A potentially seismic problem for the asset-backed securities market appears likely to be resolved without a full judicial review of a legal challenge to the "true sale" of two securitizations issued by a company now in bankruptcy proceedings. LTV Corporation, a troubled steel manufacturer in Ohio, announced this week that it had arranged for new debtor-in-financing facilities of approximately $700 million. The company, which is in chapter 11 bankruptcy, had earlier received interim court approval