October 8, 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

         
WorldCom:

WorldCom expected to have an all new board
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WorldCom's Yates Pleads Guilty in Fraud Case
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How Ebbers Kept the Board in His Pocket
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Sterling Chem sale hits snag
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Enron:

Report faults SEC for Enron failure
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It's Your Fault, Harvey Pitt
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Fastow Faces Classic Dilemma
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In greed we trusted
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Nader backs PUD plan for Enron subsidiary
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Bankruptcy real estate auctions risky
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Insurer's failure could cost $2B
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Bid Expected Soon for Las Vegas' Bankrupt Aladdin Casino
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Morgan Group bankruptcy leaves drivers adrift
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How deep is your debt?
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Good Sam doctor group tastes bitter medicine of Chapter 11
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General Bar Date of March 3, 2003 at 4:00 P.M. Eastern Time Is Set in Federal-Mogul Chapter 11 Proceedings
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Law Firms:

Morgan Lewis raises ante for its first-year associates
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Big law firm plants flag in S.F.
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Brobeck under pressure as West Coast property burden escalates
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Firm Wins $174 Million Antitrust Verdict
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Covington offers £85K to first years
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Attorneys' work has shifted with economic downturn: Acquisitions/mergers are in decline as bill collection, contract disputes increase
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Cybersquatter takes aim at biggest law firms
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Mintz Levin's Foster trades management for law practice
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Popham takes top job in world's biggest law firm
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Simmons & Simmons set for profit shake-up - Lockstep comes under fire as two star partners quit for Latham & Watkins
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Firm's Summer Associates Found Bad Food, Long Hours and Few Job Offers
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Defections continue at Peabody & Arnold firm: Nixon Peabody, Burns & Levinson latest destinations
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Rumor pronounced dead as Orrick searches on
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Dress Codes Cause Confusion
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Brobeck Merger Rumors Persist
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Heller closes Md. biotech branch
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New Eversheds chief Gray in charm offensive on partners
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Sleepmaster Creditor Committee Opposes Wachovia Chapter 11 Plan
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Computer-training school bytes the dust
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Hospital Prepares for More Patients from Bankrupt Facility
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Feds Focus On Credit Card Abuse
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Trustee's Complaint Against Tribe Could Proceed
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  Conseco:

Conseco Faces Shareholder Lawsuit
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Bondholders Seek Conseco Ownership
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Bankruptcy Reform:

Congress Stays at Work on Unfinished Business
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Bankruptcy scholar says 1998 Gekas plan killed hopes for reform
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Lobbyists, senators press for bankruptcy vote
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CUs See Bankruptcy Reform Legislation Slipping Away
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Swifty Serve in sick bay
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Telecoms:

Will 360networks Survive?
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High Court to hear NextWave case
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High court hears NextWave case
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Telecom layoffs drop, but industry is still hurting
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Teledesic halts Alenia project
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No bankruptcy concerns at Lucent, Nortel
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Kmart:

The Coming Carnage
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Kmart: A Fix-Up on Fast Forward
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Backlog from West Coast Port Lockout Could Be Crippling
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Bumpy Road Ahead for Daewoo Car Owners
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Bank shares pounded
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Greenspan Cautions Banks Against Speculative Excess
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High Court Declines Business Cases, Including Airline Bankruptcy Appeal
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Supreme Court declines asbestos case
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Corporate Reform:

Unintended implications
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Many brokerages recommend failing firms
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EU to tighten corporate governance laws
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Why the Little Guy Canít Win
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CFOs Are Cordially Invited
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Steel:

National Steel Corporation Updates Chapter 11 Process
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Small Webcasters May Escape Bankruptcy Thanks To New Deal
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Adelphia:

Adelphia Communications Seeks Authority For $95 Million Surety Bond
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Adelphia Seeks Bankruptcy Plan Extension
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Adelphia Communications Family Faces Battle over Assets
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Why Won't Sandy Weill Fight Back?
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Sluggish economy blamed for more bankruptcy filings
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Brunei royalty dodging trial, lawyer says - Bankruptcy filing by sultan's family delays wrongful termination suit
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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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Owens Corning Wants Out Of Loan Guarantees
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Armstrong World Limits DIP To Letters Of Credit
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Airlines:

LatAm airlines under cloud
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'Firewalls' Will Allow Majors To Stave Off Bankruptcy
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Bill aims to limit US Airways
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US Airways Announces More Job Cuts
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Epic Resorts gets loan
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Getting to the Bottom of a Companyís Debt
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MTI files for bankruptcy, cites market conditions
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Former Jackson Brook executive to plead guilty to tax, fraud charges
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Singer Civisca files for bankruptcy
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Figures up last month in bankruptcy courts
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Accounting:

Is the Avalanche Headed for Pricewaterhouse?
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Hewitt attacks US accountancy laws
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Should J.P. Morgan Set Rules for J.P. Morgan?
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Goodbye to GAAP?
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SEC Widens Hunt for Members Of Accounting-Oversight Board
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Scandals fail to deter US accounting students
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Pitt Criticized for Meeting
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IRS Offers Tax Shelter Settlements
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Pitt KOs Appointment to Accounting Reform Board
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Just How Much Did John Moores Know?
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Japan:

Bankruptcy fears rattle investors in Japan
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Japan to Delay Guarantee Limits
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Deflation battle key to reducing bad loans
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Slow ambulance for banking emergency
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Takenaka - 'no bank is too big to fail'
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Japan stocks plunge amid banks crisis
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Koizumi Vows to Speed Loan Write-Offs as Stocks Drop
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Spain:

Steniel declared in default; creditors call in 851.51 mln pesos in loans
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Mexico:

AHMSA makes progress in paying off debts
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England:

Are UK courts ready for rise in M&A litigation?
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BLP to rescue steak house from collapse
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British Virgin Islands:

Virgin Islands get tough
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