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/raid1/www/Hosts/bankrupt/TCR_Public/980622.MBXT R O U B L E D C O M P A N Y R E P O R T E R Monday, June 22, 1998, Vol. 2, No. 121 Headlines AMERITANK: Judgment Drives KCK Firm Into Chapter 11 ANESTHESIA SOLUTIONS: Files Chapter 11 Petition DAKOTA MINING: Subsidiaries File for Bankruptcy Protection DIXONS US HOLDINGS: Bar Date Set for August 4, 1998 DOW CORNING: Breast implant settlement reported near ELDER-BEERMAN: Plans Stock Offering FPA MEDICAL: CEO Says Bankruptcy Remains Option FPA MEDICAL: Ratings Lowered FPA MEDICAL: Stops Paying Doctors FINANCIAL WORLD: Magazine Shut Down HARVARD INDUSTRIES: Seeks Nod For $10M Termination Pact IPM: Files for Chapter 11 Bankruptcy Protection LIBERTY HOUSE: Board Suit Moved To Bankruptcy Court MAIDENFORM: Sues Sara Lee For Trademark Infringement TEWKSBURY INDUSTRIES: NEMR Purchases Assets OMNIS TECHNOLOGY: Does Not Expect to RePay $1 M Note ONE-STOP WIRELESS: Seeks Extension of Exclusivity ONEITA INDUSTRIES: Taps Carl Marx PHILIPPINE AIRLINES: Seeks Protection From Creditors SYSTEMS COMMUNICATIONS: Involuntary Petition Filed TODAY'S MAN: Files Registration Statement TOTAL-MULTIMEDIA: Announces Final Order VOXEL: Bankruptcy Prompted By Arbitration Award WORLDCORP: Sends Letter to 7% Debenture Holders DLS CAPITAL: Bond Pricing for Week of June 15, 1998 ********* AMERITANK: Judgment Drives KCK Firm Into Chapter 11 --------------------------------------------------- Ameritank Inc., a maker of truck-mounted fuel and propane tanks formerly known as T.S.I. Holdings Inc., has filed for Chapter 11 protection. The Kansas City, Kan.-based company listed assets of $24 million and liabilities of $30 million. The company employs about 240 workers at eight locations around the country, including two in KCK and one in Kansas City. The company's skeletal May 29 filing in U.S. Bankruptcy Court in KCK did not break down its liabilities into secured and unsecured claims. Its largest secured creditor, however, is Bank One Indiana, which is owed $11.14 million plus interest. The bank has agreed to let Ameritank use funds securing its loans to meet the company's day-to-day expenses. In exchange, the bank has been granted a senior lien on Ameritank's assets. Ameritank's bankruptcy lawyer said the Chapter 11 filing was triggered by a $4 million court judgment last November against the company and its previous owners, Melvyn Paul and Phillip Hodes. The judgment resulted from a breach-of-contract action brought by local orthopedic surgeon Roger Hood and Lawrence Jenkins, a former executive with Farmland Industries Inc. and Food Barn Inc. The two contracted several years ago to buy what was then known as T.S.I. from Paul. They claimed that Paul, in violation of the agreement, shopped T.S.I. around to Citibank and its venture capital arm, Citicorp Venture Capital,resulting in the sale's collapse. The company is now owned by Triacq Corp., which consists of venture capitalists who include Kansas City investors Bart Cohen and Pat Curran. The group acquired the company and its subsidiaries in 1996 and renamed it Ameritank Inc. (Kansas City Business Journal; 06/12/98) ANESTHESIA SOLUTIONS: Files Chapter 11 Petition ----------------------------------------------- EquiMed, Inc. (Nasdaq: EQMDE) announced today that its wholly owned subsidiary, Anesthesia Solutions, Inc. has filled a voluntary petition for reorganization in U.S. Bankruptcy Court, Harrisburg, PA. The petition seeks relief under Chapter 11 of the U.S. Bankruptcy Court. The proceeding does not otherwise apply to EquiMed, Inc. or to any of its other assets. DAKOTA MINING: Subsidiaries File for Bankruptcy Protection ---------------------------------------------------------- Dakota Mining Corporation Of Canada Filed SEC form 8K reporting that two of its subsidiaries, USMX of Alaska Inc. and USMX Inc., filed for protection under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Colorado on May 21, 1998. USMXAK is the sole gold producing subsidiary of Dakota. The Company also reported that it was unsuccessful in selling its assets, attracting a merger partner or securing alternative financing. Dakota and its subsidiaries are in default under terms of agreements with their respective lenders. However, creditors, including lenders, have not taken any actions against Dakota or its subsidiaries. Among other things, Dakota has an interest payment due to the holders of their 7.5% Convertible Subordinated Debentures on June 30, 1998 in the amount of $640,721 (Cdn.$929,795). The Company does not currently nor expects to have the funds adequate to service this payment. The Company was unable to fulfill its reporting requirements to file, among other things, audited financial statements for the period ending December 31, 1997. As a result, the Ontario Securities Commission filed a temporary order and hearing to cease trading of the Company securities on the Toronto Stock Exchange. Dakota does not intend to contest the Commission's order. The result would be a voluntary suspension of trading in the shares of the Company until such time as the listing requirements can be satisfied. On May 29, 1998, the State of South Dakota obtained a Temporary Restraining Order ("TRO") against a subsidiary of Dakota, Brohm Mining Corp. The TRO requires Brohm to continue to operate water treatment systems at the Gilt Edge mine in accordance with state mine permits. Pending a court hearing scheduled for June 5, 1998, the Company intends to comply with this order. DIXONS US HOLDINGS: Bar Date Set for August 4, 1998 --------------------------------------------------- The debtors , Dixons US HOldings, Inc. and its affiliated companies filed a notice of a Bar Date fixed by the court. The deadline for filing proofs of claims agains Dixons US Holdings Inc. and any of its affiliated companies is August 4, 1998. DOW CORNING: Breast implant settlement reported near ----------------------------------------------------- Duke University Law Professor Francis McGovern, the court- appointed mediator, says a settlement may be reached soon in the dispute over how much Dow Corning Corp. should pay women who claim the company's breast implants made them sick. Dow Corning has offered up to $3 billion to settle claims from thousands of women as part of its 3-year-old effort to emerge from Chapter 11 bankruptcy. But attorneys for the women are trying to win a better deal. McGovern has been seeking a resolution since November. His term as mediator is set to expire June 30. Dow Corning wants to pay breast implant litigants and other creditors $4.4 billion over 16 years. Attorneys for the women are seeking $3.8 billion over three years. (UPI: Health- 06/19/98) ELDER-BEERMAN: Plans Stock Offering ----------------------------------- Elder-Beerman Stores Corp., bouncing back after two years in bankruptcy reorganization, plans a $75 million stock offering and will buy a West Virginia-based department store company. Elder-Beerman said today that it will buy Stone & Thomas in a $38 million deal that includes repaying Stone & Thomas debt. Elder-Beerman, based in Dayton, said it will incur one-time charges of at least $8 million because of the acquisition. Stone & Thomas, a privately held retailer based in Wheeling, W.Va., operates 21 stores in West Virginia, Virginia, Ohio and Kentucky. The company had net sales of $121.5 million for its fiscal year ended Jan. 31. The retailer will become a wholly owned subsidiary of Elder-Beerman. The transaction is subject to regulatory review and is to be done by July 31, Elder- Beerman said. Elder-Beerman also said it intends to file a registration statement with the Securities and Exchange Commission early next week for a public offering of its common stock worth up to $75 million. Proceeds will be used to repay debt and develop new stores and possible acquisitions of other companies, Elder-Beerman said. The company is to complete the stock offering in August. For fiscal 1997, Elder-Beerman had revenues of $607.9 million. FPA MEDICAL: CEO Says Bankruptcy Remains Option ----------------------------------------------- Dr. Stephen Dresnick, chief executive of FPA Medical Management Inc. said that filing for bankruptcy remains a possibility for the troubled manager of physician practices. He said he did not think a bankruptcy would occur. Dresnick declined to comment on a rumor that the company is considering the assumption of an additional $100 million in debt that would be senior to its existing bank debt, which totals more than $300 million. Taking on more debt is another short-term option FPA is considering because raising money through a stock sale would be very expensive, given that the company's shares are trading below $2, down from a high of nearly $40 last fall. FPA provides health care to about 1.4 million patients through a network of nearly 8,000 doctors. The company typically receives payments from HMOs in exchange for providing physician care to patients. Earlier this week the company was unable to make a $2.6 million payment due to bondholders. FPA now has a 30-day grace period to make the payment, failing which bondholders could demand immediate payment of some $80 million due on its bonds. At least some of the company's bondholders, meanwhile, are offering their paper for sale at cut-rate prices. The debentures for which FPA failed to make payment this week are currently selling for 15 cents to 20 cents on the dollar. The bank notes are for sale at under 70 cents on the dollar. Perhaps most worrisome is that FPA has only enough cash to meet its needs until the end of the month. As of March 31, the company had $12.4 million in cash, cash equivalents and marketable securities. FPA's bank debt was trading in the $60s, while the convertible debentures were quoted as trading between $15 and $20. (San Diego Union Tribune - 06/18/98) FPA MEDICAL: Ratings Lowered ---------------------------- Standard & Poor's CreditWire 6/17/98-- Standard & Poor's today lowered its ratings on FPA Medical Management Inc. to 'D' and withdrew its triple-'C'-plus corporate credit rating on the company. All ratings were removed from CreditWatch, where they were placed May 19, 1998. These actions follow the company's failure to make a $2.6 million interest payment on its $75 million convertible subordinated debentures. The San Diego, Calif.-based company is a leading physician practice management company focusing on primary care and emergency department physicians. The company has been unable to control operations in the midst of a torrid acquisition program of largely unprofitable physician groups. Additionally, FPA Medical entered into several high-risk capitated contracts, including several global capitated contracts where the company assumed the entire cost of the medical care for its beneficiaries, including costs outside the company's direct control. Many of these contracts contributed heavily to the company's unprofitability. As Standard & Poor's stated earlier, FPA Medical is expected to be a user of cash until the fourth quarter 1998 at the earliest. If the company's severe liquidity problems were not rectified promptly, it could lead to a default. The company is continuing to discuss financial alternatives with its creditors and other third parties, Standard & Poor's said. FPA MEDICAL: Stops Paying Doctors --------------------------------- The Wall Street Journal reports on June 19, 1998 that in parts of Claifornia, Nevada and Arizona FPA Medical Management stopped paying some doctors. Some doctors said that payments stopped about two months ago. In March, FPA said it had just $12 million in cash. About $15 million in claims are currently past due, of which roughly 20% has been suspended because of disputes or missing data. On Thursday, stock prices went down 27% to $1.1875. The stock was trading at about $11.50 in mid-May. FINANCIAL WORLD: Magazine Shut Down ----------------------------------- The New York City offices of Financial World magazine were padlocked earlier this week by its landlord, Investment Properties, which claims the magazine's owner, Barry Rupp, owes $85,000 in back rent. The 96-year-old magazine had halted its weekly publication schedule last November but had managed to produce a limited-run edition in May, according to Knight Ridder. (ABI - 19-June-98) HARVARD INDUSTRIES: Seeks Nod For $10M Termination Pact ------------------------------------------------------- Harvard's Doehler-Jarvis Toledo Inc. unit is seeking approval of an agreement with Ford Motor Co. under which Toledo will supply component parts through June 30 for $10 million and reject Ford's remaining purchase orders. Under the agreement, Toledo will also return by Sept. 15 all Ford-owned equipment and machinery used to manufacture the parts and Ford will continue to purchase a certain percentage of parts from Harvard's Doehler-Jarvis Pottstown Inc. affiliate on the same terms governing Ford's current purchase orders, except for price. By entering into the agreement, "Toledo will foster a spirit of cooperation with Ford by providing Ford with the Component Parts during the Transition Period necessary to supply Ford's assembly lines," the auto parts manufacturer said. Federal Filings Inc. 17-June-1998) IPM: Files for Chapter 11 Bankruptcy Protection ------------------------------------------------ International Precious Metals Corporation announced today that it has filed a voluntary petition for reorganization under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for Phoenix, Arizona. LIBERTY HOUSE: Board Suit Moved To Bankruptcy Court --------------------------------------------------- As the legal battle for control of Liberty House's board rolls on, the U.S. District Court in Honolulu moved the suit against the retailer's former directors that touched off the control fight to the bankruptcy court in that city. Although the former board has sued the current directors, installed by the company's banks, in district court, Judge David Alan Ezra said "this does not change the fact that this case is integrally related to Liberty House's Chapter 11 bankruptcy which is currently proceeding in Hawaii's Bankruptcy Court." (Federal Filings Inc. 17-June-1998) MAIDENFORM: Sues Sara Lee For Trademark Infringement ---------------------------------------------------- Maidenform Worldwide Inc. has sued Sara Lee Corp. for trademark infringement of the Instant Slimmer product line and is seeking to block the sale of certain similar shapewear products by Sara Lee's Bali Foundations Inc. unit. "The loss or diminishment of revenues from sales of Instant Slimmer products as a result of Bali's conduct will have a substantial negative impact upon Maidenform's present ability to reorganizesuccessfully," the complaint charges. (Federal Filings Inc. 17-June-1998) TEWKSBURY INDUSTRIES: NEMR Purchases Assets ------------------------------------------- New England Metal Recycling, LLC ("NEMR"), a new scrap metal recycler, announced that as part of a court approved bankruptcy reorganization of Tewksbury Industries, Inc., NEMR has purchased substantially all the assets of Tewksbury. Assets purchased include the auto shredders and other scrap handling equipment previously operated by Tewksbury at its Madbury, New Hampshire and Tewksbury, Massachusetts facilities; and scrap handling equipment formerly operated by Tewksbury at its facilities in Salem, Massachusetts and Portland, Maine. NEMR has already begun operating the shredder facility in Madbury, New Hampshire and is in the process of opening the Tewksbury, Massachusetts facility as a scrap metal recycling collection center. Tewksbury, which began operations in 1968, filed for Chapter 11 bankruptcy protection on July 18, 1997. As part of the plan of reorganization, NEMR has entered into settlement agreements with the Massachusetts Department of Environmental Protection and the New Hampshire Department of Environmental Services, to address and assume specifically defined environmental site clean- up obligations at the Tewksbury and Madbury facilities. NEMR has also entered into a Marine Terminal Services Agreement with Merrill Marine Terminal Services, Inc. to obtain stevedoring and other dock services for NEMR at Merrill's Portland, Maine deep draft marine terminal facility. NEMR is owned by affiliates of Hugo Neu Corporation and Schnitzer Steel Industries, Inc., who also own Prolerized New England Company ("PNE"), a scrap metal recycler based in Everett, Massachusetts. OMNIS TECHNOLOGY: Does Not Expect to RePay $1M Note ---------------------------------------------------- In a form 8K filed with the SEC, Omnis Technology Corp. o f Delaware reports that it does not expect to repay a certain note by June 30, 1998, and is negotiating an extension to the maturity date. Pursuant to Note Purchase Agreements dated October 14, 1997 and October 31, 1997, the Company borrowed $1,000,000.00 from a significant stockholder. The maturity date for each of the Loans, which originally was March 31, 1998, was extended to June 30, 1998. There can be no assurance that the Company will be able to extend the maturity date of the Loans.The Company currently is not able to pay-off the Loans in their entirety, and if the maturity date is not extended, the Company may be forced to file for bankruptcy. The company also reports the appointment of two senior executives to spearhead a revitalized worldwide sales & marketing campaign. Kevin J. Doyle was named Vice President of Worldwide Marketing, and Larry A. Barcot as Vice President of US Sales. The company has agreed to sell up to 126,000 shares of series A preferred stock, at a price of $.80 per share, to a significant stockholder. Each share of preferred stock converts into 10 shares of common stock. Concurrent with the execution of this agreement, the Company sold the first 50,000 shares of series A preferred stock. These proceeds will be used to fund the Company's operations designed to achieve profitability and the expansion of its US based sales & marketing programs. ONE-STOP WIRELESS: Seeks Extension of Exclusivity ------------------------------------------------- One-Stop Wireless of America, Inc. and its affiliate debtors seek to extend the exclusive periods during which the debtors may file a plan of reorganization and solicit acceptances thereof through and including October 11, 1998 and December 10, 1998 respectively. The debtors state that this case is large and complex. The debtors have in excess of 275 creditors and $1.45 million in liabilities. There are over 4000 partners in the 53 parnerships operating the debtors' business. The debtors have had preliminary discussions with C/Net: Solutions, Inc. regarding the sale of their assets, and that would form the basis for a plan. ONEITA INDUSTRIES: Taps Carl Marx --------------------------------- Oneita Industries , Inc. is seeking court approval for retention of Carl Marks Consulting Group LLC . The prepetition lenders have requested that the debtor seek the retention of Carl Marks to identify problems, opportunities, risk factors, detailed cash flow and capital requirements; to analyze marketplace issues, perform a general evaluation of management, perform a general examination of financial systems, and analyze inventory and prepare a report. Carl Marks' fee will be limited to the sum of $35,000. A retainer of $20,000 will be paid upon court approval of the application. PHILIPPINE AIRLINES: Seeks Protection From Creditors ---------------------------------------------------- Philippine Airlines sought protection from creditors on Friday and proposed a rehabilitation plan involving fleet reduction and asset sales to enable it to repay debt of 2.1 billion dollars. Suffering from a two-week-old pilots' strike, the company's ground crew filed a strike notice, a move which could paralyze most traffic at Manila airport. PAL "foresees the impossibility of paying its obligations and liabilities as they fall due" on account of the Asian financial crisis, "low passenger traffic and labor disputes," the company said in a filing with the Securities and Exchange Commission. "It anticipates, however, that it will be able to pay its obligations if it is rehabilitated," the airline added as it sought the appointment of a temporary receiver to oversee its plan to return to profitability. PAL said it had debts of 85.1 billion pesos (2.1 billion dollars) which are offset with assets worth 90.6 billion pesos. The filing showed 275.4 million dollars in short- term debt was owed to at least nine banks and other companies in the United States, Japan, Spain and France. The foreign bank with the biggest exposure was Chase Manhattan Bank with loans of 233.8 million dollars -- 182.4 million dollars of which were unsecured. Among the big banks with exposures are Credit Lyonnais, Hongkong and Shanghai Banking Corp., and Banque Nationale de Paris. A foreign banker involved in the rescheduling talks confirmed that "a major portion" of PAL's debt was linked to PAL's four-billion-dollar refleeting program begun in 1996. PAL announced earlier this week that it was firing 5,000 ground crew and cabin attendants representing 37 percent of its total work force. It also fired some 625 pilots who went on strike on June 5 in protest at a cost-cutting early retirement plan, and said it would reduce its fleet size to 14 from 54 planes and cut operations by about 80 percent. PAL posted a record net loss of 8.08 billion pesos in its last fiscal year to March, and said losses from the pilots' strike totalled two billion pesos as of Monday. The company is interviewing pilots from Indonesia's bankrupt Sempati Air and other carriers as possible replacements for the PAL pilots. (Agence France-Presse; 06/19/98) SYSTEMS COMMUNICATIONS: Involuntary Petition Filed -------------------------------------------------- Systems Communications, Inc. Of Florida filed form 8K with the SEC reporting that on June 8, 1998 an involuntary Petition was filed on June 1, 1998 against the Company in the United States Bankruptcy Court for the Middle District of Florida under Chapter 7 of the Bankruptcy Act by certain petitioners. The Company plans to file a motion to dismiss the Petition on the grounds that it does not have any outstanding obligation to five of the six Petitioners and contests its obligation to the sixth Petitioner. Subsequent to the filing of the Company's Annual Report on Form 10-K for the year ended December 31, 1997, the Company revised the description of the Company and its business. (States SEC-06/18/98) TODAY'S MAN: Files Registration Statement ----------------------------------------- Today's Man, Inc. (Nasdaq: TMAN; TMANW) filed a Registration Statement with the Securities and Exchange Commission to register for resale shares of Common Stock and Warrants that were issued in conjunction with its emergence from bankruptcy protection to the Equity Investment Group led by Chairman, President and CEO David Feld. The filing involves 5,315,288 shares of Today's Man Common Stock and 2,445,985 Common Stock Purchase Warrants (plus an additional 2,445,985 shares of Common Stock which may be issued upon exercise of the Warrants). Over 75% of the shares and warrants covered by the filing are held by David Feld, members of the Today's Man Board of Directors and key Company executives. None of the affected shareholders have advised Today's Man of any specific plans for the distribution of the Common Stock or Warrants. A Registration Statement relating to the Common Stock and Warrants has been filed with the Securities and Exchange Commission but has not yet become effective. The Common Stock and Warrants offered by the selling shareholders may not be sold nor may offers to buy be accepted prior to the time the Registration Statement becomes effective. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Common Stock and Warrants in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. TOTAL-MULTIMEDIA: Announces Final Order --------------------------------------- Total Multimedia Inc.(TMM)(OTC BB:TMMI) announced that it has received a final order closing the company's successful Chapter 11 reorganization proceedings. VOXEL: Bankruptcy Prompted By Arbitration Award ----------------------------------------------- VOXEL of California reports that its bankruptcy filing was precipitated by a recent arbitration award of $1.9 million in favor of General Scanning, Inc., and by the subsequent failure of the parties to reach an agreement as to a payment schedule. Voxel intends to operate under the protection afforded by the Bankruptcy Code so that it may complete the development of the Voxcam(R) imager unhampered by continuing collection efforts by GSI. WORLDCORP: Sends Letter to 7% Debenture Holders ----------------------------------------------- WorldCorp, Inc. (NYSE: WOA) said that it has sent the following letter to holders of its 7% Convertible Debentures due 2004. "I am writing to you to describe WorldCorp's plans for addressing the interest payment default which occurred on May 15, 1998 in connection with the 7% Convertible Debentures due 2004. "As you are undoubtedly aware, WorldCorp did not make the interest payment due on May 15, 1998. In recent times WorldCorp has been selling its holdings in its two operating subsidiaries, World Airways, Inc., and InteliData, to raise funds with which to meet its obligations. At the current prices of the stock of those two subsidiaries, WorldCorp would have exhausted its remaining assets well before it had paid off its obligations if it continued following that course. "In light of these facts, the Board of Directors of WorldCorp determined to take steps to utilize its assets to try to acquire profitable businesses. As previously announced, WorldCorp entered into a transaction with Paper Acquisition Corp. in April of this year. This transaction brought into WorldCorp, through a subsidiary, a profitable business operation which we believe will benefit WorldCorp, its bondholders and its shareholders. And just last week Paper Acquisition announced the signing of two letters of intent for two additional acquisitions, subject to completion of due diligence and financing. "We understand that the failure of WorldCorp to make the most recent interest payment is of great concern to you. We know that we will need to restructure the terms of the 7% Convertible Debentures since WorldCorp does not currently have cash available to make interest payments. We have retained experienced legal counsel and are in the process of retaining a financial advisor. We then plan to meet with various of the debentureholders to discuss what sort of restructuring would be feasible for WorldCorp and acceptable to the debentureholders. "We have to acknowledge in all candor that a group of the debentureholders could seek to force the Company into bankruptcy. We believe that such a course would be ill- advised for all those involved with the Company. Bankruptcy does not create funds with which to pay creditors. It is very expensive and time- consuming. It will almost certainly hurt relationships with vendors, customers and the potential business of our subsidiaries, which will hurt WorldCorp. "For these reasons we urge you to work with us, as we want to work with you, to reach a consensual agreement on restructuring your debentures. We are committed to address the terms of such a restructuring with debentureholders within the next few weeks. We urge you to give us the opportunity to do so." The letter was signed by: Patrick F. Graham, President and Chief Executive officer. DLS CAPITAL: Bond Pricing for Week of June 15, 1998 --------------------------------------------------- DLS Capital Partners, Inc., bond pricing for week of June 15, 1998 Following are indicated prices for selected issues: Amer Telecasting 0/14 1/2 '04 24 - 26 Asia Pulp & Paper 11 3/4 '05 90 - 91 APS 11 7/8 '06 10 - 14 (f) Boston Chicken 7 3/4 '04 18 - 20 Brazos 10 1/2 '07 65 - 68 Brunos 10 1/2 '05 14 - 17 (f) CAI Wireless 12 1/4 '02 21 - 23 Cityscape 12 3/4 '04 40 - 42 (f) E&S Holdings 10 3/8 '06 74 - 75 Grand Union 12 '04 57 - 58 (f) Greate Bay 10 7/8 '04 86 - 87 (f) Harrah's Jazz 14 1/4 '01 30 - 32 (f) Hechinger 9.45 '12 73 - 75 Levitz 9 5/8 '03 51 - 53 (f) Liggett 11 1/2 '99 67 - 70 Mobilemedia 9 3/8 '07 25 - 28 (f) Penn Traffic 9 5/8 '04 36 - 37 Royal Oak 11 '06 86 - 88 Service Merchandise 9 '04 77 - 78 Trump Castle 11 3/4 '03 92 - 93 Zenith 6 1/4 '11 32 - 34 (f) ********* The Meetings, Conferences and Seminars column appears in the TCR each Tuesday. Submissions via e-mail to conferences@bankrupt.com are encouraged. 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., Princeton, NJ, and Beard Group, Inc., Washington, DC. Debra Brennan and Lexy Mueller, Editors. Copyright 1998. All rights reserved. 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 * * *