October 16, 2000 Daily Bankruptcy News

October 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 - Asbestos Co. Seeks Tax Breaks; Offset Suits Tax Bill Offers Breaks For Asbestos Defendants Former asbestos producers seek tax breaks to offset health claims __________ Movie Theater Industry: Waiting To Exhale Rancho Mirage: Theater chain files bankruptcy Resort Theaters plans to regroup, reorganize Imax pulls curtain on sale as stock price plunges Voting With Her Pocketbook: No More Theaters Janaf Cinemas will close as parent company reorganizes Dickinson theaters file for bankruptcy ___________ Drypers: Drypers seeks a helping hand to defeat debt Litigation, soft overseas markets drive Drypers to file Chapter 11 _____________ Objections raised in Geneva Steel bankruptcy Xerox: Xerox stock tumbles on bankruptcy fears Xerox Dismisses Bankruptcy Talk Xerox trys to reassure investors with 'adequate liquidity' statement Xerox takes the axe to jobs Xerox Taps $7 Billion Line of Bank Credit As Debt Rating Downgrades Limit Options (WSJ: paid subscription required) ___________ Seattle- Lending cooperative for fruit farmers closing Tri-Valley: Troubled Tri Valley tries to keep nervous employees TVG woos employees with bonuses __________ Bank of Honolulu: Bank of Honolulu seized as purchase approved S.F. bank purchases Bank of Honolulu assets - Some creditors and large depositors may lose ____________ Tricon Global Restaurants Reports an 11 Percent Increase in Ongoing Operating Earnings Per Share to $0.77 for the Third Quarter	Bankruptcy Reform: Bankruptcy reform bill moves, but unlikely to make it to the finish line Bankruptcy bill advances Controversial measure goes to Senate next week Promised Veto Appears to Doom Congressional Agreement ____________ Credit Card Debt: Consumer Debt Is Our Economy's Achilles' Heel And It's Not Just The U.S. . . ____________ Corporate Bonds in Bad Shape The Coming Depression Casinos: Claridge rejects Icahn's bid, seeks more time from bankruptcy judge Casinos bet on each other ______________ Dotcoms: Collection Of Stories From Various Sources Related To Scour.com Bankruptcy Dot-Gone- More Flops on the Net Internet companies are falling fast Scour says it faces up to $250 billion in liability Expanding the pipes- The effect of limited broadband Internet access is suffocating some companies E-tailers switch to B2B to keep investor interest Dot-sharks, dot-minnows Urbanfetch closes shop in UK, US WebMD Co-CEO Quits, Stock Falls Garage.com issues entrepreneurs their marching orders ____________ Picus Communications remains 'optimistic' amid bankruptcy rumors Strouds, Inc. Receives Final Court Approval of $50 Million DIP Financing; DIP Will Fund Operations During Restructuring Atlas Telecom: Portland: Bankruptcy Judge Orders Zapp To Repay $3.3 Million For Failing To Account For Personal Use Of Bankrupt Atlas Telecom's Funds Justice at last for Ray Zapp ______________ Video Update, Inc. Retains Keen Realty In Chapter 11 Court Proceedings	New Bankruptcy Opinions (2 new opinions today) England: Forecast on visitors doomed the dome ___________ Japan: Japan H1 bankruptcy debt hits record $101 bln Gov't to give debtors a break Beauty salon chain operator RBM goes bankrupt Insurance safety net body may takeover Daiichi Inter-Lease could face bankruptcy with $7.42bn debt ____________ Canada: Truckers, being forced into bankruptcy, vote to park their rigs in push for fuel deal ______________ Scotland: Cash crisis on Scottish Opera stage _______________ Argentina: Spain to pump $600 mln into Argentine airline Spain, Argentina Reach Pact To Halt Airline Bankruptcy (WSJ: paid subscription required). ____________ India: Bangladesh FM calls for social boycott of bank defaulters _____________ Laidlaw extends debt restructuring deadline - again Saugus Lawyer Pleads Guilty to Bankruptcy Fraud, Reports U.S. Attorney NationsWay Transport: Green light for truck firm's creditors Focus Media: NBC, ABC, Pax File Involuntary Bankruptcy Against Focus Media Nets Drag Focus Into Bankruptcy Court ____________ Metrocall Stokes Existing Market While Acquisition Flame Cools Minneapolis: Bankruptcy Threatened as Vallon Sale Dies Clearwater: Automotive Service Centers Files For Bankruptcy - Midas Lacks Golden Touch Long Island bankruptcies continue to tumble Weather Forecast: Enter City, State, or Zipcode: