September 27, 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

         

Bertelsmann may face challenges in Napster case
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Sleepmaster Creditors Committee Files Complaint Against Citicorp Venture Cap
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Doom Boom
(WSJ: separate paid subscription required)

Accounting:

I.R.S. Closes Loophole That Let Rich Hide Income
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You Say IASB, I Say FASB, You Say...
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Manatt's Bankruptcy Practice Presents the Nuts and Bolts of Defaults and Recovery Seminar for Workout Professionals
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Bankruptcy Reform:

Bankruptcy reform has flaws
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Bankruptcy Reform Needed Now More Than Ever
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__________________

WorldCom:

WorldCom's Myers To Plead And Dish
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Creditors back severance pay
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WorldCom figure pleads guilty, blames superiors
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SEC Complaint Against Meyers
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Ex-WorldCom executive says he was told to fix books
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Deal clears way for Wil-Com reorganization
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Enron:

Fight brews over LJM2
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Fastow's surrender expected next week
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Tractabel looks to buy Enron Bahamas LNG facility
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Pat Boone: Ready And Willing To Play An Enron Executive
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Enron asks judge for still more time
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Fas Mart Chain Up for Auction
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Music Theatre of Santa Barbara, Calif., Files for Bankruptcy
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Law Firms:

Akerman Senterfitt's 'Right Guy'
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Making a case for clients when law firms combine forces
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Law firm head challenged to duel
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Law firm reinvents its brand image
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Research Inc. files bankruptcy plan
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When 'Risk Models' Fail, Firms Flail
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Banks ease demands on troubled Pillowtex
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Barliant to step down
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Economy:

Factory Orders Down, Reflecting Continuing Problems in Economy
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Will E-Mail Kill Wall Street?
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More Formica buyers surface
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Telecoms:

Tyco: Worse Than A Crime, A Mistake
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Flag set to exit bankruptcy
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Court Reschedules Globalstar Disclosure Hearing
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At Home Bondholders Sue
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SBC Cuts 11,000 More Jobs As Local Phone Use Declines
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Telecom Bubble To Pay Riches To Future Users; Issue Is When
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Asbestos:

Senate committee steps into asbestos litigation
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"Product Safe" Claimed at Asbestos Trial
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Gas suppliers cut flow to store late-paying chain
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Bankrupt firms still can pose long-term threat to rivals
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Skin Maker Files for Bankruptcy
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Colony to bid for Aladdin
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Corporate Reform:

100 new corporate fraud probes begun
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The Best & Worst Boards - How the corporate scandals are sparking a revolution in governance
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Citigroup Is Ready to Settle Probes Into Stock Research
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Texas Personal Bankruptcy Petitions Rose 3.6 Percent in Second Quarter
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Interliant, Inc. Secures Debtor-in-Possession Financing; New Financing to Provide Liquidity During Company's Reorganization
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Farmland Investors Lose Committee Ruling
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Nation's second-largest privately-owned convenience store chain, Swifty Serve Corp. in fight for its life - bankruptcy possible
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Be ready for a customer's bankruptcy
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EDS: The Turnaround That Wasn't
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New Bankruptcy Opinions
(4  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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DIP lender portfolios - The numbers behind the names in bankruptcy financing
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Wichita: May takes reigns as U.S. Trustee, oversees region's bankruptcy cases
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Adelphia:

Court Lets Adelphia Communications Wind Down 14 CLECs,Sell Assets
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Insurers Rescind Policies With Ex-Adelphia Communications Executives
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Airlines:

Bankruptcy Court Allows US Airways to Sign Pact With Alabama Pension Fund
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US Airways: We're Alabama bound
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Unions' offer to United greeted with skepticism
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Another analyst adds to airline gloom
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A two-ended bargain: Airlines deserve aid, but must reform
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US Airways Announces $500 Million DIP Financing Agreement and $240 Million
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Airlines Expect to Lose $8 Billion
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Statement by Texas Pacific Group on US Airways Bankruptcy Proceedings
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Smith Barney cuts airline estimates
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PBGC Takes Over Jacobson Stores' Pensions
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G-Printing, Inc. Announces Termination of Business Operations
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Union to vote on Sterling Chemicals offer
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Consolidated Freightways Seeks Help with Shutdown
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Germany:

Scandals and bankruptcies destroy Germany's Neuer Markt
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England:

British Energy Gets Emergency Loan
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_________________

France:

Vivendi Universal's Fourtou says co was 10 days from bankruptcy
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