January 17, 2001 Daily Bankruptcy News

January 17, 2001 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/News/DailyNews.htm

Power Utilities: Power Firm Demands Utilities Pay Bills Now (DBN Subscription Required) SoCal Edison Suspends Debt Payments (DBN Subscription Required) Power rescue prospects dim - PG&E has bankruptcy counsel, but won't name firm (DBN Subscription Required) Lawmakers approve power relief plan (DBN Subscription Required) California power developments at-a-glance (DBN Subscription Required) Calif. sees federal intervention on gas (DBN Subscription Required) PG&E given shield vs. creditors (DBN Subscription Required) Citibank prices ABS deal, stranded cost bonds dim (DBN Subscription Required) Californian power generators haggle over pricing plan (DBN Subscription Required) White House says up to Calif to solve power crisis (DBN Subscription Required) Los Angeles Dept. Of Water And Power Threatens To Pull Plug On Edison (DBN Subscription Required) California Moves Closer to Unhappy Ending to Power Problems (DBN Subscription Required) PG&E Corp Says 8-K Filing Delayed, Still Being Drafted (DBN Subscription Required) California Utility's Power Supply Could Be Cut (DBN Subscription Required) MBIA, Ambac have no exposure to SoCal Edison notes Group urges Congress to pass electricity laws California PUC - "Bankruptcy A Very Real Possibility" (DBN Subscription Required) Wall Street unsure if it's time to buy hammered utilities (DBN Subscription Required) Dynegy Watching Underpowered Areas (DBN Subscription Required) California seen narrowly averting blackouts - SoCal Edison halts debt payments, credit rating cut to junk status(DBN Subscription Required) S&P Cuts Pacific G&E And Parent to Junk (DBN Subscription Required) Is Gamesmanship At Play? (DBN Subscription Required) Big Utility Will Miss Payment Calif. Crisis May Force a Bankruptcy (DBN Subscription Required) Two Calif. Utilities Closer to Bankruptcy (DBN Subscription Required) Only 54% of Californians Feel That There Is an Energy Crisis (DBN Subscription Required) _________________ BioShield Unit Moves To Chap 11 Bankruptcy From Chap 7 (DBN Subscription Required) Nasdaq To Delist Pacific Gateway Exchange	Imperial Sugar: Imperial Sugar, Largest U.S. Sugar Processor, Files Chapter 11 (DBN Subscription Required) Imperial Sugar Company Receives Bondholder Approval and Bank Financing Files Pre-negotiated Plan of Reorganization (DBN Subscription Required) _______________ Salary Wars: The Sequel? - The Bidding Will Open At $170,000 (DBN Subscription Required) Slowing Economy Has Law Firms Expanding (DBN Subscription Required) HomePlace Stores Files For Chapter 11 Bankruptcy In Del. (DBN Subscription Required) TWA: Billionaire seeking others to offer bid for airline (DBN Subscription Required) Aircraft Leases Could be Key to Viability of American-TWA Merger (DBN Subscription Required) ____________ Steel Industry: Canadian steel giant Stelco warns of $50M loss in Q4, wiping out 2000 profit Governor Taft heads to LTV Steel to gather information on industry's woes (DBN Subscription Required) _____________ Economy: Business inventories rise, sales fall (DBN Subscription Required) U.S. Southeast economic outlook clouded by layoffs ______________ Lernout & Hauspie: Lernout & Hauspie CEO Resigns (DBN Subscription Required) Lernout & Hauspie CEO Duerden Resigns Amid Executive Shake-Up (DBN Subscription Required) L&H names Philippe Bodson as CEO FLV Fund on the block (DBN Subscription Required) ___________ Movie Theater Industry: Loews seeks financing in possible bankruptcy prelude (DBN Subscription Required) Loews misses deadline; ponders sale of assets (DBN Subscription Required) _____________ Morris Material Handling, Inc. Files Plan of Reorganization Creditors to rule on Malevich painting High Point, NC: Furniture Manufacturer U.S. Furniture Industries Closes Doors Debtors can't be forced "to sell apples on the street ... to satisfy an impossibly large unsecured obligation (DBN Subscription Required) Johnson and Evinrude: Bankruptcy puts history in jeopardy (DBN Subscription Required)	New Bankruptcy Opinions (2 new opinions today) Creditors sue Adventists over bankrupt hospital (DBN Subscription Required) Brobeck Launches National TV Advertising Campaign Telecoms: Globalstar suspends debt payments (DBN Subscription Required) Northpoint to file Chapter 11, sell assets Globalstar suspends debt payments (DBN Subscription Required) Globalstar shareholders at risk in firm's debt crunch (DBN Subscription Required) Globalstar's pain may hurt partners (DBN Subscription Required) Faltering Globalstar Stops Its Debt Payments (DBN Subscription Required) _____________ Southwest Airlines’ Big Fuel-Hedging Call is Paying Off (DBN Subscription Required) Citigroup's profits rise, Bank of America's slide (DBN Subscription Required) Bad Loans Burn Bank of America (DBN Subscription Required) Chiquita: Chiquita halts debt payments, stock plunges (DBN Subscription Required) Chiquita stops paying debt (DBN Subscription Required) Chiquita planning to file for bankruptcy (DBN Subscription Required) Chiquita Might Wind Up in Chapter 11 (DBN Subscription Required) ______________ Oklahoma: Bankruptcies decline again in state's northern district Legend Airlines: Judge OKs 20M Financing for Legend Airlines (DBN Subscription Required Judge OKs Legend deal with investors (DBN Subscription Required) ____________ Dotcoms: Ailing Drkoop.com Cuts 45 Jobs and Heads West LanguageWare.net Announces Plans to Wind Down Operations Online Real Estate Businesses Struggle in a Doubly Difficult Market (DBN Subscription Required) _____________ Restructuring . . . Denver, CO: Costs force Rhythms to lay off 450 ______________ Asbestos Panel Objects To Owens Corning Employee Programs Natural Wonders Shares To Be Delisted From Nasdaq Jan. 17 Weather Forecast: Enter City, State, or Zipcode: