June 8, 2001 Daily Bankruptcy News

June 8, 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

Power Utilities: PG&E Defends Request for Bonuses (DBN Subscription Required) California Utility Vows to Repay All Creditors with Interest (DBN Subscription Required) PG&E Utility Still in the Red (DBN Subscription Required) California Gets a Reprieve as Power Prices Fall (NYT: separate free registration required) Calif Digging Out of Power Debacle (DBN Subscription Required) Creditors hear PG&E's bonus defense - Executives say retention is critical to smoothing bankruptcy process Calif regulators delay vote on back power payments (DBN Subscription Required) Hastert Against Energy Price Caps (DBN Subscription Required) PG&E's Utility Meets Creditors Over Bankruptcy Reorganization (DBN Subscription Required) Creditors to meet on PG&E No free fall seen for N.Y. utility credit Reserves, contracts should prevent California-type crisis (DBN Subscription Required) Legislators considered acquisition of PG&E Voltage-reduction project may stave off blackouts (DBN Subscription Required) ______________ Telecoms: PSINet sells Latin American operations (DBN Subscription Required) NEON Communications Describes Fiber Optek News Bankruptcy-Related as Materially Misleading (DBN Subscription Required) PSINet: Deal to resolve ISP outage (DBN Subscription Required) Teligent Announces Delisting From the Nasdaq National Market (DBN Subscription Required) PSINet reportedly closing Oklahoma City office (DBN Subscription Required) ______________ Hilco Capital LP Announces $15 Million DIP Credit Accommodation To Zany Brainy, Inc. (DBN Subscription Required)	Finova creditors set to OK new GE bid (DBN Subscription Required) Steel: The high cost of protecting steel (DBN Subscription Required) Bush treads fine line on protecting US steel industry (DBN Subscription Required) Slowdown fuels US steel aid (DBN Subscription Required) _______________ Bankruptcy Providing Little Relief to Cash-Strapped Companies, Experts Say (DBN Subscription Required) Bankruptcy Reform: A Kinder, Gentler Bankruptcy Bill? (DBN Subscription Required) Hastert Cautions Bush on House GOP, Predicts Bankruptcy Reform Will Be One Of First Tests (DBN Subscription Required) ______________ Bankrupt MicroAge Prepares for Auction (DBN Subscription Required) Economy: Expert sees little recovery well into 2002 (DBN Subscription Required) Jobless Claims Hit a Nine-Year High (DBN Subscription Required) Use of Credit Rose Sharply During April (DBN Subscription Required) ________________ More innings coming in baseball team bankruptcy case (DBN Subscription Required) Braintree, MA: Olympus Seeks Protection (DBN Subscription Required) Accounting firms mine growing niche in forensics Restructuring . . . Reuters to Lay Off 500 Employees (DBN Subscription Required) Disney to Cut 1,000 Jobs (DBN Subscription Required) _______________	New Bankruptcy Opinions (3 new opinions today) Washington Group defends bankruptcy venue - Shareholders question choice of Nevada court (DBN Subscription Required) Dotcoms: The Dot-Com Kevorkians Dotcom crisis spreads as sport casualties mount up (DBN Subscription Required) Many CyberRebate.com devotees left in the lurch (DBN Subscription Required) Dot-com die-off quickens - Last year's casualty total already passed ______________ Aerovox: Aerovox Announces Bankruptcy Filing (DBN Subscription Required) Providence R.I.-Area Electronic Parts Maker Files for Bankruptcy Protection (DBN Subscription Required) ______________ ASD Announces Bankruptcy Reorganization Efforts (DBN Subscription Required) L&H gets green light from creditors to chop itself up HILCO Outbids a Consortium of Competitors to Manage Sale of Assets of McWhorter's (DBN Subscription Required) US regulators seek information from Reuters on Bridge Borough extends 18-day reprieve on bankrupt Gateway Forest loan (DBN Subscription Required) Germany: Crisis talks in bankrupt Berlin (DBN Subscription Required) _____________ Japan: Japan's Economy Worsens (DBN Subscription Required) ____________ Weather Forecast: Enter City, State, or Zipcode: