TCR_Public/081025.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

           Saturday, October 25, 2008, Vol. 12, No. 255

                             Headlines

CATHOLIC CHURCH: Fairbanks' Monthly Operating Report for August
DELPHI CORP: Amends Schedule F of Schedules of Assets & Debts
FREMONT GENERAL: Earns $6,626,426 in September 2008
KIMBALL HILL: Files Operating Report for Period Ended Sept. 30
PERFORMANCE TRANS: Trustee Files September 2008 Operating Report

PERFORMANCE TRANS: Delivers Operating Report for August 2008
PERFORMANCE TRANS: Files Operating Report for July 2008
PROPEX INC: Amends Schedules of Assets and Liabilities
REFCO INC: Files Operating Report for Period Ended August 31

                             *********

CATHOLIC CHURCH: Fairbanks' Monthly Operating Report for August
---------------------------------------------------------------
The Diocese of Fairbanks filed with the U.S. Bankruptcy for the
District of Alaska its monthly operating report for August 2008.

              Catholic Bishop of Northern Alaska
                 Statement of Financial Position
                      As of August 31, 2008

                                               CBNA     Held for
ASSETS                                        Total       Others
                                              -----     --------
Cash and cash equivalents                   $88,823      $82,789
Investments:                                                            
   Valuables in safe                            168            -
   Trust account @ market                 1,007,796            -
   457 Plan assets @ market                       -      177,397
   Endowment Fund @ market                        -   14,826,218
   Endowment Fund-earnings @ market         (27,248)           -
   Stocks                                         -            -
   Limited partnerships                     261,324            -
Accounts receivable, net of allowance:                                  
   Tuition, fees and others               1,614,815            -
   For parishes and school                  175,063            -
   Other                                     69,031            -
Notes and other receivables                 348,301            -
Grants pledged                              125,000            -
Fixed assets, net at cost:                                              
   Land and building                      7,780,155            -
   Aircraft                                 340,726            -
   Equipment                                      -            -
Other assets                                277,123            -
                                         ----------   ----------
   Total Assets                         $12,061,081  $15,086,404
                                         ==========   ==========

LIABILITIES AND NET ASSETS                                              

Liabilities:                                                            
Accounts payable/accrued liabilities       $541,725            -
Notes payable                               216,966            -
Benefits payable                             96,130            -
Deferred revenue                          1,675,380            -
Annuities payable                           215,684            -
Other liabilities                            23,602            -
Payroll-related liabilities:                                            
   Payroll taxes                             54,341            -
   General vacation accrual account          16,339            -
   Accrued leave                            226,262            -
Insurance:                                                              
   Long term disability                         356            -
   Insurance deposits A/R                   230,549            -
   Insurance reserves expense                40,562            -
   Indemnity insurance reserves                  98            -
   Medical/Dental payroll deduction         221,126            -
CBNA building loan                                -            -
                                         ----------   ----------
   Total Liabilities                      3,559,127            -
                                         ----------   ----------
Total net assets                          8,501,954   15,086,404
                                         ----------   ----------
   Total Liabilities and Net Assets     $12,061,081  $15,086,404
                                         ==========   ==========

               Catholic Bishop of Northern Alaska
                     Statement of Activities
              For the month ending August 31, 2008

                                               CBNA     Held for
                                              Total       Others
Support and revenue:                          -----     --------
   Parish assessments                       $18,763            -
   Tuition, net of tuition assistance       234,311            -
   Curricular income                          2,132            -
   Donations                                264,216            -
   Investment income                        218,653      $34,127
   Other income                              19,083        2,915
   Temporarily restricted gifts             116,440            -
                                         ----------   ----------
   Total support and revenue                873,602       37,042
                                                                        
Expenses:                                                               
   Operating expenses                        67,693            -
   Supplies                                 (19,974)           -
   Repair & Maintenance                      21,922            -
   Utilities                                 17,699            -
   Insurance                                 16,514            -
   Staff Expenses:                                                      
      Salaries & Wages                      358,233            -
      Payroll Taxes                          22,030            -
      Employee Benefits                      72,477            -
   Curricular Expenses                       21,457            -
   Recruiting, advertising and PRs            1,019            -
   Travel Expenses                           15,153            -
   Student related expenses                   1,343            -
   Contributions                                  -            -
   Professional and technical fees           66,374            -
   Investment services                        9,067       $1,202
   Subsidies                                138,299            -
   Rental/Lease Expense                      41,539            -
   Assessments                                1,252            -
   Fund Raising Expense                      30,561            -
   Radio Programming Expense                  2,439            -
   Radio Technical Dept. Expenses               202            -
   Miscellaneous Expense                      2,602            -
   Building construction                        150            -
                                         ----------   ----------
   Total General                            888,061        1,202

   Funds released from restricted funds           -            -
   Net change in designated funds                 -            -
                                         ----------   ----------
   Total Expenses                           888,061        1,202
                                         ----------   ----------
Increase (decrease) in net assets           (14,458)      35,840
                                         ----------   ----------
Re-organizational costs                     149,629            -
Increase (decrease) in net assets        ----------   ----------
after Re-org costs                         (164,087)     (35,840)

Net assets:                                                             
   Beginning of month                     8,666,042   15,122,244
                                         ----------   ----------
   End of month                          $8,501,954  $15,086,404
                                         ==========   ==========

               Catholic Bishop of Northern Alaska
                 Cash Receipts and Disbursements
              For the month ending August 31, 2008

                                               CBNA     Held for
                                              Total       Others
                                              -----     --------
Beginning balance - February 2008          $485,237      $77,681

Total receipts - prior general
   account reports                        5,470,670      599,482
Less total disbursements                  5,656,224      685,773
                                         ----------   ----------
Beginning balance - July 31, 2008           299,683       (8,609)

Receipts during current period:                                         
   Funds received by CSF from CBNA            8,333            -
   Funds collected from others              134,289      134,289
   Transfers between internal accounts       35,933            -
   Accounts receivable - post filing        264,452            -
   Transfers from investment accounts       200,000            -
   Custodial funds                           27,432       27,432
   Funds received by CBNA from KNOM          56,000            -
   Funds received from Catholic Schools      49,260            -
   Annual Catholic schools appeal               247            -
   Interest & dividends                         541            -
   Donations                                240,260            -
   Payment refund/return                        506            -
   Weather service income                       150            -
   Restricted funds and endowment gifts     114,625            -
   Other income/fees                          4,736            -
   Co-curricular income                       2,139            -
   Curricular income                             85            -
   Parish & school funds and endowments          19            -
   Miscellaneous                              4,786            -
   Proceeds from sale of stock                8,771            -
                                         ----------   ----------
   Total receipts this period             1,152,572      161,722
                                         ----------   ----------
Balance                                   1,452,255      153,113

Less total disbursements:                                               
   Transfers to Catholic Schools              8,333            -
   Transfers from KNOM to CBNA               56,000            -
   Transfers between internal accounts       35,933            -
   Transfers to CBNA from CSF                49,260            -
   Custodial funds                           26,865       26,865
   Administrative                               884            -
   Co-curricular expense                      2,748            -
   Curricular expense                        22,571            -
   Funds disbursed for others                74,059       74,059
   Bank fees and charges                        994            -
   Programming - News service                 1,307            -
   Wages & salaries                         408,542            -
   Employee benefits                         85,208            -
   Mission & program support                 99,182            -
   Equipment & supplies                      36,166            -
   Telephone/Internet                         1,909            -
   Staff development                          1,001            -
   Utilities                                 16,801            -
   Refunds                                    3,000            -
   Services & insurance                      86,258            -
   Maintenance/repairs                       13,102            -
   Building supplies and expenses             9,186            -
   Annuities                                 11,924            -
   School supplies                            4,263            -
   Travel                                    11,285            -
   NSF's                                        130            -
   Payroll, excluding pastoral services       2,085            -
   Postage                                   51,394            -
   Printing and copying                      10,375            -
   Rent                                      94,167            -
   Dues/Fees                                  1,282            -
   Miscellaneous                             56,015            -
                                         ----------   ----------
   Total disbursements this period        1,282,243      100,924
                                         ----------   ----------
Ending balance - August 31, 2008           $170,012      $52,188
                                         ==========   ==========

                    About Diocese of Fairbanks

The Roman Catholic Diocese of Fairbanks in Alaska, aka Catholic
Bishop of Northern Alaska, aka Catholic Diocese of Fairbanks, aka
The Diocese of Fairbanks, aka CBNA -- http://www.cbna.info/--      
filed for chapter 11 bankruptcy on March 1, 2008 (Bankr. D. Alaska
Case No. 08-00110).  Susan G. Boswell, Esq., at Quarles & Brady
LLP represents the Debtor in its restructuring efforts.  Michael
R. Mills, Esq., of Dorsey & Whitney LLP serves as the Debtor's
local counsel and Cook, Schuhmann & Groseclose Inc. as its special
counsel.  Judge Donald MacDonald, IV, of the United States
Bankruptcy Court for the District of Alaska presides over
Fairbanks' Chapter 11 case.  The Debtor's schedules show total
assets of $13,316,864 and total liabilities of $1,838,719.

The church's plans to file its bankruptcy plan and disclosure
statement on July 15, 2008.  Its exclusive plan filing period
expires on Jan. 15, 2009.  (Catholic Church Bankruptcy News, Issue
No. 132; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).  


DELPHI CORP: Amends Schedule F of Schedules of Assets & Debts
-------------------------------------------------------------
Delphi Corp. has amended Schedule F of its Schedules of Assets
and Liabilities to reflect liabilities aggregating $2,650,847 on
account of unsecured non-priority claims.

The unsecured non-priority claims were filed in connection with  
the Delphi Supplemental Executive Retirement Program.

The unsecured non-priority claimholders are:

     Creditor                     Claim Amount
     --------                     ------------
     Holden, John                  $  803,517
     Johnson, Robert                  894,254
     Lind, Richard                      1,679
     Northern, Edward                 582,366
     Ramsey, Coy                      156,351
     Tweedy, Randal                   212,678

                       About Delphi Corp.

Based in Troy, Michigan, Delphi Corporation (PINKSHEETS: 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,
represent the Official Committee of Unsecured Creditors.  As of
June 30, 2008, the Debtors' balance sheet showed US$9,162,000,000
in total assets and US$23,742,000,000 in total debts.

The Court approved Delphi's First Amended Joint Disclosure
Statement and related solicitation procedures for the
solicitation of votes on the First Amended Plan on Dec. 20,
2007.  The Court confirmed the Debtors' First Amended Plan on
Jan. 25, 2008.  The Plan has not been consummated after a group
led by Appaloosa Management, L.P., backed out from their
proposal to provide US$2,550,000,000 in equity financing to
Delphi.

(Delphi Bankruptcy News, Issue 148; Bankruptcy Creditors' Service
Inc., http://bankrupt.com/newsstand/or 215/945-7000)   


FREMONT GENERAL: Earns $6,626,426 in September 2008
---------------------------------------------------
Fremont General Corporation filed with the U.S. Bankruptcy Court
for the Central District of California its monthly operating
report for the month ended Sept. 30, 2008.

The Debtors reported total assets of $474,486,316, total
liabilities of $361,525,334, and total equity of $112,960,982 at
Set. 30, 2008.

For the month, the Debtors reported net income of $6,626,426 and
generated zero revenues.

A full-text copy of the Debtor's September 2008 monthly operating
report is available for free at:

               http://researcharchives.com/t/s?3431

                     About Fremont General

Based in Santa Monica, Calif., Fremont General Corp. (OTC: FMNTQ)
-- http://www.fremontgeneral.com/-- was a financial services   
holding company with $8.8 billion in total assets at Sept. 30,
2007.  Fremont General ceased being a financial services holding
company on July 25, 2008, when its wholly owned bank subsidiary,
Fremont Reorganizing Corporation (f/k/a Fremont Investment & Loan)
completed the sale of its assets, including all of its 22
branches, and 100% of its $5.2 billion of deposits to
CapitalSource Bank.

Fremont General filed for Chapter 11 protection on June 18, 2008,
(Bankr. C.D. Calif. Case No. 08-13421).  Robert W. Jones, Esq.,
and J. Maxwell Tucker, Esq., at Patton Boggs LLP, are the proposed
counsel for the Debtor.  Theodore Stolman, Esq., and Scott H. Yun,
at Stutman Treister & Glatt, are the proposed co-counsel for the
Debtor.  The Debtor selected Kurtzman Carson Consultants LLC as
its claims agent.

Lee R. Bogdanoff, Esq., Jonathan S. Shenson, Esq., and Jonathan D.
Petrus, Esq., at Klee, Tuchin, Bogdanoff & Stern LLP, represent
the Official Committee of Unsecured Creditors as counsel.

In its schedules, Fremont General reported $362,227,537 in total
assets and $326,529,372 in total debts.  When the Debtor filed for
protection from its creditors, it listed total assets of
$643,197,000 and total debts of $320,630,000.


KIMBALL HILL: Files Operating Report for Period Ended Sept. 30
--------------------------------------------------------------

                     Kimball Hill, Inc.
          Summary of Cash Receipts and Disbursements
         For the Period from September 1 to 30, 2008

Beginning Cash Balance                              $87,044,761

Receipts from operations
   Accounts receivable receipts                      32,046,761
   Notes receivable receipts                                  0
   Accts. Receivable collection for non-debtors         521,550

Other receipts
   Interest income                                      110,990
   Proceeds from sale of fixed assets                         0
   Oil exploration revenue                              105,647
   Proceeds from life insurance policies                620,685
   Customer deposits                                    382,309
   Customer deposits for non-debtors                     60,366
   Miscellaneous receipts                               396,358
                                                  -------------
Total Receipts                                       34,244,670
                                                  -------------
Disbursements

Payroll Officers                                        494 904
   Others                                             1,707,021
                                                  -------------
   Total Payroll                                      2,201,926

Taxes
   Federal income tax                                   442,528
   FICA withholdings                                    175,560
   Employee's withholdings                                    0
   Employer's FICA                                      175,561
   Federal unemployment taxes                               480
   State income tax                                      39,793
   State employee withholdings                                0
   All other state taxes                                  1,840
   State unemployment taxes                               2,701
                                                  -------------
    Total Taxes                                         838,466

Necessary expenses
   Homebuilding costs                                14,851,818
   Debt and interest payments                         1,410,253
   General and administrative costs                   2,298,678
   Permits                                            1,568,552
   Land and land Development                          2,817,986
   Medical health claims                                462,643
   Customer deposit refunds                              54,095
   401K funding                                          82,654
   Texas sales taxes                                    148,706
   Professional fees                                  2,087,754
   Warranty costs                                       188,566
   Flex spending reimbursements                          12,540
                                                  -------------
    Total Necessary Expenses                         25,984,251
                                                  -------------
Total Disbursements                                  29,984,251
                                                  -------------
Net receipts for the period                           5,220,026
                                                  -------------
Ending Cash Balance                                 $92,264,907
                                                  =============

Headquartered in Rolling Meadow, Illinois, Kimball Hill Inc. --
http://www.kimballhillhomes.com/-- is one of the
largest                
privately-owned homebuilders and one of the 30 largest
homebuilders in the United States, as measured by home deliveries
and revenues.  The company designs, builds and markets single-
family detached, single-family attached and multi-family homes.
The company currently operate within 12 markets, including, among
others, Chicago, Dallas, Fort Worth, Houston, Las Vegas,
Sacramento and Tampa, in five regions: Florida, the Midwest,
Nevada, the Pacific Coast and Texas.

Kimball Hill, Inc. and 29 of its affiliates filed for Chapter 11
protection on April 23, 2008 (Bankr. N.D. Ill. Lead Case No. 08-
10095).  Ray C. Schrock, Esq., at Kirkland & Ellis LLP, represents
the Debtors in their restructuring efforts.  The Debtors'
consolidated financial condition as of Dec. 31, 2007, reflected
total assets of $795,473,000 and total debts $631,867,000.

The Debtors have until Oct. 20, 2008, to exclusively file a
bankruptcy plan.  

(Kimball Hill Bankruptcy News, Issue No. 13; Bankruptcy Creditors'
Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000).


PERFORMANCE TRANS: Trustee Files September 2008 Operating Report
----------------------------------------------------------------
Clear Thinking Group, LLC, the liquidating trustee appointed
under Performance Transportation Services Inc., et al.'s
confirmed plan of reorganization, delivered to the U.S.
Bankruptcy Court for the Western District of New York an
operating report for the PTS Liquidating Trust from Sept. 1
to 30, 2008.

The Liquidating Trustee reports the Trust made $11,329 in net
disbursements during the reporting period.  The Trust's operating
account had an ending balance of $26,716 from a $38,045 balance
at the start of the month.

The Trust's money market account had an ending balance of
$71,505 from a $71,332 balance at the start of the month.

The Liquidating Trustee is represented in the cases by David
Neier, Esq., at Arent Fox, LLP, in New York.

Performance Transportation Services Inc. is the second largest
transporter of new automobiles, sport-utility vehicles and light
trucks in North America, and operates under three key
transportation business lines including: E. and L. Transport,
Hadley Auto Transport and Leaseway Motorcar Transport.

The company and 13 of its affiliates previously filed for Chapter
11 protection on Jan. 25, 2006 (Bankr. W.D.N.Y. Lead Case No. 06-
00107). The U.S. Bankruptcy Court for the Western District of New
York confirmed the Debtors' plan on Dec. 21, 2006, and that plan
became effective on Jan. 29, 2007. Garry M. Graber, Esq. of
Hodgson, Russ LLP and Tobias S. Keller, Esq. of Jones Day
represented the Debtors in their restructuring efforts.  When the
Debtor filed for protection from their creditors it reported more
than $100,000,000 in total assets. It also disclosed owing more
than $100,000,000 to at most 10,000 creditors, including $708,679
to Broadspire and $282,949 to General Motors of Canada Limited.

The company and its debtor-affiliates filed their second Chapter
11 bankruptcy on Nov. 19, 2007 (Bankr. W.D.N.Y. Case Nos: 07-04746
thru 07-04760).  Tobias S. Keller, Esq., at Jones Day, represents
the Debtors.  Garry M. Graber, Esq., at Hodgson, Russ LLP, serve
as the Debtors' local counsel.  The Debtors' claims and balloting
agent is Kutzman Carson Consultants LLC.  (Performance
Bankruptcy News, Issue No. 55; Bankruptcy Creditors' Services
Inc.; http://bankrupt.com/newsstand/or 215/945-7000).

As reported in the Troubled Company Reporter on July 18, 2008,
the Court converted the Debtors' Chapter 11 cases to cases under
Chapter 7 of the Bankruptcy Code, effective as of July 14, 2008.  
Mark S. Wallach was appointed as the trustee for Performance
Transportation, Inc., et al.'s, Chapter 7 case.


PERFORMANCE TRANS: Delivers Operating Report for August 2008
------------------------------------------------------------
Clear Thinking Group, LLC, the liquidating trustee appointed
under Performance Transportation Services Inc., et al.'s
confirmed plan of reorganization, delivered to the U.S.
Bankruptcy Court for the Western District of New York an operating
report for the PTS Liquidating Trust from Aug. 1 to 30, 2008.

The Liquidating Trustee reports the Trust made $15,812 in net
disbursements during the reporting period.  The Trust's operating
account had an ending balance of $38,045 from a $41,596 balance
at the start of the month.

The Trust's money market account had an ending balance of
$71,332 from a $71,153 balance at the start of the month.

The Liquidating Trustee is represented in the cases by David
Neier, Esq., at Arent Fox, LLP, in New York.

Performance Transportation Services Inc. is the second largest
transporter of new automobiles, sport-utility vehicles and light
trucks in North America, and operates under three key
transportation business lines including: E. and L. Transport,
Hadley Auto Transport and Leaseway Motorcar Transport.

The company and 13 of its affiliates previously filed for
Chapter 11 protection on Jan. 25, 2006 (Bankr. W.D.N.Y. Lead Case
No. 06-00107). The U.S. Bankruptcy Court for the Western District
of New York confirmed the Debtors' plan on Dec. 21, 2006, and that
plan became effective on Jan. 29, 2007. Garry M. Graber, Esq. of
Hodgson, Russ LLP and Tobias S. Keller, Esq. of Jones Day
represented the Debtors in their restructuring efforts.  When the
Debtor filed for protection from their creditors it reported more
than $100,000,000 in total assets. It also disclosed owing more
than $100,000,000 to at most 10,000 creditors, including $708,679
to Broadspire and $282,949 to General Motors of Canada Limited.

The company and its debtor-affiliates filed their second
Chapter 11 bankruptcy on Nov. 19, 2007 (Bankr. W.D.N.Y. Case Nos:
07-04746 thru 07-04760).  Tobias S. Keller, Esq., at Jones Day,
represents the Debtors.  Garry M. Graber, Esq., at Hodgson, Russ
LLP, serve as the Debtors' local counsel.  The Debtors' claims and
balloting agent is Kutzman Carson Consultants LLC.  (Performance
Bankruptcy News, Issue No. 55; Bankruptcy Creditors' Services
Inc.; http://bankrupt.com/newsstand/or 215/945-7000).

As reported in the Troubled Company Reporter on July 18, 2008,
the Court converted the Debtors' Chapter 11 cases to cases under
Chapter 7 of the Bankruptcy Code, effective as of July 14, 2008.  
Mark S. Wallach was appointed as the trustee for Performance
Transportation, Inc., et al.'s, Chapter 7 case.


PERFORMANCE TRANS: Files Operating Report for July 2008
-------------------------------------------------------
Clear Thinking Group, LLC, the liquidating trustee appointed
under Performance Transportation Services Inc., et al.' confirmed
plan of reorganization, delivered to the U.S. Bankruptcy Court
for the Western District of New York an operating report for the
PTS Liquidating Trust from July 1 to 31, 2008.

The Liquidating Trustee reports the Trust made $14,257 in net
disbursements during the reporting period.  The Trust's operating
account had an ending balance of $41,596 from a $55,854 balance
at the start of the month.

The Trust's money market account had an ending balance of $71,153
from a $70,975 balance at the start of the month.

The Liquidating Trustee is represented in the cases by David
Neier, Esq., at Arent Fox, LLP, in New York.

Performance Transportation Services Inc. is the second largest
transporter of new automobiles, sport-utility vehicles and light
trucks in North America, and operates under three key
transportation business lines including: E. and L. Transport,
Hadley Auto Transport and Leaseway Motorcar Transport.

The company and 13 of its affiliates previously filed for
Chapter 11 protection on Jan. 25, 2006 (Bankr. W.D.N.Y. Lead Case
No. 06-00107). The U.S. Bankruptcy Court for the Western District
of New York confirmed the Debtors' plan on Dec. 21, 2006, and that
plan became effective on Jan. 29, 2007. Garry M. Graber, Esq. of
Hodgson, Russ LLP and Tobias S. Keller, Esq. of Jones Day
represented the Debtors in their restructuring efforts.  When the
Debtor filed for protection from their creditors it reported more
than $100,000,000 in total assets. It also disclosed owing more
than $100,000,000 to at most 10,000 creditors, including $708,679
to Broadspire and $282,949 to General Motors of Canada Limited.

The company and its debtor-affiliates filed their second
Chapter 11 bankruptcy on Nov. 19, 2007 (Bankr. W.D.N.Y. Case Nos:
07-04746 thru 07-04760).  Tobias S. Keller, Esq., at Jones Day,
represents the Debtors.  Garry M. Graber, Esq., at Hodgson, Russ
LLP, serve as the Debtors' local counsel.  The Debtors' claims and
balloting agent is Kutzman Carson Consultants LLC.  (Performance
Bankruptcy News, Issue No. 55; Bankruptcy Creditors' Services
Inc.; http://bankrupt.com/newsstand/or 215/945-7000).

As reported in the Troubled Company Reporter on July 18, 2008,
the Court converted the Debtors' Chapter 11 cases to cases under
Chapter 7 of the Bankruptcy Code, effective as of July 14, 2008.  
Mark S. Wallach was appointed as the trustee for Performance
Transportation, Inc., et al.'s, Chapter 7 case.


PROPEX INC: Amends Schedules of Assets and Liabilities
------------------------------------------------------
Propex, Inc., amended its Schedules of Assets and Liabilities on
Oct. 9, 2008.  Under the Amended Schedules, Propex recorded a
decrease of $940,706 of its previously declared assets.  Propex
also reported an increase in its liabilities from $431,632,790 to
$437,090,653:

                                      Original         Amended    
                                     Schedules        Schedules   
                                     ---------        ---------   
  A. Assets
     Real Property                  $48,949,308     $49,164,308
     Personal Property             $276,208,174    $275,052,468

  B. Liabilities
     Secured Priority Claims        $229,271,140   $234,559,029
     Unsecured Priority Claims        $2,186,221     $2,184,857
     Unsecured Non-priority Claims  $200,175,428   $200,346,766

A full-text copy of Propex Inc.'s Amended Schedules is available
for free at http://ResearchArchives.com/t/s?3415

Headquartered in Chattanooga, Tennessee, Propex Inc. --
http://www.propexinc.com/-- produces geosynthetic, concrete,
furnishing, and industrial fabrics and fiber.  It also produces
primary and secondary carpet backing.  Propex operates in North
America, Europe, and Brazil.

The company and its debtor-affiliates filed for Chapter 11
protection on Jan. 18, 2008 (Bankr. E.D. Tenn. Case No.
08-10249).  The Debtors have selected Edward L. Ripley, Esq.,
Henry J. Kaim, Esq., and Mark W. Wege, Esq. at King & Spalding, in
Houston, Texas, to represent them.  The Official Committee of
Unsecured Creditors have tapped Ira S. Dizengoff, Esq., at Akin
Gump Strauss Hauer & Feld, LLP, in New York, to be its counsel.

The Court extended the exclusive plan filing period of the Debtors
through Oct. 20, 2008, and their exclusive solicitation period
through Dec. 19, 2008.

As of June 29, 2008, the Debtors' balance sheet showed total
assets of $562,700,000, and total debts of $551,700,000.

(Propex Bankruptcy News, Issue No. 18; Bankruptcy Creditors'
Service Inc., http://bankrupt.com/newsstand/or 215/945-7000)


REFCO INC: Files Operating Report for Period Ended August 31
-----------------------------------------------------------
Albert Togut, the Chapter 7 Trustee overseeing the liquidation
of Refco, LLC's estate, filed with the U.S. District Court for
the Southern District of New York a monthly statement of cash
receipts and disbursements for the period from Aug. 1 to 31, 2008.

The Chapter 7 Trustee reports that Refco LLC's beginning balance
in its Money Market account with JPMorgan Chase Bank, N.A.,
totaled $78,724,000 as of August 1.

During the Reporting Period, Refco LLC received $159,000 and
transferred a negative amount of $1,555,000 from its Money
Market Account.  The Debtor disbursed $157,000,000 and held
$71,171,000 at the end of the period.

                           Refco, LLC
           Schedule of Cash Receipts and Disbursements
      Through JPMorgan Money Market and Checking Accounts
                August 1 through August 31, 2008

Beginning Balance, May 1, 2008                       $78,724,000

RECEIPTS
Interest Income                                          119,000
Man Financial - Return of Erroneous Funds Received
Man Financial - Excess Capital return
Other Receivables                                         40,000
                                                     -----------
    TOTAL RECEIPTS                                       159,000

TRANSFERS
Money Market Account to Checking Account              (1,555,000)
                                                     -----------
    TOTAL TRANSFERS                                   (1,555,000)

DISBURSEMENTS
Operating Expenses and Other Disbursements                89,000
Reorganization Expenses
   Attorney Fees                                          68,000
                                                     -----------
    TOTAL DISBURSEMENTS                                  157,000
                                                     -----------
Ending Balance, May 31, 2008                         $77,171,000
                                                     ===========

                          About Refco Inc.

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

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

The Court confirmed the Modified Joint Chapter 11 Plan of
Refco Inc. and certain of its Direct and Indirect Subsidiaries,
including Refco Capital Markets, Ltd., and Refco F/X Associates,
LLC, on Dec. 15, 2006.  That Plan became effective on Dec. 26,
2006.  (Refco Bankruptcy News, Issue No. 88; 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
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Nothing in the TCR constitutes an offer or solicitation to buy or
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Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
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Don't be fooled.  Assets, for example, reported at historical cost
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Monthly Operating Reports are summarized in every Saturday edition
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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.  Julybien D. Atadero, Sheryl Joy P. Olano, Ronald C. Sy, Joel
Anthony G. Lopez, Cecil R. Villacampa, Ludivino Q. Climaco, Jr.,
Loyda I. Nartatez, Tara Marie A. Martin, Joseph Medel C. Martirez,
Ma. Cristina I. Canson, Christopher G. Patalinghug, and Peter A.
Chapman, Editors.

Copyright 2008.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
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