TCR_Public/971028.MBX   T R O U B L E D   C O M P A N Y   R E P O R T E R    
    
       Tuesday, October 28, 1997 Vol. 1, No. 46

                     Headlines

DECORATIVE HOME: Disclosure Statement Contents
FRETTER: Sale of Property in Libertyville, Illinois
GUY A. ATKINSON: Deadline for Filing Proofs of Claim
KIA GROUP: Kia Motors Workers Rally Again
LOUISE’S TRATTORIA: Meeting of Creditors

STEINBERG’S: Liquidators to Conduct Sale of Inventory
UNITED HEALTHCARE: Sales of Headquarters/Property Approved
WESTERN PACIFIC: Case Details

Meetings, Conferences and Seminars

                   -----

DECORATIVE HOME: Disclosure Statement Contents
-----------------------------------------------
Decorative Home Accents, Inc., has filed a disclosure
statement to accompany its joint plan of reorganization
dated September 29, 1997, with the U.S. Bankruptcy Court for
the Southern District of New York.

The company states reorganization and continuing in business
as a viable going concern will afford creditors,
shareholders, employees and other parties in interest a
substantially greater recovery than if its assets were
liquidated or another alternative was pursued. The
disclosure statement and plan of reorganization contain the
following provisions.

The effective date shall be on the second business day after
the confirmation order has become a final order, the new
common stock has been registered, sufficient net cash
proceeds have been received from rights and oversubscription
options to allow payment in full in cash of all amounts due
under the prepetition secured term loan agreement, an
agreement for a secured working capital facility is reached,
the proceeds of not less than the aggregate outstanding
amount under the postpetition term loan and up to $7.5
million under a secured term loan facility is received, the
DHA charter has been filed in each state where the entity is
incorporated, all members of boards of directors of the
debtors have resigned, the aggregate prepetition claims do
not exceed $20 million, and the debtors have approval for
any modifications to the plan.

On the effective date, senior notes, existing common stock,
redeemable preferred stock, and certificates of
designations, options, warrants, calls, subscriptions and
similar rights will be canceled.

Classification of Claims

Class                       Amount             Status/
                            (Approx.)          Treatment
-----                       ---------          ---------
1A                          $2.159 million     Unimpaired/
Secured Claims                                 Payment in
Macpherson Meistergram                         full, cash

1B
Other Secured Claims        N/A                Unimpaired/
                                               Receive
                                               collateral
                                               on secured
                                               claim,
                                               default
                                               exceptions

2
Unsecured Priority Claims   N/A                Unimpaired/
                                               Payment in
                                               full, cash

3
General Unsecured Claims    N/A                Unimpaired/
                                               If unpaid
                                               on effective
                                               date, full
                                               cash payment
                                               or agreed
                                               treatment

4
Senior Note Claims          $129.835 million   Impaired/
                                               Pro rata
                                               distribution
                                               9.25 million
                                               shares common
                                               stock, 62.5%
                                               of rights,
                                               and over-
                                               subscription
                                               options

5A
Redeemable Preferred        N/A                Impaired/
Stock Interests                                Pro rata
                                               distribution
                                               790,000
                                               shares new
                                               common
                                               stock, 37.5%
                                               of rights,
                                               over-
                                               subscription
                                               options, and
                                               100 %R of
                                               series A
                                               warrants

5B
Existing Common Stock       N/A                Impaired/
Interests                                      Pro rata
                                               distribution
                                               of 100%
                                               series B
                                               warrants

5C
Equity Interests in TRB    N/A                 Unimpaired/
                                               Keep rights

5D
Equity Interests in HII     N/A                Unimpaired/
                                               Keep rights

5E
Equity Interests in         N/A                Unimpaired/
HII-New York                                   Keep rights

5F
Equity Interests in DHAH    N/A                Unimpaired
                                               Keep rights

5G
Equity Interests in Briggs  N/A                Unimpaired/
                                               Keep rights

5H
Equity Interests in         N/A                Unimpaired/
Draymore                                       Keep rights

5I
Equity Interest Based on    N/A                Impaired/
Options, Warrants, etc.                        No
                                               distribution

Unclassified Claims

Administrative claims will be paid in full in cash by the
reorganized debtors by the later of the effective date or
the date of a final order allowing these claims.

Priority tax claims will be treated as follows: holders of
claims not paid prior to the effective date will receive
deferred cash payments over six years or less, plus interest
form the effective date.

Intercompany and affiliate claims will not be considered
allowed claims under the plan and no distributions will be
made on these claims except to such entities solely on
account of any senior notes, redeemable preferred stock, or
existing common stock.

Joint liability duplicate claims against multiple debtors,
including guaranteed claims, will only be allowed one claim;
duplicate claims against any other debtor based on that
other debtor’s joint liability will be disallowed


FRETTER: Sale of Property in Libertyville, Illinois
-----------------------------------------------------
Fretter, Inc., seeks permission to sell a former store
location in Libertyville, Illinois, free and clear to
Roadmaster Investment Company for $1.6 million in cash, with
a $50,000 deposit. Competitive bids must be at least $30,000
higher than the purchase price. Roadmaster will receive a
breakup fee of $15,000 if Fretter accepts a higher and
better offer.

There will be a hearing on the sale motion before judge Pat
Morgenstern-Clarren in the Northern District of Ohio,
Eastern Division, on November 13, 1997.


GUY A. ATKINSON: Deadline for Filing Proofs of Claim
---------------------------------------------------
Guy A. Atkinson company of California has had its deadline
for filing proofs of claims set for December 15, 1997, by
the U.S. Bankruptcy Court, Northern District of California.


KIA GROUP: Kia Motors Workers Rally Again
------------------------------------------
Workers at Kia Motors have been on strike since Wednesday
when the government announced that it planned to put their
firm in receivership, according to Associated Press. Kia has
piled up $10 billion in debts.

"We oppose court receivership!" about 3,000 workers chanted
during a several block march that ended peacefully in
central Seoul.

Workers fear a takeover by Samsung, the nation's largest
conglomerate, which reportedly is interested in Kia.
Demonstrators claim the government and creditor banks have
tried to force Kia's leadership to resign under court
receivership and then sell the company to a third party,
perhaps Samsung, that may lay off workers and curtail union
activities.

Some other unions representing auto workers have threatened
to begin a sympathy strike yesterday to show support for Kia
workers.


LOUISE’S TRATTORIA: Meeting of Creditors
------------------------------------------
A creditors meeting for Louise’s Trattoria, Inc., which
filed Chapter 11 on September 9, 1997, in the Central
District of California, has been set for November 20 1997,
in Los Angeles.


STEINBERG’S: Liquidators to Conduct Sale of Inventory
-----------------------------------------------------
Steinberg’s, Inc., has abandoned the idea of conducting
internal going-out-of-business sales. Instead, at an
expedited hearing on October 10, judge J. Vincent Aug. Jr.,
of U.S. Bankruptcy Court, Southern District of Ohio, Western
division, approved Steinberg’s sale of store and warehouse
inventory and service merchandise to Asset Recovery Systems,
Inc., (ARS) and Petters Warehouse Direct, Inc., (PWD).

ARS will purchase inventory from Morristown and two
Knoxville, Tennessee, stores and the Richmond, Somerset, and
two Lexington, Kentucky, stores for a price 65 cents on the
dollar of Steinberg’s original wholesale invoice cost. ARS
will put down a deposit of $100,000 toward the purchase of
the inventory, with the balance to be paid after a physical
inventory is conducted. ARS will sell the inventory
beginning in October 1997, through January 31, 1998, from
the Knoxville, Lexington, and Richmond stores and will be
responsible for all expenses including rent, insurance,
utilities, employee compensation, and taxes.

Inventory from stores in Columbus, Indiana; Alexandria and
Florence, Kentucky; Hamilton, Wilmington, Middletown, and
six stores in Cincinnati, Ohio; and the Sunnybrook store and
warehouse will be sold to PWD for 65 cents on the dollar of
Steinberg’s original invoice wholesale cost or 55.5 cents on
the dollar, depending on the store location. PWD will also
help find a purchaser for service merchandise at 20 cents or
more on the dollar. PWD can use the store locations on a
month-to-month basis through November 1997 to sell the
inventory and will be responsible for all expenses. The
deposit toward the purchase price is set at $100,000, with
an additional $900,000 to be transferred to Steinberg’s once
an inventory has been taken.


UNITED HEALTHCARE: Sales of Headquarters/Property Approved
-----------------------------------------------------------
U.S. Bankruptcy Court for the District of New Jersey has
approved the sale of United Healthcare System, Inc.’s
building in Newark to Rasik Nagrecha for $390,000 and the
sale of personal property to National Content Liquidators,
Inc., for $1.75 million.


WESTERN PACIFIC: Case Details
-----------------------------
Western Pacific Airlines, Inc., has released an order
regarding management of its Chapter 11 case filed with judge
Sidney B. Brooks of the U.S. Bankruptcy Court for the
District of Colorado. WestPac has retained Christian C.
Onsager and Michael J. Pankow of Faegre & Benson, Denver,
Colorado, as counsel. Counsel for the Official Creditors’
Committee are James T. Markus, Howard R. Tallman, and John
F. Young of Block Markus Williams, in Denver, and the
committee chair is BF Goodrich Aerospace (Dennis M. O’Dea),
New York, New York. The attorney designated by the U.S.
Trustee’s Office, Denver, is Leo Weiss.

A meeting of creditors is set for November 5, 1997, in
Denver.


Meetings, Conferences and Seminars

M E E T I N G S ,  C O N F E R E N C E S  &  S E M I N A R S

Meetings, Conferences and Seminars
----------------------------------

October 30-31, 1997
   TEXAS TECH UNIVERSITY SCHOOL OF LAW,
   ASSOCIATION OF CHAPTER 12 TRUSTEES, and
   WEST TEXAS BANKRUPTCY BAR ASSOCIATION
      13th Annual Farm, Ranch and Agri-Business
      Bankruptcy Institute
         Holiday Inn--Lubbock Plaza, Lubbock, Texas
            Contact 1-806-794-1215

November 3, 1997
   NEW YORK STATE BAR ASSOCIATION
      "Serial Chapter 11 Filings: Chapter '22' Cases"
         Southgate Tower Hotel, New York, New York
            Contact: 1-518-463-3724

November 13-14, 1997
   MID-SOUTH COMMERCIAL LAW INSTITUTE
      "The Changing Landscape for the Commercial Law
Practitioner"
         Hermitage Hotel, Nashville, Tennessee
            Contact 1-615-259-1450

November 17-18, 1997
   BANKING LAW INSTITUTE,
   BANK LENDING INSTITUTE, and
   EXECUTIVE ENTERPRISES
      Commercial Loan Workouts
         Chicago, Illinois
            Contact 1-800-831-8333

November 19, 1997
   NASSAU COUNTY BAR ASSOCIATION and
   SUFFOLK COUNTY BAR ASSOCIATION, jointly with
   SUFFOLK ACADEMY OF LAW
      1997 Annual Bankruptcy Law Update
         Suffolk County Bar Center, Hauppauge, New York
            Contact 1-516-747-4464

November 21-24, 1997
   COMMERCIAL LAW LEAGUE OF AMERICA
      77th Eastern District Meeting
         New York Marriott World Trade Center, New York

December 3-4, 1997
   STRATEGIC RESEARCH INSTITUTE
      4th Annual Conference on Distressed Debt
         Crowne Plaza Hotel, New York, New York
            Contact 1-800-599-4950

December 4-6, 1997
   AMERICAN BANKRUPTCY INSTITUTE
      Winter leadership Conference
         La Costa Resort & Spa, Carlsbad, California
            Contact 1-703-739-1060

December 5-6, 1997
   STETSON UNIVERSITY COLLEGE OF LAW
      22nd Annual Bankruptcy Seminar
         DoubleTree Surfside Resort Hotel,
         Clearwater Beach, Florida
            Contact 1-813-562-7830

DECEMBER 10-11, 1997
   INSTITUTE FOR INVESTMENT RESEARCH
      Investment Opportunities in Workouts & Turnarounds
         Downtown Conference Center, New York, New York
            Contact 1-212-661-3500

December 11-13, 1997
   AMERICAN LAW INSTITUTE--AMERICAN BAR ASSOCIATION
      9th Annual Advanced Court of Study,
      The Emerged and Emerging New Uniform Commercial Code
         Sheraton New York Hotel, New York, New York
            Contact 1-800-CLE-NEWS, ext. 1630

December 15-16, 1997
   PRACTICING LAW INSTITUTE
      Basics of Bankruptcy and Reorganization
         PLI Conference Center, New York, New York
            Contact 1-800-260-4PLI or http://www.pli.edu

January 29-February 1, 1998
   COMMERCIAL LAW LEAGUE OF AMERICA
      37th Southern District Annual Meeting
         Plaza San Antonio, San Antonio, Texas
            Contact 1-972-285-0391

February 22-25, 1998
   NORTON INSTITUTES ON BANKRUPTCY LAW
      12th Annual Norton Bankruptcy Litigation Institute I
         Olympia Park Hotel, Park City, Utah
            Contact 1-770-535-7722

March 26-29, 1998
   NORTON INSTITUTES ON BANKRUPTCY LAW
      10th Annual Norton Bankruptcy Litigation Institute II
         Flamingo Hilton, Las Vegas, Nevada
            Contact 1-770-535-7722

May 22-25, 1998
   COMMERCIAL LAW LEAGUE OF AMERICA
      50th New England District Annual Meeting
         Ocean Edge Resort & Golf Club, Cape Cod,
Massachusetts
            Contact 1-617-720-1355

July 2-5, 1998
   NORTON INSTITUTES ON BANKRUPTCY LAW
      Western Mountains Bankruptcy Law Institute
         Jackson Lake Lodge, Jackson Hole, Wyoming
            Contact 1-770-535-7722


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

                     -----

A listing of meetings, conferences and seminars appears     
every Tuesday.    
    
Bond pricing, appearing each Friday, is supplied by DLS     
Capital Partners, Dallas, Texas.    
    
    
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Washington DC.  Debra Brennan and     
Rebecca A. Porter, Editors.     
    
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