TCR_Public/090914.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

            Monday, September 14, 2009, Vol. 13, No. 255

                            Headlines

ABITIBIBOWATER INC: Bank Debt Trades at 23% Off
ABITIBIBOWATER INC: Still Buying Used Material
ACCURIDE CORP: Bank Debt Trades at 7.3% Off in Secondary Market
ALVIN WILLIAMS: Case Summary & 20 Largest Unsecured Creditors
AMERICAN AXLE: Barclays Analyst Hikes Stock to Overweight/Neutral

AMERICREDIT CORP: Fitch Affirms 'B-' Issuer Default Rating
AMR CORP: Aims for Expansive Joint Venture With Japan Airlines
ANNIE LEIBOVITZ: Has Deal With Art Capital on Loan Payment Delay
ASARCO LLC: Sterlite Sweetens Bid, Topping Grupo Mexico
ASHLEY GLEN: Hearing on October 7 for Mansion Appraisal

AVIS BUDGET: Bank Debt Trades at 10.25% Off in Secondary Market
B&G FOODS: S&P Puts 'B' Corp. Rating on CreditWatch Positive
B&G FOODS: Stocks Issuance Won't Affect Moody's 'B2' Rating
BARRINGTON BROADCASTING: Bank Debt Trades at 37% Off
BASELINE OIL: Posts $52 Million Net Loss in Quarter Ended June 30

BAYSIDE SQUARE: Files Schedules of Assets and Liabilities
BAYSIDE SQUARE: Section 341(a) Meeting Scheduled for September 29
BEARINGPOINT INC: Closes Sale of Australian Consulting Business
BIO-BRIDGE SCIENCE: Posts $739,042 Net Loss in Qtr. Ended June 30
BLOCKBUSTER INC: Bank Debt Trades at 9% Off in Secondary Market

BLOSSOM VALLEY: Case Summary & 20 Largest Unsecured Creditors
BRICKWELL COMMUNITY: Closed; CorTrust Bank Assumes All Deposits
BUCKHEAD COMMUNITY: Has Not Filed Quarterly Report; Expects Loss
CABLEVISION SYSTEM: Fitch Assigns 'B-' Rating on $900 Mil. Notes
CABLEVISION SYSTEMS: Note Upsizing Won't Move Moody's 'Ba2' Rating

CABLEVISION SYSTEMS: Note Upsizing Won't Affect S&P's 'BB' Rating
CANADIAN SUPERIOR: May Exit Bankruptcy Today, Picks New Board
CATALYST CORP: Obtains PEFC Chain of Custody at Paper Mills
CDX CORP: District Court Blesses Parties' Expert Witnesses
CENA LLC: Objections to Discharge of Debts Due November 9

CERTIFICHECKS: Filed for Bankr. to Reimburse Certificate Holders
CHAMPION ENTERPRISES: First Pacific No Longer Holds Equity Stake
CHARBUCK INC: Case Summary & 20 Largest Unsecured Creditors
CHECKER MOTORS: To Pay Severance to More Than 100 Workers
CHEMTURA CORP: Kirklan & Ellis Charges $5MM for 3.5 Months Work

CHEMTURA CORP: Proposes as Baker & McKenzie as Counsel
CHEMTURA CORP: Rejects Leases With Duke Realty, et al.
CHEMTURA CORP: To Assume Sprague Energy Pact
CHRYSLER LLC: Court Stays Actions by Renegade Dealers
CHRYSLER LLC: Kenosha Workers Eligible for Aid

CHRYSLER LLC: MDL Plaintiffs Want Class Claim Allowed
CHRYSLER LLC: New Chrysler Reports 5% Sales Hike in August
CHRYSLER LLC: Old CarCo Plan Filing Deadlne Moved to Nov. 30
CHRYSLER LLC: Taxpayers May Not Likely Recoup Investment
CITADEL BROADCASTING: Bank Debt Trades at 42% Off

CITIGROUP INC: Discloses 9.5% Stake in Ness Technologies
CITIGROUP INC: Discloses Ownership of DWS Auction Rate Preferreds
CITY CAPITAL: Clarifies Related Party Transactions
CLAIRE'S STORES: Posts $3.7MM Net Loss for August 1 Quarter
CLEAR CHANNEL: Bank Debt Trades at 32% Off in Secondary Market

COMMERCECONNECT: Cygnus Expects Emergence in Two Weeks
CORUS BANK, CHICAGO: Closed; MB Financial Assumes All Deposits
COYOTES HOCKEY: Balsillie, NHL Increase Bids for Hockey Team
CRAZY KAREN'S: Closes After Failing to Pay Drink Tax
DANA HOLDING: Bank Debt Trades at 22% Off in Secondary Market

DAVID LEE WOODFILL: Case Summary & 16 Largest Unsecured Creditors
DELTA AIR: Courting Japan Airlines for Minority Stake
DENISE MYERS-BYRD: Case Summary & 20 Largest Unsecured Creditors
DOMINIC CATALANO: Case Summary & 20 Largest Unsecured Creditors
E*TRADE FIN'L: CEO Layton to Step Down; Board OKs Severance

EARL JONES CONSULTING: Owner Loses Dorval Condo to Creditors
ERICKSON CUSTOM POOLS: In Chapter 7 Liquidation
ETERNAL ENERGY: Posts $336,000 Net Loss in Quarter Ended June 30
FAIRFAX FINANCIAL: Odyssey Re Deal Won't Affect Fitch's Ratings
FAIRPOINT COMM: Bank Debt Trades at 24% Off in Secondary Market

FERRELLGAS LP: S&P Assigns 'B+' Rating on $300 Mil. Senior Debt
FORD MOTOR: Bank Debt Trades at 12.2% Off in Secondary Market
FORD MOTOR: Inks Tax Benefit Preservation Plan With Computershare
FRONTIER AIRLINES: To Emerge as Republic Unit on October 1
GARY ECKARD: Voluntary Chapter 11 Case Summary

GLOBAL CROSSING: Impsat Noteholders Agree to Relax Covenants
GLOBAL CROSSING: Prices Private Offering of $750MM of 12% Notes
GOLD & HONEY: Israeli Receivership Not Taken as Foreign Proceeding
GOLDEN NUGGET: Landry's Strategic Move Won't Affect Moody's Rating
GORAN OYDANICH: Case Summary & 19 Largest Unsecured Creditors

GREYSTONE ON PAYETTE: Disqualified Counsel Fee Application Denied
GUARANTY FINANCIAL: Court Extends Schedules Filing Until Sept. 29
GUARANTY FINANCIAL: Section 341(a) Meeting Slated for September 30
HARLAN LABORATORIES: Moody's Affirms 'B2' Corporate Family Rating
HAWKER BEECHCRAFT: Bank Debt Trades at 27% Off in Secondary Market

HUNTLEY NYCE COMPANY: Voluntary Chapter 11 Case Summary
HUNTSMAN ICI: Bank Debt Trades at 9.5% Off in Secondary Market
IDEARC INC: Bank Debt Trades at 57% Off in Secondary Market
IDEARC INC: Creditors Oppose Plan; Dec. Confirmation Hearing Set
IESI CORP: S&P Raises Long-Term Corporate Credit Rating to 'BB+'

INTERLAKE HANDLING: Summit Fights Back in Breach of Pact Lawsuit
INTERLAKE MATERIAL: NachmanHaysBrownstein Named Plan Administrator
IVIVI TECHNOLOGIES: Forbearance Ends Today; May File Bankruptcy
JMG EXPLORATION: Considers Sale or Merger to Raise Add'l. Capital
JOHNSON RENTAL PROPERTIES: Voluntary Chapter 11 Case Summary

KRISTOPHER KEMP: Voluntary Chapter 11 Case Summary
L & G GARVEY INVESTMENT: Case Summary & 4 Largest Unsec. Creditors
LANDAMERICA FIN'L: Southland Title's Schedules of Assets & Debts
LANDAMERICA FIN'L: Southland Title's Statement of Fin'l Affairs
LANDAMERICA FIN'L: Southland SD's Schedules of Assets & Debts

LANDAMERICA FIN'L: Southland SD's Statement of Fin'l Affairs
LANDAMERICA FIN'L: Southland Orange's Schedules of Assets & Debts
LANDAMERICA FIN'L: Southland Orange's Statement of Fin'l Affairs
LANDRY'S RESTAURANT: Moody's Reviews 'B2' Corporate Family Rating
LAS VEGAS SANDS: Bank Debt Trades at 22% Off in Secondary Market

LCGI FAIRFIELD LLC: Case Summary & 6 Largest Unsecured Creditors
LE-NATURE'S INC: Marc Kirschner Sues K&L Gates for Malpractice
LEAR CORP: 20 Affiliates' Schedules of Assets & Liabilities
LEAR CORP: 20 Affiliates' Statement of Financial Affairs
LEAR CORP: Liquidation Analysis Under Lear's Plan

LEAR CORP: Proposes PwC as Financial Advisor
LEHMAN BROTHERS: Fee Committee Shave 2% From $119MM in Fees
LEHMAN BROTHERS: PwC Says Euro Unit Clients Have to Wait 2 Years
LEHMAN BROTHERS: Vale Joins Line of Workers Filing Claims
LEHMAN BROTHERS: Firms Face FSA Action Over Structured Products

LNR PROPERTY: Bank Debt Trades at 36% Off in Secondary Market
LYONDELL CHEMICAL: Discontinues Aircraft Deicer Sales
MANITOWOC CO: Bank Debt Trades at 9% Off in Secondary Market
MARY ANN & DOMENIC: Gets $140,000 Offer for Maintenance Building
MCGRATH HOTELS: Maureen Clark Arrested for Tax Evasion

MDWERKS INC: June 30 Balance Sheet Upside-Down by $8.6 Million
MEDIACOM COMMUNICATIONS: Unveils Results of Cash Tender Offers
MEGA BRANDS: S&P Downgrades Corporate Credit Rating to 'CC'
MERCER INT'L: Sweetens Exchange Offer for 8.5% Notes Due 2010
METRO-GOLDWYN-MAYER: Bank Debt Trades at 45% Off

MGM MIRAGE: Extends Early Participation Date for Exchange Offer
MONAHAN FILAMENTS: Will Shut Down Middlebury Factory in November
MORRIS PUBLISHING: Obtains September 18 Extension of Forbearance
MOUNTAIN JET SERVICES: Case Summary & Unsecured Creditor
NCI BUILDING: Outlines Terms of Financial Restructuring

NCI BUILDING: Posts $3.97 Million Net Income for August 2 Quarter
NEIMAN MARCUS: Bank Debt Trades at 16.65% Off in Secondary Market
NEW ORIENTAL: Need for More Financing Threatens Going Concern
NORTEL NETWORKS: To Present Enterprise Auction Results Tomorrow
NORTH MERIDIAN CENTER: Case Summary & 4 Largest Unsec. Creditors

ORBUS PHARMA: Gets Forbearance on Debentures Until Oct. 31
PAETEC HOLDING: Board Approves Stock Repurchase Program
PETCO ANIMAL: Bank Debt Trades at 4% Off in Secondary Market
PETER SHAW: Voluntary Chapter 11 Case Summary
PNG VENTURES: Case Summary & 20 Largest Unsecured Creditors

REALOGY CORP: Bank Debt Trades at 23% Off in Secondary Market
REVLON INC: Bank Debt Trades at 6% Off in Secondary Market
REVLON INC: Extends Exchange Offer Until September 17
RHODE ISLAND: Tentative Deal With Unions to Stop State Shutdown
RICK ROSE: Case Converted to Ch. 7; Bank Wants Rockliffe Mansion

SECURITY BENEFIT: S&P Retains Negative CreditWatch on 'BB' Rating
SERVICE MASTER: Bank Debt Trades at 12.84% Off in Secondary Market
SFK PULP: S&P Affirms 'CCC+' Long-Term Corporate Credit Rating
SHUMATE INC: Case Summary & 8 Largest Unsecured Creditors
SIMMONS CO: Lenders Extend Forbearance Period Through September 30

SMURFIT-STONE: Makes Voluntary $250MM Prepayment on JPMorgan Loan
SONIC AUTOMOTIVE: Delays Effective Date of Registration Statement
SPANSION INC: Unit Closes Sale of Suzhou Facility to Powertech
STANDARD PACIFIC: Fitch Assigns 'CC/RR5' Rating on $200 Mil. Notes
STANDARD PACIFIC: S&P Raises Corporate Credit Rating to 'CCC+'

STANDARD PACIFIC: Swaps $5.2MM of 6% Notes for Common Shares
STANDARD PACIFIC: To Raise $280MM Through Issuance of 2016 Notes
STATION CASINOS: Committee Proposes Securities Trading Procedures
SUN-TIMES MEDIA: Proposes Wage-Benefit Cuts From 18 Unions
SWIFT TRANSPORTATION: Bank Debt Trades at 20.25% Off

TI ACQUISITION: Supplier Prevails in Sec. 503(b)(9) Claim Dispute
TODD'S BY THE BRIDGE: Closes After Failing to Pay Drink Tax
TRIBUNE CO: Bank Debt Trades at 55% Off in Secondary Market
TRIDENT RESOURCES: Case Summary & 2 Largest Unsecured Creditors
TRIPLE DIAMOND: Blames Chapter 11 Bankruptcy on Economic Woes

UBS AG: Workers Worried of Debt Securities, Wanted to Unload Them
US ONCOLOGY: S&P Rates $120 Mil. Revolving Facility at 'BB-'
US SHIPPING: Rand Logistics May Sweeten Offer to Acquire Assets
VENETIAN MACAU: Bank Debt Trades at 7.04% Off in Secondary Market
VENTURE BANK, LACY: First-Citizens Bank Assumes Deposits

W/C IMPORTS INC: Case Summary & 20 Largest Unsecured Creditors
WALTER B. SCOTT & SONS: Case Summary & 20 Largest Unsec. Creditors
WILLIAM LYON: Unit to Sell Gulfstream Aircraft for $8.25MM
WOODFILL DEVELOPMENT: Case Summary & 6 Largest Unsecured Creditors
YL WEST 87TH HOLDINGS: Files for Chapter 11 Bankruptcy Protection

YRC WORLDWIDE: New Penn Employees Accept Labor Contract Changes

* Another Round of Airline Bankruptcies Possible, Analysts Say
* FDIC Asks Closed Bank Buyers' to Grant Forbearance to Unemployed
* Fed Failed to Curb Flawed Lending in Two Banks, Says Reports
* 3 Banks Shuttered; Year's Bank Failures Now 92

* Canadian July Bankruptcies Rise 36% on Year, Slowing From June
* Diary of a Crisis II: Bear, Lehman and Into the Abyss

* IWIRC Seeks Woman of the Yr. in Restructuring Award Nominations

* BOND PRICING -- For The Week From September 7 to 11, 2009

                            *********

ABITIBIBOWATER INC: Bank Debt Trades at 23% Off
-----------------------------------------------
Participations in a syndicated loan under which AbitibiBowater,
Inc., is a borrower traded in the secondary market at 77.10 cents-
on-the-dollar during the week ended Sept. 11, 2009, according to
data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents a drop of 0.78 percentage points
from the previous week, The Journal relates.  The loan matures on
March 30, 2009.  The Company pays 800 basis points above LIBOR to
borrow under the facility.  The bank debt is not rated by Moody's
and Standard & Poor's.  The debt is one of the biggest gainers and
losers among widely quoted syndicated loans in secondary trading
in the week ended Sept. 11, among the 154 loans with five or more
bids.

Headquartered in Montreal, Canada, AbitibiBowater Inc. --
http://www.abitibibowater.com/-- produces a wide range of
newsprint, commercial printing papers, market pulp and wood
products.  It is the eighth largest publicly traded pulp and paper
manufacturer in the world.  AbitibiBowater owns or operates 23
pulp and paper facilities and 29 wood products facilities located
in the United States, Canada, the United Kingdom and South Korea.
Marketing its products in more than 90 countries, the Company is
also among the world's largest recyclers of old newspapers and
magazines, and has third-party certified 100% of its managed
woodlands to sustainable forest management standards.
AbitibiBowater's shares trade over-the-counter on the Pink Sheets
and on the OTC Bulletin Board under the stock symbol ABWTQ.

The Company and several of its affiliates filed for protection
under Chapter 11 of the U.S. Bankruptcy Code on April 16, 2009
(Bankr. D. Del. Lead Case No. 09-11296).  Judge Kevin J. Carey
presides over the case.  The Company and its Canadian affiliates
commenced parallel restructuring proceedings under the Companies'
Creditors Arrangement Act before the Quebec Superior Court
Commercial Division the next day.  Alex F. Morrison at Ernst &
Young, Inc., was appointed CCAA monitor.

Paul, Weiss, Rifkind, Wharton & Garrison LLP, serves as the
Debtors' U.S. bankruptcy counsel.  Stikeman Elliot LLP, acts as
the Debtors' CCAA counsel.  Young, Conaway, Stargatt & Taylor, in
Wilmington, Delaware, serves as the Debtors' co-counsel, while
Troutman Sanders LLP in New York, serves as the Debtors' conflicts
counsel in the Chapter 11 proceedings.  The Debtors' financial
advisors are Advisory Services LP, and their noticing and claims
agent is Epiq Bankruptcy Solutions LLC.  The CCAA Monitor's
counsel is Thornton, Grout & Finnigan LLP, in Toronto, Ontario.
Abitibi-Consolidated Inc. and various Canadian subsidiaries filed
for protection under Chapter 15 of the U.S. Bankruptcy Code on
April 17, 2009 (Bankr. D. Del. 09-11348).  Judge Carey also
handles the Chapter 15 case.  Pauline K. Morgan, Esq., and Sean T.
Greecher, Esq., at Young, Conaway, Stargatt & Taylor, in
Wilmington, represent the Chapter 15 Debtors.

As of Sept. 30, 2008, the Company had $9,937,000,000 in total
assets and $8,783,000,000 in total debts.

Bankruptcy Creditors' Service, Inc., publishes AbitibiBowater
Bankruptcy News.  The newsletter provides gavel-to-gavel coverage
of the Chapter 11 proceedings and parallel proceedings under the
Companies' Creditors Arrangement Act in Canada undertaken by
Abitibibowater Inc. and its various affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000).


ABITIBIBOWATER INC: Still Buying Used Material
----------------------------------------------
Kathy Lynn Gray at The Columbus Dispatch reported that bankruptcy
hasn't halted a paper-recycling program of AbitibiBowater Inc.
that provides income for hundreds of nonprofit groups in central
Ohio.  Abitibi area manager Kerry Copeland says the familiar
bright green-and-yellow Abitibi bins scattered through school,
church and business parking lots aren't going away.  "We are still
in business, we're still collecting and we're still paying our
customers," Mr. Copeland said.

Headquartered in Montreal, Canada, AbitibiBowater Inc. --
http://www.abitibibowater.com/-- produces a wide range of
newsprint, commercial printing papers, market pulp and wood
products.  It is the eighth largest publicly traded pulp and paper
manufacturer in the world.  AbitibiBowater owns or operates 23
pulp and paper facilities and 29 wood products facilities located
in the United States, Canada, the United Kingdom and South Korea.
Marketing its products in more than 90 countries, the Company is
also among the world's largest recyclers of old newspapers and
magazines, and has third-party certified 100% of its managed
woodlands to sustainable forest management standards.
AbitibiBowater's shares trade over-the-counter on the Pink Sheets
and on the OTC Bulletin Board under the stock symbol ABWTQ.

The Company and several of its affiliates filed for protection
under Chapter 11 of the U.S. Bankruptcy Code on April 16, 2009
(Bankr. D. Del. Lead Case No. 09-11296).  Judge Kevin J. Carey
presides over the case.  The Company and its Canadian affiliates
commenced parallel restructuring proceedings under the Companies'
Creditors Arrangement Act before the Quebec Superior Court
Commercial Division the next day.  Alex F. Morrison at Ernst &
Young, Inc., was appointed CCAA monitor.

Paul, Weiss, Rifkind, Wharton & Garrison LLP, serves as the
Debtors' U.S. bankruptcy counsel.  Stikeman Elliot LLP, acts as
the Debtors' CCAA counsel.  Young, Conaway, Stargatt & Taylor, in
Wilmington, Delaware, serves as the Debtors' co-counsel, while
Troutman Sanders LLP in New York, serves as the Debtors' conflicts
counsel in the Chapter 11 proceedings.  The Debtors' financial
advisors are Advisory Services LP, and their noticing and claims
agent is Epiq Bankruptcy Solutions LLC.  The CCAA Monitor's
counsel is Thornton, Grout & Finnigan LLP, in Toronto, Ontario.

Abitibi-Consolidated Inc. and various Canadian subsidiaries filed
for protection under Chapter 15 of the U.S. Bankruptcy Code on
April 17, 2009 (Bankr. D. Del. 09-11348).  Judge Carey also
handles the Chapter 15 case.  Pauline K. Morgan, Esq., and Sean T.
Greecher, Esq., at Young, Conaway, Stargatt & Taylor, in
Wilmington, represent the Chapter 15 Debtors.

As of September 30, 2008, the Company had $9,937,000,000 in total
assets and $8,783,000,000 in total debts.

Bankruptcy Creditors' Service, Inc., publishes AbitibiBowater
Bankruptcy News.  The newsletter provides gavel-to-gavel coverage
of the Chapter 11 proceedings and parallel proceedings under the
Companies' Creditors Arrangement Act in Canada undertaken by
Abitibibowater Inc. and its various affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000).


ACCURIDE CORP: Bank Debt Trades at 7.3% Off in Secondary Market
---------------------------------------------------------------
Participations in a syndicated loan under which Accuride Corp. is
a borrower traded in the secondary market at 92.70 cents-on-the-
dollar during the week ended Friday, Sept. 11, 2009, according to
data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents an increase of 0.60 percentage
points from the previous week, The Journal relates.  The loan
matures on Jan. 6, 2012.  The Company pays 225 basis points above
LIBOR to borrow under the facility.  The bank debt carries Moody's
Ca rating and Standard & Poor's C rating.  The debt is one of the
biggest gainers and losers among widely quoted syndicated loans in
secondary trading in the week ended Sept. 11, among the 154 loans
with five or more bids.

The Troubled Company Reporter stated on Sep 07, 2009, that Moody's
Investors Service lowered Accuride Corporation's Probability of
Default Rating and Corporate Family Rating to Ca\LD and Ca,
respectively.  In a related action the ratings of the company's
first-out senior secured bank credit facility were lowered to Caa2
from Caa1, the rating of the last-out senior secured bank credit
facility was lowered to Ca from Caa3, and the rating for the
senior subordinated bonds was lowered to C from Ca.

On Aug. 10, 2009, the TCR reported that Standard & Poor's Ratings
Services has lowered its corporate credit rating on commercial
vehicle parts supplier Accuride Corp. to 'D' (default) from 'CCC'
and lowered the issue-level rating on the company's senior
subordinated debt to 'D' from 'CC'.  At the same time, S&P lowered
the issue-level ratings on the company's senior secured revolving
credit facility and first-out term loan to 'CC' from 'B-'.  S&P
also lowered the issue-level rating on the company's second-out
term loan to 'C' from 'CC'

The recovery ratings on the senior secured revolving credit
facility and first-out term loan remain at '1', indicating S&P's
expectation that lenders would receive very high (90% to 100%)
recovery in the event of a payment default.  The recovery ratings
on the second-out term loan and subordinated notes remain at '6',
indicating S&P's expectation that lenders would receive negligible
(0 to 10%) recovery in the event of a payment default.

The downgrades reflect Accuride's announcement that it did not
make an $11.7 million interest payment scheduled for August 3 on
its 8.50% subordinated note due in 2015.  Under the indentures
governing the senior notes, Accuride has a 30-day grace period to
make interest payments on these notes before there is an event of
default.

Accuride Corporation, headquartered in Evansville, IN, is a
diversified North American manufacturer and supplier of commercial
vehicle components.  Principal products include wheels, wheel-end
components and assemblies, truck body and chassis parts, and
seating assemblies.  Revenues in 2008 were approximately
$931 million.


ALVIN WILLIAMS: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Joint Debtors: Alvin Williams
               Bridgette Hibbert
               13749 N.W. 18 Court
               Pembroke Pines, FL 33028

Bankruptcy Case No.: 09-29133

Chapter 11 Petition Date: September 10, 2009

Court: United States Bankruptcy Court
       Southern District of Florida (Fort Lauderdale)

Judge: Raymond B. Ray

Debtors' Counsel: Lynn H. Gelman, Esq.
                  1450 Madruga Ave #408
                  Coral Gables, FL 33146
                  Tel: (305) 668-6681
                  Fax: (305) 668-6682
                  Email: lynngelman@bellsouth.net

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

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

A full-text copy of the Debtors' petition, including a list of
their 20 largest unsecured creditors, is available for free at:

           http://bankrupt.com/misc/flsb09-29133.pdf

The petition was signed by the Joint Debtors.


AMERICAN AXLE: Barclays Analyst Hikes Stock to Overweight/Neutral
-----------------------------------------------------------------
Barclays Capital analyst Brian Johnson in Chicago said in a
September 11 report that he hiked his shares rating on American
Axle & Manufacturing Holdings Inc. to "overweight/neutral" from
"equal weight/neutral."  Financial results will beat analysts'
estimates "as early as this quarter" as full-size pickup sales
recover after the government's cash-for-clunkers incentive
program, Mr. Johnson said, according to Bloomberg News.

With the stock upgrade, American Axle jumped $1.02, or 16 percent,
to $7.34 at 4:03 p.m. in New York Stock Exchange composite
trading, Alex Ortolani at Bloomberg said on September 11.  The
shares reached the highest since Sept. 22, 2008, and have more
than doubled this year.

As reported by the TCR on September 3, 2009, American Axle entered
into a third extension of the Waiver and Amendment, dated as of
June 29, 2009 to the Credit Agreement dated as of January 9, 2004,
as amended and restated, among Holdings, AAM, JPMorgan Chase Bank,
N.A., as Administrative Agent for the lenders Lenders, and J.P.
Morgan Securities Inc. and Banc of America Securities LLC, as
Joint Lead Arrangers and Joint Bookrunners.  The Third Waiver
Extension, among other things, extends the second waiver extension
termination date of August 31 to September 15.  The Third Waiver
Extension requires AAM to maintain a daily minimum liquidity of
$75 million and can be terminated under certain circumstances,
including AAM's inability to meet the minimum liquidity test for
four consecutive business days.  Otherwise, the Waiver and
Amendment remains in full force and effect.

AAM continues to work with key stakeholders on various commercial
agreements and financing arrangements that would result in a
comprehensive long-term solution outside of bankruptcy.  The
current extension of the waiver period provides additional time to
finalize the definitive terms and conditions of such commercial
agreements and financing arrangements.

                        About American Axle

Headquartered in Detroit, Michigan, American Axle & Manufacturing
Holdings Inc. (NYSE: AXL) -- http://www.aam.com/-- is a world
leader in the manufacture, engineering, design and validation of
driveline and drivetrain systems and related components and
modules, chassis systems and metal-formed products for trucks,
sport utility vehicles, passenger cars and crossover utility
vehicles.  In addition to locations in the United States
(Michigan, New York, Ohio and Indiana), the Company also has
offices or facilities in Brazil, China, Germany, India, Japan,
Luxembourg, Mexico, Poland, South Korea, Thailand and the United
Kingdom.

                           *     *     *

American Axle carries a 'CCC' long term issuer default rating from
Fitch, a 'CCC+' issuer credit rating from Standard & Poor's, and a
'Ca' corporate family rating from Moody's.

Standard & Poor's Ratings Services said in August that its ratings
on American Axle (CCC+/Negative/--) are not immediately affected
by the company's announcement of its financial results for the
second quarter of 2009.

American Axle had assets of $1,920,600,000 against debts of
$2,656,600,000 as of June 30, 2009.


AMERICREDIT CORP: Fitch Affirms 'B-' Issuer Default Rating
----------------------------------------------------------
Fitch Ratings has affirmed the ratings of AmeriCredit Corp.:

  -- Long-term Issuer Default Rating at 'B-';
  -- Senior debt at 'B/RR3'.

Approximately $554 million of debt is affected by this action.
The Rating Outlook is Stable.

The rating affirmation reflects ACF's competitive position in the
fragmented auto finance market, experienced management team, and
consistent servicing and collections capabilities over varying
economic cycles.  These attributes are offset by limited funding
flexibility, negative asset quality trends, and reduced
profitability given extended disruptions in the capital markets
which have yielded significantly higher funding costs for the
company.

ACF completed a $725 million Term Asset-Backed Securities Loan
Facility transaction in July 2009 and was able to sell all
subordinate bonds, primarily, to traditional asset-backed
securities investors.  Fitch views this transaction as an
encouraging step; however, it remains unclear whether the company
will be able to economically access the ABS markets beyond the
expiration of the TALF program in March 2010.  Furthermore, the
senior subordinate transaction had initial enhancement levels of
28.1%.  Given the higher enhancement levels, Fitch expects the
company to operate with higher capitalization levels going
forward, which will limit its growth opportunities and could put
the company at a competitive disadvantage when asset quality
trends improve.

In March 2009, ACF successfully renegotiated the covenants of its
master warehouse facility and extended the term until March 2010
in exchange for additional credit enhancement and a 700-basis
point increase in the cost of funds.  The borrowing capacity was
reduced from $2.25 billion to $1.1 billion in March and further to
$1 billion in July in order to align borrowing capacity with
origination levels.  Fitch believes the company will be able to
renew and/or extend this facility in March; however, pricing
and/or terms could be adjusted further.  The higher funding costs
will continue to pressure ACF's profitability prospects relative
to historical levels.

The Stable Outlook reflects the expectation that ACF will be able
to meet its debt service obligations for the foreseeable future
and that current liquidity and capitalization are adequate for the
rating category.  Negative rating action could result from
material deterioration in the performance of more recent vintages
that negatively affects the company's profitability.  Conversely,
positive rating momentum could result from the ability to
economically access the ABS markets on a consistent basis beyond
the expiration of the TALF program, the renewal of the warehouse
facility at a level which will provide competitive and operating
flexibility, an improvement in asset quality metrics, and an
ability to post consistent core operating earnings.


AMR CORP: Aims for Expansive Joint Venture With Japan Airlines
--------------------------------------------------------------
AMR Corp. is in talks with Japan Airlines Corp. to forge an
expansive joint venture with the carrier, Mike Esterl at The Wall
Street Journal reports, citing people familiar with the matter.

The Journal says that American Airlines would also consider taking
a minority stake in JAL, although any such investment would likely
be capped at hundreds of millions of dollars.  The report states
that American Airlines, which doesn't have a hub in Japan, relies
on JAL.  The two airlines, says the report, have had code-sharing
deals since the 1990s.

According to The Journal, AMR is trying to keep JAL away from
Delta Air Line Inc.  The Journal says that Delta is negotiating to
acquire a minority stake of around $300 million in JAL.  The
Journal relates that Delta wants JAL to join its rival SkyTeam
alliance.

Headquartered in Forth Worth, Texas, AMR Corporation (NYSE:
AMR) operates with its principal subsidiary, American Airlines
Inc. -- http://www.aa.com/-- a worldwide scheduled passenger
airline.  At the end of 2006, American provided scheduled jet
service to about 150 destinations throughout North America, the
Caribbean, Latin America, including Brazil, Europe and Asia.
American is also a scheduled airfreight carrier, providing
freight and mail services to shippers throughout its system.

Its wholly owned subsidiary, AMR Eagle Holding Corp., owns two
regional airlines, American Eagle Airlines Inc. and Executive
Airlines Inc., and does business as "American Eagle."  American
Beacon Advisors Inc., a wholly owned subsidiary of AMR, is
responsible for the investment and oversight of assets of AMR's
U.S. employee benefit plans, as well as AMR's short-term
investments.

AMR Corp. reported a net loss of $390 million for the second
quarter of 2009, or $1.39 per share.  At June 30, 2009, the
Company had $24.1 billion in total assets; $8.2 billion in total
current liabilities, $8.3 billion in long- term debt, less current
maturities, $572 million in obligations under capital leases, less
current obligations, $6.8 billion in pension and postretirement
benefits, and $3.1 billion in other liabilities, deferred gains
and deferred credits; resulting in a $3.0 billion stockholders'
deficit.

Following the release of AMR's second quarter results, Standard &
Poor's Ratings Services placed its ratings, including the 'B-'
corporate credit ratings, on AMR Corp. and its American
Airlines Inc. subsidiary, on CreditWatch with negative
implications, due to concerns about revenue generation and
liquidity.

Fitch Ratings has affirmed issuer default rating of AMR Corp. and
its principal operating subsidiary American Airlines, Inc. at
'CCC'.


ANNIE LEIBOVITZ: Has Deal With Art Capital on Loan Payment Delay
----------------------------------------------------------------
Annie Leibovitz and Art Capital Group have reached an agreement
regarding a restructuring of the celebrity photographer's
$24 million debt to Art Capital and the dismissal of the lawsuit
filed by the lender against her.

According to a joint statement, the agreement will result in the
withdrawal of the suit that Art Capital filed against
Ms. Leibovitz on July 29, 2009 and extends the maturity date for
the $24 million loan Art Capital provided Ms. Leibovitz, which was
originally due on September 8, 2009.  Ms. Leibovitz has also
purchased from Art Capital its rights to act as exclusive agent in
the sale of her real property and copyrights.  Ms. Leibovitz will
therefore retain control of those assets within the context of the
loan agreement which shall prevail until satisfied.

As reported by the Troubled Company Reporter on September 7, 2009,
Justice Bernard Fried of the New York State Supreme Court gave
Ms. Leibovitz until October 1 to respond to the lawsuit filed by
Art Capital Group against her.  As a result, Ms. Leibovitz will
have an extra month to deal with her financial woes.

Art Capital Group, in September 2008, gave the celebrity
photographer access to a $24 million loan, backed by rights to her
photograph and real estate in New York.  Their agreement was that
Art Capital would be the "irrevocable, exclusive agent" for the
sale of her works and property for the loan's length and for two
years after she pays it off.

Ms. Leibovitz has been unable to pay off the loan.  Art Capital
has sued Ms. Leibovitz before the New York State Supreme Court,
New York County, in Manhattan (Case No. 09-602334), for breach of
contract, claiming that Ms. Leibovitz has not cooperated with the
sale of her photographs and has not granted access to the real
estate backing the loans.

According to an August 5 report by Bloomberg News, Thomas Kline,
Esq., a partner at Andrews Kurth, which specializes in art law and
litigation, said that filing for bankruptcy rather than
challenging the lawsuit, may be better legal strategy for
Ms. Leibovitz.

Mr. Kline, Bloomberg relates, said that while a bankruptcy filing
would make Ms. Leibovitz's finances public, it would stay the
lawsuit while she considers her options.  According to Mr. Kline,
the bankruptcy court may be "may be more attuned to fairness
issues with regard to her and to all her creditors."

Annie Leibovitz, 59, is the creator of famous photographs
including a nude of John Lennon in a fetal position with Yoko Ono,
and a portrait of a pregnant, naked Demi Moore published on the
cover of Vanity Fair magazine.


ASARCO LLC: Sterlite Sweetens Bid, Topping Grupo Mexico
-------------------------------------------------------
Debarati Roy at Bloomberg News reports that Sterlite Industries
(India) Ltd. topped rival Grupo Mexico's offer for the U.S.
copper miner by almost 3 percent.  The offer was increased to
$2.57 billion in cash from $2.14 billion, Mumbai-based Sterlite,
India's largest copper producer, said September 11 in a statement
to the National Stock Exchange.  Grupo Mexico had offered
$2.5 billion last month.

As reported by the TCR on September 2, 2009, Judge Richard S.
Schmidt of the U.S. Bankruptcy Court for the Southern District of
Texas recommended to District Court Judge Andrew S. Hanen to
confirm the Plan of Reorganization proposed by Asarco Incorporated
and Americas Mining Corporation for ASARCO LLC and its debtor
affiliates.

The Parent's Plan, valued at $3.6 billion, complies with all of
the requirements of the Bankruptcy Code and should be confirmed,"
Judge Schmidt said in his 137-page report and recommendation dated
August 31, 2009.  "Confirmation of the Debtors' Plan should be
denied," he added.

Judge Schmidt's recommendation came after a two-week hearing on
the Plans of Reorganization filed by each of ASARCO LLC and Asarco
Inc. and AMC.  Judge Schmidt has also recommended that the
District Court issue all injunctions set forth in the Parent's
Plan.

Judge Hanen is expected to rule on the Plan in November 2009.  The
Debtors are expected to emerge from bankruptcy by the end of 2009
should Judge Hanen accept the Bankruptcy Court's recommendation,
Grupo Mexico SAB de C.V., AMC's ultimate parent, said in a press
release.

ASARCO LLC has been battling against its estranged parent, Asarco
Inc. and AMC, as to whose plan should be best for the Debtors and
the bankruptcy estates.  ASARCO LLC's reorganization plan is
backed by Sterlite (USA) Inc.'s bid.  Both plans by ASARCO LLC and
Grupo Mexico propose to pay all Allowed Claims in full.  The
ASARCO Plan has gained support from the United Steelworkers of
America, and other key parties, including creditors, the Arizona
Attorney General, and state legislators.

Both Plans are confirmable, Judge Schmidt said in his ruling, but
decided that the Parent Plan is superior.

                      Plan Feasibility Issues

Judge Schmidt, in his ruling, noted that although both the Parent
and the Debtors' Plans are feasible, both Plans raise feasibility
issues.  Judge Schmidt pointed out that the Parent Plan:

  -- failed to reach a collective bargaining agreement with the
     Union, which could result in a crippling strike;

  -- saddles the reorganized Debtor with obligations requiring
     it to upstream dividends and sales proceeds to the Parent
     to pay off the borrowing facility used to fund the Plan;
     and

  -- would hold ASARCO LLC liable for any creditor shortfall.

On the other hand, Judge Schmidt pointed out that support for the
future operation of the reorganized Debtor under the Debtors' Plan
relies on the good graces of Sterlite and not on any legal
commitment.

Reorganized ASARCO, Judge Schmidt, however, found, under the
Parent Plan, has sufficient financial resources so that the
confirmation and consummation of the Parent Plan is not likely to
be followed by liquidation, or the need for further financial
reorganization, of reorganized ASARCO.

A full-text copy of Judge Schmidt's Recommendation is available
for free at:

   http://bankrupt.com/misc/ASARCO_Recommendation_083109.pdf

Pursuant to Section 157(d) of the Judicial and Judiciary
Procedures Code, Judge Andrew S. Hanen of the U.S. District Court
for the Southern District of Texas granted the joint request of
the Debtors, Americas Mining Corporation, Asarco Incorporated, the
Official Committee of Asbestos Claimants, the Future Claims
Representative, and the Official Committee of Unsecured Creditors
to withdraw the reference regarding confirmation proceedings and
related requests for injunction.

                        About ASARCO LLC

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

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

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

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

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

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

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

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


ASHLEY GLEN: Hearing on October 7 for Mansion Appraisal
-------------------------------------------------------
Laura Kinsler at The Tampa Tribune reports that the Bankruptcy
Court will convene a hearing on October 7 in connection with
developer Douglas Weiland's proposed Chapter 11 plan for his
Ashley Glen project.  Under the proposed plan, Mr. Weiland
proposes to pay of $21 million in debts for three Pasco real
estate developments through a transfer or sale of Ashley Glen,
which he says is worth $37 million.  Mercantile Bank holds liens
on the three properties Ashley Glen, Summit View and Riverwood
Estates.

According to The Tampa Tribune, Mercantile Bank disputes
Mr. Weiland's appraisal and filed a formal objection to his
Chapter 11 plan.  "They consider it to be a $37 million asset,"
bank attorney Stanford Solomon said.  "We think that the value of
Ashley Glen is -- on a good day -- $8 million.  That's assuming
you can find a buyer."

Ashley Glen LLC owns a 260-acre mixed-use project, named Ashley
Glen and planned for the northeast intersection of State Road 54
and the Suncoast Parkway in Pasco County.  The Company and two
affiliates filed for Chapter 11 bankruptcy protection on June 25,
2009 (Bankr. M.D. Fla. Case No. 09-13611).  Alberto F Gomez, Jr.,
Esq., who has an office in Tampa, Florida, assists the Debtors in
their restructuring efforts.  Ashley Glen listed $10 million to
$50 million in assets and $10 million to $50 million in debts.


AVIS BUDGET: Bank Debt Trades at 10.25% Off in Secondary Market
---------------------------------------------------------------
Participations in a syndicated loan under which Avis Budget Car
Rental LLC is a borrower traded in the secondary market at 89.75
cents-on-the-dollar during the week ended Friday, Sept. 11, 2009,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 0.63
percentage points from the previous week, The Journal relates.
The loan matures on April 1, 2012.  The Company pays 125 basis
points above LIBOR to borrow under the facility.  The bank debt
carries Moody's Ba3 rating and Standard & Poor's CCC+ rating.  The
debt is one of the biggest gainers and losers among widely quoted
syndicated loans in secondary trading in the week ended Sept. 11,
among the 154 loans with five or more bids.

Based in Parsippany, New Jersey, Avis Budget Group, Inc., provides
car and truck rentals and ancillary services to businesses and
consumers in the United States and internationally.

As reported by the Troubled Company Reporter on April 30, 2009,
Standard & Poor's Ratings Services assigned a '6' recovery rating
to Avis Budget Car Rental LLC's (CCC+/Developing/--) unsecured
notes, indicating expectations of negligible (0%-10%) recovery of
principal in the event of a payment default.  Avis Budget Car
Rental LLC is a subsidiary of Avis Budget Group, Inc.
(CCC+/Developing/--).


B&G FOODS: S&P Puts 'B' Corp. Rating on CreditWatch Positive
------------------------------------------------------------
Standard & Poor's Ratings Services said that it placed its ratings
on Parsippany, New Jersey-based B&G Foods Inc., including its 'B'
corporate credit rating, on CreditWatch with positive
implications.  As of July 4, 2009, B&G had about $536 million of
total debt.

"The CreditWatch listing is based on the potential for debt
reduction and corresponding improvement in credit measures at B&G
subsequent to a successful completion of the company's recently
announced proposed equity offering," said Standard & Poor's credit
analyst Christopher Johnson.  B&G plans to offer 9 million shares
of Class A common stock, proceeds of which could be used for
general corporate purposes, which may include repayment of long-
term debt.  As a result, S&P sees the potential for improving
credit measures over the near-term.  Assuming proceeds are applied
to debt reduction and based on B&G's current share price, S&P
estimate leverage could decline below 5x, compared with about 5.7x
for the 12 months ended July 4, 2009.

The CreditWatch placement means that S&P could affirm or raise the
ratings following the completion of S&P's review, which will focus
on the company's financial policy and prospects for improving
credit measures.  Standard & Poor's will meet with management to
further discuss B&G's financial policies and operating trends in
order to resolve the CreditWatch listing.


B&G FOODS: Stocks Issuance Won't Affect Moody's 'B2' Rating
-----------------------------------------------------------
Moody's Investors Service commented that the planned issuance of
9 million Class A common stock shares by B&G Foods, Inc. has not
at this time had an impact on the company's B2 corporate family
rating or its stable outlook.  Moody's will monitor the receipt of
proceeds, likely to approximate $80 million if the issue is not
increased, and the extent to which proceeds are applied to debt
reduction.  Moody's will also monitor the extent to which B&G may
make other improvements in its capital structure in the context of
a recent bank amendment.

B&G's plan to strengthen its capital structure is a credit
positive.  The company has stated that common stock issuance
proceeds will be used for general corporate purposes, such as the
repayment or retirement of a portion of its $535.8 million long
term debt, including its 8% senior notes due 2011 or its 12%
senior subordinated notes due 2016.  Given B&G's history of
acquisitions and an aggressive dividend policy, Moody's remains
cautious about the future profile of the company but would likely
consider a positive outlook at the conclusion of B&G's capital
market activities.

In August 2009, B&G obtained an amendment under its senior secured
bank credit agreement that allows the company, subject to certain
restrictions, to repurchase or redeem or refinance its 12% senior
subordinated notes or exchange the notes for Class A common
shares.  B&G now has more flexibility to potentially replace or
retire this high cost debt instrument and ultimately boost
margins.

However, the company has an aggressive dividend policy under which
a substantial portion of excess free cash flow is distributed as
dividends, up to the dividend payout rate set by B&G's board.  As
a result of this policy, B&G has retained little cash flow for
debt reduction.  In addition, there remains the event risk of
future acquisitions by this company that has grown by
acquisitions.

Moody's most recent rating action on August 1, 2007, upgraded the
rating of B&G's senior unsecured notes, affirmed the company's
other ratings including its B2 corporate family and probability of
default ratings, and maintained a stable outlook.

B&G Foods, Inc., based in Parsippany, New Jersey, is a
manufacturer and distributor of shelf-stable branded food products
including Cream of Wheat and Cream of Rice, Ortega, Maple Grove
Farms of Vermont, and Bloch & Guggenheimer.  Revenues for the
twelve months ended July 4, 2009, were approximately $493 million.


BARRINGTON BROADCASTING: Bank Debt Trades at 37% Off
----------------------------------------------------
Participations in a syndicated loan under which Barrington
Broadcasting Group LLC is a borrower traded in the secondary
market at 63.20 cents-on-the-dollar during the week ended Friday,
Sept. 11, 2009, according to data compiled by Loan Pricing Corp.
and reported in The Wall Street Journal.  This represents an
increase of 1.40 percentage points from the previous week, The
Journal relates.  The loan matures on Aug. 7, 2013.  The Company
pays 225 basis points above LIBOR to borrow under the facility.
The bank debt carries Moody's B3 rating and Standard & Poor's CCC+
rating.  The debt is one of the biggest gainers and losers among
widely quoted syndicated loans in secondary trading in the week
ended Sept. 11, among the 154 loans with five or more bids.

As reported in the Troubled Company Reporter on July 28, 2009,
Standard & Poor's revised its recovery rating on Barrington
Broadcasting Group LLC's secured credit facilities to '3' from
'2'.  The '3' recovery rating indicates the expectation for
meaningful (50% to 70%) recovery in the event of a payment
default.  S&P also lowered the issue-level rating on this debt to
'CCC+' (at the same level as the 'CCC+' corporate credit rating on
parent Barrington Broadcasting LLC) from 'B-', in accordance with
S&P's notching criteria for a '3' recovery rating.

As reported in the Troubled Company Reporter on April 8, 2009,
Moody's Investors Service changed the probability of default
rating for Barrington Broadcasting Group LLC to Caa1 from Caa1/LD
and upgraded the rating on its senior subordinated bonds to Caa3
from C.

Barrington Broadcasting Group LLC, headquartered in Hoffman
Estates, Illinois, owns or programs 23 network television stations
in 15 markets.  Its net revenue for the year ended Dec. 31, 2008,
was $119 million.


BASELINE OIL: Posts $52 Million Net Loss in Quarter Ended June 30
-----------------------------------------------------------------
Baseline Oil & Gas Corp. posted a net loss of $52,069,582 for
three months ended June 30, 2009, compared with a net loss of
$8,824,449 for the same period in 2008.

For three months ended June 30, 2009, the Company posted a net
loss of $58,262,133 compared with a net loss of $12,700,449 for
the same period in 2008.

The Company's balance sheet at June 30, 2009, showed total assets
of $80,053,903 and total liabilities of $138,913,478, resulting in
a stockholders' deficit of $58,859,575.

A full-text copy of the Company's Form 10-Q is available for free
at http://ResearchArchives.com/t/s?44a2

Baseline Oil & Gas Corp. is an independent oil and natural gas
company engaged in the exploration, production, development,
acquisition and exploitation of natural gas and crude oil
properties.  The Company has interests in three core areas: the
Eliasville Field located in Stephens County in North Texas; the
Blessing Field in Matagorda County located onshore along the Texas
Gulf Coast, and the New Albany Shale play located in Southern
Indiana.  Its core properties cover approximately 39,945 net
acres. As of December 31, 2008, the Company's proved reserves were
60.2 billion cubic feet equivalent (Bcfe), of which 46.5% were
natural gas and 68.2% were proved developed.  During the year
ended December 31, 2008, it produced 2.8 Bcfe and had a proved
reserve reduction of 6.7 Bcfe as a result of reserve revisions.

Baseline Oil filed a voluntary petition for reorganization under
Chapter on Aug. 28, 2009 (Bankr. S.D. Tex. Case No. 09-36291).
Attorneys at Thompson & Knight LLP represent Baseline Oil in its
restructuring effort.


BAYSIDE SQUARE: Files Schedules of Assets and Liabilities
---------------------------------------------------------
Bayside Square LLC filed with the U.S. Bankruptcy Court for the
Western District of Washington its schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property               $20,700,000
  B. Personal Property                $1,432
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $8,232,000
  E. Creditors Holding
     Unsecured Priority
     Claims                                          $52,950
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                         $749,823
                                 -----------     -----------
        TOTAL                    $20,701,432      $9,034,773

Corona del Mar, California-based Bayside Square LLC has a real
estate business.  The Company filed for Chapter 11 on Aug. 26,
2009 (Bankr. W.D. Wash. Case No. 09-18716).  Mark D. Northrup,
Esq., represents the Debtor in its restructuring effort.  In its
petition, the Debtor listed $10,000,001 to $50,000,000 in assets
and $100,001 to $10,000,000 in debts.


BAYSIDE SQUARE: Section 341(a) Meeting Scheduled for September 29
-----------------------------------------------------------------
The U.S. Trustee for Region 18 will convene a meeting of creditors
in Bayside Square LLC's Chapter 11 case on Sept. 29, 2009, at
10:00 a.m.  The meeting will be held at the US Courthouse, Room
4107, 700 Stewart St, Seattle, Washington.

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.

Corona del Mar, California-based Bayside Square LLC has a real
estate business.  The Company filed for Chapter 11 on Aug. 26,
2009 (Bankr. W.D. Wash. Case No. 09-18716).  Mark D. Northrup,
Esq., represents the Debtor in its restructuring effort.  In its
petition, the Debtor listed $10,000,001 to $50,000,000 in assets
and $100,001 to $10,000,000 in debts.


BEARINGPOINT INC: Closes Sale of Australian Consulting Business
---------------------------------------------------------------
BearingPoint Australia Pty. Limited, a wholly owned subsidiary of
BearingPoint, Inc., on August 6, 2009, entered into a Business
Sale Agreement with BPA MBO Pty Limited, BPA MBO Asset Pty Limited
(as trustee for the BPA MBO Asset Unit Trust), BPA MBO Services
Pty Limited and BPA MBO Trading Pty Limited for the sale of the
Company's consulting business in Australia to local management.

Pursuant to the Australian Business Sale Agreement, the MBO team
agreed to purchase the business of BearingPoint Australia through
the purchase and assumption of certain assets and liabilities of
BearingPoint Australia and for a purchase price of AU$1,000
(exclusive of Australian Goods and Services Tax).

Additional fees are payable by the MBO team pursuant to a
Trademark License Agreement and Cross-License Agreement.  The
BearingPoint Australia Transaction was completed on September 4,
2009.

                            Asset Sales

The Company is pursuing the sale of all or substantially all of
its businesses and assets to a number of parties.  The Company
expects that the sale transactions will result in modification of
the plan of reorganization originally filed with the Bankruptcy
Court on February 18, 2009 and, if the Company is successful in
selling all or substantially all of its assets, in the liquidation
of the Company's business and the Company ceasing to operate as a
going concern.

On April 2, BearingPoint International Bermuda Holdings Limited,
BearingPoint's indirect subsidiary, entered into a Share Sale
Agreement with PwC Advisory Co., Ltd., the Japanese member firm of
the PricewaterhouseCoopers global network of firms, for the sale
of BearingPoint's consulting business in Japan to PwC Japan for
roughly $45 million.  In addition, PwC Japan assumed the
intercompany debt owed by certain non-debtor subsidiaries of
BearingPoint to BearingPoint Co., Ltd. (Chiyoda-ku).  The closing
of the PwC Japan Transaction occurred on May 11.

On May 8, 2009, BearingPoint closed the sale of a significant
portion of its assets related to BearingPoint's North American
Public Services business to Deloitte LLP.  BearingPoint received
net proceeds of roughly $329.3 million.

On April 17, BearingPoint and certain of its subsidiaries entered
into an Asset Purchase Agreement with PricewaterhouseCoopers LLP
pursuant to which BearingPoint agreed to sell a substantial
portion of its assets related to its North American Commercial
Services business unit, including Financial Services, to PwC and
PwC agreed to assume certain liabilities associated with the
assets.  In addition, affiliates of PwC also entered into
definitive agreements to purchase the equity interests of
BearingPoint Information Technologies (Shanghai) Limited, a
subsidiary of BearingPoint that operates a global development
center in China, and certain assets of a separate global
development center in India.

On June 15, 2009, BearingPoint closed the sale of their Commercial
Services Business to PwC.  The purchase price for the PwC U.S.
Transaction was $39 million.  BearingPoint also sold BearingPoint
China GDC to PwC, and anticipates closing the China Transaction
and the PwC India Transaction will close within the next several
months; however, there can be no assurance that the transactions
will be completed.

On July 23, BearingPoint won approval to sell to CSC Brazil
Holdings LLC and Computer Sciences Corporation its consulting
business in Brazil.  CSC agreed to purchase BearingPoint, S.A.,
through the purchase of all issued and outstanding shares of
common stock of BearingPoint Brazil, for a purchase price of
US$7.9 million.  The consummation of the Brazil Transaction was to
occur on or prior to August 7.

As reported by the Troubled Company Reporter on September 7, 2009,
BearingPoint completed the sale of the Company's Europe, Middle
East and Africa practice to its European management team for an
aggregate price of approximately US$69 million in total
consideration.

                         About BearingPoint

BearingPoint, Inc. -- http://www.BearingPoint.com/-- was one of
the world's largest providers of management and technology
consulting services to Global 2000 companies and government
organizations in more than 60 countries worldwide.  Based in
McLean, Va., BearingPoint -- a former consulting arm of KPMG LLP -
- has approximately 15,000 employees focusing on the Public
Services, Commercial Services and Financial Services industries.
The Company's service offerings are designed to help clients
generate revenue, increase cost-effectiveness, manage regulatory
compliance, integrate information and transition to "next-
generation" technology.

BearingPoint, Inc., fka KPMG Consulting, Inc., together with its
units, filed for Chapter 11 protection on February 18, 2009
(Bankr. S.D.N.Y., Case No. 09-10691).  Alfredo R. Perez, Esq., at
Weil Gotshal & Manges LLP, in Houston; Marcia J. Goldstein, Esq.,
Ronit J. Berkovich, Esq., and Jose R. Alcantar, Esq., at Weil
Gotshal & Manges LLP, in New York, represent the Debtors as
restructuring counsel.  AlixPartners, LLP, is the Debtors'
restructuring advisors.  Greenhill & Co., LLC, is the Debtor's
financial advisor & investment banker.  Jeffrey S. Sabin, Esq., at
Bingham McCutchen LLP represents the Creditors' Committee as
counsel.

BearingPoint disclosed total assets of $1,762,689,000, and debts
of $2,231,839,000 as of September 30, 2008.


BIO-BRIDGE SCIENCE: Posts $739,042 Net Loss in Qtr. Ended June 30
-----------------------------------------------------------------
Bio-Bridge Science, Inc., reported a net income of $739,042 for
three months ended June 30, 2009, compared with a net loss of
$205,185 for the same period in 2008.

For six months ended June 30, 2009, the Company reported a net
income of $720,940 compared with a net loss of $493,031 for the
same period in 2008.

The Company's balance sheet at June 30, 2009, showed total assets
of $6,457,394, total liabilities of $512,449 and a stockholders'
equity of $5,944,945.

A full-text copy of the Company's Form 10-Q is available for free
at http://ResearchArchives.com/t/s?449e

On June 19, 2009, Weinberg & Company, P.A., in Boca Raton,
Florida, expressed substantial doubt about Bio-Bridge Science,
Inc.'s ability to continue as a going concern after auditing the
Company's financial statements for the fiscal years ended
March 31, 2009, and 2008.  The auditor noted that the Company
incurred a net loss and has a working capital deficit of
$31,976,507 at March 31, 2009.

                  About Bio-Bridge Science, Inc.

Bio-Bridge Science, Inc. (OTC:BGES) is a biotech company.  The
Company is focused on the commercial development of biological
products for the prevention and treatment of human infectious
diseases and production material in producing vaccines.  It
focuses on developing and obtaining regulatory approval for
commercial sale of the vaccines, including a Human
Immunodeficiency Virus vaccine, a vaccine designed to prevent and
treat infection by the human immunodeficiency virus; an HPV
vaccine, a colon cancer therapeutic vaccine and other related
potential products.  The Company also sells bovine serum, a major
production material in producing vaccines, through its 51% owned
subsidiary, Huhhot Xinheng Baide Biotechnology Co., Ltd.


BLOCKBUSTER INC: Bank Debt Trades at 9% Off in Secondary Market
---------------------------------------------------------------
Participations in a syndicated loan under which Blockbuster, Inc.,
is a borrower traded in the secondary market at 91.29 cents-on-
the-dollar during the week ended Friday, Sept. 11, 2009, according
to data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents an increase of 0.98 percentage
points from the previous week, The Journal relates.  The loan
matures Aug. 20, 2011.  The Company pays 375 basis points above
LIBOR to borrow under the facility.  The bank debt carries Moody's
B1 rating and Standard & Poor's CCC+ rating.  The debt is one of
the biggest gainers and losers among widely quoted syndicated
loans in secondary trading in the week ended Sept. 11, among the
154 loans with five or more bids.

Blockbuster, Inc., headquartered in Dallas, Texas, is a leading
global provider of in-home movie and game entertainment with
approximately 7,400 stores throughout the Americas, Europe, Asia,
and Australia.  Revenues are about $5.3 billion.

As reported by the Troubled Company Reporter, in April 2009,
Moody's Investors Service downgraded Blockbuster's Probability of
Default Rating to Caa3 from Caa1 and its Corporate Family Rating
to Caa2 from Caa1.  In addition, Moody's affirmed Blockbuster's
speculative grade liquidity rating at SGL-4 and it secured bank
credit facilities rating at B1.  Moody's also rated the proposed
$250 million revolving credit facility, which expires in September
2010, a senior secured rating of B1.  The rating outlook is
stable.

Standard & Poor's Ratings Services lowered its corporate credit
rating on Blockbuster to 'CCC' from 'B-'.  S&P removed the ratings
from CreditWatch with negative implications, where they were
placed on March 4, 2009.  At the same time, S&P lowered the issue-
level ratings on both its secured debt to 'CCC+' from 'B' and its
subordinated debt to 'CC' from 'CCC'.  The outlook is negative.

Fitch Ratings affirmed Blockbuster's long-term Issuer Default
Rating at 'CCC' and said it expects to rate the amended
$250 million bank credit facility at 'B/RR2'.  In addition, Fitch
took these rating actions ($450 million bank credit facility
upgraded to 'B/RR2' from 'CCC+/RR3'; $100 million term A loan
upgraded to 'B/RR2' from 'CCC+/RR3'; $550 million term B loan
upgraded to 'B/RR2' from 'CCC+/RR3'; and $300 million senior
subordinated notes downgraded to 'C/RR6' from 'CC/RR6'.  The
Rating Outlook is Stable.  The company had approximately
$818 million of debt outstanding as of Jan. 4, 2009.

The Troubled Company Reporter stated on Aug. 18, 2009,
Blockbuster, Inc., reported a net loss of $36.9 million for the 13
weeks ended July 5, 2009, compared to a net loss of $41.9 million
for the same period ended July 6, 2008.  Blockbuster reported a
net loss of $9.2 million for the 26 weeks ended July 5, 2009, from
net income of $3.5 million for the same period ended July 6, 2008.


BLOSSOM VALLEY: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Blossom Valley Investors, Inc., a California Corporation
        1475 Saratoga Avenue #250
        San Jose, CA 95129

Case No.: 09-57669

Debtor-affiliate filing separate Chapter 11 petition:

        Entity                                     Case No.
        ------                                     --------
Pear Avenue Investors LLC                          09-57670

Chapter 11 Petition Date: September 10, 2009

Court: United States Bankruptcy Court
       Northern District of California (San Jose)

Debtor's Counsel: Joseph R. Dunn, Esq.
                  Mintz Levin Cohn Ferris Glovsky Popeo PC
                  3580 Carmel Mountain Rd. #300
                  San Diego, CA 92130
                  Tel: (858) 314-1500
                  Email: jrdunn@mintz.com

                  Jeffry A. Davis, Esq.
                  3580 Carmel Mountain Rd. #300
                  San Diego, CA 92130
                  Tel: (858) 314-1500
                  Fax: (858) 314-1501

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

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

The petition was signed by Alan Pinn, the company's president.

Blossom Valley Investors' List of 20 Largest Unsecured Creditors:

  Entity                       Nature of Claim        Claim Amount
  ------                       ---------------        ------------
A&K Quality Drywall Inc.       Disputed               $153,823

A-1 Door and Building                                 $32,331
Solutions

Advanced Automatic Sprinkler                          $127,093

Atlantic Concrete                                     $31,205

Cloverleaf Construction Co.    Disputed               $93,573

Elegant Surfaces                                      $35,446

Galante Brothers                                      $31,661

Groundworks                    Disputed               $337,254
2145 Elkins Way, Ste. B
Brentwood, CA 94513

HMH Incorporated               Disputed               $115,723

JC Heating & Air Conditioning                         $45,508

Jim Henry Construction                                $52,126

Mike McCall                                           $511,737
4749 Clayton Road
Concord, CA 94521

Nunes Electric                 Disputed               $119,512

Purcell Murray Builder Sales                          $28,890

Robert Maclean                                        $97,443

Sanco Pipelines                                       $31,927

Summit Plastering                                     $71,120

Technibuilders Iron Inc.       Disputed               $123,944

Terrasearch                                           $36,068

West Cabinets                                         $77,177


BRICKWELL COMMUNITY: Closed; CorTrust Bank Assumes All Deposits
---------------------------------------------------------------
Brickwell Community Bank, Woodbury, Minnesota, was closed
September 11 by the Minnesota Department of Commerce, which
appointed the Federal Deposit Insurance Corporation as receiver.
To protect the depositors, the FDIC entered into a purchase and
assumption agreement with CorTrust Bank N.A., Mitchell, South
Dakota, to assume all of the deposits of Brickwell Community Bank.

Depositors of Brickwell Community Bank will automatically become
depositors of CorTrust Bank.  Deposits will continue to be insured
by the FDIC, so there is no need for customers to change their
banking relationship to retain their deposit insurance coverage.
Customers should continue to use their existing branch until
CorTrust Bank can fully integrate the deposit records of Brickwell
Community Bank.

As of July, 24, 2009, Brickwell Community Bank had total assets of
$72 million and total deposits of approximately $63 million.
CorTrust Bank will pay the FDIC a premium of 0.10 percent to
assume all of the deposits of Brickwell Community Bank.  In
addition to assuming all of the deposits of the failed bank,
CorTrust Bank agreed to purchase essentially all of the assets.

The FDIC and CorTrust Bank entered into a loss-share transaction
on approximately $65 million of Brickwell Community Bank's assets.
CorTrust Bank will share in the losses on the asset pools covered
under the loss-share agreement.  The loss-sharing arrangement is
projected to maximize returns on the assets covered by keeping
them in the private sector.  The agreement also is expected to
minimize disruptions for loan customers.

Customers who have questions about the transaction can call the
FDIC toll-free at 1- 800-815-0268.  Interested parties can also
visit the FDIC's Web site at:

   http://www.fdic.gov/bank/individual/failed/brickwell-mn.html

The FDIC estimates that the cost to the Deposit Insurance Fund
(DIF) will be $22 million.  CorTrust Bank's acquisition of all the
deposits was the "least costly" resolution for the FDIC's DIF
compared to alternatives.  Brickwell Community Bank is the 91st
FDIC-insured institution to fail in the nation this year, and the
third in Minnesota.  The last FDIC-insured institution closed in
the state was Mainstreet Bank, Forest Lake, on August 28, 2009.


BUCKHEAD COMMUNITY: Has Not Filed Quarterly Report; Expects Loss
----------------------------------------------------------------
Buckhead Community Bancorp, Inc., has yet to file its quarterly
report on Form 10-Q for the period ended June 30, 2009, with the
Securities and Exchange Commission.

The Quarterly Report was originally due by August 14, 2009.  In a
regulatory filing in August, the Company said it could not file
the report by the deadline without unreasonable effort or expense,
because it has been unable to complete the preparation of its
financial statements within the prescribed time period.

The Company explained the delay in completing the financial
statements is primarily due to an ongoing internal analysis of a
portion of the loan portfolio Company's wholly-owned banking
subsidiary, The Buckhead Community Bank, to accurately quantify
the degree to which these assets are impaired in the context of a
corresponding evaluation of the appropriateness of the Bank's loan
loss reserve.  Once this review and evaluation have been completed
and the Company's financial statements are prepared, the Company's
independent auditors will be given the opportunity to complete a
review of the Company's financial statements.

The Company expects to report a net loss for each of the three and
six months ended June 30, 2009.  While the exact magnitude of the
loss can not be determined prior to the completion of the review
and evaluation, the Company anticipates a loss of at least
$38.4 million, or a loss of $6.07 per diluted share, for the
June 30 quarter, compared to a loss of $1.2 million, or $0.19 per
diluted share, for the quarter ended June 30, 2008.  The
difference primarily relates to decreases in net interest income
after provision for loan losses and noninterest income and to the
recognition of impairment charges of roughly $17.3 million related
to goodwill.  Depending on the level of impairment actually
recognized and any corresponding adjustment to the Bank's loan
loss reserve, the loss actually reported by the Company could be
higher.

On August 6, 2009, Buckhead Community Bank entered into a
Stipulation and Consent Order to Cease and Desist with the Georgia
Department of Banking and Finance and the Federal Deposit
Insurance Corporation.  The Bank and its Board of Directors have
taken an active role in working with the DBF and the FDIC and
Finance to improve the condition of the Bank.

The Consent Agreement is based on the findings of the DBF and the
FDIC during an on-site examination conducted as of December 8,
2008.  Since the completion of the examination, the Board of
Directors has aggressively taken steps to address the findings of
the exam, and the Bank is aggressively working to comply with the
requirements of the Consent Agreement and has already completed
many of the required actions.

Under the terms of the Consent Agreement, the Bank is required to
submit written plans to the regulators and to review and revise as
necessary policies that address the following items: reducing
concentrations of credit; continuing to improve loan underwriting
and credit administration; on-going review and grading of the
Bank's loan portfolio; improving the Bank's position regarding
classified loans and other real estate owned; the allowance for
loan and lease losses; maintaining sufficient capital at the Bank,
including maintenance of an 8% leverage ratio and a 10% total
risk-based ratio; preparing a three-year strategic plan and a
profit plan to improve the Bank's earnings and overall condition;
and improving the Bank's liquidity position and funds management
practices.  The Bank is also required to continue to appropriately
charge-off certain loans that may be classified in future
examinations and to reduce other adversely classified assets.

The Board of Directors of the Bank is also required, within 60
days from August 6, to complete a written job description for
executive officers and members of senior management and to prepare
an organizational chart that designates lines of authority and
responsibilities for each officer position.  So long as the
Consent Agreement remains in place, the Bank must notify the DBF
and the FDIC when it proposes to add any individual to the Board
or employ an individual as an executive officer.  Further, the
Bank may not, without the prior written approval of the DBF and
the FDIC, declare or pay any dividends or renew or accept
additional brokered deposits.  The Bank has agreed to correct all
violations of rules or policy noted in the examination report
within 30 days.

"While the Consent Agreement is important and significant, the
Bank believes that, due to the proactive steps previously taken by
the Bank's management and Board, many of the requirements of the
Consent Agreement have already been met.  The Bank and management
will continue to strive to address the concerns that gave rise to
the Consent Agreement.  The Bank will continue to conduct its
banking business with customers in a normal fashion.  Banking
products and services and hours of business will remain the same,
and the Bank's deposits will remain insured by the FDIC to the
maximum limits allowed by law," Marvin Cosgray, the Company's
President and Chief Executive Officer, said early August.

Buckhead Community Bancorp, Inc., is a bank holding company whose
principal activity is the ownership and management of its wholly
owned subsidiary, The Buckhead Community Bank.  The Bank is a
commercial bank headquartered in Atlanta, Fulton County, Georgia.
The Bank operates seven branch locations and one loan production
office, all of which are located in metropolitan Atlanta, Georgia.
The Bank provides a full range of banking services in its primary
market areas.

As of March 31, 2008, the Company had $973,825,000 in total assets
and $927,895,000 in total liabilities.


CABLEVISION SYSTEM: Fitch Assigns 'B-' Rating on $900 Mil. Notes
----------------------------------------------------------------
Fitch Ratings has assigned a 'B-' rating to Cablevision System
Corporation's $900 million issuance of senior unsecured notes due
2017.  The notes were sold under Rule 144A with registration
rights.  Proceeds generated from the issuance are expected to be
down-streamed to wholly owned subsidiary CSC Holdings, Inc., and
used to fund a cash tender offer to repurchase CSC's 7.625% senior
notes due 2011 and its 6.75% senior notes due 2012.  CVC and its
subsidiary CSC have a 'BB-' Issuer Default Rating, and all the
ratings have a Stable Rating Outlook.

CVC's issuance combined with CSC's parallel announcement of its
cash tender offer for its senior notes maturing in 2011 and 2012
continues to address the refinancing risk associated with the
large scheduled maturity towers during 2011 and 2012, which as of
June 30, 2009, total approximately $5.2 billion.  During the
second quarter of 2009, CSC began to focus on the maturities by
successfully amending and restating its senior secured credit
agreement.  The amendment extended the final maturity date of the
Incremental Term Loan Facility for lenders holding approximately
$1.2 billion of outstanding Incremental Term Loan Facility loans
to March 29, 2016 from March 29, 2013, effectively pushing
approximately $1.1 billion of required amortization during 2012
and 2013 to 2016.

Overall, Fitch's ratings reflect the solid operating profile and
competitive strength of CVC's core cable business derived from
CVC's tightly clustered subscriber base, the company's efficiently
managed cable plant, and the company's growing revenue diversity
owing to the success of CVC's Triple Play service offering and
growing commercial business.  CVC's scale and system clustering
provide the company with competitive advantages in terms of
driving higher operating efficiencies through its cable plant,
taking cost out of customer premise equipment, lowering
programming costs growth, and positioning the company to enhance
its product offerings so that it can differentiate them from the
competition's offering.  CVC's cable business consistently
produces industry leading service penetration levels, average
revenue per unit and ARPU growth rates in an increasingly
competitive operating environment.  Within the context of existing
competitive pressures and weak economic conditions, the ratings
incorporate Fitch's expectation that the company will continue to
generate solid operating metrics and sustainable free cash flow
growth over Fitch's rating horizon.  Additionally, the ratings
recognize that ARPU, revenue and EBITDA growth rates will slow
relative to historical growth rates.

Fitch's rating actions incorporates the continuing strengthening
of CVC's credit profile, the company's improved liquidity position
and financial flexibility and Fitch's expectation of sustainable
free cash flow generation.  On a consolidated basis, CVC's
leverage metric for the last 12 months ended June 30, 2009 was 4.9
times (x) reflecting the steady improvement from 6.86x as of year-
end 2006.  Fitch expects that CVC's leverage metric will improve
modestly during the balance of 2009 due to lower debt levels and
ongoing EBITDA growth and finish 2009 with leverage approximating
4.8x on a consolidated basis.  After generating nearly $383
million of free cash flow during 2008, Fitch expects CVC to
generate in excess of $600 million of free cash flow during 2009
(assuming constant dividends).  During 2009, Fitch expects CVC's
capital expenditures to decline relative to 2008 capital
expenditure levels both in terms of the absolute dollar amount and
as a percentage of revenues.

Rating concerns center on CVC's ability to maintain its relative
competitive position given the changing competitive and economic
environment, growing revenues beyond its core Triple Play service
offering, efficiently managing its cable plant to maximize
desirable high-definition content while balancing capital
expenditures to maximize free cash flow generation.  Fitch
believes event risks surrounding CVC's acquisition and non-core
investment strategy as well as its financial policies related to
the allocation of capital to CVC shareholders is expected to
remain a key rating consideration.

A Stable Rating Outlook reflects Fitch's expectation that the
company's operating profile will remain relatively consistent
during the near term in the face of competition and slowing
economic conditions.  Further, the Stable Outlook considers the
company accommodating non-core acquisitions, and investments in a
credit neutral manner and the absence of other leveraging
transactions.


CABLEVISION SYSTEMS: Note Upsizing Won't Move Moody's 'Ba2' Rating
------------------------------------------------------------------
Moody's Investors Service said that Cablevision Systems
Corporation's upsized $900 million senior unsecured note issuance
due 2017 does not impact the company's ratings, including its Ba2
Corporate Family Rating and Ba2 Probability of Default Rating.
The transaction is deemed to represent a modest net positive
credit event via extension and smoothing of the company's debt
maturity profile and further evidence of the recent trend towards
greater fiscal conservatism, albeit at a slightly inflated cost
relative to historical debt service.

Moody's last rating action on Cablevision was on September 9, 2009
when a B1 rating was initially assigned to Cablevision's then
proposed $500 million senior unsecured note issuance due 2017.

Headquartered in Bethpage, New York, Cablevision Systems
Corporation is predominantly a domestic cable TV multiple system
operator serving approximately 3.1 million subscribers in and
around the New York metropolitan area.  Among other entertainment-
and media-related business ventures, the company also owns and
distributes programming to cable television and direct broadcast
satellite providers throughout the United States through its
Rainbow National Services subsidiary.


CABLEVISION SYSTEMS: Note Upsizing Won't Affect S&P's 'BB' Rating
-----------------------------------------------------------------
Standard & Poor's Ratings Services said that the upsizing of
Cablevision Systems Corp.'s (BB/Negative/--) senior notes due 2017
does not affect the rating on the issue or other ratings on
Cablevision Systems and related entities.

The rating on the issue, which was increased to $900 million from
$500 million, remains at 'B+' with a '6' recovery rating.  The
notes are being sold under Rule 144A with registration rights.
All, or most, of the proceeds will be used to reduce debt of
Cablevision subsidiary CSC Holdings Inc.


CANADIAN SUPERIOR: May Exit Bankruptcy Today, Picks New Board
-------------------------------------------------------------
Dan Healing at the Calgary Herald reports that Canadian Superior
Energy Inc. is expecting to emerge from bankruptcy protection on
September 14.

Calgary Herald relates that Canadian Superior's shareholders voted
on Wednesday to replace all but one of the Company's directors and
approve a plan of arrangement under which the Debtor will acquire
Challenger Energy Corp. through a share swap.  According to the
report, Canadian Superior's founder Greg Noval wasn't re-elected
as a director.

Rick Watkins was the sole director that was re-elected in Canadian
Superior, according to Calgary Herald.  The report says that the
new board also includes four candidates proposed by Palo Alto,
Kerry Brittain, Marvin Chronister, James Funk, William Roach, and
Gregory Turnbull.

Mr. Watkins said that a final creditors meeting was set for
Friday, while the plan of arrangement will be presented for court
approval on September 14, Calgary Herald states.  The report
quoted Mr. Watkins as saying, "The complexion or the profile of
the company is unchanged except that we will have a clean balance
sheet, a new line of credit and capital available to develop our
assets in Western Canada and pick up new assets and be somewhat
opportunistic about doing so.  The Company's business plan in the
past has been to use the western Canadian assets to fund
opportunities in other parts of the world . . . we're going to
focus on them now."

According to Calgary Herald, Mr. Watkins said that under the plan,
creditors owed about US$120 million will be repaid 100% plus
interest.  Canadian Superior will also be alb to complete the sale
of a 45% stake in Trinidad Block 5c to BG for US $142.5 million,
the report says, citing Mr. Watkins.  Canadian Superior will keep
a 25% stake in the block, the report states.

Canadian Superior Energy Inc. -- http://www.cansup.com/-- is a
Calgary, Alberta, Canada-based diversified global energy company
engaged in the exploration and production of oil and natural gas,
and liquefied natural gas projects, with operations offshore
Trinidad and Tobago, offshore Nova Scotia, Canada, in Western
Canada, in the United States and in North Africa.

On March 5, 2009, Canadian Superior made an application for
protection under the Companies' Creditors Arrangement Act and an
Initial Order was granted by the Court of Queen's Bench of Alberta
for creditor protection for 20 days, which was subsequently
extended to May 4, 2009, June 4, 2009, July 24, 2009, and
Sept. 15, 2009.  Deloitte & Touche Inc. was appointed Interim
Receiver of the Company's Participation Interest in Block 5(c)
Trinidad pursuant to a Court Order granted by the Court of Queen's
Bench of Alberta.  At June 30, 2009, the Company estimates its net
obligation to the receiver to be approximately $49.5 million,
which includes $74.6 million paid by the receiver net of
$25.1 million of Block 5(c) joint interest billings collected by
the receiver on the Company's behalf.  The Court appointed Hardie
and Kelly Inc. as Monitor of the Company.


CATALYST CORP: Obtains PEFC Chain of Custody at Paper Mills
-----------------------------------------------------------
Catalyst Paper Corp. has obtained chain-of-custody certification
from the Programme for the Endorsement of Forest Certification
(PEFC) for its four Canadian paper mills.

The certification is effective September 1, 2009, and replaces the
PricewaterhouseCoopers chain of custody which was implemented in
2004.  Unlike the previous system, PEFC enables Catalyst to label
select paper products as originating from forests managed to
specific certification standards.

"Catalyst has a well-established environmental management system
at all our mills," said Richard Garneau, president and CEO, "and
this extends to our preference for certified fibre. Converting our
BC mills to PEFC -- a widely recognized chain of custody - lets
customers know our fibre sourcing, tracking and verification also
measures up to high standards."

Earlier this year, the company achieved Forest Stewardship Council
certification at its recycle mill in Snowflake, Arizona.  Catalyst
also produces FSC-certified de-inked pulp at its Paper Recycling
Division in British Columbia.

PEFC is an independent, non-profit organization that assesses and
mutually recognizes national forest certification programs
developed through multi-stakeholder processes.  Catalyst
manufactures paper using fiber certified under two PEFC-recognized
programs -- the Canadian Standards Association and the Sustainable
Forestry Initiative.

Catalyst will allocate and track available fiber supplies using
the credit system so as to ensure that select paper products
contain 100 per cent certified fiber.  Under PEFC, customers are
able to give their support for certification greater visibility
with on-product use of a PEFC label or an SFI logo.

On June 23, 2009, the Company said it is reviewing alternatives to
address the maturity of its senior unsecured notes of
US$354 million, 8.625% notes and US$250 million, 7.375% notes
which mature in June 2011 and March 2014, respectively.  The
Company intends to take proactive steps towards refinancing in
light of current adverse credit conditions and the absence of any
signs of a meaningful recovery for the Company's product lines.

The Company's long-term corporate credit ratings were lowered from
B to CCC+ by Standard & Poor's Rating in June 2009 and from B1 to
B3 by Moody's Investors Service in July 2009.  The rating declines
reflect both the announced review of refinancing alternatives and
the weak market environment for the Company's products.

                      About Catalyst Paper

Catalyst Paper Corporation (TSX:CTL) manufactures diverse
specialty printing papers, newsprint and pulp.  Its customers
include retailers, publishers and commercial printers in North
America, Latin America, the Pacific Rim and Europe.  With six
mills strategically located in British Columbia and Arizona,
Catalyst has a combined annual production capacity of 2.5 million
tonnes.  The company is headquartered in Richmond, British
Columbia, Canada and its common shares trade on the Toronto Stock
Exchange under the symbol CTL.

At June 30, 2009, Catalyst had C$2.2 billion in total assets and
C$1.3 billion in total liabilities.


CDX CORP: District Court Blesses Parties' Expert Witnesses
----------------------------------------------------------
WestLaw reports that in an action by a corporation's liquidating
trustee against lenders and members of the corporation's board of
directors for breach of fiduciary duty, the plaintiff's proffered
expert on corporate governance was a qualified expert in fiduciary
duty law whose opinions would assist the jury.  The expert
possessed sufficient training and experience in that he was a law
professor, a specialist in the field of corporate law, a
practicing lawyer, a published author regarding a variety of
corporate law topics, and a former management consultant.  The
expert, moreover, had dealings with in excess of 20 separate
boards of directors, had made presentations regarding issues of
business and regulatory strategy, corporate governance, and other
high-level management issues, and had analyzed valuation models
for investors considering investing in private companies.  The
expert was not rendered unqualified to testify simply because he
had never served on nor given legal advice to a board of any
Delaware or Maryland company.  CDX Liquidating Trust ex rel. CDX
Liquidating Trusee v. Venrock Associates, --- B.R. ----, 2009 WL
2767042 (N.D. Ill.) (Denlow, J.).

CDX, formerly known as Cadant, sold its assets to Arris Group,
Inc., and then filed for bankruptcy (Bankr. N.D. Ill. Case No. 02-
B-_____) on June 17, 2002.  The Honorable Eugene R. Wedoff
approved a reorganization plan and closed the bankruptcy
proceedings related to CDX on November 1, 2004.  The plan included
provisions commencement of litigation against various parties for
breach of fiduciary duty, aiding and abetting breach of fiduciary
duties, negligence, fraud, conspiracy, and equitable
subordination.  That lawsuit was filed (N.D. Ill. Case No. 04-C-
7236) in 2004 against:

    * Venrock Associates,
    * Venrock Associates II, L.P.,
    * Venrock Entrepreneurs Fund L.P. Hambrecht & Quist
      California,
    * H & Q Employee Venture Fund 2000, L.P,
    * Access Technology Partners, L.P.,
    * Access Technology Partners Brokers Fund, L.P.,
    * H & Q Cadant Investors, L.P.,
    * Chase Equity Associates, L.L.C.,
    * J.P. Morgan Partners (BHCA), L.L.C.,
    * Eric Copeland,
    * C.H. Randolph Lyon,
    * Stephan Oppenheimer, and
    * Charles Walker,

alleging that (1) from January 2000 through May 2001, all or most
of the Defendants spurned legitimate third-party financing in
order to engage in self-dealing bridge loans on terms highly
unfavorable to Plaintiff; (2) the rejection of the third-party
financing offers was predicated on continued assurances from
certain Defendants they would support the company with fair and
equitable financing; and (3) subsequent to gaining control through
bridge loans, Defendants sold the company to Arris with Defendants
-- not shareholders -- recovering funds through the sale.  The
liquidating trustee appointed under CDX's chapter 11 plan is suing
the lenders and members of corporation's board of directors for
breach of fiduciary duty, alleging that defendants gained control
of corporation through self-dealing bridge loans on terms highly
unfavorable to corporation and then sold corporation in
transaction in which shareholders recovered nothing.

As the litigation moves toward trial, the parties filed motions in
limine seeking to exclude expert testimony.  Considering those
motions, United States Magistrate Judge Morton Denlow, held that
(A) the defendants' proffered expert on the internet
infrastructure market was qualified to give expert testimony; (B)
the opinions of defendants' expert were reliable and relevant; (C)
the testimony of defendants' expert was not unscientific
speculation; (D) the testimony of defendants' expert regarding
post-September 11th events was proper; (E) plaintiff's proffered
expert on corporate governance was a qualified expert in fiduciary
duty law whose opinions would assist the jury; (F) plaintiff's
expert could not testify about his interpretation of the governing
law, but could provide a backdrop of general principles against
which the jury could view the case; and (G) the opinions of
plaintiff's expert explaining directors' duties and how the
directors acted in this case were admissible.


CENA LLC: Objections to Discharge of Debts Due November 9
---------------------------------------------------------
A meeting of creditors of Cena LLC under 11 U.S.C. Sec. 341(a) was
held September 9, 2009, before the Office of the U.S. Trustee.
According to the docket, objections to the dischargeability of
certain debts are due November 9, 2009.

CENA LLC, as debtor-in-possession, has obtained approval to hire
Ira H. Thomsen as bankruptcy counsel.

Cena LLC's Cena restaurant, the Brazilian and Mediterranean
steakhouse near the Dayton Mall, remains in business, despite
filing for Chapter 11 protection in August.  Restaurant sales are
down 35 percent from two years ago, said Eva Christian, Cena's
founder and sole member, in August, according to Dayton Daily
News.

CENA LLC runs a restaurant that offers a unique blend of both
Brazilian and Mediterranean dining traditions.  CENA filed for
Chapter 11 on August 12, 2009 (Bankr. S.D. Ohio Case No.
09-34990).  The petition says assets are under $50,000 while debts
are between $500,001 and $1,000,000.  The petition was signed by
Eva Christian, sole member of the Company.

Eva Christian, and another restaurant he owns Cafe Boulevard Ltd.,
filed for bankruptcy in April 2009.  That restaurant, still open,
has been reorganizing its debts under Chapter 11 bankruptcy
protection.


CERTIFICHECKS: Filed for Bankr. to Reimburse Certificate Holders
----------------------------------------------------------------
The Associated Press reports that CertifiChecks Inc.'s founder and
president Steven Buchholz sent the Company to Chapter 7 bankruptcy
protection to preserve remaining assets to help reimburse
certificate holders.

CertifiChecks would have run out of money in September 2009, The
AP relates, citing Mr. Buchholz.  According to the report,
Mr. Buchholz said that these factors cause CertifiChecks' failure:

     -- dropping sales,

     -- a long-standing policy of honoring expired gift
        certificates, and

     -- a rush by the public to redeem certificates amid a
        deteriorating economy.

Mr. Buchholz, The AP states, said that CertifiChecks planned to
operate on a month-by-month basis.

Citing the court-appointed trustee, The AP states that more than
1,167 claims seeking $2.3 million in compensation have been filed
against CertifiChecks.  The report says that the deadline for
seeking compensation from CertifiChecks was Tuesday.  According to
the report, $279,000 is available to pay the claims and
administrative costs.

CertifiChecks, Inc. -- http://www.certifichecks.com/-- is
headquartered in Dayton, Ohio serving consumers and merchants
nationwide.  Its gift certificate offers business merchants
redemption, similar to a bank check.  CertifiChecks has developed
a customizable gift certificate that processes like a check
through the national Federal Reserve banking system.  Each gift
certificate is customer personalized and merchant branded.


CHAMPION ENTERPRISES: First Pacific No Longer Holds Equity Stake
----------------------------------------------------------------
First Pacific Advisors, LLC, FPA Capital Fund, Inc., Robert L.
Rodriguez, Managing Member of FPA, and J. Richard Atwood, Managing
Member of FPA, disclose in a regulatory filing with the Securities
and Exchange Commission that they no longer hold shares of
Champion Enterprises, Inc.

Troy, Michigan-based Champion Enterprises, Inc. --
http://www.championhomes.com/-- operates 27 manufacturing
facilities in North America and the United Kingdom distributing
its products through independent retailers, builders and
developers.  The Champion family of builders produces manufactured
and modular homes, as well as modular buildings for government and
commercial applications.

As of July 4, 2009, the Company had $596.4 million in total
assets; and total current liabilities of $269.6 million, long-term
debt of $193.5 million, deferred tax liabilities of $38.1 million,
and other long-term liabilities of $31.4 million; resulting in
shareholders' equity of $63.6 million.

In August 2009, Standard & Poor's Ratings Services lowered its
ratings, including its corporate credit ratings, on Champion
Enterprises and Champion Home Builders.  S&P lowered the corporate
credit ratings to 'CC' from 'CCC-'.  The outlook is negative.
"The rating action reflects the increased likelihood of a debt
restructuring, which S&P would view as distressed and tantamount
to default," said Standard & Poor's credit analyst George Skoufis.

At the end of the second quarter, the company was not in
compliance with the amended financial covenants contained in its
bank credit facility.  In addition to seeking an amendment to the
credit facility, Champion is exploring other alternatives, which
could include a debt restructuring.

On September 2, 2009, the Company entered into an amendment to its
credit agreement with Credit Suisse, Cayman Islands Branch, that
provides, among other things, for an additional 30-day extension
of the waiver of certain covenants through October 12, 2009.


CHARBUCK INC: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Charbuck, Inc.
           dba J. Butler's Bar & Grille
        P.O. Box 10386
        High Point, NC 27404

Bankruptcy Case No.: 09-11704

Chapter 11 Petition Date: September 10, 2009

Court: United States Bankruptcy Court
       Middle District of North Carolina (Greensboro)

Debtor's Counsel: Dirk W. Siegmund, Esq.
                  Ivey, McClellan, Gatton, & Talcott, LLP
                  Suite 500, 100 S. Elm St.
                  P.O. Box 3324
                  Greensboro, NC 27402-3324
                  Tel: (336) 274-4658
                  Fax: (336) 274-4540
                  Email: dws@imgt-law.com

Estimated Assets: $0 to $50,000

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/ncmb09-11704.pdf

The petition was signed by Gerald C. Raynor, president of the
Company.


CHECKER MOTORS: To Pay Severance to More Than 100 Workers
---------------------------------------------------------
Alex Nixon at Kalamazoo Gazette reports that Checker Motors Corp.
will make severance payments to more than 100 employees, after the
U.S. Bankruptcy Court Judge James D. Gregg approved a settlement
between the Company and the United Steel Workers Local 2-682.

According to Kalamazoo Gazette, Checker Motors closed its
Kalamazoo plant at the end of June.  The Company sold its
contracts to produce parts for General Motors Corp. and much of
its equipment to two Canadian auto suppliers.

Kalamazoo Gazette relates that the individual severance payments
range from $700 to $4,600, depending on how long the employee
worked for Checker Motors.  Total severance pays are more than
$528,000, less health insurance premiums, Kalamazoo Gazette
states.  According to the report, Checker Motors will send checks
to its 125 hourly workers.  The Company, the report says, will
also continue to provide health insurance benefits to the
employees and 176 Checker retirees through the end of September.
The union's collective bargaining agreement with Checker Motors
has been eliminated, the report states.

Headquartered in Kalamazoo, Michigan, Checker Motors Corporation
was established by Morris Markin in 1922 through a merger of
Commonwealth Motors and Markin Automobile Body.  The Debtor, once
the manufacturer of the famed Checker automobile (the iconic
American taxi cab), is a Kalamazoo, Michigan-based automotive
parts supplier that makes metal stampings and welded assemblies
for various car and truck lines.

The Company filed for Chapter 11 protection on January 16, 2009
(Bankr. W.D. Mich. Case No. 09-00358).  Christopher A. Grosman,
Esq., at Carson Fischer, P.L.C., represents the Debtor in its
restructuring efforts.  The Debtor proposed Plante & Moran as
financial advisor; Kurtzman Carson Consultants LLC as claims,
noticing and balloting agent; and McCarthy Smith Law Group as
special counsel.  An official committee of unsecured creditors has
been appointed in the case.  As of December 31, 2008, the Debtor
had $22.3 million in assets and $20.1 million in debts.


CHEMTURA CORP: Kirklan & Ellis Charges $5MM for 3.5 Months Work
---------------------------------------------------------------
Thirteen professionals, in separate filings, submitted to the
Bankruptcy Court applications for the allowance of fees for
professional services rendered in the Chapter 11 cases of Chemtura
Corp. and reimbursement of the incurrence of reasonable expenses:

Professional                 Period           Fees      Expenses
------------               ---------       ----------   --------
Kirkland & Ellis LLP      March 18 to      $5,132,958   $167,487
                           Jun. 30, 2009

Akin Gump Strauss Hauer   March 29 to       2,474,449     69,639
& Feld LLP                Jun. 30, 2009

Deloitte Tax LLP          March 18 to       1,396,457     32,731
                           Jun. 30, 2009

KPMG LLP                  March 18 to       1,107,935          0
                           Jun. 30, 2009

Lazard Freres & Co. LLC   March 18 to         862,903     31,797
                           Jun. 30, 2009

Duane Morris LLP          April 13 to         392,085     13,450
                           Jun. 30, 2009

FTI Consulting, Inc.      May 5 to           163,474        126
                           Jun. 30, 2009

DLA Piper LLP (US)        March 18 to         252,708     14,244
                           Jun. 30, 2009

O'Melveny & Myers LLP     March 18 to         201,229        379
                           Jun. 30, 2009

Allen & Overy LLP         March 18 to         393,876      6,274
                           Jun. 30, 2009

Genetelli Consulting      March 18 to         593,752     10,165
Group                     Jun. 30, 2009

Katten Muchin Rosenman    March 18 to         664,646     60,991
LLP                       Jun. 30, 2009

Ogilvy Renault LLP        March 18 to         497,695     39,641
                           Jun. 30, 2009

The fees sought by the 13 professionals aggregate approximately
$14 million, while the expenses aggregate approximately $440,000.

Chemtura Corp. Chief Executive Officer Craig Rogerson disclosed,
in an interview with ICIS, that legal fees and interest payments
have cost the Debtors 18% of their $400 million DIP financing.

                   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 as Baker & McKenzie as Counsel
------------------------------------------------------
Baker & McKenzie was previously employed by Chemtura Corp. as a
professional in the ordinary course of their businesses.

The Debtors currently seek the Court's authority to expand their
retention of Baker & McKenzie.  The Debtors specifically seek to
employ Baker & McKenzie as heir special counsel nunc pro tunc to
July 1, 2009.

The Debtors believe that Baker is particularly well suited to
serve as their special counsel because Baker is one of the
world's largest law firms with approximately 4,000 attorneys in
69 offices in 40 countries.  The Debtors contend that Baker's
knowledge, resources and international reach permit it to deliver
high quality legal services throughout the world with fluency,
consistency, confidence and sensitivity for cultural, social and
legal practice differences outside of the United States.

As the Debtors' special counsel, Baker will provide services in
relation to:

  (a) the strategic review and drafting of material contracts,
      including commercial, joint venture and debt and equity
      restructuring documents;

  (b) the Debtors' antitrust and competition law compliance and
      strategy in the U.S. and foreign jurisdictions;

  (c) advice regarding certain aspects of the Debtors' non-US
      subsidiaries, including advice relating to corporate
      formalities and commercial arrangements;

  (d) certain potential sales and purchases of assets of the
      Debtors, including drafting documents, effectuating due
      diligence, participating in negotiations, and providing
      other services in support of possible transactions; and

  (e) the prosecution and defense of various litigation matters
      in foreign jurisdictions.

The Debtors will pay Baker on an hourly basis and will reimburse
the firm of its necessary out-of-pocket expenses.  Baker's hourly
rates are:

      US Partners                  $500 to $925
      US Of Counsel                $400 to $700
      US Associates                $295 to $540
      US Trainees/Paralegals       $100 to $250

The Debtors note that during the 90-day period before the
Petition Date, they paid Baker $86,253 for professional services
performed and expenses incurred.  The Debtors have also been
advised that Baker had issued unpaid invoices for legal services
done for the Debtors' benefit and expenses incurred, totaling
approximately $441,911.

Dieter A. Schmitz, Esq., a partner at Baker, assures the Court
that his firm is a "disinterested person" as the term is defined
in Section 101(14) of the Bankruptcy Code.

                   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: Rejects Leases With Duke Realty, et al.
------------------------------------------------------
In separate filings with the Court, the Debtors notified parties-
in-interest that they intend to reject these four leases as they
no longer need the terms provided for under the leases:

  1. A lease between Debtor Bio-Lab, Inc., on the one hand, with
     the Thomas and Rochelle Vedres Trust, dba T&R Properties

  2. A warehouse agreement between Bio-Lab and BaxterHarriss
     Co., Inc., predecessor to KiserHarriss Chemical
     Distribution Centers, Inc.

  3. A lease agreement between Debtor Great Lakes Chemical
     Corporation and Duke Realty Corporation

  4. A sublease agreement between Great Lakes and Dauby O'Connor
     and Zaleski

               Debtors Reject BMR & Progenics Leases

In a separate filing, the Debtors sought and obtained the Court's
authority to reject a prime non-residential real property lease
they are a party to with BMR-Landmark at Eastview LLC and their
non-residential real property subleases with Progenics
Pharmaceuticals, Inc. and Momentive Performance Materials, Inc.
nunc pro tunc to May 31, 2009.

In addition, the Debtors obtained the Court's permission to enter
into an agreement in an effort to mitigate damages from the lease
rejections nunc pro tunc to June 1, 2009.

After engaging in arm's-length discussions, the Parties agreed to
these terms:

-- The Debtors attorn to BMR and recognizes that each of
    Progenics and Momentive Performance as subtenants pursuant
    to the Subleases beginning June 1, 2009.  Rent due under the
    Progenics Sublease and Momentive Sublease after May 31, 2009
    will be paid directly to BMR to the extent it is still
    unpaid;

-- The Debtors and BMR have liquidated BMR's claims.
    Specifically, BMR will have an allowed prepetition claim,
    totaling $1,436,664, and an allowed administrative claim,
    totaling $46,801.

-- The Debtors and BMR release each other from all claims they
    may have against each other.

                   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: To Assume Sprague Energy Pact
--------------------------------------------
Prepetition, Chemtura Corp. and Sprague Energy Corp. entered into
a natural gas sales agreement, pursuant to which Sprague supplies
natural gas for certain of the Debtors' manufacturing locations at
a fixed price and volume which range from $9 to $10 per MMBTU.

However, due to the significant decrease in the market price of
natural gas in the market, the Debtors are making payments to
Sprague in amounts exceeding the market value of the natural gas
received by up to $150,000 per month.

Accordingly, the Parties agree to amend the terms of their
original Agreement to reflect that:

  a. Sprague will supply natural gas to Chemtura Corporation for
     August 2009 and Chemtura will pay Sprague the market price
     for the natural gas, plus 50% of the price differential
     between the current market price and the contract price of
     the natural gas provided for in the Original Agreement.
     Sprague will bear the cost of the remaining 50% of the
     price differential between the market price of natural gas
     in August 2009 and the contract price for the same provided
     for in the Agreement;

  b. For the months of September 2009 through December 2009,
     Sprague will supply natural gas to Chemtura at a price
     determined in accordance with the New York Mercantile
     Exchange monthly last day settlement price and the monthly
     contract basis price;

  c. The 2009 fixed price contracts between Sprague and Chemtura
     may be liquidated at Sprague's discretion prior to the
     close of the September 2009 transaction between the
     parties.  Sprague will bear the cost of any loss incurred
     based on the difference between the contract and market
     price.  Sprague will file a general unsecured claim with
     the Court within 30 days after the Stipulation and Order is
     approved by the Court, for the full amount of the mark-to-
     market loss generated by the liquidation of the remaining
     fixed price contracts for 2009 and the loss from the
     assumption of 50% of the difference between the contract
     price and the market price by Sprague set in section (a);

  d. Chemtura will not be required to prepay for any of the
     natural gas supplied by Sprague during the remainder of
     2009 and through December 2010;

  e. The amount of the security deposit posted by Chemtura will
     be $300,000 to cover gas supply in an amount based on the
     cost of natural gas to be supplied by Sprague for the month
     of January 2010.  In the event the cost of natural gas for
     any month beyond January 2010 exceeds the security deposit
     posted, the security deposit will be increased to meet the
     increased amount.  Sprague will not be required to pay
     Chemtura the amount of any interest earned on account of
     Chemtura's security deposit;

  f. Sprague will maintain standard payment terms for Chemtura
     for the remainder of 2009, through and including December
     2010, and will not require any monthly prepay or additional
     security beyond the security deposit;

  g. Sprague agrees that Chemtura may purchase a fixed price
     supply of natural gas from Sprague through December 2010
     and up to 80% of monthly volume requirements in accordance
     with price terms to be agreed upon by the parties and
     without demand for financial assurance above the security
     deposit specified in section (e); and

  h. Except as specifically amended by the Amendments, all other
     terms and conditions of the Agreement remain in force and
     effect.

                   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)


CHRYSLER LLC: Court Stays Actions by Renegade Dealers
-----------------------------------------------------
Judge Arthur Gonzalez has approved Old CarCo LLC's request to
enforce the automatic stay and the order approving the sale of
substantially all of their assets to Fiat S.p.A.

The Judge ruled that dealers should withdraw their actions by
September 10, 2009, or they will be subject to a sanction of
$10,000 per day and payable to the Court until full compliance.

The dealers are enjoined from pursuing any future action against
New Chrysler with respect to any rejected dealer agreements.

Meanwhile, Crain CDJ LLC and seven other affected dealers in
Wisconsin took an appeal from Judge Gonzalez's ruling to the
United States District Court for the Southern District of New
York.

The Wisconsin Affected Dealers are:

  -- Boucher Imports, Inc.;
  -- Braeger Chrysler Jeep;
  -- Quaden Motors, Inc. a/k/a John Quaden Dodge, Inc.;
  -- Johnson Motors of St. Croix Falls, Inc.;
  -- Lakeland Pontiac-GMC-Jeep, Inc. a/k/a Lakeland Oldsmobile-
     Pontiac-GMC;
  -- Mueller Chrysler, Inc.; and
  -- Wolf's Motor Car Company, Inc.

The Wisconsin Affected Dealers are represented by Paul R. Norman,
Esq., at Boardman Suhr Curry & Field LLP, in Madison, Wisconsin.

Crain CDJ is represented by Stephen L. Gershner, Esq., at Davidson
Law Firm, Ltd., in Little Rock, Arizona.

                      About Chrysler LLC

Chrysler Group LLC, formed in 2009 from a global strategic
alliance with Fiat Group, produces Chrysler, Jeep(R), Dodge,
Mopar(R) 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, Michigan, 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.

Chrysler LLC and 24 affiliates on April 30 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: Kenosha Workers Eligible for Aid
----------------------------------------------
The U.S. Department of Labor said that workers from Chrysler's
engine plant in Kenosha, Wisconsin, are eligible to receive Trade
Adjustment Assistance, according to a report by The Business
Journal of Milwaukee.

The Kenosha workers are part of a larger group of about 3,500 auto
workers from companies in nine states that recently received TAA
certification.  The certification will provide assistance to over
300 workers who lost their jobs at the Kenosha plant.

"Auto workers around the country are facing reduced hours and
layoffs as a direct result of foreign competition.  These workers
deserve our support as they upgrade current skills or seek out new
careers in promising regional industries," The Business Journal
quoted U.S. Secretary of Labor Hilda Solis as saying.

Workers covered by TAA certification will be contacted by their
respective states and instructed on how to apply for individual
benefits and services.  Those who apply may receive case
management and re-employment services, training in new
occupational skills, among other things.

The report notes that workers 50 years of age and older may elect
to receive Re-employment Trade Adjustment Assistance.  If a worker
obtains new employment at wages less than $55,000 and less than
those earned in adversely affected employment, the RTAA program
will pay 50% of the difference between the old wage and the new
wage, up to $12,000 over a two-year period.  The participants may
also be eligible for retraining and health care tax credit.

                      About Chrysler LLC

Chrysler Group LLC, formed in 2009 from a global strategic
alliance with Fiat Group, produces Chrysler, Jeep(R), Dodge,
Mopar(R) 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, Michigan, 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.

Chrysler LLC and 24 affiliates on April 30 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: MDL Plaintiffs Want Class Claim Allowed
-----------------------------------------------------
In October 2007, Torrance Greene, on behalf of himself and all
others similarly situated individuals, commenced a class action
lawsuit in the United States District Court for the District of
New Jersey against DaimlerChrysler Corp. and Chrysler, LLC, titled
Torrance Greene v. Daimler Chrysler Corp., et al., Case No. 2:07-
1740, District of New Jersey.

On October 14, 2008, Mr. Greene and the plaintiffs in these cases
moved the Judicial Panel on Multidistrict Litigation for an order
to transfer and consolidate the actions:

  (a) Lisa Stuart, Scott Stuart, Patricia Heinen, John Darago
      and Mike Potter v. DaimlerChrysler Corp., Case No. 1:08-
      632, Eastern District of California;

  (b) Joan Capobianco v. Daimler Chrysler Corp., et al., Case
      No. 2:08-329, Middle District of Florida; and

  (c) Don Harris v. DaimlerChrysler Corp., et al., Case No.
      1:08-2638, Northern District of Illinois.

On February 10, 2009, the JPML determined that the class actions
should be consolidated for coordinated pretrial proceedings with
the Greene action in the United States District Court for New
Jersey.

The Chrysler MDL Classes relate to Chrysler vehicles for the model
years 1998 through 2004.  The MDL Plaintiffs assert property
damage claims based upon the same engine design defect common to
all class vehicles.  They allege that the design defect causes the
formation of oil sludge which, in turn, causes engine damage and
failure.  The JPML determined that the actions shared factual
questions arising out of the allegation of a common design defect
in the engines in class vehicles and that the actions were "nearly
identical in terms of facts alleged."

Two actions were subsequently transferred as "tag along" cases,
and the actions are collectively referred as the "MDL Classes."
The two actions are:

  (a) Robert Trezza v. Chrysler, LLC, et al., Case No. 2:09-
      01149, West Virginia; and

  (b) Ellen Burke v. Chrysler LLC, et al., Case No. 1:08-11896,
      District of Massachusetts.

In all pleadings, the MDL Classes named Chrysler LLC as defendant.

R. Scott Williams, Esq., at Haskell Slaughter Young & Rediker,
LLC, in Birmingham, Alabama, contends that the number of class
members in the consolidated MDL Classes is in the many thousands
because thousands of engines in Class Vehicles have failed.  He
notes that the cost to repair the failed engines range from $5,000
to $10,000, and that all Class Vehicles have suffered engine
damage and reduced useful life as a result of the design defect.

The MDL Plaintiffs point out that the filing of a Class proof of
claim is appropriate because there are substantially similar
factual claims in the consolidated Class cases.

Accordingly, the MDL Plaintiffs ask the Court to allow the class
representatives in the MDL classes to file class proofs of claim.
They also ask the Court to allow appropriate discovery under Rule
9014 of the Federal Rules of Bankruptcy Procedure, and to
establish a schedule for determining class action certification
issues.

The Court will commence a hearing on September 24, 2009, to
consider the request.  Objections are due September 11.

                      About Chrysler LLC

Chrysler Group LLC, formed in 2009 from a global strategic
alliance with Fiat Group, produces Chrysler, Jeep(R), Dodge,
Mopar(R) 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, Michigan, 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.

Chrysler LLC and 24 affiliates on April 30 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 5% Sales Hike in August
----------------------------------------------------------
Chrysler Group LLC reported a 5 percent increase in U.S. sales
compared with July 2009 despite low inventory levels on a number
of popular nameplates, notes an official statement issued by the
company.  Dealership traffic continued at a high level during the
month of August, in part due to the U.S. government's Car
Allowance Rebate System (CARS), more commonly known as "cash for
clunkers."

"Chrysler Group had another strong sales month in August with the
majority of Chrysler Group nameplates posting year-over-year or
month-over-month sales improvements," said Peter Fong, President
and Chief Executive Officer-Chrysler Brand and Lead Executive for
the Sales Organization, Chrysler Group LLC.  "The CARS program
gave a boost to the industry in August, and as a result, we've
increased production by more than 50,000 units, our factories are
full-steam ahead building Chrysler, Jeep(R) and Dodge vehicles for
customers and replenishing dealer inventories."

Chrysler Group reported total U.S. sales for August of 93,222
units, an increase of 5 percent compared with July and a decrease
of 15 percent compared with the same time period in 2008.  Retail
sales for August were 68,958 units.  The company finished the
month with 100,238 units in inventory, representing a 28-day
supply.  Inventory is down 74 percent versus August 2008 when it
totaled 380,560 units.  Overall industry figures for August are
projected to come in at an estimated 14.4 million SAAR.

"Chrysler Group's large car, minivan, crossover and truck segments
all posted increases in retail sales in August," said Steven
Beahm, Vice President?Sales Operations, Chrysler Group LLC.  "The
Dodge Avenger, Dodge Grand Caravan and Chrysler PT Cruiser were
very popular with consumers looking for high-quality, fuel-
efficient vehicles."

Brand Sales Highlights for August are:

    * Seventeen out of 26 nameplates posted year-over-year
      and/or month-over-month retail sales increases, including
      five out of six Jeep nameplates.  Nameplates with
      increased retail sales are:

       -- Chrysler Sebring Sedan/Convertible,
       -- Chrysler 300,
       -- Chrysler PT Cruiser,
       -- Chrysler Town & Country,
       -- Jeep Wrangler,
       -- Jeep Liberty,
       -- Jeep Compass,
       -- Jeep Grand Cherokee,
       -- Jeep Commander,
       -- Dodge Caliber,
       -- Dodge Avenger,
       -- Dodge Charger,
       -- Dodge Challenger,
       -- Dodge Journey,
       -- Dodge Dakota,
       -- Dodge Ram and Dodge Sprinter

    * Jeep Grand Cherokee U.S. sales increased 62 percent (7,679
      units) compared with August 2008 and 118 percent versus
      the previous month

    * Chrysler 300 U.S. sales increased 17 percent versus August
      2008 (4,320 units) and increased 88 percent versus July

    * Chrysler PT Cruiser retail sales were up 100 percent
      (3,819 units) compared with August 2008 and increased 45
      percent compared with July. August is the second
      consecutive month of year-over-year sales increases for
      Chrysler PT Cruiser

    * Dodge Grand Caravan U.S. sales were up 13 percent (10,648
      units) compared with August 2008 and increased 27 percent
      versus July, representing the second consecutive month of
      sales increases

    * Dodge Avenger U.S. sales increased 16 percent (4,118
      units) compared with August 2008

    * Mopar(R) parts and accessories sales increased 5 percent
      compared with July

    * Mopar introduces new accessories that will help consumers
      refresh their Ride, including: New GarminTM nuvi(R)
      navigation systems, new Jeep Wrangler door kits and 2010
      MY Dodge Ram chrome accessories

Chrysler Group LLC also announced these incentives valid from
September 1 to 30, 2009:

  * 2009 Model Year Vehicles. Chrysler Group is pleased to offer
    0 percent financing for up to 72 months through GMAC
    Financial Services or up to $4,500 Consumer Cash on select
    2009 model year Chrysler, Jeep and Dodge vehicles.

  * 2010 Model Year Vehicles.  On select 2010 model Chrysler,
    Jeep and Dodge vehicles, limited Consumer Cash of up to
    $2,000 or attractive financing rates through GMAC Financial
    Services are available.

        Chrysler Canada's August 2009 Sales Results

Chrysler Canada, for its part, announced in a separate statement
sales of 14,432 units for the month of August, compared with
15,548 in August 2008.  Results have continued to strengthen in
the past two months, fueled by sales of the Dodge Grand Caravan
and Chrysler 300 and 300C, says the report.

According to the statement, Dodge Grand Caravan and Chrysler Town
& Country combined sales reached 5,167 units, the highest level
since May 2008.  This figure represents an increase of 92 per cent
compared with August 2008.  Dodge Grand Caravan alone outsold the
nearest minivan competitor by a margin of seven to one, and
accounted for an unprecedented 66 per cent of the segment.  To
meet the ongoing demand, Chrysler recently announced that it would
retain the third shift at the Windsor Assembly Plant.

"Momentum has been building at Chrysler Canada throughout the
summer," said Reid Bigland, president and CEO of Chrysler Canada.
"With our Windsor minivan plant now operating around the clock and
our minivans currently commanding 70 per cent segment share, this
is great news for prospective customers and bad news for the
competition."

In addition to the Dodge Grand Caravan gains, Dodge Charger sales
increased year-over-year by 66 per cent to a total of 463 units.

Chrysler brand sales posted an increase of 23 per cent over the
same month in 2008, with total sales of 1,498.  Sales of the
Chrysler 300 and 300C reached 859 units, up 174 per cent compared
with August 2008.  Chrysler Town & Country sales rose 30 per cent
to 309 units.

Due primarily to the strength of the Brampton Ontario-built
Chrysler 300/300C and Dodge Charger, Chrysler Canada passenger car
sales grew eight per cent over August 2008 to 2,713 units.

"It is great to see that Canadians are supporting the home team,"
Mr. Bigland continued.  "Sales of our 'Made in Canada' vehicles
are up an impressive 94 per cent over last year."

For the month of September, Chrysler Canada is introducing "Dare
to Compare," encouraging Canadians in the market for a new vehicle
to put the company's Chrysler, Jeep(R) and Dodge products up
against all competitors.  As the maker of Canada's No. 1 selling
minivan, most popular crossover, and most awarded 2009 pickup
truck, the company is confident competitive makes won't stack up.
Dare to Compare offers total cash discounts of up to $7,500 plus
zero per cent purchase financing for 36 months on virtually all
2009 Chrysler, Jeep and Dodge models.

For example, says the company statement, the 2009 Dodge Grand
Caravan is available from $19,999 plus zero per cent purchase
financing for 36 months.  This vehicle includes a V6 engine; air
conditioning; automatic transmission; seven-passenger seating;
anti-lock brake system (ABS); Electronic Stability Program (ESP);
side curtain airbags; power windows, locks and mirrors; and much
more.

The 2009 Dodge Journey, Canada's most popular crossover, remains
the best value in its segment with an array of comfort, safety and
convenience features for only $18,495, note the Company.  Standard
equipment includes the fuel-efficient 2.4-litre 173-horsepower 16-
valve 4-cylinder engine with variable valve timing; automatic
transmission; ABS; ESP; side curtain air bags; power windows,
locks and mirrors; and much more.

The 2009 Dodge Ram 1500 is available for only $28,499, and is
equipped with the 5.7-litre 390-horsepower HEMI(R) 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.

Dare to Compare is in addition to Chrysler Canada's recently-
announced partnership with the federal government's Retire Your
Ride program.  Chrysler Canada's Cash for Clunkers program is the
country's most aggressive scrappage incentive, with the company
offering $500 to $1,500 on top of the government's rewards and all
other retail incentives.

"There has been very strong interest in our Cash for Clunkers
initiative," said Dave Buckingham, vice president of Sales,
Chrysler Canada.  "As the only official partner of Retire Your
Ride, it gives consumers the opportunity to do something good for
the environment, while rewarding themselves with a great new
Chrysler, Jeep, or Dodge product."

        Chrysler's International Sales for August 2009

Chrysler Group LLC reports that for August 2009, it sold 9,591
vehicles outside of North America, a decrease of 44 percent
compared to August 2008 sales (17,055).

According to the Company, the Asia Pacific region led Chrysler
Group sales outside North America with 2,907 sales, down 10
percent from August 2008 (3,238).  China was the market leader for
the Company and the region with 2,030 sales, a 24 percent increase
from the same time last year.

Chrysler Group sold 2,856 vehicles in Western and Central Europe,
a decrease of 42 percent from August 2008 (4,909).  Germany was
the market leader for the region with monthly sales of 479.

In Latin America, Chrysler Group sold 2,308 vehicles, down 54
percent from the same time last year.  Venezuela led the region
with 638 vehicle sales.

Combined sales in Africa, Middle East, Eastern Europe and Russia
declined 61 percent with 1,520 vehicles sold, compared to 3,887
sales the previous August.

Outside of North America, the Chrysler brand sold 2,740 vehicles.
The Chrysler Sebring Sedan led the Company with 1,151 sales.

The Dodge brand sold 3,182 vehicles outside of North America.
Dodge Journey led the brand outside North America with 905 sales.

The Jeep(R) brand sold 3,669 vehicles outside North America. The
Jeep Grand Cherokee led the brand with 932 sales outside North
America.

Chrysler Group LLC sells and services vehicles in more than 120
countries around the world.

                      About Chrysler LLC

Chrysler Group LLC, formed in 2009 from a global strategic
alliance with Fiat Group, produces Chrysler, Jeep(R), Dodge,
Mopar(R) 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, Michigan, 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.

Chrysler LLC and 24 affiliates on April 30 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: Old CarCo Plan Filing Deadlne Moved to Nov. 30
------------------------------------------------------------
Judge Arthur J. Gonzalez of the U.S. Bankruptcy Court for the
Southern District of New York has extended Old CarCo LLC and its
affiliates' exclusive periods:

  (a) to file a plan of reorganization through November 30,
      2009; and

  (b) to solicit acceptances of that plan through January 29,
      2010.

The Court previously issued a bridge order extending the Plan
Filing Exclusive Period to September 11, 2009, and gave the
Official Committee of Unsecured Creditors until September 8, 2009,
to file a response to the proposed extension.  The Creditors
Committee, however, did not file any response.

                      About Chrysler LLC

Chrysler Group LLC, formed in 2009 from a global strategic
alliance with Fiat Group, produces Chrysler, Jeep(R), Dodge,
Mopar(R) 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, Michigan, 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.

Chrysler LLC and 24 affiliates on April 30 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: Taxpayers May Not Likely Recoup Investment
--------------------------------------------------------
A report by the Congressional Oversight Panel for the Troubled
Asset Relief Program supported assumptions that taxpayers will not
likely recoup their almost $65 billion investment in Chrysler and
General Motors Corp., Reuters reported.

"The ultimate recovery on this investment will depend on what
those companies are worth," Elizabeth Warren, a Harvard Law School
professor who chairs the TARP panel, wrote in the report.

The government holds an 8% stake in Chrysler and a 60% stake in GM
in return for the loans it extended to the automakers to fund
their restructuring.  The funds were taken from the $700 billion
bailout program, which was implemented by the government to help
struggling financial institutions.

The Task Force on the Auto Industry said earlier that Chrysler is
not expected to offer shares of stock for sale until 2011 through
an initial public offering while GM is expected to hold a public
offering next year.

The TARP panel also wrote in its report that there were
significant obstacles to the automakers achieving the level of
profitability that would permit return of the entire investment,
and that the U.S. Treasury's best estimates are that some
significant portion of the funds will never be recovered, Reuters
reported.

The TARP panel's report also recommended that the government
should consider a trust for its stake in the automakers to ensure
independent oversight and facilitate an exit strategy.  But
Treasury officials said a trust may violate federal law in the
case of automakers, Reuters reported.

                      About Chrysler LLC

Chrysler Group LLC, formed in 2009 from a global strategic
alliance with Fiat Group, produces Chrysler, Jeep(R), Dodge,
Mopar(R) 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, Michigan, 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.

Chrysler LLC and 24 affiliates on April 30 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)


CITADEL BROADCASTING: Bank Debt Trades at 42% Off
-------------------------------------------------
Participations in a syndicated loan under which Citadel
Broadcasting Corporation is a borrower traded in the secondary
market at 58.08 cents-on-the-dollar during the week ended Friday,
Sept. 11, 2009, according to data compiled by Loan Pricing Corp.
and reported in The Wall Street Journal.  This represents an
increase of 1.28 percentage points from the previous week, The
Journal relates.  The loan matures on June 1, 2014.  The Company
pays 175 basis points above LIBOR to borrow under the facility.
The bank debt carries Moody's Caa3 rating and Standard & Poor's
CCC rating.  The debt is one of the biggest gainers and losers
among widely quoted syndicated loans in secondary trading in the
week ended Sept. 11, among the 154 loans with five or more bids.

Citadel Broadcasting Corporation (OTCBB:CTDB) is the third largest
radio group in the United States, with a national footprint
reaching more than 50 markets. Citadel is comprised of 165 FM
stations and 58 AM stations in the nation's leading markets, in
addition to the ABC Radio Network business, which is one of the
three largest radio networks in the United States.  See:

              http://www.cidatelbroadcasting.com/

Citadel had assets of $1.412 billion against debts of
$2.469 billion as of June 30, 2009.

As reported in the Troubled Company Reporter on Sept. 3, 2009,
Citadel Broadcasting Corp. is negotiating with senior debtholders
about "what the next step should be" after it skipped a $2 million
interest payment on its subordinated debt due Aug. 15, Sarah
McBride at The Wall Street Journal reports, citing Company CEO
Farid Suleman.  "All options are on the table," including
prepackage bankruptcy, debt restructuring, and another amendment
to the company's credit agreement, The Journal says, citing Mr.
Suleman, who admitted that Citadel might not be able to meet
conditions that kick in next January.

                           *     *     *

As reported by the TCR on June 29, 2009, Moody's Investors Service
downgraded Citadel Broadcasting Corporation's Corporate Family
Rating to Caa3 from Caa2 and Probability of Default Rating of Ca
from Caa3.  In addition, Moody's downgraded Citadel's senior
secured credit facility to Caa3 from Caa2.  The rating outlook is
stable.

The TCR on June 3, 2009, stated that Standard & Poor's assigned
its unsolicited 'CCC' corporate credit rating to Citadel
Broadcasting Corp.  The rating outlook is negative.  At the same
time, S&P assigned the company's $2.34 billion senior secured
credit facilities an unsolicited issue-level rating of 'CCC' (at
the same level as the 'CCC' corporate credit rating).  S&P also
assigned the facilities a recovery rating of '4', indicating S&P's
expectation of average (30% to 50%) recovery for lenders in the
event of a payment default.

S&P believes that Citadel may be unable to comply with new
covenants added to its credit agreement following the completion
of its fourth amendment, specifically the requirement to have at
least $150 million of available cash as of Jan. 15, 2010.  Cash
balances were $25.4 million as of March 31, 2009.


CITIGROUP INC: Discloses 9.5% Stake in Ness Technologies
--------------------------------------------------------
Citigroup Inc. and its affiliates -- CVCIGP II Jersey Investment
L.P.; Citigroup Venture Capital International Investment G.P.
Limited; Citigroup Venture Capital International Delaware
Corporation; Citicorp International Finance Corporation; and
Citicorp Banking Corporation -- disclose their ownership of
3,658,332 shares or roughly 9.5% of the common stock of Ness
Technologies, Inc., as of September 11, 2009.

The Shares are owned directly by CVCIGP II Jersey, and indirectly
by CVCI GP (as general partner of CVCIGP II), CVCID (through its
ownership of CVCI GP), CIFC (through its ownership of CVCID), CBC
(through its ownership of CIFC) and Citigroup (through its
ownership of CBC).

Citigroup also beneficially owns 665 Shares directly owned by
another subsidiary of Citigroup.  Each of CVCIGP II Jersey, CVCI
GP, CVCID, CIFC and CBC disclaims beneficial ownership of the
Shares owned by such other subsidiary of Citigroup, as of
September 10, 2009.

The Citi entities said they may purchase or sell Shares in the
open market.  The purchases would be made subject to regulatory
restrictions and numerous other factors, including Ness's and the
Citi entities' respective financial conditions and operating
results and general market and industry conditions.

The Citi entities also disclose that effective September 1, 2009,
the Board of Directors of Ness appointed Ajit Bhushan, a managing
director at CVCI, to serve on the Board.

In connection with Mr. Bhushan's appointment to the Board, it is
intended that Ness will enter into an indemnification agreement
with Mr. Bhushan, which is expected to contain the same terms and
conditions as those previously entered into by Ness with members
of the Board.

Mr. Bhushan has agreed to waive any right to equity or other
compensation to which he might otherwise have been entitled from
Ness in connection with his service on the Board.

                          About Citigroup

Based in New York, Citigroup Inc. (NYSE: C) --
http://www.citigroup.com/-- is organized into four major segments
-- Consumer Banking, Global Cards, Institutional Clients Group,
and Global Wealth Management.  At June 30, 2009, Citigroup had
total assets of $1.84 trillion and total liabilities of
$1.69 trillion.

As reported in the Troubled Company Reporter on November 25, 2008,
the U.S. government entered into an agreement with Citigroup to
provide a package of guarantees, liquidity access, and capital.
As part of the agreement, the U.S. Treasury and the Federal
Deposit Insurance Corporation will provide protection against the
possibility of unusually large losses on an asset pool of
roughly $306 billion of loans and securities backed by
residential and commercial real estate and other such assets,
which will remain on Citigroup's balance sheet.  As a fee for this
arrangement, Citigroup issued preferred shares to the Treasury and
FDIC.  The Federal Reserve agreed to backstop residual risk in the
asset pool through a non-recourse loan.

Citigroup is one of the banks that, according to results of the
government's stress test, need more capital.


CITIGROUP INC: Discloses Ownership of DWS Auction Rate Preferreds
-----------------------------------------------------------------
Citigroup Inc. and its affiliates -- Citigroup Global Markets
Inc., Citigroup Financial Products Inc., and Citigroup Global
Markets Holdings Inc. -- disclose their ownership of 828 shares or
roughly 20.7% of Auction Rate Preferred Shares of DWS MUNICIPAL
INCOME TRUST.

CFP is the sole stockholder of CGM. CGM Holdings is the sole
stockholder of CFP.  Citigroup is the sole stockholder of CGM
Holdings.

Based in New York, Citigroup Inc. (NYSE: C) --
http://www.citigroup.com/-- is organized into four major segments
-- Consumer Banking, Global Cards, Institutional Clients Group,
and Global Wealth Management.  At June 30, 2009, Citigroup had
total assets of $1.84 trillion and total liabilities of
$1.69 trillion.

As reported in the Troubled Company Reporter on November 25, 2008,
the U.S. government entered into an agreement with Citigroup to
provide a package of guarantees, liquidity access, and capital.
As part of the agreement, the U.S. Treasury and the Federal
Deposit Insurance Corporation will provide protection against the
possibility of unusually large losses on an asset pool of
roughly $306 billion of loans and securities backed by
residential and commercial real estate and other such assets,
which will remain on Citigroup's balance sheet.  As a fee for this
arrangement, Citigroup issued preferred shares to the Treasury and
FDIC.  The Federal Reserve agreed to backstop residual risk in the
asset pool through a non-recourse loan.

Citigroup is one of the banks that, according to results of the
government's stress test, need more capital.


CITY CAPITAL: Clarifies Related Party Transactions
--------------------------------------------------
City Capital Corporation on September 8, 2009, filed with the
Securities and Exchange Commission an amendment to the Form 10-K
for the year ending December 31, 2008, to modify "Note 15: Related
Party Transactions in Item 8, Financial Statements and
Supplementary Data."  The Company entered into consulting
agreements with two marketing companies which are indirectly owned
by the Company's board of director, Waldo E. Brantley III.  As of
December 31, 2008, the Company has paid roughly $178,600 to the
two companies.  Note 15 has been amended to clarify the related
party transaction.

Specifically, the Company disclosed that as of December 31, 2008,
the Company holds a note receivable from Amorocorp with an
outstanding balance of $1,924,731.  The President of the Company
is also the President and a shareholder of the debtor.

In October 2004, the Company entered into an employment contract
with Gary Borglund, former President and the CEO of the Company.
Under the terms of the agreement Mr. Borglund was paid a base
amount of $80,000 per annum plus certain incentives as approved by
the Board of Directors of the Company. The Contract was terminate
as of December 31, 2006.  As of December 31, 2008, the Company had
an outstanding balance due to Mr. Borglund of $95,694 that is
included in accrued consulting.

On January 1, 2008, the President of the Company entered into an
employment agreement with the Company.  Under the terms of the
agreement the President is to be paid a base amount of $500,000
per annum paid in monthly installments of $41,667.  Additionally,
an annual bonus of the Company's common stock of $500,000 valued
on the effective renewal date of the agreement, one percent of any
net operating income generated by the Company, and one percent of
any funds raised and received by the Company based on the
fundraising and marketing efforts of the President.  During 2008,
the President received $537,117 in bonuses.

The Company's President has agreed to apply any accrued unpaid
officer compensation received from City Capital to the related
party receivable.

On June 5, 2008, the Company entered into a consulting services
agreement with Web3Direct, Inc., a Florida corporation.  100% of
the outstanding shares of common stock of WEB3Direct, Inc., is
held by Sadiq Family Limited Partnership, a Nevada partnership in
which, the Company's Executive Vice President and a director, owns
a 5% interest and his wife, Anne Banas, owns a 95% interest.
However, Mr. Brantley is the general partner of this partnership
and controls the voting power and the investment power over the
assets of this company.

Under this agreement, Web3Direct, Inc. is providing to the Company
all necessary services required in connection with providing
marketing and business growth consulting services.  Under the
terms of this agreement, which covers services commenced on
January 1, 2008, Web3Direct, Inc., is being paid a fixed monthly
retainer of $10,000 for the 12 months ended December 31, 2008.
Payment of the retainer was in the form of restricted shares of
the Company's common stock (valued based on the closing price of
this common stock on June 5, 2008 of $0.20 per share).  The
retainer is payable on the first of each calendar month in advance
(with the retainer for the period of January 1, 2008, through
June 30, 2008 due upon the execution of this agreement).  For the
year ended December 31, 2008, the Company has paid Web3Direct
roughly $124,600.

On June 5, 2008, the Company entered into an agreement with
REIAssure, Inc., a Florida corporation.  Under this agreement
REIAssure agreed to provide sales services for the Company,
working with leads provided by the Company and its affiliates, as
well as other sources, to create qualified clients which are able
to purchase properties provided by the Company.   All services
under this agreement were concluded prior to December 31, 2008.
REIAssure is controlled by Mr. Brantley.  For the year ended
December 31, 2008, the Company has paid REIAssure roughly $54,000.

A full-text copy of the Form 10-K/A is available at no charge at:

               http://ResearchArchives.com/t/s?449a

As reported by the Troubled Company, City Capital has yet to file
its quarterly report on Form 10-Q for period ended June 30, 2009.
The Company informed the Securities and Exchange in an August 14
filing that it was in the process of compiling and reviewing
information for the June 30 Form 10-Q, which process has not yet
been completed.

The Company also has not filed its quarterly report for the period
ended March 31, 2009.

In its report dated March 27, 2009, on the financial statements
for the years ended December 31, 2008 and 2007 -- Spector, Wong &
Davidian, LLP, in Pasadena, California -- the Company's
independent registered public accounting firm expressed
substantial doubt about the Company's ability to continue as a
going concern.  The Company's ability to continue as a going
concern is an issue raised as a result of cash flow constraint, an
accumulated deficit of $12,152,194 as of December 31, 2008, and
recurring losses from operations.  The Company continues to
experience net losses.  The Company's ability to continue as a
going concern is subject to the ability to generate a profit or
obtain necessary funding from outside sources, including obtaining
additional funding from the sale of its securities, increasing
sales or obtaining loans from various financial institutions where
possible.  The continued net losses and stockholders' deficit
increases the difficulty in meeting such goals and there can be no
assurances that such methods will prove successful.

As of December 31, 2008, the Company had total assets of
$2,531,761 and total liabilities of $4,839,438, resulting in
stockholders' deficit of $2,307,677.

                        About City Capital

City Capital Corporation is a professional management and
diversified holding company engaged in leveraging investments,
holdings and other assets to build value for investors and
shareholders.  The Company maintains stakes in industries such as
technology, biofuels, commercial laundry, and retail services.
The Company acquires and revitalizes distressed investment
opportunities in multiple industry segments, creating potentially
long-term returns for the Company.


CLAIRE'S STORES: Posts $3.7MM Net Loss for August 1 Quarter
-----------------------------------------------------------
Claire's Stores, Inc., reported a net loss of $3.733 million for
the three months ended August 1, 2009, from a net loss of $16.93
million for the three months ended August 2, 2008.  The Company
reported a net loss of $32.75 million for the six months ended
August 1, 2009, from a net loss of $52.50 million for the six
months ended August 2, 2008.

The Company reported net sales of $314.2 million for the 2009
second quarter, a 12.7% decrease from the 2008 second quarter.
The decrease was primarily attributable to the effect of foreign
currency exchange rate changes, a decline in same store sales and
the effect of store closures, partially offset by new store sales.
Sales would have declined 7.4% excluding the impact from changes
in foreign currency exchange rates.

Consolidated same store sales declined 6.9% in the fiscal 2009
second quarter caused primarily by a decline in average
transactions per store of 6.7%.  The decline in the number of
transactions reflects weaker traffic.  In North America, same
store sales decreased 9.9%, with sales at the Company's Icing
brand outperforming Claire's.  European same store sales declined
1.6%.

Chief Executive Officer Gene Kahn commented, "While we continue to
feel the effect of a challenging retail environment as well as the
impact of negative consumer confidence, our second quarter sales
performance had monthly sequential same store sales improvement.
During the second quarter, a decline in traffic coupled with a
highly promotional teen apparel specialty business caused a more
competitive environment for every customer dollar.  Since we are
very confident in our value proposition, we did not overreact to
the promotional activity, allowing us to improve our merchandise
margin.

"While it is difficult to compare our third quarter performance at
this point, because of various changes in the calendar, our
quarter to date same store sales are in the negative low single
digits.  Looking forward, we see no reason to believe the retail
environment will see significant near-term improvement and,
therefore, will continue to focus on controlling expenses and
maximizing available sales while generating positive free cash
flow."

At August 1, 2009, the Company had $2.85 billion in total assets;
and $190.73 million in total current liabilities and $2.72 billion
in total long-term and other liabilities, resulting in
$60.10 million in stockholders' deficit.  At August 1, 2009, cash
and cash equivalents were $182.4 million and $194.0 million
continued to be drawn on the Company's Revolving Credit Facility.
The Company drew the full available amount under the facility
during the 2008 third quarter to preserve the availability of the
commitment because a member of the facility syndicate, Lehman
Brothers, filed for bankruptcy.  The agent bank has not yet found
a replacement for Lehman Brothers in the facility syndicate, or
arranged for the assumption of Lehman Brothers' commitment by a
creditworthy entity.  The Company will continue to assess whether
to pay down all or a portion of this outstanding balance based on
various factors, including the creditworthiness of other syndicate
members and general economic conditions.

The Company used cash in operating activities of $11.1 million in
the fiscal 2009 second quarter.  This was net of $47.7 million of
interest payments.  Capital expenditures during the 2009 second
quarter were $5.9 million, of which $4.3 million related to new
store openings and remodeling projects, compared with
$16.0 million of capital expenditures during the second quarter
2008.  During the fiscal 2009 second quarter, the Company also
paid $10.0 million to retire $27.8 million of its Senior
Subordinated Notes, which generated a gain on early debt
extinguishment of $17.1 million.

A full-text copy of the Company's quarterly report on Form 10-Q is
available at no charge at http://ResearchArchives.com/t/s?44a5

Claire's Stores, Inc., is a specialty retailer of value-priced
fashion accessories and jewelry for girls and young women through
its two store concepts: Claire's(R) and Icing(R).  While the
latter operates only in North America, Claire's operates
worldwide.  As of August 1, 2009, Claire's Stores, Inc. operated
2,948 stores in North America and Europe.  Claire's Stores, Inc.
also operates through its subsidiary, Claire's Nippon, Co., Ltd.,
212 stores in Japan as a 50:50 joint venture with AEON, Co., Ltd.
The Company also franchises 194 stores in the Middle East, Turkey,
Russia, South Africa, Poland and Guatemala.


CLEAR CHANNEL: Bank Debt Trades at 32% Off in Secondary Market
--------------------------------------------------------------
Participations in a syndicated loan under which Clear Channel
Communications, Inc., is a borrower traded in the secondary market
at 68.22 cents-on-the-dollar during the week ended Sept. 11, 2009,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents a drop of 0.50
percentage points from the previous week, The Journal relates.
The loan matures Jan. 30, 2016.  The Company pays 365 basis points
above LIBOR to borrow under the facility.  The bank debt carries
Moody's Caa2 rating and Standard & Poor's CCC rating.  The debt is
one of the biggest gainers and losers among widely quoted
syndicated loans in secondary trading in the week ended Sept. 11,
among the 154 loans with five or more bids.

Clear Channel Communications, Inc. -- http://www.clearchannel.com/
-- is a diversified media company with three primary business
segments: radio broadcasting, outdoor advertising and live
entertainment. Clear Channel Communications is the operating
subsidiary of San Antonio, Texas-based CC Media Holdings, Inc.

Clear Channel Communications, Inc.'s balance sheet at March 31,
2009, showed total assets of $22.0 billion and total liabilities
of $25.4 billion, resulting in a members' deficit of $3.3 billion

The Troubled Company Reporter stated on Sept. 7, 2009, that
Moody's changed Clear Channel Communications, Inc.'s Probability-
of-Default rating to Caa3/LD from Caa3, reflecting Moody's view
that the recently completed exchange offer (which expired at 12:00
midnight EST on Aug. 27, 2009) constitutes an effective distressed
exchange default. Moody's expect to remove the "/LD" designation
shortly.  The outlook remains negative.  "Clear Channel's ratings
and negative outlook continue to reflect Moody's expectation that
the company will likely need to restructure its balance sheet,
either due to a violation of its senior secured leverage covenant
over the next several quarters, or within the next few years as
the company faces material maturities of debt with insufficient
liquidity to meet them and to much leverage to attract refinancing
capital," stated Neil Begley, a Moody's Senior Vice President.
Therefore, Moody's continues to believe that the company's capital
structure is unsustainable.


COMMERCECONNECT: Cygnus Expects Emergence in Two Weeks
------------------------------------------------------
Cygnus Business Media, Inc., said September 11 that the U.S.
Bankruptcy Court for the District of Delaware has confirmed Cygnus
Business Media companies' joint pre-packaged Chapter 11 Plan of
Reorganization at a hearing held Tuesday.  In confirming the Plan,
the U.S. Bankruptcy Court also approved the Disclosure Statement
and pre-filing solicitation of the Plan of Reorganization,
clearing the way for the company to emerge from Chapter 11
bankruptcy protection in the coming weeks.

Cygnus Business Media filed a pre-packaged Plan of Reorganization
on August 3 with the U.S. District of Delaware under the Chapter
11 bankruptcy code after being unable to reach agreement with one
of its 24 lenders on a financial restructuring plan.  The pre-
packaged Plan approved by the court calls for the restructuring of
secured debt by converting a portion to equity, providing a more
serviceable debt level and a stronger balance sheet.  It also
provides that all general unsecured creditors, including all
vendors, of Cygnus Business Media will be paid in full in the
ordinary course.

"The associates of Cygnus Business Media have continued to provide
high quality media and products that effectively serves our
advertisers, exhibitors, subscribers, attendees and readers
throughout this process," says Charles Carnaval, chief executive
officer of Cygnus Business Media.  "We have had full support of
our advertisers and vendors which has provided a great deal of
stability and focus.  We look forward to emerging as a much
stronger company financially and will continue to provide the best
in business-to-business media.  I want to take this time to thank
all of our employees for their ongoing hard work, to our vendors
for their continued support, and to our advertisers for placing
their faith in our products."

Cygnus Business Media is being advised by legal counsel, Curtis,
Mallet-Prevost, Colt & Mosle LLP; local counsel, Richards, Layton
& Finger, P.A.; financial advisors, Zolfo Cooper LLC; and
investment bankers, Miller Buckfire & Co., LLC.

Additional information about the company's restructuring may be
found online at http://www.CBMrestructuring.com/or by calling
(866) 397-6090.

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

     http://bankrupt.com/misc/CC_Prepack_DS.pdf
     http://bankrupt.com/misc/CC_Prepack_Plan.pdf

                       About CommerceConnect

CommerceConnect Media, doing business as Cygnus, is a business-to-
business publisher and communications company.  CommerceConnect's
brands include Qualified Remodeler, Firehouse, Equipment Today,
Kitchen and Bath Design News, and the CPA Technology Advisor.  In
total, CommerceConnect publishes 42 trade publications in 13
markets, with total circulation of more than 3 million.
CommerceConnect also operates 38 Web sites which generated more
than 180 million page views in 2008.  CommerceConnect also
produces more than 30 trade shows and events each year.

Cygnus Business Media's diverse portfolio serves 13 market
categories with print and interactive products, and live events.
Through its media, the company reaches more than 1.5 million print
subscribers, nearly 1 million industry professionals via its
Custom Marketing services group, and attracts 2 million unique
visitors to its websites monthly.  Cygnus Business Media provides
comprehensive, integrated advertising and marketing programs for
some of the world's strongest business-to-business brands. For
more information, visit http://www.cygnusb2b.com

CommerceConnect Media Holdings, Inc., together with affiliates,
including Cygnus Business Media Inc., filed for Chapter 11 on
August 3, 2009 (Bankr. D. Del. Case No. 09-12765).  Attorneys at
Richards, Layton & Finger, P.A., and Curtis, Mallet-Prevost, Colt
& Mosle LLP, serve as counsel to the Debtors.  Garden City Group
Inc. serves as noticing and claims agent.  Miller Buckfire & Co.,
LLC, is the Debtors' financial advisor.  Attorneys at Sidley
Austin represent General Electric Capital Corp., the first lien
agent, while attorneys at Paul, Hastings, Janofsky & Walker LLP
serve as counsel to Barclays Bank PLC, the second lien agent.
Judge Brendan Linehan Shannon presides over the case.  The
petition says CommerceConnect has $100,000,001 to $500,000,000 in
assets and debts.


CORUS BANK, CHICAGO: Closed; MB Financial Assumes All Deposits
--------------------------------------------------------------
Corus Bank, National Association, Chicago, Illinois, was closed
September 11 by the Office of the Comptroller of the Currency,
which appointed the Federal Deposit Insurance Corporation as
receiver.  To protect the depositors, the FDIC entered into a
purchase and assumption agreement with MB Financial Bank, National
Association, Chicago, Illinois, to assume all of the deposits of
Corus Bank, N.A.

The eleven branches of Corus Bank will reopen on their next
normally scheduled business day as branches of MB Financial Bank.
Depositors of Corus Bank will automatically become depositors of
MB Financial Bank.  Deposits will continue to be insured by the
FDIC, so there is no need for customers to change their banking
relationship to retain their deposit insurance coverage.
Customers should continue to use their existing branches until MB
Financial Bank can fully integrate the deposit records of Corus
Bank.

This evening and over the weekend, depositors of Corus Bank can
access their money by writing checks or using ATM or debit cards.
Checks drawn on the bank will continue to be processed.  Loan
customers should continue to make their payments as usual.

As of June 30, 2009, Corus Bank had total assets of $7 billion and
total deposits of approximately $7 billion.  MB Financial Bank
will pay the FDIC a premium of 0.2 percent to assume all of the
deposits of Corus Bank.  In addition to assuming all of the
deposits of the failed bank, MB Financial Bank agreed to purchase
approximately $3 billion of the assets, comprised mainly of cash
and marketable securities.  The FDIC will retain the remaining
assets for later disposition.  The FDIC plans to sell
substantially all of the remaining assets of Corus Bank in the
next 30 days in a private placement transaction.

Customers who have questions about the transaction can call the
FDIC toll-free at 1-800-823-5017.  Interested parties can also
visit the FDIC's Web site at:

     http://www.fdic.gov/bank/individual/failed/corus.html

The FDIC estimates that the cost to the Deposit Insurance Fund
(DIF) will be $1.7 billion.  MB Financial Bank's acquisition of
all the deposits was the "least costly" resolution for the FDIC's
DIF compared to alternatives.  Corus Bank is the 90th FDIC-insured
institution to fail in the nation this year, and the sixteenth in
Illinois.  The last FDIC-insured institution closed in the state
was Platinum Community Bank, Rolling Meadows, on September 4,
2009.


COYOTES HOCKEY: Balsillie, NHL Increase Bids for Hockey Team
-------------------------------------------------------------
Steven Church at Bloomberg News reports that Jim Balsillie and the
National Hockey League have increased their bids for Phoenix
Coyotes, less than two hours before the auction was scheduled to
end.

According to Bloomberg, Mr. Balsillie offered at least $50 million
to the city of Glendale and $192.5 million to all other creditors.
NHL, says the report, offered to pay almost all creditors in full
and guarantee at least $18.3 million to those who won't be fully
repaid.

Citing Glendale city attorney William R. Baldiga, Bloomberg
relates that the Glendale City Council will meet this week to
discuss the new offers.

Phil Wahba at Reuters states that a National Hockey League lawyer
told Mr. Balsillie on Friday that he will need to apologize if he
wants to acquire Phoenix Coyotes.  Reuters says that the NHL
accused Mr. Balsillie of trying to use the bankruptcy system to
dodge its authority to decide where a team can move, as both
Mr. Balsillie and Phoenix Coyotes didn't inform the league of the
offer.

According to Bloomberg, Mr. Balsillie has asked Judge Redfield T.
Baum to allow him to buy and move the bankrupt Phoenix Coyotes to
a city about 40 miles from Toronto over the league owners'
objections.  His lawyers argued that the league denied
Mr. Balsillie's ownership application out of spite and to protect
one of its most profitable teams, the Toronto Maple Leafs, from
competition.  The league's constitution gives every team a veto to
prevent a rival from moving into its territory.

Reuters relates that the court would make his decision on the
auction late this week.

Dewey Ranch Hockey LLC, Arena Management Group, LLC, Coyotes
Holdings, LLC, and Coyotes Hockey, LLC -- owners and affiliates of
the Phoenix Coyotes National Hockey League team -- filed for
Chapter 11 protection (Bankr. D. Ariz. Case No. 09-09488) on
May 5, 2009.  The Debtors are represented by Thomas J. Salerno,
Esq., at Squire, Sanders & Dempsey, LLP, in Phoenix, and estimate
their assets and liabilities are between $100 million and
$500 million.

Jim Balsillie, Research in Motion Ltd.'s co-chief executive
officer, offered to buy the Phoenix Coyotes for $212 million and
move the NHL team to Hamilton, Ontario, and the League balked at
the relocation proposal.  Mr. Balsillie was unsuccessful in 2007
when he attempted to buy and relocate the Nashville Predators, and
lost a similar bid in 2006 to buy and relocate the Pittsburgh
Penguins.


CRAZY KAREN'S: Closes After Failing to Pay Drink Tax
----------------------------------------------------
Karamagi Rujumba at Pittsburgh Post-Gazette reports that Common
Pleas Judge Robert J. Colville ordered the closure of Todd's By
the Bridge and Crazy Karen's bars due to failure of paying
Allegheny County's 7% drink tax.

According to Post-Gazette, Todd's By the Bridge, owes the county
some $50,000, and Crazy Karen's, owes about $20,000.  Post-Gazette
relates that Treasurer John Weinstein, whose office is in charge
of collecting the tax, said that after several attempts to collect
taxes from the bars, he ran out of patience.

Talerico's bar was also part of the judge's order, but its owner
agreed to pay $27,000 in back taxes, Post-Gazette states.


DANA HOLDING: Bank Debt Trades at 22% Off in Secondary Market
-------------------------------------------------------------
Participations in a syndicated loan under which Dana Holding
Corporation is a borrower traded in the secondary market at 78.07
cents-on-the-dollar during the week ended Sept. 11, 2009,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 1.39
percentage points from the previous week, The Journal relates.
The loan matures on Jan. 31, 2015.  The Company pays 375 basis
points above LIBOR to borrow under the facility.  The bank debt
carries Moody's Caa1 rating and Standard & Poor's B rating.  The
debt is one of the biggest gainers and losers among widely quoted
syndicated loans in secondary trading in the week ended Sept. 11,
among the 154 loans with five or more bids.

Based in Toledo, Ohio, Dana Holding Corporation  --
http://www.dana.com/-- designs and manufactures products for
every major vehicle producer in the world, and supplies
drivetrain, chassis, structural, and engine technologies to those
companies.  Dana employs 46,000 people in 28 countries.  Dana is
focused on being an essential partner to automotive, commercial,
and off-highway vehicle customers, which collectively produce more
than 60 million vehicles annually.  Dana has facilities in China
in the Asia-Pacific, Argentina in the Latin-American regions and
Italy in Europe.

Dana Corp., together with affiliates, affiliates filed for Chapter
11 protection on March 3, 2006 (Bankr. S.D.N.Y. Case No. 06-
10354).  Attorneys at Jones Day represented the Debtors.  It
emerged from bankruptcy Jan. 31, 2008, and the reorganized entity
was named Dana Holding Corporation.

As reported in the Troubled Company Reporter on June 9, 2009,
Moody's Investors Service lowered the Corporate Family Rating of
Dana Holding Corporation to 'Caa2', raised the Probability of
Default Rating to 'Caa1', and adjusted the ratings of certain debt
instruments.  According to Moody's, the positioning of Dana's PDR
at 'Caa1' reflects ongoing pressures the company faces from the
continued erosion in the global automotive and commercial vehicle
markets.


DAVID LEE WOODFILL: Case Summary & 16 Largest Unsecured Creditors
-----------------------------------------------------------------
Joint Debtors: David Lee Woodfill
               Marietta Lynne Woodfill
               PO Box 992853
               Redding, CA 96099

Bankruptcy Case No.: 09-39368

Chapter 11 Petition Date: September 9, 2009

Court: United States Bankruptcy Court
       Eastern District of California (Sacramento)

Judge: Thomas Holman

Debtors' Counsel: Clark D. Nicholas, Esq.
                  1930 West St
                  Redding, CA 96001-1765
                  Tel: (530) 243-1824

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

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

A full-text copy of the Debtors' petition, including a list of
their 16 largest unsecured creditors, is available for free at:

            http://bankrupt.com/misc/caeb09-39368.pdf

The petition was signed by the Joint Debtors.


DELTA AIR: Courting Japan Airlines for Minority Stake
-----------------------------------------------------
Delta Air Line Inc. is seeking a minority stake of around
$300 million in Japan Airlines Corp., much to the chagrin of
American Airlines, Mike Esterl at The Wall Street Journal reports,
citing people familiar with the matter.

The Journal relates that Delta also wants JAL to join its rival
SkyTeam alliance.

According to The Journal, AMR is in talks with Japan Airlines
Corp. to forge an expansive joint venture with the carrier, to
keep JAL away from Delta.

The Journal says that American Airlines would also consider taking
a minority stake in JAL, although any such investment would likely
be capped at hundreds of millions of dollars.  The report states
that American Airlines, which doesn't have a hub in Japan, relies
on JAL.  The two airlines, says the report, have had code-sharing
deals since the 1990s.

With its acquisition of Northwest Airlines, Atlanta, Georgia-based
Delta Air Lines (NYSE: DAL) -- http://www.delta.com/or
http://www.nwa.com/-- is now the world's largest airline.  From
its hubs in Atlanta, Cincinnati, Detroit, Memphis, Minneapolis-St.
Paul, New York-JFK, Salt Lake City and Tokyo-Narita, Delta, its
Northwest subsidiary and Delta Connection carriers offer service
to more than 376 destinations worldwide in 66 countries and serves
more than 170 million passengers each year.  Delta's marketing
alliances allow customers to earn and redeem either SkyMiles or
WorldPerks on more than 16,000 daily flights offered by SkyTeam
and other partners.  The merger closed on October 29, 2008.

Northwest and 12 affiliates filed for Chapter 11 protection on
September 14, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-17930).
Bruce R. Zirinsky, Esq., and Gregory M. Petrick, Esq., at
Cadwalader, Wickersham & Taft LLP in New York, and Mark C.
Ellenberg, Esq., at Cadwalader, Wickersham & Taft LLP in
Washington, represented the Northwest Debtors in their
restructuring efforts.  On May 21, 2007, the Court confirmed the
Northwest Debtors' amended plan.  That amended plan took effect
May 31, 2007.

Delta and 18 affiliates filed for Chapter 11 protection on
September 14, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-17923).
Marshall S. Huebner, Esq., at Davis Polk & Wardwell, represented
the Delta Debtors in their restructuring efforts. On April 25,
2007, the Court confirmed the Delta Debtors' plan.  That plan
became effective on April 30, 2007.

(Bankruptcy Creditors Service Inc. publishes Delta Air Lines
Bankruptcy News, http://bankrupt.com/newsstand/or 215/945-7000).

As reported by the TCR on June 29, 2009, Fitch Ratings has
downgraded the debt ratings of Delta Air Lines, Inc., and its
wholly owned subsidiary Northwest Airlines, Inc. -- (i) DAL's
Issuer Default Rating to 'B-' from 'B', First-lien senior secured
credit facilities to 'BB-/RR1' from 'BB/RR1', and Second-lien
secured credit facility to 'B-/RR4' from 'B/RR4', and (ii) NWA's
IDR to 'B-' from 'B'; and Secured bank credit facility to 'BB-
/RR1' from 'BB/RR1'.  The downgrade of DAL's ratings reflects the
continued erosion of the airline's near-term cash flow generation
potential that has resulted from extremely weak business travel
demand and large year-over-year declines in passenger revenue per
available seat mile.


DENISE MYERS-BYRD: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Denise Lynne Myers-Byrd
        2531 Village Manor Way
        Raleigh, NC 27614

Bankruptcy Case No.: 09-07806

Chapter 11 Petition Date: September 10, 2009

Court: United States Bankruptcy Court
       Eastern District of North Carolina (Wilson)

Judge: Randy D. Doub

Debtor's Counsel: Danny Bradford, Esq.
                  Paul D. Bradford, PLLC
                     dba Bradford Law Offices
                  6512 Six Forks Road, Suite 304
                  Raleigh, NC 27615
                  Tel: (919) 758-8879
                  Fax: (919) 803-0683
                  Email: dbradford@bradford-law.com

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

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

According to the schedules, the Company has assets of at least
$1,363,527, and total debts of $1,691,694.

A full-text copy of Ms. Myers-Byrd's petition, including a list of
her 20 largest unsecured creditors, is available for free at:

            http://bankrupt.com/misc/nceb09-07806.pdf

The petition was signed by Ms. Myers-Byrd.


DOMINIC CATALANO: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Dominic Robert Catalano
        309 Stafford Court
        Smyrna, TN 37167

Bankruptcy Case No.: 09-10328

Chapter 11 Petition Date: September 10, 2009

Court: United States Bankruptcy Court
       Middle District of Tennessee (Nashville)

Judge: George C. Paine II

Debtor's Counsel: Steven L. Lefkovitz, Esq.
                  Law Offices Lefkovitz & Lefkovitz
                  618 Church St., Ste. 410
                  Nashville, TN 37219
                  Tel: (615) 256-8300
                  Fax: (615) 255-4516
                  Email: slefkovitz@lefkovitz.com

Estimated Assets: $100,001 to $500,000

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

According to the schedules, the Company has assets of at least
$193,125, and total debts of $1,103,593.

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

             http://bankrupt.com/misc/tnmb09-10328.pdf

The petition was signed by Mr. Catalano.


E*TRADE FIN'L: CEO Layton to Step Down; Board OKs Severance
-----------------------------------------------------------
E*TRADE Financial Corporation on September 9, 2009, said Donald H.
Layton will step down as Chairman and CEO of the Company, and as a
member of the Board of Directors, at the end of 2009 on schedule
when his contract expires.  Mr. Layton will work in partnership
with a special committee of the Board of Directors to oversee a
search for his successor.

On September 8, 2009, the Company's Board of Directors, on
recommendation of its Compensation Committee, approved a
compensation package for Mr. Layton as part of a transition
agreement for his remaining term in recognition of his overseeing
a recapitalization of E*TRADE's balance sheet and leading a
restructuring effort.  This package provides for a payment of
$375,000 per month through the end of the year and a payment of an
additional $1.5 million at the end of the year in return for his
commitment to assist with the search for and transition to a
successor.

                      About E*TRADE FINANCIAL

The E*TRADE FINANCIAL (NASDAQ: ETFC) family of companies provides
financial services including trading, investing and related
banking products and services to retail investors.  Securities
products and services are offered by E*TRADE Securities LLC
(Member FINRA/SIPC).  Bank products and services are offered by
E*TRADE Bank, a Federal savings bank, Member FDIC, or its
subsidiaries.

                          *     *     *

The Company's current senior debt ratings are Caa3 by Moody's
Investor Service, CC/CCC-(3) by Standard & Poor's and B (high) by
Dominion Bond Rating Service.  The Company's long-term deposit
ratings are Ba3 by Moody's Investor Service, CCC+ (developing) by
Standard & Poor's and BB by DBRS.


EARL JONES CONSULTING: Owner Loses Dorval Condo to Creditors
------------------------------------------------------------
Richard Deschamps at CJAD reports that Earl Jones has lost his
Dorval condo to creditors, who are doing an inventory on what's
left in the property.

Anne Sutherland at The Gazette relates that Mr. Jones had been
living in the condo since being charged with theft and fraud on
July 28, 2009.

According to The Gazette, Mr. Jones' lawyer asked in a letter sent
to the trustees Tuesday that they let his client stay in the condo
until the end of the month, but the request was denied.

The Gazette states that bankruptcy trustees have been given keys
to three other properties owned either jointly by Mr. Jones and
his wife, Maxine, or by Maxine alone, while all four properties
will be handed over to real-estate agents to be put up for sale in
the coming weeks.

Earl Jones Consulting was a company ran by investment adviser Earl
Jones.  The Company in July 2009 was declared bankrupt by
the Quebec Superior Court in Montreal.  Quebec's securities
regulator alleges Mr. Jones swindled at least 50 investors out of
at least $30 million in a possible Ponzi scheme.


ERICKSON CUSTOM POOLS: In Chapter 7 Liquidation
-----------------------------------------------
Erickson Custom Pools and Spas Inc. filed for Chapter 7 bankruptcy
in August to liquidate assets.  In its filing, Erickson Custom
Pools listed $260,050 in assets and $2.47 million in liabilities,
The Orlando Sentinel said.

Independently owned units, in Clermont, Winter Haven and Tampa
locations, which include Erickson Pools Clermont by DASA Ventures,
are still operating.

According to its Web site, Erickson Custom Pools & Spas, Inc., was
founded in 1984 by Nils and Anji Erickson with one driving
principle, build the best pools for the best customers using the
best materials and technology available at a fair and affordable
price.  Based on these principles Erickson Pools has gone on to
win over 60 awards and citations for its work, and has been
recognized five times as being one of the Top 100 Pool Builders in
North America by Aqua Magazine


ETERNAL ENERGY: Posts $336,000 Net Loss in Quarter Ended June 30
----------------------------------------------------------------
Eternal Energy Corp. posted a net loss of $336,012 for three
months ended June 30, 2009, compared with a net loss of $564,435
for the same period in 2008.

For six months ended June 30, 2009, the Company posted a net loss
of $833,499 compared with a net loss of $331,717 for the same
period in 2008.

The Company's balance sheet at June 30, 2009, showed total assets
of $6,348,646, total liabilities of $228,971 and a stockholders'
equity of $6,119,675.

A full-text copy of the Company's Form 10-Q is available for free
at http://ResearchArchives.com/t/s?44a3

Based in Littleton, Colorado, Eternal Energy Corp. (OTC BB: EERG)
-- http://www.eternalenergy.com/-- was incorporated in the state
of Nevada in March 2003.  The Company engages in the acquisition,
exploration, development and producing of oil and gas properties.
At March 31, 2008, the company has entered into participation
agreements related to oil and gas exploration projects in the Big
Sand Spring Valley Prospect and the Cherry Creek Project, both
located in Nye County, Nevada.  The company has also acquired a
75% working interest in West Ranch Field in Jackson County, Texas.

                       Going Concern Doubt

On April 8, 2009, Kelly & Company in Costa Mesa, California
expressed substantial doubt about Eternal Energy Corp.'s ability
to continue as a going concern after auditing the Company's
financial statements for the fiscal years ended Dec. 31, 2008, and
2007.  The Company noted that the Company incurred net losses for
the years ended Dec. 31, 2008, and 2007, and must rely on the sale
of its common stock and borrowing until it is able to successfully
implement its business plan and generate sufficient revenues in
the future to sustain its ongoing operations.


FAIRFAX FINANCIAL: Odyssey Re Deal Won't Affect Fitch's Ratings
---------------------------------------------------------------
Fairfax Financial Holdings Limited's recently announced proposal
to acquire the remaining 27.4% of Odyssey Re Holdings Corp. it
doesn't currently own does not affect ratings on Fairfax or any of
its subsidiaries, according to Fitch Ratings.

This proposed acquisition is consistent with Fitch's view of
Fairfax as a 'true' holding company acquiring and overseeing
subsidiary insurance and reinsurance companies under a
decentralized management approach.  The cash consideration of $60
per share represents an almost 20% premium over the closing price
when Fairfax announced the proposed transaction on Sept. 4, 2009,
and will be funded with a $1 billion equity offering under its
existing shelf prospectus.  Odyssey Re has been a public company
since Fairfax sold a 26% stake in 2001 via an initial public
offering.  The proposed acquisition follows Fairfax's purchase in
early 2009 of the 36.4% of Northbridge Financial Corp.
(Northbridge) it did not already own for $546 million, which was
funded from holding company cash.

Fitch's ratings of Fairfax are based on its role as a
'functioning' parent holding company with varied subsidiary
profiles and a highly complex cash flow profile.  Fitch's ratings
of Fairfax's three core operating businesses - primary U.S.
insurance operations through Crum & Forster, Canadian insurance
operations through Northbridge and reinsurance operations through
Odyssey Re -- are rated at stand-alone levels currently, with no
enhancement or detriment from the parent company.  However, with
all three core operating businesses returning to being wholly
owned subsidiaries of the company, Fitch may consider a more group
rating approach over time.  Going forward, Fairfax should also
benefit from increased upstream dividend capacity through its 100%
owned operating subsidiaries.  This follows a period where Fairfax
needed the financial flexibility to raise cash from partial IPOs
of both Odyssey Re and Northbridge.

Fairfax's debt-to-total-capital ratio is down to about 22.5% on
June 30, 2009, compared with 23.4% on Dec. 31, 2008.  Following
the company's recent CAN$400 million debt issuance in August and
expected $1 billion equity issuance, pro forma debt-to-total-
capital on June 30, 2009 increases only slightly and remains below
Fitch's expected range of 25%-30%.  Earnings-based interest
coverage (excluding realized gains) improved to 3.6 times in the
first six months of 2009 from negative coverage in 2008.  Fairfax
also continues to maintain a sizable amount of holding company
cash, short-term investments and marketable securities of
$880 million on June 30, 2009, and expects to have in excess of
$1 billion following completion of the proposed acquisition of
Odyssey Re and expected equity issuance.

Fitch currently rates Fairfax and subsidiaries:

Fairfax Financial Holdings Limited

  -- Issuer Default Rating 'BBB-';
  -- Senior debt 'BB+';
  -- $182 million 7.75% due April 15, 2012 'BB+';
  -- $91 million 8.25% due Oct.  1, 2015 'BB+';
  -- $283 million 7.75% due June 15, 2017 'BB+';
  -- $144 million 7.375% due April 15, 2018 'BB+';
  -- CAN$400 million 7.5% due 2019 'BB+'.
  -- $92 million 8.3% due April 15, 2026 'BB+';
  -- $91 million 7.75% due July 15, 2037 'BB+'.

Fairfax, Inc.

  -- IDR 'BBB-'.

Odyssey Re Holdings Corp.

  -- IDR 'BBB';
  -- $50 million series A unsecured due March 15, 2021 'BBB-';
  -- $50 million series B unsecured due March 15, 2016 'BBB-';
  -- $40 million series C unsecured due Dec. 15, 2021 'BBB-';
  -- $225 million 7.65% due Nov.  1, 2013 'BBB-';
  -- $125 million 6.875% due May 1, 2015 'BBB-';
  -- $50 million series A preferred shares 'BB+';
  -- $47 million series B preferred shares 'BB+'.

Odyssey America Reinsurance Corp.

  -- Insurer Financial Strength (IFS) 'A-'.

Crum & Forster Holdings Corp.

  -- IDR 'BB+';
  -- $330 million 7.75% due May 1, 2017 'BB'.

Crum & Forster Insurance Group:
Crum and Forster Insurance Company
Crum & Forster Indemnity Company
The North River Insurance Company
United States Fire Insurance Company

  -- IFS 'BBB'.

Northbridge Financial Insurance Group:
Commonwealth Insurance Company
Commonwealth Insurance Company of America
Federated Insurance Company of Canada
Lombard General Insurance Company of Canada
Lombard Insurance Company
Markel Insurance Company of Canada
Zenith Insurance Company (Canada)

  -- IFS 'BBB+'.

The Rating Outlook is Stable.


FAIRPOINT COMM: Bank Debt Trades at 24% Off in Secondary Market
---------------------------------------------------------------
Participations in a syndicated loan under which FairPoint
Communications, Inc., is a borrower traded in the secondary market
at 76.39 cents-on-the-dollar during the week ended Sept. 11, 2009,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 0.47
percentage points from the previous week, The Journal relates.
The loan matures on March 31, 2015.  The Company pays 275 basis
points above LIBOR to borrow under the facility.  The bank debt
carries Moody's Caa1 rating and Standard & Poor's CC rating.  The
debt is one of the biggest gainers and losers among widely quoted
syndicated loans in secondary trading in the week ended Sept. 11,
among the 154 loans with five or more bids.

Headquartered in Charlotte, North Carolina, FairPoint
Communications, Inc. -- http://www.fairpoint.com/-- owns and
operates local exchange companies in 18 states offering advanced
communications with a personal touch, including local and long
distance voice, data, Internet, television, and broadband
services.  FairPoint is traded on the New York Stock Exchange
under the symbol FRP.

As reported by Troubled Company Reporter on Aug. 5, 2009, Standard
& Poor's Ratings Services said it reassigned a 'CC' corporate
credit rating, with a negative outlook to FairPoint, from the
previous 'SD'.  S&P also raised the rating to 'C' from 'D' on the
approximate $90 million of aggregate principal amount remaining on
the company's unsecured notes that did not participate in its
exchange offer.  The recovery rating on the notes is '6',
representing negligible (0%-10%) recovery prospects in the event
of a payment default.  S&P also removed the 'CC' secured bank loan
rating from CreditWatch, where it had been placed with negative
implications on June 25, 2009, following the company's announced
note exchange.  The loan has a '3' recovery rating, representing
meaningful (50%-80%) recovery prospects in the event of a payment
default.


FERRELLGAS LP: S&P Assigns 'B+' Rating on $300 Mil. Senior Debt
---------------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its 'B+' issue
and '4' recovery ratings to operating company Ferrellgas L.P.'s
$300 million 9.125% senior unsecured debt offering due 2017.
S&P's research update dated Sept. 9, 2009 indicated an issue size
of $250 million, however due to favorable market conditions, the
company successfully upsized the deal to $300 million.

This increase does not affect the ratings or stable outlook.


FORD MOTOR: Bank Debt Trades at 12.2% Off in Secondary Market
-------------------------------------------------------------
Participations in a syndicated loan under which Ford Motor Co. is
a borrower traded in the secondary market at 87.80 cents-on-the-
dollar during the week ended Sept. 11, 2009, according to data
compiled by Loan Pricing Corp. and reported in The Wall Street
Journal.  This represents an increase of 1.55 percentage points
from the previous week, The Journal relates.  The loan matures on
Dec. 15, 2013.  The Company pays 300 basis points above LIBOR to
borrow under the facility.  The bank debt carries Moody's Ca
rating and Standard & Poor's CCC+ rating.  The debt is one of the
biggest gainers and losers among widely quoted syndicated loans in
secondary trading in the week ended Sept. 11, among the 154 loans
with five or more bids.

Headquartered in Dearborn, Michigan, Ford Motor Co. (NYSE: F) --
http://www.ford.com/-- manufactures or distributes automobiles in
200 markets across six continents.  With about 260,000 employees
and about 100 plants worldwide, the company's core and affiliated
automotive brands include Ford, Jaguar, Land Rover, Lincoln,
Mercury, Volvo, Aston Martin, and Mazda.  The Company provides
financial services through Ford Motor Credit Company.  The Company
has operations in Japan in the Asia Pacific region.  In Europe,
the Company maintains a presence in Sweden, and the United
Kingdom.  The Company also distributes its brands in various
Latin-American regions, including Argentina and Brazil.

As reported in the Troubled Company Reporter on Sept. 7, 2009,
Moody's upgraded the Corporate Family Rating of Ford Motor Company
to Caa1 from Caa3, and also raised the company's Speculative Grade
Liquidity rating to SGL-3 from SGL-4.  The rating outlook was
changed to Stable from Negative.  Ford's Probability of Default
Rating remains at Caa3.  In a related action, Moody's placed the
Caa1 senior unsecured rating of Ford Motor Credit Company LLC on
review for possible upgrade.

The rating actions reflect Moody's belief that after a period of
intensive restructuring of its operations and balance sheet,
Ford's business viability has significantly improved.  The
positioning of the CFR rating at Caa1 balances the substantial
achievements the company has made in restructuring its operations
and rebuilding competitiveness against the expectation that even
with these improvements meaningful earnings and cash flow
generation will not be evident before 2011.  Moody's believes that
Ford has adequate liquidity to bridge itself until 2011 as
reflected in the upgrade of the SGL rating to SGL-3.
Notwithstanding the upgrade of the CFR rating, Ford's PDR is being
maintained at Caa3 due to the continuing potential that the
company might undertake further balance sheet restructuring
initiatives (such as an exchange offer or below-par tender for
outstanding obligations) that Moody's would view as a default for
rating purposes.


FORD MOTOR: Inks Tax Benefit Preservation Plan With Computershare
-----------------------------------------------------------------
Ford Motor Company on September 11, 2009, entered into the Tax
Benefit Preservation Plan with Computershare Trust Company, N.A.,
as rights agent.

The Board of Directors adopted the Plan in an effort to protect
stockholder value by attempting to protect against a possible
limitation on our ability to use net operating losses, tax credits
and other tax assets to reduce potential future federal income tax
obligations.

Through year-end 2008, Ford had tax attributes, including net
operating losses, capital losses and tax credit carryforwards,
that would offset approximately $19 billion of taxable income.
Ford can utilize the tax attributes in certain circumstances to
offset taxable income and reduce its federal income tax liability.

"In the past, we have experienced substantial operating losses,
and under the Internal Revenue Code of 1986, as amended, and rules
promulgated by the Internal Revenue Service, we may "carry
forward" these losses in certain circumstances to offset future
earnings and thus reduce our federal income tax liability, subject
to certain requirements and restrictions.  To the extent that the
Tax Attributes do not otherwise become limited, we believe that we
will be able to use a significant amount of the Tax Attributes,
and therefore these Tax Attributes could be a substantial asset to
us.  If, however, we experience an "ownership change," as defined
in Section 382 of the Code, our ability to use the Tax Attributes
will be substantially limited, and the timing of the usage of the
Tax Attributes could be substantially delayed, which could
therefore significantly impair the value of the Tax Attributes,"
Ford said in a regulatory filing.

The Board of Directors of the Company declared a dividend of one
preferred share purchase right for each outstanding share of
common stock, par value $0.01 per share, of the Company and each
outstanding share of Class B stock, par value $0.01 per share, of
the Company under the terms of the Plan.

The dividend is payable on September 25, 2009, to the stockholders
of record as of the close of business on September 25, 2009.  Each
Right entitles the registered holder to purchase from the Company
one one-thousandth of a share of Series A Junior Participating
Preferred Stock, par value $1.00 per share, of the Company at a
price of $35.00 per one one-thousandth of a share of Preferred
Stock, subject to adjustment.

Until the earlier to occur of (i) the close of business on the
tenth business day following the public announcement that a person
or group has become an "Acquiring Person" by acquiring beneficial
ownership of 4.99% or more of the outstanding shares of Common
Stock (or the Board becoming aware of an Acquiring Person, as
defined in the Plan) or (ii) the close of business on the tenth
business day (or, except in certain circumstances, such later date
as may be specified by the Board) following the commencement of,
or announcement of an intention to make, a tender offer or
exchange offer the consummation of which would result in the
beneficial ownership by a person or group (with certain
exceptions) of 4.99% or more of the outstanding shares of Common
Stock (the earlier of such dates being called the "Distribution
Date"), the Rights will be evidenced, with respect to Common Stock
and Class B Stock certificates outstanding as of the Record Date
(or any book-entry shares in respect thereof), by such Common
Stock or Class B Stock certificate (or registration in book-entry
form) together with the summary of rights describing the Plan and
mailed to stockholders of record on the Record Date, and the
Rights will be transferable only in connection with the transfer
of Common Stock or Class B Stock.

Any person or group that beneficially owns 4.99% or more of the
outstanding shares of Common Stock on September 11, 2009 will not
be deemed an Acquiring Person unless and until such person or
group acquires beneficial ownership of additional shares of Common
Stock representing 0.5% or more of the shares of Common Stock then
outstanding.  Under the Plan, the Board may, in its sole
discretion, exempt any person or group from being deemed an
Acquiring Person for purposes of the Plan if the Board determines
that such person's or group's ownership of Common Stock will not
jeopardize or endanger the availability of the Company, or
otherwise limit in any way the use of, the Company's net operating
losses, tax credits and other tax assets.

The Plan provides that, until the Distribution Date (or earlier
expiration or redemption of the Rights), the Rights will be
attached to and will be transferred with and only with the Common
Stock and Class B Stock.  Until the Distribution Date (or the
earlier expiration or redemption of the Rights), new shares of
Common Stock and Class B Stock issued after the Record Date upon
transfer or new issuances of Common Stock and Class B Stock will
contain a notation incorporating the Plan by reference (with
respect to shares represented by certificates) or notice thereof
will be provided in accordance with applicable law (with respect
to uncertificated shares).  Until the Distribution Date (or
earlier expiration of the Rights), the surrender for transfer of
any certificates representing shares of Common Stock and Class B
Stock outstanding as of the Record Date, even without such
notation or a copy of the Summary of Rights, or the transfer by
book-entry of any uncertificated shares of Common Stock and Class
B Stock, will also constitute the transfer of the Rights
associated with such shares.  As soon as practicable following the
Distribution Date, separate certificates evidencing the Rights
will be mailed to holders of record of the Common Stock and Class
B Stock as of the close of business on the Distribution Date and
such separate Right Certificates alone will evidence the Rights.

The Rights are not exercisable until the Distribution Date.  The
Rights will expire upon the earliest of the close of business on
September 11, 2012 (unless that date is advanced or extended by
the Board), the time at which the Rights are redeemed or exchanged
under the Plan, the final adjournment of the Company's 2010 annual
meeting of stockholders if stockholder approval of the Plan has
not been received prior to that time, the repeal of Section 382 of
the Internal Revenue Code of 1986, as amended, or any successor
statute if the Board determines that the Plan is no longer
necessary for the preservation of the Company's Tax Attributes, or
the beginning of a taxable year of the Company to which the Board
determines that no Tax Attributes may be carried forward.

The Purchase Price payable, and the number of shares of Preferred
Stock or other securities or property issuable, upon exercise of
the Rights is subject to adjustment from time to time to prevent
dilution (i) in the event of a stock dividend on, or a
subdivision, combination or reclassification of, the Preferred
Stock, (ii) upon the grant to holders of the Preferred Stock of
certain rights or warrants to subscribe for or purchase Preferred
Stock at a price, or securities convertible into Preferred Stock
with a conversion price, less than the then-current market price
of the Preferred Stock or (iii) upon the distribution to holders
of the Preferred Stock of evidences of indebtedness or assets
(excluding regular periodic cash dividends or dividends payable in
Preferred Stock) or of subscription rights or warrants (other than
those referred to).

The number of outstanding Rights is subject to adjustment in the
event of a stock dividend on the Common Stock and Class B Stock
payable in shares of Common Stock or Class B Stock or
subdivisions, consolidations or combinations of the Common Stock
occurring, in any such case, prior to the Distribution Date.

Shares of Preferred Stock purchasable upon exercise of the Rights
will not be redeemable.  Each share of Preferred Stock will be
entitled, when, as and if declared, to a minimum preferential
quarterly dividend payment of the greater of (a) $10.00 per share,
and (b) an amount equal to 1,000 times the dividend declared per
share of Common Stock.  In the event of liquidation, dissolution
or winding up of the Company, the holders of the Preferred Stock
will be entitled to a minimum preferential payment of the greater
of (a) $1.00 per share (plus any accrued but unpaid dividends),
and (b) an amount equal to 1,000 times the payment made per share
of Common Stock.  Each share of Preferred Stock will have 1,000
votes, voting together with the Common Stock and Class B Stock.
Finally, in the event of any merger, consolidation or other
transaction in which outstanding shares of Common Stock are
converted or exchanged, each share of Preferred Stock will be
entitled to receive 1,000 times the amount received per share of
Common Stock.  These rights are protected by customary
antidilution provisions.

Because of the nature of the Preferred Stock's dividend,
liquidation and voting rights, the value of the one one-thousandth
interest in a share of Preferred Stock purchasable upon exercise
of each Right should approximate the value of one share of Common
Stock.

In the event that any person or group becomes an Acquiring Person,
each holder of a Right, other than Rights beneficially owned by
the Acquiring Person (which will thereupon become null and void),
will thereafter have the right to receive upon exercise of a Right
(including payment of the Purchase Price) that number of shares of
Common Stock having a market value of two times the Purchase
Price.

At any time after any person or group becomes an Acquiring Person
but prior to the acquisition by such Acquiring Person of
beneficial ownership of 50% or more of the voting power of the
shares of Common Stock and Class B Stock then outstanding, the
Board may exchange the Rights (other than Rights owned by such
Acquiring Person, which will have become null and void), in whole
or in part, for shares of Common Stock or Preferred Stock (or a
series of the Company's preferred stock having equivalent rights,
preferences and privileges), at an exchange ratio of one share of
Common Stock, or a fractional share of Preferred Stock (or other
stock) equivalent in value thereto, per Right (subject to
adjustment for stock splits, stock dividends and similar
transactions).

With certain exceptions, no adjustment in the Purchase Price will
be required until cumulative adjustments require an adjustment of
at least 1% in such Purchase Price.  No fractional shares of
Preferred Stock or Common Stock will be issued (other than
fractions of Preferred Stock which are integral multiples of one
one-thousandth of a share of Preferred Stock, which may, at the
election of the Company, be evidenced by depositary receipts), and
in lieu thereof an adjustment in cash will be made based on the
current market price of the Preferred Stock or the Common Stock.

At any time prior to the time an Acquiring Person becomes such,
the Board may redeem the Rights in whole, but not in part, at a
price of $0.001 per Right payable, at the option of the Company,
in cash, shares of Common Stock or such other form of
consideration as the Board shall determine.  The redemption of the
Rights may be made effective at such time, on such basis and with
such conditions as the Board in its sole discretion may establish.
Immediately upon any redemption of the Rights, the right to
exercise the Rights will terminate and the only right of the
holders of Rights will be to receive the Redemption Price.

For so long as the Rights are then redeemable, the Company may,
except with respect to the Redemption Price, amend the Plan in any
manner.  After the Rights are no longer redeemable, the Company
may, except with respect to the Redemption Price, amend the Plan
in any manner that does not adversely affect the interests of
holders of the Rights (other than the Acquiring Person).

On September 9, 2009, the Company approved an amendment to its
Restated Certificate of Incorporation by authorizing the filing of
a Certificate of Designation for the Series A Junior Participating
Preferred Stock with the Secretary of State of the State of
Delaware.

                         About Ford Motor

Headquartered in Dearborn, Michigan, Ford Motor Co. (NYSE: F) --
http://www.ford.com/-- manufactures or distributes automobiles in
200 markets across six continents.  With about 260,000 employees
and about 100 plants worldwide, the company's core and affiliated
automotive brands include Ford, Jaguar, Land Rover, Lincoln,
Mercury, Volvo, Aston Martin, and Mazda.  The Company provides
financial services through Ford Motor Credit Company.  The Company
has operations in Japan in the Asia Pacific region.  In Europe,
the Company maintains a presence in Sweden, and the United
Kingdom.  The Company also distributes its brands in various
Latin-American regions, including Argentina and Brazil.

Ford Motor carries a 'Ca' issuer credit and a 'Caa3' long term
corporate ratings, with negative outlook, from Moody's.

Fitch Ratings said via Business Wire on August 26 that it has
revised the Rating Outlook on Ford Motor Company and Ford Motor
Credit Company to Stable from Negative.  In addition, the Issuer
Default Rating of Ford is affirmed at 'CCC'.


FRONTIER AIRLINES: To Emerge as Republic Unit on October 1
----------------------------------------------------------
Frontier Airlines Holdings, Inc., and its affiliates stepped
Judge Robert D. Drain of the U.S. Bankruptcy Court for the
Southern District of New York, through the statutory
requirements under Sections 1129(a) and (b) of the Bankruptcy
Code necessary to confirm their Chapter 11 Joint Plan of
Reorganization:

A. Section 1129(a)(1) requires that the Second Amended Plan
  comply with all applicable provisions of the Bankruptcy Code,
  which includes compliance with Sections 1122 and 1123,
  governing classification and contents of the Plan.

  In addition to Administrative Claims and Priority Tax Claims
  that need not be classified, the Plan classifies six classes
  of Claims and Interests, with the Claims and Interests in
  each Class substantially similar to other Claims or Interests,
  in each Class.  The Plan satisfies Sections 1122 and
  1123(a)(1) of the Bankruptcy Code because (x) valid business,
  factual and legal reasons exist for separately classifying the
  Classes of Claims and Interests created under the Plan, (y)
  the Classifications were not done for any improper purpose,
  and (z) the Classes do not unfairly discriminate between or
  among holders of Claims or Interests.

  The Plan specifies that Class 1 Other Priority Claims, Class 2
  Secured Claims and Class 4b Interests in Frontier and Lynx are
  Unimpaired by the Plan, thereby satisfying Section 1123(a)(2).

  The Plan satisfies Section 1123(a)(3) because it designates
  Class 3 General Unsecured Claims, Class 4a Interests in
  Frontier Holdings and Class 4c Securities Litigation Claims as
  Impaired, and specifies the treatment of each of the Classes
  of Claims and Interests under the Plan.

  The Plan provides for the same treatment by the Debtors for
  each Claim or Interest in each Class, unless the holder of
  a Claim or Interest has agreed to a less favorable treatment,
  thereby satisfying Section 1123(a)(4).

  The Plan complies with Section 1123(a)(5) because the various
  documents and agreements set forth in the Plan and the Plan
  Supplements provide adequate and proper means for the Plan's
  implementation, including, without limitation, the Plan
  Consolidation.

  The certificate of incorporation of Reorganized Frontier
  Holdings and the certificates of incorporation of the
  Reorganized Subsidiary Debtors, filed as Plan Supplements on
  August 18, 2009, each prohibit the issuance of non-voting
  equity securities.  Thus, the requirements of Section
  1123(a)(6) are satisfied.

  The Plan contains provisions with respect to the manner of
  appointment of the directors and officers of the Reorganized
  Debtors that are consistent with the interests of creditors,
  equity security holders and public policy in accordance with
  Section 1123(a)(7).

  The Plan's provisions are appropriate and consistent with the
  applicable provisions of the Bankruptcy Code, thereby
  satisfying Section 1123(b)(6).

B. The Debtors, as the proponents of the Plan, have complied with
  the provisions of the Bankruptcy Code, thereby satisfying
  Section 1129(a)(2).  Specifically, the Debtors are "proper
  debtors" under Section 109(d), and they have complied with the
  Bankruptcy Rules and the Approval Order in transmitting the
  Disclosure Statement, the Plan and related documents and
  notices in soliciting and tabulating votes on the Plan.

  Based on the record before the Court in the Chapter 11 cases,
  the Debtors and the Official Committee of Unsecured Creditors
  have acted in "good faith" within the meaning of Section
  1125(e) in connection with all of their activities relating to
  the solicitation of acceptances to the Plan and their
  participation in the activities described in Section 1125.

  The parties listed in the Plan are entitled to the protections
  afforded by Section 1125(e) of the Bankruptcy Code and the
  exculpation provisions set forth in the Plan.

C. The Debtors have proposed the Plan in good faith and not by
  any means forbidden by law, thereby satisfying Section
  1129(a)(3).  The Plan was proposed with the legitimate and
  honest purpose of maximizing the value of the Debtors' estates
  and effectuating a successful reorganization of the Debtors.

D. Any payment made or to be made by any of the Debtors for
  services or for costs and expenses in or in connection with
  the Chapter 11 cases, or in connection with the Plan and
  incident to the Chapter 11 cases, has been approved by, or is
  subject to the approval of, the Court as reasonable, thereby
  satisfying Section 1129(a)(4).

E. The Debtors have complied with Section 1129(a)(5) of the
  Bankruptcy Code.  The identity and affiliations of the persons
  proposed to serve as members of the New Board and as members
  of the Boards of Directors of the Subsidiary Debtors were
  disclosed in Plan Supplements, and the appointment to, or
  continuance in, those positions is consistent with the
  interests of holders of Claims against, and Interests in, the
  Debtors and with public policy.

  The Debtors have further disclosed that the principal officers
  of each Debtor immediately prior to the Effective Date will be
  the officers of each Reorganized Debtor as of the Effective
  Date.

  The nature of the compensation payable to the members of the
  New Board, as well as the current compensation of the chief
  executive officer, chief financial officer and the three other
  most highly-compensated officers of Frontier Holdings was
  disclosed in the Plan Supplement.

F. The Plan does not contain any rate changes subject to the
  jurisdiction of any governmental regulatory commission and
  does not require approval by any governmental regulator.
  Therefore, the Plan satisfies Section 1129(a)(6).

G. The Plan satisfies Section 1129(a)(7).  The Liquidation
  Analysis to the Disclosure Statement (i) is persuasive and
  credible, (ii) has not been controverted by other evidence,
  (iii) is based on sound methodology, and (iv) establishes that
  each holder of an Impaired Claim or Interest either has
  accepted the Plan or will receive or retain under the Plan, on
  account of the Claim or Interest, property of a value, as of
  the Effective Date, that is not less than the amount that the
  holder would receive or retain if the Debtors were liquidated
  under Chapter 7 of the Bankruptcy Code.

H. Classes 1, 2 and 4b are each Classes of Unimpaired Claims or
  Interests that are conclusively presumed to have accepted the
  Plan under Section 1126(f).  The Voting Class has voted to
  accept the Plan in accordance with Section 1126(c).  No
  Classes voted against the Plan; however Classes 4a and 4c are
  not entitled to receive or retain any property under the Plan
  and, therefore, are deemed to have rejected the Plan pursuant
  to Section 1126(g).

  Although Section 1129(a)(8) has not been satisfied with
  respect to the Deemed Rejecting Classes, the Plan is
  confirmable because it does not discriminate unfairly and is
  fair and equitable with respect to the Deemed Rejecting
  Classes.

I. The treatment of Administrative Claims and Other Priority
  Claims pursuant to the Plan satisfies the requirements of
  Sections 1129(a)(9)(A) and (B) of the Bankruptcy Code, and the
  treatment of Priority Tax Claims satisfies the requirements of
  Section 1129(a)(9)(C).

J. The Voting Class is an Impaired Class and has voted to accept
  the Plan, without including any acceptance of the Plan by any
  insider.  Hence, without including any acceptance of the Plan
  by any Insider, there is at least one Class of Claims against
  the Debtors that is Impaired under the Plan and has accepted
  the Plan.  Thus, the Plan satisfies the requirements of
  Section 1129(a)(10).

K. The evidence submitted regarding feasibility of the Plan (x)
  is persuasive and credible, (y) has not been controverted by
  other evidence, and (z) establishes that confirmation of the
  Plan is not likely to be followed by the liquidation or the
  need for further financial reorganization of the Reorganized
  Debtors, in compliance with Section 1129(a)(11).

L. The Plan provides that all fees payable pursuant to Section
  1930(a) of Judiciary and Judicial Procedures Code have been
  paid or will be paid for each quarter until the Chapter
  11 cases are converted, dismissed or closed, whichever occurs
  first, thus satisfying the requirements of Section
  1129(a)(12).

M. Section 1129(a)(13) requires a plan to provide for retiree
  benefits at levels established pursuant to Section 1114 of the
  Bankruptcy Code.  On and after the Effective Date, pursuant to
  Section 1129(a)(13), the Reorganized Debtors will continue to
  pay any retiree health and welfare benefits of the Debtors
  covered by Section 1114 at any time prior to confirmation of
  the Plan, and for the duration of the period for which the
  Debtors have obligated themselves to provide those benefits.

  The Reorganized Debtors may unilaterally modify or terminate
  any retiree benefits, including health and welfare benefits,
  provided, however, that the Confirmation Order will not be
  construed to enlarge the Reorganized Debtors' rights to modify
  the Retiree Benefits.

N. Each of the Debtors is a corporation and is not required to
  pay domestic support obligations.  Accordingly, Section
  1129(a)(14) is not implicated by the Plan.

O. Each of the Debtors is a corporation and does not need to
  pay five years' worth of disposable income to unsecured
  creditors.  Accordingly, Section 1129(a)(15) is not implicated
  by the Plan.

P. The Plan does not provide for transfers of property by
  nonprofit entities, and each of the Debtors is a moneyed,
  business, or commercial corporation.  Accordingly, Section
  1129(a)(16) is not implicated by the Plan.

Finding that Frontier's Plan complies with the statutory
requirements, Judge Drain confirmed the Plan on September 10,
2009.

"This is an extremely proud day for everyone in our Company,"
Frontier President and CEO Sean Menke said in an official
statement.  "Many people doubted that we would even survive, let
alone accomplish a successful reorganization, provide a recovery
for our creditors and emerge a stronger competitor and company.
Upon consummation of our Plan of Reorganization with Republic, we
will be a successfully restructured airline, well positioned to
be a competitive, successful, sustainable airline for years to
come," he said.

"I must give a special thanks to all of our Frontier and Lynx
employees.  Their hard work, sacrifice and resiliency during the
bankruptcy [were] key to our successful reorganization.  They are
the primary reason why Frontier Airlines and Lynx Aviation are
where we are today," Mr. Menke continued.

The Company successfully resolved the few objections to its Plan
prior to Sept. 10, resulting in an uncontested confirmation
hearing.  All objections that have not been withdrawn, waived or
settled, and all reservations of rights pertaining to
confirmation of the Plan, are overruled on the merits, Judge
Drain ruled at the hearing.

According to the company statement, Frontier, along with its
legal advisors Davis Polk and Wardwell LLP and financial advisors
Seabury Group, LLC, has worked throughout its stay in bankruptcy
to achieve consensual resolutions with affected parties, which
has become a hallmark of Frontier's entire Chapter 11 case.

With the Court's confirmation of the Plan, Frontier will proceed
to emerge from bankruptcy on Oct. 1, 2009, as a wholly owned
subsidiary of Republic Airways Holdings, Inc., the Company
stated.

                   Consolidation Approved

The Court held that consolidation of the Debtors' estates for the
purposes set forth in the Plan is (x) in the best interest of all
holders of Claims and Interests, (y) necessary for the
implementation of the Plan and (z) appropriate in their Chapter
11 cases.  Accordingly, the Court approved the Plan
Consolidation.

Judge Drain clarified that the Plan Consolidation will not
affect:

  -- the legal or organizational structure of the Debtors;

  -- pre- or postpetition liens or security interests;

  -- pre- or postpetition guarantees that are required to be
     maintained in connection with executory contracts or
     unexpired leases that were entered into during the Chapter
     11 cases or that have been or will be assumed or pursuant
     to the Plan;

  -- defenses to any cause of action; or

  -- distribution out of any insurance policies or proceeds of
     those policies.

On the Effective Date of the Plan all notes, instruments,
certificates and other documents evidencing (a) the Old Notes and
(b) the Old Stock will be cancelled, and the obligations of the
Debtors in relation to the Notes and Stock will be fully
satisfied, released and discharged.  The Court authorized
Reorganized Frontier Holdings to issue 1,000 shares of New Common
Stock -- representing 100% of the issued and outstanding stock of
Reorganized Frontier Holdings -- for distribution to Republic
Airways Holdings Inc., as the Plan Sponsor.

Pursuant to the Investment Agreement and the Plan, Reorganized
Frontier Holdings is authorized to issue, sell and deliver to the
Plan Sponsor at the closing under the Investment Agreement the
New Common Stock free and clear of all Liens, for the Share
Purchase Price or $108,750,000 including the Class 3 Allocation.
The Share Purchase Price will be deemed to include the
relinquishment by the Plan Sponsor of all rights under the Plan
to any distribution on account of the Plan Sponsor Allowed
General Unsecured Claims.  The Republic Distribution will be
payable to the holders of Allowed General Unsecured Claims, other
than the Plan Sponsor on a pro rata basis.

In addition, the Court approved the procedures for determining
the amount of the Disputed Claims Reserve which the Debtors have
developed.

Judge Drain clarified that the Confirmation Order will not:

  * affect the enforceability of any security interests or liens
    granted pursuant to (i) the postpetition aircraft option
    agreements between the Debtors and Bombardier Inc., or (ii)
    the secured aircraft financing arrangement entered into by
    the Debtors; or

  * impair in any respect the legal, equitable or contractual
    rights and defenses of the insureds and insurers with
    respect to any insurance policies issued to the Debtors by
    ACE American Insurance Company and its affiliated insurers.

Upon the Effective Date of the Plan, the Creditors' Committee and
all other statutory committees in the Chapter 11 cases will
dissolve automatically.  The Post-Effective Date Committee will
be created, which will be subject to the jurisdiction of the
Court, as its rights and powers will be strictly limited as set
forth in the Plan.

Unless the Post-Effective Date Committee votes to disband
earlier, the existence of the Post-Effective Date Committee and
all its associated powers will terminate on the earlier of the
dates on which the Reorganized Debtors (y) reasonably estimate
that there are no remaining Disputed General Unsecured Claims
that will ultimately be Allowed in an amount exceeding $500,000,
and (z) will have paid or reimbursed the Post-Effective Date
Committee an aggregate amount equal to the Post-Effective Date
Committee Expense Cap.

A full-text copy of the court order confirming Frontier's Plan is
available for free at:

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

                Amended Plan Supplements Filed

The Debtors filed with the Court further amended supplements to
the Plan, consisting of the schedules of unexpired leases and
executory contracts that will be assumed or rejected under the
Plan.

Full copies of the Amended Plan Supplements are available for
free at:

* http://bankrupt.com/misc/FAH_AmendAssumedLeases&Contracts.pdf
* http://bankrupt.com/misc/FAH_AmendRejectedLeases&Contracts.pdf

                 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.

As reported by the TCR on August 14, Republic Airways Holdings,
Inc. has been declared the winning bidder in the auction to
acquire Frontier, beating Southwest Airlines.

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)


GARY ECKARD: Voluntary Chapter 11 Case Summary
----------------------------------------------
Joint Debtors: Gary K. Eckard
               Julie K. Eckard
               2209 Briar Lane
               Lindenhurst, IL 60046

Bankruptcy Case No.: 09-33561

Chapter 11 Petition Date: September 10, 2009

Court: United States Bankruptcy Court
       Northern District of Illinois (Chicago)

Debtors' Counsel: John H. Redfield, Esq.
                  John H. Redfield & Associates, P.C.
                  102 S. Wynstone Park Drive, Suite 201
                  North Barrington, IL 60010
                  Tel: (847) 382-1220
                  Fax: (847) 382-1225
                  Email: jredfield@redfieldassoc.com

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

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

According to the schedules, the Company has assets of at least
$5,313,000, and total debts of $4,512,287.

The Debtors did not file a list of their 20 largest unsecured
creditors when they filed their petition.

The petition was signed by the Joint Debtors.


GLOBAL CROSSING: Impsat Noteholders Agree to Relax Covenants
------------------------------------------------------------
GC Impsat Holdings I Plc said it had received, as of 5:00 p.m. New
York City time, on September 10, 2009, tenders and consents from
holders of approximately $215.8 million in aggregate principal
amount of its 9.875% Senior Notes due 2017 (CUSIP Nos. U0390YAA8
and 362241AA9), representing 95.9% of the total outstanding
principal amount of the Notes, in connection with the previously
announced cash tender offer and consent solicitation for the
Notes.  The consents received exceed the number needed to approve
the proposed amendment to the indenture under which the Notes were
issued.  Because the Consent Deadline has passed, Notes tendered
and consents given may not be validly withdrawn or revoked whether
tendered or given prior to or after the Consent Deadline.

As a result of the receipt of the requisite consents, GC Impsat
and the trustee under the indenture expect to enter into a
supplemental indenture effecting the proposed amendments,
substantially as described in the Offer to Purchase and Consent
Solicitation Statement dated August 24, 2009.  The proposed
amendments, which will eliminate most of the restrictive covenants
and certain events of default, will become operative when GC
Impsat accepts for purchase the Notes validly tendered and not
withdrawn pursuant to the terms of the Statement. If the tender
offer is terminated or withdrawn, or Notes that were validly
tendered and not withdrawn are not accepted for purchase for any
reason, the proposed amendments to the indenture will not become
operative and the covenants, events of default and other
provisions in the indenture will remain in their present form.

The tender offer remains open for the tender of Notes not
previously tendered and is scheduled to expire at 12:00 midnight,
New York City time, on September 21, 2009, unless extended.
Holders tendering Notes after the Consent Deadline are not
eligible for the consent payment.

Consummation of the tender offer, including the payment of the
total consideration or tender offer consideration, as applicable,
is subject to the conditions set forth in the Statement including,
among other things, the consummation by affiliates of GC Impsat of
debt financing on terms and conditions satisfactory to such
affiliates of GC Impsat, of which an amount sufficient to pay the
amounts payable pursuant to the tender offer and consent
solicitation will be contributed, advanced or loaned to GC Impsat
in accordance with the terms described in detail in the Statement.

GC Impsat has retained Goldman, Sachs & Co., Credit Suisse
Securities (USA) LLC and J.P. Morgan Securities Inc. to serve as
dealer managers for the tender offer and solicitation agents for
the consent solicitation. GC Impsat has retained Global Bondholder
Services Corporation to serve as the depositary and information
agent for the tender offer and consent solicitation.

Requests for documents, including the Statement, may be directed
to Global Bondholder Services Corporation by telephone at (866)
544-1500 or (212) 430-3774 or in writing at 65 Broadway - Suite
723, New York, NY, 10006. Questions regarding the tender offer or
consent solicitation may be directed to Goldman, Sachs & Co. at
(800) 828-3182 (toll free) or (212) 357-4692 (collect).

                          About GC Impsat

GC Impsat is a Latin American communications company that offers a
full range of IP and managed data and voice products and services
which support a migration path to a fully converged IP
environment.  GC Impsat is an indirect, wholly-owned subsidiary of
Global Crossing Limited (NASDAQ: GLBC), which is a global IP
solutions provider with the world's first integrated global IP-
based network.  Global Crossing offers a full range of secure
data, voice, and video products to approximately 40 percent of the
Fortune 500, as well as to 700 carriers, mobile operators and
ISPs.  It delivers services to nearly 700 cities in more than 60
countries and six continents around the globe.  GC Impsat and its
subsidiaries comprise part of Global Crossing's business, with a
principal focus on operations in Central and South America.


GLOBAL CROSSING: Prices Private Offering of $750MM of 12% Notes
---------------------------------------------------------------
Global Crossing Limited on Friday announced the pricing of a
private placement of $750 million in aggregate principal amount of
its 12% senior secured notes due 2015 at an issue price of
97.944%.  The transaction was increased by $100 million above the
amount previously announced.  The senior secured notes will be
sold to qualified institutional buyers in accordance with Rule
144A and Regulation S under the Securities Act of 1933, as
amended.  The offering is expected to settle on September 22,
2009, subject to customary closing conditions.

Global Crossing intends to use the proceeds of the offering to
refinance its existing term loan facility, to fund the purchase of
senior notes issued by GC Impsat Holdings I Plc and to provide
capital for general corporate purposes.

The senior secured notes have not been registered under the
Securities Act and may not be offered or sold in the United States
absent registration or an applicable exemption from registration
requirements.

As reported by the Troubled Company Reporter, Global Crossing had
intended to offer $650 million of its senior secured notes due
2015 in a private placement to qualified institutional buyers.

In connection with the offering, the Company intends to deliver a
confidential offering circular to certain qualified institutional
buyers in reliance on Rule 144A under the Securities Act and to
non-US persons in offshore transactions in reliance on Regulation
S under the Securities Act.  The offering circular includes
information that is not included in the Registrant's previously
filed SEC reports which may be of general interest to existing
investors in the Company's other debt and equity securities
currently outstanding.

Excerpts of the offering circular are available at no charge at
http://ResearchArchives.com/t/s?4490

As reported by the TCR on August 7, 2009, Global Crossing Ltd.
reported $2.32 billion in total assets and $2.61 billion in total
liabilities, resulting in $28.5 million in stockholders' deficit
at June 30, 2009.  Global Crossing's balance sheet at June 30 also
showed strained liquidity, with $749 million in total current
assets, including $268 million in cash and cash equivalents,
against $945 million in total current liabilities.

                      About Global Crossing

Global Crossing (NASDAQ: GLBC) is a global IP solutions provider
with the world's integrated global IP-based network.  The Company
offers a full range of secure data, voice, and video products to
roughly 40% of the Fortune 500, as well as to 700 carriers, mobile
operators and ISPs.  It delivers services to more than 690 cities
in more than 60 countries and six continents around the globe.


GOLD & HONEY: Israeli Receivership Not Taken as Foreign Proceeding
------------------------------------------------------------------
WestLaw reports that where the appointment of receivers in an
Israeli receivership proceeding clearly violated the automatic
stay and the bankruptcy court's orders regarding the stay,
recognition of the Israeli receivership proceeding as a "foreign
proceeding" would have been manifestly contrary to the public
policy of the United States, as warranted denial of recognition
pursuant to 11 U.S.C. Sec. 1506.  Allowing the offensive use of
the stay violation would have severely impinged the stay's value
and import, the New York bankruptcy court reasoned.  Moreover,
recognizing the foreign seizure of a debtor's assets postpetition
would have severely hindered United States bankruptcy courts'
abilities to carry out two of the stay's most fundamental policies
and purposes, namely, preventing one creditor from obtaining an
advantage over other creditors and providing for the efficient and
orderly distribution of a debtor's assets to all creditors in
accordance with their relative priorities.  Finally, condoning the
lender's conduct would have limited a federal court's jurisdiction
over all of a debtor's property "wherever located and by whomever
held."  In re Gold & Honey, Ltd., --- B.R. ----, 2009 WL 2596511
(Bankr. E.D.N.Y.).

Represented by Paul H. Deutch, Esq., at Troutman Sanders LLP in
Manhattan, Israeli Receiver Amir Bartov at Lipa Meir & Co. in Tel
Aviv filed a chapter 15 petition (Bankr. E.D.N.Y. Case No. 09-
70463) concerning Gold & Honey, Ltd., ib Jan. 28, 2009.


GOLDEN NUGGET: Landry's Strategic Move Won't Affect Moody's Rating
------------------------------------------------------------------
The Golden Nugget Inc.'s Ca Corporate Family Rating and Ca
Probability of Default Rating are not affected by Landry's
Restaurant, Inc. September 9, 2009 announcement, that on
August 14, 2009, Landry's Board of Directors appointed a Special
Committee to review strategic alternatives for the company,
including a possible sale of Landry's.

Moody's last rating action for Golden Nugget occurred on July 24,
2009 when Moody's downgraded the company's Corporate Family and
Probability of Default ratings to Ca and assigned a stable
outlook.

Golden Nugget, Inc., headquartered in Las Vegas, Nevada, owns and
operates the Golden Nugget hotel, casino, and entertainment
resorts in downtown Las Vegas and Laughlin Nevada.  Annual revenue
is approximately $265 million.  The Golden Nugget is a wholly-
owned unrestricted subsidiary of Landry's Restaurants, Inc.


GORAN OYDANICH: Case Summary & 19 Largest Unsecured Creditors
-------------------------------------------------------------
Joint Debtors: Goran Z. Oydanich
               Miryana Oydanich
               595 Main Street
               Apartment Number 806
               New York, NY 10044

Bankruptcy Case No.: 09-15454

Chapter 11 Petition Date: September 10, 2009

Court: United States Bankruptcy Court
       Southern District of New York (Manhattan)

Judge: Arthur J. Gonzalez

Debtors' Counsel: Sean C. Serpe, Esq.
                  Serpe & Associates, P.C.
                  450 Seventh Avenue, Suite 2601
                  New York, NY 10123
                  Tel: (212) 725-3600
                  Fax: (212) 660-7439
                  Email: sean@seanserpelaw.com

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

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

According to the schedules, the Company has assets of at least
$2,040,689, and total debts of $2,297,667.

A full-text copy of the Debtors' petition, including a list of
their 19 largest unsecured creditors, is available for free at:

           http://bankrupt.com/misc/nysb09-15454.pdf

The petition was signed by the Joint Debtors.


GREYSTONE ON PAYETTE: Disqualified Counsel Fee Application Denied
-----------------------------------------------------------------
WestLaw reports that counsel was disqualified from employment
under 11 U.S.C. Sec. 327(a), the section of the Bankruptcy Code
governing the employment of professional persons, and so an Idaho
bankruptcy court could neither retroactively approve his
employment nor approve his application for compensation.  It did
not matter that, in representing both the debtor in the case at
bar and another debtor entity, counsel allegedly had no knowledge
that, prior to bankruptcy, the debtor had loaned this other entity
a substantial sum of money, such that the entity had an interest
adverse to the estate and counsel also had a conflict of interest.
"Although this may appear to be a harsh result, strict enforcement
of the ethical rules to which estate professionals are subject
under the Code is required in order to protect the integrity of
the bankruptcy system," the court explained.  In re Greystone on
Payette, LLC, --- B.R. ----, 2009 WL 662627, 51 Bankr. Ct. Dec.
143 (Bankr. D. Idaho).

Based in Manhattan Beach, Calif., Greystone on Payette, LLC, and a
debtor-affiliate, Greystone Village, LLC, filed for Chapter 11
bankruptcy protection on June 5, 2008 (D. Idaho Case No. 08-01062)
to stave off foreclosure sales scheduled to occur the following
day.  When the Debtors filed for bankruptcy protection, they
estimated their assets at $10 million and $50 million and their
debts at $1 million and $10 million.  The Debtors were unable to
propose a confirmable plan, and on October 16, 2008, the Court
converted the cases to Chapter 7 liquidation proceedings.  Richard
Crawforth serves as the Chapter 7 trustee.

As reported in the Troubled Company Reporter on July 10, 2008, the
Debtors asked the Bankruptcy Court for permission to employ Howard
R. Foley, Esq., Patrick J. Geile, Esq., and Timothy S. Callender,
Esq., at Foley Freeman, PLLC, as its bankruptcy counsel, and
Messrs. Foley, Geile, and Callender attested to their
disinterestedness.

At a continued Sec. 341(a) meeting of creditors held on July 23,
2008, Mr. Foley says that he learned for the first time that,
prior to the petitions being filed, Greystone on Payette, LLC, had
extended a $1,000,000 loan to Greystone Village, LLC, to cover
construction costs at Greystone Village, and that this loan
remained unpaid.  In response to that disclosure, the United
States Trustee objected to the Debtors' application to employ
counsel.  The Chapter 7 trustee objected to Mr. Foley's Fee
Application, and the Honorable Jim D. Pappas denied compensation
to Mr. Foley.


GUARANTY FINANCIAL: Court Extends Schedules Filing Until Sept. 29
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas
extended until Sept. 29, 2009, Guaranty Financial Group Inc. and
its debtor-affiliates' time to file their schedules of assets and
liabilities, schedules of executory contracts and unexpired
leases, and statements of financial affairs.

Guaranty Financial Group Inc. -- http://www.guarantygroup.com/--
is based in Dallas, Texas.  Guaranty Financial is a unitary
savings and loan holding company. The Company's primary operating
entities are Guaranty Bank and Guaranty Insurance Services, Inc.
Guaranty Financial filed for bankruptcy after the Guaranty bank
was seized by regulators and sent to receivership under the
Federal Deposit Insurance Corporation.  Before the bank was taken
over, the balance sheet of the holding company had $15.4 billion
in assets as of Sept. 30, 2008.

Guaranty Financial together with affiliates filed for Chapter 11
on Aug. 27, 2009 (Bankr. N.D. Tex. Case No. 09-35582).  Attorneys
at Haynes & Boone, LLP, represent the Debtors.  According to the
schedules attached to its petition, the Company has assets of at
least $24,295,000, and total debts of $323,413,428, including
$305 million in trust preferred security.


GUARANTY FINANCIAL: Section 341(a) Meeting Slated for September 30
------------------------------------------------------------------
The U.S. Trustee for Region 6 will convene a meeting of creditors
in Guaranty Financial Group Inc.'s Chapter 11 case on Sept. 30,
2009, at 10:30 a.m.  The meeting will be held at the Office of the
U.S. Trustee, 1100 Commerce St., Room 976, Dallas, Texas.


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.

Guaranty Financial Group Inc. -- http://www.guarantygroup.com/--
is based in Dallas, Texas.  Guaranty Financial is a unitary
savings and loan holding company. The Company's primary operating
entities are Guaranty Bank and Guaranty Insurance Services, Inc.
Guaranty Financial filed for bankruptcy after the Guaranty bank
was seized by regulators and sent to receivership under the
Federal Deposit Insurance Corporation.  Before the bank was taken
over, the balance sheet of the holding company had $15.4 billion
in assets as of Sept. 30, 2008.

Guaranty Financial together with affiliates filed for Chapter 11
on Aug. 27, 2009 (Bankr. N.D. Tex. Case No. 09-35582).  Attorneys
at Haynes & Boone, LLP, represent the Debtors.  According to the
schedules attached to its petition, the Company has assets of at
least $24,295,000, and total debts of $323,413,428, including
$305 million in trust preferred security.


HARLAN LABORATORIES: Moody's Affirms 'B2' Corporate Family Rating
-----------------------------------------------------------------
Moody's Investors Service affirmed the ratings of Harlan
Laboratories, Inc. including the B2 Corporate Family Rating and
the B2 Probability of Default Rating.  The outlook remains stable.

Moody's has changed the outlooks of several rated Contract
Research Organizations over the past six months to negative due to
the weak near-term industry outlook.  While Moody's believes that
Harlan will be affected by these same trends, Harlan's outlook
remains stable at this time because of its lower exposure to
biotechnology and pharmaceutical customers (and greater percentage
of revenues from academic, chemical and government clients) than
other rated CRO peers.  As a result, Moody's believe Harlan may
experience less disruption from pharmaceutical consolidation and
be better positioned to benefit from increased academic research
funding due to government stimulus spending in 2010.  The stable
outlook is predicated on the belief that Harlan's opportunities in
these areas, as well as benefits from on-going restructuring and
turn-around efforts, will offset the weakness in pharmaceutical
and biotechnology spending on CRO services that Moody's expect
over the next twelve months.

The B2 Corporate Family Rating reflects Harlan's limited scale,
considerable financial leverage and limited free cash flow
generation.  The ratings are also constrained by Harlan's
relatively weak competitive position in its clinical services
business and Moody's expectation that over time Harlan will likely
make acquisitions in order to augment this business.  On the other
hand, the ratings are supported by Harlan's strong competitive
position in the research models business, and its very favorable
customer concentration profile.  Further, the stability of the
ratings incorporates the expectation for good liquidity over the
next twelve months.

Ratings Affirmed:

Harlan Laboratories:

* Corporate Family Rating, B2

* Probability of Default Rating, B2

* $15 Million First Lien U.S. Revolving Credit Facility, due 2013,
  rated B2, LGD-3, 45%

* $330 Million First Lien Term Loan, due 2014, rated B2, LGD-3,
  45%

Harlan Netherlands B.V.:

* $15 Million First Lien EURO Revolving Credit Facility, due 2013,
  rated B2, LGD-3, 45%

The outlook is stable.

Moody's last rating action was July 2, 2007, when Moody's assigned
B2 ratings to the company's new credit facility.

Harlan, headquartered in Indianapolis, Indiana, is a global CRO
that provides outsourced preclinical tools and services to the
pharmaceutical, biotechnology, chemical and food industries.
Harlan focuses on animal research models and early stage testing
of chemical and drug compounds, with particular strength in the
European market.  Moody's estimates that for the twelve months
ended June 30, 2009, Harlan generated net sales approximating
$404 million.


HAWKER BEECHCRAFT: Bank Debt Trades at 27% Off in Secondary Market
------------------------------------------------------------------
Participations in a syndicated loan under which Hawker Beechcraft,
Inc., is a borrower traded in the secondary market at 73.13 cents-
on-the-dollar during the week ended Sept. 11, 2009, according to
data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents an drop of 0.92 percentage points
from the previous week, The Journal relates.  The loan matures on
March 26, 2014.  The Company pays 200 basis points above LIBOR to
borrow under the facility.  The bank debt carries Moody's B3
rating and S&P's B- rating.  The debt is one of the biggest
gainers and losers among widely quoted syndicated loans in
secondary trading in the week ended Sept. 11, among the 154 loans
with five or more bids.

As reported in the Troubled Company Reporter on June 11, 2009,
Standard & Poor's Ratings Services said it has raised its long-
term corporate credit rating on Hawker Beechcraft, Inc., to 'CCC+'
from 'SD' (selective default).  The outlook is negative. About
$2.3 billion of debt is outstanding.  S&P also raised its issue-
level ratings on wholly owned subsidiary Hawker Beechcraft
Acquisition Co. LLC's senior unsecured and subordinated debt to
'CCC-' from 'D', two notches below the corporate credit rating on
Hawker Beechcraft.  The recovery rating on the senior unsecured
and subordinated debt remains at '6', indicating S&P's
expectations that lenders would achieve negligible (0 to 10%)
recovery in the event of a payment default.

At the same time, S&P lowered its issue-level rating on HBAC's
senior secured debt to 'B-' from 'B'.  The downgrade positions the
senior secured debt one notch above the corporate credit rating on
Hawker Beechcraft, the same differential as before the company
announced its tender offer to buy a portion of its unsecured notes
at values substantially below par.  The recovery rating on this
debt remains at '2', indicating S&P's expectations of substantial
(70% to 90%) recovery of principal in the event of a payment
default.

The corporate credit rating reflects S&P's view of the company's
post-tender-offer risk of payment default and potential for
further distressed redemptions.  Although Hawker Beechcraft will
benefit from lower long-term debt and interest expense, credit
protection measures will remain very weak.  Furthermore, the
company's liquidity cushion is now smaller following the full draw
of its $365 million revolving credit facility to fund operations
and the tender offer.

The TCR related on April 6, 2009, that Moody's Investors Service
lowered Hawker Beechcraft Acquisition Company's Corporate Family
Rating to Caa2 from B3 and the Probability of Default to Caa2/LD
from B3.  The actions follow disclosure that the company acquired
in open market transactions at significant discounts to par some
$222 million of its debt obligations.  Moody's considers the event
to be a distressed exchange.  At the same time, the company's
Speculative Grade Liquidity rating was changed to SGL-3,
representing adequate liquidity.  The outlook was revised to
stable from negative.

Hawker Beechcraft Acquisition Company, LLC, headquartered in
Wichita, Kansas, is a leading manufacturer of business jets,
turboprops and piston aircraft for corporations, governments and
individuals worldwide.


HUNTLEY NYCE COMPANY: Voluntary Chapter 11 Case Summary
-------------------------------------------------------
Debtor: Huntley Nyce Company
        14428 Albemarle Point Place, Suite 120
        Chantilly, VA 20151

Bankruptcy Case No.: 09-17413

Debtor-affiliates filing separate Chapter 11 petitions:

        Entity                                     Case No.
        ------                                     --------
Huntley Nyce Company                               09-17414
Huntley, Nyce & Associates, Ltd                    09-17416
HN&A Leasing                                       09-17417

Chapter 11 Petition Date: September 10, 2009

Court: United States Bankruptcy Court
       Eastern District of Virginia (Alexandria)

Debtor's Counsel: Justin Marcus Reiner, Esq.
                  Pels, Anderson LLC
                  4833 Rugby Ave. 4th Floor
                  Bethesda, MD 20814
                  Tel: (301) 986-5570
                  Email: jreiner@pallaw.com

                  Lawrence J. Anderson, Esq.
                  Pels, Anderson LLC
                  4833 Rugby Ave. 4th Floor
                  Bethesda, MD 20814
                  Tel: (301) 986-5570
                  Fax: (301) 986-5571

Estimated Debts: $100,001 to 500,000

According to the schedules, the Company has assets of at least $0,
and total debts of $492,856.

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

The petition was signed by Charles J. Huntley, chairman of the
Company.


HUNTSMAN ICI: Bank Debt Trades at 9.5% Off in Secondary Market
--------------------------------------------------------------
Participations in a syndicated loan under which Huntsman ICI is a
borrower traded in the secondary market at 90.50 cents-on-the-
dollar during the week ended Sept. 11, 2009, according to data
compiled by Loan Pricing Corp. and reported in The Wall Street
Journal.  This represents a drop of 2.32 percentage points from
the previous week, The Journal relates.  The loan matures on
April 23, 2014.  The Company pays 150 basis points above LIBOR to
borrow under the facility.  The bank debt carries Moody's Ba2
rating and Standard & Poor's B+ rating.  The debt is one of the
biggest gainers and losers among widely quoted syndicated loans in
secondary trading in the week ended Sept. 11, among the 154 loans
with five or more bids.

Huntsman Corp. -- http://www.huntsman.com/-- is a global
manufacturer and marketer of differentiated chemicals.  Its
operating companies manufacture products for a variety of global
industries, including chemicals, plastics, automotive, aviation,
textiles, footwear, paints and coatings, construction, technology,
agriculture, health care, detergent, personal care, furniture,
appliances and packaging.  Originally known for pioneering
innovations in packaging and, later, for rapid and integrated
growth in petrochemicals, Huntsman has more than 12,000 employees
and operates from multiple locations worldwide.  The Company had
2008 revenues exceeding $10 billion.

As reported by the Troubled Company Reporter on April 20, 2009,
Huntsman International LLC, a wholly owned subsidiary of Huntsman
Corporation, entered into a waiver to its $650 million revolving
credit facility dated August 16, 2005, with Deutsche Bank AG New
York Branch, as administrative agent, and the financial
institutions party thereto as lenders.  The waiver relaxes the
senior secured leverage ratio covenant from 3.75 to 1.00 to 5.00
to 1.00 for the period measured June 30, 2009, through June 30,
2010.  The waiver, among other things, also modifies the
definition of Consolidated EBITDA and permits Huntsman
International LLC to add back any lost profits attributable to
Hurricanes Gustav and Ike that occurred in 2008.  Additionally,
the amount of Permitted Non-Cash Impairment and Restructuring
Charges was increased from $100 million to $200 million.


IDEARC INC: Bank Debt Trades at 57% Off in Secondary Market
-----------------------------------------------------------
Participations in a syndicated loan under which Idearc, Inc., is a
borrower traded in the secondary market at 42.88 cents-on-the-
dollar during the week ended Friday, Sept. 11, 2009, according to
data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents a drop of 1.17 percentage points
from the previous week, The Journal relates.  The loan matures on
Nov. 17, 2014.  The Company pays 200 basis points above LIBOR to
borrow under the facility.  Moody's has withdrawn its rating while
Standard & Poor's has assigned a default rating on the bank debt.
The debt is one of the biggest gainers and losers among widely
quoted syndicated loans in secondary trading in the week ended
Sept. 11, among the 154 loans with five or more bids.

Headquartered in DFW Airport, Texas, Idearc, Inc. (NYSE: IAR) --
http://www.idearc.com/-- formerly known as Directories
Disposition Corporation, provides yellow and white page
directories and related advertising products in the United States
and the District of Columbia.  Products include print yellow
pages, print white pages, Superpages.com, Switchboard.com and
LocalSearch.com, the company's online local search resources, and
Superpages Mobile, their information directory for wireless
subscribers.   Idearc is the exclusive official publisher of
Verizon print directories in the markets in which Verizon is
currently the incumbent local exchange carrier.  Idearc uses the
Verizon brand on their print directories in their incumbent
markets, well as in their expansion markets.

Idearc and its affiliates filed for Chapter 11 protection on
March 31, 2009 (Bankr. N.D. Tex. Lead Case No. 09-31828).  Toby L.
Gerber, Esq., at Fulbright & Jaworski, LLP, represents the Debtors
in their restructuring efforts.  The Debtors have tapped Moelis &
Company as their investment banker; Kurtzman Carson Consultants
LLC as their claims agent.  William T. Neary, the United States
Trustee for Region 6, appointed six creditors to serve on an
official committee of unsecured creditors of Idearc, Inc., and its
debtor-affiliates.  The Committee selected Mark Milbank, Tweed,
Hadley & McCloy LLP, as counsel, and Haynes and Boone, LLP, co-
counsel.  The Debtors' financial condition as of Dec. 31, 2008,
showed total assets of $1,815,000,000 and total debts of
$9,515,000,000.


IDEARC INC: Creditors Oppose Plan; Dec. Confirmation Hearing Set
----------------------------------------------------------------
The official committee of unsecured creditors formed in Idearc
Inc.'s Chapter 11 case is opposing the reorganization plan of
Idearc and recommending that creditors vote "no."  The Committee,
according to Bill Rochelle at Bloomberg, says the plan undervalues
the Company, leaves it with too much debt, and doesn't recognize
the invalidity of some of the secured creditors' liens.

As reported by the TCR on September 11, 2009, the U.S. Bankruptcy
Court for the Northern District of Texas, Dallas Division, has
approved the disclosure statement filed in connection with
Idearc's proposed First Amended Joint Plan of Reorganization and
has authorized Idearc to begin the process for soliciting approval
from eligible creditors for the Plan.  With these developments,
Idearc is positioned to emerge from Chapter 11 protection before
year end.  A confirmation hearing for the Court to consider
approval of the Plan has been scheduled for December 9, 2009.

Idearc expects to emerge from its reorganization process with an
appropriate capital structure to support its future strategic
business plans and objectives.  Under the proposed Plan, the
Company's total debt will be reduced from approximately $9 billion
to approximately $2.75 billion of secured bank debt, with the
remainder of the Company's current bank debt and bonds converted
to new equity.  Upon emergence from Chapter 11, the Company will
have a cash balance of approximately $150 million.

Upon confirmation of the Plan, current holders of Idearc's common
stock will not receive any distributions following emergence and
their equity interests will be cancelled and have no value once
the Plan becomes effective.

                        About Idearc Inc.

Headquartered in DFW Airport, Texas, Idearc, Inc. (NYSE: IAR) --
http://www.idearc.com/-- formerly known as Directories
Disposition Corporation, provides yellow and white page
directories and related advertising products in the United States
and the District of Columbia.  Products include print yellow
pages, print white pages, Superpages.com, Switchboard.com and
LocalSearch.com, the company's online local search resources, and
Superpages Mobile, their information directory for wireless
subscribers.   Idearc is the exclusive official publisher of
Verizon print directories in the markets in which Verizon is
currently the incumbent local exchange carrier.  Idearc uses the
Verizon brand on their print directories in their incumbent
markets, well as in their expansion markets.

Idearc and its affiliates filed for Chapter 11 protection on
March 31, 2009 (Bankr. N.D. Tex. Lead Case No. 09-31828).  Toby L.
Gerber, Esq., at Fulbright & Jaworski, LLP, represents the Debtors
in their restructuring efforts.  The Debtors have tapped Moelis &
Company as their investment banker; Kurtzman Carson Consultants
LLC as their claims agent.  William T. Neary, the United States
Trustee for Region 6, appointed six creditors to serve on an
official committee of unsecured creditors of Idearc, Inc., and its
debtor-affiliates.  The Committee selected Mark Milbank, Tweed,
Hadley & McCloy LLP, as counsel, and Haynes and Boone, LLP, co-
counsel.  The Debtors' financial condition as of Dec. 31, 2008,
showed total assets of $1,815,000,000 and total debts of
$9,515,000,000.


IESI CORP: S&P Raises Long-Term Corporate Credit Rating to 'BB+'
----------------------------------------------------------------
Standard & Poor's Ratings Services said it raised its long-term
corporate credit rating on IESI Corp. to 'BB+' from 'BB'.  The
outlook is stable.

S&P also raised the issue-level rating on IESI's first-lien
secured bank facilities to 'BBB-' from 'BB+'.  The recovery rating
of '2' is unchanged, indicating the expectation of substantial
(70%-90%) recovery in the event of payment default.  In addition,
S&P raised the issue-level rating on IESI's US$45 million senior
unsecured industrial revenue bond series 2005 to 'BB-' from 'B+'.
The '6' recovery rating on the debt is unchanged, indicating the
expectation of negligible (0%-10%) recovery in the event of
default.

At the same time, S&P assigned its 'BB+' long-term corporate
credit rating, and stable outlook, to IESI-BFC Ltd. (formerly BFI
Canada Income Fund).

"The upgrade reflects what S&P view as IESI-BFC's effort to reduce
debt and improve financial flexibility, the recession-resilient
characteristics of the solid waste management services business,
and reduced landfill permit renewal risks," said Standard & Poor's
credit analyst Greg Pau.  "We base the upgrade on IESI on the
consolidated credit profile of its parent, IESI-BFC, which
exercises management control and decision-making on IESI's
business and financial strategy, and acts as guarantor to IESI's
secured credit facilities," Mr. Pau added.

The ratings on IESI-BFC are based on what S&P views as the
company's fair business risk profile and intermediate financial
risk profile.  They also reflect the company's efficient
operation, relatively low exposure to the cyclical construction
and demolition and commodities recycling segments, and
satisfactory business position in its key regional markets in the
U.S. and Canada.  S&P believe these strengths are partially offset
by the company's limited business diversity, low internalization
rate relative to that of its peers, and high reliance on
acquisitions for growth.

Through its primary operating subsidiaries, IESI and BFI Canada
Inc., IESI-BFC is a midsize participant in the highly fragmented
waste management business, ranking fourth largest in North America
by revenue.

The stable outlook on the two companies reflects Standard & Poor's
expectation that the recently improved consolidated financial risk
profile, which is consistent with the leverage policy, would be
maintained in the near future.  S&P could lower the ratings or
revise the outlook to negative if financial measures materially
deteriorate from S&P's current expectations, with adjusted debt to
EBITDA above 3x or adjusted funds from operations (FFO) to debt
below 25% on a sustained basis, or if it materially increases its
exposure to the weak C&D and industrial segments.  Conversely, S&P
could raise the rating or revise the outlook to positive if the
company's financial risk profile further improves with adjusted
debt to EBITDA falling below 2.2x or adjusted FFO to debt to above
35% on a sustained basis.  S&P consider this less likely in the
near future unless the company adopts a more conservative
financial policy.


INTERLAKE HANDLING: Summit Fights Back in Breach of Pact Lawsuit
----------------------------------------------------------------
Corinna Petry at AMM.com reports that Summit Steel & Manufacturing
Inc. has tried to block Interlake Material Handling Inc.'s
Interlake Mecalux Inc.'s attempt to secure emergency relief.

AMM.com relates that Interlake Mecalux sued Summit Steel in August
for allegedly stealing proprietary information obtained during an
unsuccessful bid for J&D J&D Company, LLC.  Interlake Mecalux
bought J&D's assets in July 2008.

According to AMM.com, Interlake Mecalux claimed that Summit Steel
violated federal laws, including breach of fiduciary duty, breach
of contract, and intentional interference with contractual or
prospective relations.  Interlake Mecalux also accused Summit
Steel of conspiracy, says the report.

Headquartered in Naperville, Illinois, Interlake Material
Handling, Inc. -- http://www.interlake.com/-- makes steel storage
racks in the United States.  The Company, United Fixtures Company,
Inc., UFC Interlake Holding Co., and Conco-Tellus, Inc., filed
for Chapter 11 relief on January 5, 2009, with the U.S. Bankruptcy
Court for the District of Delaware.  On May 30, 2009, J&D Company,
LLC, a wholly owned subsidiary of United Fixtures Company, Inc.,
filed for Chapter 11 protection with the same Court.  The original
Debtors' cases together with J&D's Chapter 11 case are being
jointly administered under Case No. 09-11751.

Winston & Strawn LLP represents the Debtors in their restructuring
efforts.  Young, Conaway, Stargatt & Taylor LLP is the Debtors'
local counsel.  Lake Pointe Partners, LLC, is the Debtors'
financial advisor.  Kurtzman Carson Consultants LLC is the claims
agent for the Debtors.  Lowenstein Sandler PC represents the
official committee of unsecured creditors as counsel.  Stevens &
Lee, P.C., represents the Committee as Delaware counsel.

When the original Debtors filed for protection from their
creditors, they listed between $50 million and $100 million in
assets, and between $100 million and $500 million in debts.  In
its petition, J&D listed between $1 million and $10 million each
in assets and debts.

The original Debtors sold their business for $30 million to
Mecalux SA, Spain's largest maker of warehouse equipment.  The
sale closed on March 9, 2009.


INTERLAKE MATERIAL: NachmanHaysBrownstein Named Plan Administrator
------------------------------------------------------------------
NachmanHaysBrownstein, Inc., has been appointed Plan Administrator
of the Interlake Material Handling, Inc. Post-Confirmation Trust,
continuing its relationship with the constituents of the Interlake
bankruptcy estate after having successfully served as Financial
Advisor to the Official Committee of Unsecured Creditors in In re
Interlake Material Handling, Inc. et al. (Bankr. D. Delaware).
Interlake, which was a manufacturer of industrial and retail
racking and handling systems, filed for Chapter 11 protection on
January 5, 2009.  During the engagement as Financial Advisor to
the Interlake Committee, NHB enhanced the marketing and sale of
the Company's going-concern assets, performed a wide-ranging
forensic investigation of the Debtor's pre-petition transactions
and advised the Committee and Committee counsel, Lowenstein
Sandler, PC, during complex plan and recovery negotiations.

The engagement continues to be led by NHB Principal Ted Gavin,
CTP, leader of the firm's Creditors Services Group, one of the
nation's most active creditor committee advisory practices.
NachmanHaysBrownstein, Inc., is the country's premier mid-market
turnaround and crisis management firms, having been included among
the "Outstanding Turnaround Firms" in Turnarounds & Workouts for
the past fourteen consecutive years.  NHB has its headquarters
near Philadelphia and has offices in New York, Boston, Los
Angeles, Dallas and Wilmington, Delaware.

Other recent NHB bankruptcy engagements include Financial Advisor
to the Official Committee of Unsecured Creditors in In re American
Community Newspapers, et al. (Delaware); Financial Advisor to the
Official Committee of Unsecured Creditors in In re Nexpak
Corporation, et al. (Delaware); Financial Advisor to the Official
Committee of Unsecured Creditors in In re We Recycle, Inc.
(Southern District of New York); Financial Advisor to the Official
Committee of Unsecured Creditors in In re PPI Holdings, Inc., et
al. (Delaware); Financial Advisor to the Official Committee of
Unsecured Creditors in In re Broadstripe, LLC (Delaware) and
Financial Advisor to the Debtor in In re DD-OH Family Partners
(d/b/a Oskar Huber Furniture) (New Jersey).

                  About NachmanHaysBrownstein

NachmanHaysBrownstein, Inc., is one of the country's leading
turnaround and crisis management firms, having been included among
the ten or so "Outstanding Turnaround Firms" in Turnarounds &
Workouts for the past fourteen consecutive years.  NHB
demonstrates leadership in corporate renewal by creating value and
preserving capital through turnaround and crisis management,
financial advisory, investment banking and fiduciary services to
financially challenged companies throughout America, as well as
through their investors, lenders and trade creditors.  NHB focuses
on producing lasting performance improvement, and maximizing the
business' value to stakeholders by providing the leadership and
credibility required to reconcile the client's objectives,
economic reality and available alternatives to establish an
achievable goal.

NHB professionals have assisted businesses in nearly every
industry, and provides services for out-of-court turnarounds and
workouts, crisis and interim management, sale of businesses,
refinancing, recapitalization, and restructuring, litigation
support and expert testimony, and -- where necessary -- bankruptcy
planning and reorganization advisory and management services.
NHB's clients have ranged from a few million dollars in sales to
nearly $2 billion, and have included both publicly held and
privately owned companies, however most clients are middle market
businesses with sales between $25 million and $500 million.
NHB professionals consist of seasoned executives who have in-depth
experience in diverse fields including finance, operations,
engineering and systems.  Every NHB engagement is led by one of
the Principals of NHB, and NHB's practice takes its professionals
throughout North America and abroad.  NHB's referral sources
consist of the top lenders, equity and venture firms, and law
firms in the country.  Headquartered in Philadelphia, NHB also
maintains offices in Dallas, Boston, Los Angeles, New York and
Wilmington, Delaware.

                     About Interlake Material

Headquartered in Naperville, Illinois, Interlake Material
Handling, Inc. -- http://www.interlake.com/-- makes steel storage
racks in the United States.  The Company, United Fixtures Company,
Inc., UFC Interlake Holding Co., and Conco-Tellus, Inc. filed
for Chapter 11 relief on January 5, 2009, with the U.S. Bankruptcy
Court for the District of Delaware.  On May 30, 2009, J&D Company,
LLC, a wholly owned subsidiary of United Fixtures Company, Inc.,
filed for Chapter 11 protection with the same Court.  The original
Debtors' cases together with J&D's Chapter 11 case are being
jointly administered under Case No. 09-11751.

Winston & Strawn LLP represents the Debtors in their restructuring
efforts.  Young, Conaway, Stargatt & Taylor LLP is the Debtors'
local counsel.  Lake Pointe Partners, LLC, is the Debtors'
financial advisor.  Kurtzman Carson Consultants LLC is the claims
agent for the Debtors.  Lowenstein Sandler PC represents the
official committee of unsecured creditors as counsel.  Stevens &
Lee, P.C., represents the Committee as Delaware counsel.

When the original Debtors filed for protection from their
creditors, they listed between $50 million and $100 million in
assets, and between $100 million and $500 million in debts.  In
its petition, J&D listed between $1 million and $10 million each
in assets and debts.

The original Debtors sold their business for $30 million to
Mecalux SA, Spain's largest maker of warehouse equipment.  The
sale closed on March 9, 2009.


IVIVI TECHNOLOGIES: Forbearance Ends Today; May File Bankruptcy
---------------------------------------------------------------
Ivivi Technologies, Inc. previously entered into a Forbearance
Agreement dated August 31, 2009 with Emigrant Capital Corp.
Pursuant to the terms of the original Forbearance Agreement, the
Lender agreed to forbear, through September 9, 2009, from
requiring the Company to repay the principal and interest due
under the Convertible Promissory Note in the principal amount of
$2.5 million.  The maturity date under the Note was August 30,
2009.  The Forbearance Agreement also provided for an increase in
the interest rate under the Note to the lesser of (i) 18% or (ii)
the maximum rate permitted by law during the forbearance period.
The Lender agreed to the forbearance in order to provide the
Company with the ability to continue (i) negotiating the
previously announced potential transaction with Ajax Capital, LLC,
an entity owned by Steven Gluckstern, the Company's Chairman,
President, Chief Executive Officer and Chief Financial Officer,
and (ii) solicit other proposals.

Effective September 9, 2009, the Company and the Lender amended
the terms of the Forbearance Agreement to extend the forbearance
period through September 14, 2009.  Other than the change in the
forbearance period, there were no other amendments or changes to
the Forbearance Agreement.

In a Sept. 11 filing with the Securities and Exchange Commission,
Ivivi said, "Although the Company expects to continue discussing
further extensions of the repayment of the loan with the Lender as
needed to complete a transaction, the Company may not be able to
successfully enter into such extensions as needed.  In the event
the Company does not successfully negotiate with the Lender, the
Company will not be able to meet its obligations under the Note
and the Lender will have the right to foreclose under the Note,
which is secured by all of the Company's assets.  In such an
event, the Company would have to cease its operations or seek
alternatives, including filing for bankruptcy protection.  In
addition, there can be no assurance that the Company will be able
to complete a transaction with Ajax or any other potential
acquirer or investor.

                     About Ivivi Technologies

Based in Montvale, New Jersey, Ivivi Technologies, Inc. is a
medical technology company focusing on designing, developing and
commercializing its proprietary electrotherapeutic technology
platform, with a primary focus on developing treatments for
cardiovascular disease.


JMG EXPLORATION: Considers Sale or Merger to Raise Add'l. Capital
-----------------------------------------------------------------
JMG Exploration Inc. posted a net loss of $214,781 for three
months ended June 30, 2009, compared with a net loss of $33,959
for the same period in 2008.

For six months ended June 30, 2009, the Company posted a net loss
of $423,996 compared with a net loss of $172,096 for the same
period in 2008.

The Company's balance sheet at June 30, 2009, showed total assets
of $1,624,307, total liabilities of $633,412 and a stockholders'
equity of $990,895.

The Company said that there is substantial doubt about its ability
to continue as a going concern.  The Company noted that as of
June 30, 2009, it has an accumulated deficit of $26,479,893 and
has insufficient working capital to fund development and
exploratory drilling opportunities.  The Company has operating and
liquidity concerns due to its significant net losses and negative
cash flows from operations.  The Company added that raising
additional capital is not considered a viable strategy and it is
exploring a possible sale or merger with another party.

A full-text copy of the Company's Form 10-Q is available for free
at http://ResearchArchives.com/t/s?44a0

In a separate filing, the Company also filed its quarterly report
for period ended March 31, 2009.  A full-text copy of the
Company's Form 10-Q is available for free at
http://ResearchArchives.com/t/s?449f

                    About JMG Exploration

JMG Exploration Inc. (NYSEArca: JMG) is an independent energy
company that explores for, develops and produces natural gas,
crude oil and natural gas liquids in Canada and the United States.
Currently, all of the company's proved reserves are located in the
United States.


JOHNSON RENTAL PROPERTIES: Voluntary Chapter 11 Case Summary
------------------------------------------------------------
Debtor: Johnson Rental Properties, LLC
        11 East First Street, Suite 3
        Selah, WA 98942

Bankruptcy Case No.: 09-05105

Chapter 11 Petition Date: September 10, 2009

Court: United States Bankruptcy Court
       Eastern District Of Washington (Spokane/Yakima)

Debtor's Counsel: Joshua J. Busey, Esq.
                  Carlson Boyd & Bailey, PLLC
                  230 S 2nd Street, Suite 202
                  Yakima, WA 98901
                  Tel: (509) 834-6611
                  Fax: (509) 834-6610
                  Email: jbusey@cbblawfirm.com

                  Timothy J. Carlson, Esq.
                  Carlson Boyd & Bailey, PLLC
                  230 S 2nd Street, Suite 202
                  Yakima, WA 98901
                  Tel: (509) 834-6611

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 R. Johnson, authorized agent of
the Company.


KRISTOPHER KEMP: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: Kristopher M. Kemp
        3251 West Corinne Drive
        South Jordan, UT 84095

Bankruptcy Case No.: 09-29734

Chapter 11 Petition Date: September 10, 2009

Court: United States Bankruptcy Court
       District of Utah (Salt Lake City)

Judge: R. Kimball Mosier

Debtor's Counsel: Franklin L. Slaugh, Esq.
                  880 East 9400 South, Suite 103
                  Sandy, UT 84094
                  Tel: (801) 572-4412

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 Mr. Kemp.


L & G GARVEY INVESTMENT: Case Summary & 4 Largest Unsec. Creditors
------------------------------------------------------------------
Debtor: L & G Garvey Investment LLC
        9906 Lower Azusa Road
        El Monte, CA 91731

Bankruptcy Case No.: 09-34380

Chapter 11 Petition Date: September 10, 2009

Debtor-affiliates filing separate Chapter 11 petition June 19,
2009:

        Entity                                     Case No.
        ------                                     --------
Prelude Investment, LLC                            09-25621

Debtor-affiliate filing separate Chapter 11 petition June 15,
2009:

        Entity                                     Case No.
        ------                                     --------
330 Naomi, LLC                                     09-24911

Court: United States Bankruptcy Court
       Central District of California (Los Angeles)

Judge: Victoria S. Kaufman

Debtor's Counsel: Robert G. Berke, Esq.
                  7236 Owensmouth Ave Suite D
                  Canoga Park, CA 91303

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

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

A full-text copy of the Debtors' petition, including a list of
their 4 largest unsecured creditors, is available for free at:

           http://bankrupt.com/misc/cacb09-34380.pdf

The petition was signed by Jing Gong, managing member of the
Company.


LANDAMERICA FIN'L: Southland Title's Schedules of Assets & Debts
----------------------------------------------------------------
A.     Real Property                                      None

B.     Personal Property
B.1    Cash on hand                                       None
B.2    Bank Accounts
       Bank of America Operating Account - 5837    $1,796,747
       Statutory Certificates of Deposit
        Comerica Bank - 0131                            7,500
        Comerica Bank - 0149                            7,500
        Comerica Bank - 0156                            7,500
        Comerica Bank - 3820                            7,500
        Comerica Bank - 3838                            7,500
        Comerica Bank - 3846                            7,500
B.3    Security Deposits
       RRF V Tri City Limited Partnership              11,000
       Arden Realty Finance Partnership, L.P.          10,894
       Rediger Investment Corporation                   6,346
       United Aero Supply                               5,500
       Temecula Corporate Plaza Center LLC              5,446
       Edward & Marty Rodriguez                         5,000
       Palm Springs Plaza Del Sol, LLC                  2,736
       Ocean Park Centinela LLC                         1,100
       LBA Realty Fund II - WBP II, LLC                   472
B.9    Interests in Insurance Policies                    None
B.12   Interests in IRA, ERISA or other Pension Plans     None
B.13   Business Interests and stocks                      None
B.14   Interests in partnerships                          None
B.16   Accounts Receivable, net of reserves            348,999
B.18   Other Liquidated Debts                             None
B.20   Contingent and noncontingent interest              None
B.21   Other Contingent & Unliquidated Claims             None
B.22   Patents                                            None
B.23   General Intangibles                                None
B.24   Customer lists                                     None
B.25   Vehicles                                           None
B.27   Aircraft and accessories                           None
B.28   Office equipment, furnishings and supplies
       Office Equipment                               203,193
       Data Processing Equipment                       96,280
       Leasehold Improvements                          32,996
B.29   Machinery                                        23,617
B.30   Inventory                                          None
B.35   Other Personal Property
       Other Receivable - US Bank                      63,720
       Prepaid Rent                                    57,219
       Prepaid Expenses                                41,446

       TOTAL SCHEDULED ASSETS                      $2,757,712
       ======================================================

C.   Property Claimed as Exempt                           None

D.   Secured Claim                                        None

E.   Unsecured Priority Claims                            None

F.   Unsecured Non-priority Claims
    See: http://ResearchArchives.com/t/s?42fc       $247,891

       TOTAL SCHEDULED LIABILITIES                   $247,891
       ======================================================

                    About LandAmerica Financial

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

LandAmerica Financial Group and its affiliate LandAmerica 1031
Exchange Services, Inc. filed for Chapter 11 protection Nov. 26,
2008 (Bankr. E.D. Va. Lead Case No. 08-35994).  Dion W. Hayes,
Esq., and John H. Maddock III, Esq., at McGuireWoods LLP, are the
Debtors' bankruptcy counsel.  In its bankruptcy petition, LFG
listed total assets of $3,325,100,000, and total debts of
$2,839,800,000 as of Sept. 30, 2008.

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

LandAmerica Credit Services, Inc., filed for Chapter 11 in July
2009.

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


LANDAMERICA FIN'L: Southland Title's Statement of Fin'l Affairs
---------------------------------------------------------------
G. William Evans, president and chief financial officer of
Southland Title Corporation, reported that the company has gained
$56,753,296 from its business operations during the two years
before the Petition Date:

    Period                              Amount
    ------                              ------
    January 2009 to May 11, 2009     ($1,995,869)
    Fiscal Year 2008                 (23,369,014)
    Fiscal Year 2007                 (31,388,413)

STC paid or transferred to creditors certain amounts within 90
days immediately before the Petition Date, a list of which is
available for free at http://bankrupt.com/misc/STC_SOFAs_3b.pdf

STC also made payments to "insiders" as the term is defined under
Section 101(31) of the Bankruptcy Code within one year
immediately preceding the Petition Date for the benefit of
creditors who are insiders.  A list of the insider transfers is
available for free at http://bankrupt.com/misc/STC_SOFAs_3c.pdf

STC is a party to several lawsuits and administrative proceedings
within one year immediately preceding the Petition Date.  They
include:

Suit Caption                     Nature               Status
------------                  ------------------      ------
HST Investments v. Victor     Breach of Contract/     Stayed
Levada, Southland Title       Warranty
Corporation
Case No. 06CC02247

Huntington Beach              Breach of Contract/     Settled
Convalescent Asset v.         Warranty
Pacific Point, Southland
Title Corp., et al.
Case No. 06CC06023

Karen Gould v. Amber Lane,    Negligence/ Breach      Dismissed
LP, et al. Dismissed          of Fiduciary Duty
Case No. 34-2008-00001973-
CU-CO-GDS

Kuchta, etc. v. Ortega,       Fraud                   Stayed
et al.  Case No. CIVSS
709581

Angelus Watson v. Aurora      Contract                Dismissed
Loan Services, Inc.
Southland Title Corp.,
et al. Case No. BC 401 980

Tanya Batache v. Lindsey      Negligence              Stayed
Brooks et. al.
Case No. SC097725

Transnation Title Insurance   Unjust Enrichment       Stayed
Company v. John Disney et     Cross Complaint
al. Case No. GC037576         filed against
                              Southland by Disney

Team Nation Holdings, Inc.,   Negligence/ Breach      Stayed
et al. v. Professional        of Fiduciary Duty
Business Bank, LandAmerica
Financial Group, Inc.,
LandAmerica Southland
Title, et al.
Case No. 30-2008 00111650

Credit Managers Association   Avoidance Action        Stayed
of CA dba CMA Business
Credit Services v.
Southland Title
Case No. 04CC11550

Farah Modarres v. John        Contract                Stayed
David Thomas, Southland
Title Corporation et al.
Case No. 07CC03908

Susana Zavala Suzan v.        Quiet Title/            Stayed
Corporate Funding Financial   Judicial Foreclosure
Of America, Inc. Case No.
37-2008-00074258-CU-OR-SC

Gasper Vaccaro v. Kenneth     Prescriptive Easement   Stayed
A Bell, et al. Case No.
37-2008-00052635-CU-OR-NC

Denise A. Whinnery v.         Employment              Stayed
LandAmerica Financial Group,
Inc., Southland Title
Corporation et al. Case No.
37-200700082119-CU-OE-CTL

Rivero-Andreu, et al. v.      Cancellation of         Dismissed
La Jolla Point, LLC, et al.   Instrument/Judicial
Case No.                      Foreclosure
37-2007-00075474-CU-OR-CTL

Southland Title Company v.    Interpleader            Dismissed
DECA Owners Assn. Case No.
37-2009-00083867-CL-CO-CTL

Jason A. Scally v.            Unfair Business         Stayed
Southland Title               Practices/Fraud
Corporation, Inc.,
LandAmerica Financial Group,
Inc. Case No.
37-2008-00089498-CU-BT-CTL

CFF Creditors Committee       RICO                    Stayed
Trust v. Corporate Funding
Financial of America Inc.
et al. Case No.
37-2008-00095021-CU-RI-CTL

Peter Fernandes & Faith       RESPA Violations        Dismissed/
Fernandes v. Southland                                Settled
Title Corporation et al.
Case No. CV07-06690-DSF-SH

Mr. Evans says that STC gave approximately $8,100 as gifts and
charitable contributions to these organizations within one year
immediately preceding the Petition Date:

Organization                       Date           Value
------------                       ----          -------
Mission Inn                        April 2008       $100
Southland Children's Foundation    April 2008     $2,000
Southland Children's Foundation    May 2008       $6,000

Within six years immediately before the Petition Date, STC has
been a member of a consolidated group for tax purposes under
parent company, LandAmerica Financial Group, Inc., with Tax
Identification No. 54-1589611.

County Title Holding Corp. owns 100% of STC's common stocks.

                    About LandAmerica Financial

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

LandAmerica Financial Group and its affiliate LandAmerica 1031
Exchange Services, Inc. filed for Chapter 11 protection Nov. 26,
2008 (Bankr. E.D. Va. Lead Case No. 08-35994).  Dion W. Hayes,
Esq., and John H. Maddock III, Esq., at McGuireWoods LLP, are the
Debtors' bankruptcy counsel.  In its bankruptcy petition, LFG
listed total assets of $3,325,100,000, and total debts of
$2,839,800,000 as of Sept. 30, 2008.

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

LandAmerica Credit Services, Inc., filed for Chapter 11 in July
2009.

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


LANDAMERICA FIN'L: Southland SD's Schedules of Assets & Debts
-------------------------------------------------------------
A.     Real Property                                     None

B.     Personal Property
B.1    Cash on hand                                      None
B.2    Bank Accounts
       Bank of America Business Checking - 5856    $1,934,570
       Comerica Bank Certificate of Deposit - 0123      7,500
B.3    Security Deposits
       H.G. Fenton Company                            27,909
       Tycoon Development Corporation                  6,300
       Terra West Investment Company                   3,780
B.9    Interests in Insurance Policies                   None
B.12   Interests in IRA, ERISA or other Pension Plans    None
B.13   Business Interests and stocks                     None
B.14   Interests in partnerships                         None
B.16   Accounts Receivable, net of reserves            53,906
B.18   Other Liquidated Debts                            None
B.20   Contingent and noncontingent interest             None
B.21   Other Contingent & Unliquidated Claims            None
B.22   Patents                                           None
B.23   General Intangibles                               None
B.24   Customer lists                                    None
B.25   Vehicles                                          None
B.27   Aircraft and accessories                          None
B.28   Office equipment, furnishings and supplies
       Office Equipment                              115,166
       Data Processing Equipment                      21,920
       Leasehold Improvements                          7,074
B.29   Machinery                                          685
B.30   Inventory                                         None
B.35   Other Personal Property
       Prepaid Expenses                                5,324
       Prepaid Equipment Leases                          227

       TOTAL SCHEDULED ASSETS                     $2,184,361
       =====================================================

C.   Property Claimed as Exempt                          None

D.   Secured Claim                                       None

E.   Unsecured Priority Claims                           None

F.   Unsecured Non-priority Claims
    See: http://ResearchArchives.com/t/s?4300       $83,339

       TOTAL SCHEDULED LIABILITIES                   $83,339
       =====================================================

                    About LandAmerica Financial

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

LandAmerica Financial Group and its affiliate LandAmerica 1031
Exchange Services, Inc. filed for Chapter 11 protection Nov. 26,
2008 (Bankr. E.D. Va. Lead Case No. 08-35994).  Dion W. Hayes,
Esq., and John H. Maddock III, Esq., at McGuireWoods LLP, are the
Debtors' bankruptcy counsel.  In its bankruptcy petition, LFG
listed total assets of $3,325,100,000, and total debts of
$2,839,800,000 as of Sept. 30, 2008.

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

LandAmerica Credit Services, Inc., filed for Chapter 11 in July
2009.

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


LANDAMERICA FIN'L: Southland SD's Statement of Fin'l Affairs
------------------------------------------------------------
G. William Evans, president and chief financial officer of
Southland Title of San Diego, reported that the company has
gained $37,610,855 from its business operations during the two
years before the Petition Date:

    Period                               Amount
    ------                            ------------
    January 2009 to May 11, 2009      ($1,343,657)
    Fiscal Year 2008                  (13,684,603)
    Fiscal Year 2007                  (22,582,595)

STSD paid or transferred to creditors certain amounts within 90
days immediately before the Petition Date, a list of which is
available for free at http://bankrupt.com/misc/STSD_SOFAs_3b.pdf

STSD also made payments to "insiders" as the term is defined in
Section 101(31) of the Bankruptcy Code within one year
immediately preceding the Petition Date for the benefit of
creditors who are insiders.  A list of the insider transfers is
available for free at http://bankrupt.com/misc/STSD_SOFAs_3c.pdf

STSD is a party to these lawsuits and administrative proceedings
within one year immediately preceding the Petition Date:

Suit Caption                     Nature               Status
------------                ---------------------    ---------
Karen Gould v. Amber        Negligence/ Breach of    Dismissed
Lane, LP, et al.            Fiduciary Duties
Case No. 34-2008-
00001973-CU-CO-GDS

FDIC as Conservator for     Breach of Contract/      Stayed
Indymac Federal Bank,       Negligence
F.S.B. v. SLT Mortgage
Realty, Southland Title
of San Diego, et al.
Case No. VC 050937

Covina Irrigating, Inc.     Eminent Domain/          Stayed
v. Gregoria Marcos,         Condemnation
Southland of San Diego,
Inc., et al.
Case No. BC 405 041

Mr. Evans says that STSD gave an aggregate of $20,602 as gifts
and charitable contributions to individuals and organizations
within one year immediately preceding the Petition Date:

Organization                      Date             Value
------------                      ----             -----
Boys & Girls Clubs Of San Diego    May 2008        $2,500
Chip Brinks                        December 2008     $102
Southland Children's Foundation    April 2008      $6,000
Southland Children's Foundation    May 2008        $6,000
Southland Children's Foundation    April 2008      $6,000

STSD has been a member of a consolidated group for tax purposes,
within six years immediately the Petition Date, under parent
company, LandAmerica Financial Group, Inc., with Tax
Identification No. 54-1589611.

County Title Holding Corp. owns 100% of STSD's common stocks.

                    About LandAmerica Financial

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

LandAmerica Financial Group and its affiliate LandAmerica 1031
Exchange Services, Inc. filed for Chapter 11 protection Nov. 26,
2008 (Bankr. E.D. Va. Lead Case No. 08-35994).  Dion W. Hayes,
Esq., and John H. Maddock III, Esq., at McGuireWoods LLP, are the
Debtors' bankruptcy counsel.  In its bankruptcy petition, LFG
listed total assets of $3,325,100,000, and total debts of
$2,839,800,000 as of Sept. 30, 2008.

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

LandAmerica Credit Services, Inc., filed for Chapter 11 in July
2009.

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


LANDAMERICA FIN'L: Southland Orange's Schedules of Assets & Debts
-----------------------------------------------------------------
A.     Real Property                                      None

B.     Personal Property
B.1    Cash on hand                                       None
B.2    Bank Accounts
       Bank of America Business Checking - 5851      $662,584
       Comerica Bank Certificate of Deposit - 0735      7,500
B.3    Security Deposits
       Airport Industrial Complex                       3,190
B.9    Interests in Insurance Policies                    None
B.12   Interests in IRA, ERISA or other Pension Plans     None
B.13   Business Interests and stocks                      None
B.14   Interests in partnerships                          None
B.16   Accounts Receivable, net of reserves             12,192
B.18   Other Liquidated Debts                             None
B.20   Contingent and noncontingent interest              None
B.21   Other Contingent & Unliquidated Claims             None
B.22   Patents                                            None
B.23   General Intangibles                                None
B.24   Customer lists                                     None
B.25   Vehicles                                           None
B.27   Aircraft and accessories                           None
B.28   Office equipment, furnishings and supplies
       Office Equipment                                21,265
       Software                                         9,893
       Data Processing Equipment                        1,734
B.29   Machinery                                          None
B.30   Inventory                                          None
B.35   Other Personal Property
       Prepaid Rent                                     6,246
       Prepaid Expenses                                 6,175

       TOTAL SCHEDULED ASSETS                        $730,779
       ======================================================

C.   Property Claimed as Exempt                           None

D.   Secured Claim                                        None

E.   Unsecured Priority Claims                            None

F.   Unsecured Non-priority Claims
    See: http://ResearchArchives.com/t/s?4301       $111,398

       TOTAL SCHEDULED LIABILITIES                   $111,398
       ======================================================

                    About LandAmerica Financial

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

LandAmerica Financial Group and its affiliate LandAmerica 1031
Exchange Services, Inc. filed for Chapter 11 protection Nov. 26,
2008 (Bankr. E.D. Va. Lead Case No. 08-35994).  Dion W. Hayes,
Esq., and John H. Maddock III, Esq., at McGuireWoods LLP, are the
Debtors' bankruptcy counsel.  In its bankruptcy petition, LFG
listed total assets of $3,325,100,000, and total debts of
$2,839,800,000 as of Sept. 30, 2008.

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

LandAmerica Credit Services, Inc., filed for Chapter 11 in July
2009.

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


LANDAMERICA FIN'L: Southland Orange's Statement of Fin'l Affairs
----------------------------------------------------------------
G. William Evans, president and chief financial officer of
Southland Title of Orange County, reported that the company
gained $37,610,855 from its business operations during the two
years before the Petition Date:

    Period                                  Amount
    ------                              ------------
    January 2009 to May 11, 2009          ($240,194)
    Fiscal Year 2008                     (8,385,808)
    Fiscal Year 2007                    (10,067,335)

STOC paid or transferred certain amounts to creditors within 90
days immediately before the Petition Date, a list of which is
available for free at http://bankrupt.com/misc/STOC_SOFAs_3b.pdf

STOC also made payments to "insiders" as defined in Section
101(31) of the Bankruptcy Code within one year immediately
preceding the Petition Date for the benefit of creditors who are
insiders.  A list of the transfers is available for free at:

           http://bankrupt.com/misc/STOC_SOFAs_3c.pdf

Within one year immediately before the Petition Date, STSD is a
party to the lawsuit captioned Interbusiness Bank v. U.M.I. Tech,
et. al., Case No. 05CC09251.  The lawsuit is related to a
judicial foreclosure and has been settled.

STOC gave a gift card, totaling $100, to Robert Payne within one
year immediately preceding the Petition Date.

STOC has also been a member of a consolidated group for tax
purposes, within six years immediately the Petition Date, under
parent company, LandAmerica Financial Group, Inc., with Tax
Identification No. 54-1589611.

County Title Holding Corp. owns 100% of STOC's common stocks.


                    About LandAmerica Financial

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

LandAmerica Financial Group and its affiliate LandAmerica 1031
Exchange Services, Inc. filed for Chapter 11 protection Nov. 26,
2008 (Bankr. E.D. Va. Lead Case No. 08-35994).  Dion W. Hayes,
Esq., and John H. Maddock III, Esq., at McGuireWoods LLP, are the
Debtors' bankruptcy counsel.  In its bankruptcy petition, LFG
listed total assets of $3,325,100,000, and total debts of
$2,839,800,000 as of Sept. 30, 2008.

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

LandAmerica Credit Services, Inc., filed for Chapter 11 in July
2009.

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


LANDRY'S RESTAURANT: Moody's Reviews 'B2' Corporate Family Rating
-----------------------------------------------------------------
Moody's Investors Service placed the ratings of Landry's
Restaurant, Inc., on review for possible downgrade following the
company's September 9, 2009 announcement, that on August 14, 2009,
Landry's Board of Directors appointed a Special Committee to
review strategic alternatives for the company, including a
possible sale of the company.  Landry's SGL-3 Speculative Grade
Liquidity rating remains unchanged.

Ratings placed on review for possible downgrade:

* Corporate Family Rating at B2

* Probability of Default Rating at B2

* $50 million senior secured revolving credit facility, due 2011
  rated Ba2

* $165 million senior secured term loan, due 2011 rated Ba2

* $295 million senior secured notes, due 2011 rated B3

"In Moody's view, this announcement -- along with management's
history of aggressive financial policies -- suggests that there's
a high probability that Landry's could enter into a transaction
that could weaken the existing credit profile of the company,"
stated Bill Fahy, Moody's Senior Analyst.

Moody's review will focus on the impact that a potential
transaction -- if ultimately consumed--could have on debt
protection metrics, liquidity, and the overall risk profile of
Landry's.  In addition, the review will consider the company's
operating trends and credit metrics which remain exposed to
further deterioration in consumer spending and increased
competition.

Landry's SGL-3 Speculative Grade Liquidity rating indicates
adequate liquidity.  Despite increased competitive pressures and
weakening economic conditions, Moody's expect that lower commodity
costs and the company's expense management efforts will make it
possible for it to generate positive free cash flow from
operations over the next 12-month period.  Landry's SGL-3 also
anticipates that the company will remain in compliance with its
financial covenants despite the expectation that operating
performance will continue to be pressured by weak consumer demand.

Moody's last rating action for Landry's occurred on July 24, 2009
when Moody's affirmed the company's B2 Corporate Family and
Probability of Default ratings and changed the outlook to negative
from stable.

Landry's Restaurants, Inc., owns and operates mostly casual dining
restaurants under the trade names Landry's Seafood House, Chart
House, The Crab House, Saltgrass Steak House, and Rainforest Cafe.
Landry's also owns and operates the Golden Nugget hotel and casino
in Las Vegas, Nevada.  Annual revenue is approximately
$900 million.


LAS VEGAS SANDS: Bank Debt Trades at 22% Off in Secondary Market
----------------------------------------------------------------
Participations in a syndicated loan under which Las Vegas Sands
Corp. is a borrower traded in the secondary market at 78.19 cents-
on-the-dollar during the week ended Sept. 11, 2009, according to
data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents an increase of 0.69 percentage
points from the previous week, The Journal relates.  The loan
matures on May 1, 2014.  The Company pays 175 basis points above
LIBOR to borrow under the facility.  The bank debt carries Moody's
B3 rating and Standard & Poor's B- rating.  The debt is one of the
biggest gainers and losers among widely quoted syndicated loans in
secondary trading in the week ended Sept. 11, among the 154 loans
with five or more bids.

Meanwhile, participations in a syndicated loan under which
Venetian Macau US Finance Co. LLC is a borrower traded in the
secondary market at 92.96 cents-on-the-dollar during the week
ended Sept. 11, 2009, according to data compiled by Loan Pricing
Corp. and reported in The Wall Street Journal.  This represents an
increase of 1.11 percentage points from the previous week, The
Journal relates.  The loan matures on May 25, 2013.  The Company
pays 225 basis points above LIBOR to borrow under the facility.
The bank debt carries Moody's B3 rating and Standard & Poor's B-
rating.  The debt is also one of the biggest gainers and losers
among widely quoted syndicated loans in secondary trading in the
week ended Sept. 11, among the 154 loans with five or more bids.

Venetian Macau is a wholly owned subsidiary of Las Vegas Sands.
VML owns the Sands Macau in the People's Republic of China Special
Administrative Region of Macau and is also developing additional
casino hotel resort properties in Macau.

Based in Las Vegas, Nevada, Las Vegas Sands Corp. (NYSE: LVS) --
http://www.lasvegassands.com/-- owns and operates The Venetian
Resort Hotel Casino, The Palazzo Resort Hotel Casino, and an expo
and convention center.  The company also owns and operates the
Sands Macao, the first Las Vegas-style casino in Macao, China.

As reported by the TCR on Aug. 4, 2009, Moody's Investors Service
has placed Las Vegas Sands, Corp.'s ratings, including its B3
Corporate Family Rating, on review for possible downgrade.  The
review for possible downgrade reflects LVSC's weak fiscal 2009
second quarter operating results and Moody's heightened concern
regarding the company's ability to maintain an adequate liquidity
profile, reduce leverage, and remain in compliance with its
financial covenants.


LCGI FAIRFIELD LLC: Case Summary & 6 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: LCGI Fairfield, LLC
         a California limited liability  company
        270 Lafayette Cir
        Lafayette, CA 94549-4379

Bankruptcy Case No.: 09-48466

Chapter 11 Petition Date: September 10, 2009

Court: United States Bankruptcy Court
       Northern District of California (Oakland)

Judge: Leslie J. Tchaikovsky

Debtor's Counsel: John H. MacConaghy, Esq.
                  MacConaghy and Barnier
                  645 1st St. W #D
                  Sonoma, CA 95476
                  Tel: (707) 935-3205
                  Email: macclaw@macbarlaw.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 6 largest unsecured creditors is available
for free at:

            http://bankrupt.com/misc/canb09-48466.pdf

The petition was signed by Lloyd Torchio, authorized agent of the
Company.


LE-NATURE'S INC: Marc Kirschner Sues K&L Gates for Malpractice
--------------------------------------------------------------
Richard Gazarik at the Tribune-Review reports that Marc Kirschner,
a bankruptcy trustee overseeing the liquidation of Le-Nature's
Inc., has sued K&L Gates, senior partner Sanford Ferguson and the
accounting firm of Pascarella & Wiker of Wexford for malpractice,
negligence, breach fiduciary duty, and negligent misrepresentation
in connection with a 2003 internal investigation of the Company's
executives and its finances.

According to the Tribune-Review, Mr. Kirschner claimed that the
defendants failed to detect a fraud by former Le-Nature's CEO
Gregory Podlucky and other company officers despite warnings by
the Company's former chief financial officer, John Higbee, leading
to the Company's Le-Nature's bankruptcy in 2006 and a federal
criminal investigation into allegations of money laundering and
bank, wire, and mail fraud.  Mr. Kirschner said in court documents
that K&L Gates issued a report concluding that they found "no
evidence of fraud or malfeasance, despite a number of red flags."

                     About Le-Nature's Inc.

Headquartered in Latrobe, Pennsylvania, Le-Nature's Inc. --
http://www.le-natures.com/-- makes bottled waters, teas, juices
and nutritional drinks.  Its brands include Kettle Brewed Ice
Teas, Dazzler fruit juice drinks and lemonade, and AquaAde
vitamin-enriched water.

Four unsecured creditors of Le-Nature's filed an involuntary
chapter 7 petition against the company on Nov. 1, 2006 (Bankr.
W.D. Pa. Case No. 06-25454).  On Nov. 6, 2006, two of Le-Nature's
subsidiaries, Le-Nature's Holdings Inc., and Tea Systems
International Inc., filed voluntary petitions for relief under
chapter 11 of the Bankruptcy Code.  Judge McCullough converted Le
Nature's Inc.'s case to a chapter 11 proceeding.  The Debtors'
cases are jointly administered.  The Debtors' schedules filed with
the Court showed $40 million in total assets and $450 million in
total liabilities.

Douglas Anthony Campbell, Esq., Ronald B. Roteman, Esq., and
Stanley Edward Levine, Esq., at Campbell & Levine, LLC, represents
the Debtors in their restructuring efforts.  The Court appointed
R. Todd Neilson as Chapter 11 Trustee.  Dean Z. Ziehl, Esq.,
Richard M. Pachulski, Esq., Stan Goldich, Esq., Ilan D. Scharf,
Esq., and Debra Grassgreen, Esq., at Pachulski, Stang, Ziehl,
Young, Jones & Weintraub LLP, represent the Chapter 11 Trustee.
David K. Rudov, Esq., at Rudov & Stein, and S. Jason Teele, Esq.,
and Thomas A. Pitta, Esq. at Lowenstein Sandler PC, represent the
Official Committee of Unsecured Creditors.  Edward S. Weisfelner,
Esq., Robert J. Stark, Esq., and Andrew Dash, Esq., at Brown
Rudnick Berlack Israels LLP, and James G. McLean, Esq., at Manion
McDonough & Lucas represent the Ad Hoc Committee of Secured
Lenders.  Thomas Moers Mayer, Esq., and Matthew J. Williams, Esq.
at Kramer Levin Naftalis & Frankel LLP, represent the Ad Hoc
Committee of Senior Subordinated Noteholders.

In July 2008, the Chapter 11 plan of liquidation for Le-Nature's
took effect.


LEAR CORP: 20 Affiliates' Schedules of Assets & Liabilities
-----------------------------------------------------------
Twenty debtor affiliates of Lear Corporation reported assets
ranging from $0 to $300 million.

Debtor                                      Assets  Liabilities
------                                      ------  -----------
Lear Trim L.P.                         309,679,148   17,787,402
Lear Canada                            266,505,819   17,240,656
Lear Automotive Dearborn, Inc.         222,080,509  275,070,067
Lear Mexican Seating Corporation        93,330,479   45,629,705
Lear Seating Holdings Corp., #50        83,987,418   22,854,694
Lear South Africa Limited               25,026,243    3,691,775
Lear South American Holdings Corp.      23,574,303      274,767
Resonol Seating, LLC                    19,435,012    6,868,382
Lear Corporation Canada Ltd.            17,044,898   73,227,012
Lear Corporation Global Dev't., Inc.     1,693,959    1,191,018
Lear Investments Company, LLC            1,506,293   11,014,011
Lear Canada Investments Ltd.                94,549            0
Lear Argentine Holdings Corporation #2      28,042      433,118
Lear EEDS Holdings, LLC                      1,000            0
Lear Holdings, LLC                           1,000            0
Lear #50 Holdings, LLC                         999            1
Lear Corporation (Germany) Ltd.                  0   25,713,655
Lear Mexican Holdings Corporation                0   24,959,004
Lear Mexican Holdings, LLC                       0            0
Lear Automotive Manufacturing, LLC               0            0

                          About Lear Corp

Lear Corporation -- http://www.lear.com/-- is one of the world's
leading suppliers of automotive seating systems, electrical
distribution systems and electronic products.  The Company's
products are designed, engineered and manufactured by a diverse
team of 80,000 employees at 210 facilities in 36 countries.
Lear's headquarters are in Southfield, Michigan, and Lear is
traded on the New York Stock Exchange under the symbol [LEA].
Outside the United States, Lear has subsidiaries in Germany,
Luxembourg, Sweden, Singapore, China, India and Mexico, among
others.

Lear Corporation and its affiliates filed for Chapter 11 on
July 7, 2009 (Bankr. S.D.N.Y. Case No. 09-14326).  Affiliates part
of the Chapter 11 filing include Lear South Africa Limited, Lear
Corporation (Germany) Ltd., Lear Corporation Canada Ltd., Lear
Mexican Holdings Corporation, and Lear South American Holdings
Corporation.

Attorneys at Kirkland & Ellis LLP, serve as the Debtors'
bankruptcy counsel.  McCarthy Tetrault LLP has been engaged as
CCAA counsel.  Bodman LLP has been hired as special Michigan
counsel.  Winston & Strawn LLP and Brooks Kushman P.C. have also
been tapped as special counsel.  Alvarez & Marsal North America
LLC, is the Debtors' restructuring advisors.  Ernst & Young LLP is
the Debtors' auditors and tax advisors.  Kurtzman Carson
Consultants LLC is the Debtors' claims and notice agent.  Simpson
Thacher & Bartlett LLP represents JP Morgan, as admin. agent for
senior secured lenders and DIP lenders.

As of May 30, 2009, Lear has assets of $1,270,800,000 against
debts of $4,536,000,000.

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


LEAR CORP: 20 Affiliates' Statement of Financial Affairs
--------------------------------------------------------
Twenty debtor-affiliates of Lear Corporation separately filed
with the Court their statements of financial affairs:

  1. Lear Trim L.P.
  2. Lear Canada
  3. Lear Automotive Dearborn, Inc.
  4. Lear Mexican Seating Corporation
  5. Lear Seating Holdings Corp., #50
  6. Lear South Africa Limited
  7. Lear South American Holdings Corp.
  8. Resonol Seating, LLC
  9. Lear Corporation Canada Ltd.
10. Lear Corporation Global Development,Inc.
11. Lear Investments Company, LLC
12. Lear Canada Investments Ltd.
13. Lear Argentine Holdings Corporation #2
14. Lear EEDS Holdings, LLC
15. Lear Holdings, LLC
16. Lear #50 Holdings, LLC
17. Lear Corporation (Germany) Ltd.
18. Lear Mexican Holdings Corporation
19. Lear Mexican Holdings, LLC
20. Lear Automotive Manufacturing, LLC

The Debtor-Affiliates disclosed that they earned these amounts
from employment or operation of business within two years prior
to the commencement of the bankruptcy cases:

                        YTD 2009        FY 2008        FY 2007
                        --------        -------        -------
Lear Trim L.P.      $208,658,908   $740,462,136   $825,020,396
Lear Canada          137,269,879    757,237,482  1,244,394,455
Lear South American
Holdings Corporation       3,329         59,592         24,562
Renosol Seating, LLC  28,917,663     79,591,967     96,037,285
Lear Mexican Seating
Corporation          327,930,104  1,046,190,902    948,954,159

These Debtor-Affiliates also earned income other than from
employment or operation of business:

                        YTD 2009        FY 2008        FY 2007
                        --------        -------        -------
Lear Trim L.P.      ($56,641,544) ($216,837,154) ($213,156,279)
Lear Canada          202,062,132    (80,675,183)   (12,672,966)
Lear Automotive
Dearborn, Inc.                 0              0     (8,170,559)
Lear Seating
Holdings Corp. #50         5,687       (594,788)   (14,132,998)
Lear South Africa
Limited                3,730,075         45,183      6,487,635
Lear South American
Holdings Corporation   1,070,918      2,042,729        447,730
Renosol Seating, LLC           0         69,564     (1,836,203)
Lear Corporation
Canada Ltd.            2,394,369       (694,469)    (2,242,607)
Lear Corporation Global
Development, Inc.      9,794,493     34,915,042     27,564,304
Lear Investments
Company, LLC                   0            (25)        (4,792)
Lear Canada Investments
Ltd.                      (2,596)         5,321            585
Lear Argentine Holdings
Corporation #2                 0          2,000              0
Lear Corporation
(Germany) Ltd.           (26,109)        32,819              0
Lear Mexican Seating
Corporation              527,235    (23,240,633)   (90,736,795)

Matthew J. Simoncini, director, president, principal executive
officer, and principal financial & accounting officer of Lear
Corporation, discloses that the Debtors made payments to
creditors within 90 days before the Petition Date:

Debtor                                              Amount
------                                              ------
Lear Canada                                    $58,951,145
Lear South American Holdings Corporation               800
Resonol Seating, LLC                            10,221,011

                          About Lear Corp

Lear Corporation -- http://www.lear.com/-- is one of the world's
leading suppliers of automotive seating systems, electrical
distribution systems and electronic products.  The Company's
products are designed, engineered and manufactured by a diverse
team of 80,000 employees at 210 facilities in 36 countries.
Lear's headquarters are in Southfield, Michigan, and Lear is
traded on the New York Stock Exchange under the symbol [LEA].
Outside the United States, Lear has subsidiaries in Germany,
Luxembourg, Sweden, Singapore, China, India and Mexico, among
others.

Lear Corporation and its affiliates filed for Chapter 11 on
July 7, 2009 (Bankr. S.D.N.Y. Case No. 09-14326).  Affiliates part
of the Chapter 11 filing include Lear South Africa Limited, Lear
Corporation (Germany) Ltd., Lear Corporation Canada Ltd., Lear
Mexican Holdings Corporation, and Lear South American Holdings
Corporation.

Attorneys at Kirkland & Ellis LLP, serve as the Debtors'
bankruptcy counsel.  McCarthy Tetrault LLP has been engaged as
CCAA counsel.  Bodman LLP has been hired as special Michigan
counsel.  Winston & Strawn LLP and Brooks Kushman P.C. have also
been tapped as special counsel.  Alvarez & Marsal North America
LLC, is the Debtors' restructuring advisors.  Ernst & Young LLP is
the Debtors' auditors and tax advisors.  Kurtzman Carson
Consultants LLC is the Debtors' claims and notice agent.  Simpson
Thacher & Bartlett LLP represents JP Morgan, as admin. agent for
senior secured lenders and DIP lenders.

As of May 30, 2009, Lear has assets of $1,270,800,000 against
debts of $4,536,000,000.

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


LEAR CORP: Liquidation Analysis Under Lear's Plan
-------------------------------------------------
Lear Corporation and its debtor affiliates, with the assistance
of its restructuring and financial advisors, Alvarez & Marsal
North America, LLC, has prepared a hypothetical liquidation
analysis in connection with their Joint Plan of Reorganization
and accompanying Disclosure Statement dated August 14, 2009.

The Liquidation Analysis indicates the values which may be
obtained by classes of Claims upon disposition of assets,
pursuant to a Chapter 7 liquidation, as an alternative to
continued operation of the business under the Plan.  Accordingly,
asset values discussed in the Liquidation Analysis may be
different than amounts referred to in the Plan.

As previously reported, the Debtors -- as part of the Debtors'
proposed Plan of Reorganization -- are divided into an A and B
Group.  The Group A Debtors  refer to the Debtor entities that
are guarantors or obligors under the Amended and Restated Credit
Agreement dated as of April 25, 2006, plus the Debtor entities
that are guarantors or obligors under the Indenture dated as of
November 24, 2006, and Indenture dated as of August 3, 2004.  The
remaining Debtors are classified as the Group B Debtors.

The Liquidation Analysis envisions the orderly transfer and
liquidation of substantially all of the Debtors' U.S. operations
over a 6-month period and the sale of the remaining operations as
going concerns, followed by a wind-down of the Chapter 7 estate.

The Liquidation Analysis assumes full recovery for the DIP
facility, an estimated range of recoveries for the senior secured
lenders between 33.5% and 35.8% (including recovery on deficiency
claim), and between 9.7% and 13.5% for all general unsecured
creditors.

Total net proceeds available for distribution are between $1.66
and $1.84 billion.

A full-text copy of the Liquidation Analysis is available for
free at http://bankrupt.com/misc/Lear_ValuationAnalysis.pdf

                       Executive Summary
                      Combined Recoveries
     (Stock Pledges, Group A Debtors, Group B Debtors)
                          (In USD 000's)

                                    Illustrative Recovery Range
                                    ---------------------------
                                                      Low Range
                                                      ---------
Net Distributable Value from Stock Pledges                    $-
Net Distributable Value Subject to Lien Basket           633,000
Net Distributable Value to Unsecured Creditors         1,025,693
                                                   -------------
Total Net Distributable Proceeds                       1,658,693

                                          Allowed
Less: Superpriority Secured Claims          Claims
                                           -------
DIP Facility and Other                    500,000       500,000
Payout for Superpriority Secured Claims                     100%
Less: Secured Claims
Secured Debt Holders Claims             2,337,000       633,000
Payout % for Secured Claims                                27.1%
Remaining Distributable Value                            525,693
Less: Admin and Priority Claims
Trade Accounts Payable (Postpetition)                         -
Accrued Liabilities, Admin. & Priority     63,012        63,012
Payout % for Admin. & Priority Claims                       100%
Remaining Distributable Value                            462,681
Less: General Unsecured Claims
Senior Debt Deficiency Claim            1,704,000       150,566
Bond Debt                               1,342,000       118,580
Trade Accounts Payable                     14,651         2,116
Intercompany Loans                      1,087,512        96,093
Intercompany A/P                           62,318        10,361
Other General Unsecureds                  569,302        85,684
                                         ---------       -------
Total Unsecured Non-Priority Claims      4,779,783       463,400
Payout % for G/U Claims                                     9.7%

  Memo
  ----
  Secured Debt Holders Claim Recovery                  783,566
  Total Secured Debt Holders Claim                   2,337,000
  Total Payout % for Senior Secured Debt                 33.5%


                       Executive Summary
                      Combined Recoveries
     (Stock Pledges, Group A Debtors, Group B Debtors)
                          (In USD 000's)

                                     Illustrative Recovery Range
                                     ---------------------------
                                                      High Range
                                                      ----------
Net Distributable Value from Stock Pledges                    $-
Net Distributable Value Subject to Lien Basket           633,000
Net Distributable Value to Unsecured Creditors         1,209,648
                                                   -------------
Total Net Distributable Proceeds                       1,842,648

                                          Allowed
Less: Superpriority Secured Claims          Claims
                                          -------
DIP Facility and Other                    500,000       500,000
Payout for Superpriority Secured Claims                     100%
Less: Secured Claims
Secured Debt Holders Claims             2,337,000       633,000
Payout % for Secured Claims                                27.1%
Remaining Distributable Value                            709,648
Less: Admin and Priority Claims
Trade Accounts Payable (Postpetition)                         -
Accrued Liabilities, Admin. & Priority     63,012        63,012
Payout % for Admin. & Priority Claims                       100%
Remaining Distributable Value                            646,636
Less: General Unsecured Claims
Senior Debt Deficiency Claim            1,704,000       204,493
Bond Debt                               1,342,000       161,051
Trade Accounts Payable                     14,651         3,219
Intercompany Loans                      1,087,512       130,510
Intercompany A/P                           62,318        16,114
Other General Unsecureds                  569,302       131,249
                                         ---------       -------
Total Unsecured Non-Priority Claims      4,779,783       646,636
Payout % for G/U Claims                                    13.5%

Memo
----
Secured Debt Holders Claims Recovery                    837,493
Total Secured Debt Holders Claim                      2,337,000
Total Payout % for Senior Secured Debt                     35.8%

                          About Lear Corp

Lear Corporation -- http://www.lear.com/-- is one of the world's
leading suppliers of automotive seating systems, electrical
distribution systems and electronic products.  The Company's
products are designed, engineered and manufactured by a diverse
team of 80,000 employees at 210 facilities in 36 countries.
Lear's headquarters are in Southfield, Michigan, and Lear is
traded on the New York Stock Exchange under the symbol [LEA].
Outside the United States, Lear has subsidiaries in Germany,
Luxembourg, Sweden, Singapore, China, India and Mexico, among
others.

Lear Corporation and its affiliates filed for Chapter 11 on
July 7, 2009 (Bankr. S.D.N.Y. Case No. 09-14326).  Affiliates part
of the Chapter 11 filing include Lear South Africa Limited, Lear
Corporation (Germany) Ltd., Lear Corporation Canada Ltd., Lear
Mexican Holdings Corporation, and Lear South American Holdings
Corporation.

Attorneys at Kirkland & Ellis LLP, serve as the Debtors'
bankruptcy counsel.  McCarthy Tetrault LLP has been engaged as
CCAA counsel.  Bodman LLP has been hired as special Michigan
counsel.  Winston & Strawn LLP and Brooks Kushman P.C. have also
been tapped as special counsel.  Alvarez & Marsal North America
LLC, is the Debtors' restructuring advisors.  Ernst & Young LLP is
the Debtors' auditors and tax advisors.  Kurtzman Carson
Consultants LLC is the Debtors' claims and notice agent.  Simpson
Thacher & Bartlett LLP represents JP Morgan, as admin. agent for
senior secured lenders and DIP lenders.

As of May 30, 2009, Lear has assets of $1,270,800,000 against
debts of $4,536,000,000.

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


LEAR CORP: Proposes PwC as Financial Advisor
--------------------------------------------
Lear Corp. and its affiliates seek the Court's authority to employ
PricewaterhouseCoopers LLP as their financial advisor, nunc pro
tunc to the Petition Date.  The Debtors have selected PwC because
of the firm's extensive experience in delivering tax services in
Chapter 11 cases.  More importantly, the Debtors note, PwC has
previously provided them with tax services.  The Debtors relate
that in connection with PwC's previous employment by the Debtors,
PwC has garnered considerable knowledge concerning the Debtors
and is already familiar with the Debtors' business affairs to the
extent necessary for the scope of the proposed and anticipated
services.

PwC's services and corresponding professional fees are:

(A) Washington National Tax Services: PwC intends to (i) seek
    compensation for its Washington National Tax Service on a
    "fixed" basis; (ii) seeks compensation for any additional
    services on an hourly basis in accordance with its ordinary
    and customary rates in effect on the date those services are
    rendered, and (iii) seek reimbursement of actual and
    necessary costs and expenses incurred by PwC in connection
    with these services provided.  The services are billed
    semiannually and have an annual cost of $30,000.  Consistent
    with the other services, PwC has agreed to reduce this fee by
    10 percent through December 31, 2009.

(B) International Tax Loaned Staff Arrangement: PwC intends to
    (i) seek compensation for any services on an hourly basis in
    accordance with its ordinary and customary rates in effect on
    the date those services are rendered, and (ii) seek
    reimbursement of actual and necessary costs and expenses
    incurred by PwC in connection with these services.  The
    loaned staff will be invoiced at these rates:

    Professional                   Rate/Hour
    ------------                   ---------
    Senior Associates                $185
    Associates                       $125

    PwC has agreed to reduce these fees by 10 percent for
    services through December 31, 2009.

(C) International Assignment Tax Compliance and Consulting
    Services: PwC intends to (i) seek compensation for several of
    the tax compliance services on a "fixed" basis; (ii) seek
    compensation for any additional consulting services on an
    hourly basis in accordance with its ordinary and customary
    rates in effect on the date those services are rendered, and
    (iii) seek reimbursement of actual and necessary costs and
    expenses incurred by PwC in connection with these services.
    Consistent with the other services, PwC has agreed to reduce
    these fees by 10 percent for services through December 31,
    2009.

(D) General Tax Consulting Services: PwC intends to (i) seek
    compensation for any services on an hourly basis in
    accordance with its ordinary and customary rates in effect on
    the date those services are rendered, and (ii) seek
    reimbursement of actual and necessary costs and expenses
    incurred by PwC in connection with these services.  PwC's
    rates per hour for these services:

   Staff Level            US Rates - Local   US Rates - National
   -----------            ----------------   -------------------
   Partner                  $500                  $630
   Director/Sr. Manager     $380                  $455
   Manager                  $350                  $380
   Senior Associate         $195                  $250
   Associate                $140                  $175

(E) Bankruptcy Tax Advisory Services: PwC intends to (i) seek
    compensation for any services on an hourly basis in
    accordance with its ordinary and customary rates in effect on
    the date those services are rendered, and (ii) seek
    reimbursement of actual and necessary costs and expenses
    incurred by PwC in connection with these services.  PwC's
    rates per hour for these services are:

    Staff Level                 Rates
    -----------                 -----
    Partner                  $500 - $800
    Director/Sr. Manager     $380 - $600
    Manager                  $350 - $500
    Senior Associate         $195 - $330
    Associate                $140 - $220

Michael P. Cenko, a partner at PricewaterhouseCoopers LLP,
assures the Court that his firm a "disinterested person" as that
term is defined in Section 101(14) of the Bankruptcy Code, as
modified by Section 1107(b) of the Bankruptcy Code.

A full-text copy of PwC's Engagement Letter is available for free
at http://bankrupt.com/misc/Lear_PwCEngagement.pdf

                          About Lear Corp

Lear Corporation -- http://www.lear.com/-- is one of the world's
leading suppliers of automotive seating systems, electrical
distribution systems and electronic products.  The Company's
products are designed, engineered and manufactured by a diverse
team of 80,000 employees at 210 facilities in 36 countries.
Lear's headquarters are in Southfield, Michigan, and Lear is
traded on the New York Stock Exchange under the symbol [LEA].
Outside the United States, Lear has subsidiaries in Germany,
Luxembourg, Sweden, Singapore, China, India and Mexico, among
others.

Lear Corporation and its affiliates filed for Chapter 11 on
July 7, 2009 (Bankr. S.D.N.Y. Case No. 09-14326).  Affiliates part
of the Chapter 11 filing include Lear South Africa Limited, Lear
Corporation (Germany) Ltd., Lear Corporation Canada Ltd., Lear
Mexican Holdings Corporation, and Lear South American Holdings
Corporation.

Attorneys at Kirkland & Ellis LLP, serve as the Debtors'
bankruptcy counsel.  McCarthy Tetrault LLP has been engaged as
CCAA counsel.  Bodman LLP has been hired as special Michigan
counsel.  Winston & Strawn LLP and Brooks Kushman P.C. have also
been tapped as special counsel.  Alvarez & Marsal North America
LLC, is the Debtors' restructuring advisors.  Ernst & Young LLP is
the Debtors' auditors and tax advisors.  Kurtzman Carson
Consultants LLC is the Debtors' claims and notice agent.  Simpson
Thacher & Bartlett LLP represents JP Morgan, as admin. agent for
senior secured lenders and DIP lenders.

As of May 30, 2009, Lear has assets of $1,270,800,000 against
debts of $4,536,000,000.

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


LEHMAN BROTHERS: Fee Committee Shave 2% From $119MM in Fees
-----------------------------------------------------------
Linda Sandler and Christopher Scinta at Bloomberg reported that
the fee committee named in Lehman Brothers Holdings Inc.'s chapter
11 cases told banks and lawyers advising the bankrupt firm to
shave 2 percent off the amounts billed for work from Feb. 1
through May 31.  According to the report, firms including Alvarez
& Marsal LLC, which provided the investment bank with its current
chief executive officer, and Weil Gotshal & Manges LLP of New
York, the lead bankruptcy-law firm, billed Lehman for almost $119
million in the period to cover their fees and expenses.  They
should cut their demands by $2.5 million, the fee committee said
in its filing with the Bankruptcy Court.

As reported by the TCR on August 24, 2009, Lehman Brothers
Holdings paid its advisers and lawyers $308 million for 10 months
of work, according to its operating report filed with the
Bankruptcy Court and the U.S. Securities and Exchange Commission.

             Schedule of Professional Fee Disbursements
                             Unaudited
                          ($ in thousands)

                                         07/01/09-    09/15/08-
                                         07/31/09     07/31/09
                                         --------     --------
   A. Lehman Sec. 363 Professionals

Alvarez & Marsal LLC
Interim Management                        $16,508     $131,492

Kelly Matthew Wright
Art Consultant and Auctioneer                  $4           34

Natixis Capital Markets Inc.
Derivatives Consultant                          -        4,910

   B. Lehman Sec. 327 Professionals

Bortstein Legal LLC
Special Counsel - IT and Other
Vendor Contracts                              174        1,512

Curtis, Mallet-Prevost,
Colt & Mosle LLP
Special Counsel Conflicts                     991        7,390

Ernst & Young LLP
Special Counsel - Audit and Tax Services      398          989

Huron Consulting
Special Counsel - Tax Services                137          601

Jones Day
Special Counsel - Asia                        927        3,847

Lazard Freres & Co.
Special Counsel -
Investment Banking Advisor                    324        7,298

McKee Nelson LLP
Special Counsel - Tax                         435        4,840

McKenna Long & Aldridge LLP
Special Counsel -
Commercial Real Estate Lending                  -        1,473

Reilly Pozner LLP
Special Counsel -
Mortgage Litigation and Claims                106          839

Simpson Thacher & Bartlett LLP
Special Counsel - SEC Reporting,
Asset Sales, and
Congressional Testimony                        24        1,271

Weil Gotshal & Manges LLP
Lead Counsel                               10,507       74,253

   C. Debtors - Claims and Noticing Agent

Epiq Bankruptcy Solutions LLC
Claims Management and Noticing Agent            -        2,039

   D. Creditors - Section 327 Professionals

FTI Consulting Inc.
Financial Advisor                           1,375        9,942

Houlihan Lokey Howard & Zukin Capital Inc.
Investment Banking Advisor                    336        3,452

Milbank Tweed Hadley & McCloy LLP
Lead Counsel                                4,266       21,512

Quinn Emanuel Urquhart Oliver & Hedges LLP
Special Counsel - Conflicts                   140        2,429

   E. Examiner - Section 327 Professionals

Duff & Phelps LLC
Financial Advisor                           2,944        7,694

Jenner & Block LLP
Examiner and Counsel                        2,873        9,575
                                         --------     --------
Total Non-Ordinary Course Professionals    42,470      297,390

Debtors - Ordinary Course Professionals     1,844       10,287
US Trustee Quarterly Fees                     154          378
                                         --------     --------
Total Professional Fees and UST Fees      $44,468     $308,055

                      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 US$639 billion in assets and US$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 US$2
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)


LEHMAN BROTHERS: PwC Says Euro Unit Clients Have to Wait 2 Years
----------------------------------------------------------------
Tony Lomas, partner at PricewaterhouseCoopers and administrator
for Lehman Brothers' European operations, told The Financial Times
that it could now take two more years before clients and creditors
get back billions of dollars of assets tied up in the bank when it
collapsed a year ago.

As reported by the TCR on Aug. 24, 2009, the U.K. High Court
handed down a judgement denying PwC's request for approval of a
scheme of arrangement that would have helped expedite the winding
up of Lehman Brothers' European units.  PwC proposed to divide
more than 1,000 clients into three classes and deal with the
claims by class rather than individually.  PwC had previously said
it could take up to a decade to return assets via bilateral
agreements, instead of the proposed scheme.  PwC is appealing the
ruling.

"I had hoped to break the back of this within 24 months, but with
the setback around the scheme and other issues, a more realistic
estimate is now 24-36 months," Mr. Lomas told the Financial Times.

According to FT, Mr. Lomas, nonetheless, said he was happy with
general progress on the case.  The administrators have returned
US$13 billion to a few dozen clients, including leading hedge
funds and corporate clients such as Chinalco, the steel giant,
whose 12 per cent stake in Rio Tinto was trapped inside Lehman
when the bank collapsed.

PwC, FT reports, has also realised US$9 billion in cash for
creditors and taken control of another US$10 billion of assets.
It is now preparing to lodge claims against other parts of the
Lehman empire, including one of tens of billions against the US
parent company.

PwC has earned fees of GBP120 million on the case, and total fees
paid to advisers of the European arm are running at roughly the
same level as in the United States where fees have topped US$300
million (GBP180 million).

                      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 US$639 billion in assets and US$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 US$2
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)


LEHMAN BROTHERS: Vale Joins Line of Workers Filing Claims
---------------------------------------------------------
According to Christopher Scinta at Bloomberg News, Judith Vale,
the Neuberger Berman LLC money manager who said top executives of
Lehman Brothers Holdings Inc. should cut their bonuses, joined
several other employees in filing claims against bankrupt Lehman
for unpaid stock awards, overtime and other compensation.  The
report relates that Ms. Vale, who runs the Neuberger Berman
Genesis Fund, filed a $12.3 million claim for stock awards and
other compensation.

Joseph Gregory, former president and chief operating officer of
LBHI filed a claim for $233 million for unpaid equity awards,
including stock options and stock units he was entitled to.

The Bankruptcy Court has set a Sept. 22 deadline for all claims
against LBHI and its affiliated debtors.

Meanwhile, according to The Wall Street Journal, Richard Fuld Jr.,
the former chief of Lehman Brothers Holdings Inc., told employees
of a new firm staffed by former employees of Lehman Brothers that
he is sorry for his role in the collapse of Lehman in
September 15, 2008.  Mr. Fuld had publicly said he did everything
to save Lehman and he blamed the U.S. government for bailing out
other banks but letting Lehman fail.  Mr. Fuld is regulatory
probes and dozens of civil suits over his role in the firm's fall.
The Journal relates that Mr. Fuld, who once oversaw 25,000
employees, has opened a financial-advisory firm on Manhattan's
Third Avenue, with two assistants and an aide.

                      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)


LEHMAN BROTHERS: Firms Face FSA Action Over Structured Products
---------------------------------------------------------------
Following the collapse of Lehman Brothers, the Financial Services
Authority and Financial Ombudsman Service have been looking at the
potential detriment this has caused for investors in the UK
structured products market.

In May, the FSA and Ombudsman agreed that the issues relating to
Lehman-backed structured products should be considered under the
"Wider Implications" process, in order to allow the FSA to explore
all options to achieve the best outcome for consumers.

The FSA has now gained enough information from its review to
enable it to move forward and believes it is now appropriate to
lift the hold on individual adjudications of complaints on an
immediate basis.

The FSA will report back on the outcomes of its review in more
detail in October but confirms that it will be taking action
against firms as a result of the findings of the review.

Dan Waters, retail policy director at the FSA, said, "This is a
hugely complex area and during our review we have looked at
promotional literature, clarity of information, quality of advice,
sales systems and controls, involving plan managers, providers and
advisers.

"There is still much for us to do and we will be outlining some of
the findings of the review next month in more detail, but I can
confirm that we have found serious issues and will be taking
action against firms," he added.

"In light of the progress we have made, we believe our regulatory
action can now progress alongside the Ombudsman adjudicating on
individual complaints without prejudicing either, so individual
cases referred to the Ombudsman can now proceed."

                      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 US$639 billion in assets and US$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 US$2
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)


LNR PROPERTY: Bank Debt Trades at 36% Off in Secondary Market
-------------------------------------------------------------
Participations in a syndicated loan under which LNR Property
Corporation is a borrower traded in the secondary market at 64.00
cents-on-the-dollar during the week ended Friday, Sept. 11, 2009,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 1.46
percentage points from the previous week, The Journal relates.
The loan matures on July 11, 2011.  The Company pays 275 basis
points above LIBOR to borrow under the facility.  The bank debt
carries Moody's B2 rating and Standard & Poor's B- rating.  The
debt is one of the biggest gainers and losers among widely quoted
syndicated loans in secondary trading in the week ended Sept. 11,
among the 154 loans with five or more bids.

LNR Property Corporation -- http://www.lnrproperty.com/-- is a
real estate investment and management company spun off from
homebuilding giant Lennar in 1997. LNR owns and manages a
portfolio of real estate properties and real estate finance
investments (unrated and junk-grade commercial mortgage-backed
securities and collateralized debt obligations, high-yield
mortgage loans, and mezzanine financing). Its LandSource
Communities Development joint venture with Lennar develops and
sells homes as well as land for residential or commercial use; it
owns Newhall Land and Farming. LandSource declared bankruptcy in
2008, a victim of the housing downturn. LNR is a subsidiary of
Cerberus Capital Management, which owns a 75% stake in the company
through LNR Property Holdings.


LYONDELL CHEMICAL: Discontinues Aircraft Deicer Sales
-----------------------------------------------------
Lyondell Chemical Company announced that it intends to exit the
aircraft deicer market as a direct seller but will continue to
supply that market with propylene glycol (PG), the primary
component of deicers.

"We have made a strategic decision to transition from being a
direct participant in the aircraft deicer business to a propylene
glycol supplier with the capacity, flexibility and infrastructure
necessary to meet the demanding requirements of this market.  The
deicer market will continue to be a key outlet for our PG, but our
intended future role will be as a bulk supplier of propylene
glycol," said Patrick Quarles, Senior Vice President of
Intermediates & Derivatives for LyondellBasell.

"The chapter 11 process has provided us with a unique opportunity
to transition out of the deicer business as a direct supplier,"
Mr. Quarles said.  Lyondell recently notified customers that
offers and proposals to supply deicers for the 2009-10 winter
season had been withdrawn.  The Company has requested relief from
the bankruptcy court with respect to existing supply contract
obligations.  "We remain committed to the deicer business but our
anticipated future participation will be one step removed from the
airlines and airports that utilize this product," Mr. Quarles
said.

                      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 US$8 billion in DIP financing
to fund continuing operations.  The DIP financing includes two
credit agreements: a US$6.5 billion term loan, which comprises a
US$3.25 billion in new loans and a US$3.25 billion roll-up of
existing loans; and a US$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)


MANITOWOC CO: Bank Debt Trades at 9% Off in Secondary Market
------------------------------------------------------------
Participations in a syndicated loan under which Manitowoc Co. Inc,
is a borrower traded in the secondary market at 91.21 cents-on-
the-dollar during the week ended Friday, Sept. 11, 2009, according
to data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents an increase of 0.61 percentage
points from the previous week, The Journal relates.  The loan
matures April 14, 2014.  The Company pays 350 basis points above
LIBOR to borrow under the facility.  The bank debt carries Moody's
B1 rating and S&P's BB rating.  The debt is one of the biggest
gainers and losers among widely quoted syndicated loans in
secondary trading in the week ended Sept. 11, among the 154 loans
with five or more bids.

Based in Manitowoc, Wisconsin, The Manitowoc Company, Inc. --
http://www.manitowoc.com/-- is a multi-industry, capital goods
manufacturer with over 100 manufacturing and service facilities in
27 countries.  It is recognized as one of the world's largest
providers of lifting equipment for the global construction
industry, including lattice-boom cranes, tower cranes, mobile
telescopic cranes, and boom trucks.  Manitowoc also is one of the
world's leading innovators and manufacturers of commercial
foodservice equipment serving the ice, beverage, refrigeration,
food prep, and cooking needs of restaurants, convenience stores,
hotels, healthcare, and institutional applications.


MARY ANN & DOMENIC: Gets $140,000 Offer for Maintenance Building
----------------------------------------------------------------
Mary Ann Petitta and Domenic J. Petitta have received a $140,000
offer from Brian Viviani to purchase their Maintenance Building
located at 4281 Ohio River Blvd., in Bellevue, Pa., on an "as-is,
where-is" basis.  Objections to the sale, if any, must be filed
and served by Sept. 22, 2009.  A hearing will be held on Sept. 29,
2009, at 10:00 a.m. in Pittsburgh to approve the transaction and
entertain any higher and better offers.  For further information
about the property, contact:

        Robert O. Lampl, Esq.
        960 Penn Avenue, Suite 1200
        Pittsburgh, PA 15222
        Telephone: (412) 392-0330
        Fax: (412) 392-0335
        E-mail: rol@lampllaw.com

Mary Ann Petitta sought protection under Chapter 11 (Bankr. W.D.
Pa. Case No. 08-27164) on October 27, 2008.  A copy of Mrs.
Petitta's Chapter 11 petition is available at
http://bankrupt.com/misc/pawb08-27164.pdfat no charge.  Domenic
J. Petitta sought protection under Chapter 11 (Bankr. W.D. Pa.
Case No. 08-28300) on December 12, 2008, estimating his assets and
debts at $1 million to $10 million.  Domenic Motors, Ltd, filed
for bankruptcy (W.D. Pa. Case No. 08-27162) on October 27, 2008.


MCGRATH HOTELS: Maureen Clark Arrested for Tax Evasion
------------------------------------------------------
Maureen Clark, the former owner of McGrath Hotels LCC's Lighthouse
Inn, was arrested by the Department of Revenue Services and the
Stonington police, Lee Howard at TheDay.com reports, Sarah
Kaufman, director of communications for the state tax-collection
agency.

According to TheDay.com, DRS charged Ms. Clark with 18 counts of
failure to pay room occupancy taxes, 11 counts of failure to pay
sales taxes, and five counts each of failure to file sales and
room occupancy taxes.

A DRS probe showed that Ms. Clark, who held the sales tax license
for Lighthouse Inn, failed to turn over the sales and room taxes
to the state of New London, TheDay.com says, citing Ms. Kaufman.

Former Lighthouse Inn workers, TheDay.com relates, said that Ms.
Clark wasn't involved in the day-to-day operation of the property
during its last few months in business.  The employees said that
Lighthouse Inn was run by Christopher Plummer in the final few
months before August 2008, TheDay.com states.

Court documents say that Ms. Clark tried to stop the Lighthouse
Inn's sale in March 2009, claiming that she had a buyer for the
property, but four days after she withdrew the request to hold up
the sale.

Lighthouse Group of Connecticut filed an involuntary Chapter 11
bankruptcy in the U.S. Bankruptcy Court in Hartford against
McGrath Hotels LCC.


MDWERKS INC: June 30 Balance Sheet Upside-Down by $8.6 Million
---------------------------------------------------------------
MDwerks Inc.'s balance sheet at June 30, 2009, showed total assets
of $5,629,909 and total liabilities of $14,293,458 resulting in a
stockholders' deficit of $8,663,549.

For three months ended June 30, 2009, the Company posted a net
loss of $1,549,421 compared with a net loss of $2,574,154 for the
same period in 2008.

For six months ended June 30, 2009, the Company posted a net loss
of $2,831,018 compared with a net loss of $4,324,338 for the same
period in 2008.

A full-text copy of the Company's Form 10-Q is available for free
at http://ResearchArchives.com/t/s?44a1

Based in Deerfield Beach, Florida, MDwerks Inc. (OTC BB: MDWK)
-- http://www.mdwerks.com/-- provides healthcare professionals
with automated electronic insurance claims management solutions
and advance funding of medical claims.

                      Going Concern Doubt

On April 2, 2009, Sherb & Co., LLP, in Boca Raton, Florida, raised
substantial doubt about MDwerks' ability to continue as a going
concern after auditing its financial results for the periods ended
December 31, 2008, and 2007.  The auditors pointed that the
Company has suffered recurring losses from operations; the Company
has a stockholders' deficiency of $6,138,432 and a working capital
deficiency of $1,504,676 at March 31, 2009.


MEDIACOM COMMUNICATIONS: Unveils Results of Cash Tender Offers
--------------------------------------------------------------
Mediacom Communications Corporation and its subsidiaries Mediacom
LLC and Mediacom Capital Corporation on September 9, 2009,
announced the expiration and final results of the cash tender
offers for any and all of the Companies' outstanding 9-1/2% Senior
Notes due 2013 and the Companies' outstanding 7-7/8% Senior Notes
due 2011.  The tender offers expired at 11:59 p.m., New York City
time, on September 8.

On August 25, 2009, the Companies early accepted and paid for all
Notes validly tendered and not withdrawn as of 5:00 p.m., New York
City time, on August 24, 2009.  As of the Early Tender Date,
holders of $385.2 million aggregate principal amount of 9-1/2%
Notes and $63.6 million aggregate principal amount of 7-7/8% Notes
had validly tendered and not withdrawn their Notes.

Since the Early Tender Date, holders of $5.0 million aggregate
principal amount of 9-1/2% Notes and $7.5 million aggregate
principal amount of 7-7/8% Notes have validly tendered their Notes
as of the Expiration Date.  Payment for such Notes, including
accrued and unpaid interest from the last interest payment date
applicable to, but not including, the payment date, will be made
promptly.

The Companies have or will purchase, in the aggregate,
$390.2 million principal amount of 9-1/2% Notes and $71.1 million
principal amount of 7-7/8% Notes, representing 78% and 57% of the
outstanding principal amount of those notes, respectively.

The Companies previously announced the call for redemption of the
entire principal amount of both its 9-1/2% Notes and 7-7/8% Notes
that remain outstanding following the expiration of the tender
offers.  The redemption date for both series of Notes has been set
for September 24, 2009.  In accordance with the redemption
provisions of the Notes and the related indentures, any non-
tendered Notes will be redeemed at a price equal to 100% of the
principal amount, plus accrued and unpaid interest to, but not
including, the redemption date.

Wells Fargo Securities and Citi acted as the dealer managers for
the tender offers, and Global Bondholder Services Corporation
acted as the information agent and depositary.  Questions
regarding the tender offers may be directed to Wells Fargo
Securities at (866) 309-6316 or Citi at (800) 558-3745.

The tender offers are being made solely by the Offer to Purchase,
dated August 11, 2009, as amended and supplemented by the
Supplement to the Offer to Purchase, dated August 13, 2009, and
the related Letter of Transmittal, copies of which are available
from the Information Agent.

                   About Mediacom Communications

Based in Middletown, New York, Mediacom Communications Corporation
(Nasdaq: MCCC) -- http://www.mediacomcc.com/-- is the nation's
eighth largest cable television company and one of the leading
cable operators focused on serving the smaller cities and towns in
the United States.  Mediacom Communications offers a wide array of
broadband products and services, including traditional video
services, digital television, video-on-demand, digital video
recorders, high-definition television, high-speed data access and
phone service.

As of June 30, 2009, the Company had $7,707,511,000 in total
assets and $4,134,059,000 in total liabilities, resulting in
$426,548,000 in stockholders' deficit.  The Company's June 30
balance sheet also showed strained liquidity with $185,851,000 in
total current assets, including $68,774,000 in cash and cash
equivalents, for $451,307,000 in total current liabilities.


MEGA BRANDS: S&P Downgrades Corporate Credit Rating to 'CC'
-----------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its ratings on
Montreal-based MEGA Brands Inc. and its subsidiaries, including
the long-term corporate credit rating by two notches to 'CC' from
'CCC'.  The outlook is negative.

At the same time, S&P lowered the issue-level rating on the
company's senior secured debt three notches to 'C' from 'CCC', and
revised the recovery rating on the bank loan to '5' from '4'.  The
'5' recovery rating indicates an expectation of modest (10%-30%)
recovery in the event of a payment default, in contrast to a '4'
recovery rating, which indicates S&P's expectation of average
(30%-50%) recovery.  Standard & Poor's revised the recovery rating
due to its use of a lower EBITDA amount for the company in the
event of default.

"The downgrade and revision to the recovery rating reflect S&P's
view that MEGA Brands' very weak liquidity position and operating
performance, as well as high debt leverage, have resulted in a
higher risk of default," said Standard & Poor's credit analyst
Lori Harris.  "The company's operating cash flow remains
constrained by what S&P consider its heavy debt burden and poor
operating results," Ms. Harris added.

With negative free cash flow, MEGA Brands might need outside cash
injections or divestiture proceeds to support the business.  Both
revenue and EBITDA declined materially in the six months ended
June 30, 2009, compared with the same period in 2008 due to lower
volume in both the toys and stationery/activities segments.  MEGA
Brands' credit protection measures have weakened considerably in
the past year, with adjusted debt to EBITDA of more than 20x for
the 12 months ended June 30, 2009.

The ratings on MEGA Brands reflect what S&P view as the company's
weak financial risk profile; limited financial flexibility;
customer concentration, with the top three customers accounting
for 43% of 2008 sales; litigation risk; and challenging toy
industry fundamentals, including a very competitive operating
environment, seasonal sales, and ongoing reliance on successful
new product introductions.

The negative outlook reflects Standard & Poor's expectation that
MEGA Brands' liquidity, operating performance, and credit ratios
will remain weak in 2009, driven by soft EBITDA and elevated debt
levels.  S&P would likely lower the ratings if the company
defaults on its debt obligations.  Currently, S&P do not expect to
raise the ratings in the near term unless MEGA Brands meaningfully
strengthens its liquidity position.


MERCER INT'L: Sweetens Exchange Offer for 8.5% Notes Due 2010
-------------------------------------------------------------
Mercer International Inc. has amended its exchange offer for any
and all of its outstanding 8.5% Convertible Senior Subordinated
Notes due October 2010 previously commenced on July 13, 2009, and
extended on August 11 and 25, 2009, to increase the total
consideration being offered to holders of the Old Notes.

Mercer is now offering to exchange each $1,000 principal amount of
Old Notes for:

     -- $1,000 in principal amount of new 8.5% Convertible Senior
        Subordinated Notes due October 2011;

     -- a premium of 17 shares of Mercer common stock;

     -- a premium of 15 warrants to purchase one share of Common
        Stock per warrant; and

     -- accrued and unpaid interest on the Old Notes to, but
        excluding, the settlement date of the Amended Exchange
        Offer.

Under the Amended Exchange Offer, Holders will receive New Notes
in the same principal amount as the Old Notes.  The New Notes will
have substantially all of the same terms as the Old Notes,
including as to interest and conversion, but the maturity date
shall be one year later.  Holders of Old Notes which are validly
tendered and accepted pursuant to the Amended Exchange Offer will
receive, in addition to the New Notes and the Interest, additional
consideration in the form of 17 shares of Common Stock and 15
Warrants per $1,000 of Old Notes.  The Warrants will be
exercisable at an exercise price of $4.25 per share of Common
Stock and will expire on October 15, 2011.

Currently, approximately $67.3 million principal amount of the Old
Notes are outstanding.

The Amended Exchange Offer is being made on the terms and
conditions set forth in an amended and restated offering circular
dated September 9, 2009, and the related amended and restated
letter of transmittal.  Copies of these and other documents will
be distributed to all holders of the Old Notes. Requests for
additional copies of such documents or questions regarding the
procedures for tendering the Old Notes may be directed to the
Information Agent for the Exchange Offer, Georgeson Inc., at 1-
800-267-4403 (toll free).

The Exchange Offer is exempt from the registration requirements of
the Securities Act of 1933, as amended, pursuant to Section
3(a)(9) thereof and will expire at 5:00 p.m. New York City time on
September 23, 2009, unless extended or earlier terminated.
Tendered Old Notes may be withdrawn prior to, but not after the
Expiration Time.

Consummation of the Exchange Offer is subject to the conditions
set forth in the Amended and Restated Offering Circular and the
Amended and Restated Letter of Transmittal.  Subject to applicable
law, Mercer may amend, extend or terminate the Amended Exchange
Offer at any time.

On September 9, 2009, the Company filed with the Securities and
Exchange Commission:

     -- Amendment No. 3 to amends and supplement the Issuer Tender
        Offer Statement on Schedule TO originally filed on
        July 13, 2009.

        See http://ResearchArchives.com/t/s?449b

     -- Amendment No. 1 to the Application for Qualification of
        Indenture on Form T-3 filed by Mercer International on
        July 13, 2009.

        See http://ResearchArchives.com/t/s?449c

As reported by the Troubled Company Reporter on August 27, 2009,
Mercer extended its exchange offer until September 9, after no Old
Notes were tendered for exchange by the August 25 deadline.

As reported by the Troubled Company Reporter on July 16, 2009,
Standard & Poor's Ratings Services lowered its corporate credit
rating and issue-level rating on Mercer International.  S&P
lowered the corporate credit rating to 'CC' from 'B-' and lowered
the rating on the senior unsecured debt to 'CC' from 'B-'.  The
rating outlook is negative.  The rating downgrade followed
Mercer's exchange offer announcement.

"The rating downgrade reflects S&P's view that the exchange is
tantamount to a default given Mercer's highly leveraged financial
profile," said Standard & Poor's credit analyst Andy Sookram.

Mercer International Inc. (Nasdaq: MERC, TSX: MRI.U) --
http://www.mercerint.com/-- is a global pulp manufacturing
company.


METRO-GOLDWYN-MAYER: Bank Debt Trades at 45% Off
------------------------------------------------
Participations in a syndicated loan under which Metro-Goldwyn-
Mayer, Inc., is a borrower traded in the secondary market at 55.00
cents-on-the-dollar during the week ended Friday, Sept. 11, 2009,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents a drop of 0.88
percentage points from the previous week, The Journal relates.
The loan matures April 8, 2012.  The Company pays 275 basis points
above LIBOR to borrow under the facility.  The bank debt is not
rated by either Moody's or Standard & Poor's.  The debt is one of
the biggest gainers and losers among widely quoted syndicated
loans in secondary trading in the week ended Sept. 11, among the
154 loans with five or more bids.

Metro-Goldwyn-Mayer, Inc., is an independent, privately held
motion picture, television, home video, and theatrical production
and distribution company.  The Company owns the world's largest
library of modern films, comprising approximately 4,000 titles,
and over 10,400 episodes of television programming.  MGM is owned
by an investor consortium comprised of Providence Equity Partners,
TPG Capital, Sony Corporation of America, Comcast Corporation, DLJ
Merchant Banking Partners and Quadrangle Group.

The Troubled Company Reporter said on May 22, that Metro-Goldwyn-
Mayer hired Moelis & Co. to help refinance $3.7 billion debt and
was in talks with a steering committee of 140 creditors led by
JPMorgan Chase & Co. as part of the process.  Sue Zeidler at
Reuters said the studio "was exploring options for optimizing its
capital structure and has begun talks with a steering committee of
its lenders as part of the process."  Ms. Zeidler said bankers
estimate MGM is paying north of $250 million a year in interest on
debt due in 2012.  Sources told Reuters MGM was potentially
seeking a way to make the loan due later, or reduce it in size.

Comcast paid about $5 billion in debt and equity in September 2004
to buy MGM from majority owner Kirk Kerkorian.  According to
Reuters, merger specialists have said MGM could be worth
$2 billion to $2.5 billion.  MGM, however, has reiterated its
commitment to staying independent.


MGM MIRAGE: Extends Early Participation Date for Exchange Offer
---------------------------------------------------------------
MGM MIRAGE is extending the early participation date for its offer
to eligible holders to exchange a portion of the $782 million in
aggregate outstanding principal amount of the Company's 8.50%
Senior Notes due 2010 for up to $500 million of the Company's
10.00% Senior Notes due 2016.  The early participation date was
extended from 5:00 p.m., New York City time, on September 10,
2009, to 11:59 p.m., New York City time, on September 24, 2009.
The withdrawal date for the exchange offer occurred at 5:00 p.m.,
New York City time, on September 10, 2009, and will remain
unchanged.

Because the early participation date will occur concurrently with
the expiration date of the exchange offer, the Company will
exchange each $1,000 in principal amount of Existing Notes validly
tendered on or prior to the expiration date and accepted in the
exchange offer for the total consideration of $1,175 in principal
amount of the New Notes.  In the event that more than $500 million
in aggregate principal amount of New Notes would be issuable for
all of the Existing Notes validly tendered on or prior to the
expiration date and not validly withdrawn, such Existing Notes
validly tendered will be accepted on a prorated basis so that no
more than $500 million in aggregate principal amount of New Notes
will be issued in the exchange offer.

Subject to applicable law, the Company may amend, extend or
terminate the exchange offer.  Although the exchange offer is not
conditioned upon any minimum principal amount of the Existing
Notes being tendered in the exchange offer, the exchange offer is
subject to certain customary conditions described in the
confidential offering memorandum dated August 27, 2009.  The
complete terms and conditions of the exchange offer are set forth
in such confidential offering memorandum and the related letter of
transmittal, in each case, as updated.

The New Notes have not been registered under the Securities Act of
1933, as amended, and may not be offered or sold in the United
States absent registration or an applicable exemption from
registration requirements.

The exchange offer is being made only to qualified institutional
buyers and to certain non-U.S. investors located outside the
United States.  The exchange offer is made only by, and pursuant
to, the terms set forth in the confidential offering memorandum
and the accompanying letter of transmittal, in each case, as
updated.

                        About MGM MIRAGE

Headquartered in Las Vegas, Nevada, MGM MIRAGE (NYSE: MGM) --
http://www.mgmmirage.com/-- is a hotel and gaming company.  It
owns and operates 17 properties located in Nevada, Mississippi and
Michigan, and has investments in three other properties in Nevada,
New Jersey and Illinois.

At June 30, 2009, the Company had $22.4 billion in total assets,
including $1.07 billion in total current assets; $1.23 billion in
total current liabilities, $3.58 billion in deferred income taxes,
$12.3 billion in long-term debt, $186.7 million in other long-term
obligations; and $5.04 billion in stockholders' equity.

                           *     *     *

MGM Mirage continues to carry Standard & Poor's Ratings Services'
'CCC+' corporate credit ratings and Moody's Investors Service's
Caa2 Corporate Family Rating and Caa3 Probability of Default
Rating.

According to the Troubled Company Reporter on September 1, 2009,
S&P assigned its issue-level and recovery ratings to MGM MIRAGE's
proposed up to $500 million senior unsecured notes due 2016.  The
notes were rated 'CCC+' (at the same level as the corporate credit
rating on the company) with a recovery rating of '4', indicating
S&P's expectation of average (30%-50%) recovery for noteholders in
the event of a payment default.


MONAHAN FILAMENTS: Will Shut Down Middlebury Factory in November
----------------------------------------------------------------
Monahan Filaments said in a statement that it will close its
Middlebury factory in November due to market conditions and the
cost of operations in Middlebury.

The Associated Press reports that due to a severe decline in
orders, Monahan Filaments said in April that it would let go of
half of its around 100 employees.

Monahan Filaments is based in Illinois.  The factory produces
filaments for use in products ranging from toothbrushes to
industrial brushes.


MORRIS PUBLISHING: Obtains September 18 Extension of Forbearance
----------------------------------------------------------------
Morris Publishing Group, LLC announced September 11 that it has
obtained an extension until September 18, 2009 to make two semi-
annual interest payments of $9.7 million on its senior
subordinated notes originally due Feb. 1, 2009 and August 3, 2009.
The holders of more than 80 percent of the outstanding amount of
senior subordinated notes have agreed to extend the forbearance
period for these payments.

Morris Publishing's senior bank group also agreed to extend until
September 18, 2009 the waiver of the cross defaults arising from
the overdue interest payments on the senior subordinated notes.

                      About Morris Publishing

Morris Publishing Group, LLC -- http://morris.com/-- is a
privately held media company based in Augusta, Ga.  Morris
Publishing currently owns and operates 13 daily newspapers as well
as nondaily newspapers, city magazines and free community
publications in the Southeast, Midwest, Southwest and Alaska.

As of June 30, 2009, Morris Publishing had $167,632,000 in total
assets and $475,434,000 in total liabilities.


MOUNTAIN JET SERVICES: Case Summary & Unsecured Creditor
--------------------------------------------------------
Debtor: Mountain Jet Services, LLC
        32 Orange Street
        Asheville, NC 28801

Bankruptcy Case No.: 09-11002

Chapter 11 Petition Date: September 10, 2009

Court: United States Bankruptcy Court
       Western District of North Carolina (Asheville)

Judge: George R. Hodges

Debtor's Counsel: Gene B. Johnson, Esq.
                  Johnson Law Firm, P.A.
                  PO Box 1288
                  Arden, NC 28704
                  Tel:  (828) 650-0859
                  Fax:  (828) 650-0913
                  Email: gbj@johnsonlawnc.com

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

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

The Debtor identified Dove Air, Inc. with a disputed debt claim
for $12,500 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/ncwb09-11002.pdf

The petition was signed by Keith Vinson.


NCI BUILDING: Outlines Terms of Financial Restructuring
-------------------------------------------------------
NCI Building Systems, Inc., is proposing a financial restructuring
to address an immediate need for liquidity in light of a
potentially imminent default under, and acceleration of, its
existing credit facility, which may occur as early as November 6,
2009 (which may, in turn, also lead to a default under, and
acceleration of, its other indebtedness, including the
$180.0 million in principal amount of 2.125% Convertible Senior
Subordinated Notes due 2024, and the high likelihood that it will
be required to repurchase the convertible notes on November 15,
2009, the first scheduled mandatory repurchase date under the
convertible notes indenture.

NCI Building is proposing to effect the financial restructuring
through one of these two approaches:

     (1) an out-of-court financial restructuring -- the
         recapitalization plan, consisting of:

         -- an exchange offer to acquire any and all of the
            convertible notes for cash and shares of the Company's
            common stock, par value $0.01 per share;

         -- a $250.0 million investment -- the CD&R investment --
            by Clayton, Dubilier & Rice Fund VIII, L.P., a fund
            managed by Clayton, Dubilier & Rice, Inc., a private
            equity investment firm, involving a private placement
            to the CD&R Fund of a newly created series of NCI
            Building's preferred stock, par value $1.00 per share,
            to be designated as the Series B Cumulative
            Convertible Participating Preferred Stock;

         -- the refinancing of the Company's existing credit
            Facility -- the term loan refinancing -- under which
            the Company and the lenders under the existing credit
            agreement will enter into an amendment to the existing
            credit agreement, providing for, among other things,
            the repayment of approximately $143.3 million of the
            $293.3 million in principal amount of term loans
            outstanding under the existing credit facility and a
            modification of the terms and maturity of the
            $150.0 million balance; and

         -- the ABL financing, pursuant to which the Company will
            enter into an agreement for a $125.0 million asset-
            based loan facility;

or, in the alternative, if conditions to completion of the
recapitalization plan are not satisfied or waived,

     (2) an in-court financial restructuring, through which the
         Company would seek to accomplish the results contemplated
         by the recapitalization plan through the effectiveness of
         a prepackaged plan of reorganization.

   NCI BUILDING'S CAPITALIZATION

                                          As of August 2, 2009
                                      --------------------------
                                          Actual     As Adjusted
                                      ------------   -----------
Cash and cash equivalents             $105,376,000   $63,124,000

Restricted Cash                         13,224,000    13,224,000
Note Payable                               962,000       962,000
Debt
$125MM Sr. Secured Revolving
   Credit Facility                               -             -
$400MM Term Loan, due 2010             293,290,000   150,000,000
2.125% Conv. Sr. Subordinated
   Notes, Due 2024                     180,000,000             -
Industrial Revenue Bond                    420,000       420,000
                                      ------------   -----------
Total Debt                             473,710,000   150,420,000

Series B conv. preferred stock                  -    212,579,000

Stockholders' equity (deficit):
Series A preferred stock                        -              -
Common Stock                              227,000        929,000
Additional paid-in capital            203,401,000    384,974,000
Retained earnings (deficit)          (103,882,000)  (215,324,000)
Accumulated other
   comprehensive income (loss)           (917,000)       975,000
Treasury stock, at cost              (117,050,000)  (117,050,000)
                                      ------------   -----------
Total stockholders' equity (deficit)   (18,221,000)   54,504,000
                                      ------------   -----------

Total capitalization                  $456,451,000   418,465,000

Book value per sha
Basic                                        (0.91)     0.6
Diluted                                      (0.91)     0.6

On September 10, 2009, NCI Building commenced the exchange offer
to retire all of its existing 2.125% Convertible Senior
Subordinated Notes due 2024.  Upon the terms and subject to the
conditions of the Exchange Offer, the Company is offering to
exchange $500 in cash and 390 shares of NCI common stock for each
$1,000 principal amount of Convertible Notes validly tendered and
not withdrawn at the expiration of the Exchange Offer.  The
Exchange Offer is subject to certain conditions, including the
tender of at least 95% of the aggregate principal amount of such
Convertible Notes.

On August 31, 2009, NCI Building entered into a lock-up and voting
agreement pursuant to which holders of more than 79% of the
aggregate principal amount of the Company's outstanding
Convertible Notes have agreed to tender their notes in the
Exchange Offer.  The Exchange Offer will expire at 11:59 p.m., New
York City time on October 7, 2009, unless extended or earlier
terminated by the Company.

On August 31, 2009, (1) the Company and the CD&R Fund executed
amendment no. 2 to the investment agreement which, among other
things, amended the terms of the exchange offer contemplated by
the original investment agreement to provide that holders of
convertible notes would receive $500 cash and 390 shares of common
stock for each $1,000 principal amount of convertible notes
tendered in the exchange offer, and (2) concurrently with such
execution, the Company and a group of noteholders representing
more than 75% of the outstanding convertible notes executed the
lock-up and voting agreement. Certain of the members of the group
of noteholders also hold term loans and other obligations under
our existing credit agreement and agreed to support the term loan
refinancing as part of the lock-up and voting agreement.
Subsequent to the execution of the lock-up  agreement, additional
holders of notes became party to the lock-up  agreement,
increasing the aggregate amount of convertible notes subject
thereto to 79% of the outstanding convertible notes.

Greenhill & Co., LLC, is acting as Dealer-Manager in connection
with the Exchange Offer. Holders of the Convertible Notes may
contact Greenhill at (888) 504-7336 with any questions they may
have regarding the Exchange Offer.

"If we are unable to complete the recapitalization plan because
the minimum tender condition, which requires that at least 95% of
the aggregate principal amount of outstanding convertible notes
are validly tendered and not withdrawn in the exchange offer, is
not satisfied or waived, or less than all of the lenders under our
existing credit facility consent to entering into the amended
credit agreement, but holders of convertible notes or obligations
under our credit agreement holding, in either case, at least 2/3
in amount and more than 1/2 in number of the claims in the
applicable class vote to accept the prepackaged plan, we will seek
to accomplish the restructuring, on the same economic terms as the
recapitalization plan, by way of the prepackaged plan," the
Company said.

The lock-up and voting agreement also provides that participating
noteholders -- to the extent that they hold obligations under the
Company's existing credit agreement -- will to support the term
loan refinancing by accepting their portion of the repayment
contemplated thereby and by executing an amendment to the
Company's existing credit agreement; and vote all of their
convertible notes and obligations under the existing credit
facility in favor of the prepackaged plan, among other things.

The Company expects to reduce its debt by $323 million and
position itself for future growth.

"[U]pon the completion of the restructuring, we expect our
indebtedness to be reduced from approximately $473.7 million as of
August 2, 2009 to approximately $150.4 million at the closing of
the restructuring, consisting of $150.0 million in principal
amount of term loans under the amended credit agreement and
$0.4 million of our industrial revenue bond," the Company said.

The ABL financing contemplated by the restructuring would provide
the Company with up to $125.0 million in liquidity, subject to
availability under a borrowing base, for working capital purposes
and future expansion. Based on discussions with prospective
lenders under the ABL agreement, however, the Company expects
that, because of borrowing base constraints, initial availability
under the ABL agreement would be substantially less than the
$125.0 million commitment, and may be as low as $45.0 million.

"If we do not complete the restructuring either through the
recapitalization plan or, in the alternative, the prepackaged
plan, because the conditions to the recapitalization plan and the
prepackaged plan have not been satisfied or waived, we will face
an immediate liquidity crisis.  If we do not complete the
restructuring, we do not expect, and we cannot assure security
holders, that we will have, or have access to, sufficient
liquidity (1) to meet our debt repayment/repurchase obligations,
including any potential acceleration of our existing credit
facility, which may occur as early as November 6, 2009 (which may,
in turn, also lead to a default under, and acceleration of, our
other indebtedness, including the convertible notes indentures)
and (2) to meet our obligation to repurchase the convertible notes
at the option of the holders thereof on November 15, 2009, the
next scheduled repurchase date," the Company said.

"In the event that we experience a liquidity crisis as described
above, it could likely result in our filing for bankruptcy
protection pursuant to the Bankruptcy Code on terms other than as
contemplated by the prepackaged plan."

              Illustrative Bankruptcy Recovery Analysis

Greenhill reviewed the illustrative bankruptcy recoveries by the
Company's stockholders and creditors implied by management's
projections under various scenarios.  Greenhill applied EBITDA
multiples of 7.0x to 9.5x to forecasted EBITDA for each of 2009
and 2010 to derive an implied enterprise value range for the
Company.  The implied enterprise value range for 2009 and 2010
ranged from $253 million to $343 million and from $249 million to
$337 million, respectively.  Greenhill then subtracted the amount
of specified secured claims (the existing credit facility and
industrial revenue bonds) and unsecured claims (the convertible
notes), which resulted in potential remaining equity value per
existing share ranging from a negative $11.26 through a negative
$6.54 (i.e., no recovery).  In performing this analysis, Greenhill
assumed that the Company's cash on hand would be required to pay
bankruptcy expenses and for working capital needs and would
therefore be unavailable to pay creditors.

Based on such analysis, Greenhill observed that the enterprise
valuation of the Company would have to exceed 13.1x and 13.3x
forecasted 2009 EBITDA and forecasted 2010 EBITDA, respectively,
for current stockholders to attain any recovery under this
analysis.

A full-text copy of the Company's preliminary prospectus and
disclosure statement is available at no charge at:

               http://ResearchArchives.com/t/s?44a8

NCI Building Systems, Inc. (NYSE: NCS) is one of North America's
largest integrated manufacturers of metal products for the
nonresidential building industry.  NCI is comprised of a family of
companies operating manufacturing facilities across the United
States and Mexico, with additional sales and distribution offices
throughout the United States and Canada.


NCI BUILDING: Posts $3.97 Million Net Income for August 2 Quarter
-----------------------------------------------------------------
NCI Building Systems, Inc., last week unveiled financial results
for the third quarter ended August 2, 2009.

The Company reported net income of $3.97 million, or $0.20 per
diluted share, which included a $1.2 million restructuring charge
related to severance and plant closings.  Exclusive of this
charge, net income would have been $4.8 million, or $0.25 per
diluted share.  On the same basis, exclusive of all special
charges, the Company incurred a net loss for the 2009 second
quarter of $7.2 million, or $0.37 per diluted share.  For last
year's third quarter, the Company reported net income of
$31.9 million, or $1.63 per diluted share.

For the third quarter, sales were $238.4 million, up 6.1%
sequentially from sales of $224.7 million in the 2009 second
quarter but down 50.1% from the $477.6 million reported for last
year's third quarter.  Gross margin was 25.6%.  Selling, general
and administrative expenses declined 9.2% sequentially and 31.9%
from last year's third quarter.

As of August 2, 2009, the Company had $627.63 million in total
assets; and $624.23 million in total current liabilities and
$21.62 million in total long-term liabilities.

"We succeeded in returning to profitability in the third quarter
despite continued difficult market conditions, marked by a
significant year-over-year decline in nonresidential construction
activity in our commercial and industrial sectors," noted Norman
C. Chambers, Chairman, President and Chief Executive Officer.
"Cost reduction programs that have been implemented over the past
10 months resulted in sequential declines in the non-material
component of cost of goods sold and SG&A of 17% and 9.2%,
respectively.  Year-over-year, these expenses were down 49.7% and
31.9%, respectively.  Lower costs combined with pricing discipline
enabled us to report much improved operating results on a
sequential basis."

"Additionally, each of our business segments posted operating
profits in the third quarter, which speaks to the strength of our
market position and the efficiency of our integrated business
model," Mr. Chambers said.

                              Outlook

"We are facing continued weakness in nonresidential construction
activity, and industry forecasts do not indicate any meaningful
improvement this year or next," noted Mr. Chambers.  "Within this
challenging environment, we remain cautious, working to align our
resources with demand levels while addressing new market
opportunities and broadening our geographic reach."

"We are pleased to have achieved profitability in the third
quarter; while fourth quarter operating results will reflect our
significantly reduced cost structure, they will be affected by
revenue levels, product mix and sequential steel price trends,
which are difficult to predict at this time."

"Our recently-announced transaction with CD&R will give us the
flexibility to ride out the current economic crisis and benefit
from our strong market position and industry-leading efficiencies
once market conditions improve," Mr. Chambers said.

A full-text copy of the Company's quarterly report on Form 10-Q is
available at no charge http://ResearchArchives.com/t/s?44a9

NCI Building Systems, Inc., is one of North America's largest
integrated manufacturers of metal products for the nonresidential
building industry.  NCI is comprised of a family of companies
operating manufacturing facilities across the United States and
Mexico, with additional sales and distribution offices throughout
the United States and Canada.


NEIMAN MARCUS: Bank Debt Trades at 16.65% Off in Secondary Market
-----------------------------------------------------------------
Participations in a syndicated loan under which Neiman Marcus
Group, Inc., is a borrower traded in the secondary market at 83.35
cents-on-the-dollar during the week ended Sept. 11, 2009,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 1.03
percentage points from the previous week, The Journal relates.
The loan matures on April 6, 2013.  The Company pays 175 basis
points above LIBOR to borrow under the facility.  The bank debt
carries Moody's B3 rating and Standard & Poor's BB- rating.  The
debt is one of the biggest gainers and losers among widely quoted
syndicated loans in secondary trading in the week ended Sept. 11,
among the 154 loans with five or more bids.

Neiman Marcus Group, Inc., headquartered in Dallas, Texas,
operates 40 Neiman Marcus stores, 2 Bergdorf Goodman stores, 27
clearance centers, and a direct business.  Total revenues are
about $3.9 billion.

The Company carries a 'Caa1' Corporate Family Rating and 'Caa1'
Probability of Default Rating from Moody's Investors Service.


NEW ORIENTAL: Need for More Financing Threatens Going Concern
-------------------------------------------------------------
New Oriental Energy & Chemical Corp. posted a net loss of
$3,151,855 compared with a net income of $828,019 for the same
period in 2008.

The Company's balance sheet at June 30, 2009, showed
total assets of $62,868,751, total liabilities of $52,012,011 and
stockholders' equity of $10,856,740.

The Company said that there is substantial doubt about its ability
to continue as a going concern.  The Company noted that it had a
net loss and a working capital deficit of $35,176,647 at June 30,
2009.

The Company added that it will need to obtain additional financing
to continue operations beyond 2009.  Its primary source of capital
is cash generated from operations well as through loans. If the
Company is unable to obtain additional financing, it will not be
able to sustain its operations in their present form and would
likely be required to reduce or cease its operations.

The Company's major shareholder committed to provide financing
aid, if necessary.

On Aug. 4, 2009, the Company obtained a short-term bank loan for
$1,464,000 with an interest rate of 10.08% per annum from Xinyang
Commercial Bank, which is due on Aug. 4, 2010.  The Company's
finished goods inventory is pledged as collateral for the short-
term bank loan.

A full-text copy of the Company's Form 10-Q is available for free
at http://ResearchArchives.com/t/s?449d

New Oriental Energy & Chemical Corp. (NASDAQ:NOEC), through its
wholly owned subsidiary, Henan Jinding Chemical Co., Ltd. is
engaged in the manufacturing and distribution of fertilizer and
chemical products. The products are distributed to markets in the
People's Republic of China.  The primary business of the Company
is the manufacturing and selling of urea, a chemical used as
fertilizer for crops and in certain manufacturing process,
including the manufacturing of resin, plastic and medicine.  NOEC
is also engaged in the production and selling of methanol.  The
other products manufactured by the Company include Ammonium
Hydrogen Carbonate, which can be used as a fertilizer for crops,
and in the pharmaceutical and food industries.  In addition,
another product developed by the Company is Dimethyl Ether.  DME
has a range of industrial applications in the production of
pesticides, cosmetics and as a refrigerant.


NORTEL NETWORKS: To Present Enterprise Auction Results Tomorrow
---------------------------------------------------------------
Avaya Inc. and Siemens Communications Systems officially started
the bidding process for Nortel Networks' enterprise business on
September 11.  Avaya was the stalking horse bidder with its US$475
million offer at the auction, which was continued to September 12.

According to reports, Judge Kevin Gross denied a request by
Verizon Communications Inc. to examine Avaya officials if it wins
the auction.  Verizon had said that Avaya has contemplated on
excluding maintenance contracts with Verizon from the purchase,
which, in effect, would disrupt Verizon's services to government
agencies and offices.  Avaya, in response, has said that it is
engaged in discussions with Verizon to attempt to negotiate
suitable arrangements for the assumption of the Verizon contracts.

The assets auctioned comprise Nortel's Enterprise Solutions
business in North American, Caribbean and Latin American and
Asian region as well as a portion of their business in Europe,
Middle East and Africa.

The Debtors are scheduled to seek approval of the results of the
auction at a hearing schedule for September 15.

The Debtors have proposed to pay Avaya a $14.25 million break-up
fee in the event Nortel elects to consummate a sale with another
party.

                      About Nortel Networks

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

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

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

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

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

Several entities, particularly, Nortel Government Solutions
Incorporated 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)


NORTH MERIDIAN CENTER: Case Summary & 4 Largest Unsec. Creditors
----------------------------------------------------------------
Debtor: North Meridian Center, LLC
        PO Box 1689
        Milton, WA 98354-1689

Bankruptcy Case No.: 09-46652

Debtor-affiliates filing separate Chapter 11 petitions:

        Entity                                     Case No.
        ------                                     --------
North Meridian Place, LLC                          09-46653
Surprise Lake West, LLC                            09-46654

Chapter 11 Petition Date: September 10, 2009

Court: United States Bankruptcy Court
       Western District of Washington (Tacoma)

Judge: Philip H. Brandt

Debtor's Counsel: Noel P. Shillito, Esq.
                  Shillito & Giske PS
                  1919 N Pearl St Ste C2
                  Tacoma, WA 98406
                  Tel: (253) 572-4388
                  Email: shillito@callatg.com

Estimated Assets: $0 to $50,000

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

A full-text copy of the Debtors' petition, including a list of
their 4 largest unsecured creditors, is available for free at:

          http://bankrupt.com/misc/wawb09-46652.pdf

The petition was signed by Robert Knutsen, president of the
Company.


ORBUS PHARMA: Gets Forbearance on Debentures Until Oct. 31
----------------------------------------------------------
Orbus Pharma Inc. (ORB - TSX), announces the completion of an
arrangement for interest forbearance on the first full year of
compounded interest owing on the Convertible Debentures.

There will be forbearance on approximately $756,000 of interest
payable by Orbus to the debenture holders, which was otherwise due
on August 15, 2009, until October 31, 2009.  The terms of the
arrangement stipulate the Debenture holders will receive 2,014,000
warrants on August 16, 2009 for agreeing to the forbearance.  The
warrants are exercisable for one common share of Orbus with the
exercise price for the warrants equal to the volume weighted
average trading price for 5 trading days prior to the date of
issuing the warrants which is $0.0534 per share.  The debenture
holders are entitled to exercise the warrants on or before August
15, 2011, the effective maturity date of the Convertible
Debenture.

The provision by the Debenture Holders of interest forbearance is
a related party transaction under Multilateral Instrument 61-101
Protection of Minority Security Holders in Special Transactions.
The transaction is exempt from the valuation and majority of the
minority approval requirements of MI 61-101, as at the time the
transaction was agreed to the fair market value as determined
under the instrument was less than 25% of the market
capitalization.  The interest forbearance has been approved by all
of the directors who are independent as determined pursuant to
Part 7 of MI 61-101 and has been accepted by the Toronto Stock
Exchange.

A material change report will be filed by Orbus after closing, and
not 21 days before closing, to accommodate the closing of the
issuance of the warrants as soon as possible following receipt of
the Toronto Stock Exchange acceptance.

Orbus Pharma Inc., headquartered in Markham, Ontario and listed on
the Toronto Stock Exchange under the symbol ORB, is pursuing an
integrated global strategy of: (1) generic drug development, using
proprietary delivery systems for certain products; (2) product
out-licensing; and (3) pharmaceutical manufacturing. For more
information, please visit http://www.orbus.c/


PAETEC HOLDING: Board Approves Stock Repurchase Program
-------------------------------------------------------
PAETEC Holding Corp.'s Board of Directors has authorized a new
stock repurchase program that would allow the company to
repurchase up to $25 million of the company's outstanding common
stock through December 31, 2010.

PAETEC may repurchase shares from time to time, at PAETEC's
discretion, on the open market or in private transactions.  The
repurchase program does not obligate PAETEC to repurchase any
specific number of shares and may be modified or discontinued at
any time.

The Board of Directors has fixed the size of the program at
roughly the maximum amount permitted under PAETEC's debt
agreements for the period indicated assuming future compliance
with applicable covenants.  The Company's previous stock
repurchase program expired in August 2009.

                       About PAETEC Holding

PAETEC Holding Corp., through its subsidiaries, provides
integrated communications services, including local and long
distance voice, data, and broadband Internet access services,
primarily to business and institutional customers.  On February 8,
2008, PAETEC Holding completed its combination by merger with
McLeodUSA Incorporated, which became a wholly owned subsidiary of
PAETEC Holding upon completion of the merger.

As of June 30, 2009, PAETEC had in service 223,311 digital T1
transmission lines, which represented the equivalent of 5,359,464
access lines, for over 47,000 business customers in a service area
encompassing 82 of the country's top 100 metropolitan statistical
areas.

As of June 30, 2009, the Company had $1,453,905,000 in total
assets and $1,259,830,000 in total liabilities.

Effective on June 1, 2009, the Company entered into a Second
Amendment and Waiver to its Credit Agreement with its lenders
which amends the Credit Agreement, dated as of February 28, 2007,
and amended as of June 27, 2007.  The Amendment grants the Company
the right, at its option and subject to specified conditions,
voluntarily to prepay term loans outstanding under its term loan
facilities at any time and from time to time during a period
beginning on the effective date of the Amendment and ending 18
months after such effective date.  The total cash payments to be
made by the Company in connection with such voluntary prepayments
may not exceed $100,000,000, excluding amounts applied to the
payment of accrued and unpaid interest and fees.

The Amendment also modifies some of the restrictive covenants in
the Credit Agreement primarily to permit the Company to issue
senior secured notes and to allow the Company and its subsidiaries
to incur indebtedness and related obligations under such notes if
specified conditions are satisfied.

                           *     *     *

As reported by the Troubled Company Reporter on June 18, 2009,
Standard & Poor's Ratings Services assigned PAETEC Holding's
proposed senior secured notes due 2017 an issue-level rating of
'B' (the same as the corporate credit rating) with a recovery
rating of '3', indicating expectations for meaningful (50%-70%)
recovery in the event of payment default.  At the same time, S&P
affirmed all other ratings on PAETEC, including the 'B' corporate
credit rating.  The outlook is stable.

Moody's Investors Service assigned a B1 rating to the senior
secured note issuance.  Moody's affirmed all other ratings,
including the SGL-1 liquidity rating.  The rating outlook remains
stable.


PETCO ANIMAL: Bank Debt Trades at 4% Off in Secondary Market
------------------------------------------------------------
Participations in a syndicated loan under which PETCO Animal
Supplies Stores, Inc., is a borrower traded in the secondary
market at 96.08 cents-on-the-dollar during the week ended
Sept. 11, 2009, according to data compiled by Loan Pricing Corp.
and reported in The Wall Street Journal.  This represents an
increase of 0.46 percentage points from the previous week, The
Journal relates.  The loan matures on Sept. 26, 2013.  The Company
pays 200 basis points above LIBOR to borrow under the facility.
The bank debt carries Moody's B1 rating and Standard & Poor's B+
rating.  The debt is one of the biggest gainers and losers among
widely quoted syndicated loans in secondary trading in the week
ended Sept. 11, among the 154 loans with five or more bids.

The Troubled Company Reporter said on June 29, 2009, that Moody's
affirmed PETCO Animal Supplies Stores, Inc.'s Corporate Family
Rating at B2; Probability of Default Rating at B2; $686 million
senior secured term loan due 2013 at B1 (LGD 3, 33%)., and changed
the outlook to stable from negative.

PETCO Animal Supplies Inc., headquartered in San Diego,
California, is a specialty retailer of premium supplies, food and
services for household pets.  The company operates about 1,000
stores in all 50 U.S. states.  Revenues were about $2.6 billion
for the last twelve months ending May 2, 2009.


PETER SHAW: Voluntary Chapter 11 Case Summary
---------------------------------------------
Joint Debtors: Peter W. Shaw
               Jean E. Shaw
               1 Bow Road
               Wayland, MA 01778

Bankruptcy Case No.: 09-18648

Chapter 11 Petition Date: September 10, 2009

Court: United States Bankruptcy Court
       District of Massachusetts (Boston)

Judge: Frank J. Bailey

Debtors' Counsel: Timothy M. Mauser, Esq.
                  Law Office of Timothy Mauser
                  Suite 420, One Center Plaza
                  Boston, MA 02114
                  Tel: (617) 338-9080
                  Fax: (617) 275-8990
                  Email: tmauser@mauserlaw.com

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

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

The Debtors did not file a list of their 20 largest unsecured
creditors when they filed their petition.

The petition was signed by the Joint Debtors.


PNG VENTURES: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: PNG Ventures, Inc., a Nevada Corporation
           fka Telecommunications Technologies, Ltd.
           fka Paper Computer Corp.
           fka Paper Computer.com, Inc.
        5310 Harvest Hill Road, Suite 229
        Dallas, TX 75230

Case No.: 09-13162

Debtor-affiliates filing separate Chapter 11 petitions:

        Entity                                     Case No.
        ------                                     --------
New Earth LNG, LLC, a Delaware Corporation         09-13160
Applied LNG Technologies USA, LLC, a Delaware Corp 09-13163
Arizona LNG, LLC, a Nevada Corporation             09-13164
Earth Leasing, Inc., a Texas Corporation           09-13165
Fleet Star, Inc., a Delaware Corporation           09-13166

Chapter 11 Petition Date: September 10, 2009

Court: United States Bankruptcy Court
       District of Delaware (Delaware)

Judge: Christopher S. Sontchi

Debtor's Counsel: Hal L. Baume, Esq.
                  Fox Rothschild LLP
                  997 Lenox Drive, Building 3
                  Lawrenceville, NJ 08648
                  Tel: (609) 895-3302
                  Fax: (609) 896-1469
                  Email: hbaume@foxrothschild.com

                  L. Jason Cornell, Esq.
                  Fox Rothschild LLP
                  919 N. Market Street, Suite 1300
                  P.O. Box 2323
                  Wilmington, DE 19899-2323
                  Tel: (302) 654-7444
                  Fax: (302) 656-8920
                  Email: jcornell@foxrothschild.com

Debtor's claims
and notice agent: Logan & Co.

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

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

The petition was signed by Cem Hacioglu, the company's
CEO/president.

PNG Ventures' List of 20 Largest Unsecured Creditors:

  Entity                       Nature of Claim        Claim Amount
  ------                       ---------------        ------------
Shell Energy North America     Fax: 713-265-2751      $1,696,000
909 Fannin
Plaza One Level
Attn: Jim McPherson
Houston, TX 77002

El Paso Natural Gas            Fax: 719-520-4656      $1,023,446
PO Box 1087                    Attn: Nina Knapp
Colorado Springs, CO 80944

Kelly Group, et al.            Fax: 806-355-5679      $950,000

Blecher & Collins PC           Fax: 213-622-4222      $377,109
515 South Figueroa St.         Attn: Maryann Marzano
Ste. 1750
Los Angeles, CA 90071

Hodgson Russ, LLP              Fax: 212-751-4300      $290,085
1540 Broadway, 24th Fl.        Attn: Ron Levy
New York, NY 10036

Chattanooga (AGL Resources)    Fax: 404-584-4000      $188,000

Specialty Trailer Leasing      Fax: 806-355-5679      $49,528

Discovery Economics            Fax: 213-621-7780      $25,200
                               Attn: George Miller

NGV America                    Fax: 202-824-7366      $17,500

Veritext Los Angeles           Fax: 800-801-9148      $11,558
Reporting Co.

Ruden McClosky                 Fax: 813-314-6973      $6,561

Arizona Department of Revenue  Fax: 602-255-2060      $5,357

San Bernadino County Fire      Fax: 909-387-5542      $432
Protection Dt.

Anhhydride Petroleum           Fax: 403-263-9812      Unknown
(Canada) Inc.

California Board               Fax: 916-227-6641      Unknown
of Equalization

Golden Spread Energy, Inc.     Fax: 806-355-5679      Unknown

Jack B. Kelly, Inc.            Fax: 806-355-5679      Unknown
                               Attn: Mark Davis

JBK Trucking                   Fax: 806-355-5679      Unknown

Ken Kelley                     Fax: 806-355-5679      Unknown

Oilsands Quest, Inc.                                  Unknown
fka CanWest Petroleum
fka Uranium Power Co


REALOGY CORP: Bank Debt Trades at 23% Off in Secondary Market
-------------------------------------------------------------
Participations in a syndicated loan under which Realogy
Corporation is a borrower traded in the secondary market at 77.00
cents-on-the-dollar during the week ended Sept. 11, 2009,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 068
percentage points from the previous week, The Journal relates.
The loan matures on Sept. 30, 2013.  The Company pays 225 basis
points above LIBOR to borrow under the facility.  The bank debt
carries Moody's Caa1 rating and Standard & Poor's CCC- rating.
The debt is one of the biggest gainers and losers among widely
quoted syndicated loans in secondary trading in the week ended
Sept. 11, among the 154 loans with five or more bids.

Realogy Corporation is one of the largest real estate service
companies in the United States with reported revenues of about
$4.7 billion for the year ended Dec. 31, 2008.  Realogy was
incorporated in January 2006 to facilitate a plan by Cendant
Corporation to separate Cendant into four independent companies -
one for each of Cendant's real estate services, travel
distribution services, hospitality services (including timeshare
resorts), and vehicle rental businesses.  The separation became
effective July 2006.

Headquartered in Parsippany, N.J., Realogy is owned by affiliates
of Apollo Management, L.P., a leading private equity and capital
markets investor.  Realogy fully supports the principles of the
Fair Housing Act.

At March 31, 2009, Realogy had $8.62 billion in total assets,
$9.62 billion in total liabilities, and $997 million in
stockholders' deficit.

Moody's Investors Service on December 19, 2008, lowered its
corporate family rating on Realogy to Caa3 from Caa2 following the
company's withdrawal of an exchange offer to holders of its senior
unsecured cash pay, unsecured toggle and subordinated notes.  As
reported by the Troubled Company Reporter on March 3, 2009,
Moody's said Realogy's announcement that its private equity
sponsor, Apollo Management, L.P., may invest up to $150 million in
the company during fiscal 2009 will have no immediate impact on
Realogy's credit ratings, liquidity rating or the negative rating
outlook.

Realogy carries 'CC' issuer credit ratings from Standard & Poor's.


REVLON INC: Bank Debt Trades at 6% Off in Secondary Market
----------------------------------------------------------
Participations in a syndicated loan under which Revlon, Inc., is a
borrower traded in the secondary market at 94.00 cents-on-the-
dollar during the week ended Sept. 11, 2009, according to data
compiled by Loan Pricing Corp. and reported in The Wall Street
Journal.  This represents an increase of 0.50 percentage points
from the previous week, The Journal relates.  The loan matures on
Dec. 20, 2011.  The Company pays 400 basis points above LIBOR to
borrow under the facility.  The bank debt carries Moody's B1
rating and Standard & Poor's B rating.  The debt is one of the
biggest gainers and losers among widely quoted syndicated loans in
secondary trading in the week ended Sept. 11, among the 154 loans
with five or more bids.

Headquartered in New York City, Revlon, Inc. (NYSE: REV) --
http://www.revloninc.com/-- is a worldwide cosmetics, hair color,
beauty tools, fragrances, skincare, anti-perspirants/deodorants
and personal care products company.  The Company's brands, which
are sold worldwide, include Revlon(R), Almay(R), Mitchum(R),
Charlie(R), Gatineau(R), and Ultima II(R).

At March 31, 2009, Revlon Inc. had $784,700,000 in total assets;
$300,900,000 in total current liabilities, $1,183,600,000 in long-
term liabilities, $107,000,000 in long-term debt of affiliates,
$222,900,000 in long-term pension and other post-retirement plan
liabilities, and $65,400,000 in other long-term liabilities;
resulting in $1,095,100,000 in stockholders' deficit.


REVLON INC: Extends Exchange Offer Until September 17
-----------------------------------------------------
Revlon, Inc., has extended the expiration date of its exchange
offer, in which each issued and outstanding share of Revlon Class
A common stock may be exchanged on a voluntary basis for one share
of a newly-issued series of Revlon preferred stock.

The deadline for tendering shares of Revlon Class A common stock
in exchange for shares of Revlon preferred stock has been extended
from 5:00 p.m., New York City time, on September 10, 2009 to 5:00
p.m., New York City time, on September 17, 2009, unless further
extended.

The Company has been advised that as of 5:00 p.m. New York City
time on September 10, 2009, approximately 8,436,516 shares of
Revlon Class A common stock had been tendered in the Exchange
Offer.

Revlon filed with the Securities and Exchange Commission Amendment
No. 5 to its Tender Offer Statement and Schedule 13E-3 Transaction
Statement on Schedule TO filed on August 10, 2009, as amended,
relating to its offer to exchange each share of Revlon's Class A
common stock, par value $0.01 per share for one share of Revlon's
newly issued Series A preferred stock, par value $0.01 per share.
Amendment No. 5 was filed solely for to announce the extension of
the Exchange Offer.

                          About Revlon

Revlon Inc. -- http://www.revloninc.com/-- is a worldwide
cosmetics, hair color, beauty tools, fragrances, skincare, anti-
perspirants/deodorants and beauty care products company.  Revlon
Inc. conducts its business exclusively through its direct wholly
owned operating subsidiary, Revlon Consumer Products Corporation,
and its subsidiaries.  Revlon is a direct and indirect majority
owned subsidiary of MacAndrews & Forbes Holdings Inc., a
corporation wholly-owned by Ronald O. Perelman.  The Company's
brands, which are sold worldwide, include Revlon(R), Almay(R),
ColorSilk(R), Mitchum(R), Charlie(R), Gatineau(R), and Ultima
II(R).

At June 30, 2009, Revlon had $797.4 million in total assets; and
$326.4 million in total current liabilities, $1.15 billion in
long-term debt, $107.0 million in long-term debt by affiliates,
$213.8 million in long-term pension and other post-retirement plan
liabilities, $66.6 million in other long-term liabilities;
resulting in $1.07 billion in stockholders' deficiency.


RHODE ISLAND: Tentative Deal With Unions to Stop State Shutdown
---------------------------------------------------------------
Rhode Island Gov. Don Carcieri has reached a tentative two-year
deal with several labor unions, which the two parties say would
prevent the state government's shutdown and the layoff of 1,000
state workers, The Associated Press reports.

The AP relates that the agreement, which is aimed at helping close
a $68 million shortfall in the state budget, requires workers to
lose eight days of pay before the fiscal year ending in June, and
four more the following year.  State workers will still vote on
the deal, says the report.

According to The AP, Gov. Carcieri had planned to shut down the
government for 12 days to help close the budget gap, but a state
Supreme Court judge temporarily halted the plan.  Gov. Carcieri,
The AP relates, said that he would be forced to lay off 1,000
state workers.

Citing officials, The AP states that under tentative pact reached
with the unions as part of the deal, Gov. Carcieri wouldn't shut
down government or lay people off in the next two fiscal years.
The AP relates that a 3% pay raise due in July will be delayed
until January 2011.  The AP says that state workers would get more
vacation time and can get paid for some lost days when they
retire.

The unions had sought to Gov. Carcieri's planned closure of the
state government in the state Supreme Court, The AP reports.  The
AP states that since both sides reached a tentative deal, the
court delayed further deliberations on the case until October 3
and extended an earlier order preventing Gov. Carcieri from
shutting down state government.


RICK ROSE: Case Converted to Ch. 7; Bank Wants Rockliffe Mansion
----------------------------------------------------------------
Ann Pierceall at Herald-Whig reports that Judge Stephen V.
Callaway of the U.S. Bankruptcy Court for Western Louisiana in
Shreveport has converted Rick Rose's Chapter 13 case, which
commenced April 30, to Chapter 7 liquidation.  According to the
report, the conversion means Mr. Rose now faces liquidation of his
non-exempt property to pay off his creditors, rather than
reorganization of his personal finances and paying off his debt
over time.

Mr. Rose's properties include the Rockcliffe mansion.  Palmyra
State Bank filed a motion on Aug. 5 asking for the conversion or
removal of the stay prohibiting action on the mansion.  The bank
provided Rose with a $325,000 loan on June 16, 2005, to buy
Rockcliffe Mansion. Raible and Brown Insurance of Hannibal is
listed as the holder of a second mortgage of $60,000 on
Rockcliffe.

Rockcliffe Mansion is on the National Register of Historic Places.
Originally known as the Cruikshank Mansion, it was built by the
J.J. Cruikshank family between 1898 and 1900 for a then-staggering
$250,000.


SECURITY BENEFIT: S&P Retains Negative CreditWatch on 'BB' Rating
-----------------------------------------------------------------
Standard & Poor's Ratings Services said that its 'BB' counterparty
credit and financial strength ratings on Security Benefit Life
Insurance Co. and its affiliate, FirstSecurity Benefit Life
Insurance and Annuity Co. of New York, remain on CreditWatch,
where they were placed on June 9, 2009, with negative
implications.

"We had placed the ratings on CreditWatch negative to reflect
S&P's concerns about capital pressures at SBLIC," explained
Standard & Poor's credit analyst Adrian Pask.  In the second
quarter of 2009, SBLIC's total adjusted capital was $308 million,
an increase from the prior quarter but a reduction from
$326 million at the prior year end.  In the first half of 2009,
SBLIC had statutory net income of $3.4 million and operating
income of $26.8 million.  Slowing annuity sales and continued
asset-related losses were factors in the poor earnings performance
in the first quarter.  In the second quarter, earnings stabilized,
but the aggregate earnings for the first six months of the year
were below S&P's expectations for the rating.

"We intend to evaluate the company's plans to address its capital
pressures," Mr. Pask added.  "We will resolve the CreditWatch
status of the ratings following further analysis."


SERVICE MASTER: Bank Debt Trades at 12.84% Off in Secondary Market
------------------------------------------------------------------
Participations in a syndicated loan under which The ServiceMaster
Co. is a borrower traded in the secondary market at 87.16 cents-
on-the-dollar during the week ended Sept. 11, 2009, according to
data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents an increase of 1.82 percentage
points from the previous week, The Journal relates.  The loan
matures on July 24, 2014.  The Company pays 300 basis points above
LIBOR to borrow under the facility.  The bank debt carries Moody's
B1 rating and Standard & Poor's B+ rating.  The debt is one of the
biggest gainers and losers among widely quoted syndicated loans in
secondary trading in the week ended Sept. 11, among the 154 loans
with five or more bids.

The ServiceMaster Co. -- http://www.servicemaster.com/-- serves
residential and commercial customers through a network of over
5,500 company-owned locations and franchised licenses.  The
Company's brands include TruGreen, TruGreen LandCare, Terminix,
American Home Shield, ServiceMaster Clean, Merry Maids, Furniture
Medic, and AmeriSpec. The core services of the Company include
lawn care and landscape maintenance, termite and pest control,
home warranties, disaster response and reconstruction, cleaning
and disaster restoration, house cleaning, furniture repair, and
home inspection.


SFK PULP: S&P Affirms 'CCC+' Long-Term Corporate Credit Rating
--------------------------------------------------------------
Standard & Poor's Ratings Services said it removed all the ratings
on Longueuil, Quebec-based SFK Pulp Fund from CreditWatch with
negative implications, where they were placed April 22, 2009.  At
the same time, S&P affirmed its 'CCC+' long-term corporate credit
and senior secured debt ratings on the company.  The outlook is
negative.

The '3' recovery rating on SFK's senior secured debt is unchanged,
indicating S&P's opinion as to an expectation of meaningful
recovery (50%-70%) in the event of default.

"We removed the ratings from CreditWatch based on SFK's recent
virgin fiber supply agreement and amendment of the company's
credit agreement, which S&P believes addresses near-term liquidity
risks," said Standard & Poor's credit analyst Jatinder Mall.
"However, given weak demand for pulp and higher operating costs,
the company will likely experience weak cash flow generation in
the next several quarters," Mr. Mall added.

The ratings on SFK reflect what S&P view as the company's
participation in the highly cyclical, fragmented, and competitive
global pulp industry; exposure to volatile pulp prices, exchange
rates, and fiber, energy, and chemical costs; high debt leverage;
and increasing competition from low-cost South American pulp
producers.  These weaknesses are partially offset, in Standard &
Poor's opinion, by the company's high degree of energy self-
sufficiency at its St. Felicien, Que., pulp mill and some product
and operational diversity.

SFK is a small pulp producer that owns and operates one softwood
pulp mill and two recycled bleached kraft pulp mills.

The negative outlook reflects Standard & Poor's expectations that
SFK's financial performance will remain weak in the near term due
to what S&P believes will be poor pulp market conditions in the
next 12 months.  S&P would likely lower the ratings if lower
profitability and an accelerated free cash burn, along with a weak
pulp and lumber market outlook, contributed to liquidity declining
below C$20 million-C$25 million.  A revision of the outlook to
stable would require an improvement in industry conditions, such
that operating profitability improved to a level that would result
in EBITDA interest coverage above 1.5x on a sustained basis, which
S&P believes would ensure the company could generate some free
cash flow in a full-year working-capital cycle.


SHUMATE INC: Case Summary & 8 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Shumate, Inc.
        3305 West 19th Avenue
        Kennewick, WA 99337

Case No.: 09-05079

Debtor-affiliates filing separate Chapter 11 petitions:

        Entity                                     Case No.
        ------                                     --------
John Michial Shumate and Jennifer D. Shumate       09-05078
Shumate Tri-City, LLC                              09-05080
Shumate Spokane, LLC                               09-05081

Chapter 11 Petition Date: September 9, 2009

Court: United States Bankruptcy Court
       Eastern District Of Washington (Spokane/Yakima)

Judge: Frank L. Kurtz

Debtor's Counsel: Barry W. Davidson, Esq.
                  Davidson Backman Medeiros PLLC
                  601 West Riverside Avenue, Suite 1550
                  Spokane, WA 99201
                  Tel: (509) 624-4600
                  Fax: (509) 623-1660
                  Email: cnickerl@dbm-law.net

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

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

The petition was signed by John Michial Shumate, the company's
president.

Shumate Inc.'s List of 8 Largest Unsecured Creditors:

  Entity                       Nature of Claim        Claim Amount
  ------                       ---------------        ------------
American Honda Finance Corp.                          $455,342
PO Box 2295
Torrance, CA 90509-2295

Bank of the West                                      $221,785

Columbia River Bank                                   $700,000
139 Gage Boulevard
Richland, WA 99352

GE Capital Franchise Finance                          $4,100,000
Corp.
Attn: Collateral Management
8377 East Hartford Drive
Ste. 200
Scottsdale, AZ 85255

GE Commercial Distribution                            $762,405
Finance Corporation
PO Box 105040
Atlanta, GA 30348-5040

Harley-Davidson Credit Corp.                          $5,269,686
Attention: General Counsel
1179 Fairview Drive, Suite G
Carson City, NV 89701

Kawasaki Motors Finance Corp.                         $472,422
PO Box 25301
Santa Ana, CA 92799

Vandervert Developments, LLC   Rental arrears,        $25,000
                               late fees, interest,
                               damages, attorney's
                               fees and costs


SIMMONS CO: Lenders Extend Forbearance Period Through September 30
------------------------------------------------------------------
Effective September 11, 2009, Simmons Bedding Company, a
subsidiary of Simmons Company, entered into:

     (i) the Sixth Amendment to Second Forbearance Agreement and
         Ninth Amendment to the Second Amended and Restated Credit
         and Guaranty Agreement with a majority of its senior
         lenders; and

    (ii) Amendment No. 6 to the Forbearance Agreement to the
         Indenture with a majority of the holders of its
         $200.0 million 7.875% senior subordinated notes,

pursuant to which the forbearance periods under both of the
forbearance agreements are extended from September 11, 2009
through September 30, 2009.

Since September 27, 2008, Simmons Bedding has not been in
compliance with certain covenants of its $540.0 million senior
credit facility.  After being unable to obtain a waiver or an
amendment from its senior lenders to its senior credit facility,
Simmons Bedding entered into an initial and subsequent forbearance
agreement with a majority of its senior lenders pursuant to which
the senior lenders agreed to refrain from enforcing their
respective rights and remedies under the senior credit facility
through March 31, 2009, subject to earlier termination in some
circumstances.  Simmons Bedding entered into amendments to the
forbearance agreement with its senior lenders on March 25, 2009,
May 27, 2009, June 30, 2009, and August 14, 2009, whereby the
senior lenders extended their forbearance period through May 31,
2009, June 30, 2009, August 14, 2009, and August 31, 2009,
respectively.

On January 15, 2009, and July 15, 2009, Simmons Bedding did not
make its scheduled interest payments due on its Subordinated Notes
resulting in defaults under the indenture governing the
Subordinated Notes.  On February 14, the default associated with
the failure to pay the interest due on January 15 matured into an
event of default, which gave the holders of the Subordinated Notes
the right to declare the full amount of the Subordinated Notes
immediately due and payable.  On February 4, Simmons Bedding and a
majority of the outstanding Subordinated Notes holders entered
into a forbearance agreement, pursuant to which such noteholders
agreed to refrain from enforcing their respective rights and
remedies under the Subordinated Notes and the related indenture
through March 31, 2009.  Simmons Bedding entered into amendments
to the forbearance agreement with a majority of the Subordinated
Notes holders on March 25, 2009, May 27, 2009, June 30, 2009, and
August 14, 2009, whereby the noteholders extended their
forbearance period through May 31, 2009, June 30, 2009, August 14,
2009, and August 31, 2009, respectively.

Pursuant to the terms of the forbearance agreement, the
noteholders party to the forbearance agreement have the obligation
to take any actions that are necessary to prevent an acceleration
of the payments due under the Subordinated Notes during the
forbearance period.  Because the noteholders party to the
forbearance agreement represents a majority of the Subordinated
Notes, they have the power under the indenture to rescind any
acceleration of the Subordinated Notes by either the trustee or
the minority holders of the Subordinated Notes.

As a condition to the forbearance agreement with Simmons Bedding's
senior lenders, the Company initiated a restructuring process in
December 2008.  A special committee of independent directors was
formed by the board of directors on January 23, 2009, to evaluate
and oversee proposals for restructuring the Company's debt
obligations, including seeking additional debt or equity capital
and evaluating various strategic alternatives, including a
possible sale of Simmons Bedding, Bedding Holdco, Holdings,
Bedding Superholdco or any of our affiliates or assets.  There can
be no assurance that the Company will be successful in
implementing a restructuring or any other strategic alternatives.

If the Company is unable to successfully complete a restructuring,
comply with the terms of the forbearance agreements, or extend the
forbearance periods as needed to successfully complete a
restructuring, Simmons Bedding's payment obligations under the
senior credit facility and the Subordinated Notes may be
accelerated.  If there is an acceleration of payments or default
under the senior credit facility or Subordinated Notes, then
Holdings would be in default under its Discount Notes and Bedding
Superholdco would be in default under its $300.0 million senior
unsecured loan Toggle Loan.  The Company would not have the
ability to repay any amounts accelerated under its various debt
obligations without obtaining additional equity or debt financing.
An acceleration of payments or default could result in a voluntary
filing of bankruptcy by, or the filing of an involuntary petition
for bankruptcy against, Simmons Bedding, Bedding Holdco, Holdings,
Bedding Superholdco or any of their affiliates.  Due to the
possibility of such circumstances occurring, the Company is
seeking a negotiated restructuring, including a restructuring of
its debt obligations or sale of Simmons Bedding, Bedding Holdco,
Holdings, Bedding Superholdco or any of their affiliates or
assets, which could occur pursuant to a pre-packaged, pre-arranged
or voluntary bankruptcy filing.  Any bankruptcy filing could have
a material adverse effect on the Company's business, financial
condition, liquidity and results of operations.  The
considerations above raise substantial doubt about the Company's
ability to continue as a going concern.

As of June 27, 2009, the Company had $895.9 million in total
assets and $1.26 million in total liabilities, resulting in
stockholder's deficit of $367.5 million.

The Company incurred restructuring expenses in the quarter and
six months ended June 27, 2009 aggregating $6.6 million and
$13.9 million, respectively.

                   About Simmons Bedding Company

Atlanta-based Simmons Bedding Company -- http://www.simmons.com/
-- is one of the world's largest mattress manufacturers,
manufacturing and marketing a broad range of products including
Beautyrest(R), Beautyrest Black(R), Beautyrest Studio(TM),
BeautySleep(R), ComforPedic by Simmons(TM), Natural Care(R) and
Beautyrest Beginnings(TM). Simmons Bedding operates 19
conventional bedding manufacturing facilities and two juvenile
bedding manufacturing facilities across the United States, Canada
and Puerto Rico.  Simmons Bedding also serves as a key supplier of
beds to many of the world's leading hotel groups and resort
properties.


SMURFIT-STONE: Makes Voluntary $250MM Prepayment on JPMorgan Loan
-----------------------------------------------------------------
Smurfit-Stone Container Enterprises, Inc., on September 9, 2009,
made a voluntary $250 million prepayment on the $400 million U.S.
term loan under the Credit Agreement entered into on January 28,
2009, between SSCE, Smurfit-Stone Container Corporation and
certain of its affiliates and JPMorgan Chase Bank, N.A., as
administrative agent and collateral agent, JPMorgan Chase Bank,
N.A., Toronto Branch, as Canadian administrative agent and
Canadian collateral agent, and the lenders from time to time party
thereto, as amended and restated.

The DIP Credit Agreement provides for borrowings up to an
aggregate committed amount of $750 million consisting of the
$400 million U.S. term loan for borrowings by SSCE; a $35 million
Canadian term loan for borrowings by Smurfit-Stone Container
Canada Inc.; a $215 million U.S. revolving credit facility for
borrowings by SSCE and/or SSC Canada; a $35 million U.S. revolving
credit and letter of credit facility for borrowings by SSCE and/or
SSC Canada; and a $65 million Canadian revolving credit and letter
of credit facility for borrowings by SSCE and/or SSC Canada.

Following the prepayment, there will be roughly $137 million
outstanding under the U.S. term loan and $35 million under the
Canadian term loan under the DIP Credit Agreement, and the Company
will have available liquidity, including cash, of roughly
$800 million.  The Company continues to have zero borrowings
outstanding under both the U.S. revolving credit facility and the
Canadian revolving credit facility under the DIP Credit Agreement.
Smurfit-Stone Container Canada, Inc. entered into an agreement for
the sale of its Canadian timberlands and expects to close the
transaction by mid-September, resulting in a pre-payment of
roughly US$27 million of the Canadian term loan under the DIP
Credit Agreement and leaving a balance of roughly $8 million under
this facility.

On September 9, 2009, the United States Bankruptcy Court in
Wilmington, Delaware granted approval to extend for 120 additional
days the exclusive period in which the Company and its
subsidiaries can file a plan of reorganization with the Court, to
January 21, 2010, and granted approval for the Company and its
subsidiaries to solicit acceptance of a plan of reorganization
until March 23, 2010.

                       About Smurfit-Stone

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 roughly
21,250 employees, 17,400 of which are based in the United States.
For the quarterly period ended September 30, 2008, the Company
reported roughly $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)


SONIC AUTOMOTIVE: Delays Effective Date of Registration Statement
-----------------------------------------------------------------
Sonic Automotive, Inc., filed Amendment No. 1 to its Form S-3
Registration Statement to delay the Registration Statement's
effective date until the Company files a further amendment which
specifically states that the registration statement will
thereafter become effective in accordance with Section 8(a) of the
Securities Act of 1933, as amended, or until the registration
statement will become effective on such date as the SEC, acting
pursuant to said Section 8(a), may determine.

As reported by the Troubled Company Reporter on August 27, 2009,
Sonic Automotive filed the Registration Statement in connection
with its plan to periodically offer to sell debt securities, Class
A common stock, preferred stock, warrants to purchase Class A
common stock and guarantees by its subsidiaries of its debt
securities.

The aggregate initial offering price of the securities that the
Company offers pursuant to the prospectus will not exceed
$500,000,000.  The prospectus provides investors with a general
description of the securities that may be offered.  Each time the
Company offers securities for sale, it will provide specific terms
of those securities, and the manner in which they are being
offered, in a supplement to the prospectus.

A full-text copy of the Prospectus is available at no charge at:

                http://ResearchArchives.com/t/s?4320

                       About Sonic Automotive

Sonic Automotive, Inc., headquartered in Charlotte, North
Carolina, is one of the largest automotive retailers in the United
States.  As of June 30, 2009, it operated 154 dealership
franchises, representing 31 different brands of cars and light
trucks, at 131 locations and 30 collision repair centers in 15
states.  Its dealerships provide comprehensive services including
sales of both new and used cars and light trucks, sales of
replacement parts, performance of vehicle maintenance,
manufacturer warranty repairs, paint and collision repair
services, and arrangement of extended service contracts,
financing, insurance and other aftermarket products for customers.

                           *     *     *

According to the Troubled Company Reporter on May 25, 2009,
Moody's Investors Service downgraded to Caa1 from B2 the Corporate
Family rating of Sonic Automotive Holdings, Inc., and upgraded the
probability of default rating to Caa1 from Caa3.  The outlook is
negative.


SPANSION INC: Unit Closes Sale of Suzhou Facility to Powertech
--------------------------------------------------------------
Spansion LLC, a wholly owned subsidiary of Spansion Inc., on
September 8, 2009, completed the sale of its assembly, mark, test
and pack facility located in Suzhou, China, and other related
assets owned by Spansion LLC pursuant to the Asset and Share
Purchase Agreement, dated August 21, 2009, between Spansion LLC
and Powertech Technology Inc., a company organized under the laws
of the Republic of China (Taiwan).

Pursuant to the terms of the Purchase Agreement, Spansion LLC
sold:

     (i) all issued and outstanding ordinary shares of its wholly
         owned subsidiary, Spansion Holdings (Singapore) Pte.
         Ltd., a company organized under the laws of the Republic
         of Singapore, which in turn owns all registered capital
         of Spansion (China) Limited, a wholly foreign-owned
         enterprise organized under the laws of the People's
         Republic of China and the entity that owns the Suzhou
         Facility; and

    (ii) certain assembly, mark and pack equipment and tooling and
         other assets related to the Suzhou Facility that is owned
         directly by Spansion LLC.

The Bankruptcy Court for the District of Delaware entered an order
approving the sale of the Purchased Assets on September 4, 2009.

In consideration for the Purchased Assets, PTI delivered to
Spansion LLC a promissory note for roughly $27.7 million, which
requires three scheduled installment payments of roughly
$9.2 million to be made by PTI to Spansion LLC on each of the
60th, 120th and 180th days following the Closing Date.  In
addition, upon PTI's obtaining approval from the Investment
Commission of the Ministry of Economic Affairs of the Republic of
China (Taiwan), PTI will pay to Spansion LLC cash in the amount of
$12.6 million, of which $6 million will be placed into an escrow
account for a one-year period.

PTI has informed Spansion that it expects to obtain the Investment
Commission's approval in September 2009.  At the expiration of the
one-year escrow period, cash remaining in the escrow account not
previously distributed, or reserved for distribution, to PTI
pursuant to the terms of the Purchase Agreement will be delivered
to Spansion LLC.  The Shares will be also held in escrow and one-
third of the Shares will be distributed to PTI upon Spansion LLC's
receipt of each installment payment made pursuant to the
Promissory Note.

                       About Spansion Inc.

Spansion Inc. (NASDAQ: SPSN) -- http://www.spansion.com/-- is a
Flash memory solutions provider, dedicated to enabling, storing
and protecting digital content in wireless, automotive,
networking and consumer electronics applications.  Spansion,
previously a joint venture of AMD and Fujitsu, is the largest
company in the world dedicated exclusively to designing,
developing, manufacturing, marketing, selling and licensing Flash
memory solutions.

Spansion Inc., Spansion LLC, Spansion Technology LLC, Spansion
International, Inc., and Cerium Laboratories LLC filed voluntary
petitions for Chapter 11 on March 1, 2009 (Bankr. D. Del. Lead
Case No. 09-10690).  On February 9, 2009, Spansion's Japanese
subsidiary, Spansion Japan Ltd., voluntarily entered into a
proceeding under the Corporate Reorganization Law (Kaisha Kosei
Ho) of Japan to obtain protection from its creditors as part of
the company's restructuring efforts. None of Spansion's
subsidiaries in countries other than the United States and Japan
are included in the U.S. or Japan filings.  Michael S. Lurey,
Esq., Gregory O. Lunt, Esq., and Kimberly A. Posin, Esq., at
Latham & Watkins LLP, have been tapped as bankruptcy counsel.
Michael R. Lastowski, Esq., at Duane Morris LLP, is the Delaware
counsel.  Epiq Bankruptcy Solutions LLC, is the claims agent.
The United States Trustee has appointed an official committee of
unsecured creditors in the case.  As of September 30, 2008,
Spansion disclosed total assets of US$3,840,000,000, and total
debts of US$2,398,000,000.

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


STANDARD PACIFIC: Fitch Assigns 'CC/RR5' Rating on $200 Mil. Notes
------------------------------------------------------------------
Fitch Ratings expects to assign a 'CC/RR5' rating to Standard
Pacific Corp.'s proposed private offering of $200 million of
senior unsecured notes due 2016.  The issue will be ranked on a
pari passu basis with all other senior unsecured debt.  The
proceeds from the offering of the notes will initially be held in
escrow.  If the conditions to the release of the funds from escrow
are satisfied, the company will use the net proceeds from the
offering to finance the repurchase of certain outstanding notes of
the company through tender offers, and to the extent there are any
remaining proceeds from the offering after the completion of the
tender offers, for the redemption or repurchase of other
outstanding debt of the company.

Fitch currently rates Standard Pacific's Issuer Default Rating
'CCC'.  The Rating Outlook is Negative.

The 'RR5' on the proposed unsecured notes offering and the
company's unsecured debt indicate below-average recovery prospects
for holders of these debt issues.  Standard Pacific's exposure to
claims made pursuant to performance bonds and joint venture debt
and the possibility that part of these contingent liabilities
would have a claim against the company's assets were considered in
determining the recovery for the unsecured debt holders.  Fitch
applied a liquidation value analysis for these RRs.

The ratings and Outlook for Standard Pacific reflect the current
very difficult U.S. housing market and Fitch's expectations that
the housing environment remains challenging for the remainder of
the year.  Nevertheless, there are more positive signals and
developments for housing and related industries now than at any
time previously in the downturn.  Of course, challenges remain or
are on the horizon that may not prevent a near-term bottom, but
are likely to meaningfully moderate the early stages of a
recovery.

The company had $568.8 million of cash on June 30, 2009.  Standard
Pacific generated $263.2 million of cash flow from operations
during fiscal year 2008 ($65.2 million during the fourth quarter),
which included $235.6 million of tax refunds received during the
first quarter of 2008.  Through the first half of 2009, the
company generated $197.6 million of cash from operations,
including a first quarter tax refund of $114.5 million.  For all
of fiscal 2009, Fitch expects the company to be slightly cash flow
positive, excluding the first quarter tax refund.  The company has
some near term debt maturities, which will deplete some of its
cash balance.  Standard Pacific has these near-term debt
maturities: $148.5 million in August 2010, and $170.6 million in
May 2011.  The company intends to repurchase a portion of these
notes with the proceeds of the private notes offering.

Standard Pacific recently amended its revolving credit agreement
and reduced the total commitment from $361.4 million to
$50 million, with future extensions of credit under the agreement
being limited (subject to certain limited exceptions) to the
issuance of letters of credit.  Consistent with Fitch's comment on
certain homebuilders' termination of revolving credit facilities,
in the absence of a revolving credit line, a consistently higher
level of cash and equivalents than was typical should be
maintained on the balance sheet, especially in these still
uncertain times.

Standard Pacific and its joint venture partners generally provide
credit enhancements in connection with JV borrowings in the form
of loan-to-value maintenance agreements.  While the company has
reduced its joint venture exposure, Standard Pacific's liquidity
may be negatively impacted by potential re-margining contributions
as well as cash outflow from unwinding certain JVs.  During the
six months ended June 30, 2009, Standard Pacific made a
$9.1 million loan remargin payment to one of its JVs.  Subsequent
to the end of the second quarter, the company unwound two JVs,
resulting in the acquisition of $80.3 million of real estate
inventories and the assumption of $52 million of secured project
debt, of which $22.9 million was paid off.  As of Sept. 8, 2009,
the company's unconsolidated JVs had approximately $46.8 million
of recourse debt, which was subject to loan-to-value maintenance
agreements.

Future ratings and Outlooks will be influenced by broad housing
market trends as well as company specific activity, such as trends
in land and development spending, general inventory levels,
speculative inventory activity (including the impact of high
cancellation rates on such activity), gross and net new order
activity, debt levels and especially free cash flow trends and
uses, and the company's cash position.

Fitch's Recovery Ratings are a relative indicator of creditor
recovery prospects on a given obligation within an issuers'
capital structure in the event of a default.


STANDARD PACIFIC: S&P Raises Corporate Credit Rating to 'CCC+'
--------------------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit
rating on Standard Pacific Corp. to 'CCC+' from 'CCC' and assigned
a 'CCC' issue rating and '5' recovery rating to the company's
proposed $200 million senior unsecured notes, due 2016.  The '5'
recovery rating indicates S&P's expectation for a modest (10%-30%)
recovery in the event of a payment default.  Standard Pacific
intends to use the proceeds of the new notes to fund a tender
offer for certain of its outstanding senior unsecured notes.
Concurrent with these rating actions, S&P raised its ratings on
the outstanding senior unsecured and subordinated notes.  In
addition, S&P revised its outlook on the company to developing
from negative.

"The upgrades acknowledge that Standard Pacific's new note
offering and tender offer for certain of its senior unsecured
notes will reduce the company's near-term refinancing risk," said
Standard & Poor's credit analyst James Fielding.  "Additionally,
S&P recognize the company's much lower operating losses in recent
quarters resulting from improved gross margins, lower overhead
costs, and fewer land impairment charges.  That being said, S&P's
ratings continue to reflect the company's highly leveraged capital
structure and the potential, in S&P's view, for some form of debt
restructuring in the future."

The revision of the outlook to developing acknowledges that the
risk of a payment default is diminishing as the company's
liquidity improves and as market conditions stabilize.  If market
conditions continue to firm, S&P would consider revising S&P's
outlook to positive or raising S&P's corporate credit rating on
Standard Pacific to 'B-', if S&P believe the company is in a
position to reduce leverage while fully meeting the contractual
terms of its obligations.  Conversely, S&P would lower its ratings
to 'SD' (selective default) if S&P deem future exchange offers or
similar restructurings to be tantamount to a default, according to
S&P's criteria.


STANDARD PACIFIC: Swaps $5.2MM of 6% Notes for Common Shares
------------------------------------------------------------
Standard Pacific Corp. -- pursuant to a privately negotiated
exchange agreement, dated September 4, 2009, entered into with a
noteholder -- agreed to exchange a total of $5,200,000 aggregate
principal amount of its 6% Senior Subordinated Convertible Notes
due 2012 for a number of shares of its common stock, par value
$0.01 per share equal to the sum of:

     (i) 280,000 shares of Common Stock plus

    (ii) a number of shares of Common Stock equal to $3,507,200
         divided by a share price to be determined based on the
         volume-weighted average price for the Common Stock as
         reported on the New York Stock Exchange for specified
         consecutive trading days after the execution date of the
         agreement.

Accrued and unpaid interest on the notes exchanged will be paid in
cash.  Due to the structure of the exchange agreement, the exact
number of shares of Common Stock issuable in the Exchange
Transaction cannot yet be determined.

The Company expects to close the Exchange Transaction on
September 14, 2009, however, the closing of the Exchange
Transaction is subject to standard closing conditions.

As reported by the Troubled Company Reporter, pursuant to the two
privately negotiated exchange agreements dated August 26, 2009,
the Company issued a total of 6,398,433 shares of Common Stock in
exchange for $27,637,000 aggregate principal amount of its 2012
Notes.

The issuance of the shares of Common Stock in the Exchange
Transaction is being made by the Company pursuant to the exemption
from the registration requirements of the Securities Act of 1933,
as amended, contained in Section 3(a)(9) thereunder, on the basis
that each of the exchange transactions constituted an exchange
with existing holders of the Company's securities and no
commissions or other remuneration was paid for soliciting such
exchanges.

                   About Standard Pacific Corp.

Headquartered in Irvine, California, Standard Pacific Corp. (NYSE:
SPF) -- http://www.standardpacifichomes.com/-- operates in many
of the largest housing markets in the country with operations in
major metropolitan areas in California, Florida, Arizona, the
Carolinas, Texas, Colorado and Nevada.  The Company also provides
mortgage financing and title services to its homebuyers through
its subsidiaries and joint ventures, Standard Pacific Mortgage
Inc., SPH Home Mortgage and SPH Title.

Standard Pacific generated a net loss of $23.1 million, or $0.10
per diluted share, for the second quarter ended June 30, 2009,
versus a net loss of $249.0 million, or $3.44 per diluted share,
for the year earlier period.  As of June 30, 2009, the Company had
$1.91 billion in total assets and $1.56 billion in total
liabilities.

                           *     *     *

According to the Troubled Company Reporter on April 1, 2009,
Standard & Poor's Ratings Services lowered its issue-level rating
on Standard Pacific Corp.'s senior unsecured notes to 'CCC-' from
'CCC' and removed the rating from CreditWatch, where it was placed
with negative implications on March 4, 2009.  At the same time,
S&P lowered its recovery rating on the debt to '5' from '4',
indicating that senior noteholders can expect modest (10%-30%)
recovery in the event of a payment default.


STANDARD PACIFIC: To Raise $280MM Through Issuance of 2016 Notes
----------------------------------------------------------------
Standard Pacific Corp.'s wholly owned subsidiary, Standard Pacific
Escrow LLC, intends to issue and sell senior notes due 2016 in a
private offering that is exempt from the registration requirements
of the Securities Act of 1933.

On September 10, 2009, Escrow LLC priced $280 million aggregate
principal amount of 10.750% senior notes due 2016 at an issue
price of 91.997%.

The Company intends to use the net proceeds from the offering, or
approximately $250.6 million (plus cash on hand to pay accrued
interest) to purchase, redeem or retire debt of the Company.  The
Company intends to use up to $175 million of the offering proceeds
to purchase through tender offers (and to pay related expenses),
first, the 6-1/2% Notes due August 15, 2010, then, to the extent
any amounts remain, the 6-7/8% Notes due May 15, 2011 and finally,
to the extent any amounts remain, up to $50 million principal
amount of the 7-3/4% Notes due March 15, 2013 (although the
Company reserves the right to increase the amount of notes it is
offering to purchase in the tender offers), and the remaining
proceeds will be used to repay other existing indebtedness.

Under certain conditions, the Company will assume Escrow LLC's
obligations under the notes.  If those conditions are not met,
including if the tender offers for the Company's outstanding notes
are not consummated, the 2016 Notes will be automatically
redeemed.

The notes are being offered in the United States only to qualified
institutional buyers in reliance on Rule 144A under the Securities
Act, and outside the United States, only to non-U.S. investors
pursuant to Regulation S under the Securities Act of 1933.  The
notes will not be registered under the Securities Act, and, unless
so registered, may not be offered or sold in the United States
absent registration or an applicable exemption from, or in a
transaction not subject to, the registration requirements of the
Securities Act and other applicable securities laws.

In connection with the offering, the Company announced that in
August 2009, it unwound two Southern California joint ventures.
In connection with these transactions, the Company acquired
roughly $80.3 million of real estate inventories which consisted
of 38 completed homes, eight model homes, 10 homes under
construction and 57 finished lots, and assumed roughly
$52.0 million of secured project debt.  In addition, subsequent to
unwinding one of these joint ventures, the Company paid off
roughly $22.9 million of secured project debt.  As of September 8,
2009, the Company's unconsolidated joint ventures had roughly
$46.8 million of recourse debt which was subject to loan-to-value
maintenance agreements (three joint ventures).

                   About Standard Pacific Corp.

Headquartered in Irvine, California, Standard Pacific Corp. (NYSE:
SPF) -- http://www.standardpacifichomes.com/-- operates in many
of the largest housing markets in the country with operations in
major metropolitan areas in California, Florida, Arizona, the
Carolinas, Texas, Colorado and Nevada.  The Company also provides
mortgage financing and title services to its homebuyers through
its subsidiaries and joint ventures, Standard Pacific Mortgage
Inc., SPH Home Mortgage and SPH Title.

Standard Pacific generated a net loss of $23.1 million, or $0.10
per diluted share, for the second quarter ended June 30, 2009,
versus a net loss of $249.0 million, or $3.44 per diluted share,
for the year earlier period.  As of June 30, 2009, the Company had
$1.91 billion in total assets and $1.56 billion in total
liabilities.

                           *     *     *

According to the Troubled Company Reporter on April 1, 2009,
Standard & Poor's Ratings Services lowered its issue-level rating
on Standard Pacific Corp.'s senior unsecured notes to 'CCC-' from
'CCC' and removed the rating from CreditWatch, where it was placed
with negative implications on March 4, 2009.  At the same time,
S&P lowered its recovery rating on the debt to '5' from '4',
indicating that senior noteholders can expect modest (10%-30%)
recovery in the event of a payment default.


STATION CASINOS: Committee Proposes Securities Trading Procedures
-----------------------------------------------------------------
The Official Committee of Unsecured Creditors asks the Court to
permit the panel and the affiliates of the Committee members to
trade in the Debtors' securities upon establishment and
implementation of "Ethical Walls" and in accordance with the
terms of certain Trading Procedures.

"Securities" is used as the term is defined in Section 2(a)(1) of
the Securities Act of 1933, including the following but only to
the extent they constitute securities, stocks, notes, bonds,
debentures, participation in, or derivatives based on or relating
to, any of the Debtors' obligations or equity interests.  For the
avoidance of doubt, "securities" definition does not apply to
bank debt and participations in bank debt.  Members of the
official committee will not be prohibited from trading any
claims, including, but not limited to, bank debt, subject to
compliance with applicable law.

The Committee seeks an order determining that Committee Members
acting in any capacity will neither violate their duties as
Committee Members nor subject their claims to possible
disallowance, subordination or other adverse treatment by trading
in, buying or selling the securities of the Debtors whether or
not covered by Rule 3001(e) of the Federal Rules of Bankruptcy
Procedure, during the pendency of the Chapter 11 cases, as long
as any Committee Member and its Affiliates that engage in any
transaction establish and effectively implement Ethical Wall
policies and procedures pursuant to the Trading Procedures.

The Committee asks the Court to approve these procedures and for
all Committee Members and their Affiliates to employ in trading
in the Securities:

  (a) Each Ethical Wall Entity that engages or in any way
      participates in the trading of the Securities will cause
      any personnel designated to work on matters related to the
      Debtors' Cases to execute a letter acknowledging that they
      may receive nonpublic information and that they are aware
      of, and agree to comply with, the Trading Procedures.

  (b) Committee Personnel will not directly or indirectly share
      any nonpublic information generated or received from or
      relating to Committee activities or Committee membership
      with any other employees of the Ethical Wall Entity other
      than in compliance with the Trading Procedures, provided,
      however, that Committee Personnel may share Nonpublic
      information with:

      (1) any senior management personnel employed by the
          Committee Personnel's Ethical Wall Entity who, due to
          their duties and responsibilities, have a legitimate
          need to be informed of Nonpublic Information unless
          the senior management are involved with trading or
          investment advisory activities with respect to the
          Debtors' securities, provided that the senior
          management personnel (i) complies with the Trading
          Procedures, and (ii) uses the information only in
          connection with senior managerial responsibilities,
          and (iii) are not involved with trading or investment
          advisory activities with respect to the Debtors'
          securities, and

      (2) regulators, auditors, and designated legal personnel
          employed by the Ethical Wall Entity for the purpose
          of rendering advice to Committee Personnel, provided
          that the regulators, auditors, and designated legal
          personnel (i) comply with the Trading Procedures, and
          (ii) are not involved with trading or investment
          advisory activities with respect to the Debtors'
          securities.

  (c) Each Ethical Wall Entity will create an Ethical Wall with
      respect to the Debtors' Cases.

  (d) All Committee Personnel will keep Nonpublic Information
      generated from Committee activities in files inaccessible
      to other employees.

  (e) Committee Personnel will receive no information regarding
      their respective Ethical Wall Entity's trades in the
      Securities in advance of the trades, except that Committee
      Personnel may receive customary internal or public reports
      showing the Ethical Wall Entity's purchases and sales and
      the amount and class of securities owned by the Ethical
      Wall Entity, including the Securities, provided that the
      reports will not contain non-public information.

  (f) Each Ethical Wall Entity's compliance department or
      internal counsel will review from time to time the Trading
      Procedures employed by the Ethical Wall Entity as
      necessary to ensure compliance with the Order and will
      keep and maintain records of their review; provided,
      however, the Court, the United States Trustee, or the
      Debtors are not precluded from taking any action each may
      deem appropriate in the event that it is determined that
      an actual breach of fiduciary duty has occurred because
      the procedures employed have not been effective or for
      reasons unrelated to the fact of the Ethical Wall Entity's
      ability to trade based upon the establishment of the
      procedures.

  (g) Committee Personnel's obligations to abide by the Trading
      Procedures survive a Committee Member's resignation from
      the Committee.

Certain of the Committee Members are investment advisors that
provide investment-advisory services to institutional, pension,
mutual fund and high net-worth clients and affiliated funds and
accounts.  These Committee Members may also buy and sell the
Securities for their own portfolios.  As part of these regular
business activities, the Committee Members have duties to
maximize returns for their clients or shareholders through the
buying and selling of the Securities.

The Committee Members acknowledge that they have certain legal
duties regarding Nonpublic Information about the Debtors.  In
addition, they acknowledge that trading in the Securities by
Committee Members may implicate various federal laws limiting or
attaching consequences to trading in the Securities on the basis
of Non-public Information.

Counsel to the Committee, Brad Eric Scheler,  Esq., at Fried,
Frank, Harris, Shriver & Jacobson LLP, in New York, relates that
if the Committee Members are barred from trading the Securities
during the pendency of the Cases because of their service on the
Committee, they risk the loss of potentially beneficial
investment opportunities for their clients, shareholders and
themselves.  Alternatively, if Committee Members resign from the
Committee, their clients' interests may likewise be compromised
by the Committee Members relinquishing a more active role in the
reorganization process in the Cases.

                       About Station Casinos

Station Casinos, Inc., is a gaming and entertainment company that
currently owns and operates nine major hotel/casino properties
(one of which is 50% owned) and eight smaller casino properties
(three of which are 50% owned), in the Las Vegas metropolitan
area, as well as manages a casino for a Native American tribe.

Station Casinos Inc., together with its affiliates, filed for
Chapter 11 on July 28, 2009 (Bankr. D. Nev. Case No. 09-52477).
Station Casinos has hired Milbank, Tweed, Hadley & McCloy LLP as
legal counsel in the Chapter 11 case; Brownstein Hyatt Farber
Schreck, LLP, as regulatory counsel; and Lewis and Roca LLP as
local counsel.  The Debtor is also hiring Lazard Freres & Co. LLC
as investment banker and financial advisor.  Kurtzman Carson
Consultants LLC is the claims and noticing agent.

In its bankruptcy petition, Station Casinos said that it had
assets of $5,725,001,325 against debts of $6,482,637,653 as of
June 30, 2009.  About 4,378,929,997 of its liabilities constitute
unsecured or subordinated debt securities.

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


SUN-TIMES MEDIA: Proposes Wage-Benefit Cuts From 18 Unions
----------------------------------------------------------
Chris Fusco at Chicago Sun-Times reports that Sun-Times Media
Group has sought wage-and-benefit reductions from 18 unions.

According to Chicago Sun-Times, the concessions include cuts in
severance pay and limiting it to four weeks and elimination of
seniority as a deciding factor in layoffs.

Citing Chicago Newspaper Guild executive director Tom Thibeault,
Chicago Sun-Times notes that union employees had been aware of
Sun-Times Media's plea to continue 15% compensation cuts
negotiated after the Company's bankruptcy.  According to Chicago
Sun-Times, Sun-Times Media wants to extend those cuts for three
years, regardless of when union contracts expire.

Mr. Thibeault said that Sun-Times Media also proposed that it be
allowed to move workers from location to location, and assign more
union work to non-union workers, Chicago Sun-Times states.

Sun-Times Media told union members that the concessions need to be
accepted by September 29, Chicago Sun-Times states.  The report
says that without significant union concessions, the Tyree group
said that it will walk away from the proposed $25 million deal to
acquire Sun-Times Media.

Crain's Chicago Business reports that union members could
derail Sun-Times Media Group Inc.'s sale to James Tyree.  The
unions are balking at sweeping concessions he is demanding as
terms of his deal.  "It's a terrible piece of dung," Thomas
Thibeault, executive director of the Newspaper Guild of Chicago,
said of the required concessions. "It guts our contract."

The guild represents five of the 18 bargaining units within Sun-
Times Media, including the newsrooms of the Chicago Sun-Times and
Pioneer Press publications.

As reported by the TCR on September 10, 2009, Sun-Times Media
Group Inc. filed with the Bankruptcy Court motions seeking
approval of the sale of its business to James C. Tyree-led
STMG Holdings LLC, absent higher and better bids at an auction on
October 7.

Sun-Times Media Group has entered into a "stalking horse" asset
purchase agreement with STMG Holdings, LLC, a private investor
group led by Chicago businessman James C. Tyree, for substantially
all assets of Sun-Times Media Group.  The buyer will acquire
substantially all assets of the Company for $5 million in cash,
subject to a working capital adjustment, and will assume certain
liabilities of Sun-Times Media Group estimated to total
approximately $20 million.

The Company said that Rothschild Inc. conducted extensive
marketing efforts for its assets or business but only James
C. Tyree-led STMG Holdings LLC submitted an offer to purchase
assets on a going concern basis.

The Company proposes an October 7 auction, and an October 8 sale
hearing.  The Bankruptcy Court will consider approval of the
proposed auction procedures on September 24.

            Sale Won't Pay All Administrative Costs

"The sale option likely will require that the estate be
administered for a period of time in Chapter 11 to realize a full
recovery for administrative creditors," says Pauline K. Morgan,
Esq., at Young Conaway Stargatt & Taylor, LLP, in Wilmington
Delaware, on behalf of Sun-Times Media.

Nonetheless, the sale option will preserve the Chicago Sun-Times
as a going-concern with substantial benefits for various
constituents, Ms. Morgan contends.  She notes that:

  -- The proposed sale option preserves jobs.  The Debtors
     currently employ 1,409 hourly employees (approximately 45% of
     which are unionized) and 495 salaried employees, all of whose
     jobs would be eliminated in a liquidation.

  -- A going concern will also continue to do business with the
     estates' suppliers, vendors and customers, and, importantly,
     it will continue to produce tax revenues.

  -- The sale option will preserve rather than destroy a vital
     part of Chicago's rich journalism history, which in the case
     of the Sun-Times traces its origins to 1948.

A copy of the Asset Purchase Agreement is available for free at:

        http://bankrupt.com/misc/Sun-Times_Tyree_APA.pdf

Mr. Tyree's group is represented by:

   Goldberg Kohn Bell black Rosenbloom & Moritz, Ltd.
   55 East Monroe Street, Suite 3300
   Chicago Illinois 6603-5792

                       About Sun-Times Media

Sun-Times Media Group, Inc. -- http://www.thesuntimesgroup.com/--
(Pink Sheets: SUTM) owns media properties including the Chicago
Sun-Times and Suntimes.com as well as newspapers and Web sites
serving more than 200 communities across Chicago.  The Company and
its affiliates conduct business as a single operating segment
which is concentrated in the publishing, printing, and
distribution of newspapers in greater Chicago, Illinois,
metropolitan area and the operation of various related Web sites.
The Company also has affiliates in Canada, the United Kingdom, and
Burma.

Sun-Times Media's balance sheet at September 30, 2008, showed
total assets of $479.9 million, total liabilities of
$801.7 million, resulting in a stockholders' deficit of roughly
$321.8 million.

The Company and its affiliates filed for Chapter 11 bankruptcy
protection on March 31, 2009 (Bankr. D. Del. Case No. 09-11092).
James H.M. Sprayregan, P.C., James A. Stempel, Esq., David A.
Agay, Esq., and Sarah H. Seewer, Esq., at Kirkland & Ellis LLP,
assist the Debtors in their restructuring efforts.  Kurtzman
Carson Consultants LLC is the Debtors' claims agent.  As of
November 7, 2008, the Debtors listed $479,000,000 in assets and
$801,000,000 in debts.


SWIFT TRANSPORTATION: Bank Debt Trades at 20.25% Off
----------------------------------------------------
Participations in a syndicated loan under which Swift
Transportation Co., Inc., is a borrower traded in the secondary
market at 79.75 cents-on-the-dollar during the week ended
Sept. 11, 2009, according to data compiled by Loan Pricing Corp.
and reported in The Wall Street Journal.  This represents an
increase of 0.71 percentage points from the previous week, The
Journal relates.  The loan matures on March 15, 2014.  The Company
pays 325 basis points above LIBOR to borrow under the facility.
The bank debt carries Moody's B3 rating and Standard & Poor's B-
rating.  The debt is one of the biggest gainers and losers among
widely quoted syndicated loans in secondary trading in the week
ended Sept. 11, among the 154 loans with five or more bids.

Swift Transportation Co., Inc. -- http://www.swifttrans.com/--
hauls freight such as building materials, paper products, and
retail merchandise throughout the US and in Mexico.  The Company
operates a fleet of about 18,000 tractors and 48,000 trailers from
a network of about 40 terminals.  Its services include dedicated
contract carriage, in which drivers and equipment are assigned to
a customer long-term.  Besides standard dry vans, Swift's fleet
includes refrigerated, flatbed, and other specialized trailers, as
well as about 5,800 intermodal containers.  Chairman and CEO Jerry
Moyes owns the company, which he founded in 1966, took public, and
took private again in 2007.


TI ACQUISITION: Supplier Prevails in Sec. 503(b)(9) Claim Dispute
-----------------------------------------------------------------
WestLaw reports that a supplier that had shipped material to a
Chapter 11 debtor within 20 days of the petition date in the
ordinary course of the parties' business was entitled to an
administrative expense claim for the value of such material, with
no reduction for payments that it received during this same 20-day
period on its earlier invoices.  This was required by the plain
terms of an administrative expense provision in 11 U.S.C. Sec.
503(b)(9) which was added to the Code by the Bankruptcy Abuse
Prevention and Consumer Protection Act in 2005.  Moreover, the
statute requiring the court to disallow any proof of claim filed
by an entity from whom property is recoverable under turnover or
avoidance provisions, unless the entity has paid the amount, or
turned over any such property, for which the entity or transferee
is liable, did not provide a basis for disallowance of
administrative expense claims, not even of an administrative
expense claim which, like ordinary proofs of claim subject to
allowance or disallowance under a Code provision dealing with
prepetition claims generally, was based on a transaction occurring
prepetition.  In re TI Acquisition, LLC, --- B.R. ----, 2009 WL
2835200 (Bankr. N.D. Ga.).

Dalton, Georgia-based TI Acquisition, LLC, does business as Thomas
Industries, Monticello Floors, Mattel, Superior Yarn Technology,
Mattel Carpet & Rug, Thomas Industries, and Templeton Carpet
Mills.  It manufactures carpets and textiles.  It filed its
chapter 11 petition on July 27, 2008 (Bankr. N.D. Ga. Case No.
08-42370).  Richard T. Klingler, Esq., at Kennedy, Koontz &
Farinash, represents the Debtor in its restructuring efforts.
An official committee of unsecured creditors has been appointed
in the case.  Michael E. Baum, Esq., and Brendan G. Best, Esq.,
at Schafer and Weiner, Pllc, in Bloomfield Hills, Michigan,
represent the panel, and Christopher Tierney at Hays Financial
Consulting provides the committee with financial advice.

When the Debtor filed for bankruptcy, it listed assets of
$10 million to $50 million and debts of $50 million to
$100 million.  The Debtor listed $3,213,604 in unsecured debt owed
to Honeywell Nylon, LLC, and $1,326,415 owed to Southern Polymer,
Inc.  The Debtor partly blamed its financial demise on Propex
Inc.'s Chapter 11 bankruptcy filing in January 2008.  Propex is
one of the Debtor's largest clients.


TODD'S BY THE BRIDGE: Closes After Failing to Pay Drink Tax
-----------------------------------------------------------
Karamagi Rujumba at Pittsburgh Post-Gazette reports that Common
Pleas Judge Robert J. Colville ordered the closure of Todd's By
the Bridge and Crazy Karen's bars due to failure of paying
Allegheny County's 7% drink tax.

According to Post-Gazette, Todd's By the Bridge, owes the county
some $50,000, and Crazy Karen's, owes about $20,000.  Post-Gazette
relates that Treasurer John Weinstein, whose office is in charge
of collecting the tax, said that after several attempts to collect
taxes from the bars, he ran out of patience.

Talerico's bar was also part of the judge's order, but its owner
agreed to pay $27,000 in back taxes, Post-Gazette states.


TRIBUNE CO: Bank Debt Trades at 55% Off in Secondary Market
-----------------------------------------------------------
Participations in a syndicated loan under which Tribune Co. is a
borrower traded in the secondary market at 45.03 cents-on-the-
dollar during the week ended Sept. 11, 2009, according to data
compiled by Loan Pricing Corp. and reported in The Wall Street
Journal.  This represents an increase of 2.19 percentage points
from the previous week, The Journal relates.  The loan matures
May 17, 2014.  Tribune pays 300 basis points above LIBOR to borrow
under the facility.  Moody's has withdrawn its rating on the bank
debt, while it is not rated by Standard & Poor's.  The debt is one
of the biggest gainers and losers among widely quoted syndicated
loans in secondary trading in the week ended Sept. 11, among the
154 loans with five or more bids.

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 Dec. 8, 2008 (Bankr. D. Del. Lead Case No. 08-
13141).  The Debtors proposed Sidley Austion LLP as their counsel;
Cole, Schotz, Meisel, Forman & Leonard, PA, as Delaware counsel;
Lazard Ltd. and Alvarez & Marsal North Americal LLC as financial
advisors; and Epiq Bankruptcy Solutions LLC as claims agent.  As
of Dec. 8, 2008, the Debtors have $7,604,195,000 in total assets
and $12,972,541,148 in total debts.

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


TRIDENT RESOURCES: Case Summary & 2 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Trident Resources Corp.
        Suite 1000, 444-7th Avenue S.W.
        Calgary, AB T2P 0X8
        Canada

Case No.: 09-13150

Debtor-affiliates filing separate Chapter 11 petitions:

        Entity                                     Case No.
        ------                                     --------
NexGen Energy Canada, Inc.                         09-13151
Trident USA Corp.                                  09-13152
Trident CBM Corp.                                  09-13153
Aurora Energy LLC                                  09-13154

Type of Business: The Debtor operates a natural gas exploration
and development company.

Chapter 11 Petition Date: September 8, 2009

Court: United States Bankruptcy Court
       District of Delaware (Delaware)

Judge: Mary F. Walrath

Debtor's Counsel: Chun I. Jang, Esq.
                  Richards, Layton & Finger, P.A.
                  920 North King Street
                  P.O. Box 551
                  Wilmington, DE 19899
                  Tel: (302) 651-7700
                  Fax: (302) 651-7701
                  Email: jang@rlf.com

                  Mark D. Collins, Esq.
                  Richards Layton & Finger
                  One Rodney Square
                  PO Box 551
                  Wilmington, DE 19899
                  Tel: (302) 651-7700
                  Fax: (302) 651-7701
                  Email: collins@RLF.com

                  Paul Noble Heath, Esq.
                  Richards, Layton & Finger
                  One Rodney Square
                  P.O. Box 551
                  Wilmington, DE 19899
                  Tel: (302) 651-7700
                  Fax: (302) 651-7701
                  Email: heath@rlf.com

                  Travis A. McRoberts, Esq.
                  Richards, Layton & Finger, P.A.
                  920 North King Street
                  Wilmington, DE 19801
                  Tel: (302) 651-7700
                  Fax: (302) 651-7701
                  Email: mcroberts@rlf.com

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

Estimated Debts: $500,000,001 to $1,000,000,000

The petition was signed by Allan G. Withey, the company's chief
financial officer.

A. Trident Resources' List of 2 Largest Unsecured Creditors:

  Entity                       Nature of Claim        Claim Amount
  ------                       ---------------        ------------
Wells Fargo Bank, NA,          Bank Debt              $136.86 MM3
as Administrative Agent
Attention: Andrew Nyquist

Credit Suisse,                 Bank Debt              Unknown
As Administrative Agent
Attention: Edith Chan


TRIPLE DIAMOND: Blames Chapter 11 Bankruptcy on Economic Woes
-------------------------------------------------------------
Rhoda Miel at Plastics News reports that Triple Diamond Plastics,
Inc., has filed for Chapter 11 bankruptcy protection in the U.S.
Bankruptcy Court for the Northern District of Ohio, listing 28
listing $1 million to $10 million in liabilities.

Triple Diamond President Kevin Knight said in court documents that
the Company has had difficulty due to the local, regional, and
national economic slowdown and ongoing events that decreased the
Debtor's cash flow and increased uncollectible accounts
receivable.  Court documents say that Triple Diamond listed sales
of $3 million in 2007 and $3.4 million in 2008.  Plastics News
relates that Triple Diamond had reported $985,000 in sales so far
this year.

According to Plastics News, Triple Diamond's unsecured creditors
include:

     -- Alternative Staffing Inc., which won an $86,333 judgment
        against the Company in an unrelated civil case this year;

     -- Buckeye Polymers which is owed $138,000; and

     -- Harris Material Exchange Inc., which is owed $372,000.

Triple Diamond Plastics, Inc., fdba JenMar MFG Americas, Inc., is
a Nokomis, Florida-based injection molder.


UBS AG: Workers Worried of Debt Securities, Wanted to Unload Them
-----------------------------------------------------------------
Serena Ng and Carrick Mollenkamp at The Wall Street Journal report
that e-mails presented in court show that in the summer and fall
of 2007 some U.S. UBS AG employees became increasingly worried
about billions of dollars of debt securities inventoried on the
bank's books and wanted to find a way to unload them.

As reported by the TCR on September 11, 2009, Connecticut Court
Judge John F. Blawie has ruled that UBS set aside $35.5 million to
cover a potential judgment against it in a case involving debt
securities that employees called "crap" and "vomit".  Hedge fund
Pursuit Partners LLC claimed that UBS sold investment-grade debt
securities to the firm in 2007, though the Company knew that the
securities were about to be downgraded by ratings agencies.  Judge
Blawie said that Pursuit Partners had "presented sufficient
evidence to satisfy the probable cause standard with respect to
their claim that UBS was in possession of superior knowledge that
was not readily available" to the company.

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.


US ONCOLOGY: S&P Rates $120 Mil. Revolving Facility at 'BB-'
------------------------------------------------------------
On Sept. 10, 2009, Standard & Poor's Ratings Services rated
Houston, Texas-based U.S. Oncology Inc.'s $120 million revolving
credit facility 'BB-'.  The recovery rating of '1' indicates
prospects for very high recovery (90%-100%) in the event of a
default.  The facility matures in August 2012.  The revolver is
rated two notches above S&P's B/Stable/-- corporate credit rating
on the company.

The speculative-grade rating on US Oncology Inc. reflects its
significant debt burden (based on the consolidated borrowings of
the company and its parent, US Oncology Holdings Inc.),
vulnerability to adverse changes in third-party reimbursement
policies, narrow operating focus (the treatment of a single
disease), and competitive threats.  S&P believe these factors are
only minimally offset by rising long-term demand trends, the
company's broad geographic presence and its ability to recruit and
retain oncologists, which is a key revenue growth factor.

                           Ratings List

                        U.S. Oncology Inc.

       Corporate credit rating                 B/Stable/--

                         Rating Assigned

            $120 million revolving credit facility BB-
            Recovery rating                        1


US SHIPPING: Rand Logistics May Sweeten Offer to Acquire Assets
---------------------------------------------------------------
Rajesh Joshi at Lloyd's List DCN reports that Rand Logistics
chairperson and CEO Laurence Levy said that the firm may consider
sweetening its $260 million offer for the Company, provided the
Company permits due diligence.

U.S. Shipping Partners L.P. -- http://www.usslp.com/-- provides
long-haul marine transportation services for refined petroleum,
petrochemical and commodity chemical products in the U.S. domestic
"coastwise" trade.  Its existing fleet consists of twelve tank
vessels: five integrated tug barge units; one product tanker;
three chemical parcel tankers and three ATBs.  U.S. Shipping has
embarked on a capital construction program to build additional
ATBs and, through a joint venture, additional tank vessels that
upon completion will result in U.S. Shipping having one of the
most modern versatile fleets in service.

The Company and its affiliates filed for Chapter 11 bankruptcy
protection on April 29, 2009 (Bankr. S.D.N.Y. Case No. 09-12711).
Alfredo R. Perez, Esq., at Weil Gotshal & Manges, assists the
Debtors in their restructuring efforts.  The U.S. Trustee for
Region 2 appointed three creditors to serve on the Official
Committee of Unsecured Creditros.  Craig A. Wolfe, Esq., Kelley
Drye & Warren LLP, represent the Committee.  U.S. Shipping listed
$717,443,000 in assets and $606,534,000 in debts as of
September 30, 2008.


VENETIAN MACAU: Bank Debt Trades at 7.04% Off in Secondary Market
-----------------------------------------------------------------
Participations in a syndicated loan under which Venetian Macau US
Finance Co. LLC is a borrower traded in the secondary market at
92.96 cents-on-the-dollar during the week ended Sept. 11, 2009,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 1.11
percentage points from the previous week, The Journal relates.
The loan matures on May 25, 2013.  The Company pays 225 basis
points above LIBOR to borrow under the facility.  The bank debt
carries Moody's B3 rating and Standard & Poor's B- rating.  The
debt is one of the biggest gainers and losers among widely quoted
syndicated loans in secondary trading in the week ended Sept. 11,
among the 154 loans with five or more bids.

Meanwhile, participations in a syndicated loan under which Las
Vegas Sands Corp. is a borrower traded in the secondary market at
78.19 cents-on-the-dollar during the week ended Sept. 11, 2009,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 0.69
percentage points from the previous week, The Journal relates.
The loan matures on May 1, 2014.  The Company pays 175 basis
points above LIBOR to borrow under the facility.  The bank debt
carries Moody's B3 rating and Standard & Poor's B- rating.  The
debt is also one of the biggest gainers and losers among widely
quoted syndicated loans in secondary trading in the week ended
Sept. 11, among the 154 loans with five or more bids.

Venetian Macau is a wholly owned subsidiary of Las Vegas Sands.
VML owns the Sands Macau in the People's Republic of China Special
Administrative Region of Macau and is also developing additional
casino hotel resort properties in Macau.

Based in Las Vegas, Nevada, Las Vegas Sands Corp. (NYSE: LVS) --
http://www.lasvegassands.com/-- owns and operates The Venetian
Resort Hotel Casino, The Palazzo Resort Hotel Casino, and an expo
and convention center.  The company also owns and operates the
Sands Macao, the first Las Vegas-style casino in Macao, China.

As reported by the TCR on Aug. 4, 2009, Moody's Investors Service
has placed Las Vegas Sands, Corp.'s ratings, including its B3
Corporate Family Rating, on review for possible downgrade.  The
review for possible downgrade reflects LVSC's weak fiscal 2009
second quarter operating results and Moody's heightened concern
regarding the company's ability to maintain an adequate liquidity
profile, reduce leverage, and remain in compliance with its
financial covenants.


VENTURE BANK, LACY: First-Citizens Bank Assumes Deposits
--------------------------------------------------------
Venture Bank, Lacy, Washington, was closed September 11 by the
Washington Department of Financial Institutions, which appointed
the Federal Deposit Insurance Corporation as receiver.  To protect
the depositors, the FDIC entered into a purchase and assumption
agreement with First-Citizens Bank & Trust Company, Raleigh, North
Carolina, to assume all of the deposits of Venture Bank.

The eighteen branches of Venture Bank will reopen during normal
business hours beginning tomorrow as branches of First-Citizens
Bank & Trust Company.  Depositors of Venture Bank will
automatically become depositors of First-Citizens Bank & Trust
Company.  Deposits will continue to be insured by the FDIC, so
there is no need for customers to change their banking
relationship to retain their deposit insurance coverage.
Customers should continue to use their existing branches until
First-Citizens Bank & Trust Company can fully integrate the
deposit records of Venture Bank.

As of July 28, 2009, Venture Bank had total assets of $970 million
and total deposits of approximately $903 million.  In addition to
assuming all of the deposits of the failed bank, First-Citizens
Bank & Trust Company agreed to purchase approximately $874 million
of the assets.  The FDIC will retain the remaining assets for
later disposition.

The FDIC and First-Citizens Bank & Trust Company entered into a
loss-share transaction on approximately $715 million of Venture
Bank's assets.  First-Citizens Bank & Trust Company will share in
the losses on the asset pools covered under the loss-share
agreement.  The loss-sharing arrangement is projected to maximize
returns on the assets covered by keeping them in the private
sector. The agreement also is expected to minimize disruptions for
loan customers.

Customers who have questions about the transaction can call the
FDIC toll-free at 1-800-430-7974.  Interested parties can also
visit the FDIC's Web site at:

    http://www.fdic.gov/bank/individual/failed/venture-wa.html

The FDIC estimates that the cost to the Deposit Insurance Fund
(DIF) will be $298 million.  First-Citizens Bank & Trust Company's
acquisition of all the deposits was the "least costly" resolution
for the FDIC's DIF compared to alternatives.  Venture Bank is the
92nd FDIC-insured institution to fail in the nation this year, and
the third in Washington.  The last FDIC-insured institution closed
in the state was Westsound Bank, Bremerton, on May 8, 2009.


W/C IMPORTS INC: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: W/C Imports Inc.
           aka W-C Designs
        905 East Katella Avenue
        Anaheim, CA 92805

Case No.: 09-19622

Type of Business: The Debtor operates a wholesale home furnishing
business.

Chapter 11 Petition Date: September 10, 2009

Court: United States Bankruptcy Court
       Central District Of California (Santa Ana)

Judge: Erithe A. Smith

Debtor's Counsel: Garrick A. Hollander, Esq.
            Winthrop Couchot
                  660 Newport Center Dr., Ste. 400
            Newport Beach, CA 92660
            Tel: (949) 720-4150
            Fax: (949) 720-4111
            Email: sconnor@winthropcouchot.com

            Marc J. Winthrop, Esq.
            660 Newport Center Dr., Ste. 400
            Newport Beach, CA 92660
            Tel: (949) 720-4100
            Email: pj@winthropcouchot.com

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

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

The petition was signed by Patrick J. McCullagh, the company's
president.

Debtor's List of 20 Largest Unsecured Creditors:

  Entity                       Nature of Claim        Claim Amount
  ------                       ---------------        ------------
Manhattan Properties Co.       NY Rent                $269,939
Attn: Corporate Officer
295 Fifth Avenue
New York, NY 10016-7103

K/L Anaheim Properties I LLC   CA Rent                $262,498
c/o GS Mgmt/Attn: Managing Mbr
5674 Sonoma Drive
Pleasanton, CA 94566

Air Tiger Express Inc.         Broker                 $214,180
Attn: Corporate Officer

Hep Direct                                            $203,034
Attn: Corporate Officer

Allen Matkins Leck, et al.     Legal fees             $177,488
Attn: Managing Partner

Strategic Stfng Alliance Inc.  Warehouse staff        $161,663
Attn: Corporate Officer

WWRD                           Royalties              $158,235
Attn: Corporate Officer

Calvin Klein, Inc.             Royalties & Pkg        $143,369
Attn: Corporate Officer

CIF                                                   $82,026
Attn: Corporate Officer

3PL                                                   $71,050
Attn: Corporate Officer

C2 Media.Com                   Banners BBB            $70,457
Attn: Alex Raeburn

You Bang Crftwk/               Bath Accessories       $61,885
Uniq Wide Corp
Attn: Corporate Officer

Core Supply Company, LLC       Boxes/warehouse        $58,430
Attn: Managing Member

Tabletops Unlimited            Royalties              $53,036
Attn: Dar Molayem

New Image                                             $48,138
Attn: Corporate Officer

Design-45 Exports PV           Bedding                $45,609
Attn: Corporate Officer

Hsin-Yin Pottery               Bath Accessories       $43,900
Attn: Corporate Officer

Trivista Asia Group, LLC       Consulting             $40,233
Attn: Managing Member

Mayo Studios, Inc.             Photos                 $36,421
Attn: Corporate Officer

Federal Express Corp           Shipping to            $21,505
Attn: Corporate Officer        customers etc


WALTER B. SCOTT & SONS: Case Summary & 20 Largest Unsec. Creditors
------------------------------------------------------------------
Debtor: Walter B. Scott & Sons, Inc
        14597 St. Joe River Road
        St. Maries, ID 83861

Bankruptcy Case No.: 09-20996

Chapter 11 Petition Date: September 10, 2009

Court: United States Bankruptcy Court
       District of Idaho [LIVE] (Coeur dAlene)

Judge: Chief Judge Terry L. Myers

Debtor's Counsel: Gregory Richard Rauch, Esq.
                  P.O. Box 8074
                  Moscow, ID 83843
                  Tel: (208) 874-3727
                  Email: grauch@magyarlawfirm.com

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

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

According to the schedules, the Company has assets of at least
$1,265,000, and total debts of $3,462,545.

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/idb09-20996.pdf

The petition was signed by Kelly F. Scott, secretary of the
Company.


WILLIAM LYON: Unit to Sell Gulfstream Aircraft for $8.25MM
----------------------------------------------------------
Presley CMR, Inc., a wholly owned subsidiary of William Lyon
Homes, Inc., a California corporation and wholly owned subsidiary
of William Lyon Homes, a Delaware corporation, on September 3,
2009, entered into an Aircraft Purchase and Sale Agreement with
Martin Aviation, Inc., and affiliate of General William Lyon.

Pursuant to the PSA, Presley CMR agreed to sell, transfer and
deliver to Martin, and Martin agreed to purchase, one used
Gulfstream IV aircraft together with all parts, items of
equipment, instruments, components and accessories installed
therein or thereon.  The agreement provides for an aggregate
purchase price for the Aircraft of $8,250,000 (which value was the
appraised fair market value of the Aircraft), which consists of:
(i) cash in the amount of $2,062,500 to be paid at closing and
(ii) the assumption by Martin of $6,187,500 in principal amount of
existing indebtedness of Presley CMR to WLH, evidenced by delivery
of a promissory note from Martin at closing in that principal
amount.  The Note will bear interest at a fixed rate equal to the
12-month LIBOR announced on the closing date by the Wall Street
Journal plus 3% (with interest-only payments made semi-annually)
and will mature seven years from the closing date.

The closing of this sale occurred on September 9, 2009.

In connection with the sale of the Aircraft, Presley CMR and
Martin also entered into an Aircraft Mortgage and Security
Agreement, pursuant to which William Lyon Homes, Inc. will receive
a security interest in the Aircraft to secure the payment of
amounts due under the aforementioned promissory note.  Pursuant to
the MSA, Martin agreed to always maintain the mortgage as a first
priority security interest and lien upon the Aircraft and Presley
CMR, as the secured party, obtained certain rights against the
mortgaged property in the event of default by Martin.

Based in Newport Beach, California, William Lyon Homes --
http://www.lyonhomes.com/-- is primarily engaged in the design,
construction and sale of single family detached and attached homes
in California, Arizona and Nevada and at June 30, 2009 had 24
sales locations.

As of June 30, 2009, the Company had $828,629,000 in total assets
and $676,415,000 in total liabilities.

As reported by the Troubled Company Reporter on June 12, 2009,
Moody's Investors Service affirmed William Lyon's corporate family
rating of Caa2 and changed its probability of default rating to
Caa2/LD from Ca, following the company's announcement that its
tender offer, which was extended to all of its senior noteholders
on April 13, 2009, had expired on June 5, 2009.  Subsequent to the
offer, approximately $53 million (or 11%) of William Lyon's
outstanding senior notes were tendered at substantial discounts to
par.  The transactions constitute a distressed exchange and a
limited default by Moody's definition.

The TCR said June 18, 2009, that Standard & Poor's Ratings
Services raised its corporate credit rating on William Lyon to
'CCC-' from 'SD' (selective default).  The outlook is negative.
S&P also raised S&P's ratings on the company's senior unsecured
notes to 'CC' from 'D'.  The upgrades follow S&P's review of
William Lyon's capital structure with adjustments for the recent
tender for some of its notes.  Standard & Poor's credit analyst
James Fielding said, "We viewed the below-par exchange as
tantamount to default given the distressed financial condition of
the company.  S&P's 'CCC-' corporate credit rating on the company
reflects S&P's view that the company remains highly leveraged on a
pro forma basis, as well as our expectations that covenant
pressures will heighten if operating losses continue to mount."


WOODFILL DEVELOPMENT: Case Summary & 6 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Woodfill Development, Inc.
        9494 Richison Ranch Rd
        Redding, CA 96001

Bankruptcy Case No.: 09-39360

Chapter 11 Petition Date: September 9, 2009

Court: United States Bankruptcy Court
       Eastern District of California (Sacramento)

Judge: Thomas Holman

Debtor's Counsel: Clark D. Nicholas, Esq.
                  1930 West St.
                  Redding, CA 96001-1765
                  Tel: (530) 243-1824

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
6 largest unsecured creditors, is available for free at:

            http://bankrupt.com/misc/caeb09-39360.pdf

The petition was signed by David L. Woodfill, president of the
Company.


YL WEST 87TH HOLDINGS: Files for Chapter 11 Bankruptcy Protection
-----------------------------------------------------------------
YL West 87th Holdings I. LLC, which owes $20 million to its
Garrison Investment Group, has filed for Chapter 11 bankruptcy
protection in the U.S. Bankruptcy Court for the Southern District
of New York.

Gary Kushner, Esq., at Forchelli, Curto, Schwartz, Mineo, et al.,
assists YL West in its restructuring efforts.

The Park Columbus project's construction stalled earlier this
year, says Crain's New York Business.  According to Crain's,
sources said that the New York state' Attorney General's office
then declared the Park Columbus' offering plan ineffective.
Halstead Property also sued the developer for $75,000 in
outstanding fees and expenses, the report states.

YL West 87th Holdings I. LLC operates a real estate business in
New York.


YRC WORLDWIDE: New Penn Employees Accept Labor Contract Changes
---------------------------------------------------------------
YRC Worldwide Inc. said September 9, 2009, that union employees at
its regional carrier, New Penn, have joined the more than 90% of
its employees represented by the International Brotherhood of
Teamsters in voting "yes" to ratify a previously announced
modification to the National Master Freight Agreement.

"As employee owners and stakeholders, our union workforce has made
difficult decisions and demonstrated their commitment to achieving
long-term success for YRC Worldwide.  Revisions to the contract
enable the company to strengthen its financial position," said
Mike Smid, President of YRC Inc. and Chief Operations Officer of
YRC Worldwide.

The modified agreement includes a 5% incremental wage reduction
and an 18-month cessation of union pension fund contributions,
which will not require repayment.  Related savings from the
pension and wage reduction are approximately $45 million per
month, and primarily began in August.  Savings increase to an
estimated $50 million per month in 2010.

The company and the Teamsters are addressing employee concerns in
the remaining smaller bargaining units who have yet to ratify the
contract changes.  This represents a small percentage of the
company's unionized workforce.

                        About YRC Worldwide

Headquartered in Overland Park, Kansas, YRC Worldwide Inc. --
http://www.yrcw.com-- a Fortune 500 company and one of the
largest transportation service providers in the world, is the
holding company for a portfolio of successful brands including
YRC, YRC Reimer, YRC Glen Moore, YRC Logistics, New Penn, Holland
and Reddaway.  YRC Worldwide has the largest, most comprehensive
network in North America with local, regional, national and
international capabilities.  Through its team of experienced
service professionals, YRC Worldwide offers industry-leading
expertise in heavyweight shipments and flexible supply chain
solutions, ensuring customers can ship industrial, commercial and
retail goods with confidence.

As of June 30, 2009, the Company had $3.41 billion in total
assets, including $164.5 million in cash and cash equivalents;
$1.72 billion in total current liabilities, $832.9 million in
long-term debt, $126.5 million in deferred income tax liabilities,
$380.7 million in pension and post-retirement liabilities, and
$423.1 million in claims and other liabilities; resulting in
$72.9 million in shareholders' deficit.

As reported by the Troubled Company Reporter on August 18, 2009,
Standard & Poor's Ratings Services affirmed its 'CCC' long-term
corporate credit rating on YRC Worldwide.  S&P removed the ratings
from CreditWatch, where S&P had placed them with negative
implications on April 24, 2009.


* Another Round of Airline Bankruptcies Possible, Analysts Say
--------------------------------------------------------------
Some analysts said that there is a possibility of another round of
bankruptcy filings by airlines, Marc Friedman at Minneapolis
Airlines/Airport Examiner reports.

Examiner.com relates that Delta Airlines, United Air Lines,
Northwest Airlines, Frontier, US Airways, and Continental have
already gone into Chapter 11 bankruptcy.  According to the report,
American Airlines, United Air Lines, and US Airways are believed
to be most vulnerable in the recession.

Examiner.com notes that many business travelers have stopped
traveling, while some have lessened travels.  The report says that
revenues have decreased 20% this year and even more from 2008 at
the four largest U.S. airlines.  JPMorgan analyst Jamie Baker
estimated that American Airlines would lose more than $11 million
daily in the fourth quarter 2009, while United Air will decline
$7 million per day.

"We don't think any airline will have liquidity issues this
winter," Examiner.com quoted US Airways Chief Financial Officer
Derek Kerr as saying.  According to the report, other airlines
thought so too, believing that they can survive the slow travel
season this fall.


* FDIC Asks Closed Bank Buyers' to Grant Forbearance to Unemployed
------------------------------------------------------------------
As part of its loss-share agreement with acquirers of failed FDIC-
insured institutions, the FDIC is encouraging its loss-share
partner institutions to consider temporarily reducing mortgage
payments for borrowers who are unemployed or underemployed.  This
program will provide additional foreclosure prevention
alternatives to these borrowers through forbearance agreements
that will give them an opportunity to regain full employment and
avoid an unnecessary foreclosure.

"With more Americans suffering through unemployment or cuts in
their paychecks, we believe it is crucial to offer a helping hand
to avoid unnecessary and costly foreclosures.  This is simply good
business since foreclosure rarely benefits lenders and would cost
the FDIC more money, not less," said FDIC Chairman Sheila C. Bair.
"This is a win-win for the borrower, who can remain in his or her
home while looking for a new job, and the acquiring institution,
which continues to receive payments on the loan.  Ultimately, by
reducing losses under our loss-share agreements, this approach
helps reduce losses to the FDIC as well."

The recommendation to loss-share partners applies where
unemployment, or underemployment, is the primary cause for default
on a home mortgage.  In such cases, the FDIC is urging its loss-
share partners to consider the borrower for a temporary
forbearance plan, reducing the loan payment to an affordable level
for at least six months.  The monthly payment during this period
should be established based on an affordable payment -- given the
borrower's circumstances -- and it should allow for reasonable
living expenses after payment of mortgage-related expenses.  The
reductions in mortgage payments during a temporary forbearance
period are not covered losses under the loss-share agreement with
the FDIC, though losses incurred from subsequent permanent loan
modifications are covered.  If the home preservation efforts are
ultimately unsuccessful, losses incurred in subsequent
foreclosures or short sales also are covered losses.

Acquirers of failed insured institutions who agree to a loss-share
arrangement with the FDIC must abide by the FDIC Mortgage Loan
Modification program for assets purchased from the failed
institution.  The program's objective is to modify the terms of
certain residential mortgage loans to improve affordability,
increase the probability of performance, allow borrowers to remain
in their homes and increase the value of the loans to the FDIC and
assignees.  The program provides for the modification of
"qualifying loans" -- those that meet certain criteria -- by
reducing the borrower's monthly housing debt to income ratio (DTI
ratio) to no more than 31 percent at the time of the modification
and eliminating adjustable interest rate and negative amortization
features.


* Fed Failed to Curb Flawed Lending in Two Banks, Says Reports
--------------------------------------------------------------
Fed Inspector General Elizabeth Coleman said that Federal Reserve
examiners failed to rein in practices that led to losses from
excessive real estate lending at two banks in California and
Florida that later closed.

Ms. Coleman, in report on Riverside Bank of the Gulf Coast in Cape
Coral, Florida, said the bank warranted more immediate supervisory
attention, such as (1) conducting an asset quality target
examination, (2) requiring the bank to prepare a new capital plan,
or (3) further accelerating the full-scope examination that was
conducted in March 200, by the Atlanta district bank.  With
respect to County Bank in Merced, California, the San Francisco
Fed should have taken a "more aggressive supervisory" approach,
Ms. Coleman said in another material loss review report, also
dated Sept. 9.

Copies of the two reports are available for free at:

   http://bankrupt.com/misc/RBGC_MLR_20090909.pdf
   http://bankrupt.com/misc/County_Bank_MLR_20090909.pdf

The Federal Deposit Insurance Corporation has said that the
failure of Riverside-Gulf Coast would result in an estimated loss
to the DIF of $201.5 million, or 37.5% of the bank's
$536.7 million in total assets.  County's failure would result in
an estimated loss to the DIF of $135.8 million, or 8% of the
bank's $1.692 billion in total assets

The FDIC has said that its Deposit Insurance Fund decreased by
$2.6 billion -- 20.3% -- during the second quarter to
$10.4 billion.  According to the FDIC, the reduction in the DIF
was primarily due to an $11.6 billion increase in loss provisions
for bank failures.

          Programs Not Sufficient for Another Failure

Meanwhile, almost a year after the collapse of Lehman Brothers
Holdings Inc., U.S. Treasury Secretary Timothy Geithner said in an
interview with the Financial Times that reforms made by the U.S.
following the global banking crisis are not sufficient to contain
another banking failure from polluting the rest of the financial
system.  "Things are not yet in place," Mr. Geithner said.  "We do
not have a new international capital accord and stronger
resolution authority."

Ron Feldman, senior vice president of the Federal Reserve Bank on
Minneapolis, said in a broadcast interview with Bloomberg that
U.S. regulators should be better prepared to handle bank failures
while making efforts to avert the collapse of financial
institutions.


* 3 Banks Shuttered; Year's Bank Failures Now 92
------------------------------------------------
Three banks -- Brickwell Community Bank, Woodbury, Minnesota;
Corus Bank, N.A., Chicago, Illinois; and Venture Bank, Lacey,
Washington --- were closed September 11 by regulators and sent to
receivership before the Federal Deposit Insurance Corporation
(FDIC).  This year's closed banks have risen to 92.

Other than Platinum Community, the FDIC was able to locate buyers
for all deposits and certain assets of the banks that were closed
on September 4.   The FDIC entered into a loss-share transactions
on majority of the closed banks' assets purchased by the buyers.

In accordance with Federal law, allowed claims against failed
financial institutions will be paid, after administrative
expenses, in this order of priority:

       1. Depositors
       2. General Unsecured Creditors
       3. Subordinated Debt
       4. Stockholders

                     416 Banks on Problem List

The Federal Deposit Insurance Corporation said August 27 that the
number of banks and savings institutions in its "Problem List"
increased to 416 at the end of the second quarter compared with
305 at March 31.

The 416 banks have combined assets of $299.8 billion.  The FDIC
said this is the largest number of "problem" institutions since
June 30, 1994, and the largest amount of assets on the list since
December 31, 1993.

At the end of the 2008, there were 252 banks on the Problem List.

"Problem" institutions are those institutions with financial,
operational, or managerial weaknesses that threaten their
continued financial viability.  They are rated by the FDIC or
Office of the Thrift Supervision as either a "4" or "5", based on
a scale of 1 to 5 in ascending order of supervisory concern.
The Problem List is not divulged to the public.  No advance notice
is given to the public when a financial institution is closed.

The Deposit Insurance Fund (DIF) decreased by $2.6 billion --
20.3% -- during the second quarter to $10.4 billion, based on
unaudited figures.

According to the FDIC, the reduction in the DIF was primarily due
to an $11.6 billion increase in loss provisions for bank failures.
Twenty-four insured institutions with combined assets of
$26.4 billion failed during the second quarter of 2009, the
largest number of quarterly failures since the fourth quarter of
1992, when 42 insured institutions failed.  For 2009 through the
end of the second quarter, 45 insured institutions with combined
assets of $35.9 billion failed at an estimated current cost to the
DIF of $10.5 billion.

                 Problem Institutions      Failed Institutions
                 --------------------      -------------------
  Year           Number  Assets (Mil)      Number  Assets (Mil)
  ----           ------  ------------      ------  ------------
  Q2'09             416      $299,800          24        $26,400
  Q1'09             305      $220,047          21         $9,498
  2008              252      $159,405          25       $371,945
  2007               76       $22,189           3         $2,615
  2006               50        $8,265           0             $0
  2005               52        $6,607           0             $0
  2004               80       $28,250           4           $170

A copy of the FDIC's Quarterly Banking Profile for the second
quarter of 2009 is available for free at:

        http://bankrupt.com/misc/FDIC_QBP_2Q_09.pdf

                      2009 Failed Banks List

The FDIC was appointed as receiver for the closed banks.  To
protect the depositors, the FDIC entered into a purchase and
assumption agreement with various banks that agreed to assume the
deposits of most of the closed banks.  The FDIC also entered into
loss-share transactions on assets bought by the banks.

                                 Loss-Share
                                 Transaction Party     FDIC Cost
                    Assets of    Bank That Assumed   to Insurance
                    Closed Bank  Deposits & Bought      Fund
  Closed Bank       (millions)   Certain Assets       (millions)
  -----------       ----------   --------------      -----------
Brickwell Community      $72.0    CorTrust Bank            $22.0
Corus Bank, NA        $7,000.0    MB Fin'l              $1,700.0
Venture Bank            $970.0    First-Citizens          $298.0
First State Bank        $105.0    Sunwest Bank             $47.0
Vantus Bank             $458.0    Great Southern          $168.0
First Bank, Kansas       $16.0    Great American            $6.0
Platinum Community      $345.6    -- None --              $114.3
InBank                  $212.0    MB Financial             $66.0
Mainstreet Bank         $459.0    Central Bank             $95.0
Affinity Bank         $1,000.0    Pacific Western         $254.0
Bradford Bank           $452.0    M&T Buffalo              $97.0
First Coweta Bank       $167.0    United Bank              $48.0
Guaranty Bank        $13,000.0    BBVA Compass          $3,000.0
CapitalSouth Bank       $617.0    IBERIABANK              $151.0
ebank, Atlanta, GA      $143.0    Stearns Bank            $163.0
Colonial Bank        $25,000.0    BB&T                  $2,800.0
Union Bank, N.A.        $124.0    MidFirst                 $61.0
Community Bank Nev    $1,520.0    FDIC-Created            $781.5
Community Bank Ariz     $158.5    MidFirst Bank            $25.5
Dwelling House           $13.4    PNC Bank, N.A.            $6.8
First State Bank        $463.0    Stearns Bank, N.A.      $116.0
Community National       $97.0    Stearns Bank, N.A.       $24.0
Community First         $209.0    Home Federal             $45.0
Integrity Bank          $119.0    Stonegate Bank,          $46.0
Mutual Bank           $1,600.0    United Central          $696.0
First BankAmericano     $166.0    Crown Bank               $15.0
First State, Altus      $103.4    Herring Bank, Amarillo   $25.2
Peoples Community       $705.8    First Financial Bank    $129.5
Waterford Village        $61.4    Evans Bank, N.A.          $5.6
SB - Gwinnett       }             State Bank & Trust   }
SB - North Fulton   }             State Bank & Trust   }
SB - Jones County   } $2,800.0    State Bank & Trust   }  $807.0
SB - Houston County }             State Bank & Trust   }
SB - North Metro    }             State Bank & Trust   }
SB - Bibb County    }             State Bank & Trust   }
Temecula Valley       $1,500.0    First-Citizen           $391.0
Vineyard Bank         $1,900.0    Calif. Bank             $579.0
BankFIrst, Sioux        $275.0    Alerus Financial         $91.0
First Piedmont          $115.0    First American           $29.0
Bank of Wyoming          $70.0    Central Bank             $27.0
John Warner Bank         $70.0    State Bank               $10.0
1st State Winchest.      $36.0    First Nat'l               $6.0
Rock River Bank          $77.0    Harvard State            $27.6
Elizabeth State          $55.5    Galena State             $11.2
1st Nat'l Danville      $166.0    First Financial          $24.0
Founders Bank           $962.5    PrivateBank             $188.5
Millennium State        $118.0    State Bank of Tex        $47.0
Mirae Bank              $456.0    Wilshire State Bank      $50.0
Metro Pacific Bank       $80.0    Sunwest Bank, Tustin     $29.0
Horizon Bank             $87.6    Stearns Bank, N.A.       $33.5
Neighborhood Comm       $221.6    CharterBank, West Point  $66.7
Community Bank          $199.4    -- None --               $85.0
First National Bank     $156.9    Bank of Kansas           $32.2
Cooperative Bank        $970.0    First Bank, Troy, N.C.  $217.0
Southern Community      $377.0    United Community        $114.0
Bank of Lincolnwood     $214.0    Republic Bank, Chicago   $83.0
Citizens National       $437.0    Morton Community        $106.0
Strategic Capital       $537.0    Midland States Bank     $173.0
BankUnited FSB       $12,800.0    WL Ross-Led Investors $4,900.0
Westsound Bank          $334.6    Kitsap Bank             $108.0
America West            $299.4    Cache Valley Bank       $119.4
Citizens Community       $45.1    N.J. Community Bank      $18.1
Silverton Bank        $4,100.0    -- None --            $1,300.0
First Bank of Id        $488.9    US Bank, Minneapolis    $191.2
First Bank of BH      $1,500.0    -- None --              $394.0
Heritage Bank           $184.6    Level One Bank           $71.3
American Southern       $112.3    Bank of North Georgia    $41.9
Great Basin Bank        $270.9    Nevada State Bank        $42.0
American Sterling       $181.0    Metcalf Bank, Lee        $42.0
New Frontier Bank     $2,000.0    -- None --              $670.0
Cape Fear Bank          $492.0    First Federal,          $131.0
Omni National           $956.0    -- None --              $290.0
TeamBank, N.A.          $669.8    Great Southern Bank      $98.0
Colorado National       $123.5    Herring Bank, Amarillo    $9.0
FirstCity Bank          $297.0    -- None --              $100.0
Freedom Bank            $173.0    Nat'l Georgia Bank       $36.2
Security Savings        $238.3    Bank of Nevada, L.V.     $59.1
Heritage Community      $232.9    MB Financial Bank, N.A.  $41.6
Silver Falls            $131.4    Citizens Bank            $50.0
Pinnacle Bank            $73.0    Washington Trust Bank    $12.1
Corn Belt Bank          $271.8    Carlinville Nat'l Bank  $100.0
Riverside Bank          $539.0    TIB Bank                $201.5
Sherman County          $129.8    Heritage Bank            $28.0
County Bank           $1,700.0    Westamerica Bank        $135.0
Alliance Bank         $1,140.0    California Bank & Trust $206.0
FirstBank Fin'l         $337.0    Regions Bank            $111.0
Ocala National          $223.5    CenterState Bank         $99.6
Suburban Federal        $360.0    Bank of Essex           $126.0
MagnetBank              $292.2    -- None --              $119.4
1st Centennial          $803.3    First California Bank   $227.0
Bank of Clark           $446.5    Umpqua Bank       $120.0-145.0
Nat'l Commerce          $430.9    Republic Bank of Chi.    $97.1

In 2008, 25 banks with total assets of $372 billion failed.
IndyMac Bank, FSB, was closed by the Office of Thrift Supervision
on July 11, and the FDIC was named conservator.  At the time it
was closed, IndyMac's assets of $32 billion made it the second
largest bank failure in FDIC history.

A complete list of banks that failed since 2000 is available at:

  http://www.fdic.gov/bank/individual/failed/banklist.html


* Canadian July Bankruptcies Rise 36% on Year, Slowing From June
----------------------------------------------------------------
Theophilos Argitis at Bloomberg reports that Canadian bankruptcies
rose at a slower annual pace in July than a month earlier, as
fewer consumers gave up paying their bills during the month.  The
number of bankruptcies filed by consumers and businesses in Canada
rose 36 percent to 10,726 in July from a year ago, the country's
bankruptcy superintendent reported on its Web site.  Bankruptcies
were up at an annual pace of 52 percent in June.


* Diary of a Crisis II: Bear, Lehman and Into the Abyss
-------------------------------------------------------
"As we approach the one-year anniversary of Lehman's demise, it is
useful to take a look back and remember how fragile financial
markets and the economy were prior to the company's failure: one
of Wall Street's oldest and most venerable investment banks, Bear
Stearns, was wiped out of existence; a run on IndyMac resulted in
the second largest bank failure to date; and, the very backbone of
the mortgage industry -- Fannie Mae and Freddie Mac -- were taken
into conservatorship by the U.S. Treasury on account of their
liquidity problems.  Add to that a bankruptcy the magnitude of
Lehman, and it is a bit of a shock that we didn't slip into
another Great Depression," says Diane Swonk, chief economist of
Mesirow Financial, in her September edition of Themes on the
Economy, located at http://researcharchives.com/t/s?44a6

Ms. Swonk's September newsletter is a sequel to the August issue
of Themes on the Economy, both of which are part of an extensive
research project that she is currently carrying out.

"We may have been able to avoid the massacre that occurred in the
fall of 2008. For all the missteps, however, it seems painfully
clear that we would have suffered an even worse fate if policy
makers hadn't acted when they did:

"Rumors that mortgage losses were amassing at Bear Stearns began
to surface in February 2008. By early March, large hedge funds
were making enormous bets in the credit default swaps (CDS) market
against Bear.  The company's stock price, which traded at $100 per
share in late 2007, had slipped below $70 per share."

    * March 11, 2008: Fearing that the run on Bear and primary
      dealers was getting out of hand, the Fed launched a new
      lending facility.

    * March 12, 2008: Alan Schwartz, the CEO of Bear Stearns, made
      a plea on CNBC from his vacation home in Florida: "We're not
      . . . aware of anybody who is not taking our credit as a
      counterparty. We don't see any pressure on our liquidity,
      let alone a liquidity crisis."

"Many on Wall Street appeared to be rooting for Bear's demise.
Bear was the only major investment house that refused to help Long
Term Capital Management (LTCM) at the height of the 1998 financial
crisis and, as a result, had gained a reputation as a bully," says
Swonk.

    * March 14, 2008: Bear announced that it was courting its
      rival, JP Morgan Chase, and the federal government for an
      emergency bailout.

    * March 16, 2008: At approximately 7:00 p.m. CST (8:00 p.m.
      EST), the Fed announced that JP Morgan Chase had agreed to
      purchase Bear Stearns for the jaw-dropping price of $2 per
      share, contingent upon a transfer of about $30 billion in
      illiquid or "toxic" mortgage assets from Bear's balance
      sheet to that of the Fed.

    * March 17, 2008: The $2 per share strike price came under
      immediate fire .This, coupled with a side deal that Jamie
      [Jamie Dimon, chairman and CEO of JP Morgan Chase] did to
      buy a controlling stake of the company from Bear's board at
      $10 per share, forced Jamie to later renegotiate the offer
      to $10 per share.

    * March 18, 2008: The Federal Open Market Committee (FOMC)
      voted to lower the fed funds rate 75 basis points from 3% to
      2.25% in an effort to shore up markets in the wake of the
      Bear Stearns "sale."

    * April 30, 2008: The FOMC voted to lower the fed funds target
      another 25 basis points to 2%. Fisher [Richard Fisher of the
      Dallas Fed] and Plosser [Charlie Plosser of the Philadelphia
      Fed] dissented.

"Things looked a little better once the $150 billion in stimulus
checks started to hit consumer wallets. Nothing was left once we
got to the third quarter. Home values plunged, putting an end to
home equity borrowing and mortgage refinancing," notes Swonk.

    * July 8, 2008: Share prices at Fannie and Freddie plummeted
      more than 15% over concerns about loan defaults.

    * July 10, 2008: Fannie's and Freddie's share prices plunged
      further after Bloomberg reported that Bill Poole, former
      president of the St. Louis Fed, said that Fannie and Freddie
      were already insolvent.

    * July 11, 2008: At 3 p.m. PST (6 p.m. EST), the Office of
      Thrift Supervision (OTS) closed the Pasadena headquarters of
      IndyMac...

    * September 8, 2008: The Treasury put Fannie Mae and Freddie
      Mac into conservatorship.

    * September 10, 2008: Lehman announced a loss of $3.9 billion
      (after losing almost $3 billion in the second quarter). . .

    * September 11, 2008: Rumors that Lehman was now looking for a
      suitor intensified, and the stock price fell another 40%.
      The top two contenders were Barclays and Bank of America (B
      of A).

    * September 16, 2008: Barclays purchased much of Lehman's
      investment banking unit out of bankruptcy. . .AIG's stock
      price plummeted 32% by mid-day (it had already taken a 61%
      plunge the previous day) and was downgraded by three ratings
      agencies. . .losses were mounting too quickly for anyone but
      the government to step in.

"The panic that had taken hold of financial markets intensified.
Investors fled from investments that were associated with risk for
the relative "safety" of the U.S. Treasury market, and the yield
on treasury bills plummeted," says Swonk.

    * September 20, 2008: Treasury released a three-and-a-half-
      page draft, which would give the treasury secretary
      unprecedented authority. . .

    * September 21, 2008: Washington Mutual (WaMu) was merged into
      JP Morgan Chase, setting off a chain reaction of events, and
      further undermining the ability of banks to raise capital.
      The crisis was in full swing, and the worst was yet to come.

"Once Lehman fell there was nowhere for the economy to go but
down," says Swonk. The question was how far were we willing to
fall and how many lives were we willing to sacrifice before we did
something about it?"

The September issue of Themes on the Economy as well as archived
issues can be found at http://www.mesirowfinancial.com/

Mesirow Financial is a diversified financial services firm
headquartered in Chicago.  Founded in 1937, it is an independent,
employee-owned firm with more than $30 billion in assets under
management and 1,200 employees in locations across the country and
in London.  With expertise in Investment Management, Investment
Services, Insurance Services, Investment Banking, Consulting and
Real Estate, Mesirow Financial strives to meet the financial needs
of institutions, public sector entities, corporations and
individuals.


* IWIRC Seeks Woman of the Yr. in Restructuring Award Nominations
-----------------------------------------------------------------
The International Women's Insolvency and Restructuring
Confederation (IWIRC) is seeking nominations for its 2009 Woman of
the Year in Restructuring Award.  The purpose of the award is to
identify and recognize exceptional women across the globe who have
made extraordinary contributions to the insolvency and turnaround
profession.  Last year's award recipients were Marcia Goldstein, a
high-profile restructuring lawyer from Weil Gotshal & Manges in
New York and the Honorable Mary Grace Diehl of Atlanta.

Founded in 1994, IWIRC's mission is to enhance the professional
status and reputation of women in the insolvency practice.  IWIRC
provides opportunities for networking, professional development,
leadership and mentoring on the local and international levels.
The organization has more than 800 members worldwide, with 27
active networks in Asia-Pacific, Europe and North America.

Nominations can be submitted by any interested party.  The
deadline is October 26, 2009.  Nominees must be women who are
actively engaged or recently retired from the restructuring
industry and may include attorneys, turnaround managers, bankers,
investors, academics, and judges or other restructuring
professionals anywhere in the world.  Nominations should be
emailed to info@iwirc.com and include a statement of the
candidate's specific achievements.  Extraordinary performance,
leadership, innovative application of laws, negotiating skill,
creative restructuring strategies, teamwork, and support of other
women in the industry are just a few of the criteria that will be
considered.

IWIRC's Woman of the Year will be honored at the ABI's Winter
Leadership Conference on December 4, 2009, during a luncheon
featuring guest speaker syndicated columnist and best-selling
author Amity Shlaes.  More information can be found at
http://www.iwirc.com. Luncheon tickets are available through the
ABI's Winter Leadership Conference registration.  If you have
further questions, please Email info@IWIRC.com; fax 703-802-0207;
or call 703-449-1316.

The IWIRC International Board of Directors ratifies all selections
and its decisions are final.  As a non-profit entity, IWIRC looks
to industry leaders and institutions to support recognition
activities and, in the future, possible scholarships for students
pursuing an education in restructuring or a related field.
Potential sponsors may call 703-449-1316 or e-mail info@iwirc.com.
IWIRC is located at PMB 130, 10332 Main Street, Fairfax, Virginia
22030-2410.

IWIRC is the premier networking organization devoted to enhancing
the professional status of women in the practice of insolvency and
restructuring.


* BOND PRICING -- For The Week From September 7 to 11, 2009
-----------------------------------------------------------
Company               Coupon       Maturity    Bid Price
-------               ------       --------    ---------
155 E TROPICANA          8.75%      4/1/2012         3.03
ABITIBI-CONS FIN         7.88%      8/1/2009        13.00
ACCURIDE CORP            8.50%      2/1/2015        24.50
ADVANTA CAP TR           8.99%    12/17/2026         5.25
AHERN RENTALS            9.25%     8/15/2013        40.00
ALERIS INTL INC         10.00%    12/15/2016         1.00
AMBAC INC                9.38%      8/1/2011        59.75
AMBASSADORS INTL         3.75%     4/15/2027        38.50
AMER GENL FIN            4.00%     9/15/2009        99.05
AMER GENL FIN            4.00%    11/15/2009        93.93
AMER GENL FIN            4.30%     9/15/2009        99.50
AMER GENL FIN            4.50%     9/15/2009        97.52
AMER GENL FIN            5.00%     9/15/2009        99.88
AMER GENL FIN            5.00%    10/15/2010        65.00
AMER GENL FIN            5.45%     9/15/2009        98.00
AMER GENL FIN            8.75%     9/15/2012        38.00
AMR CORP                10.40%     3/10/2011        46.00
AMR CORP                10.45%     3/10/2011        47.00
AMR CORP                10.45%    11/15/2011        49.00
ANTHRACITE CAP          11.75%      9/1/2027        14.77
ANTIGENICS               5.25%      2/1/2025        39.04
ARCO CHEMICAL CO        10.25%     11/1/2010        43.50
BANK NEW ENGLAND         8.75%      4/1/1999         9.00
BANK NEW ENGLAND         9.88%     9/15/1999        10.06
BANKUNITED FINL          3.13%      3/1/2034         3.50
BELL MICROPRODUC         3.75%      3/5/2024        40.00
BELL MICROPRODUC         3.75%      3/5/2024        63.75
BOWATER INC              6.50%     6/15/2013        18.00
BOWATER INC              9.00%      8/1/2009        18.00
BOWATER INC              9.38%    12/15/2021        16.00
BOWATER INC              9.50%    10/15/2012        20.00
BROOKSTONE CO           12.00%    10/15/2012        39.50
CALLON PETROLEUM         9.75%     12/8/2010        39.00
CAPMARK FINL GRP         7.88%     5/10/2012        22.00
CAPMARK FINL GRP         8.30%     5/10/2017        22.00
CCH I LLC               10.00%     5/15/2014         1.00
CCH I LLC               12.13%     1/15/2015         1.00
CCH I LLC               13.50%     1/15/2014         1.63
CCH I/CCH I CP          11.00%     10/1/2015        14.50
CCH I/CCH I CP          11.00%     10/1/2015        14.00
CHAMPION ENTERPR         2.75%     11/1/2037        17.00
CHARTER COMM HLD        10.00%     5/15/2011         1.00
CHARTER COMM INC         6.50%     10/1/2027        44.00
CHENIERE ENERGY          2.25%      8/1/2012        39.38
CIT GROUP INC            3.85%    11/15/2009        71.90
CIT GROUP INC            3.95%    12/15/2009        63.10
CIT GROUP INC            4.05%     2/15/2010        60.88
CIT GROUP INC            4.25%      2/1/2010        68.07
CIT GROUP INC            4.25%     9/15/2010        58.20
CIT GROUP INC            4.30%     3/15/2010        60.00
CIT GROUP INC            4.30%     6/15/2010        28.00
CIT GROUP INC            4.35%     6/15/2010        57.44
CIT GROUP INC            4.40%     9/15/2009        98.00
CIT GROUP INC            4.45%     5/15/2010        60.57
CIT GROUP INC            4.60%     8/15/2010        60.00
CIT GROUP INC            4.63%    11/15/2009        71.90
CIT GROUP INC            4.75%    12/15/2010        64.55
CIT GROUP INC            4.80%    12/15/2009        55.00
CIT GROUP INC            4.85%    12/15/2009        63.25
CIT GROUP INC            4.85%     3/15/2010        61.00
CIT GROUP INC            4.85%    12/15/2011        46.50
CIT GROUP INC            4.90%     3/15/2010        46.25
CIT GROUP INC            4.90%    12/15/2010        52.00
CIT GROUP INC            4.90%     3/15/2011        48.00
CIT GROUP INC            5.00%    11/15/2009        69.00
CIT GROUP INC            5.00%    11/15/2009        64.20
CIT GROUP INC            5.00%    11/15/2009        73.75
CIT GROUP INC            5.00%    12/15/2010        58.15
CIT GROUP INC            5.00%     3/15/2011        55.00
CIT GROUP INC            5.00%     3/15/2011        44.00
CIT GROUP INC            5.00%    12/15/2011        52.50
CIT GROUP INC            5.00%     3/15/2012        49.00
CIT GROUP INC            5.00%     3/15/2012        47.23
CIT GROUP INC            5.05%    11/15/2009        66.00
CIT GROUP INC            5.05%     2/15/2010        50.15
CIT GROUP INC            5.05%     3/15/2010        47.55
CIT GROUP INC            5.05%    11/15/2010        56.75
CIT GROUP INC            5.05%    12/15/2010        61.00
CIT GROUP INC            5.05%     3/15/2011        52.50
CIT GROUP INC            5.15%     2/15/2010        63.50
CIT GROUP INC            5.15%     3/15/2010        65.00
CIT GROUP INC            5.15%     2/15/2011        50.23
CIT GROUP INC            5.15%     2/15/2011        50.00
CIT GROUP INC            5.15%     4/15/2011        44.25
CIT GROUP INC            5.15%     2/15/2012        50.00
CIT GROUP INC            5.20%     11/3/2010        65.50
CIT GROUP INC            5.20%     9/15/2011        49.00
CIT GROUP INC            5.25%     5/15/2010        59.00
CIT GROUP INC            5.25%     9/15/2010        50.33
CIT GROUP INC            5.25%    11/15/2010        53.23
CIT GROUP INC            5.25%    11/15/2010        53.23
CIT GROUP INC            5.25%    11/15/2010        61.00
CIT GROUP INC            5.25%    12/15/2010        54.00
CIT GROUP INC            5.25%    11/15/2011        53.38
CIT GROUP INC            5.25%    11/15/2011        52.00
CIT GROUP INC            5.25%    11/15/2011        52.00
CIT GROUP INC            5.25%     2/15/2012        50.00
CIT GROUP INC            5.30%     6/15/2010        51.00
CIT GROUP INC            5.35%     6/15/2011        53.00
CIT GROUP INC            5.35%     8/15/2011        47.40
CIT GROUP INC            5.40%     5/15/2011        53.75
CIT GROUP INC            5.45%     8/15/2010        61.00
CIT GROUP INC            5.50%     8/15/2010        50.63
CIT GROUP INC            5.60%     4/27/2011        61.75
CIT GROUP INC            5.75%     8/15/2012        42.75
CIT GROUP INC            5.80%     7/28/2011        61.88
CIT GROUP INC            6.25%     9/15/2009        98.61
CIT GROUP INC            6.25%    12/15/2009        61.63
CIT GROUP INC            6.25%     2/15/2010        60.00
CIT GROUP INC            6.50%    12/15/2009        68.77
CIT GROUP INC            6.50%     2/15/2010        60.00
CIT GROUP INC            6.50%     3/15/2010        50.29
CIT GROUP INC            6.50%    12/15/2010        58.10
CIT GROUP INC            6.50%     1/15/2011        52.00
CIT GROUP INC            6.50%     3/15/2011        53.00
CIT GROUP INC            6.60%     2/15/2011        51.50
CIT GROUP INC            6.75%     3/15/2011        53.50
CIT GROUP INC            7.00%     2/15/2012        47.50
CIT GROUP INC            7.25%     2/15/2012        50.00
CIT GROUP INC            7.25%     3/15/2012        50.00
CIT GROUP INC           12.00%    12/18/2018        24.38
CITADEL BROADCAS         4.00%     2/15/2011        17.50
CLEAR CHANNEL            4.40%     5/15/2011        56.55
CLEAR CHANNEL            4.50%     1/15/2010        90.00
CLEAR CHANNEL            5.75%     1/15/2013        37.00
CLEAR CHANNEL            6.25%     3/15/2011        64.00
COMPUCREDIT              3.63%     5/30/2025        40.23
COOPER-STANDARD          7.00%    12/15/2012        37.25
COOPER-STANDARD          8.38%    12/15/2014         5.88
COUNTRYWIDE FINL         5.20%     9/15/2009        98.60
CRAY INC                 3.00%     12/1/2024        92.25
CREDENCE SYSTEM          3.50%     5/15/2010        61.00
DAYTON SUPERIOR         13.00%     6/15/2009        20.00
DECODE GENETICS          3.50%     4/15/2011        11.00
DELPHI CORP              6.50%     8/15/2013         0.30
DEX MEDIA INC            8.00%    11/15/2013        18.50
DEX MEDIA INC            9.00%    11/15/2013        19.50
DEX MEDIA INC            9.00%    11/15/2013        19.00
DEX MEDIA WEST           9.88%     8/15/2013        20.00
DOWNEY FINANCIAL         6.50%      7/1/2014         5.00
DUNE ENERGY INC         10.50%      6/1/2012        48.00
EDDIE BAUER HLDG         5.25%      4/1/2014        12.00
FAIRPOINT COMMUN        13.13%      4/1/2018        18.50
FAIRPOINT COMMUN        13.13%      4/1/2018        18.00
FEDDERS NORTH AM         9.88%      3/1/2014         0.75
FIBERTOWER CORP          9.00%    11/15/2012        52.00
FINLAY FINE JWLY         8.38%      6/1/2012         1.00
FLEETWOOD ENTERP        14.00%    12/15/2011        30.25
FORD MOTOR CRED          5.00%     9/21/2009        99.55
FORD MOTOR CRED          5.00%     9/21/2009        99.00
FORD MOTOR CRED          7.50%     8/20/2010        71.86
FRANKLIN BANK            4.00%      5/1/2027         0.00
GENERAL MOTORS           7.13%     7/15/2013        11.97
GENERAL MOTORS           7.40%      9/1/2025        13.38
GENERAL MOTORS           7.70%     4/15/2016        13.05
GENERAL MOTORS           8.10%     6/15/2024        12.75
GENERAL MOTORS           8.25%     7/15/2023        13.50
GENERAL MOTORS           8.38%     7/15/2033        13.50
GENERAL MOTORS           8.80%      3/1/2021        12.75
GENERAL MOTORS           9.40%     7/15/2021        12.00
GENERAL MOTORS           9.45%     11/1/2011        13.38
GMAC LLC                 5.00%     9/15/2009        99.98
GMAC LLC                 7.00%     9/15/2009        98.26
GMAC LLC                 7.00%    10/15/2009        97.00
HAIGHTS CROSS OP        11.75%     8/15/2011        43.00
HAWAIIAN TELCOM          9.75%      5/1/2013         1.75
HAWAIIAN TELCOM         12.50%      5/1/2015         1.00
HERBST GAMING            7.00%    11/15/2014         4.38
HERBST GAMING            8.13%      6/1/2012         4.00
HILTON HOTELS            7.20%    12/15/2009        91.81
IDEARC INC               8.00%    11/15/2016         6.13
INDALEX HOLD            11.50%      2/1/2014         1.00
INN OF THE MOUNT        12.00%    11/15/2010        45.00
INTCOMEX INC            11.75%     1/15/2011        60.00
INTL LEASE FIN           3.50%     9/15/2009        99.20
ISTAR FINANCIAL          5.13%      4/1/2011        58.25
ISTAR FINANCIAL          5.15%      3/1/2012        50.75
ISTAR FINANCIAL          5.50%     6/15/2012        44.50
ISTAR FINANCIAL          5.80%     3/15/2011        62.00
ISTAR FINANCIAL          6.00%    12/15/2010        63.75
KEYSTONE AUTO OP         9.75%     11/1/2013        26.63
KNIGHT RIDDER            7.13%      6/1/2011        45.15
KNIGHT RIDDER            7.15%     11/1/2027        17.34
LASALLE FNDG LLC         5.00%     9/15/2009        99.00
LAZYDAYS RV             11.75%     5/15/2012        15.00
LEHMAN BROS HLDG         4.00%      8/3/2009         9.00
LEHMAN BROS HLDG         4.38%    11/30/2010        15.25
LEHMAN BROS HLDG         4.50%     7/26/2010        17.00
LEHMAN BROS HLDG         4.70%      3/6/2013        10.51
LEHMAN BROS HLDG         4.80%     3/13/2014        15.00
LEHMAN BROS HLDG         4.80%     6/24/2023        11.50
LEHMAN BROS HLDG         5.00%     1/14/2011        15.25
LEHMAN BROS HLDG         5.00%     1/22/2013        12.75
LEHMAN BROS HLDG         5.00%     2/11/2013        10.30
LEHMAN BROS HLDG         5.00%     3/27/2013         6.95
LEHMAN BROS HLDG         5.00%      8/3/2014        10.00
LEHMAN BROS HLDG         5.00%      8/5/2015        12.00
LEHMAN BROS HLDG         5.00%     5/28/2023        11.75
LEHMAN BROS HLDG         5.00%     5/30/2023        10.00
LEHMAN BROS HLDG         5.00%     6/10/2023        10.50
LEHMAN BROS HLDG         5.00%     6/17/2023        12.20
LEHMAN BROS HLDG         5.10%     1/28/2013        10.00
LEHMAN BROS HLDG         5.10%     2/15/2020         9.20
LEHMAN BROS HLDG         5.15%      2/4/2015         9.50
LEHMAN BROS HLDG         5.20%     5/13/2020        12.25
LEHMAN BROS HLDG         5.25%      2/6/2012        15.00
LEHMAN BROS HLDG         5.25%     1/30/2014         8.23
LEHMAN BROS HLDG         5.25%     2/11/2015        12.00
LEHMAN BROS HLDG         5.25%      3/5/2018         8.25
LEHMAN BROS HLDG         5.25%      3/8/2020        12.20
LEHMAN BROS HLDG         5.25%     5/20/2023        11.75
LEHMAN BROS HLDG         5.35%     2/25/2018        11.63
LEHMAN BROS HLDG         5.35%     3/13/2020         9.00
LEHMAN BROS HLDG         5.35%     6/14/2030        11.16
LEHMAN BROS HLDG         5.38%      5/6/2023        12.20
LEHMAN BROS HLDG         5.40%      3/6/2020        12.00
LEHMAN BROS HLDG         5.40%     3/20/2020        12.00
LEHMAN BROS HLDG         5.40%     3/30/2029         9.40
LEHMAN BROS HLDG         5.40%     6/21/2030        12.05
LEHMAN BROS HLDG         5.45%     3/15/2025        12.00
LEHMAN BROS HLDG         5.45%      4/6/2029        12.00
LEHMAN BROS HLDG         5.45%     2/22/2030        12.20
LEHMAN BROS HLDG         5.45%     7/19/2030        12.20
LEHMAN BROS HLDG         5.45%     9/20/2030        12.25
LEHMAN BROS HLDG         5.50%      4/4/2016        16.50
LEHMAN BROS HLDG         5.50%      2/4/2018        12.00
LEHMAN BROS HLDG         5.50%     2/19/2018        12.20
LEHMAN BROS HLDG         5.50%     11/4/2018        12.00
LEHMAN BROS HLDG         5.50%     2/27/2020        10.75
LEHMAN BROS HLDG         5.50%     8/19/2020        12.20
LEHMAN BROS HLDG         5.50%     3/14/2023        11.93
LEHMAN BROS HLDG         5.50%      4/8/2023        11.75
LEHMAN BROS HLDG         5.50%     4/15/2023         9.51
LEHMAN BROS HLDG         5.50%     4/23/2023        11.75
LEHMAN BROS HLDG         5.50%      8/5/2023        11.88
LEHMAN BROS HLDG         5.50%     10/7/2023        11.93
LEHMAN BROS HLDG         5.50%     1/27/2029         8.75
LEHMAN BROS HLDG         5.50%      2/3/2029        12.00
LEHMAN BROS HLDG         5.50%      8/2/2030         9.75
LEHMAN BROS HLDG         5.55%     2/11/2018        12.00
LEHMAN BROS HLDG         5.55%      3/9/2029        12.00
LEHMAN BROS HLDG         5.55%     1/25/2030        12.05
LEHMAN BROS HLDG         5.55%     9/27/2030        12.63
LEHMAN BROS HLDG         5.55%    12/31/2034        12.20
LEHMAN BROS HLDG         5.60%     1/22/2018        12.00
LEHMAN BROS HLDG         5.60%     9/23/2023        11.00
LEHMAN BROS HLDG         5.60%     2/17/2029        11.22
LEHMAN BROS HLDG         5.60%     2/24/2029        12.20
LEHMAN BROS HLDG         5.60%      3/2/2029        11.05
LEHMAN BROS HLDG         5.60%     2/25/2030        12.00
LEHMAN BROS HLDG         5.60%      5/3/2030        12.00
LEHMAN BROS HLDG         5.63%     1/24/2013        17.13
LEHMAN BROS HLDG         5.63%     3/15/2030        12.20
LEHMAN BROS HLDG         5.65%    11/23/2029        11.38
LEHMAN BROS HLDG         5.65%     8/16/2030         8.00
LEHMAN BROS HLDG         5.65%    12/31/2034        12.94
LEHMAN BROS HLDG         5.70%     1/28/2018        12.00
LEHMAN BROS HLDG         5.70%     2/10/2029        12.30
LEHMAN BROS HLDG         5.70%     4/13/2029        12.20
LEHMAN BROS HLDG         5.70%      9/7/2029        12.20
LEHMAN BROS HLDG         5.70%    12/14/2029        12.50
LEHMAN BROS HLDG         5.75%     4/25/2011        15.00
LEHMAN BROS HLDG         5.75%     7/18/2011        14.75
LEHMAN BROS HLDG         5.75%     5/17/2013        15.80
LEHMAN BROS HLDG         5.75%      1/3/2017         0.01
LEHMAN BROS HLDG         5.75%     3/27/2023         9.25
LEHMAN BROS HLDG         5.75%    10/15/2023        12.94
LEHMAN BROS HLDG         5.75%    10/21/2023        12.30
LEHMAN BROS HLDG         5.75%    11/12/2023         9.20
LEHMAN BROS HLDG         5.75%    11/25/2023        12.75
LEHMAN BROS HLDG         5.75%    12/16/2028        10.10
LEHMAN BROS HLDG         5.75%    12/23/2028        11.75
LEHMAN BROS HLDG         5.75%     8/24/2029        12.20
LEHMAN BROS HLDG         5.75%     9/14/2029        12.00
LEHMAN BROS HLDG         5.75%    10/12/2029        12.01
LEHMAN BROS HLDG         5.75%     3/29/2030        11.88
LEHMAN BROS HLDG         5.80%      9/3/2020        12.25
LEHMAN BROS HLDG         5.80%    10/25/2030        11.75
LEHMAN BROS HLDG         5.85%     11/8/2030        10.22
LEHMAN BROS HLDG         5.88%    11/15/2017        15.38
LEHMAN BROS HLDG         5.90%      5/4/2029        11.75
LEHMAN BROS HLDG         5.90%      2/7/2031        13.00
LEHMAN BROS HLDG         5.95%    12/20/2030        12.25
LEHMAN BROS HLDG         6.00%     7/19/2012        15.03
LEHMAN BROS HLDG         6.00%    12/18/2015         8.06
LEHMAN BROS HLDG         6.00%     2/12/2018        11.50
LEHMAN BROS HLDG         6.00%     1/22/2020        12.00
LEHMAN BROS HLDG         6.00%     2/12/2020        12.00
LEHMAN BROS HLDG         6.00%     1/29/2021        12.75
LEHMAN BROS HLDG         6.00%    10/23/2028        11.50
LEHMAN BROS HLDG         6.00%    11/18/2028        12.20
LEHMAN BROS HLDG         6.00%     5/11/2029        12.63
LEHMAN BROS HLDG         6.00%     7/20/2029         5.00
LEHMAN BROS HLDG         6.00%     3/21/2031         8.06
LEHMAN BROS HLDG         6.00%     4/30/2034         8.02
LEHMAN BROS HLDG         6.00%     7/30/2034        12.20
LEHMAN BROS HLDG         6.00%     2/21/2036        12.25
LEHMAN BROS HLDG         6.00%     2/24/2036        12.05
LEHMAN BROS HLDG         6.00%     2/12/2037        12.20
LEHMAN BROS HLDG         6.05%     6/29/2029        11.00
LEHMAN BROS HLDG         6.10%     8/12/2023        12.20
LEHMAN BROS HLDG         6.15%     4/11/2031        12.00
LEHMAN BROS HLDG         6.20%     9/26/2014        16.50
LEHMAN BROS HLDG         6.20%     6/15/2027        11.00
LEHMAN BROS HLDG         6.20%     5/25/2029        10.15
LEHMAN BROS HLDG         6.25%      2/5/2021        12.50
LEHMAN BROS HLDG         6.25%     2/22/2023        10.00
LEHMAN BROS HLDG         6.40%    10/11/2022        11.50
LEHMAN BROS HLDG         6.40%    12/19/2036        15.00
LEHMAN BROS HLDG         6.50%     7/19/2017         0.02
LEHMAN BROS HLDG         6.50%     2/28/2023        10.03
LEHMAN BROS HLDG         6.50%      3/6/2023        12.94
LEHMAN BROS HLDG         6.50%    10/18/2027        12.25
LEHMAN BROS HLDG         6.50%    10/25/2027        11.93
LEHMAN BROS HLDG         6.50%    11/15/2032        12.75
LEHMAN BROS HLDG         6.50%     1/17/2033        10.50
LEHMAN BROS HLDG         6.50%     2/13/2037        10.83
LEHMAN BROS HLDG         6.50%     6/21/2037        12.20
LEHMAN BROS HLDG         6.50%     7/13/2037        11.25
LEHMAN BROS HLDG         6.60%     10/3/2022        12.94
LEHMAN BROS HLDG         6.63%     1/18/2012        15.00
LEHMAN BROS HLDG         6.63%     7/27/2027         9.09
LEHMAN BROS HLDG         6.75%    12/28/2017         0.01
LEHMAN BROS HLDG         6.75%      7/1/2022        12.20
LEHMAN BROS HLDG         6.75%    11/22/2027        10.00
LEHMAN BROS HLDG         6.75%     3/11/2033         7.78
LEHMAN BROS HLDG         6.75%    10/26/2037        12.75
LEHMAN BROS HLDG         6.80%      9/7/2032        11.18
LEHMAN BROS HLDG         6.85%     8/16/2032        12.25
LEHMAN BROS HLDG         6.85%     8/23/2032        12.00
LEHMAN BROS HLDG         6.88%      5/2/2018        18.60
LEHMAN BROS HLDG         6.88%     7/17/2037         0.01
LEHMAN BROS HLDG         6.90%      9/1/2032         5.55
LEHMAN BROS HLDG         7.00%     4/16/2019        11.05
LEHMAN BROS HLDG         7.00%     5/12/2023        11.00
LEHMAN BROS HLDG         7.00%     10/4/2032        12.00
LEHMAN BROS HLDG         7.00%     7/27/2037        14.00
LEHMAN BROS HLDG         7.00%     9/28/2037        11.00
LEHMAN BROS HLDG         7.00%    12/28/2037        10.00
LEHMAN BROS HLDG         7.00%     1/31/2038        10.50
LEHMAN BROS HLDG         7.00%      2/1/2038        11.07
LEHMAN BROS HLDG         7.00%      2/7/2038        11.63
LEHMAN BROS HLDG         7.00%      2/8/2038        10.00
LEHMAN BROS HLDG         7.00%     4/22/2038        11.00
LEHMAN BROS HLDG         7.05%     2/27/2038         9.15
LEHMAN BROS HLDG         7.20%     8/15/2009        15.00
LEHMAN BROS HLDG         7.25%     2/27/2038         9.10
LEHMAN BROS HLDG         7.35%      5/6/2038         8.93
LEHMAN BROS HLDG         7.73%    10/15/2023        12.88
LEHMAN BROS HLDG         7.88%     8/15/2010        14.50
LEHMAN BROS HLDG         8.00%      3/5/2022         8.25
LEHMAN BROS HLDG         8.05%     1/15/2019        12.88
LEHMAN BROS HLDG         8.40%     2/22/2023        12.50
LEHMAN BROS HLDG         8.50%      8/1/2015        15.00
LEHMAN BROS HLDG         8.50%     6/15/2022         8.00
LEHMAN BROS HLDG         8.75%    12/21/2021        11.00
LEHMAN BROS HLDG         8.75%      2/6/2023        12.25
LEHMAN BROS HLDG         8.80%      3/1/2015        16.00
LEHMAN BROS HLDG         8.92%     2/16/2017        12.00
LEHMAN BROS HLDG         9.00%    12/28/2022        11.00
LEHMAN BROS HLDG         9.50%    12/28/2022        11.88
LEHMAN BROS HLDG         9.50%     1/30/2023        11.00
LEHMAN BROS HLDG         9.50%     2/27/2023        10.64
LEHMAN BROS HLDG        10.00%     3/13/2023        13.50
LEHMAN BROS HLDG        11.00%    10/25/2017        11.25
LEHMAN BROS HLDG        11.00%     6/22/2022        12.75
LEHMAN BROS HLDG        11.50%     9/26/2022        13.38
LIFECARE HOLDING         9.25%     8/15/2013        42.50
LTX-CREDENCE             3.50%     5/15/2011        35.00
MAJESTIC STAR            9.50%    10/15/2010        63.00
MAJESTIC STAR            9.75%     1/15/2011         6.84
MASHANTUCKET PEQ         8.50%    11/15/2015        26.25
MCCLATCHY CO            15.75%     7/15/2014        47.75
MERISANT CO              9.50%     7/15/2013        12.30
MERRILL LYNCH            0.00%      3/9/2011        94.25
METALDYNE CORP          11.00%     6/15/2012         2.31
MILLENNIUM AMER          7.63%    11/15/2026        11.38
MORRIS PUBLISH           7.00%      8/1/2013         8.00
NEFF CORP               10.00%      6/1/2015         8.00
NEW PLAN REALTY          7.97%     8/14/2026        19.00
NEWARK GROUP INC         9.75%     3/15/2014         5.00
NEWPAGE CORP            10.00%      5/1/2012        54.50
NEWPAGE CORP            12.00%      5/1/2013        37.00
NORTH ATL TRADNG         9.25%      3/1/2012        23.00
NTK HOLDINGS INC        10.75%      3/1/2014         2.69
OXFORD INDUSTRY         11.38%     7/15/2015        12.13
PAC-WEST TELECOM        13.50%      2/1/2009         4.00
PANOLAM INDUSTRI        10.75%     10/1/2013         5.00
PLY GEM INDS             9.00%     2/15/2012        48.00
POPE & TALBOT            8.38%      6/1/2013         0.51
QUALITY DISTRIBU         9.00%    11/15/2010        65.00
QUANTUM CORP             4.38%      8/1/2010        61.00
RADIO ONE INC            6.38%     2/15/2013        33.25
RADIO ONE INC            8.88%      7/1/2011        46.75
RAFAELLA APPAREL        11.25%     6/15/2011        30.25
READER'S DIGEST          9.00%     2/15/2017         2.63
RESIDENTIAL CAP          8.00%     2/22/2011        59.97
RESIDENTIAL CAP          8.38%     6/30/2010        70.00
RH DONNELLEY             6.88%     1/15/2013         6.25
RH DONNELLEY             6.88%     1/15/2013         6.00
RH DONNELLEY             6.88%     1/15/2013         4.25
RH DONNELLEY             8.88%     1/15/2016         6.00
RH DONNELLEY             8.88%    10/15/2017         6.00
ROTECH HEALTHCA          9.50%      4/1/2012        19.80
SECURITY BENEFIT         7.45%     10/1/2033        13.13
SECURITY BENEFIT         8.75%     5/15/2016        19.13
SIX FLAGS INC            4.50%     5/15/2015         8.75
SIX FLAGS INC            9.63%      6/1/2014        10.95
SIX FLAGS INC            9.75%     4/15/2013         7.50
SPHERIS INC             11.00%    12/15/2012        43.00
STATION CASINOS          6.00%      4/1/2012        31.75
STATION CASINOS          6.50%      2/1/2014         3.13
STATION CASINOS          6.63%     3/15/2018         4.00
STATION CASINOS          6.88%      3/1/2016         2.63
TEKNI-PLEX INC          12.75%     6/15/2010        68.25
THORNBURG MTG            8.00%     5/15/2013         2.00
TIMES MIRROR CO          6.61%     9/15/2027         5.00
TIMES MIRROR CO          7.25%      3/1/2013         6.74
TIMES MIRROR CO          7.50%      7/1/2023         6.00
TOUSA INC                7.50%     1/15/2015         0.50
TOUSA INC                9.00%      7/1/2010        10.00
TOYOTA-CALL09/09         5.45%     9/20/2017        99.00
TRANSMERIDIAN EX        12.00%    12/15/2010         6.75
TRIBUNE CO               4.88%     8/15/2010         8.06
TRIBUNE CO               5.25%     8/15/2015         6.75
TRIBUNE CO               5.67%     12/8/2008         7.00
TRONOX WORLDWIDE         9.50%     12/1/2012        38.95
TRUE TEMPER              8.38%     9/15/2011         1.00
TRUMP ENTERTNMNT         8.50%      6/1/2015         9.00
TXU CORP                 4.80%    11/15/2009        90.00
UAL CORP                 4.50%     6/30/2021        58.00
UAL CORP                 5.00%      2/1/2021        52.00
USFREIGHTWAYS            8.50%     4/15/2010        38.50
VERASUN ENERGY           9.38%      6/1/2017        14.00
VERENIUM CORP            5.50%      4/1/2027        44.50
VESTA INSUR GRP          8.75%     7/15/2025         0.73
VION PHARM INC           7.75%     2/15/2012        25.50
VISTEON CORP             7.00%     3/10/2014        11.06
WASH MUT BANK FA         5.13%     1/15/2015         0.55
WASH MUT BANK FA         5.65%     8/15/2014         0.61
WASH MUT BANK NV         5.50%     1/15/2013         0.25
WASH MUT BANK NV         5.55%     6/16/2010        29.50
WASH MUTUAL INC          4.20%     1/15/2010        86.50
WASH MUTUAL INC          8.25%      4/1/2010        69.00
WCI COMMUNITIES          4.00%      8/5/2023         1.56
WCI COMMUNITIES          6.63%     3/15/2015         4.00
WCI COMMUNITIES          7.88%     10/1/2013         1.00
WCI COMMUNITIES          9.13%      5/1/2012         1.25
WILLIAM LYON             7.63%    12/15/2012        43.25
WILLIAM LYONS            7.50%     2/15/2014        34.20
WILLIAM LYONS            7.63%    12/15/2012        41.00
WILLIAM LYONS           10.75%      4/1/2013        45.00
WISE METALS GRP         10.25%     5/15/2012        47.00
YELLOW CORP              5.00%      8/8/2023        29.00



                           *********

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

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

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

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

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

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

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

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

                           *********

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

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland,
USA.  Danilo Munnoz, Joseph Medel C. Martirez, Denise Marie
Varquez, Philline Reluya, Ronald C. Sy, Joel Anthony G. Lopez,
Cecil R. Villacampa, Sheryl Joy P. Olano, Carlo Fernandez,
Christopher G. Patalinghug, and Peter A. Chapman, Editors.

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

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

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

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