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
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PG&E unit to pay nearly 11 pct on $500 mln bonds
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PG&E shareholders urge CEO to quit over bankruptcy
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FERC Issues Power Ruling
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State faces $4 billion shortfall next year, analyst says
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FERC won't let small generators out of state contracts -- yet
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Calif. Businesses Swallow Rate Hikes Amid Slowing Economy
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Scorned in California, Atlanta-Based Energy Company Spinoff Prospers
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Davis Turns Up the Heat on Supplier
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Shareholders Lay Blame on PG&E Managers, Davis
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PG&E debt estimated at $14.4 billion

Judge names panel in PG&E case
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PG&E's CEO faces off with angry shareholders at company's annual meeting
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California Judge Orders Utility To Pay Overdue Property Taxes
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Bush's Plan Redraws Lines of Power Politics
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Calif. governor signs state power authority bill
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CSFB cuts PG&E to hold
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Calif. electricity imports threatened
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Court Approves PG&E's Motions to Fund Energy Efficiency Programs and Pay Pre-Petition Portion of Property Taxes
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Energy Efficiency Funding Protected in PG&E Bankruptcy Case
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Bush calls on FTC to investigate price gouging complaints
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California lawmakers seek Pacific Northwest energy cartel
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Energy bills crimp California lifestyle
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The Official Committee of Unsecured Creditors in the Establishes Clearinghouse for News And Information Related to the Creditors and the Bankruptcy
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Bill to save Calif. utility to be introduced Thurs
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Californians to face hefty increases in electricity charges
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More than California's problem
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PG&E CEO defends record - Top executive blames others for bankruptcy
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Washington Group Plans Comeback Deal
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Daniel J. Bussel Joins Klee, Tuchin, Bogdanoff & Stern LLP as Partner
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Zany Brainy will refocus on 'core' toys
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Neo-Nazi headquarters may be razed
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Asbestos:

Shareholders of Southfield, Mich., Spark Plug, Bearings Maker Air Grievances
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Fed-Mogul red ink persists
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  Stellex creditors left hanging
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CPAs Vulnerable When Large Companies Fail
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A turnaround recipe for a bankrupt eatery
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How To Save NOLs - Bruno's reborn
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Jones Day appoints restructuring partner
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Report Says Lexington, Ky.-Based Bookstores Are Worth At Least $12 million
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Wells Fargo Retail Finance to Provide $115 Million in Dip Financing to Zany Brainy, Inc.
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Steel:

JP Morgan seeks end to support to steel sector
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Senators push Bush nominees for steel industry aid
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Warren, Ohio, Rally Bolsters Ailing Steel Industry
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Steel producer's profits sink
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Tandycrafts:

Tandycrafts files for bankruptcy
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Tandycrafts to remain in frame business
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Sunbeam:

Job-Cutter "Chainsaw Al" Feels Fraud Rap Blade
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Dunlap denies SEC charges 

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Telecoms:

Metrocall, Weblink preparing for bankruptcy, still talking merger
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Cash-rich C&W eyes broke PSINet
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C&W Eyes PSINet, But No Hurry to Spend Cash
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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
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PSINet May File for Bankruptcy, Exploring Sale, Debt Plan
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OXIS International Reports Increased Losses, Warns of Possible Bankruptcy
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What can you do with a discarded movie theatre?
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US Consumer Loan Quality Worsened In 1st Q
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Moody's William Black Speaks Out
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Track 'n Trail Revises Previously Announced Fiscal Year 2000 Results
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Cone Mills latest textile industry casualty
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Where Has Corporate Integrity Gone?
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TWA:

Airport wants unpaid fees from TWA
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Moody's sees 10 pct junk bond default rate by 2002
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AccessAir's few assets to be liquidated
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American Appliance: We Proudly Hail
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Trustee aims to sell National Finance Corp. assets

 

New Bankruptcy Opinions
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Pillowtex closes 2 facilities, cuts 780 jobs
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Loewen shareholders cry fraud
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Wilkes-Barre, Pa., Iron Works Folds after Filing Bankruptcy Petition
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Dotcoms:

Maryland AG Curran joins Texas and Delaware in fight to prevent eToys from selling customer data
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CyberRebate files Ch. 11, shuts site
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Syracuse, NY: Lender tries to foreclose on landmark hotel
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Aladdin Casino:

Big loss pushes Aladdin Casino closer to the edge
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Gamblers' Luck Is No Lady to Cash-Strapped Aladdin
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Scrap consolidator Metal Management sees hope in June
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Federal Insurer Bails Out Pension Plan for Bankrupt Retail Chain Bradlees
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Bankruptcy filings rise in Austin
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Goldsmith Agio Helms Announces the Completion of the Sale of Tri Valley Growers
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Restructuring . . .

Comerica Set to Cut 350 Jobs
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Russia:

Ex-Giant Promstroi Declared Bankrupt
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Unions believe Russia's main airline bankrupt
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Russian Duma passes laws on reform of banking system
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England:

DWF targets bankruptcy work with new partner appointment
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Staff in financial straits over options
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Valuing collateral is a banker's nightmare
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Canada:

Maksteel Inc. granted CCAA protection to reorganize operations and strengthen its balance sheet
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Queensway Financial seeks interim receiver
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Korea:

Hyundai Merchant faces debt restructuring after sharp rise in debt
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Japan:

Bad timing for painful reform
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Corporate bankruptcies soared in April
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Japan economy in 'worse state than thought'
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Daily Bankruptcy News is published each business day by BKINFORMATION.COM, L.L.C.  You can reach us at 281-242-6208 or at admin@bkinformation.com 

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