September 5, 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

         
As Bankruptcies Soar, Lehman Hires Restructuring Co-Head
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Heavy hitter
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Letter from Delaware: Their day in court
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Steel:

U.S. Steel Plans to Reduce Costs $300 Million
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Industry in Distress: Trucking
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Bankruptcy Reform:

Loose ends
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Telecoms:

Qwest thrown financial lifeline by banks
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More Consumers Answer Call Of Cable for Phone Service
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Canada approves 360networks reorganization
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Corporate Reform:

Whistle-blowers need aid
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Dark heart of Wall Street wrongs - Citigroup, the US's largest financial firm, is the target of a witch hunt. Others are likely to suffer a similar fate
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What does a company and its shareholders really owe a top executive for his or her services?
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Sunbeam Ex-CEO `Chainsaw Al' Dunlap Settles SEC Case
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Crisis at Citi
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Toronto firm wins bid for Metals USA unit
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Accounting:

Cash crisis hits fraud fight - Many fraudsters are escaping prosecution because local police forces cannot afford to use specialist accountants
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ACCENTURE: No liability in Andersen-Enron claims
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'Fraud will never be eradicated'
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Actual Surrender of Shares Is Meaningless - IRS expands meaningless gesture rule, a move that will likely reduce corporate costs associated with distributions in partial liquidations
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New Accounting Culture Necessary
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Calls grow for new reporting model
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Kaiser spends $13.7M for refinery upgrade
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Conseco's Colorful Crash - It may not have the buzz of Enron, but this fiasco still scores on the shame scale
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ServerVault Due to Be Sold - Bankruptcy Court Likely to Approve Insurance Firm's Bid
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Purge on the Street hits MDs
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Ailing Federal-Mogul May Sell Auto-Parts Plant in Hampton, Va.
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Farmland plant faces hard sale
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Kotts wins DEC International
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  WorldCom:

Sullivan pleads not guilty
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Millionaire's privileges under scrutiny
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WorldCom trial net cast wider
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WorldCom execs told of problems in March
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WorldCom boss denies fraud
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Is David Myers planning to sing like a canary?
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WorldCom Seeks Court OK to Pay Severance
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WorldCom to scale down DIP
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Bernie Ebbers vs. the Captain of the Titanic, and More
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DIP Dimensions: Valeo Electrical Systems
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US expands probe to Goldman Sachs and CSFB
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Energy:

Federal Ruling Seen Leveling Field for PG&E Utility Plan
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Law Firms:

Going Outside for Legal Research
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Pillsbury Winthrop Alleges Defecting Partner Committed Sexually Harassment
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Group Promotes Flextime for Attorneys
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Latham snags Wilson Sonsini partners
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NY Firm Consolidates Satellites Following Defections
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Fisher & Phillips grows West Coast business
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Piper Rudnick, Cohen Group form alliance
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Clash of the Biglaw Titans
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More Associate Layoffs Signal Slow Recovery at Firms
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Business Casual Goes Out of Fashion in Bad Economy
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Consolidated Freightways:

Trucker ran up big loss
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Layoffs stun Consolidated's drivers
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Trucking bankruptcy leaves many questions
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Lien Filed Against Trucking Co.
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Consolidated Freightways Workers Face Grim Hiring Outlook
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Load Haulers Still Thrive Despite Consolidated Freightways' Bankruptcy
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SEC Reaffirms Fraud Charges Against Waste Management Execs
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EPIQ nixes purchase of Connecticut bankruptcy firm
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Newspaper prepares for liquidation
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Logan Industries quickly emerges from Chapter 11
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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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Napster:

Napster ponders the grave
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Napster is dead, but its legacy lives on
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Airlines:

UAL bankruptcy not a forgone conclusion
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National Air Makes Widespread Pay Cuts; Financing Deal Close
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National Air Reaches Pact For $112 Million Financing Package
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Judge extends Vanguard's interim financing deal
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Hooters to make offer for airline
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Bankruptcy reportedly not affecting US Airways
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Swiss Air unit to sell receivables
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New United CEO: 'Urgency extreme'

Why United's Crisis Is Good for Flying
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Carriers may lose $6 billion in 2002
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U.S. Airways Aug Traffic Down 17.3%
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Midway clears hurdle
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Union leaders hold summit at United
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A.T. Kearney to buy Ray & Berndtson assets in bankruptcy sale
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Kmart:

Weak sales expected in crucial 4th quarter
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Martha Stewart, Kmart keep each other afloat
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Enron:

Ohio filing suit against Enron, WorldCom
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Laid-off Enron worker dies - Cancer patient let go day company declared bankruptcy
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Houston-Based Enron to Sell Florida Natural Gas Pipeline
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England:

Insurer hit by rebel members
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Fraud tell-tales on the increase
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Japan:

Goldman in talks on golf-course assets
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Canada:

Dylex trustee settles creditor's claim
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