January 2, 2001 Daily Bankruptcy News

January 2, 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

LTV: Steelmaker LTV Files for Chapter 11 LTV says court approves plan to keep company running Local Bank Won't Cash LTV Employees' Paychecks LTV To Stay Open For Time Being Bankruptcy won't halt city bid for LTV funds Firm steels itself for 2nd bankruptcy LTV Files For Chapter 11; Bank Deal Averts Closings Steel Imports Force LTV to Bankruptcy Analysts expect major changes in LTV if it survives ordeal Cleveland-Cliffs says LTV's actions to determine impact LTV steel back in trouble - A shutdown? - Nation's fourth-largest steelmaker seeks bank reprieve, says pensions threatened List of bankrupt US steel makers grows ___________ Bankruptcy Reform: Gekas puts bankruptcy law reform at top of list ____________ Auditor Raises Going Concern Doubt For Imperial Sugar Moody's sees 17 Dec. corp defaults, capping awful year Continuing Troubles at HMOs Promise a Wild Ride Stage Stores Announces New Store Closing Program Nasdaq delists Metal Management from smallcap market Airlines: Legend Airlines Approved for Restart Loans jumpstart Legend Air Legend terminal could be next battlefield at Love ____________ Dotcoms: Trenite Van Doorne Law Firm Is Curator For Letsbuyit.com Judge Rules That Failed Dot-Com Can Resell Its Lease (NYT: free registration required) Internet Sports Network Announces Its Plans to Cease Operations Old-Line Retail Sense Humbles Dot-Coms New Economy Sours For Venture Funds (WSJ: paid subscription required) Austin, Texas-Based Web Garden Firm to Shut Down Investors, Consumers Buy a Dot-Com Bill of Goods Online energy exchanges may bomb ____________ Retail Industry: Post-Christmas, the Outlook Is Grim for Stores Malls report brisk after-holiday traffic, but retail future looks bleak Analysts Say All Signs Point to Under-Par Retail Season ____________ Economy: 2001's 'soft landing' could get a little bumpy New year slowdown starts early ____________	Pacific Gateway files for Chapter 11 bankruptcy protection San Antonio, TX: Bankruptcy trustee's suit attacks InverWorld's New York counsel, alleging "lawyer malfeasance of staggering proportions." Montgomery Ward: Montgomery Ward Remnants of Little Value Word of Ward Closing Attracts Crowds at Last Ward's Problems Ran Far Too Deep For Stars To Solve Penny pinching hurt Wards Explosion Of Retailers Helped To Sink Wards Wards policy upsets some Ward's Closure Bolsters Firm's Plans to Build 'Italian Village' Demise of Montgomery Ward Will Ripple Through Industry (WSJ: paid subscription required) Ward's closings to cost state nearly $26 million in wages GE `swung and missed' with retailer Wards ___________ Bankrupt Landels Ripley Law Firm Gets $5M for Lease Newer Technology ceases operations; to seek bankruptcy Bradlees to Honor Cash Cards and Exchanges Through January 15, 2001 Drypers: Drypers- Court OKs Paragon Trade As Stalking Horse Bidder Georgia Firm Offers $70.2 Million for Ailing Drypers ___________ Power Utilities: PG&E says credit crisis puts Feb natgas supplies in doubt California Utilities Outrage Customers with Huge Rate Increase Requests Consumer groups question Calif. utilities rate hike demands Natural Gas Suppliers Are Refusing to Sell to PG&E Dark Days for Edison's Bright Light ____________ Dorsey Trailers Announces Further Actions Under Bankruptcy Lernout & Hauspie: The Talk of Flanders Has Most Speechless __________ GlobalMedia.com Announces Restructuring of Business Including the Sale of Radio Assets to SurferNETWORK.com Gaming Industry: Regent vows to stay open while renegotiating loans ___________ Commodore: Cruise line hurt by rapid growth ____________ Bankruptcy Blues May Play Into New Year Tacoma, WA: T&W files liquidation plan Regal: Debt may pull plugs on movies U.S. Trucking Plans Move And Stock Split Austin, TX group acquires custom club retailer in bankruptcy sale	New Bankruptcy Opinions (1 new opinion today) Canada: Officeland Files a Notice of Intention to Make a Proposal Churches struggle for financial stability, forgiveness in residential school fallout __________ England: 'Depressing' Dome closes down ____________ Korea: Banks, Creditors Will Extend Hyundai Engineering's Loans Until June S. Korea Injecting Funds Into Banks SKorea President Seeks Restructuring __________ Japan: Buried in the Books Ailing Sogo firms paid chairman Tokyo's Market Plan- A New Bank Bailout? ____________ Restructuring. . . ECI Telecom cuts 400 jobs to reduce costs Cascades Completes its Restructuring Cybex to lay off 26 percent of employees, show Q4 loss Berlitz considers buyout, will restructure, lay off Polysindo Bondholders Reach Agreement in Debt Restructuring Process Schrempp says Chrysler restructuring to take 2 to 4 years __________ Leaving law behind: Government bankruptcy lawyer makes big career change St. Petersburg, FL: Area law firms prepare for bankruptcy boom Drypers Corporation Announces Proposed Transaction With Paragon Trade Brands Specter of Bad Loans Haunts Chase-J.P. Morgan Union Bradlees: Bradlees bends to pressure Bradlees to honor its gift coupons ____________ Number of bankruptcies drop in Vermont for second year in a row Layoffs coming at Wheeling-Pitt Evansville-, IL: Dog N Suds closes five restaurants, reportedly files bankruptcy Consumer Credit: Consumer credit troubles predicted to rise Wichita, KS- Home foreclosures are on the upswing, and experts say consumer credit habits are to blame __________ Conseco, Finova Rise on Buffett Buy News As Buffett Buys Junk, Others May Follow Atlanta, GA: Medical management firm seeks bankruptcy protection Weather Forecast: Enter City, State, or Zipcode: