TCR_Public/991231.MBX    T R O U B L E D   C O M P A N Y   R E P O R T E R
       
     Thursday, December 30, 1999, Vol. 3, No. 252
                     
                     Headlines

ACE BAKING COMPANY: Files Chapter 11 Petition
AMERICAN MOBILE SATELLITE: Shareholders Report Holdings
CHERRYDALE FARMS: Motion For Extension of Solicitation Period
CODON PHARMACEUTICALS: Disclosure Statement Approved
DOW CORNING: Women Who Oppose Dow Corning Settlement Can Sue

FAMILY GOLF CENTERS: Zucker Purchases Shares
GANTOS: Lenders Report Further Defaults
GENESIS DIRECT: Court Order Allows Severance Payment
GEO: Emerges From Bankruptcy, Elects New Management
GLEN'S EXCAVATING & TRUCKING INC.: Case Summary

GRAHAM-FIELD: Case Summary and 20 Largest Unsecured Creditors
GRAND TETON, LLC: Case Summary & 3 Largest Unsecured Creditors
JJF ASSOCIATES: Case Summary & Largest Unsecured Creditor
JUST FOR FEET: Deloitte & Touche Resigns
LAMONTS APPAREL: More Financial Troubles

LOEWEN: Seeks Top Reject Twelve Leases
MAX GAMING LLC: Case Summary & 20 Largest Unsecured Creditors
METRETEK TECHNOLOGIES: Entities Report Stock Ownership
MINERAL RIDGE: Case Summary & 20 Largest Unsecured Creditors
MONDI OF AMERICA: Seeks Authority To Terminate/Assume Leases

MOUNTAIN MINES, INC.: Case Summary
NAYA INC.: Seeks Bankruptcy Protection
NEVSTAR GAMING: Case Summary & 20 Largest Unsecured Creditors
ONCOR: Disclosure Statement Approved
PENNCORP FINANCIAL: Shareholders Direct Liquidation

PHYSICIAN COMPUTER: Requests Final Date For Proofs of Claim
RENAISSANCE COSMETICS: Committee Taps E&Y Restructuring
SEMI-TECH: Seeks Extension of Exclusivity
STARMET: Interests In Common Stock Reported
SUN HEALTHCARE: Committee Taps Houlihan Lokey
UNITED COMPANIES FINANCIAL: Equity Objects To Sale of Note

                     *********

ACE BAKING COMPANY: Files Chapter 11 Petition
---------------------------------------------
Ace Baking Company, a Wisconsin Limited Partnership, and one of
the nation's largest specialty bakeries supplying ice cream
cones, today announced that it had filed a Chapter 11 petition in
the U.S. Bankruptcy Court in Milwaukee.

Under the protection of the Bankruptcy Court, the company intends
to continue its "novelty" business without interruption.  The
novelty business sells its products, which include cones, novelty
items, and cone jackets, primarily to dairy accounts.

The company will seek to sell or otherwise dispose of its food
service business, whose accounts include McDonald's, Baskin
Robbins and Dairy Queen. Ace acquired the food service business
from Sweetheart in 1997, and markets its food service products
under the Eat-It-All(TM) brand.

The company has met with its bank group in an effort to work out
a restructured financial package to support the company in its
reorganization. It intends to continue discussions with the banks
after the filing. Regardless of whether it can reach agreement
with the banks, the company is confident that it will be able to
serve its novelty business customers without difficulty.

Ace is a privately held limited partnership employing
approximately 300 people with operations in Green Bay, Wisconsin,
Chicago, Illinois, Dallas, Texas, and Owings Mills, Maryland.


AMERICAN MOBILE SATELLITE: Shareholders Report Holdings
-------------------------------------------------------
Singapore Telecommunications Limited and Temasek Holdings
(Private) Limited beneficially own 3,057,595 shares of the common
stock of American Mobile Satellite Corporation.  While Singapore
Telecommunications Limited exercises sole voting and dispositive
power over all shares mentioned, Temasek Holdings Limited has
shared powers.  The 3,057,595 shares represent 6.2% of the
outstanding shares of common stock of the company.

The above entities may be deemed to comprise a group with the
following entities by virtue of certain agreements among them:
(1) Hughes Electronics Corporation and Hughes Communications
Satellite Services, Inc., an indirect wholly-owned subsidiary of
Hughes Electronics; and (2) Space Technologies Investments, Inc.
and the following affiliates of Investments: Transit
Communications, Inc. and Satellite Communications
Investments Corporation (collectively with Investments, the "AT&T
Entities"). Singapore Telecommunications and Temasek Holdings
expressly disclaim beneficial ownership of shares of common stock
beneficially owned by the Hughes Entities and the AT&T Entities.


CHERRYDALE FARMS: Motion For Extension of Solicitation Period
-------------------------------------------------------------
Cherrydale Farms, Inc. seeks an order granting further extension
of the exclusive period during which to solicit acceptances to
the debtors' plan of liquidation.  A hearing will take place on
February 10, 2000.

The debtor seeks the extension to continue discussions with the
Committee concerning the plan and the Disclosure Statement.


CODON PHARMACEUTICALS: Disclosure Statement Approved
----------------------------------------------------
On November 12, 1999, the U.S. Bankruptcy Court for the District
of Delaware signed an order approving Oncor, Inc.'s and Codon
Pharmaceuticals, Inc.'s Disclosure Statement regarding their
proposed liquidating chapter 11 plans. The Bankruptcy Court has
scheduled a hearing to consider confirmation of the Plans on
January 12, 2000, at 12:30 p.m., Eastern Time, in the Courtroom
of the Honorable Joseph J. Farnan, Jr., Chief United States
District Court Judge, 844 King Street, Wilmington, DE
19801.

Under the company's Plan, as proposed, all equity interests in
Oncor would be cancelled without payment or consideration. In
addition, the proposed company Plan provides for the payment of
administrative expenses and priority tax claims in cash in full,
and for the partial payment of all other claims (other than those
related to the company's equity interests).

For a summary of the Plan of Reorganization and the Disclosure
Statement access http://www.sec.gov/cgi-bin/srch-
edgar?0000950116-99-002303 free of charge, on the Internet.




DOW CORNING: Women Who Oppose Dow Corning Settlement Can Sue
------------------------------------------------------------
ABI WORLD 28-Dec-1999- Bankruptcy Judge Arthur Spector ruled last
week that any woman who either voted against the $3.2 billion
settlement plan offered by Dow Corning Corp. or did not vote at
all can sue Dow Chemical Co. or Corning Inc., each of which owns
half of Dow Corning, according to Reuters. A spokesperson for
Dow Corning said the decision as been appealed, but no date for
the appeal has been set. Some 94 percent of the women who voted
on the plan earlier this year approved it. A clause of the
settlement approved on Nov. 30 barred further lawsuits against
Dow Corning's corporate parents, and Dow Corning's spokesperson
said, the clause "is a very fundamental part of the plan. Without
the release, there's no plan." But Judge Spector said he
lacked the power to grant a release and that the plan was not
structured to allow such a release. He also said that women who
approved the plan will be barred from suing the parent companies
and that there is no reason to assume that allowing claims from
women who voted against the settlement would create an undue
burden on Dow Chemical or Corning. Dow Corning filed chapter 11
in May 1995 after it was hit with about 19,000 lawsuits from
women who alleged the company's silicone gel breast implants
caused illnesses. Judge Spector approved the settlement and plan
last month. The total reorganization plan is valued at $4.5
billion.


FAMILY GOLF CENTERS: Zucker Purchases Shares
--------------------------------------------
Jerry Zucker, during the month of December, 1999, has purchased
1,432,000 shares of common stock of Family Golf Centers Inc.,
representing 5.5% of the outstanding shares of common stock of
the company.  Mr. Zucker exercises sole voting and dispositive
power on the shares.

Mr. Zucker is the chief executive of The InterTech Group, Inc.
and Polymer Group, Inc.  The InterTech Group, Inc. invests
primarily in manufacturers, especially manufacturers of a wide
and diverse variety of polymer and elastomer based products. The
principal business of Polymer Group, Inc. is the manufacture and
marketing of non-woven and woven polyolefin products.

Mr. Zucker has purchased an aggregate of 1,432,000 shares for
total consideration of $2,190,836.71.  The funds for the
purchases were provided from Mr. Zucker's personal funds and/or
in part by margin account loans from Morgan Stanley Dean Witter
extended in the ordinary course of business.


GANTOS: Lenders Report Further Defaults
---------------------------------------
On December 1, 1999, the lenders under the Foothill/Paragon
Facility notified Gantos Inc. (1) of further defaults under the
Facility, (2) that any further advances under the Facility would
only be made in the lenders' discretion, and (3) that the lenders
were reserving all of their rights to enforce the  
Foothill/Paragon Facility. Those rights include declaring the
entire indebtedness due, not extending any further credit,
terminating the agreement and requiring the company to hold its
inventories in trust for the lenders.

Without waiving their reservation of rights, the company
acknowledged that the lenders have informed the company that they
intend to cease making advances immediately and exercise their
rights and remedies under the loan documents if (1) the company
fails to make any required payment to the lenders, (2) the
company fails to comply with the December cash budget, (3)
the company makes any misrepresentation in any document or fails
to perform any covenant in the letter agreement, (4) the company
becomes insolvent or a bankruptcy case or proceeding is commenced
against the company, (5) the lenders believe an event of
condition has occurred that could cause a material adverse change
in the company, or (6) any Event of Default occurs
under the loan documents.

The company has violated other requirements of its loan agreement
relating to failure to maintain minimum levels of net worth and
earnings before interest, taxes, depreciation and amortization
and failure to comply with retail performance covenants regarding
purchases, inventories and sales.

Gantos indicates it is unlikely to be able to comply with these
covenants in the future unless its sales and trade credit
substantially improve and it receives a capital infusion, or the
covenants are changed. As of December 13, 1999, the company had
$35.8 million in borrowings and $0.7 million in letters of credit
outstanding under the Foothill/Paragon Facility and $1.5 million
was available for borrowing under the Foothill/Paragon Facility.

The lenders under the Foothill/Paragon Facility continue, in
their discretion, to allow the company to borrow under the
facility to the extent of the borrowing base under the facility,
but have not waived current defaults or changed the covenants.
They may discontinue advances at any time. If the lenders under
the Foothill/Paragon Facility exercise their right to cease
making advances, the company says it would not be able to
continue to operate. If the agreement is terminated before
November 18, 2000, the company will owe the lenders an $800,000
termination fee.

Losses continue to plague the company as indicated by the
financial statements recently filed.  For the thirteen weeks
ended October 30, 1999 revenues were reported to be $33,560 with
net losses of $4,456.  In the same period of 1998 Gantos revenues
were $35,446 and net losses $4,017.  In the thirty-nine weeks
ended October 30, 1999 revenue was $107,284 and net losses were
$8,894.  For comparison, in the thirty-nine week period ending
October 31, 1998, the company had revenues of $106,267 and
experienced net losses of $9,714.


GENESIS DIRECT: Court Order Allows Severance Payment
----------------------------------------------------
The US Bankruptcy Court for the District of New Jersey entered an
order authorizing the debtors to pay severance pay and vacation
pay to employees who have been or will be terminated as a result
of the proposed sale of assets of CW Gifts, LLC.  Three weeks of
severance payments will be approximately $507,000 and the
estimated cost of vacation pay is $128,370.  The debtors are
authorized to pay severance pay equal to two weeks to employees
discharged or laid off by CW on or after November 8, 1999.


GEO: Emerges From Bankruptcy, Elects New Management
---------------------------------------------------
Dennis Timpe, the newly elected chairman of the board and
president of Geo Petroleum Inc.(Internet Pinksheets:GOPL),
announced that the company emerged from bankruptcy on Dec. 27,
1999, upon approval of its plan of reorganization by the U.S.
Bankruptcy Court and by creditors.

Timpe stated that the company will promptly expand its oil
production and industrial waste disposal operations due to the
incentive of strong oil prices. Geo will initially place an
additional eight wells on production in the Oxnard Field, Ventura
County and nine wells in the Rosecrans Field, Los Angeles County.

The company's consulting engineer projects that up to 102 billion
barrels of proven undeveloped oil reserves can be produced from
the company's Oxnard leases using the new Steam Assisted Gravity
Drainage technology. Capital for this development will be sought
from investors and industry sources.

Timpe stated that the increasing pace of oil industry activity
will result in greater volumes of waste for treatment in Geo's
commercial disposal well. Geo has previously recorded gross
revenues of up to $437,000 annually from its disposal project.

TD & Associates Inc., a private oil industry investment firm
headed by Timpe since 1986, funded Geo's plan by purchasing 4.5
million shares of Geo's common stock for $500,000. Geo will
retain$200,000 as working capital, and expend $ 300,000 for
administrative costs and payments to creditors.

The company will distribute 1.9 million shares of stock to
creditors, and $ 250,000 in installments over a period of about
four years. Geo will have 15.2 million shares of common stock
outstanding after its reorganization.

Timpe has been active in oil industry financing activities for
more than 20 years. He attended the University of New Mexico and
served as marketing director for two private oil firms from 1978
to 1986.

Lori Long was elected secretary-treasurer and director, and
Christian Dillon was elected a director. The new management
succeeded the retiring founders of Geo, Gerald and Alyda Raydon,
and William Corcoran, a director.


GLEN'S EXCAVATING & TRUCKING INC.: Case Summary
-----------------------------------------------
Debtor: Glen's Excavating & Trucking Inc.
            986 South Main Street
            P.O. Box 502
            Colville, WA 99114

Type of Business: Deals in excavation and trucking services

Petition Date: December 16, 1999       
Chapter 11
Court: Eastern District of Washington
Debtor's Counsel:  
Barry W. Davidson
Davidson Bailey & Medeiros
1280 Seafirst Fin CTR
Spokane, WA 99201-0611
(509) 624-4600

20 Largest Unsecured Creditors

Andrews Equipment Services      Services           $  6,361
Conoco-Hartman Oil, Inc.     Fuel and Supplies     $ 91,409
Fogle Pump & Supply             Services           $  1,523
Key Bank Visa             Credit Card Purchases    $  8,344
Les Schwab Tires              Merchandise          $ 30,128
MasterCard                   Credit Card Purchases    $ 3,866
MasterCard                   Credit Card Purchases    $ 3,253
MasterCard                   Credit Card Purchases    $ 1,493
MasterCard                      Credit Card Purchases $ 1,479
MasterCard                     Credit Card Purchases  $ 1,311
Montgomery Law Firm            Legal Services  $ 2,356
N. Columbia Iron & Machine     Services        $ 9,259
Protection Plus                                $ 1,396
Rowand Machinery Co.           Services        $ 9,571
Totem Equipment Co., Inc.      Maintenance     $35,000
Triad Machinery                Services        $16,097
Vaagen Bros. Lumber, Inc.      Services        $ 1,369
WCLA Credit Union         Line of Credit       $ 4,069
Western Peterbilt, Inc.        Services        $ 2,307
Western States Cat             Services        $43,591


GRAHAM-FIELD: Case Summary and 20 Largest Unsecured Creditors----
---------------------------------------------------------
Debtor Affiliates:

Graham-Field Temco, Inc.
Graham-Field Health Products, Inc.,
Graham-Field, Inc.,  
Graham-Field Express (Dallas), Inc.
Lumex Medical Products, Inc.
Lumex Sales and Distribution Co., Inc.
Lumex/Basic American Holdings, Inc.
MUL Acquisition Corp. II
Rabson Medical Supplies, Ltd
81 Spence Street
Bay Shore, NY 11706

Everest & Jennings, Inc.
Everest & Jennings Int'l Ltd.
Smith & Davis Manufacturing Company
Kuschall of America, Inc.
3601 Rider Trail
Earth City, MO 63045

Labac Systems, Inc.
3535 South Kipling Street
Lakewood, CO 80235

Medical Supplies of America, Inc.
Basic American Sales & Distribution Co., Inc.
HC Wholesalers, Inc.
Critical Care Associates, Inc.
Health Care Wholesalers, Inc.
Basic American Medical Products, Inc.
2935 Bankers Industrial Drive
Atlanta, GA 30360

Graham-Field Bandage, Inc.
131 Clay Street
Central Falls, RI 02863

Graham-Field Express (Puerto Rico), Inc.
Kilometer 29.4, Road #1
Entrando por Ferrero
Caguas, PR

Everest & Jennings Canadian, Limited
11 Snidercraft Road
Concord, Ontario, CO

Everest & Jennings de Mexico, SA
Calle 3 #631
Zona Industrial C.P. 44949, GU

Graham-Field Distribution, Inc.
12055 Missouri Bottom Road
St. Louis County, MO 63042

Type of Business:  Manufacturer and distributor of healthcare
products for home, medical/surgical, rehabilitation and
Long term care.

Petition Date: December 27, 1999                   
Chapter 11
Court:  District of Delaware
Debtor's Counsel:

YOUNG CONAWAY STARGATT & TAYLOR, LLP
S. David Peress (No. 2679)
Pauline K. Morgan (No. 3650)
M. Blake Cleary (No. 3614)
11th Floor, Rodney Square North
P.O. Box 391
Wilmington, DE 19899-0391
(302) 571-6600

GIBSON, DUNN & CRUTCHER, LLP
D. J. Baker
David P. Simonds
200 Park Avenue
New York, New York 10166
(212) 351-4000

Total Assets:  $ 182,112,000
               $ 201,851,000(goodwill)
Total Debts:   $ 201,152,000

20 Largest Unsecured Creditors

American Stock Transfer     Trustee under 9-3/4%    $100,000,000
   and Trust Co.            Senior Subordinated Note
                                 Indenture
Molnlycke Healthcare, Inc.   Trade Debt          $1,063,927.84
PT Dharma                    Trade Debt          $ 950,127.31
Penny & Giles Tech.          Trade Debt          $758,566.00
Con Vatec Prof. Services     Trade Debt          $386,322.87
Abbot Laboratories           Trade Debt          $347,382.28
Von Weise Gear Co.           Trade Debt          $303,441.00

Whitestone Acquisition Corp  Trade Debt          $270,165
Allegiance Healthcare        Trade Debt          $234,180
Stature Electric             Trade Debt          $230,209
Ameplaza                     Trade Debt          $195,801
Hollister, Inc.              Trade Debt          $195,188
A & I Industries             Trade Debt          $183,516
Chi Cheng Plastic            Trade Debt          $179,307
United Parcel Service        Trade Debt          $155,823
A&D Company                  Trade Debt          $150,501
Kendall Healthcare Products  Trade Debt          $143,798
Fried, Frank, Harris,
Shriver and Jacobsen     Professional Services   $136,723
Sammons Preston, Inc.        Trade Debt          $129,811
VAW of America, Inc.         Trade Debt          $118,377


GRAND TETON, LLC: Case Summary & 3 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Grand Teton, LLC
        Suite 120
        444 East Warm Springs Rd
        Las Vegas, NV 89119

Petition Date: December 15, 1999           
Chapter 11
Court: District of Nevada                         
Judge: Robert C. Jones

Debtor's Counsel:  
Nile Leatham
Kolesar & Leatham, Chtd.
Suite 380 3320 West Sahara Ave.
Las Vegas, NV 89102
702-362-7800

3 Largest Unsecured Creditors

Interstate Mortgage            --
Ranco Holdings, Inc.       $ 76,760
KTGY Group, Inc.           $ 29,800


JJF ASSOCIATES: Case Summary & Largest Unsecured Creditor
---------------------------------------------------------
Debtor:  JJF Associates, LLC
         c/o Murphy & O'Connell
         40 Wall Street 24th Floor
         New York, NY 10005
         Tax id: 3-3869434

Petition Date:  December 21, 1999         
Chapter 11
Court: Southern District of New York       
Judge: Prudence Carter Beatty

Debtor's Counsel:  Patrick J. Murphy
                           Murphy & O'Connell
                           40 Wall Street
                           New York, NY 10005
                           (212) 425-3600

Total Assets: $ 2,000,000 up
Total Debts:  $ 1,050,000

Largest Unsecured Creditor:
New York City         Real Estate Taxes     $ 44,000


JUST FOR FEET: Deloitte & Touche Resigns
----------------------------------------
On December 7, 1999, Just For Feet, Inc. was informed by Deloitte
& Touche LLP that Deloitte had resigned as the company's
independent auditors. Deloitte's resignation was not recommended
by the Audit Committee or Board of Directors of Just For Feet
Inc.

In or about early June 1999, Deloitte provided the management of
Just For Feet with a draft of a proposed management letter
discussing observations made during Deloitte's audit of the
company's financial statements for the fiscal year ended January
30, 1999. The draft management letter addressed matters relating
to the company's accounts payable system and vendor receivables
that Deloitte considered at that time to be "reportable
conditions" as defined by the American Institute of Certified
Public Accountants. Management disagreed with the
characterization and deferred circulating the draft letter to or
discussing the draft letter with the company's president, the
Board of Directors or the Audit Committee until discussions could
be held with Deloitte. No such discussions were held nor was the
management letter finalized prior to Deloitte's resignation. The
company says Deloitte did not advise the Audit Committee or the
Board of the contents of the draft letter nor any reportable
conditions during meetings held with the Audit Committee or
otherwise and that it, the company, has never received a final
management letter.


LAMONTS APPAREL: More Financial Troubles
----------------------------------------
Lamonts Apparel Inc. has run into financial trouble again. It has
liquidity and is talking to its lenders.

The Kirkland retailer operates 38 stores in five Northwestern
states, and complained that the weather hurt its sales.

Lamonts Apparel "would consider all options to improve liquidity,
including reorganization," the company said in a statement.

Lamonts emerged from Chapter 11 bankruptcy protection in February
1998, after a three-year reorganization, with $42 million worth
of loans and credit it received under existing agreements with
BankBoston N.A., according to press reports.

Since it emerged, Lamonts continues to have problems. The company
reported a loss of $1.5 million for the second quarter, which
ended July 31, compared with a loss of $800,000 in the same
period a year before.

In October, Lamonts said it received new and extended credit that
will allow it to meet most of its seasonal inventory requirements
through 2001.

Lamonts has yet to release its third quarter earnings.
Earlier this year there were discussions of a merger.


LOEWEN: Seeks Top Reject Twelve Leases
--------------------------------------
The Debtors tell the Court that, of approximately 300 unexpired
leases being reviewed, they have determined that the burdens of
twelve specific leases for vacated properties outweigh the
benefits and should be rejected without further delay:

     1. Advance Planning-North Central in Ft. Wright, Kentucky;
     2. Blessing in Mentor, Ohio;
     3. Chapel Hill Gardens in Dade City, Florida;
     4. Crown Hill Memorial Park in Dallas, Texas;
     5. Grandview/Woodlawn Mt. Hope in Champaign, Illinois;
     6. Ives Funeral Home in Arlington, Virginia;
     7. Ludlin Management Services in Norman, Oklahoma;
     8. Memory Park in Memphis, Tennessee;
     9. Northeast Regional in Marietta, Georgia;
    10. Portland Telemarketing Office in Portland, Oregon;
    11. South Central Regional I in Houston, Texas; and
    12. South Central Regional II in Houston, Texas.


Rejecting these leases will save approximately $540,000 per year.  
The Debtors request that the rejections be effective as of
December 9, 1999. (Loewen Bankruptcy News Issue 16; Bankruptcy
Creditor's Service, Inc.)


MAX GAMING LLC: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor:  
Max Gaming, LLC, a Nevada Limited Liability Co.
4545 Springs Mountain Rd.
# 105
Las Vegas, NV 89109

Type of Business:  Formerly operated the Maxim Hotel & Casino

Petition Date: December 10, 1999         
Chapter 11
Court: District of Nevada                       
Judge:  Clive R. Jones

Debtor's Counsel:  
Gerald M. Gordon
Gordon & Silver, Ltd.
3960 Howard Hughes Pky 9th Flr
Las Vegas, NV 89109
702-796-5555

Total Assets:   $ 2,000,000.00
Total Debts:    $ 2,937,567.54

20 Largest Unsecured Creditors

Clark County  Dept. of Business  Room Tax October  $ 197,273
Vegas Chapel, LLC           Tenant Improvement     $ 135,000
Kurt Weinrich               Sales Tax              $ 101,492
Mission Industries          Linen Supplies         $ 90,703
Nevada Power Company    Electrical Supplier        $ 83,963
Division Contribution Sec.  State Unemployment Tax  $ 80,000
Desert Gold Food, Inc.       Trade Purveyor         $ 68,563
US Food Service-LV Div.    Trade Purveyor           $ 68,563
Battaglia Enterprises          Trade Purveyor       $ 66,737
Desert Meats & Provisions  Trade Purveyor           $ 43,986
Hospitality Network, Ltd.     Trade Purveyor        $ 37,434
Maxsnax, LLC.                  Tenant Improvement   $ 30,000
Style Wise Design       Trade Purveyor              $ 28,090
IGT                         Trade Purveyor          $ 25,866
Casino Market Place Dev.   Trade Purveyor           $ 25,811
J&J Seafood Company       Trade Purveyor            $ 24,090
Sandy Valley Farms, Inc.  Trade Purveyor            $ 21,656
Westco Food Service     Trade Purveyor              $ 20,432
Get Fresh Sales         Trade Purveyor              $ 18,787
Marketing Results       Trade Purveyor              $ 16,648


METRETEK TECHNOLOGIES: Entities Report Stock Ownership
------------------------------------------------------
The following entities beneficially own the shares of common
stock of Metretek Technologies Inc. shown:  DDJ Capital
Management, LLC,  290,000 shares, representing 7.7% of the
outstanding shares of common stock of the company; B III-A
Capital Partners, L.P., 48,400 shares,  1.3% of the
outstanding shares; and GP III-A, LLC, also 48,400 shares, 1.3%
of the outstanding shares.  The entities exercise sole voting and
dispositive power over the number of shares owned.

Each of the aforementioned entities are collectively referred to
as the "DDJ Affiliates."  GP III-A, LLC is the general partner
of, and DDJ is the investment manager for, the Fund. DDJ is also
the investment manager for an account established for an
institutional investor and an investment advisor to DDJ Canadian
High Yield Fund, a closed-end investment trust established
under the laws of the Province of Ontario Canada.

On December 9, 1999, the Fund, DDJ Canadian and the Account
purchased an aggregate of 1,450 Units issued by the company
pursuant to a private placement for a purchase price of $2,000
per Unit for an aggregate purchase price of $2,900,000. Each Unit
consists of one share of Series B Preferred Stock, 200 shares of
Common Stock and one Warrant to purchase 100 shares of Common
Stock. The Units are immediately detachable into their component
securities. The Fund purchased 242 Units for cash; DDJ Canadian
purchased 725 Units for cash; and the Account purchased 483 Units
for cash.

The shares were purchased in order to establish an equity
interest in the company in pursuit of specified investment
objectives established by the investors in the Funds. DDJ and the
DDJ Affiliates may continue to have the Fund, the Account and DDJ
Canadian purchase shares subject to a number of factors,
including, among others, the availability of shares for sale at
what they consider to be reasonable prices and other investment
opportunities that may be available to the Fund, the Account and
DDJ Canadian.

Neither security is convertible or exercisable within 60 days of
the December transaction. Under the Securities Purchase Agreement
entered into by the company and each of the Funds dated December
9, 1999, the Funds have agreed to purchase an aggregate of an
additional 1,550 Units, provided certain conditions have been
met.

Under the terms of the Certificate of Designation of the Series B
Preferred Stock, as long as there are at least 2,000 shares of
the Series B Preferred Stock outstanding, the holders thereof are
entitled to elect one director to the Board of Directors. The
Funds currently intend to participate in the selection of a
director in accordance with and to extent permitted by such
provision. In addition, pursuant to a side letter among
the company and the Funds, the company agreed to seek to provide,
as a remedy to the holders of the Series B Preferred Stock in the
event the company defaults in its obligations to redeem the
Series B Preferred Stock, the right of holders of Series B
Preferred Stock to elect a majority of the Board of Directors of
the company.

For more in-depth coverage of the transactions access
http://www.sec.gov/cgi-bin/srch-edgar?0000950135-99-005663on the  
Internet, without cost.


MINERAL RIDGE: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor:  Mineral Ridge Resources, Inc.
         P.O. Box 40817
         Reno, NV 89504

Type of Business: Gold and Silver production at Silver Peak mine.
Cyanide heap leach process.    

Petition Date:  December 10, 1999        
Chapter 11
Court: District of Nevada                      
Judge: Gregg W. Zive

Debtor's Counsel:  
Jeffrey L. Hartman
Hartman & Armstrong
427 West Plumb Lane Reno, NV 89509

Total Assets:  $ 23,500,000
Total Debts:   $ 24,500,000

20 Largest Unsecured Creditors

Al Park Petroleum                   $ 176,244
Arnold Machinery Company            $ 151,102
Energetic Solutions                 $  83,202
Cashman Equipment                   $  82,932
Hunewill Construction               $  81,637
National Seal Company               $  64,854
Sveldala Pacific                    $  62,095
Sierra Pacific Power                $  59,770
California Portland Cement          $  53,007
OK Tire                             $  43,488
Delta Rubber                        $  42,633
Degussa Corporation                 $  40,493
Perry Crane                         $  27,490
Pac Machine Company                 $  18,919
Employers Ins of NV                 $  18,245
Codale Electric Supply              $  17,714
PDM Steel Service Center            $  17,483
Kimball Equipment Co.               $  17,392
Nalco Chemical Co.                  $  16,744
Suburban Propane                    $  14,757


MONDI OF AMERICA: Seeks Authority To Terminate/Assume Leases
------------------------------------------------------------
The debtors, Mondi of America, Inc. and its affiliates seek an
order authorizing the debtors to enter into lease termination
agreements covering:
225 West 47th Street, Kansas City, Missouri - Liquidation Sale
Ongoing

Certain parcel located in the Dallas Market Center, Dallas, Texas
- Liquidation sale ongoing. The disposition of the lease will be
subject to higher and better offers. Bids had to be submitted by
December 31, 1999.

The debtors and affiliates also seek an order authorizing the
assumption and assignment of substantially all of its fourteen
leases, pursuant to the terms of Lease Auction order following
the debtors' auction on December 17, 1999.

The debtors designated the agreements of Cache, Inc. and Kolonaki
as Stalking Horse Agreements.  At the auction, Cache, Inc. was
the successful bidder for certain leases for an aggregate
purchase price of $410,000. The leases cover the premises in the
Cherry Creek Shopping Center, Denver, Colorado; Scottsdale
Fashion Square, Scottsdale, Arizona, The Waterside Shops at
Pelican Bay, Naples, Florida, The Gardens, Palm Beach Gardens,
Florida, The Somerset Collection, Troy, Michigan, The Mall at
Green Hills, Nashville, Tennessee, and Plaza Frontenac, St.
Louis, Missouri.  Kolonaki was the successful bidder for certain
leases  for a total purchase price of $160,000.  The leases cover
premises located at Tower Place, Cincinnati, Ohio, The Galleria
II shopping Center, Edina, Minnesota, Bal Harbour Shops, Bal
Harbour, Florida, Highland Park Shopping Village, Dallas, Texas,
Stanford Shopping Center, Palo Alto, California, El Paseo
Collection North, Pal Desert, California and Zale was the
successful bidder of certain lease covering the premises located
in Sawgrass Mills, Sunrise, Florida, for a purchase price of
$240,000.


MOUNTAIN MINES, INC.: Case Summary
----------------------------------
Debtor:  
Mountain Mines, Inc.
361 Seneca Circle
PO Box 430
Las Vegas, NV 89125
            
Type of Business:  Mining and mining claims holder
Petition Date:  December 17, 1999        
Chapter 11
Court:  District of Nevada                 
Judge:  Robert C. Jones

Debtor's Counsel:  
Michael H. Singer, Ltd.
Michael H. Singer, Esq.
Nevada Bar # 1589
520 S 4th St
Las Vegas, NV 89101
702-384-5563

Total Assets:  $ 16,201,800.00  
Total Debts:    $  4,918,000.00


NAYA INC.: Seeks Bankruptcy Protection
--------------------------------------
Citing an inability to recover from the loss of a core
distributor, spring water bottler Naya Inc. has filed for
bankruptcy protection, according to the Associated Press. Last
week trustee Richter and Associates announced the list of
creditors, who collectively say they are owed $70 million.
Among the largest creditors are the Bank of Montreal, Royal Bank
of Canada and the Quebec Federation of Labour's Solidarity Fund.
According to court documents, of the total owed to creditors,
$55.4 million is secured by assets. Naya, based in Laval, Canada,
filed for temporary bankruptcy protection on Dec. 15. and said it
has had problems since May when Coca-Cola stopped distributing
its product and introduced its own bottled water. This move cut
about 60 percent of Naya's sales. Naya President Stu Levitan
said, "We had to embark on a new system of distribution in the
U.S. and Canada." Now the company uses a combination of direct-
store delivery and retail warehouse delivery. "It took a lot of
money to get this thing seeded, and financing didn't happen as
fast as thought it would," he said. (ABI WORLD 28-Dec-99)


NEVSTAR GAMING: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: NEVSTAR GAMING & ENTERTAINMENT CORP.
        Hughes Airport Center
        313 Pilot Road
        Suite B
        Las Vegas, Nevada 89119

Type of Business: Hotel and Casino
Petition Date: December 1, 1999      
Chapter 11

Court: District of Nevada                  
Judge:  Clive R. Jones
Debtor's Counsel:  
Patrick C. Clary
520 South 4th Street, Suite 360
Las Vegas, Nevada 89101
702-382-0813

Total Assets:   $ 22,200,000
Total Debts:     $ 23,500,000

20 Largest Unsecured Creditors

Zevnick Horton          attorneys                  $ 456,862.75
Nicholas                   food vendor             $ 267,142.02
Sysco                      food vendor             $ 212,112.26
Megafunds               slot progressive fees      $ 127,138.53
McGladery Pullen     CPAs                          $ 88,850.00
Mission Linen           linen company              $ 63,470.92
Mediversal                health insurance         $ 60,440.78
McDonald Carrano    attorneys                      $ 54,994.24
Jones Vargas           attorneys                   $ 47,273.50
Desert Gold             food vendor                $ 31,905.83
Best Western          hotel                        $ 30,968.22
INGO                      workers comp             $ 20,482.00
Cornstock                beverage vendor           $ 20,105.93
Collins Produce        food vendor                 $ 19,220.02
Suburban Propane    propane                        $ 18,747.33
Overton Power         electric                     $ 16,710.44
Nevada Beverage      beverage vendor               $ 14,022.80
Brady Industries       housekeeping supplies       $ 12,251.80
Greyhound Lines      bus line                      $ 11,062.09
Office Depot             office supplies           $ 10,512.67


ONCOR: Disclosure Statement Approved
------------------------------------
On November 12, 1999, the U.S. Bankruptcy Court for the District
of Delaware signed an order approving Oncor, Inc.'s and Codon
Pharmaceuticals, Inc.'s Disclosure Statement regarding their
proposed liquidating chapter 11 plans. The Bankruptcy Court has
scheduled a hearing to consider confirmation of the Plans on
January 12, 2000, at 12:30 p.m., Eastern Time, in the Courtroom
of the Honorable Joseph J. Farnan, Jr., Chief United States
District Court Judge, 844 King Street, Wilmington, DE
19801.

Under the company's Plan, as proposed, all equity interests in
Oncor would be cancelled without payment or consideration. In
addition, the proposed company Plan provides for the payment of
administrative expenses and priority tax claims in cash in full,
and for the partial payment of all other claims (other than those
related to the company's equity interests).

For a summary of the Plan of Reorganization and the Disclosure
Statement access http://www.sec.gov/cgi-bin/srch-
edgar?0000950116-99-002303 free of charge, on the Internet.


PENNCORP FINANCIAL: Shareholders Direct Liquidation
---------------------------------------------------
ABI WORLD 28-Dec-1999 - A group of PennCorp Financial Group Inc.
preferred shareholders said the company's management told it that
the board intends to sell the company's Dallas operations and
liquidate the parent in a bankruptcy proceeding, The Wall Street
Journal reported today. In documents filed with the Securities
and Exchange Commission, the shareholder group said it objected
to management's plan and a proposed restructuring, and that it
has held talks with a consortium of lenders on arranging
financing in "short order." The shareholder group intends to
prevent the liquidation through any steps necessary, including
litigation. The board announced its plans at a Dec. 21
meeting. The group said that the sale plan "severely undervalues"
the Dallas assets and that a bankruptcy filing would have a
"devastating and irreversible effect" on the company's value.


PHYSICIAN COMPUTER: Requests Final Date For Proofs of Claim
-----------------------------------------------------------
Physician Computer Network, Inc. and its affiliates seeks entry
of an order fixing a final date for filing proofs of claim and
scheduling the meeting of creditors.  The company has reached an
agreement for the sale of substantially all of its assets to MMHS
and Medical Manager Corporation for $53 million in cash and
common stock.  The debtor requests that the court entrer a
proposed order fixing February 14, 2000 at 5:00 PM as the last
date and time by which proofs of claim and proofs of interest
must be filed; snd scheduling February 7, 2000 as the date and
time for the Creditors Meeting.


RENAISSANCE COSMETICS: Committee Taps E&Y Restructuring
-------------------------------------------------------
The Official Committee of Unsecured Creditors of Renaissance
Cosmetics, Inc., et al. applied for authority to employ E&Y
Restructuring LLC.  

If approved, the firm will provide the following services:

Analyze the current and historical financial position of each of
the debtors;
Analyze payments made to creditors 90 days prior to the filing
for potential preferences;
Analyze payments made to insiders one year prior to the filing
for potential  preferences;
Evaluate the parent-subsidiary and inter-subsidiary
relationships;
Analyze intercompany transactions.

E&Y Restructuring LLC was formed October 1, 1999 when the
restructuring and reorganization group of Ernst & Young LLP
separated from Ernst & Young LLP.


SEMI-TECH: Seeks Extension of Exclusivity
-----------------------------------------
The debtors, Graeme Limited, Semi-Tech Corporation and ISTM
Investments (Barbados) Inc., seek an order extending the
exclusive periods during which the debtors may file a Chapter 11
plan or plans and solicit acceptances thereof for an additional
90 days through and including April 4, 2000 and June 5, 2000,
respectively.  The debtors state that the cases are sufficiently
large and complex to warrant an extension of the Exclusive
Periods.  There are at least several hundred million dollars of
claims against the debtors and tens of millions of dollars in
assets in their estates.  There is also the possibility of
extensive litigation which may involve attempts to recover many
times that amount for distribution to creditors.  There are
questions concerning several transactions involving large sums of
money.  In addition, Semi-Tech is in the midst of an audit by the
Canadian taxing authority, Canada Customs and Revenue Agency.  
The debtors have not yet had an opportunity to negotiate an
acceptable plan with the various interested parties, and the
debtors therefore seek these extensions.


STARMET: Interests In Common Stock Reported
-------------------------------------------
The following group members, solely for investment purposes, have
acquired the following interest in the common stock of Starmet
Corporation:

Melvin B. Chrein -  202,300 shares   
4.22% of the outstanding shares
Meryl J. Chrein -   245,800 shares   
5.13% of the outstanding shares
Marshall J. Chrein-  35,900  shares   
.75% of the outstanding shares
Michael Chrein-      18,100 shares    
.38% of the outstanding shares
Wiaf Assosiates Co.-1,935,937 shares
40.41% of the outstanding shares
Charles Alpert-      50,000 shares   
1.04% of the outstanding shares
Joseph Alpert-       50,000 shares   
1.04% of the outstanding shares

Total- 2,538,037 shares   
52.98% of the outstanding shares


There is no shared voting power or dispositive power among the
members of the group.

Effective as of September, 1999, the group filings with the
Securities & Exchange Commission has been dissolved.  All further
filings with respect to transactions in the securities of
Starmet, Inc. will be filed, if required, by members of the
group, in their individual capacity.


SUN HEALTHCARE: Committee Taps Houlihan Lokey
---------------------------------------------
The Official Committee of Unsecured Creditors asks Judge Walrath
for permission to retain Houlihan Lokey Howard & Zukin Financial
Advisors, Inc., as its financial advisors, nunc pro tunc to
November 4, 1999.  Specifically, in exchange for a $150,000
monthly fee, HLHZ will:

(a) assess the financial issues and options concerning any
proposed business plan of the Debtors;

(b) advise and assist the Committee in preparing and reviewing
strategic options, business plans and financial projections;

(c) prepare, analyze and explain the terms of any proposed plan
to various constituencies;

(d) assist the Committee in its negotiations with the Debtors
and/or other parties in interest concerning the terms of any
proposed plan;

(e) provide testimony in Court on behalf of the Committee, if
necessary; and

(f) provide the Committee with any other necessary services as
the Committee or the Committee's counsel may request from time to
time with resect to the financial business and economic issues
that may arise.

Managing Director P. Eric Siegert leads the engagement from
HLHZ's office in Minneapolis.  Assuring Judge Walrath that he and
his firm represent no interest adverse to the Debtors' estate,
Mr. Siegert discloses that HLHZ represents many of the Debtors'
creditors and Lenders in matters wholly unrelated to the Debtors'
chapter 11 cases. (Sun Healthcare Bankruptcy News Issue 7;
Bankruptcy Creditor's Service Inc.)


UNITED COMPANIES FINANCIAL: Equity Objects To Sale of Note
----------------------------------------------------------
The Official Committee of Equity Security Holders objects to the
motion of the debtors, United Companies Financial Corporation, et
al. for authority to sell a certain note to United General
Financial Services, Inc. for approximately $1.55 million.

The debtors state that the principal balance of the Note as of
November 30, 1999 was approximately $2.07 million.  The debtors
also state that accrued and unpaid interest is in excess of
$620,000.  The sale price represents 58% of the outstanding
principal and interest.

The Equity Committee states that it does not have enough
information to determine if the sale is in the best interest of
the estates. The committee also states that the motion contains
no information with respect to whether the business and financial
covenants are being complied with and, whether the value of the
stock of UGT pledged to secure the note affords adequate
assurance that all obligations under the Note will be paid as and
when due.
   
                    *********

A listing of Meetings, Conferences and Seminars appears each
Tuesday in the TCR.

Bond pricing, appearing each Friday, is supplied by DLS Capital
Partners, Dallas, Texas.  

                  *********

S U B S C R I P T I O N   I N F O R M A T I O N     

Troubled Company Reporter is a daily newsletter, co- published
by Bankruptcy Creditors' Service, Inc., Trenton, NJ, and Beard
Group, Inc., Washington, DC.  Debra Brennan, Yvonne L. Metzler,  
Marlen O. Del Mar and Ronald Ladia, 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
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