TCR_Public/070505.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

               Saturday, May 5, 2007, Vol. 11, No. 106

                             Headlines

ALLIED HOLDINGS: Posts $4.1 Million Net Loss in February 2007
ASARCO LLC: Posts $19.38 Million Net Loss in March 2007
COLLINS & AIKMAN: Files March 2007 Monthly Operating Report
DELPHI CORP: Posts $63 Mil. Net Loss in Month Ended March 31, 2007
DURA AUTOMOTIVE: Files Monthly Operating Report for April 2007

FEDERAL-MOGUL: Earns $5.5 Million in Month Ended March 31, 2007
MERIDIAN AUTOMOTIVE: Posts $52 Million Net Loss in December 2006
MUSICLAND HOLDING: Posts $3.9 Million Net Loss in February 2007
MUSICLAND HOLDING: Posts $2 Million Net Loss in March 2007
SOLUTIA INC: Posts $3 Mil. Net Loss in Month Ended March 31, 2007

TOWER AUTO: Posts $12 Million Net Loss in March 2007

                             *********

ALLIED HOLDINGS: Posts $4.1 Million Net Loss in February 2007
-------------------------------------------------------------

                     Allied Holdings, Inc.
             Unaudited Consolidated Balance Sheet
                    As of February 28, 2007
                        (In Thousands)

                            Assets

Current Assets:
       Cash and cash equivalents                         $2,180
       Receivables, net of allowances                    44,804
       Related party receivables                         20,238
       Inventories                                        4,592
       Deferred income taxes                              1,714
       Prepayments and other current assets              21,413
                                                      ---------
          Total current assets                           94,941

Property and equipment, net                             123,282
Goodwill, net                                             3,545
Other noncurrent assets                                  24,766
Investment in related parties                            24,963
                                                      ---------
TOTAL ASSETS                                           $271,497
                                                      =========

Liabilities and Stockholders' Deficit

Current liabilities not subject to compromise:
        Borrowings under Canadian revolving
           credit facility                               $1,215
        DIP facility                                    170,056
        Accounts and notes payable                       21,420
        Accrued liabilities                              53,068
                                                      ---------
          Total current liabilities                     245,759

Long-term liabilities not subject to compromise
        Postretirement benefits                          14,213
        Deferred income taxes                             1,733
        Other long-term liabilities                      19,299
                                                      ---------
          Total long-term liabilities                    35,245

Liabilities subject to compromise                       198,945
Stockholders' deficit                                  (208,452)
                                                      ---------
       Total liabilities & stockholders' deficit       $271,497
                                                      =========

                     Allied Holdings, Inc.
        Unaudited Consolidated Statement of Operations
             For the Month Ended February 28, 2007
                        (In Thousands)

Revenues                                                $59,389

Operating Expenses
       Salaries, Wages & Fringe benefits                 32,579
       Operating supplies & expenses                     13,208
       Purchased transportation                           7,158
       Insurance & claims                                 2,724
       Operating tax & licenses                           2,138
       Depreciation & amortization                        2,526
       Rents                                                562
       Communications & utilities                           579
       Other operating expenses                             578
       Loss on disposal of operating assets, net             30
                                                      ---------
          Total Operating Expenses                       62,082
                                                      ---------
          Operating Income (Loss)                        (2,693)

Other Income (Expense)
       Interest expense                                  (1,773)
       Investment income                                      2
       Foreign exchange gains, net                          706
       Equity in earnings of subsidiaries                   598
                                                      ---------
                                                           (467)
                                                      ---------
Loss before reorganization items and income taxes        (3,160)
Reorganization items                                       (940)
                                                      ---------
Loss before income taxes                                 (4,100)
Income tax benefit                                            -
                                                      ---------
NET LOSS                                                ($4,100)
                                                      =========

The Debtors' cash disbursements totaled $5,046,916 during February
2007.

                    About Allied Holdings Inc.

Based in Decatur, Georgia, Allied Holdings Inc. (AMEX: AHI, other
OTC: AHIZQ.PK) -- http://www.alliedholdings.com/-- and its
affiliates provide short-haul services for original equipment
manufacturers and provide logistical services.  The company and 22
of its affiliates filed for chapter 11 protection on July 31, 2005
(Bankr. N.D. Ga. Case Nos. 05-12515 through 05-12537).  Jeffrey W.
Kelley, Esq., at Troutman Sanders, LLP, represents the Debtors in
their restructuring efforts.  Henry S. Miller at Miller Buckfire &
Co., LLC, serves as the Debtors' financial advisor.  Anthony J.
Smits, Esq., at Bingham McCutchen LLP, provides the Official
Committee of Unsecured Creditors with legal advice and Russell A.
Belinsky at Chanin Capital Partners, LLC, provides financial
advisory services to the Committee.  When the Debtors filed for
protection from their creditors, they estimated more than $100
million in assets and debts.  (Allied Holdings Bankruptcy News,
Issue No. 47; Bankruptcy Creditors' Service, Inc.
http://bankrupt.com/newsstand/ or 215/945-7000)

                            Plan Update

On March 2, 2007, the Debtors, Yucaipa and Teamsters filed a Co-
Sponsored Plan and Disclosure Statement explaining that plan.  On
April 2, 2007, they filed an Amended Plan and on April 6 filed a
Second Amended Plan.  The Court approved the adequacy of the
disclosure statement explaining the 2nd Amended Plan on April 6,
2007.  The Court is set to consider confirmation of the Co-
Sponsored Plan on Wednesday, May 9, 2007.


ASARCO LLC: Posts $19.38 Million Net Loss in March 2007
-------------------------------------------------------

                       ASARCO LLC, et al.
                          Balance Sheet
                      As of March 31, 2007

ASSETS
    Current Assets:
    Cash                                           $503,187,000
    Restricted Cash                                  28,377,000
    Accounts receivable, net                        127,684,000
    Inventory                                       247,438,000
    Prepaid expenses                                  5,541,000
    Deferred income tax assets                                0
    Other current assets                             21,209,000
                                                ---------------
Total Current Assets                                933,435,000

Net property, plant and equipment                   444,190,000
Other Assets
    Investments in subs                             100,474,000
    Advances to affiliates                              454,000
    Prepaid pension & retirement plan                79,958,000
    Non-current deferred tax asset                   40,951,000
    Other                                           112,088,000
                                                ---------------
Total assets                                     $1,711,551,000
                                                ===============

LIABILITIES
    Postpetition liabilities:
    Accounts payable                                $50,195,000
    Accrued liabilities                              81,791,000
    DIP financing                                             0
                                                ---------------
Total postpetition liabilities                      131,986,000

Prepetition liabilities:
Not subject to compromise - credit                      704,000
Not subject to compromise - other                    50,596,000
Advances from affiliates                             24,183,000
Subject to compromise                             1,498,001,000
                                                ---------------
Total prepetition liabilities                     1,573,485,000
                                                ---------------
Total liabilities                                $1,705,471,000
                                                ===============

OWNERS' EQUITY (DEFICIT)
Common stock                                        508,325,000
Additional paid-in capital                          104,578,000
Other comprehensive income                         (121,861,000)
Retained earnings: filing date                   (1,065,018,000)
                                                ---------------
Total prepetition owners' equity                   (573,976,000)
Retained earnings: post-filing date                 580,056,000
                                                ---------------
Total owners' equity (net worth)                      6,079,000

Total liabilities and owners' equity             $1,711,551,000
                                                ===============

                       ASARCO LLC, et al.
              Consolidated Statement of Operations
                   Month Ending March 31, 2007

Sales                                              $102,980,000
Cost of products and services                        71,850,000
                                                 --------------
Gross profit                                         31,130,000

Operating expenses:
Selling and general & admin expenses                  2,921,000
Depreciation & amortization                           3,019,000
Provision accretion expense of asset
retirement obligation                                  163,000
                                                 --------------
Operating income                                     25,026,000

Interest expense                                         58,000
Interest income                                      (2,418,000)
Reorganization expenses                              10,432,000
Other miscellaneous (income) expenses                (6,526,000)
                                                 --------------
Income (loss) before taxes                     [sic] 33,183,000
Income taxes                                          4,104,000
                                                 --------------
Net income (loss)                                   $19,375,000
                                                 ==============

                       ASARCO LLC, et al.
           Consolidated Cash Receipts & Disbursements
                    Month Ending March 31, 2007

Receipts                                           $127,400,000
Disbursements:
Inventory material                                   33,980,000
Operating disbursements                              65,285,000
Capital expenditures                                  9,370,000
                                                 --------------
Total disbursements                                 108,635,000

Operating cash flow                                  18,765,000
Reorganization disbursements                          6,451,000
                                                 --------------
Net cash flow                                        12,314,000
Net payments to secured Lenders                               0
                                                 --------------
Net change in cash                                   12,314,000
Beginning cash balance                              519,249,000
                                                 --------------
Ending cash balances                               $531,563,000
                                                 ==============

                         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).

The Debtors' exclusive period to file a plan expires on
Aug. 9, 2007.  (ASARCO Bankruptcy News, Issue No. 45; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000)


COLLINS & AIKMAN: Files March 2007 Monthly Operating Report
-----------------------------------------------------------

                   Collins & Aikman Corporation
                          Balance Sheet
                       As of March 31, 2007

                              ASSETS

Cash                                               $146,839,746
Accounts receivable-trade, net                      215,780,453
Other non-trade receivables                          11,066,255
Inventories, net                                     69,206,742
Tooling and molding, net-current                     25,900,754
Prepaids & other current assets                      48,391,616
Deferred tax assets-current                                   0
                                                ---------------
TOTAL CURRENT ASSETS                                517,185,567

Investments in subsidiaries                       2,479,293,518
Fixed assets, net                                   235,813,029
Goodwill, net                                        59,622,121
Deferred tax assets-long term                                 0
Tooling and molding, net-long term                    6,882,120
Other noncurrent assets                              28,216,654
Intercompany accounts - net                          22,923,292
Prepetition intercompany - net                      650,967,736
                                                ---------------
TOTAL ASSETS                                     $4,000,904,037
                                                ===============

                       LIABILITIES & EQUITY

Notes payable                                                $0
Short term borrowings                                         0
Advance on receivables                                        0
Current portion-long term debt                      110,981,044
Current portion-capital leases                                0
Accounts payable                                     42,174,570
Accrued interest payable                             61,635,623
Accrued & other liabilities                         175,959,182
Income taxes payable                                  3,472,004
                                                ---------------
Total current liabilities                           394,222,422

Liabilities subject to compromise                 2,385,655,398
Deferred income taxes                                30,472,400
                                                ---------------
Total liabilities                                 2,810,350,220

Total equity                                      1,190,553,817
                                                ---------------
TOTAL LIABILITIES & EQUITY                       $4,000,904,037
                                                ===============

                  Collins & Aikman Corporation
                        Income Statement
                  Month Ending March 31, 2007

Net outside sales                                  $152,205,661
I/C Net sales                                        14,740,785
                                                ---------------
Total sales                                         166,946,446

Cost of Sales                                       151,818,659
                                                ---------------
Gross profit                                         15,127,787

Selling, general & administrative expenses           25,007,710
                                                ---------------
Operating income                                     (9,879,923)

Interest expenses, net                                7,835,920
Intercompany interest, net                           (3,321,581)
Preferred stock accretion                                     0
Miscellaneous (income)/expense                        3,059,978
Corporate allocation adjustment                               0
Commission income                                      (176,070)
Commission expense                                            0
Royalty income                                         (336,973)
Royalty expense                                               0
Joint Venture (Income)/Expense                                0
Minority interest in cons net income                          0
Dividend income                                               0
Discount/Income for Carcorp.                                  0
Gain/(Loss) early extinguishments of debt                     0
Discount/Premium on hedges                                    0
(Gain)/Loss on hedges                                         0
(Gain)/Loss on swaps                                          0
NAAIS Intercompany sales profit                               0
Loss on sale of receivables                                   0
Restructuring provision                                       0
Asset Impairment                                    723,053,542
Foreign transactions - (Gain)/Loss                      268,581
Amort of discount on NPV of liabilities                       0
(Gain)/Loss on sale-leaseback transaction                     0
                                                ---------------
Income from continuing operations before taxes     (740,263,320)

Federal income tax                                            0
State income tax                                              0
Foreign income tax                                       23,476
                                                ---------------
Income from continuing operations                  (740,286,796)

Discontinued operations                                  93,727
Gain/Loss on sale of divisions                                0
Extraordinary items                                           0
Integration                                                   0
                                                ---------------
NET INCOME (LOSS)                                 ($740,380,523)
                                                ===============

                      About Collins & Aikman

Headquartered in Troy, Michigan, Collins & Aikman Corporation
-- http://www.collinsaikman.com/-- is a global leader in     
cockpit modules and automotive floor and acoustic systems and is
a leading supplier of instrument panels, automotive fabric,
plastic-based trim, and convertible top systems.  The Company
has a workforce of approximately 23,000 and a network of more
than 100 technical centers, sales offices and manufacturing
sites in 17 countries throughout the world.  

The company and its debtor-affiliates filed for chapter 11
protection on May 17, 2005 (Bankr. E.D. Mich. Case No. 05-55927).  
Richard M. Cieri, Esq., at Kirkland & Ellis LLP, represents C&A in
its restructuring.  Lazard Freres & Co., LLC, provides the Debtor
with investment banking services.  Michael S. Stammer, Esq., at
Akin Gump Strauss Hauer & Feld LLP, represents the Official
Committee of Unsecured Creditors Committee.  When the Debtors
filed for protection from their creditors, they listed
$3,196,700,000 in total assets and $2,856,600,000 in total
debts.  The Debtors' disclosure statement explaining their First
Amended Joint Chapter 11 Plan was approved on Jan. 25, 2007.  
(Collins & Aikman Bankruptcy News, Issue No. 60; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or  
215/945-7000)


DELPHI CORP: Posts $63 Mil. Net Loss in Month Ended March 31, 2007
------------------------------------------------------------------

                    Delphi Corporation, et al.
               Unaudited Consolidated Balance Sheet
                       As of March 31, 2007
                          (In Millions)

                              ASSETS

Current assets:
   Cash and cash equivalents                               $113
   Restricted cash                                          108
   Accounts receivable, net
      General Motors and affiliates                       1,649
      Other third parties                                   977
      Non-Debtor subsidiaries                               389
   Notes receivable from non-Debtor subsidiaries            352
   Inventories, net
      Productive material, work-in-process and supplies     826
      Finished goods                                        302
   Prepaid expenses and other                               297
                                                       --------
      TOTAL CURRENT ASSETS                                5,013

Long-term assets:
   Property, net                                          2,134
   Investment in affiliates                                 376
   Investments in non-Debtor subsidiaries                 3,402
   Goodwill                                                 152
   Other intangible assets                                   33
   Other                                                    336
                                                       --------
TOTAL ASSETS                                            $11,446
                                                       ========

              LIABILITIES AND STOCKHOLDERS' DEFICIT

Current liabilities not subject to compromise:
   Debtor-in-possession financing                        $3,072
   Accounts payable                                       1,272
   Accounts payable to non-Debtor subsidiaries              446
   Accrued liabilities                                      815
                                                       --------
   TOTAL CURRENT LIABILITIES                              5,605

Long-term liabilities not subject to compromise:
   Employee benefit plan obligations and other              639
                                                       --------
   TOTAL LONG-TERM LIABILITIES                              639

Liabilities subject to compromise                        17,607
                                                       --------
   TOTAL LIABILITIES                                     23,851

Stockholders' deficit:
   Common stock                                               6
   Additional paid-in capital                             2,772
   Accumulated deficit                                  (12,274)
   Accumulated other comprehensive loss                  (2,857)
   Treasury stock, at cost (3.2 million shares)             (52)
                                                       --------
   TOTAL STOCKHOLDERS' DEFICIT                          (12,405)
                                                       --------
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT             $11,446
                                                       ========

                    Delphi Corporation, et al.
          Unaudited Consolidated Statement of Operations
                    Month Ended March 31, 2007
                          (In Millions)

Net sales:
   General Motors and affiliates                           $849
   Other customers                                          567
   Intercompany non-Debtor subsidiaries                      95
                                                       --------
Total net sales                                           1,511
                                                       --------
Operating expenses:
   Cost of sales                                          1,387
   Selling, general and administrative                       82
   Depreciation and amortization                             53
                                                       --------
Total operating expenses                                  1,522
                                                       --------
Operating loss                                              (11)

Interest expense                                            (31)
Loss on extinguishment of debt                              (23)
Other income, net                                             7

Reorganization items                                         (6)
Income tax benefit (expense)                                 (3)
Equity income from non-consolidated subsidiaries              5
Equity income from non-Debtor subsidiaries, net of tax       (1)
                                                       --------
NET LOSS                                                   ($63)
                                                       ========

                    Delphi Corporation, et al.
          Unaudited Consolidated Statement of Cash Flows
                    Month Ended March 31, 2007
                          (In Millions)

Cash flows from operating activities:
   Net loss                                                ($63)
   Adjustments to reconcile net loss
    to net cash provided by operating activities:
    Depreciation and amortization                            53
    Pension and other postretirement benefit expenses        42
    Equity loss from unconsolidated subsidiaries, net        (5)
    Equity loss from non-Debtor subsidiaries, net of tax      1
    Reorganization items                                      6
    Loss on debt extinguishment                              23
   Changes in operating assets and liabilities:
    Accounts receivable, net                               (149)
    Inventories, net                                         41
    Prepaid expenses and other                               (4)
    Accounts payable, accrued and other long-term debts     (65)
    U.S. employee special attrition program                 (29)
    Pension contributions                                    (1)
    Other postretirement benefit payments                   (17)
    Receipts (payments) for reorganization items, net       (15)
    Other                                                    (8)
                                                       --------
Net cash used in operating activities                      (190)

Cash flows from investing activities:
   Capital expenditures                                     (11)
   Proceeds from sale of property                             2
   Other                                                     (2)
                                                       --------
Net cash used in investing activities                       (11)

Cash flows from financing activities:
   Net proceeds from DIP facility                           177
   Net repayment of borrowings under other debt agreements   (2)
                                                       --------
Net cash used in financing activities                       175
                                                       --------
Decrease in cash and cash equivalents                       (26)
Cash and cash equivalents at beginning of period            139
                                                       --------
Cash and cash equivalents at end of period                 $113
                                                       ========

                     About Delphi Corporation

Troy, Mich.-based Delphi Corporation (OTC: DPHIQ) --
http://www.delphi.com/-- is the single largest global supplier of   
vehicle electronics, transportation components, integrated systems
and modules, and other electronic technology.  The Company's
technology and products are present in more than 75 million
vehicles on the road worldwide.  

The Company filed for chapter 11 protection on Oct. 8, 2005
(Bankr. S.D.N.Y. Lead Case No. 05-44481).  John Wm. Butler Jr.,
Esq., John K. Lyons, Esq., and Ron E. Meisler, Esq., at Skadden,
Arps, Slate, Meagher & Flom LLP, represent the Debtors in their
restructuring efforts.  Robert J. Rosenberg, Esq., Mitchell A.
Seider, Esq., and Mark A. Broude, Esq., at Latham & Watkins LLP,
represents the Official Committee of Unsecured Creditors.  As of
Aug. 31, 2005, the Debtors' balance sheet showed $17,098,734,530
in total assets and $22,166,280,476 in total debts.  

The Debtors' exclusive plan-filing period expires on July 31,
2007. (Delphi Corporation Bankruptcy News, Issue No. 67;
Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/
or 215/945-7000).


DURA AUTOMOTIVE: Files Monthly Operating Report for April 2007
--------------------------------------------------------------

         Dura Automotive Systems, Inc., and Subsidiaries
         Condensed Unaudited Consolidated Balance Sheet
                       As of April 1, 2007
                      (Dollars in thousands)

                              ASSETS

Current assets:
   Cash and cash equivalents                             $5,894
   Accounts receivable, net
      Trade                                             146,267
      Other                                              16,186
      Non-Debtor subsidiaries                            24,289
   Inventories                                           81,344
   Other current assets                                  40,532
                                                     ----------
      Total current assets                              314,512
                                                     ----------

Property, plant and equipment, net                      172,002
Goodwill, net                                           249,927
Notes receivable from Non-Debtors subsidiaries          183,142
Investment in Non-Debtors subsidiaries                  790,647
Other noncurrent assets                                  26,706
                                                     ----------
Total Assets                                         $1,736,936
                                                     ==========

        LIABILITIES AND NET LIABILITIES IN LIQUIDATION

Current liabilities:
   Debtors-in-possession financing                     $193,139
   Accounts payable                                      43,807
   Accounts payable to Non-Debtors subsidiaries             922
   Accrued Liabilities                                   92,931
                                                     ----------
      Total current liabilities                         330,799
                                                     ----------
Long-term Liabilities:
   Notes Payable to Non-Debtors subsidiaries              8,662
   Other noncurrent liabilities                          57,401
Liabilities Subject to Compromise                     1,319,375
                                                     ----------
Total Liabilities                                     1,716,237

Stockholders' Investment                                 20,699
                                                     ----------
Total Liabilities and Stockholders' Investment       $1,736,936
                                                     ==========

        Dura Automotive Systems, Inc., and Subsidiaries
   Condensed Unaudited Consolidated Statement of Operations
            For the Five Weeks Ended April 1, 2007
                      (Dollars in thousands)

Total sales                                            $102,608
Cost of sales                                           100,212
                                                     ----------
Gross (loss) profit                                       2,396

Selling, general and administrative expenses              8,301
Facility consolidation, asset impairment
   and other charges                                      4,694
Amortization expense                                         96
                                                     ----------
Operating (loss) income                                 (10,695)

Interest expense, net                                     4,176
                                                     ----------
Loss before reorganization items and income taxes       (14,871)

Reorganization items                                      8,368
                                                     ----------
Loss before income taxes                                (23,239)

Provision for income taxes                                   48
                                                     ----------
Net Loss                                               ($23,287)
                                                     ==========

        Dura Automotive Systems, Inc., and Subsidiaries
   Condensed Unaudited Consolidated Statements of Cash Flows
            For the Five Weeks Ended April 1, 2007
                      (Dollars in thousands)

Operating Activities:
Net loss                                               ($23,287)
Adjustments to reconcile net loss to net cash used
   in operations activities:
      Depreciation, amortization & asset impairments      2,770
      Amortization of deferred financing fees               665
      Bad debts                                             118
      Reorganization items                                8,368
Changes in other operating items:
   Accounts receivable                                   (9,480)
   Inventories                                              949
   Other current assets                                   2,576
   Noncurrent assets                                        105
   Accounts payable                                      (2,294)
   Accrued liabilities                                   (4,124)
   Noncurrent liabilities                                   207
   Current intercompany transactions                     (2,139)
                                                     ----------
Net cash (used in) provided by operating activities     (25,566)

Investing Activities:
Purchases of property, plant & equipment                 (1,385)
                                                     ----------
Net cash (used in) provided by investing activities      (1,385)

Financing Activities:
   DIP borrowings                                        28,139
   Payments on prepetition debt                            (323)
                                                     ----------
Net cash used in financing activities                    27,816

Net Increase (Decrease) in Cash & Equivalents               865

Cash & Cash Equivalent, Beginning Balance                 5,029
                                                     ----------
Cash & Cash Equivalent, Ending Balance                   $5,894
                                                     ==========

Rochester Hills, Mich.-based DURA Automotive Systems Inc.
(Nasdaq: DRRA) -- http://www.DURAauto.com/-- is an independent    
designer and manufacturer of driver control systems, seating
control systems, glass systems, engineered assemblies, structural
door modules and exterior trim systems for the global automotive
industry.  The company is also a supplier of similar products to
the recreation vehicle and specialty vehicle industries.  DURA
sells its automotive products to North American, Japanese and
European original equipment manufacturers and other automotive
suppliers.

The Debtors filed for chapter 11 petition on Oct. 30, 2006 (Bankr.
D. Delaware Case No. 06-11202).  Richard M. Cieri, Esq., Marc
Kieselstein, Esq., Roger James Higgins, Esq., and Ryan Blaine
Bennett, Esq., of Kirkland & Ellis LLP are lead counsel for the
Debtors' bankruptcy proceedings.  Mark D. Collins, Esq., Daniel J.
DeFranseschi, Esq., and Jason M. Madron, Esq., of Richards Layton
& Finger, P.A. Attorneys are the Debtors' co-counsel.  Baker &
McKenzie acts as the Debtors' special counsel.  Togut, Segal &
Segal LLP is the Debtors' conflicts counsel.  Miller Buckfire &
Co., LLC is the Debtors' investment banker.  Glass & Associates
Inc., gives financial advice to the Debtor.  Kurtzman Carson
Consultants LLC handles the notice, claims and balloting for the
Debtors and Brunswick Group LLC acts as their Corporate
Communications Consultants for the Debtors.  As of July 2, 2006,
the Debtor had $1,993,178,000 in total assets and $1,730,758,000
in total liabilities.

The Debtors' exclusive plan-filing period expires on May 23,
2007. (Dura Automotive Bankruptcy News, Issue No. 18; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/   
or 215/945-7000).


FEDERAL-MOGUL: Earns $5.5 Million in Month Ended March 31, 2007
---------------------------------------------------------------

                Federal-Mogul Global, Inc., et al.
                     Unaudited Balance Sheet
                       As of March 31, 2007
                          (In millions)

                              Assets

Cash and equivalents                                      $59.8
Accounts receivable                                       636.9
Inventories                                               420.1
Deferred taxes                                            191.2
Prepaid expenses and other current assets                  86.8
                                                       --------
Total current assets                                    1,394.8

Summary of Unpaid Postpetition Debits                     (38.3)
Intercompany Loans Receivable (Payable)                 1,625.1
                                                       --------
Intercompany Balances                                   1,586.8

Property, plant and equipment                             792.7
Goodwill                                                  930.1
Other intangible assets                                   342.7
Insurance recoverable                                     860.1
Other non-current assets                                  526.4
                                                       --------
Total Assets                                           $6,433.6
                                                       ========

               Liabilities and Shareholders' Equity

Short-term debt                                          $373.0
Accounts payable                                          233.2
Accrued compensation                                       60.9
Restructuring and rationalization reserves                 19.5
Current portion of asbestos liability                        -
Interest payable                                            4.4
Other accrued liabilities                                 303.5
                                                       --------
Total current liabilities                                 994.4

Long-term debt                                               -
Post-employment benefits                                  753.9
Other accrued liabilities                                 505.9
Liabilities subject to compromise                       5,811.4

Shareholders' equity:
   Preferred stock                                      1,050.6
   Common stock                                           658.1
   Additional paid-in capital                           7,986.8
   Accumulated deficit                                (11,420.5)
   Accumulated other comprehensive income                  93.1
   Other                                                     -
                                                       --------
Total Shareholders' Equity                             (1,631.8)
                                                       --------
Total Liabilities and Shareholders' Equity             $6,433.6
                                                       ========

                Federal-Mogul Global, Inc., et al.
                Unaudited Statement of Operations
                For the Month Ended March 31, 2007
                          (In millions)

Net sales                                                $295.1
Cost of products sold                                     238.0
                                                       --------
Gross margin                                               57.1

Selling, general & administrative expenses                (43.0)
Amortization                                               (1.2)
Reorganization items                                      (10.1)
Interest expense, net                                     (15.4)
Other expense, net                                         21.1
                                                       --------
Earnings before Income Taxes                                8.5

Income Tax (Expense) Benefit                               (3.1)
                                                       --------
Earnings before cumulative effect of change
   in acctg. principle                                      5.5
                                                       --------
Net Earnings (loss)                                        $5.5
                                                       ========

                Federal-Mogul Global, Inc., et al.
                Unaudited Statement of Cash Flows
                For the month ended March 31, 2007
                          (In millions)

Cash Provided From (Used By) Operating Activities:
   Net earning (loss)                                      $5.5
Adjustments to reconcile net earnings (loss) to net cash:
   Depreciation and amortization                           12.6
   Adjustment of assets held for sale and
      other long-lived assets to fair value                  -
   Asbestos charge                                           -
   Summary of unpaid postpetition debits                     -
   Cumulative effect of change in acctg. Principle           -
   Change in post-employment benefits                       0.9
   Decrease (increase) in accounts receivable             (61.8)
   Decrease (increase) in inventories                      14.3
   Increase (decrease) in accounts payable                  9.8
   Change in other assets & other liabilities              26.7
   Change in restructuring charge                            -
   Refunds (payments) against asbestos liability           (1.9)
                                                       --------
Net Cash Provided From Operating Activities                 6.1

Cash Provided From (Used By) Investing Activities:
   Expenditures for property, plant & equipment            (9.4)
   Proceeds from sale of property, plant & equipment         -
   Proceeds from sale of businesses                          -
   Business acquisitions, net of cash acquired               -
   Other                                                     -
                                                       --------
Net Cash Provided From (Used By) Investing Activities      (9.4)

Cash Provided From (Used By) Financing Activities:
   Increase (decrease) in debt                             (1.3)
   Sale of accounts receivable under securitization          -
   Dividends                                                 -
   Other                                                   (0.1)
                                                       --------
Net Cash Provided From Financing Activities                (1.4)

Increase (Decrease) in Cash and Equivalents                (4.7)

Cash and equivalents at beginning of period                64.5
                                                       --------
Cash and equivalents at end of period                     $59.8
                                                       ========

Headquartered in Southfield, Michigan, Federal-Mogul Corporation
-- http://www.federal-mogul.com/-- is an automotive parts company
with worldwide revenue of some $6 billion.  Federal-Mogul also has
operations in Mexico and the Asia Pacific Region, which includes,
Malaysia, Australia, China, India, Japan, Korea, and Thailand.

The Company filed for chapter 11 protection on Oct. 1, 2001
(Bankr. Del. Case No. 01-10582).  Lawrence J. Nyhan Esq., James F.
Conlan Esq., and Kevin T. Lantry Esq., at Sidley Austin Brown &
Wood, and Laura Davis Jones Esq., at Pachulski, Stang, Ziehl,
Young, Jones & Weintraub, P.C., represent the Debtors in their
restructuring efforts.  When the Debtors filed for protection from
their creditors, they listed $10.15 billion in assets and
$8.86 billion in liabilities.  Federal-Mogul Corp.'s U.K.
affiliate, Turner & Newall, is based at Dudley Hill, Bradford.
Peter D. Wolfson, Esq., at Sonnenschein Nath & Rosenthal; and
Charlene D. Davis, Esq., Ashley B. Stitzer, Esq., and Eric M.
Sutty, Esq., at The Bayard Firm represent the Official Committee
of Unsecured Creditors.

On March 7, 2003, the Debtors filed their Joint Chapter 11 Plan.
They submitted a Disclosure Statement explaining that plan on
April 21, 2003.  They submitted several amendments and on June 6,
2004, the Bankruptcy Court approved the Third Amended Disclosure
Statement for their Third Amended Plan.  On July 28, 2004, the
District Court approved the Disclosure Statement.  The estimation
hearing began on June 14, 2005.  They then submitted a Fourth
Amended Plan and Disclosure Statement on Nov. 21, 2006, and the
Bankruptcy Court approved that Disclosure Statement on Feb. 6,
2007.  The confirmation hearing is set for June 8, 2007.
(Federal-Mogul Bankruptcy News, Issue No. 135; Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or
215/945-7000).


MERIDIAN AUTOMOTIVE: Posts $52 Million Net Loss in December 2006
----------------------------------------------------------------

             Meridian Automotive Systems - Composites
                 Operations, Inc. and Subsidiaries
               Unaudited Consolidated Balance Sheet
                      As of December 31, 2006
                          (In Thousands)

CURRENT ASSETS:
    Cash                                                      -
    Accounts receivable, net                            $59,833
    Intercompany receivable                              16,521
    Inventories                                          55,360
    Tooling costs in excess of billings and others       27,457
                                                     ----------
       TOTAL CURRENT ASSETS                             159,171
                                                     ----------
    Property, plant and equipment, net                  194,718
    Intangible assets                                     1,881
    Investment in subsidiaries                           23,863
    Other assets                                          7,210
                                                     ----------
       TOTAL ASSETS                                    $386,843
                                                     ==========

CURRENT LIABILITIES NOT SUBJECT TO COMPROMISE:
    Current portion of long term debt                   $62,022
    Accounts payable                                     46,092
    Accrued expenses                                     43,503
    Tooling billings in excess of costs                   4,222
                                                     ----------
       TOTAL CURRENT LIABILITIES                        155,839
                                                     ----------

    Liabilities subject to compromise                   821,034

    Non-Current Liabilities Not Subject to Compromise:
       Other long-term liabilities                       13,760
       Accumulated post-retirement benefit obligation    23,999
                                                     ----------
       TOTAL LIABILITIES                              1,014,632
       SHAREHOLDERS' EQUITY                            (627,789)
                                                     ----------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY             $386,843
                                                     ==========

              Meridian Automotive Systems - Composite
                 Operations, Inc. and Subsidiaries
                 Unaudited Statement of Operations
                      December 1 to 31, 2006
                           (In Thousands)

Net sales                                               $54,247
Cost of sales                                            73,979
                                                     ----------
Gross profit                                            (19,732)

Selling, general and administrative expenses             17,479
Restructuring charges                                     4,683
                                                     ----------
Operating income (loss)                                 (41,894)

Interest expense, net                                     8,215
Other (expense) income                                    4,443
Chapter 11 and related reorganization items               6,710
                                                     ----------
Loss before provision for income taxes                  (52,376)
(Benefit) Provision for income taxes                         29
                                                     ----------
NET LOSS                                               ($52,405)
                                                     ==========

              Meridian Automotive Systems - Composite
                 Operations, Inc. and Subsidiaries
                 Unaudited Statement of Cash Flows
                      December 1 to 31, 2006
                           (In Thousands)

OPERATING ACTIVITIES:
    Net loss                                           ($52,405)
    Adjustments required to reconcile net loss to net
     cash provided by (used in) operating activities:
       Depreciation, amortization, and impairment        21,707
       Change in working capital and other operating
        items                                            24,786
                                                     ----------
     Net cash provided by (used for) operating
      activities before reorganization items             (5,912)
                                                     ----------
     Operating cash flows from reorganization items:
        Chapter 11 and related reorganization items       6,710
        Payments on Chapter 11 and related reorg items   (5,083)
                                                     ----------
     Net cash provided by Chapter 11 and related
      reorg items                                         1,627

     Net cash provided by (used for) operating
      activities                                         (4,285)

INVESTING ACTIVITIES:
    Additions to property and equipment                  (5,383)
    Proceeds from sale or property and equipment          4,168
                                                     ----------
    Net cash used for investing activities               (1,215)
                                                     ----------

FINANCING ACTIVITIES:
    Proceeds from prepetition borrowings                      -
    Repayments of prepetition borrowings                      -
    Proceeds from DIP credit facility                    23,000
    Repayments of DIP credit facility                   (17,500)
    Repayments on prepetition long-term debt                  -
    Deferred financing costs capitalized                      -
                                                     ----------
Net cash (used for) provided by financing activities      5,500
                                                     ----------
Net increase (decrease) in cash                               -
                                                     ----------
Cash and Cash Equivalents, beginning of period                -

Cash and Cash Equivalents, end of period                      -
                                                     ==========

Headquartered in Dearborn, Mich., Meridian Automotive Systems,
Inc. -- http://www.meridianautosystems.com/-- supplies   
technologically advanced front and rear end modules, lighting,
exterior composites, console modules, instrument panels and other
interior systems to automobile and truck manufacturers.  Meridian
operates 22 plants in the United States, Canada and Mexico,
supplying Original Equipment Manufacturers and major Tier One
parts suppliers.  

The Company and its debtor-affiliates filed for chapter 11
protection on April 26, 2005 (Bankr. D. Del. Case Nos.
05-11168 through 05-11176).  James F. Conlan, Esq., Larry J.
Nyhan, Esq., Paul S. Caruso, Esq., and Bojan Guzina, Esq., at
Sidley Austin Brown & Wood LLP, and Robert S. Brady, Esq., Edmon
L. Morton, Esq., Edward J. Kosmowski, Esq., and Ian S. Fredericks,
Esq., at Young Conaway Stargatt & Taylor, LLP, represent the
Debtors in their restructuring efforts.  When the Debtors filed
for protection from their creditors, they listed $530 million in
total assets and approximately $815 million in total liabilities.
(Meridian Bankruptcy News, Issue No. 52; Bankruptcy Creditors'
Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000).


MUSICLAND HOLDING: Posts $3.9 Million Net Loss in February 2007
---------------------------------------------------------------

                      Musicland Holding Corp.
                    Consolidated Balance Sheet
                     As of February 28, 2007

ASSETS
Current Assets
   Cash                                            $11,757,000
   Letters of Credit/Other Deposits                    515,000
   Other
      Amounts due from TransWorld                    2,500,000
      Receivables from Sub-leases                      774,000
      Amounts due from GOB sales                             -
      Miscellaneous CC                                  29,000
      Vendors Credit due from services               2,608,000
                                                 -------------
      Total                                         18,183,000
                                                 =============

Fixed Assets                                                 0
Other assets
   Transport Logistic deposit                                -
   Insurance Deposits                                3,977,000
   Utility and Tax Deposits                                  -
                                                 -------------
      TOTAL ASSETS                                 $22,160,000
                                                 =============

LIABILITIES AND SHAREHOLDERS' DEFICIT
Current liabilities
   Accounts payable
      Due to Transworld                                      -
      Due to Deluxe                                          -
      Expense accruals                              $2,840,000
   Other accrued liabilities
      Logistic Accrual                                       -
      Deferred Income                                        -
      Insurance Reserve                              3,380,000
      Accrued Payroll & Employee Benefits:
         Accrued Vacation                                    -
         Accrued Severance                                   -
         Accrued Employer Payroll Taxes                      -
         Accrued Benefits                                    -
      Sales Tax                                              -
      5% Admin. Fee on Wachovia L/C                    250,000
      FY06 Tax Return & Employee Benefit
         Audit Services                                      -
      Payroll/W2 & 1099 System                               -
      Miscellaneous                                     29,000
   Gift Card liabilities                                     -
                                                 -------------
      Total                                          3,659,000
                                                 -------------

DIP financing                                                -
Other LT Liabilities                                         -
Liabilities subject to compromise                  315,047,000
Shareholders' deficit                             (299,386,000)
                                                 -------------
      TOTAL LIABILITIES &
      SHAREHOLDERS' DEFICIT                        $22,160,000
                                                 =============

                       Musicland Holding Corp.
                       Statement of Operations
                For the Month Ended February 28, 2007


Merchandise revenue                                          -
Non-merchandise revenue                                      -

   Net sales                                                 -

Cost of good sold                                            -

   Gross Profit                                              -

Store operating expenses
   Payroll                                                   -
   Occupancy                                                 -
   Other                                              ($58,000)
                                                 -------------
      Store expenses                                         0
                                                 -------------
General & administrative                               (58,000)
                                                 -------------
EBITDA (Loss)                                          (58,000)

Hilco 340 Store GOB                                          -
Chapter 11 & related charges                          (241,000)
Sale to Transworld                                           -
Hilco 65                                                     -
Media Play Wind down                                         -
Depreciation & Amortization                                  -
                                                 -------------
   Operating income (Loss)                            (299,000)

Interest income (expense)                               43,000
Other non-operating charges                         (3,711,000)
                                                 -------------
   Earnings before Taxes                            (3,967,000)
                                                 -------------
Income tax                                                   0
                                                 -------------
   Net earnings (Loss)                             ($3,967,000)
                                                 =============

                      Musicland Holding Corp.
                      Statements of Cash Flow
                For the Month Ended February 28, 2007

Operating activities
   Net earnings (Loss)                             ($3,967,000)
   Adjustments to reconcile net earnings (loss)
      to net cash provided by (used in)
      operating activities:
         Loss on utility deposits write off                  -

   Changes in operating assets & liabilities:
      Inventory                                              -
      Other current assets                           3,779,000
      Other Non-current Assets                               -
      Accounts payable                                       -
      Other accrued liabilities                              -

      Liabilities subject to compromise                      -
                                                 -------------
   Net cash provided by (used in)
      operating activities                            (188,000)
                                                 -------------

Investing activities
   Change in other long term asset/liabilities               -
   Retirement of fixed assets                                -
      Net cash                                               -

Financing activities
   Distribution to Secured Creditors                         -
                                                 -------------
Increase/decrease in cash                             (188,000)
                                                 -------------
   Cash at the beginning of Period                  11,945,000
                                                 -------------
   Cash at the end of Period                       $11,757,000
                                                 =============

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

                            Plan Update

On May 12, 2006, the Debtors filed their Joint Plan of Liquidation
with the Court.  On Sept. 14, 2006, they filed an amended Plan and
a Second Amended Plan on Oct. 13, 2006.  The Court approved the
adequacy of the Amended Disclosure Statement on Oct. 13, 2006.


MUSICLAND HOLDING: Posts $2 Million Net Loss in March 2007
----------------------------------------------------------

                       Musicland Holding Corp.
                     Consolidated Balance Sheet
                        As of March 31, 2007

ASSETS
Current Assets
   Cash                                            $12,026,000
   Letters of Credit/Other Deposits                    415,000
   Other
      Amounts due from TransWorld                    1,300,000
      Receivables from Sub-leases                      774,000
      Amounts due from GOB sales                             -
      Miscellaneous CC                                  29,000
      Vendors Credit due from services               1,600,000
                                                 -------------
      Total                                         16,144,000
                                                 =============

Fixed Assets                                                 0
Other assets
   Transport Logistic deposit                                -
   Insurance Deposits                                3,977,000
   Utility and Tax Deposits                                  -
                                                 -------------
      TOTAL ASSETS                                 $20,121,000
                                                 =============

LIABILITIES AND SHAREHOLDERS' DEFICIT
Current liabilities
   Accounts payable
      Due to Transworld                                      0
      Due to Deluxe                                          0
      Expense accruals                              $2,840,000
   Other accrued liabilities
      Logistic Accrual                                       -
      Deferred Income                                        -
      Insurance Reserve                              3,380,000
      Accrued Payroll & Employee Benefits:
         Accrued Vacation                                    -
         Accrued Severance                                   -
         Accrued Employer Payroll Taxes                      -
         Accrued Benefits                                    -
      Sales Tax                                              -
      5% Admin. Fee on Wachovia L/C                    250,000
      FY06 Tax Return & Employee Benefit
         Audit Services                                      -
      Payroll/W2 & 1099 System                               -
      Miscellaneous                                     29,000
   Gift Card liabilities                                     0
                                                 -------------
      Total                                          3,659,000
                                                 -------------

DIP financing                                                0
Other LT Liabilities                                         0
Liabilities subject to compromise                  315,047,000
Shareholders' deficit                             (301,425,000)
                                                 -------------
      TOTAL LIABILITIES &
      SHAREHOLDERS' DEFICIT                        $20,121,000
                                                 =============

                       Musicland Holding Corp.
                       Statement of Operations
                 For the Month Ended March 31, 2007

Merchandise revenue                                          -
Non-merchandise revenue                                      -

   Net sales                                                 -

Cost of good sold                                            -

   Gross Profit                                              -

Store operating expenses
   Payroll                                                   -
   Occupancy                                                 -
   Other                                              ($29,000)
                                                  -------------
      Store expenses                                         0
                                                  -------------
General & administrative                               (29,000)
                                                  -------------
EBITDA (Loss)                                          (29,000)

   Hilco 340 Store GOB                                       -
   Chapter 11 & related charges                       (733,000)
   Sale to Transworld                                        0
   Hilco 65                                                  0
   Media Play Wind down                                      0
   Depreciation & Amortization                               0
                                                 -------------
      Operating income (Loss)                         (762,000)

   Interest income (expense)                            45,000
   Other non-operating charges                      (1,321,000)
                                                 -------------
      Earnings before Taxes                         (2,038,000)
                                                 -------------
   Income tax                                                0
                                                 -------------
      Net earnings (Loss)                          ($2,038,000)
                                                 =============

                       Musicland Holding Corp.
                       Statements of Cash Flow
                  For the Month Ended March 31, 2007

Operating activities
   Net earnings (Loss)                             ($2,038,000)
   Adjustments to reconcile net earnings (loss)
      to net cash provided by (used in)
      operating activities:
         Loss on utility deposits write off             (1,000)

   Changes in operating assets & liabilities:
      Inventory                                              -
      Other current assets                           2,308,000
      Other Non-current Assets                               -
      Accounts payable                                       -
      Other accrued liabilities                              -
                                                             -
      Liabilities subject to compromise                      -
                                                 -------------
   Net cash provided by (used in)
      operating activities                             269,000
                                                 -------------

Investing activities
   Change in other long term asset/liabilities               -
   Retirement of fixed assets                                -
      Net cash                                               -

Financing activities
   Distribution to Secured Creditors                         -
                                                 -------------
Increase/decrease in cash                              269,000
                                                 -------------
   Cash at the beginning of Period                  11,757,000
                                                 -------------
   Cash at the end of Period                       $12,026,000
                                                 =============

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

                            Plan Update

On May 12, 2006, the Debtors filed their Joint Plan of Liquidation
with the Court.  On Sept. 14, 2006, they filed an amended Plan and
a Second Amended Plan on Oct. 13, 2006.  The Court approved the
adequacy of the Amended Disclosure Statement on Oct. 13, 2006.  


SOLUTIA INC: Posts $3 Mil. Net Loss in Month Ended March 31, 2007
-----------------------------------------------------------------

                  Solutia Chapter 11 Debtors
              Unaudited Statement of Consolidated
                      Financial Position
                     As of March 31, 2007

                          ASSETS

Cash                                                $26,000,000
Trade Receivables, net                              195,000,000
Account Receivables-Unconsolidated Subsidiaries      77,000,000
Inventories                                         201,000,000
Other Current Assets                                245,000,000
                                                 --------------
Total Current Assets                                744,000,000

Property, Plant and Equipment, net                  661,000,000
Investments in Subsidiaries and Affiliates          571,000,000
Intangible Assets, net                              100,000,000
Other Assets                                         59,000,000
                                                 --------------
Total Assets                                     $2,135,000,000
                                                 ==============

              LIABILITIES AND SHAREHOLDERS' DEFICIT

Accounts Payable                                   $205,000,000
Short Term Debt                                     975,000,000
Other Current Liabilities                           146,000,000
                                                 --------------
Total Current Liabilities                         1,326,000,000


Other Long-Term Liabilities                         193,000,000
                                                 --------------
Total Liabilities not Subject to Compromise       1,519,000,000

Liabilities Subject to Compromise                 1,922,000,000

Shareholders' Deficit                            (1,306,000,000)
                                                 --------------
Total Liabilities & Shareholders' Deficit        $2,135,000,000
                                                 ==============

                  Solutia Chapter 11 Debtors
        Unaudited Consolidated Statement of Operations
              For the Month Ended March 31, 2007

Total Net Sales                                    $215,000,000
Total Cost Of Goods Sold                            189,000,000
                                                 --------------
Gross Profit                                         26,000,000

Total MAT Expense                                    18,000,000
                                                 --------------
Operating Income (Loss)                               8,000,000

Equity Earnings from Affiliates                       3,000,000
Interest Expense, net                                (4,000,000)
Other Income, net                                     4,000,000
Loss on Debt Modification                            (7,000,000)

Reorganization Items:
Professional fees                                    (6,000,000)
Employee severance and retention costs                        0
Other                                                         0
                                                 --------------
                                                     (6,000,000)
                                                 --------------
Loss Before Taxes                                    (2,000,000)

Income tax expense (benefit)                          1,000,000
                                                 --------------
Net Loss                                            ($3,000,000)
                                                 ==============

Headquartered in St. Louis, Missouri, Solutia Inc. (OTCBB:SOLUQ)
-- http://www.solutia.com/-- and its subsidiaries, engage in the   
manufacture and sale of chemical-based materials, which are used
in consumer and industrial applications worldwide.  The company
and 15 debtor-affiliates filed for chapter 11 protection on
Dec. 17, 2003 (Bankr. S.D.N.Y. Case No. 03-17949).  When the
Debtors filed for protection from their creditors, they listed
$2,854,000,000 in assets and $3,223,000,000 in debts.  

Solutia is represented by Allen E. Grimes, III, Esq., at Dinsmore
& Shohl, LLP and Conor D. Reilly, Esq., at Gibson, Dunn &
Crutcher, LLP.  Trumbull Group LLC is the Debtor's claims and
noticing agent.  Daniel H. Golden, Esq., Ira S. Dizengoff, Esq.,
and Russel J. Reid, Esq., at Akin Gump Strauss Hauer & Feld LLP
represent the Official Committee of Unsecured Creditors, and
Derron S. Slonecker at Houlihan Lokey Howard & Zukin Capital
provides the Creditors' Committee with financial advice.  (Solutia
Bankruptcy News, Issue No. 85; Bankruptcy Creditors' Service,
Inc., http://bankrupt.com/newsstand/or 215/945-7000).


TOWER AUTO: Posts $12 Million Net Loss in March 2007
----------------------------------------------------

               Tower Automotive, Inc. and Subsidiaries
                Unaudited Consolidated Balance Sheets
                       As of March 31, 2007
                           (In Thousands)

CURRENT ASSETS:
    Cash and cash equivalents                              $7,916
    Accounts receivable                                   116,128
    Inventories                                            43,132
    Prepaid tooling and other                              26,241
                                                       ----------
    TOTAL CURRENT ASSETS                                  193,417

    Property, plant and equipment, net                    462,472
    Investment in and advances to affiliates              791,266
    Other assets, net                                      22,314
                                                       ----------
    TOTAL ASSETS                                       $1,469,469
                                                       ==========

CURRENT LIABILITIES NOT SUBJECT TO COMPROMISE:
    Current maturities of long-term debt                       $3
    Current maturities of DIP borrowings                  653,900
    Accounts payable                                      113,079
    Accrued liabilities                                    95,169
                                                       ----------
    TOTAL CURRENT LIABILITIES                             862,151
                                                       ----------
    Liabilities subject to compromise                   1,299,394

Non-Current Liabilities Not Subject to Compromise:
    Long-term debt, net of current maturities              84,751
    Other non-current liabilities                          21,588
                                                       ----------
    TOTAL LIABILITIES                                   2,267,884
                                                       ----------
    STOCKHOLDERS' DEFICIT                                (798,415)
                                                       ----------
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT           $1,469,469
                                                       ==========

               Tower Automotive, Inc. and Subsidiaries
                  Unaudited Statement of Operations
                         March 1 to 31, 2007
                           (In Thousands)

Revenues                                                 $93,648
Cost of sales                                             89,908
                                                       ----------
Gross profit                                               3,740

Selling, general and administrative expenses               4,196
Restructuring and asset impairment charges, net            1,972
Other operating income                                       379
                                                       ----------
Operating income (loss)                                   (2,807)

Interest expense                                           8,974
Interest income                                             (274)
Intercompany interest (income)/expense                    (2,611)
Chapter 11 and related reorganization items                3,137
                                                       ----------
Income (loss) before provision for income taxes,
  equity in earnings and minority interest                (12,033)

Provision (benefit) for income taxes                         339
                                                       ----------
Income (loss) before equity in earnings                  (12,372)

Equity in earnings of joint ventures, net of tax             (27)

NET INCOME/(LOSS)                                       ($12,399)
                                                       ==========

               Tower Automotive, Inc. and Subsidiaries
                  Unaudited Statement of Cash Flows
                         March 1 to 31, 2007
                           (In Thousands)

OPERATING ACTIVITIES:
    Net loss                                             ($12,399)

    Adjustments required to reconcile net loss to net
    cash provided by (used in) operating activities:

       Chapter 11 and related reorganization items          1,211
       Restructuring and asset impairment, net                  -
       Depreciation                                         7,937
       Equity in earnings of joint ventures, net               27
       Change in working capital and operating items       12,600
                                                       ----------
    Net cash provided by operating activities               9,376
                                                       ----------
INVESTING ACTIVITIES:
    Cash disbursed for purchase of property,
     plant and equipment                                   (3,123)
                                                       ----------
    Net cash used for investing activities                 (3,123)
                                                       ----------
FINANCING ACTIVITIES:
    Proceeds from non-DIP borrowings                            -
    Repayments of non-DIP borrowings                            -
    Borrowings from DIP credit facility                    49,000
    Repayments of borrowings from DIP credit facility      (7,500)
                                                       ----------
    Net cash provided by (used in) financing
     activities                                             1,500
                                                       ----------
Net change in cash and cash equivalents                    7,753
                                                       ----------
Cash and Cash Equivalents, beginning of period               163

Cash and Cash Equivalents, end of period                  $7,916
                                                       ==========

Headquartered in Grand Rapids, Michigan, Tower Automotive Inc.
-- http://www.towerautomotive.com/-- is a global designer and
producer of vehicle structural components and assemblies used by
every major automotive original equipment manufacturer,
including BMW, DaimlerChrysler, Fiat, Ford, GM, Honda,
Hyundai/Kia, Nissan, Toyota, Volkswagen and Volvo.  Products
include body structures and assemblies, lower vehicle frames and
structures, chassis modules and systems, and suspension
components.  The company has operations in Korea, Spain and
Brazil.

The company and 25 of its debtor-affiliates filed voluntary
chapter 11 petitions on Feb. 2, 2005 (Bankr. S.D.N.Y. Case No.
05-10576 through 05-10601).  James H.M. Sprayregen, Esq., Ryan
B. Bennett, Esq., Anup Sathy, Esq., Jason D. Horwitz, Esq., and
Ross M. Kwasteniet, Esq., at Kirkland & Ellis, LLP, represent
the Debtors in their restructuring efforts.  Ira S. Dizengoff,
Esq., at Akin Gump Strauss Hauer & Feld LLP, represents the
Official Committee of Unsecured Creditors.  When the Debtors
filed for protection from their creditors, they listed
$787,948,000 in total assets and $1,306,949,000 in total
debts.  The Debtors' exclusive period to file a chapter 11 plan
expired today, May 3.

(Tower Automotive Bankruptcy News, Issue No. 60; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/ or
215/945-7000)

                             *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
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
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Monthly Operating Reports are summarized in every Saturday edition
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For copies of court documents filed in the District of Delaware,
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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,
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Melanie C. Pador, Ludivino Q. Climaco, Jr., Loyda I. Nartatez,
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