November 16, 2000 Daily Bankruptcy News

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 ______________ Reliance: Reliance doesn't have enough cash to meet obligations Reliance's Bondholders Seen Patient As Debt Goes Unpaid (WSJ: paid subscription required) ____________ 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 _____________ 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 ____________ 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 __________	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 ____________ 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) ____________ 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 ___________ 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 ____________ NextWave: Confusion reigns as wireless auction approaches The Opinions: GWI (5th Cir.) and NextWave (2d Cir.) ____________ Pillowtex: Fieldcrest Cannon owner seeks 'breathing room' _____________ Nevada Bob's chairman quits	New Bankruptcy Opinions (3 new opinions today) Japan: Bankruptcies in Japan Rose 22.7 Percent, Debt Reaches Postwar High ______________ Canada: Beamscope Makes Application And Obtains Stay Under The Companies' Creditors Arrangement Act ____________ 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 _______________ Russia: Moldovan premier threatens debtor businesses with bankruptcy ______________ Argentina: Investor Confidence Key To Forestall Argentine Downgrade Argentina's Oct Bankruptcies -7.2% On Mo, -7.1% On Yr (WSJ: paid subscription required) ________________ 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 _____________ 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 Weather Forecast: Enter City, State, or Zipcode: