TCR_Public/990716.MBX    T R O U B L E D   C O M P A N Y   R E P O R T E R
     
         Friday, July 16, 1999, Vol. 3, No. 135                                              
                           
                    Headlines

ALL FOR A DOLLAR: Hearing to Consider Disclosure Statement
AMERICAN TRACK SYSTEMS: Trustee Taps CPA
CELLEX BIOSCIENCES: Announces Reorganization Plan
COLOR TILE: Seeks Extension of Exclusivity
CRIIMI MAE: Seeks Extension of Exclusivity

DEVLIEG-BULLARD: Files Chapter 11 Petition
DIXONS: Hearing To Consider Approval of Disclosure Statement
EDISON BROTHERS: Applies To Employ Hart Corp. as Broker
EDISON BROTHERS: Landlords Object To More Time
FIRSTPLUS FINANCIAL: Objection to Kahler Motion

FWT INC: Applies to Employ Ernst & Young
GENESIS MANUFACTURING: Seeks Authority to Sell Assets
HOME HEALTH: Seeks Final Date For Filing Proofs of Claim
J.PETERMAN: Order Authorizes Stay Bonuses
NU-KOTE: Lender Objects To Pelikan Holding's Request For Relief

ONEITA INDUSTRIES: Notice of Appeal
PARAGON TRADE: Weyerhaeuser Objects to Equity's Pursuit of Claims
PHILIP SERVICES: Interim Order For Post-Petition Financing
PHP HEALTHCARE: Seeks Authority To Sell Property
SERVICE MERCHANDISE: DCR Confirms No Rating Watch Necessary

TRI-LITE INC: Status Report on Plan
WIRELESS ONE: Seeks To Obtain Secured Postpetition Financing

BOND PRICING FOR WEEK OF JULY 12, 1999


                    **********

ALL FOR A DOLLAR: Hearing to Consider Disclosure Statement
----------------------------------------------------------
The hearing to consider the approval of the Disclosure Statement
and the US Trustee's motion to dismiss or convert has been
adjourned, on consent to August 10, 1999 at 2:00 PM.


AMERICAN TRACK SYSTEMS: Trustee Taps CPA
----------------------------------------
The Chapter 11 Trustee for the estate of American Track Systems
International, Inc. seeks authorization to hire Patrick Fiore of
Patrick Fiore & Associates, PC as the certified public accountant
for the administration of the debtor's Chapter 11 estate nunc pro
tunc to May 1, 1999.

The professional services Patrick Fiore will render include, but
are not limited to:

Review financial records to aid in the completion of bankruptcy
schedules;

Prepare all tax returns;

Assist in preparation of all monthly reports;

Assist to gather assets by reviewing financial records;

Fiore's fees for the services will be calculated at $85 per hour.


CELLEX BIOSCIENCES: Announces Reorganization Plan
-------------------------------------------------
CELLEX Biosciences, a biotechnology company in Minneapolis,
announced yesterday that the Bankruptcy Court for the District of
Minnesota entered the order confirming the company's chapter 11
amended plan of reorganization dated June 28, according to a
newswire. The plan provides for Biovest to gain equity control of
the company with 25 percent of the company’s new common
stock being issued to the company's unsecured creditors. Since
February 1999, Biovest has provided $935,000 in debtor-in-
possession financing to the company. (ABI 15-July-99)


COLOR TILE: Seeks Extension of Exclusivity
------------------------------------------
The debtors, Color Tile, Inc. et al. seek an order further
extending the debtors' exclusive periods in which to file a plan
or plans of reorganization and to solicit acceptances thereof.

The debtors seek entry of an order extending the periods during
which the debtors have the exclusive right to file a plan or
plans of reorganization for approximately an additional 180 days
from July 12, 1999 through and including January 10, 2000.  
Furthermore, provided a plan or plans of reorganization are filed
within such time, the debtors request that the solicitation
periods be extended for an additional period of up to 180 days
from September 17, 1999 through and including March 9, 2000.

The debtor claims that the cases are at a critical juncture.  The
litigation which remains pending represents the potential for a
sizeable recovery, the value of the debtors' estates is highly
speculative until the adversary proceedings are resolved.  
Accordingly, until the conclusion of the pending adversary
proceedings, it is unlikely that the debtor can effectively
prepare a Chapter 11 plan.


CRIIMI MAE: Seeks Extension of Exclusivity
------------------------------------------
The debtors, CRIIMI MAE Inc., et al., seek a further extension of
the periods within which the debtors have the exclusive right to
file plans of reorganization and solicit acceptances thereof for
a period of two months.  Specifically, the debtors seek to extend
the exclusive period for filing plans of reorganization from the
current deadline of August 2, 1999 through and including October
4, 1999, and to extend the Exclusive Period for soliciting
acceptance of plans from October 3, 1999 through and including
December 3, 1999.

The debtor states that these cases are complex and large.  The
business structure of the debtors and the CMBS market justify
further extension of the exclusive periods.  The fact that the
debtors have scheduled less than 100 creditors does not diminish
the size or complexity of the cases, or otherwise reduce the need
for the requested extension.

The debtors claim that they are progressing toward reorganization
and that they are complying with all bankruptcy requirements, and
have formulated an exit strategy that requires a two-month
extension of the exclusive periods.

The debtors say that they have made progress toward
reorganization in that they have progressed in obtaining equity
financing necessary to fund a consensual plan of reorganization
that will pay allowed claims in full, which will be funded
principally by a combination of a private placement of stock,
bank financing and the issuance of high yield debt.  The debtors
retained Wasserstein Perella to assist in formulating and
implementing a strategy to fund a successful plan, and the debtor
maintains that it will be in a position to file a plan of
reorganization designed to pay allowed claims in full by August
2, 1999.  Once the Equity Investment is finalized the debtors
will be in a position to proceed with bank debt and high yield
debt on "the best available terms."  The debtors say that they
have increased their net cash surplus from approximately $7
million as of the Petition date to approximately $55 million as
of April 30, 1999.  Despite Merrill Lynch's assertion to the
contrary, the debtors claim that the extension will not prejudice
creditors.


DEVLIEG-BULLARD: Files Chapter 11 Petition
------------------------------------------
DeVlieg-Bullard Inc. (OTC Bulletin Board: DVLG) has filed a
voluntary petition in the U.S. Bankruptcy Court for the Northern
District of Ohio to reorganize under Chapter 11 of the United
States Bankruptcy Code. The Company plans to continue operating
its business under Chapter 11 protection from creditors while
seeking to work out a plan of reorganization.

The Company has entered into an agreement with the CIT
Group/Business Credit Inc. and BNY Factoring LLC to provide the
Company with Debtor in Possession, or DIP, financing. The
agreement is intended to refinance existing senior secured debt
as well as to provide loans for working capital and general
corporate purposes. The company expects to seek Bankruptcy Court
approval of the financing as soon as possible.

DeVlieg-Bullard's current liquidity problems and inability to
obtain new financing under terms acceptable to the Company
resulted in the filing for reorganization. As disclosed in its
third quarter 10-Q, the Company is seeking buyers for certain
non-core assets in order to reduce its outstanding debt.

Additionally, the Company has named John Haggerty of Argus
Management Corp. to the post of interim chief executive officer.
Mr. Haggerty, 41, is a business consultant with extensive
experience in corporate restructuring. Richard Sappenfield, the
Company's former CEO, will continue as president.

"While the decision to file for Chapter 11 protection was a
difficult one, it represents the best alternative for the Company
at this time," Mr. Sappenfield said. "Chapter 11 protection will
provide us with time to reduce and restructure our debt while
continuing to serve our customers in all areas of our operations.

"We are most grateful for the support that our customers and
suppliers have shown for us during this difficult period," Mr.
Sappenfield said. "We are also especially thankful for the
continued loyalty and support of our dedicated employees."

DeVlieg-Bullard is a diversified industrial concern specializing
in manufacturing, tooling, servicing, upgrading, automating, and
remanufacturing precision-engineered machine tools. The Company
also manufactures a variety of power tools for niche industrial
and home hobbyist markets.


DIXONS: Hearing To Consider Approval of Disclosure Statement
------------------------------------------------------------
The debtors, Dixons US Holdings, Inc. and its debtor affiliates
will present the Disclosure Statement for approval at a hearing
before The Honorable Peter J. Walsh beginning at 11:00 AM on
August 12, 1999 in Courtroom 2, 6th floor, US Bankruptcy Court,
824 Market Street, Wilmington, Delaware 19801.


EDISON BROTHERS: Applies To Employ Hart Corp. as Broker
--------------------------------------------------------------
The Debtors tell the Court that in their continuing effort to
maximize the value of their estates, they are soliciting offers
for the purchase of their various distribution centers and
evaluating all offers.  The Debtors, as Edison Brothers Apparel
Stores, own distribution centers in Rome, Georgia; Princeton,
Indiana; and Rialto, California.  As Edbro Missouri Realty
Company, the Debtors own a distribution center in Washington,
Missouri.  The Debtors have sold the Princeton, Indiana
distribution center, which is scheduled to close on July 9, 1999.

The Debtors seek authority to retain Hart Corporation as their
real estate broker to market the Rialto, California and
Washington, Missouri distribution centers.  The Rialto
distribution center is located at 1371 North Laurel Avenue and
the Washington center is located at 200 West Link Industrial
Drive.  

The Debtors say they have selected Hart to marker these two
distribution centers because Hart specializes in representing
companies in connection with buying, selling, and leasing
industrial properties located outside of major metropolitan area.

The following terms are applicable to the Hart agreement to
market the Rialto property are:

1. Term: the initial term of the Agreement is nine months from
May 26, 1999 and shall be automatically extended for six months
unless terminated in writing.

2. Commission: if the Debtors enter into an Agreement to sell or
lease all or a portion of the Rialto distribution center, the
Debtors shall pay Hart the greater of $102,000 or 6% of the gross
sales price due under the sale agreement and/or the gross
aggregate rentals for the full initial term of any lease and any
renewal terms and/or extensions of tenancy.   To the extent that
the Debtors receive any nonrefundable deposits which are not
applicable to the purchase price, then the Debtors shall pay Hart
a commission equal to 25% of such deposits.

3. Expenses: the Debtors shall pay Hart an $18,000 allowance for
marketing expenses.

4. Exclusion: Hart shall not be entitled to a commission on any
sale or lease of all or a portion of the Rialto distribution
center to DSL Transportation Services or any of its affiliates if
the Debtors execute sale or lease documents within 60 days of
Court approval of the Rialto Agreement

5. Removal from Market: in the event that the Debtors remove the
Rialto distribution center from the market for any reason, then
the Debtors will pay Hart a $45,000 fee within 15 business days.  
If the Debtors elect to donate or abandon the Rialto center, then
Hart shall not be entitled to any commission other than the
$45,000 fee.

6. Commission after Termination or Expiration: If all or part of
the Rialto center is sold or leased within one year following
termination or expiration of the Rialto Agreement, and the sale
is to someone Hart reasonable dealt with prior to the termination
date or who Hart procured for the D, then Hart shall be entitled
to its full commission

7. Lien Securing Payment: Hart is entitled to a lien on all
rentals due under the lease to secure payment of its commissions

8. Dual Representation: Hart may represent prospective tenants or
purchasers with respect to the Rialto distribution center so long
as such dual representation is disclosed to the Debtors in
writing.

The following terms are applicable to the Agreement to market the
Washington property are:

1. Term: the initial term of the Agreement is nine months from
May 26, 1999 and shall be automatically extended for six months
unless terminated in writing.

2. Commission: if the Debtors enter into an Agreement to sell or
lease all or a portion of the Washington distribution center, the
Debtors shall pay Hart the greater of $220,000 or 6% of the gross
sales price due under the sale agreement and/or the gross
aggregate rentals for the full initial term of any lease and any
renewal terms and/or extensions of tenancy.   To the extent that
the Debtors receive any nonrefundable deposits which are not
applicable to the purchase price, then the Debtors shall pay Hart
a commission equal to 25% of such deposits.

3. Expenses: the Debtors shall pay Hart an $18,000 allowance for
marketing expenses.

4. Exclusion: Hart shall not be entitled to a commission on any
sale or lease of all or a portion of the Washington center to DSL
Transportation Services, Spartan Showcase, David K. Schlafley,
Inc., Number 7, Inc., State Stores, or any of their affiliates;
provided the Debtors execute sale or lease documents within 60
days of Court approval of the Washington Agreement

5. Removal from Market: in the event that the Debtors remove the
Washington center from the market for any reason, then
the Debtors will pay Hart a $45,000 fee within 15 business days.  
If the Debtors elect to donate or abandon the Washington center,
then Hart shall not be entitled to any commission other than the
$45,000 fee.

6. Commission after Termination or Expiration: If all or part of
the Washington distribution center is sold or leased within one
year following  termination or expiration of the Washington
Agreement, and the sale is to someone Hart reasonable dealt with
prior to the termination date or who Hart procured for the D,
then Hart shall be entitled to its full commission

7. Lien Securing Payment: Hart is entitled to a lien on all
rentals due under the lease to secure payment of its commissions

8. Dual Representation: Hart may represent prospective tenants or
purchasers with respect to the Rialto distribution center so long
as such dual representation is disclosed to the Debtors in
writing.(Edison Brothers Bankruptcy News Issue 31; Bankruptcy
Creditors Services, Inc.)


EDISON BROTHERS: Landlords Object To More Time
--------------------------------------------------------------
In response to the Debtors' motion for additional time, some
landlords filed objections.

Heitman Retail Properties et al.
--------------------------------
Heitman Retail Properties, Urban Retail Properties, and W9/ONS
Real Estate Limited Partnership are lessors to the Debtors and
owners of eleven malls.  They collectively lease 29 retail stores
to the Debtors.  The Debtors are conducting going out of business
sales are each of the stores.  These sales are scheduled to
conclude no later than the end of July 1999.  These Lessors
object and note that the granting of the extension motion allows
the Debtors to close the stores at the end of the going out of
business sales and leave them dark, and later reject the leases
during the going back to school retain season.  The Lessors tell
the Court that the "later the Debtors make their decisions to
reject leases, the less likely it will be that Lessors
will be able to mitigate their damages by locating replacement
tenants for the back to school season.  The Lessors believe that
because the GOB sales will not extend beyond the end of July, no
extension should be granted beyond that date.

In a related Motion, W9/ONS filed a motion to compel the Debtors
to reject a lease for real property located at 1 North State
Street in Chicago, Illinois.  At the hearing on the Motion, the
Court denied the request after the Debtors entered into an
Agreement on the record to permit the property to be rejected if
they did not file a motion to assume or assign the lease
by July 15, 1999.

Security Square Associates
--------------------------
Security Square Associates also filed an objection as lessor of
three non-residential real property leases to which the Debtors
are a party. Security Square notes that it faces the prospect of
locating suitable replacement tenants for the three mall spaces
being vacated by the Debtors without knowing whether the Debtors
will reject the leases.  It asks the Court to require the Debtors
to either assume or reject the leases within 30 days after the
completion of the store closing sales.  (Edison Brothers
Bankruptcy News Issue 31; Bankruptcy Creditors Services, Inc.)


FIRSTPLUS FINANCIAL: Objection to Kahler Motion
-----------------------------------------------
FirstPlus Financial, Inc. filed an objection to Kahler
Plaintiffs' motion for relief from the automatic stay.

Financial submits that the pursuit of the potential class action
against Financial in the California District Court would
significantly interfere with the bankruptcy case; the pursuit of
the Kahler plaintiffs' claims against the estate in another forum
would greatly prejudice the interest of other creditors; this
court can economically and expeditiously resolve the Kahler
plaintiffs' claims as part of the claims objection process; the
Kahler Lawsuit is at a very preliminary stage in the California
District Court and the plaintiffs would suffer no undue prejudice
if relief is denied.


FWT INC: Applies to Employ Ernst & Young
----------------------------------------
The debtor, FWT, Inc. files an application to employ Ernst &
Young LLP as its accountants and financial advisors.  The
services contemplated are, but not limited to:

Assistance with filing Texas franchise tax returns for tax years
1998 and 1999;

Audit defense services for Texas sales and use tax and Texas
franchise tax audits currently in progress;

Assistance to obtain Texas sales tax refunds on prior year tax-
exempt purchases;

Assistance with federal income tax filings and audit issues;

Provide expert testimony, if required.


GENESIS MANUFACTURING: Seeks Authority to Sell Assets
-----------------------------------------------------
The debtor, Genesis Manufacturing Limited LC seeks court approval
of a sale of substantially all of the debtor's assets to a
corporation to be formed by Cortran Group, Inc. or to a qualified
bidder submitting the highest and best bid at an auction sale.  
The asset purchase agreement provides for the sale of the assets
to the purchaser for $5.75 million.

Competitive bidding shall start in the amount of the purchase
price plus $100,000, and continue in increments of $50,000.  A
break-up fee of $100,000 is provided in the purchase agreement.  
Cortran represents that it is an investment group that invests in
manufacturing companies, presently holding investments in auto
parts manufacturers and suppliers with operations similar to
those of the debtor.  Cortran and the purchaser possess GM's
approval of the purchaser's acquisition of the sale assets and
operation thereof as a GM supplier.


HOME HEALTH: Seeks Final Date For Filing Proofs of Claim
--------------------------------------------------------
The debtor, Home Health Corporation of America, Inc., et al.
seeks a court order fixing August 23, 1999 at 4:00 PM prevailing
Eastern time as the last date and time for the filing of proofs
of claim against the debtors.


J.PETERMAN: Order Authorizes Stay Bonuses
-----------------------------------------
The US Bankruptcy Court for the Eastern District of Kentucky,
Lexington Division entered an order approving stay bonuses
totaling approximately $760,000.


NU-KOTE: Lender Objects To Pelikan Holding's Request For Relief
---------------------------------------------------------------
The Lenders, represented by NationsBank, NA as agent, object to
the motion of Pelikan Holding AG for relief from the automatic
stay.  The Lenders claim that pursuant to an asset and stock
purchase agreement the debtor purchased from Pelikan Holding AG
the Hardcopy Business, which is engaged in the development,
production and marketing of supplies for printing devices.  
Pelikan now seeks to initiate arbitration proceedings against the
debtor because of certain environmental issues Pelikan has
against the debtor.  The Lenders state that the motion should be
denied because it is not ripe in that the purchase agreement
provides for an environmental dispute resolution mechanism
separate and apart from the arbitration procedures.


ONEITA INDUSTRIES: Notice of Appeal
-----------------------------------
Consolidated Auctioneers & Liquidators, Inc. appeals to the US
District Court for the District of Delaware from the order
approving bidding procedures with respect to Bulk Sale and
Approving Break-Up Fee; and Establishing Procedures Requiring All
Parties Asserting an Ownership Interest or Lien in Debtor's
Manufacturing Equipment to identify the equipment to validate
their ownership interest or lien therein and to advise the debtor
whether such equipment shall be included in bulk Sale and To
allocate sale proceeds thereof.


PARAGON TRADE: Weyerhaeuser Objects to Equity's Pursuit of Claims
-----------------------------------------------------------------
The Equity Committee seeks leave to pursue certain claims against
Weyerhaeuser Company by commencing an adversary proceeding on
behalf of the debtor's estate.  The Equity Committee seeks to
assert that Weyerhaeuser breached certain warranties in the Asset
Transfer Agreement and the Intellectual Property Agreement
between Weyerhaeuser and Paragon.  Weyerhaeuser states that the
Equity Committee fails to state a claim against Weyerhaeuser,
therefore, there has been no breach of contract, and the Equity
Committee's motion should be denied.  

Weyerhaeuser explains that it has not breached warranties under
the Intellectual Property Agreeemnt, and that is why the debtor
has not pursued any claims against Weyerhaeuser, as there is no
basis for any such claims.


PHILIP SERVICES: Interim Order For Post-Petition Financing
----------------------------------------------------------
The US Bankruptcy Court for the District of Delaware entered an
interim order authorizing the debtors, Philip Services (Delaware)
Inc., et al. to obtain post-petition financing.  A hearing will
be held with respect to the entry of a Final Order on July 27,
1999 at 2:00 PM.  The post-petition financing is in an aggregate
principal amount not to exceed $100,000,000 from Bankers Trust
Company, as agent and a syndicate of financial institutions
arranged by Canadian Imperial Bank of Commerce and BTCo.   The
debtors are authorized to incur indebtedness for letters of
credit from the DIP Lenders in the aggregate amount of $12
million.

By separate order the court approved a stipulation and order
authorizing and restricting the debtors' use of cash collateral
and granting adequate protection of certain secured claims.  The
debtors shall establish and maintain a cash management system as
provided in the DIP Credit Agreement.  Proceeds from post-
petition asset sales shall be used to repay amounts outstanding
under the DIP with amounts in excess of $93 million being
deposited into an excess account.  Cash collateral shall be
advanced in accordance with the Budget approved by the parties.  
A $3 million carve-out is provided for postpetition professional
fees.

The court entered an interim order approving a cross-border
insolvency protocol. A hearing for final approval of the protocol
shall be conducted on July 27, 1999 at 2:00 PM.

The court also entered an order approving the indemnity agreement
and inter-creditor agreement regarding the treatment of surety
obligations.  The debtors and the Canadian entities are
authorized to execute and deliver a certain inter-creditor
agreement and the indemnity agreement.  The surety participants
are granted first priority liens and security interests on all
bonded contracts, bonded contract receivables and bonded contract
assets.


PHP HEALTHCARE: Seeks Authority To Sell Property
------------------------------------------------
The debtor, PHP Healthcare Corporation seeks court authority to
sell the debtor's interest in the following non-residential real
property:

Charleston, South Carolina - 8088 Rivers Avenue, 1.48 acre tract
of real property and a 9,823 square foot building. The Buyer,
Dunbarton, LLC agrees to pay a purchase price of $700,000;
brokerage fee to Keen Realty equal to 6% of purchase price.

Jacksonville, North Carolina - .99 acre tract of real property
and 10,530 square foot building.  The purchaser, Marvin A. Trott,
Jr., has agreed to pay $485,000; brokerage fee to Keen Realty
equal to 5% of purchase price.

Virginia Beach, Virginia - 2.79 acre tract of real property and a
12,350 square foot structure. The purchaser, 1124 Lynnhaven
Parkway, LLC or assigns, has agreed to pay $701,000 to purchase
the property. Brokerage fee in the amount of 6% to Keen Realty.


SERVICE MERCHANDISE: DCR Confirms No Rating Watch Necessary
-----------------------------------------------------------
After reviewing the March 27, 1999, Chapter 11 bankruptcy filing
of Service Merchandise Co., DCR confirms that no Rating Watch
action is necessary at this time for Merrill Lynch Mortgage
Investors Inc., Series 1996-C2.

The Service Merchandise (NYSE: SME) portfolio loan, which is more
than three months delinquent, is composed of 19 cross-
collateralized and cross-defaulted loans secured by 19 Service
Merchandise stores.  Together they represent approximately 4.5
percent of the total pool balance for Merrill Lynch Mortgage
Investors, Inc., Series 1996-C2. The borrower, a wholly owned
subsidiary of Service Merchandise Co., also declared
Chapter 11 bankruptcy. CRIIMI MAE Services, L.P., under the
direction of ORIX Real Estate Capital Markets, LLC, the special
servicer of record, is in negotiations with Service Merchandise
concerning possible resolutions.

Overall the stores are geographically dispersed and located in
strong retail trade areas. DCR examined the sales per square foot
for 15 of the 19 stores and found 1998 sales to be consistent
with the Service Merchandise average.

Of the 19 Service Merchandise stores, Service Merchandise has
closed only its Bloomington, Ind. location. This store was sold
at an auction on July 8, 1999, and based on the purchase price
obtained, DCR does not anticipate that the sale will result in
any loss to the pool. Service Merchandise has not
announced plans to close any of the remaining 18 stores.


TRI-LITE INC: Status Report on Plan
-----------------------------------
The debtor, Tri-Lite, Inc. reports that the Reorganized Debtor's
plan was confirmed by court order dated March 13, 1997.  The plan
consists of six classes of creditors and interest holders.  All
payments have been made pursuant to the plan and ongoing payments
due are current.  The Reorganized Debtor intends to make an
application for a final decree and an order closing the case
within the next 90 days.


WIRELESS ONE: Seeks To Obtain Secured Postpetition Financing
------------------------------------------------------------
Wireless One, Inc., debtor, seeks an order authorizing the debtor
to obtain secured postpetition financing on a super-priority
basis.  As a result of an auction, the debtor secured a
commitment letter for a new postpetition facility from MCI
WorldCom on terms more favorable than those offered by any other
lender.  On June 22, 1999, the court authorized the debtor to
enter into a commitment letter with MCI WorldCom which sets forth
the fundamental terms of the new postpetition facility proposed
by MCI WorldCom.  The debtor now seeks approval and authorization
of the new postpetiton financing facility offered by MCI WorldCom
authorizing the debtor to obtain postpetion financing in the
aggregate principal amount of $36,050,000 from MCI Worldcom.  The
existing postpetition facility provided the debtor approximately
$18.9 million at an interest rate of 15% per annum, and has a
maturity date of August 12, 1999.


BOND PRICING FOR WEEK OF JULY 12, 1999
======================================
Following are indicated prices for selected issues:

Acme Metal 10 7/8 '07                14 - 17 (f)
Amer Pad & Paper 13 '05              62 - 64
Asia Pulp & Paper 11 3/4 '05         76 - 78
Boston Chicken 7 3/4 '05              5 - 6 (f)
E & S Holdings 10 3/8 '06            52 - 54
Geneva Steel 11 1/2 '01              21 - 22 (f)
Globalstar 11 1/4 '04                76 - 78
Hechinger 9.45 '12                   11 - 13 (f)
Iridium 14 '05                       20 - 21 (f)
Jitney Jungle 10 3/8 '07             32 - 35
Loewen 7.20 '03                      65 - 66
Planet Hollywood 12 '05              19 - 21 (f)
Samsonite 10 3/4 '08                 80 - 82
Service Merchandise 9 '04            22 - 23 (f)
Sterling Chemical 11 3/4 '06         77 - 79
Sun Healthcare 9 1/2 '07             12 - 15 (f)
Sunbeam 0 '18                        17 - 18
TWA 11 3/8 '06                       68 - 70
Vencor 9 7/8 '05                     30 - 33 (f)
Zenith 6 1/4 '11                     22 - 25 (f)

                   **********

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

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