TCR_Public/090725.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, July 25, 2009, Vol. 13, No. 204

                            Headlines



ACCENTIA BIOPHARMA: Files Monthly Operating Report for June 2009
ACCENTIA BIOPHARMA: Biovest Int'l Files June Operating Report
ALERIS INT'L: Incurs $38.36 Million Loss for Month Ended May 31
BERNARD KOSAR: Records $1,000 Income from June 19 to June 30
CAPITAL CORP: Posts $25,619 Net Loss in June 2009

CARAUSTAR INDUSTRIES: Incurs $197,000 Net Loss for June 2009
CIRCUIT CITY: Incurs $65.4 Million Net Loss for May 2009
CMR MORTGAGE II: Posts $728,007 Net Loss in June 2009
CRUSADER ENERGY: Reports $4 Million Net Loss for June 2009
EDDIE BAUER: Files Initial Monthly Operating Report

FREMONT GENERAL: Posts $20,241,364 Net Loss in June 2009
GREEKTOWN HOLDINGS: Has 434,879 Operating Report for May 2009
INDALEX HOLDINGS: Records $1.7 Million Net Profit for June 2009
LANDAMERICA FINANCIAL: Reports $11,133,000 Net Gain for March
LANDAMERICA FINANCIAL: Records $10.2 Million Net Loss for April

LANDAMERICA FINANCIAL: Reports $9,893,000 Net Loss for May 2009
LANDAMERICA FINANCIAL: Zolfo Copper Mgt. Files Monthly Report
LANDSOURCE COMMUNITIES: Incurs $7,756,452 Profit for May 2009
LEHIGH COAL: Loses $406,000 in June on $835,000 Sales
LEHMAN BROTHERS: Has $10.022 Billion Cash at End of May 2009

LEHMAN BROTHERS: Has $11.125 Billion Cash at End of June 2009
LTV CORP: Files Monthly Operating Report for June 2009
LYONDELL CHEMICAL: Reports $48 Million Net Loss for April 2009
LYONDELL CHEMICAL: Net Loss Widens to $63 Million for May 2009
MASONITE CORP: Incurs $7,556,000 Net Loss for Month Ended May 24

MASONITE CORP: Operating Report for Month Ended June 28
MERUELO MADDUX: Posts $1,808,225 Net Loss in May 2009
MERUELO MADDUX: Posts $2,568,107 Net Loss in June 2009
MUZAK HOLDINGS: Incurs $3.1 Million Net Loss for June 2009
REUNION INDUSTRIES: Earns $471,000 in April 2009

REUNION INDUSTRIES: Posts $128,000 Net Loss in May 2009
SEMGROUP LP: Incurs $9.63 Million Net Loss for May 31
SPECTRUM BRANDS: Records $49.14MM Loss for Month Ended June 28
TOUSA INC: Posts June Loss, Cash Grows Almost $10 Million
TRIBUNE CO: Reports $18.17MM Income for May 2009; Has $702MM Cash



                            *********

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

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

     Funds at beginning of period             $4,735
     Total Receipts                         $237,045
     Total Funds Available for Operations   $241,781
     Total Disbursements                    $208,960
     Funds at June 30, 2009                  $32,821

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

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

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

Accentia BioPharmaceuticals and nine affiliates filed for
Chapter 11 protection on November 10, 2008 (Bankr. M.D. Florida,
Lead Case No. 08-17795).  Charles A. Postler, Esq., and Elena P.
Ketchum, Esq., at Stichter, Riedel, Blain & Prosser, in Tampa,
Florida; and Jonathan B. Sbar, Esq., at Rocke, McLean & Sbar,
P.A., represent the Debtors as counsel.  Adam H. Friedman, Esq.,
at Olshan Grundman Frome Rosenzweig, and Paul J. Battista, Esq.,
at Genovese Joblove & Battista PA, represent the official
committee of unsecured creditors as counsel.  In their bankruptcy
petition, the Debtors listed assets of $134,919,728 and debts of
$77,627,355 as of June 30, 2008.


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

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

     Funds at beginning of period           $286,506
     Total Receipts                         $256,151
     Total Funds Available for Operations   $542,658
     Total Disbursements                    $515,773
     Funds at June 30, 2009                  $26,884

A full-text copy of Biovest International Inc. and its debtor-
affiliates' monthly operating report for June 2009 is
available for free at http://researcharchives.com/t/s?3fd9

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

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

Accentia BioPharmaceuticals and nine affiliates filed for
Chapter 11 protection on November 10, 2008 (Bankr. M.D. Florida,
Lead Case No. 08-17795).  Charles A. Postler, Esq., and Elena P.
Ketchum, Esq., at Stichter, Riedel, Blain & Prosser, in Tampa,
Florida; and Jonathan B. Sbar, Esq., at Rocke, McLean & Sbar,
P.A., represent the Debtors as counsel.  Adam H. Friedman, Esq.,
at Olshan Grundman Frome Rosenzweig, and Paul J. Battista, Esq.,
at Genovese Joblove & Battista PA, represent the official
committee of unsecured creditors as counsel.  In their bankruptcy
petition, the Debtors listed assets of $134,919,728 and debts of
$77,627,355 as of June 30, 2008.


ALERIS INT'L: Incurs $38.36 Million Loss for Month Ended May 31
---------------------------------------------------------------
                Aleris International, Inc., Et Al.
                   Consolidated Balance Sheet
                       As of May 31, 2009

ASSETS
Current Assets:
  Cash and cash equivalents                        $17,218,162
  Accounts receivable, net                         102,927,717
  Intercompany Receivable                          125,151,250
  Net Inventories                                  114,303,010
  Other current assets                              65,896,836
                                               ---------------
Total current assets                               425,496,975

Property, plant and equipment, net                 331,044,345
Goodwill & Org. Costs, Net                          79,776,473
Other Intangibles, Net                              59,695,318
Total Long Term Intercompany Receivable             57,521,745
Other Long-Term Assets                           1,485,653,873
                                               ---------------
Total L/T Assets                                 2,013,691,754
                                               ---------------
                                                $2,439,188,729
                                               ===============

LIABILITIES & SHAREHOLDERS' EQUITY
Current Liabilities:
  Accounts payable                                 $39,967,949
  Accrued & Other Current Liabilities               53,602,969
  Toll Liability                                     7,810,932
  Accrued Interest                                   8,618,044
  Total current Interco Payable                     22,373,243
  Current Maturities of L/T Debt                   756,703,259
  Other current liabilities                          6,834,709
                                               ---------------
Total current liabilities                          895,911,105
Total Long-term debt                                    22,591
Intercompany payable                               (57,244,075)
Other long-term liabilities                         59,019,686
                                               ---------------
Total Long-term liabilities                          1,798,202
Liabilities subject to compromise-external       1,710,148,574
Liabilities subject to compromise-internal         490,457,853
                                               ---------------
Total Liabilities Subject to Compromise          2,200,606,427
                                               ---------------
Total Liabilities                                3,098,315,734

Additional paid-in Capital                         856,477,840
Retained earnings                               (1,468,005,218)
Total other comprehensive income(loss)             (47,599,627)
Other stockholders' equity                                   0
                                               ---------------
Total Liabilities and Stockholders' Equity      $2,439,188,729
                                               ===============

               Aleris International, Inc., Et Al.
              Consolidated Statement of Operations
         For the Period From May 1 through May 31, 2009

Gross Revenue                                      $89,994,000
Total costs of sales                                78,663,000
                                               ---------------
Gross profits                                       11,331,000
Selling, general and administrative:
Labor                                                3,444,000
Professional fees                                      184,000
Consulting expense                                     101,000
Depreciation & Amortization                            810,000
Other                                                1,914,000
                                               ---------------
Total SG&A Expense                                   6,453,000
Restructuring & Merger-related items                   591,000
(Gains) losses on Derivatives                       (5,057,000)
                                               ---------------
Operating Income (loss)                              9,344,000
Net Interest Expense                                28,594,000
Other Income and Expense                            13,256,000
Reorganization Items                                 7,040,000
                                               ---------------
Income before taxes                                (39,546,000)
Income Tax Expenses                                 (1,193,000)
                                               ---------------
Net Income                                         (38,353,000)
                                               ===============

               Aleris International, Inc., Et Al.
                  Consolidated Schedule of
               Cash Receipts and Disbursements
        For the Period From May 1 through May 31, 2009

Receipts
Cash Sales                                                  $0
Accounts Receivable                                 86,176,335
Affiliates                                          12,524,396
Sale of Assets                                               0
Other                                                  663,991
Transfer (From DIP Accts)                           87,900,260
                                               ---------------
Total Receipts                                     187,264,982

Disbursements
Benefits                                             4,302,182
Payroll                                             13,155,433
Primary                                             14,744,335
Recycling/Scrap                                     19,887,232
Hardners                                             2,078,683
Flux                                                   993,379
Insurance                                            1,256,977
MRO                                                  7,699,548
Freight                                              3,533,789
Energy                                               3,800,880
Taxes                                                  313,411
By Product                                             705,184
Capex                                                  461,960
Other accounts payable                               3,940,586
U.S. Trustee Fees                                      201,700
Chapter 11 professional fees                         2,363,256
Chapter 11 adjustments                                       0
Collateral Returns                                           0
Collateral Disbursements                                     0
Hedge Premiums                                       5,964,800
Affiliates                                                   0
Interest & Fees                                      4,957,352
Extraordinaries                                              0
Other                                                   53,921
Transfers (To DIP Accts)                           102,949,852
                                               ---------------
Total Disbursements                                193,364,461
                                               ---------------
Net Cash Flow                                      ($6,099,479)
                                               ===============

                    About Aleris International

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

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

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


BERNARD KOSAR: Records $1,000 Income from June 19 to June 30
---------------------------------------------------------
Former professional football quarterback Bernard Kosar said in
a court filing that his personal business income was $1,000
from the time he entered bankruptcy until the end of the month,
Bill Rochelle at Bloomberg News said.  The income came from an
appearance on "The Drew Carey Show."

Bernie J. Kosar, Jr., is a former Cleveland Browns and
University of Miami quarterback.  He lives in the Fort
Lauderdale suburb of Weston.

Mr. Kosar filed for Chapter 11 on June 19, 2009 (Bankr. S.D.
Fla. Case No. 09-22371).  Julianne R. Frank, Esq., represents
Mr. Kosar.  His petition listed assets of $9.1 million against
debt totaling $18.9 million.   A list of the Company's 20
largest unsecured creditors is available for free at:

           http://bankrupt.com/misc/flsb09-22371.pdf


CAPITAL CORP: Posts $25,619 Net Loss in June 2009
-------------------------------------------------
Capital Corp of the West filed its monthly report of operations
for the month ended June 30, 2009, on July 13, 2009, with the
United States Bankruptcy Court for the Eastern District of
California, Fresno Division.

Capital Corp posted a net loss of $25,619 on total refunds of
$32,000 for June 2009.

As of June 30, 2009, Capital Corp had $6,684,645 in total assets,
$57,734,000 in total liabilities, resulting in a $51,049,354
equity deficit.

A full-text copy of Capital Corp's June 2009 monthly operating
report is available at http://researcharchives.com/t/s?3fe2

                  About Capital Corp of the West

Capital Corp of the West is a bank holding company, whose primary
asset and source of income is County Bank of Merced.  The Bank is
a community bank with operations located mainly in the San Joaquin
Valley of Central California with additional business banking
operations in the San Francisco Bay Area.  The corporate
headquarters of the Company and the Bank's main branch facility
are located at 550 West Main Street, Merced, California.

County Bank was closed February 6, 2009, by the California
Department of Financial Institutions, which appointed the Federal
Deposit Insurance Corporation as receiver.  To protect the
depositors, the FDIC entered into a purchase and assumption
agreement with Westamerica Bank, based in San Rafael, California,
to assume all of the deposits of County Bank.  As of February 2,
2009, County Bank had total assets of approximately $1.7 billion
and total deposits of $1.3 billion.  In addition to assuming all
of the failed bank's deposits, including those from brokers,
Westamerica Bank agreed to purchase all of County Bank's assets.

Capital Corp of the West filed for bankruptcy on May 11, 2009
(Bankr. E.D. Calif. Case No. 09-14298).  Judge W. Richard Lee
presides over the case.  Paul J. Pascuzzi, Esq., at Felderstein
Fitzgerald Willoughby & Pascuzzi, serves as the Debtor's
bankruptcy counsel.  As of September 30, 2008, Capital Corp of
the West had $1.87 million in total assets, $1.80 million in total
liabilities and shareholders' equity of $73,896.  In its Chapter
11 petition, the Company disclosed $6,789,058 in total assets and
$68,096,190 in total debts.


CARAUSTAR INDUSTRIES: Incurs $197,000 Net Loss for June 2009
------------------------------------------------------------
Caraustar Industries Inc. reported a $197,000 net loss and a
$197 loss from operations in June on sales of $16.9 million, Bill
Rochelle at Bloomberg News said.

Creditors are voting on the plan in anticipation of an Aug. 5
confirmation hearing.  According to the Troubled Company Reporter
on July 7, 2009, the Court approved the disclosure statement to
Caraustar Industries Inc.'s pre-negotiated Chapter 11 plan, paving
the way for the Plan to go to creditors for voting.

Pre-bankruptcy, Caraustar reached agreement with holders of
approximately 83% of its 7-3/8% Senior Notes maturing June 1,
2009, and 91% of its 7-1/4% Senior Notes maturing May 1, 2010, on
the terms of a Chapter 11 restructuring that would reduce the
company's debt obligations by approximately $135 million.

Under the Chapter 11 plan, the Company's common stock holders will
receive their pro rata share of $2.9 million, or about 10 cents
per share, subject to certain conditions, the Company said.
Further, the Company's existing Senior Notes will be exchanged for
an aggregate of $85 million in new Senior Secured Notes and 100%
of the common stock of the reorganized company.  Unsecured
creditors will receive full recovery.

The reorganized company is expected to emerge as a private entity
with Wayzata Investment Partners LLC becoming the Company's
controlling shareholder, Caraustar stated.

A full-text copy of the supplement to the amended Chapter 11 plan
is available for free at http://ResearchArchives.com/t/s?3fd1

                    About Caraustar Industries

Headquartered in Austell, Georgia, Caraustar Industries, Inc. --
http://www.caraustar.com/-- is one of North America's largest
integrated manufacturers of 100% recycled paperboard and converted
paperboard products.  Caraustar serves the four principal recycled
boxboard product end-use markets: tubes and cores; folding
cartons; gypsum facing paper and specialty paperboard products.

Caraustar reached an agreement with holders of roughly 83% of its
7-3/8% Senior Notes maturing June 1, 2009, and 91% of its 7-1/4%
Senior Notes maturing May 1, 2010, on the terms of a cooperative
financial restructuring that would reduce the Company's debt
obligations by roughly $135 million.

The Company and its domestic subsidiaries filed voluntary Chapter
11 petitions along with a pre-negotiated Plan of Reorganization in
the United States Bankruptcy Court for the Northern District of
Georgia on May 31, 2009 (Bankr. N.D. Ga. Lead Case No. 09-73830).
James A. Pardo, Jr., Esq., and Mark M. Maloney, Esq., at King &
Spalding represent the Debtors on their restructuring efforts.
The Debtors listed $50 million to $100 million in assets and
$100 million to $500 million in debts.


CIRCUIT CITY: Incurs $65.4 Million Net Loss for May 2009
--------------------------------------------------------

               Circuit City Stores, Inc., et al.
                         Balance Sheet
                       As of May 31, 2009

                             ASSETS

Current Assets
Cash and cash equivalents                         $57,068,000
Restricted cash                                     3,770,000
Cash held by Bank of America                      227,113,000
Short-term investments                                870,000
Accounts receivable, net                          470,361,000
Income tax receivable                              75,657,000
Prepaid expenses and other current assets          12,638,000
Intercompany receivables and investments          521,911,000
   in subsidiaries
                                                --------------
Total Current Assets                             1,369,388,000

Property and Equipment                              39,887,000
Accumulated depreciation                           (18,247,000)
                                                --------------
Net Property and Equipment                         21,640,000

Other Assets                                         7,353,000
                                                --------------
TOTAL ASSETS                                    $1,398,381,000
                                                ==============

              LIABILITIES AND STOCKHOLDERS' EQUITY

Current Liabilities
Merchandise payable                              $210,871,000
Expenses payable                                   30,963,000
Accrued expenses and other current                 37,580,000
   liabilities
Accrued compensation                                  313,000
Intercompany payables                                 607,000
Accrued income taxes                                  429,000
                                                --------------
Total Current Liabilities                          280,763,000

Deferred income taxes                                7,084,000
Other Liabilities                                       10,000
                                                --------------
Liabilities Not Subject to Compromise              287,857,000

Liabilities Subject to Compromise                1,413,555,000
                                                --------------
Total Liabilities                                1,701,412,000

Stockholders' Equity
Common stock                                      435,612,000
Additional paid-in capital                        304,915,000
Retained deficit                               (1,015,899,000)
Accumulated other comprehensive income            (27,659,000)
                                                --------------
Total Stockholders' Equity                        (303,031,000)
                                                --------------
Total Liabilities & Shareholders' Deficit       $1,398,381,000
                                                ==============

               Circuit City Stores, Inc., et al.
                        Income Statement
                For the Month Ended May 31, 2009

Net sales                                                   $0
Cost of sales, buying and warehousing                        0
                                                --------------
Gross profit (loss)                                          0

Selling, general and administrative expenses         3,501,000
                                                --------------
Operating income                                      3,501,000

Interest income                                              0
Interest expense                                             0
                                                --------------
Earnings before reorganization items, GAAP           3,501,000
reversals and income taxes

Net loss from reorganization items                  (2,838,000)
Net loss from GAAP reversals                       (65,885,000)
Income tax expense                                    (140,000)
                                                --------------
NET LOSS                                          ($65,362,000)
                                                ==============

                    About Circuit City Stores

Headquartered in Richmond, Virginia, Circuit City Stores Inc.
(NYSE: CC) -- http://www.circuitcity.com/-- was a specialty
retailer of consumer electronics, home office products,
entertainment software and related services in the U.S. and
Canada.

Circuit City Stores together with 17 affiliates filed a voluntary
petition for reorganization relief under Chapter 11 of the
Bankruptcy Code on November 10 (Bankr. E.D. Va. Lead Case No. 08-
35653). InterTAN Canada, Ltd., which runs Circuit City's Canadian
operations, also sought protection under the Companies' Creditors
Arrangement Act in Canada.

Gregg M. Galardi, Esq., and Ian S. Fredericks, Esq., at Skadden,
Arps, Slate, Meagher & Flom, LLP, are the Debtors' general
restructuring counsel.  Dion W. Hayes, Esq., and Douglas M. Foley,
Esq., at McGuireWoods LLP, are the Debtors' local counsel.  The
Debtors also tapped Kirkland & Ellis LLP as special financing
counsel; Wilmer, Cutler, Pickering, Hale and Dorr, LLP, as special
securities counsel; and FTI Consulting, Inc., and Rotschild Inc.
as financial advisors.  The Debtors' Canadian general
restructuring counsel is Osler, Hoskin & Harcourt LLP.  Kurtzman
Carson Consultants LLC is the Debtors' claims and voting agent.
The Debtors disclosed total assets of $3,400,080,000 and debts of
$2,323,328,000 as of Aug. 31, 2008.

Circuit City has opted to liquidate its 721 stores.  It has
obtained the Bankruptcy Court's approval to pursue going-out-of-
business sales, and sell its store leases.

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


CMR MORTGAGE II: Posts $728,007 Net Loss in June 2009
-----------------------------------------------------
On July 16, 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 June 30, 2009.

The Company reported a net loss of $728,007 on total revenues of
$20,188 for the month of June 2009.

At June 30, 2009, the Debtor had total assets of $72,924,153,
total liabilities of $34,817,815 and total equity of $38,106,338 .

A full-text copy of the Debtor's monthly operating report for
June 2009 is available at http://researcharchives.com/t/s?3fe3

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 between $10 million and $50 million
each in assets and debts.


CRUSADER ENERGY: Reports $4 Million Net Loss for June 2009
-------------------------------------------------------
Crusader Energy Group Inc. reported a $4 million net loss in
June on net revenue of $4.9 million, Bill Rochelle at Bloomberg
News reported.  According to the report, the gross profit for
the month was $3.6 million.  Expenses included $2.8 million in
interest along with depreciation and depletion of $2.7 million.

Based in Oklahoma City, Oklahoma, Crusader Energy Group Inc. --
http://www.ir.crusaderenergy.com/-- explores, develops and
acquires oil and gas properties, primarily in the Anadarko
Basin, Williston Basin, Permian Basin, and Fort Worth Basin in
the United States.  It has working interests in more than 1,000
wells.

Crusader Energy and its affiliates filed for Chapter 11
protection on March 30, 2009 (Bankr. N.D. Tex. Lead Case No.
09-31797).  The Debtors' financial condition as of
September 30, 2008, showed total assets of $749,978,331 and
total debts of $325,839,980.

Beth Lloyd, Esq., Richard H. London, Esq., and William Louis
Wallander, Esq., at Vinson & Elkins, L.L.P., represent the
Debtors as counsel.  Holland N. Oneil, Esq., Michael S. Haynes,
Esq., and Richard McCoy Roberson, Esq., at Gardere, Wynne &
Sewell, represent the official committee of unsecured creditors
as counsel.


EDDIE BAUER: Files Initial Monthly Operating Report
---------------------------------------------------
On July 6, 2009, Eddie Bauer Holdings, Inc., filed with the U.S.
Bankruptcy Court for the District of Delaware its initial monthly
operating report.

The Company submitted cash flow projections for the three month
period: June 2009 through August 2009.

     Cash Beginning of Period           $701,000
     Total Receipts                 $231,565,000
     Total Disbursements            $228,666,000
     Net Cash Flow                    $2,899,000
     Cash End of Period               $3,600,000

In the report, the Company said that due to the sale process and
its unknown impact to operations, the Debtors do not currently
have a sufficient basis on which to project monthly cash flows
beyond August.

A full-text copy of the Company's initial monthly operating report
is available at http://researcharchives.com/t/s?3fe1

Established in 1920 in Seattle, Washington, Eddie Bauer is a
specialty retailer that sells outerwear, apparel and accessories
for the active outdoor lifestyle.  The Eddie Bauer brand is a
nationally recognized brand that stands for high quality,
innovation, style and customer service.  Eddie Bauer products are
available at 371 stores throughout the United States and Canada,
through catalog sales and online at http://www.eddiebauer.com/
Eddie Bauer participates in a joint venture in Japan and has
licensing agreements across a variety of product categories.

Eddie Bauer, Inc., was a subsidiary of Spiegel, Inc.  Eddie Bauer
Inc. emerged from Spiegel's 2003 Chapter 11 case as a separate,
reorganized entity under the control and ownership of Eddie Bauer
Holdings, Inc.

Eddie Bauer Holdings, Inc., and eight affiliates filed for
bankruptcy on June 17, 2009 (Bankr. D. Del. Lead Case No.
09-12099).  Judge Mary F. Walrath presides over the case.  David
S. Heller, Esq., Josef S. Athanas, Esq., and Heather L. Fowler,
Esq., at Latham & Watkins LLP, serve as the Debtors' general
counsel.  Kara Hammond Coyle, Esq., and Michael R. Nestor, Esq.,
at Young Conaway Stargatt & Taylor LLP, serve as local counsel.
The Debtors' restructuring advisors are Alvarez and Marsal North
America LLC.  Their financial advisors are Peter J. Solomon
Company.  Kurtzman Carson Consultants LLC acts as claims and
notice agent.  As of April 4, 2009, Eddie Bauer had $525,224,000
in total assets and $448,907,000 in total liabilities.


FREMONT GENERAL: Posts $20,241,364 Net Loss in June 2009
--------------------------------------------------------
On July 15, 2009, Fremont General Corporation filed its monthly
operating report for the month ended June 30, 2009, with the
United States Trustee for the Central District of California,
Santa Ana Division.

Fremont General reported total assets of $465,023,934, total
liabilities of $352,353,840, and total equity of $112,670,094 at
June 30, 2009.

For the month, the Debtors reported a net loss of $20,241,364 and
generated zero revenues.

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

               http://researcharchives.com/t/s?3fe0

                     About Fremont General

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

Fremont General filed for Chapter 11 protection on June 18, 2008,
(Bankr. C.D. Calif. Case No. 08-13421).  Robert W. Jones, Esq.,
and J. Maxwell Tucker, Esq., at Patton Boggs LLP, Theodore
Stolman, Esq., Scott H. Yun, Esq., and Whitman L. Holt, Esq., at
Stutman Treister & Glatt, represent the Debtor as counsel.
Kurtzman Carson Consultants LLC is the Debtor's Noticing
Agent and Claims Processor.  Lee R. Bogdanoff, Esq., Jonathan S.
Shenson, Esq., and Brian M. Metcalf, at Klee, Tuchin, Bogdanoff &
Stern LLP, represent the Official Committee of Unsecured
Creditors as counsel.  The Debtor filed with the Court an amended
schedule of its assets and liabilities on October 30, 2008,
disclosing $330,036,435 in total assets and $326,560,878 in total
debts.


GREEKTOWN HOLDINGS: Has 434,879 Operating Report for May 2009
-------------------------------------------------------------

                    Greektown Holdings, LLC
                         Balance Sheet
                       As of May 31, 2009

Assets
Cash                                                       $0
Inventory
Accounts receivable
Insider Receivables                                 3,442,586

Property and Equipment
Land and buildings                                          0
  Furniture, fixtures and equipment                          0

Other Assets
Financing Fees                                              0
Notes receivables from affiliates                 474,566,113
Investments in affiliate                          (16,094,668)
                                                --------------
Total Assets                                      $461,914,031
                                                ==============

Liabilities and Stockholder's Equity
Postpetition liabilities:
Accounts payable                                           $0
Rent and lease payable                                 80,000
Wages and salaries                                          0
Taxes payable                                               0
Other                                               1,350,000
                                                --------------
Total postpetition liabilities                      1,430,000

Secured liabilities subject to postpetition
collateral or financing order                     160,600,348
All other secured liabilities                      313,965,764
                                                --------------
Total secured liabilities                         474,566,113

Prepetition liabilities:
Taxes and other priority liabilities                        0
Unsecured liabilities                             226,851,305
Discount on bonds                                           0
                                                --------------
Total prepetition liabilities                     226,851,305

Kewadin equity                                     (99,399,607)
Monroe equity                                      (87,697,011)
Owner's capital                                        488,947
Retained earnings prepetition                      116,601,907
Retained earnings postpetition                    (170,927,623)
                                                --------------
Total stockholders' equity                       (240,933,387)
Total liabilities                                 702,847,418
                                                --------------
Total Liabilities & Shareholders' Deficit         $461,914,031
                                                ==============

                    Greektown Holdings, LLC
                        Income Statement
                For the month ended May 31, 2009

Total revenue/sales                                         $0
Cost of sales                                                0
                                                --------------
Gross profit                                                 0

Operating Expenses
Interest expense                                    1,657,292
Accounting fees - credit                                    0
                                                --------------
Total expenses                                      1,657,292

Net operating profit/(loss)
Add: Non-operating income                                    0
   Interest income                                           0
   Other income                                              0

Less: Non-operating expenses                                 0
                                                --------------
Net Income (Loss)                                  ($1,657,292)
                                                ==============

                    Greektown Holdings, LLC
                      Cash Flow Statement
               For the month ended May 31, 2009

Cash - beginning of month                                   $0

Receipts                                                    0
Balance available                                           0
                                                --------------
Less disbursements                                          0
                                                --------------
Cash - end of month                                         $0
                                                ==============

                      Greektown Casino LLC
                         Balance Sheet
                       As of May 31, 2009

Assets
Cash                                              $25,575,710
Inventory                                             576,245
Accounts receivable                                 4,966,973
Insider Receivables                                         0

Property and Equipment
Land and buildings                                525,324,812
Furniture, fixtures and equipment                  90,794,430
Accumulated depreciation                         (140,169,749)
Other current                                      17,987,455
Other long term                                    15,756,515
                                                --------------
Total Assets                                      $540,812,391
                                                ==============

Liabilities and Stockholder's Equity
Postpetition liabilities:
Accounts payable                                  $20,232,576
Notes payable                                       2,910,909
Rent and lease payable                                      0
Wages and salaries                                  3,967,706
Taxes payable                                         887,746
Other                                                 234,760
                                                --------------
Total postpetition liabilities                     28,233,697

Secured liabilities subject to postpetition
collateral or financing order                     160,600,348
All other secured liabilities                      313,965,764
                                                --------------
Total secured liabilities                         474,566,113

Prepetition liabilities:
Taxes and other priority liabilities                1,209,025
Unsecured liabilities                              49,388,507
Other                                               3,509,719
                                                --------------
Total prepetition liabilities                      54,107,250

Equity                                             47,646,499
Owner's capital                                             0
Retained earnings prepetition                      82,744,007
Retained earnings postpetition                   (146,485,175)
                                                --------------
Total stockholders' equity                        (16,094,669)
Total liabilities                                 556,907,060
                                                --------------
Total Liabilities & Shareholders' Deficit         $540,812,391
                                                ==============

                      Greektown Casino LLC
                        Income Statement
                For the month ended May 31, 2009

Total revenue/sales                                $32,240,677
Cost of sales                                        2,836,999
                                                --------------
Gross profit                                        29,403,679
Operating Expenses
Officer compensation                                   32,789
Salary expenses, other employees                    4,904,025
Employees benefits & pensions                       2,215,062
Payroll taxes                                         579,002
Other taxes                                           536,162
Rent and lease expense                                 10,800
Interest expense                                    6,013,119
Insurance                                             225,111
Automobile & truck expense                                  0
Utilities                                             366,009
Depreciation                                        1,030,997
Travel and entertainment                                1,298
Repairs and maintenance                                59,489
Advertising                                           659,248
Supplies, office expense, etc.                         12,542
Gaming taxes                                        7,915,181
G&A expenses                                        2,569,105
F&B expenses                                          996,655
MGCB Fee                                              833,605
Parking/other                                           8,600
Pre-opening expenses                                        0
                                                --------------
Total expenses                                     28,968,800

Net operating profit/(loss)                           434,879
Add: Non-operating income:
     Interest income                                    36,103
     Other income                                            0

Less: Non-operating expenses                                0
      Professional fees                              1,287,427
      Other                                            100,000
                                                --------------
Net Income/Loss                                      ($916,446)
                                                ==============

                      Greektown Casino LLC
                       Cash Flow Statement
                For the month ended May 31, 2009

Cash - beginning of month                          $10,215,545

Receipts                                           29,829,894
Balance available                                  40,045,439
                                                --------------
Less disbursements                                 30,747,187
                                                --------------
Cash - end of month                                 $9,298,252
                                                ==============

                      About Greektown Casino

Based in Detroit, Michigan, Greektown Holdings, LLC, and its
affiliates -- http://www.greektowncasino.com/-- operates
world-class casino gaming facilities located in Detroit's
historic Greektown district featuring more than 75,000 square
feet of casino gaming space with more than 2,400 slot machines,
over 70 tables games, a 12,500-square foot salon dedicated to
high limit gaming and the largest live poker room in the
metropolitan Detroit gaming market.  Greektown Casino employs
approximately 1,971 employees, and estimates that it attracts
over 15,800 patrons each day, many of whom make regular visits to
its casino complex and related properties.  In 2007, Greektown
Casino achieved a 25.6% market share of the metropolitan Detroit
gaming market.  Greektown Casino has also been rated as the "Best
Casino in Michigan" and "Best Casino in Detroit" numerous times
in annual readers' polls in Detroit's two largest newspapers.

The Company and seven of its affiliates filed for Chapter 11
protection on May 29, 2008 (Bankr.E.D.Mich. Lead Case No.
08-53104).  Daniel J. Weiner, Esq., Michael E. Baum, Esq., and
Ryan D. Heilman, Esq., at Schafer and Weiner PLLC, represent the
Debtors in their restructuring efforts.  Judy B. Calton, Esq., at
Honigman Miller Schwartz and Cohn LLP, represents the Debtors as
their special counsel.  The Debtors chose Conway MacKenzie &
Dunleavy as their financial advisor, and Kurtzman Carson
Consultants LLC as claims, noticing, and balloting agent.  When
the Debtor filed for protection from its creditors, it listed
consolidated estimated assets and debts of $100 million to
$500 million.

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


INDALEX HOLDINGS: Records $1.7 Million Net Profit for June 2009
------------------------------------------------------------
According to Bill Rochelle at Bloomberg News, Indalex Holdings
Finance Corp. reported a $1.7 million net profit for the period
ended June 28 on net revenue of $32.1 million.  The gross
profit was $3.3 million.

Indalex, Bloomberg relates, was recently authorized to sell its
U.S. business to Sapa Holding AB for $90.1 million and the
Canadian operations for an additional $30.7 million.

Indalex Holding Corp., a wholly-owned subsidiary of Indalex
Holdings Finance Inc., through its operating subsidiaries
Indalex Inc. and Indalex Ltd., with headquarters in
Lincolnshire, Illinois, is the second largest producer of soft
alloy extrusion products in North America.  The Company's
aluminum extrusion products are widely used throughout
industrial, commercial, and residential applications and are
customized to meet specific end-user requirements.  Indalex
operates 10 extrusion facilities, 29 extrusion presses with
circle sizes up to 20 inches, a variety of fabrication and
close tolerance capabilities, two anodizing operations, two
billet casting facilities, and six electrostatic paint lines,
including powder coat capability.

Indalex is indirectly controlled by private-equity investor Sun
Capital Partners Inc.  Sun Capital purchased Indalex in 2005
from Honeywell International Inc. for $425 million.  Indalex is
the 12th investment by Boca Raton, Florida-based Sun Capital to
file in Chapter 11 since January 2006.

Indalex Holdings and four affiliates filed for Chapter 11 on
March 20 (Bankr. D. Del., Lead Case No. 09-10982).  Donald J.
Bowman, Jr., Esq., at Young, Conaway, Stargatt & Taylor, in
Wilmington, Delaware, has been tapped as counsel.  Epiq
Bankruptcy Solutions LLC is the claims and noticing agent.  In
its bankruptcy petition, Indalex listed assets of $356 million
against debt totaling $456 million.


LANDAMERICA FINANCIAL: Reports $11,133,000 Net Gain for March
-------------------------------------------------------------
                 LandAmerica Financial Group, Inc.
                          Balance Sheet
                      As of March 31, 2009

Assets

  Cash                                        $104,122,000
  Notes:
     Fidelity National Title                    50,000,000
     Other                                      12,975,000

  Investments:
     Fidelity National Title stock              71,283,000

  Taxes receivable                              21,856,000
  Property and equipment                        15,767,000
  Title Plans                                      945,000
  Other assets                                  64,869,000
  Investments in subsidiaries and
     consolidated joint ventures               684,298,000
  Intercompany receivable                      244,787,000
                                           ---------------
     Total Assets                           $1,270,904,000
                                           ===============

Liabilities

  Accounts payable and accrued
     liabilities                                20,750,000
  Liabilities subject to compromise            493,737,000
                                           ---------------
     Total Liabilities                         514,487,000
     Total Shareholders' Equity                756,417,000
                                           ---------------
     Total Liabilities and
        Shareholders' Equity                $1,270,904,000
                                           ===============

               LandAmerica Financial Group, Inc.
                    Statement of Operations
               For the month ended March 31, 2009

Revenue:
  Investment and other income                     $217,000
  Valuation adjustment related to
     Fidelity National Title Stock              18,647,000
                                           ---------------
     Total Revenue                             $18,864,000
                                           ---------------

Expenses
  General, administrative and other expenses     3,649,000
  Depreciation and amortization                    328,000
  Gain on disposal of subsidiaries                   6,000
                                           ---------------
     Total Expenses                              3,984,000
                                           ---------------
     Net Gain before income taxes               14,880,000

  Income tax benefit                             3,747,000
                                           ---------------
     Net Gain                                  $11,133,000
                                           ===============

Loss on disposal of subsidiaries is related to the sale on
certain subsidiaries to Fidelity National Title Insurance Company
as part of the Asset Purchase Agreement

                LandAmerica Financial Group, Inc.
          Schedule of Cash Receipts and Disbursements
                 For Month Ended March 31, 2009

Operating Cash and Cash Equivalents

Held for the benefit;
  LandAmerica Financial Group, Inc.            $76,016,000
  Underwriters                                   7,872,000
  Retained Subsidiaries                         16,360,000
                                           ---------------
     Opening Cash                              100,248,000
                                           ---------------

Cash Receipts

  Collection received for the
  benefit of;
     Underwriters                                2,003,000
     Retained subsidiaries                       1,303,000

  Payment reimbursements by;
     Underwriters                               30,731,000
     Retained Subsidiaries                      16,277,000

  Proceeds from sale of the
  Underwriting business;
     LandAmerica Financial Group, Inc.                   0
     Retained Subsidiaries                               0

  Other Receipts                                   906,000
                                           ---------------
     Total Receipts                             51,221,000
                                           ---------------

Cash Disbursement

  Related to LFG
     Payroll                                     1,291,000
     Rent & other occupancy costs                  510,000
     Insurance                                     190,000
     Leases                                        135,000
     Payables                                      114,000
     Bankruptcy Professional Fees                2,516,000
     Others                                        279,000
                                           ---------------
     Total                                       5,033,000
                                           ---------------
  Payments made for the benefit of;
     Underwriters                               28,828,000
     Retained subsidiaries                      13,484,000
                                           ---------------
     Total Disbursements                        47,346,000

Net Cash Flow                                    3,875,000
                                           ---------------
Ending Cash and Cash Equivalents              $104,122,000
                                           ===============

Ending Cash and Cash Equivalents

  Held for the benefit;
     LandAmerica Financial Group, Inc.         $71,889,000
     Underwriters                               11,778,000
     Retained subsidiaries                      20,455,000
                                           ---------------
     Total                                    $104,122,000
                                           ===============

                 About LandAmerica Financial Group

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

LandAmerica Financial Group and its affiliate LandAmerica 1031
Exchange Services, Inc., filed for Chapter 11 protection
November 26, 2008 (Bankr. E.D. Va. Lead Case No. 08-35994).  Dion
W. Hayes, Esq., and John H. Maddock III, Esq., at McGuireWoods
LLP are the Debtors' bankruptcy counsel.

In its bankruptcy petition, LFG listed total assets of
$3,325,100,000, and total debts of $2,839,800,000 as of
September 30, 2008.

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

Bankruptcy Creditors' Service, Inc., publishes LandAmerica
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by LandAmerica Financial and its affiliate LandAmerica
1031 Exchange Services, Inc. (http://bankrupt.com/newsstand/or
215/945-7000)


LANDAMERICA FINANCIAL: Records $10.2 Million Net Loss for April
---------------------------------------------------------------

                LandAmerica Financial Group, Inc.
                         Balance Sheet
                     As of April 30, 2009

Assets

  Cash                                         $87,978,000
  Notes:
     Fidelity National Title                    50,000,000
     Other                                      12,957,000

  Investments:
     Fidelity National Title stock              66,900,000

  Taxes receivable                              21,856,000
  Property and equipment                        15,442,000
  Title Plans                                      945,000
  Other assets                                  64,230,000
  Investments in subsidiaries and
     consolidated joint ventures               684,298,000
  Intercompany receivable                      256,234,000
                                           ---------------
     Total Assets                           $1,260,840,000
                                           ===============

Liabilities

  Accounts payable and accrued
     liabilities                               $22,948,000
  Liabilities subject to compromise            493,917,000
                                           ---------------
     Total Liabilities                         516,865,000
     Total Shareholders' Equity                743,975,000
                                           ---------------
     Total Liabilities and
        Shareholders' Equity                $1,260,840,000
                                           ===============

              LandAmerica Financial Group, Inc.
                    Statement of Operations
             For the month ended April 30, 2009

Revenue:
  Investment and other income                     $628,000
  Valuation adjustment related to
     Fidelity National Title Stock              (4,384,000)
                                           ---------------
     Total Revenue                             ($3,756,000)
                                           ---------------

Expenses
  General, administrative and other expenses     3,112,000
  Depreciation and amortization                    326,000
  Interest Expense                                       0
  Gain on disposal of subsidiaries               3,013,000
                                           ---------------
     Total Expenses                              6,451,000
                                           ---------------
     Net Loss before income taxes              (10,207,000)

  Income tax benefit                                     0
                                           ---------------
     Net Loss                                 ($10,207,000)
                                           ===============

Loss on disposal of subsidiaries is related to the sale on
certain subsidiaries to Fidelity National Title Insurance Company
as part of the Asset Purchase Agreement.

               LandAmerica Financial Group, Inc.
          Schedule of Cash Receipts and Disbursements
                For Month Ended April 30, 2009

Operating Cash and Cash Equivalents

Held for the benefit;
  LandAmerica Financial Group, Inc.            $71,889,000
  Underwriters                                  11,778,000
  Retained Subsidiaries                         20,455,000
                                           ---------------
     Opening Cash                              104,122,000
                                           ---------------

Cash Receipts

  Collection received for the
  benefit of;
     Underwriters                                6,959,000
     Retained subsidiaries                       1,640,000

  Payment reimbursements by;
     Underwriters                                4,941,000
     Retained Subsidiaries                       6,049,000

  Proceeds from sale of the
  Underwriting business;
     LandAmerica Financial Group, Inc.                   0
     Retained Subsidiaries                     (12,005,000)

  Proceeds from sale LandAm Valuation              202,000

  Other Receipts                                 1,199,000
                                           ---------------
     Total Receipts                              8,985,000
                                           ---------------

Cash Disbursement

  Related to LFG
     Payroll                                     1,127,000
     Rent & other occupancy costs                  446,000
     Insurance                                     159,000
     Leases                                        200,000
     Information Technology                        189,000
     Payables                                      320,000
     Bankruptcy Professional Fees                3,171,000
     Others                                              0
                                           ---------------
     Total                                       5,613,000
                                           ---------------
  Payments made for the benefit of;
     Underwriters                                5,635,000
     Retained subsidiaries                      13,882,000
                                           ---------------
     Total Disbursements                        25,129,000

Net Cash Flow                                  (16,144,000)
                                           ---------------
Ending Cash and Cash Equivalents               $87,978,000
                                           ===============

Ending Cash and Cash Equivalents

  Held for the benefit;
     LandAmerica Financial Group, Inc.         $67,677,000
     Underwriters                               18,043,000
     Retained subsidiaries                       2,258,000
                                           ---------------
     Total                                     $87,978,000
                                           ===============

                 About LandAmerica Financial Group

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

LandAmerica Financial Group and its affiliate LandAmerica 1031
Exchange Services, Inc., filed for Chapter 11 protection
November 26, 2008 (Bankr. E.D. Va. Lead Case No. 08-35994).  Dion
W. Hayes, Esq., and John H. Maddock III, Esq., at McGuireWoods
LLP are the Debtors' bankruptcy counsel.

In its bankruptcy petition, LFG listed total assets of
$3,325,100,000, and total debts of $2,839,800,000 as of
September 30, 2008.

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

Bankruptcy Creditors' Service, Inc., publishes LandAmerica
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by LandAmerica Financial and its affiliate LandAmerica
1031 Exchange Services, Inc. (http://bankrupt.com/newsstand/or
215/945-7000)


LANDAMERICA FINANCIAL: Reports $9,893,000 Net Loss for May 2009
---------------------------------------------------------------

               LandAmerica Financial Group, Inc.
                         Balance Sheet
                       As of May 31, 2009

ASSETS

  Cash                                         $80,712,000
  Notes:
     Fidelity National Title                    50,000,000
     Other                                      12,957,000

  Investments:
     Fidelity National Title stock              53,590,000

  Taxes receivable                              21,856,000
  Property and equipment                        15,122,000
  Title Plans                                      945,000
  Other assets                                  79,354,000
  Investments in subsidiaries and
     consolidated joint ventures               649,582,000
  Intercompany receivable                      252,958,000
                                           ---------------
     Total Assets                           $1,217,076,000
                                           ===============

Liabilities

  Accounts payable and accrued
     liabilities                                17,813,000
  Liabilities subject to compromise            484,116,000
                                           ---------------
     Total Liabilities                         501,929,000
     Total Shareholders' Equity                715,147,000
                                           ---------------
     Total Liabilities and
        Shareholders' Equity                $1,217,076,000
                                           ===============

               LandAmerica Financial Group, Inc.
                    Statement of Operations
               For the month ended May 31, 2009

Revenue:
  Investment and other income                     $151,000
  Valuation adjustment related to
     Fidelity National Title Stock             (13,310,000)
                                           ---------------
     Total Revenue                            ($13,159,000)
                                           ===============

Expenses
  General, administrative and other
    expenses                                     1,599,000
  Professional fees                              4,211,000
  Impairment of assets                          (9,240,000)
  Depreciation and amortization                    320,000
  Interest Expense                                       0
  Loss on disposal of subsidiaries                (157,000)
                                           ---------------
     Total Expenses                             (3,266,000)
                                           ---------------
     Net Loss before income taxes               (9,893,000)
  Income tax benefit                                     0
                                           ---------------
     Net Loss                                  ($9,893,000)
                                           ===============

Loss on disposal of subsidiaries is related to the sale on
certain subsidiaries to Fidelity National Title Insurance Company
as part of the Asset Purchase Agreement

               LandAmerica Financial Group, Inc.
          Schedule of Cash Receipts and Disbursements
                 For Month Ended May 31, 2009

Operating Cash and Cash Equivalents

Held for the benefit;
  LandAmerica Financial Group, Inc.            $67,677,000
  Underwriters                                  18,043,000
  Retained Subsidiaries                          2,258,000
                                           ---------------
     Opening Cash                               87,978,000
                                           ---------------

Cash Receipts

  Collection received for the
  benefit of:
     Underwriters                                        0
     Retained subsidiaries                       1,318,000

  Payment reimbursements by:
     Underwriters                                        0
     Retained Subsidiaries                      11,325,000

  Proceeds from sale of the
  Underwriting business;
     LandAmerica Financial Group, Inc.                   0
     Retained Subsidiaries                               0

  Proceeds from sale LandAm Valuation                    0

  Other Receipts                                 1,222,000
                                           ---------------
     Total Receipts                             13,865,000
                                           ---------------

Cash Disbursement

  Related to LFG
     Payroll                                       779,000
     Rent & other occupancy costs                  433,000
     Insurance                                           0
     Leases                                        171,000
     Information Technology                        267,000
     Payables                                      611,000
     Bankruptcy Professional Fees                4,839,000
     Return of Funds - Underwriters              2,117,000
     Others                                              0
                                           ---------------
     Total                                       9,218,000
                                           ---------------
  Payments made for the benefit of;
     Underwriters                                 (595,000)
     Retained subsidiaries                      12,509,000
                                           ---------------
     Total Disbursements                        21,132,000

Net Cash Flow                                   (7,267,000)
                                           ---------------
Ending Cash and Cash Equivalents               $80,712,000
                                           ===============

Ending Cash and Cash Equivalents

  Held for the benefit;
     LandAmerica Financial Group, Inc.         $61,799,000
     Underwriters                               16,521,000
     Retained subsidiaries                       2,392,000
                                           ---------------
     Total                                     $80,712,000
                                           ===============

                 About LandAmerica Financial Group

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

LandAmerica Financial Group and its affiliate LandAmerica 1031
Exchange Services, Inc., filed for Chapter 11 protection
November 26, 2008 (Bankr. E.D. Va. Lead Case No. 08-35994).  Dion
W. Hayes, Esq., and John H. Maddock III, Esq., at McGuireWoods
LLP are the Debtors' bankruptcy counsel.

In its bankruptcy petition, LFG listed total assets of
$3,325,100,000, and total debts of $2,839,800,000 as of
September 30, 2008.

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

Bankruptcy Creditors' Service, Inc., publishes LandAmerica
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by LandAmerica Financial and its affiliate LandAmerica
1031 Exchange Services, Inc. (http://bankrupt.com/newsstand/or
215/945-7000)


LANDAMERICA FINANCIAL: Zolfo Copper Mgt. Files Monthly Report
-------------------------------------------------------------
Pursuant to the Chief Restructuring Officer Order, Zolfo Cooper
Management LLC is required to file a report, which outlines the
fees and reimbursable expenses set forth in its invoice for a
particular period.  The Debtors are authorized to pay the
applicable invoice in full.

Accordingly, Zolfo Copper asks the Debtors to remit to its New
Jersey Office payments for management services rendered with
respect to the Debtors' Chapter 11 case from:

1. LandAmerica Financial Group, Inc.

  (a) For the period November 26 to 30, 2008:

      Professional Fees:             $18,192
      Paraprofessional Fees:             800
      Expenses & Other Fees:             652
                                  ----------
      Total Due:                     $19,644
                                  ==========

  (b) For the period December 1 to 31, 2008:

      Professional Fees:            $881,037
      Paraprofessional Fees:           3,480
      Expenses & Other Fees:          63,083
                                  ----------
      Total Due:                    $947,600
                                  ==========

  (c) For the period January 1 to 31, 2009:

      Professional Fees:            $996,102
      Paraprofessional Fees:           1,192
      Expenses & Other Fees:          69,769
                                  ----------
      Total Due:                  $1,067,064
                                  ==========

  (d) For the period February 1 to 28, 2009:

      Professional Fees:            $916,328
      Expenses & Other Fees:          69,141
                                  ----------
      Total Due:                    $985,470
                                  ==========

  (e) For the period March 1 to 31, 2009:

      Professional Fees:          $1,030,999
      Expenses & Other Fees:          72,226
                                  ----------
      Total Due:                  $1,103,225
                                  ==========

  (e) For the period April 1 to 30, 2009:

      Professional Fees:            $951,213
      Paraprofessional Fees:           2,452
      Expenses & Other Fees           76,369
                                  ----------
      Total Due:                  $1,030,034
                                  ==========

  (f) For the period May 1 to 31, 2009:

      Professional Fees:            $901,857
      Expenses & Other Fees:          80,599
                                  ----------
      Total Due:                    $982,457
                                  ==========

2. LandAmerica 1031 Exchange Services, Inc.

  (a) For the period January 23 to 31, 2009:

      Professional Fees:              $5,699
      Paraprofessional Fees:             225
      Expenses & Other Fees:             201
                                  ----------
      Total Due:                      $6,125
                                  ==========

  (b) For the period February 1 to 28, 2009:

      Professional Fees:             $20,200
      Paraprofessional Fees:             112
      Expenses & Other Fees:              68
                                  ----------
      Total Due:                     $20,381
                                  ==========

                 About LandAmerica Financial Group

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

LandAmerica Financial Group and its affiliate LandAmerica 1031
Exchange Services, Inc., filed for Chapter 11 protection
November 26, 2008 (Bankr. E.D. Va. Lead Case No. 08-35994).  Dion
W. Hayes, Esq., and John H. Maddock III, Esq., at McGuireWoods
LLP are the Debtors' bankruptcy counsel.

In its bankruptcy petition, LFG listed total assets of
$3,325,100,000, and total debts of $2,839,800,000 as of
September 30, 2008.

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

Bankruptcy Creditors' Service, Inc., publishes LandAmerica
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by LandAmerica Financial and its affiliate LandAmerica
1031 Exchange Services, Inc. (http://bankrupt.com/newsstand/or
215/945-7000)


LANDSOURCE COMMUNITIES: Incurs $7,756,452 Profit for May 2009
-------------------------------------------------------------
            LandSource Communities Development, LLC
                   Consolidated Balance Sheet
                       As of May 31, 2009

Assets

Cash                                             $26,184,188
Restricted Cash                                   11,411,060
Receivables                                       21,420,362
Inventories                                    1,341,078,674
Operating Properties, net                         85,239,349
Investment in unconsolidated entities             12,896,798
Other assets                                      46,502,184
                                              ---------------
    Total Assets                               $1,544,732,615
                                              ===============

Liabilities and Members' Capital
Accounts payable & Accrued Liabilities            95,961,727
Deferred Revenue                                  59,014,950
Debt                                             137,414,305
                                              ---------------
Total Liabilities Not Subject to Comprise        292,390,982

Total Liabilities Subject to Compromise        1,388,308,224
                                              ---------------
Total Liabilities                              1,680,699,206

Members' Capital/(Deficit)                      (135,966,591)
                                              ---------------
Total Liabilities and Members' Capital        $1,544,732,615
                                              ===============

            LandSource Communities Development, LLC
            Consolidated Statements of Operations
                    Month Ended May 31, 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                             $6,133,209
Sales to third parties                                12,005
                                              ---------------
    Total Land Sale Revenue                         6,145,214

Cost of sales to related parties                           0
Cost of sales to third parties                           828
Loss on Impaired Real State Inventories                    0
                                              ---------------
    Total Cost of Land Sales                              828
                                              ---------------
Gross Margin on Land Sales Operations               6,144,386

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

Operating Cost and Expenses
Field, selling, general & administrative           2,110,188
Management fees to related parties                   470,264
                                              ---------------
    Total Operating Costs and Expenses              2,580,451

Other Operations, net
Equity in earnings of unconsolidated entities     (7,411,678)
Rental operations                                    403,271
Valencia Water Company                                     0
Club operations                                      (12,738)
Interest income                                        4,084
Interest expense                                    (360,153)
Loss on debt restructuring                                 0
Loss on interest rate swap termination                     0
Miscellaneous                                        264,588
                                              ---------------
    Total Other Operations, net                    (7,112,627)
                                              ---------------
Earnings (Loss) before Reorganization Items        (3,548,691)

Reorganization Expenses                             4,207,760
                                              ---------------
Net Earnings (Loss)                                $7,756,452
                                              ===============

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

Net Operating Cash Flow
Housing revenue                                     $328,025
Commercial Revenue                                 1,684,748
Other                                                      0
Option deposits                                            0
Less: Closing Costs                                        0
                                              ---------------
    Total Operating Inflows                         2,012,773

Operating Cash Outflows
Master improvements & CFDs                        (2,494,048)
Property tax                                          29,602
General & Administrative                              (9,498)
Other                                               (615,182)
Management fees                                            0
                                              ---------------
    Total Operating Outflows                       (3,089,126)

    Total Net Operating Cash Flow                  (1,076,353)

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

DIP Interest and Fees
DIP Facility interest                                      0
Undrawn fee                                                0
DIP Facility fees                                     (1,458)
                                              ---------------
    Total DIP Interest and Fees                        (1,458)

Restructuring professionals                       (1,294,940)

    Total Bankruptcy Disbursements                 (1,296,397)
                                              ---------------
    Total Net Cash Flow                           ($2,372,750)
                                              ===============
DIP Facility
Beginning Balance                                101,496,228
Borrowings                                        33,503,772
(Repayments)                                               0
                                              ---------------
Ending Balance                                  $135,000,000
                                              ===============

Disbursement Per Debtor
LandSource Communities Development, LLC            1,249,001
California Land Company                                    0
Friendswood Development Company, LLC                     162
Lennar Land Partners II                               49,607
Kings Wood Development Company, L.C.                       0
LSC Associates, LLC                                        0
Lennar Mare Island, LLC                              445,077
LandSource Communities Development Sub, LLC              250
Lennar Moorpark, LLC                                       0
Lennar Stevenson Holdings, LLC                             0
The Newhall Land and Farming Company                       0
LandSource Holding Company, LLC                      681,291
LNR-Lennar Washington Square, LLC                    598,299
Lennar Bressi Ranch Venture, LLC                           0
The Newhall Land and Farming Company
(a California Limited Partnership)                 3,357,921
NWI-IL GP, LLC                                           250
Tournament Players Club at Valencia, LLC             296,192
Southwest Communities Development, LLC                 3,066
Valencia Corporation                                       0
Stevenson Ranch Venture, LLC                          15,406
Valencia Realty Company                                    0
                                              ---------------
    Total Disbursement                             $6,696,523
                                              ===============

                  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.

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


LEHIGH COAL: Loses $406,000 in June on $835,000 Sales
-----------------------------------------------------
According to Bill Rochelle at Bloomberg News, Lehigh Coal &
Navigation Co. reported a $406,000 net loss in June on sales of
$836,000.  The gross operating profit for the month was $169,000.
The loss resulted in large part from $327,000 in professional
fees.  For the year so far, the cumulative net loss is $140,000 on
sales of $8.2 million.

Pottsville, Pennsylvania-based Lehigh Coal & Navigation Co. --
http://www.lcncoal.com/-- has been mining anthracite coal since
the late 1700s, with 8,000 acres of coal-producing properties.
Creditors filed an involuntary Chapter 11 petition against the
Company on July 15, 2008 (Bankr. M.D. Penn. Case No. 08-51957).
The involuntary filing was the third filed against the Company in
less than four years.  Jeffrey Kurtzman, Esq., at Klehr, Harrison,
Harvey, Branzburg and Ellers, LLP, represents the petitioners.

The Debtor consented to being in Chapter 11 in August 2008.


LEHMAN BROTHERS: Has $10.022 Billion Cash at End of May 2009
------------------------------------------------------------
Lehman Brothers Holdings Inc. and its affiliated debtors
disclosed these cash receipts and disbursements for the month
ended May 31, 2009:

Beginning cash, 05/01/09                 $9,281,000,000
Receipts                                  1,138,000,000
Transfers                                    20,000,000
Disbursements                              (424,000,000)
FX Fluctuation                                7,000,000
                                         ---------------
Ending cash,    05/31/09                $10,022,000,000

LBHI reported $2.57 billion in cash as of May 1, 2009, and
$2.666 billion in cash as of May 31, 2009.

The Debtors also disclosed that they paid a total of $ 35,960,000
to bankruptcy professionals, ordinary course professionals and
the U.S. Trustee for May 2009.

A full-text copy of the May 2009 Operating Report is available
for free at http://bankrupt.com/misc/LehmanMORMay2009.pdf

                      About Lehman Brothers

Lehman Brothers Holdings Inc. -- http://www.lehman.com/-- was the
fourth largest investment bank in the United States.  For more
than 150 years, Lehman Brothers has been a leader in the global
financial markets by serving the financial needs of corporations,
governmental units, institutional clients and individuals
worldwide.  Through its team of more than 25,000 employees, Lehman
Brothers offered 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 were complemented by a network of
offices in North America, Europe, the Middle East, Latin America
and the Asia Pacific region.  The firm, through predecessor
entities, was founded in 1850.

Lehman filed for Chapter 11 bankruptcy September 15, 2008 (Bankr.
S.D.N.Y. Case No. 08-13555).  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.

Subsidiary LB 745 LLC, submitted a Chapter 11 petition on
September 16 (Case No. 08-13600).  Several other affiliates
followed thereafter.

The Debtors' 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.

On September 19, 2008, the Honorable Gerard E. Lynch, Judge of the
United States District Court for the Southern District of New
York, entered an order commencing liquidation of Lehman Brothers,
Inc., pursuant to the provisions of the Securities Investor
Protection Act in the case captioned Securities Investor
Protection Corporation v. Lehman Brothers Inc., Case No. 08-CIV-
8119 (GEL).  James W. Giddens has been appointed as trustee for
the SIPA liquidation of the business of LBI

Barclays Bank Plc has agreed, subject to U.S. Court and relevant
regulatory approvals, to acquire Lehman Brothers' 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 $2 dollars for Lehman's
investment banking and equities businesses in Europe, but agreed
to retain most of Lehman's employees.

               International Operations Collapse

Lehman Brothers International (Europe), the principal UK trading
company in the Lehman group, was placed into administration,
together with Lehman Brothers Ltd, LB Holdings PLC and LB UK RE
Holdings Ltd.  These are currently the only UK incorporated
companies in administration.  Tony Lomas, Steven Pearson, Dan
Schwarzmann and Mike Jervis, partners at PricewaterhouseCoopers
LLP, have been appointed as joint administrators to Lehman
Brothers International (Europe) on September 15, 2008.  The joint
administrators have been appointed to wind down the business.
Lehman Brothers Japan Inc. and Lehman Brothers Holdings Japan Inc.
filed for bankruptcy in the Tokyo District Court on September 16.
The two units of Lehman Brothers Holdings, Inc., which has filed
for bankruptcy protection in the U.S. Bankruptcy Court for the
Southern District of New York, have combined liabilities of
JPY4 trillion -- US$38 billion).  Lehman Brothers Japan Inc.
reported about JPY3.4 trillion (US$33 billion) in liabilities in
its petition.  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 have suspended
its operations with immediate effect, including ceasing to trade
on the Hong Kong Securities Exchange and Hong Kong Futures
Exchange, until further notice.  The Asian units' asset management
company, Lehman Brothers Asset Management Limited, will continue
to operate on a business as usual basis.  A further notice
concerning the retail structured products issued by or arranged by
any Lehman Brothers group company will be issued as soon as
possible, a press statement said.

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: Has $11.125 Billion Cash at End of June 2009
-------------------------------------------------------------
Lehman Brothers Holdings Inc. and its affiliated debtors
disclosed these cash receipts and disbursements for the month
ended June 30, 2009:

Beginning cash, 06/01/09                $10,022,000,000
Receipts                                  2,404,000,000
Transfers                                   188,000,000
Disbursements                            (1,516,000,000)
FX Fluctuation                                8,000,000
Hedging Fluctuation                          18,000,000
                                         ---------------
Ending cash,   06/30/09                 $11,125,000,000

LBHI reported $2.666 billion in cash as of June 1, 2009, and
$2.939 billion in cash as of June 30, 2009.

The Debtors also disclosed that they paid a total of $55,651,000
to bankruptcy professionals, ordinary course professionals and
the U.S. Trustee for June 2009.

A full-text copy of the June 2009 Operating Report is available
for free at http://bankrupt.com/misc/LehmanMORJune2009.pdf

                      About Lehman Brothers

Lehman Brothers Holdings Inc. -- http://www.lehman.com/-- was the
fourth largest investment bank in the United States.  For more
than 150 years, Lehman Brothers has been a leader in the global
financial markets by serving the financial needs of corporations,
governmental units, institutional clients and individuals
worldwide.  Through its team of more than 25,000 employees, Lehman
Brothers offered 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 were complemented by a network of
offices in North America, Europe, the Middle East, Latin America
and the Asia Pacific region.  The firm, through predecessor
entities, was founded in 1850.

Lehman filed for Chapter 11 bankruptcy September 15, 2008 (Bankr.
S.D.N.Y. Case No. 08-13555).  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.

Subsidiary LB 745 LLC, submitted a Chapter 11 petition on
September 16 (Case No. 08-13600).  Several other affiliates
followed thereafter.

The Debtors' 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.

On September 19, 2008, the Honorable Gerard E. Lynch, Judge of the
United States District Court for the Southern District of New
York, entered an order commencing liquidation of Lehman Brothers,
Inc., pursuant to the provisions of the Securities Investor
Protection Act in the case captioned Securities Investor
Protection Corporation v. Lehman Brothers Inc., Case No. 08-CIV-
8119 (GEL).  James W. Giddens has been appointed as trustee for
the SIPA liquidation of the business of LBI

Barclays Bank Plc has agreed, subject to U.S. Court and relevant
regulatory approvals, to acquire Lehman Brothers' 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 $2 dollars for Lehman's
investment banking and equities businesses in Europe, but agreed
to retain most of Lehman's employees.

               International Operations Collapse

Lehman Brothers International (Europe), the principal UK trading
company in the Lehman group, was placed into administration,
together with Lehman Brothers Ltd, LB Holdings PLC and LB UK RE
Holdings Ltd.  These are currently the only UK incorporated
companies in administration.  Tony Lomas, Steven Pearson, Dan
Schwarzmann and Mike Jervis, partners at PricewaterhouseCoopers
LLP, have been appointed as joint administrators to Lehman
Brothers International (Europe) on September 15, 2008.  The joint
administrators have been appointed to wind down the business.
Lehman Brothers Japan Inc. and Lehman Brothers Holdings Japan Inc.
filed for bankruptcy in the Tokyo District Court on September 16.
The two units of Lehman Brothers Holdings, Inc., which has filed
for bankruptcy protection in the U.S. Bankruptcy Court for the
Southern District of New York, have combined liabilities of
JPY4 trillion -- US$38 billion).  Lehman Brothers Japan Inc.
reported about JPY3.4 trillion (US$33 billion) in liabilities in
its petition.  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 have suspended
its operations with immediate effect, including ceasing to trade
on the Hong Kong Securities Exchange and Hong Kong Futures
Exchange, until further notice.  The Asian units' asset management
company, Lehman Brothers Asset Management Limited, will continue
to operate on a business as usual basis.  A further notice
concerning the retail structured products issued by or arranged by
any Lehman Brothers group company will be issued as soon as
possible, a press statement said.

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)


LTV CORP: Files Monthly Operating Report for June 2009
------------------------------------------------------
On July 20, 2009, The LTV Corporation, et al., submitted to the
U.S. Bankruptcy Court for the Northern District of Ohio their
operating report for the period ended June 30, 2009, for the LTV
Integrated Steel Business.

For the month of June 2009, the LTV Integrated Steel Business
reported total cash disbursements of $109,000.  Ending cash
balance was $10,913,000, as shown below:

     Beginning cash               $11,022,000
     Add: Receipts                         $0
     Total Available Cash         $11,022,000
     Less: Disbursements             $109,000
     Ending cash                  $10,913,000

A full-text copy of the Debtors' June 2009 operating report is
available for free at http://researcharchives.com/t/s?3fe4

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


LYONDELL CHEMICAL: Reports $48 Million Net Loss for April 2009
--------------------------------------------------------------

            Lyondell Chemical Company and affiliates
                 Unaudited Combined Balance Sheets
                       As of April 30, 2009
                           (in millions)

Assets
Current assets:
Cash and cash equivalents                             $843
Short-term investments                                  12
Accounts receivable:
Trade, net                                           1,012
Related parties                                          1
Non-debtor affiliates                                  293
Inventories                                          1,726
Short-term loan receivables -
Non-debtor affiliates                                  623
Current deferred income tax assets                     545
Prepaid expenses and other current assets              543
                                                 ----------
  Total current assets                                5,598

Property, plant and equipment, net                   10,132
Investments and long-term receivables:
Investment in PO joint ventures                        568
Long-term loan receivables -
non-debtor affiliates                                2,133
Investments in non-debtor affiliates                 4,815
Other investments and long-term receivables             27
Intangible assets, net                                1,720
Other assets                                            175
                                                 ----------
  Total Assets                                      $25,168
                                                 ==========

Liabilities and Stockholder's Equity
Current liabilities:
Current maturities of long-term debt                 8,704
Short-term debt                                      5,635
Short-term payables - non-debtor affiliates            237
Accounts payable:
Trade                                                  839
Related parties                                         10
Non-debtor affiliates                                  654
Accrued liabilities                                    922
                                                 ----------
  Total current liabilities                          17,001
Other liabilities                                      358
Deferred income taxes                                2,876
Liabilities subject to compromise                    12,076
Commitments and contingencies                             -
Stockholders equity:
Common stock                                            60
Additional paid-in capital                             563
Retained deficit                                    (7,528)
Accumulated other comprehensive income                (357)
                                                 ----------
                                                     (7,262)
Minority interests                                     119
                                                 ----------
  Total stockholder's deficit                        (7,143)
                                                 ----------
Total liabilities and stockholder's equity          $25,168
                                                 ==========

             Lyondell Chemical Company and affiliates
                  Unaudited Statement of Income
                 For month ended April 30, 2009
                          (in millions)

Sales and other operating revenues:
Trade                                               $1,325
Non-Debtor affiliates                                   37
                                                 ----------
                                                      1,362
Operating costs and expenses:
Cost of sales                                        1,355
Asset impairments                                        5
Selling, general and admin. Expenses                    28
Research and development expenses                        2
                                                 ----------
                                                      1,390
                                                 ----------
Operating loss                                          (28)
                                                 ----------
Interest expense                                       (94)
Interest income                                          2
Other income (expense), net                             (5)
                                                 ----------
  Income before reorganization items,
  equity investments and income
  taxes                                                (125)
                                                 ----------
Reorganization items                                    (81)
Income from equity investments                           49
                                                 ----------
  Loss before income taxes                             (157)
Benefit from income taxes                              (109)
                                                 ----------
Loss from continuing operations                         (48)
Discontinued operations                                   -
                                                 ----------
Net Loss                                               ($48)
                                                 ==========

        Lyondell Chemical Company and its affiliates
            Unaudited Statements of Cash Flows
            For the month ended April 30, 2009
                     (in millions)

Cash flows from operating activities:
Net loss                                              ($48)
Net loss - discontinued operations                       -
Adjustments to reconcile net loss to
net cash used in operating
activities:
  Depreciation and amortization                          91
  Reorganization charges                                 81
  Reorganization-related payments                       (11)
  Asset impairments                                       5
  Equity investments - income                           (49)
  Deferred income taxes                                (118)
  Foreign currency exchange gain on
   Term Loan B - German tranche                          29
Changes in assets and liabilities
that provided (used) cash:
  Accounts receivable                                    40
  Inventories                                            82
  Accounts payable                                      (67)
Others, net                                             (43)
                                                 ----------
  Net cash used in operating
   activities - continuing operations                    (8)

  Net cash provided by operating activities
   discontinued operations                                -
                                                 ----------
         Net cash used in operating activities           (8)
                                                 ----------
Cash flows from investing activities:
Expenditures for property, plant and
equipment                                              (16)
Proceeds from loans to non-Debtor affiliates            50
Short term investments                                  11
Other, net                                              (1)
                                                 ----------
  Net cash provided by investing activities              44
                                                 ----------

Cash flows from financing activities:
Net borrowings under DIP Revolving Facility            400
Payment of debt issuance costs                         (11)
Other, net                                              (1)
                                                 ----------
  Net cash provided by financing activities             388
                                                 ----------
Effect of exchange rate changes on cash                   -
                                                 ----------
Increase in cash and cash equivalents                   424
Cash and cash equivalents at beginning of period        419
                                                 ----------
Cash and cash equivalents at end of period             $843
                                                 ==========

                      About Lyondell Chemical

LyondellBasell Industries is one of the world's largest polymers,
petrochemicals and fuels companies.  It is the global leader in
polyolefins technology, production and marketing; a pioneer in
propylene oxide and derivatives; and a significant producer of
fuels and refined products, including biofuels.  Through research
and development, LyondellBasell develops innovative materials and
technologies that deliver exceptional customer value and products
that improve quality of life for people around the world.
Headquartered in The Netherlands, LyondellBasell --
http://www.lyondellbasell.com/-- is privately owned by Access
Industries.

Basell AF and Lyondell Chemical Company merged operations in 2007
to form LyondellBasell Industries, the world's third largest
independent chemical company.  LyondellBasell became saddled with
debt as part of the US$12.7 billion merger.  On January 6, 2009,
LyondellBasell Industries' U.S. operations and one of its European
holding companies -- Basell Germany Holdings GmbH -- filed
voluntary petitions to reorganize under Chapter 11 of the U.S.
Bankruptcy Code to facilitate a restructuring of the company's
debts.  The case is In re Lyondell Chemical Company, et al.,
Bankr. S.D. N.Y. Lead Case No. 09-10023).  Seventy-nine Lyondell
entities,  including Equistar Chemicals, LP, Lyondell Chemical
Company, Millennium Chemicals Inc., and Wyatt Industries, Inc.
filed for Chapter 11.  In May 2009, one of the cases was dismissed
-- Case No. 09-10068 -- because it is duplicative of Case No. 09-
10040 relating to Debtor Glidden Latin America Holdings.

The Hon. Robert E. Gerber presides over the case.  Deryck A.
Palmer, Esq., at Cadwalader, Wickersham & Taft LLP, in New York,
serves as the Debtors' bankruptcy counsel.  Evercore Partners
serves as financial advisors, and Alix Partners and its subsidiary
AP Services LLC, serves as restructuring advisors.  AlixPartners'
Kevin M. McShea acts as the Debtors' Chief Restructuring Officer.
Clifford Chance LLP serves as restructuring advisors to the
European entities.  Lyondell Chemical estimated that consolidated
assets total US$27.12 billion and debts total US$19.34 billion as
of the bankruptcy filing date.

Lyondell has obtained approximately $8 billion in DIP financing to
fund continuing operations.  The DIP financing includes two credit
agreements: a $6.5 billion term loan, which comprises a
$3.25 billion in new loans and a $3.25 billion roll-up of existing
loans; and a $1.57 billion asset-backed lending facility.

Luxembourg-based LyondellBasell Industries AF S.C.A. and another
affiliate were voluntarily added to Lyondell Chemical's
reorganization filing under Chapter 11 on April 24, 2009, in order
to seek protection against claims by certain financial and U.S.
trade creditors.  On May 8, 2009, LyondellBasell Industries added
13 non-operating entities to Lyondell Chemical Company's
reorganization filing under Chapter 11 of the U.S. Bankruptcy
Code.  All of the entities are U.S. companies and were added to
the original Chapter 11 filing for administrative purposes.  The
filings will have no impact on current business or operations as
none of the entities manufactures or sells products.

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


LYONDELL CHEMICAL: Net Loss Widens to $63 Million for May 2009
--------------------------------------------------------------

            Lyondell Chemical Company and affiliates
                 Unaudited Combined Balance Sheets
                        As of May 31, 2009
                           (in millions)

Assets
Current assets:
Cash and cash equivalents                             $449
Short-term investments                                  12
Accounts receivable:
Trade, net                                           1,219
Related parties                                          1
Non-debtor affiliates                                  195
Inventories                                          1,735
Current deferred income tax assets                       3
Prepaid expenses and other current assets              564
                                                 ----------
  Total current assets                                4,178
Property, plant and equipment, net                   10,056

Investments and long-term receivables:
Investment in PO joint ventures                        568
Investments in non-debtor affiliates                 4,863
Other investments and long-term
Receivables                                             27
Intangible assets, net                                1,669
Other assets                                            181
                                                 ----------
  Total Assets                                      $21,542
                                                 ==========

Liabilities and Stockholder's Equity
Current liabilities:
Current maturities of long-term debt                 8,704
Short-term debt                                      5,334
Accounts payable:
Trade                                                  967
Related parties                                          8
Non-debtor affiliates                                  582
Accrued liabilities                                    757
Deferred income taxes                                  144
                                                 ----------
  Total current liabilities                          16,496
Long-term debt                                           -
Other liabilities                                      390
Deferred income taxes                                2,168
Liabilities subject to compromise                    12,262
Commitments and contingencies                             -
Stockholders equity:
Common stock                                            60
Additional paid-in capital                             563
Retained deficit                                    (7,640)
Net receivables - non-debtor affiliates             (2,537)
Accumulated other comprehensive loss                  (339)
                                                 ----------
                                                     (9,893)
Minority interest                                      119
                                                 ----------
  Total stockholder's deficit                        (9,774)
                                                 ----------
  Total liabilities and stockholder's equity        $21,542
                                                 ==========

             Lyondell Chemical Company and affiliates
                    Unaudited Statement of Income
                            (in millions)
                   for month ended May 31, 2009

Sales and other operating revenues:
Trade                                               $1,375
Non-Debtor affiliates                                   37
                                                 ----------
                                                      1,412

Operating costs and expenses:
Cost of sales                                        1,396
Selling, general and admin. Expenses                    16
Research and development expenses                        5
                                                 ----------
                                                      1,417
                                                 ----------
Operating loss                                           (5)
Interest expense                                       (153)
Interest income                                          11
Other income, net                                       106
                                                 ----------

  Loss before reorganization items,
  equity investments and income
  taxes                                                 (41)
                                                 ----------

Reorganization items                                    (49)
Loss from equity investments                             (9)
                                                 ----------

  Loss before income taxes                              (99)
Benefit from income taxes                               (36)
                                                 ----------
Net loss from continuing operations                     (63)
Discontinued operations                                   -
                                                 ----------
Net Loss                                               ($63)
                                                 ==========

         Lyondell Chemical Company and its affiliates
             Unaudited Statements of Cash Flows
             For the month ended May 31, 2009
                    (in millions)


Cash flows from operating activities:
Net loss                                              ($63)
Net loss - discontinued operations                       -
Adjustments to reconcile net loss to
net cash used in operating
activities:
  Depreciation and amortization                         108
  Reorganization charges                                 49
  Reorganization - loss                                   9
  Deferred income taxes                                 (37)
  Foreign currency exchange gain on Term Loan B -
   German tranche                                      (106)
Changes in assets and liabilities
that provided (used) cash:
  Accounts receivable                                  (210)
  Inventories                                            (8)
  Accounts payable                                      120
  Reorganization-related payments                       (40)
Other, net                                               67
                                                 ----------
  Net cash used in operating
   activities - continuing operations                  (111)

  Net cash provided by operating activities
   discontinued operations                                -
                                                 ----------
  Net cash used in operating activities                (111)
                                                 ----------

Cash flows from investing activities:
Expenditures for property, plant and
Equipment                                              (18)
Repayment of loans by non-Debtor affiliates             50
Other, net                                               1
                                                 ----------
  Net cash provided by investing activities              33
                                                 ----------

Cash flows from financing activities:
Net repayments of DIP Revolving Facility              (300)
Payment of debt issuance costs                         (18)
Short-term borrowings                                    1
Other, net                                               1
                                                 ----------
  Net cash used in financing activities                (316)
                                                 ----------
Effect of exchange rate changes on cash                   -
                                                 ----------
Decrease in cash and cash equivalents                  (394)
Cash and cash equivalents at beginning of period        843
                                                 ----------
Cash and cash equivalents at end of period             $449
                                                 ==========

                      About Lyondell Chemical

LyondellBasell Industries is one of the world's largest polymers,
petrochemicals and fuels companies.  It is the global leader in
polyolefins technology, production and marketing; a pioneer in
propylene oxide and derivatives; and a significant producer of
fuels and refined products, including biofuels.  Through research
and development, LyondellBasell develops innovative materials and
technologies that deliver exceptional customer value and products
that improve quality of life for people around the world.
Headquartered in The Netherlands, LyondellBasell --
http://www.lyondellbasell.com/-- is privately owned by Access
Industries.

Basell AF and Lyondell Chemical Company merged operations in 2007
to form LyondellBasell Industries, the world's third largest
independent chemical company.  LyondellBasell became saddled with
debt as part of the US$12.7 billion merger.  On January 6, 2009,
LyondellBasell Industries' U.S. operations and one of its European
holding companies -- Basell Germany Holdings GmbH -- filed
voluntary petitions to reorganize under Chapter 11 of the U.S.
Bankruptcy Code to facilitate a restructuring of the company's
debts.  The case is In re Lyondell Chemical Company, et al.,
Bankr. S.D. N.Y. Lead Case No. 09-10023).  Seventy-nine Lyondell
entities,  including Equistar Chemicals, LP, Lyondell Chemical
Company, Millennium Chemicals Inc., and Wyatt Industries, Inc.
filed for Chapter 11.  In May 2009, one of the cases was dismissed
-- Case No. 09-10068 -- because it is duplicative of Case No. 09-
10040 relating to Debtor Glidden Latin America Holdings.

The Hon. Robert E. Gerber presides over the case.  Deryck A.
Palmer, Esq., at Cadwalader, Wickersham & Taft LLP, in New York,
serves as the Debtors' bankruptcy counsel.  Evercore Partners
serves as financial advisors, and Alix Partners and its subsidiary
AP Services LLC, serves as restructuring advisors.  AlixPartners'
Kevin M. McShea acts as the Debtors' Chief Restructuring Officer.
Clifford Chance LLP serves as restructuring advisors to the
European entities.  Lyondell Chemical estimated that consolidated
assets total US$27.12 billion and debts total US$19.34 billion as
of the bankruptcy filing date.

Lyondell has obtained approximately $8 billion in DIP financing to
fund continuing operations.  The DIP financing includes two credit
agreements: a $6.5 billion term loan, which comprises a
$3.25 billion in new loans and a $3.25 billion roll-up of existing
loans; and a $1.57 billion asset-backed lending facility.

Luxembourg-based LyondellBasell Industries AF S.C.A. and another
affiliate were voluntarily added to Lyondell Chemical's
reorganization filing under Chapter 11 on April 24, 2009, in order
to seek protection against claims by certain financial and U.S.
trade creditors.  On May 8, 2009, LyondellBasell Industries added
13 non-operating entities to Lyondell Chemical Company's
reorganization filing under Chapter 11 of the U.S. Bankruptcy
Code.  All of the entities are U.S. companies and were added to
the original Chapter 11 filing for administrative purposes.  The
filings will have no impact on current business or operations as
none of the entities manufactures or sells products.

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


MASONITE CORP: Incurs $7,556,000 Net Loss for Month Ended May 24
----------------------------------------------------------------
                    Masonite Corporation
                       Balance Sheet
                     As of May 24, 2009

ASSETS:
  Unrestricted Cash and Equivalents               $40,753,000
  Restricted Cash and Equivalents                   1,000,000
  Trade receivables net                            85,437,000
  Other receivables                                 1,419,000
  Intercompany Receivables - affiliates             1,038,000
  Intercompany Receivables - non-Debtor             5,496,000
  Inventories                                      84,440,000
  Prepaid                                           7,925,000
  Prepaid Retainers                                   357,000
  Current future tax asset                         13,692,000
                                              ---------------
  Current Assets                                  241,556,000
                                              ---------------
  Land                                              3,841,000
  Buildings & leaseholds                           83,541,000
  Mach & equipment                                          0
  ME - Computer equipment                          15,671,000
  ME - Office equipment                            45,623,000
  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                                     420,165,000
  Capital Leases                                      119,000
  Less: Accumulated Depreciation                 (306,950,000)
                                              ---------------
  Total Property & Equipment                      271,435,000

  Intangibles - Definite life                      41,691,000
  Investment in affiliates                         37,812,000
  Investment in non-Debtor affiliates              10,093,000
  Long-term intercompany advances - affiliates     47,180,000
  Long-term intercompany advances - non-Debtor        738,000
  Long-term receivables                                     0
  Deferred costs                                      431,000
  Long term future tax asset                        5,500,000
                                              ---------------
  Total Assets                                   $656,435,000
                                              ===============

LIABILITIES:
  Liabilities not subject to compromise
  Capital leases                                      129,000
  Accounts payable                                 32,070,000
  Postpetition accounts payable                    27,188,000
  Accrued Interest Revolver - adequate protection     391,000
  Accrued Interest Term Loan - adequate protection  2,738,000
  Wages Payable                                    14,593,000
  Professional Fees                                         0
  Leases not compromised                            2,111,000
  Intercompany Payables - affiliates                7,579,000
  Intercompany Payables - non-Debtor affiliates     4,923,000
  Taxes payable                                        (6,000)
  Current future tax liability                              0
  Long-term Intercompany Payables - affiliates     61,498,000
  Long-term Intercompany Payables - non-Debtor              0
  Long-term future tax liability                   26,702,000
  Long-term non-controlling interest                        0
  Long-term liability                               9,559,000
                                              ---------------
  Total liabilities not subject to compromise     189,475,000
                                              ---------------
LIABILITIES & EQUITY:
  Liabilities subject to compromise             1,137,927,000
                                              ---------------
  Total liabilities                             1,327,401,000
                                              ---------------
  Equity                                         (670,967,000)
                                              ---------------
  Liabilities & Equity                           $656,435,000
                                              ===============

                      Masonite Corporation
                    Statement of Operations
                For The Month Ended May 24, 2009

Sales                                              $59,697,000
Cost of sales                                       50,157,000
                                                --------------
Gross profit                                         9,540,000

Selling, General & Administrative                    7,583,000
Depreciation                                         2,339,000
Amortization                                            14,000
Other expense                                          316,000
Interest                                             6,845,000
Income taxes                                                 0
Non-controlling interest                                     0
                                               ---------------
Net Income (Loss)                                  ($7,556,000)
                                               ===============

                      Masonite Corporation
          Statement of Cash Receipts and Disbursements
                  For Month Ended May 24, 2009

Receipts and Disbursements

Receipts
  3rd party Receipts                              $54,921,000
  Intercompany Receipts                             1,739,000
  Intercompany Funding                                      0
                                              ---------------
                                                   56,660,000

Operating Disbursements
  Employee Related                                (15,190,000)
  Trade                                           (22,425,000)
  Capex                                            (2,651,000)
  Intercompany Trade                               (6,336,000)
  Intercompany Funding                                      0
  Other                                           (11,581,000)
                                              ---------------
                                                  (58,183,000)

Restructuring Disbursements
  Professionals                                             0
  Other                                                     0
                                              ---------------
                                                            0

Debt Service Disbursement                           2,393,000

Other                                                 (37,000)
                                              ---------------
  Net Cash Generated (Used)                       ($3,954,000)
                                              ===============

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

                  About Masonite International

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

Masonite International, Inc., and six affiliates filed petitions
on March 16, 2009, before the Ontario Superior Court of Justice
(Commercial List) under the Companies' Creditors Arrangement Act.
The Honorable Justice Campbell presides over the CCAA proceedings.
Derrick Tay and Orestes Pasparakis at Ernst & Young, Inc. serve as
monitor.  Jay A. Carfagnini, Esq., and Brian F. Emprey, Esq., at
Goodmans LLP in Toronto, serve as the Applicants' counsel.

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

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

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

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


MASONITE CORP: Operating Report for Month Ended June 28
-------------------------------------------------------
Masonite Corp. and its debtor affiliates delivered to the U.S.
Bankruptcy Court for the District of Delaware their operating
report for the month ended June 28, 2009.

As of June 28, 2009, Masonite Corp. reported $236,321,000 in
current assets and $271,867,000 in property, plant and equipment.
The Company also reported $412,293,000 in total liabilities
subject to compromise and $7,381,000 in liabilities not subject
to compromise.  The Company disclosed $207,279,000 in equity.

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


                  About Masonite International

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

Masonite International, Inc., and six affiliates filed petitions
on March 16, 2009, before the Ontario Superior Court of Justice
(Commercial List) under the Companies' Creditors Arrangement Act.
The Honorable Justice Campbell presides over the CCAA proceedings.
Derrick Tay and Orestes Pasparakis at Ernst & Young, Inc. serve as
monitor.  Jay A. Carfagnini, Esq., and Brian F. Emprey, Esq., at
Goodmans LLP in Toronto, serve as the Applicants' counsel.

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

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

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

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


MERUELO MADDUX: Posts $1,808,225 Net Loss in May 2009
-----------------------------------------------------
On June 22, 2009, Meruelo Maddux Properties, Inc., and certain of
its direct and indirect subsidiaries and affiliates filed their
monthly operating report for the month ended May 31, 2009, with
the United States Bankruptcy Court for the Central District of
California, San Fernando Valley Division.

The Debtor entities reported a consolidated net loss of $1,808,225
on total revenue of $2,384,992 for the month of May 2009.  Results
for May include interest expense of $1,662,388 and legal and
professional expense of $258,449.

Including Non-debtor entities, net loss was $1,779,677 on total
revenue of $2,386,490 for the month of May.

At May 31, 2009, the Debtor entities had $660,468,269 in total
assets, $307,122,881 in total liabilities, $387,559 in minority
interest, and $352,957,829 in total equity.

Including Non-debtor entities, total assets were $725,307,895,
total liabilities were $397,865,366, minority interest was
$387,559, and total stockholders' equity was $327,054,970, as of
May 31, 2009.

A full-text copy of the Debtors' monthly operating report for May
is available at http://researcharchives.com/t/s?3e99

                       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 $2,568,107 Net Loss in June 2009
------------------------------------------------------
On July 15, 2009, Meruelo Maddux Properties, Inc., and certain of
its direct and indirect subsidiaries and affiliates filed their
monthly operating report for the month ended June 30, 2009, with
the United States Bankruptcy Court for the Central District of
California, San Fernando Valley Division.

The Debtor entities reported a consolidated net loss of $2,568,107
on total revenue of $1,912,385 for the month of June 2009.
Results for June include interest expense of $1,614,165 and legal
and professional expense of $188,485.

Including Non-debtor entities, net loss was $2,568,581 on total
revenue of $1,890,737 for the month of June.

At June 30, 2009, the Debtor entities had $659,912,078 in total
assets, $308,981,447 in total liabilities, $377,246 in minority
interest, and $350,553,385 in total equity.

Including Non-debtor entities, total assets were $719,032,170,
total liabilities were $394,004,871, minority interest was
$377,246, and total stockholders' equity was $324,650,053, as of
June 30, 2009.

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

                       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.


MUZAK HOLDINGS: Incurs $3.1 Million Net Loss for June 2009
----------------------------------------------------------
According to Bill Rochelle at Bloomberg News, Muzak Holdings LLC
reported a $3.1 million net loss in June on revenue of
$18.3 million.  Professional fees totaled $1 million while
interest expense was $3.7 million.  Gross profit for the month was
$10.2 million.  Since filing, the cumulative net loss totals
$16.3 million.

Headquartered in Fort Mill, South Carolina, Muzak Holdings LLC --
http://www.muzak.com/-- creates a variety of music programming
from a catalog of over 2.6 million songs and produces targeted
custom in-store and on-hold messaging.  Through its national
service and support network, Muzak designs and installs
professional sound systems, digital signage, drive-thru systems,
commercial television and more.  The Company and 14 affiliates
filed for Chapter 11 protection on February 10, 2009 (Bankr. D.
Del. Lead Case No. 09-10422).  Moelis & Company is serving as
financial advisor to the Company.  Kirkland & Ellis LLP is the
Debtors' counsel.  Klehr Harrison Harvey Branzburg & Ellers has
been tapped as local counsel.  Muzak's petition listed assets of
$324 million against debt of $465 million, including $101 million
owed on a senior secured credit facility, $220 million in senior
notes and $115 million in subordinated notes.


REUNION INDUSTRIES: Earns $471,000 in April 2009
------------------------------------------------
Reunion Industries, Inc., earned net income of $471,000 on net
sales $1,464,000 for the month of April 2009.  Results for
April 2009 includes other income of $796,000 primarily reflecting
the gain on the sale of the Company's CP Industries division in
April of 2008.

As of April 30, 2009, the Debtor had $20,251,000 in total assets,
$10,970,000 in total liabilities, and $9,281,000 in total
stockholders' equity.

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

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

Reunion Industries filed for Chapter 11 protection on
November 26, 2007 (Bankr. D. Conn. Case No. 07-50727).  Two
Reunion Industries stockholders, Charles E. Bradley, Sr. Family
Limited Partnership, and John Grier Poole Family Limited
Partnership filed separate Chapter 11 petitions on the same day
(Bankr. D. Conn. Case Nos. 07-50725 and 07-50726).  Carol A.
Felicetta, Esq., David M. S. Shaiken, Esq., Eric A. Henzy, Esq.,
at Reid and Riege, P.C.; and Derek M. Johnson, Esq., at Ruben,
Johnson and Morgan, represent Reunion Industries as counsel.

As reported in the Troubled Company Reporter on April 11, 2009,
as of February 28, 2009, the Debtor had $21,930,000 in total
assets, $12,031,000 in total liabilities, and $9,899,000 in total
stockholders' equity.


REUNION INDUSTRIES: Posts $128,000 Net Loss in May 2009
-------------------------------------------------------
Reunion Industries, Inc., posted a net loss of $128,000 on net
sales $1,011,000 for the month of May 2009.

As of May 31, 2009, the Debtor had $19,242,000 in total assets,
$10,089,000 in total liabilities, and $9,153,000 in total
stockholders' equity.

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

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

Reunion Industries filed for Chapter 11 protection on
November 26, 2007 (Bankr. D. Conn. Case No. 07-50727).  Two
Reunion Industries stockholders, Charles E. Bradley, Sr. Family
Limited Partnership, and John Grier Poole Family Limited
Partnership filed separate Chapter 11 petitions on the same day
(Bankr. D. Conn. Case Nos. 07-50725 and 07-50726).  Carol A.
Felicetta, Esq., David M. S. Shaiken, Esq., Eric A. Henzy, Esq.,
at Reid and Riege, P.C.; and Derek M. Johnson, Esq., at Ruben,
Johnson and Morgan, represent Reunion Industries as counsel.

As reported in the Troubled Company Reporter on April 11, 2009,
as of February 28, 2009, the Debtor had $21,930,000 in total
assets, $12,031,000 in total liabilities, and $9,899,000 in total
stockholders' equity.


SEMGROUP LP: Incurs $9.63 Million Net Loss for May 31
-----------------------------------------------------
                       SemCrude, L.P., et al.
                   Consolidating Balance Sheet
                        As of May 31, 2009

Cash                                               $607,029,000
Accounts Receivable                                  63,014,000
Receivable from affiliate                           139,677,000
Inventories                                         118,376,000
Derivative asset                                      1,408,000
Margin deposits                                      11,255,000
Other current assets                                 27,511,000
                                                ---------------
Total current assets                              $968,270,000

Property, plant and equipment                       376,396,000
Accumulated depreciation                            (78,066,000)
Pipeline linefill                                     8,898,000
                                                ---------------
Property, plant and equipment, net                  307,228,000

Investment in subsidiaries                          378,014,000
Goodwill                                              4,746,000
Investment in affiliates                            110,641,000
Accounts receivable long-term                       662,384,000
Note receivable - CAMS                              137,732,000
Other assets, net                                    35,375,000
                                                ---------------
Total assets                                    $2,604,390,000
                                                ===============

Subject to Compromise
Accounts payable                                   $922,772,000
Accrued liabilities                               1,118,247,000
Current portion of long-term debt                   150,000,000
                                                ---------------
Total current liabilities                        2,191,019,000

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

Not Subject to Compromise
Accounts payable                                     48,112,000
Accrued liabilities                                  66,690,000
Deferred revenue                                        642,000
Derivative liabilities                                8,092,000
Current portion of long-term debt                   132,205,000
                                                ---------------
Total current liabilities                          255,741,000

Capital lease obligations                               231,000
Deferred tax liability                                   20,000
Investment in affiliates                            613,918,000
Other long-term liabilities                             213,000

Accum other comprehensive income                    (17,381,000)
Partners' capital                                (3,491,950,000)
                                                ---------------
Total partners' capital                          (3,509,331,000)

Total liabilities and
partners' capital                               $2,604,390,000
                                                ===============

                        SemCrude, L.P., et al.
                   Consolidating Income Statement
                  For the Period from May 1 to 31, 2009

Sales
Operating Outside Sales
Product Sales                                       $82,356,000
Services                                              3,199,000
Other Operating Revenue                                 953,000
                                                ---------------
Total Outside Operating Sales                        86,508,000

Trading activity                                              -
                                                ---------------
Total Outside Operating Revenue                      86,508,000

Operating Revenue Intercompany                       11,528,000
                                                ---------------
Total Operating Revenue                              98,036,000

Unrealized G/L on Derivatives                        (8,187,000)
                                                ---------------
Total Revenue                                        89,849,000

Cost of Goods Sold
Products                                            75,241,000
Transportation & Fuel                                1,562,000
Other                                                   18,000
                                                ---------------
Total Outside Cost of Goods Sold                     76,821,000

Cost of Goods Sold Intercompany                      10,963,000
                                                ---------------
Total Cost of Sales                                  87,774,000

Operating Expenses
Wages and benefits                                   2,520,000
Field Expenses                                       1,500,000
Maintenance & repairs                                  334,000
Outside Services                                       348,000
Property & Equipment Leases & Rents                  3,150,000
Insurance Permits licenses Taxes                       544,000
Office                                                 127,000
Travel Lodging Meetings                                141,000
Other                                                  (60,000)
                                                ---------------
Total Operating Expenses                             8,604,000

General & Administrative Expenses
Wages & Benefits                                     2,565,000
Miscellaneous                                                0
Maintenance & Repairs                                   13,000
Outside Services                                       882,000
Property & Equipment Leases & Rents                    297,000
Insurance Permits licenses Taxes                       385,000
Office                                                 384,000
Travel Lodging Meetings                                117,000
Other                                                  276,000
                                                ---------------
Total General & Administrative Expenses              4,919,000

Earnings before
interest Taxes Deprn Amort                          (11,448,000)

Other (Income) Expenses
Interest Income                                          (6,000)
Other Income                                           (555,000)
Foreign Currency Transaction (Income) Loss             (635,000)

Interest Expense                                      1,187,000

Depreciation                                         (2,611,000)

Amortization                                           (205,000)

Reorganization                                        1,007,000
                                                ---------------
Net Loss                                            ($9,630,000)
                                                ===============

Total disbursement for the period from May 1 to 31, 2009,
aggregate $50,600,041.

                          About SemGroup

SemGroup, L.P., -- http://www.semgrouplp.com/-- is a midstream
service company that provides diversified services for end users
and consumers of crude oil, natural gas, natural gas liquids and
refined products.  Services include purchasing, selling,
processing, transporting, terminalling and storing energy.
SemGroup serves customers in the United States, Canada, Mexico and
Wales.

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

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

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

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

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


SPECTRUM BRANDS: Records $49.14MM Loss for Month Ended June 28
--------------------------------------------------------------

                    Spectrum Brands, Inc.
                 Consolidated Balance Sheet
                     As of June 28, 2009

Cash and cash equivalents                            $8,030,147
Net trade receivables                               169,788,314
Intercompany receivables                                     (1)
Other trade receivables - calc                        9,333,750
Net inventories                                     381,038,096
Assets held for sale                                    316,225
Prepaid expenses & other                             21,943,737
Total deferred tax assets - current                   6,536,010
                                                  -------------
Total current assets                                596,986,279

Net Property, Plant & Equipment                      87,144,241
Long-term receivable                                     73,748
Long-term receivable - intercompany                          (0)
Total deferred tax assets - L/T                               -
Deferred charges - other                              6,366,076
Debt issuance costs                                  19,338,440
Investments - partially owned co.                       817,330
Miscellaneous - other assets                          7,923,135
                                                 --------------
Deferred charges and other, net                      34,518,730

Goodwill                                             60,976,962
Intangible assets - other                           496,793,200
Investments - consolidated co.                                0
Investments in subsidiaries                                   0
                                                 --------------
Total assets                                     $1,276,419,413
                                                 ==============

Current Liabilities:
Total current debt                                  $96,836,804
Accounts payable - intercompany                              (0)
Total accounts payable                              105,067,503
Accrued wages & benefits                             39,842,548
Accrued taxes O/T Inc. Payroll                        2,898,636
Accrued interest payable                            100,830,369
Current deferred tax liabilities                              -
Income taxes payable                                    325,425
Other accrued expenses                               88,334,859
Wages, benefits and other                           232,231,837
Accrued special charges                              23,464,085
                                                 --------------
Total current liabilities                           457,600,230

Long term debt intercompany                                  (0)
Total long term debt                              2,409,007,214
Total employee benefit obligations                    6,190,658
Total deferred tax liabilities                      128,549,908
Other long-term liabilities                           7,809,574
Minority interest                                             -
Corporate control                                             -
Other liabilities                                   138,359,482
                                                 --------------
Total liabilities                                $3,009,157,584
                                                 ==============
Total equity                                     (1,732,738,171)
                                                 --------------
Total liabilities and equity                     $1,276,419,413
                                                 ==============

                      Spectrum Brands, Inc.
         Consolidated Statement of Income from Operations
                For the period ending June 28, 2009

Net Sales                                          $154,309,574
Cost of goods sold                                   97,591,022
Restructuring and related charges                     4,599,469
                                                   ------------
Gross profit                                         52,119,083

Operating expenses:
Selling                                              17,336,360
General and Administrative                           11,917,788
Research and development                              2,640,005
Restructuring and related charges                     1,908,754
Goodwill and intangibles impairment                           -
                                                   ------------
Total operating expenses                             33,802,907

Operating income                                     18,316,175

Interest expense                                     27,046,529
Other income, net                                        81,322
                                                   ------------
Income from continuing operations
before income taxes                                 (8,811,674)

Income tax expense                                   (3,211,297)
                                                   ------------
Income from continuing operations                    (5,600,375)
As Tabulated                                         (5,600,377)

Loss from discontinued operations, net                        -

Reorganization items                                 43,540,161
                                                   ------------
Net (loss)/income                                  ($49,140,535)
                                                   ============

                     Spectrum Brands, Inc.
               Cash Receipts and Disbursements
             For the period ending June 28, 2009

Cash, beginning of month                             $7,015,246
Receipts:
Cash sales                                                    0
Collections of Accounts receivable                   60,210,147
Loans & advances                                    119,730,494
Sale of assets                                                -
Other                                               126,471,261
                                                 --------------
Total receipts                                      306,411,904

Disbursements:
Net payroll                                           4,720,558
Payroll taxes paid                                    2,139,169
Sales, use & other taxes paid                           234,905
Secured/rental/leases                                   962,122
Utilities & telephone                                   313,098
Insurance                                                62,500
Inventory purchases                                  30,400,712
Vehicle expenses                                              0
Travel & entertainment                                  258,034
Repairs, maintenance & supplies                         979,989
Administrative & selling                              1,386,772
Adequate protection payment(s)                                0
Other                                               261,621,807
                                                  -------------
Total disbursements from operations                 303,079,669

Professional fees                                     2,397,706
U.S. Trustee fees                                             0
Other reorganization expenses                         3,460,994
                                                  -------------
Total Disbursements                                 308,938,370
                                                  -------------
Net cash flow                                        (2,526,466)

Cash - end of month                                  $4,488,780
                                                  =============

                      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)


TOUSA INC: Posts June Loss, Cash Grows Almost $10 Million
---------------------------------------------------------
According to Bill Rochelle at Bloomberg News, Tousa Inc. reported
a $11.4 million net loss in June on $54.9 million in sales.
Liquidity grew by $9.9 million, ending the month at $273 million
in cash and cash equivalents. Sales for the year so far are
$294 million, producing a net loss of $99.7 million.

Headquartered in Hollywood, Florida, TOUSA Inc. (Pink Sheets:
TOUS) -- http://www.tousa.com/-- fka Technical Olympic U.S.A.
Inc., dba Technical U.S.A., Inc., Engle Homes, Newmark Homes L.P.,
TOUSA Homes Inc. and Newmark Homes Corp. is a leading homebuilder
in the United States, operating in various metropolitan markets in
10 states located in four major geographic regions: Florida, the
Mid-Atlantic, Texas, and the West.

The Debtor and its debtor-affiliates filed for separate Chapter 11
protection on January 29, 2008 (Bankr. S.D. Fla. Case No. 08-
10928).  The Debtors have selected M. Natasha Labovitz, Esq.,
Brian S. Lennon, Esq., Richard M. Cieri, Esq., and Paul M. Basta,
Esq., at Kirkland & Ellis LLP; and Paul Steven Singerman, Esq., at
Berger Singerman, to represent them in their restructuring
efforts.  Lazard Freres & Co. LLC is the Debtors' investment
banker.  Ernst & Young LLP is the Debtors' independent auditor and
tax services provider.  Kurtzman Carson Consultants LLC acts as
the Debtors' Notice, Claims & Balloting Agent.

TOUSA's direct subsidiary, Beacon Hill at Mountain's Edge LLC dba
Eagle Homes, filed for Chapter 11 Protection on July 30, 2008
(Bankr. S.D. Fla. Case No. 08-20746).  It listed assets between
$1 million and $10 million, and debts between $1 million and
$10 million.

The Official Committee of Unsecured Creditors hired Patricia A.
Redmond, Esq., and the law firm Stearns Weaver Weissler Alhadeff &
Sitterson, P.A., as its local counsel.

TOUSA Inc.'s balance sheet at June 30, 2008, showed total assets
of $1,734,422,756 and total liabilities of $2,300,053,979.

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


TRIBUNE CO: Reports $18.17MM Income for May 2009; Has $702MM Cash
-----------------------------------------------------------------

                     Tribune Company, et al.
                Condensed Combined Balance Sheet
                       As of May 24, 2009

ASSETS

Current Assets:
  Cash and cash equivalents                       $710,893,000
  Accounts receivable, net                          50,604,000
  Inventories                                       29,399,000
  Broadcast rights                                 211,107,000
  Prepaid expenses and other                        87,329,000
                                               ---------------
Total current assets                             1,089,332,000

Property, plant and equipment, net               1,335,448,000

Other Assets:
  Broadcast rights                                 146,639,000
  Goodwill & other intangible assets             3,158,611,000
  Prepaid pension costs                              1,084,000
  Investments in non-debtor units                1,125,528,000
  Other investments                                 22,221,000
  Intercompany receivables from non-debtors      4,729,208,000
  Other                                            110,051,000
                                               ---------------
Total Assets                                   $11,718,122,000
                                               ===============

LIABILITIES & SHAREHOLDERS' EQUITY

Current Liabilities:
  Contracts payable for broadcast rights           $24,052,000
  Current portion of long-term debt                  2,141,000
  Accounts payable, accrued expenses, and other    252,024,000
                                               ---------------
Total current liabilities                          278,217,000

Pension obligations                                192,805,000
Long-term debt                                       9,993,000
Other obligations                                  294,996,000
                                               ---------------
Total Liabilities                                  776,011,000

Liabilities Subject to Compromise:
  Intercompany payables to non-debtors           4,457,910,000
  Obligations to third parties                  13,692,297,000
                                               ---------------
Total Liabilities Subject to Compromise         18,150,207,000

Shareholders' Equity (Deficit)                  (7,208,096,000)
                                               ---------------
Total Liabilities & Shareholders' Equity       $11,718,122,000
                                               ===============

                      Tribune Company, et al.
            Condensed Combined Statement of Operations
           For the Period April 27 through May 24, 2009

Total Revenue                                     $245,589,000

Operating Expenses:
  Cost of sales                                    133,108,000
  Selling, general and administrative               87,574,000
  Depreciation                                      12,980,000
  Amortization of intangible assets                  1,601,000
                                                 -------------
Total operating Expenses                           235,263,000
                                                 -------------
Operating Income                                    10,326,000
                                                 -------------
Net loss on equity investments                        (446,000)
Interest income, net                                    71,000
Management fee                                      (1,602,000)
Non-operating loss, net                             14,482,000
                                                 -------------
Loss before income taxes and reorg. costs           22,831,000

Reorganization costs                                (4,073,000)
                                                 -------------
Loss before income taxes                            18,758,000

Income taxes                                          (591,000)
                                                 -------------
Net profit                                         $18,167,000
                                                 =============

                      Tribune Company, et al.
             Combined Schedule of Operating Cash Flow
            For the Period April 27 through May 24, 2009

Beginning Cash Balance                            $710,944,000

Cash Receipts:
  Operating receipts                               238,243,000
  Other                                                      0
                                                 -------------
Total Cash Receipts                                238,243,000

Cash Disbursements
  Compensation and benefits                         94,236,000
  General disbursements                            138,609,000
  Reorganization, interest & fees                    3,502,000
                                                 -------------
Total Disbursements                                236,347,000
                                                 -------------
Debtors' Net Cash Flow                               1,896,000

From/(To) Non-Debtors                              (12,225,000)
                                                 -------------
Net Cash Flow                                      (10,330,000)
Other                                                1,395,000
                                                 -------------
Ending Available Cash Balance                     $702,009,000
                                                 =============

                         About Tribune Co.

Headquartered in Chicago, Illinois, Tribune Co. --
http://www.tribune.com/-- is a media company, operating
businesses in publishing, interactive and broadcasting, including
ten daily newspapers and commuter tabloids, 23 television
stations, WGN America, WGN-AM and the Chicago Cubs baseball team.
The Company and 110 of its affiliates filed for Chapter 11
protection on December 8, 2008 (Bankr. D. Del. Lead Case No. 08-
13141).  The Debtors proposed Sidley Austion LLP as their counsel;
Cole, Schotz, Meisel, Forman & Leonard, PA, as Delaware counsel;
Lazard Ltd. and Alvarez & Marsal North Americal LLC as financial
advisors; and Epiq Bankruptcy Solutions LLC as claims agent.  As
of December 8, 2008, the Debtors have $7,604,195,000 in total
assets and $12,972,541,148 in total debts.

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



                           *********

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.  Danilo Munnoz, Joseph Medel C. Martirez, Denise Marie
Varquez, Philline Reluya, Ronald C. Sy, Joel Anthony G. Lopez,
Cecil R. Villacampa, Sheryl Joy P. Olano, Carlo Fernandez,
Christopher G. Patalinghug, and Peter A. Chapman, Editors.

Copyright 2009.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $775 for 6 months delivered via e-
mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Christopher
Beard at 240/629-3300.

                  *** End of Transmission ***