September 11, 2001  

Telecoms:

Ciber buys PSINet assets for $40M
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FCC says Rhythms cannot shut down until Sept. 24
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DirecTV Says Rhythms Shutdown Could Hurt 17,000 Web Customers
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PSINet Subsidiary Agrees to Sell Two Metamor Properties
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The Telecom Meltdown Gets Worse

Level 3 Communications to Buy Back Debt
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Those Wires Sure Are Cold

ExciteAtHome loses CFO

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Panel to vote on online bankruptcy data
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McCrory:

Riklis-controlled McCrory hits bottom
(DBN Subscription Required)

McCrory Corp., nine affiliates file for chapter 11 protection
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McCrory Corp., 9 Affiliates File For Chap 11 Protection
(WSJ: separate paid subscription required)

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Official Committee of Equity Security Holders appointed in Comdisco Chapter 11 Case Selects Professionals
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VoiceFlash Networks Unit Unable To Get DIP Financing
(WSJ: separate paid subscription required)

Restructuring . . .

Michelin to Cut 2,000 Jobs in North America, Blames Downturn in Tire Market
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Qwest to Cut 4,000 Jobs, Warns of Deteriorating Economic Conditions
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Steel:

Legacy costs of pensions, health care leave LTV in a bind
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For Republic, Superior retirees, LTV bankruptcy means losses
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Bleak Economic Statistics Erode Optimism for Fall
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Fed Officials See Delayed, Slower Economic Recovery
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Los Angeles: More debtors calling it quits
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Hilco and Great American Group Announce Going Out of Business Sales Commenced At Cosmetics Plus Group
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Crazy Shirts Files Bankruptcy, To Be Sold
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Dotcoms:

Former 3Com executive tapped to rescue Exodus
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Buckeye Egg Farm Ponders Options, Including Bankruptcy, After $19.7 Million Verdict
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American Tissue files for bankruptcy
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American Tissue Inc. and Its Domestic Subsidiaries File for Chapter 11 Protection
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American Tissue Files For Chapter 11 Protection
(WSJ: separate paid subscription required)

Financially troubled mill owner files for bankruptcy
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Wipeout At American Tissue
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Financially troubled mill owner, with mills in Gorham and Berlin, files for bankruptcy
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Bankruptcies may be set for new cycle
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Economy Casts Pall on Law School Campuses
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Family Wonder Holdings Files For Chapter 11 Protection
(WSJ: separate paid subscription required)

Cattle broker borrowed millions to pay investors
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Bankrupt Texas aircraft company courts buyers
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Consumer Borrowing Remains Weak in July
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Slatkin: Investment counselor's legal troubles pose PR problem for Scientology
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Asbestos:

Smoking Gun Lawsuits
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Owens Corning Seeks To Share Confidential Asbestos Info
(WSJ: separate paid subscription required)

The Claims Keep Rolling In
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Dispute erupts over auction of Vegas hotel-casino
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Judge delays auction of Schwinn/GT
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Going Out of Business Sales Commenced On Payless Cashways, Inc.
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Congress Scrambles to Respond to Downturn
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Borrowers Pay Price of Predatory Lending
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High Tech's Nose Dive Stings Utah
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Document Fees Get Lender in Trouble

Microworkz Judge Agrees To Stay Order (scroll down)
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U.S.A. Floral Receives Bankruptcy Court Approval to Complete Sale of International Division
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More investors faulting brokers for losses
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Payless:

Trustee to Oversee Dismantling of Payless Cashways
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Payless Cashways to liquidate, Memphis location closing

Denver: Hugh M. Woods stores going out of business as a result of Payless liquidation

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New Bankruptcy Opinions
(4 new opinions today)

Bankruptcy Jobs
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Bankruptcy Court Web/Pacer Site Directory

Texas Bankruptcies Up Compared to Last Year
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Work & Family: Savaged by the Slowdown

Power Utilities:

DWP Far Exceeded Profit It Reported - Audit finds utility's return was double 15% reported - Officials deny price gouging
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Bill to tax excess energy profits stalls in Assembly
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Edison Rescue Bill Nears California Senate Showdown
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Calif Senate Committee Seen Debating SoCal Ed Rescue Wed
(WSJ: separate paid subscription required)

Bailout Scheme for Edison Fails Tests Again ...
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Duke VP sees credit squeeze for power generators
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Lernout & Hauspie:

L&H faces liquidation if no buyers surface
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Lernout & Hauspie must have firm offer for rump co by end Sept
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Lernout & Hauspie says it may have a buyer

L&H files new restructuring plan with Belgian court
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Belgium's L&H to Cut Jobs for Survival
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Bears Insist the Bottom's Yet to Come
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Japan:

Asian Bankers Warn Reforms Have Stalled
(WSJ: separate paid subscription required)

The Man Who Would Rebuild Banks

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France:

Hunt for acquirer of Moulinex Brandt
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England:

London: Shares Agony For Millions
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Lady in Leisure calls in administrators
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Canada:

Uniforet takes downtime at Quebec sawmill, blames US
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Fairweather bids due Tuesday; friends hope for multiple offers, $20M price
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Korea:

Plan Seen Clinching GM Daewoo Takeover
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