June 11, 2001  

Daily Bankruptcy News

Brought to you by BKINFORMATION.COM - The Source for Business Bankruptcy Information on the Internet 

Also available on the Web (with links to the news stories)  at: http://bkinformation.com/News/DailyNews.htm

Prior editions available at http://bkinformation.com/bankruptcy_news.htm

         
Finova:

Finova, creditors reject GE Capital, Goldman Sachs bid
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FINOVA Announces Creditors' Committee Support of Improved Berkadia Proposal
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GE Cap woos creditors in renewed struggle for Finova
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Bibelot's final chapter: surprises before the end  

Outspoken jurist decides matters of life and debt - Bankruptcy Judge Speer hard-working, fair, area bankruptcy lawyers say

Steel:

Import review may find need to temper position of U.S. steelmakers
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The fool's errand known as fair trade
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As Cleveland mill closing nears, LTV may seek out of labor contract
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Payoffs come slowly for little steel union with big influence

Only in America/Chidanand Rajghatta Mittal and the ballad of American steel
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Steel users aim to deflect costs if quotas imposed
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Steel Town Struggles Amid Layoffs
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Bush is wrong on steel 

GM blasts U.S. steel probe, fears higher costs
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Savings seen as threat to economy
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Banks extend Aladdin deadline
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Ex-L&H CEO will not fight extradition to Belgium
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Shareholders slam Imax bonuses
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Hazard, Ky., Businessman Depressed, Ill after Former Governor's Bankruptcy
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Bankruptcy Reform:

Brighter future awaits bankruptcy bill
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Congress May Get Tough on Busted Small Waste Firms
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Bankruptcy Reform Coming 

Shopping malls not dead yet, but anxious for bankruptcy reform
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Missouri lawmakers urge passage of measure to protect bankrupt farmers

Washington events for June 11-15 - Consumers Union holds briefing on bankruptcy legislation and its effects on the credit counseling industry
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Investors Offer to Acquire Bankrupt California Pacific Rice Milling
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Charleston: Multi-CAP gets bankruptcy deadline: Commission votes to take group to court otherwise
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Telecoms:

Co-ops consider new offers for REAnet
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As Telecoms Fall, California Firms Try to Protect Themselves from High-Speed Internet Outages
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Buried, not forgotten - Landfill company, environmentalists watch clock on 1st anniversary of Safety-Kleen’s bankruptcy
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Payless Cashways bankruptcy aimed at helping to fill the shelves

Mobile Homes Get Stuck in Slump
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Evergreen:

Evergreen Security: big dreams and grand schemes
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Three Men Charged In Theft Of Assets From Evergreen Fund
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Creditors Want Furrs Execs Out

Baldwin Piano: Parachute Not Always Golden 

  Power Utilities:

Calif seeks end to 4 generators' market-based rates
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Courtroom Abuzz: Drop in Gas Price Raises Questions in Probe
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Cloud Covers Energy Bond Sale by State
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Edison Still Backs Davis Rescue Plan
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California Utility To Pay Smallest Creditors First
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Edison utility faces huge hurdles - SoCalEd may find faster resolution in bankruptcy
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Edison CEO 'Optimistic' Lawmakers Will Rescue SoCal Ed
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Maybe the Texas Power Folks Felt It Was Time to Let Prices Drop
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Creditors Will Question San Francisco-Based Utility About Debt Plans
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Hackers Victimize Cal-ISO
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Davis says state turning corner in power crisis

$8 Billion and Counting - Running Total of California Taxpayer Dollars Spent on Energy Rescue

Edison hopeful, as key rescue plan deadline passes
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PG&E: It's not our bill

State Asks Pricing Curbs on 4 Firms
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Developments in California's energy crisis

Why Intervene on Steel but Not on Electricity?
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Creditors hear PG&E's bonus defense / Executives say retention is critical to smoothing bankruptcy process  

Energy Profits a Matter of Design
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Utilities pursue power thieves
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Going Under - week of June 8, 2001
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Kansas City: Former workers say Light & Associates owes clients, vendors $4M

Bridge:

SunGard still wants a piece of Bridge
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Bridge Info files motion to sell assets to SunGard Data

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Turnaround type always finds trouble
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College questions bad investment deal with bankrupt company
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Aerolíneas Argentinas suspends service - Airline half a step from bankruptcy
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Guarantor to Pay Off W. R. Grace 7-3/4% Notes Due 2002
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National Airlines:

Bankrupt National Airlines Is Ichan's Latest Acquisition Target
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Total sale of National is envisioned, losses continue
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National Airlines Requests Extension of Exclusivity To Aug. 31
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Bankrupt stadium sponsors - Stadium name game may get ugly

Bankruptcy trustee pressures state on viatical scam recoveries
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236,006 miles-signs of consumer trouble
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Washington Group, Raytheon in custody battle

When a credit counseling company offers to help you settle debts with creditors, how can you tell if it's legit or a scam operation?
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Economy:

Economic Signals Worsen
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Expert sees little recovery well into 2002
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New Bankruptcy Opinions
(2 new opinions today)

Dotcoms:

You Can't Go Home Again - Lawyers who went in-house to dotcoms are now finding few places to land at their old firms
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iVillage shows door to Women.com workers
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Nice wheels, no Web site: Startup's spending raises questions from investors

Bankrupt Chattanooga, Tenn., Internet Service Provider To Be Sold
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Former Kentucky Governor's Online Textbook Venture Files for Bankruptcy
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Wilkinson online textbook firm follows him into bankruptcy
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Online misery continues as 54 Internet firms bomb in May

What Are Failed Dot-Coms Worth Now?
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Emeritus gets second reprieve on loan
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Judge answers to a higher law - Erwin Katz, an ordained rabbi, presides over federal bankruptcy court in Chicago
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Philadelphia: ATM firm files for bankruptcy protection
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Law firms join trend toward organizing valuable alliances

Internet Advisory Corp. Files Voluntary Chapter 11
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England:

Bankruptcy Law - Broke - and needs fixing
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Germany:

Berlin on edge of bankruptcy after bad loans / City struggles to cope with fallout from financial mess  

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Canada:

The high cost of the high life
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What's in store for troubled telecom
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Australia:

Kid's credit cards to cost banks
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Bankruptcy Reforms

Cut down tall - Bankruptcy helps Poppy blossom anew in the Big Apple

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Japan:

Losing the faith: Japan seeks its soul in rubble of economic miracle
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Ripplewood chief brushes off `vulture' image, touts successes
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Japan's policy makers between a rock and a softening economy  

Japanese companies are finding new ways to boost their profitability - although too many are still avoiding what is really needed
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Koizumi Warns of Further Economic Pain in Japan
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France:

AOM and Air Liberte - Airlines may face bankruptcy
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France may cost Swissair dear- AOM and Air Liberte difficulties make Swissair bankruptcy possible  

Swiss shares lower in thin midday trading; Swissair continues to slide
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Korea:

Hyundai, Daishin Securities Face Crisis Amid Affiliates' Insolvency
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