June 12, 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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Buffett Beats Welch In $8B Finova Bidding
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Finova's Creditors Approve Bailout
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Finova's Shares Rebound on Bailout Deal
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Desperately Seeking Financing
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Telecoms:

GE Capital exposed to big telecoms risk
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Once-booming pager firms dwindle toward bankruptcy

Peering Controversy Clouds PSINet Asset Sale
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Steel:

LTV seeks to void union contracts  

Steel Curbs Mean More Protectionism
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LTV Seeks Labor Contract Overturn
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Cleveland Area Representatives Speak Out Against LTV Corporation Action to Dissolve Union Contract
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Executive Director of Emergency Steel Loan Guarantee Board to Visit Wheeling-Pittsburgh Steel Facilities
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Long Story of Kansas City, Mo., Steel Firm Ends on a Sad Note
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Structural weakness strains steel industry
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Cleveland-Based Steel Company Moves to Cut Benefits
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National Airlines still talking to Icahn about bailout
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Lernout & Hauspie:

L&H's Bastiaens seeks dismissal of bankruptcy filing
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L&H exec withdraws U.S. bankruptcy filing
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  Warnaco:

Hemmed in, Warnaco goes bankrupt
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Warnaco Receives Court Approval for $600 Million DIP Financing
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Wachner style questioned in Warnaco trouble
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Warnaco Files Voluntary Petition Under Chapter 11 of U.S. Bankruptcy Code
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Banks Sank Linda's Bid To Sell Companies
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Clothier Warnaco Files for Bankruptcy
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Speedo maker taking a bath
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Warnaco Shares Suspended by NYSE
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Bankruptcy Reform:

Law Could Hurt Counseling Agencies
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Bill to Tighten Bankruptcy Gets a Push
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Trans World Heirlooms
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Morgan Stanley considers merger with American Express
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Flooding in Houston Delays Acquisition of Bankrupt Crescent Broadband
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Acosta Hires 1,700 Marketing Specialist Employees
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Converse Unveils New Management
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Paying taxes: All active federal judges should ante up
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Bankruptcy Judge approves Farmers Co-op sale
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Spartanburg, SC: Judge rejects mill bankruptcy request 

Georgia-Based Parent Firm of Clock Maker Considers Bankruptcy
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Grapevine, TX: Financial problems force bankrupt nursing home to close - Residents told they have 30 days to move

Stellex Files Bankruptcy Recovery Plan
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New Bankruptcy Opinions
(2 new opinions today)

Power Utilities:

Edison unit to sell notes to pay off parent's debt
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Cloud covers energy bond sale by state
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Options discussed for PG&E debt repayment
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U.S. Panel Steps Up Probe of Supplier / Natural Gas: Charges of Price Fixing
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Who'll pay billions in PG&E debt? Consumers, taxpayers and asset sales are among the options.
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Air Standards Lowered for Power Plants / Davis Order: They Can Run Overtime
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Cross-border bankruptcy proviso stuck
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Bankrupts must be creative overseas
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Video Update Receives Final Approval for Debtor-in-Possession- Financing Agreement With Movie Gallery
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Japan:

Experts warn 3 hard years ahead after reforms
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Tough love fails to run smooth in Japan
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Collapse of management based on unrealized profits
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Japan's Economy Contracts
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Canada:

ASC Avcan Systems: Bankruptcy Annulled
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France:

Staff at Bata demand guarantees in case of voluntary bankruptcy
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