April 6, 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

         
FutureOne, Inc. Files Chapter 11
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Laidlaw, Parent of Dallas-Based Greyhound Bus Line May File for Bankruptcy Protection
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A.D. Tech files for Chapter 11 bankruptcy; auditors resign
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Some RBX noteholders face challenge
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New World Announces Agreements to Support Reorganization Plan Filed for Einstein/Noah
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Buchanan Ingersoll Acquires New Jersey Bankruptcy Firm

ISDA derivative contract change on debt restructuring cheers investors
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If Bankruptcy Court Approves, Quincy Shipyard Builds Again
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US Credit Card Losses Could Rise
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Dotcoms:

Xyan.com files for Chapter 11 bankruptcy protection
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No takers for bulk of eToys assets
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Dot-Com Bomb Creating Glut in Office Space Around Nation
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Fewer Dot-Coms Shut in March

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Restructuring . . .

Supervalu to Cut 4,500 Jobs
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U.S. Corporate Layoffs 162,867 in March
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Bankrupt Plainwell, Inc. Hires Investment Banking Firm to Explore Strategic Options, Including Company Sale
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Bankrupt Kevco, Inc. Announces Agreement to Sell Better Bath Division
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Chapter 7 Bankruptcy Looms on Horizon for Dallas-Based Legend Airlines
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Judge OKs Borden Chemicals bankruptcy financing for now
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Missouri Secretary of State Requests Venue Transfer of Sinclair Financial Group Case To Missouri
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WR Grace:

Saving Grace
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  Power Utilities:

Calif. Gov. proposes restructured electric rate hike
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Calif. Governors Speech Criticized
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S&P worried PG&E, Edison won't recover quickly
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Politicians seek shelter as energy Armageddon looms
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Calif. utilities' situation grave
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U.S. Democrats push price cap plan for Western power markets
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Davis' solutions may be in trouble: Skepticism is now growing among Democrats over a plan to purchase transmission lines
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Pacific Gas & Elec halts preferred dividend payments
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S&P comments on Calif utilities' possible writeoffs
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KPMG sues L&H , alleges audit obstruction
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Economy:

More People Applying for Unemployment Benefits
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Fed's Parry says Fed to be "especially alert"
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Bankruptcy judge sets April 12 for PMH sale decision
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Bankruptcy judge dismisses petition against prominent Detroit law firm
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ABB will list on NYSE despite asbestos claims  

Bankrupt London Fog may soon see clear skies
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National Finance 'de facto' head fights liquidation push
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TWA Reaches Key Agreement With IAM
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Wards’ last remnants sold - As fixtures and equipment are auctioned off, longtime employees express sadness
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Va. Man Admits Defrauding Debt-Ridden Homeowners - Victims Paid to Avoid Foreclosure, Lost Homes Anyway
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Credit Card Nation - As The Economy Worsens, Mounting Debt Takes Toll

More Students Are Falling Into Credit Card Debt
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New Bankruptcy Opinions
(No new opinions today)

Telecoms:

High-Speed Shutdown Hits Business
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Twisting the Knife Into Telecom
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World Access defaults on notes
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World Access bondholders launch Chap. 7
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Cisco feels the heat as US bankruptcies mount

World Access bondholders want company dissolved
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Winstar Wireless Communications Company Cuts 2,000 Workers, Curbs Expansion
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Departing Rhythms CEO sold 600,000 shares
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Sunterra Corporation Receives Court Approval for New Debtor-In-Possession Financing Agreement
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FDIC Wants to Charge All Banks for Insurance, Raise $100,000 Limit
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Bankruptcy Fears Hit Tech Names
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Lasik clients robbed blind?
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Bankruptcy Reform:

Home cap imperils bankruptcy bill
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Congress Mulls Bills to Tighten, Toughen Bankruptcy Laws
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Credit Unions play key role in bankruptcy reform
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Home Exemptions Snag Bankruptcy Bill
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Big U.S. Banks' Profits Seen Lower
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"One Riot, One Ranger," Airlines losing millions as firms cut back travel
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Finland:

Top auditors sentenced to pay millions in damages to bankruptcy estate
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Japan:

Gov't approves emergency economic package
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