January 12, 2001  

Daily Bankruptcy News

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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

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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($)

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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

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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

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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

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Telecoms:

Verizon Prematurely Cuts Off Internet Service from Defunct HarvardNet

Seattle DSL-Service Provider Listed as `Distressed

Telecom completes major buy in bankruptcy sale

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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

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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

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Steel:

Warren, Ohio-Based steel manufacturer CSC finding it "increasingly difficult" to avoid bankruptcy court

Questions linger for LTV retirees

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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

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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

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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($)

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Anna Nicole:

Nurse tells court that Smith gave Valium to Marshall($)

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Xerox:

UK leases net Xerox $435m

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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

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New Tri Valley owner might not honor contract with Teamsters Local 748

 

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