February 17, 2003 

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

         
Personal bankruptcy rate surges
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Mixed Picture on Bankruptcies
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Enron:

Attorney general asks Enron to hasten
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Bankrupt Enron likely to be broken up and sold
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Lillian Vernon Questions 1999 Enron Contract
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At Enron, the Compensation Kept Paying
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Enron: Under Cover of Dark and the War
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Enron fallout continues to hit corporate America
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Gap in law aided Enron
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Survivors of Enron Content to Play Safe
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Kmart:

Fleming loses appeal of Kmart order
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Kmart Still Seeks Contempt Charges Vs Ex-Exec D'Onofrio
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Kmart keys on 2 fired execs - Retailer's internal investigation examines managers' ties to two consultants
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Kimco to Remarket Kmart Stores
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Drought Leads Farmers to Seek Counseling
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For sale cheap: leftover dot-com era bank debt
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Law Firms:

Brobeck's M&A Team Wraps Up (scroll down)
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Brobeck Searches for Alternatives to Bankruptcy
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Wild and crazy: Law firms try marketing
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Kilpatrick health group jumps to Nelson Mullins
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Firm Raises Starting Salaries
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Eyes wide open - The SEC's new ethics rules should have little substantive significance to most lawyers
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A Senator speaks out - The view behind lawyer responsibility
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Foreign companies voice fears over rule changes - Wholesale exemptions to Sarbanes-Oxley for foreign issuers unlikely
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Sarbanes-Oxley Act of 2002 Some Bingham McCutchen Remarks
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Law firms become tenants sought after by landlords
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Partners From Defunct Firm Go Out on Their Own
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N.Y. law firm opens Austin office
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Unbillable hours, immeasurable gratitude: Interest in pro bono work grows among Philly's larger firms
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National law firm snaps up two floors in downtown Houston office tower
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More tenants choosing renewal over relocation: Guaranty Bank, Fulbright among latest to re-sign
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In a bind, law firm finds light at the end of the tube
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Steel:

Bitter mood tinges Beth Steel hangout
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Steel workers still at center of bidding war: AK Steel must strike deal with union to buy National Steel
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The American steel industry, haunted by 21 bankruptcies in recent years, is boiling down to a few huge companies
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Some retirees find broken promises on health care
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Workers, Management of Weirton, W. Va.-Based Steel Company Agree to Pay Cut
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Conneaut Lake Park may have to close over ownership lawsuit
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Springs symphony labor pact voided; board set to meet
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Great Northern:

Bid for Great Northern Paper Contested by Creditors
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Maine Paper Firm's Request for Break Up Fee Payment Related to Mill Sale Is Opposed
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Be cautious before seeking help from a debt manager
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  Airlines:

Darkness falls on UAL's aircraft leases
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Treating Airline Sickness
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Four Choices for Airlines (Only One Is Probable)
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United has travelers wondering
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Aircraft lease advisory mandates: money for old rope?
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Small jet firms go on rough UAL ride
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Can Song keep Delta from singin' the blues?
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Lufthansa Sees War Cutting Passengers 20%
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Retired Pilots Weigh In On US Airways Pension Plans
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Alliance threatens Midwest Express
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Air passenger fees, taxes adding to costs and to some worries
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U.S. Carriers Ask Congress for Relief against Rising Fuel Prices
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United's Discount Effort Faces Skeptics
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Unfriendly Skies - Even after war fears fade, the airline industry will prosper only if it shrinks
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United increases goal for pay cuts / Lack of explanation angers labor unions
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United: Staff holds key to future
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Continental forecasts doom and gloom
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Becker & Poliakoff Lands Large Bankruptcy Case (scroll down)
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ThruComm bankruptcy reaching out: Chapter 7 names national, Bay area creditors
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Business Stress Takes Bite Out of Work-Time Lunch
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Little Rock, Ind., Financier Faces Myriad Lawsuits
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Asbestos:

Senator touts asbestos reform bill
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Asbestos Reform Bill Introduced in Senate
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ABA backs asbestos reform
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Asbestos side effects
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Hockey:

Critics blast tax breaks in Senators sale
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Hockey's finances on thin ice
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Bryden's sugar-coated tax subsidy
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Senators could turn operating profit in 2002-03 under Bryden deal
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Suit city
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Accounting:

The world according to Sarbanes-Oxley
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Congress (Finally) Joins War on Tax Shelters
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Accounting at Energy Firms after Enron Is the “Cure” Worse Than the “Disease”?
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Deloitte Touche Tohmatsu Appoints New Global Chief Executive
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Accountants grapple with shifts in allowable duties: Companies can no longer use one firm for accounting and auditing
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Executive fired in battle over financial statements
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KGA Group, BDA&K prepare to merge: New KBA Group will provide small, mid-size public companies with 'Big Four'-like accounting services
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Volcker on the Future of Accounting
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Sprint-Ernst & Young deal: Asset or liability?
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Retailing:

Lenders are getting a lot more finicky
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Riley wants his bankruptcy dismissed
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Cigarette Purchases Didn't Preclude Plan Confirmation

Fake heiress sentenced in fraud case
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New Bankruptcy Opinions
(1 new opinion today)

Bankruptcy Jobs 871 Jobs - Last Updated February 3, 2003
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Bankruptcy Court Web/Pacer Site Directory

Weird News
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Yet Another View of In re Pillowtex
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Divine near bankruptcy
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Economy spurs collections business
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Debt Collection a Struggle in Slow Economy
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Corporate Reform:

Forbes editor says businesses cautious now
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The U.S. Corporate Governance Crisis A Review and Solution
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The new costs of going public
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Telecoms:

Former WorldCom Executive Wants Boca Raton, Fla., Home Out of Trial
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WorldCom's Sullivan draws Web mockery
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Adelphia Commun Asks For Crt Approval On Severance Plan
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NII Finds Its Way Out of Chapter 11 Poised for Profit
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Tangled wires - How a 'great place to work' became a target for federal prosecutors
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Is it curtains for ACT Theatre?
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Setting sail in troubled financial waters: Bankruptcy experiences launch Stark's Water Tower Capital
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Dice Inc. Files Pre-Arranged Bankruptcy
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Bank's Funding Extension Keeps Fort Kent, Maine, Sleepwear Factory Open
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Energy:

Golden State warriors
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EOTT Energy awaits ruling
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Odds are, Reliant buys time
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These Workers Were Wiped Out - They were blue-collar workers with fortunes in P&G stock. Then they put their faith in an A.G. Edwards broker
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Las Vegas brokerage bankrupt
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Bankruptcy Court Approves Sale of Virginia Beach, Va., Firm's Auto Loans
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Do You Know Your Debtor's Signals?
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National Century health care debacle shows danger of debt
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England:

British Energy strikes deal to keep afloat
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Aid for British Energy 'threatens' investment
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British Energy creditors reach agreement with government
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Pensions crisis company folds
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Canada:

Court approves Plaintree creditor plan
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Italy:

Fiat's creditors push for more asset sales
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Japan:

Japan Bankruptcies: Most Debt For Jan In Postwar Period
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Resort developer STT goes under with 313 bil. yen debts
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Germany:

MobilCom files for bankruptcy as shares tumble
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Poland:

More power to the creditors
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