January 11, 2001 Daily Bankruptcy News

January 11, 2001 Daily Bankruptcy News Brought to you by BKINFORMATION.COM - The Source for Business Bankruptcy Information on the Internet AND BKCLAIMS Marketplace - The Online Market For Bankruptcy Claims Also available on the Web (with links to the news stories) at: http://bkinformation.com/News/DailyNews.htm

TWA: Court approves AMR DIP loan; rejects Icahn identical DIP proposal costing less than half American prepares for rival bids on TWA American says will not honor Icahn-TWA ticket deal AMR says TWA deal includes $75 mln breakup fee TWA seeks court help as AMR buys assets American May Get More Than It Bargained for in TWA Deal Former owner Icahn could enter bidding for TWA Who Gets What in Airline Deals Despite Chapter 11 filing, TWA opens Jerusalem office TWA board approves bankruptcy filing TWA Blames High Fuel Prices _____________ Movie Theater Industry: Movie theater operators' crisis nears climax Loews shutting 72 screens Denver billionaire buys stake in Regal Cinemas Deal Could Make Anschutz Largest Owner of Movie Screens in U.S. Bankrupt Movie Theater Chain Closes Irvine, Calif., Cinema Regal Cinemas says loan purchases to aid restructuring ____________ Fueling U.S. Economy's Slide? Philips Says "Not Seriously Interested" In Lernout & Hauspie Xerox's Problems May Be Keeping Suitors at Bay Post-Christmas Blues- Credit Counseling Service Swamped With Work Ward's Bankruptcy Breaks The Rings That Bound Retailer To Many Customers Titan Motorcycle Files For Chapter 11 Bankruptcy	Retail Industry: Failing anchor stores punch holes in malls Retailers may be forced to be more business-minded in 2001 ____________ Bankruptcy Reform: Bankruptcy Reform Efforts Continue - Netting And Chapter 12 Bills Introduced, Larger Package Expected Within 4-6 Weeks _____________ Power Utilities: Richardson rejects order forcing power into California Calif. crisis threatens to spread Utility deregulation, energy shortage send shock waves clear to Washington PG&E cuts dividend to preserve cash, seeks state aid Creditors Urged to Help California Utilities; PG&E Warns of Gas Shortage FERC chief says Calif power crisis goes beyond state PG&E Says It's Currently Unable To Borrow More Money California's Largest Public Utility Begs for Help Power Producer Reliant Energy Sees Dialogue at Washington Summit as a 'First Step' High gas bills are last gift of Bill and Al Calif. price gouging claims hard to prove The Shocking Truth for California ____________ ICG cuts 500 jobs in restructuring Service Merchandise to cut about 23 percent of employees in effort to exit Chapter 11 Hollywood Video Struggles For Survival - bankruptcy possible Time Warner Telecom Finalizes Purchase of GST Assets In 2000, More Utahns Sought Debt Relief	New Bankruptcy Opinions (1 new opinion today) Japan: Ex-insurance execs sued for billions ___________ Korea: Applicants flock to become bankrupt firm administrators Seoul to seize W670 bil. from staffs of bankrupt firms ____________ Canada: Boeing jobs hang on fate of TWA ___________ Feds Clear Jitney-Jungle Purchase Dotcoms: $50,000 offer may end Toysmart privacy fight Bad Publicity Contributed to Failure of Fraud Protection Web Site Online Shopping Card Company Cyberbuck Files for Bankruptcy ____________ Vlasic: CEO of Vlasic Foods Resigns - Company still considering bankruptcy Vlasic, in a pickle, may sell to Heinz - Heinz pursues a buyout of Vlasic just days before the pickle company will be forced to file for bankruptcy Ailing Vlasic Foods Hires Turnaround Firm, Says CEO Resigned ____________ FleetBoston Financial Sells $1 Billion In Troubled Commercial Loans Telecoms: Employees Say BTI Telecom Has Begun Laying Off Workers Think Tanks Call for Telecom Policy Changes ____________ Weather Forecast: Enter City, State, or Zipcode: