TCR_Public/000307.MBX   T R O U B L E D   C O M P A N Y   R E P O R T E R

     Tuesday, March 7, 2000, Vol. 4, No. 46  

ABACAN RESOURCE: Voluntary Assignment For Benefit of Creditors
AGRIBIOTECH: Announces Interim Bankruptcy Court Order
AMF BOWLING: Reports Operating Results
AMRESCO S&P Lowers Ratings on Classes of Residential Securities
ARM FINANCIAL: Closes Transaction With Insurance Company

CARSON INC: L'Oreal Signs Definitive Acquisition Agreement
EAGLE FOOD: Case Summary and 20 Largest Unsecured Creditors
FAMILY GOLF CENTERS: To Defend Against Class Actions
FORCENERGY: Anschutz Entities Detail Stock Holdings
GARDEN BOTANIKA: Extension of Exclusivity, February Sales

GENICOM: Donnellan/Glass & Assoc. Appointed President and CEO
GENICOM: Seeking Financing; Bankruptcy Possibility
GOLDEN OCEAN: Taps Zolfo Cooper as Bankruptcy Consultants
GREAT TRAIN: Case Summary and 20 Largest Unsecured Creditors
HARVARD INDUSTRIES: Annual Meeting Set for March 15

HOGIL PHARMACEUTICAL: Last Day To File Proofs of Claim
IRIDIUM: McCaw In and Now Out
IRIDIUM: Remains Committed To Sale
LUMENYTE: Last Date To File Proofs of Claim and Interest
METROTRANS: Order Fixes Bar Date

NATIONSWAY: Files Disclosure Statement and Plan
POCKET COMMUNICATIONS: US Objects To Disclosure Statement
PRIMARY HEALTH SYSTEMS: Announces Agreement with Cleveland Clinic
PRIMARY HEALTH SYSTEMS: Closing Two More Stores in Cleveland Area

SIERRA-ROCKIES: Agrees to Purchase Complete
STARMET: Special Meeting Set In Lieu Of Annual Meeting
TOWER AIR: El Al Interested In Possible Investment
VENCOR: Application to Employ Blackstone as Investment Bankers
VENCOR: To Amend DIP Financing
WHIRLAWAY FROCKS: Case Summary and 20 Largest Unsecured Creditors

Meetings, Conferences and Seminars


ABACAN RESOURCE: Voluntary Assignment For Benefit of Creditors
Abacan Resource Corporation (TSE:ABC) (OTC BB:ABACF) announces that it has
made a voluntary assignment for the general benefit of creditors pursuant
to the Bankruptcy and Insolvency Act (Canada). All of the officers and
directors of the Corporation have resigned effective March 2, 2000.

AGRIBIOTECH: Announces Interim Bankruptcy Court Order
AgriBioTech Inc. (Nasdaq:ABTXQ) announced the entry of an interim
Bankruptcy Court order authorizing the Company to enter into a Chapter 11
DIP credit facility with its pre- bankruptcy lenders.

At an emergency hearing on Feb. 24, 2000, the Bankruptcy Court on an
interim basis authorized the Company to enter into the DIP credit facility
with Bank of America, N.A., as agent, and Deutsche Financial Services
Corp., as administrative agent, for the bank group.

A final hearing, at which the Bankruptcy Court is expected to consider
approving the facility on a permanent basis, has been scheduled for March
22, 2000. Under the Bankruptcy Court's interim order, the Company may
borrow only up to $23 million under the credit facility until the facility
is finally approved. The Company can give no assurance that any final order
of the Bankruptcy Court regarding the credit facility can be obtained.

The Company has previously determined to attempt to sell its assets in one
or more going-concern sales. The Company is in the process of preparing a
bid solicitation package which will be disseminated to eligible parties
expressing an interest.

"While we are confident that solicitation process will help maximize the
value of the Company's assets, at this stage it is impossible to predict
the level of interest among potential purchasers, and it remains uncertain
at best whether the liquidation proceeds will be sufficient to generate any
distribution to the Company's stockholders," said William J. Brandt of DSI.

In papers filed with the Bankruptcy Court, representatives of the Company
advised the Bankruptcy Court that the DIP credit facility was needed to
provide the Company with the funding necessary to operate and maintain its
businesses and to pay critical expenses during the pendency of its Chapter
11 case.

"The Company requires the DIP financing in order to fund the expenditures
which are critical to their on-going operations during the first few weeks
of its chapter 11 case. The Company is experiencing a cash flow crisis, and
needs the proposed DIP facility in order to make payroll and support its
business operations," stated Bradley Sharp, a principal of Development
Specialists, Inc., a court-appointed reorganization consultant to the Company.

Counsel for the Company argued that, absent the funds to be advanced under
the DIP credit facility, the Company would have no way to continue to
operate its businesses and would have to shut its doors.

Before the commencement of the Company bankruptcy case, the bank group had
provided the Company with a $90 million revolving line of credit.

Under the DIP facility, the bank group is anticipated to provide the
Company with a post-petition revolving line of credit of up to $90 million
similar to the pre-petition revolving line of credit, as well as term loans
in an amount equal to the sum of $8.6 million in new funds plus certain
other amounts.
Amounts outstanding under the term loans reduce the amount available under
the revolving line.

Under the DIP credit facility, the Company may request loans or financial
accommodations in the form of advances under the revolving line, term loans
or letters of credit according to a formula that provides for "availability."

Credit under the facility will be limited based on the amount of the
Company's outstanding indebtedness under the facility, outstanding accounts
receivable, and inventory and certain other factors as described in the DIP
credit facility agreement.

Repayment of the obligations for new advances under the DIP facility
effectively will be secured by all of the pre-petition and post-petition
assets of the Company. The Company's "existing" debt under the pre-petition
credit facility will continue to be secured by the same collateral covered
under the bank group's pre-petition loan and security agreement and the
proceeds of such collateral.

The Company expects to make term loan borrowings of $13 million under the
DIP credit facility. Of this amount, approximately $3.6 million is
earmarked to enable the Company to purchase seed to satisfy certain
inventory purchase orders of Home Depot, a major customer.

An additional $5 million will be used to fund certain other business
activities, including purchase of seed for blends and mixes, freight costs,
and quality testing, needed to move products to market during the Company's
critical shipping season. The balance of $4.4 million represents cash
collateral usage by
the Company authorized to date.

The DIP credit facility terminates on July 31, 2000. However, the facility
may be terminated earlier by the Company, the bank group, or otherwise as
provided under the credit facility agreement, and no assurance can be given
that the credit facility will remain in effect until July 31, 2000.

Before obtaining interim authority to enter into the DIP facility, the
Company had been operating with funds supplied under interim arrangements
with its pre-petition secured lenders. This interim financing expired on
Feb. 25, 2000.

Following the de-listing of the Company's securities from the Nasdaq
National Market on Feb. 18, 2000, the Company requested modification of its
financial reporting obligations from the Securities and Exchange
Commission. On March 1, 2000, after consultation with the Commission, the
Company withdrew its request until further notice.

For further information regarding the AgriBioTech's bankruptcy case,
interested persons may turn to the Company's Web site at

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.

AMF BOWLING: Reports Operating Results
AMF Bowling, Inc., in announcing its operating results for the year ended
December 31, 1999 reports consolidated revenue of $732.7 million, a 0.5%
decrease compared with $736.4 million for 1998. Recurring consolidated
EBITDA for 1999, before restructuring, asset impairment and other special
charges, decreased 0.8% to $129.2 million compared with $130.2 million for
the prior year.

For the fourth quarter ended December 31, 1999, AMF reported consolidated
revenue of $186.2 million, a 13.5% decrease compared with $215.2 million
for the same period of 1998. Recurring consolidated EBITDA for the fourth
quarter of 1999 was $40.3 million, a decrease of 3.6% compared with $41.8
million for the same period of 1998.

"While I am not satisfied with the 1999 financial results, we have made
positive, fundamental changes to become more customer-driven over the past
twelve months," said Roland Smith, AMF's President and Chief Executive
Officer.  "I believe that our Products business has stabilized based on
second half results and that revenue and EBITDA growth in 1999 in our
Centers business was driven by significant operational improvements. Most
importantly, we have established our key priorities for 2000 and we have
the right plans and people in place to achieve them. Everyone at AMF is now
focused to deliver better results."

For the year ended December 31, 1999, Bowling Centers reported revenue of
$585.7 million, an increase of 8.6% compared with revenue of $539.2 million
for 1998. Constant center revenue increased 2.5% in the U.S. and 1.6%
internationally in 1999 compared with 1998. Recurring EBITDA for 1999 was
$143.9 million, an increase of 4.4% compared with $137.9 million for 1998.
Recurring EBITDA margin for 1999 was 24.6% compared with 25.6% for 1998.
The lower EBITDA margin in 1999 reflected higher payroll and maintenance
expenses to support AMF's operating initiatives to improve customer service.

For the quarter ended December 31, 1999, Bowling Centers reported total
revenue of $157.9 million, an increase of 0.9% compared with $156.5 million
for the same quarter of 1998. Constant center revenue increased 1.5% in the
U.S. and 0.7% internationally in the fourth quarter of 1999 compared with
1998. Recurring EBITDA for the fourth quarter of 1999 was $42.4 million, a
decrease of 6.6% compared with $45.4 million for the fourth quarter of

Recurring EBITDA margin was 26.9% for the fourth quarter of 1999 compared
with 29.0% for the fourth quarter of 1998. The lower EBITDA margin in the
fourth quarter reflected higher payroll expense to support customer service

For the year ended December 31, 1999, Bowling Products reported revenue of
$169.3 million, a decrease of 20.3% compared with $212.5 million for 1998.
Recurring EBITDA for 1999 was $8.0 million compared with $10.7 million for
1998, a decrease of 25.2%.

For the quarter ended December 31, 1999, Bowling Products reported revenue
of $37.7 million, a decrease of 37.0% compared with revenue of $59.8
million for the same quarter of 1998. Recurring EBITDA for the fourth
quarter of 1999 was $3.5 million compared with $2.2 million for the same
prior year period, an increase of 59.1%.

Shipments of lane equipment packages for new centers for the fourth quarter
were 432 units. For 1999, NCP shipments totaled 1,343 units compared with
2,466 units for the prior year. Economic difficulties in certain Asia
Pacific markets and increased competition in general continued to impact
results. NCP shipments of 921 units for the second half of 1999
exceeded NCP shipments of 422 units for the first half of 1999. The ongoing
Bowling Products cost reduction program resulted in a decrease of $9.3
million in selling, general and administrative expenses in 1999 compared
with 1998. However, these savings were offset by a decline in gross profit
resulting from lower sales volume and competitive pricing.

For the year ended December 31, 1999, net loss was $162.2 million, compared
with a net loss of $125.9 million, for the prior year. In 1999, the company
recorded an extraordinary gain of approximately $63.9 million in connection
with redeeming a portion of its outstanding zero coupon convertible
debentures. Net loss before extraordinary item was $226.1 million, for
1999, and reflected restructuring, asset impairment and special charges and
a $21.4 million tax expense to reserve for realization of net tax benefits.

For the fourth quarter of 1999, net loss was $44.4 million, compared with a
net loss of $53.9 million, for the same prior year period.

As the largest owner and operator of bowling centers in the world, AMF is a
leading provider of family fun and recreation. The company owns and
operates 539 bowling centers throughout the world, with 417 centers in the
U.S. and 122 centers in 10 other countries. AMF is also a world leader in
the manufacturing and marketing of bowling products, manufactures and sells
the PlayMaster, Highland and Renaissance brands of billiards tables, and
owns the Michael Jordan Golf Company.

AMRESCO S&P Lowers Ratings on Classes of Residential Securities
Standard & Poor's today lowered its ratings on various classes of Amresco
Residential Securities Corp. Mortgage Loan Trust (AMRESCO) series 1997-3
and series 1998-1. Simultaneously, Standard & Poor's affirmed its ratings
on all other AMRESCO series 1997-3 and series 1998-1 certificates.

The lowered ratings reflect the continued inadequacy of excess interest
cash flow to cover monthly losses. This inadequacy has eroded
over-collateralization. Unless collateral performance stabilizes in the
near term, further rating adjustments may follow. Series 1997-3, class B-2F
is currently vulnerable to nonpayment.

Monthly losses to the secured mortgage pools are first absorbed by excess
interest. Should losses exceed the monthly excess interest, the difference
is then directed to reduce over-collateralization. Classes senior to the
lowered classes are further protected from losses by the subordination of
the junior classes.

In the case of series 1997-3, class B-2F, losses to the secured mortgage
pool have exceeded monthly excess interest by an average of 344% in seven
of the last 10 months. Consequently, over-collateralization now equals US
$639,139, or approximately 30% of the pool's over-collaterlization target.
Should losses continue to outpace the production of monthly excess
interest, the class B-2F certificates will default. The percentage of
seriously delinquent loans has remained constant during the last 10 months,
at an average of 9.32%. The total delinquency percentage of the pool has
also remained constant during that time, at an average of 11.83%. Since
issuance, losses have accounted for approximately 1.58% of the initial pool

Adverse mortgage pool performance is also affecting series 1998-1, class
B-1F. Monthly losses are eroding over-collateralization, which currently
stands at US $5.1 million, as losses have exceeded monthly excess interest
in six of the last 10 months. Losses have exceeded excess interest in each
monthly distribution since July 1999. Cumulative realized losses now equal
approximately 1.26% of the initial collateral balance. In addition,
delinquencies have increased during the last 10 months. The seriously
delinquent loan rate increased from approximately 9.93% in April 1999 to
approximately 12.44% in January 2000, and the total delinquency rate
increased from approximately 12.53% to approximately 16.63% during the same

The collateral backing the lowered classes consists of 15- to 30-year,
fixed-rate, subprime residential mortgage pools with highest geographic
concentration in California. At issuance, the second lien component
represented approximately 5% of the total pool principal balance. At
issuance, approximately 25% of the initial pool balance was collateralized
by limited-or alternative-documentation loans, and approximately 60% was
collateralized by cash-out refinancings. The original combined loan to
value ratio was approximately 73%. Currently, an average 63% of the
original pool balances remain outstanding, Standard & Poor's said.

ARM FINANCIAL: Closes Transaction With Insurance Company
ARM Financial Group, Inc. (OTC Bulletin Board: ARMGA) today announced that
it has closed the transaction whereby The Western and Southern Life
Insurance Company (Western and Southern) acquired ARM Financial Group's
(ARM) insurance subsidiaries, Integrity Life Insurance Company and National
Integrity Life
Insurance Company.

Western and Southern is part of The Western-Southern Enterprise, a
financial services group which also includes Western-Southern Life
Assurance Company, Columbus Life Insurance Company, Touchstone Advisors,
Fort Washington Investment Advisors, Todd Investment Advisors, Countrywide
Financial Services, Capital
Analysts and Eagle Realty Group.  Assets owned or under management by the
group exceed $20 billion.  Upon completion of this transaction, such assets
will total $25 billion.  Western and Southern is rated A++ (Superior) for
overall performance by A.M. Best, AAA (Highest) for claims paying ability
by Duff &
Phelps, AAA (Extremely Strong) for financial strength by Standard & Poor's
and Aa2 (Excellent) for financial strength by Moody's.

ARM filed for relief under Chapter 11 of the Bankruptcy Code in the United
States Bankruptcy Court for the District of Delaware (the Bankruptcy Court)
on December 20, 1999.  The sale of the insurance subsidiaries to Western
and Southern was subject to approval by the Bankruptcy Court.  On March 2,
2000, the Bankruptcy Court approved the sale after a hearing.  Under the
terms of the purchase agreement, the purchase price of approximately $119
million, which is subject to a number of downward price adjustments, was
placed in an escrow account.  It may be eighteen months or longer before
any proceeds remaining in
the escrow account, after taking into account the price adjustments, would
be distributed to ARM.  In connection with the Western and Southern
purchase agreement, ARM also entered into settlement agreements with
certain institutional creditors of ARM and Integrity whereby, among other
things, certain obligations and contingent liabilities of ARM and its
subsidiaries were
extended, released or compromised, subject to the closing of the
transaction with Western and Southern.  To the extent that there are funds
remaining in escrow after any downward purchase price adjustments, certain
payments will be made to these institutional creditors for a portion of the
obligations that were extended, released or compromised before any payments
are made to ARM.

ARM is also continuing with the liquidation or dissolution of its remaining
assets.  There can be no assurance that the net proceeds from any
liquidation of the remaining assets and from the sale of the insurance
companies (after taking into account the purchase price adjustments and the
escrow provisions relating to the institutional settlement agreements) will
be sufficient to satisfy the claims of ARM's creditors or enable any
distribution to preferred shareholders. Moreover, ARM believes that it is
extremely unlikely that there will be sufficient proceeds available to make
any distribution to common shareholders. The Company expects to file a Form
8-K with the Securities and Exchange Commission as soon as possible with
respect to these transactions.

CARSON INC: L'Oreal Signs Definitive Acquisition Agreement
L'Oreal S.A. has signed a definitive agreement to acquire Carson, Inc. of
Savannah, Georgia.

Carson, listed on the New York Stock Exchange, is the global leader in
beauty products for the Black consumer with worldwide sales of $176 million
for the last four quarters to September 1999.

Cosmair, Inc., L'Oreal's wholly owned U.S. subsidiary, has entered into
binding agreements with DNL Partners and other stockholders to tender their
Carson shares representing a majority of the company's outstanding shares
and more than 80 percent of the company's voting rights.

Cosmair will launch a cash tender offer at $5.20 net per share commencing
within approximately a week. The completion of the tender offer is subject
to a number of conditions including the expiration of the waiting period
under the U.S. Hart-Scott-Rodino Act.

Upon the successful completion of the U.S. tender offer, Elebelle (PTY)
Ltd., L'Oreal's wholly owned South African subsidiary, will make an offer
equivalent to Rand 2.50 per share for the minority interest in Carson's
South African subsidiary, the JSE-listed Carson Holdings Limited. The
completion of the offer is subject to the approval of the South African
Competition Commission.

Lindsay Owen-Jones, chairman and CEO of L'Oreal S.A. said, "Carson gives
L'Oreal an exceptional opportunity to build further on the significant
progress achieved in the ethnic beauty market, following the acquisition of
Soft Sheen in 1998.  This acquisition is a further strategic step to
enhance the Group's position in ethnic categories both in the United States
and on a global basis and notably in the African region where it will offer
new and exciting growth opportunities."

"Our work in ethnic haircare with Soft Sheen has been a very positive
experience and encouraged us to continue our investment in this market,"
said Guy Peyrelongue, president and CEO of Cosmair. "Cosmair believes in
the ethnic haircare market and is committed to the African-American
customer. Carson will be a fine complement to our company and its existing

Carson, Inc. of Savannah, Georgia, is the leading global manufacturer and
marketer of hair and skin care products that are specifically formulated to
address the unique characteristics of people of color. Carson sells its
products in the U.S. and in more than 60 countries around the world under
the leading brand names of Dark & Lovely, Gentle Treatment, Magic Shave and
Ultra Sheen.  Approximately 25 percent of its sales are generated in

Carson Holdings Limited, based in Johannesburg, is the largest ethnic hair
and personal care company in Africa. Carson employs 1,100 people worldwide,
of which approximately 50 percent are in the U.S.

L'Oreal S.A., based in Paris, is the world's largest beauty company, with
1999 consolidated sales of Euro 10.7 billion. Operating in more than 150
countries and employing more than 42,000 people, L'Oreal Group companies
manufacture and market such well known brands as L'Oreal, Lancome,
Maybelline, Laboratories Garnier, Redken 5th Ave NYC, Ralph Lauren
Fragrances, Giorgio Armani Parfums, Biotherm and Helena Rubinstein. In
1998, Cosmair acquired Soft Sheen Products, Inc., expanding L'Oreal's
worldwide effort to address the special hair needs of ethnic consumers.

Cosmair, Inc., is headquartered in New York City and through its
subsidiaries, employs a total of 7,000 people in research, administration,
manufacturing and distribution facilities in New Jersey, Kentucky,
Arkansas, Illinois and Colorado, as well as in Jamaica and Puerto Rico.

EAGLE FOOD: Case Summary and 20 Largest Unsecured Creditors
Debtor: Eagle Food Centers, Inc.
        801 E. First Street
        Milan, IL 61264
        Mailing Add:
        PO Box 6700
        Rock Island, IL 61264

Type of Business: Eagle is a leading regional supermarket chain operating
in the Quad Cities area of Illinois and Iowa, north, central and eastern
Illinois, eastern Iowa, and the Chicago/Fox River Valley and northwestern
Indiana area under the trade names "Eagle Country Market(R)" and "BOGO's."

Petition Date: February 29, 2000   Chapter 11

Court: District of Delaware

Bankruptcy Case No.: 00-01311

Judge: Roderick R. McKelvie

Debtor's Counsel: Jay M. Goffman; Gregg M. Galardi
                  Skadden, Arps, Slate, Meagher & Flon, LLP
                  One Rodney Square, PO Box 636
                  Wilmington, DE 19899-0636; and
                  Four Times Square, New York, NY 10036
                  (302) 651-3000; and (212) 735-3000

Total Assets: $ 264,889,000
Total Debts:  $ 237,824,000

20 Largest Unsecured Creditors

Alliance Capital Mgmt, LLC
1345 Avenue of Americas
New York, NY 10105
Kafalin Kutasi
212-969-1590                Notes       $ 12,550,000

Morgan Stanley Dean Witter
Two World Trade Center
New York, NY 10105
Matthew Shulkin
212-392-1449                Notes       $ 10,185,000

Atlantic GLB CBO Collateral
2005 Market St
1 Commerce Square
Philadelphia, PA 19103
Paul Longlowis
215-255-1158(facsimile)     Notes        $ 3,000,000

Carillon Holding Ltd.
312 Elm St., Suite 2525
Cinn, OH 45202
Steve Sutermeister
513-632-1439(facsimile)     Notes        $ 2,000,000

Mellon Bank/TSI Pacific
5505 N Cumberland Ave
Suite 301
Chicago, IL 60656
Ron Hoppensteadt
312-419-7996(facsimile)     Trade Debt   $ 1,051,700

Chas Levy Circulating
PO Box 95117
Chicago, IL 60694
Dave Trevetto
312-440-4434(facsimile)    Trade Debt     $ 932,200

Kehe Food Distributing, Inc.
900 N. Schmidt Rd.
Romeoville, IL 60446
Mike Ignash
815-886-0700 ext 217
815-886-1111(facsimile)    Trade Debt     $ 803,900

Dean Food, Co.
PO Box 71184
Chicago, IL 60694
Shannon Trimble
309-793-1910(facsimile)    Trade Debt     $ 801,900

Frito Lay, Inc.
PO Box 200166
Dallas, TX 75320
Chris Hart
630-971-0613(facsimile)    Trade Debt     $ 784,100

Kraft General Foods, Inc.
PO Box 91162
Chicago, IL 60693
Jeff Newbill
800-817-8822(facsimile)    Trade Debt     $ 596,400

McKesson Drug, Co.
PO Box 73984 Dept. C.
Chicago, IL 60673
Larry Secrest
608-781-3373(facsimile)    Trade Debt     $ 436,200

Master Gallery Foods, Inc.
Dept. 77 2958
Chicago, IL 60678
Mark Denton
920-893-6075(facsimile)    Trade Debt     $ 359,100

Gibson Greeting Cards, Inc.
PO Box 360370M
Pittsburgh, PA 15251
Ed Marek
314-878-3921(facsimile)    Trade Debt     $ 282,000

Pepsi Cola General
PO Box 75944
Chicago, IL 60675
Scott Lenke
773-893-2074(facsimile)    Trade Debt     $ 268,200

Proctor & Gamble
PO Box 70437
Chicago, IL 60673
Teresa Niemer
513-945-8368(facsimile)    Trade Debt     $ 267,600

Stamps on Consignment
US Postal Service
PO Box 2350
Carol Stream, IL 60132
Lisa Denison
214-672-0667(facsimile)    Trade Debt     $ 267,000

American Bottling, Co.
21431 Network Place
Chicago, IL 60673
Mike O'Brien
708-562-0714(facsimile)   Trade Debt      $ 264,900

Best Foods Baking, Grp.   Trade Debt      $ 223,700
Nebraska Beef, Ltd.       Trade Debt      $ 222,800
Edy's Grand Ice Cream     Trade Debt      $ 210,300

FAMILY GOLF CENTERS: To Defend Against Class Actions
On February 16, 2000, a class action was commenced in the United States
District Court for the Eastern District of New York by Myrna Rombach, on
behalf of herself and all others similarly situated, against Family Golf
Centers, Inc., Dominic Chang, the company's Chief Executive Officer,
Krishnan P. Thampi, the company's President, Chief Operating Officer, and
Treasurer, and Jeffrey C. Key, formerly, the company's Chief Financial

On February 22, 2000, a class action was commenced in the United States
District Court for the Eastern District of New York by Jerrold Schaffer, on
behalf of himself and all others similarly situated, against the company,
Mr. Chang and Mr. Thampi.

Both the Rombach plaintiffs and the Schaffer plaintiffs allege that the
defendants violated Section 10 of the Securities Exchange Act of 1934 and
Rule 10b-5 promulgated thereunder in that they (a) employed devices,
schemes and artifices to defraud, (b) made material misrepresentations of
fact and failed to disclose material facts necessary in order to make the
statements made, in light of the circumstances under which they were made,
not misleading, or (c) engaged in acts, practices and a course of business
that operated as a fraud or deceit upon the Rombach plaintiffs and the
Schaffer plaintiffs, respectively, in connection with their purchases of
the company's common stock, par value $.01 per share, during the period
from July 23, 1998 to August 12, 1999. In addition, the Rombach plaintiffs
and the Schaffer plaintiffs allege that, by virtue of their positions as
controlling persons of the company, the individual defendants (Mr. Chang
and Mr. Thampi) violated Section 20 of the Exchange Act. The Rombach
plaintiffs and the Schaffer plaintiffs seek undisclosed damages (including,
in the case of the Rombach Class Action, punitive damages) and
reimbursement for their costs and expenses of litigation.

The company indicates it believes that the allegations lack merit and
intends to vigorously contest both the Rombach Class Action and the
Schaffer Class Action.

FORCENERGY: Anschutz Entities Detail Stock Holdings
The Anschutz Corporation, Anschutz Company and Philip F. Anschutz
beneficially own 6,489,288 shares of the common stock of Forcenergy Inc.,
representing 26.5% of the outstanding shares of common stock of the
company.  They exercise shared voting and dispositive powers over the
stock.  Anschutz Investment Company, owns 932 shares of the common stock
and shares voting and dispositive powers over these shares.

The Anschutz Corporation is a Kansas corporation, Anschutz Company, a
Delaware corporation, Anschutz Investment Company, a Colorado corporation,
and Philip F. Anschutz is Chairman and Director of The Anschutz
Corporation; Chairman and Director of Anschutz Company; and Director of
Anschutz Investment Company.   Anschutz owns 100% of the outstanding common
stock of Anschutz Company, Anschutz Company owns 100% of the outstanding
common stock of The Anschutz Corporation, and The Anschutz Corporation
owns 100% of the outstanding common stock of Anschutz Investment Company.

On February 15, 2000, the effective date of the confirmed Chapter 11
Bankruptcy plan of reorganization for Forcenergy, The Anschutz Corporation
acquired beneficial ownership of 6,489,288 shares of common stock of the
company, of which 6,488,356 shares are owned directly and 932 shares are
owned indirectly through Anschutz Investment Company, The Anschutz
Corporation's wholly owned subsidiary.  Prior to confirmation of the plan,
The Anschutz Coroporation directly acquired $105,311,000 in the company's
subordinated debt and indirectly acquired 23,300 shares of the company's
common stock through Anschutz Investment Company.  $47,256,000  of the
subordinated debt was from the company's 8.5% Senior Subordinated  Notes
and the remaining $58,055,000 was from the company's 9.5% Senior
Subordinated Notes.  All of the debt and shares were acquired for
investment purposes.

Under the plan, The Anschutz Corporation acquired 6,017,776 shares of the
company's common stock, as reorganized, for the $105,311,000 in
subordinated debt claims.  In addition, The Anschutz Corporation committed
to exercise rights to purchase warrants for 470,580 shares of the company's
common stock, as reorganized, at $10.00 per share. Also under the plan,
Anschutz Investment Company received 932 shares of the company's common
stock, as reorganized, for Anschutz Investment Corporation's interests
represented by the 23,300 shares of the company's common stock Anschutz
Investment Company had acquired prior to the company's bankruptcy filing.

GARDEN BOTANIKA: Extension of Exclusivity, February Sales
Garden Botanika, Inc. (OTCBB:GBOT), the Redmond-based cosmetics and
personal care products company, announced that, with the support of the
Company's Creditors' Committee, the U.S. Bankruptcy Court has entered an
order approving the Company's proposal to extend the exclusivity period for
the filing a plan of reorganization until March 1, 2001, provided that, if
the Company were to file a plan during the exclusivity period, the
Committee would also have the right to file a competing plan.

Garden Botanika also reported comparable store sales for February (the
four-week fiscal period ended February 26, 2000). Comparable store sales
decreased 3% from sales in February of 1999 for the 109 stores open at
least one complete fiscal year. Total sales declined to $3.2 million from
$5.5 million in the prior year, primarily due to a decrease in the number
of stores from 249 to
110. For the month, combined mail order and Internet sales were $163,000,
and the Company recognized $210,000 in revenue from sales of annual
memberships in the Company's discount shopping "Garden Club" program, which
membership sales are amortized over the course of a year. During the month,
the Company also had
commercial sales of $66,000.

Garden Botanika markets botanically based cosmetic and personal care
products through its 110 stores across the U.S., through its own catalog
and on the Internet. The Company's headquarters are located at 8624-154th
Avenue NE, Redmond, Washington 98052, and its Web site address is

GENICOM: Donnellan/Glass & Assoc. Appointed President and CEO
GENICOM Corporation today announced that Shaun Donnellan has been appointed
President and Chief Executive Officer of the Company, replacing Paul T.
Winn. James C. Gale, who has been serving as the Company's Senior Vice
President and Chief Financial Officer, is also being replaced.  In
addition, the Company stated that its lender group had released an amount
sufficient to fund the
Company's payroll for March 3, 2000. As previously announced, since
February 25, 2000, when it gave the Company formal notice of default under
the credit facility, the lender group has been exercising its offset rights
against the Company's operating accounts.

Mr. Donnellan is a principal of Glass & Associates, Inc. (Glass), one of
the nation's leading turnaround management consulting firms.  Glass has
been serving as a consultant to GENICOM, and as a result, Mr. Donnellan is
familiar with the operations of the Company.
GENICOM Corporation is a global provider of integrated network solutions,
multivendor services and printer solutions focusing on the midrange,
client/server market.  Its Document Solutions company (DSC) designs and
markets a wide range of high-performance serial matrix, line matrix, page,
and travel
industry printers, along with a complementary line of supplies, parts and

GENICOM's Enterprising Service Solutions company (ESSC) provides
comprehensive IT solutions supporting emerging technologies such as
Internet security, e-commerce, xDSL, cable modem, voice data and their
related equipment.   ESSC also delivers traditional support services
including consulting, Help Desk, internetworking services and multivendor
on-site product repair.

GENICOM is headquartered within metropolitan Washington, D.C.  For more
information on the Company and its portfolio of enterprise printer and
service solutions, access the GENICOM home page on the World Wide Web at

GENICOM: Seeking Financing; Bankruptcy Possibility
According to a report in The Washington Post on March 6, 2000, Troubled
network integrator and high-end printer maker Genicom Corp. said it is
considering filing for Chapter 11 bankruptcy protection as talks with its
main lenders went on last week.

Genicom has been in default since last fall on its credit agreements with a
group of banks led by Bank of America. Tuesday the company got a formal
notice from Bank of America that the debt was due.

The company said it was trying to line up new financing, but could give no
assurances that Genicom "will be able to continue as a going concern."

GOLDEN OCEAN: Taps Zolfo Cooper as Bankruptcy Consultants
The debtors, Golden Ocean Group Limited, et al., seek authority to employ
Zolfo Cooper, LLC as bankruptcy consultants and special financial advisors
to the debtors.

It is presently anticipated that ZC will provide the following services:

Advise and assist the debtors in forecasting, planning, controlling and
other aspects of managing cash, and , if necessary, obtaining DIP financing;

Advise and assist management in organizing the debtors' resources and
activities so as to effectively and efficiently plan, coordinate and manage
the Chapter 11 process and communicate with customers, lenders, suppliers,
employees, shareholders and other parties in interest;

Assist management in designing and implementing programs to manage or
divest assets, improve operations, reduce costs and restructure as
necessary with the objective of rehabilitating the business;

Advise the debtors concerning interfacing with Official Committees, other
constituencies and their professionals, including the preparation of
financial and operating information required by such parties and/or the
Bankruptcy Court;

Advise and assist management in the development of a plan of reorganization
and underlying business plan, including the related assumptions and
rationale, along with other information to be included in the Disclosure

Advise the debtors with respect to resolving disputes and otherwise
managing the claims process;

Advise and assist the debtors  in negotiating a plan of reorganization with
various creditor and other constituencies;

As requested, render expert testimony concerning the feasibility of a plan
of reorganization and other matters that may arise in the case; and

Provide such other services as may be required by the debtors.

GREAT TRAIN: Case Summary and 20 Largest Unsecured Creditors
Debtor: The Great Train Store Company
        14180 Dallas Parkway, Suite 618
        Dallas, TX 75240

Type of Business: Holding company that indirectly owns a partnership that
owns and operates a national chain of unique, upscale specialty retail
stores that offer a broad selection of train-themed merchandise not
generally available from any other single retailer.

Petition Date: February 28, 2000  Chapter 11

Court: District of Delaware

Bankruptcy Case No.: 00-01301

Judge: Roderick R. McKelvie

Debtor's Counsel: Laura Davis Jones
                  919 North Market Street, Suite 1600
                  PO Box 8705
                  Wilmington, DE 19899-8705
                  (302) 652-4100

Total Assets: $ 16,461,256
Total Debts:  $ 11,637,991

20 Largest Unsecured Creditors

Kalmbach Publishing                $ 65,660
Schylling Associates, Inc.         $ 70,941
STU Marshall                       $ 71,591
Random House, Inc.                 $ 71,912
Walthers                           $ 99,088
New Bright Industries             $ 102,445
Brio-Scanditoy                    $ 126,896
Heartland Hobby                   $ 149,637
Model Power                       $ 172,542
ERTL                              $ 172,543
Bachman                           $ 175,547
Travelers Insurance               $ 181,867
LGB of America                    $ 187,734
LTC                               $ 223,539
International Plaything           $ 228,482

Countertop Video Corp.
PO Box 3520
Redmond, WA 98073-3520
425-895-9811                      $ 263,931

Eco Leasing
1415 Boston Post Road
Larchmont, NY
914-834-9007                      $ 277,399

Lionel Trains
50626 Richard West
Chestrefield, MI 48051            $ 512,393

Learning Curve Toys
500 Church Street,
Suite 200
Nashville, TN 37219
615-252-4513                      $ 981,271

500 Church St
Suite 200
Nashville, TN 37219
615-252-4513                   $ 3,000,000

HARVARD INDUSTRIES: Annual Meeting Set for March 15
Stockholders are being invited to attend Harvard Industries' annual meeting
on March 15, 2000. The meeting will begin promptly at 10:00 a.m. at
Sommerset Hills Hotel, 200 Liberty Corner Road, Warren, NJ.

At the meeting there will be a current report on the activities of the
corporation followed by discussion and action on the matters described in
the Proxy Statement. Shareholders will have an opportunity to comment on or
to inquire about the affairs of the corporation that may be of interest to
shareholders generally.

Copies of the Proxy Statement may be found at the Internet,
free of charge.

HOGIL PHARMACEUTICAL: Last Day To File Proofs of Claim
By order of the US Bankruptcy Court, Southern District of New York, March
31, 2000 has been fixed as the last date to file proofs of claim or interest.

IRIDIUM: McCaw In and Now Out
Eagle River Investments LLC, telecommunications pioneer Craig McCaw's
investment management firm, today announced that it will no longer pursue
an investment in Iridium LLC, which offers narrowband global voice and
paging services. Eagle River instead will focus its satellite
communications investments on data-centric companies, such as ICO Global
Communications and Teledesic LLC.

"With the powerful influence of the Internet on global communications,
we've made a strategic decision to focus our resources and attention on the
satellite-based data services that ICO and Teledesic can provide," said
Dennis Weibling, president of Eagle River. "After careful examination of
Iridium's technologies, we determined that there are closer synergies
between ICO and Teledesic and the services they will provide customers

London-based ICO is building a global, mobile Internet Protocol-based voice
and data service. Teledesic will deliver broadband data and value-added
services at significantly higher data rates over a global network also
optimized for IP. Iridium LLC, which launched service in 1998, offers
global voice and paging services through its constellation of 66
low-Earth-orbit satellites. In recent months, Teledesic has been working to
support Craig McCaw's plans to acquire the assets of ICO. ICO, which is
expected to go into service in 2002, sought Chapter 11 bankruptcy
protection last August shortly after Iridium LLC also filed for
bankruptcy protection.

In October 1999, Eagle River Investments LLC, McCaw's investment management
company, agreed to lead a group of investors that will provide up to $1.2
billion to ICO to enable the company to emerge from bankruptcy. On Feb. 4,
Eagle River completed a definitive agreement to proceed and initiated a
$275 million second round investment in ICO.

On Feb. 17 in separate proceedings, the U.S. Bankruptcy Court for the
Southern District of New York approved $5 million in interim financing for
Iridium from Eagle River and Motorola to finance Iridium's operations
through March 6. Eagle River this week completed its due diligence on
Iridium LLC.

McCaw is the chairman and CEO of Eagle River Investments LLC, through which
he holds his interests in Teledesic LLC, ICO Global Communications,
NEXTLINK Communications Inc. and Nextel Communications Inc. McCaw also is
Teledesic's chairman and co-CEO. He and Microsoft founder Bill Gates are
the company's two
primary founding investors. Teledesic is the first licensed satellite
communications network that will enable affordable, worldwide access to
advanced telecommunications services such as computer networking, broadband
Internet access and interactive multimedia.

IRIDIUM: Remains Committed To Sale
Iridium LLC learned yesterday that Craig McCaw's Eagle River Investments
LLC would not submit a purchase proposal for Iridium's assets as previously

Iridium remains committed to a sale of its assets and is aggressively
pursuing other potential qualified buyers.  At the Company's request, the
U.S. Bankruptcy Court for the Southern District of New York postponed the
hearing scheduled for today.

"We have received expression of interest from other potential buyers," said
Iridium COO Randall Brouckman. "Much attention has been afforded the
potential McCaw bid. Now that he has clarified his intentions, we believe
that the quality of our system and the value of our assets should attract
additional qualified proposals."

Iridium LLC filed for Chapter 11 bankruptcy protection on August 13, 1999.

Iridium LLC became the world's first global satellite phone and paging
company on November 1, 1998. Its network of 66-low earth orbiting
satellites combined with existing terrestrial cellular systems enables
customers to communicate around the globe. Iridium World Communications,
Ltd. (IRIDQ) is the public investment vehicle of Iridium LLC.

Iridium is a registered trademark and service mark of Iridium IP LLC.

LUMENYTE: Last Date To File Proofs of Claim and Interest
The US Bankruptcy Court for the Central District of California, Santa Ana
Division entered an order fixing May 1, 2000 as the last date for filing
proofs of claim.

METROTRANS: Order Fixes Bar Date
Each creditor and party in interest who seeks to prove a claim against the
debtors, Metrotrans Corporation and Bus Pro, Inc.
Shall file a proof of claim on or before May 1, 2000.

NATIONSWAY: Files Disclosure Statement and Plan
The Debtors, Nationsway Transport Service, Inc. and its debtor affiliates
have filed with the Court the following document(s): Joint Chapter 11 Plan
of Reorganization Proposed by the Official Committee of Unsecured Creditors
and the Debtors, Dated March 1, 2000; Disclosure Statement Accompanying
Plan of Reorganization Proposed by the Official Committee of Unsecured
Creditors and the Debtors, Dated March 1, 2000; and Notice of Bar Date
(Negative Notice)/Notice of Hearing on Disclosure Statement and
Accompanying Joint Plan of Reorganization Proposed by the Official
Committee of Unsecured Creditors and the Debtors, Dated March 1, 2000.

You may obtain a copy of the pleading(s) by accessing the Bankruptcy
Court's website at

A hearing to consider the approval of the Disclosure Statement shall be
held at the US Bankruptcy Court, 2929 North Central Avenue, 10th Floor,
Courtroom, 4, Phoenix, Arizona, on march 29, 2000 at 11:00 AM.

The plan proposes the orderly liquidation of all of the assets of the
debtors, most of which have already been sold as of the date of the plan.
Since the debtors are continuing to sell assets, additional assets may be
sold prior to the Confirmation Date and/or prior to the Effective Date of
the plan.  The proceeds of asset sales, as well as any proceeds derived
from the operation and ownership of the assets, will be paid to creditors
in satisfaction of their claims in accordance with the priority scheme set
forth in the Bankruptcy Code.

The plan will be implemented through the establishment of a Distribution
Fund and the appointment of a Liquidating Agent, who will be appointed
pursuant to the order confirming the plan.  

The Class 5 claims will be all claims which comprise the BofA Secured
Claim.  BofA shall share pro rata in 65% of all remaining funds in the
Distribution Fund after payment of Allowed Administrative Claims, the
funding of the Committee Administration Fund and the payment of Class 6 and
Class 7 claims in accordance with the plan.  

The class 6 claims will be all claims which comprise the Mercedes Secured
Claim.  Class 6 claims shall be paid the lesser of $50,000 or the actual
amount of the claimant's attorneys' fees and costs.

A hearing on confirmation of the plan will be held at the US Bankruptcy
Court, 2929 North Central, Courtroom #5, 10th Floor, Phoenix, Arizona,
commencing on May 16, 2000.

Debtor: North American Energy Conservation, Inc.
        280 Park Avenue
        New York, NY 10017

Type of Business: Is engaged in the marketing of natural gas at both the
wholesale and retail level.

Petition Date: March 2, 2000   Chapter 11

Court: Southern District of New York

Bankruptcy Case No.: 00-40563

Judge: Prudence Carter Beatty

Debtor's Counsel: Nicholas F. Kajon (NK-1096)
                  Salomon Green & Ostrow, PC
                  919 Third Avenue
                  New York, NY 10022-3904
                  (212) 319-8500
                  Fax: (212) 319-8585

Total Assets:  $ 94,759,912
Total Debts:  $ 121,975,860

20 Largest Unsecured Creditors

TXU/Ensearch Energy
Attn: Robert Crenshaw
680 Andersen Drive
Pittsburgh, PA 15220
(412) 920-0800            trade debt     $ 12,842,744

El Paso Energy Mktg Co.
Attn: Hillary Mack
1001 Louisiana Street
Houston, TX 77002
(713) 420-5375            trade debt      $ 7,969,329

CNG Transmission Field Service
Attn: Amy Lamm
445 West Main Street
Clarksburg, WV 26301
(304) 623-8815            trade debt      $ 5,504,224

Marathon Oil
Attn: Linda Brown
539 South Main
Findlay, OH 45840
(419) 421-2457            trade debt      $ 5,167,383

Con Edison Solutions
Attn: Gas Accounting
701 Westchester Ave., Ste 201W
White Plains, NY 10604
(914) 286-7000            trade debt      $ 4,392,705

Aquila Energy Mktg Corpor
Attn: Accounting Dept.
2533 North 117th Ave., Ste 200
Omaha, NE 68164-8618
(402) 498-4490            trade debt      $ 4,036,025

Altrade Transaction LLC
Attn: Accounts Payable
801 6th Avenue, Suite 1950
Calgary, AB T2P 3W2 Canada
(403) 290-0070            trade debt      $ 3,645,742

Long Island Lighting Co.
Attn: Barry Feigenbaum
100 East Old Country Road
Hicksville, NY 11801
(516) 545-5457            trade debt      $ 2,974,600

Columbia Energy Services Corp.
Attn: Rashid Siddiqi
1330 Post Oak Blvd., 20th Flr.
Houston, TX 77056
(713) 693-2558            trade debt      $ 2,621,635

Southern Co. Energy Market
1155 Perimeter Center West
Suite 130
Atlanta, GA 30338-5416
Reg Goldie
(678) 579-5169            trade debt      $ 2,364,303

PG & E Energy Trading
Attn: Priscilla Hamic
1100 Louisiana, Suite 1000
Houston, TX 77002
(713) 371-6164            trade debt      $ 2,086,500

Statoil Energy, Inc.
Attn: Gloria Uria
2800 Eisenhower Avenue
Alexandria, VA 22314
(713) 317-2300            trade debt      $ 1,937,705

Enron Capital & Trade Resource
PO Box 1188, Level 37
Houston, TX 77251-1188
Jeff Westover
(713) 853-7500            trade debt      $ 1,303,806

Delmarva Power & Light
Attn: Bernadette Dowling
Energy Trading Dept., Box 6066
Newark, DE 19714-6066
(302) 452-6150            trade debt      $ 1,239,604

Encina Gas Mktg Company
Attn: Accounts Payable
710 Buffalo, Suite 501
Corpus Christi, TX 78401
(512) 883-7473            trade debt      $ 1,193,437

Western Gas Resources, Inc.
Attn: Gas Marketing
12200 North Pecos Street
Denver, CO 80234
(303) 457-9748            trade debt      $ 1,082,039

Williams Energy Svcs Co.
Attn: WESCO Accounting
PO Box 2848, Acctg, Trade
Tulsa, OK 74101-9567
(918) 573-5139            trade debt        $ 582,950

Occidental Energy Marketing
Attn: Allen Brown
PO Box 27570
Houston, TX 77227-7520
(713) 215-7084            trade debt        $ 487,356

Attn: Jeff Westover
111 Monument Ctr., Suite 2200
Indianapolis, IN 46204
Kurth Hribernik
(317) 231-6800            trade debt        $ 403,100

New Jersey
Natural Energy Co.        trade debt        $ 132,750

POCKET COMMUNICATIONS: US Objects To Disclosure Statement
The United States, on behalf of itself and the FCC objects tot he joint
Disclosure statement connected with the November 24, 1999 Joint Plan of
Reorganization proposed by Pocket and the Lenders.

The US Claims that the disclosure statement does not adequately disclose
the Litigation Risk connected wit the fraudulent conveyance claim against
the FCC.

The US States that the Disclosure Statement substantially overstates the
likelihood of success in the FCC litigation, that it is defective because
it fails to mention the risk that the New and Pittsburg Licenses may cancel
for non-use, that the Disclosure statement fails to adequately disclose
events suggesting that the New and Pittsburg Licenses are worth far more
than the $27 million value assigned in the Disclosure Statement.  

The US objects that the Disclosure Statement provides inadequate
information regarding the lenders' secured and unsecured claims; and that
the Disclosure Statement, like the plan, improperly fails to distinguish
DCR's bankruptcies from that of Pocket.

PRIMARY HEALTH SYSTEMS: Announces Agreement with Cleveland Clinic
Primary Health Systems, Inc. ("PHS") today announced that it is phasing out
operations at Mt. Sinai Medical Center-East in Richmond Heights and St.
Michael Hospital. The two hospitals will cease accepting new admissions
immediately and emergency room departments at both locations will shut down
within 48 hours. The hospitals are expected to close on or about March 31,

Concurrently, PHS announced that it has entered into an agreement to sell
the Mt. Sinai Integrated Medical Campus ("IMC") in Beachwood to the
Cleveland Clinic Foundation. The agreement also specifies that the
Cleveland Clinic will assume ownership of the buildings that currently
house Mt. Sinai-East and St. Michael. No decision has yet been reached as
to the ultimate use of the two closed facilities. The transaction is
subject to approval by the Bankruptcy Court presiding over the PHS Chapter
11 case.

The transaction anticipates that the Cleveland Clinic will continue to
operate the IMC as a state-of-the-art ambulatory surgery center and
physician office complex. The Clinic will honor existing lease agreements
with independent physician practices currently located at the IMC.

The last of the PHS facilities, Deaconess Hospital, remains open and
continues to provide quality medical care to its patients and community.
PHS stated that it is exploring various options for Deaconess, all of which
are intended to maintain it as a fully operational hospital.

As was the case with the recent closing of Mt. Sinai Medical
Center-University Circle, the closing process at Mt. Sinai-East and St.
will proceed in an orderly manner until all patients either complete their
treatments or are transferred to other area medical facilities. Also,
several support departments that serve the PHS-Mt. Sinai health care system
but are located at the IMC, including radiology, physical therapy,
laboratory services and administrative support services, will be closed
prior to the sale.

Dennis I. Simon, managing principal of Crossroads LLC, which has been
managing the PHS system since mid-1998, stated, "We are pleased to have
concluded an agreement that will transfer ownership of the IMC and the Mt.
Sinai-East and St. Michael buildings to the Cleveland Clinic. In the
judgment of the PHS Board of Directors, this transaction also maximizes the
value of the estate. We are committed to managing the transition of the
facilities in a compassionate and orderly manner that maximizes quality of
patient care."

PHS management will work with area agencies, including the City of
Cleveland, to provide job placement assistance for employees whose
positions are eliminated as a result of the Mt. Sinai-East and St. Michael

Primary Health Systems, Inc. continues to operate under the protection of
Chapter 11 of the U.S. Bankruptcy Code, as it has since March 1999.

PRIMARY HEALTH SYSTEMS: Closing Two More Stores in Cleveland Area
Primary Health Systems Inc. said today it will close two more of its
hospitals in the Cleveland area, eliminating 800 jobs.

St. Michael Hospital in Cleveland and Mt.  Sinai Medical Center-East, in
the suburb of Richmond Heights, are no longer taking new admissions, and
their emergency rooms will close by Wednesday.

Mount Sinai Medical Center in Cleveland, which also was a PHS hospital, and
Bethesda Oak in Cincinnati closed last month.

Since last March, the for-profit PHS has been operating under Chapter 11 of
the U.S. bankruptcy code, which allows for protection from creditors'
claims during reorganization.

Dennis I. Simon, manager of Crossroads LLC, which has managed the PHS
system since 1998, said the Cleveland Clinic Foundation is buying St.
Michael and Mt. Sinai-East, as well as the PHS Mt. Sinai Integrated Medical
Campus in Beachwood, a Cleveland suburb. Terms were not disclosed.

The medical office building will remain open, but there are so far no plans
for the two hospital buildings, according to PHS.

Cleveland Clinic spokesman Scott Tennant said today the hospital had no
immediate comment on the PHS announcement.

SIERRA-ROCKIES: Agrees to Purchase Complete
Sierra-Rockies Corporation (OTC Bulletin Board: SIRK) announced today that
it has entered into a Letter of Intent to purchase all of the assets of
Complete, a Media/Internet company.  Daniel Lezak, President of
SIRK stated that this will be a purchase of all of the assets being
acquired by Equine Holdings LLC in their takeover of this website and
related TV production. Equine is paying a total of $1,325,000 for these
assets and their payment is based upon an evaluation by independent
auditors.  Lezak stated that SIRK is making this purchase, subject to Court
approval, with forty (40) percent of the Units that are expected to be
approved in SIRK's Chapter 11 Proceeding. Furthermore, Lezak stated, the
letter of intent calls for Equine to make an additional investment of
approximately $500,000 to the reorganized venture, which initially would be
a loan approved by the Court.  He further indicated that the purchase would
be completed as part of the Plan of Reorganization of SIRK in it's Chapter
11 Reorganization Process.

SIRK plans to file it's revised Plan of Reorganization in the month of
March 2000.  This acquisition would be finalized by then and the details
would be made public at that time.  Generally, Lezak stated, this will
involve a change of control of SIRK with new management that will be
brought in by the Internet company.  The letter of intent calls for a
reverse split of the existing shares with one new Unit being issued for
each twenty five shares held.  The Units will consist of common stock and
warrants.  The balance of the proposed Plan of Reorganization will be
established and reported upon approval by the Court of the required
Disclosure Document.

The diligence effort of SIRK has determined that Complete Rider is a .com
business which combines TV programming, print and the Internet to
capitalize on the $15 Billion niche, virtually untapped Equine market.  The
existing TV series, which is part of the purchase, is profitable and growing.

STARMET: Special Meeting Set In Lieu Of Annual Meeting
Starmet Corporation will be holding a special meeting, in lieu of the
annual meeting of the stockholders, on March 22, 2000 at 10:00 a.m. at
State Street Bank and Trust Company, 225 Franklin Street, Boston,
Massachusetts for the followingpurposes:

1.  To elect Board of Directors for the ensuing year.

2.  To consider and act upon a proposal to ratify the selection of the firm
of BDO Seidman, LLP as independent auditors for the
company for the fiscal year ending September 30, 2000.

3.  To transact other business which may arise.

Only stockholders of record at the close of business on February 22, 2000
are entitled to receive notice of, and to vote at, the meeting.

TOWER AIR:  El Al Interested In Possible Investment
Israel's national airline El Al will hold talks this week with troubled US
airline Tower Air which could lead to a possible investment, El Al
spokesman Nachman Klieman said.

He said discussions with Tower, which filed for Chapter 11 bankruptcy
protection in February, would cover "cooperative agreements, possible
partnership or investment of El Al in the company."

However, Klieman told AFP the talks, due to get underway in New York on
Tuesday, were at their early stages.

The Haaretz newspaper reported on Friday that El Al was considering buying
10 percent of Tower but that because it is state-owned it would require
government approval for any purchase or partial acquisition of a foreign

It already has a stake in New York-based North American Airlines.

VENCOR: Application to Employ Blackstone as Investment Bankers
Judge Walrath granted the Debtors' Motion to retain The Blackstone Group,
L.P., as their investment bankers.  The Debtors need an investment banker
with Chapter 11 experience to negotiate a reorganization plan.  Blackstone
will provide the following services to the Debtors:

a) Evaluating the Debtors' businesses and their prospects;

b) Analyzing the Debtors' long-term business plan;

c) Valuing the Debtors' separate businesses;

d) Evaluating alternative capital structures or reorganization plans;

e) Providing strategic advice on restructuring or refinancing

f) Participating in negotiations with the Debtors, their advisors,   
    their creditors, and other interested parties; and

g) Providing expert witness testimony.

Blackstone will be paid a monthly advisory fee of $150,000 per month.  In
addition, Blackstone will be paid a fee of $1,500,000 upon confirmation of
a reorganization plan for all of the Debtors. All monthly fees paid to
Blackstone up to but not in excess of the $1,500,000 will be credited
against the confirmation fee.  

The following Blackstone professionals will work for the Debtors: Timothy
R. Coleman, Senior Managing Director; Steven M. Zelin, Managing Director;
Shervin Korangy, Associate; and Jason Perri, Analyst.            

VENCOR: To Amend DIP Financing
Vencor, Inc. has agreed with its lenders to amend the company's $100
million debtor-in-possession financing to extend its maturity until June
30, 2000. The amendment also revises certain financial covenants and
permits the company to seek an extension of the period of time to file its
plan of reorganization. The United States Bankruptcy Court for the District
of Delaware must approve the amendment. The hearing on the amendment is
scheduled for March 10, 2000.

The DIP Financing and existing cash flows will be used to fund the
company's operations during its restructuring.  As of February 25, 2000,
the company had no outstanding borrowings under the DIP Financing.

Vencor and its subsidiaries filed voluntary petitions for reorganization
under Chapter 11 with the Court on September 13, 1999.

Vencor, Inc. is a national provider of long-term healthcare services
primarily operating nursing centers and hospitals.

WHIRLAWAY FROCKS: Case Summary and 20 Largest Unsecured Creditors
Debtor: Whirlaway Frocks, Inc.
        237 West 35th Street
        New York, NY 10001

Type of Business: Is engaged in the manufacture and distribution of ladies
apparel. The Debtor specializes in women's casual and maternity dress. The
Debtor sells its merchandise to large retailers such as K-Mart, Sears and
JC Penny.

Petition Date: March 2, 2000   Chapter 11

Court: Southern District of New York

Bankruptcy Case No.: 00-40564

Judge: Burton R. Lifland

Debtor's Counsel: Alex Spizz
                  Alex Spizz, Esq./Scott S. Markowitz, Esq.
                  Todtman, Nachamie, Spizz & Johns, PC
                  425 Park Avenue
                  New York, NY 10022
                  (212) 754-9000

                  Scott S. Markowitz
                  Todtman, Nachamie, Spizz & Johns, PC
                  425 Park Avenue
                  New York, NY 10022
                  (212) 754-9000
                  Fax:(212) 754-6262

Total Assets: $ 8,610,200
Total Debts:  $ 9,281,000

20 Largest Unsecured Creditors

Cameron Industries Inc.
c/o Heller Financial/CIT
1211 Ave. of the Americas
New York, NY 10036
Michael Shutowick
(212) 382-7057                trade debt   $ 256,539

Double E Textile              trade debt   $ 182,296
Metro Fabrics                 trade debt   $ 155,772
J&M Textiles Co.              trade debt    $ 98,989
Charger-Too Div. of Swafin
Fabrics                       trade debt    $ 97,429
Allante Fabrics/Sov. Bank     trade debt    $ 81,454
Hargro Fabrics, Inc.          trade debt    $ 78,197
Matrix Int'l                  trade debt    $ 75,510
Allante Fabrics/First Union   trade debt    $ 75,451
Shamash & Sons                trade debt    $ 67,940
Hargro Fabrics                trade debt    $ 64,145
Mark Fabrics, Inc.            trade debt    $ 61,697
Hargro Fabrics, Inc.          trade debt    $ 57,728
Brango/WAF Group, Inc.        trade debt    $ 46,594
Kronfli Spundal               trade debt    $ 45,894
Duet Textiles Inc.            trade debt    $ 46,556
MS Textiles/The CIT Grp       trade debt    $ 46,483
B&R Textile Corp/The CIT Grp  trade debt    $ 45,985
Block Fashion Fabrics/Finova
Capital Corp                  trade debt    $ 44,557
DT&Co./Div.Hargro             trade debt    $ 38,019

Meetings, Conferences and Seminars
February 27-March 1, 2000
      Norton Bankruptcy Litigation Institute I
         Olympic Park Hotel, Park City, Utah
            Contact: 1-770-535-7722

March 2-5, 2000
      1st Annual Winter Conference
         Radisson Resort Hotel, Scottsdale, Arizona
            Contact: 1-561-241-7301 or 1-213-487-7550

March 8-10, 2000
      Healthcare Restructurings: Successful Strategies
      for Managing Distressed Finances
         The Regal Knickerbocker Hotel, Chicago, Illinois
            Contact: 1-903-592-5169 or   
March 10, 2000
      Bankruptcy Battleground West
         Century Plaza Hotel. Los Angeles, California
            Contact: 1-703-739-0800

March 10 & 11, 2000
      Spring Seminar
         Hotel Monteleone, New Orleans, Louisiana
            Contact: 1-803-252-5646 or

March 23-25, 2000
      26th Annual Southeastern Bankruptcy Law Institute
         Marriott Marquis Hotel, Atlanta, Georgia
            Contact: 1-770-451-4448

March 23-25, 2000
      Partnerships, LLCs, and LLPs -- Uniform Acts,
      Taxation, Drafting, Securities and Bankruptcy
         Doubletree Paradise Valley Hotel,
         Scottsdale, Arizona
            Contact: 1-800-CLE-NEWS

March 30-April 2, 2000
      Norton Bankruptcy Litigation Institute II
         Flamingo Hilton Hotel, Las Vegas, Nevada
            Contact: 1-770-535-7722

April 3-4, 2000
      22nd Annual Current Developments in
      Bankruptcy and Reorganization Conference
         PLI Conference Center, New York, New York
            Contact: 1-800-260-4PLI

April 5-8, 2000
      Spring Meeting
         The Pointe Hilton Squaw Peak Resort
         Phoenix, Arizona
            Contact: 1-312-822-9700 or
April 6-7, 2000
      Commercial Securitization for Real Estate Lawyers
         Walt Disney World, Orlando, Florida
            Contact: 1-800-CLE-NEWS

April 10-11, 2000
      22nd Annual Current Developments in
      Bankruptcy and Reoorganization Conference
         Grand Hyatt Hotel, San Francisco, California
            Contact: 1-800-260-4PLI

April 27-30, 2000
      Annual Spring Meeting
         J.W. Marriott, Washington, D.C.
            Contact: 1-703-739-0800

May 4-5, 2000
      Bankruptcy Sales & Acquisitions
         The Renaissance Stanford Court Hotel
         San Francisco, California
            Contact: 1-903-592-5169 or   

May 15, 2000
      2nd Annual New York City Bankruptcy Conference
         Association of the Bar of the City of New York,
         New York, New York
            Contact: 1-703-739-0800

May 26-29, 2000
      52nd Annual Meeting of the New England Region
         Colony Hotel, Kinnebunkport, Maine
            Contact: 1-617-742-1500 or

June 8-11, 2000
      7th Annual Central States Bankruptcy Workshop
         Grand Traverse Resort, Traverse City, Michigan
            Contact: 1-703-739-0800
June 14-17, 2000
      16th Annual Bankruptcy and Restructuring Conference
         Swissotel, Chicago, Illinois
            Contact: 1-541-858-1665 or

June 29-July 2, 2000
      Western Mountains Bankruptcy Law Institute
         Jackson Lake Lodge, Jackson Hole, Wyoming
            Contact: 1-770-535-7722

July 13-16, 2000
      7th Annual Northeast Bankruptcy Conference
         Doubletree Hotel, Newport, Rhode Island
            Contact: 1-703-739-0800
July 21-24, 2000
   National Association of Chapter 13 Trustees
      Annual Seminar
         Adams Mark Hotel, St. Louis, Missouri
            Contact: 1-800-445-8629 or

August 3-5, 2000
      Fundamentals of Bankruptcy Law
         Somewhere in Boston, Massachusetts
            Contact: 1-800-CLE-NEWS

August 9-12, 2000
      5th Annual Southeast Bankruptcy Workshop
         Hyatt Regency, Hilton Head Island, South Carolina
            Contact: 1-703-739-0800

August 14-15, 2000
      Advanced Education Workshop
         Loews Vanderbilt Plaza, Nashville, Tennessee
            Contact: 1-312-822-9700 or
September 12-17, 2000
         Doubletree Resort, Montery, California
            Contact: 1-803-252-5646 or

September 15-16, 2000
      Views From the Bench 2000
         Georgetown University Law Center, Washington, D.C.
            Contact: 1-703-739-0800

September 21-22, 2000
      3rd Annual Conference on Corporate Reorganizations
         The Regal Knickerbocker Hotel, Chicago, Illinois
            Contact: 1-903-592-5169 or   

September 21-23, 2000
      Litigation Skills Symposium
         Emory University School of Law, Atlanta, Georgia
            Contact: 1-703-739-0800

September 21-24, 2000
      8th Annual Southwest Bankruptcy Conference
         The Four Seasons, Las Vegas, Nevada
            Contact: 1-703-739-0800

November 2-6, 2000
      Annual Conference
         Hyatt Regency, Baltimore, Maryland
            Contact: 312-822-9700 or

November 30-December 2, 2000
      Winter Leadership Conference
         Camelback Inn, Scottsdale, Arizona
            Contact: 1-703-739-0800

The Meetings, Conferences and Seminars column appears
in the TCR each Tuesday.  Submissions via e-mail to are encouraged.  


S U B S C R I P T I O N   I N F O R M A T I O N
Troubled Company Reporter is a daily newsletter, co-published
by Bankruptcy Creditors' Service, Inc., Trenton, NJ, and Beard
Group, Inc., Washington, DC. Debra Brennan, Yvonne L. Metzler,
Edem Alfeche and Ronald Ladia, Editors.

Copyright 2000.  All rights reserved.  ISSN 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without
prior written permission of the publishers.  Information
contained herein is obtained from sources believed to be
reliable, but is not guaranteed.

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are $25 each. For subscription information, contact Christopher
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