TCR_Public/090530.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, May 30, 2009, Vol. 13, No. 148

                            Headlines



ACCENTIA BIOPHARMA: Files Monthly Operating Report for April 2009
ACCENTIA BIOPHARMA: Biovest Int'l Files April Operating Report
ALERIS INT'L: Files Monthly Operating Report for March 2009
ASARCO LLC: Earns $6.7 Million in April 2009
ASYST TECHNOLOGIES: Posts $488,874 Net Loss from April 20 - 30

BALLY TOTAL: Bally II's Monthly Operating Report for April 2009
BI-LO LLC: Posts $2.5 Million Net Loss from March 29 to April 25
CHEMTURA CORP: Files Initial Monthly Operating Report
CRUSADER ENERGY: Posts $3.9 Million Net Loss in April 2009
EZ LUBE: Posts $6.8 Million Net Loss in March 2009

FREMONT GENERAL: Posts $873,920 Net Loss in April 2009
FRONTIER AIRLINES: Files Monthly Operating Report for April 2009
HAWAIIAN TELCOM: Files Monthly Operating Report for March 2009
KUSHNER LOCKE: Posts $85,827 Net Loss in February 2009
LANDAMERICA FINANCIAL: Earns $11.1 Million in March 2009

LTV CORP: Files April 2009 Monthly Operating Report
MILACRON INC: Posts $10,411,000 Net Loss in April 2009
MUZAK HOLDINGS: Posts $3.1 Million Net Loss in April 2009
NORTEL NETWORKS: Posts $3.99 Billion Net Loss in March 2009
RITZ CAMERA: Posts $9.8 Million Net Loss in April 2009

SEMGROUP: Debtors' Monthly Operating Report for March 2009
SHARPER IMAGE: Posts $601,974 Net Loss in April 2009
SPANSION INC: Files Monthly Operating Report for March 2009
SPANSION INC: Spansion LLC'S Monthly Operating Report for March
SPECTRUM BRANDS: Posts $14.3 Million Net Loss in April 2009

TRONOX INC: Files Monthly Operating Report for April 2009
TVI CORP: Posts $1,104,104 Net Loss in April 2009
YOUNG BROADCASTING: Earns $6.8 Million in April 2009



                            *********

ACCENTIA BIOPHARMA: Files Monthly Operating Report for April 2009
-----------------------------------------------------------------
On May 20, 2009, Accentia Biopharmaceuticals, Inc., and certain
of its affiliates filed their unaudited combined monthly operating
report for the period April 1, 2009, through April 30, 2009, with
the United States Bankruptcy Court for the Middle District of
Florida, Tampa Division.

Their schedule of receipts and disbursements for April 2009,
showed:

     Funds at April 1, 2009                   $4,866
     Total Receipts                         $251,590
     Total Funds Available for Operations   $256,456
     Total Disbursements                    $282,209
     Funds at April 30, 2009                ($25,753)

A full-text copy of the Debtors' monthly operating report for the
month ended April 30, 2009, is available at:

               http://researcharchives.com/t/s?3d60

Headquartered in Tampa, Florida, Accentia BioPharmaceuticals Inc.
(Nasdaq: ABPI) -- http://www.accentia.net/-- is a vertically
integrated biopharmaceutical company focused on the development
and commercialization of drug candidates that are in late-stage
clinical development and typically are based on active
pharmaceutical ingredients that have been previously approved by
the FDA for other indications.  The Company's lead product
candidate is SinuNase(TM), a novel application and formulation of
a known therapeutic to treat chronic rhinosinusitis.

Additionally, the Company has acquired the majority ownership
interest in Biovest International Inc. and a royalty interest in
Biovest's lead drug candidate, BiovaxID(TM) and any other biologic
products developed by Biovest.  The Company also has a specialty
pharmaceutical business, which markets products focused on
respiratory disease and an analytical consulting business that
serves customers in the biopharmaceutical industry.

Accentia Biopharmaceuticals and nine affiliates filed for
Chapter 11 protection on November 10, 2008 (Bankr. M.D. Florida,
Lead Case No. 08-17795).  Charles A. Postler, Esq., and Elena P.
Ketchum, Esq., at Stichter, Riedel, Blain & Prosser, in Tampa,
Florida; Jonathan B. Sbar, Esq., at Rocke, McLean & Sbar, P.A.,
represent the Debtors as counsel.  Adam H. Friedman, Esq., at
Olshan Grundman Frome Rosenzweig, and Paul J. Battista, Esq., at
Genovese Joblove & Battista PA, represent the Official Committee
of Unsecured Creditors as counsel.

Based in Tampa, Florida, Biovest International Inc. (OTC BB: BVTI)
-- http://www.biovest.com/-- is a pioneer in the development of
advanced individualized immunotherapies for life-threatening
cancers of the blood system.  Biovest is a majority-owned
subsidiary of Accentia Biopharmaceuticals Inc., with its remaining
shares publicly traded.

Biovest International Inc.'s consolidated balance sheet at
June 30, 2008, showed $5.9 million in total assets, $36.8 million
in total liabilities, and $4.6 million in non-controlling
interests in variable interest entities, resulting in a
$35.5 million total stockholders' deficit.


ACCENTIA BIOPHARMA: Biovest Int'l Files April Operating Report
--------------------------------------------------------------
Biovest International Inc. and certain of its debtor-affiliates
filed with the U.S. Bankruptcy Court for the Middle District of
Florida on May 20, 2009, their unaudited combined monthly
operating report for the period April 1, 2009, through April 30,
2009.

Their schedule of receipts and disbursements for April 2009,
showed:

     Funds at April 1, 2009                 $529,497
     Total Receipts                         $200,962
     Total Funds Available for Operations   $730,459
     Total Disbursements                    $489,723
     Funds at April 30, 2009                $240,736

A full-text copy of Biovest International Inc. and its debtor-
affiliates' monthly operating report for April 2009 is
available for free at:

               http://researcharchives.com/t/s?3d61

Headquartered in Tampa, Florida, Accentia BioPharmaceuticals Inc.
(Nasdaq: ABPI) -- http://www.accentia.net/-- is a vertically
integrated biopharmaceutical company focused on the development
and commercialization of drug candidates that are in late-stage
clinical development and typically are based on active
pharmaceutical ingredients that have been previously approved by
the FDA for other indications.  The Company's lead product
candidate is SinuNase(TM), a novel application and formulation of
a known therapeutic to treat chronic rhinosinusitis.

Additionally, the Company has acquired the majority ownership
interest in Biovest International Inc. and a royalty interest in
Biovest's lead drug candidate, BiovaxID(TM) and any other biologic
products developed by Biovest.  The Company also has a specialty
pharmaceutical business, which markets products focused on
respiratory disease and an analytical consulting business that
serves customers in the biopharmaceutical industry.

Accentia Biopharmaceuticals and nine affiliates filed for
Chapter 11 protection on November 10, 2008 (Bankr. M.D. Florida,
Lead Case No. 08-17795).  Charles A. Postler, Esq., and Elena P.
Ketchum, Esq., at Stichter, Riedel, Blain & Prosser, in Tampa,
Florida; Jonathan B. Sbar, Esq., at Rocke, McLean & Sbar, P.A.,
represent the Debtors as counsel.  Adam H. Friedman, Esq., at
Olshan Grundman Frome Rosenzweig, and Paul J. Battista, Esq., at
Genovese Joblove & Battista PA, represent the Official Committee
of Unsecured Creditors as counsel.

Based in Tampa, Florida, Biovest International Inc. (OTC BB: BVTI)
-- http://www.biovest.com/-- is a pioneer in the development of
advanced individualized immunotherapies for life-threatening
cancers of the blood system.  Biovest is a majority-owned
subsidiary of Accentia Biopharmaceuticals Inc., with its remaining
shares publicly traded.

Biovest International Inc.'s consolidated balance sheet at
June 30, 2008, showed $5.9 million in total assets, $36.8 million
in total liabilities, and $4.6 million in non-controlling
interests in variable interest entities, resulting in a
$35.5 million total stockholders' deficit.


ALERIS INT'L: Files Monthly Operating Report for March 2009
-----------------------------------------------------------

                Aleris International, Inc., et al.
                   Consolidated Balance Sheet
                     As of March 31, 2009

                          ASSETS

Current Assets
Cash and cash equivalents                           $38,895,375
Accounts receivable                                 116,679,126
Intercompany receivable                             144,367,209
Net inventories                                     127,066,893
Other current assets                                 67,053,110
                                                    ------------
Total current assets                                494,061,713
Property, plant & equipment, net                     339,420,336
Goodwill & organization costs, net                    79,776,474
Other intangibles, net                                60,142,910
Long-term intercompany receivable                     58,517,236
Other long-term assets                             1,488,572,592
                                                  --------------
Total Assets                                      2,520,491,261
                                                  ==============

              LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities
Accounts payable                                     30,723,913
Accrued & other current liabilities                  56,277,361
Toll liability                                        6,202,250
Accrued interest                                      2,076,513
Interco payable                                      10,714,539
Current maturities of long-term debt                795,519,443
Other current liabilities                             6,834,708
                                                   -------------
Total current liabilities                           908,348,727
Long-term debt                                            (6,095)
Intercompany payable                                 (49,103,887)
Other long-term liabilities                           58,012,204
                                                   -------------
Total long-term liabilities                           8,902,222
                                                   -------------
Liabilities subject to compromise - external       1,712,052,452
Liabilities subject to compromise - internal         490,457,850
                                                   -------------
Total liabilities subject to compromise           2,202,510,302
                                                   -------------
Total Liabilities                                  3,119,761,251

Additional paid-in capital                           856,552,661
Retained earnings (deficit)                       (1,408,223,024)
Other comprehensive income (loss)                    (47,599,627)
Other stockholders' equity                                     0
                                                  --------------
Total Liabilities and Stockholders' Equity        $2,520,491,261
                                                  ==============

               Aleris International, Inc., et al.
             Consolidated Statement of Operations
            For the Period from March 1 to 31, 2009

Current Assets
Cash and cash equivalents                           $38,895,375

Gross Revenue                                        $83,129,000
Total cost of sales                                   75,804,000
                                                     -----------
Gross profits                                          7,325,000
Selling, general and administrative:
Labor                                                 3,533,000
Professional fees                                     1,033,000
Consulting expense                                      274,000
Depreciation & amortization                          (2,070,000)
Other                                                 3,035,000
                                                     -----------
Total SG & A expense                                   5,805,000

Restructuring & merger-related items                 10,144,000
Impairment of goodwill and other intangibles         19,200,000
(Gains) losses on derivatives                         4,673,000
                                                    ------------
Operating income                                     (32,497,000)
Net interest expense                                  30,477,000
Other income and expense                               9,724,000
Reorganization items                                  52,986,000
                                                    ------------
Income (loss) before income taxes and minority      (125,684,000)
Minority interest expense                                      0
                                                    ------------
Income before taxes                                ($125,684,000)
Income tax expenses                                  ($7,404,000)
                                                   -------------
Net income (loss)                                  ($118,280,000)
                                                   =============

             Aleris International, Inc., et al.
                 Consolidated Schedule of
              Cash Receipts and Disbursements
           For the Period from March 1 to 31, 2009

Receipts
Cash sales                                          $93,176,341
Accounts receivable                                           0
Loan and advances                                             0
Sale of assets                                                0
Other accounts payable                                        0
Tax refund                                                    0
Interest income                                               0
Tranfers (from DIP accts.)                                    0
                                                    ------------
Total Receipts                                        93,176,341

Disbursements
Benefits                                              4,212,172
Payroll                                              11,259,458
Primary                                              20,201,858
Recycling/scrap                                      14,416,716
Hardners                                              2,636,929
Flux                                                  1,350,500
Insurance                                               911,759
MRO                                                   2,770,070
Freight                                               1,807,923
Energy                                                3,427,963
Taxes                                                   316,084
Other accounts payable                                3,875,713
Professional fees                                     1,054,390
Chapter 11 adjustments                                5,392,000
Collateral returns                                            0
Collateral disbursements                                      0
Hedge settlements                                             0
Affiliates                                                    0
Interest & fees                                               0
Extraordinaries                                               0
Other:                                                1,151,779
Transfers (to DIP accts.)                            66,061,025
                                                   -------------
Total Disbursments                                   140,846,339
                                                   -------------
Net cash flow                                       ($47,669,998)
                                                   =============

Sean M. Stack, Aleris International, Inc.'s chief financial
officer, disclosed that actual funds flow for certain Debtors
included in Aleris' centralized cash management function may not
match the presentation in the Schedule of Cash Receipts and
Disbursements since cash receipts and disbursements in the
Schedule represent the application of cash movements based on
specific identification of the Debtor party to the transactions.

                    About Aleris International

Aleris International, Inc., produces and sells aluminum rolled and
extruded products.  Aleris operates primarily through two
reportable business segments: (i) global rolled and extruded
products and (ii) global recycling.  Headquartered in Beachwood,
Ohio, a suburb of Cleveland, the Company operates over 40
production facilities in North America, Europe, South America and
Asia, and employs approximately 8,400 employees.  Aleris operates
27 production facilities in the United States with eight
production facilities that provided rolled and extruded aluminum
products and 19 recycling production plants.

Aleris International, Inc., aka IMCO Recycling Inc., and various
affiliates filed for bankruptcy on February 12, 2009 (Bankr. D.
Del. Case No. 09-10478).  The Hon. Brendan Linehan Shannon
presides over the cases.  Stephen Karotkin, Esq., and Debra A.
Dandeneau, Esq., at Weil, Gotshal & Manges LLP in New York, serve
as lead counsel for the Debtors.  L. Katherine Good, Esq., and
Paul Noble Heath, Esq., at Richards, Layton & Finger, P.A.  In
Wilmington, Delaware, serves as local counsel.  Moelis & Company
LLC, acts as financial advisors; Alvarez & Marsal LLC a as
restructuring advisors, and Kurtzman Carson Consultants LLC as
claims and noticing agent for the Debtors.  As of December 31,
2008, the Debtors had total assets of $4,168,700,000; and total
debts of $3,978,699,000.

Bankruptcy Creditors' Service, Inc., publishes Aleris
International Bankruptcy News.  The newsletter tracks the chapter
11 proceeding undertaken by Aleris International, Inc. and its
various affiliates.  (http://bankrupt.com/newsstand/or 215/945-
7000)


ASARCO LLC: Earns $6.7 Million in April 2009
--------------------------------------------
ASARCO LLC filed with the U.S. Bankruptcy Court for the Southern
District of Texas on May 21, 2009, its monthly operating report
for the month of April 2009.

The Company reported net income of $6.7 million on total revenues
of $90.1 million in April.  Earnings before interest, taxes,
depreciation and amortization for the month were $18.9 million.

Filing to date net loss was $1.59 billion on total revenues of
$5.14 billion.

At April 30, 2009, ASARCO LLC had $2.34 billion in total assets
and $4.20 billion in total liabilities.

A copy of the Debtor's April 2009 monthly operating report is
available at http://bankrupt.com/misc/ASARCO.AprilMOR.pdf

                        About ASARCO LLC

Based in Tucson, Arizona, ASARCO LLC -- http://www.asarco.com/--
is an integrated copper mining, smelting and refining company.
Grupo Mexico S.A. de C.V. is ASARCO's ultimate parent.

ASARCO LLC filed for Chapter 11 protection on August 9, 2005
(Bankr. S.D. Tex. Case No. 05-21207).  James R. Prince, Esq., Jack
L. Kinzie, Esq., and Eric A. Soderlund, Esq., at Baker Botts
L.L.P., and Nathaniel Peter Holzer, Esq., Shelby A. Jordan, Esq.,
and Harlin C. Womble, Esq., at Jordan, Hyden, Womble & Culbreth,
P.C., represent the Debtor in its restructuring efforts.  Lehman
Brothers Inc. provides the ASARCO with financial advisory services
and investment banking services.  Paul M. Singer, Esq., James C.
McCarroll, Esq., and Derek J. Baker, Esq., at Reed Smith LLP give
legal advice to the Official Committee of Unsecured Creditors and
David J. Beckman at FTI Consulting, Inc., gives financial advisory
services to the Committee.

When ASARCO LLC filed for protection from its creditors, it listed
US$600 million in total assets and US$1 billion in total debts.

ASARCO LLC has five affiliates that filed for Chapter 11
protection on April 11, 2005 (Bankr. S.D. Tex. Case Nos.
05-20521 through 05-20525).  They are Lac d'Amiante Du Quebec
Ltee, CAPCO Pipe Company, Inc., Cement Asbestos Products Company,
Lake Asbestos of Quebec, Ltd., and LAQ Canada, Ltd.  Sander L.
Esserman, Esq., at Stutzman, Bromberg, Esserman & Plifka, APC, in
Dallas, Texas, represents the Official Committee of Unsecured
Creditors for the Asbestos Debtors.  Former judge Robert C. Pate
has been appointed as the future claims representative.  Details
about their asbestos-driven Chapter 11 filings have appeared in
the Troubled Company Reporter since April 18, 2005.

Encycle/Texas, Inc. (Bankr. S.D. Tex. Case No. 05-21304), Encycle,
Inc., and ASARCO Consulting, Inc. (Bankr. S.D. Tex. Case No. 05-
21346) also filed for Chapter 11 protection, and ASARCO has asked
that the three subsidiary cases be jointly administered with its
Chapter 11 case.  On October 24, 2005, Encycle/Texas' case was
converted to a Chapter 7 liquidation proceeding.  The Court
appointed Michael Boudloche as Encycle/Texas, Inc.'s Chapter 7
Trustee.  Michael B. Schmidt, Esq., and John Vardeman, Esq., at
Law Offices of Michael B. Schmidt represent the Chapter 7 Trustee.

ASARCO's affiliates, AR Sacaton LLC, Southern Peru Holdings LLC,
and ASARCO Exploration Company Inc., filed for Chapter 11
protection on December 12, 2006.  (Bankr. S.D. Tex. Case No. 06-
20774 to 06-20776).

Six of ASARCO's affiliates, Wyoming Mining & Milling Co., Alta
Mining & Development Co., Tulipan Co., Inc., Blackhawk Mining &
Development Co., Ltd., Peru Mining Exploration & Development Co.,
and Green Hill Cleveland Mining Co. filed for Chapter 11
protection on April 21, 2008.  (Bank. S.D. Tex. Case No. 08-20197
to 08-20202).

ASARCO LLC filed a plan of reorganization on July 31, 2008,
premised on the sale of the Debtors' assets to Sterlite USA for
$2.6 billion.  By October 2008, ASARCO LLC informed the Court that
Sterlite refused to close the proposed sale and thus, the Original
Plan could not be confirmed.  The parties has since renewed their
purchase and sale agreement and ASARCO LLC has obtained Court
approval of a settlement and release contained in the new PSA for
the sale of the ASARCO assets for $1.1 billion in cash and a
$600 million note.

Americas Mining Corporation, an affiliate of Grupo Mexico SAB de
CV, submitted its own plan which allows it to keep its equity
interest in ASARCO LLC by offering full payment to ASARCO's
creditors.  AMC offered provide up to $2.7 billion in cash and a
$440 million guarantee to assure payment of all allowed creditor
claims, including payment of liabilities relating to asbestos and
environmental claims.  AMC's plan is premised on the estimation of
the approximate allowed amount of the claims against ASARCO.

Bankruptcy Creditors' Service, Inc., publishes ASARCO Bankruptcy
News.  The newsletter tracks the Chapter 11 proceeding undertaken
by ASARCO LLC and its various affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


ASYST TECHNOLOGIES: Posts $488,874 Net Loss from April 20 - 30
--------------------------------------------------------------
On May 20, 2009, Asyst Asyst Technologies, Inc. filed a monthly
operating report for the period April 20, 2009, to April 30, 2009,
with the United States Bankruptcy Court for the Northern District
of California.

For the period, the Company reported a net loss of $488,874 on
total sales of $409,381.

At April 30, 2009, the Company had $87.8 million in total assets,
$30.6 million in total liabilities, and $57.2 million in total
equity.

A full-text copy of the Company's monthly operating report for the
period from April 20, 2009, to April 30, 2009, is available for
free at http://researcharchives.com/t/s?3d58

Headquartered in Fremont, California, Asyst Technologies, Inc. --
http://www.asyst.com/-- makes, sells and supports integrated
hardware and software systems primarily for semiconductor and flat
panel display manufacturing industries.

The Company filed for Chapter 11 on April 20, 2009 (Bankr. N.D.
Calif. Case No. 09-43246).  Ali M.M. Mojdehi, Esq., at the Law
Offices of Baker and McKenzie, represents the Debtor in its
restructuring efforts.  As of December 31, 2008, the Debtor had
total assets of $295,782,000 and total debts of $315,364,000.


BALLY TOTAL: Bally II's Monthly Operating Report for April 2009
---------------------------------------------------------------

        Bally Total Fitness Holding Corporation, et al.
              Condensed Combined Balance Sheet
                   As of April 30, 2009

ASSETS

Current assets
  Cash and cash equivalents                         $54,877,000
  Deferred income taxes                              17,801,000
  Prepaid expenses                                   16,073,000
  Other current assets                               20,040,000
                                                ---------------
     Total current assets                           108,790,000

Long-term assets
  Property and equipment, net                       270,300,000
  Member relationship asset, net                    154,057,000
  Other intangible assets, net                      213,731,000
  Trademarks                                         86,376,000
  Goodwill                                          257,460,000
  Other assets                                       40,931,000
                                                ---------------
     Total long-term assets                       1,022,855,000
                                                ---------------
Total assets                                     $1,131,645,000
                                                ===============

LIABILITIES AND STOCKHOLDERS' DEFICIT

Current liabilities not subject to compromise
  Accounts payable                                  $18,992,000
  Income taxes payable                                2,084,000
  Accrued liabilities                                43,601,000
  Current maturities of long-term debt                1,690,000
  Deferred revenues                                 133,684,000
                                                ---------------
     Total current liabilities not subject
        to compromise                               200,052,000

Long-term liabilities not subject to compromise
  Deferred rent liability                            20,118,000
  Deferred income taxes                              49,460,000
  Other liabilities                                  24,329,000
  Deferred revenues                                 374,999,000
  Long-term debt, less current maturities                 2,000

Liabilities subject to compromise                   922,312,000
                                                ---------------
        Total liabilities                         1,591,271,000
                                                ---------------
Stockholders' deficit                              (459,626,000)
                                                ---------------
Total liabilities and stockholders' deficit      $1,131,645,000
                                                ===============

        Bally Total Fitness Holding Corporation, et al.
          Condensed Combined Statement of Operations
                 Month Ended April 30, 2009

Net revenues
  Membership services                               $43,060,000
  Retail products                                     2,275,000
  Miscellaneous                                       1,398,000
                                                ---------------
                                                     46,733,000
Operating costs and expenses:
  Membership services                                41,505,000
  Retail products                                     1,675,000
  Marketing and advertising                           3,638,000
  General and administrative                          4,736,000
  Depreciation and amortization                       6,024,000
                                                ---------------
                                                     57,578,000
                                                ---------------
Operating loss                                      (10,845,000)

Interest expense                                       (447,000)
Other, net                                                1,000
                                                ---------------
                                                       (446,000)
                                                ---------------
Loss reorganization items and income taxes          (11,291,000)
Reorganization items, net                            (2,333,000)
Income tax expense                                      (66,000)
                                                ---------------
Net loss                                           ($13,690,000)
                                                ===============

        Bally Total Fitness Holding Corporation, et al.
               Cash Receipts and Disbursements
                April 1 through April 30, 2009

Cash, beginning of month                            $62,262,282

Receipts
  Cash sales                                         57,411,779
  Accounts receivable - Prepetition                           0
  Accounts receivable - Postpetition                          0
  Loans and advances                                          0
  Sales of assets                                             0
  Others                                                766,730
  Transfers (from DIP accounts)                      18,229,039
                                                ---------------
Total receipts                                       76,407,548

Disbursements
  Net payroll                                        19,887,395
  Payroll taxes                                       7,614,036
  Sales, use, and other taxes                         2,162,676
  Inventory purchases                                 1,500,051
  Secured rental/leases                              13,602,955
  Insurance                                           4,267,673
  Administrative                                      9,313,725
  Selling & Marketing                                 4,460,724
  Others                                              3,709,853
  Owner draw                                                  0
  Transfers (to DIP accounts)                        15,066,784
  Professional fees                                   2,206,468
  U.S. Trustee quarterly fees                                 0
  Court costs                                                 0
                                                ---------------
Total disbursements                                  83,792,339
                                                ---------------
Net cash flow                                        (7,384,791)
                                                ---------------
Cash, end of month                                  $54,877,491
                                                ===============

                     About Bally Total Fitness

Based in Chicago, Illinois, Bally Total Fitness Holding Corp.
(Pink Sheets: BFTH.PK) -- http://www.ballyfitness.com/-- operates
fitness centers in the U.S., with over 375 facilities located in
26 states, Mexico, Canada, Korea, China, and the Caribbean under
the Bally Total Fitness(R), Bally Sports Clubs(R), and Sports
Clubs of Canada (R) brands.

Bally Total and its affiliates filed for Chapter 11 protection
on July 31, 2007 (Bankr. S.D.N.Y. Case No. 07-12396) after
obtaining requisite number of votes in favor of their pre-
packaged Chapter 11 plan.  Joseph Furst, III, Esq., at Latham &
Watkins, L.L.P., represents the Debtors in their restructuring
efforts.  As of June 30, 2007, the Debtors had US$408,546,205 in
total assets and US$1,825,941,54627 in total liabilities.

The Debtors filed their Joint Prepackaged Plan & Disclosure
Statement on July 31, 2007.  The Court confirmed the Plan in
September 2007.  The Plan was declared effective October 1, 2007.

Bally Total Fitness Holding Corp. and its debtor-affiliates and
subsidiaries again filed voluntary petitions under Chapter 11 on
December 3, 2008 (Bankr. S. D. N. Y., Lead Case No. 08-14818).
Their counsel is Kenneth H. Eckstein, Esq., at Kramer Levin
Naftalis & Frankel LLP, in New York.  As of September 30, 2008,
the Company (including non-debtor affiliates) had consolidated
assets totaling approximately $1.376 billion and recorded
consolidated liabilities totaling approximately $1.538 billion.

Bankruptcy Creditors' Service, Inc., publishes Bally Bankruptcy
News.  The newsletter provides gavel-to-gavel coverage of the
Chapter 11 proceedings of Bally Total Fitness Holding Corp. and
its debtor-affiliates (http://bankrupt.com/newsstand/or
215/945-7000)


BI-LO LLC: Posts $2.5 Million Net Loss from March 29 to April 25
----------------------------------------------------------------
Bi-Lo LLC filed its monthly operating report for the period
March 29, 2009, to April 25, 2009, with the U.S. Bankruptcy Court
for the District of South Carolina.

The Company reported a $2.5 million net loss for the four weeks
ended April 25 on revenue of $201.8 million.  Earnings before
interest, taxes, depreciation and amortization was $10.9 million
at the store level.

At April 25, 2009, the Company had $917.4 million in total assets
and $972.4 million in total liabilities.

A copy of the Company's monthly operating report for the 4 weeks
ended April 25, 2009, is available at:

            http://bankrupt.com/misc/BI-LO.AprilMOR.pdf

                         About Bi-Lo LLC

Greenville, South Carolina-based BI-LO LLC -- http://my.bi-lo.com/
-- is a chain of 215 supermarkets based in Greenville, South
Carolina.  Founded in 1964 by Frank Outlaw, the Company and its
affiliates operate supermarkets around South Carolina, North
Carolina, Georgia, and Tennessee and have about 17,000 employees.

Dallas-based Lone Star Funds bought the business in 2005 from
Koninklijke Ahold NV, the Dutch supermarket operator.  Lone Star
also owns Bruno's Supermarkets LLC, a chain of 66 stores
that filed under Chapter 11 in February in Birmingham, Alabama.

BI-LO and its affiliates filed for Chapter 11 bankruptcy
protection on March 23, 2009 (Bankr. D. S.C. Case No. 09-02140).
Betsy Johnson Burn, Esq., Frank B.B. Knowlton, Esq., George Barry
Cauthen, Esq., and Jody A. Bedenbaugh, Esq., at Nelson, Mullins,
Riley and Scarborough assist the Companies in their restructuring
efforts.  The Companies listed US$100 million to US$500 million in
assets and US$100 million to US$500 million in debts.


CHEMTURA CORP: Files Initial Monthly Operating Report
-----------------------------------------------------
On May 15, 2009, Chemtura Corporation filed with the U.S.
Bankruptcy Court with the Southern District of New York its
initial monthly operating report for the periods March 19, 2009,
through March 31, 2009, and April 1, 2009, through April 30, 2009.

For the period March 1, 2009, to March 31, 2009, Chemtura
Corporation, et al., reported a net loss of $58.0 million on net
sales of $140.0 million.  For the period April 1, 2009, to
April 30, 2009, net loss was $14.0 million on net sales of
$142.0 million.

As of April 30, 2009, the Debtors had total assets of
$4.04 billion, total liabilities of $3.68 billion, and total
stockholders' equity of $357.0 million.

A full-text copy of the Debtors' initial monthly operating report
is available at http://researcharchives.com/t/s?3d62

                        About Chemtura Corp

Based in Middlebury, Connecticut, Chemtura Corporation (CEM) --
http://www.chemtura.com/-- with 2008 sales of $3.5 billion, is a
global manufacturer and marketer of specialty chemicals, crop
protection products, and pool, spa and home care products.

Chemtura Corporation and 26 of its U.S. affiliates filed voluntary
petitions for relief under Chapter 11 on March 18, 2009 (Bankr.
S.D. N.Y. Case No. 09-11233).  M. Natasha Labovitz, Esq., at
Kirkland & Ellis LLP, in New York, serves as bankruptcy counsel.
Wolfblock LLP serves as the Debtors' special counsel.  The
Debtors' auditors and accountant are KPMG LLP; their investment
bankers are Lazard Freres & Co.; their strategic communications
advisors are Joele Frank, Wilkinson Brimmer Katcher; their
business advisors are Alvarez & Marsal LLC and Ray Dombrowski
serves as their chief restructuring officer; and their claims and
noticing agent is Kurtzman Carson Consultants LLC.

As of December 31, 2008, the Debtors had total assets of
$3.06 billion and total debts of $1.02 billion.

Bankruptcy Creditors' Service, Inc., publishes Chemtura Bankruptcy
News.  The newsletter tracks the Chapter 11 proceedings undertaken
by Chemtura Corp. and its affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


CRUSADER ENERGY: Posts $3.9 Million Net Loss in April 2009
----------------------------------------------------------
Bloomberg's Bill Rochele reports that Crusader Energy Group Inc.
Crusader Energy Group Inc. posted a $3.9 million net loss in April
on revenue of $3.4 million. The loss included more
than $5 million in interest expense, depreciation and depletion.

Based in Oklahoma City, Oklahoma, Crusader Energy Group Inc. --
http://www.ir.crusaderenergy.com/-- explores, develops and
acquires oil and gas properties, primarily in the Anadarko Basin,
Williston Basin, Permian Basin, and Fort Worth Basin in the United
States.  Crusader Energy and its affiliates filed for Chapter 11
protection on March 30, 2009 (Bankr. N.D. Tex. Lead Case No. 09-
31797).  The Debtors' financial condition as of September 30,
2008, showed total assets of $749,978,331 and total debts of
$325,839,980.  Beth Lloyd, Esq., Richard H. London, Esq., and
William Louis Wallander, Esq., at Vinson & Elkins, L.L.P.,
represent the Debtors as counsel.  Holland N. Oneil, Esq., Michael
S. Haynes, Esq., and Richard McCoy Roberson, Esq., at Gardere,
Wynne & Sewell, represent the Official Committee of Unsecured
Creditors as counsel.


EZ LUBE: Posts $6.8 Million Net Loss in March 2009
--------------------------------------------------
EZ Lube LLC filed with the U.S. Bankruptcy Court for the District
of Delaware on May 16, 2009, a monthly operating report for the
month of March 2009.

The Company reported a net loss of $813,497 on net revenue of
$6.9 million.

Cumulative filing to date net loss was $6.8 million on net revenue
of sales of $25.3 million.  Cumulative filing to date net loss
before reorganization items was $2.6 million.

At March 31, 2009, the Company had $106.1 million in total assets
and $124.6 million in total liabilities.

A copy of the Company's March 2009 monthly operating report is
available at http://bankrupt.com/misc/EZLube.MarchMOR.pdf

                           About EZ Lube

Headquartered in Santa Ana, California, EZ Lube LLC --
http://www.ezlube.com/provides oil change and related services
for automobiles including: oil filter replacement, lubricating
chassis, and gearbox and brake fluid level maintenance.

On December 9, 2008, EZ Lube together with Xpress Lube-Tech, Inc.,
filed for Chapter 11 (Bankr. D. Del., Lead Case No. 08-13256).
The company's attorneys are Curtis A. Hehn, Esq., and Laura Davis
Jones, Esq., at Pachulski Stang Ziehl & Jones LLP.  Broadway
Advisors LLC has been tapped as financial advisor, and
Coffey Management Company as chief restructuring advisor.
In its petition EZ Lube estimated assets and debts of
$100 million to $500 million each.

As reported in the December 10 issue of the Troubled Company
Reporter, EZ Lube along with its affiliate, Xpress Lube-Tech Inc.,
filed for bankruptcy to facilitate a sale transaction with EZ Lube
Acquisition Company LLC, an affiliate of its existing lenders,
funds managed by GSO Capital Partners LP.


FREMONT GENERAL: Posts $873,920 Net Loss in April 2009
------------------------------------------------------
On May 15, 2009, Fremont General Corporation filed its monthly
operating report for the month ended April 30, 2009, with the
United States Trustee for the Central District of California.

Fremont General reported total assets of $487,716,710, total
liabilities of $349,139,099, and total equity of $138,577,611 at
April 30, 2009.

For the month, the Debtors reported a net loss of $873,920 and
generated zero revenues.

A full-text copy of the Debtor's April 2009 monthly operating
report is available for free at:

               http://researcharchives.com/t/s?3d57

                     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 September 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, Theodore
Stolman, Esq., Scott H. Yun, Esq., and Whitman L. Holt, Esq., at
Stutman Treister & Glatt, represent the Debtor as counsel.
Kurtzman Carson Consultants LLC is the Debtor's Noticing
Agent/Claims Processor.  Lee R. Bogdanoff, Esq., Jonathan S.
Shenson, Esq., and Brian M. Metcalf, at Klee, Tuchin, Bogdanoff &
Stern LLP, represent the Official Committee of Unsecured
Creditors as counsel.  The Debtor filed with the Court an amended
schedule of its assets and liabilities on October 30, 2008,
disclosing $330,036,435 in total assets and $326,560,878 in total
debts.


FRONTIER AIRLINES: Files Monthly Operating Report for April 2009
----------------------------------------------------------------
Frontier Airlines Holdings, Inc. (PinkSheets: FRNTQ) reported a
net profit of $2.4 million and its sixth consecutive monthly
operating profit.  The results were filed in the Company's
unaudited Monthly Operating Report for April 2009.

For the month of April 2009, Frontier reported a consolidated
operating profit of $5.0 million compared to an operating loss of
$21.9 million for the same period in 2008, and a total
consolidated net income of $2.4 million compared to a net loss of
$26.9 million for April 2008.  Excluding $1.1 million in expenses
directly associated with bankruptcy, the Company would have
reported net income of $3.4 million, or a net margin of 4%.

    Operational results for the month of April included:

    * a 16.1% year-over-year mainline capacity reduction;

    * mainline unit cost excluding fuel (CASM ex-fuel) of
      6.24 cents, a reduction of 1.4% from the prior year;

    * mainline total unit cost of 8.49 cents, a reduction of
      19.5% compared to April 2008;

    * mainline passenger revenue (PRASM) of 8.51 cents, down
      2.1% from the previous year; and

    * mainline total unit revenue (RASM) 9.30 cents, a
      1.3% increase from April 2008.

Frontier's unrestricted cash position remained stable with a
balance of $70.1 million for the period ending April 2009.  "Once
again, for the sixth month in a row, we have seen the payoff of
our year-long restructuring and cost-reduction efforts," said
Frontier President and CEO Sean Menke.  "We have driven our
operating costs to among the lowest in the industry, giving us
the cost structure needed to produce operating profitably for the
last six months in one of the most competitive markets in the
country and during one the most difficult economies in nearly 80
years."

Mr. Menke credited AirFairs, the Company's three-level fare
offering, and the generation of ancillary fees for the Company's
increase in total unit revenue, or RASM.  "Even in the face of
the significant yield pressure, our revenue generation
initiatives made it possible for us to increase our total unit
revenue year-over-year by 1.3%," he said.

            FRONTIER AIRLINES HOLDINGS, INC., ET AL.
         Unaudited Condensed Consolidated Balance Sheet
                     As of April 30, 2009

                             ASSETS

CURRENT ASSETS:
Cash and cash equivalents                           $70,034,000
Restricted investments                              142,482,000
Receivables, net of allowance                        37,649,000
Deposits on fuel hedges                               3,669,000
Prepaid expenses and other assets                    22,566,000
Inventories, net of allowance                        12,375,000
Assets held for sale                                    721,000
                                                  --------------
Total current assets                                 289,496,000

Property and other equipment, net                    607,704,000
Security and other deposits                           27,158,000
Aircraft pre-delivery payments                         7,836,000
Restricted investments                                 2,987,000
Deferred loan expenses and other assets                5,441,000
                                                  --------------
Total Assets                                        $940,622,000
                                                  ==============

             LIABILITIES AND SHAREHOLDERS' EQUITY

Liabilities not subject to compromise:

CURRENT LIABILITIES:
Accounts payable                                    $39,489,000
Air traffic liability                               155,901,000
Other accrued expenses                               49,851,000
Deferred revenue & other current liabilities         15,069,000
Short-term borrowings                                 3,000,000
DIP financing                                        40,000,000
                                                  --------------
Total current liabilities not subject
to compromise                                       303,310,000

Deferred revenue and other liabilities                18,595,000
Other long-term debt -- postpetition                   3,000,000
                                                  --------------
Total liabilities not subject to compromise          324,905,000

Liabilities subject to compromise                    707,210,000
                                                  --------------
Total Liabilities                                  1,032,115,000

STOCKHOLDERS' EQUITY
Preferred stock                                               -
Common stock                                             37,000
Additional paid-in capital                          197,180,000
Accumulated deficit                                (288,710,000)
                                                  --------------
Total Stockholders' Deficit                          (91,493,000)
                                                  --------------
Total Liabilities and Stockholders' Deficit         $940,622,000
                                                  ==============

          FRONTIER AIRLINES HOLDINGS, INC., ET AL.
  Unaudited Condensed Consolidated Statement of Operations
                 Month Ended April 30, 2009

Revenues:
Passenger                                           $79,618,000
Cargo                                                   548,000
Other                                                 6,377,000
                                                  --------------
Total revenues                                        86,543,000

Operating expenses:
Flight operations                                    12,969,000
Aircraft fuel                                        20,980,000
Aircraft lease                                        9,356,000
Aircraft and traffic servicing                       14,760,000
Maintenance                                           6,903,000
Promotion and sales                                   8,956,000
General and administrative                            4,448,000
Operating expenses -- regional partner                        -
Loss (gain) on sales of assets, net                       2,000
Employee separation and other charges                         -
Depreciation                                          3,160,000
                                                  --------------
Total operating expenses                              81,534,000
                                                  --------------
Operating income (loss)                                5,009,000

Non-operating income (expense):
Interest income                                          95,000
Interest expense                                     (1,708,000)
Loss from early extinguishment of debt                        -
Other, net                                               35,000
                                                  --------------
Total non-operating expense, net                      (1,578,000)

Income before reorganization items
& income tax                                          3,431,000

Reorganization items                                   1,075,000
Income tax expense                                             -
                                                  --------------
Net Income (Loss)                                     $2,356,000
                                                  ==============

             FRONTIER AIRLINES HOLDINGS, INC., ET AL.
   Unaudited Condensed Consolidated Statement of Cash Flows
                   Month Ended April 30, 2009

Cash flows from operating activities:
Net Income (Loss)                                   $2,356,000

Adjustments to reconcile net loss to net cash
used in operating activities:
  ESOP and stock option compensation expense             78,000
  Depreciation and amortization                       3,397,000
  Assets beyond economic repair                         115,000
  Mark to market adjustments on
   derivative contracts                                       -
  Amounts paid for settled derivative contracts               -
  Gain on disposal of equipment
   & other assets, net                                    2,000
  Loss on early extinguishment of debt                        -
  Reorganization items                                1,075,000
Changes in operating assets and liabilities:
  Restricted investments                             (8,124,000)
  Receivables                                         2,820,000
  Security and other deposits                        (2,920,000)
  Prepaid expenses and other assets                  (3,091,000)
  Inventories                                            89,000
  Accounts payable                                   (5,042,000)
  Air traffic liability                              10,745,000
  Other accrued expenses                             (5,330,000)
  Deferred revenue and other liabilities               (929,000)
                                                 --------------
Net cash used in operating activities                (4,759,000)

Cash flows from reorganization activities
Net cash used in reorganization activities            (335,000)
                                                 --------------
Total net cash used in operating activities          (5,094,000)

Cash flows from investing activities:
Aircraft purchase deposits made                     (3,130,000)
Aircraft purchase deposits returned                     27,000
Sale of short-term investment                                -
Proceeds from the sale of property and
equipment and assets held for sale                      23,000
Capital expenditures                                  (586,000)
Proceeds from the sale of aircraft
-- reorganization                                            -
                                                 --------------
Net cash used in investing activities                (3,666,000)

Cash flows from financing activities:
Proceeds from DIP financing (postpetition)          10,000,000
Extinguishment of long-term borrowings                       -
Principal payments on long-term borrowings          (1,596,000)
Principal payments on short-term borrowing                   -
Payment of financing fees                           (1,403,000)
Extinguishment of long-term borrowings --
  reorganization                                              -
                                                 --------------
Net cash provided by financing activities             7,001,000

Decrease in cash and cash equivalents                (1,759,000)
Cash and cash equivalents at beginning of period     71,793,000
                                                 --------------
Cash and cash equivalents at end of period          $70,034,000
                                                 ==============

                     About Frontier Airlines

Headquartered in Denver, Colorado, Frontier Airlines Inc. --
http://www.frontierairlines.com/-- provides air transportation
for passengers and freight.  It operates jet service carriers
linking Denver, Colorado hub to 46 cities coast-to-coast, 8 cities
in Mexico, and 1 city in Canada, as well as provide service from
other non-hub cities, including service from 10 non-hub cities to
Mexico.

Frontier Airlines and its debtor-affiliates filed for Chapter 11
protection on April 10, 2008 (Bankr. S.D. N.Y. Case No. 08-11297
thru 08-11299).  Benjamin S. Kaminetzky, Esq., and Hugh R.
McCullough, Esq., at Davis Polk & Wardwell, represent the Debtors
in their restructuring efforts. Togul, Segal & Segal LLP is the
Debtors' Conflicts Counsel, Faegre & Benson LLP is the Debtors'
Special Counsel, and Kekst and Company is the Debtors'
Communications Advisors.

Bankruptcy Creditors' Service, Inc., publishes Frontier Airlines
Bankruptcy News.  The newsletter tracks the Chapter 11 proceedings
of Frontier Airlines Inc. and its debtor-affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


HAWAIIAN TELCOM: Files Monthly Operating Report for March 2009
--------------------------------------------------------------

                Hawaiian TelCom Communications, Inc.
                          Balance Sheet
                      As of March 31, 2009

Cash and cash equivalents                          $90,259,976
Accounts receivable                                          -
Materials and supplies                                       -
Prepaid expenses                                        25,000
Other current assets                                         -
Property and equipment                                       -
Investment in subsidiaries                         984,225,462
Deferred charges and other assets                   11,809,333
Intangible assets                                            -
                                               ---------------
Total assets                                    $1,086,319,771
                                               ===============

Current portion of long-term debt                1,075,592,933
Accounts payable                                             -
Payroll and related benefits payable                         -
Accrued other taxes                                          1
Accrued interest                                    29,914,250
Advance billings                                             -
Other current liabilities                           15,362,830
Long-term debt                                               -
Employee benefit obligations                                 -
Other liabilities                                            -
                                               ---------------
Total liabilities                                1,120,870,014
                                               ---------------

Equity                                            (375,465,574)
Intercompany receivable                           (102,072,088)
Intercompany payable                               442,987,419
                                               ---------------
Net owner interest                                 (34,550,243)
                                               ---------------
Total liabilities and partners' capital         $1,086,319,771
                                               ===============

              Hawaiian TelCom Communications, Inc.
                        Income Statement
              For the Month Ended March 31, 2009

Operating revenues                                           -

Operating expenses:
Cost of goods sold                                          -
Salaries and wages                                     $6,626
Pension and other benefits                                  -
Employee related expenses                                   -
Contracted services                                     8,333
Restructuring expenses                                      -
Rents                                                       -
Materials                                                   -
Advertising                                                 -
Gross receipts and other taxes                              -
Uncollectibles                                              -
All other                                                 448
Depreciation and amortization                               -
                                               ---------------
Total operating expenses                                15,407
                                               ---------------
Operating income (loss)                                (15,407)
                                               ---------------

Other income (expense):
Interest expense                                    2,874,374
Loss on early extinguishment of debt                        -
Gain (loss) on interest rate swap                   3,967,482
Other income and expense, net                               -
                                               ---------------
Total other (income) expenses                        6,841,856
                                               ---------------
Income (loss) from continuing operations
before reorganization items and provision
for income taxes                                   (6,857,263)
Reorganization items                                    (6,122)
                                               ---------------
Income (loss) from continuing operations
before provision for income taxes                  (6,851,141)
Provision (benefit) for income taxes                         -
                                               ---------------
Net income (loss)                                  ($6,851,141)
                                               ===============

               Hawaiian TelCom Communications, Inc.
                 Cash Receipts and Disbursements
              For the Month Ended March 31, 2009

February 2009 ending book balance                  $86,236,408
Cash on hand beginning book balance                    17,553
Adjustments                                                 0
                                               ---------------

March 2009 beginning book balance                   86,253,961

Receipts
Receipts from operations                               6,121
Net change in deposits in transit                          0
Other                                                      0
                                              ---------------

Total receipts                                          6,121
                                              ---------------

Disbursements
AP & Payroll disbursements
    Check                                                (315)
    EFT                                                     0
    Wire                                           (1,160,251)
                                              ---------------
    Total AP & Payroll disbursements               (1,160,566)
                                              ---------------
Bank debts
    Bank fees                                             (66)
    Other                                                   0
                                              ---------------
    Total bank debts                                      (66)
                                              ---------------
Total disbursements                                (1,160,632)
                                              ---------------
Other transfers                                    4,000,000
                                              ---------------
ZBA credits                                        1,160,591
ZBA debits                                                 0
                                              ---------------
Total ZBAs                                         1,160,591
                                              ---------------
Adjustments                                               (66)
                                              ---------------
March 2009 ending book balance                    $90,259,976
                                              ===============

                Other Hawaiian Telcom Affiliates

Seven affiliates of Hawaiian Telcom Communications also delivered
separate individual monthly operating reports to the Court.  The
Hawaiian Telcom affiliates reported these assets and liabilities
as of March 31, 2009:

Debtor Affiliate                 Total Assets     Total Debts
----------------                --------------  --------------
Hawaiian Telcom, Inc.           $1,152,649,032  $1,152,649,032

Hawaiian Telcom Services
Company, Inc.                      $67,215,589     $67,215,589

Hawaiian Telcom IP Service
Delivery Research, LLC                      $0              $0

Hawaiian Telcom IP Video
Research, LLC                               $0              $0

Hawaiian Telcom Holdco, Inc.      ($34,550,243)   ($34,550,243)

Hawaiian Telcom IP Service
Delivery Investment, LLC                    $0              $0

Hawaiian Telcom IP Video
Investment, LLC                             $0              $0

The Debtor affiliates listed their net income or loss for the
period from March 1 to 31, 2009:

Company                                       Net Income(Loss)
-------------                                 ---------------
Hawaiian Telcom, Inc.                             ($4,952,287)
Hawaiian Telcom Services Company, Inc.            ($3,149,147)
Hawaiian Telcom IP Service Delivery Research, LLC    ($41,438)
Hawaiian Telcom IP Video Research, LLC               ($18,409)
Hawaiian Telcom Holdco, Inc.                               $0
Hawaiian Telcom IP Service Delivery Investment, LLC        $0
Hawaiian Telcom IP Video Investment, LLC                   $0

The Debtor affiliates also reported their cash receipts and
disbursements for the period from March 1 to 31, 2009:

Company                   Receipts    Disbursements   Cash Flow
-------------           -----------   -------------   ---------

Hawaiian Telcom, Inc.   $39,963,677    ($29,930,677) $7,483,446

Hawaiian Telcom Services
Company, Inc.              $362,548     ($4,913,995)  ($822,724)

Hawaiian Telcom IP Service
Delivery Research, LLC           $0        ($12,027)         $0

Hawaiian Telcom IP Video
Research, LLC                    $0         ($4,986)         $0

Hawaiian Telcom Holdco,
Inc.                             $0              $0          $0

Hawaiian Telcom IP Service
Delivery Investment, LLC         $0              $0          $0

Hawaiian Telcom IP Video
Investment, LLC                  $0              $0          $0

Based in Honolulu, Hawaii, Hawaiian Telecom Communications, Inc.
-- http://www.hawaiiantel.com/-- operates a telecommunications
company, which offers an array of telecommunications products and
services including local and long distance service, high-speed
Internet, wireless services, and print directory and Internet
directory services.

The Company and seven of its affiliates filed for Chapter 11
protection on December 1, 2008 (Bankr. D. Del. Lead Case No.
08-13086).  As reported by the TCR on December 30, 2008, Judge
Peter Walsh of the U.S. Bankruptcy Court for the District of
Delaware approved the transfer of the Chapter 11 cases to the U.S.
Bankruptcy Court for the District of Hawaii before Judge Lloyd
King (Bankr. D. Hawaii Lead Case No. 08-02005).

Richard M. Cieri, Esq., Paul M. Basta, Esq., and Christopher J.
Marcus, Esq., at Kirkland & Ellis LLP, represent the Debtors in
their restructuring efforts.  The Debtors proposed Lazard Freres &
Co. LLC as investment banker; Zolfo Cooper Management LLC as
business advisor; Deloitte & Touche LLP as independent auditors;
and Kurztman Carson Consultants LLC as notice and claims agent.
An official committee of unsecured creditors has been appointed
and is represented by Christopher J. Muzzi, Esq., at Moseley Biehl
Tsugawa Lau & Muzzi LLC, in Honolulu, Hawaii.

When the Debtors filed for protection from their creditors, they
listed total assets of $1,352,000,000 and total debts of
$1,269,000,000 as of September 30, 2008.

Bankruptcy Creditors' Service, Inc., publishes Hawaiian Telcom
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by Hawaiian Telcom Communications, Inc., and seven of
its affiliates.  (http://bankrupt.com/newsstand/or 215/945-7000)


KUSHNER LOCKE: Posts $85,827 Net Loss in February 2009
------------------------------------------------------
The Kushner-Locke Company delivered its monthly operating report
for the period February 1, 2009, to February 28, 2009.

For the period, the Debtor generated zero revenue and incurred a
net loss of $85,827.

A full-text copy of the Debtor's monthly operating report for
February 2009 is available for free at:

               http://researcharchives.com/t/s?3d5a

Headquartered in Los Angeles, California, The Kushner-Locke
Company is a low-budget movie production studio.  The company,
along with its debtor-affiliates filed for chapter 11 protection
on November 21, 2001 (Bankr. C.D. Calif. Lead Case No. 01-44828).
Carol Chow, Esq., and Charles Axelrod, Esq., at Stutman, Treister
& Glatt; Mara Mornet-Ritt, Esq., at Brandon & Morner-Ritt; and
Martin Fineman, Esq., at Davis Wright Tremaine LLP, represent the
Debtors in their restructuring efforts.  Jeremy V. Richards, Esq.,
at Pachulski Stang Ziehl & Jones LLP, represent the Official
Committee of Unsecured Creditors as counsel.


LANDAMERICA FINANCIAL: Earns $11.1 Million in March 2009
--------------------------------------------------------
LandAmerica Financial Group, Inc. filed with the U.S. Bankruptcy
Court for the Eastern District of Virginia on May 15, 2009, a
monthly operating report for the month of March 2009.

LandAmerica reported net income of $11.1 million on total revenue
of $18.9 million for the month of March 2009.

At March 31, 2009, LandAmerica had $1.27 billion in total assets,
$514.5 million in total liabilities, and $756.4 million in total
shareholders' equity.

A full-text copy of the LandAmerica's monthly operating report for
March 2009 is available at:

               http://researcharchives.com/t/s?3d5b

                 About LandAmerica Financial Group

LandAmerica Financial Group, Inc. is a leading provider of real
estate transaction services with offices nationwide and a vast
network of active agents.  LandAmerica and its affiliates operate
through approximately 700 offices and a network of more than
10,000 active agents throughout the world, including 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.

On March 6, 2009, affiliate LandAmerica Assessment Corporation,
aka National Assessment Corporation, filed its own petition for
Chapter 11 relief.  Affiliate LandAmerica Title Company filed for
for Chapter 11 relief on March 27, 2009.

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)


LTV CORP: Files April 2009 Monthly Operating Report
---------------------------------------------------
On May 19, 2009, The LTV Corporation, et al., submitted to the
U.S. Bankruptcy Court for the Northern District of Ohio their
operating report for the period ended April 30, 2009, for the LTV
Integrated Steel Business.

For the month of April 2009, the LTV Integrated Steel Business
reported total cash receipts of $1,000 and total cash
disbursements of $120,000.  Ending cash balance was $11,111,000,
as shown below:

     Beginning cash               $11,230,000
     Add: Receipts                     $1,000
     Total Available Cash         $11,231,000
     Less: Disbursements             $120,000
     Ending cash                  $11,111,000

A full-text copy of the Debtors' April 2009 operating report is
available for free at http://researcharchives.com/t/s?3d63

Headquartered in Cleveland, Ohio, The LTV Corp. is a manufacturer
with interests in steel and steel-related businesses, employing
some 17,650 workers and operating 53 plants in Europe and the
Americas.  The company filed for chapter 11 protection on
December 29, 2000 (Bankr. N.D. Ohio, Case No. 00-43866).  On
Aug. 31, 2001, the company listed $4,853,100,000 in assets and
$4,823,200,000 in liabilities.


MILACRON INC: Posts $10,411,000 Net Loss in April 2009
------------------------------------------------------
On May 21, 2009, Milacron Inc. filed with the U.S. Bankruptcy
Court for the Southern District of Ohio its monthly operating
report for April 2009.

The company reported a net loss of $10,411,000 on total sales of
$18,949,000 for the month ended April 30, 2009.

At April 30, 2009, the company had $527,497,000 in total assets
and $809,732,000 in total liabilities.

A full-text copy of the company's monthly operating report for
the month of April 2009 is available for free at:

               http://researcharchives.com/t/s?3d59

Headquartered in Batavia, Ohio, Milacron Inc. (Pink Sheets: MZIAQ)
supplies plastics-processing technologies and industrial fluids,
with major manufacturing facilities in North America, Europe and
Asia.  First incorporated in 1884, Milacron is also manufactures
synthetic water-based industrial fluids used in metalworking
applications.

The Company and six of its affiliates filed for protection on
March 10, 2009 (Bankr. S.D. Ohio Lead Case No. 09-11235).  On the
same day, the Company filed an ancillary proceeding for
reorganization of its Canadian subsidiary under the Companies'
Creditors Arrangement Act in the Ontario Superior Court of Justice
in Canada.  The Petitions include the Company and its U.S. and
Canadian subsidiaries and its non-operating Dutch holding company
subsidiary only, and do not include any of the Company's operating
subsidiaries outside the U.S. and Canada.

Kim Martin Lewis, Esq., Tim J. Robinson, Esq., and Patrick D.
Burns, Esq., at Dinsmore & Shohl LLP, represent the Debtors in
their restructuring efforts.  Conway, Del Genio, Gries Co., LLC,
is the Debtors' financial advisor.  Rothschild Inc. is the
Debtors' investment banker and financial advisor.  Kurtzman
Carson Consultants LLC is the noticing, balloting and disbursing
agent for the Debtors.  Paul, Hastings, Janofsky & Walker LLP,
represents DIP Lender General Electric Capital Corp.  Taft
Stettinius & Hollister LLP is counsel for the Official Committee
of Unsecured Creditors.

When the Debtors filed for protection from their creditors, they
listed assets and debts between $500 million to $1 billion.


MUZAK HOLDINGS: Posts $3.1 Million Net Loss in April 2009
---------------------------------------------------------
Muzak Holdings LLC filed with the U.S. Bankruptcy Court for the
District of Delaware on May 20, 2009, a monthly operating report
for the month ended April 30, 2009.

Muzak Holdings reported a net loss before reorganization items of
$2.1 million in April.  Net loss was $3.1 million on net revenue
of $17.9 million.  Interest expense was $3.5 million for the
month.

At April 30, 2009, Muzak Holdings had $318.8 million in total
assets and $514.4 million in total liabilities.

A full-text copy of the Debtors' monthly operating report for the
month ended April 30, 2009, is available at:

           http://bankrupt.com/misc/Muzak.AprilMOR.pdf

Headquartered in Fort Mill, South Carolina, Muzak Holdings LLC --
http://www.muzak.com/-- creates a variety of music programming
from a catalog of over 2.6 million songs and produces targeted
custom in-store and on-hold messaging.  Through its national
service and support network, Muzak designs and installs
professional sound systems, digital signage, drive-thru systems,
commercial television and more.  The Company and 14 affiliates
filed for Chapter 11 protection on February 10, 2009 (Bankr. D.
Del. Lead Case No. 09-10422).  Moelis & Company is serving as
financial advisor to the Company.  Kirkland & Ellis LLP is the
Debtors' counsel.  Klehr Harrison Harvey Branzburg & Ellers has
been tapped as local counsel.  In its bankruptcy petition, the
Company estimated assets and debts of $100 million to
$500 million each.


NORTEL NETWORKS: Posts $3.99 Billion Net Loss in March 2009
-----------------------------------------------------------
On May 19, 2009, Nortel Networks Inc., and certain of its U.S.
affiliates, filed their monthly operating report for the period
from March 1, 2009, to March 31, 2009, with the U.S. Bankruptcy
Court for the District of Delaware,

For the period, Nortel Networks Inc. reported a net loss of
$3.99 billion on total revenues of $477 million.

At March 31, 2009, Nortel Networks Inc. reported $2.85 billion
in total assets, $7.19 billion in total liabilities, and
$4.34 billion in shareholders' deficit.

A full-text copy of the Debtors' monthly operating report for the
month of March 2009, is available at:

               http://researcharchives.com/t/s?3d5d

                       About Nortel Networks

Headquartered in Ontario, Canada, Nortel Networks Corporation
(NYSE/TSX: NT) -- http://www.nortel.com/-- delivers next-
generation technologies, for both service provider and enterprise
networks, support multimedia and business-critical applications.
Nortel's technologies are designed to help eliminate today's
barriers to efficiency, speed and performance by simplifying
networks and connecting people to the information they need, when
they need it.  Nortel does business in more than 150 countries
around the world.  Nortel Networks Limited is the principal direct
operating subsidiary of Nortel Networks Corporation.

Nortel Networks Corp., Nortel Networks Inc., and other affiliated
corporations in Canada sought insolvency protection under the
Companies' Creditors Arrangement Act in the Ontario Superior Court
of Justice (Commercial List).  Ernst & Young has been appointed to
serve as monitor and foreign representative of the Canadian Nortel
Group.  The Monitor also sought recognition of the CCAA
Proceedings in the Bankruptcy Court under Chapter 15 of the
Bankruptcy Code.

Nortel Networks Inc. and 14 affiliates filed separate Chapter 11
petitions on January 14, 2009 (Bankr. D. Del. Case No. 09-10138).
Judge Kevin Gross presides over the case.  James L. Bromley, Esq.,
at Cleary Gottlieb Steen & Hamilton, LLP, in New York, serves as
general bankruptcy counsel; Derek C. Abbott, Esq., at Morris
Nichols Arsht & Tunnell LLP, in Wilmington, serves as Delaware
counsel.  The Chapter 11 Debtors' other professionals are Lazard
Freres & Co. LLC as financial advisors; and Epiq Bankruptcy
Solutions LLC as claims and notice agent.

The Chapter 15 case is Bankr. D. Del. Case No. 09-10164.  Mary
Caloway, Esq., and Peter James Duhig, Esq., at Buchanan Ingersoll
& Rooney PC, in Wilmington, Delaware, serves as Chapter 15
petitioner's counsel.

Certain of Nortel's European subsidiaries have also made
consequential filings for creditor protection.  The Nortel
Companies related in a press release that Nortel Networks UK
Limited and certain subsidiaries of the Nortel group incorporated
in the EMEA region have each obtained an administration order
from the English High Court of Justice under the Insolvency Act
1986.  The applications were made by the EMEA Subsidiaries under
the provisions of the European Union's Council Regulation (EC)
No. 1346/2000 on Insolvency Proceedings and on the basis that
each EMEA Subsidiary's centre of main interests is in England.
Under the terms of the orders, representatives of Ernst & Young
LLP have been appointed as administrators of each of the EMEA
Companies and will continue to manage the EMEA Companies and
operate their businesses under the jurisdiction of the English
Court and in accordance with the applicable provisions of the
Insolvency Act.

Several entities, particularly, Nortel Government Solutions
Incorporated and Nortel Networks (CALA) Inc., have material
operations and are not part of the bankruptcy proceedings.

As of September 30, 2008, Nortel Networks Corp. reported
consolidated assets of $11.6 billion and consolidated liabilities
of $11.8 billion.  The Nortel Companies' U.S. businesses are
primarily conducted through Nortel Networks Inc., which is the
parent of majority of the U.S. Nortel Companies.  As of
September 30, 2008, NNI had assets of about $9 billion and
liabilities of $3.2 billion, which do not include NNI's guarantee
of some or all of the Nortel Companies' about $4.2 billion of
unsecured public debt.

Bankruptcy Creditors' Service, Inc., publishes Nortel Networks
Bankruptcy News.  The newsletter tracks the chapter 11 proceeding
and ancillary foreign proceedings undertaken by Nortel Networks
Corp. and its various affiliates.  (http://bankrupt.com/newsstand/
or 215/945-7000)


RITZ CAMERA: Posts $9.8 Million Net Loss in April 2009
------------------------------------------------------
Ritz Camera Centers Inc.filed with the U.S. Bankruptcy Court for
the District of Delaware on May 20, 2009, a monthly operating
report for the month ended April 30, 2009.

The company reported a net loss of $9.8 million in April on
revenue of $79.6 million.  Net loss before a $6.4 million tax
benefit was $16.2 million.  Operating expenses totaled
$28.4 million.  Gross profit was $22.3 million.

At April 30, 2009, the Company had $282.4 million in total assets
and $205.9 million in total liabilities.

A copy of the Company's monthly operating report for April 2009 is
available at http://bankrupt.com/misc/Ritz.AprilMOR.pdf

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).  Irving E. Walker, Esq., Gary H. Leibowitz, Esq.,
at Cole, Schotz, Meisel, Forman & Leonard, P.A., in Baltimore,
represent the Debtor as counsel.  Norman L. Pernick, Esq., and
Karen M. Mckinley, Esq., at Cole, Schotz, Meisel, Forman &
Leonard, P.A., in Wilmington, Delaware, represent the Debtor as
local counsel.  Thomas & Libowitz, P.A., is Debtor's special
corporate counsel and conflicts counsel.  Marc S. Seinsweig, at
FTI Consulting, Inc, acts as the Debtor's chief restructuring
officer.  Kurtzman Carson Consultants LLC is the claims and
noticing agent.  Attorneys at Cooley Godward Kronish LLP
represent the official committee of unsecured creditors as lead
counsel.  The Committee selected Bifferato LLC as Delaware
counsel.  In its schedules, the Debtor listed total assets of
$277 million and total debts of $172.1 million.


SEMGROUP: Debtors' Monthly Operating Report for March 2009
----------------------------------------------------------

                   SemCrude, L.P., et al.
                  Consolidated Balance Sheet
                   As of March 31, 2009

Cash                                               $598,788,000
Accounts Receivable                                  69,109,000
Receivable from affiliates                          140,885,000
Inventories                                         154,627,000
Derivative asset                                        301,000
Margin deposits                                       2,695,000
Income taxes receivable                                      -
Deferred tax asset                                           -
Other current assets                                 29,083,000
Intercompany                                                 -
                                                 -------------
Total current assets                                995,488,000

Property, plant and equipment                       373,080,000
Accumulated depreciation                            (82,834,000)
Pipeline linefill                                     8,763,000
                                                  -------------
Net property, plant and equipment                   299,009,000

Investment in subsidiaries                          348,648,000
Long-term derivative assets                                  -
Goodwill                                              4,746,000
Investment in affiliates                            110,640,000
Accounts receivable long-term                       662,384,000
Note receivable - CAMS                              131,642,000
Other assets, net                                    30,930,000
                                                 --------------
Total assets                                     $2,583,487,000
                                                 ==============

Subject to Compromise
Accounts payable                                   $924,352,000
Accrued liabilities                               1,118,609,000
Current portion of long-term debt                   150,000,000
                                                 --------------
Total current liabilities                         2,192,961,000

Revolver facility                                   665,000,000
Working capital facility                          1,632,417,000
Term B notes                                        141,274,000
Senior notes                                        600,000,000
Pension obligations                                  13,888,000

Not Subject to Compromise
Accounts payable                                     38,133,000
Accrued liabilities                                  69,351,000
Deferred revenue                                        667,000
Derivative liabilities                                1,799,000
Current portion of long-term debt                   124,701,000
                                                  -------------
Total current liabilities                           234,651,000

Capital lease obligations                               310,000
Deferred tax liability                                   20,000
DIP credit facility                                          -
Investment in affiliates                            613,918,000
Other long-term liabilities                             235,000

Accum other comprehensive income                    (45,815,000)
Partners' capital                                (3,465,372,000)
                                                 --------------
Total partners' capital                          (3,511,187,000)
                                                 --------------
Total liabilities and partners' capital          $2,583,487,000
                                                 ==============

                   SemCrude, L.P., et al.
             Consolidated Statement of Operations
                 Month Ended March 31, 2009

Sales
Operating Outside Sales
Product Sales                                       $57,615,000

Sales
Operating Outside Sales
Product Sales                                       $48,868,000
Services                                             12,097,000
Other Operating Revenue                                 176,000
                                                   ------------
Total Outside Operating Sales                        61,141,000

Trading Activity                                        204,000
                                                   ------------
Total Outside Operating Revenue                      61,345,000
Operating Revenue Intercompany                       12,327,000
                                                   ------------
Total Operating Revenue                              73,672,000
Unrealized G/L on Derivatives                        (6,672,000)
                                                   ------------
Total Revenue                                        67,000,000

Cost of Goods Sold
COGS - Products                                      39,395,000
COGS - Transportation & Fuel                          3,715,000
COGS - Other                                             (3,000)
                                                   ------------
Total Outside Cost of Goods Sold                     43,107,000

COGS Intercompany                                    11,180,000
                                                   ------------
Total Cost of Sales                                  54,287,000
                                                   ------------
Gross Profit                                         12,713,000

Operating Expenses
Wages & Benefits                                      2,734,000
Field Expenses                                        1,042,000
Maintenance & Repairs                                   349,000
Outside Services                                        452,000
Property & Equipment Leases & Rents                   1,346,000
Insurance Permits Licenses Taxes                        641,000
Office                                                  143,000
Travel Lodging Meetings                                  75,000
Other Operating Revenue                                (318,000)
                                                   ------------
Total Operating Expenses                              6,464,000

General & Administrative Expenses
Wages & Benefits                                      3,833,000
Miscellaneous                                             1,000
Maintenance & Repairs                                    29,000
Outside Services                                      1,922,000
Property & Equipment Leases & Rents                     381,000
Insurance Permits Licenses Taxes                        565,000
Office                                                  269,000
Travel Lodging Meetings                                  80,000
Other Operating Expenses                               (607,000)
                                                   ------------
Total General &
Administrative Expenses                               6,473,000
                                                   ------------
Earnings before Interest Taxes Depn                    (224,000)

Other (Income) Expenses
Interest Income                                         (34,000)
Other Income                                            584,000
Foreign Currency Transaction (Inc) Loss                 (48,000)
Interest Expense                                        876,000
Depreciation                                          3,114,000
Amortization                                         (2,363,000)
Reorganization                                       28,937,000
                                                   ------------
Net Income                                         ($31,290,000)
                                                   ============

From March 1 to 31, 2009, the Debtors disbursed a total of
$8,748,662.

                         About SemGroup LP

SemGroup L.P. -- http://www.semgrouplp.com/-- is a midstream
service company providing the energy industry means to move
products from the wellhead to the wholesale marketplace.  SemGroup
provides diversified services for end users and consumers of crude
oil, natural gas, natural gas liquids, refined products and
asphalt.  Services include purchasing, selling, processing,
transporting, terminaling and storing energy.  SemGroup serves
customers in the United States, Canada, Mexico, Wales, Switzerland
and Vietnam.

SemGroup L.P. and its debtor-affiliates filed for Chapter 11
protection on July 22, 2008 (Bankr. D. Del. Lead Case No.
08-11525).  John H. Knight, Esq., L. Katherine Good, Esq. and Mark
D. Collins, Esq., at Richards Layton & Finger; Harvey R. Miller,
Esq., Michael P. Kessler, Esq., and Sherri L. Toub, Esq., at Weil,
Gotshal & Manges LLP; and Martin A. Sosland, Esq., and Sylvia A.
Mayer, Esq., at Weil Gotshal & Manges LLP, represent the Debtors
in their restructuring efforts.  Kurtzman Carson Consultants
L.L.C. is the Debtors' claims agent.  The Debtors' financial
advisors are The Blackstone Group L.P. and A.P. Services LLC.

Margot B. Schonholtz, Esq., and Scott D. Talmadge, Esq., at Kaye
Scholer LLP; and Laurie Selber Silverstein, Esq., at Potter
Anderson & Corroon LLP, represent the Debtors' prepetition
lenders.

SemGroup L.P.'s affiliates, SemCAMS ULC and SemCanada Crude
Company, sought protection under the Companies' Creditors
Arrangement Act (Canada) on July 22, 2008.  Ernst & Young, Inc.,
is the appointed monitor of SemCanada Crude Company and its
affiliates' reorganization proceedings before the Canadian
Companies' Creditors Arrangement Act.  The CCAA stay expires on
November 21, 2008.

SemGroup L.P.'s consolidated, unaudited financial condition as of
June 30, 2007, showed $5,429,038,000 in total assets and
$5,033,214,000 in total debts.  In their petition, they showed
more than $1,000,000,000 in estimated total assets and more than
$1,000,000,000 in total debts.

Bankruptcy Creditors' Service, Inc., publishes SemGroup Bankruptcy
News.  The newsletter tracks the chapter 11 proceedings undertaken
by SemGroup L.P. and its various affiliates.
(http://bankrupt.com/newsstand/or 215/945-700)


SHARPER IMAGE: Posts $601,974 Net Loss in April 2009
----------------------------------------------------
On May 19, 2009, TSIC, Inc., formerly known as The Sharper Image
Corporation, filed with the U.S. Bankruptcy Court for the District
of Delaware its monthly operating report for April 2009.

Including reorganization items of $618,673, the company reported a
net loss of $601,974 for the month ended April 30, 2009.  The
company generated zero revenues during the period.

At April 30, 2009, the company had $11.2 million in total assets
and $102.3 million in total liabilities.

A full-text copy of TSIC's monthly operating report for the month
ended April 30, 2009, is available at:

               http://researcharchives.com/t/s?3d5e

                         The Sharper Image

Headquartered in San Francisco, California, Sharper Image Corp. --
http://www.sharperimage.com/-- was a multi-channel specialty
retailer.  It operated 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 was 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 February 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 September 16, 2008.  Sharper
Image sought and obtained the Court's approval to change its name
to "TSIC, Inc." in relation to 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; Bankruptcy Creditors' Service
Inc., http://bankrupt.com/newsstand/or 215/945-7000)


SPANSION INC: Files Monthly Operating Report for March 2009
-----------------------------------------------------------
Spansion Inc. CEO Jhon Kispert filed on May 8, 2009, the Company's
monthly operating report for March 2009.

Mr. Kispert notes that Spansion Inc. is the holding company that
directly and indirectly owns Spansion LLC, the principal
operating company of Spansion.  It does not have any employees,
nor does it conduct any business that generates any revenue.  It
also does not file any separate income or payroll tax returns, he
says.  However, Spansion Inc. is the parent company for
Spansion's federal consolidated and California worldwide unitary
tax returns.

A full-text copy of Spansion Inc.'s March Operating Report is
available for free at:

  http://bankrupt.com/misc/SpansionInc_MarchMOR.pdf

                          Spansion Inc.
                         Balance Sheet
                     As of March 29, 2009

ASSETS
Unrestricted Cash & Cash Equiv.                           $0
Restricted Cash & Cash Equiv.                              0
Accounts Receivable (net)                                  0
Notes Receivable                                           0
Inventories                                                0
Prepaid Expenses                                           0
Professional Retainers                                     0
Other Current Assets
    Intercompany - stock option expense charge    $13,228,226
    Intercompany investment in Spansion LLC     2,287,659,061
                                                -------------
Total current assets                            2,300,887,287

Property and Equipment                                      0
Real Property & Improvements                               0
Machinery and Equipment                                    0
Furniture, fixtures & Office Equip.                        0
Leasehold Improvements                                     0
Vehicles                                                   0
Less Accumulated Depreciation                              0
                                                -------------
Total Property and Equipment                               0
OTHER ASSETS
Loans to Insiders                                          0
Other Assets                                               0
                                                -------------
Total Other Assets                                          0
                                                -------------
Total Assets                                   $2,300,887,287
                                                =============

LIABILITIES AND OWNER EQUITY
Liabilities Not Subject to Compromise (Postpetition)
Accounts Payable                                          $0
Taxes Payable                                              0
Wages Payable                                              0
Notes Payable                                              0
Rent/Lease                                                 0
Secured Debt                                               0
Professional Fees                                          0
Amounts Due to Insiders                                    0
Other Postpetition Liabilities                             0
                                                            0
                                                -------------
Total Postpetition Liabilities                              0

Liabilities Subject to Compromise (Prepetition)
Secured Debt                                               0
Priority Debt                                              0
Intercompany Payable                                  64,907
Unsecured Debt                                             0
                                                -------------
Total Prepetition Liabilities                         64,907
                                                -------------
Total Liabilities                                      64,907

OWNER EQUITY
Capital Stock                                        161,382
Additional Paid-in Capital                     2,353,316,481
Partners' Capital Account                                  0
Owner's Equity Account                                     0
Retained Earnings-Prepetition                    (51,314,059)
Retained Earnings-Postpetition                    (1,341,423)
Adjustments to Owner Equity                                0
Postpetition Contributions                                 0
                                                -------------
Net Owner Equity                               2,300,822,381
                                                -------------
Total Liabilities and Owner Equity             $2,300,887,287
                                                =============

                         Spansion Inc.
                   Statement of Operations
               For Month Ended March 29, 2009

Revenues
Gross Revenue                                             $0
Less: Returns & Allowances                                 0
                                                -------------
Net Revenue                                                0
Cost of Goods Sold
Beginning Inventory                                         0
Add: Other costs                                      300,346
Gross Profit                                                0
                                                -------------
Cost of Goods Sold                                    300,346
                                                -------------
Gross Profit                                         (300,346)
Operating Expenses
Advertising                                                0
Auto and Truck Expense                                     0
Bad Debts                                                  0
Contributions                                              0
Employee Benefits Programs                                 0
Insider Compensation                                       0
Insurance                                                  0
Management Fees/Bonuses                                    0
Office Expense                                             0
Pension & Profit-sharing Plans                             0
Repairs and Maintenance                                    0
Rent and Lease Expense                                     0
Salaries/Commissions/Fees                                  0
Supplies                                                   0
Taxes-Payroll                                              0
Taxes-Real Estate                                          0
Taxes-Others                                               0
Travel and Entertainment                                   0
Utilities                                                  0
Other Assets                                       1,041,078
                                                -------------
Total Operating Expense Before Depreciation        1,041,078
Depreciation/Depletion/Amort.                               0
                                                -------------
Net Profit(loss) Before Other Income & Expenses    (1,341,423)

OTHER INCOME AND EXPENSES
Other Income                                               0
Interest Expense                                           0
Other Expense                                              0
Net Profit(loss)Before
                                                -------------
Reorganization Items                              (1,341,423)
Reorganization Items
Professional Fees                                          0
U.S. Trustee Quarterly Fees                                0
Income Taxes                                               0
                                                -------------
Net Profit(loss)                                  ($1,341,423)
                                                =============

                       About Spansion Inc.

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., Spansion LLC, Spansion Technology LLC, Spansion
International, Inc., and Cerium Laboratories LLC filed voluntary
petitions for Chapter 11 on March 1, 2009 (Bankr. D. Del. Lead
Case No. 09-10690).  On February 9, 2009, Spansion's Japanese
subsidiary, Spansion Japan Ltd., voluntarily entered into a
proceeding under the Corporate Reorganization Law (Kaisha Kosei
Ho) of Japan to obtain protection from its creditors as part of
the Company's restructuring efforts.  None of Spansion's
subsidiaries in countries other than the United States and Japan
are included in the U.S. or Japan filings.  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.
The United States Trustee has appointed an official committee of
unsecured creditors in the case.  As of September 30, 2008,
Spansion disclosed total assets of $3,840,000,000, and total
debts of $2,398,000,000.

Spansion Japan Ltd. filed a Chapter 15 petition on April 30, 2009
(Bankr. D. Del. Case No. 09-11480).  The Chapter 15 Petitioner's
counsel is Gregory Alan Taylor, Esq., at Ashby & Geddes.  It said
that Spansion Japan had $10 million to $50 million in assets and
$50 million to $100 million in debts.


SPANSION INC: Spansion LLC'S Monthly Operating Report for March
---------------------------------------------------------------
Spansion LLC CFO Nathan Sarkisian filed on May 22, 2009, Spansion
LLC's monthly operating report for March 2009.  Spansion LLC is
the principal operating company of Spansion.  It is the parent
company of Spansion International, Inc. and all other foreign
Spansion entities.

According to Mr. Sarkisian, Spansion LLC has employees, and
conducts businesses that generate revenue.  It filed its own
payroll tax returns, and it is included in Spansion Inc.'s
federal consolidated and California worldwide unitary tax
returns.

A full-text copy of Spansion LLC's March Operating Report may be
accessed for free at:

  http://bankrupt.com/misc/SpansionLLC_MarchMOR.pdf

                          Spansion LLC
                          Balance Sheet
                      As of March 29, 2009

ASSETS
Unrestricted Cash & Cash Equiv.                  $78,317,906
Restricted Cash & Cash Equiv.                      6,192,231
Accounts Receivable (net)                        125,022,448
Inventories                                      149,798,590
Prepaid Expenses                                  15,964,107
Professional Retainers                             9,587,977
ST Intercompany                                  268,571,882
Other Current Assets                              17,776,078
                                                -------------
Total current assets                              671,231,218

Property and Equipment
Real Property & Improvements                      13,078,518
Machinery and Equipment                        2,359,584,152
Furniture, fixtures & Office Equip.                        0
Leasehold Improvements                           741,241,791
Vehicles                                                   0
Less Accumulated Depreciation                 (2,764,508,494)
                                                -------------
Total Property and Equipment                     349,395,967
OTHER ASSETS
Loans to Insiders                                          0
LT Intercompany                                  264,799,046
Other Assets                                     174,537,927
                                                -------------
Total Other Assets                                439,336,972
                                                -------------
Total Assets                                   $1,459,964,157
                                                =============

LIABILITIES AND OWNER EQUITY
Liabilities Not Subject to
Compromise Postpetition
Accounts Payable                                ($13,792,748)
Taxes Payable                                     (3,212,639)
Wages Payable                                     (3,105,892)
Secured Debt                                     (79,197,120)
Accrued expense                                   (1,962,646)
Deferred income                                  (21,367,003)
Amounts Due to Insiders                                    0
Intercompany                                     (69,944,032)
Other Postpetition Liabilities                      (433,886)
                                                -------------
Total Postpetition Liabilities                   (193,015,966)
Liabilities Subject to
Compromise Prepetition
Secured Debt                                    (677,729,606)
Priority Debt                                    (20,410,090)
Unsecured Debt                                  (666,548,744)
Intercompany                                    (289,330,670)
                                                -------------
Total Prepetition Liabilities                 (1,654,019,111)
                                                -------------
Total Liabilities                              (1,654,019,111)
OWNER EQUITY
Intecompany common stock                      (2,289,378,740)
Additional Paid-in Capital                      (124,015,097)
Partners' Capital Account                                  0
Owner's Equity Account                                     0
Retained Earnings-Prepetition                  2,794,528,651
Retained Earnings-Postpetition                     5,936,105
Postpetition Contributions                                 0
                                                -------------
Net Owner Equity                                 387,070,919
                                                -------------
Total Liabilities and Owner Equity            ($1,459,964,157)
                                                =============

                          Spansion LLC
                    Statement of Operations
                For Month Ended March 29, 2009

Revenues
Gross revenues                                  $157,780,289
Less: Returns and allowances                      (4,182,348)
                                                -------------
Net Revenue                                      153,597,941
Cost of Goods Sold
Beginning inventory                              212,204,956
Add: Purchases                                   102,534,569
Add: Cost of Labor                                 6,189,434
Add: Other costs                                  18,174,427
Less: Ending inventory                           149,798,590
                                                -------------
Cost of Goods Sold                                189,304,796
                                                -------------
Gross Profit                                      (35,706,856)
Operating Expenses
Building expense                                   1,955,873
Labor and benefits                                 7,258,701
Freight                                                6,433
Marketing and communications                          70,095
Material                                             328,759
Outside Services                                   5,247,180
Repairs and Maintenance                              362,320
Telecom and software                               1,193,839
Travel                                               204,855
Other                                              1,503,877
                                                -------------
Total Operating Expense
Before Depreciation                               18,131,933
Depreciation/Depletion/Amort.                       2,433,457
                                                -------------
Net Profit(loss) Before Other
Income & Expenses                                 (56,272,245)

OTHER INCOME AND EXPENSES
Other Income                                     (55,180,069)
Interest Expense                                   2,796,347
Other Expense                                              0
                                                -------------
Net Profit(loss)Before
Reorganization Items                              (3,888,523)
Reorganization Items
Professional Fees                                  2,241,103
U.S. Trustee Quarterly Fees                                0
Interest earned on accumulated
  cash from Chapter 11                                259,242
Other reorganization expenses                        101,764
                                                -------------
Total reorganization items                          2,602,109
Income taxes                                         (554,527)
                                                -------------
Net Profit(loss)                                  ($5,936,105)
                                                =============

                          Spansion LLC
         Schedule of Cash Receipts and Disbursements
                For Month Ended March 29, 2009

Cash Beginning of Month                           $48,912,407
Receipts
Customer Receipts                                 77,616,255
Intercompany receipts from Spansion
   Japan Limited                                    5,160,902
Other Receipts                                       150,507
                                                -------------
Total Receipts                                    82,927,664
Disbursements
Buildings                                            108,602
Foundry & Subcon                                   1,923,295
Intercompany disbursements to
  Spansion Japan Limited                                    0
Labor and benefits                                10,613,271
Material                                          11,494,842
Other                                                416,707
Outside Services                                     574,742
Repair and maintenance                               319,927
Capital expenditures                                 198,641
Debt obligations & Capital leases                  2,497,944
Taxes                                                 89,478
Facility closure costs                                     0
Restructuring professional fees                      160,251
Utilities deposit                                  1,192,231
Intercompany transfers(debtor entities )           1,182,103
Intercompany transfers(non-debtor entities)       22,750,132
                                                -------------
Total Disbursements                               53,522,165
Net Cash Inflow/(Outflow)                          29,405,498
                                                -------------
Cash End of Month                                 $78,317,906
                                                =============

                       About Spansion Inc.

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., Spansion LLC, Spansion Technology LLC, Spansion
International, Inc., and Cerium Laboratories LLC filed voluntary
petitions for Chapter 11 on March 1, 2009 (Bankr. D. Del. Lead
Case No. 09-10690).  On February 9, 2009, Spansion's Japanese
subsidiary, Spansion Japan Ltd., voluntarily entered into a
proceeding under the Corporate Reorganization Law (Kaisha Kosei
Ho) of Japan to obtain protection from its creditors as part of
the Company's restructuring efforts.  None of Spansion's
subsidiaries in countries other than the United States and Japan
are included in the U.S. or Japan filings.  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.
The United States Trustee has appointed an official committee of
unsecured creditors in the case.  As of September 30, 2008,
Spansion disclosed total assets of $3,840,000,000, and total
debts of $2,398,000,000.

Spansion Japan Ltd. filed a Chapter 15 petition on April 30, 2009
(Bankr. D. Del. Case No. 09-11480).  The Chapter 15 Petitioner's
counsel is Gregory Alan Taylor, Esq., at Ashby & Geddes.  It said
that Spansion Japan had $10 million to $50 million in assets and
$50 million to $100 million in debts.


SPECTRUM BRANDS: Posts $14.3 Million Net Loss in April 2009
-----------------------------------------------------------
Spectrum Brands Inc. reported a net loss of $14.3 million
on revenue of $106.7 million for the month ended April 30, 2009.
For the month, the loss before interest, taxes, depreciation and
amortization was $4.2 million.

A copy of the Company's monthly operating report for the month of
April 2009 is available at:

         http://bankrupt.com/misc/Spectrum.AprilMOR.pdf

                      About Spectrum Brands

Based in Cibolo, Texas, Spectrum Brands, Inc. --
http://www.spectrumbrands.com/-- supplies consumer batteries,
lawn and garden care products, specialty pet supplies, shaving and
grooming products, household insect control products, personal
care products, and portable lighting.  Spectrum Brands' business
is operated in three reportable segments: (a) Global Batteries and
Personal Car; (b) Global Pet Supplies; and (c) Home and Garden.
Spectrum Brands has roughly 5,960 employees worldwide, with about
2,700 of those employees working within the United States.  In
addition, Spectrum Brands holds a 50% interest in a domestic
entity; minority interests (less than 25% each) in a domestic
entity and a foreign entity; a limited partnership interest in a
foreign entity; and a 100% interest in a foreign trust.

Spectrum Brands, Inc., and 13 subsidiaries filed separate
Chapter 11 petitions on February 3, 2009 (Bankr. W.D. Tex. Lead
Case No. 09-50455).  The Hon. Ronald B. King presides over the
cases.  D. J. Baker, Esq., at Skadden, Arps, Slate, Meagher & Flom
LLP, in New York; Harry A. Perrin, Esq., and D. Bobbitt Noel, Jr.,
Esq., at Vinson & Elkins LLP, in Houston, Texas; and William B.
Kingman, Esq., in San Antonio, serve as the Debtors' counsel.
Sutherland Asbill & Brennan LLP acts as special counsel; Perella
Weinberg Partners LP, as financial advisor; Deloitte Tax LLP as
tax consultant; and Logan & Company Inc. as claims and noticing
agent.  As of September 30, 2008, Spectrum Brands had
$2,247,479,000 in total assets and $3,274,717,000 in total
liabilities.

An official committee of equity security holders -- composed of
Mittleman Brothers, LLC, Ralston H. Coffin, Cookie Jar LLC and
the Peter and Karen Locke Living Trust -- was appointed by the
U.S. Trustee in Spectrum's bankruptcy cases on March 11, 2009.
The Equity Committee has tapped Alston & Bird LLP as its
bankruptcy counsel.

Bankruptcy Creditors' Service, Inc., publishes Spectrum Brands
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by Spectrum Brands Inc. and its various subsidiaries.
(http://bankrupt.com/newsstand/or 215/945-7000)


TRONOX INC: Files Monthly Operating Report for April 2009
---------------------------------------------------------

            TRONOX INCORPORATED CHAPTER 11 DEBTORS
       Unaudited Condensed Consolidated Balance Sheet
                    As of April 30, 2009

ASSETS
Cash and cash equivalents                           $18,700,000
Notes and accounts receivable intercompany          326,000,000
Accounts receivable, third parties                  104,700,000
Inventories, net                                    165,400,000
Prepaid and other assets                             24,100,000
Income tax receivable                                   500,000
Deferred income taxes                                 1,200,000
                                                ----------------
Total Current Assets                                640,600,000

Property, plant and equipment, net                  201,400,000
Goodwill                                                      0
Notes and advances receivable, intercompany         110,800,000
Other long-term assets                              384,800,000
                                                ----------------
Total Assets                                      $1,337,600,000
                                                ================

LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
Accounts payable, third parties                     $51,400,000
Accrued liabilities                                  62,800,000
Long-term debt due within one year                   50,000,000
Income taxes payable                                  2,000,000
Long-term debt classified as current                212,600,000
                                                ----------------
Total Current Liabilities                           378,800,000

Noncurrent liabilities:
Deferred income taxes                                13,000,000
Environmental remediation and restoration           130,000,000
Notes and advances payable, intercompany              8,500,000
Other                                               118,100,000
                                                ----------------
Total Liabilities
  Not Subject to Compromise                          648,400,000

Minority Interest                                     3,400,000

Liabilities Subject to compromise                   433,500,000

Commitments and contingencies                                 0

Stockholders' equity
Common stock                                            400,000
Capital in excess of par value                      495,900,000
Retained earnings (accumulated deficit)            (206,100,000)
Accumulated other comprehensive
  income (loss)                                      (31,100,000)
  Treasury stock, at cost                             (6,800,000)
                                                ----------------
  Total Stockholders' Equity                         252,300,000
                                                ----------------
Total Liabilities and Stockholders' Equity        $1,337,600,000
                                                ================

            TRONOX INCORPORATED CHAPTER 11 DEBTORS
  Unaudited Condensed Consolidated Statement of Operations
                 Month Ended April 30, 2009

Net Sales                                            $49,300,000
Cost of goods sold                                    45,500,000
                                               ----------------
Gross margin                                          3,800,000
Selling, general and admin. Expenses                   4,800,000
Provision for doubtful notes and accounts                      0
                                                ----------------
                                                      (1,000,000)

Interest and debt expense                              2,400,000
Other (income) expense, net                           (2,000,000)
Reorganization items                                   2,700,000
                                                ----------------
Loss from continuing operations
before income taxes                                  (4,100,000)

Income tax provision (benefit)                                 0
                                                ----------------
Loss from continuing operations                       (4,100,000)

Income (loss) from discontinued operations,
net of tax                                             (500,000)
                                                ----------------
Net loss                                             ($4,600,000)
                                                ================

                         About Tronox Inc.

Headquartered in Oklahoma City, Tronox Incorporated (Pink Sheets:
TRXAQ, TRXBQ) is the world's fourth-largest producer and marketer
of titanium dioxide pigment, with an annual production capacity of
535,000 tonnes.  Titanium dioxide pigment is an inorganic white
pigment used in paint, coatings, plastics, paper and many other
everyday products.  The Company's four pigment plants, which are
located in the United States, Australia and the Netherlands,
supply high-performance products to approximately 1,100 customers
in 100 countries.  In addition, Tronox produces electrolytic
products, including sodium chlorate, electrolytic manganese
dioxide, boron trichloride, elemental boron and lithium manganese
oxide.

Tronox has $1.6 billion in total assets, including $646.9 million
in current assets, as at September 30, 2008.  The Company has
$881.6 million in current debts and $355.9 million in total
noncurrent debts.

Tronox Inc., aka New-Co Chemical, Inc., and 14 other affiliates
filed for Chapter 11 protection on January 13, 2009 (Bankr. S.D.
N.Y. Case No. 09-10156).  The case is before Hon. Allan L.
Gropper. Richard M. Cieri, Esq., Jonathan S. Henes, Esq., and
Colin M. Adams, Esq., at Kirkland & Ellis LLP in New York,
represent the Debtors.  The Debtors also tapped Togut, Segal &
Segal LLP as conflicts counsel; Rothschild Inc. as investment
bankers; Alvarez & Marsal North America LLC, as restructuring
consultants; and Kurtzman Carson Consultants serves as notice and
claims agent.

An official committee of unsecured creditors and an official
committee of equity security holders have been appointed in the
cases.  The Creditors Committee has retained Paul, Weiss, Rifkind,
Wharton & Garrison LLP as counsel.

Until September 30, 2008, Tronox Inc. was publicly traded on the
New York Stock Exchange under the symbols TRX and TRX.B.  Since
then, Tronox Inc. has traded on the Over the Counter Bulletin
Board under the symbols TROX.A.PK and TROX.B.PK.  As of
December 31, 2008, Tronox Inc. had 19,107,367 outstanding shares
of class A common stock and 22,889,431 outstanding shares of
class B common stock.

Bankruptcy Creditors' Service, Inc., publishes Tronox Bankruptcy
News.  The newsletter tracks the Chapter 11 proceeding undertaken
by Tronox Inc. and its 14 affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


TVI CORP: Posts $1,104,104 Net Loss in April 2009
-------------------------------------------------
On May 20, 2009, TVI Corporation, et al., filed with the U.S.
Bankruptcy Court for the District of Maryland an unaudited monthly
operating report for the period April 1, 2009,
to April 30, 2009.

TVI Corporation reported a consolidated net loss of $1,104,104 on
net revenue of $2,958,484 for the month ended April 30, 2009.

At April 30, 2009, TVI Corporation's consolidated balance sheet
showed $17,619,280 in total assets and $35,702,718 in total
liabilities.

A full-text copy of the Debtors' monthly operating report for
April 30, 2009, is available at:

               http://researcharchives.com/t/s?3d5c

Headquartered in Glenn Dale, Maryland, TVI Corporation --
http://www.tvicorp.com/-- supplies military and civilian
emergency first responder and first receiver products, personal
protection products and quick-erect shelter systems.  The products
include powered air-purifying respirators, respiratory filters and
quick-erect shelter systems used for decontamination, hospital
surge systems and command and control.  The users of these
products include military and homeland defense/homeland security
customers.  The Company and two of its affiliates filed for
Chapter 11 protection on April 1, 2009 (Bankr. D. Md. Lead Case
No. 09-15677).  Christopher William Mahoney, Esq., at Duane Morris
LLP, represents the Debtors in their restructuring efforts.  The
Debtors tapped Buccino & Associates, Inc., as their financial
advisors and consultants.


YOUNG BROADCASTING: Earns $6.8 Million in April 2009
----------------------------------------------------
On May 20, 2009, Young Broadcasting, Inc. filed its monthly
operating report for the month ended April 30, 2009, with the
United States Bankruptcy Court for the Southern District of New
York.

The Debtors reported net income of $6.8 million on net operating
revenues of $14.7 million for the month ended April 30, 2009.

At April 30, 2009, the Debtors had $335.1 million in total
assets and $931.1 million in total liabilities.

A full-text copy of the Debtors' monthly operating report for the
month of April 2009 is available for free at:

               http://researcharchives.com/t/s?3d59

Young Broadcasting, Inc. -- http://www.youngbroadcasting.com/--
owns 10 television stations and the national television
representation firm, Adam Young Inc.  Five stations are affiliated
with the ABC Television Network (WKRN-TV - Nashville, TN, WTEN-TV
- Albany, NY, WRIC-TV - Richmond, VA, WATE-TV - Knoxville, TN, and
WBAY-TV -Green Bay, WI), three are affiliated with the CBS
Television Network (WLNS-TV - Lansing, MI, KLFY-TV - Lafayette, LA
and KELO- TV - Sioux Falls, SD), one is affiliated with the NBC
Television Network (KWQC-TV - Davenport, IA) and one is affiliated
with MyNetwork (KRON-TV - San Francisco, CA).  In addition, KELO-
TV-Sioux Falls, SD is also the MyNetwork affiliate in that market
through the use of its digital channel capacity.

The Company and its affiliates filed for Chapter 11 protection on
February 13, 2009 (Bankr. S.D. N.Y. Lead Case No.:09-10645).  Jo
Christine Reed, Esq., at Sonnenschein Nath & Rosenthal LLP,
represents the Debtors in their restructuring efforts.  Andrew N.
Rosenberg, Esq., at Paul Weiss Rifkind Wharton & Harrison LLP,
represents the Official Committtee of Unsecured Creditors as
counsel.  The Debtors selected UBS Securities LLC as consultant;
Ernst & Young LLP as accountant; Epiq Bankruptcy Solutions LLC as
claims agent; and David Pauker chief restructuring officer.  The
Debtors listed total assets of $575,600,070 and total debts of
$980,425,190.



                           *********

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.

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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.  Ma. Theresa Amor J. Tan Singco, 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.

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