March 30, 2001  

Daily Bankruptcy News

Brought to you by BKINFORMATION.COM - The Source for Business Bankruptcy Information on the Internet AND BKCLAIMS Marketplace - The Online Market For Bankruptcy Claims 

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

         
Power Utilities:

U.S. Steps Into Power Crisis - Energy Secretary Asks Calif. Suppliers to Keep Plants Going
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Energy crisis could put California billions in debt
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Republican legislators sue Gov. Davis - Lawmakers want data on power purchases by state
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SoCal Ed Write-Down Hangs Over Edison Preferred Shares
(WSJ: separate paid subscription required)

The $14 Billion Question - The fighting has started over who gets the bill for California’s bungled attempt to deregulate electricity. Alas, the energy fairy is not in sight

PUCO Directs Columbia Gas of Ohio to Operate the Bankrupt West Milgrove Gas Company Until a New Owner is Found or Customers Find Alternative Fuel Sources
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California Utility Must Say Where Blackouts Will Happen
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Calif. asks for another $500 mln to buy energy
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Calif Utils Paid State $104M For Power Buys Wed
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Crisis To Crisis In California
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Calpine Says Profit Will Top Forecasts
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Calif. utility rate hike leaves bond investors in dark
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Matlack Systems Chap 11 Petition Puts Assets At $105.3M
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Defense Attorney Questions FBI, Key Witnesses in Brennan Bankruptcy Fraud Trial
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Economy:

Economy Grows at 1% Rate - Slowest In 5 Years
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Poll: Lack of Economic Enthusiasm
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Stocks Slide Again on Earnings Worries
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Economy Slows Further, Some Easing Into Reverse
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Pierce bankruptcy trustee hunts for assets
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Analysts take dim view of Alliance Aircraft
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Ex-Gov Wilkinson: Wallace's transferred money before bankruptcy
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Lernout & Hauspie:

Judge Rejects Appointing Trustee in Lernout & Hauspie Bankruptcy Case
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Court OKs Visteon buy of L&H assets
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L&H scores double victory in U.S. court
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  Bankruptcy Reform:

Hypocrisy? Hatch: "Banks shouldn't be lending money unless they are willing to take a risk" - Campaign Reform Meets Bankruptcy Reform
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How Will This Work? Credit Counselors See More Bankruptcies, Already Booked Two Weeks In Advance
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Trico:

Trico workers can get pay by bankruptcy court filing
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Trico says couldn't comply with federal statute because money lacking
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MarchFirst:

Speak to Me, MarchFirst!
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The Ax Falls at MarchFirst, Reports Say
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Union seeks assurance on Pillowtex jobs
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Bankrupt Cleveland, Ohio-Based Steelmaker Gobbles Cash as Its Losses Increase
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Telecoms:

NorthPoint strands thousands of DSL users
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NorthPoint's Bankruptcy Burns Customers
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TelDaFax says does not believe reports World Access is facing bankruptcy
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Telocity Begins To Switch Customers To Other Carriers
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ISP Group to Ask PUC to Keep NorthPoint Going

Consumers Lash Out At ISPs For Imminent DSL Blackout
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Rubatex contract ratified by union - Must Be Approved By bankruptcy Court
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Funeral firms try shaking off debt hangover
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Seattle: Downtown Stars restaurant files for Chapter 7 bankruptcy
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Bridge:

Bridge seeking more bids for company
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Auction For Bridge Information Systems Begins
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Potential Bidders Continue Due Diligence On Bridge Info
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Hollywood Entertainment reports steep Q4 net loss, negotiating for debt delay
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Swallen's asks bankruptcy court to finish settling up
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New Bankruptcy Opinions
(No new opinions today)

Movie Theater Industry:

Regal savior looking more like a shark
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Regal Cinemas Spending $7.4 Million On New Theaters In 2001
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Even With Rate Hikes, California energy crisis may cost billions
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Creditors fault Sunbeam plan

Armstrong loses two more top executives
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Dotcoms:

80% of S.F. Dot-Coms Seen in Danger - Study says shakeout will empty offices

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Restructuring . . .

Delphi to Cut 11,500 Jobs in Restructuring, Slashes 1Q Outlook
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NS Group plans massive restructuring, cuts 380 jobs
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Dow Jones to Lay off Unspecified Number of Workers at WSJ.com
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Danone Announces 1,800 Job Cuts and Six Plant Closures
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Listing of Companies and Job Cuts
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New Line Cinema Reorganizes
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Destination Film's $100M Bond Deal Faces April Shortfall
(WSJ: separate paid subscription required)

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Debt Restructurings Give Bondholders Short End Of Stick
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Consumers Should Ask Questions When Seeking Credit Counseling Advises CCCS
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Six Charged with Money Laundering in Connection With Large-Scale Off Shore Illegal Trust Program Based in Costa Rica, Reports U.S. Attorney
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ATM Fees on the Rise for Non-Customers
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China:

China to Speed up Financial Rule Changes for WTO Entry
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Korea:

Hyundai swamped by creditors
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Mexico:

Mexico's bank bailout leaves scarcity of loans

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Copyright 2001  [BKINFORMATION.COM]. All rights reserved.