December 19, 2000

Daily Bankruptcy News

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Lernout & Hauspie:

L&H Denies Getting Any Of "Missing" $100M From Korea Unit
(WSJ: paid subscription required)

Lernout executives blasted in auditor's letter

L&H gets searing audits


California Power Crisis:

Lawsuit Claims Execs Plotted To Drive Up Energy Prices

Ratepayers Shouldn't Bail Out Edison

PG&E and Edison feel pinch


Kaiser Group International Announces Effectiveness of Plan Of Reorganization and Formation of Kaiser Group Holdings, Inc.

Reliance Group:

Icahn affiliate to buy troubled Reliance Group bonds

Icahn bids to block Reliance recovery blueprint


Prime Succession, Inc. Emerges from Chapter 11

SystemOne Technologies Announces Bankruptcy Court Approval of Deal With Safety-Kleen

Sports Stars Sue All Star Cafe For Rejection Of Endorsement/Memorabilia Contracts

Burnham Pacific Stockholders Approve Plan of Liquidation


Senator Kerry Says Demise Of US Airways Better Than Merger

Aviation Services Firm American Aircarriers Support Shutting Doors

Airline Industry Seen Saving $1.6 Billion In Fuel


Aaron Rents, Inc. Acquires Leases on 27 Heilig-Meyers Locations; Expects Another Record Year

York Research Submits Global Settlement Agreement for Court Approval

Scientific Measurements Systems, Inc. Files Bankruptcy

Bradlees bane could be Wal-Mart's boon

  Quad Systems files for Chapter 11 bankruptcy


Wave of Employers Begin Paring Jobs

Slower US economy in 2001 could trip consumer debt     

Bad Weather Hits Retail Sales


Auto Industry:

Report: Chrysler To Lose $1.25B

Auto Industry Moving Into Slowdown Lane


ICG Communications says Nasdaq delisting company

Judge denies Baptist Foundation CFO raise - Deal broke rules, he says

Homes rarely taken by bankruptcy courts now


Park Place is seen as likely suitor for the Aladdin

Lender wants cash collateral secured at bankrupt LV casino


Dotcoms: Announces Initial Distribution of Liquidation Proceeds

Colorado's 'new economy' stumbles

Chipsmart customers obtain refunds

eToys shares plunge 70 pct on revenue outlook

eToys' Survival As An Independent Looks Slim Releases Update on Company Asset Sale and Possible Delisting From Nasdaq National Market


3dfx buried itself

Cruise ship owned by defunct Premiere Crusises goes down

Tucson, AZ: A South Side swap for debt payoff

Bruno's picks up 2 more Delchamps in 19-store deal with Jitney Jungle

DSL providers scramble for survival



New Bankruptcy Opinions
(No new opinions today)

Bankruptcy Reform:

Bankruptcy reforms split nation

Clinton Lobbied To Sign Bankruptcy Bill

Amtrak, TV Satellite, Bankruptcy Reform Bills Head to White House


Restructuring . . .

Gillette To Reduce Work Force Cuts Workforce Again

Cavion Cuts 80 Pct of Its Workforce, May File Bankruptcy\

Solutia To Cut Up To 800 Jobs

Red Herring Magazine Lays Off More Staff

Pentair to implement restructuring plan

Gillette to Lay Off 2,700, Sees Lower EPS

infoUSA says to cut 325 jobs, take Q4 charge

Eloquent to cut work force by 45 pct, take Q4 charge Announces Restructuring


Imperial Sugar continues to reel

Dow Corning Announces Stephanie Burns, Member Of Reorganization Management Team, As VP

Credit quality key in US asset-backed market in 2001

Capital Markets: We're on the edge of a precipice and the fact of the matter is that no one is safe

LXR Announces Payout of Final Liquidating Distribution

USDOT announces final rule shutting down carriers who don't pay fines

Revamped Iridium Sees Low Debt And Costs As Keys

Colorado Springs, Colo., Software Firm AdminiQuest Files for Bankruptcy

Chatsworth CA: Bankrupt Matthews Signs Deal to Sell Operations

Farmers' Co-Op- Cooperative to sell local headquarters - Bankruptcy also puts Ampride store on block


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