TCR_Public/070227.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

            Tuesday, February 27, 2007, Vol. 11, No. 49

                             Headlines

AARON CARVAJAL: Case Summary & Nine Largest Unsecured Creditors
ACTUANT CORP: Inks Third Amendment to JP Morgan Credit Agreement
ADVANCED MARKETING: Baker & Taylor Signs Asset Purchase Agreement
ADVANCED MARKETING: Gets Final Nod to Access Wells Fargo DIP Loan
AGCO CORP: Posts $128.1 Million Net Loss in Quarter Ended Dec. 31

AMERICAN REPROGRAPHICS: Earns $12.8 Mil. in Quarter Ended Dec. 31
AMERIGAS PARTNERS: Propane to Sell Bumstead Facility for $52 Mil.
ANTHONY LINSEY: Case Summary & Eight Largest Unsecured Creditors
ARMSTRONG WORLD: Inks $20 Mil. Settlement with Armstrong Holdings
ASARCO LLC: AMC Wants Tax Agreement Response Deadline Stretched

ASHMORE ENERGY: Fitch Rates $500 Million Senior Facility at BB
ASSET BACKED: DBRS Puts Ratings on Review with Neg. Implications
BEAR STEARNS: DBRS Rates $9 Million Class XI-A-4 Certs. at B
BIO-RAD LABORATORIES: Earns $16.6 Million in 2006 Fourth Quarter
CASINO DRYWALL: Voluntary Chapter 11 Case Summary

CEDAR FAIR: Inks $2 Billion Credit Agreement
CELESTICA INC: Incurs $60.8 Mil. Net Loss in 2006 Fourth Quarter
CHARTER COMM: Expects $1.413 Billion Profit in Fourth Quarter 2006
CLEAR CHANNEL: Fourth Quarter 2006 Revenues Ups to $1.94 Billion
CNH GLOBAL: Earns $35 Million in Fourth Quarter 2006

DAIMLERCHRYSLER: Chrysler's Bidding Process May Start This Week
DAIMLERCHRYSLER: Magna Makes Chrysler's New Seating Features
DRS TECHNOLOGIES: Earns $35.1 Million in 2007 Third Fiscal Quarter
FAIRFAX FINANCIAL: Earns $159.1 Million in 2006 Fourth Quarter
FRASER PAPERS: Posts $114 Million Net Loss in Year Ended Dec. 31

FREMONT HOME: DBRS Puts Class B4 Certificates' Rating Under Review
FURNITURE BRANDS: Earns $55.1 Million in Year Ended December 31
HAWAII MEDICAL: Case Summary & 20 Largest Unsecured Creditors
HOLLINGER INC: Considers Adding More Members to Sun-Times Board
HUSKY ENERGY: Earns $2.7 Billion in Year Ended December 31

JACK SALTS: Case Summary & Seven Largest Unsecured Creditors
KAHUKU HOSPITAL: Case Summary & 20 Largest Unsecured Creditors
LAND O'LAKES: Appoints Myron Voth & James Netto as Directors
MARK FORE: Voluntary Chapter 11 Case Summary
MASTR ASSET: DBRS Puts Class Certificates' Rating Under Review

METHANEX CORP: Earns $482.9 Million in Year Ended December 31
METTLER TOLEDO: Earns $52.02 Million in Fourth Quarter 2006
MIRANT CORP: NY Units Want Confirmation Hearing Moved to March 21
MORGAN STANLEY: Fitch Holds Junk Rating on $8.6MM Class N Certs.
MORTGAGE CAPITAL: Fitch Holds Junk Rating on $7.6MM Class K Certs.

MORTGAGE LENDERS: Wants to Reject 17 Real Property Leases
MORTGAGE LENDERS: Three Parties Respond to Lease Rejection Plea
MOTHERS WORK: Earns $1.4 Million in 2007 First Fiscal Quarter
MUSICLAND HOLDING: Confirmation Hearing Adjourned to March 29
NEW JERUSALEM: Case Summary & 13 Largest Unsecured Creditors

NORD RESOURCES: Plantinum Fails to Pay $2 Million Termination Fee
NORTHGATE CONDOMINIUMS: Voluntary Chapter 11 Case Summary
NORTHWEST AIRLINES: Committee Objects to Equity Panel Appointment
NORTHWEST AIRLINES: Wants Court Approval on JP Morgan Equity Pact
OPTIME THERAPEUTICS: Case Summary & 20 Largest Unsecured Creditors

OVERTURF & ASSOCIATES: Case Summary & 14 Largest Unsec. Creditors
PCS EDVENTURES: Posts $1 Million Net Loss in Quarter Ended Dec. 31
PREMIER ENTERTAINMENT: Court OKs 2nd Amended Disclosure Statement
QUEST TRUST: S&P Lowers Rating on Class M-2 Certificates to BB+
RENNIE PETROLEUM: Case Summary & 20 Largest Unsecured Creditors

RONCO CORP: Posts $6.5 Million Net Loss in Quarter Ended Dec. 31
SECURE SYSTEMS: Case Summary & 20 Largest Unsecured Creditors
SEMCO ENERGY: Cap Rock Deal Cues S&P to Put on Developing Watch
SHREVEPORT DOCTORS: Section 341(a) Meeting Set for April 20
SHREVEPORT DOCTORS: General Claims Bar Date Set for July 19

STARTECH ENVIRONMENTAL: Marcum Kliegman Raises Going Concern Doubt
STATION CASINOS: Subsidiary Inks New $830 Million Credit Facility
SUMMIT CBO: S&P Assigns Default Rating on Class B Notes
SUNNY'S GREAT: Taps Keen Realty to Sell 13 Retail Leaseholds
SUTTER CBO: S&P Puts Junk Rated Class B-2 Notes on Positive Watch

TERRACES SUBDIVISION: Case Summary & 20 Largest Unsec. Creditors
TRI-SOURCE TITLE: Case Summary & 20 Largest Unsecured Creditors
TRIPLE J&L: Voluntary Chapter 11 Case Summary
TXU CORP: Board of Directors Declares Dividend
US AIRWAYS: IAM Says Carrier is Using Bankruptcy as Shield

VILLAGE MANOR: Case Summary & 20 Largest Unsecured Creditors
WILBRAHAM CBO: S&P Puts B Rated Class A-2 Notes on Positive Watch

* Large Companies with Insolvent Balance Sheets

                             *********

AARON CARVAJAL: Case Summary & Nine Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Aaron R. Carvajal
        435 Hubbard Gulch Road
        Ben Lomond, CA 95005

Bankruptcy Case No.: 07-50294

Chapter 11 Petition Date: February 2, 2007

Court: Northern District of California (San Jose)

Judge: Marilyn Morgan

Debtor's Counsel: Judson T. Farley, Esq.
                  830 Bay Avenue, Suite B
                  Capitola, CA 95010-2173
                  Tel: (831) 476-1766
                  Fax: (831) 476-7296

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
   ------                        ---------------   ------------
Jack Keefe                       Real Estate            $61,900
560 30th Avenue, Space 14                              Secured:
Santa Cruz, CA 95062                                   $675,000
                                                   Senior Lien:
                                                       $628,561

Target National Bank             Credit Card             $9,789
P.O. Box 59317
Minneapolis, MN 55459-0317

NCO Financial System             Citibank Collection     $8,519
P.O. Box 15899
Wilmington, DE 19850-5889

Home Depot Credit Services       Credit Card             $8,343



Bank of America                  Credit Card             $4,395

Capital One Bank                 Credit Card             $2,299

Sears                            Credit Card               $906

City of San Jose                                           $229

Liberty Mutual                   Homeowner's               $145
                                 Insurance Premium


ACTUANT CORP: Inks Third Amendment to JP Morgan Credit Agreement
----------------------------------------------------------------
Actuant Corporation entered into a Third Amendment to the Amended
and Restated Credit Agreement, dated as of Feb. 16, 2007, with JP
Morgan Chase Bank National Association as the administrative
agent.

The agreement amends and modifies the company's amended and
restated credit agreement, dated as of December 27, 2004.

The company said that the third amendment increased the existing
term loan facility from $250 million to $400 million, which is in
addition to the existing $250 million revolving credit facility,
eliminates amortization of the term loan such that the entire
amount of the term loan matures on Dec. 22, 2009.

Additionally, the third amendment permits the company future
incremental term loans and increases in aggregate revolving loan
commitments of up to an additional aggregate principal amount of
$200 million.  It also increases certain limits concerning the
incurrence of other indebtedness.

The company used the proceeds from the $150 million increase in
the term loans to pay down amounts outstanding under the revolving
credit facility and reduce commercial paper borrowings.

                     About Actuant Corporation

Actuant Corp. (NYSE:ATU) -- http://www.actuant.com/--  
manufactures and markets a broad range of industrial products and
systems, organized into two business segments, Tools & Supplies
and Engineered Solutions.

                           *     *     *

As reported in the Troubled Company Reporter on Oct. 23, 2006,
Moody's Investors Service affirmed its Ba2 corporate family rating
for Actuant Corp.


ADVANCED MARKETING: Baker & Taylor Signs Asset Purchase Agreement
-----------------------------------------------------------------
Advanced Marketing Services Inc. and Baker & Taylor Inc. signed,
on Feb. 16, 2007, an Asset Purchase Agreement for the sale of
majority of Debtor's assets, Mark D. Collins, Esq., at Richards,
Layton & Finger, P.A., in Wilmington, Delaware, tells the United
States Bankruptcy Court for the District of Delaware.

As reported in the Troubled Company Reporter on Feb. 14, 2007, the
Debtors entered into a letter of intent with Baker & Taylor to
sell the majority of its assets, excluding Publishers Group West
Inc.

Following the completion of the bidding process and an auction, if
necessary, the company anticipates a closing by March 15, 2007, as
per the requirements of the letter of intent.

Under the Asset Purchase Agreement, Baker & Taylor will acquire
all of AMS' right, title and interest in certain of its assets
including:

   a) certain assigned contracts;

   b) certain tangible property owned or used by AMS in connection
      with the conduct of its business;

   c) all trade accounts receivable of AMS' business, including
      unbilled accounts receivable;

   d) an inventory of Advantage Publishers Group (APG) selected by
      Baker & Taylor;

   e) the capital stock of Advanced Marketing Services
      Investments Inc., Advanced Marketing S. de R.L. de C.V., and
      Advanced Marketing (Europe) Limited; and

   f) product prepayments with respect to APG.

Baker & Taylor will pay:

   a) $20,000,000;

   b) the Selected APG Inventory Price;

   c) the APG Product Prepayment Price; and

   d) the Accounts Receivable Price; plus or minus

   e) the net proration of the Apportioned Obligations determined
      in accordance with the Asset Purchase Agreement.

Baker & Taylor will pay to AMS 50% of the Purchase Price on the
Closing Date; 25% no later than 60 days after the Closing Date;
and the remaining 25% no later than 90 days after the Closing
Date.

The Closing Date will occur on March 13, 2007.

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

                http://researcharchives.com/t/s?1a28

                        About Baker & Taylor

Baker & Taylor, founded in 1828, is the world's leading
distributor of books, video, and music products to public and
academic libraries.  It is also a global leader in the
distribution of books and entertainment products to many of the
country's leading brick and mortar retailers, Internet retailers,
as well as thousands of independent book, music and video stores.
Baker & Taylor is based in Charlotte, North Carolina and is
ranked in the top 250 US private companies by Forbes magazine.
It serves customers in 125 countries around the world and has six
distribution facilities strategically located throughout the
country.  Baker & Taylor is a portfolio company of Castle Harlan
Partners IV, L.P.

                        About Castle Harlan

Castle Harlan, founded in 1987, invests in controlling interests
in the buyout and development of middle-market companies in North
America and Europe.  Its team of 20 investment professionals has
completed 48 acquisitions since its inception with a total value
in excess of $9 billion.  The firm traces its roots to the start
of the institutionalized private-equity business in the late
1960's.

Castle Harlan's current portfolio companies, which employ more
than 42,000 people, include Ames True Temper, a leading
manufacturer of lawn and garden tools and accessories; RathGibson,
a leader in the manufacture of stainless steel and high alloy
precision-welded tubing; and Perkins & Marie Callender's Inc.
which operates and franchises 618 family restaurants in the United
States and Canada.

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.  The
Debtors' exclusive period to file a chapter 11 plan expires on
Apr. 28, 2007. (Advanced Marketing Bankruptcy News, Issue No. 7;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


ADVANCED MARKETING: Gets Final Nod to Access Wells Fargo DIP Loan
-----------------------------------------------------------------
Judge Christopher S. Sontchi of the United States Bankruptcy Court
for the District of Delaware has granted authority to Advanced
Marketing Services Inc. and its debtor-affiliates, on a final
basis, to dip their hands into the DIP financing facility arranged
by Wells Fargo Foothill Inc.

The Court also authorized and empowered Debtors to immediately
obtain the Postpetition Financing and incur the Obligations
pursuant to the terms and conditions of the final DIP ruling and
the Loan Documents.

The Debtors are also authorized to enter into, execute, deliver,
perform, and comply with all of the terms and covenants of the
Loan Agreement and other Loan Documents, Judge Sontchi notes.

As reported in the Troubled Company Reporter on Jan. 10, 2007,
The Hon. Christopher S. Sontchi of the U.S. Bankruptcy Court for
the District of Delaware, at a hearing on Jan. 3, 2007, authorized
Advanced Marketing Services Inc., and its debtor-affiliates, on
an interim basis, to dip their hands into the DIP financing
facility arranged by Wells Fargo Foothill.

The Debtors sought the Court's authority to obtain from Foothill
and the Senior Lenders, though the DIP Loan Facility, cash
advances and other extensions of credit in an aggregate principal
amount of up to $75,000,000.

The DIP Facility provides, among other things, that each Lender
with a Revolver Commitment agrees to make Advances to the Debtors
at any one time in amounts not exceeding the Lender's Pro Rata
Share of an amount equal to the lesser of (i) the Maximum
Revolver Amount -- presently set at $75,000,000 -- less the
Letter of Credit Usage, or (ii) the Borrowing Base less the
Letter of Credit Usage.

     Lender                                 Revolver Commitment
     ------                                 -------------------
     Wells Fargo Foothill, Inc.                  $37,500,000
     LaSalle Business Credit, LLC                 16,500,000
     Marathon Structured Finance Fund, L.P.        8,250,000
     Capitalsource Finance LLC                    12,750,000

A full-text copy of the Final DIP Ruling is available for free
at http://researcharchives.com/t/s?1a2e

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.  The
Debtors' exclusive period to file a chapter 11 plan expires on
Apr. 28, 2007. (Advanced Marketing Bankruptcy News, Issue No. 7;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


AGCO CORP: Posts $128.1 Million Net Loss in Quarter Ended Dec. 31
-----------------------------------------------------------------
Agco Corp. reported results for its fourth quarter and year ended
Dec. 31, 2006.

The company reported a net loss of $128.1 million for the fourth
quarter of 2006.  The fourth quarter 2006 results reflected a
non-cash goodwill impairment charge of $171.4 million associated
with the company's Sprayer business.  Adjusted net income, which
excluded restructuring and other infrequent expenses and the non-
cash goodwill impairment charge, was $38.8 million for the fourth
quarter of 2006.  AGCO reported a net loss of $63.8 million and
adjusted net income of $26.9 million for the fourth quarter of
2005.  Net sales for the fourth quarter of 2006 were $1.6 billion,
an increase of 18% compared to $1,384.9 million of the same period
in 2005.

The company reported a net loss of $64.9 million for the full
year.  Adjusted net income, which excludes restructuring and other
infrequent expenses and the non-cash goodwill impairment charge,
was $102.7 million for the full year of 2006.  Net income for the
full year of 2005 was $31.6 million.  Adjusted net income, which
excludes restructuring and other infrequent income, costs
associated with a June 2005 bond redemption, and a non-cash
deferred income tax adjustment, was $31.6 million for the full
year of 2005.  Net sales for the full year of 2006 were
$5.4 billion, which were slightly below the prior year.

Excluding the impact of currency translation, AGCO's net sales
increased 11.1% during the fourth quarter and decreased 2.4% for
the full year of 2006 compared to the same periods in 2005.

In the fourth quarter of 2006, net sales increased in the South
America and Europe/Africa/Middle East regions, partially offset by
sales declines in the North America and Asia/Pacific regions.  For
the full year of 2006, net sales declined in the North America,
South America and Asia/Pacific regions, partially offset by sales
increases in the Europe/Africa/Middle East region.  The European
sales growth was led by strong results in Germany and Eastern
Europe where market conditions improved in 2006.  Net sales in
North America in 2006 were significantly lower compared to 2005
primarily due to weaker market conditions and lower deliveries to
dealers, resulting in a reduction in dealer inventory levels.  In
the South America and Asia/Pacific regions, weaker market
conditions contributed to the sales decline.

Adjusted income from operations increased $28.1 million for the
fourth quarter of 2006 compared to the same period in 2005
primarily due to increased sales achieved in the quarter.  For the
full year of 2006, adjusted income from operations decreased
$33.4 million compared to 2005 resulting from sales declines and
lower production levels.  Unit production of tractors and combines
for the full year of 2006 was 9% below 2005.

"AGCO delivered record free cash flow in 2006," Martin
Richenhagen, Chairman, President and Chief Executive Officer,
stated.  "The company's working capital focus throughout the year
resulted in free cash flow of over $300 million and enabled it to
further strengthen its balance sheet.  During 2006, AGCO reduced
its net debt to capital ratio from 30% to 20% and lowered its net
debt by $244 million.  Working capital management will continue to
be a major focus in 2007."

As disclosed in AGCO's third quarter 2006 Form 10-Q, the company
performed its annual impairment testing of goodwill and other
intangible assets in accordance with SFAS No. 142 during the
fourth quarter.  As a result of this analysis, the company
determined that the total carrying amount of goodwill associated
with its Sprayer business should be written off, and, therefore,
the company recorded a non-cash goodwill impairment charge of
$171.4 million during the fourth quarter.  The company remained
committed to its Sprayer business and has strategies in place to
strengthen the Sprayer distribution network, enhance the product
line and improve future operating results.

At Dec. 31, 2006, AGCO Corp.'s balance sheet showed $4.114 billion
in total assets and $2.620 billion in total liabilities with
$1.5 billion in total stockholders' equity.

                        About Agco Corp.

Headquartered in Duluth, Georgia and founded in 1990,
Agco Corp. (NYSE:AG)-- http://www.agcocorp.com/-- is a global
manufacturer of agricultural equipment and related replacement
parts.  Agco offers a full product line including tractors,
combines, hay tools, sprayers, forage, tillage equipment and
implements, which are distributed through more than 3,600
independent dealers and distributors in more than 140 countries
worldwide, including Brazil.  AGCO products include the following
brands: AGCO(R), Challenger(R), Fendt(R), Gleaner(R), Hesston(R),
Massey Ferguson(R), New Idea(R), RoGator(R), Spra-Coupe(R),
Sunflower(R), Terra-Gator(R), Valtra(R), and White(TM) Planters.
AGCO provides retail financing through AGCO Finance.

                           *     *     *

AGCO Corp.'s 1-1/4% Convertible Senior Subordinated Notes due 2036
carry Standard & Poor's BB- rating.


AMERICAN REPROGRAPHICS: Earns $12.8 Mil. in Quarter Ended Dec. 31
-----------------------------------------------------------------
American Reprographics Co. reported its financial results for the
fourth quarter, and year ended Dec. 31, 2006.

Net revenue for the fourth quarter of 2006 was $147 million
compared to $124.7 million in the fourth quarter of 2005, an
increase of 17.9%.  The company's gross margin in the fourth
quarter of 2006 was 41.6%, compared to 40.2% for the same period
in 2005.  Net income for the fourth quarter of 2006 was
$12.8 million compared to net income for the fourth quarter of
2005 of $8.6 million adjusted for a pre-tax charge incurred from
the early extinguishment of debt of $9.3 million.

Revenue for the full year ended Dec. 31, 2006, was $591.8 million,
compared to $494.2 million for 2005, a 19.8% increase year-over-
year.  The company's gross margin for the full year ended
Dec. 31, 2006, was 43.0%, compared to 41.4% for the 12 months
ended Dec. 31, 2005.  Net income for 2006 was $51.4 million per
diluted share, including a one-time $14 million litigation charge
related to the Louis Frey litigation.  Adjusted to exclude the
effect of the litigation charge net of tax, the company's net
income for 2006 was $59.8 million.

Net income for 2005 was $60.5 million including a one-time
$27.7 million income tax benefit due to the company's
reorganization from a limited liability company to a Delaware
corporation in conjunction with its IPO in February 2005.
Excluding the one-time income tax benefit due to reorganization,
debt write-off net of tax benefit, but including proforma
incremental tax provision, the company earned $38 million in 2005.
Accounting for the aforementioned adjustments, earnings per share
increased 48.9% in 2006.  Net cash provided by operating
activities in 2006 was $98.4 million, compared to $56.6 million in
2005.

"The focus the company applied to Premier Accounts this year has
begun to bear fruit," K. "Suri" Suriyakumar, President and COO,
said.  "The company recently signed an exclusive contract with
Boeing for the bulk of in-house printing, and the company gained a
number of other key customer wins throughout the year including
Burns & McDonald, Stantech, Gilbane Construction, and most
recently, Whiting- Turner."

"Separately, the refinement of the company's technology continues
to produce efficiencies across all of our business segments.
This, combined with the ongoing expansion of our global footprint,
has resulted in consistent improvement in ARC's operating margins.
The company's performance in 2006 will provide an excellent base
upon which to build in 2007."

                              Outlook

Based on current trends, American Reprographics Company expects
that full year 2007 revenue will be in the range of
$690-710 million.

                   About American Reprographics

Headquartered in Glendale, California, American Reprographics Co.
(NYSE: ARP) provides business-to-business document management
services to the architectural, engineering and construction, or
AEC industries.  The company provides these services to companies
in non-AEC industries, such as technology, financial services,
retail, entertainment, and food and hospitality, which also
require sophisticated document management services.  American
Reprographics provides its core services through its suite of
reprographics technology products, a network of more than 200
locally branded reprographics service centers across the U.S., and
on-site at their customers' locations.  The company's service
centers are arranged in a hub and satellite structure and are
digitally connected as a cohesive network, allowing the provision
of services both locally and nationally to more than 73,000 active
customers.

                           *     *     *

Moody's Investors Service has assigned a 'Baa3' to American
Reprographics's LT Corporate Family Rating.  The outlook is
positive.

Standard & Poor's has assigned a 'BB' rating on LT Foreign and
Local Issuer Credit.  The outlook is stable.


AMERIGAS PARTNERS: Propane to Sell Bumstead Facility for $52 Mil.
-----------------------------------------------------------------
AmeriGas Partners L.P. reported that Amerigas Propane, its general
partner, signed a definitive agreement to sell its Bumstead
liquefied petroleum gas storage terminal in Phoenix, Arizona, to
Plains LPG Services L.P. for approximately $52 million.

"We are extremely pleased with the agreement reached with Plains
to sell the Bumstead terminal" chief executive officer of
AmeriGas, Eugene V. N. Bissell, said.  "The proceeds of the sale
of the terminal will be used for general partnership purposes."

The partnership expects to realize a gain on the sale of
approximately $48 million.  The 3.5 million barrel underground
storage facility provides LPG storage for the western U.S.  As
part of the transaction, AmeriGas Propane will retain the right to
store propane for its retail operations under a long-term storage
agreement.

"While Bumstead will remain an important storage location for
AmeriGas retail operations in the western U. S., divestiture of
the facility will enable us to focus our resources on our core
businesses" Vice President of supply and logistics for AmeriGas,
David L. Lugar, said.

The transaction is expected to close within 90 days, subject to
satisfaction of certain closing conditions.

                       About AmeriGas Partners

AmeriGas Partners L.P. (NYSE: APU) -- http://www.amerigas.com/--  
is a retail propane marketer, serving nearly 1.3 million customers
from over 600 locations in 46 states.  UGI Corporation (NYSE: UGI)
through its subsidiaries owns 44% of the Partnership and
individual unitholders own the remaining 56%.

                          *     *     *

As reported in the Troubled Company Reporter on Feb. 14, 2007,
Fitch Ratings affirmed AmeriGas Partners L.P.'s 'BB+' senior
unsecured notes and issuer default rating.  The Rating Outlook
is Stable.


ANTHONY LINSEY: Case Summary & Eight Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Anthony J. Linsey, Sr.
        909 Wilshire Court
        Grayson, GA 30017

Bankruptcy Case No.: 07-61660

Chapter 11 Petition Date: February 2, 2007

Court: Northern District of Georgia (Atlanta)

Judge: Joyce Bihary

Debtor's Counsel: Evan M. Altman, Esq.
                  Building 2 - Northridge 400
                  8325 Dunwoody Place
                  Atlanta, GA 30350
                  Tel: (770) 394-6466

Estimated Assets: $1 Million to $100 Million

Estimated Debts:  $1 Million to $100 Million

Debtor's Eight Largest Unsecured Creditors:

   Entity                        Nature of Claim   Claim Amount
   ------                        ---------------   ------------
Chase Home Finance               Bank Loan             $880,000
P.O. Box 9001871                                       Secured:
Louisville, KY 40290                                 $1,500,000

M&T Mortgage Corp.               Bank Loan              $80,000
P.O. Box 1288                                          Secured:
Buffalo, NY 14240                                    $1,500,000

HSBC                                                    $35,000
P.O. Box 5218                                          Secured:
Carol Stream, IL 60197                                  $38,000
                                                     Unsecured:
                                                         $3,000

Ford Credit                      Bank Loan              $22,463
                                                       Secured:
                                                        $28,000

Beneficial                                              $10,076

Long Beach Acceptance Corp.      Bank Loan              $12,252
                                                       Secured:
                                                        $14,000

Internal Revenue Service                                     $0

Georgia Department of Revenue                                $0


ARMSTRONG WORLD: Inks $20 Mil. Settlement with Armstrong Holdings
-----------------------------------------------------------------
Armstrong Holdings, Inc. and its former subsidiary, Armstrong
World Industries, Inc., have reached a settlement on all inter-
company claim and tax issues.

The settlement, if approved by the U.S. Bankruptcy Court for the
District of Delaware, calls for AWI to pay AHI $20 million in
cash, and gives AHI an allowed claim under AWI's confirmed Plan of
Reorganization of $8.5 million.

The settlement gives AWI the right to make all relevant tax
elections and file all required tax returns on behalf of the
Armstrong group of companies for all relevant tax periods during
which the two companies were affiliated, and to receive and retain
all related tax refunds.  AHI would recover on the AHI Claim on
the same basis as other unsecured creditors of AWI under the AWI
Plan of Reorganization.  The initial distribution in satisfaction
of the $8.5 million AHI Claim would consist of approximately $2
million in cash plus approximately 98,690 shares of reorganized
AWI.

Shareholders of AHI will be mailed a notice of the hearing, which
is scheduled for April 2, 2007.

                         About Armstrong

Based in Lancaster, Pennsylvania, Armstrong World Industries, Inc.
(NYSE: AWI) -- 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.

ASARCO LLC: AMC Wants Tax Agreement Response Deadline Stretched
---------------------------------------------------------------
Americas Mining Corporation and Asarco Inc. ask the Honorable
Richard S. Schmidt of the U.S. Bankruptcy Court for the Southern
District of Texas to extend the deadline to allow them to file
responses to ASARCO LLC's Tax Sharing Agreement Rejection Motion,
Tax Protocol Agreement Motion and Tax Refund Adversary Proceeding,
until March 8, 2007.

As reported Troubled Company Reporter on Feb. 12, 2007, ASARCO LLC
asked the Court to approve the proposed Tax Agreement Protocol,
which provides for Asarco Inc., AMC and its responsibilities
related to the tax issues.  At a hearing conducted on
Sept. 27, 2006, the Court instructed ASARCO LLC and Asarco
Incorporated to develop a protocol for dealing with tax issues and
exchanging tax information.  The Court also stated that if any
party does not obtain requested information, then that party can
file a motion seeking an order to provide that information.

In furtherance of the Court's order regarding a tax protocol,
ASARCO LLC's counsel drafted a proposed tax protocol agreement
and sent the proposal to Asarco Inc. and AMC for consideration and
comment.  Asarco Inc. and AMC have been wholly unresponsive to
ASARCO LLC's attempts to work out tax protocols and have been only
marginally responsive to its requests to exchange certain tax-
related information, James R. Prince, Esq., at Baker Botts L.L.P.,
in Dallas, Texas, told the Court.

          AMC, et al., Seek to Extend Response Deadline

AMC and Asarco Inc. point out that ASARCO LLC's Tax Sharing
Agreement Rejection Motion, Tax Protocol Agreement Motion and Tax
Refund Adversary Proceeding all revolve around the tax treatment
of the Debtors and the historical tax arrangements between the
Debtors, Asarco Inc., and related companies.

Brooks Hamilton, Esq., at Haynes and Boone, LLP, in Houston,
Texas, contends that AMC's and Asarco Inc.'s responses to the
Rejection and Protocol Motions and the Refund Adversary
Proceeding will all require an investigation into the same
factual and historic circumstances.

Given the factual similarities between and common legal issues
involved in the Motions and Adversary Proceeding, AMC and Asarco
Inc. contacted ASARCO LLC and asked for an extension of the
response date for the Protocol and Rejection Motions to
March 8, 2007, the response date for the Refund Adversary
Proceeding.

ASARCO LLC, however, refused to grant an extension.  Given the
overlap among the Protocol and Rejection Motions and the
Refund Adversary Proceeding, AMC and Asarco Inc. maintain that it
is logical and efficient to allow them to respond to all three
pleadings on the same schedule.

Requiring AMC and Asarco Inc. to respond to the Rejection and
Protocol Motions before filing an answer in the Refund Adversary
would result in a duplication of time, effort, and resources, Mr.
Hamilton asserts.

Granting the extension will not harm or prejudice the Debtors,
Mr. Hamilton says, since the delay will only be less than two
weeks.  No hearing date has been set for the Rejection Motion or
the Protocol Motion yet.

                        About ASARCO LLC

Based in Tucson, Arizona, ASARCO LLC -- http://www.asarco.com/--
is an integrated copper mining, smelting and refining company.
Grupo Mexico S.A. de C.V. is ASARCO's ultimate parent.  The
Company filed for chapter 11 protection on Aug. 9, 2005 (Bankr.
S.D. Tex. Case No. 05-21207).  James R. Prince, Esq., Jack L.
Kinzie, Esq., and Eric A. Soderlund, Esq., at Baker Botts L.L.P.,
and Nathaniel Peter Holzer, Esq., Shelby A. Jordan, Esq., and
Harlin C. Womble, Esq., at Jordan, Hyden, Womble & Culbreth, P.C.,
represent the Debtor in its restructuring efforts.  Lehman
Brothers Inc. provides the ASARCO with financial advisory services
And investment banking services.  Paul M. Singer, Esq., James C.
McCarroll, Esq., and Derek J. Baker, Esq., at Reed Smith LLP give
legal advice to the Official Committee of Unsecured Creditors and
David J. Beckman at FTI Consulting, Inc., gives financial advisory
services to the Committee.  When the Debtor filed for protection
from its creditors, it listed $600 million in total assets and
$1 billion in total debts.

The Debtor has five affiliates that filed for chapter 11
protection on April 11, 2005 (Bankr. S.D. Tex. Case Nos. 05-20521
through 05-20525).  They are Lac d'Amiante Du Quebec Ltee, CAPCO
Pipe Company, Inc., Cement Asbestos Products Company, Lake
Asbestos of Quebec, Ltd., and LAQ Canada, Ltd.  Details about
their asbestos-driven chapter 11 filings have appeared in the
Troubled Company Reporter since Apr. 18, 2005.

Encycle/Texas, Inc. (Bankr. S.D. Tex. Case No. 05-21304), Encycle,
Inc., and ASARCO Consulting, Inc. (Bankr. S.D. Tex. Case No.
05-21346) also filed for chapter 11 protection, and ASARCO has
asked that the three subsidiary cases be jointly administered
with its chapter 11 case.  On Oct. 24, 2005, Encycle/Texas' case
was converted to a Chapter 7 liquidation proceeding. The Court
appointed Michael Boudloche as Encycle/Texas, Inc.'s Chapter 7
Trustee.  Michael B. Schmidt, Esq., and John Vardeman, Esq., at
Law Offices of Michael B. Schmidt represent the Chapter 7
Trustee.

ASARCO's affiliates, AR Sacaton LLC, Southern Peru Holdings LLC,
and ASARCO Exploration Company Inc., filed for chapter 11
protection on Dec. 12, 2006 (Bankr. S.D. Tex. Case No. 06-20774 to
06-20776).

(ASARCO Bankruptcy News, Issue No. 39; Bankruptcy Creditors'
Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000)

The Honorable Richard S. Schmidt of the U.S. Bankruptcy Court for
the Southern District of Texas in Corpus Christi had extended the
Debtors' exclusive period to file a plan of reorganization until
April 6, 2007, and their exclusive period to solicit acceptances
of that plan until June 6, 2007.


ASHMORE ENERGY: Fitch Rates $500 Million Senior Facility at BB
--------------------------------------------------------------
Fitch Ratings has assigned these ratings to Ashmore Energy
International, with a Stable Outlook:

-- Issuer Default Rating of 'BB';
-- Proposed $1 billion senior term loan;
-- $500 million senior revolver credit facility 'BB'.

Proceeds will be used to refinance $1 billion of existing senior
bridge loan facilities associated with the acquisition of Prisma
Energy International in a two-stage transaction that was completed
in September 2006.  The $1 billion senior term loan will be
secured by equity shares of AEI's top level holding companies.

A portion of the term loan ($300 million) will amortize on a
straight-line basis over the seven-year term ($42 million
annually) with the remainder ($700 million) due at maturity, as
well as a fully committed, five-year revolver of $500 million to
fund working capital and general corporate needs.

The ratings reflect a solid portfolio of energy companies with
predictable cash flow and moderate leverage.  The assets are
focused in three primary lines of business including: electric
distribution, power generation, and natural gas distribution and
transportation.  AEI's assets consist of 16 energy companies in
which AEI has direct or indirect control of the operation, as well
as three minority stakes.  All of the assets are operating and
generally performing well.  AEI's operating assets have a
relatively stable base of revenues and cash flows as more than 90%
of its revenues are either from contracted Power Purchase
Agreements or from regulated energy businesses.  Contract and
regulated revenues and cash flows tend to be more stable and have
lower business risk. Contracted revenues from long-term PPAs are
primarily with government-owned off-takers.  In addition, AEI has
an experienced operating management team.

Cash flows are geographically concentrated in Brazil and more
generally in Latin America.  From a portfolio standpoint, 87% of
consolidated cash flows can be attributed to companies located in
Latin America and 64% of consolidated cash flows are derived from
Brazilian assets.  Cash flow is concentrated in non-investment-
grade countries and is generally rated in the 'BB/BB-' range.
Additionally, AEI's cash flow is concentrated in five key assets:
Elektro (Brazil), Cuiaba (Brazil), San Felipe (Dominican
Republic), Promigas (Colombia), and Trakya (Turkey).  The largest
cash flow contributor is Brazilian power distribution company,
Elektro, which at the end of fiscal 2006, represented 43% of
consolidated EBITDA and approximately 55.3% of AEI's dividend cash
flow. Elektro is a moderately low risk electric distribution
business serving 1.9 million customers in the State of Sao Paulo.
Elektro operating company leverage is low, with net debt to EBITDA
of 1.1x for fiscal year-end 2006.  Concentrations somewhat limit
the benefits of diversification.

AEI is moderately leveraged with debt and cash flow levels
consistent with the rating category.  Leverage as measured by
consolidated debt to EBITDA is currently around 3.7x.
Consolidated debt approximates $2.5 billion and consolidated
EBITDA is currently estimated to be between $650 million to
$675 million; the company also generates an additional
$100 million to $125 million in interest income from current cash
balances.  Over the next few years, leverage is expected to trend
lower as total consolidated debt to EBITDA should drop below 3x by
2010.

AEI's liquidity is strong as exemplified in both cash flow to debt
service coverage and net debt to EBITDA ratios.  Healthy levels of
consolidated cash at approximately $1 billion, as well as the
$500 million revolver, permit the company to weather any potential
downturns in the business, and will enable the company to continue
to carry out strategic initiatives.

Fitch expects that the company will continue to maintain
sufficient cash on the balance sheet to provide adequate liquidity
in the business for future investment purposes.  AEI anticipates
that parent company balance sheet cash will decrease to
approximate $800 million by fiscal year-end 2007 and then continue
to build absent any additional investment.

Parent-level free cash flow is solid and at levels sufficient to
manageably service debt.  Dividends and other cash flows from the
operating companies to the holding company should exceed
$450 million annually over the next several years.  Parent company
debt currently totals $1.6 billion and consists of $976 million of
senior term loan and approximately $560 million of payment-in-kind
notes.  Parent company debt is expected to gradually increase as
the par value of the subordinated PIK notes increases.  Parent
company debt service is expected to be approximately $125 million.
Over the next several years free cash flow to debt service should
remain stable, ranging between 3.0x-3.5x.

The ratings incorporate the structural subordination of the bank
facility to operating company debt. Parent company debt of
$1.6 billion represents 62% of consolidated debt; Elektro third-
party debt is $417 million or 17% of consolidated debt.  Total
consolidated debt of $2.5 billion is balanced between the
operating and parent company at $929 million and $1.5 billion,
respectively.

Consolidated EBITDA for fiscal 2006 is estimated to be between
$650 million-$675 million; current interest income is running
between $100 million-$125 million annually.  Operating company
debt is generally funded in local currencies, reducing foreign
exchange risk.  The term loan and revolver are structurally
subordinate to operating company debt and rely on dividends from
the key assets.  Parent company debt also includes $560 million of
subordinate PIK notes which have limited acceleration rights.
Over the medium term, projected 2008 dividend cash flows to AEI
are expected to cover debt service by slightly more than 4x on
average.

Ashmore Energy International owns and operates a portfolio of
energy infrastructure assets in power generation, transmission,
and distribution of natural gas, gas liquids, and electric power.
AEI's portfolio, directly or indirectly, consists of 19 companies
in 14 countries, most of which are located in Latin America.  The
company's largest asset is Brazilian electric distribution
company, Elektro, which represents approximately 43% of EBITDA,
and 55.3% of fiscal 2006 consolidated cash flow to parent company
AEI.  Consolidated revenues and EBITDA are approximately
$2.5 billion and $650 million-$675 million, respectively.
Consolidated debt and balance sheet cash are expected to be $2.5
billion and $1.0 billion, respectively, at fiscal year-end 2006.


ASSET BACKED: DBRS Puts Ratings on Review with Neg. Implications
----------------------------------------------------------------
Dominion Bond Rating Service placed two classes Under Review with
Negative Implications from two Asset Backed Securities Corporation
Home Equity Loan Trust Transactions:

   -- $28,927,000 Asset Backed Pass-Through Certificates, Series
      NC 2005-HE8, Class M10, currently rated BB (high)

   -- $7,463,000 Asset Backed Pass-Through Certificates, Series NC
      2006-HE2, Class M11, currently rated BB (high)

The above classes were placed Under Review with Negative
Implications as a result of the increased 90+ day delinquency
pipeline relative to the available level of credit enhancement.
The mortgage loans consist of fixed-rate and adjustable-rate
first-lien and second-lien mortgage loans.

The mortgage loans in the Underlying Trusts were acquired by Asset
Backed Securities Corporation Home Equity Loan Trust from New
Century Mortgage Corporation.


BEAR STEARNS: DBRS Rates $9 Million Class XI-A-4 Certs. at B
------------------------------------------------------------
Dominion Bond Rating Service assigned these ratings to the NIM
Notes, Series 2007-N2-IV and 2007-N2-XI issued by Bear Stearns
Structured Products Inc. NIM Trust 2007-N2.

   -- $12.7 million Class IV-A-1 rated at A
   -- $1.8 million Class IV-A-2 rated at BBB
   -- $1.5 million Class IV-A-3 rated at BB
   -- $0.75 million Class IV-A-4 rated at B
   -- $13.9 million Class XI-A-1 rated at A (low)
   -- $3.8 million Class XI-A-2 rated at BBB (low)
   -- $1.6 million Class XI-A-3 rated at BB (high)
   -- $9 million Class XI-A-4 rated at B

The NIM Notes, Series 2007-N2-IV are backed by 100% interest in
the underlying Class I-B-IO and Class I-XP Certificates issued by
SAMI II Trust 2007-AR1.  The NIM Notes, Series 2007-N2-XI are
backed by 100% interest in the underlying Class C Certificates
issued by the underlying BSMF 2007-SL1 Trust.  The underlying
Class I-B-IO and I-XP and Class C Certificates will be entitled to
receive the excess cash flows and prepayment charges, if any,
generated by the mortgage loans each month after payment of all
the required distributions.  The NIM Notes, Series 2007-N2-XI will
also be entitled to the benefits of underlying swap agreements
with Bear Stearns Financial Products Inc.

Payments on the NIM Notes, Series 2007-N2-IV will be made on the
second business day after the distribution date of the underlying
certificates, commencing in February 2007.  Payments on the NIM
Notes, Series 2007-N2-XI will be made on the first business day
after the distribution date of the underlying certificates,
commencing in February 2007.

In the case of NIM Notes, Series 2007-N2-IV, the distribution
of interest will be made sequentially to noteholders of Classes
IV-A-1 through IV-A-4.  Principal distribution will be made
sequentially to noteholders of Classes IV-A-1 through IV-A-4 until
the principal balance of each such class has been paid to zero.
Any remaining amounts will be paid in full to the holders of the
Class IV-C Notes issued by the NIM Trust.

In the case of NIM Notes, Series 2007-N2-XI, the distribution of
interest will also be made sequentially to noteholders of Classes
XI-A-1 through XI-A-3.  Principal distribution will be made
sequentially to noteholders of Classes XI-A-1 through XI-A-4 until
the principal balance of each such class has been paid to zero.
Any remaining amounts will be paid in full to the noteholders of
the Class XI-C issued by the NIM Trust.

The Classes IV-C, XI-C Notes, as well as the NIM Notes, Series
2007-N2-I, Series 2007-N2-II, Series 2007-N2-III, Series 2007-N2-
V, Series 2007-N2-VI, Series 2007-N2-VII, Series 2007-N2-VIII,
Series 2007-N2-IX, Series 2007-N2-X, Series 2007-N2-XII, Series
2007-N2-XIII, and Series 2007-N2-XIV, are not rated by DBRS.

The mortgage loans in the SAMI II Trust 2007-AR1 were primarily
originated or acquired by Bear Stearns Residential Mortgage
Corporation and EMC Mortgage Corporation from various originators
through the conduit correspondent channel.  The loans from the
SAMI II 2007-AR1 Trust are first-lien, option adjustable rate
mortgages, primarily indexed to the 12-month treasury average
with a negative amortization feature.

Approximately 72.80% of the mortgage loans in the BSMF Trust
2007-SL1 were purchased by EMC Mortgage Corporation from various
originators through the conduit correspondent channel and the
remaining 27.20% were originated by Bear Stearns Residential
Mortgage Corporation.  The loans from the BSMF Trust 2007-SL1
are fixed-rate, second-lien mortgage loans, which are subordinate
to the senior-lien mortgage loans on the respective properties.


BIO-RAD LABORATORIES: Earns $16.6 Million in 2006 Fourth Quarter
----------------------------------------------------------------
Bio-Rad Laboratories Inc. reported that for fourth quarter ended
December 31, 2006, revenues were $343.1 million, up 11.6% compared
to $307.3 million reported for the fourth quarter of 2005.  On a
currency-neutral basis, revenues increased 7.6% compared to the
same period last year.  This growth was primarily organic across
product areas in both the Life Science and Clinical Diagnostics
segments complemented by two acquisitions completed during the
fourth quarter.

Income from continuing operations for the fourth quarter was
$16.6 million compared to $13.5 million during the fourth quarter
last year.  Fourth-quarter gross margin from continuing operations
was 54.1% compared to 52.9% in the same period last year.

For the full year, Company sales grew by 7.9% to $1,273.9 million
compared to $1,181.0 in 2005.  Normalizing for the impact of
currency effects, growth was 7.7%. Favorable impacts on year-to-
date figures for 2006 include a Russian tender won in the first
quarter for laboratory equipment as well as one-time additional
revenue of $11.7 million resulting from a licensing settlement
agreement reached with bioMerieux SA.  Full-year gross margin from
continuing operations was 55.9%, up from last year's figure of
54.7%.

Year-over-year income from continuing operations grew 33.1% to
$103.3 million, from $77.6 million, in 2005.

"2006 was a year of continued progress on many fronts," said
Norman Schwartz, Bio-Rad president and chief executive officer.
"The year brought increased organic growth within our core
businesses, expansion of our product lines through new product
introductions and strategic acquisitions, and infrastructure
improvements. As a result, Bio-Rad is well-positioned in key
market areas and has a strengthened foundation for the long term."

                        Life Science

The Life Science segment net sales for the quarter were
$159.0 million, up 13.0% compared to the fourth quarter of last
year.  On a currency-neutral basis, segment sales increased by
8.8%. Full-year reported revenues were $575.6 million for the
segment, up 4.7% over the prior year, or 4.6% on a currency-
neutral basis. Performance in the Life Science segment was boosted
by a number of factors including significant growth in protein
expression analysis, process chromatography, and amplification
reagents.  In addition, the segment benefited from the purchase of
Ciphergen Biosystems, Inc.'s life science business including
worldwide technology rights to Ciphergen's Surface Enhanced Laser
Desorption/Ionization (SELDI) technology and ProteinChip(R)
System.  These results were somewhat tempered by reduced BSE
revenue and slowed life science markets in the U.S. and Japan.

                    Clinical Diagnostics

The Clinical Diagnostics segment reported net sales of $180.1
million for the quarter, up 10.6% compared to the prior-year
quarter, or 6.5% excluding currency effects. Full-year segment
sales were $684.9 million, a 10.8% increase compared to 2005
results, or 10.4% excluding currency effects. These results were
largely due to continued growth across all product lines, most
notably blood virus products as well as MRSASelect(TM) chromogenic
media, which detects Methicillin-resistant Staphylococcus aureus.
Sales of quality controls product lines were also up significantly
during the quarter. During the quarter, the segment completed the
purchase of Blackhawk BioSystems, Inc., a manufacturer of
infectious disease quality control products.

                      2006 Full Year Review

     * Full-year Company sales grew by 7.9% to $1,273.9 million.

     * Year-over-year income from continuing operations grew by
       33.1% to $103.3 million from $77.6 million in 2005.

     * In February of 2006, the Company settled litigation and
       resumed U.S. sales of certain thermal cycling products.

     * In April, the Company announced that it had signed a
       multi-year agreement in which Premier, one of the largest
       group purchasing organizations in the U.S., had agreed to
       a 3-year sole-source contract with Bio-Rad covering
       diabetes monitoring instrumentation and products.

     * As a result of a settlement reached with bioMerieux SA, in
       the second quarter Bio-Rad reported additional revenue of
       $11.7 million in royalties and licensing fees.

     * Also during the second quarter, the segment launched a
       number of products including Platelia(R) Dengue NS1 Ag
       Assay for dengue screening; a diagnostic test for celiac
       disease, an autoimmune disorder; and a new Rack Loader for
       use in conjunction with the D-10(TM) Hemoglobin Testing
       System, which expanded the sample handling capacity of the
       system to 50 samples per run.

     * In September, Bio-Rad announced the availability of the
       ProteOn(TM) XPR36 Protein Interaction Array System. In
       addition, the Company announced that it had completed the
       purchase of the diagnostics business of Provalis plc, a
       provider of point of care diagnostic products for chronic
       disease management of diabetes and osteoporosis.

     * In October, Bio-Rad announced that it had acquired
       Blackhawk BioSystems, Inc., a manufacturer of quality
       control products used in laboratories that perform
       infectious disease testing procedures.

     * In November, Bio-Rad completed the purchase of Ciphergen
       Biosystems, Inc.'s life science business including
       worldwide technology rights to Ciphergen's Surface
       Enhanced Laser Desorption/Ionization (SELDI) technology
       and ProteinChip(R) System.

Management held a conference call on February 22, 2007.  A replay
of the call will be available at 888-286-8010 (in the U.S.), or
617-801-6888 (international), access number 21671774, for seven
days following the call and the webcast can be accessed at
http://www.bio-rad.com/for 30 days.

                          About Bio-Rad

Headquartered in Hercules, California, Bio-Rad Laboratories, Inc.
(AMEX: BIO) (AMEX: BIOb) -- http://www.bio-rad.com/-- is a
multinational manufacturer and distributor of life science
research products and clinical diagnostics.  It serves more than
85,000 research and industry customers worldwide through its
global network of operations.  The company employs over 5,000
people globally and had revenues of nearly $1.3 billion in 2006.

                          *     *     *

As reported in the Troubled Company Reporter on Oct. 12, 2006,
Moody's Investors Service confirmed its Ba2 Corporate Family
Rating for Bio-Rad Laboratories Inc. in connection with its
implementation of its Probability-of-Default and Loss-Given-
Default rating methodology.


CASINO DRYWALL: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Casino Drywall, Inc.
        2680 Northwest 15th Court
        Pompano Beach, FL 33069
        Tel: (954) 974-4455

Bankruptcy Case No.: 07-11185

Type of Business: The Debtor is a drywall contractor.

Chapter 11 Petition Date: February 26, 2007

Court: Southern District of Florida (Fort Lauderdale)

Judge: Raymond B. Ray

Debtor's Counsel: Edward J. Peterson, III, Esq.
                  Stichter, Riedel, Blain & Prosser, P.A.
                  110 East Madison Street, Suite 200
                  Tampa, FL 33602
                  Tel: (813) 229-0144
                  Fax: (813) 229-1811

Estimated Assets: $100,000 to $1 Million

Estimated Debts:  $1 Million to $100 Million

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


CEDAR FAIR: Inks $2 Billion Credit Agreement
--------------------------------------------
Cedar Fair L.P. and 3147010 Nova Scotia Company, its subsidiary,
entered into a $2 billion credit agreement with:

   Bear Stearns Corporate
   Lending Inc.                   Syndication Agent

   Wachovia Bank National
   Association and General
   Electric Capital Corporation   Co-Documentation Agents

   GE Canada Finance
   Holding Company                Canadian Administrative Agent

   National City                  Canadian Syndication Agent

   Fifth Third Bank               Canadian Documentation Agent

   KeyBank National               Administrative Agent
   Association                    and Collateral Agent.

The Credit Agreement amends and restates in its entirety entered
into by Cedar Fair L.P., 3147010 Nova Scotia Company and certain
financial institutions as of June 30, 2006.

The credit facilities provided under the Credit Agreement
include a $1.4 billion U.S. term loan, $310 million in U.S.
revolving loan commitments, a $268 million Canadian term loan
and $35 million in Canadian revolving loan commitments.  The term
loans bear interest at either a rate based on the London interbank
offered rate plus a margin of 2% or a rate based on the prime rate
announced from time to time by KeyBank National Association plus a
margin of 1%.

Loans made under the revolving loan commitments bear interest at
either a rate based on the London interbank offered rate plus a
margin ranging from 1.75% to 2.50% or a rate based on the prime
rate announced from time to time by KeyBank National Association
plus a margin ranging from 0.75% to 1.50%.  Loans made under the
Canadian revolving commitments may also bear interest at a rate
based on the Canadian Prime Rate plus a margin ranging from 0.75%
to 1.50%.

The Credit Agreement also provides for the issuance of documentary
and standby letters of credit.  The U.S. term loan matures on
Aug. 30, 2012; the Canadian term loan matures on Feb. 17, 2012;
and the U.S. revolving commitments and the Canadian revolving
commitments expire on Aug. 30, 2011.

Certain of the lenders party to the Credit Agreement and certain
of their respective affiliates, have performed for Cedar Fair,
L.P. and its subsidiaries, various commercial banking, investment
banking, underwriting and other financial advisory services, for
which they have received, and will receive, customary fees and
expenses.

                        About Cedar Fair

Cedar Fair LP owns and operates seven amusement and water parks in
the United States.  The Company is based in Sandusky, Ohio.

                          *     *     *

As reported in Troubled Company Reporter on Dec. 6, 2006,
Standard & Poor's Ratings Services affirmed Cedar Fair L.P.'s 'B+'
corporate credit rating and revised its outlook on to stable from
positive.


CELESTICA INC: Incurs $60.8 Mil. Net Loss in 2006 Fourth Quarter
----------------------------------------------------------------
Celestica Inc. reported $60.8 million of net loss on $2.26 billion
of revenue for the fourth quarter ended Dec. 31, 2006 compared
with $28.2 million net loss on $2.07 billion of revenue for the
same period of 2005.

"While revenues for the fourth quarter came in above the high-end
of the updated guidance, our financial results were extremely
disappointing.  The year to year growth in the consumer segment
was offset by higher than expected demand reductions from several
key customers in the telecommunications segment.  This demand
reduction along with the impact of the inventory provision taken
in Mexico significantly impacted operating margins," said Craig
Muhlhauser, President and Chief Executive Officer, Celestica.

"We have implemented and will continue to implement aggressive
actions to materially improve the performance of our Mexican
facilities by standardizing our ERP platform, re-architecting our
warehouse logistics and strengthening the local management team
while driving more efficiency and cost reductions.  In light of
our current outlook, we are also reducing our overhead structures
and costs globally.  These actions will result in an additional
$60 to $80 million of restructuring charges, $40 million of which
has been recorded in the fourth quarter, with the remaining
charges to be incurred during 2007."

                   About Celestica Inc.

Based in Toronto, Ontario, Celestica, Inc. (NYSE: CLS, TSX:
CLS/SV) -- http://www.celestica.com/-- provides electronic
manufacturing services to original equipment manufacturers in
the computing, telecommunications, aerospace and defense,
automotive, consumer electronics, and industrial sectors in
Asia, Mexico, Puerto Rico, Brazil, and Europe.  Its solutions
comprise design and engineering, manufacturing and systems
integration, and fulfillment, as well as after-market services.

The company has a strategic alliance with Bartolini Progetti
S.p.a.  Celestica was incorporated as Celestica International
Holdings, Inc. in 1996 and changed its name to Celestica, Inc.
The company is based in Toronto, Canada.  Celestica, Inc. is a
subsidiary of the Onex Corp.

                        *    *    *

As reported in the Troubled Company Reporter on Feb. 2, 2007,
Standard & Poor's Ratings Services placed its ratings, including
its 'BB-' long-term corporate credit rating, on Celestica Inc.
on CreditWatch with negative implications.


CHARTER COMM: Expects $1.413 Billion Profit in Fourth Quarter 2006
------------------------------------------------------------------
Charter Communications, Inc. reported preliminary, unaudited
results for the fourth quarter of 2006, in connection to providing
information to certain potential investors in proposed new credit
facilities in conjunction with the refinancing and expansion of
its existing credit facilities.

Charter expects revenues for the of $1.413 billion, which
represents an increase of 11.7% compared to the same period in
2005 on a pro forma basis, and an increase of approximately 9.8%
on an actual basis.

Operating expenses increased by $89 million, or 10.8%, in the
fourth quarter of 2006 compared to the fourth quarter of 2005 on
an actual basis, due in large part to increased programming
expense from annual rate increases and higher volumes of advanced
services purchases, well as expenditures to support higher rates
of customer growth and retention related to Charter's accelerated
telephone roll out.

Charter expects annual revenues will increase 10% compared to pro
forma 2005, and pro forma adjusted EBITDA will increase 5.3%
compared to pro forma 2005.  The company expects actual annual
revenues to be $5.504 billion; an increase of 9.4% compared to
2005, and adjusted EBITDA to be $1.941 billion, an increase of
4.5% compared to 2005.

Certain financial comparisons are made on a pro forma basis,
adjusted for the acquisition of cable systems in January 2006 and
the sales of certain cable systems in July 2005 and the third
quarter of 2006 as if they occurred on Jan. 1, 2005.  However, all
transactions completed in January 2006 and the third quarter of
2006 have been reflected in the operating statistic comparisons.

Capital expenditures for the fourth quarter of 2006 are expected
to be $308 million, which would be higher than capital
expenditures of $273 million during the same quarter in the prior
year.  Capital expenditures for the full year 2006 are expected to
be $1.103 billion, compared to $1.088 billion in 2005.
Approximately 75% of Charter's 2006 capital expenditures were
success-based, up from 68% in 2005.  During 2007, Charter expects
capital expenditures to be $1.2 billion.

As of Dec. 31, 2006, Charter had $19.062 billion in long-term
debt, including $5.395 billion in credit facilities at Charter
Communications Operating, LLC.  Charter reported the initiation of
a syndication to refinance and expand its senior credit
facilities.  Upon completion of the syndication process and the
closing of this transaction, the company expected to have adequate
liquidity to fund its operations and service its debt through
2008.

Charter will announce complete financial and operating results on
Feb. 28, 2007 at a conference call.

                   About Charter Communications

Headquartered in St. Louis, Missouri, Charter Communications Inc.
(NASDAQ:CHTR) -- http://www.charter.com/-- is a broadband
communications company and a publicly traded cable operator in the
United States.  Charter provides advanced broadband services,
including Charter Digital(R) video entertainment programming,
Charter High-Speed(TM) Internet access service, and Charter
Telephone(TM) services.  Charter Business(TM) provides scalable,
tailored and cost-effective broadband communications solutions
such as business-to-business Internet access, data networking,
video and music entertainment services and business telephone.
Charter's advertising sales and production services are sold under
the Charter Media(R) brand.

                          *     *     *

As reported in the Troubled Company Reporter on Feb. 15, 2007,
Standard & Poor's Ratings Services placed its ratings on
Charter Communications Inc. and its subsidiary Charter
Communications Holdings LLC, including the 'CCC+' corporate credit
ratings, on CreditWatch with positive implications.


CLEAR CHANNEL: Fourth Quarter 2006 Revenues Ups to $1.94 Billion
----------------------------------------------------------------
Clear Channel Communications Inc.'s revenues for the fourth
quarter ended Dec. 31, 2006, increased 11% to $1.94 billion,
from $1.75 billion for the fourth quarter of 2005.  Included in
the company's revenue is a $32.4 million increase due to movements
in foreign exchange; strictly excluding the effects of the
movements in foreign exchange, revenue growth would have been 9%.

Clear Channel's expenses increased 8% to $1.2 billion during the
fourth quarter of 2006 compared to 2005.  Included in the
company's 2006 expenses is approximately $8.7 million of non-cash
compensation expense, a $27.7 million increase due to movements in
foreign exchange and a $9.8 million reduction as a result of
a favorable settlement of a legal proceeding.

Clear Channel's income before discontinued operations increased
15% to $210.1 million, as compared to $182.7 million for the same
period in 2005.

                     Full Year 2006 Results

For the full year, the company reported revenues of $7.07 billion,
an increase of 7% when compared to revenues of $6.58 billion for
the same period in 2005.  Included in the company's revenue is a
$17.4 million increase due to movements in foreign exchange.

The company's expenses increased 6% to $4.6 billion during the
year compared to 2005.  Included in the company's expenses is
approximately $35.2 million of non-cash compensation expense and a
$14.6 million increase due to movements in foreign exchange.

During 2005, the company restructured its business in France and
recorded approximately $26.6 million in restructuring charges.
The company's income before discontinued operations was
$688.8 million.  This compares to income before discontinued
operations of $633.6 million in 2005.

The company's full year 2006 net income included approximately
$35.7 million of pre-tax gains primarily on the divestitures of
radio assets and the swap of certain outdoor assets.  Excluding
these gains, Clear Channel's 2006 income before discontinued
operations would have been $667.7 million.

                      Fourth Quarter Events

On Nov. 16, 2006, the company agreed to be acquired by a group of
private equity funds led by Bain Capital Partners LLC and Thomas
H. Lee Partners L.P.  The transaction is subject to shareholder
approval, antitrust clearances, FCC approval and other customary
closing conditions.  The company filed its definitive proxy
statement with the Securities and Exchange Commission on Jan. 29,
2007, and the shareholder meeting will be held March 21, 2007.

Also on Nov. 16, 2006, the company announced plans to sell 448 of
its 1,176 radio stations, all located outside the top 100 U.S.
media markets, as well as all of its television stations.  The
sale of these assets is not contingent on the closing of the Bain
Capital deal.  Definitive asset purchase agreements were signed
for the sale of 39 radio stations as of Dec. 31, 2006.  The
stations, along with 5 stations sold in the fourth quarter of
2006, were classified as assets held for sale in the consolidated
balance sheet and as discontinued operations in the consolidated
statements of operations.

The company's 2006 revenue increased from foreign exchange
movements of approximately $32.4 million for the fourth quarter
and $17.4 million for the full year as compared to the same period
of 2005.

                 Return of Capital to Shareholders

During 2006, the company repurchased 46.7 million shares of its
common stock for approximately $1.4 billion.  The company has
repurchased a total of 130.9 million shares for approximately
$4.3 billion under its share repurchase programs since March 2004.

As a result of the company's proposed merger transaction announced
on Nov. 16, 2006, the company will not be hosting a teleconference
or webcast to discuss results.

                 Liquidity and Financial Position

For the year ended Dec. 31, 2006, cash flow from operating
activities was $1.8 billion, cash flow used by investing
activities was $641.4 million, cash flow used by financing
activities was $1.2 billion, and net cash provided by discontinued
operations was $9.7 million for a net increase in cash of
$31.2 million.

As of Dec. 31, 2006, 69% of the company's debt bears interest at
fixed rates while 31% of the company's debt bears interest at
floating rates based upon LIBOR.  The company's weighted average
cost of debt at Dec. 31, 2006, was 6.1%.

On Feb. 1, 2007, the company redeemed its 3.125% Senior Notes at
their maturity for $250.0 million plus accrued interest with
proceeds from its bank credit facility.

As of Feb. 22, 2007, the company had approximately $571.8 million
available on its bank credit facility.  The company may utilize
existing capacity under its bank facility and other available
funds for general working capital purposes including funding
capital expenditures, acquisitions, stock repurchases and the
refinancing of certain public debt securities.  Capacity under the
facility can also be used to support commercial paper programs.
Redemptions or repurchases of securities will occur through open
market purchases, privately negotiated transactions, or other
means.

                About Clear Channel Communications

Based in San Antonio, Texas, Clear Channel Communications Inc.
-- http://www.clearchannel.com/-- (NYSE:CCU) is a global leader
in the out-of-home advertising industry with radio and television
stations and outdoor displays in various countries around the
world.  Aside from the U.S., the company operates in 11 countries
-- Norway, Denmark, the United Kingdom, Singapore, China, the
Czech Republic, Switzerland, the Netherlands, Australia, Mexico
and New Zealand.

                          *     *     *

Clear Channel's long-term local and foreign issuer credits carry
Standard & Poor's BB+ rating.

In addition, the company's senior unsecured debt and long-term
issuer default ratings were placed by Fitch at BB- on Nov. 16,
2006.


CNH GLOBAL: Earns $35 Million in Fourth Quarter 2006
----------------------------------------------------
CNH Global N.V. reported fourth quarter 2006 net income of
$35 million, up compared to net income of $7 million in the fourth
quarter of 2005.  Results include restructuring charges, net of
tax, of $58 million in the fourth quarter of 2006, and $36 million
in 2005.

Full year 2006 net income of $292 million was up 79% compared to
net income of $163 million in 2005.  Results include restructuring
charges, net of tax, of $71 million in 2006, and $60 million in
2005.

"Our Equipment Operations gross margin improvement continued into
the fourth quarter, up 1.9 percentage points compared with last
year and up 2.1 percentage points for the full year compared with
last year.  By refocusing our efforts on our dealers and
customers, we have set the stage for continued future
improvements," said Harold Boyanovsky, CNH president and chief
executive officer.  "While we are pleased with the progress made
in 2006, we have set even more aggressive targets to continue
improving results in 2007."

Financial highlights for the full year include:

-- The company's improved product value positioning with customers
   allowed it to maintain pricing at a higher level than its total
   economics and currency-related cost increases, resulting in
   positive net price recovery for both Agricultural and
   Construction Equipment Operations.

-- Research and development spending increased 21% from 2005,
   reflecting CNH's continued investments in product innovation
   and quality.

-- Restructuring costs totaling $71 million, net of taxes, were
   booked in the year, principally related to the actions
   announced in October.

-- Inventory levels at the end of 2006 of 4 forward months of
   supply, were slightly lower than at the end of 2005.

Net sales of equipment, comprising the company's agricultural and
construction equipment businesses, were $12.1 billion, up 3%
compared to $11.8 billion in 2005.  Net of currency variations,
net sales increased 2%.

Agricultural equipment net sales of $7.8 billion were essentially
the same as in 2005.  Excluding currency variations, net sales
were down 1%.

Construction equipment net sales increased 9% to $4.3 billion,
compared to the prior year.  Net sales increased for positive
pricing, sales of new products, favorable volume and mix and
favorable effects of exchange rate changes.  Net sales were up 8%
excluding currency variations.

Financial Services operations reported 11% higher net income of
$222 million, compared to $200 million last year, reflecting
portfolio growth in North America and Brazil and higher gains on
asset backed securitizations partially offset by higher funding
costs, higher SG&A, including increased provisions for credit
losses on the Brazilian agricultural portfolio as a result of
government sponsored renegotiation programs, and higher other
expense.

                  Net Debt and Operating Cash Flow

Equipment Operations net debt (defined as total debt less cash and
cash equivalents, deposits in Fiat affiliates cash management
pools and intersegment notes receivables) was $263 million on
Dec.  31, 2006, compared to $378 million at Sept. 30, 2006, and
$719 million at Dec. 31, 2005.  Net debt to net capitalization was
4.9% at Dec. 31, 2006, down from 12.5% at Dec. 31, 2005.

In the quarter, net debt decreased by $115 million.  $191 million
of cash was generated by operating activities, primarily from
earnings and decreased working capital.  Capital expenditures, in
the quarter, were $99 million.

For the year, net debt decreased by $456 million.  $715 million of
cash was generated by operating activities, primarily from
earnings.  Capital expenditures, for the year, were $213 million.

In the first quarter of 2006, CNH's wholly owned subsidiary, Case
New Holland Inc., issued $500 million of 7.125% Senior Notes due
2014 in a private offering, to repay debt to Fiat and debt
guaranteed by Fiat.  In July, Case New Holland Inc. exchanged 100%
of these notes for 7.125% Senior Notes due 2014 that were
registered under the Securities Act of 1933, as amended.

Financial Services net debt increased by $725 million to
$4.5 billion at Dec. 31, 2006, from Dec. 31, 2005, driven
primarily by retail portfolio growth in North America and Brazil.

                          About CNH Global

CNH Global N.V. (NYSE: CNH) -- http://www.cnh.com/-- is a world
leader in the agricultural and construction equipment businesses.
Supported by more than 11,000 dealers in 160 countries, CNH brings
together the knowledge and heritage of its Case and New Holland
brand families with the strength and resources of its worldwide
commercial, industrial, product support and finance organizations.
CNH Global N.V. is a majority-owned subsidiary of Fiat S.p.A.

                           *     *     *

As reported in the Troubled Company Reporter on Jan. 30, 2007,
Standard & Poor's Ratings Services revised its outlook on CNH
Global N.V., rated 'BB', to positive from stable following the
same rating action by Standard & Poor's on CNH's parent company,
Italy-based Fiat S.p.A.


DAIMLERCHRYSLER: Chrysler's Bidding Process May Start This Week
---------------------------------------------------------------
DaimlerChrysler AG's Chrysler Group's bidding process is likely to
start this week, The Detroit News reports.

J.P. Morgan Chase & Co. will hand out a detailed prospectus to a
limited number of potential buyers, which includes Cerberus
Capital, Apollo Management, the Carlyle Group, and the Blackstone
Group, The Detroit News adds.

                           OAO Gaz Group

One potential bidder is OAO Gaz Group, Russia's second largest
auto company, German weekly Focus magazine notes.  Chrysler
supplies four-cylinder engines for cars and mini-vans to Gaz.

                          General Motors

According to the Financial Times, if a deal between
DaimlerChrysler and General Motors Corp. for Chrysler will push
through, the German-based automaker will consider buying a
minority stake in the U.S.-based company.

                         Other Automakers

In a TCR story on Feb. 23, 2007, Volkswagen AG, Renault SA, and
Nissan Motor Co. say they are not currently interested in buying
Chrysler, various news agencies report.

                       About DaimlerChrysler

Headquartered in Stuttgart, Germany, DaimlerChrysler AG --
http://www.daimlerchrysler.com/-- develops, manufactures,
distributes, and sells various automotive products, primarily
passenger cars, light trucks, and commercial vehicles worldwide.
It primarily operates in four segments: Mercedes Car Group,
Chrysler Group, Commercial Vehicles, and Financial Services.

The Chrysler Group segment offers cars and minivans, pick-up
trucks, sport utility vehicles, and vans under the Chrysler, Jeep,
and Dodge brand names.  It also sells parts and accessories under
the MOPAR brand.

The Chrysler Group is facing a difficult market environment in the
United States with excess inventory, non-competitive legacy costs
for employees and retirees, continuing high fuel prices and a
stronger shift in demand toward smaller vehicles.  At the same
time, key competitors have further increased margin and volume
pressures -- particularly on light trucks -- by making significant
price concessions.  In addition, increased interest rates caused
higher sales & marketing expenses.

In order to improve the earnings situation of the Chrysler Group
as quickly and comprehensively, measures to increase sales and cut
costs in the short term are being examined at all stages of the
value chain, in addition to structural changes being reviewed as
well.


DAIMLERCHRYSLER: Magna Makes Chrysler's New Seating Features
------------------------------------------------------------
Intier Automotive Seating, an operating unit of Magna
International Inc., in conjunction with Chrysler Group, has co-
engineered and manufactured new seating features for Chrysler
Group's 2008 Dodge Grand Caravan and 2008 Chrysler Town & Country.

Chrysler Group's new 2008 minivans, unveiled at this year's North
American International Auto Show, offer three distinct seating and
storage options.

The newest seating option is a cutting-edge seating technology
called Swivel 'n Go(TM).  It includes second-row quad seats that
swivel 180 degrees rearward to face the third-row seats.

Swivel 'n Go also includes a removable table that installs between
the second- and third-row seats.  The seats swivel outward, which
eases entry and exit or the placement of a child in a car seat.
Both swiveling seats can also be removed.

Heated cloth or leather first- and second-row seats are available
in the Swivel 'n Go and industry-exclusive Stow 'n Go(R) seating
and storage system configurations in the 2008 Chrysler Group
minivans.

"Consumers today are spending more and more time in their
vehicles, ultimately placing a greater emphasis on comfort and
convenience," says Jeff Lambert, Intier Automotive Seating Chief
Engineer for the Chrysler Group minivan seats.

"The Swivel 'n Go seating system, an industry-first in the North
American market, raises the bar by offering a family room on
wheels."

To further enhance the new minivans, Chrysler Group worked with
Intier Automotive Seating to develop a powered version of its
fold-in-the-floor third-row seat.

The one-touch operation, which stows the seat in less than
15 seconds, is a minivan first.  The one-touch, power-folding,
third-row seat will stow in four different modes.

Depending on the passenger/cargo needs, the entire seat can stow,
be in tailgate mode or each section of the seat can stow or
tailgate individually.

The third-row, power-folding seat also includes an obstacle-
detection system that will stop the seat from folding in the event
a person or object is in the way.

"Our drive at Intier Seating is to accommodate our customer's
unique functional requests and to provide innovative applications
like these that translate into market advantages for the vehicle,"
said Joe Pittel, president of Intier Automotive Seating.

Swivel 'n Go and Stow 'n Go are registered trademarks of
DaimlerChrysler Corporation.

                  About Intier Automotive Seating

Intier Automotive Seating is an innovative leader in the
development and manufacturing of complete seating systems and
seating mechanisms for the automotive industry.

                     About Magna International

Magna International Inc. designs, develops, and manufactures
automotive systems, assemblies, modules, and components, and
engineers and assembles complete vehicles, primarily for sale to
original equipment manufacturers of cars and light trucks in North
America, Europe, Asia, and South America.  Its capabilities
include the design, engineering, testing, and manufacture of
automotive interior and closure systems; metal body and structural
systems; exterior and interior mirror and engineered glass
systems; exterior systems, including front and rear end modules,
plastic body panels, exterior trim and other systems; various
powertrain and drivetrain systems; as well as, complete vehicle
engineering and assembly.

Magna International has approximately 84,000 employees in 228
manufacturing operations and 62 product development and
engineering centers in 23 countries.

                       About DaimlerChrysler

Based in Stuttgart, Germany, DaimlerChrysler AG --
http://www.daimlerchrysler.com/-- develops, manufactures,
distributes, and sells various automotive products, primarily
passenger cars, light trucks, and commercial vehicles worldwide.
It primarily operates in four segments: Mercedes Car Group,
Chrysler Group, Commercial Vehicles, and Financial Services.

The Chrysler Group segment offers cars and minivans, pick-up
trucks, sport utility vehicles, and vans under the Chrysler, Jeep,
and Dodge brand names.  It also sells parts and accessories under
the MOPAR brand.

The Chrysler Group is facing a difficult market environment in the
United States with excess inventory, non-competitive legacy costs
for employees and retirees, continuing high fuel prices and a
stronger shift in demand toward smaller vehicles.  At the same
time, key competitors have further increased margin and volume
pressures -- particularly on light trucks -- by making significant
price concessions.  In addition, increased interest rates caused
higher sales & marketing expenses.

In order to improve the earnings situation of the Chrysler Group
as quickly and comprehensively, measures to increase sales and cut
costs in the short term are being examined at all stages of the
value chain, in addition to structural changes being reviewed as
well.


DRS TECHNOLOGIES: Earns $35.1 Million in 2007 Third Fiscal Quarter
------------------------------------------------------------------
DRS Technologies, Inc. reported record financial results for the
fiscal 2007 third quarter and nine-month period, which ended
Dec. 31, 2006.

Fiscal 2007 third quarter revenues were $680.4 million, 75% higher
than revenues of $389.5 million for last year's third quarter.
The company's organic revenue growth, accounted for 12.6% sales
increase, with the balance of the increase attributable to the
company's acquisition of Engineered Support Systems, Inc.
completed in the fourth quarter of fiscal 2006.

The company's operating income of $76.6 million in the quarter was
71% higher than the $44.8 million reported for the third quarter
of fiscal 2006.  The increase was attributable to the higher
overall sales volume.  The operating margin for the fiscal 2007
third quarter was 11.3%.

Interest and other expense, net for the third quarter of fiscal
2007 was $29.8 million, compared with $10.3 million for the same
quarter a year ago.  The increase was due to higher interest
expense related to borrowings associated with financing the ESSI
acquisition.

The effective income tax rate for the fiscal 2007 third quarter
was 25%, compared with 42 for last year's third quarter.

Net earnings for the third quarter of fiscal 2007 were
$35.1 million, 78% above net earnings of $19.7 million for the
same quarter last year.

Net cash provided by operating activities for the third quarter of
fiscal 2007 was $29.3 million, compared with $24.5 million for the
third quarter last year.  Free cash flow was $18.4 million for the
third quarter of fiscal 2007, versus $14.4 million for the fiscal
2006 third quarter.  Capital expenditures were $10.9 million for
the third quarter of fiscal 2007, compared with $10.1 million for
the same quarter last year.

                     Balance Sheet Highlights

At Dec. 31, 2006, the company's balance sheet showed total assets
of $4.17 billion compared to $ 4.029 billion at March 31, 2006 and
total liabilities of $2.71 billion compared to $2.67 billion at
March 31, 2006, with total shareholders equity of $ 1.45 billion
compared to $1.35 billion at March 31, 2006.

At Dec. 31, 2006, the company had $49.6 million in cash and cash
equivalents, compared with $1.3 million at March 31, 2006, the
company's fiscal 2006 year-end.

Total debt at Dec. 31, 2006 was $1.86 billion, up $26.3 million
from March 31, 2006, the prior fiscal year end, though
$12.1 million lower sequentially from the fiscal 2007 second
quarter.  Net debt was $1.81 billion at the end of the third
quarter.  The company had borrowings of $70 million against its
$400 million revolving credit facility at Dec. 31, 2006.
Stockholders' equity increased to $1.45 billion at the end of the
third quarter of fiscal 2007, up 7 percent from $1.35 billion at
March 31, 2006.

                  Fiscal 2007 Nine-Month Results

For the first nine months of fiscal 2007, DRS posted record
revenues of $2.02 billion, 86% above revenues of $1.09 billion for
the same period last year.  Higher revenues for the nine-month
period were attributable to the company's acquisition of ESSI in
the fourth quarter of fiscal 2006, well as to strong organic
growth, especially in the company's ground vehicle sighting and
targeting systems, uncooled infrared products, embedded vehicle
diagnostics systems and international naval sensor systems product
lines.  Organic revenue growth accounted for 14.8% of the increase
in the nine-month period.

Operating income for the first nine months of fiscal 2007 was a
record $213.5 million, 80% above the $118.5 million reported for
the same period a year earlier.  The fiscal 2007 nine-month
operating margin was 10.6%.  Higher operating income was due to
the increased sales volume over the same period in the prior year.

Interest and other expense, net for the first nine months of
fiscal 2007 was $89.9 million, compared with $31.2 million for the
same period a year earlier.  The increase was due to higher
interest expense related to borrowings associated with financing
the ESSI acquisition.

The effective income tax rate for the first three quarters of
fiscal 2007 was 33%, compared with 39% for the same period last
year.

Net earnings for the first nine months of fiscal 2007 were a
record $81.6 million, up 55% from net earnings of $52.7 million
for the same nine-month period a year earlier.

Free cash flow for the fiscal 2007 nine-month period was
$23.5 million, compared with free cash flow of $33.1 million for
the same period last year.  The decrease in the nine-month period
was due to increases in accounts receivable, inventory and
interest obligations, partially offset by an increase in customer
advances.  Net cash provided by operating activities was
$61.7 million, and capital expenditures were $38.2 million.

                      About DRS Technologies

Headquartered in Parsippany, New Jersey, DRS Technologies, Inc.
(NYSE: DRS) -- http://www.drs.com/-- is a supplier of integrated
products, services and support to military forces, intelligence
agencies and prime contractors worldwide.  The company employs
10,000 people.

                           *     *     *

DRS Technologies' 7-5/8% Senior Subordinated Notes due 2018 carry
Moody's Investors Service's 'B3' rating, Fitch's 'B-' rating and
Standard & Poor's 'B' rating.


FAIRFAX FINANCIAL: Earns $159.1 Million in 2006 Fourth Quarter
--------------------------------------------------------------
Fairfax Financial Holdings reported $159.1 million in net earnings
for the fourth quarter of 2006 and $227.5 million for the 2006
year, including the effects of a $69.7 million pre-tax gain on the
secondary offering of OdysseyRe common stock during the fourth
quarter and a $412.6 million pre-tax and after-tax non-cash charge
related to the commutation in the third quarter of the Swiss Re
corporate insurance cover.

Fairfax's insurance and reinsurance operations generated favorable
underwriting results in 2006, notwithstanding the anticipated
continued broad softening in 2006 in commercial insurance and
reinsurance classes and lines of business other than certain
catastrophe-exposed commercial property markets.  The combined
ratios of Fairfax's insurance and reinsurance operations were
88.4% and 95.5% for the fourth quarter and 2006 year,
respectively, compared to 112.7% and 107.7% for the fourth quarter
and 2005 year, respectively (prior to giving effect to the 2005
hurricane losses, the 2005 fourth quarter and fiscal year combined
ratios were 92.0% and 93.7%, respectively).  Fairfax's insurance
and reinsurance operations produced an aggregate underwriting
profit of $198.2 million in 2006, compared to an aggregate
underwriting loss of $333.9 million in 2005.

The improved underwriting results and significantly increased
investment income, combined with major initiatives including the
company's OdysseyRe secondary offering and the commutation of the
Swiss Re corporate insurance cover, allowed Fairfax to strengthen
its financial position during 2006.  Corporate liquidity remained
strong, and Fairfax ended 2006 with $767.4 million of cash, short-
term investments and marketable securities at the holding company
level, increased from $559.0 million at the end of 2005. Holding
company debt decreased by $210.1 million during the year to
$1,399.7 million, and Fairfax's debt maturity profile remained
largely unchanged, with no significant debt maturities until 2012.

Prem Watsa, chairman and CEO, commented, "During 2006, our
operating insurance and reinsurance subsidiaries performed well
and generated significant underwriting profits, while in our
runoff units we continued to make solid progress in reducing
claims and containing costs.  Our investment performance was
gratifying given the conservative positioning of our investment
portfolio.  We successfully undertook several measures to
significantly strengthen our balance sheet and to bolster our
liquidity.  We enter 2007 with improved financial strength,
disciplined and underwriting-focused operating teams at our
insurance and reinsurance companies, effective and economical
management of our runoff units and very conservative investment
portfolios."

Other highlights for 2006 included:

     * Net premiums written during 2006 at the company's
       insurance and reinsurance operations increased modestly to
       $4.43 billion from $4.35 billion.

     * Cash flow from operations at Northbridge, Crum & Forster
       and OdysseyRe during 2006, even though impacted by the
       payment of 2005 hurricane claims, increased significantly
       to $1,024.0 million from $752.4 million in 2005.

     * Total interest and dividend income increased to
       $746.5 million in 2006 from $466.1 million in 2005, due
       primarily to higher short term interest rates and
       increased investment portfolios arising from positive cash
       flows from operations and the realization of investment
       gains.

     * Net realized gains on portfolio investments in 2006
       increased significantly to $765.6 million (after being
       reduced by $251.0 million of losses, including mark-to-
       market adjustments recorded as realized losses, related to
       derivative securities positions) from $385.7 million in
       2005 (after being reduced by $107.8 million of losses,
       including mark-to-market adjustments recorded as realized
       losses, related to derivative securities positions).

     * During the fourth quarter, the company sold 10.165 million
       common shares of OdysseyRe in a public secondary offering
       for net proceeds of $337.6 million and a gain on sale of
       $69.7 million, reducing the company's ownership of
       OdysseyRe to 59.6%.

     * During the third quarter, the company commuted the Swiss
       Re corporate insurance cover.  As a result of this
       transaction, reinsurance recoverables declined by $1
       billion, funds withheld payable to reinsurers declined by
       $587.4 million and the company recorded a $412.6 million
       non-cash charge (pre-tax and after-tax) in its European
       runoff unit.

     * The Runoff and Other segment had a 2006 pre-tax loss of
       $20.8 million excluding the financial impact of the
       aforementioned gain on the OdysseyRe common shares sold by
       U.S. Runoff companies to facilitate the company's public
       secondary offering (U.S. Runoff recorded a pre-tax gain on
       sale of $111.6 million, a portion of which was eliminated
       on consolidation, resulting in a $69.7 million pre-tax
       gain on a consolidated basis) and the $412.6 million pre-
       tax and after-tax charge recorded by European Runoff on
       the commutation of the Swiss Re corporate insurance cover.
       The 2006 pre-tax loss for Runoff and Other was
       $321.8 million.

     * During the fourth quarter of 2006, in recognition of
       progress made to date and the reduced level of resources
       required going forward, the company announced the closing
       of three U.S. runoff locations and reduced worldwide
       runoff staffing levels, incurring a pre-tax charge of
       $14.7 million.

     * Consolidated cash and investments increased to
       $16.8 billion at December 31, 2006 from $14.9 billion at
       the end of 2005 (net of $783.3 million and $700.3 million,
       respectively, of liabilities for economic hedges against a
       decline in the equity markets).

     * The pre-tax net unrealized gain on portfolio investments
       declined to $310.6 million at December 31, 2006 from
       $558.4 million at the end of 2005, after realizing $765.6
       million in net gains during 2006.

     * Total common shareholders' equity increased to $2.7
       billion ($150.16 per basic share) at December 31, 2006
       from $2.4 billion ($137.50 per basic share) at Dec. 31,
       2005, principally as a result of 2006 earnings.

     * Reinsurance recoverables decreased to $5.5 billion at
       December 31, 2006 from $7.7 billion at December 31, 2005,
       reflecting the $1 billion Swiss Re commutation,
       collections on paid claims related to 2005 hurricane ceded
       losses and continued collections and commutations by the
       runoff units.

     * At December 31, 2006, Crum & Forster's principal operating
       subsidiaries remained in a positive earned surplus
       position, with a combined estimated dividend capacity in
       2007 of $138.4 million.

Fairfax's 2006 Annual Report is scheduled to be posted on its Web
site -- http://www.fairfax.ca/-- after the close of markets on
March 9, 2007 and will be mailed shortly thereafter to
shareholders.

Fairfax held a conference call to discuss its year-end results on
Feb. 23, 2007.  A replay of the call will be available from
shortly after the termination of the call until 5:00 p.m. Eastern
time on March 9, 2007. The replay may be accessed at (888)
562-2937 (Canada and U.S.) or 1 (203) 369-3751 (International).

Based in Toronto, Ontario, Fairfax Financial Holdings
(TSX: FFH)(NYSE: FFH) -- http://www.fairfax.ca/-- is a financial
services holding company with subsidiaries engaged in property and
liability insurance and reinsurance in Canada, the United States,
and internationally.

                          *     *     *

As reported in the Troubled Company Reporter on Dec. 8, 2006,
Moody's Investors Service changed the rating outlook for Fairfax
Financial Holdings Ltd.'s Ba3 senior debt rating to stable from
negative.  Moody's said the change in outlook reflects the
improved liquidity position at the holding company and within
FFH's run-off operations.


FRASER PAPERS: Posts $114 Million Net Loss in Year Ended Dec. 31
----------------------------------------------------------------
Fraser Papers Inc. reported a net loss of $12 million on net sales
of $187 million for the fourth quarter ended Dec. 31, 2006,
compared with a net loss of $22 million on net sales of
$219 million in the fourth quarter of 2005.

The decrease was mainly attributable to the sale of the paperboard
operations in 2005, the sale of the New Brunswick Timberlands in
January, 2006, and the permanent closure of the Berlin pulp mill
in April, 2006.

"Despite fourth quarter results that were impacted by sawmill
closures and maintenance downtime at two of our pulp and paper
facilities, we were successful at improving our product mix by
selling higher margin packaging and printing papers which
displaced lower margin commodity products.  We are confident that
we will continue to build upon this progress during 2007 and we
remain very focused on capturing the upside that exists at our
paper operations from increased throughput and lower costs," said
Dominic Gammiero, CEO of Fraser Papers.

For the full year 2006, the company generated a net loss of
$114 million on net sales of $796 million, compared with a net
loss of $29 million on net sales of $918 million in 2005.  Results
for 2006 include charges of $161 million related to investment
write-offs and plant closures, partly offset by a gain of
$71 million on the sale of the company's timberland operations in
New Brunswick.  In 2005, the company recorded a $46 million gain
on the sale of its timberland operations in Maine and a
$41 million asset impairment charge.

The company continued to improve its mix of products with higher
shipments of specialty packaging and printing papers relative to
lower margin commodity freesheet grades.  During 2006, shipments
of specialty products improved 9% while shipments of commodity
grades fell 25%.

The achievement in total product mix generated $21 million of
additional sales margin during the year, representing the largest
contributing factor to the company's year-over-year margin
improvement program in 2006.  Full year margin improvement totaled
$31 million exceeding the target of $29 million for the year.
Unfortunately, these margin improvements served to only partly
offset significant cost pressures from energy, chemical costs and
the strengthened Canadian dollar.  For 2006, these cost pressures
negatively affected results by $41 million when compared to 2005.

At Dec. 31, 2006, the company's balance sheet showed $556 million
in total assets, $224 million in total liabilities, and
$332 million in total stockholders' equity.

                    Closure of Berlin Pulp Mill

In April 2006, Fraser Papers permanently shut its 227,000 tonne
per year hardwood kraft pulp mill in Berlin, New Hampshire.
Operating costs, which had averaged $540 per tonne of pulp in the
first quarter of 2006, were uncompetitive.  During the quarter,
Fraser Papers sold the assets relating to the Berlin mill
including the property, plant and remaining equipment for net
proceeds of $3 million.  No gain or loss was recorded on the sale.

              Sale of New Brunswick Timberland Assets

On Jan. 31, 2006, Fraser Papers sold its timberland assets in New
Brunswick to Acadian Timber Income Fund.  Net proceeds were
$125 million, including $94 million in cash and $31 million of
securities which are exchangeable for 3.6 million units of the
Fund, representing a 30% interest in the equity of the Fund, or a
22% interest in the Fund on a fully diluted basis.  The sale of
the NB Timberlands assets resulted in a gain of $71 million.

In conjunction with the sale, Fraser Papers entered into
agreements with Acadian whereby Fraser Papers retained the right
to purchase fibre, in amounts approximately equal to its
historical consumption, for a period of up to 20 years at
prevailing market prices.

                     Smart Papers Restructuring

Smart Papers LLC and its affiliates, a previous equity investment
of the company, filed for creditor protection under Chapter 11 of
the United States Bankruptcy Code, in the first quarter of 2006.
As a result, in the first quarter Fraser Papers recorded a charge
of $107 million, consisting of an impairment charge against its
investment in Smart Papers of $74 million, a provision of
$15 million against a receivable from Smart Papers related to the
lease of a boiler at one of its locations and estimated accruals
of $18 million related to financial guarantees.  In the fourth
quarter, an additional $4 million accrual was established due to
revisions to the initial estimates.

               Purchase and Repayment of Senior Notes

During the first six months of 2006, the company made market
purchases totaling $30 million of its 8.75% senior unsecured notes
for total cash consideration of $26 million.  During the second
quarter of 2006, the company repaid $52 million of notes held by
the public and cancelled $14 million of notes held by Fraser
Papers.

No further purchases were made in the fourth quarter and Fraser
Papers continues to hold $16 million of notes which have not been
cancelled but have been netted against long-term debt on the
consolidated balance sheet.

Following the sale of its New Brunswick Timberlands, Fraser Papers
has one reportable segment comprised of its integrated paper,
pulp, and sawmill operations.

                  Liquidity and Capital Resources

During the quarter, cash flow from operations after changes in
working capital was an outflow of $14 million as compared to
$13 million during the same quarter of 2005.  Operating cash flow
before changes in working capital in the fourth quarter improved
to $1 million compared to an outflow of $16 million in 2005,
primarily due to improved operating results.  During the fourth
quarter, Fraser Papers invested $15 million in working capital in
the form of receivables, primarily due to strong shipments of
lightweight opaque and specialty groundwood grades in December.

                   Net debt and Capital Resources

Long term debt of $68 million consists of senior, unsecured notes
which bear interest at 8.75% and are due in 2015.  The indenture
agreement governing the notes contains certain covenants, the more
significant of which include restrictions on the incurrence of
additional indebtedness, sale of assets and reinvestment of
proceeds, mergers, creation of liens, payment of dividends and
repurchase of the Company's shares.

During 2006, following the repurchases and repayments of the
notes, the company reduced its total long-term debt by
$82 million, resulting in a net debt to net debt plus equity ratio
of 14%.

During the fourth quarter, the company increased it maximum
borrowing capacity under its line of credit to $90 million on more
favorable terms.  The increased line of credit and current cash
balances provide liquidity for future growth initiatives,
including the acquisition of Katahdin Paper Company LLC.

                        Capital Investments

Year to date capital investments totaled $12 million,
significantly below the $49 million recorded in 2005 when Fraser
Papers invested $34 million to buy out a lease related to an
electrical cogeneration facility.  During the fourth quarter,
spending of $3 million was primarily focused on maintenance of the
business.

                        About Fraser Papers

Fraser Papers Inc. (TSE: FPS) -- http://www.fraserpapers.com/--  
is an integrated specialty paper company which produces a broad
range of specialty packaging and printing papers.  The company has
operations in New Brunswick, Maine, New Hampshire and Quebec.

                           *     *     *

As reported in the Troubled Company Reporter on Feb. 15, 2007,
Standard & Poor's Ratings Services lowered its ratings on Fraser
Papers Inc., including the long-term corporate credit rating, to
'CCC+ from 'B-'.  The outlook is negative.


FREMONT HOME: DBRS Puts Class B4 Certificates' Rating Under Review
------------------------------------------------------------------
Dominion Bond Rating Service placed Class B4 Under Review
with Negative Implications from Fremont Home Loan Trust 2005-D
Mortgage-Backed Certificates, Series 2005-D's $9,835,000 Mortgage-
Backed Certificates, Series 2005-D, Class B4, currently rated
BB (high).

The above rating was placed Under Review with Negative
Implications as a result of the increased 90+ day delinquency
pipeline relative to the available level of credit enhancement.
The mortgage loans consist of fixed-rate and adjustable-rate
first-lien and second-lien mortgage loans.

The mortgage loans in the Underlying Trusts were acquired or
originated by Fremont Investment & Loan.


FURNITURE BRANDS: Earns $55.1 Million in Year Ended December 31
---------------------------------------------------------------
Furniture Brands International Inc. reported net earnings of
$2.1 million on net sales of $586.5 million for the fourth quarter
ended Dec. 31, 2006, compared with net earnings of $17.1 million
on net sales of $593.5 million in the fourth quarter of 2005.

Net earnings for the year were $55.1 million as compared to
$61.4 million in 2005.  Net sales for the full year of 2006 were
$2.42 million, compared with $2.39 million for the full year of
2005, an increase of 1.3%.

W. G. (Mickey) Holliman, Chairman and Chief Executive Officer,
commented: "Business conditions in the fourth quarter were
difficult across all our companies.  As the quarter progressed,
retail conditions materially softened.  In an effort to continue
with our original plan of inventory reduction, we promoted
aggressively and took additional discounts on selected slower
moving products.  We also scheduled additional downtime in our
domestic facilities.  Both of these items had a significant impact
on our earnings for the quarter.

"For the full year, our net sales were up slightly but our pro
forma net earnings fell considerably short, primarily as a result
of such a difficult fourth quarter.  As we move into the new year,
we continue to drive change throughout the entire company.  Though
the process of change is difficult, we will gain the benefits of
our size, our brands, and our talented leadership team.  We will
continue to focus on optimizing our logistics and supply chain
processes, and other strategic initiatives to drive both growth
and margin expansion throughout the company."

                       About Furniture Brands

Based in St. Louis, Missouri, Furniture Brands International Inc.
(NYSE: FBN) -- http://www.furniturebrands.com/-- is one of
America's largest residential furniture companies.  The company
produces, sources and markets its products under six of the best-
known brand names in the industry -- Broyhill, Lane, Thomasville,
Henredon, Drexel Heritage and Maitland-Smith.

                           *     *     *

As reported in the Troubled Company Reporter on Feb. 22, 2007,
Moody's Investors Service downgrade the rating on Furniture Brands
International Inc.'s unsecured revolver to Ba1 from Baa3,
concluding a review for possible downgrade initiated in December
2006.  At the same time, Moody's assigned a Ba1 corporate family
rating and a Ba1 probability of default rating to Furniture
Brands.  The rating outlook is stable.


HAWAII MEDICAL: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Hawaii Medical Vitrification, Inc.
        2800 Woodlawn Drive, Suite 254
        Honolulu, HI 96822

Bankruptcy Case No.: 07-00154

Type of Business: The Debtor is a subsidiary of Asia Pacific
                   Environmental Technology, Inc.  The Debtor is
                   involved in the business of medical and
                   infectious waste disposal.  See
                   http://www.hmv-inc.com/

Chapter 11 Petition Date: February 16, 2007

Court: District of Hawaii (Honolulu)

Judge: Robert J. Faris

Debtor's Counsel: Chuck C. Choi, Esq.
                  Wagner Choi & Evers
                  745 Fort Street, Suite 1900
                  Honolulu, HI 96813
                  Tel: (808) 533-1877
                  Fax: (808) 566-6900

Estimated Assets: $100,000 to $1 Million

Estimated Debts:  $1 Million to $100 Million

Debtor's 20 Largest Unsecured Creditors:

   Entity                              Claim Amount
   ------                              ------------
Integrated Environmental Tech.             $602,324
1935 Butler Loop
Richland, WA 99352

ABC Corporation                            $324,547
94-085 Leonui Street
Waipahu, HI 96797

Watumull Properties Corp.                  $126,520
307 Lewers Street, 6th Floor
Honolulu, HI 96815

Premier Insurance                          $115,016

Koshiba Agena                               $90,000

Quest International                         $72,000

Internal Revenue Service                    $60,000

Island Power                                $56,818

Oliver, Lau, Lawhn, Ogawa & Nakamur         $55,319

Air Liquide                                 $38,259

Tom Ueno                                    $31,007

Heco c/o Taylor, Leong & Chee               $18,365

Young Brothers                              $15,844

Mutual Welding                              $14,039

Stericycles                                 $13,150

Royal Guard Security                        $11,141

Ed Dang Machine Works                       $10,433

Halverson Applegate                          $9,771

Sandra Wong                                  $6,333

Liu Construction                             $4,840


HOLLINGER INC: Considers Adding More Members to Sun-Times Board
---------------------------------------------------------------
Hollinger Inc. disclosed in a Schedule 13D filing with the United
States Securities and Exchange Commission that it is considering
proposing changes to the Board of Directors of Sun-Times Media
Group, Inc.

The company may nominate one or more members to the Sun-Times
Media Board and vote all of their shares of Class A Common Stock
and Class B Common Stock in favor of the nominee or nominees.  At
present, none of the current members of the Sun-Times Media Board
was nominated by Hollinger.

On an on-going basis, Hollinger expects to consider and evaluate
the alternatives available with respect to its investment in
Sun-Times Media to enhance and maximize value for all shareholders
and other stakeholders of Hollinger.  The company has in the past
engaged, and may from time-to-time in the future engage, in
discussions with the management and other representatives of Sun-
Times Media, as well as other Sun-Times Media shareholders,
regarding Sun-Times Media's business, operations, strategic plan,
and other matters.

                       Financial Statements

The company intends, in the near future, to finalize and file
financial statements for the financial years ended December 31,
2003, 2004, and 2005, and March 31, 2006.  The company also
intends, in the near future, to finalize and file interim
financial statements for the current fiscal year and other
continuous disclosure documents with a view to bringing its
disclosure filings current and compliant with applicable law. Once
these documents are filed, the company will apply to the Ontario
Securities Commission for the revocation of a management and
insider cease trade order.

                Supplemental Financial Information

As of February 16, 2007, Hollinger and its subsidiaries --
other than Sun-Times and its subsidiaries -- had approximately
US$29.9 million of cash or cash equivalents on hand, including
restricted cash.

At that date, Hollinger owned, directly or indirectly, 782,923
shares of Class A Common Stock and 14,990,000 shares of Class B
Common Stock of Sun-Times.  Based on the February 16, 2007,
closing price of the shares of Class A Common Stock of Sun-Times
on the NYSE of US$4.31, the market value of Hollinger's direct and
indirect holdings in Sun-Times was US$68.0 million.

All of Hollinger's direct and indirect interest in the shares of
Class A Common Stock of Sun-Times is being held in escrow in
support of future retractions of its Series II Preference Shares.
All of Hollinger's direct and indirect interest in the shares of
Class B Common Stock of Sun-Times is pledged as security in
connection with the senior notes and the second senior notes.

In addition to the cash or cash equivalents on hand, Hollinger has
previously deposited approximately C$8.8 million in trust with the
law firm of Aird & Berlis LLP, as trustee, in support of certain
obligations Hollinger may have indemnified to six former
independent directors and two current officers.  In addition,
C$762,000 has been deposited in escrow with the law firm of Davies
Ward Phillips & Vineberg LLP in support of the obligations of a
certain Hollinger subsidiary.

As of February 16, 2007, there was approximately US$64.6 million
aggregate collateral securing the US$78 million principal amount
of the Senior Notes and the US$15 million principal amount of the
Second Senior Notes outstanding.

Hollinger is current on all payments due under its outstanding
Senior Notes and Second Senior Notes.  However, it is non-
compliant under the Indentures governing the Notes with respect to
certain financial reporting obligations and other covenants
arising from the insolvency proceedings of the Ravelston Entities.
To date, neither the trustee under the Indentures nor the holders
of the Notes have taken any action as a result of those defaults.

On Jan. 22, 2007, Hollinger and its wholly owned subsidiary
Domgroup Ltd. served a motion in the insolvency proceedings
of The Ravelston Corporation Limited and its debtor-affiliates.
In the motion, Hollinger and Domgroup sought an order confirming
the secured obligations owed by Ravelston to the company and
Domgroup and declaring that the applicable security agreements are
valid, perfected and enforceable in accordance with their terms.
Sun-Times Media has advised that it intends to bring a motion to
stay the motion.  In the motion, Hollinger and Domgroup claim that
the secured obligations owing by Ravelston total more than
$25,000,000.

                      About Hollinger Inc.

Based in Toronto, Ontario, Hollinger Inc. (TSX: HLG.C)(TSX:
HLG.PR.B) -- http://www.hollingerinc.com/-- owns approximately
70.1% voting and 19.7% equity interest in Sun-Times Media Group
Inc. (formerly Hollinger International Inc.), a newspaper
publisher with assets, which include the Chicago Sun-Times and a
large number of community newspapers in the Chicago area.
Hollinger also owns a portfolio of commercial real estate in
Canada.

                        Litigation Risks

Hollinger Inc. faces various court cases and investigations:

   (1) a consolidated class action complaint filed in Chicago,
       Illinois;

   (2) a class action lawsuit that was filed in the Saskatchewan
       Court of Queen's Bench on Sept. 7, 2004;

   (3) a $425,000,000 fraud and damage suit filed in the State
       of Illinois by International;

   (4) a lawsuit seeking enforcement of a Nov. 15, 2003,
       restructuring proposal to uphold a Shareholders' Rights
       Plan, a declaration that corporate by-laws were invalid
       and to prevent the closing of a certain transaction;

   (5) a lawsuit filed by International seeking injunctive relief
       for the return of documents of which it claims ownership;

   (6) a $5,000,000 damage action commenced by a lessor of an
       aircraft lease, in which Hollinger was the guarantor;

   (7) an action commenced by the United States Securities and
       Exchange Commission on Nov. 15, 2004, seeking injunctive,
       monetary and other equitable relief; and

   (8) investigation by the enforcement division of the OSC.


HUSKY ENERGY: Earns $2.7 Billion in Year Ended December 31
----------------------------------------------------------
Husky Energy Inc. reported net earnings of $2.7 billion for the
year ended Dec. 31, 2006, compared with net earnings of $2 billion
in 2005.  Cash flow from operations improved by 19% to
$4.5 billion, compared with $3.8 billion in 2005.  Sales and
operating revenues, net of royalties, were $12.7 billion in 2006,
an increase of 24% compared with $10.2 billion in 2005.

"It has been an exciting year for Husky," said Mr. John C.S. Lau,
President & Chief Executive Officer, Husky Energy Inc.  "Our
initiatives to create shareholder value in growth and
diversification are delivering impressive results in annual net
earnings and cash flows.  Husky's vision, strong financial
discipline and successful project execution will continue to
provide a dynamic and enriched future for the company and its
shareholders."

Production in 2006 was 360,000 barrels of oil equivalent per day,
compared with 315,000 barrels of oil equivalent per day in 2005,
an increase of 14%.  Crude oil and natural gas liquids production
increased 23% to 248,000 barrels per day, compared with 202,000
barrels per day in 2005.  Natural gas production was relatively
the same at 672 million cubic feet per day, compared with 680
million cubic feet per day in 2005.

For the fourth quarter, Husky's net earnings, mainly impacted by
lower gas commodity prices, were $542 million in 2006, compared
with $669 million in the fourth quarter of 2005.  Sales and
operating revenues, net of royalties, were $3.1 billion in the
fourth quarter of 2006, compared with $3.2 billion in the fourth
quarter of 2005.

At Dec. 31, 2006, the company's balance sheet showed $17.9 billion
in total assets, $8.3 billion in total liabilities, and
$9.6 billion in total stockholders' equity.

The company entered into an agreement to dispose of certain non-
core properties in Western Canada for total proceeds of
$339 million, currently producing approximately 5,200 barrels of
oil equivalent per day.  This transaction is expected to close in
the first quarter of 2007.

The Tucker Oil Sands project, which was completed on-schedule and
under budget, achieved its first oil at the end of 2006.  Tucker
will ramp up production over the next two years to achieve peak
production of 30 mbbls/day of bitumen.

The Sunrise Oil Sands project front-end engineering design is
expected to be completed by the third quarter of 2007.  Husky
plans to drill 29 stratigraphic wells in 2007.  Husky continues to
evaluate alternatives for the downstream portion of the project
and collaboration continues with industry participants to address
regional infrastructure issues.

In 2006 Husky acquired additional leases in the Saleski area
increasing its acreage to 239,200 acres with discovered resource
of approximately 24 billion barrels of bitumen in place within the
Grosmont and Nisku carbonates.  Conceptual planning and bitumen
recovery process evaluation continue at Caribou Lake.  Husky has
selected 44 stratigraphic wells to drill during the 2007 winter
drilling season.  In December, Husky submitted an application to
the Alberta Energy and Utilities Board and Alberta Environment for
the first phase of the Caribou Lake project.

Canada's East Coast White Rose project continues to perform better
than expected.  During the fourth quarter, a sixth production well
was brought onstream, increasing reservoir production capacity to
125,000 barrels of oil per day.  A seventh production well, which
will further increase the production level of the reservoir will
be completed by mid 2007.  Husky's 2006 delineation program
contributed possible reserves of 138 million barrels of light
crude oil to White Rose, which had combined proved, probable and
possible reserves of 379 million barrels of light crude oil at the
end of 2006.

In the fourth quarter of 2006, Husky successfully acquired three
exploration blocks in the Jeanne d'Arc Basin.  Husky holds a 100%
working interest in Exploration Block 1099 and 50% working
interest in Exploration Blocks 1100 and 1101.

Internationally, expansion of Husky's offshore acreage position in
the South China Sea continued with the signing of three petroleum
contracts with the China National Offshore Oil Corporation.  The
three exploration blocks cover approximately 16,871 square
kilometres.

In the South China Sea, Husky made a significant hydrocarbon
discovery at Liwan 3-1-1 on Block 29/26.  This discovery contains
contingent resource of four to six trillion cubic feet of natural
gas, making it one of the largest discoveries offshore China.  A
major seismic program is planned for 2007 over Block 29/26 and the
adjacent Block 29/06.  A development program is currently
proceeding and a deep water rig has been secured for a three-year
term commencing in 2008.

In the Midstream segment, a turnaround is planned at the
Lloydminster Upgrader in the second quarter of 2007 to complete
debottleneck work which will increase throughput capacity of the
upgrader to 82,000 barrels per day.  Engineering for the potential
expansion of the upgrader to approximately 150,000 barrels per day
will be completed by the end of 2007.

In the Refined Products segment, Husky completed and commissioned
the Lloydminster ethanol plant in 2006.  Husky's facility is the
largest wheat based ethanol facility in Western Canada with annual
peak production of 130 million litres of ethanol and 134,000
tonnes of Distillers Dried Grain with Solubles, a high protein
feed supplement.  A second 130 million litre per year plant is
being constructed in Minnedosa, Manitoba.  The new facility, which
is scheduled to be completed in the third quarter of 2007, is
planned to be fully operational in the fourth quarter of 2007.

                         About Husky Energy

Headquartered in Calgary, Alberta, Husky Energy Inc. (TSE: HSE) --
http://www.huskyenergy.ca/-- is one of Canada's largest energy
and energy-related companies.  The company has almost $18 billion
in assets and employs approximately 4,000 employees.

                           *     *     *

Husky Energy Inc.'s junior subordinated debt carries Moody's
Investors Services Ba1 rating.  Moody's placed the rating on
April 25, 2001 with a stable outlook.


JACK SALTS: Case Summary & Seven Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Jack D. Salts
        aka Jack Salts Trucking
        7476 Street, Road 263
        Williamsport, IN 47993

Bankruptcy Case No.: 07-40065

Chapter 11 Petition Date: February 26, 2007

Court: Northern District of Indiana (Lafayette)

Debtor's Counsel: David A. Rosenthal, Esq.
                  410 Main Street
                  P.O. Box 349
                  Lafayette, IN 47902
                  Tel: (765) 423-5375
                  Fax: (765) 423-2597

Estimated Assets: $1 Million to $100 Million

Estimated Debts:  $1 Million to $100 Million

Debtor's Seven Largest Unsecured Creditors:

   Entity                              Claim Amount
   ------                              ------------
United Community Bank                      $650,000
P.O. Box 159                               Secured:
Oakwood, IL 61858                          $850,000

Fowler State Bank                          $300,000
P.O. Box 511                               Secured:
Fowler, IN 47944                           $100,000

Marathon Ashland Petroleum LLC              $16,000
P.O. Box 7401019
Cincinnati, OH 45274

Ford Motor Credit                            $2,000
                                           Secured:
                                            $13,000

                                            $10,000
                                           Secured:
                                            $20,000

Lanman Oil Company, Inc.                    $12,000

First Source Bank                            $9,000
                                           Secured:
                                            $40,000

Jonna Lee Salts                                  $1


KAHUKU HOSPITAL: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Kahuku Hospital
        56-117 Pualalea Street
        Kahuku, HI 96731

Bankruptcy Case No.: 07-00176

Type of Business: The Debtor is a non-profit organization that
                  operates a hospital and medical center at
                  Kahuku, Hawaii.  The hospital has been
                  financially struggling for the past years due to
                  the small population of its immediate community
                  where it is operating.

Chapter 11 Petition Date: February 23, 2007

Court: District of Hawaii (Honolulu)

Judge: Robert J. Faris

Debtor's Counsel: Don Jeffrey Gelber, Esq.
                  Gelber Gelber Ingersoll & Klevansky
                  745 Fort Street, Suite 1400
                  Honolulu, HI 96813
                  Tel: (808) 524-0155
                  Fax: (808) 531-6963

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
   ------                         ---------------    ------------
Hawaiian Electric Company, Inc.   Electricity            $343,088
P.O. Box 3978
Honolulu, HI 96812-3978

Queen's Medical Center            Lanudry Service        $172,529
1301 Punchbowl Street             Prior 2002
Honolulu, HI 96813

Clinical Laboratories of          Lab Services           $140,041
Hawaii LLP
P.O. Box 1300
Honolulu, HI 96807-1300

Continental Pacific LLC           Lease Rent and         $128,483
P.O. Box 1350                     Property Tax
Santa Rosa Beach, FL 32459        Payments

Mark Robinson, M.D.               Anesthesia Services    $104,258
P.O. Box 205
Kahuku, HI 96731

Diagnostic Laboratory             Lab Services            $67,166
Services, Inc.

DVI Financial Services, Inc.      CAT Scan Equipment      $59,004

American Healthnet/Nelson Data    Withheld Software       $54,625
                                  Services

Olympus America Inc.              Equipment Leasing       $41,449
Financial Services                Charge

HILL-ROM                          Accessories and         $32,725
                                  Supplies

Cardinal Health                   Lab & Medical           $24,809
                                  Supplies

Pan Pacific Pathologists, Inc.                            $21,026

KCI USA - The Clinical Advantage                          $20,590

United Laundry Services, Inc.     Laundry Services        $11,555

Radiology Associates, Inc.        X-Ray Services          $11,227

Koolauloa Health and              Staffing Costs           $6,360
Wellness Center                   Reimbursement

GE Healthcare                     X-Ray Machine            $5,869
                                  Repairs

Kapiolani Medical Center                                   $5,487

Board of Water Supply             Water Utility            $4,775

State Director of Finance         Collection Kits          $4,700


LAND O'LAKES: Appoints Myron Voth & James Netto as Directors
------------------------------------------------------------
Land O'Lakes Inc. elected Myron Voth of Walton, Kansas, and James
Netto of Hanford, California, to its Board of Directors.

Mr. Voth was elected to represent Ag Region 3. Mr. Voth.  He is
also the Chair of Mid-Kansas Cooperative.  Mr. Voth, whose term
runs until February 2011, replaced former Director Richard Epard.

Mr. Netto was elected to represent Dairy Region 80.  Mr. Netto is
the President of Netto Ag Inc.  He also oversees the operations of
Double "N" Dairy, a subsidiary of Netto Ag.  Mr. Netto, whose term
runs until February 2011, replaced former Director Manuel Maciel.

Land O'Lakes Inc. -- http://www.landolakesinc.com/-- is a
national farmer-owned food and agricultural cooperative, marketing
dairy-based consumer, foodservice and food ingredient products.
Land O'Lakes does business in all 50 states, as well as more than
50 countries.

                           *     *     *

Moody's Investors Service assigned a Ba2 Senior Secured Debt
rating to Land O'Lakes Inc. on Sept. 21, 2006.  Moody's also
placed a Ba3 Rating to Land O'Lakes' Senior Unsecured Debt on
Sept. 21, 2006.


MARK FORE: Voluntary Chapter 11 Case Summary
--------------------------------------------
Debtor: Mark, Fore & Strike Holdings, Inc.
        1918 Corporate Drive
        Boynton Beach, FL 33426

Bankruptcy Case No.: 07-11164

Type of Business: The debtor sells quality sportswear, unique
                  fashion accessories, and specialty gifts.
                  See http://www.markforeandstrike.com/

Chapter 11 Petition Date: February 25, 2007

Court: Southern District of Florida (West Palm Beach)

Judge: Steven H. Friedman

Debtor's Counsel: Stephen R. Leslie, Esq.
                  Stichter, Riedel, Blain & Prosser, P.A.
                  110 East Madison Street, Suite 200
                  Tampa, FL 33602
                  Tel: (813) 229-0144
                  Fax: (813) 229-1811

Debtor's financial condition as of January 31, 2007:

      Total Assets: $1,670,625

      Total Debts:  $3,056,594

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


MASTR ASSET: DBRS Puts Class Certificates' Rating Under Review
--------------------------------------------------------------
Dominion Bond Rating Service placed Class M-11 Under Review with
Negative Implications from MASTR Asset Backed Securities Trust
2005-WMC1 Mortgage Pass-Through Certificates, Series 2005-WMC1's
$11,375,000 Mortgage Pass Through Certificates, Series 2005-WMC1,
Class M-11, currently rated BB (high).

The class was placed Under Review with Negative Implications as a
result of the increased 90+ day delinquency pipeline relative to
the available level of credit enhancement.

Overcollateralization is lower than target because of insufficient
excess spread.  The mortgage loans consist of fixed-rate and
adjustable-rate first-lien and second-lien mortgage loans.  The
mortgage loans in the Underlying Trusts were originated by WMC
Mortgage Corp.


METHANEX CORP: Earns $482.9 Million in Year Ended December 31
-------------------------------------------------------------
Methanex Corp. reported net income of $482.9 million for the year
ended Dec. 31, 2006, compared with a net income of $165.8 million
during the same period in 2005.

For the fourth quarter of 2006, the company recorded a net income
of $172.4 million.  This compares with a net income of
$113.2 million for the third quarter of 2006.

Bruce Aitken, President and CEO of Methanex, commented, "We are
very pleased to have produced record earnings and cash flows for
our shareholders during the fourth quarter and fiscal 2006.
Extremely tight market conditions created primarily by outages at
competitor plants led to a very high methanol price environment in
the fourth quarter.  As a result, we achieved an average realized
price of $460 per tonne in Q4 2006, an increase of $155 per tonne
over our realization of $305 per tonne in Q3 2006."

Mr. Aitken added, "The high methanol price environment has
continued into the beginning of this year and we believe that an
extended period of high operating rates in 2007 is required to
balance supply and demand.  The Methanex European posted contract
price has been set for the first quarter of 2007 at 420 Euros per
tonne (US$545 per tonne at date of settlement), an increase of
20 Euros over the fourth quarter price.  Our non-discounted posted
contract prices for the United States and Asia for February are
US$549 per tonne and US$490 per tonne, respectively.  Overall, the
average posted price across the three regions is $528 per tonne in
February, compared to an average posted price of $558 per tonne in
Q4 2006."

"Our global market leadership position proved to be very effective
in 2006.  In a year where methanol shortages occurred, the
strength and flexibility of our global supply chain allowed us to
maintain supply commitments to our customers.  We operated our
flexible Waitara Valley plant in New Zealand which added much
needed supply to the market and generated incremental profits for
our shareholders.  As a result of the continuing tight market
conditions, we expect to secure additional gas to allow us to
operate this facility at least until the end of 2007."

Mr. Aitken concluded, "Our excellent cash generation in the fourth
quarter leaves us in a strong financial position.  With
$355 million cash on hand at the end of the year, a strong balance
sheet and a $250 million undrawn credit facility, we are well
positioned to meet our financial requirements related to our
potential methanol project in Egypt, pursue new opportunities to
enhance our leadership position in the methanol industry,
investigate opportunities related to new methanol demand for
energy applications and continue to deliver on our commitment to
return excess cash to shareholders."

                  Liquidity and Capital Resources

For the year ended Dec. 31, 2006, cash flows from operating
activities before changes in non-cash working capital were
$623 million compared with $330 million for the same period in
2005.  During the year ended Dec. 31, 2006, non-cash working
capital increased by $154 million.  The increase in non-cash
working capital is primarily a result of the impact of higher
methanol pricing on working capital balances as well as the impact
of higher ending inventory volumes.

For the year ended Dec. 31, 2006, the company repurchased a total
of 8.5 million common shares at an average price of US$21.91 per
share, totaling $187 million, inclusive of 4.7 million common
shares repurchased in 2006 under a normal course issuer bid that
expired May 16, 2006.

                        About Methanex Corp.

Methanex Corp. (Nasdaq: MEOH) -- http://www.methanex.com/-- is a
Vancouver based, publicly-traded company engaged in the worldwide
production and marketing of methanol.

                           *     *     *

As reported in the Troubled Company Reporter on Nov. 13, 2006,
Moody's Investors Service affirmed its Ba1 Corporate Family Rating
for Methanex Corp.


METTLER TOLEDO: Earns $52.02 Million in Fourth Quarter 2006
-----------------------------------------------------------
Mettler Toledo International Inc. reported results for its fourth
quarter and year ended Dec. 31, 2006.

For the three months ended Dec. 31, 2006, the company reported net
income of $52,020,000 compared to a $44,192,000 net income for the
three months ended Dec. 31, 2005.

Sales in the fourth quarter of 2006 were $462.3 million, compared
with $411.2 million in the prior year, an increase of 8% in local
currency sales.  Reported sales growth was 12%, which included a
4% favorable currency benefit.  By region, local currency sales
growth was 7% in Europe, 6% in the Americas and 14% in Asia/Rest
of World.  Adjusted operating income amounted to $79.5 million, a
16% increase over the prior year amount of $68.8 million.

Cash flow from operations was $51.9 million, compared with
$59.5 million in 2005.  The company repurchased $1.1 million
shares of its stock for $83.4 million during the quarter.

Sales for the year ended Dec. 31, 2006 were $1.6 billion, compared
with $1.5 billion in 2005.  This represented an 8% increase in
reported sales, consisting of 7% local currency sales growth and
1% favorable impact due to currency.  Adjusted operating income
was $234.2 million, a 13% increase over the 2005 amount of
$206.7 million.

Cash flow from operations was $191.6 million, compared with
$177.1 million in 2005.  The company repurchased 4.1 million
shares of its stock for $265.8 million in 2006.

"Disciplined execution of the company's strategic initiatives
drove strong operating performance in 2006," Robert F. Spoerry,
Chairman, President and Chief Executive Officer, stated.  The
company's sales and marketing programs combined with product
innovation will allow it to continue to gain market share.  The
company's product introductions are reinforcing its technology
leadership and provide tangible paybacks to customers.  The
company is achieving strong sales momentum in fast-growing
emerging markets as the company capitalizes on its extensive
product range and distribution.  And finally, a determined focus
on costs and efficient use of its invested capital are driving
improved returns."

"The strengths of the company's franchise are market leadership;
global presence; a diversified customer base and product
portfolio; technology leadership; and a culture of delivering the
highest quality products and services," Spoerry concluded.  These
elements continue to provide a solid foundation for the company's
future.  Mettler Yoledo remain cautious on the economy but
believe, with continued diligent execution of its strategic
initiatives, the company is well positioned for growth in 2007 and
beyond."

At Dec. 31, 2006, the company's balance sheet showed total assets
of $1.6 billion and total liabilities of $956 million with total
shareholders' equity of $631 million.

                       About Mettler Toledo

Based in Greifensee, Switzerland, Mettler Toledo International,
Inc. (NYSE: MTD) -- http://www.mt.com/-- manufactures and markets
precision instruments, such as weighing instruments, certain
analytical instruments, automated chemistry systems and
metal detection and other end-of-line inspection systems.

                           *     *     *

Mettler Toledo's 4.85% Senior Notes due 2010 carry Moody's
Investors Service's Baa3 rating and Standard & Poor's BBB rating.


MIRANT CORP: NY Units Want Confirmation Hearing Moved to March 21
-----------------------------------------------------------------
Mirant New York, Inc., Hudson Valley Gas Corporation and Mirant
Bowline, LLC, affiliates of Mirant Corp., asks the Honorable D.
Michael Lynn of the United States Bankruptcy Court for the
Northern District of Texas to issue an order:

    (a) approving a proposed form of notice of recommencement of
        confirmation in connection with their Chapter 11 cases;

    (b) setting a status conference and hearing on their
        Supplemental Joint Chapter 11 Plan;

    (c) establishing a deadline to file objections to the
        Supplemental Plan;

    (d) finding that the Supplemental Plan does not alter in any
        respect the treatment of the holders of unsecured claims
        against each Emerging New York Entity; therefore, all
        votes cast by the unsecured claimholders in respect of the
        confirmed Joint Plan of Reorganization filed by the New
        Mirant Entities will be deemed votes cast in respect of
        the Supplemental Plan; and

    (e) finding that the Supplemental Plan fully incorporates the
        tax dispute settlement between the Emerging New York
        Entities and the Town of Haverstraw, the Assessor of the
        Town of Haverstraw, the Rockland North Central School
        District and Rockland County, New York; therefore, New
        York Taxing Authorities with claims against the Emerging
        New York Entities are unimpaired under the Supplemental
        Plan.

Jeff P. Prostok, Esq., at Forshey & Prostok LLP, in Fort
Worth, Texas, relates that the proposed Recommencement Notice
establishes March 21, 2007, at 1:30 p.m. prevailing Central Time,
as the date on which the Confirmation Hearing will recommence,
and March 16, 2007, at 4:00 p.m., as the last day to object to
the Supplemental Plan.

The Emerging New York Entities will serve the Recommencement
Notice on all of their creditors.  The Recommencement Notice will
also be published in (i) The Wall Street Journal, and (ii) The
Journal News, no less than 25 days prior to the recommencement of
the Confirmation Hearing.

Mr. Prostok asserts that no further disclosure is required in
connection with the Supplemental Plan because the treatment of
holders of unsecured claims against the Emerging New York
Entities under the Supplemental Plan is identical to the
treatment the holders would have received under the confirmed
Mirant Plan.

Under these circumstances, Mr. Prostok continues, there is no
need for holders of unsecured claims to receive any disclosures
over and above what was received under the Original Disclosure
Statement.  The votes cast by the holders in respect of the
confirmed Mirant Plan should also be deemed votes cast in favor
of the Supplemental Plan, he adds.

Mr. Prostok reminds the Court that Section 1124 of the Bankruptcy
Code provides that a class of claims or interests is unimpaired
if the plan "leaves unaltered the legal, equitable, and
contractual rights to which such claim of interest entitles the
holder of such claim or interest."  Section 1126(f) further
provides that a class of claims that is unimpaired under a plan
is conclusively presumed to have accepted the plan.

Mr. Prostok points out that Class 1 - Taxing Jurisdiction
Settlement Claims is unimpaired since the Supplemental Plan
provides that the Class 1 Claims will "receive the treatment
specified in the New York Settlement."

The Class 1 Claimholders will receive all their legal, equitable
and contractual rights under the New York Settlement without
modification, and should conclusively be deemed to have accepted
the Supplemental Plan, Mr. Prostok asserts.

The Supplemental Plan is available at the Bankruptcy Services Inc.
at Third Avenue, 3rd Floor, New York, New York 10017.

For questions, if any, contact Jeff Prostok, Esq., Forshey &
Prostok LLP 777 Main Street, Suite 1290, Fort Worth, Texas 76102;
or Craig H. Averch, Esq., White Case LLP, 633 West Fifth Street,
Suite 1900, Los Angeles, California 90071

                         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. 113; Bankruptcy Creditors' Service
Inc., http://bankrupt.com/newsstand/or 215/945-7000).


MORGAN STANLEY: Fitch Holds Junk Rating on $8.6MM Class N Certs.
----------------------------------------------------------------
Fitch Ratings affirms Morgan Stanley Capital I Inc., commercial
mortgage pass-through certificates, series 1999-RM1:

   -- $288.3 million class A-2 at 'AAA';
   -- Interest-only class X at 'AAA';
   -- $43 million class B at 'AAA';
   -- $45.1 million class C at 'AAA';
   -- $12.9 million class D at 'AAA';
   -- $34.4 million class E at 'AAA';
   -- $17.2 million class F at 'AAA';
   -- $10.7 million class G at 'AAA';
   -- $23.6 million class H at 'A+';
   -- $8.6  million class J at 'A-';
   -- $12.9 million class K at 'BBB';
   -- $6.4  million class L at 'BBB-'; and
   -- $8.6  million class M at 'B+'.

The $8.6 million class N remains at 'CCC'.  Fitch does not rate
the $7.6 million class O certificates, and class A-1 has paid in
full.

The affirmations reflect the pool's stable performance since
Fitch's last rating action.  In total, 22 loans have defeased in
the pool.   As of the January 2007 distribution date, the
transaction's aggregate principal balance has decreased 38.6% to
$527.9 million from $859.7 million at issuance.

Currently, one asset is specially serviced and real-estate owned.
The asset is a 168,838 square foot retail center in Madison, North
Carolina , that is 73% occupied as of January 2007.  In October
2005 the asset lost a major tenant due to bankruptcy.  Fitch
expects any losses to be absorbed by the non-rated class.


MORTGAGE CAPITAL: Fitch Holds Junk Rating on $7.6MM Class K Certs.
------------------------------------------------------------------
Fitch affirms Mortgage Capital Funding, Inc.'s commercial mortgage
pass-through certificates, series 1998-MC2:

   -- $319.7 million class A-2 at 'AAA';
   -- Interest-only class X at 'AAA';
   -- $48 million class B at 'AAA';
   -- $58 million class C at 'AAA';
   -- $60.6 million class D at 'AAA';
   -- $37.9 million class E at 'AA';
   -- $12.6 million class F at 'A';
   -- $25.2 million class G at 'BBB-';
   -- $7.6 million class H at 'BB+';
   -- $15.1 million class J at 'B+'; and
   -- $7.6 million class K at 'CCC'.

Fitch does not rate the $2.5 million class L certificates.  The
class A-1 certificates have paid in full.

The affirmations are due to the stable performance of overall pool
and continued improved performance of the Minneapolis City Center
loan since the last Fitch ratings action.  As of the January 2007
distribution date, the pool has paid down 41.1% to $594.8 million
from $1.01 billion at issuance.

Fitch reviewed the credit assessment of the 375 Hudson Street
loan, which is secured by an 18-story, multi-tenant office
building in downtown Manhattan.  The rating of the loan is
dependent upon Saatchi & Saatchi being treated as a credit tenant.
The loan maintains an investment grade credit assessment.

The performance of the second largest loan, Minneapolis City
Center, has deteriorated since issuance, but results for the
trailing twelve months ending Sept. 30, 2006 indicated improving
performance.  The loan is secured by a mixed use property
consisting of 1.1 million square feet (sq. ft.) of office space,
370,000 sf of retail, 131,000 sq. ft. of storage space, the land
on which a 583-room Marriott Hotel is constructed, and a 687-space
parking garage. Servicer-reported net operating income for the TTM
ending Sept. 30, 2006 was up 40.3% versus TTM Sept. 30, 2005
results.  At the end of September 2006, the office and retail
portions of the property were 96% and 65% occupied, respectively.
This resulted in an overall occupancy of 87.7%, down slightly from
88% as of the prior year.  Fitch will continue to monitor this
loan closely for continued improvement.

There are currently no delinquent or specially serviced loans.


MORTGAGE LENDERS: Wants to Reject 17 Real Property Leases
---------------------------------------------------------
Mortgage Lenders Network USA Inc. asks the U.S. Bankruptcy Court
for the District of Delaware, pursuant to Section 365 of the
Bankruptcy Code, to:

   (1) reject 17 nonresidential real property leases, effective
       as of the Petition Date; and

   (2) abandon any personal property located at the leased
       premises as of the effective date of rejection.

A list of the Rejected Leases is available for free at:

               http://ResearchArchives.com/t/s?1a5f

Laura Davis Jones, Esq., at Pachulski Stang Ziehl Young Jones &
Weintraub LLP, in Wilmington, Delaware, says the Debtor has
determined that the 17 leases are unnecessary to the continued
operation of its business and its reorganization, have no
economic value to the estate, and should be rejected to avoid
incurring related administrative expenses.  The annual rent
payable by the Debtor on account of the Rejected Leases
aggregates to $6,000,000.

Ms. Jones explains that the rejection of the Rejected Leases at
this time will eliminate under-performing assets, save cash, and
allow management to focus their limited resources on the
operation of the Debtor's core business.

Ms. Jones relates that the rejection effective as of the Petition
Date is appropriate because the Debtor:

     * vacated the locations relating to the Rejected Leases and
       notified the affected landlords that it does not intend to
       further occupy the locations;

     * served notice of the present request on the landlords on
       the next business day following the Petition Date; and

     * will not withdraw any of the Rejected Leases from the
       request absent the consent of the affected landlord.

According to Ms. Jones, the Debtor also believes that any
personal property at the Rejected Leases' locations have
inconsequential value to the estate when considered in relation
to the anticipated expense of sale and any associated carrying
costs.

The Debtor does not waive any claims against a contract
counterparty arising under, or independently of, the Rejected
Leases by the filing of the request or the rejection of any of
the Leases.

The Debtor reserves the right to seek to reject other
nonresidential real property leases at a later date.

                    About Mortgage Lenders

Middletown, Conn.-based Mortgage Lenders Network USA Inc. --
http://www.mlnusa.com/-- is a privately held company offering
a full range of Alt-A/Non-Conforming and Conforming loan products
through its retail and wholesale channels.  The company filed for
chapter 11 protection on Feb. 5, 2007 (Bankr. D. Del. Case No.
07-10146).  Pachulski Stang Ziehl Young Jones & Weintraub LLP
represents the Debtor.  When the Debtor filed for protection from
its creditors, it listed estimated assets and debts of more than
$100 million.  The Debtor's exclusive period to file a chapter 11
plan expires on June 5, 2007.  (Mortgage Lenders Bankruptcy
News, Issue No. 2; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


MORTGAGE LENDERS: Three Parties Respond to Lease Rejection Plea
---------------------------------------------------------------
Facilitec, Inc., Alter Asset Management, L.L.C., and Woodfield
Lake Associates, LLC, gave their responses with respect to
Mortgage Lenders Network USA Inc.'s request to reject 17 real
property leases.

                           Responses

(A) Facilitec

Facilitec, Inc., has two rental agreements with Mortgage Lenders
Network USA, Inc., with respect to Haworth (OEM) Workstations for
personal property located at the Pinnacle Peak facility in
Phoenix, Arizona.  Both Agreements are dated September 29, 2006.

Facilitec does not object to the rejection and abandonment of the
Agreements but asks the Debtor to confirm that the Facilitec
Rental Agreements are being rejected and abandoned.

Russell C. Silberglied, Esq., at Richards, Layton & Finger P.A.,
in Wilmington, Delaware, tells the Court that cause does not
exist for the Debtor to seek retroactive rejection of leases
because Facilitec asked the Debtor to return its personal
property from the beginning of the case but the Debtor has not
done so and has prevented Facilitec from taking the property.

Mr. Silberglied tells the Court that Facilitec is entitled to
payment for administrative expenses until the equipment is
returned.

(B) Alter Asset

Alter Asset Management, L.L.C., as agent for NBS Pinnacle 2201,
L.L.C., NBS Pinnacle 1925/2001, L.L.C., NBS Brookside 700/800,
L.L.C., seeks the Court's authority to:

    -- reject leases for real property and abandon personal
       property located at 4400 Alexander Drive, in Alpharetta,
       Georgia, and 1925 West Pinnacle Peak Road, in Phoenix,
       Arizona; and

    -- reject a lease and contract for real property located at
       2201 and 2125 West Pinnacle Peak Road, in Phoenix,
       Arizona.

Amanda M. Winfree, Esq., at Ashby & Geddes, P.A., in Wilmington,
Delaware, says the Debtor has:

     * neglected to include on the list of leases and contracts
       it seeks to reject another closely related lease;

     * improperly described the lease and contract that it is
       seeking to reject for the property described in its
       request as the 2201 Lease/Contract; and

     * in conjunction with its rejection request, the Debtor
       should also be required to abandon all personal property
       at the related premises.

Ms. Winfree asserts that the Debtor must reject the 2201
Lease/Contract in its entirety along with the 1925 Lease since
they are intrinsically related to one single and indivisible
transaction.

Rejecting all the contracts in Georgia and Arizona is consistent
with the Debtor's stated purpose in the request of phasing out
operations at its retail origination offices and rejecting leases
that are unnecessary in its continued operations, Ms. Winfree
asserts.

(C) Woodfield

Woodfield Lake Associates, LLC, opposes the proposed order
annexed to the rejection request as it characterizes as "N/A" the
monthly rent payable under the Debtor's lease of property located
in Schamburg, Illinois.

Under the Lease, the required total payment by the Debtor for
fixed rent for 11 years aggregates to $10,543,282.

Gaston P. Loomis III, Esq., at Reed Smith LLP, in Wilmington,
Delaware, tells Judge Walsh that nothing in the Proposed Order to
clarify that it does not limit, impair, waive, or affect
Woodfield's claims for damages or its rights to file a proof of
claim in accordance with the Bankruptcy Code and the Federal
Rules of Bankruptcy Procedure.

Accordingly, Woodfield asks the Court to clarify that nothing in
any order entered on the Debtor's request limits, impairs,
waives, or affects Woodfield's claims for damages or its rights
to file a proof of claim.

                    About Mortgage Lenders

Middletown, Conn.-based Mortgage Lenders Network USA Inc. --
http://www.mlnusa.com/-- is a privately held company offering
a full range of Alt-A/Non-Conforming and Conforming loan products
through its retail and wholesale channels.  The company filed for
chapter 11 protection on Feb. 5, 2007 (Bankr. D. Del. Case No.
07-10146).  Pachulski Stang Ziehl Young Jones & Weintraub LLP
represents the Debtor.  When the Debtor filed for protection from
its creditors, it listed estimated assets and debts of more than
$100 million.  The Debtor's exclusive period to file a chapter 11
plan expires on June 5, 2007.  (Mortgage Lenders Bankruptcy
News, Issue No. 4; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


MOTHERS WORK: Earns $1.4 Million in 2007 First Fiscal Quarter
------------------------------------------------------------
Mothers Work, Inc. reported operating results for the first
quarter of fiscal 2007 ended Dec. 31, 2006.

Net income for the first quarter of fiscal 2007 was $1.4 million,
an improvement from the net income for the first quarter of fiscal
2006 of $0.4 million.  During December 2006, the company redeemed
$25 million principal amount of its outstanding 11-1/4% Senior
Notes, which resulted in an after-tax charge of $0.21 per share in
the first quarter of fiscal 2007.  Net income before the debt
repurchase charge for the first quarter of fiscal 2007 was
$2.7 million, an even more significant improvement from the net
income for the first quarter of fiscal 2006 of $0.4 million, which
did not include any debt repurchase charge.

Net sales for the first quarter of fiscal 2007 decreased 1.9% to
$148.5 million from $151.4 million in the same quarter of the
preceding year.  The decrease in net sales for the quarter was
driven by a decrease in comparable store sales.  Comparable store
sales decreased 2.1% during the first quarter of fiscal 2007
versus a comparable store sales increase of 3.1% during the first
quarter of fiscal 2006.  The comparable store sales decrease of
2.1% for the first quarter of fiscal 2007 was impacted by
1 percentage points due to having one less Saturday in this fiscal
year's October and first quarter compared to last year.

At Dec. 31, 2006, the company had $270.4 million in total assets,
total liabilities of $180.8 million and total stockholders' equity
of $89.6 million.

The company has strong financial liquidity.  During the twelve-
month period ended Dec. 31, 2006, the company has reduced its debt
balance by $35 million, while carrying a balance of cash and cash
equivalents of $16.1 million at Dec. 31, 2006.

As of Dec. 31, 2006, the company has $90 million remaining
outstanding principal amount of the original $125 million
principal amount of its Senior Notes and the company is exploring
ways to refinance the remaining Senior Notes with lower cost debt.
Also, as of Dec. 31, 2006, the company has no direct borrowings
under its credit facility, and the company has $51 million of
availability under its credit facility.

"Although the company may have modest credit line borrowings from
its $60 million credit facility at times during fiscal 2007,"
Rebecca Matthias, President and Chief Operating Officer of Mothers
Work, Inc., noted. "Reflecting seasonal and other timing
variations in cash flow and its use of cash to repurchase
$35 million principal amount of Senior Notes from August 2006
through December 2006, Mothers did not have any credit line
borrowings during the first quarter of fiscal 2007 and expect to
have no outstanding credit line borrowings at the end of fiscal
2007."

                        About Mothers Work

Based in Philadelphia and founded in 1982, Mothers Work Inc.
(Nasdaq: MWRK) -- http://www.motherswork.com/--
designs and retails maternity apparel.  As of Oct. 31, 2006, the
company operates 1,593 maternity locations, including 807 stores,
predominantly under the tradenames Motherhood Maternity(R), A Pea
in the Pod(R), Mimi Maternity(R), and Destination Maternity(TM),
and sells on the web through its DestinationMaternity.com and
brand-specific Web sites.  In addition, Mothers Work distributes
its Oh Baby! by Motherhood(TM) collection through a licensed
arrangement at Kohl's(R) stores throughout the United States and
on Kohls.com.

                           *     *     *

As reported in the Troubled Company Reporter on Dec. 19, 2006,
Standard & Poor's Ratings Services raised its ratings on
Mothers Work Inc., including the corporate credit rating, to 'B'
from 'B-'.  The outlook is positive.


MUSICLAND HOLDING: Confirmation Hearing Adjourned to March 29
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
adjourned the hearing on the confirmation of Musicland Holding
Corp. and its debtor-affiliates' Second Amended Joint Plan of
Liquidation to March 29, 2007.

The hearing started on Nov. 28, 2006 and was adjourned to Feb. 22,
2007.

The Court had approved the Debtor's Amended Disclosure Statement
on Oct. 13, 2006.

Headquartered in New York, New York, Musicland Holding Corp., is a
specialty retailer of music, movies and entertainment-related
products.  The Debtor and 14 of its affiliates filed for chapter
11 protection on Jan. 12, 2006 (Bankr. S.D.N.Y. Lead Case No.
06-10064).  James H.M. Sprayregen, Esq., at Kirkland & Ellis,
represents the Debtors in their restructuring efforts.   Mark T.
Power, Esq., at Hahn & Hessen LLP, represents the Official
Committee of Unsecured Creditors.  When the Debtors filed for
protection from their creditors, they estimated more than $100
million in assets and debts.  (Musicland Bankruptcy News, Issue
No. 28; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


NEW JERUSALEM: Case Summary & 13 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: New Jerusalem Human Services, Inc.
        dba New Jerusalem Christian Academy
        P.O. Box 953
        Lakeland, FL 33805

Bankruptcy Case No.: 07-00817

Type of Business: The Debtor operates a school.

Chapter 11 Petition Date: February 2, 2007

Court: Middle District of Florida (Tampa)

Judge: K. Rodney May

Debtor's Counsel: Malka Isaak, Esq.
                  Law Office of Malka Isaak
                  306 East Tyler Street, Suite 300
                  Tampa, FL 33602
                  Tel: (813) 229-2221 ext. 1213
                  Fax: (813) 225-2315

Total Assets: $39,775

Total Debts:  $2,022,565

Debtor's 13 Largest Unsecured Creditors:

   Entity                     Nature of Claim       Claim Amount
   ------                     ---------------       ------------
James C. Mize, Jr., Trustee   All personal            $1,550,000
P.O. Box 210156               property of Debtor
West Palm Beach, FL 33421     by virtue of a UCC
                              lien recorded with
                              the Secretary of State
                              on Aug. 25, 2003.

                              Value of security:
                              $24,775

Church Mortgage & Loan Corp.  Guarantee of              $280,000
620 North Wymore Road         mortgage for New
Suite 240                     Jerusalem Baptist
Maitland, FL 32751            Church of Lakeland.
                              Florida, Inc.

Internal Revenue Service      Delinquent employment      $85,483
Special Procedures Unit       taxes for 2005 & 2006
400 West Bay Street
Suite 35045, Stop 5740
Jacksonville, FL 322024437

Internal Revenue Service      Tax lien for               $43,172
                              delinquent employment
                              taxes for various tax
                              periods from 1999-2004

James and Margaret Dyson      105 5th Street West        $33,600
1340 Florence Avenue          Lakeland, FL 33805
Orlando, FL 32811             Vacant Lot

                              Lot 17, Block 12,
                              Washington Park,
                              according to the
                              Plat thereof,
                              recorded in Plat
                              Book 1, Page 99

                              Value of security:
                              $15,000

Sprint/Nextel                 Cell phones                $10,362

Great American Leasing        Judgment                    $7,206

Thyssenkrupp Elevator Corp.   Judgment                    $5,783

Chastain Skillman, Inc.       Lead base paint             $2,700
                              survey report

Polk County Tax Collector     105 5th Street West         $1,741
                              Lakeland, FL 33805
                              Vacant Lot

                              Lot 17, Block 12,
                              Washington Park,
                              according to the
                              Plat thereof,
                              recorded in Plat
                              Book 1, Page 99

                              Value of security:
                              $15,000
                              Senior lien:
                              $33,600

Wachovia Bank                 Credit card                $1,502

Polk County Tax Collector     105 5th Street West         $1,013
                              Lakeland, FL 33805
                              Vacant Lot

                              Lot 17, Block 12,
                              Washington Park,
                              according to the
                              Plat thereof,
                              recorded in Plat
                              Book 1, Page 99

                              Value of security:
                              $15,000
                              Senior lien:
                              $35,341

Wachovia Bank                 Credit card          Undetermined


NORD RESOURCES: Plantinum Fails to Pay $2 Million Termination Fee
-----------------------------------------------------------------
Nord Resources Corporation's chairman of the Board of Directors,
Ronald Hirsch, reported that Platinum Diversified Mining Inc.
failed to pay the $2 million termination fee in an all-cash
merger transaction with Plantinum Diversified.

In Nord Reources' Notice of Termination dated Feb. 15, 2007,
the company demanded payment of the termination fee before
the close of business on Tuesday, Feb. 20, 2007, and placed
Platinum Diversified on notice that it reserved all of
Nord Resources' rights to pursue Platinum Diversified for
damages.

As disclosed by Nord Resources, the delivery of the Notice of
Termination followed a request by Platinum Diversified to re-
negotiate the merger consideration.

Nord Resources is meeting with its legal counsel with the view to
determining what steps it should take to preserve its rights in
this matter.

Based in Tucson, Ariz., Nord Resources Corporation (Pink Sheets:
NRDS) -- http://www.nordresources.com/-- is an emerging copper
producer, which controls a 100% interest in the Johnson Camp SX-EW
copper project in Arizona.  Nord's near term objective is to
resume mining and leaching operations at the Johnson Camp mine,
which has been on care and maintenance status since August 2003.
Nord has decided to proceed with its mine plan bases on an updated
feasibility study that was completed in October 2005, subject to
raising sufficient financing.

                       Going Concern Doubt

In August 2006, Mayer Hoffman McCann PC expressed substantial
doubt about Nord's ability to continue as a going concern after it
audited the company's financial statements for the years ended
Dec. 31, 2005 and 2004.  The auditing firm pointed to the
company's significant operating losses.


NORTHGATE CONDOMINIUMS: Voluntary Chapter 11 Case Summary
---------------------------------------------------------
Debtor: Northgate Condominiums, LLC
        1048 Phililips Road
        P.O. Box 1506
        McComb, MS 39648

Bankruptcy Case No.: 07-00580

Chapter 11 Petition Date: February 23, 2007

Court: Southern District of Mississippi (Jackson)

Judge: Neil P. Olack

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.


NORTHWEST AIRLINES: Committee Objects to Equity Panel Appointment
-----------------------------------------------------------------
The Official Committee of Unsecured Creditors of Northwest
Airlines Corp. and its debtor-affiliates says that the appointment
of an equity committee in the Debtors' cases is unwarranted

The Official Creditors Committee points out there will not be a
distribution to equity under any confirmable plan of
reorganization in the case.  Considering the track record of other
recent major airline bankruptcies like US Airways I and II, United
Airlines, and ATA Airlines, this is not surprising, the Official
Creditors Committee says.

The Official Creditors Committee also notes that a disclosure
statement was recently approved in the Delta Air Lines bankruptcy
case, which, like the Debtors' proposed Plan of Reorganization,
provides that creditors will receive equity -- valued at less
than the full amount of the claims -- in exchange for their
claims, and that existing equity holders will not receive any
distribution.

The appointment of an official equity committee would only create
unnecessary and substantial costs for the estates and distract
the Debtors, the creditor constituents, and their professionals
from focusing on confirming the Reorganization Plan and emerging
from bankruptcy, Scott L. Hazan, Esq., at Otterbourg, Steindler,
Houston & Rosen, P.C., in New York, argues.

"There is nothing that an official equity committee can add to
this case that the Ad Hoc Committee itself is not capable of
contributing," according to Mr. Hazan.

Mr. Hazan explains that the Ad Hoc Committee is comprised of
institutions that collectively manage billions of dollars in
assets and has retained experienced bankruptcy counsel and
financial advisors.

"There is no reason to believe that the Ad Hoc Committee will not
continue to pursue any possible value (to the extent that they
reasonably believe that it actually exits) for a return on their
individual equity investments, and by extension, protect the
interests of all equity holders," Mr. Hazan tells Judge Gropper.

Douglas A. Fordyce, managing director at Lazard Freres & Co. LLC,
financial advisor to the Official Creditors Committee, relates
that the Ad Hoc Committee utilizes a JPMorgan analyst report
dated November 16, 2006, in support of its allegation that the
Debtors have an equity value of approximately $10,500,000,000.
The Ad Hoc Committee arrived at the valuation only by adjusting
the assumed jet fuel price utilized in the JPMorgan Report down
from $1.95 per gallon to the then current trading price of jet
fuel -- $1.70 per gallon, which corresponds to a crude oil price
of approximately $55 per barrel.

In estimating Northwest's profitability for 2007, Mr. Fordyce
says the JPMorgan Report assumed a jet fuel cost of $1.95 per
gallon or approximately $63 per barrel for crude oil, which
estimate is generally consistent with the fuel projections
contained in the Debtors' Business Plan of $1.92 per gallon.  The
JPMorgan report also forecasted the Debtors' 2007 EBITDAR to be
$2,332,000,000 -- which is very close to the Debtors' projected
2007 EBITDAR of $2,305,000,000.

The JPMorgan Report then applied a 6.5x - 7.0x multiple to
calculate an adjusted enterprise value, subtracted net adjusted
debt from that value and arrived at a total equity value of
$8,056,000,000 to $9,222,000,000.

However, Mr. Fordyce points out, the 6.5x - 7.0x multiple
utilized in the JPMorgan analysis was based on what JPMorgan
assumed to be the multiple implied by a Delta/US Airways merger
transaction.  As US Airways has withdrawn its offer for Delta,
the multiples used in the JPMorgan Report, whether appropriate
then or not, are no longer valid, and a lower multiple -- based
on the current trading levels of the Debtors' major airline peers
-- must be applied to arrive at a reasonable valuation, Mr.
Fordyce explains.

Mr. Fordyce also notes that the fuel price utilized by the Ad Hoc
Committee occurred during a "dip" in the fuel market.  Since that
time, crude oil has risen back to approximately $59 per barrel on
the spot market and $61 to 64 on the "forward fuel curve" -- the
market's expectation of the price of oil in the future and where
an airline could lock-in the costs.

Mr. Fordyce relates that the price of fuel in the airline
industry over the last several years has been closely correlated
with unit revenue per seat mile.  As fuel expense has become a
much larger component of total operating costs, airlines have
attempted to "pass through" the cost to passengers in the form of
higher ticket prices.  In addition, at higher fuel prices, routes
served with older, less fuel-efficient aircraft become less
profitable or even unprofitable and marginal routes -- even flown
with new aircraft -- can become unprofitable, leading to a
curtailing of service and a general reduction in capacity.  With
tighter capacity, unit revenue tends to rise as the supply and
demand of seats comes into greater balance.

The Ad Hoc Committee's "forecast" attempts to utilize a
significant decrease in the price of fuel without any
corresponding decrease in revenue, Mr. Fordyce tells the Court.

"That is bad forecasting," Mr. Fordyce says.

Any sustained reduction in the cost of jet fuel in the magnitude
projected by the Ad Hoc Committee, Mr. Fordyce explains, would
almost certainly cause a corresponding decrease in the Debtors'
revenues, as airlines passed through reduced costs to consumers
and additional aircraft were brought back into service, further
increasing capacity and reducing unit revenues.  Any prolonged
decrease in fuel would bring with it a decrease in unit revenues,
which must be considered in order to properly value the Debtors'
business.

Mr. Hazan also tells Judge Gropper that the Disclosure Statement
explaining the Debtors' Plan projects an equity valuation for the
Debtors of between $6,450,000,000 and $7,550,000,000 -- with a
midpoint of $7,000,000,000 -- with an estimated claims universe
of between $8,750,000,000 and $9,500,000,000.  Based on the
estimates, the Disclosure Statement projects a distribution to
creditors of between 66% and 83% on the principal of their
claims, before consideration of any accrued interest to unsecured
creditors.

The Ad Hoc Committee has not and will not be able to present any
credible evidence to suggest that either the valuation or claims
estimates contained in the Disclosure Statement are materially
inaccurate, Mr. Hazan contends.

"The Motion is nothing more than a transparent attempt by
speculators in the Debtors' equity to force the estates to pay
the costs of their fruitless pursuits," Mr. Hazan says.

                 About Northwest Airlines

Northwest Airlines Corp. (OTC: NWACQ) -- http://www.nwa.com/
-- is the world's fourth largest airline with hubs at Detroit,
Minneapolis/St. Paul, Memphis, Tokyo and Amsterdam, and
approximately 1,400 daily departures.  Northwest is a member of
SkyTeam, an airline alliance that offers customers one of the
world's most extensive global networks.  Northwest and its travel
partners serve more than 900 cities in excess of 160 countries on
six continents.  The Company and 12 affiliates filed for chapter
11 protection on Sept. 14, 2005 (Bankr. S.D.N.Y. Lead Case No.
05-17930).  Bruce R. Zirinsky, Esq., and Gregory M. Petrick, Esq.,
at Cadwalader, Wickersham & Taft LLP in New York, and Mark C.
Ellenberg, Esq., at Cadwalader, Wickersham & Taft LLP in
Washington represent the Debtors in their restructuring efforts.
The Official Committee of Unsecured Creditors has retained Akin
Gump Strauss Hauer & Feld LLP as its bankruptcy counsel in the
Debtors' chapter 11 cases.  When the Debtors filed for protection
from their creditors, they listed $14.4 billion in total assets
and $17.9 billion in total debts.  On Feb. 15, 2007, the Debtors
filed an Amended Plan & Disclosure Statement.  The hearing to
consider the adequacy of the Disclosure Statement has been
scheduled for March 26, 2007.  (Northwest Airlines Bankruptcy
News, Issue No. 57; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


NORTHWEST AIRLINES: Wants Court Approval on JP Morgan Equity Pact
-----------------------------------------------------------------
Northwest Airlines Corp. and its debtor-affiliates intend to offer
certain eligible unsecured creditors the right to subscribe for
new common stock to raise up to $637,500,000 in equity capital.

J.P. Morgan Securities Inc., has agreed to purchase any shares
not subscribed to by the eligible creditors, ensuring that the
Debtors will receive the full anticipated proceeds, Gregory M.
Petrick, Esq., at Cadwalader, Wickersham & Taft, LLP, in New
York, relates.

In addition, JPMorgan will purchase directly 4,166,667 shares of
new common stock for $112,500,000 in the aggregate.

Thus, the new capital to be raised through the Rights Offering --
including the backstop commitment -- and the JPMorgan direct
purchase total $750,000,000.

The Debtors believe that the transactions represent the
opportunity for a $750,000,000 new equity investment in the
Debtors in market conditions that are currently favorable on the
best terms available, and will promote the Debtors' successful
emergence from these Chapter 11 cases.

The Debtors' Amended Plan of Reorganization proposes that holders
of all other allowed unsecured claims against Northwest Airlines
Corp., Northwest Airlines Holdings Corp., NWA Inc., and Northwest
Airlines, Inc. -- the Consolidated Debtors -- will receive shares
of new common stock of NWA Corp. and the right to purchase
additional shares of new common stock of the reorganized Debtors
under the Rights Offering in satisfaction of their claims.

Mr. Petrick says the Debtors' business plan contemplated a
recapitalization of the Debtors through new equity investment.
The equity capital will be deployed for general corporate
purposes; and, in particular, to help finance the modernization
of the Debtors' fleet through the acquisition of new, fuel-
efficient aircraft, appropriately sized to provide efficient
service in various domestic and international markets.

Commencing in December 2006, the Debtors interviewed more than 30
financial institutions in connection with a potential rights
offering to be provided to the its creditors, presenting to
numerous potential equity investors with respect to an additional
private equity investment in the Debtors.

After careful review, the Debtors determined that the proposal
submitted by JPMorgan was the most favorable.  On February 12,
2007, the proposal was approved by the Board of Directors of NWA
Corp.

The Official Committee of Unsecured Creditors was closely
involved in the Debtors' processes to raise new equity, and fully
supports the transactions, Mr. Petrick tells the Court.

As an integral part of the parties' Equity Commitment Agreement
dated February 12, 2007, JPMorgan will enter into a syndication
agreement with certain investors who will purchase certain of the
shares being sold to JPMorgan under the ECA either from JPMorgan
or directly from NWA Corp.

The syndicate will not include any person or entity that is a
competitor of the Debtors.

Certain holders of allowed unsecured claims, as of the record
date fixed by the Court for the determination of eligibility to
vote on the Plan, will be offered the opportunity to purchase up
to their pro rata share of 23,611,111 shares of new common stock
of NWA Corp., subject to reduction, at $27 per share.

Furthermore, in the event that eligible unsecured creditors
receiving subscription rights decline to exercise those rights --
or fail to do so in a manner that complies with the Plan -- the
remaining rights will be allocated to those eligible unsecured
creditors wishing to subscribe for up to two times their original
subscription rights, pro rata, until all over subscription
requests have been filled, subject to the availability of
additional shares.

JPMorgan will purchase any unsubscribed shares on the closing of
the Rights Offering at $27 per share.

The Rights Offering including any backstop purchase, together
with JPMorgan's purchase of additional shares, will represent a
sale of 10.2% of the equity of the Reorganized Debtors.

The Debtors have agreed to enter into a registration rights
agreement, which will provide that all shares of new common stock
acquired pursuant to the ECA will constitute "registrable
securities," and will provide for the parties to complete
necessary requirements for the registration.

The Debtors reserve the right under the ECA to sell up to
$150,000,000 of new common stock of NWA Corp. to one or more
potential investors on a list that has been provided to JPMorgan.

In consideration for the Underwriting Commitment and to
compensate JPMorgan for undertaking the risk in entering into the
ECA; and, after substantial arm's-length negotiations among the
Debtors, JPMorgan and the Syndicate Members, the Debtors will
pay:

   (a) to JPMorgan, a fee of 2.75% of the potential investment,
       or $20,625,000;

   (b) two additional fees of 0.25% each of the anticipated
       proceeds may be due if the expiration of the subscription
       period is extended beyond May 15 or June 1, 2007;

   (c) the out-of-pocket expenses reasonably incurred by JPMorgan
       with respect to the Rights Offering; and

   (d) reasonable fees and expenses of specified counsel and
       other professionals retained by JPMorgan and the Syndicate
       Members.

The parties also agreed to certain indemnification provisions.

By this motion, the Debtors seek the U.S. Bankruptcy Court for the
Southern District of New York's authority to enter into and
perform under the ECA, including entry into the Registration
Rights Agreement.  The Debtors also seek permission to pay the
related fees and expenses.

The Debtors also ask the Court to approve the related Syndication
Agreement, and authorize them to file the Syndication Agreement
in redacted form to protect certain proprietary, sensitive or
otherwise confidential information.

A full-text copy of the Equity Commitment Agreement is available
at no charge at http://ResearchArchives.com/t/s?1a5d

A full-text copy of the redacted form of the Syndication
Agreement is available at no charge at:

           http://ResearchArchives.com/t/s?1a5e

                 About Northwest Airlines

Northwest Airlines Corp. (OTC: NWACQ) -- http://www.nwa.com/
-- is the world's fourth largest airline with hubs at Detroit,
Minneapolis/St. Paul, Memphis, Tokyo and Amsterdam, and
approximately 1,400 daily departures.  Northwest is a member of
SkyTeam, an airline alliance that offers customers one of the
world's most extensive global networks.  Northwest and its travel
partners serve more than 900 cities in excess of 160 countries on
six continents.  The Company and 12 affiliates filed for chapter
11 protection on Sept. 14, 2005 (Bankr. S.D.N.Y. Lead Case No.
05-17930).  Bruce R. Zirinsky, Esq., and Gregory M. Petrick, Esq.,
at Cadwalader, Wickersham & Taft LLP in New York, and Mark C.
Ellenberg, Esq., at Cadwalader, Wickersham & Taft LLP in
Washington represent the Debtors in their restructuring efforts.
The Official Committee of Unsecured Creditors has retained Akin
Gump Strauss Hauer & Feld LLP as its bankruptcy counsel in the
Debtors' chapter 11 cases.  When the Debtors filed for protection
from their creditors, they listed $14.4 billion in total assets
and $17.9 billion in total debts.  On Feb. 15, 2007, the Debtors
filed an Amended Plan & Disclosure Statement.  The hearing to
consider the adequacy of the Disclosure Statement has been
scheduled for March 26, 2007.  (Northwest Airlines Bankruptcy
News, Issue No. 57; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


OPTIME THERAPEUTICS: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Optime Therapeutics DE, Inc.
        fka Optime Therapeutics, Inc.
        P.O. Box 6279
        San Rafael, CA 94903
        Tel: (415) 472-4623

Bankruptcy Case No.: 07-10129

Type of Business: The Debtor is a research-based pharmaceutical
                  Company.

Chapter 11 Petition Date: February 6, 2007

Court: Northern District of California (Santa Rosa)

Judge: Alan Jaroslovsky

Debtor's Counsel: Craig Stuppi, Esq.
                  Law Offices of Stuppi and Stuppi
                  1630 North Main Street #332
                  Walnut Creek, CA 94596
                  Tel: (415) 786-4465

Estimated Assets: $1 Million to $100 Million

Estimated Debts:  $1 Million to $100 Million

Debtor's 20 Largest Unsecured Creditors:

   Entity                                           Claim Amount
   ------                                           ------------
   Townsend and Townsend and Crew                       $505,185
   Two Embarcadero Center, 8th Floor
   San Francisco, CA 94111

   William Mariot                                       $300,000
   42 Digital Drive, #6
   Novato, CA 94949

   Fenwick & West LLP                                    $63,498
   801 California Street
   Mountain View, CA 94041

   Advanced Research Associates                          $23,973

   Insect Control and Research                           $12,000

   Friedlander Cherwon Capper LLP                         $7,420

   Morris Nichols Arsht & Tunnel                          $2,895

   PG&E                                                   $1,928

   AT&T Wireless                                          $1,692

   ADP                                                    $1,512

   Dental Vision & Insurance Plan                           $787

   Alltel Communications Products                           $765

   Federal Express                                          $548

   PR Newswire                                              $491

   Petaluma Minute Man Press                                $398

   Pitney Bowes                                             $398

   Johnson & Steinbrook LLP                                 $350

   Morflex, Inc.                                            $307

   AllTech Associates                                       $304

   Sprint                                                   $267


OVERTURF & ASSOCIATES: Case Summary & 14 Largest Unsec. Creditors
-----------------------------------------------------------------
Debtor: Overturf & Associates, Inc.
        fdba Overturf & Associates, LLC
        fdba Overturf Acquisition Company, Inc.
        P.O. Box 206
        Norwalk, IA 50211

Bankruptcy Case No.: 07-00260

Type of Business: An involuntary chapter 7 case was filed against
                  the Debtor on Dec. 15, 2006 (Bankr. S.D. Iowa
                  Case No. 06-02867).

Chapter 11 Petition Date: February 2, 2007

Court: Southern District of Iowa (Des Moines)

Judge: Lee M. Jackwig

Debtor's Counsel: Donald F Neiman, Esq.
                  Jeffrey D Goetz, Esq.
                  Bradshaw, Fowler, Proctor & Fairgrave, P.C.
                  801 Grand Avenue, Suite 3700
                  Des Moines, IA 50309-8004
                  Tel: (515) 246-5877
                  Fax: (515) 246-5808

Total Assets: $457,224

Total Debts:  $2,338,366

Debtor's 14 Largest Unsecured Creditors:

   Entity                     Nature of Claim       Claim Amount
   ------                     ---------------       ------------
Western Forms                 Trade debt                $528,202
6200 Equitable Drive
Kansas City, MO 64120

Ambassador Steel              Trade debt                $474,825
75 Remittance Drive
Suite 1572
Chicago, IL 60675-1572

Williams Sales, Inc.          Trade debt                $320,864
202 Cobblers Road
Kankakee, IL 60901

Arbor Forest Products         Trade debt                $260,597
11128 "O" Street
Omaha, NE 68137

Nebraska Dept. of Revenue     Sales Taxes               $108,000

Iowa Dept of Revenue          Sales Taxes                $93,045
& Finance

Mar-Flex Systems, Inc.        Trade debt                 $56,442

Boman Kemp                    Trade debt                 $56,203

Bank of America               Bank loan                  $40,000

Certainteed Corp.             Trade debt                 $30,443

L & M Chemicals               Trade debt                 $15,548

Wisconsin Tubing, Inc.        Trade debt                 $12,277

Right Point                   Trade debt                  $6,411

Keson Industries              Trade debt                  $2,152


PCS EDVENTURES: Posts $1 Million Net Loss in Quarter Ended Dec. 31
------------------------------------------------------------------
PCS Edventures!.com Inc. reported a $1 million net loss on
$450,445 of total revenues for the third quarter ended
Dec. 31, 2006, compared with a $589,597 net loss on $284,638 of
total revenues for the same period ended Dec. 31, 2005.

Operating expenses increased to $1.2 million as compared to
$512,125 for the quarter ended Dec. 31, 2005.  Part of the
increase was due to the increase in the number of employees,
amortization of options, accrual for the contingent liability
related to the Note Purchase Agreement between PCS and
Barron Partners LP and the acquisition of LabMentors.

At Dec. 31, 2006, the company's balance sheet showed $1.3 million
in total assets and $1.5 million in total liabilities, resulting
in a $215,231 total stockholders' deficit.

The company's balance sheet at Dec. 31, 2006, also showed strained
liquidity with $489,633 in total current assets available to pay
$1.5 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?1a4b

                        Going Concern Doubt

As reported in the Troubled Company Reporter on July 7, 2006,
HJ & Associates LLC expressed substantial doubt about PCS
Edventures!.com Inc.'s ability to continue as a going concern
after auditing the company's financial statements for the fiscal
years ended March 31, 2006, and 2005.  The auditing firm pointed
to the company's recurring losses from operations and working
capital deficit.

                     About PCS Edventures!.com

Boise, Idaho based PCS Edventures!.com Inc.(OTC BB: PCSV.OB) --
http://www.edventures,com/-- provides science and engineering-
based educational software for elementary and high school
children.  The company's software offerings include its Academy of
Engineering Lab program, which helps students understand simple
machines, gear systems, and power transfer systems; Edventures!
Lab, which uses Lego materials for online engineering learning;
Academy of Robotics Lab, which teaches logic, engineering, and
problem-solving skills; and Edventures in Language Arts, which
offers literacy learning activities for children.


PREMIER ENTERTAINMENT: Court OKs 2nd Amended Disclosure Statement
-----------------------------------------------------------------
The United States Bankruptcy Court for the Southern District of
Mississippi approved the second amended disclosure statement
describing the Plan of Reorganization co-proposed by Premier
Entertainment Biloxi LLC dba Hard Rock Hotel & Casino Biloxi and
its wholly owned subsidiary, Premier Finance Biloxi Corp., Bill
Rochelle of Bloomberg News reports.

The Court determined that the Disclosure Statement contained
adequate information -- the right kind of the right amount for
creditors to make informed decisions when asked to vote on the
Plan.

The Debtors can now solicit acceptances of that Plan.

                        Treatment of Claims

The Plan provides for a 100% recovery to all holders of allowed
claims.

Holders of Class 1 Other Priority Claims, Class 2 Secured Tax
Claims, and Class 3 Other Secured Claims will receive the full
amount of their claims.

Peoples Bank of Biloxi, Miss. will receive the principal amount of
its secured claim on the effective date of the Plan plus accrued
interest at 7% rate of interest per annum.  The Debtors estimate
the Bank's claim to be $1,301,042.

The Debtors' secured bond claims are entitled to their ratable
proportion of:

   1) any principal amount of the bonds outstanding on the
      effective date plus accrued interest; and

   2) the amount, if any, of the disputed liquidated damages
      escrow to which bondholders as of the distribution record
      date are entitled.

Holders of General Unsecured Claims will receive cash in an amount
equal to 50% of their allowed claim on the effective date, and the
remaining 50% within 60 days thereafter, or as soon as practicable
after the allowed general unsecured claim becomes an allowed
general unsecured claim.

Class 9 Rank Note Claims will be reinstated under the terms of the
Plan while Class 10 Affiliate Claims will be paid out of available
cash from operations post-effective date.

All equity interests in the Debtors will be unaltered by terms of
Plan.

                           Plan Funding

An exit facility to be provided by BHR Holdings Inc., an affiliate
of the Debtors, will ensure the Debtors' ability to make payments
if the Plan is consummated before the Debtors can generate cash
flow from operations.

                        Cash Collateral Use

Prior to its bankruptcy filing, the Debtors had a secured
financing instrument in place in the form of the 10-3/4% First
Mortgage Notes due 2012, issued pursuant to an indenture dated as
of Jan. 23, 2004, as amended, for $160 million in the aggregate.
U.S. Bank National Association serves as the indenture trustee.

After the devastation caused by Hurricane Katrina, the Debtors
asserted substantial loss claims pursuant to their insurance
policies.  As a result of several insurance settlements,
approximately $160.8 million of insurance proceeds were collected
and deposited with U.S. Bank.  The Debtors made disbursement
requests to U.S. Bank for release of the insurance proceeds in
order to rebuild their resort.  The Debtors were not allowed to
use the insurance proceeds except for limited purposes.  The
Debtors' inability to gain complete access to the insurance
proceeds through negotiation or litigation left the Debtors with
the need for financial reorganization.

Accordingly, the Debtors obtained Court authority to use, until
April 13, 2007, the cash collateral securing repayment of their
obligations to the prepetition secured bondholders based on a
thirteen-week budget, a copy of which is available for free at:

               http://researcharchives.com/t/s?1a60

The Court will also convene a hearing on April 13 to further
consider the Debtors' use of the cash collateral.

                   About Premier Entertainment

Based in Biloxi, Miss., Premier Entertainment Biloxi LLC dba Hard
Rock Hotel & Casino Biloxi -- http://www.hardrockbiloxi.com/--  
owns and operates hotels.  The company filed for chapter 11
protection on Sept. 19, 2006 (Bankr. S.D. Ms. Case No. 06-50975).
Nicholas Van Wiser, Esq., and Robert Alan Byrd, Esq., at Byrd &
Wiser, represent the Debtors.  Corby Davin Boldissar, Esq., at
Locke Liddell & Sapp, LLP, represents the Official Committee of
Unsecured Creditors.  When the Debtor filed for protection from
its creditors, it listed $252,862,215 in assets and $226,069,921
in debts.


QUEST TRUST: S&P Lowers Rating on Class M-2 Certificates to BB+
---------------------------------------------------------------
Standard & Poor's Ratings Services lowered its rating on the class
M-2 certificates from Quest Trust 2002-X1 to 'BB+' from 'BBB+'.
The rating remains on CreditWatch with negative implications,
where it was placed on Jan. 19, 2007.  In addition, the 'AAA'
rating on the class M-1 certificates was affirmed.

The lowered rating and continued CreditWatch placement is the
result of realized losses that have continuously reduced
overcollateralization (O/C).  During the previous six remittance
periods, realized losses have outpaced excess spread by an average
of 3.68x.  The failure of excess spread to cover monthly losses
has resulted in an erosion of O/C.  As of the January 2007
distribution date, O/C was below its target balance by
approximately 40%.  Cumulative realized losses represent 6.67% of
the original pool balance, while severely delinquent loans
represent 17.18% of the current pool balance.

Standard & Poor's will continue to monitor the performance of this
transaction.  If realized losses continue to outpace excess
interest, and the level of O/C continues to decline,
Standard & Poor's  will take further negative rating actions.
Conversely, if realized losses no longer outpace monthly excess
interest, and O/C rebuilds toward its target balance,
Standard & Poor's  will affirm the rating and remove it from
CreditWatch.

The affirmation is based on credit support percentages that are
sufficient to maintain the current rating.  Credit support for
this transaction is provided through a combination of
subordination, excess spread, and O/C.  The pool initially
consisted of performing, reperforming, conventional, subprime,
fixed- and adjustable-rate mortgage loans.  The mortgage loans are
secured mostly by first liens on one-to four-family residential
properties.

                  Rating Lowered And Remaining
                    On Creditwatch Negative

                      Quest Trust 2002-X1

                               Rating
                               ------
                 Class   To               From
                 -----   --               ----
                 M-2     BB+/Watch Neg    BBB+/Watch Neg

                       Ratings Affirmed

                      Quest Trust 2002-X1

                Class                   Rating
                -----                   ------
                M-1                     AAA


RENNIE PETROLEUM: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Rennie Petroleum Corporation
        aka "Rennie's"
        1600 Belleville Street
        Richmond, VA 23230

Bankruptcy Case No.: 07-30239

Type of Business: The Debtor is in the retail gasoline business.

Chapter 11 Petition Date: January 23, 2007

Court: Eastern District of Virginia (Richmond)

Judge: Kevin R. Huennekens

Debtor's Counsel: David K. Spiro, Esq.
                  Cantor Arkema, P.C.
                  P.O. Box 561
                  Richmond, VA 23218-0561
                  Tel: (804) 644-1400
                  Fax: (804) 225-8706

Total Assets: $4,672,815

Total Debts:  $7,980,662

Debtor's 20 Largest Unsecured Creditors:

   Entity                     Nature of Claim       Claim Amount
   ------                     ---------------       ------------
Citgo Petroleum Corporation   Fuel                    $3,300,159
P.O. Box 3758
Tulsa, OK 74102-3758

GMAC Commercial Mortgage      2846 North Lee            $800,000
AMC of America                Highway, Lexington,
600 East Las Colinas          Va. 24450
Suite 500                     (Timber Ridge)
Irving, TX 75039              (Rockbridge County)
                              "Rennie's #612"
                              Value of security:
                              $700,000

Capmark                       2515 Grafton Street,      $750,000
P.O. Box 905111               Clifton Forge, Va.
Charlotte, NC 28290           (Alleghany County)
                              "Rennie's # 604"
                              Value of security:
                              $550,000

Textron Financial             Rt. 360 and               $562,652
2 Morrissey Blvd.             Brandermill Shell
Boston, MA 02125              lien on lease

Realty Income                                            $56,040

M.R. Williams, Inc.           C-Store sales              $55,382

Medusa Properties                                        $50,216

Virginia State Lottery        Online/Scratch             $46,088

F.W. Baird                    Service and parts          $24,333

Pepsi-Cola                                               $16,724

Platinum Plus for Business    Visa                       $12,869

Richmond Refrigeration, Inc.  Service                    $11,350

Baird Petroleum               Parts and service          $10,451

Holiday Signs                 Service                     $6,539

National Bankcard Services    Data processing             $4,500

MidAtlantic Coca Cola         C-Store                     $4,266
Bottlin

Lance                         C-Store                     $4,072

Royal Cup, Inc.               C-Store                     $4,034

American Express                                          $4,000

Frito-Lay, Inc.               C-Store                     $3,455


RONCO CORP: Posts $6.5 Million Net Loss in Quarter Ended Dec. 31
----------------------------------------------------------------
Ronco Corp. reported a $6.5 million net loss on $19.7 million of
net sales for the second quarter ended Dec. 31, 2006, compared
with a $1.6 million net loss on $29.6 million of net sales for the
same period ended Dec. 31, 2005.

The decline in net sales is primarily due to a decline in direct
response sales of the company's rotisserie ovens by $1.3 million,
in wholesale sales by $10.4 million, a decline of $1.7 million in
direct response sales of other products, and a decline of $600,000
in list sales and commissions on advertising.  These decreases
were partially offset by an increase in direct response sales of
cutlery products of $4.1 million.

The increase in net loss is due to a $5.8 million loss on
extinguishment of debt, absent in last year's quarter, the
$653,375 increase in interest expense and the $5.8 million
decrease in gross profit due to a decrease in direct response
sales and wholesale accounts.  In addition, the company did not
record any tax benefit in 2006 as compared to 2005 when the
company recognized $343,000 in tax benefit.

The company also recorded a $1 million registration penalty
expense in connection with the sale of its Series A stock.  The
company was required to have its Registration Statement effective
by October 2005 but was unable to complete the Registration
Statement.

The loss on extinguishment of debt is related to the Sanders
Morris Harris loan dated June 9, 2006, that was modified on
Oct. 18, 2006.

Net interest expense was $1.1 million compared to $431,182 in last
year's second quarter.  The interest expense is due to higher loan
balances, new loan balances, and the amortization of warrants on
the Laurus and Popeil promissory notes which was recorded as
interest for accretion of debt.

At Dec. 31, 2006, the company's balance sheet showed $33.8 million
in total assets, $29.5 million in total liabilities, and
$4.3 million in total stockholders' equity.

The company's balance sheet at Dec. 31, 2006, also showed strained
liquidity with $17.4 million in total current assets available to
pay $19.1 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?1a51

                    Going Concern Doubt

As reported in the Troubled Company Reporter on Oct. 19, 2006,
Mahoney Cohen & Company, CPA, P.C., expressed substantial about
Ronco Corp's ability to continue as a going concern after auditing
the company's financial statements for the fiscal years ended
June 30, 2006 and 2005.  The auditing firm pointed to the
company's net loss of approximately $44.42 million in fiscal 2006
and working capital deficiency of approximately $12.86 million at
June 30, 2006.

                      About Ronco Corp

Ronco Corporation (OTC BB: RNCP.OB) -- http://www.ronco.com/ --  
develops, markets and distributes branded consumer products for
the kitchen and home.  Its products are sold primarily through
direct response television marketing by broadcasting 30-minute
long advertisements commonly referred to as "infomercials."


SECURE SYSTEMS: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Secure Systems Group, Inc.
        45180 Business Court, #500
        Sterling, VA 20166-6702

Bankruptcy Case No.: 07-10206

Type of Business: The Debtor supplies secure computer systems,
                  custom engineering, and TEMPEST testing
                  services.  See http://www.ssgtempest.com/

Chapter 11 Petition Date: January 26, 2007

Court: Eastern District of Virginia (Alexandria)

Judge: Robert G. Mayer

Debtor's Counsel: Donald F. King, Esq.
                  Odin, Feldman & Pittleman
                  9302 Lee Highway, Suite 1100
                  Fairfax, VA 22031
                  Tel: (703)218-2100
                  Fax: (703) 218-2160

Estimated Assets: $1 Million to $100 Million

Estimated Debts:  $1 Million to $100 Million


Debtor's 20 Largest Unsecured Creditors:

   Entity                                           Claim Amount
   ------                                           ------------
   Callao Investments, LLC                            $1,442,852
   1430 Spring Hill Road, #100
   McLean, VA 22102

   Fastech, Inc.                                        $571,725
   11890 Old Baltimore Pike, Suite P&Q
   Beltsville, MD 20705

   George Kettle                                        $210,059
   1430 Spring Hill Road, #100
   McLean, VA 22102

   Bernstein Management Corp.                           $165,148

   TEQ/Shield Company                                   $138,389

   Metuchen Capacitors, Inc.                             $76,447

   OER                                                   $62,731

   Rick, George                                          $61,986

   Shuler Capital Corp.                                  $60,187

   Datawatch                                             $52,884

   Vielmette, Francine                                   $51,339

   Rapiscan Systems                                      $50,859

   Matthew Lee                                           $50,000

   Gavin, Daniel                                         $47,496

   Jones, David                                          $45,839

   Sonex, Inc.                                           $38,137

   Jacyl Technology, Inc.                                $36,157

   Holder, Brian                                         $35,493

   Beacon Accounting Group                               $33,635

   Donald Konz                                           $27,745


SEMCO ENERGY: Cap Rock Deal Cues S&P to Put on Developing Watch
---------------------------------------------------------------
Standard & Poor's Ratings Services placed its 'BB-' corporate
credit rating on SEMCO Energy Inc. on CreditWatch with developing
implications.

The rating action follows the report that SEMCO has agreed to be
acquired by Cap Rock Holding Co. for $867 million, including the
assumption of $515 million of debt outstanding.

"We will resolve the CreditWatch listing after gaining greater
clarity on CAP Rock's intentions for SEMCO both operationally and
financially," said Standard & Poor's credit analyst Ralph A.
DeCesare, CFA.

The current ratings on SEMCO reflect its highly leveraged
financial risk profile, offset somewhat by its strong business
risk profile.


SHREVEPORT DOCTORS: Section 341(a) Meeting Set for April 20
-----------------------------------------------------------
The U.S. Trustee for Region 6 will convene a meeting of Shreveport
Doctors Hospital 2003, Ltd.'s creditors on April 20, 2007, at
10:30 a.m.  The meeting will be held at Plano Centre, Texas.

This is the first meeting of creditors required under Section
341(a) of the 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
Debtors under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

Shreveport Doctors Hospital 2003, Ltd., filed for chapter 11
protection on Feb. 21, 2007, (Bankr. E.D. Tex. Case No. 07-40329).
Deborah D. Williamson, Esq., and Mark E. Andrews, Esq., at Cox
Smith Matthews, represent the Debtor.  When it filed for
protection from its creditors, the company listed estimated assets
and debts between $1 million to $100 million.  The Debtor's
exclusive period to file a chapter 11 plan expires on June 21,
2007.


SHREVEPORT DOCTORS: General Claims Bar Date Set for July 19
-----------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Texas set
July 19, 2007, as the deadline for all persons owed money by
Shreveport Doctors Hospital 2003, Ltd. on account of claims
arising prior to Feb. 21, 2007.

Government units have until August 20, 2007, to file proofs of
claim.

Copies of written proofs of claim must be sent or hand delivered
on or before the respective bar dates to:

         Jeanne Henderson
         Clerk of the Bankruptcy Court
         Suite 300B
         660 North Central Expressway
         Plano, TX 75074

Shreveport Doctors Hospital 2003, Ltd., filed for chapter 11
protection on Feb. 21, 2007, (Bankr. E.D. Tex. Case No.
07-40329).  Deborah D. Williamson, Esq., and Mark E. Andrews,
Esq., at Cox Smith Matthews, represent the Debtor.  When it filed
for protection from its creditors, the company listed estimated
assets and debts between $1 million to $100 million.  The Debtor's
exclusive period to file a chapter 11 plan expires on June 21,
2007.


STARTECH ENVIRONMENTAL: Marcum Kliegman Raises Going Concern Doubt
------------------------------------------------------------------
Marcum & Kliegman LLP, in New York City, expressed substantial
doubt about Startech Environmental Corp.'s ability to continue as
a going concern after auditing the company's consolidated
financial statements for the years ended Oct. 31, 2006, and 2005.
The auditing firm cited that the company has no significant
recurring revenues and has incurred significant losses since
inception.

Startech Environmental reported a $6.6 million net loss on
$948,794 of revenues for the year ended Oct. 31, 2006, compared
with a $3.7 million net loss on $290,087 of revenues for the year
ended Oct. 31, 2005.

The increase in revenues is attributable to three major elements.
The first is the company's amortization of distribution agreements
in the current year of approximately $264,000.  The second is the
continuing support of the Mihama project in Japan wherein the
company grossed over $532,000 in revenue, and the third is the
initiation of engineering specs for the China project which netted
$100,000.  In fiscal 2005, revenues were derived primarily from
the amortization of distributorships agreements established in
Australia, China and the Caribbean.

The $2.9 million increase in net loss is primarily due to the
$1.5 million increase in amortization of deferred debt discount,
the $136,175 increase in interest expense, the $888,044 terminated
offering costs, absent in fiscal 2005, the $173,301 expense
related to the change in value of warrants and conversion option,
compared to a $250,353 gain in fiscal 2005, and the $389,527
decrease in other income.  This was partially offset by the
$420,117 increase in gross profit, the $134,098 decrease in
operating expenses, and the $72,523 increase in interest income.

At Oct. 31, 2006, the company's balance sheet showed $5.2 million
in total assets, $3.7 million in total liabilities, and
$1.5 million in total stockholders' equity.

The company's balance sheet at Oct. 31, 2006, also showed strained
liquidity with $3 million in total current assets available to pay
$3.7 million in total current liabilities.

Full-text copies of the company's consolidated financial
statements for the year ended Oct. 31, 2006, are available for
free at http://researcharchives.com/t/s?1a52

                 About Startech Environmental

Headquartered in Wilton, Connecticut, StarTech Environmental Corp.
(OTC BB: STHK.OB) -- http://startech.net/--is an environment and
energy industry company engaged in the production and sale of its
innovative, proprietary plasma processing equipment known as the
Plasma Converter System(TM).  The Plasma Converter System safely
and economically destroys wastes, no matter how hazardous or
lethal, and turns most into useful and valuable products.


STATION CASINOS: Subsidiary Inks New $830 Million Credit Facility
-----------------------------------------------------------------
Station Casinos Inc. reported that its wholly-owned subsidiary
Green Valley Ranch Gaming LLC entered into a new $830 million
credit facility, which consists of a:

    * $550 million first lien term loan due February 2014;
    * $250 million second lien term loan due August 2014; and
    * $30 million revolver due February 2012.

The company said that the proceeds from the Green Valley
Facility were used to repay outstanding borrowings under the
joint venture's previous revolving facility and term loan and
to fund a distribution of $285 million to each of the joint
venture members.

Station Casinos Inc. -- http://www.stationcasinos.com/
-- provides gaming and entertainment to the residents of Las
Vegas, Nevada.  Station owns and operates Palace Station Hotel &
Casino, Boulder Station Hotel & Casino, Santa Fe Station Hotel &
Casino, Wildfire Casino, and Wild Wild West Gambling Hall & Hotel
in Las Vegas, Nevada, Texas Station Gambling Hall & Hotel and
Fiesta Rancho Casino Hotel in North Las Vegas, Nevada, and Sunset
Station  Hotel & Casino, Fiesta Henderson Casino Hotel, Magic Star
Casino and Gold Rush Casino in Henderson, Nevada.  Station also
owns a 50% interest in Green Valley Ranch Station Casino, Barley's
Casino & Brewing Company and The Greens in Henderson, Nevada and a
6.7% interest in the Palms Casino Resort in Las Vegas, Nevada.  In
addition, Station manages Thunder Valley Casino near Sacramento,
California, on behalf of the United Auburn Indian Community.

                        *     *     *

As reported in the Troubled Company Report on Dec. 6, 2007,
Moody's Investors Service placed the ratings of Stations Casinos
Inc.'s Ba2 corporate family rating, Ba2 probability of default
rating, Ba2 senior unsecured note rating, and Ba3 senior
subordinated note rating on review for possible downgrade after
the disclosure that it has a received an offer to be acquired by
a group of investors led by Frank J. Fertitta III, chairman and
chief executive officer of Station, Lorenzo J. Fertitta, vice
chairman and president of Station, and Colony Capital Acquisitions
LLC, an affiliate of Colony Capital LLC, to acquire all of the
outstanding shares of common stock of Station for $82 per share
in cash, or about $4.7 billion.


SUMMIT CBO: S&P Assigns Default Rating on Class B Notes
-------------------------------------------------------
Standard & Poor's Ratings Services raised its rating on the class
A notes issued by Summit CBO I Ltd., a high-yield arbitrage CBO
transaction managed by Summit Investment Partners, to 'B+' from
'B' and removed it from CreditWatch with positive implications,
where it was placed June 14, 2006.  Concurrently, the rating on
the class B notes was lowered to 'D' from 'CC'.

The upgrade reflects paydowns of the class A notes, which have
positively affected the credit enhancement available to support
these notes.  As of the Jan. 27, 2007, monthly report, the class A
notes had paid down an additional $10.29 million since the rating
was put on CreditWatch positive, totaling $121.76 million since
the last downgrades in June 2003.  As a result, the class A
adjusted overcollateralization ratio has improved to 157.06% from
110.40% since the last downgrade.  At the same time, the class A/B
overcollateralization ratio has continued to decline, to 47.50%
from 89.70%.  Consequently, the rating on the class B notes has
been lowered to 'D' from 'CC'.

Standard & Poor's has reviewed current cash flow runs generated
for Summit CBO I Ltd. to determine the level of future defaults
the rated notes can withstand under various stressed default
timing and interest rate scenarios while still paying all of the
interest and principal due on the notes.  After comparing the
results of these cash flow runs with the projected default
performance of the performing assets in the collateral pool,
Standard & Poor's determined that the prior rating assigned to the
class A notes was no longer consistent with the credit enhancement
available.

Standard & Poor's will continue to monitor the future performance
of the transaction to ensure that the ratings assigned to all of
the notes remain consistent with the credit enhancement available.

        Rating Raised And Removed From Creditwatch Positive

                         Summit CBO I Ltd.

                    Rating
                    ------
         Class    To       From            Current balance
         -----    --       ----            ---------------
         A        B+       B/Watch Pos        $16,042,000

                          Rating Lowered

                    Rating
                    ------
         Class    To       From            Current balance
         -----    --       ----            ---------------
         B        D        CC                 $37,000,000


SUNNY'S GREAT: Taps Keen Realty to Sell 13 Retail Leaseholds
------------------------------------------------------------
Sunny's Great Outdoors, Inc., has retained Keen Realty, LLC to
market and assist with the disposition of the company's 13 retail
leasehold interests located in Maryland, Delaware and Virginia.

The leaseholds will be sold upon receipt of acceptable offers and
are subject to approval from the U.S. Bankruptcy Court for the
District of Maryland.

"We are excited to offer these leases for sale," said Mike Matlat,
Keen Realty's Vice President.  "The stores range in size from
3,800 sq. ft. - 8,250 sq. ft., and are conveniently located
throughout the Mid-Atlantic region. Interested parties must act
immediately, as we expect there to be a tremendous amount of
interest in these leases," Mr. Matlat added.

                         About Keen

Keen Consultants -- http://www.keenconsultants.com/-- has had
extensive experience solving complex business issues and
evaluating and selling real estate, leases and businesses.  Keen
Realty, a leader in identifying strategic investors and partners
for businesses, has consulted with hundreds of clients nationwide,
and evaluated and disposed of more than 20,300 properties
consisting of approximately 2,058,000,000 sq. ft. across the
country.  Recent clients include: Eddie Bauer/Spiegel, The Penn
Traffic Company, Frank's Nursery and Crafts, Service Merchandise,
Tommy Hilfiger, Warnaco, Huffman Koos and Storehouse.

                       About Sunny's

Headquartered in Elkridge, Maryland, Sunny's Great Outdoors, Inc.,
aka Sunny's Surplus, is an outdoor sports related retail store
that sells outdoor clothing, work-wear, camping supplies, scout
uniforms and related products.  The Debtor filed for chapter 11
protection on Jan. 26, 2007 (Bankr. D. Md. Case No. 07-10822).
Joel I. Sher, Esq., at Shapiro Sher Guinot & Sandler, represents
the Debtor.  When the Debtor filed for protection from its
creditors, it listed estimated assets and debts between $1 million
and $100 million.


SUTTER CBO: S&P Puts Junk Rated Class B-2 Notes on Positive Watch
-----------------------------------------------------------------
Standard & Poor's Ratings Services placed its ratings on the class
A-3L, B-1L, B-1, and B-2 notes issued by Sutter CBO 2000-2 Ltd.,
an arbitrage CBO transaction originated in January 2001, on
CreditWatch with positive implications.

The CreditWatch placements reflect the positive effect of the
class A-1L paydown on the credit enhancement available to support
the notes since they were downgraded in March 2003.  Since the
last downgrades, the class A-1L notes have paid down
$79.15 million, causing the overcollateralization ratios to
increase to 148.55% from 125.99% for class A; to 116.84% from
106.93% for class B-1; and to 105.86% from 99.58% for class B-2.

Standard & Poor's will review the results of current cash flow
runs generated for Sutter CBO 2000-2 Ltd. to determine the level
of future defaults the rated tranches can withstand under various
stressed default timing and interest rate scenarios while still
paying all of the interest and principal due on the notes.  The
results of these cash flow runs will be compared with the
projected default performance of the performing assets in the
collateral pool to determine whether the ratings currently
assigned to the notes remain consistent with the amount of credit
enhancement available.

                  Ratings Placed On Creditwatch
                    With Positive Implications

                      Sutter CBO 2000-2 Ltd.

                              Rating
                              ------
          Class        To                From      Balance
          -----        --                ----      -------
          A-3L         AA+/Watch Pos     AA+       $2,000,000
          B-1L         BB/Watch Pos      BB       $16,000,000
          B-1          BB/Watch Pos      BB       $24,000,000
          B-2          CCC-/Watch Pos    CCC-     $19,000,000


TERRACES SUBDIVISION: Case Summary & 20 Largest Unsec. Creditors
----------------------------------------------------------------
Debtor: The Terraces Subdivision, LLC
        P.O. Box 230407
        Anchorage, AK 99523

Bankruptcy Case No.: 07-00048

Chapter 11 Petition Date: February 7, 2007

Court: District of Alaska (Anchorage)

Judge: Donald MacDonald IV

Debtor's Counsel: John C. Siemers, Esq.
                  Burr, Pease & Kurtz
                  810 North Street
                  Anchorage, AK 99501
                  Tel: (907) 276-6100

Estimated Assets: $1 Million to $100 Million

Estimated Debts:  $1 Million to $100 Million

Debtor's 20 Largest Unsecured Creditors:

   Entity                                           Claim Amount
   ------                                           ------------
   Ogard Leasing, Inc.                                   $61,694
   1801 Beaver Place
   Anchorage, AK 99501

   Anchorage Sand & Gravel Co. Inc.                      $26,503
   1040 O'Malley Road
   Anchorage, AK 99515

   Diggins Concrete                                      $21,000
   6150 A Street
   Anchorage, AK 99518

   Enstar                                                $20,748
   P.O. Box 190288
   Anchorage, AK  99519-0288

   Winkler Plumbing & Heating Inc.                       $16,873

   CIC Recycling                                         $15,520

   Northern Geotechnical Engineering Inc.                $15,312

   Electric Power Systems, Inc.                           $9,929

   Municipality of Anchorage AWWU                         $9,668

   Birchwood Monofill, Inc.                               $8,637

   A&G Enterprises, Ltd.                                  $8,391

   D&S Concrete, Inc.                                     $5,801

   Errico Electrical Engineering                          $5,000

   DJ's Alaska Rentals & sales, Inc.                      $4,754

   SAM Trucking, LLC                                      $3,729

   Uresco Construction Materials Inc.                     $3,675

   MOA                                                    $2,856

   Redi Electric, Inc.                                    $2,238

   Thomas, Head & Griesen, CPAs                           $2,041

   Cornerstone Credit Services, LLC                       $1,040


TRI-SOURCE TITLE: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Tri-Source Title Agency, Inc.
        425 Metro Place North, Suite 450
        Dublin, OH 43017

Bankruptcy Case No.: 07-50377

Type of Business: The Debtor provides real estate title and escrow
                  closing services.

Chapter 11 Petition Date: January 20, 2007

Court: Southern District of Ohio (Columbus)

Judge: C. Kathryn Preston

Debtor's Counsel: Robert E. Bardwell Jr., Esq.
                  995 South High Street
                  Columbus, OH 43206
                  Tel: (614) 445-6757
                  Fax: (614) 224-4870

Total Assets: $1,718,113

Total Debts:  $699,927

Debtor's 20 Largest Unsecured Creditors:

   Entity                     Nature of Claim       Claim Amount
   ------                     ---------------       ------------
Ikon Financial Services       Lease of copiers,         $209,480
P.O. Box 650073               printers faxes
Dallas, TX 75265-0073

Third Street Properties       Deficiency balance        $157,989
33 North 3rd Street           owed on lease of
Suite 500                     commercial real
Columbus, OH 43215            property located at
                              33 North 3rd Street,
                              Suite 600, Columbus,
                              Ohio 43215

Downtown Properties, Ltd.     Deficiency balance        $129,711
33 North 3rd Street           owed on lease of
Suite 500                     commercial real
Columbus, OH 43215            property located
                              815 Superior Avenue,
                              #1820, Cleveland,
                              Ohio 44114

National City Bank            Promissory note            $50,000

Reliable Closing Services     Trade debt                  $6,040

American Abstract             Trade debt                  $5,130

Team Closers, LLC             Trade debt                  $2,900

Stasis Services, Ltd.         Trade debt                  $2,728

Premium Funding Specialists   Trade debt $                $1,586

Ikon Office Solutions         Trade debt                  $1,200

Contract Closers, LLC         Trade debt                    $937

ShredIt                       Trade debt                    $736

Data Trace                    Trade debt                    $702

Title Research Consultants,   Trade debt                    $585

Easton Telecom Services       Trade debt                    $334

G.R. Widmer Mortgage Closing  Trade debt                    $319

Ticor Title of Florida-       Trade debt                    $255
Deland
M. & G. Title Search, Inc.    Trade debt                    $239

Donna S. Allen                Trade debt                    $206


LPC of Kentucky, Inc.         Trade debt                    $200


TRIPLE J&L: Voluntary Chapter 11 Case Summary
---------------------------------------------
Debtor: Triple J & L, Inc.
        P.O. Box 507
        Tallapoosa, GA 30176

Bankruptcy Case No.: 07-10267

Chapter 11 Petition Date: February 2, 2007

Court: Northern District of Georgia (Newnan)

Judge: W. Homer Drake

Debtor's Counsel: James R. McKay, Esq.
                  James R. McKay, Esq.
                  Fuller & McKay
                  P.O. Box 6063
                  Rome, GA 30162-6063
                  Tel: (706) 295-1300

Estimated Assets: Less than $10,000

Estimated Debts:  $1 Million to $100 Million

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


TXU CORP: Board of Directors Declares Dividend
----------------------------------------------
TXU Corp.'s board of directors declared a regular quarterly
dividend of 43.25 cents per share on the common stock of the
company.  The dividend will be paid on April 2, 2007, to
shareholders of record at the close of business on March 2, 2007.

                         About TXU Corp.

Headquartered in Dallas, Texas, TXU Corp. (NYSE: TXU) --
http://www.txucorp.com/-- is an energy company that manages a
portfolio of competitive and regulated energy businesses in North
America.  In TXU Corp.'s unregulated business, TXU Energy provides
electricity and related services to 2.5 million competitive
electricity customers in Texas, more customers than any other
retail electric provider in the state.  TXU Power has over 18,300
megawatts of generation in Texas, including 2,300 MW of nuclear
and 5,837 MW of lignite/coal-fired generation capacity.

TXU Corp.'s 6.55% Senior Notes due 2034 carry Moody's Investors
Service's Ba1 rating and Standard & Poor's BB+ rating.


US AIRWAYS: IAM Says Carrier is Using Bankruptcy as Shield
----------------------------------------------------------
The International Association of Machinists and Aerospace Workers
filed Monday, a federal lawsuit challenging US Airways' use of
bankruptcy court to avoid an arbitration case stemming from a
Machinists Union grievance.

US Airways last week filed a complaint in the U.S. Bankruptcy
Court for the Eastern District of Virginia to block a grievance
arbitration scheduled to begin yesterday, prompting the IAM's
suit.

"US Airways is attempting to use the bankruptcy court to shield
itself from its contractual obligations 17 months after exiting
bankruptcy," said IAM General Vice President Robert Roach, Jr.
"If companies can get bankruptcy court protection without filing
for bankruptcy, no business contract, labor or otherwise, is
enforceable.  Lessors, vendors, bondholders, stockholders and
other creditors are also at risk."

All IAM-US Airways collective bargaining agreements provide for
automatic wage adjustments upon a change in control of the
airline.  IAM Districts 141 and 142 each filed grievances to
enforce the change of control provisions in October 2005,
following the US Airways-America West merger.

"US Airways is obligated to resolve collective bargaining disputes
through the process set forth in our contracts and the Railway
Labor Act," said Mr. Roach.  "Companies can not hide in bankruptcy
court forever."

The arbitrator postponed the scheduled arbitration hearing as a
result of US Airways' refusal to attend.  The IAM's complaint,
filed in Federal District Court for the Eastern District of
Virginia, asks the court to order the arbitration to go forward.
The suit is available at http://www.goiam.org/transportation/

                           About IAM

The International Association of Machinists and Aerospace Workers
-- http://www.goiam.org/-- represents 15,000 US Airways Fleet
Service, Mechanic & Related and Maintenance Training Specialists
employees.  The Machinists Union is the largest airline union in
North America, representing more than 100,000 airline employees in
almost every classification, including Flight Attendant, Mechanic
& Related, Fleet Service, Customer Service and Reservation Agents.

                       About US Airways

Headquartered in Tempe, Arizona, US Airways Group Inc.'s --
http://www.usairways.com/-- primary business activity is the
ownership of the common stock of US Airways, Inc., Allegheny
Airlines, Inc., Piedmont Airlines, Inc., PSA Airlines, Inc.,
MidAtlantic Airways, Inc., US Airways Leasing and Sales, Inc.,
Material Services Company, Inc., and Airways Assurance Limited,
LLC.

Under a chapter 11 plan declared effective on March 31, 2003,
USAir emerged from bankruptcy with the Retirement Systems of
Alabama taking a 40% equity stake in the deleveraged carrier in
exchange for $240 million infusion of new capital.

US Airways and its subsidiaries filed another chapter 11 petition
on Sept. 12, 2004 (Bankr. E.D. Va. Case No. 04-13820).  Brian
P. Leitch, Esq., Daniel M. Lewis, Esq., and Michael J. Canning,
Esq., at Arnold & Porter LLP, and Lawrence E. Rifken, Esq., and
Douglas M. Foley, Esq., at McGuireWoods LLP, represent the Debtors
in their restructuring efforts.  In the Company's second
bankruptcy filing, it lists $8,805,972,000 in total assets and
$8,702,437,000 in total debts.

The Debtors' chapter 11 plan for its second bankruptcy filing
became effective on Sept. 27, 2005.  The Debtors completed their
merger with America West on the same date.

                            *     *     *

As reported in Troubled Company Reporter on Feb. 1, 2007, Standard
& Poor's Ratings Services affirmed its ratings on US Airways
Group. and its major operating subsidiaries America West Holdings
Corp., America West Airlines Inc., and US Airways Inc., including
the 'B-' corporate credit ratings.  The ratings were removed from
CreditWatch, where they were placed with developing implications
on Nov. 15, 2006.  The outlook is now positive.


VILLAGE MANOR: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Village Manor Health Care, Inc.
        16 Windsor Avenue
        Plainfield, CT 06374

Bankruptcy Case No.: 07-20151

Chapter 11 Petition Date: February 5, 2007

Court: District of Connecticut (Hartford)

Judge: Robert L. Krechevsky

Debtor's Counsel: Jon P. Newton, Esq.
                  Reid & Riege
                  One Financial Plaza
                  Hartford, CT 06103
                  Tel: (860) 278-1150

Estimated Assets: $1 Million to $100 Million

Estimated Debts:  $1 Million to $100 Million

Debtor's 20 Largest Unsecured Creditors:

   Entity                                           Claim Amount
   ------                                           ------------
   Neighborcare                                         $207,937
   Attn: Pres./Dana Dasconio
   P.O. Box 15326
   Newark, NJ 07192

   NEHCE Pension Fund                                   $186,563
   Attn: Chris Pane
   77 Huyshope Avenue
   Hartford, CT 06106

   CL&P                                                  $66,984
   Attn: Pres./Bankruptcy Sec
   P.O. Box 2957

   McKesson General Medical                              $53,617

   Village Manor 401k Plan Nationwide                    $51,777

   NEHC Welfare Fund                                     $40,307

   Gulf South Medical Supply                             $34,101

   Bonneville Pharmacy                                   $24,492

   PMA Insurance Group                                   $23,930

   Yankee Gas Services                                   $23,014

   Grandma's Cafeteria Express                           $17,695

   Dudas & Associates                                    $16,000

   KCI USA                                               $14,810

   CBIA Health Connections                               $12,833

   Gallup Water Service                                   $6,812

   American Ambulance Service, Inc.                       $4,998

   Medline Industries, Inc.                               $4,349

   AT&T Yellow Pages                                      $3,999

   Technical Gas Products, LLC                            $3,897

   Ecolab                                                 $3,254


WILBRAHAM CBO: S&P Puts B Rated Class A-2 Notes on Positive Watch
-----------------------------------------------------------------
Standard & Poor's Ratings Services placed its ratings on the class
A-1 and A-2 notes issued by Wilbraham CBO Ltd., a high-yield
arbitrage CBO transaction managed by Babson Capital Management
LLC, on CreditWatch with positive implications.

The CreditWatch placements reflect paydowns on the class A-1 note
balance, which have positively affected the credit enhancement
available to support the class A-1 and A-2 notes.

As of the Jan. 2, 2007, monthly report, the class A-1 notes had
paid down $86.7 million since the transaction was last downgraded
in September 2004.  Although the class A overcollateralization
ratio had only improved to 125.30% from 122.20% as of the
September 2004 downgrade, the class A-1 adjusted
overcollateralization ratio had improved to 169.06% from 138.65%.

Standard & Poor's will review the results of the current cash flow
runs generated for Wilbraham CBO I Ltd. to determine the level of
future defaults the rated classes can withstand under various
stressed default timing and interest rate scenarios while still
paying all of the interest and principal due on the notes.  The
results of these cash flow runs will be compared with the
projected default performance of the performing assets in the
collateral pool to determine whether the ratings currently
assigned to the notes remain consistent with the credit
enhancement available.

                 Ratings Placed On Creditwatch Positive

                          Wilbraham CBO Ltd.

                           Rating
                           ------
            Class    To                From    Current balance
            -----    --                ----    ---------------
            A-1      BBB+/Watch Pos    BBB+      $54,402,000
            A-2      B/Watch Pos       B         $19,000,000


* Large Companies with Insolvent Balance Sheets
-----------------------------------------------

                                Total
                                Shareholders  Total     Working
                                Equity        Assets    Capital
Company                 Ticker  ($MM)          ($MM)     ($MM)
-------                 ------  ------------  -------  --------
Accuray Inc             ARAY        (50)         144        3
AFC Enterprises         AFCE        (40)         157        4
Alaska Comm Sys         ALSK        (25)         562       13
AMR Corp.               AMR        (606)      29,145   (1,603)
Atherogenics Inc.       AGIX       (153)         132      146
Bare Essentials         BARE       (620)         139       42
Blount International    BLT        (107)         441      121
CableVision System      CVC      (5,400)       9,777     (400)
Centennial Comm         CYCL     (1,092)       1,422      112
Charter Comm            CHTR     (5,632)      15,198     (999)
Choice Hotels           CHH         (62)         303      (53)
Clorox Co.              CLX         (33)       3,624     (540)
Compass Minerals        CMP         (65)         706      165
Crown Holdings          CCK        (545)       6,358      106
Crown Media HL          CRWN       (449)         918      190
CV Therapeutics         CVTX        (46)         421      303
Dayton Superior         DSUP       (102)         321       82
Deluxe Corp             DLX         (66)       1,267     (462)
Domino's Pizza          DPZ        (565)         380      (11)
Echostar Comm           DISH       (365)       9,352    1,696
Embarq Corp             EQ         (468)       9,091     (241)
Emeritus Corp.          ESC        (115)         713      (34)
Empire Resorts          NYNY        (25)          61       (2)
Encysive Pharm          ENCY        (88)          69       33
Enzon Pharmaceutical    ENZN        (56)         404      150
Foamex Intl             FMXI       (404)         607       21
Gencorp Inc.            GY          (96)       1,021        4
Graftech International  GTI        (157)         875      253
HCA Inc                 HCA     (10,332)      23,611    2,502
I2 Technologies         ITWO        (25)         190       17
ICOS Corp               ICOS        (18)         285      112
IDEARC Inc              IAR      (8,846)       1,318       15
IMAX Corp               IMAX        (33)         243       84
Immersion Corp          IMMR        (22)          47       31
Immunomedics Inc        IMMU        (24)          45       15
Indevus Pharma          IDEV       (133)          91       51
Interstate Bakeries     IBCIQ      (293)       1,147     (423)
Investools Inc.         IEDU        (64)         120      (79)
J Crew Group Inc.       JCG         (55)         414      128
Koppers Holdings        KOP         (80)         649      162
Life Sciences           LSR         (25)         205       23
Ligand Pharm            LGND       (239)         232     (162)
Lodgenet Entertainment  LNET        (58)         263       20
McMoran Exploration     MMR         (18)         431      (27)
Mediacom Comm           MCCC        (93)         N.A.    (243)
Movie Gallery           MOVI       (221)       1,165     (816)
Navisite Inc.           NAVI         (4)         100       (9)
New River Pharma        NRPH        (65)         170      135
Nexstar Broadc          NXST        (78)         679       27
NPS Pharm Inc.          NPSP       (182)         237      150
Obagi Medical           OMPI        (51)          50       12
ON Semiconductor        ONNN       (205)       1,417      266
Qwest Communication     Q        (1,445)      21,239   (1,506)
Radnet Inc.             RDNT        (79)         131        2
Riviera Holdings        RIV         (29)         222       10
Rural Cellular          RCCC       (540)       1,410      164
Rural/Metro Corp.       RURL        (89)         305       51
Savvis Inc.             SVVS       (138)         467       25
Sealy Corp.             ZZ         (152)       1,002       57
St. John Knits Inc.     SJKI        (52)         213       80
Sun-Times Media         SVN        (322)         905     (383)
Syntroleum Corp.        SYNM        (14)          44       32
Town Sports Int.        CLUB        (25)         417      (55)
Unisys Corp.            UIS         (97)       4,064      264
US LEC Corp             CLEC       (287)         238        7
Weight Watchers         WTW         (68)       1,002      (82)
Western Union           WU         (315)       5,321      594
Worldspace Inc.         WRSP     (1,574)         604      140
WR Grace & Co.          GRA        (504)       3,620      920
Xerox Corp.             XRX      (1,283)      21,709    4,056
Xoma Ltd.               XOMA        (38)          56       16

                             *********

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, Rizande B. Delos
Santos, Cherry A. Soriano-Baaclo, Jason A. Nieva, Melvin C. Tabao,
Tara Marie A. Martin, 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.

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