TCR_Public/090613.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, June 13, 2009, Vol. 13, No. 162

                            Headlines



ACCEPTANCE INSURANCE: Posts $22,593 Net Loss in May 2009
CHARTER COMMUNICATIONS: Monthly Operating Report for April 2009
CMR MORTGAGE II: Earns $168,951 in Month Ended April 30, 2009
LANDSOURCE COMMUNITIES: Monthly Operating Report for March 2009
LANDSOURCE COMMUNITIES: Monthly Operating Report for April 2009

LEHMAN BROTHERS: Lehman Brothers Commodity's Oct. 2 Balance Sheet
LEHMAN BROTHERS: LBCC'S October 4, 2008 Balance Sheet
LEHMAN BROTHERS: LB Rose Ranch's February 8, 2009 Balance Sheet
LEHMAN BROTHERS: LB 2080 Kalakaua's April 22, 2009 Balance Sheet
MASONITE CORP: Files Monthly Operating Report -- April 26, 2009

MERUELO MADDUX: Files Initial Monthly Operating Report
MERUELO MADDUX: Posts $2.9 Million Net Loss in April 2009
MIDWAY GAMES: Files Amended Feb. 12 - March 31 Operating Report
MIDWAY GAMES: Posts $3.5 Million Net Loss in April 2009
NEWPOWER HOLDINGS: Files Monthly Operating Report for April 2009

NOBLE INTERNATIONAL: Files Initial Monthly Operating Report
REFCO INC: Refco LLC's Monthly Operating Report for April 2009
SILICON GRAPHICS: Files Initial Monthly Operating Report
SMURFIT-STONE: Files Monthly Operating Report for April 2009
SPECTRUM BRANDS: Monthly Operating Report -- Ended April 26, 2009



                            *********

ACCEPTANCE INSURANCE: Posts $22,593 Net Loss in May 2009
--------------------------------------------------------
Acceptance Insurance Companies Inc. filed with the U.S.
Bankruptcy Court for the District of Nebraska on June 9, 2009,
its monthly operating report for May 2009.

For the month ended May 31, 2009, Acceptance Insurance
Companies Inc. posted a net loss of $22,593 on net investment
income of $600.

The Debtor reported total assets of $23,482,935, total
liabilities of $138,179,390, and stockholders' deficit of
$114,698,455 as of May 31, 2009.

A full-text copy of the Debtor's May 2009 monthly report is
available at http://researcharchives.com/t/s?3dd5

                  About Acceptance Insurance

Headquartered in Council Bluffs, Iowa, Acceptance Insurance
Companies, Inc. -- http://www.aicins.com/-- owns, either
directly or indirectly, several companies, one of which is an
insurance company that accounts for substantially all of the
business operations and assets of the corporate groups.

The Company filed for Chapter 11 protection on January 7, 2005
(Bankr. D. Nebr. Case No. 05-80059).  The Debtor's affiliates --
Acceptance Insurance Services, Inc., and American Agrisurance,
Inc. -- each filed Chapter 7 petitions (Bankr. D. Nebr. Case Nos.
05-80056 and 05-80058) on January 7, 2005.  John J. Jolley, Esq.,
at Kutak Rock LLP, represents the Debtor in its restructuring
efforts.  Lawyers at McGrath North Mullin & Kratz PC, LLO,
represent the Official Committee of Unsecured Creditors in
Acceptance Insurance's case.


CHARTER COMMUNICATIONS: Monthly Operating Report for April 2009
---------------------------------------------------------------

        Charter Communications, Inc., and Subsidiaries
                  Consolidated Balance Sheets
                     As of April 30, 2009

                            ASSETS
Current Assets:
  Cash and cash equivalents                        $826,000,000
  Accounts receivable, net                          210,000,000
  Prepaid expenses & other current assets           113,000,000
                                                 --------------
Total Current Assets                              1,149,000,000

Investment in Cable Properties:
  Property, plant and equipment, net              4,901,000,000
  Franchises, net                                 7,377,000,000
                                                 --------------
Total investment in cable properties, net        12,278,000,000
                                                 --------------
Other Noncurrent Assets                             207,000,000
                                                 --------------
Total assets                                    $13,634,000,000
                                                 ==============

             LIABILITIES AND SHAREHOLDERS' DEFICIT

Liabilities not subject to compromise:
Current Liabilities:
  Accounts payable and accrued expenses          $1,277,000,000
  Current portion of long-term debt              11,774,000,000
                                                 --------------
Total Current Liabilities                        13,051,000,000

Other Long-Term Liabilities                         700,000,000

Liabilities subject to compromise                10,509,000,000
Temporary equity                                    255,000,000
                                                 --------------
                                                 11,464,000,000
Shareholders' deficit
  Charter shareholders' deficit                 (10,735,000,000)
  Noncontrolling interest                          (146,000,000)
                                                 --------------
  Total Shareholders' deficit                   (10,881,000,000)
                                                 --------------
Total Liabilities and Shareholders' Deficit     $13,634,000,000
                                                 ==============

        Charter Communications, Inc., and Subsidiaries
             Consolidated Statements of Operations
                  Month Ended April 30, 2009

REVENUES                                           $562,000,000

COSTS AND EXPENSES:
  Operating, excl. depreciation & amortization      238,000,000
  Selling, general and administrative               109,000,000
  Depreciation and amortization                     109,000,000
                                                 --------------
  Income from operations                            106,000,000
                                                 --------------

OTHER INCOME (EXPENSES):
  Interest expense, net                             (73,000,000)
  Reorganization items, net                         (50,000,000)
                                                 --------------
                                                   (123,000,000)
                                                 --------------
  Loss before income taxes                          (17,000,000)
                                                 --------------
  Income tax expense                                (20,000,000)
                                                 --------------
  Consolidated net loss                             (37,000,000)
                                                 --------------
  Less: Net loss - noncontrolling interest            8,000,000
                                                 --------------
  Net loss - Charter shareholders                  ($29,000,000)
                                                 ==============

For the month of April 2009, the Debtors received $561,089,000
from Charter Communications Operating LLC, and $370,000 from
Charter Communications Holding Company, LLC, for a total cash
receipt of $561,459,000.  The Debtors disbursed a total of
$573,392,000.

A full-text copy of Charter's April Operating Report is available
for free at http://bankrupt.com/misc/CCI_MOR_April2009.pdf

                  About Charter Communications

Based in St. Louis, Missouri, Charter Communications, Inc. (Pink
OTC: CHTRQ) -- http://www.charter.com/-- is a broadband
communications company and the fourth-largest cable operator in
the United States.  Charter provides a full range of advanced
broadband services, including advanced Charter Digital Cable(R)
video entertainment programming, Charter High-Speed(R) Internet
access, and Charter Telephone(R).  Charter Business(TM) similarly
provides scalable, tailored, and cost-effective broadband
communications solutions to business organizations, such as
business-to-business Internet access, data networking, video and
music entertainment services, and business telephone.  Charter's
advertising sales and production services are sold under the
Charter Media(R) brand.

On March 16, 2009, Charter Communications filed its annual report
on Form 10-K, which contained a going concern modification to the
audit opinion from its independent registered public accounting
firm.

Charter Communications and more than a hundred affiliates filed
voluntary Chapter 11 petitions on March 27, 2009 (Bankr. S.D. N.Y.
Case No. 09-11435).  Pacific Microwave filed for bankruptcy
protection on April 20, 2009, disclosing assets of not more than
$50,000 and debts of more than $1 billion.

The Hon. James M. Peck presides over the cases.  Richard M. Cieri,
Esq., Paul M. Basta, Esq., and Stephen E. Hessler, Esq., at
Kirkland & Ellis LLP, in New York, serve as counsel to the
Debtors, excluding Charter Investment Inc.  Albert Togut, Esq., at
Togut, Segal & Segal LLP in New York, serves as Charter
Investment, Inc.'s bankruptcy counsel.  Curtis, Mallet-Prevost,
Colt & Mosel LLP, in New York, is the Debtors' conflicts counsel.

Ernst & Young LLP is the Debtors' tax advisors.  KPMG LLP is the
Debtors' independent auditors.  The Debtors' valuation consultants
are Duff & Phelps LLC; the Debtors' financial advisors are Lazard
Freres & Co. LLC; and the Debtors' restructuring consultants are
AlixPartners LLC.  The Debtors' regulatory counsel is Davis Wright
Tremaine LLP, and Friend Hudak & Harris LLP.  The Debtors' claims
agent is Kurtzman Carson Consultants LLC.  As of March 31, 2009,
the Debtors had total assets of $13,650,000,000, and total
liabilities of  $24,501,000,000, resulting in total shareholders'
deficit of $10,851,000,000.

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


CMR MORTGAGE II: Earns $168,951 in Month Ended April 30, 2009
-------------------------------------------------------------
On June 1, 2009, CMR Mortgage Fund II, LLC, filed with the U.S.
Bankruptcy Court for the Northern District of California a monthly
operating report for the month ended April 30, 2009.

The Company reported net income of $168,951 on total revenues of
$105,604 for the month of April.

At April 30, 2009, the Debtor had total assets of $73,278,602,
total liabilities of $34,383,045, and total equity of $38,895,557.

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

San Francisco, California-based CMR Mortgage Fund II, LLC, is a
limited liability company organized for the purpose of making or
investing in business loans secured by deeds of trust or mortgages
on real properties located primarily in California.   The Company
previously funded lending activities through loan pay downs or pay
offs, as well as by selling its membership interests, and by
selling all or a portion of interests in the loans to individual
investors.  The Company commenced operations in February 2004.
The Company ceased accepting new members in the third quarter of
2006.

The Company filed for Chapter 11 protection on March 31, 2009
(Bankr. N. D. Calif. Case No. 09-30788).  Robert G. Harris, Esq.,
at the Law Offices of Binder and Malter, represents the Debtor as
counsel.  The Debtor listed assets of $10 million to $50 million,
and debts of $10 million to $50 million.


LANDSOURCE COMMUNITIES: Monthly Operating Report for March 2009
---------------------------------------------------------------

            LandSource Communities Development, LLC
                   Consolidated Balance Sheet
                      As of March 31, 2009

Assets

  Cash                                           $10,031,768
  Receivables                                     21,372,781
  Inventories                                  1,331,920,083
  Operating Properties, net                       85,451,542
  Investment in unconsolidated entities           20,434,903
  Other assets                                    47,940,908
                                             ---------------
     Total Assets                             $1,517,151,984
                                             ===============

Liabilities and Members' Capital
  Accounts payable & Accrued Liabilities          97,590,524
  Deferred Revenue                                58,994,635
  Debt                                            94,319,076
                                             ---------------
  Total Liabilities Not Subject to Comp          250,904,235

  Total Liabilities Subject to Compromise      1,388,029,608
                                             ---------------
  Total Liabilities                            1,638,933,843

  Members' Capital/(Deficit)                    (121,781,859)
                                             ---------------
  Total Liabilities and Members' Capita       $1,517,151,984
                                             ===============

             LandSource Communities Development, LLC
             Consolidated Statements of Operations
                    Month Ended March 31, 2009

Statistical Information
  Homesites sold to related parties                        0
  Homesites sold to third parties                        234
  Acreage sold to related parties                          0
  Acreage sold to third parties                            0
  Homes sold to third parties                              0

Land Sale Operations
  Sales related parties                           $3,230,856
  Sales to third parties                          11,841,682
                                             ---------------
     Total Land Sale Revenue                      15,072,538

  Cost of sales to related parties                  (246,418)
  Cost of sales to third parties                  28,134,089
  Loss on Impaired Real State Inventories                  0
                                             ---------------
     Total Cost of Land Sales                     27,887,672
                                             ---------------
Gross Margin on Land Sales Operations            (12,815,134)

Home Sale Operations
  Sales                                                    0
  Cost of sales                                            0
                                             ---------------
Gross Margin on Home Sale Operations                       0

Operating Cost and Expenses
  Field, selling, general & administration         5,438,605
  Management fees to related parties                 466,667
                                             ---------------
     Total Operating Costs and Expenses            5,905,273

Other Operations, net
  Equity in earnings of unconsolidated              (321,821)
  Rental operations                                  413,338
  Valencia Water Company                                   0
  Club operations                                    155,739
  Interest income                                      2,621
  Interest expense                                   (65,796)
  Loss on debt restructuring                               0
  Loss on interest rate swap termination                   0
  Miscellaneous                                     (148,949)
                                             ---------------
     Total Other Operations, net                      35,132
                                             ---------------
Earnings (Loss) before Reorganization It         (18,685,275)

Reorganization Expenses                            2,687,908
                                             ---------------
Net Earnings (Loss)                             ($21,373,183)
                                             ===============

            LandSource Communities Development, LLC
  Consolidated Schedule of Cash Receipts and Disbursements
                  Month Ended March 31, 2009

Net Operating Cash Flow
  Housing revenue                                $10,944,273
  Commercial Revenue                               6,669,286
  Other                                                    0
  Option deposits                                          0
  Less: Closing Costs                                      0
                                             ---------------
     Total Operating Inflows                      17,613,559

Operating Cash Outflows
  Master improvements & CFDs                      (4,704,244)
  Property tax                                    (2,861,036)
  General & Administrative                        (1,639,422)
  Other                                             (666,615)
  Management fees                                   (466,667)
                                             ---------------
     Total Operating Outflows                    (10,337,984)

     Total Net Operating Cash Flow                 7,275,575

Bankruptcy Disbursements
  Bankruptcy Payments
  Utility Deposits                                         0
  Mechanic's liens/Other                                   0
                                             ---------------
     Total Bankruptcy Payments                             0

DIP Interest and Fees
  DIP Facility interest                             (728,540)
  Undrawn fee                                        (22,999)
  DIP Facility fees                                  150,000
                                             ---------------
     Total DIP Interest and Fees                    (601,538)

  Restructuring professionals                     (2,316,024)

     Total Bankruptcy Disbursements               (2,917,562)
                                             ---------------
     Total Net Cash Flow                          $4,358,013
                                             ===============
DIP Facility
  Beginning Balance                               93,249,044
  Borrowings                                      13,700,000
  (Repayments)                                   (15,044,273)
                                             ---------------
  Ending Balance                                 $91,904,770
                                             ===============
Disbursement Per Debtor
  LandSource Communities Development, L            2,301,495
  California Land Company                                  0
  Friendswood Development Company, LLC                 1,286
  Lennar Land Partners II                             39,405
  Kings Wood Development Company, L.C.                     0
  LSC Associates, LLC                                      0
  Lennar Mare Island, LLC                          1,007,076
  LandSource Communities Development Su                    0
  Lennar Moorpark, LLC                                   800
  Lennar Stevenson Holdings, LLC                         800
  The Newhall Land and Farming Company                     0
  LandSource Holding Company, LLC                 20,018,913
  LNR-Lennar Washington Square, LLC                  468,015
  Lennar Bressi Ranch Venture, LLC                       800
  The Newhall Land and Farming Company
  (a California Limited Partnership)               3,896,978
  NWI-IL GP, LLC                                         800
  Tournament Players Club at Valencia,               407,215
  Southwest Communities Development, LL              136,201
  Valencia Corporation                                     0
  Stevenson Ranch Venture, LLC                        20,035
  Valencia Realty Company                                  0
                                             ---------------
     Total Disbursement                          $28,299,820
                                             ===============

                  About LandSource Communities

LandSource Communities Development LLC, which operates in Arizona,
California, Florida, New Jersey, Nevada and Texas, is involved in
the planning and development of master planned communities and
transforming undeveloped land into ready-to-build home sites and
commercial properties.  With the exception of one development
project in Marina del Rey, California, LandSource does not build
homes or commercial properties.

LandSource and 20 of its affiliates filed for Chapter 11
bankruptcy protection before the U.S. Bankruptcy Court for the
District of Delaware on June 8, 2008 (Lead Case No. 08-11111).
The Debtors are represented by Marcia Goldstein, Esq., at Weil
Gotshal & Manges in New York, and Mark D. Collins, Esq., at
Richards Layton & Finger in Wilmington, Delaware.  Lazard Freres &
Co. acts as the Debtors' financial advisors, and Kurtzmann Carson
Consultants serves as the Debtors' notice and claims agent.

According to the Troubled Company Reporter on May 22, 2008,
LandSource sought help from its lender consortium to restructure
$1.24 billion of its debt.  LandSource engaged a 100-bank lender
group led by Barclays Capital Inc., which syndicates LandSource's
debt.  LandSource had received a default notice on that debt from
the lender group after it was not able to timely meet its
payments during mid-April.  However, LandSource failed to reach an
agreement with its lenders on a plan to modify and restructure its
debt, forcing it to seek protection from creditors.  (LandSource
Bankruptcy News, Issue No. 22;  http://bankrupt.com/newsstand/or
215/945-7000).


LANDSOURCE COMMUNITIES: Monthly Operating Report for April 2009
---------------------------------------------------------------

             LandSource Communities Development, LLC
                    Consolidated Balance Sheet
                       As of April 30, 2009

Assets

  Cash                                            $6,242,109
  Receivables                                     21,235,926
  Inventories                                  1,338,471,668
  Operating Properties, net                       85,340,084
  Investment in unconsolidated entities           20,308,475
  Other assets                                    47,477,769
                                             ---------------
     Total Assets                             $1,519,076,030
                                             ===============

Liabilities and Members' Capital
  Accounts payable & Accrued Liabilities          96,403,682
  Deferred Revenue                                59,124,848
  Debt                                           103,910,533
                                             ---------------
  Total Liabilities Not Subject to Comp          259,439,064

  Total Liabilities Subject to Compromise      1,387,847,106
                                             ---------------
  Total Liabilities                            1,647,286,170

  Members' Capital/(Deficit)                    (128,210,140)
                                             ---------------
  Total Liabilities and Members' Capita       $1,519,076,030
                                             ===============

            LandSource Communities Development, LLC
              Consolidated Statements of Operations
                    Month Ended April 30, 2009

Statistical Information
  Homesites sold to related parties                       $0
  Homesites sold to third parties                          0
  Acreage sold to related parties                          0
  Acreage sold to third parties                            0
  Homes sold to third parties                              0

Land Sale Operations
  Sales related parties                               (3,557)
  Sales to third parties                              11,886
                                             ---------------
     Total Land Sale Revenue                           8,329

  Cost of sales to related parties                         0
  Cost of sales to third parties                       9,959
  Loss on Impaired Real State Inventories                  0
                                             ---------------
     Total Cost of Land Sales                          9,959
                                             ---------------
Gross Margin on Land Sales Operations                 (1,630)

Home Sale Operations
  Sales                                                    0
  Cost of sales                                            0
                                             ---------------
Gross Margin on Home Sale Operations                       0

Operating Cost and Expenses
  Field, selling, general & administration         2,536,677
  Management fees to related parties                 466,667
                                             ---------------
     Total Operating Costs and Expenses            3,003,344

Other Operations, net
  Equity in earnings of unconsolidated              (126,428)
  Rental operations                                  326,997
  Valencia Water Company                                   0
  Club operations                                    (87,750)
  Interest income                                      6,083
  Interest expense                                   (41,497)
  Loss on debt restructuring                               0
  Loss on interest rate swap termination                   0
  Miscellaneous                                      148,433
                                             ---------------
     Total Other Operations, net                     225,838
                                             ---------------
Earnings (Loss) before Reorganization It          (2,779,137)

Reorganization Expenses                            3,649,144
                                             ---------------
Net Earnings (Loss)                              ($6,428,281)
                                             ===============

            LandSource Communities Development, LLC
    Consolidated Schedule of Cash Receipts and Disbursements
                   Month Ended April 30, 2009

Net Operating Cash Flow
  Housing revenue                                         $0
  Commercial Revenue                               1,876,869
  Other                                                    0
  Option deposits                                          0
  Less: Closing Costs                                      0
                                             ---------------
     Total Operating Inflows                       1,876,869

Operating Cash Outflows
  Master improvements & CFDs                      (6,941,347)
  Property tax                                     2,666,791
  General & Administrative                        (1,942,159)
  Other                                             (233,673)
  Management fees                                          0
                                             ---------------
     Total Operating Outflows                     (6,450,388)

     Total Net Operating Cash Flow                (4,573,519)

Bankruptcy Disbursements
  Bankruptcy Payments
  Utility Deposits                                         0
  Mechanic's liens/Other                                   0
                                             ---------------
     Total Bankruptcy Payments                             0

DIP Interest and Fees
  DIP Facility interest                             (748,573)
  Undrawn fee                                        (16,734)
  DIP Facility fees                                 (242,965)

     Total DIP Interest and Fees                  (1,008,273)

  Restructuring professionals                     (5,506,243)

     Total Bankruptcy Disbursements               (6,514,516)
                                             ---------------
     Total Net Cash Flow                        ($11,088,034)
                                             ===============
DIP Facility
  Beginning Balance                               91,904,770
  Borrowings                                      12,400,000
  (Repayments)                                    (2,808,542)
                                             ---------------
  Ending Balance                                $101,496,228
                                             ===============
Disbursement Per Debtor
  LandSource Communities Development, L            1,170,689
  California Land Company                                325
  Friendswood Development Company, LLC                 2,287
  Lennar Land Partners II                             78,551
  Kings Wood Development Company, L.C.                   325
  LSC Associates, LLC                                    325
  Lennar Mare Island, LLC                          1,471,024
  LandSource Communities Development Su                  325
  Lennar Moorpark, LLC                                   325
  Lennar Stevenson Holdings, LLC                         325
  The Newhall Land and Farming Company                   325
  LandSource Holding Company, LLC                  5,870,592
  LNR-Lennar Washington Square, LLC                2,479,832
  Lennar Bressi Ranch Venture, LLC                       325
  The Newhall Land and Farming Company
  (a California Limited Partnership)               4,183,127
  NWI-IL GP, LLC                                         325
  Tournament Players Club at Valencia,               495,847
  Southwest Communities Development, LL                1,950
  Valencia Corporation                                   325
  Stevenson Ranch Venture, LLC                        15,973
  Valencia Realty Company                                325
                                             ---------------
     Total Disbursement                          $15,773,446
                                             ===============

                  About LandSource Communities

LandSource Communities Development LLC, which operates in Arizona,
California, Florida, New Jersey, Nevada and Texas, is involved in
the planning and development of master planned communities and
transforming undeveloped land into ready-to-build home sites and
commercial properties.  With the exception of one development
project in Marina del Rey, California, LandSource does not build
homes or commercial properties.

LandSource and 20 of its affiliates filed for Chapter 11
bankruptcy protection before the U.S. Bankruptcy Court for the
District of Delaware on June 8, 2008 (Lead Case No. 08-11111).
The Debtors are represented by Marcia Goldstein, Esq., at Weil
Gotshal & Manges in New York, and Mark D. Collins, Esq., at
Richards Layton & Finger in Wilmington, Delaware.  Lazard Freres &
Co. acts as the Debtors' financial advisors, and Kurtzmann Carson
Consultants serves as the Debtors' notice and claims agent.

According to the Troubled Company Reporter on May 22, 2008,
LandSource sought help from its lender consortium to restructure
$1.24 billion of its debt.  LandSource engaged a 100-bank lender
group led by Barclays Capital Inc., which syndicates LandSource's
debt.  LandSource had received a default notice on that debt from
the lender group after it was not able to timely meet its
payments during mid-April.  However, LandSource failed to reach an
agreement with its lenders on a plan to modify and restructure its
debt, forcing it to seek protection from creditors.  (LandSource
Bankruptcy News, Issue No. 22;  http://bankrupt.com/newsstand/or
215/945-7000).


LEHMAN BROTHERS: Lehman Brothers Commodity's Oct. 2 Balance Sheet
-----------------------------------------------------------------

            Lehman Brothers Commodity Services Inc.
                        Balance Sheet
                    As of October 2, 2008

Assets:
Cash                                              $20,000,000
Derivative Assets from Customers                2,735,000,000
Receivables from Affiliates                     2,931,000,000
Other Assets                                      598,000,000
                                               --------------
Total Assets                                   $6,284,000,000
                                               ==============

Liabilities and Stockholder's Equity:
Derivative Liabilities to Customers            $2,303,000,000
Payables to Affiliates                          2,510,000,000
Long-term Payables                                696,000,000
                                               --------------
Total Liabilities                              $5,509,000,000

Total Stockholder's Equity                        775,000,000
                                               --------------
Total Liabilities and Stockholder's Equity     $6,284,000,000
                                               ==============

                     Lehman Brothers' Collapse

Founded in 1850, Lehman Brothers Holdings Inc. --
http://www.lehman.com/-- was the fourth largest investment bank
in the United States, offering a full array of financial services
in equity and fixed income sales, trading and research, investment
banking, asset management, private investment management and
private equity.  Its worldwide headquarters in New York and
regional headquarters in London and Tokyo are  complemented by a
network of offices in North America, Europe, the Middle East,
Latin America and the Asia Pacific region.

Lehman filed for Chapter 11 on September 15, 2008 (Bankr. S.D.
N.Y. Case No. 08-13555) after Barclays PLC and Bank of America
Corp. backed out of a deal to acquire the company, and the U.S.
Treasury refused to provide financial support that would have
eased out a sale.  Lehman's bankruptcy petition listed
$639 billion in assets and $613 billion in debts, effectively
making the firm's bankruptcy filing the largest in U.S. history.
Several affiliates filed bankruptcy petitions thereafter.

On September 19, 2008, Lehman Brothers, Inc., was placed in
liquidation pursuant to the provisions of the Securities Investor
Protection Act (Case No. 08-CIV-8119).  James W. Giddens was
appointed trustee for the SIPA liquidation of the business of LBI.

Lehman Brothers Finance AG, aka Lehman Brothers Finance SA, filed
a petition under Chapter 15 of the U.S. Bankruptcy Code on
February 10, 2009.  Lehman Brothers Finance, a subsidiary of
Lehman Brothers Inc., estimated both its assets and liabilities at
more than $1 billion.

LBHI's U.S. bankruptcy cases are handled by Judge James M. Peck.
Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at Weil,
Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

Lehman Brothers International (Europe), the principal UK trading
company in the Lehman group, has been placed into administration,
together with Lehman Brothers Ltd., LB Holdings PLC and LB UK RE
Holdings Ltd.  Tony Lomas, Steven Pearson, Dan Schwarzmann and
Mike Jervis, partners at PricewaterhouseCoopers LLP, have been
appointed as joint administrators to wind down the business of LBI
(Europe) on September 15, 2008.

Lehman Brothers Japan Inc. and Lehman Brothers Holdings Japan Inc.
filed for bankruptcy in the Tokyo District Court on September 16.
The two units have combined liabilities of JPY4 trillion or
US$38 billion.  Akio Katsuragi, a former Morgan Stanley executive,
runs Lehman's Japan units.

Lehman Brothers Asia Limited, Lehman Brothers Securities Asia
Limited and Lehman Brothers Futures Asia Limited suspended
operations upon the bankruptcy filing of their U.S. counterparts.

                            Asset Sales

Barclays Bank Plc has acquired Lehman's North American
investment banking and capital markets operations and supporting
infrastructure for US$1.75 billion.  Nomura Holdings Inc., the
largest brokerage house in Japan, on September 22 reached an
agreement to purchased Lehman Brothers Holdings, Inc.'s operations
in Europe and the Middle East less than 24 hours after it reached
a deal to buy Lehman's operations in the Asia Pacific for
US$225 million.  Nomura paid only US$2 dollars for Lehman's
investment banking and equities businesses in Europe, but agreed
to retain most of Lehman's employees.

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


LEHMAN BROTHERS: LBCC'S October 4, 2008 Balance Sheet
-----------------------------------------------------

            Lehman Brothers Commercial Corporation
                        Balance Sheet
                     As of October 4, 2008

Assets:
Cash                                              $11,000,000
Derivative Assets from Customers                1,395,000,000
Receivables from Affiliates                     2,887,000,000
                                               --------------
Total Assets                                   $4,293,000,000
                                               ==============

Liabilities and Stockholder's Equity:
Derivative Liabilities to Customers              $778,000,000
Payables to Affiliates                          3,015,000,000
Accrued Expenses                                   58,000,000
                                               --------------
Total Liabilities                              $3,851,000,000

Total Stockholder's Equity                        442,000,000
                                               --------------
Total Liabilities and Stockholder's Equity     $4,293,000,000
                                               ==============

                     Lehman Brothers' Collapse

Founded in 1850, Lehman Brothers Holdings Inc. --
http://www.lehman.com/-- was the fourth largest investment bank
in the United States, offering a full array of financial services
in equity and fixed income sales, trading and research, investment
banking, asset management, private investment management and
private equity.  Its worldwide headquarters in New York and
regional headquarters in London and Tokyo are  complemented by a
network of offices in North America, Europe, the Middle East,
Latin America and the Asia Pacific region.

Lehman filed for Chapter 11 on September 15, 2008 (Bankr. S.D.
N.Y. Case No. 08-13555) after Barclays PLC and Bank of America
Corp. backed out of a deal to acquire the company, and the U.S.
Treasury refused to provide financial support that would have
eased out a sale.  Lehman's bankruptcy petition listed
$639 billion in assets and $613 billion in debts, effectively
making the firm's bankruptcy filing the largest in U.S. history.
Several affiliates filed bankruptcy petitions thereafter.

On September 19, 2008, Lehman Brothers, Inc., was placed in
liquidation pursuant to the provisions of the Securities Investor
Protection Act (Case No. 08-CIV-8119).  James W. Giddens was
appointed trustee for the SIPA liquidation of the business of LBI.

Lehman Brothers Finance AG, aka Lehman Brothers Finance SA, filed
a petition under Chapter 15 of the U.S. Bankruptcy Code on
February 10, 2009.  Lehman Brothers Finance, a subsidiary of
Lehman Brothers Inc., estimated both its assets and liabilities at
more than $1 billion.

LBHI's U.S. bankruptcy cases are handled by Judge James M. Peck.
Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at Weil,
Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

Lehman Brothers International (Europe), the principal UK trading
company in the Lehman group, has been placed into administration,
together with Lehman Brothers Ltd., LB Holdings PLC and LB UK RE
Holdings Ltd.  Tony Lomas, Steven Pearson, Dan Schwarzmann and
Mike Jervis, partners at PricewaterhouseCoopers LLP, have been
appointed as joint administrators to wind down the business of LBI
(Europe) on September 15, 2008.

Lehman Brothers Japan Inc. and Lehman Brothers Holdings Japan Inc.
filed for bankruptcy in the Tokyo District Court on September 16.
The two units have combined liabilities of JPY4 trillion or
US$38 billion.  Akio Katsuragi, a former Morgan Stanley executive,
runs Lehman's Japan units.

Lehman Brothers Asia Limited, Lehman Brothers Securities Asia
Limited and Lehman Brothers Futures Asia Limited suspended
operations upon the bankruptcy filing of their U.S. counterparts.

                            Asset Sales

Barclays Bank Plc has acquired Lehman's North American
investment banking and capital markets operations and supporting
infrastructure for US$1.75 billion.  Nomura Holdings Inc., the
largest brokerage house in Japan, on September 22 reached an
agreement to purchased Lehman Brothers Holdings, Inc.'s operations
in Europe and the Middle East less than 24 hours after it reached
a deal to buy Lehman's operations in the Asia Pacific for
US$225 million.  Nomura paid only US$2 dollars for Lehman's
investment banking and equities businesses in Europe, but agreed
to retain most of Lehman's employees.

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


LEHMAN BROTHERS: LB Rose Ranch's February 8, 2009 Balance Sheet
---------------------------------------------------------------

                       LB Rose Ranch LLC
                         Balance Sheet
                    As of February 8, 2009

Assets:
Cash                                                 $579,000
Real Estate Held for Sale                           6,370,000
Other Assets                                        2,319,000
                                               --------------
Total Assets                                       $9,268,000
                                               ==============

Liabilities and Stockholder's Equity:
Payables                                             $578,000
                                               --------------
Total Liabilities                                    $578,000

Total Stockholder's Equity                          8,690,000
                                               --------------
Total Liabilities and Stockholder's Equity         $9,268,000
                                               ==============

                     Lehman Brothers' Collapse

Founded in 1850, Lehman Brothers Holdings Inc. --
http://www.lehman.com/-- was the fourth largest investment bank
in the United States, offering a full array of financial services
in equity and fixed income sales, trading and research, investment
banking, asset management, private investment management and
private equity.  Its worldwide headquarters in New York and
regional headquarters in London and Tokyo are complemented by a
network of offices in North America, Europe, the Middle East,
Latin America and the Asia Pacific region.

Lehman filed for Chapter 11 on September 15, 2008 (Bankr. S.D.
N.Y. Case No. 08-13555) after Barclays PLC and Bank of America
Corp. backed out of a deal to acquire the company, and the U.S.
Treasury refused to provide financial support that would have
eased out a sale.  Lehman's bankruptcy petition listed
$639 billion in assets and $613 billion in debts, effectively
making the firm's bankruptcy filing the largest in U.S. history.
Several affiliates filed bankruptcy petitions thereafter.

On September 19, 2008, Lehman Brothers, Inc., was placed in
liquidation pursuant to the provisions of the Securities Investor
Protection Act (Case No. 08-CIV-8119).  James W. Giddens was
appointed trustee for the SIPA liquidation of the business of LBI.

Lehman Brothers Finance AG, aka Lehman Brothers Finance SA, filed
a petition under Chapter 15 of the U.S. Bankruptcy Code on
February 10, 2009.  Lehman Brothers Finance, a subsidiary of
Lehman Brothers Inc., estimated both its assets and liabilities at
more than $1 billion.

LBHI's U.S. bankruptcy cases are handled by Judge James M. Peck.
Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at Weil,
Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

Lehman Brothers International (Europe), the principal UK trading
company in the Lehman group, has been placed into administration,
together with Lehman Brothers Ltd., LB Holdings PLC and LB UK RE
Holdings Ltd.  Tony Lomas, Steven Pearson, Dan Schwarzmann and
Mike Jervis, partners at PricewaterhouseCoopers LLP, have been
appointed as joint administrators to wind down the business of LBI
(Europe) on September 15, 2008.

Lehman Brothers Japan Inc. and Lehman Brothers Holdings Japan Inc.
filed for bankruptcy in the Tokyo District Court on September 16.
The two units have combined liabilities of
JPY4 trillion or US$38 billion.  Akio Katsuragi, a former Morgan
Stanley executive, runs Lehman's Japan units.

Lehman Brothers Asia Limited, Lehman Brothers Securities Asia
Limited and Lehman Brothers Futures Asia Limited suspended
operations upon the bankruptcy filing of their U.S. counterparts.

                            Asset Sales

Barclays Bank Plc has acquired Lehman's North American
investment banking and capital markets operations and supporting
infrastructure for US$1.75 billion.  Nomura Holdings Inc., the
largest brokerage house in Japan, on September 22 reached an
agreement to purchased Lehman Brothers Holdings, Inc.'s operations
in Europe and the Middle East less than 24 hours after it reached
a deal to buy Lehman's operations in the Asia Pacific for
US$225 million.  Nomura paid only US$2 dollars for Lehman's
investment banking and equities businesses in Europe, but agreed
to retain most of Lehman's employees.

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


LEHMAN BROTHERS: LB 2080 Kalakaua's April 22, 2009 Balance Sheet
----------------------------------------------------------------


                  LB 2080 Kalakaua Owners LLC
                        Balance Sheet
                     As of April 22, 2009

Assets
Cash                                                  $63,000
Real Estate Held for Sale                           3,650,000
Other Assets                                          118,000
                                               --------------
Total Assets                                       $3,831,000
                                               ==============

Liabilities and Stockholder's Equity:
Payables                                             $593,000
Payables to Affiliates                             30,920,000
                                               --------------
Total Liabilities                                 $31,513,000

Total Stockholder's Equity (Deficit)              (27,682,000)
                                               --------------
Total Liabilities and Stockholder's Equity         $3,831,000
                                               ==============

                     Lehman Brothers' Collapse

Founded in 1850, Lehman Brothers Holdings Inc. --
http://www.lehman.com/-- was the fourth largest investment bank
in the United States, offering a full array of financial services
in equity and fixed income sales, trading and research, investment
banking, asset management, private investment management and
private equity.  Its worldwide headquarters in New York and
regional headquarters in London and Tokyo are  complemented by a
network of offices in North America, Europe, the Middle East,
Latin America and the Asia Pacific region.

Lehman filed for Chapter 11 on September 15, 2008 (Bankr. S.D.
N.Y. Case No. 08-13555) after Barclays PLC and Bank of America
Corp. backed out of a deal to acquire the company, and the U.S.
Treasury refused to provide financial support that would have
eased out a sale.  Lehman's bankruptcy petition listed
$639 billion in assets and $613 billion in debts, effectively
making the firm's bankruptcy filing the largest in U.S. history.
Several affiliates filed bankruptcy petitions thereafter.

On September 19, 2008, Lehman Brothers, Inc., was placed in
liquidation pursuant to the provisions of the Securities Investor
Protection Act (Case No. 08-CIV-8119).  James W. Giddens was
appointed trustee for the SIPA liquidation of the business of LBI.

Lehman Brothers Finance AG, aka Lehman Brothers Finance SA, filed
a petition under Chapter 15 of the U.S. Bankruptcy Code on
February 10, 2009.  Lehman Brothers Finance, a subsidiary of
Lehman Brothers Inc., estimated both its assets and liabilities at
more than $1 billion.

LBHI's U.S. bankruptcy cases are handled by Judge James M. Peck.
Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at Weil,
Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

Lehman Brothers International (Europe), the principal UK trading
company in the Lehman group, has been placed into administration,
together with Lehman Brothers Ltd., LB Holdings PLC and LB UK RE
Holdings Ltd.  Tony Lomas, Steven Pearson, Dan Schwarzmann and
Mike Jervis, partners at PricewaterhouseCoopers LLP, have been
appointed as joint administrators to wind down the business of LBI
(Europe) on September 15, 2008.

Lehman Brothers Japan Inc. and Lehman Brothers Holdings Japan Inc.
filed for bankruptcy in the Tokyo District Court on September 16.
The two units have combined liabilities of JPY4 trillion or US$38
billion.  Akio Katsuragi, a former Morgan Stanley executive, runs
Lehman's Japan units.

Lehman Brothers Asia Limited, Lehman Brothers Securities Asia
Limited and Lehman Brothers Futures Asia Limited suspended
operations upon the bankruptcy filing of their U.S. counterparts.

                            Asset Sales

Barclays Bank Plc has acquired Lehman's North American
investment banking and capital markets operations and supporting
infrastructure for US$1.75 billion.  Nomura Holdings Inc., the
largest brokerage house in Japan, on September 22 reached an
agreement to purchased Lehman Brothers Holdings, Inc.'s operations
in Europe and the Middle East less than 24 hours after it reached
a deal to buy Lehman's operations in the Asia Pacific for
US$225 million.  Nomura paid only US$2 dollars for Lehman's
investment banking and equities businesses in Europe, but agreed
to retain most of Lehman's employees.

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


MASONITE CORP: Files Monthly Operating Report -- April 26, 2009
---------------------------------------------------------------

                     Masonite Corporation
                        Balance Sheet
                     As of April 26, 2009

ASSETS:
  Unrestricted Cash and Equivalents                $44,706,000
  Restricted Cash and Equivalents                    1,000,000
  Trade receivables net                             79,931,000
  Other receivables                                  1,863,000
  Intercompany Receivables - affiliates                941,000
  Intercompany Receivables - non-Debtor              5,197,000
  Inventories                                       86,677,000
  Prepaid                                            7,107,000
  Prepaid Retainers                                    357,000
  Current future tax asset                          17,892,000
                                               ---------------
  Current Assets                                   245,669,000
                                               ---------------
  Land                                               3,841,000
  Buildings & leaseholds                            83,541,000
  Mach & equipment                                           0
  ME - Computer equipment                           15,671,000
  ME - Office equipment                             45,516,000
  ME - Automobiles                                     200,000
  ME - Delivery equipment                              674,000
  ME - Distribution equipment                        5,156,000
  ME - Fixtures and fittings                                 0
  ME - Tooling                                       3,394,000
  M&E - Other                                      417,609,000
  Capital Leases                                       119,000
  Less: Accumulated Depreciation                  (304,611,000)
                                               ---------------
  Total Property & Equipment                       271,111,000

  Intangibles - Definite life                       42,261,000
  Investment in affiliates                          37,812,000
  Investment in non-Debtor affiliates               10,093,000
  Long-term intercompany advances - affiliates      45,671,000
  Long-term intercompany advances - non-Debtor         738,000
  Long-term receivables                                      0
  Deferred costs                                       444,000
  Long term future tax asset                                 0
                                               ---------------
  Total Assets                                    $653,799,000
                                               ===============

LIABILITIES:
  Liabilities not subject to compromise
  Capital leases                                      $135,000
  Accounts payable                                  35,041,000
  Postpetition accounts payable                     21,776,000
  Accrued Interest Revolver - adequate protection      535,000
  Accrued Interest Term Loan - adequate protection   2,698,000
  Wages Payable                                     13,530,000
  Professional Fees                                          0
  Leases not compromised                             2,128,000
  Intercompany Payables - affiliates                 7,201,000
  Intercompany Payables - non-Debtor affiliates      4,377,000
  Taxes payable                                        300,000
  Current future tax liability                               0
  Long-term Intercompany Payables - affiliates      60,915,000
  Long-term Intercompany Payables - non-Debtor               0
  Long-term future tax liability                    26,021,000
  Long-term non-controlling interest                         0
  Long-term liability                                9,375,000
                                               ---------------
  Total liabilities not subject to compromise      184,030,000
                                               ---------------
LIABILITIES & EQUITY:
  Liabilities subject to compromise              1,133,254,000
                                               ---------------
  Total liabilities                              1,317,284,000
                                               ---------------
  Equity                                          (663,484,000)
                                               ---------------
  Liabilities & Equity                            $653,799,000
                                               ===============

                      Masonite Corporation
                     Statement of Operations
               For The Month Ended April 26, 2009

Sales                                              $59,441,000
Cost of sales                                       50,525,000
                                                  ------------
Gross profit                                         8,916,000

Selling, General & Administrative                    7,206,000
Depreciation                                         2,467,000
Amortization                                            14,000
Other expense                                           93,000
Interest                                             6,879,000
Income taxes                                                 0
Non-controlling interest                                     0
                                                  ------------
Net Income                                         ($7,744,000)
                                                  ============

                      Masonite Corporation
          Statement of Cash Receipts and Disbursements
                 For Month Ended April 26, 2009

Receipts and Disbursements

Receipts
  3rd party Receipts                               $57,972,000
  Intercompany Receipts                              1,369,000
  Intercompany Funding                                       0
                                               ---------------
                                                    59,341,000

Operating Disbursements
  Employee Related                                 (14,755,000)
  Trade                                            (27,256,000)
  Capex                                             (1,722,000)
  Intercompany Trade                                (5,312,000)
  Intercompany Funding                                       0
  Other                                             (5,422,000)
                                               ---------------
                                                   (54,467,000)

Restructuring Disbursements
  Professionals                                              0
  Other                                             (1,000,000)
                                               ---------------
                                                    (1,000,000)

Debt Service Disbursement                           (7,032,000)

Other                                                    8,000
                                               ---------------
  Net Cash Generated (Used)                        ($3,150,000)
                                               ===============

A full-text copy of the Monthly Operating report is available for
free at http://bankrupt.com/misc/Masonite_MOR_April.pdf

                          About Masonite

Based in Ontario, Canada, Masonite International Corporation --
http://www.masonite.com/-- (TSE:MHM) is a vertically integrated
producer, manufacturing key components of doors, including
composite molded and veneer door facings, glass door lites and cut
stock.  The Company provides these products to its customers in
more than 70 countries around the world.  The Company is a wholly
owned subsidiary of Masonite International Inc.  It offers a range
of interior and exterior doors.  Masonite Canada operates Masonite
International's Canadian subsidiaries, well as certain other non-
United States subsidiaries.

Masonite International, Inc., and six affiliates filed petitions
on March 16, 2009, before the Ontario Superior Court of Justice
(Commercial List) under the Companies' Creditors Arrangement Act.
The Honorable Justice Campbell presides over the CCAA proceedings.

Derrick Tay and Orestes Pasparakis at Ernst & Young, Inc. serve as
monitor.  Jay A. Carfagnini, Esq., and Brian F. Emprey, Esq., at
Goodmans LLP in Toronto, serve as the Applicants' counsel.

Masonite Corporation, based in Tampa, Florida, and several U.S.
affiliates filed for Chapter 11 bankruptcy protection on the same
day (Bankr. D. Del. Case No. 09-10844).  Judge Peter J. Walsh
handles the cases.  Richard M. Cieri, Esq., Jonathan S. Henes,
Esq., and Christopher J. Marcus, Esq., at Kirkland & Ellis LLP;
and Daniel J. DeFranceschi, Esq., Jason M. Madron, Esq., and
Katisha D. Fortune, Esq., at Richards, Layton & Finger, P.A.,
serve as bankruptcy counsel.  The Debtors' Investment Banker and
Financial Advisor is Perella Wenberg Partners LLP; the Debtors'
Restructuring Advisors is Alvarez & Marsal North American LLC; and
the Debtors' Claims Agent is Kurtzman Carson Consultants LLC.

As of January 31, 2009, the Debtors had total assets of
$1,527,495,443 and total debts of $2,641,590,842.

The Debtors filed with the Bankruptcy Court a pre-negotiated
reorganization plan together with their petitions.  The Plan
provides that Masonite's existing senior secured obligations will
be converted on a pro rata basis subject to the election of each
existing holder of Senior Secured Obligations into: (i) a new
first-priority senior secured term loan; (ii) a new second-
priority senior secured PIK loan; and (iii) 97.5% of the common
equity of the reorganized Masonite.  Holders of Masonite's
existing senior subordinated notes will be allocated 2.5% of the
common equity in the reorganized Masonite plus warrants for 17.5%
of the common stock of the reorganized Company, subject to
dilution under certain conditions.  Holders of Class 5 General
Unsecured Claims under the Plan will be unimpaired and is expected
to recover 100% under the Plan.

Bankruptcy Creditors' Service, Inc., publishes Masonite Bankruptcy
News.  The newsletter tracks the CCAA proceedings in Canada and
parallel chapter 11 proceedings in Delaware undertaken by company
and its various affiliates.  (http://bankrupt.com/newsstand/or
215/945-7000)


MERUELO MADDUX: Files Initial Monthly Operating Report
------------------------------------------------------
On June 2, 2009, Meruelo Maddux Properties, Inc., and certain of
its direct and indirect subsidiaries and affiliates filed their
monthly operating report for the period from March 27, 2009,
through March 31, 2009, with the United States Bankruptcy Court
for the Central District of California.

For the period, the Debtors reported a net loss of $753,031 on
total revenue of $241,251.

At March 31, 2009, the Debtors had $659,562,207 in total assets,
$301,555,320 in total liabilities, and $358,006,888 in total
equity.

A full-text copy of the Debtors' monthly operating report for the
period from March 27, 2009, through March 31, 2009, is available
at http://researcharchives.com/t/s?3dd4

                       About Meruelo Maddux

Based in Los Angeles, California, Meruelo Maddux Properties, Inc.
-- http://www.meruelomaddux.com/-- together with its affiliates,
engage in residential, commercial and industrial development.

Meruelo Maddux and its affiliates filed for Chapter 11 protection
on March 26, 2009 (Bankr. C. D. Calif. Lead Case No. 09-13356).
Aaron De Leest, Esq., John J. Bingham, Jr., Esq., and John N.
Tedford, Esq., at Danning Gill Diamond & Kollitz, represent the
Debtors in their restructuring efforts.  Peter C. Anderson, the
United States Trustee for Region 16, appointed five creditors to
serve on the Creditors Committee.  Asa S. Hami, Esq., Tamar
Kouyoumjian, Esq., and Victor A. Sahn, Esq., at SulmeyerKupetz, A
Professional Corporation, represent the Creditors Committee as
counsel.  The Debtors' financial condition as of December 31,
2008, showed estimated assets of $681,769,000 and estimated debts
of $342,022,000.


MERUELO MADDUX: Posts $2.9 Million Net Loss in April 2009
---------------------------------------------------------
On June 2, 2009, Meruelo Maddux Properties, Inc., and certain of
its direct and indirect subsidiaries and affiliates filed their
monthly operating report for the month ended April 30, 2009, with
the United States Bankruptcy Court for the Central District of
California.

For the month of April 2009, the Debtors reported a consolidated
net loss of $2,923,235 on total revenue of $1,938,339.

At April 30, 2009, the Debtors had $659,556,236 in total assets,
$304,265,188 in total liabilities, and $355,291,047 in total
equity.

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

               http://researcharchives.com/t/s?3dd2

                       About Meruelo Maddux

Based in Los Angeles, California, Meruelo Maddux Properties, Inc.
-- http://www.meruelomaddux.com/-- together with its affiliates,
engage in residential, commercial and industrial development.

Meruelo Maddux and its affiliates filed for Chapter 11 protection
on March 26, 2009 (Bankr. C. D. Calif. Lead Case No. 09-13356).
Aaron De Leest, Esq., John J. Bingham, Jr., Esq., and John N.
Tedford, Esq., at Danning Gill Diamond & Kollitz, represent the
Debtors in their restructuring efforts.  Peter C. Anderson, the
United States Trustee for Region 16, appointed five creditors to
serve on the Creditors Committee.  Asa S. Hami, Esq., Tamar
Kouyoumjian, Esq., and Victor A. Sahn, Esq., at SulmeyerKupetz, A
Professional Corporation, represent the Creditors Committee as
counsel.  The Debtors' financial condition as of December 31,
2008, showed estimated assets of $681,769,000 and estimated debts
of $342,022,000.


MIDWAY GAMES: Files Amended Feb. 12 - March 31 Operating Report
---------------------------------------------------------------
Midway Games Inc., et al., filed with the U.S. Bankruptcy Court
for the District of Delaware an amended monthly operating report
for the period February 12, 2009, through and including March 31,
2009, to correct items in the previously filed statements of
operations and balance sheets, which were filed in May 2009.

The Debtors reported a net loss of $1.3 million on net revenues of
$23.7 million based on the corrected statements of operations of
the Debtors for the period.  This corrects an earlier reported net
loss of $28.2 million for the period.

At March 31, 2009, the Debtors had total assets of $1.37 billion
and total liabilities of $1.56 billion.

A full-text copy of the revised monthly operating report for the
period from February 12, 2009, through March 31, 2009, is
available at http://researcharchives.com/t/s?3dcb

Headquartered in Chicago, Illinois, Midway Games Inc. --
http://www.midway.com/-- develops video games and sell them
primarily in North America, Europe, Asia and Australia.  The
company and nine of its affiliates filed for Chapter 11 protection
on February 12, 2009 (Bankr. D. Del. Lead Case No. 09-10465).
David W. Carickhoff, Jr., Esq., Michael David Debaecke, Esq., and
Victoria A. Guilfoyle, Esq., at Blank Rome LLP, represent the
Debtors in their restructuring efforts.  The Debtors proposed
Lazard as their investment banker, Dewey & LeBoeuf LLP as special
counsel, and Epiq Bankruptcy Solutions LLC as claims agent.
Roberta A. DeAngelis, the United States Trustee for Region 3,
appointed five creditors to serve on an official committee of
unsecured creditors of Midway Games Inc. and its debtor-
affiliates.  Milbank Tweed Hadley & McCloy LLP and Richards,
Layton & Finger PA represent the Committee.  The Debtors'
financial condition as of September 30, 2008, showed $167,523,000
in total assets and $281,033,000 in total debt.


MIDWAY GAMES: Posts $3.5 Million Net Loss in April 2009
-------------------------------------------------------
On June 2, 2009, Midway Games Inc., et al filed their monthly
operating report for the period April 1, 2009, through and
including April 30, 2009, with the United States Bankruptcy Court
for the District of Delaware.

For the period, the Debtors reported a net loss of $3.5 million on
net revenues of $2.6 million.

At April 30, 2009, the Debtors had $1.39 billion in total assets
and $1.59 billion in total liabilities.

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?3dcc

Headquartered in Chicago, Illinois, Midway Games Inc. --
http://www.midway.com/-- develops video games and sell them
primarily in North America, Europe, Asia and Australia.  The
company and nine of its affiliates filed for Chapter 11 protection
on February 12, 2009 (Bankr. D. Del. Lead Case No. 09-10465).
David W. Carickhoff, Jr., Esq., Michael David Debaecke, Esq., and
Victoria A. Guilfoyle, Esq., at Blank Rome LLP, represent the
Debtors in their restructuring efforts.  The Debtors proposed
Lazard as their investment banker, Dewey & LeBoeuf LLP as special
counsel, and Epiq Bankruptcy Solutions LLC as claims agent.
Roberta A. DeAngelis, the United States Trustee for Region 3,
appointed five creditors to serve on an official committee of
unsecured creditors of Midway Games Inc. and its debtor-
affiliates.  Milbank Tweed Hadley & McCloy LLP and Richards,
Layton & Finger PA represent the Committee.  The Debtors'
financial condition as of September 30, 2008, showed $167,523,000
in total assets and $281,033,000 in total debt.


NEWPOWER HOLDINGS: Files Monthly Operating Report for April 2009
----------------------------------------------------------------
NewPower Holdings, Inc., filed with the U.S. Bankruptcy Court for
the Northern District of Georgia on May 27, 2009, its monthly
operating report for April 2009.  The Debtor had an opening
cash balance of $821 and an ending cash balance of $786.

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

               http://researcharchives.com/t/s?3dc9

NewPower Holdings Inc. (Pink Sheets: NWPWQ) and its debtor-
affiliates filed for chapter 11 protection on June 11, 2002
(Bankr. N.D. Ga. 02-10836).  Paul K. Ferdinands, Esq., at King &
Spalding, and William M. Goldman, Esq., at Sidley Austin Brown &
Wood LLP, represent the Debtors as counsel.  When the Debtors
filed for protection from their creditors, they reported
$231,837,000 in assets and $87,936,000 in debts.

On August 15, 2003, the U.S. Bankruptcy Court for the Northern
District of Georgia, Newnan Division, confirmed the Second Amended
Chapter 11 Plan with respect to NewPower Holdings, Inc., and TNPC
Holdings, Inc., a wholly owned subsidiary.  That Plan became
effective on October 9, 2003, with respect to the company and
TNPC.

On February 28, 2003, the Bankruptcy Court confirmed The New
Power Company's Plan, and that Plan has been effective as of
March 11, 2003, with respect to New Power.  The New Power Company
is a wholly owned subsidiary of the company.


NOBLE INTERNATIONAL: Files Initial Monthly Operating Report
-----------------------------------------------------------
On May 20, 2009, Noble International, Ltd. ,and its domestic
subsidiaries filed their monthly operating report for the period
from April 16, 2009, to April 30, 2009, with the U.S. Bankruptcy
Court for the Eastern District of Michigan.

For the period, Noble International reported a net loss of
$315,839 on zero revenue.

At April 30, 2009, Noble International had $174.0 million in total
assets, $34.8 million in total liabilities, and
$139.2 million in total stockholders' equity.

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

                     About Noble International

Headquartered in Warren, Michigan, Noble International, Ltd. --
http://www.nobleintl.com/home.html/-- provides flat, tubular,
shaped and enclosed formed structures to automotive original
equipment manufacturers and their suppliers, for use in automobile
applications, including doors, fenders, body side panels, pillars,
bumpers, door beams, load floors, windshield headers, door tracks,
door frames, and glass channels.

Noble International and its affiliates filed for Chapter 11
protection on April 15, 2009 (Bankr. E. D. Mi. Case No. 09-51720).
The Debtors proposed Foley & Lardner LLP as their general
bankruptcy counsel. Conway Mackenzie, Inc., has been tapped as the
Debtors' financial advisors.  The official committee of unsecured
creditors is represented by Jaffe Raitt Heuer & Weiss, P.C.  The
Debtors disclosed total assets of $190,763,000 and total debts of
$38,691,000, as of January 10, 2009.


REFCO INC: Refco LLC's Monthly Operating Report for April 2009
--------------------------------------------------------------
Albert Togut, the Chapter 7 Trustee overseeing the liquidation of
Refco, LLC's estate, filed with the Court a monthly statement of
cash receipts and disbursements for the period from April 1 to
April 30, 2009.

The Chapter 7 Trustee reports that Refco LLC's beginning balance
in its Money Market account with JPMorgan Chase Bank, N.A.,
totaled $78,592,000 as of April 30.

During the Reporting Period, Refco LLC received $15,000 in
interest income.  No transfers were made, Mr. Togut reported.

The Debtor held $49,301,000 at the end of the period.

                       Refco, LLC
         Schedule of Cash Receipts and Disbursements
     Through JPMorgan Money Market and Checking Accounts
                April 1 through 30, 2009

Beginning Balance, April 1, 2009                     $78,592,000

RECEIPTS
Interest Income                                           15,000
Sale of Assets                                                 0
Marshalling of Excess Capital                                  0
Man Financial - Excess Capital return                          0
Membership and Clearing Deposits                               0
Other Receivables                                              0
                                                   -------------
  TOTAL RECEIPTS                                          15,000

TRANSFERS
Money Market Account to checking account                       0
December 2008 cleared checks                                   0
                                                   -------------
  TOTAL TRANSFERS                                              0

DISBURSEMENTS
Operating expenses & other disbursements                       0
Executory contract cure payments                               0
Pursuant to payment stipulation                                0
Purchase price escrow deposit                                  0
Expected account escrow fund                                   0
Membership & clearing deposits                                 0
Payment on account of prepetition claims              29,306,000
Other disbursements                                            0

Reorganization Expenses
Attorney fees                                                 0
Trustee bond premium                                          0
Other professional fees                                       0
                                                   -------------
  TOTAL DISBURSEMENTS                                 29,306,000
                                                   -------------
Ending Balance, April 30, 2009                       $49,301,000
                                                   =============

                    About Refco Inc.

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

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

The Court confirmed the Modified Joint Chapter 11 Plan of
Refco Inc. and certain of its Direct and Indirect Subsidiaries,
including Refco Capital Markets, Ltd., and Refco F/X Associates,
LLC, on December 15, 2006.  That Plan became effective on
December 26, 2006.

Pursuant to the plan, RJM, LLC, was named plan administrator to
reorganized Refco, Inc. and its affiliates, and Marc S. Kirschner
as plan administrator to Refco Capital Markets, Ltd.  (Refco
Bankruptcy News, Issue No. 92; Bankruptcy Creditors' Service
Inc., http://bankrupt.com/newsstand/or 215/945-7000)


SILICON GRAPHICS: Files Initial Monthly Operating Report
--------------------------------------------------------
On May 29, 2009, Silicon Graphics, Inc., and certain other debtor-
in-possession subsidiaries of the Company filed unaudited
unconsolidated monthly operating reports for the period from
April 1, 2009, to April 24, 2009, with the United States
Bankruptcy Court for the Southern District of New York.

Silicon Graphics, Inc.'s schedule of cash receipts and
disbursements showed:

     Cash -- April 1, 2009                 $26,994,973

     Collections of accounts receivable     $2,840,860
     Transfers                               9,026,179
                                           -----------
     Total Receipts                        $11,867,039

     Accounts payable                       $7,479,242
     Payroll                                 5,227,873
                                           -----------
     Total disbursements                   $12,707,115
                                           -----------
     Net cash flow                            $840,076
                                           -----------
     Cash -- April 24, 2009                $26,154,897
                                           ===========

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

Headquartered in Sunnyvale, California, Silicon Graphics Inc. --
http://www.sgi.com/-- delivers an array of server, visualization,
and storage software.

This is the second bankruptcy filing for Silicon Graphics.  The
Debtors first filed for Chapter 11 on May 8, 2006 (Bankr. S.D.
N.Y. Case Nos. 06-10977 through 06-10990).  Gary Holtzer, Esq.,
and Shai Y. Waisman, Esq., at Weil Gotshal & Manges LLP, represent
the Debtors in their restructuring efforts.  The Court confirmed
the Debtors' Plan of Reorganization on September 19, 2006.  When
the Debtors filed for protection from their creditors, they listed
total assets of $369,416,815 and total debts of $664,268,602.

The Company and 14 of its affiliates filed for protection for the
second time on April 1, 2009 (Bankr. S.D. N.Y. Lead Case No.
09-11701).  Mark R. Somerstein, Esq., at Ropes & Gray LLP,
represents the Debtors in their restructuring efforts.  The
Debtors proposed AlixPartners LLC as restructuring advisor;
Houlihan Lokey Howard & Zukin Capital, Inc., as financial advisor;
and Donlin, Recano & Company, Inc., as claims and noticing agent.
When the Debtors filed for protection from their creditors, they
listed $390,462,000 in total assets and $526,548,000 in total
debts as of 2008.


SMURFIT-STONE: Files Monthly Operating Report for April 2009
------------------------------------------------------------

              Smurfit-Stone Container Corporation
                    Combined Balance Sheet
                     As of April 30, 2009

                             ASSETS

Current Assets:
Cash                                              $292,358,000
Receivables                                        611,827,000
Inventories                                        508,176,000
Prepaid expenses and others                         29,339,000
                                                ---------------
    Total current assets                          1,441,700,000

Net property                                      3,414,192,000
Timberlands, less depletion                          31,674,000
Deferred income taxes                                35,204,000
Investments in and advances to non-Debtor            71,801,000
  affiliates
Other assets                                         68,133,000
                                                ---------------
Total assets                                     $5,062,704,000
                                                ===============

                 LIABILITIES & EQUITY (DEFICIT)

Liabilities Not Subject to Compromise:
Current liabilities:
  Current maturities of long-term debt           $1,784,562,000
  Accounts payable                                  269,949,000
  Accrued compensation and payroll taxes            134,540,000
  Interest payable                                    7,553,000
  Income taxes payable                                8,846,000
  Current deferred taxes                             21,052,000
  Other current liabilities                         125,368,000
                                                ---------------
     Total current liabilities                    2,351,870,000

Other long-term liabilities                         124,068,000
                                                ---------------
Total liabilities not subject to compromise       2,475,938,000

Liabilities subject to compromise                 4,209,150,000
                                                ---------------
Total liabilities                                 6,685,088,000

Total stockholders' equity (deficit)             (1,622,384,000)
                                                ---------------
Total liabilities & stockholders' equity         $5,062,704,000
                                                ===============

              Smurfit-Stone Container Corporation
                Combined Statement of Operations
               For the month ended April 30, 2009

Net sales                                          $448,835,000

Costs and expenses:
Cost of goods sold                                  400,456,000
Selling and administrative expenses                  45,317,000
Restructuring charges                                 4,500,000
Gain on disposal of assets                             (218,000)
                                                ---------------
Loss from operations                                 (1,220,000)

Other income (expense):
Interest expense, net                               (24,841,000)
Equity in losses of non-debtor affiliates              (747,000)
Foreign currency exchange losses                     (1,200,000)
Other, net                                               (9,000)
                                                ---------------
Loss before reorganization items and income taxes   (28,017,000)

Reorganization items:
  Professional fees                                  (5,000,000)
  Accounts payable settlement gains                     157,000
                                                ---------------
Reorganizational items, net                          (4,843,000)

Loss before income taxes                            (32,860,000)
Provision for income taxes                             (299,000)
                                                ---------------
Net loss                                           ($33,159,000)
                                                ===============

              Smurfit-Stone Container Corporation
             Schedule of Receipts and Disbursements
               For the month ended April 30, 2009

Beginning cash balance                             $225,782,000

Total receipts                                      580,145,000

Disbursements:
  Payroll & benefits                               (106,770,000)
  Professional fees                                    (562,000)
  Interest                                           (8,422,000)
  Capital expenditures                               (8,857,000)
  Repayment of debt                                  (5,075,000)
  Other disbursements                              (383,883,000)
                                                ---------------
Total disbursements                                (513,569,000)

Ending cash balance                                $292,358,000
                                                ===============

A copy of the Debtors' April Operating Report is available for
free at http://bankrupt.com/misc/SmurfApril09MOR.pdf

Smurfit-Stone Container Corp. -- http://www.smurfit-stone.com/--
is one of the leading integrated manufacturers of paperboard and
paper-based packaging in North America and one of the world's
largest paper recyclers.  The Company operates 162 manufacturing
facilities that are primarily located in the United States and
Canada.  The Company also owns roughly one million acres of
timberland in Canada and operates wood harvesting facilities in
Canada and the United States.  The Company employs approximately
21,250 employees, 17,400 of which are based in the United States.
For the quarterly period ended September 30, 2008, the Company
reported approximately $7.450 billion in total assets and
$5.582 billion in total liabilities on a consolidated basis.

Smurfit-Stone and its U.S. and Canadian subsidiaries filed to
reorganize under Chapter 11 on January 26, 2009 (Bankr. D. Del.
Lead Case No. 09-10235).  Certain of the company's affiliates,
including Smurfit-Stone Container Canada Inc., a wholly owned
subsidiary of SSCE, and certain of its affiliates, filed to
reorganize under the Companies' Creditors Arrangement Act in the
Ontario Superior Court of Justice in Canada.

Smurfit-Stone joined pulp- and paper-related bankruptcies as
rising Internet use hurts magazines and newspapers.  Corporacion
Durango SAB, Mexico's largest papermaker, sought U.S. bankruptcy
in October.  Quebecor World Inc., a magazine printer and Pope &
Talbot Inc., a pulp-mill operator, also sought cross-border
bankruptcies for their operations in the U.S. and Canada.

James F. Conlan, Esq., Matthew A. Clemente, Esq., Dennis M.
Twomey, Esq., and Bojan Guzina, Esq., at Sidley Austin LLP, in
Chicago, Illinois; and Robert S. Brady, Esq., and Edmon L.
Morton, Esq., at Young Conaway Stargatt & Taylor in Wilmington,
Delaware, serve as the Debtors' bankruptcy counsel.
PricewaterhouseCooper LLC, serves as the Debtors' financial and
investment consultants.  Lazard Freres & Co. LLC acts as the
Debtors' investment bankers.  Epiq Bankruptcy Solutions LLC acts
as the Debtors' notice and claims agent.

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


SPECTRUM BRANDS: Monthly Operating Report -- Ended April 26, 2009
-----------------------------------------------------------------

                   Spectrum Brands, Inc.
                 Consolidated Balance Sheet
                   As of April 26, 2009

Cash and cash equivalents                            $5,926,201
Net trade receivables                               162,955,189
Intercompany receivables                                     (1)
Other trade receivables - calc                       13,858,799
Net inventories                                     409,150,598
Assets held for sale                                    316,225
Prepaid expenses & other                             22,556,718
Total deferred tax assets - current                   5,089,747
                                                  -------------
Total current assets                                619,853,476

Net Property, Plant & Equipment                      91,866,897
Long-term receivable                                    110,624
Long-term receivable - intercompany                          (0)
Total deferred tax assets - L/T                               -
Deferred charges - other                              6,836,674
Debt issuance costs                                  19,676,032
Investments - partially owned co.                       808,110
Miscellaneous - other assets                          8,036,489
                                                 --------------
Deferred charges and other, net                      35,467,930
Goodwill                                             60,976,962
Intangible assets - other                           499,257,909
Investments - consolidated co.                               (0)
Investments in subsidiaries                                  (0)
                                                 --------------
Total assets                                     $1,307,423,174
                                                 ==============

Current Liabilities:
Total current debt                                 $168,829,053
Accounts payable - intercompany                              (0)
Total accounts payable                              116,928,874
Accrued wages & benefits                             31,843,635
Accrued taxes O/T Inc. Payroll                        2,992,345
Accrued interest payable                             69,538,924
Current deferred tax liabilities                              -
Income taxes payable                                    145,362
Other accrued expenses                               41,697,805
Wages, benefits and other                           146,218,070
Accrued special charges                              31,392,322
                                                 --------------
Total current liabilities                           463,368,319

Long term debt intercompany                                  (0)
Total long term debt                              2,391,076,408
Total employee benefit obligations                    6,027,647
Total deferred tax liabilities                      130,730,201
Other long-term liabilities                           7,809,574
Minority interest                                             -
Corporate control                                             -
Other liabilities                                   138,539,775
                                                 --------------
Total liabilities                                $2,999,012,149
                                                 ==============
Total equity                                     (1,691,588,975)
                                                 --------------
Total liabilities and equity                     $1,307,423,174
                                                 ==============

                    Spectrum Brands, Inc.
       Consolidated Statement of Income from Operations
           For the period ending April 26, 2009

Net Sales                                          $106,694,248
Cost of goods sold                                   70,422,463
Restructuring and related charges                     4,558,466
                                                   ------------
Gross profit                                         31,713,319

Operating expenses:
Selling                                              14,024,442
General and Administrative                            8,203,458
Research and development                              1,404,037
Restructuring and related charges                     1,486,654
Goodwill and intangibles impairment                           -
                                                   ------------
Total operating expenses                             25,118,591

Operating income                                      6,594,729

Interest expense                                      7,181,979
Other income, net                                     1,895,076
                                                   ------------
Income from continuing operations
before income taxes                                 (2,482,323)

Income tax expense                                    1,276,950
                                                   ------------
Income from continuing operations                    (3,759,273)

Loss from discontinued operations, net                   28,007

Reorganization items                                 10,558,183
                                                   ------------
Net (loss)/income                                  ($14,345,463)
                                                   ============

                     Spectrum Brands, Inc.
               Cash Receipts and Disbursements
             For the period ending April 26, 2009

Cash, beginning of month                             $2,786,822
Receipts:
Cash sales                                                    0
Collections of Accounts receivable                   36,197,840
Loans & advances                                     98,751,811
Sale of assets                                                -
Other                                                63,126,752
                                                 --------------
Total receipts                                      198,076,404
                                                 --------------
Disbursements:
Net payroll                                           2,106,475
Payroll taxes paid                                    1,093,106
Sales, use & other taxes paid                            26,538
Secured/rental/leases                                   813,632
Utilities & telephone                                   356,520
Insurance                                             1,658,584
Inventory purchases                                  26,743,908
Vehicle expenses                                              0
Travel & entertainment                                  315,526
Repairs, maintenance & supplies                         645,782
Administrative & selling                              1,250,455
Adequate protection payment(s)                                0
Other                                               161,618,232
                                                  -------------
Total disbursements from operations                 196,628,763

Professional fees                                       280,657
U.S. Trustee fees                                       124,850
Other reorganization expenses                           840,467

Total Disbursements                                 197,874,738
                                                  -------------
Net cash flow                                           201,665

Cash - end of month                                  $2,988,488
                                                  =============

                      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)



                           *********

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

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

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

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

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

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

The Sunday TCR delivers securitization rating news from the week
then-ending.

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

                           *********

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

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland,
USA.  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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