TCR_Public/001101.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, November 1, 2000, Vol. 4, No. 214

                                Headlines

ALLIED DIGITAL: Americ Disc Announces Agreement To Purchase Company Assets
BLUESTAR BATTERY: Creditors Announce Approval of Reorganization Plan
CARMIKE CINEMAS: Valley View Mall Says Rent Payments are in Default
CLARIDGE HOTEL: State Regulators Convene to Review Ichan Proposal
CONTIFINANCIAL CORP: Proposes $300,000 Transition Employee Severance Plan

CORAM HEALTHCARE: Confirmation Hearing Scheduled for Dec. 1 in Wilmington
EQUALNET COMMUNICATIONS: Opposes Dismissal or Conversion of Chapter 11 Case
FIRST ALLIANCE: FTC File Class Action Suit on Borrowers' Behalf
FRUIT OF THE LOOM: Replacing Letters of Credit Backing Headquarters IRBs
GRAND UNION: C&S Wholesale Announces Intent To Purchase Retailer's Assets

GWI, INC.: Court Okays Skadden, Arps' Employment as Bankruptcy Counsel
GWI, INC.: Asks Court to Establish November 27 Claims Bar Date
GWI, INC.: Taps Leary, Masson & Assoc. as Financial Advisor
HARNISCHFEGER INDUSTRIES: HII Agrees to Lift Stay to Liquidate Claim
HOME HEALTH CORP: Looks for 90 Additional Days to Make Decisions on Leases

IMPERIAL HOME: Delaware Court Grants Exclusivity Extension to Dec. 18
JITNEY JUNGLE: Announces Stores Sale To Winn-Dixie and Bruno's Supermarkets
LANGSTON CORP.: Committee Selects Klehr, Harrison as Legal Counsel
LANGSTON CORP: Court Enters Final Order Approving DIP Financing Pact
LAROCHE INDUSTRIES: Creditors Must File Proofs of Claim by Dec. 22

LIBERTY HOUSE: Announces Joint Reorganization Plan with General Growth
LIBERTY HOUSE: Solicits Acceptances of Joint Plan & Decries JMB Plan
LINC CAPITAL: Announces Sale Business Unit $20M to $22M to Pay Down Debts
LOEWEN GROUP: Upbeat Third Quarter Results Pave Way for Nov. 15 Plan Filing
MEDPARTNERS PROVIDER: 2nd Amended Plan Declared Effective on Oct. 16

MILLENIUM HOLDINGS: Aircraft Refurbisher Files for Chapter 11 Protection
OAKWOOD HOMES: S&P Lowers Corporate Rating to B- & Senior Notes to CCC
OWENS CORNING: Obtains Okay to Maintain Existing Bank Accounts
ROSSIYSKIY KREDIT: U.S. Bankruptcy Court in New York Assists Russian Bank
SAFETY-KLEEN: Allwaste Moves for Relief From Stay To Continue Texas Lawsuit

STELLEX TECHNOLOGIES: Committee Objects to Debtor DLJ Engagement Terms
TEXFI INDUSTRIES: Closes on $25 Million DIP Financing Facility with CIT
TOKHEIM CORP: Schlumberger Limited Appeals from Confirmation Order
TURKEY'S BANK: Following Takeover, Fitch Places Ratings on Negative Watch
UNDIGITAL, INC.: U.S. Trustee to Convene Meeting of Creditors on Nov. 20

VENCOR, INC.: Signs Stipulation Allowing Filing of Tardy Proofs of Claim

* Meetings, Conferences and Seminars

                                *********

ALLIED DIGITAL: Americ Disc Announces Agreement To Purchase Company Assets
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Americ Disc announced that it signed a letter agreement under which it will
acquire some of the compact disc and audio cassette manufacturing assets of
Allied Digital Inc., headquartered in Hauppauge, N.Y., according to a
newswire report. A company with whom Americ Disc has a cooperation
agreement is acquiring its VHS division. Allied Digital has two plants, one
in Knoxville, Tenn. and one in Hauppauge. Its annual revenues are about
$200 million dollars with 30 percent of its income coming from the
production of CDs and audio cassettes. Because Allied is under bankruptcy
protection, the transaction is contingent upon the approval of American
regulatory bodies. Americ Disc is a supplier of manufacturing services for
CDs, DVDs and other digital discs.  (ABI 30-Oct-00)


BLUESTAR BATTERY: Creditors Announce Approval of Reorganization Plan
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The creditors of BlueStar Battery Systems International Corp. and Bluestar
Systems Canada Corp. overwhelmingly approved the plan of reorganization
filed under the Companies' Creditors Arrangement Act whereby the existing
shares of BlueStar International, which are traded on CDNX, will be
consolidated into 1.5 million new shares and 12.5 million new shares will
be issued to BlueStar's unsecured creditors who hold in excess of $50
million in claims. The approval of 99% in value and 96.3% in number of the
creditors voting easily exceeded the statutory requirement of approval by
66 2/3% in value and 50% in number.

"We look forward to putting this chapter behind us and heading into what we
believe is a bright future for the Company" said Marty Kittrell, Executive
Vice President of Finance and Administration. "We will immediately start to
concentrate on building value for all shareholders", Mr. Kittrell added.

BlueStar had filed for protection under the Companies' Creditors
Arrangement Act on September 5th. "I don't know if this is a record, but it
certainly has to be one of the fastest reorganizations done under the
CCAA", said Derrick Tay, Esq., of Meighen Demers, lawyer for BlueStar.
The next step will be an application for approval of the Plan by the
Ontario Superior Court of Justice. This application will be heard on
October 31st by Mr. Justice James Farley.

Implementation of the Plan also requires approvals from various provincial
securities commissions and the Canadian Venture Exchange, which have been
applied for.

The Canadian Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.


CARMIKE CINEMAS: Valley View Mall Says Rent Payments are in Default
-------------------------------------------------------------------
Seeking unpaid rent, The Roanoke Times reports, Valley View Mall has filed
suit in Roanoke Circuit Court against its former tenant.  Carmike Cinemas,
Inc., which is under Chapter 11, missed its obligations between January and
late August.  The suit states that Valley View wants a $124,191 payment for
the said months.  Harcourt General Inc., Carmike's guarantor of its lease
at Valley View is said to be at fault for the missed payments.  The mall's
attorney, James Douthat, Esq., says that the rent each month includes
maintenance, marketing, central air, and water and sewer fees.


CLARIDGE HOTEL: State Regulators Convene to Review Ichan Proposal
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The struggle over who will bring Claridge Hotel and Casino Corp. out of its
bankruptcy has been the topic of conversation for casino regulators at a
three-day hearing, The Associated Press reports.  The Casino Control
Commission is determining whether Carl Icahn might monopolize the casino
industry over Atlantic City if the Honorable Judge Wizmur approves Icahn's
new bid on Nov. 13 and whether this will cause "undue economic
concentration".

In a five-hour hearing last week before the Commission, economists were
called to testify.  There was also an exchange between Park Place executive
Wallace Barr and Icahn lawyer Hersh Kozlov.  Kozlov stated before the
commission that Park Place undermines its neighbors by eliminating
competitiveness.


CONTIFINANCIAL CORP: Proposes $300,000 Transition Employee Severance Plan
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Contifinancial Corporation, et al. seek bankruptcy court authority to
implement a Severance Plan for the retention of Transition Employees.

The debtors require the assistance of the Transition Employees who are
familiar with their businesses and books and records. The debtors believe
that unless the Severance Plan is approved and implemented in an expedited
manner, the debtors will lose the Transition Employees, who are necessary
for these cases to proceed in an orderly and economical manner. The
Severance Plan is necessary to induce the Transition Employees to remain
with the debtors through the conclusion of the cases. The debtors do not
expect the aggregate liability for the severance plan to exceed $330,000.
  
The amount of severance pay is equal to six weeks of Base Pay subject to
certain reductions.  Dewey Ballantine LLP and Togut, Segal & Segal LLP
represent the debtors.


CORAM HEALTHCARE: Confirmation Hearing Scheduled for Dec. 1 in Wilmington
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A hearing to consider confirmation of the plan of Coram Healthcare Corp.
and Coram, Inc. will be held before the Honorable Mary F. Walrath, District
of Delaware, on December 1, 2000 at 9:00 AM.

Attorneys for the debtors are Kasowitz, Benson Torres & Friedman LLP and
Pachulski, Stang, Ziehl, Young & Jones, PC. Weil, Gotshal & Manges are
attorneys for the Senior Noteholders; Wachtell, Lipton, Rosen & Katz are
attorneys for the Official Committee of Unsecured Creditors together with
Richards, Layton & Finger, PA.


EQUALNET COMMUNICATIONS: Opposes Dismissal or Conversion of Chapter 11 Case
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EqualNet Corporation and its affiliates oppose the motion of the Unsecured
Creditors' Trust to dismiss or convert the case. The debtor states that its
business is continuously in a state of flux.

The debtor claims that the Official Committee of Unsecured creditors also
opposes the Trust's motion, realizing that the only hope of realizing
anything on their constituents' claims is based upon the debtors' going
concern values in Chapter 11. The debtor states that the fact that the
Committee and RFC(the lender) support the reorganization attempts at this
point in time is a factor that the Court should weigh heavily in its
deliberations regarding the debtor's good faith.

On September 22, 2000, the US Bankruptcy Court, Southern District
of Texas, Houston Division, entered a fourth interim order authorizing
postpetition financing and use of cash collateral pursuant to the debtors'
motion for entry of an order authorizing postpetition financing
and the sue of cash collateral.


FIRST ALLIANCE: FTC File Class Action Suit on Borrowers' Behalf
---------------------------------------------------------------
The Federal Trade Commission has brought an action against First Alliance
Corp. on behalf of certain of the bankrupt lender's borrowers, according to
a Form 10-Q filed recently with the Securities and Exchange Commission. The
suit, filed this month in the U.S. Bankruptcy Court in Santa Ana, Calif.,
alleges that the liquidating lender failed to substantiate advertising
claims regarding the cost savings of debt consolidation loans,
misrepresented loan terms and violated a regulation governing consumer
booklets. The FTC is seeking injunctive relief to rescind certain loans
and/or to reimburse lenders for certain losses. The SEC filing doesn't
disclose the amount of any damages sought in the complaint.  (New
Generation Research, Inc., 30-Oct-00)


FRUIT OF THE LOOM: Replacing Letters of Credit Backing Headquarters IRBs
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During 1987, in Warren County, Kentucky, Union Underwear, a unit of Fruit
of the Loom, developed a tract of land and constructed buildings that
include Fruit of the Loom's corporate headquarters in Bowling Green,
Kentucky. Fruit of the Loom leases the complex from Warren County. Warren
County helped finance the project through the purchase of industrial
revenue bonds from Fruit of the Loom, which bear interest at a below market
rate of 4%. The industrial revenue bonds are supported by a letter of
credit. Under Section 5.8 of the lease, Union Underwear was authorized to
obtain alternate security in the form of a new letter of credit. In 1993,
Bank of America, N.A., issued the new letter of credit and assumed
accompanying responsibility.

The letter of credit expires on November 12, 2000. Bank of America believes
it cannot extend a prepetition letter of credit because Section 364 does
not authorize such action. As a result, the indenture trustee states it
will force redemption of the industrial revenue bonds pursuant to Section
3.1.5 of the indenture. This will cause a draw down on the letter of
credit. As a result of the draw, several things will happen. First, Fruit
of the Loom will lose the benefit of below market financing. Second, Bank
of America will have a reimbursement claim that, pursuant to the Court's
adequate protection order, is entitled to adequate protection in the form
of postpetition interest payments at approximately 10.5%. Third, if the
value of Fruit of the Loom headquarters in Bowling Green, Kentucky is equal
to or greater than the amount of Bank of America's reimbursement claim,
Bank of America can demand payment in full, including pre and postpetition
interest, fees, costs and expenses, in accordance with Section 506.

An appraisal of Fruit of the Loom headquarters by William Frank Newman &
Associates, on January 22, 1990, concluded the fair market value of the
property was $9,100,000. A current appraisal has not been conducted.

Bank of America tells Fruit of the Loom that, upon a draw on the letter of
credit by the indenture trustee, it will place a lien on the buildings in
Bowling Green, Kentucky, securing its reimbursement claim of $7,600,000.

To prevent redemption of the industrial revenue bonds and the attendant
draw on the existing letter of credit, Fruit of the Loom requests that
Judge Walsh authorize a replacement letter of credit as a substitute for
the existing letter of credit.

To avoid this situation, Fruit of the Loom requests the DIP Agent to issue
a replacement letter of credit in accordance with Section 2.4 of the DIP
financing agreement. The indenture trustee informs Fruit of the Loom it
will accept a replacement letter of credit and will not draw upon it if
payment default occurs. The replacement letter of credit must be identical
in all material respects to the existing letter of credit.

Considering the issue, Judge Walsh granted the Debtors' Motion in all
respects. (Fruit of the Loom Bankruptcy News, Issue No. 15; Bankruptcy
Creditors' Service, Inc., 609/392-0900)


GRAND UNION: C&S Wholesale Announces Intent To Purchase Retailer's Assets
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The Grand Union Company (OTC BB: GUCO), announced that it has entered into
a letter of intent providing for the purchase by C&S Wholesale Grocers,
Inc. of substantially all of the Grand Union Company's assets and business.

Under the terms of the letter of intent, C&S, which is Grand Union's
principal supplier, will pay slightly in excess of $300 million in cash
upon closing of the transaction. Included in the assets to be acquired
pursuant to the letter of intent, are approximately 185 of Grand Union's
197 stores and the Company's distribution center in Montgomery, New York.
C&S intends to assign its right to purchase certain of these assets to
third parties.

The closing of the transaction is subject to the signing of a definitive
agreement and other customary closing conditions, including governmental
antitrust approval, Bankruptcy Court approval and C&S obtaining financing
pursuant to a bank commitment letter, which it expects to obtain shortly.

This transaction will also be subject to higher or better bids for Grand
Union's assets, which may be obtained at an auction to be held on November
16, 2000, pursuant to Bankruptcy Court procedures. Grand Union anticipates
that a definitive agreement would be entered into prior to the auction.
Based on the C&S letter of intent and indications of interest received from
other parties, Grand Union does not believe that any distribution will be
made to its shareholders or warrant holders following the completion of the
sale process or pursuant to a chapter 11 reorganization plan.

Grand Union filed a voluntary chapter 11 petition in the U.S. Bankruptcy
Court in Newark, New Jersey on October 3, 2000, with the stated intention
to facilitate the planned sale of the Company and provide for additional
funding during the sale process.

Grand Union operates 197 retail food stores in Connecticut, New Jersey, New
York, Pennsylvania and Vermont.


GWI, INC.: Court Okays Skadden, Arps' Employment as Bankruptcy Counsel
----------------------------------------------------------------------
By order entered on October 10, 2000, Judge Mary F. Walrath, Bankruptcy
Court, District of Delaware, entered an order authorizing the employment
and retention of Skadden, Arps, Slate, Meagher & Flom LLP as GWI, Inc.'s
attorneys.


GWI, INC.: Asks Court to Establish November 27 Claims Bar Date
--------------------------------------------------------------
GWI, Inc., et al., ask the U.S. Bankruptcy Cout for the District of
Delaware to set November 27, 2000 at 5:00 PM as the deadline for filing
proofs of claim. Attorneys for the debtors are Jay M. Goffman, Carlene J.
Gatting, Alan Carr of Skadden, Arps, Slate, Meagher & Flom LLP (New York)
and Gregg M. Galardi and Grenville R. Day of the same firm, Wilmington, DE.


GWI, INC.: Taps Leary, Masson & Assoc. as Financial Advisor
-----------------------------------------------------------
GWI, Inc., et al. seeks authority from the U.S. Bankruptcy Court to employ
and retain Leary, Masson & Associates as its financial advisor in its
chapter 11 resturcturing.  

Specifically, the firm will render the following services for the SFC New
Holdings Inc. in connection with a sale, merger, consolidation or other
business combination, in one or a series of transactions, involving all or
a substantial amount of the business, securities, or assets of the Bakery
Cafe Division, which include the following:

    (a) Assisting in preparing an offering memorandum describing the Bakery
         Cafe Division, its operations, its historical performance and its
         future prospects;

    (b) Identifying and contacting selected qualified acquirers acceptable
         to the debtors;

    (c) Arranging for potential acquirers to conduct business
         investigations;

    (d) Negotiating the financial aspects of any proposed transaction under
         the debtors' guidance; and

    (e) rendering testimony if requested at a hearing to approve the
         transactionIn addition, in the event the firm first introduces the
         debtor to a buyer that is interested in acquiring the Bakery
         Division of Boudin and assists the debtor in concluding a
         transaction for both the Bakery C Division and the Bakery Cafe
         Division with such buyer, the firm shall be paid a transaction fee
         as follows:

         -- Transaction Value Transaction Fee Up to and including $2million
             5% of the first $2 million of Transaction value

         -- $over 2 million - $4 million 4% of Transaction value between $2
             and $4 million

         -- $over 4 million - $6 million 3% of Transaction value between $4
             and $6 million

         -- $over 6 million-$8 million 2% of  Transaction value between $6
             and $8 million

         -- $over $8 million 1% of Transaction value in excess of $8 million

The debtor paid the firm $60,000 as a one-time nonrefundable retainer for
financial services performed. The firm will apply to the court for
allowance of compensation for professional ]services rendered and
reimbursement of expenses incurred in these Chapter 11 cases.


HARNISCHFEGER INDUSTRIES: HII Agrees to Lift Stay to Liquidate Claim
--------------------------------------------------------------------
The Debtors consent to modification of the automatic stay to permit
Lorraine M. and Earl N. Anderson to continue prosecution of their
prepetition lawsuit against Harnischfeger Industries, Inc., and
Harnischfeger Corporation (Civil Action No. 98-C-1263), pending before the
U.S. District Court for the Eastern District of Wisconsin. The lawsuit
concerns the Debtors' discontinuation of post-retirement medical benefits.
Modification of the stay is limited to liquidation of the Anderson's
claims and does not permit enforcement. John D. Welmen, Esq., of Fair
Employment Legal Services, S.C., represents Mr. and Mrs. Anderson.
(Harnischfeger Bankruptcy News, Issue No. 28; Bankruptcy Creditors'
Service, Inc., 609/392-0900)


HOME HEALTH CORP: Looks for 90 Additional Days to Make Decisions on Leases
--------------------------------------------------------------------------
Home Health Corporation of America, Inc. et al. seeks court authority to
extend the time within which the debtors may assume or reject unexpired
leases of nonresidential real property. A hearing on the motion will be
held before the Honorable Mary F. Walrath in the Bankruptcy Court,
Wilmington, DE on November 2, 2000 at 10:30 AM. Co-counsel to the debtors
are Charlene D. Davis and Steven M. Yoder, The Bayard Firm, Wilmington,
Delaware and Gary D. Bressler and Alan I Moldoff, Adelman Lavine Gold and
Levin.

The debtors are parties to a great many unexpired leases of nonresidential
real property pertaining to commercial sales, storage, patient visitation
and executive and administrative offices in various states around the
country.

The debtors request that the court extend the date by which the debtors may
assume or reject unexpired leases for an additional 90 days. The debtors
are currently engaged in the process of developing a framework of a plan of
reorganization in consultation with their principal creditor
constituencies.

The debtors will continue to evaluate the unexpired leases on an ongoing
basis and will file appropriate motions in respect thereof as son as
informed decisions can be made.


IMPERIAL HOME: Delaware Court Grants Exclusivity Extension to Dec. 18
---------------------------------------------------------------------
The Imperial Home Decor Group Inc. said that the United States Bankruptcy
Court for the District of Delaware extended the period in which the company
has the exclusive right to file and advance a plan of reorganization in its
chapter 11 case.

IHDG has been granted another 60 days, until December 18, 2000, in which
the company has the exclusive right to file a plan of reorganization. The
company also has the exclusive right for another 60 days after that date,
until February 16, 2001, to solicit creditors to vote for the plan.

As reported on October 19, IHDG's bank lenders and the Official Committee
of Unsecured Creditors in the company's chapter 11 case indicated their
support for the extension of the exclusivity period for IHDG.

"We are eager to put chapter 11 behind us," said Doug Kelly, president and
chief executive officer of IHDG. "We are all focused on a stand-alone plan
of reorganization. We expect to conclude our discussions with our creditors
regarding the anticipated capital structure of the company in the near
future."

In keeping with this strategy, the following restructuring tactics have
taken place. The company has reduced its workforce worldwide by
approximately 11% and aligned its production capacity to market demand.
Worldwide sales through October are estimated to be in excess of $300
million, and the company's EBITDA projections are within target of its
chapter 11 business plan.

Imperial Home Decor Group is the world's largest designer, manufacturer and
distributor of residential wallcovering products. IHDG also markets
commercial wallcoverings and is a premiere supplier of pool liners through
its subsidiary, Vernon Plastics, Inc. Headquartered in Cleveland, Ohio,
IHDG supplies home centers, national chains, independent dealers, mass
merchants, design showrooms and specialty shops. Product lines include the
Imperial, Katzenbach & Warren, Albert Van Luit, Sterling Prints, Imperial
Fine Interiors, Sunworthy and Colorfields. The company was created in 1998
through the merger of Imperial Wallcoverings and Borden Decorative
Products.


JITNEY JUNGLE: Announces Stores Sale To Winn-Dixie and Bruno's Supermarkets
---------------------------------------------------------------------------
Jitney Jungle announced that it has agreements with Winn-Dixie Stores, Inc.
and Bruno's Supermarkets, Inc. to sell in the aggregate 89 grocery stores,
34 fuel centers and 5 liquor stores. Jitney-Jungle Stores of America, Inc.,
headquartered in Jackson, Mississippi, has been operating under Chapter 11
of the Bankruptcy Code, since October 12, 1999.

"These transactions represent a significant step in the resolution of
Jitney Jungle's bankruptcy," said Ronald E. Johnson, Jitney Jungle's Chief
Executive Officer. "We have greatly improved the operations while operating
under Chapter 11 and believe that Winn-Dixie and Bruno's will receive
significant value from the Jitney Jungle and Delchamps franchises. We thank
our customers and vendors for supporting our restructuring efforts. The
Jitney Jungle and Delchamps stores are in the best shape that they have
been since our bankruptcy filing. We are well-stocked for the Thanksgiving
and Christmas holiday selling season. We look forward to seeing all of our
customers today and everyday at their favorite Jitney Jungle store
locations through the holidays and into the coming year."

The sales are expected to be completed during January 2001. The
transactions are subject to bankruptcy court and governmental approvals.
Both Winn-Dixie and Bruno's have agreed to accept employment applications
from all the Jitney employees at the stores to be acquired. According to
Allen R. Rowland, Winn-Dixie President and Chief Executive Officer, "Adding
excellent retail store management and employees to our company is
exciting." Further, James A. Demme, President and Chief Executive Officer
of Bruno's, commented that, "Bruno's is looking forward to welcoming the
Jitney employees to the Bruno's family."

Most of the stores being acquired by Winn-Dixie will continue to operate
under their current Jitney Jungle and Delchamps banners. Bruno's will
convert each of the stores it is acquiring into one of its formats.

Jitney Jungle currently operates 137 grocery stores, 42 gas stations and 9
liquor stores. Under terms of these transactions, Jitney will continue to
operate the sold stores until the transactions are completed. Additionally,
Jitney continues to explore strategic alternatives for its remaining
operating stores, fuel centers, and liquor stores.


LANGSTON CORP.: Committee Selects Klehr, Harrison as Legal Counsel
------------------------------------------------------------------
The Official Committee of Unsecured Creditors of The Langston Corporation
applies for approval to retain Klehr, Harrison, Harvey, Branzburg & Ellers
LLP as counsel to the Committee.

The firm will render the following services to the Committee:

    a. Attend hearings in the cases and in related proceedings as necessary;

    b. Review applications and motions filed in connection with the case;
   
    c. Communicate with and advise the Committee on all matters and legal
        issues arising in the case or related proceedings and periodically
        attend meetings of the Committee;

    d. Attend meetings with, and negotiate with, the representatives of the
        debtors;

    e. Assist and advise the Committee in its examination and analysis of
        the debtor's affairs;

    f. Assist the Committee in its review, analysis and negotiations of any
        financing or cash collateral agreements;

    g. Assist the Committee in its review of proposed offers to purchase
        substantially all of the assets of the debtor, participate in and
        oversee the auction process, and further assist the Committee in all
        aspects of the sale process;

    h. Assist the Committee in the review, analysis and negotiation of any
        chapter 11 plan(s) that may be filed and to assist the Committee in
        the review, analysis and negotiation of the disclosure statement
        accompanying any chapter 11 plan(s)

I. Assist the Committee in its review of any potential causes of action
available to or for the benefit of the debtor's estate.

Klehr, Harrison will bill at its normal hourly rates as follows:

    Partners:          $375 - $295
    Associates:        $250 - $150
    Paralegals:        $105


LANGSTON CORP: Court Enters Final Order Approving DIP Financing Pact
--------------------------------------------------------------------
The US Bankruptcy Court for the District of Delaware entered an order
on October 13, 2000 authorizing the debtor, The LANGSTON Corporation to
obtain post-petition financing and to use cash collateral. Fleet Capital
Corporation is the lender, BancBoston Investments, Inc. is the guarantor
and the Official Committee of Unsecured Creditors join in the stipulation
and agreement. The Guarantor asserts a subrogated claim against the debtor
in the sum of $7 million. The debtor owes approximately $30.5 million under
the pre--petition agreements.

The court authorized the Lender to advance such funds to debtor as are
necessary to continue the operations of the debtor and to enable the debtor
to make the payments in the Budget, limited to a Revolving Loan Commitment
of no greater than $14.3 million. Debtor's counsel is Michael R. Lastowski,
Duane, Morris & Heckscher LLP (Delaware) and Claudia Springer of the same
firm, Philadelphia, Pennsylvania. Counsel to the creditor's committee is
Joanne B. Wills and Dominic Pacitti, Klehr, Harrison, Harvey, Branzburg &
Ellers LLP, Wilmington, DE.


LAROCHE INDUSTRIES: Creditors Must File Proofs of Claim by Dec. 22
------------------------------------------------------------------
Pursuant to an order of the US Bankruptcy Court, District of Delaware,
entered on October 12, 2000, all creditors of debtors are required to file,
on or before 4:00 PM, on December 22, 2000, a completed and executed proof
of claim form against either of the debtors, Laroche Industries Inc. and
Laroche Fortier, Inc.


LIBERTY HOUSE: Announces Joint Reorganization Plan with General Growth
----------------------------------------------------------------------
General Growth Properties Inc. (GGP) announced that an affiliate of GGP,
with JMB Realty Corp. and the other owners of Liberty House Inc. reached
agreement to propose a joint plan of reorganization for Liberty House,
according to a newswire release. Liberty House is Hawaii's premier local
department store chain. The company operates 12 department stores in Hawaii
including its 330,000 square foot flagship store at Ala Moana Center. In
addition, the company operates a department store on the island of Guam.
General Growth Properties, Inc. is one of the oldest shopping center
owners, developers and managers in the United States.

Together, GGP and the Owners filed an amended reorganization plan for
Liberty House and an accompanying draft of a disclosure statement in the
U.S. Bankruptcy Court for the District of Hawaii. U.S. Bankruptcy Judge
Lloyd King must approve the adequacy of the draft disclosure statement
before GGP and the owners can begin to solicit acceptances of their
proposed joint plan. The joint plan of reorganization and disclosure
statement would replace the plan and disclosure statement sponsored by the
owners earlier this year. Earlier this month, the Bankruptcy Court had
approved the adequacy of the disclosure statement associated with that
plan, but it has not been circulated to creditors.(ABI, 30-Oct-00)


LIBERTY HOUSE: Solicits Acceptances of Joint Plan & Decries JMB Plan
--------------------------------------------------------------------
John Monahan, President and Chief Executive Officer and Phillip Fong, Vice
President, Research & Financial Analysis of Liberty House, Inc wrote a
letter to the Trade Creditors and other holders of unsecured claims
of Liberty House on October 19, 2000, encouraging them to vote for the
joint plan. Liberty House's management, with the approval of one of its two
boards of directors and certain of Liberty House's secured creditors
jointly filed a plan of reorganization and a related disclosure statement
for Liberty House.

On October 10, 2000, the Bankruptcy Judge presiding over Liberty House's
Chapter 11 case approved the disclosure statement with respect to the Joint
Plan and authorized Liberty House to ask all creditors to accept the Joint]
Plan.

Under the Joint Plan, the officers claim that the company will shed nearly
all of its current debt load, permitting Liberty House to emerge from its
Chapter 11 reorganization case as a revitalized competitor in the Hawaii
and Guam marketplaces and as a stable customer for the vendor and factor
communities.

The officers state that the trade creditors and other holders of unsecured
claims will also receive a different plan of reorganization for Liberty
House as proposed by the existing stockholders of liberty House and certain
of their affiliates. That plan is identified as the "Plan of Reorganization
of Equity Holders, JMB Realty Corporation and Pacific Lease Finance, LLC."
The JMB Plan provides for Liberty House to emerge from bankruptcy burdened
with secured debt of approximately $105 million to $110 million. This is
not much less than the $150 million in secured debt that was owed by
liberty House when it was forced to file for bankruptcy in the spring of
1998.

In contrast to the Joint Plan, the JMB plan does, not, according tot he
officers, provide for a thorough rehabilitation of Liberty House's
financial affairs.

Furthermore, they claims that the JMB plan proposes a treatment for Liberty
House's principal secured creditors that will be rejected by those
creditors and will not likely be imposed upon the secured creditors over
their objections. It is unlikely that that the JMB Plan will be confirmed
by the Bankruptcy Court or successfully implemented, and Liberty Houses'
management believe stoat voting in favor of the JMB plan will only result
in further delay of payment of the claims of creditors.


LINC CAPITAL: Announces Sale Business Unit $20M to $22M to Pay Down Debts
-------------------------------------------------------------------------
Expecting proceeds of $ 20 to $ 22 million, Linc Capital Inc. (LNCCE) from
the sale of its analytical instrument rental and distribution business, Dow
Jones reports, the proceeds will be used to pay down debts.  Linc Capital
is pursuing this out-of-court sale in an effort to avert a bankruptcy
filing.  

As reported in the Troubled Company Reporter in March and August of this
year, Linc Capital had defaulted on certain loan covenants.  Assets of Linc
Capital primarily consist of a non-securitized lease portfolio, its
analytical instrument rental and distribution business, its equity interest
in its equipment lease securitization entities, and equity interests in
select growth lessees.


LOEWEN GROUP: Upbeat Third Quarter Results Pave Way for Nov. 15 Plan Filing
---------------------------------------------------------------------------
The Loewen Group Inc. (TSE: LWN), announced its unaudited results for the
quarter ended September 30, 2000 and commented on the progress of its
reorganization since the Company was granted court protection from
creditors on June 1, 1999. Earnings from operations were $16.6 million in
the third quarter, down $4.3 million from the same quarter of 1999. After
pre-tax reorganization costs of $11.0 million, the Company reported a net
loss of $3.0 million on gross revenue of $206.2 million for the quarter
ended September 30, 2000. This compares with a net income of $1.9 million
after pre-tax reorganization costs of $11.2 million on gross revenue of
$234.0 million for the quarter ended September 30, 1999.

For the nine months ended September 30, 2000, earnings from operations,
before deducting non-cash provisions for asset impairment, were $87.6
million compared with $109.5 million for the same period in 1999. For the
nine months ended September 30, 2000, the Company reported a net loss of
$56.5 million after a pre-tax asset impairment of $92.0 million on gross
revenue of $681.9 million compared to a net loss of $96.5 million on gross
revenue of $800.3 million for the nine months ended September 30, 1999. The
Company's cash position as of September 30, 2000 was $ 138.5 million, an
increase of $83.3 million from December 31, 1999.

                          Reorganization Progress

John S. Lacey, Chairman of the Board, stated "We are continuing to make
excellent progress in the reorganization of the Company. The restructuring
of operations management has now been completed in all of our U.S. markets.
Each of the new market management teams is focused on establishing Loewen
as a leader in customer service in every region in which the Company does
business. Over the longer term, the efforts of our new market management
teams should result in improved customer service and should strengthen the
Company's competitive position."

Mr. Lacey added, "Looking back over the past nine months, I am impressed by
the way in which Loewen's employees have embraced change and have committed
themselves to reinventing our business. Much has been accomplished, but
there is considerable work still to be done. We are improving our
information systems, enhancing purchasing functions and continuing to re-
engineer our administrative processes. The Company's efforts to reduce
general and administrative expenses are ahead of schedule."

The Company continues its intensive efforts to evaluate and resolve claims
and to address other issues presented by the Chapter 11 and CCAA
proceedings. Over the past two months, the Company has engaged in extensive
discussions with major creditor groups relating to the terms of the
Company's reorganization. "As we have stated before," Mr. Lacey said, "we
are committed to emerging from Chapter 11 and the CCAA proceedings at the
earliest feasible time. To that end, the Company expects to file with the
U.S. Bankruptcy Court on or before November 15, 2000, a Plan of
Reorganization and Disclosure Statement that will describe the proposed
structure and business operations of the reorganized company and will
provide a proposed schedule of creditor recoveries. The Plan will propose
that the Company's 7.75% Series 3 Senior Notes, 8.25% Series 4 Senior
Notes, 7.20% Series 6 Senior Notes, 7.60% Series 7 Senior Notes and 6.70%
Pass-Through Asset Trust Certificates (collectively, the "Subject Debt")
all be treated as secured debt of the Company. This Plan, which is subject
to Court and creditor approval, will represent a major step forward in the
restructuring of the Company. There can be no assurance, however, that the
Bankruptcy Court will approve the Plan of Reorganization in the form
proposed, including the Company's proposal to treat the Subject Debt as
secured debt of the Company. Further, the Company anticipates that certain
creditors of the Company are likely to challenge the proposed Plan.
Moreover, it is regrettable that it is not expected that there will be any
value distributed to existing shareholders."

                             Disposition Program

Our program to divest non-strategic assets is also moving forward at an
accelerated pace. Transactions involving sales proceeds of more than $46
million have either already been approved by the Bankruptcy Court or have
been signed and submitted for approval.

Based in Vancouver, The Loewen Group Inc. currently owns or operates more
than 1,100 funeral homes and more than 400 cemeteries across the United
States, Canada, and the United Kingdom. The Company employs approximately
13,000 people and derives approximately 90 percent of its revenue from its
U.S. operations.


MEDPARTNERS PROVIDER: 2nd Amended Plan Declared Effective on Oct. 16
--------------------------------------------------------------------
On September 14, 2000, the US Bankruptcy Court for the Central District of
California, the Honorable Barry Russell presiding, entered the order
confirming the Second Amended Chapter 11 Plan of MedPartners Provider
Network, Inc., dated July 7, 2000. MPN has determined that all conditions
to the effectiveness of the plan have been met. Accordingly, October 16,
2000 is the Effective Date of the plan.


MILLENIUM HOLDINGS: Aircraft Refurbisher Files for Chapter 11 Protection
------------------------------------------------------------------------
Millennium Holdings Corp., an aircraft refurbishing company, filed for
Chapter 11 last week to delay eviction from the former Dallas Naval Air
Station for failure to pay rent, according to the Fort Worth Star-Telegram.
The company filed for bankruptcy the day the eviction trial was to begin in
a Dallas County court.  The city contends the company has not paid rent
since moving to the site about 18 months ago and owes $2 million.  The
bankruptcy filing halts all litigation.

Millennium officials said that under the lease agreement, the company does
not have to pay rent until Dallas relinquishes all of the property.
Millennium cannot use about 35 of its 500 acres at the site because of
environmental reasons, including contaminated ground water, company
officials said. The city is negotiating environmental cleanup efforts with
the Navy. (New Generation Research, Inc., 30-Oct-00)


OAKWOOD HOMES: S&P Lowers Corporate Rating to B- & Senior Notes to CCC
----------------------------------------------------------------------
Standard & Poor's today lowered its corporate credit rating on Oakwood
Homes Corp. to single-'B'-minus from single-'B'-plus.

In addition, ratings on the company's senior notes were lowered to triple-
'C' from single-'B'-minus. All ratings were removed from CreditWatch, where
they were placed on June 21,1999. The outlook is negative.

The rating actions acknowledge the challenges that will continue to face
Oakwood as it seeks to further rationalize its large retail, manufacturing,
and financing network within an industry struggling with both overcapacity
and constrained liquidity.

Aggressive inventory and overhead reductions, roughly $100 million and $80
million, respectively, over the past year have enabled Oakwood to meet its
current debt obligations and repay some debt. The company's working capital
position was also bolstered by the recent extension of its $75 million
secured revolver through August 2001, and Oakwood continues to have access
to a $250 million secured line for the warehousing of its originated loans.
While both of these lines reflect reduced capacity, they appear
sufficiently sized relative to current sales levels, which are down about
23% from the same period last year. Covenants for the two crossdefaulted
facilities have been revised so as to provide for some operating
flexibility.

Standard & Poor's does believe, however, that Oakwood's current operating
loss position will continue well into the coming year, due to lower volumes
at manufacturing, continued pricing pressures at retail, and higher costs
within its captive finance unit. In addition, the company's recently
revamped management team may need to further rationalize operations in
response to the current industry contraction, which has been sharper and
more protracted than most participants had expected, particularly given the
relative health of the broader economy. EBITDA, which has dropped very
sharply over the past year, remains modestly positive, but insufficient to
cover current interest obligations. Working capital provided from inventory
liquidations and the add back of numerous noncash charges is presently
enabling coverage of the company's $11 million in quarterly interest.
As a fully vertically integrated player, Oakwood finances most of its sales
via its captive finance subsidiary, which relies almost exclusively on the
securitization market for permanent funding. Over the past year, the
company has had to absorb losses on its completed securitizations due to
wider credit spreads in the asset-backed market and negative delinquency
and repossession trends within its own large servicing portfolio. Given
Oakwood's current capital constraints, there will be a limit to how long
the company can pursue this financing strategy.

OUTLOOK: NEGATIVE

Credit protection measures for Oakwood's unsecured bondholders remain very
weak and could deteriorate further should an economic slowdown be added to
current industry capacity and liquidity woes. As the manufactured housing
industry's largest retailer, and via its captive finance subsidiary, which
is also one of its largest lenders and servicers, Oakwood will remain very
vulnerable to current competitive conditions, Standard & Poor's said.


OWENS CORNING: Obtains Okay to Maintain Existing Bank Accounts
--------------------------------------------------------------
The Operating Guidelines promulgated by the United States trustee require
that a chapter 11 debtor-in-possession close all of its bank accounts
immediately following the commencement of a chapter 11 petition. The
chapter 11 debtor is then supposed to open three post-petition bank
accounts: one for general receipts and disbursements, one for payroll and
one for taxes.

The Debtors tell the Court that they and their non-debtor affiliates
maintain a global network consisting of hundreds of bank accounts through
which funds from a local facility are deposited in a local bank and then
upstreamed to regional concentration accounts to fund centralized cash
management accounts. The Debtors believe that closing their bank accounts,
initiating and implementing new deposit procedures, and then working from
only three bank accounts would be unnecessarily disrupt their business and
would impair their reorganization efforts. Accordingly, the Debtors seek
relief from the U.S. Trustee's Operating Guidelines that require the
closing of all pre-petition bank accounts and the opening of three new bank
accounts designated for operating funds, payroll disbursements and taxes.

The Debtors are certain that they have adequate controls in place
to draw a bright line between prepetition and postpetition disbursements
and can prevent prepetition checks from being paid postpetition.

At the First Day Hearing, with the consent of the U.S. Trustee, Judge
Walrath granted the Debtors' Motion in all respects. (Owens-Corning
Bankruptcy News, Issue No. 2; Bankruptcy Creditors' Service, Inc., 609/392-
0900)


ROSSIYSKIY KREDIT: U.S. Bankruptcy Court in New York Assists Russian Bank
-------------------------------------------------------------------------
Alexander Livshits, the chairman of the board of Rossiyskiy Kredit Bank
("RKB"), announced that the United States Bankruptcy Court in New York City
entered an order on October 11, 2000 granting the Bank a permanent
injunction under Section 304 of the United States Bankruptcy Code
preventing creditors of RKB from bringing lawsuits or enforcing judgments
against RKB in the United States.

Mr. Livshits said, "The ruling in New York represents the first time a
bankruptcy court in the United States has given its assistance to the
reorganization of a Russian bank."

RKB, which had been the third largest bank in Russia, was badly affected by
the Russian financial crisis in 1998.

One year ago, the newly created Russian Agency for Reconstruction of Credit
Organizations, commonly known as ARCO, took over RKB and obtained a
moratorium (akin to an "automatic stay" in U.S. bankruptcy cases) which
prevented creditors from prosecuting lawsuits or collecting judgments
against RKB in Russia.

The moratorium resulted from newly adopted Russian laws, similar to chapter
11 of the U.S. Bankruptcy Code, designed for the reorganization of
financial institutions.

Given new statutory powers, ARCO and RKB proceeded to conclude negotiations
with an international creditors' committee on an Amicable Settlement under
which all of RKB's creditors, both Russian and foreign, will be repaid a
portion of their debts over several years, compared to the nearly total
loss which would have resulted from liquidating RKB.

Several European banks refused to take part in the restructuring under
ARCO's auspices and instead continued prosecuting a lawsuit in New York
against RKB and attempting to attach RKB's assets in the U.S. and
elsewhere.

Because the New York state court had no power to force the dissenting bank
creditors to participate in the Amicable Settlement, the Russian
reorganization proceeding was threatened with failure because RKB could not
conduct business if its assets could be attached in the U.S. or in other
countries which would enforce U.S. judgments.

Consequently, ARCO commenced an "ancillary proceeding" in the Bankruptcy
Court in New York in early August under provisions of U.S. law which allow
the Bankruptcy Court to block creditors from bringing lawsuits in the U.S.
against an enterprise which is the subject of a bankruptcy proceeding in
another country, such as Russia.

In early August, the U.S. Bankruptcy Court granted a temporary injunction
stopping lawsuits in the U.S. against RKB. Later in August, the Amicable
Settlement was approved by the Commercial Court in Moscow after 97% of
voting creditors decided to support the restructuring.

Standing by its preliminary ruling from early August in favor of ARCO and
RKB, the U.S. Bankruptcy Court on October 11 entered a permanent injunction
preventing all creditors from bringing lawsuits against RKB or attaching
its assets in the U.S.

Commenting on the October 11 ruling, Mr. Livshits that "the ruling in New
York is a milestone in the development of Russian financial institutions.
The Judge has ruled that Russian bankruptcy laws conform to international
norms and that creditors of insolvent Russian enterprises in the future
will be obliged to participate in Russian court supervised bankruptcies and
reorganizations. The ruling is an important stride toward giving Russia
access once again to the international capital markets."

RKB is the largest of the crisis stricken Russian banks to be taken over
and restructured by ARCO.

The New York office of Fulbright & Jaworski served as counsel for ARCO in
the New York Bankruptcy Court.


SAFETY-KLEEN: Allwaste Moves for Relief From Stay To Continue Texas Lawsuit
---------------------------------------------------------------------------
Allwaste Environmental Services of Texas, Inc., joined by its insurers
Reliance National Indemnity Co. and National Union Fire Insurance Co., has
filed a motion seeking relief from the automatic bankruptcy stay to
continue litigation pending in state court in Harris County, Texas, against
Safety-Kleen (Encotec), Inc., f/k/a Laidlaw Environmental Services, Inc.,
f/k/a Rollins Environmental Services, Inc.

Barry M. Klayman of the firm of Wolf, Block, Schorr and Solis-Cohen, and
Mark R. Pharr, III, of the firm of Galloway, Johnson, Tompkins, Burr &
Smith, representing the moving parties, asserts that in 1997 Allwaste
entered into a Waste Transport Contract with Rollins, the Debtor's
predecessor in interest, to transport waste materials from a facility owned
and operated by Rubicon, Inc. in Giesmar, Louisiana, to Rollins' waste
disposal facility in Deer Park, Texas. Allwaste asserts that Rollins
represented and warranted that the properties, composition and
characteristics of the waste would conform to shipping manifests provided
to Allwaste.

On March 26, 1997, an Allwaste vehicle transporting waste materials for
Rollins from the Rubicon facility was involved in an accident which
resulted in a spill of waste materials. Allwaste asserts that a
substantial factor in the accident was the negligence of Rollins and
Rubicon in failing to properly dewater the waste materials prior to
shipment in Allwaste's vehicle.

As a result of the spill, numerous claims have been made and lawsuits filed
against Allwaste and its insurers, Reliance and National Union, and various
other parties in state courts in Louisiana and Texas for monetary claims
arising from personal injuries and property damage. While some of these
claims and lawsuits have been settled by Allwaste and its insurers, others
remain pending.

On March 27, 1998, Allwaste and its insurers filed an action in the
District Court of Harris County, Texas, against the Debtor's predecessor-
in-interest, Laidlaw, and Rubicon as co-defendants. This suit was
subsequently removed to the United States District Court for the Southern
District of Texas, Houston Division, where it now pends. The plaintiffs in
this suit allege claims against the Debtor and Rollins for damages for
negligence, breach of contract, and breach of warranty, as well as claims
for indemnity, contribution and/or subrogation, for all costs, expenses,
settlements, and judgments incurred by and/or paid by the Movants in the
Louisiana and Texas state court cases against them. This litigation was in
the discovery process when the Debtor commenced its Chapter 11 case.

The Movants have alleged that no prejudice to the bankruptcy estate or the
Debtor will arise if the stay is partially modified to permit continuation
of the Texas litigation to determine the Debtor's liability, if any, to the
Movants. The Movants believe that the Debtor has insurance that will
provide payment for a defense and/or indemnity for the claims being
asserted against the Debtor in litigation. The Movants had made a discovery
request for evidence of such coverage prior to the commencement of the
Chapter 11 proceeding, but no production response was had before the
bankruptcy petition was filed. The Movants certify to the Bankruptcy Court
that they will prosecute the Texas litigation to judgment against the
Debtor and Rubicon, collect any damages awarded by the District Court in
Texas from the Debtor's insurer, and from Rubicon, and reserve to the
Bankruptcy Court any issues related to collection of any deductible from
the Debtor.

The Movants believe these factors will prevent any prejudice to the Debtor,
and that the balance of hardships facing the parties weighs in favor of
modifying the stay to permit the Movants to proceed with the litigation in
the federal District Court. If the stay is not modified, the Movants
assert they will face severe economic hardships due to pending litigation
against the Movants in the state courts of Texas and Louisiana, and as a
consequence of the monies already spent in adjusting the various third-
party claims against the Movants. Moreover, the Movants assert they would
be required to litigate their claims twice, once in the Texas federal court
against Rubicon and against in the Bankruptcy Court against the Debtor, and
that this duplicative litigation would be burdensome on the Movants and the
courts involved. (Safety-Kleen Bankruptcy News, Issue No. 8; Bankruptcy
Creditors' Service, Inc., 609/392-0900)


STELLEX TECHNOLOGIES: Committee Objects to Debtor DLJ Engagement Terms
----------------------------------------------------------------------
The Official Committee of Unsecured Creditors of Stellex Technologies, Inc.
and its affiliated debtors by and through their counsel, Cadwalader,
Wickersham & Taft, object to the debtors' application to retain Donaldson,
Lufkin & Jenrette Securities Corporation as financial advisor for Stellex
Technologies, Inc.

The Committee does not believe that the DLJ Application provides for
sufficient participation by the Committee in the sales process.

The Committee believes that DLJ should be required to give complete and
unfettered access to the Committee to all information regarding, and
personnel working on, the Sale s Process, including without limitation,
access to information regarding potential buyers, opportunities to
participate in telephone conference calls and meetings with potential
buyers, and the like. All such information should be provided to the
Committee contemporaneously with the furnishing of such information to the
debtors. The Committee states that its direct acce3ss to information should
be assured. The Committee request that the DLJ application be denied unless
the terms and conditions requested by the Committee are incorporated into
the order approving the retention of DLJ.


TEXFI INDUSTRIES: Closes on $25 Million DIP Financing Facility with CIT
-----------------------------------------------------------------------
Texfi Industries, Inc. (OTC Bulletin Board: TXFIE) announced it has
arranged a new revolving working capital financing with CIT Commercial
Services, a division of The CIT Group (NYSE: CIT) in the amount of
$25,000,000. The financing is for one year and requires the Company to
submit a reorganization plan by April, 2001. Texfi filed for protection
under Chapter 11 of the Bankruptcy Act in the Southern District of New York
on February 15, 2000, and has been operating as Debtor-in-Possession since
that date. The Company expects to submit its reorganization plan ahead of
schedule in 2001.

Commenting on the new financing for Texfi, CEO Andrew J. Parise said, "We
are extremely pleased to have this increased and longer term financing
available to the Company. We have made great progress over the past few
months and this facility will enable us to concentrate on strengthening our
business and building our market share."

"CIT is delighted to support Texfi in its reorganization effort," said John
F. Daly, President of CIT Commercial Services. "CIT has a long standing
relationship with Texfi and we are confident in management's ability to
facilitate the reorganization."

Texfi Industries, Inc. is a diversified manufacturer and marketer of
textiles. The Company manufactures woven finished fabrics sold throughout
the United States and exported to Asian and European markets. Texfi has
manufacturing plants in Rocky Mount and Haw River, North Carolina, and
Jefferson, Georgia.


TOKHEIM CORP: Schlumberger Limited Appeals from Confirmation Order
------------------------------------------------------------------
Schlumberger Limited is appealing Judge Walsh's order approving the
Disclosure Statement, solicitation and voting procedures and confirmation
of the joint prepackaged plan of reorganization of Tokheim Corporation and
its subsidiary debtors, entered on October 5, 2000.  Schlumberger raised a
number of objections which the Delaware Bankruptcy Court overruled.  
Schlumerger now tugs on the District Court judges robes in an effort to
undo the deals struck under the Prepackaged Plan.  


TURKEY'S BANK: Following Takeover, Fitch Places Ratings on Negative Watch
-------------------------------------------------------------------------
Following the takeover recently of Turkey's Bank Kapital by the Banking
Regulation and Supervision Agency (BRSA), Fitch, the international rating
agency, has placed the long-term foreign currency, local currency ratings
and short-term local currency rating of Turkey's Bank Kapital of `B+', `B+'
and `B' respectively, on Rating Watch Negative pending further discussions
with the BRSA and the announcement of its rehabilitation plan for the ten
banks under its control.

The recently established BRSA has stated that the takeover of Bank Kapital
followed a deterioration in the bank's financial condition. Fitch
understands that the bank will continue to operate and that it is likely
that the BRSA will ensure that it continues to meet its commitments in the
short term. However, the longer term future is more uncertain and the BRSA
has announced that it will unveil a rehabilitation plan for the ten banks
under its control next week with the aim of selling the banks as soon as
possible. A more detailed comment on recent developments in the Turkish
banking sector will be issued shortly.


UNDIGITAL, INC.: U.S. Trustee to Convene Meeting of Creditors on Nov. 20
------------------------------------------------------------------------
On September 29, 2000, Undigital, Inc., et al. filed voluntary petitions
for relief under Chapter 11. A meeting of creditors will be held on
November 20, 2000 at 10:00 AM. Counsel for the debtor is Neil B. Glassman,
Esq. PO Box 25130, Wilmington, DE 19899.


VENCOR, INC.: Signs Stipulation Allowing Filing of Tardy Proofs of Claim
------------------------------------------------------------------------
The Debtors have agreed, and Judge Walrath's approved, an extension of the
bar date for that the Estate of Lawrence C. Hedrick and the Estate of
Stanley Landsman to file proofs of claim against the Debtors. The Debtors
concur that there are uniquely extenuating circumstances regarding the
failure of these two claimants to file timely claims.

The extension will be thirty days from the date the Court entered an order
of approval of the Stipulation, that is, thirty days from September 19,
2000. Any proof of claim filed by the Claimants must be properly filed in
all other respects, and must be actually received at or before 4:00 p.m. on
the last day of the Extension Period. (Vencor Bankruptcy News, Issue No.
17; Bankruptcy Creditors' Service, Inc., 609/392-0900)


* Meetings, Conferences and Seminars
------------------------------------
November 2-6, 2000
       TURNAROUND MANAGEMENT ASSOCIATION
          Annual Conference
             Hyatt Regency, Baltimore, Maryland
                Contact: 312-822-9700 or info@turnaround.org

November 13-14, 2000
       FULCRUM INFORMATION SERVICES, INC.
          The 2nd Annual Lending To & Investing In
          Troubled Health Care Companies
             Loews New York Hotel, New York, New York
                Contact: 1-800-869-4302 or www.fulcruminfo.com

November 16-20, 2000
       COMMERCIAL LAW LEAGUE OF AMERICA
          80th Annual New York Conference
             Marriott World Trade Center, New York City
                Contact: CLLAmember@aol.com

November 27-28, 2000
       RENAISSANCE AMERICAN MANAGEMENT & BEARD GROUP, INC.
          Third Annual Conference on Distressed Investing
             The Plaza Hotel, New York, New York
                Contact: 1-903-592-5169 or ram@ballistic.com

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

January 9-14, 2001
       LAW EDUCATION INSTITUTE, INC.
          National CLE Conference on Bankruptcy Law
             Marriott, Vail, Colorado
                Contact: 1-800-926-5895 or www.lawedinstitute.com

February 22-23, 2001
       ALI-ABA
          Commercial Real Estate Defaults, Workouts,
          and Reorganizations
             Wyndham Palace Resort, Orlando
             (Walt Disney World), Florida
                Contact: 1-800-CLE-NEWS

February 25-28, 2001
       NORTON INSTITUTES ON BANKRUPTCY LAW
          Norton Bankruptcy Litigation Institute I
             Marriot Hotel, Park City, Utah
                Contact: 770-535-7722 or Nortoninst@aol.com

February 28-March 3, 2001
       TURNAROUND MANAGEMENT ASSOCIATION
          Spring Meeting
             Hotel del Coronado, San Diego, CA
                Contact: 312-822-9700 or info@turnaround.org

March 28-30, 2001
       RENAISSANCE AMERICAN MANAGEMENT & BEARD GROUP, INC.
          Healthcare Restructurings 2001
             The Regal Knickerbocker Hotel, Chicago, Illinois
                Contact: 1-903-592-5169 or ram@ballistic.com

March 29-April 1, 2001
       NORTON INSTITUTES ON BANKRUPTCY LAW
          Norton Bankruptcy Litigation Institute II
             Flamingo Hilton; Las Vegas, Nevada
                Contact: 1-770-535-7722 or Nortoninst@aol.com

April 19-21, 2001
       ALI-ABA
          Fundamentals of Bankruptcy Law
             Some Hotel in San Francisco, California
                Contact: 1-800-CLE-NEWS

June 28-July 1, 2001
       NORTON INSTITUTES ON BANKRUPTCY LAW
          Western Mountains, Advanced Bankruptcy Law
             Jackson Lake Lodge, Jackson Hole, Wyoming
                Contact: 770-535-7722 or Nortoninst@aol.com

July 26-28, 2001
       ALI-ABA
          Chapter 11 Business Reorganizations
             Hotel Loretto, Santa Fe, New Mexico
                Contact: 1-800-CLE-NEWS

The Meetings, Conferences and Seminars column appears
in the TCR each Wednesday. Submissions via e-mail to
conferences@bankrupt.com are encouraged.



                                *********


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

A list of Meetings, Conferences and Seminars appears in each Wednesday's
edition of the TCR. Submissions about insolvency-related conferences are
encouraged. Send announcements to conferences@bankrupt.com.

Each Friday's edition of the TCR includes a review about a book of interest
to troubled company professionals. All titles available from Amazon.com --
go to http://www.amazon.com/exec/obidos/ASIN/189312214X/internetbankrupt--  
or through your local bookstore.

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.

The TCR subscription rate is $575 for six months delivered via e-mail.
Additional e-mail subscriptions for members of the same firm for the term
of the initial subscription or balance thereof are $25 each. For
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                     * * * End of Transmission * * *