January 12, 2001 Daily Bankruptcy News

January 12, 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

American Homestar: Sales slump leads mobile home firm American Homestar and 21 subsidiaries into bankruptcy Houston, TX: American Homestar Corporation Commences Reorganization Amer Homestar, 21 Units File For Chap 11 Bankruptcy _____________ TWA: Icahn fights TWA buyout in court Corporate raider seeks priority over other creditors($) Icahn threatens airline lawsuit Casino owner Icahn weighing deal for TWA Icahn Swoops in on TWA, But Takeover Viewed Unlikely Former owner Icahn could enter bidding for TWA Labor Unrest, Corporate Raider Threaten Airline Merger($) Fly Goliath Airlines Icahn Makes Bid To Spoil TWA Takeover Icahn spoiling for fight over American/TWA deal($) TWA Bankruptcy Filing May Affect Aircraft Securitizations($) ____________ Federal Judiciary Seeks Comments On Privacy and Electronic Access To Court Documents Economy: Investors face odyssey in 2001 Greenspan Surprised Even Colleagues U.S. oil holds near $30 as OPEC cuts fuel economy fears _____________ USA Biomass delisted from Nasdaq Smallcap StarNet Financial, Inc. to Acquire Bankrupt Capitol Communities Corporation Subsidiary SunTrust reduces increase in bad loans Lernout & Hauspie: L&H, Belgian Unions Agree to Layoffs ___________ Chicago, IL- Physician, Bankrupt Hospital VP Accused Of Using Homeless In Fraud Scheme Movie Theater Industry: Debt-ridden movie circuits face bargain hunters Anschutz targets 2nd movie chain Lights out at Irvine cinema _____________ Telecoms: Verizon Prematurely Cuts Off Internet Service from Defunct HarvardNet Seattle DSL-Service Provider Listed as `Distressed Telecom completes major buy in bankruptcy sale ___________	Waste Systems International, Inc. and 30 Subsidiaries File for Chapter 11 Reorganization Privately Held Darwin Networks Files For Ch 11 In Delaware Service Merchandise Announces Layoffs, Resignation of President Power Utilities: PG&E details bankruptcy risks Duke would agree to forebear but not forgive California receivables Rolling Blackouts Threaten Calif.($) Calif. Narrowly Averts Blackouts - Utilities Say They Face Bankruptcy Soon($) Clinton doing all he can to avert Calif. power crisis Power plan may include debt delay($) Talks try to map way out of Calif power mess Power Reserves Remain Critically Low PG&E utility unit to cut jobs, services to save $180 mln California power suppliers may get stuck with the tab($) Deal Could Cap Electricity Rates --but at a Price California, blame yourself Feds continue push for wider electricity market in Calif. Davis Says California's Grid Keeper May Bear Blame for Near Blackouts California's mistakes Deregulation leaves California powerless Natural Gas Hikes Not Bankrupting Mexican Firms Virginia Legislation Reflects Doubt about Outcome ______________ Phoenix, AZ: Osage Systems Group Announces Letter of Intent Regarding Sale of Substantial Operating Assets Through Bankruptcy Sale to Pomeroy Computer Resources Dotcoms: End in Sight for Toysmart Data-Privacy Fight Audiohighway.Com Files for Chapter 11 Protection Dim Yahoo Outlook Raises Net Ad Questions Failed Dot-coms and Abandoned Office Space - Offices2share.com Offers a Solution for Landlords, Brokers and Entrepreneurs ___________ Steel: Warren, Ohio-Based steel manufacturer CSC finding it "increasingly difficult" to avoid bankruptcy court Questions linger for LTV retirees ______________ Grand Union Co. sale to C&S delayed Federal Judge Delays Brennan Bankruptcy Fraud, Money Laundering Trial	New Bankruptcy Opinions (1 new opinion today) Canada: Accounts of medical clinic frozen Analyst red flags banks' lending to U.S. auto parts, steel companies($) Canada not immune to California bug _____________ Restructuring . . . Sotheby's, Christie's to increase settlement Nortel to cut about 4,000 full-time positions in 'streamlining' of operations Japan's NEC to reorganize U.S. computer business AOL-Time Warner Merger Prompts CNN.com Layoffs Startec to Restructure Eaton to Restructure Truck Parts Unit Blue292 Announces Comprehensive Restructuring Program ____________ Asbestos: Shares Surge in Firms Linked to Asbestos Armstrong Hldg Declines To Comment On Stock Activity USG Corporation - USG Details Costs for Asbestos and Restructuring Initiatives G-I Holdings (fka GAF) sues personal injury lawyers alleging conspiracy to flood courts with asbestos cases($) G-I Holdings claims asbestos 'avalanche'($) Lawsuit blames lawyers for unfairly ruining ex-asbestos companies($) G-I Holdings Sues Asbestos Lawyers Following Chapter 11 Filing($) _____________ Anna Nicole: Nurse tells court that Smith gave Valium to Marshall($) ________________ Xerox: UK leases net Xerox $435m ____________ TearDrop Golf Company Announces Schedule for Bankruptcy Auction Lids Corporation Receives $25M DIP Financing Consumers Advised To Not Treat Bankruptcy As a Quick-Fix Scheme Heritage Southwest Medical: Providers File Petition to Force Dallas-Area Heritage Southwest Medical Into Bankruptcy Creditors trying to force bankruptcy ___________ New Tri Valley owner might not honor contract with Teamsters Local 748 Weather Forecast: Enter City, State, or Zipcode: