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

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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

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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

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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

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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

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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

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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

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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

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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

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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

 

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