TCR_Public/090813.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

            Thursday, August 13, 2009, Vol. 13, No. 223

                            Headlines

ADVANTAGE ASSET: Moody's Withdraws 'Prime-1' Rating on ABCP
ALERIS INT'L: ABRP Proposes Sale of Certain Assets to Moreno
ALERIS INT'L: Alvarez & Marsal Bills $2.1MM for Feb. to June Work
ALERIS INT'L: To Assume 4 Ohio & Texas Office Leases
ALERIS INT'L: To Decide on Anchorage & Vanguar Pacts at Later Date

ALERIS INT'L: To Pay $4.6MM to Settle Clean Air Act Violations
ALESSANDRO CARWASH: Voluntary Chapter 11 Case Summary
ALLIANCE DPR: Fitch Withdraws 'CC' Issuer Default Rating
ALLIS-CHALMERS: Amends Agreements with CFO Victor Perez
ALLIS-CHALMERS: Discloses Five-Year Strategic Plan

AURORA OIL: Chapter 11 Filing Cues Delay of Quarterly Report
AUTOBACS STRAUSS: Asks for Nov. 18 Plan Exclusivity Extension
AVENTINE RENEWABLE: Court Sets September 8 General Claims Bar Date
AVENTINE RENEWABLE: Asks for Oct. 5 Extension for Ch. 11 Plan
AYERS CAPITOL PROPERTIES: Voluntary Chapter 11 Case Summary

BALL CORP: Fitch Assigns 'BB' Rating on $325 Mil. Senior Notes
BANKERS STORE: Says Board and Former Auditor Disagreed on Equity
BARRATT AMERICAN: Case Converted to Chapter 7 Liquidation
BERNARD MADOFF: $3.43BB in Claims Allowed; 9.5% Covered by SIPC
BERNARD MADOFF: DiPascali Charged by SEC for Securities Fraud

BERNARD MADOFF: Frank DiPascali Pleads Guilty to Fraud
BERRY PETROLEUM: S&P Affirms 'B' Rating on Planned Note Upsizing
BH S&B: Court Adjourns Ableco Conversion Motion to September 15
BRANDYWINE REALTY: Fitch Affirms Issuer Default Rating at 'BB+'
BRENT LEE GINTHER: Case Summary & 20 Largest Unsecured Creditors

BROADSTRIPE LLC: Plan Filing Deadline Moved to October 29
BRUNSWICK CORP: S&P Cuts Issue-Level Rating to 'B-' on Upsizing
CAJUN FUNDING: Moody's Withdraws 'B2' Corporate Family Rating
CARE FOUNDATION: Can Hire Greenberg Traurig as Regulatory Counsel
CASE NEW: Moody's Assigns 'Ba3' Rating on $1 Bil. Senior Notes

CDX GAS: Court Approves Second Amended Disclosure Statement
CHARTER COMMUNICATIONS: Amends P. Allen & Noteholders Pacts
CHARTER COMMUNICATIONS: Reports $112 Million Net Loss in 2nd Qrtr
CHEMTURA CORP: Has 117 Million Net Loss for Quarter Ended June 30
CHEMTURA CORP: Invista Proposes Set-Off of Mutual Debts

CHEMTURA CORP: Proposes Oct. 30 as Claims Bar Date
CHEMTURA CORP: U.S. Trustee Adds 3 to Creditors Committee
CHRISTOPHER VELLANTI: Case Summary & 20 Largest Unsec. Creditors
CHRYSLER LLC: Creditors Panel Wants to Pursue Claims vs. Daimler
CHRYSLER LLC: Court Sets September 28 Claims Bar Date

CHRYSLER LLC: Initial Public Offering Unlikely for 2010
CHRYSLER LLC: New Chrysler Reports Sales Hike From June Level
CHRYSLER LLC: Obama Asked to Compel Assumption of Product Claims
CHRYSLER LLC: Canada July 2009 Sales Increase 73%
COASTLINE MANUFACTURING: Case Summary & Creditors List

COMMERCIAL VEHICLE: Moody's Changes Default Rating to 'Caa2/LD'
CONGOLEUM CORP: Swings to $942,000 Net Loss for June 30 Quarter
CRUSADER ENERGY: Shareholders Ask for Own Committee
CRUSADER ENERGY: Vinson & Elkins Bills $2.3MM for April-June Work
DANA HOLDING: Breaks Even on $1.19-Bil. of Revenues in Q2

DANA HOLDING: Wallace to Head Heavy Vehicle Production Unit
DARREL DAVIDSON: Case Summary & 20 Largest Unsecured Creditors
DELTA MUTUAL: June 30 Balance Sheet Upside-Down by $885,000
DELTA MUTUAL: Posts $455,513 Net Loss for June 30 Quarter
DONALD BRANDT: Taps Sheila Norman and Amy Boohaker as Attorneys

DUANE READE: Amends Supplemental Indenture With US Bank
DUANE READE: Moody's Raises Default Rating to 'Caa1/LD'
DUANE READE: S&P Raises Corporate Credit Rating to 'B-'
EAST COAST SANITATION: Files Chapter 11 Petition in Newark
EDT FUNDING: Moody's Upgrades Rating on Secured Bonds From 'B3'

EDWARD PARK III: Case Summary & 20 Largest Unsecured Creditors
ENERGYCONNECT GROUP: Names Andrew Warner as CFO and Secretary
ENNIS HOMES: Can Use Cash Collateral Until August 31
ENNIS HOMES: Files New Schedules of Assets and Liabilities
EPICEPT CORP: Posts $7.1 Million Second Quarter 2009 Net Loss

EPIXTAR CORP: Files New Ch. 11 Plan; Laurus Gets Majority Stake
FOOTHILLS RESOURCES: Wants DIP Facility Extended to November 30
FRAMINGHAM 4 BISHOP: Case Summary & 11 Largest Unsecured Creditors
FRONTIER AIRLINES: Republic & Southwest to Face Off Today
GREEKTOWN HOLDINGS: Amends Plan & Disclosure Statement

GREEKTOWN HOLDINGS: City of Detroit Sues for Contract Breach
GREEKTOWN HOLDINGS: Committee Wants Rejection Letter in Plan Docs.
GREEKTOWN HOLDINGS: Luna & Plainfield File Alternative Plan
GREEKTOWN HOLDINGS: Posts Record Revenues for 3 Straight Months
HUNTSMAN INTERNATIONAL: S&P Assigns 'B-' Rating on $600 Mil. Notes

JAMES MICHAEL MATHENY: Case Summary & 20 Largest Unsec. Creditors
JEFFERSON COUNTY: Alabama House Approves Occupational Tax
JOHN THOMAS: Case Summary & 23 Largest Unsecured Creditors
JOLINA TEX: Files for Chapter 11 Bankruptcy Protection
KARLATA INVESTMENTS: Case Summary & 11 Largest Unsecured Creditors

LEHMAN BROTHERS: NY Court Holds Hearing on Swap Agreement Dispute
LIFE UNIVERSITY: Moody's Holds 'Ba3' Rating on 2008 Revenue Bonds
LONE WOLF GENERAL: Case Summary & 15 Largest Unsecured Creditors
LYONDELL CHEMICAL: Creditors to Seek Bankruptcy Examiner
MARKETING WORLDWIDE: June 30 Balance Sheet Upside-Down by $1.9MM

MAXXAM INC: Has $10.2-Mil. Q2 Loss; Palco Ch 11 May Have Impact
MC HAMMER: Says Amount Owed to IRS Are From 1996 Bankruptcy Filing
MD MOODY: Can Access Wachovia's Cash Collateral Until August 28
MD MOODY: Proposes Thames & Markey as Bankruptcy Counsel
MD MOODY: Wants Schedules Filing Extended Until August 24

MD MOODY: Wants to Sell Crane to I-Quip for $650,000
MEDIACOM LLC: Moody's Assigns 'Ba3' Rating on $200 Mil. Loan D
MEDIACOM LLC: S&P Assigns 'B-' Rating on $300 Mil. Senior Notes
MEGA MEDIA: Files for Chapter 11 Bankruptcy Protection
METALDYNE CORP: Court OKs Sale of Assets to Carlyle Group

MHG CASA: Chapter 11 Filing Delays Foreclosure Auction
MHG CASA: Case Summary & 20 Largest Unsecured Creditors
MIRABILIS VENTURES: Sending Plan to Creditors for Voting
NEWMARKET CORPORATION: Moody's Gives Pos. Outlook on 'Ba2' Rating
NORTEL NETWORKS: Ex-CEO Zafirovski Becomes Creditor

NOVELOS THERAPEUTICS: June 30 Balance Sheet Upside-Down by $25MM
NOVELOS THERAPEUTICS: Posts $4.8 Million Net Loss for June 30 Qtr
PACIFIC ETHANOL: Reports $28.27-Mil. Net Loss in 2nd Quarter
PARK AVENUE: Voluntary Chapter 11 Case Summary
PHELPS BROTHERS: Case Summary & 20 Largest Unsecured Creditors

PHILADELPHIA NEWSPAPERS: Hopes $35MM in New Funding to Settle Debt
PLAINFIELD APARTMENTS: Bankruptcy Halts Foreclosure Action
PRICE PROMENADE: Voluntary Chapter 11 Case Summary
PROLIANCE INT'L: PBGC Moves to Protect Underfunded Pensions
QUICKSILVER RESOURCES: Moody's Puts 'B2' Rating on $250 Mil. Notes

QUICKSILVER RESOURCES: S&P Assigns 'B' Rating on $250 Mil. Notes
QWEST COMMUNICATIONS: S&P Affirms 'BB' Corporate Credit Rating
RAINBOW 215: Files List of 20 Largest Unsecured Creditors
RAINBOW 215: U.S. Trustee Sets Meeting of Creditors for Sept. 3
RED MOUNTAIN MACHINERY: Voluntary Chapter 11 Case Summary

REGINA PAVONE: Voluntary Chapter 11 Case Summary
ROCKY MOUNTAIN: Case Summary & 20 Largest Unsecured Creditors
SAINT VINCENT: July Post-Confirmation Status Report
SAINT VINCENT: Litigation Trustee Settles With McDermott
SAINT VINCENT: Sells 2 Bayley Seton Lots for $7.6 Million

SGS INTERNATIONAL: S&P Gives Stable Outlook; Affirms 'B+' Rating
SHAFER DEVELOPMENT: Case Summary & 20 Largest Unsecured Creditors
SMURFIT-STONE CONTAINER: Execs. Get Bonuses as EBITDA Goal Met
SMURFIT-STONE CONTAINER: Posts $158 Mil. Net Income for 2nd Qrtr
SMURFIT-STONE CONTAINER: To Sell Timberlands to SocGen Quebec

SMURFIT-STONE CONTAINER: U.S. Trustee Opposes M&T to Committee
SPICEWOOD DEVELOPMENT: Case Summary & Largest Unsecured Creditor
SPRINT NEXTEL: S&P Assigns 'BB' Rating on $1.3 Bil. Senior Notes
STANFORD GROUP: Asset Freeze Extended Pending Claw-Back Appeal
STANT PARENT: Section 341(a) Meeting Set for September 8

STANT PARENT: Employs Mesirow Financial as Advisor
STANT PARENT: Gets Initial OK to Access GMAC's $11MM DIP Financing
STANT PARENT: Seeks to Employ Greenberg Traurig as Counsel
STANT PARENT: U.S. Trustee Forms Five-Member Creditors' Panel
SUNSET SUITES: Case Summary & 7 Largest Unsecured Creditors

THAKOR LLC: Voluntary Chapter 11 Case Summary
TRIBUNE CO: Launches Local Blog Network ChicagoNow.Com
TRIBUNE CO: Plan Filing Deadline Moved to November 30
TRIBUNE CO: U.S. Trustee, Union Object to Mgt. Incentive Plan
TRONOX INC: Barroway Topaz Files Class Action on Spin-Off

TRW AUTOMOTIVE: Equity Issuance Won't Affect S&P's 'B' Rating
UBS AG: Settles U.S. Lawsuit, To Sign Final Pact
VERASUN ENERGY: To Auction Off 1,600 Acres of Illinois Farmland
VINEYARD CHRISTIAN: Ch 11 Trustee May Hire Weiland as Spl Counsel
XOMA LTD: June 30 Balance Sheet Upside-Down by $18.3 Million

* Bankruptcy Filings Rise in New Hampshire & Charlotte
* Distressed Debt Rises to $84.4 Billion This Year

* Fitch Reports Moderate Financial Risk for Restaurant Industry
* ISDA Launches Web Site to Provide Info on CDS Market

* Chapter 11 Cases With Assets and Liabilities Below $1,000,000

                            *********

ADVANTAGE ASSET: Moody's Withdraws 'Prime-1' Rating on ABCP
-----------------------------------------------------------
At the issuer's request, Moody's has withdrawn the Prime-1 rating
of the ABCP issued by Advantage Asset Securitization Corporation,
a partially supported, multiseller ABCP program administered by
the Mizuho Corporate Bank, Ltd. (Aa3/Prime-1/D+).  As of August 3,
2009, all outstanding ABCP had been repaid in full.  Advantage
Asset Securitization Corporation will not issue any further ABCP
under its program.

Complete rating action is:

* Up to $5 billion of Asset Backed Commercial Paper: Prime-1
  withdrawn; previously affirmed Prime-1 on November 5, 2007


ALERIS INT'L: ABRP Proposes Sale of Certain Assets to Moreno
------------------------------------------------------------
Debtor Aleris Blanking and Rim Products, Inc., seeks permission
from Judge Brendan L. Shannon of the U.S. Bankruptcy Court for the
District of Delaware to sell equipment, inventory, real property,
and certain lease in accordance with an Asset Purchase Agreement,
dated July 22, 2009, to Moreno Industries, Inc., for $925,000,
free and clear of all liens, claims and interests.

A list of the equipment, inventory and real property, which
Aleris Blanking proposes to sell is available for free at:

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

In March 2009, ABRP announced the closure of its blanking and rim
businesses and the shutdown of its sole facility in Terre Haute,
Indiana.  ABRP asserts that because it is shutting down its
blanking and rim businesses, the equipment, inventory and real
property associated with those businesses generate no substantial
value to its estates.

In accordance with the terms of its APA with Moreno Industries,
ABRP also contemplates to assume and assign to Moreno a
Commercial Lease, dated as of October 1, 2007, between ABRP, as
lessor, and Myers Engineering, Inc., as lessee.  Because the real
property associated with the Lease will be sold as part of the
Moreno transaction, ABRP has determined it is appropriate to
include the Lease as part of the assets to be sold.  ABRP tells
the Court that it continues to perform all obligations under the
Lease and thus, no default exists that is require to be cured
prior to the assumption of the Lease.

A full-text copy of the ABRP-Moreno APA is available for free at:

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

According to ABRP, the proposed APA is a culmination of a five-
month marketing and negotiation process whereby it solicited and
received various offers, engaged in significant diligence and
negotiations, and eventually conducted a private auction between
two potential purchasers.

The parties contemplate a closing of the proposed sale to occur
on August 28, 2009.

                    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)


ALERIS INT'L: Alvarez & Marsal Bills $2.1MM for Feb. to June Work
-----------------------------------------------------------------
Pursuant to Sections 330 and 331 of the Bankruptcy Code, several
professionals in Aleris International Inc.'s Chapter 11 cases
sought the allowance of fees for services they rendered and the
reimbursement of their expenses they incurred for these periods:

A. Debtors' Professionals

Professional             Period            Fees      Expenses
------------             ------          --------    --------
Ernst & Young LLP       06/01/09-
                         06/30/09          $75,164        $948

PricewaterhouseCoopers  05/01/09-
LLP                     06/30/09           12,110          21

Alvarez & Marsal North  05/01/09-
America, LLC            05/31/09          619,941      18,263

Alvarez & Marsal North  06/01/09-
America, LLC            06/30/09          237,021      17,650

Alvarez & Marsal North  02/12/09-
America, LLC            06/30/09        2,161,233      97,552

Richards, Layton &      06/01/09-
Finger, P.A.            06/30/09           24,511         567

Fried, Frank, Harris,   06/01/09-
Shriver & Jacobson LLP  06/30/09           92,224       3,161

Weil, Gotshal & Manges  06/01/09-
LLP                     06/30/09          292,918      10,626

Moelis & Company LLC    06/01/09-
                         06/30/09          200,000       6,698

Weil Gotshal serves as the Debtors' attorneys.  Alvarez & Marsal
is the Debtors' restructuring advisor.  Ernst & Young is the
Debtors' auditors.  PricewaterhouseCoopers is the Debtors'
special accountants.  Alvarez & Marsal serves as the Debtors'
restructuring advisors.  Richards Layton is the Debtors' co-
counsel.  Fried Frank serves as the Debtors' special financing,
corporate, tax and litigation counsel.  Moelis serves as the
Debtors' financial advisor.

The Debtors informed the Court they received no objections as to
the fee applications of these professionals for these fee
periods:

Professional                                 Fee Period
------------                                 ----------
Weil, Gotshal & Manges LLP                05/01/09-05/31/09
PricewaterhouseCoopers LLP                02/12/09-04/30/09
Fried Frank Harris Shriver & Jacobson LLP 04/01/09-05/31/09
Richards, Layton & Finger, P.A.           05/01/09-05/31/09
Moelis & Company LLC                      05/01/09-05/31/09

B. Professionals of the Official Committee of Unsecured Creditors

Professional               Period            Fees     Expenses
------------               ------        --------     --------
Reed Smith LLP           06/01/09-
                         06/30/09        $128,395       $3,553

Landis Rath & Cobb LLP   02/25/09-
                         05/31/09          60,639        1,348

Reed Smith serves as the Committee's counsel.  Landis Rath serves
as the Committee's counsel.

The Committee said it received no objections as to the fee
application of Reed Smith LLP for the period from May 1 through
May 31, 2009.

                    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)


ALERIS INT'L: To Assume 4 Ohio & Texas Office Leases
----------------------------------------------------
Prior to the Petition Date, the Debtors entered into various
office space and storage facility leases in the ordinary course
of their businesses.  The Debtors initially identified four of
those Leases, which they intend to assume.  Subsequently, on
July 30, 2009, the Debtors delivered to the Court a revised list
of leases they want to assume pursuant to Section 365 of the
Bankruptcy Code.

The Leases are:

Debtor Lessor        LandLord         Lease Type      Cure Amt.
-------------        --------         ----------      ---------
Aleris Int'l. Inc.   CTPartners       Corporate        $22,404
                     Executive        Headquarters
                     Search LLC

Aleris Int'l. Inc.   Gotham King      Corporate        $14,887
                     Fee Owner LLC    Headquarters

Aleris Int'l. Inc.   DMT MacArthur,   IT Office Lease ($69,199)
                     L.P.

Commonwealth         Teachers         Aerospace           $617
Aluminum Sales       Insurance &      Sales Office
Corp.                Annuity Asso.
                     of America

The headquarters office premises are located in Beachwood, Ohio,
the IT office is located in Irving, Texas, and the aerospace
sales office is in Kent, Washington.

At the Debtors' behest, Judge Shannon authorizes the Debtors to
assume the Leases.

                    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)


ALERIS INT'L: To Decide on Anchorage & Vanguar Pacts at Later Date
------------------------------------------------------------------
Aleris Int'l Inc. and its affiliates ask the Court to extend the
deadline by which they must make a decision on whether to assume
or reject two leases through these dates:

                                            Deadline to
   Counterparty to Lease                   Decide on Lease
   ---------------------                   ---------------
   Anchorage Restoration, LLC              September 30, 2009
   1700 Eastpoint Parkway, Suite 200
   Louisville, Kentucky

   Vanguard Property Group, LLC            December 31, 2009
   220 Horizon Dr., Suite 218
   Raleigh, North Carolina

The Debtors assert that the sought extension on their lease
decision period would enable them to:

  (a) perform an full and accurate analysis of the Leases;

  (b) determine the scope of their future use of the Leases in
      the context of their revised business plan; and

  (c) avoid a premature assumption or rejection decision with
      respect to the Leases.

The Debtors tell the Court that the lessors under the Anchorage
Lease and the Vanguard Lease have consented to their proposed
lease decision period extension.

Accordingly, the Court grants the Debtors' request.

Prior to the entry of Court's ruling, the Debtors certified no
objection was filed with respect to their request.

                    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)


ALERIS INT'L: To Pay $4.6MM to Settle Clean Air Act Violations
--------------------------------------------------------------
Aleris International Inc., one of the nation's largest aluminum
recyclers, and 13 of its subsidiaries have committed to implement
environmental improvements and controls projected to cost
$4.2 million at 15 plants located in 11 states, the Justice
Department and U.S. Environmental Protection Agency (EPA)
announced.

The company also agreed to a $4.6 million civil penalty to resolve
violations of the Clean Air Act, which will be allowed as
an unsecured claim in Aleris's bankruptcy proceeding pending in
Delaware.

Aleris uses recycled beverage cans, scrap, and other materials to
produce aluminum in liquid or ingot form.  Part of the aluminum
production process causes emissions of pollutants such as dioxins
and furans, hydrogen chloride, and particulate matter.

The consent decree requires Aleris to better enclose its furnaces
to improve the capture of emissions, retest every furnace using
model test protocols, adopt model recordkeeping and reporting
documents, and install pollution control or monitoring equipment
at particular facilities.  The settlement is expected to reduce
annual emissions of particulate matter by up to 24,000 pounds,
hydrogen chloride by up to 870,000 pounds, and dioxins and furans
by up to one pound per year.  Dioxins and furans, created during
incineration, are known to cause cancer and are extremely toxic at
low levels.

"This settlement, including the significant civil penalty, will
help to protect human health and the environment by bringing one
of the country's largest secondary aluminum companies into
compliance with the Clean Air Act's rules for the industry," said
John C. Cruden, Acting Assistant Attorney General for the Justice
Department's Environmental and Natural Resources Division.  "It
will also serve as notice to the rest of the industry that we
will vigorously enforce the Act and rules."

"Today's settlement sets a new standard for aluminum recyclers
nationwide," said Cynthia Giles, Assistant Administrator of EPA's
Office of Enforcement and Compliance Assurance.  "This will
ultimately result in cleaner air for the people living near Aleris
facilities throughout the country."

In a complaint filed last February in the U.S. District Court for
the Northern District of Ohio, the United States alleged that
Aleris violated the National Emission Standards for Hazardous Air
Pollutants for Secondary Aluminum Production, which became
effective in 2003.  The complaint alleged that Aleris failed to
design and install adequate systems to capture emissions of
pollutants, to demonstrate compliance with federal emission
standards through adequate performance testing, to correctly
establish and monitor operating parameters, and to comply with
recordkeeping and reporting requirements.

The settlement requires Aleris and its subsidiaries to implement
pollution controls and take other compliance measures at
facilities located in Goodyear, Ariz.; Post Falls, Idaho;
Morgantown and Lewisport, Ky.; Chicago Heights, Ill.; Wabash,
Ind.; Coldwater and Saginaw, Mich.; Uhrichsville, Ohio; Sapulpa,
Okla.; Loudon and Shelbyville, Tenn.; Richmond, Va.; and
Friendly, W.Va. The states of Idaho, Illinois, Indiana, Kentucky,
Michigan, Ohio, Oklahoma, Tennessee, Virginia, and West Virginia
and Maricopa County, Ariz., joined today's settlement and will
share a portion of the civil penalty.  This is the largest number
of facilities ever included in a Clean Air Act settlement
involving the secondary aluminum production industry.

Dioxins and furans bioaccumulate, or accumulate in higher than
normal concentrations, in fish and other fatty foods and disrupt
brain development and hormone systems, particularly in developing
fetuses.  Hydrogen chloride can be corrosive to the eyes, skin,
and mucous membranes, and both short- and long-term exposure are
linked to a number of respiratory and other health effects.
Exposure to particulate matter is also linked to respiratory
problems like asthma and other adverse health effects.

The consent decree, lodged in the U.S. District Court for the
Northern District of Ohio, is subject to a 30-day public comment
period and approval by both the district court and the U.S.
Bankruptcy Court for the District of Delaware.  A copy of the
consent decree is available on the Department of Justice Web
site at http://www.usdoj.gov/enrd/Consent_Decrees.html

                    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)


ALESSANDRO CARWASH: Voluntary Chapter 11 Case Summary
-----------------------------------------------------
Debtor: Alessandro Carwash Inc.
            dba Alessandro Carwash
        23615 Alessandro Blvd
        Moreno Valley, CA 92553

Bankruptcy Case No.: 09-28341

Chapter 11 Petition Date: August 11, 2009

Court: United States Bankruptcy Court
       Central District of California (Riverside)

Judge: Richard M. Neiter

Debtor's Counsel: Sam Tabibian, Esq.
                  1801 Ave of the Stars, Suite 1025
                  Los Angeles, CA 90067
                  Tel: (310) 439-9153
                  Fax: (310) 432-5541
                  Email: sam.tabibian@gmail.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

The Company says it does not have unsecured creditors who are non
insiders when they filed their petition.

The petition was signed by Freydoon Esmaili, president of the
Company.


ALLIANCE DPR: Fitch Withdraws 'CC' Issuer Default Rating
--------------------------------------------------------
Fitch Ratings has withdrawn all Issuer Default Ratings assigned to
its portfolio of rated future flow transactions.  Currently all
future flow transactions rated by Fitch have issue ratings on
individual series equal to the IDRs being withdrawn.  It is
important to note that issue ratings, on individual issuances from
future flow trusts, have been maintained at their current levels.

This list indicates which ratings were withdrawn, along with all
relevant future flow issue ratings:

Alliance DPR Company:

  -- IDR of 'CC' Withdrawn;
  -- Series 2006-A 'AAA', Outlook Stable;
  -- Series 2006-B 'CC/RR4';
  -- Series 2007-A 'CC/RR4'.

CSN Export Trust:

  -- IDR of 'BBB' Withdrawn
  -- Series 2004-1 'BBB', Outlook Negative
  -- Series 2005-1 'BBB', Outlook Negative

Banistmo Credit Card Receivables Master Trust (Banco del Istmo):

  -- IDR of 'A-' Withdrawn;
  -- Series 2004 'A-', Rating Watch Positive.

CVRD Finance Ltd.:

  -- IDR of 'BBB+' Withdrawn;
  -- Series 2000-3 'BBB+', Outlook Stable;
  -- Series 2003-1 'BBB+', Outlook Stable.

Jamaica Diversified Payment Rights Company (NCB):

  -- IDR of 'BBB-' Withdrawn;
  -- Series 2006-1 'BBB-', Outlook Negative;
  -- Series 2007-1 'BBB-', Outlook Negative.

Pemex Finance:

  -- IDR of 'A' Withdrawn;
  -- Series 1998 6.30% Notes due 2010 'A', Outlook Stable;
  -- Series 1998 9.15% Notes due 2018 'A', Outlook Stable;
  -- Series 1999 9.69% Notes due 2009 'A', Outlook Stable;
  -- Series 1999 8.88% Notes due 2010 'A', Outlook Stable;
  -- Series 1999 7.33% Notes due 2012 'A', Outlook Stable;
  -- Series 1999 10.61% Notes due 2017 'A', Outlook Stable;
  -- Series 1999 LIBOR+ 3.50% Notes due 2014 'A', Outlook Stable;
  -- Series 1999 LIBOR+ 3.25% Notes due 2014 'A', Outlook Stable;
  -- Series 2000 9.03% Notes due 2011 'A', Outlook Stable;
  -- Series 2000 7.80% Notes due 2013 'A', Outlook Stable.

PF Export Receivables Master Trust (Petrobras):

  -- IDR of 'BBB+' Withdrawn;
  -- Series 2003-A 'BBB+', Outlook Stable;
  -- Series 2003-B 'BBB+', Outlook Stable.

Salvadoreno DPR Funding Ltd.:

  -- IDR of 'BBB+' Withdrawn;
  -- Series 2004-1 'BBB+', Outlook Stable;
  -- Series 2004-2 'BBB+', Outlook Stable.

Brazil Foreign Diversified Payment Rights Finance Co. (Banco
Santander S.A.):

  -- IDR of 'A' Withdrawn
  -- Series 2004-1 'A', Outlook Stable
  -- Series 2008-1 'A', Outlook Stable
  -- Series 2008-2 'A', Outlook Stable

CCR Inc.MT-100 Payment Rights Trust (Banco de Credito del Peru):

  -- IDR of 'A-' Withdrawn;
  -- Series 2008-A 'A-', Outlook Stable;
  -- Series 2008-B 'A-', Outlook Stable.

Brazilian Merchant Voucher Receivables Ltd. (Visanet):

  -- IDR of 'A-' Withdrawn;
  -- Series 2003-1 'A-', Outlook Stable;
  -- Series 2003-2 'A-', Outlook Stable.

Continental DPR Finance Company (BBVA-Banco Continental):

  -- IDR of 'A' Withdrawn;
  -- Series 2008-A 'A', Outlook Stable.


ALLIS-CHALMERS: Amends Agreements with CFO Victor Perez
-------------------------------------------------------
The Board of Directors of Allis-Chalmers Energy Inc., on August 3,
2007, awarded Victor M. Perez, the Company's Chief Financial
Officer, (i) 15,000 stock options and (ii) a performance award in
the amount of 25,000 shares of restricted stock, each to vest 20%
on the first anniversary of the grant date, 20% on the second
anniversary of the grant date and the remaining 60% on the third
anniversary of the grant date -- or any of the 15 subsequent
trading days following such dates -- or alternatively, any
unvested shares would cumulatively vest on August 3, 2010 -- or
any of the 30 subsequent trading days following such date -- each
such vesting subject to Mr. Perez achieving certain performance
criteria.

On August 5, Mr. Perez and the Company entered into an amendment
to the performance award agreement to remove the performance
condition related to the Company meeting street guidance and to
extend the cumulative vesting of such performance shares to vest
on August 3, 2011 -- or any of the 30 subsequent trading days
following such date -- based on a two-year look back period rather
than the previous three year look back period ending on August 3,
2010.  In consideration of the Performance Award Amendment,
Mr. Perez agreed to surrender to the Company the 15,000 stock
options previously granted to him on August 3, 2007.

In addition, on August 5, the Company entered into an amendment to
Mr. Perez' executive employment agreement to extend the term of
Mr. Perez' employment for an additional year to end on August 3,
2011.

                       About Allis-Chalmers

Houston, Texas-based Allis-Chalmers Energy Inc. (NYSE: ALY) --
http://www.alchenergy.com/-- is a multi-faceted oilfield services
company.  Allis-Chalmers provides services and equipment to oil
and natural gas exploration and production companies, domestically
primarily in Texas, Louisiana, New Mexico, Oklahoma, Arkansas,
offshore in the Gulf of Mexico, and internationally, primarily in
Argentina, Brazil and Mexico.  Allis-Chalmers provides directional
drilling services, casing and tubing services, underbalanced
drilling, production and workover services with coiled tubing
units, rental of drill pipe and blow-out prevention equipment, and
international drilling and workover services.

                           *     *     *

As reported by the Troubled Company Reporter on July 15, 2009,
Standard & Poor's Ratings Services raised its corporate credit
rating on Allis-Chalmers Energy to 'B-' from 'SD' (selective
default).  The outlook is negative.  At the same time, S&P raised
the issue-level rating on Allis-Chalmers' unsecured notes to 'B-'
(the same as the corporate credit rating) from 'D'.  S&P revised
the recovery rating on this debt to '4' from '3' indicating
expectations of average (30%-50%) recovery of principal in the
event of a payment default.

The TCR said July 9, 2009, Moody's Investors Service affirmed
Allis-Chalmers' B3 Corporate Family Rating, changed its
Probability of Default Rating to B3 from B3/LD, and upgraded its
$225 million 9% senior notes due 2014 to Caa1 (LGD 4, 62%) from
Caa3 (LGD 3, 35%) and its $205 million 8.5% senior notes due 2017
to Caa1 (LGD 4, 62%) from Ca (LGD 4, 40%).  The rating outlook is
stable.


ALLIS-CHALMERS: Discloses Five-Year Strategic Plan
--------------------------------------------------
Allis-Chalmers Energy Inc. on August 5, 2009, made available its
five-year strategic plan.  The Company believes the presentation
is useful to investors in that it provides general insight to the
Company's strategic goals.

The Company intends to become a global oilfield services company
with:

     -- at least 75% of its activities coming from outside North
        America in 2013; and

     -- a minimum revenue of $300 million from North America;

The Company also aims to break the $1 billion barrier for revenue
in 2013; achieve a monthly revenue greater than $100 million in or
before December 2013; and generate an EBITDA margin greater than
30% in 2013.

A full-text copy of the presentation filed with the Securities and
Exchange is available at no charge at:

               http://ResearchArchives.com/t/s?4177

On August 6, Allis-Chalmers filed with the Commission its report
on Form 10-Q for the period ended June 30, 2009, is available at
no charge at:

               http://ResearchArchives.com/t/s?4178

Allis-Chalmers reported a net loss for the second quarter of 2009
of $90,000, or $0.00 per diluted share, compared to net income of
$10.6 million, or $0.30 per diluted share in the second quarter of
2008.  Revenues for the second quarter of 2009 decreased 31.0% to
$112.5 million compared to $163.1 million for the second quarter
of 2008.

Allis-Chalmers reported a net loss for the first six months of
2009 of $2.7 million, or $0.08 per diluted share, compared to net
income of $18.6 million, or $0.53 per diluted share for the first
six months of 2008.  Results for the first six months of 2009
include a pre-tax gain of $26.4 million from the extinguishment of
debt and non-routine and restructuring charges totalling
$10.6 million.  The charges include a $3.6 million addition to the
allowance for bad debts, $1.8 million in restructuring charges
consisting of severance payments and the closing of certain yard
locations, a $3.2 million non-cash loss on asset dispositions and
inventory writedowns and $2.0 million of customer credits.

As of June 30, 2009, the Company had $1,103,521,000 in total
assets, and $600,160,000 in total liabilities.

Allis-Chalmers said it has reduced planned capital spending for
2009 compared to 2008.  It currently expects to spend a total of
roughly $25.0 million of capital expenditures for the remainder of
2009.  This amount includes budgeted but unidentified expenditures
which may be required to enhance or extend the life of existing
assets.

"We believe that our cash generated from operations, cash on hand
and cash available under our credit facilities will provide
sufficient funds for our identified projects and to service our
debt.  However, the decrease in drilling activity and the
resulting decrease in demand and pricing for our services has an
adverse impact on our cash flow from operations and our liquidity.
This could require us to raise external capital and we cannot be
assured such capital will be available to us, especially in the
current tight credit market and volatility in the equity market,"
Allis-Chalmers said.

                       About Allis-Chalmers

Houston, Texas-based Allis-Chalmers Energy Inc. (NYSE: ALY) --
http://www.alchenergy.com/-- is a multi-faceted oilfield services
company.  Allis-Chalmers provides services and equipment to oil
and natural gas exploration and production companies, domestically
primarily in Texas, Louisiana, New Mexico, Oklahoma, Arkansas,
offshore in the Gulf of Mexico, and internationally, primarily in
Argentina, Brazil and Mexico.  Allis-Chalmers provides directional
drilling services, casing and tubing services, underbalanced
drilling, production and workover services with coiled tubing
units, rental of drill pipe and blow-out prevention equipment, and
international drilling and workover services.

                           *     *     *

As reported by the Troubled Company Reporter on July 15, 2009,
Standard & Poor's Ratings Services raised its corporate credit
rating on Allis-Chalmers Energy to 'B-' from 'SD' (selective
default).  The outlook is negative.  At the same time, S&P raised
the issue-level rating on Allis-Chalmers' unsecured notes to 'B-'
(the same as the corporate credit rating) from 'D'.  S&P revised
the recovery rating on this debt to '4' from '3' indicating
expectations of average (30%-50%) recovery of principal in the
event of a payment default.

The TCR said July 9, 2009, Moody's Investors Service affirmed
Allis-Chalmers' B3 Corporate Family Rating, changed its
Probability of Default Rating to B3 from B3/LD, and upgraded its
$225 million 9% senior notes due 2014 to Caa1 (LGD 4, 62%) from
Caa3 (LGD 3, 35%) and its $205 million 8.5% senior notes due 2017
to Caa1 (LGD 4, 62%) from Ca (LGD 4, 40%).  The rating outlook is
stable.


AURORA OIL: Chapter 11 Filing Cues Delay of Quarterly Report
------------------------------------------------------------
Aurora Oil & Gas Corporation said its quarterly report on Form
10-Q for the quarter ended June 30, 2009, could not be filed
within the prescribed time period, because it has been focusing
its limited resources on its Chapter 11 bankruptcy proceedings and
maximizing the value of its assets.

The Company cannot predict when or if, based upon resolution of
the Debtors' relief cases, it expects to complete its review and
file its Quarterly Report on Form 10-Q for the quarter ended
June 30, 2009.

In lieu of filing the Form 10-Q, the Company plans to file, under
cover of a current report on Form 8-K, copies of the periodic
financial reports that are required to be filed with the Court
under Bankruptcy Rule 2015 within 15 days of the date they are due
to be filed with the Court.  The Company believes these monthly
financial reports will provide relevant current information to the
shareholders regarding the Company's business prospects and
overall financial condition.

                      About Aurora Oil & Gas

Based in Traverse City, Michigan, Aurora Oil & Gas Corporation
(Pink Sheets: AOGS) is an independent energy company focused on
unconventional natural gas exploration, acquisition, development
and production, with its primary operations in the Antrim Shale of
Michigan, the New Albany Shale of Indiana and Kentucky.

The Company and one affiliate filed for Chapter 11 protection on
July 12, 2009 (Bankr. W.D. Mich. Case Nos. 09-08254 and 09-08255).
Judge Scott W. Dales presides over the case.  Stephen B. Grow,
Esq., at Warner Norcross & Judd, LLP, in Grand Rapids, Michigan;
and Joel H. Levitin, Esq., and Richard A. Stieglitz, Jr., at
Cahill Gordon & Reindel LLP, in New York, serve as the Debtors'
counsel.  Aurora listed between $100 million and $500 million each
in assets and debts.


AUTOBACS STRAUSS: Asks for Nov. 18 Plan Exclusivity Extension
-------------------------------------------------------------
Autobacs Strauss Inc., asks the U.S. Bankruptcy Court for the
District of Delaware to extend its exclusive period to file a
Chapter 11 plan until November 18, 2009, and the corresponding
period to solicit acceptances of that plan until Jan. 18, 2010.

According to Carla Main at Bloomberg News, Autobacs said its
restructuring efforts are projected to generate savings of $10
million on an annualized basis.  Autobacs, the report relates,
added it is "now poised to execute on the emergence plan."
The Court will hear the proposed extension at a hearing on
August 21.

Headquartered in South River, New Jersey, Autobacs Strauss Inc. --
http://www.straussauto.com/-- sells after-market automotive parts
and accessories, and operate automotive service centers located in
New York, New Jersey, Philadelphia, Bethlehem and Pennsylvania.
The Company operates 86 retail store locations and has about 1,450
employees.  The Company filed for Chapter 11 protection on
February 4, 2009 (Bankr. D. Del. Case No. 09-10358).  Edward J.
Kosmowski, Esq., at Young Conaway Stargatt & Taylor, LLP,
represents the Debtor in its restructuring efforts.  As of
January 3, 2009, the Debtor had total assets of $75,000,000 and
total debts of $72,000,000.

The Chapter 11 case is Strauss's third.  The preceding Chapter 11
case ended with confirmation of a Chapter 11 plan in April 2007.
The Company was then named R&S Parts & Service Inc.


AVENTINE RENEWABLE: Court Sets September 8 General Claims Bar Date
------------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware has
established September 8, 2009, at 4:00 p.m., as the general bar
date for filing of proofs of claims in Aventine Renewable Energy
Holdings, Inc., et al.'s bankruptcy cases.

The bar date with respect to governmental units is October 5,
2009, at 4:00 p.m.

Original proofs of claim must be sent so as to be received on the
applicable bar date by:

    a) if by first-class mail:

       The Garden City Group, Inc.
       Attn: Aventine Renewable Energy Holdings, Inc.
             Claims Processing
       P.O. Box 9000 #6527
       Merrick, NY 11566-9000

    b) if by overnight courier or hand delivery:

       The Garden City Group, Inc.
       Attn: Aventine Renewable Energy Holdings, Inc.
             Claims Processing
       105 Maxess Road
       Melville, NY 11747

Pekin, Illinois-based Aventine Renewable Energy Holdings, Inc.
(Pink Sheets: AVRN) -- http://www.aventinerei.com/-- is a
producer and marketer of ethanol to many leading energy companies
in the United States.  In addition to ethanol, Aventine also
produces distillers grains, corn gluten meal, corn gluten feed,
corn germ and brewers' yeast.

Morgan Stanley Capital Partners IV bought Aventine in May 2003
from Williams Cos.  Aventine had a public offering in May 2006.
The Morgan Stanley group retained 28% of the stock at year's end.

The Company and its affiliates filed for Chapter 11 on April 7,
2009 (Bankr. D. Del. Lead Case No. 09-11214).  Joel A. Waite,
Esq., and Ryan M. Bartley, Esq., at Young, Conaway, Stargatt &
Taylor, serves as bankruptcy counsel to the Debtors..  Davis Polk
& Wardwell is special tax counsel and Houlihan, Lokey, Howard &
Zukin, Inc., is the financial advisor.  Garden City Group, Inc.,
has been engaged as claims agent.  Donald J. Detweiler, Esq., at
Greenberg Traurig, LLP, serves as counsel to the official
committee of unsecured creditors.  When it filed for protection
from its creditors, Aventine Renewable listed between $100 million
and $500 million each in assets and debts.


AVENTINE RENEWABLE: Asks for Oct. 5 Extension for Ch. 11 Plan
-------------------------------------------------------------
Aventine Renewable Energy Holdings, Inc., et al., ask the U.S.
Bankruptcy Court for the District of Delaware to extend their
exclusive period to file a plan until October 5, 2009, and the
period to solicit acceptances thereof until December 3, 2009.

The Debtors tell the Court the cases are less than four months
old, and that they have not yet finalized their precise strategy
for exiting Chapter 11.

Pekin, Illinois-based Aventine Renewable Energy Holdings, Inc.
(Pink Sheets: AVRN) -- http://www.aventinerei.com/-- is a
producer and marketer of ethanol to many leading energy companies
in the United States.  In addition to ethanol, Aventine also
produces distillers grains, corn gluten meal, corn gluten feed,
corn germ and brewers' yeast.

Morgan Stanley Capital Partners IV bought Aventine in May 2003
from Williams Cos.  Aventine had a public offering in May 2006.
The Morgan Stanley group retained 28% of the stock at year's end.

The Company and its affiliates filed for Chapter 11 on April 7,
2009 (Bankr. D. Del. Lead Case No. 09-11214).  Joel A. Waite,
Esq., and Ryan M. Bartley, Esq., at Young, Conaway, Stargatt &
Taylor, serves as bankruptcy counsel to the Debtors..  Davis Polk
& Wardwell is special tax counsel and Houlihan, Lokey, Howard &
Zukin, Inc., is the financial advisor.  Garden City Group, Inc.,
has been engaged as claims agent.  Donald J. Detweiler, Esq., at
Greenberg Traurig, LLP, serves as counsel to the official
committee of unsecured creditors.  When it filed for protection
from its creditors, Aventine Renewable listed between $100 million
and $500 million each in assets and debts.


AYERS CAPITOL PROPERTIES: Voluntary Chapter 11 Case Summary
-----------------------------------------------------------
Debtor: Ayers Capitol Properties, LLC
        6320 Windpatterns Trail
        Fairfax Station, VA 22039

Bankruptcy Case No.: 09-00689

Chapter 11 Petition Date: August 10, 2009

Court: United States Bankruptcy Court
       United States Bankruptcy Court for the District of Columbia
       (Washington, D.C.)

Debtor's Counsel: Bruce E. Gardner, Esq.
                  The Gardner Law Firm PC
                  1101 Pennsylvania Avenue NW, Suite 600
                  Washington, DC 20004
                  Tel: (202) 271-0552
                  Fax: (301) 249-6234
                  Email: beegard@gmail.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

The Debtor did not file a list of its 20 largest unsecured
creditors when it filed its petition.

The petition was signed by Charles Jenkins, member of the Company.


BALL CORP: Fitch Assigns 'BB' Rating on $325 Mil. Senior Notes
--------------------------------------------------------------
Fitch Ratings has assigned a 'BB' rating to Ball Corp.'s
$325 million senior unsecured notes due 2016 and $325 million
senior unsecured notes due 2019.  The net proceeds from the
offering will be used to fund the previously announced acquisition
of three beverage-can manufacturing plants and one beverage-can-
end manufacturing plant from Metal Container Corporation, an
indirect wholly owned subsidiary of Anheuser-Busch InBev for
$577 million.  The Outlook is Stable.

In addition, Fitch Ratings has affirmed Ball's Issuer Default
Rating at 'BB', as well as these ratings for the company:

  -- Senior secured revolving credit facility at 'BB+';
  -- Senior secured term bank debt at 'BB+';
  -- Senior unsecured notes at 'BB'.

Fitch believes Ball has the flexibility within its ratings for
this debt-funded acquisition.  Fitch expects the company to
quickly deleverage its balance sheet over the next several
quarters.  Ball will use its free cash flow, which management
estimates at $375 million for 2009, to reduce debt.  Leverage at
the end of the second quarter of 2009 (2Q'09) was 2.6 times.
Consequently, Fitch expects pro forma credit metrics by end of
2009 should be comparable to 2008.  The ratings affirmation
incorporates the company's solid cash flow generation, stable
credit metrics, leading market positions in its product categories
and current expectations in the packaging end-markets.

Ball does not have any significant refinancing requirements until
the $750 million of secured credit facilities and approximately
$1.1 billion of term loans all mature in October 2011.  Liquidity
as of 2Q'09 was approximately $608 million, comprising $60 million
in cash and $548 million of revolver availability.

The terms and conditions of the debt issuance are similar to the
senior notes due 2018.  Fitch does not believe the differences in
some of the baskets associated with the covenants in this debt
issuance are material to the ratings.  Additionally, the terms and
conditions in the unsecured notes due 2012 are considered the most
restrictive in Ball's capital structure.


BANKERS STORE: Says Board and Former Auditor Disagreed on Equity
----------------------------------------------------------------
Thomas C. Cook, President and Chief Executive Officer of The
Bankers Store, Inc., relates that on March 23, 2009, Marmann &
Associates in Sheffield, Alabama -- the independent accountant who
was engaged as the principal accountant to audit the financial
statements of Banker's Store -- notified the Company of its intent
to step down as auditor.

None of the reports prepared by Marmann & Associates on the
Company's financial statements for either of the past two years or
subsequent interim period contained an adverse opinion or
disclaimer of opinion, or was qualified or modified as to
uncertainty.

Mr. Cook says the decision to change accountants was not
recommended or approved by the board of directors or the audit
committee thereof.

In regards to the financial statements reviewed for the Forms 10-Q
for the periods ended August 31, 2008 and November 30, 2008,
Mr. Cook says there was a disagreement between the board of
directors and the former auditor regarding the equity section of
the balance sheet.  The equity section of the balance sheet
indicates that 15,754,781 common shares were issued and
outstanding.  However, the shares governing the Chesscom
acquisition were issued pursuant to the agreement and were not
included in the common shares issued and outstanding at August 31,
2008.  Presumably, the total common shares issued and outstanding
as of August 31, 2008, should have been 27,754,781.

                     As of May 31, 2008        14,954,781
                     Chesscom acquisition      12,000,000
                     Issued to Paul Clark         800,000
                                              -----------
                          Calculated total     27,754,781

With regard to the discrepancy, there was no attempt to reconcile
the amounts of shares outstanding with the Company's transfer
agent.

"Had such an attempt been made it would have been necessary to
adjust the number of common shares issued and outstanding or to
have noted any discrepancy in the notes to the financial
statements.  Compliance with generally accepted accounting
principles seems to indicate that the common shares would have
been adjusted to agree with those record maintained by the
Company's transfer agent.  Should any further explanation or
discussion of common shares or any other equity account be
required or desired, management could have elected to make such
disclosure in a footnote," Mr. Cook says.

Although the Board of Directors demanded that the then-President
of Banker's Store, Cynthia Hayden, discuss this situation with the
former auditor, there was no apparent attempt by Ms. Hayden to do
so.

Banker's Store has authorized the former accountant to respond
fully to the inquiries of the successor accountant concerning the
subject matter of this disagreement.

Apart from the disagreement, during the Company's two most recent
fiscal years and the subsequent interim periods thereto, there
were no disagreements with Marmann and Associates, whether or not
resolved, on any matter of accounting principles or practices,
financial statement disclosure, or auditing scope or procedure,
which, if not resolved to Marmann and Associates' satisfaction,
would have caused it to make reference to the subject matter of
the disagreement in connection with its report on the Company's
financial statements.

                       Going Concern Doubt

The Company incurred net loss, negative cash flows from operations
of $721,279, exclusive of the effects of the acquisition of
Chesscom Consultant's Inc. of $437,811, for the nine month period
ended February 28, 2009, and an accumulated deficit of $1,153,135
as of February 28, 2009.  The Company related that these factors
may indicate that the Company may be unable to continue as a going
concern.  The Company's continued existence is dependent upon
management's ability to develop profitable operations and resolve
its liquidity problems.

                       About Banker's Store

The Banker's Store, Inc., was established in 1968.  It remained
dormant for many years until it completed the acquisition of B.G.
Banking Equipment, Inc., and Financial Building Equipment
Exchange, Inc.  These acquisitions introduced the company to the
business of buying, selling, refurbishing and trading new and
refurbished financial equipment for banks and other financial
institutions.  Pursuant to the June 2008 Board of Directors
resolution the company expanded its Corporate Information
Statement to pursue other lines of business including security,
ecommerce, power, energy and transportation.

At February 28, 2009, the Company's balance sheet showed total
assets of $2,273,311, total liabilities of $2,196,847 and
stockholders' equity of $76,464.


BARRATT AMERICAN: Case Converted to Chapter 7 Liquidation
---------------------------------------------------------
The Union-Tribune reports that Barratt American Incorporated
agreed to switch its Chapter 11 reorganization to Chapter 7
liquidation last week after its creditors complained that
reorganization would be "futile".

Union-Tribune quoted Barratt American President Michael D.
Pattinson as saying, "Here's the mistake we builders made -- we
went on building when we should have put our tools down and
stopped work and said these land prices are ridiculous, the time
to get entitlements is stupid and $100,000 per house in fees is
unconscionable."  According to Union-Tribune, Mr. Pattinson said
that he will begin a new company in 2010.

Barratt American's remaining projects are two single-family homes
under construction, one in La Jolla and the other near Lake
Hodges, Union-Tribune relates, citing Richard M. Kipperman, the
court-appointed trustee for Barratt American.  "We're not quite
sure of all the liabilities," the report quoted the trustee as
saying.

According to Union-Tribune, Bankruptcy Judge Louise DeCarl Adler
gave Mr. Kipperman 15 days to file a schedule of debts and 30 days
to file a final report and account with the U.S. trustee, Tiffany
L. Carroll.

According to Union-Tribune, home owners are current on payments to
Barratt American and will have other contractors complete them.

Carlsbad, California-based Barratt American Incorporated --
http://www.barrattamerican.com/-- and its affiliates is a
privately-owned home builder in Southern California.  The
Companies filed for Chapter 11 protection on December 24, 2008
(Bankr. S. D. Calif. Case No. 08-13249).  Marc J. Winthrop, Esq.,
at Winthrop Couchot Professional Corp. represented the companies
in their restructuring efforts.  The companies listed assets of
$10 million to $50 million and debts of $100 million to
$500 million.


BERNARD MADOFF: $3.43BB in Claims Allowed; 9.5% Covered by SIPC
---------------------------------------------------------------
Irving H. Picard, the trustee for the liquidation of the Bernard
L. Madoff Investment Securities LLC, says that as of August 11
2009, a total of 872 claims aggregating $3,429,702,933 have been
allowed.

The Securities Investor Protection Corporation has covered
$326,163,881 of the total allowed claims, with a maximum payout of
$500,000 per claimant, as provided by the Securities Investor
Protection Act.

The amount of allowed claims that exceed the statutory limits of
SIPC total $3,103,539,051.  The extent of recovery by customers
beyond the amounts advanced by SIPC will depend upon the amount of
customer property that the trustee is able to recover.

The Trustee is in the process of marshalling BLMIS's assets, and
the liquidation of BLMIS' assets is well underway.  As of July 17,
Mr. Picard said he has recovered more than $1 billion in assets.
Mr. Picard has also commenced a number of lawsuits against former
investors to avoid and recover transfers made by Madoff to
investors during the past six years.

The November 30, 2008 statements issued by BLMIS showed that the
"value" of all customer accounts was $64.8 billion.  According to
Mr. Picard, the statements were erroneous, and, in reality, BLMIS
had assets on hand worth a small fraction of that amount."   The
total amount of funds deposited but not withdrawn from BLMIS was
less than $20 billion, Mr. Picard said in a July 17 court filing.

Because those customer statements issued by BLMIS were based on
fictitious profits, the Trustee has disregarded them for purposes
of this determination of the amount of allowed claims.  Instead,
the Trustee is allowing claims in the amounts that a customer
actually deposited with BLMIS, less the amounts that the customer
withdrew from the account, referred to as the "cash in/cash out"
approach.

                      About Bernard L. Madoff

Bernard L. Madoff Investment Securities LLC was a market maker in
U.S. stocks, including all of the S&P 500 and more than 350 Nasdaq
stocks.  The firm moved large blocks of stock for institutional
clients by splitting up orders or arranging off-exchange
transactions between parties.  It also performed clearing and
settlement services.  Clients included brokerages, banks, and
other financial institutions.  In addition, Madoff Securities
managed assets for high-net-worth individuals, hedge funds, and
other institutional investors.

The firm is being liquidated in the aftermath of a fraud scandal
involving founder Bernard L. Madoff.

As reported by the Troubled Company Reporter on December 15, 2008,
the Securities and Exchange Commission charged Mr. Madoff and his
investment firm with securities fraud for a multi-billion dollar
Ponzi scheme that he perpetrated on advisory clients of his firm.
The estimated losses from Mr. Madoff's fraud were allegedly at
least US$50 billion.

Also on December 15, 2008, the Honorable Louis A. Stanton of the
U.S. District Court for the Southern District of New York granted
the application of the Securities Investor Protection Corporation
for a decree adjudicating that the customers of BLMIS are in need
of the protection afforded by the Securities Investor Protection
Act of 1970.  Irving H. Picard, Esq., was appointed as trustee for
the liquidation of BLMIS, and Baker & Hostetler LLP was appointed
as counsel.

Judge Denny Chin of the U.S. District Court for the Southern
District of New York on June 29, 2009, sentenced Mr. Madoff to 150
years of life imprisonment for defrauding investors.


BERNARD MADOFF: DiPascali Charged by SEC for Securities Fraud
-------------------------------------------------------------
The Securities and Exchange Commission on August 11 charged
Bernard L. Madoff's chief financial officer, Frank DiPascali, with
securities fraud for overseeing the mechanics of Mr. Madoff's
entirely fictitious investment strategy and creating millions of
phony documents and trading records to conceal the fraud from
regulators and investors.

According to the SEC's complaint, filed in U.S. District Court for
the Southern District of New York, Mr. DiPascali helped generate
bogus annual returns of 10 to 17 percent by fabricating backdated
and fictitious trades that never occurred.  The SEC further
alleges that DiPascali helped Madoff cover up the fraud by
preparing fake trade blotters, stock records, customer
confirmations, Depository Trust Corporation (DTC) reports and
other phantom books and records to substantiate the non-existent
trading.

"DiPascali and Madoff ran an extraordinary and massive
counterfeiting operation that concealed their fraud from investors
and regulators alike," said Robert Khuzami, Director of the SEC's
Division of Enforcement.

Without admitting or denying the allegations of the SEC's
complaint, Mr. DiPascali has consented to a proposed partial
judgment, which if entered by the court would impose a permanent
injunction against Mr. DiPascali and leave the issues of
disgorgement and a financial penalty to be decided at a later
time.

The SEC alleges that Mr. DiPascali, who resides in Bridgewater,
N.J., sustained Madoff's unprecedented fraud from at least the
1980s until the scheme's collapse, causing billions of dollars in
investor losses.  A specific computer was used to simulate phantom
trading in advisory accounts, and to generate phony books and
records reflecting that trading.  This fake set of books and
records was kept separate and distinct from the books and records
for the market-making and proprietary trading operation at Bernard
L. Madoff Investment Securities LLC (BMIS).  When investors sent
in funds to BMIS for investment, the funds were deposited or wired
into a bank account at JPMorgan Chase that was not in any way
reflected on the books and records (including the ledger) of the
BMIS broker-dealer operation.

The SEC's complaint alleges that great effort was made to hide the
fact that there were several thousand advisory accounts at BMIS,
which would have required SEC registration.  Mr. DiPascali helped
Madoff devise a shifting subset of 10 to 25 accounts - known as
the "special" accounts - which they deceptively presented as the
universe of BMIS advisory accounts.  Mr. DiPascali and others
prepared fake books and records to provide regulators with
information about only these special accounts in order to conceal
the true size of the advisory business.

According to the SEC's complaint, Mr. DiPascali joined BMIS as a
research clerk at age 19 after dropping out of college.
Eventually, Madoff put DiPascali in charge of the bulk of day-to-
day operations on the now-infamous 17th floor of BMIS. As Madoff
consistently communicated his fear of detection to DiPascali, a
significant portion of DiPascali's time and effort was dedicated
to anticipating and preparing for regulatory inquiries -
particularly SEC examinations in 2004 and 2005 and an SEC
investigation in 2006.

The SEC's complaint alleges that Mr. DiPascali helped carry out
Madoff's fictitious "split-strike conversion" strategy that BMIS
claimed to be pursuing on behalf of its clients.  Mr. DiPascali
helped Madoff structure and record non-existent trades that were
reflected on millions of pages of customer confirmations and
account statements distributed each year. None of the trades
purportedly executed as part of this strategy ever occurred. In
fact, the strategy was nothing more than fictitious trading by
hindsight, supported by documents created after the fact based on
actual historical data.

According to the SEC's complaint, Mr. DiPascali helped Mr. Madoff
cover his tracks in numerous nefarious ways.  For instance, when
Mr. Madoff grew concerned that showing positive returns every
month would be suspicious, he occasionally instructed Mr.
DiPascali to enter phony trades designed to lose money in order to
make their investment strategy and returns more credible.  In
order to avoid scrutiny by sophisticated financial institutions,
they made a practice of closing down accounts of investors who
worked at such institutions.  Messrs. Madoff and DiPascali even
went so far as to develop a phantom computer trading platform that
would appear to reflect real trading.  In the event of a surprise
visit from outsiders requesting to observe real-time trading
activity, one BMIS employee was to enter trades on a computer
screen and another employee was to go into an office nearby and
play the role of a counterparty trader in Europe.

The SEC further alleges that Mr. DiPascali misappropriated
investor funds for personal gain, setting up an account at BMIS
for himself in 2002 that he named after his fishing yacht, Dorothy
Jo.  Mr. DiPascali withdrew more than $5 million from the account
between 2002 and 2008 to fund personal expenses, including the
purchase of a new boat.  Mr. DiPascali's withdrawals were funded
directly from money deposited by investors with BMIS.  Investor
money being used to fund the overall operations of BMIS also
contributed to the more than $2 million in salary and bonus that
Mr. DiPascali received each year.

The charges against Mr. DiPascali mark the fifth enforcement
action taken by the SEC related to the Madoff fraud.  Previously,
the Commission charged Madoff and BMIS, their auditors, certain
solicitors, and certain feeder funds.

The Commission's complaint specifically alleges that DiPascali
violated Section 17(a) of the Securities Act; violated, and aided
and abetted violations of, Section 10(b) of the Exchange Act and
Rule 10b-5 thereunder; and aided and abetted violations of
Sections 204, 206(1) and 206(2) of the Advisers Act and Rule 204-2
thereunder and Sections 15(c) and 17(a) of the Exchange Act and
Rules 10b-3 and 17a-3 thereunder. Among other things, the SEC's
complaint seeks financial penalties and a court order requiring
DiPascali to disgorge his ill-gotten gains.

The Commission acknowledges the assistance of the U.S. Attorney's
Office for the Southern District of New York and the Federal
Bureau of Investigation. The Commission's investigation is
continuing.

                      About Bernard L. Madoff

Bernard L. Madoff Investment Securities LLC was a market maker in
U.S. stocks, including all of the S&P 500 and more than 350 Nasdaq
stocks.  The firm moved large blocks of stock for institutional
clients by splitting up orders or arranging off-exchange
transactions between parties.  It also performed clearing and
settlement services.  Clients included brokerages, banks, and
other financial institutions.  In addition, Madoff Securities
managed assets for high-net-worth individuals, hedge funds, and
other institutional investors.

The firm is being liquidated in the aftermath of a fraud scandal
involving founder Bernard L. Madoff.

As reported by the Troubled Company Reporter on December 15, 2008,
the Securities and Exchange Commission charged Mr. Madoff and his
investment firm with securities fraud for a multi-billion dollar
Ponzi scheme that he perpetrated on advisory clients of his firm.
The estimated losses from Mr. Madoff's fraud were allegedly at
least US$50 billion.

Also on December 15, 2008, the Honorable Louis A. Stanton of the
U.S. District Court for the Southern District of New York granted
the application of the Securities Investor Protection Corporation
for a decree adjudicating that the customers of BLMIS are in need
of the protection afforded by the Securities Investor Protection
Act of 1970.  Irving H. Picard, Esq., was appointed as trustee for
the liquidation of BLMIS, and Baker & Hostetler LLP was appointed
as counsel.

Judge Denny Chin of the U.S. District Court for the Southern
District of New York on June 29, 2009, sentenced Mr. Madoff to 150
years of life imprisonment for defrauding investors.


BERNARD MADOFF: Frank DiPascali Pleads Guilty to Fraud
------------------------------------------------------
Chad Bray and Tom Lauricella at The Wall Street Journal report
that Frank DiPascali Jr. has pled guilty to fraud at a hearing in
federal court in lower Manhattan in New York.

Having plead guilty to 10 criminal charges, Mr. DiPascali was
immediately sent to jail, The Journal relates.

Mr. DiPascali, a key lieutenant to investor Mr. Madoff for more
than 30 years, was expected to plead guilty to fraud charges on
Tuesday.  Mr. DiPascali is a potential point man in the
investigation of the Madoff fraud.  He said that he led stock-
options trading and was the point man for investment-advisory
clients who were told he executed their trades.  Citing sources,
The Journal said that prosecutors are interested in information
Mr. DiPascali can provide about the Madoff operation -- who knew
about the fraud and where the money went.  According to The
Journal, the sources said that the government sent Mr. DiPascali a
subpoena for records.  People familiar with the matter said that
Mr. DiPascali supervised a group of half a dozen other employees
involved in taking and keeping track of client orders, The Journal
states.

The U.S. Securities and Exchange Commission also filed a civil
complaint against Mr. DiPascali on Tuesday, offering the most
vivid description yet of:

     -- the inner workings of the fraud;

     -- the extent Mr. Madoff, Mr. DiPascali, and others allegedly
        went to avoid detection;

     -- how the fraud ultimately collapsed; and

     -- how Messrs. DiPascali and Madoff, with others, contrived
        to convince regulators, investors, and visitors to their
        office that trading was happening, when it wasn't.

According to court documents, Mr. DiPascali said that he believed
he worked for a prestigious, successful Wall Street firm with Mr.
Madoff as his mentor, until he came to learn in the late 1980s or
early 1990s that no trading was occurring in the investment-
advisory client accounts.  The Journal relates that Mr. DiPascali
admitted to lying to clients and creating fake client documents to
reflect the "specific rate of return" that Mr. Madoff directed the
client receive.  The Journal states that Mr. DiPascail also
admitted lying under oath to the SEC in 2006 at Mr. Madoff's
direction.

Citing people familiar with the matter, The Journal relates that
Mr. DiPascali is cooperating with prosecutors from the U.S.
attorney's office in Manhattan.  According to the report, the
sources said that Mr. DiPascali may be able to lend support to
document-based evidence that suggests that some of Mr. Madoff's
highest-profile investors knew about a fraud.  Prosecutors said in
court documents that the scheme included unnamed "co-conspirators"
besides Mr. Madoff.

The SEC claimed in court documents that Mr. DiPascali, along with
Mr. Madoff, had considerable help from others at the Madoff firm
for producing everything from fake client statements to computer
programming.  Citing The SEC, The Journal states that:

     -- fake records from the Depository Trust Corp. -- which acts
        as the central depository for securities in the U.S. Mr.
        DiPascali -- were produced;

     -- others spent substantial time and effort ensuring that
        reports mimicked the layout, print font and paper-type of
        actual DTC reports;

     -- Mr. DiPascali and others created and used a "random number
        generator program" to give trading orders the appearance
        of happening at variable intervals and in different
        increments;

     -- Mr. Madoff ordered that old stationery and letterhead be
        maintained in case he had to fabricate records going back
        in time;

     -- the executives prepared for the possibility that an
        investor or other outsider might ask to observe actual
        trading.  On Mr. Madoff's instructions, Mr. DiPascali and
        others tested a system where one employee would enter
        trades in front of a visitor and another would go into an
        office nearby and pretend to be a trader in Europe
        responding to the orders; and

     -- by the final days of the fraud, when a few hundred million
        dollars was left for redemptions, Messrs. DiPascali and
        Madoff discussed using that money to cash out family,
        friends and employees.  Mr. DiPascali had checks totalling
        more than $150 million prepared, but Mr. Madoff was
        arrested before they were distributed.

According to The Journal, Mr. DiPascali's lawyer said that his
client expects to give up his ill-gotten assets, and that the
government has already confiscated some property and is monitoring
his expenditures.

The SEC, The Journal relates, said that Mr. DiPascali has agreed
to a proposed partial judgment that would prevent him from
committing further violations of securities laws, and a financial
penalty will be decided at a later date.

The Journal reports that prosecutors were willing to agree that
Mr. DiPascali could remain out of jail on $2.5 million in bail
pending sentencing, but the U.S. District Court Judge Richard
Sullivan denied the agreement on Tuesday, and instead sent him to
prison in Manhattan.

The Journal relates that sentencing for Mr. DiPascali is on hold,
pending the outcome of his cooperation.  Mr. DiPascali faces a
maximum of 125 years, but he will likely receive less based in
part on his level of cooperation, The Journal states.  According
to the report, lawyers and prosecutors expected to update the
court on Mr. DiPascali's status in May 2010.

Bernard L. Madoff Investment Securities LLC was a market maker in
U.S. stocks, including all of the S&P 500 and more than 350 Nasdaq
stocks.  The firm moved large blocks of stock for institutional
clients by splitting up orders or arranging off-exchange
transactions between parties.  It also performed clearing and
settlement services.  Clients included brokerages, banks, and
other financial institutions.  In addition, Madoff Securities
managed assets for high-net-worth individuals, hedge funds, and
other institutional investors.

The firm is being liquidated in the aftermath of a fraud scandal
involving founder Bernard L. Madoff.

As reported by the Troubled Company Reporter on December 15, 2008,
the Securities and Exchange Commission charged Mr. Madoff and his
investment firm with securities fraud for a multi-billion dollar
Ponzi scheme that he perpetrated on advisory clients of his firm.
The estimated losses from Mr. Madoff's fraud were allegedly at
least US$50 billion.

Also on December 15, 2008, the Honorable Louis A. Stanton of the
U.S. District Court for the Southern District of New York granted
the application of the Securities Investor Protection Corporation
for a decree adjudicating that the customers of BLMIS are in need
of the protection afforded by the Securities Investor Protection
Act of 1970.  Irving H. Picard, Esq., was appointed as trustee for
the liquidation of BLMIS, and Baker & Hostetler LLP was appointed
as counsel.

Judge Denny Chin of the U.S. District Court for the Southern
District of New York on June 29, 2009, sentenced Mr. Madoff to 150
years of life imprisonment for defrauding investors.

                      About Bernard L. Madoff

Bernard L. Madoff Investment Securities LLC was a market maker in
U.S. stocks, including all of the S&P 500 and more than 350 Nasdaq
stocks.  The firm moved large blocks of stock for institutional
clients by splitting up orders or arranging off-exchange
transactions between parties.  It also performed clearing and
settlement services.  Clients included brokerages, banks, and
other financial institutions.  In addition, Madoff Securities
managed assets for high-net-worth individuals, hedge funds, and
other institutional investors.

The firm is being liquidated in the aftermath of a fraud scandal
involving founder Bernard L. Madoff.

As reported by the Troubled Company Reporter on December 15, 2008,
the Securities and Exchange Commission charged Mr. Madoff and his
investment firm with securities fraud for a multi-billion dollar
Ponzi scheme that he perpetrated on advisory clients of his firm.
The estimated losses from Mr. Madoff's fraud were allegedly at
least US$50 billion.

Also on December 15, 2008, the Honorable Louis A. Stanton of the
U.S. District Court for the Southern District of New York granted
the application of the Securities Investor Protection Corporation
for a decree adjudicating that the customers of BLMIS are in need
of the protection afforded by the Securities Investor Protection
Act of 1970.  Irving H. Picard, Esq., was appointed as trustee for
the liquidation of BLMIS, and Baker & Hostetler LLP was appointed
as counsel.

Judge Denny Chin of the U.S. District Court for the Southern
District of New York on June 29, 2009, sentenced Mr. Madoff to 150
years of life imprisonment for defrauding investors.


BERRY PETROLEUM: S&P Affirms 'B' Rating on Planned Note Upsizing
----------------------------------------------------------------
Standard & Poor' Ratings Services affirmed its 'B' issue-level
rating (two notches lower than the corporate credit rating on the
company) and '6' recovery rating on Berry Petroleum Co.'s (BB-
/Stable/--) senior unsecured notes.

The affirmation follows the exploration and production company's
announcement that it plans to increase the size of the 10.25%
senior note issue due 2014 to $400 million, from $325 million,
through a $75 million add-on.  The recovery rating indicates that
lenders can expect negligible (0% to 10%) recovery in the event of
default.

Berry had issued $325 million of notes in May 2009.  The company
will use proceeds to pay down borrowings under its revolving
credit facility, which had about $566 outstanding as of August 4,
2009.

                           Ratings List

                       Berry Petroleum Co.

         Corporate Credit Rating            BB-/Stable/--

                         Ratings Affirmed

                        Berry Petroleum Co.

              $400 Mil. Sr Unsec Notes Due 2014  B
                  Recovery Rating                6


BH S&B: Court Adjourns Ableco Conversion Motion to September 15
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
has adjourned until September 15, the hearing on the motion of
Ableco Finance LLC for an order converting BH S&B Holdings LLC, et
al.'s Chapter 11 cases to cases under chapter 7 of the Bankruptcy
Code.

BH S&B has objected to Ableco's proposal, saying it is well on its
way to reconciling its outstanding claims and that a Chapter 11
plan is still a possibility.

Ableco Finance is insisting that the cases should be converted on
these grounds:

  -- The Debtors have ceased operations and finished liquidating
     their assets back in January and therefore have no ability
     to rehabilitate.  During the past four months the Debtors
     have not generated any operating revenues, and the estates
     continue to incur administrative expenses well in excess of
     any collections.

  -- There are no unusual circumstances present such that
     conversion would not be in the best interests of creditors
     and these estates.  Other than prosecuting claim objections
     and estate causes of action and taking steps to ensure that
     any remaining rights of the estates to cash and other assets
     are recovered, there is nothing else to do.  To the extent
     there are any distributions to be made to creditors, they
     can be made more economically in Chapter 7.

  -- The Debtors have had more than three months to analyze
     administrative claims to determine whether a Chapter 11 plan
     is even feasible in these cases, but have failed to get that
     done.

  -- The Debtors' extended stay in Chapter 11 benefits only the
     6 professional firms employed at the expense of the Debtors'
     estates, including 3 professional firms retained by the
     Creditors Committee.  A Chapter 7 trustee, with 1 or 2
     professionals can perform the remaining tasks required to
     bring these cases to an expeditious close and do so in a
     manner compatible with the best interests of all parties
     involved.

                           About BH S&B

BH S&B Holdings LLC filed for bankruptcy protection together with
seven other affiliates on November 19, 2008 (Bankr. S.D.N.Y. Lead
Case No. 08-14604).  The seven debtor-affiliates are BH S&B
Distribution LLC, BH S&B Lico LLC, BH S&B Retail LLC, BHY S&B
Intermediate Holdco LLC, Cubicle Licensing LLC, Fashion Plate
Licensing LLC, and Heritage Licensing LLC.

BH S&B was formed by investment firms Bay Harbour Management and
York Capital Management in August 2008 to acquire the business
operations and assets of bankrupt retailer Steve & Barry's for
$163 million in August 2008.  Steve & Barry's had 240 locations
when it was bought and the new owners had planned to cut that down
to 173 stores.  Due to disappointing sales, Steve & Barry's
returned to bankruptcy in November 2008.

BH S&B and its affiliates' Chapter 11 cases are presided over by
the Honorable Martin Glenn.  Joel H. Levitin, Esq., and Richard A.
Stieglitz, Jr., Esq., at Cahill Gordon & Reindel LLP, in New York,
serve as bankruptcy counsel to BH S&B and its affiliates.  RAS
Management Advisors LLC acts as restructuring advisors, and
Kurtzman Carson Consultants LLC as claims and notice agent.


BRANDYWINE REALTY: Fitch Affirms Issuer Default Rating at 'BB+'
---------------------------------------------------------------
Based on the steps taken over the last three months to improve its
liquidity position and reduce leverage, Fitch Ratings has affirmed
the credit ratings of Brandywine Realty Trust and Brandywine
Operating Partnership, L.P., and revised the Outlook to Stable
from Negative.

Fitch has affirmed these ratings:

Brandywine Realty Trust

  -- Issuer Default Rating at 'BB+';
  -- Preferred stock rating at 'BB-'.

Brandywine Operating Partnership, L.P.

  -- IDR at 'BB+';
  -- Unsecured revolving credit facility at 'BB+';
  -- Senior unsecured notes at 'BB+.'

The Rating Outlook is Stable.

Through the combination of a secondary equity offering, additional
tender offers for near-term bonds and asset sales, Brandywine has
a liquidity surplus of $200 million for the next two years.

On June 2, 2009, Brandywine completed a common share offering of
40.2 million shares at a public offering price of $6.30 per share.
The net proceeds of approximately $242.5 million were used to
repay a portion of the amount outstanding under Brandywine's
unsecured revolving line of credit and meaningfully improve
liquidity.

Fitch calculates that Brandywine's sources of liquidity (cash,
availability under its unsecured revolving credit facility,
expected retained cash flows from operating activities) exceed
uses of liquidity (debt maturities and expected capital
expenditures) by over $200 million from June 30, 2009, through
June 30, 2011.  The forward financing commitment of $256.1 million
received on May 11, 2009, eliminates the funding risk for
Brandywine's 30th Street Post Office and Cira South Garage
construction project set to be completed in the third quarter of
2010.  Considering all other development activity, Brandywine's
sources of liquidity after development are $157 million.

The second quarter illustrated declining fundamentals for
Brandywine's portfolio, with same store GAAP Net Operating Income
declining 4% (cash NOI declined 1%) as compared to the same three
month period in 2008.  Additionally, core-portfolio occupancy
dropped to 88.8% from 90.2% on December 31, 2008.

While fundamentals are expected to deteriorate further in 2009,
the company's credit metrics are solid for the 'BB+' rating
category.  On June 30, 2009, the company's debt to recurring
operating EBITDA was 7.5 times (x) as compared to 8.1x on
December 31, 2008.  Additionally, Brandywine's fixed charge
coverage (defined as recurring EBITDA less capital expenditures
and straight-line rent adjustments, divided by interest expense,
capitalized interest, and preferred stock dividends) remained at
1.7x for the 12 months ended June 30, 2009, as compared to the
year ended December 31, 2008.

Finally, while Brandywine did raise funds through encumbering an
additional asset, Fitch estimates the company's book value of
unencumbered real estate operating assets to unsecured debt ratio
improved to 1.8x on June 30, 2009 from 1.7x on Dec. 31, 2008.
Additionally, Brandywine is sufficiently capitalized at a 'BB'
rating with a risk adjusted capital ratio of 1.0x on June 30,
2009, improved from 0.9x on Dec. 31, 2008.

Assuming a 5% decline in Brandywine's rental revenues (on a GAAP
basis) in 2009 and again in 2010, debt to recurring operating
EBITDA would remain below 9.0x, consistent with the 'BB+' rating
category.  Further considering reduced interest expense due to the
unsecured bonds repaying in the next two years, Brandywine's fixed
charge coverage would remain in a range of 1.7x to 1.8x range and
Brandywine's risk adjusted capital ratio will remain sufficient
for the rating category around 1.0x at a 'BB' stress.

The 5% rental revenue decline is based on the cumulative 2009-2013
market rent decline projected by Property and Portfolio Research
(PPR) in Brandywine's regional markets.  A cumulative 4.9% decline
is calculated using PPR expectations for cumulative rent declines
and weighting them by Brandywine's exposure to each market.
Brandywine's leases expiring from 2009-2011 are about $0.75 below
the average market rents, indicating that below-market leases will
be expiring over the next two years.

The one-notch differential between Brandywine's IDR and its
preferred stock rating is consistent with Fitch's criteria for
corporate entities with an IDR of 'BBB+'.  Based on Fitch's
criteria report, Brandywine's preferred stock is 75% equity-like
and 25% debt-like, since it is perpetual and has no covenants but
has a cumulative deferral option.

These factors may have a positive impact on Brandywine's ratings:

  -- Maintaining a healthy liquidity surplus;

  -- Maintaining recurring EBITDA/fixed charges above 1.8x (for
     the six months ended June 30, 2009, recurring EBITDA divided
     by total fixed charges was 1.9x);

  -- Demonstrated access to the unsecured debt markets;

  -- Total debt to recurring operating EBITDA declines to a range
     below 7.0x.

Going forward, these factors may have a negative impact on
Brandywine's ratings:

  -- If recurring EBITDA divided by total fixed charges were to
     decrease below 1.4x;

  -- If secured debt-to-total gross assets were to increase above
     30% (as of June 30, 2009 Fitch estimated secured debt to
     total gross assets was 21%);

  -- If the gross book value of unencumbered operating real estate
     assets to unsecured debt falls below 1.5x;

  -- If Total Debt to recurring operating EBITDA increases above
     9.0x.

Brandywine is an office REIT (with some industrial properties)
that actively participates in acquiring, developing, redeveloping,
leasing and managing properties, primarily in select markets in
the mid-Atlantic region and California.  As of June 30, 2009,
Brandywine had $4.7 billion in total book assets.  Its stabilized
portfolio consisted of 210 office properties, 22 industrial
facilities, and three mixed-use projects.  The portfolio
represents approximately 23.4 million net rentable square feet.
The company also holds two properties under development and seven
properties under redevelopment containing an aggregate of
2.3 million net rentable square feet.


BRENT LEE GINTHER: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Brent Lee Ginther
           dba Ginther Construction, L.L.C
           dba Ginther Farms, L.L.C.
        108 F. Avenue
        Menlo, KS 67753

Bankruptcy Case No.: 09-41347

Chapter 11 Petition Date: August 11, 2009

Court: United States Bankruptcy Court
       District of Kansas (Topeka)

Judge: Janice Miller

Debtor's Counsel: Tom R. Barnes II, Esq.
                  2887 SW MacVicar Ave
                  Topeka, KS 66611
                  Tel: (785) 267-3410
                  Email: tom@stumbolaw.com

Total Assets: $1,266,322

Total Debts: $1,536,699

A full-text copy of Mr. Ginther's petition, including a list of
his 20 largest unsecured creditors, is available for free at:

            http://bankrupt.com/misc/ksb09-41347.pdf

The petition was signed by Mr. Ginther.


BROADSTRIPE LLC: Plan Filing Deadline Moved to October 29
---------------------------------------------------------
According to Carla Main at Bloomberg, Judge Christopher Sontchi of
the U.S. Bankruptcy Court for the District of Delaware granted a
second extension, through October 29, of Broadstripe LLC's
exclusive period to propose a Chapter 11 plan.

Broadstripe already filed a reorganization plan to carry out an
agreement reached before the Chapter 11 filing with holders of the
first- and second-lien debt.  However, a lawsuit by the official
committee of unsecured creditors that seeks to invalidate the
lenders' liens remains unresolved.  Until the suit is resolved,
the Committee won't support a plan that recognizes the validity of
the lenders' claims.

Broadstripe LLC and its debtor-affiliates delivered on Jan. 15,
2009, to the Hon. Christopher S. Sontchi of the United States
Bankruptcy Court for the District of Delaware a Chapter 11 plan of
reorganization and a disclosure statement explaining the plan.
According the Debtors, plan is the result of extensive
negotiations among the Debtors and those first lien lenders and
second lien lenders holding more than two-thirds of the first lien
note claims and the second lien note claims, respectively.
Subject to the terms of the plan support agreement, these holders
of the Debtors' senior secured indebtedness have agreed to support
and vote in favor of the plan.

The Debtors' senior secured obligations under the First Lien
Credit Agreement will be exchanged for new debt and convertible
debt instruments issued by the Reorganized Debtor.  The Debtors'
junior secured obligations under the Second Lien Credit Agreement
and their remaining General Unsecured Claims against Debtors other
than Broadstripe Capital LLC will be converted to equity through
the issuance of New Members Interests in the Reorganized Debtor.

A full-text copy of the Debtors' Chapter 11 Plan of Reorganization
is available for free at http://ResearchArchives.com/t/s?3878

A full-text copy of the Debtors' Disclosure Statement is available
for free at: http://ResearchArchives.com/t/s?3879

The first lien credit facility consists of a revolving credit
facility and a term loan, which bear interest at the Base Rate
plus the applicable rate for portions and the Eurodollar rate plus
applicable rate.  As of Dec. 31, 2008, the amount outstanding
under (i) the credit facility was $10.2 million priced at LIBOR
plus 7%, and (ii) the term loan was $170.6 million -- excluding
incurred but unpaid expenses -- priced at LIBOR plus 7%.  On the
one hand,  the second lien credit facility comprised of two term
loans: term loan C and term loan D, which provide for cash
interest to be paid on the term loans in an amount equal to LIBOR,
and PIK interest accrued on the term loans for the balance.  In
March 2008, the PIK interest terms of the loans were made
consistent and now accrue at 14.5% per annum under the first
amended second lien credit facility.  As of Dec. 31, 2008, the
total aggregate amount under the loans was about $102.1 million --
excluding incurred but unpaid expenses.  The first lien credit
facility is secured by first liens on and security interest in
substantially all of the Debtors' assets while the other facility
is secured by second priority liens on and security interest in
substantially all of the Debtors' assets.

                      About Broadstripe LLC

Headquartered in Chesterfield, Missouri, Broadstripe LLC --
http://www.broadstripe.com/-- provides videos and telephone
services to consumers and business in Maryland, Michigan,
Washington and Oregon.  The Company and five of its affiliates
filed for Chapter 11 protection on January 2, 2009 (Bankr. D. Del.
Lead Case No. 09-10006).  Ashby & Geddes, and Gardere Wynne Sewell
LLP represent the Debtors in their restructuring efforts.  The
Debtors proposed FTI Consulting Inc. as their restructuring
consultant, and Epiq Bankruptcy Consultants LLC as their claims
agent.  When the Debtors filed for protection from their
creditors, they listed assets and debts between $100 million and
$500 million in their petition

The U.S. Bankruptcy Court for the District of Delaware has
approved sale procedures proposed by the Chapter 7 trustee, under
which Emaar Properties PJSC will be the lead bidder at an August
20 auction for WL Homes LLC.


BRUNSWICK CORP: S&P Cuts Issue-Level Rating to 'B-' on Upsizing
---------------------------------------------------------------
Following the upsizing of Brunswick Corp.'s proposed senior
secured bond offering due 2016 to $350 million from $250 million,
Standard & Poor's has revised its ratings on this debt.  S&P has
revised its recovery rating on the bonds to '3', indicating S&P's
expectation of meaningful (50% to 70%) recovery for debtholders in
the event of a payment default, from '2'.  S&P has also lowered
its issue-level rating on these bonds to 'B-' (at the same level
as S&P's 'B-' corporate credit rating on the company) from 'B', in
accordance with S&P's notching criteria for a '3' recovery rating.

The corporate credit rating remains at 'B-', and the rating
outlook is negative.  The 'B-' rating reflects the sharp decline
in Brunswick's profitability because of difficult recreational
marine conditions and lower prospects for a substantial industry
turnaround over the intermediate term.

                           Ratings List

                         Brunswick Corp.

         Corporate Credit Rating          B-/Negative/--

                         Revised Ratings

                         Brunswick Corp.

                                           To           From
                                           --           ----
          $350M sr secd bonds due 2016     B-           B
            Recovery Rating                3            2


CAJUN FUNDING: Moody's Withdraws 'B2' Corporate Family Rating
-------------------------------------------------------------
Moody's Investors Service withdrew all ratings of Cajun Funding
Corp., which owns Church's Chicken, after the repayment of all
rated debt upon the completion of a sale of Church's Chicken to a
private equity firm.

These ratings have been withdrawn:

Cajun Funding Corp.

* Corporate Family Rating -- B2
* Probability of Default Rating -- B2
* 2nd Lien Senior Secured Notes -- B2 (LGD3, 46%)
* Speculative Grade Liquidity Rating -- SGL-2

The last rating action occurred on October 28, 2008 when its SGL
was upgraded to SGL-2 from SGL-3.

Cajun Funding Corp., headquartered in Atlanta, Georgia, is the
special purpose financing entity for Cajun Operating Company,
Inc., the developer and operator of Church's Chicken restaurants.
Church's is a leading chicken quick-service restaurant chain
located in 31 states, 2 United States territories, and 17 foreign
countries.  With more than 1600 outlets worldwide, the company
generates over $1.2 billion annual system-wide sales globally.


CARE FOUNDATION: Can Hire Greenberg Traurig as Regulatory Counsel
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Tennessee has
granted Care Foundation of America, Inc., et al., permission to
employ Greenberg Traurig, P.A., as their Florida Health Care
Regulatory counsel, nunc pro tunc to July 15, 2009.

Greenberg Traurig has agreed to assist the Debtors with the
specialized health care regulatory process in the State of Forida
in relation to the transfer of the Debtors' six skilled nursing
homes from Health Services Management, Inc., and its wholly owned
subsidiaries, to the Debtors or their designees.

Sonya C. Penley, Esq., a shareholder at Greenberg Traurig, tells
the Court that her current hourly rate is $440.

Based in Nashville, Tennessee, Care Foundation of America, Inc.,
is a nonprofit corporation.  Care Foundation and its affiliates
each own certain real estate, improvements, and fixtures in the
Tampa Bay, Florida that each one in turn leases to Health Services
Management, Inc., and its wholly owned subsidiaries for use as a
skilled nurning facility.

The facilities are known as Ayers Health & Rehabilitation Center,
Brooksville Healthcare Center, Bear Creek Nursing Center, Heather
Hill Healthcare Center, Royal Oak Nursing Center, and as Cypress
Cove Care Center.  The Company and five affiliates filed separate
petitions for Chapter 11 relief on December 31, 2008 (Bankr. M.D.
Tenn. Lead Case No. 08-12367).

David E. Lemke, Esq., at Waller Landsden Dortch & Davis,
represents the Debtors as counsel.  When the Debtors filed for
protection from their creditors, they listed total assets of
between $50,000,000 and $100,000,000, and total debts of between
$1,000,00 and $10,000,000.


CASE NEW: Moody's Assigns 'Ba3' Rating on $1 Bil. Senior Notes
--------------------------------------------------------------
Moody's Investors Service assigned a Ba3 rating to the $1 billion
senior note offering of Case New Holland Inc., a wholly-owned
subsidiary of CNH Global N.V.  The notes will be guaranteed by CNH
and certain other direct and indirect subsidiaries.  Moody's also
assigned a Speculative Grade Liquidity rating of SGL-3 to CNH.
The rating outlook is stable.

The principal risk embodied in CNH's Ba3 rating is the severe
downturn in the global construction equipment markets.  This
downturn and the possibility of additional restructuring actions
to shrink capacity and lower fixed costs in CNH's construction
equipment operations will contribute to very weak credit metrics
for 2009.  Moody's anticipates that the ratio EBITA/interest will
approximate 1x, and that debt/EBITDA could exceed 6x -- metrics
which are weak for the Ba3 rating category.  Despite the severe
operating challenges in the construction equipment sector, CNH
benefits from an increasingly competitive position in the farm
equipment sector.  Since 2006 the company has made considerable
progress in achieving the goals it established for improving sub-
par operating efficiencies and return measures, and for
strengthening its dealer network.  Moreover, the long-term
fundamentals for the global agricultural equipment sector are
positive.  Global stocks of grains relative to usage remain low,
agricultural commodity prices are at high enough levels to support
solid farm sector profitability, and US farm cash generation is
healthy while farm debt levels remain low.  Finally, the degree of
competitive pressure within the sector is moderated by the
presence of only three global equipment producers.

Moody's notes that CNH's improving operating efficiencies,
combined with favorable market conditions in the farm sector,
contributed to a steady improvement in its margins and returns on
assets through 2008.  In addition, more stringent operating
controls also enabled CNH to significantly reduce working capital
during the current downturn and thereby remain on track to
generate considerable free cash flow for 2009.  Despite this
progress, the severity of the current cyclical downturn will
result in most of CNH's key credit metrics being very weak during
2009.  The Ba3 rating anticipates that CNH's core competitive
strengths, its restructuring initiatives, and the solid
fundamentals in the farm sector will enable the company to restore
credit metrics that more solidly support the current rating.

The Speculative Grade Liquidity rating of SGL-3 indicates an
adequate ability to fund all maturing obligations during the
coming twelve months.  Key liquidity sources include industrial
operation free cash flow that could approach $1 billion, cash and
securities (excluding deposits with CNH's parent - Fiat SpA) of
approximately $.9 billion, and $343 million available under a
committed credit facility.  These sources provide adequate
coverage for approximately $1.3 billion in debt and credit
facilities (excluding obligations due to Fiat) that mature during
the coming twelve months.

CNH's financial services operations have a managed portfolio of
approximately $18 billion in retail and wholesale receivables.
Providing retail and wholesale funding is critical to maintaining
the competitive position of the industrial business.  However, the
financial services operations are heavily dependent upon the
securitization market to raise the funds necessary to support its
retail and wholesale lending activities.  This heavy reliance on
the ABS market is an ongoing source of potential risk for CNH.
The contraction in the ABS market during late 2008 and early 2009
severely limited the funding sources available to CNH's financial
service operations.  The resulting shortfall was largely met
through inter-company advances from Fiat.  However, Fiat's own
liquidity position is modest, and its ability to provide
meaningful levels of funding to CNH in the future could be
strained.  Consequently, Moody's does not view potential funding
support from Fiat for CNH as an assured source of liquidity.

Moody's notes, however, that the previously strained liquidity
positions of both CNH and Fiat are improving.  Fiat recently
completed the issuance of euro 1.25 billion in medium-term notes,
and CNH has begun to re access the US ABS markets.  These
transactions, in combination with the proposed $1 billion issuance
by CNH, will contribute much needed progress in solidifying the
liquidity base of the two companies.

The stable rating outlook anticipates that CNH will steadily
strengthen its credit metrics through 2010 by lowering its cost
base in construction equipment and by marinating a competitive
position in the farm equipment sector.  The outlook expects that
free cash generation for 2009 will be close to $ 1 billion, and
that the company will remain on track to achieving EBITA/interest
comfortably in excess of 2 times, and debt/EBITDA of approximately
4 times.  A lack of progress in achieving these metrics could
result in pressure on the rating.  An ability to sustain
EBIT/interest above 2.5x and debt/EBITDA below 3.5x could support
improvement in the rating.

The last rating action for CNH was a change in the outlook to
stable from negative on March 12, 2007.

Case New Holland Inc. is a wholly-owned subsidiary of CNH Global
N.V.  which is headquartered in the Netherlands.  CNH is a leading
global producer of agricultural and construction equipment.


CDX GAS: Court Approves Second Amended Disclosure Statement
-----------------------------------------------------------
The Hon. Letitia Paul of the U.S. Bankruptcy Court for the
Southern District of Texas approved the disclosure statement
explaining the second amended joint Chapter 11 plan of
reorganization filed by CDX Gas LLC and its debtor-affiliates.  A
hearing is set for September 22, 2009, to consider confirmation of
the plan.  Objections, if any, are due September 1, 2009.

According to Law 360, CDX Gas won approval to begin soliciting
votes on the Plan, despite objections from a coal company that the
disclosure statement did not clearly define how certain contracts
would be treated.

As reported on the Troubled Company Reporter on August 11, 2009,
the Debtors filed a document containing three separate Chapter 11
plans.  The three Chapter 11 plans are explained in detail under
a "Joint Chapter 11 Plan" and explanatory disclosure statement.
For purposes of voting on the Joint Chapter 11 Plan and receiving
distributions under the Plan, votes will be tabulated separately
for each of the Reorganizing Debtors.  A failure to confirm any
one or more of the plans will not affect other plans confirmed by
the Bankruptcy Court.

The Debtors owe $6.8 million as of August 1, 2009, under a first
lien debt.  The Debtors owed $400 million of principal outstanding
plus an additional amount for interest under a second lien debt as
of the petition date.

                      Three Chapter 11 Plans

(i) CDX Acquisition Company, LLC

The Plan for CDX Acquisition will be a liquidating plan.  On the
effective date of the Plan, the Debtor will be dissolved by
operation of the Plan without any further action by the members,
shareholders, directors, managers or any other Person or Entity
holding any Equity Interest.  An Acquisition Wind-Up
Representative will be appointed by existing equity owners of the
Debtor to effectuate the dissolution and winding up of the
Company.  The Representative will also take possession and control
of the assets of Acquisition and making distributions under the
Acquisition Plan.

Under the Acquisition Plan, general unsecured claims will receive
no distribution on their Claims.

(ii) CDX Gas LLC

The Plan for CDX Gas' is a reorganization plan.  Holders of debt
backed by second priority liens on CDX's assets will receive 95.5%
of the membership interests of reorganized CDX Gas.  Holders of
first lien debt will receive full payment.

The initial board of directors of Reorganized CDX Gas will consist
of five directors designated by Credit Suisse, in its capacity as
administrative agent to holders of Second Lien Debt Claims.

Holders of Second Lien Debt Claims were given superpriority
administrative claims for diminution in value of their collateral.
These claimants have suffered significant diminution in value of
their collateral securing their claims in an amount not less than
$200 million, and the amount exceeds amounts recoverable under
potential avoidance actions.  In partial satisfaction, release,
settlement and discharge of the superpriority Administrative
claims, the Reorganizing Debtors will assign all avoidance actions
to the Second Lien Debt Agent who in turn, will be deemed to
simultaneously transfer the Avoidance Actions to Reorganized CDX
Gas in partial consideration of the issuance of the New CDX Gas
Membership Interests.  As a result, all the causes of action are
specifically preserved with the Reorganized CDX Gas having sole
authority to bring the causes of action.

Holders of allowed general unsecured claims will receive on the
effective date of the Plan pro rata share of distributions to be
provided by a creditors' trust.

CDX Minerals, CDX Panther and CDX Plum Creek will be merged with
and into CDX Gas with any Claims against any of the CDX Gas
Merging Entities to be considered as Claims against CDX Gas.

If the CDX Gas Plan is confirmed and becomes effective, the
Chapter 11 bankruptcy cases of affiliates CDX Tapicito, CDX BC,
CDX Sequoya, CDX Gas International, CDX Services, CDX Isolate,
Cahaba Gathering and CDX Operating will be, at the option of CDX
Gas, either (i) converted to cases under Chapter 7 of the
Bankruptcy Code or (ii) dismissed.

(iii) CD Exploration, LLC (formerly CD Exploration, Inc.)

CDX Gas currently holds an intercompany claim against CDX Canada
in the approximate amount of $31.0 million.  On the Effective
Date, CDX Gas will transfer as an equity contribution to CD
Exploration in the approximate amount of $7.3 million of the
intercompany claim and after contribution, CDX Canada and
Reorganized CD Exploration will effect offsets of all Intercompany
Claims between Reorganized CD Exploration and CDX Canada.

CDX East and CMV JV will be merged with and into CD Exploration
with any Claims against any of these merging entities to be
considered as claims against CD Exploration.

Holders of Second Lien Debt Claims will receive membership
interests in reorganized CD Exploration.  Holders of allowed
general unsecured claims will receive no distribution on their
claims.

Copies of the Plan and the Disclosure Statement are available for
free at:

      http://bankrupt.com/misc/CDX_DiscStatement.pdf
      http://bankrupt.com/misc/CDX_Plan.pdf


Based in Houston, Texas, CDX Gas LLC -- http://www.cdxgas.com/--
is an independent gas company that explores, develops, and
produces onshore North American unconventional natural gas
resources located in coal, shale, and tight gas sandstone
formations.  The Company and 19 of its affiliates filed for
Chapter 11 protection on December 12, 2008 (Bankr. S.D. Tex. Lead
Case No. 08-37922).  CDX Rio, LLC, an entity in which CDX Gas
indirectly owns a 90% membership interest, and Arkoma Gathering,
LLC, an entity in which CDX Gas owns a 75% membership interest,
filed for Chapter 11 protection on April 1, 2009.  In its
schedules, CDX listed total assets of $996,308,606 and total debts
of $831,259,526.

Harry Perrin, Esq., D. Bobbitt Noel, Esq., John E. Mitchell, Esq.,
and Michaela C. Crocker, Esq., at Vinson Elkins LLP, represent the
Debtors in their restructuring efforts.  Gardere Wynne Sewell LLP,
serves as conflicts counsel.  Epiq Bankruptcy Solutions, LLC, is
the claims and noticing agent.  The Debtors also hired Ryder Scott
Company, L.P. as Petroleum Consultants; Wilhoit & Kaiser as
special title examination counsel; Fish & Richardson LLP as
Special Intellectual Property Counsel; Deloitte Tax LLP as Tax
Consultants; and Jefferies & Company, Inc. as valuation experts.

On January 7, 2009, the Office of the United States Trustee
informed the Court of its inability to solicit sufficient interest
from creditors to form an official committee of unsecured
creditors.


CHARTER COMMUNICATIONS: Amends P. Allen & Noteholders Pacts
-----------------------------------------------------------
Charter Communications Inc. and its affiliates notify the
Bankruptcy Court and parties-in-interest that the restructuring
agreements dated February 11, 2009, between certain of the Debtors
and (i) certain unaffiliated holders of those certain CCH I, LLC
and CCH II, LLC note issuances, and (ii) Paul G. Allen, have been
amended, to provide, among other things that this provision will
be stricken from Article IV.H.4(c) of the Plan:

  "provided that the applicable Debtors may pay Post-Petition
   Interest in Cash if the applicable Debtors elect such option
   on or before the Effective Date by filing a notice of such
   election with the Court on or before the Effective Date."

A copy of the forms of the Noteholder Amendment and the Allen
Amendment is available for free at:

http://bankrupt.com/misc/CCI_RestructuringAgreements_080209.pdf

The Debtors note that they also provided notice of the Amendments
to certain parties, including the Office of the United States
Trustee, counsel to the official committee of unsecured creditors
and counsel to the agent under the Debtors' prepetition first lien
credit facility.

The Restructuring Agreements provide and require, among other
things, that the Debtors file for bankruptcy to implement a
restructuring pursuant to a joint plan of reorganization aimed at
improving their capital structure.

                 About Charter Communications

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

Charter Communications and more than a hundred affiliates filed
voluntary Chapter 11 petitions on March 27, 2009 (Bankr. S.D.N.Y.
Case No. 09-11435).  As of March 31, 2009, the Debtors had
total assets of $13,650,000,000, and total liabilities of
$24,501,000,000.  Pacific Microwave filed for bankruptcy April 20,
2009, disclosing assets of not more than $50,000 and debts of more
than $1 billion.

Charter filed its Chapter 11 petitions to implement a financial
restructuring, which, upon approval, would reduce the Company's
debt by approximately $8 billion.

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

Ernst & Young LLP is the Debtors' tax advisors.  KPMG LLP is the
Debtors' independent auditors.  The Debtors' valuation
consultants are Duff & Phelps LLC; the Debtors' financial advisors
are Lazard Freres & Co. LLC; and the Debtors' restructuring
consultants are AlixPartners LLC.  The Debtors' regulatory counsel
is Davis Wright Tremaine LLP, and Friend Hudak & Harris LLP.  The
Debtors' claims agent is Kurtzman Carson Consultants LLC.

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


CHARTER COMMUNICATIONS: Reports $112 Million Net Loss in 2nd Qrtr
-----------------------------------------------------------------
Charter Communications, Inc., reported financial and
operating results for the three and six months ended June 30,
2009.

    Key year-over-year highlights:

    -- Second quarter revenues of $1.690 billion grew 4.4% on a
       pro forma1 basis and 4.1% on an actual basis; primarily
       driven by increases in telephone and high-speed Internet
       (HSI) revenues.

    -- Second quarter adjusted EBITDA2 of $638 million grew 8.3%
       on a pro forma basis and 8.0% on an actual basis.

    -- Second quarter adjusted EBITDA margin of 37.8% increased
       140 basis points on a pro forma and actual basis.

    -- Total average monthly revenue per basic video customer
       (ARPU) for the quarter increased 8.3% year-over-year to
       $113.29, driven by increased sales of The Charter
       Bundle(TM).

    -- Commercial revenues increased 15.8% year-over-year on a
       pro forma basis and 14.6% on an actual basis, accounting
       for more than 20% of total second quarter revenue growth,
       primarily driven by the Charter Business Bundle.

"Charter is reporting solid results in a challenging environment,
where consumers are in search of the best value.  Many people are
spending more time at home and want the best entertainment and
communications services for their money.  We are listening and are
providing value to customers' homes and businesses through the
bundle and enhanced products, as well as improved customer
service," said Neil Smit, President and Chief Executive Officer.

"Charter has developed a portfolio of solutions to both improve
communications with our customers and personalize the customer
experience including Day of Service, where a dedicated Charter
team assists customers with any questions on the day of an
appointment, as well as a Social Media team, shorter service
arrival windows and a growing loyalty program.  We are also
improving our product offerings with the addition of more video on
demand and high-definition on demand choices.

"For our business customers, we have launched Charter Business
Voice Trunk T1-PRI (primary rate interface) telephone service that
supports call centers, offices with large numbers of employees,
and companies generating a high-volume of calls."

Key Operating Results

All of the following customer growth and ARPU statistics are
presented on a pro forma basis.  Charter served approximately
12.5 million revenue generating units as of June 30, 2009.
Approximately 55% of Charter's customers subscribe to a bundle, up
from 50% in the second quarter of 2008.  Charter's pro forma ARPU
for the second quarter of 2009 was $113.29, an increase of 8.3%
compared to second quarter 2008, primarily as a result of higher
bundled penetration.

Second quarter 2009 customer changes (on a pro forma basis)
included the following:

    -- Digital video customers declined by approximately 5,700
       and basic video customers decreased by 73,300 during the
       second quarter.  Video ARPU was $61.35 for the second
       quarter of 2009, up 4.3% year-over-year.

    -- HSI customers grew by approximately 10,600 during the
       second quarter of 2009.  HSI ARPU of $41.41 increased
       approximately 1.8% compared to the year-ago quarter,
       driven by customer upgrades to higher levels of service.

    -- Second quarter 2009 net gains of telephone customers were
       approximately 56,900.  Telephone penetration is now 14.0%
       of approximately 10.6 million telephone homes passed as
       of June 30, 2009.

As of June 30, 2009, Charter served approximately 5,361,600
customers and the Company's 12,519,600 RGUs were comprised of
4,929,900 basic video, 3,152,000 digital video, 2,957,700 HSI, and
1,480,000 telephone customers.

Second Quarter Results - Actual and Pro forma

Second quarter revenues of $1.690 billion increased 4.4% compared
to the year-ago quarter on a pro forma basis and 4.1% on an actual
basis.  The increase resulted primarily from telephone and HSI
revenue growth.

Telephone revenues for the 2009 second quarter were $177 million,
a 32.1% increase over second quarter 2008, driven by a larger
telephone customer base and an increase in telephone ARPU.  HSI
revenues were $367 million, up 8.3% year-over-year on an actual
basis, due to an increased number of customers and ARPU growth.
Video revenues were $873 million, essentially flat with the year-
ago quarter, primarily as a result of digital and advanced
services revenue growth, offset by a decline in basic video
customers.  Commercial revenues rose to $110 million, a 14.6%
increase year-over-year on an actual basis, resulting from
increased sales of the Charter Business Bundle(R) primarily to
small and medium-size businesses, growth in our fiber-based data
services and the launch of PRI services.  Advertising sales
revenues declined 17.3% year-over-year to $62 million for the
second quarter of 2009 primarily as a result of significant
decreases in revenues from the political, automotive and retail
sectors.

Operating costs and expenses totaled $1.052 billion for the second
quarter of 2009, a 1.9% increase on an actual basis compared to
the year-ago period.  Operating expenses for the 2009 second
quarter, which include programming, service and advertising sales
costs, were $715 million, a 2.4% increase year-over-year on an
actual basis, primarily as a result of increased programming
costs.  Selling, general, and administrative expenses were
$337 million, an increase of less than 1.0% on an actual basis
compared to the year-ago quarter, reflecting efficiencies gained
in our operations.

Adjusted EBITDA for the second quarter of 2009 rose to
$638 million, up 8.3% compared to the year-ago period on a pro
forma basis and up 8.0% on an actual basis.

Charter reported $301 million of income from operations in the
second quarter of 2009, compared to $230 million in the second
quarter of 2008 on an actual basis.  Net loss for the second
quarter of 2009 was $112 million, or 30 cents per common share.
For the second quarter of 2008, Charter reported actual net loss
of $274 million and a net loss per common share of 74 cents.  The
increase in income from operations resulted primarily from the
increase in sales of our bundled services, improved cost
efficiencies and a decrease in other operating expenses, net.  The
decrease in net loss resulted from the same factors along with a
decrease in interest expense resulting from not recording
contractual interest on debt subject to compromise and the
allocation of losses of $47 million to noncontrolling interest
beginning January 1, 2009, based on the adoption of Statement of
Financial Accounting Standards No. 160, partially offset by
expenses related to the financial restructuring underway at
Charter.  While operating during the Chapter 11 proceedings, the
Company ceased recording interest on its debt subject to
compromise as of March 27, 2009, except on CCH II, LLC ("CCH II")
debt.  The Company will continue to accrue interest on CCH II's
debt as it intends to pay the interest under its Joint Plan of
Reorganization.  This amount is recorded as accrued interest in
liabilities subject to compromise.  The amount of contractual
interest expense not recorded for the three and six months ended
June 30, 2009, was approximately $206 million and $215 million,
respectively.

Expenditures for property, plant, and equipment for the second
quarter of 2009 were $271 million, compared to second quarter 2008
expenditures of $316 million.  The decrease in capital
expenditures is primarily the result of declines in customer
premise equipment and support capital expenditures.

Net cash flows from operating activities for the second quarter of
2009 were $438 million, compared to actual net cash flows used in
operating activities of $36 million in the second quarter of 2008.
The change in net cash flows from operating activities is
primarily due to a decrease in cash paid for interest, and an
increase in adjusted EBITDA, partially offset by costs associated
with the on-going restructuring.

Year to Date Results - Pro forma

Pro forma revenues for the six months ended June 30, 2009, were
$3.351 billion, an increase of 5.4%, or $173 million, over pro
forma 2008 results.

Pro forma adjusted EBITDA for the first six months of 2009 totaled
$1.254 billion, an increase of 10.7% compared to the pro forma
results for the year-ago period.  The pro forma adjusted EBITDA
margin increased 170 basis points for the first half of the year
to 37.4%, up from 35.7% in the year-ago period on a pro forma
basis.

Year to Date Results - Actual

Revenues of $3.352 billion for the six months ended June 30, 2009,
increased 5.2% compared to the year-ago period.  The increase
resulted primarily from telephone and HSI revenue growth.

Telephone revenues for the first half of 2009 were $346 million, a
35.7% increase over the first half of 2008, driven by a larger
telephone customer base and an increase in telephone ARPU.  HSI
revenues were $727 million, up 9.0% year-over-year.  Video
revenues were $1.745 billion, up just under 1.0% year-over-year.
Commercial revenues rose to $217 million, a 14.8% increase year-
over-year.  Advertising sales revenues declined 18.9% year-over-
year to $116 million for the first half of 2009.

Operating costs and expenses totaled $2.098 billion for the first
six months of 2009, a 2.3% increase compared to the year-ago
period.  Operating expenses for the 2009 first half of the year,
which include programming, service and advertising sales costs,
were $1.428 billion, a 3.5% increase year-over-year.  Selling,
general, and administrative expenses were $670 million,
essentially flat with the year-ago period, reflecting efficiencies
gained in our operations.  Operating costs and expenses also
reflect certain modified payment terms made during the first
quarter which reduced costs and expenses by approximately
$6 million.

Adjusted EBITDA for the six months ended June 30, 2009, rose
to $1.254 billion, up 10.4% compared to the year-ago period.

Charter reported $635 million of income from operations in the
first half of 2009, compared to $435 million in the first half of
2008.  Net loss for the first six months of 2009 was $317 million,
or 84 cents per common share.  For the first six months of 2008,
Charter reported a net loss of $633 million and a net loss per
common share of $1.71.  The increase in income from operations
resulted primarily from the increase in sales of the Company's
bundled services, improved cost efficiencies, and favorable
litigation settlements in 2009.  The decrease in net loss resulted
from the same factors along with a decrease in interest expense
and the allocation of losses of $176 million to noncontrolling
interest, partially offset by expenses related to the financial
restructuring underway at Charter.

Expenditures for property, plant, and equipment for the first six
months of 2009 were $540 million, compared to first half of 2008
expenditures of $650 million.  The decrease in capital
expenditures is primarily the result of higher spending on
scalable infrastructure during the first half of 2008 related to
HSI and headend upgrades combined with lower expenditures on
support capital.

Net cash flows from operating activities for the first six months
of 2009 were $625 million, compared to $168 million in the first
half of 2008.  The change in net cash flows from operating
activities is primarily due to a decrease in cash paid for
interest, and an increase in adjusted EBITDA, partially offset by
costs associated with the on-going restructuring.

Mr. Smit concluded, "We continue to achieve greater operating
efficiencies, and as a result, Charter today is a much more nimble
organization, and better positioned for the current environment.
I am also pleased with the progress we are making with our
financial restructuring and commend our employees for continuing
to provide our customers with superior service and value
throughout this process."

Restructuring

As of June 30, 2009, Charter had $21.610 billion in debt,
$9.853 billion of which was classified as liabilities subject to
compromise due to Charter's restructuring efforts.  As previously
announced, on March 27, 2009, Charter filed its pre-arranged Joint
Plan of Reorganization (the "Pre-Arranged Plan") and Chapter 11
petitions in the United States Bankruptcy Court for the Southern
District of New York (the "Bankruptcy Court") in order to
implement a financial restructuring that, upon approval, would
reduce the Company's debt by approximately $8 billion.  On
July 20, 2009, Charter began the hearing for the Bankruptcy Court
to consider confirmation of Charter's Pre-Arranged Plan, which
hearing is ongoing.  If confirmed by the Bankruptcy Court, the
Pre-Arranged Plan will become effective once all its closing
conditions have been met, at which point Charter will conclude the
Chapter 11 process.  As a debtor in possession, the Company is
authorized to transact business in the ordinary course of business
and, as such, has been paying its trade creditors in full in the
normal course.  Charter expects that cash on hand and cash flows
from operating activities will be adequate to fund its projected
cash needs as it proceeds with its financial restructuring.

A full-text copy of Charter Communications Inc.'s 2009 Second
Quarterly Report on Form 10-Q filed with the Securities and
Exchange Commission is available for free at:

             http://researcharchives.com/t/s?413a

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

                            ASSETS
Current Assets:
  Cash and cash equivalents                        $992,000,000
  Accounts receivable, net of allowance             215,000,000
  Prepaid expenses & other current assets            80,000,000
                                                 --------------
Total Current Assets                              1,287,000,000

Investment in Cable Properties:
  Property, plant and equipment, net              4,871,000,000
  Franchises, net                                 7,377,000,000
                                                 --------------
Total investment in cable properties, net        12,248,000,000
                                                 --------------
Other Noncurrent Assets                             205,000,000
                                                 --------------
Total assets                                    $13,740,000,000
                                                 ==============

           LIABILITIES AND SHAREHOLDERS' DEFICIT

Current Liabilities:
  Accounts payable and accrued expenses          $1,388,000,000
  Current portion of long-term debt              11,757,000,000
                                                 --------------
Total Current Liabilities                        13,145,000,000

Long-Term Debt                                                 -
Note Payable ? Related Party                                   -
Deferred Management Fees - Related Party                       -
Other Long-Term Liabilities                         738,000,000
Liabilities subject to compromise                10,587,000,000
Temporary equity                                    259,000,000
                                                 --------------
                                                 11,584,000,000
Shareholders' deficit
  Class A common stock                                        -
  Class B common stock                                        -
  Preferred stock                                             -
  Additional paid-in capital                      5,398,000,000
  Accumulated deficit                           (15,914,000,000)
  Accumulated other comprehensive loss             (297,000,000)
                                                 --------------
  Total Charter shareholders' deficit           (10,813,000,000)

  Noncontrolling interest                          (176,000,000)
                                                 --------------
  Total Shareholders' deficit                   (10,989,000,000)
                                                 --------------
Total Liabilities and Shareholders' Deficit     $13,740,000,000
                                                 ==============

        Charter Communications, Inc., and Subsidiaries
             Consolidated Statement of Operations
                  Quarter Ended June 30, 2009

REVENUES:                                        $1,690,000,000

COSTS AND EXPENSES:
  Operating, excl. depreciation & amortization      715,000,000
  Selling, general and administrative               343,000,000
  Depreciation and amortization                     329,000,000
  Other operating (income) expenses, net              2,000,000
                                                 --------------
  Operating costs and expenses                    1,389,000,000
                                                 --------------
Income from operations                              301,000,000

OTHER INCOME (EXPENSES):
  Interest expense, net                            (216,000,000)
  Change in value of derivatives                              -
  Reorganization items, net                        (184,000,000)
  Other income (expense), net                                 -
                                                 --------------
                                                   (400,000,000)
                                                 --------------
  Loss before income taxes                          (99,000,000)
                                                 --------------
  Income tax expense                                (60,000,000)
                                                 --------------
  Consolidated net loss                            (159,000,000)
  Less: Net(income) loss - noncontrolling
        Interest                                     47,000,000
                                                 --------------
  Net Loss - Charter shareholders                 ($112,000,000)
                                                 ==============

        Charter Communications, Inc., and Subsidiaries
             Consolidated Statement of Cash Flows
                Six Months Ended June 30, 2009

CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss - Charter shareholders                   ($317,000,000)
Adjustments to reconcile net loss to net
cash flows from operating activities:
  Depreciation and amortization                     650,000,000
  Noncash interest expense                           26,000,000
  Change in value of derivatives                      4,000,000
  Noncash reorganization items, net                 131,000,000
  Deferred income taxes                             116,000,000
  Noncontrolling interest                          (176,000,000)
  Other, net                                         19,000,000
Changes in operating assets and liabilities,
net of effects from dispositions
  Accounts receivable                                 7,000,000
  Prepaid expenses and other assets                 (44,000,000)
  Accounts payable, accrued expenses and other      209,000,000
                                                 --------------
  Net cash flows from operating activities          625,000,000

CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment         (540,000,000)
Change in accrued expenses related
  to capital expenditures                           (19,000,000)
Other, net                                                    -
                                                 --------------
  Net cash flows from investing activities         (559,000,000)

CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings of long-term debt                                  -
Repayments of long-term debt                        (34,000,000)
Payments for debt issuance costs                              -
Other, net                                                    -
                                                 --------------
  Net cash flows from financing activities          (34,000,000)
                                                 --------------
NET INCREASE (DECREASE) IN CASH & CASH EQUIVS.       32,000,000
CASH AND CASH EQUIVALENTS, beginning of period      960,000,000
                                                 --------------
CASH AND CASH EQUIVALENTS, end of period           $992,000,000
                                                 ==============

                 About Charter Communications

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

Charter Communications and more than a hundred affiliates filed
voluntary Chapter 11 petitions on March 27, 2009 (Bankr. S.D.N.Y.
Case No. 09-11435).  As of March 31, 2009, the Debtors had
total assets of $13,650,000,000, and total liabilities of
$24,501,000,000.  Pacific Microwave filed for bankruptcy April 20,
2009, disclosing assets of not more than $50,000 and debts of more
than $1 billion.

Charter filed its Chapter 11 petitions to implement a financial
restructuring, which, upon approval, would reduce the Company's
debt by approximately $8 billion.

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

Ernst & Young LLP is the Debtors' tax advisors.  KPMG LLP is the
Debtors' independent auditors.  The Debtors' valuation
consultants are Duff & Phelps LLC; the Debtors' financial advisors
are Lazard Freres & Co. LLC; and the Debtors' restructuring
consultants are AlixPartners LLC.  The Debtors' regulatory counsel
is Davis Wright Tremaine LLP, and Friend Hudak & Harris LLP.  The
Debtors' claims agent is Kurtzman Carson Consultants LLC.

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


CHEMTURA CORP: Has 117 Million Net Loss for Quarter Ended June 30
-----------------------------------------------------------------
Chemtura Corporation, debtor-in-possession, (Pink Sheets: CEMJQ)
(the "Company" or "Chemtura") reported that it has filed its
Quarterly Report on Form 10-Q for the second quarter.  This
release summarizes the financial results for the second quarter of
2009 and investors are encouraged to review the Form 10-Q for more
details of the performance for the quarter.  The Company recorded
a net loss of $118 million, or $0.49 per share, for the second
quarter of 2009 and a net loss on a managed basis of $6 million,
or $0.02 per share, for the second quarter of 2009.

           Second Quarter 2009 Financial Results

  The following is a summary of first quarter results on a
  GAAP basis:

  ----------------------------------------------------------
  (In millions, except per share data)   First Quarter
  ------------------------------  ---------------------------
                                    2009    2008    % Change
                                  -------- ------- ----------
   Net Sales                         $687   $1,023     (33%)
   Operating (loss) profit           ($75)   ($241)     69%
   Net (loss) earning               ($118)   ($273)     57%
   Net (loss) earnings per share   ($0.39)  ($1.13)     57%


  The following is a summary of first quarter results on a
  managed basis:

  ----------------------------------------------------------
  (In millions, except per share data)   First Quarter
  ------------------------------  ---------------------------
                                    2009    2008    % Change
                                  -------- ------- ----------
  Net Sales                          $687  $1,023     (33%)
  Operating (loss) profit             $30     $90     (67%)
  Net (loss) earning                  ($6)    $45      NM*
  Net (loss) earnings per share    ($0.02)  $0.18      NM*

    * not meaningful

                   U.S. Chapter 11 Proceedings

    * On July 13, 2009, the Company and parties to the $400
      million senior secured debtor-in-possession credit
      facility (the "DIP Credit Facility") entered into
      Amendment No. 2 to the DIP Credit Facility which provides
      for, among other things, an option by the Company to
      extend the maturity of the DIP Credit Facility for two,
      consecutive three month periods.  Prior to Amendment No.
      2, the DIP Credit Facility matured on the earlier of 364
      days or the effective date of a plan of reorganization.

    * On July 28, 2009, the Court approved an extension of the
      exclusive right of Chemtura, the parent company, and the
      26 subsidiaries organized in the United States that filed
      for relief under Chapter 11 of Title 11 of the United
      States Bankruptcy Code (collectively, the "Debtors") to
      file a plan of reorganization.  The extension expires on
      November 13, 2009.

                     Impairment of Long-Lived Assets

    * In the second quarter of 2009, the Company developed and
      completed a new five-year long range plan.  Based on the
      detailed cash flow projections, the Company recorded
      impairments of long-lived assets as follows:

      -- $37 million goodwill impairment charge for the Consumer
         Performance Products segment; and

      -- $60 million impairment charge relating to PVC
         Additives, a component of Industrial Engineered
         Products, impacting property, plant and equipment and
         intangible assets.

          Second Quarter 2009 Business Segment Highlights

    * Consumer Performance Products revenues declined 13% or $26
      million compared with the second quarter of 2008 due to
      reduced sales volume primarily driven by cooler and wetter
      weather than normal in the northeastern and mid-western
      regions of the United States, some weakness in demand
      attributed to economic conditions in both the United
      States and Europe, and the deemphasizing of participation
      in the distribution channel.  The volume impact was
      partially offset by the benefit of price increases.
      Operating profit decreased $2 million primarily due to the
      impact from the reduction in sales volume.

    * Industrial Performance Products revenues declined 38% or
      $148 million driven primarily by reduced sales volume.
      While all product lines saw reduced sales volume due to
      the recession, antioxidant and urethane products saw the
      greatest impact.  Operating profit decreased $13 million
      primarily due to the impact from the reduction in sales
      volume and the resulting impact of unfavorable
      manufacturing costs.

    * Crop Protection Engineered Products revenues declined 23%
      or $26 million primarily due to lower sales volume and
      unfavorable foreign currency translation.  With growers
      facing restricted credit, the season started more slowly
      than usual, particularly in Europe, but demand returned to
      more normal levels by the end of the second quarter.
      Operating profit decreased $12 million primarily due to
      the impact of lower sales volume.

    * Industrial Engineered Products revenues declined 42% or
      $136 million primarily due to reduced sales volume.
      Products sold to electronic, building and construction,
      and consumer durable polymer applications continued to
      show the most dramatic year-over-year reductions from the
      impact of the global recession.  Nevertheless, demand
      showed modest improvement compared with the first quarter
      of 2009 as the most significant effects of inventory de-
      stocking abated.  Operating loss of $11 million
      deteriorated $36 million from the second quarter of 2008
      primarily due to lower volume and the resulting impact of
      unfavorable manufacturing costs.

    * Corporate expense for the second quarter of 2009 was
      $22 million compared with $15 million in the same quarter
      last year.  Corporate expense included amortization expense
      related to intangibles of $9 million and $11 million for
      the second quarters ended 2009 and 2008, respectively.
      The increase in corporate expense of $7 million was
      primarily driven by a pension plan curtailment gain in
      2008 which reduced expense in the second quarter of 2008.

                   Second Quarter Results - GAAP

    * Revenue for the second quarter of 2009 was $687 million
      compared with second quarter 2008 revenue of
      $1,023 million.  The decrease in revenue was attributable
      to reduced sales volumes of $316 million (primarily due to
      the global recession) and unfavorable foreign currency
      translation of $24 million, partially offset by higher
      selling prices of $4 million.

    * Gross profit for the second quarter of 2009 was
      $152 million, a decrease of $96 million compared with the
      same quarter of last year.  Gross profit as a percentage of
      sales decreased to 22% in the second quarter of 2009 from
      24% in the same quarter of last year.  The Company
      succeeded in mitigating most of the impact on the
      percentage gross profit margins of lower volume and
      manufacturing capacity utilization through efforts to
      variablize costs and leverage lower raw material cost.
      The decrease in gross profit was primarily due to a
      $75 million impact from reduced volume and unfavorable
      Product mix; $35 million from unfavorable manufacturing
      costs (primarily due to lower plant utilization); $6 million
      from unfavorable foreign currency translation; a
      $3 million benefit in 2008 from insurance proceeds
      associated with the 2005 hurricanes Katrina and Rita;
      $1 million in inventory write-offs; and other cost increases
      of $5 million.  These impacts were partially offset by an
      $18 million decrease in raw material and energy costs; a
      $7 million reduction in distribution costs; and $4 million
      benefit from higher selling prices.

    * The operating loss for the second quarter of 2009 was
      $75 million compared with an operating loss of $241 million
      for the second quarter of 2008.  The decrease in the
      operating loss is primarily due to a $320 million goodwill
      impairment charge for the Consumer Performance Products
      segment in the second quarter of 2008; a $23 million
      decrease in selling, general and administrative, and
      research and development costs ("SGA&R") primarily due to
      savings from the Company's restructuring programs; a
      $14 million decrease in depreciation and amortization
      primarily due to lower accelerated depreciation of
      property, plant and equipment; a $3 million decrease in
      antitrust costs; and a $1 million decrease in loss on the
      sale of businesses.  These favorable impacts were
      partially offset by a $96 million decrease in gross profit
      discussed above; a $60 million impairment charge for PVC
      Additives, a component of Industrial Engineered Products,
      relating to the write-down of property, plant and
      equipment and intangible assets; a $37 million goodwill
      impairment charge for the Consumer Performance Products
      segment in the second quarter of 2009; and lower equity
      income of $2 million.

    * Interest expense of $15 million for the second quarter of
      2009 was $4 million lower than the same period in 2008.
      Lower interest expense from unrecorded contractual
      interest expense on unsecured debt as a result of the
      Chapter 11 filing was partially offset by an increase due
      to borrowings under the DIP Credit Facility and higher
      average borrowings under the senior credit facility.

    * Other expense, net increased by $19 million in the second
      quarter of 2009 as compared with the same quarter last
      year.  The increase primarily reflects foreign exchange
      losses from un-hedged balance sheet positions in 2009 due
      to the Company's inability to purchase foreign currency
      forward contracts, partially offset by lower fees
      associated with the termination of its U.S. and European
      accounts receivable financing facilities.

    * Reorganization items, net amounted to $6 million and
      represent items realized or incurred by the Company
      related to its reorganization under Chapter 11.
      Reorganization items, net includes professional fees
      directly associated with the reorganization, partially
      offset by gains on the settlement of certain pre-petition
      liabilities.

    * Net loss attributable to Chemtura for the second quarter
      of 2009 was $118 million, or $0.49 per share, compared
      with a loss of $273 million, or $1.13 per share, for the
      second quarter of 2008.  The decrease primarily reflects
      the $166 million decrease in operating loss discussed
      above; an $11 million decrease in income tax expense; and
      a $4 million decrease in interest expense, partially
      offset by a $19 million increase in other expense, net;
      $6 million in reorganization items, net; and $1 million of
      net income attributable to non-controlling interests.

              Second Quarter Results - Managed Basis

    * On a managed basis, second quarter 2009 gross profit was
      $152 million, or 22% of net sales, as compared with second
      quarter 2008 managed basis gross profit of $245 million, or
      24% of net sales.  Increases in manufacturing costs due to
      lower plant utilization were the primary drivers of the
      reduction in margin percentage.

    * On a managed basis, second quarter 2009 operating profit
      was $30 million as compared with second quarter 2008
      operating profit of $90 million.  The decrease in operating
      profit primarily reflects the decrease in gross profit due
      to lower sales volumes, partially offset by decreases in
      SGA&R costs primarily due to the benefit of the Company's
      restructuring programs, and lower depreciation and
      amortization expense.

    * The loss before income taxes on a managed basis in 2009
      and the earnings before income taxes on a managed basis in
      2008 exclude pre-tax GAAP charges of $111 million and
      $331 million, respectively.  These charges are primarily
      related to costs associated with the Chapter 11
      reorganization; accelerated depreciation of property, plant
      and equipment; antitrust costs; loss on sale of businesses;
      impairment of long-lived assets; pension curtailment gains;
      and a recovery of insurance proceeds associated with the
      2005 hurricanes Katrina and Rita.

Chemtura's managed basis tax rate of 35% represents a standard tax
rate for the Company's core operations to simplify comparison of
underlying operating performance during the course of the Chapter
11 proceedings.  The Company has chosen to apply this rate to pre-
tax income on a managed basis.

                       Cash Flows - GAAP

    * Net cash provided by operating activities in the quarter
      ended June 30, 2009 was $22 million as compared with net
      cash provided by operating activities of $10 million in
      the quarter ended June 30, 2008.  As a result of the
      Chapter 11 filing, payments related to accounts payable
      were lower in the quarter due to the automatic stay on the
      payment of prepetition liabilities, benefiting cash
      provided by operating activities.  The Company is re-
      establishing more favorable trade credit terms with its
      vendors for the post Chapter 11 filing purchase of goods
      and services, but, in the aggregate, trade credit terms
      are still significantly unfavorable compared to historical
      levels.

    * The Company's remaining accounts receivable financing
      facility terminated in June 2009.  The balance of accounts
      receivable sold under the Company's accounts receivable
      financing facilities was $103 million as of December 31,
      2008 and $350 million as of June 30, 2008.

    * The reduction in proceeds from the sale of accounts
      receivable was $10 million in the second quarter of 2009
      compared with a $13 million increase in proceeds in the
      second quarter of 2008.  Excluding the effect of accounts
      receivable financing facilities, net cash provided by
      operating activities for the second quarter of 2009 was
      $32 million as compared with $3 million of net cash used
      in operating activities in the second quarter of 2008.

    * As of June 30, 2009, the Company's accounts receivable
      balances before the sale of accounts receivable were
      $539 million as compared with $452 million as of March 31,
      2009 and $495 million as of December 31, 2008.  The increase
      was due to seasonal demand primarily in the Consumer
      Performance Products and Crop Protection Engineered
      Products segments.

    * As of June 30, 2009, the Company's inventory balance was
      $514 million as compared with $530 million as of March 31,
      2009 and $611 million at December 31, 2008.  The decrease
      was primarily due to optimizing production levels as
      industry demand declined.

    * Capital expenditures for the quarter ended June 30, 2009
      were $8 million compared with $36 million in 2008.  The
      Company currently anticipates capital spending of
      approximately $60 million in 2009.

    * With a continued focus on cash generation, the Company
      generated $14 million in cash provided by operating
      activities net of cash used in investing activities in the
      second quarter of 2009 compared to using $20 million in
      cash in the second quarter of 2008.

    * The Company's total debt of $1,402 million as of June 30,
      2009, increased slightly as compared with $1,400 million as
      of March 31, 2009.  Cash and cash equivalents were
      $144 million as of June 30, 2009, compared with $135 million
      as of March 31, 2009.

Chemtura Corporation, with 2008 sales of $3.5 billion, is a global
manufacturer and marketer of specialty chemicals, crop protection
and pool, spa and home care products.  Additional information
concerning Chemtura is available at http://www.chemtura.com/

A full-text copy of Chemtura Corporation's Second Quarter 2009
Financial Results filed on Form 10-Q is available for free at:

              http://ResearchArchives.com/t/s?4181


              Chemtura Corporation and Subsidiaries
              Unaudited Consolidated Balance Sheets
                      As of June 30, 2009

                             ASSETS

Current assets
  Cash and cash equivalents                       $144,000,000
  Accounts receivable                              539,000,000
  Inventories                                      514,000,000
  Other current assets                             198,000,000
                                                --------------
  Total current assets                           1,395,000,000

Non-current assets
  Property, plant & equipment                      774,000,000
  Goodwill                                         234,000,000
  Intangible assets, net                           491,000,000
  Other assets                                     209,000,000
                                                --------------
Total assets                                    $3,103,000,000
                                                ==============

               LIABILITIES & STOCKHOLDERS' EQUITY

Current liabilities
  Short-term borrowings                           $253,000,000
  Current portion of long-term debt                          0
  Accounts payable                                 127,000,000
  Accrued expenses                                 230,000,000
  Income taxes payable                              21,000,000
                                                --------------
  Total current liabilities                        631,000,000

Non-current liabilities
  Long-term debt                                     2,000,000
  Pension and post-retirement health care          171,000,000
  Other liabilities                                171,000,000
                                                --------------
  Total liabilities not subject to compromise      975,000,000

Liabilities subject to compromise                1,809,000,000

Stockholders' equity
  Common stock                                       3,000,000
  Additional paid-in capital                     3,038,000,000
  Accumulated deficit                           (2,401,000,000)
  Accumulated other comprehensive loss            (166,000,000)
  Treasury stock                                  (167,000,000)
                                                --------------
  Total Chemtura Corp. stockholders' equity        307,000,000

Non-controlling interest                            12,000,000
                                                --------------
Total stockholders' equity                         319,000,000
                                                --------------
Total liabilities and stockholders' equity      $3,103,000,000
                                                ==============


              Chemtura Corporation and Subsidiaries
          Unaudited Consolidated Statements of Operations
              For the quarter ended June 30, 2009

Net sales                                         $687,000,000

Cost of goods sold                                 535,000,000
Selling, general and administrative                 70,000,000
Depreciation and amortization                       43,000,000
Research and development                             9,000,000
Facility closures & severance                                0
Antitrust costs                                      8,000,000
Loss on sale of business                                     0
Impairment of long-lived assets                     97,000,000
Equity income                                                0
                                                --------------
Operating income(loss)                             (75,000,000)
Interest expense                                   (15,000,000)
Other (expense)income, net                         (21,000,000)
Reorganization items, net                           (6,000,000)
                                                --------------
Income(Loss) before income taxes                  (117,000,000)
Income tax expense                                           0
                                                --------------
Net income(loss)                                  (117,000,000)
Less: Net income attributable to
     non-controlling interest                       (1,000,000)
                                                --------------
Net loss attributable to Chemtura Corporation    ($118,000,000)
                                                ==============

             Chemtura Corporation and Subsidiaries
         Unaudited Consolidated Statements of Cash Flows
             For the six months ended June 30, 2009

CASH FLOWS FROM OPERATING ACTIVITIES
Net loss                                         ($212,000,000)
Adjustments to reconcile loss to cash
  Loss on sale of business                                   0
  Impairment of long-lived assets                   97,000,000
  Depreciation and amortization                     87,000,000
  Stock-based compensation expense                   2,000,000
  Reorganization items, net                         46,000,000
  Equity income                                              0
  Changes in assets and liabilities
     Accounts receivable                           (33,000,000)
     Impact of sale of accounts receivable        (103,000,000)
     Inventories                                   104,000,000
     Accounts payable                               19,000,000
     Pension and post-retirement health care        (5,000,000)
     Liabilities subject to compromise             (27,000,000)
     Other                                         (30,000,000)
                                                --------------
Cash (used in)provided by operating activities     (55,000,000)

CASH FLOWS FROM INVESTING ACTIVITIES
  Net proceeds from divestments                     $3,000,000
  Payments for acquisitions, net                    (5,000,000)
  Capital expenditures                             (16,000,000)
                                                --------------
Net cash used in investing activities              (18,000,000)

CASH FLOWS FROM FINANCING ACTIVITIES
  Proceeds from DIP credit facility, net           250,000,000
(Payments on) proceeds from credit facility       (65,000,000)
  Proceeds from long-term borrowings                         0
  Payments on long-term borrowings                  (9,000,000)
(Payments on) proceeds from short-term borrowings  (1,000,000)
  Dividends paid                                             0
  Payments for debt issuance costs                 (28,000,000)
  Proceeds from exercise of stock options                    0
  Other financing activities                                 0
                                                --------------
Net cash provided by financing activities         $147,000,000

CASH AND CASH EQUIVALENTS
  Effect of exchange rates                           $2,000,000
                                                 --------------
  Change in cash and cash equivalents                76,000,000
  Cash and cash equivalents, beginning of period     68,000,000
                                                 --------------
  Cash and cash equivalents, end of period         $144,000,000
                                                 ==============

                        About Chemtura Corp

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

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

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

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


CHEMTURA CORP: Invista Proposes Set-Off of Mutual Debts
-------------------------------------------------------
Invista S.A r.l. asks the Court to lift the automatic stay to
allow it to set off mutual debts with Chemtura Corporation.

Michael E. Norton, Esq., at Norton & Associates LLC, in New York,
contends that Invista did not incur debt obligations to Chemtura
for purpose of setting-off mutual debts.  Rather, the mutual debt
obligations arose in the parties' ordinary course of business and
were driven by the parties' respective needs for each other's
product.

Invista and the Debtor have a long standing business relationship
which has existed for over four years and during that time,
Invista has regularly sold to the Debtor Terathane, a key raw
material used in the Debtor's cast elastomer business, Mr. Norton
notes.

By July 2006, Invista began purchasing PETCAT from Chemtura.
Invista uses the product in the manufacture of polyester resins,
Mr. Norton relates.  The Debtor has regularly purchased and used
the Terathane products in the normal course of their operations.
Similarly, Invista has regularly purchased and used PETCAT
products in the normal course of its business, Mr. Norton
maintains.

Invista owes the Debtor $182,516 while the Debtor owes Invista
$255,201.

"Given the overall size of these bankruptcy proceedings, the debt
obligations are relatively miniscule and will not have any
material effect on the Debtor," Mr. Norton asserts.

                        About Chemtura Corp

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

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

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

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


CHEMTURA CORP: Proposes Oct. 30 as Claims Bar Date
--------------------------------------------------
Rule 3003(c)(3) of the Federal Rules of Bankruptcy Procedure
provides that the Court will fix the time within which proofs of
claim must be filed in a Chapter 11 case pursuant to Section 501
of the Bankruptcy Code.

Chemtura Corp. and its affiliates have previously filed their
schedules of assets and liabilities and statements of financial
affairs and have substantially completed a revised business plan,
which will form the basis for a plan of reorganization, Richard M.
Cieri, Esq., at Kirkland & Ellis LLP, in New York, relates.

As part of their effort to move expeditiously through the Chapter
11 process, the Debtors now ask the Court to establish Oct. 30,
2009, as the deadline for creditors to file proofs of claim
against their estates.

The Bar Date will allow for a minimum actual 60-day notice period
and 45 days' constructive notice during which creditors may file
proofs of claim against the Debtors, Mr. Cieri notes.

He maintains that the proposed claims bar date period, which is
substantially longer than (i) the 20-day period prescribed under
Rule 2002(a)(7) of the Federal Rules of Bankruptcy Procedure for
notice of the last day to file claims, and (ii) the 35-day and
25-day periods for the mailing and publishing of bar date notices
prescribed by the Court, is appropriate given the size and
complexity of the Debtors' Chapter 11 cases.

Mr. Cieri points out that thousands of parties-in-interest may
file claims because the Debtors have thousands of known creditors
with claims arising from the Debtors' operating businesses.  In
addition to creditors related to current operations, the Debtors
have substantial numbers of potential creditors with claims
related to businesses the Debtors no longer operate, as a result
of the Debtors' corporate history involving numerous mergers,
acquisitions and divestitures.

The Debtors designed uniform procedures for providing creditors
with notice of the bar date and a clear process for filing of
claims, Mr. Cieri says.  He contends that the Proposed Procedures
are calibrated to achieve the twin goals of providing
comprehensive notice and clear instructions to creditors, on the
one hand, and allowing the Chapter 11 cases to move forward
quickly with a minimum of administrative expense and delay, on
the other hand.

The Debtors propose that each entity asserting a claim that arose
before the Petition Date against any of the Debtors be required
to file an original, written proof of that claim, substantially
in the form of Official Form No. 10.

The Debtors further propose that all Proofs of Claim be required
to be received on or before the Bar Date by Kurtzman Carson
Consultants LLC, their claims and noticing agent.  If proofs of
claim are not received by KCC by the Bar Date, except in the case
of certain exceptions, the claim holders will be barred from
asserting the claims against the Debtors.

Only original Proofs of Claim will be deemed acceptable for
purposes of claims administration.  KCC will not accept Proofs of
Claim sent by facsimile or telecopy.  Proofs of Claim will be
deemed timely filed only if the original is actually received by
KCC on or before the Bar Date.  Proofs of Claim must be written
in English and must include supporting documentation.

The Debtors intend to mail written notice of the Bar Date, a
Proof of Claim form and an instruction sheet for preparing and
filing that form to these parties on or before August 31, 2009:

  a. The United States Trustee for the Southern District of New
     York;

  b. Counsel to the agent for the Debtors' prepetition and
     postpetition secured lenders;

  c. Counsel to the Official Committee of Unsecured Creditors;

  d. All persons or entities that have asked notice;

  e. All persons or entities that have filed Claims against the
     Debtors as of the date of entry of a Bar Date order;

  f. All creditors and other known holders of Claims against the
     Debtors as of the date of entry of a Bar Date order,
     including all persons or entities listed in the Schedules
     as holding Claims against one or more of the Debtors;

  g. All parties to the Debtors' executory contracts and
     unexpired leases as listed on the Schedules;

  h. All parties to litigation with the Debtors through their
     counsel of record;

  i. The Internal Revenue Service;

  j. The United States Attorney for the Southern District of New
     York on behalf of the Environmental Protection Agency, and
     other agencies and instrumentalities of the Unites States
     of America;

  k. State attorneys general for states in which plant and
     disposal sites are located; and

  l. The Debtors' current employees, and former employees, to
     the extent that contact information for former employees is
     available in the Debtors' records.

Moreover, in an effort to ensure that the Debtors' known
creditors who may have environmental or tort claims related to
plant and disposal sites receive sufficient notice of the Bar
Date, the Debtors propose to provide certain creditors with a
supplemental notice that focuses special attention on site-
related environmental and tort claims.  Specifically, if any
known creditor of the Debtors is located within a certain radius,
the Debtors propose to include a site-specific bar date notice
designed to provide further information regarding the Plant or
Disposal Site in that creditor's General Bar Date Package.

For creditors whose addresses are unknown, the Debtors propose to
publish the General Bar Date Notice in the New York Times and USA
Today on at least one occasion prior to September 15, 2009,
subject to applicable publication deadlines, but in no event
later than September 30, 2009.

               Parties Exempted from the Bar Date

The Debtors propose that these persons or entities holding claims
in these categories be excluded from having to file proofs of
claim or interest by the Bar Date:

  a. Any Claim for which the creditor has already filed a Proof
     of Claim in a format that is substantially similar to
     Official Bankruptcy Form No. 10;

  b. Any Claim that is listed on the Debtors' Schedules,
     provided that:

     -- the Claim is not scheduled as "disputed," "contingent"
        or "unliquidated";

     -- the Claimant does not disagree with the amount, nature
        and priority of the Claim as set forth in the Schedules;
        and

     -- the Claimant does not dispute that the Claim is an
        obligation of the specific Debtors as set in the
        Schedules;

  c. Any Claim that has been allowed and entered before Oct. 30,
     2009 at 12:00 p.m. Eastern Time;

  d. Any Claim that has been paid in full by any of the Debtors
     or any other party;

  e. Any Claim for which the Court has already set a different
     filing deadline by an order entered before October 30,
     2009, at 12:00 p.m. Eastern Time;

  f. Any Claim held by one Debtor against any of the other
     Debtors;

  g. Any Claim held by any direct or indirect non-Debtor
     subsidiary or affiliate of Chemtura Corporation against any
     of the Debtors;

  h. Any Claim held by a current employee of any of the Debtors,
     to the extent the Debtors were authorized by the Court to
     honor those claims in the ordinary course of their
     business like undisputed wages and benefits.  For the
     avoidance of doubt, current employees must file proofs of
     claim by the Bar Date for all other claims against the
     Debtors arising before March 18, 2009, including claims for
     wrongful termination, discrimination, claims covered by the
     Debtors' workers' compensation insurance and any other
     workplace injury or other litigation claims.  Employees
     must file a Proof of Claim by the Bar Date for all employee
     litigation Claims and disputed Claims;

  i. Any Claim held by a former employee of any of the Debtors
     for retirement benefits, including medical, surgical or
     hospital care benefits, or benefits in the event of
     sickness, accident, disability or death under any plan,
     fund or program maintained or established in whole or in
     part by the Debtors before March 18, 2009;

  j. Any Claim related to an Employee Qualified Pension Plan of
     any of the Debtors or their predecessors, including, but
     not limited to, the Chemtura Corporation Pension Plan;

  k. Any Claim that is limited exclusively to the repayment of
     principal, interest or other applicable fees and charges
     owed under any bond or note issued by the Debtors pursuant
     to an indenture, except, (i) an indenture trustee under a
     Debt Instrument must file one Proof of Claim by the Bar
     Date with respect to all of the amounts owed under each of
     the Debt Instruments and (ii) any holder of a Debt Claim
     wishing to assert any Claim besides a Debt Claim, including
     any litigation Claim, arising out of or relating to a Debt
     Instrument, must submit a Proof of Claim by the Bar Date;

  l. Any Claim that is based on an interest in an equity
     security of the Debtors; except, that any party wishing to
     assert a Claim against any of the Debtors for damages or
     rescission based on the purchase or sale of an equity
     security, or any other litigation Claim related to the
     Debtors' equity securities, must submit a Proof of Claim by
     the Bar Date; and

  m. Any Claim allowable under Sections 503(b) and 507(a)(1) of
     the Bankruptcy Code as expenses of administration,
     including claims for goods and services provided to, and
     accepted by, the Debtors after March 18, 2009, except any
     party wishing to assert a Claim allowable under Section
     503(b)(9) of the Bankruptcy Code for goods provided to and
     accepted by the Debtors within 20 days before March 18,
     2009, must file a Proof of Claim by the Bar Date.

                        About Chemtura Corp

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

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

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

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


CHEMTURA CORP: U.S. Trustee Adds 3 to Creditors Committee
---------------------------------------------------------
Diana G. Adams, the U.S. Trustee for Region 2, has added three
creditors to serve in the Official Committee of Unsecured
Creditors in the Chapter 11 cases of Chemtura Corporation and its
26 debtor affiliates.  They are Francisco Herrera, Irma Rosa
Ortiz, and Gerardo Solis.

Occidental Chemical Corporation has also been removed as a member
of the Creditors Committee.

The Committee is now composed of 11 members:

(1) U.S. Bank National Association
     Indenture Trustee
     60 Livingston Avenue
     St. Paul, MN 55107
     Attn: Cindy Woodward
     Vice President
     Tel No. (651) 495-3907
     Fax No. (651) 495-8100

(2) The Bank of New York Mellon Trust Company
     Indenture Trustee
     6525 West Campus Oval Road
     Suite 200
     New Albany, Ohio 43054
     Attn: Donna J. Parisi
     Vice President
     Tel No. (614) 775-5279
     Fax No. (614) 775-5636

(3) Pension Benefit Guaranty Corporation
     1200 K Street NW
     Washington, DC 20005-4026
     Attn: Suzanne Kelly
     Financial Analyst
     Tel No. (202) 326-4070 x6367
     Fax No. (202) 842-2643

(4) Manufacturers & Traders Trust Co.
     25 South Charles Street, 16th Floor
     Baltimore, MD 21201
     Attn: Vincent J. Marriott, III
     Counsel
     Tel No. (410) 244-4238
     Fax No. (410) 244-4236

(5) Riversource Investments, LLC
     216 Ameriprise Financial Center
     Minneapolis, MN 55474
     Attn: Mark Van Holland
     Vice President
     Tel No. (612) 678-1716
     Fax No. (612) 547-2694

(6) Federated Investment Management Company
     Federated Investors Tower
     1001 Liberty Avenue
     Pittsburgh, PA 15222-3779
     Attn: B. Anthony Delserone Jr.
     Vice President
     Tel No. (412) 288-8659
     Fax No. (412) 288-6737

(7) Entergy Arkansas, Inc.
     639 Loyola Avenue, 26th Floor
     New Orleans, LA 70113
     Attn: Alan H. Katz
     General Counsel
     Tel No. (504) 576-2240
     Fax No. (281) 297-5342

(8) WS Packaging, Inc.
     2571 S. Hemlock Road
     Green Bay, WI 54229
     Attn: Brenda Bomber
     Corporate Credit Manager
     Tel No. (920) 866-6363
     Fax No. (920) 866-6482

(9) Francisco Herrera
      22332 Hillshort Ct.
      Wildomar, CA 92595
      Tel No. (714) 833-0511

(10) Irma Rosa Ortiz
      5757 Main Street
      South Gate, CA 90280
      Tel No. (562) 531-1957

(11) Gerardo Solis
      1305 Burke Lane
      South Elgin, IL 60177-3068
      Tel No. (630) 518-7636

                        About Chemtura Corp

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

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

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

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


CHRISTOPHER VELLANTI: Case Summary & 20 Largest Unsec. Creditors
----------------------------------------------------------------
Debtor: Christopher G. Vellanti
        PO Box 273942
        Tampa, FL 33688

Bankruptcy Case No.: 09-17619

Chapter 11 Petition Date: August 11, 2009

Court: United States Bankruptcy Court
       Middle District of Florida (Tampa)

Debtor's Counsel: Sheila D. Norman, Esq.
                  Norman and Bullington, P.A.
                  1905 West Kennedy Blvd
                  Tampa, FL 33606
                  Tel: (813) 251-6666
                  Fax: (813) 254-0800
                  Email: sheila@normanandbullington.com

Total Assets: $1,140,400

Total Debts: $2,403,185

A full-text copy of Mr. Vellanti's petition, including a list of
his 20 largest unsecured creditors, is available for free at:

           http://bankrupt.com/misc/flmb09-17619.pdf

The petition was signed by Mr. Vellanti.


CHRYSLER LLC: Creditors Panel Wants to Pursue Claims vs. Daimler
----------------------------------------------------------------
In a redacted request, the Official Committee of Unsecured
Creditors of Old CarCo LLC, formerly known as Chrysler LLC, seeks
the Court's authority to pursue certain claims on behalf of the
Debtors' bankruptcy estate against Daimler AG, as well as against
two Daimler affiliates and four former directors of the Debtors.

The Creditors Committee also seeks the Court's permission to file
its request under seal because it has references and information
that were deemed confidential by the producing parties, pursuant
to certain confidentiality agreements among the Creditors
Committee, Daimler, JP Morgan Chase & Co., Houlihan Lokey, and
Ernst & Young LLP.

To recall, the Court approved on June 5, 2009, a global settlement
agreement, known as Settlement Agreement III, among the Debtors,
Daimler and a number of other parties.  Among other things, the
agreement provided for a broad release of the Debtors' claims
against Daimler, subject to a crucial carve-out.

Specifically, the agreement gave the Creditors Committee a two-
month time period to investigate the Debtors' potential claims
against Daimler and to determine which claims have merit and
should be pursued.  So long as the Creditors Committee complies
with specified procedures -- including filing a timely complaint
against Daimler after obtaining leave of Court to prosecute the
claims on the Debtors' behalf -- the agreement exempts the claims
brought by the Creditors Committee from the release given to
Daimler.

By agreement of the parties, the deadline for the Creditors
Committee to file suit against Daimler has been extended to
August 18, 2009.

Thomas Moers Mayer, Esq., at Kramer Levin Naftalis & Frankel LLP,
in New York, relates that the Creditors Committee's investigation
has confirmed that the Debtor's estate possesses claims against
Daimler and related parties that, in the Creditors Committee's
view, are meritorious and have enormous potential value to the
bankruptcy estates.

A proposed complaint has been filed as a sealed exhibit to the
Committee's request, Mr. Mayer says.

Mr. Mayer discloses that the firms Susman Godfrey LLP and
Stutzman, Bromberg, Esserman & Plifka have agreed to jointly
prosecute the Proposed Complaint on the Creditors Committee's
behalf on a modified contingent fee basis -- an arrangement that
will limit the cost of the suit to a small fraction of what it
might otherwise cost to pursue.

The firms will be paid an up-front flat fee of $2 million, and a
contingent fee equal to 20% of any recovery from the lawsuit up to
$200 million, plus 15% of any recovery in excess of $200 million.
The Creditors Committee will also be responsible for payment of up
to $7.5 million in expert fees and other costs.

The claims set forth in the Proposed Complaint arise out of a
series of transactions engineered by Daimler in 2007, which
stripped Chrysler of its most valuable assets for grossly
inadequate consideration, Mr. Mayer argues.  Daimler, the German
car manufacturer, had acquired Chrysler in 1998.  Mr. Mayer
asserts that the Creditors Committee seeks to hold Daimler
responsible for the billions of dollars of damages for the assets
stripped from Chrysler.

"The Proposed Complaint asserts claims against Daimler and two of
its affiliates for intentional and constructive fraudulent
transfer, as well as claims against Daimler and four former
Chrysler directors for breach of fiduciary duty," Mr. Mayer tells
the Court.  He notes that the Creditors Committee's determination
that the claims have merit and should be pursued has been
corroborated by the independent judgment of the Susman Godfrey and
Stutzman Bromberg firms.  He points out, among other things, that
the Proposed Complaint amply satisfies the requirements set forth
by the Second Circuit in In re STN Enterprises, 779 F.2d 901 (2d
Cir. 1985).

The Creditors Committee also sought and obtained the Court's nod
for an expedited hearing on the requests to pursue and to seal,
which hearing is currently set for August 13, 2009, at 9:30 a.m.
Eastern time.

                    Daimler Objects

Daimler AG and its affiliates Daimler North America Corporation
and Daimler Investments US Corporation ask Judge Gonzalez to deny
the request saying the Creditors Committee can assert no viable
claims against Daimler or its related individuals, who were
directors of CarCo, and the pursuit of them would be a waste of
the estate's and taxpayers' resources.

"The only parties that stand to benefit are the lawyers who will
receive $2 million upfront (and the professional experts they
engage who are to receive $7.5 million), regardless of whether
their complaint even makes it past the pleading stage," asserts
Alan S. Goudiss, Esq., at Shearman & Sterling LLP, in New York.
He points out that the request fails to reveal where the very
hypothetical proceeds of the litigation would go, other than to
the lawyers, and whether the unsecured creditors could ever
recover anything at all.

The Proposed Complaint fails as a matter of fact and law, but its
most obvious defect is its lack of even the superficial appeal of
a "good story," Mr. Goudiss contends.  Instead, he notes, the
Proposed Complaint is a jumble of disjointed allegations that lead
nowhere.  "All that the complaint manages to convey clearly is the
fact that it leaves out a lot of information that would make the
Committee's case even more frivolous than it already is," he adds.

"The least subtle clue of the Committee's strategy of litigation-
by-omission is that the proposed complaint refers to a
comprehensive transaction consisting of forty-eight steps but then
describes only a few of them -- and those out of context," Mr.
Goudiss argues.  He insists that the 48 steps were part of, and a
condition to the closing of, a transaction in which Chrysler
received $5 billion in fresh equity capital and virtually all its
pre-existing funded debt was eliminated.  He notes that the
transaction was so obviously beneficial for Chrysler that Ron
Gettelfinger, the UAW's president, approved the deal in his
capacity as a member of Daimler's Supervisory Board.  The UAW is a
member of the Creditors Committee.

Mr. Goudiss further argues that the fee arrangements for the
proposed litigation are inappropriate and wasteful.  Daimler,
thus, finds particularly objectionable the request that the Court
authorize an investment of $9.5 million "in pursuit of a meritless
claim, including a $2 million upfront payment to the lawyers."
There is no reason for this unearned largesse, he maintains.

                    U.S. Treasury Responds

During the pendency of the Debtors' Chapter 11 cases, the United
States of America, through the United States Department of the
Treasury, provided $4.9 billion of debtor-in-possession financing
to the Debtors pursuant to the Second Lien Secured Priming
Superpriority Debtor-in-Possession Credit Agreement, dated as of
April 30, 2009, among Chrysler LLC, as borrower, and the Treasury
and Export Development Canada, as lenders, Lev L. Dassin, Acting
United States Attorney for the Southern District of New York.

As security for the DIP Credit Facility, the Treasury was granted
liens on substantially all of Chrysler LLC's assets, including
cash collateral, Mr. Dassin says.  He adds that currently,
approximately $260 million remains outstanding under the DIP
Credit Facility, which amount has been placed in a separate
account to address wind-down expenses of the Debtors' bankruptcy
estates.

While the Treasury does not object to the Creditors Committee's
request, it also does not consent to the use of its cash
collateral by the Creditors Committee for any purpose associated
with pursuing the Creditors Committee's claims against Daimler or
any other parties, Mr. Dassin relates.  Further, he says, the
Treasury fully reserves its rights with respect to the use of its
cash collateral.

Accordingly, to the extent the Court enters an order approving the
Committee's request, the Treasury asks that the order contain a
provision clarifying that the Treasury has not consented to the
use of its cash collateral in connection with the Creditors
Committee's pursuit of any claims against Daimler or any other
cause of action by or on behalf of the Debtors or the Creditors
Committee.

"Treasury notes for the record that it has not waived or released
any liens it has with respect to the proceeds of any causes of
action (including avoidance actions) initiated by or on behalf of
the Debtors," Mr. Dassin tells Judge Gonzalez.

                        About Chrysler LLC

Headquartered in Auburn Hills, Michigan, Chrysler LLC --
http://www.chrysler.com/-- manufactures Chrysler, Jeep(R), Dodge
and Mopar(R) brand vehicles and products.  The Company has dealers
worldwide, including Canada, Mexico, U.S., Germany, France, U.K.,
Argentina, Brazil, Venezuela, China, Japan, and Australia.  In
2007, Cerberus Capital Management LP acquired an 80.1% stake in
Chrysler for $7.2 billion.  Daimler AG kept a 19.9% stake.

On April 30, Chrysler LLC and 24 affiliates sought Chapter 11
protection from creditors (Bankr. S.D.N.Y (Mega-case), Lead Case
No. 09-50002).  Chrysler hired Jones Day, as lead counsel; Togut
Segal & Segal LLP, as conflicts counsel; Capstone Advisory Group
LLC, and Greenhill & Co. LLC, for financial advisory services; and
Epiq Bankruptcy Solutions LLC, as its claims agent.  Chrysler has
changed its corporate name to Old CarCo following its sale to a
Fiat-owned company.  As of December 31, 2008, Chrysler had
$39,336,000,000 in assets and $55,233,000,000 in debts.  Chrysler
had $1.9 billion in cash at that time.

In connection with the bankruptcy filing, Chrysler reached an
agreement with Fiat SpA, the U.S. and Canadian governments and
other key constituents regarding a transaction under Section 363
of the Bankruptcy Code that would effect an alliance between
Chrysler and Italian automobile manufacturer Fiat. Under the terms
approved by the Bankruptcy Court, the company formerly known as
Chrysler LLC on June 10, 2009, formally sold substantially all of
its assets, without certain debts and liabilities, to a new
company that will operate as Chrysler Group LLC.  Fiat has a 20
percent equity interest in Chrysler Group.

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


CHRYSLER LLC: Court Sets September 28 Claims Bar Date
-----------------------------------------------------
Judge Arthur Gonzalez has established:

(a) September 28, 2009, as the general bar date by which all
     entities, other than governmental entities, must file
     proofs of claim in the bankruptcy cases of Old CarCo LLC,
     formerly known as Chrysler LLC;

(b) the later of:

     * the General Bar Date; and

     * the date that is 30 days after the entry of the
       order rejecting the Debtors' executory contracts or
       unexpired leases,

     as the date by which proofs of claim, including any
     administrative claims, relating to the Debtors' rejection
     of executory contracts or unexpired leases must be filed
     in the cases;

(c) the later of:

     * the General Bar Date; and

     * the date that is 30 days after the date that notice of
       the applicable amendment or supplement to the Schedules
       is served on the claimant,

     as date by which entities must file proofs of claim as a
     result of the Debtors' amendment of their schedules; and

(d) * October 27, 2009, as the deadline for filing claims by
       any governmental unit against any Debtors other than
       Alpha Holding; and

     * November 15, 2009, as the deadline for filing claims by
       any governmental unit against Alpha Holding.

The forms of the publication notice and the bar date notice
package, and the manner of providing notice of the bar dates
proposed by the Debtors are approved in all respects.

An objection and its subsequent supplement were filed on behalf of
certain multi-district litigation property damage class plaintiffs
opposing the proposed publication of the Bar Dates.
The Court, however, ruled that the Debtors are not required to
serve the Bar Date Notice Package on all of their potential
warranty claimants in light of (i) the scope and cost of service,
and (ii) New Chrysler's assumption of warranty liabilities in
connection with the Fiat Transaction.  Judge Gonzalez held that
the Publication Notice will be deemed sufficient notice to all the
warranty claimants.  The objection was, hence, deemed resolved.


                        About Chrysler LLC

Headquartered in Auburn Hills, Michigan, Chrysler LLC --
http://www.chrysler.com/-- manufactures Chrysler, Jeep(R), Dodge
and Mopar(R) brand vehicles and products.  The Company has dealers
worldwide, including Canada, Mexico, U.S., Germany, France, U.K.,
Argentina, Brazil, Venezuela, China, Japan, and Australia.  In
2007, Cerberus Capital Management LP acquired an 80.1% stake in
Chrysler for $7.2 billion.  Daimler AG kept a 19.9% stake.

On April 30, Chrysler LLC and 24 affiliates sought Chapter 11
protection from creditors (Bankr. S.D.N.Y (Mega-case), Lead Case
No. 09-50002).  Chrysler hired Jones Day, as lead counsel; Togut
Segal & Segal LLP, as conflicts counsel; Capstone Advisory Group
LLC, and Greenhill & Co. LLC, for financial advisory services; and
Epiq Bankruptcy Solutions LLC, as its claims agent.  Chrysler has
changed its corporate name to Old CarCo following its sale to a
Fiat-owned company.  As of December 31, 2008, Chrysler had
$39,336,000,000 in assets and $55,233,000,000 in debts.  Chrysler
had $1.9 billion in cash at that time.

In connection with the bankruptcy filing, Chrysler reached an
agreement with Fiat SpA, the U.S. and Canadian governments and
other key constituents regarding a transaction under Section 363
of the Bankruptcy Code that would effect an alliance between
Chrysler and Italian automobile manufacturer Fiat. Under the terms
approved by the Bankruptcy Court, the company formerly known as
Chrysler LLC on June 10, 2009, formally sold substantially all of
its assets, without certain debts and liabilities, to a new
company that will operate as Chrysler Group LLC.  Fiat has a 20
percent equity interest in Chrysler Group.

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


CHRYSLER LLC: Initial Public Offering Unlikely for 2010
-------------------------------------------------------
Ron Bloom, the White House's senior adviser to the Task Force on
the Auto Industry, said he believes Chrysler Group LLC would not
become a public company until at least 2011, according to an
August 5 report by China View.

Speaking at an auto industry conference in Michigan, Mr. Bloom
said he does not expect Chrysler Group to offer shares of stock
for sale until 2011 through an initial public offering.  He said
it is up to the automaker's board to decide on the timing, China
View reported.

Mr. Bloom, meanwhile, said that that he expects General Motors
Corp., another bankrupt automaker, to hold an initial public
offering next year and the government wants to sell its stake in
the automaker as soon as practicable, according to the report.

Public offerings in Chrysler Group and GM will allow the
government to sell its shares in the automakers to institutional
and individual investors.  The government currently owns 10% of
Chrysler and 60% of GM.

Mr. Bloom said it would be counter-productive to start selling off
the investment prematurely, according to an August 5 report by
BusinessWeek.

"GM has lowered its costs and break-even to the lowest levels in
decades," BusinessWeek quoted Mr. Bloom as saying.  As for
Chrysler Group, he said:  "Chrysler is undertaking a remarkable
transformation but it will take time for new vehicles to come
out."

Mr. Bloom added that he thought the $8 billion the government
pumped into Chrysler was enough to see it through.  "They are fast
and nimble and doing the right things," BusinessWeek quoted him as
saying.

                        About Chrysler LLC

Headquartered in Auburn Hills, Michigan, Chrysler LLC --
http://www.chrysler.com/-- manufactures Chrysler, Jeep(R), Dodge
and Mopar(R) brand vehicles and products.  The Company has dealers
worldwide, including Canada, Mexico, U.S., Germany, France, U.K.,
Argentina, Brazil, Venezuela, China, Japan, and Australia.  In
2007, Cerberus Capital Management LP acquired an 80.1% stake in
Chrysler for $7.2 billion.  Daimler AG kept a 19.9% stake.

On April 30, Chrysler LLC and 24 affiliates sought Chapter 11
protection from creditors (Bankr. S.D.N.Y (Mega-case), Lead Case
No. 09-50002).  Chrysler hired Jones Day, as lead counsel; Togut
Segal & Segal LLP, as conflicts counsel; Capstone Advisory Group
LLC, and Greenhill & Co. LLC, for financial advisory services; and
Epiq Bankruptcy Solutions LLC, as its claims agent.  Chrysler has
changed its corporate name to Old CarCo following its sale to a
Fiat-owned company.  As of December 31, 2008, Chrysler had
$39,336,000,000 in assets and $55,233,000,000 in debts.  Chrysler
had $1.9 billion in cash at that time.

In connection with the bankruptcy filing, Chrysler reached an
agreement with Fiat SpA, the U.S. and Canadian governments and
other key constituents regarding a transaction under Section 363
of the Bankruptcy Code that would effect an alliance between
Chrysler and Italian automobile manufacturer Fiat. Under the terms
approved by the Bankruptcy Court, the company formerly known as
Chrysler LLC on June 10, 2009, formally sold substantially all of
its assets, without certain debts and liabilities, to a new
company that will operate as Chrysler Group LLC.  Fiat has a 20
percent equity interest in Chrysler Group.

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


CHRYSLER LLC: New Chrysler Reports Sales Hike From June Level
-------------------------------------------------------------
Chrysler Group LLC reported a 30 percent sales increase compared
with June 2009.  Consumer traffic in Chrysler, Jeep(R) and Dodge
dealerships more than doubled the last week in July compared with
the same time period in 2008.  The increased consumer traffic was
driven by interest in the U.S. Government CARS program, more
commonly known as "Cash for Clunkers" and Chrysler Group's easy-
to-understand incentive program.

"The government's program is doing what it is designed to do --
spur consumers to trade in older gas guzzlers for new, fuel-
efficient vehicles," said Peter Fong, President and Chief
Executive Officer -- Chrysler Brand and Lead Executive for the
Sales Organization, Chrysler Group LLC.  "While we don't expect
the industry sales forecast to change dramatically, we are seeing
encouraging signs that consumer confidence is building, and more
consumers are considering purchasing a new vehicle."

Chrysler Group LLC reported total U.S. sales for July 2009 of
88,900 units, an increase of 30 percent versus June 2009.
Compared with the same time period in 2008, sales decreased 9
percent.  Retail sales for July 2009 were 76,693 units.  On July
27, the Company restarted production at nine of its 11
manufacturing facilities.  Overall industry figures for July 2009
are projected to come in at an estimated 11.2 million SAAR.

"The new-vehicle sales market got a shot in the arm the last week
of July," said Steven Beahm, Vice President-Sales Organization,
Chrysler Group LLC.  "As a result of customers visiting their
local Chrysler, Jeep or Dodge dealer, largely based on the news of
the CARS program, retail sales of Chrysler Group small cars were
up 52 percent compared with July 2008 and 106 percent versus June
2009."

The company finished the month with 136,734 units in inventory,
representing a 40-day supply.  Inventory is down 68 percent versus
June 2008 when it totaled 409,33w1 units.

"We've been working towards a pull system by reducing our
inventory, and levels are now at their lowest point in years,"
Mr. Beahm added.  "Consumer demand is increasing, our vehicles
have the best quality in the history of the company and our
manufacturing plants are running at full production to fulfill
customer orders."

                  July Brand Sales Highlights

    * Dodge Journey, Avenger and Caliber and Jeep Patriot and
      Compass registered their best July sales ever

    * Jeep Patriot sales increased 134 percent (8,059 units)
      compared with July 2008 and 192 percent versus the
      previous month

    * Jeep Compass sales were up 95 percent (2,727 units) versus
      July 2008 and 183 percent compared with the previous month

    * Dodge Caliber sales were up 63 percent (7,718 units)
      compared with July 2008 and 121 percent versus the
      previous month

    * Dodge Avenger sales increased 30 percent versus July 2008
      (5,022 units) and 143 percent compared with the previous
      month

    * Dodge Grand Caravan sales increased 37 percent versus July
      2008 and 44 percent compared with prior month

    * Chrysler PT Cruiser sales were up 24 percent (2,377 units)
      compared with July 2008 and 271 percent versus June 2009

    * Mopar(R) posted a U.S. sales increase of 9 percent in July
      compared with June 2009, which follows a month-over-month
      sales increase of 8 percent in June 2009

    * Through July 2009, Mopar has launched 200 new Authentic
      Accessories & Performance Parts

                          Incentives

Demand for Chrysler, Jeep and Dodge vehicles and consumer traffic
continues to increase, reaching a high point for the year in July.

"Customers love our summer events, and as the 2009 model year
comes to an end, the company resumes its Summer Clearance event,
offering consumers great vehicles with competitive prices and
attractive financing," said Mr. Beahm.

In conjunction with the U.S. Government's CARS program, "Summer
Clearance" resumes Aug. 4, 2009, at Chrysler, Jeep and Dodge
dealerships across the United States.  Chrysler Group LLC will
offer zero percent financing for up to 72 months through GMAC
Financial Services on select 2009 model vehicles, or up to $4,500
Consumer Cash to all consumers, regardless of if they have a
trade-in vehicle.  These incentives are valid through Aug. 31,
2009.

"Everyone shopping for a new car or truck still qualifies for an
incentive of up to $4,500?even if they don't have a vehicle that
qualifies under the U.S. Government's program," Mr. Beahm added.

July 24, 2009 marked the start of the U.S. Government's Car
Allowance Rebate Systems (CARS) program, which offers a government
credit of either $3,500 or $4,500 for trading in an inefficient
vehicle that is not more than 25 years old for the purchase of a
new vehicle.  The amount of the credit is determined based on the
fuel-economy improvement between the turn-in vehicle and the new
vehicle purchased.

Chrysler Group offers consumers 35 Chrysler, Jeep and Dodge
vehicles from which to choose at almost 2,400 Chrysler, Jeep and
Dodge dealerships located across the United States.

                   About Chrysler Group LLC

Chrysler Group LLC, formed in 2009 from a global strategic
alliance with Fiat Group, produces Chrysler, Jeep, Dodge, Mopar
and Global Electric Motors (GEM) brand vehicles and products. With
the resources, technology and worldwide distribution network
required to compete on a global scale, the alliance builds on
Chrysler's culture of innovation -? first established by Walter P.
Chrysler in 1925 -? and Fiat's complementary technology ? from a
company whose heritage dates back to 1899.

Headquartered in Auburn Hills, Mich., Chrysler Group LLC's product
lineup features some of the world's most recognizable vehicles,
including the Chrysler 300, Jeep Wrangler and Dodge Ram.  Fiat
will contribute world-class technology, platforms and powertrains
for small- and medium-sized cars, allowing Chrysler Group to offer
an expanded product line including environmentally friendly
vehicles.

                        About Chrysler LLC

Headquartered in Auburn Hills, Michigan, Chrysler LLC --
http://www.chrysler.com/-- manufactures Chrysler, Jeep(R), Dodge
and Mopar(R) brand vehicles and products.  The Company has dealers
worldwide, including Canada, Mexico, U.S., Germany, France, U.K.,
Argentina, Brazil, Venezuela, China, Japan, and Australia.  In
2007, Cerberus Capital Management LP acquired an 80.1% stake in
Chrysler for $7.2 billion.  Daimler AG kept a 19.9% stake.

On April 30, Chrysler LLC and 24 affiliates sought Chapter 11
protection from creditors (Bankr. S.D.N.Y (Mega-case), Lead Case
No. 09-50002).  Chrysler hired Jones Day, as lead counsel; Togut
Segal & Segal LLP, as conflicts counsel; Capstone Advisory Group
LLC, and Greenhill & Co. LLC, for financial advisory services; and
Epiq Bankruptcy Solutions LLC, as its claims agent.  Chrysler has
changed its corporate name to Old CarCo following its sale to a
Fiat-owned company.  As of December 31, 2008, Chrysler had
$39,336,000,000 in assets and $55,233,000,000 in debts.  Chrysler
had $1.9 billion in cash at that time.

In connection with the bankruptcy filing, Chrysler reached an
agreement with Fiat SpA, the U.S. and Canadian governments and
other key constituents regarding a transaction under Section 363
of the Bankruptcy Code that would effect an alliance between
Chrysler and Italian automobile manufacturer Fiat. Under the terms
approved by the Bankruptcy Court, the company formerly known as
Chrysler LLC on June 10, 2009, formally sold substantially all of
its assets, without certain debts and liabilities, to a new
company that will operate as Chrysler Group LLC.  Fiat has a 20
percent equity interest in Chrysler Group.

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


CHRYSLER LLC: Obama Asked to Compel Assumption of Product Claims
----------------------------------------------------------------
Lawyer and political activist Ralph Nader asked U.S. President
Barack Obama to require Chrysler LLC and General Motors Corp. to
accept liabilities for victims of alleged defective vehicles sold
by the automakers.

In an August 11 letter, Mr. Nader asked Pres. Obama to compel
Chrysler and GM to purchase insurance policies to cover claims of
victims against the automakers for defective products.

"The bankruptcy process for GM and Chrysler that your Wall Street
task force directed left those persons who allege injuries as a
result of defective vehicles sold by these companies, and with
pending or not-yet-filed claims, without redress," Mr. Nader wrote
in the letter.  "Their legal claims against the companies for
compensation for their injuries, or family members' claims for
lost loved ones, were extinguished by the dictatorial bankruptcy
process."

Mr. Nader expressed concern that more people, stripped of their
right to assert legal claim against the automakers, would be
victimized by their alleged defective cars.  "The obvious remedy
to prevent this problem is to require Chrysler to accept liability
for future injuries," he said.

Chrysler Group LLC, the new company formed following the sale of
Chrysler's assets to Italy-based Fiat S.p.A., did not assume
responsibility for product-liability lawsuits filed against the
automaker before its bankruptcy.

Mr. Nader suggested that if the Obama administration declines to
consider their request, the government should provide a
compensation fund for the victims and lend support to a petition
pending at the Federal Trade Commission.

The petition calls for the roughly 30 million Chrysler cars to be
accompanied at resale by prominent disclosure statements about the
automaker's immunity from civil liability for defective cars.

Mr. Nader reportedly sent an earlier letter dated July 14 but has
not yet received a reply from the White House.

                        About Chrysler LLC

Headquartered in Auburn Hills, Michigan, Chrysler LLC --
http://www.chrysler.com/-- manufactures Chrysler, Jeep(R), Dodge
and Mopar(R) brand vehicles and products.  The Company has dealers
worldwide, including Canada, Mexico, U.S., Germany, France, U.K.,
Argentina, Brazil, Venezuela, China, Japan, and Australia.  In
2007, Cerberus Capital Management LP acquired an 80.1% stake in
Chrysler for $7.2 billion.  Daimler AG kept a 19.9% stake.

On April 30, Chrysler LLC and 24 affiliates sought Chapter 11
protection from creditors (Bankr. S.D.N.Y (Mega-case), Lead Case
No. 09-50002).  Chrysler hired Jones Day, as lead counsel; Togut
Segal & Segal LLP, as conflicts counsel; Capstone Advisory Group
LLC, and Greenhill & Co. LLC, for financial advisory services; and
Epiq Bankruptcy Solutions LLC, as its claims agent.  Chrysler has
changed its corporate name to Old CarCo following its sale to a
Fiat-owned company.  As of December 31, 2008, Chrysler had
$39,336,000,000 in assets and $55,233,000,000 in debts.  Chrysler
had $1.9 billion in cash at that time.

In connection with the bankruptcy filing, Chrysler reached an
agreement with Fiat SpA, the U.S. and Canadian governments and
other key constituents regarding a transaction under Section 363
of the Bankruptcy Code that would effect an alliance between
Chrysler and Italian automobile manufacturer Fiat. Under the terms
approved by the Bankruptcy Court, the company formerly known as
Chrysler LLC on June 10, 2009, formally sold substantially all of
its assets, without certain debts and liabilities, to a new
company that will operate as Chrysler Group LLC.  Fiat has a 20
percent equity interest in Chrysler Group.

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


CHRYSLER LLC: Canada July 2009 Sales Increase 73%
-------------------------------------------------
Chrysler Canada announced sales of 15,958 units for the month of
July 2009, an increase of 73 percent compared with June 2009.
This gain was due in large part to an increase in available
product at the dealerships, as well as a renewal of consumer
confidence in the company's outlook.  During the same month in
2008, the company sold 17,818 vehicles.

On July 10, Chrysler announced that the third shift will continue
at the company's Windsor, Ontario Assembly Plant in response to
stronger than expected demand for the Chrysler Town & Country and
Dodge Grand Caravan minivans.  For the month of July, Chrysler
minivan sales rose to 3,311, a gain of 118 percent over June 2009.

"Given what we have been through, it was a spike-the-ball-in- the-
end-zone kind of month" said Reid Bigland, President and CEO -
Chrysler Canada.  "July marked our highest sales month of the year
and a 73 percent increase over June.  The cloud of uncertainty
about our future has now lifted, allowing our award-winning
products to shine.  Month-over-month sales of our Windsor-built
minivans increased 118 percent, and our Brampton-produced Chrysler
300, Dodge Charger, and Dodge Challenger vehicles recorded a 203
percent jump in sales."

                    Brand Sales Highlights

Dodge brand sales rose to 10,671 units, an increase of 60 percent
compared with June.  Dodge Grand Caravan sales of 3,014
represented an increase of more than 100 percent over last month,
and 2 percent over July 2008.  Dodge Charger rose 39 percent over
the same month last year with sales of 290 units.  The Dodge
Journey remains Canada's top-selling crossover, growing 41 percent
over July 2008 with sales of 1,553 units.

Chrysler brand sales increased 58 percent over July 2008, and more
than three hundred percent over last month's total, to 2,377
units.  Significant gains were posted by the Chrysler 300/300C
with sales of 573 units, for an increase of 260 percent over July
2008.

Jeep(R) brand sales increased 43 percent over June 2009, with
total sales of 2,910 units.  Jeep Compass sales rose 114 percent
compared with June to 886 units, while Jeep Patriot saw an
increase of 93 percent to 1,255 units.

                   August Incentive Program

Chrysler Canada continues its successful "We Build Champions"
program in August, celebrating Chrysler's product and value
leadership position in Canada.

"For more than 25 years, Chrysler has been home to Canada's No. 1-
selling minivan, the Dodge Grand Caravan," said Dave Buckingham,
Vice President of Sales -- Chrysler Canada.  "During this time, we
have launched an unprecedented number of industry firsts,
including the revolutionary Stow 'n Go(R) and Swivel 'n GoTM
seating and storage systems.  For the month of August, we are
proud to announce another "first" -- the award-winning Dodge Grand
Caravan with an incredible array of features, for an exceptional
price, and at an unbeatable finance rate."

For the first time in the product's history, Canadians can now
purchase a well-equipped Dodge Grand Caravan for under $20,000
and obtain purchase financing as low as zero percent.  This offer
includes the V6 engine; air conditioning; automatic transmission;
third row Stow 'n Go seating; anti-lock brake system (ABS);
Electronic Stability Program (ESP); side curtain air bags and much
more.  With up to $7,200 in total discounts -- an enhancement of
up to $1,700 over July -- plus zero percent financing, it's one of
Chrysler Canada's best offers ever.

The Dodge Ram 1500 -- AJAC's Best New Pickup of 2009 - is
available for only $28,488, representing $7,500 in total
discounts, plus zero percent purchase financing.  For this price,
Canadians can get into the country's most powerful light duty
pickup truck, equipped with the 5.7-litre 390-horsepower HEMI? V8
with fuel-saving Multi-displacement System (MDS); 5-speed
automatic transmission; air conditioning; 4-wheel disc brakes with
ABS; ESP; side curtain air bags; trailer sway control; segment-
exclusive coil-spring, five-link rear suspension; SIRIUS Satellite
Radio; and more.

A well-equipped Dodge Journey is now available for only $18,495
plus zero percent purchase financing.  This price includes the
fuel-efficient 2.4-litre 173-horsepower 16-valve 4-cylinder engine
with variable valve timing; automatic transmission; air
conditioning; ABS; ESP; side curtain air bags; in-floor storage;
power windows, locks and mirrors; and much more.

                        About Chrysler LLC

Headquartered in Auburn Hills, Michigan, Chrysler LLC --
http://www.chrysler.com/-- manufactures Chrysler, Jeep(R), Dodge
and Mopar(R) brand vehicles and products.  The Company has dealers
worldwide, including Canada, Mexico, U.S., Germany, France, U.K.,
Argentina, Brazil, Venezuela, China, Japan, and Australia.  In
2007, Cerberus Capital Management LP acquired an 80.1% stake in
Chrysler for $7.2 billion.  Daimler AG kept a 19.9% stake.

On April 30, Chrysler LLC and 24 affiliates sought Chapter 11
protection from creditors (Bankr. S.D.N.Y (Mega-case), Lead Case
No. 09-50002).  Chrysler hired Jones Day, as lead counsel; Togut
Segal & Segal LLP, as conflicts counsel; Capstone Advisory Group
LLC, and Greenhill & Co. LLC, for financial advisory services; and
Epiq Bankruptcy Solutions LLC, as its claims agent.  Chrysler has
changed its corporate name to Old CarCo following its sale to a
Fiat-owned company.  As of December 31, 2008, Chrysler had
$39,336,000,000 in assets and $55,233,000,000 in debts.  Chrysler
had $1.9 billion in cash at that time.

In connection with the bankruptcy filing, Chrysler reached an
agreement with Fiat SpA, the U.S. and Canadian governments and
other key constituents regarding a transaction under Section 363
of the Bankruptcy Code that would effect an alliance between
Chrysler and Italian automobile manufacturer Fiat. Under the terms
approved by the Bankruptcy Court, the company formerly known as
Chrysler LLC on June 10, 2009, formally sold substantially all of
its assets, without certain debts and liabilities, to a new
company that will operate as Chrysler Group LLC.  Fiat has a 20
percent equity interest in Chrysler Group.

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


COASTLINE MANUFACTURING: Case Summary & Creditors List
------------------------------------------------------
Debtor: Coastline Manufacturing LLC
        PO Box 1238
        Banning, CA 92220

Case No.: 09-28324

Debtor-affiliates filing separate Chapter 11 petition:

        Entity                                     Case No.
        ------                                     --------
Elite Window Corporation                           09-28325
Magna Window Corporation                           09-28326
Pacific Window Corporation                         09-28327
Pac Bay Window LLC                                 09-28328
Window Logic Corp                                  09-28330

Type of Business: The Debtor operates a Manufacturing-Plastic
Resin business.

Chapter 11 Petition Date: August 11, 2009

Court: United States Bankruptcy Court
       Central District of California (Riverside)

Judge: Sheri Bluebond

Debtor's Counsel: Riordan J. Zavala, Esq.
                  PO Box 1061
                  Placentia, CA 92871
                  Tel: (714) 996-5168

Estimated Assets: $10,000,001 to $50,000,000

Estimated Debts: $1,000,001 to $10,000,000

The petition was signed by David Garthwaite, the company's
president and CEO.

Coastline Manufacturing's List of 20 Largest Unsecured Creditors:

  Entity                       Nature of Claim        Claim Amount
  ------                       ---------------        ------------
Sierra Aluminum                Trade Debt             $2,835

Verizon Business               Services               $2,946

Allmetal, Inc.                 trade debt             $2,969

Toshiba Business Solutions LV  trade debt             $3,411

Caldwell Mfg. Co.              trade debt             $3,741

Verizon California             Services               $3,818

Sealant Specialists            trade debt             $4,051

Ultrafab, Inc.                 trade debt             $4,860

Fleet Fueling                  trade debt             $5,203

Gold River Sales               trade debt             $5,404

Superior Window Products       trade debt             $5,569

Vision Industries Group, Inc.  trade debt             $5,739

ADCO Products, Inc.            trade debt             $5,811

Brenntag Specialties, Inc.     trade debt             $10,901

H.B. Fuller Co.                trade debt             $38,664

Catalina Tempering             trade debt             $68,468

PPG Industries, Inc.           trade debt             $87,259

Cheng Cheng Plastics, Inc.     trade debt             $101,218

David Garthwaite Family Trust  facilities rent        $104,000

Textron Financial              finance company loan   $2,260,332
333 City Blvd. West,
17th Floor
Orange, CA 92868


COMMERCIAL VEHICLE: Moody's Changes Default Rating to 'Caa2/LD'
---------------------------------------------------------------
Moody's changed Commercial Vehicle Group, Inc.'s probability of
default rating to Caa2/LD following the company's exchange of
approximately $52.2 million of 8.0% notes.  Moody's considers this
transaction a distressed exchange due to the nature of the capital
restructuring as well as CVGI's weak credit profile.  The LD
designation signifies a limited default.  The PDR will be changed
to a Caa2 rating and the LD rating will be removed after three
days.

Moody's simultaneously affirmed the Caa2 corporate family rating.
The outlook remains negative.  The Caa2 CFR and PDR continue to
reflect Moody's view of the impact of the continuing weakness in
the commercial vehicle sector on CVGI's operating performance and
liquidity profile in combination with the company's comparatively
smaller scale.  Post the exchange, CVGI maintains very high
leverage with debt of approximately $157 million.  While Moody's
acknowledges that the company has made significant progress in
cutting costs, restructuring its operations, and enhancing its
near-term liquidity, CVGI continues to generate operating losses
and the ratings and negative outlook reflect Moody's ongoing
concerns about the company's ability to maintain operations in its
current capital structure.  Moreover, they reflect that if CVGI
sustains itself through the current period, the company is likely
to emerge with a stressed financial structure and a potentially
smaller business profile with which to service its obligations.

Moody's also affirmed the SGL-4 liquidity rating designating
Moody's expectation for a liquidity position that is likely to
continue to be challenged over the next twelve months.  The
company has effectively managed its working capital, reduced
near-term cash interest expense (though longer-term, cash
interest expense will be higher), and benefits from approximately
$8 million of cash along with approximately $20.8 million of
unused revolver availability following the recent financing
transactions.  However, Moody's continues to believe that CVGI is
likely to face difficulty generating meaningful cash from
operations and is likely to rely on its credit facility over the
next twelve months.

Moody's also downgraded the rating on CVGI's senior unsecured
notes to Ca from Caa3.  Based on the post-exchange capital
structure, Moody's expects to change the rating on the remaining
portion of the senior unsecured notes to Caa3 in approximately 3
days.

The ratings actions were:

* Corporate Family Rating affirmed at Caa2

* Probability of Default Rating changed to Caa2/LD from Caa3

* Senior unsecured note rating lowered to Ca (LGD 3; 40%) from
  Caa3 (LGD 4; 45%)

* Speculative Grade Liquidity Rating (SGL) affirmed at SGL-4

* Outlook remains negative

In three days, the ratings will be changed:

* Probability of Default Rating changed to Caa2 from Caa2/LD

* Senior unsecured note rating upgraded to Caa3 (LGD 4; 65%) from
  Ca (LGD 3; 40%)

The last rating action was on March 30, 2009, when the ratings of
Commercial Vehicle Group were lowered (including the corporate
family rating which was lowered to Caa2).

Commercial Vehicle Group, Inc., is a provider of customized
products for the commercial vehicle market.  The company had
revenues of approximately $675 million for the twelve month period
ended March 31, 2009.


CONGOLEUM CORP: Swings to $942,000 Net Loss for June 30 Quarter
---------------------------------------------------------------
Congoleum Corporation said sales for the second quarter ended
June 30, 2009, were $39.4 million, compared with sales of
$47.2 million reported in the second quarter of 2008, a decrease
of 16.6%.  The net loss for the quarter was $942,000, versus net
income of $212,000 in the second quarter of 2008.  The net loss
per share was $0.11 in the second quarter of 2009 compared with
net income of $0.03 per share in the second quarter of 2008.

Sales for the six months ended June 30, 2009, were $69.5 million,
compared with sales of $94.9 million in the first six months of
2008.  The net loss for the six months ended June 30, 2009 was
$5.0 million, or $.61 per share, versus net income of
$1.9 million, or $.23 per share, in the first six months of 2008.

As of June 30, 2009, the Company had $163.86 million in total
assets and $258.45 million in total liabilities, resulting in
$94.59 million in stockholders' deficit.

Roger S. Marcus, Chairman of the Board, commented, "Our markets
remained extremely weak in the second quarter, particularly
manufactured housing.  While sales were up $9.2 million over the
first quarter of 2009, this increase reflected seasonal factors
and the stabilization of inventories in the distribution channel.
Our distributors had reduced their inventories by over $4 million
in the first quarter.  While not yet improving, at least
conditions seem to have bottomed out.

"We have made considerable progress realigning our cost structure
with current demand.  Thanks to steps taken earlier this year, our
operating expenses and plant overhead spending in the second
quarter declined $2.5 million from the first quarter.
Unfortunately, our second quarter results were adversely affected
by a $7.0 million reduction in our own inventory levels, which we
were able to accomplish after our distributors stabilized their
purchasing.  That decrease gave us less production over which to
spread fixed factory overhead, negatively affecting profitability
in the quarter by nearly $2 million. If not for the inventory
reduction, we would have had a profitable quarter even on the
depressed sales level.  We think we've turned the corner with the
actions taken to date."

Mr. Marcus continued, "Our debtor-in-possession credit facility
has been extended through the end of 2009, and we ended the
quarter with $13.8 million in available cash and borrowing
capacity, which we believe gives us adequate liquidity for the
foreseeable future. I'm also pleased to report that we were just
recently awarded a patent covering, among other things, our
popular DuraCeramic product line.  The DuraCeramic product has
attracted numerous competitors as the market for this product type
continues to grow rapidly despite the weak economy.  We believe
that the advantages of this product line, particularly its
attractive look, cannot be achieved without infringing on our
recently issued patent."

"We feel the market for the majority of our product lines has at
least bottomed out, and our current reduced level of expenditures
can be maintained for the balance of the year.  Even modest
improvements in any of our end markets could provide healthy
incremental profits.  I am optimistic not only about the
opportunities presented by our recently issued patent but also
about a major new product line we will be introducing in the
fourth quarter of this year.

"This has been an exceedingly difficult period, but we've taken
the steps necessary to maintain our viability and to position
ourselves to benefit when the eventual recovery takes place.  This
could not have been achieved without the extraordinary effort of
Congoleum's employees during this very difficult time.  Despite
significant downsizing, we have maintained our spirit, our ability
to create new products, our quality, and our confidence in the
future of Congoleum."

                         About Congoleum

Based in Mercerville, New Jersey, Congoleum Corporation
(PINKSHEETS: CGMC) -- http://www.congoleum.com/-- manufactures
and sells resilient sheet and tile floor covering products with a
wide variety of product features, designs and colors.

The Company filed for Chapter 11 protection on December 31, 2003
(Bankr. D. N.J. Case No. 03-51524) as a means to resolve claims
asserted against it related to the use of asbestos in its products
decades ago.  Richard L. Epling, Esq., Robin L. Spear, Esq., and
Kerry A. Brennan, Esq., at Pillsbury Winthrop Shaw Pittman LLP,
and Paul S. Hollander, Esq., and James L. DeLuca, Esq., at Okin,
Hollander & DeLuca, LLP, represent the Debtors.

The Asbestos Claimants' Committee is represented by Peter Van N.
Lockwood, Esq., and Ronald Reinsel, Esq., at Caplin & Drysdale,
Chtd.  The Bondholders' Committee is represented by Michael S.
Stamer, Esq., and James R. Savin, Esq., at Akin Gump Strauss Hauer
& Feld LLP.  Nancy Isaacson, Esq., at Goldstein Isaacson, PC,
represents the Official Committee of Unsecured Creditors.

R. Scott Williams, Esq., at Haskell Slaughter Young & Rediker,
LLC, the Court-appointed Futures Claimants Representative, is
represented by Roger Frankel, Esq., Richard Wyron, Esq., and
Jonathan P. Guy, Esq., at Orrick Herrington & Sutcliffe LLP, and
Stephen B. Ravin, Esq., at Forman Holt Eliades & Ravin LLC.

American Biltrite, Inc. (AMEX: ABL), which owns 55% of Congoleum,
is represented by Matthew Ward, Esq., Mark S. Chehi, Esq.,
Christopher S. Chow, Esq., and Matthew P. Ward, Esq., at Skadden
Arps Slate Meagher & Flom.

Various entities have filed bankruptcy plans for the Debtors.  In
February 2008, the legal representative for future asbestos-
related claimants; the asbestos claimants' committee; the official
Committee of holders of the Company's 8-5/8 % Senior Notes due
August 1, 2008; and Congoleum jointly filed a joint plan of
reorganization.  Various objections to the Joint Plan were filed.
In June 2008, the Bankruptcy Court issued a ruling that the Joint
Plan was not legally confirmable.

In August 2008, the Bondholders' Committee, the ACC, the FCR,
representatives of holders of prepetition settlements and
Congoleum entered into a term sheet describing the proposed
material terms of a new plan of reorganization and a settlement of
avoidance litigation with respect to prepetition claim settlement.
Certain insurers and a large bondholder filed objections to the
Litigation Settlement or reserved their rights to object to
confirmation of the Amended Joint Plan.  The Bankruptcy Court
approved the Litigation Settlement in October 2008.  The Amended
Joint Plan was filed in November 2008.

In January 2009, certain insurers filed a motion for summary
judgment seeking denial of confirmation of the Amended Joint Plan.
On February 26, 2009, the Bankruptcy Court rendered an opinion
denying confirmation of the Amended Joint Plan.  Moreover, the
Bankruptcy Court dismissed Congoleum's bankruptcy case.

On February 27, 2009, Congoleum and the Bondholders' Committee
appealed the Order of Dismissal and the ruling denying plan
confirmation to the U.S. District Court for the District of New
Jersey.  On March 3, the Bankruptcy Court stayed the Order of
Dismissal pending entry of a final non-appealable decision
affirming the Order of Dismissal.  Appeal proceedings are underway
before the District Court.


CRUSADER ENERGY: Shareholders Ask for Own Committee
---------------------------------------------------
An ad hoc group of holders of stock issued by Crusader Energy
Group Inc. asks the Bankruptcy Court to form an official committee
of equity holders to represent their interests in Crusader's
Chapter 11 cases.  According to Carla Main at Bloomberg news, the
Shareholders Group asserts that the Debtors have "substantial
equity value based on their cash flow potential and intrinsic
values underlying their oil and gas assets.

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.


CRUSADER ENERGY: Vinson & Elkins Bills $2.3MM for April-June Work
-----------------------------------------------------------------
Vinson & Elkins LLP, bankruptcy attorneys for Crusader Energy
Gruop Inc., is seeking allowance and payment of fees aggregating
$2.3 million and reimbursement of expenses of $73,000 in
connection with work performed between March 30 and June 30.  The
firm said it spent 5,001 in connection with the bankruptcy case.
Work done include preparing the filing and first-day orders,
negotiations and other litigation and case administration issues.
According to Bloomberg, Vinson & Elkin already has been paid 80%
of the fees, under an earlier order of the court that permitted
procedures for monthly fee payments by the debtor.  The fee
application is scheduled for hearing on Aug. 31.

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.


DANA HOLDING: Breaks Even on $1.19-Bil. of Revenues in Q2
---------------------------------------------------------
Dana Holding Corporation said it net sales totaled all expenses
and charges in the second quarter of 2009, compared with a net
loss of $122 million during the same period last year.

Dana said earnings before interest, taxes, depreciation,
amortization, and restructuring was $94 million, compared with
$164 million in 2008.  Second-quarter sales were $1.19 billion, a
49% decrease compared with sales of $2.33 billion during the same
period last year.  The decrease was driven by lower vehicle
production across all market segments, most notably within the
off-highway sector.

At June 30, 2009, Dana had $5.06 billion in total assets and
$3.05 billion in total liabilities, and $879 million in
accumulated deficit.  At June 30, 2009, Dana said cash balances
remained solid at $553 million, with total available liquidity of
$664 million. Net debt was $546 million.

"Our second-quarter revenues reflected the continued weak demand
in all three of our market segments," said Dana Executive Chairman
John Devine.  "Despite this difficult environment, our aggressive
efforts to resize our organization, implement permanent structural
improvements, and address pricing continued to take hold.  These
actions resulted in substantial profit and cash flow improvements
compared to the prior quarter, despite slightly lower sales."

During the quarter, Dana reduced its global workforce by roughly
1,400 employees, bringing its total year-to-date reduction to
roughly 6,200.  The workforce reductions include both actions to
align the organization to reduced volume levels, as well as
permanent, structural reductions to improve productivity and
profitability.

The Company achieved a first-half pricing improvement of
$131 million, which includes the recovery of material cost
increases. Other actions -- primarily cost reductions -- improved
first-half EBITDA by $113 million.

Dana also said it generated positive free cash flow of $73 million
for the second quarter, which was impacted considerably by
improvements in working capital totalling $91 million.  The
majority of the cash generated was utilized to reduce debt levels.
During the quarter, the company reduced debt by $129 million, or
10%.  The debt reduction was achieved primarily through market
purchases made at a discount to par.

"The positive cash flow generated in the second quarter enabled us
to reduce debt levels and interest expense at an attractive price,
and strengthened our debt position moving forward," said Chief
Financial Officer Jim Yost.  "Even without the benefit of the debt
repurchase, we would have achieved our debt covenants."

Dana said sales for the six months ended June 30, 2009, were
$2.40 billion, which compares with $4.64 billion for the same
period in 2008.  For the first half of 2009, the company reported
a net loss of $157 million compared with income of $537 million
for the same period in 2008.  The six-month 2008 results include a
net gain of $754 million recognized in connection with the
company's emergence from bankruptcy and application of fresh start
accounting.  EBITDA for the first six months of 2009 was
$110 million, compared with EBITDA of $298 million during the same
period in 2008.

A full-text copy of Dana's report on Form 10-Q is available at no
charge at http://ResearchArchives.com/t/s?417a

A full-text copy of Dana's presentation slides which were
discussed during Dana's webcast and conference call on August 6,
is available at no charge at http://ResearchArchives.com/t/s?417b

                        About Dana Holding

Dana Holding Corporation (NYSE: DAN) -- http://www.dana.com/--
supplies axles; driveshafts; and structural, sealing, and thermal-
management products; as well as genuine service parts.  The
company's customer base includes virtually every major vehicle
manufacturer in the global automotive, commercial vehicle, and
off-highway markets.  Based in Toledo, Ohio, the company employs
roughly 22,500 people in 26 countries and reported 2008 sales of
$8.1 billion.

Dana Holding's predecessor, Dana Corporation and its affiliates
filed for Chapter 11 protection on March 3, 2006 (Bankr. S.D.N.Y.
Case No. 06-10354).  The Debtors filed their Joint Plan of
Reorganization on August 31, 2007.  Judge Burton Lifland
confirming the Plan, as thrice amended, on December 26, 2007.  The
Plan was declared effective January 31, 2008.  Upon emergence, the
Company was renamed as Dana Holding Corporation.

                           *     *     *

Moody's Investors Service revised Dana Holding Corporation's
Probability of Default Rating to Caa1\LD from Caa1.  Moody's
affirmed Dana's Corporate Family Rating at Caa2; affirmed the B3
rating on the senior secured asset based revolving credit
facility; affirmed the Caa1 rating on the senior secured term
loan; and affirmed the Speculative Grade Liquidity Rating at
SGL-3.  The Company's rating outlook remains negative.


DANA HOLDING: Wallace to Head Heavy Vehicle Production Unit
-----------------------------------------------------------
Dana Holding Corporation reports that Mark E. Wallace, President
of Global Operations, will assume the role of President, Heavy
Vehicle Production.

Nick L. Stanage, President-Heavy Vehicle Production, notified Dana
he would resign from his position effective July 31, 2009.  In
connection with his departure, Dana entered into a Separation
Agreement and General Release dated August 6, 2009, with Mr.
Stanage.

Under the Agreement, Mr. Stanage will work on such ongoing and
transition matters as Dana may assign to him prior to his last day
of employment on October 31, 2009.  Mr. Stanage will continue to
receive his current base compensation and other benefits until
October 31, 2009.

In addition, Mr. Stanage will receive a lump sum payment equal to
12 months of his base compensation ($425,000) with all deductions
required by law. Mr. Stanage will also receive 18 months of
subsidized COBRA beginning on November 1, 2009.  Dana will provide
outplacement services to Mr. Stanage at a cost of up to $25,000 or
that amount in cash in lieu of outplacement assistance.  Mr.
Stanage will also receive a payment of $75,000 in full
satisfaction of any claims he may have with respect to other
benefits or payments.

Upon termination of his employment, Mr. Stanage will have
qualified to receive the benefit provided by his Supplemental
Executive Retirement Plan dated January 5, 2006.  Mr. Stanage will
provide a general release to Dana for any claims he might have
against Dana.  Mr. Stanage also will be subject to certain non-
compete, non-solicitation, non-disparagement, confidentiality and
non-disclosure obligations.  Mr. Stanage also agrees to provide
reasonable cooperation with respect to the transition of his
position and matters arising from his service at Dana.

Meanwhile, Stephen J. Girsky tendered his resignation from the
Board of Directors of Dana, effective July 21, 2009, as a result
of his appointment as a member of the Board of Directors of
General Motors Co.  On the same date, the holders of Dana's 4.0%
Series A Preferred Convertible Stock notified Dana that they
appointed David Trucano as a member of the Board of Dana pursuant
to Dana's Restated Certificate of Incorporation and the
Shareholders Agreement dated January 31, 2008, which give the
holders of Dana's Series A Preferred the right to appoint Mr.
Girsky's successor as a Series A Preferred elected director.  Mr.
Trucano will serve on both the Audit Committee and Compensation
Committee of the Board.

                        About Dana Holding

Dana Holding Corporation (NYSE: DAN) -- http://www.dana.com/--
supplies axles; driveshafts; and structural, sealing, and thermal-
management products; as well as genuine service parts.  The
company's customer base includes virtually every major vehicle
manufacturer in the global automotive, commercial vehicle, and
off-highway markets.  Based in Toledo, Ohio, the company employs
roughly 22,500 people in 26 countries and reported 2008 sales of
$8.1 billion.

Dana Holding's predecessor, Dana Corporation and its affiliates
filed for Chapter 11 protection on March 3, 2006 (Bankr. S.D.N.Y.
Case No. 06-10354).  The Debtors filed their Joint Plan of
Reorganization on August 31, 2007.  Judge Burton Lifland
confirming the Plan, as thrice amended, on December 26, 2007.  The
Plan was declared effective January 31, 2008.  Upon emergence, the
Company was renamed as Dana Holding Corporation.

                           *     *     *

Moody's Investors Service revised Dana Holding Corporation's
Probability of Default Rating to Caa1\LD from Caa1.  Moody's
affirmed Dana's Corporate Family Rating at Caa2; affirmed the B3
rating on the senior secured asset based revolving credit
facility; affirmed the Caa1 rating on the senior secured term
loan; and affirmed the Speculative Grade Liquidity Rating at
SGL-3.  The Company's rating outlook remains negative.


DARREL DAVIDSON: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Darrel S. Davidson
        4015 Jumpers Hill Lane
        Ellicott City, MD 21042

Bankruptcy Case No.: 09-24830

Chapter 11 Petition Date: August 11, 2009

Court: United States Bankruptcy Court
       District of Maryland (Baltimore)

Judge: James F. Schneider

Debtor's Counsel: Timothy J. Sessing, Esq.
                  Wampler, Souder & Sessing
                  11300 Rockville Pike, Suite 610
                  Rockville, MD 20852
                  Tel: (301) 881-8895
                  Fax: (301) 881-8896
                  Email: tim@wssfirm.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

A full-text copy of Mr. Davidson's petition, including a list of
his 20 largest unsecured creditors, is available for free at:

            http://bankrupt.com/misc/mdb09-24830.pdf

The petition was signed by Mr. Davidson.


DELTA MUTUAL: June 30 Balance Sheet Upside-Down by $885,000
------------------------------------------------------------
Delta Mutual, Inc.'s balance sheet at June 30, 2009, showed total
asset of $2,054,683 and total liabilities of $2,940,242, resulting
in a stockholders' deficit of $885,559.

For six months ended June 30, 2009, the Company posted a net loss
of $755,685 compared with a net loss of $1,096,614 for the same
period in 2008.

For three months ended June 30, 2009, the Company posted a net
loss of $455,574 compared with a net loss of $527,145 for the same
period in 2008.

At June 30, 2009, the Company had a working capital deficit of
$2.9 million, compared with a working capital deficit of
$2.4 million at December 31, 2008.  The increase as of June 30,
2009, was due to increases in accounts payable of $92,000; accrued
expenses of $106,999; and notes payable of $301,000.

A full-text copy of the Company's Form 10-Q is available for free
at http://ResearchArchives.com/t/s?4174

                       Going Concern Doubt

On April 13, 2009, Wiener, Goodman & Company, P.C., in Eatontown,
New Jersey, raised substantial doubt about Delta Mutual, Inc.'s
ability to continue as a going concern after auditing the
Company's financial statements for the fiscal year ended
December 31, 2008.  The auditor noted that the Company has a
working capital deficiency, incurred losses from operations, needs
to obtain additional financing to meet its obligations on a timely
basis and to fulfill its proposed activities and ultimately
achieve a level of sales adequate to support its cost structure.

                       About Delta Mutual

Delta Mutual, Inc., invests in oil and gas properties in South
America.  It intends to focus its investments in the energy
sector, including development of energy producing investments and
alternative energy production in Latin America and North America.


DELTA MUTUAL: Posts $455,513 Net Loss for June 30 Quarter
---------------------------------------------------------
Delta Mutual Inc. filed with the Securities and Exchange
Commission on Monday an amendment to its report on Form 10 for the
quarter ended June 30, 2009.  The original Form 10-Q was filed
August 6, 2009.

Delta Mutual incurred a net loss of $455,513 for the three months
ended June 30, 2009, compared to a net loss of $507,683 for the
same period a year ago.  For the three months ended June 30, 2009,
Delta Mutual incurred a net loss of $762,137 compared to a net
loss of $3,130,832 for the same period a year ago.

As of June 30, 2009, the Company had $2,054,683 in total assets,
including $3,826 in cash; and $2,940,242 in total liabilities, all
current; resulting in $885,559 in stockholders' deficiency
attributable to Delta Mutual and subsidiaries.

Management recognizes that the Company's continued existence is
dependent upon its ability to obtain needed working capital
through additional equity or debt financing and revenue to cover
expenses as the Company continues to incur losses.

The Company's business is subject to the risks of its oil and gas
investments in South America.  The likelihood of success of the
Company must be considered in light of the expenses, difficulties,
delays and unanticipated challenges encountered in connection with
the operations of the oil and gas concession in Argentina.  There
is no assurance the Company will ultimately achieve a profitable
level of operations.

The Company presently does not have sufficient liquid assets to
finance its anticipated funding needs and obligations.  The
Company's continued existence is dependent upon its ability to
obtain needed working capital through additional equity or debt
financing and achieve a level of oil and gas revenue adequate to
support its cost structure.  Management is actively seeking
additional capital to ensure the continuation of its current
activities and complete its proposed activities.  However, there
is no assurance that additional capital will be obtained or that
the Company's investments will be profitable.  These uncertainties
raise substantial doubt about the ability of the Company to
continue as a going concern.

A full-text copy of the Amended Form 10-Q is available at no
charge at http://ResearchArchives.com/t/s?4175

A full-text copy of the Original Form 10-Q is available at no
charge at http://ResearchArchives.com/t/s?4174

                        Going Concern Doubt

On April 13, 2009, Wiener, Goodman & Company, P.C., in Eatontown,
New Jersey, raised substantial doubt about Delta Mutual, Inc.'s
ability to continue as a going concern after auditing the
Company's financial statements for the fiscal year ended
December 31, 2008.  The auditor noted that the Company has a
working capital deficiency, incurred losses from operations, needs
to obtain additional financing to meet its obligations on a timely
basis and to fulfill its proposed activities and ultimately
achieve a level of sales adequate to support its cost structure.

                       About Delta Mutual

Delta Mutual, Inc., invests in oil and gas properties in South
America.  It intends to focus its investments in the energy
sector, including development of energy producing investments and
alternative energy production in Latin America and North America.


DONALD BRANDT: Taps Sheila Norman and Amy Boohaker as Attorneys
--------------------------------------------------------------
Donald H. Brandt asks the U.S. Bankruptcy Court for the Middle
District of Florida for authority to employ Sheila D. Norman,
Esq., at Norman and Bullington, P.A., and Amy C. Boohaker, Esq.,
at Amy C. Boohaker P.A. as counsel.

Ms. Norman and Ms. Boohaker will, among other things:

   -- provide the Debtor legal advice with respect to its powers
      and duties as debtor-in-possession in the continued
      operation of its business and management of its property if
      appropriate;

   -- prepare, on behalf of the Debtor, necessary applications,
      answers, orders, reports, complaints, and other legal papers
      and appear at hearings thereon; and

   -- perform all other legal services for the Debtor which may be
      necessary herein.

The firms agreed that the majority of the client contact and
preparation of petitions, schedules, statements, pleadings and
meeting documentation requirements of the U.S. Trustee will be
performed by Ms. Boohaker's firm.  The majority of the court
appearances and litigation will be performed by Ms. Norman's firm.

The Debtor proposes to employ Ms. Norman and Ms. Boohaker under a
general retainer of $12,000 to be billed against the $250 hourly
rate for each of Ms. Norman and Ms. Boohaker.

To the best of the Debtor's knowledge, Ms. Boohaker and Ms. Norman
are "disinterested persons" as that term is defined in Section
101(14) of the Bankruptcy Code.

Ms. Boohaker and Ms. Norman can be reached at:

     Law Office of Amy C. Boohaker, PA
     1800 Second Street, Suite 715
     Sarasota, FL 34236
     Tel: (941) 366-9690
     Fax: (941) 366-9605

     Norman and Bullington, P.A.
     1905 West Kennedy Blvd.
     Tampa, FL 33606
     Tel: (813) 251-6666

                      U.S. Trustee's Objection

Donald F. Walton, the U.S. Trustee for Region 21, opposes to the
employment of Law Offices of Amy C. Boohaker P.A. as counsel to
represent Donald H. Brandt, citing that the firm is unnecessary in
this case and may be burdensome to the estate.

                       About Donald H. Brandt

Bradenton, Florida-based Donald H. Brandt filed for Chapter 11 on
July 27, 2009 (Bankr. M. D. Fla. Case No. 09-16166).  In its
petition, the Debtor listed $10,000,001 to $50,000,000 in assets
and $1,000,001 to $10,000,000 in debts.


DUANE READE: Amends Supplemental Indenture With US Bank
-------------------------------------------------------
Duane Reade Holdings Inc.; Duane Reade Inc., Duane Reade -- as
Issuers; and DRI I Inc., Duane Reade International, LLC, and Duane
Reade Realty, Inc. -- as Guarantors -- have entered into a
Supplemental Indenture, dated as of July 31, 2009, with U.S. Bank
National Association, as trustee.  The FRN Supplemental Indenture
amends the Indenture, dated as of December 20, 2004, among the
Issuers, the Guarantors and the Trustee relating to the Issuers'
outstanding senior secured floating rate notes due 2010.

Holdings, the Issuers and the Guarantors have entered into a
Supplemental Indenture, dated as of July 31, 2009, among the
Issuers, the Guarantors and the Trustee.  The Subordinated Notes
Supplemental Indenture amends the Indenture, dated as of July 30,
2004, as supplemented on July 30, 2004, among the Issuers, the
Guarantors and the Trustee relating to the Issuers' outstanding
9.75% senior subordinated notes due 2011.

The Supplemental Indentures were entered into in connection with
the Issuers' cash tender offers and solicitations of consents with
respect to the Notes, which were commenced on July 8, 2009 and
amended on July 24, 2009.

The Supplemental Indentures amend the Indentures to remove
substantially all of the restrictive covenants and certain events
of default in the Indentures and consent to all other transactions
contemplated by the Offers, the offering of new senior secured
notes and the preferred equity investment by entities associated
with Oak Hill Capital Partners, L.P.  The FRN Supplemental
Indenture also releases all of the collateral securing the
Floating Rate Notes and approves all necessary actions to
effectuate such release.

The Supplemental Indentures were effective as of the date of their
execution but they will not become operative until the Notes
tendered in the relevant Offer are accepted for payment and paid
for in accordance with the terms of such Offer.

A full-text copy of the Supplemental Indenture, dated July 31,
2009, relating to the Issuers' Floating Rate Notes due 2010, is
available at no charge at http://ResearchArchives.com/t/s?417c

A full-text copy of the Supplemental Indenture, dated July 31,
2009, relating to the Issuers' Subordinated Notes due 2011, is
available at no charge at http://ResearchArchives.com/t/s?417d

In connection with the Issuers' offering of $300 million aggregate
principal amount of their 11.75% Senior Secured Notes due 2015,
the Issuers and the Guarantors have entered into (i) a Purchase
Agreement, dated as of July 31, 2009, among the Issuers, the
Guarantors and certain representatives of the initial purchasers
named therein relating to the Issuers' issuance and sale of
$290 million of the New Notes; and (ii) a Purchase Agreement,
dated as of July 31, 2009, among the Initial Purchasers, the
Issuers and the Guarantors relating to the Issuers' subsequent
issuance and sale of $10 million of the New Notes.  The Initial
Purchasers intend to resell the New Notes in an offering exempt
from registration under the Securities Act of 1933.

On July 31, 2009, the Company announced the pricing of the New
Notes.  The sale of the New Notes was to close on August 7, 2009.
The Purchase Agreements contain representations and warranties,
covenants and conditions precedent that are customary for
transactions of this type.  In the Purchase Agreements, the
Issuers and the Guarantors have agreed to indemnify the Initial
Purchasers against liabilities arising from the transactions under
the Purchase Agreement, including liabilities arising under the
federal securities laws.

The offer and sale of the New Notes will not be registered under
the Securities Act of 1933 and may not be offered or sold in the
United States absent such registration or an exemption from the
registration requirements of such Act.

                         About Duane Reade

Founded in 1960, Duane Reade is the largest drug store chain in
New York City, offering a wide variety of prescription and over-
the-counter drugs, health and beauty care items, cosmetics,
convenience foods, greeting cards and photofinishing.  As of
June 27, 2009, the Company operated 253 stores.

At June 27, 2009, the Company had $701.6 million in total assets
and $876.9 million in total liabilities, resulting in
$175.3 million in stockholders' deficit.

                           *     *     *

Standard & Poor's Ratings Services lowered its corporate credit
rating on New York-based Duane Reade to 'SD' (selective default)
from 'CC'.  S&P also lowered its issue-level rating on the
company's $195 million 9.75% subordinated notes due 2011 to 'D'
from 'C'.


DUANE READE: Moody's Raises Default Rating to 'Caa1/LD'
-------------------------------------------------------
Moody's Investors Service raised Duane Reade, Inc.'s Probability
of Default Rating to Caa1/LD (Limited Default) from Ca reflecting
the closing of Duane Reade's tender offer.  Duane Reade's Caa1
Corporate Family Rating, Caa1 senior secured rating, and Caa3
senior subordinated rating were affirmed.  At the same time,
Moody's withdrew the Caa1 (LGD 3, 32%) rating on the company's
$210 million senior secured notes due December 15, 2010.  The
rating outlook is stable.

Moody's views the tender offer as a distressed exchange for the
particular securities involved, and reflects that with an LD
designation.  In approximately three business days Moody's will
remove the LD designation from the PDR.

The Caa1 CFR reflects Duane Reade's high leverage and weak
coverage along with its geographic concentration in and
disproportionate exposure to economic conditions in the intensely
competitive New York metro market.  The rating also incorporates
Moody's expectation that free cash flow will be weak over the next
twelve months due to relatively modest cash flow that is largely
consumed by capital expenditures.

The stable outlook reflects Moody's view that Duane Reade's asset
based revolving credit facility and expected cash flow should
provide sufficient liquidity over the near to intermediate term to
meet all of the company's internal requirements.

Ratings affirmed and LGD point estimates adjusted:

* Corporate Family Rating at Caa1

* $300 million guaranteed senior secured notes due 2015 at Caa1
  (LGD 4, 57% from LGD 4, 56%)

* $52 million 9.75% senior subordinated notes due 2011 at Caa3
  (LGD 5, 88% from LGD 5, 71%)

Ratings upgraded;

* Probability of Default Rating to Caa1/LD from Ca

Ratings withdrawn:

* $210 million floating rate senior secured notes due 2010 at Caa1
  (LGD 3, 32%)

The last rating action for Duane Reade occurred on August 5, 2009,
when Moody's affirmed the company's CFR and $300 million senior
secured notes at Caa1.

Duane Reade, Inc., operates 253 drug stores principally in
Manhattan and the outer boroughs.  Annual revenues are
approximately $1.8 billion.


DUANE READE: S&P Raises Corporate Credit Rating to 'B-'
-------------------------------------------------------
Standard & Poor's Ratings Services said it raised its corporate
credit rating on New York City-based Duane Reade Inc. to 'B-' from
'SD' (selective default).  S&P also raised the issue rating on the
company's 9.75% subordinated notes due 2011 (that were not
tendered) to 'CCC' from 'D'.

S&P assigned a 'B-' corporate credit rating to Duane Reade
Holdings Inc., the parent and guarantor of debt issued by Duane
Reade Inc. and Duane Reade.

The outlook is stable, based on the company's improved financial
flexibility, adequate liquidity, and relatively stable operating
performance.

"The rating reflects the company's very highly leveraged capital
structure and thin cash flow protection measures, as well as its
narrow geographic focus and intense competition in the drug
retailing industry," said Standard & Poor's credit analyst Ana
Lai.

Duane Reade recently completed the tender offer for its
subordinated notes at a discount and senior secured notes at par.
The tender was funded by proceeds from a $300 million new secured
notes and a portion of a $125 million preferred equity investment
by entities associated with Oak Hill Capital Partners L.P.

"Duane Reade's post-tender capital structure provides increased
financial flexibility," added Ms.  Lai, "as it extends debt
maturities and improves the company's liquidity position."
However, debt leverage remains very high since S&P treat the
preferred equity investment as debt.


EAST COAST SANITATION: Files Chapter 11 Petition in Newark
----------------------------------------------------------
East Coast Sanitation Co. filed a Chapter 11 petition in Newark,
New Jersey.  It listed assets of $1 million to $10 million against
debts of debts of $10 million to $50 million.

The largest unsecured creditor is the Attorney General of New
Jersey, owed $25 million.  A full-text copy of the Debtor's
petition, including a list of its 20 largest unsecured creditors,
is available for free at http://bankrupt.com/misc/njb09-30888.pdf

East Coast Sanitation Co., a waste-disposal company based
in Elizabeth, New Jersey.  The Company filed for Chapter 11 on
August 10, 2009 (Bankr. D. N.J. Case No. 09-30888).  Daniel J.
Yablonsky, Esq., at Yablonsky & Associates, LLC, represents the
Debtor.


EDT FUNDING: Moody's Upgrades Rating on Secured Bonds From 'B3'
---------------------------------------------------------------
Moody's Investors Service announced that it has upgraded its
rating assigned to these bonds issued by EDT Funding Ltd.:

* $142,739,000 8.0979% Secured Guaranteed Bonds Due April 15,
  2030, Series 1995-1, Class A-4, upgraded to A2; previously on
  02/18/2009 B3;

The current rating is linked to several factors, including, but
not limited to, the ratings of various series of perpetual and
long-dated floating rate notes owned by the Company, 8.40% Secured
Guaranteed Bonds Due 2030 issued by Augusta Funding Limited II and
the rating of JPMorgan Chase Bank, N.A., as Swap Counterparty and
may change upon changes in Moody's ratings of these factors.  The
Bonds also benefit from a financial insurance agreement entered
into between the Company and MBIA Insurance Corporation, as a
successor to Capital Markets Assurance Corporation.

The action reflects the credit quality of the FRNs, Augusta
Funding Bonds as well as the Swap Counterparty and are not based
on the rating of MBIA whose insurance financial strength rating
was downgraded by Moody's to B3 on 02/18/09.  The rating action is
consistent with Moody's modified approach to rating structured
finance securities wrapped by financial guarantors as described in
a press release dated November 10, 2008, titled "Moody's modifies
approach to rating structured finance securities wrapped by
financial guarantors."


EDWARD PARK III: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Edward C. Park, III
        250 Pine Bay Drive
        Union Hall, VA 24176

Case No.: 09-72046

Chapter 11 Petition Date: August 11, 2009

Court: United States Bankruptcy Court
       Western District of Virginia (Roanoke)

Judge: Chief Judge Ross W. Krumm

Debtor's Counsel: A. Carter Magee Jr., Esq.
            Magee Foster Goldstein & Sayers
            PO Box 404
            Roanoke, VA 24003
            Tel: (540) 343-9800
            Email: cmagee@mfgs.com

                  Andrew S. Goldstein, Esq.
            Magee Foster Goldstein & Sayers
            PO Box 404
            Roanoke, VA 24003
            Tel: (540) 343-9800
            Email: agoldstein@mfgs.com

Estimated Assets: $10,000,001 to $50,000,000

Estimated Debts: $50,000,001 to $100,000,000

The petition was signed by Edward C. Park, III.

Debtor's List of 20 Largest Unsecured Creditors:

  Entity                       Nature of Claim        Claim Amount
  ------                       ---------------        ------------
Amos Family                    Personal Guaranty      $13,000,000
c/o David A. Furrow, Esq.      of (Camijoe LLC)
115 East Court Street          Commercial Loan
Rocky Mount, VA 24151          Amos Property,
                               The LakeWatch Club

Stellar One Bank               Personal Guaranty      $6,066,429
PO Box 600                     of (LakeWatch LLC)
Christiansburg, VA 24068       Commercial Loan
                               LakeWatch/Waterside

Stellar One Bank               Lots 1-3, 35-40 and    $5,575,911
PO Box 600                     46-49, Lands End       ($0 secured)
Christianburg, VA 24068

Stellar One Bank               Personal Guaranty      $4,800,000
PO Box 600                     of (LakeWatch LLC)
Christiansburg, VA 24068       Commercial Loan
                               LakeWatch/Waterside

Bank of Botetourt              Personal Guaranty      $3,635,390
PO Box 339                     of (Penhook Pointe LLC)
Buchanan, VA 24066             Credit Line Deed of
                               Trust

Stellar One Bank               Personal Guaranty      $2,488,715
PO Box 600                     of (LakeWatch LLC)
Christiansburg, VA 24068       Commercial Loan
                               LakeWatch/Waterside

Wachovia Bank, NA              Personal Guaranty      $2,257,600
One Wachovia Center            of TBM 700 Airplane
Mail Code NC 0738              (LakeWatch LLC)
Charlotte, NC 28288-0738

TIB Bank                       Personal Guaranty      $2,100,010
PO Box 61039                   of (LakeWatch LLC)
Fort Myers, FL 33906           Commercial Loan
                               440 15th Street,
                               Naples, FL

Bank of Botetourt              Personal Guaranty      $2,029,531
PO Box 339                     of (Windstar
Buchanan, VA 24066             Properties LLC)
                               Credit Line Deed of
                               Trust
                               Lots 1, 14, 18, 36
                               38, 47 C. Cove

Stellar One Bank               Personal Guaranty      $1,968,565
PO Box 600                     of (LakeWatch LLC)
Christiansburg, VA 24068       Commercial Loan
                               LakeWatch/Waterside

Stellar One Bank               Personal Guaranty      $1,890,000
PO Box 600                     of (West Coast
Christiansburg, VA 24068       Group FL LLC)
                               Commercial Loan

Franklin Community Bank, NA    Personal Guaranty      $1,575,900
400 Old Turnpike, Suite 100     of (Windstar
Rocky Mount, VA 24151          Properties LLC)
                               Commercial Loan

Bank of Botetourt              Personal Guaranty      $1,423,513
PO Box 339                     of (LakeWatch
Buchanan, VA 24066             Homes LLC)
                               Commercial Loan
                               5 Carriage Homes

Bank of Botetourt              Personal Guaranty      $1,366,361
PO Box 339                     of (Windstar
Buchanan, VA 24066             Properties LLC)
                               Credit Line Deed of
                               Trust

Franklin Community Bank, NA    Personal Guaranty      $1,250,000
400 Old Turnpike, Suite 100     of (Windstar
Rocky Mount, VA 24151          Properties LLC)
                               Credit Line Deed of
                               Trust

TIB Bank                       1851 5th Street        $3,303,918
PO Box 61039                   Naples, Florida       ($2,241,936
Fort Myers, FL 33906           34102                  secured)

BB&T                           Personal Guaranty      $1,000,000
Michael Horan, Vice President  of (West Coast
310 First Street               Group VA LLC)
Roanoke, VA 24002              Commercial Loan
                               57 acres, Botetourt
                               County

Bank of Botetourt              Personal Guaranty      $852,478
PO Box 339                     of (LakeWatch LLC)
Buchanan, VA 24066             Credit Line Deed of
                               Trust

Stellar One Bank               Personal Guaranty      $807,000
PO Box 600                     of (Windstar
Christiansburg, VA 24068       Properties LLC)
                               Commercial Loan
                               Lots 18 and 22,
                               Virginia Key Trail

Bank of Botetourt              Personal Guaranty      $633,782
PO Box 339                     of (Windstar
Buchanan, VA 24066             Properties LLC)
                               Commercial Loan
                               87 acres, Kemp
                               Ford Road


ENERGYCONNECT GROUP: Names Andrew Warner as CFO and Secretary
-------------------------------------------------------------
EnergyConnect Group, Inc., said Andrew Warner has been named its
Chief Financial Officer and Secretary of the Company.

Mr. Warner replaces Randy Reed, who decided to step down from his
position and remain in Portland, Oregon, following the transfer of
the company's headquarters to Campbell, California.  Mr. Reed has
agreed to continue working with EnergyConnect Group as a
consultant for the company.

Mr. Warner has more than 20 years of experience in financial and
general management, serving the needs of technology, manufacturing
and service companies.  For the past two years, Mr. Warner has
been a consultant to emerging technology companies.  Prior to that
Mr. Warner was the CFO of SmartDisk Corporation, a provider of
storage solutions that was sold to Verbatim in 2007.  Mr. Warner
held the position of Chief Executive Officer of Zio Corporation, a
private, digital consumer electronics company acquired by
SmartDisk 2005.  Prior to Zio, he served as Chief Financial
Officer of SCM Microsystems Inc., a public company in the security
and digital electronics markets.  Reporting to EnergyConnect
President and Chief Executive Officer Kevin R. Evans, Mr. Warner
is assuming responsibility for the company's finance, accounting,
investor relations and administration duties effective
immediately.

"We are extremely pleased that Andrew has accepted the position.
Having known Andrew for more than a decade and having worked
together at a previous company, I am confident he has the right
combination of experience and talent to serve our financial and
business needs in the future," said Mr. Evans.  "Randy Reed has
guided the company's financial interests for over 20 years.  On
behalf of EnergyConnect, I want to recognize his personal
commitment to excellence and we wish him well in his future
endeavors."

Mr. Warner will be paid an annual salary of $175,000.  Upon his
appointment, Mr. Warner received a grant of 750,000 stock options,
consistent with EnergyConnect Group's approved stock option plan,
with an exercise price equal to $0.06, the closing price of
EnergyConnect Group's stock on August 3, 2009.  Mr. Warner will
receive an additional grant of 200,000 stock options, once a
sufficient number of options become available under EnergyConnect
Group's stock option plan, with an exercise price equal to the
closing price of EnergyConnect Group's stock on the day the
options become available for grant.

Andrew Warner commented, "I am delighted to join EnergyConnect and
as part of the executive team look forward to helping the company
achieve its financial and business goals."

Randy Reed noted, "My experience with EnergyConnect and Microfield
over the last two decades has been invaluable.  As a shareholder,
I wish them success as EnergyConnect continues its groundbreaking
path in the demand response industry."

                        Going Concern Doubt

In its quarterly report on Form 10-Q for the period ended April 4,
2009, EnergyConnect incurred net losses of $34,077,050 and
generated negative cash flow from operations in the amount of
$4,100,473.  The Company's current liabilities exceeded its
current assets by $7,506 as of January 3, 2009.  These factors
among others may indicate that the Company may be unable to
continue as a going concern for a reasonable period of time.

EnergyConnect said its existence is dependent upon management's
ability to develop profitable operations and resolve its liquidity
problems.  Management anticipates the Company will attain
profitable status and improve its liquidity through continued
growth, distribution and sale of its products and services, and
additional equity investment in the Company.

At January 3, 2009, the Company did not have any available credit,
bank financing or other external sources of liquidity.  Due to
EnergyConnect's brief history and historical operating losses, its
operations have not been a source of liquidity.  In February 2009,
the Company entered into a secured debt facility that will
supplement the Company's cash needs for 2009.  While EnergyConnect
believes its cash availability under this debt facility along with
cash generated by operations will be adequate for the next 12
months, EnergyConnect may need to obtain additional capital in
order to sustain and expand operations and become profitable.  To
obtain capital, EnergyConnect may need to sell additional shares
of its common stock or borrow funds from private lenders while
remaining in compliance with the terms of its debt facility.
There can be no assurance that EnergyConnect will be successful in
obtaining additional funding.

EnergyConnect may still need additional investments to continue
operations to cash flow break even.  Additional investments may be
sought, but EnergyConnect cannot guarantee that it will be able to
obtain such investments.  Financing transactions may include the
issuance of equity or debt securities, obtaining credit
facilities, or other financing mechanisms.  However, the trading
price of EnergyConnect common stock, the downturn in the U.S.
stock and debt markets and the first priority lien on all of its
assets granted to its secured lender could make it more difficult
to obtain financing through the issuance of equity or debt
securities.  Even if EnergyConnect is able to raise the funds
required, it is possible that EnergyConnect could incur unexpected
costs and expenses, fail to collect significant amounts owed to
EnergyConnect, or experience unexpected cash requirements that
would force EnergyConnect to seek alternative financing.  Further,
if EnergyConnect issues additional equity or debt securities,
stockholders may experience additional dilution or the new equity
securities may have rights, preferences or privileges senior to
those of existing holders of EnergyConnect common stock.  If
additional financing is not available or is not available on
acceptable terms, EnergyConnect may have to curtail its
operations.

By adjusting the Company's operations and development to the level
of capitalization, management believes it has sufficient capital
resources to meet projected cash flow deficits.  However, if
during that period or thereafter, the Company is not successful in
generating sufficient liquidity from operations or in raising
sufficient capital resources on terms acceptable to them, or is no
longer incompliance with the terms of EnergyConnect's debt
facility, this could have a material adverse effect on the
Company's business, results of operations liquidity and financial
condition.  If operations and cash flows continue to improve
through these efforts, management believes that the Company can
continue to operate.  However, no assurance can be given that
management's actions will result in profitable operations or the
resolution of its liquidity problems.

As of April 4, 2009, the Company had $5,407,933 in total assets;
and $2,801,840 in total current liabilities, and $2,167,832 in
total long-term liabilities.

                     About EnergyConnect Group

San Jose, California-based EnergyConnect Group, Inc. (OTCBB: ECNG)
-- http://www.energyconnectinc.com/-- through its subsidiary
EnergyConnect, Inc., provides a full range of demand response
services to the electric power industry.  Its customers are the
regional grid operators who pay the Company market rates for
reductions in electrical demand during periods of high prices or
peak demand and for being available to reduce electric power
demand on request at periods of capacity limitations or in
response to grid emergencies.  The Company's suppliers are large
commercial and industrial consumers of electricity who the Company
pays to shift their demand for electricity from high priced hours
in the day to lower priced hours.  The Company also pays
participating energy consumers to be available to curtail electric
demand on request.  On September 24, 2008, the Company's
shareholders voted to change the name of the Company to
EnergyConnect Group from Microfield Group, Inc.


ENNIS HOMES: Can Use Cash Collateral Until August 31
----------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of California
has issued a final order authorizing Ennis Homes, Inc., to use up
to $500,000 in secured creditors' cash collateral, not including
any funds on deposit with Chicago Title, Inc., until August 31,
2009, in accordance with a budget.

As adequate protection for the Debtor's use of cash collateral,
Wells Fargo Bank, Valley Business Bank and Tri-Counties Bank will
be granted replacement liens against all of the Debtor's real
property, other than real property that is subject to existing
liens of Wells Fargo Bank.  Said liens will be junior to all
existing lienholders.

In its motion, Ennis Homes said that Wells Fargo Bank, Valley
Business Bank and Tri-Counties Bank all have valid liens against
cash collateral, which consists, as of June 30, 2009, of:

   a. $90,000 on deposit at Suncrest Bank;

   b. $2,805 in the form of cash of hand; and

   c. $700,000 in projected loan repayments from Ennis Land
       Development, Inc.

According to its Web site, Ennis Homes was founded in 1979 by Ben
Ennis and has become one of the largest family owned homebuilders
in the Central Valley.  Son Brian Ennis serves as President and
daughter Pam Ennis acts as Vice President- Marketing of the
Company.

California homebuilder Ennis Homes Inc. filed for Chapter 11 on
(Bankr. E.D. Calif. Case No. 09-10848).  Hagop T. Bedoyan, Esq.,
and Jacob L. Eaton, Esq., represent the Debtor as counsel.  In its
petition, Ennis Homes listed between $100 million and $500 million
each in assets and debts.


ENNIS HOMES: Files New Schedules of Assets and Liabilities
----------------------------------------------------------
Ennis Homes Inc. has filed with the U.S. Bankruptcy Court for the
Eastern District of California amended schedules of its assets and
liabilities, disclosing:

     Name of Schedule               Assets       Liabilities
     ----------------            ------------    ------------
  A. Real Property                $13,420,000
  B. Personal Property           $164,194,260
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $75,316,272
  E. Creditors Holding
     Unsecured Priority
     Claims                                          $276,935
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                       $75,796,498
                                 ------------    ------------
TOTAL                            $177,614,260    $151,389,706

A copy of the Debtor's schedules is available at:

           http://bankrupt.com/misc/ennishomes.sal.pdf

According to its Web site, Ennis Homes was founded in 1979 by Ben
Ennis and has become one of the largest family owned homebuilders
in the Central Valley.  Son Brian Ennis serves as President and
daughter Pam Ennis acts as Vice President- Marketing of the
Company.

California homebuilder Ennis Homes Inc. filed for Chapter 11 on
(Bankr. E.D. Calif. Case No. 09-10848).  Hagop T. Bedoyan, Esq.,
and Jacob L. Eaton, Esq., represent the Debtor as counsel.  In its
petition, Ennis Homes listed between $100 million and $500 million
each in assets and debts.


EPICEPT CORP: Posts $7.1 Million Second Quarter 2009 Net Loss
-------------------------------------------------------------
EpiCept Corporation said that, for the second quarter ended
June 30, 2009, the net loss attributable to common stockholders
declined 9% to $7.1 million, or $0.06 per share, compared with a
net loss attributable to common stockholders of $7.8 million, or
$0.15 per share, for the second quarter of 2008. For the six
months ended June 30, 2009, the net loss attributable to common
stockholders was $29.6 million, or $0.27 per share, compared with
a net loss attributable to common stockholders of $13.8 million,
or $0.28 per share, for the six months ended June 30, 2008.

For the six months ended June 30, 2009, other expense, net
amounted to $20.0 million, consisting primarily of interest
expense incurred as a result of the conversion of $24.5 million of
the Company's 7.5556% convertible subordinated notes due 2014 into
approximately 27.2 million shares of its common stock.  Under the
terms of the notes, the holders received a make-whole payment in
an amount equal to the interest payable through the scheduled
maturity of the converted notes, which was funded from restricted
cash.  As of June 30, 2009, EpiCept had cash and cash equivalents
of $14.1 million and 130.7 million shares outstanding.

"During the second quarter we continued to advance our important
product candidates both commercially and in the clinic," said Jack
Talley, EpiCept's Chief Executive Officer.  "We launched a Named-
Patient Program for Ceplene(R) to ensure that patients with Acute
Myeloid Leukemia in first remission have access to this vital drug
while we work to secure a marketing partner in Europe.  We also
sponsored our first commercial booth at the European Hematology
Association meeting in Berlin for Ceplene(R), began a post-
marketing study with Ceplene(R) to fulfill our post-approval
commitments with the EMEA, recently filed an NDS in Canada and
made progress in preparing a regulatory submission for approval of
Ceplene(R) in the U.S."

Mr. Talley added, "We narrowed our net loss in the second quarter,
despite recording approximately $1 million in expenses related to
closing our San Diego facility.  Lower operating expenses for the
quarter reflect actions taken in January to reduce expenses by
rationalizing facilities and reducing headcount, while
streamlining our focus on drug candidates that are closer to
commercialization or partnering."

As of June 30, 2009, EpiCept had $16.4 million in total assets and
$19.8 million in total liabilities, resulting in $3.39 million in
stockholders' deficit.  EpiCept said its existing cash and cash
equivalents should be sufficient to meet its projected operating
and debt service requirements into the second quarter of 2010.
Additional funding for the Company's operations is anticipated to
be derived from sales of Ceplene(R) in Europe, fees from the
Company's strategic partners including a marketing partner for
Ceplene(R) in Europe, strategic relationships for other product
candidates including NP-1 or other financing arrangements.

A full-text copy of EpiCept's Quarterly Report on Form 10-Q for
the quarter ended June 30, 2009, is available at no charge
at http://ResearchArchives.com/t/s?4173

                       Nasdaq Listing Update

On August 3, 2009, EpiCept received a letter from the Nasdaq
Listing Qualifications Department stating that the Company had not
regained compliance with the minimum bid price requirement under
Listing Rule 5550(a)(2) by July 28, 2009 and, as a result, its
common stock would be subject to delisting from The Nasdaq Capital
Market unless the Company requests an appeal before the Nasdaq
Hearings Panel.  The Company intends to request a hearing before
the Panel, which will stay the delisting of its common stock
pending the issuance of a decision by the Panel following the
hearing.  The Company expects that the hearing will be scheduled
for September 2009.  At the hearing, the Company will request
continued listing on The Nasdaq Capital Market based upon its plan
for demonstrating compliance with the applicable listing
requirements.  Pursuant to the Nasdaq Marketplace Rules, the Panel
has the authority to grant the Company up to an additional 180
days from August 3, 2009, i.e. through January 30, 2010 to
implement its plan of compliance.  There can be no assurance that
the Panel will grant the Company's request for continued listing
on The Nasdaq Stock Market.

                        About EpiCept Corp.

Based in Tarrytown, New York, EpiCept Corporation (Nasdaq and OMX
Nordic Exchange: EPCT) -- http://www.epicept.com/-- is a
specialty pharmaceutical company focused on the development of
pharmaceutical products for the treatment of cancer and pain.  The
company has a portfolio of five product candidates in active
stages of development.  It includes an oncology product candidate
submitted for European registration, two oncology compounds, a
pain product candidate for the treatment of peripheral
neuropathies and another pain product candidate for the treatment
of acute back pain.  The two wholly owned subsidiaries of the
company are Maxim, based in San Diego, California, and EpiCept
GmbH, based in Munich, Germany, which are engaged in research and
development activities.

                       Going Concern Doubt

On March 11, 2009, Deloitte & Touche LLP in Stamford, Connecticut
raised substantial doubt about the Company's ability to continue
as a going concern after auditing financial results for the
periods ended December 31, 2008, and 2007.  The auditors pointed
to the Company's recurring losses from operations and
stockholders' deficit.


EPIXTAR CORP: Files New Ch. 11 Plan; Laurus Gets Majority Stake
---------------------------------------------------------------
Epixtar Corp. and its affiliates have a filed with the U.S.
Bankruptcy Court for the Southern District of Florida a new
Chapter 11 plan that is being co-sponsored by the official
committee of unsecured creditors.

This is the second plan filed by the Debtors with the Bankruptcy
Court.  The Debtors did not pursue confirmation of the original
plan following denial of the amended rehabilitation plan by a
court in the Philippines in December 2007.

The Debtors' exclusive periods to file a Plan have expired.

                      Summary of Plan Terms

On the Plan's effective date, all assets of the Debtors will be
vested in the Reorganized Debtors, and the Reorganized Debtors
will assume all of the Debtors' rights, obligations and
liabilities under the Plan.

Allowed unsecured claims under Class 10 will receive:

  (i) a pro rata share of 29% of the new equity to be issued in
      the Reorganized Debtors; provided, however, in the event
      that the New Equity to be issued to Laurus Master Fund, Ltd.
      and the Sands Entities is reduced to 45%, the allowed
      unsecured claims equity will be increased from 29% to 45%;

(ii) pro rata share of (x) 50% of the net proceeds from the
      from the Company's lawsuit against McClain & Company, LLC,
      CBIZ, Inc., et al., (suit asserting damages arising from,
      among other things, malpractice, breach of contract and
      tortious interference by auditors who were tasked to audit
      the Company's 2005 financial statements) following
      satisfaction of the allowed deferred administrative claims
      and priority claims and (y) 50% of the net proceeds from the
      Auditor Action previously payable to Laurus and the Sands
      Entities following satisfaction of the $2.2 million owed to
      Laurus Master Fund, Ltd., for a DIP financing, the $3.5
      million promissory note to be issued to Laurus and the
      $1,500,000 promissory note to be issued to Sands Brothers
      Venture Capital LLC, et al.; and

(iii) pro rata share of 50% of the carve out from sales proceeds.

Pursuant to a Court-approved settlement with the Debtors, Laurus,
a prepetition and a DIP lender, will obtain all of the outstanding
shares of stock of the units constituting the Debtors' Internet
service providing business.  In connection with the transfer of
the ISP business, NOL Group, a subsidiary of Epixstar, will convey
its interest in Ameripages, B2B, Liberty Online, National Online,
to Laurus pursuant to the settlement.

Under the Plan, Laurus will receive 51% of the new equity to be
issued by Reorganized Debtors, but the stake will be reduced to
35% in thee vent the Laurus DIP Financing and the New Laurus Note
are both satisfied in full.

Transvoice, LLC, which will have an allowed claim of $3,000,000,
will receive no distribution on account of its claim unless and
until other holders of allowed unsecured claims receive a 27.4%
distribution on account of their claims.

Allowed equity interests under Class 11 will not receive any
property or other distribution under the Plan and their interests
shall be cancelled.

              Classification of Claims and Interests

                                      Estimated     Estimated
Class    Description                  Amounts      Recovery
-----    -----------                -----------    ---------
   1      Other Priority Claims               $0      100%
   2      Laurus Secured Claim        $3,500,000    __% to __%
   3      Sands Secured Claim         $1,500,000    __% to __%
   4      WVED Secured Claim            $190,000    __% to __%
   5      OVIBDC Secured Claims         $135,000    __% to __%
   6      GenCap Secured Claims         $839,142    __% to __%
   7      Commander Secured Claim       $26,929     __% to __%
   8      Hart Secured Claim            $79,504     __% to __%
   9      Other Secured Claims               $0        100%
  10      Unsecured Claims          $18,000,000     __% to __%
  11      Equity Interests                   --     No recovery

Under the Plan, Classes 4, 5, 6, 7, 8, 10, and 11 are impaired and
entitled to vote on the Plan.  Classes 1, 2, 3, and 9 are
unimpaired and, thus, holders thereof are deemed to have accepted
the Plan.

A copy of the disclosure statement explaining the New Plan is
available for free at:

http://bankrupt.com/misc/Epixtar_July09_DiscStatement.pdf

              Philippines Rehabilitation Proceeding

Immediately after commencing the cases, Epixtar Philippines filed
a petition for rehabilitation in the Regional Trial Court, Branch
90, in Quezon City, Philippines.  Epixtar Philippines has filed an
amended rehabilitation plan with the court.  The amended plan did
not provide for interest, but proposes full recovery by creditors.
In a ruling issued in December 2007, the court denied approval of
the amended rehabilitation plan, and as a result, Epixtar
Philippines lost the benefit of the stay applicable in the
rehabilitation proceeding and exposed it to potential adverse
creditor actions.

The Company has stopped operating its call center in the
Philippines due to losses.

                      About Epixtar Corp.

Based in Miami, Florida, Epixtar Corp. fdba Global Assets
Holding Inc. -- http://www.epixtar.com/-- and its direct and
indirect subsidiaries operates two primary lines of business: (i)
business process outsourcing, and (ii) internet service providing.
The ISP business was historically conducted through Epixtar's
wholly owned subsidiary, NOL Group, Inc., as sell as NOL's wholly
owned operating subsidiaries, Ameripages, Inc., B2B Advantage,
Inc., Liberty Online Services, Inc. and National Online Services,
Inc.

The BPO services concentrated on contact center activities in the
United States and the Philippines.  Voxx Corporation operates the
offshore contact or call centers, and is also the holding company
for Epixtar Marketing Corporation, which operates the domestic
call centers.

The Company and its debtor-affiliates filed for Chapter 11
protection on October 6, 2005 (Bank. S.D. Fla. Case No. 05-42040).
Michael D. Seese, Esq., at Hinshaw & Culbertson, LLP, and Eyal
Berger, Esq., at Kluger, Peretz, Kaplan and Berlin, P.L.,
represent the Debtors in their restructuring efforts.  Carlos E.
Sardi, Esq., Glenn D. Moses, Esq., and Paul J. Battista, Esq., at
Genovese Joblove & Battista, P.A., represent the official
committee of unsecured creditors as counsel.  When the Debtors
filed for protection from their creditors, they listed total
assets of $30,376,521 and total debts of $39,158,724.


FOOTHILLS RESOURCES: Wants DIP Facility Extended to November 30
---------------------------------------------------------------
Foothills Resources, Inc., et al., ask the U.S. Bankruptcy Court
for the District of Delaware for authority to enter into a second
amendment on their existing DIP Facility with Regiment Capital
Special Situations Fund III. L.P., extending the maturity date
thereof from August 19, 2009, until November 30, 2009.

The Debtors also ask the Court to authorize the continued use of
cash collateral, in accordance with a budget.

As reported in the TCR on June 2, 2009, the Bankruptcy Court
extended the maturity date of Foothills Resources' existing DIP
Facility with Regiment Capital Special Situations Fund III. L.P.
from May 19, 2009, through August 19, 2009.  The Court also
authorized the Debtors to continue using cash collateral through
the extended due date.

Foothills has approval to obtain term loans of up to $2.5 million
from Regiment Capital.

Foothills Resources, Inc., is engaged in the acquisition,
exploration and development of oil and natural gas properties.
The Company's operations are conducted primarily through its
wholly owned subsidiaries, Foothills California, Inc., Foothills
Texas, Inc., and Foothills Oklahoma, Inc.

On February 11, 2009, Foothills Resources and its wholly owned
subsidiaries, Foothills California, Foothills Oklahoma, and
Foothills Texas, filed voluntary petitions for relief under
Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Lead Case No.
09-10452).  Judge Christopher S. Sontchi handles the Chapter 11
cases.  Akin Gump Strauss Hauer & Feld LLP is the Debtors' lead
bankruptcy counsel.  Norman L. Pernick, Esq., and Patrick J.
Reilley, Esq., at Cole, Schotz, Meisel, Forman & Leonard,
represent the Debtors as Delaware counsel.  The Garden City Group,
Inc., is the claims agent for the Debtors.  In its bankruptcy
petition, Foothills listed between $50 million and $100 million
each in assets and debts.

The Debtors' exclusive period to file a plan expires on October 9.


FRAMINGHAM 4 BISHOP: Case Summary & 11 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Framingham 4 Bishop, LLC
        40 Mechanic Street
        Marlborough, MA 01752

Bankruptcy Case No.: 09-43268

Chapter 11 Petition Date: August 11, 2009

Debtor-affiliates filing separate Chapter 11 petition August 11,
2009:

        Entity                                     Case No.
        ------                                     --------
Framingham Clinton Street, LLC                     09-43269

Debtor-affiliates filing separate Chapter 11 petition June 19,
2007:

        Entity                                     Case No.
        ------                                     --------
201 Forest Street, LLC                             07-42296

Debtor-affiliates filing separate Chapter 11 petition May 9, 2007:

        Entity                                     Case No.
        ------                                     --------
219 Forest Street, LLC                             07-41768

Court: United States Bankruptcy Court
       District of Massachusetts (Worcester)

Debtor's Counsel: Harold B. Murphy, Esq.
                  Hanify & King, P. C.
                  One Beacon Street, 21st Floor
                  Boston, MA 02108
                  Tel: (617) 423-0400
                  Fax: (617)556-8985
                  Email: bankruptcy@hanify.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $10,000,001 to $50,000,000

A list of the Company's 11 largest unsecured creditors is
available for free at:

           http://bankrupt.com/misc/mab09-43268.pdf

The petition was signed by David P. Depietri, manager of the
Company.


FRONTIER AIRLINES: Republic & Southwest to Face Off Today
---------------------------------------------------------
Frontier Airlines Inc. will conduct an auction for substantially
all of its assets beginning today, August 13.

Southwest Airlines Co. has submitted an offer to acquire Frontier
Airlines for more than $170 million cash.  Republic Airways
Holdings Inc. earlier submitted a $108.75 million offer.  The two
airlines could outbid each other at the auction.

Frontier heard presentations on competing takeover bids from
Southwest and Republic Airways on the eve of the Aug. 13
bankruptcy auction.

According to Bloomberg, Southwest would eliminate its low-fare
competition in Denver by purchasing Frontier and gain access to
direct flights to Mexico and Atlanta, the busiest U.S. airport.
Republic would secure a fourth regional airline unit and a fleet
of 51 Airbus SAS jets.

"Southwest will walk away with the prize," said Michael Boyd, an
aviation consultant at Boyd Group in Evergreen, Colorado,
according to the Bloomberg report.  "There's nobody to whom
Frontier offers as much value as Southwest.  It's a tactical
opportunity that's presented itself and Southwest has to take it."

The sale hearing is scheduled to begin less than 21 days following
the auction.  The auction is scheduled to end August 17.

Frontier Airlines has submitted to the Bankruptcy Court a proposed
Chapter 11 plan, which is built upon the sale of its assets to
Southwest or to the winning bidder at the auction, which is
scheduled to end August 17.  Under the Republic-backed plan,
holders of unsecured claims expected to aggregate up to $350
million would recover 8.2% to 9.6% of their allowed claims and
holders of interests in the holding company would receive nothing.

The Court will consider confirmation of the Plan on September 10.

A full-text copy of the Plan is available for free at:

    http://bankrupt.com/misc/FAH_Chapter11Plan.pdf

A full-text copy of the disclosure statement explaining the Plan
is available for free at:

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

The Bankruptcy Court has approved an investment agreement between
Frontier and Republic, pursuant to which Frontier will pay
Republic a termination fee of $3.5 million and reimburse expenses
of up to $350,000 if the Debtor sells its business to another
party.

Even prior to the bidding process, Republic has already been
active in Frontier's bankruptcy cases.  Republic is a member of
the Official Committee of Unsecured Creditors and is providing
Frontier debtor-in-possession financing until Dec. 1, 2009.

                         Pilot Contracts

According to Bloomberg, Southwest Airlines resumed talks with its
pilots union last week to consider a contract proposal from the
union.  Southwest is seeking concessions from the union in order
to cut operating costs, as it joins other carriers in slashing
fares to encourage travel in the recession.  The airline and the
Southwest Airlines Pilots' Association have been engaged in
negotiations on a new contract agreement since it became amendable
in September 2006.  However, talks ended in June after 51% of
pilots voted against a new five-year agreement offered by the
airline.

According to Mary Schlangenstein at Bloomberg News, should
Southwest Airlines Co., succeed in acquiring Frontier Airlines,
the pilots will have to negotiate two more agreements.  She said
Southwest would have to resolve (i) how the two sets of pilots
would operate until Frontier is merged into Southwest, and (ii)
how the pilot groups are combined on a single seniority list.

                 About Frontier Airlines Holdings

Frontier Airlines Holdings, Inc. (Pink Sheets: FRNTQ) --
http://www.FrontierAirlines.com/-- is the parent company of
Denver-based Frontier Airlines.  Currently in its 15th year of
operations, Frontier Airlines is the second-largest jet service
carrier at Denver International Airport, employing approximately
5,000 aviation professionals.  Frontier Airlines' mainline
operation has 51 aircraft with one of the youngest Airbus fleets
in North America.  In conjunction with a fleet of 10 Bombardier
Q400 aircraft operated by Lynx Aviation -- a subsidiary of
Frontier Airlines Holdings, Inc. -- Frontier offers routes to more
than 50 destinations in the U.S., Mexico and Costa Rica.

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

The Debtors' exclusive period to file a plan of reorganization
will expire on October 9, 2009.  Their exclusive period to solicit
and obtain acceptances of that plan will expire December 9, 2009.

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


GREEKTOWN HOLDINGS: Amends Plan & Disclosure Statement
------------------------------------------------------
Greektown Holdings LLC and its debtor affiliates, together with
Merrill Lynch Capital Corporation, as administrative agent for
the DIP Lenders, submitted to the Court their First Amended Joint
Plan of Reorganization and Disclosure Statement on August 6,
2009.

As previously reported, the Debtors amended the Disclosure
Statement to address the objections filed by various parties.
The First Amended Plan and Disclosure Statement contain some
exhibits, which were not included in the Debtors' prior filing,
including the hypothetical liquidation analysis and consolidated
financial statements.

The Debtors have also specified under their Amended Plan that
holders of prepetition lenders' claims can either be paid via a
pro rata share of the Plan Note or cash equal to the holders'
allowed claim.

A full-text copy of the Debtors' blacklined 1st Amended Plan and
a clean copy of the Debtors' 1st Amended Disclosure Statement is
available for free at:

         http://bankrupt.com/misc/GrktnCom1stAmPlan.pdf
         http://bankrupt.com/misc/Grktn1stAmDS.pdf

                    Committee, et al., React

The Official Committee of Unsecured Creditors, Deutsche Bank
Trust Company Americas, as Indenture Trustee for the Senior
Notes, and MFC Global Investment Management submitted their joint
objection to the Debtors' 1st Amended Plan.  The document,
however, was filed under seal.

Subsequently, the Objecting Parties supplemented their objection
to the Plan to include language contained in the Debtors'
August 11, 2009 press release regarding the increase of profits
and market share for the month of July 2009.

                      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)


GREEKTOWN HOLDINGS: City of Detroit Sues for Contract Breach
------------------------------------------------------------
The City of Detroit commenced an adversary complaint against
Greektown Casino LLC on August 10, 2009, seeking compensatory and
liquidated damages for Greektown Casino's breach of a revised
Development Agreement related to Greektown's newest hotel in
Detroit.

The Development Agreement was entered into by the City, the
Economic Development Corporation of the City of Detroit and
Greektown Casino.  It defines Greektown Casino's contractual
duties and obligations in the development, construction and
operation of a casino in the City of Detroit.

On the City's behalf, Cezar M. Froelich, Esq., at Shefsky &
Froelich Ltd., in Chicago, Illinois, asserts that Greektown
Casino breached the Development Agreement by:

  (1) suspending construction of the Casino Complex on
      February 15, 2009;

  (2) failing to achieve final completion of the Casino Complex
      on or before the Final Completion Date;

  (3) failing to construct all required components of the Casino
      Complex;

  (4) failing to comply with the City of Detroit's zoning
      regulations;

  (5) violating the financial covenants established by the
      Michigan Gaming Control Board's November 15, 2005 Order;

  (6) failing to construct the "theater component," simultaneous
      with the other Casino components;

  (7) failing to conduct a public offering to sell 10% of its
      ownership interest to local residents;

  (8) failing to submit an adequate report of compliance
      regarding certain "social covenants";

  (9) filing for bankruptcy protection;

(10) failing to pay Development Process Costs; and

(11) failing to pay the 1% gaming tax increase.

In addition to the recovery of damages, the City also seeks
specific performance as to all claims where relief is
appropriate, the award of attorneys' fees and costs, and/or the
termination of the Development Agreement.

                      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)


GREEKTOWN HOLDINGS: Committee Wants Rejection Letter in Plan Docs.
------------------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
cases of Greektown Holdings LLC asks the Court to include a
recommendation letter they prepared among the solicitation
materials that are to be distributed in connection with the
solicitation of creditors' plan votes.

The Committee Letter urges unsecured creditors to vote to reject
the Plan proposed by the Debtors.

The Committee notes in its Recommendation Letter that the
Debtors' Plan significantly undervalues the Debtors' enterprise
and as a result, the value of the reorganized entity is
significantly in excess of the Prepetition Lenders' claims.  This
excess value should be distributed to the unsecured creditors,
the Committee insists.  The Committee also asserts that the
Debtors' gaming license and avoidance actions of insider
transactions, potentially in excess of $140 million, are not
encumbered by the Prepetition Lenders' liens and thus, any value
of the license and the actions properly belongs to unsecured
creditors.

A full-text copy of the Committee Letter is available for free
at http://bankrupt.com/misc/GrktnComLetter.pdf

Joel D. Applebaum, Esq., at Clark Hill PLC, in Detroit, Michigan,
relates that given the deficiencies of the Plan and Disclosure
Statement, the Committee believes creditors will benefit from the
information and the Committee's recommendation contained in the
Letter.

Mr. Applebaum contends that the Letter is presented in good faith
and is free of misleading statements.  Accordingly, he asserts
that the Letter enhances disclosure to creditors, especially in
view of the weaknesses of the Debtors' Plan and Disclosure
Statement.

In a separate filing, the Committee sought and obtained a Court
order to shorten the notice period and schedule an expedited
hearing of their request on August 12, 2009 or as soon as the
Court may deem possible.

                      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)


GREEKTOWN HOLDINGS: Luna & Plainfield File Alternative Plan
-----------------------------------------------------------
Luna Greektown LLC and Plainfield Asset Management LLC and its
affiliates are proposing their own competing Chapter 11 plan and
corresponding disclosure statement in the bankruptcy proceedings
of Greektown Holdings LLC and its debtor affiliates.

Luna and Plainfield or the "Alternative Plan Sponsors" now seek
Court approval of solicitation and notice procedures as well as
voting and tabulation procedures in light of their Alternative
Plan.

The Alternative Plan Sponsors are simultaneously filing an
Alternative Plan and Alternative Disclosure Statement dated
August 11, 2009, with their Plan Solicitation Motion.

The August 11 Alternative Plan contemplates:

  -- the continued existence of Debtor Greektown Holdings LLC,
     Greektown Casino LLC, Contract Builders Corporation and
     Realty Equity Company Inc. as Reorganized Entities as of
     the Plan Effective Date;

  -- the transfer of all assets of Greektown Holdings II, Inc.,
     Trappers GC Partner LLC, Monroe Partners LLC, and Kewadin
     Greektown Casino Inc., except for causes of action, to
     Reorganized Greektown Holdings;

  -- a $16.72 million cash contribution to be made by the
     Alternative Plan Sponsors to Reorganized Holdings to be
     distributed according to the Plan;

  -- the issuance of new common stock on the Effective Date.  On
     account of their $16.72 million Cash Contribution and their
     Claim, Luna and Plainfield will receive 29.41% of the New
     Common Stock to be issued;

  -- each Prepetition Lender will receive, at its option, a Pro
     Rata share of 70.59% of New Common Stock, or the New
     Subordinated Debt and the Cash Distribution; and

  -- a $275 million exit financing to be obtained by the
     Alternative Plan Sponsors.

The Alternative Plan also designates claims and interests against
the Debtors into 39 classes and provides information on those
claims' expected recovery.  Among others, expected recovery for
DIP Lender Claims is 100%, Prepetition Lender Claims is 77%, a
pro rata share for general unsecured claims, and no recovery for
"interests."  Administrative Claims, Priority Tax Claims and
Other Priority Claims are expected to be paid in full.

The Alternative Plan Sponsors also prepared a valuation analysis
of the Debtors' business based on data and information gathered
as of June 30, 2009.  Upon that analysis, they believe that the
actual value of the Debtors' assets equal $485 million.

In addition, the Alterative Disclosure Statement provides
information on the businesses of Luna and Plainfield and their
directors, managers and officers, which include Thomas Celani,
Max Holmes, and Marc Sole.

Upon approval of the Alternative Plan, Luna and Plainfield
contemplate to be actively engaged in the management and
operation of the Reorganized Debtors.

The Alternative Plan Sponsors also reserve the right to seek a
"Substantial Contribution Claim" or otherwise seek the payment of
a Break-up Fee in the event a plan based on a "competing
proposal" is confirmed, as well as reimbursement of all out-of-
pocket expenses incurred in relation to the proposal of the
Alternative Plan.

Luna and Plainfield are represented by Foley & Lardner LLP.

Full-text copies of the Amended Luna Plan and Disclosure
Statement dated August 11, 2009, and the corresponding redlined
versions of the Plan documents are available for free at:

     http://bankrupt.com/misc/GrktnAmndLunaPlan.pdf
     http://bankrupt.com/misc/GrktnLunaDS.pdf
     http://bankrupt.com/misc/GrktnLunaDSRed.pdf
     http://bankrupt.com/misc/GrktnLunaPlanRed.pdf

                    Form of Disclosure Statement

The Alternative Plan Sponsors ask the Court to enter an order
approving the form and requiring the inclusion of the Alternative
Disclosure Statement with any solicitation materials to be
distributed by proponents of the Debtors' Plan in connection with
the solicitation of creditors' votes.

Katherine R. Catanese, Esq., at Foley & Lardner LLP, in Detroit,
Michigan, asserts that the Alternative Disclosure Statement is a
detailed document setting forth, among other things, (a) the
Debtors' history and business operations, (b) significant events
in the Debtors' Chapter 11 cases, (c) the terms of the
Alternative Plan, (d) voting on the Alternative Plan and the
confirmation hearing, and (e) the income tax consequences of the
Alternative Plan.

The Alternative Plan Sponsors aver that the Alternative
Disclosure Statement contains "adequate information" regarding
the Alternative Plan and otherwise complies with the requirement
of Section 1125 of the Bankruptcy Code.

                     Solicitation Procedures

The Alternative Plan Sponsors propose that (1) the Alternative
Plan; (2) the Alternative Disclosure Statement; (3) a
solicitation letter, briefly explaining the Alternative Plan
Sponsors' views of the competing plans of reorganization; and (4)
appropriate Ballot and voting instructions be included in, and
disseminated, as part of the Solicitation Package.  To that end,
the Alternative Plan Sponsors seek an order requiring the
Debtors' Balloting Agent to assist them in soliciting approval or
rejection of the Alternative Plan.

Specifically, to minimize the inevitable creditor confusion
attendant to receiving two separate packages for voting on the
competing plans in the Debtors' cases, the Alternative Plan
Sponsors propose that the Balloting Agent (i) serve Solicitation
Packages for both the Alternative Plan and the Debtors' Plan on
all creditors concurrently, and (ii) receive and tabulate all
Ballots accepting and rejecting the Alternative Plan.

The Alternative Plan Sponsors agree to reimburse the Debtors'
estates for that portion of the Balloting Agents' fees and
expenses allocable to the solicitation, approval, and tabulation
of votes to accept or reject the Alternative Plan.

The Alternative Plan Sponsors further propose that the
Solicitation Package inform parties-in-interest that the
Alternative Plan, Alternative Disclosure Statement, Solicitation
Letter, and Ballot can be obtained from the Balloting Agent:

  -- by writing to:

       Kurtzman Carson Consultants LLC
       Attn: Greektown Balloting
       2335 Alaska Avenue
       El Segundo, California 90245

  -- by calling 866.381.9100,

  -- by sending an e-mail to greektowninfo@kccllc.com

  -- at the Debtors' website,
     http://www.kccllc.net/greektowncasino

  -- for a fee via PACER at http://www.mieb.uscourts.gov/

                         Form of Ballots

All votes to accept or to reject the Alternative Plan must be
cast by using the relevant Ballot.  The Alternative Plan
Sponsors, in accordance with Rules 3017(d) and 3018(c) of the
Federal Rules of Bankruptcy Procedure, prepared and customized
Ballots for individual Holders of Claims in each Class entitled
to vote under the Alternative Plan.  The forms of the Ballots are
based substantially on Official Form No. 14, modified to address
the particular needs of the Debtors' proceedings and each of the
Voting Classes.

                        Solicitation Letter

The Alternative Plan Sponsors also seek entry of a Court order
approving the form and requiring the inclusion of a Solicitation
Letter with any solicitation materials distributed by proponents
of the Debtors' Plan in connection with the solicitation of
creditors' votes on the Debtors' Plan and the Alternative Plan.

The Alternative Plan Sponsors propose to send to Holders of
claims not entitled to vote on the Plan, in addition to the
Solicitation Package, excluding the ballots and the Solicitation
Letter, a Notice of Non-Voting Status.

                      Voting Record Date

The Alternative Plan Sponsors ask the Court to set the voting
record date established with respect to the Debtors' Plan as the
voting record date for determining (i) the Holders of Claims that
are entitled to receive Solicitation Packages in accordance with
the Solicitation Procedures; (ii) the Holders of Claims that are
entitled to vote to accept or to reject the Alternative Plan; and
(iii) whether Claims have been properly transferred to an
assignee pursuant to Rule 3001(e) of the Federal Rules of
Bankruptcy Procedure so that the assignee can vote as the Holder
of the Claim.

Only the Holders of Impaired Claims in Voting Classes will be
entitled to vote on the Alternative Plan, and the Holders of
Impaired Claims will be limited to:

  a. Holders of Claims for which Proofs of Claim have been
     timely filed, as reflected in the Claims Register, as of
     the Voting Record Date;

  b. Holders of Claims that are listed in the Debtors'
     Schedules, with the exception of those Claims that are
     listed in the Schedules as contingent, unliquidated, or
     disputed;

  c. Holders whose Claims arise pursuant to an agreement or
     settlement with the Debtors executed prior to the Voting
     Record Date, as reflected in a document filed with the
     Bankruptcy Court, in an order of the Bankruptcy Court, or
     in a document executed by the Debtors pursuant to authority
     granted by the Bankruptcy Court, regardless of whether a
     Proof of Claim has been filed.

The assignee of a transferred or assigned Claim will be permitted
to vote on that Claim only if the transfer or assignment has been
fully effectuated pursuant to the procedures dictated by
Bankruptcy Rule 3001(e) and that transfer is reflected on the
Claims Register as of the close of business on the Voting Record
Date.

                Voting Deadline, Confirmation Hearing

The Alternative Plan Sponsors relate that they will submit
proposed dates for the Voting Deadline, the Confirmation Hearing,
and other Alternative Plan-related events at the hearing of their
Solicitation Motion.

The Alternative Plan Sponsors propose that the Court establish
7:00 p.m. Eastern Standard Time, on a date that is not less than
five days before the date of the hearing to confirm the
Alternative Plan as the voting deadline for the Alternative Plan.

The Alternative Plan Sponsors further ask the Court to establish
the same date and time as the Voting Deadline as the date and
time by which any and all objections to the Alternative Plan must
be filed.

                        Expedited Request

The Alternative Plan Sponsors seek an expedited consideration of
their Solicitation Motion.  Thus, they ask the Court to require
all responses to the Motion be filed no later than August 13,
2009, and the hearing to consider approval of the Alternative
Disclosure Statement be set for August 14.

As previously reported, the Alternative Plan Sponsors sought an
adjournment of the August 5, 2009 Disclosure Statement hearing
for a chance to file a competing plan.  At the August 5 hearing,
Judge Shapero directed the Sponsors to present a detailed plan by
August 11, as to which the Sponsors complied with.

The Court has scheduled a continued hearing on the approval of
the Debtors' Disclosure Statement for August 12, 2009.

                      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)


GREEKTOWN HOLDINGS: Posts Record Revenues for 3 Straight Months
---------------------------------------------------------------
For the third month in a row, Greektown Casino-Hotel posted record
monthly profits and revenue.  Projected EBITDAR (Earnings before
Interest, Taxes, Depreciation, Amortization, and Restructuring
Expenses) for July 2009 is $7.3 million -- the highest July on
record for the property when taking into account the differing
yearly tax rates.

Revenue for July was also up year-over-year by nearly 25 percent,
the highest revenue result for July in the property's history and
the third-straight month the property has set all-time revenue
records.  Finally, Greektown once again gained market share,
capturing more than another full point of the Detroit market, and
reaching 27.5 percent, up an astounding five points since January.
Both competitors once again posted negative year-over-year results
for revenue in a market that was down two tenths of a percent
overall.  Greektown's outstanding results were aided by the
monthly all-time high of more than 600,000 patrons visiting the
property.

"We are thrilled with our success in offering former Windsor
gamblers a new home right here in Detroit," said Randall A. Fine,
Managing Director of The Fine Point Group and Chief Executive
Officer of Greektown.  "With the help of all those bringing their
Windsor offers to Greektown -- where we will double them -- we
continue to surpass previous records in profit and revenue.  We
continue to gain market share and to accomplish things everyone
believes are impossible in a down market and down economy.  There
is nothing that intelligent management, smart marketing and an
outstanding Greektown team can't accomplish -- our numbers prove
that month after month," Mr. Fine added.

Located at 555 E. Lafayette Boulevard in Detroit's Greektown
Entertainment District, Greektown Casino-Hotel opened on Nov. 10,
2000.  Readers of The Detroit News and Detroit Free Press have
voted Greektown Casino-Hotel Michigan's and Detroit's "Best
Casino" numerous times.  Greektown Casino-Hotel offers such
amenities as their all-new International Buffet, the Eclipz
Lounge and a VIP lounge for players. In addition to being named
"Best Casino" by readers of The News and Free Press, Greektown
Casino-Hotel also placed first in other categories in The News'
reader survey, including "Best Slots," "Best Wait Staff Outfits,"
"Best Craps Tables," "Best Blackjack Tables," "Best High Rollers
Area," "Best Casino Restaurant," and "Best Casino Entertainment."
Greektown Casino-Hotel opened its new 400-room hotel tower
February 2009.  For reservations and group events, call 877-GCH-
5554 or visit http://www.greektowncasino.com/

                      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)


HUNTSMAN INTERNATIONAL: S&P Assigns 'B-' Rating on $600 Mil. Notes
------------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B-' issue-level
rating (one notch lower than the corporate credit rating on the
company) to Huntsman International LLC's $600 million 5.5% senior
unsecured notes due 2016.  S&P assigned a '5' recovery rating,
indicating expectations of modest recovery (10%-30%) in the event
of a payment default.

Huntsman International LLC (B/Stable/--) issued the 5.5% senior
unsecured notes to Credit Suisse and Deutsche Bank as part of a
$1.7 billion settlement with the banks in favor of parent Huntsman
Corp. (B/Stable/--).  The settlement related to the terminated
merger agreements with Apollo Management-owned Hexion Specialty
Chemicals Inc. Huntsman has used the proceeds of the settlement to
pay down in July and August 2009, all $296 million of principal
outstanding on the company's 11.625% senior secured notes due
2010, and all $198 million of principal outstanding on 11.5%
senior notes due 2012.  The remaining portion of the settlement
has bolstered liquidity at the company.

                           Ratings List

                    Huntsman International LLC

       Corporate Credit Rating                   B/Stable/--

                         Ratings Assigned

                    Huntsman International LLC

           $600 Mil. 5.5% Sr Unsec Notes Due 2016    B-
             Recovery Rating                         5


JAMES MICHAEL MATHENY: Case Summary & 20 Largest Unsec. Creditors
-----------------------------------------------------------------
Joint Debtors: James Michael Matheny
                   dba Mike Matheny
               Karen Hovis Matheny
               109 Lake Cliff Court
               Cary, NC 27513-5695

Bankruptcy Case No.: 09-06727

Chapter 11 Petition Date: August 11, 2009

Court: United States Bankruptcy Court
       Eastern District of North Carolina (Wilson)

Debtors' Counsel: David J. Haidt, Esq.
                  Ayers, Haidt & Trabucco, P.A.
                  PO Box 1544
                  New Bern, NC 28563
                  Tel: (252) 638-2955
                  Fax: (252) 638-3293
                  Email: davidhaidt@embarqmail.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

A list of the Company's 20 largest unsecured creditors is
available for free at:

          http://bankrupt.com/misc/nceb09-06727.pdf

The petition was signed by the Joint Debtors.


JEFFERSON COUNTY: Alabama House Approves Occupational Tax
---------------------------------------------------------
Martin Z. Braun at Bloomberg reports that Alabama's House of
Representatives approved an occupational tax for virtually broke
Jefferson County by a 17 to 15 vote during a special session
called by Governor Bob Riley.  The bill, which moves to the
Senate, authorizes a 0.45% levy on businesses in the county and a
referendum on the tax in 2012.  If voters reject the levy, it will
be phased out by 2016.

Alabama Governor Bob Riley called lawmakers back for a special
session to deal with the financial crisis in Jefferson County.
Governor Riley said, in a statement, "This special session is
necessary to develop a solution to Jefferson County's financial
crisis, one that threatens not only the future of Jefferson County
but also the economic stability of our entire state."

After state lawmakers failed to agree on a new occupational tax in
May, Jefferson County put more than 900 employees, or about 30% of
its workforce, on unpaid leave, in order to cut costs.  As a
result, according to County Commission President Bettye Fine
Collins, the county's 640,000 residents are enduring long lines
and delays in county services as a result of the cuts.

Bloomberg related that the county's occupational tax problems have
superseded a sewer debt crisis that began last year when interest
rates on $3 billion of sewer debt soared as high as 10% amid Wall
Street's credit crunch.  Banks, including JPMorgan Chase & Co. and
Bank of America Corp., have granted the county forbearance
agreements on its sewer debt.

                    About Jefferson County

Jefferson County has its seat in Birmingham, Alabama.  It has a
population of 660,000.  It ended its 2006 fiscal year with a
$42.6 million general fund balance, according to Standard &
Poor's.  The Birmingham firm of Bradley Arant Rose & White,
represents Jefferson County.  Porter, White & Co. in Birmingham is
the county's financial adviser.  A bankruptcy by Jefferson County
stands to be the largest municipal bankruptcy in U.S. history.  It
could beat the record of $1.7 billion, set by Orange County,
California in 1994.

As reported by the TCR on July 24, 2009, Moody's Investors Service
has affirmed the Caa3 rating and negative outlook on Jefferson
County's (Alabama) outstanding $3.2 billion sewer revenue bonds.
Moody's underlying Caa3 rating reflects the likelihood of eventual
repayment by the county of principal, irrespective of outside
enhancement through bond insurance.  It does not reflect the
claims paying ability of Syncora, which is rated Ca and failed to
fulfill its obligation to make a July 1 Bank Bond principal
payment


JOHN THOMAS: Case Summary & 23 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: John Thomas
        255 LaPaloma, #B
        San Clemente, CA 92672

Bankruptcy Case No.: 09-18283

Chapter 11 Petition Date: August 10, 2009

Court: United States Bankruptcy Court
       Central District of California (Santa Ana)

Judge: Robert N. Kwan

Debtor's Counsel: Marc J. Winthrop, Esq.
                  660 Newport Center Dr, Suite 400
                  Newport Beach, CA 92660
                  Tel: (949) 720-4100
                  Email: pj@winthropcouchot.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $50,000,001 to $100,000,000

A full-text copy of Mr. Thomas' petition, including a list of his
23 largest unsecured creditors, is available for free at:

            http://bankrupt.com/misc/cacb09-18283.pdf

The petition was signed by Mr. Thomas.


JOLINA TEX: Files for Chapter 11 Bankruptcy Protection
------------------------------------------------------
Jolina Tex Mex Kitchen & Barbecue has filed for Chapter 11
bankruptcy protection in the U.S. Bankruptcy Court for the Western
District of North Carolina.

Court documents say that Jolina Tex listed less than $50,000 in
assets and $100,001 and $500,000 in total debts owed to up to 49
creditors.

Jolina Tex Mex Kitchen & Barbecue is a restaurant at 500 S.
College Street.  It is owned by The Restaurant Group, owner of
Fuel Pizza, Nonna Restaurant, and FireHouse Restaurant.


KARLATA INVESTMENTS: Case Summary & 11 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Karlata Investments LLC
        509 Fairway Drive
        Palmdale, CA 93551

Bankruptcy Case No.: 09-20252

Chapter 11 Petition Date: August 11, 2009

Court: United States Bankruptcy Court
       Central District of California (San Fernando Valley)

Judge: Geraldine Mund

Debtor's Counsel: Dean G. Rallis Jr., Esq.
                  Alston & Bird LLP
                  333 S Hope St, 35th Fl
                  Los Angeles, CA 90071
                  Tel: (213) 626-2311
                  Fax: (213) 629-4520
                  Email: drallis@sulmeyerlaw.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

A full-text copy of the Debtor's petition, including a list of its
11 largest unsecured creditors, is available for free at:

             http://bankrupt.com/misc/cacb09-20252.pdf

The petition was signed by Elaine Schnelder.

LEHMAN BROTHERS: NY Court Holds Hearing on Swap Agreement Dispute
-----------------------------------------------------------------
Judge James M. Peck of the U.S. Bankruptcy Court for the Southern
District of New York considered at a hearing August 11, but did
not rule on, a dispute involving two swap agreements related to
Lehman Brothers' Dante program of credit linked notes.

A U.K. Court last month issued a ruling that investors who bought
notes would be paid ahead of Lehman in the unwinding of the Dante
special purpose vehicle, where Lehman was a swap counterparty.
Investors have asserted that they should be paid ahead because
Lehman was in default under the contracts.  According to
Bloomberg, terms of the two Lehman transactions, named Dante after
the entity that issued the notes, specify that investors have
first claim on whatever money is available if Lehman defaults or
goes bankrupt.

Lehman's lawyers, however, have complained that the ruling is
contrary to U.S. bankruptcy law.  U.S. bankruptcy law, Bloomberg
relates, normally protects a debtor company's assets.

Lehman is owed $70 million on the swaps.

The issue -- whether investors could use a written contract to
give themselves priority claims after a bankruptcy -- has not been
tested in the U.S., Bloomberg points out.  Rating agencies could
start to downgrade credit-linked notes if Judge Peck says Lehman
can take away assets protecting the investments, debt reseach firm
CreditSights Inc. said in a July 12 report, according to
Bloomberg.

                      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.

Lehman Brothers 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.  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
U.S. 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 (Case
No. 08-CIV-8119 (GEL)).  James W. Giddens has been appointed as
trustee for the SIPA liquidation of the business of LBI

The Bankruptcy Court has approved Barclays Bank Plc's purchase of
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, purchased LBHI's operations in Europe for $2 dollars plus
the retention of most of employees.  Nomura also bought Lehman's
operations in the Asia Pacific for US$225 million.

               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.  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.
Lehman Brothers Japan Inc. reported about JPY3.4 trillion (US$33
billion) in liabilities in its petition.

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)


LIFE UNIVERSITY: Moody's Holds 'Ba3' Rating on 2008 Revenue Bonds
-----------------------------------------------------------------
Moody's Investors Service has affirmed its Ba3 rating on Life
University's Series 2008 Revenue Bonds issued by the Development
Authority of the City of Marietta.  The rating outlook is stable.

Legal Security: Gross revenue pledge, first mortgage pledge of
University real property and cash funded debt service reserve fund
equal to maximum annual debt service.  Other features include a
rate covenant of 1.20 times.  There is also a Liquidity Covenant
of 80 Days' Cash on Hand beginning with the fiscal year ending
June 30, 2009, as well as a Long-Term Indebtedness Ratio
requirement of at least 0.15 times.  Failure to meet the Liquidity
Covenant and Long-Term Indebtedness Ration requirement for two
consecutive calendar quarters would trigger the University's
commitment to deposit all Revenues in the Revenue Fund on a daily
basis.

Debt-Related Derivative Instruments: None.

                            Challenges

* With the majority of Life's students enrolled in its
  Chiropractic College, the University's market position remains
  narrowly focused; other undergraduate programs in wellness-
  related fields face significant competition from area public and
  private universities.  As a specialty school, the University is
  vulnerable to flux in the demand for chiropractic education and
  related demand for chiropractic services.  The recent
  termination of the Vice President for Enrollment Management
  highlights concerns in achieving budgeted revenue targets in a
  recessionary climate.  The prior Vice President was not
  providing systematic and reliable data regarding indicators of
  student interest.  Management estimates Chiropractic enrollment
  in the 1,485 to 1,490 student range, as compared to a budget of
  1,500 students.

* Based on unaudited results for FY 2009 net tuition revenue
  showed 9.6% growth to $35.4 million, which while strong, was
  well under the budgeted amount of $38.5 million.  Moody's
  believe the broader economic climate may make achieving the
  University's revenue growth targets (as outlined in the August
  2008 Official Statement) more difficult and management has
  adjusted expectations, budgeting for level enrollment for FY
  2010.  Vacancy rates for multi-family housing in the West Cobb
  County submarket of the Atlanta region could soften occupancy
  and pricing power for the planned opening of a 300 bed housing
  facility this fall.  Vacancy rates have been in the 10.7% range
  in 2009 for the submarket.

* Limited balance sheet cushion supporting increased debt burden;
  $10.6 million of expendable financial resources (based on
  unaudited FYE 2009 data) provide limited financial flexibility
  relative to debt (0.15 times) and operations (0.27 times).
  Revenue growth will be crucial to the University's financial
  health, as peak debt service of $6.3 million amounts to 16% of
  draft FY 2009 operating expenses.

* Anemic fundraising record.  Gift revenue was $139,000, well
  below the $4.3 million raised in FY 2004 when the University's
  was under deep stress.  There is a limited history of
  philanthropic support from its community of supporters.  Donor
  support will be important in diversifying the University's
  highly concentrated revenue sources (student charges made up 97%
  of operating revenues in FY 2009) as well as achieving its
  various strategic initiatives.

                             Strengths

* Continued rebound in enrollment following sharp decline in 2003
  related to accreditation issues.  Student market position led by
  Doctor of Chiropractic program, which generated approximately
  86% of net student tuition and fees in FY 2009 based on
  preliminary results.  Full-time equivalent enrollment for the
  fall of 2008 was 2,086, up 14% from the prior year.  Net tuition
  revenue grew 24% in FY 2008 to $32.3 million and increased
  another 9.6% in FY 2009 based on preliminary, unaudited results.

* Increase in fiscal discipline as operating cash flow covered
  debt service by 2.5 times in FY 2008 with a cash flow operating
  margin of 19.5%.

* Credit profile aided by mortgage pledge of property for the
  entire campus located in Marietta, 18 miles northwest of
  downtown Atlanta.  While real estate values have softened in the
  Atlanta metropolitan area, an appraisal dated October 1, 2007
  established a market value of $61.8 million for the 110 acres
  campus and various improvements prior to the recently financed
  improvements.  The appraisal value did not include an estimate
  of the improvements.

* Steady progress in construction and renovation of facilities
  with timely completion of parking and student housing facilities
  expected.  The new facilities should enhance the University's
  attractiveness to students.  A majority of the new facilities
  are expected to generate additional revenue.

* Apart from a $1 million operating line of credit, the
  University's debt is all fixed rate with relatively level debt
  service.

                             Outlook

Moody's stable outlook reflects Moody's expectations of continued
balanced operations, steady rebuilding of enrollment revenues and
completion of the planned projects on time and on budget.

                 What Could Change the Rating UP

Consistently strong cash from operations in support of debt
service, revenue growth, and an increase in revenue diversity,
including diversity of tuition revenue; material financial
resource growth and limited additional debt.

                 What Could Change the Rating DOWN

Enrollment losses leading to further financial instability;
weakening of financial resource levels or operating performance.

Key Data And Ratios (Draft, unaudited fiscal 2009 financial data;
fall 2008 enrollment data):

* Total enrollment: 2,086 full-time equivalent students
* Total pro forma debt: $72.5 million
* Expendable financial resources: $10.6 million
* Expendable resources to pro forma debt: 0.15 times
* Expendable Resources to Operations: 0.27 times
* Net Tuition per Student: $16,969
* Average Operating Margin (3 years): 1.1%
* 2009 Operating Cash Flow Margin: 9.5%
* Average actual debt service coverage: 2.7 times
* MADS to operations: 16%
* Total Revenues: $37.7 million

Rated Debt:

* Series 2008: Ba3

The last rating action was on July 24, 2008, when the rating of
Ba3 with a stable outlook was assigned to the Series 2008 Bonds.


LONE WOLF GENERAL: Case Summary & 15 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Lone Wolf General Partner, LLC
        119 E. Fletcher Street
        Haxtun, CO 80731

Bankruptcy Case No.: 09-26404

Debtor-affiliates filing separate Chapter 11 petitions:

        Entity                                     Case No.
        ------                                     --------
Lone Wolf Operating Company, LP                    09-26405
Lone Wolf Holding Company                          09-26409

Chapter 11 Petition Date: August 11, 2009

Court: United States Bankruptcy Court
       District of Colorado (Denver)

Judge: Michael E. Romero

Debtor's Counsel: Jeffrey S. Brinen, Esq.
                  303 E. 17th Ave., Suite 500
                  Denver, CO 80203
                  Tel: (303) 832-2400
                  Email: jsb@kutnerlaw.com

Estimated Debts: $500,001 to $1,000,000

A list of the Company's 15 largest unsecured creditors is
available for free at:

            http://bankrupt.com/misc/cob09-26404.pdf

The petition was signed by Jim Brundige, manager of the Company.


LYONDELL CHEMICAL: Creditors to Seek Bankruptcy Examiner
--------------------------------------------------------
The official committee of unsecured creditors in Lyondell Chemical
Co.'s Chapter 11 cases intends to file a request for an bankruptcy
examiner.  Carla Main at Bloomberg News reported that the
Creditors Committee told Judge Robert Gerber at a hearing on
August 11 that no draft of Lyondell's reorganization plan has been
exchanged with the Creditors Committee, and there has been no
meeting on it, though it is due in days.  Lyondell's $8 billion
debtor-in-possession loan requires the company to meet the
deadline, a lawyer for the Creditors Committee said, according to
the report.

At the August 11 hearing, Judge Gerber authorized the Debtors to
enter into a loan amendment, which would allow them to pay between
additional amounts to the DIP Lenders due to an alleged mistake
made in drafting the DIP Credit Agreement.  The proposal was
approved over objections by the Creditors Committee, which said
that the payment would be "paradoxical and troubling" given that
Lyondell previously admitted that adequate protection payments to
DIP Lenders were crippling them.  According to Bloomberg, Lyondell
counsel Mark C. Ellenberg, Esq., at Cadwalader, Wickersham & Taft
LLP, in New York, told Judge Gerber that that the cost of
nserting an interest rate floor to the loan would be $5 million to
$6 million.

Judge Gerber also approved Lyondell's plan to pay more than 325
managers as much as $45 million in incentive bonuses.  A union of
steelworkers had objected to the payments.

                      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)


MARKETING WORLDWIDE: June 30 Balance Sheet Upside-Down by $1.9MM
----------------------------------------------------------------
Marketing Worldwide Corporation's balance sheet at June 30, 2009,
showed total assets of $5,577,940 and total liabilities of
$7,482,002 resulting in a stockholders' deficit of $1,904,062.

For three months ended June 30, 2009, the Company posted a net
loss of $439,845 compared with a net loss of $380,024 for the same
period in 2008.

For nine months ended June 30, 2009, the Company posted a net loss
of $2,074,334 compared with a net loss of $821,771 for the same
period in 2008.

As of June 30, 2009, the Company had a working capital deficit of
$1,411,761.

A full-text copy of the Company's Form 10-Q is available for free
at http://ResearchArchives.com/t/s?4179

                    About Marketing Worldwide

Headquartered in Howell, Michigan, Marketing Worldwide Corporation
operates in a niche of the supply chain for new passenger motor
vehicles in the United States, Canada and Europe. It is a designer
and manufacturer of accessories for the customization of cars,
sport utility vehicles and light trucks. The company provides
design services and delivers its products to large global
automobile manufacturers and its Vehicle Processing Centers in the
US, Canada, Mexico and Europe.

                        Going Concern Doubt

As reported in the Troubled Company Reporter on January 21, 2009,
RBSM LLP, in New York, expressed substantial doubt about Marketing
Worldwide Corporation's ability to continue as a going concern.
The firm audited the consolidated balance sheets of Marketing
Worldwide Corporation and its wholly owned subsidiaries as of
September 30, 2008, and 2007 and the related consolidated
statements of operations, deficiency in stockholders' equity and
cash flows for each of the two years in the period ended
September 30, 2008.


MAXXAM INC: Has $10.2-Mil. Q2 Loss; Palco Ch 11 May Have Impact
---------------------------------------------------------------
MAXXAM Inc. (NYSE Amex: MXM) reported a net loss of $10.2 million,
or $2.24 per share loss for the second quarter of 2009, compared
with a net loss of $12.7 million, or $2.78 per share loss, for the
same period of 2008.  Consolidated sales for the three months
ended June 30, 2009 were $18.6 million as compared to $23.3
million for the same period in 2008.  The $4.7 million decline is
primarily attributable to non-recurring lumber sales in 2008, and
the absence of any sales of real estate properties at any of the
Company's real estate developments in 2009.

Real estate sales, which include the Company's commercial lease
properties and resort operations, for the three months ended
June 30, 2009 were $7.4 million, as compared $9.7 million in the
prior year period.  The low level of sales activity that has
continued into 2009 reflects general economic recessions in Puerto
Rico and in the United States.  Operating results for real estate
operations improved from a loss of $1.7 million for the three
months ended June 30, 2008 to operating income of $0.2 million for
the three months ended June 30, 2009.  This overall $1.9 million
improvement reflects the impact of cost reduction initiatives,
among other things.

Total sales for racing operations for the second quarter of 2009
were $11.2 million, as compared to $10.7 million in the prior year
period.  The $0.5 million increase was the result of additional
live racing and increased sponsorship revenues, offset by lower
overall wagering levels.  Operating results for racing operations
improved from a loss of $2.7 million for the three months ended
June 30, 2008 to operating income of $0.5 million for the three
months ended June 30, 2009, primarily reflecting recoveries from
insurers for property damages and business interruption losses of
$3.1 million.

                      Palco Bankruptcy Impact

In January 2007, the Company's wholly owned subsidiary, The
Pacific Lumber Company (Palco) and subsidiaries filed separate
voluntary petitions in the United States Bankruptcy Court for the
Southern District of Texas for reorganization under Chapter 11 of
the Bankruptcy Code.  As a result, the Company deconsolidated the
Debtors' financial results beginning January 19, 2007, and began
reporting its investment in the Debtors using the cost method.

On July 30, 2008, the MRC/Marathon Plan, a plan of reorganization
filed by Palco's principal creditor and a third party and approved
by the Bankruptcy Court, was consummated.  Consummation of the
MRC/Marathon Plan resulted in the loss entirely of the Company's
indirect equity interests in Palco and its subsidiaries, including
Scotia Pacific Company LLC (Scopac); however, various parties have
appealed approval of the MRC/Marathon Plan to the Fifth Circuit.

As a result of uncertainties surrounding the appeal, the Company
has not reversed any portion of its investment in the Debtors.  If
the MRC/Marathon Plan is upheld by the Fifth Circuit, the Company
expects it will reverse all or a significant portion of its
investment in the Debtors during the period in which the Fifth
Circuit renders its decision.  The reversal of the Company's
losses in excess of its investment in the Debtors would have a
material impact on stockholders' deficit (i.e. would result in a
$484.2 million increase to stockholders' equity).  If the Fifth
Circuit overturns the MRC/Marathon Plan or renders an inconclusive
decision, the Company will re-evaluate its position based on the
facts and circumstances at that time.  The Company cannot predict
when the Fifth Circuit will rule or what its decision will be.

The ultimate resolution of the Debtors' bankruptcy cases could
result in claims against and could have adverse impacts on MAXXAM
and its affiliates, including MAXXAM Group Inc., Palco's parent
(MGI).  It is possible that the MRC/Marathon Plan could be
overturned and unwound as a result of the appeal pending before
the Fifth Circuit.  If that occurs, the Company would be required
to return the $2.25 million of cash consideration it received when
the MRC/Marathon Plan was consummated, MGI would be obligated for
certain tax liabilities and the assumption of Palco's pension plan
by a third party would no longer be effective, among other things.
The estimated unfunded termination obligation attributable to
Palco's pension plan as of December 31, 2008, was approximately
$35.0 million based upon annuity placement interest rate
assumptions as of such date.

In addition to the foregoing matters, the consummation of the
MRC/Marathon Plan (or an alternate plan of reorganization filed by
Scopac's principal creditor group, in the event the MRC/Marathon
Plan is overturned upon appeal) is expected to result in the
utilization of a substantial portion of the Company's net
operating losses and other tax attributes for federal income tax
purposes.  Moreover, the MRC/Marathon Plan (and the alternate
plan) provides for litigation trusts, which could bring claims
against the Company and certain of its affiliates.

A copy of the Company's Form 10-Q filed with the SEC is available
for free at http://researcharchives.com/t/s?4182

                       Going Concern Doubt

As reported by the Troubled Company Reporter on April 7, 2009,
Grant Thornton LLP said the uncertainty surrounding the real
estate industry and the ultimate outcome of proceedings involving
MAXXAM Inc.'s former unit, Pacific Lumber Company, and their
effect on the Company, as well as the Company's operating losses
raise substantial doubt about the ability of the Company to
continue as a going concern.

A full-text copy of MAXXAM's quarterly report is available at no
charge at http://ResearchArchives.com/t/s?3cd4

                       About MAXXAM Inc.

Headquartered in Houston, MAXXAM Inc. is a publicly-traded
company, with business interests in forest products, real estate
investment and development and racing operations.


MC HAMMER: Says Amount Owed to IRS Are From 1996 Bankruptcy Filing
------------------------------------------------------------------
Rap star MC Hammer said Wednesday news reports about $625,000 in
back taxes he allegedly owes to the Internal Revenue Service are
from 15 years ago -- from a 1996 bankruptcy filing -- and he is
disputing the sum with the IRS.

"I paid the IRS 100 percent of their claim," said Stanley Burrell,
better known by his rap star moniker MC Hammer. "In the past year
or so, they decided -- wrongly -- that I owed them additional
taxes from 15 years ago.  I am contesting this claim through my
tax attorneys and my case is making its way through the IRS appeal
process.  I hope to be successful."

Hammer said that the alleged past due amount of roughly $625,000
is not related to his current successful business ventures and
have no impact on them.  Hammer owns or works on several
businesses including: Dance Jam, his own record label, production
company, and musical appearances, as well as other ventures.

Hammer is currently being featured on "Hammertime," television
show on the A&E network. http://www.aetv.com/hammertime/ He has
more 1.2 million followers on Twitter http://twitter.com/Mchammer

He said news reports incorrectly give the impression that the
music star is facing new financial issues, but that is not the
case.

"I think the IRS claim is wrong and unfair," he said.  "When there
was a sum of $7 million dollars available, the IRS took the amount
they said was due them.  Now they want to come back for more now
that it's 15 years later?  That's just not right and I'm fighting
that nonsense."


MD MOODY: Can Access Wachovia's Cash Collateral Until August 28
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida
authorized, on an interim basis, M.D. Moody & Sons, Inc., and its
debtor-affiliates to access cash collateral of Wachovia Bank N.A.
until 5:00 p.m. on August 28, 2009.

A final hearing on the Debtors' continued use of cash collateral
set for August 28, 2009, at 11:00 a.m.

The Debtors require the use of proceeds from the sale and rental
of their inventory and equipment to maintain their ongoing
business operations.

The Debtors' inventory, equipment, cash and receivables, excluding
certain equipment and inventory subject to the security interests
of the Debtors' floorplan and term lenders are encumbered by
possible security interests in favor of Wachovia.  Wachovia's
claimed security interests arise pursuant to an Amended and
Restated Loan and Security Agreement dated May 24, 2006.  The
balance owed under the Loan and Security Agreement as of July 24,
2009, was $10,048,012 of which $3,161,425 is allocated to the
Bellinger Property and $6,886,587 is allocated to accounts
receivable and equipment inventory.

In addition to the Loan and Security Agreement, the Debtors are
also indebted to Wachovia's general banking group of $2,760,917.
The loan is secured by a second mortgage on the Bellinger
Property.  The total value of collateral securing the Debtors'
indebtedness to Wachovia is $29,471,238.

As of June 30, 2009, the Debtors also owed approximately
$5,765,554 under their floorplan financing and term loan financing
agreements.

As adequate protection to Wachovia, the Debtors propose that
Wachovia be granted a Chapter 11 administrative expense to the
extent its cash collateral is utilized; and that Wachovia be
granted a lien on the Debtors' postpetition receivables and
inventory in the same priority and to the same extent as its
prepetition liens.  The Debtors also propose that any unperfected
lien on the maritime assets included within the borrowing base be
deemed perfected that any proceeds from the sale of the maritime
assets be considered Wachovia's cash collateral.  And, upon the
sale of equipment, the Debtors propose that Wachovia be repaid the
net amount advanced by the bank on account of any specific item of
equipment, with the Debtors retaining the right to utilize the
difference between the sums advanced and the sales price.

                         Wachovia Objects

Wachovia Bank, N.A., the Debtors' prepetition secured lender,
objects to the Debtors' access to the cash collateral relating
that:

   -- the lack of adequate protection payments and collateral
      reporting from the Debtors renders the Debtors proposal
      insufficient for the use of Wachovia's cash collateral; and

   -- the interim order for no more than two weeks is insufficient
      for parties and any other creditors to evaluate the current
      situation.

The Debtors responded to Wachovia's objection saying that:

    * there are a number of practical and legal problems with the
      bank's proposed order;

    * there was no agreement between the parties as of the payment
      of interest;

    * since the cash collateral motion was filed, the Debtors had
      conflicts with customers and other lenders which necessitate
      additional changes to the Debtors' proposed cash collateral
      order; and

    * it will provide financial reporting to Wachovia consistent
      with prepetition practices.

                   About M.D. Moody & Sons, Inc.

Jacksonville, Florida-based M.D. Moody & Sons, Inc., operates a
construction equipment distributing business.  The Company and its
affiliates filed for Chapter 11 on July 28, 2009 (Bankr. M. D.
Fla. Lead Case No. 09-06247).  Richard R. Thames, Esq., at
Stutsman Thames & Markey, P.A., represents the Debtors in their
restructuring efforts.  The Debtor also selected Keller & Bolz,
LLP, and Blackburn & Company, L.C., as special counsels.  In their
petition, the Debtors said their assets and debts both range from
$10,000,001 to $50,000,000.


MD MOODY: Proposes Thames & Markey as Bankruptcy Counsel
--------------------------------------------------------
M.D. Moody & Sons Inc. and its debtor-affiliates ask the U.S.
Bankruptcy Court for the Middle District of Florida for permission
to employ Thames & Markey P.A. as their bankruptcy counsel to
provide bankruptcy-related services including development and
implantation of a plan of reorganization.

The firm's partners charge $325 per hour and its paralegals bill
$95 per hour.

The Debtors assure the Court that the firm does not represent
materially adverse to the Debtors or their estate.

Jacksonville, Florida-based M.D. Moody & Sons, Inc., operates a
construction equipment distributing business.  The Company and its
affiliates filed for Chapter 11 on July 28, 2009 (Bankr. M. D.
Fla. Lead Case No. 09-06247).  Richard R. Thames, Esq., at
Stutsman Thames & Markey, P.A., represents the Debtors in their
restructuring efforts.  The Debtor also selected Keller & Bolz,
LLP, and Blackburn & Company, L.C., as special counsels.  In their
petition, the Debtors said their assets and debts both range from
$10,000,001 to $50,000,000.


MD MOODY: Wants Schedules Filing Extended Until August 24
---------------------------------------------------------
M.D. Moody & Sons, Inc., and its debtor-affiliates ask the U.S.
Bankruptcy Court for the Middle District of Florida to extend
until August 24, 2009, the time to file their schedules of assets
and liabilities and their statements of financial affairs.

Jacksonville, Florida-based M.D. Moody & Sons, Inc., operates a
construction equipment distributing business.  The Company and its
affiliates filed for Chapter 11 on July 28, 2009 (Bankr. M. D.
Fla. Lead Case No. 09-06247).  Richard R. Thames, Esq. at Stutsman
Thames & Markey, P.A., represents the Debtors in their
restructuring efforts.  The Debtor also selected Keller & Bolz,
LLP, and Blackburn & Company, L.C., as special counsels.  In their
petition, the Debtors said their assets and debts both range from
$10,000,001 to $50,000,000.


MD MOODY: Wants to Sell Crane to I-Quip for $650,000
----------------------------------------------------
M.D. Moody & Sons Inc. and its debtor-affiliates ask the U.S.
Bankruptcy Court for the Middle District of Florida for permission
to sale a 1983 American 9320 CrawlerCrane to I-Quip L.P. for
$650,000, free and clear of liens and encumbrances.

The Debtors say that the crane is among the collateral securing
their prepetition loan and security agreement with Wachovia Bank
N.A. and is thus encumbered by a lien in favor of Wachovia.  Under
the loan and security agreement, Wachovia advanced funds to the
Debtors based on a discounted orderly liquidation value of the
collateral.  With respect to the crane, the net advance amount or
payoff amount is $360,000.

Wachovia, the only lienholder on the crane, has consented to the
sale to I-Quip, the Debtors relate.

The Debtors tell the Court that the approval of the request will
provide a needed cash injection to it and reduce its secured debt
obligations to Wachovia.

Jacksonville, Florida-based M.D. Moody & Sons, Inc., operates a
construction equipment distributing business.  The Company and its
affiliates filed for Chapter 11 on July 28, 2009 (Bankr. M. D.
Fla. Lead Case No. 09-06247).  Richard R. Thames, Esq., at
Stutsman Thames & Markey, P.A., represents the Debtors in their
restructuring efforts.  The Debtor also selected Keller & Bolz,
LLP, and Blackburn & Company, L.C., as special counsels.  In their
petition, the Debtors said their assets and debts both range from
$10,000,001 to $50,000,000.


MEDIACOM LLC: Moody's Assigns 'Ba3' Rating on $200 Mil. Loan D
--------------------------------------------------------------
Moody's Investors Service assigned a Ba3 rating to the proposed
$200 million incremental Term Loan D due 2017 and a B3 rating to
the proposed $300 million issuance of senior unsecured notes due
2019, both by Mediacom LLC, a wholly-owned subsidiary of Mediacom
Communications Corporation (B1 Corporate Family Rating).  On
August 11, 2009 Mediacom announced a cash tender offer for LLC's
existing $500 million of 9.5% notes due 2013 and its $125 million
of 7.875% notes due 2011.  Net proceeds from the new debt
issuances will be used to fund the tender offer and for general
corporate purposes.  Mediacom's solid performance is in line with
Moody's expectation for the B1 Corporate Family Rating.  The
refinancing extends Mediacom's maturity profile and, in Moody's
view, demonstrates prudent balance sheet management.  The LGD
point estimates for Mediacom's individually rated debt securities
have been adjusted to reflect the proforma change in the company's
capitalization.

Assignments:

Issuer: Mediacom LLC

  -- Senior Secured Bank Credit Facility, Assigned Ba3 (LGD3-37%)

  -- Senior Unsecured Regular Bond/Debenture, Assigned B3 (LGD5-
     89%)

The last rating action for Mediacom was on September 9, 2008 when
Moody's affirmed the company's B1 Corporate Family Rating and
Probability of Default Rating.

Mediacom is a domestic cable multiple system operator serving
approximately 1.3 million basic video subscribers in a wide
variety of rural and ex-urban markets.  Mediacom generated
$1.44 billion in revenue over the twelve months ended 6/30/2009.
Mediacom LLC and its sister company Mediacom Broadband LLC are
wholly-owned subsidiaries of Mediacom.  The company maintains its
headquarters in Middletown, New York.


MEDIACOM LLC: S&P Assigns 'B-' Rating on $300 Mil. Senior Notes
---------------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its 'B-'
issue-level and '6' recovery ratings to Middletown, New York-based
Mediacom LLC's proposed $300 million of senior notes due 2019.
S&P also assigned its 'BB-' issue-level and '2' recovery ratings
to Mediacom LLC's proposed $200 million of term loan D due 2017.
At the same time, S&P affirmed all ratings, including the 'B+'
corporate credit rating, on parent Mediacom Communications Corp.,
a cable TV operator.  The outlook is stable.

The term loan D is being issued under the company's existing
credit facility.  The '2' recovery rating indicates expectations
for substantial (70%-90%) recovery in the event of a payment
default.  The '6' recovery rating indicates expectations for
negligible (0%-10%) recovery in the event of a payment default.
The proceeds from the two proposed new issues are to be used to
tender for up to $500 million of the outstanding 9.5% senior notes
due 2013 and the 7.875% senior notes due 2011, both at Mediacom
LLC, and for general corporate purposes.  Both existing notes are
callable at par.  The ratings are based on preliminary
documentation and are subject to review of final documents.
Mediacom LLC is a wholly owned subsidiary of Mediacom
Communications Corp.

"The ratings on Mediacom reflect an aggressive financial profile
and a mature core basic video services business with modest
revenue growth prospects," said Standard & Poor's credit analyst
Naveen Sarma.  Other factors include below-industry-average high-
speed data and telephony penetration and competitive pressures on
both the video customer base from direct-to-home satellite TV
providers and HSD customers from telephone companies.  Partly
tempering these factors are the company's position as the still-
dominant provider of pay-TV services in its markets, expectations
for limited video competition from the local telephone operators,
and solid liquidity due to availability of substantial bank
financing.  Mediacom, which services about 1.3 million basic video
subscribers, has $3.4 billion of debt, pro forma for the
transaction.


MEGA MEDIA: Files for Chapter 11 Bankruptcy Protection
------------------------------------------------------
Mega Media Group, Inc., has filed for Chapter 11 bankruptcy
protection in the U.S. Bankruptcy Court for the Eastern District
of New York, listing $180,000 in assets and $3,564,061 in debts.

According to Radio Online, frequency owner Island Broadcasting
reportedly put an "up for sale" sign with a price tag of
$15 million on Mega Media.

Radio Online relates that Mega Media sought listener's assistance
in raising cash a couple of weeks back, but then raised $70,000 in
new funding, far short of the debt owed.  The report says that
Island Broadcasting has lost confidence in Mega Media and are
convinced that the station won't be able to recover and pay off
debt.  According to the report, Island Broadcasting CEO Dick
Bogner has given Mega Media until the end of August before
creditors close down the station, despite a 10-year lease on the
facility.

Mega Media Group, Inc., and its debtor-affiliate, Echo
Broadcasting Group Feller, is based in Brooklyn, New York.  They
operate the Rhythmic WNYZ-LP.


METALDYNE CORP: Court OKs Sale of Assets to Carlyle Group
---------------------------------------------------------
According to reporting by Linda Sandler at Bloomberg News, the
U.S. Bankruptcy Court for the Southern District of New York has
approved the sale of substantially all assets of Metaldyne Corp.
to Carlyle Group.

Bloomberg relates that the price includes $39.5 million in cash,
about $32 million in assumed obligations and $425 million in
secured debt mostly owned by the group backed by Carlyle and New
York-based Solus Alternative Asset Management LP,

MD Investors Corporation won an August 6 auction for Metaldyne's
assets.  The sale would involve Metaldyne's powertrain, balance
shaft module, tubular products, and chassis units.

MD Investors is a new company formed by a coalition of Metaldyne's
existing term lenders led by The Carlyle Group, a well-respected
private equity firm, and Solus Alternative Asset Management LP, an
SEC-registered investment advisor.

Under the terms of the parties' asset purchase agreement, MD
Investors will purchase the following assets:

  -- All of Metaldyne's Sintered Products, European Forgings and
     Vibration Controls Products operations located in Europe,
     Asia, Brazil, Mexico, and the United States

  -- Plants in Bluffton, Ind.; Litchfield, Mich., and, subject to
     Certain conditions, Twinsburg, Ohio

  -- Metaldyne's balance shaft module operations, which are
     located at Metaldyne's plants in Fremont, Ind., and
     Pyeongtaek, Korea

  -- Metaldyne's tubular products operations housed at Metaldyne's
     Hamburg, Mich., plant, which produces fabricated exhaust
     manifolds and other tube-formed products

  -- Metaldyne's' chassis operations in Edon, Ohio; Barcelona,
     Spain, Iztapalapa, Mexico, and subject to certain conditions,
     operations in Greensboro, N.C.

                 About Metaldyne Corporation

Headquartered in Plymouth, Michigan, Metaldyne Corporation --
http://www.metaldyne.com/-- is a wholly owned subsidiary of Asahi
Tec, a Shizuoka, Japan-based chassis and powertrain component
supplier in the passenger car/light truck and medium/heavy truck
segments.  Asahi Tec is listed on the Tokyo Stock Exchange.
Metaldyne is a global designer and supplier of metal based
components, assemblies and modules for transportation related
powertrain and chassis applications including engine,
transmission/transfer case, wheel end, and suspension, axle and
driveline, and noise and vibration control products to the motor
vehicle industry.

On January 11, 2007, in connection with a plan of merger, Asahi
Tee Corporation in Japan acquired the shares of Metaldyne.  On the
same date, Asahi Tee contributed those shares to Metaldyne
Holdings, and Asahi Tee thereby became the indirect parent of
Metaldyne and its other units.  RHJ International S.A. of Belgium
now holds approximately 60.1% of the outstanding capital stock of
Asahi Tec.

The Company owns 23 different properties, including 14 domestic
manufacturing facilities in six states, and more than 10
manufacturing facilities North America, Europe, South America and
Asia.

Metaldyne Corporation aka MascoTech, Inc., aka MascoTech Harbor,
Inc., Riverside Acquisition Corporation and Metaldyne Subsidiary
Inc. and its affiliates filed for Chapter 11 on May 27, 2009
(Bankr. S.D.N.Y. Lead Case No. 09-13412).  The filing did not
include the company's non-U.S. entities or operations.  Richard H.
Engman, Esq., at Jones Day represents the Debtors in their
restructuring efforts.  Judy A. O'Neill, Esq., at Foley & Lardner
LLP serves as conflicts counsel; Lazard Freres & Co. LLC and
AlixPartners LLP as financial advisors; and BMC Group Inc. as
claims agent.  For the fiscal year ended March 29, 2009, the
company recorded annual revenues of approximately US$1.32 billion.
As of March 29, 2009, utilizing book values, the company had
assets of approximately US$977 million and liabilities of
US$927 million.


MHG CASA: Chapter 11 Filing Delays Foreclosure Auction
------------------------------------------------------
Jim Staats at Marin Independent Journal reports that MHG Casa
Madrona has filed for Chapter 11 bankruptcy protection in the U.S.
Bankruptcy Court in Santa Rosa, delaying a foreclosure auction on
its Casa Madrona Hotel & Spa in Sausalito until October 6 or until
the Court allows it to go forward.

According to Marin Independent, Casa Madrona was taken over by the
Federal Deposit Insurance Corp. this year when owners defaulted on
their loan, causing a bank in Georgia to fail.  Marin Independent
states that the unpaid loan balance is more than $24 million.

Marin Independent says that the FDIC had an asset management firm
settle unpaid hotel taxes with Sausalito and a Texas-based hotel
management firm was installed to supervise day-to-day operations.

Tracy Green assists MHG Casa in its restructuring efforts, Marin
Independent states.

A court spokesperson said that a meeting of creditors has been set
for September 4 with a trustee assigned to the case, Marin
Independent reports.

MHG Casa Madrona is based in Miami, Florida.  Its 63-room hotel,
Casa Madrona Hotel & Spa in Sausalito, is in the center of the
city on Bridgeway and Bulkley Avenue and includes a 3,000-square-
foot spa and 5,000 square feet of event space.


MHG CASA: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------
Debtor: MHG Casa Madrona Hotel, LLC
        8370 W. Flagler Street
        Miami, FL 33144-2078

Case No.: 09-12536

Type of Business: The Debtor operates a lodging business.

Chapter 11 Petition Date: August 10, 2009

Court: United States Bankruptcy Court
       Northern District of California (Santa Rosa)

Judge: Alan Jaroslovsky

Debtor's Counsel: Tracy Green, Esq.
            Wendel, Rosen, Black and Dean
            1111 Broadway 24th Fl.
            P.O. Box 2047
            Oakland, CA 94607
            Tel: (510) 834-6600
            Email: tgreen@wendel.com

Estimated Assets: $10,000,001 to $50,000,000

Estimated Debts: $10,000,001 to $50,000,000

The petition was signed by Guy Mitchell, the company's president.

Debtor's List of 20 Largest Unsecured Creditors:

  Entity                  Nature of Claim        Claim Amount
  ------                  ---------------        ------------
AIU Holdings                                     $28,065

American International                           $5,012
Companies

Bay City Refuse Service                          $3,947

City of Sausalito                                $170,826

Copy Pro                                         $5,061

Fishman Supply CO                                $4,862

Gardere Wynne Sewell LLP                         $4,130

Home Depot Credit Services                       $6,022

Jonhson Controls                                 $1,433

Konica Minolta Business                          $2,412
SOL

Lato Supply Corporation                          $5,362

Merchant Services                                $2,956

Pitney Bowes                                     $3,568

Prestige Media                                   $3,000

Smith Travel Research                            $2,600
Inc.

Talents Plus Inc                                 $2,106

The West Paces Hotel                             $16,781
Group, LLC

Tomas B. Zeisel                                  $3,750

United Health Care                               $7,885

Virtual Agent Services                           $6,088
Inc.


MIRABILIS VENTURES: Sending Plan to Creditors for Voting
--------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida
approved on August 4, 2009, the amended joint disclosure statement
and addendum to the amended joint disclosure statement explaining
Mirabilis Ventures, Inc., et al.'s plan of liquidation.

The Court has set a confirmation hearing for September 16, 2009,
at 2:00 p.m.  The deadline for submission of ballots and
objections to confirmation will be no later than seven days before
the date of the confirmation hearing.

                     Summary of Plan Terms

Allowed unsecured claims will receive their pro rata distribution
of payment from the Liquidated Debtors after the allowed priority
claims have been paid in full.  Equity interests will be
cancelled.

The Plan provides for the liquidation of all of the Debtors'
assets and the cessation of its business.

Recoveries for creditors will come from the income generated from
the liquidation of the Debtors' assets on the petition date, the
proceeds from litigation, the proceeds from settlements, and
payments made on promissory notes currently held by the Debtors.
The Debtors say it is unable to provide an estimate of timing or
amounts of recoveries to unsecured creditors because recovery of
the various litigations, which includes some large, successful
corporations, is uncertain.

The Debtors' only assets are its cash on hand, its causes of
action and the promissory notes.  Proceeds of all causes of action
and all proceeds from the promissory notes will be held in a
Liquidated Trust Account created by the Liquidated Debtors.

A full-text copy of the amended joint disclosure statement
explaining the Debtors' plan of liquidation is available for free
at http://bankrupt.com/misc/mirabilis.ds.pdf

                     About Mirabilis Ventures

Orlando, Florida-based Mirabilis Ventures Inc. is a private equity
company, which acquired companies companies that has a strategic
fit into its unique business model.  The Company and two of its
affiliates, filed for Chapter 11 protection on May 27, 2008
(Bankr. M.D. Fla. Lead Case No. 08-04327).  Elizabeth A. Green,
Esq., and Jimmy D. Parish, Esq., at Latham Shuker Eden & Beaudine
LLP, represents the Debtors in their restructuring efforts.  When
the Debtors filed for protection from their creditors, they listed
between $50 million and $100 million each in assets and debts.


NEWMARKET CORPORATION: Moody's Gives Pos. Outlook on 'Ba2' Rating
-----------------------------------------------------------------
Moody's Investors Service changed NewMarket Corporation's rating
outlook to positive from stable and affirmed the Corporate Family
Rating and Probability of Default Rating at Ba2 as well as the Ba3
rating on its $150 million senior unsecured notes due 2016.  The
positive outlook reflects the continued improvement in the
company's credit profile and strong operating results for its
rating category resulting from raw material cost declines and
increased prices, despite lower volumes.

The move to a positive outlook reflects Moody's expectation that
NewMarket will maintain strong credit metrics and positive free
cash flow despite the current economic downturn and will not take
on significant leverage to fund acquisitions.  Despite
experiencing a decline in sales as a result of the economic
downturn and customer inventory destocking, NewMarket has improved
its margins in 2009 as raw materials costs declined.  It is
expected that NewMarket will continue to benefit from decreased
oil prices and the relative stability of its end markets over the
near-term.  Additionally, the positive outlook reflects the
company's solid liquidity position, which is a function of its
cash balance, strong operating cash flows, and undrawn revolving
credit facility.

Should NewMarket demonstrate sustained performance at these levels
over the next six to eighteen months, and successfully refinance
the Foundry Park I construction loan, Moody's would consider
raising the CFR.  An upgrade would also depend on the company
refinancing its real estate construction loan well before the
August 2010 maturity, although the company may have the liquidity
resources to repay the loan with cash balances and unused
availability under its revolving credit facility.

The ratings reflect NewMarket's consistent and strong operating
performance in spite of the current economic conditions, modest
leverage for the rating category, strong credit metrics and solid
liquidity.  The company's Debt-to-EBITDA ratio has declined from
3.0x for 2004 to 2.1x for the LTM ended June 30, 2009, as the
increase in EBITDA generated has more than offset the additional
debt taken on to fund the Foundry Park I real estate venture.
Pressure to the rating comes from the company's narrow product
portfolio, exposure to volatile raw material and energy costs,
lack of vertical integration, and participation in an industry
with large competitors with access to much greater financial
resources.

These summarizes the ratings:

Ratings affirmed:

NewMarket Corporation

* Corporate family rating -- Ba2

* Probability of default rating -- Ba2

* $150mm guaranteed senior unsecured notes due 2016 -- Ba3 (LGD4,
  65%) from Ba3 (LGD5, 79%)

Moody's last rating action for NewMarket was on December 19, 2007,
when Moody's upgraded NewMarket's CFR to Ba2 from Ba3, and the
rating on its senior notes to Ba3 from B1, after improvement in
its operating performance and credit metrics.

NewMarket, through its Afton Chemical subsidiary, develops,
manufactures and markets petroleum additives.  Petroleum additives
include: lubricant additives used in engine oils, transmission
fluids, gear oils, hydraulic oils and turbine oils to enhance wear
protection and prevent deposits; and fuel additives that improve
the performance of fuels.  NewMarket had revenues of $1.5 billion
for the LTM ended June 30, 2009.


NORTEL NETWORKS: Ex-CEO Zafirovski Becomes Creditor
---------------------------------------------------
Nortel Networks CEO Michael Zafirovski resigned from his post
effective August 10, as the Company is completing the sale of its
assets while in bankruptcy.  Nortel said Mr. Zafirovski, should he
decide to join other employees seeking severance payments and lost
portions of pension and other compensation, must wait until the
end of the insolvency proceedings to determine how much he would
be paid, the Ottawa Citizen said.  According to the newspaper,
based on the current value of Nortel bonds, other creditors expect
to get 45 cents on the dollar.

His potential payout, however, would be far fatter than the checks
others will receive, according to the Ottawa Citizen.  Mr.
Zafirovski was paid $1.29 million in salary annually and was
eligible for a bonus of up 150% of his pay, plus stock options and
restricted stock.

                      About Nortel Networks

Headquartered in Ontario, Canada, Nortel Networks Corporation
(NYSE/TSX: NT) -- http://www.nortel.com/-- delivers next-
generation technologies, for both service provider and enterprise
networks, support multimedia and business-critical applications.
Nortel does business in more than 150 countries around the world.
Nortel Networks Limited is the principal direct operating
subsidiary of Nortel Networks Corporation.

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

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

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

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

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

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

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


NOVELOS THERAPEUTICS: June 30 Balance Sheet Upside-Down by $25MM
----------------------------------------------------------------
Novelos Therapeutics, Inc.'s balance sheet at June 30, 2009,
showed total assets of $4,655,078 and total liabilities of
$29,988,660, resulting in a stockholders' deficit of $25,333,582.

For three months ended June 30, 2009, the Company posted a net
loss of $4,856,352 compared with a net loss of $4,676,638 for the
same period in 2008.

For six months ended June 30, 2009, the Company posted a net loss
of $6,669,797 compared with a net loss of $11,777,734 for the same
period in 2008.

As of June 30, 2009, the Company had $4,493,000 in cash and
equivalents.

A full-text copy of the Company's Form 10-Q is available for free
at http://ResearchArchives.com/t/s?4176

On March 17, 2009, Stowe & Degon LLC in Westborough, Massachusetts
expressed substantial doubt about Novelos Therapeutics Inc.'s
ability to continue as a going concern after auditing the
Company's financial statements for the fiscal year ended
December 31, 2008, and 2007.  The auditor noted that the Company
has incurred continuing losses in the development of its products
and has a stockholders' deficiency at December 31, 2008.

                    About Novelos Therapeutics

Headquartered in Newton, Massachusetts, Novelos Therapeutics Inc.
(OTC BB: NVLT) -- http://www.novelos.com/-- is a
biopharmaceutical company commercializing oxidized glutathione-
based compounds for the treatment of cancer and hepatitis.  NOV-
002, the lead compound currently in Phase 3 development for lung
cancer under a Special Protocol Assessment (SPA) and Fast Track,
acts together with chemotherapy as a chemoprotectant and an
immunomodulator.  NOV-002 is also in Phase 2 development for
chemotherapy-resistant ovarian cancer and early-stage breast
cancer.

Novelos Therapeutics Inc.'s consolidated balance sheet at
June 30, 2008, showed $5,753,832 in total assets, $8,238,837 in
total liabilities, and $13,904,100 in redeemable preferred stock,
resulting in a $16,839,105 total stockholders' deficit.

At June 30, 2008, the company's consolidated balance sheet also
showed strained liquidity with $5,699,642 in total current assets
available to pay $8,238,837 in total current liabilities.  The
company reported a net loss of $4,676,638, on revenue of $45,676
for the second quarter ended June 30, 2008.


NOVELOS THERAPEUTICS: Posts $4.8 Million Net Loss for June 30 Qtr
-----------------------------------------------------------------
Novelos Therapeutics, Inc., reported a net loss of $4,856,352 for
the three months ended June 30, 2009, from a net loss of
$4,676,638 for the same period a year ago.  The Company recorded a
net loss of $6,669,797 for the six months ended June 30, 2009,
from a net loss of $11,777,734 for the same period last year.

As of June 30, 2009, the Company had $4,655,078 in total assets;
and $7,899,318 in total current liabilities, $416,667 in deferred
revenue - noncurrent, and $21,672,675 in Series E convertible
preferred stock; resulting in $25,333,582 in stockholders'
deficiency.

A full-text copy of the Company's report on Form 10-Q is available
at no charge at http://ResearchArchives.com/t/s?4176

Novelos Therapeutics, Inc., is a drug development company focused
on the development of therapeutics for the treatment of cancer and
hepatitis.  Novelos owns exclusive worldwide intellectual property
rights -- excluding Russia and other states of the former Soviet
Union -- related to certain clinical compounds and other pre-
clinical compounds based on oxidized glutathione.

Novelos' independent registered public accounting firm has
indicated that factors exist that raise substantial doubt about
Novelos' ability to continue as a going concern.  Novelos believes
that funds at June 30, 2009, will allow it to continue operations
at budgeted levels into late 2009.  The primary endpoint of
Novelos' Phase 3 clinical trial in non-small cell lung cancer is
increased median overall survival, to be measured following the
occurrence of 725 events (deaths).  Novelos anticipates that the
results from this trial will be available in early 2010.  Novelos
said its ability to execute its operating plan beyond late 2009 is
dependent on its ability to obtain additional capital (including
through the sale of equity and debt securities at any time and by
entering into collaborative arrangements for licensing rights in
North America, which is not likely to occur before 2010) to fund
development activities.  Novelos plans to pursue alternatives
during 2009, but there can be no assurance that Novelos will
obtain the additional capital necessary to fund business beyond
late 2009.  The timing and content of the Phase 3 clinical trial
results may affect Novelos' projected cash requirements and its
ability to obtain capital.  Furthermore, continuing adverse
conditions in the capital markets globally may impair Novelos'
ability to obtain funding in a timely manner.  Novelos is
continuously evaluating measures to further reduce costs to
preserve existing capital.  If Novelos is unable to obtain
sufficient additional funding, it will be required, beginning in
late 2009, to scale back administrative activities and clinical
development programs, including the Phase 3 clinical development
of its lead drug candidate, NOV-002, or it may have to cease
operations entirely.


PACIFIC ETHANOL: Reports $28.27-Mil. Net Loss in 2nd Quarter
------------------------------------------------------------
Pacific Ethanol, Inc., has filed to the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q for the
period ended June 30, 2009.

As of June 30, 2009, Pacific Ethanol reported $559.41 million in
total assets, $361.78 in total liabilities, and $197.64 in total
stockholders' equity.

Pacific Ethanol said, "As a result of ethanol industry conditions
that have negatively affected our business and ongoing financial
difficulties, we believe we have sufficient liquidity to meet our
anticipated working capital, debt service and other liquidity
needs only through the end of August 2009, provided Kinergy's
lender continues to make available its credit facility, despite an
existing default, and Lyles United, LLC, and Lyles Mechanical Co.
do not pursue an action against us due to our default on aggregate
indebtedness of $31,500,000 owed to those entities.  Accordingly,
there continues to be substantial doubt as to our ability to
continue as a going concern.  We are seeking a confirmed plan of
reorganization and seeking to restructure our indebtedness, and
raise additional debt or equity financing, or both, but there can
be no assurance that we will be successful.  If we cannot confirm
a plan of reorganization, restructure our indebtedness and raise
sufficient capital in a timely manner, we may need to seek further
protection under the U.S. Bankruptcy Code, including at the
parent-company level."

     Results for Quarter, and Six Months Ended June 30, 2009

Pacific Ethanol reported $28.27 million net loss in the three
months ended June 30, 2009, compared to $6.35 million net loss in
the same period last year.  For the six months ended June 30,
2009, Pacific Ethanol reported $54.00 million net loss, compared
to $89.90 million net loss in the same period last year.

Cost of Goods Sold and Gross Profit (Loss)

"Our gross margin declined to a negative 11.2% for the three
months ended June 30, 2009 from a positive gross margin of 0.2%
for the same period in 2008 due to increased costs to manage the
facilities in relation to the volume produced, particularly as it
relates to our three facilities not producing ethanol but still
incurring maintenance costs and depreciation expense.  Total
depreciation for the three months ended June 30, 2009 was
approximately $8,263,000, as compared to approximately $5,949,000
for the same period in 2008.  In addition, due to necessary
adjustments to our Columbia facility's production activities, the
facility was not running as efficiently as it had been in the
three months ended June 30, 2008," the Company said.

Pacific Ethanol's gross margin declined to a negative 12.1% for
the six months ended June 30, 2009, from a positive gross margin
of 4.5% for the same period in 2008 due to increased costs to
manage the facilities in relation to the volume produced,
particularly as it relates to the Company's three facilities not
producing ethanol but still incurring maintenance costs and
depreciation expense.  Total depreciation for the six months ended
June 30, 2009, was approximately $16,657,000, as compared to
approximately $10,128,000 for the same period in 2008.

Selling, General and Administrative Expenses

Pacific Ethanol stated, "Our selling, general and administrative
expenses, or SG&A, decreased in absolute dollars, but increased as
a percentage of net sales for the three months ended June 30,
2009.  SG&A decreased by $1,424,000 to $6,254,000 for the three
months ended June 30, 2009 as compared to SG&A of $7,678,000 for
the same period in 2008."  The decrease in the dollar amount of
SG&A is primarily due to these factors:

     -- payroll and benefits decreased by $1,695,000 due to a
        reduction in employees, primarily near the end of the
        first quarter of 2009, as the Company reduced the number
        of administrative positions due to reduced production and
        related support needs;

     -- derivative commissions decreased by $449,000 due to
        significant trades made during the three months ended
        June 30, 2008, that did not recur in the same period in
        2009;

     -- non-cash compensation decreased by $428,000 due also to a
        reduction in the number of employees; and

     -- travel expenses decreased by $238,000 due to the cessation
        of the Company's construction-related activities.

These items were partially offset by:

     -- professional fees increased by $1,626,000 due to our
        restructuring efforts that have resulted in the Chapter 11
        Filings.  These costs were incurred through the date of
        the Chapter 11 Filings on May 17, 2009.  All future
        professional fees associated with the Chapter 11 Filings
        will be recorded as reorganization costs.

SG&A decreased in absolute dollars, but also increased as a
percentage of net sales for the six months ended June 30, 2009.
SG&A decreased by $3,616,000 to $13,928,000 for the six months
ended June 30, 2009, as compared to SG&A of $17,544,000 for the
same period in 2008.  The decrease in SG&A is primarily due to
these factors:


     -- payroll and benefits decreased by $1,824,000 due to a
        reduction in employees;

     -- derivative commissions decreased by $1,403,000; and

     -- travel expenses decreased by $555,000.

These items were partially offset by:

     -- professional fees increased by $666,000 due to the
        Company's restructuring efforts.

Other Income (Expense), net

Other income (expense), net decreased by $5,623,000 to a net
expense of $4,734,000 for the three months ended June 30, 2009,
from income of $889,000 for the same period in 2008.  The decrease
is primarily due to these factors:

     -- increased interest expense of $2,666,000, as the Company
        ceased capitalizing interest associated with the Company's
        plant construction program and all four facilities were
        fully accruing interest up through the date of the Chapter
        11 Filings, and after that, only for interest that is
        probable to be repaid thereafter as part of a plan of
        reorganization; and

     -- decreased other income of $2,665,000 due to reduced sales
        from 2008 of the Company's business energy tax credits
        sold as pass through investments.

Other income (expense), net decreased by $10,295,000 to a net
expense of $11,705,000 for the six months ended June 30, 2009,
from $1,410,000 for the same period in 2008.  The decrease is
primarily due to these factors:

     -- increased interest expense of $9,145,000;

     -- decreased sales of business energy tax credits of
        $6,760,000; and

     -- increased bank fees of $671,000 associated with the
        Company's debt restructuring efforts during the period.

These items were partially offset by decreased mark-to-market
losses of $5,492,000 from the Company's interest rate hedges, as
the Company recorded significant losses during the three months
ended March 31, 2008, related to ineffectiveness of interest rate
swaps associated with the Company's ceased construction of its
Imperial Valley facility.


Net income (loss) attributed to noncontrolling interest in
variable interest entity relates to the consolidated treatment of
Front Range, a variable interest entity, and represents the
noncontrolling interest of others in the earnings of Front Range.

"We consolidate the entire income statement of Front Range for the
periods covered.  However, because we only own 42% of Front Range,
we must reduce our net income or increase our net loss for the
noncontrolling interest, which is the 58% ownership interest that
we do not own.  For the three months ended June 30, 2009, this
amount decreased by $2,890,000 from the same period in 2008 due to
fluctuations in net income (loss) of Front Range.  For the six
months ended June 30, 2009, this amount decreased by $43,730,000
from the same period in 2008, primarily due to goodwill impairment
associated with amounts recorded in the original acquisition of
our interests in Front Range," Pacific Ethanol said.

The Company's financial statements are available at:

               http://ResearchArchives.com/t/s?4180

                    About Pacific Ethanol, Inc.

Pacific Ethanol is the largest West Coast-based marketer and
producer of ethanol.  Pacific Ethanol has ethanol plants in Madera
and Stockton, California; Boardman, Oregon; and Burley, Idaho.
Pacific Ethanol also owns a 42% interest in Front Range Energy,
LLC which owns an ethanol plant in Windsor, Colorado.  Pacific
Ethanol has achieved its goal of 220 million gallons per year of
ethanol production capacity in 2008.  In addition, Pacific Ethanol
is working to identify and develop other renewable fuel
technologies, such as cellulose-based ethanol production and
bio-diesel.

Five indirect wholly owned subsidiaries of Pacific Ethanol, Inc.
-- Pacific Ethanol Holding Co. LLC, Pacific Ethanol Madera LLC,
Pacific Ethanol Columbia, LLC, Pacific Ethanol Stockton, LLC and
Pacific Ethanol Magic Valley, LLC -- commenced a case by filing a
voluntary petition for relief under Chapter 11 of the Bankruptcy
Code before the United States Bankruptcy Court for the District of
Delaware on May 17, 2009.

Pacific Ethanol Holding Co. LLC and four affiliates filed for
Chapter 11 on May 17, 2009 (Bankr. D. Del. Case No. 09-11713).
Judge Kevin Gross handles the case.  Attorneys at Cooley Godward
Kronish LLP represent the Debtors as counsel.  Attorneys at Potter
Anderson & Corroon LLP are co-counsel.  Epiq Bankruptcy Solutions
LLC is the claims agent.  Pacific Ethanol Holding disclosed
$50 million to $100 million in assets and $100 million to
$500 million in debts in its petition.

Pacific Ethanol Inc. and its marketing subsidiaries, Kinergy
Marketing LLC, and Pacific Ag. Products, LLC, have not filed for
Chapter 11 bankruptcy protection.  The Company is expected to
continue to manage the Plant Subsidiaries under an Asset
Management Agreement and Kinergy and PAP are expected to continue
to market and sell the Plant Subsidiaries' ethanol and feed
production under existing Marketing Agreements.


PARK AVENUE: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: Park Avenue Radiologists, P.C.
        525 Park Avenue
        New York, NY 10065
        Tax ID / EIN: 13-3628017

Bankruptcy Case No.: 09-14929

Debtor-affiliates filing separate Chapter 11 petitions:

        Entity                                     Case No.
        ------                                     --------
Imaging Services Company of NY, LLC                09-14930
MLLH Realty Corp                                   09-14931

Chapter 11 Petition Date: August 11, 2009

Court: United States Bankruptcy Court
       Southern District of New York (Manhattan)

Judge: Martin Glenn

Debtor's Counsel: Arnold Mitchell Greene, Esq.
                  Robinson Brog Leinwand Greene
                  Genovese & Gluck, P.C.
                  1345 Avenue of the Americas, 31st Floor
                  New York, NY 10105
                  Tel: (212) 586-4050
                  Fax: (212) 956-2164
                  Email: amg@robinsonbrog.com

The Debtor did not file a list of its 20 largest unsecured
creditors when it filed its petition.

The petition was signed by Albert V. Messina, president of the
Company.


PHELPS BROTHERS: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Phelps Brothers Inc.
        120 Crocket Street
        Covington, IN 47932

Bankruptcy Case No.: 09-40723

Chapter 11 Petition Date: August 11, 2009

Court: United States Bankruptcy Court
       Northern District of Indiana
      (Hammond Division at Lafayette)

Debtor's Counsel: David A. Rosenthal, Esq.
                  410 Main Street
                  Lafayette, IN 47901
                  Tel: (765) 423-5375
                  Fax: (765) 423-2597
                  Email: darlaw@nlci.com

Total Assets: $781,101

Total Debts: $2,508,129

A full-text copy of the Debtor's petition, including a list of its
20 largest unsecured creditors, is available for free at:

            http://bankrupt.com/misc/innb09-40723.pdf

The petition was signed by Curtis Phelps, secretary of the
Company.


PHILADELPHIA NEWSPAPERS: Hopes $35MM in New Funding to Settle Debt
------------------------------------------------------------------
Maryclaire Dale at The Associated Press reports that Philadelphia
Newspapers LLC hopes to use $35 million in new capital to settle
its almost $400 million debts and emerge from bankruptcy.

Philadelphia Newspapers' lawyer, Larry McMichael, said that the
Company hopes to raise $35 million in new money from current
investor Bruce Toll, the housing mogul, and others, and use the
money to try to settle those debts, The AP relates.  Mr.
McMichael, the report states, said that the plan would leave the
Company with no more than $35 million in remaining debt, including
$25 million in exit costs related to the bankruptcy.

An opposing creditors' plan would leave the papers saddled with up
to $85 million in debt, The AP says, citing Mr. McMichael.
According to The AP, Mr. McMichael said that the secured
creditors' plan would leave Philadelphia Newspapers with about
$60 million in remaining debt plus the $25 million in exit costs.
According to The AP, Mr. McMichael said that The Philadelphia
Inquirer and Philadelphia Daily News would be hard-pressed to
survive under that plan.

The AP states that Mr. McMichael offered basics of the competing
reorganization plans after a hearing on Tuesday, but neither has
been filed, and Chief U.S. Bankruptcy Judge Stephen Raslavich has
chided various parties involved in the case for offering
"untenable" options to resolve the Company's finances, which Mr.
McMichael described as "under water."  The report quoted Judge
Raslavich as saying, "To one degree or another, everyone involved
. . . is overplaying their hand."  The judge ordered the Company,
creditors, and the union representing writers and photographers to
stop bluffing or risk having The Inquirer and The Daily News fold,
the report says.

Philadelphia Newspapers, according to The AP, has until August 31
to file its reorganization plan, the same day its contract expires
with the guild that represents writers, photographers, and
advertising staff.

The AP relates that Fred Hodara, the secured creditors' lawyer,
said that his group wants to begin talks with the unions so it can
"hit the ground running" if it gains control of the newspapers.

The next hearing is set for August 18, The AP reports.

Philadelphia Newspapers -- http://www.philly.com/-- owns and
operate numerous print and online publications in the Philadelphia
market, including the Philadelphia Inquirer, the Philadelphia
Daily News, several community newspapers, the region's number one
local Web site, philly.com, and a number of related online
products.  The Company's flagship publications are the Inquirer,
the third oldest newspaper in the country and the winner of
numerous Pulitzer Prizes and other journalistic recognitions, and
the Daily News.

Philadelphia Newspapers and its debtor-affiliates filed for
Chapter 11 bankruptcy protection on February 22, 2008 (Bankr. E.D.
Pa. Case No. 09-11204).  Proskauer Rose LLP is the Debtors'
bankruptcy counsel, while Lawrence G. McMichael, Esq., at Dilworth
Paxson LLP is the local counsel.  The Debtors' financial advisor
is Jefferies & Company Inc.  The Debtors listed assets and debts
of $100 million to $500 million.


PLAINFIELD APARTMENTS: Bankruptcy Halts Foreclosure Action
----------------------------------------------------------
Mark Spivey at MyCentralJersey.com reports that Plainfield
Apartments LLC filed for Chapter 11 bankruptcy, after Spencer
Savings Bank filed almost two months ago a foreclosure motion
against all nine of the Company's properties.

According to MyCentralJersey.com, Connolly Properties' properties
include all of the apartment buildings or complexes that were
packaged together for a March 3, 2003, group sale between former
city landlord Fred Tedesco and David M. Connolly, the president
and CEO of Connolly Properties Inc., which manages the city
apartment entities.  The report says that those entities total 290
housing units and include:

     -- Columbia Apartments at 128 E. Seventh Street,
     -- East Front Street Towers,
     -- 9-23 Madison Avenue Apartments,
     -- Cleveland Apartments on East Seventh Street,
     -- Town & Country on West Seventh Street,
     -- Franklin Arms on Franklin Place,
     -- Joyce Gardens on Clinton Avenue,
     -- Apex Apartments on Crescent Avenue, and
     -- Viola's Place on Crescent Avenue.

MyCentralJersey.com states that Spencer Savings Bank filed in the
state Superior Court in Elizabeth on June 23 a motion to foreclose
on Plainfield Apartments holdings.  Court documents say that
Plainfield Apartments in May 2007 received a $17 million loan for
its nine buildings, with a final due date of June 1, 2017.
Monthly installments of interest were due from July 1, 2007,
through June 1, 2009, with monthly installments of principal plus
interest commencing July 1, 2009, and continuing thereafter.

On April 1, 2009, Plainfield Apartments failed to make its
scheduled monthly payment.  No further payments had been made as
of the foreclosure filing, court documents states.
MyCentralJersey.com relates that Spencer Savings then demanded
that the $17 million balance of the loan, plus interest, be due
immediately.

According to MyCentralJersey.com, the Plainfield Apartments
foreclosure filing demanded that payment of the loan balance be
made even if it requires that "said lands be sold according to law
to satisfy the amount due to the Plaintiff."

MyCentralJersey.com reports that Spencer Savings' lawyer, Vincent
J. Massa, said that his clients were preparing to request rent
receivers, or interim landlords, for the city buildings when the
foreclosure proceedings were suspended by the bankruptcy filing.

Plainfield Apartments, LLC, is a real estate company based in
Plainfield, New Jersey.  It filed for Chapter 11 on August 7
(Bankr. D. N.J. Case No. 09-30679).  Richard D. Trenk, Esq., at
Trenk, DiPasquale, Webster, Della Fera & Sodono, P.C., assists the
Company in its restructuring efforts.  The Company listed
$14,181,853 in assets and $17,587,846 in debts.

An affiliate, Fulton-Harrison LLC, filed for protection in the
same court on July 29 (Case No. 09-29666).


PRICE PROMENADE: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: Price Promenade, LLC
        980 N Federal Highway, Suite 216
        Boca Raton, FL 33432

Bankruptcy Case No.: 09-26665

Chapter 11 Petition Date: August 11, 2009

Court: United States Bankruptcy Court
       Southern District of Florida (West Palm Beach)

Judge: Paul G. Hyman, Jr.

Debtor's Counsel: Donald N. Jacobson, Esq.
                  POB 1425
                  West Palm Beach, FL 33402
                  Tel: (561) 835-8436
                  Email: donald@dnjlaw.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

The Debtor did not file a list of its 20 largest unsecured
creditors when it filed its petition.

The petition was signed by Mark Geissler.


PROLIANCE INT'L: PBGC Moves to Protect Underfunded Pensions
-----------------------------------------------------------
The Pension Benefit Guaranty Corporation will take responsibility
for underfunded pension plans covering more than 1,620 workers and
retirees of Proliance International Inc., an auto parts maker
based in New Haven, Conn.

The agency's move comes ahead of a series of asset sales while the
company operates under Chapter 11 bankruptcy protection.  If the
PBGC delayed action until after the sales close, no entity would
remain to finance or administer the plans, and the possibility of
recovering on the agency's claims for unfunded pension liabilities
would be severely diminished.

On July 2, 2009, Proliance and its three U.S. subsidiaries filed
for Chapter 11 protection in the U.S. Bankruptcy Court in
Wilmington, Del.  The company designs, manufactures, and markets
automotive heating and cooling components and systems throughout
North and Central America and Europe.

The company's underfunded plans are: the Proliance International
Inc.  Bargaining Unit Pension Plan and the Proliance International
Inc. Pension Plan.  Collectively, the plans are 54 percent funded
with assets of $20 million to cover benefit liabilities of
$37 million, according to PBGC estimates.  The agency expects to
be responsible for the entire $17 million shortfall.

The PBGC will take over the assets and use insurance funds to pay
guaranteed benefits earned under the pension plans, which end on
Aug. 12, 2009.  Retirees and beneficiaries will continue to
receive their monthly benefit checks without interruption, and
other participants will receive their pensions when they are
eligible to retire.

After the agency becomes trustee, notification letters will be
sent to all participants in the Proliance pension plans.  Under
provisions of the Pension Protection Act of 2006, the maximum
guaranteed pension the PBGC can pay is determined by the legal
limits in force on the date of the plan sponsor's bankruptcy.
Therefore participants in this pension plan are subject to the
limits in effect on July 2, 2009, which set a maximum guaranteed
amount of $54,000 a year for a 65-year-old.

The maximum guaranteed amount is lower for those who retire
earlier or elect survivor benefits.  In addition, certain early
retirement subsidies and benefit increases made within the past
five years may not be fully guaranteed.

Workers and retirees with questions may consult the PBGC Web site,
http://www.pbgc.govor call toll-free at 1-800-400-7242.  For
TTY/TDD users, call the federal relay service toll-free at
1-800-877-8339 and ask for 800-400-7242.

Retirees of Proliance who draw a benefit from the PBGC may be
eligible for the federal Health Coverage Tax Credit.  Further
information may be found on the PBGC Web site at:

http://www.pbgc.gov/workers-retirees/benefits-
information/content/page13692.html

Assumption of the plan's unfunded liabilities will increase the
PBGC's claims by $17 million and was not previously included in
the agency's fiscal year 2008 financial statements.

The PBGC is a federal corporation created under the ERISA. It
currently guarantees payment of basic pension benefits earned by
44 million American workers and retirees participating in over
29,000 private-sector defined benefit pension plans. The agency
receives no funds from general tax revenues. Operations are
financed largely by insurance premiums paid by companies that
sponsor pension plans and by investment returns.


QUICKSILVER RESOURCES: Moody's Puts 'B2' Rating on $250 Mil. Notes
------------------------------------------------------------------
Moody's Investors Service assigned a B2 rating to Quicksilver
Resources Inc.'s proposed offering of $250 million of senior
unsecured notes.  Moody's also affirmed the B1 Corporate Family
Rating, the B2 ratings on the company's existing senior unsecured
notes, and the B3 senior subordinated notes rating.  The
Speculative Grade Liquidity Rating is SGL-3 and the outlook
continues to be negative.

"The announced senior notes offering will term out revolver
borrowings and better position Quicksilver for its borrowing base
redetermination later this year," commented Pete Speer, Moody's
Vice-President.  "However, the company still has high leverage on
its predominantly natural gas production base, particularly in
light of current natural gas prices."

Given low natural gas spot prices and the weak price outlook, this
term out of revolver borrowings will improve the company's
financial flexibility.  The company had approximately $770 million
drawn on its $1.125 billion borrowing base senior secured credit
facility at June 30, 2009, so this will significantly increase the
availability under the borrowing base.  The borrowing base could
be somewhat reduced by the notes offering, and a full
redetermination of the borrowing base is expected to be completed
by November 1, 2009, which could also lower the availability on
the credit facility.

Quicksilver expects to limit capital expenditures to within cash
flow for the remainder of 2009.  However, the company has yet to
demonstrate its ability to live within cash flow so far this year
and the proportion of production hedged is much lower in 2010,
particularly after considering that the company effectively sold
some of its hedge position to ENI for $47 million as part of the
Alliance sale.  Therefore Moody's have held the liquidity rating
at SGL-3.

In the absence of a significant strengthening of natural gas
prices, the ratings could be downgraded if Quicksilver does not
further reduce debt by at least $200 million via asset sales or an
equity offering, or if the production response to the lower level
of capital spending is worse than anticipated.  The outlook could
be returned to stable if the company achieves meaningful debt
reduction and can internally fund a sustaining level of capital
expenditures without the reliance on hedging gains.

The B2 rating for the existing and proposed senior unsecured notes
reflects both the overall probability of default of Quicksilver,
to which Moody's assigns a PDR of B1, and a loss given default of
LGD4 (62% changed from 67%).  The B3 rating for the $350 million
senior subordinated notes reflects the B1 PDR and a loss given
default of LGD6 (91%).  The size of the senior secured revolving
credit facility is large enough to result in a single notching of
the senior unsecured notes and a double notching of the
subordinated notes under Moody's Loss Given Default Methodology.

The last rating action was on June 17, 2009, when Moody's assigned
a B2 rating to Quicksilver's $600 million of senior unsecured
notes.

Quicksilver Resources, Inc., is an independent exploration and
production company headquartered in Fort Worth, Texas.


QUICKSILVER RESOURCES: S&P Assigns 'B' Rating on $250 Mil. Notes
----------------------------------------------------------------
Standard & Poor's Ratings Services assigned an issue-level and
a recovery rating to Quicksilver Resources Inc.'s proposed
$250 million senior unsecured notes due 2019.  The issue-level
rating is 'B' (one notch below the corporate credit rating).  At
the same time, S&P assigned a recovery rating of '5', indicating
S&P's expectation of modest (10%-30%) recovery in the event of a
payment default.

"Our recovery analysis incorporates the proposed notes offering
and the expected reduction in the company's borrowing base as a
result of the note offering," said Standard & Poor's credit
analyst Amy Eddy.

The Fort Worth, Texas-based natural gas and crude oil exploration
and production company intends to use proceeds to pay down debt
outstanding under its revolving credit facility.  Pro forma for
the notes issuance, S&P expects Quicksilver to have approximately
$519 million available under a $1.05 billion borrowing base
revolving credit facility due 2012.

Our corporate credit rating on Quicksilver is 'B+', and the
outlook is stable.

                           Ratings List

                    Quicksilver Resources Inc.

       Corporate Credit Rating                 B+/Stable/--

                         Ratings Assigned

                     Quicksilver Resources Inc.

             $250 Mil. Sr Unsec Notes Due 2019      B
              Recovery Rating                       5


QWEST COMMUNICATIONS: S&P Affirms 'BB' Corporate Credit Rating
--------------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its ratings on
Denver-based Qwest Communications International Inc. and
subsidiaries, including the 'BB' corporate credit rating, but
revised the outlook to negative from stable.

"The outlook revision reflects continued material net access-line
losses in Qwest's mass market and wholesale sectors as customers
are lost to wireless substitution or switch to cable telephony,"
said Standard & Poor's credit analyst Richard Siderman.  Over the
past 12 months ended June 30, 2009, Qwest's consumer primary line
segment experienced a 12.1% loss of access lines contributing to a
10.7% loss of total access lines.  While a 0.6% increase in
business sector revenue and an uptick in broadband connections
cushioned the effect of these line losses somewhat, overall
revenues for the second quarter of 2009 fell 6% year over year,
adjusted for the transition of wireless from a multiple vendor
network operator (MVNO) arrangement to a reseller model.


RAINBOW 215: Files List of 20 Largest Unsecured Creditors
---------------------------------------------------------
Rainbow 215 LLC delivered to the U.S. Bankruptcy Court for the
District of Nevada a list of 20 largest unsecured creditors.
Among others, Platinunm Construction Group of Las Vegas, Nevada,
asserted $425,029 in claims against the Debtor.

A full-text copy of the Debtor's list of 20 largest unsecured
creditors is available for free at

               http://ResearchArchives.com/t/s?417e

The Company filed for Chapter 11 on July 27, 2009 (Bankr. D. Nev.
Case No. 09-23414).  David Mincin, Esq., at Law Offices Of Richard
Mcknight, P.C., serves as counsel.  A court filing says it has
assets of $16,883,500 against debts of $11,327,730.


RAINBOW 215: U.S. Trustee Sets Meeting of Creditors for Sept. 3
---------------------------------------------------------------
The U.S. Trustee for Region 17 will convene a meeting of creditors
in Rainbow 215, LLC's Chapter 11 case on September 3, 2009, at
1:00 p.m.  The meeting will be held at 300 Las Vegas Blvd., South,
Room 1500, Las Vegas, Nevada.

This is the first meeting of creditors required under Section
341(a) of the Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
Meeting of Creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

Las Vegas, Nevada-based Rainbow 215, LLC, filed for Chapter 11 on
July 27, 2009 (Bankr. D. Nev. Case No. 09-23414).  David Mincin,
Esq., at Law Offices Of Richard Mcknight, P.C., represents the
Debtor in its restructuring efforts.  The Debtor did not file a
list of its 20 largest unsecured creditors when it filed its
petition.  In its petition, the Debtor listed total assets of
$16,883,500 and total debts of $11,327,730.


RED MOUNTAIN MACHINERY: Voluntary Chapter 11 Case Summary
---------------------------------------------------------
Debtor: Red Mountain Machinery Company
           dba Red Mountain Holdings, LLC
           dba Red Mountain Pacific, LLC
           dba BTH, LLC
        197 E. Warner Road
        Chandler, AZ 85225

Case No.: 09-19166

Debtor-affiliate filing separate Chapter 11 petition:

        Entity                                     Case No.
        ------                                     --------
Red Mountain Holdings, LLC                         09-19170

Chapter 11 Petition Date: August 11, 2009

Court: United States Bankruptcy Court
       District of Arizona (Phoenix)

Judge: Randolph J. Haines

Debtor's Counsel: Steven N. Berger, Esq.
                  Engelman Berger, P.C.
                  One Columbus Plaza, Suite 700
                  3636 N Central Avenue
                  Phoenix, AZ 85012-1985
                  Tel: (602) 271-9090
                  Fax: (602) 222-4999
                  Email: snb@engelmanberger.com

Estimated Assets: $10,000,001 to $50,000,000

Estimated Debts: $10,000,001 to $50,000,000

The Debtor did not file a list of its 20 largest unsecured
creditors when it filed its petition.


REGINA PAVONE: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: Regina M. Pavone
           dba Energia Latina
           dba Ole'Ole'
           dba Energia Latina
           dba Ole 'Ole'
           dba 5413 N Clark, LLC
        1107 W. Pratt Blvd.
        Chicago, IL 60626

Bankruptcy Case No.: 09-29343

Chapter 11 Petition Date: August 11, 2009

Court: United States Bankruptcy Court
       Northern District of Illinois (Chicago)

Judge: Susan Pierson

Debtor's Counsel: J Kevin Benjamin, Esq.
                  Benjamin Legal Services, P.L.C.
                  343 W. Erie Street, Suite 320
                  Chicago, IL 60654-5735
                  Tel: (312) 853-3100
                  Fax: (312) 577-1707
                  Email: jkb@blsplc.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

The Debtor did not file a list of its 20 largest unsecured
creditors when it filed its petition.

The petition was signed by Ms. Pavone.


ROCKY MOUNTAIN: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Rocky Mountain Enterprises, Inc.
        6515 County Road H
        Athens, WI 54411

Bankruptcy Case No.: 09-15374

Chapter 11 Petition Date: August 11, 2009

Court: United States Bankruptcy Court
       Western District of Wisconsin
       http://www.wiw.uscourts.gov(Eau Claire)

Judge: Thomas S. Utschig

Debtor's Counsel: Jerome R. Kerkman, Esq.
                  Kerkman & Dunn
                  757 N. Broadway, Suite 300
                  Milwaukee, WI 53202
                  Email: jkerkman@kerkmandunn.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $50,000,001 to $100,000,000

A full-text copy of the Debtor's petition, including a list of its
20 largest unsecured creditors, is available for free at:

            http://bankrupt.com/misc/wiwb09-15374.pdf

The petition was signed by Edward D. Trapp, CEO of the Company.


SAINT VINCENT: July Post-Confirmation Status Report
---------------------------------------------------
Saint Vincent's Catholic Medical Centers of New York, doing
business as Saint Vincent Catholic Medical Centers, and its
debtor affiliates delivered to the U.S. Bankruptcy Court for the
Southern District of New York their Ninth Post-Confirmation
Status Report on July 16, 2009, to apprise Judge Cecelia Morris
of the progress of the actions the Post-Effective Date Debtors
have undertaken since the submission of their April 15, 2009
Post-Confirmation Report with respect to the confirmation of
their First Amended Chapter 11 Plan of Reorganization.

                      Claims Resolution

As of July 16, 2009, more than 3,300 proofs of claim have been
filed in the Debtors' cases, of which the Debtors have
undertaken, and are undertaking, a comprehensive review and
reconciliation.

Andrew M. Troop, Esq., at Cadwalader, Wickersham & Taft LLP, in
New York, reported that the Debtors have filed 19 omnibus
objections to approximately 1,500 proofs of claim, certain of
which they have sought to disallow and expunge, reduce, and
reclassify.  The Debtors have filed objections to certain claims
on an individual basis, and have resolved a number of claims by
stipulations or settlements, which previously have been approved
by the Court.

Pursuant to the Plan, the Debtors are authorized to resolve
disputed claims without further Court order.  The Plan provides
for the liquidation of medical malpractice claims as to their
amounts in accordance with non-bankruptcy law, which, in certain
instances, may require approval of a state court, Mr. Troop
noted.

Mr. Troop disclosed that as of July 16, 2009, four claims have
been allowed, totaling $467,723, and four have been disallowed
totaling $231,450.

                  Distributions under the Plan

Mr. Troop disclosed that the Debtors have made $41,200
distributions to unsecured creditors since the Eight Status
Report was filed.

         About Saint Vincent Catholic Medical Centers

Saint Vincent Catholic Medical Centers -- http://www.svcmc.org/--
is anchored by St. Vincent's Hospital Manhattan, an academic
medical center located in Greenwich Village and the only emergency
room on the Westside of Manhattan from Midtown to Tribeca, St.
Vincent's Westchester, a behavioral health hospital in Westchester
County, and continuing care services that include two skilled
nursing facilities in Brooklyn, another on Staten Island, a
hospice, and a home health agency serving the Metropolitan New
York area.  Its behavioral health services also provide supportive
housing programs for people with mental illness throughout the
Metropolitan area.  Saint Vincent's is the designated provider for
the New York and New Jersey region of the US Family Health Plan
sponsored by the US Department of Defense.

Saint Vincent's serves as the academic medical center of New York
Medical College in New York City. The healthcare organization is
sponsored by the Roman Catholic Bishop of Brooklyn and the
president of the Sisters of Charity of New York.

Saint Vincent Catholic Medical Centers of New York and six of its
affiliates filed for chapter 11 protection on July 5, 2005 (Bankr.
S.D.N.Y. Case No. 05-14945 through 05-14951).  Gary Ravert, Esq.,
and Stephen B. Selbst, Esq., at McDermott Will & Emery, LLP, filed
the Debtors' Chapter 11 cases.  On September 12, 2005, John J.
Rapisardi, Esq., at Weil, Gotshal & Manges LLP took over
representing the Debtors in their restructuring efforts.  Martin
G. Bunin, Esq., at Thelen Reid & Priest LLP, represented the
Official Committee of Unsecured Creditors.  As of April 30, 2005,
the Debtors listed $972 million in total assets and $1 billion in
total debts.  The Court confirmed the Debtors' Chapter 11 plan on
July 27, 2007.

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


SAINT VINCENT: Litigation Trustee Settles With McDermott
--------------------------------------------------------
Gray & Associates, LLC, as Litigation Trustee of the SVCMC
Litigation Trust, filed an action in the New York State Supreme
Court asserting claims against McDermott Will & Emery, LLP, and
several other parties for breach of fiduciary duty, legal
malpractice, attorney misconduct, fraudulent concealment, aiding
and abetting breaches of fiduciary duty, and aiding and abetting
fraud.

MWE has consistently maintained that it is fully prepared to
refute the claims levied against it in State Court Action and
show that it faithfully and skillfully represented the Saint
Vincent Catholic Medical Centers enterprise at all times.

The Litigation Trustee and MWE have engaged in extensive
negotiations regarding the Adversary Proceeding, which
negotiations have led to a proposed settlement agreement between
MWE and the Litigation Trustee.  The Litigation Trustee believes
that the Settlement Agreement is in the best interests of the
Litigation Trust and its stakeholders.  The Trust Governing
Board, which was appointed fiduciary for beneficiaries of the
Litigation Trust, has also approved the Settlement Agreement.

Accordingly, at the Litigation Trustee's request, the Court
approved the Settlement Agreement.  Prior to the approval of the
Settlement Agreement, the Litigation Trustee sought and obtained
from the Court an order to file the Confidential Settlement
Agreement under seal.

One of the terms of the Settlement Agreement is that the
settlement remains confidential and be filed under seal with the
Bankruptcy Court; provided that the Litigation Trustee and its
counsel may disclose information regarding the Settlement
Agreement necessary to fulfill the Litigation Trustee's duties as
trustee of the Litigation Trust, and as otherwise required by
law.

Pursuant to the terms of the Settlement Agreement, the Parties
wish to compromise and resolve the claims against the McDermott
Defendants without any admission of liability by any of the
McDermott Defendants.  Indeed, despite entering into the proposed
Confidential Settlement Agreement, the McDermott Defendants
continue to deny the claims and maintain that they are fully
prepared to refute the claims levied against them in the New York
Action.

The primary terms of the Settlement Agreement are:

  (a) The McDermott Defendants will pay cash to the Litigation
      Trustee after the Order approving the Settlement becomes
      final and non-appealable.

  (b) The Litigation Trustee will file a stipulation and order
      of dismissal with prejudice in the New York Action,
      thereby completely terminating the dispute between the
      Litigation Trustee and the McDermott Defendants.

  (c) The Litigation Trustee and the McDermott Defendants will
      provide each other and certain related parties releases
      of claims against the Litigation Trustee and the
      McDermott Defendants that exist as of the date of the
      Settlement Agreement.  The Litigation Trustee and the
      McDermott Defendants will also provide releases to certain
      related parties and insurers for claims that arise out of
      or relate to the New York Action; provided that the
      Litigation Trustee and the McDermott Defendants do not
      release or discharge, and expressly reserve, all claims
      against any person or entity not specified in the
      releases, including all defendants in a case currently
      pending in the Supreme Court of the State of New York, New
      York County, Index No. 150446/2007, Gray & Associates, LLC
      v. Speltz & Weis LLC, et al.  The releases, together with
      the contemplated dismissal, completely terminate the
      dispute between the Litigation Trustee and the McDermott
      Defendants.

  (d) The Litigation Trustee agrees that any judgment entered in
      its favor in the S&W Action will be reduced by the greater
      of (i) the amount of the settlement payment, or (ii) the
      amount of the McDermott Defendants' contributive share
      under Article 14 of New York's Civil Practice Law and
      Rules of the damages, if any, awarded in the S&W Action.
      The Litigation Trustee and the McDermott Defendants have
      also agreed on certain procedures and matters relating to
      a judgment or settlement of the S&W Action.

  (e) The McDermott Defendants will cooperate with the
      Litigation Trustee in certain defined ways with respect of
      the Litigation Trustee's prosecution of the S&W Action.

  (f) The Settlement Agreement will not be construed as an
      admission of liability by any of the McDermott Defendants.

Although the Litigation Trustee believes it would prevail against
the McDermott Defendants in a civil action, the Litigation
Trustee recognizes the uncertainties associated with, and the
potentially protracted nature of, litigating the complex issues
as those relating to the fiduciary duties owed by the McDermott
Defendants to the Debtors, the McDermott Defendants' alleged
negligence in representing the Debtors, the fraud the McDermott
Defendants allegedly perpetrated on the Debtors, the application
of any defenses the McDermott Defendants may assert, and valuing
damages before a jury.  Additionally, discovery costs and expert
witness fees are greatly minimized by the Settlement, and any
recovery by way of judgment would be many months or years away,
the Litigation Trustee relates.

G. Richard Gray, managing director of Gray & Associates, filed a
declaration in support of the Motion to approve Confidential
Settlement Agreement.

          About Saint Vincent Catholic Medical Centers

Saint Vincent Catholic Medical Centers -- http://www.svcmc.org/--
is anchored by St. Vincent's Hospital Manhattan, an academic
medical center located in Greenwich Village and the only emergency
room on the Westside of Manhattan from Midtown to Tribeca, St.
Vincent's Westchester, a behavioral health hospital in Westchester
County, and continuing care services that include two skilled
nursing facilities in Brooklyn, another on Staten Island, a
hospice, and a home health agency serving the Metropolitan New
York area.  Its behavioral health services also provide supportive
housing programs for people with mental illness throughout the
Metropolitan area.  Saint Vincent's is the designated provider for
the New York and New Jersey region of the US Family Health Plan
sponsored by the US Department of Defense.

Saint Vincent's serves as the academic medical center of New York
Medical College in New York City. The healthcare organization is
sponsored by the Roman Catholic Bishop of Brooklyn and the
president of the Sisters of Charity of New York.

Saint Vincent Catholic Medical Centers of New York and six of its
affiliates filed for chapter 11 protection on July 5, 2005 (Bankr.
S.D.N.Y. Case No. 05-14945 through 05-14951).  Gary Ravert, Esq.,
and Stephen B. Selbst, Esq., at McDermott Will & Emery, LLP, filed
the Debtors' Chapter 11 cases.  On September 12, 2005, John J.
Rapisardi, Esq., at Weil, Gotshal & Manges LLP took over
representing the Debtors in their restructuring efforts.  Martin
G. Bunin, Esq., at Thelen Reid & Priest LLP, represented the
Official Committee of Unsecured Creditors.  As of April 30, 2005,
the Debtors listed $972 million in total assets and $1 billion in
total debts.  The Court confirmed the Debtors' Chapter 11 plan on
July 27, 2007.

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


SAINT VINCENT: Sells 2 Bayley Seton Lots for $7.6 Million
---------------------------------------------------------
Saint Vincent's Catholic Medical Centers of New York, doing
business as Saint Vincent Catholic Medical Centers, and its
debtor affiliates sought and obtained from the Court authority to
sell Tax Lots 25 and 40 of the Bayley Seton Campus in Staten
Island, New York to The Salvation Army for $7,662,242, free and
clear of the liens, claims and interest.

Bayley Seton, established in the 1830s, was a 198-bed hospital
sponsored by the Sisters of Charity Health Care System Nursing
Home, Inc.  The Bayley Seton Campus was an approximately 21-acre
lot comprised of 14 buildings and a parking lot.  The SEA
operates a 72-bed neuro-behavioral rehabilitation program in
"Building #1" on a leasehold basis.  The SEA main building is
located directly adjacent to the Bayley Seton Campus.

The portion of the Bayley Seton Campus is the lone remaining
property that was to be sold and disposed under the First Amended
Joint Plan of Reorganization.  Pursuant to the Plan, the net
proceeds generated by the sale of the Bayley Seton Campus were to
be utilized in connection with the payment of allowed claims,
including the allowed unsecured claims against the Debtors, which
were secured by liens in collateral of the Debtors.

While the Debtors would normally have preferred to proceed with a
Court-approved public auction, certain use restrictions on the
Bayley Seton Campus made its sale through public auction
impractical and highly unlikely to generate greater value for the
Debtors' estates than a private sale.

In a declaration prepared by Arthur Y. Webb, chief operating
officer of Saint Vincent's Catholic Medical Centers of New York,
he relates that the Debtors engaged Cushman & Wakefield in 2004
to market the property.  Cushman & Wakefield obtained expressions
of interest from several potential purchasers, none of which
would make firm offer.

In January 2006, The Salvation Army approached SVCMC about
acquiring a portion of the Bayley Seton Campus to develop
community center known as the "Kroc Center."

Accordingly, The Salvation Army has agreed to purchase Tax Lots
25 and 40.  The Salvation Army is buying Tax Lots 25 and 40 in
their "as is" condition and state of repair as of the contract,
reasonable wear and tear and work performed by on or behalf of
the Purchaser excepted and without any representation or warranty
being made by Seller.  Tax Lots 24 and 40 are being sold subject
to certain Permitted Encumbrances, which are usual and customary
"title" exceptions, to be identified in the contract.

The Debtors must obtain approval of a special use permit from the
New York City Department of Buildings and obtain approval of the
sale from the Court for the closing of the sale to occur.  All
documents relating to the sale must have been executed and
delivered in to escrow pending the issuance of the special use
permit.  Upon issuance of the permit, The Salvation Army will
also deliver the Purchase Price into escrow, to be held pending
the approval of the proposed sale by the Court.

A full-text copy of the Contract for Sale with The Salvation Army
is available for free at:

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

Pursuant to Section 1146(a), the sale and conveyance of Tax Lots
25 and 40 to The Salvation Army will be exempt from any state and
local stamp or similar taxes and the making, delivery, or
recordation of any instruments to evidence the sale and transfer
will not be subject to transfer, recordation, stamp or similar
tax imposed by a taxing authority.

         About Saint Vincent Catholic Medical Centers

Saint Vincent Catholic Medical Centers -- http://www.svcmc.org/--
is anchored by St. Vincent's Hospital Manhattan, an academic
medical center located in Greenwich Village and the only emergency
room on the Westside of Manhattan from Midtown to Tribeca, St.
Vincent's Westchester, a behavioral health hospital in Westchester
County, and continuing care services that include two skilled
nursing facilities in Brooklyn, another on Staten Island, a
hospice, and a home health agency serving the Metropolitan New
York area.  Its behavioral health services also provide supportive
housing programs for people with mental illness throughout the
Metropolitan area.  Saint Vincent's is the designated provider for
the New York and New Jersey region of the US Family Health Plan
sponsored by the US Department of Defense.

Saint Vincent's serves as the academic medical center of New York
Medical College in New York City. The healthcare organization is
sponsored by the Roman Catholic Bishop of Brooklyn and the
president of the Sisters of Charity of New York.

Saint Vincent Catholic Medical Centers of New York and six of its
affiliates filed for chapter 11 protection on July 5, 2005 (Bankr.
S.D.N.Y. Case No. 05-14945 through 05-14951).  Gary Ravert, Esq.,
and Stephen B. Selbst, Esq., at McDermott Will & Emery, LLP, filed
the Debtors' Chapter 11 cases.  On September 12, 2005, John J.
Rapisardi, Esq., at Weil, Gotshal & Manges LLP took over
representing the Debtors in their restructuring efforts.  Martin
G. Bunin, Esq., at Thelen Reid & Priest LLP, represented the
Official Committee of Unsecured Creditors.  As of April 30, 2005,
the Debtors listed $972 million in total assets and $1 billion in
total debts.  The Court confirmed the Debtors' Chapter 11 plan on
July 27, 2007.

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


SGS INTERNATIONAL: S&P Gives Stable Outlook; Affirms 'B+' Rating
----------------------------------------------------------------
Standard & Poor's Ratings Services revised its rating outlook on
Louisville, Kentucky-headquartered SGS International Inc. to
stable from negative.  Ratings on the company, including the 'B+'
corporate credit rating, were affirmed.

The outlook revision follows the release of the company's second-
quarter operating results and S&P's expectation that the company
will continue to have the flexibility to repay debt, thereby
increasing the cushion relative to financial covenant measures.
Previously S&P were concerned that the step-down in the company's
total leverage covenant, as well as S&P's expectation for a low-
single-digit decline in revenue and EBITDA, could potentially
cause the company to violate this measure at the time of step-down
in the first quarter of 2010.  Given the company's repurchase of
$25.5 million of its 12% senior subordinated notes during the
first quarter, and a low-single-digit increase in EBITDA during
the first-half of 2009, the company's cushion relative to its
total leverage threshold has improved relative to S&P's
expectations cited earlier in the year.  Based on S&P's
expectation for free cash flow generation throughout the remainder
of the year, as well as management's specified commitment for
reducing debt levels, S&P expects that all excess cash flow will
be used to repay the company's term debt and revolver borrowings,
further increasing the cushion relative to covenant measures.

For the quarter ended June 30, 2009, the company reported total
leverage (according to the credit agreement covenant calculation)
of 4.86x (relative to a maximum covenant requirement of 5.25x) and
S&P expects that this measure will improve to about 4.3x by the
end of the year, providing adequate cushion against the threshold
when it steps down to 5.0x at March 2010.  Fully adjusted debt to
EBITDA (according to S&P's calculation) was about 5.5x for the 12
months ended June 30, 2009.  This level is in line with the 'B+'
rating.

While long-term customer relationships have provided for general
stability in operating trends over time, growth in operating
performance has been largely attributable to acquisitions and the
consolidation of operations.  Based on S&P's expectation that
management will depart from its characteristic acquisitive
business strategy and instead focus on debt repayment, S&P expects
only modest levels of growth in revenue and EBITDA in 2010.
Still, the company maintains adequate liquidity and generates
sufficient free cash flow to provide the flexibility for continued
debt repayment.

"The 'B+' corporate credit rating reflects the company's highly
leveraged financial profile and its niche market position in a
highly fragmented industry," said Standard & Poor's credit analyst
Michael Listner.

The company has a broad customer base, with longstanding
relationships governed by multiple-year service contracts and high
retention rates.  Graphic services for consumer packaged products
constitute the majority of the firm's revenues, with the food and
beverage industry representing the largest portion of business,
followed by other key markets, including tobacco, personal care,
household products, pet food, and pharmaceuticals.  Given the
nondiscretionary nature of most of the product categories for
which SGS provides printing services, the company has benefited
from customer demand that has been fairly stable over time.
However, as SGS's customer base primarily comprises large consumer
product companies, pricing pressure is always a concern.


SHAFER DEVELOPMENT: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Shafer Development, LLC
        5000 -18 Highway 17 # 149
        Orange Park, FL 32003

Bankruptcy Case No.: 09-06728

Chapter 11 Petition Date: August 11, 2009

Court: United States Bankruptcy Court
       Middle District of Florida (Jacksonville)

Debtor's Counsel: Brett A. Mearkle, Esq.
                  Mickler & Mickler
                  5452 Arlington, Expressway
                  Jacksonville, FL 32211
                  Tel: (904) 725-0822
                  Fax: (904) 725-0855
                  Email: court@planlaw.com

Estimated Assets: $500,001 to $1,000,000

Estimated Debts: $1,000,001 to $10,000,000

A full-text copy of the Debtor's petition, including a list of its
20 largest unsecured creditors, is available for free at:

            http://bankrupt.com/misc/flmb09-06728.pdf

The petition was signed by Howard Shane Shafer, managing member of
the Company.


SMURFIT-STONE CONTAINER: Execs. Get Bonuses as EBITDA Goal Met
--------------------------------------------------------------
In a regulatory filing with the Securities and Exchange
Commission dated July 31, 2009, Craig A. Hunt, Smurfit-Stone
Container Corp.'s senior vice president, secretary, and general
counsel, disclosed that for the first semi-annual performance
period through June 30, 2009, Smurfit-Stone Container Corporation
exceeded its $199 million earnings before interest, taxes,
depreciation, amortization and rent target.

As a result, each of these executive officers earned the maximum
175% target payout for the first semi-annual performance period:

  Officer                                        Value of Award
  -------                                        --------------
  Patrick J. Moore                                     $553,500
  Chairman & Chief Executive Officer

  Steven J. Klinger                                     397,500
  President and Chief Operating Officer

  Charles A. Hinrichs                                    89,173
  Former Senior Vice President and
  Chief Financial Officer

  Craig A. Hunt                                         163,400
  Senior Vice President,
  Secretary and General Counsel

  Steven C. Strickland                                  142,800
  Senior Vice President of
  Container Operations

However, because the amount of the payout for the first semi-
annual performance period is capped at 40% of the annual target,
the balance of the earned bonus was carried over and will be paid
after the end of the 2009 MIP year, Mr. Hunt notes.

Total awards earned under the 2009 MIP for the first semi-annual
performance period amounted to approximately $22 million, with
approximately $3.8 million being awarded to executive officers.

A copy of the report submitted by the Debtors to the SEC is
available for free at http://tinyurl.com/nwjw2h

                   About Smurfit-Stone Container

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

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

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

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

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


SMURFIT-STONE CONTAINER: Posts $158 Mil. Net Income for 2nd Qrtr
----------------------------------------------------------------
A full-text copy of Smurfit-Stone Container Corporation's
Quarterly Report for the period ended June 30, 2009, filed with
the Securities and Exchange Commission on Form 10-Q is available
at no charge at:  http://tinyurl.com/mb3wcd


              Smurfit-Stone Container Corporation
                   Consolidated Balance Sheet
                     As of June 30, 2009

                             ASSETS

Current Assets:
Cash                                              $590,000,000
Restricted cash                                     13,000,000
Receivables                                        648,000,000
Receivables for alt. tax credits                    89,000,000
Retained interests in receivables sold                       0
Inventories
    Work-in process                                 121,000,000
    Materials & supplies                            381,000,000
                                                ---------------
                                                    502,000,000
Prepaid expenses and others                         34,000,000
                                                ---------------
    Total current assets                          1,876,000,000

Net property                                      3,405,000,000
Timberlands, less depletion                          32,000,000
Deferred income taxes                                25,000,000
Other assets                                         68,000,000
                                                ---------------
Total assets                                     $5,406,000,000
                                                ===============

                 LIABILITIES & EQUITY (DEFICIT)

Liabilities Not Subject to Compromise:
Current liabilities:
  Current maturities of long-term debt           $1,783,000,000
  Accounts payable                                  336,000,000
  Accrued compensation and payroll taxes            144,000,000
  Interest payable                                    9,000,000
  Income taxes payable                               10,000,000
  Current deferred taxes                             21,000,000
  Other current liabilities                         134,000,000
                                                ---------------
     Total current liabilities                    2,437,000,000

Other long-term liabilities                         123,000,000
                                                ---------------
Total liabilities not subject to compromise       2,560,000,000

Liabilities subject to compromise                 4,256,000,000
                                                ---------------
Total liabilities                                 6,816,000,000

Stockholders' Equity:
  Preferred stock                                   103,000,000
  Common stock                                        3,000,000
  Additional paid-in capital                      4,077,000,000
  Retained earnings (deficit)                    (4,950,000,000)
  Accumulated other comprehensive loss             (643,000,000)
                                                ---------------
Total stockholders' deficit                      (1,410,000,000)

Total liabilities & stockholders' equity         $5,406,000,000
                                                ===============

              Smurfit-Stone Container Corporation
              Consolidated Statement of Operations
            For the three months ended June 30, 2009

Net sales                                        $1,407,000,000

Costs and expenses:
Cost of goods sold                                1,256,000,000
Selling and administrative expenses                 146,000,000
Restructuring charges                                11,000,000
(Gain) Loss on disposal of assets                    (1,000,000)
Other operating income                             (276,000,000)
                                                ---------------
Income from operations                              271,000,000

Other income (expense):
Interest expense, net                               (74,000,000)
DIP Debt issuance costs                                       0
Loss on early extinguishment of debt                          0
Foreign currency exchange gains (losses)             (2,000,000)
Other, net                                            6,000,000
                                                ---------------
Income(loss) before reorg. items and                201,000,000
  income taxes

Reorganization items, net                           (39,000,000)
                                                ---------------
Income(Loss) before income taxes                    162,000,000
Provision for income taxes                           (4,000,000)
                                                ---------------
Net Income(loss)                                   $158,000,000
                                                ===============

              Smurfit-Stone Container Corporation
              Consolidated Statement of Cash Flows
             For the six months ended June 30, 2009

Cash flows from operating activities:
Net loss                                           ($56,000,000)
Adjustments:
  Loss on early extinguishment of debt               20,000,000
  Depreciation, depletion, & amortization           182,000,000
  DIP Debt issuance costs                            63,000,000
  Amortization of debt issuance costs                 3,000,000
  Deferred income taxes                               3,000,000
  Pension & postretirement benefits                  20,000,000
  (Gain)Loss on disposal of assets                    1,000,000
  Non-cash restructuring expenses                     4,000,000
  Non-cash stock-based compensation                   4,000,000
  Non-cash foreign currency exchange gains           (1,000,000)
  Non-cash reorganization items                      61,000,000
  Change in restricted cash                         (13,000,000)
  Change in current assets & liabilities:
     Receivables                                    (38,000,000)
     Receivables for alt. energy tax cred.          (89,000,000)
     Inventories                                     19,000,000
     Prepaid expenses & other current assets         (5,000,000)
     Accounts payable                               204,000,000
     Interest payable                                77,000,000
  Others, net                                        33,000,000
                                                ---------------
Net cash provided by operating activities           492,000,000

Cash flows from investing activities:
Expenditures for property                           (69,000,000)
Proceeds from property disposals                      4,000,000
Advances to affiliates, net                         (15,000,000)
                                                ---------------
Net cash used for investing activities              (80,000,000)

Cash flows from financing activities:
Proceeds from DIP debt                              440,000,000
Net borrowings of long-term debt                     60,000,000
Repurchase of receivables                          (385,000,000)
DIP Debt issuance costs                             (63,000,000)
Preferred dividends                                           0
                                                ---------------
Net cash provided by financing activities            52,000,000

Increase in cash and cash operations                464,000,000
Cash & cash equivalents:
  Beginning of period                               126,000,000
                                                ---------------
  End of period                                    $590,000,000
                                                ===============

                   About Smurfit-Stone Container

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

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

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

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

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


SMURFIT-STONE CONTAINER: To Sell Timberlands to SocGen Quebec
-------------------------------------------------------------
Smurfit-Stone Container Corp. and its affiliates seek the Court's
approval to sell 962,204 acres of timberlands in Quebec, Canada to
Societe Generale de Finacement du Quebec, free and clear of liens
and encumbrances, and to assume and assign certain executory
contracts and unexpired leases to the SGF.

The Timberlands are the largest privately-owned harvestable land
in Quebec.

The Debtors propose to pay all related transaction costs,
including C$1,250,000 to Scotia Capital, Inc., which was retained
by the Debtors to market the Timberlands before the Petition
Date.

Furthermore, the Debtors seek the Court's approval to do business
with AbitibiBowater, Inc., which includes:

  -- sharing 50% the Sale proceeds, which will amount to
     approximately C$28,000,000, in consideration for Abitibi's
     consensual release of certain property rights relating to
     the Timberlands and Abitibi's agreement to continue
     supplying wood fiber to Smurfit-Stone Container Canada Inc.
     paper mill in La Tuque, Quebec;

  -- entering into a wood fiber supply agreement; and

  -- rejecting existing wood supply agreements.

In early 2008, the Debtors began to consider their strategic
alternatives with respect to the Timberlands, which are not
necessary for their ongoing operations, James F. Conlan, Esq., at
Sidley Austin LLP, in Chicago, Illinois, relates.

Following a comprehensive marketing and sales process, the
Debtors agreed to sell the Timberland Assets, which include all
of the assets and operations that are currently located on the
Timberlands except for the La Tuque Mill, to SGF for C$60,400,000
pursuant to an asset purchase agreement.

One of the conditions precedent that the Debtors must satisfy
under the Asset Purchase Agreement is a requirement that the
existing cutting and harvesting agreements between the Debtors
and Abitibi in connection with the Timberlands be terminated and
that Abitibi release the Debtors from all obligations going
forward, Mr. Conlan tells the Court.

Accordingly, the Debtors engaged in good faith negotiations with
Abitibi that have resulted in an agreement between the parties.

Mr. Conlan asserts that the Debtors must be allowed to sell the
Timberland Assets to SGF and to enter into the Wood Fiber Supply
Agreement with Abitibi because the Debtors will dispose of non-
core assets that are not necessary to their ongoing operations
and will use the remaining portion of the sale proceeds, after
sharing proceeds with Abitibi, to pay down postpetition secured
debt.

With regard to Scotia Capital's payment, Mr. Conlan notes that
Scotia Capital's extensive marketing process has ensured that the
Debtors will receive fair and reasonable consideration for the
Timberland Assets while eliminating the operating costs.

For the Wood Fiber Supply Agreement, Mr. Conlan submits that it
will ensure that SSC Canada has a continuous, reliable source for
softwood chips, shavings and sawdust, which are essential inputs
for the La Tuque Mil, at competitive prices.  The Debtors believe
that if the Wood Fiber Supply Agreement is not consummated, it is
unlikely that SSC Canada will be able to negotiate a long-term
contract to purchase fiber from Abitibi on terms as favorable as
those that would be available under the Wood Fiber Supply
Agreement.

Abitibi currently supplies 60% of the sawdust required by the La
Tuque Mill.  Based on a comprehensive analysis by the Debtors,
Mr. Conlan says, it appears that without the Wood Fiber Supply
Agreement, (i) the La Tuque Mill's fiber costs would increase by
approximately $9,000,000 per year because of the substitution of
sawdust with higher cost fiber and (ii) the mill's pulping
capacity would be reduced by approximately 50 metric tons per
day.

As a result, Mr. Conlan explains, the additional costs and lost
productivity that would be incurred in the absence of the Wood
Fiber Supply Agreement would be significantly greater than the
proceeds of the Proposed Sale that the Debtors intend to share
with Abitibi.

The Debtors have engaged the legal and financial advisors of the
Official Committee of Unsecured Creditors as they negotiated the
terms of the Proposed Sale with SGF and the related transactions
with Abitibi, and the Committee has no objections, Mr. Conlan
tells the Court.  He adds that the Debtors' request is supported
by Deloitte & Touche, Inc., the CCAA monitor.

The Cross-Border Debtors have also sought approval of the
Proposed Sale from the Honorable Justice J. Pepall at the
Superior Court of Justice (Commercial List) for the Province of
Ontario, in Canada, who has scheduled a hearing for August 17,
2009, to consider approval of the Proposed Sale and related
transactions.

In a separate filing, the Debtors ask the Court to hear their
request on an expedited basis.  They assert that an August 17
hearing is necessary because the Proposed Sale is "inextricably"
tied to their efforts to preserve and maximize estate value.

The Debtors further ask the Court to file the Agreements under
seal and not made available to anyone, except the Court, the
Office of the United States Trustee, and the Creditors'
Committee.  Mr. Conlan asserts that the Agreements contain
confidential information.

                   About Smurfit-Stone Container

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

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

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

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

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


SMURFIT-STONE CONTAINER: U.S. Trustee Opposes M&T to Committee
--------------------------------------------------------------
Manufacturers and Traders Trust Company was appointed asked the
Bankruptcy Court to direct the Office of the United States Trustee
to appoint it as a member to the Official Committee of Unsecured
Creditors.

On April 27, 2009, Wilmington Trust Company determined that it
had to resign as indenture trustee for the 7 3/8% Senior Notes
due July 15, 2014 issued by Stone Container Finance Company of
Canada II and guaranteed by Smurfit-Stone Container Enterprises,
Inc.  Upon Wilmington Trust Company's resignation, M&T was
appointed as successor indenture trustee for the 7 3/8%
Notes.  The appointment was effective as of May 7, 2009.

The Committee's counsel told M&T that the Committee has
recommended to the U.S. Trustee that M&T be added to the
Committee, along with another trade creditor to preserve the
voting structure.  After waiting for two months, the U.S. Trustee
informed M&T that its request is denied.  Accordingly, M&T asked
the Court to direct its appointment to the Creditors Committee

            U.S. Trustee Wants M&T Appointment Denied

Roberta A. DeAngelis, the Acting United States Trustee for Region
3, relates that she sought out the positions of the major
constituents in the case, especially the Official Committee of
Unsecured Creditors.

In contrast to Manufacturers and Traders Trust Company's
statement that the Committee recommended M&T to be appointed as a
member, the Committee's counsel expressed no position on M&T's
statement, and added only that if M&T is appointed to the
Committee, then the Committee supports the addition of an extra
trade creditor so as to keep the current balance of creditors,
the U.S. Trustee relates.

After thoughtful review of M&T's request, the U.S. Trustee
declined to appoint M&T to the Committee because M&T has not
demonstrated that the Committee as presently constituted does not
adequately represent the interests of those creditors holding
claims related to the Debtors' various bond issuances.

The U.S. Trustee notes that three members of the Committee
represent the interests of bondholders, including Wilmington
Trustee Company, the indenture trustee for approximately $2
billion of unsecured bond debt.  In addition, there are two trade
creditors on the Committee, which is a significant constituency
and the remaining two members of the Committee represent
significant and important stakeholders: the pension obligations
of the Debtors, through the Pension Benefit Guaranty Corporation,
and the unionized workers of the Debtors, through the United
Steelworkers Union.

The U.S. Trustee further argues that M&T's argument that it is
different because it holds claims against a subsidiary debtor is
not sufficient because Stone Container Finance Company of Canada
II is not an operating entity and owns no material assets.  She
notes that the only debt it owes, other than an intercompany
payable, are the 7 3/8% Notes and it appears that the 7 3/8%
Notes are "pari passu" with the other bond issuances.  Therefore,
Ms. DeAngelis reasons that M&T is in no distinct or different
position than the other bond debt which is adequately represented
on the Committee.

For these reasons, the U.S. Trustee asks the Court to deny M&T's
request.

                   About Smurfit-Stone Container

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

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

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

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

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


SPICEWOOD DEVELOPMENT: Case Summary & Largest Unsecured Creditor
----------------------------------------------------------------
Debtor: Spicewood Development, LLC
        PO Box 1507
        Enka, NC 28728

Bankruptcy Case No.: 09-10874

Chapter 11 Petition Date: August 11, 2009

Court: United States Bankruptcy Court
       Western District of North Carolina (Asheville)

Judge: George R. Hodges

Debtor's Counsel: David G. Gray, Esq.
                  81 Central Avenue
                  Asheville, NC 28801
                  Tel: (828) 254-6315
                  Email: judyhj@bellsouth.net

Total Assets: $1,192,000

Total Debts: $18,656

The Debtor identified Baker Grading with a disputed trade claim
for $1,340 as its largest unsecured creditor. A full-text copy of
the Debtor's petition, including a list of its largest unsecured
creditor, is available for free at:

            http://bankrupt.com/misc/ncwb09-10874.pdf

The petition was signed by James C. Hitt, member/manager of the
Company.


SPRINT NEXTEL: S&P Assigns 'BB' Rating on $1.3 Bil. Senior Notes
----------------------------------------------------------------
Standard & Poor's Rating Services said it assigned a 'BB' issue-
level rating to Overland Park, Kansas-based wireless carrier
Sprint Nextel Corp.'s proposed $1.3 billion senior unsecured notes
due 2017, to be drawn from its shelf registration.  The recovery
rating is '3', indicating expectations for meaningful (50%-70%)
recovery in the event of payment default.  Proceeds from the new
issue will be for general corporate purposes.

At the same time, S&P affirmed the existing 'BB' corporate credit
rating and all other ratings on the company.  The affirmation
reflects the modest improvement in liquidity from the notes issue
despite ongoing post-paid subscriber losses and still-elevated
churn relative to its peers.  S&P expects total funded debt to be
about $22.5 billion.

"The ratings on Sprint Nextel continue to reflect a weak business
profile because of its elevated churn relative to its peers and
anemic subscriber trends," said Standard & Poor's credit analyst
Allyn Arden, "as well as significant competition from other
wireless carriers, which is particularly important as the industry
continues to show signs of maturation." Rising leverage is another
factor.  Mitigating factors include Sprint Nextel's position as
the third-largest wireless carrier in the U.S., a strong portfolio
of spectrum licenses, industry-leading data penetration, and
adequate liquidity.


STANFORD GROUP: Asset Freeze Extended Pending Claw-Back Appeal
--------------------------------------------------------------
The U.S. Fifth Circuit Court of Appeals granted motions by Ralph
S. Janvey, in his capacity as receiver for the Stanford
International Bank, Ltd., to extend the asset freeze over certain
Stanford Group Company and Stanford Trust Company customer
accounts that remain frozen.  The extension maintains the asset
freeze during the Receiver's appeal of a determination by the
District Court on claw backs for principal payments under
certificates of deposits issued by Stanford.

Final briefing on the Receiver's appeal is due on October 14,
2009, and oral argument has tentatively been scheduled for
November 2, 2009.

The Receiver had asked the Court of Appeals to enter an order
extending the injunction until it determines this legal issue --
whether an equity receiver has a viable claim for disgorgement of
money diverted from one group of innocent investors in a Ponzi
scheme and paid to others as a purported return of the principal.
Mr. Janvey requested for an extension of an existing freeze over
the investment accounts at Pershing, JP Morgan and SEI of Stanford
customers who received ill-gotten gains.  "Without such an order,
investors who were lucky enough to cash out of the scheme before
the receivership will be permitted to keep millions of dollars
stolen from other innocent investors who were not so fortunate,"
Mr. Janvey said in his motion.

About 30,000 accounts at Pershing, et al., were frozen at the
start of the receivership but Mr. Janvey had released 97% of these
accounts.  During the week of July 27, the Receiver asserted
ancillary claims against 800 investors as relief defendants,
seeking disgorgement of nearly $400 million that was stolen from
other investors and distributed to the relief defendants before
the receivership commenced.

The District Court, however, ruled the relief defendants cannot be
liable for return of principal they invested with Stanford,
despite the fact that the principal was "returned" only by
diverting the deposits of other innocent investors.  Based on this
conclusion, the Court imposed a freeze on the defendants' accounts
only to the extent of purported interest payments they received on
their invested principal.

Had the Court of Appeals rejected the extension, the frozen
accounts would have been released effective August 13.

Mr. Janvey is represented by:

    Baker Botts L.L.P.
    Kevin M. Sadler, Esq.
    Joseph R. Knight, Esq.
    Susan Dillon Ayers, Esq.
    98 San Jacinto Blvd., Suite 1500
    Tel: (512) 322-2589
    Fax: (512) 322-2501

                       About Stanford Group

Stanford companies operated by selling certificates of deposit in
more than 100 discrete locations spanning 15 states in the United
States and 13 countries in Europe, the Caribbean, Canada and Latin
America. Stanford claimed to have more than 30,000 clients located
in 133 countries.

Domiciled in Antigua, Stanford International Bank Limited --
http://www.stanfordinternationalbank.com/-- is a member of
Stanford Private Wealth Management, a global financial services
network with US$51 billion in deposits and assets under management
or advisement.  Stanford Private Wealth Management serves more
than 70,000 clients in 140 countries.

On February 16, 2009, the United States District Court for the
Northern District of Texas, Dallas Division, signed an order
appointing Ralph Janvey as receiver for all the assets and records
of Stanford International Bank, Ltd., Stanford Group Company,
Stanford Capital Management, LLC, Robert Allen Stanford, James M.
Davis and Laura Pendergest-Holt and of all entities they own or
control.

The U.S. Securities and Exchange Commission, on Feb. 17, charged
before the U.S. District Court in Dallas, Texas, Mr. Stanford and
three of his companies for orchestrating a fraudulent, multi-
billion dollar investment scheme centering on an US$8 billion
Certificate of Deposit program.

A criminal case was pursued against him in June before the U.S.
District Court in Houston, Texas.  Mr. Stanford pleaded not guilty
to 21 charges of multi-billion dollar fraud, money-laundering and
obstruction of justice.  Assistant Attorney General Lanny Breuer,
as cited by Agence France-Presse News, said in a 57-page
indictment that Mr. Stanford could face up to 250 years in prison
if convicted on all charges.  Mr. Stanford surrendered to U.S.
authorities after a warrant was issued for his arrest on the
criminal charges.

The criminal case is U.S. v. Stanford, H-09-342, U.S. District
Court, Southern District of Texas (Houston).  The civil case is
SEC v. Stanford International Bank, 3:09-cv-00298-N, U.S. District
Court, Northern District of Texas (Dallas).  See
http://www.usdoj.gov/criminal/vns


STANT PARENT: Section 341(a) Meeting Set for September 8
--------------------------------------------------------
The first meeting of creditors in Stant Parent Corp., et al.'s
jointly administered bankruptcy cases will be held on September 8,
2009, at 10:00 a.m. at the J. Caleb Boggs Federal Building, 844
King Street, 2nd Floor, Room 2112, in Wilmington, Delaware.

This is the first meeting of creditors required under Section
341(a) of the Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
meeting of creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible officer of the
Debtors under oath about the Debtors' financial affairs and
operations that would be of interest to the general body of
creditors.

Connersville, Indiana-based Stant Parent Corp. and its affiliates
filed for Chapter 11 on July 27, 2009 (Bank. D. Del. Lead Case No.
09-12647).  Sandra G.M. Selzer, Esq., and Scott D. Cousins, Esq.,
at Greenberg Traurig, LLP, represent the Debtors in their
restructuring efforts.  In their petition, the Debtors listed
between $50 million and $100 million each in assets and debts.


STANT PARENT: Employs Mesirow Financial as Advisor
--------------------------------------------------
Stant Parent Corp., et al., ask the U.S. Bankruptcy Court for the
District of Delaware for permission to employ Mesirow Financial
Consulting, LLC, as its financial advisor, nunc pro tunc to the
petition date.

MFC has agreed, among other things, to:

  a) assist in preparing and analyzing information regarding the
     business, operations and financial position of the Debtors;

  b) prepare and negotiate any confidentiality agreements to be
     entered into with potential purchasers; and

  c) assist in preparing an offering memorandum and/or
     informational teaser for distribution and presentation to
     potential purchasers.

As compensation, MFC will receive:

  a) a fixed fee of $140,000; and

  b) a monthly advisory fee of $25,000.  Each monthly fee received
     will be apprlied against the fixed fee, to the extent allowed
     by the Court.

KevinA. Krakora, a senior managing director of Mesirow Financial,
tells the Court that the firm does not hold or represent an
interest adverse to the interests of the estates with respect to
the matter on which the firm will be employed, and that the firm
is a "disinterested person" within the meaning of Section 101(14)
of the Bankruptcy Code.

Connersville, Indiana-based Stant Parent Corp. and its affiliates
filed for Chapter 11 on July 27, 2009 (Bank. D. Del. Lead Case No.
09-12647).  Sandra G.M. Selzer, Esq., and Scott D. Cousins, Esq.,
at Greenberg Traurig, LLP, represent the Debtors in their
restructuring efforts.  In their petition, the Debtors listed
between $50 million and $100 million each in assets and debts.


STANT PARENT: Gets Initial OK to Access GMAC's $11MM DIP Financing
------------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized,
on an interim basis, Stant Parent Corp. and its debtor-affiliates
to:

   -- obtain secured postpetition loans, advances and other
      accommodations up to an aggregate principal amount not to
      exceed $11,000,000 from GMAC Commercial Finance LLC;

   -- use cash securing repayment of GMAC loan; and

   -- grant adequate protection to the lenders.

A final hearing on the Debtors' DIP financing is set for
August 17, 2009, at 10:00 a.m. before Hon. Brendan L. Shannon at
824 North Market Street, 6th Floor, Wilmington, Delaware.
Objections were due August 10, 2009.

The Debtors owe GMAC $62,051,487 plus (i) outstanding letter of
credit exposure, plus (ii) other fee and costs.  The Debtors also
owe $25,218,778 under the junior prepetition notes as of July 22,
2009.

The Debtors and Laden Thalman &Co., Inc., its investment banker,
were unable to procure sufficient financing in the form of
unsecured credit.

The lenders agreed to provide the Debtors with postpetition
financing to facilitate the sale and a structured liquidation in
Chapter 11.

The Debtors will use the proceeds of any loans and financial
accommodations under the DIP financing, the cash collateral for
the operations of the Debtors' business.

                  Salient Terms of DIP Financing

Borrowers:          The Debtors

Agent:              GMAC Commercial Finance, LLC

Lenders:            GMAC Commercial Financial, LLC, RBS Citizens,
                    National Assciation, ING Capital LLC, and the
                    HUntington National Bank

Commitment:          not to exceed $11,000,000

Termination:         The date which is the earlier of (a)
                     September 30, 2009; (b) closing of the sale
                     of all or substantially all of the Borrowers'
                     assets; (c) the date that is 10 days after
                     the Bankruptcy Court's order approving the a
                     sale of all or substantially all of the
                     Borrowers' assets; and (d) the occurrence of
                     an event of default.

Events of Default:   Customary

The liens and superpriority claims will be subject and subordinate
to the carve-out.

As adequate protection, the Debtors will grant the lenders
security interest in all of their owned and acquired property.
Additionally, the lenders will be granted replacement liens.

                       U.S. Trustee Objects

Roberta A. DeAngelis, Acting U.S. Trustee for Region 3, objected
to the Debtors' DIP motion stating that the professional fee
account is inappropriate.  The U.S. Trustee stated that in the
budget attached to the Interim DIP Order projected estate
professional fees through the week of Oct. 10, 2009, in the total
amount of $1,158,000.  The budget sets aside an additional
$687,500 for the senior lender's counsel.

The U.S. Trustee also stated that the commencement of any
adversary proceeding against the agent or the lenders relating to
the prepetition indebtedness, the postpetition indebtedness, the
prepetition collateral or the postpetition collateral in the
interim order constitute an event of default.

                      About Stant Parent Corp.

Connersville, Indiana-based Stant Parent Corp. and its affiliates
filed for Chapter 11 on July 27, 2009 (Bank. D. Del. Lead Case No.
09-12647).  Sandra G.M. Selzer, Esq., and Scott D. Cousins, Esq.,
at Greenberg Traurig, LLP, represent the Debtors in their
restructuring efforts.  In their petition, the Debtors listed
assets and debts both ranging from $50,000,001 to $100,000,000.


STANT PARENT: Seeks to Employ Greenberg Traurig as Counsel
----------------------------------------------------------
Stant Parent Corp. and its debtor-affiliates ask the U.S.
Bankruptcy Court for the District of Delaware for permission to
employ Greenberg Traurig LLP as their counsel.

The firm has agreed to, among other things:

   a) provide legal advice with respect to the Debtors' powers and
      duties as debtors-in-possession in the continued operation
      of their businesses and management of their property;

   b) negotiate, draft, and pursue all documentation necessary in
      the cases as determined in conjunction with Greenberg
      Traurig;

   c) prepare on behalf of the Debtors all applications, motions,
      answers, orders, reports, and other legal papers necessary
      to the administration of the Debtors' estates;

   d) appear in Court and protecting the interests of the Debtors
      before the Court; and

   e) assist with any disposition of the Debtors' assets, by sale
      or otherwise.

The firm's current hourly rates applicable to the principal
attorneys and paralegals proposed to represent the Debtors are:

      Professional                       Hourly Rate
      ------------                       -----------
      Nancv A. Mitchell, Esq.               $850
      Scott D. Cousins, Esq.                $685
      Alan J. Brody, Esq.                   $625
      Sandra G. M. Selzer, Esq.             $475
      Michael J. Schrader, Esq.             $375
      Sohyoung Choo, Esq.                   $360
      Leslie Salcedo                        $255
      Elizabeth Thomas                      $210

     Shareholders                        $335-$1,050
     Of Counsel                          $325-$900
     Associates                          $150-$575

The Debtors assure the Court that the firm is a "disinterested
person" within the meaning of Section 101(14) of the Bankruptcy
Code.

Connersville, Indiana-based Stant Parent Corp. and its affiliates
filed for Chapter 11 on July 27, 2009 (Bank. D. Del. Lead Case No.
09-12647).  Sandra G.M. Selzer, Esq., and Scott D. Cousins, Esq.,
at Greenberg Traurig, LLP, represent the Debtors in their
restructuring efforts.  In their petition, the Debtors listed
assets and debts both ranging from $50,000,001 to $100,000,000.


STANT PARENT: U.S. Trustee Forms Five-Member Creditors' Panel
-------------------------------------------------------------
Roberta A. DeAngelis, U.S. Trustee for Region 3, appointed five
creditors to serve on the Official Committee of Unsecured
Creditors of Stant Parent Corp. and its debtor-affiliates.

The members of the Committee are:

   1) Masters Machine Co., Inc.
      Attn: Tom Keller, CFO
      500 Lower Round Pond Rd.
      PO Box 16
      Raino Pond, ME 04564
      Tel: (207) 529-5191
      Fax: (207) 529-5231

   2) Jackson Spring & Mfg. Co.
      Attn: Robert F. Meyers
      299 Bond Street
      Elk Grove, IL 60007
      Tel: (847) 952-8850
      Fax: (847) 952-8909

   3) Quality Mold Shop, Inc.
      Attn: Floyd Bouldin
      4247 Smithville Hwy.
      McMinnville, TN 37110
      Tel: (931) 668-3876
      Fax: (931) 668-3877

   4) Nstar Electric Company
      Attn: William Van Dam
      One Nstar Way
      Westwood, MA 02090
      Tel: (781) 441-8143
      Fax: (617) 424-2421

   5) Jasper Rubber Products, Inc.
      Attn: Marcus Oxley
      1010 1st Ave.
      Jasper, IN 47546
      Tel: (812) 482-0802
      Fax: (812) 481-2702

Connersville, Indiana-based Stant Parent Corp. and its affiliates
filed for Chapter 11 on July 27, 2009 (Bank. D. Del. Lead Case No.
09-12647).  Sandra G.M. Selzer, Esq., and Scott D. Cousins, Esq.,
at Greenberg Traurig, LLP, represent the Debtors in their
restructuring efforts.  In their petition, the Debtors listed
assets and debts both ranging from $50,000,001 to $100,000,000.


SUNSET SUITES: Case Summary & 7 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Sunset Suites Arizona, LLC
        2220 Rancho Colorado Blvd.
        Bullhead City, AZ 86442

Bankruptcy Case No.: 09-19171

Chapter 11 Petition Date: August 11, 2009

Court: United States Bankruptcy Court
       District of Arizona (Yuma)

Judge: Randolph J. Haines

Debtor's Counsel: Paul 1 Sala, Esq.
                  Allen, Sala & Bayne, PLC
                  Viad Corporate Center
                  1850 N. Central Ave., #1150
                  PhoeniX, AZ 85004
                  Tel: (602) 256-6000
                  Email: psala@asbazlaw.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

A full-text copy of the Debtor's petition, including a list of its
7 largest unsecured creditors, is available for free at:

             http://bankrupt.com/misc/azb09-19171.pdf

The petition was signed by Larry Grimaldi, managing member of the
Company.


THAKOR LLC: Voluntary Chapter 11 Case Summary
---------------------------------------------
Debtor: Thakor, LLC
        9111 So. Las Vegas Blvd.
        Las Vegas, NV 89123

Bankruptcy Case No.: 09-24516

Chapter 11 Petition Date: August 10, 2009

Court: United States Bankruptcy Court
       District of Nevada (Las Vegas)

Judge: Mike K. Nakagawa

Debtor's Counsel: Malik W. Ahmad, Esq.
                  City Center West #108
                  7201 W. Lake Mead Blvd
                  Las Vegas, NV 89128
                  Tel: (702) 270-9100
                  Fax: (702) 384-5900
                  Email: Malik11397@aol.com

                  Liborius Agwara, Esq.
                  Agwara & Associates
                  1058 E. Sahara Ave, Suite B
                  Las Vegas, NV 89104
                  Tel: (702) 385-4800

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

The Debtor did not file a list of its 20 largest unsecured
creditors when it filed its petition.


TRIBUNE CO: Launches Local Blog Network ChicagoNow.Com
------------------------------------------------------
ChicagoNow.com, the new place for Chicagoans to connect and share
their interests, officially launched on August 10.

ChicagoNow is a network of more than 70 blogs on a wide range of
topics reflecting the city's passions-from politics and sports to
fashion and sex.  Bloggers include engaging Chicagoans such as
former Chicago White Sox pitcher Jack McDowell, Miss Illinois 2009
Ashley Bond, auctioneer Leslie Hindman, socialite Candace Jordan,
commentator Dennis Byrne, and the up-and-coming band I Fight
Dragons.

Established blogs such as the CTA Tattler, District 299 and Gapers
Block are part of the ChicagoNow network. It will also be home to
the relaunched RedEye Web site.  New contributors are being added
weekly.

"We think of it as an online town square for the Chicago of right
now -- the city that gave the world a president and may host the
world for an Olympics," said Bill Adee, ChicagoNow's blog scout.

While the site offers a unique platform for Chicagoans to weigh in
on the city's hot topics, it also answers the illusive question of
how local advertisers fit into the social media scene.

"No other local media group has figured out the social media
phenomenon and how advertisers can tap into this medium," said
Joseph Farrell, the site's advertising director.  "ChicagoNow
offers the unparalleled solution that advertisers have been
demanding.  We can deliver highly targeted, efficient results; an
easy way to get into social media; and unique advertising models
to reach online consumers."

Charter advertisers on ChicagoNow include: @ Properties, Broadway
in Chicago, Live Nation and Northwestern School of Continuing
Studies.

In beta since May 26, ChicagoNow.com drew more than 500,000 unique
monthly visitors and more than 1.2 million pageviews in July.
More than 4,000 users have registered for profiles on the site.

                        About ChicagoNow

ChicagoNow is a local website that features over 70 of the city's
best bloggers, including local celebrities and experts.  At
ChicagoNow, Chicagoans discuss everything ranging from fashion
and music to sports and politics.  It will also be home to the
relaunched RedEye Web site. ChicagoNow is part of the Chicago
Tribune Media Group portfolio which includes chicagotribune.com,
metromix.com., Chicago Tribune, RedEye, Hoy and Triblocal.
www.chicagonow.com

                         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)


TRIBUNE CO: Plan Filing Deadline Moved to November 30
-----------------------------------------------------
Judge Kevin J. Carey of the U.S. Bankruptcy Court for the District
of Delaware, extended Tribune Co. and its affiliates' exclusive
period to file a plan of reorganization through November 30, 2009.
He also extended the corresponding period to solicit acceptance of
that Plan through January 29, 2010.

Prior to the entry of the order, the Debtors certified to the
Court that no objection was filed as to the request.  However,
the Debtors said they have agreed, at the request of the Official
Committee of Unsecured Creditors, to shorten the solicitation
period through January 29, 2010, rather than March 15, 2010, as
previously requested.

In their request for the extension, the Debtors said that during
the past seven months, they have made significant progress in
administering their cases and productively utilizing their
exclusivity periods.  The Debtors tell the Court that they have
continued to drive their cases toward resolution, both in matters
of case administration and discussions with their major creditor
constituencies.

James F. Conlan, Esq., at Sidley Austin LLP, in Chicago, Illinois,
points to these significant developments since April 23, 2009,
when the first exclusivity extension order was entered:

  (a) On March 26, 2009, the Court entered an order establishing
      a general claims bar date of June 12, 2009.  As of
      July 24, 2009, more than 6,000 claims asserting
      approximately $606 billion in the aggregate have been
      filed.  Based on the Debtors' preliminary analysis, the
      filed claims that are likely to be allowed may not vary
      substantially from their scheduled aggregate liabilities
      of approximately $13.7 billion.

  (b) The Debtors are party to approximately 45,000 executory
      contracts and unexpired leases.  The Debtors have obtained
      Court approval to assume executory contracts to support
      their operations, and their review and analysis continues.

      The Debtors were granted an extension through July 6,
      2009, to assume or reject their remaining unexpired real
      estate leases.  Through March 23, 2009, the Debtors
      were granted orders pursuant to three omnibus motions
      to reject more than 70 leases for an annual cost savings
      of approximately $6,100,000.  On June 25, 2009, the
      Debtors were authorized to assume 224 unexpired
      non-residential leases and pay cure amounts up to
      approximately $377,000 and, after resolving objections,
      the Debtors were granted their fourth omnibus rejection
      order regarding 30 additional leases for annual cost
      savings of approximately $9,900,000, before offset for
      any replacement space.

  (c) The Debtors have continued to pursue a potential
      transaction involving the Chicago Cubs, a Major League
      Baseball franchise that is owned and operated by one of
      Tribune's non-Debtor affiliates, Chicago National League
      Ball Club, LLC and Cubs LLC's subsidiaries and related
      interests.  If successfully concluded, that transaction
      will allow the majority of the value of the Chicago Cubs
      -- one of the most valuable single assets of Tribune and
      its affiliates -- to be monetized, generating substantial
      cash proceeds, and having a material impact on the
      structure of any Plan.

  (d) The Debtors have conducted extensive operational,
      financial and legal analyses necessary to the formulation
      of a confirmable Plan.  The Debtors have had extensive
      discussions with both the Official Committee of Unsecured
      Creditors and their senior lender steering committee
      concerning the framework for a consensual Plan and believe
      that progress have been made.  The Debtors have worked
      continuously over the last several months to provide the
      Committee with requested information in order to allow it
      to complete its due diligence of the Debtors and their
      principal prepetition transactions.

  (e) The Debtors strive to maintain a cooperative and
      responsive relationship with their creditor
      constituencies, including the Creditors' Committee and the
      Steering Committee.  The Debtors and their professionals
      have provided to the Creditors' Committee and the Steering
      Committee massive amounts of data and analyses involving
      sizing the Debtors' current and potential liabilities,
      including pension liabilities, tax liabilities and
      intercompany claims.  The Debtors attempt to inform and
      obtain feedback from the Creditors' Committee and the
      Steering Committee on all matters of significance in their
      cases, through their legal and financial advisors,
      maintain regular communications, including frequent
      meetings and telephone conferences.

Mr. Conlan maintains that the Debtors have devoted substantial
time and resources to the development of a long-term business
plan necessary for the formulation of a Plan.

"If this Court were to deny the Debtors' request for a further
extension of the Exclusive Periods, any party in interest would
be free to propose a plan of reorganization for each of the 111
Debtors," Mr. Conlan says.  He adds that terminating exclusivity
at this critical juncture would not advance the rehabilitative
objectives of the Chapter 11 process.

                         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)


TRIBUNE CO: U.S. Trustee, Union Object to Mgt. Incentive Plan
-------------------------------------------------------------
Tribune Co. and its affiliates seek the Court's authority to
implement a 2009 Management Incentive Plan that includes:

  (a) a continuation of the Debtors' self-funding ordinary
      course annual management incentive program opportunity for
      approximately 720 management employees with an aggregate
      payout opportunity of approximately $17,500,000 if Tribune
      Company achieves its "planned" 2009 operating cash flow
      goal, and an aggregate payout of approximately $35,000,000
      if Tribune achieves "stretch" performance equal to
      142% of its "planned" operating cash flow;

  (b) a Transition MIP to incentivize 21 members of the
      Debtors' core management team with an aggregate payout
      opportunities of approximately $3,500,000 at "planned"
      2009 operating cash flow and approximately $7,500,000 at
      "stretch" 2009 operating cash flow, as well as a
      discretionary pool of $500,000 at "planned" performance
      and $1,000,000 at "stretch" performance for up to 50 other
      employees based on management judgment of their
      contributions to the Debtors' restructuring efforts; and

  (c) a Key Operations Bonus with a maximum aggregate
      opportunity of approximately $9,300,000 to incentivize 23
      participants who also participate in the annual MIP
      component of the 2009 Management Incentive Plan but who do
      not participate in the Transition MIP.

The Debtors also seek the Court's authority to make payouts
totaling $3,100,000 in earned 2008 MIP awards to nine of the Top
10 executives -- that include the Chief Operating Officer, Chief
Administrative Officer, Chief Financial Officer, General Counsel,
two Executive Vice Presidents, President of Tribune Broadcasting,
Publisher of the Los Angeles Times, Executive Vice President of
Tribune Publishing, and President of Tribune Interactive, a non-
Debtor executive.  None of the Top 10 Executives have received
any awards despite payment of 2008 MIP awards to all other
participants.

                    U.S. Trustee & WBNG Object

Roberta A. DeAngelis, the Acting U.S. Trustee for Region 3,
complains that there is insufficient information in the 2009
Management Incentive Plan Motion to support the Debtors'
assertion that all of the programs and payments for which the
Debtors seek approval are bona fide incentive programs and awards
based on real performance targets that are intended to motivate
superior performance.

Specifically, Ms. DeAngelis complains, with respect to the
operating cash flow metric that is a component of several
elements of the programs, the Debtors do not give any factual or
historical context to back up their characterization of that
performance target as being "real."

Ms. DeAngelis asserts that the Debtors should provide the Court
with (i) the operating cash flow targets for 2006 through 2008;
and (ii) the Debtors' actual performance figures against target.

Moreover, Ms. DeAngelis asserts, the Debtors should forward to
her their monthly operating cash flow projections for 2009,
together with actual performance against projection through June
2009.

The Washington-Baltimore Newspaper Guild complains that at a time
when media businesses are suffering incomparable losses and
struggling to survive, the Debtors have proposed to spend
millions of dollars to reward their top management for financial
performance that, year-over-year, evidences declining fortunes.
The WBNG argues that the Debtors have not proven a causal link
between payment of bonuses under the proposed MIP and their
ability to continue operating their businesses.  The WBNG asserts
that withholding bonuses would show a real commitment to
austerity and shared sacrifice.

"The Debtors cannot justify a $69.9 million payout to seven
hundred-plus executives, including the top ten, while
simultaneously pleading financial difficulties to the lower level
workers who report and write the stories, sell the adds, produce
the paper, and handle the broadcasts," Christopher P. Simon,
Esq., at Cross & Simon, LLC, in Wilmington, Delaware, argues for
the WBNG.

Mr. Simon adds that the proposed bonuses to the top executives
are excessive and may, in fact, have a detrimental effect on
motivating others who contribute to the bottom line.  "Indeed,
the payment of disproportionate bonuses to a select group of
executives may have the opposite effect on the rank-and-file
employees," he further argues.

WBNG, Local 32035 of the Communications Workers of America - The
Newspaper Guild, AFL-CIO, has served as the collective bargaining
representative of a unit of employees of the Baltimore Sun since
1949.  The Guild represents 225 employees in the non-production
areas of The Baltimore Sun, including the news and editorial
departments, business departments, advertising department, and
the building department.

The Newspaper Guild of New York, CWA Local 31003; the Truck
Drivers, Helpers, Taxicab Drivers, Garage Employees and Airport
Employees Local 355; and the Baltimore Mailers Union Teamsters
Local No. 888, join the objection of WBNG to the Debtors' motion
to implement a 2009 Management Incentive Plan.

The New York Guild represents 29 people employed by Debtor WPIX,
Inc.

In a letter sent to the Court on August 4, 2009, Chuck Philips, a
creditor of the Debtors, asked Judge Carey to deny the Debtors'
request.

With regard to the Debtors' request to file certain documents
related to the MIP under seal, Ms. DeAngelis asserts that the
Debtors have not demonstrated that the information contained in
the Mercer Report is "confidential commercial information" for
purposes of Section 107(b) of the Bankruptcy Code.  Accordingly,
Ms. DeAngelis argues, to the extent that the Debtors establish
that part of the Mercer Report should be sealed, the balance of
the document should be publicly filed.

WBNG also complains that the Debtors have not provided any
factual evidence that the information contained in the Mercer
Report, which they sought to file under seal, would cause any
advantage in favor of their competitors.  WBNG says it is ironic
that a media company whose mission is to explore, investigate,
and expose facts, seeks to hide behind secrecy.

Accordingly, WBNG asks the Court to deny the request for failure
to meet the burden imposed by Section 107(b) and Rule 9018 of the
Federal Rules of Bankruptcy Procedure.

WBNG filed with the Court an exhibit regarding a letter sent by
Gerry Spector, Tribune Company's chief administrative officer, on
February 16, 2009, regarding salary freeze, a full-text copy of
which is available for free at:

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

            WBNG's Request for Document Production

WBNG has served a request for production of documents and first
set of interrogatories to the Debtors.

                 Debtors Respond to Objections

The Debtors insist that they only need to show that the proposed
MIP is an exercise of their business judgment.  The Debtors
assert that they have demonstrated that the MIP, the Transition
MIP, and the Key Operators Bonus programs under the proposed 2009
MIP utilize performance metrics that are consistent with
competitive market practice, and provide incentive opportunities
that are consistent with peer companies and that are critical to
ensure that their businesses not only survive, but thrive.

The Debtors assert that the Objectors ignore the crucial fact
that both the Official Committee of Unsecured Creditors and the
Steering Committee gave their support only after their
sophisticated financial advisor experts spent months scrutinizing
and negotiating the proposed programs and reviewing the extensive
information provided by the Debtors relating to those programs.

The Debtors also argue that public disclosure of the information
requested by WBNG is unnecessary to the Guild's objection, would
invade the privacy of the individuals whose compensation would be
disclosed, and would pose significant risks of competitive harm
to the Debtors, including by giving their competitors valuable
data and insights into the Debtors' individualized compensation
structure and its operational goals and strategies.  According to
the Debtors, WBNG's unreasonable demands to make public, among
others, individual compensation information and detailed
business-unit-level projections, belie its purported need for
additional information to support its objections.

Thus, the Debtors ask the Court to enter a protective order
denying WBNG's discovery requests in their entirety.  In the
alternative, the Debtors ask the Court to direct that any
documents produced in response to those requests be subject to
appropriate conditions of professionals-eyes-only
confidentiality.

In response, WBNG asks the Court to deny the Debtors' request for
confidentiality requirement.  WBNG asserts that if the request is
granted, WBNG will be prohibited to share any of the information
WBNG obtained and would require any filings incorporating the
discovery responses to be filed under seal.  WBNG argues that the
discovery sought does not constitute confidential commercial
information within the meaning of Section 107(b) and Rule 9018.

                         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)


TRONOX INC: Barroway Topaz Files Class Action on Spin-Off
---------------------------------------------------------
Barroway Topaz Kessler Meltzer & Check, LLP, said a class action
lawsuit was filed in the United States District Court for the
Southern District of New York on behalf of purchasers of Tronox,
Inc. between November 28, 2005, and January 12, 2009 inclusive.

To contact Barroway Topaz Kessler Meltzer & Check, LLP:

     Darren J. Check, Esq
     David M. Promisloff, Esq.
     Toll Free: 1-888-299-7706
                1-610-667-7706
     info@btkmc.com

The Complaint charges Kerr-McGee Corporation, Anadarko Petroleum
Corporation and certain of Kerr-McGee and Tronox's officers and
directors with violations of the Securities Exchange Act of 1934.
Tronox is not named in this action as a defendant because it filed
for bankruptcy protection in January 2009.

Tronox was spun-off from Kerr-McGee in a two-step transaction.  In
November 2005, Kerr McGee sold 17.5 million shares of Tronox Class
A shares in an initial public offering for $14.00 per share
generating proceeds for Kerr-McGee of $225 million.  After the
IPO, Kerr-McGee distributed the balance of the shares that it
owned as Class B shares to its shareholders as a dividend.

The Complaint alleges that the Company failed to disclose and
misrepresented material adverse facts which were known to
defendants or recklessly disregarded by them: (1) that the
Company's reserves for environmental liabilities failed to include
reserves for other identified, but undisclosed sites; (2) that the
Company faced extraordinarily high exposure regarding its
environmental liabilities, which it failed to fully disclose to
its shareholders; (3) that the Company's reserves for
environmental liabilities were wholly inadequate; (4) that the
Company would face extremely high tort liabilities, particularly
for wood treatment claims; (5) that the Company's financial
statements and, specifically the methodology used to calculate the
Company's environmental liabilities reserve, were not prepared in
accordance with Generally Accepted Accounting Principles; (6) that
the Company lacked adequate internal and financial controls; (7)
that, as a result of the foregoing, the Company's financial
statements were materially false and misleading at all relevant
times; and (8) that, as a result of the foregoing, defendants'
statements about the Company's financial well-being and future
business prospects were lacking in any reasonable basis when made.
As a result of defendants' wrongful acts and omissions, and the
precipitous decline in the market value of the Company's
securities, Plaintiff and other Class Members have suffered
significant losses and damages.

The Plaintiff seeks to recover damages on behalf of class members
and is represented by Barroway Topaz which prosecutes class
actions in both state and federal courts throughout the country.

                         About Tronox Inc.

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

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

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

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

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

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


TRW AUTOMOTIVE: Equity Issuance Won't Affect S&P's 'B' Rating
-------------------------------------------------------------
Standard & Poor's Ratings Services said that its ratings and
outlook on TRW Automotive Inc. (B/Negative/--) would likely be
unaffected by the company's recently announced intention to issue
up to 16.1 million shares of common equity.  Still, S&P views the
issuance as a positive credit development because S&P expects the
company to use the net proceeds, estimated at $250 million or
better, to reduce debt.

In S&P's view, TRW's prospective earnings and cash flow
performance remain the more important variables for any
improvement in credit quality.  With adjusted debt of $3.8 billion
as of July 3, 2009, and weak EBITDA because of the ongoing global
recession, the company's pension and lease-adjusted leverage was
7.6x as of the same date.

Notably, the company reported EBITDA of $235 million, excluding
restructuring costs, for the first half of 2009, exceeding S&P's
expectations.  Second-quarter EBITDA improved, partly resulting
from recent restructuring initiatives.  If TRW is able to sustain
these EBITDA improvements and this leads to lower cash
consumption, S&P could review the outlook.  S&P's rating on the
company reflects S&P's assumption that TRW will generate negative
cash flow in the year ahead.  TRW's credit facility amendment
executed in June that enables the company to remain in compliance
with covenants was consistent with S&P's expectation for the
rating.


UBS AG: Settles U.S. Lawsuit, To Sign Final Pact
------------------------------------------------
David Voreacos, Carlyn Kolker, and Mort Lucoff at Bloomberg News
report that the U.S. and Swiss governments have settled a Justice
Department lawsuit against UBS AG that sought the names of
Americans suspected of evading taxes through 52,000 secret Swiss
accounts.

As reported by the Troubled Company Reporter on August 11, 2009,
UBS AG and the U.S. and Swiss governments continued settlement
talks, as the parties tried to structure a deal.

According to Bloomberg, Justice Department lawyer Stuart Gibson
told U.S. District Judge Alan Gold in Miami that the governments
have signed initial accords and will later sign a final agreement.
Bloomberg says that Mr. Gibson didn't disclose details of the
settlement.

Bloomberg quoted Scott Michel, a tax attorney at Caplin & Drysdale
in Washington that represents UBS clients, as saying, "They made
an agreement that will reconcile the IRS's desire to get this
information as quickly as possible and the Swiss desire to respect
their own legal procedures and process."

IRS Commissioner Douglas Shulman, according to Bloomberg, said
that the agreement "protects the United States government's
interests."  Mr. Shulman said in a statement that more details
will be released after the Swiss government signs the agreement as
early as next week.

Citing tax lawyers, Bloomberg relates that thousands of UBS
clients avoided prosecution by voluntarily disclosing their
accounts to the IRS under a program that ends on September 23.

According to Bloomberg, tax attorney Bryan Skarlatos at
Kostelanetz & Fink LLP said that the case is likely to have wider
implications beyond any settlement stipulation between UBS and the
IRS.  "Underlying that stipulation will be a broad agreement
between the United States and the Swiss government that could
affect all U.S. taxpayers who kept money in Swiss banks," the
report quoted Mr. Skarlatos as saying.  Kostelanetz & Fink's
clients include some UBS account holders, the report says.

Bloomberg reports that UBS banker Bradley Birkenfeld, who pleaded
guilty to helping wealthy Americans evade taxes, will be sentenced
on August 21 in a federal court in Fort Lauderdale, Florida.
Raoul Weil, another UBS banker, was indicted and declared a
fugitive, while Martin Liechti, a third banker who ran the now-
shuttered cross-border business, was held by the U.S. as a
material witness for several months in 2008, Bloomberg states.

Based in Zurich, Switzerland, UBS AG (VTX:UBSN) --
http://www.ubs.com/-- is a global provider of financial services
for wealthy clients.  UBS's financial businesses are organized on
a worldwide basis into three Business Groups and the Corporate
Center.  Global Wealth Management & Business Banking consists of
three segments: Wealth Management International & Switzerland,
Wealth Management US and Business Banking Switzerland.  The
Business Groups Investment Bank and Global Asset Management
constitute one segment each.  The Industrial Holdings segment
holds all industrial operations controlled by the Group.  Global
Asset Management provides investment products and services to
institutional investors and wholesale intermediaries around the
globe.  The Investment Bank operates globally as a client-driven
investment banking and securities firm.  The Industrial Holdings
segment comprises the non-financial businesses of UBS, including
the private equity business, which primarily invests UBS and
third-party funds in unlisted companies.

As reported in the Troubled Company Reporter-Europe, UBS has
amassed more than US$53 billion in writedowns and losses since the
credit crisis began.  The bank expects to post a loss in the
second quarter of 2009.  The bank's net loss for full-year 2008
widened to CHF19.697 billion from of CHF5.247 million in the prior
year.  Net losses from continuing operations totaled
CHF19.327 billion, compared with losses of CHF5.111 billion in the
prior year.  UBS attributed the losses to negative revenues in its
fixed income, currencies and commodities (FICC) area.  For the
2008 fourth quarter, UBS incurred a net loss of CHF8.100 billion,
down from a net profit of CHF296 million.  Net loss from
continuing operations was CHF7.997 billion compared with a profit
of CHF433 million.  The Investment Bank recorded a pre-tax loss of
CHF7.483 billion, compared with a pre-tax loss of CHF2.748 billion
in the prior quarter.  This result was primarily due to trading
losses, losses on exposures to monolines and impairment charges
taken against leveraged finance commitments.  An own credit charge
of CHF1.616 billion was recorded by the Investment Bank in fourth
quarter 2008, mainly due to redemptions and repurchases of UBS
debt during this period.

UBS said it will further reduce its headcount to 15,000 by the end
of the year.  UBS's personnel numbers reduced to 77,783 on
December 31, 2008, down by 1,782 from September 30, 2008, with
most staff reductions at its investment banking unit.


VERASUN ENERGY: To Auction Off 1,600 Acres of Illinois Farmland
---------------------------------------------------------------
VeraSun Energy Corporation plans to auction roughly 1,600 acres of
Illinois farmland Thursday, Sept. 10, with Schrader Real Estate
and Auction Company, Inc., managing the sale.  The auction is
subject to the approval of the court overseeing the company's
Chapter 11 bankruptcy.

The land, located in Montgomery, Madison and Vermilion counties,
consists primarily of high-quality tillable farmland, with some in
locations that offer potential for industrial and commercial
development.

The sale is being conducted as part of VeraSun's efforts to
maximize the return for its creditors as part of its bankruptcy
and is subject to bankruptcy court approval.  The company had
acquired the land over the years in support of its ethanol-related
businesses.

"Because of the stability of farmland prices relative to prices of
other assets in recent months, many farm owners have been
reluctant to sell their land.  As a result, there have been fewer
opportunities to obtain high-quality tillable land.  By offering
each of the three farms in several tracts, we will enable all
bidders to participate on an equal footing whether buyers want an
entire farm or only part," said Rex Schrader, president of
Schrader Real Estate and Auction.

Properties to be sold include:

   -- Approximately 487 acres at Litchfield, in Montgomery County,
      within 30 minutes of metro St. Louis and close to Interstate
      55.  The property, which is primarily tillable farmland,
      will be offered in 11 tracts, in combinations and as an
      entirety.

   -- Approximately 380 acres in Granite City, selling in eight
      Tracts ranging from roughly 1.2 acres to roughly 230 acres.
      The tracts, located two miles from I-270 east of St. Louis,
      include two homes and have rail access.  The tracts include
      land near a new Lowe's and Wal-Mart.

   -- Approximately 733 acres at Danville on the eastern side of
      Illinois, will be offered in six tracts ranging from
      roughly 35 acres to roughly 250 acres.  Buyers can also bid
      on the entire 733 acres.  This property has rail access and
      is close to I-74 and SR 150.

The auctions will be held in two sessions.  At 9 a.m. CST, the
Montgomery and Madison county properties will be sold at Staunton
Knights of Columbus Hall in Staunton, Ill.  The Vermilion County
land will be sold at 6 p.m. CST at Beef House restaurant near
Covington, Ind. Westchester Auctions, of Champaign, Ill., is
partnering with Schrader on the sale.

Individuals seeking additional information visit
http://www.schraderauction.com/or call 800-451-2709.

                    About VeraSun Energy

Headquartered in Sioux Falls, South Dakota, VeraSun Energy Corp.
-- http://www.verasun.comor http://www.VE85.com/-- produces and
markets ethanol and distillers grains.  Founded in 2001, the
company has a fleet of 16 production facilities in eight states,
with 14 in operation.

The Company and its debtor-affiliates filed for Chapter 11
protection on October 31, 2008 (Bankr. D. Del. Case No. 08-12606).
Mark S. Chehi, Esq., at Skadden Arps Slate Meagher & Flom LLP
represents the Debtors in their restructuring efforts.
AlixPartners LLP serves as their restructuring advisor.
Rothschild Inc. is their investment banker and Sitrick & Company
is their communication agent.  The Debtors' claims noticing and
balloting agent is Kurtzman Carson Consultants LLC.  The Debtors'
total assets as of June 30, 2008, was $3,452,985,000 and their
total debts as of June 30, 2008, was $1,913,214,000.

VeraSun closed on April 1, 2009, the sale of substantially all of
its assets to Valero Renewable Fuels, a subsidiary of Valero
Energy Corporation, North America's largest petroleum refiner and
marketer.  The purchased assets included five ethanol production
facilities and a development site.  The facilities are located in
Aurora, South Dakota; Fort Dodge, Charles City, and Hartley, Iowa;
and Welcome, Minnesota, and the development site is in Reynolds,
Indiana.

Valero paid $350 million for the ethanol production facilities in
Aurora, Fort Dodge, Charles City, Hartley and Welcome, in addition
to the Reynolds site.  Valero also successfully bid $72 million
for the Albert City facility and $55 million for the Albion
facility.  The purchase price also includes working capital
and other certain adjustments.

VeraSun also completed on April 9 the sale to AgStar Financial
Services PCA of substantially all of the assets relating to the
company's production facilities in Dyersville, Iowa; Hankinson,
North Dakota; Janesville, Minnesota; Central City and Ord,
Nebraska; and Woodbury, Michigan.  AgStar released the USBE
Subsidiaries from their obligations under $319 million of existing
indebtedness and assumed certain liabilities relating to the
AgStar Facilities.

On April 13, US BioEnergy Corporation and US Bio Marion LLC
completed the sale to Marion Energy Investments LLC, as assignee
of Dougherty and First Bank & Trust, of substantially all of the
assets relating to the Debtors' production facility in Marion,
South Dakota.  The consideration for the acquired assets consisted
of release of US Bio Marion from its obligations under
approximately $93 million of existing indebtedness to the Marion
Buyers, payment by MEI of $934,861 in cash and assumption by the
Marion Purchasers of certain liabilities relating to the Marion
facility.  VeraSun Bankruptcy News; Bankruptcy Creditors' Service
Inc., http://bankrupt.com/newsstand/or 215/945-7000).


VINEYARD CHRISTIAN: Ch 11 Trustee May Hire Weiland as Spl Counsel
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
has granted Jeffrey I. Golden, the Chapter 11 trustee in Vineyard
Christian Fellowship of Malibu's bankruptcy case, permission to
employ Weiland, Golden, Smiley, Wang Ekvall & Strok, LLP, as his
special counsel, effective May 11, 2009.

As special counsel, Weiland Golden has agreed, among others, to:

  1. prepare the motion for approval to sell the real property
     located at 23825 Stuart Ranch Road, Malibu, California and
     certain personal property located at the real property;

  2. negotiate with lien holders regarding the use of cash
     collateral and surcharge/carve-out or consent to sale; and

  3. prepare the motion for relief from the Agreed Order and
     Stipulation entered into between the Debtor and Marshall
     Investments Corp. and to surcharge Marshall's collateral.

Compensation to the Weiland Golden will be determined and paid as
an expense of the estate upon noticed hearing and further order of
the Court.

Wieland Golden will represent the Chapter 11 trustee at a rate of
between $195 and $550 per hour, depending on the experience and
expertise of the attorney or paralegal performing the work.  The
majority of the work will be performed by Kyra E. Andrassy, Esq.,
senior counsel, whose current hourly rate is $405.

Malibu, California-based Vineyard Christian Fellowship of Malibu
owns real property in Malibu, California, on which it operates a
multi-purpose office building and recording studio.  The company
filed for Chapter 11 protection on September 12, 2008 (Bankr. C.D.
Calif. Case No. 08-16951).  Attorneys at Weiland, Golden, Smiley,
Wang Ekvall & Strok, LLP, represent the Chapter 11 trustee as
counsel.  In its schedules, the Debtor listed total assets of
$34,344,046 and total debts of $18,670,082.

On July 9, 2009, the Trustee filed his first Interim Report, which
provides an overview of the activities that the Trustee and his
team of professionals have engaged in during the period December
11, 2008 through June 30, 2009.  The Trustee will file future
interim reports every six months and will provide updates on his
activities as appropriate.


XOMA LTD: June 30 Balance Sheet Upside-Down by $18.3 Million
------------------------------------------------------------
XOMA Ltd.'s balance sheet at June 30, 2009, showed total assets of
$66,785,000 and total liabilities of $85,104,000, resulting in a
stockholders' deficit of $18,319,000.

For three months ended June 30, 2009, the Company posted a net
loss of $10,210,000 compared with a net loss of $20,690,000 for
the same period in 2008.

For six months ended June 30, 2009, the Company posted a net loss
of $3,971,000 compared with a net loss of $34,865,000 for the same
period in 2008.

As of June 30, 2009, the Company had cash and cash equivalents of
$27,600,000 and restricted cash of $6,100,000.  Based on cash and
cash equivalents on hand at June 30, 2009, and anticipated
spending levels, revenues, collaborator funding, government
funding and other sources of funding the Company believed to be
available, the Company estimated that it has sufficient cash
resources to meet its anticipated net cash needs through the next
twelve months.

A full-text copy of the Company's Form 10-Q is available for free
at http://ResearchArchives.com/t/s?417f

On March 10, 2009, Ernst & Young LLP in Palo Alto, California
expressed substantial doubt about its ability to continue as a
going concern after auditing the Company's financial statements
for fiscal years ended December 31, 2008, and 2007.  The auditor
noted  that the Company has a long-term loan balance of
$50,400,000, where, under certain circumstances, the obligation to
repay this debt could be required in 2009.

                          About XOMA Ltd.

XOMA Ltd. (NASDAQ:XOMA) is a biopharmaceutical company focused on
the discovery, development and manufacture of therapeutic
antibodies.  XOMA uses its expertise, technologies and
capabilities to build a product pipeline that includes multiple
collaborative development programs.  The Company receives
royalties on two approved products, Raptiva, which is marketed
globally for the treatment of moderate-to-severe plaque psoriasis,
and Lucentis, which is marketed worldwide for the treatment of
neovascular (wet) age-related macular degeneration.


* Bankruptcy Filings Rise in New Hampshire & Charlotte
------------------------------------------------------
Kirsten Valle at Charlotte Observer reports that bankruptcy
filings have increased to their highest level in years, fueled by
continuing troubles in the real estate market.  Court officials
expect the number to reach an all-time high by 2010, the report
says.

NHBR.com states that bankruptcies in New Hampshire increased by
50% to 494 in July 2009, compared to July 2008.  It is the highest
number on record in July and the most in any month in New
Hampshire since 2005, NHBR.com relates.

According to NHBR.com, 16 of the bankruptcy filings were made by
businesses in the U.S. Bankruptcy Court in Manchester.  July has
the most business filings this year, the report states.

NHBR.com relates that the year-to-date total to 2,969 bankruptcy
filings in New Hampshire, a 31% increase over the same period a
year ago.  There would be almost 6,000 bankruptcies declared in
New Hampshire this year if filings continue at the same pace,
according to the report.

The housing market's collapse and its ripple effect on related
businesses has led to a record number of contractors, developers,
building suppliers, and others filing for Chapter 11 bankruptcy
protection in the Charlotte region, Charlotte Observer states,
citing experts.

Charlotte Observer states that the surge of bankruptcies means
more houses are sitting unfinished, and more construction
companies are overdue on their bills to the companies that rely on
them.  The report quoted bankruptcy attorney Rick Mitchell as
saying, "The real estate thing has just taken a devastating fall."
Mr. Mitchell sees three to four real estate-related cases a week,
accounting for about half his business in the last 18 months, the
report says.

Court documents show that Chapter 11 bankruptcy filings -- most of
them business cases -- in the Western District of North Carolina
have increased to more than 50 so far this year, from 42 in 2008.
According to Charlotte Observer, more than 30% have involved
construction-related firms.

Charlotte Observer states that a handful of Chapter 7 cases were
filed by builders or other real estate companies this year.
Citing lawyers, Charlotte Observer relates that dozens more of
those could be personal filings from brokers, small-time builders
and more.

According to Charlotte Observer, bankruptcy filings have climbed
steadily since 2006, when a new law made it more difficult to file
for bankruptcy protection.  Citing experts, the report says that
more than 1.8 million people and businesses could file in 2010,
surpassing the previous high-water mark.


* Distressed Debt Rises to $84.4 Billion This Year
--------------------------------------------------
Mike Spector and Jeffrey McCracken at The Wall Street Journal
report that distressed-debt deals have increased to $84.4 billion
this year, compared to $20 billion in 2008.

In distressed-debt deals, creditors use their debt positions to
confiscate ownership of troubled companies.  The deals involve
firms ranging from auto-parts maker Delphi Corp. to retailer Eddie
Bauer and hotel chain Extended Stay America, The Journal states.

Data provider Dealogic says that about 140 of the deals have been
reached during 2009, compared with 102 transactions in 2008.
Never have they occurred with such volume and velocity, The
Journal says, citing bankers and lawyers.  According to The
Journal, the figures include corporate takeovers, encompassing a
wide array of transactions related to bankruptcies,
restructurings, recapitalizations or liquidations.

According to The Journal, U.S. investment banking at Lazard Freres
& Co. LLC vice chairperson Barry Ridings said that today's lenders
are "increasingly hedge funds who are thinking about a loan-to-own
strategy."  Citing Mr. Ridings, The Journal says that boards of
troubled firms that can't pay their debts find that surrendering
company control to lenders is "the best way to maximize value."

The Journal notes that mergers and acquisitions lawyers are
increasingly collaborating with their firms' bankruptcy practices
and Wall Street restructuring shops, and now work with groups of
creditors who seek to convert the debts into ownership of a
crippled company, rather than working with a suitor that wants to
buy a firm for cash or stock.

The Journal says that the opportunities for similar deals are
likely to increase.  Some $145 billion in debt could default this
year, followed by about $130 billion next year and $120 billion in
2010, The Journal relates, citing Bank of America Merrill Lynch.
The Journal notes that default rates have increased to around 10%
this year, from around 4% in 2008, and less than 1% in 2007, when
credit was easy and the economy was strong.  "This will continue
for three to four years with all of the bank debt that comes due.
The absolute dollar value of projected defaulted debt is six or
seven times as much" as in the recession of the early 1990s, the
Journal quoted Bank of America Merrill Lynch distressed mergers
and acquisitions chief Scott Levy as saying.

The Journal states that some of the biggest turnover is in real
estate.


* Fitch Reports Moderate Financial Risk for Restaurant Industry
---------------------------------------------------------------
Fitch Ratings says financial risk is moderating for the U.S.
Restaurant industry, despite continued weakness in same-store
sales performance.  In a special report released, Fitch says
aggressive expense reductions, easing commodity cost pressures and
less spending on capital expenditures and share repurchases have
contained declines in operating cash flow and are helping to
preserve liquidity.  Credit statistics for many companies have
stabilized or deteriorated only modestly.  Furthermore, investors
and banks' appetite to invest and lend to restaurants also appears
to be returning.  Given an improved cost frontier, better access
to capital and the absence of massive restaurant closures,
bankruptcy fears for highly leveraged foodservice providers should
continue to abate.

'Profitability has improved for many restaurants, resulting in
near-term stability in credit measures.  The question now is which
firms will benefit most when traffic improves.' said Carla
Norfleet Taylor, Director at Fitch Ratings.  'Companies like
Darden Restaurants, Inc., which operates Olive Garden, Red Lobster
and LongHorn Steakhouse, have been able to effectively reduce
restaurant expenses without sacrificing food quality or the
customers' experience.'

Fitch continues to expect operating cash flow growth to remain
limited in 2009 due to uncertainty regarding sustainable
improvement in SSS.  'It is possible for traffic to improve before
the recession ends since dining out is often viewed as more of an
affordable indulgence' added Wesley E. Moultrie II, Senior
Director at Fitch Ratings.  'But since consumers continue to seek
lower cost alternatives to dining out and are simply preparing
more meals at home, improvement in employment levels will be the
real driver.' Fitch Ratings currently expects the national
unemployment rate to peak in 2010 and then improve modestly in
2011.

Fitch-rated restaurants/foodservice providers and their current
Issuer Default Ratings are:

  -- McDonald's Corp. ('A'; Outlook Stable);
  -- Darden Restaurants, Inc. ('BBB'; Outlook Negative);
  -- YUM!Brands, Inc. ('BBB-'; Outlook Stable);
  -- Burger King Corp. ('BB'; Outlook Positive);
  -- DineEquity, Inc. (Not Applicable);
  -- ARAMARK Corp. ('B'; Outlook Stable).

Other companies mentioned in the report include:

  -- Brinker International, Inc.;
  -- Wendy's/Arby's Group, Inc.;
  -- Ruby Tuesday, Inc.;
  -- Carrols Restaurant Group, Inc.;
  -- NPC International, Inc.;
  -- Starbucks Corp.;
  -- CKE Restaurants, Inc.;
  -- Sbarro, Inc.


* ISDA Launches Web Site to Provide Info on CDS Market
------------------------------------------------------
The International Swaps and Derivatives Association has created a
Web Site that aims to provide information on the credit default
swap (CDS) market.

The ISDA CDS MarketplaceSM -- http://www.isdacdsmarketplace.com/-
- brings together information, data and statistics on the credit
default swaps (CDS) business.

According to Shannon D. Harrington at Bloomberg, the Web site was
launched the same day the Obama administration delivered a
proposal to Congress for reining in the $26 trillion market, which
has largely escaped oversight by regulators.  "This is intended to
lend some regularity and substance to information about CDS that
commentators claim is lacking and that has often been
misunderstood," said ISDA Chief Executive Officer Robert Pickel.

"Credit default swaps continue to play an important role in
today's global economy," said Eraj Shirvani, ISDA Chairman and
Head of Fixed Income EMEA at Credit Suisse.  "ISDA's new website
is another step in the Association's on-going efforts to increase
understanding of this innovative sector of the financial markets."

"This new site is designed to enhance understanding of CDS by
pulling together in one place key sources of information about the
market," said Robert Pickel, Executive Director and Chief
Executive Officer, ISDA. "Viewers can access a wealth of material
from a variety of sources: daily CDS price changes, current CDS
exposures, CDS trading activity, market statistics and more."

ISDA, which represents participants in the privately negotiated
derivatives industry, is among the world's largest global
financial trade associations as measured by number of member
firms.  ISDA was chartered in 1985, and today has over 830 member
institutions from 58 countries on six continents.


* Chapter 11 Cases With Assets and Liabilities Below $1,000,000
---------------------------------------------------------------
In Re Steven's Grocery, Inc.
       aka Silver Heights Superior
       aka Silver Heights PIC-PAC IGA
       aka Silver Heights IGA
   Bankr. W.D. Ky. Case No. 09-33931
      Chapter 11 Petition filed August 4, 2009
         See http://bankrupt.com/misc/kywb09-33931.pdf

   In Re Stevens & Tedrow Grocery, Inc.
          aka Holiday Park Superior
          aka Vine Grove PIC-PAC IGA
          aka Vine Grove IGA
      Bankr. W.D. Ky. Case No. 09-33932
         Chapter 11 Petition filed August 4, 2009
            See http://bankrupt.com/misc/kywb09-33932.pdf

In Re Vijun, Inc.
       dba Dong Ari Restaurant
   Bankr. D. N.J. Case No. 09-30422
      Chapter 11 Petition filed August 4, 2009
         See http://bankrupt.com/misc/njb09-30422.pdf

In Re Gerald Michael Porter
      Kelly Griffin Porter
   Bankr. D. Ariz. Case No. 09-18557
      Chapter 11 Petition filed August 5, 2009
         Filed as Pro Se

In Re Jeffrey Howard Silvers
   Bankr. C.D. Calif. Case No. 09-18041
      Chapter 11 Petition filed August 5, 2009
         Filed as Pro Se

In Re Nicholas Allen Weimer
   Bankr. C.D. Calif. Case No. 09-30422
      Chapter 11 Petition filed August 5, 2009
         Filed as Pro Se

In Re Ahmet Kahya
   Bankr. N.D. Calif. Case No. 09-47129
      Chapter 11 Petition filed August 5, 2009
         See http://bankrupt.com/misc/canb09-47129.pdf

In Re W.B. Care Center, LLC
       dba West Broward Care Center
   Bankr. S.D. Fla. Case No. 09-26196
      Chapter 11 Petition filed August 5, 2009
         See http://bankrupt.com/misc/flsb09-26196p.pdf
         See http://bankrupt.com/misc/flsb09-26196c.pdf

In Re Stuart Tool Service Company
   Bankr. E.D. Mich. Case No. 09-64325
      Chapter 11 Petition filed August 5, 2009
         See http://bankrupt.com/misc/mieb09-64325.pdf

In Re KRN Holding, LLC
   Bankr. E.D.N.Y. Case No. 09-46696
      Chapter 11 Petition filed August 5, 2009
         See http://bankrupt.com/misc/nyeb09-46696.pdf

In Re BD Resolution Company, LLC
       aka FDBA Blue Diamond Capital, LLC
   Bankr. S.D.N.Y. Case No. 09-23408
      Chapter 11 Petition filed August 5, 2009
         See http://bankrupt.com/misc/nysb09-23408.pdf

In Re VIP Veterinary Hospital, PC
   Bankr. S.D.N.Y. Case No. 09-14882
      Chapter 11 Petition filed August 5, 2009
         Filed as Pro Se

In Re Promised Land Development, LLC
   Bankr. E.D.N.C. Case No. 09-06550
      Chapter 11 Petition filed August 5, 2009
         See http://bankrupt.com/misc/nceb09-06550.pdf

In Re Urban Hype, Inc.
       dba Soho Shoes
   Bankr. E.D.N.C. Case No. 09-06525
      Chapter 11 Petition filed August 5, 2009
         See http://bankrupt.com/misc/nceb09-06525.pdf

In Re Gregory Franklin Services, LLC
   Bankr. M.D. Pa. Case No. 09-06047
      Chapter 11 Petition filed August 5, 2009
         Filed as Pro Se

In Re Vision 21, LLC
   Bankr. M.D. Tenn. Case No. 09-08869
      Chapter 11 Petition filed August 5, 2009
         See http://bankrupt.com/misc/tnmb09-08869.pdf

In Re AGS Turf Farms U.S.A., LLC
   Bankr. S.D. Tex. Case No. 09-70576
      Chapter 11 Petition filed August 5, 2009
         See http://bankrupt.com/misc/txsb09-70576.pdf

In Re Town & Country Bowling Lanes, LLC
   Bankr. D. Utah Case No. 09-28179
      Chapter 11 Petition filed August 5, 2009
         See http://bankrupt.com/misc/utb09-28179.pdf

In Re Seville Builders and Manufacturers, Inc.
   Bankr. E.D. Va. Case No. 09-16298
      Chapter 11 Petition filed August 5, 2009
         See http://bankrupt.com/misc/vaeb09-16298.pdf

In Re Cotton Gin Fabrics, Inc.
   Bankr. W.D. Va. Case No. 09-62503
      Chapter 11 Petition filed August 5, 2009
         See http://bankrupt.com/misc/vawb09-62503.pdf

In Re Christopher C. Buchman
       dba Green Acres Green House
   Bankr. E.D. Wis. Case No. 09-31348
      Chapter 11 Petition filed August 5, 2009
         See http://bankrupt.com/misc/wieb09-31348.pdf

In Re Essex Moto, LLC
   Bankr. D. Conn. Case No. 09-32149
      Chapter 11 Petition filed August 6, 2009
         See http://bankrupt.com/misc/ctb09-32149.pdf

In Re Jackson Contracting, Inc.
   Bankr. D. Del. Case No. 09-12795
      Chapter 11 Petition filed August 6, 2009
         See http://bankrupt.com/misc/deb09-12795.pdf

In Re Amleson, Inc. dba The UPS Store #4162
   Bankr. M.D. Fla. Case No. 09-17250
      Chapter 11 Petition filed August 6, 2009
         See http://bankrupt.com/misc/flmb09-17250.pdf

   In Re Jaysonamle, Inc. dba The UPS Store #3195
      Bankr. M.D. Fla. Case No. 09-17251
         Chapter 11 Petition filed August 6, 2009
            See http://bankrupt.com/misc/flmb09-17251.pdf

   In Re Leamson, Inc. dba The UPS Store #4522
      Bankr. M.D. Fla. Case No. 09-17253
         Chapter 11 Petition filed August 6, 2009
            See http://bankrupt.com/misc/flmb09-17253.pdf

   In Re Sonamle, Inc. dba The UPS Store #5515
      Bankr. M.D. Fla. Case No. 09-17255
         Chapter 11 Petition filed August 6, 2009
            See http://bankrupt.com/misc/flmb09-17255.pdf

   In Re Samuel W. Scott
      Bankr. M.D. Fla. Case No. 09-17257
         Chapter 11 Petition filed August 6, 2009
            See http://bankrupt.com/misc/flmb09-17257.pdf

In Re Rashida A. Ray
   Bankr. N.D. Ill. Case No. 09-28759
      Chapter 11 Petition filed August 6, 2009
         Filed as Pro Se

In Re Fillers Realty, LLC
   Bankr. N.D. Ind. Case No. 09-13575
      Chapter 11 Petition filed August 6, 2009
         See http://bankrupt.com/misc/innb09-13575.pdf

   In Re Mid-American Steel, Inc.
      Bankr. N.D. Ind. Case No. 09-13574
         Chapter 11 Petition filed August 6, 2009
            See http://bankrupt.com/misc/innb09-13574.pdf

In Re Corinth Hardware, Inc.
   Bankr. D. Maine Case No. 09-11049
      Chapter 11 Petition filed August 6, 2009
         See http://bankrupt.com/misc/meb09-11049.pdf

In Re Buster's Route 66, Inc.
       dba Route 66 Pub & Grubb
   Bankr. D. Neb. Case No. 09-82086
      Chapter 11 Petition filed August 6, 2009
         See http://bankrupt.com/misc/neb09-82086.pdf

In Re Brian Hayes
   Bankr. D. N.H. Case No. 09-13016
      Chapter 11 Petition filed August 6, 2009
         See http://bankrupt.com/misc/nhb09-13016.pdf

In Re Unity The Way of Holiness Christian Church
       aka Unity Fellowship Christian Church
   Bankr. W.D.N.C. Case No. 09-32117
      Chapter 11 Petition filed August 6, 2009
         Filed as Pro Se

In Re David Butler, Inc.
   Bankr. N.D. Tex. Case No. 09-35237
      Chapter 11 Petition filed August 6, 2009
         See http://bankrupt.com/misc/txnb09-35237.pdf

In Re Shayna Joy Lockhart
   Bankr. E.D. Va. Case No. 09-16353
      Chapter 11 Petition filed August 6, 2009
         See http://bankrupt.com/misc/vaeb09-16353.pdf

In Re Billy DeWayne Brown
      Rita Brown
   Bankr. M.D. Ala. Case No. 09-32104
      Chapter 11 Petition filed August 7, 2009
         See http://bankrupt.com/misc/almb09-32104.pdf

In Re King Seafood, Inc.
   Bankr. S.D. Ala. Case No. 09-13589
      Chapter 11 Petition filed August 7, 2009
         See http://bankrupt.com/misc/alsb09-13589.pdf

In Re David R. Sleater
   Bankr. D. Ariz. Case No. 09-18864
      Chapter 11 Petition filed August 7, 2009
         See http://bankrupt.com/misc/azb09-18864.pdf

In Re Light Chasers, Inc.
   Bankr. D. Ariz. Case No. 09-18870
      Chapter 11 Petition filed August 7, 2009
         See http://bankrupt.com/misc/azb09-18870.pdf

In Re LandMark Utilities, Inc.
   Bankr. E.D. Ark. Case No. 09-15634
      Chapter 11 Petition filed August 7, 2009
         See http://bankrupt.com/misc/areb09-15634.pdf

In Re Stefan G. Gerlei
      Ana M. Gerlei
   Bankr. W.D. Ark. Case No. 09-73932
      Chapter 11 Petition filed August 7, 2009
         See http://bankrupt.com/misc/arwb09-73932.pdf

In Re 5594 Jedsmith LLC
   Bankr. C.D. Calif. Case No. 09-20135
      Chapter 11 Petition filed August 7, 2009
         Filed as Pro Se

In Re Joe Minh Tran
       aka Joe M. Tran
       aka Joe Tran
       aka Joseph Tran
       aka Joseph Minh Tran
       aka Joseph M. Tran
   Bankr. C.D. Calif. Case No. 09-30795
      Chapter 11 Petition filed August 7, 2009
         Filed as Pro Se

In Re Ryan Walker Wilson
       aka Philip Douglas Wilson
   Bankr. C.D. Calif. Case No. 09-30761
      Chapter 11 Petition filed August 7, 2009
         Filed as Pro Se

In Re D and V Machine Shop and Pump Co., Inc.
   Bankr. E.D. Calif. Case No. 09-36695
      Chapter 11 Petition filed August 7, 2009
         See http://bankrupt.com/misc/caeb09-36695.pdf

In Re Desmond Gumbs
   Bankr. N.D. Calif. Case No. 09-47259
      Chapter 11 Petition filed August 7, 2009
         Filed as Pro Se

In Re Poelstra Family Enterprises, LLC
   Bankr. D. Colo. Case No. 09-26074
      Chapter 11 Petition filed August 6, 2009
         See http://bankrupt.com/misc/cob09-26074p.pdf
         See http://bankrupt.com/misc/cob09-26074c.pdf

In Re Life Design Systems, Inc.
   Bankr. D. Conn. Case No. 09-51556
      Chapter 11 Petition filed August 7, 2009
         Filed as Pro Se

In Re Mega, Inc.
       dba Domino's Pizza
   Bankr. M.D. Fla. Case No. 09-17323
      Chapter 11 Petition filed August 7, 2009
         See http://bankrupt.com/misc/flmb09-17323.pdf

In Re Lawncut Landscape MGMT, LLC
   Bankr. N.D. Ga. Case No. 09-80766
      Chapter 11 Petition filed August 7, 2009
         Filed as Pro Se

In Re Reed Warren Seligman
      Suzanne Rae Seligman
   Bankr. N.D. Ga. Case No. 09-80787
      Chapter 11 Petition filed August 7, 2009
         See http://bankrupt.com/misc/ganb09-80787.pdf

In Re James Bradford Logging Company, Inc.
   Bankr. W.D. La. Case No. 09-81004
      Chapter 11 Petition filed August 7, 2009
         See http://bankrupt.com/misc/lawb09-81004.pdf

In Re Arthur C. Ohr
      Ashley H. Kim
       aka Hyun Sook Kim
   Bankr. D. Md. Case No. 09-24648
      Chapter 11 Petition filed August 7, 2009
         See http://bankrupt.com/misc/mdb09-24648p.pdf
         See http://bankrupt.com/misc/mdb09-24648c.pdf

In Re Windsor Construction Group Inc
       fdba Windsor Design Build, Inc.
   Bankr. D. Md. Case No. 09-24619
      Chapter 11 Petition filed August 7, 2009
         See http://bankrupt.com/misc/mdb09-24619.pdf

In Re Keith E. Pinney
       fdba Pinney's Logging
      Pamela J. Pinney
   Bankr. W.D. Mich. Case No. 09-09428
      Chapter 11 Petition filed August 7, 2009
         See http://bankrupt.com/misc/miwb09-09428.pdf

In Re Cecere Associates, L.L.C.
   Bankr. D. N.J. Case No. 09-30759
      Chapter 11 Petition filed August 7, 2009
         See http://bankrupt.com/misc/njb09-30759p.pdf
         See http://bankrupt.com/misc/njb09-30759c.pdf

   In Re Cecere Realty Assoc., LLC
      Bankr. D. N.J. Case No. 09-30760
         Chapter 11 Petition filed August 7, 2009
            See http://bankrupt.com/misc/njb09-30760p.pdf
            See http://bankrupt.com/misc/njb09-30760c.pdf

In Re Leroy Berbick
   Bankr. D. N.J. Case No. 09-30684
      Chapter 11 Petition filed August 7, 2009
         See http://bankrupt.com/misc/njb09-30684.pdf

In Re James E Hockenberry, Jr.
   Bankr. S.D. Ohio Case No. 09-59064
      Chapter 11 Petition filed August 7, 2009
         See http://bankrupt.com/misc/ohsb09-59064.pdf

In Re DD's Specialty Bakery & Cafe, Inc.
   Bankr. W.D. Pa. Case No. 09-11451
      Chapter 11 Petition filed August 7, 2009
         See http://bankrupt.com/misc/pawb09-11451.pdf

In Re Matrix Nightclub, Inc.
   Bankr. W.D. Pa. Case No. 09-25831
      Chapter 11 Petition filed August 7, 2009
         See http://bankrupt.com/misc/pawb09-25831p.pdf
         See http://bankrupt.com/misc/pawb09-25831c.pdf

In Re Sports Rock Cafe, Inc.
   Bankr. W.D. Pa. Case No. 09-25829
      Chapter 11 Petition filed August 7, 2009
         See http://bankrupt.com/misc/pawb09-25829.pdf

In Re Elantra Gate Systems Inc.
   Bankr. M.D. Tenn. Case No. 09-08998
      Chapter 11 Petition filed August 7, 2009
         See http://bankrupt.com/misc/tnmb09-08998.pdf

In Re Gunderson & Baca LLC
   Bankr. M.D. Tenn. Case No. 09-08969
      Chapter 11 Petition filed August 7, 2009
         See http://bankrupt.com/misc/tnmb09-08969.pdf

In Re James Victor Sands
      Rita Carol Sands
   Bankr. M.D. Tenn. Case No. 09-08997
      Chapter 11 Petition filed August 7, 2009
         See http://bankrupt.com/misc/tnmb09-08997.pdf

In Re Holloway Glass, Inc.
   Bankr. N.D. Tex. Case No. 09-35248
      Chapter 11 Petition filed August 7, 2009
         See http://bankrupt.com/misc/txnb09-35248.pdf

In Re El Cazador, Inc.
       dba El Cazador Mexican Restaurants
       dba El Cazador Mexican Grill & Cantina
   Bankr. W.D. Wash. Case No. 09-18004
      Chapter 11 Petition filed August 7, 2009
         See http://bankrupt.com/misc/wawb09-18004.pdf

In Re Auburn Bowling Center, LLC
   Bankr. D. Neb. Case No. 09-42296
      Chapter 11 Petition filed August 8, 2009
         See http://bankrupt.com/misc/neb09-42296.pdf

In Re Restaurant One Fifty, LLC d/b/a Jolina
   Bankr. W.D. N.C. Case No. 09-32133
      Chapter 11 Petition filed August 8, 2009
         See http://bankrupt.com/misc/ncwb09-32133.pdf

In Re Gerald P. Sigler
   Bankr. M.D. Fla. Case No. 09-17438
      Chapter 11 Petition filed August 9, 2009
         See http://bankrupt.com/misc/flmb09-17438.pdf

In Re William Joe Tiner
   Bankr. E.D. Ark. Case No. 09-15667
      Chapter 11 Petition filed August 10, 2009
         See http://bankrupt.com/misc/areb09-15667.pdf

In Re Antonio C. Rodriguez
      Lilian Rodriguez
       aka Lilian Guillen
   Bankr. C.D. Calif. Case No. 09-30897
      Chapter 11 Petition filed August 10, 2009
         Filed as Pro Se

In Re Luz Elena Herrera
       aka Elena Herrera
   Bankr. N.D. Calif. Case No. 09-12532
      Chapter 11 Petition filed August 10, 2009
         See http://bankrupt.com/misc/canb09-12532.pdf

In Re Thomas Roth, LLC
   Bankr. D. Conn. Case No. 09-51570
      Chapter 11 Petition filed August 10, 2009
         See http://bankrupt.com/misc/ctb09-51570.pdf

In Re Gerald P. Sigler
   Bankr. M.D. Fla. Case No. 09-17438
      Chapter 11 Petition filed August 9, 2009
         See http://bankrupt.com/misc/flmb09-17438.pdf

In Re Park Shore Communities, LLC
   Bankr. M.D. Fla. Case No. 09-17460
      Chapter 11 Petition filed August 10, 2009
         See http://bankrupt.com/misc/flmb09-17460.pdf

In Re Harrison Wolf
       dba S.E. Intelligence
       dba S.E. Intelligence of AZ
       dba Sandhill Electronics Intel
   Bankr. D. Nev. Case No. 09-24471
      Chapter 11 Petition filed August 10, 2009
         Filed as Pro Se

In Re Willie R. Lee, Sr.
      Bessie M. Lee
   Bankr. D. Nev. Case No. 09-24497
      Chapter 11 Petition filed August 10, 2009
         Filed as Pro Se

In Re 2170 Eighth Ave Realty Mang LLC
   Bankr. S.D.N.Y. Case No. 09-14921
      Chapter 11 Petition filed August 10, 2009
         Filed as Pro Se

In Re Schofield-Johnson L.L.C.
   Bankr. M.D. N.C. Case No. 09-81347
      Chapter 11 Petition filed August 10, 2009
         See http://bankrupt.com/misc/ncmb09-81347.pdf

In Re Cloister Development Group, LLC
   Bankr. M.D. Tenn. Case No. 09-09030
      Chapter 11 Petition filed August 10, 2009
         See http://bankrupt.com/misc/tnmb09-09030.pdf

In Re Unity Faith Temple of Christ for All Nations Inc.
   Bankr. W.D. Tenn. Case No. 09-28636
      Chapter 11 Petition filed August 10, 2009
         See http://bankrupt.com/misc/tnwb09-28636.pdf

In Re The Staggering Grape, G.P.
       dba Dvine Wine of Plano
   Bankr. E.D. Tex. Case No. 09-42552
      Chapter 11 Petition filed August 10, 2009
         See http://bankrupt.com/misc/txeb09-42552.pdf



                           *********

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

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

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

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

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

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

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

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

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

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

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