September 3, 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

         
Consolidated Freightways:

Trucking firm files bankruptcy, lays of 15,500
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Consolidated Freightways to Discontinue Operations
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Canadian Freightways Not Affected by Closure of Consolidated Freightways
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Unions say Consolidated Freightways bankruptcy likely to cost local trucking jobs
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Consolidated Freightways to Liquidate
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Airlines:

Vanguard seeks to keep hopes aloft a bit longer
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Midway running out of time
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US Airways' woes may hit airport
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Cuts outrage United's workers / Unions reject wage givebacks airline wants
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Pilots undermine United's plan on wage cuts
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Motto for US Airways workers: 'What have you given up lately?'
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Former CEO of Texaco to lead UAL
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Court Upholds ALPA's Rejection Of Pact In CCAir Suit
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Airlines still hurting from fear of flying
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No more airline loans
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Fears rise of United Airlines collapse
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UAL Taps Tilton To Help Stave Off Bankruptcy
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Should employees save United Airlines?
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Bankruptcy Reform:

Bankruptcies still drawing reformer fire: Legislative debate: Causes of failures examined
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Bankruptcies break record; abortion issue stalls reform
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Critics say bankruptcy reform unfairly targets small businesses
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Congress returns today, faces full slate
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EAC lays off 35, files Chapter 11 bankruptcy
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Daewoo:

Suppliers warn Daewoo Motor
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Dropped in GM deal, Daewoo dealers file suit
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Chapman buys 2,000 cars in Daewoo bankruptcy deal
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Ochs bankruptcy hits snag over asset sale: Factory owners file suit against buyer
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Delaney Vineyards, Inc. files Chapter 11
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Department of Insurance takes over Raleigh insurer
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Jacobson's:

Goodbye at Jake's
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Jacobson's closing creates shopping 'nightmare'
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Kmart granted subpoena powers for its bankruptcy probe
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Viasystems to file Chapter 11
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Our Crushing Personal Debt
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Filing of Amended Complaint by Vlasic Creditors
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As Wall Street Slashes Jobs, Credit Derivatives Bankers Thrive
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Ray & Berndtson Inc. files Chapter 11
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Spitzer's Salomon Investigation Is Looking at Senior Executives
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Bankruptcy calendar - Sept. 2002
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IRS Continues Crackdown, Sues for Disclosure of Offshore Accounts
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  Energy:

Judge Boosts PG&E Bankruptcy Plan
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Judge endorses proposal by PG&E / If approved, utility's reorganization plan could raise rates
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PG&E Corporation Obtains New Waiver Extension, Repays Loan to General Electric Capital
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Enron:

Fastow may have to plea bargain to protect wife
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Enron Creditors Circle Insurers
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More Lawyers Snared in Enron Trap - Court-appointed examiner demands records from dozens of law firms
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The Law Firm Targets
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Unions aid laid-off Enron yuppies
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MidAmerican mulls bids on Enron assets
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Kopper admission stuns current, former workers
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Enron logo unwelcome in San Francisco ball park
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Creditors seek up to $10 million in Andersen fees
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Ex-Enron employees tell grand jury about deals
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State races rife with Enron jabs
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Taking on debt: The natural assumption is that all debt is bad. Smart companies, however, learn how to use it right
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Bankruptcy judge approves sale of Lightyear unit: Company to receive up to $4 million from sale of Northeast business
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Troubled online credit card issuer ponders next move
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Bankruptcy challenges landlords
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Accounting:

Firms Accused of Chicanery Could Get Windfall From IRS
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Calif. Governor Signs Bills Regulating Accountants
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It's only the lawyers left at Andersen
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Closing the Books on Arthur Andersen
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So Who Was Arthur Andersen, Anyway?
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The state Board of Accountancy on Wednesday rejected Arthur Andersen LLP's attempt to forfeit its Colorado license
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AOL's Revenue Voodoo Sales Deals From The '90s May Be More Fake Than Real
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Lawyers to turn off lights at Andersen
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Arthur Andersen closing the book on its auditing
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WorldCom:

A Faltering WorldCom in Sidgmore's Hands
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A Friend In Need
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WorldCom spine UUNet is critical part of Internet
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$11 Million Profit for Ebbers on IPO Deals
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Bankruptcy, Indictments ... And A New Service
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A giant cannibalised by a grow-at-all costs culture
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Corporate Reform:

SEC's Two-Day Turnaround for Insider Reports Is Taxing Staff
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Congress still hot on business reforms
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Offshore corporate tax havens under fire
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CEOs Are Dropping Like Flies
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Sad end for clothes king
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Half of Lien Allocable to Debtor in Determining Impairment
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A deadline looms for the jobless
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Laid Off but Not Necessarily Paid Off
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New Bankruptcy Opinions
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Bankruptcy Jobs - 202 Jobs - Last Updated Septemeber 3, 2002
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Bankruptcy Court Web/Pacer Site Directory

Weird News
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Law Firms:

Coudert Rethinks Northern California Offices
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Dechert Announces Pay Hike for First-Year Associates
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Firm Lays Off Associates
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Silicon Valley law firms see return to boom
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Clifford Chance gears up for senior partner battle
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Lawyerly layoffs
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SJC weighs private life of lawyers
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Australian salaries remain static as slowdown hits top-tier firms
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Huntco liquidating assets, including PSLs
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Telecoms:

A&O, CC rake it in on Marconi restructuring
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Telecom firm taking off: After buying assets out of bankruptcy, Unipoint expands across nation, targets overseas
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Adelphia seeks to dump CLECs
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Rhythms' debut and the corporate blues
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Global Crossing Warns of $10 Billion Write-Down for Tangible Assets
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Adelphia Seeks to Shutter Local Carriers to Cut Costs
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Industry hurt by airwaves auction inaction
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Accounting for Failures Of the Telecom Industry
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Plan to revive telecom includes dropping Adelphia name
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ISDN-Net acquires Telalink share of co-location center: PSINet bankruptcy judge approves $75,000 purchase
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Bankrupt Metricom reorganization plan confirmed
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360networks plans hit snag
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Bertelsmann to close Napster, some say
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On the trail of tax evaders
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Payback time drags on and on
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Unions fight to maintain relevance
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Steel:

LTV's exit leaves workers struggling
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Forward Planning: Avoiding business failure
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Poland:

Elektrim Bondholders Reject Call to Reopen Debt Talks
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Japan:

Japan stocks plunge to new depths
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Canada:

Dylex trustee sues ex-board, others
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Trustee of Dylex trustee sues directors
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Fall of the house of Stoddart
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Dylex trustee files broad lawsuit
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Business management professor fears going broke
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Money short for General Distribution's creditors
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Australia:

Law planned to close bankruptcy loopholes
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