October 24, 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

         
Did Jones Day squeeze Pillowtex?
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Pillowtex cuts losses
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Enron:

Enron Crash May Stunt Asia Power Markets for Years
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Enron shareholders win nod to sue Dynegy
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25 Interested in Portland General Electric Bid
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CBS Hooks 'Crooked' Enron Picture from Schedule
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Grand jurors eye Lay
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U.S. Asks Enron for Details on Dealings Involving Iran
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Airlines:

UAL updates loan application
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Time to force change at United
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United refiles for U.S. help
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UAL shares take off after ATSB filing
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United scrambles for more cuts - Airline to hack wages, service
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Airline could owe $100 million penalty
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Pilots on edge over more cost cutbacks
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Some Lawmakers Miffed Over ATSB Handling Of Loan Guarantee Program
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Vanguard Airlines will liquidate
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Vanguard Airlines Likely To Liquidate
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US Airways Seeks To Reject Pact With WorldCom Subsidiary
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Provell Reorganization Would Pay 30% Of Unsecured Claims
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Liquidation of Morgan Group's Assets Set to Begin
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AMERCO In Talks With Lenders On Consensual Reorganization
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Martha Wilkinson ruled liable for loans
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Steel:

Lawsuit Claims Nucor Uses Pittsburgh Firm to Maintain Dominance
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Knockout Punch for Geneva?
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Findlay, Ohio, Medical Supply Firm Files for Bankruptcy Weeks after FBI Search
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Accounting:

One in 10 firms restated results in past 5 years
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Tyco Plans to Make Revisions For 3 Periods of Fiscal Year
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Bottom Fishing in America
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Dems unearth candidate's bankruptcy
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SF Bay Area Housing Bubble Deflating - UAL Bankruptcy Could Accelerate Trend
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Bankrupt American HomePatient will delay executive bonus compensation request
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  DIP Dimensions: Owens Corning
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NII expects plan approval after judge throws out ballots
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Mattress Discounters:

Mattress Discounters files for Chapter 11
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Sleep Train agrees to buy 54 stores
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Mattress bankruptcy affects Sealy
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Mattress Discounters Obtains Agreement in Principle for $6 Million Financing Package and Terms of Consensual Chapter 11 Reorganization
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Texas bankruptcy lawyer peeved when unauthorized cell phone use causes plane to turn around
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Telecoms:

XO holders sue Grubman, Salomon
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Supra to file Chapter 11 bankruptcy
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Suit accuses BellSouth of monopolistic practices
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Phone warfare between BellSouth, Supra move to bankruptcy court
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Supra, in disconnect battle with Bell, files for Ch. 11
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Economic, Political Forces Point To FCC Returning NextWave Payments
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WorldCom goes from bad to worse - They must be onto about Plan X by now...
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Slaughters protects Colt from bondholder
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Report Could Force Swifty Serve Convenience-Store Chain into Liquidation
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Bear Stearns Fraud Case Goes to Jury
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Houston's Bankrupt Kaiser Aluminum Considers Options on Pension Funding
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The Many Faces Of Debt???
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HMG Worldwide Ends Extension Request, Plans To Liquidate
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Bonham receives three more years in Alaska's largest ever Ponzi scheme
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Law Firms:

Holding Steady in Shaky Times
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National law firms prove powerful draw
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Fallout From The Bubble
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Energy:

California Panel Set to Vote on Use of Utilities' Rate Hike Revenue
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Dynegy Names Duke Exec to Head Turnaround
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Kmart:

Securities Lawyers Say Martha Stewart Insider Trading Case Is Ambiguous
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Cendant to spend $400M restructuring Budget
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Bankruptcy Court to Hear Case on Paper Box Maker's Nashua, N.H., Plant
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Planet Hollywood on verge of emerging from 2nd Chapter 11
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New Bankruptcy Opinions
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Bankruptcy Jobs - 220 Jobs - Last Updated October 21, 2002
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Bankruptcy Court Web/Pacer Site Directory

Weird News
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Gedney files for Chapter 11 bankruptcy
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ABB:

Fears increase for workers at crisis-hit ABB
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ABB Asbestos Fears Don't Spark Bond Market Contagion - Yet
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Unpleasant stuff
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Owens Corning bizarre suit seeks to overturn basic capitalism
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SLI Gets Approval Of $35 Million DIP
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Corporate Reform:

Citigroup CEO Volunteers to Testify in New York Attorney General's Probe
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Corporate Governance Becomes Important Topic in Equity Markets
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Companies may delist to avoid tougher rules
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Reform could be bitter pill for Street
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W.R. Grace's earnings decline despite 6.8% increase in sales - Charges related to its Chapter 11 drag earnings down
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Miss the Big Picture, Fade Like Polaroid
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Ecusta reportedly seeks bankruptcy protection
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Farmland attempts to price its beef, pork
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Attorney seeks to stop travel agent from filing for bankruptcy
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450 register crowd to bid on ‘Good Stuff’ items
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OECD sets out pension guidelines
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Australia:

New Insolvencies
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Skase fortune 'spent'
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England:

The Companies Bill
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Germany:

HVB Group Posts 3rd-Qtr Loss as Loan Defaults Climb
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Russian consortium bid for bankrupt US-German aircraft maker
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Japan:

Panel Approves LDP Anti-Deflation, Bank Plan
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Takenaka Reform Plan Calls For Separating Bad Loans
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Japan Opposition Parties File Censure Motion Vs Takenaka
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Japan business owners hope to block curbs on lending
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Japan PM stands firm as reform anxiety deepens
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