June 22, 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

         
Telecoms:

Loral falls to Earth
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Telecoms' Woes Just Beginning
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PSINet Breakdown Continues
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PSINet Subsidiary Sells VSI to Founder  

Sale of companies may fund REAnet
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National Airline:

Icahn drops bid for National Airlines
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National Gives Icahn Cold Shoulder
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Icahn withdraws airline offer: Board of struggling National rejects US 181.5M plan
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Wolf Camera:

Wolf Camera's bankruptcy hits Kodak
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Wolf Camera focuses on survival
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Steel:

Bethlehem Steel tries for new credit terms, faces June 30 deadline
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LTV losing more than $2 million a day
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LTV Consultants Seek Millions
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Algoma Steel granted second extension of court-ordered bankruptcy protection
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Bankruptcy no option for Shoney's
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Former Workers of Kentucky Bookstore Feel `Duped' Into Staying with Firm
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Bankruptcy Court’s Ability to Confirm a Chapter 11 Plan that Pays Priority Tax Claim in Unequal Installments
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Finova: The knackers arrive
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Bankruptcy can't be basis for denying job
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Struggling, bankrupt Food Etc. factory on the block - Lawyers say brothers' debt to Catholic Archdiocese secure
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Founder of KC bagel firm resigns after acquisition by national chain
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EnvisioNet Ties Down Deal for DIP Funding
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  Power Utilities:

Billions At Stake In Power Palaver
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Enron CEO Blasts Calif. Regulators
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Tough talk on power prices  

Protest, cream-pie greet Enron boss in California
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Edison unit to pay steep price on $1.2 bln bonds
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Democrats Step Up Push for California Power Refunds
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Howard Rice's Rosy View
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Showdown Next Week in Energy Wars
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Cherokees balk at loan to save tribal company facing bankruptcy
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Nasdaq warning for Network Commerce; delisting could trigger bankruptcy
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Baldwin, creditor still negotiating
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Medical disorder - Court officer, health plans confront massive pile of patient records left by KPC's bankruptcy
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DeVlieg-Bullard's liquidation delayed
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Dotcoms:

Options and Alternatives for Troubled Internet Companies
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Dot-Bankruptcies Slow Down
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National Record Mart pushes for Chapter 11
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Firm Responsible for Lawyer's Failure to Record Security Interest
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AFX drops Bridge bid
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Dayton's Andacollo Mine Begins Formal Liquidation Of Mining And Plant Equipment
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Maxicare Health Plans to be delisted from Nasdaq
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Co-Founder of Bankrupt Stan Lee Media Sues Clintons Over Campaign Funds
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Suit Says Firm Ruined Marketer - Bankruptcy Trustee Alleges Anadarko Drove Mountain Energy Into Insolvency
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No silver lining for silver screens in the US - Many US cinema chains face bankruptcy because of over-development of megaplexes
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New Bankruptcy Opinions
(6 new opinions today)

Florida Homestead Ruling:

State Supreme Court rules that wealthy debtors can shield assets in homes 

The Opinion
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Washington Group:

Raytheon and buyers' remorse
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WGI Plans to Give Bonuses $25.9 Million to Go to 500 Employees, Not Shareholders
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Deal Allows Washington to Buy Up to 40% of WGI
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Chairman to lead company through financial restructuring and beyond
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It's a good bet the bankrupt Regent Casino's troubled times are far from over
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Collier Bankruptcy Case Update
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Japan:

Japan's PM Announces Bank Plan
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Argentina:

Argentine Airline Seeks Bankruptcy Protection
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Canada:

Alberta trustee seeks former bank superintendent in probe of mall bankruptcy
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Australia:

US creditors push to pick HIH bones
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Scotland:

Call for more debtor protection
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England:

Criminal probe into Independent crash: Liquidators reveal insurer would have run out of money in weeks
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