January 2, 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


Steelmaker LTV Files for Chapter 11

LTV says court approves plan to keep company running

Local Bank Won't Cash LTV Employees' Paychecks

LTV To Stay Open For Time Being

Bankruptcy won't halt city bid for LTV funds

Firm steels itself for 2nd bankruptcy

LTV Files For Chapter 11; Bank Deal Averts Closings

Steel Imports Force LTV to Bankruptcy

Analysts expect major changes in LTV if it survives ordeal

Cleveland-Cliffs says LTV's actions to determine impact

LTV steel back in trouble - A shutdown? - Nation's fourth-largest steelmaker seeks bank reprieve, says pensions threatened

List of bankrupt US steel makers grows


Bankruptcy Reform:

Gekas puts bankruptcy law reform at top of list


Auditor Raises Going Concern Doubt For Imperial Sugar

Moody's sees 17 Dec. corp defaults, capping awful year

Continuing Troubles at HMOs Promise a Wild Ride

Stage Stores Announces New Store Closing Program

Nasdaq delists Metal Management from smallcap market


Legend Airlines Approved for Restart

Loans jumpstart Legend Air

Legend terminal could be next battlefield at Love



Trenite Van Doorne Law Firm Is Curator For Letsbuyit.com

Judge Rules That Failed Dot-Com Can Resell Its Lease
(NYT: free registration required)

Internet Sports Network Announces Its Plans to Cease Operations

Old-Line Retail Sense Humbles Dot-Coms

New Economy Sours
For Venture Funds
(WSJ: paid subscription required)

Austin, Texas-Based Web Garden Firm to Shut Down

Investors, Consumers Buy a Dot-Com Bill of Goods

Online energy exchanges may bomb


Retail Industry:

Post-Christmas, the Outlook Is Grim for Stores

Malls report brisk after-holiday traffic, but retail future looks bleak

Analysts Say All Signs Point to Under-Par Retail Season



2001's 'soft landing' could get a little bumpy

New year slowdown starts early


  Pacific Gateway files for Chapter 11 bankruptcy protection

San Antonio, TX: Bankruptcy trustee's suit attacks InverWorld's New York counsel, alleging "lawyer malfeasance of staggering proportions."

Montgomery Ward:

Montgomery Ward Remnants of Little Value

Word of Ward Closing Attracts Crowds at Last

Ward's Problems Ran Far Too Deep For Stars To Solve

Penny pinching hurt Wards

Explosion Of Retailers Helped To Sink Wards

Wards policy upsets some

Ward's Closure Bolsters Firm's Plans to Build 'Italian Village'

Demise of Montgomery Ward Will Ripple Through Industry
(WSJ: paid subscription required)

Ward's closings to cost state nearly $26 million in wages

GE `swung and missed' with retailer Wards


Bankrupt Landels Ripley Law Firm Gets $5M for Lease

Newer Technology ceases operations; to seek bankruptcy

Bradlees to Honor Cash Cards and Exchanges Through January 15, 2001


Drypers- Court OKs Paragon Trade As Stalking Horse Bidder

Georgia Firm Offers $70.2 Million for Ailing Drypers


Power Utilities:

PG&E says credit crisis puts Feb natgas supplies in doubt

California Utilities Outrage Customers with Huge Rate Increase Requests

Consumer groups question Calif. utilities rate hike demands

Natural Gas Suppliers Are Refusing to Sell to PG&E

Dark Days for Edison's Bright Light


Dorsey Trailers Announces Further Actions Under Bankruptcy

Lernout & Hauspie:

The Talk of Flanders Has Most Speechless


GlobalMedia.com Announces Restructuring of Business Including the Sale of Radio Assets to SurferNETWORK.com

Gaming Industry:

Regent vows to stay open while renegotiating loans



Cruise line hurt by rapid growth


Bankruptcy Blues May Play Into New Year

Tacoma, WA: T&W files liquidation plan

Regal: Debt may pull plugs on movies

U.S. Trucking Plans Move And Stock Split

Austin, TX group acquires custom club retailer in bankruptcy sale



New Bankruptcy Opinions
(1 new opinion today)


Officeland Files a Notice of Intention to Make a Proposal

Churches struggle for financial stability, forgiveness in residential school fallout



'Depressing' Dome closes down



Banks, Creditors Will Extend Hyundai Engineering's Loans Until June

S. Korea Injecting Funds Into Banks

SKorea President Seeks Restructuring



Buried in the Books

Ailing Sogo firms paid chairman

Tokyo's Market Plan- A New Bank Bailout?


Restructuring. . .

ECI Telecom cuts 400 jobs to reduce costs

Cascades Completes its Restructuring

Cybex to lay off 26 percent of employees, show Q4 loss

Berlitz considers buyout, will restructure, lay off

Polysindo Bondholders Reach Agreement in Debt Restructuring Process

Schrempp says Chrysler restructuring to take 2 to 4 years


Leaving law behind: Government bankruptcy lawyer makes big career change

St. Petersburg, FL: Area law firms prepare for bankruptcy boom

Drypers Corporation Announces Proposed Transaction With Paragon Trade Brands

Specter of Bad Loans Haunts Chase-J.P. Morgan Union


Bradlees bends to pressure

Bradlees to honor its gift coupons


Number of bankruptcies drop in Vermont for second year in a row

Layoffs coming at Wheeling-Pitt

Evansville-, IL: Dog N Suds closes five restaurants, reportedly files bankruptcy

Consumer Credit:

Consumer credit troubles predicted to rise

Wichita, KS- Home foreclosures are on the upswing, and experts say consumer credit habits are to blame


Conseco, Finova Rise on Buffett Buy News

As Buffett Buys Junk, Others May Follow

Atlanta, GA: Medical management firm seeks bankruptcy protection


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