January 17, 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


Power Utilities:

Power Firm Demands Utilities Pay Bills Now (DBN Subscription Required)

SoCal Edison Suspends Debt Payments 
(DBN Subscription Required)

Power rescue prospects dim - PG&E has bankruptcy counsel, but won't name firm (DBN Subscription Required)

Lawmakers approve power relief plan (DBN Subscription Required)

California power developments at-a-glance (DBN Subscription Required)

Calif. sees federal intervention on gas (DBN Subscription Required)

PG&E given shield vs. creditors (DBN Subscription Required)

Citibank prices ABS deal, stranded cost bonds dim (DBN Subscription Required)

Californian power generators haggle over pricing plan (DBN Subscription Required)

White House says up to Calif to solve power crisis (DBN Subscription Required)

Los Angeles Dept. Of Water And Power Threatens To Pull Plug On Edison (DBN Subscription Required)

California Moves Closer to Unhappy Ending to Power Problems (DBN Subscription Required)

PG&E Corp Says 8-K Filing Delayed, Still Being Drafted (DBN Subscription Required)

California Utility's Power Supply Could Be Cut (DBN Subscription Required)

MBIA, Ambac have no exposure to SoCal Edison notes

Group urges Congress to pass electricity laws

California PUC - "Bankruptcy A Very Real Possibility" (DBN Subscription Required)

Wall Street unsure if it's time to buy hammered utilities (DBN Subscription Required)

Dynegy Watching Underpowered Areas (DBN Subscription Required)

California seen narrowly averting blackouts - SoCal Edison halts debt payments, credit rating cut to junk status(DBN Subscription Required)

S&P Cuts Pacific G&E And Parent to Junk
(DBN Subscription Required)

Is Gamesmanship At Play? (DBN Subscription Required)

Big Utility Will Miss Payment Calif. Crisis May Force a Bankruptcy (DBN Subscription Required)

Two Calif. Utilities Closer to Bankruptcy (DBN Subscription Required)

Only 54% of Californians Feel That There Is an Energy Crisis (DBN Subscription Required)


BioShield Unit Moves To Chap 11 Bankruptcy From Chap 7 (DBN Subscription Required)

Nasdaq To Delist Pacific Gateway Exchange   

  Imperial Sugar:

Imperial Sugar, Largest U.S. Sugar Processor, Files Chapter 11 (DBN Subscription Required)

Imperial Sugar Company Receives Bondholder Approval and Bank Financing Files Pre-negotiated Plan of Reorganization (DBN Subscription Required)


Salary Wars: The Sequel? - The Bidding Will Open At $170,000 (DBN Subscription Required)

Slowing Economy Has Law Firms Expanding (DBN Subscription Required)

HomePlace Stores Files For Chapter 11 Bankruptcy In Del. (DBN Subscription Required)


Billionaire seeking others to offer bid for airline (DBN Subscription Required)

Aircraft Leases Could be Key to Viability of American-TWA Merger (DBN Subscription Required)


Steel Industry:

Canadian steel giant Stelco warns of $50M loss in Q4, wiping out 2000 profit

Governor Taft heads to LTV Steel to gather information on industry's woes (DBN Subscription Required)



Business inventories rise, sales fall  
(DBN Subscription Required)

U.S. Southeast economic outlook clouded by layoffs


Lernout & Hauspie:

Lernout & Hauspie CEO Resigns (DBN Subscription Required)

Lernout & Hauspie CEO Duerden Resigns Amid Executive Shake-Up (DBN Subscription Required)

L&H names Philippe Bodson as CEO

FLV Fund on the block (DBN Subscription Required)


Movie Theater Industry:

Loews seeks financing in possible bankruptcy prelude (DBN Subscription Required)

Loews misses deadline; ponders sale of assets (DBN Subscription Required)


Morris Material Handling, Inc. Files Plan of Reorganization

Creditors to rule on Malevich painting

High Point, NC: Furniture Manufacturer U.S. Furniture Industries Closes Doors

Debtors can't be forced "to sell apples on the street ... to satisfy an impossibly large unsecured obligation (DBN Subscription Required)

Johnson and Evinrude: Bankruptcy puts history in jeopardy (DBN Subscription Required)



New Bankruptcy Opinions
(2 new opinions today)

Creditors sue Adventists over bankrupt hospital (DBN Subscription Required)

Brobeck Launches National TV Advertising Campaign


Globalstar suspends debt payments (DBN Subscription Required)

Northpoint to file Chapter 11, sell assets

Globalstar suspends debt payments (DBN Subscription Required)

Globalstar shareholders at risk in firm's debt crunch (DBN Subscription Required)

Globalstar's pain may hurt partners (DBN Subscription Required)

Faltering Globalstar Stops Its Debt Payments (DBN Subscription Required)


Southwest Airlines’ Big Fuel-Hedging Call is Paying Off (DBN Subscription Required)

Citigroup's profits rise, Bank of America's slide (DBN Subscription Required)

Bad Loans Burn Bank of America (DBN Subscription Required)


Chiquita halts debt payments, stock plunges (DBN Subscription Required)

Chiquita stops paying debt (DBN Subscription Required)

Chiquita planning to file for bankruptcy (DBN Subscription Required)

Chiquita Might Wind Up in Chapter 11 (DBN Subscription Required)


Oklahoma: Bankruptcies decline again in state's northern district

Legend Airlines:

Judge OKs 20M Financing for Legend Airlines (DBN Subscription Required

Judge OKs Legend deal with investors (DBN Subscription Required)



Ailing Drkoop.com Cuts 45 Jobs and Heads West

LanguageWare.net Announces Plans to Wind Down Operations

Online Real Estate Businesses Struggle in a Doubly Difficult Market (DBN Subscription Required)


Restructuring . . .

Denver, CO: Costs force Rhythms to lay off 450


Asbestos Panel Objects To Owens Corning Employee Programs

Natural Wonders Shares To Be Delisted From Nasdaq Jan. 17


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