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/raid1/www/Hosts/bankrupt/TCR_Public/001108.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 8, 2000, Vol. 4, No. 219 Headlines AMERICAN METROCOMM: Cisco Purchases $19 M Assets, Could End Legal Squabble CHASE COMMERCIAL: Fitch Rates Mortgage Securitization Certificates CONSTELLATION 3D: Working Capital May Have Run Out Last Month CRIIMI MAE: Announces Closing on $200 Million Purchase Agreement With ORIX CRIIMI MAE: Court Announces Approval of Second Amended Disclosure Statement DRUG EMPORIUM: Analysts See Increasing Availability Under Credit Facility DYERSBURG CORP: Disclosure Statement Approved; Confirmation on Dec. 14 FINOVA GROUP: Lender Strives Still For Ways On Improving Financial Status FRENCH FRAGRANCES: Moody's Places Ratings on Review for Possible Downgrade IMC GLOBAL: Moody's Downgrades Rating for Commercial Paper to Prime-3 INTEGRATED HEALTH: Stipulates that Lenders Can File One Proof of Claim JAGNOTES.COM: Need for New Financing Has Reached a Critical Point LAROCHE INDUSTRIES: Completes Sale of Chemical Business To Orice Nitrogen LOEWEN GROUP: Loewen Kentucky's Moves to Sell Assets For $16,154,000 LOGOATHLETIC INC: Case Summary and 28 Largest Unsecured Creditors NATIONAL FINANCE: Involuntary Dismissed & Company Enters Chapter 11 OWENS CORNING: First Meeting of Creditors Scheduled For December 1, 2000 PARAMARK ENTERPRISES: Shareholders to Vote on Liquidation Plan Dec. 15 PSINET INC: Moody's Places Ratings on Review for Possible Downgrade SPECIALTY FOODS: Sells Mother's Cake & Archway to Parmalat for $250 Million TRSDS INC: Says Restaurants Still Profitable Despite Bankruptcy Filing U.S. WIRELESS: Shareholders Asked to Ratify M.R. Weiser Engagement VENCOR INC: Files First Amended Plan of Reorganization VILLAGEEDOCS, INC.: Management Actively Pursuing Financing Options WASTE MANAGEMENT: 3Q Financial Results for Period Ending Sept 30, 2000 WASTE MANAGEMENT: Appoints James T. Schultz as Health & Safety Vice Pres * Meetings, Conferences and Seminars ********* AMERICAN METROCOMM: Cisco Purchases $19 M Assets, Could End Legal Squabble --------------------------------------------------------------------------- The U.S. Bankruptcy Court in Wilmington approved an asset sale between American MetroComm Corp. and Cisco Systems Inc., Dow Jones reports. Cisco will purchase the assets of American MetroComm for $19 million, Doug Bacon, Esq., says. Mr. Bacon, who represents American MetroComm, works for the law firm of Latham & Watkins. Bacon added that the Cisco will also subordinate more than $57 million in claims against AMC. Cisco will then be able to purchase the legal claims that AMC has against it. The deal, it's believed, will wrap-up all the legal battles between the companies. CHASE COMMERCIAL: Fitch Rates Mortgage Securitization Certificates ------------------------------------------------------------------ Chase Commercial Mortgage Securities Corp.`s commercial mortgage pass- through certificates, series 1997-2, $128.8 million class A-1, $390.1 million class A-2, and interest only class X are affirmed at `AAA` by Fitch. In addition, the $32.6 million class B certificates are affirmed at `AA`, $48.8 million class C at `A`, $44.8 million class D at `BBB`, $12.2 million class E at `BBB-`, $48.8 million class F at `BB`, $6.1 million class G at `BB-`, $12.2 million class H at `B`, and $8.1 million class I at `B-`. The $11.8 million class J certificates are not rated by Fitch. The rating affirmations follow Fitch`s annual review of the transaction, which closed in December of 1997. The certificates are collateralized by 162 fixed-rate mortgage loans and consist mainly of the following: retail (36%), multifamily (29%), office (16%), and hotel (10%). There are large geographic concentrations in California (15%) and New York (13%). The pool also consists of three qualifying credit tenant lease (CTL) loans (1.7% of the pool) guaranteed by two tenants: Wal-Mart Stores, Inc. and Food Lion, Inc. As of the October 2000 distribution date, the pool`s aggregate certificate balance had decreased by 8.6%, to $744 million from $814 million at closing. Five loans have paid off since origination, including three loans since last year`s review. Total losses have amounted to approximately $2.5 million, with an average percentage loss of 51%. Master servicer Chase Manhattan Bank provided year-end 1999 financials for 156 loans, representing 97% of the pool. According to the information, the 1999 weighted average debt service coverage ratio (DSCR) is 1.54 times (x), compared to the underwritten DSCR of 1.49x. Five loans (3.3% of the pool) have year-end DSCRs below 1.00x, including four loans that are secured by multifamily properties. In addition, two loans (0.9% of the pool) are being specially serviced. As part of Fitch`s analysis, the loans identified as potential problems were assumed to default at various stress scenarios. The resulting subordination levels were sufficient to maintain the current ratings. CONSTELLATION 3D: Working Capital May Have Run Out Last Month ------------------------------------------------------------- Due to its lack of operating revenues, accumulated operating losses of $13,488,307 and the need for additional working capital, there is no assurance that CONSTELLATION 3D, INC., will be able to continue as a going concern. The Company's independent certified public accountants modified their opinion on the Company's Financial Statements in the Company's amended Form 10-K filed with the Securities and Exchange Commission on March 31, 2000 to express their substantial doubt about the Company's ability to continue as a going concern. In a regulatory filing delivered to the SEC last week, CONSTELLATION 3D, INC., indicates that it believes it has sufficient working capital to sustain its operations through September 2000. The company makes no further disclosure about whether it has sufficient liquidity to pay obligations in October, November or thereafter. As a research and development company in the data storage technology field, CONSTELLATION 3D notes, it continually expends large amounts of capital over short periods of time. The Company is currently generating no revenues and does not expect to do so until early in 2001. There is no assurance that revenues generated in future operations, if any, will be sufficient to finance the complete cost of the Company's research and development. Additional funds will be required before the Company achieves positive cash flow from operations. Future capital requirements and profitability depend on many factors, including, but not limited to, the timely success of product development projects and the timeliness and success of joint venture and corporate alliance strategies and marketing. The Company is actively in the process of raising additional capital, including the issuance of convertible debt securities and the potential issuance of preferred shares. The Company's outstanding convertible debt contains no restrictions on the further incurrence of indebtedness nor does such debt adversely affect the Company's liquidity. However, future debt or preferred share offerings could result in restrictions that could make payments of such debts difficult, create difficulties in obtaining further financings, limit the flexibility of changes in the business, and cause substantial liquidity problems. However, there can be no assurances that financing or additional funds needed will be available when needed or, if available, on terms acceptable to the Company. Additional equity or convertible debt financing, if obtained, could result in substantial dilution to shareholders. The Company is not currently considering acquiring a bank credit facility. CRIIMI MAE: Announces Closing on $200 Million Purchase Agreement With ORIX -------------------------------------------------------------------------- Commercial Real Estate reports on the closure of a $200 million purchase agreement between ORIX Real Estate Capital Markets and Criimi Mae Inc. Orix purchased mezzanine and junior-grade commercial mortgage-backed securities from Criimi Mae. An unknown source stated that even though the exact amount is unknown, the deal may be less than expected. ORIX also purchased about $400 million of Criimi bonds earlier this year. CRIIMI MAE: Court Announces Approval of Second Amended Disclosure Statement --------------------------------------------------------------------------- The U.S. Bankruptcy Court for the District of Maryland, Greenbelt Division, has entered an order approving the Rockville, Md.-based Criimi Mae's proposed second amended joint disclosure statement and other proposed solicitation materials. The court has scheduled a confirmation hearing on Criimi Mae's third amended joint reorganization plan for Nov. 15. The company's reorganization plan was filed with the support of the official committee of equity security holders of Criimi Mae's, which is a co-proponent of the plan. Under the plan, Merrill Lynch Mortgage Capital Inc. and German American Capital Corp., two of the company's largest secured creditors, would provide a significant portion of the recapitalization financing contemplated by the plan. Since filing chapter 11 on Oct. 5, 1998, Criimi Mae has suspended its loan origination, loan securitization and commercial mortgage-backed securities (CMBS) acquisition businesses. (ABI, 06-Nov-00) DRUG EMPORIUM: Analysts See Increasing Availability Under Credit Facility ------------------------------------------------------------------------- Availability on Drug Emporium's (Powell, OH) $110 million credit facility has fluctuated from $4 million two weeks ago to $10 million last Wednesday and, based on a conversation with the Company, F&D Reports' Analysts confirmed that as of November 2, 2000 was $17 million. Additional discussions F&D had with Drug Emporium officials revealed that availability is expected to be up to approximately $25 million within the next week or so. Apparently, availability was low due to seasonal borrowing requirements and additional usage due to credit restrictions for seasonal merchandise. Although the Company sold its struggling DrugEmporium.com subsidiary, it received stock, and not cash in the transaction, making it difficult to service the remaining debt related to the e-commerce unit. Despite the recent low level of availability, the Company remains in compliance with a covenant requiring minimum borrowing availability of $10 million on a rolling one-month basis. However, for the month of November, the covenant requirement is relaxed to a minimum of $7.5 million of availability on a rolling one-month basis. Looking ahead, the Company expects to release earnings results for the third quarter by mid-December. DYERSBURG CORP: Disclosure Statement Approved; Confirmation on Dec. 14 ---------------------------------------------------------------------- Almac Knit Fabrics Inc., its parent Dyersburg Corp., and a number of affiliates, received bankruptcy court approval of the disclosure statement related to their pre-negotiated plan of reorganization. Dyersburg's Chief Financial Officer William Shropshire Jr. told DBR that there were no objections to the adequacy of the disclosure statement. Judge Mary F. Walrath of the U.S. Bankruptcy Court in Wilmington, Del. has scheduled the plan confirmation hearing for Dec. 14. The fabrics maker has a term sheet for exit financing to be provided from its existing lenders, Shropshire said. The lenders, who are led by Fleet National Bank, will provide a $74 million revolving loan and a $22 million term loan, the same amounts currently provided under the debtor-in-possession financing facility. The exit facility will replace the DIP facility once the plan becomes effective. (ABI, 06-Nov-00) FINOVA GROUP: Lender Strives Still For Ways On Improving Financial Status ------------------------------------------------------------------------- Still searching for means of improving its financial state, Finova Group Inc. is a specialty lender based in Scottsdale. "The board, management and the company's investment banker, Credit Suisse First Boston, continue to pursue potential opportunities regarding a sale or significant equity infusion. In addition, Finova has begun to implement a new strategic direction that will focus on core specialty niche businesses," said Finova chairman John Teets. Finova struggled to right itself after a huge write-off in March together with the departure of its CEO. Finova has stopped operations in other business and offered selling its Corporate Finance, Business Credit, Growth Finance and Distribution and Channel Finance. FRENCH FRAGRANCES: Moody's Places Ratings on Review for Possible Downgrade -------------------------------------------------------------------------- Moody's Investors Service placed the ratings of French Fragrances, Inc. (FFI) under review for possible downgrade. The ratings affected are the B2 sr. unsecured notes due 2007; the Ba3 sr. secured credit facility and the B1 sr. implied. The review was prompted by the announcement that FFI will acquire the Elizabeth Arden and Elizabeth Taylor cosmetics and fragrances businesses from Unilever in a cash and convertible stock transaction. While this purchase can be viewed as an appropriate strategic move on the part of the company, Moody's will review the structure and financial impact of the acquisition, including the structure of new debt financing and likely integration issues, to determine whether a rating action is warranted. Should a material amount of additional secured debt be used to finance this acquisition, versus additional unsecured high yield notes, the rating on the existing senior unsecured notes could be subject to downgrade. The announced purchase price of $240 million will consist of $190 million in cash and $50 million (face value) of convertible preferred stock to be issued to Unilever. As a result of this transaction, Unilever will hold a 20% stake in French Fragrances. Unilever PLC, based in London, England, and Unilever NV, based in Rotterdam, The Netherlands, are the two parent companies of the Unilever Group, one of the world's largest manufacturers and marketers of branded and packaged consumer goods, with 1999 total revenues of NLG 91 billion. French Fragrances, Inc., headquartered in Miami Lakes, Florida, is a US manufacturer and marketer of prestige fragrances and related cosmetics and skincare products, whose brands include Halston, Geoffrey Beene and Benetton. The acquisition will add Elizabeth Arden's Red Door, 5th Avenue and White Shoulders fragrances; the Ceramides, Millenium and Visible Difference skincare brands and the Elizabeth Taylor White Diamonds and Passion fragrances. In addition, the company's staff will increase from 800 to 2,300 employees worldwide. For the fiscal year ended January 31, 2000, French Fragrances reported sales of $361 million and proforma sales after the acquisition will be approximately $800 million. FFI plans to change its name to Elizabeth Arden after a December shareholders' meeting. IMC GLOBAL: Moody's Downgrades Rating for Commercial Paper to Prime-3 --------------------------------------------------------------------- Moody's Investors Service downgraded IMC Global Inc.'s rating for commercial paper to Prime-3 from Prime-2 and confirmed the company's Baa2 senior unsecured debt ratings. However, rating outlook on the company's long term debt was changed to negative due to concerns over the combined impact of a weak market for phosphate fertilizers and delays in divesting non-core assets. These actions conclude the review began on August 8, 2000. Ratings downgraded: * IMC Global Inc. a) rating for commercial paper to Prime-3 from Prime-2 Ratings confirmed: * IMC Global Inc. a) Senior unsecured notes and debentures at Baa2; b) sr. unsecured credit facility at Baa2; c) universal shelf (sr. at Baa3). * Phosphate Resource Partners LP a) Senior unsecured notes and debentures at Baa3; b) sr. subordinated notes at Ba2. IMC's Baa2 ratings are supported by the company's leading position as the largest global supplier of phosphate and potash fertilizers. In addition, the cost reduction programs initiated in 1998 and 1999 should provide significant upside leverage to earnings and cash flow when fertilizer prices increase above current levels. The ratings are also supported by the relative stability of potash fertilizers and salt, both of which have better long-term supply/demand fundamentals. The ratings are tempered by the company's inability to divest non-core assets, which has exacerbated the negative impact of the trough in phosphate fertilizers on the company's financial ratios and will continue to severely constrain the company's financial flexibility. The downgrade of the rating for commercial paper to Prime-3 reflects the company's limited financial flexibility and our expectation that the company may continue to experience difficulty in selling non-core assets, thereby limiting IMC's ability to significantly reduce debt in the near- term. The company has recently renegotiated its credit agreement to provide more flexibility in the financial covenants, thereby increasing our comfort with the availability of funds under the agreement. However, due to the continuing trough in phosphate fertilizers and the failure to divest non- core assets, the company has greater exposure to events beyond management's control; these include the purchasing patterns of importing countries and the health of the farm economy, which may have a significant impact on the company's earnings and cash flow over the next year. The long-term debt ratings confirmation anticipates that management will continue to focus on the repayment of debt with cash flow from operations and proceeds from divestitures. Furthermore that management will refrain from share repurchases or other significant investments except those that will improve the supply/demand balance in phosphate fertilizers. The confirmation also reflects management's continued commitment to reduce debt over the intermediate-term. Despite the weak operating performance and the failure to complete divestitures, IMC has repaid roughly $180 million of debt in 2000. The ratings outlook on the long term debt has been changed to negative due to concerns over management's ability to sell the salt and chemicals assets, as well as the longer than anticipated trough in phosphate fertilizers. Although prices for DAP have rebounded from the lows experienced in 1999, we believe that prices will remain below the $150- 155/short ton range for the next two to three years. In addition, due to high debt levels the company remains exposed to unanticipated events that could significantly impact fertilizer pricing or volumes. Lower phosphate export volumes in 2000, have had more to do with low crop prices and significant reductions in international inventories than with new international production capacity. New plants in Australia and India have had significant production problems and will continue to operate below nameplate capacity. The combination of lower than anticipated international production capacity and lower international phosphate fertilizer inventories should have a modest positive impact on US export sales volumes in 2001. In addition, PhosChem's recent marketing agreement with Apatit should provide better price discipline in Asia. IMC Global Inc., headquartered in Lake Forest, Illinois, is a leading global producer of phosphate and potash fertilizers and animal feed ingredients. IMC reported revenues $2.4 billion in 1999. INTEGRATED HEALTH: Stipulates that Lenders Can File One Proof of Claim ---------------------------------------------------------------------- Prior to the commencement of the Debtors' chapter 11 cases, Integrated Health Services at Highlands Park, Inc., IHS Development Highlands Park, Inc., State Street Bank and Trust Company of Connecticut, National Association, Erie J. Donaghey, Citicorp USA, Inc., as the Certificate Holder, Citicorp USA, Inc., as Agent, and the Lenders, were parties to a Participation Agreement relating to, inter alia, the construction, lease and financing of certain real property and improvements. Currently, there are approximately 8 Lenders. In connection with the Participation Agreement, the Lenders claim that all or substantially all of the Debtors guaranteed payment and performance of all liabilities and obligations. To file a separate claim by each Lender against each and every debtor will mean that each Lender will have to file hundreds of substantially similar proofs of claim against the Debtors. To save unnecessary cost and expenses, the Lenders and the Debtors have agreed, and have obtained Judge Walrath's stamp of approval, that the Agent be authorized to file one proof of claim in the Debtors' chapter 11 cases asserting an aggregate claim on behalf of all of the Lenders, against all of the Debtors. In addition, the Agent will not be required to attach copies of any documents to such proof of claim but will make copies of such documents available to counsel to the Debtors upon request. Such a proof of claim (a) shall be deemed to be asserted in the full amount against each and all of the Debtors (other than any Debtor specifically set forth on a schedule); (b) shall contain a general description of any collateral securing the claim; and (c) shall set forth the name of each Lender (as of the Filing Date) and such Lender's ratable share of the aggregate amount of principal and interest asserted in the claim (as of the Filing Date). (Integrated Health Bankruptcy News, Issue No. 9; Bankruptcy Creditors' Service, Inc., 609/392-0900) JAGNOTES.COM: Need for New Financing Has Reached a Critical Point ----------------------------------------------------------------- Tell the Securities and Exchange Commission that its annual report for the Fiscal Year ended July 31, 2000, will be tardy, JagNotes.com Inc., discloses that it is in the process of negotiating accelerated terms of certain financing arrangements. The anticipated results of these negotiations, which are to occur in the near term, will have a significant impact on the Company's ability to continue as a going concern. "To file the Company's Annual Report on Form 10-KSB prior to the completion of such negotiations could be misleading," President and CEO Gary Valinoti tells the SEC. JagNotes.com generated revenues of approximately $1,042,000 and $801,000, and it incurred net losses of approximately $16,664,000 and $1,028,000 and cash flow deficiencies from operating activities of approximately $8,460,000 and $1,103,000, during 2000 and 1999, respectively. As a result, the Company had an accumulated deficit of approximately $17,874,000 as of July 31, 2000. Although the Company had a cash balance of $807,000 and working capital of $1,161,000 as of July 31, 2000, and a substantial portion of its net losses in 2000 and 1999 were attributable to noncash operating expenses, management believes that the Company will continue to incur net losses and cash flow deficiencies from operating activities. These matters raise substantial doubt about the Company's ability to continue as a going concern if the Company fails to obtain commitments for the additional financing currently under negotiation or fails to maintain expenses at current levels or less. LAROCHE INDUSTRIES: Completes Sale of Chemical Business To Orice Nitrogen ------------------------------------------------------------------------- Laroche Industries Inc. announces that it completed the sale of its ammonium nitrate business to Colorado-based Orice Nitrogen LLC, Atlanta Bizjournal.com reports. The Atlanta-based nitrogen manufacturer filed for bankruptcy protection under Chapter 11 in the District of Delaware. LaRoche Industries is a worldwide producer and distributor of nitrogen, chlor-alkali and fluorocarbon chemical products, with operations throughout the United States, Germany and France. LOEWEN GROUP: Loewen Kentucky's Moves to Sell Assets For $16,154,000 -------------------------------------------------------------------- Pursuant to the Disposition Program, Loewen (Kentucky), Inc. and 29 other debtors propose to sell funeral homes, cemetery businesses and related assets at 21 locations in Kentucky to the Initial Bidder Central Kentucky Funeral Directors, L.L.C. for $16,154,000 subject to higher offer at $16,788,620 or above, that is, 3% above the Initial Bid. Under the Asset Purchase Agreement with Central Kentucky, all accounts receivable, transferable permits relating to the businesses conducted at the Sale Locations will be transferred to the Initial Bidder. The Debtors tell Judge Walsh that, one of the Sale Locations, the Pulaski Funeral Home, is subject to a Right of First Refusal (ROFR). Of the $16,154,000 Purchase Price, $900,000 has been allocated by the Purchaser to the ROFR Location. However, counsel to the ROFR Holder notified counsel to the Debtors that in the event an auction for the Location is conducted, the ROFR Holder does not intend to participate. The Debtors therefore conclude that they have no further obligations to the ROFR Holder and may proceed with the sale of the ROFR Location. The Initial Bidder paid a deposit of $805,200 and has agreed to pay the remainder at the closing. If the sale is not consummated due to the Debtors, the Initial Bidder will be entitled to expenses of $150,000. The Debtors tell Judge Walsh that, the Commonwealth of Kentucky and Mr. Todd E. Leatherman in his capacity as Director, Consumer Protection Division of the Attorney General's office, requested that the Debtors enter into the Commonwealth Agreement which provides for the consent by the Commonwealth and the Director to the sale and the transfer of certain trust funds or trust agreements described in the Purchase Agreement if: (a) LGII represents and warrants that the Trusts are adequately funded under applicable law as of the closing date; and (b) to the extent that such representation and warranty is inaccurate, LGII agrees to fund any deficiency in the Trusts as of the closing date. In accordance with the Net Asset Sale Proceeds Procedures, the Debtors will use the proceeds generated to repay any outstanding balances under the Replacement DIP Facility and deposit the net proceeds into an account maintained by LGII at First Union National Bank for investment, pending ultimate distribution on court order. Funds necessary to pay bona fide direct costs of a sale may be paid from the account without further order of the Court. The deposit will not include the portion of the Purchase Price allocated to Neweol under the Neweol Purchase Agreement with respect to accounts receivables. The amount of such portion will be determined prior to closing and will be paid to Neweol. The Selling Debtors believe that the Purchase Agreement complies fully with the conditions and guidelines set forth in the Disposition Order and the proposed sale is in the best interests of their respective estates and creditors. Accordingly, by this Motion, the Selling Debtors seek authority to: (a) sell the Sale Locations to the Purchaser on the terms set forth in the Purchase Agreement, free and clear of all liens, claims, encumbrances and other interests, pursuant to sections 363(b) and 363(f) of the Bankruptcy Code; (b) enter into related agreements and transactions, including the Commonwealth Agreement; and (c) pursuant to section 365 of the Bankruptcy Code, assume and assign certain agreemenst such as lease and subleases, trust management agreements, equipment, supplies and service contracts etc. relating to the Sale Locations. (Loewen Bankruptcy News, Issue No. 28; Bankruptcy Creditors' Service, Inc., 609/392-0900) LOGOATHLETIC INC: Case Summary and 28 Largest Unsecured Creditors ----------------------------------------------------------------- Debtor: Logoathletic, Inc. 8677 LogoAthletic Court Indianapolis, IN 46219 Chapter 11 Petition Date: November 6, 2000 Court: District of Delaware Bankruptcy Case No.: 00-04126 Debtor's Counsel: Laura Davis Jones, Esq. Pachuleki, Stang, Ziehl, Young & Jones P.C. 919 N. Market Street, 16th Floor P.O. Box 8705 Wilmington, DE 19899-8705 (302) 652-4100 Total Assets: $ 100 Million above Total Debts : $ 100 Million above 28 Largest Unsecured Creditors: Indiana Knitwear Gene Bate P.O. Box 309 Greenfield, IN 46140 Trade $ 3,156,782 Players, Inc. Pam Adolph 2021 L. Street, N.W., Suite 600 Washington, DC 20036 Trade $ 1,722,342 NFL Properties 280 Park Avenue New York, NY 10017 Trade $ 1,714,926 Delta Apparel Herb Mueller P.O. Box 93-419 Atlanta, GA 31193 Trade $ 1,305,366 Tultex 101 Commonwealth Blvd Martinsville, VA 24112 Trade $ 897,739 Dada Corporation 769 9 Yeoksam-dong Kangnam Ku Seol Korea Trade $ 761,138 Pam Knitting Mr. Hillary Slonimsky 947-D Warden Avenue Scarborough, Ontario M IL 4E3 Trade $ 454,682 DZ Trading P.O. Box 12082 Newark, NJ 07101 Trade $ 446,629 Troy Aikman Aikman Enterprises 10020 N. McArthur Blvd. Suite 160 Irving, TX 75063 Trade $ 333,334 Tee Jays P.O. Box 2033 Florence, AL 35630 Trade $ 318,576 MLB Properties Trade $ 244,813 NBA Properties Trade $ 220,665 Wells Fargo Trade $ 211,199 UPS Trade $ 207,321 NHL Trade $ 204,541 Bob Knight Trade $ 200,000 Jake Plummer Trade $ 175,000 JML Productions Trade $ 175,000 RLS Screenprinting Trade $ 150,000 Ripon Athletic Trade $ 140,161 Wear-It Apparel Trade $ 134,492 Phoenix Int'l. Trade $ 132,159 Collegiate Lic. Co. Trade $ 131,101 Ricky Willaims, Inc. Trade $ 125,000 Power Manufacturing Trade $ 120,872 Randall Cunningham Trade $ 100,000 McCreary's Tees Trade $ 79,256 Orloxi Int'l. Trade $ 78,785 NATIONAL FINANCE: Involuntary Dismissed & Company Enters Chapter 11 ------------------------------------------------------------------- National Finance Corp. (NFC), in a compromise agreement with the creditors that tried to push it into chapter 7 bankruptcy liquidation, announced that it will instead file for chapter 11 reorganization, according to a newswire report. The agreement was reached in U.S. Bankruptcy Court in Albany. A trio of creditors joined together in August to file the involuntary bankruptcy petition against NFC, the Halfmoon, N.Y.-based mortgage lender that closed its doors in December. The petition said that the three - SFX Sports Group Inc. of New York City, First American Credco of Poway, Calif., and First American Flood Data Services of Austin, Texas - were seeking more than $600,000 in claims. NFC sought to dismiss the involuntary bankruptcy petition, claiming it was attempting to go back into business and that it had a significant number of assets that would not benefit either side if put on the auction block. (ABI, 06-Nov-00) OWENS CORNING: First Meeting of Creditors Scheduled For December 1, 2000 ------------------------------------------------------------------------ The United States Trustee for Region III will convene a meeting of the Debtor's Creditors pursuant to 11 U.S.C. Sec. 341(a) on December 1, 2000, at 2:00 p.m., in Room 2313 of the United States Courthouse located at 844 King Street in Wilmington. All creditors are invited, but not required, to attend. This Official Meeting of Creditors offers the one opportunity in a bankruptcy proceeding for creditors to question a responsible officer of the Debtor under oath. (Owens-Corning Bankruptcy News, Issue No. 3; Bankruptcy Creditors' Service, Inc., 609/392-0900) PARAMARK ENTERPRISES: Shareholders to Vote on Liquidation Plan Dec. 15 ---------------------------------------------------------------------- Shareholders of Paramark Enterprises, Inc., will convene for an annual meeting on December 15, 2000 at 9:00 am at the law offices of Blank Rome Comisky & McCauley LLP, 10th Floor, One Logan Square, Philadelphia, Pennsylvania. At that meeting, Chairman and CEO Charles N. Loccisano explains, sharholders will be asked to consider and vote on: (A) a proposal to sell substantially all of the operating assets of the Company to Rich Products Manufacturing Corporation pursuant to the terms and conditions of the Asset Purchase Agreement; (B) a proposal to sell the remaining operating assets of the Company to Brooks Street Baking Companies, Inc. pursuant to the terms and conditions of the Brooks Street Companies, Inc. Asset Purchase and Sale Agreement; and (C) a proposal to liquidate the Company pursuant to the provisions of the Plan of Liquidation approved by the Company's Board of Directors. The Rich Products Transaction provides for cash payments to the Company, at or before closing, aggregating $1,182,750, additional payments of $1,000,000 payable over a period of 4 years and the assumption by Rich Products of approximately $285,000 in Company debt. The Brooks Street Transaction provides for royalty payments to the Company over a period of 4 years equal to 5% of net sales of pull-apart cakes to existing customers of the Company and 1 1/2% of net sales of all pull-apart cakes to new customers of Brooks Street. In addition, the Brooks Street Transaction provides for the purchase of inventory from the Company in the amount of $12,500 and assumption of approximately $70,000 of Company debt by Brooks Street. Certain members of management will receive payments from Rich Products in consideration for entering into consulting agreements with Rich Products, will receive payments in consideration for the termination of employment agreements with the Company, and will have indebtedness from the Company repaid with a portion of the proceeds of the Rich Products Transaction. Paramark Enterprises, Inc., formerly T.J. Cinnamons, Inc., is a wholesale manufacturer of gourmet specialty bakery products distributed throughout the United States. The Company leases a 36,000 square foot production facility in El Cajon, California employing approximately 100 people. The Company's products are sold in approximately 2,000 supermarkets, and its product line consists of sweet bakery products including cinnamon rolls, pull-apart cakes, decorated layer cakes, bundt cakes, brownies, torte cakes, crumb cakes, rugalach, corn breads, and other specialty cakes. The Company's Common Stock and Class B Warrants are publicly traded on the OTC Bulletin Board under the symbols "TJCI" and "TJCIZ". Due to a history of continuing operating losses and the negative working capital position of the Company, beginning in the first quarter of Year 2000, the Company's management began exploring strategic alternatives including a possible merger or sale transaction. As a result of active networking within the baking industry, Rich Products Manufacturing Corporation d/b/a/ Jon Donaire Desserts , one of the Company's largest customers, indicated that it had an interest in acquiring the Company's bakery operations arising from its desire to expand its business into various specialty decorated cake products of the type the Company has successfully developed. In July 2000, the Company announced that it had entered into a non-binding letter of intent with Rich Products for the sale of its bakery operations excluding all dough products. During the period July 2000 to September 2000, the Company engaged in negotiations with Rich Products, and on October 9, 2000, the Company executed a definitive asset purchase agreement with Rich Products to sell the majority of its bakery operations. The Rich Products Transaction does not include the sale of the Company's tangible and intangible assets relating to dough products, which is primarily comprised of approximately $1 million of annual sales of a proprietary product known as pull-apart cakes. Therefore the Company further networked within the bakery industry to seek a buyer for these assets. After active discussions with three bakery companies selling dough products, on August 8, 2000 the Company entered into a non-binding letter of intent with Brooks Street Companies, Inc., for the sale of its tangible and intangible assets relating to its pull-apart cakes, and on October 9, 2000, the Company executed a definitive asset purchase and sale agreement with Brooks Street to sell the reminder of the its bakery operations. The Company will sell the majority of the assets comprised of the El Cajon, California bakery facility and all inventory and equipment pursuant to the terms and conditions of the Rich Products Transaction, and the Company will sell the remaining assets of the El Cajon, California bakery facility pursuant to the terms and conditions of the Brooks Street Transaction. Following completion of the Transactions, the Company will seek to liquidate its assets. In order to liquidate the Company's fixed assets, the executive management staff will be retained at the Company's executive offices in New Jersey through January 31, 2000 in order to collect all accounts receivables, liquidate all inventory, pay down all outstanding trade payables and sell all furniture, fixtures and equipment maintained at the Company's headquarters in Secaucus, New Jersey. In addition, the Company may explore other strategic options, including the possible sale of its corporate shell if such a sale is feasible and financially beneficial to the Company's shareholders. As a result, consistent with the requirements of applicable Delaware law, the Company reserves the right to abandon or amend the Plan of Liquidation following the approval of such plan by stockholders. Following the closing of the Transactions, the Company will establish a liquidating trust to collect all contractual payments pursuant the Rich Products Asset Purchase Agreement and the Brooks Street Asset Purchase and Sale Agreement, and will make liquidating distributions to the holders of units in the liquidating trust over a period of up to four years from the date the assets were first transferred to the liquidating trust. PSINET INC: Moody's Places Ratings on Review for Possible Downgrade ------------------------------------------------------------------- Moody's Investors Service today placed the B3 senior unsecured and the B2 senior implied ratings of PSINet, Inc. ("PSINet") on review for a possible downgrade. This action follows the company's recent announcements, that it would face a $600 million potential funding gap next year, that future revenues will be lower than previously expected, and that it has decided to classify, as a discontinued operation, its 80% owned subsidiary Xpedior, Inc., which it acquired in June 2000, through the acquisition of Metamor Inc. for $1.9 billion in stock plus the assumption of debt. The review will examine the challenges facing the company as it focuses its future strategic growth to capitalize upon the higher margined web-hosting solutions and applications solutions needs of data-centric businesses and transitions increasingly away from its core ISP and access business. In September, PSINet had indicated that the build-out of its hosting and applications businesses presents capital requirements that its present cash position of approximately $1billion is insufficient to meet in the short term. Moody's review will consider the funding requirements needed to complete the construction of planned hosting centers, and the ability of the company to raise such funding through asset sales and other sources, given current market conditions. In addition to indicating that revenues for the balance of 2000 may be lower than it previously expected, the company recently provided revised revenue guidance of $2.3-$2.5 billion for 2001, which is below Moody's expectations. On November 2, PSINet management subsequently suspended all guidance concerning 2001 revenues and funding needs. The company has announced that it has engaged outside consultants to assist with a review of the restructuring process currently under way and to assist with forecasting. In connection with the restructuring, the company also announced the resignation of its COO. The ratings under review are: a) Senior Implied - B2 b) Issuer Rating - B3 c) Senior Secured Credit Facility - B2 d) 10.5% Senior Unsecured Eurobonds due 2006 - B3 e) 11.5% Senior Unsecured Notes due 2008 - B3 f) 11.0% Senior Unsecured Notes due 2009 - B3 g) 11.0% Senior Unsecured Eurobonds due 2009 - B3 h) 10.5% Senior Unsecured Notes due 2006 - B3 i) 10.0% Senior Unsecured Notes due 2005 - B3 j) Preferred stock - "caa" PSINet has its headquarters in Ashburn, Virginia. SPECIALTY FOODS: Sells Mother's Cake & Archway to Parmalat for $250 Million --------------------------------------------------------------------------- Dow Jones reports on the recent sale of Mother's Cake & Cookie Company and Archway Cookies to Parmalat Finanziaria SpA (I.PFS) for $250 million. Specialty Foods Corp. (X.SFC), which filed for Chapter 11 in Sept. 18, owns Mother's Cake. "The money has been pre-arranged to go to the company debt- holders, including creditors," said Sean Stack of Specialty Foods. Specialty agreed to sell the said units in September as part of its bankruptcy reorganization. Parmalat is one of Italy's largest dairy companies with sales of EUR3.45 billion in the 6 months ended June 30. The company had a pretax profit of EUR167 million, up 27% from EUR132 million a year ago. TRSDS INC: Says Restaurants Still Profitable Despite Bankruptcy Filing ---------------------------------------------------------------------- TRSDS Inc., owner of the Damon's restaurant in Granite Bay and Tony Roma's ribs restaurant in Sacramento filed for Chapter 11. According to TRSDS counselor Laurel Bennett, both restaurants are operating and earning a profit, Bizjournals.com reports. First Union Bank of Charlotte, N.C. is the largest creditor, which is owed $2.1 million through its former Money Store Subsidiary. From that amount $1.5 million is unsecured by assets. The petition filing listed assets of $1.1 million and liabilities of $2.6 million. U.S. WIRELESS: Shareholders Asked to Ratify M.R. Weiser Engagement ------------------------------------------------------------------ On August 5, 1999, U.S. Wireless Data, Inc., dismissed PricewaterhouseCoopers LLP as its independent accountants. The reports of PwC on the Company's financial statements for the two fiscal years ending June 30, 1998 and 1997 did not contain any adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principles, except that the reports of PwC included a reference to a substantial doubt about the Company's ability to continue as a going concern. In connection with its audits for the two fiscal years ended June 30, 1998 and June 30, 1999 and through August 5, 1999, there were no disagreements with PWC on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of PwC would have caused them to make reference thereto in their report on the financial statements for such years. The Company requested that PwC furnish it with a letter addressed to the SEC stating whether or not it agreed with the above statements. PwC furnished the Company with such a letter, dated August 20, 1999, a copy of which was filed by the Company as Exhibit 16 to a Current Report on Form 8- K/A filed by the Company as of August 20, 1999. The Company engaged M.R. Weiser, as its new independent accountants as of August 5, 1999. In connection with its audits for the fiscal year ended June 30, 1999 and June 30, 2000, there have not been any disagreements with M.R. Weiser on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of M.R. Weiser would have caused them to make reference thereto in their report on the financial statements for such year. The Board of Directors recommended and approved the decision to change independent accountants. U.S. Wireless now seeks ratification of the Board's decision to appoint M.R. Weiser & Co. LLP as the independent auditors and public accountants for the Company for the fiscal year ending June 30, 2001. Shareholders will convene for the 2000 Annual Meeting of Shareholders of U.S. Wireless Data, Inc. at the New York Helmsley Hotel, TurtleBay Room, 212 East 42nd Street, New York, New York, 10017 at 2:00 p.m., Eastern time, on December 12, 2000. VENCOR INC: Files First Amended Plan of Reorganization ------------------------------------------------------ Vencor, Inc. announced that it has filed its first amended plan of reorganization with the United States Bankruptcy Court for the District of Delaware (the "Court"). The Company also has filed a first amended disclosure statement and a short-form disclosure statement (the "Disclosure Materials"), which, if approved by the Court, will be used to solicit acceptances of the Plan. The Company intends to seek approval of the Disclosure Materials at a hearing before the Court on December 6, 2000. The Plan amends the prior plan of reorganization filed by Vencor by including the terms of the settlement of civil and certain administrative claims with the United States government, which settlement remains subject to appropriate governmental approval and the resolution of certain issues including the scope of releases being provided in conjunction with the settlement. The Debtors also continue to work with Ventas to obtain its acceptance of the terms of the Plan. In addition to the factors noted below, the confirmation and consummation of the Plan are subject to a number of material conditions, including, without limitation, successful completion of negotiations with the United States government and Ventas, the receipt of the requisite acceptances from various creditor classes to confirm the Plan and the Court's determination that the Plan satisfies the statutory requirements for confirmation under the bankruptcy code. There can be no assurance that the Plan as submitted will be confirmed or consummated. Vencor and its subsidiaries filed voluntary petitions for reorganization under Chapter 11 with the Court on September 13, 1999. Throughout the Chapter 11 process, the Company has maintained normal operations in its nursing centers and hospitals. Vencor is a national provider of long-term healthcare services primarily operating nursing centers and hospitals. VILLAGEEDOCS, INC.: Management Actively Pursuing Financing Options ------------------------------------------------------------------ With financial statements showing million-dollar-a-year-losses, a working captital deficit and negative shareholders equity, Arthur Andersen LLP opines that there is substantial doubt about VillageEDOCS, Inc.'s ability to continue as a going concern. VillageEDOCS' management, the auditors note, plans to seek additional financing in late 2000 and the first quarter of 2001 and is actively pursuing obtaining these additional funds. Arthur Andersen cautions that there can be no assurance that funding will be available on acceptable terms, if at all, or that such funds, if raised, would enable the Company to achieve and maintain profitable operations. VillageEDOCS offers Internet Fax Services to businesses. "We offer a complete set of high quality, reliable document delivery services that can be customized to meet the specific needs of clients. We believe that our service allows companies to combine the convenience and costs savings provided by the Internet with the compatibility of conventional Fax machines. By outsourcing their document delivery needs, businesses can benefit from ease of use, savings in avoiding the need for installation of additional telephone lines for fax transmission and receipt, elimination of hard copies of documents at the point of origin, electronic filing of documents and minimizing manual handling of documents," the Company says. WASTE MANAGEMENT: 3Q Financial Results for Period Ending Sept 30, 2000 ---------------------------------------------------------------------- Waste Management, Inc. (NYSE:WMI) announced financial results for its third quarter, ended September 30, 2000. Revenues for the quarter were $3.12 billion as compared to $3.40 billion in the year ago period. The Company reported net loss of $190.8 million for the period or $0.31 loss per diluted share, compared with a loss of $947.8 million, or $1.53 loss per diluted share, for the third quarter 1999. On a pro forma basis, after adjusting for unusual costs and certain other items discussed below, third quarter 2000 net income was $207.6 million, or $0.33 per diluted share. The unusual costs and other items adjusted for in the pro forma analysis include $362.6 million in asset impairments and unusual items comprised of: $ 97.9 million in net losses on sales of assets; $182.2 million in impairments on held-for-sale assets; $80.2 million for the planned termination of the former Waste Management pension plan; and$2.3 million of other items. Unusual costs and other items also include: $4.9 million of operating expenses, primarily for truck painting and signage; $48.5 million of SG&A costs, principally related to business consulting, systems development and accounting efforts; and $0.7 million of unusual interest expense. Additionally, for the pro forma analysis an effective tax rate of 40.1% is utilized, and $10.3 million of suspended depreciation related to assets-held-for-sale is charged to expense. For the nine months ended September 30, 2000 Waste Management reported operating revenues of $9.61 billion as compared to $9.79 billion for the comparable period last year. Net loss was $135.5 million and diluted loss per share was $0.22 for the nine months ended September 30, 2000 compared to losses of $282.8 million and $0.46, respectively, for the same period in 1999. "The Company continued to make progress on a number of important fronts during the third quarter," said A. Maurice Myers, Chairman, President, and Chief Executive Officer of Waste Management. "Our information systems are in the best shape they have been in since the merger two years ago, and we expect to go live on the pilot of our new enterprise software system in less than a month. Early next year we plan to begin roll-out of the software, with 1,500 conversions planned by year-end 2001. Our plan is to have the best information systems available, which we believe will give us a significant competitive edge." He continued, "The divestiture program announced a little over a year ago is practically complete. The sale of international, non-core and certain domestic assets has resulted in over $2.1 billion in collected proceeds to date this year. We have used those proceeds along with cash from operations to reduce debt by $2.8 billion since the end of last year. Our balance sheet is much improved from one year ago, and that is due in no small part to the success of the divestiture program." The Company further noted that important highlights of the quarter's results include: -- Operating cash flow of $560.3 million and adjusted free cash flow of $ 388.4 million -- North American solid waste revenues increased 4.2% to $2.874 billion from $2.758 billion in the third quarter 1999 -- Internal growth of 3.0% in the North American solid waste business, with 1.7%, or $47.4 million, in volume growth -- Price growth in the quarter of 1.3%, or $35.1 million, including fuel surcharges of $16.3 million and improved commodity prices of $3.4 million -- Pro forma EBITDA of $895.8 million, or 28.7% as a percent of revenues Myers added, "We continue to refine this business model and focus on making every customer a profitable customer. One visible action towards this end recently taken by a district was the cancellation of service to almost three thousand unprofitable customers in New York City. Circumstances beyond our control made it impossible for us to turn these into profitable customers, so we notified the customers that they would need to find a new service provider. In support of this overall effort, we are working on an automated customer-by-customer profitability analysis program and anticipate having it complete early next year. With this information we will be able to make much smarter pricing decisions, and we expect that to be evident during the course of 2001." The Company has scheduled an investor and analyst conference call to discuss the results of today's earnings announcement. The call will begin at 11:00 a.m. eastern time, 10:00 a.m. central time, and is open to the public. To listen to the conference call, which will be broadcast live over the Internet, go to the Waste Management Website at http://www.wm.com,and select "Live Webcast: Third Quarter Earnings Report." You may also listen to the conference call by telephone by contacting the conference call operator at 719-457-2680, 15-20 minutes prior to the scheduled start time, and asking for the "Waste Management Conference Call." For those unable to listen to the live call, a replay will be available 24 hours a day beginning at approximately Noon November 6th through Midnight on November 17th. To hear a replay of the call over the Internet access the Waste Management Website at http://www.wm.com.To hear a telephonic replay of the call, dial 719-457-0820 and enter reservation code 548984. Waste Management, Inc. is its industry's leading provider of comprehensive waste management services. Based in Houston, the Company serves municipal, commercial, industrial, and residential customers throughout the United States, and in Canada, Puerto Rico and Mexico. WASTE MANAGEMENT: Appoints James T. Schultz as Health & Safety Vice Pres ------------------------------------------------------------------------ Waste Management Inc. appoints 51-year-old, James T. Schultz as vice president of health and safety, Bizjournal.com reports. Mr. Schultz will be responsible for developing and implementing safety policies and procedures designed to improve the safety performance of the company. He is also a former vice president and chief safety officer of CSX Transportation of Jacksonville, Fla., where he exerted all safety aspects to 36,000 employees worldwide. As reported in the Oct 24 TCR, Waste Management, Inc. turned down a contract signing with the City of Toronto. The company is the leading provider of comprehensive waste management services. Based in Houston, the Company serves municipal, commercial, industrial, and residential customers throughout the United States, and in Canada, Puerto Rico and Mexico. * Meetings, Conferences and Seminars ------------------------------------ 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 May 17-18, 2001 RENAISSANCE AMERICAN MANAGEMENT & BEARD GROUP, INC. Bankruptcy Sales & Acquisitions The Renaissance Stanford Court Hotel, San Francisco, California Contact: 1-903-592-5169 or ram@ballistic.com June 13-16, 2001 Association of Insolvency & Restructuring Accountants Annual Conference Hyatt Newporter, Newport Beach, California Contact: 541-858-1665 or aira@ccountry.com 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 subscription information, contact Christopher Beard at 301/951-6400. * * * End of Transmission * * *