TCR_Public/990707.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, July 7, 1999, Vol. 3, No. 128                                              

ADVANCED TECHNOLOGIES: Kentucky Appeals Injunction
AFFORDABLE HOMES: Subsidiary in Chapter 11
AMPACE CORP: Taps Davenport, Files as Special Counsel
AUTOLEND GROUP: Tries New Start-Up Business Under Reorganization
BAUPOST FUND: Fund Cautions Against Over-Optimism In Market

BCE WEST: GE Capital Objects To Bidding Procedures
CAMBRIDGE ADVANTAGED: Sees Losses In Four Out Of Five Years
CROWN PAPER: Delisted From NASDAQ As Minimum Bid Falls Short
DIAMOND ENTERTAINMENT: Fiscal Year-End Financials To Be Delayed
FITZGERALDS GAMING: Finalizes Sale Of Nevada Club; Settles Claims

GEOGRAPHICS INC: Management Change Delays Filing
HECHINGER: Court Approves Agreement With Liquidators
IMAGYN MEDICAL: Holders Of Most Securities Left Out In The Cold
INTILE DESIGNS: Inability To Gain Refinancing Forces Bankruptcy
LOEHMANN'S INC: Seeks Approval to Assume Management Agreement

LONG JOHN SILVER: Seeks Authority For Third Sale of Properties
MFN FINANCIAL: Change In Company's Certifying Accountant
MICHAEL PETROLEUM: Seeks To Exchange Sr Notes For Common Stock
MONTGOMERY WARD: Judge Convinced To Re-Open Auction Process
NAHDREE GROUP LTD: Company & 13 Subsidiaries File Chapter 11

NATIONAL HEALTH: Files Chapter 11
NIAGARA MOHAWK: Automatic Shutdown At Nine Mile Nuclear Plant
NIAGARA MOHAWK: Calls Bonds For Early Redemption
NIAGARA MOHAWK: Huntley & Dunkirk Coal Stations Sold
NORTH AMERICAN VACCINE: Debt-to-Equity Exchange Made

PERK DEVELOPMENT: Creditors Support Joint Liquidation Plan
PLANET HOLLYWOOD: Baumhauer Resigns As President; Earl Reinstated
PRIMARY HEATLH: Seeks Approval of Agreement with Compucare
SIRENA APPAREL: Financial Irregularities Lead To Bankruptcy
SOUTH BEND STAMPING: Production Stops; Future Bleak

STARTER CORP: Asset Purchase Hearing Set
THE COSMETIC CENTER: Order Extends Time to Assume/Reject Leases
THREE D DEPARTMENTS: Committee Requests Chapter 11 Trustee
UNITED COMPANIES: Creditrust Cancels Planned Acquisition

Meetings, Conferences and Seminars


ADVANCED TECHNOLOGIES: Kentucky Appeals Injunction
The Lexington Herald-Leader, Ky. reports on July 2, 1999
that the state of Kentucky is appealing a preliminary injunction
that prevents state officials from paying subcontractors of
Advanced Technologies International, or ATI, a Lexington company
that is in Chapter 11 bankruptcy.

U.S. Bankruptcy Judge William S. Howard signed the injunction on
June 11 after concluding that the payments proposed under an
emergency regulation issued by Gov. Paul Patton would undermine
the authority of federal bankruptcy courts.

The notice of appeal was filed by Louisville attorney Jonathan
Goldberg, who said the key issue is whether federal courts can
prevent the states from deciding who should be paid from a state
fund even if a bankruptcy is involved.

In this case, Patton determined that the Petroleum Storage Tank
Environmental Assurance Fund should make payments directly to
ATI's subcontractors to keep them in business so some 1,550
underground storage tanks could be removed by the Dec. 31 federal

Under normal circumstances, payments from the fund would go to
ATI, which could pay the subcontractors. But since ATI is
reorganizing under bankruptcy court protection, the court would
determine if money received by ATI should go to the
subcontractors or to ATI's other creditors.

The notice of appeal was filed in bankruptcy court, which is
expected to transfer case records to U.S. District Court in
Lexington by mid-July, Goldberg said.

The district court will then determine if it will hear the
appeal.  Attorneys say more appeals could be filed by other
parties because the ATI case is complex. The core issue of
federal power over the states could take the case as far as the
U.S. Supreme Court, they say.

The high court issued three rulings on June 23 that pushed "the
doctrine of state sovereignty well beyond existing boundaries,"
The New York Times said.

The court made states immune from lawsuits by state employees
alleging violations of federal labor laws; by patent owners
claiming their patents were violated by state agencies; and by
business people claiming that state business activities are
unfair competition.

ATI and two affiliated Lexington companies -- Technologies
International Holdings Inc. and Meridian Transport Co. -- filed
Chapter 11 petitions in February.

They listed $52 million in assets and $48.5 million in
liabilities, and left about 1,550 incomplete petroleum storage
tank removal projects at service stations, convenience stores and
other sites around the state.  Work is under way at about 88
sites where completion is considered urgent.

Howard also has approved a two-stage auction process that is
expected to end in August with the award of the remaining
projects to a new contractor in time for completion by the
federal deadline.

AFFORDABLE HOMES: Subsidiary in Chapter 11
Affordable Homes of America Inc. announced Friday that is wholly
owned subsidiary, Kampen & Associates Inc., has filed for chapter
11 protection, according to a newswire report. Kampen is current
with its first mortgage, but its financial problems stem from
the second mortgage holder, the Shoalwater Indian Tribe of
Seattle. The interest on the bond was in default for over a year
when Affordable bought Kampen. Affordable purchased Kampen with
the understanding that an extension would be worked out with the
tribe, but that has not come to fruition. Affordable's offer to
fully secure the debt was refused. (ABI 06-July-99)

AMPACE CORP: Taps Davenport, Files as Special Counsel
On June 29,1999, Ampace Corporation and Ampace Freightlines,
Inc., debtors, applied for an order authorizing the employment
and retention of Davenport, Files & Kelly, LLP as special counsel
for the debtor to defend Freightlines in the suit brought by the
EEOC.  Compensation will be on an hourly basis ranging from $150
per hour to $110 per hour for attorneys in the firm.

AUTOLEND GROUP: Tries New Start-Up Business Under Reorganization
AutoLend Group, Inc., is a holding company headquartered in
Albuquerque, New Mexico.  The company is currently winding down
two businesses and starting up a third.  Autolend primarily
operates through its subsidiaries, AutoLend Corporation, which
maintains a residual portfolio of sub-prime consumer used-car
loan contracts purchased from used-car dealers, American Life
Resources Group, Inc. and LBNM, Inc. which maintain
portfolios of unmatured life insurance policies purchased from
persons with life-threatening illnesses.

AutoLend Corporation ceased purchasing loans in December 1995.
The portfolio of loans at March 31, 1999, was $0.1 million before
reserves and consisted of 25 active accounts.  American Life
Resources Group, Inc. and LBNM, Inc. ceased purchasing policies
in September 1994. The 10 remaining policies had an aggregate
face value of $0.8 million and a net book value of $0.1 million
on March 31, 1999.

Since the sale in September 1996 of another subsidiary which
provided short-term "floor" financing to used-car dealers, the
company's activities have been concentrated on developing a new
gaming business (which is now a division of AutoLend Group, Inc.,
under the name of Kachina Gaming); resolving certain obligations
and litigation associated with former operations; collecting
amounts due from the outstanding used-car loans;
collecting proceeds from the policies; and resolving the

AutoLend filed for protection under Chapter 11 of the United
States Bankruptcy Code in the United States Bankruptcy Court for
the District of New Mexico on September 22, 1997.  The company
has since been operating its business under the jurisdiction and
supervision of the Bankruptcy Court. Under Chapter 11, claims
against the company in existence before the filing of the
bankruptcy petition have now been resolved, via the
Bankruptcy Court's confirmation of the company's Plan of
Reorganization, which became effective March 5, 1999.  As a
result, the company now has a positive net equity, and is freely
operating in accordance with its plan.

The material features of the company's Plan of Reorganization
provide for the cancellation of the $7.2 million principal of
convertible subordinated debentures and accrued interest thereon,
and all of the equity securities as of March 5, 1999.  Unsecured
creditors have now received payments for 100 percent of their
allowed claims.The holders of the debentures will receive
approximately 1.0 million shares of the company's common stock,
$3.0 million in cash, and non-interest bearing, uncollateralized
notes totaling $0.6 million, payable in five annual payments.  
AutoLend is presently in the final stages of verifying the
appropriate disbursements to be made for these debentures.  The
appropriate cash has been escrowed for these forthcoming
payments.  The company made the first distributions related to
the debenture obligation of approximately $1.8 million during
June 1999 and anticipates distributions being substantially
completed by the end of July 1999.  The holders of the
canceled common and preferred stock have the right to purchase
defined amounts of new shares of common stock during certain
periods beginning on the effective date of the company's final  
Registration Statement.  The price per share of the new common
stock is $1.00.  The holders of the company's Class A and B
Warrants and Options have a 12-month period beginning March 5,
1999, to purchase the same number of shares of common
stock as originally provided for under the Warrants or Options,
at $4.00 per share.  AutoLend expects that only a portion of the
additional shares will actually be purchased by existing equity
holders, resulting in projected total common stock outstanding of
from 1.5 million to 9.0 million shares.  This would result in a
total new equity (before the impact of any interim operating
results) from $0.5 million to $8.0 million.

A Registration Statement was filed on June 8, 1999, with the
Securities and Exchange Commission  to register the shares of the
new common stock to be issued in connection with the Plan of
Reorganization.  This Registration Statement is still subject to
the normal review process by the staff of SEC and upon completion
of such review, these shares may be issuable under the
terms of the Plan of Reorganization.  The offering will include
1,040,000 shares of new common stock for debenture holders; up to
6,079,530 shares of new common stock for holders of old common
stock; up to 5,780,000 shares of new common stock for holders of
old preferred stock; up to 2,663,500 shares of new common stock
for holders of old Class A and B Warrants; and up to
3,660,000 shares for holders of old Options.  A total of up to
19,223,030 new shares of common stock may be issued and
outstanding.  However, as stated above, the company estimates
that between 1.5 and 9.0 million shares only will be issued as a
result of the offering, depending upon the number
of shares subscribed for.  And, as stated above, holders of old
common stock and/or old preferred stock must pay $1.00 per share
for any new common stock.  These holders have approximately 60
days following the final issuance of the Registration Statement
in which to elect their purchase.  Holders of old Warrants and/or
Options have until March 4, 2000, to buy new common stock at the
$4.00 per share figure.

AutoLend's Plan of Reorganization involves developing a new
business that consists primarily of providing gaming devices and
gaming machines for certain non-profit fraternal organizations in
New Mexico.  In 1997, the New Mexico Legislature passed the
"Gaming Control Act."  The company proposes to provide, supply,
and service gaming devices as described in the Gaming
Control Act, and the business would be regulated by the New
Mexico Gaming Control Board.  As of June 18, 1999, legalized
gaming in non-profit organizations has not yet begun in New
Mexico; it is presently thought that this will begin in the next
30 to 90 days.  The company has commenced its efforts in this
arena, doing business as Kachina Gaming, which has been
organized as a Division of AutoLend Group, Inc.  In connection
with these efforts, the company has hired a Vice President of
Gaming Development and Marketing.

AutoLend's management believes it can obtain the proper licenses,
gaming machines, and contracts with non-profit organizations to
make this business viable, and which will allow the company to
meet its obligations.  In this regard, the company has made
application to the New Mexico Gaming Control Board for licensure
as a distributor.  Additionally, the company has signed
a number of contingent contacts with fraternal organizations,
whereby it would supply gaming machines to licensed operators.  
AutoLend is also holding discussions with several licensed gaming
machine manufacturers with respect to obtaining such machines.  
In as much as no distributors have yet commenced such licensed
operations in New Mexico, and no fraternals have yet commenced
regulated gaming here, potential operating results are
unknown, and thus the company cannot promise success in this

BAUPOST FUND: Fund Cautions Against Over-Optimism In Market
Baupost Fund states it is pleased to report a gain of 8.62% for
the six months ended April 30, 1999.   While less than the gains
recorded by the broad market indices, the investment firm
indicates that the profit for the latest six months meets its
ongoing objective of positive returns delivered with "limited
downside risk".

For the six month period ended April 30, 1999 the Fund showed
total investment income of $1,869,032 with net investment income
of $794,072.  At that point in time the Fund held 42% of its
investments in U.S. Treasury bills and/or government securities;
25% in public and private investment in troubled companies; 32%
in undervalued securities and the remaining 1% in market hedges
and options.

The Fund continues to face an unprecedented market environment
with extreme volatility. It has said that in the face of very
high prices, affordable and appropriate hedging is next to
impossible. In its assessment, significant caution is called for
at this time, and this is how the Fund indicates it is
positioned. "While everyone else on Wall Street motors ahead at a
frenetic pace, we are intentionally going slowly, unafraid of
missing out on speculative gains and intent on protecting
capital," states the Baupost Fund.  Further it has said that this
is an extremely challenging and dangerous environment, and it
would rather be overly cautious and forego some profit than
overly optimistic and potentially much poorer.

BCE WEST: GE Capital Objects To Bidding Procedures
General Electric Capital Corporation objects to the debtors'
motion for an order establishing bidding procedures and approved
bid protection break-up fee and expense reimbursement.  It
objects to the use of its collateral without its consent to pay a
break-up fee (of $5 million) payable to an unspecified purchaser
of, or investor in the debtor's business pursuant to an
unidentified future offer under a plan of reorganization that has
not been drafted on terms that are yet unknown.  Under a Master
Lease and a Secured Revolving Credit Agreement among Bank of
America, certain lenders and the debtors, GE Capital, Bank of
America and the lenders are owed in excess of $220 million and
have liens on substantially all of the debtors' property.  The
secured creditors have subordinated their liens on such property
to the liens securing the DIP Facility which has an outstanding
balance of approximately $50 million.

GE Capital does not object to the concept of the availability of
a break-up fee or provisions for a "stalking horse" offer, but it
believes that the relief is currently premature and unwarranted.  

CAMBRIDGE ADVANTAGED: Sees Losses In Four Out Of Five Years
Cambridge Advantaged Properties Limited Partnership (formerly
Hutton Advantaged Properties Limited Partnership) is a limited
partnership which was formed under the laws of the Commonwealth
of Massachusetts on June 28, 1984.  The General Partners of the
Partnership are Assisted Housing Associates Inc. (formerly
Cambridge Assisted Housing Associates Inc.), and Related Beta
Corporation, both of which are Delaware corporations affiliated
with The Related Companies, L.P., a New York limited
partnership, and Cambridge/Related Associates Limited Partnership
(formerly Hutton/Related Associates Limited Partnership)
("Cambridge/Related"), a Massachusetts limited partnership.  The
general partners of Cambridge/Related are the Assisted General
Partner and the Related General Partner.  The General Partners
manage and control the affairs of the Partnership.

The Partnership was formed to invest, as a limited partner, in
other limited partnerships or "subsidiary partnerships", each of
which owns or leases and operates an existing residential housing
development which is receiving some form of local, state or
federal assistance, including mortgage insurance, rental
assistance payments, permanent mortgage financing and/or interest
reduction payments.  The stated objectives of the Partnership in
acquiring its interests in the local Partnerships, are to
provide current tax benefits in the form of tax losses which
limited partners may use to offset taxable income from other
sources; provide long-term capital appreciation through an
increase in the value of the Partnership's investments in local
Partnerships; provide cash distributions from sale or refinancing
transactions; and preserve and protect the Partnership's capital.

As of March 25, 1999, the Partnership holds a 98.99% limited
partnership interest in each of forty-eight local Partnerships,
which own forty-eight apartment complexes receiving government
assistance.  During the fiscal year ended March 25, 1999, the
properties and the related assets and liabilities owned by one
subsidiary partnership were sold to a third party and the
Partnership's local Partnership interests in three subsidiary
partnerships were sold to third parties and the local
Partnership's general partner, respectively.  Through the fiscal
year ended March 25, 1999, the properties and the related assets
and liabilities owned by seven subsidiary partnerships were sold
to third parties and the Partnership's local Partnership
interests in six subsidiary partnerships were sold to third
parties and the Local Partnership's general partner,

No public market has developed, and it is not anticipated that
any public market will develop, for the secondary purchase and
sale of any Limited Partnership interests.  Limited Partnership
interests may be transferred only if certain requirements are
satisfied, including the rendering of an opinion of counsel to
the Partnership that such transfer would not cause a termination
of the Partnership under Section 708 of the Internal Revenue
Code and would not violate any federal or state securities laws.  
As of May 26, 1999, there were approximately 4,488 registered
holders of Limited Partnership interests.

The Partnership has sustained a 1998 fiscal year (ended March 25,
1999) loss of $1,134,466 on revenues of $36,695,719.  This
compares with a fiscal year gain in 1997 of $20,650,192 on
revenues of $37,441,984.  Over the past three years, 1994 through
1996, the Partnership incurred fiscal year-end net losses of
$13,598,663; $15,644,033; and $2,363,628, respectively.  

CROWN PAPER: Delisted From NASDAQ As Minimum Bid Falls Short
Crown Vantage Inc. announced, on June 18, 1999, that its  common
stock would be available for quotation on the NASD Over-The-
Counter Bulletin Board (OTCBB) as of Monday, June 21.

The announcement followed notification by the Nasdaq National
Market that the company's securities were delisted with the close
of business on June 18, 1999.  Crown Vantage stock needed to
reach a minimum bid price of $5 by June 18, 1999 to remain
eligible for trading on the National Market.

Crown Vantage makes and markets specialized papers for printing,
publishing, packaging and converting at its 10 pulp and paper
mills in the United States and Scotland.  It had sales in 1998 of
$851 million.

DIAMOND ENTERTAINMENT: Fiscal Year-End Financials To Be Delayed
Moore Stephens, P.C., Certified Public Accountants, have notified
the SEC that, as Diamond Entertainment Corporation's independent
certified public accountants, they have had insufficient time to
complete the audit work necessarty to file timely the company's
financial statements of March 31, 1999 and the fiscal year then
ended.  The deadline for filing was June 29, 1999.  The CPA firm
advises there will be delay due to the extensive period of time
covered by the financial information and the related delay in  
developing data for the financial statements.

The company anticipates a net loss of $1,500,000  resulting from
a loss from operations of $1,400,000 for the year ended March 31,

FITZGERALDS GAMING: Finalizes Sale Of Nevada Club; Settles Claims
On June 18, 1999, Fitzgeralds Gaming Corporation completed the
sale of Nevada Club to Harrah's Entertainment, Inc., referred to
previously in Fitzgeralds' periodic reports as the undisclosed
purchaser, for $3.8 million. At the same time, Fitzgeralds also
sold the parcel of land known as the Campbell Parcel to Harrah's
for $0.37 million and executed settlement agreements with the
four Harolds Club land lessors to resolve all claims against the
company and its affiliates concerning related matters.  Net cash
to Fitzgeralds after making related debt and settlement
payments, was approximately $2.0 million.

GEOGRAPHICS INC: Management Change Delays Filing
Geographics Inc. was delayed in filing its annual report for the
year ended March 31, 1999.  The company reports, as reasons for
the delay:  On April 16, 1999, the company held its first meeting
of shareholders in over two years.  At the special meeting, the
company elected three new directors and appointed a new executive
officer.  Subsequent to the special meeting, the company
experienced significant turnover within its accounting and
finance department, including the loss of its controller.

At the time of the special meeting, the company's former
management had not yet engaged an accounting firm to conduct the
audit for the fiscal year.  As a result of the management
turnover, together with the delay by former management in
engaging the company's auditors, the company said it
was not possible to complete its annual report for the fiscal
year ended March 31, 1999 within the prescribed time period.  The
company expected to file the annual report on or around June 30,

Geographics previously reported a net loss from continuing
operations of $3,096,106 for the year ended March 31, 1999 versus
a net loss from continuing operations of $9,622,709 for the year
ended March 31, 1998. Net income was $1,440,474 for the year,
which included a gain on the sale of the company's former sign
and lettering business of $5,607,580, versus a net loss of
$8,649,618 for the prior year.  Net sales for the year were
$19,237,062 versus $19,976,290 for the prior year.

HECHINGER: Court Approves Agreement With Liquidators
The US Bankruptcy Court for the District of Delaware entered an
order approving the motion of the debtors, Hechinger Investment
Company of Delaware, Inc., et. al. seeking approval of an
agreement with Gordon Brothers Retail Partners, LLC, ALCO Capital
Group, Inc., Hilco Trading Co., Inc., Garcel, Inc., The Ozer
Group LLC, and The Nassi Group, LLC,  as Liquidation Agent; and
authorizing the debtors to conduct store closing sales, and to
pay stay incentive to certain employees (not to exceed $2.5

IMAGYN MEDICAL: Holders Of Most Securities Left Out In The Cold
Imagyn Medical Technologies, Inc. announced on June 25, 1999 it
had filed a Plan of Reorganization in the U.S. Bankruptcy Court
for the District of Delaware. The filing was made in connection
with the company's petition on May 18, 1999 for reorganization
under Chapter 11.

The proposed plan contemplates that the company's existing
secured creditors will be paid in full over time from the
company's future revenues or from the proceeds of replacement
financing that the company must obtain. Trade creditors who agree
to continue to provide goods and services on normal trade terms
will be paid in cash in full, as will the company's
employees with priority claims for pre-petition wages and
employee benefits. Other trade creditors, and the holders of the
company's $110 million in 12.5% Senior Subordinated Notes, will
receive new common stock representing 88% of the equity in the
reorganized company. The balance of the equity will be held by
management and certain other creditors. Management will also
receive options to purchase additional equity based
upon the future performance of the company.

The plan is based upon an agreement with Credit Suisse First
Boston Management Corporation, which holds a majority of Imagyn's
12.5% Senior Subordinated Notes and which also holds certain
secured claims against Imagyn. It is anticipated that, upon
confirmation, Credit Suisse First Boston will own or control
approximately 75% of the equity in the reorganized company.

Holders of Imagyn's 8.75% Convertible Subordinated Debentures, as
well as holders of currently outstanding common stock, warrants,
options or stock rights will not receive any property for these

The company anticipates that the plan will be considered for
approval by the Bankruptcy Court in September.

Charles A. Laverty, Imagyn's Chairman and Chief Executive
Officer, said, "We are pleased to report significant progress
toward our goal of developing a Plan of Reorganization that can
provide Imagyn with a more stable financial structure. The Plan
we have proposed has the support of the holders of a majority of
the company's debt."

Imagyn Medical Technologies, Inc. is a designer, manufacturer and
marketer of urological, gynecological and general surgery medical
products for the health care market.

INTILE DESIGNS: Inability To Gain Refinancing Forces Bankruptcy
Intile Designs, Inc. filed a voluntary petition for protection
under Chapter 11 of the U.S. Bankruptcy Code on May 14, 1999.
This action was precipitated by an inability to complete a timely
refinancing of its secured debts. The company says it intends to
continue negotiations with potential investors and complete its
plan for reorganization.

The voluntary petition was filed with the United States
Bankruptcy Court in the Southern District of Texas. Intile
Designs remains in possession of its assets and is administering
the case as Debtor-in-Possession.

LOEHMANN'S INC: Seeks Approval to Assume Management Agreement
The debtor, Loehmann's Inc., seeks court approval for the
debtor's assumption of a Management Agreement between the debtor,
EIG Management Inc. and Eliot I. Green.

The debtor has agreed to pay EIG a sum of $37,500 per month plus
expenses.  In April, 1999, Loehmann's chief financial officer
resigned, and since that time, the debtor has used the services
of EIG and particularly Eliot I. Green, as replacement CFO.

LONG JOHN SILVER: Seeks Authority For Third Sale of Properties
The debtor, Long John Silver's, Inc. Seeks authority to sell
eight nonresidential real properties pursuant to certain sales
contracts between the debtors and  and respective purchasers.  
The bidding procedures permit submission of competing bids.  The
debtors expect that the transactions will net approximately
$1,170,000 for their estates.

The locations of the real properties to be sold are as follows:

Lantan, Florida
Largo, Florida
Margate, Florida
Universal City, Missouri
Bay City, Texas
Gainesville, Texas
Redford Twp., Michigan
Redding, California

MFN FINANCIAL: Change In Company's Certifying Accountant
On March 22, 1999, Arthur Andersen LLP informed MFN Financial
Corporation, formerly known as Mercury Finance Company, that it
has declined to stand for re-appointment as the company's
independent accountant for the 1999 fiscal year. Arthur Andersen
LLP indicated that as a result of the confirmation by the United
States Bankruptcy Court for the Northern District of Illinois of
the company's second amended plan of reorganization, MFN
Financial was considered by the firm to be a "new
client", and the firm is not currently accepting new audit
engagements in the sub prime consumer finance industry.

The audit reports of Arthur Andersen LLP on the financial
statements of the company for each of the company's last two
fiscal years were qualified as to uncertainty regarding MFN's
ability to continue as a going concern.  Arthur Andersen LLP's
report relating to the company's financial statements for the
year ended December 31, 1998, noted that MFN had incurred losses
in 1996 through 1998 and was continuing to incur losses in
1999, the continuation of the business after the effective date
of the company's second amended plan of reorganization was
dependent on the company's ability to achieve sufficient cash
flow to meet its restructured debt obligations, and such matters
raised substantial doubt about the company's ability to continue
as a going concern.

During MFN's two most recent fiscal years and the interim period
from January 1, 1999 through March 22, 1999, there is said to
have been no disagreements with Arthur Andersen LLP on any matter
of accounting principles or practices, financial statement
disclosure or auditing scope or procedure, which, if not resolved
to the satisfaction of Arthur Andersen LLP, would have caused it
to make reference to the subject matter of the disagreements in
connection with its report.

MICHAEL PETROLEUM: Seeks To Exchange Sr Notes For Common Stock
On June 29, 1999, representatives of Michael Petroleum
Corporation and its financial advisor met with certain holders of
the company's $135 million 11 1/2% Senior Notes due 2005
regarding the restructuring of the company's senior indebtedness.  
As previously announced, the company's financial advisor had been
engaged in April 1999 to seek financial restructuring
alternatives and had been engaged in preliminary
discussions with noteholders regarding these alternatives.

Michael Petroleum currently lacks the liquidity and capital
resources necessary to fund its operations and maintain and grow
its production revenues and proved reserve base.  The company has
no borrowing capacity under its Credit Facility with Christiania
Bank og KreditKasse due to borrowing base reductions effective
March 31, 1999, and is currently paying the default rate of
interest under the credit agreement.  The company is currently
negotiating an amendment to its credit agreement with
Christiania, but gives no assurances that any amendment can be
made or any waivers will be forthcoming and in any event, it is
unlikely that additional borrowings from Christiania will be made
available.  The company is currently seeking alternative sources
to fund its short-term capital needs, but no assurances can be
given that funding from these or any other sources will be made

At current natural gas price levels and production volumes, it is
unlikely that Michael Petroleum will be able to collectively fund
drilling expenditures for its already-reduced level of
development operations, reduce the aging on its accounts payable,
commence amortization of the $23 million principal balance
outstanding on the credit facility as presently
scheduled, and pay the October 1, 1999 interest payment on the
Senior notes.  As stated, on June 29, 1999, the company met with
representatives of holders representing more than one-half of the
outstanding Senior notes regarding a proposal to exchange the
Senior notes for common stock of the company representing, after
giving effect to the exchange, approximately 93% of the
outstanding common stock of the company.

Under this proposal, existing stockholders of Michael Holdings,
Inc., the company's parent corporation, and management of the
company, would own approximately 7% of the outstanding common
stock after giving effect to the exchange, and would also be
issued warrants to acquire up to approximately an additional 20%
of the common stock of the company. A restructuring of the
company's Senior note indebtedness could be implemented outside
of insolvency proceedings or in connection with court-supervised
bankruptcy proceedings, depending on the degree of noteholder
support for the alternative chosen.

The proposal described above is preliminary in nature and Michael
Petroleum is making no predictions as to the degree of success
the company may achieve in its negotiations with noteholders,
whether a restructuring of its Senior note indebtedness will be
accomplished on the terms described above, whether such a
restructuring can be effected outside of bankruptcy,
if at all, or if accomplished, whether the company will be able
to achieve its business plan objectives following such a

MONTGOMERY WARD: Judge Convinced To Re-Open Auction Process
AG Realty Acquisition Corp. (an Angelo, Gordon & Co. affiliate)
presented the Debtors with a $62,000,000 offer for the purchase
of their Corporate Tower Property -- consisting of 2.1 million
square feet of catalog buildings north of Chicago Avenue along
the river, the 460,000-square-foot merchandise building south of
Chicago, two surface parking lots and vacant land, and excluding
the 26-story, 579,000-square-foot tower building at 535
W. Chicago and a parking garage that Ward's will continue to own.  

The Debtors concluded that AG Realty's offer constituted a higher
and better than eighteen-month old agreement with Ocean Atlantic
Development Corporation to acquire the entire complex, including
the tower, for $110 million.  Accordingly, the Debtors sought and
obtained Judge Walsh's authority to conduct an auction for the
Property based on this new offer.  

The Debtors conducted an auction.  AG Realty submitted the only
bid: $62,000,0000 in cash.  OADC was urged to bid, but declined,
claiming to have partnered with a new financier and complaining
that the auction process was unfair.  Disgruntled by the Debtors'
action process and, presumably, facing the prospect of forfeiting
its non-refundable deposit, OADC successfully convinced Judge
Walsh to re-open the auction process and permit OADC more time to
talk to a new financier, over AG Realty's strenuous objections.  

Returning to Court, AG Realty charges that OADC committed a fraud
on the Court at the Sale Hearing.  Generally, AG Realty asserts,
OADC doesn't have enough money to complete the transaction -- it
hasn't for the past 18 months and it doesn't today.  
Specifically, AG Realty complains that OADC identified Concord
Development Corporation as its new financier.  AG Realty
has contacted Concord and Concord says it is not OADC's financing
source.  Accordingly, AG Realty argues, the Court should vacate
its order allowing OADC more time to bid, shut down the auction
process, declare AG Realty the successful bidder, and approve the
AG Realty Sale Transaction.  

AG Realty makes it clear that if the order is not vacated, AG
Realty intends to appeal Judge Walsh's Ruling granting OADC
additional bidding time and to seek specific performance of its
Agreement with the Debtors.   

OADC's unscrupulous efforts to tie up the Property without paying
for it should not be tolerated by the Court, AG Realty argues,
asserting that AG Realty, the Debtors, the creditors and this
Court are all victims of Ocean Atlantic's conduct.  OADC's last
ditch attempt to delay the sale to AG Realty should shock the
Court's conscience, AG Realty suggests.  AG Realty bid in good
faith, observed and justifiably relied on the Procedures Order
and invested enormous resources in pursuing this transaction.  It
has suffered and will continue to suffer from the uncertainty
which Ocean Atlantic has brought to the Property.  

NAHDREE GROUP LTD: Company & 13 Subsidiaries File Chapter 11
Nahdree Group Ltd. and the 13 subsidiaries listed below filed
petitions under Chapter 11 of the United States Bankruptcy Code
on June 18, 1999, in the United States Bankruptcy Court for the
District of New Jersey. The names of the companies filing under
Chapter 11 and their respective bankruptcy case numbers are:

    The Nahdree Group, Inc.                     99-37082
    Nah Nah Collection Inc.                     99-37084
    NNCS-NJ LLC                                 99-37081
    HRNL, Inc.                                  99-37078
    H.R.I., Inc.                                99-37079
    N.N.C.S. LLC                                99-37086
    European Collections of Harriman, Inc.      99-37083
    European Collections of Williamsburg, Inc.  99-37080
    European Collections of Chattanooga, Inc.   99-37075
    European Collections of Silverthorne, Inc.  99-37088
    European Collections of Queenstown, Inc.    99-37077
    European Collections of Gilroy, Inc.        99-37085
    European Collections Outlet, Inc.           99-37087

NATIONAL HEALTH: Files Chapter 11
National Health & Safety Corp., Warminster, Pa., has filed for
chapter 11 protection and it expects to file its reorganization
plan within two weeks, according to a newswire report. A
spokesperson for the company said it expects that the plan will
provide for future third-party financing of operations, a strong
Internet health care presence and marketing liaisons with large
national corporations. National Health, which is a provider
of a national health network offering discounts of up to 50
percent on the cost of medical products and services, said the
filing was in the best interests of creditors and
shareholders. (ABI 06-July-99)

NIAGARA MOHAWK: Automatic Shutdown At Nine Mile Nuclear Plant
On June 24, 1999, The Nine Mile Point Unit Two nuclear plant
automatically shut down at 3:41 p.m. due to a malfunction in a
device that controls water levels in the plant, according to
officials at Niagara Mohawk Power Corporation.

An estimated restart date will be determined after a complete
assessment of the cause of the shutdown.

Niagara Mohawk operates and is a 41 percent co-owner of Nine Mile
Two, a 1,140-megawatt plant.  Other owners are:  New York State
Electric & Gas Corporation (18 percent), Long Island Power
Authority (18 percent), Rochester Gas and Electric Corporation
(14 percent), and Central Hudson Gas & Electric Corporation (9
percent).  The plant is located in Scriba, New York,
approximately 40 miles north of Syracuse.

Niagara Mohawk is an investor-owned energy services company that
provides electricity to more than 1.5 million customers across
24,000 square miles of upstate New York.  The company also
delivers natural gas to more than 500,000 customers over 4,500
square miles of eastern, central and northern New York.

NIAGARA MOHAWK: Calls Bonds For Early Redemption
Niagara Mohawk Power Corporation on June 14, 1999 announced that
alloutstanding 9.5 percent series first mortgage bonds due March
1, 2021, would be redeemed on July 14, 1999.  Bonds outstanding
total $150 million.

The bonds are being redeemed at the applicable optional
redemption price of 105.87 percent, plus accrued interest to July
14.  On and after that date, interest on the bonds will cease to
accrue.  A Notice of Redemption was mailed on behalf of the
company by HSBC Bank USA, as trustee, to holders of these bonds.

The bonds are being redeemed as part of Niagara Mohawk's plan to
retire more than $1 billion in debt in 1999.  "We are committed
to follow through on our strategy to retire capital and rebuild
shareholder value," said William E. Davis, Chairman and Chief
Executive Officer of Niagara Mohawk Holdings.

Niagara Mohawk Power Corporation, a subsidiary of Niagara Mohawk
Holdings, Inc., is a regulated energy delivery company providing
energy and energy services to the largest customer service area
in New York State.

NIAGARA MOHAWK: Huntley & Dunkirk Coal Stations Sold
On June 11, 1999, Niagara Mohawk Power Corporation, a wholly
owned subsidiary of Niagara Mohawk Holdings, Inc. announced the
closing of the sale of its Huntley and Dunkirk coal-fired
electric generating stations.  NRG Energy, Inc., a wholly owned
subsidiary of Northern States Power Company, has acquired the
plants for $355 million.  The sale of the coal stations, with a
combined capacity of 1,360 megawatts,was announced last

"Completion of the sale of the Huntley and Dunkirk stations
represents a major step in the divestiture of our generating
assets and allows us to make progress on our strategy to restore
shareholder value," said William E. Davis, Chairman and CEO of
Niagara Mohawk Holdings, Inc.  "We will use the proceeds from the
sale to retire debt as we seek to optimize our capital

The Huntley Station is located on the Niagara River, just north
of the city of Buffalo.  The Dunkirk Station is located on the
shores of Lake Erie in Dunkirk, New York.  Under a transition
power contract in place through June 2003, Niagara Mohawk will
purchase electricity generated by the coal stations at negotiated

The divestiture of Niagara Mohawk's generating assets was one of
the key elements of the company's POWERCHOICE plan to reduce
prices and promote competition.

NORTH AMERICAN VACCINE: Debt-to-Equity Exchange Made
On  June  17,  1999,  North  American  Vaccine,  Inc. completed  
a transaction  under which the company  retired  approximately  
$8.4 million  of its  6.50%  convertible  subordinated  notes in
exchange for the issuance of 550,000  shares of the company's  
common stock.  The calculated  value of the common stock in the
exchange was $15.28 per share. The company will save  
approximately  $546,000 in annual interest charges as a result of
the exchange.

The exchange was privately negotiated with a single holder of the
6.50% notes. The notes were issued in May 1996 and are
convertible into common stock at a conversion price of  
approximately  $24.86 per share.  These notes mature on May 1,  
2003.  As of March 31, 1999, the principal  amount of the
outstanding 6.50% notes was approximately $83.7 million.
Following the exchange, the principal balance of the outstanding
notes was approximately  $75.3 million. Interest on the 6.50%  
notes is payable semi-annually  on May 1 and  November 1 each
year. As of March 31, 1999, there were 32,281,576 shares of
common stock outstanding.

As a result of this debt-to-equity exchange, the net adjustments
to the company's  balance  sheet  will  reflect a  decrease  in  
long-term  debt and an increase in shareholders' equity by
approximately $8.4 million. In addition, the conversion will
generate a one-time non-cash debt conversion expense during the
second quarter of 1999 of approximately  $950,000.  The company
anticipates that any taxable income realized by this transaction  
will be offset by current and pre-existing net operating losses.

In a separate matter, the U.S.  District Court, District of
Maryland,issued an order on June 18, 1999  dismissing  all claims
filed by Sharon Mates, the company's former president, against
the company, the two named directors and affiliate, BioChem
Pharma Inc.

The lawsuit was filed by Dr. Mates in November 1998 and included
claims against the  company  and  two  directors  for,  among  
other things, abusive discharge,  defamation,  interference  with  
business  relations, and breach of contract.  In December 1998,
North American Vaccine responded by filing a motion to dismiss
seeking a court order dismissing all claims on the basis that the
allegations in the complaint are not recognizable under
applicable law.

PERK DEVELOPMENT: Creditors Support Joint Liquidation Plan
The Joint Committee of Unsecured Creditors of Perk Development
Corporation and Brambury Associates supports the Joint
Liquidatioan Plan of the debtor.  The plan provides for the
distribution of a $500,000 fund to general unsecured creditors.  
In addition, allowed administrative and reclamation claims will
be paid in full.  The plan provides for a plan administrator, to
be selected by the Committee, who will be authorized to pursue
prepetition claims of the debtors and avoidance action claims of
the debtors under the Code.  Net avoidance action proceeds, after
expenses will be shared on a 50/50 basis between tax priority
claimants and the general unsecured creditors. The plan also
provides for substantive consolidation of the debtors which would
eliminate legal and accounting costs.

By order dated June 28, 1999, the US Bankruptcy Court for the
Western District of New York entered an order approving the
adequacy of the Disclosure Statement.  The consolidation hearing
is set for July 21, 1999 at 1:00 PM.  The hearing to consider
confirmation of the plan shall be held on July 29, 1999 at 11:00

PLANET HOLLYWOOD: Baumhauer Resigns As President; Earl Reinstated
On June 25, 1999, Planet Hollywood International, Inc. announced
the resignation of William H. Baumhauer from the position of
President and Chief Operating Officer of the company and the
resignation of Mr. Baumhauer from the company's Board of
Directors. Mr. Baumhauer stated his intention to pursue other
interests as his reason for leaving.  In addition to his role as
Chief Executive Officer, Robert Earl will reassume
his position as the company's President.

PRIMARY HEATLH: Seeks Approval of Agreement with Compucare
The debtors, Primary Health Systems, Inc. and its debtor
affiliates seek court approval of the assumption of an agreement
with the Compucare Company.  Pursuant to the agreement, the
debtors are required to pay Compucare a total of $3 million for
the installation  of the system plus an annual software support
fee of approximately $280,000.  In addition, the debtors now need
a fifth database at a cost of approximately $200,00.  The debtors
seek court approval of their assumption of this agreement on or
before July 14, 1999.

SIRENA APPAREL: Financial Irregularities Lead To Bankruptcy
On June 25, 1999, The Sirena Apparel Group, Inc. announced that
it has filed a voluntary petition to reorganize under Chapter 11
of the United States Bankruptcy Code. Under Chapter 11, the
company will continue to operate its business under court
protection from creditors, while seeking to work out a plan of
reorganization. The petition was filed in the U.S.
Bankruptcy Court for the Central District of California.

On an informal basis, Foothill Capital Corporation has
preliminarily agreed to provide the company with debtor-in-
possession financing. The company expects to finalize
negotiations regarding Foothill's DIP financing and to
seek Bankruptcy Court approval of the financing as soon as

Sirena Apparel determined that in light of events arising from
its discovery of financial irregularities and the need to restate
its earnings for the first three quarters of the fiscal year
ending June 30, 1999, there was substantial risk that the company
would be unable to secure sufficient financing for the remainder
of calendar year 1999. As a result, the company determined that
seeking a Chapter 11 filing at this time is in its best

Sirena Apparel also announced that Richard Matthews has been
named interim Chief Executive Officer and Howard Hedinger has
been named Chairman of the Board of Directors, effective
immediately. Mr. Matthews is a business consultant who has
extensive corporate restructuring experience. Mr.
Hedinger is a director of the company and is the President and
Chairman of the Board of Directors of American Industries, Inc.,
a substantial stockholder of the company. The company also
announced that Ellison Morgan has resigned from the company's
Board of Directors.

Mr. Matthews said, "While the decision to file for Chapter 11
protection was a difficult one, it represents the best
alternative for the company at this time. The Chapter 11 filing
will provide us with time to perform a comprehensive evaluation
of our strategic alternatives and will allow us to minimize the
impact on our day-to-day operations."

He further noted that, "We are very grateful for the support that
our licensors, customers and suppliers have shown for us during
this difficult period. We are also especially thankful for the
continued loyalty and support of our dedicated staff of

Sirena Apparel is a leading designer, manufacturer and marketer
of branded and private-label swimwear, intimate apparel and
resortwear under well-recognized brands that include Anne Klein,
Liz Claiborne, Elisabeth, Sirena, Rose Marie Reid, Hang Ten, and

SOUTH BEND STAMPING: Production Stops; Future Bleak
The South Bend Tribune, Ind. Reports on July 2, 1999 that it
is increasingly unlikely that anything can be done to save the
jobs of 486 people at South Bend Stamping.  "Yesterday we ceased
production," said Frank "Tiny" Wasielewski on Thursday.

He is chairman of the bargaining unit for Local 5 of the United
Auto Workers, the union that represents hourly workers at the
automotive parts stamping plant.

Production had been scheduled to end today but Wasielewski said
workers wanted to make a good showing to remaining customers and
to any company that might be interested in taking over the

The South Bend plant had produced sheet metal parts parts for a
variety of customers, including General Motors, Ford,
DaimlerChrysler and AM General.  The hulking factory at 601 W.
Broadway is one of South Bend's oldest manufacturing plants.
Portions of the plant date back to the 1920s when it produced
such things as fenders, doors and hoods for Studebaker cars and

Wasielewski said some 100 people remain employed in the plant in
a transition team. "The transition team will be in here until the
end of the month to ship customers' dies, equipment and
inventory," said Wasielewski.

South Bend Stamping is a unit of Tecumseh Metal Products Inc. of
Farmington Hills, Mich. Tecumseh is involved in bankruptcy court
proceedings in Detroit.  On June 15, bankruptcy court awarded a
liquidating company the rights to Tecumseh's assets in South
Bend. As a result of that, production was scheduled to end in the
South Bend plant today.

That liquidator, Maynard Industries Ltd. of Vancouver, B.C., said
it plans to sell South Bend Stamping's assets, either as a going
business or on a piece-meal fashion.

Employees in the plant had been hoping that an Ohio company that
had been interested in taking over South Bend Stamping would be
able to complete a transaction.  However, a spokesman for that
company said Thursday his firm is no longer interested in trying
to salvage South Bend Stamping.

"We made an offer to acquire both of their (Tecumseh) plants as a
going concern. But they ran to the liquidators. Because of that,
people are pulling out their work. They are moving their dies,"
said Kanuga.  

Jon Hunt, director of South Bend's Department of Community and
Economic Development, has been working to save South Bend
Stamping.  Officials of South Bend and the state of Indiana had
taken part in a rescue of South Bend Stamping in 1991 when the
plant's owner, Allied Products Corp. of Chicago, had announced
plans to close it.

Hunt said executives with Maynard Industries, the liquidating
firm, have said they are willing to hold off on selling the
plants assets and negotiate a short-term operating license to
keep the plant in operation while they negotiate a buy-sell
agreement. But that scenario requires a company willing to buy
the South Bend Stamping business.

There had been talk about South Bend Stamping employees forming
an Employee Stock Ownership Plan (ESOP) to buy the business but
that would take months to accomplish, Hunt said.  By that time,
there would be little or nothing left of the South Bend Stamping
business if the liquidation occurs and all of the plants
customers have moved their work elsewhere.  One glimmer of hope
had been that lawyers with the International UAW would be able to
file documents in bankruptcy court to hold off the liquidation.
However, it seems that initiative fell through.

STARTER CORP: Asset Purchase Hearing Set
A hearing is scheduled on July 14, 1999 at 2:00 PM for approval
of the terms and conditions of the Asset Purchase Agreement.

The debtors have determined that they cannot reorganize on a
stand-alone basis due to their inability to obtain or access new
sources of liquidity resulting in a critical shortage of working
and other capital, lack of support from their existing bank
lenders for the continued use of cash and other collateral when
no reorganization is in prospect, employee resignations and
increasing trade pressures from vendors.  The debtors have
determined that the offer by New Starter LLC is the highest and
best offer to date and should be selected as the stalking horse
bidder.  The debtors' assets include their interests in real
property, which consist of the debtors' leasehold interest in a
manufacturing/distribution facility in Cedar Rapids, Iowa, a
leasehold interest in a distribution facility in Memphis,
Tennessee, a fee interest in an office building in New Haven,
Connecticut and leasehold interests in eighteen outlet stores
located in 13 states.  The remaining assets consist of all of the
assets of the businesses, including inventory, accounts
receivable, furniture, fixtures, equipment, other personalty,
trade names, trademarks and license agreements.   The debtors
have had the assistance of Kahn Consulting Inc., the debtors'
financial advisor to market the property, which resulted in about
30 parties who expressed an interest in purchasing all or portion
of the assets.  The purchase price is $35 million, subject to
purchase price adjustments.  A break-up fee of $750,000 is
proposed.  The overbid is the purchase price plus the break-up
fee plus $250,000; additional bids to be in $250,000 increments.

THE COSMETIC CENTER: Order Extends Time to Assume/Reject Leases
The US Bankruptcy Court for the District of Delaware entered an
order extending the time within which the debtor may assume or
reject certain unexpired leases through and including August 15,

THREE D DEPARTMENTS: Committee Requests Chapter 11 Trustee
The Official Committee of Creditors Holding Unsecured Claims
seeks a court order appointing a Chapter 11 Trustee in accordance
with a certain Stipulation entered into by and among, the
Committee, Three D Departments, Inc. and the principal of the
debtor, Donald Abrams.

The debtor failed to obtain the required $3 million capital
infusion and/or to propose a workable plan which provides any
assurance of the minimum unsecured creditor dividend set forth in
the Stipulation.

The debtor's postpetition financing is scheduled to terminate in
August 1999.

UNITED COMPANIES: Creditrust Cancels Planned Acquisition
Creditrust Corp., which buys delinquent consumer loans from
lenders, said Friday that it has cancelled its planned $2.3
million acquisition of United Cos. Financial Corp.'s credit card
unit, according to Reuters. Creditrust, based in Baltimore, will
now apply for a charter to issue its own credit cards rather than
through the acquisition.  Last month Creditrust agreed to buy the
United Credit Card Bank unit after parent United Cos. filed for
bankruptcy protection earlier this year. Creditrust decided to
apply for the charter on its own after the acquisition process
was taking longer than expected. (ABI 06-July-99)

Meetings, Conferences and Seminars
July 10-15, 1999
      105th Annual Convention
         Chateau Mont Tremblant, Mont Tremblant, Quebec
            Contact: 1-312-781-2000 or

July 15-18, 1999
      Northeast Bankruptcy Conference
         Mount Washington Hotel & Resort
         Bretton Woods, New Hampshire
            Contact: 1-703-739-0800

August 4-7, 1999
      Southeast Bankruptcy Workshop
         The Ritz-Carlton, Amelia Island, Florida
            Contact: 1-703-739-0800

August 26-28, 1999
      Real Estate Defaults, Workouts and Reorganizations
         San Francisco, California
            Contact: 1-800-CLE-NEWS

August 29-September 1, 1999
      1999 Convention
         Grove Park Inn, Asheville, North Carolina
            Contact: 1-803-252-5646 or

September 13-15, 1999
      8th Annual States' Taxation & Bankruptcy Conference
         Hotel Santa Fe, Santa Fe, New Mexico
            Contact: 1-505-827-0728

September 16-18, 1999
      Southwest Bankruptcy Conference
         The Hotel Loretto, Santa Fe, New Mexico
            Contact: 1-703-739-0800

September 24-25, 1999
      14th Annual Mid-Atlantic Institute on
      Bankruptcy and Reorganization Practice
         Boar's Head Inn, Charlottesville, Virginia
            Contact: 1-800-979-8253

September 27-28, 1999
      Conference on Corporate Reorganizations
         Regal Knickerbocker Hotel, Chicago, Illinois
            Contact: 1-903-592-5169 or   

October 6-9, 1999
      73rd Annual Meeting
         San Francisco Marriott, San Francisco, California
            Contact: 1-803-957-6225

October 22-26, 1999
      1999 Annual Conference
         The Fairmont--Atop Nob Hill, San Francisco, CA
            Contact: 1-312-822-9700 or

November 29-30, 1999
      Distressed Investing '99
         The Plaza Hotel, New York, New York
            Contact: 1-903-592-5169 or   

December 2-4, 1999
      Winter Leadership Conference
         La Quinta Resort & Club, La Quinta, California
            Contact: 1-703-739-0800


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

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

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.,
Princeton, NJ, and Beard Group, Inc., Washington, DC.  
Debra Brennan, Yvonne L. Metzler and Lexy Mueller, Editors.
Copyright 1999. 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
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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
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