TCR_Public/070915.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, September 15, 2007, Vol. 11, No. 219

                             Headlines

CATHOLIC CHURCH: San Diego Files July 2007 Operating Report
DELPHI CORPORATION: Posts $169 Million Net Loss in July 2007
DURA AUTOMOTIVE: Posts $21,306,000 Net Loss in July 2007
NEWPOWER HOLDINGS: Files July 2007 Monthly Operating Report
PACIFIC LUMBER: Scotia Dev't., et al. Files July Operating Report

PACIFIC LUMBER: Scotia Pacific Files July 2007 Operating Report
REFCO LLC: Chapter 7 Trustee Discloses July 2007 Operating Report
SEA CONTAINERS: Earns $8,467,259 in Month Ended July 31, 2007

                             *********

CATHOLIC CHURCH: San Diego Files July 2007 Operating Report
-----------------------------------------------------------

                      Diocese of San Diego
                 Statement of Financial Position
                       As of July 31, 2007

ASSETS

Cash and cash equivalents                            $20,103,692
Funds on deposit with administrative offices:
   Perpetual Care Funds                                        -
   Funds on deposit                                            -
   Other funds on deposit                                      -
Marketable securities                                 38,590,744
Accounts receivable, net of allowance
   Parishes and School                                 1,031,818
   PSDL Trust                                            833,292
   Cathedral Catholic, annual admin fees                  65,120
   Cemetery trade                                      4,249,979
   Tuition, fees and others                            1,715,471
   Juan Diego Trust                                       10,928
Notes and other receivables                              121,291
Pooled income funds, CGAs and CRTs                     1,659,419
Planned gifts receivable                                 354,650
Prepaid expenses                                          36,337
Inventory                                                 18,788
ACA pledges receivables                                1,685,099
Loan to parishes, net                                          -
Pledges receivable $450,429 allowance                          -
Demand note receivable - CSE                                   -
Revisionary Interest in CSE                           65,000,000
Property and equipment, net                           21,688,101
Other land and buildings, net
   Cemetery inventory - graves, crypts & niches        6,589,734
   Cemetery undeveloped land & outside property        1,399,350
   Mater Dei land and land improvements               13,819,408
   Mater Dei buildings                                63,674,835
   Oceanside land and land improvements                5,551,043
Other assets                                                   -
                                                  --------------
Total Assets                                        $248,199,099
                                                  ==============

LIABILITIES AND NET ASSETS

Liabilities:
   Accounts payable and accrued liabilities           $2,176,858
   Special collections                                   170,846
   Accrued vacation                                      343,016
   Accrued Chapter 11 professional fees                2,010,604
   Construction loan - ALSAM Foundation               49,356,681
   Payable to PSDL Trust                              23,485,368
   Funds on deposit:
      Parish and school funds & endowments               767,748
      Perpetual Care Funds                                     -
      Restricted funds on deposit                              -
      Other diocesan entities funds                       43,773
   Reserve for worker's compensation claims            1,604,473
   Priest retirement plan liability                    2,014,713
   Planned gifts liability                                     -
   Annuity payment liability                             609,614
   Liability under Unitrust Agreement                    205,044
   Deferred revenue:
      Annual Catholic Appeal                                   -
      Discount on future interest                        106,875
      Cemetery                                         3,259,317
      Tuition and other fees                           3,146,284
      Other                                                6,920
                                                  --------------
   Total liabilities                                  89,308,135
                                                  --------------
Net Assets:
   Unrestricted:
      Undesignated                                   111,818,958
      Insurance reserve funds                          7,406,675
      Bishop's burse                                   1,326,268
      Designated funds                                   319,094
      Property and equipment                          16,571,507
                                                  --------------
   Total unrestricted                                137,442,503

   Temporarily restricted                             13,079,218
   Permanently restricted                              8,369,243
                                                  --------------
   Total net assets                                  158,890,964
                                                  --------------
   Total liabilities and net assets                 $248,199,099
                                                  ==============


                      Diocese of San Diego
                     Statement of Activities
               For the month ending July 31, 2007

Support and revenue:
   Parish assessments                                   $604,841
   Donations and fundraising                              83,115
   Investment income                                  (1,115,351)
   Interest and other income                              46,501
   Parish & employee insurance reserve funds, net        212,574
   Rental income                                          15,762
   Administrative fees                                  (147,228)
   Gain on sale of property                                    -
   Cemetery sales                                        242,996
   Tuition, net of tuition assistance                    170,177
   Student and other fees                                  1,550
   San Juan Diego English language center                      -
   Concessions/food service                                1,644
   Other                                                  31,304
                                                  --------------
Total support and revenue                                147,884

Expenses:
   Administrative fees                                   230,385
   Programs                                              398,974
   Annual Catholic Appeal                                 15,908
   Distribution of restricted donations                  224,241
   Cemetery cost of sales                                 28,892
   San Juan Diego English language center                 56,821
   General:
      Contributions and charitable programs               41,664
      Schools dept. - support for schools                      -
      Interest expense
         Funds on deposit                                  4,560
         Other                                            87,777
      Depreciation                                        41,495
      Bad debt expense                                     8,434
      Recruiting, advertising & public relations           1,979
      Student related expenses                             3,614
      Concessions/food service                             1,380
      Athletics                                            4,904
      Development/special events                               -
      Operating expenses                                 445,857
      Chaplaincies and ministries                         39,284
      Assessments                                         53,626
      Professional fees                                    6,852
      Chapter 11 fees
         Legal fees                                            -
         UST fees                                              -
         Accounting fees                                       -
      Insurance                                           43,473
      Other                                               24,793
                                                  --------------
Total Expenses                                         1,544,796

   Funds released from restricted funds                 (217,048)
   Net change in designated funds                         (3,069)
                                                  --------------
                                                        (220,117)
                                                  --------------
Increase (decrease) in net assets                     (1,396,911)
                                                  --------------
Net assets:
   Beginning of month                                160,287,875
                                                  --------------
   End of month                                     $158,890,964
                                                  ==============


                      Diocese of San Diego
                 Cash Receipts and Disbursement
               For the month ending July 31, 2007

Beginning balance, 02/28/2007                        $13,418,282

Total receipts - prior general account reports        23,088,157
Less: total disbursements                             14,968,016
Beginning balance                                     21,538,422

Receipts during current period:
   Transfers from Pastoral Services, main checking        44,204
   Transfers between internal accounts                   699,937
   Accounts receivable - pre-filing                       93,224
   Accounts receivable - post-filing                       1,575
   Accounts receivable - assessments pre-filing              661
   Accounts receivable -      assessments post-filing    603,140
   Other receivables                                       9,238
   Planned gifts collection                                    -
   Receipts - health premiums                            975,991
   Rental income                                           9,199
   Annual Catholic Appeal                                266,596
   Interest                                                6,167
   Dividends                                                 203
   Transfers from Service Recipients
      Workers' compensation premium                      116,984
      Priest health - SIF Portion                              -
   Miscellaneous                                           7,248
   Tribunal income                                         2,972
   Southern Cross income                                  30,542
   Programs and ministries                               526,316
   Registration and tuitions                             865,945
   Insurance                                             108,342
   Receipts - reimbursements and other                         -
   Parish and school funds & endowments                        -
   Other Diocesan locations' deposits                     59,137
   Mater Dei owners' contingency reserve                  26,401
   Stock processing                                       14,486
   Special collections                                   117,793
   Athletics                                               1,550
   Concessions and store sales                             1,643
   Restricted account receipts                                 -
   Voids and refunds                                      10,967
   Donations                                               6,327
                                                  --------------
Total receipts                                         4,606,798

Balance                                               26,145,220

Less: Total disbursements during current period
   Transfers to Priest Health Account                      4,821
   Transfers to payroll account                          345,711
   Transfers to medical reimbursement                     39,383
   Holy Cross excess funds on deposit                    375,431
   Transfers to between internal accounts                699,937
   Mater Dei owners' contingency reserve                  49,765
   Administrative                                         15,037
   A/R CES                                                   541
   Athletics                                               6,515
   Bank fees and charges                                   8,037
   Stock processing                                       14,486
   Other Diocesan locations' disbursements               223,346
   Conferences                                            12,473
   Dues/Fees                                              93,302
   Fundraising                                                 -
   Education expenses                                     26,627
   Employee benefits                                       3,933
   FF&E                                                  300,686
   Health insurance and benefits                          72,163
   Health insurance claims paid                           68,894
   Health insurance premiums paid                        956,040
   Lay salaries and wages                                491,057
   Liability insurance                                     4,813
   Maintenance/Repairs                                    22,841
   Medical reimbursements                                 19,759
   Ministries                                             44,530
   Miscellaneous                                          17,790
   Supplies                                               21,053
   Operations                                            168,596
   Payroll                                                86,881
   Postage                                                21,543
   Professional fees                                      51,629
   Professional fees, Chapter 11                       1,226,415
   Printing                                               14,462
   Rent                                                   13,000
   Restricted                                             20,807
   Workers' comp                                          58,526
   Unemployment insurance program                          1,036
   Seminarian tuition                                      2,775
   Stipends/Services                                      39,289
   Withdrawal from funds on deposit                        4,682
   Utilities                                              13,037
   Sales tax                                               1,236
                                                  --------------
                                                       5,662,900
                                                  --------------
Ending balance                                       $20,482,320
                                                  ==============


The Roman Catholic Diocese of San Diego in California --
http://www.diocese-sdiego.org/-- employs approximately
3,000 people in various areas of work.  The Diocese filed for
Chapter 11 protection just before commencement of the first of
court proceedings for 140 sexual abuse lawsuits filed against the
Diocese.  Authorities of the San Diego Diocese said they were not
in favor of litigating their cases.

The San Diego Diocese filed for chapter 11 protection on Feb. 27,
2007 (Bankr. S.D. Calif. Case No. 07-00939).  Gerald P. Kennedy,
Esq., at Procopio, Cory, Hargreaves and Savitch LLP, represents
the Diocese.  Attorneys at Pachulski Stang Ziehl & Jones LLP
represent the Official Committee of Unsecured Creditors.  In its
schedules of assets and liabilities, the Diocese listed total
assets of $152,510,888 and total liabilities of $72,754,092.  

On March 27, 2007, the Debtor filed its plan and disclosure
statement.  San Diego's exclusive period to file a chapter 11 plan
expires on Oct. 15, 2007.  (Catholic Church Bankruptcy News, Issue
No. 102; Bankruptcy Creditors' Service Inc.
http://bankrupt.com/newsstand/or 215/945-7000).   


DELPHI CORPORATION: Posts $169 Million Net Loss in July 2007
------------------------------------------------------------

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

                              ASSETS

Current assets:
   Cash and cash equivalents                                $30
   Restricted cash                                          110
   Accounts receivable, net:
      General Motors and affiliates                       1,488
      Other third parties                                   880
      Non-Debtor affiliates                                 430
   Notes receivable from non-Debtor affiliates              292
   Inventories, net:
      Productive material, work-in-process & supplies       879
      Finished goods                                        249
   Other current assets                                     240
                                                       --------
      TOTAL CURRENT ASSETS                                4,598

Long-term assets:
   Property, net                                          1,842
   Investment in affiliates                                 386
   Investments in non-Debtor affiliates                   3,945
   Goodwill                                                 152
   Other intangible assets                                   29
   Other                                                    306
                                                       --------
      TOTAL LONG-TERM ASSETS                              6,660
                                                       --------
TOTAL ASSETS                                            $11,258
                                                       ========

              LIABILITIES AND STOCKHOLDERS' DEFICIT

Current liabilities not subject to compromise:
   Debtor-in-possession financing                        $3,031
   Accounts payable                                       1,191
   Accounts payable to non-Debtor affiliates                613
   Accrued liabilities                                      961
                                                       --------
   TOTAL CURRENT LIABILITIES                              5,796

Long-term liabilities not subject to compromise:
   Employee benefit plan obligations and other              709

Liabilities subject to compromise                        18,132
                                                       --------
   TOTAL LIABILITIES                                     24,637

Stockholders' deficit:
   Common stock                                               6
   Additional paid-in capital                             2,778
   Accumulated deficit                                  (13,434)
   Accumulated other comprehensive loss                  (2,677)
   Treasury stock, at cost (3.2 million shares)             (52)
                                                       --------
   TOTAL STOCKHOLDERS' DEFICIT                          (13,379)
                                                       --------
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT             $11,258
                                                       ========


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

Net sales:
   General Motors and affiliates                           $593
   Other customers                                          381
   Non-Debtor affiliates                                     38
                                                       --------
Total net sales                                           1,012
                                                       --------
Operating expenses:
   Cost of sales                                          1,063
   Long-lived asset impairment charges                        -
   Depreciation and amortization                             45
   Selling, general and administrative                       91
                                                       --------
Total operating expenses                                  1,199
                                                       --------
Operating loss                                             (187)

Interest expense                                            (24)
Loss on extinguishment of debt                                -
Other (expense) income, net                                   1

Reorganization items                                        (10)
Income tax benefit (expense)                                  1
Equity income from non-consolidated affiliates                4
Equity income from non-Debtor affiliates                     46
                                                       --------
NET LOSS                                                  ($169)
                                                       ========


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

Cash flows from operating activities:
   Net loss                                               ($169)
   Adjustments to reconcile net loss
    to net cash provided by operating activities:
    Depreciation and amortization                            45
    Pension and other postretirement benefit expenses        79
    Equity income from unconsolidated affiliates             (4)
    Equity income from non-Debtor affiliates                (46)
    Reorganization items                                     10
   Changes in operating assets and liabilities:
    Accounts receivable, net                                458
    Inventories, net                                        (49)
    Other assets                                             16
    Accounts payable, accrued and other long-term debts     (90)
    U.S. employee special attrition program                 (19)
    Other postretirement benefit payments                   (22)
    Pension contributions                                   (48)
    Payments for reorganization items                       (19)
    Other                                                     6
                                                       --------
Net cash used in operating activities                       148

Cash flows from investing activities:
   Capital expenditures                                     (20)
   Proceeds from sale of property                             2
   Other                                                     (1)
                                                       --------
Net cash used in investing activities                       (19)

Cash flows from financing activities:
   Net proceeds from DIP facility                          (125)
   Net repayments of borrowings under other debt pacts        -
                                                       --------
Net cash used in financing activities                      (125)
                                                       --------
Decrease in cash and cash equivalents                         4
Cash and cash equivalents at beginning of period             26
                                                       --------
Cash and cash equivalents at end of period                  $30
                                                       ========

Headquartered in Troy, Mich., Delphi Corporation (OTC: DPHIQ) --
http://www.delphi.com/-- is the single 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.  Delphi has regional headquarters
in Japan, Brazil and France.

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
Mar. 31, 2007, the Debtors' balance sheet showed $11,446,000,000
in total assets and $23,851,000,000 in total debts.

The Debtors' exclusive plan-filing period expires on Dec. 31,
2007.  On Sept. 6, 2007, the Debtors filed their Chapter 11 Plan
of Reorganization and a Disclosure Statement explaining that Plan.  
The Court has set a hearing on October 3 to consider the adequacy
of the Disclosure Statement.  (Delphi Bankruptcy News, Issue No.
82 Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


DURA AUTOMOTIVE: Posts $21,306,000 Net Loss in July 2007
--------------------------------------------------------

        Dura Automotive Systems, Inc., and Subsidiaries
        Condensed Unaudited Consolidated Balance Sheet
                       As of July 29, 2007
                     (Dollars in thousands)

                             ASSETS

Current assets:
  Cash and cash equivalents                              $6,848
  Accounts receivable, net
     Trade                                              117,407
     Other                                               13,000
     Non-Debtor subsidiaries                             33,923
  Inventories                                            84,036
  Other current assets                                   33,120
                                                     ----------
     Total current assets                               288,334


Property, plant and equipment, net                      165,203
Goodwill, net                                           249,927
Notes receivable from Non-Debtors subsidiaries          185,250
Investment in Non-Debtors subsidiaries                  790,647
Other noncurrent assets                                  25,423
                                                     ----------
Total Assets                                         $1,704,784
                                                     ==========

       LIABILITIES AND NET LIABILITIES IN LIQUIDATION

Current liabilities:
  Debtors-in-possession financing                      $236,656
  Accounts payable                                       40,919
  Accounts payable to Non-Debtors subsidiaries            1,297
  Accrued Liabilities                                    86,064
                                                     ----------
     Total current liabilities                          364,936

Long-term Liabilities:
  Notes Payable to Non-Debtors subsidiaries               8,919
  Other noncurrent liabilities                           55,969
Liabilities Subject to Compromise                     1,312,481
                                                     ----------
Total Liabilities                                     1,742,305

Stockholders' Investment                                (37,521)
                                                     ----------
Total Liabilities and Stockholders' Investment       $1,704,784
                                                     ==========


       Dura Automotive Systems, Inc., and Subsidiaries
  Condensed Unaudited Consolidated Statement of Operations
            For the Four Weeks Ended July 29, 2007
                     (Dollars in thousands)

Total sales                                             $54,002
Cost of sales                                            59,969
                                                     ----------
Gross (loss) profit                                      (5,967)

Selling, general and administrative expenses              7,042
Facility consolidation, asset impairment
  and other charges                                         382
Amortization expense                                         34
                                                     ----------
Operating (loss) income                                 (13,425)

Interest expense, net                                     3,681
                                                     ----------
Loss before reorganization items and income taxes       (17,106)

Reorganization items                                      4,182
                                                     ----------
Income before income taxes                              (21,288)

Provision for income taxes                                   18
                                                     ----------
Net Income (Loss)                                      ($21,306)
                                                     ==========


       Dura Automotive Systems, Inc., and Subsidiaries
  Condensed Unaudited Consolidated Statements of Cash Flows
            For the Four Weeks Ended July 29, 2007
                     (Dollars in thousands)

Operating Activities:
Net Income (loss)                                      ($21,306)
Adjustments to reconcile net loss to net cash used
  in operations activities:
     Depreciation, amortization & asset impairment        2,525
     Amortization of deferred financing fees                708
     (Gain)/Loss on sale of assets                           38
     Reorganization items                                 4,182
Changes in other operating items:
  Accounts receivable                                    32,883
  Inventories                                            (5,428)
  Other current assets                                    1,591
  Noncurrent assets                                        (352)
  Accounts payable                                       (6,866)
  Accrued liabilities                                    (6,181)
  Noncurrent liabilities                                     27
  Current intercompany transactions                      (1,202)
                                                     ----------
Net cash provided by operating activities                   619

Investing Activities:
Purchases of property, plant & equipment                  2,410
Proceeds from sales of assets                              (301)
                                                     ----------
Net cash (used in) provided by
   investing activities                                   2,109
                                                     ----------
Net Increase (Decrease) in Cash & Equivalents             1,524

Cash & Cash Equivalent, Beginning Balance                 5,324
                                                     ----------
Cash & Cash Equivalent, Ending Balance                   $6,848
                                                     ==========

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. Del. 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.

On Aug. 22, 2007, the Debtors delivered the Disclosure Statement
explaining the terms of their Joint Plan of Reorganization.  The
Court is set to consider approval of the Disclosure Statement on
Sept. 26, 2007.  (Dura Automotive Bankruptcy News, Issue No. 28
Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/
or 215/945-7000).


NEWPOWER HOLDINGS: Files July 2007 Monthly Operating Report
-----------------------------------------------------------
NewPower Holdings Inc. filed its Monthly Operating Report for
the period from June 30,2007 to July 31, 2007, with the U.S.
Bankruptcy Court for the Northern District of Georgia, Newnan
Division on Sept. 6, 2007.  The company reports an opening
cash balance of $1,784,000 and a closing cash balance of
$1,722,000.
  
A full-text copy of NewPower Holdings Inc.'s Monthly Operating
Report for the period from June 30,2007 to July 31, 2007, is
available at no charge at http://researcharchives.com/t/s?2358

NewPower Holdings Inc. (Pink Sheets: NWPWQ) and its debtor-
affiliates filed for chapter 11 protection on June 11, 2002
(Bankr. N.D. Ga. 02-10836). Paul K. Ferdinands, Esq., at King &
Spalding and William M. Goldman, Esq., at Sidley Austin Brown &
Wood LLP represent the Debtors.  When the Debtors filed for
chapter 11 protection, they reported $231,837,000 in assets and
$87,936,000 in debts.

On Aug. 15, 2003, the U.S. Bankruptcy Court for the Northern
District of Georgia, Newnan Division, confirmed the Second Amended
Chapter 11 Plan with respect to NewPower Holdings, Inc., and TNPC
Holdings, Inc., a wholly owned subsidiary.  That Plan became
effective on Oct. 9, 2003, with respect to the company and TNPC.

On Feb. 28, 2003, the Bankruptcy Court confirmed The New
Power Company's Plan, and that Plan has been effective as of
March 11, 2003 with respect to New Power.  The New Power Company
is a wholly owned subsidiary of the company.


PACIFIC LUMBER: Scotia Dev't., et al. Files July Operating Report
-----------------------------------------------------------------

                   Scotia Development LLC, et al.
                    Consolidated Balance Sheet
                       As of July 31, 2007

ASSETS
Current Assets
   Cash                                           $2,173,193
   Accounts receivable, net                        8,123,356
   Inventory: lower cost or market                23,085,485
   Prepaid expenses                                5,159,578
   Prepaid Restructuring                             100,000
   Investments                                             -
   Other                                             261,102
                                                ------------
      Total Current Assets                        38,902,713

Property, Plant & Equipment                      213,219,728
Less: Accumulated Depreciation                  (136,925,747)
                                                ------------
Net book value of property & plant                76,293,981

Other Assets
   Notes Receivable                                  582,168
   Deferred Financing Costs                        4,718,794
   Long-term Investments                           2,694,361
   Restricted Cash                                 2,509,580
   Deferred Tax Assets                            13,652,208
                                                ------------
      TOTAL ASSETS                              $139,353,805
                                                ============

LIABILITIES & OWNERS EQUITY
Postpetition Liabilities  
   Trade accounts payable                           $864,729
   Tax payable
      Federal payroll taxes                           63,786
      State payroll taxes                              7,545
      Ad valorem taxes                                36,507
      Other taxes                                     24,589
                                                ------------
          Total taxes payable                        132,427

      Secured debt postpetition                            -
      Accrued interest payable                     8,439,356
      Accrued professional fees                    2,244,865
      Other accrued liabilities
         Trade Accruals                            2,260,363
         Compensation and Benefits                 1,476,193
         Other Accrued                               588,840
         Due to Affiliate/Parent                   2,460,019
                                                ------------
      Total Postpetition Liabilities              18,466,791
Prepetition Liabilities
   Notes payable - Secured                       114,048,529
   Priority debt                                   5,987,769
   Federal income tax                                (17,006)
   FICA/ Withholding                                       -   
   Unsecured debt                                  2,921,297
   Other                                          33,835,206
   Due to Affiliate/Parent                        41,661,505
                                                 -----------
     Total Prepetition Liabilities               198,437,300
                                                 -----------
     Total Liabilities                           216,904,091

Owner's Equity (Deficit)
   Equity in Affiliates                          507,531,285
   Common Stock                                        1,001
   Additional Paid-in Capital                    275,546,288
   Retained Earnings: Filing Date               (794,985,292)
   Retained Earnings: Post Filing Date           (65,643,567)
                                                ------------
Total Owner's Equity                             (77,550,285)
                                                ------------
TOTAL LIABILITIES & OWNERS EQUITY               $139,353,805
                                                ============


                Scotia Development LLC, et al.
                     Statement of Income
              For the Period Ended July 31, 2007

Revenues                                          $9,877,685
Total cost of revenues                            12,362,520
                                                ------------
Gross Profit                                      (2,484,835)

Operating Expenses
   Selling & Marketing                                74,603
   General & Administrative                          533,418
   Insiders Compensation                             106,674
   Professional Fees                                       -
   Idle Facilities                                    65,704
   Environmental                                      32,471
                                                ------------
      Total Operating Expenses                       812,869
                                                ------------

Income before interest, depreciation, tax         (3,297,705)
Interest Expense                                   1,789,336
Depreciation                                         867,577
Other (Income) Expenses                              (36,929)
Restructuring
   Professional Fees                                 701,382
   Other                                              34,091
Amortization of Deferred Financing Costs             225,900
Equity Loss (Earnings) in Subsidiary               3,705,624
Total Interest, Depreciation & Other Items         7,286,979
                                                ------------
Net Income Before Taxes                          (10,584,684)
Federal Income Tax                                         -
                                                ------------
Net Income (Loss)                               ($10,584,684)
                                                ============


                Scotia Development LLC, et al.
               Cash Receipts and Disbursements
               For the Month Ended July 31, 2007

Receipts
   Cash Sales                                        $66,868
   Collection of Accounts Receivable              10,546,349
   Loans & Advances                                    6,079
   Sale of Assets                                          -
   Other                                             194,034
                                                ------------
      Total Receipts                              10,813,330

Disbursements
   Net payroll                                     1,092,129
   Payroll taxes paid                                393,374
   Sales, use & other taxes paid                      13,195
   Secured/rentals/leases                            270,981
   Utilities & telephone                             121,585
   Insurance                                       1,695,363
   Cost of goods sold                              7,336,652
   Vehicle expenses                                  154,645
   Travel & entertainment                             28,480
   Repairs, maintenance & supplies                   802,103
   Administrative & selling                        1,210,916
   Other                                           3,017,416
                                                ------------
Total Disbursements from operations               16,136,840

Professional fees                                    351,825
U.S. Trustee fees                                          -
Other reorganization expenses                              -
                                                ------------
      Total Disbursements                         16,488,665
                                                ------------
Net Cash Flow                                     (5,675,335)
                                                ------------
Cash, at the beginning of the month                7,848,529
                                                ------------
Cash, at the end of the month                     $2,173,193
                                                ============

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

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

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

Pacific Lumber, Scotia Pacific, and four other subsidiaries filed
for chapter 11 protection on Jan. 18, 2007 (Bankr. S.D. Tex. Case
Nos. 07-20027 through 07-20032).  Jack L. Kinzie, Esq., at Baker
Botts LLP, is Pacific Lumber's lead counsel.  Nathaniel Peter
Holzer, Esq., Harlin C. Womble, Jr., Esq., and Shelby A. Jordan,
Esq., at Jordan Hyden Womble Culbreth & Holzer PC, is Pacific
Lumber's co-counsel.  Kathryn A. Coleman, Esq., and Eric J.
Fromme, Esq., at Gibson, Dunn & Crutcher LLP, acts as Scotia
Pacific's lead counsel.  John F. Higgins, Esq., and James Matthew
Vaughn, Esq., at Porter & Hedges LLP, is Scotia Pacific's co-
counsel.  John D. Fiero, Esq., at Pachulski Stang Ziehl & Jones
LLP, represents the Official Committee of Unsecured Creditors.

When Pacific Lumber filed for protection from its creditors, it
listed estimated assets and debts of more than $100 million.
Scotia Pacific listed total assets of $932,000,000 and total debts
of $765,978,335.  The Debtors' exclusive period to file a chapter
11 plan expires on Sept. 18, 2007  (Scotia/Pacific Lumber
Bankruptcy News, Issue No. 26, http://bankrupt.com/newsstand/or  
215/945-7000).


PACIFIC LUMBER: Scotia Pacific Files July 2007 Operating Report
---------------------------------------------------------------

                     Scotia Pacific Company LLC
                     Consolidated Balance Sheet
                         As of July 31, 2007

ASSETS
Current Assets
   Cash
$52,456,387                
   Accounts receivable, net                        7,234,779         
   Inventory: lower cost or market                         -
   Prepaid expenses                                5,940,276
   Prepaid Restructuring                             839,671
   Investments                                             -
   Other                                             465,752
                                                ------------
      Total Current Assets                        66,936,865

Property, Plant & Equipment                      597,850,377
Less: Accumulated Depreciation                  (356,689,103)
                                                ------------
Net book value of property & plant               241,161,274
Other Assets
   Tax Deposits                                            -
   Investments in Subsidiaries                             -
   Electric Deposit                                        -
   Capitalized Expenses                           11,296,150
                                                ------------
      TOTAL ASSETS                              $319,394,289
                                                ============

LIABILITIES & OWNERS EQUITY  
Postpetition Liabilities
   Trade accounts payable                           $275,420
   Tax payable
      Federal payroll taxes                              857
      State payroll taxes                                623
      Ad valorem taxes                               105,000
      Other taxes                                    153,562
                                                ------------
          Total taxes payable                        260,042

      Secured debt postpetition                            -
      Accrued interest payable                    28,960,088
      Accrued professional fees                    6,795,150
      Other accrued liabilities
         Unsecured Debt                            1,375,494
         Payroll                                     352,828
         Other                                       234,961
                                                ------------

    Total Postpetition Liabilities                38,253,983

Prepetition Liabilities
   Notes payable - Secured                       767,290,648
   Priority debt                                     263,100
   Federal income tax                                      -
   FICA/ Withholding                                       -
   Unsecured debt                                  3,738,146
   Other                                             235,944
   Due to Affiliate/Parent                                 -
                                                ------------
       Total Prepetition Liabilities             771,527,838
                                                ------------
       Total Liabilities                         809,781,821

Owner's Equity (Deficit)
   Preferred Stock                                         -
   Common Stock                                   20,384,905
   Additional Paid-in Capital
179,838,186              
   Retained Earnings: Filing Date               (662,058,832)
   Retained Earnings: Post Filing Date           (28,551,791)
                                                ------------
Total Owner's Equity                            (490,387,532)
                                                ------------
TOTAL LIABILITIES & OWNERS EQUITY               $319,394,289
                                                ============     


                    Scotia Pacific Company LLC
                       Statement of Income
                 For the Period Ended July 31, 2007


Revenues                                          $5,336,190          
Total cost of revenues                             1,491,413       
                                                ------------
Gross Profit                                        3,844,77     
  
Operating Expenses
   Selling & Marketing                                     -     
   General & Administrative                          245,327
   Insiders Compensation                                   -
   Professional                                            -
   Idle Facilities                                         -
   Environmental                                           -
                                                ------------
       Total Operating Expenses                      245,327
                                                ------------
Income before interest, depreciation, tax          3,599,450
Interest Expense                                   5,005,562
Depreciation                                         875,248
Other (Income) Expenses                             (351,921)
Restructuring
   Professional Fees                               1,771,000
   Other                                               5,185
Amortization of Deferred Financing Costs                   -
Equity Loss (Earnings) in Subsidiary                       -
Total Interest, Depreciation & Other Items         7,305,074
                                                ------------     
Net Income Before Taxes                           (3,705,624)
Federal Income Tax                                         -
                                                ------------
Net Income (Loss)                                ($3,705,624)
                                                ============     


                  Scotia Pacific Company LLC
                Cash Receipts and Disbursements
                For the Month Ended July 31, 2007

Receipts
   Cash Sales                                             $0            
   Collection of Accounts Receivable                       -         
   Loans & Advances                                        -     
   Sale of Assets                                          -         

  Other
      Interest Income                                294,396     
      Log Sales                                    2,884,284
      Other                                            1,560     
                                                ------------
      Total Receipts                               3,180,240

Disbursements
   Net payroll                                       232,405
   Payroll taxes paid                                 84,443
   Sales, use & other taxes paid                     305,641
   Secured/rentals/leases                             22,910
   Utilities & telephone                                 210
   Insurance                                         128,726
   Cost of goods sold                                      -
   Vehicle expenses                                    1,468     
   Travel & entertainment                                  -
   Repairs, maintenance & supplies                     3,915
   Administrative & selling                          506,446
   Other                                                   -
                                                ------------
      Total Disbursements from operations          1,286,164

Professional fees                                    425,408
U.S. Trustee fees                                          -
Interest                                             260,446
Other reorganization expenses                          5,185
                                                ------------
       Total Disbursements                         1,977,203
                                                ------------     
Net Cash Flow                                      1,203,037
                                                ------------
Cash, at the beginning of the month               51,253,350
                                                ------------
Cash, at the end of the month                    $52,456,387
                                                ============

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

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

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

Pacific Lumber, Scotia Pacific, and four other subsidiaries filed
for chapter 11 protection on Jan. 18, 2007 (Bankr. S.D. Tex. Case
Nos. 07-20027 through 07-20032).  Jack L. Kinzie, Esq., at Baker
Botts LLP, is Pacific Lumber's lead counsel.  Nathaniel Peter
Holzer, Esq., Harlin C. Womble, Jr., Esq., and Shelby A. Jordan,
Esq., at Jordan Hyden Womble Culbreth & Holzer PC, is Pacific
Lumber's co-counsel.  Kathryn A. Coleman, Esq., and Eric J.
Fromme, Esq., at Gibson, Dunn & Crutcher LLP, acts as Scotia
Pacific's lead counsel.  John F. Higgins, Esq., and James Matthew
Vaughn, Esq., at Porter & Hedges LLP, is Scotia Pacific's co-
counsel.  John D. Fiero, Esq., at Pachulski Stang Ziehl & Jones
LLP, represents the Official Committee of Unsecured Creditors.

When Pacific Lumber filed for protection from its creditors, it
listed estimated assets and debts of more than $100 million.
Scotia Pacific listed total assets of $932,000,000 and total debts
of $765,978,335.  The Debtors' exclusive period to file a chapter
11 plan expires on Sept. 18, 2007  (Scotia/Pacific Lumber
Bankruptcy News, Issue No. 26, http://bankrupt.com/newsstand/or  
215/945-7000).


REFCO LLC: Chapter 7 Trustee Discloses July 2007 Operating Report
-----------------------------------------------------------------
Albert Togut, the Chapter 7 trustee overseeing the liquidation of
Refco, LLC's estate, delivered to the Court a monthly statement
of cash receipts and disbursements for the period from July 1 to
31, 2007, in lieu of comprehensive financial statements.

The Chapter 7 Trustee reports that Refco LLC's beginning balance
as of July 1 totals $167,526,000.  The Debtor's beginning
purchase price account balance totals $5,320,000, while its
beginning capital account "A" balance aggregates $162,206,000.

The purchase price account includes activity related to Man
Financial, Inc. sale proceeds and related disbursements.  Capital
account "A" includes activities related to collection of excess
capital.

Refco LLC received $313,000 and disbursed $314,000 during the
Reporting Period.  The Debtor held $167,525,000 at the end of the
period.

A full-text copy of Refco LLC's July 2007 Monthly Statement is
available at no charge at:

       http://bankrupt.com/misc/RefcoLLCMORJuly07.pdf

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

The Company and 23 of its affiliates filed for chapter 11
protection on Oct. 17, 2005 (Bankr. S.D.N.Y. Case No. 05-60006).
J. Gregory Milmoe, Esq., at Skadden, Arps, Slate, Meagher & Flom
LLP, represent the Debtors in their restructuring efforts.  Luc
A. Despins, Esq., at Milbank, Tweed, Hadley & McCloy LLP,
represents the Official Committee of Unsecured Creditors.  Refco
reported $16.5 billion in assets and $16.8 billion in debts
to the Bankruptcy Court on the first day of its chapter 11
cases.  

The Court confirmed the Modified Joint Chapter 11 Plan of
Refco Inc. and certain of its Direct and Indirect Subsidiaries,
including Refco Capital Markets, Ltd., and Refco F/X Associates,
LLC, on Dec. 15, 2006.  That Plan became effective on Dec. 26,
2007. (Refco Bankruptcy News, Issue No. 68; Bankruptcy Creditors'
Service Inc., http://bankrupt.com/newsstand/or 215/945-7000).


SEA CONTAINERS: Earns $8,467,259 in Month Ended July 31, 2007
-------------------------------------------------------------

                     Sea Containers, Ltd.
                    Unaudited Balance Sheet
                      As of July 31, 2007

                           Assets

Current Assets
   Cash and cash equivalents                    $32,754,852         
   Trade receivables, less allowances
     for doubtful accounts                          233,217       
   Due from related parties                       7,887,211
   Prepaid expenses and other current assets      1,660,226
                                               ------------      
      Total current assets                      $42,535,506

Fixed assets, net                                         -

Long-term equipment sales receivable, net                 -
Investments in group companies                  143,546,856      
Intercompany receivables                                  -
Investment in equity ownership interests        224,323,843
Other assets                                      4,197,434
                                               ------------      
Total assets                                   $414,603,639      
                                               ============

          Liabilities and Shareholders' Equity




Current Liabilities
   Accounts payable                              $7,261,450       
   Accrued expenses                              48,928,748      
   Current portion of long-term debt            171,141,012
   Current portion of senior notes              385,294,979
                                               ------------
      Total current liabilities                 612,626,189

Total shareholders' equity                     (198,022,550)
                                               ------------
Total liabilities and shareholders' equity     $414,603,639
                                               ============


                       Sea Containers, Ltd.
                 Unaudited Statement of Operations
                 For the Month Ended July 31, 2007

Revenue                                          $3,523,132       

Costs and expenses:
   Operating income                               3,902,253      
   Selling, general and
     administrative expenses                     (2,902,745)
   Professional fees                            (11,151,666)
   Charges to provide against
     intercompany accounts                      159,971,911
   Impairment of investment  
     in subsidiary companies                   (142,167,251)
   Depreciation and amortization
                                               ------------
      Total costs and expenses                    7,652,502
                                               ------------

Gain or (Loss) on sale of assets                          -
                                               ------------       
Operating income (loss)                          11,175,634

Other income (expense)
   Interest income                                  166,150
   Foreign exchange gains or (losses)               (44,121)
   Interest expense, net                         (2,730,404)
                                               ------------      
Income (Loss) before taxes                        8,567,259
Income tax expense                                 (100,000)
                                               ------------
Net Profit/(Loss)                                $8,467,259
                                               ============


                     Sea Containers Services
                     Unaudited Balance Sheet
                       As of July 31, 2007

                            Assets

Current Assets
   Cash and cash equivalents                        $89,026        
   Trade receivables                                 27,271      
   Due from related parties                       6,133,280
   Prepaid expenses and other current assets      4,560,805
                                               ------------
      Total current assets                       10,810,381

Fixed assets, net                                 2,440,054       

Investments                                       2,731,186
Intercompany receivables                         45,790,213
Other assets                                              0
                                               ------------      
Total assets                                    $61,771,834
                                               ============

             Liabilities and Shareholders' Equity

Current Liabilities
   Accounts payable                              $2,449,335
   Accrued expenses                               2,759,606      
   Current portion of long-term debt              1,689,177
                                               ------------
      Total current liabilities                   6,898,119

Total shareholders' equity                       54,873,716
                                               ------------
Total liabilities and shareholders' equity      $61,771,834
                                               ============


                     Sea Containers Services
                 Unaudited Statement of Operations
                 For the Month Ended July 31, 2007

Revenue                                          $2,576,582       

Costs and expenses:
   Operating costs                                        -      
   Selling, general and
     administrative expenses                       (424,323)
   Professional Fees                             (1,847,860)
   Other charges                                          0
   Depreciation and amortization                    (99,736)
                                               ------------      
     Total costs and expenses                    (2,371,919)
                                               ------------

Gains on sale of assets                                   -
                                               ------------
Operating income (loss)                             204,663

Other income (expense)
   Interest income                                       39
   Foreign exchange gains (losses)                        -
   Interest expense, net                            (11,930)
                                               ------------
Income (Loss) before taxes                          192,771
Income tax (charge)/credit                       (4,989,740)
                                               ------------
Net (Loss)/Income                               ($4,796,970)
                                               ============


Sea Containers Carribean, Inc., reported zero assets and accounts
payable of $3,530,094, as its sole liabilities in its July 2007
balance sheet.

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

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

Sea Containers Ltd. and two subsidiaries filed for chapter 11
protection on Oct. 15, 2006 (Bankr. D. Del. Case No. 06-11156).
Edmon L. Morton, Esq., Edwin J. Harron, Esq., Robert S. Brady,
Esq., Sean Matthew Beach, Esq., and Sean T. Greecher, Esq., at
Young, Conaway, Stargatt & Taylor, represent the Debtors in
their restructuring efforts.

The Official Committee of Unsecured Creditors and the Financial
Members Sub-Committee of the Official Committee of Unsecured
Creditors of Sea Containers Ltd. is represented by William H.
Sudell, Jr., Esq., and Thomas F. Driscoll, Esq., at Morris,
Nichols, Arsht & Tunnell LLP.  Sea Containers Services, Ltd.'s
Official Committee of Unsecured Creditors is represented by
attorneys at Willkie Farr & Gallagher LLP.

In its schedules filed with the Court, Sea Containers Ltd.
disclosed total assets of $62,400,718 and total liabilities of
$1,545,384,083.

The Court extended the Debtors' exclusive period to file a Plan
of Reorganization to Sept. 28, 2007.  (Sea Containers Bankruptcy
News, Issue No. 26; 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
the definitive compilation of stocks that are ideal to sell short.  
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR. Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com/

On Thursdays, the TCR delivers a list of recently filed chapter 11
cases involving less than $1,000,000 in assets and liabilities
delivered to nation's bankruptcy courts.  The list includes links
to freely downloadable images of these small-dollar petitions in
Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

For copies of court documents filed in the District of Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911.  For
bankruptcy documents filed in cases pending outside the District
of Delaware, contact Ken Troubh at Nationwide Research &
Consulting at 207/791-2852.

                             *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland,
USA.  Marie Therese V. Profetana, Shimero R. Jainga, Ronald C. Sy,
Joel Anthony G. Lopez, Cecil R. Villacampa, Jason A. Nieva,
Melanie C. Pador, Ludivino Q. Climaco, Jr., Loyda I. Nartatez,
Tara Marie A. Martin, John Paul C. Canonigo, Sheena R. Jusay, 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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