TCR_Public/061004.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

           Wednesday, October 4, 2006, Vol. 10, No. 236

                             Headlines

ABERCO INC: Voluntary Chapter 11 Case Summary
ADELPHIA COMMS: ACC Noteholders Object to CEO Pay Pact Amendments
ADELPHIA COMMS: ACC Noteholders Want to Terminate Exclusivity
ADELPHIA COMMS: Court Okays Travelers Casualty 2nd Indemnity Pact
ADVANCED MICRO: Intel Antitrust Trial Scheduled on April 2009

ADVENTURE PARKS: Taps Fowler Holley to Provide Tax Services
ADVENTURE PARKS: Wants Summerford to Provide Forensic Accounting
AFFILIATED COMPUTER: Stock Option Probe Delays Form 10-K Filing
AFFILIATED COMPUTER: Form 10-K Filing Delay Cues S&P's Downgrade
AGILENT TECHNOLOGIES: Earns $227 Million in Third Quarter

AMARANTH ADVISORS: Losses Prompt SEC to Probe Hedge Funds
AMARANTH ADVISORS: Retains Fortress Investment as Sub-Advisor
AMERICAN HOMEPATIENT: U.S. Supreme Ct. Denies Writ of Certiorari
AMH HOLDINGS: Moody's Assigns Loss-Given-Default Rating
ANCHOR GLASS: Wants 12 Officers & Directors' Claims Disallowed

AQUILA INC: Improved Credit Profile Cues Fitch to Upgrade Ratings
AT HOLDINGS: Moody's Assigns Loss-Given-Default Ratings
ATLANTIC MARINE: Moody's Assigns Loss-Given-Default Ratings
ATLANTIS PLASTICS: Moody's Assigns Loss-Given-Default Ratings
AUSTIN COMPANY: Files Amended Disclosure Statement in Ohio

AXIA INC: Moody's Assigns Loss-Given-Default Rating
BALL CORPORATION: Moody's Assigns Loss-Given-Default Ratings
BP METALS: S&P Puts Low-B Ratings on Proposed $145 Million Debts
CALPINE CORP: Wants to Expand Scope of Miller Buckfire's Duties
CALPINE CORP: Bankruptcy Court Approves TIC Settlement Agreement

CALPINE CORP: Court OKs Watson Wyatt as Human Resource Consultant
CANWEST MEDIAWORKS: Selling Two Radio Stations for $15 Million
CAROL CAPOCCIA: Case Summary & 7 Largest Unsecured Creditors
CEP HOLDINGS: U.S. Trustee Names Five-Member Creditors Committee
CEP HOLDINGS: Trade Vendors Want Cases Converted to Chapter 7

CHEMDESIGN CORP: Court OKs Continued Use of SPC's Cash Collateral
COLLINS & AIKMAN: Taps Hilco to Appraise Williamston Equipment
COLLINS & AIKMAN: Inks Pact Regarding GM's Lift-Stay Request
COMPLETE RETREATS: Intagio Withdraws Credit Reservations Motion
COMPLETE RETREATS: Court OKs D.G. Capital's Rule 2004 Exam Request

CONTINENTAL MIDWEST: Files for Chapter 11 Protection in Ohio
CONTINENTAL MIDWEST: Case Summary & 18 Largest Unsecured Creditors
COPELANDS' ENT: Court Okays Clear Thinking as Business Advisor
CORUS ENTERTAINMENT: Buying CanWest Radio Stations for $15 Million
COUDERT BROTHERS: Wants Wilson Elser to Continue Representation

COUDERT BROTHERS: Wants Dunn Koes to Appeal Lyman Suit Verdict
CYOP SYSTEMS: June 30 Balance Sheet Upside-Down by $1.2 Million
DANA CORP: Wants Court to Bifurcate Reclamation Claim Issues
DANA CORP: Wants to Assume & Assign Liberty Property Lease
DANA CORP: Court Moves State Court Action Removal Period to May 28

DOWNEAST HERITAGE: Case Summary & 8 Largest Unsecured Creditors
EASTMAN KODAK: Names Frank S. Sklarsky as Chief Financial Officer
ECHOSTAR DBS: Fitch Assigns BB- Rating to $500 Million Sr. Notes
ENCORE MEDICAL: S&P Rates Proposed $215 Million Sr. Notes at CCC+
ENRON CORP: Distributes $3.4 Billion to Creditors

ENTERGY NEW: BNY & FGIC Want Interest Payments on Sec. Bonds Now
FALCON AIR: Ch. 11 Trustee Has Until Dec. 6 to Decide on Leases
FAREPORT CAPITAL: Outlines Financing and Debt Restructuring Deals
FORD MOTOR: Improvement to Show in 2007 Second Half, Says CFO
GENCORP CORP: Moody's Assigns Loss-Given-Default Ratings

GENERAL MOTORS: Nissan COO Says Talks will End in Mid-October
GENERAL MOTORS: Amends Bylaws & Corporate Governance Policies
GENOA HEALTHCARE: Moody's Assigns Loss-Given-Default Ratings
GEORGIA STORAGE: Case Summary & Largest Unsecured Creditor
GGNSC HOLDINGS: Moody's Assigns Loss-Given-Default Ratings

GREAT ATLANTIC: Moody's Confirms B3 Corporate Family Rating
GROWTH GROUP: Case Summary & Two Largest Unsecured Creditors
HEALTHESSENTIALS SOLUTIONS: Court Confirms Plan of Liquidation
HEALTHSOUTH CORP: Moody's Assigns Loss-Given-Default Rating
HENRY EPPS: Voluntary Chapter 11 Case Summary

HINES NURSERIES: Moody's Assigns Loss-Given-Default Ratings
HRP MYRTLE: Moody's Assigns Loss-Given-Default Ratings to 2 Notes
IASIS HEALTHCARE: Moody's Assigns Loss-Given-Default Rating
IMC INVESTMENT: Taps Powell Goldstein as General Counsel
INGLES MARKETS: Moody's Assigns LGD5 Loss-Given-Default Rating

INSIGHT COMMS: Fitch Rates Proposed $2.575 Billion Facility at BB+
INSIGHT HEALTH: S&P Lowers Corporate Credit Rating to B-
INTEREP NATIONAL: Moody's Assigns Loss-Given-Default Rating
INTERSTATE BAKERIES: Commences Preferential Avoidance Actions
INTERSTATE BAKERIES: ABA Trustees, et al. Seek to Remove Reference

INTERSTATE BAKERIES: Wants Hilco as Business Asset Appraiser
ISLE OF CAPRI: Moody's Assigns Loss-Given-Default Ratings
JACOBS ENTERTAINMENT: Moody's Assigns Loss-Given-Default Ratings
JAFRA WORLDWIDE: Moody's Assigns Loss-Given-Default Rating
JEFF PHILLIPS: Voluntary Chapter 11 Case Summary

JMNM COMPANY: Voluntary Chapter 11 Case Summary
K&F INDUSTRIES: Moody's Assigns Loss-Given-Default Ratings
KAISER ALUMINUM: Agrium Companies React to Claim Objections
KAISER ALUMINUM: Cuts 20 Jobs in Ontario, Canada Plant
KELLWOOD CO: Earns $7.1 Million in Quarter Ended July 29

KIDS WORLD: Has Viable Cause of Action Against State of Georgia
KMART CORP: Wants Summary Judgment on Ashland's $1,303,004 Claim
KMART CORP: Court Disallows Seven Real Property Lease Claims
KMART CORP: Wants Settled Critical Vendor Claims Disallowed
LA REINA: Gets Final Court OK on $9.7MM DIP Pact with Westernbank

LAMAR MEDIA: Moody's Assigns Loss-Given-Default Ratings
LANCE WELLER: Voluntary Chapter 11 Case Summary
LAS VEGAS SANDS: Moody's Assigns Loss-Given-Default Ratings
LBI Media: Moody's Assigns Loss-Given-Default Ratings
LE GOURMET: Creditors Panel Retains Lowenstein Sandler as Counsel

LE GOURMET: Brings In FTI Consulting as Financial Advisor
LEGENDS GAMING: Moody's Assigns Loss-Given-Default Ratings
LENOX HEALTHCARE: Charles Golden Named as Chapter 7 Trustee
LENOX HEALTHCARE: Ch. 7 Trustee Taps Obermayer Rebmann as Counsel
LIFECARE HOLDINGS: Moody's Assigns Loss-Given-Default Rating

LIN TELEVISION: Moody's Assigns Loss-Given-Default Ratings
MARQUEE HOLDINGS: Moody's Assigns Loss-Given-Default Ratings
MARSH SUPERMARKETS: Moody's Assigns Caa1 Corporate Family Rating
MECACHROME INT'L: Moody's Assigns Loss-Given-Default Ratings
MEDIACOM BROADBAND: Fitch Assigns B- Rating to $300 Million Notes

MESABA AVIATION: Employees Propose Plan to Save Airline & Jobs
METROMEDIA INT'L: Filing Ch. 11 Plan to Consummate Asset Sale
METROMEDIA INT'L: Magticom Earns $63.4 Million in Fiscal 2005
MISSION ENERGY: S&P Upgrades Ratings to B With Positive Outlook
MONTECITO BROADCAST: Moody's Assigns Loss-Given-Default Ratings

MOOG INC: Moody's Assigns Loss-Given-Default Ratings
MTR GAMING: Moody's Assigns Loss-Given-Default Ratings
NEPTUNE PROPERTIES: Keen Auctioning Lake Tyler Development
NORTEL NETWORKS: Partners with Golden West in Wireline Deal
NORTH AMERICAN: Confirmation Hearing Set on October 26

NORTH ATLANTIC: Moody's Assigns Loss-Given-Default Ratings
NORTHWEST AIRLINES: Provides Earnings Outlook for 2006
OLD WORLD: Case Summary & 18 Largest Unsecured Creditors
ONETRAVEL INC: Sells Substantially All Assets to OTV Acquisition
OPBIZ LLC: Moody's Assigns Loss-Given-Default Ratings

OVERWATCH SYSTEMS: Moody's Assigns Loss-Given-Default Ratings
PACER HEALTH: June 30 Stockholders' Deficit Tops $3.4 Million
PAXSON COMMS: Moody's Assigns Loss-Given-Default Ratings
PENINSULA GAMING: Moody's Places LGD4 Rating to 8-3/4% Sr. Notes
PENN TRAFFIC: Chief Executive Officer Robert Chapman Resigns

PINNACLE ENTERTAINMENT: Moody's Assigns Loss-Given-Default Ratings
PINNACLE ENTERTAINMENT: S&P Affirms BB- Rating With Stable Outlook
PLAYTEX PRODUCTS: Moody's Assigns Loss-Given-Default Ratings
POKAGON GAMING: Moody's Assigns LGD3 Rating to Senior Unsec. Notes
PRESERVE AT WOODLAND: Involuntary Chapter 11 Case Summary

RADNOR HOLDINGS: Gets Court Nod to Hire Skadden Arps as Counsel
RADNOR HOLDINGS: Committee Retains Greenberg Traurig as Counsel
RAPID PAYROLL: Has Until February 28 to File Chapter 11 Plan
REAL ESTATE: Court Okays Barr and Barr as Bankruptcy Counsel
REAL ESTATE: Wants Chapter 11 Case Dismissed

REGAL ENTERTAINMENT: Moody's Assigns Loss-Given-Default Ratings
REVLON CONSUMER: Moody's Assigns Loss-Given-Default Ratings
REYNOLDS AMERICAN: Moody's Assigns Loss-Given-Default Ratings
ROUNDY'S SUPERMARKETS: Moody's Assigns B3 Corporate Family Rating
SCOTTISH RE: Ends and Cuts Syndicated Credit Facilities

SELECT MEDICAL: Moody's Assigns Loss-Given-Default Rating
SEQUA CORPORATION: Moody's Assigns Loss-Given-Default Ratings
SINCLAIR TELEVISION: Moody's Assigns Loss-Given-Default Ratings
SKILLED HEALTHCARE: Moody's Assigns Loss-Given-Default Rating
SOLUTIA INC: Extends Pharmacia and Monsanto Bar Date to Feb. 2007

SOLUTIA INC: Can Implement 2006 Annual Incentive Program
SPARTA COMMERCIAL: Recurring Losses Cue Going Concern Doubt
STANDARD AERO: Moody's Assigns Loss-Given-Default Ratings
STATE STREET: Judge Gerling Dismisses Chapter 11 Case
STATER BROS: Moody's Assigns LGD4 Loss-Given-Default Rating

STECKLERS TRANSPORT: Case Summary & 20 Largest Unsecured Creditors
TEKCONNECT CORP: Case Summary & 20 Largest Unsecured Creditors
TENET HEALTHCARE: Inks Five-Year Corporate Integrity Agreement
TFS ELECTRONIC: Judge Baum Confirms Amended Liquidating Plan
TRIAD HOSPITALS: Moody's Assigns Loss-Given-Default Rating

TRIMOL GROUP: Posts $431,000 Net Loss in Second Quarter of 2006
TRIUMPH HEALTHCARE: Moody's Assigns Loss-Given-Default Rating
UNITED CUTLERY: Case Summary & 44 Largest Unsecured Creditors
VANGUARD HEALTH: Moody's Assigns Loss-Given-Default Rating
WARD PRODUCTS: Court Okays McGuireWoods as Bankruptcy Counsel

WARD PRODUCTS: Ct. OKs Halperin Battaglia as Panel's Lead Counsel
WARD PRODUCTS: Ct. OKs Sommers & Schwartz as Panel's Local Counsel
WERNER LADDER: Wants Ct. to Deny Complainant's Stay Relief Demand
WESTERN MEDICAL: Hires Polese Pietzsch as Special Counsel
WESTERN MEDICAL: Hires Snell & Wilmer as Special Counsel

WG PROPERTY: Voluntary Chapter 11 Case Summary
WHITE RIVER: Ct. OKs Realization Advisors as Restructuring Officer
WHITE RIVER: Taps Buchanan Ingersoll as Special Counsel
WINN-DIXIE: Wants to Reject Seven Negotiated Contracts
WINN-DIXIE: Court Okays Rejection of 267 Contracts & Leases

WINN-DIXIE: Judge Funk Okays Assumption of 12 Store Leases
WINN-DIXIE: Leesburg Asset Sold to FL DOT & Edgewood Asset to AJDC
W.R. GRACE: Wants Court to Bar 43 Proofs of Claim
W.R. GRACE: Wants Anderson Memorial's Lift Stay Request Denied
YI INVESTMENT: Case Summary & 11 Largest Unsecured Creditors

* Cooley Godward Completes Merger With Kronish Lieb
* Robert Caruso Joins A&M as Managing Director in Chicago
* Senate OKs Legislation Shielding Tithing from Bankruptcy

* Upcoming Meetings, Conferences and Seminars

                             *********

ABERCO INC: Voluntary Chapter 11 Case Summary
---------------------------------------------
Debtor: ABERCO, Inc.
        2785 Engle Road Northwest
        Atlanta, GA 30318

Bankruptcy Case No.: 06-72450

Chapter 11 Petition Date: October 2, 2006

Court: Northern District of Georgia (Atlanta)

Debtor's Counsel: Diana McDonald, Esq.
                  Suite C
                  George Towne Creek
                  2800 Peachtree Industrial Boulevard
                  Duluth, GA 30097
                  Tel: (678) 542-2255

Estimated Assets: $1 Million to $10 Million

Estimated Debts:  $1 Million to $10 Million

The Debtor does not have any creditors who are not insiders.


ADELPHIA COMMS: ACC Noteholders Object to CEO Pay Pact Amendments
-----------------------------------------------------------------
Martin J. Bienenstock, Esq., at Weil, Gotshal & Manges LLP, in New
York, argued that an expedited consideration and a shortened
objection period are unwarranted and inappropriate for the ACOM
Debtors and the Official Committee of Unsecured Creditors' request
to, among others, amend the existing employment and compensation
agreement with William Schleyer, the Debtor's chief executive
officer and chairman of the board of directors.

Mr. Bienenstock represents Aurelius Capital Management, LP;
Catalyst Investment Management Co., LLC; Drawbridge Global Macro
Advisors LLC; Drawbridge Special Opportunities Advisors LLC;
Elliott Associates, LP; Farallon Capital Management LLC; Noonday
Asset Management LP; and Perry Capital LLC, collectively known as
the ACC Senior Noteholders.

As reported in the Troubled Company Reporter on Sept. 18, 2006
The Debtor and the Official Committee of Unsecured Creditors
sought authority from the U.S. Bankruptcy Court for the Southern
District of New York to:

    (a) amend the existing employment and compensation agreement
        with William Schleyer, the Debtor's chief executive
        officer and chairman of the board of directors,

    (b) implement an extended post-closing incentive program for
        the Debtors' two Executive Vice Presidents, and

    (c) implement an extended post-closing incentive program for
        certain key employees at the level of Senior Vice
        President and below.

Mr. Bienenstock states that given the significant economic impact
of the proposed amendments to the Schleyer Employment Agreement,
the parties-in-interest should be afforded full due process and
allowed opportunity to consider the proposed amendments.

Mr. Bienenstock notes that under the existing Schleyer Employment
Agreement, Mr. Schleyer is entitled to:

   (a) an award of $10,200,000 in stock of reorganized Adelphia
       Communications Corporation on a successful stand-alone
       emergence of the ACOM Debtors, to vest over a two-year
       period commencing on the first anniversary of the
       effective date of the plan of reorganization; and

   (b) a discretionary bonus of up to $5,100,000 in stock of
       reorganized ACOM.

Mr. Bienenstock complains that notwithstanding that the Debtor has
not reorganized as a going concern, the ACOM Debtors and the
Creditors Committee proposed to convert those equity awards into
cash obligations, with the $10,200,000 payable immediately.

Mr. Bienenstock argues that converting the $15,300,000 in equity
awards into cash payments is wholly inconsistent with the economic
benefit of the initial bargain and fails to satisfy the business
judgment standard under Section 363(b) of the Bankruptcy Code.

Mr. Bienenstock contends that the proposed immediate payment of
approximately $5,000,000 in severance to Mr. Schleyer and the
bonus of 100% of his $1,275,000 base salary to continue his role
through March 2007 also cannot satisfy the business judgment
standards under Section 363(b).

"At a minimum, [Mr.] Schleyer's compensation should be outcome-
neutral and remain linked to ultimate distributions to creditors
under a confirmed and consummated chapter 11 plan,"
Mr. Bienenstock maintains.

                       ACOM Debtors Respond

Myron Trepper, Esq., at Willkie Farr & Gallagher LLP, in New York,
contends that the ACC Senior Noteholders' objection is not only an
attack on Mr. Schleyer and his management team, but an attack on
the Creditors' Committee and its advisors.

Mr. Trepper relates that the Creditors' Committee did its due
diligence and concluded that Mr. Schleyer and his team are
important to a successful outcome of the ACOM Debtors' Chapter 11
cases for the creditors.

The Creditors' Committee came to understand that the officers
included in the Extended Post-Closing Incentive Program are not
merely "names on a list," but important elements of an
organization, Mr. Trepper informs the Court.  "As a comprehensive
group, they are uniquely qualified to assist the creditors'
representatives in the transition to the post-closing
environment."

Mr. Trepper contends that since the proposed payment to
Mr. Schleyer would have virtually no impact to the ACC Senior
Noteholders' recoveries, it would appear that their objection is
simply a personal attack on Mr. Schleyer.

"The decision as to who should shepherd the estates through their
wind-down is no the prerogative of the [ACC Senior Noteholders].
It is a judgment to be made by the [ACOM] Debtors and the
Creditors' Committee," Mr. Trepper asserts.

According to Mr. Trepper, it is the Creditors' Committee's
business judgment that the cost to the estates of Mr. Schleyer's
compensation and the Extended Post-Closing Incentive Programs is
far exceeded by the value to be delivered to the unsecured
creditors through the continued efforts of the management team
under Mr. Schleyer's leadership.

Based in Coudersport, Pa., Adelphia Communications Corporation
(OTC: ADELQ) -- http://www.adelphia.com/-- 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.  PricewaterhouseCoopers
serves as the Debtors' financial advisor.  Kasowitz, Benson,
Torres & Friedman, LLP, and Klee, Tuchin, Bogdanoff & Stern LLP
represent the Official Committee of Unsecured Creditors.

Adelphia Cablevision Associates of Radnor, L.P., and 20 of its
affiliates, collectively known as Rigas Manged Entities, are
entities that were previously held or controlled by members of the
Rigas family.  In March 2006, the rights and titles to these
entities were transferred to certain subsidiaries of Adelphia
Cablevision, LLC.  The RME Debtors filed for chapter 11 protection
on March 31, 2006 (Bankr. S.D.N.Y. Case Nos. 06-10622 through 06-
10642).  Their cases are jointly administered under Adelphia
Communications and its debtor-affiliates chapter 11 cases.
(Adelphia Bankruptcy News, Issue Nos. 149; Bankruptcy Creditors'
Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000)


ADELPHIA COMMS: ACC Noteholders Want to Terminate Exclusivity
-------------------------------------------------------------
The ACC Noteholders tell the U.S. Bankruptcy Court for the
Southern District of New York that the ad hoc committee of ACC
Senior Notes supports their request to terminate the ACOM Debtors'
exclusive periods.

Aurelius Capital Management, LP; Catalyst Investment Management
Co., LLC; Drawbridge Global Macro Advisors, LLC; Drawbridge
Special Opportunities Advisors, LLC; Elliott Associates, LP;
Farallon Capital Management, LLC; Noonday Asset Management, LP;
and Perry Capital, LLC, are holders or investment advisors to
certain holders of notes and debentures issued by the Debtor and
collectively known as the ACC Senior Noteholders.

Calyon New York Branch and the Official Committee of Equity
Security Holders also support the ACC Senior Noteholders' request.

Calyon joins the ACC Senior Noteholders' request in the event the
Court denies Calyon's and certain Banks' requests to terminate the
ACOM Debtors' exclusivity periods.

Representing the Equity Committee, Gregory A. Blue, Esq., at
Morgenstern Jacobs & Blue, LLC, in New York, argued that cause
exist to terminate exclusivity:

   (a) The ACOM Debtors have made no real progress toward
       negotiating a confirmable consensual plan of
       reorganization;

   (b) The ACOM Debtors have violated the Court order dated
       April 6, 2006, directing them to offer creditors options
       between a "holdback" plan or a "settlement" plan of
       reorganization, by entering into the Amended Term Sheet
       and filing the Fifth Amended Plan of Reorganization;

   (c) The ACOM Debtors are again improperly using their
       exclusivity, which has now endured for over four years, as
       a sword to force a nonconsensual settlement on the ACOM
       Debtors' estate rather than a shield; and

   (d) The Debtors have effectively waived exclusivity by
       proposing the Fifth Amended Plan jointly with the Official
       Committee of Unsecured Creditors, and ceding exclusivity
       to the Creditors' Committee entirely with respect to those
       portions of the Plan that deal with distributions to the
       Banks.

                     Objections to the Motion

Representing the ACOM Debtors, Marc Abrams, Esq., at Willkie Farr
& Gallagher LLP, in New York, asserts that the Court should
preserve the ACOM Debtors' exclusivity at this critical juncture
of their Chapter 11 cases.

Representing the ACC II Committee, an ad hoc committee comprised
of holders of ACC Notes and Arahova Notes, Jeremy V. Richards,
Esq., at Pachulski Stang Ziehl Young Jones & Weintraub LLP, in Los
Angeles, California, contends that the termination of the ACOM
Debtors' exclusivity will result in a multiplicity of competing
plans of reorganization and lead to the resumption of the Motion
In Aid Process.  "That will, in turn, likely lead to another
settlement, but only after further depletion of the [ACOM]
Debtors' assets and possibly years and years of delay," he says.

Mr. Richards proposes that the exclusivity should be maintained at
least for the limited purpose of allowing the Plan Proponents
-- ACOM Debtors and the Official Committee of Unsecured Creditors
-- to seek confirmation of the ACOM Debtors' Fifth Amended Plan of
Reorganization by October 31, 2006.  Accordingly, the Court and
all parties-in-interest will know whether there is creditor
support for the compromises embodied in the Fifth Amended Plan.

The ACC II Committee comprises Murray Capital Management, Inc.;
Stark & Roth; Franklin Mutual Advisors, LLC; Citadel Limited
Partnership; Avenue Capital Management; Citigroup Financial
Products, Inc.; HBK Investments, L.P.; Varde Partners, Inc.; and
Lionhart Investments, Ltd.

Representing the Official Committee of Unsecured Creditors, David
M. Friedman, Esq., at Kasowitz, Benson, Torres & Friedman LLP, in
New York, argues that notwithstanding that the ACC Senior
Noteholders raised disputed factual issues about the loyalties of
holders of ACC Notes who support the Fifth Amended Plan, the ACC
Senior Noteholders have failed to comply with their own disclosure
obligations under Rule 2019 of the Federal Rule of Bankruptcy
Procedure.  The Rule 2019 Statement of the ACC Senior Noteholders'
counsel does not identify the amounts of the ACC Senior
Noteholders' claims or interests, or the time of their
acquisition.  "[the ACC Senior Noteholders] may have only a
relatively de minimis amount of ACC Bonds which they are abusing
to wreak havoc upon the [Fifth Amended Plan] confirmation
process," he contends.

Mr. Friedman asserts that the Court should prohibit the ACC Senior
Noteholders from participating further in the ACOM Debtors'
Chapter 11 cases pursuant to Rule 2019(b).

Mr. Friedman argues that the Court should not terminate
exclusivity because:

   (1) the ACC Senior Noteholders do not satisfy any of the
       factors for terminating exclusivity;

   (2) the ACOM Debtors did not "waive" exclusivity, and Section
       1121(d) of the Bankruptcy Court provides for termination
       of unexpired exclusivity periods by the court for cause,
       not on the basis of an alleged waiver by a debtor;

   (3) the ACC Senior Noteholders cannot propose a plan because:

       (a) they lack standing to move to terminate exclusivity
           or to propose a plan for the ACOM Subsidiary Debtors
           because they are not creditors of any ACOM Subsidiary
           Debtors according to their Rule 2019 Statement; and

       (b) the ACC Senior Noteholders cannot propose any plan in
           good faith as long as they are represented by Weil,
           Gotshal & Manges LLP, in New York, which has its own
           actual and direct conflicts of interest in connection
           with the ACOM Debtors' estates; and

   (4) termination of exclusivity will be an expensive and
       litigious exercise in futility.

The Ad Hoc Adelphia Trade Claims Committee supports the Creditors
Committee's statements.

Highfields Capital Management and Tudor Investment Corporation,
and W.R. Huff Asset Management Co., L.L.C., also believe that
terminating the ACOM Debtors' exclusivity will only cause further
expense and delay, and jeopardizes the consummation of the Fifth
Amended Plan.

JPMorgan Chase Bank, N.A., administrative agent under the Second
Amended And Restated Credit Agreement dated December 19, 1997,
states that any chapter 11 plan proposed and confirmed in the ACOM
Debtors' Chapter 11 cases must reflect the salient terms of the
FrontierVision Stipulation dated July 27, 2006, which, among other
things, addresses the FrontierVision Lenders' rights to post-
effective date indemnification.

The Ad Hoc Committee of Arahova Noteholders asks Judge Gerber that
if he determines that the ACOM Debtors' exclusivity should be
terminated or modified, any Court order permitting the ACC Senior
Noteholders, or any other party, to propose and solicit a separate
plan of reorganization should be limited to the proposal of a
chapter 11 plan for Arahova Communications, Inc., that either:

   (i) satisfies the claims of Arahova Noteholders in full plus
       interest through the date of payment; or

  (ii) distributes all of the equity to the Arahova Noteholders
       in full satisfaction of their claims.

Kenneth H. Eckstein, Esq., at Kramer Levin Naftalis & Frankel LLP,
in New York, asserts that:

    -- maintaining the ACOM Debtors' exclusivity to permit
       solicitation of the Fifth Amended Plan without the
       confusion of competing plans presents the best path to a
       solution of the ACOM Debtors' cases;

    -- the ACC Senior Noteholders must prove that:

        * the ACOM Debtors are using extensions of exclusivity as
          a tactical device to force other parties to accede to a
          plan;

        * the ACOM Debtors are delaying the filing of a plan;

        * the ACOM Debtors' operations are grossly mismanaged; or

        * there is acrimonious feuding among the ACOM Debtors'
          principals;

    -- purported exclusion of the ACOM Debtors' prepetition
       lenders from settlement negotiations does not warrant a
       termination of exclusivity; and

    -- the ACOM Debtors did not violate Court orders regarding
       the MIA Process or neutrality by proposing a plan
       embodying a settlement negotiated by the real parties-in-
       interest in the Intercreditor Dispute after months of
       extensive, arm's-length negotiations.

Based in Coudersport, Pa., Adelphia Communications Corporation
(OTC: ADELQ) -- http://www.adelphia.com/-- 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.  PricewaterhouseCoopers
serves as the Debtors' financial advisor.  Kasowitz, Benson,
Torres & Friedman, LLP, and Klee, Tuchin, Bogdanoff & Stern LLP
represent the Official Committee of Unsecured Creditors.

Adelphia Cablevision Associates of Radnor, L.P., and 20 of its
affiliates, collectively known as Rigas Manged Entities, are
entities that were previously held or controlled by members of the
Rigas family.  In March 2006, the rights and titles to these
entities were transferred to certain subsidiaries of Adelphia
Cablevision, LLC.  The RME Debtors filed for chapter 11 protection
on March 31, 2006 (Bankr. S.D.N.Y. Case Nos. 06-10622 through 06-
10642).  Their cases are jointly administered under Adelphia
Communications and its debtor-affiliates chapter 11 cases.
(Adelphia Bankruptcy News, Issue Nos. 149; Bankruptcy Creditors'
Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000)


ADELPHIA COMMS: Court Okays Travelers Casualty 2nd Indemnity Pact
-----------------------------------------------------------------
The Honorable Robert E. Gerber, U.S. Bankruptcy Judge for the
Southern District of New York, approved the Second Indemnity
Contract between the ACOM Debtors and Travelers Casualty and
Surety Company of America.

As reported in the Troubled Company Reporter on Aug. 29, 2006, the
Debtor and its debtor-affiliates sought permission from the Court
to:

    (i) enter into a second secured postpetition surety credit
        agreement with Travelers Casualty and Surety Company of
        America and approving its terms; and

   (ii) provide collateral to Travelers to secure obligations
        pursuant to the Second Indemnity Contract.

Pursuant to the First Indemnity Contract approved by the Court on
April 8, 2004, Travelers issued bonds covering certain obligations
of the ACOM Debtors.  Under the terms of the First Indemnity
Contract, the Debtors are required to provide collateral,
consisting primarily of letters of credit, to Travelers for all
bonds issued by Travelers, in an amount equal to between 75% to
100% of the penal amount of the outstanding bonds.

Shelley C. Chapman, Esq., at Willkie Farr & Gallagher, LLP, in New
York, discloses that as of August 18, 2006, and in accordance with
the terms of the First Indemnity Contract, the ACOM Debtors have
issued letters of credit with an aggregate face amount of
approximately $59,800,000 in favor of Travelers and, in addition,
have posted approximately $1,500,000 of cash collateral.

In connection with the closing of the ACOM Debtors' sale of
substantially all of their assets, Time Warner NY Cable, LLC, and
Comcast Corporation have issued bonds to replace substantially all
of the bonds issued by Travelers under the terms of the First
Indemnity Contract, thus, significantly reducing the likelihood
that any of the Existing Bonds will be drawn upon.

As a result, Travelers has agreed to reduce significantly the
amount of collateral that the ACOM Debtors are required to
maintain in respect of the Existing Bonds.

Under the terms of the Second Indemnity Contract, the ACOM Debtors
are required to deliver to Travelers $12,500,000 in cash, which
will serve as collateral for the ACOM Debtors' obligations in
respect of the Existing Bonds.

After the delivery of the Cash Collateral to Travelers, Travelers
will release any and all other collateral that it currently held
in respect of the Existing Bonds, consisting of letters of credit
and cash collateral with an aggregate face amount of approximately
$61,300,000.

In addition, under the terms of the Second Indemnity Contract, and
subject to limited exceptions, all of the Cash Collateral will be
returned to the ACOM Debtors on the third anniversary of the
effective date of the Second Indemnity Contract.

Other principal provisions of the Second Indemnity Contract
include:

Term:               The Second Indemnity Contract and any other
                    Surety Documents will remain in full force
                    and effect until terminated.  The ACOM
                    Debtors may terminate participation in the
                    Second Indemnity Contract by providing 30
                    days advance written notice to Travelers.  In
                    addition, Travelers has certain termination
                    rights based upon, among other things, the
                    occurrence and continuation of certain Events
                    of Default.

Security Interest:  The ACOM Debtors' obligations to Travelers
                    will be secured by a first priority perfected
                    security interest in favor of Travelers in
                    all of the Collateral, which will remain
                    perfected without taking further action,
                    including without limitation, any recordation
                    of any instrument of mortgage or assignment.

Collateral:         On the Effective Date, the ACOM Debtors will
                    deposit $12,500,000 into a control account,
                    which will secure the payment and performance
                    obligations of the ACOM Debtors in respect of
                    the Existing Bonds.  Additionally, the ACOM
                    Debtors will provide collateral to Travelers
                    for all new bonds issued by Travelers after
                    the Effective Date in an amount equal to 100%
                    of the penal amount of those New Bonds.

Payment of
Obligations:        The ACOM Debtors will continue to make
                    payments authorized by the Court for all
                    obligations covered by any bond issued by
                    Travelers and:

                      * will make payments on all claims received
                        to date, which, to the extent not
                        otherwise paid by the ACOM Debtors, will
                        be satisfied with Collateral held by
                        Travelers; and

                      * will otherwise satisfactorily cure any
                        defaults under prepetition obligations
                        which are covered by any Bonds only to
                        the extent authorized, as applicable, by
                        the Court.

Defaults:           Various events relating to any Indemnitor,
                    Bond or a contract in respect of which a Bond
                    is issued constitute Events of Default under
                    the Second Indemnity Contract and would allow
                    Travelers to, among other things, terminate
                    the issuance of Bonds, cancel any Bonds and
                    declare all or any portion of the
                    Indemnitors' obligations under the Second
                    Indemnity Contract and the Bonds immediately
                    due and payable.

Based in Coudersport, Pa., Adelphia Communications Corporation
(OTC: ADELQ) -- http://www.adelphia.com/-- 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.  PricewaterhouseCoopers
serves as the Debtors' financial advisor.  Kasowitz, Benson,
Torres & Friedman, LLP, and Klee, Tuchin, Bogdanoff & Stern LLP
represent the Official Committee of Unsecured Creditors.

Adelphia Cablevision Associates of Radnor, L.P., and 20 of its
affiliates, collectively known as Rigas Manged Entities, are
entities that were previously held or controlled by members of the
Rigas family.  In March 2006, the rights and titles to these
entities were transferred to certain subsidiaries of Adelphia
Cablevision, LLC.  The RME Debtors filed for chapter 11 protection
on March 31, 2006 (Bankr. S.D.N.Y. Case Nos. 06-10622 through 06-
10642).  Their cases are jointly administered under Adelphia
Communications and its debtor-affiliates chapter 11 cases.
(Adelphia Bankruptcy News, Issue Nos. 149; Bankruptcy Creditors'
Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000)


ADVANCED MICRO: Intel Antitrust Trial Scheduled on April 2009
-------------------------------------------------------------
The U.S. District Court for the District of Delaware is set to
begin trial on Advanced Micro Devices Inc.'s antitrust case
against Intel Corp. on April 2009, Don Clark at The Wall Street
Journal reports.

According to The Journal, the Honorable Joseph Farnan had earlier
dismissed a substantial portion of AMD's complaint saying they
were not covered by U.S. law.

The rival chipmakers are embroiled in a dispute over Intel's
alleged monopolistic practices.  Reuters reports that AMD has
accused Intel of gaining market share by forcing major customers
not to buy AMD products and offering rebates.  Intel countered by
asking the Court to dismiss AMD's case.

According to Reuters, Judge Farnan ruled that AMD failed to show
proof that Intel's practices had a direct effect on AMD's
operations, in order to permit a U.S. antitrust claim.

Mr. Clark writes that AMD and Intel continue to disagree over the
meaning of the Court's ruling.   The Court has directed the two
companies to work with a court-appointed special master on
discovery-related matters.

                             About AMD

Based in Sunnyvale, California, Advanced Micro Devices Inc. (NYSE:
AMD) -- http://www.amd.com/-- is a global provider of
microprocessor solutions for computing, communications and
consumer electronics markets.

                         *    *     *

As reported in the Troubled Company Reporter on July 25, 2006,
Moody's Investors Service placed the ratings of Advanced Micro
Devices, Inc. under review for possible downgrade following an
agreement to acquire ATI Technologies for approximately
$5.4 billion.

Financing is expected to consist of approximately $4.2 billion
of cash and $1.2 billion of AMD's common stock.  ATI, with
approximately $2.2 billion of latest twelve month revenues, is a
leading vendor or graphics processors that enhance the display of
PC's, portable devices, and other consumer electronics devices and
is based in Toronto Canada.  The acquisition, which has been
approved by both boards of directors, is expected to close by the
fourth quarter of 2006 and is subject to customary approvals and
consents.

Ratings under review for downgrade include the Company's Ba3
Corporate Family Rating; B1 rating of its Senior unsecured note
$390 million due 2012; (P)Ba3 rating of its Senior secured shelf
registration; (P)B1 rating of its Senior unsecured shelf
registration; (P)B2 rating of its Subordinated shelf registration;
and (P)B3 rating of its Preferred stock shelf registration.


ADVENTURE PARKS: Taps Fowler Holley to Provide Tax Services
-----------------------------------------------------------
Adventure Parks Group, LLC, and its debtor-affiliates obtained
authority from the U.S. Bankruptcy Court for the Middle District
of Georgia to employ Fowler, Holley, Rambo, Haynes & Stavley,
P.C., as accountants.

As accountants, Fowler Holley will be required to undertake
accounting, auditing and tax services that include:

    * monthly financial reports;

    * quarterly statement of disbursements;

    * monthly bank account reconciliation report;

    * monthly check register report;

    * monthly tax report;

    * year-end audited financial statements;

    * federal, state and local tax returns; and

    * monthly summary of office or owner compensation and
      personnel and insurance coverage.

Carlton W. Holley, a shareholder of Fowler Holley, tells the Court
that the firm's professionals bill:

       Professional                             Hourly Rate
       ------------                             -----------
       Curtis G. Fowler, CPA, PFS, CFP              $260
       Carlton W. Holley, CPA                       $250
       Richard A. Stalvey, CPA                      $250
       C. Wayne Rambo, CPA, CVA                     $250
       James E. Folsom, CPA                         $215
       R. Arden DeLoach, Jr., CPA                   $190
       G. Michael Walker, CPA                       $180
       Josie Miller, CPA                            $180
       Robert D. Elliott, CPA                       $135
       Tally M. Wisenbaker, III                     $135
       Emily A. Browning                            $135
       Judith A. Sims                               $100
       Melissa Rhodes                                $95
       Whitney H. Jacobs                             $95

Mr. Holley assures the Court that his firm does not hold or
represent any interest adverse to the Debtors or their estates.

Headquartered in Valdosta, Georgia, Adventure Parks Group, LLC, is
the holding company of Wild Adventures and Cypress Gardens.  Wild
Adventures operates an amusement park in Valdosta, Georgia while
Cypress operates an amusement park in Winter Haven, Florida.  The
Company, along with Wild Adventures and Cypress Gardens, filed for
chapter 11 protection on Sept. 11, 2006 (Bankr. M.D. Ga. Case Nos.
06-70659 through 06-70661).  George H. McCallum, Esq., James P.
Smith, Esq., and Ward Stone, Jr., Esq., at Stone & Baxter, LLP,
represent the Debtors.  When the Debtors filed for protection from
their creditors, they estimated assets and debts between
$50 million and $100 million.


ADVENTURE PARKS: Wants Summerford to Provide Forensic Accounting
----------------------------------------------------------------
Adventure Parks Group, LLC, and its debtor-affiliates obtained
authority from the U.S. Bankruptcy Court for the Middle District
of Georgia to employ Summerford Accountancy, P.C., to perform
accounting and forensic services.

Summerford will assist the Debtors in investigating the acts and
conduct of management as related to the property, liabilities and
financial condition of the Debtors, or any matter, which may
affect the administration of the Debtors' estates or their right
to a discharge.

Summerford's investigation will also relate to the operations of
the Debtors' businesses and desirability of their continuance, the
source of any money or property acquired or to be acquired by the
Debtors for the purposes of consummating aplan and the
consideration given or offered, the formulation and prosecution of
claims for business interruption, and any other matter relevant to
the cases of formulation of a plan.

Ralph Q. Summerford, a shareholder at Summerford Accountancy,
tells the Court that the firm's professionals bill:

      Professional                               Hourly Rate
      ------------                               -----------
      Donald H. Minyard, Ph.D., CPA/ABV,             $325
          BVAL, CDFA, CFE

      Ralph Q. Summerford, CPA/ABV,                  $315
          CFE, CIRA, CVA

      Alton Sizemore, CPA, CFE                       $265
      Kelly J. Todd, CPA/ABV, CVA                    $265
      Wade Morgan, CEECS                             $215
      Lisa Robbins, CFE                              $150
      Lindsay Gill, CFE                              $150
      Alicia Misso, Forensic Analyst                 $150
      Dana Steely, Forensic Analyst                  $115

      Administrative                              $65 - $105

Mr. Summerford assures the Court that his firm does not hold or
represent any interest adverse to the Debtors or their estates.

Headquartered in Valdosta, Georgia, Adventure Parks Group, LLC, is
the holding company of Wild Adventures and Cypress Gardens.  Wild
Adventures operates an amusement park in Valdosta, Georgia while
Cypress operates an amusement park in Winter Haven, Florida.  The
Company, along with Wild Adventures and Cypress Gardens, filed for
chapter 11 protection on Sept. 11, 2006 (Bankr. M.D. Ga. Case Nos.
06-70659 through 06-70661).  George H. McCallum, Esq., James P.
Smith, Esq., and Ward Stone, Jr., Esq., at Stone & Baxter, LLP,
represent the Debtors.  When the Debtors filed for protection from
their creditors, they estimated assets and debts between
$50 million and $100 million.


AFFILIATED COMPUTER: Stock Option Probe Delays Form 10-K Filing
---------------------------------------------------------------
Affiliated Computer Services, disclosed that it is not in a
position to file its annual report on Form 10-K for its fiscal
year ended June 30, 2006 by Sept. 28, 2006, which was the
additional time period permitted under the SEC rules for an issuer
to be deemed to have filed in a timely manner.

ACS is conducting an internal investigation into its historical
stock option practices during the period 1994 to date and related
disclosure in its Form 10-Q, filed May 15, 2006, in response to a
pending informal investigation by the Securities and Exchange
Commission and a grand jury subpoena issued by the United States
Attorney for the Southern District of New York.  The internal
investigation is ongoing, and is expected to be completed in the
Company's second fiscal quarter.  The Company will not be in a
position to determine the timing for the filing of its Form 10-K
until the investigation is complete and the Company's independent
auditors have had the opportunity to review the investigation's
findings.

The Company has notified the New York Stock Exchange, Inc., that
the Company failed to file its Form 10-K in a timely manner, and,
as a result, the Company is subject to the procedures specified in
the NYSE's listed company manual.  As a result, among other
things, the NYSE will monitor the Company and the filing status of
the Form 10-K.  If the Company has not filed its Form 10-K within
six months of its filing due date, the NYSE will determine whether
the Company should be given up to an additional six months to file
its Form 10-K or may instead commence suspension and delisting
procedures.  The Company expects to receive a letter from the NYSE
regarding these procedures.

In addition, the Company has received an amendment, consent, and
waiver from the lenders under its March 2006 Credit Facility with
respect to, among other provisions, certain of the covenants of
the Company under the credit facility, including the requirement
that the Company deliver audited financial statements within 90
days of the end of its fiscal year.  Approximately $2 billion in
borrowings are outstanding under the credit facility and the
amendment, consent, and waiver requires that audited financial
statements be obtained by Dec. 31, 2006.

Headquartered in Dallas, Texas, Affiliated Computer Services,
Inc., (NYSE: ACS) -- http://www.acs-inc.com/-- provides business
process outsourcing and information technology solutions to
commercial and government clients.


AFFILIATED COMPUTER: Form 10-K Filing Delay Cues S&P's Downgrade
----------------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating and senior secured ratings on Dallas, Texas-based
Affiliated Computer Services, Inc. to 'B+' from 'BB'.

The ratings remain on CreditWatch with negative implications where
they were placed on Jan. 27, 2006.

"The ratings downgrade and CreditWatch follows the company's
announcement that it is not in a position to file its annual
report on Form 10-K for its fiscal year ended June 30, 2006, by
Sept. 28, 2006, which was the additional time period permitted
under the SEC rules for an issuer to be deemed to have filed in a
timely manner," said Standard & Poor's credit analyst Philip
Schrank.

The company said that it would not be in a position to determine
the timing for the filing of its Form 10-K until its internal
investigation is complete and the company's independent auditors
have had the opportunity to review the investigation's findings.

The company has received an amendment, consent, and waiver from
the lenders under its March 2006 credit facility with respect to,
among other provisions, certain of the covenants of the company
under the credit facility, including the requirement that the
company deliver audited financial statements within 90 days of the
end of its fiscal year.

Approximately $2 billion in borrowings are outstanding under the
credit facility and the amendment, consent, and waiver requires
that audited financial statements be obtained by Dec. 31, 2006.

Additionally, the company has filed a lawsuit after receiving a
letter from persons claiming to hold certain of its senior notes
advising the company that it was purportedly in default of its
covenants under a June 6, 2005, bond offering.

Standard & Poor's will monitor the progress being made with regard
to the filing of audited financial statements and reassess the
rating as the December 31 deadline approaches.  Standard & Poor's
will also monitor the company's available sources of liquidity, as
well as negotiations with lenders and other triggering events that
might cause a payment acceleration of ACS' debentures.


AGILENT TECHNOLOGIES: Earns $227 Million in Third Quarter
---------------------------------------------------------
Agilent Technologies, Inc., has filed its financial statements for
the three months ended July 31, 2006, with the Securities and
Exchange Commission.

The Company reported $227 million of net income on $1.4 billion of
net revenues for the three months ended June 30, 2006, compared to
$104 million of net income on $1 billion of revenues for the same
period in 2005.

A full-text copy of the Company's Quarterly Report is available
for free at http://researcharchives.com/t/s?12d7

Agilent Technologies Inc. (NYSE: A) -- http://www.agilent.com/--  
is the world's premier measurement company and a technology leader
in communications, electronics, life sciences and chemical
analysis.  The company's 20,000 employees serve customers in more
than 110 countries.  Agilent had net revenue of $5.1 billion in
fiscal 2005.

                           *     *     *

Standard & Poor's assigned on April 13, 2005, BB+ credit ratings,
with a positive outlook, to Agilent Technologies.  S&P raised its
rating outlook on Agilent on Aug. 15, 2005, to positive, but left
the company's corporate credit and senior unsecured debt ratings
unchanged.  In December 2005, Moody's Investors Service affirmed
their credit ratings of Agilent, leaving unchanged the senior
implied debt rating of Ba2 and outlook rating of stable.  Moody's
also affirmed the speculative grade liquidity rating of SGL-1 in
June 2006.


AMARANTH ADVISORS: Losses Prompt SEC to Probe Hedge Funds
---------------------------------------------------------
The Securities and Exchange Commission is investigating the reason
behind Amaranth Advisors' big losses, Hartford Courant reports,
citing a top SEC official.

The probe centers on whether Amaranth, whose losses resulted from
bad bets on natural gas prices, misled its investors, the report
says.

The DailyFX relates that Amaranth's investors saw the value of
their investment decline by 35% after being up as much as 20% this
year -- an overall draw down of 50% all in a remarkably short
period of time.  Some institutional clients like San Diego County
Employees Retirement Association were badly hurt.

SDCERA, which oversees more than $7 billion for its retirees and
employees, invested $175 million in Amaranth last year.  But with
Amaranth down about 35% so far in 2006, SDCERA may have lost more
than $50 million on its investment this year alone, DailyFX
reveals.

SEC Commissioner, Annette L. Nazareth said, "From an enforcement
perspective, it's really whether investors received misleading
information."  Ms. Nazareth, added that SEC is not focused on the
roles of big United States banks that did business with Amaranth
in the months leading up to its disclosure last week of about
$6 billion in losses.

"The banks and broker-dealers don't seem to have been exposed to
those losses and have done a good job managing their risk.  SEC is
interested in further oversight of hedge funds because of concerns
that major implosions could pose systemic risks.  In the Amaranth
case, however, any such risks appear to have been contained," Ms.
Nazareth said.

Amaranth faces multiple regulatory probes and possible lawsuits in
the wake of its losses.  Connecticut Attorney General Richard
Blumenthal had previously disclosed that he is collecting evidence
and reviewing facts concerning the large losses at Amaranth.

Amaranth Advisors, based in Greenwich, Connecticut with offices in
Toronto, Canada, London, England and Singapore, is an investment
management firm.  Amaranth specializes in a broad spectrum of
alternative investments and trading strategies, through a multi-
strategy investment fund and fund dedicated to long-short
equities.


AMARANTH ADVISORS: Retains Fortress Investment as Sub-Advisor
-------------------------------------------------------------
Amaranth Advisors has retained Fortress Investment Group LLC, a
New York based $24 billion alternative asset manager, as a sub-
advisor to the Amaranth multi-strategy funds.  Fortress will
assist the Amaranth team in facilitating the orderly disposition
of the funds' investment assets.

Amaranth announced on Friday that its multi-strategy funds had
suspended redemptions to allow for the sale of their investment
assets in an orderly fashion so as to generate liquidity for
investors.  Terms of the sub-advisory agreement were not
disclosed, but Amaranth indicated that the economic burden of the
fees associated with this arrangement will be borne by Amaranth
and not the Amaranth funds.

"We look forward to bringing together talented professionals from
both Amaranth and Fortress with the goal of maximizing value for
our investors.  Fortress is highly regarded in the investor
community and will provide the Amaranth team with an independent
perspective, as well as potential strategic support," said Nick
Maounis, Amaranth's Chief Executive Officer.

Peter L. Briger, Jr., principal of Fortress added, "Fortress
expects to provide strategic and tactical advice to Amaranth with
the objective of maximizing value for investors, and will work
with Nick and the Amaranth team to preserve the value of the
platform that they have created."

Amaranth Advisors, based in Greenwich, Connecticut with offices in
Toronto, Canada, London, England and Singapore, is an investment
management firm.  Amaranth specializes in a broad spectrum of
alternative investments and trading strategies, through a multi-
strategy investment fund and fund dedicated to long-short
equities.

                           *     *     *

Amaranth faces multiple regulatory probes and possible lawsuits
after disclosing in September that it had lost 35%, or
approximately $6 billion, of the value of its natural gas bets due
to a dramatic move in gas prices.  Amaranth transferred its energy
portfolio to Citadel Investment Group and J.P. Morgan Chase & Co.
following the loss announcement.


AMERICAN HOMEPATIENT: U.S. Supreme Ct. Denies Writ of Certiorari
----------------------------------------------------------------
The U.S. Supreme Court has denied the petition for writ of
certiorari filed by the holders of American HomePatient, Inc.'s
senior debt.  The Supreme Court's denial of the petition for writ
of certiorari effectively concludes the debt holders' efforts to
overturn the orders confirming the Company's plan of
reorganization, which was originally confirmed by the Bankruptcy
Court in 2003.

                    About American HomePatient

American HomePatient, Inc., is one of the United States' largest
home health care providers with 274 centers in 35 states.  Its
product and service offerings include respiratory services,
infusion therapy, parenteral and enteral nutrition, and medical
equipment for patients in their home.

American HomePatient and its debtor-affiliates filed for chapter
11 protection on Aug. 5, 2002 (Bankr. M.D. Tenn. Case No.
02-08915).  Glenn B. Rose, Esq., at Harwell Howard Hyne Gabbert &
Manner, PC, represents the Debtors.  Houlihan Lokey Howard & Zukin
Capital served as the Company's Financial Advisors.

American HomePatient sought and obtained confirmation of a chapter
11 plan in May 2003 that forced a restructuring its long-term debt
obligations to its secured lenders, promised to full payment to
unsecured creditors with interest, and left shareholders
unimpaired.  The plan took effect in July 2003.

At June 30, 2006, the Company's balance sheet showed total assets
of $279.97 million and total liabilities of $293.69 million,
resulting in a $14.38 million shareholders' deficit.


AMH HOLDINGS: Moody's Assigns Loss-Given-Default Rating
-------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the U.S. building products sector this week, the
rating agency confirmed its B3 Corporate Family Rating for AMH
Holdings, Inc.

Moody's also revised its rating on the company's $446 million
Senior Discount Global Notes Due 2014 to Caa2 from Caa3, and
assigned those debentures an LGD5 rating suggesting noteholders
will experience a 79% loss in the event of a default.

Additionally, Moody's revised its probability-of-default ratings
and assigned loss-given-default ratings on these loans and bond
debt obligations of the company's subsidiary Associated Materials
Holdings Inc.'s subsidiary Associated Materials Incorporated:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
   $90m Gtd. Sr.
   Sec. Revolving
   Credit Facility
   Due 2009               B3      Ba3      LGD2       11%

   $165m 9.75% Gtd.
   Sr. Sub. Global
   Notes Due 2012        Caa2     B3       LGD4       51%

   $175m Gtd. Sr.
   Sec. Term Loan B
   Due 2010               B3      Ba3      LGD2       11%

Moody's explains that current long-term credit ratings are
opinions about expected credit loss which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

AMH Holdings, Inc., through its wholly owned subsidiary,
Associated Materials Holdings Inc., and through that subsidiary's
wholly owned subsidiary, Associated Materials Incorporated,
manufactures and distributes exterior residential building
products.


ANCHOR GLASS: Wants 12 Officers & Directors' Claims Disallowed
--------------------------------------------------------------
Anchor Glass Container Corporation asks the U.S. Bankruptcy Court
for the Middle District of Florida to disallow 12 claims filed by
its former officers and directors:

      Claimant                 Claim No.     Type of Claim
      --------                 ---------     -------------
      Harold Greathouse          1222          unsecured
      Mark J. Karrenbauer        1421.2        unsecured
      Darrin Campbell            1459          undefined
      Richard M. Deneau          1460          undefined
      Peter T. Reno              1461          undefined
      Joel A. Asen               1462          undefined
      James Chapman              1463          undefined
      Jonathan Gallen            1464          undefined
      Jonathan Gallen            1464.1        undefined
      George Hamilton            1465          undefined
      Timothy F. Price           1466          undefined
      Lenard B. Tessler          1467          undefined

Before the Debtor filed for bankruptcy, the former officers and
directors were defendants in two lawsuits pending in the United
States District Court for the Middle District of Florida, Tampa
Division:

   (1) A consolidated amended class action entitled Davidco
       Investors, LLC, individually and on behalf of all others
       similarly situated v. Anchor Glass Container Corporation,
       et al.; and

   (2) A shareholder derivative action entitled Christopher
       Carmona, derivatively on behalf of Anchor Glass Container
       Corporation v. Richard M. Deneau, et al.

The Claims are Subordinated Claims as described in Anchor Glass'
Second Amended Plan of Reorganization, Robert A. Soriano, Esq.,
at Shutts & Bowen LLP, in Tampa, Florida, relates.  Pursuant to
the Amended Plan, the Claims were cancelled and extinguished,
together with Class 6 Interests.

Headquartered in Tampa, Florida, Anchor Glass Container
Corporation is the third-largest manufacturer of glass containers
in the United States.  Anchor manufactures a diverse line of flint
(clear), amber, green and other colored glass containers for the
beer, beverage, food, liquor and flavored alcoholic beverage
markets.  The Company filed for chapter 11 protection on Aug. 8,
2005 (Bankr. M.D. Fla. Case No. 05-15606).  Robert A. Soriano,
Esq., at Carlton Fields PA, represents Anchor Glass in its
restructuring efforts.  Edward J. Peterson, III, Esq., at
Bracewell & Guiliani, represents the Official Committee of
Unsecured Creditors.  When Anchor Glass filed for protection from
its creditors, it listed $661.5 million in assets and $666.6
million in debts.  The Court confirmed Anchor Glass' second
Amended Plan of Reorganization on April 18, 2006.  Anchor Glass
emerged from Chapter 11 protection on May 3, 2006. (Anchor Glass
Bankruptcy News, Issue No. 30; Bankruptcy Creditors' Service,
Inc., http://bankrupt.com/newsstand/or 215/945-7000)


AQUILA INC: Improved Credit Profile Cues Fitch to Upgrade Ratings
-----------------------------------------------------------------
Fitch upgraded Aquila, Inc.'s ratings:

   -- Issuer Default Rating to 'B' from 'B-'
   -- Senior Secured to 'BB/RR1' from 'BB-/RR1'
   -- Senior Unsecured to 'B+/RR3' from 'B-/RR4'

Approximately $1.1 billion of debt is affected.  The Outlook is
Stable.

The upgrade reflects the utility's improved credit profile and
improved recovery prospects as a result of ILA's debt reduction
and restructuring efforts during the past year.  Using proceeds
from utility and non-utility asset sales, ILA has reduced debt and
debt equivalents by approximately $720 million.

Fitch's recovery methodology uses a distressed multiple to
determine enterprise valuation.  This methodology also considers
debt equivalents, like tolling agreements, on a net present value
basis.

The Stable Rating Outlook reflects Fitch's expectation that ILA's
credit metrics will remain within parameters for the 'B' rating
category over the next year.  Cash flow from operations should
benefit from lower working capital needs due to lower commodity
prices, lower interest expense due to the retired debt, and lower
extraordinary tax payments from the gain on sale of assets.

Further debt reductions are possible using proceeds from the sale
of ILA's Kansas electric utility, offset by higher capital
spending for the Iatan facility funded by a secured bank line.
The Kansas utility sale is expected to close for approximately
$255 million, exclusive of any working capital adjustments.

ILA recently filed in Missouri for an increase in base rates and
the implementation of a fuel cost recovery mechanism.  The filing
also includes a request for recovery of a generation facility like
the Aries power project that ILA recently announced it would
purchase from Calpine for $158.5 million.

Further debt reductions or a favorable outcome in the rate case
would improve credit metrics and could result in a ratings
upgrade.

ILA is a regulated electric and gas utility serving more than
460,000 electric and 900,000 natural gas customers in five
Midwestern states.


AT HOLDINGS: Moody's Assigns Loss-Given-Default Ratings
-------------------------------------------------------
In connection with Moody's Investors Service's implementation
of its new Probability-of-Default and Loss-Given-Default rating
methodology, the rating agency confirmed its B2 Corporate
Family Rating for AT Holdings Corporation and its Caa1 rating
on the company's 11.75% Senior Discount Global Notes due 2012
Due 2014.  Moody's assigned those debentures an LGD5 rating,
suggesting noteholders will experience a 92% loss in case of
default.

Moody's explains that current long-term credit ratings are
opinions about expected credit loss, which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

AT Holdings Corporation, based in Cleveland, Ohio, through its
wholly-owned subsidiaries Argo-Tech Corporation, designs,
manufactures and services high performance fuel flow devices
primarily for the aerospace industry.


ATLANTIC MARINE: Moody's Assigns Loss-Given-Default Ratings
-----------------------------------------------------------
In connection with Moody's Investors Service's implementation
of its new Probability-of-Default and Loss-Given-Default rating
methodology, the rating agency revised its B1 Corporate Family
Rating for Atlantic Marine Holding Company to B1.  Additionally,
Moody's revised its probability-of-default ratings and assigned
loss-given-default ratings on these loans and bond debt
obligations:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
   Sr. Secured
   Revolving Credit
   Facility due 2012       B1       B1     LGD3        36%

   Sr. Secured Term
   Loan due 2013           B1       B1     LGD3        36%

Moody's explains that current long-term credit ratings are
opinions about expected credit loss, which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

Atlantic Marine provides maintenance, repair, overhaul, and
conversion services for military and commercial vessels, as
well as manufacturing ship modules and subsections for other
shipyards.


ATLANTIS PLASTICS: Moody's Assigns Loss-Given-Default Ratings
-------------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for U.S. non-paper packaging sector, the rating agency
confirmed its B2 Corporate Family Rating for Atlantis Plastics,
Inc.

Additionally, Moody's revised or held its probability-of-default
ratings and assigned loss-given-default ratings on these loans and
bond debt obligations:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
   $25 million
   revolving credit
   facility due 2011      B2       B1      LGD3       35%

   $120 million
   senior term loan
   due 2011               B2       B1      LGD3       35%

   $75 million
   junior term loan
   due 2012              Caa1     Caa1     LGD5       84%

Moody's explains that current long-term credit ratings are
opinions about expected credit loss which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

Headquartered in Atlanta, Georgia, Atlantis Plastics Inc. --
http://www.atlantisplastics.com/-- manufactures specialty plastic
films, and custom molded and extruded plastic products in the
United States.


AUSTIN COMPANY: Files Amended Disclosure Statement in Ohio
----------------------------------------------------------
The Austin Company and its debtor-affiliates delivered to the U.S.
Bankruptcy Court for the Northern District of Ohio an amended
disclosure statement explaining their Amended Chapter 11 Plan of
Reorganization.

                    Overview of the Plan

The Debtors tell the Court that on the effective date, all of
their estates will be substantively consolidated for the purposes
of distribution and all assets will be transferred to, and will
vest in, the Liquidating Trust, principally for the benefit of
Creditors.  A Liquidating Trustee will be appointed under the Plan
and will continue to liquidate all assets, reconcile claims and
make Distributions to the Creditors holding Allowed Claims.

The Official Committee of Unsecured Creditors will appoint an
Administrator to oversee the Liquidating Trustee.

                     Treatment of Claims

Under the Amended Plan, Administrative Claims, estimated at
$3.8 million, and Priority Tax Claims, estimated at $350,000, will
be paid in full.

The Debtors say that St. Paul's secured claim of up to $14 million
is currently being challenged in an adversary proceeding and the
final outcome will determine the extent, amount and character of
the claim.  In the event that St. Paul is successful in the
adversary proceeding, St. Paul's secured claim will paid in full
on the later of:

    (a) the Initial Distribution Date; or

    (b) as soon as practicable after the claim is allowed by Final
        Order.

Priority Unsecured Claims, estimated between $20,000 to $50,000,
will be paid in full, without interest.

St. Paul has asserted a security interest in certain of their
assets and claimed that certain of the assets are being held in
trust for the sole benefit of St. Paul, and thus are unavailable
to the Estates for distribution. The Debtors dispute each of St.
Paul's theories and have objected or will object to its Claim.
However, if St. Paul is successful on one or more of those
theories, both the Estimated Amount of General Unsecured Debt and
the Estimated Recovery for General Unsecured Claims will be
reduced.

The Debtors tell the Court that assuming that either St. Paul's
Claim is a Secured Claim at the maximum estimated collateral asset
value or that those assets are held in trust for the benefit of
St. Paul, the estimated amount for General Unsecured Claims will
be $49 million with a 15% recovery for unsecured creditors.  If
St. Paul's entire claim is ruled as a General Unsecured Claim,
then the estimated amount will be $56 million with a 25% recovery.

The Debtors dispute the entire Contingent, Unliquidated Asbestos
Demand Claims and do not believe that they have liability on any
of the Demand Claims or that the holders of such Demand Claims are
Creditors of their estates.  In complete satisfaction of these
Demand Claims, holders of Allowed Demand Claims will receive the
right to pursue the Asbestos Insurance Proceeds, if any, Demand
Claims shall not receive any Distribution under the Plan.  Upon
the effective date, the holders of Demand Claims will be released
from the permanent injunction and may pursue their Demand Claims
against Asbestos Insurance Proceeds in a state or federal court of
appropriate jurisdiction.

On the effective date, equity interests will be cancelled and
holders of these interests will receive nothing under the Plan.

A full-text copy of the Debtors' Amended Disclosure Statement is
available for a fee at:

  http://www.researcharchives.com/bin/download?id=061003204555

                 About Austin Company

Headquartered in Cleveland, Ohio, The Austin Company is an
international firm offering a comprehensive portfolio of
in-house architectural, engineering, design-build, construction
management and consulting services.  The Company also offers
value-added strategic planning services including site location,
transportation and distribution consulting, and facility and
process audits.  The Company and two affiliates filed for
chapter 11 protection on Oct. 14, 2005 (Bankr. N.D. Ohio Lead
Case No. 05-93363).  Christine M. Pierpont, Esq., at Squire,
Sanders & Dempsey, LLP, represents the Debtors in their
restructuring efforts.  M. Colette Gibbons, Esq., and Victoria E.
Powers, Esq., at Schottenstein Zox & Dunn Co., LPA, represent the
Official Committee of Unsecured Creditors.  When the Debtors filed
for protection from their creditors, they estimated assets and
debts between $10 million to $50 million.


AXIA INC: Moody's Assigns Loss-Given-Default Rating
---------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the U.S. building products sector this week,
the rating agency revised its Corporate Family Rating for Axia,
Inc. to B3 from B2.

Additionally, Moody's held its B2 ratings on the company's
$25 million Senior Secured Revolver Due 2010, and $150 million
Senior Secured Term Loan Due 2012.  Moody's assigned those
debentures an LGD3 rating suggesting lenders will experience a
31% loss in the event of a default.

Moody's explains that current long-term credit ratings are
opinions about expected credit loss which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

Headquartered in Houston, Texas, Axia Incorporated, manufactures,
markets and distributes productivity enhancing construction tools,
formed wire products, industrial bag closing equipment and
flexible conveyors through three business units namely Ames,
Nestaway and Fischbein.


BALL CORPORATION: Moody's Assigns Loss-Given-Default Ratings
------------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for U.S. non-paper packaging sector this week, the
rating agency confirmed its Ba1 Corporate Family Rating for Ball
Corporation.

Additionally, Moody's held its probability-of-default ratings and
assigned loss-given-default ratings on these loans and bond debt
obligations:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
   $715 million
   sr. secured
   multi-currency
   revolver due 2011      Ba1     Ba1      LGD4       52%

   $35 million
   sr. secured
   revolver due 2011      Ba1     Ba1      LGD4       52%

   $157.2 million
   sr. secured term
   loan A due 2011        Ba1     Ba1      LGD4       52%

   $447.7 million
   sr. secured term
   loan B due 2011        Ba1     Ba1      LGD4       52%

   $133.5 million
   sr. secured term
   loan C due 2011        Ba1     Ba1      LGD4       52%

   $500 million
   sr. secured term
   loan D due 2011        Ba1     Ba1      LGD4       52%

   $550 million
   sr. unsecured
   6.875% notes
   due Dec 2012           Ba2     Ba1      LGD4       52%

   $450 million
   sr. unsecured
   notes due Mar 2018     Ba2     Ba1      LGD4       52%

Moody's explains that current long-term credit ratings are
opinions about expected credit loss which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

Headquartered in Broomfield, Colorado, Ball Corporation --
http://www.ball.com/-- offers metal and plastic packaging to the
beverage and food industries worldwide. It offers aluminum and
steel beverage cans for carbonated soft drinks, beer, energy
drinks, and other beverages.


BP METALS: S&P Puts Low-B Ratings on Proposed $145 Million Debts
----------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B+' corporate
credit rating to Cleveland-based custom components manufacturer
BP Metals LLC.

At the same time, Standard & Poor's assigned its 'BB-' bank loan
rating and '1' recovery rating to BP Metals' proposed $120 million
first-lien senior secured facilities, reflecting a full
expectation of recovery (100%) in the event of a payment default.

In addition, Standard & Poor's assigned its 'B-' bank loan rating
and '5' recovery rating to the company's proposed $25 million
second lien facilities, reflecting a negligible expectation of
recovery (0-25%) in a default scenario.  The outlook is stable.

Proceeds from the issuance will be used to fund a dividend
distribution to equity shareholders, as well as to refinance
existing debt obligations.  BP Metals is a portfolio company of
Blue Point Capital Partners, L.P., a middle-market focused private
equity sponsor.

"The speculative-grade ratings on BP Metals reflect the company's
leveraged capital structure and exposure to cyclical end markets,"
said Standard & Poor's credit analyst James Siahaan.

BP Metals was assembled in July 2006 from a group of portfolio
companies of Blue Point Capital.  The newly integrated company
derives its revenues from four distinct operating divisions:

   * castings (37% of trailing twelve months' revenue);
   * metal componentry (33%);
   * metal forgings (20%); and
   * aluminum and plastic casings (10%).


CALPINE CORP: Wants to Expand Scope of Miller Buckfire's Duties
---------------------------------------------------------------
Calpine Corp. and its debtor-affiliates ask the U.S. Bankruptcy
Court for the Southern District of New York for authority to
expand Miller Buckfire & Co., LLC's responsibilities to include:

   (a) identifying potential purchasers for certain assets,
       companies or businesses;

   (b) assisting with due diligence for potential purchasers,
       including setting up and managing online data rooms, and
       facilitating management meetings;

   (c) evaluating indications of interest and analyzing economic
       and other provisions of bids received from potential
       purchasers;

   (d) negotiating definitive asset purchase agreements;

   (e) assisting the Debtors and their counsel in executing
       auctions, as necessary, pursuant to Section 363 of the
       Bankruptcy Code; and

   (f) assisting with raising, structuring and negotiating
       stapled financing products, as needed.

If at any time during the Fee Period, a Sale of any Specified
Asset is consummated, or an agreement to effect a Sale of any
Specified Asset is entered into, and concurrently the Sale is
consummated, Miller Buckfire will be entitled to receive a
transaction fee, contingent on the consummation of the Sale and
payable at its closing, provided that:

   (a) the minimum Specified Asset Sale Fee for each Sale will
       equal $750,000;

   (b) if any Specified Assets are sold as a group, then the
       percentage used to calculate the Specified Asset Sale Fee
       will be determined based on the Aggregate Consideration of
       all Specified Assets included in the grouping;

   (c) 50% of the first $10,000,000 of Specified Asset Sale Fees
       paid to Miller Buckfire will be credited against the
       Completion Fee; and

   (d) 75% of all Specified Asset Sale Fees paid to Miller
       Buckfire in excess of $10,000,000 will be credited against
       the Completion Fee.

The Debtors will reimburse Miller Buckfire for any necessary out-
of-pocket expenses and other reasonable fees and expenses,
including expenses of counsel retained with the Debtors' consent.

The Debtors agree to indemnify Miller Buckfire.

Richard M. Cieri, Esq., at Kirkland & Ellis LLP, in New York,
relates that before the entry of the Original Retention Order,
the Debtors have contemplated that the scope of Miller Buckfire's
employment would include the Additional Services.  However, in an
effort to efficiently manage professional fees, the Debtors
decided to manage their asset divesture program without the
assistance of an experienced investment banker.

Despite the Debtors' intimate knowledge of their assets, Mr.
Cieri contends that the Debtors do not have the same level of
knowledge of the ever-changing market for those assets and have
found the asset divestiture process to be difficult without the
guidance of an experienced investment bank.  The Debtors also
have had to devote inordinate internal resources to the asset
divestiture process, which is a distraction from the primary
focus of operating the business.

As a result of these difficulties, the Debtors sought Miller
Buckfire's assistance in connection with the sale of the Dighton
Power Plant and the marketing of the Aries Power Plant.  The
Debtors found that Miller Buckfire's services in connection with
those asset sales were essential to the success of their
initiatives.

After witnessing Miller Buckfire's important contributions in
connection with the sales of the Dighton Power Plant and the
marketing of the Aries Power Plant, the Debtors, in consultation
with the Official Committee of Unsecured Creditors, determined
that it is in the best interests of their assets for the Debtors
to expand the scope of Miller Buckfire's services to include the
Additional Services or to retain another experienced investment
bank to perform the Additional Services.

Mr. Cieri tells the Court that the Debtors interviewed a number
of well-respected financial advisors before deciding to expand
Miller Buckfire's scope of work.  Through those interviews, the
Debtors found Miller Buckfire's fee arrangement to be favorable
in comparison to the proposals received by other investment
banks.

In addition, Mr. Cieri states, the Debtors found that unlike
Miller Buckfire, many of the investment banks with experience in
the sale of energy-related assets did not satisfy the requirement
of disinterestedness under the Bankruptcy Code, and thus are
unable to provide the Additional Services.

Mr. Cieri assured the Court that Miller Buckfire is a
"disinterested person" as the term is defined in Section 101(14)
of the Bankruptcy Code and does not hold or represent any interest
adverse to the Debtors' estates.

Headquartered in San Jose, California, Calpine Corporation (OTC
Pink Sheets: CPNLQ) -- http://www.calpine.com/-- supplies
customers and communities with electricity from clean, efficient,
natural gas-fired and geothermal power plants.  Calpine owns,
leases and operates integrated systems of plants in 21 U.S. states
and in three Canadian provinces.  Its customized products and
services include wholesale and retail electricity, gas turbine
components and services, energy management and a wide range of
power plant engineering, construction and maintenance and
operational services.

The Company filed for chapter 11 protection on Dec. 20, 2005
(Bankr. S.D.N.Y. Lead Case No. 05-60200).  Richard M. Cieri, Esq.,
Matthew A. Cantor, Esq., Edward Sassower, Esq., and Robert G.
Burns, Esq., Kirkland & Ellis LLP represent the Debtors in their
restructuring efforts.  Michael S. Stamer, Esq., at Akin Gump
Strauss Hauer & Feld LLP, represents the Official Committee of
Unsecured Creditors.  As of Dec. 19, 2005, the Debtors listed
$26,628,755,663 in total assets and $22,535,577,121 in total
liabilities.  (Calpine Bankruptcy News, Issue No. 27; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000)


CALPINE CORP: Bankruptcy Court Approves TIC Settlement Agreement
----------------------------------------------------------------
The Honorable Burton R. Lifland of the U.S. Bankruptcy Court for
the Southern District of New York authorized Calpine Corp. and its
debtor-affiliates to enter into and consummate the Settlement
Agreement with The Industrial Company Wyoming, Inc.

In the event that the Debtors elect not to enter into the
Settlement Agreement, the Court permits the Debtors to post a
bond or other adequate security, including cash, if TIC places a
lien on the Mankanto property.

As reported in the Troubled Company Reporter on Sept. 21, 2006,
Debtor Calpine Construction Management Company, Inc., was created
to serve as general contractor for the Debtors' energy projects,
including the Mankato Energy Center project.  Mankato Energy
Center, LLC, a non-debtor subsidiary, owns a 750-megawatt
combined cycle gas turbine electrical power plant.

Mankato and CCMCI's contract requires CCMCI to post a bond for
any lien that may be asserted against the Project due to any
alleged default.  The Project is now completed, and is providing
electricity under a long-term "off-take" agreement.

CCMI hired The Industrial Company Wyoming, Inc., a subcontractor,
to assist in building the Mankato property pursuant to a
subcontract dated April 2005.  TIC Wyoming began work in May 2005
and substantially completed its part of the Project in March
2006.

David R. Seligman, Esq., at Kirkland & Ellis LLP, in New York,
relates that since the inception of the Mankato Project, there
have been disagreements between CCMCI and TIC pursuant to their
Subcontract regarding the proper allocation of responsibilities
between the parties.

TIC alleged that CCMCI caused various delays and defaults under
the Subcontract.  Accordingly, TIC filed a proof of claim for
$7,984,777 against the Debtors.  CCMCI also filed claims against
TIC regarding its performance, liquidated damages, and certain
adjustments and credits to the contract price under the
Subcontract.

As Mankato Energy is not a debtor and, therefore does not have
the protection of the automatic stay, the Debtors anticipate that
TIC might attempt to file a mechanics lien with respect to the
Mankato property regarding the parties' disputes under the
Subcontract.  While Mankato Energy and CCMCI certainly would
challenge any lien, litigating the validity of TIC's mechanics
lien and Claim and estate would be costly and uncertain, Mr.
Seligman contends.

Moreover, if TIC successfully asserts a mechanics lien on the
Mankato property, it is possible that the Mankato project lenders
could declare a default under various financing agreements,
thereby raising the risk of foreclosure, Mr. Seligman says.

Consequently, the Debtors have decided to explore the possibility
of a settlement with CCMCI.  The Debtors then engaged in arm's-
length negotiations and the parties ultimately reached an
agreement to resolve their dispute.

The Settlement Agreement provides, among other things, that:

   (a) the Subcontract will be amended to increase the Agreement
       Amount as defined in the Subcontract by $5,077,000 for a
       total Agreement Amount of $14,746,949;

   (b) CCMCI will release $435,000 to TIC; and

   (c) the parties will mutually release all claims in connection
       with the Subcontract, the Agreement Amount Dispute, the
       Performance Dispute or the TIC Claims, including any
       rights to any proof of claim filed by TIC, provided that
       the Released Claims will not include any of Calpine
       Construction's claims against TIC for breach of any
       warranty or default under the Subcontract occurring after
       the date of the Settlement.

To the extent, however, that the Settlement is not consummated
and CCMCI asserts a mechanics lien on the Mankato Project, the
Debtors believe that posting a bond or other adequate security,
including cash, under the Mankato Contract to avoid a default
under the various financing agreements is nonetheless in the
sound exercise of their business judgment.

Mr. Seligman points out that if TIC asserted a lien on the
Mankato property and the Debtors did not post a bond, Mankato
Energy would be in default under its project lending agreements,
which could result in Mankato Energy being unable to draw on the
funds necessary to finish this and other non-debtor projects.

Mr. Seligman asserts that the Debtors have the ability to post a
bond under their DIP financing facility.  Posting a bond would
preserve their rights to litigate CCMCI claims in the absence of
a settlement.

A full-text copy of the TIC Settlement Agreement is available for
free at http://ResearchArchives.com/t/s?12d4

Headquartered in San Jose, California, Calpine Corporation (OTC
Pink Sheets: CPNLQ) -- http://www.calpine.com/-- supplies
customers and communities with electricity from clean, efficient,
natural gas-fired and geothermal power plants.  Calpine owns,
leases and operates integrated systems of plants in 21 U.S. states
and in three Canadian provinces.  Its customized products and
services include wholesale and retail electricity, gas turbine
components and services, energy management and a wide range of
power plant engineering, construction and maintenance and
operational services.

The Company filed for chapter 11 protection on Dec. 20, 2005
(Bankr. S.D.N.Y. Lead Case No. 05-60200).  Richard M. Cieri, Esq.,
Matthew A. Cantor, Esq., Edward Sassower, Esq., and Robert G.
Burns, Esq., Kirkland & Ellis LLP represent the Debtors in their
restructuring efforts.  Michael S. Stamer, Esq., at Akin Gump
Strauss Hauer & Feld LLP, represents the Official Committee of
Unsecured Creditors.  As of Dec. 19, 2005, the Debtors listed
$26,628,755,663 in total assets and $22,535,577,121 in total
liabilities.  (Calpine Bankruptcy News, Issue No. 27; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000)


CALPINE CORP: Court OKs Watson Wyatt as Human Resource Consultant
-----------------------------------------------------------------
Calpine Corp. and its debtor-affiliates obtained authority from
the U.S. Bankruptcy Court for the Southern District of New York to
employ Watson Wyatt as their human resource consultant pursuant to
Sections 327(a) and 328(a) of the Bankruptcy Code.

As reported in the Troubled Company Reporter on Aug. 15, 2006, the
Debtors engaged Watson Wyatt & Company as their human resource
consultant since Dec. 6, 2005.  Watson Wyatt was employed as an
ordinary course professional.  Watson Wyatt has assisted the
Debtors in the review, design and communication of important
employee messages and human resources risks.

The Debtors originally contemplated that Watson Wyatt would
primarily provide executive compensation services for which the
total fees were estimated to range from $175,000 through
$275,000.

David R. Seligman, Esq., at Kirkland & Ellis LLP, in New York,
relates that beginning March 2006, at the Debtors' request,
Watson Wyatt provided additional compensation assistance and
established benchmarks for all positions in Calpine Corp.  These
requests, as well as other matters concerning the executive
compensation portions of the project, caused Watson Wyatt's fees
to go beyond the $500,000 limit set in the Court's Ordinary
Course Professional Order.

Moreover, Mr. Seligman said, the Debtors anticipated that they
will continue to use Watson Wyatt's services throughout the
course of their Chapter 11 cases.

Watson Wyatt is expected to:

    (a) review and analyze the current compensation and benefits
        programs at Calpine and identify the risks each program
        may contain in light of the Chapter 11 cases;

    (b) assist in the development of an employee communication
        strategy and drafting of employee communications as
        needed;

    (c) review the current compensation and benefits programs and
        assess the need for new or revised programs for certain
        key employees designated by the company and, if needed,
        assist in the design and modification of the programs.
        Key elements of those programs might consist of a new
        annual incentive program, a revised cash retention
        program, and a severance program;

    (d) compare the terms, conditions and cost of any proposed
        program to competitive practice;

    (e) review and determine whether to enhance existing severance
        programs in light of the changed circumstances;

    (f) prepare reports summarizing the new programs;

    (g) assist in negotiations with creditors' groups to obtain
        their support for the company's assumption of any bonus or
        other compensation program;

    (h) provide expert witness testimony with respect to the
        company's compensation programs;

    (i) provide compensation benchmarking data and advice as
        needed; and

    (j) develop and implement other compensation or compensation
        administration programs as needed.

The Debtors will pay Watson Wyatt based on its customary hourly
rates:

          Professional                     Hourly Rate
          ------------                     -----------
          Analysts                         $200 to $350
          Consultants                      $375 to $500
          Senior Consultants               $550 to $700

The Debtors will also reimburse Watson Wyatt for any necessary
out-of-pocket expenses incurred.

Mr. Seligman informed the Court that Watson Wyatt has received a
$75,000 retainer on Dec. 12, 2005.  The Debtors have also paid
$300,000 to Watson Wyatt for its services since Dec. 6, 2005.

Ann Costolloe, a senior consultant at Watson Wyatt & Company, in
San Francisco, California, assured the Court that her firm does
not hold any interest adverse to the Debtors and their estates,
and is a "disinterested person" as defined in Section 101(14) of
the Bankruptcy Code.

                         Judge's Decree

Judge Lifland rules that Watson Wyatt & Company's fees and
expenses will remain subject to the "ordinary course
professional" monthly cap of $50,000, provided that the setting
of the cap does not constitute a judicial determination that the
fees or expenses are reasonable under the Bankruptcy Code.

Headquartered in San Jose, California, Calpine Corporation (OTC
Pink Sheets: CPNLQ) -- http://www.calpine.com/-- supplies
customers and communities with electricity from clean, efficient,
natural gas-fired and geothermal power plants.  Calpine owns,
leases and operates integrated systems of plants in 21 U.S. states
and in three Canadian provinces.  Its customized products and
services include wholesale and retail electricity, gas turbine
components and services, energy management and a wide range of
power plant engineering, construction and maintenance and
operational services.

The Company filed for chapter 11 protection on Dec. 20, 2005
(Bankr. S.D.N.Y. Lead Case No. 05-60200).  Richard M. Cieri, Esq.,
Matthew A. Cantor, Esq., Edward Sassower, Esq., and Robert G.
Burns, Esq., Kirkland & Ellis LLP represent the Debtors in their
restructuring efforts.  Michael S. Stamer, Esq., at Akin Gump
Strauss Hauer & Feld LLP, represents the Official Committee of
Unsecured Creditors.  As of Dec. 19, 2005, the Debtors listed
$26,628,755,663 in total assets and $22,535,577,121 in total
liabilities.  (Calpine Bankruptcy News, Issue No. 27; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000)


CANWEST MEDIAWORKS: Selling Two Radio Stations for $15 Million
--------------------------------------------------------------
CanWest MediaWorks Inc has entered into an agreement with Corus
Entertainment Inc. for the sale of its two existing radio stations
in Canada -- 99.1 Cool FM in Winnipeg, Manitoba and 91.5 The Beat
FM in Kitchener, Ontario -- for an aggregate cash price of
approximately $15 million, subject to certain customary price
adjustments based upon the stations' financial position at the
completion date.  Completion of the transaction is conditional
upon the purchaser obtaining CRTC and any other necessary
regulatory approvals.

Peter Viner, President and Chief Executive Officer of the
Company's Canadian operations, noted, "Despite considerable
efforts, the Company has not established, either through the award
of additional radio licences by the CRTC or by acquisition, a
sufficient presence in the Canadian radio market to achieve the
economies of scale necessary for success in this highly
competitive business.  In light of that, the Company determined
that its capital would be better deployed in higher growth
opportunities and in supporting its core business requirements."

CanWest MediaWorks Inc. -- http://www.canwestmediaworks.com/-- is
a wholly owned subsidiary of CanWest Global Communications Corp,
Canada's largest media company.  In addition to owning the Global
Television Network, CanWest is Canada's largest publisher of daily
newspapers, and also owns, operates and/or holds substantial
interests in conventional television, out-of-home advertising,
specialty cable channels, Web sites and radio networks in Canada,
New Zealand, Australia, Singapore, Indonesia, Malaysia, Turkey,
the United States and the United Kingdom.

                          *     *     *

As reported in the Troubled Company Reporter on July 13, 2006,
Dominion Bond Rating Service placed the ratings of CanWest
MediaWorks Inc. under review with negative implications due to
weakness in more of the Company's operating segments, which may
lead to a breach in the Company's financial covenants under its
senior secured bank facilities in the upcoming quarter and year-
end.  Ratings places under review include the Negative BB Issuer
Rating and the Negative B (high) rating on the Company's Senior
Subordinated Notes.

As reported in the Troubled Company Reporter on July 11, 2006,
Moody's Investors Service placed Canwest MediaWorks Inc.'s Ba3
corporate family and B2 senior subordinate ratings under review
for possible downgrade.  At the same time, Moody's lowered
CanWest's speculative grade liquidity rating to SGL-3 from SGL-2.


CAROL CAPOCCIA: Case Summary & 7 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Carol Capoccia, LLC
        56 Bentwood Court East
        Albany, NY 12203

Bankruptcy Case No.: 06-12567

Chapter 11 Petition Date: October 2, 2006

Court: Northern District of New York (Albany)

Judge: Robert E. Littlefield Jr.

Debtor's Counsel: Richard Croak, Esq.
                  314 Great Oaks Blvd.
                  Albany, NY 12203
                  Tel: (518) 690-4410

Estimated Assets: $1 Million to $10 Million

Estimated Debts:  $1 Million to $10 Million

Debtor's 7 Largest Unsecured Creditors:

   Entity                              Claim Amount
   ------                              ------------
Sanford Rosenbloum                         $100,000
100 Great Oaks Blvd.
Albany, NY 12203

Eugene Bizzarro                             $60,000
1411 Kings Rd.
Schenectady, NY 12303

William Mueb & Assoc.                       $50,000

Steven Kessler                              $50,000

Elizabeth DeChiro                           $40,000
2329 Third Ave.
Watervliet, NY 12189

Mary Beth & Emloi D'Alessandro              $25,000
909 13th. St.
Watervliet, NY 12189

Deana & Michael Karam                       $20,000
12 Glenburnie Dr.
Wilton, NY 12831


CEP HOLDINGS: U.S. Trustee Names Five-Member Creditors Committee
----------------------------------------------------------------
The U.S. Trustee for Region 9 appointed five creditors to serve on
an Official Committee of Unsecured Creditors in CEP Holdings, LLC,
and its debtor-affiliates chapter 11 cases:

    1. Dupont
       c/o Bruce D. Tobiansky
       Barley Mill Plaza, BMP26-2174
       4417 Lancaster Pike
       Wilmington, DE 19805
       Tel: (302) 992-4589
       Fax: (302) 892-0767

    2. Lanxess Corp.
       c/o Alan P. Rugh
       111 RIDC Park West Drive
       Pittsburgh, PA 15275-1112
       Tel: (412) 809-1576
       Fax: (412) 809-1561

    3. Excel Polymers LLC
       c/o Kathy McDonald
       6521 Davis Industrial Parkway
       Solon, OH 44139
       Tel: (440) 715-7121
       Fax: (440) 715-7040

    4. The Brown Corporation of Greenville
       c/o Mark Ferderber
       1927 North Theobald Street
       Greenville, MS 38703
       Tel: (616) 527-4050
       Fax: (616) 527-3385

    5. Rhodia
       c/o Doreen Wilson-Bailey
       8 Cedar Brook Drive
       Cranbury, NJ 08512
       Tel: (609) 860-3185
       Fax: (609) 860-2244

Documents filed with the Court do not show who the Committee has
selected as counsel in this chapter 11 proceeding.

Official creditors' committees have the right to employ legal and
accounting professionals and financial advisors, at the Debtors'
expense.  They may investigate the Debtors' business and financial
affairs.  Importantly, official committees serve as fiduciaries to
the general population of creditors they represent.  Those
committees will also attempt to negotiate the terms of a
consensual chapter 11 plan -- almost always subject to the terms
of strict confidentiality agreements with the Debtors and other
core parties-in-interest.  If negotiations break down, the
Committee may ask the Bankruptcy Court to replace management with
an independent trustee.  If the Committee concludes reorganization
of the Debtors is impossible, the Committee will urge the
Bankruptcy Court to convert the chapter 11 cases to a liquidation
proceeding.

Based in Akron, Ohio, CEP Holdings, LLC, manufactured hard, molded
rubber products and extruded plastic materials for companies in
the automotive, construction, and the medical industries.  The
Company and two of its subsidiaries filed for chapter 11
protection on Sept. 20, 2006 (Bankr. N.D. Ohio Case No. 06-61796).
Joseph F. Hutchinson, Jr., Esq., at Baker & Hostetler, LLP,
represents the Debtor.  When the Debtors filed for protection from
their creditors, they estimated assets and debts between $10
million and $50 million.  The Debtors' exclusive period to file a
chapter 11 plan expires on Jan. 18, 2007.


CEP HOLDINGS: Trade Vendors Want Cases Converted to Chapter 7
-------------------------------------------------------------
The Unofficial Committee of Pre-Petition Trade Vendors asks the
U.S. Bankruptcy Court for the Northern District of Ohio to convert
CEP Holdings, LLC and its debtor-affiliates' chapter 11 cases to
chapter 7 liquidation proceedings.

The Trade Committee seeks immediate conversion of the cases
citing:

    (i) the Debtors operate to benefit only their customers,
        namely General Motors Corporation, Visteon Corporation and
        Delphi Corporation by a costly scheme intended to maximize
        the inventory build for these customers regardless of the
        impact upon other parties-in-interest; and

   (ii) the losses resulting from the Debtors' express plan to
        augment their customers' inventory, which plan is
        evidenced in the Debtors' first day pleadings, coupled
        with the Debtors' express intent not to attempt a
        rehabilitation of the Debtors' operations.

The Trade Committee discloses that through information obtained in
its investigation of the Debtors and their operation and the
Debtors' first day pleadings, it has ascertained that:

    (a) the Debtors failed to operate profitably or at "break-
        even" in any month since the acquisition of the Debtors'
        facilities by The Reserve Group in August 2005 and
        December 2005, respectively;

    (b) the Debtors have already obtained concessions from their
        customers in the form of "immediate pay" of accounts
        receivable due from these companies, resulting in a
        significant paydown of obligations to Wachovia capital
        Finance Corp. - yet the Debtors still had and continue to
        have insufficient liquidity to operate in the ordinary
        course of business in the absence of incurring additional
        secured debt;

    (c) as a result of the Debtors' "cash burn" and the inability
        to generate sufficient cash flow to permit operations in
        the ordinary course, their customers were required to fund
        approximately $2.9 million in pre-bankruptcy loans on a
        junior participating basis in the Wachovia revolving
        credit facilities to provide the Debtors sufficient
        availability to sustain even the most basic operations;

    (d) based upon the Trade Committee's analysis of documentation
        provided to it by the Debtors and other independent
        sources, the Trade Committee forecasts that the Debtors
        will lose no less than $1 million on a monthly basis from
        operations through the foreseeable future;

    (e) the operating losses of the Debtors in chapter 11 will
        continue to be funded either through cash infusions or
        junior secured and superiority loans from their customers,
        or some combination of the two, if so permitted by the
        Court, with all such loans resulting in immediate and
        substantial harm to the interests of general unsecured
        creditors;

    (f) the Proposed Interim DIP Order is a mechanism for which
        the Customers can cause the Debtors to build their
        customers' inventory, regardless of the impact on the
        Debtors' estates and then effectuate the closings of the
        Debtors' facilities if the customers have no further use
        for those facilities;

    (g) the Proposed Interim DIP Order provides their customers,
        non-fiduciaries to these bankruptcy estates, with the sole
        discretion to elect which of the Debtors' facilities will
        be promptly liquidated and which will be sold on any
        orderly basis;

    (h) throughout the Proposed Interim DIP Order, in many
        instances the unsecured creditors will bear the brunt of
        the costs associated with the build of parts banks at
        various facilities for the benefit of the Debtors'
        customers as a result of further post-petition
        participation in the Wachovia facilities;

    (i) the Proposed Interim DIP Order proposes to have a Chapter
        11 Trustee appointed in the event the Debtors fail to
        maintain production for bank builds requested by their
        customers; and

    (j) the Proposed Interim DIP Order provides that in the
        Debtors customers' pursuit to augment their inventory at
        the cost of the bankruptcy estates, their professional
        fees, amounting to $450,000, will be paid from estate
        proceeds.

Mark E. Freedlander, Esq., Sally E. Edison, Esq., and Michael J.
Roeschenthaler, Esq., at McGuireWoods LLP, represent the Trade
Committee.

Based in Akron, Ohio, CEP Holdings, LLC, manufactured hard, molded
rubber products and extruded plastic materials for companies in
the automotive, construction, and the medical industries.  The
Company and two of its subsidiaries filed for chapter 11
protection on Sept. 20, 2006 (Bankr. N.D. Ohio Case No. 06-61796).
Joseph F. Hutchinson, Jr., Esq., at Baker & Hostetler, LLP,
represents the Debtor.  When the Debtors filed for protection from
their creditors, they estimated assets and debts between $10
million and $50 million.  The Debtors' exclusive period to file a
chapter 11 plan expires on Jan. 18, 2007.


CHEMDESIGN CORP: Court OKs Continued Use of SPC's Cash Collateral
-----------------------------------------------------------------
ChemDesign Corporation obtained authority from the U.S. Bankruptcy
Court for the Eastern District of Wisconsin to continue using the
cash collateral funds provided by SpecialtyChem Products
Corporation, its wholly owned subsidiary.

The Debtor tells the Court it has not generated cash proceeds
since it is winding down operations.  To protect its assets while
the wind down continues, it needs access to the cash collateral of
SPC.

SPC filed for chapter 11 protection on June 12, 2006.  The Debtor
commenced its separate chapter 11 case on Aug. 27, 2006.  Both
Debtors continue to manage and operate their businesses as
debtors-in-possession.

The Debtor is in the process of selling its field plant in
Fitchburg, Massachusetts.  A handful of individuals are still
employed at Fitchburg as part of the winding down.  The Fitchburg
property consists of a parcel of property of approximately
27.9 acres with nine major buildings and multiple smaller
buildings.  The Machinery and equipment at the Fitchburg facility
was recently appraised at a fair market value of $2.4 million and
is still well maintained.

The Debtor and SPC share liability on approximately $3 million
revolving note and two term notes totaling approximately
$2.5 million with Wachovia Bank, National Association.  The
obligations to Wachovia are cross-collateralized by the assets of
both Debtors.

Cambridge Chemicals, Inc., also has a blanket lien on all of the
assets of the Debtor to secure its obligations.  The Cambridge
lien is junior to the security interests of Wachovia.

SPC's cash proceeds, generated from receivables, and all other
cash equivalents held by the Debtors are cash collateral that also
secures the Wachovia debt.  SPC has obtained from the Court
authority to use the cash collateral and provides funds to the
Debtor from the cash collateral.

Headquartered in Fitchburg, Massachusetts, ChemDesign Corporation
-- http://www.chemdesigncorp.com/-- is a custom manufacturer of
various fine organic chemicals for paper products, electronics,
agricultural products and other materials.  The Debtor filed for
chapter 11 protection on Aug. 27, 2006 (Bankr. E.D. Wis. Case No.
06-24729.  When the Debtor filed for protection from its
creditors, it estimated assets and debts between $10 million and
$50 million.


COLLINS & AIKMAN: Taps Hilco to Appraise Williamston Equipment
--------------------------------------------------------------
Collins & Aikman Corporation and its debtor-affiliates notify the
U.S. Bankruptcy Court for the Eastern District of Michigan and
parties-in-interest that they have further expanded Hilco
Appraisal Services, LLC's scope of services.

The Court has previously approved the Debtors' request to retain
Hilco as their personal property appraiser.

At the Debtors' request, Hilco will physically appraise the
machinery and equipment of Collins & Aikman Corporation, at 845
Progress Court and 1560 Noble Road, in Williamston, Michigan.

Hilco will provide the Debtors with a detailed Orderly
Liquidation Value and Forced Liquidation Value appraisal for the
assets.

Headquartered in Troy, Michigan, Collins & Aikman Corporation
-- http://www.collinsaikman.com/-- is a global leader in cockpit
modules and automotive floor and acoustic systems and is a leading
supplier of instrument panels, automotive fabric, plastic-based
trim, and convertible top systems.  The Company has a workforce of
approximately 23,000 and a network of more than 100 technical
centers, sales offices and manufacturing sites in 17 countries
throughout the world.  The Company and its debtor-affiliates filed
for chapter 11 protection on May 17, 2005 (Bankr. E.D. Mich. Case
No. 05-55927).  Richard M. Cieri, Esq., at Kirkland & Ellis LLP,
represents C&A in its restructuring.  Lazard Freres & Co., LLC,
provides the Debtor with investment banking services.  Michael S.
Stammer, Esq., at Akin Gump Strauss Hauer & Feld LLP, represents
the Official Committee of Unsecured Creditors Committee.  When the
Debtors filed for protection from their creditors, they listed
$3,196,700,000 in total assets and $2,856,600,000 in total debts.
(Collins & Aikman Bankruptcy News, Issue No. 42; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000)


COLLINS & AIKMAN: Inks Pact Regarding GM's Lift-Stay Request
------------------------------------------------------------
General Motors Corporation, Collins & Aikman Corporation and its
debtor-affiliates have agreed to certain discovery procedures in
connection with GM's amended request to recover certain tooling.
The Honorable Steven W. Rhodes of the U.S. Bankruptcy Court for
the Eastern District of Michigan has approved these discovery
procedures.

GM is seeking to lift the automatic stay to take possession of
certain tooling in which it asserts an ownership interest.  The
Official Committee of Unsecured Creditors appointed in the
Debtors' cases has filed an objection to that request and the
Debtors have sought to take discovery of GM.

                        Parties Stipulate

In a Court-approved stipulation, the Debtors and General Motors
Corporation agree that the automatic stay will continue in full
forced and effect through the earlier of:

   (1) the conclusion of an October 12, 2006, hearing on GM's
       amended tooling request and the Court's entry of a final
       order regarding that request; and

   (2) any emergency hearing on the Amended GM Request and the
       Court's entry of a final order regarding that request.

Headquartered in Troy, Michigan, Collins & Aikman Corporation
-- http://www.collinsaikman.com/-- is a global leader in cockpit
modules and automotive floor and acoustic systems and is a leading
supplier of instrument panels, automotive fabric, plastic-based
trim, and convertible top systems.  The Company has a workforce of
approximately 23,000 and a network of more than 100 technical
centers, sales offices and manufacturing sites in 17 countries
throughout the world.  The Company and its debtor-affiliates filed
for chapter 11 protection on May 17, 2005 (Bankr. E.D. Mich. Case
No. 05-55927).  Richard M. Cieri, Esq., at Kirkland & Ellis LLP,
represents C&A in its restructuring.  Lazard Freres & Co., LLC,
provides the Debtor with investment banking services.  Michael S.
Stammer, Esq., at Akin Gump Strauss Hauer & Feld LLP, represents
the Official Committee of Unsecured Creditors Committee.  When the
Debtors filed for protection from their creditors, they listed
$3,196,700,000 in total assets and $2,856,600,000 in total debts.
(Collins & Aikman Bankruptcy News, Issue No. 42; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000)


COMPLETE RETREATS: Intagio Withdraws Credit Reservations Motion
---------------------------------------------------------------
Intagio Corp. withdrew its request asking the U.S. Bankruptcy
Court for the District of Connecticut to:

   (a) direct Complete Retreats LLC and its debtor-affiliates to
       honor all THR Credit Reservations made, or to be made,
       under the 2005 Contract and any of the Prior Contracts;
       and

   (b) exempt the THR Credit Reservations, if necessary, from
       the provisions of the Reservations Order to the extent
       any of them apply to the THR Credit Reservations.

Intagio's withdrawal relates to the Court's order, reported in the
Troubled Company Reporter on Sept. 11, 2006, vacating its previous
order denying Intagio's request, the previous order having been
entered in error.

The Court denied Intagio's request, holding that Intagio failed to
comply with the contested matter procedure guidelines effective
Oct. 3, 2005.

In October 2005, Debtor Preferred Retreats LLC dba Tanner & Haley
Destination Clubs, and Intagio entered into a Media Purchase
Agreement, whereby Intagio agreed to place an advertising
campaign on behalf of Preferred Retreats.

In return, Preferred Retreats agreed to provide Intagio:

   -- a $647,045 cash payment for advertising; and

   -- credits, totaling $327,975, redeemable for occupancy
      rights at all THR Private Retreats, THR Distinctive
      Retreats, THR Distinctive Retreats II and THR Legendary
      Retreats properties.

Intagio and Preferred Retreats were also parties to prior
agreements of a similar nature, Louis J. Testa, Esq., at
Neubert, Pepe & Monteith, P.C., in New Haven, Connecticut, said.

Prior to the Debtors' bankruptcy filing, Intagio booked certain
reservations on behalf of its clients and resold some of the THR
Credits to third parties under the 2005 Contract and the Prior
Contracts, Mr. Testa disclosed.

As of July 23, 2006, these THR Credit Reservations were
outstanding:

   (1) Reservations already booked through Intagio's travel
       department, on behalf of Intagio's clients;

   (2) THR Credits resold by Intagio to third parties for which
       reservations have been, or may be made, by the parties;
       and

   (3) THR Credits owned by Intagio but not yet sold to third
       parties or redeemed for Client Reservations.

On July 27, 2006, the Court authorized the Debtors to honor
existing reservations, accept new reservations and provide
services to members under certain terms and conditions.

Subsequent to July 23, 2006, Intagio received formal
notification from the Debtors that they will not honor the THR
Credit Reservations.

Mr. Testa noted that Intagio is particularly concerned with a
client reservation made by Michael Cunningham in February 2006
for the Debtors' location at Palm Beach County, in Florida, for
occupancy commencing on Aug. 16, 2006, and ending on
Aug. 21, 2006.

The remaining Client Reservations will commence on Oct. 2,
Oct. 19 and Dec. 8, 2006, Mr. Testa added.

If the Debtors fail to honor the Client Reservations and the
Third Party Reservations, Intagio will be required and compelled
to reimburse at least US$456,282 to the reservation holders in
cash or business credits, Mr. Testa informed the Judge Shiff.

It is unlikely that Intagio will recover the amount of the
Reservation Obligations in the bankruptcy cases, Mr. Testa said.
Unlike Intagio, however, the Debtors will not suffer significant
hardship or irreparable injury by being compelled to honor the
THR Credit Reservations pending confirmation of a plan of
reorganization, Mr. Testa continued.

According to Mr. Testa, a review of the Reservations Motion and
Reservations Order appears to indicate that the relief requested
is limited to reservations made by members only, and not third
party creditors like Intagio.  Nor does the order appear to
apply to the holders of Client Reservations and Third Party
Reservations.

The Reservations Order allows the Debtors to provide
preferential treatment for a group of unsecured creditors,
namely members, to the detriment of other unsecured creditors,
like Intagio, and differentiate their treatment with respect to
honoring of reservations, Mr. Testa asserted.

Moreover, Intagio was not placed upon prior notice of the
Reservations Motion in order to protect its interests with
respect to the THR Credit Reservations.

"[Thus,] the balance of the equities weighs in favor of
Intagio," Mr. Testa maintained.

Mr. Cunningham will need to be informed as soon as practically
possible prior to Aug. 16, 2006, of the need to make alternate
vacation plans, if necessary, Mr. Testa told the Court.  In
addition, the holders of the remaining Client Reservations will
need as much time as possible to make alternative plans, if
necessary.

Headquartered in Westport, Connecticut, Complete Retreats LLC
operates five-star hospitality and real estate management
businesses.  In addition to its mainline destination club
business, the Debtor also operates an air travel program for
destination club members, a villa business, luxury car rental
services, wine sales services, fine art sales program, and other
amenity programs for members.  Complete Retreats and its debtor-
affiliates filed for chapter 11 protection on July 23, 2006
(Bankr. D. Conn. Case No. 06-50245).  Nicholas H. Mancuso, Esq.
and Jeffrey K. Daman, Esq. at Dechert LLP represent the Debtors in
their restructuring efforts.  Michael J. Reilly, Esq., at Bingham
McCutchen LP, in Hartford, Connecticut, serves as counsel to the
Official Committee of Unsecured Creditors.  No estimated assets
have been listed in the Debtors' schedules, however, the Debtors
disclosed $308,000,000 in total debts.  (Complete Retreats
Bankruptcy News, Issue No. 8; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


COMPLETE RETREATS: Court OKs D.G. Capital's Rule 2004 Exam Request
------------------------------------------------------------------
At D.G. Capital LLC's behest, the U.S. Bankruptcy Court for the
District of Connecticut directed Robert L. McGrath, former
president of Debtor Distinctive Retreats, and James H. Mitchell,
vice president of Distinctive, to appear for an examination
regarding certain matters, within the scope of Rule 2004 of the
Federal Rules of Bankruptcy Procedure, including:

   (1) the capital structure of Distinctive;
   (2) the number of series within the LLC structure;
   (3) the membership interests in each series;
   (4) the assets and liabilities of each series; and
   (5) the circumstances and details of the adoption of a
       resolution to file the case by its governing board.

As reported in the Troubled Company Reporter on Sept. 14, 2006,
Distinctive borrowed $2,850,000 from D.G. Capital in May 2006, to
finance the purchase of a condominium in Maui.  The loan was
secured by a first mortgage on the condominium and by a pledge of
membership interests in Distinctive Retreats.

Michael R. Enright, Esq., at Robinson & Cole LLP, in Hartford,
Connecticut, told the Court that the loan has matured and remains
unpaid while interest and other charges continue to accrue.

Distinctive is a Delaware limited liability company and its
Certificate of Formation and Limited Liability Company Agreement
contain:

   (i) special limitations as a series LLC under Delaware law,
       including provisions pursuant to Section 18-215 of the
       Delaware Limited Liability Company Act; and

  (ii) special purpose entity restrictions which require written
       unanimity among directors and the Class A Member
       regarding filing authority.

In connection with the joint administration of Complete Retreats
LLC and its debtor-affiliates' Chapter 11 cases, relief accorded
to the Debtors may unjustifiably favor the creditors or equity
holders of one or more Debtors over other Debtors if the
applicable distinctions among the creditor bodies are not
observed, Mr. Enright asserted.  "This concern may be exacerbated
within Distinctive [Retreats] because of its status as a series
LLC pursuant to the Delaware Limited Liability Company Act.
Distinctive itself may need to be viewed and treated as a number
of discrete Debtors, given the nature of a series LLC."

In essence, Delaware law permits each series of the LLC to be a
unit unto itself, with assets and liabilities of each series
considered separately for purposes of creditors' rights, Mr.
Enright pointed out.

According to Mr. Enright, the rights of Distinctive Retreats'
creditors may vary depending on:

   -- whether the formalities required by the Delaware statute
      were satisfied prepetition; and

   -- how Distinctive designated the assets and liabilities
      which were to be included in each series.

"Nothing in the filings made by Distinctive to date sheds any
light on these details, [the] consideration of [which] is
essential to an understanding of the rights of [Distinctive's
creditors]," Mr. Enright argued.

Accordingly, a full exploration through the Rule 2004 process of
the capital structure of Distinctive Retreats, its multiple
series and the assets and liabilities of each series, to
consider, among other things, the implications of this structure
in Distinctive Retreats' Chapter 11 case, is necessary, Mr.
Enright contended.

The only filing as of Aug. 29, 2006, in this regard was appended
to the petition of Distinctive and is a certificate from Mr.
McGrath certifying that the form of resolution attached to the
certificate was adopted by the boards of each of the related
entities prior to filing of their petitions, Mr. Enright noted.

Mr. Enright argued that Mr. McGrath's certification is
insufficient to evidence Distinctive' authority to file and does
not address whether the special purpose entity provisions in
Distinctive Retreats' governance documents were satisfied.

To evidence authority to file, a copy of the written unanimous
consent of the Class A Member and the Board of Managers is
required because that is the prerequisite to filing established
by the governance documents, Mr. Enright maintained.

If the Court grants its request, D.G Capital will seek Mr.
McGrath's and Mr. Mitchell's attendance and production of
relevant documents by subpoena.

D.G. Capital proposed to hold the examinations at the offices of
Robinson & Cole, LLP, at 280 Trumbull Street, in Hartford,
Connecticut on Sept. 22, 2006.

Headquartered in Westport, Connecticut, Complete Retreats LLC
operates five-star hospitality and real estate management
businesses.  In addition to its mainline destination club
business, the Debtor also operates an air travel program for
destination club members, a villa business, luxury car rental
services, wine sales services, fine art sales program, and other
amenity programs for members.  Complete Retreats and its debtor-
affiliates filed for chapter 11 protection on July 23, 2006
(Bankr. D. Conn. Case No. 06-50245).  Nicholas H. Mancuso, Esq.
and Jeffrey K. Daman, Esq. at Dechert LLP represent the Debtors in
their restructuring efforts.  Michael J. Reilly, Esq., at Bingham
McCutchen LP, in Hartford, Connecticut, serves as counsel to the
Official Committee of Unsecured Creditors.  No estimated assets
have been listed in the Debtors' schedules, however, the Debtors
disclosed $308,000,000 in total debts.  (Complete Retreats
Bankruptcy News, Issue No. 8; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


CONTINENTAL MIDWEST: Files for Chapter 11 Protection in Ohio
------------------------------------------------------------
Continental Midwest Financial and its affiliate, Scioto National,
Inc., filed for chapter 11 protection on Sept. 18, 2006, in the
U.S. Bankruptcy Court for the Southern District of Ohio.

The companies, along with Bankstock Investment Partners and
Bancshareholders of America, Inc., are controlled by Ohio investor
Bradley T. Smith.

The bankruptcy petitions were filed after the U.S. Securities and
Exchange Commission imposed its order on April 19, 2006,
instituting administrative proceedings against Mr. Smith.

The SEC order was based on a final judgment given by the Honorable
Gregory L. Frost of the U.S. District Court for the Southern
District of Ohio on Dec. 6, 2005, imposing monetary and injunctive
relief against Mr. Smith for raising approximately $2.1 million in
fraudulent securities offerings for Continental Midwest and Scioto
National.

Judge Frost permanently enjoined Mr. Smith from future violations
of Section 17(a) of the Securities Act of 1933 and Section 10(b)
of the Securities Exchange Act of 1934, and held Mr. Smith jointly
and severally liable with Continental for $1,409,149, and with
Scioto for $885,048, both in disgorgement and pre-judgment
interest.  Judge Frost also ordered Smith to pay a civil penalty
in the amount of $120,000.

The final judgment followed the Court's Sept. 27, 2005, order
granting summary judgment in favor of the SEC and against Mr.
Smith on the fraud claims, and also on the SEC's claims that Mr.
Smith was liable for violations of the Exchange Act by Continental
and Scioto as a control person under Section 20(a) of the Exchange
Act.

The SEC's complaint alleged that between 2002 and the present,
Mr. Smith and his affiliated companies, through the private offer
and sale of securities, raised approximately $3.3 million from
investors in Ohio and six other states.  In each of those
offerings, Mr. Smith and the respective entity represented that
the funds raised would be used primarily for investments in small
banks.  Instead, the SEC alleged, Mr. Smith diverted a significant
amount of the proceeds to his own use and to keep his other
companies afloat.  According to the complaint, Mr. Smith misused
approximately $1.5 million in investor funds, using the money to
pay expenditures such as rent, unrelated business expenses,
clothing, skin care products, and a dating service.

The case is captioned "the U.S. Securities and Exchange Commission
vs. Bradley T. Smith, et al., Civil Action No. C2-04-0739 (S.D.
Ohio)."

Scioto National, Continental Midwest, and Bancshare Investors
Brokerage also filed for chapter 11 protection on Jan. 10, 2006
(Bankr. S.D. Ohio Case Nos. 06-50075 through 06-50077).

                    About Continental Midwest

Based in Dublin, Ohio, Continental Midwest Financial offers
financial and investment services.  The company filed for
chapter 11 protection on Sept. 18, 2006 (Bankr. S.D. Ohio Case
No. 06-55178).  Michael T. Gunner, Esq., represents the Debtor.
When the Debtor filed for protection from its creditors, it listed
total assets of $652,176, and total debts of $1,633,543.

Headquartered in Dublin, Ohio, Scioto National Inc. offers
financial services to investors.  The company filed for chapter 11
protection on Sept. 18, 2006 (Bankr. S.D. Ohio Case No. 06-55170).
Michael T. Gunner, Esq. represents the Debtor.  When the Debtor
filed for protection from its creditors, it listed total assets of
$566,187, and total debts of $1,085,322.


CONTINENTAL MIDWEST: Case Summary & 18 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Continental Midwest Financial
        6457 Reflections Drive, Suite 200
        Dublin, OH 43017

Bankruptcy Case No.: 06-55178

Debtor-affiliate filing separate chapter 11 petition:

        Entity                         Case No.
        ------                         --------
        Scioto National, Inc.          06-55170

Type of Business: The Debtors, together with Bancshare Investors
                  Brokerage, also filed for chapter 11 protection
                  on Jan. 10, 2006 (Bankr. S.D. Ohio Case Nos. 06-
                  50075 through 06-50077).

Chapter 11 Petition Date: September 18, 2006

Court: Southern District of Ohio (Columbus)

Judge: John E. Hoffman

Debtor's Counsel: Michael T. Gunner, Esq.
                  3535 Fishinger Boulevard, Suite 220
                  Hilliard, OH 43026
                  Tel: (614) 777-1203
                  Fax: (614) 777-4640

                              Total Assets   Total Debts
                              ------------   -----------
      Continental Midwest         $652,176    $1,633,543
      Financial

      Scioto National             $566,187    $1,085,322
      Incorporated

A. Continental Midwest Financial's 12 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
U.S. Securities                    In re: Case         $1,409,149
and Exchange Commission            #04CV00739 U.S.
175 West Jackson Boulevard         S.E.C. vs. Bradley
Suite 900                          Smith, et. al.,
Chicago, IL 60604                  S.D. Ohio

Humphrey Cowden                    Attorney Fees         $147,410
Nagorney & Lovett
Terminal Tower, Suite 1414
50 Public Square
Cleveland, OH 44113

Harry Reinhart                     Attorney Fees          $32,486
400 South Fifth Street, Suite 202
Columbus, OH 43215

Yolanda Circosta                   Loan Money - Payroll   $20,000
619 Rothmoore Drive
Galloway, OH 43119

Paychex                            Advanced Payroll       $12,170
911 Panorama Trail South
Rochester, NY 14625

U.S. Treasurer                     Payroll Taxes           $7,304

Rogers and Co.                     Accounting Expense      $2,270

DHL Express                        Postal Service          $1,500

Conexio                            Computer Services         $742

Cleaned to Your Expectations       Cleaning Expense          $342

Magnetic Springs                   Water Services            $122

Qwest                              Telephone Expense          $47

B. Scioto National, Inc.'s 12 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
U.S. Securities                    In re: Case           $885,048
and Exchange Commission            #04CV00739 U.S.
175 West Jackson Boulevard         S.E.C. vs. Bradley
Suite 900                          Smith, et. al.,
Chicago, IL 60604                  S.D. Ohio

Cowden Humphrey, Nagorney,         Attorney Fees         $145,398
Lovett
Terminal Tower, Suite 1414
50 Public Square
Cleveland, OH 44113

Harry Reinhart                     Attorney Fees          $45,986
400 South Fifth Street
Suite 202
Columbus, OH 43215

James D. Pohlman                   Director Fees           $5,000
11330 Bloomlock Road
Delphos, OH 45833

Richard Napierala                  Director Fees           $3,750
2239 U.S. Route 20
Swanton, OH 43558

Rogers and Co.                     Accounting Expense        $140
6827 North High Street
Suite 234
Columbus, OH 43085


COPELANDS' ENT: Court Okays Clear Thinking as Business Advisor
--------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
Copelands' Enterprises, Inc., to employ Clear Thinking Group, LLC,
as its business advisor.

As reported in the Troubled Company Reporter on Sept. 7, 2006, the
Debtor disclosed that it originally retained Clear Thinking in
July 2006 to provide certain business advisory services.  The
Debtor said it wishes to continue Clear Thinking's engagement
during its chapter 11 case.

Clear Thinking will:

    a. lead and manage the bankruptcy process on a full-time
       basis;

    b. assist the Debtor in connection with its Chapter 11
       bankruptcy filing, including the preparation of the
       necessary schedules and budgets;

    c. assist in the process of seeking to obtain debtor-in-
       possession financing, if required, and

    d. assist the Debtor in every step of the bankruptcy
       reorganization process, with the goal of obtaining Court
       approval of a plan of reorganization that will be in the
       best interest of all stakeholders, including creditors,
       equity holders, customers, and employees.

The Debtor tells the Court that Clear Thinking's professionals
bill:

       Professional                   Hourly Rate
       ------------                   -----------
       Principals                         $400
       Managers                           $325
       Consultants                        $250
       Analysts                           $150
       Administrative Support Staff        $75

To the best of the Debtor's knowledge, Clear Thinking is a
"disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code.

Based in San Luis Obispo, California, Copelands' Enterprises,
Inc., dba Copelands' Sports -- http://www.copelandsports.com/--
operates specialty sporting goods stores.  The Company filed for
chapter 11 protection on Aug. 14, 2006 (Bankr. D. Del. Case No.
06-10853).  Laura Davis Jones, Esq., Marc A. Berlinson, Esq., and
Ira A. Kharasch, Esq., at Pachulski, Stang, Ziehl, Young, Jones, &
Weintraub LLP, in Los Angeles, California, represent the Debtor.
Clear Thinking Group serves as the Debtor's financial advisor.
When the Debtor filed for protection from its creditors, it
estimated assets and debts between $50 million and $100 million.


CORUS ENTERTAINMENT: Buying CanWest Radio Stations for $15 Million
------------------------------------------------------------------
Corus Entertainment Inc. has entered into an agreement with
CanWest MediaWorks Inc. for the purchase of CanWest's two existing
radio stations in Canada - 99.1 Cool FM in Winnipeg, Manitoba and
91.5 The Beat FM in Kitchener, Ontario - for an aggregate cash
price of approximately $15 million.  Completion of the transaction
is conditional upon the purchaser obtaining CRTC and any other
necessary regulatory approvals.

                           About CanWest

CanWest MediaWorks Inc. -- http://www.canwestmediaworks.com/-- is
a wholly owned subsidiary of CanWest Global Communications Corp,
Canada's largest media company.  In addition to owning the Global
Television Network, CanWest is Canada's largest publisher of daily
newspapers, and also owns, operates and/or holds substantial
interests in conventional television, out-of-home advertising,
specialty cable channels, Web sites and radio networks in Canada,
New Zealand, Australia, Singapore, Indonesia, Malaysia, Turkey,
the United States and the United Kingdom.

                   About Corus Entertainment

Corus Entertainment Inc. (TSX: CJR.B; NYSE: CJR) --
http://www.corusent.com/-- is a Canadian-based media and
entertainment company.  Corus is a market leader in specialty
television and radio with additional assets in pay television,
advertising and digital audio services, television broadcasting,
children's book publishing and children's animation.
The company's multimedia entertainment brands include YTV,
Treehouse, W Network, Movie Central, Nelvana, Kids Can Press and
radio stations including CKNW, CKOI and Q107.  Corus creates
engaging branded entertainment experiences for its audiences
across multiple platforms.  A publicly traded company, Corus is
listed on the Toronto (CJR.B) and New York (CJR) exchanges.

                           *     *     *

As reported in the Troubled Company Reporter on June 16, 2005,
Standard & Poor's Ratings Services revised its outlook on Corus
Entertainment Inc. to stable from negative and affirmed its 'BB'
long-term corporate credit rating on the company.

Dominion Bond Rating Service confirmed Corus Entertainment Inc.'s
issuer rating at BBp on Aug. 5, 2005.  On this date, DBRS said the
trend was stable.


COUDERT BROTHERS: Wants Wilson Elser to Continue Representation
---------------------------------------------------------------
Coudert Brothers LLP asks the U.S. Bankruptcy Court for the
Southern District of New York for permission to employ Wilson
Elser Moskowitz Edelman & Dicker LLP as its special counsel, nunc
pro tunc to Sept. 22, 2006.

Wilson Elser will continue representation of the Debtor in two
separate pending actions:

    (i) Statek Corporation et al. v. Coudert Brothers LLP, and
   (ii) SenoRx, Inc. v. Coudert Brothers LLP.

                          Statek Action

On or about Oct. 28, 2005, Statek Corporation and Technicorp
International II, Inc., commenced an action in the Superior
Court of Connecticut, Judicial District of Stamford-Norwalk (Case
No. CV-05-50000425S) against, amongst other defendants, the
Debtor, Dean Poster, a former associate of Debtor, and Steven
Beharrell, a former partner of Debtor.  The suit alleges certain
causes of action for fraud, breach of fiduciary duty, legal
malpractice, fraudulent concealment, and negligence arising from
their alleged participation in, assistance in and concealment of
an international defalcation scheme of Frederick Johnston and
Sandra Spillane, the principals of the Statek Plaintiffs.  The
Statek Plaintiffs have alleged damages in a sum in excess of
$30 million.

The Statek Plaintiffs claimed that the Debtor, by Messrs.
Beharrell and Poster, participated in, assisted in or concealed
Mr. Johnston's and Ms. Spillane's diversion of up to $30 million
in corporate funds from Statek Corporation, and its other
principal Miklos Vendel, for their own personal use, all while the
Statek Plaintiffs were clients of the Debtor.

Wilson Elser has filed a pending motion to dismiss the Statek
Action based upon, among other things, lack of jurisdiction over
the Debtor and Mr. Poster, in that all of the alleged legal
activities occurred in Great Britain, and forum non conveniens.
To date, the court has ordered that the parties exchange discovery
on the issue of jurisdiction prior to any decision on the pending
motion.  The parties are in the process of exchanging discovery
and taking depositions with respect to the jurisdiction issues.

                          SenoRx Action

On or about October 27, 2005, SenoRx, Inc. filed a complaint
with the Superior Court of the State of California for the County
of San Francisco, Case No. CGC04435849, alleging certain causes of
action against the Debtor for professional negligence, breach of
contract and breach of fiduciary duty, and asserting unspecified
damages.

SenoRx has alleged that Debtor negligently failed to properly
provide legal services related to the filing of Japanese, European
and Canadian PCT applications.  Thereafter, SenoRx filed numerous
"doe amendments" to amend its complaint to identify and name 99
partners of the Debtor as additional party defendants in the
SenoRx Action,

                      Wilson Elser Retention

David L. Tillem, Esq. a partner at Wilson Elser, tells the Court
that the firm's professionals bill:

         Professional                   Hourly Rate
         ------------                   -----------
         Partners                           $400
         Associates                     $125 - $275
         Paralegals                         $100

Mr. Tillem assures the Court that his firm is a "disinterested
person" as that term is defined in Section 101(14) of the
Bankruptcy Code.

Mr. Tillem can be reached at:

         David L. Tillem, Esq.
         Wilson Elser Moskowitz Edelman & Dicker LLP
         3 Gannett Drive
         White Plains, NY 10604-3407
         Tel: (914) 323-7000
         Fax: (914) 323-7001
         http://www.wilsonelser.com/

Coudert Brothers LLP was an international law firm specializing
in complex cross border transactions and dispute resolution.  The
Debtor filed for Chapter 11 protection on Sept. 22, 2006 (Bankr.
S.D.N.Y. Case No. 06-12226).  In its schedules of assets and
debts, Coudert listed total assets of $29,968,033 and total debts
of $18,261,380.  The Debtor's exclusive period to file a chapter
11 plan expires on Jan. 20, 2007.


COUDERT BROTHERS: Wants Dunn Koes to Appeal Lyman Suit Verdict
--------------------------------------------------------------
Coudert Brothers LLP asks the U.S. Bankruptcy Court for the
Southern District of New York for permission to employ Dunn Koes
LLP as its special counsel, nunc pro tunc to Sept. 22, 2006.

Dunn Koes will continue representation of the Debtor in an appeal
to the malpractice jury verdict and judgment entered in the matter
of Lyman Gardens Apartments, LLC, et al., v. Coudert Brothers LLP,
et al.

Lyman Gardens Apartments, LLC and Darryl Wong commenced an action
in the Superior Court of California for the County of Los Angeles,
Case No. BC299990, against Debtor and Ralph Navarro, a partner of
the Debtor, asserting certain causes of action for professional
negligence/attorney malpractice fraud, breach of fiduciary duty,
legal malpractice, fraudulent concealment, and negligence arising
from a real estate transaction for which the Lyman Gardens
Plaintiffs engaged the services of the Debtor.

In or about June 2006, after a trial on the merits, a jury awarded
the Lyman Gardens Plaintiffs compensatory and punitive damages
against the Debtor in the sum of $2.5 Million.  The Debtor has
appealed the Lyman Gardens Judgment, which appeal is presently
pending and has not yet been perfected.

Pamela Dunn, Esq., a partner at Dunn Koes, tells the Court that
the firm's professionals bill:

         Professional                   Hourly Rate
         ------------                   -----------
         Partners                       $275 - $350
         Associates                         $250
         Paralegal                          $110

Ms. Dunn assures the Court that his firm is a "disinterested
person" as that term is defined in Section 101(14) of the
Bankruptcy Code.

Ms. Dunn can be reached at:

         David L. Tillem, Esq.
         Dunn Koes LLP
         336 South Euclid Avenue
         Pasadena, California 91101
         Tel: (626) 685-9500/9502
         Fax: (626) 685-2010
         http://www.dunnkoes.com/

Coudert Brothers LLP was an international law firm specializing
in complex cross border transactions and dispute resolution.  The
Debtor filed for Chapter 11 protection on Sept. 22, 2006 (Bankr.
S.D.N.Y. Case No. 06-12226).  In its schedules of assets and
debts, Coudert listed total assets of $29,968,033 and total debts
of $18,261,380.  The Debtor's exclusive period to file a chapter
11 plan expires on Jan. 20, 2007.


CYOP SYSTEMS: June 30 Balance Sheet Upside-Down by $1.2 Million
---------------------------------------------------------------
CYOP Systems International Incorporated reported a $201,184 net
loss on zero revenues for the three months ended June 30, 2006,
compared to a $231,469 net loss on $2,363 of net revenues in 2005.

At June 30, 2006, the Company's balance sheet showed $2.2 million
in total assets and $3.5 million in total liabilities, resulting
in a $1.2 million stockholders' deficit.

The Company had cash and cash equivalents of $1,608 at
June 30, 2006 and a working capital deficit of $2,927,974 with the
deficiency arising primarily from $1,315,112 in loans from
directors and a $1,474,557 convertible debenture with Cornell
Capital Partners LP.

A full-text copy of the Company's Quarterly Report is available
for free at http://researcharchives.com/t/s?12d3

                        Going Concern Doubt

De Leon & Company, P.A., in Pembroke Pines, Florida, raised
substantial doubt about CYOP Systems' ability to continue as a
going concern after auditing the Company's consolidated financial
statements for the years ended Dec. 31, 2005, and 2004.  The
auditor pointed to the Company's recurring losses from operations
and capital deficiency.

Headquartered in Beverly Hills, California, CYOP Systems
International Incorporated and its subsidiaries provide multimedia
transactional technology solutions and services for the
entertainment industry.  The Company's range of products and
services include financial transaction platforms for on-line video
games, licensed online gaming software and integrated e-commerce
transaction technology for on-line merchants.


DANA CORP: Wants Court to Bifurcate Reclamation Claim Issues
------------------------------------------------------------
On or before June 30, 2006, more than 450 parties sent letters to
Dana Corporation and its debtor-affiliates demanding the return of
certain previously shipped goods and asserting reclamation claims
against the Debtors in an aggregate amount of more than
$297,000,000, pursuant to Section 546(c) of the Bankruptcy Code.

Pursuant to the Reclamation Procedures duly approved by the U.S.
Bankruptcy Court for the Southern District of New York, the
Debtors filed a notice listing the Reclamation Claims and their
reconciliation of each Reclamation Claim.  The Debtors asserted
that various fact-intensive defenses to the Reclamation Claims
reduced the aggregate amount of Reclamation Claims they
acknowledged as valid from the approximately $300,000,000 worth
of goods initially sought to be reclaimed to approximately
$3,000,000.

The Debtors also asserted that certain legal defenses to the
Reclamation Claims based on the existence of prior liens on the
goods to be reclaimed rendered all of the Reclamation Claims
valueless.

As of Sept. 20, 2006, approximately 132 Reclamation Claimants
have filed objections to the Reclamation Notice.  About 320
Reclamation Claimants did not object to the Debtors'
reconciliation of their Reclamation Claims and each of their
claims is deemed finally allowed for $0.

Pursuant to Section 105(a) of the Bankruptcy Code and Rules 7042
and 9014(c) of the Federal Rules of Bankruptcy Procedure, the
Debtors ask the Court to:

   (a) bifurcate its consideration of:

          (i) the Prior Lien Defense, and

         (ii) the other aspects of the Remaining Reclamation
              Claims, including each claimant's prima facie case
              in support of its Remaining Reclamation Claim, the
              application of other Fact-Intensive Defenses and
              any other issues raised in the Reclamation
              Objections;

   (b) establish a briefing schedule governing the consolidated
       litigation of the Prior Lien Defense with respect to all
       of the Remaining Reclamation Claims; and

   (c) only if necessary after the Court's determination of the
       Prior Lien Defense -- i.e., if the Debtors do not prevail
       in whole on the Prior Lien Defense and the applicable
       claims are not otherwise resolved consensually -- set a
       date or dates for one or more conferences regarding the
       litigation of the Remaining Reclamation Claims, including
       establishing discovery guidelines, pretrial hearing dates,
       necessary briefing schedules and the scheduling of
       evidentiary hearings on each of the Remaining Reclamation
       Claims.

Corinne Ball, Esq., at Jones Day, in New York, argues that the
Prior Lien Defense should be determined by the Court before any
litigation of the Fact-Intensive Defenses or any other issues
relating to the Remaining Reclamation Claims.

According to Ms. Ball, the Debtors believe that the Prior Lien
Defense presents a generally applicable, threshold defense to the
validity of each Reclamation Claim.  "Specifically, the Debtors
have determined that approximately $377,000,000 of their
outstanding prepetition indebtedness was secured by liens on
substantially all of their assets, including liens on the
Reclaimed Goods.  This prepetition indebtedness was satisfied by
the proceeds of a debtor-in-possession financing facility, which
itself was secured by substantially identical liens," Ms. Ball
says.

If the Court determines that the Prior Lien Defense is
applicable, Ms. Ball asserts that further litigation of the Fact-
Intensive Defenses and any other issues relating to the Remaining
Reclamation Claims would be rendered unnecessary since a ruling
in favor of the Debtors would render all of the Remaining
Reclamation Claims valueless.  Moreover, Ms. Ball continues, the
Prior Lien Defense does not depend on facts specific to each
Objecting Claimant, but instead depends on a set of common facts
relating to the Debtors' prepetition and postpetition financing
arrangements.

Thus, Ms. Ball says, litigation of the generally applicable Prior
Lien Defense prior to any litigation of the Fact-Intensive
Defenses or other issues would preserve the resources of the
Debtors, the Objecting Claimants and the Court, while potentially
obviating the need for the piecemeal and heavily fact-intensive
litigation of the more than 130 individual Remaining Reclamation
Claims.

The Debtors also ask the Court to stay and postpone any and all
litigation related to the Fact-Intensive Defenses until after the
Court:

    (a) has ruled on the applicability of the Debtors' Prior
        Lien Defense to the Remaining Reclamation Claims; and

    (b) has conducted Scheduling Conferences.

The Debtors also ask the Honorable Burton R. Lifland to establish
a Briefing Schedule for the litigation of the Prior Lien Defense:

   (1) The Debtors' initial brief in support of the Prior Lien
       Defense to the Remaining Reclamation Claims will be filed
       with the Court and served on all necessary parties no
       later than Monday, Oct. 23, 2006, at 4:00 p.m., Eastern
       Time.

   (2) All briefs in response to the Initial Brief must be filed
       with the Court by Objecting Claimants that wish to file
       further papers in response to the Initial Brief and
       served on all necessary parties no later than Tuesday,
       Nov. 7, 2006, at 4:00 p.m., Eastern Time.

   (3) The Debtors' reply to the Responsive Briefs must be filed
       with the Court and served on all necessary parties no
       later than Wednesday, Nov. 22, 2006, at 4:00 p.m.,
       Eastern Time.

The Debtors further ask the Court to convene a hearing with
respect to their asserted Prior Lien Defense on Nov. 29, 2006, at
10:00 a.m., Eastern Time.

If and to the extent that the Debtors do not prevail with respect
to the Prior Lien Defense, the Debtors and the Objecting
Claimants likely will have to litigate the merits of the
Remaining Reclamation Claims, including the prima facie case for
each claim and the other relevant Fact-Intensive Defenses.  If
and when that litigation becomes necessary, the Debtors further
ask the Court to establish one or more scheduling conferences.

                      About Dana Corporation

Toledo, OH-based Dana Corp. -- http://www.dana.com/-- designs and
manufactures products for every major vehicle producer in the
world, and supplies drivetrain, chassis, structural, and engine
technologies to those companies.  Dana employs 46,000 people in 28
countries.  Dana is focused on being an essential partner to
automotive, commercial, and off-highway vehicle customers, which
collectively produce more than 60 million vehicles annually.  The
company and its affiliates filed for chapter 11 protection on
Mar. 3, 2006 (Bankr. S.D.N.Y. Case No. 06-10354).  Corinne Ball,
Esq., and Richard H. Engman, Esq., at Jones Day, in Manhattan and
Heather Lennox, Esq., Jeffrey B. Ellman, Esq., Carl E. Black,
Esq., and Ryan T. Routh, Esq., at Jones Day in Cleveland, Ohio,
represent the Debtors.  Henry S. Miller at Miller Buckfire & Co.,
LLC, serves as the Debtors' financial advisor and investment
banker.  Ted Stenger from AlixPartners serves as Dana's Chief
Restructuring Officer.  Thomas Moers Mayer, Esq., at Kramer Levin
Naftalis & Frankel LLP, represents the Official Committee of
Unsecured Creditors.  Fried, Frank, Harris, Shriver & Jacobson,
LLP serves as counsel to the Official Committee of Equity Security
Holders.  When the Debtors filed for protection from their
creditors, they listed $7.9 billion in assets and $6.8 billion in
liabilities as of Sept. 30, 2005.  (Dana Corporation Bankruptcy
News, Issue No. 22; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


DANA CORP: Wants to Assume & Assign Liberty Property Lease
----------------------------------------------------------
Dana Corporation and its debtor-affiliates ask the U.S. Bankruptcy
Court for the Southern District of New York for authority to:

   (a) assume a Deed of Lease, dated Aug. 11, 2005, with Liberty
       Property, L.P., for a property located at 6950 Harbour View
       Boulevard, in Suffolk, Virginia;

   (b) assign the Warehouse Lease to Walker International
       Transportation, LLC, effective as of Nov. 1, 2006; and

   (c) establish $2,250 as cure amount for the Warehouse Lease to
       be paid to Liberty.

The Debtors entered into the Warehouse Lease to secure a location
for some of their warehousing functions relating to, among other
things, the importing and exporting of parts, Corinne Ball, Esq.,
at Jones Day, in New York, relates.  The Warehouse Lease is set
to expire on Oct. 31, 2011, and calls for annual rent beginning at
approximately $28,000 per month, which increases periodically over
the term of the lease.

According to Ms. Ball, the Debtors have determined that
outsourcing their Warehousing Functions would assist them in
focusing on strategic decision-making, increasing efficiency and
potentially generating long term cost savings.

As a part of their outsourcing efforts, the Debtors seek to
assign the Warehouse Lease to Walker.  The Debtors entered into
an operating service agreement with Walker under which Walker
agreed to perform the Warehousing Functions for the Debtors.

Under the outsourcing arrangement in the Walker Contract, the
Debtors will pay $105,000 to Walker in the first year.  The
amount is approximately equal to or less than what the Debtors
are currently paying for similar services, Ms. Ball informs the
Court.

The Walker Contract will also:

   (a) permit Walker to utilize portions of the Warehouse
       Facility to serve other customers, reducing utilization
       for the Debtors totaling $84,000 per year;

   (b) provide the Debtors with 62-day payment terms; and

   (c) require Walker to pass along 50% of any related
       productivity gains to the Debtors.

Ms. Ball adds that the Debtors' relationship with Walker could
provide other benefits and efficiencies because Walker performs
warehousing functions for the Debtors in other cities.  The
breadth of their relationship ultimately could result in
synergies between the two operations to the benefit of both the
Debtors and Walker, Ms. Ball avers.

Toledo, OH-based Dana Corp. -- http://www.dana.com/-- designs and
manufactures products for every major vehicle producer in the
world, and supplies drivetrain, chassis, structural, and engine
technologies to those companies.  Dana employs 46,000 people in 28
countries.  Dana is focused on being an essential partner to
automotive, commercial, and off-highway vehicle customers, which
collectively produce more than 60 million vehicles annually.  The
company and its affiliates filed for chapter 11 protection on
Mar. 3, 2006 (Bankr. S.D.N.Y. Case No. 06-10354).  Corinne Ball,
Esq., and Richard H. Engman, Esq., at Jones Day, in Manhattan and
Heather Lennox, Esq., Jeffrey B. Ellman, Esq., Carl E. Black,
Esq., and Ryan T. Routh, Esq., at Jones Day in Cleveland, Ohio,
represent the Debtors.  Henry S. Miller at Miller Buckfire & Co.,
LLC, serves as the Debtors' financial advisor and investment
banker.  Ted Stenger from AlixPartners serves as Dana's Chief
Restructuring Officer.  Thomas Moers Mayer, Esq., at Kramer Levin
Naftalis & Frankel LLP, represents the Official Committee of
Unsecured Creditors.  Fried, Frank, Harris, Shriver & Jacobson,
LLP serves as counsel to the Official Committee of Equity Security
Holders.  When the Debtors filed for protection from their
creditors, they listed $7.9 billion in assets and $6.8 billion in
liabilities as of Sept. 30, 2005.  (Dana Corporation Bankruptcy
News, Issue No. 22; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


DANA CORP: Court Moves State Court Action Removal Period to May 28
------------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
extended the period by which Dana Corporation and its debtor-
affiliates may file notices of removal with respect to any actions
to federal court under Section 1452 of the Judicial Procedure Code
and Rule 9027 of the Federal Rules of Bankruptcy Procedure until
the later of:

   (a) May 28, 2007; or

   (b) 30 days after the entry of an order terminating the
       automatic stay with respect to the particular Action
       sought to be removed.

As reported in the Troubled Company Reporter on Sept. 6, 2006,
in light of the myriad of critical issues in their Chapter 11
cases, the Debtors believe that additional time is needed to
complete an analysis of, and make final decisions with respect
to, the possible removal of the Actions in the context of their
overall restructuring.

Corinne Ball, Esq., at Jones Day, in New York, told the Court
that the Debtors are continuing to address the numerous tasks
necessary to the day-to-day administration of their large and
complex Chapter 11 cases and their business operations.

The Debtors are actively engaged in developing and refining a
strategic business plan and participating in discussions with
their various constituencies regarding the reorganization
process, according to Ms. Ball.  The business plan continues to
evolve to take into consideration ongoing business and financial
analyses, developments in the Debtors' chapter 11 cases, the
rapidly changing market conditions in the automotive industry,
discussions with key constituencies and other factors.

The Debtors have not had the information necessary to complete a
final analysis relating to the potential removal of the Actions,
Ms. Ball said.

The Debtors anticipate that by the end of the extension period,
they will have made substantial progress on the completion and
validation of their business plan and will have begun the
development of a plan of reorganization.  Thus, the Debtors will
be in a better position to evaluate potential removal issues in
the context of their overall restructuring efforts, Ms. Ball
pointed out.

Absent the requested extension of the Removal Deadline, Ms. Ball
asserted that the Debtors risk making premature removal decisions
or waiving those rights before they have had an opportunity to
complete an appropriate evaluation of the issues.

Toledo, OH-based Dana Corp. -- http://www.dana.com/-- designs and
manufactures products for every major vehicle producer in the
world, and supplies drivetrain, chassis, structural, and engine
technologies to those companies.  Dana employs 46,000 people in 28
countries.  Dana is focused on being an essential partner to
automotive, commercial, and off-highway vehicle customers, which
collectively produce more than 60 million vehicles annually.  The
company and its affiliates filed for chapter 11 protection on
Mar. 3, 2006 (Bankr. S.D.N.Y. Case No. 06-10354).  Corinne Ball,
Esq., and Richard H. Engman, Esq., at Jones Day, in Manhattan and
Heather Lennox, Esq., Jeffrey B. Ellman, Esq., Carl E. Black,
Esq., and Ryan T. Routh, Esq., at Jones Day in Cleveland, Ohio,
represent the Debtors.  Henry S. Miller at Miller Buckfire & Co.,
LLC, serves as the Debtors' financial advisor and investment
banker.  Ted Stenger from AlixPartners serves as Dana's Chief
Restructuring Officer.  Thomas Moers Mayer, Esq., at Kramer Levin
Naftalis & Frankel LLP, represents the Official Committee of
Unsecured Creditors.  Fried, Frank, Harris, Shriver & Jacobson,
LLP serves as counsel to the Official Committee of Equity Security
Holders.  When the Debtors filed for protection from their
creditors, they listed $7.9 billion in assets and $6.8 billion in
liabilities as of Sept. 30, 2005.  (Dana Corporation Bankruptcy
News, Issue No. 22; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


DOWNEAST HERITAGE: Case Summary & 8 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: The Downeast Heritage Museum
        39 Union Street
        Calais, ME 04619

Bankruptcy Case No.: 06-10360

Type of Business: The Debtor is a nonprofit organization.
                  See http://www.downeastheritage.org/

Chapter 11 Petition Date: September 12, 2006

Court: District of Maine (Bangor)

Debtor's Counsel: Stephen G. Morrell, Esq.
                  Eaton Peabody
                  167 Park Row
                  P.O. Box 9
                  Brunswick, ME 04011
                  Tel: (207) 729-1144
                  Fax: (207) 729-1140

Total Assets: $768,082

Total Debts:  $3,272,891

Debtor's Eight Largest Unsecured Creditors:

   Entity                     Nature of Claim       Claim Amount
   ------                     ---------------       ------------
USDA Rural Development        Loan                    $2,080,952
735 Main Street, Suite 1      Value of security:
Presque Isle, ME 04769        $500,000

USDA Rural Development        Loan                      $600,000
735 Main Street, Suite 1
Presque Isle, ME 04769

Calais Federal Savings        Loan                      $147,817
344 Main Street
Calais, ME 04619

Bangor Savings Bank           Loan                      $146,990
1 Center Street
Machias, ME 04654

First National Bank           Loan                      $146,647
P.O. Box 258
Bar Harbor, ME 04609

Machias Savings Bank          Loan                      $146,334
210 North Street
Calais, ME 04619

James Thompson                Vacation Pay                $3,076
Calais, ME 04619              (4 Weeks)

Tammy Davis                   Vacation Pay                $1,072
39 Union Street               (2 Weeks)
Calais, ME 04619


EASTMAN KODAK: Names Frank S. Sklarsky as Chief Financial Officer
-----------------------------------------------------------------
Eastman Kodak Company has named Frank S. Sklarsky to succeed
Robert H. Brust as the company's Chief Financial Officer.

Sklarsky, 49, is Executive Vice President and CFO of ConAgra Foods
Inc.  He will join Kodak on Oct. 30 as Executive Vice President,
and will become the CFO effective Nov. 13, subsequent to the
company's filing of its Third-Quarter Form 10-Q with the
Securities and Exchange Commission.  Sklarsky will report to Kodak
Chairman and Chief Executive Officer Antonio M. Perez.

Brust, 63, announced in January his intention to retire on Feb. 1,
2007.  During this interim, he will remain with the company as an
Executive Vice President, and will assist Sklarsky in his
transition.

At ConAgra, one of North America's leading packaged food
companies, Sklarsky implemented a new financial organization,
significantly strengthened the balance sheet, and played a major
role in building credibility with the investment community.  He
also helped expand profit margins at the $14 billion company.
Prior to ConAgra, which he joined as CFO in 2004, Sklarsky was a
senior financial executive at DaimlerChrysler and Dell Inc.  In
his 26-year career, he has developed a reputation for improving
the financial operations, as well as the overall financial
performance, of the companies he has served.

At Kodak, as with ConAgra, Sklarsky will be responsible for
worldwide financial operations, including Financial Reporting and
Analysis, Treasury, Audit, Controllership, Tax, and Investor
Relations.  Sklarsky also will have responsibility for Information
Technology functions, Purchasing and Global Shared Services.

"Frank is exactly the right CFO at this moment in Kodak's historic
transformation," Perez said.  "Frank was a key player in the
financial and operational improvements achieved by ConAgra, as he
was at DaimlerChrysler and Dell.  He understands the challenges of
large, complex companies that are going through great change, and
he also understands the speed and urgency demanded by digital
markets.  I am confident that Frank will build on the significant
contributions of Bob Brust as we work together to extend Kodak's
leadership in digital markets."

Sklarsky, a native of Buffalo, New York, is a 1978 graduate of the
Rochester Institute of Technology.  He received an MBA from
Harvard Business School in 1983.

"I am thrilled to be joining the company at this exciting time in
its transformation," Sklarsky said.  "I was attracted to Kodak's
innovative portfolio of commercial and consumer imaging products,
all of which contribute to making life richer and more enjoyable
for our customers.  The combination of a global iconic brand and
powerful intellectual property further positions Kodak to achieve
sustained success in digital markets.  The company has significant
opportunities to achieve margin expansion in those markets, and I
consider it a privilege to be given the responsibility to help
pursue those opportunities with Antonio and the world-class team
he has assembled."

Sklarsky was recruited by ConAgra in late 2004 from
DaimlerChrysler, where he was Vice President, Product Finance, a
position he held between 2001 and 2004.  Prior to that, he spent
more than one year as Vice President, Corporate Finance, and Vice
President of Dell's $5 billion consumer business.  Sklarsky left
Dell when DaimlerChrysler recruited him back to assist with the
company's turnaround efforts.

Sklarsky first joined DaimlerChrysler in 1983, and held a series
of increasingly responsible finance positions before leaving for
Dell in 2000.  At the time of his departure for Dell, he was
DaimlerChrysler's Vice President, Corporate Financial Activities.
He also had financial responsibility for procurement, product
quality, cost management and worldwide manufacturing during his
tenure.

Prior to DaimlerChrysler, Sklarsky, a certified public accountant,
served as a Senior Accountant at Ernst & Young International from
1978 to 1981.

                     About Eastman Kodak Co.

Headquartered in Rochester, New York, Eastman Kodak Co. --
http://www.kodak.com/-- engages in the development,
manufacturing, and marketing of digital and traditional imaging
products, services, and solutions to consumers, businesses, the
graphic communications market, the entertainment industry,
professionals, healthcare providers, and other customers.

                        *     *     *

As reported in the Troubled Company Reporter on Aug. 11, 2006,
Moody's Investors Service placed Eastman Kodak Company on review
for possible downgrade.  Ratings under review include the
Company's B1 Corporate Family Rating; B2 Senior Unsecured Rating;
and Ba3 rating on the Senior Secured Credit Facilities.

Moody's review continues to focus on the company's potential sale
of the Kodak Health Group as well as the fundamental operating
performance of the company.

As reported in the Troubled Company Reporter on Aug. 7, 2006,
Standard & Poor's Ratings Services placed its ratings on Eastman
Kodak Co. (B+/Watch Neg/--) on CreditWatch with negative
implications.  The Rochester, New York-based imaging company had
$3.5 billion in debt as of June 30, 2006.


ECHOSTAR DBS: Fitch Assigns BB- Rating to $500 Million Sr. Notes
----------------------------------------------------------------
Fitch Ratings assigned a 'BB-' rating to Echostar DBS
Corporation's $500 million offering of 7% senior notes due 2013.
The notes will rank equally with the other debt outstanding at
Echostar DBS Corporation.  Proceeds from the note offering will be
used to fund the early redemption of the company's floating rate
senior notes due 2008 on Oct. 1, 2006.

Echostar DBS Corporation is a wholly owned subsidiary of Echostar
Communications Corporation.  The Issuer Default Rating for
Echostar and Echostar DBS Corporation is 'BB-'.  The Rating
Outlook is Stable.

Fitch's ratings incorporate Echostar's lack of revenue and service
diversity as well as the increasing business risks connected to
Echostar's credit profile stemming from the intense competition
for subscriber market share with cable multiple systems operators.

Fitch anticipates that the competitive environment will only
intensify as the cable MSOs' voice over Internet protocol
telephony service gains scale and the telephone companies continue
with the introduction of video service.

From Fitch's perspective, the lack of revenue and service
diversity, primarily stemming from the limitations inherent with
Echostar's satellite infrastructure, weakens the company's
competitive position and ability to respond to the changing and
riskier operating environment.

Fitch's ratings also reflect:

   * the operating leverage derived from Echostar's size and scale
     as the fourth largest multichannel video programming
     distributor in the United States;

   * the company's solid liquidity position, and

   * expectation for continued free cash flow generation.

Fitch's Stable Rating Outlook reflects the consistent subscriber
economic trends as well as the positive EBITDA and free cash flow
prospects expected over the near term balanced with the very
competitive operating environment.

Outside of the announced share repurchase authorization; Fitch
views the use of cash for shareholder friendly actions as an
erosion of financial flexibility that could result in pressure on
the ratings or an Outlook revision.

Additionally, Fitch has concerns related to the uncertainty
surrounding the company's broadband strategy and the potential
cash requirements to launch a wireless broadband service.


ENCORE MEDICAL: S&P Rates Proposed $215 Million Sr. Notes at CCC+
-----------------------------------------------------------------
Standard & Poor's Ratings Services assigned its secured loan and
recovery ratings to Encore Medical Finance LLC's proposed
$50 million revolving credit facility maturing in 2012 and
$325 million term loan B maturing in 2013.  The loan was rated 'B'
(at the same level as the 'B' corporate credit rating on parent
company Encore Medical Corp.) with a recovery rating of '2',
indicating the expectation for substantial (80%-100%) recovery of
principal in the event of a payment default.

Standard & Poor's also assigned its 'CCC+' subordinated debt
rating to Encore Medical Finance LLC and Encore Medical Finance
Corp.'s proposed $215 million senior subordinated notes maturing
in 2014.

The Blackstone Group intends to use the debt proceeds and
approximately $350 million of equity to:

   * purchase Encore Medical Corp.;
   * refinance Encore's existing debt; and
   * fund related transaction costs.

The 'B' corporate credit rating on Austin, Texas-based Encore
Medical Corp. was affirmed and removed from CreditWatch, where it
was placed with negative implications July 7, 2006, due to
concerns about the company's post-transaction debt leverage.  The
rating outlook is stable.

"The low-speculative-grade rating on Encore reflects the company's
significant reliance on electrotherapy products, its acquisition-
based growth strategy, and its highly leveraged capital
structure," said Standard & Poor's credit analyst Jesse Juliano.

"These negative rating factors are only partially offset by the
company's strong positions in the niche physical therapy and
orthopedic rehabilitation equipment markets, and its liquidity,
which is consistent with the 'B' rating category."


ENRON CORP: Distributes $3.4 Billion to Creditors
-------------------------------------------------
Enron Corp. disclosed its twelfth distribution to creditors of
Enron Corp. and its affiliated debtor companies on Oct. 3, 2006.

The distribution to holders of allowed general unsecured claims
and allowed guaranty claims totals $3,371,700,000, consisting of
$3,337,300,000 in cash and shares of Portland General Electric
Company stock valued at $34,400,000.  Since November 2004, Enron
has returned $9,396,900,000 to Creditors in twice-yearly
distributions, in April and October, as well as in "catch-up"
distributions paid on an interim basis every two months.

"[The] distribution is another very significant amount delivered
to Creditors and represents a tremendous financial outcome for the
Enron estate," said John Ray, President and Chairman of the Board.
"The total amounts distributed with respect to Enron Corp. and
Enron North America Corp. represent a return to Creditors to date
of 26.0% and 29.0%, respectively, as compared to Disclosure
Statement total return estimates of 17.4% and 20.1%.  Our mission
going forward is to bring to settlement or trial the remaining
litigation with those institutions which assisted in the downfall
of Enron, to liquidate the remaining assets held for sale, and to
continue to pursue a course which maximizes distributable value to
Creditors and improve upon the returns to date."

The distribution included 1,639,046 shares of PGE, which, when
added to prior distributions of 27,957,266 shares (and 53,037 of
PGE shares returned and held for further distribution),
cumulatively represents approximately 47% of PGE's 62,500,000
issued and outstanding shares. Pursuant to Sections 21.3 and 32.1
of the Plan, the number of shares of PGE Common Stock distributed
in October 2006 is less than the distribution in April 2006,
reflecting the necessity to reserve significant shares of PGE
Common Stock to maintain a balanced mix of Plan Currency by Plan
Class and provide for potential additional cash inflows to the
estates from litigation, asset sales and other resources.

Accordingly, certain creditors are receiving no additional shares
of PGE Common Stock in the October 2006 distribution.  The
remaining 32,850,651 PGE shares will be held by the Disputed
Claims Reserve, which is not affiliated with Enron, for future
distribution to creditors of Enron by the Bankruptcy Court in
accordance with Enron's Chapter 11 Plan.  The Disputed Claims
Reserve currently consists of approximately $6,067,900,000 in cash
and $690,100,000 PGE share value.

A full-text-copy of the Notice of Distribution for October is
available for free at http://ResearchArchives.com/t/s?12e2

Headquartered in Houston, Texas, Enron Corporation filed for
chapter 11 protection on December 2, 2001 (Bankr. S.D.N.Y. Case
No. 01-16033) following controversy over accounting procedures,
which caused Enron's stock price and credit rating to drop
sharply.  Judge Gonzalez confirmed the Company's Modified Fifth
Amended Plan on July 15, 2004, and numerous appeals followed.  The
Debtors' confirmed chapter 11 Plan took effect on Nov. 17, 2004.
Albert Togut, Esq., at Togut Segal & Segal LLP and Brian S. Rosen,
Esq., at Weil, Gotshal & Manges LLP represent the Debtor.  Jeffrey
K. Milton, Esq., at Milbank, Tweed, Hadley & McCloy LLP represents
the Official Committee of Unsecured Creditors.


ENTERGY NEW: BNY & FGIC Want Interest Payments on Sec. Bonds Now
----------------------------------------------------------------
The Bank of New York, as indenture trustee, and the Financial
Guaranty Insurance Company reiterate their request that Entergy
New Orleans, Inc., be directed to make interest payments beginning
as of Sept. 23, 2006 on the ENOI-issued secured bonds as "adequate
protection" of the bondholders' interest pursuant to Sections
363(e) and 361(1) of the Bankruptcy Code.

In the alternative, BNY and FGIC ask the U.S. Bankruptcy Court for
the Eastern District of Louisiana, pursuant to  Section 105(a) of
the Bankruptcy Code, to authorize and direct the Debtor to make
the interest payments on the basis that the payments are in the
best interest of its estate, its creditors and all parties-in-
interest.

Tristan Manthey, Esq., at Heller, Draper, Hayden, Patrick and
Horn, L.L.C., in New Orleans, Louisiana, citing, among others, In
re Revco D.S., Inc., 901 F.2d 1359, 1362 (6th Cir. 1990), notes
that courts have held that payment of interest to a holder of
prepetition secured debt is an appropriate form of adequate
protection.

The bondholders have a security interest in all of the Debtor's
assets as a result of a settlement stipulation among the Debtor,
the Trustee and FGIC.  Payment of interest to the Bonds would
compensate the bondholders for the significant risk to their
collateral, Mr. Manthey asserts.  He avers that, in light of
various uncertainties associated with the future of the Debtor's
business, it is possible that the bondholders' collateral could
decline in value.

Mr. Manthey notes that ENOI is seeking an extension of its
exclusive period to file a reorganization plan through
December 19, 2006.  However, he points out, it is not clear
whether ENOI would be prepared to file a plan by December 19 or
whether it intends to seek further extensions from the Court.

Mr. Manthey adds that each day that elapses until a plan is
confirmed for ENOI and the bondholders are paid the interest to
which they are entitled, the estate will continue to accrue
liability for interest on the unpaid Bond interest.  Interest on
the unpaid interest will further increase the estate's costs and
potentially reduce distributions to unsecured creditors.

The Debtor's failure to make interest payments to the Bondholders
and allow interest on interest to accrue, to the detriment of its
creditors, is tantamount to a breach of fiduciary duty,
Mr. Manthey contends.

Even if the Court finds that the payment of interest to the
bondholders is not warranted under adequate protection standards,
the Court may authorize the payments by an exercise of its broad
equitable powers under Section 105(a), Mr. Manthey maintains.

In light of the circumstances, it is clear that the Court is
authorized to and should grant the interest payments to protect
the best interests of the estate and prevent the Debtor from
abusing the bankruptcy process, Mr. Manthey asserts.

                  About Entergy New Orleans Inc.

Headquartered in Baton Rouge, Louisiana, Entergy New Orleans Inc.
-- http://www.entergy-neworleans.com/-- is a wholly owned
subsidiary of Entergy Corporation.  Entergy New Orleans provides
electric and natural gas service to approximately 190,000 electric
and 147,000 gas customers within the city of New Orleans.  Entergy
New Orleans is the smallest of Entergy Corporation's five utility
companies and represents about 7% of the consolidated revenues and
3% of its consolidated earnings in 2004.  Neither Entergy
Corporation nor any of Entergy's other utility and non-utility
subsidiaries were included in Entergy New Orleans' bankruptcy
filing.  Entergy New Orleans filed for chapter 11 protection on
Sept. 23, 2005 (Bankr. E.D. La. Case No. 05-17697).  Elizabeth J.
Futrell, Esq., and R. Partick Vance, Esq., at Jones, Walker,
Waechter, Poitevent, Carrere & Denegre, L.L.P., represent the
Debtor in its restructuring efforts.  Carey L. Menasco, Esq.,
Philip Kirkpatrick Jones, Jr., Esq., and Joseph P. Hebert, Esq.,
at Liskow & Lewis, APLC, represent the Official Committee of
Unsecured Creditors.  When the Debtor filed for protection from
its creditors, it listed total assets of $703,197,000 and total
debts of $610,421,000.  (Entergy New Orleans Bankruptcy News,
Issue No. 24; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


FALCON AIR: Ch. 11 Trustee Has Until Dec. 6 to Decide on Leases
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Florida
gave Kenneth A. Welt, the Chapter 11 Trustee appointed in Falcon
Air Express, Inc.'s chapter 11 case, until Dec. 6, 2006, to
assume, assume and assign or reject unexpired nonresidential real
property leases.

As reported in the Troubled Company Reporter on Sept. 13, 2006,
Mr. Welt informed the Court that on June 29, 1999, the Debtor and
9500 Building, Ltd., entered into a lease for certain real
property located at 9500 Northwest 41st Street in Miami, Florida.
The original lease term expired July 31, 2004.  According to Mr.
Welt, the lease was extended through May 31, 2006, and the Debtor
has remained in possession of the premises since that period, as a
month-to-month tenant at will, on an agreed basis with the
landlord pursuant to the terms of the lease and the parties'
Court-approved stipulation entered July 7, 2006.

Mr. Welt and the Debtor intend to relocate to another building
located at 9000 Northwest 15th Street in Miami, Florida, pursuant
to a commercial property lease entered between the Debtor and
Lakes Edge Commercial Properties, LLC, on or about March 14, 2005.
The new lease had a five-year term.

Mr. Welt said the Debtors' interests in the leases and rights are
valuable property leases, and that the new lease has a valuable
purchase option that is attractive to prospective buyers of the
Debtor's business.

The extension, Mr. Welt explained, will allow him to decide on
leases in connection with a Section 363 sale or Chapter 11 Plan,
and to avoid substantial administrative expenses to the estate by
preventing assumption of the new lease prior to sale of the
business or Plan confirmation.

Headquartered in Miami, Florida, Falcon Air Express, Inc. --
http://www.falconairexpress.net/-- is a small and low-cost
airline company that provides charter service and renders foreign
and U.S. carriers sub-services on schedules routes.  The Debtor
and its affiliate, MAJEL Aircraft Leasing Corp., filed for chapter
11 protection on May 10, 2006 (Bankr. S.D. Fla. Case Nos. 06-11877
& 06-11878).  Brian G. Rich, Esq., at Berger Singerman, P.A.,
represents the Debtors in their restructuring efforts.  Peter D.
Russin, Esq., and Michael S. Budwick, Esq., at Meland Russin &
Budwick, P.A., represent the Official Committee of Unsecured
Creditors.  On June 26, 2006, Kenneth A. Welt was appointed as the
Debtor's Chapter 11 Trustee.  Ariel Rodriguez, Esq., and Frank P.
Terzo, Esq., at Katz Barron Squitero Faust represents the Chapter
11 Trustee.  When the Debtors filed for protection from their
creditors, they estimated assets and debts between $10 million and
$50 million.


FAREPORT CAPITAL: Outlines Financing and Debt Restructuring Deals
-----------------------------------------------------------------
Fareport Capital Inc. will restructure its affairs, settle
outstanding litigation, complete a conversion of substantially all
of its current debt obligations, consolidate its issued and
outstanding common shares and pursue a private placement financing
of its common shares.  These are all subject to shareholder and
regulatory approval.

Fareport proposes to enter into a financing transaction with an
investor.  The investor will make a $2,800,000 commitment to
acquire certain existing debt and new common shares of Fareport.
Specifically, the investor will first advance the company $200,000
by way of an unsecured subordinated loan bearing interest at 12%
per annum, evidenced by a convertible promissory note, to be used
as working capital.  Next, the investor will acquire prior loans
from current holders, which are certain pre-existing debentures,
promissory notes and other indebtedness of the company having a
face value of approximately $3,076,084.

The company then proposes to complete a 100:1 share consolidation,
following which the prior loans will be converted into its common
shares.  The investor will then purchase approximately $1,130,838
worth of common shares of Fareport issued from treasury at the
Conversion Price.  It is anticipated that the investor will
instruct the company to register the shares issuable upon the
conversion of the prior loans in the names of certain shareholders
of the investor.

Finally, the company proposes to create and issue to the investor
$100,000 worth of first convertible preferred shares such that the
investor will, after those preferred shares are converted into
common shares, own for its own account 60% of the issued and
outstanding common shares of Fareport.  As a result of these
transactions, the investor would become the controlling
shareholder of the company.

The terms of the transaction have been set out in a binding
commitment letter and term sheet.  It is anticipated that the
commitment letter will be superceded by definitive detailed
documentation.

Pursuant to the commitment letter, Fareport will seek the
agreement of the creditors under the prior loans to settle, in
full and final satisfaction, the prior loans in exchange for the
sale of such prior loans to the investor for cash.  This
settlement is also expected to include a settlement of all
outstanding litigation involving Fareport.   The "Conversion
Price" will be $2.50 on a post-consolidation basis, being the
price per share equal to 80% percent of $0.025, the closing
price of the common shares on September 21, 2006, the last trading
day preceding the execution of the commitment letter, adjusted to
reflect the share consolidation.

In order to complete these transactions, the outstanding
litigation must be settled and prior shareholder approval of:

   (a) the consolidation of Fareport's common shares on a one
       hundred "old" common shares for one "new" common share
       basis;

   (b) the terms of conversion of the prior debt;

   (c) the issuance of Common Shares from treasury; and

   (d) the creation of a new class of preferred shares of
       Fareport must be obtained.

A prior TSX Venture Exchange approval is also required to complete
the transactions.  The company covenants to hold a special meeting
of its shareholders to approve these matters within 75 days of the
advance closing.  These transactions are also subject to the
investor being satisfied with its due diligence investigations of
Fareport, acting reasonably, such condition to be satisfied or
waived by the investor by Oct. 23, 2006.

Also, Fareport will provide an update with regards to its
compliance with Ontario Securities Commission Policy 57-603.  In
addition to the foregoing, and further to the press release of
September 22, 2006, the company is up-to-date with respect to its
financial statements and management reporting.  The temporary
management and insider cease trade order imposed pursuant to OSC
Policy 57-603 continues to be in effect.  The MCTO prohibits
present and certain past directors, officers and insiders of the
company from trading in its securities of.

Fareport will continue to provide updates on these and related
matters in accordance with OSC Policy 57-603.

                      About Fareport Capital

Fareport Capital Inc. (TSX-V: CAB) -- http://www.fareport.com/--  
operates the Crown Taxi and Olympic Taxi brokerages and dispatch
operations in the city of Toronto.  The Crown Taxi division
dispatches over 300 vehicles.  In addition, through its Crown
Transportation and Trax Shuttle Services divisions, the Company
also offers charter transportation services.

                           *     *     *

Fareport Capital Inc.'s balance sheet at April 30, 2006 showed
total assets of CDN$1.7 million and total liabilities of CDN$3.8
million, resulting in a shareholders' deficit of CDN$2.1 million.
Shareholders' deficit at July 31, 2005 stood at CDN$1.5 million.


FORD MOTOR: Improvement to Show in 2007 Second Half, Says CFO
-------------------------------------------------------------
Ford Motor Company expects to show improvement when its cost
cutting measures take effect and production ramps up in the second
half of 2007, The Wall Street Journal reports.

The Journal article quoted Don Leclair, Ford's chief financial
officer as saying that the effect of the cost cuts will not be
immediately visible because of lower production in the first half
of 2007 and declining market share that is seen to continue until
2008.

In early September, Ford unveiled a revised version of its "Way
Forward" turnaround plan that is seen to further reduce its
capacity and work force and accelerate new product introductions.
Ford expects ongoing annual operating cost reductions of
approximately $5 billion from its restructuring efforts.  Ford's
actions include buyout offers for all 75,000 of its U.S. hourly
workers, a 30% reduction in salaried staff, and the suspension of
quarterly dividends.

As reported in the Troubled Company Reporter on Aug. 21, 2006, the
revised plan will also cut fourth-quarter production by 21% -- or
168,000 units -- compared with the fourth quarter a year ago, and
reduce third-quarter production by approximately 20,000 units.

                       About Ford Motor

Headquartered in Dearborn, Michigan, Ford Motor Company --
http://www.ford.com/-- manufactures and distributes
automobiles in 200 markets across six continents.  With more
than 324,000 employees worldwide, the company's core and
affiliated automotive brands include Aston Martin, Ford, Jaguar,
Land Rover, Lincoln, Mazda, Mercury and Volvo.  Its automotive-
related services include Ford Motor Credit Company and The Hertz
Corporation.

                         *     *     *

As reported in the Troubled Company Reporter on Aug. 22, 2006,
Dominion Bond Rating Service placed long-term debt rating of
Ford Motor Company Under Review with Negative Implications
following announcement that Ford will sharply reduce its North
American vehicle production in 2006.  DBRS lowered on July 21,
2006, Ford Motor Company's long-term debt rating to B from BB,
and lowered its short-term debt rating to R-3 middle from R-3
high.  DBRS also lowered Ford Motor Credit Company's long-term
debt rating to BB(low) from BB, and confirmed Ford Credit's
short-term debt rating at R-3(high).

Fitch Ratings also downgraded the Issuer Default Rating of Ford
Motor Company and Ford Motor Credit Company to 'B' from 'B+'.
Fitch also lowered the Ford's senior unsecured rating to
'B+/RR3' from 'BB-/RR3' and Ford Credit's senior unsecured
rating to 'BB- /RR2' from 'BB/RR2'.  The Rating Outlook remains
Negative.

Standard & Poor's Ratings Services also placed its 'B+' long-
term and 'B-2' short-term ratings on Ford Motor Co., Ford Motor
Credit Co., and related entities on CreditWatch with negative
implications.

As reported in the Troubled Company Reporter on July 24, 2006,
Moody's Investors Service lowered the Corporate Family and
senior unsecured ratings of Ford Motor Company to B2 from Ba3
and the senior unsecured rating of Ford Motor Credit Company to
Ba3 from Ba2.  The Speculative Grade Liquidity rating of Ford
has been confirmed at SGL-1, indicating very good liquidity over
the coming 12-month period.  The outlook for the ratings is
negative.


GENCORP CORP: Moody's Assigns Loss-Given-Default Ratings
--------------------------------------------------------
In connection with Moody's Investors Service's implementation
of its new Probability-of-Default and Loss-Given-Default rating
methodology, the rating agency confirmed its B2 Corporate
Family Rating for GenCorp Inc.  Additionally, Moody's revised
its probability-of-default ratings and assigned loss-given-default
ratings on these loans and bond debt obligations:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
   Revolving Credit
   Facility due 2009       B1      Ba2     LGD1        9%

   Term Loan
   due 2010                B1      Ba2     LGD1        9%

   9.5% Sr. Subor.
   Notes due 2013         Caa1     B1      LGD3        32%

   5.75% Convertible
   Subordinated Notes
   due 2007               Caa2     Caa1    LGD5        78%

   4% Contingent
   Convertible Subor.
   Notes due 2024         Caa2     Caa1    LGD5         78%

   2.25% Convertible
   Subor. Debentures
   due 2024               Caa2     Caa1     LGD5        78%

Moody's explains that current long-term credit ratings are
opinions about expected credit loss, which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

GenCorp Inc. manufactures technology-based aerospace and defense
products in the United States. Based in Rancho Cordova, Calif.,
the Company operates through two segments, Aerospace and Defense
and Real Estate.


GENERAL MOTORS: Nissan COO Says Talks will End in Mid-October
-------------------------------------------------------------
Possible tie-up talks among General Motors Corp., Renault SA, and
Nissan Motor Co. will end by mid-October, Toshiyuki Shiga,
Nissan's chief operating officer, said.  Chris Gallagher at
MarketWatch reported that Mr. Shiga did not comment on the
possibility that the talks will extend beyond the Oct. 15
deadline.

Reports say that GM chairman and chief executive officer Rick
Wagoner is willing to consider the alliance beyond the deadline.

Renault has a 44% stake in Nissan, which in turn owns a 15% stake
in the French automaker.

The billionaire Kirk Kerkorian who owns Tracinda Corp is
pressuring Mr. Wagoner to consider the 3-way alliance.  Mr.
Kerkorian said that Tracinda may buy 12 million shares of GM,
increasing its stake from 9.9% to 12%.

                       About General Motors

General Motors Corp. (NYSE: GM) -- http://www.gm.com/-- the
world's largest automaker, has been the global industry sales
leader since 1931.  Founded in 1908, GM employs about 317,000
people around the world.  It has manufacturing operations in 32
countries and its vehicles are sold in 200 countries.

                           *     *     *

As reported in the Troubled Company Reporter on July 28, 2006,
Standard & Poor's Ratings Services held all of its ratings on
General Motors Corp. -- including the 'B' corporate credit rating,
but excluding the '1' recovery rating -- on CreditWatch with
negative implications, where they were placed March 29, 2006.

As reported in the Troubled Company Reporter on July 27, 2006,
Dominion Bond Rating Service downgraded the long-term debt ratings
of General Motors Corporation and General Motors of Canada Limited
to B.  The commercial paper ratings of both companies are also
downgraded to R-3 (low) from R-3.

As reported in the Troubled Company Reporter on June 22, 2006,
Fitch assigned a rating of 'BB' and a Recovery Rating of 'RR1' to
General Motor's new $4.48 billion senior secured bank facility.
The 'RR1' is based on the collateral package and other protections
that are expected to provide full recovery in the event of a
bankruptcy filing.

As reported in the Troubled Company Reporter on June 21, 2006,
Moody's Investors Service assigned a B2 rating to the secured
tranches of the amended and extended secured credit facility of up
to $4.5 billion being proposed by General Motors Corporation,
affirmed the company's B3 corporate family and SGL-3 speculative
grade liquidity ratings, and lowered its senior unsecured rating
to Caa1 from B3.  The rating outlook is negative.


GENERAL MOTORS: Amends Bylaws & Corporate Governance Policies
-------------------------------------------------------------
General Motors Corp.'s Board of Directors voted to amend the
Company's Bylaws and corporate governance policies to address
stockholder views raised at this year's Annual Meeting.  The
changes include adoption of the majority-voting standard for the
election of directors and a stronger policy to recover unearned
incentive compensation from executive officers in cases of fraud,
misconduct, or negligence.

The amendments are effective immediately.

"Earlier this year, our stockholders expressed a desire for change
surrounding the election of directors and a more defined policy of
accountability for senior officers," GM chairman and chief
executive officer Rick Wagoner said.  "We listened to their views,
and after careful consideration, the Board voted to make changes
to certain Bylaws and corporate governance policies that are in
line with stockholders' input."

The Board agreed to adopt a majority-voting standard in
uncontested elections of directors, when the number of nominees
does not exceed the number of directors to be elected.  Majority
voting requires that nominees to the Board receive more than 50%
of the votes cast to be elected.  Abstentions will not be included
towards counting a majority.  Directors were previously elected by
plurality in uncontested elections.

In accordance with the majority-voting Bylaw, the Board will
require director nominees to submit irrevocable resignations as a
condition to being nominated.  The Board could accept these
resignations if a director do not receive a majority of the votes
cast.  Under a related governance policy, the Board will accept
the resignation of an unsuccessful incumbent absent a compelling
reason to reject the resignation, in accordance with criteria set
out in the policy.  The Bylaws were also amended to fix the number
of directors at the current level of 12, subject to future change
by the Board.

The majority-voting standard received 59% of the affirmative vote
at GM's Annual Meeting in June.  Shortly after the meeting, the
Delaware Legislature amended the state's corporation law to better
facilitate majority voting.

The Board chose not to adopt cumulative voting, which was the
subject of a stockholder proposal that was supported by 54% of
votes cast.  The Board believes that a director has the fiduciary
duty to represent all stockholders and is concerned that
cumulative voting could lead to the election of constituency
directors who feel a duty to the electorate forming their
constituency.  Also, in a company with majority voting, the
addition of cumulative voting would raise the possibility of
accumulating "withhold" or "against" votes.  This could create the
potential for small groups of stockholders to overcome the
interests of the majority.

The Board also adopted a corporate policy under which the company
may require reimbursement of bonus or incentive compensation that
may have been paid to executive officers in the event it is later
determined that fraud, misconduct, or negligence significantly
contributed to a restatement of financial results that led to the
awarding of unearned incentive compensation.  A stockholder
proposal on this issue was supported by 42% of the shares voted at
the Annual Meeting.  Although this proposal did not receive
majority support, the Board voted to respond to the stockholders
desire to see a policy that reflects the robust manner in which GM
has and would deal with such circumstances.

In addition to these governance actions, the Board has amended the
Bylaws to specify the procedures applicable to consent
solicitations initiated by stockholders, which complements the
existing procedures for stockholder initiatives at meetings.
These changes also provide a framework for the conduct of
solicitations in accordance with Delaware law.

The amended Bylaws and corporate governance policies will be filed
with the U.S. Securities and Exchange Commission.

General Motors Corp. (NYSE: GM) -- http://www.gm.com/-- the
world's largest automaker, has been the global industry sales
leader since 1931.  Founded in 1908, GM employs about 317,000
people around the world.  It has manufacturing operations in 32
countries and its vehicles are sold in 200 countries.

                           *     *     *

As reported in the Troubled Company Reporter on July 28, 2006,
Standard & Poor's Ratings Services held all of its ratings on
General Motors Corp. -- including the 'B' corporate credit rating,
but excluding the '1' recovery rating -- on CreditWatch with
negative implications, where they were placed March 29, 2006.

As reported in the Troubled Company Reporter on July 27, 2006,
Dominion Bond Rating Service downgraded the long-term debt ratings
of General Motors Corporation and General Motors of Canada Limited
to B.  The commercial paper ratings of both companies are also
downgraded to R-3 (low) from R-3.

As reported in the Troubled Company Reporter on June 22, 2006,
Fitch assigned a rating of 'BB' and a Recovery Rating of 'RR1' to
General Motor's new $4.48 billion senior secured bank facility.
The 'RR1' is based on the collateral package and other protections
that are expected to provide full recovery in the event of a
bankruptcy filing.

As reported in the Troubled Company Reporter on June 21, 2006,
Moody's Investors Service assigned a B2 rating to the secured
tranches of the amended and extended secured credit facility of up
to $4.5 billion being proposed by General Motors Corporation,
affirmed the company's B3 corporate family and SGL-3 speculative
grade liquidity ratings, and lowered its senior unsecured rating
to Caa1 from B3.  The rating outlook is negative.


GENOA HEALTHCARE: Moody's Assigns Loss-Given-Default Ratings
------------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the U.S. Hospital and Long-term Care sectors, the
rating agency confirmed its B2 Corporate Family Rating for Genoa
Healthcare Group, LLC.

Additionally, Moody's revised or held its probability-of-default
ratings and assigned loss-given-default ratings on these loans and
bond debt obligations:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
   $20 Million
   Senior Secured
   Revolving Credit
   Facility due 2010      B2       Ba3     LGD2       27%

   $90 Million
   Senior Secured
   First Lien Term
   Loan due 2012          B2       Ba3     LGD2       27%

   $50 Million
   Senior Secured
   Second Lien Term
   Loan due 2013         Caa1     Caa1     LGD5       78%

Moody's explains that current long-term credit ratings are
opinions about expected credit loss, which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

Headquartered in Tampa, FL, Genoa Healthcare Group, LLC, through
its subsidiaries, provides skilled nursing, medically complex and
specialty healthcare services in 61 skilled nursing facilities
throughout the state of Florida comprising approximately 7,500
beds.  The company also provides consulting and administrative
services to an additional 66 facilities in 16 states and the
District of Columbia through contractual arrangements.


GEORGIA STORAGE: Case Summary & Largest Unsecured Creditor
----------------------------------------------------------
Debtor: Georgia Storage, LLC
        dba Mike's U Storall
        225 Bernside Court
        Alpharetta, GA 30022-5197

Bankruptcy Case No.: 06-72530

Type of Business: The Debtor operates a climate-controlled storage
                  facility.  See http://www.mikesustorall.com/

Chapter 11 Petition Date: October 3, 2006

Court: Northern District of Georgia (Atlanta)

Judge: Joyce Bihary

Debtor's Counsel: Robert D. Schwartz, Esq.
                  Charlton & Glover, P.C.
                  87 Vickery Street
                  Roswell, GA 30075
                  Tel: (770) 993-1005
                  Fax: (770) 993-9672

Estimated Assets: $1 Million to $10 Million

Estimated Debts:  $1 Million to $10 Million

Debtor's Largest Unsecured Creditor:

   Entity                        Nature of Claim   Claim Amount
   ------                        ---------------   ------------
Hamilton Title Co.               Loans                 $550,000
Profit Sharing Plan
c/o Merrill Lynch
333 North Point Center E
Alpharetta, GA 30022-8297


GGNSC HOLDINGS: Moody's Assigns Loss-Given-Default Ratings
----------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the U.S. Hospital and Long-term Care sectors this
week, the rating agency confirmed its B2 Corporate Family Rating
for GGNSC Holdings, LLC.

Additionally, Moody's revised or held its probability-of-default
ratings and assigned loss-given-default ratings of the Company's
subsidiary, Golden Gate National Senior Care, LLC, on loans and
bond debt obligations:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
   Senior Secured
   Revolving Credit
   Facility due 2011      B1       Ba3     LGD2       26%

   Senior Secured
   First Lien Term
   Loan due 2011          B1       Ba3     LGD2       26%

   Senior Secured
   Second Lien Term
   Loan due 2011         Caa1      B3      LGD4       68%

Moody's explains that current long-term credit ratings are
opinions about expected credit loss, which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).


GREAT ATLANTIC: Moody's Confirms B3 Corporate Family Rating
-----------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the U.S. and Canadian Retail sector, the rating
agency confirmed its B3 Corporate Family Rating for The Great
Atlantic & Pacific Tea Company, Inc.  Additionally, Moody's
revised or held its probability-of-default ratings and assigned
loss-given-default ratings on these loans and bond debt
obligations:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
   Senior Unsecured
   Notes                  Caa1     Caa1    LGD5        73%

   Multi-Seniority Shelf
   Senior Unsecured       Caa1     Caa1    LGD5        73%

   Multi-Seniority Shelf
   Senior Subordinated    Caa2     Caa2    LGD6        96%

   Multi-Seniority Shelf
   Junior Subordinated    Caa2     Caa2    LGD6        97%

   Multi-Seniority Shelf
   Preferred Stock        Caa3     Caa2    LGD6        97%

Moody's explains that current long-term credit ratings are
opinions about expected credit loss, which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's
alpha-numeric scale.  They express Moody's opinion of the
likelihood that any entity within a corporate family will default
on any of its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

Founded in 1859, The Great Atlantic & Pacific Tea Company, Inc.,
-- http://www.aptea.com/-- is one of the nation's first
supermarket chains.  The Company operates 405 stores in 9 states
and the District of Columbia under the following trade names: A&P,
Waldbaum's, The Food Emporium, Super Foodmart, Super Fresh, Farmer
Jack, Sav-A-Center and Food Basics.


GROWTH GROUP: Case Summary & Two Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Growth Group, Inc.
        103 North Kaufman Street, Suite 5B
        Seagoville, TX 75153

Bankruptcy Case No.: 06-34301

Chapter 11 Petition Date: October 3, 2006

Court: Northern District of Texas (Dallas)

Debtor's Counsel: Mark A. Castillo, Esq.
                  The Curtis Law Firm, P.C.
                  901 Main Street, Suite 6515
                  Dallas, TX 75202
                  Tel: (214) 752-2222
                  Fax: (214) 752-0709

Estimated Assets: $1 Million to $100 Million

Estimated Debts:  $100,000 to $1 Million

Debtor's Two Largest Unsecured Creditors:

   Entity                              Claim Amount
   ------                              ------------
City of Seagoville                           $2,246
702 North Highway 175
Seagoville, TX 75159

TXU Energy                                     $358
P.O. Box 227097
Dallas, TX 75222-7097


HEALTHESSENTIALS SOLUTIONS: Court Confirms Plan of Liquidation
--------------------------------------------------------------
The Hon. Joan Cooper of the U.S. Bankruptcy Court for the Western
District of Kentucky has confirmed HealthEssentials Solutions,
Inc. and its debtor-affiliates' Amended Plan of Liquidation.

The Court determined that the Plan satisfies the 13 requirements
for confirmation stated in Section 1129(a) of the Bankruptcy Code.

Business First of Louisville reports that the bulk of the
liquidation proceeds, composed primarily of $16 million from the
September 2005 sale of the Debtor's home-health business, will be
paid to its largest creditor and primary lender CIT Healthcare
LLC.  The Debtor owes CIT approximately $11.5 million.

Other creditors will receive a portion of their claims under the
liquidation plan.

Pursuant to the Plan, Martin Fletcher will serve as a plan
administrator to carry out the liquidation plan and Steven Sass,
as creditors trustee, to distribute the remaining assets and
pursue lawsuits on behalf of the creditors.

A full-text copy of the Company's Amended Chapter 11 Plan of
Liquidation is available for a fee at:

  http://www.researcharchives.com/bin/download?id=061003224749

Headquartered in Louisville, Kentucky, HealthEssentials Solutions,
Inc. -- http://www.healthessentialsinc.com/-- provides primary
care services to elderly patients.  The Company, along with eight
subsidiaries, filed for chapter 11 protection on March 1, 2005
(Bankr. W.D. Ky. Case No. 05-31218 through 05-31226).  Douglas L.
Lutz, Esq., and Ronald E. Gold, Esq., at Frost Brown Todd LLC,
represent the Debtors in their restructuring efforts.  When the
Debtors filed for protection from their creditors, they listed
$35,384,953 in total assets and $40,785,376 in total debts.


HEALTHSOUTH CORP: Moody's Assigns Loss-Given-Default Rating
-----------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the U.S. Hospital and Long-term Care sectors this
week, the rating agency confirmed its B3 Corporate Family Rating
for HealthSouth Corporation.

Additionally, Moody's revised or held its probability-of-default
ratings and assigned loss-given-default ratings on these loans and
bond debt obligations:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
   Senior Secured
   Revolving Credit
   Facility due 2012      B2       B2      LGD3       36%

   Senior Secured
   Term Loan due 2013     B2       B2      LGD3       36%

   10.75% Senior
   Unsecured
   Notes due 2013         B3      Caa1     LGD5       72%

   Senior Unsecured
   Floating Rate
   Notes                  B3      Caa1     LGD5       72%

Moody's explains that current long-term credit ratings are
opinions about expected credit loss, which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

Headquartered in Birmingham, Alabama, HealthSouth provides
outpatient surgery, diagnostic imaging and rehabilitative
healthcare services.


HENRY EPPS: Voluntary Chapter 11 Case Summary
---------------------------------------------
Debtor: Henry Epps, Jr.
        P.O. Box 186
        Dudley, GA 31022

Bankruptcy Case No.: 06-30467

Chapter 11 Petition Date: October 2, 2006

Court: Southern District of Georgia (Dublin)

Judge: Susan D. Barrett

Debtor's Counsel: Calvin Jackson, Esq.
                  Calvin Jackson, P.C.
                  1259 Russell Parkway, Suite T
                  P.O. Box 7221
                  Warner Robins, GA 31095-7221
                  Tel: (478) 923-9611
                  Fax: (478) 923-1795

Estimated Assets: Unknown

Estimated Debts:  $1 Million to $10 Million

The Debtor did not file a list of its 20 largest unsecured
creditors.


HINES NURSERIES: Moody's Assigns Loss-Given-Default Ratings
-----------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the US Consumer Products, Beverage, Toy, Natural
Product Processors, Packaged Food Processors and Agricultural
Cooperative sectors, the rating agency confirmed its B3 Corporate
Family Rating for Hines Nurseries, Inc.

Additionally, Moody's revised its probability-of-default ratings
and assigned loss-given-default ratings on these loans and bond
debt obligations:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
   $100 million
   Senior Secured
   Revolver             B2       Ba3        LGD2    12%

   $175 million
   Sr. Unsecured
   Bonds                Caa2     Caa1       LGD4    68%

Moody's explains that current long-term credit ratings are
opinions about expected credit loss, which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

Headquartered in Irvine, California, Hines Nurseries, Inc.
is a commercial nursery operator in the United States.  The
company's 13 strategically located nurseries produce approximately
5,500 plan varieties and serve 8,000 retail and commercial
customer locations.  Hines is a wholly owned subsidiary of Hines
Horticulture, Inc, which in turn is 53.4% owned by affiliates of
Madison Dearborn Partners.


HRP MYRTLE: Moody's Assigns Loss-Given-Default Ratings to 2 Notes
-----------------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the Gaming, Lodging & Leisure sector, the rating
agency raised HRP Myrtle Beach Operations, LLC's Caa1 Corporate
Family Rating to B3.

Additionally, Moody's downgraded or confirmed its probability-of-
default ratings and assigned loss-given-default ratings on these
notes:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
Sr. Secured Floating
Notes Due 2012            B3       B2      LGD3        41%

Jr. Secured Notes
Due 2013                 Caa2     Caa2     LGD5        85%

Moody's current long-term credit ratings are opinions about
expected credit loss, which incorporate both the likelihood of
default and the expected loss in the event of default.

The LGD rating methodology will disaggregate these two key
assessments in long-term ratings.  The LGD rating methodology will
also enhance the consistency in Moody's notching practices across
industries and will improve the transparency and accuracy of
Moody's ratings as its research has shown that credit losses on
bank loans have tended to be lower than those for similarly rated
bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% - 9%) to
LGD6 (loss anticipated to be 90% - 100%).

HRP Myrtle Beach Operations, LLC, a Delaware limited liability
company, is designing, developing, constructing, financing and
equipping and will own and operate Hard Rock Park, an
approximately 140-acre rock and roll themed park in Myrtle Beach,
South Carolina, under a license agreement with Hard Rock
International.  Hard Rock International, Inc., owned by The Rank
Group Plc, operates 122 Hard Rock Cafes and 13 Hard Rock Hotels
and Casinos in more than 42 countries.


IASIS HEALTHCARE: Moody's Assigns Loss-Given-Default Rating
-----------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the U.S. Hospital and Long-term Care sectors this
week, the rating agency confirmed its B1 Corporate Family Rating
for IASIS Healthcare LLC.

Additionally, Moody's revised or held its probability-of-default
ratings and assigned loss-given-default ratings on these loans and
bond debt obligations:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
   $250 Million
   Senior Secured
   Revolving Credit
   Facility due 2010      B1       Ba2     LGD2       23%

   $425 Million
   Senior Secured
   Term Loan due 2011     B1       Ba2     LGD2       23%

   8.75% Senior
   Subordinated
   Notes due 2014         B3       B3      LGD5       78%

Moody's explains that current long-term credit ratings are
opinions about expected credit loss, which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
umeric scale.  They express Moody's opinion of the likelihood that
any entity within a corporate family will default on any of its
debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

IASIS Healthcare, located in Franklin, Tennessee, is an owner
operator of medium sized acute care hospitals in high growth urban
and suburban markets.  IASIS operates 14 acute care hospitals and
one behavioral health hospital with a total of 2,228 beds in
service.  IASIS also operates a Medicaid managed health plan in
Phoenix that serves over 113,000 members.


IMC INVESTMENT: Taps Powell Goldstein as General Counsel
--------------------------------------------------------
IMC Investment Properties, Inc., asks the U.S. Bankruptcy Court
for the Northern District of Texas for permission to employ Powell
Goldstein LLP as its general counsel.

Powell Goldstein will:

    (a) take all necessary action to protect and preserve the
        Debtor's estate, including the prosecution of actions on
        its behalf, the defense of any actions commenced against
        it, negotiations concerning all litigation in which it is
        involved, and objecting to claims;

    (b) prepare on behalf of the Debtor all necessary motions,
        applications, answers, orders, reports, and papers in
        connection with the administration of the Debtor's estate;

    (c) formulate, negotiate, and propose a plan of
        reorganization;

    (d) perform all other necessary legal services in connection
        with the Debtor's bankruptcy proceedings.

The Debtor tells the Court that Keith Miles Aurzada, Esq., a
partner at Powell Goldstein, will bill at $350 per hour in this
engagement.  Guadalupe M. Rojas, a paraprofessional, will also
render his services and will bill at $85 per hour.

Mr. Auzarda assures the Court that his firm does not hold or
represent any interest adverse to the Debtor or its estate.

Mr. Auzarda can be reached at:

         Keith Miles Aurzada, Esq.
         Powell Goldstein LLP
         JP Morgan Chase Tower - Suite 3200
         2200 Ross Avenue
         Dallas, TX 75201
         Tel: (214) 721-8000
         Fax: (214) 721-8100
         http://www.pogolaw.com/

Headquartered Dallas, Texas, IMC Investment Properties, Inc.,
filed for chapter 11 protection on July 3, 2006 (Bankr. N.D. Tex.
Case No. 06-32754).  Edwin Paul Keiffer, Esq., at Hance
Scarborough Wright Ginsberg and Brusilow, LLP, represents the
Debtor in its restructuring efforts.  When the Debtor filed for
protection from its creditors, it estimated assets and debts
between $10 million and $50 million.


INGLES MARKETS: Moody's Assigns LGD5 Loss-Given-Default Rating
--------------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the U.S. and Canadian Retail sector, the rating
agency confirmed its B1 Corporate Family Rating for Ingles
Markets, Incorporated, and its B3 rating on the company's Senior
Subordinated Global Notes.  Additionally, Moody's assigned an LGD5
rating to the Notes, suggesting noteholders will experience an 80%
loss in the event of a default.

Moody's explains that current long-term credit ratings are
opinions about expected credit loss which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's
alpha-numeric scale.  They express Moody's opinion of the
likelihood that any entity within a corporate family will default
on any of its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

Headquartered in Asheville, North Carolina, Ingles Markets,
Incorporated, operates 197 supermarkets principally in Georgia,
North Carolina, South Carolina, and Tennessee.


INSIGHT COMMS: Fitch Rates Proposed $2.575 Billion Facility at BB+
------------------------------------------------------------------
Fitch Ratings affirmed the 'B+' Issuer Default Rating assigned to
Insight Communications Company, Inc., Insight Midwest, LP, and
Insight Midwest Holdings, LLC.

In addition Fitch assigned a 'BB+' rating and 'RR1' recovery
rating to Insight Midwest Holdings, LLC's proposed $2.575 billion
senior secured credit facility.

Fitch also affirmed specific issue ratings and recovery ratings to
debt issued by Insight Midwest, LP and Insight.  The Rating
Outlook for all of Insight's ratings is Stable.

Approximately $2.7 billion of debt as of June 30, 2006, is
affected by Fitch's actions.

Insight Midwest Holdings, LLC is a wholly owned subsidiary of
Insight Midwest, LP.  Insight owns a 50% interest in Insight
Midwest, LP while subsidiaries of Comcast Corporation own the
remaining 50% interest.

Fitch expects that proceeds from the $2.575 billion credit
facility, which includes a $350 million revolver, a seven-year
$500 million term loan A and a 7.5-year $1.725 billion term loan
B, will be used to:

   * refinance the existing credit facility at Insight Midwest
     Holdings, LLC;

   * redeem in full the 10.5% senior unsecured notes due 2010; and

   * redeem $185 million of the 9.75% senior unsecured notes due
     2009 issued by Insight Midwest, LP.

The refinancing will materially increase the proportion of senior
secured debt within Insight's debt structure while nominally
increasing overall indebtedness.

From Fitch's prospective, however, the new credit facility is
positive for Insight's overall credit profile as the new credit
facility increases the borrowing capacity under the revolver,
extends final maturities from 2009 to 2012 and 2013, and reduces
scheduled mandatory amortization through 2008 by approximately
$230 million.

Overall, Fitch's ratings for Insight reflect the operating
advantages and cost synergies derived from the company's
technologically upgraded network and its tightly clustered cable
systems, which primarily operate in the states of Kentucky,
Indiana, Illinois, and Ohio.

Fitch's ratings are also indicative of Insight's high leverage
relative to its cable peer group, and the increasing business risk
attributable to Insight's credit profile stemming from the
persistent competitive threat from DBS operators and the
increasing likelihood that incumbent telephone companies will
enter the video business, further elevating competitive pressures.

These competitive factors heighten the importance of Insight's
planned voice over Internet protocol telephony service launch that
is expected to take place during the remainder of 2006 and early
into 2007.

From Fitch's perspective the complete introduction (Insight
provides circuit switched telephony service to approximately
871,000 homes as of June 30, 2006) of telephony service is
critical for Insight to maintain the positive subscriber metric
momentum and to enhance its competitive position relative to the
DBS operators and incumbent telephone companies.

The uncertainty surrounding the long-term existence of Insight's
partnership with Comcast presents event, business, and refinancing
risk to investors.  At any time after Dec. 31, 2005, either
partner can elect to terminate the Insight Midwest, LP
partnership.

Insight would emerge from the dissolution of the Insight Midwest
partnership as a much smaller MSO operating with approximately 1.2
million RGUs and without the operating cost advantages afforded to
Insight through its partnership with Comcast.  While the new bank
agreement contains provisions to survive the dissolution of the
Insight Midwest partnership, bondholders can be exposed to
refinancing risks depending on the structure of the exit event.

Post the dissolution of the partnership, Fitch expects that
Insight's credit profile will be more leveraged than the current
capital structure.

After generating approximately $116 million of free cash flow
during 2004 and $76 million during 2005 (after adjusting for
privatization costs), Fitch does not expect Insight to generate
free cash flow during 2006.  The lack of free cash flow generation
is attributable to higher capital expenditures related to the
positive subscriber growth the company has experienced over the
last four quarters, infrastructure investments to prepare the
cable plant for telephone service launch, and higher interest
expense costs.

Fitch expects Insight to generate a nominal amount of free cash
flow in 2007.  However, to position the company to generate free
cash flow in 2007, Fitch believes that Insight will need to
continue to grow advanced digital video products and its high-
margin high speed data product as well as gain scale within its
telephony business and temper the increase in capital
expenditures.

From Fitch's perspective, Insight's liquidity position is adequate
when considering the increased amount of borrowing capacity under
the company's new $350 million revolver and the lack of scheduled
amortization under the term loan facilities through the third
quarter of 2008.  No other debt is scheduled to mature until 2009.

The Stable Outlook reflects Insight's solid liquidity position as
well as Fitch's expectation that the company is well positioned to
generate EBITDA growth and sustainable free cash flow.  Growth in
the company's core video products and high-margin, high-speed data
products is expected to drive EBITDA growth over the near term.

Fitch anticipates that EBITDA growth will be tempered somewhat due
to the launch of VoIP service throughout the company's service
territory.  However, the telephony launch and the related triple
play offering across Insight's service area can provide it with
the foundation for further EBITDA and free cash flow growth and
subscriber base stabilization.

Fitch would view negatively a worsening of basic subscriber
trends, slower than expected rollout of the company's VoIP cable
telephony service, or a material slowdown to the pace of high-
speed data subscribers.

Fitch affirmed these:

  Insight Communications Company, Inc.

    -- Issuer Default Rating 'B+'
    -- Senior Unsecured Notes 'CCC+/RR6'

  Insight Midwest, LP:

    -- IDR 'B+'
    -- Senior unsecured notes 'B+/RR4'

Fitch rated this:

  Insight Midwest Holdings, LLC.:

    -- Senior secured credit facility 'BB+/RR1'


INSIGHT HEALTH: S&P Lowers Corporate Credit Rating to B-
--------------------------------------------------------
Standard & Poor's Ratings Services lowered its credit ratings
on Insight Health Services Corp.; the corporate credit rating
was lowered to 'B-' from 'B'.  The rating outlook is negative.

"The rating downgrade reflects continuing deterioration in the
company's financial performance," noted Standard & Poor's credit
analyst Cheryl Richer.

Adjusted EBITDA for fiscal 2006 has declined 24% from 2004 levels.
Although InSight currently has adequate liquidity ($28 million of
cash, almost full availability on its $30 million revolving credit
facility, and positive free cash flow for 2006), it will need to
conserve cash prospectively and will be escalating its use of
equipment lease financing, which will increase leverage.

The company has indicated (per its SEC Form 10-K) that it might
have difficulty in funding future capital projects depending on
the severity of the anticipated negative EBITDA trend.  New
management, now at the helm for a little over a year, has had
little success thus far in stemming either revenue erosion or
rising costs.

Medicare reimbursement reductions, scheduled to become effective
in January 2007 per the Deficit Reduction Act, will challenge the
company to improve cash flow generating ability.

The rating on InSight reflects the highly fragmented and
competitive nature of the medical imaging industry, the limited
barriers to competitor entry, and reimbursement risk.

As a result of the negative financial trend over the past eight
fiscal quarters, with no immediate prospects for a reversal, the
company is taking a $191 million impairment charge in fiscal 2006
(ended June 30, 2006).

Notwithstanding the write-off, the company's balance sheet is
weak: Debt to EBITDA is currently about 6.5x.  These risks
overshadow the favorable effect on the industry as the population
ages, the ability of imaging to limit overall health costs, and
the expanded approval of imaging for additional disease states.


INTEREP NATIONAL: Moody's Assigns Loss-Given-Default Rating
-----------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the US advertising and broadcasting sector, the
rating agency affirmed its Ca rating on Interep National Sales
Radio, Inc.'s 10.0% senior subordinated notes due 2008.
Additionally, Moody's assigned an LGD4 rating to the notes
suggesting noteholders will experience a 56% loss in the event of
a default.

Moody's explains that current long-term credit ratings are
opinions about expected credit loss, which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

Interep National Sales Radio, Inc. --
http://http://www.interep.com/-- is an independent advertising
sales and marketing company specializing in radio, the Internet,
television and complementary media, with offices in 17 cities.
Interep is the parent company to the following radio
representation firms: ABC Radio Sales, D&R Radio, CBS Radio Sales,
Cumulus Major Market Sales, McGavren Guild Radio and SBS/Interep.
Interep is also parent to Azteca America Spot Television Sales and
Interep Interactive, including Winstar Interactive.


INTERSTATE BAKERIES: Commences Preferential Avoidance Actions
-------------------------------------------------------------
Interstate Bakeries Corporation and its debtor-affiliates ask the
U.S. Bankruptcy Court for the Western District of Missouri to
avoid about 370 transfers made to certain vendors as preferential
transfers and direct the vendors to immediately return the
Transfers, plus interest and costs.

The Debtors also ask the Court to award them costs in commencing
the Complaint.

According to Paul M. Hoffmann, in Stinson Morrison Hecker LLP, in
Kansas City Missouri, the Debtors made certain payments and
transfers to the vendors during the 90-day period before they
filed for bankruptcy.

The Transfers were made from the property of the Debtors for or
on the account of an antecedent debt allegedly owed by the
Debtors to the Vendors, Mr. Hoffmann relates.  Moreover, the
Transfers were made while the Debtors were insolvent.

The Transfers enabled the Vendors to receive more than they would
have received if the Transfers had not been made, Mr. Hoffmann
contends.

The Debtors assert that the Transfers were preferential in nature
and are thus, avoidable pursuant to Section 547 of the Bankruptcy
Code.

A nine-page list of the Defendants is available for free
at http://ResearchArchives.com/t/s?12d1

Headquartered in Kansas City, Missouri, Interstate Bakeries
Corporation is a wholesale baker and distributor of fresh baked
bread and sweet goods, under various national brand names,
including Wonder(R), Hostess(R), Dolly Madison(R), Baker's Inn(R),
Merita(R) and Drake's(R). The Company employs approximately
32,000 in 54 bakeries, more than 1,000 distribution centers and
1,200 thrift stores throughout the U.S. The Company and seven of
its debtor-affiliates filed for chapter 11 protection on
September 22, 2004 (Bankr. W.D. Mo. Case No. 04-45814). J. Eric
Ivester, Esq., and Samuel S. Ory, Esq., at Skadden, Arps, Slate,
Meagher & Flom LLP, represent the Debtors in their restructuring
efforts. When the Debtors filed for protection from their
creditors, they listed $1,626,425,000 in total assets and
$1,321,713,000 (excluding the $100,000,000 issue of 6.0% senior
subordinated convertible notes due August 15, 2014 on August 12,
2004) in total debts. (Interstate Bakeries Bankruptcy News, Issue
No. 48; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


INTERSTATE BAKERIES: ABA Trustees, et al. Seek to Remove Reference
------------------------------------------------------------------
The Board of Trustees of the American Bakers Association
Retirement Plan and Trust, Sara Lee Corporation, and Chicago
Baking Company ask the U.S. District Court for the Western
District of Missouri to withdraw the reference of the Debtors'
Adversary Complaint from the Bankruptcy Court to the extent:

   -- it seeks an enforcement of the 2006 Pension Benefit
      Guaranty Corporation Letter; or

   -- it seeks a determination by the Bankruptcy Court as to the
      status of the ABA Plan or the rights of non-debtor parties
      under the ABA Plan documents.

Mark T. Benedict, Esq., at Husch & Eppenberger, LLC, in Kansas
City, Missouri, counsel to the ABA Plan Trustees, asserts that
the mandatory provisions of Section 157(d) of the Judiciary and
Judicial Procedures Code require the District Court to withdraw
the reference of the Adversary Complaint because the Action
requires consideration of the Employee Retirement Income Security
Act laws.

Mr. Benedict contends that cause exists for a permissive
withdrawal of the reference of the Adversary Complaint:

   1. The Debtors' request for injunctive relief that would
      require the ABA Plan Trustees to administer the Plan in
      accordance with the 2006 PBGC Letter is a non-core matter;

   2. The Adversary Complaint seeks an injunction, which is
      wholly an equitable remedy, not a legal remedy.  The
      Debtors seek the remedy not only against the ABA Plan but
      also on other Participating Employers who are strangers to
      the Debtors' bankruptcy case;

   3. The Bankruptcy Court may not enter final orders in the
      Adversary Complaint since the ERISA issues are non-core
      proceedings;

   4. The ERISA venue statute would ordinarily require action
      against the ABA Plan to be brought in Washington, D.C.,
      where the ABA Plan is administered, as noted by the PBGC at
      the August 9, 2006, Hearing; and

   5. The Debtors' request for injunctive relief does not concern
      the application of bankruptcy laws.  Instead, it concerns
      the applications of ERISA laws.

"In addition to non-core jurisdiction," John W. McClelland, Esq.,
at Armstrong Teasdale, LLP, in Kansas City, Missouri, relates
that "courts consider the goals of promoting uniformity in
bankruptcy administration, reducing forum shopping and confusion,
fostering the economical use of the debtors' and creditors'
resources, and expediting the bankruptcy process in evaluating
whether there is cause to withdraw the reference."

Mr. McClelland notes that the Debtors' Adversary Complaint
essentially raises the same legal issues as the action Sara Lee
commenced in the U.S. District Court for the District of
Columbia.  The Debtors' decision to initiate their Adversary
Complaint while the D.C. Action is pending is clearly an attempt
to forum shop, particularly after their failed attempt to stay
the D.C. Action before the Bankruptcy Court, Mr. McClelland says.

If the reference is not withdrawn, Mr. McClelland avers, the
parties will suffer an additional and unnecessary layer of
judicial review and a duplication of efforts before the District
Court.  The parties may suffer inconsistent results if the issues
are addressed preliminarily by the Bankruptcy Court and later
reversed by the District Court, Mr. McClelland continues.
Because withdrawal of the reference would eliminate that
duplication, it fosters the economic use of bankruptcy estate
resources.

                   Abstain Judgment on ABA Plan,
                 ABA Trustees Urge Bankruptcy Court

By commencing the Adversary Complaint in the Bankruptcy Court,
the Debtors sought another forum to make a determination of the
ABA Plan's status, Mr. Benedict points out.  As a result, the
Debtors waived the protection of the automatic stay with respect
to the ERISA disputes.  Thus, the Debtors cannot use the
automatic stay now both a shield and a sword to prevent the ABA
Plan Trustees from seeking review of the PBGC determination in a
court of competent jurisdiction, Mr. Benedict argues.

Mr. Benedict maintains that the proper jurisdiction with respect
to ERISA disputes is the D.C. District Court since that is where
the ABA Plan is administered.

Accordingly, ABA Plan Trustees ask the Bankruptcy Court to:

   (a) abstain from determining the allocation of the ABA Plan's
       assets and liabilities among the participating employers,
       through the enforcement of the PBGC letter to allow them
       to pursue, in a court of competent jurisdiction, the ERISA
       disputes;

   (b) declare that they are not stayed from obtaining, in a
       court of competent jurisdiction, a final determination of
       the nature of the ABA Plan and the rights of the parties
       under the ABA Plan document; or

   (c) lift the automatic stay to allow them to obtain, in a
       court of competent jurisdiction, a final determination of
       the nature of the ABA Plan and the rights of the parties
       under the ABA Plan document.

           ABA Trustees, et al. Seek to Stay Proceedings

The ABA Plan Trustees and Sara Lee ask the Bankruptcy Court to
stay all proceedings related to the Adversary Complaint and the
Objection to the ABA Plan's proof of claim pending rulings on
their Motion to Withdraw Reference, Motion to Abstain and Lift
Stay Motion.

"It is of primary importance to first determine the appropriate
forum for the dispute before forcing all of the parties to spend
their time and resources prosecuting, defending and otherwise
litigating these issues," Mr. Benedict emphasizes.

Moreover, the ABA Plan Trustees believe that either the
Bankruptcy Court or the District Court will decide very quickly
whether the ERISA Dispute will continue in the Bankruptcy Court.
Thus, the proposed stay is likely of short duration, Mr. Benedict
says.

In the alternative, the ABA Plan Trustees ask the Bankruptcy Court
to extend the deadlines for the Defendants to file substantive
responses to the Adversary Proceeding and Claim Objection.

             Five Defendants Seek to Dismiss Complaint

Five entities ask the Bankruptcy Court to dismiss the Debtors'
Adversary Complaint:

   * Ozark Empire Distributors, Inc., dba Harris Baking Company,
   * Eagle Snacks, Inc.,
   * Flowers Food Bakeries Group, LLC, aka Flowers Bakeries,
   * Flowers Baking Co. of Houston, aka Schotts Bakery, Inc., and
   * Flowers Baking Co. of Pine Bluff, LLC, aka Holsum Baking Co.

The Entities have been named defendants in the Adversary
Complaint.

The Entities assert that the Adversary Complaint did not contain
sufficient information for them to affirm or deny the Debtors'
allegations.

On behalf of the Flowers Entities, Kurt D. Williams, Esq., at
Berkowitz, Oliver, Williams, Shaw & Eisenbrandt, LLP, in Kansas
City, Missouri, argues that the Debtors' allegations may be
barred by the applicable statute of limitations, waiver, estoppel,
ratification, acquiescence and doctrine of laches.

Flowers Bakeries maintains that it is not a proper defendant in
the Lawsuit because it is not and was not, at any time, a
participant in the ABA Plan.

Eagle Snacks asks the Bankruptcy Court to extend the time for it
to respond to the Adversary Complaint until Oct. 16, 2006.

The Entities further ask the Bankruptcy Court to award them with
attorneys' fees and costs incurred in defending the Adversary
Complaint.  They reserve their right to amend their responses
based on discovery they can obtain in the future.

Headquartered in Kansas City, Missouri, Interstate Bakeries
Corporation is a wholesale baker and distributor of fresh baked
bread and sweet goods, under various national brand names,
including Wonder(R), Hostess(R), Dolly Madison(R), Baker's Inn(R),
Merita(R) and Drake's(R). The Company employs approximately
32,000 in 54 bakeries, more than 1,000 distribution centers and
1,200 thrift stores throughout the U.S. The Company and seven of
its debtor-affiliates filed for chapter 11 protection on
September 22, 2004 (Bankr. W.D. Mo. Case No. 04-45814). J. Eric
Ivester, Esq., and Samuel S. Ory, Esq., at Skadden, Arps, Slate,
Meagher & Flom LLP, represent the Debtors in their restructuring
efforts. When the Debtors filed for protection from their
creditors, they listed $1,626,425,000 in total assets and
$1,321,713,000 (excluding the $100,000,000 issue of 6.0% senior
subordinated convertible notes due August 15, 2014 on August 12,
2004) in total debts. (Interstate Bakeries Bankruptcy News, Issue
No. 48; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


INTERSTATE BAKERIES: Wants Hilco as Business Asset Appraiser
------------------------------------------------------------
Pursuant to Sections 327 and 328 of the Bankruptcy Code,
Interstate Bakeries Corporation and its debtor-affiliates seek
authority from the U.S. Bankruptcy Court for the Western District
of Missouri to employ Hilco Appraisal Services, LLC, as their
business asset appraisal consultants.

The Debtors have determined that the size of their operations
requires them to employ experienced business asset appraisers to
render professional services in connection with their Chapter 11
cases.

The Debtors believe that Hilco possesses the requisite resources
and is well qualified to provide the services that will be
required.  The Debtors note that Hilco has extensive and diverse
experience, knowledge and reputation in the appraisal field, as
well as an understanding of the issues involved in the Debtors'
cases.

To assist the Debtors in evaluating their exit financing options,
Hilco will perform an appraisal of:

   -- the Debtors' machinery & equipment, including on-site
      inspection at several of the Debtors' facilities, to
      provide an opinion of forced liquidation value, net forced
      liquidation value, orderly liquidation value and net
      orderly liquidation value;

   -- the Debtors' titled vehicle fleet, to provide an opinion of
      forced liquidation value, net forced liquidation value,
      orderly liquidation value and net orderly liquidation
      value; and

   -- the Debtors' inventory to provide an opinion of gross and
      net orderly liquidation value, which will include modeling
      the build-out of applicable work-in-process inventory to a
      finished good state.

In consideration for the contemplated services to be rendered,
the Debtors will pay Hilco $380,000, plus normal and customary
travel expenses.  The payment is due upon completion of the
services.

Arn Dratt, chief executive officer of Hilco, assures the Court
that his firm does not hold or represent any interest materially
adverse to the Debtors or to their estates, and is a
"disinterested person" as that term is defined under Section
101(14) of the Bankruptcy Code.

Headquartered in Kansas City, Missouri, Interstate Bakeries
Corporation is a wholesale baker and distributor of fresh baked
bread and sweet goods, under various national brand names,
including Wonder(R), Hostess(R), Dolly Madison(R), Baker's Inn(R),
Merita(R) and Drake's(R). The Company employs approximately
32,000 in 54 bakeries, more than 1,000 distribution centers and
1,200 thrift stores throughout the U.S. The Company and seven of
its debtor-affiliates filed for chapter 11 protection on
September 22, 2004 (Bankr. W.D. Mo. Case No. 04-45814). J. Eric
Ivester, Esq., and Samuel S. Ory, Esq., at Skadden, Arps, Slate,
Meagher & Flom LLP, represent the Debtors in their restructuring
efforts. When the Debtors filed for protection from their
creditors, they listed $1,626,425,000 in total assets and
$1,321,713,000 (excluding the $100,000,000 issue of 6.0% senior
subordinated convertible notes due August 15, 2014 on August 12,
2004) in total debts. (Interstate Bakeries Bankruptcy News, Issue
No. 48; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


ISLE OF CAPRI: Moody's Assigns Loss-Given-Default Ratings
---------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the Gaming, Lodging & Leisure sector, the rating
agency downgraded Isle of Capri Black Hawk L.L.C.'s Corporate
Family Rating to B2 from B1.

Additionally, Moody's confirmed its probability-of-default ratings
and assigned loss-given-default ratings on these debts:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
Sr. Secured Revolver      B1       B1      LGD3        34%

Sr. Secured Term Loan     B1       B1      LGD3        34%

Moody's current long-term credit ratings are opinions about
expected credit loss, which incorporate both the likelihood of
default and the expected loss in the event of default.

The LGD rating methodology will disaggregate these two key
assessments in long-term ratings.  The LGD rating methodology will
also enhance the consistency in Moody's notching practices across
industries and will improve the transparency and accuracy of
Moody's ratings as its research has shown that credit losses on
bank loans have tended to be lower than those for similarly rated
bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% - 9%) to
LGD6 (loss anticipated to be 90% - 100%).

Isle of Capri Black Hawk, L.L.C., is a 57% wholly owned,
unrestricted subsidiary of Isle of Capri Casinos, Inc. (Ba3/On
review for possible downgrade) Nevada Gold & Casinos, Inc., owns
the remaining 43% ownership interest in ICBH.


JACOBS ENTERTAINMENT: Moody's Assigns Loss-Given-Default Ratings
----------------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the Gaming, Lodging & Leisure sector, the rating
agency confirmed Jacobs Entertainment, Inc.'s B2 Corporate Family
Rating.

Additionally, Moody's revised or confirmed its probability-of-
default ratings and assigned loss-given-default ratings on these
loans facilities:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
5-Year Senior
Secured Revolver          B1       Ba2     LGD2        13%

6-Year Senior
Secured Term Loan B       B1       Ba2     LGD2        13%

6-Year Senior
Secured Delayed
Draw Term Loan            B1       Ba2     LGD2        13%

Guaranteed Senior
Unsecured Notes           B3       B3      LGD2        69%

Moody's current long-term credit ratings are opinions about
expected credit loss, which incorporate both the likelihood of
default and the expected loss in the event of default.

The LGD rating methodology will disaggregate these two key
assessments in long-term ratings.  The LGD rating methodology will
also enhance the consistency in Moody's notching practices across
industries and will improve the transparency and accuracy of
Moody's ratings as its research has shown that credit losses on
bank loans have tended to be lower than those for similarly rated
bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% - 9%) to
LGD6 (loss anticipated to be 90% - 100%).

Headquartered in Golden, Colorado, Jacobs Entertainment Inc. --
http://www.jacobsentertainment.com/-- is a developer, owner, and
operator of gaming and pari-mutuel wagering facilities throughout
the United States, with properties located in Colorado, Louisiana,
Nevada, and Virginia.  Jacobs Entertainment owns and operates
three land-based casinos, 11 truck plaza video gaming facilities
(two of which are leased) and a horseracing track with nine off-
track wagering facilities (five of which are leased).  In
addition, Jacobs Entertainment is party to an agreement that
entitles it to a portion of the gaming revenue from an additional
truck plaza video gaming facility.


JAFRA WORLDWIDE: Moody's Assigns Loss-Given-Default Rating
----------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the US Consumer Products, Beverage, Toy, Natural
Product Processors, Packaged Food Processors and Agricultural
Cooperative sectors, the rating agency confirmed its Ba3 Corporate
Family Rating for Jafra Worldwide Holdings and upgraded its B2
rating on Jafra Cosmetics International, Inc.'s $130 million
senior subordinated notes to B1.  Additionally, Moody's assigned
an LGD4 rating to the notes, suggesting noteholders will
experience a 60% loss in the event of a default.

Moody's explains that current long-term credit ratings are
opinions about expected credit loss, which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

Headquartered in Westlake Village, California, Jafra Worldwide
Holdings, Inc. sells fragrances, color cosmetics, skin and body
care products, and other personal care items through a network of
over 470,000 self-employed consultants.  Jafra's parent company,
Vorwerk & Co. KG, is a family-owned direct seller of household
appliances, carpets, industrial and financial services, based in
Wuppertal, Germany.


JEFF PHILLIPS: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: Jeff Felix Phillips
        345 Wilma Court Southwest
        Atlanta, GA 30331

Bankruptcy Case No.: 06-72439

Chapter 11 Petition Date: October 2, 2006

Court: Northern District of Georgia (Atlanta)

Debtor's Counsel: Dorna Jenkins Taylor, Esq.
                  Taylor & Tew P.C.
                  Suite 500
                  1401 Peachtree Street
                  Atlanta, GA 30309
                  Tel: (404) 870-3560
                  Fax: (404) 745-0136

Estimated Assets: $1 Million to $10 Million

Estimated Debts:  $500,000 to $1 Million

The Debtor did not file a list of its 20 largest unsecured
creditors.


JMNM COMPANY: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: The JMNM Company Inc.
        c/o John Madden
        8560 Greenwood Avenue North
        Seattle, WA 98103

Bankruptcy Case No.: 06-13119

Chapter 11 Petition Date: September 13, 2006

Court: Western District of Washington (Seattle)

Judge: Karen A. Overstreet

Debtor's Counsel: Michael P. Harris, Esq.
                  1218 3rd Avenue, Suite 1809
                  Seattle, WA 98101
                  Tel: (206) 622-7434

Estimated Assets: $1 Million to $10 Million

Estimated Debts:  $1 Million to $10 Million

The Debtor did not file a list of its 20 Largest Unsecured
Creditors.


K&F INDUSTRIES: Moody's Assigns Loss-Given-Default Ratings
----------------------------------------------------------
In connection with Moody's Investors Service's implementation
of its new Probability-of-Default and Loss-Given-Default rating
methodology, the rating agency confirmed its B2 Corporate
Family Rating for K&F Industries Holdings Inc.  Additionally,
Moody's revised its probability-of-default ratings and assigned
loss-given-default ratings on these loans and bond debt
obligations:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
   Revolving Credit
   Facility due 2010       B2      Ba3      LGD2      26%

   Term Loan B
   due 2012                B2      Ba3      LGD2      26%

   7.75% Sr. Subor.
   Notes due 2014         Caa1     Caa1     LGD5      81%

   9-5/8% Sr. Subor.
   Notes due 2010         Caa1     Caa1     LGD5      81%

Moody's explains that current long-term credit ratings are
opinions about expected credit loss, which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

K&F Industries Inc., through its Aircraft Braking Systems
Corporation subsidiary, manufactures wheels, brakes and brake
control systems for commercial transport, general aviation and
military aircraft.  K & F Industries Inc.'s other subsidiary,
Engineered Fabrics Corporation, is a major producer of aircraft
fuel tanks, de-icing equipment and specialty coated fabrics used
for storage, shipping, environmental and rescue applications for
commercial and military use.


KAISER ALUMINUM: Agrium Companies React to Claim Objections
-----------------------------------------------------------
William E. Chipman, Jr., Esq., at Edwards Angell Palmer & Dodge
LLP, in Wilmington, Delaware, refutes the contention of Kaiser
Aluminum & Chemical Corporation and Kaiser Aluminum Properties,
Inc., that Agrium, Inc., and Agrium U.S., Inc., cannot meet the
standards for entitlement to an administrative claim.

Citing In re Frenville Co., Inc., 744 F.2d 332 (3rd Cir. 1985),
Mr. Chipman asserts that the Agrium Companies' claim is a
postpetition claim because their "right to payment" did not accrue
under Illinois law until after Kaiser's bankruptcy filing when
they were sued by Lance Olson and Daniel Freeman.  Mr. Chipman
notes that Kaiser has not disputed that the Agrium Companies'
claim accrued after its Petition Date.

In a supplement to its Objection, Kaiser asserted that because
there was an agreement with the Agrium Companies that has an
indemnity provision, the Agrium Companies' claim for contribution
does not arise postpetition but rather accrued when the
prepetition agreement was executed by the parties.

In response, Mr. Chipman says that this is not true because the
indemnity provisions contained in the agreement identified by
Kaiser have expired on Feb. 28, 2001, almost one year before
Kaiser sought bankruptcy protection.

Kaiser has also asserted that there is no benefit to the estate
and that the exception to the "benefit to the estate" prong does
not apply because the Kaiser estate did not cause the harm
suffered by the Plaintiffs for which the Agrium Companies seek to
assert an administrative claim.

Mr. Chipman says that there will be a benefit to the Kaiser
estate, if the Agrium Companies are forced to pay the
administrative claims of the Plaintiffs on a joint and several
basis.  The Agrium Companies will be defending this suit with
vigor and if the liabilities are assigned to them, the Kaiser
estate will benefit from the Agrium Companies' payment of that
liability.

Moreover, the Court should dispense with the "benefit to the
estate" prong for allowance of an administrative claim when a
claim accrues while a debtors' estate is operating its business,
Mr. Chipman says.

Mr. Chipman requests that if the Agrium Companies' postpetition
claim is not granted administrative status, the claim should not
be discharged, and that allowance or disallowance of the claim
should be deferred until the time Kaiser as co-defendant is found
liable and judgment is recovered from the non-debtor defendants.

The Agrium Companies believe that their due process rights are in
jeopardy if their claim is not permitted administrative status or
if their claim does not survive Kaiser's Chapter 11 cases.  They
tell the Court that contrary to Kaiser's statement, they were not
ignorant of their existing claim; they simply did not have any
claim until after confirmation of Kaiser's 2nd Amended Plan of
Reorganization when they were sued by the Plaintiffs.

Accordingly, the Agrium Companies ask the Court to overrule
Kaiser's objection.

               Kaiser Further Supplements Objection

Kaiser tells the Court that it has located more documents to
support its claim that it has indemnified the Agrium Companies for
environmental liabilities relating to its former operations of the
facility in Cantrall, Illinois.

Kimberly D. Newmarch, Esq., at Richards, Layton & Finger in
Wilmington, Delaware, relates that Kaiser found its 1988
settlement agreement with Vigoro Industries, the Agrium Companies'
corporate predecessor.

Pursuant to the 1988 Settlement Agreement, Kaiser agreed to
indemnify Vigoro for all liabilities relating to claims "arising
from or relating to past, present, or future conditions at the
farmarket located in Cantrall, Illinois," the same site and
operations that the Plaintiffs assert caused the injuries that
form the basis of their claims.

                      Other Insurers Respond

Republic Indemnity Company, certain underwriters at Lloyd's,
London, certain London Market Companies, and certain Castlewood
Companies join in the objections of Century Indemnity Company,
ACE Property & Casualty Company, Industrial Indemnity Company,
Industrial Underwriters Insurance Company, Pacific Employers
Insurance Company, and Central National Insurance Company of
Omaha.

The Insurers were released from all further insurance coverage
obligations pursuant to separate Court-approved agreements with
Kaiser.

The Insurers assert that the Agrium Companies are not entitled to
pursue insurance coverage against them.

Thus, the Insurers ask the Court to deny the Agrium Companies'
request.

Headquartered in Foothill Ranch, California, Kaiser Aluminum
Corporation -- http://www.kaiseraluminum.com/-- is a leading
producer of fabricated aluminum products for aerospace and high-
strength, general engineering, automotive, and custom industrial
applications.  The Company filed for chapter 11 protection on
Feb. 12, 2002 (Bankr. Del. Case No. 02-10429), and has sold off a
number of its commodity businesses during course of its cases.
Corinne Ball, Esq., at Jones Day, represents the Debtors in their
restructuring efforts.  Lazard Freres & Co. serves as the Debtors'
financial advisor.  Lisa G. Beckerman, Esq., H. Rey Stroube, III,
Esq., and Henry J. Kaim, Esq., at Akin, Gump, Strauss, Hauer &
Feld, LLP, and William P. Bowden, Esq., at Ashby & Geddes
represent the Debtors' Official Committee of Unsecured Creditors.
The Debtors' Chapter 11 Plan became effective on July 6, 2006.  On
June 30, 2004, the Debtors listed $1.619 billion in assets and
$3.396 billion in debts.  (Kaiser Bankruptcy News, Issue No. 106;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 609/392-0900)


KAISER ALUMINUM: Cuts 20 Jobs in Ontario, Canada Plant
------------------------------------------------------
Kaiser Aluminum Corporation has recently cut 20% of its workforce
in Ontario, Canada, The London Free Press reports.

The Company, according to the London Free Press, laid off 20
workers in its plant in Ontario, Canada, in late September.  It
has already cut 22 jobs in the plant earlier in the month from its
workforce of 220.

Headquartered in Foothill Ranch, California, Kaiser Aluminum
Corporation -- http://www.kaiseraluminum.com/-- is a leading
producer of fabricated aluminum products for aerospace and high-
strength, general engineering, automotive, and custom industrial
applications.  The Company filed for chapter 11 protection on
Feb. 12, 2002 (Bankr. Del. Case No. 02-10429), and has sold off a
number of its commodity businesses during course of its cases.
Corinne Ball, Esq., at Jones Day, represents the Debtors in their
restructuring efforts.  Lazard Freres & Co. serves as the Debtors'
financial advisor.  Lisa G. Beckerman, Esq., H. Rey Stroube, III,
Esq., and Henry J. Kaim, Esq., at Akin, Gump, Strauss, Hauer &
Feld, LLP, and William P. Bowden, Esq., at Ashby & Geddes
represent the Debtors' Official Committee of Unsecured Creditors.
The Debtors' Chapter 11 Plan became effective on July 6, 2006.  On
June 30, 2004, the Debtors listed $1.619 billion in assets and
$3.396 billion in debts.  (Kaiser Bankruptcy News, Issue No. 106;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 609/392-0900)


KELLWOOD CO: Earns $7.1 Million in Quarter Ended July 29
--------------------------------------------------------
Kellwood Company has filed its third quarter financial statements
for the three months ended July 29, 2006, with the Securities and
Exchange Commission.

The Company reported $7.1 million of net income on $474.4 million
of net revenues for the three months ended July 29, 2006, compared
to a $78.9 million net loss on $488.1 million of revenues in 2005.

A full-text copy of the Company's Quarterly Report is available
for free at http://researcharchives.com/t/s?12d8

Headquartered in St. Louis, Missouri, Kellwood Company --
http://www.kellwood.com/-- markets apparel and consumer soft
goods.

                           *     *     *

As reported in the Troubled Company Reporter on July 12, 2006,
Standard & Poor's Ratings Services revised its outlook on Kellwood
Co. to negative from stable and affirmed the company's corporate
credit rating to BB.  Total debt outstanding at April 29, 2006,
was about $509 million.

As reported in the Troubled Company Reporter on May 12, 2006,
Moody's Investors Service affirmed the Ba2 corporate family rating
for Kellwood Company and downgraded the senior unsecured debt
rating to Ba3 from Ba2 following the completion of a secured asset
based credit facility that replaced an unsecured revolving credit
facility.  The downgrade of the senior unsecured debt rating
reflected the effective subordination of the remaining unsecured
creditors to the new secured credit facility and the release of
the subsidiary guarantees since they were linked to the terminated
credit facility.  The outlook is negative.


KIDS WORLD: Has Viable Cause of Action Against State of Georgia
---------------------------------------------------------------
Kids World of America, Inc., sued the State of Georgia Department
of Early Care and Learning demanding the turnover of funds (Bankr.
W.D. Ky. Adv. Pro. No. 05-03217).  The State moved to dismiss the
lawsuit.  The Honorable Thomas H. Fulton held a hearing on June 7,
2006.  At that time the Court took the Motion to Dismiss and the
Debtor's Response under submission and took proof on the Complaint
for Turnover of Funds.

The Debtor was represented by counsel and offered the testimony of
Jeffrey Owen, its principal; Ruth Coon, the Debtor's Area Manager
for the State of Georgia; and Don Mitchell, an outside consultant.
The State was also represented by counsel and offered the
testimony of Kay Hellwig, the Division Director for Childcare
Services of Bright from the Start, Georgia Department of Early
Care and Learning; Tanya R. Astin, Audit Coordinator of Bright
from the Start; and Daphne Haley, Pre-Kindergarten Division
Director of Bright from the Start.

At the evidentiary hearing, the Court informed the parties that it
would be considering three distinct yet interrelated issues:

   (1) whether the dispute is a core proceeding;

   (2) whether the State may successfully assert the defense of
       sovereign immunity in light of the Supreme Court's decision
       in Central Virginia Community College v. Katz, 126 S.Ct.
       990, 163 L.Ed.2d 945 (2006); and

   (3) whether the Plaintiff can sustain a claim for turnover
       predicated under a quantum meruit theory of liability.

Based on the evidence presented, the statements of counsel, the
testimony of the various witnesses, and the entire record in this
case, Judge Fulton finds that the dispute is a core proceedings
under 28 U.S.C. Sec. 157(b)(2)(A), that the State cannot
successfully assert the defense of sovereign immunity, and that
the Debtor can sustain a limited claim for turnover based upon a
quantum meruit theory of liability.

The agency, Judge Fulton explains in a decision published at 2006
WL 2585521, benefited from valuable services rendered by the
debtor to the state's children, and knowingly accepted the
services under circumstances making its failure to compensate the
debtor unjust.  The agency was informed by the debtor that the
debtor was running classes for which it expected reimbursement
under an anticipated contract.  The debtor anticipated
compensation when rendering the services, moreover, for at least a
portion of the program period.  The debtor's recovery, however,
will be limited to the period preceding the agency's filing of an
answer in which the agency denied the existence of a debt in
response to the debtor's turnover claim in its bankruptcy case.
After that, the debtor could not reasonably expect compensation
for any additional services rendered.

Kids World of America Inc. filed for chapter 11 protection on
August 17, 2004 (Bankr. W.D. Ky. Case No. 04-35242), and is
represented by David M. Cantor, Esq., at Seiller & Handmaker, LLP.


KMART CORP: Wants Summary Judgment on Ashland's $1,303,004 Claim
----------------------------------------------------------------
In 2002, Kmart Corporation filed its schedules of assets and
liabilities, which list included unsecured claims from:

    (1) Valvoline Co. -- Claim No. 10582442 for $536,678; and
    (2) Eagle One Industries -- Claim No. 10581448 for $32,721.

Valvoline is a division of Ashland Inc., and Eagle One Industries
is an operating unit of Valvoline.

On April 30, 2002, Ashland filed Claim No. 14688 for $1,303,004
consisting of:

    -- $1,211,440 for Valvoline; and
    -- $91,563 for Eagle One.

The Scheduled Claims were allowed for $569,399.  Ashland
commenced receiving distributions on the Scheduled Claims on or
about June 30, 2003.

In February 2004, Kmart objected to claims in excess of the
Scheduled Claims.  The Excess Claims allegedly comprised of
missing invoices and Kmart deductions that Ashland wanted repaid,
Kimberly J. Robinson, Esq., at Barack Ferrazzano Kirschbaum,
Perlman & Nagelberg LLP, in Chicago, Illinois, discloses.

Ms. Robinson relates that based on Kmart's books and records, and
affidavits submitted before the U.S. Bankruptcy Court for the
Northern District of Illinois, Ashland has no Excess Claim.  Kmart
repeatedly requested that Ashland provide documents to
substantiate the Excess Claim but Ashland failed to do so.

Specifically, Ms. Robinson says, Kmart sought admissions as to
the matters for which Ashland bases its Claim, that:

    (a) no written contract or agreement for goods between Ashland
        and Kmart existed;

    (b) no invoices to Kmart for the goods for which Ashland bases
        its Claim exist;

    (c) there are no proofs of receipt that establish Kmart
        received the goods;

    (d) $35,037 of the Claim has been satisfied through settlement
        of Eagle One's Claim No. 10581448;

    (e) $638,710 of the Claim has been satisfied through
        settlement of Valvoline's Claim No. 10581448; and

    (f) Kmart is not liable for the payment of the Claim.

Kmart also sought and obtained a Court order compelling Ashland
to respond to discovery requests.  To date, Ashland has not
responded to the requests.

Ms. Robinson asserts that Ashland has failed to establish a prima
facie claim for the balance of its Claim.  Ashland has failed in
its pleadings to substantiate the Excess Claim, and thus, has
not, and cannot, create an issue of fact to preclude summary
judgment in Kmart's favor.

Even if the Court were to accord Ashland a prima facie claim, Ms.
Robinson avers that Kmart's prior requests and the supporting
papers sufficiently rebut the remaining portion of the Claim.
Specifically, because of Ashland's failure to object or otherwise
answer Kmart's request for admissions, Ashland has effectively
admitted, among others, that there is no written contract or
agreement substantiating the Excess Claim.

Accordingly, Kmart asks the Court:

    * for summary judgment in its favor with respect to its
      objection to Claim No. 14688; and

    * to disallow the Excess Claim.

Headquartered in Troy, Michigan, Kmart Corporation nka KMART
Holding Corporation -- http://www.bluelight.com/-- operates
approximately 2,114 stores, primarily under the Big Kmart or Kmart
Supercenter format, in all 50 United States, Puerto Rico, the U.S.
Virgin Islands and Guam.  The Company filed for chapter 11
protection on January 22, 2002 (Bankr. N.D. Ill. Case No.
02-02474).  Kmart emerged from chapter 11 protection on May 6,
2003.  John Wm. "Jack" Butler, Jr., Esq., at Skadden, Arps, Slate,
Meagher & Flom, LLP, represented the retailer in its restructuring
efforts.  The Company's balance sheet showed $16,287,000,000 in
assets and $10,348,000,000 in debts when it sought chapter 11
protection.  Kmart bought Sears, Roebuck & Co., for $11 billion to
create the third-largest U.S. retailer, behind Wal-Mart and
Target, and generate $55 billion in annual revenues.  The waiting
period under the Hart-Scott-Rodino Antitrust Improvements Act
expired on Jan. 27, without complaint by the Department of
Justice.  (Kmart Bankruptcy News, Issue No. 117; Bankruptcy
Creditors' Service Inc. http://bankrupt.com/newsstand/or
215/945-7000)


KMART CORP: Court Disallows Seven Real Property Lease Claims
------------------------------------------------------------
Kmart Corporation asked the U.S. Bankruptcy Court for the Northern
District of Illinois to enter judgment in its favor with respect
to seven claims related to leases for real property,
specifically:

    (1) Founder, Inc.'s Claim No. 30775;
    (2) HSBC Bank, Inc.'s Claim No. 50849;
    (3) State Street Bank and Trust's Claim Nos. 39857 and 40899;
    (4) BMKM Properties' Claim No. 42165; and
    (5) Office Depot's Claim Nos. 38555 and 38556.

Kimberly J. Robinson, Esq., at Barack Ferrazzano Kirschbaum
Perlman & Nagelberg LLP, in Chicago, Illinois, discloses that
Founder, HSBC Bank, and State Street Bank have authorized Kmart
to include them in the judgment request, as they agree that there
is no remaining liability on Kmart's part related to their
claims.

Despite numerous attempts to contact BMKM and Office Depot, Kmart
has been unable to receive responses from them.

Ms. Robinson asserts that summary judgment is appropriate for
each of the Claims as none of the Claims are valid.  Kmart
further believes that none of the Claimants will submit sworn
evidence establishing a claim for any amount.

Accordingly, the Court disallowed in their entirety:

    -- Founder's Claim No. 30775;
    -- State Street Bank's Claim Nos. 39857 and 40899; and
    -- BMKM's Claim No. 42165.

The hearing to consider Office Depot's Claim Nos. 38555 and 38556
is continued to a later date.

Kmart subsequently withdrew its objection to HSBC Bank's Claim No.
50849 because the Claim was previously disallowed in an order
sustaining the Debtors' twentieth omnibus objection dated May 12,
2004.

Headquartered in Troy, Michigan, Kmart Corporation nka KMART
Holding Corporation -- http://www.bluelight.com/-- operates
approximately 2,114 stores, primarily under the Big Kmart or Kmart
Supercenter format, in all 50 United States, Puerto Rico, the U.S.
Virgin Islands and Guam.  The Company filed for chapter 11
protection on January 22, 2002 (Bankr. N.D. Ill. Case No.
02-02474).  Kmart emerged from chapter 11 protection on May 6,
2003.  John Wm. "Jack" Butler, Jr., Esq., at Skadden, Arps, Slate,
Meagher & Flom, LLP, represented the retailer in its restructuring
efforts.  The Company's balance sheet showed $16,287,000,000 in
assets and $10,348,000,000 in debts when it sought chapter 11
protection.  Kmart bought Sears, Roebuck & Co., for $11 billion to
create the third-largest U.S. retailer, behind Wal-Mart and
Target, and generate $55 billion in annual revenues.  The waiting
period under the Hart-Scott-Rodino Antitrust Improvements Act
expired on Jan. 27, without complaint by the Department of
Justice.  (Kmart Bankruptcy News, Issue No. 117; Bankruptcy
Creditors' Service Inc. http://bankrupt.com/newsstand/or
215/945-7000)


KMART CORP: Wants Settled Critical Vendor Claims Disallowed
-----------------------------------------------------------
The Seventh Circuit Court of Appeals previously held that certain
critical vendor payments made by Kmart Corporation shortly after
its bankruptcy filing were not authorized by the Bankruptcy Code.

William J. Barrett, Esq., at Barack Ferrazzano Kirschbaum Perlman
& Nagelberg LLP, in Chicago, Illinois, relates that as a result,
Kmart brought actions against 1,100 recipients of critical vendor
payments seeking to avoid the payments.

Kmart has settled about 950 of the critical vendor cases.  As
part of the settlement, 25 defendants agreed that they would have
no claim in Kmart's Chapter 11 case.  However, Kmart's claims
register still show that the 25 parties are holding claims against
the estate.

Accordingly, Kmart asks the U.S. Bankruptcy Court for the Northern
District of Illinois to disallow the 25 claimants' claims related
to settled critical vendor cases.

The Claims include:

                                       Creditor          Claim
    Creditor                           Claim No.         Amount
    --------                           ---------         ------
    Beckley Newspapers, Inc.            10578651       $125,046
    California Independent Hospital     10566837        774,818
    Des Moines Register and Tribune     10578780        303,798
    El Paso Times, Inc.                 10567577        250,639
    Guam Publication Pacific Daily      10571081        109,560
    Hawaii Newspaper Agency, Inc.       10561390      1,034,770
    Post and Courier                    10578416        297,441
    Reno Gazette Journal                10579422        251,523
    Tribune Star                           13559        142,343
    Visalia Times Delta                 10579417        140,706

Kmart has previously objected to the claims in February 2004.

Mr. Barrett adds that several parties filed claims relating to
critical vendor payments that Kmart did not seek to avoid, or
relating to critical vendor avoidance actions that Kmart has
elected not to pursue.

Hence, Kmart also asks the Court to disallow eight claims as
their claimants have retained the critical vendor payments they
received.  The eight claims are:

                                       Creditor          Claim
    Creditor                           Claim No.         Amount
    --------                           ---------         ------
    County Press                            2961         $2,138
    Indiana Herald                          4407          1,323
    Johnson Bros. of Hawaii             10579349         34,902
    Observer News Enterprise                3927          1,918
    Seminole Herald                         9454          2,107
    South Carolina Black Media Group        3883          4,200
    Times                                  31372          6,988
    Voice Newspaper                     10562492         54,086

Headquartered in Troy, Michigan, Kmart Corporation nka KMART
Holding Corporation -- http://www.bluelight.com/-- operates
approximately 2,114 stores, primarily under the Big Kmart or Kmart
Supercenter format, in all 50 United States, Puerto Rico, the U.S.
Virgin Islands and Guam.  The Company filed for chapter 11
protection on January 22, 2002 (Bankr. N.D. Ill. Case No.
02-02474).  Kmart emerged from chapter 11 protection on May 6,
2003.  John Wm. "Jack" Butler, Jr., Esq., at Skadden, Arps, Slate,
Meagher & Flom, LLP, represented the retailer in its restructuring
efforts.  The Company's balance sheet showed $16,287,000,000 in
assets and $10,348,000,000 in debts when it sought chapter 11
protection.  Kmart bought Sears, Roebuck & Co., for $11 billion to
create the third-largest U.S. retailer, behind Wal-Mart and
Target, and generate $55 billion in annual revenues.  The waiting
period under the Hart-Scott-Rodino Antitrust Improvements Act
expired on Jan. 27, without complaint by the Department of
Justice.  (Kmart Bankruptcy News, Issue No. 117; Bankruptcy
Creditors' Service Inc. http://bankrupt.com/newsstand/or
215/945-7000)


LA REINA: Gets Final Court OK on $9.7MM DIP Pact with Westernbank
-----------------------------------------------------------------
The Honorable Gerardo Carlo of the U.S. Bankruptcy Court for the
District of Puerto Rico gave La Reina Management Inc. and its
debtor-affiliates authority, on a final basis, to obtain
postpetition financing from Westernbank Puerto Rico pursuant to a
July 2006 loan and security agreement.

Under the Loan Agreement, Westernbank agreed to lend $9,750,000 to
the Debtor, secured by substantially all of the Debtors' assets.
The Loan is guaranteed by San Luis Investment, S.E.

The Loan is subject to a $75,000 carve out for payment of fees to
the Clerk of the Bankruptcy Court and to the Office of the United
States Trustee.

Headquartered in Caguas, Puerto Rico, La Reina Management, Inc.,
is engaged in the administration of its affiliated companies'
funds through the performance of functions such as merchandise
purchases, payment to suppliers and employees, record keeping of
expenses allocation, and other miscellaneous management services.
La Reina Management's revenues consist of fees charged to the
affiliates for these services.

The Company and 12 of its affiliates filed for chapter 11
protection on July 26, 2006 (Bankr. D. P.R. Case No. 06-02477).
Jose Raul Cancio Bigas, Esq., in Hato Rey, Puerto Rico, represents
the Debtors.  No Official Committee of Unsecured Creditors has
been appointed in this case to date.  When La Reina Management
filed for protection from its creditors, it reported total assets
of $14,166,830 and total debts of $13,810,411.


LAMAR MEDIA: Moody's Assigns Loss-Given-Default Ratings
-------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the US advertising and broadcasting sector,
Moody's revised or held its probability-of-default ratings and
assigned loss-given-default ratings on these loans and bond debt
obligations issued by Lamar Media Corporation:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
   Secured revolver       Ba1      Baa3    LGD2       20%

   Secured term loan      Ba1      Baa3    LGD2       20%

   7 1/4% Sr. Sub
   notes due 2013         Ba3      Ba3     LGD5       71%

   6 5/8% Sr. Sub
   notes due 2015         Ba3      Ba3     LGD5       71%

   Sr. Unsecured Shelf   (P)Ba2  (P)Baa3   LGD2       20%

   Sr. Subor. Shelf      (P)Ba3  (P)Ba3    LGD5       71%

   Preferred Shelf       (P)B1   (P)B1     LGD6       90%

Moody's explains that current long-term credit ratings are
opinions about expected credit loss, which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

Headquartered in Baton Rouge, Louisiana Lamar Media Corp --
http://www.lamar.com/-- is one of the largest owners and
operators of outdoor advertising structures in the United States.


LANCE WELLER: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: Lance Cornell Weller
        4700 Jett Road
        Atlanta, GA 30327

Bankruptcy Case No.: 06-72558

Chapter 11 Petition Date: October 3, 2006

Court: Northern District of Georgia (Atlanta)

Judge: Margaret Murphy

Debtor's Counsel: Stephen J. Sasine, Esq.
                  Suite 275, Lenox Plaza
                  3384 Peachtree Road, Northeast
                  Atlanta, GA 30326-1106
                  Tel: (404) 869-8929
                  Fax: (678) 623-0785

Estimated Assets: $500,000 to $1 Million

Estimated Debts:  $1 Million to $10 Million

The Debtor did not file a list of its 20 largest unsecured
creditors.


LAS VEGAS SANDS: Moody's Assigns Loss-Given-Default Ratings
-----------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the Gaming, Lodging & Leisure sector, the rating
agency confirmed Las Vegas Sands Corp.'s Ba3 Corporate Family
Rating.

Additionally, Moody's revised its probability-of-default ratings
and assigned loss-given-default ratings on these loans facilities:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
Sr. Secured Revolver      Ba3      Ba2     LGD3        39%

Sr. Secured Term Loan     Ba3      Ba2     LGD3        39%

Sr. Secured Delayed
Draw Term Loan            Ba3      Ba2     LGD3        39%

6.375% Sr. Notes          B1       B2      LGD6        90%

Moody's current long-term credit ratings are opinions about
expected credit loss, which incorporate both the likelihood of
default and the expected loss in the event of default.

The LGD rating methodology will disaggregate these two key
assessments in long-term ratings.  The LGD rating methodology will
also enhance the consistency in Moody's notching practices across
industries and will improve the transparency and accuracy of
Moody's ratings as its research has shown that credit losses on
bank loans have tended to be lower than those for similarly rated
bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% - 9%) to
LGD6 (loss anticipated to be 90% - 100%).

Headquartered in Las Vegas, Nev., Las Vegas Sands Corp. --
http://www.lasvegassands.com/-- is a hotel, gaming, and resort
development company.  The Company owns The Venetian Resort Hotel
Casino, the Sands Expo and Convention Center, and Venetian Macao
Limited, a developer of multiple casino hotel resort properties in
The People's Republic of China's Special Administrative Region of
Macao.


LBI Media: Moody's Assigns Loss-Given-Default Ratings
-----------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the US advertising and broadcasting sector, the
rating agency affirmed its B1 corporate family rating on LBI
Media, Inc.

Additionally, Moody's revised or held its probability-of-default
ratings and assigned loss-given-default ratings on these loans and
bond debt obligations:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
   Secured revolver        B1      Ba2     LGD2        21%

   Secured term loan       B1      Ba2     LGD2        21%

   10.125% Sr. Subor.
   notes due 2012          B3       B2     LGD4        69%

Moody's explains that current long-term credit ratings are
opinions about expected credit loss, which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

LBI Media, Inc. is one of the largest owners and operators of
Spanish-language radio and television stations in the United
States, based on revenues and number of stations.  The Company
owns sixteen radio stations and four television stations serving
the Los Angeles, CA, Houston, TX, Dallas-Ft. Worth, TX and San
Diego, CA markets.  The Company also owns a television production
facility in Burbank, California.


LE GOURMET: Creditors Panel Retains Lowenstein Sandler as Counsel
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of New Jersey gave
the Official Committee of Unsecured Creditors in Le Gourmet Chef,
Inc.'s chapter 11 case authority to retain Lowenstein Sandler, PC,
as its counsel, effective Aug. 16, 2006.

As reported in the Troubled Company Reporter on Sept. 5, 2006,
Lowenstein Sandler will:

   (a) provide legal advice with respect to the Creditors
       Committee's powers and duties as an official committee
       appointed under 11 U.S.C. 1102;

   (b) assist the Creditors Committee in investigating the acts,
       conduct, assets, liabilities, and financial condition of
       the Debtor, the operation of the Debtor's business,
       potential claims, and any other matters relevant to the
       case or to the formulation of a plan of reorganization;

   (c) participate in the formulation of a plan;

   (d) provide legal advice with respect to any disclosure
       statement and plan filed relative to the case and with
       respect to the process for approving or disapproving
       disclosure statements and confirming or denying
       confirmation of a plan;

   (e) prepare on behalf of the Creditors Committee applications,
       motions, complaints, answers, orders, agreements and other
       legal papers;

   (f) appear in Court to present necessary motions, applications,
       and pleadings, and otherwise protect the interests of those
       represented by the Creditors Committee;

   (g) assist the Creditors Committee in requesting the
       appointment of a trustee or examiner, should such action be
       necessary; and

   (h) perform such other legal services as may be required and be
       in the interest of the Creditors Committee and creditors.

John k. Sherwood, Esq., a member at Lowenstein Sandler, told the
Court that the hourly rates for the firm's professionals are:

     Classification/Experience                Hourly Rate
     -------------------------                ------------
     Members (principals) of the Firm         $335 to $645

     Senior Counsel (generally 10 or          $315 to $425
     more years experience)

     Counsel                                  $265 to $375

     Associates (generally less than          $185 to $310
     6 years experience)

     Legal Assistants                          $75 to $175

Mr. Sherwood assured the Court that the Firm is a "disinterested
person" as the term is defined in Section 101(14) of the
Bankruptcy Code.

Headquartered in Shrewsbury, New Jersey, Le Gourmet Chef, Inc.,
-- http://www.legourmetchef.com/-- is a retailer specializing in
solutions for entertaining and gift giving.  The Company filed for
bankruptcy on Aug. 8, 2006 (Bankr. D. N.J. Case No. 06-17364).
John DiIorio, Esq., at Shapiro & Croland, and Wendy G. Marcari,
Esq., at Dreier LLP represent the Debtor.  When the Debtor filed
for bankruptcy, the Debtor estimated its assets and debts at
$10 million to $50 million.


LE GOURMET: Brings In FTI Consulting as Financial Advisor
---------------------------------------------------------
Le Gourmet Chef, Inc., obtained permission from the U.S.
Bankruptcy Court for the District of New Jersey to employ FTI
Consulting, Inc., as its financial advisors.

As reported in the Troubled Company Reporter on Aug. 24, 2006,
FTI Consulting is expected to:

    a. assist the Debtor in complying with the financial reporting
       requirement under the guidelines issued by the U.S.
       Trustee;

    b. prepare and review cash or other projections, reports and
       analyses, and statement of receipts, disbursement and
       indebtedness;

    c. consult with the Debtor's management in connection with the
       financial matters relating to the ongoing activities of the
       Debtor;

    d. provide assistance with the analysis and reconciliation of
       claims;

    e. assist the Debtor in preparing its schedules and statement
       of financial affairs, and any required federal, state or
       local tax returns;

    f. assist in the development and negotiation of a plan of
       reorganization or liquidation; and

    g. assist with other matters as management or counsel to the
       Debtor may request from time to time.

Kevin Regan, Senior Managing Director at FTI Consulting, told the
Court that the firm's professionals bill:

       Professional                      Hourly Rate
       ------------                      -----------
       Senior Managing Director          $595 - $655
       Director/Managing Director        $465 - $585
       Associates/Senior Associates      $245 - $400
       Administrative/Paraprofessional    $95 - $175

Mr. Regan assured the Court that his firm is a "disinterested
person" as that term is defined in Section 101(14) of the
Bankruptcy Code.

Headquartered in Shrewsbury, New Jersey, Le Gourmet Chef, Inc.,
-- http://www.legourmetchef.com/-- is a retailer specializing in
solutions for entertaining and gift giving.  The Company filed for
bankruptcy on Aug. 8, 2006 (Bankr. D. N.J. Case No. 06-17364).
John DiIorio, Esq., at Shapiro & Croland, and Wendy G. Marcari,
Esq., at Dreier LLP represent the Debtor.  John K. Sherwood, Esq.,
and Kenneth Rosen, Esq., at Lowenstein Sandler, represents the
Official Committee of Unsecured Creditors.  When the Debtor filed
for bankruptcy, the Debtor estimated its assets and debts at
$10 million to $50 million.


LEGENDS GAMING: Moody's Assigns Loss-Given-Default Ratings
----------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the Gaming, Lodging & Leisure sector, the rating
agency confirmed Legends Gaming, LLC's B2 Corporate Family Rating.

Additionally, Moody's revised or confirmed its probability-of-
default ratings and assigned loss-given-default ratings on these
loans facilities:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
   Sr. Sec. Revolver      B2       B1      LGD3        35%

   Sr. Secured
   Term Loan B            B2       B1      LGD3        35%

   Sr. Sec. Second
   Lien Term Loan         Caa1     Caa1     LGD5        88%

Moody's current long-term credit ratings are opinions about
expected credit loss, which incorporate both the likelihood of
default and the expected loss in the event of default.

The LGD rating methodology will disaggregate these two key
assessments in long-term ratings.  The LGD rating methodology will
also enhance the consistency in Moody's notching practices across
industries and will improve the transparency and accuracy of
Moody's ratings as its research has shown that credit losses on
bank loans have tended to be lower than those for similarly rated
bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% - 9%) to
LGD6 (loss anticipated to be 90% - 100%).

Legends Gaming, LLC, headquartered in Frankfort, Illinois, was
formed to purchase two casino properties from Isle of Capri.


LENOX HEALTHCARE: Charles Golden Named as Chapter 7 Trustee
-----------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware named
Charles M. Golden, Esq., as the chapter 7 trustee in Lenox
Healthcare, Inc., and its debtor-affiliates' liquidation
proceedings.

The Court converted the Debtors' cases to chapter 7 at the behest
of Kelly Beaudin Stapleton, the U.S. Trustee for Region 3.  The
U.S. Trustee asked for the conversion citing:

    * the failure of the Chapter 11 Trustee to comply with
      Section 1106(a)(5) of 11 U.S.C. by not filing a plan; and

    * the inability to effectuate a plan.

Lenox Healthcare, Inc., then one of the leading health care
providers in the United States, filed for chapter 11 protection on
July 10, 2001 (Bankr. D. Del. Case No. 01-2288).  The company's
operations have ceased.  On July 27, 2001, the Court appointed
Charles M. Golden as Chapter 11 Trustee to oversee the transition
of the Debtors' businesses to their secured creditors and lessors
and wind up their estates.


LENOX HEALTHCARE: Ch. 7 Trustee Taps Obermayer Rebmann as Counsel
-----------------------------------------------------------------
Charles M. Golden, Esq., the Chapter 7 Trustee appointed in Lenox
Healthcare, Inc., and its debtor-affiliates cases, asks the U.S.
Bankruptcy Court for the District of Delaware for permission to
employ Obermayer Rebmann Maxwell & Hippel LLP as its counsel.

Edmond M. George, Esq., a partner at Obermayer Rebmann, tells the
Court that although the chapter 7 trustee is a member of the firm,
Mr. Golden will not be providing legal services pursuant to this
engagement.

Obermayer Rebmann will:

    a) provide the Chapter 7 Trustee with legal advice with
       respect to his powers and duties;

    b) review proofs of claims and filing appropriate objections
       if necessary;

    c) perform all other legal services for the Chapter 7 Trustee
       which may be necessary; and

    d) other and further services as the Chapter 7 Trustee may
       from time to time request in the exercise of his business
       judgment.

The Chapter 7 Trustee tells the Court that the hourly rate of the
firm's attorneys ranges from $250 to $500.  Paralegals at the firm
bill at $110 per hour.

To the best of the Chapter 7 Trustee's knowledge, the firm is a
"disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code.

Mr. George can be reached at:

         Edmond M. George, Esq.
         Obermayer Rebmann Maxwell & Hippel LLP
         One Penn Center - 19th Floor
         1617 John F. Kennedy Boulevard
         Philadelphia, PA 19103-1895
         Tel: (215) 665-3140
         Fax: (215) 665-3165
         http://www.obermayer.com/

Lenox Healthcare, Inc., then one of the leading health care
providers in the United States, filed for chapter 11 protection on
July 10, 2001 (Bankr. D. Del. Case No. 01-2288).  The company's
operations have ceased.  On July 27, 2001, the Court appointed
Charles M. Golden as Chapter 11 Trustee to oversee the transition
of the Debtors' businesses to their secured creditors and lessors
and wind up their estates.


LIFECARE HOLDINGS: Moody's Assigns Loss-Given-Default Rating
------------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the U.S. Hospital and Long-term Care sectors this
week, the rating agency confirmed its B2 Corporate Family Rating
for LifeCare Holdings, Inc.

Additionally, Moody's revised or held its probability-of-default
ratings and assigned loss-given-default ratings on these loans and
bond debt obligations:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
   Senior Secured
   Revolving Credit
   Facility due 2010      B2       Ba3     LGD3       31%

   Senior Secured
   Term Loan due 2012     B2       Ba3     LGD3       31%

   9.25% Senior
   Subordinated
   Notes due 2013        Caa1     Caa1     LGD5       85%

Moody's explains that current long-term credit ratings are
opinions about expected credit loss, which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
umeric scale.  They express Moody's opinion of the likelihood that
any entity within a corporate family will default on any of its
debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

Headquartered in Plano, Texas, LifeCare operates 21 long-term
acute care hospitals in 12 markets throughout nine states with
1,021 licensed beds.  The company's facilities include 15 HIH and
six free-standing facilities.


LIN TELEVISION: Moody's Assigns Loss-Given-Default Ratings
----------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the US advertising and broadcasting sector, the
rating agency affirmed its Ba2 corporate family rating on LIN
Television Corporation.

Additionally, Moody's revised or held its probability-of-default
ratings and assigned loss-given-default ratings on these loans and
bond debt obligations:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
   Secured Revolver       Ba1      Baa3    LGD2        14%

   Secured Term Loan      Ba1      Baa3    LGD2        14%

   6 1/2% Sr. Subor.
   notes due 2013          B1       Ba3    LGD4        69%

   6 1/2% Sr. Subor.
   notes-cl B due 2013     B1       Ba3    LGD4        69%

   2.50% Exch. Sr. Subor.
   notes due 2033          B1       Ba3    LGD4        69%

Moody's explains that current long-term credit ratings are
opinions about expected credit loss, which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

LIN TV Corp., headquartered in Providence, Rhode Island owns and
operates 30 television stations in 18 mid-sized markets, covering
approximately 11% of U.S. television households.


MARQUEE HOLDINGS: Moody's Assigns Loss-Given-Default Ratings
------------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the Gaming, Lodging & Leisure sector, the rating
agency confirmed Marquee Holdings, Inc.'s B1 Corporate Family
Rating.

Additionally, Moody's revised or confirmed its probability-of-
default ratings and assigned loss-given-default ratings on these
debts:

   Issuer: Marquee Holdings, Inc.

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
   12% Sr. Discount
   Notes Due 2014        Caa1      B3      LGD6        95%

   Issuer: AMC Entertainment, Inc.

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
   Sr. Sec. Revolving
   Credit Facility        Ba3      Ba1     LGD2        11%

   Sr. Secured
   Term Loan              Ba3      Ba1     LGD2        11%

   Sr. Floating Rate
   Notes Due 2010         B2       Ba3     LGD3        35%

   8-5/8% Sr. Notes
   Due 2012               B2       Ba3     LGD3        35%

   9-7/8% Sr. Sub.
   Notes Due 2012         B3       B3      LGD5        81%

   11% Sr. Sub.
   Notes Due 2016         B3       B3      LGD5        81%

   9-1/2% Sr. Sub.
   Notes Due 2011         B3       B3      LGD5        81%

   8% Sr. Sub.
   Notes Due 2014         B3       B3      LGD5        81%

Moody's current long-term credit ratings are opinions about
expected credit loss, which incorporate both the likelihood of
default and the expected loss in the event of default.

The LGD rating methodology will disaggregate these two key
assessments in long-term ratings.  The LGD rating methodology will
also enhance the consistency in Moody's notching practices across
industries and will improve the transparency and accuracy of
Moody's ratings as its research has shown that credit losses on
bank loans have tended to be lower than those for similarly rated
bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% - 9%) to
LGD6 (loss anticipated to be 90% - 100%).

                    About Marquee Holdings Inc.

Based in Kansas City, Mo., Marquee Holdings Inc. is organized as
an intermediate holding company with no operations of its own.
The Company's principal directly owned subsidiaries are American
Multi-Cinema, Inc., Grupo Cinemex, S.A. de C.V., and AMC
Entertainment International, Inc.

                    About AMC Entertainment Inc.

Headquartered in Kansas City, Missouri, AMC Entertainment Inc. --
http://www.amctheatres.com/-- is a worldwide leader in the
theatrical exhibition industry.  The company serves more than 250
million guests annually through interests in 415 theatres and
5,672 screens in 12 countries including the United States.


MARSH SUPERMARKETS: Moody's Assigns Caa1 Corporate Family Rating
----------------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the U.S. and Canadian Retail sector, the rating
agency assigned its Caa1 Corporate Family Rating for Marsh
Supermarkets, Inc., and confirmed its Caa2 rating on the Company's
guaranteed senior subordinated notes.  Additionally, Moody's
assigned an LGD5 rating to those bonds, suggesting noteholders
will experience a 72% loss in the event of a default.

Moody's explains that current long-term credit ratings are
opinions about expected credit loss, which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's
alpha-numeric scale.  They express Moody's opinion of the
likelihood that any entity within a corporate family will default
on any of its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

Headquartered in Indianapolis, Indiana, Marsh Supermarkets, Inc.
(Nasdaq: MARSA & MARSB) -- http://www.marsh.net/-- is a regional
supermarket chain with stores primarily in Indiana and western
Ohio, operating 69 Marsh(R) supermarkets, 38 LoBill(R) Food
stores, eight O'Malias(R) Food Markets, 154 Village Pantry(R)
convenience stores, and two Arthur's Fresh Market(R) stores.  The
Company also operates Crystal Food Services(SM) which provides
upscale catering, cafeteria management, office coffee, coffee
roasting, vending and concessions, and Primo Banquet Catering and
Conference Centers; Floral Fashions(R), McNamara(R) Florist and
Enflora(R) -- Flowers for Business.


MECACHROME INT'L: Moody's Assigns Loss-Given-Default Ratings
------------------------------------------------------------
In connection with Moody's Investors Service's implementation
of its new Probability-of-Default and Loss-Given-Default rating
methodology, the rating agency confirmed its B2 Corporate
Family Rating for Mecachrome International Inc.  Additionally,
Moody's revised its probability-of-default ratings and assigned
loss-given-default ratings on these loans and bond debt
obligations:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
   Sr. Secured
   Revolving Credit
   Facility due 2011       B1       Ba2    LGD2        13%

   Sr. Secured Term
   Loan B due 2013         B1       Ba2    LGD2        13%

   9% Sr. Subor.
   Notes due 2014         Caa1       B3    LGD4        69%

Moody's explains that current long-term credit ratings are
opinions about expected credit loss, which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

Mecachrome International Inc. -- http://www.mecachrome.com/--  
produces precision parts for erospace, automotive, and autosport
industries.


MEDIACOM BROADBAND: Fitch Assigns B- Rating to $300 Million Notes
-----------------------------------------------------------------
Fitch Ratings assigned a 'B-' rating and 'RR5' recovery rating to
Mediacom Broadband LLC's $300 million offering of 8.5% senior
unsecured notes due 2015.  The proceeds from the note offering are
expected to be used to repay amounts outstanding under Mediacom
Broadband's subsidiary credit facility.

Mediacom Broadband is a wholly owned subsidiary of Mediacom
Communications Corporation.  The Issuer Default Rating for
Mediacom Communications Corporation and its wholly owned
subsidiaries Mediacom Broadband and Mediacom LLC is 'B'.

The Rating Outlook is Stable.

Fitch's ratings for Mediacom Communications Corporation and its
wholly owned subsidiaries Mediacom LLC and Mediacom Broadband LLC
reflect MCCC's high leverage relative to its industry peer group,
and in Fitch's opinion an operating profile that, while
demonstrating recent improvement, continues to lag behind
comparable cable multiple system operators.

Fitch's ratings incorporate the company's stable liquidity
position, upgraded cable plant as well as the geographical
clustering of the company's subscriber base.  The ratings are
supported by the expectation of continued revenue and revenue
generating unit diversification through the deepening penetration
of digital cable, advanced digital products, and high speed data
services as well as the introduction of voice over Internet
protocol telephone service.

Fitch believes that the launch of VoIP telephony services
certainly enhances MCCC's competitive positioning and provides the
company with a platform for future revenue and cash flow growth.
MCCC markets the VoIP service to approximately 1.7 million of the
company's 2.8 million homes.  MCCC expects to introduce VoIP
service to between 2.3 and 2.5 million homes by the end of 2006.

On a consolidated basis debt to LTM EBITDA was 7.4x at the end of
the second quarter reflecting a modest improvement from 7.6x as of
year end 2005.  Mediacom LLC's leverage decreased to 7.8x from
8.1x as of year end, and Mediacom Broadband LLC's leverage
increased to 7x as of June 30, 2006 compared to 6.3x as of year
end 2005.

Fitch does not expect debt levels to decline during the short term
as free cash flow generation is not expected to cover scheduled
amortization from MCCC's bank facilities.

Additionally, debt levels may increase modestly to fund stock
repurchases.  Going forward, Fitch expects leverage to remain well
above 7x during 2006 and to trend down to 7x by the end of 2007.


MESABA AVIATION: Employees Propose Plan to Save Airline & Jobs
--------------------------------------------------------------
Labor unions representing pilots, flight attendants, and mechanics
at bankrupt Mesaba Airlines presented airline management, on
Oct. 3, 2006, with an unprecedented joint offer to save their
airline, their jobs, and their contracts.

"Mesaba has over sixty years of pride as a 'Hometown Airline,'
with great people, great service, and an impeccable safety and
performance record," states Capt. Tom Wychor, chairman of the
Mesaba unit of the Air Line Pilots Association, International.
"By attacking labor, and using the court system to impose
unnecessarily severe cuts in wages and benefits, management is
destroying Mesaba.  The employees built this airline, and we are
doing our best to save it."

The Mesaba Labor Coalition has offered wage, work rule and benefit
concessions that will cut labor costs by 15% for the next three
years.  Because airline contracts do not terminate, the savings
will continue well beyond that term.  If Mesaba agrees to the
proposal, the unions would begin a ratification process
immediately.

Mesaba will not only be able to reorganize and exit successfully
from bankruptcy with the level of cuts offered by the unions, but
it would also achieve profit margins that substantially exceed
those of previous years.  Mesaba proposes to cut labor costs so
that it can achieve an 8% profit margin.  The coalition plan will
enable Mesaba to produce at least a 6% margin.  In recent years,
profit margins have dwindled to just 2-3%.

"We are not talking about the difference between Mesaba being in
the red or the black anymore," said Nathan Winch, a mechanic and
Mesaba Airline Representative for the Aircraft Mechanics Fraternal
Association.  "The Coalition's proposal guarantees that labor is
giving enough to make Mesaba profitable.  We say a 6% profit
margin is sufficient, and if management is going to liquidate over
another point or two on the margin, there is nothing we can do."

If Mesaba elects to throw out the labor contracts, the unions
intend to strike, which would end service to cities that rely on
Mesaba as their only airline transportation.  The unions may
strike when Mesaba stops adhering to the terms of their contracts.
In the wake of Mesaba's announcement that it intends to impose new
terms on Oct. 15, 2006, the unions strongly urge the traveling
public to take steps to avoid travel on Northwest Airlink on and
after that date.

"Going on strike is the last resort," said Tim Evenson, President
of the Association of Flight Attendants unit at Mesaba, "because
we would rather provide the same exceptional service that Mesaba
is known for day in and day out.  But, we will not work for wages
that qualify our members for food stamps.  Mesaba should not be
permitted to exploit the bankruptcy process to require the
government to supplement our earnings.  No citizen of this country
should have to bear that burden, especially while our holding
company harbors millions of dollars in profits earned by Mesaba in
previous years."

                      About Mesaba Aviation

Headquartered in Eagan, Minnesota, Mesaba Aviation, Inc., dba
Mesaba Airlines -- http://www.mesaba.com/-- operates as a
Northwest Airlink affiliate under code-sharing agreements with
Northwest Airlines.  The Company filed for chapter 11 protection
on Oct. 13, 2005 (Bankr. D. Minn. Case No. 05-39258).  Michael L.
Meyer, Esq., at Ravich Meyer Kirkman McGrath & Nauman PA,
represents the Debtor in its restructuring efforts.  Craig D.
Hansen, Esq., at Squire Sanders & Dempsey, L.L.P., represents the
Official Committee of Unsecured Creditors.  When the Debtor filed
for protection from its creditors, it listed total assets of
$108,540,000 and total debts of $87,000,000.


METROMEDIA INT'L: Filing Ch. 11 Plan to Consummate Asset Sale
-------------------------------------------------------------
Metromedia International Group, Inc., has received an offer to
acquire all of the Company's business interests in Georgia for a
cash price of $480 million from an investment group comprised of
Istithmar, an alternative investment house based in Dubai, United
Arab Emirates, Salford Georgia, the Georgian office of Salford
Capital Partners Inc. a private equity and investment management
company which manages investments in the CIS and Central & Eastern
Europe, and Emergent Telecom Ventures, a communications merchant
bank focused on pursuing telecommunications opportunities in the
Emerging Markets.

In response to the offer, the Company entered into an agreement
with the Offering Group providing for exclusivity in negotiations
with the Company during a 60-day due diligence period and setting
forth intended terms of a binding sale and purchase agreement to
be executed within such exclusivity period and upon conclusion of
the Offering Group's due diligence.  The Company will be obligated
to reimburse certain due diligence expenses of the Offering Group,
if the Company subsequently elects not to proceed with the
proposed sale.

If a binding sale and purchase agreement were to be executed with
the Offering Group, the Company intends to undertake the sale
through a court-supervised auction conducted in accordance with
Section 363 of 11 U.S.C, in a case to be filed in the U.S. Court
for the District of Delaware.

Given the purchase price proposed by the Offering Group, the terms
of certain agreements concluded with preferred stockholders as
described later herein, and present management estimates of
certain costs and liability settlements, holders of the Company's
common stock would likely receive approximately $1.60 per share
and holders of preferred stock approximately $71.00 per share in
the Wind-Up.

The Company and the Offering Group presently expect that a binding
sale and purchase agreement could be executed in early December
2006.  At the time of its filing, the Company also intends to
immediately file a chapter 11 plan.

Upon the approval of the plan, all of the preferred and common
equity interests in the Company will be converted into the right
to receive the cash remaining after payment of all allowed claims
and the costs and expenses associated with the sale and the Wind-
Up.

In this connection, the Company announced that it has entered into
a lock-up, support and voting agreement with representatives of
holders of approximately 80% of its 4.1 million outstanding shares
of preferred stock committing the Preferred Representatives to
support a plan in the Wind-Up providing essentially to distribute
to preferred stockholders $68 for each preferred share from Net
Distributable Cash up to $420 million and to distribute pro rata
to each preferred share one-half of Net Distributable Cash in
excess of $420 million.  The remaining balance of Net
Distributable Cash would be distributed pro rata to each common
share.

                        The Offer Agreement

The Offering Group proposes to acquire the Company's sole
ownership interest in Metromedia International Telecommunications,
Inc., which indirectly owns 50.1% of the Georgian mobile telephony
operator Magticom, 21% of Telecom Georgia, a provider of
international long distance calling services in Georgia, and 26%
of Telenet, a Georgian provider of high-speed data communication
and internet access services.

The Offering Group proposes to acquire all of the outstanding
capital stock of MITI for $480 million cash payment due at
closing.  The Company has committed to exclusively negotiating
binding terms for acquisition of these assets with the Offering
Group for a sixty-day period, during which the Offering Group will
complete its remaining due diligence work.

The parties have agreed on basic terms of a binding share purchase
agreement, which they presently expect to execute following the
completion of the Offering Group's due diligence procedures.  The
parties further agreed that Magticom could distribute to its
shareholders up to $30 million in dividends prior to the sale
without effect on the proposed purchase price for MITI, of which
MIG anticipates the receipt of approximately $13.5 million for its
50.1% economic interest in Magticom.

The Offering Group has commenced discussions with Mark Hauf, the
Company's Chairman and Chief Executive Officer, to explore with
him the possibility of continuation of his services with the
Offering Group or one of its members or their respective
affiliates.

Concerning the Offering Group's proposal, Mark Hauf, the Company's
Chairman and CEO commented: "Although it has not been the
Company's active intention to divest its remaining operating
units, we have remained open to considering compelling purchase
proposals.  The current offer, in the opinion of the Board,
represents such a proposal.  It affords an opportunity to monetize
for our stockholders the value developed in the Company through
the preceding three years of restructuring.  Seizing this
opportunity to liquidate on attractive terms also acknowledges the
extreme difficulties and significant costs the Company has faced
and will continue to face in its efforts to meet reporting
obligations as a U.S. publicly traded registrant with all of its
operations conducted in foreign emerging markets.  It also
acknowledges the practical limits the Company faces in raising
additional funds to fuel material expansion of our foreign
operations without very substantially diluting the interests of
our present stockholders.  In all, it is the judgment of the Board
that acting on the present offer represents the best opportunity
readily available to maximize value for our stockholders."

                      The Preferred Agreement

The Preferred Representatives have agreed to support a chapter 11
plan in the Wind-Up pursuant to which holders of the Company's
preferred stock would receive $68 per share from Net Distributable
Cash of $420 million or less, and one-half of any Net
Distributable Cash in excess of $420 million, allocated equally
among the preferred shares.  The balance of Net Distributable Cash
would be allocated equally among the outstanding common shares.

Since the Preferred Representatives represent holders of more than
two-thirds of the presently outstanding preferred stock, if such a
plan is approved by the Court, the plan would be binding on all
preferred stockholders.

Net Distributable Cash will consist of the cash proceeds of the
intended MITI sale plus the Company's portion of dividends
received from Magticom prior to the sale and all headquarters cash
on hand at sale closing less:

     a) any taxes arising out of the sale of assets;

     b) payments of all allowed claims in the Wind-Up case;

     c) necessary reserves for the final liquidation of the
        Company and its subsidiaries;

     d) professional fees connected with the MITI sale and pursuit
        of the Wind-Up; and

     e) Board-approved bonuses or similar payments to Company
        directors, management and employees which in an aggregate
        amount are presently estimated to equal approximately
        5%  of the MITI sale proceeds.

The Company presently estimates that Net Distributable Cash
following consummation of a $480 million MITI sale in first
quarter of 2007 and essential conclusion of the Wind-Up by the end
of first half 2007 will range from $440-450 million.

Pursuant to the plan of distribution agreed with the Preferred
Representatives, this would result in distribution of $70.42 to
$71.62 for each preferred share and $1.58 to $1.63 for each common
share.  By the end of first half 2007, the combined face value
plus accumulated unpaid dividends that would otherwise be due to
the preferred stockholders would be in aggregate approximately
$325 million or $78.50 per preferred share outstanding.

Concerning the distribution arrangements agreed between the
Company and the Preferred Representatives, Mr. Hauf further
commented: "There has been longstanding disagreement among holders
of the Company's two classes of stock concerning the claim each
might have on enterprise value generated through resolution of the
Company's earlier financial difficulties.  In reaching this
agreement with preferred stockholders, we acknowledged the
priority nature of their rapidly increasing claim in the event the
Company faced liquidation of its remaining assets.  Given the
practical limitations imposed by the Company's present and
historical condition on raising significant additional investment
capital, the prospect of the eventual sale of foreign operating
assets rather than their continued aggressive development has been
ever present.  If undertaken without some concession by the
preferred stockholders, such sale would result in distributions to
our common stockholders of materially less than market trading
price.  The opportunity presented by the Offering Group's
acquisition proposal and the concessions agreed with the Preferred
Representatives enable the Company to wrap up its operations while
still delivering to our common stockholders an amount exceeding
the Company's ninety calendar day average trading price for the
common stock."

                   Effect on Georgian Operations

Concerning the Offering Group's proposed purchase of MITI, a
spokesperson for the Offering Group stated: "We are very
enthusiastic about this opportunity.  We are confident about
Georgia's investment climate and its potential for further
economic growth.  Magticom is a great company with an excellent
track record of growth, profitability and client service.  We plan
to actively build on this track record."

                         About Metromedia

Based in Charlotte, North Carolina, Metromedia International Group
(PINK SHEETS: MTRM-Common Stock and MTRMP-Preferred Stock)
-- http://www.metromedia-group.com/-- through its subsidiary,
Metromedia International Telecommunications, owns interests in
telecom and cable TV operations in Russia, Georgia, and elsewhere
in Eastern Europe.

The Company's core businesses includes Magticom, Ltd., the leading
mobile telephony operator in Tbilisi, Georgia, and Telecom
Georgia, a well-positioned Georgian long distance telephony
operator.

                           *     *     *

Moody's Investors Service has placed Metromedia's subordinated
debt rating at B3 and junior subordinated debt rating at B2.


METROMEDIA INT'L: Magticom Earns $63.4 Million in Fiscal 2005
-------------------------------------------------------------
Metromedia International Group, Inc., has released the preliminary
unaudited financial results, for the fiscal year ended
Dec. 31, 2005, for its principal Georgian business, Magticom
Limited.

Highlights for the full-year 2005 vs. full-year 2004 include:

    --  revenues of $146.1 million, an improvement of 43% compared
        to $102 million generated in the prior year;

    --  Net income of $63.4 million, as compared to $50.3 million
        of net income earned in 2004; and

    --  EBITDA of $97.8 million vs. $73.3 million in 2004

Commenting on this announcement, Ernie Pyle, the Company's Chief
Financial Officer, said: "This press release contains the
preliminary unaudited financial results for Magticom and as such
this financial information is subject to adjustment until such
time that the Company files its respective periodic reports with
the United States Securities and Exchange Commission."

Mr. Pyle further stated: "We anticipate that Magticom will realize
the full year 2006 EBITDA of approximately $115 million projected
in Magticom's 2006 Business Plan as approved by its shareholders.
Such information, together with the 2004-2005 financial
performance results of Magticom, included herein, should enable
the Company's stakeholders to evaluate the attractiveness of the
proposed sale of substantially all of the assets of MIG, as
discussed in a parallel press release distributed [Mon]day."

Magticom, the leading mobile telephony operator in Tbilisi,
Georgia, in which the Company presently owns a 50.1% ownership
interest, operates a wireless communications network and markets
mobile voice communication services to private and commercial
users nationwide in the country of Georgia.  Magticom's network
offers services using GSM standards in both the 900 MHz and 1800
MHz spectrum range and has recently launched 3rd Generation GSM
mobile voice, data and video services using the 2.1 GHz radio
frequency spectrum.  Prior to mid-February 2005, the Company had a
34.5% ownership interest in Magticom.

                         About Metromedia

Based in Charlotte, North Carolina, Metromedia International Group
(PINK SHEETS: MTRM-Common Stock and MTRMP-Preferred Stock)
-- http://www.metromedia-group.com/-- through its subsidiary,
Metromedia International Telecommunications, owns interests in
telecom and cable TV operations in Russia, Georgia, and elsewhere
in Eastern Europe.

The Company's core businesses includes Magticom, Ltd., the leading
mobile telephony operator in Tbilisi, Georgia, and Telecom
Georgia, a well-positioned Georgian long distance telephony
operator.

                           *     *     *

Moody's Investors Service has placed Metromedia's subordinated
debt rating at B3 and junior subordinated debt rating at B2.


MISSION ENERGY: S&P Upgrades Ratings to B With Positive Outlook
---------------------------------------------------------------
Standard & Poor's Ratings Services raised its ratings on Mission
Energy Holding Co. to 'B' from 'B-', and those on subsidiaries
Edison Mission Energy, Edison Mission Marketing and Trading Inc.,
and Edison Mission Energy Funding Corp. to 'BB-' from 'B+'.

The outlook is positive.

"The rating action reflects management's revised view of the
availability of its parent, Edison International, and affiliate
companies to make capital contributions to further expand the
unregulated Edison Mission Group companies," said Standard &
Poor's credit analyst David Bodek.

Standard & Poor's also raised its senior secured debt rating and
first lien term loan rating on Midwest Generation LLC to 'BB' from
'BB-'.

The upgrades reflect the movement of the affected companies'
credit quality toward the consolidated Edison International
companies' credit quality.  The rating upgrades coincide with the
downgrade of Edison International to 'BBB-' from 'BBB'.

The rating action on Edison International also reflects the
movement toward a consolidated credit profile of the parent and
its unregulated subsidiaries.  The outlook on Edison International
is stable.

The positive outlook on the Edison Mission Group companies
reflects the potential benefit that may result from the
anticipated retirement of about $800 million of MEHC debt in 2008.

The ratings on EME, MEHC, Edison Mission Marketing and Trading,
Edison Mission Energy Funding, and Midwest Gen, continue to
reflect the credit quality of the distributable cash flow from a
portfolio of generating assets.  The ratings also takes into
account the financial risk of double and triple leverage at EME
and MEHC.

EME is an independent power producer and, through Edison Mission
Marketing and Trading, the company is involved in power marketing
and trading.


MONTECITO BROADCAST: Moody's Assigns Loss-Given-Default Ratings
---------------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the US advertising and broadcasting sector, the
rating agency affirmed its B2 corporate family rating on Montecito
Broadcast Group, LLC.

Additionally, Moody's revised or held its probability-of-default
ratings and assigned loss-given-default ratings on these loans and
bond debt obligations:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
   Secured first
   lien revolver          B1       B1      LGD3       34%

   Secured first
   lien term loan         B1       B1      LGD3       34%

   Secured second
   lien term loan         B3      Caa1     LGD5       87%

Moody's explains that current long-term credit ratings are
opinions about expected credit loss, which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

Montecito Broadcast Group, LLC, headquartered in Montecito,
California, is a television broadcaster comprised of stations
located in Oregon, Kansas, and Hawaii.


MOOG INC: Moody's Assigns Loss-Given-Default Ratings
----------------------------------------------------
In connection with Moody's Investors Service's implementation
of its new Probability-of-Default and Loss-Given-Default
rating methodology, the rating agency confirmed its Ba2 Corporate
Family Rating for Moog Inc. and its Ba3 rating on the company's
6.50% Sr. Subordinated Notes due 2015.  Moody's assigned those
debentures an LGD5 rating suggesting noteholders will experience a
73% loss in case of default.

Moody's explains that current long-term credit ratings are
opinions about expected credit loss, which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

Based in East Aurora, New York, Moog Inc. -- http://www.moog.com/
-- is a worldwide designer, manufacturer, and integrator of
precision control components and systems.  Moog's high-performance
systems control military and commercial aircraft, satellites and
space vehicles, launch vehicles, missiles, automated industrial
machinery, and medical equipment.


MTR GAMING: Moody's Assigns Loss-Given-Default Ratings
------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the Gaming, Lodging & Leisure sector, the rating
agency confirmed MTR Gaming Group, Inc.'s B1 Corporate Family
Rating.

Additionally, Moody's revised or confirmed its probability-of-
default ratings and assigned loss-given-default ratings on these
notes:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
9.75% Senior
Unsecured Notes           B2       B1      LGD3        46%

Senior Subordinated
Notes                     B3       B3      LGD5        85%

Moody's current long-term credit ratings are opinions about
expected credit loss, which incorporate both the likelihood of
default and the expected loss in the event of default.

The LGD rating methodology will disaggregate these two key
assessments in long-term ratings.  The LGD rating methodology will
also enhance the consistency in Moody's notching practices across
industries and will improve the transparency and accuracy of
Moody's ratings as its research has shown that credit losses on
bank loans have tended to be lower than those for similarly rated
bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% - 9%) to
LGD6 (loss anticipated to be 90% - 100%).

MTR Gaming Group, Inc. owns and operates the Mountaineer Race
Track & Gaming Resort in Chester, West Virginia; Scioto Downs in
Columbus, Ohio; the Ramada Inn and Speedway Casino in North Las
Vegas, Nevada; Binion's Gambling Hall & Hotel in Las Vegas,
Nevada; and holds a license to build Presque Isle Downs, a
thoroughbred racetrack with pari-mutuel wagering in Erie,
Pennsylvania.  The company also owns a 50% interest in the North
Metro Harness Initiative, LLC, which has a license to construct
and operate a harness racetrack and card room outside Minneapolis,
Minnesota and a 90% interest in Jackson Trotting Association, LLC,
which operates Jackson Harness Raceway in Jackson, Michigan.


NEPTUNE PROPERTIES: Keen Auctioning Lake Tyler Development
----------------------------------------------------------
Jason Searcy, Esq., the Chapter 11 Trustee appointed in Neptune
Properties, L.P., and Reunion Harbor, Inc.'s bankruptcy cases,
retained Keen Realty, LLC, as his agent to market and sell the
Debtors' interests in an 830-acre "upscale, lakefront subdivision
and community resort" located on Lake Tyler in Tyler, Texas.

Keen describes the property as a "remarkable opportunity for
residential developers, resort and timeshare developers and
investors."  Keen is accepting bids until Dec. 8, 2006, and will
hold an auction on Dec. 13, 2006.  The sale will be subject to
final approval by Judge Parker of the United States Bankruptcy
Court for the Eastern District of Texas, Tyler Division.

For additional information about the property and bidding
procedures, contact:

          KEEN REALTY, LLC
          60 Cutter Mill Road, Suite 214
          Great Neck, NY 11021
          Telephone (516) 482-2700
          http://www.keenconsultants.com/

Neptune Properties, LP, and Reunion Harbor, Inc., filed for
chapter 11 protection (Bankr. E.D. Tex. Case Nos. 06-60126 and 06-
60127) on March 29, 2006.  At that time, the Debtors projected
assets available for distribution to unsecured creditors.


NORTEL NETWORKS: Partners with Golden West in Wireline Deal
-----------------------------------------------------------
Golden West Telecom and Venture Communications Cooperative, both
independent telecommunications companies servicing South Dakota,
will deliver new converged communications services in small towns
and rural areas throughout South Dakota with Nortel Networks
Corporation.

By deploying Nortel's Carrier VoIP solution, the two carriers will
evolve their wireline networks to packet-based infrastructure that
reduce operation costs by leveraging SIP technology to deliver a
wide range of advanced communication services such as VoIP,
Centrex IP business services and next-generation multimedia
communications.

Golden West serves approximately 47,000 subscribers and has been a
Nortel customer for nearly three decades.  As part of this
deployment Nortel is expanding its role in Golden West's network
by displacing a competitor's solution.

Nortel has been a key supplier to Venture Communication's network
since 1980.  Venture Communications provides communications
services to more than 13,500 subscribers.

Golden West and Venture Communications will deploy Nortel's IMS-
ready Communications Server (CS 1500), which builds on Nortel's
leadership position in SIP and VoIP, to allow carriers to support
the traditional voice services needed today while laying the
foundation for future IMS-based multimedia services tomorrow.
Nortel is also providing engineering, installation, project
management, security assessment, and network support services from
the Nortel Global Services portfolio.

                         About Golden West

Golden West Telecom -- http://www.goldenwest.com/-- is the
largest independent telecommunications company serving South
Dakota.  The company and its subsidiaries provide telephone,
paging, and Internet services to over 60,000 customers.

                   About Venture Communications

Based in Highmore, South Dakota, Venture Communications
Cooperative -- http://www.venturecomm.net/-- is an independent
telecommunications provider servicing central and northeastern
South Dakota.

                       About Nortel Networks

Headquartered in Ontario, Canada, Nortel Networks Corporation
(NYSE/TSX: NT) -- http://www.nortel.com/-- delivers technology
solutions encompassing end-to-end broadband, Voice over IP,
multimedia services and applications, and wireless broadband
designed to help people solve the world's greatest challenges.
Nortel does business in more than 150 countries.

                           *     *     *

As reported in the Troubled Company Reporter on July 10, 2006,
Dominion Bond Rating Service confirmed the long-term ratings of
Nortel Networks Capital Corporation, Nortel Networks Corporation,
and Nortel Networks Limited at B (low) along with the preferred
share ratings of Nortel Networks Limited at Pfd-5 (low).  All
trends are Stable.

DBRS confirmed B (low) Stb Senior Unsecured Notes; B (low) Stb
Convertible Notes; B (low) Stb Notes & Long-Term Senior Debt;
Pfd-5 (low) Stb Class A, Redeemable Preferred Shares; and Pfd-5
(low) Stb Class A, Non-Cumulative Redeemable Preferred Shares.

As reported in the Troubled Company Reporter on June 20, 2006,
Moody's Investors Service affirmed the B3 corporate family rating
of Nortel; assigned a B3 rating to the proposed US$2 billion
senior note issue; downgraded the US$200 million 6.875% Senior
Notes due 2023 and revised the outlook to stable from negative.

Standard & Poor's also affirmed its 'B-' long-term and 'B-2'
short-term corporate credit ratings on the company, and assigned
its 'B-' senior unsecured debt rating to the company's proposed
$2 billion notes.  The outlook is stable.


NORTH AMERICAN: Confirmation Hearing Set on October 26
------------------------------------------------------
The U.S. Bankruptcy Court for the Western District of Pennsylvania
will convene a hearing at 9:00 a.m., on Oct. 26, 2006, to consider
confirmation of North American Refractories Company's Third
Amended Reorganization Plan.

Headquartered in Pittsburgh, Pennsylvania, North American
Refractories Company, was engaged in the manufacture and non-
retail sale of refractory bricks and related products.  The
Company filed for chapter 11 protection on January 4, 2002 (Bankr.
W.D. Pa. Case No. 02-20198).  Paul M. Singer, Esq., of Pittsburgh
represents the Debtor.  When the Debtor filed for protection from
its creditors, it listed $27,559,000,000 in assets and
$18,634,000,000 in debts.


NORTH ATLANTIC: Moody's Assigns Loss-Given-Default Ratings
----------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the US Consumer Products, Beverage, Toy, Natural
Product Processors, Packaged Food Processors and Agricultural
Cooperative sectors, the rating agency confirmed its B3 Corporate
Family Rating for North Atlantic Trading Company.

Additionally, Moody's revised and held its probability-of-default
ratings and assigned loss-given-default ratings on these loans and
bond debt obligations:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
   $200 million
   Senior Notes         Caa1     Caa1     LGD4     58%

North Atlantic Holding Company

   $35 million
   Sr. Discount
   Notes                Ca       Caa2      LGD6    94%

Moody's explains that current long-term credit ratings are
opinions about expected credit loss, which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

North Atlantic Trading Company, Inc. is a holding company which
owns National Tobacco Company, L.P. and North Atlantic Operating
Company, Inc.

National Tobacco Company is a manufacturer and marketer of loose
leaf chewing tobacco, and an importer and distributor of premium
cigarette papers and related products in the United States.


NORTHWEST AIRLINES: Provides Earnings Outlook for 2006
------------------------------------------------------
Northwest Airlines provided these earnings outlook for 2006:

    -- since September, Northwest has experienced a softening in
       revenue, similar to trends reported by other carriers;

    -- for the months of September through December, Northwest
       anticipates that it will realize a loss for this period,
       excluding reorganization items;

    -- for full year 2006, based on the airline's current fuel and
       revenue estimates, Northwest is forecasting a modest profit
       with an estimated pre-tax margin of approximately two
       percent, excluding reorganization items, on more than
       $12 billion in revenue.

For the first six months of the year, Northwest reported a
$50 million profit, excluding reorganization items, on revenues of
more than $6 billion.  During the seasonally strong summer months
of July and August, Northwest reported a profit of $272 million,
excluding reorganization items, on $2.4 billion in revenues.

"This expected modest full year profit is testament to the success
of our ongoing restructuring efforts and the substantial
sacrifices made by our employees and other Northwest
stakeholders," said Doug Steenland, Northwest president and chief
executive officer.

"The full year profit outlook is also partially reflective of
Northwest's reduced capacity.  For full year 2006, we expect that
our systemwide consolidated available seat miles will be
approximately eight percent lower than 2005."

Mr. Steenland continued, "While a full year profit would be an
important accomplishment in the restructuring efforts at Northwest
and would help us continue to attract necessary capital, we still
have work to do to meet our long-term pre-tax margin goal of six
to seven percent, which will allow Northwest to compete
successfully in the future and acquire and finance new aircraft."

"Reversing $4.2 billion in losses since early 2001 is not an easy
task, but one that is essential to the future of Northwest.  We
realize that a number of key stakeholders, especially our
employees, have made difficult and painful sacrifices to help the
airline reach this juncture in its restructuring process."

Steenland added, "A key element of our restructuring plan that has
been addressed through collaboration with our employees is the
preservation of our defined benefit pension plans.  By working
with Northwest union leaders, employees and Congress, we were able
to help bring about new pension funding rules that allow Northwest
to provide the pension benefits that our employees have justly
earned."

"[Monday's] full-year projection is an indication that we are
making progress towards our goal of achieving long-term
profitability for the airline. By achieving profitability, our
employees will share in Northwest's success through job and
retirement security and gain sharing opportunities that we have
put in place for our employees."

"Because of continuing progress in addressing our restructuring
goals of resizing and optimizing the Northwest fleet and level of
flying; realizing competitive labor and non-labor costs; and
restructuring and recapitalizing the airline's balance sheet, we
remain focused on emerging from Chapter 11 protection by the
middle of next year," Mr. Steenland concluded.

Northwest Airlines Corp. (OTC: NWACQ) -- http://www.nwa.com/
-- is the world's fourth largest airline with hubs at Detroit,
Minneapolis/St. Paul, Memphis, Tokyo and Amsterdam, and
approximately 1,400 daily departures.  Northwest is a member of
SkyTeam, an airline alliance that offers customers one of the
world's most extensive global networks.  Northwest and its travel
partners serve more than 900 cities in excess of 160 countries on
six continents.  The Company and 12 affiliates filed for chapter
11 protection on Sept. 14, 2005 (Bankr. S.D.N.Y. Lead Case No.
05-17930).  Bruce R. Zirinsky, Esq., and Gregory M. Petrick, Esq.,
at Cadwalader, Wickersham & Taft LLP in New York, and Mark C.
Ellenberg, Esq., at Cadwalader, Wickersham & Taft LLP in
Washington represent the Debtors in their restructuring efforts.
The Official Committee of Unsecured Creditors has retained Akin
Gump Strauss Hauer & Feld LLP as its bankruptcy counsel in the
Debtors' chapter 11 cases.  When the Debtors filed for protection
from their creditors, they listed $14.4 billion in total assets
and $17.9 billion in total debts.


OLD WORLD: Case Summary & 18 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: Old World Bakery, Wholesale, Inc.
        dba Old World Bakery
        dba Champion Distributing Company
        fka Bagels By The Sea, Wholesale, Inc.
        5509 Northeast 122nd Avenue, Suite 430
        Portland, OR 97230-1134

Bankruptcy Case No.: 06-33039

Type of Business: The Debtor produces bagels, pita bread, and
                  other baked goods.
                  See http://www.oldworldbakery.com/

Chapter 11 Petition Date: September 2, 2006

Court: District of Oregon (Portland)

Judge: Randall L. Dunn

Debtor's Counsel: Robert J. Vanden Bos, Esq.
                  Vanden Bos & Chapman, LLP
                  Suite 520, The Spalding Building
                  319 Southwest Washington Street
                  Portland, OR 97204
                  Tel: (503) 241-4869
                  Fax: (503) 241-3731

Estimated Assets: $500,000 to $1 Million

Estimated Debts:  $1 Million to $10 Million

Debtor's 18 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Craig J. Liddell                   Investor               $56,148
3950 Ridge Lane
West Linn, OR 97068-2927

Sysco Food Services of             Trade Debt             $50,000
Portland, Inc.
26250 Southwest Parkway
Center Drive
Wilsonville, OR 97070-9606

BakeMark                           Trade Debt             $47,551
6555 Southwest 111th Avenue
Beaverton, OR 97008-5339

U.S. Bank                          Trade Debt             $44,152
P.O. Box 790408
Saint Louis, MO 63179-0408

Kidder Mathews                     Trade Debt             $19,854
P.O. Box 223197
Pittsburgh, PA 15251-2197

Donut Day                          Trade Debt             $19,200

Teeny Foods                        Trade Debt             $16,758

Dawn Foods                         Trade Debt             $12,834

Seaside Bagels, LLC                Trade Debt             $11,050

Atlas Bakery                       Trade Debt              $7,901

Platinum Plus for Business         Trade Debt              $5,709

Michael Kavanaugh                  Trade Debt              $4,921

Chevron                            Trade Debt              $4,290

Dell Financial Services            Trade Debt              $3,929

Northwest Butcher Supply           Trade Debt              $3,658

Wells Fargo Financial Bank         Trade Debt              $3,375

Stark Law Offices                  Legal Fees              $3,105

Pacific Power                      Utility                 $2,838


ONETRAVEL INC: Sells Substantially All Assets to OTV Acquisition
----------------------------------------------------------------
OneTravel Holdings, Inc. and certain of its wholly-owned
subsidiaries, OneTravel, Inc. and Farequest Holdings, Inc.,
executed a definitive Bill of Sale, Assignment and Assumption
Agreement on Sept. 28, 2006, to sell substantially all of the
assets of OneTravel and assign certain liabilities of OneTravel to
OTV Acquisition Co., an affiliate of Palisades Master Fund, L.P.

Previously, OneTravel filed a motion with the U.S. Bankruptcy
Court for the Western District of Texas Midland Division seeking
an order approving procedures to sell certain assets free and
clear of liens, claims and encumbrances.  The Bankruptcy Court
approved the motion, and OneTravel provided notice of the sale
hearing and bid procedures to interested persons, but no
qualifying cash bids were received.

Pursuant to a further order of the Bankruptcy Court, Palisades
Master Fund, L.P., as collateral agent under the Security
Agreement, dated as of Oct. 29, 2005, as amended, between the
Company and the holders of the 9% Secured Convertible Debentures
Due 2008 and 2009, was allowed to credit bid through Buyer, acting
as agent to Palisades, the pre-petition claims arising under the
Debentures toward the purchase of substantially all of the assets
of OneTravel.  Accordingly, OneTravel entered into the Bill of
Sale with Buyer, pursuant to which Buyer will acquire the assets
of OneTravel by credit bidding the Debentures based on a starting
value of $10,500,000 and adjusted for:

   (a) cure costs of $1,333,000,

   (b) payments to/refinancing of senior lien holders of $750,000,
       and

   (c) assumed liabilities, including accounts payable and
       employee obligations but excluding cure costs, of
       $1,612,000, resulting in a final credit bid of $6,805,000.

The amount of the secured claim on account of the Debentures is
$15,625,000.

Pursuant to the Bill of Sale, OneTravel consummated the sale of
substantially all of their assets and the assignment of certain
liabilities to OTV Acquisition Co. as of Sept. 28, 2006.  The sale
was conducted under Section 363 of the Bankruptcy Code, pursuant
to which the assets were sold free and clear of all liens, claims
and encumbrances.  The Bankruptcy Court had approved the sale by
an order signed on Sept. 19, 2006.

Following the closing under the Bill of Sale, OneTravel and its
subsidiaries intend to evaluate whether to file a liquidating plan
of reorganization, convert the Chapter 11 case to a liquidating
case under Chapter 7, or dismiss the case.  Management is unable
to predict whether any amounts will be available for distribution
to stockholders.

                      About OneTravel Inc.

Headquartered in Atlanta, Georgia, OneTravel, Inc. --
http://www.onetravel.com/-- offers comprehensive travel and
lodging services.  The Company and its debtor-affiliates filed for
chapter 11 protection on July 7, 2006 (Bankr. W.D. Tex. Case Nos.
06-70084 to 06-70088).  Carol E. Jendrzey, Esq., at Cox Smith
Matthews, Inc., represents the Debtors.  When the Debtors filed
for protection from their creditors, they estimated assets and
debts between $1 million to $10 million.


OPBIZ LLC: Moody's Assigns Loss-Given-Default Ratings
-----------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the Gaming, Lodging & Leisure sector, the rating
agency confirmed OpBiz, LLC's B3 Corporate Family Rating.

Additionally, Moody's upgraded its probability-of-default ratings
and assigned loss-given-default ratings on these loans:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
   Term Loan A            B3       B2      LGD3        40%

   Term Loan B            B3       B2      LGD3        40%

Moody's current long-term credit ratings are opinions about
expected credit loss, which incorporate both the likelihood of
default and the expected loss in the event of default.

The LGD rating methodology will disaggregate these two key
assessments in long-term ratings.  The LGD rating methodology will
also enhance the consistency in Moody's notching practices across
industries and will improve the transparency and accuracy of
Moody's ratings as its research has shown that credit losses on
bank loans have tended to be lower than those for similarly rated
bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% - 9%) to
LGD6 (loss anticipated to be 90% - 100%).

                         About OpBiz, LLC

OpBiz, LLC, a subsidiary of BH/RE, LLC, acquired the Aladdin
Resort and Casino (located in Las Vegas, Nevada) out of Chapter 11
bankruptcy in September 2004.

OpBiz, along with its parent company, BH/RE, LLC and subsidiaries,
were formed to acquire, operate and renovate the Aladdin.  OpBiz
has entered into an agreement with Planet Hollywood to license
Planet Hollywood's trademarks.  The renovation project will
transform the Aladdin into the Planet Hollywood Resort and Casino.

OpBiz has also entered into an agreement with Sheraton pursuant to
which Sheraton will provide hotel management, marketing and
reservation services for the hotel that will comprise a portion of
Planet Hollywood Resort and Casino.


OVERWATCH SYSTEMS: Moody's Assigns Loss-Given-Default Ratings
-------------------------------------------------------------
In connection with Moody's Investors Service's implementation
of its new Probability-of-Default and Loss-Given-Default rating
methodology, the rating agency revised its B2 Corporate
Family Rating for Overwatch Systems LLC to B3.  Additionally,
Moody's revised its probability-of-default ratings and assigned
loss-given-default ratings on these loans and bond debt
obligations:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
   Sr. Secured
   Revolving Credit
   Facility due 2011       B2       B2     LGD3        35%

   Sr. Secured Term
   Loan B due 2011         B2       B2     LGD3        35%

Moody's explains that current long-term credit ratings are
opinions about expected credit loss, which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

Overwatch Systems - http://www.overwatch.com/-- develops software
tools for the U.S. military.


PACER HEALTH: June 30 Stockholders' Deficit Tops $3.4 Million
-------------------------------------------------------------
Pacer Health Corporation's balance sheet at June 30, 2006, showed
$25,788,110 in total assets and $29,235,290 in total liabilities,
resulting in a $3,447,180 stockholders' deficit.

The Company's June 30 balance sheet also showed strained liquidity
with $4,408,915 in total current assets available to pay
$15,872,012 in total current liabilities coming due within the
next 12 months.

For the three months ended June 30, 2006, the Company reported a
$3,526,994 net loss on $5,427,954 of total revenues, compared with
a $846,459 net loss on $1,380,104 of total revenues for the same
period in 2005.

Full-text copies of the Company's second quarter financials are
available for free at http://ResearchArchives.com/t/s?12d5

                  About Pacer Health Corporation

Miami, Nev.-based Pacer Health Corporation (OTCBB: PHLH) --
http://www.pacerhealth.com/-- owns and operates medical treatment
centers and acute care facilities, primarily serving the growing
senior citizen population and low-to-moderate income individuals.


PAXSON COMMS: Moody's Assigns Loss-Given-Default Ratings
--------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the US advertising and broadcasting sector, the
rating agency affirmed Paxson Communications Corporation's B3
corporate credit rating.

In addition, Moody's revised or held its probability-of-default
ratings and assigned loss-given-default ratings on these loans and
bond debt obligations:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
   Floating Rate
   First Priority Sr.
   Secured Notes
   Due 2012               B2       B1      LGD2        29%

   Floating Rate
   Second Priority Sr.
   Secured Notes
   Due 2013               B3      Caa2     LGD5        82%

   14.25% junior exch.
   preferred stk.
   due 2006              Caa2     Caa2     LGD6       100%

Moody's explains that current long-term credit ratings are
opinions about expected credit loss, which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

Paxson Communications Corporation, nka ION Media Networks --
http://www.paxson.com/-- is a network television broadcasting
company that owns and operates the largest broadcast television
station group in the U.S., as measured by the number of television
households in the markets its stations serve.  The Company owns
and operates 60 broadcast television stations (including three
stations we operate under time brokerage agreements), all of which
carry its flagship i network programming, including stations
reaching all of the top 20 U.S. markets.


PENINSULA GAMING: Moody's Places LGD4 Rating to 8-3/4% Sr. Notes
----------------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the Gaming, Lodging & Leisure sector, the rating
agency confirmed Peninsula Gaming, LLC's B2 Corporate Family
Rating.

Moody's downgraded the Company's probability-of-default rating on
its 8-3/4% Senior Secured Notes to B3 from B2.  Additionally,
Moody's assigned an LGD4 rating to these notes, suggesting
noteholders will experience a 62% loss in the event of a default.

Moody's current long-term credit ratings are opinions about
expected credit loss, which incorporate both the likelihood of
default and the expected loss in the event of default.

The LGD rating methodology will disaggregate these two key
assessments in long-term ratings.  The LGD rating methodology will
also enhance the consistency in Moody's notching practices across
industries and will improve the transparency and accuracy of
Moody's ratings as its research has shown that credit losses on
bank loans have tended to be lower than those for similarly rated
bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% - 9%) to
LGD6 (loss anticipated to be 90% - 100%).

Headquartered in Dubuque, Iowa, Peninsula Gaming, LLC, owns and
operates the Evangeline Downs pari-mutuel horse racetrack and
casino in Opelousas, Louisiana, and the Diamond Jo riverboat
casino in Dubuque, Iowa.  Through a wholly-owned unrestricted
subsidiary, the company is in the process of constructing a new
casino property in Worth County, Iowa.


PENN TRAFFIC: Chief Executive Officer Robert Chapman Resigns
------------------------------------------------------------
Robert Chapman, President and CEO, retired from The Penn Traffic
Company and resigned from the Board of Directors of the Company
effective Oct. 2, 2006.

Gregory J. Young, Penn Traffic's Senior Vice President, Chief
Marketing and Distribution Officer, and Robert Panasuk, formerly
Executive Vice President at A&P, have been named Co-Chief
Operating Officers.

Mr. Young has been with Penn Traffic since July of this year.
Before joining Penn Traffic, he headed the retail operations of
C&S Wholesale Grocers.  Previously he was a Group Vice President
of A&P. His areas of responsibility will include merchandising,
marketing, distribution, wholesale and franchise operations,
bakery manufacturing, information technology and internal audit.

Mr. Panasuk was most recently Executive Vice President of A&P
where has was responsible for merchandising, marketing and
distribution for U.S. operations.  His areas of responsibility at
Penn Traffic will include store operations, human resources,
finance, legal, real estate, construction and maintenance.

"Bob Chapman played a very important role by leading the company
out of chapter 11 and did so in a very competitive environment,"
Mr. Kelly, Chairman of the Board of Directors of Penn Traffic,
said.  "He devoted a large part of his life to Penn Traffic. Bob
is respected by our employees, vendors and the community and he
will be missed by us all."

"Greg Young has a proven track record in generating sales growth
and improving the merchandising of the supermarkets he has been
associated with," said Mr. Kelly and "Bob Panasuk is a veteran
supermarket executive with an impressive history of implementing
operations improvements and cost reduction. He will play a crucial
role by bringing these skills to Penn Traffic."

Headquartered in Rye, New York, The Penn Traffic Company
(OTC:PTFC) operates 109 supermarkets in Pennsylvania, upstate New
York, Vermont and New Hampshire under the BiLo, P&C and Quality
trade names.  Penn Traffic also operates a wholesale food
distribution business serving 80 licensed franchises and 39
independent operators.  The Company filed for chapter 11
protection on May 30, 2003 (Bankr. S.D.N.Y. Case No. 03-22945).
Kelley Ann Cornish, Esq., at Paul Weiss Rifkind Wharton &
Garrison, represents the Debtors in their restructuring efforts.
When the grocer filed for protection from their creditors, they
listed $736,532,614 in total assets and $736,532,610 in total
debts.  The Court confirmed the Debtor's First Amended Plan of
Reorganization on March 17, 2005.  The Plan took effect on
Apr. 13, 2005.

                     Annual Financials Delay

As reported in the Troubled Company Reporter on Aug. 15, 2006,
in light of the governmental investigations seeking information
relating to The Penn Traffic Company's promotional and allowance
practices and policies, Penn Traffic would be further delaying the
finalization and release of its audited financial statements for
its 2003, 2004, 2005 and 2006 fiscal years.

                   Lenders' Extended Deadline

At Penn Traffic's request, lenders under its $164 million
revolving credit facilities have agreed to extend the Sept. 30,
2006 deadline for delivery of its audited financial statements to
Dec. 31, 2006, enabling Penn Traffic to continue to access fully
its working capital facility.


PINNACLE ENTERTAINMENT: Moody's Assigns Loss-Given-Default Ratings
------------------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the Gaming, Lodging & Leisure sector, the rating
agency confirmed Pinnacle Entertainment, Inc.'s B2 Corporate
Family Rating.

Additionally, Moody's revised or confirmed its probability-of-
default ratings and assigned loss-given-default ratings on these
loans:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
5-Year Senior
Secured Revolver          B1       B1      LGD3        34%

6-Year Senior
Secured Term Loan         B1       B1      LGD3        34%

Delayed Draw
Term Loan                 B1       B1      LGD3        34%

8.25% Senior
Subordinated Notes       Caa1     Caa1     LGD5        87%

8.75% Senior
Subordinated Notes       Caa1     Caa1     LGD5        87%

Moody's current long-term credit ratings are opinions about
expected credit loss, which incorporate both the likelihood of
default and the expected loss in the event of default.

The LGD rating methodology will disaggregate these two key
assessments in long-term ratings.  The LGD rating methodology will
also enhance the consistency in Moody's notching practices across
industries and will improve the transparency and accuracy of
Moody's ratings as its research has shown that credit losses on
bank loans have tended to be lower than those for similarly rated
bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% - 9%) to
LGD6 (loss anticipated to be 90% - 100%).

Headquartered in Las Vegas, Nevada, Pinnacle Entertainment, Inc.
(NYSE: PNK) -- http://www.pnkinc.com/-- owns and operates casinos
in Nevada, Louisiana, Indiana and Argentina, owns a hotel in
Missouri, receives lease income from two card club casinos in the
Los Angeles metropolitan area, has been licensed to operate a
small casino in the Bahamas, and owns a casino site and has
significant insurance claims related to a hurricane-damaged casino
previously operated in Biloxi, Mississippi.  Pinnacle opened a
major casino resort in Lake Charles, Louisiana in May 2005 and a
new replacement casino in Neuquen, Argentina, in July 2005.


PINNACLE ENTERTAINMENT: S&P Affirms BB- Rating With Stable Outlook
------------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'BB-' rating and
'1' recovery rating following Pinnacle Entertainment Inc.'s
proposed $250 million senior secured bank facility add-on.

Proceeds from the proposed add-on will be used to improve overall
financing flexibility, in particular as it relates to Pinnacle's
agreement to acquire the entities that own The Sands and Traymore
sites in Atlantic City.

The corporate credit rating on the Las Vegas-based casino owner
and operator is 'B+' and the outlook is stable.  Total debt
outstanding at June 30, 2006, was about $637 million.

Despite the expectation for continued good operating performance
over the intermediate term, Pinnacle is in the midst of an
aggressive expansion phase aimed at enhancing its portfolio of
casino assets.  As a result, cushion needs to be maintained in its
overall financial profile to accommodate this growth strategy.

An outlook revision to negative is possible if debt leverage, over
the next several years, increases materially above 6x as a result
of operating weakness or the pursuit of additional debt-financed
growth opportunities.  An outlook revision to positive would be
considered if steady operating performance continues creating
further cushion to absorb additional growth opportunities.


PLAYTEX PRODUCTS: Moody's Assigns Loss-Given-Default Ratings
------------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the US Consumer Products, Beverage, Toy, Natural
Product Processors, Packaged Food Processors and Agricultural
Cooperative sectors, the rating agency confirmed its B2 Corporate
Family Rating for Playtex Products, Inc.

Additionally, Moody's revised and held its probability-of-default
ratings and assigned loss-given-default ratings on these loans and
bond debt obligations:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
   $100 million
   Senior Secured
   Revolver             B1       Ba2      LGD2     19%

   $290 million
   Senior Secured
   Notes                B2       Ba3      LGD2     27%

   $321 million
   Sr. Subordinated
   Notes                Caa1     Caa1     LGD5     80%

Moody's explains that current long-term credit ratings are
opinions about expected credit loss, which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

Playtex Products, Inc., with executive offices in Westport,
Connecticut, is a leading marketer, manufacturer and distributor
of a diversified portfolio of consumer and personal products
including infant care, feminine care, and skin care items.


POKAGON GAMING: Moody's Assigns LGD3 Rating to Senior Unsec. Notes
------------------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the Gaming, Lodging & Leisure sector, the rating
agency confirmed Pokagon Gaming Authority's B3 Corporate Family
Rating.

Moody's confirmed the Company's B3 probability-of-default rating
on its Senior Unsecured Notes due 2014.  Additionally, Moody's
assigned an LGD3 rating to these notes, suggesting noteholders
will experience a 46% loss in the event of a default.

Moody's current long-term credit ratings are opinions about
expected credit loss, which incorporate both the likelihood of
default and the expected loss in the event of default.

The LGD rating methodology will disaggregate these two key
assessments in long-term ratings.  The LGD rating methodology will
also enhance the consistency in Moody's notching practices across
industries and will improve the transparency and accuracy of
Moody's ratings as its research has shown that credit losses on
bank loans have tended to be lower than those for similarly rated
bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% - 9%) to
LGD6 (loss anticipated to be 90% - 100%).

The Pokagon Gaming Authority is a wholly owned unincorporated
instrumentality of the Pokagon Band of Potawatomi Indians, a
federally-recognized Indian tribe located in New Buffalo,
Michigan.  The Authority was formed in May 2006 to develop and
operate all gaming and related businesses of the Tribe, including
the Four Winds Casino and Resort.


PRESERVE AT WOODLAND: Involuntary Chapter 11 Case Summary
---------------------------------------------------------
Alleged Debtors: Preserve at Woodland Harbor, LLC
                 Woodland Harbor Holdings, LLC
                 c/o Stage Development Company, LLC
                 303 W. Madison Street, Suite 1800
                 Chicago, IL 60606

Case Numbers: 06-12478 & 06-12479

Type of Business: The Debtor is a real estate developer.

Involuntary Petition Date: October 2, 2006

Chapter: 11

Court: Northern District of Illinois (Chicago)

Judge: Carol A. Doyle

Petitioners' Counsel: Timothy W. Brink, Esq.
                      Lord Bissell & Brook LLP
                      111 South Wacker Drive
                      Chicago, IL 60606-4410
                      Tel: (312) 443-0700
                      Fax: (312) 896-6432

List of Petitioners of Preserve at Woodland Harbor, LLC:

   Petitioners                Nature of Claim       Claim Amount
   -----------                ---------------       ------------
Connan, Inc.                  Secured                 $1,025,976
160 W. Washington
Zeeland, MI 49464

Driesenga & Associates, Inc.  Secured                    $51,656
455 East 8th Street
Suite 100
Holland, MI 49423

Stevens & Tate Marketing      Unsecured                  $53,854
1900 South Highland Avenue
Lombard, IL 60148

CRP X, L.P.                   Unsecured                 $167,556
c/o Camelot Capital, LLC
303 W. Madison Street
Suite 1800
Chicago, IL 60606

List of Petitioners of Woodland Harbor Holdings, LLC:

   Petitioners                Nature of Claim       Claim Amount
   -----------                ---------------       ------------
Connan, Inc.                  Secured                 $1,025,976
160 W. Washington
Zeeland, MI 49464

Driesenga & Associates, Inc.  Secured                    $51,656
455 East 8th Street
Suite 100
Holland, MI 49423

CRP X, L.P.                   Unsecured                  $36,781
c/o Camelot Capital, LLC
303 W. Madison Street
Suite 1800
Chicago, IL 60606


RADNOR HOLDINGS: Gets Court Nod to Hire Skadden Arps as Counsel
---------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware gave Radnor
Holdings Corporation and its debtor-affiliates permission to
employ Skadden, Arps, Slate, Meagher & Flom LLP, as their
bankruptcy counsel, nunc pro tunc to Aug. 21, 2006.

As reported in the Troubled Company Reporter on Sept. 6, 2006,
Skadden Arps will:

    a. advise the Debtors with respect to their powers and duties
       as debtors and debtors-in-possession in the continued
       management and operation of their business and properties;

    b. attend meetings and negotiate with representatives of
       creditors and other parties-in-interest and advise and
       consult on the conduct of the Debtors cases, including all
       of the legal and administrative requirements of operating
       in chapter 11;

    c. take all necessary action to protect and preserve the
       Debtors' estates, including the prosecution of actions on
       behalf of the Debtors' estates, and the defense of any
       actions commenced against the estates, negotiations
       concerning litigation in which the Debtors may be involved
       and objections to claims filed against the estates;

    d. prepare, on behalf of the Debtors, motions, applications,
       answers, orders, reports, applications, answers, orders,
       reports and papers necessary to the administration of the
       estates;

    e. prepare and negotiate on the Debtors' behalf a plan of
       reorganization, disclosure statement and all related
       agreements or documents and take all necessary action on
       behalf of the Debtors to obtain confirmation of the plan;

    f. advise the Debtors in connection with any sale of assets;

    g. perform other necessary legal services and provide other
       necessary legal advice to the Debtors in connection with
       their chapter 11 cases; and

    h. appear before the Court, any appellate courts, and the U.S.
       Trustee and protect the interests of the Debtors' estates
       before these courts and the U.S. Trustee.

The Debtors told the Court that the firm's professionals bill:

       Professional                      Hourly Rate
       ------------                      -----------
       Partners & Of-Counsel             $585 - $835
       Associates & Counsel              $295 - $640
       Legal Assistants                   $90 - $230

Gregg M. Galardi, Esq., a partner at Skadden Arps, assured the
Court that his firm is disinterested as that term is defined in
Section 101(14) of the Bankruptcy Code.

Headquartered in Radnor, Pennsylvania, Radnor Holdings Corporation
-- http://www.radnorholdings.com/-- manufactures and distributes
a broad line of disposable food service products in the United
States, and specialty chemicals worldwide.  The Debtor and its
affiliates filed for chapter 11 protection on Aug. 21, 2006
(Bankr. D. Del. Case No. 06-10894).  Gregg M. Galardi, Esq., and
Mark L. Desgrosseilliers, Esq., at Skadden, Arps, Slate, Meagher,
represent the Debtors.  When the Debtors filed for protection from
their creditors, they listed total assets of $361,454,000 and
total debts of $325,300,000.


RADNOR HOLDINGS: Committee Retains Greenberg Traurig as Counsel
---------------------------------------------------------------
The Official Committee of Unsecured Creditors of Radnor Holdings
Corporation and its debtor-affiliates obtained approval from the
U.S. Bankruptcy Court for the District of Delaware to retain
Greenberg Traurig, LLP, as its bankruptcy counsel, nunc pro tunc
to Aug. 30, 2006.

As reported in the Troubled Company Reporter on Sept. 22, 2006,
Greenberg Traurig is expected to:

    (a) provide legal advice with respect to the Committee's
        rights, powers and duties in the Debtors' chapter 11
        cases;

    (b) prepare all necessary applications, answers, responses,
        objections, orders, reports and other legal papers;

    (c) represent the Committee in any and all matters arising in
        the Debtors' bankruptcy proceedings including any dispute
        or issue with the Debtors, any alleged secured creditors
        or any other creditors or third parties;

    (d) assist the Committee in its investigation and analysis of
        the Debtors, including but not limited to, the review and
        analysis of all pleadings, claims or plans of
        reorganization that may be filed in the Debtors' chapter
        11 cases and any negotiations or litigation that may arise
        out of or in connection with such matters, operations and
        financial affairs;

    (e) represent the Committee in all aspects of confirmation
        proceedings; and

    (f) perform all other legal services for the Committee that
        may be necessary or desirable in these proceedings.

Victoria Watson Counihan, Esq., a shareholder at Greenberg
Traurig, told the Court that she will bill $440 per hour for this
engagement.  Ms. Counihan disclosed that other professionals who
will render services bill:

         Professional                           Hourly Rate
         ------------                           -----------
         Nancy A. Mitchell, Esq.                    $615
         Nancy A. Peterman, Esq.                    $545
         Donald J. Detweiler, Esq.                  $490
         Monica L. Loftin, Esq.                     $470
         Dennis A. Meloro, Esq.                     $300
         Elizabeth C. Thomas                        $170

         Designation                            Hourly Rate
         -----------                            -----------
         Shareholders                           $235 - $750
         Associates                             $130 - $480
         Legal Assistants/Paralegals             $65 - $230

Ms. Counihan assured the Court that her firm is a "disinterested
person" as that term is defined in Section 101(14) of the
Bankruptcy Code.

Headquartered in Radnor, Pennsylvania, Radnor Holdings Corporation
-- http://www.radnorholdings.com/-- manufactures and distributes
a broad line of disposable food service products in the United
States, and specialty chemicals worldwide.  The Debtor and its
affiliates filed for chapter 11 protection on Aug. 21, 2006
(Bankr. D. Del. Case No. 06-10894).  Gregg M. Galardi, Esq., and
Mark L. Desgrosseilliers, Esq., at Skadden, Arps, Slate, Meagher,
represent the Debtors.  Donald J. Detweiler, Esq., and Victoria
Watson Counihan, Esq., at Greenberg Traurig, LLP, serves the
Official Committee of Unsecured Creditors.  When the Debtors filed
for protection from their creditors, they listed total assets of
$361,454,000 and total debts of $325,300,000.


RAPID PAYROLL: Has Until February 28 to File Chapter 11 Plan
------------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
extended until Feb. 28, 2007, the time within which Rapid Payroll
Inc., fka Olsen Computer Systems, can file a chapter 11 plan.  The
Debtor also has until April 30, 2007, to solicit acceptances of
that plan from its creditors.

The Debtor tells the Court that it was involved in several
prepetition actions.  As a result, it has not had enough time to
fully consider its options for reorganization and may not be able
to propose a realistic and comprehensive plan at the end of the
year.

The Debtor believes that the extension will give it more time to
complete negotiations and formulate the terms of its plan.

Headquartered in Orange, California, Rapid Payroll Inc. fka Olsen
Computer Systems, was in the business of licensing payroll
processing software called Rapidpay and providing maintenance,
support and updates for the software to its licensees.  The
Company was later acquired in November 1996 by Paychex, Inc.
Rapid Payroll filed for chapter 11 protection on May 4, 2006
(Bankr. C.D. Calif. Case No. 06-10631).  The firm of Robinson,
Diamant & Wolkowitz, APC serves as the Debtor's counsel.  On
June 28, 2006, the Court authorized the Debtor to hire the firm of
Irell & Manella LLP as its special litigation counsel through and
including August 31, 2006.  When the Debtor filed for protection
from its creditors, it estimated assets between $1 million and
$10 million and estimated debts between $10 million and
$50 million.


REAL ESTATE: Court Okays Barr and Barr as Bankruptcy Counsel
------------------------------------------------------------
The Hon. Mary P. Gorman of the U.S. Bankruptcy Court for the
Central District of Illinois authorized Real Estate Investors of
Decatur to employ Barr and Barr as its bankruptcy counsel.

John Barr, Esq., and Jay Barr, Esq., are the lead attorneys.  John
Barr will bill at $200 per hour and Jay Barr will bill at $120 per
hour.

John Barr and Jay Barr assure the Court that they do no hold nor
represent any interest adverse to the Debtor, and they are
disinterested as required by Section 327 of the Bankruptcy Code.

Headquartered in Decatur, Illinois, Real Estate Investors of
Decatur, LLC, own four hotels in Illinois.  The Company filed
for chapter 11 protection on Aug. 9, 2006 (Bankr. C.D. Ill.
Case No. 06-71033).  John Barr, Esq., at Barr & Barr represents
the Debtor in its restructuring efforts.  When the Debtor filed
for protection from its creditors, it estimated assets and
debts between $10 million and $50 million.


REAL ESTATE: Wants Chapter 11 Case Dismissed
--------------------------------------------
Real Estate Investors of Decatur asks the Honorable Mary P. Gorman
of the U.S. Bankruptcy Court for the Central District of Illinois
to dismiss its chapter 11 case.

The Debtor owns or operates three properties in Decatur, Illinois,
including:

   -- Decatur Conference Center and Hotel located at 4191 West
      U.S. Highway 36;

   -- Park 101 Industrial Park located at 2303-2499 Federal Drive
      and 3443-3519 Rupp Parkway; and

   -- The Village Mall located at 444 E. Main Street.

John S. Cardwell, who also owns other real estate properties,
businesses, and developments in Central Illinois, owns the Debtor.

Since filing for bankruptcy, the Debtor, its secured creditors,
and major unsecured creditors have met and discussed a resolution
to these matters which would provide for the continuing operation
of all the Debtor's properties.

After extensive discussions and negotiations, the parties have
agreed to allow the successful operation of these properties to
continue.

The parties have agreed that Decatur Hospitality Services, L.L.C.,
will continue to operate the Decatur Conference Center and Hotel
for a defined period of time.

Park 101 Industrial Park will be transferred to a new owner who
will refinance the existing debt and relieve the Debtor from any
further obligation.

The Village Mall will be transferred to a new owner who will
either obtain new financing or re-negotiate the current financing
with the current secured creditor.

All three businesses will remain open and continue to provide
service to the Decatur, Macon County area.

Since the goals of the Debtor, secured creditors, and unsecured
creditors have been met by this agreement, bankruptcy protection
is no longer necessary for the Debtor, the Debtor's bankruptcy
counsel, John Barr, Esq., says.

The parties contemplate that additional orders will be entered in
Macon County Circuit Court to finalize these agreements.

Mr. Barr further says that due to the automatic stay, the orders
cannot be entered or the property transferred until dismissal of
this bankruptcy petition is granted.

In order to insure the successful operation of the three
properties, the Debtor has agreed that it will not seek relief
under any chapter of the Bankruptcy Code for at least 180 days.

The Debtor will file reports with the U.S. Trustee regarding
distributions that it has made during its bankruptcy case upon
which the Trustee's fees will be based and the said fees will be
promptly paid.

Headquartered in Decatur, Illinois, Real Estate Investors of
Decatur, LLC, own four hotels in Illinois.  The Company filed
for chapter 11 protection on Aug. 9, 2006 (Bankr. C.D. Ill.
Case No. 06-71033).  John Barr, Esq., at Barr & Barr represents
the Debtor in its restructuring efforts.  When the Debtor filed
for protection from its creditors, it estimated assets and
debts between $10 million and $50 million.


REGAL ENTERTAINMENT: Moody's Assigns Loss-Given-Default Ratings
---------------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the Gaming, Lodging & Leisure sector, the rating
agency confirmed Regal Entertainment Group's Ba3 Corporate Family
Rating.

Additionally, Moody's revised or confirmed its probability-of-
default ratings and assigned loss-given-default ratings on these
debts:

   Issuer: Regal Entertainment Group

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
   3-3/4% Senior
   Unsec. Conv.
   Notes due 2008         B3       B2      LGD6        95%

   Issuer: Regal Cinemas Corporation

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
   Sr. Secured
   Revolver due 2009      Ba2      Ba2     LGD3        40%

   Sr. Secured
   Term Loan due 2010      Ba2      Ba2     LGD3        40%

Moody's current long-term credit ratings are opinions about
expected credit loss, which incorporate both the likelihood of
default and the expected loss in the event of default.

The LGD rating methodology will disaggregate these two key
assessments in long-term ratings.  The LGD rating methodology will
also enhance the consistency in Moody's notching practices across
industries and will improve the transparency and accuracy of
Moody's ratings as its research has shown that credit losses on
bank loans have tended to be lower than those for similarly rated
bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% - 9%) to
LGD6 (loss anticipated to be 90% - 100%).

Regal Entertainment Group -- http://www.REGmovies.com/-- is the
largest motion picture exhibitor in the world.  The Company's
theatre circuit, comprising Regal Cinemas, United Artists Theatres
and Edwards Theatres, operates 6,383 screens in 542 locations in
40 states and the District of Columbia.  Regal operates
approximately 18% of all indoor screens in the United States
including theatres in 43 of the top 50 U.S. markets and growing
suburban areas.


REVLON CONSUMER: Moody's Assigns Loss-Given-Default Ratings
-----------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the US Consumer Products, Beverage, Toy, Natural
Product Processors, Packaged Food Processors and Agricultural
Cooperative sectors, the rating agency confirmed its B3 Corporate
Family Rating for Revlon Consumer Products Corporation.

Additionally, Moody's revised its probability-of-default ratings
and assigned loss-given-default ratings on these loans and bond
debt obligations:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
   $160 million
   Revolver             B2       Ba3      LGD2     11%

   $800 million
   Term Loan            B1       B2       LGD3     34%

   $387 million
   Senior Notes         Caa2     Caa1     LGD4     61%

   $217 million
   Sr. Sub. Notes       Caa3     Caa2     LGD6     93%

Moody's explains that current long-term credit ratings are
opinions about expected credit loss, which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

Revlon, Inc. (NYSE:REV) -- http://www.revloninc.com/-- is a
worldwide cosmetics, skin care, fragrance, and personal care
products company.  The Company's vision is to deliver the promise
of beauty through creating and developing the most consumer
preferred brands.  The Company's brands include Revlon(R),
Almay(R), Vital Radiance(R), Ultima(R), Charlie(R), Flex(R), and
Mitchum(R).  Revlon Consumer Products Corporation is Revlon,
Inc.'s wholly-owned operating subsidiary.


REYNOLDS AMERICAN: Moody's Assigns Loss-Given-Default Ratings
-------------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the US Consumer Products, Beverage, Toy, Natural
Product Processors, Packaged Food Processors and Agricultural
Cooperative sectors, the rating agency confirmed its Ba2 Corporate
Family Rating for Reynolds American, Inc.

Additionally, Moody's revised its probability-of-default ratings
and assigned loss-given-default ratings on these loans and bond
debt obligations:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
   $550 million
   Senior Secured
   Revolver             Ba1      Baa2     LGD2     12%

   $1.550 billion
   Senior Secured
   Term Loan            Ba1      B2       LGD2     12%

   $1.641 billion
   Secured Notes        Ba2      Ba3      LGD4     66%

   $1.286 billion
   Secured Notes        Ba2      Ba3      LGD4     66%

R.J. Reynolds Tobacco Holdings, Inc.

   $161 million
   GTD Unsecured
   Notes                B1       Ba3      LGD5     73%

   $89 million
   Unsecured Notes      B2       B1       LGD6     96%

Moody's explains that current long-term credit ratings are
opinions about expected credit loss, which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

Based in Winston-Salem, North Carolina, Reynolds American, Inc.,
is the parent company of RJR Tobacco Company, the second largest
cigarette company in the United States.


ROUNDY'S SUPERMARKETS: Moody's Assigns B3 Corporate Family Rating
-----------------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the U.S. and Canadian Retail sector, the rating
agency assigned its B3 Corporate Family Rating for Roundy's
Supermarkets, Inc., and upgraded to Ba3 its B2 ratings on the
Company's guaranteed 1st lien senior secured revolver and
guaranteed 1st lien senior secured term loan.  Additionally,
Moody's assigned an LGD2 rating to both loans, suggesting
creditors will experience an 18% loss in the event of a default.

Moody's explains that current long-term credit ratings are
opinions about expected credit loss, which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's
alpha-numeric scale.  They express Moody's opinion of the
likelihood that any entity within a corporate family will default
on any of its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

Roundy's Supermarkets, Inc., with headquarters in Milwaukee,
Wisconsin, operates 132 retail grocery stores primarily under the
Pick 'n Save, Copps, and Rainbow banners.  The company also
distributes food and consumer products to independent supermarkets
in Wisconsin and contiguous states.


SCOTTISH RE: Ends and Cuts Syndicated Credit Facilities
-------------------------------------------------------
Scottish Re Group Limited has permanently reduced the aggregate
commitments under the Amended and Restated Credit Agreement dated
July 14, 2005 among Scottish Annuity & Life Insurance Company
(Cayman) Ltd., Scottish Re (Dublin) Limited, Scottish Re (U.S.),
Inc. and Scottish Re Limited and a syndicate of banks to
$42.8 million.

The Company also announced that Scottish Annuity & Life Insurance
Company (Cayman) Ltd., has terminated the Letter of Credit
Agreement dated Aug. 18, 2005, among Scottish Re (Dublin) Limited,
Scottish Annuity & Life Insurance Company (Cayman) Ltd., various
financial institutions, and Bank of America, N.A., as
administrative agent, effective Sept. 22, 2006.  All letters of
credit outstanding under that agreement, in an aggregate amount of
$10 million, have been cancelled.

"As previously stated, the availability of further borrowings
under these credit facilities has been uncertain," Dean Miller,
Chief Financial Officer, remarked.  "Rather than continue
negotiations with the banking syndicate, we elected to permanently
reduce the $200 million credit facility to $42.8 million, which is
the face amount of outstanding letters of credit under the
agreement.  Using existing available liquidity, we are currently
working with our clients to provide them with alternate letters of
credit or assets in trust to replace these outstanding letters of
credit."

"Once these alternate letters of credit or assets in trust are in
place, we can terminate the $200 million credit facility which
will eliminate the current restriction on the Company's ability to
transfer funds to Scottish Re Group Limited in order to pay the
$115 million 4.5% Convertible Notes which can be put to the
Company on Dec. 6, 2006.  In addition, we terminated the $30
million letter of credit facility available to our Dublin
subsidiary."

                         About Scottish Re

Scottish Re Group Limited -- http://www.scottishre.com/-- offers
reinsurance of life insurance, annuities and annuity-type products
through its operating companies in Bermuda, Charlotte, North
Carolina, Grand Cayman Dublin, Ireland, and Windsor, United
Kingdom.  At March 31, 2006, the reinsurer's balance sheet showed
$12.2 billion assets and $10.8 billion in liabilities.

                           *     *     *

Moody's Investors Service changed the direction of review for
Scottish Re Group Limited's ratings to uncertain from possible
downgrade.   The change in the direction of the ratings review
impacts the company's Ba3 senior unsecured debt rating and the
Baa3 insurance financial strength ratings of the company's core
insurance subsidiaries, Scottish Annuity & Life Insurance Company
(Cayman) Ltd. (SALIC) and Scottish Re (U.S.), Inc.

Moody's Rates Scottish Re Group Limited as:

   -- Senior Unsecured, to Ba2 from Baa2;

   -- Senior Unsecured Shelf, to (P)Ba2 from (P)Baa2;

   -- Subordinate Shelf, to (P)Ba3 from (P)Baa3;

   -- Junior subordinate Shelf, to (P)B1 from (P)Ba1;

   -- Preferred Stock, to B1 from Ba1;

   -- Preferred Shelf, to (P)B1 from (P)Ba1

Fitch Ratings also initiated these rating actions:

   -- IDR downgraded to 'BBB-' from 'BBB';

   -- 4.5% $115 million senior convertible notes downgraded
      to 'BB+' from 'BBB-';

   -- 5.875% $142 million hybrid capital units downgraded to
     'BB' from 'BB+';

   -- 7.25% $125 million non-cumulative perpetual preferred
      stock downgraded to 'BB' from 'BB+'.

A.M. Best likewise downgraded the ICR of Scottish Re to "bb+"
from "bbb-".  A.M. Best Co. also downgraded the financial strength
rating to B++ from A- and the issuer credit ratings to "bbb+" from
"a-" of the primary operating insurance subsidiaries of Scottish
Re Group Limited (Scottish Re) (Cayman Islands).

All FSR and debt ratings have been placed under review with
negative implications.  The FSR has been downgraded to B++ from A-
and the ICRs have been downgraded to "bbb+" from "a-" and placed
under review with negative implications for these subsidiaries of
Scottish Re Group Limited:

  -- Scottish Annuity & Life Insurance Company (Cayman) Ltd;
  -- Scottish Re (U.S.), Inc.;
  -- Scottish Re Life Corporation;
  -- Scottish Re Limited; and
  -- Orkney Re, Inc.

The ICR has been downgraded to "bb+" from "bbb-" and placed
under review with negative implications for Scottish Re Group
Limited.

These debt ratings have been downgraded and placed under review
with negative implications:

Scottish Re Group Limited

   -- "bb+" from "bbb-" on $115 million 4.5% senior
       unsecured convertible notes, due 2022;

   -- "bb-" from "bb" on $143 million 5.875% of hybrid
       capital units, due 2007; and

   -- "bb-" from "bb" on $125 million non-cumulative
       preferred shares;

Stingray Pass-thru Trust

   -- "bbb+" from "a-" on $325 million senior unsecured
       pass-thru certificates, due 2012

These indicative ratings for debt securities under the shelf
registration have been downgraded and placed under review with
negative implications:

Scottish Re Group Limited

  -- "bb-" from "bb" on preferred stock;
  -- "bb" from "bb+" on subordinated debt; and
  -- "bb+" from "bbb-" on senior unsecured debt.

Scottish Holdings Statutory Trust II and III

  -- "bb" from "bb+" on preferred securities.

Standard & Poor's Ratings Services placed its 'BBB- counterparty
credit rating on Scottish Re Group Ltd. on CreditWatch with
negative implications.  Standard & Poor's also said that it
placed its various ratings on Scottish Re's operating
subsidiaries and other related entities on CreditWatch negative.

The ratings will remain on CreditWatch until the capital has
been raised and the company's strategic alternatives have been
clarified.  As a result, the ultimate ratings will depend on the
resulting capital, liquidity, and business position of the
company.


SELECT MEDICAL: Moody's Assigns Loss-Given-Default Rating
---------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the U.S. Hospital and Long-term Care sectors this
week, the rating agency confirmed its B1 Corporate Family Rating
for Select Medical Holdings Corporation and its B3 rating on the
company's $175 million senior subordinated notes due 2015.
Moody's also assigned an LGD6 rating to those bonds, suggesting
noteholders will experience a 90% loss in the event of a default.

Additionally, Moody's revised or held its probability-of-default
ratings and assigned loss-given-default ratings on the Company's
subsidiary, Select Medical Corporation, on loans and bond debt
obligations:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
   $300 Million
   Senior Secured
   Revolving Credit
   Facility due 2010      B1       Ba1     LGD2       19%

   $580 Million
   Senior Secured Term
   Loan due 2012          B1       Ba1     LGD2       19%

   7.625% Senior
   Subordinated
   Notes due 2015         B3       B2      LGD4       67%

Moody's explains that current long-term credit ratings are
opinions about expected credit loss, which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

Select Medical Corporation, headquartered in Mechanicsburg,
Pennsylvania, operates 98 long-term acute care hospitals, four
inpatient rehabilitation facilities, and over 740 outpatient
rehabilitation clinics.


SEQUA CORPORATION: Moody's Assigns Loss-Given-Default Ratings
-------------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology, the rating agency confirmed its B1 Corporate Family
Rating for Sequa Corporation.  Additionally, Moody's revised its
probability-of-default ratings and assigned loss-given-default
ratings on these loans and bond debt obligations:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
   9% Sr. Unsecured
   Notes due 2009          B1       B2     LGD4        60%

   8.875% Sr. Unsec.
   Notes due 2008          B1       B2     LGD4        60%

Moody's explains that current long-term credit ratings are
opinions about expected credit loss, which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

Headquartered in New York, Sequa Corporation --
http://www.sequa.com/--  is a diversified industrial company.
Its operations manufacture and  repair jet engine components,
perform metal coating, produce  automotive airbag inflators,
chemical detergent additives,  auxiliary printing press equipment,
emissions control systems,  men's formalwear, and automotive
cigarette lighters and power  outlets.


SINCLAIR TELEVISION: Moody's Assigns Loss-Given-Default Ratings
---------------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the US advertising and broadcasting sector,
Moody's revised or held its probability-of-default ratings and
assigned loss-given-default ratings on these loans and bond debt
obligations  issued by Sinclair Television Group, Inc.:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
   Secured Revolver       Ba1     Baa3     LGD1        8%

   Secured Term Loan A    Ba1     Baa3     LGD1        8%

   8.75% Sr. Subor.
   notes due 2011          B2      Ba3     LGD4        56%

   8.0% Sr. Subor.
   notes due 2012          B2      Ba3     LGD4        56%

Moody's explains that current long-term credit ratings are
opinions about expected credit loss, which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

Sinclair Broadcast Group, Inc. -- http://www.sbgi.net/-- owns and
operates, programs or provides sales services to 58 television
stations in 36 markets.  Sinclair's television group is affiliated
with all major networks and reaches approximately 22% of all U.S.
television households.


SKILLED HEALTHCARE: Moody's Assigns Loss-Given-Default Rating
-------------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the U.S. Hospital and Long-term Care sectors this
week, the rating agency confirmed its B2 Corporate Family Rating
for Skilled Healthcare Group, Inc.

Additionally, Moody's revised or held its probability-of-default
ratings and assigned loss-given-default ratings on these loans and
bond debt obligations:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
   $75 Million
   Senior Secured
   Revolving Credit
   Facility due 2010      B1       Ba3     LGD2       27%

   Senior Secured
   Term Loan
   due 2012               B1       Ba3     LGD2       27%

   11.0% Senior
   Subordinated
   Notes due 2014        Caa1     Caa1     LGD5       82%

Moody's explains that current long-term credit ratings are
opinions about expected credit loss, which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
umeric scale.  They express Moody's opinion of the likelihood that
any entity within a corporate family will default on any of its
debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

Headquartered in Foothill Ranch, California, Skilled Healthcare
Group, Inc. operates long-term care facilities and provides post-
acute care and rehabilitation services.


SOLUTIA INC: Extends Pharmacia and Monsanto Bar Date to Feb. 2007
-----------------------------------------------------------------
Solutia Inc. and its debtor-affiliates, Monsanto Company and
Pharmacia Corporation agree to further extend the deadline for
Monsanto and Pharmacia to amend their initial proofs of claim, or
file additional claims, through and including Feb. 1, 2007.

The Debtors clarify that the stipulation constitutes a compromise
between the parties with respect to the procedure for filing
proofs of claim in their Chapter 11 cases and is not a
determination of the merits of the claims of Monsanto or
Pharmacia.

Headquartered in St. Louis, Missouri, Solutia, Inc. (OTCBB:SOLUQ)
-- http://www.solutia.com/-- with its subsidiaries, make and sell
a variety of high-performance chemical-based materials used in a
broad range of consumer and industrial applications.  The Company
filed for chapter 11 protection on Dec. 17, 2003 (Bankr. S.D.N.Y.
Case No. 03-17949).  When the Debtors filed for protection from
their creditors, they listed $2,854,000,000 in assets and
$3,223,000,000 in debts.  Solutia is represented by Richard M.
Cieri, Esq., at Kirkland & Ellis.  Daniel H. Golden, Esq., Ira S.
Dizengoff, Esq., and Russel J. Reid, Esq., at Akin Gump Strauss
Hauer & Feld LLP represent the Official Committee of Unsecured
Creditors, and Derron S. Slonecker at Houlihan Lokey Howard &
Zukin Capital provides the Creditors' Committee with financial
advice.  (Solutia Bankruptcy News, Issue No. 70; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000)


SOLUTIA INC: Can Implement 2006 Annual Incentive Program
--------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
authorized Solutia Inc. and its debtor-affiliates to implement the
2006 Incentive Program provided that any incentive program for
2007 will include, for the chief executive officer and certain of
his direct reports, a metric related to the Debtors' emergence
from bankruptcy protection.

Solutia said in a filing with the U.S. Securities and Exchange
Commission that awards will be paid within two and one-half
months following the end of the 2006 calendar year.  The Executive
Compensation and Development Committee of Solutia's board of
directors will administer the 2006 Incentive Program.

As reported in the Troubled Company Reporter on Sept. 7, 2006,
Jonathan S. Henes, Esq., at Kirkland & Ellis LLP, in New York,
relates that the annual incentive plan is the Debtors' only broad-
based compensation program and is a key tool by which they drive
operational and financial performance throughout the organization.

If the 2006 Incentive Program is paid at target levels, Solutia
projects awards will be approximately $25,200,000, excluding
overhead.

The 2006 Incentive Program is similar to the Court-approved
annual incentive plans the Debtors implemented in 2004 and 2005,
Mr. Henes says.  With respect to financial measures and payout
points for 2006, the Debtors' senior management team made
recommendations to the Executive Compensation and Development
Committee of Solutia's board of directors based on actual
financial results for 2005, the 2006 budget and the key drivers
and focus areas for each of business units.

After the terms of the 2006 Incentive Program were approved by the
ECDC, the Debtors presented it to the Official Committee of
Unsecured Creditors, the Ad Hoc Trade Claims Committee, the Ad Hoc
Committee of Solutia Noteholders, Monsanto Company and the
Official Committee of Equity Security Holders.

The Debtors tailored the 2006 Incentive Program to place emphasis
on the performance of the Integrated Nylon, Saflex, CPFilms,
Chemicals, and Plastic Products business units as well as the
business core group that provides support services to the entire
company.

In designing the 2006 Incentive Program, the Debtors established
specific performance targets for each business unit so they can
meet or exceed the 2006 budget.  The size of the incentive bonus
pools available for awards to employees is based on actual
performance relative to these targets.

Each Business Unit has up to three financial measures depending
on its key drivers and focus areas.  The three measures selected
are EBITDA(R), Free Cash Flow and Gross Margin.

The funding of each Business Unit Incentive Pool and the Core
Incentive Pool will be 90% of the aggregate target bonuses for
individuals assigned to the Pool multiplied by the weighted
average of pre-established funding factor for achievement of
specific objective performance parameters relative to a targeted
performance.

     Unit               Measure                     Weight
     ----               -------                     ------
     Core               Enterprise EBITDAR           45%
                        Free Cash Flow               55%

     Integrated Nylon   EBITDA                       50%
                        Free Cash Flow               50%

     Saflex             EBITDA                       33.3%
                        Free Cash Flow               33.3%
                        Gross Margin %               33.3%

     CPFilms            EBITDA                       50%
                        Free Cash Flow               50%

     Chemicals          Free Cash Flow              100%

     Plastic Products   Free Cash Flow              100%

In addition, an overall corporate discretionary bonus pool will
be funded by the enterprise-level EBITDAR performance relative to
a pre-established target performance.  The funding of the
Enterprise Discretionary Incentive Pool will be 10% of the
aggregate target bonuses multiplied by a pre-established funding
factor.

Targeted performance levels and funding factors have been
established by the ECDC.

A full-text copy of the Debtors' 2006 Incentive Program is
available for free at http://ResearchArchives.com/t/s?112d

Headquartered in St. Louis, Missouri, Solutia, Inc. (OTCBB:SOLUQ)
-- http://www.solutia.com/-- with its subsidiaries, make and sell
a variety of high-performance chemical-based materials used in a
broad range of consumer and industrial applications.  The Company
filed for chapter 11 protection on Dec. 17, 2003 (Bankr. S.D.N.Y.
Case No. 03-17949).  When the Debtors filed for protection from
their creditors, they listed $2,854,000,000 in assets and
$3,223,000,000 in debts.  Solutia is represented by Richard M.
Cieri, Esq., at Kirkland & Ellis.  Daniel H. Golden, Esq., Ira S.
Dizengoff, Esq., and Russel J. Reid, Esq., at Akin Gump Strauss
Hauer & Feld LLP represent the Official Committee of Unsecured
Creditors, and Derron S. Slonecker at Houlihan Lokey Howard &
Zukin Capital provides the Creditors' Committee with financial
advice.  (Solutia Bankruptcy News, Issue No. 70; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000)


SPARTA COMMERCIAL: Recurring Losses Cue Going Concern Doubt
-----------------------------------------------------------
Russell Bedford Stefanou Mirchandani LLP in New York raised
substantial doubt about Sparta Commercial Services, Inc.'s ability
to continue as a going concern after auditing the Company's
consolidated financial statements for the years ended April 30,
2006, and 2005.  The auditor pointed to the Company's recurring
operating losses.

For the year ended April 30, 2006, the Company reported a
$7,872,772 net loss available to common stockholders on $169,106
of revenues, compared with a net loss of $4,418,727 on $65,833 of
revenues for the year ended April 30, 2006.

At April 30, 2006, the Company's balance sheet showed $3,055,750
in total assets, $2,516,277 in total liabilities, and $539,473 in
total stockholders' equity.

A full-text copy of the Company's Annual Report is available for
free at http://ResearchArchives.com/t/s?12d9

New York-based Sparta Commercial Services, Inc. --
http://www.spartacommercial.com/-- is an internet-based
acceptance and leasing company dedicated exclusively to the
powersports industry, which includes motorcycles over 600ccs,
4-stroke all-terrain vehicles and select scooters.  The Company
provides a full line of financing solutions including retail
installment sales contracts and leases, as well as related
services including GAP coverage and vehicle service contracts.


STANDARD AERO: Moody's Assigns Loss-Given-Default Ratings
---------------------------------------------------------
In connection with Moody's Investors Service's implementation
of its new Probability-of-Default and Loss-Given-Default rating
methodology, the rating agency confirmed its B2 Corporate
Family Rating for Standard Aero Holdings Inc.  Additionally,
Moody's revised its probability-of-default ratings and assigned
loss-given-default ratings on these loans and bond debt
obligations:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
   Sr. Secured
   Revolving Credit
   Facility due 2010       B2      Ba3     LGD2        29%

   Sr. Secured Term
   Loan B due 2012         B2      Ba3     LGD2        29%

   8.25% Sr. Subor.
   Notes due 2014         Caa1     Caa1    LGD5        81%

Moody's explains that current long-term credit ratings are
opinions about expected credit loss, which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

Standard Aero Holdings, a Delaware corporation, is a leading
provider of MRO services to the military, regional and business
aircraft after-markets.


STATE STREET: Judge Gerling Dismisses Chapter 11 Case
-----------------------------------------------------
In a decision published at 2006 WL 2612024 and 46 Bankr. Ct. Dec.
244, the Honorable Stephan D. Gerling found cause existed for the
sua sponte dismissal of the Chapter 11 cases involving State
Street Associates, L.P., and State Street Houses, Inc.  Judge
Gerling rejected the U.S. Trustee's request to convert the chapter
11 cases to chapter 7 liquidation proceedings because he saw no
real benefit in that course of action.

The time period for commencing potential avoidance actions has
expired, Judge Gerling observed. In addition, one of the debtor's
largest creditors had obtained relief from the automatic stay to
foreclose on the apartment complex, which was the debtors' primary
asset, and is proceeding in state court.  Administrative expenses
that would be incurred in getting a Chapter 7 trustee up to speed
could exceed the claims of creditors other than the two creditors
holding approximately 90% of the unsecured claims, and dismissal
will permit those creditors and the debtors to pursue their rights
in other forums, without any great impact on the other unsecured
creditors, who haven't participated in the proceedings for more
than two years.

Headquartered in Utica, New York, State Street Houses, Inc., is a
New York Corporation and legal titleholder of Kennedy Plaza
Apartments in Utica, New York.  The Company and its affiliate,
State Street Associates, L.P., filed for chapter 11 protection on
May 21, 2004 (Bankr. N.D.N.Y. Case No: 04-63673).  Arnold Weiss,
Esq., at Raichle Banning Weiss, PLLC, represents the Debtors.
When the Debtors filed for chapter 11 protection, they reported
estimated assets and debts amounting between $10 million to $50
million.


STATER BROS: Moody's Assigns LGD4 Loss-Given-Default Rating
-----------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the U.S. and Canadian retail companies, the rating
agency confirmed its B1 Corporate Family Rating for Stater
Brothers Holdings, Inc., and its B1 rating on the Company's
guarantee senior unsecured Global Notes.  Additionally, Moody's
assigned an LGD4 rating to those bonds, suggesting noteholders
will experience a 57% loss in the event of a default.

Moody's explains that current long-term credit ratings are
opinions about expected credit loss, which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's
alpha-numeric scale.  They express Moody's opinion of the
likelihood that any entity within a corporate family will default
on any of its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

Based in Colton, California, Stater Brothers Holdings Inc.
-- http://www.staterbros.com/-- operates more than 160 full
service Stater Bros. Markets in the United States.  The grocery
chain also owns and operates milk and juice processor Santee
Dairies aka Heartland Farms.  Founded in 1936 by twin brothers Leo
and Cleo Stater, Stater Bros. is owned by La Cadena Investments, a
general partnership consisting of Stater Bros. chairman and chief
executive officer, Jack Brown.


STECKLERS TRANSPORT: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Stecklers Transport, Inc.
        c/o Martin Steckler
        10012 Southeast 187th
        Renton, WA 98055

Bankruptcy Case No.: 06-13093

Type of Business: The Debtor is a trucking company.

Chapter 11 Petition Date: September 12, 2006

Court: Western District of Washington (Seattle)

Judge: Karen A. Overstreet

Debtor's Counsel: Lawrence M. Blue, Esq.
                  420 Bell Street
                  P.O. Box 5162
                  Edmonds, WA 98020
                  Tel: (425) 775-9700
                  Fax: (425) 645-8088

Total Assets: $301,531

Total Debts:  $3,522,345

Debtor's 20 Largest Unsecured Creditors:

   Entity                     Nature of Claim       Claim Amount
   ------                     ---------------       ------------
Department of Labor &         Industrial Insurance      $423,000
Industry                      Premiums
P. O. Box 44170
Olympia, WA 98504

Navistar                      Goods and Services        $370,419
P. O. Box 96070
Chicago, IL 60693-6070

Navistar                      03 International          $115,290
P. O. Box 96070               Tractor 1017; now
Chicago, IL 606936070         repossessed

Western Peterbilt             97 Peterbuilt             $110,810
                              No. 1005; now
                              repossessed; $10,000

Key Bank                      Line of Credit             $99,123

Navistar                      05 International           $94,200
                              Tractor 1009; now
                              repossessed; $88,810

Navistar                      05 International           $94,200
                              Tractor 1003; now
                              repossessed; $88,810

Navistar                      97 Peterbuilty             $94,200
                              Tractor 03; now
                              repossessed; $23,886

Navistar                      97 Peterbuilt              $66,720
                              Tractor 02; now
                              repossessed; $23,886

Navistar                      96 International           $66,000
                              Tractor 1002; now
                              repossessed by
                              Navistar; $66,888

Wells Fargo                   Line of Credit             $42,000

Hanjin Shipping               Goods and Services         $35,335

Gold Master Card              Credit card purchases      $25,101
Key Bank

PetroCard                     Goods and Services         $19,000

Citi Card                     Credit card purchases      $12,716

Associated Petroleum          Goods and Services         $12,446
Products

Discover                      Credit card purchases      $12,165

Pacific Power Products        Goods and Services         $12,137

Chase BankCard Services       Credit card purchases      $11,689

M&T Bank                      Credit card purchases       $7,800
Bankcard Services


TEKCONNECT CORP: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: TekConnect Corporation
        1 Keystone Avenue, Suite 700
        Cherry Hill, NJ 08003

Bankruptcy Case No.: 06-18759

Type of Business: The Debtor is an educational technology
                  integration and consulting firm.  TekConnect
                  specializes in the design, integration and on-
                  going service and support of technology in
                  education.  See http://www.tekconnect.com/

Chapter 11 Petition Date: September 15, 2006

Court: District of New Jersey (Camden)

Judge: Gloria M. Burns

Debtor's Counsel: Arthur Abramowitz, Esq.
                  Cozen O'Connor
                  Libertyview Building Suite 300
                  457 Haddonfield Road
                  Cherry Hill, NJ 08002
                  Tel: (856) 910-5000

Estimated Assets: Less than $50,000

Estimated Debts:  $1 Million to $10 Million

Debtor's 20 Largest Unsecured Creditors:

   Entity                                           Claim Amount
   ------                                           ------------
   Greenlight Capital                                   $997,717
   2 Grand Central Tower
   140 East 45 Street, Floor 24
   New York, NY 10017

   Leading Learning, Inc.                               $934,436
   3500 Sunrise Highway
   Suite T210C
   Great River, NY 11739

   Ingram Micro                                         $161,706
   P.O. Box 415034
   Boston, MA 022415034

   Arose Incorporated                                    $97,487

   Spacely LLC                                           $77,703
   c/o CRG Management LLC

   Robert Half Technology                                $68,038

   GovConnection                                         $42,158

   Snip Link                                             $39,101

   Websense                                              $38,839

   Cable Solutions                                       $35,907

   First Industrial Realty                               $33,206

   Grant Thornton, LLP                                   $30,786

   CommVault Systems, Inc.                               $30,556

   Vbrick Systems, Inc.                                  $30,404

   Insource, Inc.                                        $29,068

   Citrix Systems, Inc.                                  $23,752

   Tantara                                               $23,193

   Lakeland Communications, Inc.                         $22,950

   MBI Gluckshaw                                         $18,000

   Astaro Corporation                                    $16,679


TENET HEALTHCARE: Inks Five-Year Corporate Integrity Agreement
--------------------------------------------------------------
Tenet Healthcare Corporation has entered into a corporate
integrity agreement with the Office of Inspector General of the
U.S. Department of Health and Human Services.  The five-year
agreement establishes annual training requirements and compliance
reviews by independent organizations in certain specific areas.

This agreement has been anticipated since late June, when Tenet
reached a broad settlement of outstanding issues with the U.S.
Department of Justice.

"We believe the requirements of this corporate integrity agreement
are consistent with standards we already live by and principles we
strongly believe in," Trevor Fetter, Tenet's president and chief
executive officer, said.  "Because of the many changes and
enhancements we have made at Tenet in the past three years, we
already have in place many of the procedures and systems called
for by this corporate integrity agreement."

Specifically, the corporate integrity agreement requires, among
other things:

     * That Tenet maintain its existing company-wide quality
       initiatives in the areas of evidence-based medicine,
       standards of clinical excellence and quality measurements;

     * That Tenet maintain its existing company-wide compliance
       program and code of conduct;

     * That Tenet formalize in writing its policies and procedures
       in the areas of billing and reimbursement, compliance with
       the federal anti-kickback and Stark laws and clinical
       quality, almost all of which it already has in place and
       the remainder will be in place very shortly;

     * That Tenet provide a variety of general and specialized
       compliance training to its employees, contractors and
       physicians it employs or who serve as medical directorships
       and/or serve on a Tenet hospital governing board;

     * That Tenet engage independent outside entities to provide
       reviews of compliance and effectiveness in five areas,
       including Medicare outlier payments, DRG claims,
       unallowable costs, physician financial arrangements and
       clinical quality systems.

The corporate integrity agreement will run through Sept. 26, 2011.
The company has posted the entire agreement on its Web site.

                          About Tenet

Tenet Healthcare Corporation -- http://www.tenethealth.com/--  
through its subsidiaries, owns and operates acute care hospitals
and related health care services.  Tenet's hospitals aim to
provide the best possible care to every patient who comes through
their doors, with a clear focus on quality and service.

                         *     *     *

As reported in the Troubled Company Reporter on Oct. 2, 2006,
Moody's Investors Service affirmed the B3 Corporate Family Rating
on Tenet Healthcare after the Company announced it has accepted a
commitment for an $800 million secured credit facility.  Moody's
also assigned a Ba3 rating to the credit facility and downgraded
the ratings on the company's existing unsecured notes to Caa1 from
B3, reflecting the subordination of the unsecured debt to amounts
available under the new revolver.

At the same time, Standard & Poor's Ratings Services revised its
rating outlook on Tenet Healthcare to stable from negative.  The
'B' corporate credit rating on the company was affirmed.  Standard
& Poor's further lowered its rating on Tenet's senior unsecured
notes to 'CCC+' from 'B'.  The rating on the unsecured notes is
now two notches below the 'B' corporate credit rating on the
company.

Fitch Ratings also affirmed Tenet Healthcare Corp.'s 'B-' Issuer
Default Rating and 'B-/RR4' senior unsecured debt rating, in light
of the announcement of the new credit facility.  Simultaneously,
Fitch initiated a 'BB-/RR1' rating for Tenet's new secured
$800 million revolving credit facility.  The Rating Outlook
remains Negative.


TFS ELECTRONIC: Judge Baum Confirms Amended Liquidating Plan
------------------------------------------------------------
The Hon. Redfield T. Baum Sr., of the U.S. Bankruptcy Court for
the District of Arizona has confirmed TFS Electronic Manufacturing
Services, Inc.'s Amended Liquidating Chapter 11 Plan of
Reorganization.

Judge Baum determined that the Plan satisfies the 13 requirements
for confirmation stated in Section 1129(a) of the Bankruptcy Code.

                       Overview of the Plan

As reported in the Troubled Company Reporter on Aug. 28, 2006, the
Debtor contemplates an orderly liquidation of its remaining
assets and distribution of certain settlement funds.  The Debtors
proposes to establish a liquidating trust that will be
administered by a Liquidating Trustee.  On the effective date of
the Plan, the Debtor's remaining assets, including its available
cash will be transferred to the Liquidating Trust for the benefit
of creditors.  After that, the Trust will be responsible for
liquidating all of the remaining assets and making distributions
to creditors.

The Debtor currently holds $5.4 million in cash as
part of the proceeds of the sale of substantially all of its
assets to Applied Technical Services Corp. on Oct. 28, 2005.  The
Debtor also has around and $200,000 in miscellaneous accounts
receivable.

              Classification and Treatment of Claims

Holders of prepetition secured tax claims will retain their lien
on some assets.  The claims will earn 6% interest annually until
paid in full.

Holders of secured claims will have either:

   (a) their collateral; or

   (b) a five-year note in the fair market value of the
       collateral, earning 5% interest annually and payable in 60
       equal installments of principal and interest.

Holders of claims below $300 or those who elect to reduce their
claims to $300 will be paid in full on the Effective Date.

Holders of general unsecured claims, aggregating around
$5 million, will each receive a pro rata share of a settlement
fund, except for Willows.  Under a global settlement among the
Debtor, the Official Committee of Unsecured Creditors and the
Debtor's parent, Three-Five Systems, Inc., Willows is allowed a
$1,482,300 general unsecured claim but will be given a maximum
of $577,000 under that claim.   Under that settlement, around
$3,125,000 will be used to fund distributions for unsecured
creditors.  Estimated recovery for each unsecured creditor is 73%

Three-Five Systems holds an allowed $13,069,000 subordinated
claim.  Three-Five Systems will be paid out of settlement funds
after deducting $3,125,000 for distribution to unsecured
creditors.  Three-Five Systems will also receive funds recovered
from litigation against Topsearch Printed Circuits (HK), Ltd.

Three-Five Systems will also get the entire Debtor's unliquidated
assets and accounts receivable except avoidance actions.

Holders of equity interest will get nothing under the Plan.

A copy of the Amended Disclosure Statement is available for a fee
at http://www.researcharchives.com/bin/download?id=060824055310

Headquartered in Redmond, Washington, TFS Electronic Manufacturing
Services, Inc., was an electronics manufacturing services facility
that specializes in New Product Introduction services, prototype
Development and low to medium-volume manufacturing.  The Company
filed for chapter 11 protection on August 19, 2005 (Bankr. D.
Ariz. Case No. 05-15403).  John R. Clemency, Esq., Keriann M.
Atencio, Esq., and Tajudeen O. Oladiran, Esq., at Greenberg
Traurig LLP, represent the Debtor in its restructuring efforts.
Brian N. Spector, Esq., at Jennings Strouss & Salmon, PLC,
represents the Official Committee of Unsecured Creditors.  When
the Debtor filed for protections from its creditors, it estimated
assets between $1 million to $10 million and estimated debts
between $10 million to $50 million.


TRIAD HOSPITALS: Moody's Assigns Loss-Given-Default Rating
----------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the U.S. Hospital and Long-term Care sectors this
week, the rating agency confirmed its Ba3 Corporate Family Rating
for Triad Hospitals, Inc.

Additionally, Moody's revised or held its probability-of-default
ratings and assigned loss-given-default ratings on these loans and
bond debt obligations:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
   $600 Million
   Senior Secured
   Revolving Credit
   Facility due 2011      Ba2      Ba1     LGD2       18%

   $500 Million
   Senior Secured
   Term Loan
   due 2011               Ba2      Ba1     LGD2       18%

   7% Senior
   Unsecured Notes
   due 2012               B2       B1      LGD4       64%

   7% Senior
   Subordinated
   due 2012               B3       B2      LGD5       89%

Moody's explains that current long-term credit ratings are
opinions about expected credit loss, which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
umeric scale.  They express Moody's opinion of the likelihood that
any entity within a corporate family will default on any of its
debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

Triad Hospitals, Inc., through its affiliates, owns and manages
hospitals and ambulatory surgery centers in small cities and
selected larger urban markets.  Triad currently has 53 hospitals
and nine ambulatory surgery centers in 15 states with
approximately 8,690 licensed beds.


TRIMOL GROUP: Posts $431,000 Net Loss in Second Quarter of 2006
---------------------------------------------------------------
Trimol Group, Inc., has filed its financial statements for the
second quarter ended June 30, 2006, with the Securities and
Exchange Commission.

For the three months ended June 30, 2006, the Company reported a
$431,000 net loss on $511,000 of revenues compared, with a
$219,000 net loss on $2,215,000 of revenues for the same period in
2005.

At June 30, 2006, the Company's balance sheet showed $1,628,000 in
total assets and $1,984,000 in total current liabilities,
resulting in a $356,000 stockholders' deficit.

              Republic of Moldova Non-renewal Notice

The Company received a notice on Feb. 11, 2006, from the
Government of the Republic of Moldova that it does not intend
to renew the Supply Agreement, which expired by its terms on
April 29, 2006.  The Company does not believe that such
non-renewal notice was sent timely under the applicable provisions
of the Supply Agreement and has contested such non-renewal notice.

The Company and Intercomsoft commenced an action on June 27, 2006,
in the United States District Court for the Southern District of
New York against the Ministry of Economics of the Republic of
Moldova and the Government of the Republic of Moldova seeking
damages of approximately $41,000,000 for breach of contract.

The Company and Intercomsoft also seek an injunction prohibiting
Moldova from producing further essential government documents in
accordance with the terms of the Supply Agreement.

As a consequence of discussions with counsel to the defendants in
this action, the Company withdrew the action in August 2006,
without prejudice to its rights to reinstate it in the United
States courts, and intends to submit its claims against the
defendants before an arbitration tribunal in Switzerland.  There
can be no assurance as to the outcome of such arbitration
proceeding.

However, inasmuch as the Company's only revenues are derived from
Intercomsoft's activities under the Supply Agreement, if the
Supply Agreement is not renewed or extended, the Company will have
no source of revenues as a consequence of the expiration of such
Agreement.

                        Going Concern Doubt

Paritz & Company, P.A., in Hackensack, New Jersey, raised
substantial doubt about Trimol Group, Inc.'s ability to continue
as a going concern after auditing the Company's consolidated
financial statements for the second quarter ended June 30, 2006.
The auditor pointed to the Company's stockholders' deficit and the
expiration of the contract of its only customer.

Full-text copies of the Company's second quarter financials are
available for free at http://ResearchArchives.com/t/s?12dc

                     About Trimol Group, Inc.

Trimol Group, Inc., owns all of the outstanding shares of
Intercomsoft Limited a company which is engaged in the operation
of a computerized photo identification and database management
system utilized in the production of secure essential government
identification documents such as passports, drivers' licenses,
national identification documents and other forms of essential
personal identification. Currently Intercomsoft's only customer is
the Republic of Moldova's Ministry of Economics.


TRIUMPH HEALTHCARE: Moody's Assigns Loss-Given-Default Rating
-------------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the U.S. Hospital and Long-term Care sectors this
week, the rating agency confirmed its B2 Corporate Family Rating
for Triumph Healthcare Second Holdings, Inc.

Additionally, Moody's revised or held its probability-of-default
ratings and assigned loss-given-default ratings on these loans and
bond debt obligations:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
   Senior Secured
   Revolving Credit
   Facility due 2013      B2       B1      LGD3       35%

   Senior Secured
   First Lien Term
   Loan due 2013          B2       B1      LGD3       35%

   Senior Secured
   Second Lien Term
   due 2014              Caa1     Caa1     LGD5       86%

Moody's explains that current long-term credit ratings are
opinions about expected credit loss, which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
umeric scale.  They express Moody's opinion of the likelihood that
any entity within a corporate family will default on any of its
debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

Headquartered in Houston, Texas, Triumph Healthcare operates five
free-standing and one HIH LTACHs, all in the Houston, Texas
marketplace.  For the twelve months ended June 30, 2005 Triumph
generated revenues of approximately $150 million.


UNITED CUTLERY: Case Summary & 44 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: United Cutlery Corporation
        1425 United Boulevard
        Sevierville, TN 37876

Bankruptcy Case No.: 06-50884

Debtor-affiliates filing separate chapter 11 petitions:

      Entity                                   Case No.
      ------                                   --------
      Arrowhead Manufacturing Company, LLC     06-50885
      Arrowhead Partners, L.P.                 06-50886

Type of Business: The Debtors are independent manufacturers of
                  hunting, camping, fishing, military, utility,
                  collectible, and fantasy knives.  The Debtors
                  also market fantasy-based swords, weapons and
                  armor under license from movie studios.
                  See http://www.unitedcutlery.com/

Chapter 11 Petition Date: October 2, 2006

Court: Eastern District of Tennessee (Greeneville)

Judge: Marcia Phillips Parsons

Debtors' Counsel: Maurice K. Guinn, Esq.
                  Gentry, Tipton & McLemore P.C.
                  P.O. Box 1990
                  Knoxville, TN 37901
                  Tel: (865) 525-5300
                  Fax: (865) 523-7315

                              Estimated Assets   Estimated Debts
                              ----------------   ---------------
   United Cutlery             $10 Million to     $10 Million to
   Corporation                $50 Million        $50 Million

   Arrowhead Manufacturing    $500,000 to        $1 Million to
   Company, LLC               $1 Million         $10 Million

   Arrowhead Partners, L.P.   $10 Million to     $10 Million to
                              $50 Million        $50 Million

A. United Cutlery Corporation's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
SunTrust Bank                      Amended and        $17,000,000
c/o Bradley MacLean                Restated
Mail Code NA1982                   Promissory Note
221 4th Avenue North               dated May 4, 2006
Nashville, TN 37219-2011
Tel: (615) 782-2200

Phillip S. Martin                  Note (former        $1,900,000
166 Adwolfe Road                   shareholder)
Marion, VA 24354
Tel: (276) 783-6143

New Line Cinema                    License Agreement     $806,449
Royalty Accounting
888 Seventh Avenue
New York, NY 10106
Tel: (212) 649-4900

C & E International Co., Ltd.      Trade                 $568,662
P.O. Box 493
No. 296 Nan Ping Road
3rd Floor
Taichung, Taiwan ROC 402
011-886-422-653011

Prima Products Global Ltd.         Trade                 $333,840
15/F Unit 22 Wah Wai
Industrial Building
53-61 Pak Tin Par Street
Tsuen Wan Nt
Hong Kong
011-85-224-081376

Cynthia Shular                     Note (former          $300,000
922 Carson Road                    shareholder)
Dandridge, TN 37725
Tel: (865) 397-1701

Marto                              Trade                 $237,213

Ray International Trading Co.      Trade                 $165,797

James W. Furgal                    Note (former          $150,000
                                   (shareholder)

The Beanstalk Group, LLC           Trade                 $133,712

Harley-Davidson Motor Company      License Agreement     $120,000

Valk Industries                    Trade                 $104,272

Consorzio                          Trade                 $101,919


Glad Evergreen Industry Co.        Trade                  $90,924

Time Inc. Brand Licensing          License Agreement      $80,559

Inge Stumpf                        Note (former           $75,000
                                   shareholder)

Robert T./Karen M. Stumpf          Note (former           $75,000
                                   stockholder)

Robert Klaas GmbH & Co.            Trade                  $70,486

Heinr Boker GmbH & Co.             Trade                  $68,140

Oklahoma Leather Products, Inc.    Trade                  $66,471

B. Arrowhead Manufacturing Company, LLC's 20 Largest Unsecured
   Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
SunTrust Bank                      Amended and        $17,000,000
c/o Bradley MacLean                Restated
Mail Code NA1982                   Promissory Note
221 4th Avenue North               dated May 4, 2006
Nashville, TN 37219-2011
Tel: (615) 782-2200

Source 21                          Trade                  $54,916
P.O. Box 2100
Sound Beach, NY 11789

Staffing Solutions                 Trade                  $51,857
P.O. Box 406548
Atlanta, GA 30384-6548

Secoa Technology, LLC              Trade                  $50,832
205 Bear Creek Road
Dalton, GA 30721

Carolina Commercial                Trade                  $35,936
Heat Treatment
P.O. Box 712543
Cincinnati, OH 45271-2543

Norco Metal Finishing, Inc.        Trade                  $19,767

Rosler Metal Finishing USA         Trade                  $12,990

Southern Tool Steel, Inc.          Trade                  $12,000

City of Maryville Utilities        Utility                $10,601

Blair Strip Steel Company          Trade                  $10,201

Harcoating Technologies            Trade                   $8,621

Kinetic Composites, Inc.           Trade                   $7,478

Wurth Service Supply, Inc.         Trade                   $6,605

Saint-Gobain Abrasives             Trade                   $6,368

SunTrust Capital Markets, Inc.     Trade                   $5,153

Swisstek, Inc.                     Trade                   $4,662

Central Insurance Companies        Insurance               $4,643

Pro Tool                           Trade                   $4,543

McWilliams & Company PLLC          Accounting Services     $4,287

Spectra Environmental Group        Trade                   $4,225

C. Arrowhead Partners, L.P.'s Four Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
SunTrust Bank                      Amended and        $17,000,000
c/o Bradley MacLean                Restated
Mail Code NA1982                   Promissory Note
221 4th Avenue North               dated May 4, 2006
Nashville, TN 37219-2011
Tel: (615) 782-2200

Blount County Industrial           Bonds                  Unknown
Development Board
c/o Brian Daniels
201 South Washington Street
Maryville, TN 37804

Scott Graves                       Taxes                  Unknown
Blount County Trustee
Blount County Courthouse
347 Court Street
Maryville, TN 37804-5906

SunTrust Bank                      Bank Loan              Unknown
700 East Hill
Knoxville, TN 37915


VANGUARD HEALTH: Moody's Assigns Loss-Given-Default Rating
----------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the U.S. Hospital and Long-term Care sectors this
week, the rating agency confirmed its B2 Corporate Family Rating
for Vanguard Health Holding Company I, LLC, and its Caa1 rating on
the company's $216 million senior discount notes due 2015.
Moody's also assigned an LGD6 rating to those bonds, suggesting
noteholders will experience a 95% loss in the event of a default.

Additionally, Moody's revised or held its probability-of-default
ratings and assigned loss-given-default ratings on Vanguard Health
Holding Company II, LLC's loans and bond debt obligations:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default
   ----------           -------  -------  ------   ----------
   $250 Million
   Senior Secured
   Revolving Credit
   Facility due 2010      B2       Ba3     LGD2       26%

   $795.7 Million
   Senior Secured Term
   Loan due 2011          B2       Ba3     LGD2       26%

   9% Senior
   Subordinated
   Notes due 2014        Caa1      Caa1    LGD5       81%

Moody's explains that current long-term credit ratings are
opinions about expected credit loss, which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology
will also enhance the consistency in Moody's notching practices
across industries and will improve the transparency and accuracy
of Moody's ratings as Moody's research has shown that credit
losses on bank loans have tended to be lower than those for
similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's alpha-
numeric scale.  They express Moody's opinion of the likelihood
that any entity within a corporate family will default on any of
its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion
of expected loss are expressed as a percent of principal and
accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%) to
LGD6 (loss anticipated to be 90% to 100%).

Vanguard Health Systems, Inc. owns and operates 19 acute-care
facilities in five states.  Vanguard Health Holding Company I,
LLC, is Vanguard Health Systems' ultimate holding company, and
Vanguard Health Holding Company II, LLC, is its intermediate
holding company.


WARD PRODUCTS: Court Okays McGuireWoods as Bankruptcy Counsel
-------------------------------------------------------------
The Honorable Thomas J. Tucker of the U.S. Bankruptcy Court for
the Eastern District of Michigan in Detroit authorized Ward
Products, LLC, to employ McGuireWoods, L.L.P, as its bankruptcy
counsel, nunc pro tunc to Aug. 7, 2006.

As reported in the Troubled Company Reporter on Sept. 7, 2006,
McGuireWoods will:

     a) advise the Debtor with respect to its powers and duties
        as a debtor-in-possession in the continues management and
        operation of its business and properties;

     b) attend meetings and negotiate with representatives of
        creditors and other parties-in-interest;

     c) take all necessary action to protect and preserve the
        Debtor's estate, including the prosecution of actions on
        the Debtor's behalf, the defense of any action commenced
        against the Debtor, negotiations concerning all
        litigation in which the Debtor is involved, and
        objections to claims filed against the estate;

     d) prepare on behalf of the Debtor all motions,
        applications, answers, orders, reports and papers
        necessary to the administration of the estate;

     e) negotiate and prepare on the Debtor's behalf a plan of
        reorganization, disclosure statement, and all related
        agreements and documents, and take any necessary action
        on behalf of the Debtor to obtain confirmation of such
        plan;

     f) represent the Debtor in connection with post petition
        financing if obtained;

     g) advise the Debtor in connection with any potential sale
        of assets;

     h) appear before the Court, any appellate courts, and the
        U.S. Trustee and protect the interests of the Debtor's
        estate before the Courts and the U.S. Trustee;

     i) consult with the Debtor regarding tax, intellectual
        property, labor and employment, real estate, corporate
        finance, corporate and securities, and litigation
        matters; and

     k) perform all other necessary legal services and provide
        all other necessary legal advice to the Debtor in
        connection with its chapter 11 case.

The Debtor told the Court that the Firm holds a general retainer
of $53,000.  The Debtor had agreed that the Firm will hold this
retainer during the pendency of the case and will apply it against
the Firm's final fee application.

Mark E. Freedlander, Esq., a partner of McGuireWoods, disclosed
the Firm's current customary rates:

     Designation              Hourly Rates
     -----------              ------------
     attorneys                $525 - $255
     paralegals                  $145

Mr. Freedlander assured the Court that the Firm does not hold any
interest adverse to the Debtor and is disinterested as that term
defined in Section 101(14) of the Bankruptcy Code.

Headquarted in Royal Oak, Michigan, Ward Products, L.L.C.,
manufactures receiving antennas.  The Company filed for chapter
11 protection on Aug. 7, 2006 (Bankr. E.D. Mich. Case No.
06-50527).  Jay L. Welford, Esq., Judith Greenstone Miller,
Esq., Paige E. Barr, Esq., and Richard E. Kruger, Esq., at Jaffe
Franklin Heuer & Weis, P.C., and Mark E. Freedlander, Esq., at
McGuireWoods, L.L.P, represent the Debtor.  When the Debtor filed
for protection from its creditors, it estimated assets and debts
between $10 million and $50 million.


WARD PRODUCTS: Ct. OKs Halperin Battaglia as Panel's Lead Counsel
-----------------------------------------------------------------
The Honorable Thomas J. Tucker of the U.S. Bankruptcy Court for
the Eastern District of Michigan in Detroit authorized the
Official Committee of Unsecured Creditors of Ward Products, LLC,
to retain Halperin Battaglia Raicht, LLP, as its bankruptcy
counsel, nunc pro tunc to Aug. 23, 2006.

Halperin Battaglia will:

   (a) advise the Committee with respect to its rights, duties,
       and powers in the Debtor's case;

   (b) assist and advise the Committee in its consultations with
       the Debtor relative to the administration of the Debtor's
       case;

   (c) assist the Committee in analyzing the claims of Debtor's
       creditors and in negotiating with them;

   (d) assist with the Committee's investigation of the acts,
       conduct, assets, liabilities and financial condition of the
       Debtor and the operation of its business;

   (e) assist the Committee in its analysis of and negotiations
       with the Debtor or any third party concerning matters
       related to the realization by creditors of a recovery on
       claims and other means of realizing value in the Debtor's
       case;

   (f) review with the Committee whether a plan of reorganization
       should be filed by the Committee or some other third party
       and, if necessary, draft a plan and disclosure statement;

   (g) assist the Committee with respect to consideration by the
       Court of any disclosure statement or plan prepared or filed
       pursuant to Sections 1125 or 1121 of the Bankruptcy Code;

   (h) assist and advise the Committee with regard to its
       communications to the general creditor body regarding the
       Committee's recommendations on any proposed plan of
       reorganization or other significant matters in the Debtor's
       case;

   (i) represent the Committee at all hearings and other
       proceedings;

   (j) assist the Committee in its analysis of matters relating to
       the legal rights and obligations of the Debtor in respect
       of various agreements and applicable laws;

   (k) review and analyze all applications, orders, statements of
       operations, and schedules filed with the Court and advise
       the Committee as to their propriety;

   (l) assist the Committee in preparing pleadings and
       applications as may be necessary in furtherance of the
       Committee's interests and objectives; and

   (m) perform other legal services as may be required and deemed
       to be in the interest of the Committee in accordance with
       its powers and duties as set forth in the Bankruptcy Code.

Christopher J. Battaglia, Esq., a principal at Halperin Battaglia,
disclosed the Firm's hourly rates:

   Designation                    Hourly Rate
   -----------                    -----------
   Attorneys                      $175 - $395
   Law Clerks                         $100
   Paraprofessionals               $95 - $75

Mr. Battaglia assured the Court that the Firm does not represent
any interest adverse to the Committee upon matters, which the Firm
is to be engaged.

Headquarted in Royal Oak, Michigan, Ward Products, L.L.C.,
manufactures receiving antennas.  The Company filed for chapter
11 protection on Aug. 7, 2006 (Bankr. E.D. Mich. Case No.
06-50527).  Jay L. Welford, Esq., Judith Greenstone Miller,
Esq., Paige E. Barr, Esq., and Richard E. Kruger, Esq., at Jaffe
Franklin Heuer & Weis, P.C., and Mark E. Freedlander, Esq., at
McGuireWoods, L.L.P, represent the Debtor.  Christopher J.
Battaglia, Esq., at Halperin Battaglia Raicht, LLP, represents the
Official Committee of Unsecured Creditors.  When the Debtor filed
for protection from its creditors, it estimated assets and debts
between $10 million and $50 million.


WARD PRODUCTS: Ct. OKs Sommers & Schwartz as Panel's Local Counsel
------------------------------------------------------------------
The Honorable Thomas J. Tucker of the U.S. Bankruptcy Court for
the Eastern District of Michigan in Detroit authorized the
Official Committee of Unsecured Creditors of Ward Products, LLC,
to retain Sommers & Schwartz, P.C., as its local bankruptcy
counsel, nunc pro tunc to Aug. 25, 2006.

Sommers & Schwartz will:

   (a) advise the Committee with respect to its rights, duties,
       and powers in the Debtor's case;

   (b) assist and advise the Committee in its consultations with
       the Debtor relative to the administration of its case;

   (c) assist the Committee in analyzing the claims of the
       Debtor's creditors and in negotiating with them;

   (d) assist with the Committee's investigation of the acts,
       conduct, assets, liabilities and financial condition of the
       Debtor and the operation of the Debtor's business;

   (e) assist the Committee in its analysis of and negotiations
       with the Debtor or any third party concerning matters
       related to the realization by creditors of a recovery on
       claims and other means of realizing value in the Debtor's
       case;

   (f) review with the Committee whether a plan of reorganization
       should be filed by the Committee or some other third party
       and, if necessary, draft a plan and disclosure statement;

   (g) assist the Committee with respect to consideration by the
       Court of any disclosure statement or plan prepared or filed
       pursuant to Sections 1125 or 1121 of the Bankruptcy Code;

   (h) assist and advise the Committee with regard to its
       communications to the general creditor body regarding the
       Committee's recommendations on any proposed plan of
       reorganization or other significant matters in the Debtor's
       case;

   (i) represent the Committee at all hearings and other
       proceedings;

   (j) assist the Committee in its analysis of matters relating to
       the legal rights and obligations of the Debtor in respect
       of various agreements and applicable laws;

   (k) review and analyze all applications, orders, statements of
       operations and schedules filed with the Court and advise
       the Committee as to their propriety;

   (l) assist the Committee in preparing pleadings and
       applications as may be necessary in furtherance of the
       Committee's interests and objectives; and

   (m) perform other legal services as may be required and deemed
       to be in the interest of the Committee in accordance with
       its powers and duties as set forth in the Bankruptcy Code.

Sommers & Schwartz and Halperin Battaglia Raicht, LLP, the
Committee's lead counsel, will take all necessary steps to prevent
duplication of efforts.

Andrew Kochanowski, Esq, a principal at Sommers & Schwartz, P.C.,
disclosed the Firm's current hourly rates:

   Designation                   Hourly Rate
   -----------                   -----------
   Attorneys                     $200 - $350
   Paraprofessionals              $75 - $100
   Law Clerks                        $50

Mr. Kochanowski assured the Court that the Firm does not hold nor
represent any interest adverse to the Committee.

Headquarted in Royal Oak, Michigan, Ward Products, L.L.C.,
manufactures receiving antennas.  The Company filed for chapter
11 protection on Aug. 7, 2006 (Bankr. E.D. Mich. Case No.
06-50527).  Jay L. Welford, Esq., Judith Greenstone Miller,
Esq., Paige E. Barr, Esq., and Richard E. Kruger, Esq., at Jaffe
Franklin Heuer & Weis, P.C., and Mark E. Freedlander, Esq., at
McGuireWoods, L.L.P, represent the Debtor.  Christopher J.
Battaglia, Esq., at Halperin Battaglia Raicht, LLP, and Andrew
Kochanowski, Esq, at Sommers & Schwartz, P.C., represent the
Official Committee of Unsecured Creditors.  When the Debtor filed
for protection from its creditors, it estimated assets and debts
between $10 million and $50 million.


WERNER LADDER: Wants Ct. to Deny Complainant's Stay Relief Demand
-----------------------------------------------------------------
Werner Holding Co. (DE), Inc., aka Werner Ladder Company, and its
debtor-affiliates ask the U.S. Bankruptcy Court for the District
of Delaware to deny complainant Jeffrey Lapp's request for relief
from the automatic stay under Section 362(a) of the Bankruptcy
Code.

                            Background

As reported in the Troubled Company Reporter on Sept. 7, 2006,
Mr. Lapp sought the Court to modify the automatic stay to allow
him to pursue a personal injury action in the U.S. District Court
for the District of Nebraska against Werner Ladder.

Mr. Lapp filed a cause of action on May 19, 2005, in the District
Court of Keith County, Nebraska seeking damages for, inter alia,
injuries he sustained when a brace on a ladder manufactured by
Werner Co. had a rivet, which failed causing the ladder to become
unsteady and him to fall.  According to Mr. Lapp, he got injured
while he was on the job.  As a result of the accident, Mr. Lapp
sustained serious physical injuries and has incurred $305,910 in
past medical bills.  He has been rendered unable to work and
placed on Social Security Disability as a result of the accident
and injuries.

The Debtor removed the action to the U.S. District Court for the
District of Nebraska on July 1, 2005.  The Debtor, in its Rule 26
Disclosures and in discovery, stated that there is excess and
umbrella coverage in the above-titled action.  Mr. Lapp seeks
a jury trial to assess the liability of the Debtor and its
insurance carriers and to assess damages against the Debtor's
insurance carriers.

Substantial discovery in the Action has already been completed.
The Action is set for jury trial on Oct. 30, 2006.

Mr. Lapp asserts he is entitled to a jury trial in the District
Court because the Bankruptcy Court has no authority to hear
personal injury claims.  Mr. Lapp stipulates that he is not
seeking, and will not seek immediate recovery against the Debtor
or its estate for any amount owing him over and above the
Debtor's primary, excess or umbrella insurance.

Absent relief from the automatic stay, Mr. Lapp says he would be
prejudiced and harmed by a delay in liquidating his claim against
the Debtor, as he has unpaid medical bills and expenses, which
continue to accrue.

                        Debtor's Argument

Robert S. Brady, Esq., at Young Conaway Stargatt & Taylor, LLP,
in Wilmington, Delaware, explains that if the Debtors are forced
to participate in the proceedings commenced by Mr. Lapp before
the District Court of Keith County, Nebraska, the Debtors would
need to expend resources at a time when their attention is needed
elsewhere.  There are already significant and conflicting demands
on management's time, including continuing to develop and
finalize the Debtors' long-term strategic plan.

Mr. Brady also asserts that granting Mr. Lapp relief from the
stay will most assuredly present a significant and immediate
financial burden on the Debtors, and the automatic stay will not
prejudice Mr. Lapp given that he waited over two years to bring
the suit after his alleged injury.

                        About Werner Ladder

Headquartered in Greenville, Pennsylvania, Werner Co. --
http://www.wernerladder.com/-- manufactures and distributes
ladders, climbing equipment and ladder accessories.  The company
and three of its affiliates filed for chapter 11 protection on
June 12, 2006 (Bankr. D. Del. Case No. 06-10578).

The firm of Willkie Farr & Gallagher LLP serves as the Debtors'
counsel.  Kara Hammond Coyle, Esq., Matthew Barry Lunn, Esq., and
Robert S. Brady, Esq., Young, Conaway, Stargatt & Taylor, LLP,
represents the Debtors as its co-counsel.  The Debtors have
retained Rothschild Inc. as their financial advisor.  Greenberg
Traurig LLP is counsel to the Official Committee of Unsecured
Creditors.  Jefferies & Co serves as the Committee's financial
advisor.

At March 31, 2006, the Debtors reported total assets of
$201,042,000 and total debts of $473,447,000.  (Werner Ladder
Bankruptcy News, Issue No. 10; Bankruptcy Creditors' Service,
Inc., http://bankrupt.com/newsstand/or 215/945-7000)


WESTERN MEDICAL: Hires Polese Pietzsch as Special Counsel
---------------------------------------------------------
The U.S. Bankruptcy Court for the District of Arizona gave Western
Medical Inc. permission to employ Polese, Pietzsch, Williams &
Nolan, P.A., as its special counsel, nunc pro tunc to
June 15, 2006.

The firm is expected to negotiate with the U.S. Internal Revenue
Service regarding compromise of federal tax claims against the
Debtor resulting from failure to deposit withholding taxes in
prior years.

The Debtor told the Court that it has paid the firm $5,000 as
retainer.

James F. Polese, Esq., at Polese Pietzsch, will bill $350 per hour
for this engagement.  The billing rate for the firm's other
professionals are:

     Designation                  Hourly Rate
     ------------                 -----------
     Partners                         $250
     Paralegals                       $175

Mr. Polese assured the Court that his firm does not hold any
interest adverse to the Debtor's estates.

Mr. Polese can be contacted at:

     James F. Polese, Esq.
     Polese, Pietzsch, Williams & Nolan, P.A.
     2702 North Third Street, Suite 3000
     Phoenix, Arizona 85004-4607
     Tel: (602) 604-6200
     Fax: (602) 279-5107
     http://ppwnlaw.com/

Headquartered in Phoenix, Arizona, Western Medical, Inc. --
http://www.westernmedicalinc.net/-- sells and distributes medical
and hospital equipment.  The company filed for chapter 11
protection on June 15, 2006 (Bankr. D. Ariz. Case No. 06-01784).
Brenda K. Martin, Esq., at Osborn Maledon, P.A., represents
the Debtor.  Pachulski Stang Ziehl Jones and Weintraub LLP,
represents the Official Committee of Unsecured Creditors.  When
the Debtor filed for protection from its creditors, it estimated
assets between $1 million to $10 million and debts between
$10 million and $50 million.


WESTERN MEDICAL: Hires Snell & Wilmer as Special Counsel
--------------------------------------------------------
The U.S. Bankruptcy Court for the District of Arizona gave
Western Medical Inc. permission to employ Snell & Wilmer LLP,
as special counsel, nunc pro tunc to the June 15, 2006.

Snell & Wilmer is expected to assist the Debtor in the transition
of its accounts and customer lists, pursuant to the contemplated
sale of its assets.

The Debtor disclosed that the firm holds a pre-petition retainer
of $17,214.50.

Paulo Giancola, Esq., attorney of the firm, will bill $420 per
hour for this engagement.  Ethan B. Minkin will also be rendering
his services at $350 per hour.

Mr. Giancola assured the court that his firm does not hold any
interest adverse to the Debtor's estates and is a "disinterested
person" as that term defined in Section 101(14) of the Bankruptcy
Code.

Headquartered in Phoenix, Arizona, Western Medical, Inc.
-- http://www.westernmedicalinc.net/-- sells and distributes
medical and hospital equipment.  The company filed for
chapter 11 protection on June 15, 2006 (Bankr. D. Ariz. Case
No. 06-01784).  Brenda K. Martin, Esq., at Osborn Maledon, P.A.,
represents the Debtor.  Pachulski Stang Ziehl Jones and Weintraub
LLP, represents the Official Committee of Unsecured Creditors.
When the Debtor filed for protection from its creditors, it
estimated assets  between $1 million to $10 million and debts
between $10 million and $50 million.


WG PROPERTY: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: WG Property Investments, Inc.
        450 Park Avenue, Suite 1902
        New York, NY 10022

Bankruptcy Case No.: 06-12348

Chapter 11 Petition Date: October 2, 2006

Court: Southern District of New York (Manhattan)

Judge: Burton R. Lifland

Debtor's Counsel: Linda J. Casey, Esq.
                  Pepper Hamilton LLP
                  3000 Two Logan Square
                  Eighteenth and Arch Streets
                  Philadelphia, PA 19103
                  Tel: (215) 981-4000
                  Fax: (215) 981-4750

Total Assets: $1 Million to $10 Million

Total Debts:  $1 Million to $10 Million0

The Debtor did not file a list of its 20 Largest Unsecured
Creditors.


WHITE RIVER: Ct. OKs Realization Advisors as Restructuring Officer
------------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Indiana
allowed White River Coal, Inc. and its debtor-affiliates to employ
Realization Advisors, Inc., as their bankruptcy restructuring
officer, nunc pro tunc to May 22, 2006.

Realization Advisors is expected to:

     a) assist in developing a short-term financial model,
        including projections and financial forecasts, on a
        cash-flow basis, to facilitate continuing operations
        of the Debtors' mine, cost reductions, creditor
        negotiations, and expedite decision making;

     b) facilitate further cost cutting, cash management and
        controls, materials and labor management, accounts
        receivable management and collection, employee and
        management evaluation, and claims and creditor
        management efforts to improve short-term results;

     c) aid in negotiating and facilitating a forbearance
        arrangement, adequate protection arrangements, and
        debtor-in-possession financing with the Debtors' lenders
        in order to preserve value, insure continued operations,
        and allow for all business alternatives to be properly
        evaluated;

     d) assist management with cash flow and liquidity management
        to sustain business viability, including management of
        cash disbursements;

     e) develop and assess alternative business and asset
        disposition strategies;

     f) develop a "critical path" timeline for continuing business
        and sale efforts;

     g) assist in the evaluation, development and implementation
        of any employee retention and incentive plan;

     h) facilitate valuations on a sale, liquidation and going-
        concern basis;

     i) supervise, lead, direct, and facilitate aggressive sale
        efforts of the business and its assets to maximize
        recovery, including management of the entire sale process,
        preparation of offering materials, leading active,
        solicitation of interested acquirors, due diligence, and
        competitive bidding;

     j) supervise and direct, with management, communication with
        lenders, lessors, creditors, stakeholders, and other
        parties-in-interest;

     k) assist and advise in the evaluation of executory contracts
        and leases, including renegotiation and restructuring of
        supply contracts;

     l) provide testimony regarding all of the foregoing, and
        collateral value and adequate protection of the lenders'
        collateral, as needed;

     m) assist counsel and direct the evaluation, prosecution, and
        negotiation of potential litigation arising from or
        related to the acquisition of the Debtors' assets; and

     n) provide additional financial advisory services to assist
        the Debtors and their operations, including but not
        limited to bankruptcy planning and reorganization
        services, development of a plan of reorganization,
        documentation and testimony supporting the feasibility
        and approval of the plan, and post-approval wind-down an
        implementation.

The Debtors disclosed that Michael L. Kayman, Esq., a principal of
the firm, will receive $35,000 per month for this engagement.  Mr.
Kayman will also receive a non-refundable retainer of $35,000 at
the end of his tenure as chief restructuring officer.

Mr. Kayman assured the Court that his firm does not hold any
interest adverse to the Debtors' estate and is a "disinterested
person" as that term defined in Section 101(14) of the Bankruptcy
Code.

Mr. Kayman can be reached at:

     Michael L. Kayman, Esq.
     Realization Advisors, Inc.
     10 S. Riverside Plaza, Suite 1800
     Chicago, Illinois 60606
     Tel: (630) 531-6050
     Fax: (630) 563-0799

Based in Hazleton, Indiana, White River Coal, Inc., operates a
mining company.  The Company and its affiliates filed for chapter
11 protection on May 22, 2006 (Bankr. S.D. Ind. Case Nos. 06-70375
through 06-70379).  C.R. Bowles, Jr., Esq., at Greenbaum Doll &
McDonald PLLC, represents the Debtors in their restructuring
efforts.  When the Debtor filed for protection from their
creditors, they listed assets totaling $2 million and debts
totaling $35 million.


WHITE RIVER: Taps Buchanan Ingersoll as Special Counsel
-------------------------------------------------------
White River Coal, Inc., and its debtor-affiliates ask the U.S.
Bankruptcy Court for the Southern District of Indiana, for
permission to employ Buchanan Ingersoll, PC, as their special
counsel, nunc pro tunc to May 22, 2006.

Buchanan Ingersoll will provide legal services to the Debtors
in connection with the negotiation and documentation of a coal
supply agreement between the Debtor's affiliate, Bronco Hazelton
Co., and PSI Energy, Inc.

On Dec. 29, 2005, Bronco Hazelton purchased an underground coal
mining operation for $30.25 million.  As a result of the purchase,
White River acquired the PSI Energy coal supply agreement.

Bruce A. Americus, Esq., a shareholder at the firm, will bill at
$500 per hour for this engagement.  Matthew Burger, Esq., will
also be rendering his services and will bill at $335 per hour.

Mr. Americus assures the Court that his firm does not hold any
interest adverse to the Debtors' estates and is a "disinterested
person" as that term define in Section 101(14) of the Bankruptcy
Code.

Based in Hazleton, Indiana, White River Coal, Inc., operates a
mining company.  The Company and its affiliates filed for chapter
11 protection on May 22, 2006 (Bankr. S.D. Ind. Case Nos. 06-70375
through 06-70379).  C.R. Bowles, Jr., Esq., at Greenbaum Doll &
McDonald PLLC, represents the Debtors in their restructuring
efforts.  When the Debtor filed for protection from their
creditors, they listed assets totaling $2 million and debts
totaling $35 million.


WINN-DIXIE: Wants to Reject Seven Negotiated Contracts
------------------------------------------------------
Winn-Dixie Stores, Inc., and its debtor-affiliates ask the U.S.
Bankruptcy Court for the Middle District of Florida to approve the
negotiated rejection of prepetition supply agreements with five
vendors, effective as of Oct. 12, 2006.

The Contracts include agreements between:

   (1) Winn-Dixie Stores, Inc., and AT&T Corp., effective July 1,
       2000;

   (2) Winn-Dixie Stores and Bergensons Property Services, Inc.,
       dated March 3, 2004;

   (3) Winn-Dixie Stores and Personal Optics, Inc., effective
       December 12, 2002;

   (4) Winn-Dixie Stores and The Smithfield Packing Company,
       dated September 7, 2004;

   (5) Winn-Dixie Stores and TRM Corp., dated December 11, 2001;

   (6) Winn-Dixie Raleigh, Inc., and TRM, dated December 11,
       2001; and

   (7) Winn-Dixie Montgomery, Inc., and TRM, dated December 11,
       2001.

Cynthia C. Jackson, Esq., at Smith Hulsey & Busey, in
Jacksonville, Florida, relates that the Debtors and the Vendors
have negotiated the terms by which the prepetition supply
agreements will be rejected, and the treatment of the Vendors'
claims.

The Debtors used the Vendors' services before their bankruptcy
filing, and desire to continue their relationship with the
Vendors.  Due to the current condition of the Debtors' business,
however, the terms of the prepetition supply agreements are no
longer economically feasible.

As a result of the negotiations, Ms. Jackson says, the Debtors
have decided to reject the prepetition supply agreements in favor
of new contracts with the Vendors on more favorable terms.
Although each agreement is unique, the Vendors have agreed to
waive all claims for rejection damages.

A full-text copy of the claims resolution is available for free at
http://ResearchArchives.com/t/s?12c8

In addition, the Debtors ask the Court to allow them to reject
their contracts with CSX Corporation and Brigham, Moore, Gaylord,
Schuster, Merlin & Tobin LLP.  According to Ms. Jackson, the two
contracts are no longer necessary to the Debtors' businesses.

Accordingly, the Debtors further ask the Court to approve the
agreed resolution of the Vendors' associated claims and establish
October 23, 2006 as the deadline for filing rejection damage
claims relating to the rejection of the CSX and Brigham, et al.
Contracts.

Headquartered in Jacksonville, Florida, Winn-Dixie Stores, Inc.
-- http://www.winn-dixie.com/-- is one of the nation's largest
food retailers.  The Company operates 527 stores in Florida,
Alabama, Louisiana, Georgia, and Mississippi.  The Company,
along with 23 of its U.S. subsidiaries, filed for chapter 11
protection on Feb. 21, 2005 (Bankr. S.D.N.Y. Case No. 05-11063,
transferred Apr. 14, 2005, to Bankr. M.D. Fla. Case Nos.
05-03817 through 05-03840).  D.J. Baker, Esq., at Skadden
Arps Slate Meagher & Flom LLP, and Sarah Robinson Borders,
Esq., and Brian C. Walsh, Esq., at King & Spalding LLP,
represent the Debtors in their restructuring efforts.
Paul P. Huffard at The Blackstone Group, LP, gives
financial advisory services to the Debtors.  Dennis F. Dunne,
Esq., at Milbank, Tweed, Hadley & McCloy, LLP, and John B.
Macdonald, Esq., at Akerman Senterfitt give legal advice to the
Official Committee of Unsecured Creditors.  Houlihan Lokey &
Zukin Capital gives financial advisory services to the
Committee.  When the Debtors filed for protection from their
creditors, they listed $2,235,557,000 in total assets and
$1,870,785,000 in total debts.  (Winn-Dixie Bankruptcy News,
Issue No. 54; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


WINN-DIXIE: Court Okays Rejection of 267 Contracts & Leases
-----------------------------------------------------------
The Honorable Jerry A. Funk of the U.S. Bankruptcy Court for the
Middle District of Florida authorizes Winn-Dixie Stores, Inc., and
its debtor-affiliates to reject 267 contracts and leases,
effective as of Sept. 21, 2006.

The Debtors withdraw without prejudice, and reserve the right to
include in a subsequent request to assume or reject, their
contract with Air Products & Chemicals, Inc.

As reported in the Troubled Company Reporter on Sept 15, 2006,
the contracts were for goods and services that are no longer
necessary to the Debtors' businesses, according to Cynthia C.
Jackson, Esq., at Smith Hulsey & Busey, in Jacksonville, Florida.

A list of the contracts is available free of charge at
http://ResearchArchives.com/t/s?118d

In addition, the Debtors were parties to 162 prepetition
arrangements with various counterparties for goods or services
that are also unnecessary to the Debtors' ongoing operations and
businesses.  The Debtors have not been able to locate any written
contracts or leases documenting the prepetition arrangements,
Ms. Jackson related.

A list of these items is available free of charge at
http://ResearchArchives.com/t/s?118c

Headquartered in Jacksonville, Florida, Winn-Dixie Stores, Inc.
-- http://www.winn-dixie.com/-- is one of the nation's largest
food retailers.  The Company operates 527 stores in Florida,
Alabama, Louisiana, Georgia, and Mississippi.  The Company,
along with 23 of its U.S. subsidiaries, filed for chapter 11
protection on Feb. 21, 2005 (Bankr. S.D.N.Y. Case No. 05-11063,
transferred Apr. 14, 2005, to Bankr. M.D. Fla. Case Nos.
05-03817 through 05-03840).  D.J. Baker, Esq., at Skadden
Arps Slate Meagher & Flom LLP, and Sarah Robinson Borders,
Esq., and Brian C. Walsh, Esq., at King & Spalding LLP,
represent the Debtors in their restructuring efforts.
Paul P. Huffard at The Blackstone Group, LP, gives
financial advisory services to the Debtors.  Dennis F. Dunne,
Esq., at Milbank, Tweed, Hadley & McCloy, LLP, and John B.
Macdonald, Esq., at Akerman Senterfitt give legal advice to the
Official Committee of Unsecured Creditors.  Houlihan Lokey &
Zukin Capital gives financial advisory services to the
Committee.  When the Debtors filed for protection from their
creditors, they listed $2,235,557,000 in total assets and
$1,870,785,000 in total debts.  (Winn-Dixie Bankruptcy News,
Issue No. 54; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


WINN-DIXIE: Judge Funk Okays Assumption of 12 Store Leases
----------------------------------------------------------
The Honorable Jerry A. Funk of the U.S. Bankruptcy Court for the
Middle District of Florida authorizes Winn-Dixie Stores, Inc., and
its debtor-affiliates to assume the leases for Store Nos. 153,
231, 281, 426, 454, 460, 556, 698, 2258, 2301, 2311, and 2348,
effective as of the effective date of their Joint Plan of
Reorganization.

Judge Funk fixes the cure amounts for the assumed leases not
subject to cure objections by the landlords.

Judge Funk orders the Debtors to pay on the Effective Date the
cure amounts due to landlords who filed cure objections.  If the
parties are unable to resolve the cure objections consensually,
the Debtors are directed to set the objections for hearing before
the Court.

Judge Funk clarifies that if the Effective Date does not occur,
the Court Order will be null and void.

Headquartered in Jacksonville, Florida, Winn-Dixie Stores, Inc.
-- http://www.winn-dixie.com/-- is one of the nation's largest
food retailers.  The Company operates 527 stores in Florida,
Alabama, Louisiana, Georgia, and Mississippi.  The Company,
along with 23 of its U.S. subsidiaries, filed for chapter 11
protection on Feb. 21, 2005 (Bankr. S.D.N.Y. Case No. 05-11063,
transferred Apr. 14, 2005, to Bankr. M.D. Fla. Case Nos.
05-03817 through 05-03840).  D.J. Baker, Esq., at Skadden
Arps Slate Meagher & Flom LLP, and Sarah Robinson Borders,
Esq., and Brian C. Walsh, Esq., at King & Spalding LLP,
represent the Debtors in their restructuring efforts.
Paul P. Huffard at The Blackstone Group, LP, gives
financial advisory services to the Debtors.  Dennis F. Dunne,
Esq., at Milbank, Tweed, Hadley & McCloy, LLP, and John B.
Macdonald, Esq., at Akerman Senterfitt give legal advice to the
Official Committee of Unsecured Creditors.  Houlihan Lokey &
Zukin Capital gives financial advisory services to the
Committee.  When the Debtors filed for protection from their
creditors, they listed $2,235,557,000 in total assets and
$1,870,785,000 in total debts.  (Winn-Dixie Bankruptcy News,
Issue No. 54; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


WINN-DIXIE: Leesburg Asset Sold to FL DOT & Edgewood Asset to AJDC
------------------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida
grants Winn-Dixie Stores, Inc., and its debtor-affiliates' request
to sell the Leesburg Outparcel to the State of Florida Department
of Transportation, and the Edgewood Outparcel to AJDC LLC, free
and clear of liens, claims, interests, and encumbrances.

The Court denies all objections to the transactions and overrules
them on the merits.

The Court notes that the Debtors have afforded all interested
parties a reasonable opportunity to make higher or better offers
for the Outparcels.

The Court also waives the 10-day stay period to permit the
Debtors to close the transactions promptly.

               Leesburg Outparcel Purchase Agreement

As reported in the Troubled Company Reporter on Sept. 13, 2006,
the Florida Transportation Dept. entered on Aug. 18, 2006, into a
real estate purchase agreement with the Debtors and Huber
Investments, which holds the remaining 50% interest in the
Leesburg Outparcel.  Material terms of the Leesburg Outparcel
Purchase Agreement included:

   (i) The net aggregate purchase price for the entire fee simple
       interest in the Leesburg Outparcel is $354,500, of which
       $177,250 will go to the Debtors;

  (ii) The Debtors are responsible for payment of the commission
       due to their brokers; and

(iii) The Leesburg Outparcel and related assets are to be
       transferred free and clear of any liens, claims, interests
       and encumbrances other than the permitted encumbrances.

               Edgewood Outparcel Purchase Agreement

The Debtors and AJDC entered into a real estate purchase
agreement on March 16, 2006, and have amended the agreement seven
times since then.  Material terms of the Edgewood Outparcel
Purchase Agreement include:

     * The net aggregate purchase price for the Edgewood
       Outparcel is $480,000.  AJDC has deposited $35,000 with
       escrow agent Smith, Gambrell & Russell LLP;

     * The Debtors have agreed to pay a $20,000 termination fee
       if AJDC is not the successful bidder at the auction for
       the Edgewood Outparcel;

     * The Debtors are responsible for payment of a brokerage
       commission of 3% of the Purchase Price due to AJDC's
       broker if the transaction is consummated; and

     * The Edgewood Outparcel are to be transferred free and
       clear of liens, claims, interests and encumbrances other
       than the permitted encumbrances.

Headquartered in Jacksonville, Florida, Winn-Dixie Stores, Inc.
-- http://www.winn-dixie.com/-- is one of the nation's largest
food retailers.  The Company operates 527 stores in Florida,
Alabama, Louisiana, Georgia, and Mississippi.  The Company,
along with 23 of its U.S. subsidiaries, filed for chapter 11
protection on Feb. 21, 2005 (Bankr. S.D.N.Y. Case No. 05-11063,
transferred Apr. 14, 2005, to Bankr. M.D. Fla. Case Nos.
05-03817 through 05-03840).  D.J. Baker, Esq., at Skadden
Arps Slate Meagher & Flom LLP, and Sarah Robinson Borders,
Esq., and Brian C. Walsh, Esq., at King & Spalding LLP,
represent the Debtors in their restructuring efforts.
Paul P. Huffard at The Blackstone Group, LP, gives
financial advisory services to the Debtors.  Dennis F. Dunne,
Esq., at Milbank, Tweed, Hadley & McCloy, LLP, and John B.
Macdonald, Esq., at Akerman Senterfitt give legal advice to the
Official Committee of Unsecured Creditors.  Houlihan Lokey &
Zukin Capital gives financial advisory services to the
Committee.  When the Debtors filed for protection from their
creditors, they listed $2,235,557,000 in total assets and
$1,870,785,000 in total debts.  (Winn-Dixie Bankruptcy News,
Issue No. 54; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


W.R. GRACE: Wants Court to Bar 43 Proofs of Claim
-------------------------------------------------
W.R. Grace Co. and its debtor-affiliates ask the U.S. Bankruptcy
Court for the District of Delaware to disallow, reclassify, or
reduce, as appropriate, 43 proofs of claim, aggregating
approximately $10,500,000, filed in their Chapter 11 cases.

Specifically, the Debtors ask the Court to disallow and expunge 28
claims having no liability according to their books and records.

The No Liability Claims, aggregating approximately $9,600,000,
include:

   Claimant                                Claim No.     Amount
   --------                                ---------     ------
   Florida Dep't. of
      Environmental Protection                8596   $9,314,032
   Unifirst Corp.                             9562       86,697
   NTFC Capital Corp.                          749       74,736
   Toyota Motor Credit Corp.                   450       46,732
   CSX Transportation                          673       24,648

The Debtors want two claims reclassified as general unsecured
claims and reduced to these amounts:

                                               Amount    Amount
   Claimant                       Claim No.  Asserted   Reduced
   --------                       ---------  --------   -------
   Xerox Corp.                      391       $10,696  $199,435
                                              207,925         0

   Chesapeake Industrial           1195           129         0
      Leasing Co., Inc.                           643       129

The Debtors seek to reduce and allow, based on their books and
records, seven claims asserting incorrect amounts:

                                               Amount    Amount
   Claimant                       Claim No.  Asserted   Reduced
   --------                       ---------  --------   -------
   Bankers Trust Co.                736        $7,770    $5,000
   Gordon & Rees LLP                615       249,280   149,280
   Kent Holding LLC               13948       412,174   252,095
   Public Service Co. of Colorado   884        13,501    13,094
   Sierra Capital                   763         2,738     2,857
   TXU Electric Co.                 323         1,904       189
   Williams Communications Sol.     875         9,274     3,625

In addition, the Debtors identified two claims having no basis
for priority under Section 507(a) of the Bankruptcy Code and,
thus should be reclassified as general unsecured claims:

   Claimant                                Claim No.     Amount
   --------                                ---------     ------
   Burroughs, Hepler, Broom,
      MacDonald, HEB                          687       $60,311
   Cowles & Thompson PC                        67        14,815

The Debtors want Cummings Properties LLC's Claim No. 4242
expunged because it asserts an unliquidated amount.

Furthermore, the Debtors ask the Court to disallow and expunge
three claims due to insufficient documentation:

   Claimant                                Claim No.     Amount
   --------                                ---------     ------
   Bellsouth Consolidated                      438       $2,283
   CSX Transportation                          673       24,648
   Tennessee Revenue Department              17020        1,818

                         About W.R. Grace

Headquartered in Columbia, Maryland, W.R. Grace & Co. (NYSE:GRA)
-- http://www.grace.com/-- supplies catalysts and silica
products, especially construction chemicals and building
materials, and container products globally.  The Company and its
debtor-affiliates filed for chapter 11 protection on April 2, 2001
(Bankr. D. Del. Case No. 01-01139).  James H.M. Sprayregen, Esq.,
at Kirkland & Ellis, and Laura Davis Jones, Esq., at Pachulski,
Stang, Ziehl, Young, Jones & Weintraub, P.C., represent the
Debtors in their restructuring efforts.  The Debtors hired
Blackstone Group, L.P., for financial advice.
PricewaterhouseCoopers LLP is the Debtors' accountant.

Stroock & Stroock & Lavan LLP represent the Official Committee of
Unsecured Creditors.  The Creditors Committee tapped Capstone
Corporate Recovery LLC for financial advice.  David T. Austern,
the legal representative of future asbestos personal injury
claimants, is represented by Orrick Herrington & Sutcliffe LLP and
Phillips Goldman & Spence, PA.  Anderson Kill & Olick, P.C.,
represent the Official Committee of Asbestos Personal Injury
Claimants.  The Asbestos Committee of Property Damage Claimants
tapped Martin W. Dies, III, Esq., at Dies & Hile L.L.P., and C.
Alan Runyan, Esq., at Speights & Runyan,to represent it.  Lexecon,
LLP, provided asbestos claims consulting services to the Official
Committee of Equity Security Holders.  (W.R. Grace Bankruptcy
News, Issue No. 116; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


W.R. GRACE: Wants Anderson Memorial's Lift Stay Request Denied
--------------------------------------------------------------
W.R. Grace Co. and its debtor-affiliates ask the U.S. Bankruptcy
Court for the District of Delaware to deny Anderson Memorial
Hospital's request to lift the stay so it can ask a South Carolina
state court to unseal a record from a prepetition case.

James E. O'Neill, Esq., at Pachulski Stang Ziehl Young Jones &
Weintraub LLP, in Wilmington, Delaware, tells Judge Fitzgerald
that issues relating to the South Carolina proceeding have
already been extensively addressed in filings and hearings in
January and August 2006 before the Bankruptcy Court.

Mr. O'Neill notes that as of September 15, 2006, there are 656
pending asbestos property damage claims -- 300 fewer claims than
in January, when the Bankruptcy Court recognized that the
numerosity requirement for class certification purposes cannot be
met.

Thus, Mr. O'Neill states, it is even clearer now that there is no
need to lift the automatic stay because, regardless of whatever
transpired in the South Carolina case before February 2001, "in
this Bankruptcy Court matter, no class can be certified because
the numerosity requirement cannot be met."

                         About W.R. Grace

Headquartered in Columbia, Maryland, W.R. Grace & Co. (NYSE:GRA)
-- http://www.grace.com/-- supplies catalysts and silica
products, especially construction chemicals and building
materials, and container products globally.  The Company and its
debtor-affiliates filed for chapter 11 protection on April 2, 2001
(Bankr. D. Del. Case No. 01-01139).  James H.M. Sprayregen, Esq.,
at Kirkland & Ellis, and Laura Davis Jones, Esq., at Pachulski,
Stang, Ziehl, Young, Jones & Weintraub, P.C., represent the
Debtors in their restructuring efforts.  The Debtors hired
Blackstone Group, L.P., for financial advice.
PricewaterhouseCoopers LLP is the Debtors' accountant.

Stroock & Stroock & Lavan LLP represent the Official Committee of
Unsecured Creditors.  The Creditors Committee tapped Capstone
Corporate Recovery LLC for financial advice.  David T. Austern,
the legal representative of future asbestos personal injury
claimants, is represented by Orrick Herrington & Sutcliffe LLP and
Phillips Goldman & Spence, PA.  Anderson Kill & Olick, P.C.,
represent the Official Committee of Asbestos Personal Injury
Claimants.  The Asbestos Committee of Property Damage Claimants
tapped Martin W. Dies, III, Esq., at Dies & Hile L.L.P., and C.
Alan Runyan, Esq., at Speights & Runyan,to represent it.  Lexecon,
LLP, provided asbestos claims consulting services to the Official
Committee of Equity Security Holders.  (W.R. Grace Bankruptcy
News, Issue No. 116; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


YI INVESTMENT: Case Summary & 11 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: YI Investment Group Incorporated
        dba YIs Car Wash
        2035 Royal Lane, Suite 290
        Dallas, TX 75229

Bankruptcy Case No.: 06-33842

Chapter 11 Petition Date: September 6, 2006

Court: Northern District of Texas (Dallas)

Judge: Stacey G. Jernigan

Debtor's Counsel: Arthur I. Ungerman, Esq.
                  One Glen Lakes Tower 8140
                  Walnut Hill Lane, No. 301
                  Dallas, TX 75231
                  Tel: (972) 239-9055
                  Fax: (972)-239-9886

Estimated Assets: $1 Million to $10 Million

Estimated Debts:  $1 Million to $10 Million

Debtor's 11 Largest Unsecured Creditors:

   Entity                     Nature of Claim       Claim Amount
   ------                     ---------------       ------------
Bank of America               Credit Card                $19,467
P.O. Box 2463
Spokane, WA 99210-2463


Twin Distributing, Inc.                                  $12,969
PO Box 2229
Denison, TX 75021

David Childs                                              $5,201
Tax Assessor/Collector
PO Box 139066
Dallas, TX 75313-9066

Cactus Environmental                                      $2,766

Tara Energy                   Utilities                     $818

Grand Prairie Disposal        Utilities                     $142

AT&T                          Utilities                      $87

United Central Bank                                           $0

State Bank of Texas                                           $0

City of Grand Prairie         Utilities                       $0
Water Utilities

Atmos Energy                  Utilities                       $0


* Cooley Godward Completes Merger With Kronish Lieb
---------------------------------------------------
Cooley Godward LLP and Kronish Lieb Weiner & Hellman LLP begin
operating as one firm, on Oct. 2, 2006, under the name Cooley
Godward Kronish LLP.  The combination creates a 550-attorney firm
with a high-caliber litigation practice and extensive corporate,
tax and bankruptcy capabilities.  Effective Oct. 1, 2006, the
merger significantly expands the firm's national presence.  A
leading legal publication called the transaction, after it was
announced in August, "one of the most significant U.S. mergers in
recent years."

Cooley Godward Kronish's combined 250-lawyer litigation practice
includes nationally known trial lawyers and more than 10 former
federal prosecutors and offers clients deep experience and
expertise representing major corporations, boards and individuals
in high-profile complex commercial, white collar crime, securities
fraud and intellectual property cases.  In addition, the firm has
a preeminent national business practice in venture capital,
emerging and public companies, corporate finance, life sciences,
technology transactions and mergers and acquisitions, with long-
standing ties on the West Coast and in New York.  The combination
also creates a firm, which offers clients the nation's foremost
bankruptcy and restructuring representation and transactional tax
and tax controversy services, as well as a substantial real estate
transactional and land use practice.

"The reaction to the merger announcement has been overwhelmingly
positive both internally and externally as the value and benefits
of the combination for clients, attorneys and staff were quickly
realized," said Stephen C. Neal, Cooley Godward Kronish's chairman
and chief executive officer.  "Integration is progressing rapidly
and smoothly. Since the announcement, we have begun to realize
many of the benefits we hoped to achieve, particularly in the form
of new client matters and business development opportunities.  We
are very excited about the future of the combined firm."

Executive committee member Alan Levine, who heads the combined
firm's New York office, said, "There is so much excitement among
the partnership at both firms that we are already off to a running
start.  We are extremely pleased with how the integration is
progressing, and our clients are interested in learning more about
the combined firm's capabilities."

The combined firm also unveiled a new logo, which can be seen at
http://www.cooley.com/

                About Cooley Godward Kronish LLP

Cooley Godward Kronish's 550 attorneys have an entrepreneurial
spirit and deep, substantive experience and are committed to
solving clients' most challenging legal matters.  From small
companies with big ideas to international enterprises with diverse
legal needs, Cooley Godward Kronish has the breadth of legal
resources to enable companies of all sizes to seize opportunities
in today's global marketplace.  The firm represents clients across
a broad array of dynamic industry sectors, including technology,
life sciences, financial services, retail and energy.

The firm has full-service offices in major commercial, government
and technology centers: Palo Alto, CA, New York, NY, San Diego,
CA, San Francisco, CA, Reston, VA, Broomfield, CO and Washington,
DC.


* Robert Caruso Joins A&M as Managing Director in Chicago
---------------------------------------------------------
Alvarez & Marsal reported that Robert M. Caruso joined the Chicago
office as a managing director.  Mr. Caruso joins in the firm's
central region.

"Bob is one of the best and brightest advisors in the
restructuring industry," said Jeffery Stegenga, head of A&M's
central region restructuring practice.  "His expertise,
longstanding relationships and broad knowledge of manufacturing
and automotive issues will be invaluable as we continue to meet
the needs of organizations looking to improve operational and
financial performance and navigate challenging periods of change."

Bringing nearly two decades of experience across a range of
industries including automotive and manufacturing, Mr. Caruso
specializes in advising management teams, boards, lenders and
other stakeholders of companies engaged in financial
restructurings or performance improvement situations.  His
background includes advising on restructuring strategies; business
plans and related financial projections; cost cutting and revenue
enhancement strategies; liquidity management; sizing, structuring
and raising DIP and other financing; preparing and operating
companies through a Chapter 11 process; supplier management; and
asset dispositions and wind-downs.

Before joining A&M, Mr. Caruso was a senior managing director with
the corporate finance practice of FTI Consulting in Chicago.
Before that, he was a partner with PricewaterhouseCoopers LLP, and
a managing director with the corporate recovery services practice
of KPMG.

Mr. Caruso holds a bachelor's degree in accountancy from the
University of Illinois at Urbana, is a certified public accountant
in the State of Illinois, and a certified insolvency and
reorganization advisor, a member of the AICPA, Illinois CPA
Society, the Turnaround Management Association and the American
Bankruptcy Institute.

                      About Alvarez & Marsal

Alvarez & Marsal is a leading global professional services firm
with expertise in guiding underperforming companies and public
sector entities through complex operational, financial and
organizational challenges.  The firm excels in problem solving and
value creation, and brings a bias toward executing solutions with
a distinctive hands-on approach to serving clients, management and
stakeholders.

Founded in 1983, Alvarez & Marsal draws on its strong operational
heritage to provide specialized services, including Turnaround and
Management Advisory, Crisis and Interim Management, Performance
Improvement, Creditor Advisory Services, Corporate Finance,
Dispute Analysis and Forensics, Tax Advisory, Business Consulting,
Real Estate Advisory and Transaction Advisory.  A network of
experienced professionals in locations across the U.S., Europe,
Asia and Latin America, enables the firm to deliver on its proven
reputation for leadership, problem solving and value creation.


* Senate OKs Legislation Shielding Tithing from Bankruptcy
----------------------------------------------------------
The United States Senate has unanimously approved Sen. Orrin G.
Hatch's bill to protect an individual's right to continue
reasonable charitable contributions, including religious tithing,
during the course of a consumer bankruptcy.

Co-sponsored by Sen. Barack Obama, the measure responds to a
recent court ruling that above-medium income debtors in Chapter 13
cannot deduct charitable contributions from their payment plans.
The August ruling by a New York bankruptcy court sidelined the
clear Congressional intent behind the Religious Liberties and
Charitable Donation Protection Act of 1998 and the Bankruptcy
Abuse Prevention and Consumer Protection Act of 2005.

Sen. Hatch was a cosponsor of both laws, and the Hatch-Obama bill
ensures that future courts allow individuals to uphold their
religious obligations.

"As a whole, last year's bankruptcy reform was - and still is - a
good law," Sen. Hatch said.  "However, like many large bills, it
was not perfect.  As an architect of some of those reforms, I can
say that Congress intended to preserve an individual's religious
freedom to tithe.  I believe that Sen. Obama and I have put
together a narrowly tailored bill that clarifies the law."


* Upcoming Meetings, Conferences and Seminars
---------------------------------------------
October 5, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Breakfast Meeting Featuring a Panel Discussion on
      Hyper-Liquidity in the Marketplace
         Junior League, Houston, TX
            Contact: http://www.turnaround.org/

October 5, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Commercial Lenders Breakfast
         Sydney, Australia
            Contact: 0438 653 179 or http://www.turnaround.org/

October 5, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Panel & Breakfast Meeting: Financial Fraud
         Center Club, Baltimore, MD
            Contact: http://www.turnaround.org/

October 5, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Negotiations Workshop
         Standard Club, Chicago, IL
            Contact: http://www.turnaround.org/

October 6, 2006
   AMERICAN BANKRUPTCY INSTITUTE
      Bankruptcy 2006: Views from the Bench
         Georgetown University Law Center, Washington, DC
            Contact: 1-703-739-0800; http;//www.abiworld.org/

October 10, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Breakfast Meeting
         Center Club, Baltimore, Maryland
            Contact: 703-912-3309 or http://www.turnaround.org/

October 11, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Professional Development Meeting
         Sydney, Australia
            Contact: 0438 653 179 or http://www.turnaround.org/

October 11-14, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      2006 Annual Conference
         Milleridge Cottage, Long Island, New York
            Contact: 312-578-6900; http://www.turnaround.org/

October 12, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      UTS Fundamentals of Turnaround Management
         Melbourne, Australia
            Contact: 0438 653 179 or http://www.turnaround.org/

October 12, 2006
   NEW YORK SOCIETY OF SECURITY ANALYSTS
      Alternative Analysts' Forum:
      An Insider's Perspective on Distressed Debt Investing
         New York, NY
            Contact: http://www.nyssa.org/

October 12, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      UTS Fundamentals of Turnaround Management
         Mecure Hotel - Haymarket, Sydney, Australia
            Contact: http://www.turnaround.org/

October 19, 2006
   BEARD AUDIO CONFERENCES
      Surviving the Digital Deluge:
      Best Practices in E-Discovery and Records
      Management for Bankruptcy Practitioners and Litigators
            Contact: http://www.beardaudioconferences.com
                     240-629-3300

October 25, 2006
   BEARD AUDIO CONFERENCES
      Deepening Insolvency - Widening Controversy:
      Current Risks, Latest Decisions
      Review Risks, Examine Latest Decisions Affecting
      Directors, Advisors and Lenders of Troubled Companies
      Management for Bankruptcy Practitioners and Litigators
            Contact: http://www.beardaudioconferences.com
                     240-629-3300

October 16, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Luncheon Presentation with
      guest speaker Jeff Carhart of Miller Thomson
         Petroleum Club, Edmonton, AB
            Contact: http://www.turnaround.org/

October 16, 2006
   AMERICAN BANKRUPTCY INSTITUTE
      A Year After BAPCPA
         Georgetown University Law Center, Washington, DC
            Contact: 1-703-739-0800; http://www.abiworld.org/

October 17, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Updates on the New Bankruptcy Law
         Kansas City, Missouri
            Contact: http://www.turnaround.org/

October 18-19, 2006
   EUROMONEY
      2nd Annual Latin America Syndicated Loans Conference
         JW Marriott Hotel, Miami, FL
            Contact: http://www.euromoneyplc.com/

October 18, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Dinner Meeting
         Washington Athletic Club, Seattle, WA
            Contact: http://www.turnaround.org/

October 19, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA of Nevada's 1st Breakfast Meeting
         The A,B,C's of Valuing and Selling a Business
            Palace Station, Las Vegas, NV
               Contact: http://www.turnaround.org/

October 19, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Navigating the Potholes and Speed Bumps on Today's
      Economic Highway
         Waller Lansden Dortch & Davis
            Nashville, TN
               Contact: http://www.turnaround.org/

October 19, 2006
   BEARD AUDIO CONFERENCES
      Surviving the Digital Deluge:
         Best Practices in e-Discovery and Records Management
         for Bankruptcy Practitioners and Litigators
            Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

October 19, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Billards Networking Night - Young Professionals
         TBA, New Jersey
            Contact: 908-575-7333 or http://www.turnaround.org/

October 21, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Applying Lean Methodology to Manage
      Operational Turnarounds
         Oxford Hotel, Denver, CO
            Contact: http://www.turnaround.org/

October 23, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Annual Meeting and Networking Reception
      100th Bomb Group & Banquet Facility
         Cleveland, OH
            Contact: http://www.turnaround.org/

October 23, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      A View from the Bench: A Panel Discussion
      Recent Developments in Bankruptcy
         Sheraton at Four Seasons, Greensboro, NC
            Contact: http://www.turnaround.org/

October 25, 2006
   BEARD AUDIO CONFERECES
      Deepening Insolvency - Widening Controversy: Current Risks,
      Latest Decisions, Review Risks, Examine Latest Decisions
      Affecting Directors, Advisors and Lenders of Troubled
      Companies
            Contact: http://www.beardaudioconferences.com/
                     240-629-3300

October 26, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Breakfast Event "The Latest in Fraud Investigations"
      with guest speaker Chad Cretney of
      PricewaterhouseCoopers
      Ernst & Young Tower
         Calgary, AB
            Contact: http://www.turnaround.org/

October 26, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Hedge Funds - Expanded Financing Opportunities in Business
      Turnarounds
         Arizona
            Contact: http://www.turnaround.org/

October 26, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Breakfast Speaker Series #3
         TBA, Calgary, Alberta
            Contact: 403-294-4954 or http://www.turnaround.org/

October 26, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Breakfast Speaker Series #3
         TBA, Calgary, Alberta
            Contact: 403-294-4954 or http://www.turnaround.org/

October 27, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Breakfast with Coach Dan Reeves
         Westin Buckhead, Atlanta, GA
            Contact: 678-795-8103 or http://www.turnaround.org/

October 28, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      BK/TMA Golf Tournament
         Orange Tree Golf Resort, AZ
            Contact: 623-581-3597 or http://www.turnaround.org/

October 30-31, 2006
   Distressed Debt Summit: Preparing for the Next Default Cycle
      Financial Research Associates LLC
         Helmsley Hotel, New York, NY
            Contact: http://www.frallc.com/

October 31, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Luncheon
         Citrus Club, Orlando, Florida
            Contact: 561-882-1331 or http://www.turnaround.org/

October 31 - November 1, 2006
   INTERNATIONAL WOMEN'S INSOLVENCY & RESTRUCTURING CONFEDERATION
      IWIRC Annual Conference
         San Francisco, California
            Contact: http://www.iwirc.com/

November 1, 2006
   ASSOCIATION OF INSOLVENCY & RESTRUCTURING ADVISORS
      AIRA/NCBJ Dessert Reception
         Marriott, San Francisco, CA
            Contact: 415-896-1600 or http://www.airacira.org/

November 1, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Halloween Isn't Over! - Ghosts of turnarounds past who
         remind you about what you should have done differently
            Portland, Oregon
               Contact: http://www.turnaround.org/

November 1-4, 2006
   NATIONAL CONFERENCE OF BANKRUPTCY JUDGES
      National Conference of Bankruptcy Judges
         San Francisco, California
            Contact: http://www.ncbj.org/

November 2, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA UK Annual Conference
         Millennium Gloucester Hotel, London, UK
            Contact: http://www.turnaround.org/

November 2-3, 2006
   BEARD GROUP & RENAISSANCE AMERICAN CONFERENCES
      Third Annual Conference on Physician Agreements & Ventures
      Successful Strategies for Medical Transactions and
      Investments
         The Millennium Knickerbocker Hotel - Chicago
            Contact: 903-595-3800; 1-800-726-2524;
            http://www.renaissanceamerican.com/

November 3, 2006
   ASSOCIATION OF INSOLVENCY & RESTRUCTURING ADVISORS
      AIRA/NCBJ Breakfast Program
         Marriott, San Francisco, CA
            Contact: 415-896-1600 or http://www.airacira.org/

November 7, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Networking Breakfast
         Marriott, Bridgewater, New Jersey
            Contact: 908-575-7333 or http://www.turnaround.org/

November 7-8, 2006
   EUROMONEY
      5th Annual Distressed Debt Investment Symposium
         Hyatt Regency, London, UK
            Contact: http://www.euromoneyplc.com/

November 8, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Luncheon & Guest Speaker, Joel Naroff to
      discuss the economy, lending and M&A markets
         Davio's Northern Italian Steakhouse, Philadelphia, PA
            Contact: http://www.turnaround.org/

November 8, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Breakfast Meeting
         Marriott Tyson's Corner, Vienna, Virginia
            Contact: 703-912-3309 or http://www.turnaround.org/

November 8, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Australia National Conference
         Sydney, Australia
            Contact: http://www.turnaround.org/

November 9, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Webinar "Second Lien Financing or Investing: Are
      There Opportunities for You?"
         TMA HQ, Chicago, IL
            Contact: http://www.turnaround.org/

November 14, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Luncheon Program
         St. Louis, Missouri
            Contact: 815-469-2935 or http://www.turnaround.org/

November 14, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Luncheon Program - Cost Containment Strategies
         St. Louis, MO
            Contact: http://www.turnaround.org/

November 14, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Holiday Cocktail Reception Honoring the
      Bankruptcy Benches of the Southern &
      Eastern Districts of New York and New Jersey
      Association of the Bar of the City of New York
         New York, NY
            Contact: http://www.turnaround.org/

November 15, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Joint Reception with NYIC/NYTMA
         TBA, New York
            Contact: 908-575-7333 or http://www.turnaround.org/

November 15, 2006
   LI TMA Formal Event
      TMA Australia National Conference
         Long Island, New York
            Contact: http://www.turnaround.org/

November 15, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      South Florida Dinner
         Citrus Club, Orlando, Florida
            Contact: 561-882-1331 or http://www.turnaround.org/

November 15-16, 2006
   EUROMONEY INSTITUTIONAL INVESTOR
      Asia Capital Markets Forum
         Island Shangri-La, Hong Kong
            Contact: http://www.euromoneyplc.com/

November 16, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Bankruptcy Judges Panel
         Duquesne Club, Pittsburgh, Pennsylvania
            Contact: http://www.turnaround.org/

November 16, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Dinner Program
         TBA, Seattle, Washington
            Contact: 503-223-6222 or http://www.turnaround.org/

November 16, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Dinner Program
         TBA, Seattle, WA
            Contact: 403-294-4954 or http://www.turnaround.org/

November 16, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Life in the Bankruptcy Court with BAPCPA,
      A View from The Bench
         Oxford Hotel, Denver, CO
            Contact: http://www.turnaround.org/

November 16-17, 2006
   STRATEGIC RESEARCH INSTITUTE
      8th Annual West Distressed Debt Investing Forum
         Venetian Resort Hotel Casino, Las Vegas, NV
            Contact: http://www.srinstitute.com

November 17, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Breakfast with Harry Nolan, Author of
         Airline without a Pilot - Lessons in Leadership
         Westin Buckhead, Atlanta, GA
            Contact: http://www.turnaround.org/

November 23, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Martini Party
         Vancouver, British Columbia
            Contact: 403-294-4954 or http://www.turnaround.org/

November 23-24, 2006
   EUROMONEY CONFERENCES
      5th Annual China Conference
         China World Hotel
         Beijing, China
            Contact: http://www.euromoneyconferences.com/

November 27-28, 2006
   BEARD GROUP & RENAISSANCE AMERICAN CONFERENCES
      Thirteenth Annual Conference on Distressed Investing
      Maximizing Profits in the Distressed Debt Market
         The Essex House Hotel - New York
            Contact: 903-595-3800; 1-800-726-2524;
            http://www.renaissanceamerican.com/

November 28, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Luncheon
         Centre Club, Tampa, FL
            Contact: 561-882-1331 or http://www.turnaround.org/

November 28, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Joint TMA Florida/ACG Tampa Bay Luncheon
      Buying and Selling a Troubled Company
         Centre Club, Tampa, FL
            Contact: http://www.turnaround.org/

November 29, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Special Program
         TBA, New Jersey
            Contact: 908-575-7333 or http://www.turnaround.org/

November 29, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Turnaround Industry Trends
         Jasna Polana, Princeton, NJ
            Contact: http://www.turnaround.org/

November 30, 2006
   EUROMONEY CONFERENCES
      Euromoney/DIFC Annual Conference
      Managing superabundant liquidity
         Madinat Jumeirah, Dubai
            Contact: http://www.euromoneyconferences.com/

November 30-December 2, 2006
   AMERICAN BANKRUPTCY INSTITUTE
      Winter Leadership Conference
         Hyatt Regency at Gainey Ranch, Scottsdale, Arizona
            Contact: 1-703-739-0800; http://www.abiworld.org/

December 5, 2006
   EUROMONEY CONFERENCES
      CFO Forum
         Hyatt Regency, Hangzhou, China
            Contact: http://www.euromoneyconferences.com/

December 6, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Holiday Dinner
         Portland, Oregon
            Contact: 503-223-6222 or http://www.turnaround.org/

December 7, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Networking Breakfast
         The Newark Club, Newark, New Jersey
            Contact: 908-575-7333 or http://www.turnaround.org/

December 7, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Cash Management After The Storm:
      Near-Term Planning for Long-Term Business Success
         Sheraton, Metairie, LA
            Contact: http://www.turnaround.org/

December 13, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      LI TMA Holiday Party
         TBA, Long Island, New York
            Contact: 631-251-6296 or http://www.turnaround.org/

December 13, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Christmas Function
         GE Commercial Finance, Sydney, Australia
            Contact: 0438 653 179 or http://www.turnaround.org/

December 20, 2006
   TURNAROUND MANAGEMENT ASSOCIATION
      Holiday Extravaganza - TMA, AVF & CFA
         Georgia Aquarium, Atlanta, GA
            Contact: 678-795-8103 or http://www.turnaround.org/

January 11, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Lender's Panel
         University Club, Jacksonville, FL
            Contact: http://www.turnaround.org/

January 12, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Annual Lender's Panel Breakfast
         Westin Buckhead, Atlanta, GA
            Contact: http://www.turnaround.org/

January 17, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      South Florida Dinner
         TBA, South FL
            Contact: 561-882-1331 or http://www.turnaround.org/

January 17-19, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Distressed Investing Conference
         Wynn, Las Vegas, NV
            Contact: http://www.turnaround.org/

February 8-11, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Certified Turnaround Professional (CTP) Training
         NY/NJ
            Contact: http://www.turnaround.org/

February 22, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA PowerPlay - Atlanta Thrashers
         Philips Arena, Atlanta, GA
            Contact: 678-795-8103 or http://www.turnaround.org/

January 25-27, 2007
   AMERICAN BANKRUPTCY INSTITUTE
      Rocky Mountain Bankruptcy Conference
         Hyatt Regency, Denver, CO
            Contact: 1-703-739-0800; http://www.abiworld.org/

February 25-26, 2007
   NORTON INSTITUTES
      Norton Bankruptcy Litigation Institute
         Marriott Park City, UT
            Contact: http://www2.nortoninstitutes.org/

February 2007
   AMERICAN BANKRUPTCY INSTITUTE
      International Insolvency Symposium
         San Juan, Puerto Rico
            Contact: 1-703-739-0800; http://www.abiworld.org/

March 15, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Martini Madness Cocktail Reception with Geraldine Ferraro
         Westin Buckhead, Atlanta, GA
            Contact: 678-795-8103 or http://www.turnaround.org/

March 15-18, 2007
   NATIONAL ASSOCIATION OF BANKRUTPCY TRUSTEES
      NABT Spring Seminar
         Ritz-Carlton Buckhead, Atlanta, GA
            Contact: http://www.NABT.com/

March 21, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      South Florida Dinner
         TBA, South FL
            Contact: 561-882-1331 or http://www.turnaround.org/

March 27-31, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Spring Conference
         Four Seasons Las Colinas, Dallas, Texas
            Contact: http://www.turnaround.org/

March 29-31, 2007
   ALI-ABA
      Chapter 11 Business Reorganizations
         Scottsdale, Arizona
            Contact: 1-800-CLE-NEWS; http://www.ali-aba.org/

April 11-15, 2007
   AMERICAN BANKRUPTCY INSTITUTE
      ABI Annual Spring Meeting
         J.W. Marriott, Washington, DC
            Contact: 1-703-739-0800; http://www.abiworld.org/

April 12, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Luncheon
         University Club, Jacksonville, FL
            Contact: 561-882-1331 or http://www.turnaround.org/

April 20, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Breakfast meeting with Chapter President, Bruce Sim
         Westin Buckhead, Atlanta, GA
            Contact: 678-795-8103 or http://www.turnaround.org/

April 29 - May 1, 2007
   INTERNATIONAL BAR ASSOCIATION
      International Insolvency Conference
      Zurich, Switzerland
            Contact: http://www.ibanet.org/

May 14, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Annual TMA Atlanta Golf Outing
         White Columns, Atlanta, GA
            Contact: 678-795-8103 or http://www.turnaround.org/

May 16, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      South Florida Dinner
         TBA, South FL
            Contact: 561-882-1331 or http://www.turnaround.org/

June 6-9, 2007
   ASSOCIATION OF INSOLVENCY & RESTRUCTURING ADVISORS
      23rd Annual Bankruptcy & Restructuring Conference
         Westin River North, Chicago, Illinois
            Contact: http://www.airacira.org/

June 14-17, 2007
   AMERICAN BANKRUPTCY INSTITUTE
      Central States Bankruptcy Workshop
         Grand Traverse Resort, Traverse City, Michigan
            Contact: 1-703-739-0800; http://www.abiworld.org/

June 28 - July 1, 2007
   NORTON INSTITUTES
      Norton Bankruptcy Litigation Institute
         Jackson Lake Lodge, Jackson Hole, WY
            Contact: http://www2.nortoninstitutes.org/

July 12, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Luncheon
         University Club, Jacksonville, FL
            Contact: 561-882-1331 or www.turnaround.org

July 12-15, 2007
   AMERICAN BANKRUPTCY INSTITUTE
      Northeast Bankruptcy Conference
         Marriott, Newport, RI
            Contact: 1-703-739-0800; http://www.abiworld.org/

July 18, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      South Florida Dinner
         TBA, South FL
            Contact: 561-882-1331 or http://www.turnaround.org/

September 19, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      South Florida Dinner
         TBA, South FL
            Contact: 561-882-1331 or http://www.turnaround.org/

October 10-13, 2007
   NATIONAL CONFERENCE OF BANKRUPTCY JUDGES
      National Conference of Bankruptcy Judges
         Orlando, Florida
            Contact: http://www.ncbj.org/

October 11, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Luncheon
         University Club, Jacksonville, FL
            Contact: 561-882-1331 or http://www.turnaround.org/

October 16-19, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Annual Convention
         Marriott Copley Place, Boston, Massachusetts
            Contact: 312-578-6900; http://www.turnaround.org/

December 6-8, 2007
   AMERICAN BANKRUPTCY INSTITUTE
      Winter Leadership Conference
         Westin Mission Hills Resort, Rancho Mirage, California
            Contact: 1-703-739-0800; http://www.abiworld.org/

December 19, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      South Florida Dinner
         TBA, South FL
            Contact: 561-882-1331 or http://www.turnaround.org/

January 10, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Luncheon
         University Club, Jacksonville, FL

March 25-29, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Spring Conference
         Ritz Carlton Grande Lakes, Orlando, Florida
            Contact: http://www.turnaround.org/

June 4-7, 2008
   ASSOCIATION OF INSOLVENCY & RESTRUCTURING ADVISORS
      24th Annual Bankruptcy & Restructuring Conference
         JW Marriott Spa and Resort, Las Vegas, NV
            Contact: http://www.airacira.org/

September 24-27, 2008
   NATIONAL CONFERENCE OF BANKRUPTCY JUDGES
      National Conference of Bankruptcy Judges
         Scottsdale, Arizona
            Contact: http://www.ncbj.org/

October 28-31, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Annual Convention
         Marriott Copley Place, Boston, Massachusetts
            Contact: 312-578-6900; http://www.turnaround.org/

October 5-9, 2009
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Annual Convention
         Marriott Desert Ridge, Phoenix, Arizona
            Contact: 312-578-6900; http://www.turnaround.org/

2009 (TBA)
   NATIONAL CONFERENCE OF BANKRUPTCY JUDGES
      National Conference of Bankruptcy Judges
         Las Vegas, Nevada
            Contact: http://www.ncbj.org/

October 4-8, 2010
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Annual Convention
         JW Marriott Grande Lakes, Orlando, Florida
            Contact: http://www.turnaround.org/

2010 (TBA)
   NATIONAL CONFERENCE OF BANKRUPTCY JUDGES
      National Conference of Bankruptcy Judges
         New Orleans, Louisiana
            Contact: http://www.ncbj.org/

   BEARD AUDIO CONFERENCES
      Coming Changes in Small Business Bankruptcy
         Audio Conference Recording
            Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

   BEARD AUDIO CONFERENCES
      Distressed Real Estate under BAPCPA
         Audio Conference Recording
            Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

   BEARD AUDIO CONFERENCES
      High-Yield Opportunities in Distressed Investing
         Audio Conference Recording
            Contact: 240-629-3300;
          http://www.beardaudioconferences.com/

   BEARD AUDIO CONFERENCES
      Fundamentals of Corporate Bankruptcy and Restructuring
         Audio Conference Recording
            Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

   BEARD AUDIO CONFERENCES
      Reverse Mergers - the New IPO?
         Audio Conference Recording
            Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

   BEARD AUDIO CONFERENCES
      Dana's Chapter 11 Filing
         Audio Conference Recording
            Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

   BEARD AUDIO CONFERENCES
      Employee Benefits and Executive Compensation
      under the New Code
         Audio Conference Recording
            Contact: 240-629-3300;
            http://www.beardaudioconferences.com/


   BEARD AUDIO CONFERENCES
      Validating Distressed Security Portfolios: Year-End Price
      Validation and Risk Assessment
         Audio Conference Recording
            Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

   BEARD AUDIO CONFERENCES
      Changing Roles & Responsibilities of Creditors' Committees
      Audio Conference Recording
         Contact: 240-629-3300;
         http://www.beardaudioconferences.com/

   BEARD AUDIO CONFERENCES
      Calpine's Chapter 11 Filing
         Audio Conference Recording
            Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

   BEARD AUDIO CONFERENCES
      Healthcare Bankruptcy Reforms
         Audio Conference Recording
            Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

   BEARD AUDIO CONFERENCES
      Changes to Cross-Border Insolvencies
         Audio Conference Recording
            Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

   BEARD AUDIO CONFERENCES
      The Emerging Role of Corporate Compliance Panels
         Audio Conference Recording
            Contact: 240-629-3300;
            http://www.beardaudioconferences.com

   BEARD AUDIO CONFERENCES
      Privacy Rights, Protections & Pitfalls in Bankruptcy
         Audio Conference Recording
            Contact: 240-629-3300;
            http://www.beardaudioconferences.com

   BEARD AUDIO CONFERENCES
      High-Yield Opportunities in Distressed Investing
         Audio Conference Recording
            Contact: 240-629-3300;
            http://www.beardaudioconferences.com

The Meetings, Conferences and Seminars column appears in the
Troubled Company Reporter each Wednesday. Submissions via e-mail
to conferences@bankrupt.com are encouraged.

                             *********

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/

On Thursdays, the TCR delivers a list of recently filed chapter 11
cases involving less than $1,000,000 in assets and liabilities
delivered to nation's bankruptcy courts.  The list includes links
to freely downloadable images of these small-dollar petitions in
Acrobat PDF format.

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.

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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.  Marie Therese V. Profetana, Robert Max Victor M. Quiblat II,
Shimero R. Jainga, Joel Anthony G. Lopez, Melvin C. Tabao, Rizande
B. Delos Santos, Cherry A. Soriano-Baaclo, Christian Q. Salta,
Jason A. Nieva, Lucilo M. Pinili, Jr., Tara Marie A. Martin, and
Peter A. Chapman, Editors.

Copyright 2006.  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 $725 for 6 months delivered via e-
mail. Additional e-mail subscriptions for members of the same firm
for the term of the initial subscription or balance thereof are
$25 each.  For subscription information, contact Christopher Beard
at 240/629-3300.

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