May 17, 2001 Daily Bankruptcy News

May 17, 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: California blackouts presage bankruptcies (DBN Subscription Required) PG&E unit to pay nearly 11 pct on $500 mln bonds (DBN Subscription Required) PG&E shareholders urge CEO to quit over bankruptcy (DBN Subscription Required) FERC Issues Power Ruling (DBN Subscription Required) State faces $4 billion shortfall next year, analyst says (DBN Subscription Required) FERC won't let small generators out of state contracts -- yet (DBN Subscription Required) Calif. Businesses Swallow Rate Hikes Amid Slowing Economy (DBN Subscription Required) Scorned in California, Atlanta-Based Energy Company Spinoff Prospers (DBN Subscription Required) Davis Turns Up the Heat on Supplier (DBN Subscription Required) Shareholders Lay Blame on PG&E Managers, Davis (DBN Subscription Required) PG&E debt estimated at $14.4 billion Judge names panel in PG&E case (DBN Subscription Required) PG&E's CEO faces off with angry shareholders at company's annual meeting (DBN Subscription Required) California Judge Orders Utility To Pay Overdue Property Taxes (DBN Subscription Required) Bush's Plan Redraws Lines of Power Politics (DBN Subscription Required) Calif. governor signs state power authority bill (DBN Subscription Required) CSFB cuts PG&E to hold (DBN Subscription Required) Calif. electricity imports threatened (DBN Subscription Required) Court Approves PG&E's Motions to Fund Energy Efficiency Programs and Pay Pre-Petition Portion of Property Taxes (DBN Subscription Required) Energy Efficiency Funding Protected in PG&E Bankruptcy Case (DBN Subscription Required) Bush calls on FTC to investigate price gouging complaints (DBN Subscription Required) California lawmakers seek Pacific Northwest energy cartel (DBN Subscription Required) Energy bills crimp California lifestyle (DBN Subscription Required) The Official Committee of Unsecured Creditors in the Establishes Clearinghouse for News And Information Related to the Creditors and the Bankruptcy (DBN Subscription Required) Bill to save Calif. utility to be introduced Thurs (DBN Subscription Required) Californians to face hefty increases in electricity charges (DBN Subscription Required) More than California's problem (DBN Subscription Required) PG&E CEO defends record - Top executive blames others for bankruptcy (DBN Subscription Required) _______________ Washington Group Plans Comeback Deal (DBN Subscription Required) Daniel J. Bussel Joins Klee, Tuchin, Bogdanoff & Stern LLP as Partner (DBN Subscription Required) Zany Brainy will refocus on 'core' toys (DBN Subscription Required) Neo-Nazi headquarters may be razed (DBN Subscription Required) Asbestos: Shareholders of Southfield, Mich., Spark Plug, Bearings Maker Air Grievances (DBN Subscription Required) Fed-Mogul red ink persists (DBN Subscription Required) _________________	Stellex creditors left hanging (DBN Subscription Required) CPAs Vulnerable When Large Companies Fail (DBN Subscription Required) A turnaround recipe for a bankrupt eatery (DBN Subscription Required) How To Save NOLs - Bruno's reborn (DBN Subscription Required) Jones Day appoints restructuring partner (DBN Subscription Required) Report Says Lexington, Ky.-Based Bookstores Are Worth At Least $12 million (DBN Subscription Required) Wells Fargo Retail Finance to Provide $115 Million in Dip Financing to Zany Brainy, Inc. (DBN Subscription Required) Steel: JP Morgan seeks end to support to steel sector (DBN Subscription Required) Senators push Bush nominees for steel industry aid (DBN Subscription Required) Warren, Ohio, Rally Bolsters Ailing Steel Industry (DBN Subscription Required) Steel producer's profits sink (DBN Subscription Required) _________________ Tandycrafts: Tandycrafts files for bankruptcy (DBN Subscription Required) Tandycrafts to remain in frame business (DBN Subscription Required) _________________ Sunbeam: Job-Cutter "Chainsaw Al" Feels Fraud Rap Blade (DBN Subscription Required) Dunlap denies SEC charges __________________ Telecoms: Metrocall, Weblink preparing for bankruptcy, still talking merger (DBN Subscription Required) Cash-rich C&W eyes broke PSINet (DBN Subscription Required) C&W Eyes PSINet, But No Hurry to Spend Cash (DBN Subscription Required) PSINet Submits Notification That It Will Not File Its Form 10-Q; Announces that Board of Directors did not Declare Dividend on its Series D Preferred Stock (DBN Subscription Required) PSINet May File for Bankruptcy, Exploring Sale, Debt Plan (DBN Subscription Required) _______________ OXIS International Reports Increased Losses, Warns of Possible Bankruptcy (DBN Subscription Required) What can you do with a discarded movie theatre? (DBN Subscription Required) US Consumer Loan Quality Worsened In 1st Q (DBN Subscription Required) Moody's William Black Speaks Out (DBN Subscription Required) Track 'n Trail Revises Previously Announced Fiscal Year 2000 Results (DBN Subscription Required) Cone Mills latest textile industry casualty (DBN Subscription Required) Where Has Corporate Integrity Gone? (DBN Subscription Required) TWA: Airport wants unpaid fees from TWA (DBN Subscription Required) ________________ Moody's sees 10 pct junk bond default rate by 2002 (DBN Subscription Required) AccessAir's few assets to be liquidated (DBN Subscription Required) American Appliance: We Proudly Hail (DBN Subscription Required) Trustee aims to sell National Finance Corp. assets	New Bankruptcy Opinions (No new opinions today) Pillowtex closes 2 facilities, cuts 780 jobs (DBN Subscription Required) Loewen shareholders cry fraud (DBN Subscription Required) Wilkes-Barre, Pa., Iron Works Folds after Filing Bankruptcy Petition (DBN Subscription Required) Dotcoms: Maryland AG Curran joins Texas and Delaware in fight to prevent eToys from selling customer data (DBN Subscription Required) CyberRebate files Ch. 11, shuts site (DBN Subscription Required) ______________ Syracuse, NY: Lender tries to foreclose on landmark hotel (DBN Subscription Required) Aladdin Casino: Big loss pushes Aladdin Casino closer to the edge (DBN Subscription Required) Gamblers' Luck Is No Lady to Cash-Strapped Aladdin (DBN Subscription Required) _________________ Scrap consolidator Metal Management sees hope in June (DBN Subscription Required) Federal Insurer Bails Out Pension Plan for Bankrupt Retail Chain Bradlees (DBN Subscription Required) Bankruptcy filings rise in Austin (DBN Subscription Required) Goldsmith Agio Helms Announces the Completion of the Sale of Tri Valley Growers (DBN Subscription Required) Restructuring . . . Comerica Set to Cut 350 Jobs (DBN Subscription Required) __________________ Russia: Ex-Giant Promstroi Declared Bankrupt (DBN Subscription Required) Unions believe Russia's main airline bankrupt (DBN Subscription Required) Russian Duma passes laws on reform of banking system (DBN Subscription Required) _______________ England: DWF targets bankruptcy work with new partner appointment (DBN Subscription Required) Staff in financial straits over options (DBN Subscription Required) Valuing collateral is a banker's nightmare (DBN Subscription Required) _______________ Canada: Maksteel Inc. granted CCAA protection to reorganize operations and strengthen its balance sheet (DBN Subscription Required) Queensway Financial seeks interim receiver (DBN Subscription Required) ________________ Korea: Hyundai Merchant faces debt restructuring after sharp rise in debt (DBN Subscription Required) _______________ Japan: Bad timing for painful reform (DBN Subscription Required) Corporate bankruptcies soared in April (DBN Subscription Required) Japan economy in 'worse state than thought' (DBN Subscription Required) ______________ Weather Forecast: Enter City, State, or Zipcode: