May 24, 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

         
Telecoms:

Arch asks to revamp its debt
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WebLink Wireless Gives Merger A Dial Tone
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No special favors for telco monopolies
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Bankrupt Convergent Communications Pares Staff, Sells Assets
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Hope for Teligent Investors 

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Hicks Muse back on solid food
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Troubled Lernout may offer creditors shares in new firm
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Bankruptcy Judge Approves Sale of Former Kentucky Governor's Bookstores
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Bankrupt tool maker to explore sale
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Consumer, Business Bankruptcies Rise Sharply in Kansas
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Sia hid costly wine from creditors, faces bankruptcy fraud charges
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Europe's distressed debt market awakens, but lack of creditor protection slows growth
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Stage Stores Announces Filing of Second Amended Plan of Reorganization and Disclosure Statement in Support of Second Amended Plan of Reorganization
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Anonymous Company Seeks to Purchase Defunct Software from Richmond, Va., Firm
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Bankruptcy filings jump 17.5% in 1st
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Fruit of the Loom, Warnaco settle lawsuit
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ISMM collapse could cost dlrs 56 million
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Economic downturn keeps turnaround expert busy
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Bankruptcies by Individuals Rise Sharply So Far in 2001
(NYT: separate free registration required)

Charleston: Multi-CAP to file for bankruptcy
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Alabama: Pride Restaurants in pinch Black Burger King firm vows Chapter 11 revival
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  Judge delays decision on sale of Tultex mill
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V3 Semiconductor files for Chapter 11
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Diamond Brands:

Diamond Brands Chapter 11 petition lists $238.7M in debts
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Diamond Brands Files to Restructure Under Chapter 11; Company has Commitment for $8.2 Million in Post-Petition Financing
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Power Utilities:

Nevada Utility Company Warns of Long Energy Crisis
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Legislators search for a Plan B for Edison
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Decora Continues Negotiations with Buyer
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Dotcoms:

Little restructuring hope for dot-bombs
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Privacy fears over eTour deal  

eMarketWorld Receives Bridge Financing from The Palladin Group, LLC
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Blueprint For Bankruptcy: Part 4 of FourWhat does the future hold for collegiate athletics?
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Creditors try to block Onex bid for Loews: Fear 'undervaluation': Unsecured group wants to file its own reorganization plan
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Casual Male:

Casual Male gets $135 mln DIP financing
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Casual Male Announces Orders Approving Dip Financing and Securities and Claims Trading Restrictions
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Regent Casino:

Executives for Bankrupt Regent Resort Choose Las Vegas Developer's Bid
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Regent picks Peccole as preferred buyer
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Bankrupt Las Vegas Casino Likely to Fetch $75 to $100 Million, Source Says
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New Bankruptcy Opinions
(No new opinion today)

Gulf States bankruptcy auction draws international bidders
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White House Aid For Steel Could Be Two Months Away
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Bankrupt retailer shells out top dollar for exec
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England:

Pension plan change raises fear of bankruptcies
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Canada:

Consumers Packaging granted court protection
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Troubled-company specialist Hap Stephen takes charge at Algoma Steel
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Canadian banks report strong profits but impaired loans still a concern
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Australia:

Telemedia faces the crunch, emergency talks with bankers  

GlobalMedia files for bankruptcy
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Japan:

Koizumi must deliver before hoopla fades
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Police descend on home of ex-Sogo chairman
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________________

Germany:

Metabox Collapses Under Financial Scandal
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Mexico:

Savia Needs 2 Billion Dollars To Escape Bankruptcy
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