TCR_Public/000809.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, August 9, 2000, Vol. 4, No. 155

                               Headlines

AG FINANCIAL: FBI Probes Former Employee's Orders to Shred Loan Documents
ALYN CORP: Boralyn Metal Manufacturer Files Chapter 7 Liquidation
BIG PARTY: Seeks Approval for Sale of Assets
BRIGHT SUN: Case Summary and 20 Largest Unsecured Creditors
CLARIDGE HOTEL: Committee Asks U.S. Bancorp Libra to Help Market Casino

COLONIAL DOWNS: Virginia Race Track To Close OTB Parlors
COMMERCIAL FINANCIAL: Jenner & Block Asks to Represent Both Debtor & Creditor
CREDITRUST CORP: Shareholders Initiate Class Action Suit Against Officers
EDISON BROTHERS: Cases Convert to Chapter 7 & Aug. 21 341 Meeting Scheduled
ELDER-BEERMAN: 5.5% Shareholder D3 Family Fund Losing Patience With Management

GOLDEN BOOKS: Second Quarter Results Show Convalescence  
GOLDEN OCEAN: Bentley to Support Frontline's Reorganization Plan for Carrier
GREAT TRAIN: Clear Disclosure that Shareholders Won't Recover Anything
HAGERSTOWN FIBER: Trustee and Bondholders Tap Michael Fox and Perry Videx
HOUSING RETAILER: Application to Employ Dworken Hillman as Accountants

INSILCO HOLDING: Moody's Downgrades Senior Unsecured Rating to Caa2
INTEGRATED HEALTH: Motion To Reject a Handful of Executory Contracts & Leases
LIBERTY HOUSE: JMB Realty Balks at Hawaii Retailer's Reorganization Plan
LOEWEN GROUP: Discloses Five Miscellaneous Asset Sales to Parties-in-Interest
LONDON FOG: Delaware Court Extends Sec. 365(d)(4) Deadline to November 20

MOBILE ENERGY: Files Joint Plan of Reorganization with Secured Bondholders
MONET GROUP: IBJ Whitehall Moves to Prohibit Payment of $1.25MM Break-Up Fee
MONET GROUP: Seeks Order Approving Rejection of Union Contract
MULTICARE AMC: Debtors Tap Ernst & Young as Financial Advisors
OPTEL, INC: Adelphia Communications Offers $56 Million for Cable TV Systems

OWENS CORNINGS: Fitch Downgrades Senior Unsecured Debt Rating To 'BB'
PAGING NETWORK: Metrocall Makes Pitch to File Competing Plan of Reorganization
PRIME SUCCESSION: U.S. Trustee to Convene Meeting of Creditors on September 8
PRIME SUCCESSION: Obtains Final Approval of $10 Million DIP Financing Pact
PRIME SUCCESSION: Court Schedules August 21 Disclosure Statement Hearing

QUORUM INTERNATIONAL: Case Converts to Chapter 7 Liquidation
SAFETY-KLEEN: Motion To Pay All Prepetition Permit & Licensing Fees
SANITARY SERVICES: Service Complaints Voiced about Connecticut Trash Hauler
SINGING MACHINE: New Shareholders to Consider ESOP & Decrease in Shares
SIRENA APPAREL: Deadline to Make Decisions About Leases Extended to Sept. 30

SIZZLER INTERNATIONAL: Shareholders to Elect New Directors at Aug. 30 Meeting
VERSATECH GROUP: Canadian Autoparts Maker Blames GM For Bankruptcy


                               *********


AG FINANCIAL: FBI Probes Former Employee's Orders to Shred Loan Documents
-------------------------------------------------------------------------
The Federal Bureau of Investigation is investigating American General Finance
for the alleged destruction of documents pertaining to its bankrupt
subsidiary, AG Financial Service Center Inc.  Julie Greathouse, a former
employee of the Evansville-based company, told the FBI that former AGF lead
attorney, Ron DiGiacomo, instructed her to destroy documents of the insolvent
subsidiary.  The files consisted of security documents and credit agreements
that Ms. Greathouse burned at her Posey County farm.  AGF may be liable for
$167 million if the allegations made by Ms. Greathouse prove to be true.
Greathouse's attorney, Scott Danks says, "[AGF] wants to make sure the
subsidiary company is the only party responsible."  Representing DiGiacomo,
Larry Mackey wasn't available for comment.  AG Financial attorney, John Ames
issued a written statement saying the company is investigating the
allegations.

A Mississippi judge ordered AG Financial in May 1999 to pay $167.7
million in damages to 29 people who sued the company.  That judgment accounts
for all but about $3 million of the $170 million in debts listed in AG
Financial's bankruptcy petition.  The company reported $7.2 million in assets,
press reports relate.  The files destroyed could be vital for the judgment in
the Mississippi trial.  

AG Financial filed for bankruptcy in August 1999.  It is a subsidiary of
Houston-based American General Corp.  AG Financial provides home equity and
consumer loans and has assets totaling more than $117 billion.  


ALYN CORP: Boralyn Metal Manufacturer Files Chapter 7 Liquidation
-----------------------------------------------------------------
The 10-year-old Alyn Corp., the Los Angeles Times reports, filed for Chapter 7
liquidation in the U.S. Bankruptcy Court in Santa Ana, California.  Alyn lists
assets of $22.3 million and debts of $10.6 million.  The Irvine company
suffered losses amounting to $15.2 million on $2.25 million in sales.  Alyn
would not comment to a Times reports about the recent resignations of Chairman
Robert L. Burr and Director David J. Edwards, both belonging to Fleming Asset
Management.

Marshack, Shulman, Hodges & Friedman, LLP represents the Company.  Alyn Corp.
manufactures a metal alloy considered stronger than steel and lighter than
aluminum called Boralyn.  That alloy can be applied in nuclear, aerospace,
computer hardware, aerospace, automotive and sporting goods industries.


BIG PARTY: Seeks Approval for Sale of Assets
--------------------------------------------
(Debbie's)

The Big Party, Corporation seeks court approval to conduct an auction of
the debtor's retail business operations and related properties and assets,
including the debtor's leases of real property relating to its retail stores
and other business locations.

The debtor has identified various parties who either have expressed an
interest in acquiring substantially all of the debtor's business or assets,
or as to whom the debtor believes may be interested in pursuing a transaction
with respect to the debtor.

Due to the severity of the debtor's financial difficulties, and the limited
time available, and since the debtor has not been able to finalize an
agreement with any party concerning the sale of the debtor's business or its
assets, the debtor seeks to bring this matter to a head and thereby seek to
maximize the value of the debtor's assets.

If authorized to do so, the debtor proposes to conduct the auction on or
about August 8, 2000. In the event that no qualifying bid(s) are received
at the auction, or if the debtor determines to accept a bid or bids for less
than all of the assets, the debtor further requests that it be authorized to
conduct an alternative going-out-of-business auction on or about August 8,
2000 and further conduct a hearing on or about August 11, 2000 to consider
authorizing the debtor to conduct store closing sales from the remaining
locations.

The debtors believe that good cause exists to approve the fact of, and the
terms and conditions of the auction and the GOB auction. It is the debtor's
intention to conduct both the Asset Sale and the Going-Out -Of-Business Sales
processes on parallel tracks, such that the auction and GOB auction, and the
alternative hearings to be held on the sale motion, respectively, would occur
substantially contemporaneously with one another.

The terms of the auctions are reasonable and will enable the debtor and its
creditors to realize the maximum value from the assets. The debtor believes
that the parallel alternative bidding processes will yield the highest and
best bids for the assets.


BRIGHT SUN: Case Summary and 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor:  The Bright Sun Group, Inc.
          770 Broadway
          New York, N.Y. 10013

Type of Business:  Management consulting firm specializing in corporate
                    directioning, new business ventures, intellectual         
                    property management and total marketing
                    communications.

Chapter 11 Petition Date:  August 7, 2000

Court:  Southern District of New York

Bankruptcy Case No.:  00-13607

Debtor's Counsel:  Joshua J. Angel, Esq.
                    Angel & Frankel, P.C.
                    460 Park Avenue
                    New York, New York 10022-1906
                    Tel:(212) 752-8000
                    Fax:(212) 752-8393
                    Email: jangel@angelfrankel.com

Total Assets:  $ 4,466,969
Total Debts :  $ 3,362,765

20 Largest Unsecured Creditors

Selway Partner, LLC
c/o Yaron Eitan
100 Banon Place
Totowa, NJ 07512      Loan         $ 1,000,000

American Express      Credit Card    $ 125,837

Mach 1                Consultant &
                        Production    $ 114,731

Judy Wald             Consultant &
  Partners, Inc.        Production     $ 95,900

AM Lithographers      Consultant &
  Corporation           Production     $ 91,668

John Morrison,        Consultant &
  Incorporated          Production     $ 89,000

Hall Dickler Kent     Legal
Friedman & Wood, LLP   Services       $ 64,421

Planet Limousine, LLC Car Service     $ 54,871

Jane King/Jeff        Consultant &
Alphin Risky BBQ       Production     & 45,000

Brainshop             Consultant &
                        Production     $ 44,000

ML Weisner & Co. LLP  Accountant      $ 43,414

Cherny Mermido        Consultant &
                        Production     $ 33,600

JL Media, Inc.        Consultant &
                        Production     $ 32,283

Broadcast Traffic &   
  Residuals, Inc.      Production      $ 32,090

Reiner Design
  Consultants, Inc.    Production      $ 32,010

Barasch Music & Sound Production      $ 31,874

Update Staffing       Production      $ 31,185

Antenna Designs       Production      $ 27,900

TTS Personnel, Inc.   Production      $ 27,660

Power House Exhibits  Production      $ 27,536


CLARIDGE HOTEL: Committee Asks U.S. Bancorp Libra to Help Market Casino
-----------------------------------------------------------------------
The Official Committee of Secured Noteholders in the cases of The Claridge
Hotel and Casino Corporation and the Claridge at Park Place, Incorporated
and Atlantic City Boardwalk Associates LP seeks authority to expand the
employment and retention of the Committee's Financial Advisor, US Bancorp
Libra, a division of US Bancorp Investments, Inc., to permit the marketing
for sale of the debtors and/or the assets of the estates.

Confronted with the results of voting on the plan (excluding the Icahn
interests, 93% of the dollars and 71% of the Noteholders, by number, voted to
reject), the Committee expected that the Debtors would not move forward on the
plan.  However, the Debtors have indicated that they will move forward and
intend to ask the court to cram down their Plan pursuant to Section 1129(b) of
the Bankruptcy Code, notwithstanding the Noteholders' rejection.

In preparation for a contested confirmation hearing -- currently scheduled for
September 6, 2000 -- the Committee wants Libra to value the Casino Enterprise
to counter valuation information the Debtors present in their Disclosure
Statement.

Libra tells the Committee that the best way to maximize the value of
the Casino Enterprise is to initiate an open auction process for the sale
of the enterprise to a third party.  Based on Libra's advice, the Committee
asks that the Court provide the opportunity for Libra to market the Casino
Enterprise.

Under the Engagement Letter, as compensation for arranging or inducing a
transaction that is actually consummated, Libra will earn a "success fee"
equal to .65% of the sale proceeds up to $56 million plus 5% of the sale
proceeds over $56 million.  Libra would not be entitled to a success fee for a
sale to the Icahn Interests or one of four other parties to the Engagement
Letter, unless the sale price is enhanced by Libra's efforts.

Libra believes that it can obtain a qualifying offer within four weeks and
complete a transaction within three months thereafter.  The Committee believes
that the marketing and selling of the Casino Enterprise to a third party would
serve the best interests of all parties in interest in this case, and that
Libra is the most qualified entity for this engagement.  The Committee
believes that because this engagement is premised on a success fee, it will
not burden the estates.


COLONIAL DOWNS: Virginia Race Track To Close OTB Parlors
--------------------------------------------------------
A horse-racing course in Virginia, the Associated Press reports, may close
four of its parlors and cease ties with Virginia Racing Commission the next
two years.  Shareholders were told by CEO Jeffrey P. Jacobs of Colonial
Holdings Inc., of management's intent to rent the New Kent County track to
another party.  Jacobs added, "For the first time, given the political climate
of the state, I'm recognizing that probably the best way to grow quality, live
horse racing at the racetrack probably involves some formula that includes
closing down the OTB parlors."

Colonial Downs Holdings, Inc. is a Virginia corporation organized in November
1996 to pursue opportunities for pari-mutuel horse-racing and wagering in
Virginia. The Company, through its subsidiaries, holds the only unlimited
licenses to own and operate a pari-mutuel horse-racing course and satellite
wagering facilities/racing centers in Virginia. Colonial Downs Holdings, Inc.
became a publicly held company in March 1997 and trades on the NASDAQ Small
Cap System under the symbol CDWN.


COMMERCIAL FINANCIAL: Jenner & Block Asks to Represent Both Debtor & Creditor
-----------------------------------------------------------------------------
Jenner & Block filed a Motion asking that it be permitted to represent
Conseco, Inc., the corporate parent of a company which filed a claim against
the Commercial Financial Services, Inc. for $25,442,764 and whose
agent and/or manager also serves as a member of the Official Committee of
Unsecured Creditors.

Jenner & Block assures the Court that the current matter and anticipated
future matters in which the Firm will represent Conseco are unrelated to
Commercial Financial Services Inc. and that it will not staff the new
engagement with personnel who are actively engaged in representing the Debtor.

The Official Committee of Asset-Backed Securityholders claims that as the
ultimate corporate parent of an entity which holds a claim in excess of $25
million against Commercial Financial Services and as a member of the
constituency represented by the committee of unsecured creditors, Conseco has
a material interest in the resolution of the disputes between that
constituency and the constituency represented by the ABS Committee.

According to the ABS Committee, Jenner & Block's motion raises the question
whether the debtor's ability to mediate disputes between the two committees
will be impaired if the debtor's lead counsel undertakes the representation of
the parent of an entity which holds a substantial claim as a member of the
creditor's committee constituency and whose agent and/or manager is a member
of the creditors' committee.


CREDITRUST CORP: Shareholders Initiate Class Action Suit Against Officers
-------------------------------------------------------------------------
The Associated Press reports that a class action lawsuit was filed against
Joseph K. Rensin and three other executives of Creditrust Corp. in the U.S.
District Court in Baltimore.  Rensin, Creditrust's president and chief
executive, and the other three executives, whose names were undisclosed, are
accused of falsifying public statements and augmenting the Company's stock
price and financial reports.  

Creditrust Corp., a company which assume collection of delinquent credit card
accounts after purchasing them, is located in Woodlawn, Maryland and filed
Chapter 11 bankruptcy protection last June 22.


EDISON BROTHERS: Cases Convert to Chapter 7 & Aug. 21 341 Meeting Scheduled
---------------------------------------------------------------------------
On July 5, 2000 Judge Walrath approved a request by Edison Brothers Stores,
Inc. and its debtor-affiliates to convert their Chapter 11 cases to a
liquidation proceeding under Chapter 7 of the Bankruptcy Code.  Alan M. Jacobs
serves as the interim Chapter 7 trustee.  

The United States Trustee for Region III will convene a meeting of the
Debtors' creditors, pursuant to Section 341 of the Bankruptcy Code, on
August 21, 2000 at 10:00 AM, J. Caleb Boggs Federal Building, 844 King Street,
Room 2313, Wilmington, DE.

Additionally, the Bar Date, fixing the last date and time for creditors to
file any proofs of claim is November 20, 2000.

Attorneys for the Interim Trustee are Neil B. Glassman and Charlene D. Davis,
The Bayard Firm, 222 Delaware Avenue - Suite 900, PO Box 25130, Wilmington, DE
19899.


ELDER-BEERMAN: 5.5% Shareholder D3 Family Fund Losing Patience With Management
------------------------------------------------------------------------------
D3 Family Fund, controlling 820,500 shares -- a 5.5% stake -- of common stock
in Elder-Beerman Stores, recently said it will vote in favor of the four
directors and all of the resolutions contained in Elder-Beerman's proxy
statement. However, D3 expressed its impatience with "management's excuses"
for the Dayton, Ohio-based retailer's continued poor performance. In addition,
F&D Reports' Scrambled Eggs publication relates, D3 recommended that Elder-
Beerman separate the positions of chairman and CEO and, more drastically,
replace current CEO & CFO Fred Mershad immediately.


GOLDEN BOOKS: Second Quarter Results Show Convalescence  
-------------------------------------------------------
Golden Books Family Entertainment, Inc. reported an EBITDA improvement of $4.5
million for the second quarter, based on an EBITDA loss of $0.5 million for
the quarter, compared with an EBITDA loss of $5.0 million for the second
quarter of 1999.

The Company's EBITDA for the first six months of 2000 was $1.6 million,
compared with an EBITDA loss of $7.7 million for the first six months of 1999,
an improvement of $9.3 million.

Revenues of $32.7 million in the second quarter increased by $0.9 million,
compared with $31.8 million in second quarter of 1999. Revenues of $69.0
million for the first six months of 2000 increased $2.4 million, compared with
$66.6 million for the first six months of 1999. Excluding revenues from
segments sold in 1999 (Adult Publishing and Commercial Products), revenues
from ongoing operations for the first six months of 2000 increased $9.2
million (15%) to $69.0 million, compared with $59.8 million for the first six
months of 1999.

Gross profit increased $5.7 million to $15.6 million for the quarter from $9.9
million for the second quarter of 1999. As a percentage of revenues, gross
profit increased to 48% for the second quarter, compared with 31% for the
quarter in the prior year. Gross profit for the first six months of 2000
increased $11.6 million to $31.8 million from $20.2 million for the first six
months of 1999. As a percentage of revenues, gross profit increased to 46% for
the first six months of 2000, compared with 30% for the first six months of
1999.

The Company's net loss for the second quarter of 2000 decreased. The net loss
for the quarter was $7.7 million, compared with a net loss of $8.6 million for
the second quarter of 1999. The Company's net loss for the first six months of
2000 was $12.0 million, compared with a net loss of $19.9 million for the
first six months of 1999. In connection with the Company's Amended Plan of
Reorganization, the Company adopted "fresh start" accounting at the beginning
of fiscal 2000, and as a result, the net loss from period to period is not
directly comparable. [See the attached Condensed Consolidated Statement of
Operations.]

Golden Books Family Entertainment, Inc. is one of the most recognized and
trusted brands in children's publishing, and owns one of the largest libraries
of family entertainment copyrights and exploits them through all media. The
Company, through its entertainment division, creates, produces and markets
such entertainment products as Lassie, Lone Ranger, Rudolph the Red Nosed
Reindeer, Frosty the Snowman, and Underdog.


GOLDEN OCEAN: Bentley to Support Frontline's Reorganization Plan for Carrier
----------------------------------------------------------------------------
Lloyd's List International reports on the Frontline Ltd. and Bentley
Investlook's feud for control of bankrupt Golden Ocean Group Ltd.  Bentley
gave way to support Frontline's plan of reorganization, together with Greece's
Restis and Kollakis families for the restructuring of Golden Ocean's Chapter
11 bankruptcy.  Frontline agreed to seek court approval to enable it to
replace and refinance Bentley as lender to Golden Ocean.  Victor Restis of
Bentley said the deal made "a lot of sense for both parties . . . it is
obvious that the problems previously encountered were caused by mutual
misunderstandings and the failure to maintain direct lines of communication."  
Concessions were made, according to Chairman Mr. Fredriksen of Frontline, as
he mirrored Mr. Restis' comments.

The U.S.-based 17-tanker, Golden Ocean is the world's largest fleet of modern
very large crude carriers.  Golden filed for Chapter 11 in the U.S. Bankruptcy
Court in Delaware on January 14.


GREAT TRAIN: Clear Disclosure that Shareholders Won't Recover Anything
----------------------------------------------------------------------
As previously reported in the TCR, The Great Train Store Company filed a
voluntary petition for protection and reorganization under Chapter 11 of the
Federal Bankruptcy Code in the United States Bankruptcy Court for the District
of Delaware on February 28, 2000. From that time, the company has operated
under the protection of the United States Bankruptcy Code as a debtor-in-
possession and had been attempting to obtain bridge and replacement financing
and to explore other opportunities.

On May 18, 2000, the United States Bankruptcy Court entered an order
authorizing, among other things, that the company (i) discontinue operations
at and liquidate the inventory located at the going-out-of-business stores,
and (ii) enter into an agency agreement for such liquidation.

On June 23, 2000, the United States Bankruptcy Court entered an order
approving the auction procedure for the sale of the company's leases and
approving the rejection procedure for termination of the leases not auctioned.

"To date, based on the preliminary results of the liquidation, the company
does not expect that the stockholders of the company will receive a
distribution as a result of the liquidation," Great Train says in a regulatory
filing submitted to the Securities and Exchange Commission earlier this week.


HAGERSTOWN FIBER: Trustee and Bondholders Tap Michael Fox and Perry Videx
-------------------------------------------------------------------------
A hearing will be held on August 10, 2000 at 10:00 AM to consider the motion
of David R. Kittay, Esq., Chapter 7 Trustee of Hagerstown Fiber Limited
Partnership and the unofficial bondholders' committee for the debtor, for the
entry of an order authorizing the retention of Michael Fox International Inc.
and Perry/Videx, LLC as sales agent in respect of certain assets of the
debtor, and approving an agreement related thereto.

Hagerstown and its Bondholders' Committee tell the Bankruptcy Court that their
mutual interests will be best served by retaining a skilled auctioneer to
ensure that the asserts were properly marketed and the greatest return
realized.  

The parties have agreed to a three-phased asset sale approach.  
During Phase I Fox shall receive a fee between 2.75% and 3% of the sale
proceeds, with an incentive bonus of .5% if the amount of gross sale proceeds
exceeds $25 million.  In Phase II and Phase III, Fox shall receive a fee of
between 5% and 8% of the sales proceeds and an incentive bonus of 1% of the
aggregate amount of gross sale proceeds that exceed $25 million. These fees
are subject to other adjustments in the Engagement Letter.


HOUSING RETAILER: Application to Employ Dworken Hillman as Accountants
----------------------------------------------------------------------
Housing Retailer Holdings, Inc., and H Squared LLC, through their counsel,
Saul, Ewing, Remick & Saul LLP, apply to the Bankruptcy Court in Delaware for
an order authorizing them to employ Dworken, Hillman LaMorte & Sterczala, PC
as their accountant during the chapter 11 process.  

The Debtors submit that it is essential for them to employ Dworken as their
accountant in these cases because the debtors will be unable to comply with
various tax reporting requirements without Dworken's accounting services.

Compensation will be payable to Dworken on an hourly basis, plus
reimbursement of necessary expenses.  The current standard hourly rates of
the firm staff presently designated to represent the debtor are:

     James G. Cosgrove           (principal)       $225
     Paul M. Sterczala, CPA      (principal)       $225
     Scott Firmender, CPA        (staff)
     James S. Rollinson, CPA     (staff)


INSILCO HOLDING: Moody's Downgrades Senior Unsecured Rating to Caa2
-------------------------------------------------------------------
Moody's Investors Service downgraded the rating of Insilco Holding Co.'s $138
million par ($89 million current accreted value) 14% senior discount notes due
2008 to Caa2, from Caa1.  Holdings' senior unsecured issuer rating was
downgraded to Caa2, from Caa1.  The senior implied rating was downgraded to
B2, from B1.  Holdings' $73 million par ($45 million current accreted value)
15% PIK senior exchangeable redeemable preferred stock is rated "caa".  The
outlook is stable.

At the operating company level, Moody's downgraded the rating of Insilco
Technologies' (formerly known as Insilco Corporation) $120 million of 12%
senior subordinated notes due 2007 to Caa1, from B3, and also downgraded the
ratings of Insilco's existing approximately $285 million of senior secured
credit facilities to B2, from Ba3, which ratings shall be withdrawn upon
execution of a new senior credit agreement. In addition, Moody's assigned a
rating of B2 to all three tranches of Insilco's proposed new $200 million in
senior secured bank credit facilities.

These ratings actions were prompted by several transactions being contemplated
by the company and its investors in an effort to better focus Insilco's
business segments, unlock values and obtain greater financial flexibility.

These include the decisions by Insilco to:

    (i)  concentrate on its electronic and telecommunications business
         (including custom cable assembly, passive components and stamping)
         and divest its ThermaSys heat transfer and transmission components
         business lines for $147 million in net sale proceeds and,
         additionally

    (ii) acquire the stock of Precision Cable, a complementary cable assembly
         operation, at a purchase price of $55 million. Majority ownership of
         Holdings will continue to be held by DLJ Merchant Banking, with the
         balance owned by a combination of Citicorp Venture Capital,
         management and the public. Insilco will continue to share common
         management with ThermaSys.

The rating actions reflect Insilco's extremely weak balance sheet and high
leverage, at both the operating company and consolidated holding company
levels. Pro forma consolidated debt is approximately equal to Insilco's total
revenues. In addition, the company operates in markets characterized by
technological change, evolving industry standards, frequent new product
introductions and product customization. There is a very high service element
to the business, making it critical to maintain a large infrastructure and a
presence close to key customers. Strong competitors must also have capacity to
ramp up new programs quickly, which can prove expensive should higher volumes
not be obtained due to economic or other unexpected events. The industry is
fragmented with regard to all of the company's key products, and there is
evidence that the market is beginning to rationalize its customer base.
Insilco additionally remains acquisition-oriented, despite its substantial
existing debt. While the divestiture of ThermaSys will enable Insilco to focus
on its higher margin niche technology businesses, the company will be at some
risk of having a less diversified business profile.

The ratings actions also consider Insilco's strengths. Rapid growth and very
strong margins characterize the company's business. Insilco has strong
relationships with many Fortune 500 companies, but does not have any
significant concentrations. The acquisition of Precision Cable will further
serve to diversify the customer base with additional top tier customers.
Management has proven capable of integrating acquisitions in the past, and has
sold off most of its non-core assets at a profit. The company has strong
levels of available capacity in the US, as well as in Mexico, Canada and Asia.
As a by-product of past infrastructure investments, capital expenditures
levels are anticipated to track below depreciation expense. The ratings also
reflect the PIK provisions of certain of the company's debt and preferred
stock that will remain in place until August 2003.

The stable outlook reflects Insilco's expected ability to continue its strong
revenue growth at high margins. The company has developed a solid customer
base and appears to provide the required high levels of service. Moody's could
reevaluate its ratings in the event that the company produces levels of cash
available for debt service that differ from expectations as a result of a
combination of revenue or margin changes, disproportionate changes in working
capital requirements, or aggressive acquisition activities.

The $200 million in new senior secured credit facilities, to be arranged by
DLJ Capital Funding, will consist of three tranches:

    (1) a $50 million six-year revolving credit

    (2) a $50 million six-year term loan A
  
    (3) a $100 million seven-year term loan B

There will additionally be established a $25 million accordion feature which
may be activated in the event of future acquisitions.

These facilities, along with the $147 million in net proceeds from the sale of
ThermaSys, will be used to:

    (A) refinance the company's existing senior indebtedness

    (B) finance the approximately $55 million purchase price for the stock
        of Precision Cable

    (C) pay fees and expenses associated with the transactions
     
    (D) provide for ongoing general corporate needs

The revolving credit will also be able to be utilized for small permitted
acquisitions. The B2 rating reflects the benefits and limitations of the
collateral package, which consists of a first priority interest in all
tangible and intangible assets of the borrower and its guarantors. The
borrower is the operating company Insilco. Guarantees will be provided by
Holdings, as well as by all material direct and indirect subsidiaries of
Insilco. Stock pledges will be provided by the borrower and all of its
material subsidiaries (100% of the voting stock of domestic entities and up to
65% of the voting stock of foreign subsidiaries). All intercompany
indebtedness will be pledged in favor of the borrower and guarantors. The B2
rating of the senior secured bank facilities is the same as the senior implied
rating, reflecting limited asset coverage.

The issuer of the $120 million of 12 % senior subordinated notes, due 2007, is
also Insilco. The Caa1 rating reflects the contractual subordination of these
notes to senior debt, including outstandings under the secured credit
facilities. These unsecured notes are guaranteed on a senior subordinated
basis by all wholly-owned existing and future domestic subsidiaries. The notes
are non-callable until August 2002 and contain mandatory redemption provisions
in the event of a change in control.

The issuer of the $138 million par 14% senior discount notes due 2008 is
Holdings. Interest accretes until August 2003, and then becomes payable in
cash. The notes are redeemable at a premium after August 2003 and contain
certain restrictive covenants. The Caa2 rating of the senior discount notes
reflects that Holdings' sole purpose is to hold the stock of Insilco and,
additionally, that the notes are structurally subordinated in nature due to
the lack of a guarantee from Insilco.

The issuer of the $73 million par 15% senior exchangeable redeemable preferred
stock is Holdings. Dividends are paid in kind until August 2003, and then
become payable in cash. The shares are redeemable at any time at a premium
which begins at 15%, and then starts decreasing after August 2003. A put at
101% exists in the event of a change of control. The "caa" rating reflects the
junior nature of these non-guaranteed securities.

Pro forma for the transactions to divest ThermaSys, acquire Precision Cable
and refinance the existing senior secured debt, the company will have posted
LTM June 30, 2000 sales, gross profit and EBITDA (after earnout payments) of
$383 million, $107 million (28%) and $61 million (16%), respectively. The pro
forma ROA return on assets is very robust at 16.6%. Pro forma consolidated
EBITA coverage of cash interest and preferred dividends will be satisfactory
at 1.8x. This ratio reflects the PIK nature of a total of almost $18 million
in pro forma interest and dividends.

Pro forma consolidated LTM June 30, 2000 leverage, as measured by "total
debt/EBITDA" is very high at 5.9x (and 6.6x when incorporating the $45 million
current value of PIK redeemable preferred stock as debt). Pro forma senior
debt/EBITDA is satisfactory at 2.5x. Pro forma consolidated tangible equity is
negative $300 million, with goodwill equal to $111 million, or 34% of total
assets. Pro forma debt is approximately equal to revenues.

Insilco, headquartered in Dublin, Ohio, is a designer, manufacturer, and
distributor of custom cable assemblies, passive electronic components and
precision stampings. These business segments represented approximately 48.5%,
27.5% and 24%, respectively of the company's pro forma 1999 revenues.
Insilco's products serve as building blocks for telecom, data networking and
electronic products. The company manufactures and markets its products and
services to Fortune 100 companies, which include leading OEM and EMS providers
in the telecommunications, data processing, computer networking, cellular
telephone, electronics and security systems markets. Insilco services its
customers globally, but the bulk of its assets and operations are based in
North America. The company is publicly traded (ticker symbol INSL.OB).


INTEGRATED HEALTH: Motion To Reject a Handful of Executory Contracts & Leases
-----------------------------------------------------------------------------
Integrated Health Services, Inc., and its debtor-affiliates sought and
obtained authority from Judge Walrath to reject five executory contracts and
unexpired leases pursuant to 11 U.S.C. Sec. 365:

    (1)  Medical Gases Agreement with Lessors, Inc. under which the Debtors
         purchase industrial and medical gases, at monthly cost of $2,916,
         for an initial three year term, renewable from year to year until
         written notice for termination.

    (2)  Computer Recovery Services Agreement, July 1, 1997, with Sunguard
         Recovery Services, Inc. for Sunguard to supply center-based, mobile
         and related computer recovery and support services in the unplanned
         event or condition that IHS is unable to use a location for its
         intended computer processing and related purposes, at monthly cost
         of $8,875, for 60 months.

    (3)  Marathon Busniess Systems Lease between Horizon Specialty Hospital, a
         subsidiary of IHS and Marathon Business Systems under which Horizon
         leased business machines from Marathon, at monthly cost of $323, for
         60 months, renewable from year to year.

    (4)  Konica Business Technologies Agreement between Cheyenne Intermediate
         Care, a subsidiary of IHS, and Konica Business Technologies pursuant
         to which Cheyenne leased copy machines from Konica, for a term of 60
         months, at a monthly cost of $308 plus additional amounts depending
         on volume which have been approximately $800 per month in recent
         months.

    (5)  Fleet Lease with Fleet Leasing Corporation, dated October 30, 1998,
         pursuant to which IHS leased business machines from Fleet, at montly
         cost of $189, for a term of 60 months.

(Integrated Health Bankruptcy News, Issue No. 6; Bankruptcy Creditors Service
Inc., 609/392- 0900)


LIBERTY HOUSE: JMB Realty Balks at Hawaii Retailer's Reorganization Plan
------------------------------------------------------------------------
The Associated Press reports that Hawaii department store chain Liberty House
filed a reorganization plan in U.S. Bankruptcy Court in Honolulu to emerge
from bankruptcy.  Liberty House's plan, the AP understands, has consent from
creditors and lenders, but not from its owner, JMB Realty Corp.  Bruce
Bennett, Esq., representing the retailer, said, "The plan is the result of
extensive negotiations and cooperation among the parties, and reflects their
collective desire to resolve the bankruptcy case."  

JMB asks Bankruptcy Judge Lloyd King to appoint a mediator to draft a plan.
Liberty House and its major lenders think that suggestion is absurd and the
cost will far exceed any benefit.  

Conflict in Liberty House's restructuring was intense at the outset of its
chapter 11 filing.  Liberty House managers have been answering to two boards
of directors -- one controlled by JMB and the other by the institutional
lenders led by bank of America.  The 150-year-old Liberty House which is
Hawaii's oldest and largest department store chain, filed for Chapter 11
bankruptcy protection in March 1998, listing assets of $284.2 million and
liabilities of $248.4 million.


LOEWEN GROUP: Discloses Five Miscellaneous Asset Sales to Parties-in-Interest
---------------------------------------------------------------------
The Loewen Group, Inc., and its debtor-affiliates report these Miscellaneous
Asset Sales to the U.S. Bankruptcy Court in Wilmington, Delaware:

    (A)  Loewen Group International, Inc. (LGII) sold approximately 34,953
          square feet of real property located in Plainview, New York where a
          parking lot and a commercial building containing approximately 3,516
          square feet of space are situated to Ralph Parisi for $1,025,000.

    (B)  Prata Funeral Homes, Inc. sold Property of approximately 34,107
          square feet and assets at a vacant former funeral home located at
          375 Branch Avenue, Providence, Rhode Island to Hugo L. Ricci and
          Raymond Dettore, Jr. for $253,900 in cash.

    (C)  Loewen (Oklahoma), Inc. conveyed its interest in real property at 615
          South Ponca Street, Norman, Oklahoma to Randy P. Veitenheimer for an
          aggregate purchase price of $60,000.

    (D)  Poteet Holdings, Inc. sold 4,265 square feet of real property located
          in Vadalia, Georgia to William H. McLain for $6,400.

    (E)  Loewen Communication Center, Inc. sold office equipment formerly used
          in the center to Robert M. Cottell, Sr. individually and doing
          business as TeleLink Communications for $10,000 in cash and
          promissory note in principal amount of $70,000 payable in 12 monthly
          installments with an interest of 8%.

(Loewen Bankruptcy News, Issue No. 25; Bankruptcy Creditors Service Inc.,
609/392- 0900)

LONDON FOG: Delaware Court Extends Sec. 365(d)(4) Deadline to November 20
-------------------------------------------------------------------------
By order entered July 27, 2000, the U.S. Bankruptcy Court for the District of
Delaware granted a Motion by London Fog Industries, Inc., et al., for an
extension, pursuant to 11 U.S.C. Sec. 365(d)(4), of the deadline within which
the Company must decide whether to assume, assume and assign or reject
non-residential real property leases to and including November 20, 2000.  The
Court's Order does not apply to the Debtors' lease with Craig Realty Group -
Woodburn LLC for a store located at the shopping center in Woodburn, Oregon.  
A separate Court order will govern the deadline by which the Debtors must
decide the disposition of that Lease Agreement.  


MOBILE ENERGY: Files Joint Plan of Reorganization with Secured Bondholders
--------------------------------------------------------------------------
Mobile Energy Services Company LLC, its parent Mobile Energy Services Holdings
Inc. and a committee of secured bondholders have jointly filed a proposed plan
of reorganization in U.S. Bankruptcy Court that would, upon approval,
restructure Mobile Energy Services' secured bond debt. The plan also would
allow for the development of a new pulp mill on the mill site idled by
Kimberly Clark Tissue Company in September 1999.

The proposed plan would restructure the existing secured bond debt, with the
consent of the bondholders, significantly reducing Mobile Energy Services'
long-term debt obligations. Additionally, the equity ownership of Mobile
Energy Services Holdings would be transferred from Southern Company (NYSE: SO)
and its affiliates to the bondholders.

As part of the plan filed Aug. 4, Mobile Energy Services would continue to
provide energy services to the Kimberly Clark Tissue Company and Sappi
facilities at the site, as well as to the new pulp mill. Negotiations with a
potential third-party owner and operator of the new pulp mill are underway.
The new pulp mill would use property and equipment from Kimberly-Clark Tissue
Company. Mobile Energy Services obtained the right to purchase the equipment
in return for market-priced steam and electricity and as part of a settlement
of claims the companies filed against each other. Under the proposed plan
Mobile Energy Services would transfer the rights to the pulp mill property and
equipment to the owners of the new pulp mill.

Mobile Energy Services is the owner and operator of a facility that generates
electricity, produces steam and, until the shutdown of the pulp mill,
processed black liquor as part of a pulp and paper complex in Mobile, Ala.
Mobile Energy Services and Mobile Energy Services Holdings Inc. filed for
Chapter 11 bankruptcy protection in January 1999.

The proposed plan also furthers the construction of a new cogeneration
facility, which would use natural gas to manufacture additional steam for the
site and electricity for sale to the wholesale power market. The development
of the cogeneration project was approved by the U.S. Bankruptcy Court in
January of this year.

The plan also provides for payment in full to non-insider creditors of Mobile
Energy Services other than the bondholders whose claims are allowed by the
Bankruptcy Court, as well as payment in full of allowed administrative claims.

The U.S. Bankruptcy Court for the Southern District of Alabama must review and
approve the joint plan of reorganization after it is voted on by creditors.
The transactions envisioned under the plan are also subject to review by the
U.S. Securities and Exchange Commission. This press release is not a
solicitation for any party's vote on the plan.


MONET GROUP: IBJ Whitehall Moves to Prohibit Payment of $1.25MM Break-Up Fee
----------------------------------------------------------------------------
IBJ Whitehall Business Credit Corporation f/k/a IBJ Schroder Business Credit
Corporation, individually and as administrative agent for the prepetition and
postpetition lenders, filed a motion for a court order prohibiting payment by
The Monet Group, Inc., and its affiliates of a Break-up Fee and expense
reimbursement to Monet Acquisition Corp. in connection with its role as
stalking horse bidder for the sale of the debtors' assets.

According to IBJ Whitehall, the court's Bidding Procedures Order dated May
31, 2000 provides that the debtors are authorized to pay a Breakup Fee and
expense reimbursement to Monet Acquisition if it is not in default under its
agreement. However, IBJ Whitehall maintains that Monet Acquisition is in
default under the agreement, which includes its commitment to pay the Lenders'
fees and expenses pursuant to a certain schedule. In the term
sheet, Monet Acquisition agreed to reimburse IBJ as agent for the Lenders
for all fees and expenses incurred in negotiating and preparing documentation
for the financing transaction, whether or not such transaction was ultimately
consummated. To date, IBJ has invoiced Monet Acquisition for $208,522 in fees
and expenses. Due to this default, IBJ claims that Monet Acquisition is not
entitled to its $1.25 million Break-UP Fee.

Richards, Layton & Finger and Morgan, Lewis & Bockius LLP represent IBJ
Whitehall Business Creditor Corporation.


MONET GROUP: Seeks Order Approving Rejection of Union Contract
--------------------------------------------------------------
The Monet Group, Inc. n/k/a M Group, Inc., The Monet Group Holdings, Inc.,
n/k/a TMGH, Inc., and Monet Sales Corp. n/k/a M Sales Corp. seek a court
order approving rejection of Union Contract.

On or about October 5, 1998, Monet and the Jewelry Toolmakers And Die Cutters
Lodge 129 of District 64 of the International Association of Machinists and
Aerospace Workers entered into a three year Agreement whereby Monet's
employees would be represented by the Union and the Union negotiated certain
benefits and obligations on behalf of the employees. The agreement was
extended until October 1, 2001.

L-M Acquisition Corp., the purchaser of substantially all of the debtors'
assets, has advised the debtors that it will not be assuming the obligations
under the Agreement pursuant to the sale.  In light of the liquidation and
wind-down of the debtors' business, the debtors seek to reject the Agreement
because the Agreement is of no future benefit to these estates.


MULTICARE AMC: Debtors Tap Ernst & Young as Financial Advisors
--------------------------------------------------------------
Multicare AMC, Inc., et al., filed an application for an order authorizing
the debtors to retain and employ Ernst & Young LLP and Ernst & Young
Restructuring LLC as financial advisors for the debtors.  Among other
professional services, E&Y will assist in the reorganization effort by:

    *   Providing health care financial, clinical and operational experts to
        advise and assist the debtors in the preparation of analyses of
        certain related-party transactions and services provided by GHV to
        the debtors' facilities including pharmacy, therapy and other
        services.

    *   Assessing various revenue enhancement and cost reduction opportunities
        at the nursing home level;

    *   Conducting an analysis to assess the debtors' ability to determine its
        cost structure related to various patient categories to be used to
        determine whether certain patient categories are not profitable;

    *   Conducting off-site visits of the Manager's regional offices and
        selected nursing home sites of the debtors to assess operational and
        financial conditions;

    *   Reviewing certain reimbursement and regulatory matters;

    *   Prepare nursing home benchmarking analyses; and

    *   Performing such other services as may be requested from time to time by
        the debtors' management or Beverly Anderson, the debtors' Chief
         Restructuring Officer.

Compensation will be payable on an hourly basis. The hourly rates payable
to Ernst & Young and Ernst & Young Restructuring for services, by
classification are currently as follows:

      Ernst & Young Restructuring:

         Managing Directors & Principals   $495 to $575
         Directors                         $425 to $480
         Vice Presidents                   $325 to $375
         Associates                        $265 to $295
         Analysts                          $195 to $225
         Client Service Associates                 $115

      Ernst & Young

         Partners & Principals             $440 to $550
         Senior Managers & Managers        $240 to $400
         Seniors & Staff                   $145 to $230

During the three months immediately preceding the Petition Date, the debtors
made payments to Ernst & Young Restructuring aggregating $65,640 and to
Ernst & Young aggregating $302,794.  

Co-Counsel for the MultiCare debtors are James L. Patton, Jr, Robert S. Brady
and Maureen D. Luke of Young Conaway Stargatt & Taylor LLP and Marc Abrams and
Paul V. Shalhoub of Willkie Farr & Gallagher.


OPTEL, INC: Adelphia Communications Offers $56 Million for Cable TV Systems
---------------------------------------------------------------------------
Optel, Inc., and its debtor-affiliates seek bankruptcy court approval of an
Asset Purchase Agreement dated as of June 29, 2000 with Adelphia
Communications Corporation.

The debtors have determined that it is in their best interest to sell all of
the tangible and intangible assets used by the sellers in connection with its
cable television systems in sellers' Los Angeles, California area and San
Diego, California area markets.  The assets to be sold include the equipment,
the assumed contracts, the FCC licenses, the other licenses, the franchises,
the customer receivables, the vehicles, the inventory, the books and records.
The Buyer shall pay the aggregate amount of $56,192,000, subject to certain
adjustments.

The closing of the sale and transfer of the assets shall take place at the
offices of Kronish Lieb Weiner & Hellman LLP, 1114 Avenue of Americas, New
York, NY 10036, co-counsel to OpTel, on a date which is the latest of the date
on which the Approval Order has become a Final Order or such earlier date
after the entry of the Approval Order as Buyer may designate by at least five
days prior written notice to Sellers, after certain conditions have been
met, satisfied or waived.

This agreement is subject to higher or better offers in an amount in the
aggregate at least equal to the sum of the purchase price plus a $1,685,000
Break-Up Fee in the event that Adelphia it outbid.  


OWENS CORNINGS: Fitch Downgrades Senior Unsecured Debt Rating To 'BB'
---------------------------------------------------------------------
Fitch downgraded the ratings of Owens Corning's (OWC) senior unsecured debt
from 'BBB-' to 'BB', and lowered the MIPS rating from 'BB+' to 'B+'.  The
Outlook remains Negative.  The rating change reflects the company's diminished
capacity to generate free cash flow through the cycle after incorporating
increased asbestos-related outlays associated with the company's National
Settlement Program (NSP). The recent addition to asbestos reserves decreases
the company's ability to absorb the impact of cyclical fluctuations without
further burdening its balance sheet and reducing debt protection measures.

On July 13, OWC announced that it was increasing its asbestos reserve by $1
billion pretax, which will result in an expansion of payments in 2003 and 2004
from $150 to $400 (pretax and pre-insurance recoveries), in each year.
Existing caps of $950 million, $400 million and $250 million remain intact for
2000, 2001, and 2002 respectively. Debt levels have expanded rapidly since the
implementation of the NSP, and negative cash flows resulting from asbestos
payments are likely to cause further expansion in the event of economic
softness. Partially offsetting 2000 payments was the receipt of $335 million
in non-product liability insurance. Owens Corning will continue to require
additional external financing over the intermediate term, and is likely to be
reliant on the bank market for these funds, including the ability to meet
long-term debt maturities.

OWC's recent debt protection measures had been considered weak for the rating,
and the rating had incorporated certain expectations since the establishment
of the NSP in 1998. Namely, that despite the meaningful increase in debt
resulting from large payments in 1999 and 2000, the subsequent rapid falloff
would prevent the company's balance sheet from further deteriorating in the
event of a normal cyclical downturn. The rating also assumed that Owens
Corning would be in a position to restore its balance sheet upon the
continuation of current healthy market conditions, or in the event of an
upturn in economic conditions following any short-term slowdown. The rating
action reflects the company's reduced capacity to meet the prior expectations
given that the increased claims on the company's cashflow in 2003 and 2004
reduce the company's flexibility to absorb cyclical fluctuations over this
time period. Although the NSP has clearly been beneficial in resolving claims
and managing cash outflows, underlying developments surrounding asbestos
liability continue to be negative, which has forced OWC and other companies to
continuously revise reserve levels.

The 'BB' rating incorporates the potential impact of normal cyclical
fluctuations inherent to Owens Corning's core building materials segment,
which Fitch believes has performed in line with expectations. The negative
outlook reflects that over the intermediate term OWC's ratings could be
pressured by additional reserves (including increased reserves related to the
Fibreboard settlement trust) and by the company's reduced access to capital
sources. As in the past, asbestos payment obligations will continue to
represent a meaningful determinant of OWC's credit quality and rating changes
may continue to be largely event driven. Fitch recognizes that successful
resolution of the company's litigation against the tobacco industry, the
potential receipt of meaningful non-product liability insurance proceeds or
the adoption of several tax-relief proposals could favorably impact credit
quality over the intermediate term.


PAGING NETWORK: Metrocall Makes Pitch to File Competing Plan of Reorganization
------------------------------------------------------------------------------
Metrocall, Inc. (Nasdaq: MCLL) announced that it filed a motion requesting
that the U.S. Bankruptcy Court for the District of Delaware terminate
PageNet's exclusivity period as to permit Metrocall to expeditiously submit a
competing plan of reorganization in the Chapter 11 reorganization cases of
Paging Network, Inc. and its operating subsidiaries.  Metrocall's motion
contains a timetable that demonstrates that a competing Metrocall plan could
obtain all regulatory approvals and be confirmed by the Bankruptcy Court
before the year- end.

As stated in its motion, Metrocall believes that it should have the chance to
conduct expedited due diligence for a period of ten business days and to
propose a competing plan that is more favorable to stakeholders than PageNet's
proposed transaction with Arch Communications. Metrocall further stated in its
motion that PageNet's board has a fiduciary obligation to its stakeholders to
allow competing bids, which will benefit all stakeholders, and a fair auction
is consistent with bankruptcy principles to accept the highest and best offer.
Metrocall said that its proposal to the PageNet Board dated July 18, 2000,
which it believes is a superior proposal to the pending agreement, remains
open. Metrocall believes its proposal is more favorable, among other reasons,
because it has a $100 million cash component that PageNet's current pending
merger agreement does not, as well as an equity component, which had a value
considerably higher than the competing offer when valued using the closing
market prices as of the date of the proposal, as well as the closing market
prices as of Friday August 4th.  Metrocall believes, as a result of its
strategic and financial investors, Aether Systems, Hicks, Muse, Tate & Furst
and PSINet it is better positioned to capitalize on the growing demand for SMS
and two-way messaging, as well as participate in the rapidly emerging wireless
ASP market through its recently created subsidiary Inciscent.

A hearing on Metrocall's motion is currently set for August 21, 2000.
Metrocall makes it clear that it has had, and may continue to have,
discussions with representatives of PageNet creditors and shareholders
regarding its motion.


PRIME SUCCESSION: U.S. Trustee to Convene Meeting of Creditors on September 8
-----------------------------------------------------------------------------
On July 12, 2000, the debtors, Prime Succession, Inc., et al. filed voluntary
petitions for relief under Chapter 11. The meeting of creditors, pursuant to
Section 341 of the Bankruptcy Code, will be held on September 8, 2000 at 1:00
PM, 844 King Street, Room 2313, Wilmington, DE.

Counsel for the Debtors is:  Young Conaway Stargatt & Taylor LLP
                              Attn: Pauline K. Morgan, Esq.
                              Eleventh Floor
                              Wilmington Trust Center
                              1100 North Market St.
                              PO Box 391
                              Wilmington, DE 19899

The U.S. Trustee assigned to the Debtors' cases is: Daniel K. Astin, Esq.
                                               Office of the US Trustee
                                               Curtis Center, 950 West
                                               601 Walnut Street
                                               Philadelphia, PA 19106

The deadline to file a proof of claim is August 31, 2000 at 4:00 PM.  
Donlin, Recano & Co., Inc.,, serves as the claims agent in these cases.

PRIME SUCCESSION: Obtains Final Approval of $10 Million DIP Financing Pact
--------------------------------------------------------------------------
Prime Succession, Inc., announced that the U.S. Bankruptcy Court for the
District of Delaware gave final approval for the Company's debtor-in-
possession financing.  Under the DIP financing agreement, the Company has
obtained up to $10 million in financing from a group of its current senior
lenders.

Prime Succession, Inc. is the fifth largest provider of funeral and cemetery
products and services in the death care industry, on the basis of revenues, in
the United States. Through its subsidiaries, the Company owns and operates
approximately 140 funeral homes and 19 cemeteries in 19 states.


PRIME SUCCESSION: Court Schedules August 21 Disclosure Statement Hearing
------------------------------------------------------------------------
Prime Succession, Inc., announced that the U.S. Bankruptcy Court for the
District of Delaware has scheduled August 21, 2000, as the date for the
hearing to determine the adequacy of the Company's disclosure statement.  
Additionally, the Court has tentatively scheduled September 28, 2000, as the
date for the confirmation hearing regarding the Company's plan of
reorganization.  Based on this schedule, the Company would expect to emerge
from Chapter 11 in mid-October, 2000.  The Company makes it clear that there
is no assurance that the momentum of this fast-track chapter 11 case can be
maintained.  


QUORUM INTERNATIONAL: Case Converts to Chapter 7 Liquidation
------------------------------------------------------------
Quorum International Ltd. elected to convert its chapter 11 reorganization
case to a chapter 7 liquidation on July 21, 2000.  John R. Clemency, Esq., of
Streich Lang, PA, in Phoenix, continues to serve as Debtor's counsel.  

A meeting of creditors is set for August 29, 2000 at 8:30 AM at the Office of
the US Trustee, 2929 N. Central Avenue, 8th Floor, Room 820, Phoenix, Arizona.
Proofs of claim in the chapter 7 case must be received by the bankruptcy
clerk's office by November 27, 2000.


SAFETY-KLEEN: Motion To Pay All Prepetition Permit & Licensing Fees
-------------------------------------------------------------------
In the ordinary course of their businesses, Safety-Kleen Corp. and its
affiliated debtors are required to pay a vast array of Fees for operating
permits and licenses, including, among others, solid waste disposal, hazardous
waste generation, disposal and monitoring, air contaminant emission,
underground storage tank, and used oil permit and/or license fees, various
storm water permit, solid waste facility licenses, RCRA permits, air quality,
occupational lead poisoning, mercury handling, manifest, business license, and
industrial discharge permit and/or license fees. These permits and licenses
are prerequisites to the Debtors' ability to operate their businesses. Prior
to the commencement of these cases, the Debtors generally paid such Fees in a
timely fashion, although certain of the Fees were unpaid immediately prior to
the Petition Date.

The Fees, the Debtors explain, are incurred in the ordinary course of the
Debtors, businesses, either on a monthly, quarterly, or annual basis. Most
Fees are paid prospectively, i.e., at the beginning of a particular month,
quarter, or year, to secure the relevant permit or license for future
operations. In some instances, however, the Fees are paid in arrears.
Virtually all of the Fees are levied by the Regulatory Authorities pursuant
to one or more federal, state and local hazardous waste and other
environmental statutes and regulations. Fees may be calculated in a variety of
ways, depending upon the specific statutes or regulations enacted by a
Regulatory Authority. Some Fees are "flat fees," i.e., they are a specified
amount regardless of the Debtors actual activity. Other Fees are levied by
Regulatory Authorities based on the Debtors' collection, transportation,
disposal, or other activity during the immediately preceding monthly,
quarterly, or annual period. Still other Fees are based on statutorily
mandated criteria other than actual activity by the Debtors. Regardless of
their basis, however, the Fees must be paid in order for the Debtors to
continue to operate their businesses and facilities.

The Debtors operate more than 250 facilities across the United States, all
of which are subject to one or more Fees. Because of the significant costs
that would be involved, the Debtors have not conducted an exhaustive survey
of all states and localities to determine to what extent such Fees would be
deemed administrative expenses in each jurisdiction (i.e., Fees that are
paid prospectively, and that are due for a postpetition period). The Debtors
believe, however, that the vast majority of the Fees likely constitute
administrative expenses, in that most of the Fees due prepetition are, in
fact, payments in advance for permits and licenses covering the postpetition
period.

Considering the merits of the Debtors' Motion, Judge Walsh ruled that the
Debtors' Motion is Granted and:

    A.  The Debtors are authorized, but not directed, in their sole and
        absolute discretion, to pay the Fees, as described in the Motion, in
        the ordinary course of business.

    B.  All banks upon which a check, draft, or wire transfer dated prior to,
        on, or after the Petition Date is drawn in payment of Fees are
        authorized and directed to (a) honor any such checks or drafts
        issued, upon presentation thereof, or any such wire transfer
        instructions, upon receipt thereof, and (b) rely upon the
        representations of the Debtors as to which such checks, drafts, or
        wire transfers are in payment of Fees under this order.

    C.  Neither this order, nor any action by the Debtors, in accordance
        herewith, shall be construed as impairing, or shall be deemed to
        impair, the Debtors' rights to contest the validity or amount of any
        Fees that may be alleged by any Regulatory Authority to be due.

(Safety-Kleen Bankruptcy News, Issue No. 5; Bankruptcy Creditors Service Inc.,
609/392- 0900)


SANITARY SERVICES: Service Complaints Voiced about Connecticut Trash Hauler
---------------------------------------------------------------------------
Trash hauler Sanitary Services, Inc., sought bankruptcy protection in U.S.
Bankruptcy Court in Manchester, Connecticut, the Associated Press reports.
City officials complain that SSI failed to do its routine pick up of garbage
and missed its routes in West Hartford, Newington, West Haven, Seymour and
other communities.  Worsening the situation, company insurance payments
reportedly lapsed.  Mayor Richard Borer said, "Obviously, we are not
comfortable with the way the service is being conducted.  We do have a
contract with them, but we're going to be looking at other options."  Other
areas have started accepting bids for other trash companies.  SSI wants to
renegotiate, saying it will drop unprofitable contracts to help restructure
its business.  


SINGING MACHINE: New Shareholders to Consider ESOP & Decrease in Shares
-----------------------------------------------------------------------
The annual meeting of the shareholders of The Singing Machine Company,
Inc. will be held on September 6, 2000 at 10:00 a.m. in the Marriot Hotel
located at Boca Center, 5150 Town Center Circle, Boca Raton, Florida. At
the meeting a current report on the activities of the company will be
given.

The subjects proposed for action at the meeting are the election of
directors, to ratify The Singing Machine Company, Inc. Employee Stock
Option Plan, to approve an amendment to the company's Articles of
Incorporation to decrease the number of authorized shares, and the
approval of the company's independent certified public accountants. Should
other business properly arise at the meeting it will addressed as well.


SIRENA APPAREL: Deadline to Make Decisions About Leases Extended to Sept. 30
----------------------------------------------------------------------------
By order entered July 31, 2000, by the U.S. Bankruptcy Court for the Central
District of California, Los Angeles Division, The Sirena Apparel Group, Inc.,
obtained an extension of its within which to decide whether to assume, assume
and assign or reject three remaining unexpired leases of non-residential real
property through and including September 30, 2000:

      (A) The lease entered into by and between the debtor and MMH Venture
          Covering 900 square feet of commercial space in that certain complex
          known as 777 NW 72 Avenue, Dade County, Fla.

      (B) The lease between the debtor and 1411 Trizechahn-Swig, LLC covering
          the 23rd floor in the building known as 1411 Broadway, New York, NY,
          as well as certain additional commercial space on the 17th floor of
          that building.

      (C) The lease between the debtor and American Industries, Inc. of
          commercial space in Sonora, Mexico, located on Calzada Constitucion y
          Guanayato S/N (Altos), San Luis Rio Colorado, Sonora, Mexico.


SIZZLER INTERNATIONAL: Shareholders to Elect New Directors at Aug. 30 Meeting
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Stockholders of Sizzler International, Inc., are invited to attend the annual
meeting of stockholders to be held at the Radisson Hotel at 6161 West
Centinela Avenue, Culver City, California, on Wednesday, August 30,
2000 at 3:30 p.m.

Sizzler stockholders will elect two directors to serve until the 2003 annual
meeting of stockholders and until their successors are elected and qualified.


VERSATECH GROUP: Canadian Autoparts Maker Blames GM For Bankruptcy
------------------------------------------------------------------
The Toronto Star reports that the Autoparts maker, Versatech Group blames
General Motors for its insolvent status as it faces liquidation.  The shutdown
of GM's Oshawa operations cost Versatech $12.5 million, according to Chairman
Ian McDonald.  VP and controller John Kyle told The Star that Tarxien,
Versatech's Ajax subsidiary pushed the company into bankruptcy.  Kyle adds,
"Tarxien in Ajax was the main driver behind the operating losses and poor cash
flow.  We are mainly where we are today because of that."

Under the Companies' Creditors Arrangement Act, bankruptcy protection was
granted to the subsidiary, which later closed in June losing 300 workers for
not finding a buyer.  Canadian Auto Workers representative, John Gatens blames
GM for squeezing Tarxien to the point where it could no longer operate, the
Star added.

                               *********

A list of Meetings, Conferences and seminars appears in each Tuesday's edition
of the TCR.  Submissions about insolvency-related conferences are encouraged.

Bond pricing, appearing in each Friday's edition of the TCR, is provided by
DLS Capital Partners in Dallas, Texas.

For copies of court documents filed in the District of Delaware, please
contact Vito at Parcels, Inc., at 302-658-9911.  For bankruptcy documents
filed in cases pending outside the District of Delaware, contact Ken Troubh at
Nationwide Research & Consulting at 207/791-2852.

                               *********

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, Ronald Ladia, Zenar Andal, and Grace Samson,
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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