USG BANKRUPTCY NEWS:
TRENTON, N.J., Jun 27, 2001 /PRNewswire via COMTEX/ -- Bankruptcy Creditors' Service, Inc., today announced publication of USG BANKRUPTCY NEWS, tracking the chapter 11 reorganization undertaken by USG Corporation (NYSE: USG chart, msgs), United States Gypsum Company, L & W Supply Corporation, and their various affiliates before the United States Bankruptcy Court in Wilmington, Delaware.
Chapman indicates that the first issue of USG BANKRUPTCY NEWS, released today, includes:
* background information about the Company's operations;
* information extracted from the Debtors' chapter 11 bankruptcy petitions;
* a consolidated list of the Debtors' 50 largest unsecured creditors;
* the Debtors' emergency request to pay roughly $20 million to honor
pre-petition employee obligations; and
* a calendar of the key dates and deadlines in the Debtors' chapter 11
cases.
Chapman relates that the next edition will provide subscribers with a detailed review of:
* the Debtors' applications to employ Jones, Day, Reavis & Pogue; Chilmark
Partners, LLC; and the parade of other restructuring professionals that
will help management push and pull the Company through the bankruptcy
process;
* the $350 million post-petition financing facility arranged by JP Morgan
Chase to provide on-going working capital financing;
* the operational and financial impact of the handfuls of motions asking
Judges Farnan for emergency relief in order to maintain "business as
usual" from customers' and employees' perspectives; and
* the United States trustee's plans and efforts to form one or more
official committees to represent the interests of the Debtors' creditors
and shareholders.
USG BANKRUPTCY NEWS is distributed on a subscription basis by e-mail for $45 per issue. New issues are published as significant activity occurs (generally every 10 to 20 days) in the company's chapter 11 cases.
Chapman advised that a free copy of the first issue of USG BANKRUPTCY NEWS is available via the Internet at bankrupt.com using a standard Web browser.
Since 1990, BCSI has published similar newsletters tracking billion-dollar insolvency proceedings. Currently, BCSI provides similar coverage of the chapter 11 cases involving W.R. Grace & Co., Owens Corning, Armstrong World Industries, Pacific Gas and Electric Company, Reliance Group Holdings & Reliance Financial, The FINOVA Group, Inc., LTV, Wheeling-Pittsburgh, Safety-Kleen, Fruit of the Loom, Pillowtex, Warnaco, Bridge Information Services, Service Merchandise, PSINet, Winstar, ICG Communications, Lernout & Hauspie & Dictaphone, Imperial Sugar, Vlasic Foods, The Loewen Group International, Inc., Harnischfeger Industries, Inc., and the Top Five healthcare restructurings (Vencor, Sun, Mariner, Genesis and Integrated Health Services).
Additionally, BCSI co-publishes the TROUBLED COMPANY REPORTER. The TCR provides daily news by e-mail about approximately 700 high-profile restructurings and insolvency proceedings around the globe. Go to bankrupt.com to sign-up for a 30-day free trial subscription to the TCR. |
