TCR_Public/991124.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, November 24, 1999, Vol. 3, No. 228
                     
                     Headlines

AO SIDANCO: Russian Bankruptcy Case Lands in US Court
ARM FINANCIAL: 10.5% Of Common Stock Now Owned By Khalilzad
BOSTON CHICKEN: Fourth Motion To Extend Exclusivity
COHO ENERGY: Files Plan of Reorganization
COMMERCIAL FINANCIAL: Order Extends Exclusivity

CORAM RESOURCE: Seeks Order Authorizing Payment of Stay Bonuses
DOW CORNING: Motion To Acquire Brazilian Silicon Supplier
FIXCORP: To Liquidate All Operating Assets of Subsidiary FIXCOR
FORCENERGY INC: Disclosure Statement Approved
FORCENERGY INC: Order Authorizes Sale

FORMAN PETROLEUM: Needs More Time To Prepare Quarterly Report
HARBOR FINANCIAL: Seeks To Reject Certain Leases
HARNISCHFEGER: Motion To Set Bar Date
HOME HEALTH: Appoints David S. Geller Chief Executive Officer
HOUSING RETAILER: Ted Parker Seeks Bar Date

LEVITZ: Motion For Approval of Fourteenth DIP Facility Amendment
MAXICARE HEALTH PLANS: 1999 Results Show Improvement Over 1998
NU-KOTE HOLDING: Objections To Appointment of Examiner
NU-KOTE HOLDING: Objections To Disclosure Statement
PRESLEY COMPANIES: Merger Results In 1 For 5 Share Exchange

PRESLEY COMPANIES: Finalizes Asset Purchase Of William Lyon Homes
PRESLEY COMPANIES: Home Sales Up 16% In First Nine Months Of Year
SUN HEALTHCARE GROUP: Requires Additional Time To File Financials
SYRATECH CORP: Future Operation To Be Affected By Indebtedness
THERMOGENESIS: Clarification Of Annual Meeting Date

                     *********

AO SIDANCO: Russian Bankruptcy Case Lands in US Court
-----------------------------------------------------
The bankruptcy of AO Sidanco, one of Russian's largest oil
companies, has become a major fight between Russians and Western
investors, including George Soros and Harvard University.
As a result, the case has landed in a New York state court and
come to the attention of lawmakers. Harvard University Endowment
and some investment funds managed by Soros collectively own an
interest in Sidanco, The Wall Street Journal reported. A suit
filed in Manhattan accused Tyumen Oil Co., a smaller Russian oil
company, of tampering with the bankruptcy process in Russia to
gain control of Sidanco's subsidiaries and of stripping the
units' assets while under Russia's bankruptcy court protection.
The Harvard-Soros group says the New York court has jurisdiction
because Tyumen Oil is partly owned by New York resident, Leonard
Blavatnick, and two New York companies that the plaintiffs said
Blavatnick controls. Russia has only recently implemented
bankruptcy processes, and critics say that the laws are unclear
and that the courts are vulnerable to manipulation. The Harvard-
Soros group of investors say in the filing in New York that
Tyumen Oil illegally installed its managers for the Sidanco
subsidiaries by manipulating the Russian court system and that
Tyumen used transfer-pricing methods to "steal" oil revenue from
the subsidiaries. On Friday, four congressman asked the General
Accounting Office to investigate the more than $500 million in
loan guarantees Tyumen Oil is seeking from the U.S. Export-Import
Bank, citing concern that Tyumen is "unfairly-and illegally-using
Russia's bankruptcy process to acquire at absurdly low prices the
key assets of a competitor, Sidanco...which is partly owned by
American investors." (ABI 23-Nov-99)


ARM FINANCIAL: 10.5% Of Common Stock Now Owned By Khalilzad
-----------------------------------------------------------
Arm Financial Group Inc. has reported additional purchases of an
aggregate of 500,000 shares of its common stock by David
Khalilzad. Mr. Khalilzad now beneficially owns an aggregate
2,500,000 shares of common stock in the company, exercising sole
voting and dispositive power over the stock which represents
10.5% of the outstanding shares of common stock of Arm Financial
Group, Inc.

The funds used for the additional purchases consisted of the
personal funds of Khalilzad, all of which funds were not
borrowed.  The acquisition of the stock is reported to be for
investment purposes only and were acquired in open market
transactions as follows:


DATE PURCHASED    NUMBER OF SHARES PURCHASED     PURCHASE PRICE
PER SHARE
- -------------- --------------------------     ----------------
11/03/99                 50,000                         $0.0750
11/03/99                 50,000                          0.0800
11/04/99                 50,000                          0.0860
11/05/99                 15,000                          0.0900
11/08/99                195,000                          0.0930
11/09/99                 50,000                          0.0960
11/10/99                 20,000                          0.1000
11/10/99                 20,000                          0.1000
11/10/99                 10,000                          0.1000
11/11/99                 30,000                          0.0950
11/11/99                 10,000                          0.1000


BOSTON CHICKEN: Fourth Motion To Extend Exclusivity
---------------------------------------------------
To conclude negotiations with interested buyers and investors and
the closing of unprofitable restaurant locations and the
assumption and rejection of leases, to continue negotiations with
the Debtors' creditors, to address various other issues regarding
lawsuits and claims against the Debtors, and to develop a
realistic business plan and cash flow projections, Judge Case
granted the Debtors an extension until December 31, 1999 of their
exclusive period to propose plans and an extension until
March 1, 2000 of their exclusive period to obtain acceptance of
such plans.  The Committee and the 1996 Lenders retain their
right to terminate exclusivity on 10-days' notice.  Additionally,
the Debtors agree that they will not seek to extend their
exclusive periods without the prior consent of the 1996 Lenders
and the Committee. (Boston Chicken Bankruptcy News Issue 18;
Bankruptcy Creditor's Service Inc.)


COHO ENERGY: Files Plan of Reorganization
-----------------------------------------
Coho Energy, Inc. (OTC BB:COHO) announced today that the Company
has filed with the U.S. District Bankruptcy Court of the Northern
District of Texas a proposed plan of reorganization in accordance
with federal bankruptcy laws. The plan of reorganization sets
forth the means for satisfying claims, including liabilities
subject to compromise, and interests in the Company.

In general the proposed plan provides for the following
treatment:

-- Senior secured debt (which includes principal plus accrued
interest at Sept. 30, 1999 of approximately $252 million and
reasonable fees and expenses under the Company's bank credit
facility) will receive on the effective date of the plan an
initial payment of at least $27 million of principal plus all
accrued and unpaid interest and all reasonable fees and expenses.
The balance of the principal, together with interest, will be
repaid over seven years.

-- The Company's 8 7/8% Senior Unsecured Notes due 2007 with
principal of $150 million and accrued interest of approximately
$12 million will be paid in full by receiving on the effective
date of the plan 96% of new common stock of the reorganized
company.

-- Holders of existing Coho common stock will be issued the
remaining 4% of new common stock together with the right to
purchase additional new common stock on a pro rata basis for
$0.26 per share. If the approximately $75 million rights
offering is not fully taken up by existing common stockholders,
the Company will offer any unsubscribed shares in a private
placement. A standby loan of up to $ 60 million will be provided
by several of the Company's bondholders and will guarantee the
rights offering.

-- Other allowed general unsecured claims will receive cash
payments in four quarterly installments, the first of which shall
be paid on the effective date of the plan.

A commitment letter for the standby loan from several of the
bondholders will be presented to the bankruptcy court for
approval. The current terms of the bondholder standby loan
provide for payment of a minimum 15% interest rate with
additional interest payable after the second year that will
escalate 2% for every whole dollar that the weighted average of
the daily closing contract price for NYMEX crude oil for non-
hedged production and the benchmark oil price received by the
Company for hedged production exceeds $18 per barrel, up to a
maximum interest rate of 25%. If the Company draws on the standby
loan the lenders will be entitled to a pro rata share, based on
the amount drawn, of an additional 15% of the shares of new
common stock.

Contemporaneous with the filing of the plan, the Company has
sought Bankruptcy court approval of procedures whereby other
parties interested in providing an alternate guaranteed facility
on more favorable terms may offer binding commitments.

The consummation of a plan of reorganization will require
bankruptcy court approval and is expected to be voted on by the
Company's creditors and shareholders entitled to vote. At this
time, no assurances can be given that the plan of reorganization
submitted by the Company will be approved or when the effective
date of the plan will be set; however, at the present time, the
Company anticipates that a hearing to consider its plan will be
scheduled in February 2000. In addition it is not possible to
predict the outcome of the bankruptcy proceedings, in general, or
the effect on the business of the Company or on the interests of
creditors or stockholders.

Coho Energy, Inc., is a Dallas-based oil and gas producer
focusing on exploitation of underdeveloped oil properties in
Oklahoma and Mississippi.


COMMERCIAL FINANCIAL: Order Extends Exclusivity
-----------------------------------------------
The US Bankruptcy Court for the Northern District of Oklahoma
entered an order on November 16, 1999 approving the debtors'
motion for an extension of exclusivity retroactive to September
30, 1999.  The periods for CFS and NGU to file their plans of
reorganization are extended until and including December 31,
1999.

The exclusive periods for CFS and NGU to solicit acceptances to
their plans of reorganization are extended until and including
March 1, 2000.


CORAM RESOURCE: Seeks Order Authorizing Payment of Stay Bonuses
---------------------------------------------------------------
In an effort to facilitate the wind-down of the debtors'
businesses, the debtors believe that it is crucial to provide
certain employees with incentives to ensure that these employees
remain with the debtors throughout the duration of the wind-down
process.  Therefore, the debtors seek approval of the payment of
retention or "stay" bonuses to 130 employees. The aggregate cost
is estimated at $345,000.


DOW CORNING: Motion To Acquire Brazilian Silicon Supplier
---------------------------------------------------------
Companhia Brasileira Carbureto de Calcio is a Brazilian company
that produces raw silicon metal and ferror silicon at two
facilities located in Santos Dumont and Cabangu, Brazil.  For
$55,000,000, DCC's wholly-owned Dow Corning Silicon Metals do
Brasil S.A. subsidiary proposes to acquire at least 99.8%
ownership of the producer from Solvay do Brasil Limitada, owned
by Solvay S.A. of Belgium.  To facilitate the transaction, Dow
Corning will form, organize and capitalize a new Brazilian
company --Cabangu Holding -- with $2,000,000.  

The Debtor explains to Judge Spector that this transaction will
enable Dow Corning to integrate a reliable source of silicon
metal into its business, thereby reducing the cost of acquiring
that key raw material and enhancing profits.  

The Debtor intends to use its free cash or cash from its
subsidiaries to complete the transaction.  In the event that cash
uses will impair the Debtor's ability to perform its funding
obligations under the Joint Plan, the Debtor will obtain third-
party financing.

The Debtor will present its Motion to Judge Spector for approval
on December 2, 1999.  The Debtor indicates that it anticipates
obtaining the full support of the Official Committees before that
hearing.  (Dow Corning Bankruptcy News Issue 71; Bankruptcy
Creditor's News Service Inc.)


FIXCORP: To Liquidate All Operating Assets of Subsidiary FIXCOR
---------------------------------------------------------------
Fix-Corp International Inc. (the "company") (OTCBB:FIXC), which
on Feb. 17, 1999 commenced a reorganization case under Chapter 11
of the Bankruptcy Code, announces that it will be requesting
Bankruptcy Court approval to sell and otherwise liquidate all
operating assets of its wholly owned subsidiary FIXCOR
Industries Inc.

On Oct. 15, 1999 FIXCOR, itself a debtor under Chapter 11 of the
Bankruptcy Code, suspended its manufacturing operations.  On Dec.
13, 1999 the Bankruptcy Court in Columbus, Ohio will conduct a
hearing to consider approval of such asset sale.

Upon completion of the sale of FIXCOR's operating assets, the
company intends to liquidate all of its and FIXCOR's remaining
assets. The company does not expect that funds realized from such
liquidations will yield a distribution to stockholders.


FORCENERGY INC: Disclosure Statement Approved
---------------------------------------------
Forcenergy Inc (OTCBB:FENYQ) announced that the First Amended
Joint Disclosure Statement for the Company's Plan of
Reorganization (the "Plan") was approved on October 22, 1999 by
the United States Bankruptcy Court for the Eastern District of
Louisiana.

A confirmation hearing is scheduled on December 13, 1999.  On
November 16, 1999 the Bankruptcy Court extended the time period
for which only the Company has the exclusive right to file a plan
of reorganization. No other Plan has been submitted or can be
submitted during the Company's exclusivity period.

The Plan and ballots for voting to accept or reject the Plan have
been distributed to creditors and shareholders. The current
deadline for voting requires that ballots actually be received
prior to November 30, 1999 at 5:00 p.m. central standard time.
Additional Plan packages are available from Andrews & Kurth
L.L.P. and may be requested by fax at 713/220-4285, Attention Ali
Gallegos.

Forcenergy Inc is an independent oil and gas company engaged in
the exploration, acquisition, development, exploitation and
production of oil and natural gas. Forcenergy's primary areas of
operation are the Gulf of Mexico and Cook Inlet, Alaska.


FORCENERGY INC: Order Authorizes Sale
-------------------------------------
THE US Bankruptcy Court, Eastern District of Louisiana entered an
order on October 21, 1999, approving that certain Purchase and
Sale agreement between Forcenergy, Inc., debtor, Hilcorp Energy
LP and Sierra Mineral Development LC. covering certain oil and
gas properties in Louisiana and Texas.  The purchase price is
$6,086,000, subject to certain adjustments.


FORMAN PETROLEUM: Needs More Time To Prepare Quarterly Report
-------------------------------------------------------------
On August 6, 1999, Forman Petroleum Corporation filed a voluntary
petition for relief under Chapter 11 of the United States
Bankruptcy Code in the United States Bankruptcy Court for the
Eastern District of Louisiana.  The company says that due to the
significant administrative burdens imposed in connection with the
filing of the Chapter 11 petition and complying with the
requirements of the Bankruptcy Court in that proceeding, it will
be requiring additional time to prepare the quarterly report for
the period ended September 30, 1999.


HARBOR FINANCIAL: Seeks To Reject Certain Leases
------------------------------------------------
Harbor Financial Group, Inc. and its affiliates seek authority to
reject 35 certain leases.

Prior to the Petition Date, the debtors either ceased operations
at these locations or are in the process of winding down their
operations at them.  As a result, the debtors believe it is in
the best interest of the debtors' estates and their creditors to
reject the leases.


HARNISCHFEGER: Motion To Set Bar Date
-------------------------------------
To flush-out all pre-petition claims against their estates and
obtain reasonable estimates of the aggregate amount of creditors'
claims, the Debtors ask Judge Walsh, pursuant to Rule 3003(c)(3)
of the Federal Rules of Bankruptcy Procedure, to establish a
deadlines by which all creditors must file proofs of claim.  

The Debtors propose that February 29, 2000, at 4:00 p.m. Eastern
Standard Time, be established as the General Bar Date.  The
Debtors propose that the General Bar Date apply to all creditors
(including vendors with whom the Debtors have done business
within 18 months prior to the Petition Date, employees and
unions, customers who have done business with the Debtors
within 5 years prior to the Petition Date, parties to any
litigation and their counsel of record, current insurance
carriers and carriers providing coverage within 10 years prior to
the Petition Date, former and current directors, lenders and
accounts-payable creditors, co-debtors, taxing authorities, and
debtor and non-debtor affiliates) except:

(1) creditors who have previously-filed their proofs of claim;

(2) creditors who agree with the way the Debtors will schedule
their claims;

(3) claims previously allowed or paid pursuant to a Court order;

(4) claims allowable under 11 U.S.C. Sec. 507(a)(1) as expenses
of administration.

and request that any creditor who fails to timely file a proof of
claim be forever barred, estopped and enjoined from asserting a
claim in excess of any scheduled claim.  

The Debtors make no special provision for creditor's claims which
may arise on account of the rejection of an executory contract.

The Debtors make it clear that separate proofs of claims must be
filed against each Debtor entity against which a creditor assert
a claim.  

The Debtors propose to serve copies of the Bar Date Order and
customized proof of claim forms on every known creditor, allow a
60 day period for creditors to file their proofs of claim, and
require that claim forms be returned to Poorman-Douglas
Corporation in Portland, Oregon, for processing.  Additionally,
the Debtors propose to publish notice of the bar date in all
editions of The Wall Street Journal, USA Today, leading
European, Asian and Latin American newspapers as well as a
variety of industry-specific trade publications.  (Harnischfeger
Bankruptcy News Issue 16; Bankruptcy Creditor's Service Inc.)


HOME HEALTH: Appoints David S. Geller Chief Executive Officer
-------------------------------------------------------------
Home Health Corporation of America, Inc. (OTC Bulletin Board:
HHCAC) announced that the U.S. Bankruptcy Court has entered an
order approving the appointment of David S. Geller as President
and Chief Executive Officer. Previously Mr. Geller was President
and Interim Chief Executive Officer.  G. Michael Bellenghi, an
outside Director, remains Chairman of the Board of Directors.  
Home Health Corporation of America is currently operating under
the protection of Chapter 11 of the U.S. Bankruptcy Code.

"We continue to work hard to draft a Plan of Reorganization that
will allow us to emerge from Chapter 11," stated Mr. Geller.  "We
are hopeful that our recent restructuring efforts have positioned
HHCA for future success."

Home Health Corporation of America, Inc. is a leading provider of
home health care services and products, delivering nursing and
related patient services, respiratory therapy services and
durable medical equipment.  The Company currently owns and
operates 20 branch locations in Pennsylvania, Delaware, Maryland,
Florida, New Hampshire and Massachusetts.


HOUSING RETAILER: Ted Parker Seeks Bar Date
-------------------------------------------
Ted Parker Home Sales, Inc. and Carolina Home Sales, Inc.,
debtors, seek an order establishing a date by which proofs of
claim and proofs of interest must be filed.  The debtors seek an
order fixing December 31, 1999 as the last day for the filing of
proofs of claim against the debtors.


LEVITZ: Motion For Approval of Fourteenth DIP Facility Amendment
----------------------------------------------------------------
"To facilitate their offering of services in the State of
Massachusetts," the Debtors say that they need to form and
organize a Massachusetts corporation.  The entity will be known
as Levitz Furniture of Massachusetts, Inc.  LFMI will be a
subsidiary of the Debtors but the newly-formed entity will not
join the Debtors in their chapter 11 filings.

Because the DIP Facility prohibits the creation of new
subsidiaries, the Debtors asked the DIP Lenders for their consent
and a waiver of that covenant.  Fine, the DIP Lenders say,
provided that LFMI is joined as a borrower under the DIP Credit
Agreement.  

Accordingly, by this Motion, the Debtors ask Judge Walrath for
permission to enter into a 14th Amendment to the DIP Facility
providing that (i) the Debtors are permitted to form and organize
LFMI and (ii) LFMI will become a borrower under the DIP Credit
Agreement.  The DIP Lenders, the Debtors note, agree to the 14th
Amendment without charging any fees to their estates.  

BT Commercial Corporation continues to serve as the Agent for the
DIP Lenders.  The consortium of Revolving Lenders is currently
comprised of (a) BT Commercial Corporation; (b) Finova Capital
Corporation; (c) Heller Financial, Inc.; (d) LaSalle Bank
National Association; (e) TransAmerica Business Credit
Corporation; and (f) GMAC Business Credit L.L.C.  M.D. Sass
Corporate Resurgence Partners, L.P., extends credit in its
continued capacity as the Overadvance Term Lender. (Levitz
Bankruptcy News Issue 40; Bankruptcy Creditor's Service Inc.)


MAXICARE HEALTH PLANS: 1999 Results Show Improvement Over 1998
--------------------------------------------------------------
In the first quarter of 1999, Maxicare Health Plans Inc. incurred
charges of $3.0 million for loss contracts associated with the
company's commercial healthcare operations in North and South
Carolina.  The company ceased offering commercial health care
coverage in the Carolinas health plans beyond March 1999.  The
company recorded, in the first quarter of 1999, a $5.5 million
management settlement charge related to  a settlement with the
company's Chief Executive Officer, Peter J. Ratican in which Mr.
Ratican terminated his employment agreement, retired as President
and CEO of the company and did not seek re-election to the Board
of Directors.

The company had a net loss of $5.4 million for the nine months
ended September 30, 1999, which included an $8.5 million charge
for the loss contracts and management settlement costs and $4.1
million of other income from a litigation settlement as compared
to a net loss of $21.8 million for the comparable period a year
ago, which included a $10.0 million charge for loss contracts and
divestiture costs related to health plans identified for
disposition.  The net revenues for the periods were $533.0
million and $557.7 million respectively.

Maxicare Health Plans Inc. reported net income of $1.3 million
for the three months ended September 30, 1999, compared to net
income of $.6 million for the same three month period in 1998.  
The net income was realized on net revenues of $178.1 million and
$188.6 million respectively.


NU-KOTE HOLDING: Objections To Appointment of Examiner
------------------------------------------------------
Bank of America NA for itself as agent and a bank group of
lenders object to the motion of securities claimants for the
appointment of an Examiner.  The lenders state that the
creditors' joint plan provides   for a litigation trust that will
include the types of claims that the Examiner Motion seeks to
have reviewed.  The lenders expressly do not consent to the use
of their cash collateral for the payment of an Examiner.  
Accordingly, the lenders state that there are no unencumbered
assets in the estate to pay the cost and expenses of an Examiner.

At this stage in the case, the lenders say that an Examiner
should not be appointed, but rather, the creditors joint plan
should proceed to confirmation.


NU-KOTE HOLDING: Objections To Disclosure Statement
---------------------------------------------------
Bank of America, NA and as agent for a lender group object to Nu-
Kote's Disclosure Statement.  The lenders submit that the debtor
plan should be denied confirmation due to improper gratuitous
releases in favor of the debtor's existing officers and
directors; improper classification of unsecured claims in an
attempt to gerrymander the vote on the debtor plan; improper
treatment of the lenders' claims; and a clear lack of
feasibility. The lenders are a co-proponent of the creditors'
plan, which they favor.


PRESLEY COMPANIES: Merger Results In 1 For 5 Share Exchange
-------------------------------------------------------------
The Presley Companies, formerly known as Presley Merger Sub, Inc.
has been merged with its parent corporation. In the merger,
Presley Merger Sub, Inc. was the surviving corporation and was
renamed "The Presley Companies" which had been the name of its
parent prior to the merger. As a result, the subsidiary is the
successor entity and assumed all of the assets,
liabilities and business of its parent.

The merger had a 1 for 5 exchange ratio and as a result of the
merger, each 5 shares of Series A common stock and Series B
common stock of the parent was converted into 1 share of the
surviving corporation. As a result of the exchange ratio in the
merger, the 52,195,678 shares of Series A common stock and the
Series B common stock of The Presley Companies that were
outstanding on the close of business on November 10, 1999 were
converted into 10,439,135 shares of common stock of the surviving
corporation at the effective time, 12:01 a.m. on November 11,
1999. Shares of the new common stock are listed on the New York
Stock Exchange under the symbol "PDC".

The Presley Companies is one of the oldest and largest
homebuilders in the Southwest with development communities in
California, Arizona, New Mexico and Nevada. Founded in 1956, The
Presley Companies has built and sold more than 48,000 homes and
currently has 38 sales locations. Presley's corporate
headquarters are located in Newport Beach, California.


PRESLEY COMPANIES: Finalizes Asset Purchase Of William Lyon Homes
-----------------------------------------------------------------
The Presley Companies has closed the asset purchase in accordance
with the purchase agreement, dated October 7, 1999, with William
Lyon Homes, Inc., William Lyon and his son, William H. Lyon.  
Presley, through its
subsidiaries and limited liability companies, purchased
substantially all of the assets of William Lyon Homes for a cash
purchase price of approximately $43 million and the assumption of
substantially all of the liabilities of William Lyon Homes.

At a special meeting of stockholders Presley's stockholders voted
to approve the merger of Presley with and into a wholly-owned
subsidiary.  In the merger, the subsidiary will be the surviving
corporation and will be renamed "The Presley Companies". Subject
to the satisfaction of certain conditions, the merger was
expected to be effective on November 11, 1999. At the effective
time of the merger, each outstanding share of Series A
common stock and Series B common stock of Presley was to be
converted into 0.2 share of the surviving corporation. Shares of
the surviving corporation will be listed on the New York Stock
Exchange under the symbol "PDC".

Shares issued in the merger will be subject to certain transfer
restrictions similar to those adopted by several other public
companies and are intended to help preserve Presley's substantial
net operating loss carryforwards for use in offsetting future
taxable income. In general, these restrictions will prohibit,
without the prior approval of the board of directors, the direct
or indirect disposition or acquisition of any stock of the
surviving corporation by or to any holder who owns or would so
own upon the acquisition (either directly or through the tax
attribution rules) 5% or more of the surviving corporation's
stock.


PRESLEY COMPANIES: Home Sales Up 16% In First Nine Months Of Year
-----------------------------------------------------------------
Presley Companies reports net income for the third quarter ended
September 30, 1999 of $10,720,000 on sales of $88,363,000, as
compared with net income of $3,299,000 on sales of $89,509,000
for the comparable period a year ago.  Sales of homes were
$87,630,000 for the quarter ended September 30, 1999, down 2
percent from $89,319,000 for the comparable period a year ago.  
Sales of lots and land were $733,000 for the quarter ended
September 30, 1999, as compared with $190,000 for the quarter
ended September 30, 1998.

For the nine months ended September 30, 1999, the company
reported net income of $25,593,000 on sales of $266,375,000, as
compared with a net income of $1,214,000 on sales of $236,517,000
for the comparable period a year ago.  Sales of homes were
$261,686,000 for the nine months ended September 30, 1999, up 16
percent from $225,592,000 for the comparable period a year ago.  
Sales of lots and land were $4,689,000 for the nine months ended
September 30, 1999, as compared with $10,925,000 for the nine
months ended September 30, 1998. The results for the nine months
ended September 30, 1999 included an extraordinary gain from the
retirement of debt of $1,789,000 after applicable income taxes,
as compared with $522,000 after applicable income taxes, for the
comparable period a year ago.


SUN HEALTHCARE GROUP: Requires Additional Time To File Financials
-----------------------------------------------------------------
Sun Healthcare Group, Inc. requires additional time to file its
financial reports with the Securities & Exchange Commission as a
result of the filing of voluntary petitions by the company and
its U.S.  operating subsidiaries for protection under Chapter 11
of the U. S. Bankruptcy Code with the U. S. Bankruptcy Court for
the District of Delaware.

Sun Healthcare Group, Inc. will be reporting a loss for the
quarter ended September 30, 1999.  Specific information will be
contained in the its financial reports for the quarter ended
September 30, 1999, once they have been filed.


SYRATECH CORP: Future Operation To Be Affected By Indebtedness
--------------------------------------------------------------
Net sales of the Syratech Corportation increased 7.6% to $112.6
million for the three months ended September 30, 1999 from $104.6
million for the three months ended September 30, 1998. Higher
sales of candle items and increased sales of licensed giftware
products to specialty retailers was partially offset by lower
sales of certain seasonal products. The corporation
experienced a net income in the 1999 quarter of $5.3 million as
opposed to a net income in the same quarter of 1998 when net
income was $4.9 million.

Net sales increased 6.9% to $197.4 million for the nine months
ended September 30, 1999 from $184.6 million for the nine months
ended September 30, 1998. A net loss, of $6.5 million, was seen
for the nine months ended September 30, 1999, as was seen in the
1998 same period when net loss was $7.2 million.

The company's present level of indebtedness will have several
important effects on its future operations, including (i) a
substantial portion of the company's cash flow from operations
must be dedicated to the payment of interest on its indebtedness
and will not be available for other purposes, (ii) covenants
contained in the Revolving Credit Facility and the indenture
governing the notes will require the company to meet certain
financial tests, and other restrictions may limit its ability to
borrow funds or to dispose of assets and may affect the company's
flexibility in planning for, and reacting to, changes in its
business including possible acquisition activities, and (iii) the
company's ability to obtain additional financing in the future
for working capital, capital expenditures, acquisitions,
general corporate purposes or other purposes may be impaired.

The company has entered into an agreement for the sale of its
Revere, Massachusetts warehouse and distribution facility which
is expected to be completed during the fourth quarter of 1999.
Distribution activities will continue in this facility, under a
short-term lease, until relocated.  Proceeds from the sale, after
expenses, will be used to fund capital expenditures and reduce
the company's indebtedness.


THERMOGENESIS: Clarification Of Annual Meeting Date
---------------------------------------------------
On November 8, 1999, Thermogenesis Corporation sent a Notice of
Annual Meeting, Proxy Statement, and form of proxy to the
company's stockholders advising of the planned annual meeting to
be held at 10:00 a.m., local time, on Friday, December 10, 1999,
at The Lake Natoma Inn, located at 702 Gold Lake Drive, Folsom,
California, 95630.

The company indicates the Proxy Statement contains important
information concerning the election of the Board of Directors and
an amendment to the company's 1998 Employee Equity Incentive Plan
to increase the number of shares underlying that Plan.  
Unfortunately, some of the information contained in the Proxy
Statement inadvertently referred to inconsistent dates for the
meeting. Thermogenesis is now advising their stockholders of a
clarification it wishes to make that the annual meeting, as
stated above, will be held at 10:00 a.m., local time, on Friday,
December 10, 1999, at The Lake  Natoma Inn, located at 702 Gold
Lake Drive, Folsom, California, 95630.

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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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