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[Commentary] © 2003 Philip Hyde, The Timesizing Wire™, Box 622 Cambridge MA 02143 USA (617) 623-8080

Bankruptcies, Sept-Dec/2003


12/31/2003  1 bankruptcy mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times -

12/29/2003  1 bankruptcy mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times - 12/26/2003  1 bankruptcy mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times - 12/24/2003  1 bankruptcy mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times - 12/23/2003  1 bankruptcy mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times - 12/22/2003  1 bankruptcy mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times - 12/18/2003  1 bankruptcy mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times - 12/17/2003  1 bankruptcy mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times - 12/15/2003  1 bankruptcy mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times - 12/11/2003  1 bankruptcy mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times - 12/09/2003  1 bankruptcy mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times - 12/05/2003  1 bankruptcy mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times - 12/03/2003  2 bankruptcies mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times -
  1. Michael G. Tyson, and Mike Tyson Enterprises Inc...Chapter 11, legal notice, NYT, C8.

  2. FAO Inc. to file for bankruptcy, pointer digest (to C6), NYT, C1.
    ...owner of the F.A.O. Schwarz toy stores, plans to file for bankruptcy protection a second time and...immediately liquidate its 89 Zany Brainy stores....
    [It's the toxic takeover-bankruptcy connection - since it follows close on RightStart's 2002 takeover of FAO Schwartz for $155m, plus assets of the bankrupt Zany Brainy chain. (RightStart subsequently namechanged to FAO Inc.)]

12/02/2003  1 new bankruptcy mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times - 11/28/2003  2 bankruptcies mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times -
  1. The Gingiss Group Inc. et al...Chapter 11 jointly, legal notice, WSJ, B5.
  2. Onse Telecom - Debtor in foreign proceedings...Sec.304, Bankruptcy Code, legal notice, WSJ, B5 (//NYT, C2).
11/26/2003  1 bankruptcy mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times - 11/25/2003  2 bankruptcies mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times
(not counting Enron item, "Bankruptcy examiner finds Enron's top leaders neglectful," NYT, C13) -
  1. Clift Holdings LLC...Chapter 11, NYT, C9.
    [Though, of course, this may be none other than 8/16-18/2003 #1.]
  2. Pan Pharmaceuticals Ltd...liquidation, WSJ, C12.
11/22/2003  2 bankruptcies mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times -
  1. Republic Engineered Products Holdings LLC et al...Chapter 11, legal notice, WSJ, B6.
  2. Drax Holdings Ltd...Bankruptcy Code Sec.304 Foreign Proceeding, legal notice, WSJ, C2.
11/20/2003  2 bankruptcies mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times -
  1. Minnethan Land Investors Co...Chapter 11, legal notice, C5.

  2. Qwest is seeking, pointer summary (to B4), WSJ, front page.
    ...to buy Allegiance Telecom out of bankruptcy proceedings for about $350m and assumed debt.
    [First we've heard that it was in.]

11/19/2003  1 liquidation mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times -
  1. Friends Ivory & Sime Trust Co...liquidation, legal notice, WSJ, B10.
    [Sime or Slime?]
11/18/2003  1 bankruptcy and 1 liquidation mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times -
  1. Mississippi Chemical Corp. et al...Chapter 11, legal notice, WSJ, B10.
  2. Black Sea & Baltic General Insurance Co. Ltd...liquidation, legal notice, WSJ, B10.
11/15/2003  2 bankruptcies and 1 liquidation mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times -
  1. Metatec Inc...11 USC, legal notice, WSJ, B8.
  2. Phylos Inc...Chapter 11, legal notice, WSJ, B8.
  3. Reciprocal of America and the Reciprocal Group...liquidation, legal notice, WSJ, B8.
11/14/2003  3 bankruptcies mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times -
  1. Satellite provider to leave bankruptcy, Bloomberg via NYT, C2.
    StarBand Communications, a provider of high-speed satellite Internet service to American homes and small businesses, has won a judge's approval of its plan to leave bankruptcy protection.... StarBand listed about $58m in assets and $229m in debts in its Chapter 11 petition.
    [Didn't catch this one before. 229-58= $171m net debt.]

  2. Smart World Technologies LLC et al...Chapter 11 consolidated, legal notice, NYT, C5.

  3. Raymark (Industries) Corp/Inc...Chapter 11 jointly, legal notice, NYT, C5.

11/13/2003  2 bankruptcies mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times -
  1. J.A. Jones Inc. et al...Chapter 11 jointly, legal notice, WSJ, B7.
  2. Cross Media Marketing Corp. et al...Chapter 11 jointly, legal notice, NYT, C6.
11/12/2003  1 bankruptcy mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times - 11/11/2003  1 bankruptcy mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times - 11/10/2003  1 bankruptcy mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times - 11/07/2003  5 bankruptcies mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times -
  1. Halliburton Co - Agreement affirms cash cap on asbestos settlement deals, WSJ, C11.
    ...The company also said a major unit, which includes Kellogg, Brown & Root, will file for bankruptcy court protection next month. The deal...gets back on track to close the books on a legal morass....
    [Halliburton Co. alias "Quagmires 'R Us."]

  2. Alliance Communications LLC et al...Chapter 11 jointly, legal notice, WSJ, B7.

  3. Chi-Chi's Inc et al...Chapter 11 jointly, legal notice, WSJ, B7.

  4. JB Stores Inc f/k/a Jacobson Stores Inc et al...Chapter 11 jointly, legal notice, WSJ, B7.

  5. Radio Unica Communications Corp et al...Chapter 11 jointly, legal notice, WSJ, B7 (//NYT, C2).

11/04/2003  1 bankruptcy mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times - 11/01/2003  4 bankruptcies mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times -
  1. Alliance Communications (Partners) LLC, Delta Video Cable Inc, Piggott Cable TV Co...Chapter 11, joint legal notice, WSJ, B6.

  2. AM Communications Inc, et al...Chapter 11, joint legal notice, WSJ, B6.

  3. American Commercial Lines LLC...Chapter 11, joint legal notice, WSJ, B6.

  4. Eveleth Mines LLC dba EVTAC Mining Co...Chapter 11, joint legal notice, WSJ, B6.
    [addditional alias -]
    ...dba...Thunderbird Mining Co...Chapter 11, joint legal notice, 11/10/2003 WSJ, B6.

10/31/2003  1 bankruptcy mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times -
  1. Bob's Stores Inc. et al...Chapter 11, legal notice, NYT, C7.
    [This "et al" ijncludes BSI Holding Co. Inc. according to legal notice in 6/15/2004 WSJ, B9.]

10/30/2003  3 bankruptcies mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times -
  1. Channel Master ((International) Holdings) Inc/LLC...Chapter 11, legal notice, WSJ, B9.

  2. First Interregional Advisors Corp...Chapter 11, legal notice, NYT, C6.

  3. Varco Pruden International Inc, VP Buildings/Graham Inc, United Panel Inc, LTV Blanking/Walbridge, LTV Steel de Mexico Ltd, ...Chapter 11, joint legal notice, WSJ, B9.
    [Note we caught the main LTV bankruptcy on 12/30/2000 #1.]

10/29/2003  1 bankruptcy mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times - 10/28/2003  3 bankruptcies mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times -
  1. NRG McClain LLC...Chapter 11, legal notice, WSJ, B14.
    [For NRG Energy, see 11/08/2002 #1 and note in uncounted section below on 5/15/2003.]

  2. Trenwick America Corp. et al...Chapter 11, legal notice, WSJ, B14.

  3. Quin-T Corp. - New Hampshire...Chapter 11, legal notice, NYT, C7.

10/25-27/2003  2 bankruptcies mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times -
  1. 10/25 Orbital Imaging, NYT, B5.
    ...Dulles VA, an operator of satellites that photograph the earth's surface and atmosphere, had a bankruptcy judge approve its reorg plan calling for ownership to be turned over to the company's creditors.

  2. 10/27 TriTeal Corp...Chapter 11, legal notice, WSJ, B4.

10/23/2003  1 bankruptcy mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times - 10/22/2003  2 bankruptcy equivalents mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times -
  1. Met-Coil Systems Corp...Chapter 11, legal notice, WSJ, C11.

  2. Flag Telecom Holdings Ltd, Flag Atlantic (Holdings) Ltd...liquidation, legal notice, NYT,C8.

10/21/2003  1 bankruptcy mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times -
  1. DDI Corp...Chapter 11, legal notice, WSJ, A22.
10/20/2003  2 bankruptcy equivalents, mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times -
  1. Horizon Insurance Co..\..liquidation, legal notice, NYT, C11.
  2. County Seat Limited Partnership...Chapter 11, legal notice, NYT, C11.
10/17/2003  6 bankruptcies, mentioned in (WSJ) Wall Street Journal & (NYT) NY Times -
  1. Orange Plastics, legal notice, WSJ, B6.

  2. Livent (US) Inc et al...Chapter 11, legal notice, NYT, C2.

  3. Irwin Toy Ltd, Irwin Toy USA Inc, Irwin International (Barbados) SRL, collectively...Ontario, legal notice, WSJ, B6.

  4. Coram Resource Network Inc, Coram Independent Practice Assoc. Inc...Chapter 11, legal notice, WSJ, B6.
    [Compare 12/23/2000 #1.]

  5. Clearing Services of America Inc...SIPA liquidation, legal notice, WSJ, B6 (//NYT, C7).

  6. Germany: Charter airline collapses, Reuters via NYT, W1.
    ...Aero Lloyd filed for insolvency....

10/14/2003  2 bankruptcies, mentioned in (WSJ) Wall Street Journal & (NYT) NY Times -
  1. Cone Mills Corp...Chapter 11, WSJ, A18.

  2. BRAC Rent-a-Car International Inc. f/k/a Budget Rent-a-Car International Inc...Chapter 11, WSJ, B11, //NYT, C10.

10/11/2003  1 bankruptcy, mentioned in (WSJ) Wall Street Journal & (NYT) NY Times -
  1. Chevys restaurants....Chapter 11, NYT, B4.
10/10/2003  1 bankruptcy, mentioned in (WSJ) Wall Street Journal & (NYT) NY Times -
  1. O-Cedar Holdings Inc. et al...Chapter 11, legal notice, WSJ, B7.
10/09/2003  7 bankruptcies, owing est. $26m +??, mentioned in (WSJ) Wall Street Journal & (NYT) NY Times -
  1. Prandium Inc. - Two restaurant subsidiaries file for bankruptcy protection, WSJ, B10.
    Restaurant chain...Chi-Chi's Inc...filed for Chapter 11 [with] est. total assets of $50-100m [call it $75m] and total debts of more than $100m [call it $101m]..\..
    [Let's estimate the net debt at 101-75= $26m.]
    12 other affiliates of Chi-Chi's also filed....
    [No namee, no countee.]

  2. Prandium Inc. - Two restaurant subsidiaries file for bankruptcy protection, WSJ, B10.
    Restaurant chain...Koo Koo Roo Inc...filed for Chapter 11 [with] total assets of $1-10m and total debts of $1-10m....
    [It's a scrub.]

  3. Prandium Inc. - Two restaurant subsidiaries file for bankruptcy protection, WSJ, B10.
    ...Prandium Inc...emerged from its own bankruptcy case in July 2002....
    [We didn't catch the parent's bankruptcy so we'll count it now. Outraged at our thusly 'exaggerating' the bad news ? Note the 12 we didn't count in item #1 above.]

  4. Hitachi Seiki USA, Inc...Chapter 11, legal notice, NYT, C2.

  5. Data Transmission Network Corp, et al...Chapter 11, legal notice, WSJ, B11.

  6. Arig Insurance Co. Ltd...Bermuda, legal notice, WSJ, B11.

  7. Hampton Re Holdings Ltd...liquidation...Bermuda, legal notice, WSJ, B11.

10/08/2003  a general economywide bankruptcy mention, in (WSJ) Wall Street Journal & (NYT) NY Times - 10/07/2003  1 compound foreign bankruptcy, mentioned in (WSJ) Wall Street Journal & (NYT) NY Times -
  1. Marlon Insurance Co. fka Skandia Marine Insurance (UK) and Vesta (UK) Insurance; National Insurance & Guarantee; and Riverstone (Stockholm) Insurance Corp. fka Odyssey Re and Amphion-Aequitas Re...Section 304 [simultaneous], WSJ, B2.
10/06/2003  1 bankruptcy + 1 liquidation, mentioned in (WSJ) Wall Street Journal & (NYT) New York Times -
  1. Ogden New York Services Inc. at al...Chapter 11, NYT, C8.
  2. Whiting National Insurance Co..\..liquidation, NYT, C8.
10/02/2003  1 compound bankruptcy, mentioned in (WSJ) Wall Street Journal & (NYT) New York Times - 9/30/2003  3 bankruptcies, owing $127.3m +??, mentioned in (WSJ) Wall Street Journal & (NYT) New York Times -
  1. Impath Co. - Bankruptcy filing is made amid debt of $127.3m, WSJ, D8.
  2. James River Coal Co. et al...Chapter 11, WSJ, B11 (//NYT, C6).
  3. APP China Group, NYT, C16.
9/24/2003  2 bankruptcies, mentioned in (WSJ) Wall Street Journal & (NYT) New York Times -
  1. Botanicals International Extracts Inc, Hauser Inc, et al...Chapter 11, WSJ, B13.
  2. Kingdom Group LLC...Chapter 7, WSJ, B13.
    [So they're dissolving the Kingdom?!]
9/23/2003  1 bankruptcy, mentioned in (WSJ) Wall Street Journal & (NYT) New York Times - 9/22/2003  1 bankruptcy, mentioned in (WSJ) Wall Street Journal & (NYT) New York Times - 9/19/2003  1 bankruptcy, mentioned in (WSJ) Wall Street Journal & (NYT) New York Times - 9/17/2003  1 bankruptcy, mentioned in (WSJ) Wall Street Journal & (NYT) New York Times - 9/16/2003  2 bankruptcies, owing $1.76B +??, and 3 closures mentioned in (WSJ) Wall Street Journal & (NYT) New York Times -
  1. NorthWestern Corp. is seeking bankruptcy protection, Bloomberg via NYT, C4.
    ...a Montana utility owner and energy trader...based in Sioux Falls, S.D. [huh?]..\..with $1.76B of debt...Chapter 11....

  2. Fansteel Inc...Chapter 11, WSJ, B15.

  3. Facing huge debt, large farm co-op is closing down - Farmland Industries [Kansas City, Mo.] battled major food conglomerates, NYT, C1.

  4. Company [Scotland's PPL Therapeutics] that cloned sheep [Dolly, '96] to sell assets and shut down, NYT, W1.

  5. Professional women's soccer folded, WSJ, front page.
    ...The Women's United Soccer Assoc.

9/13/2003  2 corporate bankruptcies mentioned in (WSJ) Wall Street Journal & (NYT) New York Times
(not counting general personal bankruptcy story, "Two incomes, one bankruptcy - Reexamining the agony of the middle class - The modern working family is working without a net - just one layoff, medical crisis, or divorce away from financial disaster," by Christopher Shea, 9/14/2003 Boston Globe, D1, flagged by colleague Kate, which states, "Elizabeth Warren, who teaches bankruptcy law at Harvard, and her daughter Amelia Tyagi...in 'The Two Income Trap: Why Middle-Class Mothers and Fathers Are Going Broke' (Basic Books) [say] "Every...report on consumer debt or bankruptcy blames...frivolous buying [but] our data show" the single biggest predictor that financial failure lies ahead [is] having children. Even just one of them. [So] plan your budget so that you could get by on one income in a crisis, they say. Fixed costs and regular payments are your enemy. ...Resist the urge to stretch the budget to get into the perfect [school district]. And...don't have kids.") -
  1. Atlas Air Worldwide Holdings expects to file prepackaged Chapter 11, NYT, B4.
    [associated names -]
    Atlas Worldwide Aviation Logistics Inc., Atlas Air Inc., Atlas Worldwide Holdings Inc., Polar Air Cargo Inc., Airline Acquisition Corp., 2/18/2004 WSJ, C15.

  2. Snyder's Drug Stores files for [Ch.11] bankruptcy, NYT, B4.

9/12/2003  1 bankruptcy mentioned in (WSJ) Wall Street Journal & (NYT) New York Times - 9/11/2003  2 new bankruptcies mentioned in (WSJ) Wall Street Journal & (NYT) New York Times -
  1. Micro Warehouse, NYT, C3.
    ......Norwalk, Conn...filed for bankruptcy protection.

  2. Hollywood publisher seeks bankruptcy after losing suit, NYT, C2.
    ...New Millennium Entertainment....

9/10/2003  1 bankruptcy mentioned in (WSJ) Wall Street Journal & (NYT) New York Times - 9/06-08/2003  2 bankruptcies mentioned in (WSJ) Wall Street Journal & (NYT) New York Times -
  1. 9/06 Rowe International Inc., Grand Rapids MI...jukeboxes...Chapter 11...$82m in debt, NYT, B4.

  2. 9/08 New Bedford Capacitor Inc. f/k/a Aerovox Inc...Chapter 11, WSJ, B10.

9/05/2003  1 bankruptcy mentioned in (WSJ) Wall Street Journal & (NYT) New York Times -
  1. Twinlab Corp., WSJ, B6.
    ...of Hauppauge NY....[91.5-116.5= $25m debt]..\..Chapter 11...in Manhattan....
    [At last! - after multiple conditional announcements.]
9/02/2003  3 bankruptcies mentioned in (WSJ) Wall Street Journal & (NYT) New York Times -
(not counting general "Rules seek to reduce tax breaks retained after bankruptcies," WSJ, A4) -
  1. The Museum Co...Chapter 11, WSJ, B4.
  2. San Francisco Music Box Co...Chapter 11, WSJ, B4.
  3. SFMB Acquisition Corp...Chapter 11, WSJ, B4.
For earlier bankruptcy stories, click on the desired date -

  • May-Aug/2003.
  • Jan-Apr/2003.
  • Oct-Dec/2002.
  • Jul-Sep/2002.
  • Apr-Jun/2002.
  • Jan-Mar/2002.
  • Aug-Dec/2001.
  • Mar-July/2001.
  • Jan-Feb/2001.
  • Dec/2000.
  • Oct-Nov/00.
  • Jul-Sep/00.
  • Jan-Jun/2000.
  • Aug-Dec/1999.
  • Prior to July 31/99.

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