TCR_Public/050402.mbx        T R O U B L E D   C O M P A N Y   R E P O R T E R

            Saturday, April 2, 2005, Vol. 9, No. 77

                          Headlines

ADELPHIA COMMS: Reports $15 Million Net Loss in February 2005
ADELPHIA: Century/ML's February 2005 Monthly Operating Report
FEDERAL-MOGUL: Earns $26 Million of Net Income in December 2004
FEDERAL-MOGUL: Posts $28 Million Net Loss in January 2005
FGI GROUP: Files February 2005 Monthly Operating Report

INTERMET CORP: Posts $5,749,000 Net Loss in February 2005
KUSHNER-LOCKE: Releases January 2005 Monthly Operating Reports
MIIX GROUP: Incurs $58,124 Net Loss in February 2005

                          *********

ADELPHIA COMMS: Reports $15 Million Net Loss in February 2005
-------------------------------------------------------------

             Adelphia Communications Corporation, et al.
                Unaudited Consolidated Balance Sheet
                      As of February 28, 2005
                       (Dollars in thousands)

                               ASSETS

Cash and cash equivalents                              $367,950
Restricted cash                                           5,185
Accounts receivables - net                              111,772
Other current assets                                    171,439
                                                    -----------
Total current assets                                    656,346

Restricted cash                                           3,084
Investments in equity affiliates                        226,764
Related party receivables                                17,850
Property, plant and equipment - net                   4,285,961
Intangible assets - net                               7,450,389
Other noncurrent assets - net                           105,466
                                                    -----------
Total Assets                                        $12,745,860
                                                    ===========

                LIABILITIES AND STOCKHOLDERS' EQUITY

Accounts payable                                       $129,897
Subscriber advance payments and deposits                 29,467
Accrued and other liabilities                           500,849
Deferred revenue                                         29,096
Current portion of parent and subsidiary debt           613,195
                                                    -----------
Total current liabilities                             1,302,504

Other liabilities                                       120,955
Deferred revenue                                         81,021
Deferred income taxes                                   697,639
                                                    -----------
Total noncurrent liabilities                            899,615

Liabilities subject to compromise                    18,352,302
                                                    -----------
Total liabilities                                    20,554,421

Minority interests                                       89,410

Stockholders' equity:
    Series preferred stock                                  397
    Class A and Class B common stock                      2,548
    Additional paid-in capital                        9,566,669
    Accumulated other comprehensive loss                    826
    Accumulated deficit                             (16,654,343)
    Treasury stock, at cost                             (27,937)
                                                    -----------
Total                                                (7,111,840)

Amounts due from Rigas family entities                 (786,131)
                                                    -----------
Total stockholders' equity                           (7,897,971)
                                                    -----------
Total liabilities and stockholders' equity          $12,745,860
                                                    ===========


            Adelphia Communications Corporation, et al.
          Unaudited Consolidated Statements of Operations
                 Month Ended February 28, 2005
                      (Dollars in thousands)

Revenue                                                $335,990
Cost and expenses:
    Direct operating and programming                    195,770
    Selling, general and administrative                  28,427
    Investigation and re-audit fees                       7,155
    Depreciation and amortization                        82,346
    Impairment of long-lived and other assets                 -
    Gains on dispositions of long-lived assets           (3,094)
                                                    -----------
Operating income (loss)                                  25,386

Other income (expense):
    Interest expense                                    (41,161)
    Impairment of cost & available for
       sale investments                                       -
    Other income (expense) - net                            169
                                                    -----------
       Total other expense - net                        (40,992)
                                                    -----------
Loss from continuing operations before
reorganization                                          (15,606)

Reorganization expenses due to bankruptcy                  (555)
                                                    -----------
Loss from continuing operations before income taxes     (16,161)
Income tax (expense) benefit                                  -
Share of earnings of equity affiliates - net                128
Minority's interest in subsidiary losses - net              853
                                                    -----------
Net loss                                                (15,180)
Beneficial conversion feature                                 -
                                                    -----------
Net loss applicable to common stockholders             ($15,180)
                                                    ===========


            Adelphia Communications Corporation, et al.
          Unaudited Consolidated Statements of Cash Flows
                  Month Ended February 28, 2005
                      (Dollars in thousands)

Cash flows from operating activities:
    Net loss                                           ($15,180)
    Adjustments to reconcile net loss to net cash
    provided by (used in) operating activities:
       Depreciation and amortization                     82,346
       Amortization of debt financing costs               4,235
       Gains on dispositions of long-lived assets        (3,094)
       Impairment of cost & available for
          sale investments                                    -
       Reorganization expenses due to bankruptcy            555
       Deferred tax expense (benefit)                         -
       Share in losses (earnings) of equity affiliates     (128)
       Minority interest in losses of subsidiaries         (853)
       Depreciation, amortization and other non-cash
          items from discontinued operations                  -
       Change in operating assets & liabilities           2,928
                                                    -----------
Net cash provided by operating activities before
payment of reorganization expenses                       70,809

Reorganization expenses paid during the period            4,257
                                                    -----------
Net cash provided by (used in) operating activities      75,066

Cash flows from investing activities:
    Expenditures for property, plant and equipment      (34,001)
    Changes in restricted cash                              (73)
    Other                                                41,542
                                                    -----------
Net cash used in investing activities                     7,468

Cash flows from financing activities:
    Proceeds from DIP facility                          590,000
    Repayments of debt                                 (684,050)
    Payment of bank financing costs                      (3,590)
                                                    -----------
Net cash provided by financing activities               (97,640)

Change in cash and cash equivalents cash                (15,106)

Cash, beginning of period                               383,056
                                                    -----------
Cash, end of period                                    $367,950
                                                    ===========

Headquartered in Coudersport, Pennsylvania, Adelphia
Communications Corporation (OTC: ADELQ) is the fifth-largest cable
television company in the country.  Adelphia serves customers in
30 states and Puerto Rico, and offers analog and digital video
services, high-speed Internet access and other advanced services
over its broadband networks.  The Company and its more than
200 affiliates filed for Chapter 11 protection in the Southern
District of New York on June 25, 2002.  Those cases are jointly
administered under case number 02-41729.  Willkie Farr & Gallagher
represents the ACOM Debtors.  (Adelphia Bankruptcy News, Issue
No. 83; Bankruptcy Creditors' Service, Inc., 215/945-7000)


ADELPHIA: Century/ML's February 2005 Monthly Operating Report
-------------------------------------------------------------

                      Century-ML Cable Venture
                       (Debtor-In-Possession)
                      Unaudited Balance Sheet
                      As of February 28, 2005
                       (Dollars in thousands)

                                ASSETS

Cash and cash equivalents                               $18,451
Subscriber receivables, net                                 314
Investment in Century-ML Corporation                    137,884
Related party receivables                                   231
Other current assets                                        437
                                                       --------
Total current assets                                    157,317

Property, plant and equipment, net                        6,057
Intangible assets, net                                    1,528
                                                       --------
     Total assets                                      $164,902
                                                       ========

               LIABILITIES AND STOCKHOLDERS' EQUITY

Subscriber advance payments and deposits                    $76
Accrued expenses and other liabilities                    2,151
Intercompany payables                                     2,573
                                                       --------
Total current liabilities                                 4,800
                                                       --------

Long-term accrued and other liabilities                      15
Deferred revenues                                           144
Deferred income taxes                                        45
                                                       --------
Total non-current liabilities                               204

Liabilities subject to compromise:
     Accounts payable                                        20
     Accrued expenses and other liabilities               1,281
     Intercompany payables                               10,872
                                                       --------
        Total liabilities subject to compromise          12,173
                                                       --------
        Total liabilities                                17,177
                                                       --------
Partners' equity:
     Partners' contributions                             56,800
     Partners' retained earnings                         90,925
                                                       --------
     Total partners' equity                             147,725
                                                       --------
     Total liabilities and partners' equity            $164,902
                                                       ========


                      Century-ML Cable Venture
                       (Debtor-In-Possession)
                 Unaudited Statement of Operations
               For the Month Ended February 28, 2005
                       (Dollars in thousands)

Revenue                                                  $1,032

Cost and expenses:
     Direct operating and programming                       476
     Selling, general and administrative                     12
     Management fees                                         34
     Non-recurring professional fees                          -
     Depreciation                                            72
                                                       --------
     Operating income before reorganization
        expenses due to bankruptcy                          438

Reorganization expenses due to bankruptcy                    63
                                                       --------
Operating income                                            375
     Interest income, net                                    25
     Equity in net income of Century-ML Cable
        Corporation, net of taxes                         1,535
                                                       --------
Income before income taxes                                1,935
     Income tax expense                                    (105)
                                                       --------
Net income                                               $1,830
                                                       ========


                      Century-ML Cable Venture
                       (Debtor-In-Possession)
                 Unaudited Statement of Cash Flows
               For the Month Ended February 28, 2005
                       (Dollars in thousands)

Cash flow from operating activities:
Net income                                               $1,830
     Adjustments to reconcile net income
         to net cash provided by (used in)
         operating activities:
     Depreciation                                            72
     Reorganization expenses due to bankruptcy               63
     Non-recurring professional fees                          -
     Equity in net income of Century-ML Cable
        Corp., net of taxes                              (1,535)
     Change in assets and liabilities:
        Subscriber receivables, net                         (52)
        Prepaid expenses and other assets, net              (49)
        Accounts payable                                    (12)
        Subscriber advance payments and deposits            (13)
        Accrued expenses and other liabilities              171
        Intercompany receivables and payables - net         149
                                                       --------
Net cash provided by operating activities                   624
                                                       --------
Cash flows from investing activities:
     Expenditures from property, plant and equipment       (126)
                                                       --------
Net cash used in investing activities                      (126)
                                                       --------
Change in cash and cash equivalents                         498
Cash and cash equivalents, beginning of period           17,953
                                                       --------
Cash and cash equivalents, end of period                $18,451
                                                       ========

Headquartered in Coudersport, Pennsylvania, Adelphia
Communications Corporation (OTC: ADELQ) is the fifth-largest cable
television company in the country.  Adelphia serves customers in
30 states and Puerto Rico, and offers analog and digital video
services, high-speed Internet access and other advanced services
over its broadband networks.  The Company and its more than
200 affiliates filed for Chapter 11 protection in the Southern
District of New York on June 25, 2002.  Those cases are jointly
administered under case number 02-41729.  Willkie Farr & Gallagher
represents the ACOM Debtors.  (Adelphia Bankruptcy News, Issue
No. 83; Bankruptcy Creditors' Service, Inc., 215/945-7000)


FEDERAL-MOGUL: Earns $26 Million of Net Income in December 2004
---------------------------------------------------------------

                 Federal-Mogul Global, Inc., et al.
                       Unaudited Balance Sheet
                       As of December 31, 2004
                            (In millions)

                               Assets

Cash and equivalents                                     $433.7
Accounts receivable                                       583.0
Inventories                                               483.6
Deferred taxes                                            182.6
Prepaid expenses and other current assets                 101.9
                                                      ---------
Total current assets                                    1,784.9

Summary of Unpaid Postpetition Debits                     (15.0)
Intercompany Loans Receivable (Payable)                 2,623.5
                                                      ---------
Intercompany Balances                                   2,608.5

Property, plant and equipment                           1,035.4
Goodwill                                                1,124.9
Other intangible assets                                   446.7
Insurance recoverable                                     853.8
Other non-current assets                                1,141.4
                                                      ---------
Total Assets                                           $8,995.7
                                                      =========

                 Liabilities and Shareholders' Equity

Short-term debt                                          $277.9
Accounts Payable                                          191.6
Accrued Compensation                                       77.5
Restructuring and rationalization reserves                 11.1
Current portion of asbestos liability                         -
Interest Payable                                            0.4
Other accrued liabilities                                 290.9
                                                      ---------
Total current liabilities                                 849.4

Long-term debt                                                -
Post-employment benefits                                2,033.5
Other accrued liabilities                                 996.8
Liabilities subject to compromise                       6,018.5

Shareholders' equity:
    Preferred stock                                     1,050.6
    Common stock                                          564.9
    Additional paid-in capital                          8,022.4
    Accumulated deficit                                (9,553.2)
    Accumulated other comprehensive income               (987.1)
    Other                                                     -
                                                      ---------
Total Shareholders' Equity                               (902.4)
                                                      ---------
Total Liabilities and Shareholders' Equity             $8,995.7
                                                      =========


                 Federal-Mogul Global, Inc., et al.
                 Unaudited Statement of Operations
               For the month ended December 31, 2004
                            (In millions)

Net sales                                                $255.6
Cost of products sold                                     222.3
                                                      ---------
Gross margin                                               33.3

Selling, general & administrative expenses                (21.5)
Amortization                                               (1.2)
Reorganization items                                      (22.2)
Interest income (expense), net                             (8.4)
Other income (expense), net                                59.6
                                                      ---------
Earnings before Income Taxes                               39.6

Income Tax (Expense) Benefit                              (13.4)
                                                      ---------
Earnings before effect of change in acctg principle        26.2
Cumulative effect of change in acctg principle                -
                                                      ---------
Net Earnings (loss)                                       $26.2
                                                      =========


                 Federal-Mogul Global, Inc., et al.
                 Unaudited Statement of Cash Flows
               For the month ended December 31, 2004
                            (In millions)

Cash Provided From (Used By) Operating Activities:
    Net earnings (loss)                                   $26.2

Adjustments to reconcile net earnings (loss):
    Depreciation and amortization                          13.8
    Adjustments of assets held for sale to fair value       4.1
    Asbestos Charge                                           -
    Summary of unpaid postpetition debits                     -
    Cumulative effect of change in acctg principle            -
    Change in post-employment benefits                     (2.5)
    Decrease/(increase) in accounts receivable             36.3
    Decrease/(increase) in inventories                      4.5
    Increase/(decrease) in accounts payable                 3.2
    Change in other assets and other liabilities           59.7
    Change in restructuring charge                          3.6
    Refunds (payments) against asbestos liability             -
                                                      ---------
Net Cash Provided From Operating Activities               148.9

Cash Provided From (Used By) Investing Activities:
    Expenditures for property, plant & equipment          (14.9)
    Proceeds from sale of property, plant & equipment         -
    Proceeds from sale of businesses                       10.2
    Business acquisitions, net of cash acquired               -
    Other                                                     -
                                                      ---------
Net Cash Provided From (Used By) Investing Activities      (4.7)

Cash Provided From (Used By) Financing Activities:
    Increase (decrease) in debt                           (66.0)
    Sale of accounts receivable under securitization          -
    Dividends                                                 -
    Other                                                   5.6
                                                      ---------
Net Cash Provided From Financing Activities               (60.4)

Increase (Decrease) in Cash and Equivalents                83.8

Cash and equivalents at beginning of period               349.9
                                                      ---------
Cash and equivalents at end of period                    $433.7
                                                      =========

Headquartered in Southfield, Michigan, Federal-Mogul Corporation
-- http://www.federal-mogul.com/-- is one of the world's largest
automotive parts companies with worldwide revenue of some
$6 billion.  The Company filed for chapter 11 protection on
October 1, 2001 (Bankr. Del. Case No. 01-10582).  Lawrence J.
Nyhan, Esq., James F. Conlan, Esq., and Kevin T. Lantry, Esq., at
Sidley Austin Brown & Wood, and Laura Davis Jones, Esq., at
Pachulski, Stang, Ziehl, Young, Jones & Weintraub, P.C.,
Represent the Debtors in their restructuring efforts.  When the
Debtors filed for protection from their creditors, they listed
$10.15 billion in assets and $8.86 billion in liabilities.
At Dec. 31, 2004, Federal-Mogul's balance sheet showed a
$1.925 billion stockholders' deficit.  (Federal-Mogul Bankruptcy
News, Issue No. 75; Bankruptcy Creditors' Service, Inc.,
215/945-7000)


FEDERAL-MOGUL: Posts $28 Million Net Loss in January 2005
---------------------------------------------------------

                 Federal-Mogul Global, Inc., et al.
                       Unaudited Balance Sheet
                       As of January 31, 2005
                            (In millions)

                               Assets

Cash and equivalents                                     $420.4
Accounts receivable                                       582.2
Inventories                                               495.9
Deferred taxes                                            182.3
Prepaid expenses and other current assets                 100.3
                                                      ---------
Total current assets                                    1,781.1

Summary of Unpaid Postpetition Debits                     (23.9)
Intercompany Loans Receivable (Payable)                 2,572.7
                                                      ---------
Intercompany Balances                                   2,548.8

Property, plant and equipment                           1,026.2
Goodwill                                                1,122.4
Other intangible assets                                   442.5
Insurance recoverable                                     840.5
Other non-current assets                                1,118.5
                                                      ---------
Total Assets                                           $8,880.0
                                                      =========

                 Liabilities and Shareholders' Equity

Short-term debt                                          $308.4
Accounts Payable                                          191.7
Accrued Compensation                                       92.1
Restructuring and rationalization reserves                 11.8
Current portion of asbestos liability                         -
Interest Payable                                            1.7
Other accrued liabilities                                 288.3
                                                      ---------
Total current liabilities                                 893.9

Long-term debt                                                -
Post-employment benefits                                2,007.3
Other accrued liabilities                                 988.8
Liabilities subject to compromise                       6,010.0

Shareholders' equity:
    Preferred stock                                     1,050.6
    Common stock                                          564.9
    Additional paid-in capital                          8,021.3
    Accumulated deficit                                (9,601.3)
    Accumulated other comprehensive income             (1,055.4)
    Other                                                     -
                                                      ---------
Total Shareholders' Equity                             (1,019.9)
                                                      ---------
Total Liabilities and Shareholders' Equity             $8,880.0
                                                      =========


                 Federal-Mogul Global, Inc., et al.
                 Unaudited Statement of Operations
               For the month ended January 31, 2005
                            (In millions)

Net sales                                                $270.3
Cost of products sold                                     232.7
                                                      ---------
Gross margin                                               37.5

Selling, general & administrative expenses                (54.8)
Amortization                                               (1.2)
Reorganization items                                      (11.3)
Interest income (expense), net                             (9.6)
Other income (expense), net                                19.3
                                                      ---------
Earnings before Income Taxes                              (20.0)

Income Tax (Expense) Benefit                               (8.1)
                                                      ---------
Earnings before effect of change in acctg principle       (28.1)
Cumulative effect of change in acctg principle                -
                                                      ---------
Net Earnings (loss)                                      ($28.1)
                                                      =========


                 Federal-Mogul Global, Inc., et al.
                 Unaudited Statement of Cash Flows
               For the month ended January 31, 2005
                            (In millions)

Cash Provided From (Used By) Operating Activities:
    Net earnings (loss)                                  ($28.1)

Adjustments to reconcile net earnings (loss):
    Depreciation and amortization                          13.2
    Adjustments of assets held for sale to fair value         -
    Asbestos Charge                                           -
    Summary of unpaid postpetition debits                     -
    Cumulative effect of change in acctg principle            -
    Change in post-employment benefits                     (1.1)
    Decrease/(increase) in accounts receivable             (0.9)
    Decrease/(increase) in inventories                    (13.6)
    Increase/(decrease) in accounts payable                 0.9
    Change in other assets and other liabilities            0.9
    Change in restructuring charge                          0.8
    Refunds (payments) against asbestos liability             -
                                                      ---------
Net Cash Provided From Operating Activities               (27.9)

Cash Provided From (Used By) Investing Activities:
    Expenditures for property, plant & equipment           (6.4)
    Proceeds from sale of property, plant & equipment         -
    Proceeds from sale of businesses                          -
    Business acquisitions, net of cash acquired               -
    Other                                                     -
                                                      ---------
Net Cash Provided From (Used By) Investing Activities      (6.4)

Cash Provided From (Used By) Financing Activities:
    Increase (decrease) in debt                            29.2
    Sale of accounts receivable under securitization          -
    Dividends                                                 -
    Other                                                  (8.3)
                                                      ---------
Net Cash Provided From Financing Activities                20.9

Increase (Decrease) in Cash and Equivalents               (13.3)

Cash and equivalents at beginning of period               433.7
                                                      ---------
Cash and equivalents at end of period                    $420.4
                                                      =========

Headquartered in Southfield, Michigan, Federal-Mogul Corporation
-- http://www.federal-mogul.com/-- is one of the world's largest
automotive parts companies with worldwide revenue of some
$6 billion.  The Company filed for chapter 11 protection on
October 1, 2001 (Bankr. Del. Case No. 01-10582).  Lawrence J.
Nyhan, Esq., James F. Conlan, Esq., and Kevin T. Lantry, Esq., at
Sidley Austin Brown & Wood, and Laura Davis Jones, Esq., at
Pachulski, Stang, Ziehl, Young, Jones & Weintraub, P.C.,
Represent the Debtors in their restructuring efforts.  When the
Debtors filed for protection from their creditors, they listed
$10.15 billion in assets and $8.86 billion in liabilities.
At Dec. 31, 2004, Federal-Mogul's balance sheet showed a
$1.925 billion stockholders' deficit.  (Federal-Mogul Bankruptcy
News, Issue No. 75; Bankruptcy Creditors' Service, Inc.,
215/945-7000)


FGI GROUP: Files February 2005 Monthly Operating Report
-------------------------------------------------------
On March 28, 2005, FGI Group Inc., filed a monthly operating
report for Florsheim Group, Inc., et al., and its debtor-
affiliates covering the period ended Feb. 28, 2005, with the
United States Bankruptcy Court for the Northern District of
Illinois, Eastern Division.

FGI Group reports a $1,209,255 cash balance at Feb. 28, 2005,
and provides a summary of cash accounts; receipts listings;
disbursements listings; loan account; statement of aged
receivables and accounts payable aging; tax questionnaire; and
declaration.

A full-text copy of FGI Group's February 2005 Monthly Operating
Report is available at no charge at:


http://www.sec.gov/Archives/edgar/data/928908/000095013705003641/c93664exv99w1.txt

Florsheim Group, Inc., filed for chapter 11 protection on
March 4, 2002 (Bankr. N.D. Ill. Case No. 02 B 08209) to facilitate
a sale of its U.S. wholesale business and 23 retail stores to its
U.S. assets to the Weyco Group, Inc. for $45.6 million in cash,
subject to post closing adjustment.


INTERMET CORP: Posts $5,749,000 Net Loss in February 2005
---------------------------------------------------------
On March 28, 2005, Intermet Corporation and its debtor-affiliates
delivered its February 2005 monthly operating report to the U.S.
Bankruptcy Court for the Eastern District of Michigan.

For the month ending Feb. 28, 2005, Intermet Corporation reported
net loss of $5,749,000 against $55,734,000 net sales.

On Feb. 28, 2005, Intermet's balance sheet showed:

      Current Assets                          $159,467,000
      Total Assets                             471,100,000
      Postpetition Debts                        20,517,000
      Total Liabilities                        582,031,000
      Total Stockholders' Equity Deficit     ($110,931,000)

A full-text copy of Intermet Corporation's February 2005 Monthly
Operating Report is available at no charge at:


http://www.sec.gov/Archives/edgar/data/745287/000095012405001930/k93516exv99w1.txt

Headquartered in Troy, Michigan, Intermet Corporation --
http://www.intermet.com/-- provides machining and tooling
services for the automotive and industrial markets specializing
in the design and manufacture of highly engineered, cast
automotive components for the global light truck, passenger car,
light vehicle and heavy-duty vehicle markets.  Intermet, along
with its debtor-affiliates, filed for chapter 11 protection on
Sept. 29, 2004 (Bankr. E.D. Mich. Case Nos. 04-67597 through
04-67614).  Salvatore A. Barbatano, Esq., at Foley & Lardner LLP,
represents the Debtors.  When the Debtors filed for protection
from their creditors, they listed $735,821,000 in total assets
and $592,816,000 in total debts.


KUSHNER-LOCKE: Releases January 2005 Monthly Operating Reports
--------------------------------------------------------------
On March 11, 2005, The Kushner-Locke Company and its debtor-
affiliates filed its unaudited January 2005 Monthly Operating
Reports with the U.S. Bankruptcy Court for the Central District
of California.

For the month ending Jan. 31, 2005, The Kushner-Locke Company's
Profit & Loss Statement shows:

      Gross Profit                           $0
      Total Operating Expenses          141,279
      Total Non-Operating Expenses       24,897
      Net Income (Loss)               ($166,176)

For the period from Jan. 1, 2005 through Jan. 31, 2005, The
Kushner-Locke Company's Cash Receipts and Disbursements Report
shows:

                              Collateral    Concentration
                                Account        Account
                              ----------    -------------
      Beginning Balance       $1,463,942          $65,720
      Total Receipts             205,881          167,250
      Total Disbursements        141,000          166,176
      Ending Balance          $1,528,823          $66,794

Full-text copies of The Kushner-Locke Company's January 2005
Monthly Operating Reports are available at no charge at:

Profit & Loss Statement:


http://www.sec.gov/Archives/edgar/data/842009/000095012905002936/v07403exv99w2.htm

Cash Receipts and Disbursements Report:


http://www.sec.gov/Archives/edgar/data/842009/000095012905002936/v07403exv99w1.htm

Headquartered in Los Angeles, California, The Kushner-Locke
Company is a low-budget movie production studio.  The Company,
along with its debtor-affiliates filed for chapter 11 protection
on Nov. 21, 2001 in the U.S. Bankruptcy Court for the Central
District of California.  The cases are jointly administered under
case number 01-44828.


MIIX GROUP: Incurs $58,124 Net Loss in February 2005
----------------------------------------------------
On March 25, 2005, The MIIX Group, Inc., and its debtor-affiliate,
New Jersey State Medical Underwriters, Inc., filed their monthly
operating reports for the period from Feb. 1, 2005, to Feb. 28,
2005, with the U.S. Bankruptcy Court for the District of Delaware.

MIIX Group reports a $58,124 net loss on $3,296 in negative
revenue for the period from Feb. 1, 2005 thru Feb. 28, 2005.  New
Jersey State Medical Underwriters, Inc., reports $523,007 of net
income on $820,288 in total revenue for the period from Feb. 1,
2005 thru Feb. 28, 2005.

At Feb. 28, 2005, The MIIX Group's and New Jersey State Medical
Underwriters, Inc.'s balance sheets reflect:

                                                 New Jersey
                                                State Medical
                             The MIIX Group   Underwriters, Inc.
                             --------------   ------------------
   Total Assets                $9,752,836         $15,605,983
   Total Liabilities            8,857,645           6,737,870
   Stockholders' Equity          $835,131          $8,868,113

A full-text copy of MIIX Group and New Jersey State Medical
Underwriters, Inc.'s monthly operating reports for the period
from Feb. 1, 2005, to Feb. 28, 2005, is available at no charge
at:


http://www.sec.gov/Archives/edgar/data/1064063/000089322005000702/w07292exv99w1.txt

Headquartered in Lawrenceville, New Jersey, The MIIX Group, Inc.,
provides management services to medical malpractice insurance
companies.  The Company along with its debtor-affiliate filed for
chapter 11 protection on Dec. 20, 2004 (Bankr. D. Del. Case No.
04-13588).  Andrew J. Flame, Esq., at Drinker Biddle & Reath LLP
represents the Debtors in their restructuring efforts.  When the
Debtors filed for protection from their creditors, they estimated
assets between $10 million and $50 million and debts between
$10 million and $50 million.

                          *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers'
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR. Submissions about insolvency-
related conferences are encouraged. Send announcements to
conferences@bankrupt.com.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals. All titles are
available at your local bookstore or through Amazon.com. Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

For copies of court documents filed in the District of Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911. For
bankruptcy documents filed in cases pending outside the District
of Delaware, contact Ken Troubh at Nationwide Research &
Consulting at 207/791-2852.

                          *********

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., Fairless Hills, Pennsylvania,
USA, and Beard Group, Inc., Frederick, Maryland USA. Yvonne L.
Metzler, Emi Rose S.R. Parcon, Rizande B. Delos Santos, Jazel P.
Laureno, Cherry Soriano-Baaclo, Marjorie Sabijon, Terence Patrick
F. Casquejo, Christian Q. Salta, Jason A. Nieva and Peter A.
Chapman, Editors.

Copyright 2005.  All rights reserved.  ISSN: 1520-9474.

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 $675 for 6 months delivered via e-
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for the term of the initial subscription or balance thereof are
$25 each.  For subscription information, contact Christopher
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