September 23, 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

         

Energy:

Judge allows new PG&E reorg vote
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Bankruptcy judge nixes new PG&E vote
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PG&E Issues Statement After U.S. Bankruptcy Court Denies Request by CPUC and Creditors' Committee to Reopen Voting
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Williams Cos. weighs leaving Houston for Okla.
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Enron:

Enron Examiner Raises More Questions
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Enron examiner details sham deals
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Examiner's Report (large download)

The Findings Against Enron
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Enron inflated assets of driller, sources say
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Enron creditors can sue Andersen
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Oregon regulators Question Transfer of Utility's Cash to Parent Company Enron
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Surplus will be shed on the auction block
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Enron masked $1.4 billion in loans, report says
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US bankruptcy court warns Enron bankers
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Enron Report Gives Details Of Deals That Masked Debt
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Examiner Finds Dubious Sales May Have Belonged to Enron
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Enron Report Gives Details Of Deals That Masked Debt
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Barclays caught up in Enron saga
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Special Examiner for Enron Files First Probe Report With Bankruptcy Court
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A New Kind Of Outcry For Enron; Co. To Sell Some Assets
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Enron examiner finds dubious sales - Redefinition of deals could lead to recovery of $500 million
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Network storage firm seeks Ch. 7 liquidation
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Asbestos:

Allianz Pumps Millions Into U.S. Unit to Cover Asbestos Risks
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Huge Asbestos Trial to Begin in W.Va.
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Liquidation locks up legal options for landlords
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Losing the house: Foreclosures on rise
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Airlines:

Hooters owner offers to buy Vanguard assets
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UAL Uses Credit Balance to Fund Pension
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Airlines must be asked to fend for themselves
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Airlines balk at tab for airport security
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Airlines to Lobby Government For More Aid as Losses Mount
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UAL skips pension contribution
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United Airline's Union Rescue Plan Delayed
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Boeing's sales outlook bleak for next few years: Airline industry's woes continue to take big toll
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Workers fear for jobs, say limits needed on concessions
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U.S., Airlines Face Off Over $700 Million
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UAL's next destination: bankruptcy, analysts say
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Predatory practices growing concern
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Insurance woes may have pushed Consolidated Freightways over the edge
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Judge Approves $9.8 Million Dow Corning - Government Settlement
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Candy plant buyer found
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Austin: Ex-CEO gives an Earful in lawsuit
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Bankrupt boutique leaves brides frantic
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NACM group goes bankrupt
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Tech companies' hands are forced when subtenants tank
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How Quattrone's CSFB Unit Doled Out Shares of Hot IPOs
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  Federal trustee has been part lawyer, part social worker
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Roadhouse Reorganization Plan Effective By Sept 30
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Bankruptcy, litigation and securities law tend to do well even when the economy doesn't
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Examiner appointed at Polymer
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Pawnshops, bankruptcy lawyers, debt traders cash in on slump
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Law Firms:

How to Find a Job in a Tight Legal Market
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Fox Rothschild acquires Pittsburgh law firm
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Balancing law and family still hard to do
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While not taught in school, lawyers recognize importance of marketing: Various methods used to hone business development skills
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Clifford Chance firm opens West Coast HQ
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Law firms merge at an ever-faster clip
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NY Firms Staking Claims to More Office Space
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Mintz Levin partner brings book to Greenberg office
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Simmons overhauls corporate to halt internal turf wars
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Failed Firm Merger Leads To Very Messy Separation
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Over a legal barrel: Lawyers also face challenges during corporate upheaval
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Lawyers might also need some professional help
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Rainmaker's Defection From IP Boutique Raises Eyebrows
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Women more naturally possess needed skills to excel in legal marketing
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Law firms look to hire from public sector
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Telecom:

Everything in Troubled Telecom Available for Cheap
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Pinnacle gets lower exit offer
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Grubman May Sing
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IDT Unit Buys Some Assets From Star Telecommunications' Estate
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Salomon may be close to deal with regulators
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No comment on Asia Global Crossing, Netcom Buyout Report
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IDT picks through telecom wreck
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Qwest Will Restate $950 Million in Revenue From 'Swap' Deals
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Telecom's agony creates easy pickings
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The Telecom Disaster: Now It's Getting Political
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Houston analyst waved red flags early on collapse of telecom
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Name game at its best in the telecommunications sector
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Bonfire of the facilities: Fire sale engulfs telecommunications-sector assets
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Hundreds come to inspect items for Telergy auction
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NASD Plans to File Charges Against Salomon, Grubman
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Napster's Trademarked Name Is Likely Most Valuable Asset
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Lehman Is Likely to Trim Staff As Wall Street's Woes Continue
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Galey & Lord seeks time as losses mount
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American Biogenetic Sciences Files Ch 7
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Corporate Reform:

CEOs: Longing for clients' boards?
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Two Simple Cures for What Ails American Corporations
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Partners launch new company to prep independent directors
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Corporate Board Director Positions Lose Cachet
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Bankruptcy Is Growing Condition in Polk County, Fla.
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Goldman Sachs Eyes Major Layoffs
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New Bankruptcy Opinions
(No  new opinions today)

Bankruptcy Jobs - 214 Jobs - Last Updated September 23, 2002
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Bankruptcy Court Web/Pacer Site Directory

Weird News
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Bankruptcy Reform:

Bankruptcy reform urgency
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Congress's Unfinished Business
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Bankruptcy Law Reforms Aim to Weed Out Those Who Can Pay Their Debts
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Modification Of Plan To Surrender Collateral Permitted

Peregrine:

Peregrine goes under
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Peregrine Files for Ch. 11, Sues Andersen
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Struggling Peregrine Will Sell Remedy Subsidiary to BMC
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Software Maker Peregrine Files Chapter 11 Bankruptcy
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Insurer protects board members - AIG offers coverage to shield independent directors if they are sued
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Business Intelligent Systems files Chapter 7: Court filing claims investor stopped backing fledgling software-development firm
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Biggest SBA loan also biggest bust
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Digital Now's creditors OK Ch. 11 exit strategy
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WorldCom:

Creditors Want Own Probe of WorldCom - Panel Seeks Permission To Hire Accountants
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Spencer Stuart Likely to Lead Search for New WorldCom CEO
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Consider investing in firms just out of Chapter 11
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Adelphia could be charged with Rigases
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Credit counseling often vital in days of debt
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Accounting:

Audit Committee and Management Disclosure Requirements of the Sarbanes-Oxley Act
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Auditors clampdown too 'light'
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Advisors and managers retooling to combat fraud
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Texas Certified Public Accountants Get Used to Spotlight
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Pitt Optimistic on Naming Oversight Board Soon
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D&T Partner John T. Smith Appointed to the IASB
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Sarbanes-Oxley Act Summary
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Steel:

Steel Union Seeks to Renegotiate Contracts at Struggling Firms
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Firm's Bankruptcy Ensnares Creditors at Radio Networks
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Filing for Bankruptcy Is Step-by-Step Process
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WorldCom:

WorldCom may restate figures again
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WorldCom Creditors Said to Be Restless
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Polaroid Retirees Seek Panel To Probe Company
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No Place Like Home: Nursing home's fight for solvency, respect mirrors industry-wide woes
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Farmland's bankruptcy hurts co-ops
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Money, Greed, and Risk - Why Financial Crises and Crashes Happen
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Genger's U.S. firms receive extension to October to file recovery plans
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Transcare files for Chapter 11: Ambulance firms eye Highmark contract
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Bankrupt Charleston, W.Va., Medical Center's Land Deals Are Still Pending
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Poland:

Analysts urge Elektrim to throw in the towel
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