January 5, 2001 Daily Bankruptcy News

January 5, 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

JCC: JCC Holding Company Files for Reorganization Harrah's Could Have Written Off $200 Million On JCC Holding Debt JCC Holding Company Authorized to Continue Casino Operations __________ House GOP Set to Create Financial-Services Panel Bankruptcy Leads to Fraud Charges Bankruptcy Reform: Credit Unions, Banks Expect Bankruptcy Bill To Return Next Year ___________ Bankruptcy Court Approves Agreements Between Elder Care and Genesis and Multicare Sale of Houston-Based Diaper Maker's Assets Falls Through LTV: Announcement no shock, but it hits hard Union official says LTV should look to cut costs elsewhere Wellstone visits Iron Range to talk about LTV shutdown Analysts say LTV spent unwisely after first bankruptcy Steel industry faces bleak short-term future Governor's speech may touch on LTV crisis ___________ Lernout & Hauspie: Belgian court probes L&H co-founder Hauspie Troubled Belgian High-Tech Firm Wins Bankruptcy Protection Lernout Chairman Sees 20% Of Workforce Cut (WSJ: paid subscription required) L&H lawyer tells U.S. judge buyers interested in assets ______________ George magazine folds Unapix Entertainment Gets Final Nod On $40 Million DIP Facility Waste Systems International, Inc. Retains Investment Bank, Announces Default On Senior Debt, Missed Interest Payment and Possible Nasdaq Delisting Bankrupt Sun Healthcare to sell U.K. unit Learning From Mistakes- Revitalized Texas Oil Companies Act with Caution	Mass.-based headwear retailer, Lids Corp., files for bankruptcy Montgomery Ward: Closing Isn't Monkey Business for Wards A consumer's guide to navigating the Wards closing __________ Economy: New Jobless Claims Highest in More Than Two Years Nine years of bliss may end in 2001 _____________ Regional banks face profit slowdown in fourth quarter Dotcoms: PSINet faces asset sale, bankruptcy Musicmaker.com Clarifies Remarks of Chief Financial Officer Dot-Crash Update - Fed's Rate Cut Fails to Lift Fortunes at Some Net Firms Group-buying site Mercata to shut its doors NYT: free registration required) BroadcastAmerica fails to strike deal that would save company Musicmaker Falls Silent Rough Road Ahead for Internet Stocks? A Shelter from the Dot-Com Storm: The Latest Victim of the Shakeout May be a Survivor Creditor Moves to Stop Pseudo.com Bankruptcy Auction EToys Cuts Jobs, Sees No Profits ____________ Asbestos: Federal-Mogul Corporation clarifies news reports regarding asbestos liabilities Armstrong cuts 56 corporate-level jobs Federal-Mogul Gets New Credit Lines, Plans to Fight Asbestos Litigation Owens Corning to buy Foundry & Steel assets ___________ USA Biomass To Be Delisted From Nasdaq Jan. 11 Boston, MA: Businesses Falling Prey To Economy - Three Local Chains Suffering Rabbi sentenced to halfway house for illegal bank deposits	New Bankruptcy Opinions (1 new opinion today) England: Bankrupt names seek inclusion _______________ Power Utilities: Calif To Act To Head Off Utilities Bankruptcies -PG&E Lawmaker Expected To Unveil Bond Bill To Aid Calif Utils White House Calls Summit On California Power Crisis Wall Street Hammers Credit Rating, Stocks of California Utilities DOE Ready To Extend Order Mandating Pwr Supply To Calif. Fitch Lwrs So Cal Ed, Pacific Gas & Elec Below Investment Grade Power Crisis -- real or imagined? Investors Fear Temporary Rate Increases Won't Keep Calif. Utilities Solvent Edison, PG&E Shares Drop at Least 40 Pct In California, the Sad Saga Continues Lights Out For Utilities Effect of State's Energy Crisis on Economy May Have Worried Fed Calif. PUC Approves Interim Rate Hike for PG&E, SCE Californian utilities' woes spread to power providers as concerns about collectability of utility receivables mount ___________ Pickle maker Vlasic downgraded after missing payment American pilots union challenged; Small rival says debt from court judgment will spell end of APA Laidlaw says has $100 million financing Ann & Hope To Close 4 Mass. Stores, Lay Off 1,400 Restructuring . . . DSL providers continue cutbacks CrossKeys Implements Restructuring Plan Engage, Inc. to lay off workers Advertising.com(SM) Reduces Workforce Jordan American Holdings, Inc. Announces Corporate Restructuring ____________ Weather Forecast: Enter City, State, or Zipcode: