TCR_Public/071201.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

           Saturday, 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 Secured Claims                103,859,044

E.   Creditors Holding Unsecured Priority Claims       1,488,603

F.   Creditors Holding Unsecured Non-priority Claims   2,383,727
     Trade payable - M & N Construction Inc Central      237,947
       Florida
     Trade payable - Concepts in Greenery Inc.           189,919
     Trade payable - Energy Air Inc Central Florida      153,162
     Trade payable - Dewitt Excavating Inc.               92,774
     Trade payable - Garrard Carpentry Inc.               85,060
     Trade payable - Palmer Electric Co                   78,072
     Trade payable - V & V Const Svcs Inc. Central        67,950
       Florida
     Trade payable - others                            1,161,321
     Litigation - (contact information unknown)     Undetermined
     Litigation - FPL Fibernet LLC                  Undetermined
     Litigation - Groveland Services LLC            Undetermined
     Retention - Palmer Electric Co                       88,964
     Retention - Garrard Carpentry Inc.                   40,642
     Retention - Swell Construction Co.                   33,322
     Retention - others                                  154,594
     Commission Payables                                       0
  
       TOTAL SCHEDULED LIABILITIES                  $107,731,374
       =========================================================

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.

The Debtors' exclusive period for filing a reorganization plan
ends March 8, 2008.

(Levitt and Sons Bankruptcy News, Issue No. 5; Bankruptcy
Creditors' Service Inc.; http://bankrupt.com/newsstand/or  
215/945-7000)


LEVITT & SONS: LAS Hawk Haven Files Schedules of Assets and Debts
-----------------------------------------------------------------
Levitt and Sons at Hawks Haven LLC submitted to the U.S.
Bankruptcy Court for the Southern District of Florida its
schedules of assets and liabilities, disclosing:

A.   Real Property                                    $9,600,331
  
B.   Personal Property
B.1  Cash on hand                                          2,800
B.2  Bank Accounts                                             0
B.3  Security Deposit                                          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                                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                    
     Capri Engineering Sw FI                                 337
     Southern Building Prod Central Florida                  660
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                         $9,604,128
       =========================================================  

C.   Property Claimed as Exempt                                0
  
D.   Creditors Holding Secured Claims               $103,859,044
  
E.   Creditors Holding Unsecured Priority Claims         877,173
  
F.   Creditors Holding Unsecured Non-priority Claims
     Trade payable - Coleman Floors Co Se FI             115,638
     Trade payable - Gulf Western Roofing                 64,563
     Trade Payable - Juniper Landscaping Inc.             74,312
     Trade payable - Pro Frame Cont Inc.                 133,208
     Trade payable - Jjr Construction Co                  47,211
     Trade payable - Melco Electric Inc.                  44,397
     Trade payable - Cox Lumber Co.                       44,599
     Trade payable - Distinctive Kitchens & Baths Inc.    33,457
     Trade payable - Jim Carrigan Corp                    26,833
     Trade payable - Lawson Industries Inc.               23,240
     Trade payable - Precision Drywall                    43,894
     Trade payable - Precast Wall Systems Inc.            36,760
     Trade payable - Pool People West Inc.                30,414
     Trade payable - Southern Living                      24,105
     Trade payable - Samsone Corp.                        22,839
     Trade payable - Royal Const Group Inc.               20,506
     Trade payable - Carter Pritchett Advertising Inc.    17,540
     Trade payable - Jade Home decor Inc. South Fl        17,444
     Trade payable - Krieger Kitchens                     16,555
     Trade payable - Custom Plastering Inc.               16,135
     Trade payable - International Marble Co.             15,245
     Trade payable - Southern Building Products           15,089
     Retention - Mitchell & Stark Const.                  34,051
     Others                                              250,836

       TOTAL SCHEDULED LIABILITIES                  $105,840,703
       =========================================================

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.

The Debtor's exclusive period for filing a reorganization plan
ends March 8, 2008.

(Levitt and Sons Bankruptcy News, Issue No. 5; Bankruptcy
Creditors' Service Inc.; http://bankrupt.com/newsstand/or  
215/945-7000)


VESTA INSURANCE: Gordon Gaines Files Oct. 2007 Operating Report
---------------------------------------------------------------

                      J. Gordon Gaines, Inc.
                         Income Statement
                   Month Ended October 31, 2007

Revenue from Total Sales                                     $0
Less:
   Cost of Sales                                              0
                                                   ------------
Gross Profit                                                  0

Less:
   Operating Expenses                                   (68,224)
                                                   ------------
Net Profit Operations                                    68,224

Non-Operating Income (Expenses)
   Interest Earned                                        1,866
   State Tax Refunds                                          0
   Non-operational income                                59,034
   Sale of Property                                           0
   Stale Dated Checks Written Off                             0
   Miscellaneous Income                                       0
                                                   ------------
Net Profit (Loss)                                      $129,124
                                                   ============

                      J. Gordon Gaines, Inc.
            Schedule of Cash Receipts and Disbursements
                   Month Ended October 31, 2007

Cash On Hand (Beginning)                               $576,077

Cash Receipts:
   Accounts Receivable                                        0
   Management Fees                                            0
   Loan Proceeds                                              0
   Sale of Property                                           0
   Interest Earned                                        1,866
   State Tax Refunds  
   Non-operational Income                                59,034
   Funding by Texas Receiver                                  0
   Funding under post confirmation                      199,766   
   Intercompany insurance operations                          0
   Miscellaneous Income                                       0
                                                   ------------
Total Receipts                                          260,666

Cash Disbursements:
   Business Disbursements Form BA-02(B)                 131,543
                                                   ------------
   Surplus Or Deficit                                   129,124
                                                   ------------
   Cash on Hand (End)                                  $705,201
                                                   ============

Headquartered in Birmingham, Alabama, Vesta Insurance Group, Inc.
(Other OTC: VTAI.PK) -- http://www.vesta.com/-- is a holding          
company for a group of insurance companies that primarily offer
property insurance in targeted states.

Wyatt R. Haskell, Luther S. Pate, UV, and Costa Brava Partnership
III, L.P., filed an involuntary chapter 7 petition against the
company on July 18, 2006 (Bankr. N.D. Ala. Case No. 06-02517).
The case was converted to a voluntary chapter 11 case on Aug. 8,
2006 (Bankr. N.D. Ala. Case No. 06-02517).  Eric W. Anderson,
Esq., at Parker Hudson Rainer & Dobbs, LLP, represents the Debtor.
R. Scott Williams, Esq., at Haskell Slaughter Young & Rediker,
LLC, represents the petitioning creditors.  In its schedules of
assets and liabilities, Vesta listed $14,919,938 in total assets
and $214,278,847 in total liabilities.

J. Gordon Gaines Inc. is a Vesta Insurance-owned unit that
manages the company's numerous insurance subsidiaries and employs
the headquarters workers.  The company filed for chapter 11
protection on Aug. 7, 2006 (Bankr. N.D. Ala. Case No. 06-02808).
Eric W. Anderson, Esq., at Parker Hudson Rainer & Dobbs, LLP,
represent the Debtor in its restructuring efforts.   In its
schedules of assets and liabilities, Gaines listed $19,818,094 in
total assets and $16,046,237 in total liabilities.

On Aug. 1, 2006, the District Court of Travis County, Texas
entered an order appointing the Texas Commissioner of Insurance
as Liquidator of Vesta Insurance's Texas-domiciled subsidiaries:
Vesta Fire Insurance Corporation; The Shelby Insurance Company;
Shelby Casualty Insurance Corporation; Texas Select Lloyds
Insurance Company; and Select Insurance Services, Inc.

On Oct. 11, 2006, both Vesta and Gaines filed separate Plans of
Liquidation and Disclosure Statements.  They filed an amended Plan
on Nov. 7, 2006, and a Second Amended Plan on Nov. 10, 2006.  The
Court approved the Disclosure Statements of Vesta and Gaines on
Nov. 10, 2006.  On Dec. 22, 2006, the Court confirmed the Third
Amended Plans of Vesta and Gaines.

Florida Select Insurance Agency Inc., an affiliate, filed for
chapter 11 protection on April 24, 2007 (Bankr. N.D. Ala. Case No.
07-01849).  Rufus Dorsey, IV, Esq., at Parker Hudson Rainer &
Dobbs LLP, represents Florida Select.  FSIA's exclusive period to
file a plan of reorganization expires on Dec. 20, 2007.  (Vesta
Bankruptcy News, Issue No. 29; Bankruptcy Creditors' Service,
Inc., http://bankrupt.com/newsstand/or 215/945-7000)

                             *********

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

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

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

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

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

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

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

                             *********

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

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

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

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $775 for 6 months delivered via e-
mail. Additional e-mail subscriptions for members of the same firm
for the term of the initial subscription or balance thereof are
$25 each.  For subscription information, contact Christopher Beard
at 240/629-3300.

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