TCR_Public/990929.MBX    T R O U B L E D   C O M P A N Y   R E P O R T E R
       Wednesday, September 29, 1999, Vol. 3, No. 188                                              

ACTION INDUSTRIES: Seeks Time To File Schedules
AFP IMAGING: Fiscal Year-End Comparison Figures Reported
BRUNO'S: 60 Percent of Workers Showed Up Despite Strike
CARVER CORP: Hearing on Disclosure Statement
CRIIMI MAE: Fitch IBCA Affirms RatingAlert-Negative

CRIIMI MAE: Reports Declaration of Dividend to SEC
DANKA BUSINESS SYSTEMS: Annual Meeting Scheduled In London
DEVLIEG BULLARD: Order Extends Time To Assume/Reject Leases
DIXONS US HOLDINGS: Disclosure Statement; Joint Liquidating Plan
ELECTRO-CATHETER CORP: Applies To Employ Real Estate Broker

EVANS: Files Chapter 11
FIRSTPLUS FINANCIAL: Committee Objects To Disclosure Statement
FWT INC: Noteholder Committee Objects to Employ of Navigant
FWT,INC: Court Approves Chanin & Company
GOSS GRAPHIC: Seeks Extension To Assume/Reject Leases

GENESIS DIRECT: Applies for Authority To Employ Arthur Andersen
HAITAI BEVERAGE: To Be sold To Clarion Capital in Hong Kong
HARVARD INDUSTRIES: Future Operations Vital To Survival
HUMANA: Transfers Operations of Eight Former FPA Medical Centers
HURRICANE HYDROCARBONS: Files Plan of Compromise and Arrangement

INTERNATIONAL TOURIST: Annual Meeting Set For October 16, 1999
IONICA PLC: Motion To Dismiss Case
LONDON FOG: Files for Chapter 11 Protection  
MOLTEN METAL: Chapter 11 Trustee Taps Special Counsel
NEUROMEDICAL SYSTEMS: Monthly Figures Show Net Losses

NEXTWAVE TELECOM: Senior Claimants To Receive Notes and Rights
POWER DESIGNS: Files Financial Information For Fiscal Year
RIGCO: Agreed Order Authorizing Use of Cash Collateral
SUN TELEVISION: Reports Monthly Gains/Losses
TALK AMERICA: Application To Employ Appraiser

VENCOR:  Three More Execs Sentenced To Prison
ZENITH: Minority Shareholders Fight Plan


ACTION INDUSTRIES: Seeks Time To File Schedules
The debtors, Action Industries, Inc. and General Vision Services,
Inc. provide optical plans to various unions in metropolitan New
York and operate a number of retail optical stores.  The debtors
require additional time to bring their books and records up to
date and collect and collate the data needed for the preparation
and filing of the Schedules and Local Rule Affidavit.  The
debtor's computer system is outdated and inefficient and the
debtors are understaffed.  Therefore, due to the extensive nature
of the information sought, the debtors need more time to gather
and present that information.  The debtors estimate that an
additional 15 days, to October 8, 1999 will be sufficient.

AFP IMAGING: Fiscal Year-End Comparison Figures Reported
AFP Imaging Corporation was organized on September 20, 1978,
under the laws of the State of New York. Since its inception, the
company has been engaged in the business of designing,
developing, manufacturing and distributing equipment for
producing "hard copy" images by chemical processing
photosensitive materials as well as manufacturing other closely
related electro/optical imaging equipment. These products have
been adapted to medical, industrial, dental and graphic arts
applications. The company's products are distributed to worldwide
markets through a network of dealers.

Sales decreased $4.4 million between the two fiscal years ended
June 30, 1999 and 1998.  All of the company's product lines
experienced a decline in volume. The most significant was in the
graphic arts products that have been adversely affected due to
the evolving printing technology and changing customer demands.
Fluctuating world markets, combined with the strong US dollar
reduced the company's export sales by approximately 27%.
The dental products through the recent acquisitions and
marketing/distribution agreements, showed the most growth. The
company continues to explore and develop potential distribution
channels and new products through engineering efforts, aggressive
marketing as well as repositioning its product pricing in the
market place. The company has absorbed slight increases in
material costs without any significant price increases in its
products. A small price increase was implemented on some
products in July 1999 which should help to improve the gross
margin in Fiscal Year 2000.

For the fiscal year ended June 30, 1999 revenues were reported at
$29,370,338 on which net loss occurred of $2,206,942.  For
comparison, the fiscal year 1998, ended June 30th of that year,
saw revenues of $33,772,707 and net loss of $3,327,565.

BRUNO'S: 60 Percent of Workers Showed Up Despite Strike
More than 60 percent of Bruno's Inc. employees showed up as
scheduled to work just hours after a union vote authorizing the
first strike of the grocery chain, the company said.

But leaders of the United Food and Commercial Workers were
unfazed, saying the mixed results Sunday were typical for the
first day of a walkout.

Employees walking picket lines in front of stores asked shoppers
to honor the lines and go elsewhere for their groceries. Those
who crossed the lines were greeted in some stores with free soft
drinks and, in one case, the company's chief executive bagging
their purchases.

About 2,600 workers were due at 104 company stores statewide at 6
a.m. Sunday, following the Saturday night vote, company officials
said. Of those, about 1,500 or 60 percent reported as scheduled,
spokeswoman Lynn Sampson said. Twenty-eight stores had all of
their scheduled workers report. All of the employees work under a
UFCW contract.

A union spokeswoman dismissed the company's figures.

"Lots of workers called in sick and there are some striking who
may not be walking pickets," UFCW International representative
Jill Cashen said. "The best way to tell if the strike is a
success is in the pocketbook."

Thirty-five percent of UFCW union Local 1657's members voted
Saturday night on the final contract offer from Bruno's, union
President George Siedenfaden said. Of those, 83 percent rejected
the deal and authorized the strike.

Both sides said Sunday there were no plans to resume negotiating.

"We made our last, best and final offer," CEO Jim Demme said.
"The only thing that can happen is that a federal mediator order
both sides back to the table."

Demme made a videotaped appeal to employees Friday, saying the
bankrupt company is at risk of closing stores if a walkout is
authorized. The main sticking point for many union members is job
security. The union had asked that employees be guaranteed jobs
if Bruno's, which is struggling to emerge from Chapter 11
bankruptcy protection, is sold or merged. Bruno's officials have
said there are no plans to sell or merge the company,
and they met the union's other requests for pay raises and
benefit protection.

Union officials contended Bruno's "watered down" job security
language in the final offer.

To make up for the workers who stayed away, Bruno's made some new
hires, shuffled workers among stores and put managers on duty in
checkout lines. Demme was among them, helping bag groceries at
the Summit store in Birmingham Sunday.  Demme visited 10 stores
in the Birmingham area Sunday and said he would visit stores
daily throughout the strike. Although some stores were 24 hours,
all closed at midnight Saturday and reopened at 6 a.m. Sunday,
and the same schedule would be followed late Sunday, a Bruno's
spokesman said. He did not say how many of the 104 stores were 24

The strike affected only Bruno's Inc. stores in Alabama. The 104
retail outlets included 63 Food World, 19 Food Fair and 22
Bruno's Food and Pharmacy stores.

CARVER CORP: Hearing on Disclosure Statement
The debtor, Carver Corporation filed a plan of reorganization and
a disclosure statement.  A hearing will be held on October 18,
1999 at 11:00 AM, US Bankruptcy Court for the Western District of
Washington, Room 416, 1200 Sixth Avenue, Seattle, Washington.

CRIIMI MAE: Fitch IBCA Affirms RatingAlert-Negative
Fitch IBCA affirms and maintains RatingAlert-Negative on
CRIIMI MAE Services LP's (CRIIMI MAE) commercial mortgage
servicer ratings, following its annual rating review. CRIIMI
MAE's primary servicer rating is 'CPS3 on RatingAlert-negative';
master servicer rating 'CMS3 on RatingAlert-negative'; and
special servicer rating 'CSS2 on RatingAlert-negative'.  The
RatingAlert-negative remains because the servicer's parent,
CRIIMI MAE Inc., has been in Chapter 11 bankruptcy since Oct. 5,

On Sept. 23, 1999, CRIIMI MAE Inc. filed a plan of reorganization
with the U.S. Bankruptcy Court. Fitch IBCA will continue to
monitor the situation and take rating action as warranted.

Since the bankruptcy filing, CRIIMI MAE has not added any loans
to its servicing portfolio and has improved its servicing
capabilities. A notable improvement is the creation of distinct
master/primary servicing and special servicing departments.
Previously, a single department handled those responsibilities.
CRIIMI MAE realized that the workload was handled more
efficiently through two distinct servicing departments. In
addition, CRIIMI MAE has continued to be effective in primary,
master, and special servicing CMBS transactions, as indicated by
Fitch IBCA's CMBS surveillance team.

CRIIMI MAE is primary servicer on 10 commercial mortgage-backed
securities (CMBS) transactions, totaling $ 2.2 billion; master
servicer on two CMBS transactions, in which CRIIMI MAE oversees
12 primary servicers; and special servicer on 28 transactions,
totaling $ 27 billion. CRIIMI MAE is special servicing 63 loans
and REO assets, totaling $ 248 million.

CRIIMI MAE: Reports Declaration of Dividend to SEC
On September 14, 1999, the Board of Directors of Criimi Mae Inc.,
a Maryland corporation, declared a dividend on its common stock,
deemed by the Board to have an aggregate value in the amount of
approximately $16,100,000. The dividend will be paid in shares of
a new series of preferred stock of the corporation, face value
$10.00 per share, designated as Series F Redeemable Cumulative
Dividend Preferred Stock.

One salient factor in ownership of such preferred stock is that
upon any voluntary or involuntary liquidation, dissolution or
winding up of the affairs of the corporation, before any
distribution or payment is made to the holders of any shares of
common stock or any class or series of junior capital stock
ranking junior to the Series F Dividend Preferred Stock as
to distribution of assets upon any liquidation,  dissolution or
winding up of the corporation, the holders of Series F Dividend
Preferred Stock will be entitled to receive, out of assets of the
corporation legally available for distribution to stockholders,
liquidating distributions in an amount equal to the face amount
of the Series F Dividend Preferred Stock, together
in each case with an amount equal to any accrued and unpaid
dividends as of the date of  liquidation, dissolution or winding

DANKA BUSINESS SYSTEMS: Annual Meeting Scheduled In London
Shareholders of Danka Business Systems PLC are advised that the
company's 1999 annual general meeting will be held on Monday,
October 18, 1999 at 3:30 p.m. (local time) at the Royal Garden
Hotel, 2-24 Kensington High Street, London W8 4PT.

The formal business of the meeting, will include resolutions
proposing re-election of Directors; re-appointment of the
company's auditors; authorization for the Directors to allot
ordinary shares; authorization to disapply pre-emption rights;
authorization for purchase by the company of its own shares;
approval of the company's amended U.S. Profit Sharing Plan,
established under Section 401(k)of the U.S. Internal Revenue
Code, to permit the company to match employee contributions with
shares of the company stock; and approval of the company's 1999
Share Option Plan. Reports on the progress of the company and
comments on matters of current interest will also be given on at
the meeting.

Full text of the proxy statement may be had by accessing the  
Internet, free of charge.

DEVLIEG BULLARD: Order Extends Time To Assume/Reject Leases
By order of the US Bankruptcy Court for the Northern District of
Ohio, Eastern Division, the time within which the debtor must
assume, assume and assign or reject unexpired nonresidential real
property leases is extended until the confirmation of the
Debtor's plan of reorganization.

DIXONS US HOLDINGS: Disclosure Statement; Joint Liquidating Plan
Dixon's U.S. Holdings Inc. and its debtor affiliates propose a
plan that establishes a Plan Trust for the purpose of liquidating
the Plan Trust Assets with no objective or authority to continue
or engage in the conduct of a trade or business.
The plan contemplates substantive consolidation of the debtors'
estates.  The debtors' known assets currently consist of cash in
the amount of approximately $9.35 million and certain causes of
action.  The cash and proceeds, if any, will be used to fund the
plan.  The court has scheduled a hearing on confirmation of the
plan for October 21, 1999 at 9:30 AM.

Summary of Treatment of Claims and Interests Under the plan:

Class                  Estimated Allowed Amount  Proposed

Allowed Administrative          $1.3 million       Unimpaired

Priority Tax Claims             $1.925 million     Unimpaired

Class 1 - Priority Claims       $1.65 million      Unimpaired

Class 2 - Miscellaneous         $1.5 million       Unimpaired
Secured Claims

Class 3 - Silo Warranty Claims  $900,000           Unimpaired

Class 4 - General               $151 million     Pro rata share
Unsecured Claims
The debtors estimate up to $1.5 million available for
distribution.  Estimated Percentage Recovery: 0% to 5%. Impaired.

Class 5 - Interests - No recovery - Impaired.

ELECTRO-CATHETER CORP: Applies To Employ Real Estate Broker
The debtor, Electro-Catheter Corporation is seeking to hire the
firm of Cushman & Wakefield of New Jersey as exclusive broker for
the sale of the debtor's office and manufacturing facility.

EVANS: Files Chapter 11
Evans Inc., a Chicago-based fur retailer, filed chapter 11
yesterday, according to Reuters. Evans said it was forced to file
after three of its creditors filed involuntary petitions against
the company in New York. Evans owns and operates six stores in
Chicago and has 49 leased fur operations in many major department
stores across the country. The company was disappointed that the
creditors forced it into bankruptcy because it had been
negotiating a restructuring plan with its secured lender. The
company expects to emerge from chapter 11 in a short time "as a
leaner and more profitable operation," according to Evans
President and CEO Samuel Garber. (ABI 28-Sept-99)

FIRSTPLUS FINANCIAL: Committee Objects To Disclosure Statement
The Official Unsecured Creditor's Committee of FirstPlus
Financial, Inc. objects to the information contained in the
Disclosure Statement of the debtor.

The Committee states that the success of the proposed plan is
based on payment of two notes that fund two settlements.  First,
the WIB Note in the amount of approximately $18 million will be
used to fund the settlement of claims arising from the transfer
of the Servicing Business to WIB. Second, the Settlement Note in
an amount of up to $32 million will settle all other claims
against a broad array of related parties and affiliates.  Both
the WIB Note and the Settlement Note will be paid from funds
provided from the sale, recapitalization, or refinancing of FP
Bank and the Servicing Business.  Additional cash in the amount
of $18 million is to be provided by the debtor from its
unencumbered assets. A Cash Flow Instrument, which is to be paid
via cash flow from Residual Assets and from the debtor's Loan
Production Business, is also to be created under the plan.  The
proceeds of the WIB Note will be distributed to both the Non-
Electing and Electing Creditors.  The plan provides that only the
Electing Creditors who elect to release the Affiliates will be
the beneficiaries of the Settlement Note.  Funds from the Cash
Flow Instrument however will be provided only to the Non-Electing
Creditors and the FPFG Intercompany Claim.  The payment of the
WIB Note and Settlement Note are to be secured by a lien on the
WIB Stock and FPB Stock.

For creditors to understand the plan, the Committee stresses that
they must understand who the Affiliates are; the extent of the
releases contemplated by the plan; the nature and extent of legal
claims which exist against creditors and other parties; the risk
associated with being an electing creditor under the plan; the
financial condition of FPFG and WIB and the nature of litigation
and other claims against the debtor.  According to the Committee,
the Disclosure statement fails to provide adequate information on
these very critical matters.

FWT INC: Noteholder Committee Objects to Employ of Navigant
The Official Committee of Noteholders of FWT, Inc. objects to the
employ of Navigant Consulting, Inc. as financial advisor to the
Official Unsecured Creditors' Committee.

The debtor designs, manufactures and markets wireless
communication infrastructure products. The Noteholders object to
the employment of Navigant because Kahn Consulting Inc. was
approved to be retained as forensic accountants to the
Noteholders, and Kahn is responsible to examine and analyzed pre-
petition transactions of the debtor including those for which the
Unsecured creditors' Committee seeks to employ the services of
Navigant.  Retention of Navigant will unnecessarily duplicate
services proposed to be performed by Kahn, and the Noteholders
claim that given the disparity between the claims represented by
the Committee and the Official Unsecured Creditors' Committee,
due regard should be paid to the preferences of the larger
stakeholders.  Scheduled claims of general unsecured creditors,
not including the claims of Noteholders total slightly more than
$2.9 million.  Claims of noteholders in this case arise as a
result of a certain Indenture between FWT and Norwest Bank
Minnesota, which authorized the issuance of up to $125 million
aggregate principal amount of 9 7/8% Senior Subordinate Notes  
due 2007, of which amount $105 million aggregate principal amount
was issued in the initial offering.

FWT,INC: Court Approves Chanin & Company
By order dated September 21, 1999, the US Bankruptcy Court for
the Northern District of Texas, Fort Worth Division entered an
order authorizing the Noteholders Committee to retain and employ
Chanin and Company LLC as its financial advisors.

GOSS GRAPHIC: Seeks Extension To Assume/Reject Leases
The debtors, Goss Graphic Systems, Inc. et al. seek an extension
of time to assume or reject unexpired leases of nonresidential
real property.  A hearing on the motion will be held on October
19, 1999 at 3:30 PM.

The debtors have filed their plan, which contemplates a decision
by the debtors with respect to the assumption or rejection of all
of the debtors' unexpired leases.  The debtors believe that
additional time will permit further dialogue with the Committee
and their creditors and thereby enhance the prospects for the
confirmation of the plan.  The extension sought would be for a
period up to and including the latter of the Effective Date of
the plan or December 29, 1999.

GENESIS DIRECT: Applies for Authority To Employ Arthur Andersen
The debtors, Genesis Direct, Inc., et al. seek approval to employ
Arthur Andersen LLP as accountants to the debtors.  Arthur
Andersen LLP, if approved, will undertake the performance of
certain accounting functions for the debtors, including review
and updating the debtors' books and records, analyzing the
profitability and tax consequences of various properties,
preparing audited financials, preparation of tax and other
filings required by the SEC, preparation of required tax returns
and monthly reports, attending meetings with the Creditors'
Committee and other parties-in-interest and assisting the debtors
in formulating a plan of reorganization.

HAITAI BEVERAGE: To Be sold To Clarion Capital in Hong Kong
South Korea's Haitai Beverage Co will be sold to Clarion Capital,
an investment firm operating out of Hong Kong, concluding the
problems of the bankrupt Haitai Group which have been dragging on
since November 1997. The announcement was made by the Cho Hung
Bank (KSE: 00010), the main creditor for the group. The bank said
the sale contract would be signed at the bank's head office in
Seoul Wednesday, after wrapping up the last round of sale
negotiations with Clarion. Clarion will pay 308.9 billion won
(US$255.2 million), including 246.3 billion won for Haitai's
assets, 22.7 billion won for debts related to commercial deals
and 39.9 billion won for severance pay for employees.

HARVARD INDUSTRIES: Future Operations Vital To Survival
Harvard Industries Inc. reports sales decreased $39,326 from
$169,234 in the pre-confirmation quarter ended June 30, 1998, to
$129,908, or down 23.2%, in the post-confirmation quarter ended
June 30, 1999.  Aggregate sales for the operations designated for
sale or wind down decreased approximately $45,045 from $50,541 to
$5,496 as the company's divestiture program as contemplated under
the its Plan of Reorganization nears completion. Sales for the
remaining operations increased $5,719 from $118,693 to $124,412
as strong light truck demand was partially offset by the wind
down of older programs.  The net loss increased from $7,313 in
the pre-confirmation quarter ended June 30, 1998 to $14,613 in
the post-confirmation quarter ended June 30,1999.

The company emerged from Chapter 11 on November 24, 1998, repaid
the DIP Facility, the Post-Petition Term Loan, and issued $25,000
of Senior Secured Notes and entered into a $115,000 Senior Credit
facility. The company had borrowing availability of approximately
$43,500 as of June 30, 1999. Management says it anticipates
having sufficient liquidity to conduct its activities in fiscal
1999 as result of the borrowing availability provided
by these facilities.

Continuation of the company's business after reorganization,
however, is dependent upon the success of future operations,
including execution of the company's turnaround business strategy
and the ability to meet obligations as they become due. Harvard
Industries had suffered recurring losses from operations and at
June 30, 1999 had a net working capital deficit.  These
factors among others have raised substantial doubt about the
company's ability to achieve successful future operations.

HUMANA: Transfers Operations of Eight Former FPA Medical Centers
Humana Inc. (NYSE: HUM) has entered into partnership with
Physicians Group Services, Inc. to operate eight North Florida
medical centers formerly operated by FPA Medical Management Inc.

The agreement was effective Sept. 1.  Terms were not disclosed.

Humana assumed operational responsibility for 50 former FPA
centers June 1 as part of an agreement with FPA, approved by the
federal bankruptcy court overseeing FPA's Chapter 11

Since then, as a result of this and similar transactions over the
past several weeks, Humana no longer operates 29 of the 50
centers. The transactions are consistent with Humana's intention
to transfer operation of all the former FPA centers to other
provider groups, enabling Humana to focus exclusively on its core
business of health insurance.

Humana assumed operational responsibility for the 50 centers to
ensure continuity of care for 121,000 Humana health plan members
in South Florida, Kansas City, San Antonio, Orlando, Tampa, Ocala
and Jacksonville.  The eight North Florida centers serve 10,000
Humana members in Jacksonville and Ocala.

Physicians Group Services is comprised of 18 North Florida
doctors who serve as its board of directors.  Seven of the
medical centers, all in Jacksonville, will operate under the name
Family Medical Centers.  The eighth center, in Ocala, will be
named Skylark Medical Center.

"Humana's number one priority is the health of our members," said
Marshall Austin, executive director for Humana's
Jacksonville/North Florida market. "The new partners have agreed
to maintain the eight medical center locations for the members'
convenience and continuity of care, as well as assume
the physicians and staff and Humana's disease management

In explaining Humana's decision to assume operational authority
for the 50 former FPA centers in June, Senior Vice President Mike
McCallister said, "Humana wanted to solidify and stabilize the
relationship between physicians and members and therefore
eliminate the uncertainty related to the FPA bankruptcy process.
Now that we've done so, we are successfully transferring
operational responsibility for the centers to provider groups
with a proven ability to offer our members high-quality care."

Humana provides health insurance products and services to 1.3
million Floridians.

Humana Inc., headquartered in Louisville, Ky., is one of the
nation's largest publicly traded managed health care companies
with approximately 6.1 million medical members located primarily
in 15 states and Puerto Rico. Humana offers coordinated health
care through a variety of plans -- health maintenance
organizations, preferred provider organizations, point of service
plans and administrative service products -- to employer groups,
government- sponsored plans and individuals.

HURRICANE HYDROCARBONS: Files Plan of Compromise and Arrangement
Hurricane Hydrocarbons Ltd. ("Hurricane") today filed a Plan of
Compromise and Arrangement in the Court of Queen's Bench
of Alberta.  Under the Plan, Hurricane's accepted creditors other
than noteholders will receive payment of the principal amount of
their claims in three equal installments payable 60, 90 and 120
days following the date on which the Plan is implemented (the
"Plan Implementation Date"). Those creditors with accepted claims
under US$ 5,000 will be repaid their claims on the Plan
Implementation Date.

Noteholders will receive payment of all unpaid interest on that
date which is the earlier of 270 days after the Plan
Implementation Date and the later of March 31, 2000 and 30 days
after the closing of a merger with OAO Shymkentnefteorgsyntez
("ShNOS").  In addition, certain amendments will be made to the
outstanding notes including a waiver of all defaults which have
occurred to date.  The notes will then be reinstated with their
original maturity dates and interest rates.

Hurricane had previously proposed a Plan which would have seen
Hurricane's outstanding debts converted to equity. The new Plan,
which maintains the debt substantially intact, is made possible
by the recent improvement in Hurricane's financial condition and

The Plan does not affect any changes to the holdings of the
current shareholders. An application will be made to the court at
a later date to set the creditor classes entitled to vote on the
plan and to set the meeting dates. In order to continue the
protection afforded by the Companies' Creditors Arrangements Act,
("CCAA"), while the Plan is being considered, Hurricane
and its wholly owned subsidiary, Hurricane Overseas Services Inc.
were granted an extension to the existing CCAA Order until
October 29, 1999.

Hurricane has also been advised that the NASDAQ panel has
delisted the Company's securities from the Nasdaq Stock Market
effective with the close of business on Friday, September 24,
1999. Hurricane's stock had been suspended since May 14, 1999.
U.S. investors wishing to trade in Hurricane's shares can
still do so on either the Toronto, Alberta, Frankfurt or Berlin

As well, Hurricane's Kazakhstan subsidiary, Hurricane Kumkol
Munai, has successfully executed all new marketing agreements
which it entered into with ShNOS last week via an agreement in
principle. Details of these contracts were announced on September
23, 1999.

Hurricane's shares are traded on the Alberta and Toronto Stock
Exchanges under the symbol HHL.A and its website can be accessed

INTERNATIONAL TOURIST: Annual Meeting Set For October 16, 1999
Stockholders of International Tourist Entertainment are invited
to attend a special meeting of stockholders to be held on
Saturday, October 16, 1999, at 12:30 p.m. local time, in the
"Remember When Theater" at the company's facility at 3562
Shepherd of the Hills Expressway, Branson, Missouri
65616.  Stockholders will hear a report with respect to the
progress of the company and have an opportunity to ask questions.

Additionally the stockholders will be asked to adopt and approve
an agreement and plan of merger in which the domicile of ITEC
Attractions will be changed from the U.S. Virgin Islands to the
State of Nevada; to ratify the selection by the Board of Tanner &
Company as independent auditors of ITEC Attractions for the
fiscal year ending December 31, 1999; and to transact such other
business as may  properly come before the meeting.

The Board has fixed the close of business on Tuesday, September
7, 1999, as the record date for determining the stockholders
entitled to notice of, and to vote at, the meeting.  

IONICA PLC: Motion To Dismiss Case
In the case of Ionica PLC, debtor, Ionica Group plc ("Group") is
seeking to dismiss the Chapter 11 case with prejudice.  Group is
the parent corporation and a substantial secured and unsecured
creditor of Ionica, the debtor.  Group owns all of the
outstanding shares of Ionica and is owed in excess of BR$85
million by Ionica.  Group states that at or about the time of the
commencement of the Chapter 11 case, it was abundantly clear that
a "stabilization" of Ionica's business and a "financial
restructuring" in the context of an ongoing business was neither
contemplated nor even a remote possibility.

Three days after the case was filed, the PWC Joint Administrators
finalized an agreement with British Telecommunications pursuant
to which all of Ionica's customers who desired to have their
telephone service transferred to BT could do so over a period of
time, the first step in the liquidation of Ionica's business
operations. According to Group, the only activity in the case has
focused on the retention of the Cadwalader firm, and other than
one creditor and the indenture trustee, the members of the
creditors' committee reside in the UK.  Group states that there
is no contact with the US, and there is no business transacted or
economic interest in the US.  Group alleges that the case was
filed without good faith, and that the debtor never intended to

LONDON FOG: Files for Chapter 11 Protection  
London Fog Industries, an international leader in rainwear and
outerwear, today announced that it has initiated a significant
operational and financial restructuring which includes a major
shift away from direct retail with a focus on the Company's major
wholesale brands, London Fog(R), Pacific Trail(R), Black Dot(R)
and Towne(R), as well as licensed brands, Dockers(R) and
Levi's(R).  To implement its plan, London Fog Industries has
commenced a Chapter 11 reorganization proceeding for London Fog
and its wholly-owned subsidiary, Pacific Trail, Inc.

"London Fog Industries' previous strategy was to compete in the
direct retail sector.  Substantial resources of time, talent and
money were expended on this retail strategy for the past four
years," said William Dragon, Jr., President and Chief Executive
Officer of London Fog Industries.

"Since I assumed the role as CEO in March of this year," said Mr.
Dragon, "we have reassessed this initiative and have concluded
that we should not be competing directly with our retail
partners.  As well, the Company simply has too much debt.  We
believe that a Chapter proceeding provides an effective base for
the restructuring of our debt and the elimination of
unprofitable retail stores."

The Company, which announced that it has secured a $130 million
financing commitment from Congress Financial Corporation to
address the Company's liquidity needs in Chapter 11, also
reported that it has made significant progress in negotiating a
debt for equity exchange with its senior bondholders.  The
Company's bondholders have expressed support for the Company's
action and support for a restructuring plan, which, among
other things, contemplates the conversion of a substantial amount
of bondholder debt to equity.

"We are pleased that our senior lenders and bondholders support
our financial restructuring efforts and the Company's new
business strategy," added Mr. Dragon.  "With their support, we
expect to continue our efforts to market and distribute our
quality rainwear and outerwear, on an uninterrupted basis, and to
emerge from the reorganization proceedings in early 2000 with a
substantially strengthened balance sheet."

Established in 1922, London Fog Industries, Inc. is one of the
country's leading designers, marketers and distributors of
quality men's and women's rainwear and outerwear.  Headquartered
in Eldersburg, Maryland, the Company also has offices in Seattle
and New York.  The Company employs about 1,500 workers and
currently operates more than 140 retail stores throughout the
United States and Puerto Rico.  The Company's annual sales
are approximately $300 million.

MOLTEN METAL: Chapter 11 Trustee Taps Special Counsel
Stephen S. Gray, Chapter 11 Trustee, requests that this court
enter an order authorizing the Trustee to employ Thomas Hoffman
and the law firm of Greene and Hoffman as special counsel to the
Trustee.  The basis for employment of G&H concerns potential non-
bankruptcy claims and causes of action against certain officers
and directors or former officers and directors of the above-
referenced debtors Molten Metal Technology, Inc. and its
affiliated debtors.  The Trustee believes that due to the
magnitude of the pre-and post-petition losses, the pattern of
behavior suggests the presence of potential actionable breaches
of fiduciary responsibility to the debtors and to the creditors
of the Estates.  The Trustee has learned of a pattern of insider
trading and the Trustee believes that the debtors may have a
cause of action against the insiders for the millions of dollars
of profits from the sale of the stock of such insiders. The
Trustee is also questioning several payments all to the benefit
of offices and directors of the company, and the Trustee is
concerned by what he terms the general mismanagement of the
company.  G&H will bill the Trustee its current hourly rate
ranging from $250/hour for partners' time to $150/hour for
associates' time, with a maximum total billing of $15,000.

NEUROMEDICAL SYSTEMS: Monthly Figures Show Net Losses
Having previously filed for bankruptcy Neuromedical Systems Inc.,
in making its monthly financial statement reports, shows, for the
months of July and August 1999, revenues of $46,640 and $25,164
respectively.  From these revenues net losses realized were
$651,752 for the month of July and $162,567 for the month of

NEXTWAVE TELECOM: Senior Claimants To Receive Notes and Rights
On June 8, 1998, certain subsidiaries of Nextwave Telecom Inc.,
and thereafter, on December 23, 1998, the company itself, filed
petitions for relief under Chapter 11 of the Bankruptcy Code in
the United States District Court for the Southern District of New
York. Since that time the debtor companies have continued to
operate their businesses and manage their properties as debtors
in possession.

In accord with the company's first amended Joint Plan of  
Reorganization under Chapter 11 dated July 27, 1999, on the
effective date, or as promptly thereafter as practicable, the
privately placed notes and exchange rights will be issued to
Senior Claimants in full satisfaction of their claims
against all of the debtor companies.  The debtor companies are
NextWave Telecom Inc., NextWave Personal Communications Inc. and
NextWave Power Partners Inc.

POWER DESIGNS: Files Financial Information For Fiscal Year
Since its inception in 1952, Power Designs Inc. has been engaged
exclusively in the design and manufacture of electronically
controlled power sources used in the operation of electronic
equipment and mechanical instruments. The power sources produced
by the company are connected to primary sources such as
commercial power lines and serve to correct, modify
or condition the source of power where instability and electrical
noises may adversely affect the proper functioning of the end

Due to the significant operating losses sustained prior to the
suspension of the UPS/PLC product line, the company filed for
bankruptcy protection under Chapter 11 on January 22, 1998. A
plan of reorganization, outlining its initial plans to discharge
its responsibilities, was filed by the debtor in May of 1998.
Ongoing negotiations between the debtor and its various creditor
constituencies have resulted in an amended plan of
reorganization, expected to be filed by the debtor during fiscal
year 2000.

Power Designs Inc.'s sales during fiscal 1998 decreased by 28%
over fiscal year 1997, to $2,602,387 while its net loss was
$8,649,067. The seriously low manufacturing yields, as well as
the inventory obsolescence generated by the now-defunct UPS/PLC
product line are said by the company to be the key factors
inherent in this loss. In like manner product revenues which
averaged approximately $300,000 per month in fiscal year 1997,
were nearly negligible in the months immediately preceding the
company's Chapter 11 filing. Post-petition sales have averaged
approximately $260,000 per month in core product shipments.

RIGCO: Agreed Order Authorizing Use of Cash Collateral
The US Bankruptcy Court for the Southern District of Texas
entered an Agreed Order permitting the debtors to pay certain
costs and operating expenses from Cash Collateral.  The debtor is
authorized to pay actual out of pocket operating costs of
$543,800 for the month of October, 1999, and the remaining
unspent amount of the debtors' budget incorporated in the Second
Interim Order granting a motion for order authorizing use of cash
collateral plus an additional expense line item of $17,000.  The
debtor is also authorized to pay a general and administrative
expense of not more than $167,000 and $500,000 in adequate
protection payments.

SUN TELEVISION: Reports Monthly Gains/Losses
Sun Television & Appliance Inc. must file a monthly operating
report with the Office of the United States Trustee since having
previously voluntarily filed for Chapter 11 bankruptcy
protection. For the months of February, March and April 1999, the
company has reported the following revenues:  February, a
negative ($601), March, $19,447, and April, $4,998.  Net gain
for the month of March was reported as being $18,524,189, with
net losses in each successive month, $1,254,260 net loss in March
and $696,959 net loss in April.

TALK AMERICA: Application To Employ Appraiser
The debtor, Talk America, Inc., seeks authority to employ Ross
Finn and Joseph Finn Co., Inc. in order to appraise certain of
the debtor's call center assets.  Several third-party purchasers
have expressed interest in acquiring the debtor's call center
assets, including all of the tangible assets used in the
operation of a telemarketing center having inbound and outbound
capacity.  The debtor has recently filed several motions relating
to an asset purchase agreement between the debtor and
DanMark,Inc. covering the call center assets.  DMI is interested
in acquiring substantially all of the call center assets of the
debtor for not less than $2.3 million.  A motion seeking approval
of the sale has also been filed.  A current appraisal would
provide a basis to evaluate the allowed secured claims of
Paymentech and KeyCorp Leasing. Finn estimates the cost of the
appraisal not to exceed $4,500.

VENCOR:  Three More Execs Sentenced To Prison
Three more executives of a Vencor Inc. subsidiary were sentenced
to prison in Arkansas yesterday, joining a fourth who was
sentenced Thursday. The Arkansas case was the first of several
civil Medicare fraud cases pending against Louisville-based
Vencor and related companies to result in criminal convictions.

Other whistle-blower cases are pending against Vencor, according
to a recent disclosure by its sister company, Ventas Inc., which
was split off from Vencor last year. It is not known how many
such cases exist because most are still sealed by court order.

Only one other case has been unsealed: a Florida suit that
accuses Vencor of double-billing Medicare for pharmacy, therapy
and mobile radiology services provided to outside nursing homes
by its Vencare contract-services division between 1993 and 1998.
The government says Vencare billed the nursing homes and
then billed Medicare for the same services.

The government is holding Vencor and Ventas responsible for any
damages because they operated as one company until last year,
when Ventas was formed as a real estate company owning the
hospitals and nursing homes that Vencor operates.

The companies have said in financial filings that they are in
talks with the government aimed at settling all of the cases.

U.S. Department of Justice spokeswoman Chris Watney confirmed
Thursday that talks are continuing. She said any settlement will
consider the ability of the companies to pay.

Vencor filed Chapter 11 bankruptcy last week. The company has
been reeling from heavy debt, decreased Medicare reimbursements
and regulatory fines.

ZENITH: Minority Shareholders Fight Plan
Zenith Electronics Corp.'s pre-packaged Chapter 11 reorganization
faces stiff opposition from its minority shareholders as the
electronics manufacturer prepares to whisk the deal through the
bankruptcy court this week. Zenith's official committee of equity
security holders objected to the company's plan of
reorganization, the accompanying disclosure statement, and the
company's retention of financial advisor Peter J. Solomon Co.
(PJSC). The equity committee's filing does state that the pre-
packaged plan is unfair to minority shareholders, was proposed in
bad faith, is inequitable, and is premised on a valuation
prepared by a biased investment banker, PJSC. The objection adds
that PJSC's valuation is not indicative of actual value and
relies upon "misguided assumptions." The committee is preparing
its own valuation report. (The Daily Bankruptcy Review and ABI  
September 28, 1999)


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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,
Editors.  Copyright 1999. All rights reserved. ISSN 1520-9474.

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