June 26, 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

         
NextWave:

NextWave could get spectrum licenses back
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Ball in NextWave's court for wireless licenses
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Court Throws Out FCC Spectrum Auction
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The FCC's in big trouble
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The Wireless Small Business Sham
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Verizon Wireless IPO Clouded By NextWave Auction Ruling
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Appeals court reverses $17B airwave auction AT&T, Verizon could lose licenses to NextWave
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Ruling Is Lift to NextWave Investors
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FCC-NextWave spectrum war may lead to delays

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Chicago Lender Turns Slowdown Into Profits
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First USA Woes Bedevil Dimon's Turnaround Plan
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Kansas City: Ex-Briarcliff CEO files bankruptcy, faces $1M suit

CMI & creditors look to pull out of Chapter 11
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Dotcoms:

The Layoff Payoff
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Bankruptcy auction turns Napa Valley's Wine.com e-tailing dream to vinegar
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Failed Marketplaces Keep Piling Up
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Web Site Tries To Resell Dot-Bomb Know-How
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Caliber Bets Wrong
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Demand for San Francisco Offices Plunges
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Steel:

Bush Administration Steel-Import Filing `Vital First Step on the Road to Recovery'
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US steelworkers say won't help Bush on trade bill
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Bush gambles on steel complaint

United Steelworkers President See Progress in LTV Creditor Talks
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Last Load of Taconite Pellets Ends Era for LTV Steel in Hoyt Lakes, Minn.
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SunCruz:

Boulis estate claims control of SunCruz
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Partner relinquishes control of SunCruz Casino
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SunCruz manager remains at helm amid bankruptcy fight
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Universal Music Group Acquires RMM Records' Assets, Subject to Bankruptcy Court Approval
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Advocat:

Advocat shares plummet 44% after threat of bankruptcy filing
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Advocat ordered to pay $78.425 mln in liability suit --Advocat would have to study options if jury verdict upheld
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Furrs Auction Approved Over Creditors' Objections

Going Out of Business Since 1903
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Fitch downgrades $1B in WestPoint debt
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Anna Nicole:

Hearing in former playmate's lawsuit delayed
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More Americans losing homes
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Lower contributions, higher demand, squeeze credit counselors
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Winston-Salem, N.C.-Area Networking Firm Files for Bankruptcy Protection
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  USG:

USG seeks bankruptcy refuge from asbestos suits
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USG Files for Bankruptcy Protection
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Gypsum plant to run despite filing
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USG filing means caution on asbestos-tainted bonds
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USG Corporation Files Voluntary Chapter 11 Case to Manage Rapidly Increasing Asbestos Litigation Costs and to Resolve Asbestos Liability
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Sonnenschein Adds Bankruptcy Lawyers in New York Office
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Court Rejects Challenge to Zenith Bankruptcy
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Powell, Goldstein, Frazer & Murphy's Bankruptcy Practice Group Goes Online With Electronic Filings
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Burke Industries:

Burke Industries files Chapter 11
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Burke Industries Inc. Files Voluntary Petition Under Chapter 11 of the Bankruptcy Code
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As dot-coms and telecoms crash, the fallout lands on Main Street
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Robert Brennan:

Judge Upholds Money-Laundering Verdict against New Jersey Former Financier
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New Jersey Businessman Agrees to Turn over Trust to Bankruptcy Court
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Bankrupt Eye Clinic's Patients Look For Options
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Telecoms:

Main Redstone investor backs rescue plan
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Basic beep, beep, beep going bye-bye
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Industry nervously watching 360networks: Payment deadline coming
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Wanted: Masochistic CEO To Run Bankrupt Provider
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Zephion Filing for Bankruptcy
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Bankruptcy can be an investor's best friend
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Proprietors of Kentucky Bookstore Chain Deal with Fallout from Bankruptcy
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Tower Records:

Tower Records Faces Tough Financial Future, Possible Bankruptcy
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Tower fights bankruptcy speculation
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United Methodist Youthville:

Kansas: Major Foster care provider files for bankruptcy

More bad news
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Is Youthville bankruptcy really no big deal?
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Court Approves Grove Worldwide Disclosure Statement; Solicitation to Begin
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Wolf Camera's acquisitions leave it overexposed
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Decatur, AL: Creditor critical of Blount plan for sublease with bonds
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Norfolk, VA: Hotel's bankruptcy doesn't stop bank from seeking foreclosure
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Birmingham, AL: Bedford link to bankrupt company raises ethics law questions
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Balloon pops for outdoor advertiser - Quest Advertising in San Bernardino closes as co-owner files for bankruptcy

Winston-Salem: Eastway Plaza owner files for Chapter 11
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New Bankruptcy Opinions
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Power Utilities:

Some $15 billion at stake in US power refund talks
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California Power Play: Generators on the Line
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FERC-Ordered Calif Pwr Talks Involve 100-Plus Lawyers
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Calif power refund talks begin at FERC
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Energy Wholesalers And Traders
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Bond Market Demands Steep Price To Lend To Edison Unit
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Power crisis boosts business for Bay area engineering firms
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Billions of dollars at stake as California power talks begin
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Power feud heats up over money

Proposed plants may not solve power troubles - More competition, lower prices not guaranteed
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Texas' Deregulation Problems to Hurt Less Than California's
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In the Dark, Trying to See Light at End of Crisis
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Los Alamos Energy Has Terminated Its Contract With Pacific Gas & Electric
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Weekly Update On Distressed Companies
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Sale looms as Thomaston files
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Court Confirms Reorganization Plan for Village Farms
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Home mortgage foreclosures up and expected to rise
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Zonic debtholders left wanting
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Falling Share Prices Hurt Bankruptcy Software Maker Epiq Systems' Stock Offering
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Bankrupt Detroit-Based Mexican Industries Owes Dues, UAW Says
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Industry, NRM face the music - Retailer plans to remake itself in Chapter 11

Nebraska, Iowa Experience Surge of Bankruptcy Filings
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Bankrupt Dyersburg Corp. Signs Letter of Intent for the Sale of United Knitting
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England:

UK economy ‘is facing slowdown’
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Barings Court Case Against Deloitte & Touche and Coopers & Lybrand Delayed
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Independent Insurance facing investigation
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West parishes on brink of bankruptcy as their vicars fear for pension funds
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Bust businessman enjoys the sun while creditors are battling to make up money
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Royal moves to help out victims - Insurance firm collapse one of worst ever
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France:

Aeris Considers AOM, Air Liberte
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Japan:

Japan govt panel backs life insurer yield cuts
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New Zealand:

More regulation won't help creditors
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Call for single, tougher law on insolvency
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Argentina:

Aerolineas Argentinas may suspend all flights
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Copyright 2001  [BKINFORMATION.COM]. All rights reserved.