TCR_Public/991213.MBX    T R O U B L E D   C O M P A N Y   R E P O R T E R
       
      Monday, December 13, 1999, Vol. 3, No. 239
                     
                     Headlines

AMERICAN FAMILY: Settles Class Action Suits
BLUE FISH CLOTHING: Files Chapter 11 Petition
BMJ MEDICAL: Order Extends Exclusivity
BRUNO'S: Confirmation Objection: W.R. Huff Asset Management
DEVLIEG-BULLARD INC: Order Approves Bar Dates

FLORIDA COAST PAPER: Disclosure Statement
FORCENERGY: Objections To Plan
GULF STATES STEEL: Amended Committee
HARNISCHFEGER: Announces New Ticker Symbol
HECHINGER: Kimco Awarded Rights to Hechinger Stores Locations

HVIDE MARINE: Court Confirms Plan Of Reorganization
INCOMNET: Postpetition Telecommunications Services Agreement
IRIDIUM: Investors Commit Funding to Ensure Service
LACLEDE STEEL: Interim Order Extends Exclusivity
MINERAL RIDGE: Vista Announces Closure of Mineral Ridge

MONDI OF AMERICA: Seeks To Reject Leases
NU-KOTE HOLDING: Files Consensual Plan of Reorganization
OPTEL INC: Taps Deloitte Consulting and Deloitte & Touche
OPTEL INC: Order Extends Time To Assume/Reject Unexpired Leases
POWER DESIGNS: Order Approves Disclosure Statement

SGL CARBON: Bayou Steel Objects To Disclosure Statement
STARTER: Order Approves Extension of Exclusivity
TRACK 'N TRAIL: Tripped Up By Bumpy Earnings
TRISM INC: Announces Court Confirmation of its Plan

                     *********

AMERICAN FAMILY: Settles Class Action Suits
-------------------------------------------
American Family Enterprises (AFE), sponsors of the American
Family Publishers sweepstakes, announced today that the United
States District Court of New Jersey has preliminarily approved an
agreement that settles the outstanding legal claims of all class
action and other private lawsuits filed against the Company.  AFE
recently filed for Chapter 11 protection in federal court in
Newark, NJ.  The decision to settle without admission of any
wrongdoing enables AFE to avoid costly and protracted litigation
by implementing a variety of consumer-oriented initiatives and
establishing a $33 million consumer fund.  The settlement
resolving the pending litigation, along with AFE's restructuring
of its finances and operations, is a key element of the company's
strategy to successfully rebuild its business and compete over
the long term.

"Our commitment to maintaining the trust and confidence of
consumers led us to address the concerns of class action
litigants and other consumer advocates," said Susan Caughman,
Chairman of AFE.  "The settlement reflects our desire to
listen and respond to issues in a constructive manner." Brian
Wolfe, AFE's President and CEO, added, "With this litigation
behind us, we look forward to the launch of a variety of new
businesses and the transformation of AFE into a stronger and more
dynamic company to serve consumers and the entire publishing
industry."

Ms. Elizabeth Cabraser, co-lead Counsel for the Plaintiffs, said
that the settlement provided substantial benefits to the Class of
consumers affected by it and also stated, "We have worked hard to
develop rules which will reform the sweepstakes business.  Our
settlement dovetails with similar measures taken by various state
Attorneys General who also took a leadership role in this
effort."  Guy Burns, co-lead counsel added, "In light of American
Family's Chapter 11 filing, we believe that this settlement is in
the best interest of its sweepstakes customers."

The settlement relates to all AFP sweepstakes mailings received
by consumers after January 20, 1992.  It provides for a consumer
fund of $33 million, including a special sweepstakes of $1
million (to be awarded in ten prizes of $ 100,000 each).  The
fund will be available to those consumers who certify through a
claims process to be implemented early next year that they
believed that purchasing magazines or merchandise was necessary
to win a prize or would enhance their chances of winning.  In
addition to the consumer fund, AFP will pay legal fees,
administrative, and notice costs associated with the settlement.

Consumers are not required to take any action at present.  As
ordered by the Court, official notice of the terms of the
settlement will begin in the first quarter of next year.  In
addition, AFE has set up a website (http://www.afpsettlement.com)
and is offering a toll-free number (1-888-469-5408) to consumers
wishing to obtain a claim form.

As an integral part of the settlement, American Family Publishers
also voluntarily agreed to changes in its mailing materials such
as:

*  Inclusion of clear and conspicuous "No Purchase Necessary"
messages in the Official Rules and the copy of the mailings;

*  Printing Official Rules in 8 point type and in such a way that
they may be retained by consumers after entering the sweepstakes;

*  Clear disclosure of the estimated odds of winning the
sweepstakes prizes in the Official Rules;

*  No representation that the recipient is a winner unless in
fact the recipient is a winner;

*  Headline copy which is clear and readily understandable;

*  No mailing of solicitations that, when viewed in their
entirety, simulate government documents;

*  Notification to consumers as to how they can be removed from
AFP's mailing lists;

*  Clarification of deadlines for returning sweepstakes entries;

*  No representation that a recipient's order history enhances
chances of winning the sweepstakes;

*  Return of all sweepstakes entries, whether or not they contain
an order, to the same city;

*  No implication that failure to respond will result in the loss
of any previously submitted entries;

*  A proactive program of communicating with frequent enterers
reminding them that no purchase is necessary to enter or win.

Brian Wolfe, President and CEO of AFE, noted that during the
reorganization AFE will continue its business of offering
consumers the lowest available magazine prices, as well as
opportunities to enter a variety of ongoing contests.  "The
Chapter 11 filing, company restructuring, and the class action
settlement, will have no impact at all on our ability to conduct
the on-going sweepstakes.  All monies for AFE's contests have
been pre-funded and are held in trust by federally-insured,
independent financial institutions until the award date.  
Consumers should be reminded that their entries into AFE's
sweepstakes are valid and all prizes, including the upcoming $10
million on January 31, 2000 will be awarded."

American Family uses sweepstakes to promote the sale of
subscriptions of over 300 magazines at publishers' lowest prices.  
Since 1977, American Family has awarded more than 300,000 prizes,
including $89 million in cash prizes. American Family is owned by
TAF Holdings Inc., a subsidiary of Time Inc., and a group of
investors.

Over the last year, American Family has taken the lead in
establishing new reforms and guidelines in the publishers
sweepstakes industry. These guidelines are known as the American
Family Promise, and says, among other things, that all entries
have an equal chance of winning and that subscriptions can be
canceled at any time and the money will be refunded for all
undelivered magazines. American Family has also established a
website (http://www.americanfamily.com)to answer consumers' most  
frequently asked questions, reiterate the sweepstakes
rules, and publish the American Family Promise.


BLUE FISH CLOTHING: Files Chapter 11 Petition
---------------------------------------------
Blue Fish Clothing Co., a maker of upscale apparel for women and
children, has filed a Chapter 11 petition to reorganize.

The sportswear maker said that in light of its excessive accounts
payable debt, its 1998 year-end loss and the acceleration of a $
3 million note with its primary secured lender, "there was
substantial risk that the company would be unable to secure
sufficient trade credit to continue production and operations,"
according to a filing with the Securities & Exchange Commission.

Robert E. Salerno, chief executive officer, told WWD the firm
primarily was hurt by expanding too fast and ran into cash-flow
problems. After Sovereign Bank, which is owed $ 1.8 million,
called in its loan in January, the firm had been unable to find a
new lender outside of bankruptcy proceedings, he said. The
company is close to reaching a deal for an equity investment.

"Operationally, the company is very healthy and business is going
very well. The filing will really help straighten out the
company," Salerno said. Blue Fish said in a recent filing that it
expected to earn $ 20,000 on sales of $ 3 million in its quarter
ended June 30 compared with an $ 891,000 loss on sales of
$ 2.3 million a year ago.

With annual volume at about $ 11 million, Blue Fish operates six
stores, and sells to more than 300 specialty boutiques as well as
Nordstrom, Neiman Marcus and the Saks Folio catalog.The products
are made of U.S. organic cotton.

Salerno, previously senior vice president at Bergdorf Goodman and
a partner at Coopers & Lybrand, joined Blue Fish in July.
Jennifer Barclay, chairman, president and founder, owns 75
percent of the company's equity. The firm went public in November
1995.

Unsecured creditors are owed about $ 700,000, according to the
filing in New Jersey's U.S. Bankruptcy court.


BMJ MEDICAL: Order Extends Exclusivity
--------------------------------------
By order entered December 1, 1999, the US Bankruptcy Court for
the District of Delaware granted an extension of the Plan
Proposal Period of the debtors, BMJ Medical Management, Inc., et
al. for 60 days, to and including January 15, 2000 and extending
the Solicitation Period for 60 days, to and including March 17,
2000.

The period within which the debtors may assume or reject the
leases shall be and hereby is, extended to and through March 17,
2000.


BRUNO'S: Confirmation Objection: W.R. Huff Asset Management
-----------------------------------------------------------
KKR and the Debtors' insiders have conducted these cases in a
manner designed to further their own interests, at the expense of
the holders of the 10-1/2 Subordinated Notes, W.R. Huff Asset
Management Co., L.L.C., asserts, as it prepares to engage in
full-scale litigation with the Debtors, the Banks and the
Committee in a contested confirmation hearing.

Bad faith, Huff suggests, is a hallmark of the Debtors' KKR-
dicated Plan.  The Plan's central feature is a series of sweeping
releases for KKR and the Debtors' insiders from liability to the
Estates for their disastrous mismanagement of the Debtors.  

Reorganized Bruno's, Huff charges, has been dramatically
undervalued for purposes of the Plan to the benefits of the Banks
and the detriment of the Subordinated Noteholders.  

Huff argues that the Plan cannot be confirmed because:

(a) The Plan fails to comply with all applicable provisions of
the Bankruptcy Code, and confirmation should be denied pursuant
to 11 U.S.C. Sec. 1129(a)(1).  Huff points to:

(i) the non-consensual third-party releases contemplated for  
KKR as violating 11 U.S.C. Sec. 524(e), based on Judge
Walrath recent explanation in In re Zenith Electronics
Corp., 1999 WL 1024452 (Bankr. D. Del. Nov. 2,
1999)(release of third-party plans against non-debtors
"cannot be accomplished without the affirmative agreement
of the creditor affected"), based on applicable Third
Circuit law;

(ii) releases granted present and former officers and
directors, management, Committee members, advisors
(including KKR), consultants and professionals and any
other insiders and other fiduciaries, asserting that they
are inconsistent with those entities' duties to the
Estates and the creditor constituencies they represent
under 11 U.S.C. Secs. 1107, 327 and 1103; and, worse,
they strip Huff of the ability to pursue KKR and other
fiduciaries for the breach of their fiduciary duty of
loyalty to the Noteholders when negotiating the terms of
the Plan;

(iii) improper exculpation of the Debtors, the Banks and The
Chase Manhattan Bank for their bad faith and abrogation of
their fiduciary duties as watchdogs for the Estates and
creditors; and

(iv) failure to comply with 11 U.S.C. Sec. 363 in respect of
the sale or distribution of Estate property under the
Plan, because Huff's rebuffed plan proposal gives value --
for the benefit of the Estates' creditors to claims -- to:

* claims against KKR;

* preference claims against the Banks;

* claims relative to the 1998 Seessel's                         
Transaction; and

* preference claims against trade creditors,
including Kraft Foods, ConAgra and FritoLay, who
serve on the Committee.  

(b) Huff argues that the Plan fails to comply with the so-called
best interests test set forth in 11 U.S.C. Sec. 1129(a)(7)
because, if Bruno's were liquidated, creditors would receive more
value on account of their claims.  Huff contends that the
Debtors' financial advisors deliberately and materially
understate the value of Reorganized Bruno's to ensure that
ownership of the Company lands with the Banks since the Banks
will support the improper releases.  Further, the Plan gives no
value to causes of action that would produce value for creditors
if pursued by a chapter 7 trustee.  Huff reminds Judge Robinson
that it has already offered to pay cash for the Estates' causes
of action.

(c) The Proponents cannot demonstrate that they proposed the Plan
in good faith, thus failing to achieve the confirmation standard
set forth in 11 U.S.C. Sec. 1129(a)(3), Huff asserts.  Huff
contends that the Plan favors KKR and other insiders over the
Debtors' creditors.

Accordingly, Huff intends to demonstrate at the Confirmation
Hearing that, in light of all the facts and circumstances of
these cases, the Plan should not be confirmed.  (Bruno's
Bankruptcy News Issue 29; Bankruptcy Creditor's Service Inc.)


DEVLIEG-BULLARD INC: Order Approves Bar Dates
---------------------------------------------
On November 24, 1999, the US Bankruptcy Court for the Northern
District of Ohio, Eastern Division, entered an order providing
that January 31, 2000 shall be the last day by which the
creditors of Devlieg-Bullard, Inc. may file their proofs of
claim.


FLORIDA COAST PAPER: Disclosure Statement
-----------------------------------------
The Plan Trust will be organized solely 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.

Summary of Classification and Treatment of Claims and Interests

Type of Claim            Estimated Amount         Treatment
-------------            ----------------         ---------
Administrative
Expense Claims             $1 M to $5M           Paid in Full

Federal Priority Tax Claims       $0                          
Other Priority Tax Claims         $9M            Paid in Full

Non-Tax Priority Claims        $300,000          Unimpaired
Noteholder Claims              $185M             Impaired
Capital Lease Claims           $0                Unimpaired
Stone Container DIP
Facility Claims               $3.745M            

- If any class of Unsecured Creditors rejects the plan, funds
shall be paid to Stone in full satisfaction of Stone claims under
the Stone Container DIP Facility.  If all classes of Unsecured
Creditors accept the plan, then all obligations of the Stone
Container DIP Facility shall be deemed satisfied in accordance
with the terms of the Stone Container DIP Facility and this plan,
and all liens and security interests granted to secure such
obligations shall be deemed terminated and shall be of no further
force and effect.

DLJ Subordinated Claims          $14M             Impaired

- Payment of $1 M if all classes accept the plan.

General Unsecured Claims          $16M             Impaired
Interests                                          Impaired


FORCENERGY: Objections To Plan
------------------------------
Sola Communications Inc. objects to the first amended joint plan
of reorganization proposed by Forcenergy Inc. and Forcenergy
Resources Inc.  Sola objects solely to the amount claimed to be
due Sola as proposed in the plan.

Apache Corporation, Pennzenergy Exploration and Production, Devon
Energy Corporation, Santa Fe/Snyder Corporation, and Union
Pacific Resource Company object to the first amended joint plan
of reorganization proposed by Forcenergy Inc. and Forcenergy
Resources Inc.  The objectors are operators pursuant to various
joint operating agreements which are to be provided treatment
under an agreed order irrespective of the plan. The objectors
object to confirmation of the plan as to the amount claimed to be
due the objectors.

North Central Oil Corporation objects to the plan in that
Forcenergy did not amend the plan to reflect the terms of the
agreed settlement between Forcenegy and North Central.


GULF STATES STEEL: Amended Committee
------------------------------------
Following the request of Hoogovens Technical Services to be
removed as a member of the Unsecured Creditors' Committee of Gulf
States Steel, Inc. of Alabama, the US Bankruptcy Administrator
recommends the appointment of the following creditors to serve as
the Unsecured Creditor's Committee:

Southern Coal and Land
Alabama Power Company
Applied Industrial Technologies, Inc.
Quebec Cartier Mining
Blue Circle Cement
Chicago Steel LLC
Video Industrial Services, Inc.
SGL Carbon Corporation
Praxair, Inc.
United Steelworkers of America


HARNISCHFEGER: Announces New Ticker Symbol
------------------------------------------
Harnischfeger Industries, Inc. (NYSE: HPH) (OTC Bulletin Board:
HRZI), which has traded as "HPH" on the New York Stock Exchange,
today announced that its stock will begin trading over the
counter under the symbol HRZI.  For more information, please
contact your broker.   Trading in Harnischfeger's stock on the
New York Stock Exchange was suspended at the close of business
December 8, 1999.

On June 7, 1999, the company and its U.S. subsidiaries filed for
reorganization under Chapter 11 of the U.S. Bankruptcy Code.

Harnischfeger Industries, Inc. (OTC Bulletin Board: HRZI) is a
global company with business segments involved in the life-cycle
management of equipment for underground mining (Joy Mining
Machinery), surface mining (P&H Mining Equipment), and pulp and
papermaking (Beloit Corporation).


HECHINGER: Kimco Awarded Rights to Hechinger Stores Locations
-------------------------------------------------------------
Kimco Realty Corp. (NYSE: KIM) today announced that it has been
awarded asset designation rights for 34 former Hechinger Stores
and Builders Square locations.  The package included six fee
simple and 28 leasehold interests located across 14 states.

The Company's bid, which was initially accepted at auction held
by the Hechinger bankrupt estate on November 29th, was approved
by the U.S. Bankruptcy Court in Delaware on December 9, 1999.  
The asset designation rights, which enable the Company to direct
the ultimate disposition of the fee or leasehold positions held
by the bankrupt estate, were utilized to facilitate the
acquisition of those positions by various national retailers. In
a prior auction held in October of this year, Kimco was awarded
designation rights for 29 sites, including three fees and 26
leasehold interests.  In total, Kimco has obtained asset
designation rights to 63 former Hechinger and Builders Square
locations.

In conjunction with the aforementioned transactions, Kimco has
reached agreements to designate 40 of the locations to various
retailers, including Home Depot, Wal-Mart, Kmart, Kohl's, and
others.  The Company will continue to market the remaining vacant
locations over the next six months, and has the ability to reject
leaseholds during that time should such marketing efforts be
unsuccessful.  Milton Cooper, Kimco's Chairman and CEO said, "We
have worked hard with the debtor, creditors, and our retail
partners to maximize the value of these sites."

Kmart is the primary lessor on certain of the properties that
were subsequently sublet to Hechinger as a result of Hechinger's
acquisition of Builders Square.  Kmart has entered into an
agreement with Kimco to share in the gross proceeds of certain of
the lease designations and will maintain approval rights on
future designation of certain other sites.

"Our Kimco Associates examined a portfolio of nearly 200
properties located across the country in an extremely short
period of time.  This undertaking highlights our ability to seize
the moment and be fast with our footwork," said Cooper.

In a separate series of transactions involving Hechinger store
locations, the Company also announced it has directly acquired
fee title to seven locations and one ground lease position.  
These locations were previously leased to Hechinger under a
master lease agreement.  Kimco acquired the sites through
separate transactions which included the acquisition of
partnership interests from a third party that held the
properties, the purchase of secured notes that encumbered the
properties, a remainderman position in the assets, and the
Hechinger master lease position.  The aggregate consideration for
the purchase of the various interests was approximately $57
million.  The master lease position for these eight locations was
included in the package approved by the Bankruptcy Court.  
Although Hechinger was the primary tenant on the lease, most of
the locations were sublet to other retailers.

Cooper said, "I am especially proud of our ability to complete
this transaction because we negotiated with four separate parties
to acquire the package.  I feel it demonstrates Kimco's
considerable expertise at overcoming obstacles and capturing
value from under-performing assets."

Kimco, a publicly traded real estate investment trust, has
specialized in shopping center acquisitions, development and
management for more than 30 years.  Kimco currently owns and
operates the nation's largest portfolio of neighborhood and
community shopping centers, with interests in 473 properties
comprising approximately 61 million square feet of leaseable
space located throughout 40 states.

    
HVIDE MARINE: Court Confirms Plan Of Reorganization
---------------------------------------------------
Hvide Marine Incorporated (OTC Bulletin Board: HMARQ) today
announced that the United States Bankruptcy Court for the
District of Delaware has confirmed the Plan of Reorganization
proposed by Hvide in its Chapter 11 case.  The Court acted after
Hvide secured commitments for exit financing facilities totaling
$ 310 million from a group of financial institutions led by
Deutsche Bank. Obtaining the exit financing commitments was the
last step necessary for Hvide to seek confirmation of its
Reorganization Plan.  The Plan is expected to become effective by
year-end 1999, subject to completion of the exit financing.

"Today's action by the Court marks a turning point for the
Company and clears the way for our emergence from Chapter 11,"
commented Jean Fitzgerald, Chairman, President and CEO.  "We have
come a long way in three months, thanks to the continued loyalty
and support of our employees, customers, and suppliers,
and the assistance of the Official Committee of Unsecured
Creditors.  We go forward with a new lease on life and a
commitment to restoring the Company to profitability."

The exit financing facility consists of $200 million in term
loans, a $25 million revolving credit facility, and $85 million
in senior secured second lien notes.  Proceeds will be used to
refinance the Company's borrowings under its debtor-in-possession
credit facility, to pay administrative and other fees and
expenses, and to provide for future working capital requirements.

Upon final Plan consummation, holders of the Company's 8 3/8%
Senior Notes will exchange their Senior Notes for 9,800,000
shares of common stock of the reorganized Hvide Marine,
representing 98% of the new common equity; holders of
the Trust Convertible Preferred Securities will receive 200,000
shares of common stock of the reorganized Hvide Marine,
representing 2% of the new common equity, together with warrants
to purchase an additional 125,000 shares; and holders of
the Common Stock will receive warrants to purchase 125,000 shares
of the common stock of the reorganized Hvide Marine, or one
warrant for every 124 shares currently owned.  The warrants will
be exercisable at $38.49 per share and will have a term of four
years.  In addition, warrants to purchase 6.75% of the common
stock of the reorganized Hvide Marine are to be issued in
connection with the new senior secured second lien notes.  Such
warrants are expected to have a nominal purchase price and a term
of seven and one-half years.

As previously announced, the Plan also provides that general and
trade creditors will be paid in full.

With a fleet of 274 vessels, Hvide Marine is one of the world's
leading providers of marine support and transportation services,
primarily to the energy and chemical industries.  Visit Hvide on
the Web at www.hvide.com.


INCOMNET: Postpetition Telecommunications Services Agreement
------------------------------------------------------------
Incomnet Communications Corporation generates roughly $30 million
in annual income by reselling long-distance and
telecommunications services at retail rates.  The costs for these
services, which it has purchased exclusively from MCI WorldCom
Network Services, Inc. are approximately $14.5 million per year.

Subject to court approval, Incomnet renegotiated its
Telecommunications Services Agreement and obtained a 20% discount
in its service costs.  Under the new rates, it will reduce its
long-distance costs by approximately $2.4 million annually. The
debtor seeks approval of the postpetition agreement by January 3,
2000, or the postpetition agreement will be null and void and the
rates will revert to the adequate assurance order.

The debtor states that the savings to the debtor are compelling
reasons for justification of entry of a court order.


IRIDIUM: Investors Commit Funding to Ensure Service
---------------------------------------------------
Iridium LLC announced that it has obtained a funding commitment
of $20 million from current investors led by Motorola. This
funding will be used for ongoing operations while the company
seeks to achieve its financial restructuring. Motorola is seeking
broader participation in the $20 million funding commitment from
other current investors. Iridium LLC will request approval of
these arrangements in a motion to be filed on December 10, 1999
with the U.S. Bankruptcy Court for the Southern District of New
York. The company will seek an extension of its current cash
collateral order, which expires on December 15, 1999, through
February 15, 2000 to accommodate these arrangements.

"Our existing investors have stepped forward to provide for
ongoing operations, while we continue to have discussions with
potential new investors," CEO John Richardson said. Discussions
with a number of parties have been held since Iridium filed on
August 13, 1999 for relief under Chapter 11. However, no
investment offers have been made.

The Company noted that recent trading in the stock of its public
investment vehicle, Iridium World Communications Limited, does
not reflect the reality of its financial situation. The stock of
IWCL was de-listed by NASDAQ on November 19, 1999 and is now
trading on the "pink sheets." The company is in a Chapter 11
bankruptcy reorganization proceeding and, based on its debt level
in excess of $ 4 billion and the legal priorities in bankruptcy,
believes that it is highly unlikely that any reorganization will
result in value remaining from the bankruptcy estate for holders
of publicly traded equity.

Throughout the restructuring process, new customers have been
added to the Iridium global service network. Over 50,000
customers have purchased Iridium phones. "The loyalty of our
customers despite the financial challenges we face and the
interest Iridium continues to attract from new customers is
encouraging. Customers can be confident that sales, including
those related to Y2K, will be supported with Iridium's best
efforts to provide a contingency communications alternative,"
said Vice President for Sales and Distribution Sue Kennedy.

As part of the continuation of service to its customers the
company announced that Motorola expects to commence shipments by
year end of its smaller Satellite Series 9505 portable phone.
This second generation subscriber product is smaller and lighter
than the initial generation of Motorola Satellite Series phones.

The company also announced that Randall W. Brouckman has been
promoted to the position of Chief Operating Officer. CEO John
Richardson said, "Randy Brouckman's promotion to COO will
reinforce the senior management capability of the company during
this critical period." Mr. Brouckman was formerly Senior Vice
President Engineering Systems and Operations.

IRIDIUM LLC became the world's first global satellite phone and
paging company on November 1, 1998. Its network of 66-low earth
orbiting satellites, combined with existing terrestrial cellular
systems, enables customers to communicate around the globe.
Iridium World Communications, Ltd. is the public investment
vehicle of Iridium LLC.

Iridium is a registered trademark and service mark of Iridium IP
LLC.


LACLEDE STEEL: Interim Order Extends Exclusivity
------------------------------------------------
The US Bankruptcy Court for the Eastern District of Missouri
entered an order granting the request of the debtors, Laclede
Steel Company, et al. to extend the debtors' exclusive period on
an interim basis.  The order provides that any creditor or party-
in-interest who objects to the entry of an order granting the
extension of the Exclusive Period to January 14, 2000 and the
Acceptance Period through and including March 31, 2000 shall have
until December 13, 1999 to file such objection.


MINERAL RIDGE: Vista Announces Closure of Mineral Ridge
-------------------------------------------------------
Mr. Michael B. Richings, President and Chief Executive Officer of
Vista Gold Corp. (Amex: VGZ; Toronto), announced today that Vista
Gold's wholly-owned subsidiary, Mineral Ridge Resources Inc., has
decided to cease mining activities at the Mineral Ridge mine in
Nevada and has applied for protection under Chapter 11 of the
U.S. Bankruptcy Code in order to begin the process of a permanent
cessation of all mining activities. The decision was made today
following the collapse of discussions between Mineral Ridge and
Dresdner Bank for an orderly closure process.

As previously reported, gold production at the Mineral Ridge mine
has failed to meet expectations.  Initially this was caused by
mechanical difficulties in the plant.  More recently, significant
and persistent ore losses have occurred during mining operations
in comparison to the quantities of ore in the ore reserve
estimates.  After reviewing the mineable reserves with an
independent consultant, Mineral Ridge concluded it was probable
that significant losses of ore in terms of volume and grade could
be expected in the future.  The reduced production, reduced ore
reserves caused by ore losses and the persistent low gold prices
have resulted in the mine failing to meet its required cash-flow
targets under Mineral Ridge's loan agreement with Dresdner Bank.  
In the beginning of December 1999, the debt was approximately $14
million and on December 8, 1999, Dresdner Bank notified Mineral
Ridge that it was in default under the loan agreement.  A number
of options were then considered and discussed with the bank,
including the continuation of mining activities on a reduced
basis, and the cessation of mining activities except heap-
leaching gold on the pads to fund closure and reclamation costs
or a protective bankruptcy filing.

Although Mineral Ridge is a wholly-owned subsidiary of Vista
Gold, the Dresdner Bank loan was not guaranteed by Vista Gold
when it acquired Mineral Ridge in 1998 and there is no recourse
to Vista Gold for any amounts owing under the loan agreement.

Vista Gold Corp. is an international gold mining, development and
exploration company based in Denver, Colorado.  Its holdings
include the Hycroft mine in Nevada, a development project in
Bolivia and exploration properties in North and South America.


MONDI OF AMERICA: Seeks To Reject Leases
----------------------------------------
The debtors, Mondi of America, Inc. and its affiliates seek to
reject two unexpired leases of nonresidential real property.  The
premises are located at 100 Greyrock Place, Stamford, CT  and 50
Penn Place, Oklahoma City, OK.

Both stores were recently closed and are not required by the
debtors' current efforts to liquidate their assets.


NU-KOTE HOLDING: Files Consensual Plan of Reorganization
--------------------------------------------------------
Nu-kote Holding, Inc. (OTC Bulletin Board: NKOT) announced today
that it has reached a major milestone in its plan to emerge from
bankruptcy.  A Joint Plan of Reorganization was filed on December
1, 1999 in the United States Bankruptcy Court for the Middle
District of Tennessee.  The Plan reflects a consensual
arrangement among the company, its lenders and the unsecured
creditors committees.

The Plan's major provisions call for the sale of the Company as a
going concern to Richmont Capital Partners I, L.P., a multi-
national investment firm, unless a higher and better offer is
obtained as a result of a sale process being conducted by the
Company's investment banking firm.  Proceeds from the sale will
be distributed to the Company's creditors and the Company's
shareholders will not receive anything for their shares under the
terms of the plan.  Confirmation of the Plan will allow the
Company to successfully conclude its reorganization effort.  Nu-
kote expects confirmation of the consensual plan no later than
March 15, 2000.

Through its operating subsidiaries, Nu-kote produces supplies for
printers, copiers, fax machines and ink jet printers, sold
primarily in North America.


OPTEL INC: Taps Deloitte Consulting and Deloitte & Touche
---------------------------------------------------------
The debtors, OpTel, Inc., et al. seek an order authorizing the
debtors to retain and employ Deloitte Consulting LLC as
restructuring consultants and Deloitte & Touche LLP as auditors,
accountants and tax consultants.

Deloitte Consulting will render restructuring advisory services
to the debtors as needed throughout the course of the Chapter 11
cases.

Deloitte & Touche will render auditing, accounting and tax
consultant advisory services to the debtors as needed throughout
the course of the cases.


OPTEL INC: Order Extends Time To Assume/Reject Unexpired Leases
---------------------------------------------------------------
The debtors, OpTel, Inc., et al. seek an extension of time to
assume or reject unexpired nonresidential property leases. A
hearing to consider the motion will be held on December 16, 1999
at 4:00 PM.

The debtors seek an extension through and including April 28,
2000 to assume or reject all of their unexpired non-residential
real property leases.  The debtors seek the extension so as to
allow them to conduct an evaluation of the leases so that an
informed decision as to whether an assumption or rejection of the
leases is in the best interests of the debtors' estates.  
Additional time is necessary to accumulate data on the viability
of the leased locations to help determine the ultimate
configuration of the reorganized debtors.

The debtors have acted promptly and reasonably with respect to
their analysis of the viability and marketability of the leases,
but require additional time to resolve their evaluation of the
leases.  The debtors are party to in excess of 130 leases.


POWER DESIGNS: Order Approves Disclosure Statement
--------------------------------------------------
By order entered n November 30, 1999, the US Bankruptcy Court for
the District of Connecticut approved the Disclosure Statement of
Power Designs, Inc. and PDIXF Acquisition Corporation, debtors.  
January 25, 2000 is fixed as the date of the hearing to consider
confirmation of the plan.


SGL CARBON: Bayou Steel Objects To Disclosure Statement
-------------------------------------------------------
Bayou Steel Corporation submits its objections to debtor SGL
Carbon Corporation's First Amended Disclosure Statement.  Bayou
Steel complains that the Disclosure Statement is objectionable
since it fails to provide an adequate basis for the proposed
settlement amounts for graphite electrodes antitrust litigation
in Class 6.  Also, the Disclosure Statement lacks any basis for
estimating or providing for the potential value of claims held by
parties that have not settled.  Bayou opted out of the graphite
electrodes class action in order to pursue its remedies
independently. Class 6 lumps together opt out plaintiffs, the
class, parties that have settled and parties that have not, which
according to Bayou gerrymanders the vote and denies plaintiffs
such as Bayou their rights and adequate protection of their
claims.  These actions appear to be motivated by the rigors of
confirmation under the Code's cramdown provisions.  Bayou Steel
states that they are unacceptable.


STARTER: Order Approves Extension of Exclusivity
------------------------------------------------
By stipulation made between the debtor, SC New Haven Corporation,
f/k/a Starter Corporation and its affiliates and the Official
Committee of Unsecured Creditors, the debtors' exclusive filing
period is extended to and including January 14, 2000 and the
debtor's exclusive solicitation period is extended to and
including April 1, 2000.  The debtors shall ask for no further
extensions of exclusivity.  The court approved the stipulation of
the parties.


TRACK 'N TRAIL: Tripped Up By Bumpy Earnings
--------------------------------------------
Track 'n Trail, the El Dorado Hills-based retailer of footwear
and apparel, has fired its president, an eight-year veteran of
the company.  The termination of Greg Kilgore came as the
publicly traded company also reported a third-quarter loss of $
509,000. A year ago, Track 'n Trail made $ 97,000 in the same
quarter ended Sept. 25.  For the year to date, Track 'n Trail has
lost $ 2.05 million, compared to a loss of $ 408,000 at this
point a year ago.

Track 'n Trail blamed the losses primarily, on poor performance
at Eagles Nest, an apparel chain that the company acquired in
August 1998. The company has a little more than 190 stores and
approximately 1,500 employees. In light of the latest financials,
the retailer, which went public in October 1997, plans to open
three more stores than expected in the fourth quarter to try to
take advantage of the winter holiday shopping season.

But next year, Track 'n Trail plans to open 19 fewer stores than
originally expected.  Still planned for opening next year will be
three different stores in the Galleria at Roseville, which is
currently under construction.  Looking for a leader: Track 'n
Trail isn't providing any details about what it called the
"tennination" of Kilgore on Oct. 26.

Until he is replaced by a new chief executive officer, David
Suechting Jr., chairman of the board, will head the company.
Kilgore came aboard eight years ago and helped the company
through power struggles among the Suechting family, which founded
Track 'n Trail in 1979 in San Jose. Kilgore said this week he
plans to "take it easy" for awhile. "I don't have future plans
right now."

He said he is still considered an "insider" by Securities and
Exchange Commission rules and cannot comment for 90 days on the
company or why he was let go. "I would get in trouble," he said.

Track 'n Trail is looking internationally for a successor who
will serve as president and chief executive officer, said Dan
Nahmens, chief financial officer. Although the retailer would
like to have someone in place before the first of the year, there
is no set timeline for the selection.  It could take anywhere
from six weeks to six months, said John Wilkinson, executive vice
president of merchandising and marketing.  

Track 'n Trail reported a gain of 5.1 percent in same-store
sales. In addition, the gross profit margin for the third quarter
increased to 46.4 percent compared to 45.7 percent in the same
period last year.  That was primarily thanks to the fact that
Track 'n Trail and Overland Trading stores had lower markdowns
than in the previous years. The increase was partially offset by
sales at Eagles Nest, which typically carry lower margins.
The gross margin would have been 47.3 percent excluding the
Eagles Nest stores.

Eagles Nest, which specializes in sport and outdoor clothing
lines, is a good concept. "We still, believe it's a sound idea,"
Nahmens said.  But according to Bob McGee, editor of Sporting
Goods Intelligence, a weekly newsletter out of Bridgewater,
Mass., "people on the (Wall) Street have questioned the
acquisition."

And those observers see Eagles Nest as one of Track 'n Trails'
primary problems, he added.

The next step: Originally Track 'n Trail had planned to open a
dozen stores this year, but now it will open a few more than that
to take advantage of holiday, shopping.

Eleven have opened so far, with the two newest having been added
in Michigan on Wednesday.

Four more are to come before the end of the year, with two in
Texas and one apiece in Florida and North Carolina, Wilkinson
said.

At midyear, Track 'n Trail had planned to open 25 stores next
year. Now the retailer expects to open only the six locations for
which the company already has commitments. Three of those -- one
store apiece for Track 'n Trail, Overland Trading and Eagles Nest
-- will be 'in the' new Galleria at Roseville mall, Nahmens said.

Like Track 'n Trail, Overland Trading offers a wide range of
rugged walking and casual shoes.

Track 'n Trail continues to sell over the Internet as well.
Online sales, which began midyear, are "steady," Nahmens said.
"They're certainly not, huge at this point." But the retailer has
not begun to advertise its online sales capabilities.


TRISM INC: Announces Court Confirmation of its Plan
---------------------------------------------------
TRISM, Inc. (Nasdaq: TRSME) (the "Company") announced today that
its Chapter 11 Reorganization Plan was confirmed by the United
States Bankruptcy Court, District of Delaware, Honorable Sue L.
Robinson.

Edward L. Mccormick, the President and Chief Executive Officer of
TRISM stated, "As we emerge from Chapter 11, our improved capital
structure positions TRISM for future aggressive profitable
growth.  We would like to extend our sincerest thanks to our
employees, customers, and suppliers for their strong and
continuing support as we have transitioned through this tedious
yet necessary process."

Under the Reorganization Plan, the Company will significantly
reduce its long-term debt, pay all trade debt in full and, under
the direction of its current management team, continue with its
trucking operations.  The Company is the nation's largest
trucking company that specializes in the transportation of
heavy weight, over-dimensional, environmental, and secured
materials. Consummation of the Reorganization Plan is conditioned
upon the finalization of required documentation contemplated by
the Plan and finalization of a $42.5 million loan facility for
which the Company has received a commitment and which
will be utilized in connection with the Company's ongoing
operations.

                    *********

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.

This material is copyrighted and any commercial use, resale
or publication in any form (including e-mail forwarding,
electronic re-mailing and photocopying) is strictly prohibited
without prior written permission of the publishers.

Information contained herein is obtained from sources believed
to be reliable, but is not guaranteed.  The TCR subscription
rate is $575 for six months delivered via e-mail. Additional
e-mail subscriptions for members of the same firm for the term
of the initial subscription or balance thereof are $25 each.
For subscription information, contact Christopher Beard
at 301/951-6400.  


       * * * End of Transmission * * *