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color='#000000'>May 2, 2000 |
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style='color:black'>Press Conference To Be Held Today on H.R. Paul Wellstone (D-Minn.) senators will hold a news this morning to discuss to bankruptcy revision currently pending in the 833). The results of the will be sent via an ABI to ABI members later today, be posted in tomorrow's
style='color:black'>Texas Cargo Airline Kitty Hawk Declares style='color:black'> Hawk, an air cargo business at Dallas/Fort Worth it and all of its filed for chapter 11 the Northern District of Fort Worth, the Worth Star Telegram The company, which operates the west cargo area of D/FW reported book value assets million and debts of $512 as of March 31, citing a for air freight and that ran higher than was a cash flow Fort Worth bankruptcy D. Penn of Haynes and which represents Kitty earlier, the company's founder M. Tom Christopher and chief executive, who airline in 1975. His shortly after the abrupt of Paul Tate, who joined on April 1 as senior vice and chief financial Kitty Hawk announced that had resigned from the Board on Saturday. The company make a $17 million interest on debt due May 15, and is on $35 million in plane company operates 105 owned aircraft, has 2,290 operates freight cargo 50 cities through its hub Wayne, Ind. Kitty Hawk that it was suspending its business, which primarily daily service between Los and Honolulu and weekly the Pacific Rim. Haynes and attorneys normal'>Robert D. Albertgotti and B. Foster are also the case. normal'>
style='color:black'>TransCoastal Marine's GMP Unit Files Chapter Marine Services Inc.'s GMP International Inc. unit yesterday it had filed a chapter 11 petition, a newswire report. said the action was million in claims made company by Chevron Global Services Co. relating to fabrication of platforms installed and operating totaling $86 million. said it believes Chevron's are unfounded and without that Chevron's pursuit of has made it impossible for Marine to complete a that would allow an equity into Dickson. TransCoastal sells pipeline installation services.
style='color:black'>P-SUB I Announces Voluntary Chapter 11 Mortgage Investment Co. yesterday that P-SUB I wholly owned subsidiary and operates two shopping in San Francisco's North filed for chapter 11 on to a newswire report. P-SUB it filed in order to equity pending a resolution company's differences with lender, Ocwen Federal Bank, purchased a secured I Inc. from a previous P-SUB I said it believes loan maturity is June 1, asserts that the loan and is now in default. in discussions with of replacement financing TIS Mortgage Investment Co. Francisco-based real estate trust (REIT) that, through companies, owns and communities in California's Valley and shopping centers Francisco's North Bay
style='color:black'>Motorola Still Hoping to Sell Iridium Motorola Ill., yesterday it still hoped to buyer for Iridium LLC, the troubled satellite it bankrolled, and said have not yet been to Reuters. "It is in right now where it is still said Robert Growney, and chief operating very soon we will see a new of Iridium
plans announced in March called for them to be taken orbit, Growney said that 66 satellites, which allow make phone calls from the world, were still in functional. Iridium filed in August after it failed up enough subscribers and on more than $1.5 billion Critics of the $5 billion have said it was too pricey Iridium misjudged the rapid of cheaper, land-based which made a satellite for many potential had announced in March that to attract a qualified unsuccessful, and it would its satellites out of was the primary financial Iridium and also owns percent stake in the million plan by cellular Craig McCaw to rescue the fell through in March when his proposal. Later in software and e-commerce it had offered a plan to from bankruptcy; a financial rescue proposal are reported to be
style='color:black'>Tower Air Discontinues Passenger Service Air, which filed for earlier this year, it has discontinued its passenger service out of International Airport in the Associated Press at the airline's operations said the airline stopped flights at 6:30 p.m. the airline planned to military and charter flight "My understanding is announced they're ceasing flights," said The of New York and New Jersey Alan Morrison. Tower Air filed for chapter 11 in the U.S. Bankruptcy Court Del. 'mso-bidi-font-weight:normal'> style='color:black'>Daewoo Motor Workers End Strike officials announced today workers at South Korea's Co. have returned to work main plant as talks with have begun over wages, Reuters. "The union with management for the today," said Kim union spokesman for Daewoo main plant in Pupyong, west "Management said on they will negotiate wage with the union." through months of disputes unions and walkouts at its in April as workers creditors halt plans to company off to a foreign Daewoo is one of 12 Daewoo put on debt restructuring last August by creditors out the companies as they bankruptcy with liabilities $30 billion larger than Creditors plan to sell the to a foreign car company by
style='color:black'>Former Maryland Attorney Sentenced in Mail and Fraud Scheme A. Bataglia, U.S. Attorney District of Maryland; W. McDow Jr., U.S. Trustee for 4; and Richard M. Mosquera, Agent in charge of the of Investigation (FBI) week that former Maryland Pamela Lyles and her John Edmond, both of were sentenced on April 24 involvement in a mail and fraud scheme that netted $27,000 in fees from debtors who paid the fees of legal services not Lyles, the U.S. Department reported. Chief U.S. Judge J. Frederick Motz Lyles to 13 months in to eight months; both Lyles pleaded guilty to one count fraud in connection with on Jan. 12. The when the U.S. Trustee's asked to look into the practices of Lyles and said he was a paralegal Lyles. An FBI-led that Lyles solicited U.S. mail by advertising legal services, then filed misleading and inaccurate petitions on behalf of responded to the ad and fees to Lyles. Lyles had from practicing bankruptcy the District of Maryland but never disclosed that to clients. "It was an to the bankruptcy court and entire bankruptcy U.S. Attorney Lynne A. who added that the U.S. Office considered the case the most egregious in the of the bankruptcy court. most of all, it was an bankruptcy debtors, all of their faith and trust in Pamela Lyles to help them the financial distress Lyles and Edmond were $27,000 in restitution to debtors known to have been by them. align='center'>
Health Seeks Nod to Settle Claims Integrated Health Services court approval of a Senior Housing Properties will eliminate the landlord's claims, which aggregate over and save the health care $16.97 million per year as a of the conveyance of its certain health care the agreement, Integrated its interest in 37 health to Senior Housing (SNH) while its interest in two other SNH In exchange, SNH will release claims it may have pursuant leases and mortgages the facilities. These claims mortgage debt aggregating in of $35 million and arrearages in excess of $2 href='http://www.fedfil.com/bankruptcy/developments.htm'>The Review Copyright ©
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