TCR_Public/071027.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 27, 2007, Vol. 11, No. 255

                             Headlines

AMERICAN HOME: Great Oak Files Schedules of Assets and Liabilities
AMERICAN HOME: Homegate Files Schedules of Assets and Liabilities
ARMSTRONG WORLD: Desseaux Files Monthly Report for September 2007
ARMSTRONG WORLD: Nitram Files September 2007 Operating Report
DELTA SYSTEMS: Files Schedules of Assets and Liabilities

FIRST MAGNUS: Posts $314,548 Net Loss in Month Ended August 31
FIRST MAGNUS: Incurs $1,058,036 Net Loss in September 2007
HOME BANC: HB Funding Files Schedules of Assets and Liabilities
HOMEBANC CORP: HB Funding II Files Schedules of Assets & Debts
HOMEBANC CORP: HMB Acceptance Files Schedules of Assets and Debts

HOMEBANC CORP: HMB Mortgage Files Schedules of Assets and Debts
M FABRIKANT: Incurs $831,000 Consolidated Net Loss in August 2007
MIRANT CORP: Mirant Lovett Posts $1,130,285 Net Loss in Aug. 2007
NEW CENTURY: Posts $21,827,903 Net Loss in Month Ended August 31
NEWPOWER HOLDINGS: Files Operating Report for July 31 to August 31

REFCO LLC: Chapter 7 Trustee Files August 2007 Operating Report

                             *********

AMERICAN HOME: Great Oak Files Schedules of Assets and Liabilities
------------------------------------------------------------------
American Home Mortgage Investment Corp.'s debtor-affiliate, Great
Oak Abstract Corp., 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.2   Bank Accounts                                      757,107
B.16  Accounts Receivable                                 36,615
B.28  Office Equipment
         Furniture & fixtures, net                         5,339
B.35  Other Personal Property                            104,800

       TOTAL SCHEDULED ASSETS                           $903,861
       =========================================================

C - Property Claimed                                          $0

D - Creditors Holding                                          0
E - Creditors Holding Unsecured Priority Claims
       Taxes and employee claims                               0

F - Creditors Holding Unsecured Nonprio Claims
       Inter-company payable, AP Vendor                        0

       TOTAL SCHEDULED LIABILITIES                            $0
       =========================================================

Based in Melville, New York, American Home Mortgage Investment
Corp. (NYSE: AHM) -- http://www.americanhm.com/-- is a mortgage
real estate investment trust engaged in the business of investing
in mortgage-backed securities and mortgage loans resulting from
the securitization of residential mortgage loans originated and
serviced by its subsidiaries.

American Home Mortgage and seven affiliates filed for chapter 11
protection on Aug. 6, 2007 (Bankr. D. Del. Case Nos. 07-11047
through 07-11054).  James L. Patton, Jr., Esq., Joel A. Waite,
Esq., and Pauline K. Morgan, Esq. at Young, Conaway, Stargatt &
Taylor LLP represent the Debtors.  Epiq Bankruptcy Solutions LLC
acts as the Debtors' claims and noticing agent.  The Official
Committee of Unsecured Creditors has selected Hahn & Hessen LLP as
its counsel.  As of March 31, 2007, American Home Mortgage's
balance sheet showed total assets of $20,553,935,000, total
liabilities of $19,330,191,000.  The Debtors' exclusive period to
file a plan expires on Dec. 4, 2007.  (American Home Bankruptcy
News, Issue No. 12, Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


AMERICAN HOME: Homegate Files Schedules of Assets and Liabilities
-----------------------------------------------------------------
American Home Mortgage Investment Corp.'s debtor-affiliate,
Homegate Settlements Services Inc., 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.2   Bank Accounts                                      100,488
B.28  Office Equipment
         Office equipment, net                           233,715

       TOTAL SCHEDULED ASSETS                           $334,203
       =========================================================

C - Property Claimed                                          $0

D - Creditors Holding                                          0
E - Creditors Holding Unsecured Priority Claims
       Taxes and employee claims                         600,318

F - Creditors Holding Unsecured Nonprio Claims
       Inter-company payable, AP Vendor                8,165,701

       TOTAL SCHEDULED LIABILITIES                    $8,766,019
       =========================================================

Based in Melville, New York, American Home Mortgage Investment
Corp. (NYSE: AHM) -- http://www.americanhm.com/-- is a mortgage
real estate investment trust engaged in the business of investing
in mortgage-backed securities and mortgage loans resulting from
the securitization of residential mortgage loans originated and
serviced by its subsidiaries.

American Home Mortgage and seven affiliates filed for chapter 11
protection on Aug. 6, 2007 (Bankr. D. Del. Case Nos. 07-11047
through 07-11054).  James L. Patton, Jr., Esq., Joel A. Waite,
Esq., and Pauline K. Morgan, Esq. at Young, Conaway, Stargatt &
Taylor LLP represent the Debtors.  Epiq Bankruptcy Solutions LLC
acts as the Debtors' claims and noticing agent.  The Official
Committee of Unsecured Creditors has selected Hahn & Hessen LLP as
its counsel.  As of March 31, 2007, American Home Mortgage's
balance sheet showed total assets of $20,553,935,000, total
liabilities of $19,330,191,000.  The Debtors' exclusive period to
file a plan expires on Dec. 4, 2007.  (American Home Bankruptcy
News, Issue No. 12, Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


ARMSTRONG WORLD: Desseaux Files Monthly Report for September 2007
-----------------------------------------------------------------

                    Desseaux Corp. of North America
                        Unaudited Balance Sheet
                       As of September 30, 2007

                               ASSETS

Current Assets                                               $0
Plant, Property and Equipment, Net                            0
Other Assets:
   Investment in Subsidiary                           3,885,354
   Due from Parent Corporation                              840
                                                ---------------
Total Assets                                         $3,886,194
                                                ===============

                         LIABILITIES & EQUITY

Liabilities Not Subject to Compromise:
   Due to Parent Corporation                            $66,805
   Payable to Nitram Liquidators – Postpetition           7,835
                                                ---------------
Total Liabilities Not Subject to Compromise              74,640

Liabilities Subject to Compromise:
   Accrued Expenses                                     247,768
   Payable to Subsidiary                                944,860
   Notes Payable                                      2,964,500
                                                ---------------
Total Liabilities Subject to Compromise               4,157,128

Shareholder's Equity:
   Common Stock                                           1,000
   Paid-in Capital                                    2,499,000
   Retained Deficit                                  (2,845,574)
                                                ---------------
Total Shareholder's Equity                             (345,574)
                                                ---------------
Total Liabilities and Owners' Equity                 $3,886,194
                                                ===============


                    Desseaux Corp. of North America
                  Unaudited Statements of Operations
                    Month Ended September 30, 2007

Ordinary Income/Expense                                      $0
                                                ---------------
Total Income/Expense                                          0
                                                ---------------
Federal Income Taxes                                          0
State Taxes                                                   0
                                                ---------------
Net Income (Loss)                                           ($0)
                                                ===============

Based in Lancaster, Pennsylvania, Armstrong World Industries,
Inc. (NYSE: AWI) -- http://www.armstrong.com/-- designs and
manufactures floors, ceilings and cabinets.  AWI operates 42
plants in 12 countries and employs approximately 14,200 people
worldwide.

The company has Asia-Pacific locations in Australia, China, Hong
Kong, Indonesia, Japan, Malaysia, Philippines, Singapore, South
Korea, Taiwan, Thailand and Vietnam.  It also has locations in
Colombia, Costa Rica, Greece and Iceland, among others.

The company and its affiliates filed for chapter 11 protection
on Dec. 6, 2000 (Bankr. Del. Case No. 00-04469).  Stephen
Karotkin, Esq., at Weil, Gotshal & Manges LLP, and Russell
C.Silberglied, Esq., at Richards, Layton & Finger, P.A.,
represent the Debtors in their restructuring efforts.  The
company and its affiliates tapped the Feinberg Group for
analysis, evaluation, and treatment of personal injury asbestos
claims.

Mark Felger, Esq. and David Carickhoff, Esq., at Cozen and
O'Connor, and Robert Drain, Esq., Andrew Rosenberg, Esq., and
Alexander Rohan, Esq., at Paul, Weiss, Rifkind, Wharton &
Garrison, represent the Official Committee of Unsecured
Creditors.  The Creditors Committee tapped Houlihan Lokey for
financial and investment advice.  The Official Committee of
Asbestos Personal Injury Claimant hired Ashby & Geddes as
counsel.

The Bankruptcy Court confirmed AWI's plan on Nov. 18, 2003.  The
District Court Judge Robreno confirmed AWI's Modified Plan on
Aug. 14, 2006.  The Clerk entered the formal written
confirmation order on Aug. 18, 2006.  The company's "Fourth
Amended Plan of Reorganization, as Modified," has become
effective and AWI has emerged from Chapter 11.

Nitram Liquidators Inc. and Desseaux Corporation of North America
delivered to the Court a Joint Chapter 11 Plan of Liquidation and
an accompanying Disclosure Statement on Sept. 20, 2007.  The Court
has set Oct. 16, 2007, as the last day for filing objections to
the Nitram/Desseaux's disclosure statement.  A hearing to consider
confirmation of the Plan is set for Nov. 2, 2007.  (Armstrong
Bankruptcy News, Issue No. 116; Bankruptcy Creditors' Service,
Inc., http://bankrupt.com/newsstand/or 215/945-7000)


ARMSTRONG WORLD: Nitram Files September 2007 Operating Report
-------------------------------------------------------------

                        Nitram Liquidators, Inc.
                        Unaudited Balance Sheet
                        As of September 30, 2007

                                 ASSETS

Current Assets:
   Cash                                                 $12,368
   Accounts Receivable                                  559,035
   Reserve for Uncollectible Accounts                  (559,035)
                                                ---------------
Other Current Assets:
   Deferred Tax                                               -
   Due from Parent Corporation                          952,694
   Note Receivable from Southwest Recreation          6,334,948
   Reserve for Receivable                            (6,334,948)
                                                ---------------
Total Current Assets                                    965,119
                                                ---------------
Plant, Property and Equipment, Net                            0
Other Assets                                                  0
                                                ---------------
Total Assets                                           $965,061
                                                ===============

                            LIABILITIES & EQUITY

Liabilities Not Subject to Compromise:
   Due to Parent Corporation                           $104,012
   Accounts Payable – Postpetition                          481
                                                ---------------
Total Liabilities Not Subject to Compromise             104,493


Liabilities Subject to Compromise:
   Accounts Payable                                     208,148
   Warranty Reserves                                    569,998
   Due to Affiliates                                  8,443,772
                                                ---------------
Total Liabilities Subject to Compromise               9,221,918


Shareholder's Equity:
   Common Stock                                           1,000
   Cumulative Dividends (Preferred)                   2,964,500
   Dividends                                           (284,098)
   Paid-in Capital                                    3,459,000
   Retained Deficit                                 (14,501,751)
                                                ---------------
Total Equity                                         (8,361,349)
                                                ---------------
Total Liabilities and Owners' Equity                   $965,061
                                                ===============


                        Nitram Liquidators, Inc.
                  Unaudited Statements of Operations
                     Month Ended August 31, 2007

Income                                                       $0
                                                ---------------
Total Operating Expenses                                      0

Operating Income (Loss)                                       0
                                                ---------------
Other Income (Expense)
   Bank Fees                                                (57)
                                                ---------------
Total Other Income                                          (57)
                                                ---------------
Income (Loss) Before Capital-related Expenses              ($57)
                                                ===============

Based in Lancaster, Pennsylvania, Armstrong World Industries,
Inc. (NYSE: AWI) -- http://www.armstrong.com/-- designs and
manufactures floors, ceilings and cabinets.  AWI operates 42
plants in 12 countries and employs approximately 14,200 people
worldwide.

The company has Asia-Pacific locations in Australia, China, Hong
Kong, Indonesia, Japan, Malaysia, Philippines, Singapore, South
Korea, Taiwan, Thailand and Vietnam.  It also has locations in
Colombia, Costa Rica, Greece and Iceland, among others.

The company and its affiliates filed for chapter 11 protection
on Dec. 6, 2000 (Bankr. Del. Case No. 00-04469).  Stephen
Karotkin, Esq., at Weil, Gotshal & Manges LLP, and Russell
C.Silberglied, Esq., at Richards, Layton & Finger, P.A.,
represent the Debtors in their restructuring efforts.  The
company and its affiliates tapped the Feinberg Group for
analysis, evaluation, and treatment of personal injury asbestos
claims.

Mark Felger, Esq. and David Carickhoff, Esq., at Cozen and
O'Connor, and Robert Drain, Esq., Andrew Rosenberg, Esq., and
Alexander Rohan, Esq., at Paul, Weiss, Rifkind, Wharton &
Garrison, represent the Official Committee of Unsecured
Creditors.  The Creditors Committee tapped Houlihan Lokey for
financial and investment advice.  The Official Committee of
Asbestos Personal Injury Claimant hired Ashby & Geddes as
counsel.

The Bankruptcy Court confirmed AWI's plan on Nov. 18, 2003.  The
District Court Judge Robreno confirmed AWI's Modified Plan on
Aug. 14, 2006.  The Clerk entered the formal written
confirmation order on Aug. 18, 2006.  The company's "Fourth
Amended Plan of Reorganization, as Modified," has become
effective and AWI has emerged from Chapter 11.

Nitram Liquidators Inc. and Desseaux Corporation of North America
delivered to the Court a Joint Chapter 11 Plan of Liquidation and
an accompanying Disclosure Statement on Sept. 20, 2007.  The Court
has set Oct. 16, 2007, as the last day for filing objections to
the Nitram/Desseaux's disclosure statement.  A hearing to consider
confirmation of the Plan is set for Nov. 2, 2007.  (Armstrong
Bankruptcy News, Issue No. 116; Bankruptcy Creditors' Service,
Inc., http://bankrupt.com/newsstand/or 215/945-7000)


DELTA SYSTEMS: Files Schedules of Assets and Liabilities
--------------------------------------------------------
Delta Systems Inc. and its debtor-affiliates submitted to the U.S,
Bankruptcy Court for the Western District of Arkansas their
schedules of assets and liabilities, disclosing:

     Name of Schedule                Assets      Liabilities
     ----------------              ----------    -----------
  A. Real Property                         $0           
  B. Personal Property              4,325,789
  C. Property Claimed as                    0
     Exempt                                            
  D. Creditors Holding                            $1,483,712
     Secured Claims
  E. Creditors Holding                                     0
     Unsecured Priority
     Claims                                         
  F. Creditors Holding                             6,151,962
     Unsecured Non-priority
     Claims
                                   ----------    -----------
     TOTAL                         $4,325,789     $7,635,674

Rogers, Arkansas-headquartered Delta Systems Inc. --
http://www.deltasystemsinc.com/-- together with its affiliates,  
design and manufacture electrical and electronic products for
OEMs.  The Debtor and three-affiliates filed for chapter 11
protection on Oct. 1, 2007 (Bankr. W.D. Ark. Lead Case No. 07-
73144).  Jill R. Jacoway, Esq. at Jacoway Law Firm, Ltd. and
Stanley V. Bond, Esq. at Bond Law Office are counsels to the
Debtors.


FIRST MAGNUS: Posts $314,548 Net Loss in Month Ended August 31
--------------------------------------------------------------

                First Magnus Financial Corporation
                           Balance Sheet
                       As of August 31, 2007

ASSETS

Unrestricted Cash                                  $6,498,165
Restricted Cash                                             -
                                               --------------
   Total cash                                               -

Accounts Receivable (net)                       1,816,582,309
Inventory                                                   -
Notes Receivable                                            -
Prepaid Expenses                                            -
Other                                               1,171,767

Property, Plant & Equipment
Less : Accumulated Depreciation                      
Net property, Plant & Equipment                    27,667,539
Due From Insider(s)
Other Assets - net                                  6,939,377
Other                                              12,992,671
                                               --------------
   TOTAL ASSETS                                $1,871,851,828
                                               ==============

POST PETITION LIABILITIES
Accounts Payable                                            -
Taxes Payable                                               -
Notes Payable                                               -
Professional Fees                                           -
Secured Debt                                                -
Other                                               2,816,771
                                               --------------
   Total Post-Petition Liabilities                  2,816,771

PREPETITION LIABILITIES
Secured Debt                                    1,572,205,025
Priority Debt                                      11,990,930
Unsecured Debt                                     67,411,209
Other  
                                               --------------
   Total Prepetition Liabilities                1,651,607,164
                                               --------------
TOTAL LIABILITIES                               1,654,423,935

EQUITY
Pre-petition Owner's Equity                       217,742,442
Post-Petition Cumulative Profit/Loss                 (314,549)
                                               --------------
   Total Equity                                   217,427,893
                                               --------------
TOTAL LIABILITIES & OWNER'S EQUITY             $1,871,851,828
                                               ==============


                First Magnus Financial Corporation
                          Income Statement
                    Month Ended August 31, 2007

REVENUES
Gross Revenue                                        $157,294

COST OF GOODS SOLD
Direct Labor                                          444,986
                                               --------------
   GROSS PROFIT                                      (287,692)

OPERATING EXPENSES
Officer/Insider Compensation                                -
General & Administrative                               26,856
                                               --------------
   Total Operating Expenses                            26,856
                                               --------------
Income Before Non-Operating Income     
   and Expenses                                      (314,548)

OTHER INCOME AND EXPENSE
Other Income                                                -
Other Expense                                               -
Interest Expense                                            -
Depreciation/Depletion                                      -
Amortization                                                -
Net other Income and Expense                                -
                                               --------------
Income Before Reorganization Expense                 (314,548)

REORGANIZATION EXPENSES
Professional fees                                           -
U.S. Trustee Fees                                           -
Other                                                       -
                                               --------------
   Total Reorganization Expenses                            -

Income Tax                                                  -
                                               --------------
NET PROFIT OR (LOSS)                                ($314,548)
                                               ==============

Based in Tucson, Arizona, First Magnus Financial Corporation --
http://www.firstmagnus.com/-- purchases and sells prime and
Alt-A mortgage loans secured by one-to-four unit residences.  

Thecompany filed for chapter 11 protection on Aug. 21, 2007
(Bankr. D. Ariz. Case No.: 07-01578).  John R. Clemency, Esq., at
Greenberg Traurig LLP serves as the counsel for the Debtor.  The  
Official Committee of Unsecured Creditors has selected the firm
Warner Stevens LLP as its counsel.  When the Debtor filed for
bankruptcy, it listed total assets of $942,109,860 and total debts
of $812,533,046.

The Debtor's exclusive period to file a plan expires on Dec. 19,
2007.  (First Magnus Bankruptcy News, Issue No. 9; Bankruptcy
Creditors' Service Inc. http://bankrupt.com/newsstand/or          
215/945-7000).


FIRST MAGNUS: Incurs $1,058,036 Net Loss in September 2007
----------------------------------------------------------

                First Magnus Financial Corporation
                           Balance Sheet
                       As of September 30, 2007

ASSETS
Unrestricted Cash                                  $4,517,098
Restricted Cash                                            --

Accounts Receivable (net)                       1,815,380,004          
Inventory                                                   -
Notes Receivable                                            -
Prepaid Expenses                                            -
Other                                               1,144,686

Net Property, Plant & Equipment                    27,667,539

Due From Insider(s)                                         -
Other Assets - net                                  6,939,377
Other                                              12,992,671
                                               --------------
   TOTAL ASSETS                                $1,868,641,375
                                               ==============

POSTPETITION LIABILITIES
Accounts Payable                                     $266,500           
Taxes Payable                                               -
Notes Payable                                               -
Professional Fees                                           -
Secured Debt                                                -
Other                                                 565,872
                                               --------------
   Total Post-Petition Liabilities                    832,372

PREPETITION LIABILITIES
Secured Debt                                    1,572,205,025
Priority Debt                                      11,822,911
Unsecured Debt                                     67,411,209
Other                                                       -
                                               --------------
   Total Prepetition Liabilities                1,651,439,145
                                               --------------
TOTAL LIABILITIES                               1,652,271,517
                                               --------------

EQUITY
Prepetition Owner's Equity                        217,742,442
Post-Petition Cumulative Profit/Loss               (1,372,585)
                                               --------------
   Total Equity                                   216,369,857
                                               --------------
TOTAL LIABILITIES & OWNER'S EQUITY             $1,868,641,375
                                               ==============


                First Magnus Financial Corporation
                          Income Statement
                  Month Ended September 30, 2007

REVENUES
Gross Revenue                                         $46,478         
Less: Returns and Discounts                                 -
                                               --------------
   Net Revenue                                         46,478

COST OF GOODS SOLD                     
Material                                                    -
Direct Labor                                          673,086
Direct Overhead                                             -
                                               --------------
   Total Cost of Goods Sold                           673,086  
                                               --------------
   GROSS PROFIT                                      (626,607)

OPERATING EXPENSES
Officer/Insider Compensation                                -
General & Administrative                              431,427
Other Expenses                                              -
                                               --------------
   Total Operating Expenses                           431,427
                                               --------------
Income Before Non-Operating  Income
   and Expenses                                    (1,058,036)

OTHER INCOME AND EXPENSE
Other Income                                                -
Other Expense                                               -
Interest Expense                                            -
Depreciation/Depletion                                      -
Amortization                                                -
Net other Income and Expense                                -
                                               --------------
Income Before Reorganization Expense               (1,058,036)

REORGANIZATION EXPENSES                       
Professional fees                                           -
U.S. Trustee Fees                                           -
Other                                                       -
                                               --------------
   Total Reorganization Expenses                            -

Income Tax                                                  -
                                               --------------
NET PROFIT OR (LOSS)                              ($1,058,036)
                                               ==============

Based in Tucson, Arizona, First Magnus Financial Corporation --
http://www.firstmagnus.com/-- purchases and sells prime and
Alt-A mortgage loans secured by one-to-four unit residences.  

The company filed for chapter 11 protection on Aug. 21, 2007
(Bankr. D. Ariz. Case No.: 07-01578).  John R. Clemency, Esq., at
Greenberg Traurig LLP serves as the counsel for the Debtor.  The  
Official Committee of Unsecured Creditors has selected the firm
Warner Stevens LLP as its counsel.  When the Debtor filed for
bankruptcy, it listed total assets of $942,109,860 and total debts
of $812,533,046.

The Debtor's exclusive period to file a plan expires on Dec. 19,
2007.  (First Magnus Bankruptcy News, Issue No. 9; Bankruptcy
Creditors' Service Inc. http://bankrupt.com/newsstand/or          
215/945-7000).


HOME BANC: HB Funding Files Schedules of Assets and Liabilities
---------------------------------------------------------------  
HomeBanc Funding Corp. 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.2  Bank Accounts                                     1,523,174
B.9  Insurance Policies                                  unknown
B.16 Accounts Receivable                    
        HomeBanc Mortgage Corporation                651,458,703
        HomeBanc Funding Corp. II                     35,737,832
        HomeBanc Mortgage Trust 2005-1                   485,469
        HomeBanc Mortgage Trust 2005-3                     2,344
        HomeBanc Mortgage Trust 2005-4                     3,095
B.23 Licenses, franchises & other intangibles            unknown
  
       TOTAL SCHEDULED ASSETS                       $689,210,616
       =========================================================  
  
C.   Property Claimed as Exempt                   Not applicable

D.   Creditors Holding Secured Claims                          0
  
E.   Creditors Holding Unsecured Priority Claims               0
  
F.   Creditors Holding Unsecured Non-priority Claims
        David Falgoust                                       250
        HMB Acceptance Corp.                                 400
        HomeBanc Corp.                                87,237,473
        HomeBanc Mortgage Trust 2004-1               591,343,494
        HomeBanc Mortgage Trust 2004-2                   275,505
  
       TOTAL SCHEDULED LIABILITIES                  $678,857,122
       =========================================================

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. 10; Bankruptcy Creditors'
Services Inc. http://bankrupt.com/newsstand/or 215/945-7000


HOMEBANC CORP: HB Funding II Files Schedules of Assets & Debts
--------------------------------------------------------------  
HomeBanc Funding Corp. II 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.9  Insurance Policies                                  unknown
B.16 Accounts Receivable                    
        HomeBanc Mortgage Corporation                386,509,083
        HMB Acceptance Corp.                                 500
        HomeBanc Mortgage Trust 2004-2                       825
        HomeBanc Mortgage Trust 2005-1                   685,192
        HomeBanc Mortgage Trust 2005-2                   931,609
        HomeBanc Mortgage Trust 2005-4                     2,949
        HomeBanc Mortgage Trust 2005-5                    30,000
B.23 Licenses, franchises & other intangibles            unknown
  
       TOTAL SCHEDULED ASSETS                       $388,160,158
       =========================================================  
  
C.   Property Claimed as Exempt                   Not applicable
  
D.   Creditors Holding Secured Claims                          0
  
E.   Creditors Holding Unsecured Priority Claims               0
  
F.   Creditors Holding Unsecured Non-priority Claims
        HomeBanc Corp.                               109,194,791
        HomeBanc Funding Corp.                        35,737,832
        HomeBanc Mortgage Trust 2004-1               243,415,228
        David Falgoust                                   unknown
  
       TOTAL SCHEDULED LIABILITIES                  $388,347,850
       =========================================================

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. 10; Bankruptcy Creditors'
Services Inc. http://bankrupt.com/newsstand/or 215/945-7000


HOMEBANC CORP: HMB Acceptance Files Schedules of Assets and Debts
-----------------------------------------------------------------  
HMB Acceptance Corp. 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.2  Bank Accounts -- Wachovia Bank, N.A.                279,389
B.9  Insurance Policies                                  unknown
B.13 Stock and Interests                                 unknown
B.15 Government and corporate bonds                      unknown
B.16 Accounts Receivable                    
        HomeBanc Corp.                                31,584,001
        HomeBanc Funding Corp.                               400
B.23 Licenses, franchises & other intangibles            unknown
  
       TOTAL SCHEDULED ASSETS                        $31,863,790
       =========================================================  
  
C.   Property Claimed as Exempt                   Not applicable
  
D.   Creditors Holding Secured Claims                          0
  
E.   Creditors Holding Unsecured Priority Claims               0
  
F.   Creditors Holding Unsecured Non-priority Claims
        HomeBanc Funding Corp. II                            500
        HomeBanc Mortgage Corporation                  1,817,020
        HomeBanc Mortgage Trust 2004-1                12,990,769
        HomeBanc Mortgage Trust 2004-2                 7,935,073
        HomeBanc Mortgage Trust 2005-1                 2,888,359
        HomeBanc Mortgage Trust 2005-2                 1,664,394
        HomeBanc Mortgage Trust 2005-3                 1,975,191
        HomeBanc Mortgage Trust 2005-4                   621,829
        HomeBanc Mortgage Trust 2005-5                 1,691,467
        Robert Stanley Kryder                                250
  
       TOTAL SCHEDULED LIABILITIES                   $31,584,851
       =========================================================

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. 10; Bankruptcy Creditors'
Services Inc. http://bankrupt.com/newsstand/or 215/945-7000).


HOMEBANC CORP: HMB Mortgage Files Schedules of Assets and Debts
---------------------------------------------------------------  
HMB Mortgage Partners LLC 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.2  Bank Accounts - Wachovia Bank, N.A.                 105,513
B.9  Insurance Policies                                  unknown
B.14 Interests in partnerships & joint venture     
        BH Mortgage Partners LLC                         110,000
B.16 Accounts Receivable                    
        HomeBanc Mortgage Corporation                     77,324
  
       TOTAL SCHEDULED ASSETS                           $292,837
       =========================================================  
  
C.   Property Claimed as Exempt                   Not applicable

D.   Creditors Holding Secured Claims                          0
  
E.   Creditors Holding Unsecured Priority Claims               0
  
F.   Creditors Holding Unsecured Non-priority Claims           0
  
       TOTAL SCHEDULED LIABILITIES                            $0
       =========================================================

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. 10; Bankruptcy Creditors'
Services Inc. http://bankrupt.com/newsstand/or 215/945-7000).


M FABRIKANT: Incurs $831,000 Consolidated Net Loss in August 2007
-----------------------------------------------------------------
M. Fabrikant & Sons Inc. and Fabrikant-Leer International Ltd.
filed with the U.S. Bankruptcy Court for the Southern District of
New York its operating statements for the month of August 2007.

     Disbursements for August 2007
         M. Fabrikant                      $1,929,038
         Fabrikant-Leer                        10,453

     Consolidated Loss for the Month         $831,000

Headquartered in New York City, M. Fabrikant & Sons Inc. --
http://www.fabrikant.com/-- sells diamonds and jewelries.  The
company and its affiliate, Fabrikant-Leer International Ltd.,
filed for chapter 11 protection on Nov. 17, 2006 (Bankr. S.D.N.Y.
Lead Case No. 06-12737).  Mitchel H. Perkiel, Esq., Lee W.
Stremba, Esq., and Paul H. Deutch, Esq., at Troutman Sanders LLP
represent the Debtors in their restructuring efforts.  Alan Kolod,
Esq., Lawrence L. Ginsberg, Esq., and Christopher J. Caruso, Esq.,
at Moses & Singer LLP serve as counsel to the Official Committee
of Unsecured Creditors.  When the Debtors filed for protection
from their creditors, they listed estimated assets and debts of
more than $100 million.

The Court has set an Oct. 30, 2007 hearing to consider approval of
the disclosure statement explaining the plan jointly filed by the
Debtors and the Creditors Committee.


MIRANT CORP: Mirant Lovett Posts $1,130,285 Net Loss in Aug. 2007
-----------------------------------------------------------------

                        Mirant Lovett, LLC
                    Consolidated Balance Sheet
                      As of August 31, 2007

ASSETS

Unrestricted Cash                                     $288
Restricted cash                                 16,709,929
Total cash                                      16,710,217
Accounts receivable (net)                        9,378,627
Inventory                                       12,055,198
Notes receivable                                31,210,351
Prepaid expenses                                         -
Other                                            1,364,312
                                               -----------
     Total current assets                       70,718,705

Property, plant & equipment                     10,565,277
Less: accumulated                               (2,695,995)
   Depreciation / depletion
Net property, plant & equipment                  7,869,282
Due from insiders                                         
Other assets, net of amortization
Other restricted cash                            5,958,062
                                               -----------
     TOTAL ASSETS                              $84,546,049
                                               ===========
LIABILITIES AND EQUITY

Postpetition Liabilities:
   Accounts payable                              8,877,583
   Taxes payable                                 1,162,546
   Notes payable                                         -
   Professional fees                                     -
   Secured debt                                          -
   Other                                         8,593,537
                                               -----------
     Total postpetition liabilities             18,633,666

Prepetition Liabilities:
   Secured debt                                          -
   Priority debt                                         -
   Unsecured debt                                        -
   Other liabilities subject to compromise      25,273,500
                                               -----------
     Total prepetition liabilities              25,273,500
                                               -----------
     TOTAL LIABILITIES                          43,907,166

EQUITY
Additional paid in capital                     244,343,544
Retained earnings                             (203,704,661)
Direct charges to equity                                 -
                                               -----------

     Total equity                               40,638,883
                                               -----------
     TOTAL LIABILITIES & OWNERS' EQUITY        $84,546,049
                                               ===========


                      Mirant Lovett, LLC
                Consolidated Statements of Income
                   Month Ending August 31, 2007

REVENUES:
   Gross Revenues                               $8,901,803
   Less: returns & discounts                             -
                                               -----------
     Net revenue                                 8,901,803

COST OF GOODS SOLD:
   Material                                      4,416,812
   Direct labor                                          -
   Direct overhead                                       -
                                               -----------
     Total cost of goods sold                    4,416,812
                                               -----------
     Gross margin                                4,484,991

OPERATING EXPENSES:
   Officer / insider compensation                        -
   Selling & marketing                                   -
   General & administrative                              -
   Operating & maintenance                       4,962,251
   Other                                                 -
                                               -----------
     Total operating expenses                    4,962,251
                                               -----------
     Income before non-operating                  (477,260)
     income & expense

OTHER INCOME AND EXPENSES:
   Non-operating income                                  -
   Non-operating expense                                 -
   Interest expense                                 53,012
   Depreciation / depletion                        629,668
   Amortization                                          -
   Other                                            (3,103)
                                               -----------
     Net other income & expenses                   679,577

REORGANIZATION EXPENSES:
   Professional fees                                     -
   U.S. Trustee fees                                     -
   Other                                           (26,552)
                                               -----------
      Total reorganization expenses                      -
   Income tax                                            -
                                               -----------
     NET PROFIT (LOSS)                         $(1,130,285)
                                               ===========


                       Mirant Lovett, LLC
         Unconsolidated Cash Receipts and Disbursements
                 Month Ending August 31, 2007

Cash, beginning of month                       $14,824,607

Cash sales                                               -

Collection of accounts receivable                        -
   Prepetition                                           -
   Postpetition                                          -
                                               -----------
     Total operating receipts                            -

   Non - operating receipts
     Loans & advances                           (2,254,625)
     Sale of assets                                      -
     Other                                          61,750
                                               -----------
     Total non-operating receipts               (2,192,875)
                                               -----------
     Total receipts                             (2,192,875)
                                               -----------
     Total cash available                       12,631,732

Operating disbursements
   Collateral deposits                         (11,367,431)
   Operating and maintenance                     7,289,232
                                               -----------
     Total operating disbursements              (4,078,199)

Reorganization expenses                                  -
                                               -----------
     Total disbursements                        (4,078,198)
                                               -----------
Net cash flow                                    1,885,323
                                               -----------
Cash, end of month                             $16,709,930
                                               ===========

Headquartered in Atlanta, Georgia, Mirant Corporation (NYSE:
MIR) -- http://www.mirant.com/-- is an energy company that
produces and sells electricity in North America, the Caribbean,
and the Philippines.  Mirant's investments in the Caribbean
include three integrated utilities and assets in Jamaica, Grand
Bahama, Trinidad and Tobago and Curacao.  Mirant owns or leases
more than 18,000 megawatts of electric generating capacity
globally.

Mirant Corporation filed for chapter 11 protection on July 14,
2003 (Bankr. N.D. Tex. 03-46590), and emerged under the terms of a
confirmed Second Amended Plan on Jan. 3, 2006.  thomas E. Lauria,
Esq., at White & Case LLP, represented the Debtors in their
successful restructuring.  When the Debtors filed for protection
from their creditors, they listed $20,574,000,000 in assets and
$11,401,000,000 in debts.  The Debtors emerged from bankruptcy on
Jan. 3, 2006.  On March 7, 2007, the Court entered a final decree
closing 46 Mirant cases.

Mirant NY-Gen LLC, Mirant Bowline LLC, Mirant Lovett LLC, Mirant
New York Inc., and Hudson Valley Gas Corporation, were not
included.  On Feb. 15, 2007, Mirant NY-Gen filed its Chapter 11
Plan of Reorganization and on Feb. 22 filed a Disclosure Statement
explaining that Plan.  The Court approved the adequacy of Mirant
NY-Gen's Disclosure Statement on March 22, 2007, and confirmed the
Amended Plan on May 7, 2007.  Mirant NY-Gen emerged from chapter
11 on May 7, 2007.

On July 13, 2007, Mirant Lovett filed its Chapter 11 Plan of
Reorganization.  The Court confirmed Mirant Lovett's Plan on
Sept. 19, 2007.  (Mirant Bankruptcy News, Issue No. 132;
Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/  
or 215/945-7000)

                         *     *     *

The ratings of Mirant Corp. (Issuer Default Rating of 'B+') and
its subsidiaries remain on Fitch's Rating Watch Negative following
the company's plans to pursue alternative strategic options
including a possible purchase of Mirant by a third party.


NEW CENTURY: Posts $21,827,903 Net Loss in Month Ended August 31
----------------------------------------------------------------

           New Century Financial Corp. and Affiliates
                   Consolidated Balance Sheet
                      As of August 31, 2007

Assets
Current Assets:
Unrestricted Cash and Equivalents                  $109,097,751
Restricted Cash and Equivalents                      18,400,223
Accounts Receivable, Net                                      0
Notes Receivable                                              0
Inventories                                                   0
Prepaid Expenses                                     10,963,649
Professional Retainers                                        0
Other Current Assets                                 67,544,523
                                                 --------------
Total Current Assets                                206,006,146
                                                 --------------
Property and Equipment                               69,418,455
Other Assets                                      7,635,780,293
                                                 --------------
Total Assets                                     $7,911,204,893
                                                 ==============

Liabilities and Owners' Equity
Liabilities Not Subject to Compromise:
   Accounts Payable                                          $0
   Professional Fees                                 22,787,655
Liabilities Subject to Compromise:
   Secured Debt                                   7,255,428,803
   Priority Debt                                      2,739,519
   Unsecured Debt                                   249,404,842
                                                 --------------
Total Liabilities                                 7,530,360,819
                                                 --------------
Owner Equity:
   Capital Stock                                      9,480,047
   Additional Paid-in Capital                     2,170,845,310
   Partners' Capital Account                                  0
   Owners' Equity Account                                     0
   Retained Earnings – Prepetition               (1,088,392,469)
   Retained Earnings – Postpetition                (711,088,812)
   Adjustments to Owner Equity                                0
   Postpetition Contributions                                 0
                                                 --------------
Net owner Equity                                    380,844,076
                                                 --------------
Total Liabilities and Owners' Equity             $7,911,204,894
                                                 ==============


           New Century Financial Corp. and Affiliates
             Consolidated Statement of Operations
                 Month Ended August 31, 2007

Revenues                                              ($190,307)
Cost of Goods Sold                                            0
Operating Expenses:
   Advertising                                          306,924
   Employee Benefits Programs                           144,467
   Insurance                                            160,951
   Office Expense                                       865,972
   Rent and Lease Expense                            (8,909,762)
   Salaries, Commissions, & Fees                      2,778,327
   Travel and Entertainment                              81,412
   Other                                              3,262,709
Depreciation, Depletion & Amortization                2,105,405
                                                 --------------
Net Profit (Loss) before Other Income & Expenses       (986,712)
Other Expense                                        (7,499,706)
Reorganization Items
   Professional Fees                                 13,492,773
   Interest Earned for Accumulated Cash                (151,288)
   Total Reorganization Expenses                     13,341,485
   Income Taxes                                               0
                                                 --------------
Net Profit (Loss)                                  ($21,827,903)
                                                 ==============


           New Century Financial Corp. and Affiliates
          Schedule of Cash Receipts and Disbursements
                  Month Ended August 31, 2007

Cash, Beginning of month                           $131,457,785

Total Receipts                                       11,691,718
Total Disbursements                                 (15,651,528)
                                                 --------------
Net Cash Flow                                        (3,959,810)
                                                 --------------
Cash, End of month                                 $127,497,975
                                                 ==============

The consolidated financial statements include non-debtor
affiliates and subsidiaries of New Century Financial Corp.  A
copy of the Debtors' monthly operating report is available for
free at:

               http://ResearchArchives.com/t/s?2488

Founded in 1995, Irvine, Calif.-based New Century Financial
Corporation (NYSE: NEW) -- http://www.ncen.com/-- is a real
estate investment trust, providing mortgage products to borrowers
nationwide through its operating subsidiaries, New Century
Mortgage Corporation and Home123 Corporation.  The company offers
a broad range of mortgage products designed to meet the needs of
all borrowers.

The company and its debtor-affiliates filed for Chapter 11
protection on April 2, 2007 (Bankr. D. Del. Lead Case No.
07-10416).  Suzzanne Uhland, Esq., Austin K. Barron, Esq., and Ana
Acevedo, Esq., at O'Melveny & Myers LLP, and Mark D. Collins,
Esq., Michael J. Merchant, Esq., and Jason M. Madron, Esq., at
Richards, Layton & Finger, P.A., represent the Debtors.  The
Official Committee of Unsecured Creditors selected Hahn & Hessen
as its bankruptcy counsel and Blank Rome LLP as its co-counsel.
When the Debtors filed for bankruptcy, they listed total assets of
$36,276,815 and total debts of $102,503,950.  

The Debtors' exclusive period to file a plan expires on Nov. 28,
2007.  (New Century Bankruptcy News, Issue No. 24; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or       
215/945-7000).


NEWPOWER HOLDINGS: Files Operating Report for July 31 to August 31
------------------------------------------------------------------
NewPower Holdings Inc. filed its Monthly Operating Report for
the period from July 31, 2007, TO Aug. 31, 2007, with the U.S.
Bankruptcy Court for the Northern District of Georgia, Newnan
Division on Sept. 6, 2007.  The company reports an opening
cash balance of $1,722,000 and a closing cash balance of
$1,679,000.

A full-text copy of NewPower Holdings Inc.'s Monthly Operating
Report for the period from July 31, 2007, to Aug. 31, 2007, is
available at no charge at http://ResearchArchives.com/t/s?248c
  
NewPower Holdings Inc. (Pink Sheets: NWPWQ) and its debtor-
affiliates filed for chapter 11 protection on June 11, 2002
(Bankr. N.D. Ga. 02-10836). Paul K. Ferdinands, Esq., at King &
Spalding and William M. Goldman, Esq., at Sidley Austin Brown &
Wood LLP represent the Debtors.  When the Debtors filed for
chapter 11 protection, they reported $231,837,000 in assets and
$87,936,000 in debts.

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

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


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

The Chapter 7 Trustee reports that Refco LLC's beginning balance
as of August 1 totals $167,525,000.  The Debtor's beginning
purchase price account balance totals $5,021,000, while its
beginning capital account "A" balance aggregates $162,504,000.

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

During the Reporting Period, Refco LLC received $778,000 and
disbursed $82,009,000.  The Debtor held $86,294,000 at the end of
the period.

The Chapter 7 Trustee says the Monthly Statement is filed in lieu
of comprehensive financial statements.

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

               http://ResearchArchives.com/t/s?2489

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

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

The Court confirmed the Modified Joint Chapter 11 Plan of
Refco Inc. and certain of its Direct and Indirect Subsidiaries,
including Refco Capital Markets, Ltd., and Refco F/X Associates,
LLC, on Dec. 15, 2006.  That Plan became effective on Dec. 26,
2007. (Refco Bankruptcy News, Issue No. 71; Bankruptcy Creditors'
Service Inc., http://bankrupt.com/newsstand/or 215/945-7000).  

                             *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers'
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.  
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

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

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

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

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

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

                             *********

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

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

Copyright 2007.  All rights reserved.  ISSN: 1520-9474.

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