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Save Money, Faster Notice, To More People All Via Law Firm Website

1 July 1998

Fruehauf Bankruptcy - Save Money, Faster Notice, To More People All Via Law Firm Website

    NEW YORK, June 30 --The New York City law firm of Camhy
Karlinsky & Stein LLP is using its website ( http://www.camhy.com ) in the
Fruehauf Trailer Corporation bankruptcy case to make Fruehauf's proposed plan
of reorganization available to the many thousands of Fruehauf's creditors.
    Notices of Fruehauf's October 1996 bankruptcy were mailed to over 110,000
potential creditors.  Eventually, over $3.8 billion in claims were filed
against Fruehauf.  Under Fruehauf's plan, a relatively small number of secured
creditors and tax authorities will receive almost all of Fruehauf's assets,
leaving assets presently valued at just over $1 million to be distributed
among the many thousands of Fruehauf's unsecured creditors.  "The large number
of claimants means that printing and mailing Fruehauf's plan documents would
be very expensive and would consume a significant part of Fruehauf's assets to
be distributed to unsecured creditors," says Attorney David Neier.  Indeed,
Delaware Bankruptcy Judge Peter J. Walsh has already allowed Fruehauf to
eliminate sending notice of its proposed plan by mail to the thousands of
Fruehauf's stockholders and instead to publish notices in various newspapers.
Fruehauf's stock was listed on the New York Stock Exchange and was widely
held.  Under Fruehauf's plan, Fruehauf's stock will be canceled and
stockholders will receive nothing.
    So as to allow all of Fruehauf's potential creditors to gain some
knowledge of Fruehauf's plan, Camhy Karlinsky & Stein LLP has agreed to what
is believed to be a first; the distribution of bankruptcy plan documents from
a law firm website, http://www.camhy.com.  Just recently, one page notices that were
mailed to over 8,000 creditors who filed claims with the Delaware bankruptcy
court and whose claims have not yet been ruled upon by the court included
information to access the full set of Fruehauf's plan documents from the World
Wide Web.  People who cannot access the Web can order the full set of
Fruehauf's plan documents from Ikon/Knight Rider in Delaware for a fee of
$12 plus postage.
    Law firms are not normally complimented for sending out bankruptcy
documents, but Camhy Karlinsky has received several good comments for posting
the Fruehauf's plan.  One attorney, simply e-mailed "Cool."