January 8, 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

Noose tightens around PSINet


U.S. Retail, Manufacturing Suffer

Rust Belt Seeing Its Luster of the '90s Start to Fade



One-third of listed Net firms may run out of cash

Innovative Web Retailer Mercata Folds

News Corp. shuts Web unit

It's Crash and Burn for Online Travel

Burning Down to the Bargains- Even as 'Net firms burn cash, smart investors smell opportunity

Deal falls through to save Internet broadcasting firm, BroadcastAmerica



Reliance Group Formally Opposes Icahn Tender Offer

Reliance files lawsuit


Bilzerian Files for Bankruptcy

Additional filings detail New Orleans casino's debt

Anna Nicole:

Pinup got biggest U.S. court award of 2000

Anna Nicole Ejects from Texas Trial

Settling for $475M

Cashing Out


LTV/Steel Industry:

Banks Will Benefit If LTV Goes Bankrupt

Wheeling-Pitt bankruptcy provokes anger, despair at industry' s decline

LTV Lays Off 100 at Cleveland Works

NYSE suspending LTV, company to trade on OTC exchange

Steel makers off track


Slow retail sales may trouble mall owners

Leased-out Lids Flips For Chap. 11


G-I (fka GAF) Files Chapter 11 Petition To Resolve Asbestos Liability Claims

G-I Holdings' Bankruptcy Filing Cites Exposure in Asbestos Cases
(WSJ: paid subscription required)



Laidlaw mum on future of company

Little hope of recovery for Laidlaw investors




  Lernout & Hauspie:

L&H cuts 1,200 jobs in U.S., Belgium

L&H to cut 800 employees this week

Creditors Uneasy After L&H Belgian Bankruptcy Protection
(WSJ: paid subscription required)


Telecom Tightrope- Like real estate a decade ago, telecom threatens to topple the economy

Power Utilities:

Calif. Gov. Davis Under Pressure As Power Crisis Grows

Officials Seek Fix for Calif. Power Crisis

Bankruptcy May Provide Refuge for Calif. Utilities

Power rescue plans involve bonds

Bankruptcy for utilities could have wide effect

California's power suppliers nervously watch utilities

Other States Can Offer Energy Policy Lessons

Report links mass power plant shutdowns, high rates

Why can't rating agencies agree on Calif utilities?

California power deregulation seen as debacle

Domino Effect: Energy Crunch Hits Factories

Chronology - Key developments in California power crisis

DOE Again Orders Power Suppliers Into Calif Market

Calif. Power Becomes Political Fight

Key facts about California utilities

Let's Keep The Lights On

S&P says SoCal Edison probably closest to bankruptcy

Redding residents insulated from spike in California utility costs

Philadelphia Gas Works Files For Base-Rate Increase

$10-Billion Plan for Power Authority Would Reverse State Deregulation

PG&E Says Company Not Considering Edison-Style Layoffs

Rate increases spark anger in California

Bank of America leads on PGE's $1 bln line

Calif. utilities' troubles spark bad loan scare


Denver, CO: Stage closing all but 1 store

JCC Holding Co. says its casino jobs secure for now

American Film Technologies, Inc. Files Chapter 11  



New Bankruptcy Opinions
(2 new opinions today)


PetroChina says cut 38,000 jobs in 2000



Canada joblessness down as U.S. economy slides

Economic flu heading north, economist says

California power woes a warning for Ontario

Healing residential school abuse a tough sell



American Airlines Poised to Acquire Trans World Airlines

Report: American To Buy TWA


Outboard Marine:

Outboard Marine on auction block

Beyond bankruptcy Now, it's time to keep Chris-Craft workers afloat


Bankruptcy Reform:

Banking Industry Continues To Fund Political Contributions


Movie Theater Industry:

CinemaStar Files For Bankruptcy

Nasdaq halts trading of CinemaStar after bankruptcy filing

Cobb Theatres back in the spotlight

Movie Cineplex Chain Closes Denver Outlet


Restructuring . . .

SCI To Sell Over 500 Funeral Homes, Cemeteries

MarchFirst Lays Off More Staff to Reach Savings Goals

Bausch & Lomb Slashes More Jobs

eCal Restructures Operations

THCG to restructure, cut headcount by 35 pct


Montgomery Ward Gets Court OK To Use $140 Million Collateral

Denver, CO: Uniform Commercial Code due for a legislative update

Norfolk, VA: Be-Lo, Fresh Pride operator files for bankruptcy

Shaman Pharmaceutical Files for Chapter 11

Thermatrix Announces Plan of Reorganization


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