TCR_Public/071128.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

          Wednesday, November 28, 2007, Vol. 11, No. 282

                             Headlines


1755 AQUA: Wexford Balks at North Bay's Lift Stay Motion
1755 AQUA: Creditor Wants Minimum Bid Price Raised to $10 Million
AFFILIATED COMPUTER: Board Authorizes $1 Bil. Share Repurchase
AMERICAN AXLE: Paying $0.15 Per Share Cash Dividend on December 28
AMERICAN AXLE: Earns $13.1 Million in Third Quarter of 2007

AMERICAN HOME: Settles Prepetition Collections With ABN AMRO
AMERICAN HOME: Hires Cadwalader Wickersham as Special Counsel
AMERICAN HOME: Five Creditors Want to Foreclose More Properties
ANWORTH MORTGAGE: Plans Public Offering of $9 Mil. Common Stock
ASARCO: Parties Have Until Dec. 14 to Object to Discount Rate Plea

ASARCO: Asbestos Liabilities Estimation Hearing to Start on Jan. 2
BANK REPO: Files Amended Schedules of Assets & Liabilities
BIOJECT MEDICAL: PFG to Forbear Loan Payments Until June 2008
CAMARGO CORREA: Fitch Affirms 'BB' Issuer Default Rating
CARDIMA INC: Sept. 30 Balance Sheet Upside-Down by $18.8 Million

CHAMPION ENTERPRISES: To Close Alabama Manufacturing Facility
CHARLES BRADLEY: Case Summary & 20 Largest Unsecured Creditors
CHICAGO H&S: Court Gives Nod to Akin Gump as Co-Counsel
CHICAGO H&S: Court Approves Perkins Coie as Co-Counsel
CHICAGO H&S: U.S. Trustee Appoints Three-Member Creditors Panel

CITY OF HOMESTEAD: Fitch Withdraws BB+ Rating on $79.88MM Bonds
CITY OF HOMESTEAD: Fitch Rates $1.765MM Revenue Bonds at BB+
CORPUS CHRISTI: Section 341(a) Meeting Scheduled on December 12
CORPUS CHRISTI: Taps Thompson & Knight as Bankruptcy Counsel
DANA CORPORATION: Wants Pact Resolving Appaloosa Dispute Approved

DANA CORPORATION: Secures $2,000,000,000 Exit Financing
DIASYS CORP: Posts $163,219 Net Loss in 3rd Quarter Ended Sept. 30
DPL CAPITAL: Moody's Lifts Securities Rating to Baa3 from Ba1
DURA AUTOMOTIVE: Obtains Overwhelming Creditor Support on Plan
DUTCHMANS CREEK: Voluntary Chapter 11 Case Summary

EMERGENCY MEDICAL: Earns $14.7 Million in Third Quarter 2007
ENERGYTEC INC: Posts $2.1 Million Net Loss in Third Quarter 2007
EQUIFIRST MORTGAGE: Fitch Rates $7.6MM Class B-1 Certs. at BB-
EUROPEAN AMERICAN: U.S. Trustee Wants Case Trustee Appointed
EUROPEAN AMERICAN: Court Removes Stay on AlliedBarton's Sublease

FAIRPOINT COMM: Accepts Verizon's Pick for Board of Directors
FIELDSTONE MORTGAGE: Loan Delinquencies Spurs Bankruptcy Filing
FISHER COMMS: Posts $533,000 Net Loss in Third Quarter of 2007
FNBA MORTGAGE: Declining Credit Support Cues S&P to Cut Rating
FORD MOTOR: Strike Continues Despite Initial Wage Agreement

FORD MOTOR: Kentucky State Approves $60 Mil. Investment Incentives
FREMONT HOME: Fitch Lowers Ratings on $51.1 Million Certificates
GPS INDUSTRIES: Sept. 30 Balance Sheet Upside-Down by $1 Million
GS MORTGAGE: Fitch Holds 'BB+' Rating on $534 Mil. Class L Certs.
HALO TECHNOLOGY: Committee Hires Weiser LLP as Financial Advisor

HALO TECHNOLOGY: Court Okays Morris Manning as Special Counsel
HALO TECHNOLOGY: Hires David Rubin as Special Litigation Counsel
HARRISBURG AUTHORITY: Defaults on $84 Million Retrofit Bond
INTERACTIVE MOTOR: Sept. 30 Balance Sheet Upside-Down by $4.2 Mil.
INVERNESS MEDICAL: Acquiring ParadigmHealth Inc. for $230 Million

JAYS FOODS: $25,400,000 La Salle DIP Pact Gets Final Court Okay
JOHNSON JUNCTION: Case Summary & 26 Largest Unsecured Creditors
JUAN GARCIA: Case Summary & 4 Largest Unsecured Creditors
KESSLER HOSPITAL: Court Confirms Chap. 11 Plan of Reorganization
KING PHARMA: Posts $41 Million Net Loss in Third Quarter of 2007

LAFAYETTE NEIGHBORHOOD: Court Sets Pre-Trial Conference on Dec. 11
LAFAYETTE NEIGHBORHOOD: Excuse Motion Hearing Set for December 12
LAKE MARTIN: Section 341(a) Meeting Scheduled for December 6
LAKE MARTIN: Administrator Forms Six-Member Creditors Panel
LAKE MARTIN: Files Schedules of Assets and Liabilities

LEVITT AND SONS: Banking Parties Object to Cash Collateral Use
LEVITT AND SONS: Wants to Deliver Release of Resale Restriction
LEXINGTON RESOURCES: Sept. 30 Balance Sheet Upside-Down by $3.4 M.
LUMINENT MORTGAGE: Has 60 Days to Cure Default on $90 Mil. Notes
LUNA CRECIENTE: Voluntary Chapter 11 Case Summary

MAGNITUDE INFO: Sept. 30 Balance Sheet Upside Down by $2,598,066
MERITAGE MORTGAGE: Fitch Puts 'B' Ratings on Two Cert. Classes
METHANEX CORP: Finances $40 Million of GeoPark's Gas Exploration
MORTGAGE ASSET: Fitch Junks Rating on Class M-6 Certificates
MSB OF DESTIN: Case Summary & 20 Largest Unsecured Creditors

NANOBAC PHARMA: Sept. 30 Balance Sheet Upside-Down by $2,158,289
NEW CENTURY: Fitch Holds 'BB' Rating on $5.4MM Class B-2 Certs.
NORTHWEST PARKWAY: Fitch Withdraws Junk Rating on $431.8MM Bonds
NRG ENERGY: Supplements Offers to Purchase $4.7BB of Senior Notes
PARK PLACE: S&P Lowers Ratings on Six Certificate Classes

PEOPLE'S CHOICE: Fitch Puts Low-B Ratings on Three Cert. Classes
PERFORMANCE TRANSPORTATION: Taps Kurtzman Carson as Claims Agent
PETRO ACQUISITIONS: Voluntary Chapter 11 Case Summary
PETRO ACQUISTIONS: Committee Appointed in Gillespie & AFM's Cases
PETRO ACQUISITIONS: Frost Brown Tapped as Counsel in Units' Cases

QUAKER FABRIC: Want Until March 2008 to Remove Civil Actions
QUALITY HOMES: Ch. 11 Trustee Taps Lewis Landau as Bankr. Counsel
REABLE THERA: Completes $1.5 Billion Merger Deal with DJO Inc.
RESIDENTIAL ASSET: S&P Junks Rating on S.2004-F Class B-5 Trust
SALOMON BROTHERS: Fitch Holds 'B-' Ratings on Two Cert. Classes

SAN HOLDINGS: Files Chapter 7 Bankruptcy Petition in Colorado
SEQUOIA ALTERNATIVE: Moody's Cuts Rating on Class B-2 Loan to B1
SKILLSOFT PLC: Net Income Lowers to $6 Million in Third Quarter
SOUNDVIEW HOME: Fitch Cuts Rating on $5.2 Million Certs. to B
SOUNDVIEW HOME: High Delinqeuncy Cues Moody's to Cut Ratings

STAGE DOOR: Case Summary & 12 Largest Unsecured Creditors
STRUCTURED ADJUSTABLE: Moody's Cuts Rating on Class B6-I to B1
STRUCTURED ASSET: S&P Assigns Default Rating on Class B2 Certs.
SUNTRUST ALTERNATIVE: Moody's Junks Rating on Class B-3 Loans
TERWIN MORTGAGE: Fitch Downgrades Ratings on $9.4 Million Certs.

TESORO CORP: Rights Plan Raises Concern from Tracinda Corp.
TRADEX SWISS AG: Chapter 15 Petition Summary
TRANSOCEAN INC: UK Regulators Clear Way for GlobalSantaFe Merger
UBS MASTR: Fitch Cuts Rating on $3.4MM Class M-10 Certs. to BB
WAMU COMMERCIAL: Fitch Affirms 'B-' Rating on $639,000 Certs.

WETCO RESTAURANT: Court OKs Sale of 20 Locations for $5.5 Million
WOLVERINE TUBE: To Halt Decatur and Booneville Plumbing Operations

* Continued Poor Credit Leads Fitch to Initiate Formal Review
* Moody's Takes Rating Actions on Various Transactions

* Beard Group's Featured Conference for November 2007
* Drinker Biddle Fortifies with 13 Lawyers from Connelly Sheehan

* Upcoming Meetings, Conferences and Seminar


                             *********

1755 AQUA: Wexford Balks at North Bay's Lift Stay Motion
--------------------------------------------------------
Wexford High Yield Debt Fund I LLC, secured creditor of 1755 Aqua
Vista II LLC, asks the U.S. Bankruptcy Court for the Southern
District of Florida to deny North Bay Village Investment Trust
LLC's motion to lift the automatic stay of the Debtor or in the
alternative dismiss the Debtor's case.

According to Wexford, North Bay failed to satisfy the Phoenix
Piccadily factors, and only established two of the six factors
which are (a) the Debtor is a single real estate asset entity and
(b) the assets are subject to foreclosure actions as a result of
the Debtor's default on its obligations to its mortgages.

Wexford expressed disagreement with North Bay's claim that the
Debtor's chapter 11 filing is an attempt to abuse the judicial
process and frustrate the legitimate efforts of the first and
second mortgagees to enforce their rights.

The Debtor's real estate property is encumbered with three
mortgages: (a) first mortgage holder North Bay in the amount of
$8,580,291, (b) second mortgage holder, Jeffrey Levitin, in the
amount of $1,900,000, and (c) third mortgage holder, Wexford High,
in the amount of $5,350,000.

Wexford contends that North Bay's motive to lift the automatic
stay of the Debtor and to dismiss its bankruptcy case is to
foreclose on the assets without regard to the junior secured
creditors, Mr. Levitin and Wexford, and the general unsecured
creditors with an aggregate claim of more than $1.6 million based
on the Debtor's list of top 20 unsecured creditors.

Wexford contradicts North Bay's assertion that the Debtor's
financial problems are nothing more than a dispute between North
Bay and the Debtor since there are additional creditors with a
stake in the Debtor's assets.  Wexford continues that, "[al]though
North Bay is a senior creditor, it is not the only creditor."  
Wexford believes that a sale under Section 363 of the Bankruptcy
Code is the only shot the junior secured creditors, and if
possible, general unsecured creditors, have of any recovery.

In addition, Wexford states that the dismissal of the Debtor's
case will deny its legitimate protections afforded in bankruptcy.

While North Bay does not believe that the Debtor's filing is
impermissible, Wexford states the Court's position that "[t]there
is nothing inherently improper for a debtor with one asset to
attempt to reorganize its affairs under the rehabilitative
provision of the Code.  "A planned liquidation of the Debtor's
assets is equally not offensive" to the Code, according to
Wexford.  This claim is supported by the Debtor's motion to sell
and its motion to retain an auctioneer.

In this regard, Wexford requests the Court to deny North Bay's
motion and to proceed with the state foreclosure action against
the Debtor.

Lawyers at Katten Muchin Rosenman LLP and Stearns Weaver Miller
Weissler Alhadeff & Sitterson P.A. represent Wexford in this case.

                    Debtor's Debt to Wexford

On May 12, 2006, Mr. Eli Hadad, the Debtor's principal and
managing member, executed a promissory note to Wexford promising
to pay the sum of $2,350,000, plus interest at the rate  of the
lesser of 5% and the maximum interest rate allowed under Florida
law.

The note is secured by a mortgage in the name of Mr. Hadad, the
Debtor and other related parties on the assets.  In addition to
the mortgage, Wexford acquired a first lien on and first priority
perfected security interest in Mr. Hadad's interests in the
Debtor.

Also on May 12, the Debtor executed a guaranty of full and prompt
payment of its obligations to Wexford.  Pursuant to the terms of
loan documents (note, mortgage, ownership pledge, and continuing
guaranty), Mr. Hadad and the Debtor were obligated to make monthly
payments due on the first of the beginning beginning June 1, 2006,
through Nov. 12, 2006.

Subsequently, Mr. Hadad and the Debtor defaulted in their
obligations under the loan documents.  An overleveraged debt
structure and the downturn in the real estate market in South
Florida precipitated the Debtor's financial collapse resulting in
the Debtor's inability to pay its obligations.

As of the Debtor's bankruptcy filing, Mr. Hadad and the Debtor owe
Wexford in the principal amount of $2,350,000, plus accrued
interest and costs.

                 North Bay's Motion to Lift Stay

The TCR also reported that North Bay, 1755 Aqua's single largest
secured creditor, asked the Court to dismiss the chapter 11
bankruptcy case of the Debtor and remove its automatic stay
alleging bad faith filing.

The Debtor, according to North Bay, has nothing to reorganize, has
no equity in property, is a single asset real estate with raw land
only, and has no liability insurance on its property.  North Bay
points to the Debtor's parcel of land in North Bay Village,
Florida with a market value of $9,408,955.

                     About 1755 Aqua Vista

North Miami, Florida-based 1755 Aqua Vista II LLC owns and
develops real estate in North Bay Village in Miami-Dade County,
Florida.  The Debtor filed for chapter 11 bankruptcy on Oct. 24,
2007 (Bankr. S.D. Fl. Case No. 07-19056).  Scott Alan Orth, Esq.
at The Law Offices of Scott Alan Orth, PA, represents the Debtor
in its restructuring efforts.

North Bay Village Investment Trust LLC, formerly Peninsula Bank,
is the Debtor's largest secured creditor with an $8 million claim
under a final judgment of mortgage foreclosure issued by the
Miami-Dade Circuit Court.  North Bay holds a first priority lien
on the Debtor's real property.  James B. Miller, Esq., is North
Bay's counsel.

The Debtor's schedules show total assets of $14,000,000 and total
liabilities of $6,140,958.


1755 AQUA: Creditor Wants Minimum Bid Price Raised to $10 Million
-----------------------------------------------------------------
Jeffrey Levitin, secured creditor and trustee to the mortgage
claims of North Bay Village Investment Trust and Wexford High
Yield Debt Fund I LLC, asks the U.S. Bankruptcy Court for the
Southern District of Florida to deny 1755 Aqua Vista II LLC's
motion to auction its assets for $8,000,000, or in the
alternative, place a $10,000,000 minimum bid on the assets.

Mr. Levitin relates that the Debtor's case is essentially a single
asset consisting of a single piece of vacant land with a
construction trailer located in Miami, Florida.

Mr. Levitin adds that the real property is encumbered by three
separate mortgages held by (a) first mortgage holder North Bay in
the amount of $8,580,291, (b) second mortgage holder, Mr. Levitin,
in the amount of $1,900,000, and (c) third mortgage holder,
Wexford High, in the amount of $5,350,000.

On information, Mr. Levitin says that the current fair market
value of the real property does not exceed the mortgages and that
two of the mortgages are in default.  Mr. Levitin adds that the
Debtor has allowed the real property to be compromised, placing
the mortgages' collateral in jeopardy.

Mr. Levitin tells the Court that the secured creditors are not
adequately protected if the property is sold for less than
$10,000,000.

Stanley Dale Klett, Esq., at Rutherford Mulhall, PA represents Mr.
Levitin.

As reported in the Troubled Company Reporter on Nov. 27, 2007,
1755 Aqua asked the Court for permission to sell its real
estate assets at an auction.

The Debtor proposes that bidders may participate in the auction by
depositing 5% of their bid and providing evidence of their
financial wherewithal to close on a proposed sale.

The proposed minimum initial bid will be $8,000,000.  Overbids at
the auction will be in $50,000 increments.

Additionally, the Debtor proposes that the auction be scheduled
the same day as the sale hearing.

The Debtor also asked the Court for permission to employ Sheldon
Good & Company Auctions Inc. as its real estate assets auctioneer.

                     About 1755 Aqua Vista

North Miami, Florida-based 1755 Aqua Vista II LLC owns and
develops real estate in North Bay Village in Miami-Dade County,
Florida.  The Debtor filed for chapter 11 bankruptcy on Oct. 24,
2007 (Bankr. S.D. Fl. Case No. 07-19056).  Scott Alan Orth, Esq.
at The Law Offices of Scott Alan Orth, PA, represents the Debtor
in its restructuring efforts.

North Bay Village Investment Trust LLC, formerly Peninsula Bank,
is the Debtor's largest secured creditor with an $8 million claim
under a final judgment of mortgage foreclosure issued by the
Miami-Dade Circuit Court.  North Bay holds a first priority lien
on the Debtor's real property.  James B. Miller, Esq., is North
Bay's counsel.

The Debtor's schedules show total assets of $14,000,000 and total
liabilities of $6,140,958.


AFFILIATED COMPUTER: Board Authorizes $1 Bil. Share Repurchase
--------------------------------------------------------------
Affiliated Computer Services Inc.'s board of directors has
endorsed a proposed $1 billion share repurchase program and has
authorized the company to purchase up to $200 million of the
company's Class A Common Stock, effective immediately, under the  
program.

ACS management and the board will continually evaluate the timing
of these share repurchases and will consider factors such as the
company's cash and debt levels, the condition of the debt markets,
alternative investment opportunities, and other business trends.

Subject to its ongoing evaluation of these factors, the board
anticipates authorizing additional share repurchases under the $1
billion share program.  The company may purchase shares of Class A
common stock from time to time in the open market or in privately
negotiated transactions.

In 2006 the company repurchased 27.2 million shares of Class A
common stock at a cost of approximately $1.46 billion.

Darwin Deason, chairman of the board of directors of the company,
filed a notification under the Hart-Scott-Rodino Antitrust
Improvements Act for the acquisition of up to an additional one
million shares of the company's Class A common stock after
expiration or termination of the waiting period under the Act.

The company was notified that the waiting period under the Act has
been terminated and that it is permissible for Mr. Deason to begin
acquiring company shares.  Any purchases of company shares by Mr.
Deason, however, would be aggregated with shares repurchased by
the company for purposes of calculating daily purchase volume
limits applicable to the company and Mr. Deason.

Therefore, in order to ensure that the company is able to execute
the share repurchase program described above in the most effective
manner for the benefit of shareholders,
Mr. Deason has elected not to begin acquiring company shares at
this time.

               About Affiliated Computer Services

Headquartered in Dallas, Affiliated Computer Services Inc. (NYSE:
ACS) -- http://www.AffiliatedComputer-inc.com/-- provides  
business process outsourcing and information technology solutions
to world-class commercial and government clients.  The company has
more than 58,000 employees supporting client operations in nearly
100 countries.  The company has global operations in Brazil,
China, Dominican Republic, India, Guatemala, Ireland, Philippines,
Poland, and Singapore.

                        *     *     *

As reported in the Troubled Company Reporter on Nov. 6, 2007,
Standard & Poor's Ratings Services kept its 'BB' corporate credit
and senior secured ratings on Affiliated Computer Services Inc. on
CreditWatch with negative implications, where they were placed on
March 20, 2007.


AMERICAN AXLE: Paying $0.15 Per Share Cash Dividend on December 28
------------------------------------------------------------------
American Axle & Manufacturing Holdings Inc. has declared a cash
dividend of $0.15 per share payable on Dec. 28, 2007, to
stockholders of record on all of the company's issued and
outstanding common stock as of Dec. 7, 2007.

Headquartered in Detroit, Michigan, American Axle & Manufacturing
Holdings, Inc. (NYSE:AXL) -- http://www.aam.com/-- and its wholly  
owned subsidiary, American Axle & Manufacturing Inc.,
manufactures, engineers, designs and validates driveline and
drivetrain systems and related components and modules, chassis
systems and metal-formed products for light trucks, sport utility
vehicles and passenger cars.  In addition to locations in the
United States (in Michigan, New York and Ohio), the company also
has offices or facilities in Brazil, China, Germany, India, Japan,
Luxembourg, Mexico, Poland, South Korea and the United Kingdom.

                          *     *     *

Moody's Investors Service recently affirmed American Axle &
Manufacturing Holdings Inc.'s Corporate Family rating of Ba3 as
well as the senior unsecured rating of Ba3 to American Axle &
Manufacturing Inc.'s notes and term loan.


AMERICAN AXLE: Earns $13.1 Million in Third Quarter of 2007
-----------------------------------------------------------
American Axle & Manufacturing Holdings Inc. reported sales and
earnings for the third quarter of 2007.

American Axle's net earnings in the third quarter of 2007 were
$13.1 million.  This compares to a net loss of $62.9 million in
the third quarter of 2006.

American Axle's earnings in the third quarter of 2007 reflect
the impact of special charges and other non-recurring operating
costs of $7.8 million, primarily related to the redeployment of
machinery and equipment and other actions to rationalize
underutilized capacity.  Also included in this total were charges
of $2.7 million, associated with a voluntary separation program
offered to hourly associates represented by the UAW at American
Axle's Buffalo Gear, Axle & Linkage facility in Buffalo, New York.

American Axle's earnings in the third quarter of 2007 also
reflect the impact of a work stoppage experienced by its largest
customer, GM, during the last week of September.  American Axle
estimates the impact of lost sales and other costs and expenses
related to this work stoppage to be approximately $2.8 million in
the third quarter of 2007.

American Axle's earnings in the third quarter of 2006 included a
special charge of $91.2 million related to the supplemental
unemployment benefits estimated to be payable to UAW associates
who were expected to be permanently idled through the end of the
current contract period in February 2008.  American Axle also
recorded a $1.9 million special charge in the third quarter of
2006 related to estimated postemployment costs for associates at
its European operations.

"In the third quarter of 2007, American Axle continued to
achieve solid gains in productivity and made steady progress on
its ongoing structural cost-reduction initiatives," said
American Axle's Co-Founder, Chairman of the Board & Chief
Executive Officer Richard E. Dauch.  "American Axle will
continue to take the necessary actions to achieve sustainable
market cost competitiveness in our global operations.  This
includes a strategic emphasis on improving American Axle's
manufacturing capacity utilization and jointly developing new
innovative labor agreements to enhance American Axle's operating
efficiency and flexibility."

Net sales in the third quarter of 2007 were $774.3 million as
compared to $701.2 million in the third quarter of 2006.  Customer
production volumes for the full-size truck and SUV programs
American Axle currently supports for General Motors and Chrysler
were approximately the same as compared to the prior year.
American Axle estimates that customer production volumes for its
mid-sized truck and SUV programs increased approximately 25% in
the quarter on a year-over-year basis.  Non-GM sales represented
approximately 24% of American Axle's total sales in the third
quarter of 2007.

Net sales in the first three quarters of 2007 were $2.5 billion,
as compared to $2.4 billion in the first three quarters of 2006.  
Gross margin was 11.2% in the first three quarters of 2007 as
compared to 3.8% for the first three quarters of 2006.  Operating
income for the first three quarters of 2007 was $123.5 million or
5.0% of sales as compared to an operating loss of $54.5 million or
negative 2.3% of sales for the first three quarters of 2006.

At Sept. 30, 2007, the company's balance sheet showed total assets
of $3.0 billion and total liabilities of $2.1 billion, resulting
in a stockholders' equity of $872.4 million.  Equity at Dec. 31,
2006, was $813.7 million.

Headquartered in Detroit, Michigan, American Axle & Manufacturing
Holdings, Inc. (NYSE:AXL) -- http://www.aam.com/-- and its wholly  
owned subsidiary, American Axle & Manufacturing, Inc.,
manufactures, engineers, designs and validates driveline and
drivetrain systems and related components and modules, chassis
systems and metal-formed products for light trucks, sport utility
vehicles and passenger cars.  In addition to locations in the
United States (in Michigan, New York and Ohio), the company also
has offices or facilities in Brazil, China, Germany, India, Japan,
Luxembourg, Mexico, Poland, South Korea and the United Kingdom.

                          *     *     *

Moody's Investors Service recently affirmed American Axle &
Manufacturing Holdings Inc.'s Corporate Family rating of Ba3 as
well as the senior unsecured rating of Ba3 to American Axle &
Manufacturing Inc.'s notes and term loan.


AMERICAN HOME: Settles Prepetition Collections With ABN AMRO
------------------------------------------------------------
American Home Mortgage Investment Corp. and certain of its
debtor-affiliates and ABN AMRO Bank N.V. entered into a second
stipulation for reconciliation of prepetition collections.  

Copies of the Reconciliation Stipulation and the reconciliation
of other prepetition funds held in a construction loan lockbox
account were provided to the Official Committee of Unsecured
Creditors, Bank of America NA, and the Debtors' postpetition
financing lender.

Among the key terms of the second Court-approved Reconciliation
Stipulation are:

   -- The Parties agree to a reconciliation of the prepetition
      collections aggregating $1,519,522, which may be
      transferred to the control account maintained by the
      Debtors for the benefit of ABN AMRO; and

   -- Nothing in the Reconciliation Stipulation modify, terminate
      or transfer the Debtors' rights to service or administer
      any mortgage loans and related activities.

Previously, certain of the Debtors and ABN AMRO entered into a
Court-approved stipulation to, among other things, permit, but
not obligate, ABN AMRO to fund certain additional mortgagor
advances by ABN MRA Debtors, and to authorize and direct ABN
AMRO to make servicing payments to the Debtors for continued
postpetition servicing of certain mortgage loans.  The U.S.
Bankruptcy Court for the District of Delaware's order approving
the Advances Stipulation prohibited the use of any prepetition
collections by the Debtors absent further order of the Court.

The Debtors and ABN AMRO are parties to a Master Repurchase
Agreement, in which the Debtors are the sellers and American
Home Mortgage Servicing Inc. is the servicer and ABN is the buyer.  
The Debtors and ABN were also parties to a number of additional
agreements related to the ABN MRA, including but not limited to:

   -- a Custodial Agreement;
   -- an Account Control Agreement;
   -- an Electronic Tracking Agreement;
   -- a Letter Agreement; and
   -- a Performance Guaranty.

ABN stated that pursuant to the Agreements and during a five-
month period prior to the Petition Date, ABN purchased from the
Sellers approximately 430 mortgage loans for $222,000,000.  The
Loans are residential construction loans made by the Sellers to
mortgagors who are constructing or renovating single-family
homes.

ABN asserted that as of July 31, 2007:

   (a) the Mortgagors owed approximately $145,000,000, in
       connection with advances made;

   (b) up to approximately $77,000,000 in additional advances
       were available to be drawn by the Mortgagors to fund the
       completion of the construction projects.

Under the Agreements, the Debtors funded the Mortgagor Advances
through the sale of the Mortgage Loans to ABN.

Prior to the commencement of the bankruptcy cases, on August 1,
2007 and August 3, 2007, ABN delivered to the Debtors notices of
events of default.

ABN argued that it delivered a letter pursuant to which ABN
consented to the Debtors' use of postpetition collection on a
one-time basis for $355,668, to make additional Mortgagor
Advances.

In a Court-approved stipulation, the parties agreed that:

   -- the Debtors are authorized to make funding requests to ABN
      in the manner provide for in the Agreements for $32,000,000
      to fund Additional Mortgagor Advances;

   -- all collections received by the Debtors on and after the
      Petition Date will be deposited into a "buyer account" or
      in a segregated Debtor-in-Possession account;

   -- the Debtors will account to ABN all collections received by
      any of the Sellers prior to the Petition Date;

   -- all Prepetition Date Collections in the possession of the
      Debtors will not be used by any of the Debtors for any
      purpose except pursuant to further order of the Court;

   -- ABN is authorized to provide funds, but has no obligation
      to do so, to Sellers for the Additional Mortgagor Advances
      and is authorized and directed to make servicing payments
      by:

        (a) written authorization to the Debtors to use
            postpetition collections to fund the Mortgagor
            Advances and Servicing Payments; or

        (b) in the event there are insufficient Postpetition
            Collections to fund the requested Mortgagor Advances
            or Servicing Payments, by making transfers of funds
            to the Debtors pursuant to all the terms and
            conditions of the Agreements;

   -- the ABN advances will be governed in all respects by the
      Agreements;

   -- the ABN advances are not and will never become a "property
      of the estate;"

   -- ABN will not, in respect of any ABN Advances or expenses
      incurred in connection with the transactions contemplated,
      assert:

        (a) an administrative or priority claim against any of
            the Debtors; and

        (b) a lien against or security interest in any property
            of any Debtor's estate which constitutes "Prepetition
            Collateral;"

   -- the Debtors are authorized to submit monthly requests to
      ABN for payment of ABN's pro-rata share of the budget and
      ABN will make servicing payments not exceeding 80 percent
      of the monthly budgeted amounts; and

   -- the Debtors will continue to provide ABN with reports on
      collections, Mortgagor Advances, and related matters in the
      same manner the Sellers accounted to ABN prior to the
      Petition Date in accordance with the Agreements.

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


AMERICAN HOME: Hires Cadwalader Wickersham as Special Counsel
-------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware has
approved the application of American Home Mortgage Investment
Corp. and its debtor-affiliates to employ Cadwalader,
Wickersham & Taft LLP as their special counsel on non-
bankruptcy matters, nunc pro tunc to Aug. 6, 2007.

The Court ruled that Cadwalader Wickersham will be employed
as special counsel for these matters:

   -- from Aug. 6, 2007, through Sept. 26, 2007, non-bankruptcy
      transactional work with respect to the sale of the Debtors'
      loan servicing business;

   -- from Aug. 6, 2007, through Sept. 3, 2007, Debtors's
      representation in connection with the inquiry of the
      Securities and Exchange Commission;

   -- non-bankruptcy transactional work with respect to the sale
      of a non-debtor bank entity; and

   -- Debtors' representation in a prepetition litigation
      entitled American Home Mortgage Com. v. Union Federal Bank
      of Indianapolis.

Judge Sontchi noted that Cadwalader is not authorized to
represent the Debtors in connection with other litigation matters
referenced in the application.  He also said that the Debtors'
application to employ Cadwalader in connection with the
securities class action litigation matters is adjourned to a date
to be determined by the Debtors in consultation with the U.S.
Trustee and the Official Committee of Unsecured Creditors.

Michael Strauss, the Debtors' chief executive officer, informed
the Court that the Debtors will pay Cadwalader on an hourly basis,
plus reimbursement of actual and necessary charges.  Cadwalader's
rates are subject to periodic adjustment to reflect economic and
other conditions.  Cadwalader's current hourly rates are:

     Partners                        $495 - $1,000
     Attorney/Counsel                $230 -   $675
     Legal Assistants                 $60 -   $225

Mr. Strauss disclosed that Cadwalader has received approximately
$3,700,000 for its prepetition services since Aug. 1, 2006.  He
further disclosed that, as of Aug. 6, 2007, Cadwalader was
holding an advance retainer of approximately $1,000,000 for its
services for the Debtors.  The Retainer will be applied against
postpetition fees and expenses as approved by the Court.

Gregory M. Petrick, Esq., a member of Cadwalader, disclosed that
the firm represented certain clients in mortgage purchase and
other transactions with the Debtors, including Credit Suisse
Securities (USA) LLC, JPMorgan Securities Inc., Merrill Lynch
Global Markets, UBS Securities LLC, Natixis Capital Markets Inc.,
Morgan Stanley Co., Inc., Barclays Capital Inc., Goldman, Sachs &
Co., and Citigroup Global Markets, Inc.  However, he assures
Judge Sontchi that Cadwalader does not hold or represent an
interest that is adverse to the bankruptcy estate.  

                       About American Home

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


AMERICAN HOME: Five Creditors Want to Foreclose More Properties
---------------------------------------------------------------
Five creditors of American Home Mortgage Investment Corp. and
its debtor-affiliates separately ask the U.S. Bankruptcy Court
for the District of Delaware to lift the automatic stay imposed
under Section 362 of the Bankruptcy Code on several grounds,
including defaults under certain notes and superior liens, in
connection with certain parcel of real properties located at:

   -- 4 W. Oak Ave., in La Grange Park, Illinois 60526;

   -- 5 N 699 E Ridgewood Drive, in Saint Charles,
      Illinois 60175;

   -- 124 Lorraine Road, in Wheaton, Illinois 60187;

   -- 211 Cotton Ridge Lane A-D, in Spartanburg, South
      Carolina 29302;

   -- 633 Meadowbrook Road, in Uniondale, New York 11553;

   -- 3502 Taggett Lake Court, in Highland, Michigan 48357;

   -- 4940 W. Wabansia Ave., in Chicago, Illinois 60639;

   -- 6264 Golden Trails Avenue, in Rancho Cucamonga,
      California 91739;

   -- 8560 Queensway Blvd, #1503, in Myrtle Beach, South
      Carolina 29752.

The five creditors, all of which are represented by Adam Hiller,
Esq., at Draper & Goldberg, PLLC, in Wilmington, Delaware, are:

   (1) Aurora Loan Services LLC;

   (2) Countrywide Home Loans;

   (3) Lexington State Bank;

   (4) Mortgage Electronic Registration Systems c/o Aurora Loan
       Services, LLC

   (5) Wells Fargo Bank, N.A., as Trustee, c/o Countrywide Home
       Loans.

Mr. Hiller relates that Aurora Loan, et al., are the current
holder of the Properties' mortgages and notes.  He adds that
review of the Properties' titles shows that the Debtors may hold
a lien junior to Aurora Loan, et al.'s senior mortgages.

The obligors of the Properties are currently in default under the
Notes, thus, Aurora Loan, et al., seek to exercise their non-
bankruptcy rights and remedies with respect to the Notes,
including the enforcement of their rights against the Mortgages,
Mr. Hiller tells the Court.

Because the Debtors' Junior Mortgages are subordinate to the
Senior Mortgages, the Debtors have no equity in the Properties,
Mr. Hiller says.  In addition, because the Junior Mortgages add
little or no value to the bankruptcy estates, the Properties are
not necessary for the Debtors' reorganization, he tells the
Court.

Hence, Mr. Hiller contends, relief from the automatic stay is
appropriate under Section 362(d)(2) of the Bankruptcy Code to
permit Aurora Loan, et al., to exercise their rights and remedies
with respect to the Mortgages.

A continued stay of Aurora Loan, et al.'s action against the
Obligors and the Properties will cause significant prejudice to
them, Mr. Hiller notes.  Therefore, he asserts, "cause" exists to
terminate the automatic stay.

                    Prior Foreclosure Approval

The Court previously granted the requests, and terminated the
automatic stay with respect to the Aurora Loan, et al.'s
interests in the Debtors' properties.  The Court permitted
Aurora Loan, et al., to exercise their rights under applicable
non-bankruptcy law against the Properties.

In that previously approved foreclosure, six creditors
separately sought foreclosure on these real properties located
at:

   -- 215 Madison Street, in Oceanside, California 92057;
   -- 257 Creekside Drive, in Bolingbrook, Illinois 60440;
   -- 956 East 231st Street, in Bronx, New York 10462;
   -- 10373 Walnut Way, in Kelseyville, California 95451;
   -- 13490 Chivers Avenue, in Los Angeles, California 91342;
   -- 26529 Lido Drive, in Murrieta, California 92563;
   -- 29360 Gandolf Court, in Murrieta, California 92563;
   -- 8204 McClelland Pl., in Alexandria, Virginia 22309; and
   -- 8559 S. Escanaba Avenue, in Chicago, Illinois 60617.

The six creditors were:

   (1) Aurora Loan Services LLC;

   (2) Bank of New York, as Trustee, c/o Countrywide Home Loans;

   (3) Countrywide Home Loans;

   (4) Federal National Mortgage Association c/o Aurora Loan
       Services, LLC;

   (5) Lehman Brothers LBB c/o Aurora Loan Services, LLC; and

   (6) Wells Fargo Bank, N.A., as Trustee, c/o Countrywide Home
       Loans.

                       About American Home

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


ANWORTH MORTGAGE: Plans Public Offering of $9 Mil. Common Stock
---------------------------------------------------------------
Anworth Mortgage Asset Corporation plans to make a public offering
of 9 million shares of its common stock.  Anworth has granted the
underwriters an option, exercisable for 30 days, to purchase up to
an additional 1,350,000 shares of common stock to cover over-
allotments, if any.

The net proceeds from the offering are expected to be
approximately $60.5 million, or approximately $69.6 million if the
underwriters' over-allotment option is exercised in full, and
Anworth expects to use all of the net proceeds from this offering
to acquire agency mortgage-backed securities.

Deutsche Bank Securities Inc. is acting as sole book-runner and
Friedman, Billings, Ramsey & Co., Inc., JMP Securities LLC and
Sterne, Agee & Leach, Inc. are acting as co-managers.

The offering will be made pursuant to Anworth's existing shelf
registration statement filed with the Securities and Exchange
Commission.  The offering is made by means of a prospectus only
which may be obtained from:

     Deutsche Bank Securities Inc.
     4th Floor, No. 60 Wall Street  
     New York, NY 10005.

            About Anworth Mortgage Asset Corporation

Headquartered in Santa Monica, California, Anworth Mortgage Asset
Corporation (NYSE:ANH) -- http://www.anworth.com/-- is a mortgage  
real estate investment trust which invests in mortgage assets,
including mortgage pass-through certificates, collateralized
mortgage obligations, mortgage loans and other real estate
securities.   Anworth generates income for distribution to
shareholders primarily based on the difference between the yield
on its mortgage assets and the cost of its borrowings.  Through
its subsidiary, Belvedere Trust Mortgage Corporation, Anworth also
invests in high quality jumbo adjustable-rate mortgages and
finances these loans though securitizations.

                          *     *     *

On Aug. 9, 10 and 17, 2007, Belvedere Trust Mortgage Corporation,
the company's wholly owned subsidiary, received margin calls that
it was unable to meet, resulting in defaults under certain
repurchase agreements.  The total amount of the repurchase
agreement obligations relating to the defaults was approximately
$139 million and the total arrearage is approximately $1.8 million
as of Nov. 5, 2007.


ASARCO: Parties Have Until Dec. 14 to Object to Discount Rate Plea
------------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Texas, at
the request of ASARCO LLC and its debtor-affiliates, extended the
deadline, until Dec. 14, 2007, for parties-in-interest to object
to the Debtors' motion to determine the appropriate base year and
discount rate to be applied to all Unsecured Future Claims.  By
filing the Discount Rate Motion, the Debtors seek to reduce the
present value of future non-personal injury claims.

The Debtors had asked the Court to establish a 7% discount rate to
be applied to all Unsecured Future Claims to calculate the net
present value as of its bankruptcy filing.

The Debtors related that in order to obtain confirmation of a plan
of reorganization, the Court must determine or estimate, among
other things, the amount of the unsecured claims, including future
asbestos, environmental, rejection damages, toxic tort, and other
unsecured liabilities that will mature in the future.  Tony M.
Davis, Esq., at Baker Botts, L.L.P., in Houston, Texas, said that,
in many instances, these liabilities will not mature for years or
perhaps decades after the Debtors' bankruptcy filings and the
effective date of any plan of reorganization.

The Unsecured Future Claims subject to the Discount Rate Motion
are limited to claims that are unsecured, non-priority, similarly
situated, and that accrue or mature in the future.

Mr. Davis noted that Section 502(b) of the Bankruptcy Code
requires discounting Unsecured Future Claims to present value.  
Section 502(b) provides that the court "shall determine the
amount of such claim in lawful currency of the United States as
the date of the filing of the petition, and shall allow such
claim in such amount . . ."

Section 101(5), Mr. Davis further noted, operates to accelerate
all unmatured claims against a debtor.  Thus, creditors whose
claims will not mature for many years are able to file a proof of
claim that seeks payment of all amounts owed to them as of the
Petition Date, even if those amounts are unmatured, he contends.

Mr. Davis added that courts have recognized the need to discount
Unsecured Future Claims to present value in a variety of
bankruptcy related contexts like the discount rate used in future
asbestos-related personal injury claims in In re Armstrong World
Indus., Inc., 348 B.R. 111, 133(D. Del. 2006).

To further the goal of equality of treatment, Mr. Davis asserted,
a uniform discount rate must be used to calculate NPV of all
future unsecured claims.  The appropriate discount rate, he
elaborates, is not determined on a case-by-case or claim-by-claim
basis; instead, the same discount rate should be applied to the
entire class of general unsecured claims.

The Unsecured Future Claims subject to the Debtors' request does
not include personal injury claims or personal injury asbestos
"demands" that may be channeled to an asbestos trust pursuant to
Section 524(g).  Mr. Davis contended that future asbestos
liabilities are of a completely different character.  They are
"similarly situated" and they do not constitute "claims" at all.  
Instead, Mr. Davis said they are described as "demands" by
Section 524(g), which provides special guidelines for how these
demands must be treated in a plan of reorganization.

The 7% discount rate, according to Mr. Davis, is between the
extremes of a "risk free investor" rate and a "speculative
investor" rate.

                         About ASARCO LLC

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

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

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

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

The Debtors' exclusive period to file a plan expires on Feb. 11,
2008.  (ASARCO Bankruptcy News, Issue No. 60; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000).


ASARCO: Asbestos Liabilities Estimation Hearing to Start on Jan. 2
------------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Texas, at
the request of ASARC

Chief Judge Edith H. Jones of the U.S. Court of Appeals for the
Fifth Circuit temporarily assigns Judge Elizabeth W. Magner of
the U.S. Bankruptcy Court for the Eastern District of Louisiana
to the Southern District of Texas to mediate the asbestos
liabilities proceedings of ASARCO LLC.

Judge Magner will remain in the Southern District of Texas until
ASARCO's asbestos issues are resolved, Judge Jones says.

On October 29 to 31, 2007, ASARCO, the Official Committee of
Unsecured Creditors for the  Asbestos Subsidiary Debtors, the
Future Claims Representative,  and other parties-in-interest
attended a three-day initial mediation session in New Orleans
before Judge Magner.

The estimation hearing on ASARCO's asbestos liabilities will
begin January 2, 2008.

                         About ASARCO LLC

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

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

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

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

The Debtors' exclusive period to file a plan expires on Feb. 11,
2008.  (ASARCO Bankruptcy News, Issue No. 60; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000).


BANK REPO: Files Amended Schedules of Assets & Liabilities
----------------------------------------------------------
Bank Repo Auto Inc. filed with the U.S. Bankruptcy Court for the
Central District of California its schedules of assets and
liabilities, disclosing:

     Name of Schedule               Assets       Liabilities
     ----------------             -----------    -----------
  A. Real Property                $   -0-        $    -0-   
  B. Personal Property             10,795,000         
  C. Property Claimed as
     Exempt                    
  D. Creditors Holding
     Secured Claims                               811,647.73
  E. Creditors Holding
     Unsecured Priority
     Claims                                       724,959.82
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                       314,512.73
                                  -----------  -------------
     TOTAL                        $10,795,000  $1,851,120.28
                                  ===========  =============

                         About Bank Repo

Headquartered in Tarzana, California, Bank Repo Auto Inc. filed
for Chapter 11 bankruptcy protection on Aug. 17, 2007 (Bankr. C.D.
Calif. Case No. 07-12949).  Joseph L. Pittera, Esq., in Torrance,
Calif., represents the Debor in its restructuring efforts.  When
the company filed for protection from its creditors, it listed
assets and debts between $1 million to $100 million.


BIOJECT MEDICAL: PFG to Forbear Loan Payments Until June 2008
-------------------------------------------------------------
Bioject Medical Technologies Inc. has requested and entered into a
forbearance agreement with Partners for Growth LP with respect to
its outstanding term and convertible debt agreements.  PFG has
agreed to forbearance until no later than June 1, 2008, and has
agreed not to declare an Event of Default or exercise other
remedies under the PFG loans with respect to certain specified
events.  

The company has agreed to pay down $550,000 of its revolving line
of credit and to reprice PFG's convertible debt note and warrants
to $0.90 per share.

In addition, the company has entered into convertible debt
financing with Mr. Ed Flynn, a private investor, who will be
rejoining the board of directors.  In addition to the funding
provided by Mr. Flynn, Bioject's CEO and other executive officers
and a member of the board are also participating in this round of
funding.  Pursuant to these agreements, the company has received
or has commitments to receive an aggregate of $615,000.

Mr. Flynn, a private investor and previous board member of
Bioject, has provided additional funding to assist in moving the
company forward as the new CEO pursues new opportunities.

The funds will give Bioject financial strength to carry it into
the next year, allowing Bioject to expand its needle-free
technology with current collaborators as well as to seek new
opportunities.  

In his willingness to rejoin the board, Mr. Flynn will add years
of business experience and insight to Bioject's board.  In
addition, the financial support from the CEO and other executive
officers and a member of the board indicates their commitment to
make the company successful.

"I am pleased to be once again an active participant of the Board
of Directors and look forward to being involved in moving Bioject
to the next level," said Mr. Flynn.  "I have always supported the
company and believe this technology brings future clinical
advancements into use.  With the increase in self injections at
home and the need to remove needles as a possible spread of
infectious disease, Bioject is positioned to address these issues
and improve our health care system for everyone."

"Mr. Ed Flynn has been a long time supporter, board member and
advocate for Bioject and its needle-free injection therapy (NFIT)
systems," Ralph Makar, president and CEO of Bioject, said.  "We
are very pleased to have Mr. Flynn rejoin our board of directors
and we sincerely value his significant contributions and business
expertise as we move Bioject to the next level."

                    Nasdaq Deficiency Letters

As anticipated, the company received Nasdaq Deficiency Letters on
Nov. 15, 2007, and Nov. 19, 2007.  The November 15 letter
indicated that Bioject has failed to comply with stockholders'
equity, market value of listed securities and net loss from
continuing operations requirements for continued listing, as set
forth in Marketplace Rules(s) 4310c(3).

The November 19 letter indicated that Bioject has failed to comply
with the minimum bid price requirement for continued listing set
forth in Marketplace Rule 4310c(4) because for
30 consecutive trading days the bid price of Bioject's common
stock has closed below the minimum $1.00 bid requirement.

The Nov. 15, 2007, letter states that Bioject has until
Nov. 30, 2007 to provide Nasdaq with a specific plan to achieve
and sustain compliance with the Nasdaq Capital Market listing
requirements.

In the event the company is unable to deliver a plan acceptable to
Nasdaq, Bioject would expect to receive notification that its
securities will be delisted.  At that time, the company has the
option to appeal the Staff's decision to a Nasdaq Listing
Qualifications Panel.

The Nov. 19, 2007, letter states that Bioject will be provided 180
calendar days, or until May 19, 2008, to regain compliance with
the minimum bid price requirement.  If, at any time prior to May
19, 2008, the bid price of Bioject's common stock closes at $1 per
share or more for a minimum of 10 consecutive business days,
Nasdaq will notify Bioject that it is in compliance with the
minimum bid requirement.

"In anticipation of the financing requirements and the Nasdaq
notification, the company took a proactive stance by raising
capital and beginning to execute on our new customer-focused
business strategy, which we believe will allow us to become
compliant with the Nasdaq requirements," Mr. Makar said.

"Bioject is currently discussing new opportunities with several
new potential partners as well as current partners to expand its
technology in new and exciting areas," Mr. Makar said.  "The dose-
sparing clinical studies that are currently under way should be
finished and data available next year, which could present some
exciting areas for expansion as well as new directions in the
delivery of some vaccines.  We are very optimistic about our
future and are looking forward to a very productive next few
years.  We have made many positive changes this year in the
company and feel we are well positioned to move forward with
success in the near future."

               About Bioject Medical Technologies

Headquartered in Portland, Oregon Bioject Medical Technologies
Inc. (Nasdaq: BJCT) -- http://www.bioject.com/-- develops and
manufactures needle-free drug delivery systems.  The company
focuses on developing mutually beneficial agreements with
pharmaceutical, biotechnology, and veterinary companies.

                       Going Concern Doubt

On April 2, 2007, Moss Adams LLP, in Portland, Oregon, expressed
substatial doubt about Bioject Medical Technologies Inc.'s ability
to continue as a going concern after auditing the financial
statements for the year ended Dec. 31, 2006.  The auditors pointed
out that the company has suffered recurring losses, has had
significant recurring negative cash flows from operations, and has
an accumulated deficit.


CAMARGO CORREA: Fitch Affirms 'BB' Issuer Default Rating
--------------------------------------------------------
Fitch Ratings has affirmed the foreign currency and local currency
Issuer Default Ratings of Camargo Correa S.A. at 'BB'. Fitch has
also affirmed the 'BB' rating on the $250 million senior unsecured
bonds due 2016 issued by CCSA Finance Limited (a special-purpose
vehicle wholly-owned by Camargo and incorporated in the Cayman
Islands), which is unconditionally guaranteed by Camargo.  In
addition, Fitch has also upgraded Camargo's national debt rating
to 'AA-(bra)' from 'A+(bra)'.  The Rating Outlook is Stable.

The ratings affirmation and national scale ratings upgrade reflect
the improving Brazilian economic environment which has begun to
favorably impact much of Camargo's businesses, particularly in its
cement and engineering and construction businesses.  Camargo's
core businesses of cement, engineering and construction, textiles
and footwear are highly correlated to general economic conditions
in Brazil, Argentina and other countries in which it operates.  
Current domestic environment has experienced continued
improvement, risks associated with a softening U.S. economy and
the impact of it on emerging market countries such as Brazil and
Argentina appear to be lower then in previous cycles.

Camargo benefits from its diversified portfolio of operations,
adequate market position in the industries in which it
participates, and strong liquidity relative to consolidated
leverage which partially mitigates exposure to economic risks.  
Additionally, Camargo has both continued to increase diversity of
revenues and cash flows across industry sectors and the proportion
of exports sales abroad within total revenues.

Camargo is seeking to grow strongly over the next several years
and further position itself among the top five industrial private
conglomerates in Brazil, further strengthening its market
position.  Some of this growth will be organic, particularly in
the footwear and engineering and construction segments, which are
planning to expand their market base internationally.  In the
cement and textiles segments, much of the growth is planned
through acquisitions.  Camargo does not expect to enter any new
industries in the near future.  In recent years, Camargo has
pursued a growth strategy targeted primarily to expand operations
outside of Brazil, which should further diversify country risk.  
Recent acquisition highlights include the 2005 US$1 billion
acquisition of Loma Negra, the largest cement producer in
Argentina.  Additionally in 2007, Camargo it completed (agreement
entered in 2006) the merger of Santista Textil S.A., its textile
manufacturer, with Tavex Algodonera S.A., the largest manufacturer
of denim in Europe. Export revenues and sales abroad, which
accounted for approximately 18% of revenues in 2006, should grow
to approximately 22% in 2007, primarily as a result of these
transactions.

Credit protection measures have been gradually improving since
Camargo took an aggressive financial position to fund acquisitions
which had caused credit protection to deteriorate in 2005.  
Leverage ratios are now solid for the rating category on a total
debt to EBITDA basis and strong on a net debt basis.  Camargo has
had a history of maintaining a large cash balance on its balance
sheet in order to facilitate its acquisition prospects in a
scenario where access to debt markets becomes limited.  Therefore,
Fitch see lower degree of risk of shareholder friendly actions
such as a special dividend, as it relates to its large cash
balance.  Nevertheless, the impact of Carmargo's aggressive growth
strategy on credit protection measures remains a concern, which
has been incorporated into the ratings.  Fitch expects that
Camargo will continue to manage its balance sheet to a targeted
ratio of net debt to EBITDA in the 1.5 times -2.5x range.  At June
30, 2007, the ratio of total consolidated debt to EBITDA was 3.8x,
down from 4.2x in 2006.  Net debt to EBITDA was 1.5x, and
EBITDA/gross interest expense was 1.9x.

The financial performance, industry and geographic
diversification, as well as the robust dividend flow from core
operating companies and minority equity stakes, mitigate the
structural subordination risk associated with a holding company
structure.  At June 30, 2007, Camargo had consolidated total debt
of 5.7 billion Brazilian reais of which approximately 45% was
denominated in currencies other than the domestic currency.  Of
the total debt approximately R$3.4 billion is at the holding
company and its controlled subsidiaries (23.5% short-term) and
R$2.3 billion at non-controlled subsidiaries (11% short-term).  
Camargo had R$3.4 billion of consolidated cash during the same
period with about R$2 billion at the holding company.  The holding
company maintained a substantial amount of offshore cash at the
end of June ($582 million).  Consolidated short-term debt
accounted for about 20% of total debt.

Camargo is one of the largest private industrial conglomerates in
Brazil.  Camargo is a holding company with interests in cement,
engineering and construction, textiles, footwear and sportswear
manufacturing.  It also owns non-controlling equity interests in
the energy, transportation and steel businesses.  During the last
12 months through June 2007, Camargo had net sales of R$9.2
billion and EBITDA of R$1.4 billion.


CARDIMA INC: Sept. 30 Balance Sheet Upside-Down by $18.8 Million
----------------------------------------------------------------
Cardima Inc.'s consolidated balance sheet at Sept. 30, 2007,
showed $1.7 million in total assets and $20.5 million in total
liabilities, resulting in an $18.8 million total shareholders'
deficit.

At Sept. 30, 2007, the company's consolidated balance sheet also
showed strained liquidity with $1.4 million in total current
assets available to pay $20.4 million in total current
liabilities.

The company reported a net loss of $3.8 million on net sales of
$311,000 for the third quarter ended Sept. 30, 2007, compared with
net income of $1.0 million on net sales of $254,000 in the same
period last year.

The increase in net sales was primarily attributable to increased
sales and marketing efforts in the United States and European
countries.

Interest expense increased to $2,314,000 in the third quarter of
2007 from $159,000 in the third quarter of 2006.

Other income for the quarter ended Sept. 30, 2007, was $9,000 as
compared to other income of $2.6 million for the same period in
2006.  

Full-text copies of the company's consolidated financial
statements for the quarter ended Sept. 30, 2007, are available for
free at http://researcharchives.com/t/s?25c7

                       Going Concern Doubt

Marc Lumer & Company, in San Francisco, expressed substantial
doubt about Cardima Inc.'s ability to continue as a going concern
after auditing the company's consolidated financial statements for
the year ended Dec. 31, 2006.  The auditing firm pointed to the
company's recurring losses from operations.

                       About Cardima Inc.

Headquartered in Fremont, California, Cardima Inc. (OTC BB:
CRDM.OB) -- http://www.cardima.com/-- has developed the  
PATHFINDER(R) Series of diagnostic catheters, the REVELATION(R)
Series of ablation catheters, the INTELLITEMP(R) Energy Management
Device, and the Surgical Ablation System.  The REVELATION(R)
Series with the INTELLITEMP(R) Energy Management Device was
developed for the treatment of atrial fibrillation and received CE
mark approval in Europe.  The PATHFINDER(R) Series diagnostic
catheters and the SAS with an INTELLITEMP(R) received FDA 510(k)
clearance in the U.S.


CHAMPION ENTERPRISES: To Close Alabama Manufacturing Facility
-------------------------------------------------------------
Champion Enterprises Inc. will close its manufacturing facility in
Guin, Alabama.  As a result of the closure, the company expects to
record pretax restructuring charges of up to $4.5 million in the
fourth quarter ending Dec. 29, 2007.

"We regret having to make the decision to close our Guin, Alabama
operation which has been part of the Champion organization since
the late 1980s, but its capacity utilization rate and
profitability continue to run well below acceptable levels and any
near-term improvement appears unlikely," stated William Griffiths,
chairman, president and chief executive officer of Champion
Enterprises Inc.  "This is the seventh manufacturing facility we
have idled or closed since mid-2006 in an effort to continue
delivering strong segment operating margins despite challenging
U.S. housing markets."

                 About Champion Enterprises Inc.

Based in Auburn Hills, Michigan, Champion Enterprises Inc. (NYSE:
CHB) -- http://www.championhomes.com/-- operates 31 manufacturing  
facilities in North America and the United Kingdom working with
independent retailers, builders and developers.  The Champion
family of builders produces manufactured and modular homes, as
well as modular buildings for government and commercial
applications.

                          *     *     *

Moody's Investor Service placed Champion Enterprises Inc.'s  
senior unsecured debt and probability of default ratings at 'B1'
in September 2006.  The ratings still hold to date with a negative
outlook.


CHARLES BRADLEY: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Lead Debtor: Charles E. Bradley, Sr. Family, L.P.
             c/o Stanwich Consulting Corp.
             One Stamford Landing
             62 Southfield Avenue
             Stamford, CT 06902

Bankruptcy Case No.: 07-50725

Debtor-affiliates filing separate Chapter 11 petitions:

        Entity                                     Case No.
        ------                                     --------
        John Grier Poole Family, L.P.              07-50726
        Reunion Industries, Inc.                   07-50727

Chapter 11 Petition Date: November

Court: District of Connecticut (Bridgeport)

Debtor's Counsel: Carol A. Felicetta, Esq.
                  Reid and Riege, P.C.
                  195 Church Street, 15th Floor
                  New Haven, CT 06510-1819
                  Tel: (203) 777-8008
                  Fax: 203-777-6304

                            Estimated Assets       Estimated Debts
                            ----------------       ---------------
Charles E. Bradley, Sr.     $0                     $0
Family, L.P.

John Grier Poole Family,    $0                     $0
L.P.

Reunion Industries, Inc.    $0                     $1,513,143

A. Charles E. Bradley, Sr. Family, LP does not have any creditors
   who are not insiders.

B. John Grier Poole Family, LP does not have any creditors
   who are not insiders.

C. Reunion Industries, Inc's 20 Largest Unsecured Creditors:

   Entity                      Claim Amount
   ------                      ------------
Scot Industries                $253,399
Attention: President or
Managing Agent
P.O. Box 0146
Lone Star, TX 75668

Earle M. Jorgensen             $130,585
Attention: President or
Managing Agent
1900 Mitchell Boulevard
Schaumburg, IL 60194

Kwa Properties, L.L.C.         $115,286
Attention: President or
Managing Agent
844 East Rockland Road
Libertyville, IL 60048

Pinnacle Precision Co.         $112,263

Tech Syn                       $98,292

Westfield Bank, F.S.B.         $81,712

Steel Supply Co.               $75,651

Burgley Gas                    $74,308

Steelworkers Health & Welfare  $72,999
Fund

Masterform Tool Co.            $61,885

Bearing Distributors           $56,771

Wisconsin Steel                $48,600

Scot Forge                     $45,180

Progressive Turnings           $45,014

Duquesne Light Co.             $42,662

Piedmont Plastics              $42,033

B.&D. Cylinders                $41,978

Hartman & Hartman              $38,794

United Cast Bar                $38,331

Pittsburgh Foundry &           $37,400
Machinery


CHICAGO H&S: Court Gives Nod to Akin Gump as Co-Counsel
-------------------------------------------------------
Chicago H&S Hotel Property, L.L.C., obtained authority from the
U.S. Bankruptcy Court for the Northern District of Illinois to
employ Akin Gump Strauus Hauer & Feld LLP as its bankruptcy co-
counsel.

Akin Gump is expected to:

    (a) render legal advice with respect to the powers and duties
        of the Debtor that continues to operate its business and
        manage its properties as debtor-in-possession;

    (b) negotiate, prepare and file a chapter 11 plan or plans and
        disclosure statements in connection with such plans, and
        otherwise assist the Debtor in the sale of the Property;

    (c) take all necessary action to protect and preserve the
        Debtor's estate including the prosecution of actions on
        the Debtor's behalf, the defense of any actions commenced
        against the Debtor, negotiations concerning all litigation
        in which the Debtor is or becomes involved, and the
        evaluation and objection to claims filed against the
        estate;

    (d) prepare, on behalf of the Debtor, all necessary
        applications, motio0ns, answers, orders, reports and
        papers in connection with the administration of the
        Debtor's estate, and appear on behalf of the Debtor at all
        Court hearings in connection with the Debtor's case;

    (e) render legal advice and perform general services in
        connection with the bankruptcy case; and

    (f) perform all other necessary legal services in connection
        with the chapter 11 case.

The Debtor discloses that professionals of the firm bill:

       Designation                       Hourly Rate
       -----------                       -----------
       Partners and Counsel              $475 - $740
       Associates                        $225 - $335
       Paralegals                           $175

To the best of the Debtor's knowledge, the firm is a
"disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code.

The firm can be reached through:

      Charles R. Gibbs, Esq.
      Akin Gump Strauss Hauer & Feld LLP
      1700 pacific Avenue, Suite 4100
      Dallas, TX 75201
      Tel: (214) 969-4710
      Fax: (214) 969-4343  
      http://www.akingump.com/

Based in Chicago, Illinois, Chicago H&S Hotel Property, LLC, dba
Hotel 71, owns and operates a 40-story, 437 guestroom full service
hotel.  The company filed for Chapter 11 protection on Oct. 29,
2007 (Bankr. N.D. Ill. Case No. 07-20088).  The Debtor disclosed
estimated assets and debts of more than $100 million at the time
of its filing.


CHICAGO H&S: Court Approves Perkins Coie as Co-Counsel
------------------------------------------------------
Chicago H&S Hotel Property, L.L.C., obtained authority from the
U.S. Bankruptcy Court for the Northern District of Illinois to
employ Perkins Coie LLP as its bankruptcy co-counsel.

Perkins Coie is expected to:

     a. advise the Debtor with respect to its powers and duties as
        a debtor-in-possession in the continued management and
        operation of its business and properties;

     b. attend meetings and negotiate with representatives of
        creditors and other parties-in-interest;

     c. take all necessary action to protect and preserve the
        Debtor's estate including prosecuting actions on the
        Debtor's behalf, defend any action commenced against the
        Debtor, and represent the Debtor's interest in
        negotiations concerning all litigation in which the Debtor
        is involved, including, but not limited to, objections to
        claims filed against the estate;

     d. prepare all motions, applications, answers, orders,
        reports and papers necessary to administer the Debtor's
        estate;

     e. take any action necessary on behalf of the Debtor to
        obtain approval of a disclosure statement and the Debtor's
        plan of reorganization;

     f. represent the Debtor in connection with obtaining
        postpetition financing, if required;

     g. advise the Debtor in connection with any potential sale of
        assets;

     h. appear before the Court, any appellate court and the U.S.
        Trustee and protect the interests of the Debtor's estate
        before these courts and the U.S. Trustee;

     i. consult with the Debtor regarding tax matters; and

     j. perform all other necessary legal services and provide all
        other  necessary legal advice to the Debtor in connection
        with the Chapter 11 case.

The Debtor discloses that the firm's hourly rates range from $805
per hour for experienced partners to $225 for junior associates.
Paralegals on the other hand, bill between $110 to $245 per hour.

The professionals expected to render services in this case and
their hourly rates are:

     Professional            Designation      Hourly Rate
     ------------            -----------      -----------
     Daniel A. Zazove, Esq.  Partner             $610
     Jason d. Horwitz, Esq.  Associate           $400
     Michelle L. Jawon       Paralegal           $160

Mr. Zazove assures the Court that his firm does not represent any
interest adverse to the Debtor or its estate.

The firm can be reached through:

        Daniel A. Zazove, Esq.
        Perkins Coie LLP
        131 South Dearborn Street, Suite 1700
        Chicago, Illinois 60603-5559
        Tel: (312) 324-8605
        Fax: (312) 324-9605
        http://www.perkinscoie.com/

Based in Chicago, Illinois, Chicago H&S Hotel Property, LLC, dba
Hotel 71, owns and operates a 40-story, 437 guestroom full service
hotel.  The company filed for Chapter 11 protection on Oct. 29,
2007 (Bankr. N.D. Ill. Case No. 07-20088).  The Debtor disclosed
estimated assets and debts of more than $100 million at the time
of its filing.


CHICAGO H&S: U.S. Trustee Appoints Three-Member Creditors Panel
---------------------------------------------------------------
The U.S. Trustee for Region 11 appointed three creditors to serve
on an Official Committee of Unsecured Creditors in Chicago H&S
Hotel Property LLC's chapter 11 case.

The Committee members are:

     1. Clever Ideas, Inc.
        180 North Stetson, Suite 5300
        Chicago, IL 60601

        Representative: Edward Linson

     2. DLA Piper US, LLP
        203 North LaSalle Street, Suite 1900
        Chicago, IL 60601

        Representative: David Neff

     3. Hudson boiler & Tank Co.
        1725 West Hubbard Street
        Chicago, IL 60622

        Representative: E.J. Hovefe

Official creditors' committees have the right to employ legal
and accounting professionals and financial advisors, at the
Debtors' expense.  They may investigate the Debtors' business and
financial affairs.  Importantly, official committees serve as
fiduciaries to the general population of creditors they represent.  
Those committees will also attempt to negotiate the terms of a
consensual Chapter 11 plan -- almost always subject to the terms
of strict confidentiality agreements with the Debtors and other
core parties-in-interest.  If negotiations break down, the
Committee may ask the Bankruptcy Court to replace management with
an independent trustee.  If the Committee concludes reorganization
of the Debtor is impossible, the Committee will urge the
Bankruptcy Court to convert the Chapter 11 cases to a liquidation
proceeding.

Based in Chicago, Illinois, Chicago H&S Hotel Property, LLC, dba
Hotel 71, owns and operates a 40-story, 437 guestroom full service
hotel.  The company filed for Chapter 11 protection on Oct. 29,
2007 (Bankr. N.D. Ill. Case No. 07-20088).  The Debtor disclosed
estimated assets and debts of more than $100 million at the time
of its filing.


CITY OF HOMESTEAD: Fitch Withdraws BB+ Rating on $79.88MM Bonds
---------------------------------------------------------------
Fitch withdraws the rating of 'BB+' for $79,880,000 City of
Homestead, Florida, industrial development revenue bonds, (the
Lincoln-Marti Community Agency Projects), series 2007A and the
$1,765,000 City of Homestead, Florida, taxable industrial
development revenue bonds, (Lincoln-Marti Community Agency
Projects), series 2007B.  Fitch will no longer provide rating
coverage at this time.


CITY OF HOMESTEAD: Fitch Rates $1.765MM Revenue Bonds at BB+
------------------------------------------------------------
Fitch has rated the $79,880,000 City of Homestead, Florida,
Industrial Development Revenue Bonds, (the Lincoln-Marti Community
Agency Projects), series 2007A and the $1,765,000 City of
Homestead, Florida, Taxable Industrial Development Revenue Bonds,
(Lincoln-Marti Community Agency Projects), series 2007B 'BB+'.  
The series 2007A and 2007B bonds are expected to be sold the week
of December 3, 2007 through negotiation by Wachovia Bank, N.A.  
Proceeds of the series 2007A and 2007B bonds will finance the
acquisition and equipping of certain school facility projects,
fund a debt service reserve, and pay costs of issuance.  The bonds
are secured by a gross pledge of revenues available to the
Lincoln-Marti Community Agency, including all tuition and child
care receipts, grants not otherwise restricted as to use, and
amounts collected from related activities at each project
facility, such as meal programs, daycare or special events, and a
mortgage interest in each of the agency's 34 childcare and school
facilities.  The Rating Outlook is Stable.

The Stable Outlook reflects expectations that the agency will
continue to generate positive operations, control expenditures,
and build liquidity.  The agency's financial forecast is based
upon reasonable assumptions of 3% annual increases in both
revenues and expenditures, generating sufficient funds to cover
annual debt service in different stress scenarios.  Fitch believes
the agency will achieve its forecast coverage levels and build
liquidity through operating surpluses as expected cost
efficiencies of the consolidation are realized.  However,
liquidity is never expected to be a rating strength.  The
establishment of Lincoln-Marti Management Services, LLC's as
manager of the consolidated enterprise is viewed positively as it
provides for a seamless transition and keeps in place the
expertise and knowledge base that has benefited the organization
in the past.  The organization's strong essential service record
suggests the risk of non-renewal of its contracts with different
governmental entities is minimal.

The 'BB+' rating is primarily supported by the strong structural
and legal provisions of the transaction.  Bondholders benefit from
a direct deposit 'lock box' security, together with mortgages on
each of the organization's 34 childcare and school facilities.  
Under transaction documents, the agency is obligated to deposit
its gross revenues, including all tuition and child care receipts,
governmental grants, and auxiliary revenues, directly with the
trustee.  The trustee is to first apply these funds to bond debt
service.  Additional bondholder protections include a fully funded
debt service reserve, a repair and replacement reserve fund, a
debt service coverage covenant, a liquidity covenant, and an
additional bonds test.  The manager's agreement to defer
management fees if cash flows are insufficient to meet annual debt
service was viewed favorably in the rating process.

In addition to its structure, important transaction strengths
include the organization's long and established record of
providing services for the care and schooling of primarily
underprivileged children in Miami-Dade County; positive operating
history; experienced and dedicated principals and staff; and its
location in a growth area of the state of Florida.  Lincoln-
Marti's favorable reputation stems from its strong, committed
leadership and its success in providing essential purpose services
to the community.  The primary credit concerns are the agency's
extremely limited liquidity, the lack of institutionalized
policies and procedures which could complicate the succession of
current leadership, possibility for changes in government funding
which could pressure the agency's financial profile, and high but
manageable debt.

The Lincoln-Marti group has provided a variety of educational
services and programs for over 40 years, for the care and
schooling of underprivileged children in Miami-Dade County.


CORPUS CHRISTI: Section 341(a) Meeting Scheduled on December 12
---------------------------------------------------------------
The U.S. Trustee for Region 7 will convene a hearing of creditors
of Corpus Christi Resources LLC on Dec. 12, 2007, 9:00 a.m., at
Room 1107, 606 North Carancahua in Corpus Christi, Texas.

This is the first meeting of creditors required under Section
341(a) of the Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
Meeting of Creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

Based in Corpus Christi, Texas, Corpus Christi Resources LLC, is a
privately owned real estate development company that seeks to
develop raw land and to remediate property in New York.  The
company filed for Chapter 11 protection on Oct. 29, 2007 (Bankr.
S.D. Tex. Case No. 07-20576).  The Debtor's list of its five
largest unsecured creditors showed claims aggregating to more than
$15 million.


CORPUS CHRISTI: Taps Thompson & Knight as Bankruptcy Counsel
------------------------------------------------------------
Corpus Christi Resources LLC asks the U.S. Bankruptcy Court for
the Southern District of Texas for permission to employ Thompson &
Knight LLP as its bankruptcy counsel.

As counsel, Thompson & Knight will:

    a. advise the Debtor with respect to its rights, duties and
       powers in its bankruptcy proceeding;

    b. assist and advise the Debtor relative to its administration
       of its case;

    c. assist the Debtor in analyzing the claims of the creditors
       and in negotiating with these creditors;

    d. assist the Debtor in the analysis of and negotiations with
       any third party concerning matters related to, among other
       things, the terms of its plan of reorganization;

    e. represent the Debtor at all hearings and other proceedings;

    f. review and analyze all applications, orders, statements of
       operations and schedules filed with the Court and advise
       the Debtor as to its property;

    g. assist the Debtor in preparing pleadings and applications .
       as may be necessary in furtherance of the Debtor's
       interests and objections; and

    h. perform other legal services as may be required and are
       deemed to be in the interest of the Debtor in accordance
       with the Debtor's powers and duties as set forth in the
       Bankruptcy Code.

The Debtor discloses that the firm has agreed to a flat fee of
$55,000.

To the best of the Debtor's knowledge, the firm is a
"disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code.
   
The firm can be reached through:

      Rhett G. Campbell, Esq.
      Thompson & Knight LLP
      333 Clay Street, Suite 3300
      Houston, TX  77002
      Tel: (713) 653-8660
      Fax: (832) 397-8260
      http://www.tklaw.com/

Based in Corpus Christi, Texas, Corpus Christi Resources LLC, is a
privately owned real estate development company that seeks to
develop raw land and to remediate property in New York.  The
company filed for Chapter 11 protection on Oct. 29, 2007 (Bankr.
S.D. Tex. Case No. 07-20576).  The Debtor's list of its five
largest unsecured creditors showed claims aggregating to more than
$15 million.


DANA CORPORATION: Wants Pact Resolving Appaloosa Dispute Approved
-----------------------------------------------------------------
Dana Corporation and 40 of its domestic direct and indirect
debtor-subsidiaries ask the U.S. Bankruptcy Court for the Southern
District of New York to approve a settlement that resolves their
disputes with Appaloosa Management, L.P., which had lost a bid to
provide equity exit financing to the company.

Under the settlement, Dana agreed to reimburse up to $2,000,000
for out-of-pocket expenses Appaloosa Management incurred in the
Chapter 11 cases, in exchange for its support to Dana's Joint
Plan of Reorganization.

In October 2007, Dana's Board of Directors rejected Appaloosa's
offer to purchase preferred Dana shares that remain unsold in a
rights offering.  Dana's Reorganization Plan, as amended,
incorporates a Global Settlement which provides, among others, (i)
an equity financing of up $790,000,000 by Centerbridge Capital
Partners, L.P., and members of an Ad Hoc Steering Committee, and
(ii) a settlement between Dana and its unions.  As part of of the
Settlement, Appaloosa has agreed to withdraw its appeal on a prior
order by Judge Lifland approving the Debtors' investment agreement
with Centerbridge.

The Settlement Agreement will also permit Appaloosa to invest in
reorganized Dana.  Appaloosa will be permitted to acquire  
unsecured claims prior to the November 28, 2007 record date
established by the Plan and the Investment Agreement for
determining parties entitled to purchase new Series B preferred
stock.

Dana said that its settlement agreement with Appaloosa, which
holds 14.98% of existing common stock of Dana, will resolve one
of the major potential obstacles remaining to confirmation of the
Plan, at minimal cost.

The Settlement has been negotiated with the Official Committee of
Unsecured Creditors.  Centerbridge has also consented to the
terms of the Settlement.

The primary terms of the Settlement Agreement are:

   -- Withdrawal of Appeal: Appaloosa will withdraw the Appellate
      Case with prejudice within two business days of the
      Settlement becoming effective.

   -- Waiver of Standstill: The Debtors will waive certain
      provisions of a Confidentiality Agreement between Dana and
      Appaloosa to lift contractual restrictions on Appaloosa
      from acquiring a beneficial ownership of claims or debt
      securities of Dana its subsidiaries.

   -- Expenses: The Creditors Committee will support, and the
      Debtors will take no position with respect to, a motion by
      Appaloosa under Section 503(b) of the Bankruptcy Code
      seeking reimbursement of $2,000,000 of reasonable fees and
      expenses incurred in connection with the Debtors' Chapter
      11 cases.

   -- Voting: The order approving the Settlement will provide
      that all of Appaloosa's claims against the Debtors now
      held or acquired prior to the deadline for voting on the
      Plan will be deemed to vote to accept the Plan and consent
      to the releases provided for therein.  Appaloosa will only
      transfer its claims to an entity that agrees to accept all
      of Appaloosa's obligations under the Settlement.

   -- Plan Support Agreement: Appaloosa will reaffirm its
      obligations under the Plan Support Agreement dated
      July 26, 2007, among Dana, the Unions, Centerbridge and
      certain of its affiliates and various holders of unsecured
      claims that agreed to support the Plan.  The Debtors and
      the Creditors Committee waive certain claims for breach of
      contract they may have versus Appaloosa under the Plan
      Support Agreement.

   -- Investment Agreement: Appaloosa will support the
      Investment Agreement between Dana and Centerbridge and
      will refrain from taking a number of enumerated actions
      that would serve to interfere with the Investment Agreement
      or the confirmation of the Plan.

Corinne Ball, Esq., at Jones Day, in New York, tells the Court,
the Settlement Agreement (a) surpasses "the lowest point in the
range of reasonableness," (b) represents a proper exercise of the
Debtors' business judgment and (c) should be approved pursuant to
Section 363 of the Bankruptcy Code and Rule 9019 of the Federal
Rules of Bankruptcy Procedure.

                     About Dana Corporation

Headquartered in Toledo, Ohio, Dana Corporation --
http://www.dana.com/-- designs and manufactures products for     
every major vehicle producer in the world, and supplies
drivetrain, chassis, structural, and engine technologies to
those companies.  Dana employs 46,000 people in 28 countries.  
Dana is focused on being an essential partner to automotive,
commercial, and off-highway vehicle customers, which
collectively produce more than 60 million vehicles annually.

Dana has facilities in China in the Asia-Pacific, Argentina in
the Latin-American regions and Italy in Europe.

The company and its affiliates filed for chapter 11 protection
on March 3, 2006 (Bankr. S.D.N.Y. Case No. 06-10354).  As of
Sept. 30, 2007, the Debtors listed   $7,018,000,000 in total
assets and 7,554,000,000 in total debts resulting in a total
shareholders' deficit of $536,000,000.

Corinne Ball, Esq., and Richard H. Engman, Esq., at Jones Day,
in Manhattan and Heather Lennox, Esq., Jeffrey B. Ellman, Esq.,
Carl E. Black, Esq., and Ryan T. Routh, Esq., at Jones Day in
Cleveland, Ohio, represent the Debtors.  Henry S. Miller at
Miller Buckfire & Co., LLC, serves as the Debtors' financial
advisor and investment banker.  Ted Stenger from AlixPartners
serves as Dana's Chief Restructuring Officer.

Thomas Moers Mayer, Esq., at Kramer Levin Naftalis & Frankel
LLP, represents the Official Committee of Unsecured Creditors.  
Fried, Frank, Harris, Shriver & Jacobson, LLP serves as counsel
to the Official Committee of Equity Security Holders.  Stahl
Cowen Crowley, LLC serves as counsel to the Official Committee
of Non-Union Retirees.

The Debtors filed their Joint Plan of Reorganization on Aug. 31,
2007.  On Oct. 23, 2007, the Court approved the adequacy of the
Disclosure Statement explaining their Plan.  The Court has set
Dec. 10, 2007, to consider confirmation of the Plan.  (Dana
Corporation Bankruptcy News, Issue No. 62; Bankruptcy Creditors'
Service Inc., http://bankrupt.com/newsstand/or 215/945-7000).


DANA CORPORATION: Secures $2,000,000,000 Exit Financing
-------------------------------------------------------
Dana Corporation has obtained fully underwritten commitments for a
$2,000,000,000 exit financing facility, marking a significant step
toward the company's timely emergence from Chapter 11
reorganization.  These commitments ensure that Dana will be
positioned to emerge from bankruptcy by the end of January 2008,
or earlier.

The exit facility will be underwritten by Citigroup Global
Markets Inc., Lehman Brothers Inc., and Barclays Capital, and
will consist of a $650,000,000 asset-based revolving credit
facility and a $1,350,000,000 term loan facility.  The facilities
are secured by substantially all of the assets of Dana and most
of its domestic subsidiaries.

Dana Chairman and Chief Executive Officer Mike Burns said, "This
is a significant step toward our emergence as a strong,
financially stable company that is equipped to make significant
investments in our programs and to continue providing innovative
products of the highest quality to our customers worldwide.  The
fact that our exit facility is fully underwritten during
difficult credit market conditions is a strong endorsement of our
proposed capital structure and success in implementing our
turnaround initiatives.  In addition, it further ensures our
timely emergence from Chapter 11 after confirmation of our plan
of reorganization by the bankruptcy court."

Proceeds from the facility will be used by Dana to repay its
debtor-in-possession credit facility, make other payments
required upon exit from bankruptcy, and provide liquidity to fund
working capital and other general corporate purposes.

The commitment letter remains subject to bankruptcy court
approval and the funding of the commitments set forth in the
commitment letter is subject to customary closing conditions.

Dana was advised by Miller Buckfire & Co., AlixPartners, and
Jones Day in connection with its exit financing process.

                            About Dana

Headquartered in Toledo, Ohio, Dana Corporation --
http://www.dana.com/-- designs and manufactures products  
for every major vehicle producer in the world, and supplies
drivetrain, chassis, structural, and engine technologies to
those companies.  Dana employs 46,000 people in 28 countries.  
Dana is focused on being an essential partner to automotive,
commercial, and off-highway vehicle customers, which
collectively produce more than 60 million vehicles annually.

Dana has facilities in China in the Asia-Pacific, Argentina in
the Latin-American regions and Italy in Europe.

The company and its affiliates filed for chapter 11 protection
on March 3, 2006 (Bankr. S.D.N.Y. Case No. 06-10354).  As of
Aug. 31, 2007, the Debtors listed US$6,878,000,000 in total
assets and $7,551,000,000 in total debts resulting in a total
shareholders' deficit of $673,000,000.

Corinne Ball, Esq., and Richard H. Engman, Esq., at Jones Day,
in Manhattan and Heather Lennox, Esq., Jeffrey B. Ellman, Esq.,
Carl E. Black, Esq., and Ryan T. Routh, Esq., at Jones Day in
Cleveland, Ohio, represent the Debtors.  Henry S. Miller at
Miller Buckfire & Co., LLC, serves as the Debtors' financial
advisor and investment banker.  Ted Stenger from AlixPartners
serves as Dana's Chief Restructuring Officer.

Thomas Moers Mayer, Esq., at Kramer Levin Naftalis & Frankel
LLP, represents the Official Committee of Unsecured Creditors.  
Fried, Frank, Harris, Shriver & Jacobson, LLP serves as counsel
to the Official Committee of Equity Security Holders.  Stahl
Cowen Crowley, LLC serves as counsel to the Official Committee
of Non-Union Retirees.

The Debtors filed their Joint Plan of Reorganization on Aug. 31,
2007.  On Oct. 23, 2007, the Court approved the adequacy of the
Disclosure Statement explaining their Plan.  The Court has set
Dec. 10, 2007, to consider confirmation of the Plan.  (Dana
Corporation Bankruptcy News, Issue No. 62; Bankruptcy Creditors'
Service Inc., http://bankrupt.com/newsstand/or 215/945-7000).  


DIASYS CORP: Posts $163,219 Net Loss in 3rd Quarter Ended Sept. 30
------------------------------------------------------------------
DiaSys Corp. reported a net loss of $163,219 on net sales of
$300,568 for the third quarter ended Sept. 30, 2007, compared with
a net loss of $193,836 on net sales of $391,227 in the same period
last year.

The decrease in net sales for the three-month period was primarily
due to delays in implementation of workstations in Mexico, as well
as delays in obtaining final VLA testing of the veterinary Parasep
product.

Selling, general and administrative expenses for the three-month
period ended Sept. 30, 2007, decreased $60,404 from $289,289 to
$228,885 or 20.88 % over the comparable prior period.  

Research and development expense for the three-month period ended
Sept. 30, 2007, decreased $31,639, or 78.24 % over the comparable
prior period.  

At Sept. 30, 2007, the company's consolidated balance sheet showed
$2,407,630 in total assets, $1,699,700 in total liabilities, and
$707,930 in total shareholders' equity.

The company's consolidated balance sheet at Sept. 30, 2007, also
showed strained liquidity with $591,633 in total current assets
available to pay $1,699,700 in total current liabilities.

Full-text copies of the company's consolidated financial
statements for the quarter ended Sept. 30, 2007, are available for
free at http://researcharchives.com/t/s?25c8

                       Going Concern Doubt

As reported in the Troubled Company Reporter on Oct. 25, 2007,
Fiondella, Milone & LaSaracina LLP expressed substantial doubt
about the DiaSys Corporation's ability to continue as a going
concern after auditing the company's consolidated financial
statements for the fiscal year ended June 30, 2007.  The auditing
firm pointed to the company's recurring losses from operations,
cash used by operating activities, negative working capital, and
accumulated deficit.

                        About DiaSys Corp.

Headquartered in Waterbury, Connecticut, DiaSys Corporation
(OTC BB: DYXC.OB) -- http://www.diasys.com/-- designs, develops,   
manufactures and distributes proprietary medical laboratory
equipment, consumables and infectious disease test-kits to
healthcare & veterinary laboratories worldwide.  The company
operates in Europe through its wholly owned subsidiary based in
Wokingham, England and through distributors in South America.


DPL CAPITAL: Moody's Lifts Securities Rating to Baa3 from Ba1
-------------------------------------------------------------
Moody's Investors Service upgraded DPL Inc.'s senior unsecured
debt rating to Baa2 from Baa3, and upgraded The Dayton Power and
Light Company's senior secured debt to A2 from A3; Issuer Rating
to A3 from Baa1; and preferred stock to Baa2 from Baa3.  Moody's
also upgraded the trust preferred securities issued by DPL Capital
Trust II to Baa3 from Ba1.  This action concludes the review for
possible upgrade that was initiated on November 15, 2007.  The
rating outlook is stable for DPL, DP&L, and DPL Capital Trust II.

The upgrades reflects strong and improving consolidated cash flow
coverage ratios and financial metrics that compare strongly to
peer companies, especially at the utility.  "The upgrades reflect
the continued deleveraging of the parent company, including the
redemption of $225 million of parent company debt earlier this
year, and Moody's expectation that the company will continue to
reduce parent company debt over the next two years," said Michael
G. Haggarty, Vice President and Senior Credit Officer.

"The upgrades consider the lower business risk of the consolidated
organization following the sale of two peaking units in April for
$151.2 million, which should facilitate additional debt reduction
at the parent company level," said Haggarty.  Business risk at DPL
has also been reduced as a result of the resolution and settlement
of litigation with the company's previous management team, which
had been an ongoing source of uncertainty for the company.

In addition, unlike most other predominantly coal fired utilities,
DP&L has completed a large proportion of the capital expenditures
required to put its plants into compliance with more stringent
environmental guidelines.  The utility's capital expenditures are
projected to decrease from a high of
$360 million this year to $200 million in 2008 and again to
$145 million in 2009, resulting in significant free cash flow
generation in both 2008 and 2009.

Although there is considerable uncertainty regarding the future
regulatory framework for investor owned utilities in the state of
Ohio, DP&L's current rate stabilization plan does not expire until
Dec. 31, 2010, a full two years beyond those in place for the
other utilities in the state.  This should give DP&L additional
time to prepare for and adapt to any changes in the regulatory
environment in the state.

The stable outlook for the ratings of DPL and DP&L reflects
Moody's expectation that the company's strong financial
performance will continue, that leverage will be further reduced
at the parent company, and that DPL management will continue to
execute a strategy focused on the operational and financial
performance of its regulated utility.

While consolidated financial metrics could justify a higher parent
company rating and a narrowing of the ratings notching between the
parent company and the utility, risks associated with regulatory
uncertainty in Ohio and the still considerable $767 million of
debt at the parent level offsets these stronger financial metrics.  
A positive outlook for the parent company could be considered when
there is additional regulatory clarity in the state and the
anticipated parent company debt paydowns are realized.

DPL Inc., headquartered in Dayton, Ohio, is a diversified regional
energy company operating in Ohio through its subsidiaries The
Dayton Power and Light Company and DPL Energy LLC.


DURA AUTOMOTIVE: Obtains Overwhelming Creditor Support on Plan
--------------------------------------------------------------
DURA Automotive Systems, Inc., and its debtor-affiliates will
ask the U.S. Bankruptcy Court for the District of Delaware to
confirm their Joint Plan of Reorganization on December 6,
2007, at 9:30 a.m., Eastern Time.

The Debtors obtained overwhelming support from creditors
entitled to vote on their Joint Plan of Reorganization.

According to Financial Balloting Group, the Debtors' voting
agent, each voting class voted in favor of the Plan:

                   Amount         Amount      Number      Number
                 Accepting      Rejecting   Accepting   Rejecting
               (% of Amount   (% of Amount  (% of Num   (% of Num
CLASS             Voted)         Voted)      Voted)       Voted)
-----             ------         ------      ------       ------
Class 2:      $143,400,000     $3,500,000          16          1
Second Lien        (97.56%)        (2.44%)    (94.12%)    (5.88%)
Facility
Claims

Class 3A:     $340,858,465     $1,039,000          78          6
Holders of         (99.70%)        (0.30%)    (92.86%)    (7.14%)
Senior Notes
w/ Principal
Amount
> $75,000

Class 3B:       $1,325,852       $285,000          41          7
Holders of         (82.31%)       (17.69%)    (85.42%)   (14.58%)
Senior Notes
w/ Principal
Amount
<= $75,000

Class 5A        $5,744,292       $174,616         798         25
Holders of         (96.96%)        (3.04%)    (96.82%)    (3.04%)
Other Gen.
Unsecured
Claims
<= $75,000

Class 5B        $4,478,035             $0          16          0
Trade Claims      (100.00%)        (0.00%)   (100.00%)    (0.00%)
> $75,000

Class 5C          $695,062             $7          61          7
Non-Trade         (100.00%)        (0.00%)    (89.71%)   (10.29%)
Claims
> $75,000

The Plan provides for full recovery to administrative claimants
and secured lenders under Class 1, accordingly, these claimants
were not given ballots and were deemed to accept the Plan.

Holders of subordinated notes aggregating $560,700,000 classified
under Class 4, holders of subordinated debentures aggregating
$58,300,000 under Class 6, holders of subordinated claims in
Class 7, and owners of existing stock of DURA under Class 8 will
not receive any recovery under Plan.  Accordingly, the Debtors
did not solicit votes from these claimants as they were deemed to
reject the Plan.

The Plan provides for 100% recovery to Class 2 Second Lien
Facility Claims (the postpetition interest to paid to these
claimants remain in dispute), 55% recovery to holders of
$418,700,000 in senior notes in Class 3, and a 22% recovery for
holders of $22,300,000 in other general unsecured claims in Class
5.

At the confirmation hearing, the Debtors will step Judge Kevin J.
Carey through the 13 statutory requirements necessary to confirm
a plan pursuant to Section 1129 of the Bankruptcy Code.  With
respect to the proposed treatment of claims and interests:  

    -- Section 1129(a)(8) requires that each class of claims or
       interests under a plan has either accepted the plan or not
       be impaired under the plan.  Pursuant to Section 1126(c),
       a class of claims has accepted the plan if creditors
       holding at least two-thirds in amount and more than one-
       half in number of the allowed claims of the class voted in
       favor of the plan.

    -- Notwithstanding Section 1129(a)(8), if at least one class
       of impaired claims or interests accepts the plan, the plan
       can still be confirmed under Section 1129(b)(1)'s
       "cramdown" provision.  Under the cram-down provision, upon
       the request of the plan proponent, the plan may be
       confirmed if it does not discriminate unfairly, and is
       fair and equitable, with respect to each class of claims
       or interests that is impaired under, and has not accepted,
       the plan.

The Plan of Reorganization contemplates a $425,000,000 exit
financing and a $140,000,000 to $160,000,000 equity rights
offering to be fully backstopped by Pacificor, LLC.  Holders of
senior notes in excess of $75,000, which also includes Pacificor,
were entitled to buy shares of new common stock of DURA at the
rights offering, which concluded on November 15, 2007.  Class 3A
holders elected to subscribe approximately $1,300,000.  Pursuant
to the Court-approved backstop agreement, Pacificor will purchase
the unsubscribed portion of the shares.

Kelly Beaudin Stapleton, the United Stated Trustee for Region 3,  
has said that the Plan is unconfirmable on grounds that, among
other things, the Plan unfairly discriminates against certain
general unsecured Class 3B Senior Notes Claimants, who will be
paid in cash and not entitled to participate in the rights
offering.

The Debtors, however, refute the U.S. Trustee's allegations,
noting that while the currency type differ for the two
subclasses, the implied value of the distribution is identical.  
DURA also noted that an overwhelming majority of the 335 senior
noteholders in Class 3A and 3B have consented to the separate
classification.  DURA had opted to provide cash to smaller
holders of senior notes because the number of shareholders in the
Reorganized DURA cannot exceed 300 if the company is to emerge as
a privately held company, a condition set by Pacificor.

                     About Dura Automotive

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 company has three locations in Asia -- China, Japan
and Korea.  It has locations in Europe and Latin-America,
particularly in Mexico, Germany and the United Kingdom.

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 USUS$1,993,178,000 in total assets
and USUS$1,730,758,000 in total liabilities.

The Debtors' exclusive plan-filing period expired on Sept. 30,
2007.  On Aug. 22, 2007, the Debtors' filed their Plan of
Reorganization and the Disclosure Statement explaining that Plan
was approved on Oct. 3, 2007.  The hearing to consider
confirmation of the plan is set for Dec. 6, 2007.  (Dura
Automotive Bankruptcy News, Issue No. 38 Bankruptcy Creditors'
Service Inc., http://bankrupt.com/newsstand/or 215/945-7000).  


DUTCHMANS CREEK: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: Dutchmans Creek Development, L.L.C.
        1400 Harding Place, Suite 100
        Charlotte, NC 28204

Bankruptcy Case No.: 07-32314

Chapter 11 Petition Date: November 26, 2007

Court: Western District of North Carolina (Charlotte)

Judge: George R. Hodges

Debtor's Counsel: Travis W. Moon, Esq.
                  Hamilton Moon Stephens Steele & Martin, P.L.L.C.
                  2020 Charlotte Plaza, 201 South College Street
                  Charlotte, NC 28244-2020
                  Tel: (704) 344-1117

Estimated Assets: $1 Million to $100 Million

Estimated Debts:  $1 Million to $100 Million

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


EMERGENCY MEDICAL: Earns $14.7 Million in Third Quarter 2007
------------------------------------------------------------
Emergency Medical Services Corporation disclosed results for the
third quarter and nine months ended Sept. 30, 2007.

EMSC's net income for the third quarter of 2007 was $14.7 million,
compared to net income of $10.3 million, an increase of 41.7% over
the same quarter last year.  The improvement in earnings is due
primarily to improved operating performance driven by higher net
revenues and an increase in patient encounters.

For the quarter ended Sept. 30, 2007, EMSC's net revenue totaled
$529.8 million, an increase of 9.1%, compared to the same quarter
last year.  

"The company continues to execute on its business plan of organic
growth, margin improvements, strategic acquisitions, and
leveraging our scale and scope of services for national
agreements," William A. Sanger, EMSC Chairman and Chief Executive
Officer, said.  "Our acquisitions of ambulance businesses in St.
Louis, Las Vegas, Dallas and Atlanta, and our definitive agreement
to purchase River Medical, an ambulance company in Arizona,
demonstrate our ability to complement organic growth with
strategic market expansion."

Operating cash flows for the quarter ended Sept. 30, 2007, were
$37.7 million, compared to $11.2 million during the same quarter
last year.  Operating cash flows in the quarter ended Sept. 30,
2007 were positively impacted by improved collections in the
quarter.  Accounts receivable increased $7.1 million in the
quarter, compared to an increase of $27.1 million during the same
period in 2006.  Of the $7.1 million increase in net accounts
receivable, $4.9 million was from the acquisition of MedicWest,
which did not include the purchase of accounts receivable.

Net cash used in investing activities was $87.9 million for the
quarter ended Sept. 30, 2007, compared to $45.8 million for the
same quarter last year.  The increase relates primarily to
acquisitions of $75.2 million during the quarter ended Sept. 30,
2007, compared to $10.7 million during the same period in 2006.  
The increase in acquisitions was partially offset by a
$15.0 million reduction in net insurance collateral funding and
a $5.3 million reduction in capital expenditures compared to the
same period last year.

Net cash provided by financing activities was $43.1 million for
the quarter ended Sept. 30, 2007, compared to $12.6 million used
for the same quarter last year.  Net cash from financing
activities for the quarter ended Sept. 30, 2007 includes net
borrowings of $39.0 million under its revolving credit facility,
used for acquisitions.  Net cash used in financing activities for
the same period in 2006 included unscheduled repayments of
approximately $9.4 million on its senior secured credit facility.

                        Nine-Month Results

EMSC's net income for the nine months ended Sept. 30, 2007 was
$46.4 million, compared to net income of $28.3 million, an
increase of 61.2% over the same period last year.

For the nine months ended Sept. 30, 2007, EMSC's net revenue was
$1.57 billion, an increase of 9.5% compared to the same period
last year.

Operating cash flows for the nine months ended Sept. 30, 2007 were
$56.9 million, compared to $123.6 million for the same period last
year.  Operating cash flows in the nine months ended Sept. 30,
2006 were positively impacted by the collection of approximately
$24.0 million related to 2005 hurricane and income tax
receivables.  Operating cash flows in the nine months ended
Sept. 30, 2007 were negatively impacted by increases in accounts
receivable.  These increases were the result of significant
revenue growth at EmCare and collection delays in both operating
segments.  

Net cash used in investing activities was $111.1 million for the
nine months ended Sept. 30, 2007, compared to $87.6 million for
the same period last year.  The increase relates primarily to
acquisitions of $75.6 million during the nine months ended
Sept. 30, 2007, compared to $11.6 million during the same period
in 2006.  The increase was partially offset by a $24.5 million
reduction in net insurance collateral funding and an $11.1 million
reduction in net capital expenditures compared to the same period
last year.

Net cash provided by financing activities was $37.3 million for
the nine months ended Sept. 30, 2007, compared to $31.6 million
used for the same period last year.  Net cash from financing
activities for the nine months ended Sept. 30, 2007 includes net
borrowings of $39.0 million under its revolving credit facility,
used for acquisitions.  Net cash used in financing activities for
the same period in 2006 includes unscheduled repayments of
approximately $19.4 million on its senior secured credit facility.

At Sept. 30, 2007, the company's balance sheet showed total assets
of $1.4 billion and total liabilities of $1.0 billion, resulting
in a stockholders' equity of $435.5 million.  Equity at Dec. 31,
2006, was $386.0 million

                     About Emergency Medical

Based in Greenwood Village, Colorado, Emergency Medical Services
Corporation (NYSE:EMS) -- http://www.emsc.net/-- provides  
emergency medical services in the United States.  EMSC operates
two business segments: American Medical Response, Inc., the
company's healthcare transportation services segment, and EmCare
Holdings Inc., the company's emergency department and hospital-
based management services segment.

                          *     *     *

Moody's Investors Service recently upgraded the Corporate Family
Rating on co-issuers AMR Holdco Inc. and EmCare Holdco Inc. to Ba3
from B1.  The co-issuers are operated through a holding company,
Emergency Medical Services L.P. which is in turn owned by
Emergency Medical Services Corporation.  Moody's concurrently
upgraded the rating on the $450 million senior secured credit
facility, consisting of a $100 million senior secured revolver due
2011 and a $350 million senior secured term loan due 2012, to Ba1
from Ba2.  Moody's also upgraded the ratings on the $250 million
senior subordinated notes due 2015 to B1 from B3.  The outlook has
been changed to stable from positive.


ENERGYTEC INC: Posts $2.1 Million Net Loss in Third Quarter 2007
----------------------------------------------------------------
Energytec Inc. reported a net loss of $2.1 million on total
revenues of $1.5 million for the third quarter ended Sept. 30,
2007, compared with a net loss of $893,431 on total revenues of
$2.2 million in the same period last year.

Oil and gas revenues for the three months months ended Sept. 30,
2007, declined 30% to $719,018 compared to the same period in the
prior year by 30%.  The company's cash flow has been severely
limited due to the effects of payments made in early 2006.  
Severance of production pursuant to regulatory issues further
impaired the company's ability to generate revenue and cash.

Well service revenue also declined by 59% to $195,641 for the
three months ended Sept. 30, 2007, as compared with the same
period in the prior year.  A number of wells were either severed
or not producing due to maintenance issues.

For the three months ended Sept. 30, 2007, gas sales totaled
approximately $497,000.  For the same period in 2006, gas sales
totaled approximately $569,000.

At Sept. 30, 2007, the company's consolidated balance sheet showed
$36.2 million in total assets, $20.5 million in total liabilities,
and $15.7 million in total shareholders' equity.

The company's consolidated balance sheet at Sept. 30, 2007, also
showed strained liquidity with $2.5 million in total current
assets available to pay $15.9 million in total current
liabilities.

Full-text copies of the company's consolidated financial
statements for the quarter ended Sept. 30, 2007, are available for
free at http://researcharchives.com/t/s?25c9

                       Going Concern Doubt

Turner, Stone & Company LLP in Dallas, expressed substantial doubt
about Energytec Inc.'s ability to continue as a going concern
after auditing the company's financial statements for the years
ended Dec. 31, 2006, and 2005.  The auditing firm said that the
company does not currently have cash reserves sufficient to meet
its capital and operational expenditure budget of approximately
$22,400,000 for the year ending Dec. 31, 2007.  

The company believes that it may also have potential liability for
rescission or damages to investors in the working interest
programs or purchasers of the company's common stock in private
placements.

                       About Energytec Inc.

Energytec Inc. (Other OTC: EYTC.PK) -- http://www.energytec.com/
-- was formed for the purpose of engaging in oil and gas producing
activities through the acquisition of oil and gas properties that
have previously been the object of exploration or producing
activity, but which are no longer producing or operating due to
abandonment or neglect.  The company owns working interests in
58,602 acres of oil and gas leases in Texas and Wyoming.  The
company also owns a gas pipeline of approximately 63 miles in
Texas and a well service business, a drilling business, and a
sales and distribution business for enhanced oil recovery
chemicals and materials related to well operation services.


EQUIFIRST MORTGAGE: Fitch Rates $7.6MM Class B-1 Certs. at BB-
--------------------------------------------------------------
Fitch Ratings has taken these rating actions on Equifirst Mortgage
Loan Trust series 2005-1.  Affirmations total
$227.1 million and classes placed on Rating Watch Negative total
$21.5 million.  Break Loss percentages and Loss Coverage Ratios
for each class are included with the rating actions as:

Equifirst 2005-1
  -- $54.8 million class A affirmed at 'AAA' (BL: 88.59, LCR:
     9.18);
  -- $44.9 million class M-1 affirmed at 'AA+' (BL: 71.18, LCR:
     7.38);
  -- $26.8 million class M-2 affirmed at 'AA' (BL: 60.66, LCR:
     6.29);
  -- $15.3 million class M-3 affirmed at 'AA-' (BL: 51.91, LCR:      
     5.38);
  -- $15.3 million class M-4 affirmed at 'A+' (BL: 34.65, LCR:
     3.59);
  -- $14.5 million class M-5 affirmed at 'A' (BL: 30.97, LCR:
     3.21);
  -- $14.5 million class M-6 affirmed at 'A-' (BL: 27.32, LCR:
     2.83);
  -- $14.9 million class M-7 affirmed at 'BBB+' (BL: 23.62,
     LCR: 2.45);
  -- $10.3 million class M-8 affirmed at 'BBB' (BL: 20.99, LCR:
     2.18);
  -- $7.6 million class M-9 affirmed at 'BBB-' (BL: 18.94, LCR:
     1.96);
  -- $7.6 million class B-1 affirmed at 'BB+' (BL: 16.96, LCR:
     1.76);
  -- $13.8 million class B-2 rated 'BB' (BL: 13.25, LCR: 1.37),
     placed on Rating Watch Negative;
  -- $7.6 million class B-3 rated 'BB-' (BL: 11.61, LCR: 1.2),
     placed on Rating Watch Negative;

Deal Summary
  -- Originators: Equifirst (100%)
  -- 60+ day Delinquency: 18.01%,
  -- Realized Losses to date (% of Original Balance): 1.36%;
  -- Expected Remaining Losses (% of Current Balance): 9.65%;
  -- Cumulative Expected Losses (% of Original Balance): 4.58%.

The rating actions are based on changes that Fitch has made to its
subprime loss forecasting assumptions.  The updated assumptions
better capture the deteriorating performance of pools from 2007,
2006 and late 2005 with regard to continued poor loan performance
and home price weakness.


EUROPEAN AMERICAN: U.S. Trustee Wants Case Trustee Appointed
------------------------------------------------------------
Donald F. Walton, the United States Trustee for Region 21, asks
the U.S. Bankruptcy Court for the Northern District of Georgia to
direct the appointment of a chapter 11 trustee in European
American Realty Ltd.'s bankruptcy case or in the alternative, to
convert or dismiss the case.

The U.S. Trustee reiterates the provision of Section 1104(e) in
which the U.S. Trustee can appoint a trustee if there are
reasonable grounds of suspect that current members of the
governing body of the debtor ... participated in actual fraud,
dishonesty, or criminal conduct in the management of the debtor or
the debtor's public financial reporting.

                 CEO Toberman's Pending Lawsuits

The U.S. Trustee relates that the Debtor's principal and chief
executive officer, Scott K. Toberman, was indicted in the Northern
District of Illinois based on an alleged $3 million fraud scheme
in an indictment published on Sept. 19, 2007.  

Allegedly, Mr. Toberman used stolen funds for his personal benefit
purchasing items such as fine wine and antiques, paying tuition at
Harvard University, and paying debts incurred by Toberman in
connection with his efforts to develop the tallest building in
Chicago.

In addition to the pending indictment, Mr. Toberman is the subject
of litigation pending in the Superior Court of Fulton County,
Georgia, styled Scott Toberman, Plaintiff, v. LaRose Limited
Partnership, et al., Defendants.

According to the U.S. Trustee, Toberman challenged the
enforceability of a so-called Binding Term Sheet into
which Mr. Toberman entered with certain partnerships whose
properties were being managed by the Debtor and related entities.  
The partnerships filed a counterclaim against Toberman, the
Debtor, and related entities.

On May 24, 2007, with the issuance of partial summary judgment,
the Superior Court found that on April 25, 2005, the partnerships
confronted Mr. Toberman with accusations of mismanagement and
misappropriation of business funds in excess of $10 million.

To settle their dispute, the partnerships and Mr. Toberman entered
into a Binding Term Sheet pursuant to which Mr. Toberman agreed to
pay the partnerships $7.5 million on payment terms set forth in
the BTS.  Mr. Toberman pledged all of his assets to secure
payment.

The Superior Court ruled in the partial summary judgment that the
BTS is enforceable and, accordingly, the partnerships could
enforce its terms or seek damages for any breach.

               Conversion or Dismissal of Case

The U.S. Trustee quotes the provision in Section 112(b) of the
Code that states, "[T]he court shall convert a case under this
chapter to a case under chapter 7 or dismiss a case under this
chapter, whichever is in the best interests of creditors and the
estate, if the movant establishes cause. . . ."

According to the U.S. Trustee, the Debtor has not yet filed its
schedules of assets and debts, nevertheless, the partial summary
judgment issued by the Superior Court gives insight to what assets
the Debtor has.

Pursuant to the BTS, Mr. Toberman pledged all of his assets to pay
$7.5 million, including his interest in the Debtor.  The Superior
Court ruled that the partnerships which took action against Mr.
Toberman were entitled to payment from Mr. Toberman and related
entities including the Debtor.

The U.S. Trustee says that the Debtor derives its income from
property management fees, which constitutes the Debtor's only cash
assets.

Based on the the partial summary judgment, it does not appear that
the Debtor's only cash assets are available to the Debtor to fund
its case.

The U.S. Trustee contests that "even at this early stage of the
case, the enforceability of the BTS makes it clear that the Debtor
has no ability to reorganize."

Consequently, the United States Trustee tells the Court that
without its direction to appoint a chapter 11 trustee in the case,
the Court should order to convert the case to chapter 7 or dismiss
the case.

The Court has scheduled a continued hearing on the U.S. Trustee's
motion tomorrow, Nov. 29, 2007, at 3:00 p.m.

Leroy Culton, Esq., represents Donald F. Walton, U.S. Trustee.

                      About European American

Atlanta, Georgia-based European American Realty Ltd. is engaged in
the real estate business.  The Debtor filed for chapter 11
bankruptcy protection on Sept. 21, 2007 (Bankr. N.D. Ga. Case No.
07-75353).  J. Robert Williamson, Esq. at Scroggins and Williamson
represents the Debtor in its restructuring efforts.  When the
Debtor filed for bankruptcy, it listed assets and debts between
$1 million and $100 million.


EUROPEAN AMERICAN: Court Removes Stay on AlliedBarton's Sublease
----------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Georgia
granted AlliedBarton Security Services LLC relief from automatic
stay and to possess the premises at Piedmont Center, Building 5,
Suite 110, Atlanta in Fulton County, Georgia, which was subleased
from European American Realty Ltd.

                     Sublease at Fulton County

On Dec. 17, 1992, the California State Teacher's Retirement System
(predecessor-in-interest of TR Piedmont Center Corp.), landlord,
and Barton Protective Services Inc. (predecessor-in-interest of
AlliedBarton), tenant, executed a Master Lease of the Premises.

The master lease requires AlliedBarton to return the premises in
broom clean condition on Oct. 31, 2007.

On May 19, 2006, AlliedBarton and the Debtor entered into a
sublease agreement, which expires by its own terms on Oct. 31,
2007.  Under the sublease agreement, the Debtor must vacate the
premises as of Oct. 30, 2007.

The Debtor, which filed for bankruptcy of Sept. 21, 2007, has as
of Oct. 22, 2007, not vacated the premises.

As of the bankruptcy filing, the Debtor owes AlliedBarton $39,000
in unpaid rental obligations.

                     Bankruptcy Court Ruling

The Court determined that the sublease is not a property of the
estate.

The Court ordered that effective Oct. 30, 2007, AlliedBarton is
permitted to enter and possess the premises from the Debtor.

The Debtor's property remaining in the premises will be transfered
to a storage for the benefit of the estate.

The Court further ordered that on or before Nov. 30, 2007, the
Debtor should agree to take possession of the property or arrange
for its storage at its own expense.

In addition, to the extent that AlliedBarton removes and stores
the Debtor's property, AlliedBarton will have an allowed
administrative expense claim for the incurred costs.  AlliedBarton
will also not be held liable for any loss or damage resulting from
the removal and storage of the property so long as it exercises
with care.

                     About European American

Atlanta, Georgia-based European American Realty Ltd. is engaged in
the real estate business.  The Debtor filed for chapter 11
bankruptcy protection on Sept. 21, 2007 (Bankr. N.D. Ga. Case No.
07-75353).  J. Robert Williamson, Esq. at Scroggins and Williamson
represents the Debtor in its restructuring efforts.  When the
Debtor filed for bankruptcy, it listed assets and debts between
$1 million and $100 million.


FAIRPOINT COMM: Accepts Verizon's Pick for Board of Directors
-------------------------------------------------------------
Verizon has submitted the names of three designees to fill open
seats on FairPoint Communications Inc.'s board of directors, which
is called for in the merger agreement under which FairPoint has
agreed to acquire Verizon's landline operations in Maine, Vermont
and New Hampshire.

The three designees are Robert A. Kennedy, president of the
University of Maine; Michael R. Tuttle, president and chief
executive officer of Merchants Bank; and Thomas F. Gilbane, Jr.,
chairman and chief executive officer of Gilbane Building Company.

Mssrs. Gilbane, Kennedy and Tuttle will be appointed to the
FairPoint board simultaneously with the closing of the
acquisition.

"These three designees, all from New England, will complement the
depth, experience and commitment of our current board of
directors," Gene Johnson, chairman and chief executive officer of
FairPoint, said.  "Like our lead director Bonnie Newman -- herself
a northern New Englander who has years of leadership experience
and association with professional groups within New England --
these designees are rooted in business, academia and finance."

"Each of them will provide meaningful insight and wisdom, ably
representing our largest service area, and acting in the best
interests of our shareholders and customers. We look forward to
their addition upon the close of the transaction," he concluded.

Mr. Kennedy became the University of Maine's 18th president on
April 15, 2005.  He arrived at the university in 2000, first
serving as vice president for academic affairs and provost,
followed by an eight-month term as interim president.  

Mr. Kennedy graduated from the University of Minnesota-Twin
Cities, in 1968.  After service in the U.S. Army, he earned a
Ph.D. in botany from the University of California-Berkeley. He has
held numerous positions at colleges and universities across the
country including the University of Iowa, Washington State
University, The Ohio State University, the University of Maryland
and Texas A&M University.  President Kennedy is a corporator of
Bangor Savings Bank and a volunteer with the Maine Special
Olympics.

Mr. Tuttle has been the president and CEO of Merchants Bank, a
commercial bank with headquarters in Burlington, Vermont, since
Jan. 1, 2006.  He was the chief operating officer and senior
lender of Merchants Bank from 1997 through 2005.  He is also a
director of Merchants Bancshares.  Mr. Tuttle received a Bachelor
of Arts degree in economics from St. Lawrence University in 1977,
and is a long-time resident of South Burlington.

Mr. Gilbane has served as chairman and CEO of Rhode Island-based
Gilbane Building Company, a general contractor and construction
manager, since Jan. 1, 2004.  He has also served as vice president
of Gilbane Inc., the parent company of Gilbane Building Company
and Gilbane Development Company.

He is a graduate of Harvard's Graduate School of Business Advanced
Management Program.  He also received a Master of Science degree
in civil engineering from Massachusetts Institute of Technology
and holds a Bachelor of Science/Bachelor of Arts degree in
business management from Babson College.

                 About FairPoint Communications

Based in Charlotte, North Carolina, FairPoint Communications Inc.
(NYSE: FRP) -- http://www.fairpoint.com/-- provides    
communications services to rural and small urban communities
across the country.  Today, FairPoint owns and operates 30 local
exchange companies located in 18 states offering an array of
services, including local and long distance voice, data, Internet
and broadband offerings.

                          *     *     *

FairPoint Communications Inc. carries to date Moody's Investor
Services' "B1" probability of default and long term corporate
family ratings, which were placed in January 2005 with a stable
outlook.


FIELDSTONE MORTGAGE: Loan Delinquencies Spurs Bankruptcy Filing
---------------------------------------------------------------
Fieldstone Mortgage Corp. has filed for Chapter 11 protection in
the U.S. Bankruptcy Court for the District of Maryland on Friday,
citing loan payment lapses and credit market woes, according to
various reports.

In September, Fieldstone was the target of a lawsuit by Morgan
Stanley over 72 mortgages worth $26.5 million that had no, or
late, payments, Ben Mook of The Daily Record said.  The company
has trimmed its workforce from 1,000 employees to a mere 25
workers.

The company's Website disclosed that Fieldstone has ceased
accepting loan applications and funding mortgage loans.  It also
have ceased accepting applications for broker approvals.  The
company posted that it will continue to work with customers and
brokers in providing them with information they have submitted to
us during this difficult time.

Joel I. Sher, Fieldstone's bankruptcy attorney, suggested that
Fieldstone Mortgage and its parent Fieldstone Investment Corp.
were acquired in July by subprime mortgage investor Credit-Based
Asset Servicing and Securitization LLC, known as C-BASS.  While
the new owner acquired all of Fieldstone's outstanding stock, it
did not take on its debts under the deal.

The company's case summary and list of 20 largest unsecured
creditors was reported in yesterday's Troubled Company Reporter.

Headquartered in Columbia, Maryland, Fieldstone Mortgage Co. --
http://www.fieldstonemortgage.com/-- is a direct lender that  
offers mortgage loans for multiple credit situations in the United
States.


FISHER COMMS: Posts $533,000 Net Loss in Third Quarter of 2007
--------------------------------------------------------------
Fisher Communications Inc. disclosed its financial results for the
three-month and nine-month periods ended Sept. 30, 2007.

Net loss for the third quarter of 2007 was $533,000, compared to a
net loss of $671,000 in the third quarter of 2006.  In both years,
third quarter net loss was comprised of continuing and
discontinued operations.  Third quarter 2007 loss from continuing
operations was $601,000, compared to $784,000 for third quarter
2006, which included tax expense adjustments of $448,000 and
$388,000, respectively, as a result of IRS audits of prior year
federal tax returns.  Discontinued operations reflect the after-
tax operating results attributable to the Company's small-market
radio stations sold or held for sale.  In the second quarter of
2007, the Company sold one of the remaining six radio stations
held for sale for $3.0 million.  Income from discontinued
operations includes a gain on the sale of $1.5 million (net of
tax) for the nine months ending Sept. 30, 2007.

Loss from continuing operations for the nine months ending
September 30, 2007, was $1.2 million, compared to $779,000 for the
same period of 2006.  Including income from discontinued
operations, consolidated net income was $478,000, compared to a
net loss of $104,000 in the same period of 2006.

Revenues for the third quarter of 2007 were $40.8 million,
reflecting an increase of $2.1 million or 5% over the third
quarter of 2006.  For the nine months of 2007, total revenue
increased $6.4 million, or 6%, compared to the same period of
2006.

Television revenue increased $1.1 million, or 4%, in the third
quarter of 2007, over the third quarter of 2006.  Radio revenue
increased $679,000, or 6%, in the same quarter-over-quarter
period.  On a year-to-date basis, television and radio revenue
increased 5% and 3%, respectively, compared to the same period of
2006.

Fisher Plaza revenue increased 19% in the third quarter and 28% in
the first nine months of 2007, primarily as a result of increased
average occupancy, rental rates and services fees compared to the
same periods of 2006.  Fisher Plaza occupancy was 96% as of
Sept. 30, 2007.

"The third quarter of 2007 continued our trend of revenue growth,"
Colleen B. Brown, president and chief executive officer of Fisher
Communications, said.  "The revenue increase was driven by
Fisher's expanding efforts in Spanish-language television,
increased broadcast advertising, increased rental income from
Fisher Plaza, and an improved news performance.  During the final
quarter of the year, we will grow our Univision affiliated
stations revenue and expand our Internet presence."

At Sept. 30, 2007, the company's balance sheet showed total assets
of $492.9 million and total liabilities of $254.9 million,
resulting in a stockholders' equity of $238.0 million.  Equity at
Dec. 31, 2006, was $239.5 million.

Headquartered in Seattle, Washington, Fisher Communications Inc.
(NASDAQ: FSCI) -- http://www.fsci.com/-- is a communications  
company that owns or manages twelve full power and seven low power
television stations and nine radio stations in the Pacific
Northwest.  The company owns and operates Fisher Pathways, a
satellite and fiber transmission provider, and Fisher Plaza, a
media, telecommunications, and data center facility located near
downtown Seattle.

                          *     *     *

Standard & Poor's Ratings Services recently removed from
CreditWatch and affirmed its ratings on TV broadcaster Fisher
Communications Inc., including the 'B-' corporate credit rating.  
The outlook is positive.  Standard & Poor's had originally placed
the ratings on CreditWatch with positive implications on June 14,
2007.


FNBA MORTGAGE: Declining Credit Support Cues S&P to Cut Rating
--------------------------------------------------------------
Standard & Poor's Ratings Services lowered its rating on the class
M-3 mortgage pass-through certificates from FNBA Mortgage Loan
Trust 2004-AR1 to 'B' from 'BB' and removed it from
CreditWatch, where it was placed with negative implications on
Oct. 25, 2007.  Additionally, S&P affirmed its ratings on the
remaining five classes from the same transaction.
     
S&P downgraded class M-3 because current credit support has
continued to decline and the projected credit support percentage
is below the level required at the 'BB' rating category.  As of
the October 2007 remittance period, the six-month average loss
totaled $96,440, up from the 12-month
average loss of $60,697.  Overcollateralization, excess interest,
and subordination provide credit enhancement for this transaction.  
The series is 37 months seasoned, and O/C has been reduced by
approximately $599,210 over the past 12 months.        

The affirmations reflect sufficient current and projected credit
support percentages to maintain the current ratings, as reported
during the October 2007 remittance period.
     
The collateral for this series consists primarily of hybrid
mortgage loans secured by first liens on one- to four-family
residential properties.  All of the loans were originated or
purchased by FNBA Financial Corp.


      Rating Lowered and Removed from Creditwatch Negative

               FBNA Mortgage Loan Trust 2004-AR1
               Mortgage pass-through certificates

                                   Rating
                                   ------
               Class          To             From
               -----          --             ----
               M-3            B              BB/Watch Neg

                       Ratings Affirmed

               FBNA Mortgage Loan Trust 2004-AR1
               Mortgage pass-through certificates

                Class                    Rating
                -----                    ------
                A-1, A-2, A-3            AAA
                M-1                      AA
                M-2                      A


FORD MOTOR: Strike Continues Despite Initial Wage Agreement
-----------------------------------------------------------
The strike at Ford Motor Co.'s site in Vsevolozhsok, Russia,
continues despite a meeting between company management and
employees on Nov. 26, 2007, The Associated Press reports.

According to union chief Alexei Etmanov, the management agreed in
principle to raise wages, but did not disclose concrete figures,
AP relates.

"We haven't agreed on anything," Mr. Etmanov was quoted by the
Associated Press as saying.

Ford, meanwhile, said it would resume production today, Nov. 28,
with non-striking employees working on single shift.

"We are not going to comment on the management's intentions," Mr
Etmanov commented.  "Let them try to restart the assembly line,
and we'll see.  We are going to continue the strike."

As reported in the Troubled Company Reporter on Nov. 23, 2007,
workers launched an indefinite strike on Nov. 20, 2007, demanding
higher wages and reduction of night shifts from March 2008.  The
strike halted the Ford Focus production line, RIA Novosri reports.

According to reports, Ford's workers held a 19-hour strike on
Nov. 6, 2007, after management repeatedly rejected their pay
hike demands.  They returned to work after a court ordered the
union to postpone further action until Nov. 20, 2007.

The Vsevolozhsk plant produced about 60,000 cars in 2006, mainly
the Focus model, and plant officials have said they were hoping to
increase production to 75,000 for 2007.

                       About Ford Motor Co.

Headquartered in Dearborn, Michigan, Ford Motor Co. (NYSE: F) --
http://www.ford.com/-- manufactures or distributes automobiles in       
200 markets across six continents.  With about 260,000 employees
and about 100 plants worldwide, the company's core and affiliated
automotive brands include Ford, Jaguar, Land Rover, Lincoln,
Mercury, Volvo, Aston Martin, and Mazda.  The company provides
financial services through Ford Motor Credit Company.

The company has operations in Japan in the Asia Pacific region.
In Europe, the company maintains a presence in Sweden, and the
United Kingdom.  The company also distributes its brands in
various Latin American regions, including Argentina and Brazil.

                          *     *     *

As reported in the Troubled Company Reporter on Nov. 19, 2007,
Moody's Investors Service affirmed the long-term ratings of Ford
Motor Company (B3 Corporate Family Rating, Ba3 senior secured,
Caa1 senior unsecured, and B3 probability of default), but changed
the rating outlook to Stable from Negative and raised the
company's Speculative Grade Liquidity rating to SGL-1 from SGL-3.  
Moody's also affirmed Ford Motor Credit Company's B1 senior
unsecured rating, and changed the outlook to Stable from Negative.  
These rating actions follow Ford's announcement of the details of
the newly ratified four-year labor agreement with the UAW.


FORD MOTOR: Kentucky State Approves $60 Mil. Investment Incentives
------------------------------------------------------------------
Ford Motor Company received final approval from the Kentucky
Economic Development Finance Authority to a $60 million tax
incentive package, smoothing the path for Ford to invest
$200 million in the Kentucky Truck Plant on Chamberlain Lane,
various papers report.

The state has offered the package as part of a larger $200 million
package, enticing Ford to cancel plans of shuttering the Kentucky
Truck Plant and the Louisville Assembly Plant, Jere Downs of The
Courier-Journal reports.

The approval, sources say, came with the condition directing Ford
to return some of the tax incentives if employment at the Kentucky
Truck Plant falls below a 3,511-worker minimum by 2012.  However,
should Ford invest $100 million more in either plant, those
penalties will be abolished.

The Courier-Journal discloses, citing KEDFA staff member Steve
Jones, that the state was hoping the move might instigate Ford to
invest more on the Louisville Assembly Plant.

Headquartered in Dearborn, Michigan, Ford Motor Co. (NYSE: F) --
http://www.ford.com/-- manufactures or distributes automobiles in       
200 markets across six continents.  With about 260,000 employees
and about 100 plants worldwide, the company's core and affiliated
automotive brands include Ford, Jaguar, Land Rover, Lincoln,
Mercury, Volvo, Aston Martin, and Mazda.  The company provides
financial services through Ford Motor Credit Company.

The company has operations in Japan in the Asia Pacific region.
In Europe, the company maintains a presence in Sweden, and the
United Kingdom.  The company also distributes its brands in
various Latin American regions, including Argentina and Brazil.

                          *     *     *

As reported in the Troubled Company Reporter on Nov. 19, 2007,
Moody's Investors Service affirmed the long-term ratings of Ford
Motor Company (B3 Corporate Family Rating, Ba3 senior secured,
Caa1 senior unsecured, and B3 probability of default), but changed
the rating outlook to Stable from Negative and raised the
company's Speculative Grade Liquidity rating to SGL-1 from SGL-3.  
Moody's also affirmed Ford Motor Credit Company's B1 senior
unsecured rating, and changed the outlook to Stable from Negative.  
These rating actions follow Ford's announcement of the details of
the newly ratified four-year labor agreement with the UAW.


FREMONT HOME: Fitch Lowers Ratings on $51.1 Million Certificates
----------------------------------------------------------------
Fitch Ratings has taken these rating actions on Fremont Home Loan
Trust mortgage pass-through certificates, series 2005-1.
Affirmations total $391.1 million and downgrades total
$51.1 million.  Break Loss percentages and Loss Coverage Ratios  
for each class are included with the rating actions as:

Fremont Home Loan Trust 2005-1
  -- $7.7 million class A affirmed at 'AAA' (BL: 99.60, LCR:
     6.37);
  -- $108.1 million class M-1 affirmed at 'AA+' (BL: 85.48,
     LCR: 5.47);
  -- $80.1 million class M-2 affirmed at 'AA' (BL: 67.55, LCR:
     4.32);
  -- $37.6 million class M-3 affirmed at 'AA-' (BL: 52.27, LCR:
     3.34);
  -- $34.7 million class M-4 affirmed at 'A+' (BL: 50.26, LCR:
     3.22);
  -- $40.5 million class M-5 affirmed at 'A' (BL: 41.42, LCR:
     2.65);
  -- $31.8 million class M-6 affirmed at 'A-' (BL: 34.18, LCR:
     2.19);
  -- $26.0 million class M-7 affirmed at 'BBB+' (BL: 28.10,
     LCR: 1.80);
  -- $24.1 million class M-8 affirmed at 'BBB' (BL: 22.40, LCR:
     1.43);
  -- $19.3 million class M-9 downgraded to 'BB' from 'BBB-'
     (BL: 17.52, LCR: 1.12);
  -- $12.5 million class B-1 downgraded to 'BB-' from 'BB+'
     (BL: 14.12, LCR: 0.90);
  -- $19.3 million class B-2 downgraded to 'C/DR4' from 'BB'
     (BL: 10.45, LCR: 0.67).

Deal Summary
  -- Originators: 100% Fremont Investment & Loan;
  -- 60+ day Delinquency: 32.79%;
  -- Realized Losses to Date (% of Original Balance): 1.28%;
  -- Expected Remaining Losses (% of Current Balance): 15.63%;
  -- Cumulative Expected Losses (% of Original Balance): 4.98%.

The rating actions are based on changes that Fitch has made to its
subprime loss forecasting assumptions.  The updated assumptions
better capture the deteriorating performance of pools from 2006
and late 2005 with regard to continued poor loan performance and
home price weakness.


GPS INDUSTRIES: Sept. 30 Balance Sheet Upside-Down by $1 Million
----------------------------------------------------------------
GPS Industries Inc.'s consolidated balance sheet at Sept. 30,
2007, showed $13.9 million in total assets and $14.9 million in
total liabilities, resulting in a $1.0 million total shareholders'
deficit.

The company's consolidated balance sheet at Sept. 30, 2007, also
showed strained liquidity with $9.9 million in total current
assets available to pay $14.9 million in total current
liabilities.

The company reported a net loss of $3.53 million on total revenue
of $988,887 for the third quarter ended Sept. 30, 2007, compared
with a net loss of $3.48 million on revenue of $2.12 million in
the same period last year.

Revenue for the three-month period ended Sept. 30, 2007, decreased
by approximately 53% compared to revenues during the three-month
period ended Sept. 20, 2006, due to a significant decrease in the
sale and installation of golf management systems in the 2007
period.

Net loss for the three-month period ended Sept, 30, 2007, was
substantially similar to the net loss in the 2006 three-month
period even though the 2007 loss from operations was $1.2 million
greater than the loss from operations in the 2006 three-month
period.  This was because the company's other losses, mostly in
interest expense and derivative liability changes, were
$1.1 million higher during the three-month period ended Sept. 30,
2006.  

Full-text copies of the company's consolidated financial
statements for the quarter ended Sept. 30, 2007, are available for
free at http://researcharchives.com/t/s?25ca

                       Bank Line of Credit

The company currently has a bank line of credit for $1,485,000
available to it to fund its operations.  As of Sept. 30, 2007, the
company had borrowed $1,196,000 under this line of credit.  The
line of credit is secured by a one year standby bank letter
of credit for $1,500,000 that was provided by a third party,
Hansen Inc.  As consideration for renewing the standby bank letter
of credit, the company issued to Hansen Inc. common stock purchase
warrants to purchase 1,500,000 shares of common stock, exercisable
at $0.10 per share for a period of three years.  In addition, the
company extended 2,000,000 previously issued warrants which
expired in 2006 to expire in 2008 at a price of $0.05.  

                       Going Concern Doubt

Sherb & Co. LLP, in New York, expressed substantial doubt about
GPS Industries Inc.'s ability to continue as a going concern after
auditing the company's consolidated financial statements for the
year ended Dec. 31, 2006.  The auditing firm pointed to the
company's significant losses and working capital deficiency.

                     About GPS Industries Inc.

Headquartered in Surrey, B.C. Canada, GPS Industries Inc. (OTC BB:
GPSN.OB) -- http://www.gpsindustries.com/-- develops and markets  
GPS and Wi-Fi multimedia solutions to enable managers of golf
facilities, resorts, and residential communities to improve
operational efficiencies and generate significant new revenue
streams.


GS MORTGAGE: Fitch Holds 'BB+' Rating on $534 Mil. Class L Certs.
-----------------------------------------------------------------
Fitch Ratings has affirmed GS Mortgage Securities Corporation II
pass-through certificates series 2007-EOP as:

  -- $989.9 million class A-1 at 'AAA';
  -- $584.8 million class A-2 at 'AAA';
  -- $606.5 million class A-3 at 'AAA';
  -- Interest only class X at 'AAA';
  -- $370.3 million class B at 'AA+';
  -- $432.3 million class C at 'AA'
  -- $220 million class D at 'AA-',
  -- $237.9 million class E at 'A+';
  -- $214.7 million class F at 'A;
  -- $142.4 million class G at 'A-';
  -- $142.4 million class H at 'BBB+';
  -- $395 million class J at 'BBB';
  -- $213.6 million class K at 'BBB-';
  -- $534 million class L at 'BB+'.

While the transaction has paid down 26% since issuance, no updated
financial information is available and affirmations are warranted
at this time.  Fitch will review year end 2007 data as it becomes
available.  As of the October 2007 distribution date, the total
collateral balance has reduced to $5.08 billion from $6.87 billion
at issuance.  This paydown includes two of the top ten mortgaged
assets (15.9%): the Chicago portfolio (9.4%) and the Stamford,
Connecticut properties (6.5%).

The certificates are collateralized by a single $5.08 billion
nonrecourse floating-rate loan secured by 110 office properties,
down from $6.87 billion and 135 properties at issuance.  The
collateral includes mortgages, equity pledges in joint ventures
and cash flow pledges.  In addition, there is $2.4 billion of
mezzanine debt held outside the trust.

The largest property in the pool (15.3%) is the Verizon Building
located across from Bryant Park in mid-town Manhattan.  The
property, which is 100% vacant, is undergoing major interior and
exterior renovations while it is being converted into office
space.  The building is 76.2% pre-leased with occupancy
anticipated to begin in the second quarter of 2008.

The pool remains diverse, with 110 office properties located in 16
major metropolitan statistical areas.  In addition, the pool is
diverse by allocated principal balance with the top ten properties
equal to 33.3% of the collateral balance (excluding the Verizon
Building), with no single property comprising more than 4.8% of
the collateral.

Average occupancy at the properties as of September 2007 remains
strong at 91.5% (excluding the Verizon Building) compared to 91%
at issuance.


HALO TECHNOLOGY: Committee Hires Weiser LLP as Financial Advisor
----------------------------------------------------------------
The Official Commitee of Unsecured Creditors in Halo Technology
Holdings Inc. and its debtor-affiliates' Chapter 11 cases obtained
authority from the U.S. Bankruptcy Court for the District of
Connecticut to retain Weiser LLP as its accountant and financial
advisor.

As reported in the Troubled Company Reporter on Nov. 2, 2007,
Weiser LLP is expected to:

   a) analyze the Debtors' financial operations from the
      petition date;

   b) analyze the Debtors' financial operations prior to the
      petition date;

   c) analyze and advise the Committee and its counsel in the
      development, evaluation and documentation of the
      financial aspects of any plan of reorganization or plan
      of liquidation proposed by the Debtors, or developed by
      the Committee, including developing, structuring and
      negotiating the terms and conditions of such plan and the
      consideration for the unsecured creditors, and prepare
      and submit reports to the members of the committee to aid
      them in evaluating the same;

   d) analyze and assess the Debtors' business operation,
      proposed business plan including compensation, retention
      and severance plans, assumptions/rejection of leases and
      executory contracts, proposed DIP financing agreements,
      proposed assets sale and sale procedures and verification of
      the physical inventory of merchandise, supplies and
      equipment and other material assets and liabilities;

   e) assist the Committee in its analysis of financial
      information including schedules of assets and liabilities,
      statement of financial affairs, monthly statements of
      operations;

   f) assist the Committee in its evaluation of cash flow and
      other financial projections prepared by the Debtors;

   g) evaluate the Debtors' cash management system and
      scrutinize cash disbursements for the period subsequent
      to the petition date;

   h) analyze transactions with insiders, related and/or
      affiliated companies;

   i) analyze transactions with Debtors' lenders;
  
   j) render expert testimony;

   k) attend meetings of creditors and confer with representatives
      of the creditor group, their counsel and representatives of
      the Debtors;

   l) analyze the Debtors' books and records of potential
      preferences, fraudulent conveyances and other potential
      prepetition investigations;

   m) prepare business valuations of the Debtor on a going
      concern basis; and

   n) perform other services that may be requested by the
      Committee.

James Horgan, a partner at the Business Advisory and Recovery
Services group of Weiser LLP, told the Court that the firm's
professional rates are:

      Designation                   Hourly Rate
      -----------                   -----------
      James Horgan                      $395

      Partners/Principals           $350 - $540
      Directors/Senior Managers     $280 - $350
      Assistants to Managers        $125 - $300
      Paraprofessionals              $70 - $125

Mr. Horgan assured the Court that the firm is "disinterested" as
that term is defined in Section 101(14) of the Bankruptcy Code.

Greenwich, Connecticut-based Halo Technology Holdings Inc. fka
Warp Technology Holdings Inc. -- http://www.haloholdings.com/--
is a holding company whose subsidiaries operate enterprise
software and information technology businesses.  The company and
its affiliates filed for chapter 11 protection on Aug. 20, 2007
(Bankr. D. Conn. Lead Case No. 07-50480).  Lawyers at Zeisler &
Zeisler P.C. serve as the Debtors' counsel.  The U.S. Trustee
for Region 2 appointed three creditors to serve on an Official
Committee of Unsecured Creditors in this case.  The Committee have
selected the firm Pepe & Hazard LLP as its bankruptcy counsel.  At
March 31, 2007, the company reported total assets of $47,344,373
and total liabilities of $45,494,297.


HALO TECHNOLOGY: Court Okays Morris Manning as Special Counsel
--------------------------------------------------------------
The United States Bankruptcy Court for the District of Connecticut
gave Halo Technology Holdings Inc. and its debtor-affiliates
authority to employ Morris Manning & Martin LLP as their special
counsel.

As reported in the Troubled Company Reporter on Oct. 12, 2007,
Morris, Manning will perform services in connection with
litigation matters including the case on Cooper, et al., pending
in the U.S. District Court for the Northern District of Georgia.

Specifically, the Debtor requested that Lawrence H. Kunin, Esq., a
partner in the Morris Manning & Martin LLP, represent three of the
Debtors' officers in an Officer Lawsuit of Awald, et al. versus
Rodney A. Bienvenue, Jude Sullivan and Ernest C. Mysogland.  

The Debtors related that the plaintiffs in the Officer Lawsuit are
also plaintiffs in the Halo Lawsuit and the claims are
substantially the same.  However, Mr. Kunin will not represent the
officers in connection with any indemnity claims they might hold
against the Debtors.

Mr. Kunin told the Court of the professionals' hourly rates:

   Professional                      Hourly Rates
   ------------                      ------------     
   Lawrence H. Kunin, Esq., Partner      $410
   Heather C. Brady, Esq., Associate     $335

Mr. Kunin related that the Debtor owed the firm approximately
$25,886.69 for services rendered prior to bankruptcy filing.

Mr. Kunin assured the Court that the firm represents no interest
adverse to the Debtors or their estates and is "disinterested" as
the term is defined in the Section 101(14) of the Bankruptcy Code.

Mr. Kunin can be reached at:

     Morris Manning & Martin LLP
     1600 Atlanta Financial Center
     3343 Peachtree Road, NE
     Atlanta, GA 30326
     Tel (404) 233-7000
     Fax (404)365-9532

Greenwich, Connecticut-based Halo Technology Holdings Inc. fka
Warp Technology Holdings Inc. -- http://www.haloholdings.com/--
is a holding company whose subsidiaries operate enterprise
software and information technology businesses.  The company and
its affiliates filed for chapter 11 protection on Aug. 20, 2007
(Bankr. D. Conn. Lead Case No. 07-50480).  Lawyers at Zeisler &
Zeisler P.C. serve as the Debtors' counsel.  The U.S. Trustee
for Region 2 appointed three creditors to serve on an Official
Committee of Unsecured Creditors in this case.  The Committee have
selected the firm Pepe & Hazard LLP as its bankruptcy counsel.  At
March 31, 2007, the company reported total assets of $47,344,373
and total liabilities of $45,494,297.


HALO TECHNOLOGY: Hires David Rubin as Special Litigation Counsel
----------------------------------------------------------------
The United States Bankruptcy Court District of Connecticut gave
Halo Technology Holdings Inc. and its debtor-affiliates authority
to employ the Law Offices of David W. Rubin as their special
litigation counsel.

The firm is expected to perform services inconnection with
litigation matters, including, the case captioned Halo Technology
Holdings Inc. fka Warp Technology Holdings v. Cooper (Docket No.
07:CIV 3426 PKC) pending before the  U.S. Bankruptcy Court for the
Southern District of New York.

David W. Rubin, Esq., will bill $350 per hour, while Andrew J.
Soltes, Jr., Esq., charges $225 per hour for this engagement.

To the best of the Debtors' knowledge the firm does not hold any
interest adverse to the Debtors' estate and is a "disinterested
person" as defined in Section 101(14) of the Bankruptcy Court.

Mr. Rubin can be reached at:

     David W. Rubin, Esq.
     Law Offices of David W. Rubin
     600 Summer Stree, Suite 201
     Stamford, CT 06901
     Tel: (203) 353-1404
     Fax: (203) 357-7208

Greenwich, Connecticut-based Halo Technology Holdings Inc. fka
Warp Technology Holdings Inc. -- http://www.haloholdings.com/--
is a holding company whose subsidiaries operate enterprise
software and information technology businesses.  The company and
its affiliates filed for chapter 11 protection on Aug. 20, 2007
(Bankr. D. Conn. Lead Case No. 07-50480).  Lawyers at Zeisler &
Zeisler P.C. serve as the Debtors' counsel.  The U.S. Trustee
for Region 2 appointed three creditors to serve on an Official
Committee of Unsecured Creditors in this case.  The Committee have
selected the firm Pepe & Hazard LLP as its bankruptcy counsel.  At
March 31, 2007, the company reported total assets of $47,344,373
and total liabilities of $45,494,297.


HARRISBURG AUTHORITY: Defaults on $84 Million Retrofit Bond
-----------------------------------------------------------
Harrisburg Authority failed to make $3.1 million bond payment on
the city's incinerator which was due Monday noon, Clear Channel
Broadcasting reports.

The missed payment triggered a default on the Authority's
$84 million retrofit bond, Eric Veronikis writes for the Central
Penn Business Journal.

Last week, Central Penn says, the City Council had permitted the
Authority to loan $30 million, to which the Dauphin County
Commissioners agreed to act as second guarantor upon certain
conditions.

However, Authority chairman and chief executive officer James E.
Ellison says, the Commissioners' conditions were unacceptable
since they will jeopardize the "independence and autonomy of the
[A]uthority", Central Penn relates.  The Commissioners proposed
that the Authority ask for their permission for any expenditures
beyond $250,000, Central Penn says, citing Mr. Ellison.


INTERACTIVE MOTOR: Sept. 30 Balance Sheet Upside-Down by $4.2 Mil.
------------------------------------------------------------------
Interactive Motorsports & Entertainment Corp.'s consolidated
balance sheet at Sept. 30, 2007, showed $1,792,718 in total assets
and $5,984,685 in total liabilities, resulting in a $4,191,967
total shareholders' deficit.

The company's consolidated balance sheet at Sept. 30, 2007, also
showed strained liquidity with $778,968 in total current assets
available to pay $4,264,289 in total current liabilities.

The company reported net income of $39,291 on total revenues of
$1,056,796 in the third quarter ended Sept. 30, 2007, compared
with a net loss of $317,585 on total revenues of $921,026 in the
same period of 2006.  The improvement in total revenues mainly
reflects increased store sales and simulator sales in the three
month period ending Sept. 30, 2007.

The company's profit from operations during the three months ended
Sept. 30, 2007, was $211,394 compared to an operating loss during
the three months ended Sept. 30, 2006, of $166,413.

Full-text copies of the company's consolidated financial
statements for the quarter ended Sept. 30, 2007, are available for
free at http://researcharchives.com/t/s?25cb

                  About Interactive Motorsports

Headquartered in Indianapolis, Indiana, Interactive Motorsports &
Entertainment Corp. (OTC BB: IMTS) through its wholly owned
subsidiary, Perfect Line Inc., manufactures two versions of race
car simulators and sells racing experiences to the public through
revenue sharing and marketing agreements for the "out-of-home"
interactive gaming market.


INVERNESS MEDICAL: Acquiring ParadigmHealth Inc. for $230 Million
-----------------------------------------------------------------
Inverness Medical Innovations Inc. has entered into a definitive
agreement to acquire ParadigmHealth Inc.  The transaction is
structured as an all cash deal, with a purchase price of
approximately $230 million.

"The acquisition of ParadigmHealth is a significant step in our
strategy to become a leader in disease and health management
services," Ron Zwanziger, CEO of Inverness stated.  "When combined
with our prior acquisitions of QAS and Alere, ParadigmHealth will
contribute to our goal of enabling individuals to manage their
health effectively."

"We're very pleased to be joining the Inverness family of
companies because our objectives are the same: to help patients,
their families, and their physicians make better
health choices and to improve care by providing information,
coaching support, and advanced technologies. Our focus on the high
acuity complex patient and our decision support technology will be
a perfect complement to the products and services of Inverness and
its new subsidiary Alere," John Penrose, CEO of ParadigmHealth,
added.

Closing is conditioned on clearance under the Hart-Scott Rodino
Act, approval by ParadigmHealth's stockholders, and other
customary closing conditions.

Inverness was represented by Goodwin, Procter and advised by
Covington Associates, LLC; ParadigmHealth was represented by
Orrick, Herrington and advised by UBS Securities LLC.

                       About Paradigm Inc.

Headquartered in New Jersey, ParadigmHealth Inc. --
http://www.paradigmhealth.com/-- is a provider and integrator of  
care and disease management services for health plans and
employers.  The company's care management services and innovative
technologies work in concert to improve
quality and lower costs by matching the appropriate information
and intervention with the individual needs of patients and
families.  ParadigmHealth's services focus on the management of
premature and medically complex neonates and patients with late-
stage cancer, end-of-life care issues, multiple co-morbidities,
and severe trauma.

                     About Inverness Medical

Based in Waltham, Massachusetts, Inverness Medical Innovations
Inc. (AMEX: IMA) -- http://www.invernessmedical.com/-- develops,  
manufactures and markets in vitro diagnostic products for the
over-the-counter pregnancy and fertility/ovulation test market and
the professional rapid diagnostic test markets.

                          *     *     *

Moody's placed Inverness Medical's subordinated debt rating at
'Caa1' as well as the company's long term corporate family and
probability of default ratings at 'B2' in June 2007.  The ratings
still hold to date with a stable outlook.


JAYS FOODS: $25,400,000 La Salle DIP Pact Gets Final Court Okay
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Illinois
gave Jays Foods Inc. and Select Snacks Inc. authority, on a final
basis, to access up to $25,400,000 of the postpetition financing
provided by La Salle Business Credit LLC.

The DIP facility will accrue interest on the outstanding principal
amount at a rate equal to the prime rate plus 2%.

As adequate protection, the Debtors grant La Salle valid, binding,
enforceable and perfected liens in all of their assets.

                            Asset Sale

Part of the DIP Agreement is the sale of the Debtors' business.

Prior to bankruptcy filing, the Debtors signed an asset purchase
agreement for the sale of its business to Jay's Acquisition Inc.
Jay's Acquisition offered $24,850,000 for the assets, subject to
certain adjustments.   

In addition, Jay's bid provides that, from the $24,850,000
purchase
price, $1,650,000 will be paid to the Debtors' bankruptcy estates
to satisfy liabilities and obligations of the estates.

LaSalle consented to the proposed sale and agreed to make a loan
available to the Debtors.  LaSalle also agreed that if a closing
occurs, LaSalle will pay, from closing proceeds, all accrued,
postpetition, unpaid wage claims of the Debtors' employees.

Pursuant to the Court's final order, deadline for submission of
qualified bids on the assets are due at 11:00 a.m. today, Nov. 28,
2007.

Auction of the assets will be held at 11:00 a.m. on November 30.  
The hearing to consider approval of the results of the public
sale was set for December 4 at 10:30 a.m.

                        About Jays Foods

Chicago-based Jays Foods Inc. -- http://www.jaysfoods.com/--     
wholesales confectionery products and manufactures snack chip
products.  Jays Foods leases real property, and owns certain
equipment, in Chicago, Illinois where it operates a manufacturing
facility that makes snacks mostly under the Jays, O-KE-DOKE and
Krunchers brand names.  Jays is 100% owned by Jays Holding
Company, Inc.

The company, then known as Jays Food LLC, first filed for chapter
11 protection on March 5, 2004 (Bankr. N.D. Ill. Case No. 04-
08681).  David Missner, Esq., Marc I. Fenton, Esq. and Thomas
Zwartz, Esq. at Piper Rudnick LLP were counsels to the Debtor.  In
the March 2004 case, a Section 363 sale took place and most of the
assets of former Jays Foods were sold to Jays Foods Acquisition
Inc., predecessor to Jays Foods Inc.  The March 2004 case was
closed on or about March 9, 2007.

Select Snacks Inc., on the other hand, owns real property,
improvements and equipment in Jeffersonville, Indiana where it
operates a manufacturing facility that makes private label and co-
manufactured snacks for its customers.  Select Snacks is 100%
owned by Select Snacks Holdings Company, Inc.

Both Select Holding and Jays Holding are 100% owned by Ubiquity
Brands LLC.

As of the Oct. 11, 2007, the Debtors had approximately 943
employees of which Select has 262 (211 union employees and, 51
non-union employees) and Jays has 681 total employees (236 union
employees and 445 non-union employees).

Jays Foods and Select Snacks filed voluntary chapter 11 petitions
on Oct. 11, 2007 (Bankr. N.D. Ill. Case Nos. 07-18768 and
07-18769).  Mark K. Thomas, Esq., Brian I. Swett, Esq., Jeremy T.
Stillings, Esq., Myja K. Kjaer, Esq., at Winston & Strawn LLP,
represent the Debtors.  Kurtzman Carson Consultants LLC serve as
their notice, claims and balloting agent.  When they sought
protection from their creditors, they listed assets and debts
between $10 million and $50 million.


JOHNSON JUNCTION: Case Summary & 26 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Johnson Junction, Inc.
        P.O. Box 100
        Dillard, GA 30537

Bankruptcy Case No.: 07-22470

Debtor-affiliate filing separate Chapter 11 petition:

      Entity                                 Case No.
      ------                                 --------
      J. William Johnson                     07-22468

Chapter 11 Petition Date: November 26, 2007

Court: Northern District of Georgia (Gainesville)

Judge: Robert Brizendine

Debtors' Counsel: M. Denise Dotson, Esq.
                  Jones & Walden, LLC
                  21 Eighth Street, Northeast
                  Atlanta, GA 30309
                  Tel: (404) 564-9300
                  Fax: (404) 564-9301

Estimated Assets: $1 Million to $100 Million

Estimated Debts:  $1 Million to $100 Million

A. Johnson Junction, Inc.'s list of its 14 Largest Unsecured
   Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Manning Gros Equipment Co.          Loan                  $52,874
21 Sandy Creek Drive
Athens, GA 30607

Rabun County Tax Commissioner       Ad Valorem Taxes      $34,579
25 Courthouse Square
Suite 149
Clayton, GA 30525-4114

Financial Pacific Leasing                                 $24,932
3455 South 344th Way, Suite 300
Federal Way, WA 98001

Regions Bank                        Loan                  $14,098

CitiBusiness Card                   Credit Card            $4,009

Downs & Colquitt, P.C.                                     $3,129

Glooboo, Ltd.                                              $1,926

North Georgia Processing, Inc.                             $1,800

Frantz Grattan Delaoch, LLP                                $1,462

S&D Coffee                                                 $1,345

Macon County News                                          $1,317

Rabun's Laurel, Inc.                                       $1,212

Avaya Financial Services            Business Lease         $1,000

Galloway Design, Ltd.                                        $600

B. J. William Johnson's list of its 12 Largest Unsecured
   Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Option One Mortgage                4 Rose Circle         $262,581
P.O. Box 44042                     Clayton, GA           Secured:
Jacksonville, FL 32231-4042                               Unknown

Joyce Alexander                    4 Rose Circle          $65,173
134 Cinquapai                      Clayton, GA           Secured:
Sunset, SC 29685                                         Unknown
                                                     Senior Lien:
                                                         $262,581

Rabun County Tax Commissioner      Ad Valorem Taxes        $1,726
25 Courthouse Square
Suite 149
Clayton, GA 30525-4114

                                   Property Taxes         $11,545

Macy's                             Credit Card            $12,029

American Express - Dallas          Credit Card            $12,000

Discover Financial Services        Credit Card             $9,481

Bank of America - Baltimore        Credit Card             $6,983

Bank of America - Wilmington       Credit Card             $5,548

American Express - Ft. Lauderdale  Credit Card             $3,432

Downs & Colquitt, P.C.                                     $1,825

Capital One                        Credit Card               $867

Chase Cardmember Service           Credit Card               $713


JUAN GARCIA: Case Summary & 4 Largest Unsecured Creditors
---------------------------------------------------------
Lead Debtor: Juan Antonio Garcia
             Monica Jeannette Garcia
             dba Garcia Flooring Service
             dba Garcia Graphic Design
             2700 Hoffman Lane
             Byron, CA 94514

Bankruptcy Case No.: 07-44032

Chapter 11 Petition Date: November 26, 2007

Court: Norther District of California (Oakland)

Judge: Randall J. Newsome

Debtor's Counsel: Marc Voisant, Esq.
                  Law Offices of March Voisant
                  1330 Broadway #1035
                  Oakland, CA 94612
                  Tel: (510) 272-9710  

Estimated Assets: $10,000

Estimated Debts: $1million to $100 million

Debtor's 4 Largest Unsecured Creditors:

   Entity                                           Claim Amount
   ------                                           ------------

Citi Cards                                             $19,268
P.O. Box 6404
The Lake, NV 88901-6404

American Express                                       $11,417
Box 0001
Los Angeles, CA 90096-0001         

Washington Mutual                                       $4,943
c\o LC System Inc.
444 Highway 96 East
P.O. Box 64887
St. Paul, MN 55164-0887

Home Depot                                              $4,569
P.O. Box 6028
The Lakes, NV 88901-6028


KESSLER HOSPITAL: Court Confirms Chap. 11 Plan of Reorganization
----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of New Jersey confirmed
William B. Kessler Memorial Hospital Inc.'s Fourth Amended Chapter
11 Plan of Reorganization.

The Disclosure Statement explaining that Plan was approved by
the Court on Oct. 22, 2007.

Under the Plan, the secured claim of Northern Healthcare Capital
Inc. will be paid in accordance with a final order approving
the Debtors' postpetition financing.

The secured claims of creditors holding liens on equipment under
Class 2 will be entitled to separate treatment and voting rights,
according to their respective subclasses:

   Class 2A -- Central Atlantic Leasing's claim will be paid
               $1,000,000 over 120 months in equal monthly
               installments with interest at 7% per annum.

   Class 2B -- Abbot Labs' claim will be paid the value of its
               collateral over 60 months with interest at 7% per
               annum.

   Class 2C -- Sensory Management Services LLC's claim will be
               paid the value of its collateral over 60 months
               with interest at 7% per annum.

Berenato & Pullia and Mar-Dor Building's secured claim for a
property located at 936 Central Avenue, in Hammonton, New Jersey,
will be treated pursuant to a consent order the claim holder
executed with the Debtors.

Pursuant to the Consent Order, the Debtor will provide monthly
payments to Berenato & Pullia in the amount of $684 through
confirmation of the Debtors' Plan.  After confirmation, the Debtor
will pay off the remaining balance due and owing on the property
in the amount of $97,770 and will hold onto the property for
future expansion of the hospital.

The priority claims of creditors with non-union, non-taxing
authority employee related claims, approximately totaling
$202,435, will be paid over 12 months in equal monthly
installments with interest at 7% per annum commencing on the
effective date of the Plan sufficient to fully satisfy the
priority portion of the claim.

In addition, there is an administrative claim for postpetition
403(b) match contributions in the amount of $338,000, which will
be paid on the effective date of the Plan.  Any non-priority
portion of the claim in the approximate amount of $551,000 will be
treated as a class 7 general unsecured claim.

These claims will receive payments over 12 months in equal monthly
installments with interest at 7% per annum commencing on the
effective date of the Plan sufficient to fully satisfy the
priority portion of the claim:  

   1) Local 1199C's claims, which consist of unpaid prepetition
      health and welfare payments of approximately $400,354; and

   2) the Class 6 Claim of JNESO and the National Labor Relations
      Board pursuant to a collective bargaining agreement with
      the Debtor which arose prepetition.

Any non-priority portion of both claim classes will be treated as
a class 7 general unsecured claim.

Holders of unsecured claims under Class 7 will receive pro-rata
distributions from six annual payments of $250,000, which the
Debtors will make to the distribution trustee, commencing on
Dec. 31, 2008.

A full-text copy of the Fourth Amended Plan is available for a
fee at:

  http://www.researcharchives.com/bin/download?id=071127040746

A full-text copy of the Fourth Amended Disclosure Statement is
available for a fee at:

  http://www.researcharchives.com/bin/download?id=071127040628

Based in Hammonton, New Jersey, William B. Kessler Memorial
Hospital, Inc. -- http://www.kesslerhospital.org/-- is a non-
profit corporation that operates a hospital.  The Company filed
for chapter 11 protection on Sept. 13, 2006 (Bankr. D. N.J. Case
No. 06-18680).  Albert A. Ciardi, III, Esq., at Ciardi & Ciardi,
P.C., represents the Debtor in its restructuring efforts.  Carol
A. Slocum, Esq., at Klehr Harrison Harvey Branzburg & Ellers,
represents the Official Committee of Unsecured Creditors.  As of
its bankruptcy filing, the Debtor disclosed total assets of
$5,906,300 and total liabilities of 12,602,600.


KING PHARMA: Posts $41 Million Net Loss in Third Quarter of 2007
----------------------------------------------------------------
King Pharmaceuticals Inc. reported net loss of $41 million during
the third quarter of 2007, compared to net earnings of $90 million
in the third quarter of the prior year.  

Excluding merger and restructuring expenses; non-capitalized
expenses associated with acquisitions, such as in-process research
and development charges and one-time inventory valuation
adjustment charges; charges resulting from the early
extinguishment of debt; asset impairment charges; expenses of drug
recalls; and gains and losses resulting from the divestiture of
assets, net earnings equaled $128 million during the third quarter
ended Sept. 30, 2007, compared to net earnings of $106 million in
the third quarter of 2006.

"We are pleased with the company's continued strong quarterly
revenue and cash flow from operations," Brian A. Markison,
chairman, president and chief executive officer of King, stated.  
"In light of recent developments, we have moved quickly to
accelerate our planned strategic shift to emphasize our
neuroscience, hospital and acute care medicine platforms. As a
result, we recorded a number of special items in the third
quarter.  This included a restructuring of our organization,
particularly our sales force, to best support our strategic
priorities."

"Consistent with the strategic shift initiated in 2005, we have
sharpened our focus on specialty driven markets where we have a
strong presence and a demonstrated commitment to meeting the needs
of our customers," Mr. Markison added.  "By leveraging King's
solid financial position, we will continue to enhance our presence
in our targeted markets and opportunistically expand into other
attractive specialty markets.  Our recently announced alliance
with Acura Pharmaceuticals to develop and commercialize ACUROX(TM)
Tablets and other products utilizing Acura's Aversion(R)
Technology platform exemplifies this strategy, significantly
strengthening King's pain management franchise."

"We are confident that our focus on specialty driven markets will
maximize King's potential for long-term growth, enabling us to
deliver on the expectations of our shareholders,"
Mr. Markison concluded.

As of Sept. 30, 2007, the company's cash and cash equivalents and
investments in debt securities totaled approximately
$1.1 billion.  The company generated cash flow from operations of
$174 million during the third quarter of 2007.

At Sept. 30, 2007, the company's balance sheet showed total assets
of  3.4 billion, total liabilities $ 0.9 billion and total
shareholders' equity $2.5 billion.

                   About King Pharmaceuticals

Headquartered in Bristol Tennessee, King Pharmaceuticals Inc.
(NYSE:KG) develops, manufactures and markets branded prescription
pharmaceutical products.  The company's strategy includes life-
cycle management of existing products, new product development,
and product acquisitions and collaborations.

                          *     *     *

As reported in the Troubled Company Reporter on Nov. 22, 2007,
Moody's Investors Service assigned a Ba3 rating to the senior
secured credit facility of King Pharmaceuticals, Inc.  Moody's
also affirmed King's Ba3 Corporate Family Rating.  The outlook for
the ratings remains stable.


LAFAYETTE NEIGHBORHOOD: Court Sets Pre-Trial Conference on Dec. 11
------------------------------------------------------------------
The Honorable Robert E. Grant of the U.S. Bankruptcy Court for the
Northern District of Indiana will hold a pre-trial conference in
the bankruptcy case of Lafayette Neighborhood Housing Services at
11:40 a.m. on Dec. 11, 2007.

The scheduled pre-trial conference is regarding a motion for
relief from stay and abandonment filed on Nov. 8, 2007, by First
Financial Bank N.A.

At that hearing, the parties will discuss:

   (a) the simplification of the issues;

   (b) the necessity or desirability of amendments to the
       pleadings;

   (c) the possibility of obtaining admissions of fact, documents
       and other matters which will avoid unnecessary proof;

   (d) the possibility of submitting this matter to voluntary
       mediation or other form of alternative dispute resolution;

   (e) whether or not this is a core or non-core proceeding and,
       if non-core, whether or not the parties consent to the
       bankruptcy judge hearing and determining the matter; and

   (f) any other matters which may aid in the disposition of the
       controversy.

As a result of a pre-trial conference, the Court may limit the
time to complete discovery or to file pre-trial motions; set a
date for any final pre-trial or other conference; establish a
schedule for the filing of any proposed pre-trial order,
stipulations or lists of witnesses and exhibits; and set a trial
date.

The schedule established as a result of the pre-trial conference
will not be modified except by leave of Court upon a showing of
good cause.

                   About Lafayette Neighborhood

Headquartered Lafayette, Indiana, Lafayette Neighborhood Housing
Services -- http://www.nhslaf.org/-- is a community based, non-
profit partnership with many programs designed to benefit the
residents of Lafayette.  LNHS filed for chapter 11 protection on
Oct. 12, 2007 (Bankr. N.D. Ind. Case No. 07-40572).  David A.
Rosenthal, Esq., in Lafayette, Indiana, represents the Debtor.  
When the Debtor filed for protection from its creditors, it listed
total assets of $7,318,668 and total debts of $16,875,249.


LAFAYETTE NEIGHBORHOOD: Excuse Motion Hearing Set for December 12
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Indiana
will hear Lafayette Bank and Trust Company and the State Court
appointed Receiver, Lafayette-West Lafayette Development
Corporation's joint motion to excuse Receiver from turning over
property pursuant to Section 543(d)(1) of the Bankruptcy Code at
1:20 p.m. on Dec. 12, 2007, at Charles Halleck Federal Building.

             Receivership at Tippecanoe Circuit Court

On Aug. 24, 2007, the Bank filed a complaint for foreclosure of
mortgages and on note regarding the 43 properties with the
Tippecanoe County Circuit Court.  At that time, the Bank was owed
principle sum of $3,798,958, plus accrued interest as of Oct. 26,
2006 in the amount of $63,440.  Interest accrued on the note from
Oct. 26, 2006 until the Debtor's bankruptcy filing on Oct. 12,
2007 was at the rate of $754 per day.

On Sept. 17, 2007, the Tippecanoe Circuit Court appointed
Lafayette Development as Receiver of the 43 properties and Jeffrey
J. Newell, Esq. was appointed attorney for the receiver.

Since its appointment, the Receiver has received offers to
purchase the 43 properties.

The Bank and the Receiver relate that the interests of the
Debtor's creditors would be better served through the continuation
of the receivership action for these reasons:

   a. there is a high probability that Debtor has no equity in
      these Properties and the Properties are not necessary for
      its reorganization;

   b. the Debtor has no intention of using the Properties and has
      abandoned and canceled insurance on the Properties;

   c. the sale of the Properties can be best handled in a forum
      other than the Bankruptcy Court, in this case the Circuit
      Court of Tippecanoe County;

   d. the Receiver has the ability to best protect the interests
      of the Bank and all creditors;

   e. since the Debtor is insolvent and a not-for-profit
      corporation, the interests of its equity security holders
      are irrelevant to a determination as to whether the
      Receivership should continue.

As reported in the Troubled Company Reporter on Nov. 27, 2007,
the Bank and the Receiver, jointly sought Court authority to
abandon 43 properties from the Debtor's bankruptcy cases.

According to the Bank and the Receiver, this abandonment will
allow the receivership to continue in the Tippecanoe County
Circuit Court so that the properties can be sold through
receivership and the proceeds be applied to the bank's
mortgage lien and the surplus paid over to the estate.

The Bank and the Receiver told the Court that the 43 properties
have inconsequential value and burdensome to the estate.  The
Bank's mortgage lien as of the bankruptcy filing is more than
$3,900,000 and the value of the properties is less than
$3,000,000.

James R. Schrier, Esq., represents Lafayette Bank and Trust
Company.

                   About Lafayette Neighborhood

Headquartered Lafayette, Indiana, Lafayette Neighborhood Housing
Services -- http://www.nhslaf.org/-- is a community based, non-
profit partnership with many programs designed to benefit the
residents of Lafayette.  LNHS filed for chapter 11 protection on
Oct. 12, 2007 (Bankr. N.D. Ind. Case No. 07-40572).  David A.
Rosenthal, Esq., in Lafayette, Indiana, represents the Debtor.  
When the Debtor filed for protection from its creditors, it listed
total assets of $7,318,668 and total debts of $16,875,249.


LAKE MARTIN: Section 341(a) Meeting Scheduled for December 6
------------------------------------------------------------
The Administrator for the U.S. Bankruptcy Court for the Middle
District of Alabama will convene a meeting of creditors of
Lake Martin Partners LLC at 1:00 p.m. on Dec. 6, 2007.

This is the first meeting of creditors pursuant to Section 341
of the Bankruptcy Code.

All creditors are invited, but not required to attend.  The
Official Meeting of Creditors offers the one opportunity in a
bankruptcy proceeding for creditors to question under oath a
responsible officer of the Debtor.

Dothan, Alabama-based Lake Martin Partners LLC owns an 18 acre
condominium development project on Lake Martin in Tallapoosa
County, Alabama.  The Debtor filed for chapter 11 bankruptcy on
Oct. 19, 2007 (Bankr. M.D. Al. Case No. 07-11470).  Cameron A.
Metcalf, Esq., at Espy & Metcalf & Espy PC represents the
Debtor in its restructuring efforts.  When the Debtor filed for
bankruptcy it listed assets and debts between $1 million and
$100 million.


LAKE MARTIN: Administrator Forms Six-Member Creditors Panel
-----------------------------------------------------------
Upon the recommendation of Teresa A. Jacobs, Bankruptcy
Administrator for the Middle District of Alabama, the U.S.
Bankruptcy Court for the Middle District of Alabama approved the
appointment of six creditors who will serve on an official
committee of unsecured creditors in Lake Martin Partners LLP's
bankruptcy case.

The members of the Committee are:

   1. EAS Contractors, Inc.
      c/o Shuman Sohrn
      Seyfarth Shaw LLP
      1545 Peachtree Street, Suite 700
      Atlanta, GA 30309
      Tel: (404) 885-1500

   2. Scott Hunter
      c/o Mark Treadwell
      129 West Columbus Street
      Dadeville, AL 36853
      Tel: (706) 716-5784

   3. James Coker
      648 Westbrook Road
      Dothan, AL 36303
      Tel: (334) 794-0521

   4. Julie George- Howell
      1512 W. Main Street
      Dothan, Alabama 36301
      Tel: (334) 790-4095

   5. Lewis A. Hunt
      36 Foxchase Drive
      Dothan, Alabama 36305
      Tel: (334)333-3436

   6. Mark and Jamie Shertzer
      25 Harrington Lane
      Dothan, Alabama 36305
      Tel: (334) 793-3637

Any committee member appointed who is unwilling to serve upon the
committee is requested to notify the Court in writing not more
than 20 days after the entry of this order or Nov. 14, 2007.

Dothan, Alabama-based Lake Martin Partners LLC owns an 18 acre
condominium development project on Lake Martin in Tallapoosa
County, Alabama.  The Debtor filed for chapter 11 bankruptcy on
Oct. 19, 2007 (Bankr. M.D. Al. Case No. 07-11470).  Cameron A.
Metcalf, Esq., at Espy & Metcalf & Espy PC represents the
Debtor in its restructuring efforts.  When the Debtor filed for
bankruptcy it listed assets and debts between $1 million and
$100 million.


LAKE MARTIN: Files Schedules of Assets and Liabilities
------------------------------------------------------
Lake Martin Partners LLP submitted to the U.S. Bankruptcy Court
for the Middle District of Alabama its schedules of assets and
liabilities, disclosing:

   Name of Schedule           Assets       Liabilities
   ----------------         -----------    -----------
   A. Real Property         $14,000,000
   B. Personal Property         140,003
   C. Property Claimed                -
      as Exempt
   D. Creditors Holding                    $25,186,870
      Secured Claims
   E. Creditors Holding                      1,960,417
      Unsecured Priority
      Claims
   F. Creditors Holding                        689,434
      Unsecured
      Nonpriority Claims
                           -----------    ------------
      TOTAL                $14,140,003     $27,836,721

Dothan, Alabama-based Lake Martin Partners LLC owns an 18 acre
condominium development project on Lake Martin in Tallapoosa
County, Alabama.  The Debtor filed for chapter 11 bankruptcy on
Oct. 19, 2007 (Bankr. M.D. Al. Case No. 07-11470).  Cameron A.
Metcalf, Esq., at Espy & Metcalf & Espy PC represents the
Debtor in its restructuring efforts.  When the Debtor filed for
bankruptcy it listed assets and debts between $1 million and
$100 million.


LEVITT AND SONS: Banking Parties Object to Cash Collateral Use
--------------------------------------------------------------
Bank of America, N.A., KeyBank National Association and Wachovia
Bank, National Association, separately filed with the U.S.
Bankruptcy Court for the Southern District of Florida their
objections to the final order given by the Honorable Raymond B.
Ray governing the Levitt and Sons LLC and its debtor-affiliates'
use of cash collateral and requested adequate protection.

On Nov. 14, 2007, the Court entered an interim order authorizing
the Debtors for limited use of cash on hand until the final
hearing on the Debtors' request.

Pursuant to the interim order, the Debtors will not use the
proceeds of the postpetition sales of any property that is
collateral of the Debtors' prepetition lenders, absent consent of
the lenders.

                           Objections

1) BOA

Between 2003 and 2006, BOA and eight Debtors -- Levitt and Sons,
LLC, Levitt and Sons of Lake County, LLC, Levitt and Sons of
Seminole County, LLC, Levitt and Sons Osceola County, LLC, Levitt
and Sons at Hawks Haven, LLC, Levitt Construction-East, LLC,
Levitt and Sons at Hunter's Creek, LLC, and Levitt and Sons of
Flagler County, LLC -- entered into various agreements, wherein
BOA agreed to loan funds and make advances to the BOA Debtors in
exchange for promises of repayment and various guarantees.

As security for their obligations under the Loan Agreements, the
BOA Debtors granted the bank first-priority security interests in
numerous parcels of real property and the proceeds from the sale
of the real property.  The security interests were timely and
properly perfected through the filing and, where necessary,
recording of financing statements mortgages and all other
appropriate perfection documents.

Craig Rasile, Esq., at Hunton & Williams LLP, in Miami, Florida,
relates that, as of the date of bankruptcy, the BOA Debtors
remained in default under the Loan Agreements, owing BOA in excess
of $103,000,000, plus interest, fees, costs and other charges,
which continue to accrue on a monthly basis.  BOA has reserved its
right to accelerate the loan in accordance with the Loan
Agreements in a November 1, 2007 notice of default to the BOA
Debtors.

In the Debtors' Cash Collateral Motion, they offered BOA
replacement liens on "all post-petition property that is of the
same nature and type" as BOA's prepetition collateral as adequate
protection for the use of BOA's cash collateral.

In its Interim Order, the Court did not permit the Debtors to use
the proceeds of postpetition sales of "any property that is the
collateral" of BOA without the bank's specific consent.  BOA was
also granted adequate protection in the form a replacement lien
on all of the Debtors' postpetition property of the same nature
and type as BOA's prepetition collateral.

To the extent that the Debtors' Cash On Hand includes proceeds of
the bank collateral, BOA objects to the Debtors' use of its cash
collateral for use in connection with the maintenance or
improvement of property of the Debtors, which is secured by first
priority prepetition liens or postpetition replacement liens of
other lenders.

BOA insists that the Debtors should produce a complete accounting
of the Cash On Hand, so the bank can determine which Debtors
intend to use the BOA cash collateral.  BOA further seeks from
the Debtors adequate protection going forward of its security
interests in its cash collateral to the extent the Debtors seek
to use that collateral.

2) KeyBank

KeyBank National is a secured creditor of Levitt and Sons, LLC,
Levitt and Sons of Hernando County, LLC, Levitt and Sons of Lee
County, LLC, and Levitt and Sons at Tradition, LLC.  KeyBank
entered into a revolving land acquisition, development and
residential construction base facility agreement, as amended,
with LAS on Au. 9, 2005.

The Facility Agreement is evidenced by a revolving loan
promissory note payable to the order of KeyBank in the maximum
principal amount of $75,000,000.  The Note was renewed and
increased to the maximum principal amount of $125,000,000 in
April 2006.

As of the Petition Date, the Debtors owe KeyBank roughly
$96,000,000.  To secure these obligations, KeyBank holds property
perfected, first priority liens certain of the Debtors' assets,
which consist primarily of parcels of residential real property
in various stages of development and construction.

During the first-day hearings, KeyBank raised its objections to
the Debtors' use of its cash collateral because the Debtors did
not come forward with the information necessary to allow any
lender to determine how much cash collateral was being held by
the Debtors and which lender's property was to be improved by the
interim use of cash collateral.

Based on KeyBank's objection, the Court instructed the Debtors to
provide the information to lenders by November 20.  Phillip M.
Hudson, III, Esq., at Arnstein & Lehr LLP, in Miami, Florida,
says that although the information was provided in part, the
information provided is still insufficient to allow the lenders a
complete picture of the cash collateral on hand and the amounts
the Debtors intend to spend and on what property.

Thus, KeyBank continues to object to the use of its cash
collateral on a final basis, as requested by the Debtors, for any
reason at any time other than for the limited purposes of
maintaining, securing and protecting the KeyBank Collateral until
further Court Order.

KeyBank also asks the Debtors to provide it a complete accounting
of the specific source of the cash on hand in all accounts as of
the bankruptcy filing date.

3) Wachovia

Wachovia informs the Court that it has made loans to certain of
the Debtors, whose indebtedness currently exceeds $100,000,000.
According to the bank, the Indebtedness is secured by, inter
alia, first priority liens on real and personal property of the
Debtors and on various projects in Florida, Georgia and South
Carolina.

To the extent the Debtors seek to use proceeds of postpetition
sales that constitute its collateral, Wachovia preserves its
right to formally object to the Cash Collateral Motion.

                      About Levitt and Sons

Based in Fort Lauderdale, Florida, Levitt and Sons LLC --
http://www.levittandsons.com/-- is the homebuilding subsidiary of    
Levitt Corporation (NYSE:LEV).  Levitt Corp. --
http://www.levittcorporation.com/-- together with its      
subsidiaries, operates as a homebuilding and real estate
development company in the southeastern United States.  The
company operates in two divisions, homebuilding and land.  The
homebuilding division primarily develops single and multi-family
homes for adults and families in Florida, Georgia, Tennessee, and
South Carolina.  The land division engages in the development of
master-planned communities in Florida and South Carolina.

Levitt and Sons LLC and 38 of its homebuilding affiliates filed
for Chapter 11 protection on Nov. 9, 2007 (Bankr. S.D. Fla. Lead
Case No. 07-19845).  Paul Singerman, Esq. and Jordi Guso, Esq., at
Berger Singerman, P.A., represent the Debtors in their
restructuring efforts.  The Debtors chose AP Services, LLC as
their crisis managers, and Kurtzman Carson Consultants, LLC as
their claims and noticing agent.

Levitt Corp., the Debtors' parent company, did not file for
Chapter 11 protection.

The Debtors' latest consolidated financial condition as of
Sept. 30, 2007 reflect total assets of $900,392,000, and total
liabilities of $780,969,000.  (Levitt and Sons Bankruptcy News,
Issue No. 5; Bankruptcy Creditors' Service Inc.;
http://bankrupt.com/newsstand/or 215/945-7000)


LEVITT AND SONS: Wants to Deliver Release of Resale Restriction
---------------------------------------------------------------
Levitt and Sons LLC and its debtor-affiliates seek authority from
the U.S. Bankruptcy Court for the Southern District of Florida to
continue providing releases to homeowners from the restriction
from selling homes within 18 months following their purchase in
the ordinary course of business.

Before the Debtors' filing for bankruptcy, the predecessor to
Levitt and Sons, LLC, also then known as "Levitt and Sons," was
the nation's first builder of planned suburban communities, built
approximately 200,000 homes.  Today, LAS develops single and
multi-family home communities for active adults and families in
Florida, Georgia, Tennessee and South Carolina.

As part of contracts for the construction and purchase of homes,
some or all of the Debtors required that a Deed Restriction be
recorded as an exhibit to the Deed transferring title to the home
buyer which, inter alia, prohibits or restricts the homeowners
resale of the home for a period of 18 months after his purchase
of the home.

Jordi Guso, Esq., at Berger Singerman, P.A., in Miami, Florida,
relates that before the bankruptcy filing, the Debtors released or
terminated the Restriction, in the exercise of their business
judgment.

Mr. Guso asserts that the Restriction is intended to prevent the
"flipping" of houses by investors.  The Deed Restriction,
however, provided that under certain "Hardship Exceptions," the
seller may release the homebuyer from the Restriction, he says.

                      About Levitt and Sons

Based in Fort Lauderdale, Florida, Levitt and Sons LLC --
http://www.levittandsons.com/-- is the homebuilding subsidiary of    
Levitt Corporation (NYSE:LEV).  Levitt Corp. --
http://www.levittcorporation.com/-- together with its      
subsidiaries, operates as a homebuilding and real estate
development company in the southeastern United States.  The
company operates in two divisions, homebuilding and land.  The
homebuilding division primarily develops single and multi-family
homes for adults and families in Florida, Georgia, Tennessee, and
South Carolina.  The land division engages in the development of
master-planned communities in Florida and South Carolina.

Levitt and Sons LLC and 38 of its homebuilding affiliates filed
for Chapter 11 protection on Nov. 9, 2007 (Bankr. S.D. Fla. Lead
Case No. 07-19845).  Paul Singerman, Esq. and Jordi Guso, Esq., at
Berger Singerman, P.A., represent the Debtors in their
restructuring efforts.  The Debtors chose AP Services, LLC as
their crisis managers, and Kurtzman Carson Consultants, LLC as
their claims and noticing agent.

Levitt Corp., the Debtors' parent company, did not file for
Chapter 11 protection.

The Debtors' latest consolidated financial condition as of
Sept. 30, 2007 reflect total assets of $900,392,000, and total
liabilities of $780,969,000.  (Levitt and Sons Bankruptcy News,
Issue No. 5; Bankruptcy Creditors' Service Inc.;
http://bankrupt.com/newsstand/or 215/945-7000)


LEXINGTON RESOURCES: Sept. 30 Balance Sheet Upside-Down by $3.4 M.
------------------------------------------------------------------
Lexington Resources Inc.'s consolidated balance sheet at Sept. 30,
2007, showed $4,288,217 in total assets and $7,738,362 in total
liabilities, resulting in a $3,450,145 total shareholders'
deficit.

At Sept. 30, 2007, the company's consolidated balance sheet also
showed strained liquidity with $372,612 in total current assets
available to pay $7,738,362 in total current liabilities.

The company reported a net loss of $8,660,976 on revenues of
$115,589 for the third quarter ended Sept. 30, 2007, compared with
a net loss of $27,854 on revenues of $991,672 in the same period a
year ago.

Drilling and service revenue of $955 declined from $838,309 during
the same period in 2006 resulting from the sale of the company's  
drilling rig.  Oil and gas revenue of $114,634 decreased from
$153,363 during the same period in 2006 resulting from a decrease
in volume of gas sold.

During the three-month period ended Sept. 30, 2007, the company  
incurred operating expenses in the aggregate amount of $8,427,090
compared to $1,333,909 incurred during the three-month period
ended Sept. 30, 2006.  The increase in operating expenses incurred
during the three-month period ended Sept. 30, 2007, compared to
the three-month period Sept. 30, 2006, resulted primarily from the
recording of $8,000,000 in impairment of oil and gas properties.

Full-text copies of the company's consolidated financial
statements for the quarter ended Sept. 30, 2007, are available for
free at http://researcharchives.com/t/s?25cc

                       Going Concern Doubt

As reported in the Troubled Company Reporter on May 25, 2007,
Whitley Penn L.L.P., in Dallas, Texas, expressed substantial doubt
about Lexington Resources Inc.'s ability to continue as a going
concern after auditing the company's financial statements for the
year ended Dec. 31, 2006.  

The company has a working capital deficiency of $7,365,750 at
Sept. 30, 2007, has incurred losses since inception of $40,152,709
and further losses are anticipated in the development of its oil
and gas properties.

                   About Lexington Resources

Headquartered in Las Vegas, Lexington Resources Inc. (OTC BB:
LXRS) -- http://www.lexingtonresources.com/-- is engaged in oil  
and gas operations through its wholly owned subsidiary, Lexington
Oil and Gas Ltd. Co., an Oklahoma limited liability company via a
third party contract operator.

As of Sept. 30, 2007, the company has an aggregate of
approximately 2,944 gross developed acres, 2,200 net undeveloped
acres and 3,257 gross undeveloped acres, 1,771 net developed acres
pursuant to leases or concessions in Texas and Oklahoma.


LUMINENT MORTGAGE: Has 60 Days to Cure Default on $90 Mil. Notes
----------------------------------------------------------------
Luminent Mortgage Capital Inc. received on Nov. 21, 2007, a notice
of default from an indenture trustee of the company's $90 million
principal amount 8.125% convertible senior notes due 2027.

The default under the indenture occurred due to the company's
previously reported delay in filing of its Form 10-Q report for
the period ended Sept. 30, 2007, with the Securities and Exchange
Commission on or before Nov. 9, 2007.

The trustee informed the company that the reporting default will
ripen into an event of default under the indenture unless the
company cure the reporting default by filing with the SEC its Form
10-Q report for the period ended Sept. 30, 2007 within 60 days
after the date of the trustee's notice, or by Jan. 20, 2008.

                    About Luminent Mortgage

Headquartered in San Francisco, California, Luminent Mortgage
Capital Inc. -- http://www.luminentcapital.com/-- (NYSE: LUM) is   
a real estate investment trust, or REIT.  Luminent is an asset
management company that invests in prime whole loans, U.S. agency
and other highly-rated, single-family, adjustable-rate, hybrid
adjustable-rate and fixed-rate mortgage-backed securities, which
it acquires in the secondary market.


LUNA CRECIENTE: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Luna Creciente, L.L.C.
        P.O. Box 611449
        Rosemary Beach, FL 32461

Bankruptcy Case No.: 07-50393

Chapter 11 Petition Date: November 26, 2007

Court: Northern District of Florida (Panama City)

Debtor's Counsel: Thomas B. Woodward, Esq.
                  P.O. Box 10058
                  Tallahassee, FL 32302
                  Tel: (850) 222-4818
                  Fax: (850) 561-3456

Estimated Assets:         Less than $10,000

Estimated Debts: $1 Million to $100 Million

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


MAGNITUDE INFO: Sept. 30 Balance Sheet Upside Down by $2,598,066
----------------------------------------------------------------
Magnitude Information Systems Inc.'s consolidated balance sheet at
Sept. 30, 2007, showed $2,323,020 in total assets and $4,921,086
in total liabilities, resulting in a $2,598,066 total
stockholders' deficit.

The company's consolidated balance sheet at Sept. 30, 2007, also
showed strained liquidity with $231,558 in total current assets
available to pay $4,921,086 in total current liabilities.

The company reported a net loss of $462,286 on total revenues of
$7,639 for the third quarter ended Sept. 30, 2007, compared with a
net loss of $1,259,833 on total revenues of $9,468 in the same
period last year.

Magnitude Information Systems Inc. does not have significant
operations.

The company realized a loss from operations of $712,740 for the
three months period ended Sept. 30, 2007, compared to a loss from
operations of $1,267,891 in the same period in 2006.

Full-text copies of the company's consolidated financial
statements for the quarter ended Sept. 30, 2007, are available for
free at http://researcharchives.com/t/s?25c3

                       Going Concern Doubt

Rosenberg Rich Baker Berman & Company, in Bridgewater, New Jersey,
expressed substantial doubt about Magnitude Information Systems
Inc.'s ability to continue as a going concern after auditing the
company's consolidated financial statements for the year ended
Dec. 31, 2006.  The auditing firm pointed to the company's
significant operating losses and significant working capital
deficiency.

                   About Magnitude Information

Headquartered in  Branchburg, New Jersey, Magnitude Information
Systems Inc. (OTC BB: MAGY.OB) -- http://www.magnitude.com/--
was prior to its change in its strategic business plan in 2007,
engaged in marketing of the company's integrated suite of
proprietary ergonomic software modules.  Following the company's
acquisition of Kiwibox Media Inc. on Aug. 16, 2007, the company
derives its revenues from advertising on the KiwiBox website.


MERITAGE MORTGAGE: Fitch Puts 'B' Ratings on Two Cert. Classes
--------------------------------------------------------------
Fitch Ratings has taken rating actions on Meritage Mortgage Corp.
asset-backed certificates.  Affirmations total $172.1 million and
downgrades total $14.3 million.  In addition, approximately
$17.9 million is placed on Rating Watch Negative.  Break Loss
percentages and Loss Coverage Ratios for each class is included
with the rating actions as:

Meritage 2005-2
  -- $73 million class A affirmed at 'AAA' (BL: 76.91, LCR:
     4.47);
  -- $26 million class M-1 affirmed at 'AA+' (BL: 64.92, LCR:
     3.77);
  -- $23.1 million class M-2 affirmed at 'AA' (BL: 51.34, LCR:
     2.98);
  -- $14.3 million class M-3 affirmed at 'AA' (BL: 46.9, LCR:
     2.72);
  -- $13.7 million class M-4 affirmed at 'A+' (BL: 41.54, LCR:
     2.41);
  -- $11.1 million class M-5 affirmed at 'A' (BL: 36.61, LCR:
     2.13);
  -- $11.1 million class M-6 affirmed at 'A-' (BL: 31.54, LCR:
     1.83);
  -- $10.7 million class M-7 rated 'BBB+', and placed on Rating
     Watch Negative (BL: 26.48, LCR: 1.54);
  -- $7.2 million class M-8 rated 'BBB+', and placed on Rating
     Watch Negative (BL: 23.09, LCR: 1.34);
  -- $8.8 million class M-9 downgraded to 'B' from 'BBB' (BL:
     15.04, LCR: 0.87);
  -- $5.5 million class M-10 downgraded to 'B' from 'BBB-' (BL:
     13.36, LCR: 0.78).

Deal Summary
  -- Originators: (100% Meritage);
  -- 60+ day Delinquency: 30.32%;
  -- Realized Losses to date (% of Original Balance): 2.84%;
  -- Expected Remaining Losses (% of Current Balance): 17.22%;
  -- Cumulative Expected Losses (% of Original Balance): 8.75%.

The rating actions are based on changes that Fitch has made to its
subprime loss forecasting assumptions.  The updated assumptions
better capture the deteriorating performance of pools from 2006
and late 2005 with regard to continued poor loan performance and
home price weakness.


METHANEX CORP: Finances $40 Million of GeoPark's Gas Exploration
----------------------------------------------------------------
Methanex Corporation has signed a natural gas prepayment agreement
with GeoPark Holdings Limited.  Methanex will provide $40 million
in financing to support and accelerate GeoPark's natural gas
exploration and development activities in the Fell Block in
Southern Chile.

Under the arrangement, GeoPark will also provide Methanex with
natural gas supply sourced from the Fell Block under a ten year
supply agreement.  GeoPark has been increasing its gas supply to
Methanex since 2006 and its goal is to provide up to 10% of
Methanex's total natural gas needs in Chile by the end of 2008.

"This prepayment agreement represents an important step to restore
secure, long term gas supply to our plants in Chile," Paul
Schiodtz, Methanex's Latin America senior vice president,  
commented.  "We are delighted to be working closely with GeoPark
who have been very successful both discovering new gas and
investing in infrastructure to increase natural gas deliveries to
our plants."

"We are also very pleased with the results in the bidding process
for oil and gas exploration in the south of Chile,"
Mr. Schiodtz continued.  "The Chilean Government disclosed the
participation of five other international oil and gas companies in
gas exploration and development in areas which are all very close
to our plants."

"This strategic alignment of Methanex and GeoPark strengthens both
companies - by increasing the supply of natural gas in Chile for
Methanex and by underpinning the long term development of
GeoPark's natural gas reserves," James Park, CEO of GeoPark added.  
"The agreement secures an economic long term market for all of
GeoPark's Chilean gas production while also providing a source of
financing to accelerate capital investment."

                 About GeoPark Holdings Limited

GeoPark Holdings Limited (LON:GPK) -- http://www.geo-park.com/--  
is a Latin American oil and gas producer and explorer with
properties in Argentina and Chile.

                   About Methanex Corporation

Vancouver-based Methanex Corp. (Toronto: MX) (NASDAQGM: MEOH) --
http://www.methanex.com/-- is a publicly-traded company engaged  
in the production, distribution, and marketing of methanol.  The
company's stock also trate on foreign securities
market of the Santiago Stock Exchange in Chile under the trading
symbol "Methanex".

                          *     *     *

Moody's Investor Services' credit ratings for the company's
unsecured notes at Sept. 30, 2007, is Ba1.  The outlook is stable.


MORTGAGE ASSET: Fitch Junks Rating on Class M-6 Certificates
------------------------------------------------------------
Fitch Ratings has taken these rating actions on the Mortgage Asset
Securitization Transactions (MASTR) Asset Back Securities Trust
(MABS) mortgage pass-through certificates listed below:

Series 2002-OPT1
  -- Class M-2 affirmed at 'AAA' ;
  -- Class M-3 affirmed at 'AA';
  -- Class M-4 affirmed at 'A+';
  -- Class M-5 affirmed at 'BBB';
  -- Class M-6 downgraded to 'CCC/DR3' from 'BB-'.

Series 2004-WMC1
  -- Class M-1 affirmed at 'AA';
  -- Class M-2 affirmed at 'A';
  -- Class M-3 affirmed at 'A-';
  -- Class M-4 downgraded to 'BB' from 'BBB+';
  -- Class M-5 downgraded to 'B' from 'BBB'.

The affirmations, affecting approximately $94.2 million of the
outstanding certificates, are taken as a result of a stable
relationship between credit enhancement and expected loss.

The downgrades, affecting approximately $8.7 million, are the
result of deterioration in the relationship between CE and
expected losses.  Series 2002-OPT1 has serious delinquencies
(loans delinquent more than 60 days, inclusive of loans in
foreclosure, bankruptcy, and real estate owned) of 25.10% and
current cumulative loss of 1.29%, while the affected M-6 bond has
2.78% of CE.  Series 2004-WMC1 has serious delinquencies of 14.89%
and current cumulative loss of 1.16%, while the affected M-4 and
M-5 bonds have 8% and 5.37% of CE, respectively.  In each of the
transactions, losses have exceeded excess spread for five of the
last six months.  As a result, the overcollateralization is below
its target level.

The collateral of the above transactions primarily consists of
conforming and non-conforming, fixed-rate and adjustable-rate
subprime mortgage loans secured by first and second liens on
residential properties.  The mortgages underlying series 2002-OPT1
were originated or acquired by Option One Mortgage Corp. and are
serviced by Option One Mortgage Corp. (rated 'RPS2+' and on Rating
Watch Negative by Fitch).  The mortgages underlying series 2004-
WMC1 were originated or acquired by WMC, a mortgage banking
company incorporated in the state of California and are serviced
by HomEq Servicing Corp. (rated 'RPS1' by Fitch).

The pool factors for series 2002-OPT1 and 2004-WMC1 are
approximately 6% and 9%, respectively, and the transactions are
seasoned 59 months and 43 months, respectively.


MSB OF DESTIN: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: MSB of Destin, Inc.
        dba AJ's Restaurant & Marina
        aka Southside Investments, Inc.
        101A Mountain Drive
        Destin, FL 32541

Bankruptcy Case No.: 07-31149

Type of Business: The Debtor operates a restaurant and bar.

                  The Debtor's stockholder, Hubert A. Laird, filed
                  for Chapter 11 protection on Nov. 19, 2007
                  (Bankr. N.D. Fla. Case No. 07-31128).

Chapter 11 Petition Date: November 26, 2007

Court: Northern District of Florida (Pensacola)

Debtor's Counsel: John E. Venn, Esq.
                  John E. Venn, Jr., P.A.
                  220 West Garden Street
                  Suite 603
                  Pensacola, FL 32502
                  Tel: (850) 438-0005
                  Fax: (850) 438-1881

Debtor's financial condition as of Sept. 30, 2007:

   Total Assets: $39,041,476

   Total Debts:   $9,114,105

Debtor's list of its 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Kenneth H. Levy                    Personal Guaranty     $413,327
804 Kellaire Drive                 Debt of Hubert A.
Destin, FL 32541                   Laird

F&E Sportswear                     Trade Debt             $52,019
1230 Newell Parkway
Montgomery, AL 36110

Danny Smith                        Loan                   $44,902
202 Twin Lake Lane
Destin, FL 32541

Whitney National Bank              Cruiser Boat          $378,955
                                                         Secured:
                                                         $338,174
                                                       Unsecured:
                                                          $40,781

Daffin Wholesale Distribution      Trade Debt             $31,236

Sysco Food Services Gulf Coast     Trade Debt             $19,918

Gulf Power                         Electric Service       $19,335

Northwestern Mutual                Insurance              $15,253

Merchants Paper Company            Trade Debt             $13,936

Southern Wine & Spirits            Trade Debt             $11,948

First National Bank & Trust        Loan                    $8,437

Blue Cross Blue Shield             Insurance               $7,924

Goldring Gulf Distributing         Trade Debt              $7,057

Cox Media                          Cable Service           $7,503

Florida Department of Revenue      Unemployment Taxes      $7,502

Lowes Business Account             Credit Account          $6,534

Carr Riggs Ingram                  Accounting Fees         $6,039

Capital One                        Credit Card             $5,907

Waste Management                   Trade Debt              $5,761

Progressive Insurance              Insurance               $5,627


NANOBAC PHARMA: Sept. 30 Balance Sheet Upside-Down by $2,158,289
----------------------------------------------------------------
Nanobac Pharmaceuticals Inc.'s consolidated balance sheet at
Sept. 30, 2007, showed $7,342,051 in total assets and $9,500,340
in total liabilities, resulting in a $2,158,289 total
stockholders' deficit.

The company's consolidated balance sheet at Sept. 30, 2007, also
showed strained liquidity with $40,043 in total current assets
available to pay $6,663,802 in total current liabilities.

The company reported a net loss of $835,763 on revenue of $5,809
for the third quarter ended Sept. 30, 2007, compared with a net
loss of $787,183 on revenue of $23,894 in the same period last
year.

The company continues to experience significant losses as it  
conducts research and development related to nanobacteria.  The
company is presently  dependent on affiliates of its chief
executive officer and other investors to provide sufficient cash
sources to fund operations.

Full-text copies of the company's consolidated financial
statements for the quarter ended Sept. 30, 2007, are available for
free at http://researcharchives.com/t/s?25c4

                       Going Concern Doubt

Aidman Piser & Company P.A., in Tampa, Florida, expressed
substantial doubt about Nanobac Pharmaceuticals Inc.'s ability to
continue as a going concern after auditing the company's
consolidated financial statements for the year ended Dec. 31,
2006.  The auditing firm reported that the company has suffered
recurring losses from operations, has working capital and net
capital deficiencies and is dependent upon continued financing
from stockholders and/or outside investors.

                  About Nanobac Pharmaceuticals

Headquartered in Tampa, Florida, Nanobac Pharmaceuticals Inc. (OTC
BB: NNBP.OB) -- http://www.nanobac.com/-- is dedicated to the
discovery and development of products and services to improve
human health through the detection and treatment of calcifying
nanoparticles, formerly known as nanobacteria.  The company's
pioneering research is establishing the pathogenic role of CNPs in
soft tissue calcification, particularly in coronary artery,  
prostate and vascular disease.


NEW CENTURY: Fitch Holds 'BB' Rating on $5.4MM Class B-2 Certs.
---------------------------------------------------------------
Fitch Ratings has taken these rating actions on New Century
mortgage pass-through certificates.  Affirmations total
$2.3 billion.  Break Loss percentages and Loss Coverage Ratios for
each class are included with the rating actions as:

New Century 2005-A

  -- $508.3 million class A affirmed at 'AAA' (BL: 22.25, LCR:
     6.08);
  -- $24.2 million class M-1 affirmed at 'AA+' (BL: 16.50, LCR:
     4.51);
  -- $23.7 million class M-2 affirmed at 'AA' (BL: 12.62, LCR:
     3.45);
  -- $6.7 million class M-3 affirmed at 'AA-' (BL: 11.51, LCR:
     3.15);
  -- $7.4 million class M-4 affirmed at 'A+' (BL: 10.27, LCR:
     2.81);
  -- $5.9 million class M-5 affirmed at 'A' (BL: 9.30, LCR:
     2.54);
  -- $4.8 million class M-6 affirmed at 'A-' (BL: 8.52, LCR:
     2.33);
  -- $4.9 million class M-7 affirmed at 'BBB+' (BL: 7.76, LCR:
     2.12);
  -- $3.7 million class M-8 affirmed at 'BBB' (BL: 7.17, LCR:
     1.96);
  -- $4.9 million class M-9 affirmed at 'BBB-' (BL: 6.38, LCR:
     1.74);
  -- $5.4 million class B-1 affirmed at 'BB+' (BL: 5.50, LCR:
     1.50);
  -- $5.4 million class B-2 affirmed at 'BB' (BL: 4.72, LCR:
     1.29).

Deal Summary
  -- Originators: 100% New Century Mortgage Corp.;
  -- 60+ day Delinquency: 5.89%;
  -- Realized Losses to Date (% of Original Balance): 0.34%;
  -- Expected Remaining Losses (% of Current Balance): 3.66%;
  -- Cumulative Expected Losses (% of Original Balance): 2.61%.

New Century 2005-1
  -- $115.1 million class A affirmed at 'AAA' (BL: 89.01, LCR:
     8.79);
  -- $95.7 million class M-1 affirmed at 'AA+' (BL: 75.08, LCR:
     7.42);
  -- $83.7 million class M-2 affirmed at 'AA' (BL: 62.00, LCR:
     6.12);
  -- $47.8 million class M-3 affirmed at 'AA-' (BL: 53.82, LCR:
     5.32);
  -- $62.8 million class M-4 affirmed at 'A+' (BL: 26.54, LCR:
     2.62);
  -- $52.3 million class M-5 affirmed at 'A' (BL: 22.85, LCR:
     2.26);
  -- $32.9 million class M-6 affirmed at 'A-' (BL: 20.67, LCR:
     2.04);
  -- $44.8 million class M-7 affirmed at 'BBB+' (BL: 17.83,
     LCR: 1.76);
  -- $34.4 million class M-8 affirmed at 'BBB' (BL: 15.69, LCR:
     1.55);
  -- $35.8 million class M-9 affirmed at 'BBB-' (BL: 13.99,
     LCR: 1.38).

Deal Summary
  -- Originators: 100% New Century Mortgage Corp.;
  -- 60+ day Delinquency: 21.60%;
  -- Realized Losses to Date (% of Original Balance): 0.87%;
  -- Expected Remaining Losses (% of Current Balance): 10.12%;
  -- Cumulative Expected Losses (% of Original Balance): 3.32%.

New Century 2005-3
  -- $571.0 million class A affirmed at 'AAA' (BL: 59.03, LCR:
     6.79);
  -- $100.0 million class M-1 affirmed at 'AA+' (BL: 50.65,
     LCR: 5.83);
  -- $91.3 million class M-2 affirmed at 'AA' (BL: 39.64, LCR:
     4.56);
  -- $58.0 million class M-3 affirmed at 'AA-' (BL: 37.15, LCR:
     4.27);
  -- $52.2 million class M-4 affirmed at 'A+' (BL: 33.25, LCR:
     3.82);
  -- $49.3 million class M-5 affirmed at 'A' (BL: 22.50, LCR:
     2.59);
  -- $43.5 million class M-6 affirmed at 'A-' (BL: 19.90, LCR:
     2.29);
  -- $39.1 million class M-7 affirmed at 'BBB+' (BL: 17.54,
     LCR: 2.02);
  -- $33.3 million class M-8 affirmed at 'BBB' (BL: 15.46, LCR:
     1.78);
  -- $29.0 million class M-9 affirmed at 'BBB-' (BL: 13.79,
     LCR: 1.59);
  -- $24.6 million class M-10 affirmed at 'BBB-' (BL: 12.99,
     LCR: 1.49).

Deal Summary
  -- Originators: 100% New Century Mortgage Corp.;
  -- 60+ day Delinquency: 19.07%;
  -- Realized Losses to Date (% of Original Balance): 0.84%;
  -- Expected Remaining Losses (% of Current Balance): 8.69%;
  -- Cumulative Expected Losses (% of Original Balance): 4.40%.

The rating actions are based on changes that Fitch has made to its
subprime loss forecasting assumptions.  The updated assumptions
better capture the deteriorating performance of pools from 2006
and late 2005 with regard to continued poor loan performance and
home price weakness.


NORTHWEST PARKWAY: Fitch Withdraws Junk Rating on $431.8MM Bonds
----------------------------------------------------------------
Fitch Ratings has withdrawn its 'CCC+' rating and Negative Outlook
on approximately $431.8 million in Northwest Parkway Public
Highway Authority, CO, senior revenue bonds, series 2001A, series
2001B and series 2001C.  The bonds were defeased on November 21
pursuant to a concession and lease agreement between the authority
and Northwest Parkway, LLC, which is owned by Brisa Auto-estradas
de Portugal, SA and Companhia de Concessoes Rodoviarias.


NRG ENERGY: Supplements Offers to Purchase $4.7BB of Senior Notes
-----------------------------------------------------------------
NRG Energy Inc. disclosed that, in connection with its pending
conditional tender offers and concurrent consent solicitations
relating to its $4.7 billion of outstanding 7.25% senior notes due
2014, 7.375% senior notes due 2016 and 7.375% senior notes due
2017, it is providing each investor with a new consent alternative
with respect to its Notes in addition to the tender offers and
consent solicitations, which remain in effect.

Each investor may elect to tender its Notes in the conditional,
contractually required offers at 101% of the principal amount,
plus accrued interest, or may elect to receive a consent payment
of $1.25 to $2.50 in cash per $1,000 principal amount of Notes.

For the Original Consent Payment, consents are limited to an
agreement not to require the change of control offers in
connection with NRG's formation of a holding company structure via
the contemplated intercompany merger transaction.  The Original
Consent Payment will be a minimum of $1.25 per $1,000 principal
amount of Notes, or, in the event that such consents are received
from a majority in principal amount of a series of Notes, will be
$1.25 divided by the percentage of that series which consented.

As supplemented, each investor will have the same two alternatives
as before well as a new consent alternative.

Under the new alternative, each investor may elect to receive a
consent payment of $7.50 to $15.00 in cash per $1,000 principal
amount of Notes.  

For the Alternative Consent Payment, consents will provide a new
exception to the limitation on restricted payments in the
indentures for the Notes which will permit restricted payments,
including dividends and/or stock repurchases, of up to
$300 million per year, with any of this additional restricted
payment capacity not used during a year being carried over to the
next year on a cumulative basis and without reducing the amounts
otherwise available to make restricted payments.

In the event that consents to the new consent alternative are
received from a majority in principal amount of each of the three
series of Notes, the Alternative Consent Payment will be $7.50,
divided by the overall percentage of the aggregate principal
amount of the Notes that delivered consents under the new
alternative and, in that event, NRG will not consummate the Holdco
Merger and NRG will not be obligated to consummate the tender
offers.

In all other events, Holders of Notes who deliver consents under
the new consent alternative will also be consenting to the
Original Amendment and will receive $7.50 per $1,000 principal
amount of such Notes subject to and promptly upon consummation of
the Holdco Merger.

NRG's obligation to make the minimum consent payments of $1.25 per
$1,000 principal amount of Notes or $7.50 per $1,000 principal
amount of Notes, as applicable, is not conditioned on the receipt
of consents from holders of Notes representing a majority in
principal amount of any one or more series.

The only condition to NRG's obligation to make these minimum
consent payments is the consummation of the Holdco Merger, and NRG
will make these consent payments promptly thereafter.  

The only condition to NRG's obligation to make the Maximum
Alternative Consent Payment is the receipt and effectiveness of
consents to the new consent alternative from holders of a majority
in principal amount of each of the three series of Notes, and NRG
will make such payments promptly thereafter.

In the event that consents are received with respect to Notes
representing a majority in principal amount of a particular series
of Notes, whether under the original consent alternative, the new
consent alternative or both on a combined basis, NRG will have the
option to terminate the tender offer for that series of Notes in
its discretion without purchasing any tendered Notes of such
series.

Tendered Notes will not be eligible to receive any consent payment
even if NRG exercises its option to terminate the tender offer for
a series after receiving majority consents from that series.

The tender offers are not being modified and will continue in
effect on the same terms and conditions.  The tender offers are
expressly conditioned on the consummation of the Holdco Merger,
although NRG reserves the right to accept tenders and purchase
tendered Notes even if the Holdco Merger is not consummated.

Only one election may be made with respect to a specific principal
amount of Notes.  However, one election may be made for a portion
of such Notes and another election or elections may be made for
the remainder of such Notes.

Holders who deliver consents with respect to any Notes will be
eligible to receive either the Original Consent Payment or the
Alternative Consent Payment for such Notes, as appropriate
according to their election for such Notes, but not both consent
payments.  Notes that are neither tendered nor consented will not
be eligible to receive a consent payment under any circumstances.

The tender offers and the consent solicitations will expire at
9:00 a.m., New York City time, on Tuesday, Dec. 4, 2007, unless
extended.  NRG reserves the right, but is not obligated, to extend
the tender offers and the consent solicitations.  Tenders may be
withdrawn and consents may be revoked at any time prior to
9:00 a.m., New York City time, on Tuesday, Dec. 4, 2007.

Banc of America Securities LLC is the exclusive dealer manager for
the tender offers and solicitation agent for the consent
solicitations.  Questions regarding the tender offers and the
consent solicitations can be addressed to Banc of America
Securities LLC at (888) 292-0070 or (212) 847-5188.  Requests for
documents may be directed to MacKenzie Partners Inc., the
information agent, at (800) 322-2885 or (212) 929-5500.

                        About NRG Energy

Hearquartered in Princeton, New Jersey, NRG Energy Inc. (NYSE:  
NRG) -- http://www.nrgenergy.com/-- owns and operates a diverse  
portfolio of power-generating facilities, primarily in Texas and
the Northeast, South Central and West regions of the U.S.  Its
operations include baseload, intermediate, peaking, and
cogeneration and thermal energy production facilities.  NRG also
has ownership interests in generating facilities in Australia,
Germany and Brazil.

                          *     *     *

Standard & Poor's Ratings Services rated NRG Energy Inc.'s
$4.7 billion unsecured bonds at 'B'.  In addition, Standard &
Poor's rated NRG Energy Inc.'s corporate credit rating at 'B+'.  
The outlook is stable.


PARK PLACE: S&P Lowers Ratings on Six Certificate Classes
---------------------------------------------------------
Standard & Poor's Ratings Services lowered its ratings on six
classes of asset-backed pass-through certificates from four Park
Place Securities Inc. series.  Three of the classes were
downgraded from investment-grade to speculative-grade.  
Concurrently, S&P affirmed its ratings on all remaining classes of
mortgage pass-through certificates from these four Park Place
Securities Inc. series.  
     
The table below shows the current performance data of the four
series.  


                       Performance Data

                           Cum. realized       Severely
       Series              losses(i)          delinq (ii)
       ------              -------------      -----------
       2004-MCW1           1.79%               21.68%
       2004-MHQ1           2.61%               15.58%
       2004-WCW2           2.35%               18.97%
       2004-WHQ1           2.05%               18.01%

(i)As a percentage of original pool balance.
(ii)As a percentage of current pool balance.

                         Current pool bal.           Months
    Series              (% of orig. pool bal.)      seasoned
    ------               ---------------------      --------
    2004-MCW1           19.20                       36
    2004-MHQ1           24.42                       35
    2004-WCW2           21.48                       36
    2004-WHQ1           20.67                       36

The downgrades of class M-9 and M-10 from series 2004-MCW1 reflect
monthly losses outpacing monthly excess interest.  As of the
October 2007 remittance period, monthly losses for the last three
months averaged $2,280,728, while the average monthly excess
interest was $911,770.  In addition, overcollateralization began
stepping down.  At the current loss levels, current and projected
credit support percentages are not sufficient to support the
ratings at the previous levels.   
     
The downgrade of class M-10 from series 2004-MHQ1 reflects the
increasing losses that are outpacing monthly excess interest
causing O/C to decline to $54,419,148, or 1.94% of the original
pool balance.  As of the October 2007 remittance period, monthly
losses for the last three months averaged $4,060,068, while the
average monthly excess interest was $1,495,252.  O/C was below its
target of $85,400,001, or 3.05% of the original pool balance.  At
the current loss levels, current and projected credit support
percentages are not sufficient to support the rating at its
previous level.   

The downgrades of class M-9 and M-10 from series 2004-WCW2 reflect
increasing losses that are outpacing monthly excess interest.  As
of the October 2007 remittance period, monthly losses for the last
three months averaged $4,500,681, while the average monthly excess
interest averaged $1,299,355.  In addition, the O/C began stepping
down.  At the current loss levels, current and projected credit
support percentages are not sufficient to support the ratings at
their previous levels.   
     
The downgrade of class M-10 from series 2004-WHQ1 reflects
increasing losses that are outpacing monthly excess interest.  As
of the October 2007 remittance period, monthly losses for the last
three months averaged $2,143,275, while the average monthly excess
interest averaged $993,955.  In addition, the O/C began stepping
down.  At the current loss levels, current and projected credit
support percentages are not sufficient to support the rating at
its previous level.   

S&P affirmed its ratings on the remaining classes from the 2004-
MCW1, 2004-MHQ1, 2004-WCW2, and 2004-WHQ1 series based on loss
coverage percentages that are sufficient to maintain the current
ratings.  
     
Subordination, O/C, and excess spread provide credit support for
all of the affected deals.  The collateral for these transactions
primarily consists of subprime, adjustable- and fixed-rate
mortgage loans secured by first and second liens on residential
properties.  


                       Ratings Lowered

                  Park Place Securities Inc.
            Asset-backed pass-through certificates

                                          Rating
                                          ------
          Series           Class     To           From
          ------           -----     --           ----
          2004-MCW1        M-9       BB           BBB
          2004-MCW1        M-10      CCC          BBB-
          2004-MHQ1        M-10      B            BB+
          2004-WCW2        M-9       BB           BBB-
          2004-WCW2        M-10      B            BB+
          2004-WHQ1        M-10      B            BB+

                        Ratings Affirmed

                    Park Place Securities Inc.
             Asset-backed pass-through certificates

          Series           Class                 Rating
          ------           -----                 ------
          2004-MCW1        A-1, A-2, A-5         AAA
          2004-MCW1        M-1                   AA+
          2004-MCW1        M-2                   AA
          2004-MCW1        M-3                   AA-
          2004-MCW1        M-4, M-5              A+
          2004-MCW1        M-6                   A
          2004-MCW1        M-7                   A-
          2004-MCW1        M-8                   BBB+
          2004-MHQ1        A-1, A-3, A-4         AAA
          2004-MHQ1        M-1                   AA+
          2004-MHQ1        M-2                   AA
          2004-MHQ1        M-3                   AA-
          2004-MHQ1        M-4                   A+
          2004-MHQ1        M-5                   A
          2004-MHQ1        M-6                   A-
          2004-MHQ1        M-7                   BBB+
          2004-MHQ1        M-8                   BBB
          2004-MHQ1        M-9                   BBB-
          2004-WCW2        A-1, A-2, A-5, A-7    AAA
          2004-WCW2        M-1                   AA+
          2004-WCW2        M-2                   AA
          2004-WCW2        M-3                   AA-
          2004-WCW2        M-4                   A+
          2004-WCW2        M-5                   A
          2004-WCW2        M-6                   A-
          2004-WCW2        M-7                   BBB+
          2004-WCW2        M-8                   BBB
          2004-WHQ1        A-1, A-2, A-5         AAA
          2004-WHQ1        M-1                   AA+
          2004-WHQ1        M-2                   AA
          2004-WHQ1        M-3                   AA-
          2004-WHQ1        M-4                   A+
          2004-WHQ1        M-5                   A
          2004-WHQ1        M-6                   A-
          2004-WHQ1        M-7                   BBB+
          2004-WHQ1        M-8                   BBB
          2004-WHQ1        M-9                   BBB-


PEOPLE'S CHOICE: Fitch Puts Low-B Ratings on Three Cert. Classes
----------------------------------------------------------------
Fitch Ratings has taken these rating actions on the People's
Choice mortgage pass-through certificates:

Series 2004-2

  -- Class M-1 affirmed at 'AA+';
  -- Class M-2 affirmed at 'AA';
  -- Class M-3 downgraded to 'A' from 'A+';
  -- Class M-4 downgraded to 'BBB+' from 'A';
  -- Class M-5 downgraded to 'BB+' from 'A-';
  -- Class M-6 downgraded to 'B' from 'BBB+' and removed from
     Rating Watch Negative;
  -- Class M-7 downgraded to 'B-/DR1' from 'BB';
  -- Class M-8 downgraded to 'CCC/DR2' from 'BB-';
  -- Class B downgraded to 'C/DR6' from 'B'.

The affirmations affect approximately $34.8 million of the
outstanding certificates and reflect a stable relationship between
credit enhancement and expected loss.  The downgrades affect
approximately $76.6 million of the outstanding certificates and
reflect deterioration in the relationship between CE and expected
losses.

Since Fitch last took rating action on series 2004-2 in April
2007, losses have continued to exceed excess spread and, as a
result, continue to erode the overcollateralization below target.  
As of the October 2007 remittance date, the OC is $2.2 million
below the target of $3.7 million.  The OC as a percent of the
current collateral balance is 1.30% ($1.5 million).  The
cumulative loss as a percentage of the original collateral balance
is 2.5% and the 60+ DQ (including bankruptcy, foreclosure, and
real estate-owned) as a percentage of the current collateral
balance is 26.8%.  Losses are expected to continue to exceed
excess spread.

The collateral of the above transaction consists of fixed-rate and
adjustable-rate subprime mortgage loans secured by first and
second liens on one- to four-family residential properties.  The
mortgage loans were originated by People's Choice Home Loan Inc.
and are serviced by Chase Home Finance LLC (rated 'RPS1' by
Fitch).

Series 2004-2 has a pool factor of 15% and is seasoned 38 months.  


PERFORMANCE TRANSPORTATION: Taps Kurtzman Carson as Claims Agent
----------------------------------------------------------------
Performance Transportation Services Inc. and its debtor-affiliates
seek permission from the U.S. Bankruptcy Court for the Western
District of New York to employ Kurtzman Carson Consulting LLC to
perform various noticing, claims management, plan solicitation,
balloting, disbursement and other services.

The thousands of creditors and other parties-in-interest involved
in the Chapter 11 cases of Performance Transportation Services
Inc. and its affiliates may impose heavy administrative and other
burdens on the Court and the office of the Court Clerk.

"Kurtzman Carson's assistance will expedite service of notices,
streamline the claims administration process, and permit PTS to
focus efficiently on maximizing the value for stakeholders,"  
Garry M. Graber, Esq., at Hodgson Russ LLP, PTS' proposed counsel,
said.

Pursuant to a services agreement dated Oct. 25, 2007, Kurtzman
Carson will:

   (a) assist the Debtors in preparation and filing of their
       Schedules of Assets and Liabilities and Statement of
       Financial Affairs;

   (b) prepare and serve required notices in PTS' Chapter 11
       cases, including notice of commencement of the
       bankruptcy cases and the initial meeting of creditors
       under Section 341(a) of the Bankruptcy Code, a notice of
       the claims bar date, notices of objections to claims,
       and notices of hearings on a disclosure statement and
       confirmation of a plan;

   (c) prepare for filing with the Clerk's Office an affidavit
       of service that includes a copy of the notice served, an
       alphabetical list of persons on whom the notice was
       served along with their addresses, and the date and
       manner of service;

   (d) maintain copies of all proofs of claim and proofs of
       interests filed in PTS' bankruptcy case;

   (e) maintain official claims register by docketing all
       proofs of claim and proofs of interest in a claims
       database;

   (f) implement necessary security measures to ensure the
       completeness and integrity of the claims registers;

   (g) transmit to the Clerk's Office a copy of the claims
       register on a weekly basis;

   (h) maintain an up-to-date mailing list for all entities
       that have filed proofs of claim or proofs of interest
       and make those list available to the Clerk's Office or
       any party-in-interest;

   (i) provide access to the public examination of copies of
       the proofs of claim or proofs of interest filed in PTS'
       bankruptcy case without charge during regular business
       hours;

   (j) create and maintain a public access Web site providing
       pertinent case information and allowing access to
       certain documents filed in PTS' Chapter 11 case;

   (k) record all transfers of claims and provide notice of
       those transfers;

   (l) assist PTS in the reconciliation and resolution of
       claims;

   (m) comply with applicable federal, state, municipal and
       local statues, ordinances, rules, regulations, orders
       and other requirements;

   (n) provide temporary employees to process claims, as
       necessary;

   (o) promptly comply with further conditions and requirements
       as the Clerk's Office or the Court at any time
       prescribe; and

   (p) provide balloting and solicitation services, including
       producing personalized ballots and tabulating creditor
       ballots on a daily basis.

PTS will pay Kurtzman Carson its customary hourly consulting
fees.  Kurtzman Carson's Fee Structure, however, was not filed
with the Court.  PTS will also pay Kurtzman Carson fees related
to transportation, lodging, meals, publications, postages and
other third-party charges.  Pursuant to the October Service
Agreement, Kurtzman Carson will receive a $15,000 retainer for
its services.

PTS does not believe that Kurtzman Carson, as an administrative
agent and adjunct to the Court, is a "professional" whose
retention is subject to Court approval under Section 327 of the
Bankruptcy Code, or whose compensation is subject to approval of
the Court under Sections 330 and 331 of the Bankruptcy Code.

Performance Transportation Services Inc. is the second largest
transporter of new automobiles, sport-utility vehicles and light
trucks in North America, and operates under three key
transportation business lines including: E. and L. Transport,
Hadley Auto Transport and Leaseway Motorcar Transport.  

The company and 13 of its affiliates previously filed for Chapter
11 protection on Jan. 25, 2006 (Bankr. W.D.N.Y. Lead Case No. 06-
00107). The Court confirmed the Debtors' plan on Dec. 21, 2006,
and that plan became effective on Jan. 29, 2007. Garry M. Graber,
Esq. of Hodgson, Russ LLP and Tobias S. Keller, Esq. of Jones Day
represented the Debtors in their retructuring efforts.  When the
Debtor filed for protection from their creditors it reported more
than $100,000,000 in total assets. It also disclosed owing more
than $100,000,000 to at most 10,000 creditors, including $708,679
to Broadspire and $282,949 to General Motors of Canada Limited.

The company and its debtor-affiliates filed their second Chapter
11 bankruptcy on Nov. 19, 2007 (Bankr. W.D.N.Y. Case Nos: 07-04746
thru 07-04760).  Tobias S. Keller, Esq., at Jones Day, represents
the Debtors.  Garry M. Graber, Esq., at Hodgson, Russ LLP, serve
as the Debtors' local counsel.  The Debtors' claims & balloting
agent is Kutzman Carson Consultants LLC.  (Performance Bankruptcy
News, Issue No. 30; Bankruptcy Creditors' Services Inc.;
http://bankrupt.com/newsstand/or 215/945-7000).


PETRO ACQUISITIONS: Voluntary Chapter 11 Case Summary
-----------------------------------------------------
Lead Debtor: Petro Acquisitions, Inc.
             3955 Alexandria Pike
             Cold Spring, KY 41076

Bankruptcy Case No.: 07-15723

Debtor-affiliates filing separate Chapter 11 petitions on
Nov. 27, 2007:

        Entity                                     Case No.
        ------                                     --------
        O.V. Acquisition, Inc.                     07-15754
        Petro Supply, Inc.                         07-15755
        A.F.M. 29008, Inc.                         07-15756
        C.F.M. #29016, Inc.                        07-15757
        C.F.M. #29027, Inc.                        07-15758
        A.F.M. 29041, Inc.                         07-15761
        C.F.M. # 2943, Inc.                        07-15762
        Shivsagar Corp.                            07-15763
        Greenfield Convenient #2955, Inc.          07-15764
        C.F.M. #29056, Inc.                        07-15765
        A.F.M. 29061, Inc.                         07-15766
        A.F.M. 29065, Inc.                         07-15767
        C.F.M. 29069 Inc.                          07-15768
        Owenton Cenvenient, Inc.                   07-15769
        A.F.M.-Remington 86, Inc.                  07-15770
        A.F.M.-Crookshank 87, Inc.                 07-15771
        Bhavi & Giri, Inc.                         07-15772
        C.F.M. #29098 Inc.                         07-15773
        A.F.M. Dry Ridge 106, Inc.                 07-15774
        A.F.M. 29107, Inc.                         07-15776
        A.F.M. 29114, Inc.                         07-15777
        A.F.M. 29126, Inc.                         07-15778
        A.F.M. 29127, Inc.                         07-15779
        C.F.M. #29305, Inc.                        07-15780
        C.F.M. #29315, Inc.                        07-15781
        C.F.M. No. 29328, Inc.                     07-15782
        C.F.M. No. 29331, Inc.                     07-15783
        A.F.M. 29332, Inc.                         07-15784
        C.F.M. NO. 29610                           07-15785
        C.F.M. No. 29614, Inc.                     07-15786

Debtor-affiliates filing separate Chapter 11 petitions on
Nov. 17, 2007:

        Entity                                     Case No.
        ------                                     --------
        Waco Acquisitions, Inc.                    07-15630
        A.F.M. 802, Inc.                           07-15631
        A.F.M. 803, Inc.                           07-15632
        A.F.M. 804, Inc.                           07-15634
        A.F.M. 808, Inc.                           07-15635
        A.F.M. 809, Inc.                           07-15636
        A.F.M. 811, Inc.                           07-15637
        A.F.M. 813, Inc.                           07-15638
        A.F.M. 817, Inc.                           07-15639

Debtor-affiliates filing separate Chapter 11 petitions on
Nov. 12, 2007:

        Entity                                     Case No.
        ------                                     --------
        A.F.M. 805, Inc.                           07-15511
        A.F.M. 806, Inc.                           07-15512
        A.F.M. 807, Inc.                           07-15513
        A.F.M. 810, Inc.                           07-15514
        A.F.M. 812, Inc.                           07-15515
        A.F.M. 814, Inc.                           07-15516
        A.F.M. 815, Inc.                           07-15517
        A.F.M. 816, Inc.                           07-15518
        Ohio Valley A.F.M., Inc.                   07-15506

Debtor-affiliates filing separate Chapter 11 petitions on
Nov. 5, 2007:

        Entity                                     Case No.
        ------                                     --------
        Gillespie Acquisition, Inc.                07-15378
        Gillespie Wholesale, Inc.                  07-15379
        A.F.M. 711, Inc.                           07-15381
        A.F.M. 712, Inc.                           07-15383
        A.F.M. 713, Inc.                           07-15384
        A.F.M. 714, Inc.                           07-15386
        A.F.M. 716, Inc.                           07-15388
        Jackson Center 717, Inc.                   07-15389
        A.F.M. 717, Inc.                           07-15390
        A.F.M. 720, Inc.                           07-15392
        A.F.M. 721, Inc.                           07-15393
        A.F.M. 722, Inc.                           07-15394
        A.F.M. 723, Inc.                           07-15396

Type of Business: Petro Acquisitions Inc., operates and franchises
                  140 AmeriStop gas stations and convenience
                  stores in Ohio, Kentucky and Indiana.

                  The company's wholly-owned subsidiary Gillespie
                  Acquisition, Inc.  filed for Chapter 11
                  protection with 13 affiliates on November 5
                  (Bankr. S.D. Ohio Lead Case No. 07-15378).

                  Waco Acquisitions, Inc., another of Petro's
                  wholly-owned subsidiary, filed for bankruptcy
                  with eight affiliates on November 17 (Bankr.
                  S.D. Ohio. Lead Case No. 07-15630).

                  A.F.M. 805, Inc. and eight affiliates, are
                  subsidiaries of Waco Acquisition and filed for
                  Chapter 11 on November 12 (Bankr. S.D. Ohio Lead
                  Case No. 07-15511).

                  Ohio Valley A.F.M., Inc., a subsidiary of OV
                  Acquisition, which in turn is a subsidiary of
                  Waco Acquisition, also filed for bankruptcy of
                  November 12 (Bankr. S.D. Ohio under Case No.
                  07-15511).

                  The case summaries of the bankruptcy petitions
                  of Petro's subsidiaries was published in the
                  Troubled Company Reporter on Nov. 20, 2007.

Chapter 11 Petition Date: November 21, 2007

Court: Southern District of Ohio (Cincinnati)

Debtors' Counsel: Ronald E. Gold, Esq.
                  Frost, Brown, Todd L.L.C.
                  2200 P.N.C. Center
                  201 East Fifth Street
                  Cincinnati, OH 45202
                  Tel: (513) 651-6800
                  Fax: (513) 651-6981

Estimated Assets: $1 Million to $100 Million

Estimated Debts:  $1 Million to $100 Million

Petro Acquisitions' affiliates that filed their voluntary Chapter
11 petitions on Nov. 27, have yet to file a list of their 20
largest unsecured creditors.


PETRO ACQUISTIONS: Committee Appointed in Gillespie & AFM's Cases
-----------------------------------------------------------------
The U.S. Trustee for Region 9 appointed five creditors to serve on
an Official Committee of Unsecured Creditors in Gillespie
Acquisition Inc. and its debtor-affiliates' Chapter 11 cases.

This same Committee will also serve in the Chapter 11 cases of
A.F.M. 805 Inc., its debtor-affiliates, and Ohio Valley A.F.M.,
Inc.

The Committee members are:

    1. CORE-MARK MIDCONTINENT, INC.
       2700 National City Tower
       Louisville, Kentucky 40202
       Tel: (502) 588-2000
       Attn: Phillip A. Martin


    2. COCA-COLA ENTERPRISES BOTTLING COMPANIES
       31 Rose Lane
       East Rockaway, New York 11578
       Tel: (516) 374-3705

       Attn: William Kaye

    3. BONNELL HILL DEVELOPMENT CO., INC.
       3000 G. Henkle Drive
       Lebanon, OH 45036
       Attn: Michael T. Schueler
       Tel: (513) 932-6090

       Atty: Ronald S. Preterkin, Esq.
       33 West First Street, Suite 600
       Dayton, Ohio 45402
       Tel: (513) 932-6090

     4. AM #29119
       dba AM 29118
       Joe Hancock
       4419 Village Ridge Drive
       Mason, OH 45040
       Tel: (513) 518-2713

       Atty: Paige L. Ellerman, Esq.
       425 Walnut Street, Suite 1800
       Cincinnati, Ohio 45202
       Tel: (513) 381-2838

     5. CFM # 29073, INC.
       Todd Daniels
       730 Dayton Street
       Hamilton, OH 45011
       Tel: (513) 844-6167
       Cell: (513) 476-0460

       Atty: PAIGE L. ELLERMAN
       425 Walnut Street, Suite 1800
       Cincinnati, Ohio 45202
       Telephone: (513) 381-2838

Official creditors' committees have the right to employ legal
and accounting professionals and financial advisors, at the
Debtors' expense.  They may investigate the Debtors' business and
financial affairs.  Importantly, official committees serve as
fiduciaries to the general population of creditors they represent.  
Those committees will also attempt to negotiate the terms of a
consensual Chapter 11 plan -- almost always subject to the terms
of strict confidentiality agreements with the Debtors and other
core parties-in-interest.  If negotiations break down, the
Committee may ask the Bankruptcy Court to replace management with
an independent trustee.  If the Committee concludes reorganization
of the Debtor is impossible, the Committee will urge the
Bankruptcy Court to convert the Chapter 11 cases to a liquidation
proceeding.

                           About Petro

Based on Cold Spring, Kentucky, Petro Acquisitions Inc., operates
and franchises 140 AmeriStop gas stations and convenience stores
in Ohio, Kentucky and Indiana.  The company filed for Chapter 11
protection on Nov. 21, 2007 (Bankr. S.D. Ohio Case No. 07-15723).  
When it filed for protection from its creditors, Petro
Acquisitions disclosed estimated assets and debts between
$1 million and $100 million.

The company's wholly owned subsidiary Gillespie Acquisition Inc.  
filed for Chapter 11 protection, along with 13 affiliates on
Nov. 5, 2007 (Bankr. S.D. Ohio Lead Case No. 07-15378).  
Gillespie's consolidated financial condition as of July 15, 2007
showed total assets of $11,775,952 and total debts of $11,112,880.

Waco Acquisitions Inc., another of Petro's wholly owned
subsidiary, filed for bankruptcy with eight affiliates on Nov. 17,
2007 (Bankr. S.D. Ohio. Lead Case No. 07-15630).  Waco Acquisition
disclosed that its consolidated financial condition as of July 15,
2007, had total assets of $12,662,827 and total debts of  
$25,536,402.

A.F.M. 805, Inc. and eight affiliates, which are subsidiaries of
Waco Acquisition and filed for Chapter 11 on Nov. 12 (Bankr. S.D.
Ohio Lead Case No. 07-15511).  A.F.M. 805 and its affiliates
disclosed total assets of $13,813,422 and total debts of $658,578
as of July 15, 2007.

Ohio Valley A.F.M., Inc., a subsidiary of OV Acquisition, which in
turn is a subsidiary of Waco Acquisition, also filed for
bankruptcy of November 12 and is jointly administered under the
Chapter 11 case of A.F.M. 805.  Ohio Valley's consolidated
financial condition, which includes the AmeriStop Food Mart
company owned stores, as of Aug. 12, 2007, showed total assets of
$6,383,243 and total debts of $3,331,415.

The latest affiliate of Petro Acquisition to file for Chapter 11
protection was O.V. Acquisition, Inc. and 20 affiliates of
Nov. 27, 2007 (Bankr. S.D. Ohio Case No. 07-15754).  O.V.
Acquisition disclosed estimated assets and debts between
$1 million and $100 million at the time of its filing.

All the voluntary Chapter 11 petitions was filed by receiver
Richard D. Nelson, Esq.  Ronald E. Gold, Esq., at Frost, Brown,
Todd L.L.C., serves as counsel to all the Debtors.


PETRO ACQUISITIONS: Frost Brown Tapped as Counsel in Units' Cases
-----------------------------------------------------------------
Richard D. Nelson, Esq., as receiver for Petro Acquisitions, Inc.,
and Designated Responsible Person for Gillespie Acquisition, Inc.
and its debtor-affiliates and A.F.M. 805, Inc., and its debtor-
affiliates, asks the U.S. Bankruptcy Court for the Southern
District of Ohio for permission to employ Frost, Brown, Todd
L.L.C., as bankruptcy counsel.

Frost Brown will serve as counsel in both Gillespie and AFM's
chapter 11 cases.

Frost Brown was initially retained to defend Petro Acquisitions in
the already pending litigation with its minority shareholder,
Walnut Investment Partners, L.P. In Jan. 25, 2007, the firm
substituted in as counsel in the litigation.  However, as the
litigation progressed, the Debtors financial condition continued
to substantially deteriorate and in September 2007, the Debtors  
consulted Frost Brown Todd LLC regarding financial restructuring
and bankruptcy services.  The Debtors, through the Receiver,
formally engaged Frost Brown to serve as counsel in these chapter
11 cases pursuant to an engagement letter dated Oct. 23, 2007.

As counsel, Frost Brown will:

    (a) advise the Debtors of their powers and duties as debtors-
        in-possession in the continued operation of their
        businesses and properties;

    (b) provide assistance, advice and representation concerning a
        plan of reorganization, a disclosure statement relating
        thereto, and the solicitation of consents to and
        confirmation of such plan;

    (c) advise the Debtors in connection with any sale of assets;

    (d) provide assistance, advice and representation concerning
        any further investigation of the assets, liabilities and
        financial condition of the Debtors that may be required;

    (e) represent the Debtors at hearings or matters pertaining to
        their affairs as debtors-in-possession;

    (f) prosecute and defend litigation matters and such other
        matters that might arise during and related to these
        chapter 11 cases;

    (g) provide counseling and representation with respect to the
        assumption or rejection of executory contracts and leases
        and other bankruptcy-related matters arising from these
        chapter 11 cases;

    (h) render advice with respect to the myriad general corporate
        and litigation issues as they relate to these chapter 11
        cases, including, but not limited to, real estate, ERISA,
        securities, corporate finance, tax and commercial matters
        health services matters; and

    (i) performing such other legal services as may be necessary
        and appropriate for the efficient and economical
        administration of these chapter 11 cases.

Frost Brown has received a $150,000 general retainer sourced from
cash from operating funds of the Debtors and the Petro Companies.  
As of the date of filing of the either Debtors' chapter 11
petitions, the retainer had a remaining balance of $0.

Aside from the retainer, within one year prior to the bankruptcy
filing, Frost Brown received $98,056.93 on account of its
prepetition services to the Petro Companies.  In addition, as of
the date of the bankruptcy filings, Frost Brown has accrued but
unpaid fees owing by the Petro Companies in the amount of not less
than $108,888.64.  Frost Brown is waiving its claim as to the
Unpaid Amount.

Ronald E. Gold, Esq., a member of Frost Brown, assures the Court
that his firm is a "disinterested person" as that term is defined
in Section 101(14) of the Bankruptcy Code.

                             About Petro

Based on Cold Spring, Kentucky, Petro Acquisitions, Inc., operates
and franchises 140 AmeriStop gas stations and convenience stores
in Ohio, Kentucky and Indiana.  The company filed for Chapter 11
protection on Nov. 21, 2007 (Bankr. S.D. Ohio Case No. 07-15723).  
When it filed for protection from its creditors, Petro
Acquisitions disclosed estimated assets and debts between
$1 million and $100 million.

The company's wholly owned subsidiary Gillespie Acquisition, Inc.  
filed for Chapter 11 protection, alng with 13 affiliates on
Nov. 5, 2007 (Bankr. S.D. Ohio Lead Case No. 07-15378).  
Gillespie's consolidated financial condition as of July 15, 2007
showed total assets of $11,775,952 and total debts of $11,112,880.

Waco Acquisitions, Inc., another of Petro's wholly owned
subsidiary, filed for bankruptcy with eight affiliates on Nov. 17,
2007 (Bankr. S.D. Ohio. Lead Case No. 07-15630).  Waco Acquisition
disclosed that its consolidated financial condition as of July 15,
2007, had total assets of $12,662,827 and total debts of  
$25,536,402.

A.F.M. 805, Inc. and eight affiliates, which are subsidiaries of
Waco Acquisition and filed for Chapter 11 on Nov. 12 (Bankr. S.D.
Ohio Lead Case No. 07-15511).  A.F.M. 805 and its affiliates
disclosed total assets of $13,813,422 and total debts of $658,578
as of July 15, 2007.

Ohio Valley A.F.M., Inc., a subsidiary of OV Acquisition, which in
turn is a subsidiary of Waco Acquisition, also filed for
bankruptcy of November 12 and is jointly administered under the
Chapter 11 case of A.F.M. 805.  Ohio Valley's consolidated
financial condition, which includes the AmeriStop Food Mart
company owned stores, as of Aug. 12, 2007, showed total assets of
$6,383,243 and total debts of $3,331,415.

The latest affiliate of Petro Acquisition to file for Chapter 11
protection was O.V. Acquisition, Inc. and 20 affiliates of
Nov. 27, 2007 (Bankr. S.D. Ohio Case No. 07-15754).  O.V.
Acquisition disclosed estimated assets and debts between
$1 million and $100 million at the time of its filing.

All the voluntary Chapter 11 petitions was filed by receiver
Richard D. Nelson, Esq.  Ronald E. Gold, Esq., at Frost, Brown,
Todd L.L.C., serves as counsel to all the Debtors.


QUAKER FABRIC: Want Until March 2008 to Remove Civil Actions
------------------------------------------------------------
Quaker Fabric Corporation and its debtor-affiliates ask the
United States Bankruptcy Court for the District of Delaware to
set the period within which they can remove civil actions on
March 13, 2008.

The Debtors tell the Court that they were not able to evaluate the
potential need to remove any of their pending prepetition civil
actions.  The Debtors said that they have been focusing on the
transition into Chapter 11, as well as the sale process of
substantially all of their assets.

On Sept. 19, 2007, the Court approved that sale, including,
the right to designate for certain parcels of real property and
leases, to Gordon Brothers Group LLC for approximately
$27 million.

The Debtors assure the Court that their adversaries will not
be prejudiced by the extension under Section 1452(b) of the
Bankruptcy Code.  The Debtors say that the request is in the best
interest of the estate and creditors.

                       About Quaker Fabric

Based in Fall River, Mass., Quaker Fabric Corp. (NASDAQ: QFAB) --
http://www.quakerfabric.com/-- designs, manufactures, and markets  
woven upholstery fabrics primarily for residential furniture
manufacturers and jobbers.  It also develops and manufactures
specialty yarns, including chenille, taslan, and spun products for
use in the production of its fabrics, as well as for sale to
distributors of craft yarns, and manufacturers of homefurnishings
and other products.  The company is one of the largest producers
of Jacquard upholstery fabrics.

Quaker Fabric sells its products through sales representatives
andindependent commissioned sales agents in the United States,
Canada, Mexico, and internationally.

The company and its affiliate, Quaker Fabric Corporation of Fall
River, filed for chapter 11 protection on Aug. 16, 2007 (Bankr. D.
Del. Case No. 07-11146).  John D. Sigel, Esq. at Wilmer Cutler
Pickering Hale and Dorr LLP and Joel A. Waite, Esq. at Young
Conaway Stargatt & Taylor LLP are co-counsels to the Debtors.  
Epiq Bankruptcy Solutions is the Debtors' claims agent.  The
Official Committee of Unsecured Creditors has selected Shumaker,
Loop & Kendrick, LLP, as its bankruptcy counsel and Benesch,
Friedlander, Coplan & Aronoff, LLP, as co-counsel.

The Debtors' schedules reflect total assets of $41,375,191 and
total liabilities of $54,435,354.


QUALITY HOMES: Ch. 11 Trustee Taps Lewis Landau as Bankr. Counsel
-----------------------------------------------------------------
David Gould, the appointed Chapter 11 Trustee in Quality Home
Loans' bankruptcy case, asks the United States Bankruptcy Court
for the Central District of California for permission to employ
Lewis R. Landau, Esq., as his general bankruptcy counsel.

The firm will assist the Trustee in his duties pursuant to Section
1106 of the Bankruptcy Code, which services are not performed by
alternate counsel duly employed for a specified special purpose.

Mr. Lewis Landau charges $375 per hour for services rendered for
this engagement.  Linda Landau, a paralegal of the firm, bills
$125 per hour.

In addition, Mr. Landau also seeks the Court approval for monthly
payment of 90% all fees and 100% of all cost on terms applicable
to other professionals employed in this case.

Mr. Landau assures the Court that the firm he does not hold any
interest adverse to the Debtor's estate and is a "disinterested
person" as defined in Section 101(14) of the Bankruptcy Code.

Mr. Landau can be reached at:

    Lewis R. Landau, Esq.
    Attorney at Law
    23564 Calabasas Road, Suite 104
    Calabasas, CA 91302
    Tel: (8880 822-4340

Based in Agoura Hills, California, Quality Home Loans --
http://www.qualityhomeloans.com/-- is a residential hard money     
lender.  The company does business as Clear Credit Capital, Last
Chance Home Loans, Last Option Lending, and Q.H.L. Investments.

The company and its debtor-affiliates filed for Chapter 11
protection on Aug. 21, 2007 (Bankr. C.D. Calif. Case Nos. 07-
13003 through 07-13006).  William N. Nobel, Esq. and Mike D. Neue,
Esq. at Irell & Manella LLP represent the Debtors in their
restructuring efforts.  Eric. E. Sagerman, Esq. and David L.
Wilson III, Esq. at Winston & Strawn LLP act as counsels to the
Official Committee of Unsecured Creditors.  David Gould, Chapter
11 Trustee, is represented by Lewis R Landau, Esq., at Lewis R
Landau Attorney at Law.  The Debtors' schedules disclose total
assets of $130,319,336 and total debts of $177,043,476.


REABLE THERA: Completes $1.5 Billion Merger Deal with DJO Inc.
--------------------------------------------------------------
ReAble Therapeutics Inc. has completed its Agreement and Plan of
Merger with DJO Incorporated on Nov. 20, 2007.  The transaction is
valued at approximately $1.5 billion.

Pursuant to the terms of the merger agreement, holders of DJO's
common stock will receive $50.25 in cash for each share of DJO
common stock that they owned immediately prior to the effective
time of the merger.  As a result of the merger, DJO's common stock
will cease to trade on the New York Stock Exchange at the close of
the market on Nov. 20, 2007, and will be delisted.

Financing for the merger was provided by the combination of an
equity contribution from Blackstone Capital Partners V L.P., an
affiliate of The Blackstone Group, and debt financing arranged by
Credit Suisse and Bank of America.

After the closing, ReAble Therapeutics Inc. will be renamed DJO
Incorporated and will relocate its headquarters to Vista,
California.

"On behalf of both DJO and ReAble, I am extremely pleased that we
have completed this transaction, which establishes our company as
one of the largest global providers of solutions for
musculoskeletal and vascular health," Les Cross, Chief executive
office of the new DJO Incorporated, said.  "Both organizations
have enjoyed a proud history, with talented employees driving each
company to a respected leadership position in their markets."

"We continue to be very excited about the business prospects for
the New DJO," Mr. Cross added.  "This combination provides us with
great opportunities to strengthen our value proposition for our
customers in two important ways.  First, the crossover of our
distribution channels should provide our sales teams with
significant cross-selling opportunities in global markets for the
two companies' product lines, providing our customers with one-
stop access to some of the best brands in the business."

"Second, the merger accelerates the pace of innovation within the
new DJO," he ended.  "From the collaboration of our product
development teams we can bring unique new products to market that
better serve the needs of our customers and their patients."

                      About DJO Incorporated

Headquartered in Vista, California, DJO Incorporated -
http://www.djortho.com/-- is a provider of solutions for  
musculoskeletal and vascular health, specializing in
rehabilitation and regeneration products for the non-operative
orthopedic, spine and vascular markets.  Marketed under the
Aircast(R), DonJoy(R) and ProCare(R) brands, the company's range
of over 750 rehabilitation products, including rigid knee braces,
soft goods and cold therapy products, are used in the prevention
of injury, in the treatment of chronic conditions and for recovery
after surgery or injury.  The company sells its products in the
United States and in more than 75 other countries through networks
of agents, distributors and its own direct sales force.

                  About ReAble Therapeutics Inc.

ReAble Therapeutics Inc. -- http://www.reableinc.com/-- is a  
diversified orthopedic device company that develops, manufactures
and distributes a comprehensive range of high quality orthopedic
devices used by orthopedic surgeons, physicians, therapists,
athletic trainers and other healthcare professionals to treat
patients with musculoskeletal conditions resulting from
degenerative diseases, deformities, traumatic events and sports-
related injuries.  Through its Orthopedic Rehabilitation Division,
ReAble is a distributor of electrical stimulation and other
orthopedic products used for pain management, orthopedic
rehabilitation, physical therapy, fitness and sport performance
enhancement.  ReAble's Surgical Implant Division offers a
comprehensive suite of reconstructive joint products.

                         *     *     *

Moodys's Investor Services placed Reable Therapeutics Inc.'s long
term corporate family and probability of default ratings at 'B2'
in July 2007.


RESIDENTIAL ASSET: S&P Junks Rating on S.2004-F Class B-5 Trust
---------------------------------------------------------------
Standard & Poor's Ratings Services lowered its rating on class B-5
from Residential Asset Securitization Trust 2004-A6's series 2004-
F to 'CCC' from 'B'.  At the same time, S&P placed its rating on
class B-4 from series 2004-F on CreditWatch with negative
implications.  Furthermore, S&P raised its ratings on six classes
from series 2002-L, 2002-O, and 2003-B.  Finally, S&P affirmed its
ratings on 275 classes from these and other Residential Asset
Securitization Trust transactions.
     
The downgrade of class B-5 from series 2004-F and the CreditWatch
placement of class B-4 from the same series reflect high
delinquencies relative to the available credit support in the
deal.  Although the transaction has not incurred any losses to
date, the deal has seen a steady increase in the delinquency
pipeline over the past six months.  Current credit support is
0.07% of the current pool balance, and future credit support is
projected to be significantly lower than the original credit
support.  As of the October 2007 remittance period, total
delinquencies were 4.72% of the current pool balance, and severe
delinquencies (90-plus days, foreclosures, and REOs) were 1.53% of
the current pool balance.
     
The upgrades reflect the strong performance of the mortgage loan
pools, along with actual and projected credit support percentages
that adequately support the raised ratings.  Currently, the
upgraded certificates have at least 2.0x the original loss
coverage levels associated with the raised ratings and should be
sufficient to support them at the upgraded levels.  As of the
October 2007 remittance period, cumulative losses for these
transactions ranged from 0.00024% (series 2002-L) to 0.13% (series
2002-O) of the original pool balances, total delinquencies ranged
from 3.53% (series 2003-B) to 11.80% (series 2002-O) of the
current pool balances, and severe delinquencies ranged from 0.00%
(series 2002-L) to 5.57% (series 2002-O) of the current pool
balances.  All of these transactions, with the exception of series
2003-B, have paid down to less than 10% of their original
principal balances.  Approximately 19.58% of the original
principal balance is still outstanding for series 2003-B.
     
The affirmations reflect stable collateral performance as of the
October 2007 remittance period.  Actual and projected credit
support percentages are sufficient to support the certificates at
their current rating levels.  Cumulative losses for these
transactions ranged from 0.00% (series 2003-A6, 2003-A8, and 2003-
A12) to 2.29% (series 2000-A6) of the original pool balances,
total delinquencies ranged from 0.60% (series 2003-A8) to 40.79%
(series 2000-A6) of the current pool balances, and severe
delinquencies ranged from 0.00% (series 2003-A8 and 2003-A12) to
14.90% (series 2000-A6) of the current pool balances.
     
Subordination primarily provides credit support for these
transactions.  The underlying collateral for these series consists
primarily of Alternative-A, fixed-rate, fully amortizing
conventional mortgage loans secured by first liens on one- to
four-family residential properties.


                         Rating Lowered

             Residential Asset Securitization Trust

                                          Rating
                                          ------
           Trust   Series     Class     To       From
           -----   ------     -----     --       ----
           2004-A6 2004-F     B-5       CCC      B        

             Rating Placed on Creditwatch Negative

            Residential Asset Securitization Trust

                                             Rating
                                             ------
     Trust     Series       Class       To             From
     -----     ------       -----       --             ----
     2004-A6   2004-F       B-4         BB/Watch Neg   BB

                         Ratings Raised

             Residential Asset Securitization Trust

                                               Rating
                                               ------
    Trust      Series         Class        To          From
    -----      ------         -----        --          ----
    2002-A12   2002-L         B-2          AAA         AA+     
    2002-A12   2002-L         B-3          AA+         AA-    
    2002-A15   2002-O         B-1          AAA         AA        
    2002-A15   2002-O         B-2          AA          A       
    2003-A2    2003-B         B-2          AA          AA-
    2003-A2    2003-B         B-3          BBB+        BBB   

                       Ratings Affirmed

             Residential Asset Securitization Trust

   Trust      Series    Class                         Rating
   -----      ------    -----                         ------
   1999-A3    1999-C    A-1, PO, X, B-1, B-2          AAA
   1999-A3    1999-C    B-3                           AA
   2000-A6    2000-F    X                             AAA
   2002-A12   2002-L    A-4, PO, A-X, 2-A-9           AAA
   2002-A12   2002-L    B-1                           AAA
   2002-A13   2002-M    A-4, A-5, A-6, PO, A-X        AAA
   2002-A13   2002-M    B-1                           AA+
   2002-A13   2002-M    B-2                           AA
   2002-A13   2002-M    B-3                           A
   2002-A14J  2002-N    A-4, A-9, A-10, PO, A-X       AAA
   2002-A14J  2002-N    B-1                           AA+
   2002-A14J  2002-N    B-2                           AA
   2002-A14J  2002-N    B-3                           A+
   2002-A15   2002-O    A-11, PO, A-X                 AAA
   2002-A15   2002-O    B-3                           BBB
   2002-A16   2002-P    A-2, A-3, PO, A-X             AAA
   2002-A16   2002-P    B-1                           AA+
   2002-A16   2002-P    B-2                           AA
   2002-A16   2002-P    B-3                           A-
   2003-A1    2003-A    A-1, A-2, A-3, A-4            AAA
   2003-A1    2003-A    A-11, A-12, PO, A-X           AAA
   2003-A1    2003-A    B-1                           AA+
   2003-A1    2003-A    B-2                           AA
   2003-A1    2003-A    B-3                           A
   2003-A2    2003-B    A-1, A-2, A-3                 AAA
   2003-A2    2003-B    A-7, A-8, A-9, PO, A-X        AAA
   2003-A2    2003-B    B-1                           AA+
   2003-A2    2003-B    B-4                           BB  
   2003-A2    2003-B    B-5                           B
   2003-A4    2003-D    A-1, A-2, A-3, A-4            AAA
   2003-A4    2003-D    A-9, PO, A-X                  AAA
   2003-A4    2003-D    B-1                           AA
   2003-A4    2003-D    B-2                           A
   2003-A4    2003-D    B-3                           BBB
   2003-A5    2003-E    A-1, A-2, A-3, A-4, A-5, A-6  AAA
   2003-A5    2003-E    A-7, PO, A-X                  AAA
   2003-A5    2003-E    B-1                           AA
   2003-A5    2003-E    B-2                           A
   2003-A5    2003-E    B-3                           BBB
   2003-A5    2003-E    B-4                           BB
   2003-A6    2003-F    A-1, A-2, A-3, A-4, A-5       AAA
   2003-A5    2003-E    B-5                           B
   2003-A6    2003-F    A-6, A-7, PO, A-X             AAA
   2003-A6    2003-F    B-1                           AA
   2003-A6    2003-F    B-2                           A
   2003-A6    2003-F    B-3                           BBB
   2003-A6    2003-F    B-4                           BB
   2003-A6    2003-F    B-5                           B
   2003-A7    2003-G    A-2, A-3, A-4, A-5, A-7, A-8  AAA
   2003-A7    2003-G    A-9, A-10, A-11, A-12         AAA
   2003-A7    2003-G    PO, A-X                       AAA
   2003-A7    2003-G    B-1                           AA
   2003-A7    2003-G    B-2                           A
   2003-A7    2003-G    B-3                           BBB
   2003-A7    2003-G    B-4                           BB
   2003-A7    2003-G    B-5                           B
   2003-A8    2003-H    A-1, A-2, A-3, A-4, A-5       AAA
   2003-A8    2003-H    PO, A-X                       AAA
   2003-A8    2003-H    B-1                           AA
   2003-A8    2003-H    B-2                           A
   2003-A8    2003-H    B-3                           BBB
   2003-A8    2003-H    B-4                           BB
   2003-A8    2003-H    B-5                           B
   2003-A9    2003-I    A-1, A-2, A-3, A-4, A-5       AAA
   2003-A9    2003-I    A-7, A-8, PO, A-X             AAA
   2003-A9    2003-I    B-1                           AA
   2003-A9    2003-I    B-2                           A
   2003-A9    2003-I    B-3                           BBB
   2003-A9    2003-I    B-4                           BB
   2003-A9    2003-I    B-5                           B
   2003-A10   2003-J    A-1, A-2, A-3, A-4, A-5       AAA
   2003-A10   2003-J    PO, A-X                       AAA
   2003-A10   2003-J    B-1                           AA
   2003-A10   2003-J    B-2                           A
   2003-A10   2003-J    B-3                           BBB
   2003-A10   2003-J    B-4                           BB
   2003-A10   2003-J    B-5                           B
   2003-A11   2003-K    A-2, A-3, A-6, A-8, A-9       AAA
   2003-A11   2003-K    PO, A-X                       AAA
   2003-A11   2003-K    B-1                           AA
   2003-A11   2003-K    B-2                           A
   2003-A11   2003-K    B-3                           BBB
   2003-A11   2003-K    B-4                           BB
   2003-A11   2003-K    B-5                           B
   2003-A12   2003-L    A-1, A-2, A-3, PO, A-X        AAA
   2003-A12   2003-L    B-1                           AA
   2003-A12   2003-L    B-2                           A
   2003-A12   2003-L    B-3                           BBB
   2003-A12   2003-L    B-4                           BB
   2003-A12   2003-L    B-5                           B
   2003-A13   2003-M    A-1, A-2, A-3, A-4, A-5       AAA
   2003-A13   2003-M    PO, A-X                       AAA
   2003-A13   2003-M    B-1                           AA
   2003-A13   2003-M    B-2                           A
   2003-A13   2003-M    B-3                           BBB
   2003-A13   2003-M    B-4                           BB
   2003-A13   2003-M    B-5                           B
   2004-A4    2004-D    A-1, A-2, A-3, A-4, A-5, A-6  AAA
   2004-A4    2004-D    A-7, A-8, A-9, A-10, A-11     AAA
   2004-A4    2004-D    A-13, A-14, A-15, PO, A-X     AAA
   2004-A4    2004-D    B-1                           AA
   2004-A4    2004-D    B-2                           A
   2004-A4    2004-D    B-3                           BBB
   2004-A4    2004-D    B-4                           BB
   2004-A4    2004-D    B-5                           B
   2004-A5    2004-E    A-1, PO, A-X                  AAA
   2004-A5    2004-E    B-1                           AA
   2004-A5    2004-E    B-2                           A
   2004-A5    2004-E    B-3                           BBB
   2004-A5    2004-E    B-4                           BB
   2004-A5    2004-E    B-5                           B
   2004-A6    2004-F    A-1, PO, A-X                  AAA
   2004-A6    2004-F    B-1                           AA
   2004-A6    2004-F    B-2                           A
   2004-A6    2004-F    B-3                           BBB
   2004-A7    2004-G    A-1, A-2, A-3, A-4, A-5       AAA
   2004-A7    2004-G    A-6, PO, A-X                  AAA
   2004-A7    2004-G    B-1                           AA
   2004-A7    2004-G    B-2                           A
   2004-A7    2004-G    B-3                           BBB
   2004-A7    2004-G    B-4                           BB
   2004-A7    2004-G    B-5                           B
   2004-A8    2004-H    A-1, A-2, A-3, A-4, A-5, A-6  AAA
   2004-A8    2004-H    A-7, A-8, PO, A-X             AAA
   2004-A8    2004-H    B-1                           AA
   2004-A8    2004-H    B-2                           A
   2004-A8    2004-H    B-3                           BBB
   2004-A8    2004-H    B-4                           BB
   2004-A8    2004-H    B-5                           B
   2004-A9    2004-I    A-1, A-2, A-3, A-4, A-5       AAA
   2004-A9    2004-I    A-9, A-10, PO, A-X            AAA
   2004-A9    2004-I    B-1                           AA
   2004-A9    2004-I    B-2                           A
   2004-A9    2004-I    B-3                           BBB
   2004-A9    2004-I    B-4                           BB
   2004-A9    2004-I    B-5                           B
   2004-A10   2004-J    A-1, A-2, A-3, PO, A-X        AAA
   2004-A10   2004-J    B-1                           AA
   2004-A10   2004-J    B-2                           A
   2004-A10   2004-J    B-3                           BBB
   2004-A10   2004-J    B-4                           BB
   2004-A10   2004-J    B-5                           B


SALOMON BROTHERS: Fitch Holds 'B-' Ratings on Two Cert. Classes
---------------------------------------------------------------
Fitch Ratings has affirmed three and downgraded three from the
following Salomon Brothers Mortgage Securities VII, Inc. mortgage
pass-through certificate:

Series 2002-CIT1
  -- Class A affirmed at 'AAA';
  -- Class M-1 affirmed at 'AA';
  -- Class M-2 affirmed at 'BBB+';
  -- Class M-3 downgraded to 'BB+' from 'BBB';
  -- Class M-4 downgraded to 'B-/DR1' from 'BB';
  -- Class M-5 downgraded to 'B-/DR2' from 'BB-'.

The affirmations affect approximately $32 million of the
outstanding certificates and reflect a stable relationship between
credit enhancement and expected loss.  The downgrades affect
approximately $2.2 million of the outstanding certificates and
reflect deterioration in the relationship between credit
enhancement and expected losses.

Since Fitch last took rating action on series 2002-CIT1 in April
2007, losses have generally continued to exceed excess spread and,
as a result, continue to erode the overcollateralization below
target.  As of the October 2007 remittance date, the OC is
$868,000 below the target of $1.2 million.  The OC as a percent of
the current collateral balance is 1.08% ($372,000).  The
cumulative loss as a percentage of the original collateral balance
is 3.06% and the 60+ DQ as a percentage of the current collateral
balance is 22.73%.  Losses are expected to continue to exceed
excess spread.

The collateral of the above transaction consists of fixed-rate and
adjustable-rate subprime mortgage loans secured by first and
second liens on one- to four-family residential properties.  The
mortgage loans were originated by The CIT Group/Consumer Finance,
Inc. and are serviced by Litton Loan Servicing LP, which is rated
'RPS1, Rating Watch Negative' by Fitch.

Series 2002-CIT1 has a pool factor of 14% and is seasoned 65
months.


SAN HOLDINGS: Files Chapter 7 Bankruptcy Petition in Colorado
-------------------------------------------------------------
SAN Holdings Inc. and all of its subsidiaries filed a voluntary
petition for relief under Chapter 7 of the United States
Bankruptcy Code on Nov. 26, 2007, Monday.  The bankruptcy petition
was filed in the United States Bankruptcy Court for the District
of Colorado.  Jurisdiction was assumed on the date the bankruptcy
was filed.

The bankruptcy trustee has yet to be appointed.

                      Resignation of Officers

On the effective date of the bankruptcy, Todd A. Oseth voluntarily
resigned as the chief executive officer, president and chairman of
the board of directors of the company, from any committees on
which he served and from any other positions held with the Company
or its affiliates.  The company is not aware of any matters of
disagreement concerning operations, policies or practices between
the company and Mr. Oseth causing his decision to resign.

Also, on the effective date, David I. Rosenthal voluntarily
resigned as chief financial officer, secretary and treasurer of
the company.

On the effective date, independent directors Kent J. Lund, George
Rea, and Daryl Hollis each voluntarily resigned from the company's
board of directors and from any committees on which they served.

                        Road to Bankruptcy

Sun Capital Partners II, LP, an affiliate of the majority
shareholder of SAN Holdings, informed the company on Nov. 9, 2007,
of its decision to cease funding the company, including through
the $10 million credit facility that the company maintains with
it.  In addition, the company is in default under its credit
agreements with Wells Fargo Bank, National Association and with
the company's primary supplier, Avnet Inc.

The company is exploring either a sale of the assets of the
company or filing for bankruptcy.  With respect to the former, the
company engaged an investment banker in August of 2007 to assist
the company in pursuing strategic alternatives and with respect to
the latter, the company engaged bankruptcy counsel in November of
2007.  In connection with exploring strategic alternatives, in
August of 2007, the board formed a special committee consisting of
Daryl Hollis, George Rea and Kent Lund, all independent members of
the board.

                   Letter of Default from Avnet

The company purchases more than half of its products from Avnet.
Avnet holds a security interest in all of the company's assets,
whereby all indebtedness with Avnet is secured, except for
$1,000,000.  This security interest is subordinate to the security
interest granted to Wells Fargo in connection with the company's
borrowing facility with Wells Fargo.

On Nov. 15, 2007, Avnet issued a letter of default to the company
demanding immediate payment of all past due amounts (for a total
of $1.3 million) and informing of its decision to cease selling to
the company on trade credit terms.

The company does not currently have sufficient liquidity to
satisfy Avnet's demand of payment.

As of Nov. 13, 2007, the total amount due to Avnet, including past
due and current amounts, is $2.9 million.

The company will be required to find other sources for the goods
that it purchased from Avnet, and there is no assurance that we
will be successful in finding alternative sources based on the
company's current liquidity position.

               Default in Covenants with Wells Fargo

The company has a revolving credit line with Wells Fargo to borrow
up to $12.0 million, which is secured by substantially all assets
of SANZ Inc. and Solunet Storage Inc., wholly owned subsidiaries
or indirect subsidiaries of the company.

As of Nov. 13, 2007, the company has approximately $3.0 million
outstanding on this borrowing facility.

The company's ability to borrow under the Wells Fargo facility is
subject to the amount of the company's accounts receivable
balance, as well as complying with the financial covenants under
the borrowing facility.

Financial covenants for 2007 are:

   (1) minimum net income (loss) on a year to date basis,
       calculated quarterly;

   (2) minimum net worth plus "subordinated debt" (measured in the
       aggregate, with amounts loaned to the Borrowers from San
       Holdings being defined as subordinated debt), calculated on
       a monthly basis;

   (3) minimum availability, calculated monthly;

   (4) capital expenditure limit, calculated on an annual basis;
       and

   (5) a minimum cash infusion from San Holdings or an outside
       source if the borrowers generate a net loss in a given
       quarter and have generated a net loss on a year to date
       basis at that time, in an amount equal to the lesser of the
       quarterly net loss or the year to date net loss.

If the company is unable to comply with these financial covenants,
the facility could cease to be available to the company.

As of Nov. 13, 2007, the company is in default under certain of
its covenants with Wells Fargo.

                  Delayed Filing of Quarterly Report

SAN Holdings said on Nov. 15, 2007, that it needs additional time
is required to finalize its Quarterly Report on Form 10-Q for the
quarter ended Sept. 30, 2007, and the financial statements for the
quarter ended Sept. 30, 2007, required to be included therein due
to the additional time required to finalize matters and disclosure
relating to the company's liquidity position.

                        About SAN Holdings

Dallas, Texas-based SANZ Inc. (OTC BB: SNZH) --
http://www.sanz.com/-- provides comprehensive data storage and  
management solutions to its commercial, Federal, State and local
government clients from multiple operating locations across the
United States.  SANZ is a wholly owned subsidiary of SAN Holdings
Inc.  The business operations of the companies are collectively
referred to as "SANZ".

SANZ designs and builds intelligent storage infrastructures that
enable data-driven corporations and federal, state and local
government agencies to maximize the value of their IT investments
and secure their business-critical environments.  SANZ delivers
highly effective, scalable, service-level and policy-driven
storage solutions that include product offerings from key
technology partners such as: Data Domain, Cisco, EMC, HP, Hitachi
Data Systems, Kazeon, NetApp and Qualstar.


SEQUOIA ALTERNATIVE: Moody's Cuts Rating on Class B-2 Loan to B1
----------------------------------------------------------------
Moody's Investors Service has downgraded the ratings of 2 tranches
and has placed under review for possible downgrade the rating of 1
tranche from Sequoia Alternative Loan Trust 2006-1.  The
collateral backing these classes consists of primarily first lien,
adjustable-rate, Alt-A mortgage loans.

The ratings were downgraded and placed under review for downgrade
based on higher than anticipated rates of delinquency,
foreclosure, and REO in the underlying collateral relative to
credit enhancement levels.  In its analysis Moody's has also
applied its published methodology updates to the non delinquent
portion of the transaction.

Issuer: Sequoia Alternative Loan Trust 2006-1
  -- Cl. B-1 Currently Aa3 on review for possible downgrade,
  -- Cl. B-2, Downgraded to B1, previously A3,
  -- Cl. B-3, Downgraded to Caa2, previously Baa3.


SKILLSOFT PLC: Net Income Lowers to $6 Million in Third Quarter
---------------------------------------------------------------
SkillSoft PLC reported financial results for its third fiscal
quarter of fiscal 2008.

The company reported net income of $6 million for the fiscal 2008
third quarter compared to net income of $7.1 million for the
fiscal 2007 third quarter.  

The company's net income results include restatement expenses of
$0.1 million in the third quarter of both fiscal 2008 and 2007,
well as the acquisition related expenses and non-cash charges:

   a) Acquisition and integration related expenses:
     
      -- merger related integration costs of $2.6 million in    
         the third quarter of fiscal 2008;
      -- loss from discontinued operations net of tax of
         $0.2 million in the third quarter of fiscal 2008.

   b) Non-Cash Charges:
    
      -- stock based compensation expense of $1.4 million in
         the third quarter of fiscal 2008 and $0.8 million in
         the third quarter of fiscal 2007;
      -- amortization of intangible assets of $5.4 million in
         the third quarter of fiscal 2008 and $1.2 million in
         the third quarter of fiscal 2007;
      -- amortization of deferred financing costs of
         $0.2 million in the third quarter of fiscal 2008;
      -- non-cash provision for income tax of $0.3 million in
         the third quarter of fiscal 2008 and $3.8 million in
         the third quarter of fiscal 2007.

For nine months ended Oct. 31, 2007, the company reported net
income of $25.9 million compared to a net income of $15.9 million
for the same period in the previous year.
    
SkillSoft had approximately $54.5 million in cash, cash
equivalents, short-term investments, restricted cash and long-term
investments as of Oct. 31, 2007 as compared to $127.8 million as
of Jan. 31, 2007.  

This decrease reflects cash used, net of cash acquired, of
$279 million in connection with the NETg acquisition.  This
decrease was partially offset by cash provided by operations of
$8.5 million, net borrowings under long-term debt of $194 million,
proceeds from the exercise of stock options and employee stock
purchase activity of $11.1 million and $38.8 million of net
investment maturities.

At Oct. 31, 2007, the company's balance sheet showed total assets
of $586.7 million, total liabilities of $410.1 million and total
stockholders' equity of $176.6 million.

             About  SkillSoft Public Limited Company

Based in Nashua, New Hampshire, SkillSoft Public Limited Company
(NASDAQ:SKIL) -- http://www.skillsoft.com/-- is a   
provider of e-learning and performance support solutions for
global enterprises, government, education and small- to medium-
size businesses.  SkillSoft helps companies to maximize employee
performance through a combination of content, online information
resources, flexible technologies and support services.  

                          *     *     *

As of Sept. 4, 2007, the company holds Standard & Poor's "B+"
long-term foreign and local issuer credits ratings.


SOUNDVIEW HOME: Fitch Cuts Rating on $5.2 Million Certs. to B
-------------------------------------------------------------
Fitch Ratings has taken these rating actions on Soundview Home
Equity Loan Trust asset-backed certificates.  Affirmations total
$1.23 billion and downgrades total $78.2 million.  In addition,
approximately $12.8 million is placed on Rating Watch Negative.  
Break Loss percentages and Loss Coverage Ratios for each class are
included with the rating actions as:

Soundview 2005-1
  -- $34 million class M-1 affirmed at 'AA+' (BL: 83.85, LCR:
     5.94);
  -- $25.3 million class M-2 affirmed at 'AA' (BL: 65.55, LCR:
     4.64);
  -- $22.6 million class M-3 affirmed at 'AA-' (BL: 49.04, LCR:
     3.47);
  -- $19.5 million class M-4 affirmed at 'A' (BL: 35.94, LCR:
     2.55);
  -- $12.1 million class M-5 affirmed at 'A-' (BL: 27.68, LCR:
     1.96);
  -- $10.9 million class M-6 affirmed at 'A-' (BL: 23.13, LCR:
     1.64);
  -- $10.9 million class M-7 affirmed at 'BBB+' (BL: 20.26,
     LCR: 1.43);
  -- $7 million class M-8 affirmed at 'BBB' (BL: 18.25, LCR:
     1.29);
  -- $3.2 million class M-9 rated 'BBB-', placed on Rating
     Watch Negative (BL: 15.98, LCR: 1.13);
  -- $5.3 million class B-1 downgraded to 'BB-' from 'BB+' (BL:
     12.54, LCR: 0.89).

Deal Summary
  -- Originators: (Various);
  -- 60+ day Delinquency: 28.68%;
  -- Realized Losses to date (% of Original Balance): 3.26%;
  -- Expected Remaining Losses (% of Current Balance): 14.12%;
  -- Cumulative Expected Losses (% of Original Balance): 7.71%.

Soundview 2005-2
  -- $17.4 million class A affirmed at 'AAA' (BL: 95.9, LCR:
     5.05);
  -- $30.8 million class M-1 affirmed at 'AA+' (BL: 77.39, LCR:
     4.07);
  -- $20.7 million class M-2 affirmed at 'AA' (BL: 62.22, LCR:
     3.27);
  -- $10.4 million class M-3 affirmed at 'AA-' (BL: 55.94, LCR:
     2.94);
  -- $9.6 million class M-4 affirmed at 'A+' (BL: 49.37, LCR:
     2.6);
  -- $9.1 million class M-5 affirmed at 'A' (BL: 34.21, LCR:
     1.8);
  -- $8.3 million class M-6 affirmed at 'A-' (BL: 27.88, LCR:
     1.47);
  -- $4.7 million class M-7 downgraded to 'BBB' from 'BBB+'
     (BL: 24.19, LCR: 1.27);
  -- $9.3 million class M-8 downgraded to 'BB' from 'BBB' (BL:
     18.67, LCR: 0.98);
  -- $5.2 million class M-9 downgraded to 'B+' from 'BBB-' (BL:
     16.55, LCR: 0.87);
  -- $5.2 million class B-1 downgraded to 'B' from 'BB+' (BL:
     14.25, LCR: 0.75);
  -- $5.2 million class B-2 downgraded to 'CC/DR3' from 'BB'.

Deal Summary
  -- Originators: (Various);
  -- 60+ day Delinquency: 27.55%;
  -- Realized Losses to date (% of Original Balance): 1.62%;
  -- Expected Remaining Losses (% of Current Balance): 19%;
  -- Cumulative Expected Losses (% of Original Balance): 7.04%.

Soundview 2005-4
  -- $248.3 million class A affirmed at 'AAA' (BL: 58.69, LCR:
     3.65);
  -- $26.8 million class M-1A affirmed at 'AA+' (BL: 46.75,
     LCR: 2.91);
  -- $13.4 million class M-1B affirmed at 'AA+' (BL: 46.55,
     LCR: 2.9);
  -- $32.7 million class M-2 affirmed at 'AA+' (BL: 41.25, LCR:
     2.57);
  -- $20.3 million class M-3 affirmed at 'AA' (BL: 37.13, LCR:
     2.31);
  -- $18.1 million class M-4 affirmed at 'AA-' (BL: 33.28, LCR:
     2.07);
  -- $17.2 million class M-5 affirmed at 'A+' (BL: 29.61, LCR:
     1.84);
  -- $15 million class M-6 affirmed at 'A' (BL: 26.29, LCR:
     1.64);
  -- $12.4 million class M-7 affirmed at 'A-' (BL: 23.34, LCR:
     1.45);
  -- $11.9 million class M-8 downgraded to 'BBB' from 'BBB+'
     (BL: 20.59, LCR: 1.28);
  -- $10.2 million class M-9 downgraded to 'BBB-' from 'BBB'
     (BL: 18.45, LCR: 1.15);
  -- $7.5 million class M-10 downgraded to 'BB+' from 'BBB-'
     (BL: 17.01, LCR: 1.06);
  -- $8.8 million class M-11 downgraded to 'BB' from 'BB+', and
     removed from Rating Watch Negative (BL: 15.68, LCR: 0.98).

Deal Summary
  -- Originators: (Various);
  -- 60+ day Delinquency: 22.30%;
  -- Realized Losses to date (% of Original Balance): 1.70%;
  -- Expected Remaining Losses (% of Current Balance): 16.06%;
  -- Cumulative Expected Losses (% of Original Balance):
     11.38%.

Soundview 2005-DO1
  -- $53.8 million class A affirmed at 'AAA' (BL: 81.21, LCR:
     6.4);
  -- $21.7 million class M-1 affirmed at 'AA+' (BL: 68.87, LCR:
     5.43);
  -- $18.2 million class M-2 affirmed at 'AA+' (BL: 58.54, LCR:
     4.61);
  -- $11.4 million class M-3 affirmed at 'AA' (BL: 52.01, LCR:
     4.1);
  -- $10.5 million class M-4 affirmed at 'AA-' (BL: 44.37, LCR:
     3.5);
  -- $9.5 million class M-5 affirmed at 'A+' (BL: 27.58, LCR:
     2.17);
  -- $9.2 million class M-6 affirmed at 'A' (BL: 24.42, LCR:
     1.93);
  -- $7.7 million class M-7 affirmed at 'A-' (BL: 21.89, LCR:
     1.73);
  -- $5.9 million class M-8 affirmed at 'BBB+' (BL: 20, LCR:
     1.58);
  -- $6.2 million class M-9 affirmed at 'BBB' (BL: 17.92, LCR:
     1.41);
  -- $6.2 million class M-10 affirmed at 'BB+' (BL: 15.86, LCR:
     1.25);
  -- $6.2 million class M-11 rated 'BB', placed on Rating Watch
     Negative (BL: 13.87, LCR: 1.09);
  -- $3.4 million class B-1 rated 'BB-', placed on Rating Watch
     Negative (BL: 13.01, LCR: 1.03);
  -- $4.9 million class B-2 downgraded to 'CCC/DR1' from 'B+'.

Deal Summary
  -- Originators: (Decision One);
  -- 60+ day Delinquency: 26.60%;
  -- Realized Losses to date (% of Original Balance): 0.99%;
  -- Expected Remaining Losses (% of Current Balance): 12.68%;
  -- Cumulative Expected Losses (% of Original Balance): 4.63%.

Soundview 2005-OPT1
  -- $192 million class A affirmed at 'AAA' (BL: 63.73, LCR:
     9.32);
  -- $37.5 million class M-1 affirmed at 'AAA' (BL: 53.33, LCR:
     7.79);
  -- $66 million class M-2 affirmed at 'AA+' (BL: 37.85, LCR:
     5.53);
  -- $27.8 million class M-3 affirmed at 'AA' (BL: 27.83, LCR:
     4.07);
  -- $17.3 million class M-4 affirmed at 'AA-' (BL: 16.69, LCR:
     2.44);
  -- $17.3 million class M-5 affirmed at 'A+' (BL: 14.64, LCR:
     2.14);
  -- $22.5 million class M-6 affirmed at 'A' (BL: 11.93, LCR:
     1.74);
  -- $11.3 million class M-7 affirmed at 'A-' (BL: 10.54, LCR:
     1.54);
  -- $15 million class M-8 affirmed at 'BBB+' (BL: 8.93, LCR:
     1.31);
  -- $7.5 million class M-9 affirmed at 'BBB' (BL: 8.63, LCR:
     1.26);
  -- $7.5 million class M-10 affirmed at 'BBB-' (BL: 8.62, LCR:
     1.26).

Deal Summary
  -- Originators: (Option One);
  -- 60+ day Delinquency: 24.44%;
  -- Realized Losses to date (% of Original Balance): 0.49%;
  -- Expected Remaining Losses (% of Current Balance): 6.84%;
  -- Cumulative Expected Losses (% of Original Balance): 2.45%.

The rating actions are based on changes that Fitch has made to its
subprime loss forecasting assumptions.  The updated assumptions
better capture the deteriorating performance of pools from 2006
and late 2005 with regard to continued poor loan performance and
home price weakness.


SOUNDVIEW HOME: High Delinqeuncy Cues Moody's to Cut Ratings
------------------------------------------------------------
Moody's Investors Service has downgraded the ratings of 4 tranches
from Soundview Home Loan Trust 2006-WF1.  The collateral backing
these classes consists of primarily first lien, fixed and
adjustable-rate, Alt-A mortgage loans.  

The ratings were downgraded based on higher than anticipated rates
of delinquency, foreclosure, and REO in the underlying collateral
relative to credit enhancement levels.  In its analysis Moody's
has also applied its published methodology updates to the non
delinquent portion of the transaction.

Issuer: Soundview Home Loan Trust 2006-WF1

  -- Cl. M-7, Downgraded to Baa2, previously Baa1,
  -- Cl. M-8, Downgraded to Baa3, previously Baa2,
  -- Cl. M-9, Downgraded to Ba1, previously Baa3,
  -- Cl. M-10, Downgraded to Ba2, previously Ba1.


STAGE DOOR: Case Summary & 12 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Stage Door Development, Inc.
        dba WRJM-FM
        285 East Broad Street
        Ozark, AL 36360

Bankruptcy Case No.: 07-11638

Chapter 11 Petition Date: November 26, 2007

Court: Middle District of Alabama (Dothan)

Debtor's Counsel: Collier H. Espy, Jr., Esq.
                  Espy, Metcalf & Espy, P.C.
                  P.O. Drawer 6504
                  Dothan, AL 36302-6504
                  Tel: (334) 793-6288
                  Fax: (334) 712-1617

Estimated Assets: $1 Million to $100 Million

Estimated Debts:  $1 Million to $100 Million

Debtor's list of its 12 Largest Unsecured Creditors:

   Entity                        Nature of Claim     Claim Amount
   ------                        ---------------     ------------
Internal Revenue Service         941 Taxes                 $7,450
801 Tom Martin Drive             Jan. 11, 2007
Suite 126
Birmingham, AL 35211             940 & 941 Taxes           $7,256
                                 Nov. 28, 2005

                                 941 Taxes                $19,217
                                 June 30, 2005

                                 940 & 941 Taxes          $71,891
                                 Dec. 7, 2004

                                 Payroll Taxes           $190,000

Arbitron Inc.                    NY Summary Judgment     $260,000
142 57th Street
New York, NY 10019

Ascap Joel Music                 Summary Judgment        $100,000
c/o Bradly Arant
1819 5th Avenue North
Birmingham, AL 35203-2119

Bradley Arant                    Attorney fees            $65,000

Alabama Dept. of Revenue         Withholding Taxes         $4,189
                                 May 16, 2005

                                 Withholding Taxes         $2,778
                                 March 11, 2005

                                 Withholding Taxes         $1,633
                                 Sept. 12, 2005

                                 Withholding Taxes         $1,434
                                 Oct. 31, 2005

                                 Payroll Taxes            $31,000

Ascap Simpleville Music          Summary Judgment         $48,000

Wiregrass Electric Coop.         Utility Service          $18,000

Conner Vernon Jerome Jackson     Judgment                 $15,354

Ross Tower Co., Inc.             Lighting Services        $10,065

Edith Windham                    Tower Site Lease          $4,500

R&R                                                        $1,750

Fuellgraf Chimney & Tower Inc.                             $1,041


STRUCTURED ADJUSTABLE: Moody's Cuts Rating on Class B6-I to B1
--------------------------------------------------------------
Moody's Investors Service has downgraded the ratings of 4 tranches
from Structured Adjustable Rate Mortgage Loan Trust 2005-21.  The
collateral backing these classes consists of primarily first lien,
adjustable-rate, Alt-A mortgage loans.

The ratings were downgraded based on higher than anticipated rates
of delinquency, foreclosure, and REO in the underlying collateral
relative to credit enhancement levels.  In its analysis Moody's
has also applied its published methodology updates to the non
delinquent portion of the transaction.

Issuer: Structured Adjustable Rate Mortgage Loan Trust 2005-21
  -- Cl. B3-I, Downgraded to A3, previously A2,
  -- Cl. B4-I, Downgraded to Baa2, previously A3,
  -- Cl. B5-I, Downgraded to Ba1, previously Baa2,
  -- Cl. B6-I, Downgraded to B1, previously Baa3.


STRUCTURED ASSET: S&P Assigns Default Rating on Class B2 Certs.
---------------------------------------------------------------
Standard & Poor's Ratings Services lowered its ratings on seven
classes of pass-through certificates from Structured Asset
Securities Corp.'s series 2003-BC2, 2003-BC3, and 2004-SC1
and removed four of the lowered ratings from CreditWatch with
negative implications.  At the same time, S&P placed one rating
from series 2002-HF1 on CreditWatch with negative implications,
and three ratings from series 2002-HF2 and 2003-BC2 remain on
CreditWatch negative.  Lastly, S&P affirmed its ratings on 57
classes from 13 series.
     
The downgrades reflect collateral performance that has eroded
available credit support during recent months.  As of the October
2007 remittance period, cumulative losses ranged from 1.26%
(series 2004-SC1) to 7.0% (series 2003-BC2) of the original
principal balances. Serious delinquencies (90-plus days,
foreclosures, and REOs) ranged from 7.95% (series 2004-SC1) to
23.66% (series 2003-BC3) of the current principal balances.
     
S&P placed its rating on class M3 from series 2002-HF1 on
CreditWatch negative because realized losses are eroding
overcollateralization.  S&P removed its ratings on classes B, B1,
and B5 from series 2003-BC2 and 2004-SC1, respectively, from
CreditWatch negative because S&P lowered the ratings to 'CCC'.  
According to Standard & Poor's surveillance practices, ratings
lower than 'B-' on classes of certificates or notes from RMBS
transactions are not eligible to be on CreditWatch negative.
     
Standard & Poor's will continue to closely monitor the performance
of the transactions with ratings on CreditWatch.  If monthly
losses decline to a point at which they no longer outpace monthly
excess interest and the level of O/C has not been further eroded,
S&P will affirm the ratings and remove them from CreditWatch.  
Conversely, if losses continue to outpace excess interest and O/C
levels continue to decline, S&P will take further negative rating
actions.
     
The affirmations reflect stable collateral performance as of the
October 2007 remittance period.  Current and projected credit
support percentages are sufficient to support the ratings at their
current levels.
     
O/C, excess spread, and subordination provide credit enhancement
for these transactions, with the exception of series 2004-SC1,
which has subordination only.
     
At issuance, the collateral backing these Structured Asset
Securities Corp. series consisted of subprime, fixed- and
adjustable-rate, fully amortizing first-lien mortgage loans
secured by one- to four-family residential properties.


                        Ratings Lowered

               Structured Asset Securities Corp.

                                           Rating
                                           ------
      Series       Class             To               From
      ------       -----             --               ----
      2003-BC2      B2               D                CCC
      2003-BC3      M4               BB               BBB
      2004-SC1      B4               B                BB

     Ratings Lowered and Removed from Creditwatch Negative

               Structured Asset Securities Corp.

                                          Rating
                                          ------
      Series        Class            To         From
      ------        -----            --         ----
      2003-BC3      M5               B          BBB-/Watch Neg
      2003-BC3      B                CCC        B/Watch Neg
      2003-BC2      B1               CCC        B/Watch Neg
      2004-SC1      B5               CCC        B/Watch Neg

             Rating Placed on Creditwatch Negative

                Structured Asset Securities Corp.

                                           Rating
                                           ------
      Series        Class            To               From
      ------        -----            --               ----
      2002-HF1      M3               BBB/Neg Watch    BBB        

           Ratings Remaining on Creditwatch Negative

                Structured Asset Securities Corp.

               Series        Class         Rating
               ------        -----         ------
               2002-HF2      B1            BBB-/Watch Neg
               2003-BC2      M3            BBB+/Watch Neg
               2003-BC2      M4            BB/Watch Neg

                       Ratings Affirmed

                Structured Asset Securities Corp.

          Series        Class                   Rating
          ------        -----                   ------
          1998-2        A                       AAA
          1998-2        M-1                     AA   
          1998-6        B-1                     AA
          1998-6        B-2                     A
          1998-8        A-3                     AAA
          1998-8        M-1                     AA
          1998-8        M-2                     A
          1999-SP1      A1, A2                  AAA
          1999-SP1      M1                      AA+
          1999-SP1      M2                      A
          1999-SP1      B                       BBB
          2002-HF1      A                       AAA
          2002-HF1      M1                      AA
          2002-HF1      M2                      A
          2002-HF2      M1                      AA
          2002-HF2      M2                      A
          2002-HF2      M3                      BBB     
          2003-AM1      M1                      AA
          2003-AM1      M2                      A
          2003-AM1      M3                      A-
          2003-AM1      B2                      BB+     
          2003-BC2      M1                      AA
          2003-BC2      M2                      A
          2003-BC3      M1                      AA
          2003-BC3      M2                      A
          2003-BC3      M3                      A-
          2003-39EX     M2                      A
          2003-39EX     M3                      BBB
          2003-39EX     B                       BBB-
          2004-16XS     A2, A3A, A3B, A4A, A4B  AAA
          2004-16XS     M1                      AA+
          2004-16XS     M2                      AA-
          2004-16XS     M3                      BBB-
          2004-19XS     A2, A3A, A3C, A4        AAA
          2004-19XS     A3B, A5, A6B, A6C, A6A  AAA
          2004-19XS     M1                      AA
          2004-19XS     M2                      A
          2004-19XS     M3                      BBB
          2004-SC1      A                       AAA
          2004-SC1      B1                      AA
          2004-SC1      B2                      A
          2004-SC1      B3                      BBB


SUNTRUST ALTERNATIVE: Moody's Junks Rating on Class B-3 Loans
-------------------------------------------------------------
Moody's Investors Service has downgraded the ratings of 2 tranches
and has placed under review for possible downgrade the ratings of
7 tranches from SunTrust Alternative Loan Trust 2006-1F.  The
collateral backing these classes consists of primarily first lien,
fixed-rate, Alt-A mortgage loans.

The ratings were downgraded and placed under review for downgrade
based on higher than anticipated rates of delinquency,
foreclosure, and REO in the underlying collateral relative to
credit enhancement levels.  In its analysis Moody's has also
applied its published methodology updates to the non delinquent
portion of the transaction.

Issuer: SunTrust Alternative Loan Trust 2006-1F

  -- Cl. I-A-1 Currently Aaa on review for possible downgrade,
  -- Cl. I-A-2 Currently Aaa on review for possible downgrade,
  -- Cl. I-A-3 Currently Aaa on review for possible downgrade,
  -- Cl. I-A-4 Currently Aaa on review for possible downgrade,
  -- Cl. II-A Currently Aaa on review for possible downgrade,
  -- Cl. III-A Currently Aaa on review for possible downgrade,
  -- Cl. B-1 Currently Aa2 on review for possible downgrade,
  -- Cl. B-2, Downgraded to B1, previously A2,
  -- Cl. B-3, Downgraded to Caa3, previously Baa2.


TERWIN MORTGAGE: Fitch Downgrades Ratings on $9.4 Million Certs.
----------------------------------------------------------------
Fitch Ratings has taken these rating actions on Terwin Mortgage
Trust asset-backed certificates.  Affirmations total
$132.7 million and downgrades total $9.4 million.  Break Loss
percentages and Loss Coverage Ratios for each class, rated B or
higher, is included with the rating actions as:

Terwin 2005-5SL
  -- $19.8 million class M-1a affirmed at 'AA' (BL: 94.91, LCR:
     3.16);
  -- $3.2 million class M-1b affirmed at 'AA' (BL: 93.20, LCR:
     3.1);
  -- $30.9 million class M-2 affirmed at 'A' (BL: 72.86, LCR:
     2.43);
  -- $19.5 million class M-3 affirmed at 'A-' (BL: 59.88, LCR:
     1.99);
  -- $19.5 million class B-1 affirmed at 'BBB+' (BL: 47.09,
     LCR: 1.57);
  -- $19.7 million class B-2 affirmed at 'BBB-' (BL: 33.49,
     LCR: 1.11);
  -- $9.4 million class B-3 downgraded to 'B' from 'BB+' (BL:
     26.90, LCR: 0.9);
  -- $19.7 million class B-4 revised to 'C/DR6' from 'C/DR5';
  -- $555,647 class B-5 remains at 'C/DR6'.

Deal Summary
  -- Originators: (Various);
  -- 60+ day Delinquency: 12.62%;
  -- Realized Losses to date (% of Original Balance): 5.56%;
  -- Expected Remaining Losses (% of Current Balance): 30.04%;
  -- Cumulative Expected Losses (% of Original Balance):
     12.14%.

The rating actions are based on changes that Fitch has made to its
subprime loss forecasting assumptions.  The updated assumptions
better capture the deteriorating performance of pools from 2006
and late 2005 with regard to continued poor loan performance and
home price weakness.  Minimum LCRs specifically for subprime
second lien transactions are as follows: 'AAA': 2.00; 'AA': 1.75;
'A': 1.50; 'BBB': 1.20; 'BB': 0.95; 'B': 0.75.


TESORO CORP: Rights Plan Raises Concern from Tracinda Corp.
-----------------------------------------------------------
Tracinda Corporation stated that the adoption of a rights plan by
the board of directors of Tesoro Corporation has resulted in a
failure of a condition to Tracinda's tender offer for shares of
Tesoro common stock.

On Nov. 21, 2007, Tesoro's board has unanimously adopted a
Stockholder Rights Plan.  The rights plan is designed to reduce
the likelihood that a potential acquirer would gain control of
Tesoro by open market accumulation or other coercive takeover
tactics without paying a premium for all of the company's shares.  
To implement the plan, Tesoro's board declared that each
stockholder of record on Dec. 3, 2007, will receive a dividend of
one right for each outstanding share of Common Stock held.

The change in Tesoro's capitalization resulting from the rights
plan, including, the potential dilutive effect thereof, negatively
impacts all Tesoro stockholders, including Tracinda.

Among other things, the rights plan significantly limits
opportunities to enhance stockholder value and restricts the
ability of Tesoro stockholders to freely vote or sell their
shares.  As a result, in Tracinda's judgment, the rights plan has
a material adverse effect on the value of the Tesoro common stock
and is materially adverse to all Tesoro stockholders. Accordingly,
Tracinda is weighing its alternatives with respect to its pending
cash tender offer.

Tracinda's cash tender offer at $64 per share for up to 21,875,000
shares of Tesoro common stock, or approximately 16% of the shares
outstanding, commenced on Nov. 7, 2007, and is scheduled to expire
at 11:59 p.m. ET on Dec. 6, 2007.

There can be no assurance as to what actions Tracinda will or will
not take with respect to its tender offer in light of the adoption
of the announced rights plan by the Tesoro board of directors.

                       About Tesoro Corp.

Headquartered in San Antonio, Texas, Tesoro Corporation (NYSE:
TSO) -- http://www.tsocorp.com/-- is an independent refiner and  
marketer of petroleum products.  Tesoro, through its subsidiaries,
operates seven refineries in the western United States with a
combined capacity of approximately 660,000 barrels per day.  
Tesoro's retail-marketing system includes over 890 branded retail
stations, of which over 450 are company operated under the
Tesoro(R), Shell(R), Mirastar(R) and USA(R) brands.  The company
dislosed on Nov. 8, 2004, the change of the company's name from
Tesoro Petroleum Corp. to Tesoro Corporation, effective
immediately.

                          *     *     *

As reported in the Troubled Company Reporter on Oct. 30, 2007,
Moody's changed its outlook on Tesoro Corporation's ratings (Ba1
corporate family rating, Ba1 senior unsecured notes rating, and
Baa1 senior secured credit facility rating) to developing from
positive following Tracinda Corporation's announcement that it is
making a cash tender offer for an additional 16% of TSO's
outstanding common stock at approximately a 12% premium from the
prior closing price.


TRADEX SWISS AG: Chapter 15 Petition Summary
--------------------------------------------
Petitioner: Peter Lutz
            Romeo Da Rugna
            Norma Ceriani
            c/o Evan Fray-Witzer, Esq.
            20 Park Plaza, Suite 804
            Boston, Ma 02116
            Tel: (617) 723-5630

Debtor: Tradex Swiss A.G.
        c/o Wuersch & Gering, L.L.P.
        100 Wall Street, 21st Floor
        New York, NY 02116
        Tel: (212) 509-5050
        aka Tradex Handel & Beratungs A.G.
        aka Tradex Group, L.L.C.
        aka F.X. Play
        aka F.X. Nation

Case No.: 07-17518

Type of Business: The Debtor is a Boston, Massachusetts-based
                  foreign exchange trading shop whose registered
                  office is in Firststrasse 15, 8835 Feusisberg,
                  Zurich, Switzerland.  
                  See http://www.tradexfx.com/

                  On November 1, 2007, the Swiss Federal Banking
                  Commission decreed that the unauthorized
                  acceptance of investment funds from the public
                  on a professional basis, the advertising of such
                  acceptance to the public and the unofficial and
                  unauthorized use of the term "bank" by the
                  Debtor and also by Swiss Garant A.G. was all
                  established to be in violation of the Federal
                  Law on Banks and Savings Banks.  The Commission
                  also decreed that bankruptcy proceedings be
                  instituted against the Debtor and Swiss Garant
                  in November 2, 2007.

Chapter 15 Petition Date: November 26, 2007

Court: District of Massachusetts (Boston)

Petitioner's Counsel: Evan Fray-Witzer, Esq.
                      20 Park Plaza, Suite 804
                      Boston, Ma 02116
                      Tel: (617) 723-5630

Estimated Assets: $1 Million to $100 Million

Estimated Debts:  $1 Million to $100 Million


TRANSOCEAN INC: UK Regulators Clear Way for GlobalSantaFe Merger
----------------------------------------------------------------
The Office of Fair Trading for the United Kingdom disclosed that,
subject to satisfactory undertakings from the parties, it has
decided not to refer the proposed merger of Transocean Inc. and
GlobalSantaFe Corporation to the U.K. Competition Commission for
further investigation.  Instead, the OFT considers that the
undertakings offered by the parties to divest the GlobalSantaFe
floaters that would be working in the U.K. sector of the North Sea
absent the merger will remedy the possible antitrust concerns
identified in the course of its first stage review.  The parties'
offer of divestiture includes the GSF Arctic II and the GSF Arctic
IV but does not include any jackup rigs.  A third GlobalSantaFe
floater presently working in the North Sea, the GSF Arctic III, is
expected to leave the North Sea upon completion of its current
contract, and on that basis was not included in the parties'
offer.

On Nov. 20, 2007, Transocean and GlobalSantaFe received approval
from the Grand Court of the Cayman Islands of the proposed merger
of GlobalSantaFe with a wholly owned subsidiary of Transocean and
related transactions.

                       About GlobalSantaFe

GlobalSantaFe Corp. -- http://www.globalsantafe.com/-- is an  
offshore oil and gas drilling contractors and provider of drilling
management services worldwide.  The company owns or operates a
contract drilling fleet of 37 premium jackup rigs; six heavy-duty,
harsh environment jackups; 11 semisubmersibles and three
dynamically positioned, ultra-deepwater drillships, as well as two
semisubmersibles owned by third parties and operated under a joint
venture agreement.

                        About Transocean

Headquartered in Houston, Texas, Transocean Inc. (NYSE: RIG) --
http://www.deepwater.com/-- is an offshore drilling contractor  
with a fleet of 81 mobile offshore drilling units.  The company's
mobile offshore drilling fleet consist of high-specification
deepwater and harsh environment drilling units.

                          *     *     *

Moody's Investors Service recently downgraded the senior unsecured
ratings for Transocean Inc. to Baa2 from Baa1 in conjunction with
the pending merger with GlobalSantaFe.  Moody's also downgraded
GSF's senior unsecured ratings to Baa2 from Baa1 as Transocean
will be assuming the debt for GSF.  This concludes the ratings
review for both Transocean and GlobalSantaFe.  The outlook is
stable.

The ratings being downgraded for Transocean are: the senior
unsecured shelf rating to (P)Baa2 from (P)Baa1, the subordinated
shelf rating to (P)Baa3 from (P)Baa2, and the preferred shelf
rating to (P)Ba1 from (P)Baa3.  The ratings for GSF also being
downgraded are: the senior unsecured shelf rating to (P)Baa2 from
(P)Baa1, the subordinated shelf rating to (P)Baa3 from (P)Baa2,
and the preferred shelf rating to (P)Ba1 from (P)Baa3.  The
shelf ratings for GSF will be withdrawn upon closing of the
merger.


UBS MASTR: Fitch Cuts Rating on $3.4MM Class M-10 Certs. to BB
--------------------------------------------------------------
Fitch Ratings has taken these rating actions on UBS MASTR Asset
Backed Securities mortgage pass-through certificates. Affirmations
total $1.03 billion and downgrades total $3.4 million.  In
addition, approximately $54.8 million is placed on Rating Watch
Negative.  Break Loss percentages and Loss Coverage Ratios for
each class are included with the rating actions as:

Series 2005-NC1
  -- $48.9 million class M-1 affirmed at 'AA+' (BL: 79.59, LCR:
     6.61);
  -- $41.1 million class M-2 affirmed at 'AA' (BL: 47.11, LCR:
     3.91);
  -- $16.6 million class M-3 affirmed at 'AA-' (BL: 40.28, LCR:
     3.35);
  -- $16.6 million class M-4 affirmed at 'A+' (BL: 30.40, LCR:
     2.53);
  -- $17.1 million class M-5 affirmed at 'A' (BL: 22.38, LCR:
     1.86);
  -- $13.7 million class M-6 affirmed at 'A-' (BL: 19.58, LCR:
     1.63);
  -- $11.2 million class M-7 affirmed at 'BBB+' (BL: 17.22,
     LCR: 1.43);
  -- $9.8 million class M-8 affirmed at 'BBB' (BL: 15.24, LCR:
     1.27);
  -- $11.2 million class M-9 rated 'BBB-', placed on Rating
     Watch Negative (BL: 13.14, LCR: 1.09);
  -- $3.4 million class M-10 downgraded to 'BB' from 'BBB-'
     (BL: 12.72, LCR: 1.06).

Deal Summary
  -- Originators: New Century (100%);
  -- 60+ day Delinquency: 29.61%;
  -- Realized Losses to date (% of Original Balance): 0.73%;
  -- Expected Remaining Losses (% of Current Balance): 12.04%;
  -- Cumulative Expected Losses (% of Original Balance): 3.31%.

Series 2005-NC2
  -- $368.1 million class A affirmed at 'AAA' (BL: 43.33, LCR:
     3.69);
  -- $31.1 million class M-1 affirmed at 'AA+' (BL: 37.65, LCR:
     3.21);
  -- $27.9 million class M-2 affirmed at 'AA+' (BL: 32.53, LCR:
     2.77);
  -- $19.4 million class M-3 affirmed at 'AA+' (BL: 28.25, LCR:
     2.41);
  -- $13.9 million class M-4 affirmed at 'AA' (BL: 25.87, LCR:
     2.20);
  -- $13 million class M-5 affirmed at 'AA-' (BL: 23.51, LCR:
     2.00);
  -- $12.1 million class M-6 affirmed at 'A+' (BL: 21.20, LCR:
     1.81);
  -- $11.7 million class M-7 affirmed at 'A-' (BL: 18.85, LCR:
     1.61);
  -- $8.5 million class M-8 affirmed at 'BBB+' (BL: 17.12, LCR:
     1.46);
  -- $9 million class M-9 affirmed at 'BBB' (BL: 15.31, LCR:
     1.30);
  -- $6.3 million class M-10 rated 'BBB', remains on Rating
     Watch Negative (BL: 14.13, LCR: 1.20);
  -- $6.7 million class M-11 rated 'BBB-', remains on Rating
     Watch Negative (BL: 12.99, LCR: 1.11).

Deal Summary
  -- Originators: New Century (100%);
  -- 60+ day Delinquency: 24.08%;
  -- Realized Losses to date (% of Original Balance): 0.24%;
  -- Expected Remaining Losses (% of Current Balance): 11.74%;
  -- Cumulative Expected Losses (% of Original Balance): 7.38%.

Series 2005-OPT1
  -- $136.8 million class A affirmed at 'AAA' (BL: 70.96, LCR:
     10.81);
  -- $46.4 million class M-1 affirmed at 'AA+' (BL: 58.21, LCR:
     8.87);
  -- $37.6 million class M-2 affirmed at 'AA+' (BL: 48.5, LCR:
     7.39);
  -- $24.8 million class M-3 affirmed at 'AA+' (BL: 42.08, LCR:
     6.41);
  -- $39.2 million class M-4 affirmed at 'AA' (BL: 17.01, LCR:
     2.59);
  -- $13.6 million class M-5 affirmed at 'AA-' (BL: 15.38, LCR:
     2.34);
  -- $15.2 million class M-6 affirmed at 'A+' (BL: 13.56, LCR:
     2.07);
  -- $18.4 million class M-7 affirmed at 'A' (BL: 11.41, LCR:
     1.74);
  -- $14.4 million class M-8 affirmed at 'A-' (BL: 9.66, LCR:
     1.47);
  -- $15.2 million class M-9 rated 'BBB+', placed on Rating
     Watch Negative (BL: 8.06, LCR: 1.23);
  -- $8 million class M-10 rated 'BBB', placed on Rating Watch
     Negative (BL: 7.75, LCR: 1.18);
  -- $7.2 million class M-11 rated 'BBB-', placed on Rating
     Watch Negative (BL: 7.73, LCR: 1.18).

Deal Summary
  -- Originators: Option One (100%);
  -- 60+ day Delinquency: 26.44%;
  -- Realized Losses to date (% of Original Balance): 0.51%;
  -- Expected Remaining Losses (% of Current Balance): 6.56%;
  -- Cumulative Expected Losses (% of Original Balance): 2.10%.


WAMU COMMERCIAL: Fitch Affirms 'B-' Rating on $639,000 Certs.
-------------------------------------------------------------
Fitch Ratings has affirmed WaMu Commercial Mortgage Securities
Trust series 2006-SL1, commercial mortgage pass-through
certificates, as:

  -- Interest-only class X at 'AAA';
  -- $79.8 million class A at 'AAA';
  -- $354.3 million class A-1A at 'AAA';
  -- $10.2 million class B at 'AA';
  -- $14.7 million class C at 'A';
  -- $10.2 million class D at 'BBB+';
  -- $7.0 million class E at 'BBB';
  -- $3.8 million class F at 'BBB-';
  -- $7.7 million class G at 'BB+';
  -- $2.6 million class H at 'BB';
  -- $2.6 million class J at 'BB-';
  -- $1.9 million class K at 'B+';
  -- $1.9 million class L at 'B';
  -- $639,000 class M at 'B-'.

The $9.6 million class N is not rated by Fitch.

The rating affirmations reflect stable performance and limited
amortization since issuance.  As of the October 2007 distribution
date, the transaction has paid down 0.9% to $506.9 million from
$511.4 at issuance.  The transaction remains diverse, with the top
three and top 10 largest loans in the pool by balance representing
4.9% and 12.1%, respectively.

There are currently two loans (0.6%) in special servicing.  The
largest specially serviced loan (0.4%) is an industrial/warehouse
facility located in Brooklyn, New York.  The loan is 90 days
delinquent and the special servicer is currently pursuing
foreclosure.

The remaining specially serviced loan (0.2%) is a retail property
located in Bronx, New York.  The loan is 90 days delinquent and is
also delinquent on taxes.  The special servicer is pursuing
foreclosure and appointment of a receiver at the property.

Fitch has identified six loans (2.7%) as Fitch loans of concern
for declines in performance, of the six, two are currently
specially serviced.  Fitch will continue to closely monitor these
loans for any further declines in performance.


WETCO RESTAURANT: Court OKs Sale of 20 Locations for $5.5 Million
-----------------------------------------------------------------
WETCO Restaurant Group LLC obtained authority from the U.S.
Bankruptcy Court for the Western District of Louisiana to sell
20 of its restaurant locations for $5.5 million in cash, Bill
Rochelle of Bloomberg News reports.

The sale consideration also comes along with a a credit bid
of $5 million in debt for the franchiser and sole bidder, Church's
Fried Chicken Inc., Bloomberg News adds.

Headquartered in Baton Rouge, Louisiana, WETCO Restaurant Group
LLC -- http://www.wetcorestaurantgroup.com/-- operates Quick-
Service Restaurants.  The company owns and operates 34 Church's
Chicken restaurants: three in Chattanooga, Tennessee, and 31 in
Louisiana.  The company filed for chapter 11 protection on
Sept. 28, 2007 (Bankr. W.D. La. Case No. 07-51169).  The Debtor
selected the Law Offices of Tom St. Germain LLC as its bankruptcy
counsel.  When the Debtor filed for bankruptcy, it listed total
assets of $3,761,051 and total debts of $15,308,635.


WOLVERINE TUBE: To Halt Decatur and Booneville Plumbing Operations
------------------------------------------------------------------
Wolverine Tube Inc. will discontinue its U.S. plumbing tube
business and will close manufacturing facilities located in
Decatur, Alabama and Booneville, Mississippi.  U.S. plumbing tube
sales were made through distributor channels.

The actions are in line with Wolverine's strategy of focusing
resources on the development and sale of high performance tubular
products, fabricated tube assemblies and metal joining products
that promote energy efficient heat transfer technology to an
expanding market and global OEM customers.

"The Decatur and Booneville operations primarily serve the U.S.
copper plumbing tube and smooth industrial tube markets," Harold
M. Karp, president and chief operating officer, stated. "Demand
for copper plumbing tube has significantly declined over the last
several years as a result of the substitution of plastic tube in
residential construction.  This trend is reinforced by high copper
prices."

"Additionally, the smooth industrial tube market is rapidly
transitioning to a commodity market and the Decatur/Booneville
cost structure is not competitive in either the plumbing or smooth
tube markets," Mr. Karp added.  "Wolverine's smooth tube
requirements will be satisfied by a combination of production from
other Wolverine locations and outsourcing."

The company estimated an impairment and restructuring charge of
approximately $72 million in connection with the closure of the
Decatur and Booneville manufacturing facilities and cessation of
those operations.  Approximately $56 million of the impairment and
restructuring charge will be a non-cash reduction of the carrying
value of certain assets.

Additionally, $16 million will be for cash charges related to
severance, other employee related costs, plant closure and
environmental expenses, of which $10 million is expected to be
incurred in 2008 and the balance over the next 5 years.  The
Decatur and Booneville manufacturing operations have 440 full time
and 50 temporary employees.

The company anticipated that discontinuing its U.S. plumbing tube
business and plant closings will generate approximately $26
million in cash from the realization of net working capital after
cash costs to be incurred in 2008 for related severance and
shutdown costs.

Additionally, the company will eliminate approximately 40% of its
corporate, general and administrative positions totaling
approximately 40 employees.  These positions will be eliminated in
part due to the Decatur and Booneville closures and the company's
strategic focus on value-added tubular product sales to global OEM
customers.  The company estimated $1 million in severance costs
will be accrued in the current quarter related to the elimination
of these positions.

                    About Wolverine Tube Inc.

Headquartered in Huntsville, Alabama, Wolverine Tube Inc.
(OTC:WLVT) -- http://www.wlv.com/ and http://www.silvaloy.com/
manufactures and distributes copper and copper alloy tubular
products, fabricated and metal joining products, well as rod and
bar products.  The company focuses on developing and manufacturing
tubular products with heat transfer capabilities used in
engineered applications.  The company's major customers'
headquarters are in North America and include commercial and
residential air conditioning and refrigeration equipment
manufacturers, appliance manufacturers, industrial equipment
manufacturers, utilities and other power generating companies,
refining and chemical processing companies, and plumbing
wholesalers.  Wolverine classifies products as commercial
products, wholesale products, and rod, bar and other products.

                          *     *     *

As reported in the Troubled Company Reporter on Nov. 22, 2007,
Moody's Investors Service confirmed Wolverine Tube's Caa2
corporate family rating, Caa2 probability of default rating, and
Caa3 senior unsecured rating (LGD4, 63%).  The rating outlook was
revised to negative from ratings under review.  


* Continued Poor Credit Leads Fitch to Initiate Formal Review
-------------------------------------------------------------
Continued credit deterioration with respect to underlying
collateral has led Fitch to initiate a formal review of
collateralized debt obligations backed all or in part by trust
preferred securities issued by real estate investment trusts,
homebuilders and financial institutions specializing in
residential mortgage lending.  As a result, Fitch has placed $5.4
billion of rated liabilities, across 120 classes of 15 TruPS CDOs,
on Rating Watch Negative.  With respect to five of the 15
transactions affected, Fitch has placed the entire capital
structure on Rating Watch Negative.  Fitch's rating actions follow
those undertaken in September and August of this year, which
reflected credit deterioration experienced up to that point in
time with respect to underlying collateral.  A complete list of
transactions and classes placed on Rating Watch Negative is listed
at the end of this rating action commentary.

Fitch's rating actions reflect continued deterioration in the
credit quality of underlying issuers of trust preferred securities
and subordinated debt.  In particular, the credit profiles of many
homebuilders, mortgage REITs and specialty finance companies
continue to decline.  Fitch currently maintains a Negative Rating
Outlook on the homebuilder, residential and commercial mortgage
REIT sectors.  The challenges facings these sectors are expected
to be even more pronounced with respect to the smaller-sized,
shadow-rated entities which typically characterize REIT TruPS CDO
portfolios.

Based on public and shadow ratings performed by Fitch, it is
estimated that an average of 22.9% of the portfolios underlying
the 15 CDOs are currently rated 'CCC+' or below, ranging between
6.6% and 45.8%.  Since Fitch's last review of REIT TruPS CDOs in
September, six underlying issuers representing a total exposure of
$524.5 million have been identified by Fitch as exhibiting
heightened credit risk, having either experienced a default or
deferral on issued securities, a technical default, or ratings
migrating to 'CC' or below, indicating that a default of some kind
appears probable.  Among these six identified credit risk
securities is an underlying homebuilder which filed for bankruptcy
protection on Nov. 9, 2007.

REIT TruPS CDOs exhibit varying levels of credit enhancement and
other structural protections to rated noteholders.  In addition,
the magnitude of exposure to troubled issuers varies transaction-
to-transaction.  While this makes comparisons across transactions
difficult, Fitch expects that potential downgrades with respect to
classes currently rated 'AAA' and 'AA' will be approximately one
to two rating categories, remaining in the investment grade range
and reflecting an increased probability of default as opposed to
an expectation of a principal loss to such noteholders.  Fitch
expects potential rating actions with respect to more junior
classes to be more pronounced, reflecting an increased expectation
of potential principal loss to noteholders as a result of
collateral defaults and deterioration.  The credit risk to junior
classes is likely to be exacerbated by the fact that collateral
defaults and deterioration, in addition to reducing the principal
balance available to support such notes, often enact cash trapping
mechanisms which divert interest payments to senior classes from
junior classes.

Fitch has placed these REIT TruPS CDOs on Rating Watch Negative:

Attentus CDO I, Ltd./LLC (Attentus I)
  -- $277,979,197 class A-1 'AAA';
  -- $20,000,000 class A-2 'AAA';
  -- $65,000,000 class B 'AA';
  -- $10,000,000 class C-1 'AA-';
  -- $35,000,000 class C-2A 'A-';
  -- $30,000,000 class C-2B 'A-';
  -- $20,000,000 class D 'BBB-';
  -- $16,000,000 class E 'BB-'.

Attentus CDO II, Ltd./LLC (Attentus II)
  -- $233,413,552 class A-1 'AAA';
  -- $60,000,000 class A-2 'AAA';
  -- $55,000,000 class A-3A 'AAA';
  -- $5,000,000 class A-3B 'AAA';
  -- $20,000,000 class B 'AA';
  -- $32,000,000 class C 'A';
  -- $29,000,000 class D 'BBB+';
  -- $16,000,000 class E-1 'BBB-';
  -- $2,000,000 class E-2 'BBB-';
  -- $13,344,182 class F-1 'B+';
  -- $5,128,687 class F-2 'B+';
  -- $40,000,000 subordinated notes 'CCC'.

Attentus CDO III, Ltd./LLC (Attentus III)
  -- $100,000,000 class A-2 'AAA';
  -- $34,000,000 class B 'AA';
  -- $16,000,000 class C-1 'A';
  -- $15,000,000 class C-2 'A';
  -- $10,000,000 class D 'A-';
  -- $15,000,000 class E-1 'BBB';
  -- $7,000,000 class E-2 'BBB';
  -- $24,000,000 class F 'BB-'.

Kodiak CDO I, Ltd./Inc. (Kodiak I)
  -- $83,000,000 class B 'AA';
  -- $30,000,000 class C 'AA';
  -- $13,000,000 class D-1 'AA-';
  -- $5,000,000 class D-2 'AA-';
  -- $29,000,000 class D-3 'AA-';
  -- $5,000,000 class E-1 'A';
  -- $29,000,000 class E-2 'A';
  -- $7,000,000 class F 'BBB+';
  -- $50,000,000 class G 'BB';
  -- $27,706,772 class H 'B-'.

Kodiak CDO II, Ltd./Inc. (Kodiak II)
  -- $81,000,000 class B-1 'AA+';
  -- $5,000,000 class B-2 'AA+';
  -- $38,000,000 class C-1 'AA-';
  -- $2,000,000 class C-2 'AA-';
  -- $36,000,000 class D 'A';
  -- $35,000,000 class E 'BBB';
  -- $43,000,000 class F 'BB'.

Taberna Preferred Funding I, Ltd. (Taberna I)
  -- $320,495,956 class A-1A 'AAA';
  -- $13,504,043 class A-1B 'AAA';
  -- $87,000,000 class A-2 'AAA';
  -- $64,000,000 class B-1 'AA';
  -- $10,000,000 class B-2 'AA';
  -- $37,750,000 class C-1 'A';
  -- $25,750,000 class C-2 'A';
  -- $4,500,000 class C-3 'A';
  -- $13,500,000 class D 'BBB+';
  -- $29,888,477 class E 'BBB'.

Taberna Preferred Funding II, Ltd. (Taberna II)
  -- $379,205,399 class A-1A 'AAA';
  -- $100,963,435 class A-1B 'AAA';
  -- $9,480,135 class A-1C 'AAA';
  -- $86,500,000 class A-2 'AAA';
  -- $120,500,000 class B 'AA';
  -- $73,750,000 class C-1 'BBB+';
  -- $26,000,000 class C-2 'BBB+';
  -- $15,000,000 class C-3 'BBB+';
  -- $31,823,490 class D 'BBB';
  -- $30,490,189 class E-1 'BB';
  -- $10,213,826 class E-2 'BB';
  -- $43,612,981 class F 'B'.

Taberna Preferred Funding III, Ltd. (Taberna III)
  -- $91,250,000 class B-1 'AA';
  -- $7,500,000 class B-2 'AA';
  -- $36,500,000 class C-1 'A-';
  -- $52,000,000 class C-2 'A-';
  -- $43,750,000 class D 'BBB-';
  -- $32,504,510 class E 'B+'.

Taberna Preferred Funding IV, Ltd. (Taberna IV)
  -- $45,000,000 class C-1 'A-';
  -- $20,000,000 class C-2 'A-';
  -- $35,000,000 class C-3 'A-';
  -- $21,000,000 class D-1 'BBB-';
  -- $13,000,000 class D-2 'BBB-';
  -- $24,375,000 class E 'B+'.

Taberna Preferred Funding V, Ltd. (Taberna V)
  -- $60,000,000 class A-1LB 'AAA';
  -- $90,000,000 class A-2L 'AA';
  -- $50,000,000 class A-3L 'BBB';
  -- $35,000,000 class A-3FV 'BBB';
  -- $25,000,000 class A-3FX 'BBB';
  -- $40,500,000 class B-1L 'B+';
  -- $23,581,074 class B-2L 'CCC+';
  -- $5,122,890 class B-2FX 'CCC+.

Taberna Preferred Funding VI, Ltd. (Taberna VI)
  -- $49,490,200 class A-1A 'AAA';
  -- $301,890,218 class A-1B 'AAA';
  -- $90,000,000 class A-2 'AAA';
  -- $18,000,000 class B 'AA+';
  -- $97,000,000 class C 'AA';
  -- $43,000,000 class D-1 'A-';
  -- $10,000,000 class D-2 'A-';
  -- $17,350,653 class E-1 'BBB-';
  -- $17,354,535 class E-2 'BBB-';
  -- $15,373,858 class F-1 'B+';
  -- $10,251,050 class F-2 'B+'.

Taberna Preferred Funding VII, Ltd. (Taberna VII)
  -- $50,000,000 class A-2LB 'AA';
  -- $57,000,000 class A-3L 'A';
  -- $40,000,000 class B-1L 'BBB';
  -- $30,000,000 class B-2L 'BB-'.

Taberna Preferred Funding VIII, Ltd. (Taberna VIII)
  -- $37,000,000 class E 'BBB';
  -- $43,000,000 class F 'BB'.

Trapeza CDO X, Ltd./Inc. (Trapeza X)
  -- $69,000,000 class A-2 'AAA';
  -- $31,000,000 class B 'AA';
  -- $21,000,000 class C-1 'A-';
  -- $35,000,000 class C-2 'A-';
  -- $22,000,000 class D-1 'BBB-';
  -- $22,000,000 class D-2 'BBB-';
  -- $39,500,000 subordinate notes 'B+'.

Trapeza CDO XI, Ltd./Inc. (Trapeza XI)
  -- $53,000,000 class A-2 'AAA';
  -- $20,000,000 class A-3 'AAA';
  -- $25,000,000 class B 'AA';
  -- $33,000,000 class C 'A';
  -- $22,500,000 class D-1 'A-';
  -- $18,500,000 class D-2 'A-';
  -- $13,000,000 class E-1 'BBB';
  -- $5,000,000 class E-2 'BBB';
  -- $10,000,000 class F 'BB'.


* Moody's Takes Rating Actions on Various Transactions
------------------------------------------------------
Moody's Investors Service has issued press releases on these
rating actions:

                          Downgrades

IXIS Corporate and Investment Bank
  -- Bank Financial Strength ... to C from C+

Metallinvestbank JSCB
  -- NSR LT Bank Deposits ... to Baa1.ru from A3.ru

Natixis
  -- Bank Financial Strength ... to C from C+

Structured Adjustable Rate Mortgage Loan Trust 2005-21
  -- $90.17M affected
  -- STRUCT. Subordinate ... to A3 from A2
  -- STRUCT. Subordinate ... to Baa2 from A3
  -- STRUCT. Subordinate ... to Ba1 from Baa2
  -- STRUCT. Subordinate ... to B1 from Baa3

                           Upgrades

Cassa dei Risparmi di Forli e della Rom Spa
  -- $777.03M affected
  -- Senior Unsecured ... to A1 from A3
  -- LT Bank Deposits ... to A1 from A3
  -- LT Deposit Note/CD Program ... to A1 from A3
  -- Subordinate ... to A2 from Baa1

DPL Capital Trust II
  -- $300.00M affected
  -- BACKED Preferred Stock ... to Baa3 from Ba1

DPL Inc.
  -- $1.18B affected
  -- Senior Unsecured ... to Baa2 from Baa3

Dayton Power & Light Company
  -- $552.83M affected
  -- First Mortgage Bonds ... to A2 from A3
  -- LT Issuer Rating ... to A3 from Baa1
  -- Preferred Stock ... to Baa2 from Baa3

EMSC Management, Inc.
  -- $700.00M affected
  -- LT Corporate Family Ratings ... to Ba3 from B1
  -- BACKED Senior Secured Bank Credit Facility ... to Ba1 from
     Ba2
  -- BACKED Senior Subordinate ... to B1 from B3

ORIX-NRL Trust 13
  -- JpnY 4.78B affected
  -- STRUCT. Senior Secured ... to Aaa from Aa1
  -- STRUCT. Senior Secured ... to Aa2 from Aa3
  -- STRUCT. Senior Secured ... to A3 from Baa1
  -- STRUCT. Senior Secured ... to Baa2 from Baa3

Skandia Capital AB
  -- $67.88M affected
  -- BACKED Senior Unsecured ... to A3 from Baa1

Skandia Insurance Company Ltd.
  -- Insurance Financial Strength ... to A2 from A3

Skandia Life Assurance Company
  -- Insurance Financial Strength ... to A2 from A3

                 Review for Possible Downgrade

Kelda Group plc
  -- GBP 903.97M may be affected
  -- LT Issuer Rating ... A3
  -- Commercial Paper ... P-2
  -- ST Issuer Rating ... P-2
  -- BACKED Senior Unsecured ... A2

PREPS 2005-2 plc
  -- $79.92M may be affected
  -- STRUCT. Senior Subordinate ... A2

PREPS 2006-1 plc
  -- $72.52M may be affected
  -- STRUCT. Senior Subordinate ... A2

Scottish Mutual Assurance Limited
  -- $410.90M may be affected
  -- Insurance Financial Strength ... Baa1
  -- Junior Subordinate ... Baa3

Tenorite CDO I Ltd.
  -- $441.00M may be affected
  -- STRUCT. Senior Secured ... Baa2
  -- STRUCT. Senior Subordinate ... A2
  -- STRUCT. Senior Subordinate ... Aa2
  -- STRUCT. Senior Subordinate ... Aaa
  -- STRUCT. Senior Subordinate ... Baa2

Yorkshire Water Services Finance Plc
  -- GBP 1.95B may be affected
  -- BACKED Senior Unsecured ... A2

                          Confirmations

IXIS Corporate & Investment Bank - Green Bay Credit Derivatives
Super Senior Transaction
  -- $170.00M affected
  -- STRUCT. Senior Secured ... Aaa

                           Assignments

AyT CAIXA GALICIA EMPRESAS I Fondo de Titulizacion de Activos
  -- EUR 5.00M Series E1 PASS-THRU CTFS due 2045 ... C
  -- EUR 24.30M Series E2 PASS-THRU CTFS due 2045 ... C
  -- EUR 27.10M Series C PASS-THRU CTFS due 2045 ... A3
  -- EUR 24.50M Series D PASS-THRU CTFS due 2045 ... Ba3
  -- EUR 41.60M Series B PASS-THRU CTFS due 2045 ... Aa3
  -- EUR 781.70M Series A PASS-THRU CTFS due 2045 ... Aaa

Coso Geothermal Power Holdings LLC
  -- $674.30M PASS-THRU GLOBAL CTFS due 2026 ... Baa3

Espoir Omotesando
  -- JpnY 3700.00M Class C PASS-THRU CTFS due 2013 ... (P)A2
  -- JpnY 3700.00M Class B PASS-THRU CTFS due 2013 ... (P)Aa2
  -- JpnY 100.00M Class A-2 PASS-THRU CTFS due 2013 ... (P)Aaa
  -- JpnY 4100.00M Class D PASS-THRU CTFS due 2013 ... (P)Baa2
  -- JpnY 17100.00M Class A-1 PASS-THRU CTFS due 2013 ...
     (P)Aaa

Pepper Residential Securities Trust No.7
  -- $A 6.40M Class B Notes PASS-THRU CTFS due 2048 ... (P)A2
  -- $A 2.20M Class D Notes PASS-THRU CTFS due 2048 ... (P)Ba2
  -- $A 3.60M Class C Notes PASS-THRU CTFS due 2048 ... (P)Baa2
  -- $A 16.00M Class A3 Notes PASS-THRU CTFS due 2048 ...
     (P)Aa1
  -- $A 38.40M Class A2 Notes PASS-THRU CTFS due 2048 ...
     (P)Aaa
  -- $A 130.00M Class A1 Notes PASS-THRU CTFS due 2048 ...
     (P)Aaa

Principal Life Income Fundings Trusts
  -- $5000.00M GTD SEC MTN PROGRAM ... Aa2

Relativity Media Holdings I LLC, Series 2007-1
  -- $375.00M Cl. A COLL NOTES due 2017 ... Aaa

                        Outlook Actions

Cassa dei Risparmi di Forli e della Rom Spa
  -- To Stable ... from Stable(m)

Coso Geothermal Power Holdings LLC
  -- To Stable ... from Never Assigned

DPL Capital Trust II
  -- To Stable ... from Rating(s) Under Review

DPL Inc.
  -- To Stable ... from Rating(s) Under Review

Dayton Power & Light Company
  -- To Stable ... from Rating(s) Under Review

EMSC Management, Inc.
  -- To Stable ... from Positive

Kelda Group plc
  -- To Rating(s) Under Review ... from Stable

Metallinvestbank JSCB
  -- To Negative(m) ... from Stable

Rhodia S.A.
  -- To Positive ... from Stable

Skandia Capital AB
  -- To Stable ... from Rating(s) Under Review

Skandia Insurance Company Ltd.
  -- To Stable ... from Rating(s) Under Review

Skandia Life Assurance Company
  -- To Stable ... from Rating(s) Under Review

Yorkshire Water Services Finance Plc
  -- To Rating(s) Under Review ... from Stable

STA = Stable
POS = Positive
NEG = Negative
DEV = Developing
NOO = No Outlook
RUR = Rating(s) Under Review
(m) = Multiple outlooks with directional differences exist for
      this issuer.
STA(m) = Stable with directional differences at the asset/issue
      level.
NEG(m) = Negative with directional differences at the
      asset/issue level.
POS(m) = Positive with directional differences at the
      asset/issue level.
DEV(m) = Developing with directional differences at the
      asset/issue level.
RWR = Ratings Withdrawn


* Beard Group's Featured Conference for November 2007
-----------------------------------------------------
Beard Audio Conferences presents a bankruptcy-related
audio conferences for Nov.

   * The Battle of Green & Red: Effect of Bankruptcy on
     Obligations to Clean Up Contaminated Property

To register, visit http://www.beardaudioconferences.com


* Drinker Biddle Fortifies with 13 Lawyers from Connelly Sheehan
----------------------------------------------------------------
Drinker Biddle & Reath LLP will enhance its national HR Law
practice with the addition of all 13 lawyers from boutique firm
Connelly Sheehan Harris LLP, a Chicago-based employment
litigation boutique with a national practice, beginning Feb. 1,
2008.

"We are very excited to have this outstanding group of labor and
employment lawyers join our growing national HR Law practice,"
Alfred W. Putnam, Jr., Drinker Biddle chairman, said.  "With this
move, we'll have nearly 75 lawyers across the country focusing on
matters such as wage-and-hour class actions, unfair competition,
labor law, ERISA cases and discrimination litigation in addition
to offering full service in the areas of employee benefits and
executive compensation."

Michael Sheehan, who co-founded his firm in 1990, said this move
comes in response to client needs.  "We reached a point at our
firm where we needed to expand to serve our larger clients from a
firm with national coverage and with skilled veteran lawyers in
our field," he said.  "At the same time, we wanted a place that
would not require us to take the edge off who we are or how we go
about working with our clients.  We found all that
and more at Drinker Biddle."

Name partners Sheehan and Martin Harris will join Drinker Biddle
as partners, while P. Kevin Connelly will be of counsel to the
firm.  In addition, Rachel Cowen and Kristine Aubin will join
Drinker Biddle as partners, and John A. Berg and Brian E. Spang
will be counsel.  

Six additional Connelly Sheehan Harris lawyers will be joining as
associates: Heather A. Bailey, Michael S. Booher, Nathalie Q.
Collins, Richard S. Cozza, Esther Vreeman-Moll and Terence P.
Smith. Most of the firm's staff members will be offered comparable
positions at Drinker Biddle.

Drinker Biddle's employment litigation practice added Cheryl D.
Orr and Heather M. Sager in January 2007 from San Francisco
boutique Carlton DiSante & Freudenberger LLP.  

The firm disclosed that employment litigator Maria L.H. Lewis will
be joining the Philadelphia office on Jan. 1, 2008, as one of a
dozen lawyers arriving from Miller Alfano & Raspanti P.C. In
addition, the HR Law practice added employee benefits
lawyer Dawn E. Sellstrom to Drinker Biddle's Chicago office in
October from Seyfarth Shaw LLP.

The addition of the lawyers from Connelly Sheehan Harris will come
after a year of significant growth for Drinker Biddle in Chicago.  
The firm combined with the more than 170 lawyers of Gardner Carton
& Douglas in January and last month welcomed three partners from
Mayer Brown to its securities litigation practice.

"We have a strong commitment to increasing our litigation presence
in this office," Edwin A. Getz, regional partner in charge of the
Chicago office, said.  "We intend to keep building upon our
strengths locally in the areas of products liability, employment
litigation and class actions, and securities and corporate
governance."

                About Drinker Biddle & Reath LLP

Based in  Philadelphia, Pa., Drinker Biddle & Reath LLP --  
http://www.drinkerbiddle.com/-- a national law firm with more  
than 650 lawyers in 12 offices, concentrates on providing clients
with the best possible service in areas such as corporate and
securities, commercial litigation, communications litigation,
products liability and mass tort litigation, intellectual
property, health care, HR law, real estate, corporate
restructuring, government and regulatory affairs, environmental,
insurance, investment management and private client services.


* Upcoming Meetings, Conferences and Seminars
---------------------------------------------
Nov. 29, 2007
   INTERNATIONAL WOMEN'S INSOLVENCY & RESTRUCTURING CONFEDERATION
      Holiday Gala
         Yale Club, New York, New York
            Contact: http://www.iwirc.org/

Nov. 29, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Special Speaker
         TBD, New Jersey
            Contact: 908-575-7333; http://www.turnaround.org/

Nov. 29, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Special Speaker
         Hilton, Sydney, Australia
            Contact: http://www.turnaround.org/

Nov. 29, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Arizona Chapter Meeting
         Contact: http://www.turnaround.org/

Dec. 3, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Fraud and Its Many Colors
         Omni Hotel, New Haven, Connecticut
            Contact: http://www.turnaround.org/

Dec. 3, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Australia Celebrates Christmas
         Blake Dawson Waldron, Sydney, Australia
            Contact: 02-9517-4041 or http://www.turnaround.org/

Dec. 5, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA/ACG Holiday Party
         Marriott Downtown, Orlando, Florida
            Contact: 561-882-1331 or http://www.turnaround.org/

Dec. 5, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Joint Holiday Networking Event with TMA/CFA
         TBA, Philadelphia, Pennsylvania
            Contact: 215-657-5551 or http://www.turnaround.org/

Dec. 6, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Seattle Holiday Party
         Athletic Club, Seattle, Washington
            Contact: 206-223-5495; http://www.turnaround.org/

Dec. 6-8, 2007
   AMERICAN BANKRUPTCY INSTITUTE
      Winter Leadership Conference
         Westin Mission Hills Resort, Rancho Mirage, California
            Contact: 1-703-739-0800; http://www.abiworld.org/

Dec. 10, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Holiday Party
         Guy Anthony's Restaurant, Merrick, New York
            Contact: 631-251-6296 or http://www.turnaround.org/

Dec. 10, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Holiday Party
         Guy Anthony's Restaurant, Merrick, New York
            Contact: 631-251-6296 or http://www.turnaround.org/

Dec. 10, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA/CFA Joint Holiday Party
         Maryland Club, Baltimore, Maryland
            Contact: 215-657-5551 or http://www.turnaround.org/

Dec. 12, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Joint Holiday Networking Event with TMA/CFA
         Loews Hotel, Philadelphia, Pennsylvania
            Contact: 215-657-5551 or http://www.turnaround.org/

Dec. 13, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Colorado Chapter Annual Brew Pub & Pool Social
         Wynkoop Brewing Company, Denver, Colorado
            Contact: 303-847-5026 or http://www.turnaround.org/

Dec. 13, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Holiday Extravaganza - TMA & CFA
         Georgia Aquarium, Atlanta, Georgia
            Contact: 678-795-8103 or http://www.turnaround.org/

Dec. 13, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Holiday Extravaganza - TMA & CFA
         Georgia Aquarium, Atlanta, Georgia
            Contact: 678-795-8103 or http://www.turnaround.org/

Dec. 19, 2007
   LEXISNEXIS CONFERENCES
      Mealey's Asbestos Bankruptcy Conference
         Four Seasons Hotel, Miami, Florida
            Contact: http://www.lexisnexis.com/

Dec. 19, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      South Florida Dinner
         TBA, South Florida
            Contact: 561-882-1331; http://www.turnaround.org/

Jan. 10, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Distressed Debt Panel
         University Club, Jacksonville, Florida

Jan. 10, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      NJTMA Holiday Party
         Iberia Tavern & Restaurant, Newwark, New Jersey
            Contact: 908-575-7333 or http://www.turnaround.org/

Jan. 11, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Annual Lenders Panel
         Westin Buckhead, Atlanta, Georgia
            Contact: http://www.turnaround.org/

Jan. 16, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Current Outlook: Workouts, Lending and Turnarounds
         Marriott North, Fort Lauderdale, Florida
            Contact: http://www.turnaround.org/

Jan. 17-18, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      Caribbean Insolvency Symposium
         Westin Diplomat, Hollywood, Florida
            Contact: http://www.abiworld.org/

Jan. 28, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Finding Money: Int'l Asset Search and
         Recovery Methods for Collecting Judgments
            Centre Club, Tampa, Florida
               Contact: http://www.turnaround.org/

Feb. 7, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      PowerPlay
         Philips Arena, Atlanta, Georgia
            Contact: 678-795-8103 or http://www.turnaround.org/

Feb. 7, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Breakfast Event
         Carnelian Room, San Francisco, California
            Contact: 510-346-6000 ext 226 or
                     http://www.turnaround.org/

Feb. 7, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      PowerPlay
         Philips Arena, Atlanta, Georgia
            Contact: 678-795-8103 or http://www.turnaround.org/

Feb. 14-16, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      13th Annual Rocky Mountain Bankruptcy Conference
         Westin Tabor Center, Denver, Colorado
            Contact: 1-703-739-0800; http://www.abiworld.org/

Feb. 22, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      Bankruptcy Battleground West
         Fairmont Miramar, Santa Monica, California
            Contact: http://www.abiworld.org/

Feb. 23-26, 2008
   NORTON INSTITUTES ON BANKRUPTCY LAW
      Bankruptcy Litigation Seminar I
         Park City, Utah
            Contact: http://www.nortoninstitutes.org/

Feb. 26, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Retail Panel
         Citrus Club, Orlando, Florida
            Contact: www.turnaround.org/

Feb. 27-28, 2008
   EUROMONEY INSTITUTIONAL INVESTOR
      6th Annual Distressed Investing Forum
         Union League Club, New York, New York
            Contact: http://www.euromoneyplc.com/

Mar. 6-8, 2008
   ALI-ABA
      Fundamentals of Bankruptcy Law
         Mandalay Bay Resort, Las Vegas, Nevada
            Contact: http://www.ali-aba.org/

Mar. 8-10, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      Conrad Duberstein Moot Court Competition
         St. John's University School of Law, New York
            Contact: http://www.abiworld.org/

Mar. 19, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      South Florida Dinner
         Bankers Club of Miami, Florida
            Contact: 561-882-1331 or http://www.turnaround.org/

Mar. 25, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Luncheon - Maggie Good
         Centre Club, Tampa, Florida
            Contact: 561-882-1331 or http://www.turnaround.org/

Mar. 25-29, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Spring Conference
         Ritz Carlton Grande Lakes, Orlando, Florida
            Contact: http://www.turnaround.org/

Mar. 27-30, 2008
   NORTON INSTITUTES ON BANKRUPTCY LAW
      Bankruptcy Litigation Seminar II
         Las Vegas, Nevada
            Contact: http://www.nortoninstitutes.org/

Apr. 3, 2008
   INTERNATIONAL WOMEN'S INSOLVENCY & RESTRUCTURING CONFEDERATION
      Annual Spring Luncheon
         Renaissance Hotel, Washington, District of Columbia
            Contact: 703-449-1316 or www.iwirc.org

Apr. 3, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      Nuts and Bolts for Young Practitioners - East
         The Renaissance, Washington, District of Columbia
            Contact: http://www.abiworld.org/

Apr. 3-6, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      26th Annual Spring Meeting
         The Renaissance, Washington, District of Columbia
            Contact: http://www.abiworld.org/

Apr. 25-27, 2008
   NATIONAL ASSOCIATION OF BANKRUPTCY JUDGES
      NABT Spring Seminar
         Eldorado Hotel & Spa, Santa Fe, New Mexico
            Contact: http://www.nabt.com/

May 1-2, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      Debt Symposium
         Hilton Garden Inn, Champagne/Urbana, Illinois
            Contact: 1-703-739-0800; http://www.abiworld.org/

May 9, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      Nuts and Bolts for Young Practitioners - NYC
         Alexander Hamilton U.S. Custom House, New York
            Contact: 1-703-739-0800; http://www.abiworld.org/

May 12, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      New York City Bankruptcy Conference
         Millennium Broadway Hotel & Conference Center, New York
            Contact: 1-703-739-0800; http://www.abiworld.org/

May 13-16, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      Litigation Skills Symposium
         Tulane University, New Orleans, Louisiana
            Contact: 1-703-739-0800; http://www.abiworld.org/

May 18-20, 2008
   INTERNATIONAL BAR ASSOCIATION
      14th Annual Global Insolvency & Restructuring Conference
         Stockholm, Sweden
            Contact: http://www.ibanet.org/

June 4-7, 2008
   ASSOCIATION OF INSOLVENCY & RESTRUCTURING ADVISORS
      24th Annual Bankruptcy & Restructuring Conference
         J.W. Marriott Spa and Resort, Las Vegas, Nevada
            Contact: http://www.airacira.org/

June 12-14, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      15th Annual Central States Bankruptcy Workshop
         Grand Traverse Resort and Spa, Traverse City, Michigan
            Contact: http://www.abiworld.org/

June 19-21, 2008
   ALI-ABA
      Partnerships, LLCs, and LLPs: Uniform Acts, Taxation,
         Drafting, Securities, and Bankruptcy
            Omni Hotel, San Francisco, California
               Contact: http://www.ali-aba.org/

June 26-29, 2008
   NORTON INSTITUTES ON BANKRUPTCY LAW
      Western Mountains Bankruptcy Law Seminar
         Jackson Hole, Wyoming
            Contact: http://www.nortoninstitutes.org/

July 10-13, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      16th Annual Northeast Bankruptcy Conference
         Ocean Edge Resort
            Brewster, Massachussets
               Contact: http://www.abiworld.org/events

July 31 - Aug. 2, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      4th Annual Mid-Atlantic Bankruptcy Workshop
         Hyatt Regency Chesapeake Bay
            Cambridge, Maryland
               Contact: http://www.abiworld.org/

Aug. 16-19, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      13th Annual Southeast Bankruptcy Workshop
         Ritz-Carlton, Amelia Island, Florida
            Contact: http://www.abiworld.org/

Aug. 20-24, 2008
   NATIONAL ASSOCIATION OF BANKRUPTCY JUDGES
      NABT Convention
         Captain Cook, Anchorage, Alaska
            Contact: http://www.nabt.com/

Sept. 4-5, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      Complex Financial Restructuring Program
         Four Seasons, Las Vegas, Nevada
            Contact: http://www.abiworld.org/

Sept. 4-6, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      Southwest Bankruptcy Conference
         Four Seasons, Las Vegas, Nevada
            Contact: http://www.abiworld.org/

Sept. 24-26, 2008
   INTERNATIONAL WOMEN'S INSOLVENCY & RESTRUCTURING CONFEDERATION
      IWIRC 15th Annual Fall Conference
         Scottsdale, Arizona
            Contact: http://www.ncbj.org/

Sept. 24-27, 2008
   NATIONAL CONFERENCE OF BANKRUPTCY JUDGES
      National Conference of Bankruptcy Judges
         Desert Ridge Marriott, Scottsdale, Arizona
            Contact: http://www.iwirc.org/

Oct. 9, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Luncheon - Chapter 11
         University Club, Jacksonville, Florida
            Contact: http://www.turnaround.org/

Oct. 28-31, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Annual Convention
         Marriott New Orleans, Louisiana
            Contact: 312-578-6900; http://www.turnaround.org/
  
Dec. 3-5, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      20th Annual Winter Leadership Conference
         Westin La Paloma Resort & Spa
            Tucson, Arizona
               Contact: http://www.abiworld.org/

May 7-10, 2009
   AMERICAN BANKRUPTCY INSTITUTE
      27th Annual Spring Meeting
         Gaylord National Resort & Convention Center
            National Harbor, Maryland
               Contact: http://www.abiworld.org/

June 11-13, 2009
   AMERICAN BANKRUPTCY INSTITUTE
      Central States Bankruptcy Workshop
         Grand Traverse Resort and Spa
            Traverse City, Michigan
               Contact: http://www.abiworld.org/

June 21-24, 2009
   INTERNATIONAL ASSOCIATION OF RESTRUCTURING, INSOLVENCY &
      BANKRUPTCY PROFESSIONALS
         8th International World Congress
            TBA
               Contact: http://www.insol.org/

July 16-19, 2009
   AMERICAN BANKRUPTCY INSTITUTE
      Northeast Bankruptcy Conference
         Mt. Washington Inn
            Bretton Woods, New Hampshire
               Contact: http://www.abiworld.org/

Sept. 10-12, 2009
   AMERICAN BANKRUPTCY INSTITUTE
      17th Annual Southwest Bankruptcy Conference
         Hyatt Regency Lake Tahoe, Incline Village, Nevada
            Contact: http://www.abiworld.org/

Oct. 5-9, 2009
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Annual Convention
         Marriott Desert Ridge, Phoenix, Arizona
            Contact: 312-578-6900; http://www.turnaround.org/

Dec. 3-5, 2009
   AMERICAN BANKRUPTCY INSTITUTE
      21st Annual Winter Leadership Conference
         La Quinta Resort & Spa, La Quinta, California
            Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 4-8, 2010
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Annual Convention
         JW Marriott Grande Lakes, Orlando, Florida
            Contact: http://www.turnaround.org/

BEARD AUDIO CONFERENCES
   2006 BACPA Library   
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com;
               http://researcharchives.com/t/s?20fa

BEARD AUDIO CONFERENCES
   BAPCPA One Year On: Lessons Learned and Outlook
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Calpine's Chapter 11 Filing
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Carve-Out Agreements for Unsecured Creditors
      Contact: 240-629-3300; http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Changes to Cross-Border Insolvencies
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Changing Roles & Responsibilities of Creditors' Committees
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   China\u2019s New Enterprise Bankruptcy Law
      Contact: 240-629-3300;
         http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Clash of the Titans -- Bankruptcy vs. IP Rights
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Coming Changes in Small Business Bankruptcy
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Dana's Chapter 11 Filing
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Deepening Insolvency \u2013 Widening Controversy: Current
Risks,
      Latest Decisions
         Audio Conference Recording
            Contact: 240-629-3300;
               http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Diagnosing Problems in Troubled Companies
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Distressed Claims Trading
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Distressed Market Opportunities
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Distressed Real Estate under BAPCPA
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Employee Benefits and Executive Compensation under the New
      Code
         Audio Conference Recording
            Contact: 240-629-3300;
               http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Equitable Subordination and Recharacterization
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Fundamentals of Corporate Bankruptcy and Restructuring
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Handling Complex Chapter 11
      Restructuring Issues  
         Audio Conference Recording
            Contact: 240-629-3300;
               http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Healthcare Bankruptcy Reforms
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   High-Yield Opportunities in Distressed Investing
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Homestead Exemptions under BAPCPA
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Hospitals in Crisis: The Insolvency Crisis Plaguing
      Hospitals Across the U.S.
         Audio Conference Recording
            Contact: 240-629-3300;
               http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   IP Rights In Bankruptcy
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   KERPs and Bonuses under BAPCPA
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Non-Traditional Lenders and the Impact of Loan-to-Own
      Strategies on the Restructuring Process
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Partnerships in Bankruptcy: Unwinding The Deal
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Privacy Rights, Protections & Pitfalls in Bankruptcy
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Real Estate Bankruptcy
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Reverse Mergers\u2014the New IPO?
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Second Lien Financings and Intercreditor Agreements
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Surviving the Digital Deluge: Best Practices in E-Discovery
      and Records Management for Bankruptcy Practitioners
         and Litigators
            Audio Conference Recording
               Contact: 240-629-3300;
                  http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Technology as a Competitive Advantage For Today\u2019s Legal
Processes
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   The Battle of Green & Red: Effect of Bankruptcy
      on Obligations to Clean Up Contaminated Property
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   The Subprime Sector Meltdown:
      Legal Developments and Latest Opportunities
         Contact: 240-629-3300;
http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Twenty-Day Claims  
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Using Virtual Data Rooms to Expedite M&A and Insolvency
Proceedings
         Contact: 240-629-3300;
http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Validating Distressed Security Portfolios: Year-End Price
      Validation and Risk Assessment
         Audio Conference Recording
            Contact: 240-629-3300;
               http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   When Tenants File -- A Landlord's BAPCPA Survival Guide
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

The Meetings, Conferences and Seminars column appears in the
Troubled Company Reporter each Wednesday. Submissions via e-mail
to conferences@bankrupt.com are encouraged.

                             *********

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

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

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

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

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

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

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

                             *********

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

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

                    *** End of Transmission ***