November 16, 2000

Daily Bankruptcy News

Brought to you by BKINFORMATION.COM - The Source for Business Bankruptcy Information on the Internet AND BKCLAIMS Marketplace - The Online Market For Bankruptcy Claims 

Also available on the Web (with links to the news stories)  at:  http://bkinformation.com/DailyNewsFrames.htm

         
Owens Corning:

Owens Corning Names Maura Abeln Smith Chief Restructuring Officer

Owens Corning Puts Legal Chief in Charge of Restructuring

Owens Corning Asks Court To Approve Unit Merger With Servicelane

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Reliance:

Reliance doesn't have enough cash to meet obligations

Reliance's Bondholders Seen Patient As Debt Goes Unpaid
(WSJ: paid subscription required)

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Economy:

Inventories Up, Sales Grow Modestly in September

Fund managers' optimism near 1980s low

Analysts Expect Fed to Back off Rate Hikes in Coming Months

Fed Leaves Interest Rates Unchanged Amid Signs Economy Is Losing Steam
(WSJ: paid subscription required)

Fed Leaves Rates Alone, Expresses Inflation Worries

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Dotcoms:

Caredata.com Files Chapter 7

Zero Hour for Scour - Bankruptcy Court Issues Shutdown Order and Asset Sale Rules

1stUp.com's Future Is up in the Air

A second chance for the dot-com economy? Bankruptcy is now the smartest way to build your brand

Profiting From Dying Dot-Coms Is Hard
(WSJ: paid subscription required)

Dotbomb Rubbernecking - All Bad News, All The Time

Scour To Voluntarily Shut Down File-Sharing Exchange; Additional Company Announces Intent to Bid for Scour Assets

Garden.com Announces Phased Shut-Down of the Company's Retail Operations And Sale of Its Assets

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ICG:

ICG raises white flag to creditors

Cisco, Others on the Line for Billions With Risky Vendor Financing - ICG Could Cost Cisco $180 Million

One-time Telecommunications Highflier Files For Bankruptcy

ICG 8-K

Lawsuit Against ICG Communications Seeks Damages For Shareholders, Berman DeValerio & Pease Says

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  SEC, Accounting Firms Reach Compromise on Auditor Independence

The Dangers Of Taking Equity In Clients - Bankruptcy Judge Lambastes Scour's Bankruptcy Firm for Owning Shares in Bidder For Debtor's Assets

Weil, Gotshal Joins Bonus Fray

Bankruptcy Judge Approves Sale of Iridium Assets

AMF:

AMF Bowling, Considering Bankruptcy, Is Subpoenaed By The SEC

Bowling company may reset - Bankruptcy possible for AMF as it prepares to reduce gigantic debt

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American Eco provides update of its Chapter 11 And CCAA proceedings

Bad Bank Loans:

First Union Plunges on Rumor Sunbeam Loan Went Bad

Dark cloud hangs over Sunbeam earnings, outlook

Bank Of America Down 7% On News Of Rise In Bad Loans
(WSJ: paid subscription required)

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Bankruptcy Reform:

Action on Bankruptcy Overhaul a 'Matter of Timing'

The bankruptcy bill is insolvent once again

US Election Has New Commodities Laws In Legislative Limbo
(WSJ: paid subscription required)

Clinton to Sign Spending Bill For Gov't Funding Through Dec. 5th, Prods Congress

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Movie Theater Industry:

Carmike Cinemas, Inc. Announces Results for the Third Quarter 2000

Theater chain Regal exhibits woes

Theater Chain Announces Third Quarter Losses

Regal Cinemas says it is considering bankruptcy

Cinemas Are Pulling In Customers With State-of-the-Art Seats, Sights and Sound

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NextWave:

Confusion reigns as wireless auction approaches

The Opinions:

GWI (5th Cir.) and NextWave (2d Cir.)

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Pillowtex:

Fieldcrest Cannon owner seeks 'breathing room'

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Nevada Bob's chairman quits

 

 

 

New Bankruptcy Opinions
(3 new opinions today)

Japan:

Bankruptcies in Japan Rose 22.7 Percent, Debt Reaches Postwar High

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Canada:

Beamscope Makes Application And Obtains Stay Under The Companies' Creditors Arrangement Act

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Korea:

Daewoo allowed to defer payment of domestic debt

Daewoo Motor shuts Kunsan plant as parts woes grow

Hyundai plans selling spree to save construction arm

Hyundai ends family row

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Russia:

Moldovan premier threatens debtor businesses with bankruptcy

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Argentina:

Investor Confidence Key To Forestall Argentine Downgrade

Argentina's Oct Bankruptcies -7.2% On Mo, -7.1% On Yr
(WSJ: paid subscription required)

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Drypers Won't File 3Q Report On Time; Cites Bankruptcy
(WSJ: paid subscription required)

Reschke's Shaky Mall Reit May Get An Infusion

Intellisys Group- Asset Purchase Approved By Bankruptcy Court

Waxman Industries, Inc. Announces Court Confirmation of its Comprehensive Restructuring Plan -- Reorganization Plan to be Effective on November 16, 2000

Harrah's:

JCC Holding Says Considering Filing For Bankruptcy

Investors upbeat on Harrah's New Orleans casino plan

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Sale of bankrupt baseball team stalled

Heilig-Meyers: Retailer's Insolvency Debated Shareholders Delaying Progress, Creditors Say

Richmond, VA: Corruption Figures Set To Be Sentenced Four Men Contributed To Hospital's Bankruptcy

Family Golf Center Founder Agrees To Resign Reorg Too Slow

Kaiser Group Files Non-Timely, Awaits Thursday Plan Hearing

 

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