TCR_Public/070224.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Saturday, Feb. 24, 2007, Vol. 11, No. 47

                             Headlines

ALLIED HOLDINGS: Posts $1.2 Million Net Loss in December 2006
CATHOLIC CHURCH: Davenport Files December 2006 Operating Report
DELTA AIR: Posts $1.8 Billion Net Loss in December 2006
FISCHER IMAGING: Posts $91,982 Net Loss in Period Ended Dec. 31
FLYI INC: Posts $795,412 Net Loss in January 2007

FLYI INC: Independence Air Earns $94,547 in January 2007
GRANITE BROADCASTING: Post $6MM Net Loss in 2 Months Ended Jan. 31
KUSHNER-LOCKE: Files July 2006 Monthly Operating Reports
KUSHNER-LOCKE: Files August 2006 Monthly Operating Reports
KUSHNER-LOCKE: Files September 2006 Monthly Operating Reports

KUSHNER-LOCKE: Files October 2006 Monthly Operating Reports
REFCO INC: Refco LLC Files December 2006 Monthly Operating Report
SAINT VINCENTS: Files December 2006 Monthly Operating Report
SEA CONTAINERS: Posts $7.3 Million Net Loss in December 2006

                             *********

ALLIED HOLDINGS: Posts $1.2 Million Net Loss in December 2006
-------------------------------------------------------------

                     Allied Holdings, Inc.
             Unaudited Consolidated Balance Sheet
                    As of December 31, 2006
                        (In Thousands)

                            Assets

Current Assets:
       Cash and cash equivalents                           $189
       Receivables, net of allowances                    49,496
       Related party receivables                         16,992
       Inventories                                        4,916
       Prepayments and other current assets              21,615
                                                      ---------
          Total current assets                           93,208

Property and equipment, net                             125,236
Goodwill, net                                             3,545
Deferred income taxes                                       127
Other noncurrent assets                                  24,402
Investment in related parties                            31,348
                                                      ---------
TOTAL ASSETS                                           $277,866
                                                      =========

             Liabilities and Stockholders' Deficit

Current liabilities not subject to compromise
        DIP facility                                   $161,357
        Accounts and notes payable                       27,091
        Accrued liabilities                              51,671
                                                      ---------
          Total current liabilities                    $240,119

Long-term liabilities not subject to compromise
        Postretirement benefits                          13,500
        Other long-term liabilities                      19,959
                                                      ---------
          Total long-term liabilities                    33,459

Liabilities subject to compromise                       198,916
Stockholders' deficit                                  (194,628)
                                                      ---------
       Total liabilities & stockholders' deficit       $277,866
                                                      =========

                     Allied Holdings, Inc.
        Unaudited Consolidated Statement of Operations
             For the Month Ended December 31, 2006
                        (In Thousands)

Revenues                                                $64,860

Operating Expenses
       Salaries, Wages & Fringe benefits                 32,997
       Operating supplies & expenses                     14,186
       Purchased transportation                           8,023
       Insurance & claims                                 3,945
       Operating tax & licenses                           2,011
       Depreciation & amortization                        2,830
       Rents                                                618
       Communications & utilities                           510
       Other operating expenses                             441
       Gain on disposal of operating assets, net         (3,036)
                                                      ---------
          Total Operating Expenses                       62,525
                                                      ---------
          Operating Income (Loss)                         2,335

Other Income (Expense)
       Interest expense                                  (1,746)
       Investment income                                     74
       Foreign exchange losses, net                      (1,314)
       Equity in earnings of subsidiaries                   254
                                                      ---------
                                                         (2,732)
                                                      ---------
Loss before reorganization items and income taxes          (397)
Reorganization items                                       (886)
                                                      ---------
Loss before income taxes                                 (1,283)
Income tax benefit                                           32
                                                      ---------
NET LOSS                                                ($1,251)
                                                      =========

The Debtors disclosed cash disbursements totaling $6,179,122
during December 2006.

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.  

The Debtors are currently asking the Court to extend their
exclusive plan filing period to April 25, 2007.  (Allied Holdings
Bankruptcy News, Issue No. 40; Bankruptcy Creditors' Service, Inc.
http://bankrupt.com/newsstand/or 215/945-7000)


CATHOLIC CHURCH: Davenport Files December 2006 Operating Report
---------------------------------------------------------------

                   Diocese of Davenport in Iowa
                  Statement of Financial Position
                      As of December 31, 2006

                              ASSETS

Cash and cash equivalents - unrestricted              $4,968,692
Cash and cash equivalents - restricted                 2,191,351
Accounts receivable, net                                  38,551
Inventory                                                      -
Prepaid expenses                                             155
Professional retainers                                    55,651
Real Property                                          4,549,430
Machinery and equipment                                    6,000
Furniture and fixtures                                     8,914
Office equipment                                          59,500
Leasehold improvements                                         -
Vehicles                                                  45,460
                                                   --------------
Total Assets                                         $11,923,704
                                                   ==============

                    LIABILITIES AND NET ASSETS

Liabilities:
     Prepetition
        Secured claims                                          -
        Priority unsecured claims                        $160,888
        General unsecured claims                        1,660,316
                                                   --------------
     Total Prepetition Liabilities                      1,821,204
                                                   --------------
     Postpetition
        Salaries and wages                                      -
        Payroll taxes                                           -
        Real and personal property taxes                        -
        Income taxes                                            -
        Sales taxes                                             -
        Notes payable, short term                               -
        Accounts payable, trade                             9,013
        Real property lease arrearage                           -
        Personal property lease arrearage                       -
        Accrued professional fees                               -
        Current portion of long-term debt                       -
        Pass-through collections                           50,960
                                                   --------------
     Total Postpetition Liabilities                        59,973
                                                   --------------
       Total Liabilities                                1,881,177
                                                   --------------
Equity (deficit):
     Equity (deficit) at time of filing:                5,795,187
     Capital stock                                              -
     Additional paid-in capital                                 -
     Cumulative profit/loss since filing                  613,921
     Post-petition contributions/distributions
        or draws                                                -
     Market value adjustment                            3,633,419
                                                   --------------
     Total equity (deficit)                            10,042,527
                                                   --------------
Total liabilities & equity (deficit)                 $11,923,704
                                                   ==============

                    Diocese of Davenport in Iowa
                      Statement of Operations
               For the month ending December 31, 2006

Revenues
     Gross sales                                             $155
     Less: sales returns & allowances                           -
     Net sales                                                155
     Less: cost of goods sold                                   -
     Gross profit                                             155
     Interest                                                   -
     Other income:
        Charitable gifts                                  279,240
        Insurance receipts                                 60,776
        Investment income                                  33,060
                                                   --------------
     Total revenues                                       373,231
                                                   --------------
Expenses:
     Compensation to owner(s)/officer(s)                   12,090
     Salaries                                              89,962
     Commissions                                                -
     Contract labor                                         3,440
     Rent/Lease:
        Personal property                                     400
        Real property                                           -
     Insurance                                            131,646
     Management fees                                            -
     Depreciation                                           5,945
     Taxes:
        Employer payroll taxes                              5,702
        Real property taxes                                     -
        Other taxes                                             -
     Other selling                                              -
     Other administrative                                  23,106
     Interest                                                   -
     Other expenses:
        Employee benefits                                  17,215
        Charity collection                                  2,000
        Medical assistance/Victim assistance               10,693
        Utilities                                           7,921
       Transfer to unrestricted                                 -
       Professional Investment Management Fees                  -
       Sabbatical                                               -
                                                   --------------
           Total expenses                                 310,120

     Reorganization items:
        Professional fees                                       -
        Provisions for rejected
           executory contracts                                  -
        Interest earned on accumulated cash
           from resulting Chapter 11 case                   8,101
        Gain or (Loss) from sale of equipment                   -
        U.S. Trustee quarterly fees                             -
                                                   --------------
           Total reorganization items                       8,101
                                                   --------------
Net profit (loss) before federal &
     state taxes                                           71,212
     Federal & state income taxes                               -
                                                   --------------
Net Profit (Loss)                                        $71,212
                                                   ==============

                  Diocese of Davenport in Iowa
             Statement of Cash Receipts and Disbursements
               For the month ending December 31, 2006

Cash receipts
     Rent/Leases collected                                 $4,217
     Cash received from sales                                 155
     Interest received                                      8,101
     Borrowings increase in accounts payable                    -
     Funds from shareholders, partners,
        or other insiders                                       -
     Capital contributions                                      -
     Annual diocesan appeal/donations                     279,240
     Investment income/misc.                                    -
     Insurance receipts                                    60,776
     Tribunal/Immigration/Faith Formation fees             28,842
     Decrease in prepaids/accounts receivable              21,581
     Misc/Increase in accounts payable                     15,878
                                                   --------------
     Total Cash Receipts                                 $418,790
                                                   ==============

Cash disbursements:
     Payments for inventory                                     -
     Selling                                                    -
     Administrative                                       $28,548
     Capital expenditures                                       -
     Principal payments on debt                                 -
     Interest paid                                              -
     Rent/Lease:
        Personal Property                                     400
        Real Property                                           -
     Amount paid to owner(s)/officer(s)
        Salaries                                           12,090
        Draws                                                   -
        Commissions/Royalties                                   -
        Expense Reimbursements                                  -
        Other                                                   -
     Salaries/Commissions (less employee
        withholding                                        68,341
     Management fees                                            -
     Taxes
        Employee withholding                               21,621
        Employer payroll taxes                              5,701
        Real property taxes                                     -
        Other taxes                                             -
     Other cash outflows:
        Insurance                                         131,646
        Utilities                                           7,921
        Medical Assistance                                 10,693
        Employee Benefits                                  17,215
        Misc/Decrease in Accts Payable/Increase
          in receivables                                   26,548
                                                   --------------
     Total Cash Disbursements                            $330,724
                                                   --------------
Net increase (decrease) in cash                           88,066

Cash balance, beginning of period                      1,038,584

Cash balance, end of period                           $1,126,650
                                                   ==============

The Diocese of Davenport in Iowa filed for chapter 11 protection
(Bankr. S.D. Ia. Case No. 06-02229) on October 10, 2006.
Richard A. Davidson, Esq., at Lane & Waterman LLP, represents the
Davenport Diocese in its restructuring efforts.  Hamid R.
Rafatjoo, Esq., and Gillian M. Brown, Esq., of Pachulski Stang
Zhiel Young Jones & Weintraub LLP represent the Official Committee
of Unsecured Creditors.  In its schedules of assets and
liabilities, the Davenport Diocese reported $4,492,809 in assets
and $1,650,439 in liabilities.  (Catholic Church Bankruptcy News,
Issue No. 80; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).

                   
DELTA AIR: Posts $1.8 Billion Net Loss in December 2006
-------------------------------------------------------

                       DELTA AIR LINES, INC.
          Unaudited Condensed Consolidated Balance Sheets
                      As of December 31, 2006

                              ASSETS

Current assets:
   Cash and cash equivalents                     $2,034,000,000
   Short-term investments                           614,000,000
   Restricted cash                                  750,000,000
   Accounts receivable, net                         915,000,000
   Expendable parts & supplies inventories, net     181,000,000
   Prepaid expenses & other                         891,000,000
                                                ---------------
Total current assets                             $5,385,000,000

Property and equipment:
   Flight equipment                              17,641,000,000
   Accumulated depreciation                      (6,800,000,000)
                                                ---------------
   Flight equipment, net                         10,841,000,000

   Ground property & equipment                    4,575,000,000
   Accumulated depreciation                      (2,838,000,000)
                                                ---------------
   Ground property and equipment, net             1,737,000,000

   Flight & ground equipment under capital lease    474,000,000
   Accumulated amortization                        (136,000,000)
                                                ---------------
   Flight & ground equipment under capital lease    338,000,000

   Advance payments for equipment                    57,000,000
                                                ---------------
Total property & equipment, net                  12,973,000,000

Other assets:
   Goodwill                                         227,000,000
   Operating rights & other intangibles, net         89,000,000
   Other noncurrent assets                          948,000,000
                                                ---------------
Total other assets                                1,264,000,000
                                                ---------------
Total assets                                    $19,622,000,000
                                                ===============

               LIABILITIES AND SHAREOWNERS' DEFICIT

Current liabilities:
   Current maturities of long-term debt
      & capital lease obligations                $1,503,000,000
   Accounts payable & other liabilities           1,564,000,000
   Air traffic liability                          1,797,000,000
   Taxes payable                                    500,000,000
   Accrued salaries and related benefits            405,000,000
                                                ---------------
Total current liabilities                         5,769,000,000

Noncurrent liabilities:
   Long-term debt & capital leases                6,509,000,000
   Deferred revenue & credits                       346,000,000
   Other                                            774,000,000
                                                ---------------
Total noncurrent liabilities                      7,629,000,000

Liabilities Subject to Compromise                19,817,000,000

Commitments and Contingencies

Shareholders' Deficit:
   Common stock                                       2,000,000
   Additional paid-in capital                     1,561,000,000
   Accumulated deficit                          (14,414,000,000)
   Accumulated other comprehensive loss            (518,000,000)
   Treasury stock                                  (224,000,000)
                                                ---------------
Total common stockholders' deficit              (13,593,000,000)
                                                ---------------
Total Liabilities &
   Stockholders' Equity (deficit)               $19,622,000,000
                                                ===============

                       DELTA AIR LINES, INC.
          Unaudited Consolidated Statement of Operations
               For the Month Ended December 31, 2006

OPERATING REVENUES:
Passenger:
   Mainline                                        $917,000,000
   Regional affiliates                              286,000,000
Cargo                                                43,000,000
Other, net                                           96,000,000
                                                ---------------
Total operating revenues                          1,342,000,000

OPERATING EXPENSES:
Aircraft fuel                                       340,000,000
Salaries and related costs                          296,000,000
Contract carrier arrangements                       226,000,000
Depreciation and amortization                       165,000,000
Contracted services                                 101,000,000
Passenger commissions and other selling expenses     72,000,000
Landing fees and other rents                         60,000,000
Aircraft maintenance materials and outside repairs   46,000,000
Passenger service                                    26,000,000
Aircraft rent                                        24,000,000
Restructuring, asset writedowns, pension
   settlements and related items, net                (6,000,000)
Other                                                29,000,000
                                                ---------------
Total operating expenses                          1,379,000,000
                                                ---------------
OPERATING INCOME                                    (37,000,000)
                                                ---------------
OTHER INCOME (EXPENSE):
Interest expense (contractual interest
   expense equals $94 for the month ended
   December 31, 2006)                               (68,000,000)
Interest income                                       8,000,000
Miscellaneous, net                                  (12,000,000)
                                                ---------------
Total other expense, net                            (72,000,000)
                                                ---------------
LOSS BEFORE REORGANIZATION ITEMS, NET              (109,000,000)

REORGANIZATION ITEMS, NET                        (2,460,000,000)
                                                ---------------
LOSS BEFORE INCOME TAXES                         (2,569,000,000)

INCOME TAX BENEFIT                                  725,000,000
                                                ---------------
NET LOSS                                        ($1,844,000,000)
                                                ===============

                       DELTA AIR LINES, INC.
     Unaudited Condensed Consolidated Statement of Cash Flows
               For the Month ended December 31, 2006

NET CASH USED BY OPERATING ACTIVITIES             ($169,000,000)

CASH FLOWS FROM INVESTING ACTIVITIES:
Property and equipment additions:
   Flight equipment, including
      advance payments                              (32,000,000)
   Ground property and equipment                    (22,000,000)
Proceeds from sale of flight equipment                6,000,000
Change in restricted investments related to
   Boston airport terminal project                   (2,000,000)
Decrease in restricted investments, net             238,000,000
                                                ---------------
Net cash provided by investing activities           188,000,000

CASH FLOWS FROM FINANCING ACTIVITIES:
Payments on long-term debt and
   capital lease obligations                        (51,000,000)
                                                ---------------
Net cash used by financing activities               (51,000,000)
                                                ---------------
Net decrease in cash and cash equivalents           (32,000,000)

Cash & cash equivalents at beginning of period    2,066,000,000

Cash & cash equivalents at end of period         $2,034,000,000
                                                ===============

Headquartered in Atlanta, Georgia, Delta Air Lines (OTC: DALRQ)
-- http://www.delta.com/-- is the world's second-largest airline
in terms of passengers carried and the leading U.S. carrier across
the Atlantic, offering daily flights to 502 destinations in 88
countries on Delta, Song, Delta Shuttle, the Delta Connection
carriers and its worldwide partners.  The Company and 18
affiliates filed for chapter 11 protection on Sept. 14, 2005
(Bankr. S.D.N.Y. Lead Case No. 05-17923).  Marshall S. Huebner,
Esq., at Davis Polk & Wardwell, represents the Debtors in their
restructuring efforts.  Timothy R. Coleman at The Blackstone Group
L.P. provides the Debtors with financial advice.  Daniel H.
Golden, Esq., and Lisa G. Beckerman, Esq., at Akin Gump Strauss
Hauer & Feld LLP, provide the Official Committee of Unsecured
Creditors with legal advice.  John McKenna, Jr., at Houlihan Lokey
Howard & Zukin Capital and James S. Feltman at Mesirow Financial
Consulting, LLC, serve as the Committee's financial advisors.  As
of June 30, 2005, the company's balance sheet showed $21.5 billion
in assets and $28.5 billion in liabilities.

The Debtors filed their Chapter 11 Plan and Disclosure Statement
on Dec. 19, 2006.  The Court declared that the Disclosure
Statement contained adequate information and approved the
Disclosure Statement on Feb. 7, 2007.  The confirmation hearing
for the Plan is scheduled on April 25, 2007.  (Delta Air Lines
Bankruptcy News, Issue No. 62; Bankruptcy Creditors' Service,
Inc., http://bankrupt.com/newsstand/or 215/945-7000)


FISCHER IMAGING: Posts $91,982 Net Loss in Period Ended Dec. 31
---------------------------------------------------------------
Fischer Imaging Corp. filed its monthly operating report
for January 2007 with the United States Bankruptcy Court for the
District of Colorado on Feb. 5, 2007.

The Debtor reported a net loss of $91,981 from zero revenue for
the month ended Jan. 31, 2007.  

At Jan. 31, 2007, Fischer Imaging Corp.'s balance sheet showed:

        Total Current Assets                  $2,573,771
        Total Assets                          $3,297,414
        Total Liabilities                     $1,862,227
        Total Owners' Equity                  $1,435,187

For the month from Jan. 1, 2007, through Jan. 31, 2007, Fischer
Imaging Corp.'s Cash Receipts and Disbursement Report show:
   
        Beginning Balance                     $2,087,050
        Total Receipts                            54,333
        Total Disbursements                       88,249  
        Ending Balance                        $2,053,134

A full-text copy of Fischer Imaging Corp.'s January 2007 Monthly
Operating Report is available at no charge at:
                                  
                http://researcharchives.com/t/s?1a4e

Fischer Imaging Corporation -- http://www.fischerimaging.com/--   
services and manufactures medical imaging systems for the
screening and diagnosis of disease.  The company began producing
general-purpose x-ray imaging systems in 1910 and is the oldest
manufacturer of x-ray imaging devices in the United States.  The
Company filed for chapter 11 protection on Aug. 22, 2006 (Bankr.
D. Colo. Case No. 06-15611).  Douglas W. Jessop, Esq., at Jessop &
Company, P.C., represents the Debtor in its restructuring efforts.
When it filed for protection from its creditors, it listed
$2,235,414 in total assets and $26,104 in total debts.


FLYI INC: Posts $795,412 Net Loss in January 2007
-------------------------------------------------

                             FLYi Inc.
                    Consolidated Balance Sheet
                      As of January 31, 2007

                              ASSETS

Current assets
   Cash                                              $1,234,291
   Short term investments                                     -
   Net accounts receivable                          379,627,803
   IC Notes receivable                                4,252,000
                                                  -------------
   Total Current Assets                             385,114,094
                                                  -------------
Other assets
   Restricted cash                                            -
   Long term investments                                      -
   Property and eqpt., net of depreciation            7,435,000
   Other assets                                      14,055,412
                                                  -------------
   Total Other Assets                                21,490,412
                                                  -------------
   TOTAL ASSETS                                    $406,604,506
                                                  =============

               TOTAL LIABILITIES AND OWNER'S EQUITY

Liabilities not subject to compromise
Liabilities subject to compromise
   Secured debt                                               -
   Priority debt                                              -
   Unsecured debt                                  $253,101,401
                                                  -------------
   Total Liabilities                                253,101,401
                                                  -------------
Owner Equity
   Common stock                                       1,088,716
   Additional paid in capital                       158,254,512
   Treasury stock                                   (35,717,477)
   Prepetition retained earnings                     39,858,773
   Postpetition retained earnings                    (9,981,419)
                                                  -------------
   Net Owners' Equity                               153,503,105
                                                  -------------
   TOTAL LIABILITIES AND OWNER'S EQUITY            $406,604,506
                                                  =============

                             FLYi Inc.
                     Statement of Operations
                          January 2007

Revenues                                                      -
Operating Expense                                          $579
                                                  -------------
Net Profit (Loss) before Other Income & Expenses           (579)

Other (income) expenses
   Interest income                                       (4,667)
   Interest expense                                           -
   Other miscellaneous                                        -
                                                  -------------
Net Profit (Loss) before reorganization items             4,088

Reorganization items
   Professional fees                                    799,500
   U.S. Trustee Quarterly Fees                                -
   Income Taxes                                               -
                                                  -------------
Net Profit (Loss)                                     ($795,412)
                                                  =============

Headquartered in Dulles, Virginia, FLYi, Inc., aka Atlantic Coast
Airlines Holdings, Inc. -- http://www.flyi.com/-- is the parent     
of Independence Air Inc., a small airline based at Washington
Dulles International Airport.  The Debtor and its six affiliates
filed for chapter 11 protection on Nov. 7, 2005 (Bankr. D. Del.
Case Nos. 05-20011 through 05-20017).  Brendan Linehan Shannon,
Esq., M. Blake Cleary, Esq., and Matthew Barry Lunn, Esq., at
Young, Conaway, Stargatt & Taylor, represent the Debtors in their
restructuring efforts.  Brett H. Miller, Esq., at Otterbourg,
Steindler, Houston & Rosen, P.C., represents the Official
Committee of Unsecured Creditors.  As of Sept. 30, 2005, the
Debtors listed assets totaling $378,500,000 and debts totaling
$455,400,000.  (FLYi Bankruptcy News, Issue No. 34; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or     
215/945-7000).


FLYI INC: Independence Air Earns $94,547 in January 2007
--------------------------------------------------------

                       Independence Air Inc.
                    Consolidated Balance Sheet
                      As of January 31, 2007

                              ASSETS

Current assets
   Cash                                             $42,062,259
   Short term investments                           105,450,000
   Restricted cash                                    1,499,339
   Net accounts receivable                          100,297,918
   Net expandable parts and fuel                         37,661
   Prepaid expenses and other current assets          4,197,020
   Deferred tax asset                                        (1)
                                                  -------------
Total current assets                                253,544,196
                                                  -------------
Other assets
   Restricted cash                                    3,116,876
   Net depreciation, property and equipment                   -
   Aircraft deposits                                 11,112,000
   Other assets                                         419,643
                                                  -------------
Total other assets                                   14,648,519
                                                  -------------
   TOTAL ASSETS                                    $268,192,715
                                                  =============
                   LIABILITIES & OWNERS' EQUITY

Liabilities not subject to compromise
   Accounts payable                                  $3,544,796
   Air traffic liability                                833,822
   Accrued liabilities                                1,916,401
   Amounts due to insiders                               53,334
                                                  -------------
Total Postpetition Liabilities                        6,348,353
                                                  -------------

Liabilities subject to compromise
   Secured debt                                       1,000,128
   Priority debt                                     10,482,516
   Unsecured debt                                   391,992,724
   Other accruals                                    12,128,934
                                                  -------------
Total prepetition liabilities                       415,604,302
                                                  -------------
Total Liabilities                                   421,952,655
                                                  -------------
Owner Equity
   Common stock                                               -
   Treasury stock                                     7,435,000
   Owner's equity account                                     -
   Prepetition retained earnings                   (257,846,546)
   Postpetition retained earnings                    96,651,606
                                                  -------------
Net Owners' Equity                                 (153,759,940)
                                                  -------------
   TOTAL LIABILITIES AND OWNER'S EQUITY            $268,192,715
                                                  =============

                       Independence Air Inc.
                     Statement of Operations
                          January 2007

Revenues
Operating Revenue
   Passenger revenue                                         $0
   Other revenue                                              -
                                                  -------------
Total operating revenues                                      -
                                                  -------------
Operating expenses
Insider compensation                                     13,334
   Wages                                                365,813
   Fringes and benefits                                  28,605
   Aircraft fuel                                              -
   Aircraft maintenance and materials                   (28,275)
   Traffic Commissions                                  (47,064)
   CRS Fees                                            (399,786)
   Facilities rents                                    (237,522)
   Landing fees                                               -
   Depreciation and amortization                              -
   Others                                                11,551
   Retirement & restructuring charge                     26,650
                                                  -------------
Total operating expense                                (266,695)
                                                  -------------
Net operating income (loss)                             266,695
                                                  -------------
Net Profit (Loss) before other income & expenses        266,695
                                                  -------------
Other (income) expenses
   Interest income                                     (631,204)
   Interest expense                                       2,888
   Other miscellaneous                                        -
                                                  -------------
   Total other (income) expense                        (628,316)
                                                  -------------
Net Profit (Loss) before reorganization items           895,011
                                                  -------------
Reorganization items
   Professional fees                                    799,500
   U.S. Trustee Quarterly Fees                                -
   Income Taxes                                             964
                                                  -------------
Net Profit (Loss)                                       $94,547
                                                  =============

Headquartered in Dulles, Virginia, FLYi, Inc., aka Atlantic Coast
Airlines Holdings, Inc. -- http://www.flyi.com/-- is the parent     
of Independence Air Inc., a small airline based at Washington
Dulles International Airport.  The Debtor and its six affiliates
filed for chapter 11 protection on Nov. 7, 2005 (Bankr. D. Del.
Case Nos. 05-20011 through 05-20017).  Brendan Linehan Shannon,
Esq., M. Blake Cleary, Esq., and Matthew Barry Lunn, Esq., at
Young, Conaway, Stargatt & Taylor, represent the Debtors in their
restructuring efforts.  Brett H. Miller, Esq., at Otterbourg,
Steindler, Houston & Rosen, P.C., represents the Official
Committee of Unsecured Creditors.  As of Sept. 30, 2005, the
Debtors listed assets totaling $378,500,000 and debts totaling
$455,400,000.  (FLYi Bankruptcy News, Issue No. 34; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or     
215/945-7000).


GRANITE BROADCASTING: Post $6MM Net Loss in 2 Months Ended Jan. 31
------------------------------------------------------------------

                Granite Broadcasting Corporation
          Unaudited Condensed Consolidated Balance Sheet
                      As of January 31, 2007

                              ASSETS

Current assets:
   Cash and cash equivalents                         $16,060,854
   Accounts receivable, net
     less allowance for doubtful accounts
     of $540,605                                      19,838,860
   Current portion of film contract rights             8,070,168
   Other current assets                                9,525,015
                                                    ------------
     Total current assets                             53,494,897

   Restricted cash equivalents                         1,000,000
   Property and equipment, net                        54,607,206
   Film contract rights, net
     of current portion                                8,817,697
   Other non current assets                            2,232,382
   Deferred financing fees, less
     accumulated ammortization
     of $10,687,685                                    9,545,454
   Intangible assets, net                            299,688,060
                                                    ------------
   Total Assets                                     $429,385,696
                                                    ============

               LIABILITIES AND STOCKHOLDERS' DEFICIT

Current Liabilities:
   Accounts Payable                                     $953,236
   Other accrued liabilities                           6,043,228
   Current portion of film contract
     rights payable                                    8,357,982
   Current portion of long-term debt                   3,943,000
   Other current liabilities                           2,858,138
                                                    ------------
     Total current liabilities not
     subject to compromise                            22,155,584

   Long-term debt, net of current portion             22,443,547
   Film contract rights payable, net of
     current portion                                  14,485,287
   Deferred tax liability                             49,006,509
   Other non current liabilities                       3,823,879
     Total liabilities not subject
     to compromise                                  ------------
                                                     111,914,806

   Liabilities subject to compromise                 530,770,416

   Redeemable preferred stock                        199,546,412
   Accrued dividends on redeemable
     preferred stock                                 120,003,907

Stockholders' deficit:
   Common stock                                          199,572
   Additional paid-in capital                            486,118
   Accumulated deficit                              (532,659,860)
   Treasury stock, at cost                              (875,675)
                                                    ------------
     Total stockholders' deficit                    (532,849,845)
                                                    ------------
Total liabilities and stockholders' deficit         $429,385,696
                                                    ============

               Granite Broadcasting Corporation
    Unaudited Condensed Consolidated Statement of Operations
          From December 1, 2006 through January 31, 2007

Net revenues                                         $19,002,975

Station operating expenses                            15,794,744
Corporate expense                                      1,522,245
Depreciation                                           1,504,498
Amortization of intangible assets                        568,852
                                                    ------------
   Operating loss                                       (387,364)

Other expenses (income):
   Interest expense                                    3,538,117
   Interest income                                       (23,153)
   Non-cash interest expense                             489,918
   Non-cash preferred stock dividend                     780,633
   Other                                                  93,920
                                                    ------------
Loss before reorganization items                      (5,266,799)

   Reorganization items                                1,614,252
                                                    ------------
Net loss                                             ($6,881,051)
                                                    ============

                Granite Broadcasting Corporation
     Unaudited Condensed Consolidated Statement of Cash Flows
          From December 1, 2006 through January 31, 2007

Cash flows from operating activities:
Net loss                                             ($6,881,051)

Adjustments to reconcile net loss to net
cash provided by (used in) operating
activities:
   Amortization of intangible assets                     568,852
   Depreciation                                        1,504,498
   Non-cash compensation expense                         (50,186)
   Non-cash interest expense                             489,918
   Non-cash preferred stock dividend                     780,633
   Film amortization                                   1,969,726
   Loss on sale of equipment                             194,027
Change in assets and liabilities:
   Decrease in accounts receivable                     2,070,165
   Increase in accrued liabilities                     2,565,528
   Increase in accounts payable                          924,366
   Increase in film contract rights and
     other assets                                       (989,891)
   Decrease in film contract rights payable
     and other liabilities                            (1,027,110)
                                                    ------------
     Net cash provided by operating
     activities                                        2,119,475
                                                    ------------
Cash flows from investing activities:
   Capital expenditures                                   96,603
                                                    ------------
     Net cash provided by investing
     activities                                           96,603
                                                    ------------

Cash flows from financing activities
   Payment of Malara Broadcast Group
     senior credit facility                             (333,784)
   Payment of deferred financing fees                 (1,037,469)
                                                    ------------
     Net cash used in financing activities            (1,371,253)

Net increase in cash and cash equivalents                844,825
Cash and cash equivalents, beginning of
   period                                             16,216,029
                                                    ------------
Cash and cash equivalents, end of period             $17,060,854
                                                    ============

Headquartered in New York, Granite Broadcasting Corp.
-- http://www.granitetv.com/-- owns and operates, or provides   
programming, sales and other services to 23 channels in 11
markets: San Francisco, California; Detroit, Michigan; Buffalo,
New York; Fresno, California; Syracuse, New York; Fort Wayne,
Indiana; Peoria, Illinois; Duluth, Minnesota-Superior, Wisconsin;
Binghamton, New York; Utica, New York and Elmira, New York.  The
company's channel group includes affiliates of NBC, CBS, ABC, CW
and My Network TV, and reaches approximately 6% of all U.S.
television households.

The company and five of its debtor-affiliates filed for chapter 11
protection on Dec. 11, 2006 (Bankr. S.D.N.Y. Case No. 06-12984).
Ira S. Dizengoff, Esq., at Akin, Gump, Strauss, Hauer & Feld, LLP,
represents the Debtors in their restructuring efforts.  When the
Debtors filed for protection from their creditors, it estimated
assets of $443,563,020 and debts of $641,100,000. (Granite
Broadcasting Corp. Bankruptcy News, Issue No. 12; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or    
215/945-7000).


KUSHNER-LOCKE: Files July 2006 Monthly Operating Reports
--------------------------------------------------------
On Jan. 26, 2007, The Kushner-Locke Company and its debtor-
affiliates filed their July 2006 Monthly Operating Reports with
the U.S. Bankruptcy Court for the Central District of California,
Los Angeles Division.

For the month ending July 31, 2006, The Kushner-Locke Company's
Profit & Loss Statement shows:

      Gross Profit                           $0
      Total Operating Expenses          $35,870
      Total Non-Operating Expenses        5,750
      Net Income (Loss)                ($41,620)

For the period from July 1, 2006, through July 31, 2006, The
Kushner-Locke Company's Cash Receipts and Disbursements Report
shows:

                   Collateral   Concentration     City National
                     Account       Account      Collection Account
                   ----------   -------------   ------------------
Beginning Balance   $1,792,813       $ 70,593        $593,074
Total Receipts         107,995        120,000           1,978
Total Disbursements    120,000         41,570              50
Ending Balance      $1,780,808       $149,023        $595,002
   
Full-text copies of The Kushner-Locke Company's July 2006
Monthly Operating Reports are available at no charge at:

   Profit & Loss Statement:

               http://researcharchives.com/t/s?1a3e

   Cash Receipts and Disbursements Report:

               http://researcharchives.com/t/s?1a44

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


KUSHNER-LOCKE: Files August 2006 Monthly Operating Reports
----------------------------------------------------------
On Jan. 26, 2007, The Kushner-Locke Company and its debtor-
affiliates filed their August 2006 Monthly Operating Reports with
the U.S. Bankruptcy Court for the Central District of California,
Los Angeles Division.

For the month ending Aug. 31, 2006, The Kushner-Locke Company's
Profit & Loss Statement shows:

      Gross Profit                           $0
      Total Operating Expenses          $95,409
      Total Non-Operating Expenses       23,223
      Net Income (Loss)               ($118,632)

For the period from Aug. 1, 2006, through Aug. 31, 2006, The
Kushner-Locke Company's Cash Receipts and Disbursements Report
shows:

                    Collateral   Concentration    City National
                      Account       Account     Collection Account
                    ----------  -------------   ------------------
Beginning Balance   $1,780,808       $149,023        $595,002
Total Receipts          72,132         80,000          14,778    
Total Disbursements     80,000        118,582              50            
Ending Balance      $1,772,940       $110,441        $609,730      

Full-text copies of The Kushner-Locke Company's August 2006
Monthly Operating Reports are available at no charge at:

   Profit & Loss Statement:
               
               http://researcharchives.com/t/s?1a3f

   Cash Receipts and Disbursements Report:

               http://researcharchives.com/t/s?1a45

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


KUSHNER-LOCKE: Files September 2006 Monthly Operating Reports
-------------------------------------------------------------
On Jan. 26, 2007, The Kushner-Locke Company and its debtor-
affiliates filed their September 2006 Monthly Operating Reports
with the U.S. Bankruptcy Court for the Central District of
California, Los Angeles Division.

For the month ending Sept. 30, 2006, The Kushner-Locke Company's
Profit & Loss Statement shows:

      Gross Profit                           $0
      Total Operating Expenses          $89,603
      Total Non-Operating Expenses        2,763
      Net Income (Loss)                ($92,366)

For the period from Sept. 1, 2006, through Sept. 30, 2006, The
Kushner-Locke Company's Cash Receipts and Disbursements Report
shows:

                    Collateral   Concentration     City National
                      Account       Account     Collection Account
                    ----------  -------------   ------------------
Beginning Balance   $1,772,940       $110,441        $609,730
Total Receipts          65,735         80,000          13,030
Total Disbursements     80,000         77,718          14,648
Ending Balance      $1,758,675       $112,723        $608,112
   
Full-text copies of The Kushner-Locke Company's September 2006
Monthly Operating Reports are available at no charge at:

   Profit & Loss Statement:

               http://researcharchives.com/t/s?1a40

   Cash Receipts and Disbursements Report:

               http://researcharchives.com/t/s?1a46

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


KUSHNER-LOCKE: Files October 2006 Monthly Operating Reports
-----------------------------------------------------------
On Jan. 26, 2007, The Kushner-Locke Company and its debtor-
affiliates filed their October 2006 Monthly Operating Reports with
the U.S. Bankruptcy Court for the Central District of California,
Los Angeles Division.

For the month ending Oct. 31, 2006, The Kushner-Locke Company's
Profit & Loss Statement shows:

      Gross Profit                           $0
      Total Operating Expenses         $156,758
      Total Non-Operating Expenses      263,474
      Net Income (Loss)               ($420,232)

For the period from Oct. 1, 2006, through Oct. 31, 2006, The
Kushner-Locke Company's Cash Receipts and Disbursements Report
shows:

                    Collateral   Concentration     City National
                      Account       Account     Collection Account
                    ----------  -------------   ------------------
Beginning Balance   $1,758,675       $112,723        $608,112
Total Receipts          51,061        326,000           4,842    
Total Disbursements    419,060        327,122              50            
Ending Balance      $1,390,676       $111,601        $612,904      

Full-text copies of The Kushner-Locke Company's October 2006
Monthly Operating Reports are available at no charge at:

   Profit & Loss Statement:

               http://researcharchives.com/t/s?1a41

   Cash Receipts and Disbursements Report:

               http://researcharchives.com/t/s?1a47

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


REFCO INC: Refco LLC Files December 2006 Monthly Operating Report
-----------------------------------------------------------------
In lieu of comprehensive financial statements, Albert Togut, the
Chapter 7 Trustee appointed to oversee the liquidation of Refco,
LLC's estate, filed with the U.S. Bankruptcy Court for the
Southern District of New York a monthly statement of cash receipts
and disbursements for the period from Dec. 1 to 31, 2006.

The Chapter 7 Trustee reports that Refco LLC's beginning balance
as of December 1 totals $620,450,000.  The Debtor's beginning
purchase price account balance totals $21,927,000, and its
beginning capital account "A" balance totals $598,523,000.
  
The purchase price account includes activity related to Man
Financial, Inc., sale proceeds and related disbursements.  Capital
account "A" includes activity related to collection of excess
capital.
  
Refco LLC received $6,773,000 in cash and disbursed $6,808,000
for the Reporting Period.  The Debtor held $620,415,000 at the
end of the period.

A full-text copy of Refco LLC's December 2006 Monthly Statement
is available at no charge at http://researcharchives.com/t/s?1a3d

Based in New York, Refco Inc. -- http://www.refco.com/-- is a
diversified financial services organization with operations in 14
countries and an extensive global institutional and retail client
base.  Refco's worldwide subsidiaries are members of principal
U.S. and international exchanges, and are among the most active
members of futures exchanges in Chicago, New York, London and
Singapore.  In addition to its futures brokerage activities, Refco
is a major broker of cash market products, including foreign
exchange, foreign exchange options, government securities,
domestic and international equities, emerging market debt, and OTC
financial and commodity products.  Refco is one of the largest
global clearing firms for derivatives.

The Company and 23 of its affiliates filed for chapter 11
protection on Oct. 17, 2005 (Bankr. S.D.N.Y. Case No. 05-60006).
J. Gregory Milmoe, Esq., at Skadden, Arps, Slate, Meagher & Flom
LLP, represent the Debtors in their restructuring efforts.  Luc
A. Despins, Esq., at Milbank, Tweed, Hadley & McCloy LLP,
represents the Official Committee of Unsecured Creditors.  Refco
reported $16.5 billion in assets and $16.8 billion in debts
to the Bankruptcy Court on the first day of its chapter 11
cases.  The Debtors' Amended Plan was confirmed on Dec. 15, 2006.
(Refco Bankruptcy News, Issue No. 57; Bankruptcy Creditors'
Service Inc., http://bankrupt.com/newsstand/or 215/945-7000).


SAINT VINCENTS: Files December 2006 Monthly Operating Report
------------------------------------------------------------

                         SVCMC Debtors
             Unaudited Consolidated Balance Sheet
                    As of December 31, 2006

                            ASSETS

Cash & Cash Equivalents                             $29,235,249
Patients Accounts Receivable, less allowance for
   doubtful accounts                                147,871,555
Accounts Receivable                                  47,717,135
Other Current Assets                                 29,395,493
Assets Held for Sale                                 70,544,197
                                                 --------------
   Total Current Assets                             324,763,629

Depreciation Reserve Funds & Collaterized Assets     10,825,874
Assets Designated for Self-Insurance
   Investments at Market                             45,093,034
Assets whose use is limited -
   Investments at Market                             59,128,409
Other Non-Current Assets                             13,433,385
Land, Buildings & Equipment, net of
   Accumulated Depreciation                         131,509,455
                                                 --------------
    Total Assets                                   $584,753,786
                                                 ==============

                  LIABILITIES AND NET ASSETS

Liabilities Not Subject to Compromise:
   Long-Term Debt                                   $95,742,032
   Long-Term Debt (GE)                              145,901,647
   Accounts Payable & Accrued Expenses              134,906,556
   Accrued Salaries and Payroll Taxes Withheld       45,153,356
   Estimated Retroactive Payables to
      Third Parties, net                             95,364,865
   Other Non-current Liabilities                     47,419,640
   Liabilities Held for Sale                         38,978,796
                                                 --------------
   Total Liabilities Not Subject to Compromise      603,466,892

Liabilities Subject to Compromise:
   Liabilities Subject to Compromise                481,131,676
                                                 --------------
   Total Liabilities Subject to Compromise          481,131,676
                                                 --------------
   Total Liabilities                              1,084,598,568

Net Assets:
   Unrestricted                                    (564,933,304)
   Temporarily Restricted                            39,773,537
   Permanently Restricted                            25,314,985
                                                 --------------
   Total Net Assets                                (499,844,782)
                                                 --------------
   Total Liabilities & Net Assets                  $584,753,786
                                                 ==============

                         SVCMC Debtors
            Unaudited Consolidated Income Statement
             From December 1 to December 31, 2006

Operating Revenue
   Inpatient                                        $60,469,075
   Outpatient                                        30,341,895
                                                 --------------
      Patient Service Revenue                        90,810,970
                                                 --------------
   Less Provision for Bad Debt                        5,971,434
                                                 --------------
      Net Patient Service Revenue                    84,839,536
                                                 --------------
   Pool Revenue                                       3,863,261
   Capitation                                         7,678,018
   Other                                             13,125,642
                                                 --------------
   Total Operating Revenue                          109,506,457

Operating Expenses:
   Salaries and Wages                                49,707,604
   Fringe Benefits                                   13,991,304
   Supplies and Other                                42,350,086
   Insurance                                          4,024,317
                                                 --------------
   Total Direct Operating Costs                     110,073,311

   Salaries and Wages                                 1,965,166
   Fringe Benefits                                      545,360
   Supplies and Other                                 6,868,853
                                                 --------------
   Total Corporate Allocated                          9,379,379
                                                 --------------
   Total Operating Expense                          119,452,690
                                                 --------------
Interest                                              2,263,005
Depreciation                                          1,567,400
                                                 --------------
   Operating Gain (Loss) Before
      Non-Recurring and/or Unusual Items            (13,776,638)

Non-Recurring and/or Unusual Items:
   Discontinued Operations (St. Mary's)                       -
   St. Mary's Op Pac Rate Adjustment                          -
   ZBEC/HFE Recoveries                                        -
   Restructuring & Bankruptcy Related Costs         (13,998,934)
   Estimated Close-out of St. Mary's                          -
   Hanys Investment Income (SF INS)                           -
   Prior Period Ambulance Revenue                             -
   Transfer of Equity Foundation                              -
                                                 --------------
   Total Non-Recurring and/or Unusual Items         (13,998,934)
                                                 --------------
   Operating Gain (Loss) After
      Non-Recurring and/or Unusual Items            (27,775,572)
                                                 --------------
Non-Operating Revenue                                 8,353,553
Change in Temporary Restricted Net Assets             1,088,281
                                                 --------------
   Change in Net Assets                            ($18,333,738)
                                                 --------------
   EBITDA                                            $9,946,233
                                                 ==============

                         SVCMC Debtors
               Unaudited Statement of Cash Flows
             From December 1 to December 31, 2006

Cash Flows from Operation Activities:
   Changes in Net Assets                           ($18,333,738)

Adjustments to Reconcile Changes in Net Assets
   to Net Cash Provided by Operating Activities:
   Depreciation & Amortization                        1,567,400
   Change in Unrealized Gains & Losses                  (53,998)
   Change in Patient's Accounts Receivable           (3,958,620)
   Change in Accounts Receivables, Other             (6,339,274)
   Change in Prepaid Expenses & Other                14,028,988
   Change in Other Non-Current Assets                 3,124,859
   Change in Accounts Payable &
      Accrued Exp-Postpetition                       12,214,437
   Change in Accrued Salaries & P/R Taxes               270,082
   Change in Est. Retro rec/pay
      from/to third parties                          (3,186,666)
   Change in Other Non-Current Liabilities            2,736,576
                                                 --------------
   Net Cash Provided by Operating Activities          2,070,046

Cash flows From Investment Activities:
   Sale of Investments, Net                              10,696
   Purchase of Assets Whose Use is Limited           (1,072,647)
   Acquisition/Sale of Land, Building,
      & Equipment                                    11,689,860
                                                 --------------
   Net Cash Provided by Investing Activities         10,627,909

Cash flows From Financing Activities:
   Proceeds/Repayment From/of Working Capital Lo              -
   Repayment of Long-term debt                      (25,759,066)
                                                 --------------
   Net Cash (Used) in Financing Activities          (25,759,066)

   Net Increase (Decrease)
      in Cash & Cash Equivalents                    (13,061,111)

   Cash & Cash Equivalents at Beginning of Month     42,296,360
                                                 --------------
   Cash & Cash Equivalents at End of the Month      $29,235,249
                                                 ==============

Headquartered in New York, New York, Saint Vincents Catholic
Medical Centers of New York -- http://www.svcmc.org/-- the
largest Catholic healthcare providers in New York State, operate
hospitals, health centers, nursing homes and a home health agency.
The hospital group consists of seven hospitals located throughout
Brooklyn, Queens, Manhattan, and Staten Island, along with four
nursing homes and a home health care agency.  The Company and six
of its affiliates filed for chapter 11 protection on July 5, 2005
(Bankr. S.D.N.Y. Case No. 05-14945 through 05-14951).  Gary
Ravert, Esq., and Stephen B. Selbst, Esq., at McDermott Will &
Emery, LLP, filed the Debtors' chapter 11 cases.  On Sept. 12,
2005, John J. Rapisardi, Esq., at Weil, Gotshal & Manges LLP took
over representing the Debtors in their restructuring efforts.
Martin G. Bunin, Esq., at Thelen Reid & Priest LLP, represents the
Official Committee of Unsecured Creditors.

As of Apr. 30, 2005, the Debtors listed $972 million in total
assets and $1 billion in total debts.  (Saint Vincent Bankruptcy
News, Issue No. 48 Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


SEA CONTAINERS: Posts $7.3 Million Net Loss in December 2006
------------------------------------------------------------

                     Sea Containers, Ltd.
                    Unaudited Balance Sheet
                    As of December 31, 2006

                            Assets

Current Assets
   Cash and cash equivalents                        $54,196,789
   Trade receivables, less allowances
     for doubtful accounts                              508,115
   Due from related parties                             385,028
   Prepaid expenses and other current assets          4,465,332
                                                   ------------
      Total current assets                           59,555,264

Fixed assets, net                                             -

Long-term equipment sales receivable, net                     -
Investment in group companies                                 -
Intercompany receivables                                      -
Investment in equity ownership interests            204,331,424
Other assets                                          3,302,285
                                                   ------------
Total assets                                        267,188,973
                                                   ============

             Liabilities and Shareholders' Equity

Current Liabilities
   Accounts payable                                   2,123,898
   Accrued expenses                                  30,796,263
   Current portion of long-term debt                 26,946,083
   Current portion of senior notes                  385,097,380
                                                   ------------
      Total current liabilities                     444,963,624

Total shareholders' equity                         (177,774,651)
                                                   ------------
Total liabilities and shareholders' equity         $267,188,973
                                                   ============

                     Sea Containers, Ltd.
               Unaudited Statement of Operations
             For the Month Ended December 31, 2006

Revenue
                                                       $499,123
Costs and expenses:
   Operating costs                                      351,937
   Selling, general and
     administrative expenses                         (4,449,737)
   Reorganization Costs                                  (7,480)
   Charges to provide against
     intercompany accounts                            8,583,920
   Depreciation and amortization                        (58,677)
                                                   ------------
      Total costs and expenses                        4,419,963
                                                   ------------
Loss on sale of assets                                  (29,747)
                                                   ------------
Operating income (loss)                             [(3,950,587)]

Other income (expense)
   Interest income                                      248,766
   Foreign exchange gains (losses)                      (92,909)
   Interest expense, net                             (3,408,685)
                                                   ------------
Income (Loss) before taxes                          [(7,203,415)]
Income tax expense                                     (100,000)
                                                   ------------
Net Income (Loss)                                  [($7,303,415)]
                                                   ============

The Debtors disclose that their financial statements represent
the internal accounting of Sea Containers, Ltd., and its
affiliates and subsidiaries, on an unaudited and uncertified
basis.  The certification and audit process may result in
adjustments to the stated entries.

As of Dec. 31, 2006, SCL has not filed its form 10-K report
for fiscal year ended Dec. 31, 2005, nor has it filed form
10-Q reports for the quarters ended March 31, 2006, June 30, 2006,
and Sept. 30, 2006.

After discussions with the Office of the United States Trustee,
the Debtors are undergoing a reconciliation process of, among
other things, their inter-company claims, to ensure that their
financial reporting is as of their bankruptcy filing rather than
as of Sept. 30, 2006.  

The reconciliation process will require extensive efforts from the
Debtors and will take time to complete.  However, in the interest
of maximum disclosure to all parties in their Chapter 11 cases,
the Debtors have decided to file their December Monthly Operating
Report using information as of Sept. 30, 2006.  The Debtors will
amend their monthly operating reports upon completion of the
reconciliation.

A full-text copy of the Debtors' schedules of cash receipts and
disbursements is available for free at:

                http://researcharchives.com/t/s?1a37

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 US$1.6 billion in total
debts.  

The Debtors' exclusive period to file a plan expires on June 12,
2007.  Their exclusive period to solicit acceptances expires on
Aug. 11, 2007.  (Sea Containers Bankruptcy News, Issue No. 11;
Bankruptcy Creditors' Service, Inc. http://bankrupt.com/newsstand/
or 215/945-7000)

                             *********

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
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Nothing in the TCR constitutes an offer or solicitation to buy or
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public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
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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
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Monthly Operating Reports are summarized in every Saturday edition
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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, Cherry A.
Soriano-Baaclo, Jason A. Nieva, 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
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