TCR_Public/071006.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, October 6, 2007, Vol. 11, No. 237

                             Headlines

AEGIS MORTGAGE: Files Schedules of Assets and Liabilities
ASARCO LLC: Earns $25,266,000 in Month Ended August 31, 2007
CALPINE CORP: Earns $40 Million in Month Ended August 31, 2007
CATHOLIC CHURCH: Davenport Files August 2007 Operating Report
COLLINS & AIKMAN: Posts $27,403,332 Net Loss in August 2007

DELPHI CORP: Posts $100 Million Net Loss in Month Ended August 31
DURA AUTOMOTIVE: Incurs $11.4 Million Net Loss in August 2007
FEDERAL-MOGUL: Posts Net Loss of $10.4 Million in August 2007
HOMEBANC CORP: Posts $106,893,000 Net Loss in Month Ended Aug. 31
PACIFIC LUMBER: Scotia Dev't. Files August 2007 Operating Report

PACIFIC LUMBER: ScoPac Files August 31 Monthly Operating Report

                             *********

AEGIS MORTGAGE: Files Schedules of Assets and Liabilities
---------------------------------------------------------
Aegis Mortgage Corporation submitted to the U.S. Bankruptcy Court
for the District of Delaware its schedules of assets and
liabilities, disclosing:

A.    Real Property                                       $0

B.    Personal Property                                     
B.1   Cash on Hand                                         0
B.2   Financial Accounts
       AMC Operating Account                         652,888
       Countrywide                                    69,217
       Prime Buydown                               4,387,672
       UBS                                         1,212,380
       Operating Account                           8,415,001
       Payroll Account                                14,237
B.3   Security Deposits                                    0
B.4   Household Goods and Furnishings                      0
B.5   Books, pictures & other art objects                  0
B.6   Wearing apparel                                      0
B.7   Furs and jewelry                                     0
B.8   Firearms, sports & other hobby equipment             0
B.9   Interests in insurance policies                Unknown
B.10  Annuities                                            0
B.11  Interests in education IRA                           0
B.12  Interest in pension, profit sharing plan             0
B.13  Stock & Interests                                    0
B.14  Interests in partnerships, joint ventures      Unknown
B.15  Gov't. & corporate bonds, etc.                       0
B.16  Accounts Receivable                         31,882,823
B.17  Alimony & property settlements                       0
B.18  Liquidated debts owed to debtor
                                     [face amount: 5,850,414]
B.19  Other equitable interests                            0
B.20  Investment in deferred compensation                  0
B.21  Derivative asset                                      
        Tax refund due 2008            [estimated: 6,200,000]
        Various tax refunds and overpayments          94,942
        Vendor credit balances                        66,742
        Collateral held by lenders                78,398,429
B.22  Intellectual property                     Undetermined
B.23  Licenses, franchises and others                      0
B.24  Customer list                                        0
B.25  Vehicles & accessories                               0
B.26  Boats, motors & accessories                          0
B.27  Aircraft & accessories                               0
B.28  Office equipment, furnishings, supplies
        Ocwen Real Servicing Platform              1,727,090
        Others (including machinery, fixtures)    10,715,920
B.29  Inventory                                            0
B.30  Animals                                              0
B.31  Crops                                                0
B.32  Farming equipment & implements                       0
B.33  Farm supplies, chemicals & feed                      0
B.34  Other personal property                              0

      TOTAL SCHEDULED ASSETS                    $138,265,342
      ======================================================

C.    Property Claimed as Exempt              Not applicable

D.    Creditors Holding Secured Claims
        Residential Funding Corporation         Unliquidated
        Countrywide                             Unliquidated

E.    Creditors Holding Unsecured
      Priority Claims                               $743,334
        plus unliquidated values to
        be determined

F.    Creditors Holding Unsecured
      Nonpriority Claims
        Bain & Company, Inc.                       1,125,000
        Reserve at Westchase, LP                     114,133
        Ocwen Loan Servicing                          83,553
        Katmore Realty Ten, Ltd.                      97,131
        Interactive Intelligence, Inc.                75,731
        Others                                     1,886,585

      TOTAL SCHEDULED LIABILITIES                 $4,125,470
      ======================================================

The liquidated debts owed to the Debtor with face amount of  
$5,850,414 and tax refund due 2008 estimated to be $6,200,000
were excluded from the computation of the Debtor's total assets.

                       About Aegis Mortgage

Headquartered in Houston, Texas, Aegis Mortgage Corporation --
http://www.aegismtg.com/-- offers a variety of mortgage loan
products to brokers through its subsidiaries.

The company together with 10 affiliates filed for chapter 11
protection on Aug. 13, 2007 (Bankr. D. Del. Case No. 07-11119)
Curtis A. Hehn, Esq., James E. O'Neill, Esq., Laura Davis Jones,
Esq., and Timothy P. Cairns, Esq., at Pachulski, Stang, Ziehl,
Young, Jones and Weintraub, L.L.P., serve as counsel to the
Debtors.  When the Debtors filed for bankruptcy, they
listed assets and debts of more than $100 million.

The Debtors' exclusive period to file a plan expires on
Dec. 11, 2007.  Aegis Bankruptcy News, Issue No. 7, Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/        
or 215/945-7000).


ASARCO LLC: Earns $25,266,000 in Month Ended August 31, 2007
------------------------------------------------------------

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

ASSETS
   Current Assets:
   Cash                                           $722,812,000
   Restricted Cash                                  27,648,000
   Accounts receivable, net                        127,889,000
   Inventory                                       265,874,000
   Prepaid expenses                                  3,496,000
   Other current assets                             28,034,000
                                               ---------------
Total Current Assets                             1,175,753,000

Net property, plant and equipment                  455,508,000
Other Assets
   Investments in subs                             104,597,000
   Advances to affiliates                              390,000
   Prepaid pension & retirement plan                         0
   Non-current deferred tax asset                   40,951,000
   Other                                            99,530,000
                                               ---------------
Total assets                                    $1,876,729,000
                                               ===============

LIABILITIES
   Postpetition liabilities:
   Accounts payable                                $48,514,000
   Accrued liabilities                             195,842,000
   Debtor-in-possession financing                            0
                                               ---------------
Total postpetition liabilities                     244,356,000

Prepetition liabilities:
Not subject to compromise - credit                   4,279,000
Not subject to compromise - other                   85,296,000
Advances from affiliates                            24,648,000
Subject to compromise                            1,498,887,000
                                               ---------------
Total prepetition liabilities                    1,613,110,000
                                               ---------------
Total liabilities                               $1,857,466,000
                                               ===============

OWNERS' EQUITY (DEFICIT)
Common stock                                       508,325,000
Additional paid-in capital                         104,578,000
Other comprehensive income                        (262,249,000)
Retained earnings: filing date                  (1,062,099,000)
                                               ---------------
Total prepetition owners' equity                  (711,446,000)
Retained earnings: post-filing date                730,709,000
                                               ---------------
Total owners' equity (net worth)                    19,263,000
                                               ---------------
Total liabilities and owners' equity            $1,876,729,000
                                               ===============

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

Sales                                             $139,882,000
Cost of products and services                       91,271,000
                                               ---------------
Gross profit                                        48,610,000
Operating expenses:
Selling and general & admin expenses                 3,766,000
Depreciation & amortization                          3,299,000
Provision accretion expense of asset
   retirement obligation                               163,000
                                               ---------------
Operating income                                    41,382,000
Interest expense                                       608,000
Interest income                                     (3,763,000)
Reorganization expenses                              9,043,000
Other miscellaneous (income) expenses               (5,838,000)
                                               ---------------
Income (loss) before taxes                          41,332,000
Income taxes                                        16,066,000
                                               ---------------
Net income (loss)                                  $25,266,000
                                               ===============

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

Receipts                                          $166,500,000
Disbursements:
Inventory material                                  58,400,000
Operating disbursements                             61,066,000
Capital expenditures                                 3,920,000
                                               ---------------
Total disbursements                                123,386,000

Operating cash flow                                 43,144,000
Reorganization disbursements                         6,629,000
                                               ---------------
Net cash flow                                      [36,515,000]

Net payments to secured Lenders                              0
                                               ---------------
Net change in cash                                  36,515,000
Beginning cash balance                             713,974,000
                                               ---------------
Ending cash balances                             [$750,489,000]
                                               ===============

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 Nov. 12,
2007.  (ASARCO Bankruptcy News, Issue No. 55; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000).


CALPINE CORP: Earns $40 Million in Month Ended August 31, 2007
--------------------------------------------------------------

                       Calpine Corporation
              Consolidated Condensed Balance Sheet
                      As of August 31, 2007

                             ASSETS

Current assets:
   Cash and cash equivalents                    $1,395,000,000
   Accounts receivable, net                      1,134,000,000
   Inventories                                     111,000,000
   Margin deposits and other prepaid expense       452,000,000
   Restricted cash, current                        373,000,000
   Current derivative assets                       212,000,000
   Assets held for sale                            380,000,000
   Other current assets                             56,000,000
                                               ---------------
Total current assets                             4,113,000,000

Property, plant and equipment, net              12,691,000,000
Restricted cash, net of current portion            148,000,000
Investments                                        262,000,000
Long-term derivative assets                        277,000,000
Other assets                                       976,000,000
                                               ---------------
Total assets                                   $18,467,000,000
                                               ===============

              LIABILITIES AND STOCKHOLDERS' DEFICIT

Current liabilities:
   Accounts payable                               $758,000,000
   Accrued interest payable                        202,000,000
   Debt, current                                 4,882,000,000
   Current derivative liabilities                  246,000,000
   Income taxes payable                             38,000,000
   Liabilities held for sale                       276,000,000
   Other current liabilities                       387,000,000
                                               ---------------
Total current liabilities                        6,789,000,000

Debt, net of current portion                     3,131,000,000
Deferred income taxes, net of current portion      597,000,000
Long-term derivative liabilities                   409,000,000
Long-term liabilities                              281,000,000
                                               ---------------
Total liabilities not subject to compromise     11,207,000,000
Liabilities subject to compromise               15,354,000,000

Minority interests                                   8,000,000

Stockholders' equity (deficit):
   Common stock                                      1,000,000
   Additional paid-in capital                    3,270,000,000
   Additional paid-in capital, loaned shares        22,000,000
   Additional paid-in capital, returnable shares   (22,000,000)
   Accumulated deficit                         (11,324,000,000)
   Accumulated other comprehensive loss            (49,000,000)
                                               ---------------
Total stockholders' deficit                      8,102,000,000

Total liabilities and stockholders' deficit    $18,467,000,000
                                               ===============


                       Calpine Corporation
         Consolidated Condensed Statement of Operations
              For the period ending August 31, 2007

Revenue:
   Electricity and steam revenue                  $647,000,000
   Sales of purchased power and gas
      for hedging and optimization                 201,000,000
   Mark-to-market activities, net                    9,000,000
   Other revenue                                     3,000,000
                                                 -------------
Total revenue                                      860,000,000

Cost of revenue:
   Plant operating expense                          59,000,000
   Purchased power and gas expense
      for hedging and optimization                 164,000,000
   Fuel expense                                    415,000,000
   Depreciation & amortization expense              38,000,000
   Operating plant impairments                               0
   Operating lease expense                           5,000,000
   Other cost of revenue                            11,000,000
                                                 -------------
Total cost of revenue                              692,000,000

Gross profit (loss)                                168,000,000
Equipment, development project & other impairments           0
Sales, general and administrative expense           11,000,000
Other operating expenses                             3,000,000
                                                 -------------
Income (loss) from operations                      154,000,000
Interest expense                                    95,000,000
Interest (income)                                   (5,000,000)
Minority interest expense                                    0
Other (income) expense, net                         (9,000,000)
                                                 -------------
Income (loss) before reorganization items
   & provision (benefit) for income taxes           73,000,000
Reorganization items                                27,000,000
                                                 -------------
Income before provision for income taxes            46,000,000
Provision for income taxes                           6,000,000
                                                 -------------
Net income                                         $40,000,000
                                                 =============

Based in San Jose, California, Calpine Corporation (OTC Pink
Sheets: CPNLQ) -- http://www.calpine.com/-- supplies customers    
and communities with electricity from clean, efficient, natural
gas-fired and geothermal power plants.  Calpine owns, leases and
operates integrated systems of plants in 21 U.S. states and in
three Canadian provinces.  Its customized products and services
include wholesale and retail electricity, gas turbine components
and services, energy management and a wide range of power plant
engineering, construction and maintenance and operational
services.

The company filed for chapter 11 protection on Dec. 20, 2005
(Bankr. S.D.N.Y. Lead Case No. 05-60200).  Richard M. Cieri, Esq.,
Matthew A. Cantor, Esq., Edward Sassower, Esq., and Robert G.
Burns, Esq., Kirkland & Ellis LLP represent the Debtors in their
restructuring efforts.  Michael S. Stamer, Esq., at Akin Gump
Strauss Hauer & Feld LLP, represents the Official Committee of
Unsecured Creditors.  As of Dec. 19, 2005, the Debtors listed
$26,628,755,663 in total assets and $22,535,577,121 in total
liabilities.

On Sept. 25, 2007, the Court approved the adequacy of the Debtors'
Disclosure Statement explaining their plan.  The hearing to
consider confirmation of that Plan is set for Dec. 18, 2007.  
(CALPINE Bankruptcy News, Issue No. 63; Bankruptcy Creditors'
Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000).


CATHOLIC CHURCH: Davenport Files August 2007 Operating Report
-------------------------------------------------------------

                  Diocese of Davenport in Iowa
                 Statement of Financial Position
                      As of August 31, 2007

ASSETS

Current Assets
   Cash and cash equivalents - unrestricted           $5,644,142
   Cash and cash equivalents - restricted              2,575,421
   Accounts receivable, net                              334,757
   Inventory                                                   -
   Prepaid expenses                                          689
   Professional retainers                                 55,652
                                                  --------------
Total Current Assets                                   8,610,661
                                                  --------------
Property and Equipment
   Real Property                                       4,163,800
   Machinery and equipment                                 6,000
   Furniture and fixtures                                  8,914
   Office equipment                                       59,500
   Leasehold improvements                                      -
   Vehicles                                               45,460
                                                  --------------
Total Property and Equipment                           4,283,674
                                                  --------------
Total Assets                                         $12,894,335
                                                  ==============

LIABILITIES AND NET ASSETS

Postpetition
   Current Liabilities:
      Salaries and wages                                       -
      Payroll taxes                                            -
      Real and personal property taxes                         -
      Income taxes                                             -
      Sales taxes                                              -
      Notes payable, short term                                -
      Accounts payable, trade                         $5,356,573
      Real property lease arrearage                            -
      Personal property lease arrearage                        -
      Accrued professional fees                                -
      Current portion of long-term debt                        -
      Pass-through collections                            18,721
      Additional Accrued Vacations                         5,574
                                                  --------------
   Total Current Liabilities                           5,380,868
                                                  --------------
   Long-Term Postpetition Debt, Net                            -
                                                  --------------
   Total Postpetition Liabilities                      5,380,868
                                                  --------------
   Prepetition
      Secured claims                                           -
      Priority unsecured claims                          160,888
      General unsecured claims                         1,655,316
                                                  --------------
   Total Prepetition Liabilities                       1,816,204
                                                  --------------
      Total Liabilities                                7,197,072
                                                  --------------
Equity (deficit):
   Retained earnings/deficit at filing                 5,855,424
   Capital stock                                               -
   Additional paid-in capital                                  -
   Cumulative profit/loss since filing                (3,722,964)
   Post-petition contributions/distributions
      or draws                                                 -
   Market value adjustment                             3,564,803
                                                  --------------
   Total equity (deficit)                              5,697,263
                                                  --------------
Total liabilities & equity (deficit)                 $12,894,335
                                                  ==============


                  Diocese of Davenport in Iowa
                     Statement of Operations
              For the month ending August 31, 2007

Revenues
   Gross sales                                              $206
   Less: sales returns & allowances                            -
   Net sales                                                 206
   Less: cost of goods sold                                    -
   Gross profit                                              206
   Interest                                                2,730
   Other income:
      Charitable gifts                                    15,438
      Insurance receipts                                 129,081
      Investment income                                   41,783
                                                  --------------
        Total revenues                                   189,238
                                                  --------------
Expenses:
   Compensation to owner(s)/officer(s)                    12,209
   Salaries                                              102,704
   Commissions                                                 -
   Contract labor                                          4,653
   Rent/Lease:
      Personal property                                      100
      Real property                                            -
   Insurance                                             239,211
   Management fees                                             -
   Depreciation                                            5,255
   Taxes:
      Employer payroll taxes                               6,484
      Real property taxes                                      -
      Other taxes                                              -
   Other selling                                               -
   Other administrative                                   65,532
   Interest                                                    -
   Other expenses:
      Employee benefits                                   26,235
      Charity collection                                  12,406
      Medical assistance/Victim assistance                 2,310
      Utilities                                            6,023
      Transfer to unrestricted                                 -
      Professional fees                                      616
      Sabbatical                                               -
      Cemetery perpetual care                                  -
                                                  --------------
         Total expenses                                  483,738
                                                  --------------
   Reorganization items:
      Professional fees                                        -
      Estimate of claims payments                              -
      Interest earned on accumulated cash
         from resulting Chapter 11 case                   22,457
      Gain or (Loss) from sale of equipment                    -
      U.S. Trustee quarterly fees                              -
      Advertising/printing/mailing                             -
                                                  --------------
         Total reorganization items                       22,457
                                                  --------------
Net profit (loss) before federal &
   state taxes                                          (272,043)
   Federal & state income taxes                                -
                                                  --------------
Net profit (loss)                                      ($272,043)
                                                  ==============


                  Diocese of Davenport in Iowa
          Statement of Cash Receipts and Disbursements
              For the month ending August 31, 2007

Cash receipts
   Rent/Leases collected                                  $3,625
   Cash received from sales                                  206
   Interest received                                      25,187
   Borrowings increase in accounts payable                     -
   Funds from shareholders, partners,
      or other insiders (Sale of property)                     -
   Capital contributions                                       -
   Annual diocesan appeal/donations                       15,438
   Investment income/misc.                                     -
   Insurance receipts                                    129,081
   Tribunal/Immigration/Faith Formation fees              38,158
   Decrease in prepaids/accounts receivable              222,489
   Misc./Increase in accounts payable                          -
                                                  --------------
   Total Cash Receipts                                   434,184

Cash disbursements:
   Payments for inventory                                      -
   Selling                                                     -
   Administrative                                         81,926
   Capital expenditures                                      997
   Principal payments on debt                                  -
   Interest paid                                               -
   Rent/Lease:
      Personal Property                                      100
      Real Property                                            -
   Amount paid to owner(s)/officer(s)
      Salaries                                            12,209
      Draws                                                    -
      Commissions/Royalties                                    -
      Expense Reimbursements                                 284
      Other                                                    -
   Salaries/Commissions (less employee
      withholding                                         78,908
   Management fees                                             -
   Taxes
      Employee withholding                                23,796
      Employer payroll taxes                               6,484
      Real property taxes                                      -
      Other taxes                                              -
   Other cash outflows:
      Insurance                                          239,211
      Utilities                                            6,023
      Medical Assistance                                   2,310
      Employee benefits                                   26,235
      Misc                                               137,800
                                                  --------------
   Total Cash Disbursements                              616,283
                                                  --------------
Net increase (decrease) in cash                         (182,099)

Cash balance, beginning of period                      2,119,643

Cash balance, end of period                           $1,937,544
                                                  ==============

The Diocese of Davenport in Iowa filed for chapter 11 protection
(Bankr. S.D. Ia. Case No. 06-02229) on October 10, 2006.  Richard
A. Davidson, Esq., at Lane & Waterman LLP, represents the
Davenport Diocese in its restructuring efforts.  Hamid R.
Rafatjoo, Esq., and Gillian M. Brown, Esq., of Pachulski Stang
Zhiel Young Jones & Weintraub LLP represent the Official Committee
of Unsecured Creditors.  In its schedules of assets and
liabilities, the Davenport Diocese reported $4,492,809 in assets
and $1,650,439 in liabilities.  (Catholic Church Bankruptcy News,
Issue No. 103; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


COLLINS & AIKMAN: Posts $27,403,332 Net Loss in August 2007
-----------------------------------------------------------   

                   Collins & Aikman Corporation  
                          Balance Sheet  
                      As of August 31, 2007  
  
                              ASSETS  
  
Cash                                               $287,143,339  
Accounts receivable-trade, net                      125,427,294
Other non-trade receivables                           7,397,507
Inventories, net                                     22,751,493
Tooling and molding, net-current                     26,671,312
Prepaids & other current assets                      20,317,945
Deferred tax assets-current                                   0
                                                ---------------  
TOTAL CURRENT ASSETS                                489,708,890
  
Investments in subsidiaries                       2,479,293,518
Fixed assets, net                                   146,252,923
Goodwill, net                                        59,622,121
Deferred tax assets-long term                                 0
Tooling and molding, net-long term                    1,515,939
Other noncurrent assets                              24,688,944
Intercompany accounts - net                          50,372,177
Prepetition intercompany - net                      633,676,975
                                                ---------------  
TOTAL ASSETS                                     $3,885,131,488
                                                ===============  
  
                       LIABILITIES & EQUITY  
  
Notes payable                                                $0  
Short term borrowings                                         0
Advance on receivables                                        0
Current portion-long term debt                      111,060,000
Current portion-capital leases                                0
Accounts payable                                     37,697,376
Accrued interest payable                            100,441,287
Accrued & other liabilities                          76,765,701
Income taxes payable                                  4,689,864
                                                ---------------  
Total current liabilities                           330,654,228
  
Liabilities subject to compromise                 2,402,845,272
Deferred income taxes                                30,472,400
                                                ---------------  
Total liabilities                                 2,763,971,900
  
Total equity                                      1,121,159,588
                                                ---------------  
TOTAL LIABILITIES & EQUITY                       $3,885,131,488
                                                ===============  
  
  
                  Collins & Aikman Corporation  
                        Income Statement  
                  Month Ended August 31, 2007  
  
Net outside sales                                   $71,018,129  
I/C Net sales                                        (4,227,509)
                                                ---------------  
Total sales                                          66,790,620
  
Cost of Sales                                        72,709,138
                                                ---------------  
Gross profit                                         (5,918,518)
  
Selling, general & administrative expenses            6,815,022
                                                ---------------  
Operating income                                    (12,733,540)
  
Interest expenses, net                                7,096,668
Intercompany interest, net                           (3,513,622)
Preferred stock accretion                                     0
Miscellaneous (income)/expense                                0
Corporate allocation adjustment                               0
Commission income                                      (230,022)
Commission expense                                            0
Royalty income                                         (510,184)
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                             (18,193,018)
Asset Impairment                                     30,300,379
Foreign transactions - (Gain)/Loss                     (326,269)
Amort of discount on NPV of liabilities                       0
(Gain)/Loss on sale-leaseback transaction                     0
                                                ---------------  
Income from continuing operations before taxes      (27,357,472)
  
Federal income tax                                            0
State income tax                                              0
Foreign income tax                                       30,670
                                                ---------------  
Income from continuing operations                   (27,388,142)
  
Discontinued operations                                  15,190
Gain/Loss on sale of divisions                                0
Extraordinary items                                           0
Integration                                                   0
                                                ---------------  
NET INCOME (LOSS)                                  ($27,403,332)
                                                ===============  

Headquartered in Troy, Mich., 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 Debtors 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.

On Aug. 30, 2006, the Debtors filed a Joint Chapter 11 Plan and a
Disclosure Statement explaining that plan.  On Dec. 22, 2006, they
filed an Amended Plan and on Jan. 22, 2007, filed a modified
Amended Plan.  On Jan. 25, 2007, the Court approved the adequacy
of the Disclosure Statement.  On July 18, 2007, the Court
confirmed the Debtors' Liquidation Plan.  The Debtors' cases are
set to be closed on Feb. 28, 2008.  (Collins & Aikman Bankruptcy
News, Issue No. 75; Bankruptcy Creditors' Service Inc.;
http://bankrupt.com/newsstand/or 215/945-7000)


DELPHI CORP: Posts $100 Million Net Loss in Month Ended August 31
-----------------------------------------------------------------

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

                              ASSETS

Current assets:
   Cash and cash equivalents                                $20
   Restricted cash                                          138
   Accounts receivable, net:
      General Motors and affiliates                       1,545
      Other third parties                                   972
      Non-Debtor affiliates                                 367
   Notes receivable from non-Debtor affiliates              292
   Inventories, net:
      Productive material, work-in-process & supplies       862
      Finished goods                                        249
   Other current assets                                     226
                                                       --------
      TOTAL CURRENT ASSETS                                4,671

Long-term assets:
   Property, net                                          1,819
   Investment in affiliates                                 362
   Investments in non-Debtor affiliates                   3,936
   Goodwill                                                 152
   Other intangible assets                                   28
   Other                                                    301
                                                       --------
      TOTAL LONG-TERM ASSETS                              6,598
                                                       --------
TOTAL ASSETS                                            $11,269
                                                       ========

              LIABILITIES AND STOCKHOLDERS' DEFICIT

Current liabilities not subject to compromise:
   Debtor-in-possession financing                        $3,105
   Accounts payable                                       1,261
   Accounts payable to non-Debtor affiliates                623
   Accrued liabilities                                      763
   Notes payable to non-Debtor affiliates                   131
                                                       --------
   TOTAL CURRENT LIABILITIES                              5,883

Long-term liabilities not subject to compromise:
   Employee benefit plan obligations and other              707

Liabilities subject to compromise                        18,216
                                                       --------
   TOTAL LIABILITIES                                     24,806

Stockholders' deficit:
   Common stock                                               6
   Additional paid-in capital                             2,779
   Accumulated deficit                                  (13,534)
   Accumulated other comprehensive loss                  (2,736)
   Treasury stock, at cost (3.2 million shares)             (52)
                                                       --------
   TOTAL STOCKHOLDERS' DEFICIT                          (13,537)
                                                       --------
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT             $11,269
                                                       ========


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

Net sales:
   General Motors and affiliates                           $925
   Other customers                                          554
   Non-Debtor affiliates                                     45
                                                       --------
Total net sales                                           1,524
                                                       --------
Operating expenses:
   Cost of sales                                          1,463
   Long-lived asset impairment charges                        -
   Securities & ERISA litigation charge                      21
   Depreciation and amortization                             41
   Selling, general and administrative                       93
                                                       --------
Total operating expenses                                  1,618
                                                       --------
Operating loss                                              (94)

Interest expense                                            (24)
Loss on extinguishment of debt                                -
Other (expense) income, net                                  16

Reorganization items                                        (14)
Income tax benefit (expense)                                  -
Equity income from non-consolidated affiliates                1
Equity income from non-Debtor affiliates                     15
                                                       --------
NET LOSS                                                  ($100)
                                                       ========


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

Cash flows from operating activities:
   Net loss                                               ($100)
   Adjustments to reconcile net loss
    to net cash provided by operating activities:
    Depreciation and amortization                            41
    Deferred income taxes                                    (1)
    Pension and other postretirement benefit expenses        78
    Equity income from unconsolidated affiliates             (1)
    Equity income from non-Debtor affiliates                (15)
    Reorganization items                                     14
    Securities & ERISA litigation charges                    21
   Changes in operating assets and liabilities:
    Accounts receivable, net                                (84)
    Inventories, net                                         17
    Other assets                                              8
    Accounts payable, accrued and other long-term debts     (98)
    U.S. employee special attrition program                 (14)
    Other postretirement benefit payments                   (20)
    Pension contributions                                    (1)
    Payments for reorganization items                       (11)
    Other                                                    (2)
                                                       --------
Net cash used in operating activities                      (168)

Cash flows from investing activities:
   Capital expenditures                                     (22)
   Increase in restricted cash                              (28)
   Other                                                      4
                                                       --------
Net cash used in investing activities                       (46)

Cash flows from financing activities:
   Net proceeds from DIP facility                            75
   Net repayments of borrowings under other debt pacts      131
   Other                                                     (2)
                                                       --------
Net cash used in financing activities                       204
                                                       --------
Decrease in cash and cash equivalents                       (10)
Cash and cash equivalents at beginning of period             30
                                                       --------
Cash and cash equivalents at end of period                  $20
                                                       ========

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.    
(Delphi Bankruptcy News, Issue No. 87 Bankruptcy Creditors'
Service Inc., http://bankrupt.com/newsstand/or 215/945-7000).  


DURA AUTOMOTIVE: Incurs $11.4 Million Net Loss in August 2007
-------------------------------------------------------------

        Dura Automotive Systems, Inc., and Subsidiaries
        Condensed Unaudited Consolidated Balance Sheet
                     As of August 26, 2007
                     (Dollars in thousands)

                             ASSETS

Current Assets:
  Cash and cash equivalents                             $13,597
  Accounts receivable, net
     Trade                                              134,255
     Other                                               10,929
     Non-Debtor subsidiaries                             28,934
  Inventories                                            81,955
  Other current assets                                   37,163
                                                     ----------
     Total current assets                               306,803


Property, plant and equipment, net                      164,318
Goodwill, net                                           249,927
Notes receivable from Non-Debtors subsidiaries          184,198
Investment in Non-Debtors subsidiaries                  790,647
Other noncurrent assets                                  25,179
                                                     ----------
Total Assets                                         $1,721,072
                                                     ==========

             LIABILITIES AND STOCKHOLDERS' INVESTMENT

Current liabilities:
  Debtors-in-possession financing                      $249,130
  Accounts payable                                       54,525
  Accounts payable to Non-Debtors subsidiaries            1,377
  Accrued Liabilities                                    84,759
                                                     ----------
     Total current liabilities                          389,791

Long-term Liabilities:
  Notes Payable to Non-Debtors subsidiaries               8,812
  Other noncurrent liabilities                           60,742
Liabilities Subject to Compromise                     1,312,352
                                                     ----------
Total Liabilities                                     1,771,697

Stockholders' Investment                                (50,625)
                                                     ----------
Total Liabilities and Stockholders' Investment       $1,721,072
                                                     ==========


       Dura Automotive Systems, Inc., and Subsidiaries
  Condensed Unaudited Consolidated Statement of Operations
            For the Four Weeks Ended August 26, 2007
                     (Dollars in thousands)

Total sales                                             $83,342
Cost of sales                                            80,238
                                                     ----------
Gross (loss) profit                                       3,104

Selling, general and administrative expenses              5,627
Facility consolidation, asset impairment
  and other charges                                         452
Amortization expense                                         34
                                                     ----------
Operating (loss) income                                  (3,009)

Interest expense, net                                     3,749
                                                     ----------
Loss before reorganization items and income taxes        (6,758)

Reorganization items                                      4,637
                                                     ----------
Income before income taxes                              (11,395)

Provision for income taxes                                   12
                                                     ----------
Net Income (Loss)                                      ($11,407)
                                                     ==========


       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)                                      ($11,407)
Adjustments to reconcile net loss to net cash used
  in operations activities:
     Depreciation, amortization & asset impairment        2,468
     Amortization of deferred financing fees                708
     (Gain)/Loss on sale of assets                           61
     Reorganization items                                 4,637
Changes in other operating items:
  Accounts receivable                                   (14,749)
  Inventories                                             2,284)
  Other current assets                                      541
  Noncurrent assets                                         245
  Accounts payable                                        7,293
  Accrued liabilities                                    (1,163)
  Noncurrent liabilities                                   (227)  
  Current intercompany transactions                       5,057
                                                     ----------
Net cash provided by operating activities                (4,249)   

Investing Activities:
Purchases of property, plant & equipment                 (1,332)
Proceeds from sales of assets                              
                                                     ----------
Net cash (used in) provided by
   investing activities                                  (1,332)

Financing Activities:
DIP borrowings                                           12,474
Payments on Prepetition Date                               (303)
                                                     ----------
Net cash provided by financing activities                12,171
Net Increase (Decrease) in Cash & Equivalents             6,590

Cash & Cash Equivalent, Beginning Balance                 7,007
                                                     ----------
Cash & Cash Equivalent, Ending Balance                  $13,597
                                                     ==========

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.

The Debtors' exclusive plan-filing period expired on Sept. 30,
2007.  Confirmation hearing of the plan will begin on Nov. 26,
2007.  (Dura Automotive Bankruptcy News, Issue No. 32 Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or
215/945-7000).


FEDERAL-MOGUL: Posts Net Loss of $10.4 Million in August 2007
-------------------------------------------------------------

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

                              Assets

Cash and equivalents                                      $52.3
Accounts receivable                                       599.8
Inventories                                               400.7
Deferred taxes                                            192.5
Prepaid expenses and other current assets                 108.2
                                                       --------
Total current assets                                    1,353.4

Summary of Unpaid Postpetition Debits                      24.8
Intercompany Loans Receivable (Payable)                 1,678.2
                                                       --------
Intercompany Balances                                   1,703.0

Property, plant and equipment                             766.4
Goodwill                                                  930.5
Other intangible assets                                   340.1
Insurance recoverable                                     880.2
Other non-current assets                                  521.2
                                                       --------
Total Assets                                           $6,494.9
                                                       ========

               Liabilities and Shareholders' Equity

Short-term debt                                          $708.1
Accounts payable                                          239.9
Accrued compensation                                       62.4
Restructuring and rationalization reserves                 17.0
Current portion of asbestos liability                         -
Interest payable                                            3.8
Other accrued liabilities                                 261.0
                                                       --------
Total current liabilities                               1,292.2

Long-term debt                                                -
Post-employment benefits                                  725.1
Other accrued liabilities                                 546.5
Liabilities subject to compromise                       5,456.9

Shareholders' equity:
   Preferred stock                                      1,050.6
   Common stock                                           662.1
   Additional paid-in capital                           7,997.3
   Accumulated deficit                                (11,424.1)
   Accumulated other comprehensive income                 188.4
   Other                                                      -
                                                       --------
Total Shareholders' Equity                             (1,525.7)
                                                       --------
Total Liabilities and Shareholders' Equity             $6,494.9
                                                       ========


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

Net sales                                                $283.8
Cost of products sold                                     236.1
                                                       --------
Gross margin                                               47.6

Selling, general & administrative expenses                (44.6)
Amortization                                               (1.2)
Reorganization items                                       (4.2)
Interest income (expense), net                            (16.3)
Other income (expense), net                                 8.4
                                                       --------
Earnings before Income Taxes                              (10.2)

Income Tax (Expense) Benefit                               (0.2)
                                                       --------
Earnings before cumulative effect of change
   in accounting principle                                (10.4)
                                                       --------
Net Earnings (loss)                                      ($10.4)
                                                       ========


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

Cash Provided From (Used By) Operating Activities:
   Net earning (loss)                                    ($10.4)
Adjustments to reconcile net earnings (loss) to net cash:
   Depreciation and amortization                           15.1
   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                       0.4
   Decrease (increase) in accounts receivable              (3.6)
   Decrease (increase) in inventories                      11.9
   Increase (decrease) in accounts payable                 (5.5)
   Change in other assets & other liabilities             (33.3)
   Change in restructuring charge                             -
   Refunds (payments) against asbestos liability              -
                                                       --------
Net Cash Provided From Operating Activities               (25.2)

Cash Provided From (Used By) Investing Activities:
   Expenditures for property, plant & equipment            (6.6)
   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      (6.6)

Cash Provided From (Used By) Financing Activities:
   Increase (decrease) in debt                             25.1
   Sale of accounts receivable under securitization           -
   Dividends                                                  -
   Other                                                   (0.1)
                                                       --------
Net Cash Provided From Financing Activities                25.0

Increase (Decrease) in Cash and Equivalents                (6.8)

Cash and equivalents at beginning of period                59.1
                                                       --------
Cash and equivalents at end of period                     $52.3
                                                       ========

Based 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.  The Debtors 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 began on June 18, 2007.  The Court
heard closing arguments regarding confirmation of the Plan on
October 1 and 2, 2007.  The Debtors proposed certain modifications
to the Plan at the end of closing arguments on Oct. 2.  The
Debtors officially filed the Plan Modifications, together with a
revised Proposed Order confirming the Plan, on Oct. 4.  (Federal-
Mogul Bankruptcy News, Issue No. 147; Bankruptcy Creditors'
Service Inc., http://bankrupt.com/newsstand/or 215/945-7000).  


HOMEBANC CORP: Posts $106,893,000 Net Loss in Month Ended Aug. 31
-----------------------------------------------------------------

          HomeBanc Mortgage Corporation and Subsidiaries
               Unaudited Consolidated Balance Sheet
                      As of August 31, 2007

                              ASSETS

Cash                                                 $9,430,000
Restricted cash                                      10,449,000
Mortgage loans held for sale, net                   619,207,000
Mortgage loans held for investment, net of        3,840,039,000
  allowance of $3,872,000 and $4,040,000
Mortgage servicing rights                            67,157,000
Receivable from custodian                            48,011,000
Trading securities                                    1,733,000
Securities available for sale                                 0
Securities held to maturity                                   0
Accrued interest receivable                          12,788,000
Premises and equipment, net                          43,264,000
Goodwill, net                                                 0
Deferred tax asset, net                              16,502,000
Accounts receivable from affiliates                           0
Investment in subsidiaries                                    0
Other Assets                                         49,515,000
                                                ---------------
TOTAL ASSETS                                     $4,718,095,000
                                                ===============

                       LIABILITIES & EQUITY

Warehouse lines of credit                          $636,646,000
Repurchase agreements                                         0
Loan funding payable                                 12,861,000
Accrued interest payable                                      0
Accrued expenses                                     26,137,000
Other accounts payable                              (18,562,000)
Accounts payable to affiliates                          589,000
Collaterized debt obligations                     3,747,541,000
Junior subordinated debentures representing         175,260,000
  obligations for trust preferred securities
                                                ---------------
Total liabilities                                 4,580,472,000

Minority interest                                        64,000

Shareholders Equity:
  Preferred stock                                    47,992,000
  Common stock                                          571,000
  Additional paid-in capital                        278,865,000
  Accumulated deficit                              (171,965,000)
  Treasury stock                                    (17,904,000)
  Accumulated other comprehensive (loss) income               0
                                                ---------------
Total shareholder's equity                          137,559,000
                                                ---------------
TOTAL LIABILITIES & EQUITY                       $4,718,095,000
                                                ===============


          HomeBanc Mortgage Corporation and Subsidiaries
          Unaudited Consolidated Statement of Operations
        For the Eight-Month Period Ended August 31, 2007

REVENUES
Net interest income:
  Interest income:
    Mortgage loans, including fees                 $164,925,000
    Securities available for sale                    16,833,000
    Securities held to maturity                       4,632,000
    Trading securities                                2,179,000
                                                ---------------
  Total interest income                             188,569,000

  Total interest expense                           (198,622,000)
                                                ---------------
  Net interest income                               (10,053,000)

  Provision for loan losses                           3,830,000
                                                ---------------
Net interest income after provision for loan         (6,223,000)
  losses
Net gain on sale of mortgage loans                   17,712,000
Net gain on sale of securities available for sale    24,002,000
Mortgage servicing income, net                        5,360,000
Other revenue                                        (8,748,000)
                                                ---------------
Total revenues                                       32,103,000

EXPENSES
Salaries and associate benefits, net                 48,036,000
Goodwill impairment                                  39,995,000
Marketing and promotions                             10,126,000
Occupancy and equipment                              10,245,000
Depreciation and amortization                         5,363,000
Minority interest                                       111,000
Other operating expense                              19,404,000
                                                ---------------
Total expenses                                      133,280,000
                                                ---------------
Loss before income taxes                           (101,177,000)

Income tax expense                                    5,716,000
                                                ---------------
Net loss                                          ($106,893,000)
                                                ===============


          HomeBanc Mortgage Corporation and Subsidiaries
               Consolidated Statement of Cash Flows
         For the Eight-Month Period Ended August 31, 2007

OPERATING ACTIVITIES
Net loss                                          ($106,893,000)

Adjustments to reconcile net loss to net cash
  (used in) provided by operating activities:
  Goodwill impairment                                39,995,000
  Depreciation and amortization                       5,363,000
  Net amortization of premium/accretion of           (1,064,000)
    discount on investment securities
  Provision for loan losses                          (3,830,000)
  Provision for losses associated with certain       (5,101,000)
    loan sales and mortgage loans held for sale
  Gain on sale of securities available for sale     (24,002,000)
  Capitalization of mortgage servicing rights       (23,172,000)
  Change in fair value of mortgage servicing            (77,000)
    rights
  Loss on disposal of premises and equipment            396,000
  Stock-based compensation, net                       2,678,000
  Compensation expense for Sales Equity Plan, net       158,000
  Cumulative effect of change in accounting                   0
    principle
  Minority interest                                      22,000
  Deferred taxes                                      5,716,000
  Decrease (increase) in restricted cash            117,584,000
  (Increase) decrease in mortgage loans held for   (239,908,000)
    sale, net
  Increase in trading securities                      3,091,000
  Decrease in receivable from custodian              29,601,000
  Decrease (increase) in accrued interest             9,599,000
    receivable
  Decrease (interest) in other assets                67,981,000
  (Decrease) increase in accrued interest            (9,144,000)
    payable
  Decrease in other liabilities                     (68,937,000)
                                                ---------------
Net cash (used in) provided by operating           (199,944,000)
  activities

INVESTING ACTIVITIES
Net principal collections of mortgage loans         530,489,000
  held for investment
Purchases of premises and equipment, net             (3,617,000)
Purchases of investment securities available                  0
  for sale
Proceeds from the sale of securities available    1,509,385,000
  for sale
Proceeds from maturities and prepayments of          49,274,000
  investment securities available for sale
Purchase of investment securities held to                     0
  maturity
Proceeds from maturities and prepayments of          10,553,000
  investment securities held to maturity
                                                ---------------
Net cash provided by (used in) investing          2,096,084,000
  activities

FINANCING ACTIVITIES
Increase (decrease) in warehouse credit             231,881,000
  facilities, net
(Decrease) increase in repurchase agreements,    (1,527,470,000)
  net
Net change in loan funding payable                  (50,994,000)
Proceeds from debt issuance                                   0
Repayment of debt                                  (529,485,000)
Proceeds from issuance of preferred stock, net                0
Purchase of shares under share repurchase           (16,499,000)
  program
Purchase of shares under Sales Equity Plan                    0
Cash dividends paid                                 (15,130,000)
                                                ---------------
Net cash (used in) provided by financing         (1,907,697,000)
  activities
                                                ---------------
Net increase (decrease) in cash                     (11,557,000)
Cash & cash equivalents at beginning of period       20,987,000
                                                ---------------
Cash and cash equivalents at end of period           $9,430,000
                                                ===============

Headquartered in Atlanta, Ga., HomeBanc Mortgage Corporation --
http://www.homebanc.com/-- is a mortgage banking company focused       
on originating primarily prime purchase money residential mortgage
loans in the Southeast United States.  

HomeBanc Mortgage together with five affiliates filed for chapter
11 protection on Aug. 9, 2007 (Bankr. D. Del. Case Nos. 07-11079
through 07-11084).  Joel A. Waite, Esq., at Young, Conaway,
Stargatt & Taylor was selected by the Debtors to represent them
in these cases.  The Debtors' financial condition as of June 30,
2007, showed total assets of $5,100,000,000 and total liabilities
of $4,900,000,000.

The Debtors' exclusive period to file a plan ends on Dec. 7, 2007.
(HomeBanc Bankruptcy News, Issue No. 8; Bankruptcy Creditors'
Services Inc. http://bankrupt.com/newsstand/or 215/945-7000).  


PACIFIC LUMBER: Scotia Dev't. Files August 2007 Operating Report
----------------------------------------------------------------

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

ASSETS
Current Assets
   Cash                                              $1,473,495
   Accounts receivable, net                           6,969,108
   Inventory: lower cost or market                   24,259,006
   Prepaid expenses                                   5,620,570
   Prepaid Restructuring                                100,000
   Investments                                                -
   Other                                                271,750
                                                   ------------
      Total Current Assets                           38,693,929

Property, Plant & Equipment                         213,689,088
Less: Accumulated Depreciation                     (137,783,044)
                                                   ------------
Net book value of property & plant                   75,906,044

Other Assets
   Notes Receivable                                     530,490
   Deferred Financing Costs                           6,751,646
   Long-term Investments                              2,743,636
   Restricted Cash                                    2,509,580
   Restricted Cash - Letter of
      Credit Collaterization                         14,368,408
   Deferred Tax Assets                               13,652,208
                                                   ------------
      TOTAL ASSETS                                 $155,155,941
                                                   ============

LIABILITIES & OWNERS EQUITY
Postpetition Liabilities
   Trade accounts payable                            $1,084,318
   Tax payable
      Federal payroll taxes                              54,776
      State payroll taxes                                10,000
      Ad valorem taxes                                  103,231
      Other taxes                                        23,443
                                                   ------------
         Total taxes payable                            191,451
  
   Secured debt postpetition                         61,728,574
   Accrued interest payable                           1,791,896
   Accrued professional fees                          2,447,741
   Other accrued liabilities
      Trade Accruals                                  2,198,817
      Compensation and Benefits                       1,711,899
      Other Accrued                                     678,740
      Due to Affiliate/Parent                           949,621
                                                   ------------
         Total Postpetition Liabilities              72,783,057

Prepetition Liabilities
   Notes payable - Secured                           84,277,251
   Priority debt                                      5,987,769
   Federal income tax                                   (17,006)
   FICA/ Withholding                                          -
   Unsecured debt                                     2,922,594
   Other                                             33,835,206
   Due to Affiliate/Parent                           41,661,505
                                                   ------------
      Total Prepetition Liabilities                 168,667,319
                                                   ------------
      Total Liabilities                             241,450,376


Owner's Equity (Deficit)
   Equity in Affiliates                             513,069,398
   Common Stock                                           1,001
   Additional Paid-in Capital                       275,546,288
   Retained Earnings: Filing Date                  (794,985,292)
   Retained Earnings: Post Filing Date              (79,925,830)
                                                   ------------
Total Owner's Equity                                (86,294,435)
                                                   ------------
TOTAL LIABILITIES & OWNERS EQUITY                  $155,155,941
                                                   ============

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

Revenues                                             $9,028,025
Total cost of revenues                               11,899,752
                                                   ------------
Gross Profit                                         (2,871,727)

Operating Expenses
   Selling & Marketing                                  116,606
   General & Administrative                             402,227
   Insiders Compensation                                113,136
   Professional Fees                                          -
   Idle Facilities                                       76,200
   Environmental                                         34,121
                                                   ------------
      Total Operating Expenses                          742,290
                                                   ------------
Income before interest, depreciation, tax            (3,614,016)
Interest Expense                                      1,336,239
Depreciation                                            859,031
Other (Income) Expenses                                 (13,280)
Amortization of Deferred Financing Costs              1,434,586
Restructuring
   Professional Fees                                    961,503
   Other                                                552,054
Equity Loss (Earnings) in Subsidiary                  5,538,113
Total Interest, Depreciation & Other Items           10,668,247
                                                   ------------
Net Income Before Taxes                             (14,282,262)
Federal Income Tax                                            0
                                                   ------------
Net Income (Loss)                                  ($14,282,262)
                                                   ============

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

Receipts
   Cash Sales                                           $47,180
   Collection of Accounts Receivable                 10,544,814
   Loans & Advances                                   9,970,477
   Sale of Assets                                             -
   Other                                                171,620
                                                   ------------
      Total Receipts                                 20,734,091

Disbursements
   Net payroll                                        1,145,912
   Payroll taxes paid                                   402,743
   Sales, use & other taxes paid                         16,122
   Secured/rentals/leases                               197,832
   Utilities & telephone                                 94,646
   Insurance                                            857,837
   Cost of goods sold                                 8,255,875
   Vehicle expenses                                     173,840
   Travel & entertainment                                33,205
   Repairs, maintenance & supplies                      804,393
   Administrative & selling                             831,020
   Other                                              4,394,301
                                                   ------------
Total Disbursements from operations                  17,207,725

Professional fees                                       737,877
U.S. Trustee fees                                        20,750
Other reorganization expenses                         3,467,438
                                                   ------------
      Total Disbursements                            21,433,791
                                                   ------------
Net Cash Flow                                          (699,698)
                                                   ------------
Cash, at the beginning of the month                   2,173,193
                                                   ------------
Cash, at the end of the month                        $1,473,495
                                                   ============

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.  (Scotia/Pacific Lumber Bankruptcy News, Issue
No. 29, http://bankrupt.com/newsstand/or 215/945-7000).  


PACIFIC LUMBER: ScoPac Files August 31 Monthly Operating Report
---------------------------------------------------------------

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


ASSETS
Current Assets
   Cash                                             $54,657,945
   Accounts receivable, net                           6,083,685
   Inventory: lower cost or market                      562,887
   Prepaid expenses                                   6,297,557
   Prepaid Restructuring                                839,671
   Investments                                                -
   Other                                                268,756
                                                   ------------
      Total Current Assets                          $68,710,502

Property, Plant & Equipment                         598,558,810
Less: Accumulated Depreciation                     (357,534,759)
                                                   ------------
Net book value of property & plant                  241,024,051

Other Assets
   Tax Deposits                                               -
   Investments in Subsidiaries                                -
   Electric Deposit                                           -
   Capitalized Expenses                              11,093,162
                                                   ------------
      TOTAL ASSETS                                 $320,827,715
                                                   ============

LIABILITIES & OWNERS EQUITY
Postpetition Liabilities
   Trade accounts payable                              $188,111
   Tax payable
      Federal payroll taxes                              10,815
      State payroll taxes                                 1,308
      Ad valorem taxes                                  140,000
      Other taxes                                       316,777
                                                   ------------
         Total taxes payable                            468,900
  
   Secured debt postpetition                                  -
   Accrued interest payable                          33,448,937
   Accrued professional fees                          8,436,806
   Other accrued liabilities
      Unsecured Debt                                  2,249,478
      Payroll                                           386,212
      Other                                             277,851
                                                   ------------
         Total Postpetition Liabilities              45,456,296

Prepetition Liabilities
   Notes payable - Secured                          767,304,719
   Priority debt                                        207,812
   Federal income tax                                         -
   FICA/ Withholding                                          -
   Unsecured debt                                     3,458,590
   Other                                                235,944
                                                  -------------
      Total Prepetition Liabilities                 771,207,065
                                                  -------------
      Total Liabilities                            $816,753,360

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              (34,089,904)
                                                   ------------
Total Owner's Equity                               (495,925,645)
                                                   ------------
TOTAL LIABILITIES & OWNERS EQUITY                  $320,827,715
                                                   ============


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


Revenues                                             $4,302,553
Total cost of revenues                                1,219,613
                                                   ------------
Gross Profit                                         $3,082,939

Operating Expenses
   Selling & Marketing                                        -
   General & Administrative                             162,820
   Insiders Compensation                                      -
   Professional Fees                                          -
   Other                                                      -
                                                   ------------
      Total Operating Expenses                          162,820
                                                   ------------
Income before interest, depreciation, tax             2,920,119
Interest Expense                                      4,898,927
Depreciation                                            792,393
Other (Income) Expenses                                 (59,567)
Restructuring
   Professional Fees                                  2,558,000
   Other                                                268,480
Total Interest, Depreciation & Other Items            8,458,232
                                                   ------------
Net Income Before Taxes                              (5,538,113)
Federal Income Tax                                            -
                                                   ------------
Net Income (Loss)                                   ($5,538,113)
                                                   ============

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

Receipts
   Cash Sales                                                 -
   Collection of Accounts Receivable                          -
   Loans & Advances                                           -
   Sale of Assets                                             -
   Interest Income                                     $290,184
   Log Sales to PALCO Less Reimbursable Expense       4,309,028
   Other                                                    206
                                                  -------------
      Total Receipts                                  4,599,418

Disbursements
   Net payroll                                          264,609
   Payroll taxes paid                                    86,754
   Sales, use & other taxes paid                              -
   Secured/rentals/leases                                24,644
   Utilities & telephone                                    222
   Insurance                                            410,786
   Cost of goods sold                                         -
   Vehicle expenses                                       2,891
   Travel & entertainment                                     -
   Repairs, maintenance & supplies                        3,863
   Administrative & selling                             408,621
   Other                                                      -
                                                   ------------
      Total Disbursements from operations            $1,202,391

Professional fees                                       916,343
U.S. Trustee fees                                        10,000
Other reorganization expenses                           269,127
                                                   ------------
      Total Disbursements                            $2,397,861
                                                   ------------
Net Cash Flow   --                                    2,201,558
                                                   ------------
Cash, at the beginning of the month                  52,456,387
                                                   ------------
Cash, at the end of the month                       $54,657,945
                                                   ============

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.  (Scotia/Pacific Lumber Bankruptcy News, Issue
No. 29, http://bankrupt.com/newsstand/or 215/945-7000).  

                             *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
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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
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A list of Meetings, Conferences and Seminars appears in each
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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.

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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, Joseph Medel C. Martirez, 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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