T R O U B L E D C O M P A N Y R E P O R T E R Saturday, December 1, 2007, Vol. 11, No. 285 Headlines AMERICAN HOME: Files Amended Schedules of Assets and Liabilities AMERICAN HOME: AHM Corp. Amends Schedules of Assets and Debts AMERICAN HOME: Homegate Amends Schedules of Assets and Liabilities DURA AUTOMOTIVE: Incurs $14,521,000 Net Loss in October 2007 FIRST MAGNUS: Posts $60,859,610 Net Loss in October 2007 HOMEBANC CORP: Posts $36,036,000 Net Loss in October 2007 HOMEBANC CORP: Amends Schedules of Assets and Liabilities HOMEBANC CORP: HB Funding Amends Schedules of Assets and Debts HOMEBANC CORP: HB Funding II Amends Schedules of Assets and Debts HOMEBANC CORP: HMB Corp. Amends Schedules of Assets and Debts HOMEBANC CORP: HMB Acceptance Amends Schedules of Assets and Debts HOMEBANC CORP: HMB Mortgage Amends Schedules of Assets and Debts LEVITT & SONS: LAS Lake County Files Schedules of Assets & Debts LEVITT & SONS: LAS Hawk Haven Files Schedules of Assets and Debts VESTA INSURANCE: Gordon Gaines Files Oct. 2007 Operating Repor ********* AMERICAN HOME: Files Amended Schedules of Assets and Liabilities ---------------------------------------------------------------- American Home Mortgage Investment Corp. amended schedule B of its Schedules of Assets and Liabilities to add an inter-company accounts receivable aggregating $1,299,975,781, among other things. B - Personal Property B.1 Cash on Hand $0 B.2 Bank Accounts Deutsche Bank 29,133 Northfork Bank 20,920,765 B.3 Security Deposits 0 B.4 Household goods 0 B.5 Book, artwork and collectibles 0 B.6 Wearing apparel 0 B.7 Furs and jewelry 0 B.8 Firearms and other equipment 0 B.9 Insurance Policies 0 B.10 Annuities 0 B.11 Interests in an education IRA 0 B.12 Interests in pension plans 401(k) Plan 0 B.13 Stock and Interests 100 % interest in AHMAC Undetermined 100 % interest in AHMH Undetermined 100 % interest in AHMSP VIII Undetermined B.14 Interests in partnerships 0 B.15 Government and corporate bonds 0 B.16 Accounts Receivable Inter-company AHM 1,299,975,781 Inter-company Baylis Trust 1 7,865,269 Accrued Int. Receivable Trading Sec. 4,110,281 Others 701,289 B.17 Alimony 0 B.18 Other Liquidated Debts Owing Debtor 0 B.19 Equitable or future interests 0 B.20 Interests in estate death benefit plan 0 B.21 Other Contingent and Unliquidated Claims 89,472 B.22 Patents, copyrights, and others 0 B.23 Licenses, franchises & other intangibles 0 B.24 Customer lists or other compilations 0 B.25 Vehicles 0 B.26 Boats, motors and accessories 0 B.27 Aircraft and accessories 0 B.28 Office Equipment 0 B.29 Equipment and Supplies for Business 0 B.30 Inventory 0 B.31 Animals 0 B.32 Crops 0 B.33 Farming equipment and implements 0 B.34 Farm supplies, chemicals, and feed 0 B.35 Other Personal Property 0 Derivative assets 17,320,805 Mortgage backed securities 1,596,492,619 Prepaid expenses 11,876 TOTAL SCHEDULED ASSETS $2,947,517,290 ========================================================= 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: AHM Corp. Amends Schedules of Assets and Debts ------------------------------------------------------------- American Home Mortgage Corp. amended schedules E and F of its Schedules of Assets and Liabilities to reflect certain changes to those schedules. The total scheduled liabilities now aggregate $4,633,407,089: D - Creditors Holding Secured Claims $2,982,107,598 E - Creditors Holding Unsecured Priority Claims 8,278,185 F - Creditors Holding Unsecured Nonpriority Claims 1,643,021,306 TOTAL SCHEDULED LIABILITIES $4,633,407,089 ========================================================= 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: Homegate Amends Schedules of Assets and Liabilities ------------------------------------------------------------------ Homegate Settlements Services Inc. amended the list of creditors holding unsecured claims in schedules E and F of its Schedules of Assets and Liabilities. The schedules were amended to reflect the omission of certain creditors. Schedule E currently aggregates $312,892, while Schedule F aggregates $8,434,560. Homegate Settlements' total scheduled liabilities amount to $8,747,452. 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). DURA AUTOMOTIVE: Incurs $14,521,000 Net Loss in October 2007 ------------------------------------------------------------ Dura Automotive Systems, Inc., and Subsidiaries Condensed Unaudited Consolidated Balance Sheet As of October 28, 2007 (In thousands of dollars) ASSETS Current assets: Cash and cash equivalents $4,560 Accounts receivable, net Trade 113,050 Other 7,955 Non-Debtor subsidiaries 31,787 Inventories 49,116 Other current assets 35,019 ---------- Total current assets 241,487 Property, plant and equipment, net 132,570 Goodwill, net 178,611 Notes receivable from Non-Debtors subsidiaries 189,955 Investment in Non-Debtors subsidiaries 790,647 Other noncurrent assets 16,993 ---------- Total Assets $1,550,263 ========== LIABILITIES AND STOCKHOLDERS' INVESTMENT Current liabilities: Debtors-in-possession financing $126,624 Accounts payable 45,468 Accounts payable to Non-Debtors subsidiaries 1,972 Accrued Liabilities 77,373 ---------- Total current liabilities 251,437 Long-term Liabilities: Notes Payable to Non-Debtors subsidiaries 9,283 Other noncurrent liabilities 57,642 Liabilities Subject to Compromise 1,310,801 ---------- Total Liabilities 1,629,163 Stockholders' Investment (78900) ---------- Total Liabilities and Stockholders' Investment $1,550,263 ========== Dura Automotive Systems, Inc., and Subsidiaries Condensed Unaudited Consolidated Statement of Operations For the Four Weeks Ended October 28, 2007 (In thousands of dollars) Total sales $60,451 Cost of sales 61,056 ---------- Gross (loss) profit (605) Selling, general and administrative expenses $5,802 Facility consolidation, asset impairment and other charges 686 Amortization expense 19 ---------- Operating (loss) income (7,112) Interest expense, net 2,817 ---------- Loss before reorganization items and income taxes (9,929) Reorganization items 4,620 ---------- Loss before income taxes (14,549) Provision for income taxes 20 Loss from continuing operations (14,569) Loss from discontinued operations (48) ---------- Net Income (Loss) (14,521) ========== Dura Automotive Systems, Inc., and Subsidiaries Condensed Unaudited Consolidated Statements of Cash Flows For the Four Weeks Ended October 28, 2007 (In thousands of dollars) Operating Activities: Net Income (loss) ($14,521) Adjustments to reconcile net loss to net cash used in operations activities: Depreciation, amortization & asset impairment 2,091 Amortization of deferred financing fees 708 (Gain)/Loss on sale of assets 36 Reorganization items 4,620 Changes in other operating items: Accounts receivable 2,617 Inventories (1,104) Other current assets (733) Noncurrent assets 76 Accounts payable 184 Accrued liabilities 521 Noncurrent liabilities (119) Current intercompany transactions (1,139) ---------- Net cash provided by operating activities (6,763) Investing Activities: Purchases of property, plant & equipment (1,464) Proceeds from sales of assets - ---------- Net cash (used in) provided by investing activities (1,464) Financing Activities: DIP Borrowings 6,688 Payments on prepetition debt - ---------- Net cash used in financing activities 6,688 ---------- Net change in cash & cash equivalents from continuing operations (1,539) Cash flows from discontinued operations Proceeds from sale of Atwood - ---------- Net change in cash & cash equivalents from discontinued operations - Cash & cash equivalents, Beginning Balance 6,099 ---------- Cash & cash equivalents, ending balance $4,560 ========== 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 Bankruptcy Court canceled the confirmation hearing scheduled for Dec. 6, 2007, saying there was no point moving forward with the Plan until DURA obtains the necessary exit financing. (Dura Automotive Bankruptcy News, Issue No. 38 Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000). FIRST MAGNUS: Posts $60,859,610 Net Loss in October 2007 -------------------------------------------------------- First Magnus Financial Corporation Balance Sheet As of October 31, 2007 ASSETS Unrestricted Cash $10,849,542 Restricted Cash -- Accounts Receivable (net) 669,261,283 Inventory - Notes Receivable - Prepaid Expenses - Other 1,172,069 Property, Plant & Equipment Less : Accumulated Depreciation Net property, Plant & Equipment 27,667,539 Due From Insider(s) Other Assets - net 6,939,377 Other 12,992,671 -------------- TOTAL ASSETS $728,882,481 ============== POST PETITION LIABILITIES Accounts Payable $288,179 Taxes Payable -- Notes Payable -- Professional Fees -- Secured Debt -- Other 1,074,320 -------------- Total Post-Petition Liabilities 1,362,499 PREPETITION LIABILITIES Secured Debt 492,730,207 Priority Debt 11,822,911 Unsecured Debt 67,411,209 Other -- -------------- Total Prepetition Liabilities 571,964,327 -------------- TOTAL LIABILITIES 573,326,826 EQUITY Pre-petition Owner's Equity 217,787,848 Post-Petition Cumulative Profit/Loss (62,232,194) -------------- Total Equity 155,555,654 -------------- TOTAL LIABILITIES & OWNER'S EQUITY $728,882,481 ============== First Magnus Financial Corporation Income Statement Month Ended October 31, 2007 REVENUES Gross Revenue $42,424 Less: Returns and Discounts -- -------------- Net Revenue 42,424 COST OF GOODS SOLD Material -- Direct Labor 471,901 Direct Overhead -- -------------- Total Cost of Goods Sold 471,901 -------------- GROSS PROFIT (429,478) OPERATING EXPENSES Officer/Insider Compensation -- General & Administrative 243,951 Other Expenses -- -------------- Total Operating Expenses 243,951 -------------- Income Before Non-Operating Income and Expenses (673,428) OTHER INCOME AND EXPENSE Other Income -- Other Expense 60,182,431 Interest Expense -- Depreciation/Depletion -- Amortization -- Net other Income and Expense 60,182,431 -------------- Income Before Reorganization Expense (60,855,860) REORGANIZATION EXPENSES Professional Fees -- U.S. Trustee Fees 3,750 Other -- -------------- Total Reorganization Expenses 3,750 Income Tax -- -------------- NET PROFIT OR (LOSS) ($60,859,610) ============== First Magnus Financial Corporation Receipts and Disbursements Month Ended October 31, 2007 Balance at Beginning of Period $4,517,098 RECEIPTS: -- Cash Sales -- Accounts Receivable -- Prepetition -- Accounts Receivable -- Postpetition -- Loans and Advances -- Sale of Assets 5,366,534 Transfers from Other DIP Accounts 1,117,550 Others 2,355,796 -------------- Total Receipts 8,839,880 DISBURSEMENTS: Business -- Ordinary Operations 1,215,926 Capital Improvements -- Prepetition Debt -- Transfers to Other DIP Accounts 1,117,550 Others 170,210 Reorganization Expenses: Attorney's Fees -- Accountant Fees -- Other Professional Fees -- U.S. Trustee Quarterly Fee 3,750 Court Costs -- -------------- Total Disbursements 2,507,436 Balance at End of Month $10,849,542 ============== Based in Tucson, Arizona, First Magnus Financial Corporation -- http://www.firstmagnus.com/-- purchases and sells prime and Alt-A mortgage loans secured by one-to-four unit residences. The company filed for chapter 11 protection on Aug. 21, 2007 (Bankr. D. Ariz. Case No.: 07-01578). John R. Clemency, Esq., at Greenberg Traurig LLP serves as the counsel for the Debtor. The Official Committee of Unsecured Creditors has selected the firm Warner Stevens LLP as its counsel. When the Debtor filed for bankruptcy, it listed total assets of $942,109,860 and total debts of $812,533,046. The Debtor's exclusive period to file a plan expires on Dec. 19, 2007. (First Magnus Bankruptcy News, Issue No. 11; Bankruptcy Creditors' Service Inc. http://bankrupt.com/newsstand/or 215/945-7000). HOMEBANC CORP: Posts $36,036,000 Net Loss in October 2007 --------------------------------------------------------- HomeBanc Mortgage Corporation and Subsidiaries Unaudited Consolidated Balance Sheet As of October 31, 2007 ASSETS Cash $9,778,000 Restricted cash 10,449,000 Mortgage loans held for sale, net 516,987,000 Mortgage loans held for investment, net 3,155,468,000 Mortgage servicing rights 67,157,000 Receivable from custodian 627,151,000 Trading securities 752,000 Securities available for sale 0 Securities held to maturity 0 Accrued interest receivable (1,386,000) Premises and equipment, net 15,162,000 Goodwill, net 0 Deferred tax asset, net 16,502,000 Accounts receivable from affiliates 0 Investment in subsidiaries 0 Other Assets 43,183,000 --------------- TOTAL ASSETS $4,461,203,000 =============== LIABILITIES & EQUITY Warehouse lines of credit $523,011,000 Repurchase agreements 0 Loan funding payable 21,631,000 Accrued interest payable 0 Accrued expenses 24,506,000 Other accounts payable (18,562,000) Accounts payable to affiliates 589,000 Collaterized debt obligations 3,661,112,000 Junior subordinated debentures representing 175,260,000 obligations for trust preferred securities --------------- Total liabilities 4,387,547,000 Minority interest 64,000 Shareholders Equity: Preferred stock 47,992,000 Common stock 571,000 Additional paid-in capital 278,865,000 Accumulated deficit (235,932,000) Treasury stock (17,904,000) Accumulated other comprehensive (loss) income 0 --------------- Total shareholder's equity 73,592,000 --------------- TOTAL LIABILITIES & EQUITY $4,461,203,000 =============== HomeBanc Mortgage Corporation and Subsidiaries Unaudited Consolidated Statement of Operations For the Month Period Ended October 31, 2007 REVENUES Net interest income: Interest income: Mortgage loans including fees ($16,102,000) Securities available for sale 0 Securities held to maturity 0 Trading securities 0 --------------- Total interest income (16,102,000) Total interest expense (17,241,000) --------------- Net interest income (33,343,000) Provision for loan losses 0 --------------- Net interest income after provision for loan (33,343,000) losses Net gain on sale of mortgage loans (29,000) Net gain on sale of securities available 1,000 for sale Mortgage servicing income, net (208,000) Other revenue 538,000 --------------- Total revenues (33,041,000) EXPENSES Salaries and associate benefits, net 915,000 Goodwill impairment 0 Marketing and promotions (26,000) Occupancy and equipment 300,000 Depreciation and amortization 490,000 Minority interest 0 Other operating expense 1,316,000 --------------- Total expenses 2,995,000 --------------- Loss before income taxes (36,036,000) Income tax expense 0 --------------- Net loss ($36,036,000) =============== HomeBanc Mortgage Corporation and Subsidiaries Consolidated Statement of Cash Flows For the Ten-Month Period Ended October 31, 2007 OPERATING ACTIVITIES Net loss ($170,860,000) Adjustments to reconcile net loss to net cash (used in) provided by operating activities: Goodwill impairment 39,995,000 Depreciation and amortization 6,344,000 Net amortization of premium/accretion of (1,064,000) discount on investment securities Provision for loan losses (3,830,000) Provision for losses associated with certain (5,104,000) loan sales and mortgage loans held for sale Gain on sale of securities available for sale (24,003,000) Capitalization of mortgage servicing rights (23,172,000) Change in fair value of mortgage servicing (77,000) rights Loss on disposal of premises and equipment 27,492,000 Stock-based compensation, net 2,678,000 Compensation expense for Sales Equity Plan, net 158,000 Cumulative effect of change in accounting 0 principle Minority interest 22,000 Deferred taxes 5,716,000 Decrease (increase) in restricted cash 117,584,000 (Increase) decrease in mortgage loans held for (137,688,000) sale, net Increase in trading securities 4,072,000 Decrease in receivable from custodian (549,539,000) Decrease (increase) in accrued interest 23,773,000 receivable Decrease (interest) in other assets 74,313,000 (Decrease) increase in accrued interest (9,144,000) payable Decrease in other liabilities (70,565,000) --------------- Net cash (used in) provided by operating activities (692,899,000) INVESTING ACTIVITIES Net principal collections of mortgage loans held 1,215,060,000 for investment Purchases of premises and equipment, net (3,592,000) Purchases of investment securities available 0 for sale Proceeds from the sale of securities available 1,509,386,000 for sale Proceeds from maturities and prepayments of 49,274,000 investment securities available for sale Purchase of investment securities held to 0 maturity Proceeds from maturities and prepayments of 10,553,000 investment securities held to maturity --------------- Net cash provided by (used in) investing activities 2,780,681,000 FINANCING ACTIVITIES Increase (decrease) in warehouse credit 118,246,000 facilities, net (Decrease) increase in repurchase agreements, (1,527,470,000) net Net change in loan funding payable (42,224,000) Proceeds from debt issuance 0 Repayment of debt (615,914,000) Proceeds from issuance of preferred stock, net 0 Purchase of shares under share repurchase prog (16,499,000) Purchase of shares under Sales Equity Plan 0 Cash dividends paid (15,130,000) --------------- Net cash (used in) provided by financing activities (2,098,991,000) --------------- Net increase (decrease) in cash (11,209,000) Cash and cash equivalents at beginning of period 20,987,000 --------------- Cash and cash equivalents at end of period $9,778,000 =============== HomeBanc Mortgage together with five affiliates filed for chapter 11 protection on Aug. 9, 2007 (Bankr. D. Del. Case Nos. 07-11079 through 07-11084). Joel A. Waite, Esq., at Young, Conaway, Stargatt & Taylor was selected by the Debtors to represent them in these cases. The Debtors' financial condition as of June 30, 2007, showed total assets of $5,100,000,000 and total liabilities of $4,900,000,000. The Debtors' exclusive period to file a plan ends on April 7, 2008. (HomeBanc Bankruptcy News, Issue No. 14; Bankruptcy Creditors' Services Inc. http://bankrupt.com/newsstand/or 215/945-7000). HOMEBANC CORP: Amends Schedules of Assets and Liabilities --------------------------------------------------------- On Nov. 8, 2007, pursuant to Rule 1009(a) of the Federal Rules of Bankruptcy Procedure and Rule 1009-2 of the Local Rules of Bankruptcy Practice and Procedure of the United States Bankruptcy Court for the District of Delaware, HomeBanc Corp. amended Schedule F of its schedules of assets and liabilities. HomeBanc lists as $0 the total claim amounts of these creditors: -- Hiwot Mekonnen; -- Kyiesha Shepard; and -- Sharon Thompson. Headquartered in Atlanta, Ga., HomeBanc Mortgage Corporation -- http://www.homebanc.com/-- is a mortgage banking company focused on originating primarily prime purchase money residential mortgage loans in the Southeast United States. HomeBanc Mortgage together with five affiliates filed for chapter 11 protection on Aug. 9, 2007 (Bankr. D. Del. Case Nos. 07-11079 through 07-11084). Joel A. Waite, Esq., at Young, Conaway, Stargatt & Taylor was selected by the Debtors to represent them in these cases. The Debtors' financial condition as of June 30, 2007, showed total assets of $5,100,000,000 and total liabilities of $4,900,000,000. The Debtors' exclusive period to file a plan ends on April 7, 2008. (HomeBanc Bankruptcy News, Issue No. 14; Bankruptcy Creditors' Services Inc. http://bankrupt.com/newsstand/or 215/945-7000). HOMEBANC CORP: HB Funding Amends Schedules of Assets and Debts -------------------------------------------------------------- On Nov. 8, 2007, pursuant to Rule 1009(a) of the Federal Rules of Bankruptcy Procedure and Rule 1009-2 of the Local Rules of Bankruptcy Practice and Procedure of the United States Bankruptcy Court for the District of Delaware, HomeBanc Funding Corp. amended Schedule F of its Schedules of Assets and Liabilities. HB Funding lists as $0 the total claim amounts of these creditors: -- Hiwot Mekonnen; -- Kyiesha Shepard; and -- Sharon Thompson. Headquartered in Atlanta, Ga., HomeBanc Mortgage Corporation -- http://www.homebanc.com/-- is a mortgage banking company focused on originating primarily prime purchase money residential mortgage loans in the Southeast United States. HomeBanc Mortgage together with five affiliates filed for chapter 11 protection on Aug. 9, 2007 (Bankr. D. Del. Case Nos. 07-11079 through 07-11084). Joel A. Waite, Esq., at Young, Conaway, Stargatt & Taylor was selected by the Debtors to represent them in these cases. The Debtors' financial condition as of June 30, 2007, showed total assets of $5,100,000,000 and total liabilities of $4,900,000,000. The Debtors' exclusive period to file a plan ends on April 7, 2008. (HomeBanc Bankruptcy News, Issue No. 14; Bankruptcy Creditors' Services Inc. http://bankrupt.com/newsstand/or 215/945-7000). HOMEBANC CORP: HB Funding II Amends Schedules of Assets and Debts ----------------------------------------------------------------- On Nov. 8, 2007, pursuant to Rule 1009(a) of the Federal Rules of Bankruptcy Procedure and Rule 1009-2 of the Local Rules of Bankruptcy Practice and Procedure of the United States Bankruptcy Court for the District of Delaware, HomeBanc Funding Corp. II amended Schedule F of its Schedules of Assets and Liabilities. HB Funding II lists as $0 the total claim amounts of these creditors: -- Hiwot Mekonnen; -- Kyiesha Shepard; and -- Sharon Thompson. Headquartered in Atlanta, Ga., HomeBanc Mortgage Corporation -- http://www.homebanc.com/-- is a mortgage banking company focused on originating primarily prime purchase money residential mortgage loans in the Southeast United States. HomeBanc Mortgage together with five affiliates filed for chapter 11 protection on Aug. 9, 2007 (Bankr. D. Del. Case Nos. 07-11079 through 07-11084). Joel A. Waite, Esq., at Young, Conaway, Stargatt & Taylor was selected by the Debtors to represent them in these cases. The Debtors' financial condition as of June 30, 2007, showed total assets of $5,100,000,000 and total liabilities of $4,900,000,000. The Debtors' exclusive period to file a plan ends on April 7, 2008. (HomeBanc Bankruptcy News, Issue No. 14; Bankruptcy Creditors' Services Inc. http://bankrupt.com/newsstand/or 215/945-7000). HOMEBANC CORP: HMB Corp. Amends Schedules of Assets and Debts ------------------------------------------------------------- On Nov. 8, 2007, pursuant to Rule 1009(a) of the Federal Rules of Bankruptcy Procedure and Rule 1009-2 of the Local Rules of Bankruptcy Practice and Procedure of the United States Bankruptcy Court for the District of Delaware, HomeBanc Mortgage Corporation amended Schedule F of its Schedules of Assets and Liabilities. HBMC lists as $0 the total claim amounts of these creditors: -- Adam D. Rodes; -- Alexander Wahab; -- Alison Morgan Cockrill; -- Bradford T. King; -- Brent A. Davis; -- Brian Bhala; -- Craig Lemhalt; -- Dennis Mozser; -- Hiwot Mekonnen; -- James David Lee, III; -- Jennifer Byrd; -- John D. Litras; -- Joseph G. Clements, Jr.; -- Karla M. Gil; -- Kimberly Gilluly; -- Kyiesha Shepard; -- Mark V. Skelton; -- Natalie A. Hixson; -- Ralph Stephens; -- Sharon Thompson; -- Sheila Maxwell; -- Steve Thompson; -- Tasha White; -- William B. Kirk; -- William Grier Hixson; and -- William T. Shirley. Headquartered in Atlanta, Ga., HomeBanc Mortgage Corporation -- http://www.homebanc.com/-- is a mortgage banking company focused on originating primarily prime purchase money residential mortgage loans in the Southeast United States. HomeBanc Mortgage together with five affiliates filed for chapter 11 protection on Aug. 9, 2007 (Bankr. D. Del. Case Nos. 07-11079 through 07-11084). Joel A. Waite, Esq., at Young, Conaway, Stargatt & Taylor was selected by the Debtors to represent them in these cases. The Debtors' financial condition as of June 30, 2007, showed total assets of $5,100,000,000 and total liabilities of $4,900,000,000. The Debtors' exclusive period to file a plan ends on April 7, 2008. (HomeBanc Bankruptcy News, Issue No. 14; Bankruptcy Creditors' Services Inc. http://bankrupt.com/newsstand/or 215/945-7000). HOMEBANC CORP: HMB Acceptance Amends Schedules of Assets and Debts ------------------------------------------------------------------ On Nov. 8, 2007, pursuant to Rule 1009(a) of the Federal Rules of Bankruptcy Procedure and Rule 1009-2 of the Local Rules of Bankruptcy Practice and Procedure of the United States Bankruptcy Court for the District of Delaware, HMB Acceptance Corp. amended Schedule F of its Schedules of Assets and Liabilities. HMB Acceptance lists as $0 the total claim amounts of these creditors: -- Hiwot Mekonnen; -- Kyiesha Shepard; and -- Sharon Thompson. Headquartered in Atlanta, Ga., HomeBanc Mortgage Corporation -- http://www.homebanc.com/-- is a mortgage banking company focused on originating primarily prime purchase money residential mortgage loans in the Southeast United States. HomeBanc Mortgage together with five affiliates filed for chapter 11 protection on Aug. 9, 2007 (Bankr. D. Del. Case Nos. 07-11079 through 07-11084). Joel A. Waite, Esq., at Young, Conaway, Stargatt & Taylor was selected by the Debtors to represent them in these cases. The Debtors' financial condition as of June 30, 2007, showed total assets of $5,100,000,000 and total liabilities of $4,900,000,000. The Debtors' exclusive period to file a plan ends on April 7, 2008. (HomeBanc Bankruptcy News, Issue No. 14; Bankruptcy Creditors' Services Inc. http://bankrupt.com/newsstand/or 215/945-7000). HOMEBANC CORP: HMB Mortgage Amends Schedules of Assets and Debts ---------------------------------------------------------------- On November 8, 2007, pursuant to Rule 1009(a) of the Federal Rules of Bankruptcy Procedure and Rule 1009-2 of the Local Rules of Bankruptcy Practice and Procedure of the United States Bankruptcy Court for the District of Delaware, HMB Mortgage Partners, LLC, amended Schedule F of its Schedules of Assets and Liabilities. HMB Mortgage lists as $0 the total claim amounts of these creditors: -- Hiwot Mekonnen; -- Kyiesha Shepard; and -- Sharon Thompson. Headquartered in Atlanta, Ga., HomeBanc Mortgage Corporation -- http://www.homebanc.com/-- is a mortgage banking company focused on originating primarily prime purchase money residential mortgage loans in the Southeast United States. HomeBanc Mortgage together with five affiliates filed for chapter 11 protection on Aug. 9, 2007 (Bankr. D. Del. Case Nos. 07-11079 through 07-11084). Joel A. Waite, Esq., at Young, Conaway, Stargatt & Taylor was selected by the Debtors to represent them in these cases. The Debtors' financial condition as of June 30, 2007, showed total assets of $5,100,000,000 and total liabilities of $4,900,000,000. The Debtors' exclusive period to file a plan ends on April 7, 2008. (HomeBanc Bankruptcy News, Issue No. 14; Bankruptcy Creditors' Services Inc. http://bankrupt.com/newsstand/or 215/945-7000). LEVITT & SONS: LAS Lake County Files Schedules of Assets & Debts ---------------------------------------------------------------- Levitt and Sons of Lake County LLC submitted to the U.S. Bankruptcy Court for the Southern District of Florida its schedules of assets and liabilities, disclosing: A. Real Property $23,080,461 B. Personal Property B.1 Cash on hand 0 B.2 Bank Accounts 0 B.3 Security Deposit - prepaid deposits 3,794 B.4 Household goods 0 B.5 Book, artwork and collectibles 0 B.6 Wearing apparel 0 B.7 Furs and jewelry 0 B.8 Firearms and other equipment 0 B.9 Insurance Policies 0 B.10 Annuities 0 B.11 Interests in an education IRA 0 B.12 Interests in pension plans 0 B.13 Stock and Interests 0 B.14 Interests in partnerships & joint venture 0 B.15 Government and corporate bonds 0 B.16 Accounts Receivable Classic Pavers of Central Florida LLC 2,336 Clermont Security & Sound 2,537 Innovative Enterprises Central Florida 3,800 L & Jim Painting Inc Central Florida 6,089 Quality Concrete Central Florida 55,222 Real Stone & Granite Co Central Florida 6,519 Unltd Marble Central Florida 905 B.17 Alimony 0 B.18 Other Liquidated Debts Owing Debtor 0 B.19 Equitable or future interests 0 B.20 Interests in estate death benefit plan 0 B.21 Other Contingent and Unliquidated Claims 0 B.22 Patents 0 B.23 Licenses, franchises & other intangibles 0 B.24 Customer lists or other compilations 0 B.25 Vehicles 0 B.26 Boats, motors and accessories 0 B.27 Aircraft and accessories 0 B.28 Office Equipment 0 B.29 Equipment and Supplies for Business 0 B.30 Inventory 0 B.31 Animals 0 B.32 Crops 0 B.33 Farming equipment and implements 0 B.34 Farm supplies, chemicals and feed 0 B.35 Other Personal Property 0 TOTAL SCHEDULED ASSETS $23,161,663 ========================================================= C. Property Claimed as Exempt $0 D. Creditors Holding Secure