February 27, 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

         
Bankruptcies forecast to stay near record
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Bankruptcy/ID-theft video unveiled
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Judge approves gasoline pump maker's sale
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Bankruptcy overhang affects stocks
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Kmart:

Two former Kmart execs indicted
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Conaway must wait for legal fees
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Will Kmart Sue Conaway?
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Kmart says it's on track for leaving bankruptcy
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Court Approves Kmart Disclosure Statement
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Kmart Tries to Get Out of Cash-Register Leases
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Telecoms:

IDT silenced in Global Crossing bid
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IDT: crossing the line
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iPCS wins access to collateral
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Analyst Coached WorldCom Chief on His Script
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Bankrupt Devon Mobile to sell PCS assets
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Bankruptcy Court Sets Date and Terms of Overbidding for the Sale of Assets of STM Wireless, Inc.
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Urban Com Expects Relief
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Ecusta:

Ecusta paper plant closes, environment at risk
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State to seek delay of paper plant sale
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Fraud Charges Against "Blue Light Bandits"
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Not a divine comedy
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Failed broker investors may get restitution
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Energy:

Allegheny Energy's debt plan pushes stock sharply lower
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Energy company seeks $5 billion from state over long-term deal
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Seven Seas Announces Closing of Sale of Producing Properties
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Mirant hires Blackstone for debt revamp
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Accounting:

Ahold Reported Scandal to Prosecutors
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CPAs Look For An Ad Agency To Rebuild Image
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Interpublic's Board to Discuss Fate of Its Senior Management
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GAO rules force some CPA firms to choose
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Corporate Reform:

Turn of the screw - New prosecutorial guidelines make it clear the Justice Department, too, is going after corporate America and lawyers who represent it
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US chiefs get nervous about plaintiff claims
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The Economic Drag of CEO Funk
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Anti-Money Laundering Rules May Expand To Car Dealers And Travel Agents
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  When failure pays - are creditors finally putting their foot down on executive retention bonuses?
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Airlines:

Union Official: American May Go Bankrupt
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American disputes May drop dead date
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United union pitches pact
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UAL attendants' wage-cut plan less than asked
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Major US airlines seek higher prices to offset costs
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NWA wants changes in work rules
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United creditors in a long line
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Platinum payout / US Airways ' tale of two pensions
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Thai to buy UA jets
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Hooters Air to Launch Service with Atlanta to Myrtle Beach, S.C., Flight
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Bankruptcy Court: Release Park South Accounts
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Chapter 7 Petition Against FreeStar Dismissed -- FreeStar to Seek Compensatory and Punitive Damages
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IRS, SBA hearings highlight Offer-in-Compromise issues
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Hockey:

Reisman eases Ottawa Senators' debt
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Buzzards owner keeps tenuous control
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Battle over money between county and Buzzards continues
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Businessman, boosters give Sens a bump
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Savannah symphony bows out
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Bankrupt Greater Southeast Hospital's Accreditation at Risk
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Hospital Owners Spent Millions on Perks While Hospital Declined
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Stockwalk still standing a year after bankruptcy
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Could Spiegel break up?
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Bold Corp Bond Investors Get A Penney For Their Thoughts
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A year after layoff, job still elusive
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Debit Cards Come with Different Consequences than Credit Cards
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Kaiser Aluminum Gets Court OK To Sell Office Complex
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Wall Street:

How CSFB's Quattrone Got Early Warning About Probe
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Adelphia:

Adelphia's New Chief Defends Shareholder-Opposed Contract
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Court Sets Deadline To File Claims Vs Adelphia Business
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IRS, band member object to Riley's bankruptcy dismissal
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Steel:

Weirton Steel faces bankruptcy
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National still losing money
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AK's National bid clears antitrust hurdle
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Key3 Execs Irrepressible but Not Irreplaceable
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New Bankruptcy Opinions
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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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Letter from Delaware: Gorilla in the attic
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DIP Dimensions: Ameripol Synpol Inc.
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Weil Gotshal Reaps Most Fees on Biggest Corporate Bankruptcies
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Cheap deal opportunities
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Law Firms:

Cracking the Whip - Companies are putting a leash on those sky-high legal bills
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Firm Plans to Auction Off Satellite Office, Lock, Stock and Lawyers
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UK Firm Expands in New York
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Fried Frank, Thacher Proffitt Elect New Managing Partners
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Attorney general sues Southern California law firm
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White & Case bags Brobeck finance team
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Technology Turns Captured Time Into Profit
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Firm Raids Rival for IP Team
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Brobecks San Diego team splits between local rivals
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Civil RICO lawsuit filed against Texas collections law firm
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Lathams leads US charge with 2002 profits record
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Pillsbury Banking Partner Defects
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OC head speaks out over partner ‘exits’
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Judge rules against PacifiCorp on power contracts
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Failure Becomes a Theme
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Tokheim cleared for asset sale
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Conseco:

Two join Conseco Finance fray
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Conseco Finance auction reset for Tuesday
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Safety-Kleen Gets More Time To Sell Plan To Creditors
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Asbestos:

ABB wins credit lifeline from banks
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Arizona: Bankrupt English Village set to go on sale
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Burlington Industries Hldr Seeks Shareholders Panel
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Integrated Health resolves objections to asset sale
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Bankruptcy Reform:

Mexico sends signal with bond clauses
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Mexico Issues New 'Restructurable' Bonds
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Bankruptcy threatens World Cup finals
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Japan:

Last ride for Japanese theme park
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A Japanese Theme Park Company Fails
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Japan woes take toll on theme park operators
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