February 12, 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

         

Finova:

Finova bailout may get messy
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Goldman, GE Unit Seek Effective Control Of Finova
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Battle For Finova May Scuttle Goldman, GE Capital Plan
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Bankrupt Landels Takes Aim at Six Former Partners
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Power Utilities:

California vs. PG&E and SoCal Edison
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California Utilities Want Suit Against Public Utilities Commission to Proceed
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SoCal Edison To Allege That "It Was Acting In Strict Compliance With The Law" When It Gave Its Parent Nearly $2 Billion
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Edison faces key deadlines - As creditor grace periods end, bankruptcy once again looms
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How Utilities Profited From Panic
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Calif. Utilities to Face Judge, Deadlines
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Billions at issue in ruling on rates
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California Crisis Has Residents Seething
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Calif. power suppliers form creditors group
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Storm Convergence: Investigators search for cause of crisis
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Governor Postpones Rescue Plan for Utilities
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Edison Officials Tapped Calif. Utility Funds
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California's Energy Policymakers Must Be Dreaming To Think They Can Defy Economics Forever
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Calif. Gov. sees utility debt accord soon
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Utilities Pin Blame On State for Crisis

California state leaders fear ratepayers' revolt
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From Bright to Dim, Ideas on Energy Pour In
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Calif. Power Crisis Grinds on But Some Relief Seen
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Firms Look to Insure Against Power Loss
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Debt-ridden SoCal Edison gave parent company $1.4 billion
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UK generator eyes California move
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Natural Gas Shortage Could Chill Calif.
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Electric Power Debate Centers on Price Caps
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Wartime Gas Law Under Fire/Gramm seeks to curtail 'dangerous' federal power to force fuel sales  

Beware the easy fix of energy price controls
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Letter from California governor raises debate
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California Water Departments Sets Price Ceiling on Emergency Power Buys
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Flip-Flop on Power

Some Observers Question Investment Banks' Role in California Power Crisis
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Denver: Steele's Markets files for bankruptcy
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Dallas: Bankrupt Tri-City verdict against doc sends 'strong message'
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Finance: Lessons and Lawsuits - Lawfirm Phones Are Ringing Off The Hook
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Icahn makes no progress in bid for Reliance bonds
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City of Seattle outbids seven others to acquire Interbay golf course at New York bankruptcy sale
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Tampa, Fla., Phosphate Mining Company Files for Bankruptcy Protection
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Philadelphia: Uncertain times are good times for Sunrock
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Consumer Credit Quality to Worsen on Layoffs
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Americans Face Greater Debt Burdens
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  Bankruptcy Reform:

Senator Wellstone Tells Senator Lott Bankruptcy Reform Legislation Is Ill Conceived
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Legislators Revive Bill to Toughen Bankruptcy Laws
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Some Democrats seek revisions in bankruptcy-overhaul legislation
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Movie Theater Industry:

Read the book, see the movie
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Loews Cineplex in Talks for Takeover by Onex, Others
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Loews' 5-Star Hit
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Loews in talks for restructuring
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Canadian bidding for huge theatre chain
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Schwartz sets his sights on troubled Loews
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TWA:

Varied group to bid for TWA
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St. Louis: TWA gates deal strengthens city's ties with American
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TWA Stock Trades Furiously after Bankruptcy Announcement
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Mystery surrounds new suitor for TWA
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Outboard Marine:

Court Approves Outboard Marine Sale to Bombardier, Genmar Holdings
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As if Irwin Jacobs needs another boat company
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Allegations surround Brunswick's motives in OMC deal
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Banks grow cautious with consumer loans
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Dotcoms:

'Dot-bombs' fuel major bankruptcy explosion
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How eToys Could Have Made It
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Reeling from the dot-com fallout
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Web Sites Feeling the Money Crunch
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Ready, set, rollup!
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Tech failures leave landlords in a lurch - Volatility of dot-coms echoes through the real estate market
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As dotcoms continue to fall, Oracle shares shed value on analyst report
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Liquidation World profits rise as company benefits from retail slump
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Indianapolis: Financial woes force childrens' home facility to close doors
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First Wave:

Soft market forces First Wave to file Chapter 11 bankruptcy
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Houston: Local shipbuilder FirstWave files for Chapter 11
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Montgomery Ward's Wares May Be Completely Sold Out By April
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Atlanta: Tenet Healthcare strikes deal to acquire South Fulton hospital out of bankruptcy
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'Botanika' name to live on
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Bank hunts collector who improperly uses Michigan National name
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Anna Nicole:

Ex-stripper and billionaire's sons continue court battle over estate
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Computer Learning Center:

Bankruptcy leaves computer students without a program
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Sallie Mae provides aid to bankrupt school's students
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New Bankruptcy Opinions
(2 new opinions today)

United Kingdom:

Getting tough on bankruptcy
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DTI to announce wide-ranging revamp bankruptcy laws

Court date set for Hamilton bankruptcy

Byers to reveal overhaul of insolvency law

Bankruptcy bogeyman
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Broke Star Alford's Tax Quiz
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Japan:

Failed bank execs to be held accountable
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Russia:

Moscow to probe insolvency loopholes

SBS-Agro Creditors Mull State-Brokered Deal
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Czech Republic:

Prague sells $509m of bad debt

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Israel:

LanguageWare.net (formerly Israeli company Accent) files for bankruptcy
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Sunbeam:

Tough choices aren't over yet for Sunbeam
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Deja Vu All Over Again: Perelman struggles to keep Revlon afloat as Sunbeam slips into Chapter 11
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Sun sets on Sunbeam
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Party On, Ron: With his biggest holdings in the tank, Perelman is squeezing fellow investors
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Drypers will go on auction block early next week
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Coram's Independent Committee Responds to Equity Committee Statement
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Lernout & Hauspie's Mendez unit reportedly has 5 interested buyers
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Telecoms:

Baby Bells threaten to re-monopolize DSL service
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Vendor financing bites back: Pulling Lucent back from the brink
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ServInt bankruptcy stems from growing `too fast'
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Wireless Giants Won F.C.C. Auction Unfairly, Critics Say
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Savvis has seven weeks of cash left - Internet firm burns through $45 million in six months
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Puma North America Files Objection To LogoAthletic Bankruptcy Sale To Reebok
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Furrs Supermarkets Gets Court OK On $33 Million DIP Financing
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Mapping the genome could drive the pharmaceutical industry into bankruptcy

Restructuring . . .

Lechters to close 166 stores, cut 725 jobs
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Record Date for Distributions Under KCS Energy, Inc. Plan of Reorganization
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Center for Claims Resolution Alters Approach to Benefit Members, Claimants
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AmeriComm buyout took quick financing, long hours
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Suddenly, a run on Converse sneakers
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