October 11, 2002 

Daily Bankruptcy News

Brought to you by BKINFORMATION.COM - The Source for Business Bankruptcy Information on the Internet 

Also available on the Web (with links to the news stories)  at: http://bkinformation.com/News/DailyNews.htm

Prior editions available at http://bkinformation.com/bankruptcy_news.htm

         
Big City Radio:

Big City Radio may file for bankruptcy
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Big City Radio Announces Denial Of FCC Application
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L&H is hit with civil complaint
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Bankruptcy Reform:

A Surprise Ending: Pro-Business Bills and the 107th Congress
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DIP Dimensions: Galey & Lord Inc.
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Kmart:

Two more top-level executives leave Kmart
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Martha: Everything You Wanted to Know
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Kmart probe extension asked
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SEC Asks For Second Extension To File Kmart Claim
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Kmart Has No Comment on New Television Advertisements Featuring Martha Stewart
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Kmart says it will get out of bankruptcy next year
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BlueLight.com Files Motion to Sell Internet Access Assets to United Online
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Law Firms:

Pillsbury Partner Didn't Jump -- He Was Pushed
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Pillsbury Suit Targets Headhunters' and Consultants' Role in Running Firms
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Jensen Suit Raises Questions About Pillsbury
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Legal networks give local law firms international reach
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Suit Against Pillsbury Raises Questions About Firm
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Mr. Girard-diCarlo Goes to Washington
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Simmons partnership opposes pay shake-up as top pair quit
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Firm Says It's Okay Despite Series of Defections
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Chadbourne & Parke takes on Orrick and Vinson & Elkins partners
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What is an Associate's Duty to Supervise Non-Lawyers?
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A&O boosts banking practice with Dentons hire
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Bullivant Houser adds attorneys
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Magic Circle Firm's Leader Steps Down in Shocker
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NY Firm Launches DC Satellite
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Senior Partner Leaves NY Firm After Merger
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Maxwell Batley raids Freshfields for outsourcing push
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Jim Jones: Case closed
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Spurned by Others, Two Firms Talk Merger
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Malden Mills wins extension
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Enron:

Enron affiliate EOTT files Ch. 11
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Monopoly Enron: Do Not Pass Go, Do Not Collect $200

EOTT/First-Day Motions: Sees Minimal Disruptions
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Mansion sale can proceed
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Enron Bondholders Win Right for Kopper's Surrendered $8 Million
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Judge OKs sale of Enron tower
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Creditors sue Enron chiefs
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$6 Million In Property Tax Still Owed On Enron Houston Office Tower
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Management stress threatens Credit Lyonnais merger
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Magellan Health sinking after NYSE delisting
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Household Nears $500 Million Settlement For Its Aggrieved Borrowers
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Armstrong World Industries Seeks to Recover Funds from Asbestos-Suit Mediator
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Adelphia Seeks To Pay New Directors Up To $125,000 A Year
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Sunbeam disclosure approved by court
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Advanced Tissue Sciences Announces Plan to Sell Dermagraft Joint Venture Interest to Smith & Nephew Through Voluntary Chapter 11 Reorganization
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St. Louis Lead Supplier Says Rejected Debt Swap Would Bring Bankruptcy Filing bankruptcy
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Charlotte: Brash, bold and bankrupt - Guytano's is still in business, but owner faces $5.8 million in debts
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  Airlines:

Airlines play zero-sum game
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Airline bankruptcy fears rise
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United Air's Machinist Union Withdraws From Coalition
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United Airlines labor disputes rekindle
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United bankruptcy fears rise on labor delay; stock at multi-decade low
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Statement from the Air Line Pilots Association, International; the Association of Flight Attendants; the Transport Workers Union and the Professional Airline Flight Control Association of United Airlines
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Airlines Dig Deeper Hole with Results
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Tough times delay airline upgrades
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Napster negotiating emergency loan
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WorldCom:

Worker defections worry WorldCom
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WorldCom Executives Sue
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P&G, others want role in WorldCom bankruptcy
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Two Former Worldcom Execs Admit They Cooked The Books
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Digex: Bert Roberts, Ron Beaumont Resign From Board
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WorldCom Expects To File Reorganization Plan In March
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Desa International asks for extension
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Accounting:

BDO Is Ordered to Give IRS Shelter Records, Client Lists
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Market Giving Way to FASB Juggernaut
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Road Kill
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SEC moves to calm Sarbanes fears
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Andersenís Lobbying Still Potent in Washington
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Appeal probably won't delay Baptist investors' settlement
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Conference calls for global GAAP
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Accounting Tips for Lawyers
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A New Accounting Culture
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Federal Judge To Rule Soon On Andersen/Baptist Appeal
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Flaw and folly
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Marriott Moves to Answer Accounting Questions
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Energy:

NewPower Holdings to liquidate
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Enron spinoff files plan to pay all creditors in full
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Power Exchange Execs' Pay at Issue

CenterPoint financing goes down to the wire
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Texas PUC, New Power Agree On Power Bill Dispute
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Energy group in race for finance
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FERC Adopts Derivatives Reporting Rule
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California Power-Crisis Questions Linger
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Telecoms:

ICG reorganization plan OK'd
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Network Plus In Talks To Resolve Level 3 Contract Dispute
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Citigroup Has New Worry: What Grubman Will Say
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FLAG network emerges from Chapter 11
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Out of Bankruptcy, Into Uncertainty
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Integrated Telecom Express Files For Ch 11 In Delaware
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Corning Sees Sales At Low End of Its Forecast Amid Telecom Sector Weakness
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UBS sues ex-client over fees
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Federal-Mogul Might Move Headquarters
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Bad loans ding SunTrust profits
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Consolidated Freightways:

Bankrupt Consolidated Freightways Has Nibble from Fort Worth, Texas, Investor
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Consolidated: All Freight Delivered
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New Bankruptcy Opinions
(No new opinions today)

Bankruptcy Jobs - 241 Jobs - Last Updated October 6, 2002
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Bankruptcy Court Web/Pacer Site Directory

Weird News
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Letter from Delaware: Stanley strikes back
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Judge OKs Apple Capitol restaurant sale
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Comdisco To Redeem $400 Million In Variable Senior Secured Notes
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Farmland's fight for adviser will go to hearing
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Edison Flies Staff to Luxury Resort as Some Schools Lack Books
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Tech firm in Chapter 7 - Radiant Photonics sought reorganization but is pushed into bankruptcy liquidation
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Once upon a time in Florida: A fable about revenue and service
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Corporate Reform:

SEC must get serious about hunting fraud
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Hidden Perk Adds Up to Big Money
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Spitzer digs for spun gold
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Directors must understand ethics
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Settlement Plan May Single Out Citigroup
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Top Democratic Leaders, President Differ on Performance of SEC Chairman Pitt
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Pinnacle exits bankruptcy
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Bedroom Superstore Leaves Prepaid Customers, Employees Hanging
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Debt Problems Are Haunting Even Well-Heeled Consumers
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Pensions Protected Despite Bankruptcy, Says Ohio-Founded Auto Parts Firm
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Illinois Grain Insurance Fund Bankrupt
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Risky Business
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Austin: Bradley's bankruptcy case may last longer
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Economy:

Jobless Claims Decline
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Mars Drops 20 More Jobs, Struggles to Survive Bankruptcy
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Canada:

Doman Industries at brink of bankruptcy 
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Ontario Government Proposes Investor Protection Enhancements
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Asbestos mine faces bankruptcy
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Valentis lays off another 45, execs leave
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Judge grants Aladdin another extension
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Judge rules Freightliner breached Mirror Systems contract
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ANC switches chief execs
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Morgan's Debt Downgraded
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Fas Mart: 

Fas Mart Convenience Stores to Sell 160 Sites
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Investment Firm Remains Likely Buyer for Fas Mart Convenience Stores
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Japan:

Stock slide pushes fears of deeper slump in Japan
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Government eyes higher values for bad loans
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England:

Ex-minister in insolvency claim venture
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China syndrome
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Leech bankrupt as ML Labs restructures
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Busted flush
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Germany:

One Kirch media deal done
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Australia:

Australian Bankruptcies Rise 0.6% In 3rd Quarter From 2nd Quarter
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