October 14, 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

         
Enron:

Enron a shadow of former self a year after fall began
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Abbey National Sues 7 Investment Banks Over Enron Losses
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Banks Are Leery of Giving Enron-Related Data to Bankruptcy Court
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Enron credit card raises eyebrows around town
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With Texas swagger, a new business model emerged.
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CSFB, J.P. Morgan Sued for $80 Mln Over Enron Notes
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Energy trading now in a new era
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Feds show their hand with Fastow complaint
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An ugly tale of corporate greed
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British bank sues over Enron losses
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PUC, New Power have plan for exit
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Law Firms:

Law firms emphasizing 'business development'
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Goulston & Storrs ranks 2nd in nat'l work survey: Hale and Dorr also ranks high among law firms in quality-of-life measures
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Associates Crack Murder Case
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Akin Gump gets new leadership: After 23 years at helm, Nelson steps down; LaFrey takes reins
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City, law firm fuss over $100 million in unpaid tickets
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Jay’s resignation sparks Finers profits shake-up
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Airlines:

United Faces Nov. 17 Debt Payment
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United to Meet With Machinists; Talk of a Bankruptcy Persists
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Bankruptcy wouldn't disrupt operations, United says
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Fractured union talks add insult to injury for United
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'United' is not the word - Common goal is difficult to achieve
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Insurance ruling threatens airlines
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AMR Shares Drop on CSFB Report, bankruptcy suggestion
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A key labor coalition that could stave off bankruptcy for the airline possibly could be splintering
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Dickson says decision to sell Vanguard close
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Steeped in debt: Good times end, spending doesn't
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Restaurateurs eyeing former Bill Knapp's locations
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Isle of Capri Casinos Unsuccessful Bidder For The State Line and Silver Smith Casino Resorts
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Corporate Reform:

So much for Wall Street cleaning up its act
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Officers' liability pre-existed Sarbanes-Oxley
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A Chinese Wall -- or Several Fences?
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Letting crooks off the hook
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The board member hunt: Finding qualified — and willing — directors gets tougher
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Small businesses should tackle issue of ethics
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WorldCom:

MCI bondholders object to WorldCom DIP
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Firm Controlled by Ebbers Got Citigroup Loans
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WorldCom's Myers: Guilty, Again
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Uunet Users Take Licking But Network Keeps Ticking
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WorldCom $1.25 Bln Bankruptcy Loan Opposed by MCI Bondholders
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Ebbers Firm Allegedly Got Big Loans From Citigroup
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WorldCom official admits guilt - Former controller pleads guilty to securities fraud
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CIBC files notice against Enron
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Mall.com slips from the radar: Retailer's complaints lead to police investigation into where payments went
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  Telecoms:

GenTek goes bust
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Global Crossing chairman's $25M pledge: PR move or compassion?
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GenTek Files For Chapter 11 Protection In Delaware
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Genuity may sell assets
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Bankruptcy Reform Won't Fix Telecom
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ITC DeltaCom close to exit
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Bankrupt telcos ready to ring again
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Lucent cuts raise bankruptcy concerns
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Genuity In $100 Million Asset Deal With Level 3?
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Analysts say Nortel likely to violate condition on $1.5B line of credit
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GT Group to delay disclosures
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Untangling the telecom mess: Top local executives discuss what happened and what needs to change
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Corporate turnaround specialists are part CEO, part psychologist
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Kmart:

Lewisville, Texas-Based Grocery Chain Still Reels from Crash of Kmart
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Kroger, Albertson's Are Bidding for Fleming Stores
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Kmart unit seeks court approval for ISP sale
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Several Former Kmart Buildings in Indiana Remain Vacant
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Kmart hedges bets, tries to keep Martha
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Bankruptcy Court Releases Kmart From Burley, Idaho, Lease
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Leasing former Kmarts taking time
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Advanced Tissue Sciences files Ch. 11
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Shares Plunge after La Jolla, Calif.-Based Biotech Firm Files for Bankruptcy
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Accounting:

SEC proposal causing worries
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How Far Will Sarbanes-Oxley Reach?
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Ernst & Young posts record FY revenues on Andersen tie-ups, business
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CFOs under pressure to 'tell all'
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Sweet charity, for now
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IRS to broaden circumstances for requesting audit workpapers
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PricewaterhouseCoopers Adds New Auditors to Tyco Account
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Auditors Say U.S. Agencies Lose Track of Billions
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Accounting Profession Faces Talent Shortage
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Harmful asbestos litigation
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Sanrise assets fetch bids for pennies on the dollar
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Instability Looms for Major Mental Health Provider
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Consolidated Freightways Puts Assets on the Block
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Energy:

Energy Bill No Closer to Passage
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Energy firms feel Kyoto squeeze
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S&P warns of PG&E unit bankruptcy
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CenterPoint pulls back from brink
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TXU Europe at Risk of Losing Cash Infusion
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Advanced Lighting warns of filing
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Denver: Hoover's creditors line up
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Fighting foreclosure a losing proposition
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Judge Orders Owner of Portland, Ore.-Based Hotel Chain to Repay Bank Debts
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Lender Will Pay Millions to Settle Predatory Lending Claims
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New Bankruptcy Opinions
(No new opinions today)

Bankruptcy Jobs - 240 Jobs - Last Updated October 14, 2002
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Bankruptcy Court Web/Pacer Site Directory

Weird News
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Bankruptcy Reform:

US bankruptcy overhaul possible after election-lawmaker
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Sirius Statement On Interest Non-Payment
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Warren Buffett Holds 35.04% Of Comdisco Holding
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Charges threaten diocese funds, bankruptcies possible
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Merrill Lynch Responds to SP Statement On Commerzbank
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You may feel trapped in a lease, but escape routes exist
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Adelphia:

Going after the money
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Newcor Inc Files Chapter 11 Plan
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The Makings of a Vicious Debt Cycle
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CoServ Realty Transfers All Assets to Lender; First of Three CoServ Plans to Emerge
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No presumption of fees upon dismissal of petition

Large north-state SBA loan is very big bust: 'Greek tragedy': $1.5 million is gone and so is borrowing firm
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Lawsuits Float to Top of Providence, R.I.-Area Restaurant Chain's Bankruptcy
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Legal, fiscal woes try gay media chain
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SBI probes loan fraud claims
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More Body Solutions Employees Laid Off
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Does bad credit equal bad driver?
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ANC Rental Corp. to Pull Out of Insurance-Replacement Market
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Former ski exec trying to buy bankrupt Bolton
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Big Punitive-Damage Award Is Levied Against Prudential
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Mountain of convertible debt set to soar in 2003
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Hotel firm co-owner raises objections in bankruptcy
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Gallows Humor At J.P. Morgan
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Plymouth Rubber, Lenders In Restructure Deal
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Hoover offers $2m for defunct Friendly Robotics
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South Africa:

From near bankruptcy to Harmony
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Canada:

Gov't to aid firms hurt by failure of publisher
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Feds to bail out victims of publisher's bankruptcy
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Ray of hope for Stoddart authors
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Germany:

German banks teeter on the precipice
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How Germany paid for the boom
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England:

Jersey courts start trawl of bankrupt tycoon's web of trusts
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No aid for power plants
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Japan:

Japan Facing Crisis Turning Point
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U.S. offers full support for Takenaka's reforms
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Kumagai May Have to Sell More Assets If Banks Act
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Japan's leaders split on economy
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Japan: Anatomy of a Crackdown
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