TCR_Public/990713.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, July 13, 1999, Vol. 3, No. 132                                              
                           
                    Headlines

ADVANCED GAMING: Expects To Issue New Shares At Month End
ADVANCED MEDICAL: Assets Sold, Result: Advanced Biosensor, Inc
ADVANCED MEDICAL: Order of Confirmation
ALTA GOLD: Motion Seeks Termination of Mining the Blue Dike
AMGAM ASSOCIATES: Order Approves Disclosure Statement

AMNEX,INC: Needs Time to File Schedules and Statements
AQUAGENIX INC: Announces It has Filed for Chapter 11
BRAMBURY ASSOCIATES: Order Approving Disclosure Statement
BUSTER BROWN: Kleinert's Completes Purchase
CHATCOM INC: Significant Change In Results Of Operation Expected

COMMERCIAL FINANCIAL SERVICES: Seeks To Extend Exclusivity
CONXUS COMMUNICATIONS: Order Authorizes Financing
DAKOTA MINING: Announces Bankruptcy Proceedings
FLORIDA COAST: Stone Container Opposes DIP
GANTOS INC: Beneficial Ownership Of 6.87% Common Stock Noted

GRAND UNION: Company Shows Profit In Fiscal 1999
ICF KAISER: Possibility Of Repurchase & Exchange For Notes
LAMONTS APPAREL: Annual Meeting Postponed, Quorum Lowered
LIVENT (US) INC: Order To Show Cause
LONG JOHN SILVER'S: Approval of Disclosures Statement

MCGINNIS PARTNERS: Seeks Approval Of Stipulation and Agreement
NEW WORLD COFFEE: Trust Owns 10.8% Of Common Stock
NORD RESOURCES: Annual Meeting Slated For August
NU KOTE: Late Filing & Plans Calling For Cancelled Equity
ONEITA INDUSTRIES: Order Approves Bidding Procedures

OPHTHALMIC IMAGING: Rejects Premier's Proposal
PAGE AMERICA: Taps Covey & Assoc. As Special Counsel
PARAGON TRADE: Wants Court OK For Competing Investment Proposals
PEMEX FINANCE: S&P Rates $1B Notes Ser 1999-B `BBB'
PENN TRAFFIC: Company Issuing Six-Year Warrants

PERK DEVELOPMENT: Order Approving Disclosure STATEMENT
RENAISSANCE COSMETICS: Committee Taps Saul, Ewing, Remick & Saul
SGL CARBON: Committee of Unsecured Creditors Seeks To Modify Stay
SIRENA APPAREL: Class Action Commences
STARTER CORP: Seeks To Reject Licensing Agreement

STARTER CORP: Seeks To Reject License Agreement With USTA
THE COSMETIC CENTER: Order Extends Period To Assume/Reject Leases
UNITED COMPANIES FINANCIAL: Objection To Relief From Stay

Meetings, Conferences and Seminars



                    **********

ADVANCED GAMING: Expects To Issue New Shares At Month End
---------------------------------------------------------
Advanced Gaming Technology, Inc. announced that the company's
plan of reorganization was confirmed on June 29, 1999 by the U.
S. Bankruptcy Court in the District of Las Vegas.  The company
anticipates that the effective date of the plan will be July 29,
1999.  Advanced Gaming Technology had filed for reorganization
under Chapter 11 of the U S Bankruptcy Code on August 26, 1998.

The plan authorizes the company to issue 25 million shares of new
common stock.  Approximately 18 million of the new shares will be
issued on the effective date.  A "disputed claims reserve" of
approximately 7 million shares will be established to allow for
disputed claims that might subsequently be approved by final
order of the Court.

Unsecured creditors holding allowed claims will be issued 1.88
shares of new common stock for each $1 of allowed claim.  Based
on current estimates the company expects shareholders of record
on July 29, 1999 to receive 1 share of new common stock in
exchange for each 66 shares currently owned. Approximately 115
million shares of the company's common stock are outstanding at
this time.  The new common stock will continue to trade
under the symbol "AGTI" on the OTC Bulletin Board.


ADVANCED MEDICAL: Assets Sold, Result: Advanced Biosensor, Inc
---------------------------------------------------------------
On March 23, 1999, Advanced Medical Products Inc., after
reporting that for the quarter ended December 31, 1998 had net
losses of $373,173 (of which $130,000 was the result of their
distributor in Europe, Kontron Instruments Ltd. filing for
Administrative Receivership), filed a motion with the
Federal Bankruptcy Court, District of South Carolina, for an
order authorizing the sale of all assets, including equipment,
inventory, and accounts receivable, outside the ordinary course
of business, free and clear of all liens and encumbrances and
other interests.

Biosensor Corporation, owner of Carolina Medical, Inc., who owns
55.3% of the common stock of Advanced Medical Products, Inc.,
proposed to purchase the assets and assume all of the secured
debt, employee and commission liabilities, and all customer
warranty and service liabilities of Advanced Medical Products. In
addition, Biosensor proposed to make a payment of $68,000 toward
administrative expenses and the amount owed by Advanced
Medical to outside unsecured creditors.  If it was the successful
bidder on the assets, Biosensor and its affiliates agreed not to
participate in distribution of payments toward unsecured claims.  
Biosensor's unsecured claims exceed unsecured claims by all non-
affiliated creditors combined.  Biosensor had been funding the
losses incurred by Advanced Medical Products, Inc. and indicated
its inability to continue doing so.

Advanced Medical Products, Inc. continued to operate as
debtor-in-possession, pending sale of the assets. Emergent Asset
Based Lending, L.L.C., Advanced Medical's principle secured
lender whose loan agreement has been in default since December,
agreed to continue to lend against receivables and inventory
based on Biosensor's guarantee of the debt. As of March 22, 1999,
$ 253,446 was borrowed by Advanced Medical under this
agreement.

On May 3, 1999, the United State Bankruptcy Court for the
District of South Carolina entered an order approving the
Disclosure Statement filed on March 23, 1999, fixing June 11,
1999 as the last day for filing ballots accepting
or rejecting the Plan of Reorganization, and setting June 21,
1999 as the date of the hearing on the confirmation of the Plan.

On May 11, 1999, pursuant to a court order entered on May 10,
1999 in the Federal Bankruptcy Court for the District of South
Carolina, Advanced Medical Products, Inc. sold all assets,
including equipment, inventory, and accounts receivable, outside
the ordinary course of business, free and clear of all liens and
encumbrances and other interests.  As outlined above, Biosensor
Corporation then purchased the assets and assumed all of the
secured debt, employee and commission liabilities, and all
customer warranty and service liabilities of Advanced
Medical Products, Inc.  In addition, Biosensor made a payment of
$68,000 for certain priority claims and administrative expenses,
and for distribution to outside unsecured creditors.  Biosensor
and its subsidiaries, as agreed, did not participate in
distribution of payments toward unsecured claims, although their
claims exceeded unsecured claims by all non-affiliated creditors
combined.

The assets and liabilities of Advanced Medical will be
consolidated with the operating assets and liabilities of
Biosensor, and the assets and liabilities of Diagnostic
Monitoring purchased by Biosensor from Cardiac Science Inc. on
December 31, 1998.  This consolidation will result in
Advanced Biosensor, Inc., a new wholly owned subsidiary of
Biosensor, which also agreed to assume Advanced Medical's lease
obligations and to continue to operate the business at the
present Columbia, SC location.

At a hearing held on June 21, 1999 the Plan of Reorganization, as
amended, was confirmed.  The Plan had previously been approved by
all classes of creditors.  On June 28, 1999 the United State
Bankruptcy Court for the District of South Carolina entered an
order confirming the Plan of Reorganization.

Advanced Medical Products Inc. reported net sales of $575,779,
and $1,945,509 for the quarter and nine months ended March 31,
1999, which represents a 6.5% decrease and 18% increase from
sales of  $616,092 and $1,645,896 in the comparable periods of
fiscal 1998.  Net losses for the quarter and nine months ended
March 31, 1999 were $34,262 and $482,997 respectively compared to
losses of $46,435 and $255,273 for the same periods last year.


ADVANCED MEDICAL: Order of Confirmation
---------------------------------------
The US Bankruptcy Court for the District of South Carolina
entered an order on June 29, 1999 confirming the plan of
reorganization, as amended, of Advanced Medical Products, inc.,
debtor.


ALTA GOLD: Motion Seeks Termination of Mining the Blue Dike
-----------------------------------------------------------
Mitchell W. Fanning, Danell L. Fanning, Jeffry T. Jones and
Jeremy M. Jones, dba Babe Mines seek entry of a temporary
restraining order and for a preliminary injunction.  According
tot the plaintiffs, the debtor, ALTA Gold Co. Is mining the Blue
Dike ore body without setting aside any money to pay for the gold
that it is taking.  According to Babe Mines, if the extralateral
rights of Babe  Mines are confirmed in this case, ALTA has no
means by which to repay the amounts owed for past mining.  The
plaintiffs say that by mining the Babe claim, the debtor is
destroying the evidence which Babe Mines will need to establish
its claim to extralateral rights. "The value of Babe Mines'
interest from the Babe claim and extralateral rights appurtenant
thereto should be worth millions."  


AMGAM ASSOCIATES: Order Approves Disclosure Statement
-----------------------------------------------------
By order dated June 28, 1999, the US Bankruptcy Court for the
Southern District of Mississippi, Biloxi Division entered an
order determining that the Second Amended Disclosure statement of
AMGAM Associates and American Gaming & Resorts of Mississippi
contains "adequate information." A hearing on confirmation of the
plan will b be held in Courtroom 705, Hale Boggs Federal
Building, 501 Magazine Street, New Orleans, Louisiana on Friday
July 23, 1999 at 11:00 AM.  

The basic structure of the plan is to adopt the settlement
negotiated by the debtors, the Committees, AGEL, Shamrock and IGT
, to take the revenues generated for the estates from liquidation
of all the assets of the estates and to distribute them to
holders of Allowed Claims under the Plan formula.  AS the claims
in both the AMGAM and AGRM cases now stand, there would be no
funds available for distribution to unsecured creditors unless
challenges are made to large secured claims, and those claims
were either litigated to final judgment or settled.

Secured Claims asserted are as follows:
Shamrock/AGEL - $44 million
Shamrock, assignee of Ship Mortgage, LP - $2.1 million
A.K. Leasing - $750,000
IGT - approx. $2.1 million

Joint plan of liquidation:
The plan shall be funded from available estate assets and from
assets and Moines being made available as a result of a
settlement of all disputes in the AmGam and AGRM cases between
and among various of the plan proponents including all adversary
proceedings and all contested matters.

Treatment of Impaired Classes:
Class 3 - Claims of Holders of Allowed Secured claimants in the
AMGAM estate.

Class 4 - Claims of Allowed Secured Claimants in the AGRM estate
other than Ship Mortgage, LP

Class 3 and Class 4 Claim Holders shall be Paid in cash in full
by the liquidating trustee from the sale proceeds relating to
their particular asset, or if not sold abandoned in full
satisfaction of the claim.

Class 5A: Allowed Claim of $1.4 Million for IGT.  $1.7 Million is
a Class 7 claim and is an allowed unsecured claim.

Class 5B: Allowed Claims of AGEL and Shamrock
The class 5B claim shall be paid in accordance with the plan and
is in full and complete satisfaction of the AGEL and Shamrock
Claims and ownership interest.

Class 6A and 6B: Convenience Claims - Holders shall receive cash
in the amount of the allowed claim up to $250.

Class 7 - Allowed Unsecured Claimants of AMGAM - Holders shall
receive a Pro Rata share o f Distribution Fund A.

Class 8 - Allowed Unsecured Claimants of AGRM Pro Rata Share of
Distribution Fund B.

Class 9 - Allowed Claims of all Tort Claimants in both cases.  
Allowed Tort Claimants in both the AMGAM and AGRM estates shall
be paid nothing pursuant tot he plan.

Class 10 - Allowed claims of Eugene McCarlie and Douglas
McCarlie. Pro rata distribution after the holders of allowed
claims in classes 1-8 are paid in full.

The Liquidating Trustee shall distribute Initial Barge Proceeds
and Barge Proceeds pursuant to a schedule delineated in the plan.


AMNEX,INC: Needs Time to File Schedules and Statements
------------------------------------------------------
The debtors, AMNEX, Inc. and American Network Exchange, Inc.
D/b/a AMNEX, a/k/a AMNEX Acquisition Corp., seek an order
extending the time to file their Schedules and Statements through
and including August 30, 1999.

American Network Exchange Inc. has shut down its operations and
is conducting an orderly liquidation of its assets.  The debtor
is now operating with a reduced staff of nine people who are
conducting the wind-down.  In light of the debtors' limited
personnel and resources, the debtors have not been able to devote
the extensive time necessary to prepare their schedules and
statement.  The debtors have over 1,000 creditors.  Consequently
the debtors need additional time to file their schedules and
statements and request that the court grant the extension through
August 30, 1999.


AQUAGENIX INC: Announces It has Filed for Chapter 11
----------------------------------------------------
Aquagenix, Inc. (OTC BB:AQUX) announced Monday that it has filed
for protection and reorganization under Chapter 11 of the
Federal Bankruptcy Code.

The company's California operation has had significant losses and
continues to be a cash drain. In 1998 the company reported
revenues of $ 16 million with a loss of $ 13 million. Onetime
charges accounted for $ 9 million of that loss and led to a $ 4.1
million shareholders deficiency as of December 31, 1998.

Results have improved for the first quarter of 1999 and the
company plans to continue its lake management operations in
Florida. The company reported an operating profit of $ 52,000
compared to an operating loss of $4.7 million in the same period
of 1998.

"Even with this turnaround in our core aquatic business, it's
necessary that we restructure our debt. This reorganization will
free up the resources needed to service our customers in
Florida," said Aquagenix President Russell Thompson.

Aquagenix, Inc. is a leading aquatic vegetation management
company providing services to government, commercial and
industrial sites, golf courses and private customers.


BRAMBURY ASSOCIATES: Order Approving Disclosure Statement
---------------------------------------------------------
On June 28, 1999, the US Bankruptcy court for the Western
District of New York entered an order approving the disclosure
statement of Perk Development Corporation and Brambury
Associates, debtors.  The hearing to consider confirmation of the
plan shall be held on July 29, 1999 at 11:00 AM a t the US
Bankruptcy, Room 1550, 100 State Street, Rochester, New York
14614. The plan treats the debtors as consolidated entities.

The plan is one of orderly liquidation as set forth in the
Purchase Order and in the plan.  On or about February 28, 1999,
shortly after the closing with the purchaser, the debtors ceased
all business operations.  Following the sale, the debtors
received or held net sale proceeds of $2,932,726.  The sum of
$131,000 was paid to A&L Holding in satisfaction of its secured
claim.  The sum of $500,000 was escrowed for the Committee.  The
debtors also received the sum of $61,012 in respect of post-
closing real estate taxes.  The debtors estimate that as of June
30, 1999 the available cash remaining after the payment of
accrued and unpaid allowed administrative claims will be
approximately $2.8 million.  The IRS has filed a proof of claim
in Perk's case which asserts a $1.5 million secured claim, a
$631,868 priority claim and a $82,475 unsecured claim.  The NYS
Dept of Taxation and Finance has filed a proof of claim in both
Perk's and Brambury's cases which asserts a $1.35 million secured
claim and a priority claim of $2.24 million.  The NYS Depth Of
Labor, Unemployment Insurance Division has filed a proof of claim
in Perk's case which asserts a priority claim of $919,113. For
unemployment insurance.  FFCA was paid $446,273 and the Partial
Cure Assignment of $500,000 was placed into an escrow account in
the name of the Committee.  This is pursuant to a Compromise
Order providing that the Partial Cure assignment shall be
exclusively available of holders of non-priority unsecured claims
only if all Administrative Claims are paid in full and the
Bankruptcy Court, after a notice and a hearing approves such
allocation.

Treatment of Classes Under the Plan:

Class 1 - Priority Claims - Unimpaired.

Class 2 - Allowed Reclamation Claims - Unimpaired.

Class 3 - Allowed Secured Claims. Impaired.  The IRS shall be
deemed to have an allowed secured claim of $1.5 million and the
NYSDTF shall be deemed to have an allowed secured claim of $1.356
million.  Holders shall be paid pro rata as provided in the plan.

Class 4 - Allowed Tax Claims. The IRS shall be deemed to have an
allowed Class 4 claim of $631,868.  The NYSDTF shall be deemed to
have a Class 4 claim of $2.24 million The NYSDL-UID shall be
deemed to have a Class 4 claim of $905,000.  Holders shall be
paid, pro rata, on account of such claims 50% of the net
recoveries of the assigned causes of action as provided in the
plan.

Class 5 - General Unsecured Claims. Impaired.  Holders will
receive, in cash an amount equal to its pro rata distribution of
the sum of $500,000.  Holders will also share Pro rata in 50% of
the net Recoveries of the assigned causes of action.

Class 6 - Equity Interests. Holders shall not receive or retain
any property or money under the plan.


BUSTER BROWN: Kleinert's Completes Purchase
-------------------------------------------
Kleinert's Inc. has completed its previously announced purchase
of Buster Brown, bringing with it yet another blow to the once
formidable presence of the textile company in Chattanooga.

At one time the employer of 600 people here, Buster Brown Apparel
has seen its work force reduced drastically over the years. The
new owners, based out of Plymouth Meeting, Pa., have added to the
cut, eliminating between 30 and 40 jobs here.

Buster Brown Apparel Inc., meanwhile, will close its remaining
four facilities in southwestern Virginia and a plant in Honduras
in Central America. Those closings will idle as many as 1,500
workers over the next three months.

Kleinert's, a 130-year-old company which has emerged as one of
the nation's leading producers of children's wear, has agreed to
retain 40 of the nearly 100 employees who remained with the local
operations.

Those employees in the design and merchandising group will
relocate to a new office facility leased in the Osborne Office
Center at the Osborne Office Park adjacent to Eastgate Town
Center. Eleven other Buster Brown employees will remain in sales
offices in New York and Dallas.

Buster Brown's East Chattanooga plant, which was originally built
in 1904 and was expanded several times since then, was not part
of Kleinert's purchase and has been put up for sale by the
previous owners. The other plants also were not a part of the
acquisition.

The vacant, aging local plant includes 367,382 square feet and is
valued at $1.3 million, according to the Hamilton County Assessor
of Property's Office.  The crux of Kleinert's purchase is the
Buster Brown brand name, trademarks and the few employees it is
adding to its own work force of nearly 1,700.

"I have spent years looking at various business opportunities to
combine with our organization and I can tell you that nothing
comes close to the acquisition of Buster Brown Apparel," said
Jack Brier, Kleinert's chairman and chief executive officer.

Earlier this year, Buster Brown shut down a local 100-employee
fabric plant, which ended almost a century of manufacturing in
Chattanooga. It then asked remaining employees to pursue jobs
elsewhere, and finally started alternating workweek schedules in
which employees would work a week and then take a week off. Since
then, some of them left for other jobs.

Buster Brown had been entered and emerged from bankruptcy twice
in its history, the final time coming two years ago. At its peak,
annual sales of the company approached $175 million, but had
dropped to about $76 million recently.

"The past two years have been difficult, but the brand has
survived like a champion," said Mr. Brier. "One of the most
exciting aspects of the acquisition is the incredible vitality of
the Buster Brown Apparel brand.

According to Mr. Brier, Kleinert's plans are to "continue to
improve the value of the Buster Brown line. The brand will also
be more fashion forward than it has previously to keep pace with
the growing sophistication of today's kids.

Kleinert's has production facilities in Gastonia, N.C. and Elba,
Ala. Along with plants in Honduras, Mexico and Asia.
Distribution, general and administrative functions will be
performed in the existing 400,000-square-foot facility in Elba,
Ala.

The majority of the layoffs in Chattanooga are to those in
administrative roles. Steve Clark, the president and CEO of
Buster Brown, is among those not being retained by Kleinert's as
is Bruce Rice, the former CEO of the company, who had remained on
in an administrative capacity.


CHATCOM INC: Significant Change In Results Of Operation Expected
----------------------------------------------------------------
ChatCom, Inc. advised the SEC that it has been under extreme
financial stress and has been seeking additional financing. It
has further stated that due to the company's financial
constraints it has been unable to hire a Chief Financial Officer
to replace its prior Chief Financial Officer (who resigned during
the prior fiscal year) or to budget sufficient funds to
have its independent certified public accountants assist the
company in the preparation of its audited financial statements
for the year ended March 31, 1999.  For this reason its reporting
will be delayed.

The company anticipates a significant change in results of
operations from the fiscal year ended March 31, 1998 will be
reflected in the earnings statement to be included in its annual
report. ChatCom indicates that revenues for fiscal 1999 will
decline to approximately $3,007,000 from approximately $9,103,000
for fiscal 1998 due in part to the company's reduction in the
scope of its operations, including sales and marketing
activities. The net loss for fiscal 1999 will decline to
approximately $2,855,000 from approximately $7,773,000 in fiscal
1998 due in part to the company's reduced sales of products as
well as the overall reduction in the scope of its operations.


COMMERCIAL FINANCIAL SERVICES: Seeks To Extend Exclusivity
----------------------------------------------------------
The debtors, Commercial Financial Services, Inc. and CF/SPC NGU,
Inc. request that the court enter an order extending the periods
within which each of the debtors has the exclusive right to file
a plan of reorganization and solicit acceptances of a plan.  The
debtors seek an extension extending the exclusive periods for
filing a plan of reorganization through and including September
30, 1999.  The debtors request that the court enter an order
extending the debtors' exclusive period to solicit acceptances of
a plan of reorganization through and including December 1, 1999.

The debtors state that the daily exigencies of the debtors'
operations have temporarily drawn the attention of the debtors
away from plan formulation.  The debtors also claim that they are
engaged in consensus-building negotiations that could be
undermined by the expiration of exclusivity.


CONXUS COMMUNICATIONS: Order Authorizes Financing
-------------------------------------------------
The US Bankruptcy Court for the District of Delaware entered an
order on July 1, 1999 authorizing the debtors, Conxus
Communications, Inc., and its affiliates to obtain post -petition
financing and for the Guarantors to guarantee the payment of such
obligations up to an aggregate amount not to exceed $17, 000,000
from Motorola, Inc. By and through its Messaging Systems Products
Group.


DAKOTA MINING: Announces Bankruptcy Proceedings
-----------------------------------------------
Dakota Mining Corporation ("Dakota") announced that its Board of
Directors authorized the filing of assignments in Bankruptcy
pursuant to the Bankruptcy and Insolvency Act (Canada). A Trustee
in Bankruptcy will commence the bankruptcy proceedings on July 9,
1999. In addition, Dakota Mining Corporation announced the
resignation of its directors.

Prior to this action and throughout the past year, the Company
has attempted to work out arrangements with its principal secured
creditors and to solicit new financing to facilitate the startup
of its mining operations. Also, attempts have been made at asset
sales and merger. The Company's efforts were unsuccessful.

The debt is secured by charges over the assets at the Company's
mines held in subsidiaries in South Dakota, Alaska and Idaho. The
amount of such secured debt in total amounts to approximately US
$20 million The Company does not expect that its subsidiaries
will continue operating the properties and reclamation of the
various mine sites is likely.


FLORIDA COAST: Stone Container Opposes DIP
------------------------------------------
Stone Container Corporation states that it is generally not at
odds with the Ad Hoc Committee of Noteholders.  Stone states that
it is clear that the noteholders' proposed financing is little
more than a thinly veiled attempt to terminate exclusivity.  It
is Stone's understanding that the debtors, Florida Coast Paper
Holding Co., LLC and its affiliates will oppose the Noteholders'
financing motion and Stone concurs in the opposition.

Stone objects to the financing motion because the Noteholders are
seeking to prime the junior liens and security interests granted
to Stone.  Further, the size of the Noteholders' proposed
financing facility must take into account that the debtors will
have to repay the $800,000, already loaned by Stone if the
Noteholders' Financing Motion is granted.    The Stone DIP order
s provide that the liens, security interests and priority claims
granted Stone shall not be modified, altered or impaired by any
other financing.  Stone is granted a superpriority administrative
expense claim over any and all claims and costs of
administration.  Further, the Loan and Security Agreement and the
Second Loan and Security agreement between Stone and the debtors
provide that any "impairment" of the Stone DIP orders is an event
of default and it is an event of default for an administrative
priority claim to be granted which is senior to or on parity with
the superpriority administrative claim granted to Stone.  If the
notheolders' financing  is approved, the noteholders receive a
priming lien and/or a superpriority administrative expense claim,
a default will  be triggered requiring immediate repayment of
Stone.  Stone requests that the court deny the motion of the
Noteholders.


GANTOS INC: Beneficial Ownership Of 6.87% Common Stock Noted
------------------------------------------------------------
Beneficial ownership of 5.44%, or 446,210 shares of common stock
of Gantos Inc., is owned by Elliott Associates, L.P., a Delaware
limited partnership.  Elliott's total of 446,210 shares consists
of 67,085 shares of common stock held outright and warrants to
purchase an additional 379,125 shares of common stock.

Westgate International, L.P., a Cayman Islands limited
partnership, owns 112,000 shares of the company stock, or 1.43%.
Martley International, Inc., a Delaware corporation shares voting
and dispositive power with Westgate International over the
shares, which aggregate a total of 112,000 shares of
common stock, the 1.43% cited.

Persons filing the recent statement of ownership are Elliott
Associates, L.P., a Delaware limited  partnership, and its
wholly-owned subsidiaries, Westgate International,  L.P., a
Cayman Islands limited partnership, and  Martley International,
Inc., a Delaware corporation.  Paul E. Singer and Braxton  
Associates, L.P., a Delaware limited partnership,  which is
controlled by Singer, are the general partners of Elliott.  
Hambledon, Inc., a Cayman Islands corporation, is the sole
general  partner  of Westgate.  Martley is the investment  
manager  for Westgate.  Martley expressly disclaims  equitable  
ownership of and pecuniary interest in any common stock.


GRAND UNION: Company Shows Profit In Fiscal 1999
------------------------------------------------
The Grand Union Company, a Delaware corporation, is engaged in
the retail food business. Grand Union operated 217 stores in six
northeastern states averaging approximately 27,500 gross square
feet per store as of April 3, 1999. The company's common stock
has been listed on the Nasdaq National Market since October 1,
1998.

The successor company, post reorganization, reports net profit of
$114.4 on revenues of $2,286.3 for fiscal year 1999.  In the same
fiscal period last year the company reported net losses of $304.0
on revenues of $2,266.8.  


ICF KAISER: Possibility Of Repurchase & Exchange For Notes
----------------------------------------------------------
On June 30, 1999, ICF Kaiser International, Inc. announced it had
finalized the sale of its Consulting Group.  The company sold 90
percent of the Consulting Group to the Group's management and CM
Equity Partners, L.P. for $64 million in cash plus $6.6 million
of interest-bearing notes.  The parent company, ICF Kaiser
International, Inc., retains the 10 percent balance of ownership
in the new and independent consulting company, ICF Consulting
Group, Inc.  In the near future, ICF Kaiser plans to announce a
name and ticker-symbol change that will reflect the 85-year
history of Kaiser Engineers.

"The sale of the Consulting Group allows us to focus on providing
engineering and project, construction, and program management
services throughout the world in the core areas of transit and
transportation; alumina/aluminum and mining/minerals; facilities
engineering and management, including wastewater treatment; iron
and steel; and microelectronics and clean technology," said James
J. Maiwurm, Chairman and CEO of ICF Kaiser.  "We have decades of
experience and a reputation for excellence in each of these
areas."

The company continues to build its project backlog.  Recently
announced contract wins include: a $19 million contract as part
of a joint venture to provide construction management services
for the construction of the $1 billion Oporto light rail transit
project in Portugal; a contract to provide construction
management and site services for the final, $60 million phase of
the MOS 12 expansion project at a Motorola semiconductor facility
in Arizona; an extension of the company's General Engineering
Consultant contract, which is estimated to have a value in the
range of $20 to $25 million per year, for the Metropolitan
Atlanta Regional Transit Authority as part of a joint venture; a
$4.5-million contract to provide engineering and construction
management services for the construction of a 1.2 million tonne
per year compact flat production steel plant in Egypt; and a 12-
month extension - worth up to $7.5 million - to the company's
contract to serve as the Florida Department of Transportation's
Technical Services Consultant for the design phase of the
Miami Intermodal Center, which will serve as a hub for various
modes of transportation at the Miami airport.

In addition to its engineering and construction business, ICF
Kaiser International Inc. continues to own a 50% ownership
interest in Kaiser-Hill Company, LLC, the entity that serves as
the integrating management contractor at the U.S. Department of
Energy's Rocky Flats Technology Site near Denver, Colorado.

ICF Kaiser has taken steps to significantly reduce its cost
structure. These reductions are in response to the company's
recent divestitures of its EFM and Consulting Groups and the need
to align its overhead structure with its new revenue base.

"We are becoming a more disciplined organization with a clear
corporate mission and a dramatically streamlined overhead
structure," said Maiwurm.

"As previously disclosed, management believes it is necessary for
the company to realign its capital structure in order to become
more competitive," Maiwurm continued.  "With the sale of the
Consulting Group completed, we can focus on how to best use the
available cash proceeds in transactions that reduce the company's
debt load.  We are actively exploring the possibility of a
repurchase for cash and an exchange of a combination of new debt
and equity for some or all of the company's outstanding notes."

Pending the results of preliminary discussions with
representatives of holders of the company's Senior Subordinated
Notes due 2003, the company does not plan to make the interest
payment due on June 30, 1999 under the terms of its Senior Notes
due 2003 and Senior Subordinated Notes due 2003.  The failure to
pay such interest does not constitute a default under the
Indentures governing the notes until the failure to pay continues
for 30 days.  If the company proceeds with an exchange of equity
for some of its outstanding notes, the issuance of additional
shares of capital stock will likely be subject to approval of the
company's shareholders.  That issue and other matters may be on
the agenda for the company's 1999 annual meeting of shareholders,
planned to be held later this summer.


LAMONTS APPAREL: Annual Meeting Postponed, Quorum Lowered
---------------------------------------------------------
Lamonts Apparel, Inc., a Delaware corporation, recently gave
notice that its annual meeting of stockholders has been postponed
from July 9, 1999. The 1999 annual meeting will now be held on
July 16, 1999 at 4:00 P.M. local time at the offices of the
company, 12413 Willows Road N.E., Kirkland, Washington.

The record date for the 1999 annual meeting remains the close of
business on May 17, 1999 and the purposes for which the 1999
annual meeting is being held remain the same as those listed in
the company's notice of annual meeting dated June 4, 1999, namely
the election of directors for the coming year, an amendment to
the company's Certificate of Incorporation and certain amendments
to the company's Stock Option Plan.

The Board of Directors of Lamonts Apparel postponed the 1999
annual meeting in order to enhance the likelihood that a quorum
will be present.  The 1999 Proxy Statement indicated that a
quorum for the conduct of business at the 1999 annual meeting was
a majority of the outstanding shares of the company's common
stock entitled to vote at the 1999 annual meeting,
represented either in person or by proxy. The Board believes that
this level of representation may not be attained.

In order to maximize the ability of stockholders of the company
to conduct business at the 1999 annual meeting in accordance with
the meeting notice, the Board has also amended the company's
bylaws so that, solely for the purposes of the 1999 annual
meeting, a quorum will be the minimum permitted by Delaware law,
namely one-third of the outstanding shares of the company's
common stock entitled to vote at the 1999 annual meeting.


LIVENT (US) INC: Order To Show Cause
------------------------------------
Upon the motion of the debtors for an order authorizing and
approving an agreement by and between Pola Jones (Fosse) Ltd. And
Livent International Inc. To grant the rights to produce the
musical Fosse in the UK, the court finds that an order to show
cause scheduling a hearing to consider the motion is necessary.

The debtors have entered into an agreement with Pola Jones
(Fosse) Ltd. Which grants PJF the rights to stage two productions
of the musical.  One such production is to be based in the West
End of London and the other is a touring production which will
stage the musical in various locations throughout the UK,
including Great Britain and the Irish Republic.

The debtors seek to proceed by order to show cause because, under
the agreement, PJF has a limited time in which to build an
produce the first paid performance of the musical.  In order to
produce the musical properly and in accordance with the
agreement, PJF must begin production as soon as possible.


LONG JOHN SILVER'S: Approval of Disclosures Statement
----------------------------------------------------
The US Bankruptcy Court for the District of Delaware entered an
order on June 29, 1999 approving the Disclosure Statement of Long
John Silver's Restaurants, Inc., et al., debtors.  On August 18,
1999 a hearing will commence before the Honorable Mary F.
Walrath, US Bankruptcy Judge, at the US Bankruptcy Court for the
District of Delaware, US Courthouse, 824 Market Street, Marine
Midland Plaza, 6th Floor, Wilmington, Delaware 19801 to consider
confirmation of the plan.


MCGINNIS PARTNERS: Seeks Approval Of Stipulation and Agreement
--------------------------------------------------------------
The debtors, McGinnis Partners Focus Fund, LP seek
court approval of the stipulation and agreement between the
Creditors Committee, the Investors Committee and the debtors.

The Stipulation and Agreement provides for certain limitations on
the debtors' duties and obligations and the assumption by the
Investors Committee of the duty to investigate certain claims and
causes of action.  The Investors Committee has the exclusive
right to conduct the investigation of litigation claims., and the
Investors Committee may be given the authority to prosecute
Litigation Claims and to hire professionals to act as counsel in
these cases.  The Committees intend to file the plan providing
for the elements of this Stipulation and Agreement.  The debtors
will, upon written request of the committees, withdraw the joint
plan of reorganization of Focus and global and the plan of
reorganization of Russia (the "debtors plans"),a long with the
accompanying disclosure statements.


NEW WORLD COFFEE: Trust Owns 10.8% Of Common Stock
--------------------------------------------------
Donald F. Conway, as Trustee for the Manhattan Bagel Unsecured
Creditors Trust has reported that 2,173,913 shares, or 10.8%, of
the common stock of New World Coffee Manhattan Bagel Inc. are
owned by the Trust.  The Trust is the direct beneficial  owner of
the 2,173,913 shares of common stock.  The Trustee is the
indirect  beneficial owner of the same 2,173,913  shares of
common stock by virtue of his position as trustee  with the right
to vote and dispose of the shares.


NORD RESOURCES: Annual Meeting Slated For August
------------------------------------------------
August is the target month for the 1999 annual meeting of
shareholders of Nord Resources Corporation, in New York.  
Shareholders will be considering and voting upon the election of
seven directors for a one year term; approval of the sale of the
corporation's 50% ownership interest in the Sierra Rutile
titanium dioxide mine in Sierra Leone to an affiliate of MIL
S.A.R.L.; and to transact such other business as may come
before the meeting.  The close of business on July 8, 1999 was  
fixed as the record date for the determination of shareholders
entitled to notice and to vote at the meeting.  Proxy
solicitations with an August date specific will be directed to
shareholders by the company.


NU KOTE: Late Filing & Plans Calling For Cancelled Equity
----------------------------------------------------------------
Nu Kote Holding Inc, and six wholly owned United States operating
subsidiaries filed voluntary petitions under Chapter 11 of the
Bankruptcy Code on November 6, 1998.  All of the bankruptcy
proceedings relating to the company and its subsidiaries were
filed in the United States Bankruptcy Court for the Middle
District of Tennessee, Nashville Division.  The company has filed
a no action letter request with the SEC asking for certain
reporting relief from the reports the company is or would be
required to file with the Commission.  The company is requesting
to be allowed to file the necessary forms for the year ended
March 31, 1999 accompanied by unaudited financial statements.

Because the Bankruptcy Court unexpectedly disqualified
PricewaterhouseCoopers LLP, Nu Kote's auditor for many years, the
company believes that the preparation and filing of its forms
accompanied by audited financial statements would constitute an
unreasonable effort and expense for it in its present
circumstances.  It appears, according to information relayed to
the company from the Commission, that it will be at least another
month before the Commission completes its review of the company's
letter.

Nu Kote's bankruptcy proceedings relate to all of its assets and
operations in the United States, but do not include the company's
international subsidiaries.  The company and its secured lenders
have each filed their plans of reorganization.  Pursuant to both
plans, the existing equity of Nu Kote will be canceled.  As a
result, the current stockholders will have no interest in the
company upon the completion of the reorganization.


ONEITA INDUSTRIES: Order Approves Bidding Procedures
----------------------------------------------------
The US Bankruptcy Court for the District of Delaware entered an
order on June 29, 1999 approving the bidding procedures to govern
the submissions of higher and better offers to purchase in bulk
at a n action sale all of the debtor's remaining furniture,
fixtures, equipment, machinery, forklifts and trucks located at
its leased offices and its manufacturing and distribution
facilities which is not specifically excluded from the sale and
approving a break up fee to be paid to Consolidated Auctioneers &
Liquidators, Inc. Under certain conditions.  A hearing to
consider approval of the sale shall take place on July 19, 1999
at 2:00 PM.

The auction will take place at the offices of Moses & Singer LLP
at 10:00 AM on July 16, 1999.  The first permissible bid must
exceed the purchase price set forth in the Bulk Sale Agreement by
a minimum of 5%.  Each subsequent bid must be in excess of the
then highest bid by at least one percent of the then highest bid
or by at least $50,000 whichever is less.


OPHTHALMIC IMAGING: Rejects Premier's Proposal
----------------------------------------------
Ophthalmic Imaging Systems recently announced that the proposal
it had received from Premier Laser Systems, Inc. to acquire the
balance of approximately 49% of its shares not currently owned by
Premier had been rejected by a unanimous vote of its Board of
Directors.

The Premier non-binding proposal offered $0.85 worth of Premier
Class A common stock for each outstanding share of Ophthalmic
Imaging Systems; subject to a number of conditions, including
that Premier's share value would be at least $2.00 per share for
the measurement period.

Steven R. Verdooner, President of Ophthalmic Imaging Systems,
stated, "We have been working closely with Premier for some time,
and we see a number of potential synergies and other benefits
that might come from a combination of the companies. While our
Board of Directors concluded that this offer was not adequate, we
plan to continue discussions with Premier and are in the process
of engaging a financial advisor to assist us in any further
negotiations."

Ophthalmic Imaging Systems is the leading provider of ophthalmic
digital imaging systems. The company designs, develops,
manufactures and markets digital imaging and image enhancement
systems and analysis software. With over a decade in the
ophthalmic imaging business, Ophthalmic Imaging
Systems has consistently been the first to introduce new
technology and features. The company offers customer support
through a worldwide network of service technicians.

Premier Laser Systems, Inc, with 2,131,758 shares of Ophthalmic
Imaging's common stock is beneficial owner of 51.3% of the
outstanding shares of common stock based on 4,155,428 shares of
common stock reported as of April 14.1999.


PAGE AMERICA: Taps Covey & Assoc. As Special Counsel
----------------------------------------------------
The debtors, Page America Group, Inc., et al. Seek entry of an
order authorizing the debtors to retain Covey & Associates, PC as
special counsel to represent the debtor in connection with the
Papa v. Nynex Law Suit.

For the most part, the debtor states that the services of the
firm will be billed at an hourly rate of $275. per hour.  


PARAGON TRADE: Wants Court OK For Competing Investment Proposals
----------------------------------------------------------------
On June 11, 1999 Paragon Trade filed a motion with the bankruptcy  
court seeking approval of bidding procedures, an expense
reimbursement, and a termination fee relating to a proposed
investment by Wellspring Capital Management LLC, to acquire the
company as part of reorganization.  The bidding  procedures  
provide  for  the consideration of competing investment  
proposals from other interested parties.  The company intends to  
simultaneously  prepare  and file a stand-alone  plan of  
reorganization  so that the plan  process and the company's  
emergence  from  Chapter 11 will not be delayed in the event
that  the  Wellspring  Proposal  is not  consummated,  or a  
higher or otherwise better alternative transaction is not
approved or accepted.

On June 22, 1999, Paragon Trade, in conjunction  with the New
York Stock Exchange, announced that trading in the common stock
of the company would be  suspended  prior to opening  of  trading  
on July 8, 1999,  or such earlier date as the company commences
trading in another  securities marketplace, information is
received that the company does not meet the listing requirements
of the other securities  marketplace;  or the company makes a
material  adverse news  announcement.  The company intends to
apply to list its shares by the  National  Quotation  Bureau and
on the OTC Bulletin Board.  Paragon's common stock was valued at
$2.125 per share at December 31,  1998, however,  the  company's  
stock closed at $1.8125 per share on June 11, 1999.


PEMEX FINANCE: S&P Rates $1B Notes Ser 1999-B `BBB'
--------------------------------------------------
Standard & Poor's--July 9, 1999--Standard & Poor's assigned its
preliminary triple-`B' rating to Pemex Finance Ltd.'s $1 billion
note series 1999-B. In addition, Standard & Poor's affirmed its
triple-`B' rating on the uninsured tranches of the company's 1998
and 1999-A series notes. The preliminary rating is based on
information as of July 8, 1999. Subsequent information may
result in the assignment of a final rating that differs from the
preliminary rating. This is the third issuance in a $5 billion
program that was rated in December 1998. With the proposed
transaction, total program issuance to date will be $3.6 billion.
It is expected that one of the three tranches will be the
beneficiary of a financial guarantee insurance policy issued by
MBIA and will therefore be rated triple-`A'.  The issued notes
will be unsecured senior obligations of Pemex Finance
Ltd., with interest and principal payable quarterly.

The triple-`B' rating on the $5 billion program is based on:
--   The ability of Petroleos Mexicanos (Pemex) to produce, and
PMI Internacional S.A. de C.V. to export, an amount of Maya crude
oil, or if unavailable, other crude oil, to generate sufficient
receivables to pay debt service on up to $5.0 billion of debt
over the next 30 years.

--   A sufficient level of overcollateralization, which, on
average, is expected to be 3.8 times (x) debt service, given a
stress case of a $5 billion note amortizing over 15 years, and 3x
debt service, given a stress case of a $5 billion note amortizing
over 10 years.

--   The availability of a liquidity facility to cover debt
service for the next scheduled payment date.

--   The structural enhancements in place to mitigate sovereign
risk, including the assignment of receivables generated from the
sale of Maya crude oil to Pemex Finance. In addition, the heavy
and sour quality of Maya crude oil makes redirection to
alternative (non-designated) customers difficult, as most of the
refining capacity for this type of crude is located in the United
States, Canada, and Aruba. Before closing, the designated
customers signed agreements acknowledging the assignment and
agreeing to make any future payments directly to an offshore
collection account.

--   The expectation that, in the event of heightened sovereign
financial stress, including the possible but unlikely event of
default, the government would be less likely to interfere with
the service of this obligation than with other Pemex obligations
not benefiting from a supporting structure. This assessment
reflects Pemex's timely service of its debt secured by future oil
receivable sales in the early 1980s, even as other Pemex
obligations were included in the rescheduling of public sector
debt. Indeed, in a number of past instances of financial stress,
the Mexican government has utilized oil exports or oil export
revenues as collateral for sizable emergency external credits. As
a result, Standard & Poor's believes that, in a possible future
situation of financial stress, the government would be likely to
protect the value of this financing option by according it de
facto seniority. The implicit priority accorded to this debt is
also supported by the importance of oil industry revenues to the
government's fiscal performance.

The triple-`B' rating is constrained by:
--   The size of the program. The debt service coverage, given a
fully utilized program, results in a relatively high percentage
of U.S. dollars remaining offshore compared with similarly
structured transactions. This could increase the government's
incentive to interfere with debt service payments during a period
of financial stress;

--   The ownership structure of Pemex. Pemex is a decentralized
public entity wholly owned by Mexico (double-`B' foreign currency
rating). Pemex has little autonomy, and is treated as an integral
part of the public sector, from both a financial and operational
perspective.

--   Pemex's inconsistent track record in the area of exploration
and reserve replacement. At current reserve and production
levels, Maya crude oil, the product least likely to be
redirected, could be depleted in less than 30 years. Pemex is
obligated to sell to Pemex Finance receivables generated from the
sale of other grades of crude oil if exports of Maya crude oil
fall to less than 450,000 barrels per day. However, sales of
these other grades of crude oil may more easily be redirected to
customers other than designated customers.

--   The limited ability and willingness of designated customers
to make payments directly into the offshore collection account.
Although about 10% of Pemex's customers are either rated below
investment grade or are unrated, the risk of nonpayment by these
customers is mitigated by Pemex's conservative credit policies
and the excellent payment history of its designated customer base
over the past five years.


PENN TRAFFIC: Company Issuing Six-Year Warrants
-----------------------------------------------
In connection with the effectiveness of The Joint Plan of
Reorganization of The Penn Traffic Company and certain of its
subsidiaries, the company will be issuing six-year warrants to
purchase 1,000,000 shares of common stock, par value $.01 per
share.

The Warrants will be exercisable immediately upon their date of
issuance, and will have an initial exercise price of $18.30 per
share, subject to certain adjustments and anti-dilution
protections briefly discussed below and more fully set forth in
the form of the Warrant Agreement, dated as of June 29, 1999,
between the company and Harris Trust and Savings Bank upon
effectiveness of the Plan. (See below).

The Warrants may be exercised in whole or in part, at any time
and from time to time until the sixth anniversary of their date
of issuance. The Warrants will cease to be exercisable, terminate
and become void on the expiration date, and all rights under the
Warrants and the Warrant Agreement will cease at that time.

Under the Warrant Agreement, the exercise price, the number of
shares covered by each Warrant and the number of Warrants
outstanding are subject to adjustment from time to time as a
result of the company, among other things, declaring a dividend
on shares of common stock payable in shares of any class of
capital stock of the company, stock splits, issuing
any shares of capital stock in a reclassification of shares of
the common stock, fixing a record date for the issuance of
rights, options, or warrants to all holders of common stock at an
exercise price that is less than the then current market price
for the common stock, fixing a record date for the making of a
dividend or distribution to all holders of common stock of any
evidences of indebtedness or assets or subscription rights or
warrants, or consummating a tender offer for or otherwise
repurchasing or redeeming common stock.  The warrant agent for
the Warrants is Harris Trust and Savings Bank.

The foregoing is only a summary of significant terms and
provisions of the Warrants and is qualified in its entirety by
reference to the Warrant Agreement, a full-text copy of which is
available at http://www.sec.gov/cgi-bin/srch-edgar?0000950142-99-
000512 via the Internet.


PERK DEVELOPMENT: Order Approving Disclosure STATEMENT
------------------------------------------------------
On June 28, 1999, the US Bankruptcy court for the Western
District of New York entered an order approving the disclosure
statement of Perk Development Corporation and Brambury
Associates, debtors.  The hearing to consider confirmation of the
plan shall be held on July 29, 1999 at 11:00 AM a t the US
Bankruptcy , Room 1550, 100 State Street, Rochester, New York
14614. The plan treats the debtors as consolidated entities.

The plan is one of orderly liquidation as set forth in the
Purchase Order and in the plan.  On or about February 28, 1999,
shortly after the closing with the purchaser, the debtors ceased
all business operations.  Following the sale, the debtors
received or held net sale proceeds of $2,932,726.  The sum of
$131,000 was paid to A&L Holding in satisfaction of its secured
claim.  The sum of $500,000 was escrowed for the Committee.  The
debtors also received the sum of $61,012 in respect of post-
closing real estate taxes.  The debtors estimate that as of June
30, 1999 the available cash remaining after the payment of
accrued and unpaid allowed administrative claims will be
approximately $2.8 million.  The IRS has filed a proof of claim
in Perk's case which asserts a $1.5 million secured claim, a
$631,868 priority claim and a $82,475 unsecured claim.  The NYS
Dept of Taxation and Finance has filed a proof of claim in both
Perk's and Brambury's cases which asserts a $1.35 million secured
claim and a priority claim of $2.24 million.  The NYS Dept. Of
Labor, Unemployment Insurance Division has filed a proof of claim
in Perk's case which asserts a priority claim of $919,113. For
unemployment insurance.  FFCA was paid $446,273 and the Partial
Cure Assignment of $500,000 was placed into an escrow account in
the name of the Committee.  This is pursuant to a Compromise
Order providing that the Partial Cure assignment shall be
exclusively available of holders of non-priority unsecured claims
only if all Administrative Claims are paid in full and the
Bankruptcy Court, after a notice and a hearing approves such
allocation.

Treatment of Classes Under the Plan:

Class 1 - Priority Claims - Unimpaired.

Class 2 - Allowed Reclamation Claims - Unimpaired.

Class 3 - Allowed Secured Claims. Impaired.  The IRS shall be
deemed to have an allowed secured claim of $1.5 million and the
NYSDTF shall be deemed to have an allowed secured claim of $1.356
million.  Holders shall be paid pro rata as provided in the plan.

Class 4 - Allowed Tax Claims. The IRS shall be deemed to have an
allowed Class 4 claim of $631,868.  The NYSDTF shall be deemed to
have a Class 4 claim of $2.24 million The NYSDL-UID shall be
deemed to have a Class 4 claim of $905,000.  Holders shall be
paid, pro rata, on account of such claims 50% of the net
recoveries of the assigned causes of action as provided in the
plan.

Class 5 - General Unsecured Claims. Impaired.  Holders will
receive, in cash an amount equal to its pro rata distribution of
the sum of $500,000.  Holders will also share Pro rata in 50% of
the net Recoveries of the assigned causes of action.

Class 6 - Equity Interests. Holders shall not receive or retain
any property or money under the plan.


RENAISSANCE COSMETICS: Committee Taps Saul, Ewing, Remick & Saul
----------------------------------------------------------------
The Official Committee of Unsecured Creditors of Renaissance
Cosmetics, Inc. et al. Seeks authority to retain and employ Saul,
Ewing, Remick & Saul LLP as Delaware counsel for the committee.
The Committee is also seeking authority to retain Kronish, Lieb
as its primary counsel.  

The standard d hourly rates payable to Saul Ewing ranges from
$105 per hour for a paralegal to $295 per hour for a partner.

The firm will provide the following services:

To provide legal advice with respect to the Committee's powers
and duties in these cases;

The preparation on behalf of the Committee of all necessary
applications, answers, order and other legal papers;

The representation of the committee in any and all matters
involving contests with the debtors, alleged secured creditors
and other third parties;

The negotiation of a consensual plan or plans of reorganization;
and

To perform all other legal services for the Committee which may
be necessary and proper in these proceedings.


SGL CARBON: Committee of Unsecured Creditors Seeks To Modify Stay
-----------------------------------------------------------------
The Official Committee of Unsecured Creditors seeks an order
modifying the automatic stay so as to permit a single trial of
civil antitrust claims against the debtor.

On May 4, 1999, SGL Carbon Aktiengesellschaft (SGL AG) and its
Chairman, Robert Koehler, agreed to plead guilty to criminal
charges that they participated in a conspiracy to fix the price
and allocate the volume of graphite electrodes sold in the US and
elsewhere.

All parties, including the debtor recognize that a resolution of
the civil antitrust claims is necessary before the conclusion of
the civil antitrust claims.  The Committee believes that it is in
the interest of all parties for the court to order a limited
modification of the automatic stay to permit a single trail in
the Philadelphia District Court that will enable this court to
fix the value of all antitrust claims against the debtor in a
prompt and efficient manner.


SIRENA APPAREL: Class Action Commences
--------------------------------------
Counsel for Class Plaintiff, Barrack, Rodos & Bacine, today
issued the following:

A class action has been commenced in the United States District
Court for the Central District of California on behalf of all
persons who purchased the common stock of The Sirena Apparel
Group, Inc. (Nasdaq: SIRN SIRNQ)(`Sirena` or the `Company`)
between November 12, 1998, and June 7, 1999, inclusive (the
`Class Period`).

The complaint charges Sirena and principal officers and
directors, Newman, Gerhart and Arbetman, with violations of the
Securities Exchange Act of 1934. The complaint alleges that
beginning in November 1998, defendants made false and misleading
statements about Sirena's operations and earnings.  More
particularly, plaintiff alleges that Sirena filed false
financial statements for the 1st, 2nd and 3rd quarters of fiscal
1999.  On June 7, 1999, Sirena announced that there were
accounting irregularities at the Company and that Sirena would
have to restate its financial results for the first three
quarters of fiscal 1999.  The Company announced it would be
taking materials charges which would include the writedown of
inventory and the writeoff of certain deferred expenses.  The
Company also announced the termination of defendants Newman and
Gerhart, the CEO/Chairman and CFO, respectively.  As a result of
the false public statements and financials, Sirena stock traded
as high as $9 during the class period.  After the June 7, 1999
announcement, the stock fell to as low as $1.875 per share.

Subsequently, Sirena filed a petition for bankruptcy and its
stock is being delisted from the Nasdaq Stock Market.

During the Class Period, but before the truth was revealed on
June 7, 1999, defendant Arbetman, the President and Vice
Chairman, sold 47,000 shares of Sirena stock (90% of his actual
stock).

The plaintiff seeks to recover damages on behalf of all
purchasers of Sirena common stock during the Class Period.  He is
represented by the law firm of Barrack, Rodos & Bacine, which has
extensive experience in prosecuting investor class actions
involving financial fraud.  Barrack, Rodos & Bacine has
prosecuted securities, antitrust and consumer class
actions for over 20 years. The firm has offices in Philadelphia,
San Diego, New York, Boston and New Jersey and has been
designated lead counsel by federal and state courts across the
country in large, complex cases.  For more information about
Barrack, Rodos & Bacine, please visit their website
at www.barrack.com.


STARTER CORP: Seeks To Reject Licensing Agreement
--------------------------------------------------
The debtors, Starter Corporation, et al., seek to reject a
certain Licensing Agency Agreement with SoundView Licensing, Inc.
that provided for SVL to act as a non-exclusive licensing agent
for Starter, and to be paid a commission on the royalty payments
received from licenses. That entered into a contract with Starter
through the assistance of SVL.  Since Starter intends to sell all
or substantially all of their assets, Starter seeks to reject the
agreement.


STARTER CORP: Seeks To Reject License Agreement With USTA
---------------------------------------------------------
Starter Corporation seeks an order authorizing the rejection of
the License Agreement with the USTA, Inc.

Starter and the United States Tennis Association, Inc. Entered
into a License Agreement for licensing of USTA names, symbols,
logos, artwork, copyrights, trade dress and trademarks of USTA in
connection with certain merchandise.  Under the Agreement,
Starter agreed to pay USTA royalties on the sale of the
merchandise bearing its Marks.  Since the debtors intend to sell
all or substantially all of their assets, Starter seeks to reject
the Agreement.


THE COSMETIC CENTER: Order Extends Period To Assume/Reject Leases
-----------------------------------------------------------------
The time within which the debtor, The Cosmetic Center, inc. May
assume or reject unexpired leases of stores going out of business
is extended through and including August 15, 1999.  

The time within which the debtor may assume or reject the leases
of the operating stores is extended through and included
September 30, 1999.


UNITED COMPANIES FINANCIAL: Objection To Relief From Stay
---------------------------------------------------------
United Companies Lending Corporation, one of the debtors, opposes
the motion of The West Group for relief from the automatic stay.  
West Group seeks to lift the automatic stay to allow it to
terminate certain contracts for use of computer software used for
the purpose of legal research to the debtors.  The contracts are
for a one year period ending November 19, 1999.  The debtor
claims  that the automatic stay should not be lifted as the West
Group has not established sufficient cause pursuant to previous
case law.


Meetings, Conferences and Seminars
----------------------------------
July 15-18, 1999
   AMERICAN BANRKUTPCY INSTITUTE
      Northeast Bankruptcy Conference
         Mount Washington Hotel & Resort
         Bretton Woods, New Hampshire
            Contact: 1-703-739-0800

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

August 26-28, 1999
   AMERICAN LAW INSTITUTE - AMERICAN BAR ASSOCIATION
   COMMITTEE ON CONTINUING PROFESSIONAL EDUCATION
      Real Estate Defaults, Workouts and Reorganizations
         San Francisco, California
            Contact: 1-800-CLE-NEWS

August 29-September 1, 1999
   NATIONAL ASSOCIATION OF BANKRUPTCY TRUSTEES
      1999 Convention
         Grove Park Inn, Asheville, North Carolina
            Contact: 1-803-252-5646 or info@nabt.com

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

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

September 24-25, 1999
   VIRGINIA CONTINUING LEGAL EDUCATION
      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
   RENAISSANCE AMERICAN CONFERENCES & BEARD GROUP, INC.
      Conference on Corporate Reorganizations
         Regal Knickerbocker Hotel, Chicago, Illinois
            Contact: 1-903-592-5169 or ram@ballistic.com   

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

October 22-26, 1999
   TURNAROUND MANAGEMENT ASSOCIATION
      1999 Annual Conference
         The Fairmont--Atop Nob Hill, San Francisco, CA
            Contact: 1-312-822-9700 or ljfialkoff@turnaround.org

November 29-30, 1999
   RENAISSANCE AMERICAN CONFERENCES & BEARD GROUP, INC.
      Distressed Investing '99
         The Plaza Hotel, New York, New York
            Contact: 1-903-592-5169 or ram@ballistic.com   

December 2-4, 1999
   AMERICAN BANRKUTPCY INSTITUTE
      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
conferences@bankrupt.com 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
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.  
       
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