TCR_Public/000126.MBX     T R O U B L E D   C O M P A N Y   R E P O R T E R
        
          Wednesday, January 26, 2000, Vol. 4, No. 18

                      
                      Headlines

AGRIBIOTECH: Intends to File Voluntary Bankruptcy Petition
ALL AMERICAN: Case Summary & 20 Largest Unsecured Creditors
AUTOLEND:  Announces Stock Offering & Closing Of Reorganization
CALIFORNIA COASTAL COMMUNITIES: Edelman Entities Reports Holdings
CODA ACQUISITION: Meeting of Creditors

COMMERCIAL FINANCIAL: Committee To Hire Financial Advisors
CRIIMI MAE: Report Sets Hearing Dates
DEGA TECHNOLOGY: Ordered into Bankruptcy
ELECTRO CATHETER: Order Further Extends Exclusivity
HORN COMPANY: Case Summary and 20 Largest Unsecured Creditors

INCOMNET INC: Order Authorizes Employee-Incentive Program
KAMPEN & ASSOC: Notice of Dismissal
LOEWEN: Announces Court Approval of Asset Disposition Program
NATIONAL HEALTH: Extension of Time To File Disclosure Statement
NEUROMEDICAL SYSTEMS: Debtor Replies to Objection

NEXTWAVE: Press Release Details Appeals Court's Denial to FCC
ONE STOP WIRELESS: Second Motion for Creditors Committee
ONTRACK DATA: Announces Termination of Legato Merger Agreement
OXFORD HEALTH PLANS, INC.: Moody's Changes Outlook To Stable
PICO MACOM: Seeks Extension of Time To Assume Leases

PRECEDENT HEALTH: Trustee Applies To Employ Accountant
TERRY PRODUCTS: Hearing On Application to Extend Exclusivity

                       ********

AGRIBIOTECH: Intends to File Voluntary Bankruptcy Petition
----------------------------------------------------------
AgriBioTech Inc. (Nasdaq CMS:ABTX) today announced that ABT and
its operating subsidiaries intend to file this week voluntary
petitions with the U.S. Bankruptcy Court for the District of
Nevada in Las Vegas to reorganize under Chapter 11 of the U.S.
Bankruptcy Code in order to implement an operational
restructuring and financial reorganization.
  
ABT intends to operate in the normal course of business during
the restructuring.
  
To ensure that ABT has the short-term working capital necessary
to operate its business, ABT is negotiating for debtor-in-
possession ("DIP") financing from its current lending group, led
by Bank of America N.A. This DIP financing should include
additional funds.
  
Promptly after the filing, ABT will request the Court's
permission to access the DIP financing to fund normal business
operations and other cash needs during the bankruptcy proceeding.
The company intends to pay employee salary, wages and benefits
throughout the reorganization process.
  
The company said that its efforts over the past several months to
obtain a new financing package from GE Capital were unsuccessful.
  
"AgriBioTech has faced many challenges in the last few years,"
said Chairman and Chief Executive Officer Richard Budd. "An
oversupply of seed with a downturn in industry pricing,
difficulties inherent in integrating the operations,
culture and accounting systems of 34 companies into single
operational units, delays in bringing seed to market, reduced
revenues, higher-than-expected expenses and slow cash collections
from a weak agricultural economy have led to significant losses
and a lack of current liquidity.
  
"However, we believe that the benefits afforded by Chapter 11
will allow us to successfully restructure our operations and
devise a plan to pay our creditors."
  
Budd continued, "Most importantly, we believe Chapter 11 aids our
ability to continue to serve our customers and pay our employees,
and vendors while we reorganize."
  
The book value of ABT's assets (excluding intangibles such as
goodwill) of Dec. 31, 1999, exceeded liabilities. AgriBioTech is
a vertically integrated, full-service seed company specializing
in the forage and turfgrass sector, complete with research and
development of proprietary seed varieties, seed processing
plants, and a national and international distribution and sales
network.


ALL AMERICAN: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor:  All American Aviation & Mfg. Inc
          590 W. Clearwater Loop
          Post Falls, ID 83854

Type of Business:  Manufacturing aircraft components.

Petition Date:  January 20, 2000      
Chapter 11
Court:  District of Idaho                   
Judge:  Terry L. Myers

Debtor's Counsel:  Bruce Anderson
                    Elsaesser, Jarzabek Anderson Marks & ELL
                    123 S. Third Ave. PO Box 1049
                    Sandpoint ID 83864
                    (202) 263-8517

Total Assets:  $ 1,394,000.00
Total Debts:    $ 4,163,260.15

20 Largest Unsecured Creditors

Johnson & Father     outside processing     $ 32,697.20
Pasold Architects            architect      $ 23,536.05
Shelter & Associates         contractor     $ 22,818.32
PM Machine Sales       machine brokers      $ 17,787.41
Sims Liesche Reagan Wallace attorney fees   $ 15,549.11
Wells St. John Roberts  patent attorneys    $ 15,333.22
Pacific Metallurgical  outside processing   $ 11,979.62
C&S Associates          commission owning   $ 10,289.09
Aerospace Bearing      outside processing    $ 8,876.71
Clark Anderson McNellis     accountants      $ 5,903.09
Thompson Gundrill   outside processing       $ 4,592.00
Fry Steel                   materials        $ 3,003.30
Alloy Hard Surfacing  outside processing     $ 2,520.15
Lemaster & Daniels            accountant     $ 2,080.74
Maloney O'Neil Corkery   Insurance brokers   $ 2,028.84
Avista                       utilities       $ 2,012.39
Lanning Metals         outside processing    $ 1,880.64
Alliance Bearings      outside processing    $ 1,663.95
AM Precision           outside processing    $ 1,592.00
Intech EDM             outside processing    $ 1,127.32


AUTOLEND:  Announces Stock Offering & Closing Of Reorganization
---------------------------------------------------------------
AutoLend Group, Inc. (OTC Bulletin Board: AUTL) (the "Company")
announced that it has filed a Registration Statement on Form S-1
with the U.S. Securities and Exchange Commission (the "SEC") that
became effective on January 19, 2000.  A corresponding Prospectus
(Form 424B1) was filed with the SEC on January 20. Copies of the
Prospectus will be mailed by the Company to shareholders of
record this week.  The Prospectus is also available online by
typing the word "AutoLend" at the SEC's EDGAR website
[www.sec.gov/cgi-bin/srch-edgar] as well as other websites which
offer access to the SEC's EDGAR database, such as FreeEdgar.com
[www.freeEdgar.com].
  
As stated and defined in the Prospectus, the Company is offering
shares of new common stock to present holders of the Company's
old, canceled common stock, as well as to present holders of the
Company's canceled preferred stock, warrants, and options.  The
new common stock is only being made available to holders of these
canceled securities (with the exception of shares to be issued to
certain former debenture holders, as described below). The
Company's old common stock (all of which has been cancelled) is
still trading occasionally on the OTC Bulletin Board, as
possession of the old stock provides the right to participate in
this offering.  The offering, as described and defined in the
Prospectus, is being done in conjunction with the Company's
confirmed Plan of Reorganization, and as such it provides certain
quantities of new common shares
to be made available to each class of securities cancelled in the
Company's Reorganization.

At present, the Company's only common stock in circulation is the
old common stock.  After new common stock is issued in
conjunction with this offering, the old common stock will cease
to trade and will no longer have any significance. All old common
stock was canceled (as to its equity ownership claim) effective
March 5, 1999, as part of the Company's Chapter 11 voluntary
bankruptcy Reorganization.  Thus, until new common stock is
issued in conjunction with this offering, the Company at present
has no shares officially valid, issued, and outstanding (although
a million new shares are owed to certain former debenture
holders, as below).  The old common stock bears the Company's
former corporate name, CapX Corporation; the new common stock
will bear the Company's present corporate name, AutoLend Group,
Inc.
  
The offer to holders of old common stock and preferred stock will
expire on March 18, 2000.  Holders of these canceled securities
may purchase shares of new common stock for $1.00 per share, and
may elect to secure this right by making a payment of 25% before
the March 18 deadline.  Holders of old common stock may thereby
purchase up to one share of new common stock for each share of
old common stock held and tendered at the time of their purchase
election. Holders of the canceled preferred stock may purchase up
to one hundred shares of new common stock for each share of
preferred stock held and tendered at the time of their purchase
election.  After the March 18 deadline, holders of old common and
preferred stock who have participated in the offering (and thus
procured new common stock) will have an additional thirty days in
which to elect to buy additional shares.  Any such additional
shares which may be available will come from the remaining shares
of new common stock which were allotted to this class and were
not subscribed-for by the March 18 deadline.
  
The offer to holders of the Company's warrants and options is to
purchase up to the same number of shares of new common stock as
was provided in the warrant or option for old common stock, at a
strike price of $4.00 per new common share.  The deadline for
such exercise is March 4, 2000, after which date the
warrants and options will cease to have any significance.
  
Additionally, the Company will be issuing approximately one
million shares of new common stock as payment to certain former
debenture holders who made certain elections under the Company's
Plan of Reorganization.
  
Chapter 11 case now officially closed.
  
The Company further announced that, effective January 13, 2000,
the Bankruptcy Court entered its final decree, thereby closing
the Company's bankruptcy case.  For a copy of the Prospectus,
please contact the Company at (505) 768-1000, or by fax at (505)
768-1111.
  
  
CALIFORNIA COASTAL COMMUNITIES: Edelman Entities Reports Holdings
-----------------------------------------------------------------
The Edelman Partnership investment firm beneficially owns the
following shares of common stock of California Coastal
Communities Inc., with shared voting and dispositive powers:

A.B. Edelman Management Co., Inc., 369,903 shares (comprised of
shares owned by Edelman Value Partners, L.P.) representing 3.68%
of the outstanding common stock of the company;

Asher B. Edelman, 787,419 shares (comprised of shares owned by
Edelman Value Partners, L.P., shares owned by Edelman Value Fund,
Ltd. and shares owned by Wimbledon Edelman Select Opportunities
Hedged Fund, Ltd.) comprising 7.82% of the outstanding shares;

Asher B. Edelman & Associates LLC, 417,516 shares (comprised of
shares owned by Edelman Value Fund, Ltd. and shares owned by
Wimbledon Edelman Select Opportunities Hedged Fund, Ltd.)
representing 4.15% of the outstanding shares,

Edelman Value Fund, Ltd., 417,016 shares, representing the 4.15%
of outstanding shares mentioned above;

Edelman Value Partners, L.P.,  369,903 shares, or 3.68% of the
outstanding shares;

Weston Capital Management LLC,  500 shares (comprised of shares
owned by Wimbledon Edelman Select Opportunities Hedged Fund,
Ltd.), .005% of the outstanding shares;

Wimbledom Edelman Select Opportunities Hedged Fund Ltd., as
above, 500 shares, at .005%;

Wimbledon Fund, Ltd, Edelman Select Opportunities Hedged Class
Shares, 500 shares (comprised of shares owned by Wimbledon
Edelman Select Opportunities Hedged Fund, Ltd.) and also at
.005%.

Edelman Value Partners, L.P., is a Delaware limited partnership,
Edelman Value Fund, Ltd., a British Virgin Islands corporation,
A.B. Edelman Management Company, Inc., a New York corporation,
Asher B. Edelman & Associates LLC, a Turks and Caicos limited
liability company, Wimbledon Edelman Select Opportunities Hedged
Fund, Ltd., a Bahamian corporation, Wimbledon Fund, Ltd., Edelman
Select Opportunities Hedged Class Shares, a Bahamian corporation,
and Weston Capital Management LLC, a Connecticut
limited liability company.


CODA ACQUISITION: Meeting of Creditors
--------------------------------------
A meeting of creditors in the case of CODA Acquisition Group,
Ltd. shall be held on February 23, 2000 at 3:30 PM at the Office
of the United States Trustee, 80 Broad Street, Second Floor, New
York, NY 10004-1408.


COMMERCIAL FINANCIAL: Committee To Hire Financial Advisors
--------------------------------------------------------
The Official Committee of Unsecured Creditors of Commercial
Financial Services, Inc. applies for authority to employ
Technology & Dispute Resolution Consulting, Inc. as financial
advisors for the Creditors Committee.

Policano & Manzo LLC resigned as financial advisors on January
13, 2000.


CRIIMI MAE: Report Sets Hearing Dates
-------------------------------------
Pursuant to a court order dated January 14, 2000, the debtors,
the Official Committee of Equity Security Holders of CMI, the
Official Committee of Unsecured Creditors of CMI and the Official
Committee of Unsecured Creditors of Management propose that with
respect to the Management Committee Plan and Disclosure Statement
Motion, responses to that motion must be filed on or before
January 31, 2000.  The parties jointly request that a hearing on
approval o the proposed disclosure statements be held on the
first date available on or after March 6, 2000.


DEGA TECHNOLOGY: Ordered into Bankruptcy
----------------------------------------
Spectre Industries, Inc., (OTCBB:STND) wishes to announce the
following developments:
  
The United States Bankruptcy Court, Central District of
California, has advised that on the consideration of the petition
filed against Dega Technology, Inc. ("Dega") and that Dega failed
to answer or otherwise plead to the petition within the period
prescribed in the Bankruptcy Rules, an Order of Relief under
Chapter 7 of the United States Code is granted. Judge Robin
Riblet of the United States Bankruptcy Court, granted the order
on January 7, 2000.  The case number is ND-99-14336 RR.
  
The Court further ordered that Dega shall prepare, make oath to,
and file in the Court, within fifteen days a schedule of all its
property, the location of the property and the money value in
detail. Dega is to provide a list of all its creditors and the
details of all of its debts.
  
The Court has appointed a Trustee who will preside over a meeting
of the creditors scheduled for February 29, 2000.
  

ELECTRO CATHETER: Order Further Extends Exclusivity
---------------------------------------------------
By order entered on January 6, 2000, the debtor's exclusive right
to file a plan of reorganization is extended for a period of
ninety days to and including April 4, 2000, and the debtor's time
within which acceptances may be solicited is hereby further
extended for an additional period of sixty days thereafter, to
and including June 3, 2000.


HORN COMPANY: Case Summary and 20 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor:  The Horn Company,
          A Nevada Corp.
          2450 Chandler Ave., #1
          Las Vegas, NV 89120

Type of Business: Real estate investment.
Petition Date:  January 3, 2000         
Chapter 11
Court:  District of Nevada                  
Judge:  Linda B. Riegle

Debtor's Counsel:  William L. McGimsey
                    William L. McGimsey, Esq.
                    601 E. Charleston Blvd.
                    Las Vegas, NV 89104
                    (702) 382-9948

The following financial data is the latest available information
and refers to debtor's condition on September 8, 1999.

Total Assets:  $ 9,330,000.00
Total Debts:    $ 6,163,000.00

20 Largest Unsecured Creditors

Cornstock Bank                       $ 2,183,500.00
Gonzo Financial                        $ 850,000.00
Integrated Financial Assoc.            $ 320,000.00
Peno Bottom Partners                   $ 300,000.00
USA Capital                            $ 273,000.00
Pioneer Citizens Bank                  $ 250,000.00
US Rentals                             $ 173,000.00
Cap Source                             $ 150,000.00
Cornstock Bank                          $ 96,000.00
Jimmerson Hansen                        $ 92,571.00
Cornstock Bank                          $ 82,500.00
Cornstock Bank                          $ 75,000.00
USA Capital                             $ 50,384.48
Cap Source                              $ 50,000.00
Kolesar & Leatham                       $ 44,230.69
M & M Electric                          $ 21,615.00
Ellsworth, Moody & Bennian              $ 20,944.86
Penn-American Insurance                 $ 18,709.00
Edwards & Winterton                     $ 16,649.23
Accountants Executive Search            $ 12,937.50


INCOMNET INC: Order Authorizes Employee-Incentive Program
---------------------------------------------------------
Judge John E. Ryan entered an order granting the motion insofar
as it pertains to the retention bonuses and performance bonuses
provided under the Incentive Program.


KAMPEN & ASSOC: Notice of Dismissal
-----------------------------------
An Order of Dismissal with prejudice of this case was signed on
January 14, 2000 by US Bankruptcy Court Judge Samuel J. Steiner.


LOEWEN: Announces Court Approval of Asset Disposition Program
--------------------------------------------------------------
The Loewen Group Inc. (NYSE, TSE: LWN), today announced that the
United States Bankruptcy Court for the District of Delaware has
approved the Company's proposed bid procedures to be followed in
connection with its previously-announced program for disposition
of non-strategic assets. Through this program the Company intends
to sell up to 371 of the approximately 1,300 funeral home and
cemetery locations at which the Company does business in the
United States. Although many of the properties being made
available for sale have good track records and well-established
reputations in their communities, the Company has determined that
they do not fit into Loewen's long-range business plans - in many
cases because their geographic locations do not permit the
properties to realize synergies with other Loewen funeral homes
and cemeteries.
  
During the past two weeks, the Company, through its financial
advisors Wasserstein Perella & Co., has been distributing
packages of information on the for-sale properties to interested
parties who have signed confidentiality agreements. February 7,
2000, has been set as the date by which parties interested in
bidding must submit letters of intent identifying the properties
which they wish to purchase and stating, subject to further due
diligence, the prices that they would be prepared to pay for
those assets. In the course of the asset disposition program, the
Company will consider all qualified bids, whether for geographic
groups of properties or for single locations, with the objective
of maximizing the total value received for assets. In an
unrelated announcement, the Company also advised that it now
expects that the New York Stock Exchange will not begin the
process of delisting the Company's shares before February 25,
2000. Based upon previous communications from the NYSE, the
Company had previously announced that, due to continued
trading of the Company's shares at prices below the Exchange's $1
per share standard, trading on the NYSE could be suspended and
the delisting process begun as early as January 25, 2000.
  
Based in Vancouver, The Loewen Group Inc. owns or operates more
than 1,100 funeral homes and more than 400 cemeteries across the
United States, Canada, and the United Kingdom. The Company
employs approximately 13,000 people and derives approximately 90
percent of its revenue from its US operations.
  

NATIONAL HEALTH: Extension of Time To File Disclosure Statement
---------------------------------------------------------------
The proponents of the joint plan of reorganization, National
Health & Safety Corporation, KJEI Ltd. and United Realty Group,
LP state that a short additional time period is needed to finish
the revisions, including, but not limited to, the equity
restructuring of the debtor. The plan proponents believe that an
additional ten days will be sufficient to finalize the
amendments.  The plan proponents request that they be given until
January 24, 2000 to file an amended disclosure statement and
accompanying plan and that the disclosure hearing be rescheduled
to February 14, 2000.


NEUROMEDICAL SYSTEMS: Debtor Replies to Objection
-------------------------------------------------
Neuromedical Systems, Inc., debtor, replies to the further
response to objections of debtor and the official committee of
unsecured creditors of debtor filed by Herman Erdan, Leonard
Fuchs and Jackie Herbst.  The debtors state that these holders of
stock warrants(which incidentally expired by their terms
unexercised) seek to transform their interests into creditor
claims.

The debtor points out that the stock warrants are equity security
interests, and although they were in exchange for services
rendered, the debtor claims that they remain a purchase of
securities.


NEXTWAVE: Press Release Details Appeals Court's Denial to FCC
--------------------------------------------------------------
This afternoon, the U.S. Court of Appeals for the Second Circuit
issued an order denying a motion filed this morning by the FCC
that sought to stay further proceedings concerning NextWave
Telecom Inc.'s bankruptcy reorganization that are being conducted
before U.S. Bankruptcy Judge Adlai S. Hardin.
  
Specifically, the FCC asked the Second Circuit to stop the
bankruptcy court from "incur[ring] upon the FCC's exclusive
jurisdiction" concerning NextWave's PCS spectrum licenses by
conducting proceedings on the question whether the
  FCC's January 12, 2000, announcement canceling those licenses is
null and void due to the operation of numerous provisions of the
Bankruptcy Code.  A hearing on that question was held last
Friday, January 21st, in Judge Hardin's courtroom in White
Plains, N.Y., and Judge Hardin is expected to issue a decision
shortly.
  
Confirmation of NextWave's pending plan of reorganization has
been on hold, as a practical matter, since the FCC's January 12th
announcement. The Second Circuit formally stayed confirmation
pending Judge Hardin's decision and any appeals thereof.
  

ONE STOP WIRELESS: Second Motion for Creditors Committee
--------------------------------------------------------
Heath Thompson, while complaining that it is an unfair burden for
one creditor to pay the costs associated with this motion, argues
that the formulation of a Creditors' Committee is crucial in this
case.  Thompson states the debtors, disbursing agent and counsel
have shown a pattern of fraud and a clear intent to thwart the
fraud detection provisions of the Chapter 11 plan.  Thompson
states that the debtors' claimed that paying Freedom Wireless
$1.1 million in Class 7 creditors' money was in the best
interests of the creditors.  Instead Thompson asserts that the
$1.1 million paid to Freed Wireless was a secret payoff to
Cellexis in exchange for getting Cellexis to drop opposition to
the Chapter 11 plan, and for getting Cellexis to stop litigation.  
"This secret quid pro quo is a conspiracy between Cellexis,
Freedom Wireless, and the debtors to defraud the court, and other
unsecured creditors.


ONTRACK DATA: Announces Termination of Legato Merger Agreement
--------------------------------------------------------------
Eden Prairie-based Ontrack Data International Inc. announced that
Ontrack and Palo Alto, Calif.-based Legato Systems Inc.
terminated the agreement and plan of reorganization dated Nov.
18, 1999, which contemplated the merger of Ontrack with a wholly
owned subsidiary of Legato. Ontrack also announced it canceled
the special meeting of shareholders scheduled for Jan. 31.


OXFORD HEALTH PLANS, INC.: Moody's Changes Outlook To Stable
------------------------------------------------------------
Approximately $500 Million in Debt Affected

Moody's Investors Service changed the outlook for the debt
ratings of Oxford Health Plans, Inc.(B3 senior secured bank
facility, Caa1 senior notes, B3 senior implied) to stable from
negative due to stabilized operating performance which should
enable the parent company to maintain current levels of cash over
the near to intermediate term. Moody's notes the company has
successfully executed on several portions of its turnaround plan
including re-pricing of products, exiting unprofitable business
lines, and renegotiating many of its provider contracts,
including shifting of medical risk to various entities. As a
result of these initiatives, Oxford has been able to
significantly improve its medical loss ratios over the past year.

Despite these favorable operating results, Moody's believes that
Oxford will continue to face numerous challenges as it attempts
to sustain and further improve operations over the intermediate
to longer term. In order to reduce losses associated with its
Medicare-risk business, which represents about 15% of total
revenues, Oxford shifted risk to area providers such as North
Shore Medical Center and Heritage New Jersey Medical Group
(Heritage). However, providers and other third parties can face
difficulties and limited financial flexibility when handling risk
arrangements, creating a contingent liability for Oxford. In
fact, the contract with Heritage was terminated following the New
Jersey's Department of Insurance's discomfort with the failure of
PHP Healthcare to manage capitated risk passed on from HIP of New
Jersey. It is too early to determine the success of North Shore's
current arrangement with Oxford, although Oxford has already
terminated Medicare participation in Suffolk County due to
unfavorable rates. In addition, Oxford's ability to control
medical cost trends can be significantly attributed to its
ability to shift risk for other services such as pharmacy,
laboratory, and radiology services. We believe sustainability of
these risk contracts will be critical to Oxford's intermediate
term performance.

On the physician side, in mid-1998 and early 1999, Oxford
instituted lower fee arrangements; while the company has noted
that no major physician defections have occurred to date, network
deterioration may occur over time. On the acute care hospital
side, we believe that Oxford's ability to negotiate more
favorable contracts with key providers in the metropolitan New
York area will continue to be difficult due to the tough
operating environment facing these teaching hospitals. Finally,
Oxford's core commercial membership trends have moderated
following relatively steep premium increases and it is unclear
what effect ongoing rate increases will have on future membership
trends.

Should the company continue to show longer-term evidence of
stabilization, leading to a stronger likelihood that dividend
payments can be upstreamed to the parent, positive rating action
may be warranted.

Oxford Health Plans, Inc. based in Norwalk, Connecticut, is a
leading managed care company providing health benefits programs
to over 2 million members, primarily in its core greater New York
metropolitan market, including New York, New Jersey and
Connecticut.



PICO MACOM: Seeks Extension of Time To Assume Leases
----------------------------------------------------
The debtor, Pico Macom, Inc. seek an extension of time to assume
or reject non-residential real property leases.  A hearing will
be held on February 9, 2000 at 10:00 AM before the Honorable
Arthur M. Greenwald, Central District of California.  

The debtor seeks an extension to and including confirmation of a
plan, or, in the alternative, 120 days, to and including May 13,
2000.  The lease involves the debtor's manufacturing and
distribution facility.  Without the premises, the debtor could
not conduct its business and could not reorganize.

Now that the debtor has obtained post-petition financing and cash
collateral use and has completed most of its initial,
nonrecurring tasks of coming into compliance with Chapter 11
requirements, the debtor has begun to stabilize its business
operations.  The lease expires March 31, 2003 and the monthly
rent is $30,000.


PRECEDENT HEALTH: Trustee Applies To Employ Accountant
------------------------------------------------------
Jeanne Y. Jagow, Chapter 7 Trustee applies for authority to
employ Schulman & Company, LLC as accountant for the estate.  The
firm will serve as the estate's investigative accountant and will
provide expert witness testimony, as may be appropriate.  The
firm will be paid on an hourly basis at $225 per hour for Mr.
Schulman and ranging downward to $60 per hour for his associates.


TERRY PRODUCTS: Hearing On Application to Extend Exclusivity
------------------------------------------------------------
On February 2. 2000, at 9:30 AM before The Honorable Arthur J.
Gonzalez, at the US Bankruptcy Court for the Southern District of
New York, Terry Products, Inc. will seek entry of an order
increasing its exclusive period to file a plan to and including
May 3, 2000 and its exclusive period to solicit acceptances to
and including July 5, 2000.


                      *********

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Partners, Dallas, Texas.

                      *********

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