Reliance Bankruptcy? or Berkshire-Hathaway?

Reported by A.M. Best: Reliance Group Holdings Inc. (parent of Reliance Insurance Co.) is said to be 'exploring a full range of alternatives' to restructure $735.1 million of debt, $529.2 million of repayment due this year, including filing for bankruptcy protection. Reliance released its second-quarter results with this disclosure: a net loss of $504.5 million, or $4.40 a diluted share, compared with a loss of $156.9 million, or $1.38 a share, in last year's second quarter. $237.5 million of bank debt matures 8/31/00, and another $291.7 million in debt comes due in November. Reliance...