TCR_Public/080112.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, January 12, 2008, Vol. 12, No. 10

                             Headlines



AEGIS MORTGAGE: Posts $65,792,995 Net Loss in October 1-31, 2007
ARMSTRONG WORLD: Desseaux Files November 2007 Operating Report
ARMSTRONG WORLD: Nitram Files November 2007 Operating Report
CATHOLIC CHURCH: Davenport Files Operating Report for Nov. 2007
DELPHI CORPORATION: Amends November 2007 Monthly Operating Report

DURA AUTOMOTIVE: Posts $12,399,000 Net Loss in November 2007
FIRST MAGNUS: Incurs $8,107,038 Net Loss in Month Ended Nov. 30
LEVITT AND SONS: Files November 2007 Monthly Operating Report
MORTGAGE LENDERS: Posts $1,875,004 Net Loss in September 2007
MORTGAGE LENDERS: Posts $531,251 Net Loss in Month Ended Oct. 31

MOVIE GALLERY: Posts $117,146,000 Net Loss in Month Ended Nov. 4
MOVIE GALLERY: Earns $36,439,000 in Month Ended December 2, 2007
PACIFIC LUMBER: ScoPac Files November 2007 Operating Report
PACIFIC LUMBER: Scotia Dev't Files November 2007 Operating Report
POPE & TALBOT: Files Schedules of Assets and Liabilities

POPE & TALBOT: P&T Ltd. Files Schedules of Assets and Debts
POPE & TALBOT: P&T Lumber Files Statement of Assets and Debts
POPE & TALBOT: P&T Spearfish Files Statement of Assets and Debts



                             *********

AEGIS MORTGAGE: Posts $65,792,995 Net Loss in October 1-31, 2007
----------------------------------------------------------------

                Aegis Mortgage Corporation, et al.
                    Consolidated Balance Sheet
                      As of October 31, 2007

                              Assets

Unrestricted Cash & Equivalents                     $18,249,891
Restricted Cash and Equivalents                      20,191,821
                                                 --------------
  Total Cash and Cash Equivalents                    38,441,713


Prime loans                                          13,727,487
Nonconforming Loans                                  12,265,214
Loan Premium, net                                     2,013,671
Repurchased Loans                                    17,095,280
Loan Loss Reserve                                             -
                                                 --------------
  Mortgage Loans Held for Sale                       45,101,652


ABS Nonconforming                                 3,659,308,285
ABS Loan Premium, net                              (19,716,325)
ABS Loan Loss Reserve                             (224,668,594)
                                                 --------------
  Mortgage Loans Held for Investment              3,414,923,366

Accrued Interest - Loans Held for Sale                        -
Accrued Int. - Loans Held for Investment             26,182,789
                                                 --------------
Accrued Interest Receivable                          26,182,789

Mortgage Servicing Rights                                     -
Property and Equipment, net                           6,367,886
Deferred Income Taxes                               131,270,981
Goodwill                                                      -
Prepaid Rent and Deposits                               944,160
Derivative Assets                                     6,123,593
Receivable for Advances                              44,950,230
Servicer Related                                        427,094
Other Assets                                        641,295,468
Intercompany Receivable                                       -
                                                 --------------
TOTAL ASSETS                                     $4,356,028,930
                                                 ==============

                Liabilities & Shareholder's
Equity

N/P Warehouse - Prime
540,186,233
N/p Warehouse - Nonconforming                        25,222,476
N/P Warehouse - Other                                19,550,612
N/P Warehouse - Repurchased                          11,933,754
                                                 --------------
Revolving Warehouse and
  Repurchase Facilities                             596,893,074

Bonds Payable                                     3,512,560,457
NAS IO Bonds Payable                                 20,700,000
NIM Bonds Payable                                    53,185,643
Bond Premium, net                                   (24,254,884)
                                                 --------------
  Bond Financing on Mortgage                      3,562,191,215
  Loans Held for Investment

  Subordinated Debt                                 177,156,872
  Accrued Interest Payable                            8,175,037
  Accounts Payable and
   Accrued Expenses                                  88,964,944
  Notes Payable-Other                                         -
                                                 --------------
Total Liabilities                                 4,433,381,142

Common Stock                                             97,386
Preferred Stock                                         104,000
Other Comprehensive Income                                    -
Paid in Capital                                      50,959,490
Distributions                                                 -
Treasury Stock                                                -
Dividends                                               (32,500)
Retained Earnings                                    91,041,942
Current Net Income Prepetition                     (101,661,579)
Current Net Income                                 (117,860,951)
                                                 --------------
Total Equity                                        (77,352,212)
                                                 --------------
TOTAL LIABILITIES & EQUITY                       $4,356,028,930
                                                 ==============



                 Aegis Mortgage Corporation, et al.
                   Consolidated Income Statement
                      October 1 to 31, 2007

Loans Held for
Sale
  Interest Income                                      $392,634
  Interest Expense                                       (1,005)
  Servicing Expense                                      (3,131)
                                                 --------------
  Net Interest Income                                   388,497

Loans Held for Investment
  Interest Income                                    28,157,314
  Interest Expense                                  (11,805,565)
  Servicing Expense                                  (1,646,971)
                                                 --------------
  Net Interest Income                                14,704,777

Gains on Sale                                         1,151,820
Premiums Paid                                           (10,596)
Loan Points                                               7,296
Loan Origination Fees                                     8,904
Broker Fees Received                                          -
                                                 --------------
  Production Income                                  (1,146,216)

Servicing and Prepayment Income                         214,472
Late Charges                                              1,903
                                                 --------------
  Total Servicing Fees                                  216,375

Other income                                        (11,785,728)
                                                 --------------
Total Revenue                                         2,377,706

Salaries                                                668,848
Bonuses                                                 540,911
Commissions                                                   -
Employee Benefits                                        15,324
Payroll Taxes                                            31,607
Meetings & Travel                                        20,757
Meals & Entertainment                                     3,612
                                                 --------------
  Total Personnel Expenses                            1,281,060

Rent                                                    232,516
Telephone                                                25,555
Office Supplies                                           2,786
Shipping & Postage                                         (618)
Equipment                                             3,069,628
                                                 --------------
  Total Office Expenses                               3,329,867

Professional expense                                    162,905
Marketing                                               (10,225)
Loan Related Expenses                                    67,576
Banking                                                     (50)
Other Taxes/Licenses/Fees                                42,470
Other Expenses                                          187,877
                                                 --------------
  Total Other Expenses                                  450,554

  Direct Operating Expense                            5,061,481
  Direct Operating Income                            (2,683,775)

Loan Loss Provision                                  62,478,487
Deferred SFAS 91 Expenses                               171,500
Sub Debt Expense                                              -
Depreciation Expense                                    459,233
Amortization                                                  -
Direct Allocation to Subs                                     -
Allocation Between Subs                                       -
                                                 --------------
  Indirect Operating Expense                         63,109,220
                                                 --------------
Total Expenses                                       68,170,701

Income (Loss) Before Taxes                          (65,792,995)

Federal and State Income Taxes                                -
                                                 --------------
Net Income (Loss)                                  ($65,792,995)
                                                 ==============

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

The company together with 10 affiliates filed for chapter 11
protection on Aug. 13, 2007 (Bankr. D. Del. Case No. 07-11119)
Curtis A. Hehn, Esq., James E. O'Neill, Esq., Laura Davis Jones,
Esq., and Timothy P. Cairns, Esq., at Pachulski, Stang, Ziehl, &
Jones, L.L.P., serve as counsel to the Debtors.  The Official
Committee of Unsecured Creditors is represented by Landis Rath &
Cobb LLP.  In schedules filed with the Court, Aegis disclosed
total assets of $138,265,342 and total debts of $4,125,470.

The Debtors' exlusive plan filing period expired Jan. 11, 2008,
but the Debtors requested on Dec. 18, 2007, for an extension to
file their plan until April 9, 2008.  (Aegis Bankruptcy News,
Issue No. 14, Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


ARMSTRONG WORLD: Desseaux Files November 2007 Operating Report
--------------------------------------------------------------
Desseaux Corporation of North America, debtor-affiliate of
Armstrong World Industries Inc. submitted its monthly operating
report for November 2007, disclosing:

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

                                ASSETS

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

                         LIABILITIES & EQUITY

Liabilities Not Subject to Compromise:
   Due to Parent Corporation                             66,805
   Payable to Nitram Liquidators - Postpetition           8,085
                                                ---------------
Total Liabilities Not Subject to Compromise              74,890

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

Shareholder's Equity:
   Common Stock                                           1,000
   Paid-in Capital                                    2,499,000
   Retained Deficit                                  (2,845,824)
                                                ---------------
Total Shareholder's Equity                             (345,824)
                                                ---------------
Total Liabilities and Owners' Equity                 $3,886,194
                                                ===============


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

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

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

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

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

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

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

Nitram Liquidators Inc. and Desseaux Corporation of North America
delivered to the Court a Joint Chapter 11 Plan of Liquidation and
an accompanying Disclosure Statement on Sept. 20, 2007.  Nitram
and Desseaux relate that their First Amended Joint Plan of
Liquidation became effective on Dec. 28, 2007.  The First Amended
Joint Plan of Liquidation was confirmed by Judge Judith K.
Fitzgerald of the U.S. Bankruptcy Court for the District
of Delaware on Dec. 17, 2007.

(Armstrong Bankruptcy News, Issue No. 120; Bankruptcy Creditors'
Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000)


ARMSTRONG WORLD: Nitram Files November 2007 Operating Report
------------------------------------------------------------
Nitram Liquidators Inc., debtor-affiliate of Armstrong World
Industries Inc., delivered its monthly operating report for
November 2007, disclosing:

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

                                ASSETS

Current Assets:
   Cash                                                 $11,752
   Accounts Receivable                                  559,035
   Reserve for Uncollectible Accounts                  (559,035)
                                                ---------------
Other Current Assets:
   Deferred Tax                                               0
   Due from Parent Corporation                          952,944
   Note Receivable from Southwest Recreation          6,334,948
   Reserve for Receivable                            (6,334,948)
                                                ---------------
Total Current Assets                                    964,695
                                                ---------------
Plant, Property and Equipment, Net                            0
Other Assets                                                  0
                                                ---------------
Total Assets                                           $964,695
                                                ===============

                         LIABILITIES & EQUITY

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

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

Shareholder's Equity:
   Common Stock                                           1,000
   Cumulative Dividends (Preferred)                   2,964,500
   Dividends                                           (284,098)
   Paid-in Capital                                    3,459,000
   Retained Deficit                                 (14,502,117)
                                                ---------------
Total Equity                                         (8,361,715)
                                                ---------------
Total Liabilities and Owners' Equity                   $964,695
                                                ===============


                        Nitram Liquidators, Inc.
                  Unaudited Statements of Operations
                     Month Ended November 30, 2007

Income                                                       $0

Operating Expenses                                            0
                                                ---------------
Operating Income (Loss)                                       0

Other Income (Expense)
   Interest Expense                                         (58)
                                                ---------------
Total Other Income                                          (58)
                                                ---------------
Income (Loss) Before Capital-related Expenses              ($58)
                                                ===============

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

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

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

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

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

Nitram Liquidators Inc. and Desseaux Corporation of North America
delivered to the Court a Joint Chapter 11 Plan of Liquidation and
an accompanying Disclosure Statement on Sept. 20, 2007.  Nitram
and Desseaux relate that their First Amended Joint Plan of
Liquidation became effective on Dec. 28, 2007.  The First Amended
Joint Plan of Liquidation was confirmed by Judge Judith K.
Fitzgerald of the U.S. Bankruptcy Court for the District
of Delaware on Dec. 17, 2007.

(Armstrong Bankruptcy News, Issue No. 120; Bankruptcy Creditors'
Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000)


CATHOLIC CHURCH: Davenport Files Operating Report for Nov. 2007
---------------------------------------------------------------

                  Diocese of Davenport in Iowa
                 Statement of Financial Position
                      As of November 30, 2007

ASSETS

Current Assets
   Cash and cash equivalents - unrestricted           $5,249,640
   Cash and cash equivalents - restricted              2,671,989
   Accounts receivable, net                              136,712
   Inventory                                                   -
   Prepaid expenses                                        2,272
   Professional retainers                                 55,652
                                                  --------------
Total Current Assets                                   8,116,265
                                                  --------------
Property and Equipment
   Real Property                                           3,000
   Machinery and equipment                                 6,000
   Furniture and fixtures                                  8,914
   Office equipment                                       59,500
   Leasehold improvements                                      -
   Vehicles                                               45,460
                                                  --------------
Total Property and Equipment                             122,874
                                                  --------------
Total Assets                                          $8,239,139
                                                  ==============

LIABILITIES AND NET ASSETS

Postpetition
   Current Liabilities:
      Salaries and wages                                       -
      Payroll taxes                                            -
      Real and personal property taxes                         -
      Income taxes                                             -
      Sales taxes                                              -
      Notes payable, short term                                -
      Accounts payable, trade                            $24,220
            Real property lease arrearage                      -
            Personal property lease arrearage                  -
      Accrued professional fees                                -
      Current portion of long-term debt                        -
      other:                                                   -
         Pass-through collections                         24,840
         Additional Accrued Vacations                      5,574
                                                  --------------
   Total Current Liabilities                              54,634
                                                  --------------
   Long-Term Postpetition Debt, Net                            -
                                                  --------------
   Total Postpetition Liabilities                         54,634
                                                  --------------
   Prepetition
      Secured claims                                           -
      Priority unsecured claims                          160,888
      General unsecured claims                        13,605,000
                                                  --------------
   Total Prepetition Liabilities                      13,765,888
                                                  --------------
     Total Liabilities                                13,820,522
                                                  --------------
Equity (deficit):
   Retained earnings/deficit at filing                 5,855,424
   Capital stock                                               -
   Additional paid-in capital                                  -
   Cumulative profit/loss since filing               (11,459,359)
   Post-petition contributions/distributions
      or draws                                                 -
   Market value adjustment                                22,552
                                                  --------------
   Total equity (deficit)                             (5,581,383)
                                                  --------------
Total liabilities & equity (deficit)                  $8,239,139
                                                  ==============



                   Diocese of Davenport in Iowa
                     Statement of Operations
                For the month ending November 30, 2007

Revenues
   Gross sales                                              $403
   Less: sales returns & allowances                            -
   Net sales                                                 403
   Less: cost of goods sold                                    -
   Gross profit                                              403
   Interest                                                2,656
   Other income:
      Charitable gifts                                   217,513
      Insurance receipts                                 133,288
      Investment income/fees                             104,247
                                                  --------------
   Total revenues                                        458,107
                                                  --------------
Expenses:
   Compensation to owner(s)/officer(s)                    12,209
   Salaries                                              105,460
   Commissions                                                 -
   Contract labor                                          5,327
   Rent/Lease:
      Personal property                                      150
      Real property                                            -
   Insurance                                              81,553
   Management fees                                             -
   Depreciation                                          (10,495)
   Taxes:
      Employer payroll taxes                               6,586
      Real property taxes                                      -
      Other taxes                                              -
   Other selling                                               -
   Other administrative                                   37,234
   Interest                                                    -
   Other expenses:
      Employee benefits                                   24,853
      Charity collection                                   1,094
      Medical assistance/Victim assistance                 1,841
      Utilities                                            4,832
      Transfer to unrestricted                                 -
      Professional fees                                        -
      Sabbatical                                               -
      Cemetery perpetual care                                  -
      Youth trip expenses                                 90,805
                                                  --------------
         Total expenses                                  361,449
                                                  --------------
   Reorganization items:
      Professional fees                                  (23,700)
      Estimate of claims payments                     (7,468,531)
      Interest earned on accumulated cash
         from resulting Chapter 11 case                        -
      Gain or (Loss) from sale of equipment                    -
             U.S. Trustee quarterly fees                       -
      Advertising/printing/mailing                             -
                                                  --------------
         Total reorganization items                   (7,492,231)
                                                  --------------
Net profit (loss) before federal &
   state taxes                                        (7,395,573)
   Federal & state income taxes                                -
                                                  --------------
Net profit (loss)                                    ($7,395,573)
                                                  ==============


                  Diocese of Davenport in Iowa
           Statement of Cash Receipts and Disbursements
              For the month ending November 30, 2007

Cash receipts
   Rent/Leases collected                                  $3,175
   Cash received from sales                                  403
   Interest received                                       2,656
   Borrowings increase in accounts payable                     -
   Funds from shareholders, partners,
      or other insiders (Sale of property)                     -
   Capital contributions                                       -
   Annual diocesan appeal/donations                      217,513
   Investment income/misc.                                     -
   Insurance receipts                                    133,288
   Tribunal/Immigration/Faith Formation fees             101,072
      Decrease in prepaid/accounts receivable                 -
   Misc./Increase in accounts payable                          -
                                                  --------------
   Total Cash Receipts                                   458,107

Cash disbursements:
   Payments for inventory                                      -
   Selling                                                     -
   Administrative                                        158,160
   Capital expenditures                                        -
   Principal payments on debt                                  -
   Interest paid                                               -
   Rent/Lease:
      Personal Property                                      150
      Real Property                                            -
   Amount paid to owner(s)/officer(s)
      Salaries                                            12,209
      Draws                                                    -
      Commissions/Royalties                                    -
      Expense Reimbursements                                   -
      Other                                                    -
   Salaries/Commissions (less employee
      withholding                                         81,664
   Management fees                                             -
   Taxes
      Employee withholding                                23,796
      Employer payroll taxes                               6,586
      Real property taxes                                      -
      Other taxes                                              -
   Other cash outflows:
      Insurance                                           81,553
      Utilities                                            4,832
      Medical Assistance                                   1,841
      Employee benefits                                   24,853
      Misc                                                47,939
                                                  --------------
   Total Cash Disbursements                              443,583
                                                  --------------
Net increase (decrease) in cash                           14,524

Cash balance, beginning of period                      1,702,729

Cash balance, end of period                           $1,717,253
                                                  ==============

The Diocese of Davenport in Iowa filed for chapter 11 protection
(Bankr. S.D. Iowa Case No. 06-02229) on October 10, 2006.
Richard A. Davidson, Esq., at Lane & Waterman LLP, represents the
Davenport Diocese in its restructuring efforts.  Hamid R.
Rafatjoo, Esq., and Gillian M. Brown, Esq., of Pachulski Stang
Zhiel Young Jones & Weintraub LLP represent the Official Committee
of Unsecured Creditors.  In its schedules of assets and
liabilities, the Davenport Diocese reported $4,492,809 in assets
and $1,650,439 in liabilities.

The Debtor was unable to file a Chapter 11 Plan of Reorganization
when its exclusive plan-filing period expired on Nov. 16, 2007.
The Court ordered the Diocese to file its Plan and disclosure
statement by Jan. 31, 2008.  The Court will convene a hearing on
March 5, 2008, 1:30 p.m. to consider approval of the Disclosure
Statement.  Judge Jackwig notes that the hearing is a "no
testimony hearing."

(Catholic Church Bankruptcy News, Issue No. 111; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000).


DELPHI CORPORATION: Amends November 2007 Monthly Operating Report
-----------------------------------------------------------------
On Jan. 4, 2008, Delphi Corporation and its debtor-affiliates
delivered to the U.S. Bankruptcy Court for the Southern District
of New York an amended version of its monthly operating report for
the month ended Nov. 30, 2007.

The purpose of the amendment, according to Delphi Corp. Chief
Accounting Officer and Controller Thomas S. Timko, is to correct
a reclassification among certain line items in the unaudited
condensed combined debtors-in-possession financial statements
included in the monthly operating report filed on Dec. 31, 2007.

The monthly and year-to-date net losses in the statement of
operations were properly reported but cost of sales was
understated and equity income (loss) earnings from non-Debtor
affiliates should have included additional income of the same
amount, Mr. Timko tells the Honorable Robert Drain.  The
reclassification also caused investments in non-Debtor affiliates
and accounts payable to non-Debtor affiliates on the balance sheet
to be understated by the same amount.

Mr. Timko relates that the monthly cash flows provided by
operating activities in the statement of cash flows were properly
reported because the reclassification impacted offsetting items
within cash flows provided by operating activities.  The amount
of the reclassification that impacted the unaudited condensed
combined debtors-in-possession financial statements included in
the originally filed MOR was $183,000,000, he discloses.

                    Delphi Corporation, et al.
           Amended Unaudited Consolidated Balance Sheet
                      As of November 30, 2007
                          (In Millions)

                              ASSETS

Current assets:
   Cash and cash equivalents                                $13
   Restricted cash                                          124
   Accounts receivable, net:
      General Motors and affiliates                       1,482
      Other third parties                                   949
      Non-Debtor affiliates                                 232
   Notes receivable from non-Debtor affiliates              286
   Inventories, net:
      Productive material, work-in-process & supplies       794
      Finished goods                                        215
   Other current assets                                     357
                                                       --------
      TOTAL CURRENT ASSETS                                4,452

Long-term assets:
   Property, net                                          1,756
   Investment in affiliates                                 380
   Investments in non-Debtor affiliates                   4,229
   Goodwill                                                 152
   Other intangible assets                                   25
   Other                                                    534
                                                       --------
      TOTAL LONG-TERM ASSETS                              7,076
                                                       --------
TOTAL ASSETS                                            $11,528
                                                       ========

              LIABILITIES AND STOCKHOLDERS' DEFICIT

Current liabilities not subject to compromise:
   Debtor-in-possession financing                        $3,301
   Accounts payable                                       1,279
   Accounts payable to non-Debtor affiliates                708
   Accrued liabilities                                    1,362
   Notes payable to non-Debtor affiliates                    66
                                                       --------
   TOTAL CURRENT LIABILITIES                              6,716

Long-term liabilities not subject to compromise:
   Employee benefit plan obligations and other            1,143

Liabilities subject to compromise                        17,008
                                                       --------
   TOTAL LIABILITIES                                     24,867

Stockholders' deficit:
   TOTAL STOCKHOLDERS' DEFICIT                          (13,339)
                                                       --------
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT             $11,528
                                                       ========


                    Delphi Corporation, et al.
      Amended Unaudited Consolidated Statement of Operations
                   Month Ended November 30, 2007
                          (In Millions)

Net sales:
   General Motors and affiliates                           $660
   Other customers                                          431
   Non-Debtor affiliates                                     54
                                                       --------
Total net sales                                           1,145
                                                       --------
Operating expenses:
   Cost of sales                                          1,206
   U.S. employee workforce transition program charges        41
   Long-lived asset impairment charges                        -
   Depreciation and amortization                             46
   Selling, general and administrative                       85
   Securities & ERISA litigation charge                       -
                                                       --------
Total operating expenses                                  1,378
                                                       --------
Operating loss                                             (233)

Interest expense                                            (41)
Loss on extinguishment of debt                               (4)
Other (expense) income, net                                  12

Reorganization items                                        (13)
Income tax benefit (expense)                                 (1)
Equity income from non-consolidated affiliates                4
Equity income from non-Debtor affiliates                     45
                                                       --------
NET LOSS                                                  ($231)
                                                       ========


                    Delphi Corporation, et al.
      Amended Unaudited Consolidated Statement of Cash Flows
                   Month Ended November 30, 2007
                          (In Millions)

Cash flows from operating activities:
   Net loss                                               ($231)
   Adjustments to reconcile net loss
    to net cash provided by operating activities:
    Depreciation and amortization                            46
    Deferred income taxes                                    (1)
    Pension and other postretirement benefit expenses        68
    Equity income from unconsolidated affiliates             (4)
    Equity income from non-Debtor affiliates                (45)
    Reorganization items                                     13
    U.S. employee workforce transition program charges       41
    Loss on extinguishment of debt                            4
   Changes in operating assets and liabilities:
    Accounts receivable, net                                 55
    Inventories, net                                         69
    Other assets                                              3
    Accounts payable, accrued and other long-term debt       45
    U.S. employee workforce transition program payment      (37)
    Other postretirement benefit payments                   (20)
    Pension contributions                                    (2)
    Payments for reorganization items                       (14)
    Other                                                    17
                                                       --------
Net cash used in operating activities                         7

Cash flows from investing activities:
   Capital expenditures                                     (37)
   Decrease (increase) in restricted cash                    20
   Other                                                      2
                                                       --------
Net cash used in investing activities                       (15)

Cash flows from financing activities:
   Net proceeds from DIP facility                            22
   Repayments on borrowings from non-Debtor affiliates       (1)
                                                       --------
Net cash used in financing activities                        21
                                                       --------
Increase in cash and cash equivalents                        13
Cash and cash equivalents at beginning of period              -
                                                       --------
Cash and cash equivalents at end of period                  $13
                                                       ========

Headquartered in Troy, Michigan, Delphi Corporation (OTC: DPHIQ)
-- http://www.delphi.com/-- is the single supplier of vehicle
electronics, transportation components, integrated systems and
modules, and other electronic technology.  The company's
technology and products are present in more than 75 million
vehicles on the road worldwide.  Delphi has regional headquarters
in Japan, Brazil and France.

The company filed for chapter 11 protection on Oct. 8, 2005
(Bankr. S.D.N.Y. Lead Case No. 05-44481).  John Wm. Butler Jr.,
Esq., John K. Lyons, Esq., and Ron E. Meisler, Esq., at Skadden,
Arps, Slate, Meagher & Flom LLP, represent the Debtors in their
restructuring efforts.  Robert J. Rosenberg, Esq., Mitchell A.
Seider, Esq., and Mark A. Broude, Esq., at Latham & Watkins LLP,
represents the Official Committee of Unsecured Creditors.  As of
March 31, 2007, the Debtors' balance sheet showed $11,446,000,000
in total assets and $23,851,000,000 in total debts.

The Debtors' exclusive plan-filing period expires on March 31,
2007.  On Sept. 6, 2007, the Debtors filed their Chapter 11 Plan
of Reorganization and a Disclosure Statement explaining that
Plan, which it subsquently amended on Dec. 10, 2007.  The
confirmation hearing on that Plan is on Jan. 17, 2008.

(Delphi Bankruptcy News, Issue No. 105; Bankruptcy Creditors'
Service Inc., http://bankrupt.com/newsstand/or 215/945-7000)


DURA AUTOMOTIVE: Posts $12,399,000 Net Loss in November 2007
------------------------------------------------------------

         DURA Automotive Systems, Inc., and Subsidiaries
               Condensed Consolidated Balance Sheet
                    As of November 25, 2007
                   (In thousands of dollars)

                             ASSETS

Current assets:
  Cash and cash equivalents                             $11,660
  Accounts receivable, net
     Trade                                              110,629
     Other                                                8,373
     Non-Debtor subsidiaries                             24,197
  Inventories                                            49,021
  Other current assets                                   35,880
                                                     ----------
     Total current assets                               239,760
                                                     ----------

Property, plant and equipment, net                      131,184
Goodwill, net                                           178,611
Notes receivable from Non-Debtors subsidiaries          194,310
Investment in Non-Debtors subsidiaries                  790,647
Other noncurrent assets                                  16,883
                                                     ----------
Total Assets                                         $1,551,395
                                                     ==========

         LIABILITIES AND STOCKHOLDERS' INVESTMENT

Current liabilities:
  Debtors-in-possession financing                      $140,332
  Accounts payable                                       41,424
  Accounts payable to Non-Debtors subsidiaries            2,052
  Accrued Liabilities                                    77,506
                                                     ----------
     Total current liabilities                          261,314
                                                     ----------
Long-term Liabilities:
  Notes Payable to Non-Debtors subsidiaries               9,652
  Other noncurrent liabilities                           57,440
Liabilities Subject to Compromise                     1,310,265
                                                     ----------
Total Liabilities                                     1,638,671

Stockholders' Investment                                (87,276)
                                                     ----------
Total Liabilities and Stockholders' Investment       $1,551,395
                                                     ==========


         DURA Automotive Systems, Inc., and Subsidiaries
      Condensed Unaudited Consolidated Statement of Operations
             For the Four Weeks Ended November 25, 2007
                     (In thousands of dollars)

Total sales                                             $57,195
Cost of sales                                            56,610
                                                     ----------
Gross (loss) profit                                         585

Selling, general and administrative expenses              4,587
Facility consolidation, asset impairment
  and other charges                                         877
Amortization expense                                         19
                                                     ----------
Operating (loss) income                                  (4,898)

Interest expense, net                                     2,898
                                                     ----------
Loss before reorganization items and income taxes        (7,796)

Reorganization items                                      4,286
                                                     ----------
Loss before income taxes                                (12,082)
Provision for income taxes                                  (23)
                                                     ----------
Loss from continuing operations                          12,059
Loss from discontinued operations                           340
                                                     ----------
Net Income (Loss)                                      ($12,399)
                                                     ==========


         DURA Automotive Systems, Inc., and Subsidiaries
     Condensed Unaudited Consolidated Statements of Cash Flows
            For the Four Weeks Ended November 25, 2007
                    (In thousands of dollars)

Operating Activities:
Net Income (loss)                                      ($12,399)
Adjustments to reconcile net loss to net cash used
  in operations activities:
     Depreciation, amortization & asset impairments       2,164
     Amortization of deferred financing fees                708
      (Gain)/Loss on sale of assets                        (243)
     Reorganization items                                 4,286
Changes in other operating items:
  Accounts receivable                                     2,004
  Inventories                                                95
  Other current assets                                   (1,590)
  Noncurrent assets                                         110
  Accounts payable                                       (4,579)
  Accrued liabilities                                    (4,277)
  Noncurrent liabilities                                   (202)
  Current intercompany transactions                       7,847
                                                       --------
Net cash provided by operating activities                 6,076

Investing Activities:
Purchases of property, plant & equipment                 (1,607)
Proceeds from sales of assets                             1,075
                                                       --------
Net cash (used in) provided by investing activities         532

Financing Activities:
  DIP borrowings                                         13,708
  Payments on prepetition debt                                -
                                                       --------
Net cash used in financing activities                    13,708
Net Increase (Decrease) in Cash & Equivalents             7,100

Cash & Cash Equivalent, Beginning Balance                 4,560
                                                       --------
Cash & Cash Equivalent, Ending Balance                  $11,660
                                                       ========

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

The Debtors Plan of Reorganization was filed on Aug. 22, 2007.
The Court approved the Disclosure Statement explaining that Plan
on Oct. 3, 2007.  Plan confirmation hearing is yet to be
scheduled.  The Debtors' exlusive plan filing period expires on
Jan. 24, 2008.  (Dura Automotive Bankruptcy News, Issue No. 42;
Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/
or 215/945-7000).


FIRST MAGNUS: Incurs $8,107,038 Net Loss in Month Ended Nov. 30
---------------------------------------------------------------

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

ASSETS

Unrestricted Cash                                 $11,205,519
Restricted Cash                                            --

Accounts Receivable (net)                         119,887,434
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                                  $179,864,609
                                               ==============

POST PETITION LIABILITIES
Accounts Payable                                     $243,300
Taxes Payable                                              --
Notes Payable                                              --
Professional Fees                                          --
Secured Debt                                               --
Other                                               1,074,320
                                               --------------
   Total Postpetition Liabilities                   1,317,620

PREPETITION LIABILITIES
Secured Debt                                       32,448,227
Priority Debt                                      11,822,911
Unsecured Debt                                     67,411,209
Other                                                      --
                                               --------------
   Total Prepetition Liabilities                  111,682,347
                                               --------------
TOTAL LIABILITIES                                 112,999,968

EQUITY
Prepetition Owner's Equity                        217,787,849
Postpetition Cumulative Profit/Loss               (70,339,232)
                                               --------------
   Total Equity                                    66,864,641
                                               --------------
TOTAL LIABILITIES & OWNER'S EQUITY               $179,864,609
                                               ==============


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

REVENUES
Gross Revenue                                         $57,645
Less: Returns and Discounts                                --
                                               --------------
   Net Revenue                                         57,645

COST OF GOODS SOLD
Material                                                   --
Direct Labor                                          403,019
Direct Overhead                                            --
                                               --------------
   Total Cost of Goods Sold                           403,019
                                               --------------
   GROSS PROFIT                                       345,373

OPERATING EXPENSES
Officer/Insider Compensation                               --
General & Administrative                              322,665
Other Expenses                                             --
                                               --------------
   Total Operating Expenses                           322,665
                                               --------------
Income Before Non-Operating Income
   and Expenses                                     (668,039)
OTHER INCOME AND EXPENSE
Other Income                                               --
Other Expense                                       7,438,999
Interest Expense                                           --
Depreciation/Depletion                                     --
Amortization                                               --
Net other Income and Expense                        7,438,999
                                               --------------
Income Before Reorganization Expense              (8,107,038)

REORGANIZATION EXPENSES
Professional Fees                                          --
U.S. Trustee Fees                                          --
Other                                                      --

Income Tax                                                 --
                                               --------------
NET PROFIT OR (LOSS)                             ($8,107,038)
                                               ==============


                First Magnus Financial Corporation
                    Receipts and Disbursements
                  Month Ended November 30, 2007

Balance at Beginning of Period                    $10,849,542

RECEIPTS:                                                  --
Cash Sales                                                 --
Accounts Receivable -- Prepetition                         --
Accounts Receivable -- Postpetition                        --
Loans and Advances                                         --
Sale of Assets                                         56,328
Transfers from Other DIP Accounts                  11,600,953
Others                                              1,159,552
                                               --------------
   Total Receipts                                  12,816,833

DISBURSEMENTS:
Business -- Ordinary Operations                       727,199
Capital Improvements                                       --
Prepetition Debt                                           --
Transfers to Other DIP Accounts                    11,600,953
Others                                                132,703

Reorganization Expenses                                    --
                                               --------------
   Total Disbursements                             12,460,856

Balance at End of Month                           $11,205,519
                                               ==============

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 expired on Dec. 19,
2007.  The confirmation hearing on the Debtor's liquidation plan
is on Feb. 7, 2008.  (First Magnus Bankruptcy News, Issue No. 15;
Bankruptcy Creditors' Service Inc. http://bankrupt.com/newsstand/
or 215/945-7000).


LEVITT AND SONS: Files November 2007 Monthly Operating Report
-------------------------------------------------------------

                      Levitt and Sons, LLC
              Monthly Financial Report for Business
                  From November 10 to 30, 2007

Cash, beginning of period                            $4,267,057

Receipts:
  Cash sales                                                  0
  Collection on postpetition A/R                              0
  Collection on prepetition A/R                               0
  Other receipts                                        103,345
                                                 --------------
Total receipts                                          103,345

Total cash available for operations                   4,370,402

Disbursements:
  U.S. Trustee quarterly fees                                 0
  Net payroll                                           251,895
  Payroll taxes paid                                     87,024
  Sales and use taxes                                         0
  Other taxes                                                 0
  Rent                                                        0
  Other leases                                                0
  Telephone                                                   0
  Utilities                                                   0
  Travel & entertainment                                      0
  Vehicle expenses                                            0
  Office supplies                                             0
  Advertising                                                 0
  Insurance                                                   0
  Purchases of fixed assets                                   0
  Purchases of inventory                                      0
  Manufacturing supplies                                      0
  Repairs & maintenance                                       0
  Payments to secured creditors                               0
  Other operating expenses
    Transfer to CNB payroll account                       1,000
    Transfer to utilities escrow account                 31,256
                                                 --------------
Total cash disbursements                                371,175
                                                 --------------
Ending Cash Balance                                  $3,999,227
                                                 ==============

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 parent
company, is not included in the bankruptcy filing.

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 plan filing
period expires on March 8, 2008.  (Levitt and Sons Bankruptcy
News, Issue No. 9; Bankruptcy Creditors' Service Inc.;
http://bankrupt.com/newsstand/or 215/945-7000)


MORTGAGE LENDERS: Posts $1,875,004 Net Loss in September 2007
-------------------------------------------------------------

               Mortgage Lenders Network USA, Inc.
                          Balance Sheet
                    As of September 30, 2007

Assets:
   Cash and Cash Equivalents                         $13,621,388
   Mortgage loans held for sale                                0
   Portfolio loans                                             0
   Allowance for loan losses                                   0
   Capitalized Mortgage Servicing rights, net                  0
   Retained interests in securitization,
      at fair value                                            0
   Land                                                3,187,970
   Furniture, fixtures, equipment,
      an software, net                                         0
   Deferred Costs                                              0
   Principal & Interest Advances                               0
   Interest in subsidiaries                                    0
   Other Assets                                       11,243,178
                                                    ------------
      Total Assets                                   $28,052,536
                                                    ============

Liabilities:
   Accounts Payable prepetition                      $14,473,514
   Accounts Payable postpetition                         115,090
   Accrued Expenses - Payroll                            981,314
   Accrued Expenses - Other                           16,581,386
   Warehouse Borrowings                               22,284,261
   Convertible Debt                                    1,500,000
   Servicing & Working Capital Advances               54,408,435
   Capital Lease Liability                                     0
   Other liabilities                                  31,214,536
                                                    ------------
      Total Liabilities                              141,558,536

Stockholders' Equity:
   Common Stock                                          625,000
   Additional Paid-In Capital                          1,829,770
   Retained Earnings                                (115,960,770)
                                                    ------------
      Total Stockholders' Equity                    (113,506,000)
                                                    ------------
      Total Debts & Stockholders' Equity             $28,052,536
                                                    ============


               Mortgage Lenders Network USA, Inc.
           Schedule of Cash Receipts and Disbursements
                 Month Ended September 30, 2007

Cash - Beginning of Month                             $4,857,018

Receipts:
   Net Servicing Inflows
   Warehouse and Loan Sale Inflows                             0
   Sale of Fixed Assets                                        0
   Sale of Other Assets                                        0
   Other Inflows                                          23,116

   Transfers from Cash Collateral                              0

      Total Receipts                                      23,116

Disbursements:
   Net Payroll                                           106,163
   Payroll Taxes                                               0
   Medical Coverage Sub/ FSA Withholding                       0
   Operating Expenses                                    202,238
   Rent                                                        0
   Utilities                                                   0
   Insurance                                                   0
   Administrative & Selling                                    0
   Other                                                       0

   Professional Fees Escrow Account                      193,018
   Professional Fees Paid                                      0
   U.S. Trustee Fees                                           0
   DIP Fees                                                    0

   Transfers to Cash Collateral                                0
                                                    ------------
      Total Disbursements                                501,419
                                                    ------------
      Net Cash Flow                                     (478,303)
                                                    ------------
Cash - End of Month                                   $4,378,715
                                                    ============


               Mortgage Lenders Network USA, Inc.
                        Income Statement
                 Month Ended September 30, 2007

Revenue
   Gain on Sale - Subprime                                    $0
   Gain on Sale - SRP/MBS                                      0
   Mortgage origination income                                 0
   Net Warehouse interest income                               0
   Servicing income, net                                       0
   Loss on investment in MLN Depository                        0
   Other Income                                           21,049
                                                    ------------
      Total Revenues                                     $21,049
                                                    ------------

Expenses
   Salaries                                                   $0
   Overtime/Temp Help                                          0
   Bonus/Incentives                                            0
   Benefits                                                 (681)
   Rent Expense                                              480
   Telephone                                               1,171
   Repairs & Maintenances                                    360
   Office & Supplies Expense                                 120
   Postage/Express Mail                                   (9,950)
   Service Bureau                                              0
   Consulting Fees                                       103,945
   Insurance                                                   0
   Loan Loss/Foreclosure Exp.                                  0
   Appraisal/Credit Expenses                                   0
   Travel & Entertainment                                      0
   Meetings/Seminars/Education                                 0
   Membership Fees/Dues/Filings                              125
   Advertising - Other                                         0
   Interest Expense - Other                                    0
   Legal/Regulatory Expense                                  131
   Miscellaneous Expenses                                395,463
                                                    ------------
      Total Expenses Before Depreciation                 491,162

      Depreciation Expense                                     0
                                                    ------------
      Net Profit Before Reorganization Items            (470,112)

Reorganization Items
   Professional Fees                                   1,404,892
                                                    ------------
      Total Reorganization Items                       1,404,892

   Income Taxes                                                0
                                                    ------------
Net Income (Loss)                                    ($1,875,004)
                                                    ============

Middletown, Conn.-based Mortgage Lenders Network USA Inc. --
http://www.mlnusa.com/-- is a privately held company offering a
full range of Alt-A/Non-Conforming and Conforming loan products
through its retail and wholesale channels.  The company filed for
chapter 11 protection on Feb. 5, 2007 (Bankr. D. Del. Case No.
07-10146).  Pachulski Stang Ziehl & Jones LLP represents the
Debtor.  Blank Rome LLP represents the Official Committee of
Unsecured Creditors.  In the Debtor's schedules of assets and
liabilities filed with the Court, it disclosed total assets of
$464,847,213 and total debts of $556,459,464.  The Debtor's
exclusive period to file a chapter 11 plan of reorganization is
set to expire on Jan. 22, 2008.

(Mortgage Lenders Bankruptcy News, Issue No. 23; Bankruptcy
Creditors' Service Inc. http://bankrupt.com/newsstand/or 215/945-
7000).


MORTGAGE LENDERS: Posts $531,251 Net Loss in Month Ended Oct. 31
----------------------------------------------------------------

               Mortgage Lenders Network USA, Inc.
                          Balance Sheet
                     As of October 31, 2007

Assets:
   Cash and Cash Equivalents                         $12,012,702
   Mortgage loans held for sale                                0
   Portfolio loans                                             0
   Allowance for loan losses                                   0
   Capitalized Mortgage Servicing rights, net                  0
   Retained interests in securitization,
      at fair value                                            0
   Furniture, fixtures, equipment,
      an software, net                                         0
   Land                                                3,187,970
   Deferred Costs                                              0
   Principal & Interest Advances                               0
   Interest in subsidiaries                                    0
   Other Assets                                       11,243,178
                                                    ------------
      Total Assets                                   $26,443,850
                                                    ============

Liabilities:
   Accounts Payable prepetition                      $14,473,514
   Accounts Payable postpetition                          75,547
   Accrued Expenses - Payroll                            981,314
   Accrued Expenses - Other                           15,508,495
   Warehouse Borrowings                               22,284,261
   Convertible Debt                                    1,500,000
   Servicing & Working Capital Advances               54,408,435
   Capital Lease Liability                                     0
   Other liabilities                                  31,209,991
                                                    ------------
      Total Liabilities                              140,441,557

Stockholders' Equity:
   Common Stock                                          625,000
   Additional Paid-In Capital                          1,829,770
   Retained Earnings                                (116,452,478)
                                                    ------------
      Total Stockholders' Equity                    (113,997,708)
                                                    ------------
      Total Debts & Stockholders' Equity             $26,443,850
                                                    ============


               Mortgage Lenders Network USA, Inc.
           Schedule of Cash Receipts and Disbursements
                  Month Ended October 31, 2007

Cash - Beginning of Month                             $4,378,715

Receipts:
   Net Servicing Inflows                                       0
   Warehouse and Loan Sale Inflows                             0
   Sale of Fixed Assets                                        0
   Sale of Other Assets                                        0
   Other Inflows                                         157,535

   Transfers from Cash Collateral
                                                    ------------
      Total Receipts                                     157,535

Disbursements:
   Net Payroll                                           118,287
   Payroll Taxes                                               0
   Medical Coverage Sub/ FSA Withholding                       0
   Operating Expenses                                    174,523
   Rent                                                        0
   Utilities                                                   0
   Insurance                                                   0
   Administrative & Selling                                    0
   Other                                                       0

   Professional Fees Escrow Account                    1,496,647
   Professional Fees Paid                                      0
   U.S. Trustee Fees                                           0
   DIP Fees                                                    0

   Transfers to Cash Collateral                                0
                                                    ------------
      Total Disbursements                              1,789,457
                                                    ------------
      Net Cash Flow                                   (1,631,922)
                                                    ------------
Cash - End of Month                                   $2,746,793
                                                    ============


               Mortgage Lenders Network USA, Inc.
                        Income Statement
                  Month Ended October 31, 2007

Revenue
   Gain on Sale - Subprime                                    $0
   Gain on Sale - SRP/MBS                                      0
   Mortgage origination income                                 0
   Net Warehouse interest income                               0
   Servicing income, net                                       0
   Loss on investment in MLN Depository                        0
   Other Income                                          181,941
                                                    ------------
      Total Revenues                                    $181,941
                                                    ------------

Expenses
   Salaries                                                   $0
   Overtime/Temp Help                                          0
   Bonus/Incentives                                            0
   Benefits                                                    0
   Rent Expense                                           16,393
   Telephone                                                 552
   Repairs & Maintenances                                      0
   Office & Supplies Expense                                  54
   Postage/Express Mail                                      278
   Service Bureau                                        131,447
   Consulting Fees                                       136,956
   Insurance                                                   0
   Loan Loss/Foreclosure Exp.                              3,999
   Appraisal/Credit Expenses                                   0
   Travel & Entertainment                                    572
   Meetings/Seminars/Education                                 0
   Membership Fees/Dues/Filings                                0
   Advertising - Other                                         0
   Interest Expense - Other                                    0
   Legal/Regulatory Expense                                  436
   Miscellaneous Expenses                                  1,358
                                                    ------------
      Total Expenses Before Depreciation                 292,047

      Depreciation Expense                                     0
                                                    ------------
      Net Profit Before Reorganization Items            (110,106)

Reorganization Items
   Professional Fees                                     421,145
                                                    ------------
      Total Reorganization Items                         421,145

   Income Taxes                                                0
                                                    ------------
Net Income (Loss)                                     ($531,251)
                                                    ============

Middletown, Conn.-based Mortgage Lenders Network USA Inc. --
http://www.mlnusa.com/-- is a privately held company offering a
full range of Alt-A/Non-Conforming and Conforming loan products
through its retail and wholesale channels.  The company filed for
chapter 11 protection on Feb. 5, 2007 (Bankr. D. Del. Case No.
07-10146).  Pachulski Stang Ziehl & Jones LLP represents the
Debtor.  Blank Rome LLP represents the Official Committee of
Unsecured Creditors.  In the Debtor's schedules of assets and
liabilities filed with the Court, it disclosed total assets of
$464,847,213 and total debts of $556,459,464.  The Debtor's
exclusive period to file a chapter 11 plan of reorganization is
set to expire on Jan. 22, 2008.

(Mortgage Lenders Bankruptcy News, Issue No. 23; Bankruptcy
Creditors' Service Inc. http://bankrupt.com/newsstand/or 215/945-
7000).


MOVIE GALLERY: Posts $117,146,000 Net Loss in Month Ended Nov. 4
----------------------------------------------------------------

                      Movie Gallery, Inc.
              Unaudited Consolidated Balance Sheet
               (Excluding International Operations)
                    As Of November 4, 2007

ASSETS
Current Assets
  Cash & Cash Equivalents                            $16,581,000
  Merchandise Inventory                              167,089,000
  Prepaid Expenses                                    67,730,000
  Store Supplies and Other                            16,425,000
                                                 ---------------
     Total Current Assets                            267,825,000

Rental inventory, net                                301,860,000
Property, furnishings and equipment, net             127,249,000
Other intangibles, net                                21,236,000
Deferred income tax asset, net                         1,774,000
Deposits and other assets                             36,080,000
Investment in subsidiaries                            17,016,000
                                                 ---------------
     Total Assets                                   $773,040,000
                                                 ===============

LIABILITIES AND STOCKHOLDERS' DEFICIT
Current Liabilities
  Current maturities of long-term obligations       $873,500,000
  Accounts payable                                    39,194,000
  Intercompany payable                              (11,791,000)
  Accrued liabilities                                 56,537,000
  Accrued payroll                                     30,589,000
  Accrued interest                                    11,226,000
  Deferred revenue                                    35,719,000
                                                 ---------------
     Total Current Liabilities                     1,034,974,000
Other Accrued Liabilities                             19,901,000
                                                 ---------------
     Total Liabilities Not Subject to Compromise   1,054,875,000

Liabilities Subject to Compromise
  Accounts payable                                    47,214,000
  Accrued liabilities                                 16,594,000
  Accrued utilities                                    4,234,000
  Accrued interest                                    16,566,000
  Long-term obligations                              322,959,000
  Lease liability on closed stores                   132,516,000
                                                 ---------------
     Total Liabilities Subject to Compromise         540,083,000
                                                 ---------------
     Total Liabilities                             1,594,958,000

Stockholders' Deficit
  Preferred stock, $0.10 par value; 2000 shares
    authorized, no shares or issues outstanding                0
  Common stock, $0.001 par value; 65,000 shares
    authorized, shares issued and outstanding             32,000
  Additional paid-in capital                         199,602,000
  Accumulated deficit                             (1,028,924,000)
  Accumulated other comprehensive income               7,372,000
                                                 ---------------
     Total Stockholders' Deficit                    (821,918,000)
                                                 ---------------
     Total Liabilities and Stockholders' Deficit    $773,040,000
                                                 ===============



                       Movie Gallery, Inc.
         Unaudited Consolidated Statement of Operations
               (Excluding International Operations)
                From October 16 to November 4, 2007

Revenue
  Rentals                                            $85,462,000
  Product Sales                                       31,778,000
                                                 ---------------
                                                     117,240,000

Cost of Sales
  Cost of rental revenues                             39,460,000
  Cost of product sales                               25,132,000
                                                 ---------------
                                                      64,592,000

Gross Profit                                          52,648,000

Operating Costs and Expenses
  Store operating expenses                           164,040,000
  General and administrative                           6,097,000
  Amortization of intangibles                            149,000
                                                 ---------------
                                                     170,286,000
                                                 ---------------
Operating Income (Loss)                             (117,638,000)

  Interest Expense, net                                8,703,000
  Intercompany interest expense, net                           0
                                                 ---------------
     Income (loss) before reorganization items
        and income taxes                            (126,341,000)

Reorganization items, net                             (9,195,000)
                                                 ---------------
Income (loss) before income taxes                   (117,146,000)

Income taxes (benefit)                                         0
                                                 ---------------
Net Income (Loss)                                  ($117,146,000)
                                                 ===============



                     Movie Gallery, Inc.
         Unaudited Consolidated Statement of Cash Flows
               (Excluding International Operations)
               From October 16 to November 4, 2007

Operating Activities
   Net income (loss)                               ($117,146,000)

Adjustments to Reconcile Changes in Net Assets
   to Net Cash Provided by Operating Activities:
   Rental Inventory Amortization                      28,293,000
   Purchases of Rental Inventory                     (29,929,000)
   Purchases of Rental Inventory-Base Stock              (41,000)
   Reorganization Items, net                         (11,870,000)
   Depreciation and Intangibles Amortization           2,712,000
   Loss on Closed Store Write-Offs                        14,000
   Amortization of Debt Issuance Cost                    484,000
   Write Off of Debt Issuance Cost                     2,006,000

Changes in Operating Assets and Liabilities
   Merchandise Inventory                              (7,049,000)
   Other Current Assets                              (33,524,000)
   Deposits and Other Assets                            (281,000)
   Accounts Payable                                    7,388,000
   Accrued Interest                                   (1,094,000)
   Lease Liability on Closed Stores                  121,956,000
   Other Accrued Liabilities and Deferred Revenue     (1,864,000)
                                                 ---------------
Net Cash Used by Operating Activities                (39,945,000)

Investing Activities
   Purchases of Property, Furnishings and
      Equipment, net                                    (109,000)
   Proceeds from Disposal of Property,
      Furnishings and Equipment                                 0
                                                  ---------------
Net Cash Provided by Investing Activities               (109,000)

Financing Activities
   Change in Intercompany Receivable                  (1,357,000)
   Net Borrowings (Repayments) on Revolving
      Credit Facilities                              (92,478,000)
   Long Term Debt Financing Fees                      (3,389,000)
   Proceeds from Issuance of DIP Credit Facility     100,000,000
                                                 ---------------
Net Cash Provided by Financing Activities              2,776,000

Increase (Decrease) in Cash and Cash Equivalents     (37,278,000)
Cash and cash equivalents at beginning of period      53,859,000
                                                 ---------------
Cash and cash equivalents at end of period           $16,581,000
                                                 ===============

Based in Dothan, Alabama, Movie Gallery Inc. --
http://www.moviegallery.com/-- is a home entertainment specialty
retailer.  The company owns and operates 4,600 retail stores that
rent and sell DVDs, videocassettes and video games.

The company and its debtor-affiliates filed for Chapter 11
protection on Oct. 16, 2007 (Bankr. E.D. Va. Case Nos. 07-33849 to
07-33853.  Anup Sathy, Esq., Marc J. Carmel, Esq., and Richard M.
Cieri, Esq., at Kirkland & Ellis LLP, represent the Debtors.
Michael A. Condyles, Esq., and Peter J. Barrett, Esq., at Kutak
Rock LLP, is the Debtors' local counsel.  The Debtors' claims &
balloting agent is Kutzman Carson Consultants LLC.  When the
Debtors' filed for protection from their creditors, they listed
total assets of $891,993,000 and total liabilities of
$1,419,215,000.

The Official Committee of Unsecured Creditors has selected Robert
J. Feinstein, Esq., James I. Stang, Esq., Robert B. Orgel, Esq.,
and Brad Godshall, Esq., at Pachulski Stang Ziehl & Jones LLP, as
its lead counsel, and Brian F. Kenney, Esq., at Miles &
Stockbridge PC, as its local counsel.

The Debtors' spokeswoman Meaghan Repko said that the company does
not expect to exit bankruptcy protection before the second quarter
of 2008.  The Debtors' exclusive plan filing period expires on
Feb. 13, 2008.  (Movie Gallery Bankruptcy News, Issue No. 13;
Bankruptcy Creditors' Service Inc.; http://bankrupt.com/newsstand/
or 215/945-7000)


MOVIE GALLERY: Earns $36,439,000 in Month Ended December 2, 2007
----------------------------------------------------------------

                      Movie Gallery, Inc.
             Unaudited Consolidated Balance Sheet
             (Excluding International Operations)
                    As Of December 2, 2007

ASSETS
Current Assets
  Cash & Cash Equivalents                            $13,686,000
  Merchandise Inventory                              186,977,000
  Prepaid Expenses                                    50,943,000
  Store Supplies and Other                            13,512,000
                                                 ---------------
     Total Current Assets                            265,118,000

Rental inventory, net                                303,443,000
Property, furnishings and equipment, net             123,269,000
Other intangibles, net                                20,977,000
Deferred income tax asset, net                         1,774,000
Deposits and other assets                             36,881,000
Investment in subsidiaries                            17,019,000
                                                 ---------------
     Total Assets                                   $768,481,000
                                                 ===============

LIABILITIES AND STOCKHOLDERS' DEFICIT
Current Liabilities
  Current maturities of long-term obligations       $873,500,000
  Accounts payable                                    63,560,000
  Intercompany payable                               (12,746,000)
  Accrued liabilities                                 64,211,000
  Accrued payroll                                     33,906,000
  Accrued interest                                    14,026,000
  Deferred revenue                                    36,603,000
                                                 ---------------
     Total Current Liabilities                     1,073,060,000
Other Accrued Liabilities                             17,913,000
                                                 ---------------
     Total Liabilities Not Subject to Compromise   1,090,973,000

Liabilities Subject to Comrpomise
  Accounts payable                                    31,908,000
  Accrued liabilities                                 14,235,000
  Accrued utilities                                    4,254,000
  Accrued interest                                    16,410,000
  Long-term obligations                              323,006,000
  Lease liability on closed stores                    73,174,000
                                                 ---------------
     Total Liabilities Subject to Compromise         462,987,000
                                                 ---------------
     Total Liabilities                             1,553,960,000

Stockholders' Deficit
  Preferred stock, $0.10 par value; 2000 shares
    authorized, no shares or issues outstanding                0
  Common stock, $0.001 par value; 65,000 shares
    authorized, shares issued and outstanding             32,000
  Additional paid-in capital                         199,602,000
  Accumulated deficit                               (992,485,000)
  Accumulated other comprehensive income               7,372,000
                                                 ---------------
     Total Stockholders' Deficit                    (785,479,000)
                                                 ---------------
     Total Liabilities and Stockholders' Deficit    $768,481,000
                                                 ===============


                       Movie Gallery, Inc.
        Unaudited Consolidated Statement of Operations
              (Excluding International Operations)
             For The Period Ended December 2, 2007

Revenue
  Rentals                                           $117,845,000
  Product Sales                                       60,231,000
                                                 ---------------
                                                     178,076,000

Cost of Sales
  Cost of rental revenues                             41,579,000
  Cost of product sales                               47,824,000
                                                 ---------------
                                                      89,403,000

Gross Profit                                          88,673,000

Operating Costs and Expenses
  Store operating expenses                           103,131,000
  General and administrative                          10,530,000
  Amortization of intangibles                            259,000
                                                 ---------------
                                                     113,920,000
                                                 ---------------
Operating Income (Loss)                              (25,247,000)

  Interest Expense, net                                9,548,000
  Intercompany interest expense, net                           0
                                                 ---------------
     Income (loss) before reorganization items
        and income taxes                             (34,795,000)

Reorganization items, net                            (71,239,000)
                                                 ---------------
Income (loss) before income taxes                     36,444,000

Income taxes (benefit)                                     5,000
                                                 ---------------
Net Income (Loss)                                    $36,439,000
                                                 ===============



                     Movie Gallery, Inc.
         Unaudited Consolidated Statement of Cash Flows
             (Excluding International Operations)
             For The Period Ended December 2, 2007

Operating Activities
   Net income (loss)                                 $36,439,000

Adjustments to Reconcile Changes in Net Assets
   to Net Cash Provided by Operating Activities:
   Rental Inventory Amortization                      32,721,000
   Purchases of Rental Inventory                     (34,281,000)
   Purchases of Rental Inventory-Base Stock              (23,000)
   Reorganization Items, net                         (75,096,000)
   Depreciation and Intangibles Amortization           4,674,000
   Loss on Closed Store Write-Offs                        15,000
   Amortization of Debt Issuance Cost                    837,000

Changes in Operating Assets and Liabilities
   Merchandise Inventory                             (19,888,000)
   Other Current Assets                               19,700,000
   Deposits and Other Assets                          (1,593,000)
   Accounts Payable                                    9,224,000
   Accrued Interest                                    2,645,000
   Lease Liability on Closed Stores                   15,751,000
   Other Accrued Liabilities and Deferred Revenue      7,390,000
                                                  ---------------
Net Cash Used by Operating Activities                 (1,485,000)

Investing Activities
   Purchases of Property, Furnishings and
      Equipment, net                                    (451,000)
   Proceeds from Disposal of Property,
      Furnishings and Equipment                           (4,000)
                                                  ---------------
Net Cash Provided by Investing Activities               (455,000)

Financing Activities
   Change in Intercompany Receivable                    (955,000)
                                                  ---------------
Net Cash Provided by Financing Activities               (955,000)

Increase (Decrease) in Cash and Cash Equivalents      (2,895,000)
Cash and cash equivalents at beginning of period      16,581,000
                                                 ---------------
Cash and cash equivalents at end of period           $13,686,000
                                                 ===============

Based in Dothan, Alabama, Movie Gallery Inc. --
http://www.moviegallery.com/-- is a home entertainment specialty
retailer.  The company owns and operates 4,600 retail stores that
rent and sell DVDs, videocassettes and video games.

The company and its debtor-affiliates filed for Chapter 11
protection on Oct. 16, 2007 (Bankr. E.D. Va. Case Nos. 07-33849 to
07-33853.  Anup Sathy, Esq., Marc J. Carmel, Esq., and Richard M.
Cieri, Esq., at Kirkland & Ellis LLP, represent the Debtors.
Michael A. Condyles, Esq., and Peter J. Barrett, Esq., at Kutak
Rock LLP, is the Debtors' local counsel.  The Debtors' claims &
balloting agent is Kutzman Carson Consultants LLC.  When the
Debtors' filed for protection from their creditors, they listed
total assets of $891,993,000 and total liabilities of
$1,419,215,000.

The Official Committee of Unsecured Creditors has selected Robert
J. Feinstein, Esq., James I. Stang, Esq., Robert B. Orgel, Esq.,
and Brad Godshall, Esq., at Pachulski Stang Ziehl & Jones LLP, as
its lead counsel, and Brian F. Kenney, Esq., at Miles &
Stockbridge PC, as its local counsel.

The Debtors' spokeswoman Meaghan Repko said that the company does
not expect to exit bankruptcy protection before the second quarter
of 2008.  The Debtors' exclusive plan filing period expires on
Feb. 13, 2008.  (Movie Gallery Bankruptcy News, Issue No. 13;
Bankruptcy Creditors' Service Inc.; http://bankrupt.com/newsstand/
or 215/945-7000)


PACIFIC LUMBER: ScoPac Files November 2007 Operating Report
-----------------------------------------------------------
Scotia Pacific Company LLC, debtor-affiliate of The Pacific Lumber
Company, delivered to the Honorable Richard Schmidt of the
Southern District of Texas their monthly operating report for
November 2007, disclosing:

                    Scotia Pacific Company LLC
                    Consolidated Balance Sheet
                     As of November 30, 2007

ASSETS
Current Assets
   Cash                                         $45,751,392
   Accounts receivable, net                       4,484,705
   Inventory: lower cost or market                1,911,054
   Prepaid expenses                               6,493,043
   Prepaid Restructuring                            764,671
   Investments                                            0
   Other                                            694,631
                                               ------------
      Total Current Assets                       60,099,497

Property, Plant & Equipment                     600,496,342
Less: Accumulated Depreciation                 (359,422,353)
                                               ------------
Net book value of property & plant              241,073,989
Other Assets
   Capitalized Expenses                          10,484,199
                                               ------------
      TOTAL ASSETS                             $311,657,684
                                               ============

LIABILITIES & OWNERS EQUITY
Postpetition Liabilities
   Trade accounts payable                          $146,178
   Tax payable
      Federal payroll taxes                          10,013
      State payroll taxes                               497
      Ad valorem taxes                              245,000
      Other taxes                                   157,857
                                               ------------
         Total taxes payable                        413,368

      Secured debt postpetition                           0
      Accrued interest payable                   46,748,800
      Accrued professional fees                   4,542,130
      Other accrued liabilities
         Unsecured Debt                           1,710,047
         Payroll                                    459,776
         Other                                      364,758
                                               ------------
      Total Postpetition Liabilities             54,385,056

Prepetition Liabilities
   Notes payable - Secured                      767,347,638
   Priority debt                                    207,812
   Federal income tax                                     0
   FICA/ Withholding                                      0
   Unsecured debt                                 3,358,866
   Other                                            235,944
                                               ------------
      Total Prepetition Liabilities             771,150,260
                                               ------------
      Total Liabilities                         825,535,318
Owner's Equity (Deficit)
   Preffered Stock                                        0
   Common Stock                                  20,384,905
   Additional Paid-in Capital                   179,838,186
   Retained Earnings: Filing Date              (662,058,832)
   Retained Earnings: Post Filing Date          (52,041,892)
                                               ------------
Total Owner's Equity                           (513,877,633)
                                               ------------
TOTAL LIABILITIES & OWNERS EQUITY              $311,657,684
                                               ============


                    Scotia Pacific Company LLC
                       Statement of Income
               For the Period Ended November 30, 2007


Revenues                                         $2,560,791
Total cost of revenues                              908,447
                                               ------------
Gross Profit                                      1,652,344

Operating Expenses
   Selling & Marketing                                    0
   General & Administrative                         213,381
   Insiders Compensation                                  0
   Professional Fees                                      0
   Idle Facilities                                        0
   Environmental                                          0
                                               ------------
      Total Operating Expenses                      213,381
                                               ------------
Income before interest, depreciation, tax         1,438,963
Interest Expense                                  4,716,951
Depreciation                                        611,861
Other (Income) Expenses                            (109,467)
Amortization of Deferred Financing Costs                  0
Restructuring
   Professional Fees                              1,603,750
   Other                                            198,552
Equity Loss (Earnings) in Subsidiary                      0
Total Interest, Depreciation & Other Items        7,021,647
                                               ------------
Net Income Before Taxes                          (5,582,684)
Federal Income Tax                                        0
                                               ------------
Net Income (Loss)                               ($5,582,684)
                                               ============


                  Scotia Pacific Company LLC
                Cash Receipts and Disbursements
             For the Month Ended November 30, 2007

Receipts
   Cash Sales                                            $0
   Collection of Accounts Receivable                      0
   Loans & Advances                                       0
   Sale of Assets                                         0
   Interest Income                                  189,182
   Log Sales to Palco less Reimbursable           1,593,144
   Other                                             51,335
                                               ------------
      Total Receipts                              1,833,661

Disbursements
   Net payroll                                      299,931
   Payroll taxes paid                                82,919
   Sales, use & other taxes paid                          0
   Secured/rentals/leases                            20,529
   Utilities & telephone                                157
   Insurance                                        286,367
   Cost of goods sold                                     0
   Vehicle expenses                                       0
   Travel & entertainment                                 0
   Repairs, maintenance & supplies                        0
   Administrative & selling                         407,980
   Decking, logging & hauling                     1,127,213
   Other                                             92,783
                                               ------------
      Total Disbursements from operations        2,317,880

Professional fees                                 2,152,102
U.S. Trustee fees                                    10,000
Interest                                            256,973
Other reorganization expenses                             0
                                               ------------
      Total Disbursements                         4,736,954
                                               ------------
Net Cash Flow                                    (2,903,293)
                                               ------------
Cash, at the end of the month                   $45,751,392
                                               ============

Based in Oakland, California, The Pacific Lumber Company --
http://www.palco.com/-- and its subsidiaries operate in several
principal areas of the forest products industry, including the
growing and harvesting of redwood and Douglas-fir timber, the
milling of logs into lumber and the manufacture of lumber into a
variety of finished products.

Scotia Pacific Company LLC, Scotia Development LLC, Britt Lumber
Co., Inc., Salmon Creek LLC and Scotia Inn Inc. are wholly owned
subsidiaries of Pacific Lumber.

Scotia Pacific, Pacific Lumber's largest operating subsidiary, was
established in 1993, in conjunction with a securitization
transaction pursuant to which the vast majority of Pacific
Lumber's timberlands were transferred to Scotia Pacific, and
Scotia Pacific issued Timber Collateralized Notes secured by
substantially all of Scotia Pacific's assets, including the
timberlands.

Pacific Lumber, Scotia Pacific, and four other subsidiaries filed
for chapter 11 protection on Jan. 18, 2007 (Bankr. S.D. Tex. Case
Nos. 07-20027 through 07-20032).  Jack L. Kinzie, Esq., at Baker
Botts LLP, is Pacific Lumber's lead counsel.  Nathaniel Peter
Holzer, Esq., Harlin C. Womble, Jr., Esq., and Shelby A. Jordan,
Esq., at Jordan Hyden Womble Culbreth & Holzer PC, is Pacific
Lumber's co-counsel.  Kathryn A. Coleman, Esq., and Eric J.
Fromme, Esq., at Gibson, Dunn & Crutcher LLP, acts as Scotia
Pacific's lead counsel.  John F. Higgins, Esq., and James Matthew
Vaughn, Esq., at Porter & Hedges LLP, is Scotia Pacific's co-
counsel.  John D. Fiero, Esq., at Pachulski Stang Ziehl & Jones
LLP, represents the Official Committee of Unsecured Creditors.

When Pacific Lumber filed for protection from its creditors, it
listed estimated assets and debts of more than $100 million.
Scotia Pacific listed total assets of $932,000,000 and total debts
of $765,978,335.  The Debtors filed their Joint Plan of
Reorganization on Sept. 30, 2007, which was amended on Dec. 20,
2007.  The Debtors' exclusive plan filing period expires on
Feb. 29, 2007.  (Scotia/Pacific Lumber Bankruptcy News, Issue No.
40, http://bankrupt.com/newsstand/or 215/945-7000).


PACIFIC LUMBER: Scotia Dev't Files November 2007 Operating Report
-----------------------------------------------------------------
Scotia Development LLC, et al., debtor-affiliates of The Pacific
Lumber Company, delivered to the Honorable Richard Schmidt of the
Southern District of Texas their monthly operating report for
November 2007, disclosing:

                       Scotia Development LLC, et al.
                        Consolidated Balance Sheet
                         As of November 30, 2007

ASSETS
Current Assets
  Cash                                               ($275,143)
  Accounts receivable, net                           6,573,111
  Inventory: lower cost or market                   21,769,430
  Prepaid expenses                                   5,341,983
  Prepaid Restructuring                                200,000
  Investments                                                -
  Other                                                267,367
                                                  ------------
    Total Current Assets                            33,876,748

Property, Plant & Equipment                        214,433,666
Less: Accumulated Depreciation                    (140,020,801)
                                                  ------------
Net book value of property & plant                  74,412,865
Other Assets
  Notes Receivable                                     461,190
  Deferred Financing Costs                           5,937,655
  Long-term Investments                              2,913,287
  Restricted Cash                                    2,509,580
  Restricted Cash/Letter
    of Credit Collaterization                       12,335,351
  Deferred Tax Assets                               13,652,208
                                                  ------------
    TOTAL ASSETS                                  $146,098,884
                                                  ============

LIABILITIES & OWNERS EQUITY
Postpetition
Liabilities
  Trade accounts payable                               972,105
  Tax payable
    Federal payroll taxes                               44,800
    State payroll taxes                                  8,387
    Ad valorem taxes                                   266,740
    Other taxes                                         22,417
                                                  ------------
       Total taxes payable                             342,344

    Secured debt postpetition                       72,828,104
    Accrued interest payable                         2,063,391
    Accrued professional fees                        3,416,616
    Other accrued liabilities
       Trade Accruals                                1,038,882
       Compensation and Benefits                     2,012,173
       Other Accrued                                   465,144
       Due to(from) Affiliate/Parent                 2,862,656
                                                  ------------
    Total Postpetition Liabilities                  86,001,415

Prepetition Liabilities
  Notes payable - Secured                           84,277,251
  Priority debt                                      3,569,579
  Federal income tax                                   (17,006)
  FICA/ Withholding                                          -
  Unsecured debt                                     2,972,933
  Other                                             33,626,758
  Due to Affiliate/Parent                           41,661,505
                                                  ------------
    Total Prepetition Liabilities                  166,091,020
                                                  ------------
    Total Liabilities                              252,092,435

Owner's Equity (Deficit)
  Equity in Affiliates                             531,021,386
  Common Stock                                           1,001
  Additional Paid-in Capital                       275,546,288
  Retained Earnings: Filing Date                  (794,985,292)
  Retained Earnings: Post Filing Date             (117,576,935)
                                                  ------------
Total Owner's Equity                              (105,993,552)
                                                  ------------
TOTAL LIABILITIES & OWNERS EQUITY                 $146,098,884
                                                  ============


                    Scotia Development LLC, et al.
                        Statement of Income
               For the Period Ended November 30, 2007


Revenues                                            $6,767,200
Total cost of revenues                               7,227,128
                                                  ------------
Gross Profit                                          (459,928)

Operating Expenses
  Selling & Marketing                                   84,824
  General & Administrative                             321,545
  Insiders Compensation                                101,251
  Idle Facilities                                      139,875
  Environment                                           26,511
                                                  ------------
    Total Operating Expenses                           674,006
                                                  ------------
Income before interest, depreciation, tax           (1,133,934)
Interest Expense                                     3,181,224
Depreciation                                           856,880
Other (Income) Expenses                               (135,636)
Amortization of Deferred Financing Costs               387,997
Restructuring
  Professional Fees                                  1,295,303
  Other                                                 83,470
Equity Loss (Earnings) in Subsidiary                 5,582,684
Total Interest, Depreciation & Other                11,251,921
                                                  ------------
Net Income Before Taxes                            (12,385,855)
Federal Income Tax                                           0
                                                  ------------
Net Income (Loss)                                 ($12,385,855)
                                                  ============


                    Scotia Development LLC, et al.
                   Cash Receipts and Disbursements
                For the Month Ended November 30, 2007

Receipts
  Cash Sales                                           $65,320
  Collection of Accounts Receivable                  6,216,493
  Loans & Advances                                   2,503,040
  Sale of Assets                                       115,000
  Other                                                435,273
                                                  ------------
    Total Receipts                                   9,335,125

Disbursements
  Net payroll                                          884,040
  Payroll taxes paid                                   395,569
  Sales, use & other taxes paid                         46,419
  Secured/rentals/leases                               262,755
  Utilities & telephone                                 85,724
  Insurance                                            532,278
  Cost of goods sold                                 4,663,992
  Vehicle expenses                                     184,435
  Travel & entertainment                                35,590
  Repairs, maintenance & supplies                      593,217
  Administrative & selling                           1,049,656
  Interest                                             535,302
  Other                                                  3,752
                                                  ------------
    Total Disbursements from operations              9,272,729

Professional fees                                      917,606
U.S. Trustee fees                                       10,250
Other reorganization expenses                                0
                                                  ------------
    Total Disbursements                             10,200,585
                                                  ------------
Net Cash Flow                                         (865,459)
                                                  ------------
Cash, at the beginning of the month                    590,317
                                                  ------------
Cash, at the end of the month                        ($275,143)
                                                  ============

Based in Oakland, California, The Pacific Lumber Company --
http://www.palco.com/-- and its subsidiaries operate in several
principal areas of the forest products industry, including the
growing and harvesting of redwood and Douglas-fir timber, the
milling of logs into lumber and the manufacture of lumber into a
variety of finished products.

Scotia Pacific Company LLC, Scotia Development LLC, Britt Lumber
Co., Inc., Salmon Creek LLC and Scotia Inn Inc. are wholly owned
subsidiaries of Pacific Lumber.

Scotia Pacific, Pacific Lumber's largest operating subsidiary, was
established in 1993, in conjunction with a securitization
transaction pursuant to which the vast majority of Pacific
Lumber's timberlands were transferred to Scotia Pacific, and
Scotia Pacific issued Timber Collateralized Notes secured by
substantially all of Scotia Pacific's assets, including the
timberlands.

Pacific Lumber, Scotia Pacific, and four other subsidiaries filed
for chapter 11 protection on Jan. 18, 2007 (Bankr. S.D. Tex. Case
Nos. 07-20027 through 07-20032).  Jack L. Kinzie, Esq., at Baker
Botts LLP, is Pacific Lumber's lead counsel.  Nathaniel Peter
Holzer, Esq., Harlin C. Womble, Jr., Esq., and Shelby A. Jordan,
Esq., at Jordan Hyden Womble Culbreth & Holzer PC, is Pacific
Lumber's co-counsel.  Kathryn A. Coleman, Esq., and Eric J.
Fromme, Esq., at Gibson, Dunn & Crutcher LLP, acts as Scotia
Pacific's lead counsel.  John F. Higgins, Esq., and James Matthew
Vaughn, Esq., at Porter & Hedges LLP, is Scotia Pacific's co-
counsel.  John D. Fiero, Esq., at Pachulski Stang Ziehl & Jones
LLP, represents the Official Committee of Unsecured Creditors.

When Pacific Lumber filed for protection from its creditors, it
listed estimated assets and debts of more than $100 million.
Scotia Pacific listed total assets of $932,000,000 and total debts
of $765,978,335.  The Debtors filed their Joint Plan of
Reorganization on Sept. 30, 2007, which was amended on Dec. 20,
2007.  The Debtors' exclusive plan filing period expires on
Feb. 29, 2007.  (Scotia/Pacific Lumber Bankruptcy News, Issue No.
40, http://bankrupt.com/newsstand/or 215/945-7000).


POPE & TALBOT: Files Schedules of Assets and Liabilities
--------------------------------------------------------
Pope & Talbot Inc. delivered to the United States Bankruptcy Court
for the District of Delaware its schedules of assets and
liabilities, disclosing:

A.   Real Property                                  $1,346,465
B.   Personal Property
B.1  Cash on hand                                          600
B.2  Financial Accounts
       Wells Fargo Business Credit
          Deposit                                   12,151,800
          Concentration                             (9,510,440)
          A/P Disbursement                             (44,981)
          Payroll                                      (21,888)
          W/C Compensation                              (9,208)
       PNC Bank,PFPC, Inc.                           1,877,254
       Key Bank Account                                    315
       Seafirst Bank                                       100
B.3  Security Deposits
       Short term deposits                             300,503
       Miscellaneous deposits                          159,094
       Deposits - Purchase timber and roads            916,436
B.4  Household Goods and Furnishings                         0
B.5  Books, pictures and other art objects                   0
B.6  Wearing apparel                                         0
B.7  Furs and jewelry                                        0
B.8  Firearms, sports and other hobby equipment              0
B.9  Interests in insurance policies                         0
B.10 Annuities                                               0
B.11 Interests in education IRA                              0
B.12 Interest in pension, profit sharing plan                0
B.13 Stock & Interests
       Pope & Talbot Ltd.                          171,810,731
       Pope & Talbot Pulp Sales U.S. Inc.            4,483,823
       Pope & Talbot Relocation, Inc.                  694,771
       Penn Timber, Inc.                               481,910
       P&T Funding Ltd.                                162,625
       Pope & Talbot Pulp Sales Europe LLC            (140,065)
       Pope & Talbot Lumber Sales Inc.              (4,415,274)
B.14 Investments in subsidiaries & others
       P&T Finance One Limited Partnership          25,135,413
       P&T Factoring Ltd. Partnership               25,203,804
       Halsey CLO2 Limited Partnership              (1,950,633)
B.15 Gov't. & corporate bonds, etc.                          0
B.16 Accounts Receivable
       Intercompany loan receivables
         P&T Ltd.                                   75,000,000
         Pope & Talbot Ltd. -- Halsey                6,231,956
         Pope & Talbot Spearfish                     2,553,996
           Limited Partnership
       Intercompany trade receivables
         P&T Pulp Sales                             20,516,905
         P&T Lumber Sales                           10,508,860
         P&T Spearfish                               1,849,707
         P&T Pulp Sales Belgium                      1,046,479
       Intercompany loan interest receivables        8,969,178
       Trade receivables                             7,156,546
       Others                                          195,564
B.17 Alimony & property settlements                          0
B.18 Liquidated debts owed to debtor                   133,216
B.19 Other equitable interests                               0
B.20 Investment in deferred compensation
        Life insurance on former Chairman Peter T.
        Pope and his wife, Josephine D. Pope         1,604,827
B.21 Derivative asset                                        0
B.22 Intellectual property                             Unknown
B.23 Licenses & franchises                                   0
B.24 Borrower & applicant list                               0
B.25 Vehicles & accessories                            (60,368)
B.26 Boats, motors & accessories                             0
B.27 Aircraft & accessories                                  0
B.28 Office equipment, furnishings, supplies         1,839,019
B.29 Machinery, supplies, equipment, supplies           56,967
B.30 Inventory                                         701,053
B.31 Animals                                                 0
B.32 Crops                                                   0
B.33 Farming equipment & implements                          0
B.34 Farm supplies, chemicals & feed                         0
B.35 Other personal property
     Deferred income tax asset                       3,672,760
       Retainer for services
         Sherman & Sterling LLP                        550,000
         FTI Consulting Inc.                           400,000
         Rothschild, Inc.                              300,000
         Stoel Rives LLP                                75,000
         Stikeman Elliot                                50,000
       Workers Comp. claims receivable                 544,435
       Acquisition costs, Mackenzie purchase           425,862
       Deferred debt insurance costs                   399,898
       D&O insurance coverage                          385,781
       Credit inurance policy                          312,500
       Maint. Annual Installment                       148,084
       Others                                          604,667

     TOTAL SCHEDULED ASSETS                       $374,866,415
     =========================================================

C.   Property Claimed as Exempt                           None

D.   Creditors Holding Secured Claims
       Ableco Finance LLC Term C Loan               30,920,282
       Wells Fargo Financial Corp., Canada          30,463,024
       HBK Master Fund LP Term C Loan               19,631,925
       Ableco Finance LLC Term B Loan               16,409,331
       David W. Stack                               15,231,512
       Quadrangle Master Funding Ltd Term C Loan    13,286,222
       HBK Master Fund LP Term B Loan               10,418,623
       Oak Hill Credit Opportunities - Term C Loan   7,730,070
       Regiment Capital Special Situations           7,361,972
       Oak Hill Credit Alpha                         7,111,665
       Quadrangle Master Funding Ltd Term B Loan     7,050,971
       OHA Capital Solutions LP                      5,024,546
       Oak Hill Credit Opportunities - Term B Loan   4,102,333
       Regiment Capital                              3,906,984
       Oak Hill Credit Alpha Finance I (Offshore)    3,744,146
       DK Acquisition Partners LP                    3,906,984
       Oak Hill Credit Opportunities - Term C Loan   3,092,028
       OHSF II                                       3,092,028
       Fortress Credit Funding I LLP                 2,944,789
       Fortress Credit Opportunities II LP           2,944,789
       Oak Hill Credit Alpha Finance I LLC           2,782,825
       OHA Capital                                   2,705,525
       OHA Capital                                   2,666,516
       Credit Genesis CLO 2005-1 Ltd.                2,453,991
       OHSF II Financing Ltd. Term B Loan            1,640,933
       Fortress Credit Opportunities                 1,562,793
       Fortress Credit Funding                       1,562,793
       Oak Hill Credit Alpha                         1,476,840
       Fortress Credit Funding                       1,472,394
       OHA Capital                                   1,435,816
       Credit Genesis CLO 2005-1 Ltd.                1,302,328
       Lerner Enterprises LP                         1,236,811
       Durham Acquisition Co. LLC                    1,041,862
       Fortress Credit Funding                         781,397
       Bank of America N.A.                            779,472
       OHSF Financing Ltd.                             656,373
       Lerner Enterprises                              656,373
       Bank of America, N.A.                           413,664
       Concordia Distressed Debt Fund LP               349,332
       Others                                        6,855,869

E.   Creditors Holding Unsecured Priority Claims       Unknown

F.   Creditors Holding Unsecured Non-priority Claims
       The Bank of New York Trust Co., N.A.         75,000,000
       The Bank of New York Trust Co., N.A.         60,000,000
       P&T Ltd.                                     27,325,176
       Post-retirement obligations
         Halsey                                     17,967,614
         U.S. Salaried                               6,209,750
       P&T -- Halsey                                14,201,030
       Wells Fargo Bank Northwest N.A.
         Corp. Trust Services                        6,186,714
       P&T employees vacation                        2,868,865
       Pension obligations
         U.S. salaried                               2,337,303
         SERPS                                       3,882,189
       Vendor accounts payable as of 10/28/2007     11,415,768
       Long term obligation, Wells Fargo             6,186,714
       Others                                        6,106,347

     TOTAL SCHEDULED LIABILITIES                  $473,197,929
     =========================================================

Headquartered in Portland, Oregon, Pope & Talbot Inc. (Other OTC:
PTBT.PK) -- http://www.poptal.com/-- is a pulp and wood products
business.  Pope & Talbot was founded in 1849 and produces market
pulp and softwood lumber at mills in the US and Canada.  Markets
for the company's products include the US, Europe, Canada, South
America and the Pacific Rim.

The company and its U.S. and Canadian subsidiaries applied for
protection under the Companies' Creditors Arrangement Act of
Canada on Oct. 28, 2007.  The Debtors' CCAA Stay expires
on Jan. 16, 2008.

The company and fourteen of its debtor-affiliates filed for
Chapter 11 protection on Nov. 19, 2007 (Bankr. D. Del. Lead Case
No. 07-11738).  Shearman & Sterling LLP is the Debtor's bankruptcy
counsel, while Laura Davis Jones, Esq. at Pachulski, Stang, Ziehl
& Jones L.L.P. represents the Debtors as bankruptcy co-counsel.
When the Debtors filed for bankruptcy, they listed total assets of
$681,960,000 and total debts of $601,090,000.

The Debtors' exclusive period to file a plan expires on March 18,
2008.

Pope & Talbot Pulp Sales Europe, LLC, a subsidiary, on Nov. 21,
2007, filed an application for relief under Belgian bankruptcy
laws in the commercial court in Brussels.  If the Belgian court
grants Pope & Talbot Europe's application, it is expected it will
be liquidated through the bankruptcy proceeding.  (Pope & Talbot
Bankruptcy News, Issue No. 11; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


POPE & TALBOT: P&T Ltd. Files Schedules of Assets and Debts
-----------------------------------------------------------
Pope & Talbot Ltd., debtor-affiliate of Pope & Talbot Inc.,
delivered to the United States Bankruptcy Court for the District
of Delaware its schedules of assets and liabilities, disclosing:

A.   Real Property
       Buildings and Land improvements             $60,638,169
       Harmac write up of land upon purchase         1,773,918

B.   Personal Property
B.1  Cash on hand                                       14,339
B.2  Financial Accounts
       Toronto-Dominion Bank
         Payroll                                     2,843,564
         FIA FSJ Timber                                243,196
         Concentration                                 205,542
         Deposit                                       177,765
       CIBC                                             16,769
       Others                                          854,950
B.3  Security Deposits                                 540,425
B.4  Household Goods and Furnishings                         0
B.5  Books, pictures and other art objects                   0
B.6  Wearing apparel                                         0
B.7  Furs and jewelry                                        0
B.8  Firearms, sports and other hobby equipment              0
B.9  Interests in insurance policies                         0
B.10 Annuities                                               0
B.11 Interests in education IRA                              0
B.12 Interest in pension, profit sharing plan                0
B.13 Stock & Interests                                       0
B.14 Investments in subsidiaries & others
       Pope & Talbot Spearfish Limited Partnership  22,660,178
       Pope & Talbot Factoring Limited Partnership      49,940
B.15 Gov't. & corporate bonds, etc.                          0
B.16 Accounts Receivable
       Trade Receivable                             31,941,981
       Intercompany Loan Receivables
         P&T Factoring                              27,585,507
       Intercompany Trade Receivables
          P&T Inc.                                  27,325,176
          P&T Funding Ltd.                              70,183
       Intercompany Trade Receivables -- Halsey
         Pope & Talbot Inc.                         14,201,030
       Other Receivables -- Halsey                   4,160,098
       Other Receivables                             4,311,358
       Others                                          438,387
B.17 Alimony & property settlements                          0
B.18 Liquidated debts owed to debtor
       2007 Net Operating Loss Carryback to 2006     8,668,404
       Quebec -- 2007 Scientific Research              157,209
B.19 Other equitable interests                               0
B.20 Investment in deferred compensation                     0
B.21 Derivative asset                                        0
B.22 Intellectual property                             Unknown
B.23 Licenses & franchises
       Forest License #A77955                       12,166,263
       Tree Farm License #8                          2,110,453
       Tree Farm License #23                         1,162,748
B.24 Borrower & applicant list                               0
B.25 Vehicles & accessories                          2,466,968
B.26 Boats, motors & accessories                             0
B.27 Aircraft & accessories                                  0
B.28 Office equipment, furnishings, supplies         2,368,892
B.29 Machinery, supplies, equipment, supplies      354,829,598
B.30 Inventory
       Pulp                                         27,232,208
       Chemicals/Supplies                           23,986,117
       Logs                                         17,308,417
       Chips/Sawdust                                 9,658,531
       Lumber                                        7,483,969
       Inventory -- Halsey
         Chemicals/Supplies                          6,413,911
         Pulp                                        2,337,496
         Chips/Sawdust                               2,159,710
         LIFO Reserve                               (1,064,284)
       LIFO Reserve                                 (3,760,523)
B.31 Animals                                                 0
B.32 Crops                                                   0
B.33 Farming equipment & implements                          0
B.34 Farm supplies, chemicals & feed                         0
B.35 Other personal property
       Prepaid property tax
         City of Nanaimo                               674,446
         District of Mackenzie                         358,545
       Prepaid property insurance policy
         Factory Mutual Insurance Co.                  678,318
         Factory Mutual Insurance Co.                  318,357
         Factory Mutual Insurance Co.                  155,487
         Factory Mutual Insurance Co.                   92,971
         Factory Mutual Insurance Co.                   89,083
       Other assets from Fixed Asset Summary           596,920
       Prepaid expenses T81250 layout                  490,560
       Midway planer install contract                  466,125
       Prepaid Natural Gas
         Coral Energy                                  390,030
         IGI Resources                                  61,677
       Prepaid rent
         A779995                                       124,090
         TFL # 8                                        44,272
         TFL # 23                                       94,329
       Prepaid electricity deposit                     272,476
       Prepaid rail freight                            264,281
       Prepaid shutdown spending                       247,108
       Prepaid general liability policy
         Woodruff Sawyer & Company                      39,773
         Woodruff Sawyer & Company                      37,127
         Woodruff Sawyer & Company                      25,605
         Woodruff Sawyer & Company                      21,713
         Woodruff Sawyer & Company                      10,899
       Property premium credit                         133,605
       Prepaid building materials for ditch work       129,605
       Prepaid annual waste management permit          128,709
       Annual subscription, Norpac Controls Inc.       116,704
       Prepaid deposit for H&W claims processing       104,806
       Prepaid retainer for services                   104,806
       Prepaid deposit for H&W claims processing        93,976
       Prepaid quarterly dues -- Pulp & Paper
         Research Institute of Canada                   93,121
       Prepaid extended benefit claims processing       78,709
       Prepaid pollution liability policy               65,738
       Prepaid land lease deposits -- various           43,473
       Log tie-ups along Arrow Lake                     42,299
       Others                                          655,267

     TOTAL SCHEDULED ASSETS                       $683,125,933
     =========================================================

C.   Property Claimed as Exempt                           None

D.   Creditors Holding Secured Claims
       Ableco Finance LLC Term C Loan              $30,920,282
       Wells Fargo Financial Corporation            30,463,024
       HBK Masterfund LP Term C Loan                19,631,925
       Letter of Credit
         Goldenrod Asset Management Inc.             6,407,058
         Safeco Insurance Company                    5,200,000
         TD Community & Energy Trading               3,600,156
         Toronto-Dominion                            1,028,616
         Winthrop Resources Corporation                550,000
         The Bank of Nova Scotia                       250,000
         Generali Belgium SA                            33,978
       Ableco Finance LLC Term B Loan               16,409,331
       ABN AMRO Bank N.V.                           15,231,512
       Quadrangle Master Funding Ltd                13,286,222
       HBK Masterfund LP Term B Loan                10,418,623
       Oak Hill Credit Opportunities Term C Loan     7,730,070
       DK Acquisition Partners LP                    7,361,972
       Oak Hill Credit Alpha Finance I
         (Offshore) LLC                              7,111,665
       Quadrangle Master Funding                     7,050,971
       Goldenrod Asset Management Inc                6,407,058
       Safeco Insurance Company                      5,200,000
       OHA Capital Solutions Ltd. Term C Loan        5,024,546
       Oak Hill Credit Opportunities Term B Loan     4,102,333
       DK Acquisition Partners LP                    3,906,984
       Regiment Capital Special
         Situations Fund III LP                      3,906,984
       Oak Hill Credit Alpha Finance I Term B Loan   3,774,146
       OHSF II Financing Ltd.                        3,092,028
       Fortress Credit Funding LP                    2,944,789
       Fortress Credit Opportunities II LP           2,944,789
       Oak Hill Credit Alpha Finance I Term C Loan   2,782,825
       OHA Capital Solutions LP                      2,705,525
       OHA Capital Solutions Ltd. Term B Loan        2,666,516
       Fortress Credit                               1,562,793
       Fortress Credit                               1,562,793
       OHA Capital                                   1,435,816
       OHSF Financing                                1,236,811
       Fortress Credit                                 781,397
       Lerner Enterprises LP                           656,373
       Others                                       11,507,184

E.   Creditors Holding Unsecured Priority Claims
       Canadian Export Tax Payment -- September      1,315,924
       Canadian Export Taxes -- October                870,174
       Others                                          119,591

F.   Creditors Holding Unsecured Non-priority Claims
       Intercompany loan
         P&T Inc.                                   75,000,000
         P&T Finance Two Limited Partnership        34,127,211
       Intercompany payable P&T Factoring           42,332,361
       Postretirement Obligations
         Harmac                                     32,697,736
         Interior                                    8,447,456
         CMSG                                        1,387,499
         Interior                                    1,000,282
       Vendor accounts payable as of 10/28/2007     32,159,077
       Pension Obligations
         Canadian Salaried                          20,387,625
         Bridge Plans                                3,135,037
         SERPS                                       1,621,017
         CMSG                                        1,028,044
       Pope & Talbot Ltd. Employees Vacation        13,222,239
       Accured interest payable -- P&T Inc.          8,969,178
       Intercompany loan [Halsey] -- P&T Inc.        6,231,956
       Employees payroll -- P&T Ltd.                 3,989,108
       Gas, oil and chemicals                        3,807,947
       Stumpage payable                              3,125,115
       Accrued interest & withholding payable --
         P&T Factoring                               2,408,630
       Miscellaneous liabilities                     2,303,769
       Employee liabilities                          1,866,842
       Sales discount accruals                       1,641,280
       Disputed balance with Canfor                  1,596,985
       Freight payables
         Water/cargo                                 1,235,367
         Land/truck                                    283,674
       Accrued interest -- Pope & Talbot Finance 2   1,083,639
       Estimated income tax payable                  1,077,211
       Insurance -- AIG Credit Corp.                   864,013
       Accrued export tax payable                      826,816
       Employees Tax P&T Ltd.                          530,663
       GST -- Canadian Ministry of France              356,820
       Various professional fees                       348,880
       Various WP accruals                             230,845
       Accrued provincial sales tax                    224,849
       Canfor chips accrual                            197,336
       Book entry                                      191,380
       Other miscellaneous accruals                    155,762
       Insurance -- cargo                              123,718
       Others                                          377,438

       TOTAL SCHEDULED LIABILITIES                $561,175,072
       =======================================================

Headquartered in Portland, Oregon, Pope & Talbot Inc. (Other OTC:
PTBT.PK) -- http://www.poptal.com/-- is a pulp and wood products
business.  Pope & Talbot was founded in 1849 and produces market
pulp and softwood lumber at mills in the US and Canada.  Markets
for the company's products include the US, Europe, Canada, South
America and the Pacific Rim.

The company and its U.S. and Canadian subsidiaries applied for
protection under the Companies' Creditors Arrangement Act of
Canada on Oct. 28, 2007.  The Debtors' CCAA Stay expires
on Jan. 16, 2008.

The company and fourteen of its debtor-affiliates filed for
Chapter 11 protection on Nov. 19, 2007 (Bankr. D. Del. Lead Case
No. 07-11738).  Shearman & Sterling LLP is the Debtor's bankruptcy
counsel, while Laura Davis Jones, Esq. at Pachulski, Stang, Ziehl
& Jones L.L.P. represents the Debtors as bankruptcy co-counsel.
When the Debtors filed for bankruptcy, they listed total assets of
$681,960,000 and total debts of $601,090,000.

The Debtors' exclusive period to file a plan expires on March 18,
2008.

Pope & Talbot Pulp Sales Europe, LLC, a subsidiary, on Nov. 21,
2007, filed an application for relief under Belgian bankruptcy
laws in the commercial court in Brussels.  If the Belgian court
grants Pope & Talbot Europe's application, it is expected it will
be liquidated through the bankruptcy proceeding.  (Pope & Talbot
Bankruptcy News, Issue No. 11; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


POPE & TALBOT: P&T Lumber Files Statement of Assets and Debts
-------------------------------------------------------------
Pope & Talbot Lumber Sales Inc., debtor-affiliate of Pope & Talbot
Inc., delivered to the United States Bankruptcy Court for the
District of Delaware its schedules of assets and liabilities,
disclosing:

A.    Real Property                                         $0

B.    Personal Property
B.1   Cash on hand                                           0
B.2   Financial Accounts                                     0
B.3   Security Deposits                                      0
B.4   Household Goods and Furnishings                        0
B.5   Books, pictures and other art objects                  0
B.6   Wearing apparel                                        0
B.7   Furs and jewelry                                       0
B.8   Firearms, sports and other hobby equipment             0
B.9   Interests in insurance policies                        0
B.10  Annuities                                              0
B.11  Interests in education IRA                             0
B.12  Interest in pension, profit sharing plan               0
B.13  Stock & Interests                                      0
B.14  Investments in subsidiaries & others                   0
B.15  Gov't. & corporate bonds, etc.                         0
B.16  Accounts Receivable                                    0
B.17  Alimony & property settlements                         0
B.18  Liquidated debts owed to debtor                        0
B.19  Other equitable interests                              0
B.20  Investment in deferred compensation                    0
B.21  Derivative asset                                       0
B.22  Intellectual property                                  0
B.23  Licenses & franchises                                  0
B.24  Borrower & applicant list                              0
B.25  Vehicles & accessories                                 0
B.26  Boats, motors & accessories                            0
B.27  Aircraft & accessories                                 0
B.28  Office equipment, furnishings, supplies                0
B.29  Machinery, supplies, equipment, supplies               0
B.30  Inventory
         Inventory Lumber                            4,277,705
         Net Realizable Value Adjustment              (289,173)
B.31  Animals                                                0
B.32  Crops                                                  0
B.33  Farming equipment & implements                         0
B.34  Farm supplies, chemicals & feed                        0
B.35  Other personal property                            4,953

      TOTAL SCHEDULED ASSETS                        $3,993,485
      ========================================================

C.    Property Claimed as Exempt                          None

D.    Creditors Holding Secured Claims
        Ableco Finance LLC Term C Loan             $30,920,282
        Wells Fargo Financial Corp., Canada         30,463,024
        HBK Master Fund LP Term C Loan              19,631,925
        Ableco Finance LLC Term B Loan              16,409,331
        David W. Stack                              15,231,512
        Quadrangle Master Funding Ltd Term C Loan   13,286,222
        HBK Master Fund LP Term B Loan              10,418,623
        Oak Hill Credit Opportunities - Term C Loan  7,730,070
        Regiment Capital Special Situations          7,361,972
        Oak Hill Credit Alpha                        7,111,665
        Quadrangle Master Funding Ltd Term B Loan    7,050,971
        OHA Capital Solutions LP                     5,024,546
        Oak Hill Credit Opportunities Term B Loan    4,102,333
        Regiment Capital                             3,906,984
        Oak Hill Credit Alpha Finance I (Offshore)   3,744,146
        DK Acquisition Partners LP                   3,906,984
        Oak Hill Credit Opportunities - Term C Loan  3,092,028
        OHSF II                                      3,092,028
        Fortress Credit Funding I LLP                2,944,789
        Fortress Credit Opportunities II LP          2,944,789
        Oak Hill Credit Alpha Finance I LLC          2,782,825
        OHA Capital                                  2,705,525
        OHA Capital                                  2,666,516
        Credit Genesis CLO 2005-1 Ltd.               2,453,991
        OHSF II Financing Ltd. Term B Loan           1,640,933
        Fortress Credit Opportunities                1,562,793
        Fortress Credit Funding                      1,562,793
        Oak Hill Credit Alpha                        1,476,840
        Fortress Credit Funding                      1,472,394
        OHA Capital                                  1,435,816
        Credit Genesis CLO 2005-1 Ltd.               1,302,328
        Lerner Enterprises LP                        1,236,811
        Durham Acquisition Co. LLC                   1,041,862
        Fortress Credit Funding                        781,397
        Bankof America N.A.                            779,472
        OHSF Financing Ltd.                            656,373
        Lerner Enterprises                             656,373
        Bank of America, N.A.                          413,664
        Concordia Distressed Debt Fund LP              349,332
        Others                                       6,855,869

E.    Creditors Holding Unsecured
        Priority Claims                                Unknown

F.    Creditors Holding Unsecured Non-priority Claims
        Pope & Talbot, Inc.
        Intercompany Payable                        10,508,860

      TOTAL SCHEDULED LIABILITIES                 $244,019,319
      ========================================================

Headquartered in Portland, Oregon, Pope & Talbot Inc. (Other OTC:
PTBT.PK) -- http://www.poptal.com/-- is a pulp and wood products
business.  Pope & Talbot was founded in 1849 and produces market
pulp and softwood lumber at mills in the US and Canada.  Markets
for the company's products include the US, Europe, Canada, South
America and the Pacific Rim.

The company and its U.S. and Canadian subsidiaries applied for
protection under the Companies' Creditors Arrangement Act of
Canada on Oct. 28, 2007.  The Debtors' CCAA Stay expires
on Jan. 16, 2008.

The company and fourteen of its debtor-affiliates filed for
Chapter 11 protection on Nov. 19, 2007 (Bankr. D. Del. Lead Case
No. 07-11738).  Shearman & Sterling LLP is the Debtor's bankruptcy
counsel, while Laura Davis Jones, Esq. at Pachulski, Stang, Ziehl
& Jones L.L.P. represents the Debtors as bankruptcy co-counsel.
When the Debtors filed for bankruptcy, they listed total assets of
$681,960,000 and total debts of $601,090,000.

The Debtors' exclusive period to file a plan expires on March 18,
2008.

Pope & Talbot Pulp Sales Europe, LLC, a subsidiary, on Nov. 21,
2007, filed an application for relief under Belgian bankruptcy
laws in the commercial court in Brussels.  If the Belgian court
grants Pope & Talbot Europe's application, it is expected it will
be liquidated through the bankruptcy proceeding.  (Pope & Talbot
Bankruptcy News, Issue No. 11; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


POPE & TALBOT: P&T Spearfish Files Statement of Assets and Debts
----------------------------------------------------------------
Pope & Talbot Spearfish Limited Partnership, debtor-affiliate of
Pope & Talbot Inc., delivered to the United States Bankruptcy
Court for the District of Delaware its schedules of assets and
liabilities, disclosing:

A.    Real Property
         Buildings & Improvements                   $3,792,036
         Others                                        830,961

B.    Personal Property
B.1   Cash on hand                                       1,200
B.2   Financial Accounts
         Wells Fargo Business Credit                    (2,813)
B.3   Security Deposits                                      0
B.4   Household Goods and Furnishings                        0
B.5   Books, pictures and other art objects                  0
B.6   Wearing apparel                                        0
B.7   Furs and jewelry                                       0
B.8   Firearms, sports and other hobby equipment             0
B.9   Interests in insurance policies                        0
B.10  Annuities                                              0
B.11  Interests in education IRA                             0
B.12  Interest in pension, profit sharing plan               0
B.13  Stock & Interests                                      0
B.14  Investments in subsidiaries & others                   0
B.15  Gov't. & corporate bonds, etc.                         0
B.16  Accounts Receivable                              166,814
B.17  Alimony & property settlements                         0
B.18  Liquidated debts owed to debtor                        0
B.19  Other equitable interests                              0
B.20  Investment in deferred compensation                    0
B.21  Derivative asset                                       0
B.22  Intellectual property                                  0
B.23  Licenses & franchises                                  0
B.24  Borrower & applicant list                              0
B.25  Vehicles & accessories                           540,594
B.26  Boats, motors & accessories                            0
B.27  Aircraft & accessories                                 0
B.28  Office equipment, furnishings, supplies           50,495
B.29  Machinery, supplies, equipment, supplies
        Machinery & equipment - Spearfish           15,764,507
        Construction in Progress                       128,361
B.30  Inventory
        Lumber                                       2,306,175
        Wood Pellets                                   287,688
        Chemicals and Supplies                         783,357
        LIFO Reserve                                  (583,036)
B.31  Animals                                                0
B.32  Crops                                                  0
B.33  Farming equipment & implements                         0
B.34  Farm supplies, chemicals & feed                        0
B.35  Other personal property                          158,720

      TOTAL SCHEDULED ASSETS                       $24,225,059
      ========================================================

C.    Property Claimed as Exempt                          None

D.    Creditors Holding Secured Claims
        Ableco Finance LLC Term C Loan             $30,920,282
        Wells Fargo Financial Corp., Canada         30,463,024
        HBK Master Fund LP Term C Loan              19,631,925
        Ableco Finance LLC Term B Loan              16,409,331
        David W. Stack                              15,231,512
        Quadrangle Master Funding Ltd Term C Loan   13,286,222
        HBK Master Fund LP Term B Loan              10,418,623
        Oak Hill Credit Opportunities
          Financing Ltd. Term C Loan                 7,730,070
        Regiment Capital Special Situations          7,361,972
        Oak Hill Credit Alpha                        7,111,665
        Quadrangle Master Funding Ltd Term B Loan    7,050,971
        OHA Capital Solutions LP                     5,024,546
        Oak Hill Credit Opportunities
          Financing Ltd. Term B Loan                 4,102,333
        Regiment Capital                             3,906,984
        Oak Hill Credit Alpha
          Finance I (Offshore) LLC                   3,744,146
        DK Acquisition Partners LP                   3,906,984
        Oak Hill Credit Opportunities
          Financing Ltd. Term C Loan                 3,092,028
        OHSF II                                      3,092,028
        Fortress Credit Funding I LLP                2,944,789
        Fortress Credit Opportunities II LP          2,944,789
        Oak Hill Credit Alpha Finance I LLC          2,782,825
        OHA Capital                                  2,705,525
        OHA Capital                                  2,666,516
        Credit Genesis CLO 2005-1 Ltd.               2,453,991
        OHSF II Financing Ltd. Term B Loan           1,640,933
        Fortress Credit Opportunities                1,562,793
        Fortress Credit Funding                      1,562,793
        Oak Hill Credit Alpha                        1,476,840
        Fortress Credit Funding                      1,472,394
        OHA Capital                                  1,435,816
        Credit Genesis CLO 2005-1 Ltd.               1,302,328
        Lerner Enterprises LP                        1,236,811
        Durham Acquisition Co. LLC                   1,041,862
        Fortress Credit Funding                        781,397
        Bank of America N.A.                           779,472
        OHSF Financing Ltd.                            656,373
        Lerner Enterprises                             656,373
        Bank of America, N.A.                          413,664
        Concordia Distressed Debt Fund LP              349,332
        Others                                       6,855,869

E.    Creditors Holding Unsecured
        Priority Claims                                Unknown

F.    Creditors Holding Unsecured Non-priority Claims
         Intercompany Payable
            Pope & Talbot, Inc.                      1,849,707
            P&T Ltd Halsey                                 688
         Intercompany Loan
            Pope & Talbot, Inc.                      2,553,996
         Accounts Payable - various                    950,296
         Electric Purchases - Black Hills Power        187,715
         Chip Accrual                                   35,439
         Rental Accrual                                 19,200
         Selling Expense Accrual                         3,178

      TOTAL SCHEDULED LIABILITIES                 $239,110,678
      ========================================================

Headquartered in Portland, Oregon, Pope & Talbot Inc. (Other OTC:
PTBT.PK) -- http://www.poptal.com/-- is a pulp and wood products
business.  Pope & Talbot was founded in 1849 and produces market
pulp and softwood lumber at mills in the US and Canada.  Markets
for the company's products include the US, Europe, Canada, South
America and the Pacific Rim.

The company and its U.S. and Canadian subsidiaries applied for
protection under the Companies' Creditors Arrangement Act of
Canada on Oct. 28, 2007.  The Debtors' CCAA Stay expires
on Jan. 16, 2008.

The company and fourteen of its debtor-affiliates filed for
Chapter 11 protection on Nov. 19, 2007 (Bankr. D. Del. Lead Case
No. 07-11738).  Shearman & Sterling LLP is the Debtor's bankruptcy
counsel, while Laura Davis Jones, Esq. at Pachulski, Stang, Ziehl
& Jones L.L.P. represents the Debtors as bankruptcy co-counsel.
When the Debtors filed for bankruptcy, they listed total assets of
$681,960,000 and total debts of $601,090,000.

The Debtors' exclusive period to file a plan expires on March 18,
2008.

Pope & Talbot Pulp Sales Europe, LLC, a subsidiary, on Nov. 21,
2007, filed an application for relief under Belgian bankruptcy
laws in the commercial court in Brussels.  If the Belgian court
grants Pope & Talbot Europe's application, it is expected it will
be liquidated through the bankruptcy proceeding.  (Pope & Talbot
Bankruptcy News, Issue No. 11; 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 2008.  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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