/raid1/www/Hosts/bankrupt/TCR

/raid1/www/Hosts/bankrupt/TCR_Public/090321.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, March 21, 2009, Vol. 13, No. 79 Headlines ATA AIRLINES: Files Monthly Operating Report for January 2009 CATHOLIC CHURCH: Fairbanks' Monthly Operating Report for December CATHOLIC CHURCH: Fairbanks' Operating Report for January 2009 FLYING J: Posts $5.3 Million Net Loss in January 2009 LAKE AT LAS: Posts $4,330,898 Net Loss in January 2009 LANDAMERICA FINANCIAL: LES' Operating Report for December 2008 LANDAMERICA FINANCIAL: LES' Operating Report for January 2009 LANDAMERICA FINANCIAL: LFG's Operating Report for December 2008 LANDAMERICA FINANCIAL: LFG's Operating Report for January 2009 LEXINGTON PRECISION: Posts $1,069,000 Net Loss in January 2009 MASONITE INTERNATIONAL: Files Balance Sheet as of June 30, 2008 POWERMATE CORP: Jan. 31 Balance Sheet Upside-Down by $67.6 Million POWERMATE CORP: Holding Posts $2,091,253 Net Loss in January 2009 POWERMATE CORP: International Files January Operating Report REFCO INC: REFCO LLC's Monthly Operating Report for January 2009 RITZ CAMERA: Files Initial Monthly Operating Report SHARPER IMAGE: Files Monthly Operating Report for January 2009 SPANSION INC: Files Initial Monthly Operating Report TRIBUNE COMPANY: Files Operating Report for Month Ended February 1 WCI COMMUNITIES: Posts Net Loss of $18.8 Million in December 2008 WCI COMMUNITIES: Posts $18.8 Million Net Loss in January 2009 ********* ATA AIRLINES: Files Monthly Operating Report for January 2009 ------------------------------------------------------------- ATA Airlines' chief restructuring officer Steve Turoff filed with the U.S. Bankrupty Court for the or the Southern District of Indiana the company's operating report for the period January 1 to 31, 2009. Mr. Turoff disclosed that ATA Airlines had $2,341,623 in cash profit and $14,487 in total payables for January. The total professional fee incurred by or on behalf of ATA Airlines for services related to its bankruptcy case during the month is $936,353. ATA Airlines, Inc. Receipts and Disbursements Month Ended January 31, 2009 RECEIPTS Military - Charter - Scheduled Service - US Bank - Amex - Discover - Diner's Club - Other Scheduled Service - Asset Sales--Inventory $1,213,164 Asset Sales--Ground Equipment - Asset Sales--Rotables - Asset Sales?-L1011 - Return of Deposits/Prepaids - Cash Collateral/LOCs 1,037,084 Interest 6,453 Miscellaneous 520,789 ------------ Total $2,777,490 ============ DISBURSEMENTS Base Payroll Inc. All Taxes $223,945 Stay Bonus - Benefits - Employee Expense Payments 2,122 Outside Director Fees 1,000 Facilities 2,100 Utilities/Communications 2,350 Contract Labor 26,720 Professionals 82,741 US Trustee 12,350 Aircraft Ferry Cost 65,000 Engine Changes/Certificate Mx 9,156 Insurance--D&O/Misc. - Health Insurance Run-off Reserve - Cobra Reserve - Security - Shipping/Cargo 63 Returned Checks - Miscellaneous 8,320 ------------ Total $435,867 Beginning Balance $44,804,679 Receipts 2,777,490 Disbursements (435,867) ------------ Ending Balance $47,146,301 ============ About ATA Airlines Headquartered in Indianapolis, Indiana, ATA Airlines, Inc., was a diversified passenger airline operating in two principal business lines -- a low cost carrier providing scheduled passenger service that leverages a code share agreement with Southwest Airlines; and a charter operator that focused primarily on providing charter service to the U.S. government and military. ATA is a wholly owned subsidiary of New ATA Acquisition, Inc. -- a wholly owned subsidiary of New ATA Investment, Inc., which in turn, is a wholly owned subsidiary of Global Aero Logistics Inc. ATA Acquisition also owns another holding company subsidiary, World Air Holdings, Inc., which it acquired through merger on August 14, 2007. World Air Holdings owns and operates two other airlines, North American Airlines and World Airways. ATA Airlines and its affiliates filed for Chapter 11 protection on Oct. 26, 2004 (Bankr. S.D. Ind. Case Nos. 04-19866, 04-19868 through 04-19874). The Honorable Basil H. Lorch III confirmed the Debtors' plan of reorganization on Jan. 31, 2006. The Debtors' emerged from bankruptcy on Feb. 28, 2006. Global Aero Logistics acquired certain of ATA's operations after its first bankruptcy. The remaining ATA affiliates that were not substantively consolidated in the company's first bankruptcy case were sold or otherwise liquidated. ATA Airlines filed for Chapter 22 on April 2, 2008 (Bankr. S.D. Ind. Case No. 08-03675), citing the unexpected cancellation of a key contract for ATA's military charter business, which made it impossible for ATA to obtain additional capital to sustain its operations or restructure the business. ATA discontinued all operations subsequent to the bankruptcy filing. ATA's Chapter 22 bankruptcy petition lists assets and liabilities each in the range of $100 million to $500 million. The Debtor is represented in its Chapter 22 case by Haynes and Boone, LLP, and Baker & Daniels, LLP, as bankruptcy counsel. The United States Trustee for Region 10 appointed five members to the Official Committee of Unsecured Creditors. Otterbourg, Steindler, Houston & Rosen, P.C., serves as bankruptcy counsel to the Committee. FTI Consulting, Inc., acts as the panel's financial advisors. The Court gave ATA Airlines Inc. until Feb. 26, 2009, to file its Chapter 11 plan and April 27, 2009, to solicit acceptances of that plan. ATA Airlines submitted to the Court its Chapter 11 Plan of Reorganization and accompanying Disclosure Statement on December 12, 2008, two weeks after it completed the sale of its key assets to Southwest Airlines Inc. Bankruptcy Creditors' Service, Inc., publishes ATA Airlines Bankruptcy News. The newsletter tracks the chapter 11 case of ATA Airlines, Inc. (http://bankrupt.com/newsstand/or 215/945-7000) CATHOLIC CHURCH: Fairbanks' Monthly Operating Report for December ----------------------------------------------------------------- Catholic Bishop of Northern Alaska Statement of Financial Position As of December 31, 2008 CBNA Held for ASSETS Total Others ----- -------- Cash and cash equivalents $1,081,472 $119,047 Investments: Valuables in safe 168 - Trust account @ market 762,976 - 457 Plan assets @ market - 119,679 Endowment Fund @ market - 14,475,329 Endowment Fund - earnings @ market (2,521,642) - Stocks 799 - Limited partnerships 261,324 - Accounts receivable, net of allowance: Tuition, fees and others 862,501 - For parishes and school 38,647 - Other 7,318 - Notes and other receivables 344,687 - Grants pledged 62,500 - Fixed assets, net at cost: Land and building 7,818,560 - Aircraft 123,341 - Equipment - - Other assets 338,777 - ---------- ---------- Total Assets $9,181,436 $14,714,057 ========== ========== LIABILITIES AND NET ASSETS Liabilities: Accounts payable/accrued liabilities $539,182 - Notes payable 216,966 - D.I.P. Loan 1,000,000 - Benefits payable 69,807 - Deferred revenue 878,249 - Annuities payable 215,684 - Other liabilities 25,799 - Payroll-related liabilities: Payroll taxes 56,218 - General vacation accrual account 16,339 - Tax sheltered annuity 19,934 - Accrued leave 260,853 - Insurance: Long term disability 450 - Insurance deposits payables 140,630 - Insurance reserves expense 40,562 - Indemnity insurance reserves 121 - Medical/Dental payroll deduction 210,889 - CBNA building loan - - ---------- ---------- Total Liabilities 3,691,691 - ---------- ---------- Total net assets 5,489,745 $14,714,057 ---------- ---------- Total Liabilities and Net Assets $9,181,436 $14,714,057 ========== ========== Catholic Bishop of Northern Alaska Statement of Activities For the month ending December 31, 2008 CBNA Held for Total Others Support and revenue: ----- -------- Parish assessments $14,357 - Tuition, net of tuition assistance 200,277 - Curricular income 7,488 - Donations 1,141,020 - Investment income 255,164 $40,579 Other income 9,128 12,750 Temporarily restricted gifts 20,987 - ---------- ---------- Total support and revenue 1,648,422 53,329 Expenses: Operating expenses 59,277 - Supplies 17,528 - Repair & Maintenance 43,390 - Utilities 53,269 - Insurance 14,808 - Staff Expenses: Salaries & Wages 376,872 - Payroll Taxes 23,948 - Employee Benefits 89,684 - Curricular Expenses 15,798 - Recruiting, advertising and PRs - - Travel Expenses 9,800 - Student related expenses - - Contributions - - Professional and technical fees 22,825 - Investment services 10,060 (1,386) Subsidies 69,716 - Rental/Lease Expense 33,105 - Assessments (14,357) - Fund Raising Expense 12,889 - Radio Programming Expense 2,022 - Radio Technical Dept. Expenses 2,409 - Miscellaneous Expense 9,009 - ---------- ---------- Total General 852,060 (1,386) Funds released from restricted funds - - Net change in designated funds - - ---------- ---------- Total Expenses 852,060 (1,386) ---------- ---------- Increase (decrease) in net assets 796,362 54,716 ---------- ---------- Re-organization costs 200,569 - Increase (decrease) in net assets ---------- ---------- after Re-org costs 595,792 54,716 Net assets: Beginning of month 4,893,952 14,659,340 ---------- ---------- End of month $5,489,745 $14,714,057 ========== ========== Catholic Bishop of Northern Alaska Cash Receipts and Disbursements For the month ending December 31, 2008 CBNA Held for Total Others ----- -------- Beginning balance - February 2008 $485,237 $77,681 Total receipts - prior gen. account reports 10,572,901 1,231,845 Less total disbursements 10,723,111 1,131,450 ---------- ---------- Beginning balance - November 30, 2008 335,026 178,076 Receipts during current period: Transfers between internal accounts 70,100 - Funds received by CBNA from KNOM 54,000 - Funds received from Catholic Schools 31,216 - Funds received by KNOM from CBNA 2,722 - Funds received by Catholic Schools 65,393 - Funds collected from others 123,902 123,902 Custodial funds 33,466 33,466 Accounts receivable 157,281 - Restricted funds and endowment gifts 52,210 - Donations 966,628 - Grants 4,750 - Interest & dividends 349 - Gains (Losses) security sales 108 - Proceeds from the sale of stock 5,106 - Payment refund/return 7,029 - Programs 2,471 - Weather service income 150 - Co-curricular income 7,488 - Other income/fees 3,932 - Miscellaneous 39 - Sale of fixed assets 149,975 - Sale of books and cards 6,003 - Loan proceeds 700,000 - ---------- ---------- Total receipts this period 2,444,325 157,369 ---------- ---------- Balance 2,779,352 335,445 Less total disbursements: Transfers between internal accounts 70,100 - Transfers from KNOM to CBNA 54,000 - Transfers from Cath. Schools to CBNA 31,216 - Transfers from CBNA to Cath. Schools 42,703 - Funds disbursed for others 84,866 84,866 Custodial funds 15,008 15,008 Co-curricular expense 24,624 - Curricular expense 5,405 - Programming - News service 1,992 - Wages & salaries 351,231 - Employee benefits 165,606 - Staff development 7,745 - Supplies: maintenance/repairs 1,720 - Supplies: office 10,972 - Scholarships/donations/financial aid 250 - Maintenance/repairs 35,002 - Fundraising 12,889 - Telephone/Internet 2,423 - Utilities 34,142 - Dues/Fees 1,882 - Refunds 70 - Travel 15,967 - Printing and copying 1,349 - Postage 29,817 - Services & insurance 503 - Reimbursements 929 - Taxes 45,727 - NSF's 3,673 - Bank fees and charges 2,516 - Interest expense 594 - Music license fee 30 - List rental and copy leases 19,936 - Restricted 1,014 - Annuities 964 - Professional fees - Chapter 11 371,244 - Professional fees 19,211 - Miscellaneous 820 - Advertising 12,408 - Supplies: food 3,143 - Mass stipends 1,075 - Subscriptions 6,708 - Subsidies 88,585 - Supplies: religious 309 - ---------- ---------- Total disbursements this period 1,580,384 99,875 ---------- ---------- Ending balance - December 31, 2008 $1,198,968 $235,570 ========== ========== 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. 135; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000). CATHOLIC CHURCH: Fairbanks' Operating Report for January 2009 ------------------------------------------------------------- Catholic Bishop of Northern Alaska Statement of Financial Position As of January 31, 2008 CBNA Held for ASSETS Total Others ----- -------- Cash and cash equivalents $760,474 $124,484 Investments: Valuables in safe 168 - Trust account @ market 743,535 - 457 Plan assets @ market - 111,461 Endowment Fund @ market - 14,403,878 Endowment Fund - earnings @ market (3,092,740) - Stocks 5,551 - Limited partnerships 261,324 - Accounts receivable, net of allowance: Tuition, fees and others 691,429 - For parishes and school 45,554 - Other 22,140 - Notes and other receivables 343,768 - Grants pledged 62,500 - Fixed assets, net at cost: Land and building 7,818,560 - Aircraft 123,341 - Equipment - - Other assets 298,050 - ---------- ---------- Total Assets $8,083,662 $14,639,824 LIABILITIES AND NET ASSETS Liabilities: Accounts payable/accrued liabilities $375,549 - Notes payable 216,966 - D.I.P. Loan 1,000,000 - Benefits payable 50,465 - Deferred revenue 706,880 - Annuities payable 215,684 - Other liabilities 24,732 - Payroll-related liabilities: Payroll taxes 56,109 - General vacation accrual account 16,339 - Tax sheltered annuity - - Accrued leave 264,089 - Insurance: Long term disability 444 - Insurance deposits payables 80,981 - Insurance reserves expense 40,562 - Indemnity insurance reserves 32 - Medical/Dental payroll deduction 207,583 - CBNA building loan - - ---------- ---------- Total Liabilities 3,256,422 - ---------- ---------- Total net assets 4,827,240 14,639,824 ---------- ---------- Total Liabilities and Net Assets $8,083,662 $14,639,824 ========== ========== Catholic Bishop of Northern Alaska Statement of Activities For the month ending January 31, 2008 CBNA Held for Total Others Support and revenue: ----- -------- Parish assessments $14,357 - Tuition, net of tuition assistance 184,959 - Curricular income 23,270 - Donations 580,322 - Investment income (565,932) ($91,398) Other income 6,401 20,585 Temporarily restricted gifts 79,373 - ---------- ---------- Total support and revenue 322,752 (70,813) Expenses: Operating expenses 92,764 - Supplies 19,689 - Repair & Maintenance 24,308 - Utilities 47,383 - Insurance 17,013 - Staff Expenses: Salaries & Wages 395,523 - Payroll Taxes 25,148 - Employee Benefits 98,388 - Curricular Expenses 29,015 - Recruiting, advertising and PRs (299) - Travel Expenses 20,226 - Student related expenses - - Contributions 25 - Professional and technical fees 37,643 - Investment services 4,163 $404 Subsidies 21,978 - Rental/Lease Expense 50,450 - Assessments 17,757 - Fund Raising Expense 6,308 - Radio Programming Expense 15,632 - Radio Technical Dept. Expenses 7,754 - Miscellaneous Expense 5,304 - ---------- ---------- Total General 936,177 404 Funds released from restricted funds - - Net change in designated funds - - ---------- ---------- Total Expenses 936,177 404 ---------- ---------- Increase (decrease) in net assets (613,425) (71,217) ---------- ---------- Re-organization costs 49,079 - Increase (decrease) in net assets ---------- ---------- after Re-org costs (662,504) (71,217) Net assets: Beginning of month 5,489,745 14,711,042 ---------- ---------- End of month 4,827,240 14,639,824 ========== ========== Catholic Bishop of Northern Alaska Cash Receipts and Disbursements For the month ending January 31, 2008 CBNA Held for Total Others ----- -------- Beginning balance - February 2008 $485,237 $77,681 Total receipts - prior gen. account reports 13,017,227 1,389,214 Less total disbursements 12,303,496 1,231,325 ---------- ---------- Beginning balance - December 31, 2008 1,198,968 235,570 Receipts during current period: Transfers between internal accounts 282,740 - Funds received by CBNA from KNOM 57,931 - Funds received from Catholic Schools 31,913 - Funds received by Catholic Schools 34,038 - Funds collected from others 104,778 104,778 Custodial funds 7,174 7,174 Accounts receivable 181,098 - Restricted funds and endowment gifts 97,208 - Donations 587,425 - Interest & dividends 390 - Gains (Losses) security sales 25 - Payment refund/return 1,253 - Programs 15,614 - Weather service income 150 - Co-curricular income 17,345 - Stock processing 799 - Other income/fees 3,211 - Miscellaneous 15 - Sale of books and cards 2,767 - ---------- ---------- Total receipts this period 1,425,882 111,952 ---------- ---------- Balance 2,624,851 347,523 Less total disbursements: Transfers between internal accounts 282,740 - Transfers from KNOM to CBNA 57,931 - Transfers from Cath. Schools to CBNA 31,913 - Transfers from CBNA to Cath. Schools 58,077 - Funds disbursed for others 116,505 116,505 Custodial funds 6,022 6,022 Co-curricular expense 20,484 - Curricular expense 8,651 - Programming - News service 14,499 - Wages & salaries 346,949 - Employee benefits 117,147 - Staff development 3,947 - Furniture, fixtures & equipments 3,199 - Supplies: maintenance/repairs 4,089 - Supplies: office 19,670 - Administrative 109 - Maintenance/repairs 27,361 - Rent 1,014 - Fundraising 6,308 - Telephone/Internet 3,238 - Utilities 64,241 - Dues/Fees 386 - Refunds 1,706 - Travel 26,442 - Printing and copying 12,106 - Postage 36,111 - Services & insurance 70,515 - Reimbursements 3,717 - Education expenses 278 - Taxes 45,427 - NSF's 2,712 - Bank fees and charges 2,685 - Interest expense 2,786 - Music license fee 114 - List rental and copy leases 34,903 - Annuities 2,642 - Professional fees - Chapter 11 194,023 - Professional fees 37,916 - Miscellaneous 54 - Advertising 8,085 - Supplies: food 2,989 - Mass stipends 11,484 - Subscriptions 7,574 - Subsidies 22,515 - Supplies: religious 579 - Assessments: ACCB, USCCB 3,399 - Charitable contributions 1,617 - Transfers to CTNA 14,613 - ---------- ---------- Total disbursements this period 1,741,494 122,528 ---------- ---------- Ending balance - January 31, 2008 $883,356 $224,994 ========== ========== 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. 135; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000). FLYING J: Posts $5.3 Million Net Loss in January 2009 ----------------------------------------------------- Flying J Inc. posted a net loss of $5.3 million on sales of $275.7 million for the month ended January 31, 2009. At January 31, 2009, Flying J Inc. had $1.37 billion in total assets, $812.61 billion in total liabilities, and $556.23 billion in shareholders' equity. A full-text copy of Flying J's monthly operating report for January 2009, is available at: http://bankrupt.com/misc/FlyingJ.January2009MOR.pdf About Flying J Headquartered in Ogden, Utah, Flying J Inc. -- http://www.flyingj.com-- operate an oil company with operations in the field of exploration and refining of petroleum products. The Debtors engage in online banking, card processing, truck and trailer leasing, and payroll services. The Debtors also operate about 200 travel plazas in 41 states and six Canadian provinces. The company and six of its affiliates filed for Chapter 11 protection on Dec. 22, 2008 (Bankr. D. Del. Lead Case No. 08-13384). Kirkland & Ellis LLP represents the Debtors' in their restructuring efforts and Young, Conaway, Stargatt & Taylor LLP as their Delaware Counsel. The Debtors proposed The Blackstone Group LP as financial advisor and Epiq Bankruptcy Solutions LLC as claims agent. When the Debtors filed for protection from its creditors, they listed assets more than $1 billion and debts between $100 million to $500 million. LAKE AT LAS: Posts $4,330,898 Net Loss in January 2009 ------------------------------------------------------ Lake at Las Vegas Joint Venture, LLC, posted a net loss of $4,330,898 on total revenues of ($1,544,359) for the month ended January 31, 2009. At January 31, 2009, Lake at Las Vegas had total assets of $663,965,363, total liabilities of $790,656,635 and stockholders' deficit of $126,691,273. http://bankrupt.com/misc/LakeatLas.January2009MOR.pdf About Lake at Las Vegas Headquartered in Henderson, Nevada, Lake at Las Vegas Joint Venture, LLC and 14 of its debtor-affiliates -- http://www.lakelasvegas.com/-- are owners and developers of 3,592-acre residential and resort destination Lake Las Vegas Resort in Las Vegas, Nevada. Centered around a 320-acre man-made lake, Lake Las Vegas contains more than 9,000 residential units, and also includes two luxury resort hotels (a Loews and a Ritz- Carlton), a casino, a specialty retail village shopping area, marinas, three signature golf courses and related clubhouses, and other real property. The Debtors filed separate petitions for Chapter 11 relief on July 17, 2008 (Bankr. D. Nev. Lead Case No. 08-17814). When Lake at Las Vegas Joint Venture, LLC filed for protection from its creditors, it listed assets of $100 million to $500 million, and debts of $500 million to $1.0 billion. Courtney E. Pozmantier, Esq., Martin R. Barash, Esq., at Klee, Tuchin, Bogdanoff & Stern LLP, Jason D. Smith, Esq., at Santoro, Driggs, Walch, Kearney, Holley & Thompson, Jeanette E. McPherson, Esq., Lenard E. Schwartzer, Esq., at Schwartzer & McPherson Law Firm, represent the Debtors as counsel. Kaaran E. Thomas, Esq., Ryan J. Works, Esq., at McDonald Carano Wilson LLP, represent the Official Committee of Unsecured Creditors as counsel. LANDAMERICA FINANCIAL: LES' Operating Report for December 2008 -------------------------------------------------------------- LandAmerica 1031 Exchange Services, Inc. Balance Sheet As of December 31, 2008 Assets Cash and Cash Equivalents $275,686,000 Auction Rate Securities 159,843,000 Taxes receivable 133,000 Property and Equipment 127,000 Goodwill and Intangible Assets 452,000 Other Assets 361,000 --------------- Total Assets $436,602,000 =============== Liabilities Accounts payable and accrued liabilities $125,000 Intercompany payables - 245,000 Postpetition Liabilities subject to compromise 487,984,000 --------------- Total Liabilities 488,354,000 Total Shareholders' Equity (51,752,000) --------------- Total Liabilities and Shareholders' Equity $436,602,000 =============== LandAmerica 1031 Exchange Services, Inc. Statement of Operations For Month Ended December 31, 2008 Revenue: Interest and other income $970,000 Expenses General, administrative and other expenses 252,000 --------------- Net Income ($718,000) =============== LandAmerica 1031 Exchange Services, Inc. Schedule of Cash Receipts and Disbursements For Month Ended December 31, 2008 Opening Cash Balance $274,716,000 Receipts Investment Income 970,000 --------------- Ending Cash $275,686,000 =============== About LandAmerica Financial LandAmerica Financial Group, Inc., is a leading provider of real estate transaction services with offices nationwide and a vast network of active agents. LandAmerica serves its agent, residential, commercial and lender customers throughout the United States, Mexico, Canada, the Caribbean, Latin America, Europe, and Asia. LandAmerica Financial Group and its affiliate LandAmerica 1031 Exchange Services, Inc., filed for Chapter 11 protection November 26, 2008 (Bankr. E.D. Va. Lead Case No. 08-35994). Dion W. Hayes, Esq., and John H. Maddock III, Esq., at McGuireWoods LLP, are the Debtors' bankruptcy counsel. In its bankruptcy petition, LFG listed total assets of $3,325,100,000, and total debts of $2,839,800,000 as of September 30, 2008. Bankruptcy Creditors' Service, Inc., publishes LandAmerica Bankruptcy News. The newsletter tracks the chapter 11 proceeding undertaken by LandAmerica Financial and its affiliate LandAmerica 1031 Exchange Services, Inc. (http://bankrupt.com/newsstand/or 215/945-7000) LANDAMERICA FINANCIAL: LES' Operating Report for January 2009 ------------------------------------------------------------- LandAmerica 1031 Exchange Services, Inc. Balance Sheet As of January 31, 2009 Assets Cash and Cash Equivalents $276,319,000 Auction Rate Securities 159,843,000 Taxes receivable 133,000 Property and Equipment 123,000 Goodwill and Intangible Assets 452,000 Other Assets 339,000 --------------- Total Assets $437,208,000 =============== Liabilities Accounts payable and accrued liabilities $3,251,000 Intercompany payables - 358,000 Postpetition Liabilities subject to compromise 487,991,000 --------------- Total Liabilities 491,599,000 Total Shareholders' Equity (54,391,000) --------------- Total Liabilities and Shareholders' Equity $437,208,000 =============== LandAmerica 1031 Exchange Services, Inc. Statement of Operations For the month ended January 31, 2009 Revenue: Interest and other income $606,000 Expenses Professional Fees 3,159,000 General, administrative and other expenses 85,000 --------------- Net Income ($2,639,000) =============== LandAmerica 1031 Exchange Services, Inc. Schedule of Cash Receipts and Disbursements For Month Ended January 31, 2009 Opening Cash Balance $275,686,000 Receipts Investment Income 606,000 Other Receipts 27,000 --------------- Ending Cash $276,319,000 =============== About LandAmerica Financial LandAmerica Financial Group, Inc., is a leading provider of real estate transaction services with offices nationwide and a vast network of active agents. LandAmerica serves its agent, residential, commercial and lender customers throughout the United States, Mexico, Canada, the Caribbean, Latin America, Europe, and Asia. LandAmerica Financial Group and its affiliate LandAmerica 1031 Exchange Services, Inc., filed for Chapter 11 protection November 26, 2008 (Bankr. E.D. Va. Lead Case No. 08-35994). Dion W. Hayes, Esq., and John H. Maddock III, Esq., at McGuireWoods LLP, are the Debtors' bankruptcy counsel. In its bankruptcy petition, LFG listed total assets of $3,325,100,000, and total debts of $2,839,800,000 as of September 30, 2008. Bankruptcy Creditors' Service, Inc., publishes LandAmerica Bankruptcy News. The newsletter tracks the chapter 11 proceeding undertaken by LandAmerica Financial and its affiliate LandAmerica 1031 Exchange Services, Inc. (http://bankrupt.com/newsstand/or 215/945-7000) LANDAMERICA FINANCIAL: LFG's Operating Report for December 2008 --------------------------------------------------------------- LandAmerica Financial Group, Inc. Balance Sheet As of December 31, 2008 Assets Cash $93,378,000 Notes: Fidelity National Title 50,000,000 Other 11,712,000 Investments: Fidelity National Title stock 56,385,000 Fixed maturities available- for-sale 1,113,000 Taxes receivable 23,643,000 Property and equipment 16,769,000 Title Plans 945,000 Other assets 66,876,000 Investments in subsidiaries and consolidated joint ventures 684,298,000 Intercompany receivable 261,638,000 --------------- Total Assets $1,266,757,000 =============== Liabilities Accounts payable and accrued liabilities $21,302,000 Liabilities subject to compromise 499,214,000 --------------- Total Liabilities 520,516,000 Total Shareholders' Equity 746,242,000 --------------- Total Liabilities and Shareholders' Equity $1,266,758,000 =============== LandAmerica Financial Group, Inc. Statement of Operations For Month Ended December 31, 2008 Revenue: Investment and other income $297,000 Valuation adjustment related to Fidelity National Title Stock 6,385,000 --------------- Total Revenue $6,682,000 =============== Expenses General, administrative and other expenses 3,826,000 Depreciation and amortization 344,000 Loss on disposal of subsidiaries 756,647,000 --------------- Total Expenses 760,817,000 --------------- Net Loss before income taxes (754,135,000) Income tax benefit 0 --------------- Net Loss ($754,135,000) =============== Loss on disposal of subsidiaries is related to the sale on certain subsidiaries to Fidelity National Title Insurance Company as part of the Asset Purchase Agreement LandAmerica Financial Group, Inc. Schedule of Cash Receipts and Disbursements For Month Ended December 31, 2008 Operating Cash and Cash Equivalents Held for the benefit; LandAmerica Financial Group, Inc. $2,774,000 Underwriters (9,832,000) Retained Subsidiaries 0 --------------- Opening Cash (7,058,000) --------------- Cash Receipts Collection received for the benefit of; Underwriters 91,839,000 Retained subsidiaries 16,903,000 Payment reimbursements by; Underwriters 18,697,000 Retained Subsidiaries 62,392,000 Proceeds from sale of the Underwriting business; LandAmerica Financial Group, Inc. 75,539,000 Retained Subsidiaries 12,005,000 --------------- Total Receipts 277,375,000 --------------- Cash Disbursement Related to LandAmerica Financial Group, Inc. 633,000 Payables 260,000 Others 760,000 --------------- Total 1,653,000 --------------- Payments made for the benefit of; Underwriters 90,324,000 Retained subsidiaries 84,944,000 --------------- Total Disbursements 176,921,000 Net Cash Flow 100,436,000 --------------- Ending Cash and Cash Equivalents $93,378,000 =============== Ending Cash and Cash Equivalents Held for the benefit; LandAmerica Financial Group, Inc. $76,660,000 Underwriters 10,362,000 Retained subsidiaries 6,356,000 --------------- Total $93,378,000 =============== LFG Cautions Investors In a filing with the United States Securities and Exchange Commission, Michelle H. Gluck, executive vice president and chief legal officer of LFG, cautions LFG's investors and potential investors not to place undue reliance upon the information contained in the Monthly Operating Report, which was not prepared for the purpose of providing the basis for an investment decision relating to any of LFG's securities. According to Mr. Gluck, the Monthly Operating Report: * is limited in scope, covers a limited time period, and has been prepared solely for the purpose of complying with the monthly reporting requirements of the Office of the United States Trustee; * was not audited or reviewed by independent accountants, is in a format prescribed by applicable requirements of the Office of the United States Trustee and is subject to future adjustment and reconciliation; * contains any information beyond that required by the Office of the United States Trustee; and * contains information for periods that are shorter or otherwise different from those required in LFG's reports pursuant to the Securities Exchange Act of 1934, as amended, and the information might not be indicative of LFG's financial condition or operating results for the period that would be reflected in LFG's financial statements or in its reports pursuant to the Exchange Act. Mr. Gluck says that the Monthly Operating Report should not be viewed as indicative of future results. About LandAmerica Financial LandAmerica Financial Group, Inc., is a leading provider of real estate transaction services with offices nationwide and a vast network of active agents. LandAmerica serves its agent, residential, commercial and lender customers throughout the United States, Mexico, Canada, the Caribbean, Latin America, Europe and Asia. LandAmerica Financial Group and its affiliate LandAmerica 1031 Exchange Services, Inc., filed for Chapter 11 protection November 26, 2008 (Bankr. E.D. Va. Lead Case No. 08-35994). Dion W. Hayes, Esq., and John H. Maddock III, Esq., at McGuireWoods LLP, are the Debtors' bankruptcy counsel. In its bankruptcy petition, LFG listed total assets of $3,325,100,000, and total debts of $2,839,800,000 as of September 30, 2008. Bankruptcy Creditors' Service, Inc., publishes LandAmerica Bankruptcy News. The newsletter tracks the chapter 11 proceeding undertaken by LandAmerica Financial and its affiliate LandAmerica 1031 Exchange Services, Inc. (http://bankrupt.com/newsstand/or 215/945-7000) LANDAMERICA FINANCIAL: LFG's Operating Report for January 2009 -------------------------------------------------------------- LandAmerica Financial Group, Inc. Balance Sheet As of January 31, 2009 Assets Cash and Cash Equivalents $97,102,000 Notes: Fidelity National Title 50,000,000 Other 11,712,000 Investments: Fidelity National Title Stock 46,442,000 Taxes receivable 21,856,000 Property and Equipment 16,428,000 Title Plans 945,000 Other Assets 68,053,000 Investments in subsidiaries and joint ventures 684,298,000 Intercompany receivables 269,101,000 --------------- Total Assets $1,265,938,000 =============== Liabilities Accounts payable and accrued liabilities $24,000,000 Liabilities subject to compromise 495,020,000 --------------- Total Liabilities 519,397,000 Total Shareholders' Equity 746,541,000 --------------- Total Liabilities and Shareholders' Equity $1,265,938,000 =============== LandAmerica Financial Group, Inc. Statement of Operations For Month ended January 31, 2009 Revenue Interest and other income $271,000 Valuation adjustment to Fidelity National Title stock (100,006,000) --------------- Total Revenue (9,735,000) --------------- Expenses General, administrative and other expenses 2,768,000 Depreciation and amortization 341,000 Interest Expense 122,000 Loss on disposal of subsidiaries 0 --------------- Total Expenses 3,231,000 --------------- Net Loss before income taxes (12,966,000) Income tax benefit 0 --------------- Net Loss ($12,966,000) =============== LandAmerica Financial Group, Inc. Schedule of Cash Receipts and Disbursements For Month Ended January 31, 2009 Opening Cash and Cash Equivalents Held for the benefit; LandAmerica Financial Group, Inc. $76,660,000 Underwriters 10,362,000 Retained subsidiaries 6,356,000 --------------- Opening Cash 93,378,000 --------------- Cash Receipts Collections received for the benefit of; Underwriters 32,624,000 Retained subsidiaries 12,763,000 Payment reimbursements by; Underwriters 30,914,000 Retained subsidiaries 17,331,000 Proceeds from sale of the Underwriting businesses; LandAmerica Financial Group, Inc. 0 Retained subsidiaries 0 Other Receipts 179,000 --------------- Total Receipts 93,811,000 --------------- Cash Disbursements Related to LandAmerica Financial Group, Inc. Rent and other occupancy costs 440,000 Insurance 745,000 Leases 236,000 Payables 123,000 Bankruptcy Professional Fees 110,000 Other 0 --------------- Total 1,655,000 Payments made for the benefit of; Underwriters 64,091,000 Retained subsidiaries 24,340,000 --------------- Total Disbursements 90,087,000 Net Cash Flow 3,724,000 --------------- Ending Cash and Cash Equivalents $97,102,000 =============== Ending Cash and Cash Equivalents Held for the benefit; LandAmerica Financial Group, Inc. $75,184,000 Underwriters 9,809,000 Retained Subsidiaries 12,109,000 --------------- Total $97,102,000 =============== About LandAmerica Financial LandAmerica Financial Group, Inc., is a leading provider of real estate transaction services with offices nationwide and a vast network of active agents. LandAmerica serves its agent, residential, commercial and lender customers throughout the United States, Mexico, Canada, the Caribbean, Latin America, Europe, and Asia. LandAmerica Financial Group and its affiliate LandAmerica 1031 Exchange Services, Inc., filed for Chapter 11 protection November 26, 2008 (Bankr. E.D. Va. Lead Case No. 08-35994). Dion W. Hayes, Esq., and John H. Maddock III, Esq., at McGuireWoods LLP, are the Debtors' bankruptcy counsel. In its bankruptcy petition, LFG listed total assets of $3,325,100,000, and total debts of $2,839,800,000 as of September 30, 2008. Bankruptcy Creditors' Service, Inc., publishes LandAmerica Bankruptcy News. The newsletter tracks the chapter 11 proceeding undertaken by LandAmerica Financial and its affiliate LandAmerica 1031 Exchange Services, Inc. (http://bankrupt.com/newsstand/or 215/945-7000) LEXINGTON PRECISION: Posts $1,069,000 Net Loss in January 2009 -------------------------------------------------------------- Lexington Precision Corp. and Lexington Rubber Group, Inc., filed with the U.S. Bankruptcy Court for the Southern District of New York their monthly operating report for the month of January 2009. The Debtors reported a net loss of $1,069,000 on net sales of $4,620,000 for the month of January 2009. At January 31, 2009, the Debtors had total assets of $52,322,000, total liabilities of $99,970,000, and a stockholders' deficit of $47,648,000. A full-text copy of the Debtor's monthly operating report for the month of January 2009, is available at: http://bankrupt.com/misc/LexingtonPrecisionJanuary2009MOR.pdf About Lexington Precision Headquartered in New York, Lexington Precision Corp. -- http://www.lexingtonprecision.com/-- manufactures tight- tolerance rubber and metal components for use in medical, automotive, and industrial applications. As of Feb. 29, 2008, the Company employed about 651 regular and 22 temporary personnel. The Company and its affiliate, Lexington Rubber Group Inc., filed for Chapter 11 protection on April 1, 2008 (Bankr. S.D.N.Y. Lead Case No.08-11153). Christopher J. Marcus, Esq., and Victoria Vron, Esq., at Weil, Gotshal & Manges, represent the Debtors in their restructuring efforts. The Debtors selected Epiq Systems - Bankruptcy Solutions LLC as claims agent. The U.S. Trustee for Region 2 appointed six creditors to serve on an Official Committee of Unsecured Creditors. Paul N. Silverstein, Esq., and Jonathan Levine, Esq., at Andrews Kurth LLP, represent the Committee as counsel. At December 31, 2008, the Debtors had total assets of $53,354,000, total liabilities of $100,061,000, and a stockholders' deficit of $46,707,000. MASONITE INTERNATIONAL: Files Balance Sheet as of June 30, 2008 --------------------------------------------------------------- Masonite International, Inc. Unaudited Consolidated Balance Sheet As of June 30, 2008 ASSETS Cash and cash equivalents $241,400,000 Accounts receivable 348,200,000 Inventories 296,500,000 Prepaid expenses 20,700,000 Assets held for sale 5,300,000 Income taxes recoverable 1,800,000 Current future income taxes 36,000,000 -------------- 950,000,000 Property, plant and equipment 786,200,000 Goodwill and other intangible assets 524,400,000 Other assets 19,300,000 Long-term future income taxes 19,100,000 -------------- 1,348,900,000 -------------- Total Assets $2,298,900,000 ============== LIABILITIES AND SHAREHOLDER'S EQUITY Bank indebtedness $355,300,000 Accounts payable and accrued expenses 337,600,000 Income taxes payable 16,100,000 Current future income taxes 2,000,000 Debt due on demand 1,909,600,000 Current portion of debt 9,700,000 -------------- 2,630,400,000 Debt 1,800,000 Long-term future income taxes 98,300,000 Other long-term liabilities 36,000,000 -------------- 2,766,600,000 Non-controlling interest 28,200,000 Share capital 567,200,000 Contributed surplus 7,700,000 Deficit (1,123,200,000) Accumulated other comprehensive income 52,500,000 -------------- (495,900,000) -------------- Total liabilities & shareholders' equity $2,298,900,000 ============== Masonite International, Inc., said it has total assets of $1,527,495,443 and total debts of $2,641,590,842 as of January 31, 2009. About Masonite International Based in Ontario, Canada, Masonite International Corporation -- http://www.masonite.com/-- (TSE:MHM) is a vertically integrated producer, manufacturing key components of doors, including composite molded and veneer door facings, glass door lites and cut stock. The company provides these products to its customers in more than 70 countries around the world. The company is a wholly owned subsidiary of Masonite International Inc. It offers a range of interior and exterior doors. Masonite Canada operates Masonite International's Canadian subsidiaries, well as certain other non- United States subsidiaries. Masonite International, Inc., and six affiliates filed petitions on March 16, 2009, before the Ontario Superior Court of Justice (Commercial List) under the Companies' Creditors Arrangement Act. The Honorable Justice Campbell presides over the CCAA proceedings. Derrick Tay and Orestes Pasparakis at Ernst & Young, Inc. serve as monitor. Jay A. Carfagnini, Esq., and Brian F. Emprey, Esq., at Goodmans LLP in Toronto, serve as the Applicants' counsel. Masonite Corporation, based in Tampa, Florida, and several U.S. affiliates filed for Chapter 11 bankruptcy protection on the same day (Bankr. D. Del. Case No. 09-10844). Judge Peter J. Walsh handles the cases. Richard M. Cieri, Esq., Jonathan S. Henes, Esq., and Christopher J. Marcus, Esq., at Kirkland & Ellis LLP; and Daniel J. DeFranceschi, Esq., Jason M. Madron, Esq., and Katisha D. Fortune, Esq., at Richards, Layton & Finger, P.A., serve as bankruptcy counsel. The Debtors' Investment Banker and Financial Advisor is Perella Wenberg Partners LLP; the Debtors' Restructuring Advisors is Alvarez & Marsal North American LLC; and the Debtors' Claims Agent is Kurtzman Carson Consultants LLC. As of January 31, 2009, the Debtors had total assets of $1,527,495,443 and total debts of $2,641,590,842. The Debtors filed with the Bankruptcy Court a pre-negotiated reorganization plan together with their petitions. The Plan provides that Masonite's existing senior secured obligations will be converted on a pro rata basis subject to the election of each existing holder of Senior Secured Obligations into: (i) a new first-priority senior secured term loan; (ii) a new second- priority senior secured PIK loan; and (iii) 97.5% of the common equity of the reorganized Masonite. Holders of Masonite's existing senior subordinated notes will be allocated 2.5% of the common equity in the reorganized Masonite plus warrants for 17.5% of the common stock of the reorganized Company, subject to dilution under certain conditions. Holders of Class 5 General Unsecured Claims under the Plan will be unimpaired and is expected to recover 100% under the Plan. Bankruptcy Creditors' Service, Inc., publishes Masonite Bankruptcy News. The newsletter tracks the CCAA proceedings in Canada and parallel chapter 11 proceedings in Delaware undertaken by company and its various affiliates. http://bankrupt.com/newsstand/or 215/945-7000) POWERMATE CORP: Jan. 31 Balance Sheet Upside-Down by $67.6 Million ------------------------------------------------------------------ Powermate Corporation posted a net loss of $2,091,253 on zero revenues for the month ended January 31, 2009. At January 31, 2009, Powermate Corporation had $17,386,967 in total assets, $85,021,531 in total liabilities, and $67,634,564 in stockholders' deficit. A full-text copy of Powermate Corporation's January 2009 monthly operating report is available at: http://bankrupt.com/misc/PowermateCorp.January2009MOR.pdf About Powermate Corp. Headquartered in Aurora, Illinois, Powermate Corp. -- http://www.powermate.com/-- manufactures portable and home standby generators, air compressors, and pressure washers. Powermate Holding Corp. is the parent of Powermate Corp. In turn, Powermate Corp. owns 100% of Powermate International Inc. Powermate Corp. operates the company's assets located in the United States. Powermate International has sales employees in Hong Kong and the Philippines. Powermate Holding has no employees or operations. Sun Capital Partners bought 95% of Powermate in 2004. Powermate Holding has two other non-debtor subsidiaries, Powermate Canadian Corp., located in Canada and Powermate S. de R.L. de C.V., which is domiciled in Mexico. The three companies filed for Chapter 11 protection on March 17, 2008 (Bankr. D. Del. Lead Case No.08-10498). Neil Herman, Esq., at Morgan, Lewis & Bokius, represents the Debtors as counsel. Kenneth Enos, Esq., and Michael Nestor, Esq., at Young, Conaway, Stargatt & Taylor, represent the Debtors as local counsel. Monika J. Machen, Esq., at Sonnenschein Nath Rosenthal LLP, represents the Official Committee of Unsecured Creditors as counsel. Charlene D. Davis, Esq., Eric M. Sutty, Esq., Daniel A. O'Brien, Esq., at Bayard P.A., represent the Creditors Committee as local counsel. In schedules filed with the Court, the Debtors listed total assets of and debts of over $69 million and $144 million, respectively. POWERMATE CORP: Holding Posts $2,091,253 Net Loss in January 2009 ----------------------------------------------------------------- Powermate Holding Corp. posted a net loss of $2,091,253 on zero revenues for the month ended January 31, 2009. At January 31, 2009, Powermate Holding had $14,581,100 in total assets, $87,257,347 in total liabilities, and $72,676,247 in stockholders' deficit. A full-text copy of Powermate Holding Corp.'s January 2009 monthly operating report is available at: http://bankrupt.com/misc/PowermateHoldingJanuary2009MOR.pdf About Powermate Corp. Headquartered in Aurora, Illinois, Powermate Corp. -- http://www.powermate.com/-- manufactures portable and home standby generators, air compressors, and pressure washers. Powermate Holding Corp. is the parent of Powermate Corp. In turn, Powermate Corp. owns 100% of Powermate International Inc. Powermate Corp. operates the company's assets located in the United States. Powermate International has sales employees in Hong Kong and the Philippines. Powermate Holding has no employees or operations. Sun Capital Partners bought 95% of Powermate in 2004. Powermate Holding has two other non-debtor subsidiaries, Powermate Canadian Corp., located in Canada and Powermate S. de R.L. de C.V., which is domiciled in Mexico. The three companies filed for Chapter 11 protection on March 17, 2008 (Bankr. D. Del. Lead Case No.08-10498). Neil Herman, Esq., at Morgan, Lewis & Bokius, represents the Debtors as counsel. Kenneth Enos, Esq., and Michael Nestor, Esq., at Young, Conaway, Stargatt & Taylor, represent the Debtors as local counsel. Monika J. Machen, Esq., at Sonnenschein Nath Rosenthal LLP, represents the Official Committee of Unsecured Creditors as counsel. Charlene D. Davis, Esq., Eric M. Sutty, Esq., Daniel A. O'Brien, Esq., at Bayard P.A., represent the Creditors Committee as local counsel. In schedules filed with the Court, the Debtors listed total assets of and debts of over $69 million and $144 million, respectively. POWERMATE CORP: International Files January Operating Report ------------------------------------------------------------ Powermate International Corp. had zero income on zero revenue for the month ended January 31, 2009. At January 31, 2009, Powermate International had $607,544 in total assets, $110,420 in total liabilities, and $497,124 in net stockholders' equity. A full-text copy of Powermate International's January 2009 monthly operating report is available at: http://bankrupt.com/misc/PowerInternationalJanuary2009MOR.pdf About Powermate Corp. Headquartered in Aurora, Illinois, Powermate Corp. -- http://www.powermate.com/-- manufactures portable and home standby generators, air compressors, and pressure washers. Powermate Holding Corp. is the parent of Powermate Corp. In turn, Powermate Corp. owns 100% of Powermate International Inc. Powermate Corp. operates the company's assets located in the United States. Powermate International has sales employees in Hong Kong and the Philippines. Powermate Holding has no employees or operations. Sun Capital Partners bought 95% of Powermate in 2004. Powermate Holding has two other non-debtor subsidiaries, Powermate Canadian Corp., located in Canada and Powermate S. de R.L. de C.V., which is domiciled in Mexico. The three companies filed for Chapter 11 protection on March 17, 2008 (Bankr. D. Del. Lead Case No.08-10498). Neil Herman, Esq., at Morgan, Lewis & Bokius, represents the Debtors as counsel. Kenneth Enos, Esq., and Michael Nestor, Esq., at Young, Conaway, Stargatt & Taylor, represent the Debtors as local counsel. Monika J. Machen, Esq., at Sonnenschein Nath Rosenthal LLP, represents the Official Committee of Unsecured Creditors as counsel. Charlene D. Davis, Esq., Eric M. Sutty, Esq., Daniel A. O'Brien, Esq., at Bayard P.A., represent the Creditors Committee as local counsel. In schedules filed with the Court, the Debtors listed total assets of and debts of over $69 million and $144 million, respectively. REFCO INC: REFCO LLC's Monthly Operating Report for January 2009 ---------------------------------------------------------------- Albert Togut, the Chapter 7 Trustee overseeing the liquidation of Refco, LLC's estate, filed with the U.S. Bankruptcy Court for the Southern District of New York a monthly statement of cash receipts and disbursements for the period from January 1 to 31, 2009. The Chapter 7 Trustee reports that Refco LLC's beginning balance in its Money Market account with JPMorgan Chase Bank, N.A., totaled $80,257,000 as of January 1. During the Reporting Period, Refco LLC received $24,000 in interest income. It reported transfers, aggregating $10,000, on account of cleared checks as of December 2008. The Debtor held $79,642,000 at the end of the period. Refco, LLC Schedule of Cash Receipts and Disbursements Through JPMorgan Money Market and Checking Accounts January 1 through January 31, 2009 Beginning Balance, January 1, 2009 $80,257,000 RECEIPTS Interest Income 24,000 Sale of Assets 0 Marshalling of Excess Capital 0 Man Financial - Excess Capital return 0 Membership and Clearing Deposits 0 Other Receivables 0 ------------- TOTAL RECEIPTS 24,000 TRANSFERS Money Market Account to checking account 0 December 2008 cleared checks (10,000) ------------- TOTAL TRANSFERS (10,000) DISBURSEMENTS Operating expenses & other disbursements 10,000 Executory contract cure payments 0 Pursuant to payment stipulation 0 Purchase price escrow deposit 0 Expected account escrow fund 0 Membership & clearing deposits 0 Payment on account of prepetition claims 152,000 Other disbursements 0 Reorganization Expenses Attorney fees 203,000 Trustee bond premium 0 Other professional fees 264,000 ------------- TOTAL DISBURSEMENTS 629,000 ------------- Ending Balance, January 30, 2009 $79,642,000 ============= 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. 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. Pursuant to the plan, RJM, LLC, was named plan administrator to reorganized Refco, Inc. and its affiliates, and Marc S. Kirschner as plan administrator to Refco Capital Markets, Ltd. (Refco Bankruptcy News; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000) RITZ CAMERA: Files Initial Monthly Operating Report --------------------------------------------------- Ritz Camera Centers Inc. filed an initial monthly operating report with the U.S. Bankruptcy Court on March 9, 2009. A full-text copy of Ritz Camera's initial monthly operating report is available at: http://bankrupt.com/misc/RitzCameraInitialMOR.pdf About Ritz Camera Centers Inc Headquartered in Beltsville, Maryland, Ritz Camera Centers Inc. -- http://www.ritzcamera.com-- sells digital cameras and accessories, and electronic products. The company filed for Chapter 11 protection on February 22, 2009 (Bankr. D. Del. Case No. 09-10617). Karen M. McKinley, Esq., and Norman L. Pernick, Esq., at Cole Scholtz Meisel Forman Leonard, P.A., represent the Debtor in its restructuring efforts. The Debtor proposed Thomas & Libowitz PA as corporate counsel; FTI Consulting Inc. t/a FTI Palladium Partners as financial advisor; and Kurtzman Carson Consultants LLC as claims agent. When the Debtor filed for protection from its creditors, it listed assets and debts between $100 million and $500 million. SHARPER IMAGE: Files Monthly Operating Report for January 2009 -------------------------------------------------------------- Sharper Image Corp. Balance Sheet As of January 31, 2009 ASSETS Current assets: Unrestricted Cash and Equivalents $5,221,125 Restricted Cash and Equivalents - Trade Accounts Receivable, net 240,315 Other Accounts Receivable (Credit cards etc.) 126,539 Other Accounts Receivable (Subject to set-off against AP and accrued liabilities) 2,847,267 Notes Receivable - Inventories - Prepaid Expenses 1,220,007 Professional Retainers - Deferred Income Taxes/Prepaid Income Taxes 17,013,260 Debit balances in AP 1,018,659 ------------ Total current assets 27,687,172 Property and Equipment: Real Property and Improvements - Machinery and Equipment - Furniture, Fixtures and Office Equipment - Leasehold Improvements - Vehicles - Work In Progress - Less: Accumulated Depreciation - ------------- Total Property and Equipment - Other assets: Loans to Insiders - Other Assets 5,716,367 ------------- Total Assets $33,403,539 ============= LIABILITIES AND OWNER'S EQUITY Liabilities not subject to Compromise (Post) Accounts Payable ($7,618,181) Taxes Payable (823,788) Wages Payable - Notes Payable - Rent/Leases - Building/Equipment - Secured Debt - Line of credit - Other Reserves - Liquidation (GOB Sales) Clearing Account - Amounts Due to Insiders - Accrual for Unpaid Professional Fees (544,000) Licensing advances received postpetition (975,000) Other Postpetition Liabilities - ------------ Total Postpetition Liabilities (9,960,969) Liabilities not subject to Compromise (Pre) Secured Debt - Line of credit - Secured Debt - Other - Priority Debt - Unsecured Debt (Accounts Payable) (47,461,185) Expense Accruals and Other Liabilities (2,765,935) Short Term Liabilities (3,554,215) Deferred (GAAP) rent/landlord allowances etc (526,174) Deferred Tax (Liability)/Asset 91,920,506 Deferred Revenue (Gift cards and Royalties) (33,789,666) Other Reserves and allowances (2,870,595) ------------ Total Prepetition Liabilities 952,735 ------------ Total Liabilities (9,008,234) Owner's Equity Capital Stock (152,132) Additional Paid-In Capital (116,716,579) Deferred Stock Compensation and Stock Repurchase 180,069 Retained Earnings - Prepetition 63,247,322 Retained Earnings - Postpetition 29,046,015 ------------ Net Owner's Equity (24,395,305) ------------ Total Liabilities and Owner's Equity ($33,403,539) ============ Sharper Image Corp. Statement of Operations For Month Ended January 31, 2009 Revenues: Gross Revenues $54,485,184 Less: Returns and Allowances - ------------- Net Revenue 54,485,184 Cost of Goods Sold: Cost of Goods Sold 72,667,942 ------------- Gross Profit (18,182,758) Operating Expenses: Advertising - Auto and Truck Expense - Bad Debts 3,638 Contributions - Employee Benefit Programs - Insider Compensations - Insurance 94,152 Management Fees/Bonuses - Office Expense - Pension & Profit-Sharing Plans - Repairs and Maintenance 53,182 Rent and Lease Expense 23,382 Salaries/Commissions/Fees 31,667 Supplies - Taxes- Payroll 4,708 Taxes- Real Estate - Taxes- Other 55,299 Travel and Entertainment (5,008) Utilities 17,911 Other 47,160 ------------- Total Operating Expense Before Depr. 326,090 Depreciation/Depletion/Amortization - ------------- Net Profit (Loss) Before Other Income & Expenses (18,508,848) Other Income and Expenses: Licensing Income - Interest Income 766 ------------ Net Profit (Loss) (18,508,082) before reorganization items Reorganization Items: Professional Fees 336,667 US Trustee Quarterly Fees 9,250 Interest Earned on Accm Case - Loss(Gain) from sale of assets - Other Reorganization Expense (29,401,224) ------------- Total Reorganization Expenses (29,055,308) ------------- Net Profit (Loss) Before Income Taxes (Benefit) 10,547,226 Income Taxes (Benefit) 112,779 ------------- Net Profit (Loss) $10,434,447 ============= Sharper Image Corp. Statement of Cash Flows For Month Ended January 31, 2009 Opening Balance $5,569,904 Receipts Cash Sales (from stores) - Credit Card Settlements - Other Settlements - Accounts Receivable 1,034 Sale of Assets - Interest/Dividend Income 473 Tax Refunds Received 14,047 Collections from vendors 200,303 Mail Order/License Deposits, Other Deposits 187,242 ------------- Total Receipts 403,099 Transfers Line of Credit Draw/Pay Down - Transfers from stores to deposit a/c - sweep - Transfers from concentration to refunds - Transfers from concentration to payroll - Other Inter-account transfers - Transfers from Concentration to Disbursement - ------------- Total Transfers - ------------- Total Receipts & Transfers 403,099 Disbursements Liquidator Reimbursements - Net Payroll 19,504 Payroll Taxes 15,395 401k - Employee Benefits 264 Sales, Use & Other Taxes 632 Inventory Purchases - Secured/Rental/Leases - Insurance 1,276 Administrative 11,664 Selling - Bank/Credit Card Fees/Sales audit adjs 5,218 Refund checks issued (net of stop payments) 16 Other - Customs/Duties/Freight - Interest and LC fees - Professional Fees 488,160 US Trustee Quarterly Fees 9,750 Court Costs - ------------- Total Disbursements 551,878 ------------- Net Cash Flow $148,779 ============= About Sharper Image Corp. Headquartered in San Francisco, California, Sharper Image Corp. -- http://www.sharperimage.com/-- is a multi-channel specialty retailer. It operates in three principal selling channels: the Sharper Image specialty stores throughout the U.S., the Sharper Image catalog and the Internet. The company has operations in Australia, Brazil and Mexico. In addition, through its Brand Licensing Division, it is also licensing the Sharper Image brand to select third parties to allow them to sell Sharper Image branded products in other channels of distribution. The company filed for Chapter 11 protection on Feb. 19, 2008 (Bankr. D.D., Case No. 08-10322). Judge Kevin Gross presides over the case. Harvey R. Miller, Esq., Lori R. Fife, Esq., and Christopher J. Marcus, Esq., at Weil, Gotshal & Manges, LLP, serve as the Debtor's lead counsel. Steven K. Kortanek, Esq., and John H. Strock, Esq., at Womble, Carlyle, Sandridge & Rice, P.L.L.C., serve as the Debtor's local Delaware counsel. An Official Committee of Unsecured Creditors has been appointed in the case. Cooley Godward Kronish LLP is the Committee's lead bankruptcy counsel. Whiteford Taylor Preston LLC is the Committee's Delaware counsel. When the Debtor filed for bankruptcy, it listed total assets of $251,500,000 and total debts of $199,000,000. As of June 30, 2008, the Debtor listed $52,962,174 in total assets and $39,302,455 in total debts. The Court extended the exclusive period during which the Debtor may file a Plan through and including Sept. 16, 2008. Sharper Image sought and obtained the Court's approval to change its name to "TSIC, Inc." in relation to an an Asset Purchase Agreement by the Debtor with Gordon Brothers Retail Partners, LLC, GB Brands, LLC, Hilco Merchant Resources, LLC, and Hilco Consumer Capital, LLC. (Sharper Image Bankruptcy News, Issue No. 28; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000) SPANSION INC: Files Initial Monthly Operating Report ---------------------------------------------------- Spansion Inc., filed with the Court an initial monthly operating report on March 16, 2009. The Initial Report incorporated a 13- week cash flow projection for the period from March 8 through May 31, 2009. The Debtors estimate that for the period ending May 31, 2009: -- cash inflow is $383,400,000; -- cash outflow is $381,400,000; -- weekly net cash inflow is $2,000,000; and -- ending cash balance is $48,600,000. The Debtors also disclose the retainers paid to professionals prior to the Petition Date: Approximate Professional Balance ------------ ----------- Latham & Watkins LLP $1,297,772 McKinsey & Company, Inc. 1,050,000 KPMG LLP 780,000 Baker & McKenzie LLP 213,876 Brincko Associates Inc. 124,637 Duane Morris LLP 111,529 Gordian Group LLC 29,464 Sitrick and Company Inc. 7,217 Epiq Bankruptcy Solutions, LLC 0 Brown Rudnick LLP 0 Wilson Sonsini Goodrich & Rosati, PC 0 Houlihan Lokey unknown Bialson, Bergen & Schwab unknown Kirkpatrick & Lockhart LLP unknown Barclays Capital unknown A full-text copy of the Initial Monthly Operating Report is available for free at: http://bankrupt.com/misc/Spansion_InitialMOR.pdf About Spansion Spansion Inc. (NASDAQ: SPSN) -- http://www.spansion.com-- is a Flash memory solutions provider, dedicated to enabling, storing and protecting digital content in wireless, automotive, networking and consumer electronics applications. Spansion, previously a joint venture of AMD and Fujitsu, is the largest company in the world dedicated exclusively to designing, developing, manufacturing, marketing, selling and licensing Flash memory solutions. Spansion Inc. and four affiliates filed voluntary petitions for Chapter 11 on March 1, 2009 (Bankr. D. Del. Lead Case No. 09-10690). Michael S. Lurey, Esq., Gregory O. Lunt, Esq., and Kimberly A. Posin, Esq., at Latham & Watkins LLP, have been tapped as bankruptcy counsel. Michael R. Lastowski, Esq., at Duane Morris LLP, is the Delaware counsel. Epiq Bankruptcy Solutions LLC, is the claims agent. As of Sept. 30, 2008, Spansion disclosed total assets of $3,840,000,000, and total debts of $2,398,000,000. (Spansion Bankruptcy News, Issue No. 4; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000) TRIBUNE COMPANY: Files Operating Report for Month Ended February 1 ------------------------------------------------------------------ Tribune Company, et al. Condensed Combined Balance Sheet As of February 1, 2009 ASSETS Current Assets: Cash and cash equivalents $789,954,000 Accounts receivable, net 81,774,000 Inventories 36,266,000 Broadcast rights 223,920,000 Prepaid expenses and other 85,789,000 --------------- Total current assets 1,217,703,000 Property, plant and equipment, net 1,361,517,000 Other Assets: Broadcast rights 183,878,000 Goodwill & other tangible assets 3,164,764,000 Prepaid pension costs 0 Investments in non-debtor units 1,125,528,000 Other investments 16,152,000 Intercompany receivables from non-debtors 4,905,813,000 Other 102,438,000 --------------- Total Assets $12,077,793,000 =============== LIABILITIES & SHAREHOLDERS' EQUITY Current Liabilities: Accounts payable, accrued expenses and other $244,414,000 --------------- Total current liabilities 244,414,000 Pension obligations 205,499,000 Other obligations 269,804,000 --------------- Total Liabilities 719,717,000 Liabilities Subject to Compromise: Intercompany payables to non-debtors 4,565,344,000 Obligations to third parties 13,979,073,000 --------------- Total Liabilities Subject to Compromise 18,544,417,000 Shareholders' Equity (Deficit) (7,186,341,000) --------------- Total Liabilities & Shareholders' Equity $12,077,793,000 =============== Tribune Company, et al. Condensed Combined Statement of Operations For the Period Dec. 29, 2008 through Feb. 1, 2009 Total Revenue $287,234,000 Operating Expenses: Cost of sales 174,053,000 Selling, general and administrative 99,697,000 Depreciation 16,440,000 Amortization of intangible assets 1,769,000 -------------- Total operating assets 291,959,000 Operating Loss (4,725,000) Net loss on equity investments (506,000) Interest income, net 23,499,000 Management fee (1,174,000) Non-operating loss, net (3,355,000) -------------- Loss before income taxes and reorganization costs 13,739,000 Reorganization costs (8,075,000) -------------- Income (Loss) before income taxes 5,664,000 Income taxes 247,000 -------------- Net loss $5,911,000 ============== Tribune Company, et al. Combined Schedule of Operating Cash Flow For the Period Dec. 29, 2008 through Feb. 1, 2009 Beginning Cash Balance $554,632,000 Cash Receipts: Operating receipts 348,926,000 Other 0 -------------- Total Cash Receipts 348,926,000 Cash Disbursements Compensation and benefits 108,607,000 General disbursements 97,478,000 Reorganization, interest & fees 0 -------------- Total Disbursements 206,085,000 Debtors' Net Cash Flow 142,841,000 From/(To) Non-Debtors 61,305,000 -------------- Net Cash Flow 204,146,000 Other (5,357,000) -------------- Ending Available Cash Balance $753,421,000 ============== About Tribune Co. Headquartered in Chicago, Illinois, Tribune Company -- http://www.tribune.com/-- is a media company, operating businesses in publishing, interactive and broadcasting, including ten daily newspapers and commuter tabloids, 23 television stations, WGN America, WGN-AM and the Chicago Cubs baseball team. The company and 110 of its affiliates filed for Chapter 11 protection on December 8, 2008 (Bankr. D. Del. Lead Case No. 08-13141). The Debtors proposed Sidley Austion LLP as their counsel; Cole, Schotz, Meisel, Forman & Leonard, PA, as Delaware counsel; Lazard Ltd. and Alvarez & Marsal North Americal LLC as financial advisors; and Epiq Bankruptcy Solutions LLC as claims agent. As of Dec. 8, 2008, the Debtors have $7,604,195,000 in total assets and $12,972,541,148 in total debts. Bankruptcy Creditors' Service, Inc., publishes Tribune Bankruptcy News. The newsletter tracks the chapter 11 proceeding undertaken by Tribune Company and its various affiliates. (http://bankrupt.com/newsstand/or 215/945-7000) WCI COMMUNITIES: Posts Net Loss of $18.8 Million in December 2008 ----------------------------------------------------------------- WCI Communities, Inc., and certain of its subsidiaries filed with the U.S. Bankruptcy Court for the Southern District of New York on February 11, 2009, their monthly operating report for the month ended December 31, 2008. WCI Communities, Inc., et al., reported a consolidated net loss of $18.8 million on revenue of $36.0 million for the month ended December 31, 2008. At December 31, 2008, the Debtors had total assets of $1.59 billion, total liabilities of $1.96 billion, minority interests of $26.6 million, and stockholders' deficit of $403.4 million. The Debtors' consolidated schedule of receipts and disbursements for the month ended December 31, 2008, discloses: Total Cash Receipts $64,199,769 Total Cash Disbursement $46,037,481 Net Receipts $18,162,288 A full-text copy of the Debtors' monthly operating report for the month ended December 31, 2008, is available at: http://bankrupt.com/misc/WCICommunities.December2008MOR.pdf About WCI Communities Headquartered in Bonita Springs, Florida, WCI Communities, Inc. -- http://www.wcicommunities.com/-- is a fully integrated homebuilding and real estate services company. It has operations in Florida, New York, New Jersey, Connecticut, Massachusetts, Virginia and Maryland. The company directly employs roughly 1,800 people, as well as roughly 1,800 sales representatives as independent contract employees. The company and 126 of its affiliates filed for Chapter 11 protection on Aug. 4, 2008 (Bankr. D. Del. Lead Case No. 08-11643 through 08-11770). Thomas E. Lauria, Esq., Frank L. Eaton, Esq., Linda M. Leali, Esq., at White & Case LLP, in Miami, Florida. Eric Michael Sutty, Esq., and Jeffrey M. Schlerf, Esq., at Bayard, P.A, are the Debtors' local bankruptcy counsel. Lazard Freres & Co. represents the Debtors as financial advisors. The Debtors selected Epiq Bankruptcy Solutions LLC as their claims & notice agent. The U.S. Trustee for Region 3 appointed five creditors to serve on an Official Committee of Unsecured Creditors. Daniel H. Golden, Esq., Lisa Beckerman, Esq., and Philip C. Dublin, Esq., at Akin Gump Strauss Hauer & Feld LLP, and Laura Davis Jones, Esq., Michael R. Seidl, Esq., and Timothy P. Cairns, Esq., at Pachulski Stang Ziehl & Jones LLP, represent the Committee in these cases. When the Debtors filed for protection from their creditors, they listed total assets of $2,178,179,000 and total debts of $1,915,034,000. WCI COMMUNITIES: Posts $18.8 Million Net Loss in January 2009 ------------------------------------------------------------- WCI Communities, Inc., and certain of its subsidiaries filed with the U.S. Bankruptcy Court for the Southern District of New York on March 12, 2009, their monthly operating report for the month ended January 31, 2009. WCI Communities, Inc., et al., reported a consolidated net loss of $18.8 million on revenue of $27.9 million for the month ended January 31, 2009. At January 31, 2009, the Debtors had total assets of $1.57 billion, total liabilities of $1.97 billion, minority interests of $26.7 million, and stockholders' deficit of $423.4 million. The Debtors' consolidated schedule of receipts and disbursements for the month ended January 31, 2009, discloses: Total Cash Receipts $33,496,672 Total Cash Disbursement $39,678,342 Net Disbursements $6,181,670 A full-text copy of the Debtors' monthly operating report for the month ended January 31, 2009, is available at: http://bankrupt.com/misc/WCICommunities.January2009MOR.pdf About WCI Communities Headquartered in Bonita Springs, Florida, WCI Communities, Inc. -- http://www.wcicommunities.com/-- is a fully integrated homebuilding and real estate services company. It has operations in Florida, New York, New Jersey, Connecticut, Massachusetts, Virginia and Maryland. The company directly employs roughly 1,800 people, as well as roughly 1,800 sales representatives as independent contract employees. The company and 126 of its affiliates filed for Chapter 11 protection on Aug. 4, 2008 (Bankr. D. Del. Lead Case No. 08-11643 through 08-11770). Thomas E. Lauria, Esq., Frank L. Eaton, Esq., Linda M. Leali, Esq., at White & Case LLP, in Miami, Florida. Eric Michael Sutty, Esq., and Jeffrey M. Schlerf, Esq., at Bayard, P.A, are the Debtors' local bankruptcy counsel. Lazard Freres & Co. represents the Debtors as financial advisors. The Debtors selected Epiq Bankruptcy Solutions LLC as their claims & notice agent. The U.S. Trustee for Region 3 appointed five creditors to serve on an Official Committee of Unsecured Creditors. Daniel H. Golden, Esq., Lisa Beckerman, Esq., and Philip C. Dublin, Esq., at Akin Gump Strauss Hauer & Feld LLP, and Laura Davis Jones, Esq., Michael R. Seidl, Esq., and Timothy P. Cairns, Esq., at Pachulski Stang Ziehl & Jones LLP, represent the Committee in these cases. When the Debtors filed for protection from their creditors, they listed total assets of $2,178,179,000 and total debts of $1,915,034,000. ********* 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. The Sunday TCR delivers securitization rating news from the week then-ending. 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. Ronald C. Sy, Joel Anthony G. Lopez, Cecil R. Villacampa, Sheryl Joy P. Olano, Carlo Fernandez, Christopher G. Patalinghug, and Peter A. Chapman, Editors. Copyright 2009. All rights reserved. ISSN: 1520-9474. This material is copyrighted and any commercial use, resale or publication in any form (including e-mail forwarding, electronic re-mailing and photocopying) is strictly prohibited without prior written permission of the publishers. Information contained herein is obtained from sources believed to be reliable, but is not guaranteed. The TCR subscription rate is $775 for 6 months delivered via e- mail. Additional e-mail subscriptions for members of the same firm for the term of the initial subscription or balance thereof are $25 each. For subscription information, contact Christopher Beard at 240/629-3300. *** End of Transmission ***