September 13, 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

         
Airlines:

Midway Airlines closes down amid attacks
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Losses mount for Asia airlines as U.S. flights cancelled
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Ansett Airlines placed under administration
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Lawsuits expected over terrorist hijackings
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Attack Hits Airlines at Difficult Time
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Terror attacks finish bankrupt N.C. airline - Midway calls it quits, saying it expects sharp drop in U.S. air traffic
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Big losses for airlines expected
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Heavier cash drain follows U.S. attacks: Traffic decline, tighter security add to burden
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Travel sector already hurt by attacks
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Ripples from attacks show up in economy - Some businesses benefit, but for many, activity slows greatly

Genesis Health:

Genesis Health to emerge from bankruptcy
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Stockholders get nothing in plan OK'd for Genesis Health
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Illegal logging driving legal loggers to bankruptcy
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Castroville, Calif.-Based Artichoke Product Company Forced into Bankruptcy
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With deals halved and regulators rampant, banks are looking hard at other ways of earning fees
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A final shove into recession, analysts fear
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What happens when the markets reopen?

Economic forecast worsens
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World's banks prop up markets in move to avert global recession
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  Filings May Rise With Job Losses, Business Failures
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Waiting for the Dust to Settle
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Telecoms:

NextWave Bankruptcy Hearing Postponed, No New Date
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After FCC Order, Rhythms Says It Will Continue Network Operations
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Markets Reopen in Stages after Attacks
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Dotcoms:

Bid.Com changes name, business
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Slowdown in dotcom demise shuts down failure tracker website
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Steel seeks new credit deal - Bethlehem company wants to use some of its subsidiaries as collateral
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Bridge has accounted for all but 20 of its workers
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Schwinn:

Pacific Cycle snags Schwinn unit for $86M
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Schwinn bankruptcy auction leaves Pacific Cycles in control
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Bankruptcy, more layoffs in Linux world
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Disaster likely costliest in U.S. history
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Companies struggle to continue business as usual
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Paper mill's parent company reassures creditors
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George Young:

Missouri Cattleman Blames Market, Feeding Costs for Financial Collapse
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Judge Grants Request to Sell Missouri Cattleman's Disputed Animals
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New Bankruptcy Opinions
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Bankruptcy Jobs
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Bankruptcy Court Web/Pacer Site Directory

Power Utilities:

Deadline looms for SoCalEd rescue
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State regulators delay decision on power rate agreement
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Calif Lawmakers Back At Work, Seen Moving On Edison Bill
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Los Angeles Mayor Draws Criticism for City's Power Profits
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Washington Group's N.Y. office destroyed - Boise officials hope 40 missing staff members are alive
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Pillowtex granted extension for filing reorganization plan

DMI: $17M in debt
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Judge appoints trustee to oversee Newport Creamery bankruptcy
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Bonds that bind fixers of distress debt: With record loans in danger of defaulting, restructuring skills are in high demand
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England:

Low reserves 'sparked II probe'
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Ernst & Young bows to pressure and quits as Barings liquidator
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France:

Moulinex-Brandt: half a dozen potential buyers have been identified by group administrators
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French government "will not let down Moulinex-Brandt plants"
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Hong Kong:

HK Bks, Govt To Work Together To Reduce Bankruptcies
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