/raid1/www/Hosts/bankrupt/TCR_Public/070221.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, February 21, 2007, Vol. 11, No. 44

                             Headlines

ACURA PHARMA: Completes Draw Down Bridge Funding Commitment
ADVANCED MARKETING: Answers Objections to Houlihan Lokey Retention
ADVANCED MULTI: Case Summary & 20 Largest Unsecured Creditors
AIR AMERICA: Sells All Assets to Stephen Green for $4.28 Million
ALLIED HOLDINGS: Can Renew Canada Insurance Policies with AIG

ALLIED HOLDINGS: Can Enter Into Nat'l Union Insurance Renewal Pact
AMERICAN AXLE: Weak Performance Prompts DBRS' Ratings Downgrade
AMERICAN CREDIT: Creditors Vote to Accept Chapter 11 Plan
AMERICAN TOWER: Earns $27.5 Million in Quarter Ended December 31
AMERICAN TOWER: Board Approves $1.5 Billion Stock Repurchase Plan

AMERISOURCEBERGEN CORP: Stockholders Re-Elect Three Directors
ARMSTRONG WOLRD: In Talks with NPM Capital on Likely Desseaux Sale
CASTLE ROCK: Case Summary & 17 Largest Unsecured Creditors
CATHOLIC CHURCH: Portland Wants Allied Commitment Letter Performed
CATHOLIC CHURCH: Parties Respond on Portland Estimation Protocol

CENTRE POINT: Case Summary & Five Largest Unsecured Creditors
CHARLES RIDGE: Case Summary & 20 Largest Unsecured Creditors
CHARLOTTE GROUP: Voluntary Chapter 11 Case Summary
CYBERONICS INC: Has $5.2 Mil. Stockholders' Deficit at October 27
DAVITA INC: Inks Amended Employment Agreement with Thomas Usilton

DELPHI CORP: Signs Non-Binding Term Sheet with Renco Group
DIGICEL LTD: Add-on & Leverage Prompts Moody's Ratings Downgrade
EMERGE INTERACTIVE: Bankruptcy Filing Prompts Nasdaq Delisting
ESTERLINE TECH: Commences $150 Million Senior Notes Offering
FARMERS' MUTUAL: A.M. Best Says Financial Strength is Fair

FF STATION: Case Summary & Nine Largest Unsecured Creditors
FORD MOTOR: Expects to Miss February & March "Way Forward" Target
FOUR B: Case Summary & 20 Largest Unsecured Creditors
FRAZIER DEVELOPMENT: Voluntary Chapter 11 Case Summary
FRENCH VALLEY: Case Summary & Eight Largest Unsecured Creditors

GOLF TRUST: Names Principal Accounting Officer After CFO Resigns
GREENMAN TECH: To Hold Annual Stockholders' Meeting on March 29
HOLLY MARINE: Court Approves Bauch & Michaels as Counsel
HOLLY MARINE: Gets Initial Approval to Use Cash Collateral
HUDSON HIGHLAND: Gets New Leaders for Australia/New Zealand Branch

I2 TECHNOLOGIES: Dec. 31 Balance Sheet Upside Down by $25 Million
IMAX CORPORATION: Inks Amended Employment Agreements with Co-CEOs
INDIAN NATION: Case Summary & 20 Largest Unsecured Creditors
ION MEDIA: Has Enough Liquidity; Chapter 11 Not Possible
JAMES WHITE: Case Summary & 19 Largest Unsecured Creditors

KNOLOGY INC: Taps Credit Suisse to Syndicate Loan for Buyout Plan
LAMINATE STORE: Case Summary & 20 Largest Unsecured Creditors
LEVI STRAUSS: Earns $239 million in Fiscal Year Ended November 26
MARK STEINMETZ: Case Summary & 13 Largest Unsecured Creditors
MILLIPORE CORP: Earns $97 Million in Year Ended December 31, 2006

MIRANT CORP: Mirant NY-Gen Files Chapter 11 Plan of Reorganization
MIRANT CORP: Excluded Debtors File Amended Supplemental Plan
MODERN ALUMINUM: Case Summary & 20 Largest Unsecured Creditors
MOHEGAN TRIBAL: Dec. 31 Balance Sheet Upside-Down by $19.5 Million
MOVIE GALLERY: Moody's Affirms Rating and Says Outlook is Positive

PACIFIC LUMBER: Palco and Scopac Want to Settle Intercompany Debts
PACIFIC LUMBER: Panel Wants Bankruptcy Cases Moved to California
PARSONS 4E: Voluntary Chapter 11 Case Summary
PREMIER AT LAKEMONT: Case Summary & 7 Largest Unsecured Creditors
PRS INSURANCE: Confirmation Hearing Scheduled for March 2

RIGHT-WAY DEALER: Case Summary & 20 Largest Unsecured Creditors
RIGHT-WAY DEALER: Section 341(a) Meeting Scheduled Tomorrow
ROUGE INDUSTRIES: Court Extends Removal Period Until April 16
SALLY BEAUTY: Acquires Salon Services Equity for $59 Million
SEA CONTAINERS: Aegis Financial Discloses 9% SeaCon Equity Stake

SEA CONTAINERS: Donald Smith Discloses 6.53% SeaCon Equity Stake
SERACARE LIFE: Court Confirms Amended Joint Plan of Reorganization
SIRIUS SATELLITE: NAB Wants XM Satellite Merger Blocked
SKEEN GOLDMAN: Case Summary & 20 Largest Unsecured Creditors
SPANKY'S FOOD: Case Summary & 20 Largest Unsecured Creditors

STARBAK COMMS: Silicon Valley Bank to Sell Assets at Private Sale
SYMBOLLON: Raises $2.3 Million from Private Placement
THOMASVILLE HONDA: Case Summary & 20 Largest Unsecured Creditors
UNED ASSOCIATES: Failed Property Sale Prompts Chapter 11 Filing
UNED ASSOCIATES: Case Summary & 13 Largest Unsecured Creditors

WES-KAN OIL: Case Summary & 20 Largest Unsecured Creditors
WHISTLER LAGOON: Case Summary & Largest Unsecured Creditor
XM SATELLITE: NAB Wants SIRIUS Satellite Merger Blocked

* All Health Plans Must Report Quality of Care to NCQA
* Kevin McElcheran Joins McCarthy Tetrault's Toronto Office

* Upcoming Meetings, Conferences and Seminars

                             *********

ACURA PHARMA: Completes Draw Down Bridge Funding Commitment
-----------------------------------------------------------
Acura Pharmaceuticals Inc. completed Tuesday the draw down of the
$2.0 million November 2006 bridge funding commitment from Essex
Woodlands Health Ventures V, L.P., Care Capital Investments II,
L.P., Care Capital Offshore Investments II, L.P., Galen Partners
III, L.P., Galen Partners International III, L.P. and Galen
Employee Fund III, L.P.

In November and December 2006 and January 2007, the company had
drawn a total of $1,404,000 against the November Bridge Loan
Commitment.  On February 20, 2007, the remainder of $596,000 under
the November Bridge Loan Commitment was received by the company.  
Advances under the November Bridge Loan Commitment bear interest
at the rate of 10% per annum, are secured by a lien on all assets
of the company and its subsidiary, mature on March 31, 2007, and
are senior to all other company debt.  Including the $596,000
secured on Feb. 20, 2007, the company has a total of $8.7 million
in bridge loans outstanding and due on March 31, 2007.

                          Cash Reserves

The company estimates that its current cash reserves will fund
operations through mid-to-late March 2007.  To continue operating
thereafter, the company must raise additional financing or enter
into appropriate collaboration agreements with third parties
providing for cash payments to the company.  No assurance can be
given that the company will be successful in obtaining any such
financing or in securing collaborative agreements with third
parties on acceptable terms, if at all, or if secured, that such
financing or collaborative agreements will provide for payments to
the company sufficient to continue funding operations.  In the
absence of such financing or third-party collaborative agreements,
the company will be required to scale back or terminate operations
or seek protection under applicable bankruptcy laws.

                    About Acura Pharmaceuticals

Headquartered in Palatine, Illinois, Acura Pharmaceuticals, Inc.
(OTCBB:ACUR) -- http://www.acurapharm.com/-- is a specialty  
pharmaceutical company engaged in research, development and
manufacture of innovative and proprietary abuse deterrent, abuse
resistant and tamper resistant formulations intended for use in
orally administered opioid-containing prescription analgesic
products.  Acura is actively collaborating with contract research
organizations for laboratory and clinical evaluation and testing
of product candidates formulated with its Aversion(R) Technology.

                        Going Concern Doubt

As reported in the Troubled Company Reporter on Aug. 8, 2006,
BDO Seidman LLP expressed substantial doubt about Acura's ability
to continue as a going concern after auditing the company's 2005
financial statements.  The auditing firm pointed to the company's
recurring losses from operations and net capital deficiency at
Dec. 31, 2005.


ADVANCED MARKETING: Answers Objections to Houlihan Lokey Retention   
------------------------------------------------------------------
Advanced Marketing Services Inc. and its debtor-affiliates have
responded to objections raised by the Official Committee of
Unsecured Creditors and Kelly Beaudin Stapleton, the United States
Trustee for Region 3, questioning the appropriateness and the
benefit to the Debtors' estate of the employment of Houlihan Lokey
Howard & Zukin Capital as the Debtors' investment banker, nunc pro
tunc to Dec. 29, 2006.  

Mark D. Collins, Esq., at Richards, Layton & Finger, PA, at
Wilmington, Delaware, tells the Hon. Judge Christopher S. Sontchi
of the United States Bankruptcy Court for the District of Delaware
that if the Debtors' application to employ Houlihan Lokey were
denied, the delay that would ensue would cause significant harm to
the Debtors.

As reported in the Troubled Company Reporter on Feb. 14, 2007, the
Debtors sought to employ Houlihan Lokey to act as their investment
banker because the firm has substantial expertise in advising
them, and is well qualified to perform the services and represent
their interests in the Chapter 11 cases.

Representing the Unsecured Creditors Committee, Thomas F. Driscoll
III, Esq., at Morris, Nichols, Arsht & Tunnell LLP, in Wilmington,
Delaware, objected to the employment of Houlihan Lokey because,
given the high fees being asked by the firm, there would be no
benefit to the estates and creditors to retain them at this time
and that the service for which the firm is to be employed could an
be provided by the Debtors' other professionals.

Kelly Beaudin Stapleton, the United States Trustee for Region 3,
also objected to the firm's professional fees unless and until the
applicant shows that there is a benefit to the estate.  The fees
must be reasonable and necessary, she added.  Ms. Stapleton also
said that Houlihan Lokey should provide hourly rates for its
professionals.

Ms. Stapleton also noted that Houlihan Lokey's monthly fee, if
allowed, should be subject to Section 330 standards, while the
various transaction and financing fees should be disallowed under
the "improvident" standard stated in Section 328 and subject
to Section 330.

                Need for Houlihan Lokey's Services

The Debtors desperately need the services of Houlihan Lokey, Mr.
Collins tells Judge Sontchi.

As investment banker, one of Houlihan Lokey's most critical tasks
is the valuation of the Debtors' assets to determine whether the
greatest value can be achieved through a sale of the assets or
through a liquidation of the estates, Mr. Collins explains.  He
adds that Houlihan Lokey's role is critical and is not duplicative
of the roles performed by other professionals in the Debtors'
Chapter 11 cases.

For its part, Houlihan Lokey points out that the Committee ignores
the substantial work the firm has already performed for the
Debtors, including running the M&A process for the sale of
Advanced Marketing Services Inc., preparing and presenting
financial statements to potential buyers, and advising the Debtors
regarding negotiations with potential buyers.

"On a broader level, the Committee misconstrues the services
provided by Houlihan Lokey by implying that its sole function is
to find potential buyers," Mr. Collins says.  "Significant
further activity would need to be done by Houlihan Lokey even
after a purchaser is identified," he adds.

To address the objections filed by the Committee and the U.S.
Trustee, Mr. Collins contends that the overall compensation
structure for Houlihan Lokey is comparable to compensation
generally charged by investment banking firms of similar stature
to Houlihan Lokey for comparable engagements, both in and out of
court.

The nature of Houlihan Lokey's employment in the Debtors'
bankruptcy cases is especially appropriate for pre-approval under
Section 328(a) of the Bankruptcy Code, Mr. Collins continues.
Accordingly, the Debtors and Houlihan Lokey maintain that the
Court should approve the Debtors' employment application pursuant
to Section 328(a).

Mr. Collins further notes that to demonstrate to the Court that
the Debtors and Houlihan Lokey are willing to compromise, both
parties would make certain revisions to their engagement letter
and the application if the Court approved Houlihan Lokey's
employment pursuant to Section 328(a).

Among other things, Mr. Collins says, the Debtors would revise
their application so that Houlihan Lokey's retention would be
granted, nunc pro tunc to Jan. 17, 2007, instead of the
Dec. 29, 2006 petition date.  Houlihan Lokey, on the other hand,
would modify the terms of the engagement letter as suggested by
the Committee so that the firm would receive a Transaction Fee
during the 12th month "Tail Period," only if an M&A Transaction or
Restructuring Transaction is caused or procured by the firm.

                      About Advanced Marketing

Based in San Diego, California, Advanced Marketing Services, Inc.
-- http://www.advmkt.com/-- provides customized merchandising,   
wholesaling, distribution and publishing services, currently
primarily to the book industry.  The company has operations in the
U.S., Mexico, the United Kingdom and Australia and employs
approximately 1,200 people Worldwide.

The company and its two affiliates, Publishers Group Incorporated
and Publishers Group West Incorporated filed for chapter 11
protection on Dec. 29, 2006 (Bankr. D. Del. Case Nos. 06-11480
through 06-11482).  Suzzanne S. Uhland, Esq., Austin K. Barron,
Esq., Alexandra B. Feldman, Esq., O'Melveny & Myers, LLP,
represent the Debtors as Lead Counsel.  Chun I. Jang, Esq., Mark
D. Collins, Esq., and Paul Noble Heath, Esq., at Richards, Layton
& Finger, P.A., represent the Debtors as Local Counsel.  When the
Debtors filed for protection from their creditors, they listed
estimated assets and debts of more than $100 million.  (Advanced
Marketing Bankruptcy News, Issue No. 6; Bankruptcy Creditors'
Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000)

The Debtors' exclusive period to file a chapter 11 plan expires on
Apr. 28, 2007.


ADVANCED MULTI: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Advanced Multi Product Group Inc.
        4120 Luella Lane
        Auburn Hills, MI 48326

Bankruptcy Case No.: 07-41267

Type of Business: The Debtor manufactures plastic & metal
                  parts for motor vehicles.

Chapter 11 Petition Date: January 22, 2007

Court: Eastern District of Michigan (Detroit)

Judge: Thomas J. Tucker

Debtor's Counsel: Arnold S. Schafer, Esq.
                  Jason W. Bank, Esq.
                  Leon N. Mayer, Esq.
                  Michael E. Baum, Esq.
                  Schafer and Weiner, PLLC
                  40950 Woodward Avenue, Suite 100
                  Bloomfield Hills, MI 48304
                  Tel: (248) 540-3340
                  Fax: (248) 642-2127

Debtor's
Financial
Advisor:          Franklin Advisors

Total Assets: $27,482,516

Total Debts:  $14,915,282

Debtor's 20 Largest Unsecured Creditors:

   Entity                                 Claim Amount
   ------                                 ------------
   Luella Lane Associates                     $253,199
   18530 Mack Avenue, Suite 256
   Grosse Pointe, MI 48236

   Continential Tire North America, Inc.      $236,906
   1800 Continental Boulevard
   Charlotte, NC 28273

   Aerotek Commercial Staffing                $169,377
   7301 Parkway Drive
   Hanover, MD 21076

   Pier Group Packaging                       $138,734
   1099 Fairways Blvd
   Troy, MI 48085-6100

   Lear Corporation                           $127,059
   21557 Telegraph Road
   Southfield, MI 48086

   DTE                                        $107,104
   2000 Second Avenue
   Detroit, MI 482261279

   Farmingtons Group                           $86,000
   Raiffeisenstrasse 3436
   DE49124
   Georgesmarienhutt, Germany

   Apollo EDM                                  $77,057
   16601 Thirteen Mile Road
   Fraser, MI 48026

   Technology Investment Partners              $69,612
   6301 Paysphere Circle
   Chicago, IL 60674

   International Mechanical Design, Inc.       $66,130
   2015 Bellaire
   Royal Oak, MI 48067

   Thunder Bay Manufacturing                   $62,662
   615 Mckinley Street
   P.O. Box 366
   Alpena, MI 49707

   Cardelli Lanfear & Buikema P.C.             $62,254
   322 W. Lincoln
   Royal Oak, MI 48067

   Blue Cross Blue Shield of Michigan          $57,870
   27000 West 11 Mile Road
   Southfield, MI 48034

   Copper & Brass Sales                        $55,091
   22355 W. 11 Mile Road
   Southfield, MI 48034

   Novelis Specialty Products                  $52,275
   28970 Cabot Drive
   Novi, MI 48377

   Cornerstone Technology Inc.                 $50,480
   880 North Service Road E., Unit 103
   Windsor, Ontario N8X 3J5

   Cinncinnati Insurance                       $50,000
   6200 S. Gilmore
   Fairfield, OH 45014

   i3 Design Group                             $40,760
   5270 Northland Drive, NE
   Grand Rapids, MI 49525

   Superior Design and Engineering Inc.        $40,580
   35435 Stanley
   Sterling Heights, MI 48312

   Lee Contracting Inc.                        $36,954
   631 Oakland Avenue, Suite 110
   Pontiac, MI 48342


AIR AMERICA: Sells All Assets to Stephen Green for $4.28 Million
----------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
has approved the sale of Air America Radio to an investment group
led by Stephen L. Green for $4.28 million, Ilaina Jonas writes for
Reuters.

According to Reuters, under the Court-approved purchase plan,
Green-controlled investment entity Green Family Media LLC would
repay the $3.25 million the Debtor has borrowed since October,
provide $500,000 in cash, and repay $526,000 owed on the Debtor's
lease of its corporate headquarters in New York.  

Green Family Media also has committed an additional $200,000 in
cash to keep the business going until the deal closes on Friday,
Feb. 23, 2007, the source says.

Mr. Green will not assume other immediate debts from the network,
Reuters says.

                           DIP Financing

The Debtor previously obtained Court authority to borrow up to
$2.6 million from Democracy Allies LLC, pursuant to a debtor-in-
possession loan agreement dated Oct. 12, 2006.

The DIP Financing Agreement primarily entails closing of the sale
of the Debtor's business.

By order dated Feb. 1, 2007, the Court authorized the Debtor to
borrow up to an additional $650,000 from Democracy Allies,
increasing the total authorized postpetition lending facility to
$3.25 million.

Air America Media, a company controlled by SLG Media LLC, an
entity owned by Mr. Green in his individual capacity, has advanced
$250,000 in new money to Democracy Allies to assist it in making
additional loan advances to the Debtor.

Democracy Allies owns a minority interest in Air America Media.

Air America Radio, aka Piquant LLC -- http://www.airamerica.com/
-- is a full-service radio network and program syndication service
in the United States.  The network features discussion and
information programs reflecting a liberal, left wing, or
progressive point of view.  Air America filed a voluntary Chapter
11 petition on Oct. 13, 2006 (Bankr. S.D.N.Y. Case No: 06-12423)
Tracy L. Klestadt, Esq., at Klestadt & Winters, LLP, represents
the Debtor.  No Official Committee of Unsecured Creditors has been
appointed in this case.  When the Debtor filed for bankruptcy, it
disclosed total assets of approximately $4.3 million and total
debts of over $20 million.


ALLIED HOLDINGS: Can Renew Canada Insurance Policies with AIG
-------------------------------------------------------------
Allied Holdings Inc. and its debtor-affiliates obtained permission
from the Honorable Ray Mullins of the U.S. Bankruptcy Court for
the Northern District of Georgia to enter into and renew certain
insurance policies and agreements with certain affiliates of
American International Group, Inc., related to their insurance
policies in Canada.

As reported in the Troubled Company Reporter on Feb. 6, 2007, the
insurance policies, which are renewable annually, include
commercial general liability, automobile liability, excess
liability, commercial umbrella liability, special risks
liability, property liability and others.  The Debtors considered
several options in connection with their insurance renewal process
and solicited bids from several insurance carriers.  The Debtors
received and accepted a proposal for casualty insurance, dated
Jan. 10, 2007, from AIG.

The Renewal Agreement provides all requested liability coverage.
The total estimated cost of the 2007 Canadian Insurance Programs
with AIG, including premiums, is CDN$2,498,285.

Pursuant to the Renewal Agreement, the Debtors agree to make
certain payments and reimbursements to AIG, including payments on
account of premiums, premium taxes, surcharges and assessments,
funding of claims payment funds for losses under the policies and
expenses allocated within their insurance deductibles, other
expenses within the insurance deductible but not allocated to
specific losses, certain related claim service fees and certain
paid losses and loss adjustment expenses.

Harris B. Winsberg, Esq., at Troutman Sanders LLP, in Atlanta,
Georgia, noted that without the insurance policies, the
Debtors will be unable to operate their businesses in Canada.
The Debtors have determined in their sound business judgment that
the Canadian Insurance Programs with AIG remain the most
beneficial option for them and their estates.  The Debtors are
also confident that, in entering the Renewal Agreement with AIG,
they will have adequately insured their business, protected the
interests of their estates and allowed them to continue
successful operations.  Moreover, Mr. Winsberg says, without the
insurance coverage provided by the Renewal Agreement, the Debtors
would be unable to comply with contractual, state law and other
regulatory insurance requirements or satisfy the U.S. Trustee
debtor-in-possession guidelines with respect to maintenance of
adequate insurance coverage, which would jeopardize their business
operations and the value of their estates.

                     About Allied Holdings

Based in Decatur, Georgia, Allied Holdings Inc. (AMEX: AHI, other
OTC: AHIZQ.PK) -- http://www.alliedholdings.com/-- and its  
affiliates provide short-haul services for original equipment
manufacturers and provide logistical services.  The company and 22
of its affiliates filed for chapter 11 protection on July 31, 2005
(Bankr. N.D. Ga. Case Nos. 05-12515 through 05-12537).  Jeffrey W.
Kelley, Esq., at Troutman Sanders, LLP, represents the Debtors in
their restructuring efforts.  Henry S. Miller at Miller Buckfire &
Co., LLC, serves as the Debtors' financial advisor.  Anthony J.
Smits, Esq., at Bingham McCutchen LLP, provides the Official
Committee of Unsecured Creditors with legal advice and Russell A.
Belinsky at Chanin Capital Partners, LLC, provides financial
advisory services to the Committee.  When the Debtors filed for
protection from their creditors, they estimated more than $100
million in assets and debts.  (Allied Holdings Bankruptcy News,
Issue No. 40; Bankruptcy Creditors' Service, Inc.
http://bankrupt.com/newsstand/or 215/945-7000)

The Debtors are currently asking the Court to extend their
exclusive plan filing period to April 25, 2007.


ALLIED HOLDINGS: Can Enter Into Nat'l Union Insurance Renewal Pact
------------------------------------------------------------------
Allied Holdings, Inc. and its debtor-affiliates obtained authority
from the Honorable Ray Mullins of the U.S. Bankruptcy Court for
the Northern District of Georgia to enter into an insurance
renewal agreement with National Union Fire Insurance Co. of
Pittsburgh, Pennsylvania, and certain affiliates of American
International Group, Inc., for their insurance policies in the
United States.

As reported in the Troubled Company Reporter on Feb. 5, 2007, the
U.S. Insurance Programs are renewable annually and, in connection
with their insurance renewal process, the Debtors have considered
several options.  The Debtors received and accepted a proposal
from National Union for casualty insurance program, dated Dec. 28,
2006.  Among other things, the Renewal Agreement provides:

    * workers' compensation coverage with a guaranteed cost and
      no retained claims risk for the Debtors;

    * an automobile liability policy that has a $1,000,000 per
      occurrence deductible with no annual aggregate cap;

    * a commercial general liability policy with no deductible;
      and

    * a total estimated cost of $28,000,000, including premiums.

Pursuant to the Renewal Agreement, the Debtors agree to make
certain payments and reimbursements to National Union, including,
payments on account of premiums, premium taxes, surcharges and
assessments, funding of claims payment funds for losses under the
policies and expenses allocated within their insurance
deductibles, other expenses within their insurance deductible but
not allocated to specific losses, certain related claim service
fees and certain paid losses and loss adjustment expenses.

Harris B. Winsberg, Esq., at Troutman Sanders LLP, in Atlanta,
Georgia, told Judge Mullins that the continuation of the U.S.
Insurance Programs with National Union is critical to the success
of the Debtors' cases as without the insurance policies, they will
be unable to comply with contractual, state law and other
regulatory insurance requirements or satisfy the U.S. Trustee
debtor-in-possession guidelines with respect to the maintenance of
adequate insurance coverage.  These things, according to Mr.
Winsberg, would jeopardize the Debtors' business operations and
the value of their estates.

                     About Allied Holdings

Based in Decatur, Georgia, Allied Holdings Inc. (AMEX: AHI, other
OTC: AHIZQ.PK) -- http://www.alliedholdings.com/-- and its  
affiliates provide short-haul services for original equipment
manufacturers and provide logistical services.  The company and 22
of its affiliates filed for chapter 11 protection on July 31, 2005
(Bankr. N.D. Ga. Case Nos. 05-12515 through 05-12537).  Jeffrey W.
Kelley, Esq., at Troutman Sanders, LLP, represents the Debtors in
their restructuring efforts.  Henry S. Miller at Miller Buckfire &
Co., LLC, serves as the Debtors' financial advisor.  Anthony J.
Smits, Esq., at Bingham McCutchen LLP, provides the Official
Committee of Unsecured Creditors with legal advice and Russell A.
Belinsky at Chanin Capital Partners, LLC, provides financial
advisory services to the Committee.  When the Debtors filed for
protection from their creditors, they estimated more than $100
million in assets and debts.  (Allied Holdings Bankruptcy News,
Issue No. 40; Bankruptcy Creditors' Service, Inc.
http://bankrupt.com/newsstand/or 215/945-7000)

The Debtors are currently asking the Court to extend their
exclusive plan filing period to April 25, 2007.


AMERICAN AXLE: Weak Performance Prompts DBRS' Ratings Downgrade
---------------------------------------------------------------
Dominion Bond Rating Service downgraded the ratings for American
Axle & Manufacturing Holdings Inc.'s Senior Notes and Senior
Convertible Notes to BB (high) from BBB (low), and the trends
remain Negative.

The rating action is based primarily on the increased business
risk facing American Axle mainly related to the issues facing
General Motors Corporation, and weaker-than-expected financial
performance.  The Negative trend reflects the risk of intensifying
industry challenges, notably lower-than-expected light truck
demand at GM and the Chrysler Group, which could weaken the
company's credit profile.

American Axle's customer and product mix is highly focussed on
GM and its light truck operations.  AAM supplies the bulk of the
axles for GM's light-truck and SUVs manufactured in the United
States, where demand has been negatively impacted mainly by
intense competition and shifting consumer preference towards
smaller, more fuel-efficient vehicles.  The steady decline in GM's
market share and production has led to a corresponding increase in
American Axle business risk profile.

DBRS expects the declining production trend to continue over the
near term, and mitigate the benefits of an expected content per
vehicle increase related to the full launch of products under the
GMT-900 platform.  Lower production volumes, combined with
continuing OEM pricing pressure, high input costs, and limited
customer/product diversification are likely to limit a material
improvement in American Axle's profitability over the medium term.

In addition, the company also faces the risk of labour disruptions
at the North American Big Three.  Sharply lower earnings and free
cash flow in the event of intensifying industry challenges would
further pressure American Axle's balance sheet, and have negative
implications for the rating.

Despite the various challenges facing AAM, the company is expected
to remain profitable.  American Axle remains an efficient auto
parts producer, and has implemented restructuring initiatives to
improve its cost base.  The company's recent special attrition
program, along with other restructuring plans, is expected
to reduce structural costs going forward and improve its
competitiveness.

In addition, American Axle is focused on expanding its production
capacity in low-cost regions and diversifying its product/customer
mix, which should improve earnings stability over the medium term.
Furthermore, the lack of large debt maturities before 2010
provides flexibility.


AMERICAN CREDIT: Creditors Vote to Accept Chapter 11 Plan
---------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of North
Carolina, Wilson Division, conditionally approved American Credit
Company's Disclosure Statement explaining its Liquidating Plan of
Reorganization in December 2006.

The Debtor concluded the solicitation process early this month.  
The Debtor reports that creditors overwhelmingly voted to accept
the Plan.

Results of the confirmation hearing scheduled for Feb. 6, 2007,
are not publicly available at this time.

                       Plan Implementation

The Debtor plans to vacate its present corporate offices, and
consolidate its books and records and any continued Plan or
business activities at its current branch office located in
Greenville, North Carolina, on a month-to-month lease basis.  The
Debtor plans to reduce its workforce and dispose of its tangible
personal property.

Payments provided under the terms of the Plan will be made from:

   a) the Debtor's cash on hand at the effective date of the Plan;

   b) net proceeds from Debtor's collection of accounts
      receivable and tax refunds, if any;

   c) net proceeds from litigation recoveries, if any; and

   d) net sale proceeds from any other retained assets designated
      for the sale.

                       Treatment of Claims

All Administrative, Priority and Tax Claims will be paid in full.

Unsecured Allowed Claims will be paid on a pro rata basis from the
disposition proceeds, after administrative, priority, tax, and
secured claims have been paid in full; and the bankruptcy
litigation proceeds.

Under the Plan, shareholder interests will be terminated and
extinguished.

                   Wells Fargo's Secured Claim

On Feb. 6, 2007, the Debtor modified its Plan to provide, among
others, that:

   (1) Wells Fargo Financial Preferred Capital Inc., which has a
       secured claim for $12,900,000, will retain its lien in its
       collateral;

   (2) The Wells Fargo loan will be decelerated, as necessary,
       treated as a current, non-default loan, and the
       outstanding balance calculated as of the Effective Date by
       application of the contract, non-default, rate of interest
       through the Effective Date;

   (3) The outstanding balance of the Wells Fargo claim, will be
       calculated on a non-default basis, as of the Effective
       Date, with all post-petition payments, being applied as
       principal payment reductions;

   (4) The Wells Fargo Aggregate Balance will be paid by:

          -- application of the prior post-petition principal
             payment reductions made during the pendency of this
             case, which is $9,753,515 through February 2, 2007;

          -- the sale proceeds from the sale of retail contracts
             to Time Investment Corporation pursuant to a verbal
             pricing quote given on February 5, 2007, estimated
             to be $2,900,000 at closing, plus the unused portion
             of the contract holdback $75,000 closing escrow;

          -- $170,000 cash on the confirmation date;

          -- assignment without recourse of the $246,000 Future
             Financial Note balance to Wells Fargo on the
             confirmation date;

          -- the unused portion of the contract holdback $75,000
             closing escrow from the January 25, 2007 Time
             Investment sale; and

          -- assignment without recourse to Wells Fargo of all
             residual, unsold receivables, estimated value in
             excess of $50,000 to $100,000; and

   (5) Wells Fargo will have no unsecured or administrative
       claim.

                        Voting Results

The Debtor informs the Court that Wells Fargo filed the lone
ballot that rejected the Plan.  Wells Fargo's claim amount on the
ballot was $5,648,579.  

All creditors under two other impaired classes voted to accept the
Plan -- 38 ballots were received from holders of unsecured claims
totaling $2,493,995 and two ballots totaling $499,777 were filed
by holders of equity interest.  

Headquartered in Greenville, North Carolina, American Credit
Company, aka Resident Lenders of North Carolina, Inc., is a
financial services company that provides consumer loans and
auto financing.  The Debtor filed for chapter 11 protection on
July 21, 2006 (Bankr. E.D. N.C. Case No. 06-02189).  Gregory B.
Crampton, Esq., and Stephani W. Humrickhouse, Esq., at Nicholls &
Crampton, P.A., represent the Debtor.  Brian D. Darer, Esq., at
Parker Poe Adams & Bernstein LLP represents the Official Committee
of Unsecured Creditors.  The Debtor's financial condition as of
May 31, 2006, showed total assets of $21,263,884 and total debts
of $18,075,640.


AMERICAN TOWER: Earns $27.5 Million in Quarter Ended December 31
----------------------------------------------------------------
American Tower Corp. reported that for the fourth quarter ended
Dec. 31, 2006, its net income increased to $27.5 million; rental
and management segment revenue increased to $1.2 billion; adjusted
EBITDA increased to $868.2 million; and cash provided by operating
activities increased to $620.7 million.

Jim Taiclet, American Tower's chief executive officer stated, "As
demonstrated by American Tower's strong revenue, Adjusted EBITDA,
and Free Cash Flow growth, 2006 was a positive year for the tower
industry.  We anticipate that the factors which drove much of our
new business in 2006 will continue into 2007, including
initiatives by US wireless carriers to increase capacity and
coverage and deploy new data services.  Additionally, we look
forward to working closely with our customers who acquired
spectrum as part of Auction 66 to help enable the effective and
rapid deployment of new markets and services.

"During 2007, we will continue to actively pursue the three
pillars of our corporate strategy: seeking and evaluating
opportunities, both domestically and internationally, to add
quality assets to our portfolio, achieving the highest possible
returns on those assets through continuous improvement of our
operational execution, and optimizing our balance sheet to benefit
our shareholders while maintaining the financial flexibility to
pursue future strategic opportunities," Mr. Taiclet said.

             Fourth Quarter 2006 Operating Highlights

For the quarter ended December 31, 2006, American Tower's total
revenues increased 10% to $337.6 million and rental and management
segment revenues increased 9% to $331.2 million.  Rental and
Management Segment Gross Margin increased 12% to $249.8 million
and Services segment revenue and Gross Margin increased to $6.4
million and $2.8 million, respectively.

Total selling, general, administrative and development expense was
$44.0 million. The Company's selling, general, administrative and
development expense for the quarter includes stock-based
compensation expense of $10.0 million and $6.6 million of
additional costs related to the review of the Company's stock
option granting practices, related legal and governmental
proceedings and other related costs.  Including these additional
costs related to the stock option review, Adjusted EBITDA
increased 12% to $218.5 million and Adjusted EBITDA Margin was
65%.

Income from operations increased to $73.4 million, and net income
increased to $18.3 million, or $0.04 per basic and diluted common
share.

Free Cash Flow increased to $109.1 million, consisting of $145.6
million of cash provided by operating activities, less $36.4
million of payments for purchases of property and equipment and
construction activities, including $14.7 million of discretionary
capital spending.  The Company completed the construction of 64
towers and the installation of 3 in-building systems during the
quarter.

                      About American Tower

Headquartered in Boston, Massachusetts, American Tower Corporation
(NYSE: AMT) -- http://www.americantower.com/-- is an independent  
owner, operator and developer of broadcast and wireless
communications sites in the United States, Mexico and Brazil.  
American Tower owns and operates over 22,000 sites in the United
States, Mexico, and Brazil.  Additionally, American Tower manages
approximately 2,000 revenue producing rooftop and tower sites.

                          *     *     *

As reported in the Troubled Company Reporter on Feb. 16, 2007,
Moody's Investors Service upgraded the corporate family rating of
American Tower Corporation to Ba1 from Ba2, and affirmed the
company's SGL-1 liquidity rating.  The outlook is stable.


AMERICAN TOWER: Board Approves $1.5 Billion Stock Repurchase Plan
-----------------------------------------------------------------
American Tower Corp.'s Board of Directors approved Tuesday, a new
stock repurchase program pursuant to which the company intends to
repurchase up to $1.5 billion of its Class A common stock through
February 2008.

The Company expects to utilize cash on hand, cash from operations,
borrowings under its credit facilities, and borrowings from
potential future financings to fund the repurchase program.  Under
the program, management is authorized to purchase shares from time
to time in open market purchases or privately negotiated
transactions at prevailing market prices.  To facilitate
repurchases, the company plans to make purchases pursuant to a
Rule 10b5-1 plan, which will allow the company to repurchase its
shares during periods when it otherwise might be prevented from
doing so under insider trading laws or because of self-imposed
trading blackout periods.

The company expects to complete its current $750 million stock
repurchase program by the end of February 2007, at which time the
company expects to commence its new stock repurchase program.
During the quarter ended December 31, 2006, the company
repurchased approximately 1.1 million shares of its Class A common
stock for approximately $40 million.  

As of February 20, 2007, the company had repurchased an aggregate
of 20.2 million shares of its Class A common stock for
approximately $686 million pursuant to this program, which
includes the repurchase of 7.2 million shares of its Class A
common stock for approximately $287 million subsequent to December
31, 2006.

                       Financing Highlights

In February 2007, the company raised $550 million of additional
borrowing capacity under the senior secured credit facilities of
its principal operating subsidiaries.  The company secured a $300
million revolving loan under the American Tower credit facility
and a $250 million revolving loan under the SpectraSite credit
facility, both of which remained undrawn at closing.  In addition,
the company drew down $250 million of its existing revolving loans
under the American Tower credit facility to fund repurchases of
the company's 5.0% Convertible Notes, pursuant to its previously
announced tender offer.  As a result, the company increased its
available liquidity under its credit facilities as of February 20,
2007, to over $800 million, which may be used to fund stock
repurchases, repurchase existing debt, and for other general
corporate purposes.  The terms of the new revolving loans are
consistent with the terms of the company's existing credit
facilities and mature on October 27, 2010.

During the first half of 2007, the company anticipates raising
additional capital through a securitization of the majority of the
towers in its SpectraSite portfolio to repurchase existing debt,
fund stock repurchases, and for other general corporate purposes.

                      Organizational Changes

Jean Bua, currently the company's Senior Vice President, Finance
and Corporate Controller, will be assuming greater
responsibilities in the company's finance organization and
accordingly, will be promoted to Executive Vice President, Finance
and Corporate Controller.

In addition, Michael Gearon, Vice Chairman and President of
American Tower International, has notified the company of his
intention to leave the company to devote more time to his personal
endeavors and other interests.

Hal Hess, currently the company's Executive Vice President,
General Counsel, will assume Mr. Gearon's responsibilities as the
new Executive Vice President, International Operations.  Mr. Hess
originally joined the company in 2001 as Chief Financial Officer
of American Tower International and has continued to serve in that
capacity since becoming General Counsel of the company in 2002.

The company is in the process of hiring a new Chief Administrative
Officer, who will assume the responsibilities of General Counsel
as Mr. Hess transitions into his new role.

                       About American Tower

Headquartered in Boston, Massachusetts, American Tower Corporation
(NYSE: AMT) -- http://www.americantower.com/-- is an independent  
owner, operator and developer of broadcast and wireless
communications sites in the United States, Mexico and Brazil.  
American Tower owns and operates over 22,000 sites in the United
States, Mexico, and Brazil.  Additionally, American Tower manages
approximately 2,000 revenue producing rooftop and tower sites.

                          *     *     *

As reported in the Troubled Company Reporter on Feb. 16, 2007,
Moody's Investors Service upgraded the corporate family rating of
American Tower Corporation to Ba1 from Ba2, and affirmed the
company's SGL-1 liquidity rating.  The outlook is stable.


AMERISOURCEBERGEN CORP: Stockholders Re-Elect Three Directors
-------------------------------------------------------------
At the AmerisourceBergen Corp. annual meeting of stockholders,
held in Philadelphia, the stockholders re-elected three directors:
Edward E. Hagenlocker, Kurt J. Hilzinger, and Henry W. McGee.

In addition, stockholders ratified the appointment of Ernst &
Young as its independent registered public accounting firm for
fiscal 2007.  During the meeting, AmerisourceBergen's Chief
Executive Officer, R. David Yost, gave an overview of the
company's activities and outlook for the coming year.

Mr. Hagenlocker, 67, has been a director of the company since
August 2001.  Before that, he was a director of AmeriSource Health
Corp. from 1999 to August 2001.  He was Vice Chairman of Ford
Motor Company from 1996 until his retirement in 1999 and Chairman
of Visteon Automotive Systems from 1997 to 1999.  Mr. Hagenlocker
is also a director of Air Products and Chemicals, Inc., American
Standard Companies Inc., and Alcatel-Lucent.

Mr. Hilzinger, 46, has been a director of the company since March
2004, and has been President and Chief Operating Officer of the
company since October 2002.  Before that, he was Executive Vice
President and Chief Operating Officer of the company from August
2001 to October 2002.  Mr. Hilzinger was President and Chief
Operating Officer of AmeriSource Health Corp. from December 2000
to August 2001, Senior Vice President and Chief Operating Officer
from January 1999 to December 2000, and Senior Vice President and
Chief Financial Officer from 1997 to January 1999.  He is also a
director of Humana Inc.

Mr. McGee, 54, has been a director of the company since November
2004.  He has been President of HBO Video, a unit of Home Box
Office, Inc., since 1995.  He held a variety of other positions
with Home Box Office, Inc., Time Warner, Inc. (the parent of Home
Box Office, Inc.) and their predecessors since 1979.  Mr. McGee is
President of the Alvin Ailey Dance Foundation, Inc.

The AmerisourceBergen Board of Directors is comprised of 10
members.

                      About AmerisourceBergen

Headquartered in Valley Forge, Pa., AmerisourceBergen Corp.
(NYSE:ABC) -- http://www.amerisourcebergen.com/-- is one of the  
world's largest pharmaceutical services companies serving the
United States, Canada and selected global markets.  
AmerisourceBergen's service solutions range from pharmacy
automation and pharmaceutical packaging to pharmacy services for
skilled nursing and assisted living facilities, reimbursement and
pharmaceutical consulting services, and physician education.
AmerisourceBergen employs more than 14,000 people.

                           *     *     *

As reported in the Troubled Company Reporter on Nov. 7, 2006,
Moody's Investors Service affirmed AmerisourceBergen Corp.'s Ba1
Corporate Family Rating.


ARMSTRONG WOLRD: In Talks with NPM Capital on Likely Desseaux Sale
------------------------------------------------------------------
Armstrong World Industries Inc. and NPM Capital N.V. are
negotiating on the possible sale of Desseaux N.V. and its
subsidiaries, the principal operating companies in Armstrong's
European Textile and Sports Flooring business segment, to NPM
Capital N.V., Armstrong said in January 2007.  The negotiations
are at the stage where it is expected that the parties will enter
into an agreement.

AWI acquired Tapijtfabriek H. Desseaux in 1998 as part of the
purchase of Deutsche Linoleum Werke A.G., a manufacturer and
marketer of resilient flooring products headquartered in
Bietigheim-Bissingen, Germany.  Tapijtfabriek H. Desseaux owns
Desseaux Corp. of North America, a Debtor and subsidiary of AWI.  
Desseaux North America is not a proponent of AWI's Plan of
Reorganization.

Tapijtfabriek H. Desseaux and its subsidiaries manufacture and
market carpet tiles and broadloom carpet for commercial and
residential use in Europe under brand names including Desso(R) and
Bergoss(R), and artificial turf for sports applications in Europe
and the United States under the brand names of Desso DLW Sports
Systems(R) and GrassMaster(R).

The Desseaux business recorded sales of around EUR200,000,000,
which is approximately $262,000,000, in 2005.  Desseaux has
approximately 1,000 employees and manufacturing plants in
Waasmunster, Belgium; Dendermonde, Belgium; and Waalwijk,
Netherlands, where it also has its headquarters.

Michael D. Lockhart, AWI chairman and chief executive officer,
says that the sale of the majority of AWI's Textile and Sports
Flooring business in Europe will allow the Company to focus on its
core European resilient flooring business.

Stef Kranendijk, prospective Desseaux CEO, notes that
Tapijtfabriek H. Desseaux has the potential to further strengthen
its European markets, build on its excellent reputation and well-
known brand names, and expand its leading position in the textile
and sports flooring segments.

AWI plans to retain ownership of certain Desseaux businesses,
including automotive carpeting and linoleum-based indoor sports
flooring.  Its continuing flooring manufacturing operations in
Europe include linoleum production in Delmenhorst, Germany;
resilient vinyl flooring in Teesside, England and Holmsund,
Sweden; and resilient vinyl flooring and automotive carpeting in
Bietigheim-Bissingen, Germany.

                         About NPM Capital

NPM Capital -- http://www.npm-capital.com/-- focuses on Dutch  
companies in general and in particular on companies that have a
strong growth strategy and that are led by enterprising managers.   
In many instances the companies are either already a market leader
in a certain market or have the potential to attain this position.  
NPM Capital is a division of SHV Holdings.

                         About Armstrong

Based in Lancaster, Pennsylvania, Armstrong World Industries, Inc.
-- http://www.armstrong.com/-- designs and manufactures floors,  
ceilings and cabinets.  AWI operates 42 plants in 12 countries and
employs approximately 14,200 people worldwide.

The company and its affiliates filed for chapter 11 protection on
December 6, 2000 (Bankr. Del. Case No. 00-04469). StephenKarotkin,
Esq., at Weil, Gotshal & Manges LLP, and Russell C.Silberglied,
Esq., at Richards, Layton & Finger, P.A., represent the Debtors in
their restructuring efforts.  The company and its affiliates
tapped the Feinberg Group for analysis, evaluation, and treatment
of personal injury asbestos claims.

Mark Felger, Esq. and David Carickhoff, Esq., at Cozen and
O'Connor, and Robert Drain, Esq., Andrew Rosenberg, Esq., and
Alexander Rohan, Esq., at Paul, Weiss, Rifkind, Wharton &
Garrison, represent the Official Committee of Unsecured Creditors.
The Creditors Committee tapped Houlihan Lokey for financial and
investment advice.  The Official Committee of Asbestos Personal
Injury Claimant hired Ashby & Geddes as counsel.

The Bankruptcy Court confirmed AWI's plan on Nov. 18, 2003.  The
District Court Judge Robreno confirmed AWI's Modified Plan on
Aug. 14, 2006.  The Clerk entered the formal written confirmation
order on Aug. 18, 2006.  The company's "Fourth Amended Plan of
Reorganization, as Modified," has become effective and AWI has
emerged from Chapter 11.

                          *     *     *

As reported in the Troubled Company Reporter on Oct. 9, 2006,
Standard & Poor's Ratings Services raised its corporate credit
rating on Armstrong World Industries Inc. to 'BB' from 'D',
following the Company's emergence from bankruptcy on Oct. 2, 2006.
The outlook is stable.


CASTLE ROCK: Case Summary & 17 Largest Unsecured Creditors
----------------------------------------------------------
Lead Debtor: Castle Rock 25 Partners LLC
             200 South Orange Avenue, Suite 2025
             Orlando, FL 32801

Bankruptcy Case No: 07-00384

Debtor affiliates filing separate chapter 11 petitions:

      Entity                                     Case No.
      ------                                     --------
      Dacono 25 Partners LLC                     07-00385

Chapter 11 Petition Date: February 5, 2007

Court: Middle District of Florida (Orlando)

Judge: Karen S. Jennemann

Debtors' Counsel: R. Scott Shuker, Esq.
                  Latham Shuker Barker Eden & Beaudine LLP
                  P.O. Box 3353
                  Orlando, FL 32802
                  Tel: (407) 481-5800
                  Fax: (407) 481-5801

                                Estimated Assets   Estimated Debts
                                ----------------   ---------------
Castle Rock 25 Partners LLC     $1 Million to      $1 Million to
                                $100 Million       $100 Million

Dacono 25 Partners LLC          $1 Million to      $1 Million to
                                $100 Million       $100 Million

A. Castle Rock 25 Partners LLC's Six Largest Unsecured Creditors:

   Entity                     Nature of Claim       Claim Amount
   ------                     ---------------       ------------
US Euro Partners LLC          Loan                    $9,961,281
5950 Hazeltine National Dr.
Suite 515
Orlando, FL 32822

Great Land Dev LLC            Loan                      $752,616
c/o W. Stanchina
5950 Hazeltine National Dr.
Suite 515
Orlando, FL 32822

Savannah 95 Partners LLC      Loan                      $113,388
c/o Jupiter USA Inc
200 South Orange Avenue
Suite 2025
Orlando, FL 32801

Harborside 17 Partners LLC    Loan                       $61,954
c/o Jupiter USA Inc
200 SOuth Orange Avenue
Suite 2025
Orlando, FL 32801

Standev & Associates Inc.                                 $2,313
5950 Hazeltine National Drive
Suite 515
Orlando, FL 32822

US Euro Partners LLC                                      $1,761
5950 Hazeltine National Drive
Suite 515
Orlando, FL 32822

B. Dacono 25 Partners LLC's 11 Largest Unsecured Creditors:

   Entity                     Nature of Claim       Claim Amount
   ------                     ---------------       ------------
Int'l European Realty         Loan                      $686,229
St. Andrews Court
Frederick Street Steps
P.O. Box N-4805, Nassau
Bahamas

Stanchina Family Partners     Loan                      $475,912
9655 Blandford Road
Orlando, FL 32827

All in the Stars, Ltd.        Loan                      $449,682
200 South Orange Avenue
Suite 2025
Orlando, FL 32801

Jupiter USA, Inc.             Loan                       $81,712

Harborside 17 Partners        Loan                       $70,000

Int'l European Realty         Loan Commission            $42,000

Terra Asset Management        Loan                       $40,856

Savannah 95 Partners LLC      Loan                       $20,000

Standev & Associates Inc                                  $2,313

Koptz, Nuszer                                             $2,220

US Euro Partners LLC          Expenses                    $1,766


CATHOLIC CHURCH: Portland Wants Allied Commitment Letter Performed
------------------------------------------------------------------
The Archdiocese of Portland in Oregon seeks authority from the
U.S. Bankruptcy Court for the District of Oregon to execute and
deliver its Commitment Letter with Allied Irish Bank, and to pay
a $100,000 Commitment Fee.

Howard M. Levine, Esq., at Sussman Shank LLP, in Portland,
Oregon, asserts that the Amended Joint Plan of Reorganization
filed by Portland and the other Plan Proponents require Portland
to provide funds to pay certain Allowed Claims and to partially
fund and provide collateral for trusts to be established for the
benefit the Unresolved Known Tort Claimants and the Future
Claimants.  Mr. Levine relates that the Commitment Letter sets
forth the agreement with Allied Irish Bank for the Bank to
provide Portland with a $40,000,000 credit facility to assist the
Archdiocese in meeting its obligations under the Joint Plan.

Portland believes that its execution and delivery of the
Commitment Letter, and payment to Allied Irish Bank, are out of
the ordinary course of business transactions for which Court
approval is required.

Portland asks Judge Perris to approve its request so that it can
continue to take steps necessary to obtain funding for the Joint
Plan, get the Joint Plan confirmed, pay creditors, and
successfully exit bankruptcy.

A full-text copy of Portland's Commitment Letter with Allied
Irish Bank is available for free at:

               http://ResearchArchives.com/t/s?1a12

The Archdiocese of Portland in Oregon filed for chapter 11
protection (Bankr. Ore. Case No. 04-37154) on July 6, 2004.
Thomas W. Stilley, Esq., and William N. Stiles, Esq., at Sussman
Shank LLP, represent the Portland Archdiocese in its restructuring
efforts.  Albert N. Kennedy, Esq., at Tonkon Torp, LLP, represents
the Official Tort Claimants Committee in Portland, and scores of
abuse victims are represented by other lawyers.  David A. Foraker
serves as the Future Claimants Representative appointed in the
Archdiocese of Portland's Chapter 11 case.  In its Schedules of
Assets and Liabilities filed with the Court on July 30, 2004, the
Portland Archdiocese reports $19,251,558 in assets and
$373,015,566 in liabilities.  (Catholic Church Bankruptcy News,
Issue No. 80; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


CATHOLIC CHURCH: Parties Respond on Portland Estimation Protocol
----------------------------------------------------------------
The Archdiocese of Portland in Oregon, the Official Committee of
Tort Claimants, and various tort claimants filed responses to the
proposed methodologies for the estimation of the remaining
Unresolved Known Tort Claims submitted to the Court.

(A) Tort Claimants Committee

The Official Committee of Tort Claimants disagrees with the
Estimation Methodology for Unresolved Known Tort Claims proposed
by Portland.

Albert N. Kennedy, Esq., at Tonkon Torp LLP, in Portland, Oregon,
asserts that Portland and each claimant should be allowed to
stipulate to adopt the U.S. Bankruptcy Court for the District of
Oregon's estimation of claim amounts for voting and confirmation
purposes.  He points out that the Proposed Estimation Procedures
overlook several essential issues, including, predicting what a
jury will do.  He explains that prior settlement values are
irrelevant because the remaining unresolved known tort claims
remain unsettled.  The only predictor of future jury awards is
past jury awards.  Therefore, the Court must consider jury awards
in jury trials involving a lawsuit by a survivor of priest abuse
against a Catholic diocese or archdiocese in the U.S. during the
last 10 years.  Portland has already produced evidence of all but
the most recent jury awards.

According to Mr. Kennedy, each Claimant must have an opportunity
to offer live or videotaped deposition testimony, for his or her
credibility is the single biggest factor in a jury award.  Mr.
Kennedy argues that a consolidated hearing on punitive damages
must be held, where these evidences will be introduced:

    (a) jury verdicts in clergy abuse cases against Catholic
        dioceses and archdioceses, including the division of those
        verdicts between compensatory and punitive damages;

    (b) pattern and practice evidence supporting Claimants'
        assertions relating to Portland's negligence;

    (c) other evidence as each Claimant may produce with respect
        to punitive damages; and

    (d) Portland's rebuttal.

(B) Various Tort Claimants

Following discussions with all Unresolved Known Tort Claimants
represented by Erin K. Olson, Esq., Kelly Clark, Esq., Brad
Baker, Esq., and Gary Bisaccio, Esq., the Tort Claimants declare
they do not oppose Portland's Options 1 and 2.  However, with
respect to the estimation procedure for Option 3, the Tort
Claimants agree that the Court and the District Court jointly, or
just the District Court, should conduct the estimation proceeding
in the interest of expediency.  The Tort Claimants propose this
timeline:

    (1) On Feb. 28, 2007, Portland and the Tort Claimants will
        file written materials, consisting of, among others:

       (a) Documentary and Memoranda summarizing evidence and
           legal arguments for each claim, including deposition
           transcripts, and documents obtained in discovery, for
           compensatory damages and, pattern and practice
           evidence, for punitive damages;

       (b) List of live witnesses the parties intend to examine
           during the estimation hearing; and

       (c) Documents exchanged by the parties in discovery or
           subpoenaed from third parties will be deemed admissible
           unless the opposing party files an objection by
           March 9, 2007;

    (2) On March 2, 2007, the parties will identify witnesses from
        other party's submission whose depositions or discovery
        they wish to obtain.  A Party who has not previously been
        deposed must be available for deposition by March 6;

    (3) On March 8, 2007, the Parties will file responses to the
        submissions of the other party;

    (4) The Estimation Hearing will be held March 13 to 16, 2007,
        and will proceed as:

       (a) For each Tort Claim, the Parties will each have 90
           minutes to present evidence and argument on
           compensatory damages, with the opposing party having an
           equal amount of time on cross-examination with live
           witnesses, and with reasonable rebuttal permitted at
           the Court's discretion;

       (b) At the conclusion of all presentations, evidence may be
           introduced on a consolidated basis concerning jury
           verdicts in other clergy abuse cases, pattern and
           practice evidence supporting Claimants' assertions, and
           evidence of punitive damages;

       (c) The estimation hearing will be open to the public,
           including its documents, except sealed evidence; and

    (5) A party wishing to file a sealed document may do so during
        the estimation proceeding, attaching the document in
        question, by February 23, 2007, together with the opposing
        Party's position on the motion.

(C) Portland

No party-in-interest objects to the first two options presented
by Portland.  Thus, the Court should adopt both methods as
initial options to estimate the Unresolved Known Tort Claims,
says Thomas V. Dulcich, Esq., at Schwabe Williamson & Wyatt,
P.C., in Portland, Oregon.

The Archdiocese of Portland in Oregon asks the Court to reject
the proposal of the Official Committee of Tort Claimants to hold
a single consolidated hearing at the conclusion of the proposed
individual hearings to hear evidence relating to dollar values of
comparable cases, and Portland's potential liability for punitive
damages.

Mr. Dulcich argues that the Court should instead adopt Portland's
revised proposed hearing methodology because it is
uncontroversial and reflects compromises by the interested
parties.  He points out that the Tort Claimants Committee's
Proposal presumes the remaining claims will all share the same
evidence on "value and comparable case" issues and that out-of-
state jury verdicts are necessarily comparable cases.  He
contends that that premise is incorrect because not all of the
remaining Unresolved Known Tort Claims assert or have a right to
punitive damages, and are not similar.  Thus, the proposal is
impractical, he continues.

Mr. Dulcich says Portland's proposed revised estimation
methodology provides that:

    (1) Claims should be estimated by the Bankruptcy and District
        Courts sitting jointly, as previously proposed; and

    (2) The Court should adopt an estimation method that will not
        cause undue delay in administration and is designed to
        achieve accurate estimations of the value of each Tort
        Claim:

        (a) By March 1, 2007, Portland and each Claimant must
            submit these materials in addition to all previously
            submitted documents by either party with respect to
            estimation for voting purposes:

            * any material and evidence for the hearing, including
              declarations, affidavits, exhibits, reports, and
              Live Witness Disclosure Statements if the witness
              will testify at the estimation hearing; and

            * any supporting legal memorandum;

        (b) By March 8, 2007, each Claimant and Portland must
            submit rebuttals.  No reply to rebuttal submissions is
            authorized:

            * all rebuttal materials and evidence in the form of
              Live Witness Disclosure Statements; and

            * rebuttal memoranda, including any commentary on the
              evidence submitted and legal arguments in support of
              the party's position;

        (c) No further discovery will be allowed because the
            parties have had sufficient opportunity to conduct
            discovery in connection with claims and mediation
            proceedings prior to the estimation hearings;

        (d) Evidence submitted maybe considered by the Bankruptcy
            and District Courts and given the weight to which the
            Courts deem it entitled in their discretion in view of
            existing legal precedents;

        (e) There will be cross-examinations at the hearings of
            any witness who offers live testimony to be done
            within the party's allotted time; and

        (f) On March 12 to 15, 2007, the Courts will jointly
            conduct individual hearings for a total of two hours
            per claim, one hour for Claimant, and one for
            Portland.

Mr. Dulcich says that the Court should conduct the estimation
hearings to determine the value of each remaining claim, and not
to provide a "free-for-all" for the Tort Claimants Committee or
the Claimants' attorneys to present evidence of Portland's
alleged wrongdoing on resolved claims.  He asserts that
Portland's proposed methodology, as revised, should be adopted
because it will streamline and expedite estimation of Unresolved
Known Tort Claims and prevent "undue delay" and unfairness.  Any
delay in the confirmation of the Plan will cause significant harm
to Portland and interested parties who have already settled their
claims and are awaiting payment.

               55 Claimants Seek Temporary Allowance

About 53 claimholders ask Judge Perris to grant temporary
allowance of their claims for voting purposes in the amounts to
be filed under seal by their counsel, Kelly Clark, Esq., at
O'Donnell & Clark, LLP, in Portland, Oregon:

                Claim No.             Claimant
                ---------             --------
                   843                      HK
                   317                      MM
                   550                     ATM
                   201                     SNB
                   217                     BGJ
                   199                      GB
                   458                     CDT
                   330                     CWR
                   467                      DC
                   202                      JC
                   206                     REC
                   472                     DJC
                   204                     DET
                   259                     DFT
                   203                      DM
                   153                      JD
                   212                      FM
                   195                      GM
                   449                     HMT
                   842                     HMC
                   466                     HDS
                   549                     HTD
                   146                      RH
                   211                      HS
                   263                     HLL
                   315                     KMC
                   154                      NM
                   273                      MG
                   548                     MRE
                   158                     MJD
                   196                     JLM
                   208             John T. Doe
                   207              John Smith
                   142                      GP
                   197                      RM
                   200              John Doe 1
                   448                      SS
                   198                     SJL
                   328                     SIC
                   298                     SEM
                   294                      ES
                   156                      SW
                   316                     WDM
                   205                     AGY
                   268                     YRD
                   252                     ZTM
                   157                      SL
                   143                      DS
                   148                      MB
                   149                      PL
                   150                      BP
                   151                      VH
                   152                      BD

Brian M. Lagrand, holder of Claim No. 95, offers his estimation
at $10,100,000, while Frederick Turner, holder of Claim No. 278,
informs that his proposed estimated settlement amount is
$494,000.

         Portland Responds to Temporary Allowance Requests

The Archdiocese of Portland in Oregon argues that the temporary
estimated claim values of Claim No. 143 filed by David Schmidt,
Claim No. 311 filed by Joan Doe, Claim No. 473 filed by Nathan
DuFresne, Claim No. 95 filed by Brian M. Lagrand, and Claim No.
278 filed by Frederick Turner, are "grossly inflated" and
unreasonable.

Thomas V. Dulcich, Esq., at Schwabe, Williamson & Wyatt, PC, in
Portland, Oregon, relates that Judge John Wittmayer of the
Circuit Court of the State of Oregon for the County of Multnomah
dismissed with prejudice Claim Nos. 143 and 311, through a
summary judgment in Portland's favor.  He adds that Portland is
only a co-defendant in both Claims and should have a small
fraction, if any, of the resulting liability amount.

Portland also disputes the amounts asserted for Claim Nos. 311
and 473 because both Claims do not constitute sexual abuse and no
harm was caused by the alleged tortfeasors, Mr. Dulcich contends.
Fr. Augustine Alvares became a co-defendant in a case against a
religious order and its member because he refused to give Ms. Doe
her sacramental absolution.  Fr. Michael Johnston was named
tortfeasor after expelling Mr. DuFresne from St. Thomas More
School for bullying other students and his parents' refusal to
cooperate to solve the problem.  Mr. Dulcich relates that no
other complaint was lodged against either priest before or after
these two Claims.

Also, Mr. Lagrand's claim should only be valued closer to the
cost of defense because his allegations of multiple incidents of
sexual abuse by Rev. Aldo Orso-Manzonetta present serious
credibility issues, Mr. Dulcich relates.  He notes that Mr.
LaGrand has been indicted in several fraudulent and theft issues,
including his recent criminal conviction for defrauding an
elderly priest.  In addition, the Claimant's previous "psycho-
diagnostic" and psychiatric examinations did not indicate sexual
abuse.  Rather, the doctors diagnosed a "mixed personality
disorder including both antisocial and narcissistic features."

With regards Mr. Turner's Claim, Portland asserts that the Claim
is barred by the statute of limitations.  The accused, Fr.
Sprauer, was also an employee of the State of Oregon, where he
Fr. Sprauer worked at the McLaren School for Boys.  He was not an
employee of the Archdiocese.  Portland, hence, asks Judge Perris
to have Mr. Turner's claim set for a status conference in mid-
April 2007.

Against this backdrop, Portland asks Judge Perris to temporarily
allow the five Claims in these reasonable and just amounts:

                                              Portland's
    Claim No.       Asserted Amount         Estimated Amt.
    ---------       ---------------         --------------
        95            $10,100,000            minimal value
       143              3,100,000               $28,000
       311              2,275,000                10,000
       473                700,000                10,000
       278                494,000                 7,500

                    Frederick Turner Talks Back

Frederick Turner asks the Court to deny Portland's request for a
status conference in mid-April 2007.  He contends that his Claim
has already been settled and Portland's is merely delaying
closure.

Mr. Turner informs Judge Perris that he is invoking his 5th
Amendment right.  He also threatens to file a separate lawsuit
against Portland for $100,000,000.

The Archdiocese of Portland in Oregon filed for chapter 11
protection (Bankr. Ore. Case No. 04-37154) on July 6, 2004.
Thomas W. Stilley, Esq., and William N. Stiles, Esq., at Sussman
Shank LLP, represent the Portland Archdiocese in its restructuring
efforts.  Albert N. Kennedy, Esq., at Tonkon Torp, LLP, represents
the Official Tort Claimants Committee in Portland, and scores of
abuse victims are represented by other lawyers.  David A. Foraker
serves as the Future Claimants Representative appointed in the
Archdiocese of Portland's Chapter 11 case.  In its Schedules of
Assets and Liabilities filed with the Court on July 30, 2004, the
Portland Archdiocese reports $19,251,558 in assets and
$373,015,566 in liabilities.  (Catholic Church Bankruptcy News,
Issue No. 80; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


CENTRE POINT: Case Summary & Five Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Centre Point Business Park, LLC
        2927 North 34 Place
        Mesa, AZ 85213

Bankruptcy Case No.: 07-00682

Chapter 11 Petition Date: February 20, 2007

Court: District of Arizona (Phoenix)

Judge: Redfield T. Baum Sr.

Debtor's Counsel: Warren J. Stapleton, Esq.
                  Stinson Morrison Hecker LLP
                  1850 North Central Avenue, Suite 2100
                  Phoenix, AZ 85004
                  Tel: (602) 212-8613
                  Fax: (602) 240-6925

Estimated Assets: $1 Million to $100 Million

Estimated Debts:  $1 Million to $100 Million

Debtor's Five Largest Unsecured Creditors:

   Entity                              Claim Amount
   ------                              ------------
Salt River Project                          $86,842
1521 North Project Drive
Tempe, AZ 85281-1298

Arizona Title Agency                       Unknown
10611 North Hayden Road, Suite 104
Scottsdale, AZ 85260

Caviness Construction Co.                  Unknown
12633 North Cave Creek Road
Phoenix, AZ 85022

Suerte Property LLC                        Unknown
c/o James Gierczyk
17475 Jovanna Drive, Suite 2A
Homewood, IL 60430

TAJ Development, LLC                       Unknown
3303 East Baseline Road, Suite 108
Gilbert, AZ 85234


CHARLES RIDGE: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Charles Ridge Realty LLC
        c/o Raymond J. Paczkowski
        P.O. Box 307
        Tewksbury, MA 01876

Bankruptcy Case No.: 07-40251

Chapter 11 Petition Date: January 23, 2007

Court: District of Massachusetts (Worcester)

Judge: Henry J. Boroff

Debtor's Counsel: Peter L. Hatem, Esq.
                  Hatem and Mahoney LLP
                  859 Turnpike Street North
                  Andover, MA 01845-6149
                  Tel: (978) 685-3368
                  Fax: (978) 682-1712

Estimated Assets: $1 Million to $100 Million

Estimated Debts:  $1 Million to $100 Million

Debtor's 20 Largest Unsecured Creditors:

   Entity                                 Claim Amount
   ------                                 ------------
   East Coast Electric                         $36,307
   2 Lan Drive
   Westford, MA 01886

   XCel Fire Protection                        $35,820
   11A Industrial Way, Unit 1
   Salem, NH 03079

   Rocky's Plumbing & Heating                  $33,425
   P.O. Box 2404
   Salem, NH 03079

   Landtech Consultants                        $29,785
   484 Groton Road, Unit 1
   Westford, MA 01886

   James Fenton & Sons                         $26,195
   P.O. Box 985
   Acton, MA 01720

   Aggregate Industries                        $24,602

   Brian Zaher Construction                    $17,740

   Westford Flooring                           $14,852

   Prime Painting                              $12,000

   Overhead Door                                $9,865

   Architectural Fireplaces                     $8,469

   Quality Insulation                           $8,300

   CVC Galaxie Central Vacuum                   $7,032

   Wastewater Technologies                      $4,422

   Soucy Iron Works                             $3,850

   Concord Lumber                               $3,688

   Leeber Oil Co.                               $3,629

   Modern Continental                           $3,169

   Graves Concrete                              $2,952

   A.H. Harris                                  $1,921


CHARLOTTE GROUP: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: Charlotte Group Companies Inc.
        23 South Main Street
        Freeport, NY 11520

Bankruptcy Case No.: 07-70499

Chapter 11 Petition Date: February 16, 2007

Court: Eastern District of New York (Central Islip)

Debtor's Counsel: Richard S Feinsilver, Esq.
                  1 Old Country Road, Suite 125
                  Carle Place, NY 11514
                  Tel: (516) 873-6330
                  Fax: (516) 873-6183

Total Assets: $1,500,000

Total Debts:  $1,160,000

The Debtor did not file a list of its 20 Largest Unsecured
Creditors.


CYBERONICS INC: Has $5.2 Mil. Stockholders' Deficit at October 27
-----------------------------------------------------------------
Cyberonics Inc. has filed its quarterly report for the period
ended Oct. 27, 2006, along with all previously delinquent reports
to the Securities and Exchange Commission.  

Cyberonics' balance sheet at Oct. 27, 2006, showed total assets of
$150,061,551 and total liabilities of $155,274,440 resulting in a  
total stockholders' deficit of $5,212,889.

The company's October 27 balance sheet also showed negative
working capital with $136,433,794 in total current assets
available to pay $153,990,278 in total current liabilities.  

For the thirteen weeks ended Oct. 27, 2006, the company's
net loss narrowed to $12,493,703 from a net loss of $20,551,212
in the thirteen weeks ended Oct. 28, 2005.

Net sales for the current reporting period rose to $34,140,796    
from net sales of $29,070,298 for the same period in 2005.  

Full-text copies of the company's financial statements for the
thirteen weeks ended Oct. 27, 2006, are available for free at:

               http://researcharchives.com/t/s?1a0d

                     Continued NASDAQ Listing

The company said in a press statement that it received a letter
from The NASDAQ Stock Market LLC confirming that it has
demonstrated compliance with all NASDAQ Marketplace Rules and that
the NASDAQ Listing Qualifications Panel has determined to continue
the listing of the company's securities on The NASDAQ Stock
Market.  
    
"Cyberonics was pleased that the company's regulatory obligations
to the SEC and NASDAQ were current, and the company look forward
to continued compliance in the future," Reese S. Terry, Jr.,
the company's interim chief executive officer commented.  "This
was an important milestone in the Cyberonics' efforts to re-focus
attention on the company's business following an exhaustive, five-
month investigation by the Audit Committee of Cyberonics' Board of
Directors into the company's stock option grants, practices and
procedures."

                      NASDAQ Delisting Notice

On July 31, 2006, the company received a Staff Determination
Letter from NASDAQ indicating that it failed to comply with the
filing requirement for continued listing stated in Marketplace
Rule 4310(c)(14) as a result of the delay in filing its 2006 Form
10-K, and that its securities were, therefore, subject to
delisting from The NASDAQ Global Market.

In December 2006, the company informed the NASDAQ Panel about the
current status of its efforts to regain compliance with the NASDAQ
filing requirements and requested an extension until Jan. 27,
2007, to file its 2006 Form 10-K, First Quarter Form 10-Q and
Second Quarter Form 10-Q.

Subsequently, the NASDAQ Panel extended, until Jan. 29, 2007, the
company's deadline for filing of its delinquent SEC reports.

The company then filed its 2006 Form 10-K on Jan. 5, 2007, and its
First Quarter Form 10-Q on Jan. 26, 2007.  

Accordingly, on Jan. 29, 2007, the NASDAQ Panel extended through
March 1, 2007, the company's deadline for filing its Second
Quarter results.

                  No Enough Cash to Pay Debt Soon

For the fiscal years ended April 28, 2006, and April 29, 2005, the
company incurred net losses of $59.0 million and $19.0 million,
respectively.  To fund its operations, in fiscal 2006, the company
incurred additional indebtedness through the issuance of
$125.0 million of senior subordinated convertible notes and the
establishment of a $40.0 million line of credit.

On July 31, 2006, the company received a notice of default and
demand letter from Wells Fargo Bank, National Association,
pursuant to which Wells Fargo asserted that the company was in
default of its obligations under an indenture dated Sept. 27,
2005, as a result of the company's failure to timely file with the
SEC its 2006 Form 10-K by July 12, 2006 and to deliver a copy of
the 2006 Form 10-K to Wells Fargo by July 27, 2006.

In October 2006, the company received a notice of acceleration and
demand letter from Wells Fargo informing the company that,
pursuant to the Indenture, Wells Fargo has declared the Notes due
and payable at their principal amount together with accrued and
unpaid interest, and fees and expenses, and it demands that all
principal, interest, fees and expenses under the Notes be paid to
Wells Fargo immediately.

The company believes that neither a default nor an "event of
default" has occurred under the Indenture.  However, if an event
of default has occurred under the Indenture, all unpaid principal
and accrued interest on the outstanding Notes will be due and
payable.  Accordingly, until this matter is resolved, the company
has included them as a current liability on its Consolidated
Balance Sheets as of April 28, 2006 and as of Oct. 27, 2006.

In addition, if an event of default has occurred under the
Indenture, the company would also be in default of its credit
agreement for the line of credit dated Jan. 13, 2006 with Merrill
Lynch Capital, a division of Merrill Lynch Business Financial
Services Inc. and the lenders who are party thereto.  

The company said it does not have the cash resources available to
repay the principal and interest on its indebtedness immediately.  

                        Going Concern Doubt

As reported in the Troubled Company Reporter on Jan. 10, 2007,
KPMG LLP in Houston, Texas, raised substantial doubt about
Cyberonics Inc.'s ability to continue as a going concern after
auditing the company's financial statements for the fiscal years
ended April 28, 2006, and April 29, 2005.  The auditing firm
pointed to the company's recurring losses from operations, the
receipt of a notice of default and demand letter and notice of
acceleration for a $125 million senior subordinated convertible
notes, and incurrence of a potential default of a $40 million line
of credit.

                         About Cyberonics

Headquartered in Houston, Texas, Cyberonics Inc. (NASDAQ: CYBX)
-- http://cyberonics.com/-- markets the VNS Therapy system in
selected markets worldwide.  The VNS Therapy System uses a
surgically implanted medical device that delivers electrical
pulsed signals to the vagus nerve in the left side of the neck.
This therapy has proven effective in significantly reducing the
number and/or intensity of seizures in many people suffering from
epilepsy and has the potential for use in the treatment of other
inadequately treated, chronic disorders.


DAVITA INC: Inks Amended Employment Agreement with Thomas Usilton
-----------------------------------------------------------------
DaVita Inc. entered into an amendment, effective Dec. 15, 2006, to
its employment agreement dated Aug. 16, 2004, with Thomas Usilton,
the company's senior vice president.

The company said that the amendment increases Mr. Usilton's
base salary from $350,000 per annum to $380,000 per annum and
changes the bonus provision of Mr. Usilton's Employment Agreement
and provides that he will be eligible to receive a single
discretionary performance bonus of up to $500,000.  The amount
of Mr. Usilton's discretionary performance bonus, if any, will
be decided by the Chief Executive Officer and the Board of
Directors or the Compensation Committee of the Board of Directors
in his sole discretion.

In addition, the amendment increases the maximum number of
hours that Mr. Usilton use the company's airplane for business
purposes from 25 to 30 hours per year.

Accordingly, if Mr. Usilton does not use all 30 hours in any given
calendar year, then the company will pay Mr. Usilton a bonus for
the allotted hours not used.

The company further said that the amendment also modifies the
terms of Mr. Usilton's severance arrangement with the company.

Full-text copy of the Amended Employment Agreement is available
for free at http://ResearchArchives.com/t/s?1a08

Headquartered in El Segundo, California, DaVita Inc. (NYSE: DVA)
is a leading provider of dialysis services for patients suffering
from chronic kidney failure.  The Company provides services at
kidney dialysis centers and home peritoneal dialysis programs
domestically in 41 states, as well as Washington, D.C.  As of
March 31, 2006, DaVita operated or managed over 1,200 outpatient
facilities serving approximately 98,000 patients

                          *      *      *

As reported in the Troubled Company Reporter on Feb. 15,
2007, Fitch Ratings assigned a 'B' rating to DaVita Inc.'s
$400 million 6.625% senior unsecured notes due 2013.


DELPHI CORP: Signs Non-Binding Term Sheet with Renco Group
----------------------------------------------------------
Delphi Corporation has signed a non-binding term sheet with The
Renco Group, Inc. for the sale of its Interiors and Closures
business.

This non-binding term sheet signals the initiation of a
comprehensive due diligence period, including consultations with
customers and unions, aimed at the development and execution of a
master sale and purchase agreement.  The sale of Delphi's
Interiors and Closures business is subject to the approval of the
U.S. Bankruptcy Court for the Southern District of New York and
other constituencies in the U.S. and abroad, and waiver of any "no
sale" clause in any union collective bargaining agreements.

Delphi's Interior and Closures business includes products such as
instrument panels, consoles, cockpits, door modules and latch
systems.  The business serves a number of Original Equipment
Manufacturers through a global footprint that includes
manufacturing operations in the United States, Mexico, Austria,
Germany, China and Korea and generates annual revenue of
approximately $1.3 billion.

Details of the negotiations between Delphi and The Renco Group
will remain confidential until a master sale and purchase
agreement has been negotiated, signed and filed with the U.S.
Bankruptcy Court.

Any sale of the Interior and Closures business would be done in
coordination with Delphi's customers, unions and other
stakeholders to carefully manage the transition of the business
and would be subject to the completion of the consultation process
with the relevant works councils in Europe. Also, the disposition
of any U.S. operations would be accomplished in accordance with
the requirements of the U.S. Bankruptcy Court.

                      About The Renco Group

The Renco Group, Inc. is a private diversified investment holdings
company with a broad portfolio of operating companies and
financial investments. Renco holds interests in number of
companies in the mining, automotive, magnesium, steel, metals
fabrication and material handling industries. Operating companies
in which Renco holds an interest include AM General, US Magnesium,
Doe Run Resources, Unarco Material Handling and Baron Drawn Steel.
Renco generates in excess of $3.5 billion in revenue while
employing over 12,000 people worldwide.

                     About Delphi Corporation

Troy, Mich.-based Delphi Corporation (OTC: DPHIQ) --
http://www.delphi.com/-- is the single largest global supplier of  
vehicle electronics, transportation components, integrated systems
and modules, and other electronic technology.  The Company's
technology and products are present in more than 75 million
vehicles on the road worldwide.  The Company filed for chapter 11
protection on Oct. 8, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-
44481).  John Wm. Butler Jr., Esq., John K. Lyons, Esq., and Ron
E. Meisler, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP,
represent the Debtors in their restructuring efforts.  Robert J.
Rosenberg, Esq., Mitchell A. Seider, Esq., and Mark A. Broude,
Esq., at Latham & Watkins LLP, represents the Official Committee
of Unsecured Creditors.  As of Aug. 31, 2005, the Debtors' balance
sheet showed $17,098,734,530 in total assets and $22,166,280,476
in total debts.  The Debtors' exclusive period to file a chapter
11 plan of reorganization expires on July 31, 2007.


DIGICEL LTD: Add-on & Leverage Prompts Moody's Ratings Downgrade
----------------------------------------------------------------
Moody's Investors Service lowered the corporate family rating of
Digicel Limited to B3 from B1, affirmed DL's existing senior
unsecured rating at B3 and assigned a Caa2 rating to the proposed
$1.4 billion Notes Issue of Digicel Group Limited, which is now
the corporate family's ultimate parent.

At the same time, Moody's said it would move the corporate family
rating to Digicel from DL.  Related LGD impacts are noted below.
The outlook is stable.

The effective two notch downgrade of Digicel's corporate family
rating to B3 reflects the plans of the company's controlling
shareholder to recapitalize Digicel's balance sheet, which will
replace approximately $1.2 billion of equity with debt and
modestly strengthen its cash position.  The new capital structure
will essentially double the company's funded debt to $2.8 billion
and increase its initial pro-forma adjusted leverage to roughly
9.5x.

While the initial leverage is high for the B3 rating category and
Moody's expects the company's new market investments to consume
cash over the next couple of years, the rating is supported by
Digicel's leading position as the largest wireless
telecommunications carrier in the Caribbean as well as its
successful track record at gaining significant market share and
producing solid operating results relatively quickly after new
markets are launched.

Moody's believes a continuation of this success is likely, which
may enable Digicel to reduce its adjusted leverage to under 5.5x
and curtail its cash consumptiveness towards the end of fiscal
2009.  The rating, however, also incorporates Moody's perception
that Digicel is increasing its financial risk at the same time as
it looks to higher risk markets such as Haiti for the growth in
its cash flows required to meet the above financial targets.

The stable outlook reflects Moody's opinion that Digicel is likely
to steadily improve its profitability and other key credit metrics
over the next couple of years as it focuses on organic results
rather than acquisitions, but that this improvement is required to
sustain its B3 corporate family rating.

The Caa2 rating of Digicel's new Notes Issue reflects its
subordination to roughly $1.4 billion of funded debt, including
the $450 million B3 rated senior unsecured obligation of DL and
the proposed $850 million senior secured bank facility of its
finance subsidiary.

Ratings Downgraded:

   * Digicel Limited

      -- Corporate Family Rating to B3 from B1
      -- Probability of Default Rating to B3 from B1

Ratings Affirmed:

   * Digicel Limited

      -- $450 million Senior Unsecured Notes at B3, LGD3, 45% from
         LGD5, 79%

Ratings Assigned:

   * Digicel Group Limited

      -- $1.4 billion Senior Unsecured Notes at Caa2, LGD5, 81%

Headquartered in Kinsgton, Jamaica, Digicel is the largest
provider of wireless telecommunication services in the Caribbean.


EMERGE INTERACTIVE: Bankruptcy Filing Prompts Nasdaq Delisting
--------------------------------------------------------------
eMerge Interactive Inc. received a letter dated Feb. 16, 2007,
from The Nasdaq Stock Market, LLC's Listing Qualifications
Department informing the company that, in light of the company's
filing for protection under Chapter 11 of the U.S. Bankruptcy Code
on February 14, 2007, the company's common stock will be delisted
from The Nasdaq Capital Market at the opening of business on Feb.
27, 2007, pursuant to Marketplace Rules 4300 and IM-4300.  The
company does not intend to appeal the delisting determination.

The letter from Nasdaq further indicated that if the company's
common stock is delisted from the Nasdaq's Capital Market, the
company's common stock will not be immediately eligible to trade
on the OTC Bulletin Board or in the "Pink Sheets."  The company's
common stock may become eligible to so trade only if a market
maker makes application to register in and quote the company's
common stock in accordance with SEC Rule 15c2-11 and such
application is cleared. Only a market maker, not the company, may
file a Form 211.

The company has advised the public, and reiterates, that the
likely outcome of the company's Chapter 11 case is the
cancellation of the company's existing common stock for little or
no consideration, in which case the company's common stock would
have little or no value.

                          About eMerge

Headquartered in Sebastian Florida, eMerge Interactive, Inc.
(Nasdaq: EMRG) -- http://www.emergeinteractive.com/-- is a  
technology company focusing on the agricultural and meat
processing industries.  eMerge's products include CattleLog, a
USDA-approved Process Verified Program providing individual-animal
data collection and reporting that enables livestock tracking,
verification and branding; the VerifEYE Carcass Inspection System,
a real-time, optical inspection system that scans beef carcasses
in packing plants; and the Solo handheld inspection unit, a
portable instrument, incorporating the VerifEYE imaging
technology.

The company filed for bankruptcy protection on Feb. 14, 2007
(Bank. S.D. Fla. Case No. 07-10932).  Jimmy D. Parrish, Esq., at
Latham, Shuker, Barker, Eden & Beaudine, LLP, represent the
Debtor.  As of Dec. 31, 2006, the company had assets totaling
$4,463,300 and debts totaling $2,626,988.


ESTERLINE TECH: Commences $150 Million Senior Notes Offering
------------------------------------------------------------
Esterline Technologies disclosed on Feb. 16, 2007, that it is
commencing an offering of $150 million aggregate principal amount
of senior notes.  Esterline anticipates using the net proceeds of
this offering to finance a portion of the acquisition of CMC
Electronics Holdings Inc.

The company reported on Feb. 1, that it entered into an agreement
to acquire CMC Electronics Inc., for approximately $335 million in
cash.

The issuance of the notes is not contingent upon the consummation
of the acquisition of CMC.  If the acquisition of CMC is not
completed, Esterline expects to use the net proceeds from the
offering to reduce outstanding indebtedness and for other general
corporate purposes.

                      About CMC Electronics

Headquartered in Saint-Laurent, Canada, CMC Electronics Inc. --
http://www.cmcelectronics.ca/-- makes military and commercial  
aviation electronics (communication, control, navigation, and
display systems) and custom electronics (hybrid microcircuits and
display products).  CMC also offers instrument repair and
calibration services to customers in a host of industries
including automotive, pharaceutical, medical, and aerospace.  The
company's Marine/Land Electronics division offers products like
GPS, radar, fish finders and other electronics to the commercial
and recreational marine markets.  CMC also owns 9% of high-end GPS
concern NovAtel.

                         About Esterline

Based in Bellevue, Wash. Esterline Technologies Corp. (NYSE: ESL)
-- http://www.esterline.com/-- is a specialized manufacturing  
company principally serving aerospace and defense customers.  The
company designs, manufactures and markets highly engineered
products and systems for application within the industries it
serves.  The company operates in three segments: Avionics and
Controls, Sensors and Systems, and Advanced Materials.  The
company acquired Wallop Defense Systems Limited and FR
Countermeasures on March 24, 2006, and December 23, 2005,
respectively, from Cobham plc.  Wallop and FR Countermeasures are
manufacturers of military pyrotechnic countermeasure devices.  On
Dec. 16, 2005, Esterline acquired Darchem Holdings Limited, a
manufacturer of thermally engineered components for critical
aerospace applications.

                          *     *     *

As reported in the Troubled Company Reporter on Feb. 20, 2007,
Moody's Investors Service has confirmed Esterline's Corporate
Family Rating of Ba2, and has assigned a Ba3 rating to the
company's proposed senior unsecured notes due 2017.  

At the same time, Standard & Poor's Ratings Services assigned its
'BB-' rating to Esterline's proposed $150 million senior unsecured
notes due 2017.


FARMERS' MUTUAL: A.M. Best Says Financial Strength is Fair
----------------------------------------------------------
A.M. Best Co. has affirmed the financial strength rating of B-
(Fair) of The Farmers' Mutual Fire Insurance Company of Dug Hill  
(Manchester, MD).  The outlook has been revised to stable from
negative.

The rating reflects Dug Hill's historically poor operating
performance, previously deteriorating surplus trends and
geographic concentration of risk.  Partially offsetting these
negative rating factors are the company's long standing local
market presence and recent performance improvement initiatives.

Historically, Dug Hill had posted weak operating performance
related to severe weather-related losses and inadequate pricing.  
As a result, surplus decreased considerably in the years prior to
2004.  However, Dug Hill recently has taken action to improve
results, including strict enforcement of underwriting standards
and significant rate increases.  Accordingly, Dug Hill has
improved both risk-adjusted capitalization and operating results.  
The revised outlook is based on A.M. Best's expectation that Dug
Hill will maintain adequate risk-adjusted capitalization in the
near term.

Founded in 1899, A.M. Best Company is a full-service credit rating
organization dedicated to serving the financial services
industries, including the banking and insurance sectors.


FF STATION: Case Summary & Nine Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: F.F. Station, LLC
        127 West Church Street, Suite 350
        Orlando, FL 32801

Bankruptcy Case No.: 07-00575

Type of Business: The Debtor owns and operates a downtown shop,
                  office, entertainment property called Church
                  Street Station.

Chapter 11 Petition Date: February 20, 2007

Court: Middle District of Florida (Orlando)

Debtor's Counsel: Elizabeth A. Green, Esq.
                  Latham Shuker Barker Eden & Beaudine LLP
                  390 North Orange Avenue, Suite 600
                  Orlando, FL 32801
                  Tel: (407) 481-5800
                  Fax: (407) 481-5801

Estimated Assets: $1 Million to $100 Million

Estimated Debts:  $1 Million to $100 Million

Debtor's Nine Largest Unsecured Creditors:

   Entity                        Nature of Claim     Claim Amount
   ------                        ---------------     ------------
German Invest und                Promissory Note       $5,000,000
Finanzberatung, GmbH
Gewerbering
47623 Kevelaer, Germany

Cognisa Security, Inc.                                    $57,891
c/o Robert J. Stovash
Sun Trust Center
200 South Orange Avenue
Suite 1220
Orlando, FL 32801

Gerard A. McHale, Receiver       Court-appointed          Unknown
c/o Michael C. Markham, Esq.     Receiver of Trans
Johnson, Pope, Bokor             Continental Airlines
P.O. Box 1368                    Inc. et al.
Clearwater, FL 33757

Alan Slemmon Armall                                       Unknown

Continental Electric Co.                                  Unknown

Cooper State Bank P.A.                                    Unknown

Gyno-I, Inc.                                              Unknown

Orange County Comptroller                                 Unknown

OUC                                                       Unknown


FORD MOTOR: Expects to Miss February & March "Way Forward" Target
-----------------------------------------------------------------
Ford Motor Co. expects to miss some points in its "Way Forward"
restructuring plan, according to an internal report titled "Report
Card: Ford North America," various news agencies report.

The reports said that although Ford hit the $400 million material
cost savings in January, the company would likely miss its target
for February and March.  Also, Ford missed its U.S. retail sales
goal in January for Focus by 10,600 vehicles.  Ford is also likely
to miss its market share goals for February and March, news
agencies add.

According to the reports, about 15,000 employees were surveyed, of
which about half voted confidence in the restructuring plan,

The "Way Forward" is Ford's restructuring plan that includes
closing plants and laying off up to 45,000 employees.

                       About Ford Motor Co.

Headquartered in Dearborn, Michigan, Ford Motor Co. (NYSE: F) --
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 Dec. 12, 2006,
Standard & Poor's Ratings Services affirmed its 'B' bank loan and
'2' recovery ratings on Ford Motor Co.

As reported in the Troubled Company Reporter on Dec. 7, 2006,
Fitch Ratings downgraded Ford Motor Company's senior unsecured
ratings to 'B-/RR5' from 'B/RR4'.

As reported in the Troubled Company Reporter on Dec. 6, 2006,
Moody's Investors Service assigned a Caa1, LGD4, 62% rating to
Ford Motor Company's $3 billion of senior convertible notes due
2036.


FOUR B: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------
Debtor: Four B Development Corp.
        57 Chickering Road
        Spencer, MA 01562
        Tel: (508) 885-9312

Bankruptcy Case No.: 07-40254

Type of Business: The Debtor constructs golf courses.

Chapter 11 Petition Date: January 23, 2007

Court: District of Massachusetts (Worcester)

Judge: Joel B. Rosenthal

Debtor's Counsel: Kevin C. McGee, Esq.
                  Philip F. Coppinger, Esq.
                  Seder & Chandler LLP
                  339 Main Street
                  Worcester, MA 01608
                  Tel: (508) 757-7721
                  Fax: (508) 831-0955

Estimated Assets: $1 Million to $100 Million

Estimated Debts:  $1 Million to $100 Million

Debtor's 20 Largest Unsecured Creditors:

   Entity                        Nature of Claim   Claim Amount
   ------                        ---------------   ------------
Nixon Peabody LLP                Legal Services        $194,804
100 Summer Street
Boston, MA 02110-2131

Advanta Card                     Credit Card            $26,700
P.O. Box 8088                    Purchases
Philadelphia, PA 19101-2822

Bank of America                  Credit Card            $19,600
P.O. Box 15714                   Purchases
Wilmington, DE 19886-5714

Commonwealth of Massachusetts    Fine                   $13,500

Platinum Plus for Business       Credit Card             $9,200
                                 Purchases

UAP Distribution                 Seed Purchases          $8,153

Travelers                        Insurance               $8,000
                                 Premiums

Capital One Bank                 Credit Card             $7,017
                                 Purchases

Valley Green                     Seed Purchases          $4,515

Bowditch & Dewey LLp             Legal Fees              $4,500

Quick Lease Corp.                Equipment Rent          $4,265

Bisceglia, Steiman & Fudeman     Accounting Fees         $3,000

Anthony Fernandes, Esq.          Legal Fees              $3,000

Yard Card                        Equipment Rent          $2,888

Small Business Bureau            Health Insurance        $2,772
                                 Premiums

Arrow Concrete                   Construction            $2,000
                                 Services

Harold Eaton Association         Engineering Fees        $2,000

Associated Employers             Workman's               $1,390
                                 Compensation
                                 Insurance Premiums

Keith Morris                     Environmental           $1,200
                                 Analysis Services

Internal Revenue Service         Withholding Taxes         $531


FRAZIER DEVELOPMENT: Voluntary Chapter 11 Case Summary
------------------------------------------------------
Debtor: Frazier Development, LLC
        4915 I-55 North
        P.O. Box 2039
        Jackson, MS 39206

Bankruptcy Case No.: 07-00500

Chapter 11 Petition Date: February 16, 2007

Court: Southern District of Mississippi (Jackson Division)

Debtor's Counsel: Craig M. Geno, Esq.
                  Harris Jernigan & Geno, PLLC
                  587 Highland Colony Parkway
                  P.O. Box 3380
                  Ridgeland, MS 39157
                  Tel: (601) 427-0048
                  Fax: (601) 427-0050

Estimated Assets: $1 Million to $100 Million

Estimated Debts:  $1 Million to $100 Million

The Debtor did not file a list of its 20 Largest Unsecured
Creditors.


FRENCH VALLEY: Case Summary & Eight Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: French Valley Commercial Partners, LLC
        29395 Agoura Road, Suite 204
        Agoura Hills, CA 91301

Bankruptcy Case No.: 07-10526

Type of Business: The Debtor is a real estate developer.

Chapter 11 Petition Date: February 20, 2007

Court: Central District Of California (San Fernando Valley)

Judge: Maureen Tighe

Debtor's Counsel: Louis J. Esbin, Esq.
                  Law Offices Of Louis J. Esbin
                  27201 Tourney Road, Suite 122
                  Valencia, CA 91355-1804
                  Tel: (661) 254-5050
                  Fax: (661) 254-5252

Total Assets: $35,060,500

Total Debts:  $16,713,352

Debtor's 8 Largest Unsecured Creditors:

   Entity                        Nature of Claim   Claim Amount
   ------                        ---------------   ------------
Gates & Haas Land Development    Trade debt             $41,375
Services
25020 Las Brisas Road
Murrieta, CA 92562

Jordan, Gilbert & Bain           Trade debt              $9,750
3350 Loma Vista Road
Ventura, CA 93003

TeraCor Resource Management      Trade debt              $6,178
28999 Old Town Front St.
Suite 202
Temecula, CA 92590

Associated Biological            Trade debt              $6,018
& MSHCP Consulting
P.O. Box 4666
Riverside, CA 92514
Attn: Shelly Dayman

Continental Realty Advisors      Trade debt              $6,000
2691 Richter Avenue, Suite 126
Irvine, CA 92606
Attn: Steve Kerhart

Haaland Group, Inc.              Trade debt              $3,030
351 Rolling Oaks Dr., Suite 200
Thousand Oaks, CA 91361
Attn: Kevin Williams

Charles T. Schultz, PC           Trade debt              $1,260
4333 Orange Street, Suite 18
Riverside, CA 92501
Attn: Charles T. Schultz

Matt Liesemeyer                  Trade debt              $1,000
26924 Merced Street
Menifee, CA 92584


GOLF TRUST: Names Principal Accounting Officer After CFO Resigns
----------------------------------------------------------------
Golf Trust of America Inc. disclosed that Scott D. Peters resigned
as Chief Financial Officer and Director of the company effective
Feb. 5, 2007, due to personal reasons related to his obligations
and commitments to another employer.  

On Feb. 6, 2007, the company's Controller, Tracy S. Clifford, was
appointed Principal Accounting Officer.  Ms. Clifford is a
certified public accountant and holds a masters degree in business
administration from Georgia State University.  Ms. Clifford has
served as the company's Controller since October 1999.

Mr. Peters' existing employment agreement, which was due to expire
by its terms on April 30, 2007, was terminated effective Feb. 5,
2007.  Mr. Peters' remaining milestone payment, pursuant to his
existing employment agreement, of approximately $83,000 plus
accrued interest will be paid in the ordinary course.  Mr. Peters
has been Chief Financial Officer of the company since 1997 and has
served as a director since late 1999.  At this time, the company's
Board will not fill the Board seat that Mr. Peters is vacating.

The company continues to operate pursuant to a plan of
liquidation.  The company's liquidation may occur through the sale
of its assets, a merger or otherwise in order to allow it to
maximize value to its stockholders.  In addition, subject to
appropriate shareholder approvals, the company may pursue a
recapitalization.

Headquartered in Charleston, South Carolina, Golf Trust of America
Inc. (AMEX:GTA) -- http://www.golftrust.com/-- was formerly a  
real estate investment trust but is now engaged in the liquidation
of its interests in golf courses in the United States pursuant to
a plan of liquidation approved by its stockholders.  The company
currently owns two properties (6.0 eighteen-hole equivalent golf
courses).  

As of Sept. 30, 2006, the company had $12,493,000 net assets in
liquidation.


GREENMAN TECH: To Hold Annual Stockholders' Meeting on March 29
---------------------------------------------------------------
GreenMan Technologies Inc.'s Annual Shareholders' Meeting will be
held at 11 a.m. on Thursday, March 29, 2007, at the Fairfield Inn,
14350 Nicollet Court, in Burnsville, Minnesota.  

The company intends to mail its proxy statement to shareholders by
the end of February, and is not soliciting any shareholder votes
or proxies at this time.

Based in Lynnfield, Massachusetts, GreenMan Technologies Inc.
(OTCBB: GMTI) -- http://www.greenman.biz/ -- together with its  
subsidiaries, engages in collecting, processing, and marketing
scrap tires in whole, shredded, or granular form in the United
States and Canada.  The company recycles this material into many
interesting and useful applications.

The company markets its products and services through a direct
sales staff.  The company was founded in 1992 and currently
operates processing facilities in Savage, Minnesota, and Des
Moines, Iowa.  The two facilities process nearly 14 million tires
out of the nearly 300 million scrap tires created in the U.S. each
year.

As of Dec. 31, 2006, Greenman Technologies Inc.'s balance sheet
showed $9.3 million in total assets and $20.7 million in total
liabilities, resulting in an $11.4 million total stockholders'
deficit.

The company's balance sheet at Dec. 31, 2006, also showed strained
liquidity with $3.3 million in total current assets available to
pay $7.3 million in total current liabilities.


HOLLY MARINE: Court Approves Bauch & Michaels as Counsel
--------------------------------------------------------
The Honorable Susan Pierson Sonderby of the U.S. Bankruptcy Court
for the Northern District of Illinois gave Holly Marine Towing
Inc. permission to employ Bauch & Michaels LLC as its counsel.

The firm is expected to:

     a) render legal advice with respect to the power and duties
        of the Debtor to continue to operate its business and
        manage its properties as debtor in possession;

     b) negotiate, prepare, and file a plan or plans of
        reorganization and disclosure statements in connection
        with the plans, and otherwise promote the financial
        reorganization of the Debtor;

     c) take all necessary action to protect and preserve the
        estate of the Debtor, including the prosecution of actions
        on the Debtor's behalf, the defense of any actions
        commenced against the Debtor, negotiations concerning all
        litigation in which the Debtor is or becomes involved, and
        the evaluation and objection to claims filed against the
        estate;

     d) prepare, on behalf of the Debtor, all necessary
        applications, motions, answers, orders, and papers in
        connection with the administration of the estate herein,
        and appear on behalf of the Debtor at all Court hearings
        in connection with the Debtor's case; and

     e) render legal advice and perform all other legal services
        in connection with the foregoing and in connection with
        the Debtor's chapter 11 case.

The Debtor paid Bauch & Michaels a $20,000 retainer.  Paul M.
Bauch, Esq., Kenneth A. Michaels, Jr., Esq., and Carolina Y.
Sales, Esq., are the firm's professionals who will be performing
services for this engagement.

Mr. Bauch charges the Debtor $375 per hour for his services, while
Mr. Michaels and Ms. Sales charge an hourly rate of $350 and $175
respectively.

The firm's other professionals and their billing rates are:

     Designation                   Hourly Rate
     -----------                   -----------
     Attorneys & Partners           $350-$375
     Associates                     $125-$225
     Paralegals                      $60-$125
     
Mr. Bauch assures the Court that his firm is a "disinterested
person" as the term is defined in Section 101(14) of the
Bankruptcy Code.

Mr. Bauch can be reached at:

     Paul M. Bauch, Esq.
     Bauch & Michaels LLC
     53 W. Jackson Blvd., 1115 Suite
     Chicago, Illinois 60604
     Tel: (312) 588-5000
     Fax: (312) 427-5709
     http://www.bauch-michaels.com/

Headquartered in Chicago, Illinois, Holly Marine Towing Inc.
provides towing and tugboat services.  The company filed for
Chapter 11 protection on Jan. 8, 2007 (Bankr. N.D. Il. Case
No. 07-00266).  Paul M. Bauch, Esq., at Bauch & Michaels LLC,
represent the Debtor in its restructuring efforts.  No Official
Committee of Unsecured Creditors has been appointed in the
Debtor's case.  When the Debtor filed for protection from its
creditors, it estimated assets and debts of more than
$100 million.


HOLLY MARINE: Gets Initial Approval to Use Cash Collateral
----------------------------------------------------------
The Honorable Susan P. Sonderby of the U.S. Bankruptcy Court
for the Northern District of Illinois authorized, on an interim
basis, Holly Marine Towing Inc. to use FC Capital Corp., Internal
Revenue Service, and the State of Illinois' cash collateral.

The Debtor is a party to various financing agreements dated as of
March 12, 2004, with FC Capital, as assignee of Fifth-Third Bank
as lender, and Holly Headland as guarantor.  

In addition, the Debtor's property is subject to a number of
federal and state tax lines, which vary as to amount and dates of
priority.

The Debtor said there is approximately $550,000 of cash collateral
available for use, which consists of $50,000 cash and $500,000
current accounts.

The Debtor needs to use cash collateral to fund their operations
for an interim period pending final hearing on a cash collateral
order.

As adequate protection, FC Capital, IRS, and the state of Illinois
are secured by a replacement lien upon the Debtor's postpetition
accounts in an amount equal to the cash collateral used.

FC Capital, IRS, and the State of Illinois assert that their
claims are secured by substantially all of the Debtor's assets.  

As of the Debtor's bankruptcy filing, the Debtor estimates the
collateral value at $5,700,000.  The Debtor tells the Court that
FC Capital's claim is estimated at approximately $2,500,000.

Headquartered in Chicago, Illinois, Holly Marine Towing Inc.
provides towing and tugboat services.  The company filed for
Chapter 11 protection on Jan. 8, 2007 (Bankr. N.D. Il. Case
No. 07-00266).  Paul M. Bauch, Esq., at Bauch & Michaels LLC,
represent the Debtor in its restructuring efforts.  No Official
Committee of Unsecured Creditors has been appointed in the
Debtor's case.  When the Debtor filed for protection from its
creditors, it estimated assets and debts of more than
$100 million.


HUDSON HIGHLAND: Gets New Leaders for Australia/New Zealand Branch
------------------------------------------------------------------
Hudson Highland Group Inc. disclosed several senior management
changes in the company's Australia and New Zealand business.  
Helen Nugent AO took on the expanded role of executive chairman
and Andrew Staite assumed the role of managing director of
Hudson's Australian and New Zealand business.

As a senior Australian company director who has served as chairman
for the past year, Helen has business experience to her enhanced
part-time role.  Andrew's promotion to managing director followed
a 10-year career at Hudson where he served as executive general
manager for Australia.  Don Bielinski continued in his current
role as chairman, Hudson Asia Pacific.

In addition, Elaine Kloss has been seconded from Hudson Highland
Group's New York corporate headquarters to act as chief financial
officer.
    
The company stated that the services of Anne Hatton and Richard
Pepper, previous Hudson Australia/New Zealand president and chief
financial officer, were terminated because they had violated the
company's code of conduct.  The misconduct concerned breaches of
their fiduciary and employment obligations as senior executives
well as deliberate non-disclosure of a conflict of interest.
   
"Once Hudson learned of and confirmed their involvement in a
business proposal that was contrary to shareholder interests, and
those of the Australian and New Zealand operations and their
staff, swift termination of their employment was imperative," Jon
Chait, Hudson Highland Group chairman and chief executive officer,
said.
   
"The new management team had a major influence in driving the
region's performance and improving profitability," Chait added.
"Hudson was confident that they will continue to drive solid
results for the business."
    
                       About Hudson Highland

Headquartered in New York, New York, Hudson Highland Group, Inc.
(Nasdaq: HHGP)-- http://www.hhgroup.com/-- is a provider of  
permanent recruitment, contract professionals and talent
management services worldwide.  From single placements to total
outsourced solutions, Hudson helps clients achieve greater
organizational performance by assessing, recruiting, developing
and engaging the best and brightest people for their businesses.
The company employs more than 3,600 professionals serving clients
and candidates in more than 20 countries.

                          *     *     *

As reported in the Troubled Company Reporter on Nov. 7, 2006,
Moody's Investors Service assigned a Ba2 rating to the company's
$7,500,000 Income Notes Due 2042.


I2 TECHNOLOGIES: Dec. 31 Balance Sheet Upside Down by $25 Million
-----------------------------------------------------------------
i2 Technologies Inc.'s balance sheet for the quarter ended
Dec. 31, 2006, showed total assets of $190,069,000, total
liabilities of $215,407,000, and a stockholders' deficit of
$25,338,000, compared to $202,445,000 in total assets,
$273,099,000 in total liabilities, and a stockholders' deficit of
$70,654,000 at Dec. 31, 2005.

The company also showed an accumulated deficit of $10,571,688,000
at Dec. 31, 2006, compared to $10,592,964,000 at Dec. 31, 2005.

The company reported fourth quarter 2006 net income applicable to
common stockholders of $14.3 million.  This compares to
$34.2 million in income from continuing operations, including
preferred stock dividend and accretion of discount, in the fourth
quarter of 2005.

Total revenue for the fourth quarter was $79.6 million as compared
to $96.6 million in the fourth quarter of 2005.  Total revenue
included contract revenue of $4 million and $23.2 million in the
fourth quarters of 2006 and 2005, respectively.  Excluding the
impact of contract revenue, operating revenue was $75.6 million as
compared to $73.4 million in the fourth quarter of 2005, growth of
3% year-over-year.

i2 had total fourth quarter software solutions revenue, which
includes core license revenue, recurring license revenue as well
as fees received to develop the licensed functionality, of
$23.4 million.  Software solutions revenue grew 2 percent compared
to $23 million in the year-ago quarter.  Recurring license revenue
in the fourth quarter 2006 includes approximately $5.2 million
related to platform technology bookings recorded in the second
quarter of 2006.

Services revenue in the fourth quarter was $29.5 million, an
increase of 16% from the $25.4 million of services revenue in the
fourth quarter of 2005.  Services revenue includes fees received
from arrangements to customize or enhance previously purchased
licensed software.  Services revenue also includes reimbursable
expenses.

Fourth quarter maintenance revenue was $22.7 million, a decrease
of 9% from $25 million in the year ago quarter.

                    Fiscal Year 2006 Results

Total revenues for 2006 were $279.7 million as compared to
$336.9 million for 2005.  Total revenue included contract revenue
of $4.1 million and $42.5 million in 2006 and 2005, respectively.
Excluding the impact of contract revenue, operating revenue was
$275.6 million for 2006 as compared to $294.3 million in 2005, a
decline of 6% year-over-year.

Software solutions revenue decreased 15% to $76.2 million in 2006
compared to $89.9 million in 2005.  Services revenue was
$106.5 million in 2006 compared to $103.8 million in 2005, an
increase of 3 percent.  Maintenance revenue decreased 8 percent to
$92.8 million in 2006 compared to $100.6 million in 2005.

Total costs and expenses for 2006 declined 11 percent to
$250.3 million as compared to $281.5 million in 2005.  During 2006
the company incurred $17.4 million in non-operating legal
expenses, including the $2.5 million settlement amount with Mr.
Brady mentioned above, and $15.4 million in stock option expense.

The company reported net income applicable to common stockholders
of $21.3 million for 2006.  This compares to $40.4 million or
$1.65 per diluted share in income from continuing operations,
including preferred stock dividend and accretion of discount, in
2005.

                     Full Year 2007 Outlook

In 2007, the company expects to increase bookings and operating
revenue by continuing its investments in sales, marketing and
services.  Given the costs associated with such investments,
profitability in the first half of 2007 is likely to be reasonably
comparable to the first half of 2006.  The company anticipates
that profitability will increase from that level in the second
half of 2007.

The company expects to generate positive cash flow from operations
for the full year 2007.  However, in the first quarter of 2007,
the company expects to experience negative cash flow from
operations at a level comparable to or worse than the $7.9 million
negative cash flow experienced in the first quarter of 2006.  This
is primarily due to expected cash outlays associated with non-
operating legal expenses accrued in the fourth quarter of 2006
(which includes the aforementioned settlement agreement payment of
$2.5 million) as well as annual and semi-annual employee-related
incentive and commission payments.

                     About i2 Technologies

Based in Dallas, Texas, i2 Technologies, Inc. (NASDAQ: ITWO) --
http://www.i2.com/-- provides supply chain management software  
solutions, including various supply chain software and service
offerings.  The goals of the company's solutions include
increasing supply chain efficiency and enhancing customer and
supplier relationships by managing variability, reducing
complexity, improving operational visibility, increasing operating
velocity and integrating planning and execution.  The company's
offerings help customers maximize efficiency in relation to
sourcing, supply, demand, fulfillment and logistics performance.


IMAX CORPORATION: Inks Amended Employment Agreements with Co-CEOs
-----------------------------------------------------------------
IMAX Corp. entered into separate amended employment agreements
with Richard L. Gelfond and Bradley J. Wechsler, the company's Co-
Chief Executive Officers.  

Under the Agreements, the company said that the executives will
be entitled to be paid base salary at the rate of $500,000 per
year, plus a bonus of up to two times salary.

However, bonuses will be at the discretion of the Board of
Directors and will be based upon the success of the company
in achieving the goals and objectives set by the Board after
consultation with the executives.

The Executives will be considered for a bonus based upon
performance during the year ending Dec. 31, 2007.  If the
executives' employment is terminated without cause prior to
the end of the term, the executive shall be entitled to no
less than a pro-rata portion of their median bonus target.

Additionally, the term of the agreement is extended until
Dec. 31, 2007.

Full-text copies of the Amended Employment Agreements are
available at no charge at http://ResearchArchives.com/t/s?1a07

Headquartered jointly in New York City and Toronto, Canada,
IMAX Corporation -- http://www.imax.com/-- is an entertainment   
technology company, which emphasizes on film and digital
imaging technologies, including 3D, post-production, and digital
projection.  IMAX also designs and manufactures cameras,
projectors and consistently commits funds to ongoing research
and development.

                          *     *     *

As reported in the Troubled Company Reporter on Oct. 3, 2006,
Moody's Investors Service confirmed IMAX Corp.'s B3 Corporate
Family Rating.


INDIAN NATION: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Indian Nation, LLC
        dba CRS Management Group, LLC
        3143 North 32nd Street
        Muskogee, OK 74401

Bankruptcy Case No.: 07-80143

Type of Business: The Debtor owns and operates cemeteries.

Chapter 11 Petition Date: February 15, 2007

Court: Eastern District of Oklahoma (Okmulgee)

Judge: Terrence L. Michael

Debtor's Counsel: James C. Linger, Esq.
                  James C. Linger Law Offices
                  1710 South Boston Avenue
                  Tulsa, OK 74119
                  Tel: (918) 585-2797

Estimated Assets: $1 Million to $100 Million

Estimated Debts:  $1 Million to $100 Million

Debtor's 20 Largest Unsecured Creditors:

   Entity                     Nature of Claim       Claim Amount
   ------                     ---------------       ------------
Matthews International        Trade Creditor -          $597,702
1315 West Liberty Avenue      Bronze Markers
Pittsburgh, PA 15226

InstaFloral, LLC              Trade Vendor -            $114,364
907 Magnolia Avenue           Flowers
Royal Oak, MI 48073

Apartment Services            Trade Creditor            $104,322
34600 Glendale
Livonia, MI 48150

Bay Monument Company          Trade Creditor -           $78,386
                              Monuments

Miller, Canfield, Paddock &   Legal Fees                 $50,847
Stone

Wilbee                        Trade Creditor             $34,985

Cincinnati Time Systems       Trade Creditor             $32,443

Tribute Precast Systems       Trade Creditor             $21,635

American Vault                Trade Creditor             $20,000

RKA Petroleum Cos. Inc.       Trade Creditor -           $15,043
                              Petroleum Products

Brandt Construction Company   Trade Creditor             $14,600

Wings of Distinction          Trade Creditor              $14,505

Finn, Dixon & Herling         Professional Services      $13,744

LDMI Telecommunications       Telephone Service          $13,744

Vantage Products Corporation  Trade Creditor             $12,480

Office Express                Trade Debt                 $11,305

Board of Water                Utilities -                 $7,745
                              Water

DTE Energy                    Utilities - Gas             $7,030

Arrow Uniform                 Trade Creditor -            $6,653
                              Uniforms

Floral Solutions              Trade Creditor -            $5,719
                              Flowers


ION MEDIA: Has Enough Liquidity; Chapter 11 Not Possible
--------------------------------------------------------
ION Media Networks Inc. disclosed Tuesday information related to
the progress on various aspects of its recapitalization.

The company says that it is also disclosing the information in
part to correct inaccuracies in recent press reports from sources
not known to and not authorized by the Company.

                       Permitted Transferee

On Friday, Feb. 16, 2007, the company's Board of Directors
approved an affiliate of Citadel Limited Partnership as a
"permitted transferee" of NBC Universal Inc.'s right to acquire
majority voting control of the Company's common stock, as
contemplated by the agreements entered into in November 2005 among
the company, NBCU and Lowell W. Paxson.  The will permit NBCU to
transfer the Call Right to Citadel without the need for any
further Company approval, should NBCU elect to do so.

                        Alternative Proposal

In addition to the previously disclosed restructuring proposal
received by the company from Citadel Limited and NBC Universal, on
Jan. 17, 2007, the company has received an alternative
restructuring proposal from an "ad hoc" group which purports to
represent holders of more than 65% of its 13-1/4% preferred stock.  
It is the Company's understanding that Citadel, the largest
13-1/4% stockholder, is not part of this group.

A full-text copy of the proposal is available for free at:

             http://ResearchArchives.com/t/s?1a16

The company's Board of Directors and its legal and financial
advisors are carefully evaluating the proposals the company has
received, as well as other restructuring alternatives that may be
available to the company.  Neither of the proposals is binding on
the company, and the transactions contemplated by the proposals
would be subject to numerous conditions, risks and uncertainties.
There is no assurance that either proposal will be approved by the
company's Board of Directors.

                     Chapter 11 Not Possible

The company notes that although the Ad Hoc Group Proposal refers
to the use of Chapter 11 as one means to implement the
recapitalization transactions contemplated by that Proposal, the
company does not face any liquidity issues that would compel it to
resort to a Chapter 11 filing given that its debt obligations are
being fully serviced and do not mature until 2012, it can elect on
a quarterly basis to defer interest payments on over a third of
its debt, and its debt covenants permit it to borrow another
$650 million for general corporate purposes.

The company's preferred stockholders are not creditors and cannot
compel the company to take this course of action.

The Company's non-redemption of the 13-1/4% and 9-3/4% preferred
stock at their scheduled redemption dates entitles the holders of
each class, as their sole remedy under the terms of the preferred
stock, to add two members to the company's Board of Directors.

The company is cooperating to implement these board appointments
expeditiously, subject to receipt from each class of preferred
stockholders of the information necessary to enable the company to
assure that under FCC ownership regulations, these appointments
will not adversely affect the Company or its assets, including its
FCC licenses.

                         About ION Media

ION Media Networks Inc. (AMEX: ION) -- http://www.ionmedia.tv/--  
owns and operates a broadcast television station group and ION
Television, reaching over 90 million U.S. television households
via its nationwide broadcast television, cable and satellite
distribution systems.  ION Television currently features popular
television series and movies from the award-winning libraries of
Warner Bros., Sony Pictures Television, CBS Television and NBC
Universal.  In addition, the network has partnered with RHI
Entertainment, which owns over 4,000 hours of acclaimed television
content, to provide high-quality primetime programming beginning
July 2007.  Utilizing its digital multicasting capability, ION
Media Networks has launched several new digital TV brands,
including qubo, a television and multimedia network for children
formed in partnership with Scholastic, Corus Entertainment,
Classic Media and NBC Universal, as well as ION Life, a television
and multimedia network dedicated to health and wellness for
consumers and families.

                          *     *     *

As reported in the Troubled Company Reporter on Oct 4, 2006,
Moody's Investors Service's affirmed the company's B3 corporate
credit rating.


JAMES WHITE: Case Summary & 19 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: James Alan White
        2331 Westwood Boulevard No. 101
        Los Angeles, CA 90064

Bankruptcy Case No.: 07-11288

Type of Business: The Debtor is a dentist.

Chapter 11 Petition Date: February 20, 2007

Court: Central District Of California (Los Angeles)

Judge: Richard M. Neiter

Debtor's Counsel: Michael Jay Berger, Esq.
                  Law Office of Michael Jay Berger
                  9454 Wilshire Boulevard, 6th Floor
                  Beverly Hills, CA 90212-2929
                  Tel: (310) 271-6223
                  Fax: (310) 271-9805

Estimated Assets: $1 Million to $100 Million

Estimated Debts:  $1 Million to $100 Million

Debtor's 19 Largest Unsecured Creditors:

   Entity                        Nature of Claim   Claim Amount
   ------                        ---------------   ------------
Profit Sharing Plan of James     Loan                  $682,000
Alan White, DDS, Inc.
104 West Seventh Street
Los Angeles, CA 9006

Hugh John Gibson, Esq.           Legal Fees            $180,710
9107 Wilshire Boulevard
Beverly Hills, CA 90210

JB Dental Supply Co. Inc.        Adversary Proceeding  $162,000
c/o Martin J. Brill, Levene LLP
10250 Constellation Boulevard
Suite 1700
Los Angeles, CA 90067

Island Dental Supply Co. Inc.    Dental Supplies       $150,511
General Post Office
P.O. Box 27766
New York, NY 10087

Jaffe & Asher LLP                Collection Agency      $75,024
                                 for American
                                 Express

White Zuckerman                  Accounting Fees        $44,198

Henry Schein                     Dental Supplies        $34,353

Grant R. Nakagawa                Loan                   $28,000

Blue Cross of California         Medical Insurance      $26,340

Safeco Insurance                 Property Insurance     $25,732

Hargrave & Hargrave              Accounting Fees        $13,253

Dent-Like Laboratory             Dental Laboratory      $11,286

Capital One                      Loan                   $10,000

                                 Credit Card             $5,311

LAG Dental Equipment Service     Repair Service          $8,823

Brandi Dental Laboratory Inc.    Laboratory Fees         $7,735

Discus Dental Inc.               Dental Supplies         $6,116

Delimetin & Delimetin            Collection Agency       $5,527
                                 for Sonicare Canoga

Employers Insurance Group        Employee Insurance      $4,187

Dentsply Endodontics             Dental Supplies         $4,164


KNOLOGY INC: Taps Credit Suisse to Syndicate Loan for Buyout Plan
-----------------------------------------------------------------
Knology Inc. has engaged Credit Suisse Securities LLC to arrange
and syndicate a new Senior Secured Credit Facility to finance its
acquisition of PrairieWave Communications and refinance its
existing First and Second Lien Term Loans.  The proposed
transaction includes new $580 million Senior Secured Credit
Facilities, consisting of a new $25 million Revolving Credit
Facility and a new $555 million Term Facility.

PrairieWave is a voice, video and high-speed Internet broadband
services provider.

Knology will use $255 million of proceeds from the Transaction to
fund the purchase of PrairieWave.  The company will use the
remainder of the proceeds to repay the existing First and Second
Lien Term Loans as well as any associated fees and expenses.

Based in West Point, Georgia, Knology Inc. (NASDAQ-GM: KNOL)
-- http://www.knology.com/--- provides interactive communications  
and entertainment services in the Southeast.  Knology serves both
residential and business customers with one of the most
technologically advanced broadband networks in the country.  
Innovative offerings include over 200 channels of digital cable
TV, local and long distance digital telephone service with the
latest enhanced voice messaging features, and high-speed Internet
access, which enables consumers to quickly download video, audio
and graphic files using a cable modem.

Knology's fiber-based business products include Passive Optical
Network (PON), which supplies IP architecture with segmented voice
and data bandwidth, and Managed Integrated Network Solutions
(MATRIX), an integrated IP-based technology which converges data
and voice.

                          *     *     *

As reported in the Troubled Company Reporter on Feb. 19, 2007,
Moody's Investors Service affirmed Knology's B2 corporate family
rating, changed the probability of default rating to B3 and
changed the outlook to stable from developing following the
proposed financing for its $255 million cash acquisition of
PrairieWave.


LAMINATE STORE: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: The Laminate Store International, Inc.
        P.O. Box 1140
        Mount Airy, MD 21771

Bankruptcy Case No.: 07-01294

Type of Business: The Debtor manufactures and sells a variety of
                  laminate flooring, moldings, underlayments,
                  tracks and accessories, and also provides
                  flooring installation services.
                  See http://www.thelaminatestore.com/

Chapter 11 Petition Date: February 20, 2007

Court: Middle District of Florida (Tampa)

Judge: Catherine Peek McEwen

Debtor's Counsel: Bernard J. Morse, Esq.
                  Morse & Gomez P.A.
                  119 South Dakota Avenue
                  Tampa, FL 33606
                  Tel: (813) 301-1000
                  Fax: (813) 301-1001

Estimated Assets: $1 Million to $100 Million

Estimated Debts:  $1 Million to $100 Million

Debtor's 20 Largest Unsecured Creditors:

   Entity                              Claim Amount
   ------                              ------------
Kronospan AG                               $577,680
Willisauerstrassee 37
CH-6122 Menznau

ADVO, Inc.                                 $420,778
P.O. Box 32036
Hartford, CT 01650

Foam Products Corp.                        $353,368
117 Towne Lake Drive
Calhoun, GA 30701

Valpak of Tampa/St. Pete                   $308,547
8605 Largo Lakes Drive
Largo, FL 33773

Florida Times Union                        $292,588
P.O. Box 45008
Dept. Adv-LDR
Jacksonville, FL 32232

The Orlando Sentinel                       $243,183

Los Angeles Times                          $216,002

Smart Shopper                              $199,287

Sun Sentinel                               $166,178

Media General Florida                      $157,724

Money Mailer of Boca Raton                 $139,735

Miami Herald                               $125,608

Clipper Magazine                           $100,630

Dallas Morning News                         $93,256

Houston Chronicle                           $90,109

Bradford Management Co.                     $75,964

ProLogis Management                         $69,626

Exel Transportation Service                 $61,600

Providence Day St. LLC                      $48,068

Atlanta Journal Constitution                $33,833


LEVI STRAUSS: Earns $239 million in Fiscal Year Ended November 26
-----------------------------------------------------------------
Levi Strauss & Co. reported $239 million of net income on
$4.19 billion of net revenues for the fiscal year ended
Nov. 26, 2006, compared with $156 million of net income on
$4.22 billion of net revenues in fiscal 2005.  

The increase in net income was primarily due to a $29 million
benefit plan curtailment gain in the third quarter, lower losses
on early extinguishment of debt, and lower income tax and interest
expense.  The effective tax rate for 2006 was 30.8% compared to
44.8% for 2005, driven by a $32 million benefit resulting from a
modification of the ownership structure of certain of the
company's foreign subsidiaries in the second quarter of 2006 and a
$29 million net reversal of valuation allowances in certain
jurisdictions in the fourth quarter of fiscal 2006.

Stable net revenue reflects higher net revenues in the U.S.
Levi's(R), U.S. Dockers(R) and Asia Pacific businesses, offset by
lower net revenues in the Europe and U.S. Levi Strauss SignatureR)
businesses and currency translation.

For the fourth quarter of fiscal 2006, Levi Strauss & Co. reported
$96 million of net income on $1.24 billion of net revenues,
compared with $44 million of net income on $1.19 billion of net
revenues in the same period of fiscal 2005.  The improvement was
driven primarily by higher operating income and lower tax expense.

"Our fourth-quarter performance was encouraging, with net revenue
growth in each of our three regions," said John Anderson, chief
executive officer.  "For the full year, we delivered stable
revenues and strong profits, and paid down debt.  The year ended
with improved performance in virtually all of our business units.
I am pleased with our positive momentum heading into 2007."

Selling, general and administrative expenses decreased 2 percent
or $33 million to $1.3 billion for fiscal 2006 compared to the
prior year.  The decrease reflects reduced advertising and
promotion expense and the $29 million curtailment gain, partially
offset by costs related to new company-operated retail stores.

Operating income increased $24 million to $614 million compared to
$589 million in fiscal 2005.  The increase was driven primarily by
lower selling, general and administrative expenses.  The operating
margin for fiscal 2006 was 14.6 percent compared to 13.9 percent
in fiscal 2005.

Interest expense for the year decreased $13 million to
$251 million compared to $264 million in fiscal 2005.  The
decrease was primarily attributable to lower debt levels and lower
average interest rates in fiscal 2006.

Strong cash flow in 2006 is attributable to lower income tax
payments, improved working capital management, and lower
restructuring and interest payments.

"We accomplished our objectives for 2006," said Hans Ploos van
Amstel, chief financial officer.  "We ended the year with revenues
growing, and we sustained our strong margins while increasing our
investments in our brands, retail expansion and SAP.  We also
delivered strong cash flow, which is a key priority for us.  For
2007, we expect to continue our strong profits and cash flow and,
at minimum, achieve revenue stability."

At Nov. 26, 2006, the company's balance sheet showed $2.8 billion
in total assets and $3.8 billion in total liabilities, resulting
in a $1 billion total stockholders' deficit.

Full-text copies of the company's consolidated financial
statements for the fiscal year ended Nov. 26, 2006, are available
for free at http://researcharchives.com/t/s?1a02

                          About Levi Strauss

Founded in 1853 by Bavarian immigrant Levi Strauss, Levi Strauss &
Co. -- http://www.levistrauss.com/-- is one of the world's  
largest brand-name apparel marketers with sales in more than 110
countries.  The company market-leading apparel products are sold
under the Levi's(R), Dockers(R) and Levi Strauss Signature(R)
brands.

Levi Strauss & Co. is privately held by descendants of the family
of Levi Strauss.  Shares of company stock are not publicly traded.
Shares of Levi Strauss Japan K.K., the company's Japanese
affiliate, are publicly traded in Japan.

The company employs a staff of approximately 10,000 worldwide,
including approximately 1,010 at the company's San Francisco,
California headquarters.

                          *     *     *

As reported in the Troubled Company Reporter on Oct. 10, 2006,
Moody's Investors Service affirmed its B2 Corporate Family Rating
for Levi Strauss & Co. and its B3 rating on the company's various
unsecured notes.  Additionally, Moody's assigned an LGD5 rating to
those bonds, suggesting noteholders will experience a 59% loss in
the event of a default.


MARK STEINMETZ: Case Summary & 13 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Mark Alan Steinmetz
        Karen McNeil Steinmetz
        15 Hickory Hollow Court
        Greenville, SC 29607-5812

Bankruptcy Case No.: 07-00628

Chapter 11 Petition Date: February 5, 2007

Court: District of South Carolina (Spartanburg)

Judge: Helen E. Burris

Debtor's Counsel: Robert H. Cooper, Esq.
                  The Cooper Law Firm
                  3523 Pelham Road, Suite B
                  Greenville, SC 29615
                  Tel: (864) 271-9911
                  Fax: (864) 232-5236

Estimated Assets: $1 Million to $100 Million

Estimated Debts:  $1 Million to $100 Million

Debtor's 13 Largest Unsecured Creditors:

   Entity                        Nature of Claim     Claim Amount
   ------                        ---------------     ------------
Grandsouth Bank                  Possible Personal     $1,500,000
c/o Roe Cassidy Coates Price     Guaranty for
P.O. Box 10529                   Business Debt
Greenville, SC 29603

Steeple Construction of          Possible Personal       $475,089
South Carolina Inc.              Guaranty for
c/o Pfeiffer Gantt and           Business Debt
Gleaton P.A.
200A South Main Street
Greenville, SC 29601

Grandsouth Bank                  Business Debt           $455,000
c/o Roe Cassidy Coates Price     Personal Guarantee
P.O. Box 10529
Greenville, SC 29603

Blue Ridge Savings               Business Debt           $150,000
P.O. Box 6249                    Personal Guarantee
Asheville, NC 28816

Economy Drywall Inc.             Business Debt           $121,775
c/o Ashmore Leaphart             Personal Guarantee
Rabon & Hinds
601 East McBee Avenue
Suite 200
Greenville, SC 29601

Citi Mortgage                    15 Hickory              $115,000
                                 Hollow Court

Dixie Lumber Co., Inc.           Business Debt            $64,461
                                 Personal Guarantee

Sareault Plumbing                Business Debt            $55,640
                                 Personal Guarantee

Crosby Mechanical                Business Debt            $24,045
                                 Personal Guarantee

Hendrix & Sons Construction LLC  Business Debt            $11,588
                                 Personal Guarantee

Macy's                           Unsecured Credit Card     $6,512

Starr Resources Inc.             Business Debt             $4,100
                                 Personal Guarantee

Sprint                           Business Debt               $473
                                 Personal Guarantee


MILLIPORE CORP: Earns $97 Million in Year Ended December 31, 2006
-----------------------------------------------------------------
In its annual and quarterly financial statements for period ended
Dec. 31, 2006, Millipore Corp. reported $97 million of net income
on $1.3 billion of net sales for the year ended Dec. 31, 2006,
compared to a net income of $80.2 million on net sales of
$991 million for 2005.

Millipore Corp. also earned $18.5 million in net income on net
sales of $383 million for the three-month period ended
Dec. 31, 2006, compared to net income of $1.1 million on net sales
of $256 million in the same prior year period.

Changes in foreign exchange rates during the quarter increased
total revenue growth by 4 percent.  Excluding currency rate
changes and revenues from the company's acquisition of
Serologicals, Millipore's total revenue growth in the fourth
quarter was 9%, which included 12% growth in its Bioscience
Division and 7% growth in its Bioprocess Division.

For the full year, revenues grew 27% totaling $1.26 billion.
Changes in foreign exchange rates increased total revenue growth
by 1% during 2006.  Excluding currency rate changes and revenues
from the company's acquisition, the company's total revenue growth
in 2006 was 11%.  This performance included 10% growth from
Millipore's Bioscience Division and 12% growth from its Bioprocess
Division.

"For the second year in a row we generated attractive revenue and
earnings growth," said Martin Madaus, Chairman & CEO of Millipore.  
"The transformational changes we have implemented are driving
higher-levels of performance throughout the organization and we
have greatly expanded our future market opportunities through the
acquisitions we completed in 2006.  In the last two years, we have
significantly improved our execution and increased the growth of
both of our divisions, particularly our Bioscience Division which
has doubled its adjusted currency growth rate since 2004.  I am
very proud of our employees who have delivered these great
results, even while acquiring and integrating four companies
during this time."

"In 2006, we successfully executed on several initiatives to
increase our profitability, which enabled us to grow our non-GAAP
earnings per share by 18%.  These initiatives included reducing
our manufacturing costs and increasing the efficiency of our
supply chain, driving increased leverage from our SG&A
investments, and completing accretive acquisitions.  As we move
forward, we expect the balanced growth profile between both
divisions will enable us to maximize our growth and profitability.  
Our focus this year will be on driving returns and generating cash
flow from the substantial investments we made in 2006."

                         About Millipore

Based in Billerica, Massachusetts, Millipore Corporation
(NYSE:MIL) -- http://www.millipore.com/-- is a provider of  
products and services that improve productivity in
biopharmaceutical manufacturing and in clinical, analytical and
research laboratories.  The company is organized in two operating
divisions.  Its Bioprocess Division enables pharmaceutical and
biotechnology companies to optimize their manufacturing
productivity, ensure the quality of drugs, and scale up the
production of difficult-to-manufacture biologics.  Its Bioscience
division helps to optimize laboratory productivity and workflows
by providing reagents, kits and other enabling technologies and
products for life science research and development.

                          *     *     *

As reported in the Troubled Company Reporter on Oct. 12, 2006,
Moody's Investors Service confirmed its Ba1 Corporate Family
Rating for Millipore Corp., in connection with the implementation
of its new Probability-of-Default and Loss-Given-Default rating
methodology.  Additionally, Moody's held its Ba2 rating on the
company's unsecured notes due 2007, and assigned an LGD5 rating to
those notes, suggesting noteholders will experience a 72% loss in
the event of a default.


MIRANT CORP: Mirant NY-Gen Files Chapter 11 Plan of Reorganization
------------------------------------------------------------------
Mirant NY-Gen LLC, an affiliate of Mirant Corp., delivered its
Chapter 11 Plan of Reorganization to the U.S. Bankruptcy Court for
the Northern District of Texas on Feb. 15, 2007.

Under the Plan, all Claims against Mirant NY-Gen, other than
Administrative Expenses, Tax Claims, and the DIP Secured Claims,
are grouped into six separate classes:

    Class    Type
    -----    ----
      1      Priority Claims (except Tax Claims)
      2      Secured Tax Claims
      3      Other Secured Claims
      4      General Unsecured Claims
      5      Affiliates Unsecured Claims
      6      Membership Interest

Classes 1 and 6 are unimpaired under the Plan and are deemed to
have accepted the Plan.  Classes 2, 3, 4 and 5 are impaired and
are entitled to vote to accept or reject the Plan.

Allowed Priority Claims will be paid in full on the Distribution
Date.

Holders of Allowed Class 2 and 3 Claims will receive the amount
of the Claim plus interest in one Cash payment, or other
treatments as may be agreed upon by the parties.

Holders of Allowed Class 4 Claims will be paid an amount in Cash
equal to the principal amount of the Allowed Class 4 Claim.

Holders of Allowed Class 5 Claims will receive releases, in full
and complete satisfaction of the Allowed Claim.

The sole holder of the Membership Interest, on the other hand,
will retain its interest in the Membership Interest.

             Sale of Mirant NY's Membership Interest

Simultaneously with the occurrence of the effective date of
Mirant NY-Gen's Plan, Mirant New York, Inc., will close the sale
of its Membership Interest in Mirant NY-Gen to Alliance Energy
Renewables, LLC, or any prevailing bidder, free and clear of all
claims, liens and interests.

Under the terms of the Membership Interest Purchase and Sale
Agreement, all of Mirant NY-Gen's right, title and interest in
certain of its assets will be assigned to, and vested in, Mirant
Americas, Inc.

The Assigned Assets include, among other things (i) Mirant NY-
Gen's affirmative claims and causes of action against any third
parties for actions or inactions arising prior to the Sale
Closing Date, including claims filed against Orange and Rockland
Utilities, Inc., and Consolidated Edison Company of New York,
Inc., and (ii) all of Mirant NY-Gen's pending insurance claims
for losses with respect to the Swinging Bridge Station and the
Hillburn Station.

Upon assignment, Mirant Americas will be entitled to liquidate
the Assigned Assets without further Court order, and to retain
any proceeds generated from the liquidation for its own account.

Mirant Americas will have full standing, and will be fully
empowered to pursue all Avoidance Actions and other Causes of
Action, without further Court order.

                        The Sale Proceeds

Mirant Americas' lien granted under the DIP Facility on
substantially all of Mirant NY-Gen's Assets will attach to the
proceeds of the sale of Mirant NY's Membership Interest.

The Sale Proceeds will be deposited in a Sale Proceeds Account.

Mirant NY-Gen agrees (i) that the Lien will be valid, perfected,
non-avoidable, and fully enforceable and (ii) that all amounts
due and owing under the DIP Facility are not subject to any set-
offs, counterclaims or defenses of any kind or nature whatsoever.

Mirant Americas will release its Lien on the Estate Assets and
will agree that its Lien on the Sale Proceeds will be subject to
a carve-out in:

    (a) the Unsecured Creditor Amount -- the Court's estimate of
        the total amount of Allowed General Unsecured Claims;
        and

    (b) the Other Amount -- the Court's estimate of the total
        amount of Allowed Administrative Expenses except Fee
        Claims and DIP Secured Claims, Tax Claims, Priority
        Claims except Tax Claims, Secured Tax Claims, and Other
        Secured Claims.

The Court's estimation of the Unsecured Creditor Amount and each
category of the Other Amount will be conclusive.  None of Mirant
NY-Gen, the Reorganized Debtor, Mirant NY, Mirant Americas,
Alliance Energy, the Prevailing Bidder, the Sale Proceeds, or the
Assets will be liable for Allowed Claims exceeding the estimated
amounts for the Unsecured Creditor Amount or any Other Amount
category.

The Plan Carve-Out will replace the carve-out set forth in the
DIP Facility in its entirety.

Any portion of the Unsecured Creditor Amount not needed to pay
General Unsecured Claims and any portion of the Other Amount not
required to pay the allocated category of Administrative Expenses
will revert to Mirant Americas.

No Administrative Expenses, other than the DIP Secured Claim and
Fee Claims, of the Chapter 11 case or any future proceeding or
case which may result from it, will be charged pursuant to
Section 506(c) of the Bankruptcy Code or otherwise against Mirant
NY-Gen, the Reorganized Debtor, Mirant Americas or the Sale
Proceeds or Assigned Assets in each case without Mirant Americas'
prior written consent.

Neither Mirant NY-Gen, the Reorganized Debtor, Mirant Americas
nor the Sale Proceeds or Assigned Assets will be liable for the
payment of any other Claims of any kind against Mirant NY-Gen.

                         Disbursing Agent

The Plan provides that Mirant Corporation will be appointed to
serve as the Disbursing Agent under the Plan.  Mirant Corp. will
(i) take all steps and execute all instruments and documents
necessary to make Plan Distributions to holders of Allowed
Claims, (ii) comply with the Plan and the obligations under the
Plan, (iii) employ, retain, or replace professionals to represent
it with respect to its responsibilities, (iv) object to Claims as
specified in the Plan and prosecute the objections, (v)
compromise and settle any issue or dispute regarding the amount,
validity, priority, treatment, or Allowance of any Claim as
provided in the Plan, (vi) make annual and other periodic reports
regarding the status of distributions under the Plan to the
holders of Allowed Claims that are outstanding at that time, with
the reports to be made available upon request to the holder of
any Contested Claim, and (vii) exercise other powers as may be
vested in the Disbursing Agent pursuant to the Plan, the Plan
Documents or Court order.

The Disbursing Agent will make the required Plan Distributions
specified under the Plan on the relevant Distribution Date.

The Disbursing Agent, together with its officers, directors,
employees, agents, and representatives, are exculpated under the
Plan, except solely for actions or omissions arising out of the
Disbursing Agent's willful misconduct or gross negligence.

All Cash necessary for the Disbursing Agent to make payments
under the Plan and Plan Distributions will be obtained only from
the Sale Proceeds located in the Sale Proceeds Account.

No Plan Distribution of less than $50 dollars will be made by the
Disbursing Agent to the holder of any Claim unless a request is
made in writing.  If no request is made within 90 days of the
Effective Date, all Plan Distributions will revert to Mirant
Americas.

Checks issued in respect of Allowed Claims will be null and void
if not negotiated within 90 days after the date of issuance.
Requests for re-issuance of any voided check will be made
directly to the Disbursing Agent by the holder of the Allowed
Claim to whom the check was originally issued.  Any claim in
respect of the voided check will be made within 180 days after
the date of issuance of the check.  If no request is made, any
claims in respect of the void check will be discharged and
forever barred and the unclaimed Plan Distribution will revert to
Mirant Americas.

                  Distribution of Plan Carve-Out

The Disbursing Agent will reserve Sale Proceeds in the Sale
Proceeds Account in the amount of the Unsecured Creditor Amount
and the Other Amount, and the reserve will constitute the Plan
Carve-Out.  Funds located in the Sale Proceeds Account that are
not subject to the Plan Carve-Out will be used to fund Allowed
Fee Claims, and afterwards paid to Mirant Americas.

After all Plan Distributions have been made with respect to the
Unsecured Creditor Amount or any Other Amount category, any funds
reserved and remaining in the Sale Proceeds Account will be paid
to Mirant Americas.

                        Charter and Bylaws

On the Effective Date, the charter, bylaws, and other appropriate
corporate documents of the Reorganized Debtor will be amended or
created as necessary to satisfy the provisions of the Plan,
including, but not limited to, the transactions, as applicable to
Mirant NY-Gen, in accordance with the Membership Interest
Purchase and Sale Agreement.  After the Plan Effective Date, the
Reorganized Debtor will be permitted to amend or modify its
corporate documents as permitted by applicable law without Court
approval.

                  Estimation of Contested Claims

The Disbursing Agent may ask the Court to estimate any Contested
Claim regardless of whether the Disbursing Agent or Mirant NY-Gen
has previously objected to the Claim or whether the Court has
ruled on the objection.  In the event that the Court estimates
any Contested Claim, that estimated amount will constitute the
Allowed amount of the Claim for all purposes under the Plan.  All
of the objection, estimation, settlement, and resolution
procedures set forth in the Plan are cumulative and not
necessarily exclusive of one another.  Claims may be estimated
and subsequently compromised, settled, withdrawn, or resolved by
any mechanism approved by the Bankruptcy Court.

A full-text copy of Mirant NY-Gen's Plan of Reorganization is
available for free at http://ResearchArchives.com/t/s?1a0b

                        About Mirant Corp.

Headquartered in Atlanta, Georgia, Mirant Corporation (NYSE: MIR)
-- http://www.mirant.com/-- is an energy company that produces   
and sells electricity in North America, the Caribbean, and the
Philippines.  Mirant owns or leases more than 18,000 megawatts of
electric generating capacity globally.  Mirant Corporation filed
for chapter 11 protection on July 14, 2003 (Bankr. N.D. Tex. 03-
46590), and emerged under the terms of a confirmed Second Amended
Plan on Jan. 3, 2006.  Thomas E. Lauria, Esq., at White & Case
LLP, represented the Debtors in their successful restructuring.
When the Debtors filed for protection from their creditors, they
listed $20,574,000,000 in assets and $11,401,000,000 in debts. The
Debtors emerged from bankruptcy on Jan. 3, 2006.  Mirant
NY-Gen, LLC, Mirant Bowline, LLC, Mirant Lovett, LLC, Mirant New
York, Inc., and Hudson Valley Gas Corporation, were not included
and have yet to submit their plans of reorganization.  (Mirant
Bankruptcy News, Issue No. 115; Bankruptcy Creditors' Service
Inc., http://bankrupt.com/newsstand/or 215/945-7000).


MIRANT CORP: Excluded Debtors File Amended Supplemental Plan
------------------------------------------------------------
Mirant Corp.'s affiliates, Mirant New York Inc., Mirant Bowline
LLC, and Hudson Valley Gas Company, delivered an Amended
Supplemental Joint Chapter 11 Plan to the U.S. Bankruptcy Court
for the Northern District of Texas on Feb. 16, 2007, incorporating
additional provisions regarding Mirant NY-Gen, LLC, and a
joint stipulation and agreed order regarding Claim No. 7886.

Under the Amended Supplemental Plan, all Claims against Mirant
NY, Mirant Bowline and Hudson Valley -- the Emerging New
York Entities -- other than Administrative Claims and Tax Claims,
are grouped into five separate classes:

    Class    Type
    -----    ----
      1      Taxing Jurisdiction Settlement Claims
      2      Unsecured Claims Against Mirant Bowline, Hudson
              Valley and Mirant NY
      3      Equity Interests
      4      Convenience Claims
      5      MSE Secured Claim

Classes 1, 3 and 5 are unimpaired and are deemed to have accepted
the Supplemental Plan.  Classes 2 and 4 are impaired and
previously voted to accept the confirmed Joint Plan of
Reorganization filed by the New Mirant Entities.

The Amended Plan provides that Classes 2 and 4 will receive the
same treatment that they would have received had the Emerging New
York Entities emerged under the confirmed Mirant Plan.
Accordingly, Class 2 and 4 are each deemed to have accepted the
Supplemental Plan without any further voting.

Each holder of an Allowed Convenience Claim will receive on the
Distribution Date, the same treatment received by holders of
Claims classified as "MAG Debtor Class 7 - Convenience Claims"
under the confirmed Mirant Plan.

The MSE Secured Claim refers to Claim No. 7886, a secured Claim
filed by MSE Power Systems, Inc., for $613,112.  MSE Power will
receive a single Cash payment for its Claim.

Holders of Administrative Claim must file with the Bankruptcy
Court and serve on the Emerging New York Entities and the Office
of the United States Trustee, notice of the Administrative Claim
within 30 days after service of Notice of Confirmation.

                     Intercompany Settlement

In settlement and compromise of certain existing and potential
disputes regarding Intercompany Claims and related matters, the
Supplemental Plan treats Mirant Bowline, Hudson Valley, and
Mirant NY as a single estate for purposes of making any other
Plan Distributions under the Supplemental Plan, including Plan
Distributions in respect of the Convenience Claims, the MSE
Secured Claim and the Tax Claims if any.

                      Additional Guarantees

The 100% membership interest in Mirant NY-Gen owned by Mirant NY
will not be included as security for the Additional Guarantee and
will instead be transferred to Alliance Energy Renewables, LLC,
or any prevailing bidder for the interests, as the case may be,
pursuant to terms of the Membership Interest Purchase and Sale
Agreement and related orders, or alternate agreements and orders,
whichever is applicable.

                 The Purchase and Sale Agreement

In the event of a conflict between the Supplemental Plan and the
terms of any of the Membership Interest Agreements and Orders or
Alternative Agreements and Orders, the terms of the Membership
Agreements and Orders or Alternative Agreements and Orders will
prevail.  Notwithstanding the occurrence of the Supplemental Plan
Effective Date, (a) each party to a Membership Interest Agreement
and Order and to an Alternate Agreement and Order will be legally
bound by the terms of the Agreements and Orders; (b) each
Membership Interest Agreement and Order and Alternate Agreement
and Order will be fully enforceable against the parties according
to the Agreements' and Orders' terms; and (c) all Membership
Interest Claims and all defenses now existing or later arising
will be unaffected by these terms and all related rights, claims
and defenses are expressly preserved.

Nothing will affect, alter, release, limit or modify any
Membership Interest Claim, and the Emerging New York Entities
will not be exculpated from any Claims.  Nothing will enjoin any
holder of a Membership Interest Claim from asserting or
persecuting its Membership Interest Claim.

Membership Interest Claims refer to claims arising under any of
the Membership Interest Agreements and Orders or the Alternate
Agreements and Orders.

A full-text copy of the Emerging New York Entities' Amended
Supplemental Plan is available for free at:

             http://ResearchArchives.com/t/s?1a0c

                        About Mirant Corp.

Headquartered in Atlanta, Georgia, Mirant Corporation (NYSE: MIR)
-- http://www.mirant.com/-- is an energy company that produces   
and sells electricity in North America, the Caribbean, and the
Philippines.  Mirant owns or leases more than 18,000 megawatts of
electric generating capacity globally.  Mirant Corporation filed
for chapter 11 protection on July 14, 2003 (Bankr. N.D. Tex. 03-
46590), and emerged under the terms of a confirmed Second Amended
Plan on Jan. 3, 2006.  Thomas E. Lauria, Esq., at White & Case
LLP, represented the Debtors in their successful restructuring.
When the Debtors filed for protection from their creditors, they
listed $20,574,000,000 in assets and $11,401,000,000 in debts. The
Debtors emerged from bankruptcy on Jan. 3, 2006.  Mirant
NY-Gen, LLC, Mirant Bowline, LLC, Mirant Lovett, LLC, Mirant New
York, Inc., and Hudson Valley Gas Corporation, were not included
and have yet to submit their plans of reorganization.  (Mirant
Bankruptcy News, Issue No. 115; Bankruptcy Creditors' Service
Inc., http://bankrupt.com/newsstand/or 215/945-7000).


MODERN ALUMINUM: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Modern Aluminum Anodizing Corporation
        P.O. Box 408
        59 Hodges Cross Road
        North Adams, MA 01247-3951

Bankruptcy Case No.: 07-40561

Type of Business: The Debtor offers electroplating, polishing,
                  anodizing & custom metal fabricating services.

Chapter 11 Petition Date: February 15, 2007

Court: District of Massachusetts (Worcester)

Judge: Henry J. Boroff

Debtor's Counsel: Henry E. Geberth, Jr., Esq.
                  Hendel & Collins, P.C.
                  101 State Street
                  Springfield, MA 01103-2006
                  Tel: (413) 734-6411

Estimated Assets: $1 Million to $100 Million

Estimated Debts:  $1 Million to $100 Million

Debtor's 20 Largest Unsecured Creditors:

   Entity                     Nature of Claim       Claim Amount
   ------                     ---------------       ------------
National Grid                 Trade debt                $504,281
55 Bearfoot Road
Hawthorne, NY 10532

American Express              Trade debt                 $97,485
P.O. Box 7863
Fort Lauderdale, FL 33329

Berkshire Gas Co.             Trade debt                 $83,065
115 Cheshire Road
Pittsfield, MA 01201-1803

Hydro Aluminum North America  Trade debt                 $38,580
Inc.

Blue Cross and Blue Shield    Trade debt                 $27,526
of MA

Houghton Metal Finishing Co.  Trade debt                 $27,298

Vitex Extrusion               Trade debt                 $24,715

York International Corp.      Trade debt                 $18,478

Suez Energy Resources         Trade debt                 $18,314

Clariant Corporation          Trade debt                 $15,280

Longview Fibre Co.            Trade debt                 $14,971

Pierce Aluminum Co., Inc.     Trade debt                 $14,509

Valley Roll Off               Trade debt                 $12,800

Troy Boiler Works             Trade debt                  $9,876

Berkshire Environmental       Trade debt                  $8,583
Consulting

Cain Hibbard Myers & Cook     Trade debt                  $7,823
P.C.

Smith, Watson & Company, LLP  Trade debt                  $7,331

Thomas Gajda & Company        Trade debt                  $6,360

Yarde Metals, Inc.            Trade debt                  $5,907

Temple Inland                 Trade debt                  $5,746


MOHEGAN TRIBAL: Dec. 31 Balance Sheet Upside-Down by $19.5 Million
------------------------------------------------------------------
The Mohegan Tribal Gaming Authority reported $37.9 million of net
income on $385.3 million of net revenues for the first quarter of
fiscal 2007 ended Dec. 31, 2006, compared with $38.3 million of
net income on $353.3 million of net revenues for the same period
in fiscal 2006 ended Dec. 31, 2005.

Net revenues for the quarter ended Dec. 31, 2006, increased
primarily as a result of the addition of slot revenues at Mohegan
Sun at Pocono Downs during the period and the increase in net slot
revenues at Mohegan Sun.  

Income from operations decreased as a result of an 11.3% increase
in operating costs and expenses, offset by the growth in net
revenues.  This decrease was primarily attributable to the opening
of the Phase I slot machine facility at Mohegan Sun at Pocono
Downs, which has a significantly lower operating margin than
Mohegan Sun, and pre-opening costs and expenses related to the
opening of the same Phase I facility.  

Net income decreased primarily due to the decrease in income from
operations and higher interest costs.  The increase in interest
costs was primarily due to an increase in the weighted average
outstanding debt, partially offset by the capitalization of
$358,000 in interest costs incurred during the construction phase
of the Phase I slot machine facility at Pocono Downs.  

At Dec. 31, 2006, the company's balance sheet showed $2.03 billion
in total assets and $2.05 billion in total liabilities, resulting
in a $19.5 million total stockholders' deficit.  

The company's balance sheet at Dec. 31, 2006, also showed strained
liquidity with $176.7 million in total current assets available to
pay $318.4 million in total current liabilities.

Full-text copies of the company's consolidated financial
statements for the quarter ended Dec. 31, 2006, are available for
free at http://researcharchives.com/t/s?1a09  

                     Sources and Uses of Cash

At Dec. 31, 2006, the Authority had cash and cash equivalents of
$121.6 million, compared to $75.2 million at Sept. 30, 2006.  As
of Dec. 31, 2006, there was $49 million outstanding under the
Authority's $450.0 million bank credit facility revolving loan.
Inclusive of letters of credit, which reduce borrowing
availability under the bank credit facility, the Authority had
approximately $400.7 million of available borrowing under the bank
credit facility as of Dec. 31, 2006.  

Capital expenditures totaled $39 million for the quarter ended
Dec. 31, 2006, versus $25.2 million for the same period in the
prior year, comprised primarily of Pocono Downs Phase I
construction expenditures of $27.2 million and capital
expenditures at Mohegan Sun of $11.6 million.

On Nov. 16, 2006, the Authority announced its plans for an
estimated $740 million expansion at Mohegan Sun named Project
Horizon.  Groundbreaking occurred in November 2006 with the
commencement of construction of a new Asian themed gaming area,
which will include a new 5,000-square-foot bus lobby, a 4,000-
square-foot "Hong Kong" Street food outlet and 12,000-square-feet
of gaming space offering 46 table games such as Mini-Baccarat, Sic
Bo and Pai Gow Poker.  This new area is scheduled to open in the
summer of 2007.

The Authority plans to finance Project Horizon and Phase II at
Pocono Downs through a new $1 billion revolving credit facility
from a syndicate of financial institutions and commercial banks,
which is expected to close in February 2007.  The new facility
would replace the current $450.0 million credit facility.

                       About Mohegan Tribal

Mohegan Tribal Gaming Authority -- http://mtga.com/-- is an   
instrumentality of the Mohegan Tribe of Indians of Connecticut, a
federally recognized Indian tribe with an approximately 507-acre
reservation situated in southeastern Connecticut, adjacent to
Uncasville, Connecticut.  

The Authority operates Mohegan Sun, a gaming and entertainment
complex that is situated on a 240-acre site on the Tribe's
reservation and, through its subsidiary, Downs Racing LP, owns and
operates Mohegan Sun at Pocono Downs, a gaming and entertainment
facility offering slot machines and harness racing in Plains
Township, Pennsylvania and five off-track wagering facilities
located elsewhere in Pennsylvania.

Mohegan Sun currently operates in an approximately 3 million
square foot facility, which includes the Casino of the Earth,
Casino of the Sky, the Shops at Mohegan Sun, a 10,000-seat Arena,
a 350-seat Cabaret, meeting and convention space and the
approximately 1,200-room luxury Sky hotel.


MOVIE GALLERY: Moody's Affirms Rating and Says Outlook is Positive
------------------------------------------------------------------
Moody's Investors Service confirmed the corporate family rating of
Movie Gallery Inc. at Caa1 and changed the rating outlook to
positive.

The change in outlook to positive reflects the elimination of the
company's pending first quarter violation and improvement in the
company's tight liquidity as a result of the commitment from
Goldman Sachs to provide and syndicate a total of $900 million of
senior secured credit facilities.  The new credit facilities will
be used to refinance the company's existing credit facilities,
under which the company would have had a covenant violation for
the first quarter of 2007.

Moody's assigned a B2 to the company's proposed $650 million
senior secured first lien credit facilities and a Caa1 to the
$250 million senior secured second lien facility.  

In addition, Moody's upgraded the company's speculative grade
liquidity rating to SGL-3. This rating action concludes the review
for possible downgrade initiated on Nov. 22, 2006.

Confirmed:

   -- Corporate family rating at Caa1;

   -- Probability of default rating at B3;

   -- Senior secured credit facilities at B3, LGD3, 41%; and

   -- Senior unsecured guaranteed notes at Caa2, LGD5,89%.

Assigned:

   -- $100 million senior secured revolving credit facility at B2,
      LGD3, -33%;

   -- $25 million synthetic letter of credit facility at B2,
      LGD3, 33%;

   -- $525 million senior secured first lien term loan at B2,
      LGD3, 33%; and

   -- $250 million senior secured second lien term loan at Caa1,
      LGD4, 66%.

Upgraded:

   -- Speculative grade liquidity rating to SGL-3 from SGL-4.

The ratings on the existing senior secured credit facilities rated
B3 will be withdrawn upon their termination at the close of the
new $900 million credit facilities.

The Caa1 corporate family rating reflects the company's continued
eroding competitive position of its Hollywood Entertainment
subsidiary, its very weak credit metrics, and the numerous threats
the home video rental industry faces.  The rating is also
constrained by the company's high seasonality and aggressive
financial policies.  The company has very little financial
flexibility as result of the high leverage it incurred in order to
finance its acquisition of Hollywood Entertainment in early 2005.
Balancing out these weaknesses is the company's national
diversification, credible market position, and its scale with
approximately $2.5 billion in annual revenues.

The rating outlook is positive.  The positive outlook reflects the
additional liquidity provided by the new bank credit facilities as
well as Moody's expectation the company's liquidity position will
improve further as it is likely that its working capital needs
during 2007 will be significantly below prior years.

Ratings could be upgraded should the company demonstrate that its
internally generated cash flow has stabilized and can fully
support with a moderate cushion its working capital, video rental
library purchases, capital expenditures, and its debt service
requirements.  Given the positive outlook it is currently unlikely
that ratings would be downgraded.  However, downward rating
pressure would develop should the company's liquidity position
deteriorate or should there be further notable erosion in the
company's operating income.

Moody's has applied its Probability of Default and
Loss-Given-Default rating methodology to Movie Gallery resulting
in a probability of default rating of B3 which in one notch above
the corporate family rating.  This reflects a lower likelihood of
default and more importantly a lower recovery rate for Movie
Gallery as compared to other Caa1 corporate family ratings.  This
lower recovery rate is a result of the company's impaired
enterprise value given its eroding profitability and its low
levels of tangible assets.

The SGL-3 represents adequate liquidity as provided by the Movie
Gallery's internally generated cash flow and the new $100 million
revolving credit facility.  It is Moody's expectation that
internally generated cash flow, including on balance sheet cash,
will be sufficient to fund its working capital, capital
expenditures, and scheduled debt amortization over the next twelve
months.

However, this is subject to the company being able to dramatically
reduce its working capital needs over the prior year.  Should the
company not be able to achieve these working capital improvements,
it has sufficient availability under its new $100 million
revolving credit facility.  The new credit facilities eliminates
the company's expected first quarter 2007 covenant default that
would have occurred under the facilities being replaced.  The
company is anticipated to have sufficient cushion with the two
financial covenants contained in the new agreements; minimum
interest coverage, maximum secured leverage, and maximum total
leverage.

Movie Gallery, headquartered in Dothan, Alabama, is a leading
provider of in-home movie and game entertainment in the United
States.  It operates over 4,650 stores in the United States,
Canada, and Mexico under the Movie Gallery, Hollywood
Entertainment, Game Crazy, and VHQ banners.  Pro forma revenues
for fiscal year 2005 were $2.6 billion.


PACIFIC LUMBER: Palco and Scopac Want to Settle Intercompany Debts
------------------------------------------------------------------
The Pacific Lumber Company and Scotia Pacific Company LLC ask the
U.S. Bankruptcy Court for the Southern District of Texas to
authorize (i) PALCO to pay Scopac $3,195,000 for logs purchased
for January 2007; and (ii) Scopac to pay PALCO $995,000 for
services rendered for January 2007, pursuant to a Master Purchase
Agreement and a Services Agreement entered into between the two
companies on July 20, 1998.

The settlement of the obligations between the two debtor companies  
would be effected by PALCO exercising setoff or recoupment of the
$995,000, thus making a $2,200,000 payment to Scopac.

The Debtors further ask the Court to modify the automatic stay in
Scopac's bankruptcy case to permit the $2,200,000 net payment to
be made by PALCO to Scopac.

The proposed settlement of intercompany debts is based on the
Debtors' ordinary course of business practices over many years
under the Agreements.

The Pacific Lumber Company owns and manages, directly or through
its subsidiaries, over 200,000 acres of contiguous commercial
timberlands.  Scotia Pacific Company LLC owns, conducts
silvicultural activities on, and handles regulatory compliance
and approvals for, approximately 200,000 acres of the Timberlands
-- the Scopac Timberlands.

                   The Master Purchase Agreement

The Purchase Agreement between Scopac and PALCO governs the sale
to PALCO by Scopac of logs harvested from Scopac Timberlands.  
The Purchase Agreement contains a relatively complicated set of
provisions designed to assure that the logs are purchased from
Scopac at fair market value.

The Purchase Agreement requires PALCO to cut and remove, at its
own expense, the purchased timber.  It also requires PALCO to
indemnify Scopac under certain circumstances.

Under the Purchase Agreement, PALCO is obligated to pay Scopac on
the 20th day of each calendar month for the logs purchased by
PALCO during the prior calendar month.

Shelby A. Jordan, Esq., at Jordan, Hyden, Womble, Culbreth &
Holzer, P.C., in Corpus Christi, Texas, representing Pacific
Lumber Company, informs the Court that the payment due by PALCO to
Scopac on Feb. 20, 2007, for logs purchased for January 2007 is
approximately $3,195,000.  Approximately $1,850,000 of the amounts
pertains to logs purchased during the prepetition period from
Jan. 1 to 18, 2007.

                     The Services Agreement

Pursuant to the Services Agreement, PALCO provides certain
operational, management and related services to Scopac with
respect to the Scopac Timberlands, including:

   * providing supervisory and oversight services with respect to
     the Scopac Timberlands;

   * furnishing of equipment, personnel and expertise reasonably
     necessary for the operation and maintenance of the Scopac
     Timberlands and provision of the Services;

   * operating the Scopac Timberlands as commercial timberlands,
     including providing fire protection, maintenance,
     rehabilitation and construction of roads, reforestation,
     salvaging and harvesting of damaged trees, and measures to
     comply with applicable environmental laws;

   * providing necessary personnel and technical assistance in
     managing the harvest of timber in a manner reasonably
     calculated to produce growth, consistent with continuing
     the quality and quantity of Scopac's merchantable timber;

   * providing advice, consultation, and assistance regarding
     the preparation, filing and prosecution of Timber Harvesting
     Plans, Sustained Yield Plans, Habitat Conservation Plans, or
     similar plans or permits by Scopac as required by the
     Indenture with respect to the Timber Notes, and complying
     with applicable law regarding streams, waterways, wildlife
     habitat and endangered species;

   * providing advice and consultation to Scopac with respect to
     legislative matters relating to the Scopac Timberlands or
     the operation, management or harvesting of it;

   * providing advice and consultation regarding Scopac's entry
     into any log purchase agreement;

   * preparing and filing on Scopac's behalf all pleadings and
     motions and otherwise diligently pursuing appeals of any
     denial of any THP, SYP, HCP, or similar plan or permit, and
     defense of any legal challenge to any approval of any THP,
     SYP or HCP, or similar plan or permit, and related matters;

   * providing necessary personnel and technical assistance to
     enable Scopac to monitor compliance with each THP, SYP, HCP,
     or similar plan or permit and to obtain all certificates of
     completion and similar governmental certifications;

   * providing necessary personnel and technical assistance to
     enable Scopac to prepare and file any development or
     strategic plan required by any governmental authority with
     respect to the Scopac Timberlands;

   * providing necessary personnel and technical assistance to
     enable Scopac to update or improve the data processing
     information regarding the Scopac Timberlands, and providing
     information for updating Scopac's geographical information
     system;

   * assisting Scopac in preparing reports required pursuant to
     the Indenture; and

   * providing Scopac with access to PALCO's data processing
     equipment and information as necessary for Scopac to store,
     collect and gather information necessary to conduct its
     business.

The Services Agreement requires that PALCO's funds are not
commingled with Scopac's, and thus, requires PALCO to maintain
separate books and records, reflecting separate corporate
existence from Scopac.

A base monthly fee under the Services Agreement is payable by
Scopac to PALCO on the 20th day of each calendar month.  Scopac
is also obligated to pay PALCO for expenses incurred for roadwork
and reforestation in connection with PALCO's logging activities
on the Scopac Timberlands.

Mr. Jordan states that the payment due by Scopac to PALCO on
Feb. 20, 2007, under the Services Agreement is $995,000,
which consists of:

   * A base monthly service fee of $113,897 for January 2007.
     About $66,135 of the January fee is attributable to the
     prepetition period from Jan. 1 to 18, 2007; and

   * Approximately $881,000 for reforestation and roadwork
     expenses incurred by PALCO in January 2007.  About $587,500
     of the January expense is attributable to the prepetition
     period from Jan. 1 to 18, 2007.

                       About Pacific Lumber

Headquartered in Oakland, California, The Pacific Lumber Company
-- http://www.palco.com/-- and its subsidiaries operate in    
several principal areas of the forest products industry,
including the growing and harvesting of redwood and Douglas-fir
timber, the milling of logs into lumber and the manufacture of
lumber into a variety of finished products.

Scotia Pacific Company LLC, Scotia Development LLC, Britt Lumber
Co., Inc., Salmon Creek LLC and Scotia Inn Inc. are wholly owned
subsidiaries of Pacific Lumber.

Scotia Pacific, Pacific Lumber's largest operating subsidiary, was
established in 1993, in conjunction with a securitization
transactions pursuant to which the vast majority of Pacific
Lumber's timberlands were transferred to Scotia Pacific, and
Scotia Pacific issued Timber Collateralized Notes secured by
substantially all of Scotia Pacific's assets, including the
timberlands.

Pacific Lumber, Scotia Pacific, and four other subsidiaries filed
for chapter 11 protection on Jan. 18, 2007 (Bankr. S.D. Tex. Case
Nos. 07-20027 through 07-20032).  Jeffrey L. Schaffer, Esq.,
William J. Lafferty, Esq., and Gary M. Kaplan, Esq., at Howard
Rice Nemerovski Canady Falk & Rabkin, A Professional Corporation
is Pacific Lumber's lead counsel.  Nathaniel Peter Holzer, Esq.,
Harlin C. Womble, Jr. , Esq., and Shelby A. Jordan, Esq., at
Jordan Hyden Womble Culbreth & Holzer PC, is Pacific Lumber's co-
counsel.  Kathryn A. Coleman, Esq., and Eric J. Fromme, Esq., at
Gibson, Dunn & Crutcher LLP, acts as Scotia Pacific's lead
counsel.  John F. Higgins, Esq., and James Matthew Vaughn, Esq.,
at Porter & Hedges LLP, is Scotia Pacific's co-counsel.

When Pacific Lumber filed for protection from its creditors, it
listed estimated assets and debts of more than $100 million.  
Scotia Pacific listed total assets of $932,000,000 and total debts
of $765,978,335.  The Debtors' exclusive period to file a chapter
11 plan expires on May 18, 2007.  (Scotia/Pacific Lumber
Bankruptcy News, Issue No. 5, http://bankrupt.com/newsstand/or    
215/945-7000).


PACIFIC LUMBER: Panel Wants Bankruptcy Cases Moved to California
----------------------------------------------------------------
The Official Committee of Unsecured Creditors in Pacific Lumber
Company and its debtor-affiliates' bankruptcy cases asks the U.S.
Bankruptcy Court for the Southern District of Texas to transfer
venue of the Debtors' cases to the U.S. Bankruptcy Court for the
Northern District of California, in the interest of justice, for
the convenience of the parties-in-interest and for the efficient
and economic administration of the Debtors' estate.

The Unsecured Creditors Committee asserts that the Debtors'
Chapter 11 cases were filed in an improper district for purposes
of Section 1408 of the Judiciary and Judicial Procedures Code.

Maxim B. Litvak, Esq., at Pachulski Stang Ziehl Young Jones &
Weintraub LLP, in San Francisco, California, contends that the
Debtors intentionally manipulated the bankruptcy laws to
systemically manufacture venue of the cases in Texas by creating
a wholly new company, Scotia Development LLC, and giving it the
appearance of legitimacy.

Mr. Litvak argues that Scotia Development is merely a vehicle for
establishing venue and a sham because:

   (a) It was created for no apparent legitimate business purpose
       or economic sense;

   (b) The Debtors have absolutely no material connection to
       Texas;

   (c) The Debtors do not have assets or active employees or
       operations in Texas;

   (d) The Debtors are clearly California-based and California-
       focused companies.  They have operated for more than 130
       years and own more than 210,000 acres of land in
       California.  The Debtors own three sawmills and a hotel
       and have their principal offices in California.  They have
       equipment and other personal property in California worth
       tens of millions of dollars; and

   (e) Except for Scotia Development, none of the other Debtors
       appear to have any relationship to Texas whatsoever.

The Debtors fabricated venue in Texas to achieve their political
goal of staying out of California to gain some advantage over
their creditors, Mr. Litvak says.

Mr. Litvak notes that many of the Debtors' unsecured creditors
are small "mom and pop" operations, and cannot be reasonably
expected to travel to Texas to participate in the proceedings
and, certainly cannot afford to hire two sets of counsel.

Moreover, administering the cases in Texas will be a costly
exercise for the Debtors' estates, Mr. Litvak says.  All of the
Debtors' fact witnesses are located in California.  Most of the
Debtors' principal attorneys are based in California.  The
Committee's attorneys and financial advisors are also located in
California.

"The costs associated with transporting all these professionals
and various witnesses is an unnecessary expense that could be
avoided if these cases were transferred to the California
Bankruptcy Court," Mr. Litvak argues.

Mr. Litvak also notes that there are questions of timing.  The
employment application of Jordan, Hyden, Womble, Culbreth &
Holzer, P.C., as later supplemented, makes clear the California-
based Debtors hired their Corpus Christi-based bankruptcy
attorneys before Scotia Development was even incorporated.

Contrary to the Debtors' assertions, it also appears that Scotia
Development is not a guarantor of the secured debt of The Pacific
Lumber Company, Mr. Litvak states.  Scotia Development has only
one known bank account -- an operating account at American Bank.  
Also, as of February 8, 2007, the Debtors' cash collateral
budgets do not make reference to any cash payment to or from
Scotia Development, Mr. Litvak adds.

                       About Pacific Lumber

Headquartered in Oakland, California, The Pacific Lumber Company
-- http://www.palco.com/-- and its subsidiaries operate in    
several principal areas of the forest products industry,
including the growing and harvesting of redwood and Douglas-fir
timber, the milling of logs into lumber and the manufacture of
lumber into a variety of finished products.

Scotia Pacific Company LLC, Scotia Development LLC, Britt Lumber
Co., Inc., Salmon Creek LLC and Scotia Inn Inc. are wholly owned
subsidiaries of Pacific Lumber.

Scotia Pacific, Pacific Lumber's largest operating subsidiary, was
established in 1993, in conjunction with a securitization
transactions pursuant to which the vast majority of Pacific
Lumber's timberlands were transferred to Scotia Pacific, and
Scotia Pacific issued Timber Collateralized Notes secured by
substantially all of Scotia Pacific's assets, including the
timberlands.

Pacific Lumber, Scotia Pacific, and four other subsidiaries filed
for chapter 11 protection on Jan. 18, 2007 (Bankr. S.D. Tex. Case
Nos. 07-20027 through 07-20032).  Jeffrey L. Schaffer, Esq.,
William J. Lafferty, Esq., and Gary M. Kaplan, Esq., at Howard
Rice Nemerovski Canady Falk & Rabkin, A Professional Corporation
is Pacific Lumber's lead counsel.  Nathaniel Peter Holzer, Esq.,
Harlin C. Womble, Jr., Esq., and Shelby A. Jordan, Esq., at
Jordan Hyden Womble Culbreth & Holzer PC, is Pacific Lumber's co-
counsel.  Kathryn A. Coleman, Esq., and Eric J. Fromme, Esq., at
Gibson, Dunn & Crutcher LLP, acts as Scotia Pacific's lead
counsel.  John F. Higgins, Esq., and James Matthew Vaughn, Esq.,
at Porter & Hedges LLP, is Scotia Pacific's co-counsel.

When Pacific Lumber filed for protection from its creditors, it
listed estimated assets and debts of more than $100 million.  
Scotia Pacific listed total assets of $932,000,000 and total debts
of $765,978,335.  The Debtors' exclusive period to file a chapter
11 plan expires on May 18, 2007.  (Scotia/Pacific Lumber
Bankruptcy News, Issue No. 5, http://bankrupt.com/newsstand/or    
215/945-7000).


PARSONS 4E: Voluntary Chapter 11 Case Summary
---------------------------------------------
Debtor: Parsons 4E LLC
        7248 Swansong Way
        Bethesda, MD 20817
        Tel: (301) 217-5910

Bankruptcy Case No.: 07-10598

Type of Business: The Debtor is an affiliate of 4Energy LLC,
                  which filed for bankruptcy on March 9, 2006
                  (Bankr. D. Md. Case No. 06-11288).

Chapter 11 Petition Date: January 19, 2007

Court: District of Maryland (Greenbelt)

Judge: Paul Mannes

Debtor's Counsel: Mitchell J. Rotbert, Esq.
                  The Rotbert Law Group LLC
                  2275 Research Boulevard, Suite 500
                  Rockville, MD 20850
                  Tel: (301) 217-5907
                  Fax: (301) 251-4032

Estimated Assets: $1 Million to $100 Million

Estimated Debts:  $1 Million to $100 Million

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


PREMIER AT LAKEMONT: Case Summary & 7 Largest Unsecured Creditors
-----------------------------------------------------------------
Lead Debtor: Premier at Lakemont LLC
             74 Waterloo Street
             Warrenton, VA 20186

Bankruptcy Case No.: 07-10278

Debtor affiliates filing separate chapter 11 petitions:

      Entity                                     Case No.
      ------                                     --------
      J & R Land Investments LLC                 07-10277

Type of Business: J&R Land is Premier at Lakemont's guarantor.

Chapter 11 Petition Date: February 5, 2007

Court: Eastern District of Virginia (Alexandria)

Judge: Robert G. Mayer

Debtors' Counsel: Linda Dianne Regenhardt, Esq.
                  Gary & Regenhardt PLLC
                  8500 Leesburg Pike, Suite 7000
                  Vienna, VA 22182-2409
                  Tel: (703) 848-2828
                  Fax: (703) 893-9276

                              Total Assets      Total Debts
                              ------------      -----------
Premier at Lakemont LLC       $4,315,609        $5,346,522
J & R Land Investments LLC    $9,724,311        $8,494,490

A. Premier at Lakemont LLC's Two Largest Unsecured Creditors:

   Entity                     Nature of Claim       Claim Amount
   ------                     ---------------       ------------
George Webb                   Lot 103.73 AC             $922,684  
3502 Mavis Court              Block 3/22
Fairfax, VA 22033             Acreage: Lakemont
                              Drive, Culpeper,
                              Virginia

ATCS                          Lot 103.73 AC              $19,109
767 Madison Road, Suite 107   Block 3/22
Culpeper, VA 22701            Acreage: Lakemont
                              Drive, Culpeper,
                              Virginia

B. J & R Land Investments LLC's Five Largest Unsecured Creditors:

   Entity                     Nature of Claim       Claim Amount
   ------                     ---------------       ------------
ATCS                          Culpeper: 402               $7,484
767 Madison Road, Suite 107   North West Street,
Culpeper, VA 22701            Culpeper, Virginia
                              (Tax ID: 41-A2-1M-10)

Bury + Partners, Inc.         Haymarket                  $13,607   
4154 Weeks Drive              Commercial: 6519
Warrenton, VA 20187           Old Carolina Road,
                              Haymarket, VA

PW Stilwell                   Culpeper: 402               $3,418
13482 Stilwell Lane           North West Street,
Brandy Station, VA 22714      Culpeper, Virginia
                              (Tax ID: 41-A2-1M-10)

RAI                           Culpeper: 402               $2,390
P.O. Box 445                  North West Street,
Rixeyville, VA 22737          Culpeper, Virginia
                              (Tax ID: 41-A2-1M-10)

Town of Culpeper              Culpeper: 402                  $80
400 South Main Street         North West Street,
Suite 109                     Culpeper, Virginia
Culpeper, VA 22701            (Tax ID: 41-A2-1M-10)


PRS INSURANCE: Confirmation Hearing Scheduled for March 2
---------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware set a
hearing at 11:30 a.m., on March 2, 2007, to consider confirmation
of the Amended Consolidated Chapter 11 Plan of Liquidation jointly
proposed by PRS Insurance Group Inc., its debtor-affiliates, and
Sean C. Logan, the Debtors' Chapter 11 Trustee.

The Court had previously approved the Amended Disclosure Statement
explaining that Plan on Jan. 22, 2007.

Objections to the confirmation, if any, must be in by 4:00 p.m.,
on Friday, Feb. 23, 2007.

                      Overview of the Plan

The Plan calls for the Debtors to be substantively consolidated
into a single estate and liquidate for purposes of making
distributions to creditors.

                      Treatment of Claims

Under the Plan, Administrative Claims, Priority Tax Claims, and
Miscellaneous Secured Claims will be paid in full.

Holders of Senior General Unsecured Claims, estimated at
$42,018,998, will receive cash equal to their pro rata share of
the distribution from the Creditors' Trust until all holders have
been paid 20% of their claims.  Thereafter, holders will receive a
pro rata share of the amount remaining in the Creditors' Trust
until paid in full.  Creditors under this class are estimated to
recover 14 to 22% of their claims.

Holders of General Unsecured Claims, estimated at $108,477,978,
will receive cash equal to their pro rata share from the
distribution trust after Senior General Unsecured Claims are paid.  
Creditors under this class are estimated to recover 0 to 2% of
their claims.

Intercompany claims will be eliminated.

Holder of Interests will not receive any distribution under the
Plan and those interests will be cancelled.

Headquartered in Beachwood, Ohio, PRS Insurance Group Inc. is the
parent company whose subsidiaries include insurance companies,
insurance agencies, offshore reinsurers, and investment funds.  An
involuntary Chapter 7 petition was filed against the company on
Oct. 31, 2000 (Bankr. D. Del. Case No. 00-04070).  On Jan. 19,
2001, the case was converted to a voluntary chapter 11 case.  On
June 5, 2001, the Court entered an order appointing Sean C. Logan
as the chapter 11 trustee.  The chapter 11 Trustee then filed
voluntary bankruptcy petitions under chapter 11 for some of the
company's subsidiaries.  Young, Conaway, Stargatt & Taylor
represents the chapter 11 trustee.  The Debtors disclose that as
of their bankruptcy filing, scheduled claims totaled $218,377,368.


RIGHT-WAY DEALER: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Right-Way Dealer Warehouse Inc.
        63 Morse Street
        Norwood, MA 02062
        Tel: (845) 278-5888

Bankruptcy Case No.: 07-10355

Type of Business: The Debtor is a wholesaler of hardware,
                  paints, varnishes, and supplies.

Chapter 11 Petition Date: January 22, 2007

Court: District of Massachusetts (Boston)

Judge: Robert Somma

Debtor's Counsel: D. Ethan Jeffery, Esq.
                  Harold B. Murphy, Esq.
                  Natalie B. Sawyer, Esq.
                  Hanify & King PC
                  One Beacon Street, 21st Floor
                  Boston, MA 02108
                  Tel: (617) 423-0400

Estimated Assets: $1 Million to $100 Million

Estimated Debts:  $1 Million to $100 Million

Debtor's 20 Largest Unsecured Creditors:

   Entity                                 Claim Amount
   ------                                 ------------
   Cabot Stains/Valspar                     $1,042,160
   1191 South Wheeling Road
   Wheeling, IL 60090

   Dap Inc.                                   $443,616
   2400 Boston St., Suite 200
   Baltimore, MD 21224

   William Zinsser & Company                  $366,052
   173 Belmont Drive
   Somerset, NJ 08875

   Minwax Corp.                               $320,452
   101 Prospect Avenue
   Cleveland, OH 44115

   Rust-Oleum Corp.                           $188,885

   United States Gypsum Company               $127,054

   Purdy Corp.                                 $90,868

   Duckback Products                           $86,785

   3M                                          $82,425

   Premier Paint Roller Mfg. Inc.              $81,981

   Potential Poly Bag Inc.                     $73,948

   GE Silicone                                 $73,491

   Roman Adhesives Inc.                        $69,800

   Colonial Marketing Inc.                     $61,695

   Shur-Line                                   $61,620

   Anchor Continental Corp.                    $57,197

   Finish Line                                 $54,752

   Robert Bosch Tool Corp.                     $49,223

   KC Professional Tool Company                $48,337

   The Sherwin-Williams Company                $48,104


RIGHT-WAY DEALER: Section 341(a) Meeting Scheduled Tomorrow
-----------------------------------------------------------
The United States Trustee for Region 1 will convene a meeting of
Right-Way Dealer Warehouse Inc.'s creditors at 1 p.m., on Feb. 22,
2007, at Room 1190, U.S. Trustee Office, 10 Causeway Street in
Boston, Mass.  This is the first meeting of creditors required
under Sec. 341(a) of the U.S. Bankruptcy Code in all bankruptcy
cases.

All creditors are invited, but not required, to attend.  This
Meeting of Creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible officer of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

Right-Way Dealer Warehouse Inc. is a wholesaler of hardware,
paints, varnishes, and supplies.  The Debtor filed for chapter 11
protection on Jan. 22, 2007 (Bankr. D. Mass. Case No. 07-10355).  
D. Ethan Jeffery, Esq., Harold B. Murphy, Esq., and Natalie B.
Sawyer, Esq., at Hanify & King PC represent the Debtor.  When the
Debtor filed for protection from its creditors, it estimated
assets and debts between $1 million and $100 million.


ROUGE INDUSTRIES: Court Extends Removal Period Until April 16
-------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware extended,
until April 16, 2007, the time within which Rouge Industries and
its debtor-affiliates can file notices of removal of civil
actions.

In their request, the Debtors told the Court that when they filed
for bankruptcy on Oct. 23, 2003, they were party to 61 civil
actions pending in various Courts.

Immediately after filing for bankruptcy, the Debtors said they
focused their efforts on obtaining approval and consummating the
asset sale to SeverStal North America Inc.  After the asset sale
was consummated, the Debtors began to devote substantial amount of
their time to winding down their affairs and addressing
outstanding issues including claims administration, statutory lien
analysis, employee and retiree benefit matters, avoidance action
analysis and recoveries, investigation of potential claims and
causes of action, disposition of remaining non-cash assets, cash
collateral, plan formulation and other estate administrative
matters.

Headquartered in Dearborn, Michigan, Rouge Industries Inc., an
integrated producer of flat-rolled steel, filed for chapter 11
protection on October 23, 2003 (Bankr. D. Del. Case No. 03-13272).
Adam G. Landis, Esq., at Landis Rath & Cobb LLP and Alicia Beth
Davis, Esq., at Morris Nichols Arsht & Tunnell represent the
Debtors.  Kurt F. Gwynne, Esq., and Richard Allen Keuler, Jr.,
Esq., at Reed Smith LLP serve as counsel to the Official Committee
of Unsecured Creditors.  When the Debtors filed for protection
from their creditors, they listed $558,131,000 in total assets and
$558,131,000 in total debts.

On Dec. 19, 2003, the Court approved the sale of substantially all
of the Debtors' assets to SeverStal N.A. for $285.5 million.  The
Asset Sale closed on Jan. 30, 2005.


SALLY BEAUTY: Acquires Salon Services Equity for $59 Million
------------------------------------------------------------
Sally Beauty Holdings Inc. has completed the acquisition of the
stock of Chapelton 21 Limited, a private company incorporated in
Scotland, conducting its business through direct and indirect
subsidiaries including Salon Services (Hair and Beauty Supplies)
Ltd.  The company acquired the equity of Salon Services for
approximately GBP30 million, or approximately $59 million, subject
to certain adjustments.

The company's acquisition of Salon Services includes over 80
stores with a combination of company-owned and franchised
locations in the United Kingdom, Ireland, Germany, and Spain.  The
Salon Services business consists of stores, franchises and a mail
order catalog offering over 9,000 products.  Total revenues for
Salon Services were approximately o54 million for the fiscal year
ended Sept. 30, 2006.

"We are pleased to announce our first major acquisition as an
independent public company," Gary Winterhalter, President and
Chief Executive Officer, stated.  "We believe that Salon Services
represents a solid strategic fit for the continued international
expansion of our Sally Beauty Supply stores."

Headquartered in Denton, Texas, Sally Beauty Holdings, Inc.
(NYSE:SBH) -- http://www.sallybeautyholdings.com/-- retails and  
distributes beauty supplies with operations under its Sally Beauty
Supply and Beauty Systems Group businesses.  The company has
stores in Canada, Mexico, Puerto Rico, the U.K., Ireland, Germany
and Japan.

As of Dec. 31, 2006, the company's balance sheet showed a
stockholders' deficit of $836,209,000, compared to a stockholders'
equity of $1,005,967,000 at Sept. 30, 2006.


SEA CONTAINERS: Aegis Financial Discloses 9% SeaCon Equity Stake
----------------------------------------------------------------
In a regulatory filing with the U.S. Securities and Exchange
Commission dated Feb. 12, 2007, Aegis Financial Corp.
disclosed that it beneficially owns 2,342,805 shares of Sea
Containers Ltd.'s common stock, which represents 9.0% of the
total outstanding shares issued.

William S. Berno, Paul Gambal, Scott L. Barbee, also beneficially
own 2,342,805 shares of SCL's common stock, or 9.0% of the total
outstanding shares issued.

Aegis Financial has the sole power to vote or direct the votes of
and to dispose of or direct the disposition of 2,342,805 shares.  
Mr. Barbee has the sole power to vote or direct the votes of and
to dispose of or direct the disposition of 600 shares.

Messrs. Berno, Gambal, and Barbee have the shared power to vote
or to direct the vote and to dispose of or direct the disposition
of 2,342,805 shares.

About 26,145,000 shares of SCL common stock are outstanding as of
Oct. 31, 2006.  Shares of SCL stock were traded at $1.01 a share
at the close of business on Feb. 15, 2007.

Based in Hamilton, Bermuda, Sea Containers Ltd. (NYSE: SCRA, SCRB)
-- http://www.seacontainers.com/-- provides passenger and freight  
transport and marine container leasing.  Registered in Bermuda,
the company has regional operating offices in London, Genoa, New
York, Rio de Janeiro, Sydney, and Singapore.  The company is owned
almost entirely by United States shareholders and its primary
listing is on the New York Stock Exchange (SCRA and SCRB) since
1974.  On October 3, the company's common shares and senior notes
were suspended from trading on the NYSE and NYSE Arca after the
company's failure to file its 2005 annual report on Form 10-K and
its quarterly reports on Form 10-Q during 2006 with the U.S.
Securities and Exchange Commission.

Through its GNER subsidiary, Sea Containers Passenger Transport
operates Britain's fastest railway, the Great North Eastern
Railway, linking England and Scotland.  It also conducts ferry
operations, serving Finland and Estonia as well as a commuter
service between New York and New Jersey in the U.S.

Sea Containers Ltd. and two subsidiaries filed for chapter 11
protection on Oct. 15, 2006 (Bankr. D. Del. Case No. 06-11156).
Robert S. Brady, Esq., at Young, Conaway, Stargatt & Taylor
represents the Debtors in their restructuring efforts.  When the
Debtors filed for protection from their creditors, they reported
US$1.7 billion in total assets and $1.6 billion in total debts.  
(Sea Containers Bankruptcy News, Issue No. 11; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000)

The Debtors' exclusive period to file a chapter 11 plan expires on
June 12, 2007.  The Debtor has until August 11, 2007 to accept
solicitations of that plan.


SEA CONTAINERS: Donald Smith Discloses 6.53% SeaCon Equity Stake
----------------------------------------------------------------
In a regulatory filing with the U.S. Securities and Exchange
Commission dated Feb. 12, 2007, Donald G. Smith, president of
Donald Smith & Co., Inc., disclosed that the company beneficially
owns 1,707,400 shares of Sea Containers Ltd.'s common stock,
which represents 6.53% of the total outstanding shares issued.

Donald Smith & Co. has the sole power to direct the votes of
1,256,300 shares and the sole power to dispose of 1,707,400
shares.

All securities reported are owned by advisory clients of Donald
Smith & Co. and not one of which owns more than 5% of the class.

About 26,145,000 shares of SCL common stock are outstanding as of
Oct. 31, 2006.  Shares of SCL stock were traded at $1.01 a share
at the close of business on Feb. 15, 2007.

Based in Hamilton, Bermuda, Sea Containers Ltd. (NYSE: SCRA, SCRB)
-- http://www.seacontainers.com/-- provides passenger and freight  
transport and marine container leasing.  Registered in Bermuda,
the company has regional operating offices in London, Genoa, New
York, Rio de Janeiro, Sydney, and Singapore.  The company is owned
almost entirely by United States shareholders and its primary
listing is on the New York Stock Exchange (SCRA and SCRB) since
1974.  On October 3, the company's common shares and senior notes
were suspended from trading on the NYSE and NYSE Arca after the
company's failure to file its 2005 annual report on Form 10-K and
its quarterly reports on Form 10-Q during 2006 with the U.S.
Securities and Exchange Commission.

Through its GNER subsidiary, Sea Containers Passenger Transport
operates Britain's fastest railway, the Great North Eastern
Railway, linking England and Scotland.  It also conducts ferry
operations, serving Finland and Estonia as well as a commuter
service between New York and New Jersey in the U.S.

Sea Containers Ltd. and two subsidiaries filed for chapter 11
protection on Oct. 15, 2006 (Bankr. D. Del. Case No. 06-11156).
Robert S. Brady, Esq., at Young, Conaway, Stargatt & Taylor
represents the Debtors in their restructuring efforts.  When the
Debtors filed for protection from their creditors, they reported
US$1.7 billion in total assets and $1.6 billion in total debts.  
(Sea Containers Bankruptcy News, Issue No. 11; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000)

The Debtors' exclusive period to file a chapter 11 plan expires on
June 12, 2007.  The Debtor has until August 11, 2007 to accept
solicitations of that plan.


SERACARE LIFE: Court Confirms Amended Joint Plan of Reorganization
------------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of California
confirmed Thursday the First Amended Plan of Reorganization
jointly proposed by SeraCare Life Sciences Inc. and its Ad Hoc
Committee of Equityholders.

The Court determined that the Plan satisfies the 16 standards for
confirmation under Section 1129(a) of the Bankruptcy Code.

                      Overview of the Plan

The Plan provides that the Debtor to reorganize, and that current
shareholders fund a restructuring of the company's balance sheet.

The Joint Plan is based on a rights offering.  The rights offering
will be available to current shareholders on a pro rata basis.  
Each shareholder will be entitled to purchase a pro rata share,
out of all current shareholders, of 4,250,000 new shares to be
issued at a price of $4.75 per share.

In connection with the Plan, members of the Equity Committee have
committed to fully participate in the Rights Offering.  In
addition, members of the Equity Committee will act as backstop
purchasers, and have committed to purchase all unexercised
subscription rights.

The Equity Committee is comprised of:

    (i) The Wolfson Group, with approximately 3.5% of the shares,

   (ii) Harbinger Capital Partners Master Fund I Ltd. and
        Harbinger Capital Partners Special Situations Fund L.P.,
        with approximately 20.7% of the shares, and

  (iii) Black Horse Capital LP, with approximately 7.3% of the
        shares.

                        Treatment of Claims

Under the Plan, Administrative Claims, Priority Tax Claims,
Priority Claims, and Bank Claims, will be paid in full and in
cash.

Junior Secured Note Claims will be paid in full and in cash
subject to defenses, setoffs and counterclaims.

Miscellaneous Secured Claims will be assumed by Reorganized
SeraCare subject to defenses, setoffs and counterclaims.  Commerce
Bank Claims will also be assumed by Reorganized SeraCare.  
Acceleration of these two claims will be deemed rescinded as of
the effective date of the Plan.

General Unsecured Claims will be paid in full and in cash with
interest.

Governmental Section 510(b) Claims will also be paid in full and
in cash.

Holders Nongovernmental Section 510(b) Claims will, at the
election of the Plan Proponents, either be:

    (a) paid in full and in cash of the allowed or estimated
        amount of the claims, or

    (b) receive Initial Reorganized SeraCAre Common Stock with a
        value equal to the product of:

            * the allowed or estimated amount of the claim divided
              by,

            * the sum of the total estimated and allowed amounts
              of Nongovernmental Claims and net enterprise value
              of the Debtor as of the confirmation date.

The Debtor relates that if the election is made to pay Non-
governmental Claims in cash, holders of Common-Stock Interest will
receive, for each common stock:

    (i) one share of the Initial Reorganized SeraCare Common
        Stock; and

   (ii) their Pro Rata Share of the Subscription Rights.

Otherwise, holders will receive their pro rate share of all
Initial Reorganized SeraCare Common Stock not distributed to
Nongovernmental Claim holders and their pro rata share of the
Subscription Rights.

On the effective date of the Plan, all Common-Stock Option
Interests will be exchanged, as permitted by the terms of the
relevant option agreements and option plans, for corresponding
options of Reorganized SeraCare.

                        About SeraCare Life

Based in Oceanside, California, SeraCare Life Sciences, Inc. --
http://www.seracare.com/-- develops and manufactures biological    
based materials and services for diagnostic tests, commercial
bioproduction of therapeutic drugs, and medical research.  The
Company filed for chapter 11 protection on March 22, 2006
(Bankr. S.D. Calif. Case No. 06-00510).  Garrick A. Hollander,
Esq., Paul J. Couchot, Esq., Peter W. Lianides, Esq., and Sean A.
O'Keefe, Esq., at Winthrop Couchot represent the Debtor.  The
Official Committee of Unsecured Creditors selected Henry C.
Kevane, Esq., and Maxim B. Litvak, Esq., at Pachulski Stang Ziehl
Young Jones & Weintraub LLP, as its counsel.  Thomas E. Patterson,
Esq., and Martin R. Barash, Esq., at Klee, Tuchin, Bogdanoff &
Stern LLP, Mark I. Bane, Esq., and D. Ross Martin, Esq., at Ropes
& Gray LLP, represent the Ad Hoc Committee of Equityholders.  When
the Debtor filed for protection from its creditors, it listed
$119.2 million in assets and $33.5 million in debts.


SIRIUS SATELLITE: NAB Wants XM Satellite Merger Blocked
-------------------------------------------------------
Dennis Wharton, Executive Vice President of The National
Association of Broadcasters, released a statement Monday
concerning the proposed merger of SIRIUS Satellite Radio Inc. and
XM Satellite Radio Inc.

"Given the government's history of opposing monopolies in all
forms, NAB would be shocked if federal regulators permitted a
merger of XM and Sirius.  It bears mentioning that regulators
summarily rejected a similar monopoly merger of the nation's only
two satellite television companies -- DirecTV and DISH Network --
just a few years back.

"When the FCC authorized satellite radio, it specifically found
that the public would be served best by two competitive nationwide
systems.  Now, with their stock prices at rock bottom and their
business model in disarray because of profligate spending
practices, they seek a government bail-out to avoid competing in
the marketplace.

"In coming weeks, policymakers will have to weigh whether an
industry that makes Howard Stern its poster child should be
rewarded with a monopoly platform for offensive programming.  
We're hopeful that this anti-consumer proposal will be rejected."

                         Sirius-XM Merger

As reported in the Troubled Company Reporter on Feb. 20, 2007,
SIRUIS and XM entered into a definitive merger agreement pursuant
to which XM shareholders will receive a fixed exchange ratio of
4.6 shares of SIRIUS common stock for each share of XM they own.  
XM and SIRIUS shareholders will each own approximately 50% of the
combined company.

                           About NAB

The National Association of Broadcasters -- http://www.nab.org/--  
is a trade association that advocates on behalf of more than 8,300
free, local radio and television stations and also broadcast
networks before Congress, the Federal Communications Commission
and the Courts.

                        About XM Satellite

Headquartered in Washington, D.C., XM Satellite Radio Inc.
(Nasdaq: XMSR) -- http://www.xmradio.com/-- is a wholly owned
subsidiary of XM Satellite Radio Holdings Inc.  XM has been
publicly traded on the NASDAQ exchange since Oct. 5, 1999.  XM's
2007 lineup includes more than 170 digital channels of choice from
coast to coast: commercial-free music channels, premier sports,
news, talk, comedy, children's and entertainment programming; and
the most advanced traffic and weather information.  XM has
broadcast facilities in New York and Nashville, and additional
offices in Boca Raton, Fla.; Southfield, Mich.; and Yokohama,
Japan.

                   About SIRIUS Satellite Radio

New York-based SIRIUS Satellite Radio Inc. (NASDAQ: SIRI) --
http://www.sirius.com/-- delivers more than 125 channels of the
best programming in all of radio.  SIRIUS is the original and only
home of 100% commercial free music channels in satellite radio,
offering 69 music channels available nationwide.  SIRIUS also
delivers 65 channels of sports, news, talk, entertainment,
traffic, weather, and data.  SIRIUS is the Official Satellite
Radio Partner and broadcasts live play-by-play games of the NFL,
NBA, and NHL and.  All SIRIUS programming is available for a
monthly subscription fee of only $12.95.

SIRIUS products for the car, truck, home, RV, and boat are
available in more than 25,000 retail locations, including Best
Buy, Circuit City, Crutchfield, Costco, Target, Wal-Mart, Sam's
Club, RadioShack, and at http://shop.sirius.com/  

SIRIUS radios are offered in vehicles from Audi, BMW, Chrysler,
Dodge, Ford, Infiniti, Jaguar, Jeep(R), Land Rover, Lexus,
Lincoln-Mercury, Mazda, Mercedes-Benz, MINI, Nissan, Rolls Royce,
Scion, Toyota, Porsche, Volkswagen and Volvo.  Hertz also offers
SIRIUS in its rental cars at major locations around the country.

                          *     *     *

At Sept. 30, 2006, SIRIUS Satellite Radio's balance sheet showed
$1.6 billion in total assets and $1.8 billion in total
liabilities, resulting in a $200.3 million stockholders' deficit.


SKEEN GOLDMAN: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Skeen Goldman LLP
        dba Goldman & Skeen P.A.
        fdba Goldman Skeen & Wadler P.A.
        11 East Lexington Street, 4th Floor
        Baltimore, MD 21202

Bankruptcy Case No.: 07-10535

Type of Business: The Debtor is a law firm jointly
                  owned by Harry Goldman, Jr., Esq.,
                  and Robert F. Skeen, Esq.

Chapter 11 Petition Date: January 18, 2007

Court: District of Maryland (Baltimore)

Judge: James F. Schneider

Debtor's Counsel: Josef E. Rosenblatt, Esq.
                  Kenenth J. Breitbart P.A.
                  10 North Calvert Street, Suite 100
                  Baltimore, MD 21202
                  Tel: (410) 539-4554
                  Fax: (410) 539-2602

Estimated Assets: $100,000 to $1 Million

Estimated Debts:  $1 Million to $100 Million

Debtor's 20 Largest Unsecured Creditors:

   Entity                                 Claim Amount
   ------                                 ------------
   Cooper & Tuerk, LLP                        $701,157
   201 North Charles Street, Suite 2300
   Baltimore, MD 21201

   Levy, Phillips & Konigsberg, LLP           $701,157
   800 Third Avenue, 13th Floor
   New York, NY 10022

   Murphy & Shaffer, LLC                      $135,455
   36 South Charles Street, Suite 1400
   Baltimore, MD 21201-3109

   Robert Skeen                               $128,258
   1200 Linden Green
   Baltimore, MD 21217

   Harry Goldman, Jr.                         $104,572
   8260 Brattle Road
   Pikesville, MD 21208

   Citicorp Vender Finance, Inc.               $12,307
   P.O. Box 7247-0322
   Philadelphia, PA 19170-0322

   Iron Mountain                                $5,968
   8200 Preston Court, Suite I
   Jessup, MD 20794

   The Hartford Insurance Company                 $954
   P.O. Box 2907
   Hartford, CT 06104-2907

   Denise Parker                                  $800
   4015 Security Lane
   Jarretsville, MD 21084-1228

   Thompson West                                  $598
   P.O. Box 64833
   St. Paul, MN 55164-0833

   Tom Glasner                                    $501
   1200 Linden Green
   Baltimore, MD 21217

   L.A.D. Reporting                               $391
   7654 Standish Place
   Rockville, MD 20855

   Verizon                                        $329
   P.O. Box 17577
   Baltimore, MD 21297-1513

   Space Tech                                     $300
   7445 New Ridge Road, Suite R
   Hanover, MD 21076

   Sir Speedy                                     $128
   115 N. Charles Street
   Baltimore, MD 21201

   Deer Park                                      $109
   215 6661 Dixie Highway, Suite 4
   Louisville, KY 40258

   Pitney Bowes Credit Corp.                      $100
   2225 American Drive
   Neenah, WI 54956-1005

   Safeguard                                       $96
   c/o Banner Business Forms
   2 Hamill Road, Suite 221
   Baltimore, MD 21210

   VMWExpress                                      $84
   P.O. Box 13082
   Baltimore, MD 21203

   The Library Company of the Baltimore Bar        $49
   Mitchell Courthouse, Room 618
   100 N. Calvert Street
   Baltimore, MD 21202-1705


SPANKY'S FOOD: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Spanky's Food Marts, Inc.
        P.O. Box 220
        Union, MS 39365

Bankruptcy Case No.: 07-50081

Type of Business: The Debtor sells food and beverages.

Chapter 11 Petition Date: January 24, 2007

Court: Southern District of Mississippi
       (Gulfport Divisional Office)

Judge: Edward Ellington

Debtor's Counsel: Jeffrey Kyle Tyree, Esq.
                  Melanie T. Vardaman, Esq.
                  Harris Jernigan & Geno, PPLC
                  P.O. Box 3380
                  Ridgeland, MS 39158-3380
                  Tel: (601) 427-0048
                  Fax: (601) 427-0050

Estimated Assets: $100,000 to $1 Million

Estimated Debts:  $1 Million to $100 Million

Debtor's 20 Largest Unsecured Creditors:

   Entity                                 Claim Amount
   ------                                 ------------
   Carleton Oil Company Inc.                  $141,475
   P.O. Box 220
   Union, MS 39353

   Long Wholesale Inc.                         $76,599
   P.O. Box 667
   Marion, MS 39342

   U.S. Foodservice/Jackson                    $39,925
   P.O. Box 846079
   Dallas, TX 75284-6079

   Meridian Coca-Cola Bottling Co.             $13,410

   Frito Lay Inc.                               $7,609

   Mississippi Power Co.                        $6,854

   Brown Bottling Co.                           $6,361

   Dairy Fresh/Hattiesburg                      $6,304

   Northeast MS Bottling Co.                    $4,921

   Hall & Hunt Enterprises LLC                  $4,778

   S&D Coffee Inc.                              $2,609

   C and C Properties Inc.                      $2,603

   Golden Flake Snack Foods Inc.                $2,485

   Newell Paper Company                         $2,234

   Refrigeration Services Inc.                  $1,611

   Ice Plant                                    $1,608

   Pepsi Americas                               $1,583

   Magnolia Beverage Co. Inc.                   $1,440

   McKee Foods Corp.                            $1,150

   Petrey Novelty Co.                           $1,145


STARBAK COMMS: Silicon Valley Bank to Sell Assets at Private Sale
-----------------------------------------------------------------
Silicon Valley Bank intends to sells, license or lease all assets
of StarBak Communications Inc., to which it has a security
interest, to the highest qualified offer at a private sale.

The assets for sale are intellectual property, which includes
patents essential to video streaming, and equipment.

For further information, contact:

         James E. Fleet
         Managing Director
         Phoenix Management Services, Inc.
         225 Franklin Street, 26th Floor
         Boston, MA 02110
         Tel: (401) 742-7553

StarBak Communications provides a fully integrated video
communication platform that allows organizations to create,
manage, deliver and display all of their video content using their
own Internet Protocol.


SYMBOLLON: Raises $2.3 Million from Private Placement
-----------------------------------------------------
Symbollon Pharmaceuticals Inc. completed a private placement to
accredited investors in December 2006 and January 2007 raising net
proceeds of $2,368,038 for an aggregate of 3,213,632 shares of
Class A common stock and 2,410,224 redeemable warrants.  The
purpose of the financing is to fund the ongoing Phase III pivotal
clinical trial evaluating IoGen for the treatment of pain and
tenderness associated with fibrocystic breast disease and working
capital needs.

Paul Desjourdy, president and CEO of Symbollon Pharmaceuticals,
commented, "We are extremely pleased that we were able to complete
this private placement. We remain focused on progressing our Phase
III clinical trial as we continue to take the necessary steps to
seek approvals to market IoGen(TM) for the initial indication of
breast pain associated with fibrocystic breast."

Mr. Desjourdy emphasized that, "As we enter into 2007, completing
the enrollment of the IoGen Phase III study remains our number 1
priority. Presently, we have over 70 patients randomized on drug.
We are expecting to randomize the remaining patients during the
first half of 2007. The recently completed financing will provide
us with adequate resources to compete the enrollment process."

Mr. Desjourdy further explained that, "We are interested in
developing data during 2007 regarding IoGen's potential to treat
such other indications as breast cancer and endometriosis. Such
data should enhance the program's value and increase our ability
to enter into a licensing relationship. Our other priorities for
2007 include initiating development activities for certain
antimicrobial applications covered by our technology. We have
identified over 6 potential products that we believe address large
unmet market needs. As we await the pivotal Phase III data from
the ongoing IoGen study, we are focused on building a strong
clinical pipeline based on our proprietary technology."

                 About Symbollon Pharmaceuticals

Symbollon Pharmaceuticals, Inc. (OTCBB: SYMBA) --
http://www.symbollon.com/-- is a specialty pharmaceutical company  
focused on the development and commercialization of proprietary
drugs based on its molecular iodine technology. Symbollon is
conducting a Phase III clinical trial evaluating IoGen as a
potential treatment for moderate to severe periodic pain and
tenderness (clinical mastalgia) associated with fibrocystic breast
disease (FBD).  FBD is a condition that affects approximately 20
to 33 million women in the U.S., and there are approximately 7 to
13 million women suffering from clinical periodic mastalgia.  The
company believes IoGen also may be useful in treating and
preventing endometriosis, ovarian cysts, and premenopausal breast
cancer.  Symbollon is also in preclinical development of
antimicrobial products based on the same molecular iodine
technology, and intends to investigate the potential effectiveness
of its technology in applications such as dermatology, oral care,
upper respiratory tract conditions, urinary tract infection and
wound care.

As reported in the Troubled Company Reporter on Sept. 1, 2006,
Symbollon incurred a $645,770 net loss on $39,833 of revenues for
the second quarter ended June 30, 2006.  As of June 30, 2006, the
Company's balance sheet showed $1,404,029 in assets and $1,193,818
in equity.

Vitale, Caturano & Company, Ltd., the company's auditor, expressed
substantial doubt about the company's ability to continue as a
going concern after auditing the company's financial statements
for the year ending Dec. 31, 2005.  The auditor pointed to the
company's recurring losses from operations and accumulated
deficit.


THOMASVILLE HONDA: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: ELL 11, LLC
        dba Thomasville Honda
        1610 East Jackson Street
        Thomasville, GA 31799

Bankruptcy Case No.: 07-60089

Type of Business: The Debtor is a dealer of Honda-branded
                  vehicles.  See http://www.thomasvillehonda.com/

Chapter 11 Petition Date: February 20, 2007

Court: Middle District of Georgia (Thomasville)

Debtor's Counsel: J. Robert Williamson, Esq.
                  Scroggins & Williamson
                  1500 Candler Building
                  127 Peachtree Street, Northeast
                  Atlanta, GA 30303
                  Tel: (404) 893-3880

Estimated Assets: $1 Million to $100 Million

Estimated Debts:  $1 Million to $100 Million

Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Orbach Waters Advisors, Inc.                             $950,000
2212 DuPont Drive, Suite L
Irvine, CA 9261

Milton Carter                      Business Property     $432,000
8185 Glenmore Drive                Lease
Tallahassee, FL 32312

Security Bank                                            $175,000
P.O. Box 1912                                            Secured:
401 Pine Avenue                                          $750,000
Albany, GA 31702

Market Scan                                               $74,000
31416 Agoura Road, Suite 110
Westlake Village, CA 91361

Marlin Leasing                                            $57,819
P.O. Box 13604
Philadelphia, PA 19101

American Honda Motor Co.           Parts                  $53,662

WCTV-6                                                    $40,000

Great America Leasing Corp.                               $32,000

Cumulus Broadcasting                                      $20,000

Opus Broadcasting                                         $20,000

Reyna Capital Corp.                                       $13,000

The Lamar Companies                                       $10,000

Carr Riggs & Ingram                                        $7,500

Trinity                                                    $7,000

Arstein & Lehr LLP                                         $6,500

Jack's Service Center                                      $6,205

Harmon Auto Glass                                          $5,253

South Georgia Media Group                                  $4,000

American Tire Distributors                                 $2,100

Royal Distributing Inc.                                    $1,300


UNED ASSOCIATES: Failed Property Sale Prompts Chapter 11 Filing
---------------------------------------------------------------
Uned Associates, LLC, filed a voluntary Chapter 11 petition with
the U.S. Bankruptcy Court for the Southern District of New York on
Feb. 20, 2007.

In an affidavit submitted to the Court, Evan Edelman, officer of
Uned Inc., the sole manager and a member of the Debtor, relates
that the Debtor is the owner of a real property located at 211
East 51st Street in New York.  

Mr. Edelman says that the property was subject to a contract of
sale for a total purchase price of $40 million in cash, between
the Debtor as seller and 211 East 51 LLC as purchaser.  211 East
however failed to close on the property in accordance with the
contract leading to a default.

Mr. Edelman tells the Court that given the failed closing and
absent bankruptcy, it is likely that 211 East would sue the Debtor
relating to the issues over the contract, as well as a short-term
purchase financing note that at one time was proposed to the
Debtor by 211 East to address certain financing requirements of
HSBC Bank.  The financing with HSBC never materialized and the
purported note never became effective.

211 East's failure to close has forced the Debtor to incur
unnecessary and unanticipated carrying costs and expenses, Mr.
Edleman discloses.  Without the protection provided under Chapter
11 of the Bankruptcy Code, litigation with 211 East could
potentially impeded the Debtor's efforts to remarket and sell the
property, Mr. Edelman contends.

The Debtor's current mortgage and other financing with M&T Bank is
due to expire at the end of February.  Thus, the property needs to
be sold promptly independent of any potential claims that could be
asserted by 211 East, Mr. Edleman further contends.

The Debtor believes that under Chapter 11, it can maximize its
ability to sell the property and if necessary, move to reject any
residual rights that 211 East may have under the contract.

Mr. Edleman concludes that the Debtor intends to use the
reorganization process to obtain a prompt and immediate
disposition of the property under a plan and expects that a sale
will enable all legitimate claims to be paid in full.


UNED ASSOCIATES: Case Summary & 13 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Uned Associates, LLC
        211 East 51st Street
        New York, NY 10022

Bankruptcy Case No.: 07-10412

Type of Business: The Debtor owns real property located at
                  211 East 51st Street in New York.

Chapter 11 Petition Date: February 20, 2007

Court: Southern District of New York (Manhattan)

Debtor's Counsel: Kevin J. Nash, Esq.
                  Finkel Goldstein Rosenbloom Nash, LLP
                  26 Broadway Suite 711
                  New York, NY 10004
                  Tel: (212) 344-2929
                  Fax: (212) 422-6836

Total Assets: $40,079,435

Total Debts:  $22,456,923

Debtor's 13 Largest Unsecured Creditors:

   Entity                                           Claim Amount
   ------                                           ------------
   Manufacturers and Trades Trust Company             $7,297,092
   350 Park Avenue
   New York, NY 10022

   211 East 51 LLC                                    $2,000,000
   c/o Sweeney, Gallo, Reich & Bolz, LLP
   95-25 Queens Boulevard, 6th Floor
   Rego Park, NY 11374

   Jerry Gorelick                                       $610,626
   c/o Zeld Enterprises
   115 Portion Road
   Holtsville, NY 10017

   Eastern Consolidated                                 $600,000
   355 Lexinston Avenue, 11th Floor
   New York, NY 10017

   Jeff Weinbaum                                        $240,237
   30 Cardinal Drive
   Roslyn, NY 11476

   Ira Fox                                              $150,000

   Faber & Fox                                          $104,755

   Robert Grosser                                        $30,000

   AFCO                                                  $19,692

   Stuyvesant Fuel Service Corp.                          $6,000

   Cornicello & Tendler, LLP                              $3,000

   Colonial Elevator Corp.                                $1,500

   Con Edison                                             $1,500


WES-KAN OIL: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Wes-Kan Oil Co. Inc.
        130 West Pancake Boulevard
        Liberal, KS 67901

Bankruptcy Case No.: 07-10105

Type of Business: The Debtor sells fuel.

Chapter 11 Petition Date: January 23, 2007

Court: District of Kansas (Wichita)

Judge: Robert E. Nugent

Debtor's Counsel: David G. Arst, Esq.
                  Arst & Arst, P.A.
                  150 North Main Street, Suite 515
                  Wichita, KS 67202
                  Tel: (316) 265-4222

Estimated Assets: $1 Million to $100 Million

Estimated Debts:  $1 Million to $100 Million

Debtor's 20 Largest Unsecured Creditors:

   Entity                                 Claim Amount
   ------                                 ------------
   Valero Energy Corp.                        $378,393
   P.O. Box 696000
   San Antonio, TX 78269

   Cenex Garden City Co-Op Inc.               $175,885
   P.O. Box 838
   Garden City, KS 67846

   Amcon                                      $105,003
   P.O. Box 2444
   Springfield, MO 65801-2444

   Kansas Lottery                             $100,000
   128 North Kansas Avenue
   Topeka, KS 66603-3638

   Pepsi Cola                                  $56,768
   P.O. Box 841828
   Dallas, TX 75284-1828

   Conoco Phillips Petroleum Co.               $18,742
   P.O. Box 2197
   Houston, TX 77252

   FritoLay Inc.                               $16,499
   75 Remittance Drive, Suite 1217
   Chicago, IL 60675-1217

   Seward County                               $15,052
   415 North Washington, Suite 113
   Liberal, KS 67901

   Coca Cola                                    $8,091
   88017 Expedite Way
   Chicago, IL 60695-0001

   Sara Lee Coffee Tea                          $7,854
   427 South Washington
   Wichita, KS 67202

   DV Douglass Roofing Inc.                     $7,360
   1215 West Mary Street
   P.O. Box 506
   Garden City, KS 67846

   Crouch Pump Repair                           $6,825
   235 Nelson
   Garden City, KS 67846

   E A Sween Co.                                $6,471
   16101 West 78th Street
   Eden Prairie, MN 55344

   Hiland Dairy Foods                           $5,194
   P.O. Box 2199
   Wichita, KS 67201-2199

   K and K Oil Co.                              $4,885
   P.O. Box 1173
   Liberal, KS 67901

   Comanche County                              $4,055
   P.O. Box 246
   Coldwater, KS 67029

   Stevens County                               $3,907
   200 East Sixth Street
   Hugoton KS 67951

   James Jackle                                 $3,841
   1403 Nelson
   Liberal, KS 67901

   Ford County                                  $3,529
   100 Gunsmoke
   Dodge City, KS 67801

   Southwest Distributing Co.                   $3,225
   P.O. Box 1360
   Dodge City, KS 67801


WHISTLER LAGOON: Case Summary & Largest Unsecured Creditor
----------------------------------------------------------
Debtor: Whistler Lagoon LLC
        9927 Stephen Decatur Highway, Suite 17
        Ocean City, MD 21842
        Tel: (410) 213-7006

Bankruptcy Case No.: 07-10627

Type of Business: The Debtor is a real estate developer.

Chapter 11 Petition Date: January 22, 2007

Court: District of Maryland (Baltimore)

Judge: Duncan W. Keir

Debtor's Counsel: Robert Keith McIntosh, Esq.
                  McIntosh and Schanno
                  212 North Main Street
                  Berlin, MD 21811
                  Tel: (410) 641-0527

Total Assets: $22,514,000

Total Debts:  $21,054,544

Debtor's Largest Unsecured Creditor:

   Entity                        Nature of Claim   Claim Amount
   ------                        ---------------   ------------
Somerset County MD Property      Taxes                   $1,736
P.O. Box 309
Princess Anne, MD 21853


XM SATELLITE: NAB Wants SIRIUS Satellite Merger Blocked
-------------------------------------------------------
Dennis Wharton, Executive Vice President of The National
Association of Broadcasters, released a statement Monday
concerning the proposed merger of SIRIUS Satellite Radio Inc. and
XM Satellite Radio Inc.

"Given the government's history of opposing monopolies in all
forms, NAB would be shocked if federal regulators permitted a
merger of XM and Sirius.  It bears mentioning that regulators
summarily rejected a similar monopoly merger of the nation's only
two satellite television companies -- DirecTV and DISH Network --
just a few years back.

"When the FCC authorized satellite radio, it specifically found
that the public would be served best by two competitive nationwide
systems.  Now, with their stock prices at rock bottom and their
business model in disarray because of profligate spending
practices, they seek a government bail-out to avoid competing in
the marketplace.

"In coming weeks, policymakers will have to weigh whether an
industry that makes Howard Stern its poster child should be
rewarded with a monopoly platform for offensive programming.  
We're hopeful that this anti-consumer proposal will be rejected."

                         Sirius-XM Merger

As reported in the Troubled Company Reporter on Feb. 20, 2007,
SIRUIS and XM entered into a definitive merger agreement pursuant
to which XM shareholders will receive a fixed exchange ratio of
4.6 shares of SIRIUS common stock for each share of XM they own.  
XM and SIRIUS shareholders will each own approximately 50% of the
combined company.

                            About NAB

The National Association of Broadcasters -- http://www.nab.org/--  
is a trade association that advocates on behalf of more than 8,300
free, local radio and television stations and also broadcast
networks before Congress, the Federal Communications Commission
and the Courts.

                   About SIRIUS Satellite Radio

New York-based SIRIUS Satellite Radio Inc. (NASDAQ: SIRI) --
http://www.sirius.com/-- delivers more than 125 channels of the
best programming in all of radio.  SIRIUS is the original and only
home of 100% commercial free music channels in satellite radio,
offering 69 music channels available nationwide.  SIRIUS also
delivers 65 channels of sports, news, talk, entertainment,
traffic, weather, and data.  SIRIUS is the Official Satellite
Radio Partner and broadcasts live play-by-play games of the NFL,
NBA, and NHL and.  All SIRIUS programming is available for a
monthly subscription fee of only $12.95.

SIRIUS products for the car, truck, home, RV, and boat are
available in more than 25,000 retail locations, including Best
Buy, Circuit City, Crutchfield, Costco, Target, Wal-Mart, Sam's
Club, RadioShack, and at http://shop.sirius.com/  

SIRIUS radios are offered in vehicles from Audi, BMW, Chrysler,
Dodge, Ford, Infiniti, Jaguar, Jeep(R), Land Rover, Lexus,
Lincoln-Mercury, Mazda, Mercedes-Benz, MINI, Nissan, Rolls Royce,
Scion, Toyota, Porsche, Volkswagen and Volvo.  Hertz also offers
SIRIUS in its rental cars at major locations around the country.

                        About XM Satellite

Headquartered in Washington, D.C., XM Satellite Radio Inc.
(Nasdaq: XMSR) -- http://www.xmradio.com/-- is a wholly owned
subsidiary of XM Satellite Radio Holdings Inc.  XM has been
publicly traded on the NASDAQ exchange since Oct. 5, 1999.  XM's
2007 lineup includes more than 170 digital channels of choice from
coast to coast: commercial-free music channels, premier sports,
news, talk, comedy, children's and entertainment programming; and
the most advanced traffic and weather information.  XM has
broadcast facilities in New York and Nashville, and additional
offices in Boca Raton, Fla.; Southfield, Mich.; and Yokohama,
Japan.

                          *     *     *

At Sept. 30, 2006, XM Satellite Radio Inc.'s balance sheet showed
a stockholders' deficit of $253,183,000, compared with a deficit
of $358,079,000 at June 30, 2006.


* All Health Plans Must Report Quality of Care to NCQA
------------------------------------------------------
In a bid to dramatically improve health care quality in the U.S.,
all health plans seeking accreditation from the National Committee
for Quality Assurance, known as NCQA, would be required to report
on the quality of care delivered to patients under issued proposed
requirements.

Under the new program, NCQA will evaluate preferred provider
organizations on the same set of standards, clinical measures, and
patient experience ratings on which NCQA has evaluated health
maintenance organizations and point-of-service plans.  NCQA aims
to allow consumers, purchasers, and others to make reliable,
objective comparisons among different types of health plans.

"Today's confusing alphabet soup of plan types and names often
distracts from what people really need to know," NCQA President
Margaret E. O'Kane said.  "It doesn't matter what a plan calls
itself, what matters to patients is how well they perform."

The need to improve health care quality has never been greater.
Despite spending nearly twice as much on health care as other
industrialized nations, Americans experience, by many measures,
similar or worse health outcomes.  NCQA estimates that as many as
81,000 Americans die each year because they do not receive the
right care at the right time.

Under the proposed standards, PPOs seeking NCQA Accreditation
would be required to report clinical quality results using NCQA's
Health Plan Employer Data and Information Set(R), the most widely
used set of health care performance measures in the country.  
Plans would also be required to report results from the Consumer
Assessment of Healthcare Providers and Systems(R) which evaluates
patients' experience with care and service.

Today, nearly two-thirds of privately insured Americans --
accounting for more than 150 million people -- are enrolled in a
PPO.  In 2006, 80 PPOs voluntarily submitted HEDIS results to NCQA
but most plans do not engage in such efforts.  Collecting and
reporting performance data will allow consumers, employers, and
other purchasers of health care to easily compare the performance
of all plans and make the choices that best fit their needs.

The federal government has also recognized the need for wider
quality reporting.  Both Medicare and the Federal Employees Health
Benefits Program now require PPOs to report HEDIS data.  In
August, President Bush issued an Executive Order directing U.S.
agencies to advance an agenda of quality and price transparency in
health care.

"As we explore ways to rein in costs, we need to make sure we
don't take our eye off of the ball when it comes to quality.  That
means having comparable, reliable, quality information to inform
our decisions," Health and Human Services Secretary Michael O.
Leavitt said.  "Our goal is a health care system where there is
competition based on value -- the best quality at the lowest
price."

                 Measurement Leads to Improvement

To further tie accreditation to improved health, NCQA also
proposes to increase its emphasis on HEDIS and CAHPS in its health
plan accreditation programs.  Currently, HEDIS and CAHPS scores
represent approximately one-third of the score a health plan needs
to become accredited.  Beginning in 2008, that proportion would
rise sharply to 50%.

A decade of experience has conclusively demonstrated that the
collection and reporting of quality data often leads to dramatic
improvement in care.  For example, health plans that collect and
publicly report HEDIS results have saved as many as 83,000 lives
since 1999 by improving control of high blood pressure.

Consumer advocates have also been demanding more information about
the quality of care delivered in the U.S.  "Reporting against a
common set of quality measures does more than just let consumers
make informed comparisons -- it can make a real difference in
terms of health outcomes and quality of life," said Suzanne
Delbanco, Chief Executive Officer of the Leapfrog Group, which
works to improve the safety, quality and affordability of health
care.  "It's critical that consumers be aware of which plans
measure performance and which don't."

The nation's employers are also calling for change.  "The health
and well-being of our employees and their families is our most
precious investment," said Hassan Azar, J.D., M.H.S.A., Ford Motor
Company Manager of Healthcare Management.

"Requiring all plans to report quality is a bold step forward and
a boon to those of us that make contracting decisions.  That's why
Ford is asking all plans that haven't already earned NCQA
Accreditation to do so as soon as possible from today forward.  
It's just common sense."

Health plans have also been leading the movement toward change.  A
major participant in these efforts has been CIGNA, a provider of
health coverage to more than 9 million Americans nationwide.  
"CIGNA is proud to have led the market in PPO reporting by
submitting a full set of HEDIS data for 41 PPO markets in 2006,"
CIGNA Vice President for Quality Management Leslie Campbell said.  
"We'll do so again in 2007 as we bring our PPO plans forward for
NCQA Accreditation."

NCQA's public comment period will last from February 15 through
March 30 to allow health plans, employers, consumers and other
stakeholders to review the proposed changes and offer input.

Final standards will be released in July of this year and take
effect on July 1, 2008.  Interested parties are invited to comment
on the revised standards through March 30, 2007.

To download a copy of the standards and submit input, visit NCQA's
Web site at http://www.ncqa.org/

NCQA is a private, non-profit organization dedicated to improving
health care quality.  NCQA is the nation's leading developer of
health care evaluation tools including health plan accreditation,
physician recognition and organization certification.  NCQA also
is responsible for the evolution of HEDIS(R), the most widely used
set of health care performance measures.  NCQA is committed to
providing health care quality information through the Web, media
and data licensing agreements in order to help consumers,
employers and others make more informed health choices.

HEDIS(R) is a registered trademark of the National Committee for
Quality Assurance; CAHPS(R) is a registered trademark of the
Agency for Healthcare Research and Quality.  All rights reserved


* Kevin McElcheran Joins McCarthy Tetrault's Toronto Office
-----------------------------------------------------------
McCarthy Tetrault bolsters its national Bankruptcy & Restructuring
practice with the addition of Kevin McElcheran as a partner in the
firm's Toronto office effective today, Feb. 21.

Respected as a leading insolvency lawyer in Canada and
internationally, Mr. McElcheran is highly ranked internationally
and is certified by The Law Society of Upper Canada as a
specialist in bankruptcy and insolvency law.  He regularly acts
for debtors, creditors and other stakeholders in some of the
country's largest restructuring and insolvency cases and acts as
an insolvency advisor in complex securitization and derivatives
transactions.

"McCarthy Tetrault has one of the strongest bankruptcy and
restructuring teams in Canada," said Iain Scott, McCarthy
Tetrault's chairman and CEO.  "Kevin's arrival gives us a
heightened level of expertise in the area of major cross-border
restructurings and adds bench strength to our national Bankruptcy
& Restructuring Group, which recently added the Honourable James
Farley to its ranks."

Mr. McElcheran received his LLB from Queen's University in 1980
and was called to the Ontario bar in 1982.

With close to 700 lawyers practising in Canada's major financial
centres, as well as London, U.K., McCarthy Tetrault delivers
integrated business law, litigation, tax law, real property law,
and labour and employment law services nationally and globally.


* Upcoming Meetings, Conferences and Seminars
---------------------------------------------
Upcoming Meetings, Conferences and Seminars

February 2007
   AMERICAN BANKRUPTCY INSTITUTE
      International Insolvency Symposium
         San Juan, Puerto Rico
            Contact: 1-703-739-0800; http://www.abiworld.org/

February 22, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA PowerPlay - Atlanta Thrashers
         Philips Arena, Atlanta, GA
            Contact: 678-795-8103 or http://www.turnaround.org/

February 22, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA-NOW Networking & Panel: Discussing Women's Networking
         Issues
            PBI, Philadelphia, PA
               Contact: 215-657-5551 or http://www.turnaround.org/

February 25-26, 2007
   NORTON INSTITUTES
      Norton Bankruptcy Litigation Institute
         Marriott Park City, UT
            Contact: http://www2.nortoninstitutes.org

February 27, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Member Appreciation FREE Happy Hour
         Maggianos, Tampa, FL
            Contact: 561-882-1331 or http://www.turnaround.org/

February 27, 2007
   PRACTISING LAW INSTITUTE
      Intercreditor Agreements & Bankruptcy Issues Workshop
         San Francisco, CA
            Contact: www.pli.edu

February 27, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Devil Rays Turnaround
         Centre Club, Tampa, FL
            Contact: http://www.turnaround.org/

February 27-28, 2007
   EUROMONEY INSTITUTIONAL INVESTOR
      5th Annual Corporate Restructuring Summit
         Sheraton Park Lane Hotel, London, UK
            Contact: http://www.euromoneyplc.com/

March 1, 2007
   AMERICAN BANKRUPTCY INSTITUTE
      Nuts and Bolts for Young Practitioners - West
         Regency Beverly Wilshire, Los Angeles, CA
            Contact: http://www.abiworld.org/

March 2, 2007
   AMERICAN BANKRUPTCY INSTITUTE
      15th Annual Bankruptcy Battleground West
         Regency Beverly Wilshire, Los Angeles, CA
            Contact: http://www.abiworld.org/

March 6, 2007
   BEARD AUDIO CONFERENCES
      Distressed Claims Trading  
         Audio Conference Recording
            Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

March 14, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      The Great Debate
         Sydney, Australia
            Contact: http://www.turnaround.org/

March 14-15, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Atlanta, GA
         Contact: http://www.turnaround.org/

March 15, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      LI Turnaround Management Event
         Long Island, NY
            Contact: 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 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 20, 2007
   THOMSON WEST LEGALWORKS
      Insurance and Reinsurance Allocation Superbowl
         New York, NY
            Contact: http://www.westlegalworks.com/

March 21, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      The Next Wave of Distressed Businesses: A Panel Discussion
         South Florida
            Contact: http://www.turnaround.org/

March 21, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      South Florida Dinner
         TBA, South FL
            Contact: 561-882-1331 or http://www.turnaround.org/

March 27, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      "The Six Keys of Sustained Profitable Growth"
         Rodney Page, Senior Partner of Blue Springs Partners
            Citrus Club, Orlando, FL
               Contact: http://www.turnaround.org/

March 27-31, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Spring Conference
         Four Seasons
            Las Colinas, Dallas, TX
               Contact: http://www.turnaround.org/

March 29-31, 2007
   AMERICAN LAW INSTITUTE - AMERICAN BAR ASSOCIATION
      Chapter 11 Business Reorganizations
         Scottsdale, AZ
            Contact: 1-800-CLE-NEWS; http://www.ali-aba.org/

April 5, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Case Study "When Everything Goes Wrong"
         University of Florida, Gainesville, FL
            Contact: http://www.turnaround.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
   INTERNATIONAL WOMEN'S INSOLVENCY & RESTRUCTURING CONFEDERATION
      IWIRC 4th Spring Luncheon and Founders Awards
         Washington, DC
            Contact: http://www.iwirc.org/

April 12, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Luncheon University Club
      Jacksonville, FL
            Contact: 561-882-1331 or http://www.turnaround.org/

April 12, 2007
   AMERICAN BANKRUPTCY INSTITUTE
      Nuts and Bolts for Young Practitioners - East
         JW Marriott, Washington, DC
            Contact: http://www.abiworld.org/

April 19-20, 2007
   BEARD GROUP AND RENAISSANCE AMERICAN CONFERENCES
      Eighth Annual Conference on Healthcare Transactions
         Successful Strategies for Mergers, Acquisitions,
            Divestitures, and Restructurings
               The Millennium Knickerbocker Hotel - Chicago
                  Contact: 800-726-2524;
                  http://renaissanceamerican.com/

April 19, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Wine Tasting Social
         TBA, Long Island, NY
            Contact: 631-251-6296 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 24, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      "Why Prospects Become Clients"
         Mark Fitzgerald, President of Sales Training Institute
            Inc
               Centre Club, Tampa, FL
                  Contact: http://www.turnaround.org/

April 26, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Jacksonville Zoo Turnaround
         University Club, Jacksonville, FL
            Contact: http://www.turnaround.org/

April 26, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      1st Annual Credit & Bankruptcy Symposium Golf/Spa Outing
         Fox Hopyard Golf Club, East Haddam, CT
            Contact: 203-265-2048 or http://www.turnaround.org/

April 26, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Spa Outing
         Mohegan Sun, Uncasville, CT
            Contact: 203-265-2048 or http://www.turnaround.org/

April 26-27, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      1st Annual Credit & Bankruptcy Symposium
         Mohegan Sun, Uncasville, CT
            Contact: http://www.turnaround.org/

April 26-28, 2007
   ALI-ABA
      Fundamentals of Bankruptcy Law
         Philadelphia, PA
            Contact: http://www.ali-aba.org

April 29 - May 1, 2007
   INTERNATIONAL BAR ASSOCIATION
      International Insolvency Conference
         Zurich, Switzerland
            Contact: http://www.ibanet.org/

May 4, 2007
   AMERICAN BANKRUPTCY INSTITUTE
      Nuts and Bolts for Young Practitioners - NYC
         Alexander Hamilton US Custom House, SDNY
            New York, NY
               Contact: http://www.abiworld.org/

May 7, 2007
   AMERICAN BANKRUPTCY INSTITUTE
      9th Annual New York City Bankruptcy Conference
         Millennium Broadway Hotel & Conference Center
            New York, NY
               Contact: http://www.abiworld.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/

May 16, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Bankruptcy Judges Panel
         Marriott North, Fort Lauderdale, FL
            Contact: http://www.turnaround.org/

May 17-18, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      6th Annual Great Lakes Regional Conference
         Renaissance Quail Hollow Resort, Painesville, OH
            Contact: http://www.turnaround.org/

May 24-25, 2007
   BEARD GROUP AND RENAISSANCE AMERICAN CONFERENCES
      Fourth Annual Conference on Distressed Investing Europe
         Maximizing Profits in the European Distressed Debt Market
            Le Meridien Piccadilly Hotel - London, UK
               Contact: 800-726-2524;
               http://renaissanceamerican.com/

May 29, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Luncheon - Bankruptcy Judges Panel
         Citrus Club, Orlando, FL
            Contact: http://www.turnaround.org/

May 30-31, 2007
   FINANCIAL RESEARCH ASSOCIATES
      Distressed Debt
         Harvard Club, New York, NY
            Contact: http://www.frallc.com/

June 4-7, 2008
   ASSOCIATION OF INSOLVENCY & RESTRUCTURING ADVISORS
      24th Annual Bankruptcy & Restructuring Conference
         JW Marriott Spa and Resort, Las Vegas, NV
            Contact: http://http://www.airacira.org//

June 6-8, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      5th Annual Mid-Atlantic Regional Symposium
         Borgata Hotel Casino & Spa
            Atlantic City, NJ
               Contact: http://www.turnaround.org/

June 6-9, 2007
   ASSOCIATION OF INSOLVENCY & RESTRUCTURING ADVISORS
      23rd Annual Bankruptcy & Restructuring Conference
         Westin River North, Chicago, IL
            Contact: http://www.airacira.org/

June 14-17, 2007
   AMERICAN BANKRUPTCY INSTITUTE
      Central States Bankruptcy Workshop
         Grand Traverse Resort, Traverse City, MI
            Contact: 1-703-739-0800; http://www.abiworld.org/

June 21-22, 2007
   BEARD GROUP AND RENAISSANCE AMERICAN CONFERENCES
      Tenth Annual Conference on Corporate Reorganizations
         Successful Strategies for Restructuring Troubled
            Companies
               The Millennium Knickerbocker Hotel - Chicago
                  Contact: 800-726-2524;
                  http://renaissanceamerican.com/

June 26, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Luncheon - Bankruptcy Judges Panel
         Centre Club, Tampa, FL
            Contact: http://www.turnaround.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 - Bankruptcy Judges Panel
         University Club, Jacksonville, FL
            Contact: http://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/

July 25-28, 2007
   AMERICAN BANKRUPTCY INSTITUTE
      12th Annual Southeast Bankruptcy Workshop
         The Sanctuary, Kiawah Island, SC
            Contact: http://www.abiworld.org/

August 9-11, 2007
   AMERICAN BANKRUPTCY INSTITUTE
      3rd Annual Mid-Atlantic Bankruptcy Workshop
         Hyatt Regency Chesapeake Bay
            Cambridge, MD
            Contact: http://www.abiworld.org/

September 6-8, 2007
   AMERICAN BANKRUPTCY INSTITUTE
      15th Annual Southwest Bankruptcy Conference
         Four Seasons
            Las Vegas, NV
               Contact: http://www.abiworld.org/

August 23-26, 2007
   NATIONAL ASSOCIATION OF BANKRUPTCY JUDGES
      NABT Convention
         Drake Hotel, Chicago, IL
            Contact: http://www.nabt.com/

August 28, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Luncheon - Healthcare Panel
         Centre Club, Tampa, FL
            Contact: http://www.turnaround.org/

September 19, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Buying and Selling Troubled Companies
         Marriott North, Fort Lauderdale, FL
            Contact: 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/

September 25, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Luncheon - Retail Panel
         Citrus Club, Orlando, FL
            Contact: http://www.turnaround.org/

October 11, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Luncheon
         University Club, Jacksonville, 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, FL
            Contact: http://www.ncbj.org/

October 16-19, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Annual Convention
         Marriott Copley Place
            Boston, MA
               Contact: 312-578-6900; http://www.turnaround.org/

October 30, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Luncheon
         Centre Club, Tampa, FL
            Contact: 561-882-1331 or http://www.turnaround.org/

October 30, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Crisis Communications With Employees,Vendors and Media
         Centre Club, Tampa, FL
            Contact: http://www.turnaround.org/

November 14, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Dinner
         South FL
            Contact: 561-882-1331 or http://www.turnaround.org/

December 6-8, 2007
   AMERICAN BANKRUPTCY INSTITUTE
      Winter Leadership Conference
         Westin Mission Hills Resort, Rancho Mirage, CA
            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, FL
            Contact: http://www.turnaround.org/

April 3-6, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      26th Annual Spring Meeting
         The Renaissance, Washington, DC
            Contact: http://www.abiworld.org/

June 12-14, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      15th Annual Central States Bankruptcy Workshop
         Grand Traverse Resort and Spa, Traverse City, MI
            Contact: http://www.abiworld.org/

August 16-19, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      13th Annual Southeast Bankruptcy Workshop
         Ritz-Carlton, Amelia Island, FL
            Contact: http://www.abiworld.org/

September 24-27, 2008
   NATIONAL CONFERENCE OF BANKRUPTCY JUDGES
      National Conference of Bankruptcy Judges
         Scottsdale, AZ
            Contact: http://www.ncbj.org/

October 28-31, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Annual Convention
         Marriott New Orleans, LA
            Contact: 312-578-6900; http://www.turnaround.org/

December 4-6, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      20th Annual Winter Leadership Conference
         Westin La Paloma Resort & Spa
            Tucson, AZ
               Contact: http://www.abiworld.org/

October 5-9, 2009
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Annual Convention
         Marriott Desert Ridge, Phoenix, AZ
            Contact: 312-578-6900; http://www.turnaround.org/

2009 (TBA)
   NATIONAL CONFERENCE OF BANKRUPTCY JUDGES
      National Conference of Bankruptcy Judges
         Las Vegas, NV
            Contact: http://www.ncbj.org/

June 21-24, 2009
   INSOL
      8th International World Congress
         TBA
            Contact: http://www.insol.org/

October 4-8, 2010
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Annual Convention
         JW Marriott Grande Lakes, Orlando, FL
            Contact: http://www.turnaround.org/

2010 (TBA)
   NATIONAL CONFERENCE OF BANKRUPTCY JUDGES
      National Conference of Bankruptcy Judges
         New Orleans, LA
            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
      Changes to Cross-Border Insolvencies
         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
      Calpine's Chapter 11 Filing
         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
      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
      Employee Benefits and Executive Compensation under the
         New Code
            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
      Reverse Mergers-the New IPO?
         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
      High-Yield Opportunities in Distressed Investing
         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
      When Tenants File -- A Landlord's BAPCPA Survival Guide
         Audio Conference Recording
            Contact: 240-629-3300;   
            http://www.beardaudioconferences.com/

   BEARD AUDIO CONFERENCES
      Clash of the Titans -- Bankruptcy vs. IP Rights
         Audio Conference Recording
            Contact: 240-629-3300;   
            http://www.beardaudioconferences.com/

   BEARD AUDIO CONFERENCES
      Distressed Market Opportunities
         Audio Conference Recording
            Contact: 240-629-3300;   
            http://www.beardaudioconferences.com/

   BEARD AUDIO CONFERENCES
      Homestead Exemptions under BAPCPA
         Audio Conference Recording
            Contact: 240-629-3300;   
            http://www.beardaudioconferences.com/

   BEARD AUDIO CONFERENCES
      BAPCPA One Year On: Lessons Learned and Outlook
         Audio Conference Recording
            Contact: 240-629-3300;   
            http://www.beardaudioconferences.com/

   BEARD AUDIO CONFERENCES
      Surviving the Digital Deluge: Best Practices in E-Discovery
         and Records Management for Bankruptcy Practitioners and
            Litigators
               Audio Conference Recording
                  Contact: 240-629-3300;   
                  http://www.beardaudioconferences.com/

   BEARD AUDIO CONFERENCES
      Deepening Insolvency - Widening Controversy: Current Risks,
         Latest Decisions
            Audio Conference Recording
               Contact: 240-629-3300;   
               http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   KERPs and Bonuses under BAPCPA
      Audio Conference Recording
            Contact: 240-629-3300;   
            http://www.beardaudioconferences.com/

   BEARD AUDIO CONFERENCES
      Diagnosing Problems in Troubled Companies
         Audio Conference Recording
            Contact: 240-629-3300;   
            http://www.beardaudioconferences.com/

   BEARD AUDIO CONFERENCES
      Equitable Subordination and Recharacterization
         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.

                             *********

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, Shimero R. Jainga, Ronald C. Sy,
Joel Anthony G. Lopez, Cecil R. Villacampa, Jason A. Nieva,
Cherry A. Soriano-Baaclo, Melvin C. Tabao, Tara Marie A. Martin,
Frauline S. Abangan, and Peter A. Chapman, Editors.

Copyright 2007.  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 $775 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.

                    *** End of Transmission ***