TCR_Public/091019.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, October 19, 2009, Vol. 13, No. 289

                            Headlines

ABITIBIBOWATER INC: Camire Wants to Represent Canadian Employees
ABITIBIBOWATER INC: CCAA Case is Main Proceeding for ACI & ACC
ABITIBIBOWATER INC: Riverside Buys $257,000 in Claims
ACCURIDE CORP: Bank Debt Trades at 2% Off in Secondary Market
ADVANCED MICRO: Posts $128MM Q3 Stockholders' Net Loss

AIRTRAN HOLDINGS: Sells $115 Mil. of 5.25% Convertible Sr. Notes
AMERICAN AXLE: Eyes Issuance of $500 Mil. in Securities
AMERICAN HOME: Settles WARN Class Action for $6.5 Million
AMERICAN INT'L: May Pay Future Settlement of Case Against Ex-CEO
ASSET RESOLUTION: Voluntary Chapter 11 Case Summary

AVAYA INC: Bank Debt Trades at 18% Off in Secondary Market
AVIS BUDGET: Bank Debt Trades at 6% Off in Secondary Market
AVIZA TECHNOLOGY: Gets Continued Access to Lenders Cash Collateral
BAKERY CAFE: Expects to Emerge from Bankruptcy
BANKUNITED FIN'L: All Proofs of Claim Due November 17

BERNARD MADOFF: Prosecutors Want DiPascali's Bail Reconsidered
BEST OF NEW ORLEANS: Expects to Emerge from Bankruptcy
BLOCKBUSTER INC: Trivium Reports 0% Equity Stake
BUNDY 2.5 MILLION SPE: Voluntary Chapter 11 Case Summary
BURLINGTON COAT: Records $23.4 Mil. Net Loss for August 29 Qtr

CANWEST GLOBAL: CMI Has Until Oct. 22 to Transfer National Post
CANWEST GLOBAL: TSX to Delist Subordinate Voting Shares on Nov. 13
CANWEST GLOBAL: OpenMedia.ca, Council Worry on Foreign Ownership
CAPTAIN'S TABLE: Expects to Emerge from Bankruptcy
CENTENNIAL COMMUNICATIONS: Has $19.5MM Net Income for Aug. 31 Qtr

CEQUEL COMMUNICATIONS: Moody's Raises Corp. Family Rating to 'B1'
CHEMTURA CORP: Assumes Mineral Rights, Land-Access Leases
CHINA AOXING: Paritz & Company Raises Going Concern Doubt
CHINA SXAN: Patrizio & Zhao Raises Going Concern Doubt
CHAMPION ENTERPRISES: S&P Downgrades Corp. Credit Rating to 'D'

CHRYSLER LLC: Treasury Balks at $33M Fees in Old Carco Ch. 11
CIB MARINE: Seeks to Retain Baker Tilly as Financial Advisor
CIRCUIT CITY: Insurers Reach Deal on Hurricane Claims
CIT GROUP: Amends Restructuring Plan to Win Bondholder Support
CITIZENS FIRST: Receives NASDAQ Non-Compliance Notice

CITY OF VALLEJO: Spending to Raise Deficit to $12MM in 5 Years
CHEMTURA CORP: PBGC to File Consolidated Claim
CHEMTURA CORP: Proposes to Reject Bio-Lab Lease With Ashley
CHEMTURA CORP: U.S. Bank to File Consolidated Claim
CLAIRE'S STORES: Bank Debt Trades at 22% Off in Secondary Market

CLEARWIRE CORP: Bank Debt Trades at 2.45% Off in Secondary Market
CONSECO INC: Commences Cash Tender Offer for 3.5% Debentures
COLONIAL BANCGROUP: Gets Final Approval to Access Cash Collateral
COMPAK COMPANIES: District Court Says Patent Sale Was Defective
COYOTES HOCKEY: Possible Buyer Sees Potential in Franchise

CURTIS MACHINE COMPANY: Voluntary Chapter 11 Case Summary
DANA HOLDING: Bank Debt Trades at 10.4% Off in Secondary Market
DAVID THIEL JOHNSON: Case Summary & 20 Largest Unsecured Creditors
DECKER COLLEGE: Vendetta, Agency's Lies Allegedly Caused Collapse
DEX MEDIA WEST: Bank Debt Trades at 14% Off in Secondary Market

DIOCESE OF WILMINGTON: Files for Chapter 11 Reorganization
DOLLAR THRIFTY: Expects Rental Revenues to Drop 12% in 3Q 2009
ELODA CORP: Completes Sale of Assets to Partnership
EXTENDICARE REAL ESTATE: Moody's Affirms 'B1' Corp. Family Rating
EXTERRA ENERGY: Malone & Bailey Raises Going Concern Doubt

FAIRPOINT COMMS: Bank Debt Trades at 19.5% Off in Secondary Market
FILENE'S BASEMENT: Fendi Cries Foul Over $70M Filene's, DSW Deal
FINLAY ENTERPRISES: Joyce Magrini Resigns as Exec. Vice President
FINLAY ENTERPRISES: Wants to Sale of De Minimis Assets Approved
FIRST PRIORITY BANK: FDIC Orders Auction of FF&E

FLINT TELECOM: L.L. Bradford Raises Going Concern Doubt
FORD MOTOR: Bank Debt Trades at 11.35% Off in Secondary Market
FOOTHILLS OF FERNLEY: Case Summary & 7 Largest Unsecured Creditors
FOUNTAIN POWERBOAT: Liberty Investments to be Majority Shareholder
FOX HILLS SPE: Voluntary Chapter 11 Case Summary

FREEDOM BANK, BRADENTON: FDIC Orders Auction of FF&E
GARRETT-BECK CORPORATION: Voluntary Chapter 11 Case Summary
GATEHOUSE MEDIA: Bank Debt Trades at 65% Off in Secondary Market
GATEWAY ETHANOL: Equipment Lease Not a Disguised Sale Transaction
GENERAL GROWTH: Judge Grants Bankrupt Mall Group $57.5M in Bonuses

GENERAL MOTORS: Asbestos Claimants Objection to Remy Plea Stays
GENERAL MOTORS: Detroit Diesel Fails to Win Stay From Suits
GENERAL MOTORS: Reynolds Want Lift Stay to Enforce Judgment
GENERAL MOTORS: Should Reconsider Opel Bids, EU Says
GEORGIA GULF: Bank Debt Trades at 0.57% Off in Secondary Market

GREENSHIFT CORP: Restates Second Quarter 2009 Financial Statements
GSC INVESTMENT: Adverse Credit Events in Portfolio to Continue
HARVEST OIL: Can Access Lenders Cash Collateral until November 13
HARRAH'S ENTERTAINMENT: HOC Funds $1 Bil. Incremental Term Loans
HAWKER BEECHCRAFT: Bank Debt Trades at 23.66% Off

HFAH MONACO SPE: Voluntary Chapter 11 Case Summary
HIDEAWAY MARINA: Case Summary & 10 Largest Unsecured Creditors
HUNTSVILLE SPE: Voluntary Chapter 11 Case Summary
INTERGRAPH CORP: S&P Gives Stable Outlook, Affirms 'B+' Rating
INTEGRATED BIOPHARMA: Amper Politziner Raises Going Concern Doubt

ISP CHEMCO: Bank Debt Trades at 5.25% Off in Secondary Market
IVIVI TECHNOLOGIES: Posts $1.8MM Net Loss in Quarter Ended June 30
KELVIN CREWS: Case Summary & 20 Largest Unsecured Creditors
KOOSHAREM CORPORATION: High Leverage Cues Moody's Junk Ratings
LA BUENA VIDA: Case Summary & 20 Largest Unsecured Creditors

LANDAMERICA FIN'L: Proposes Bar Date for D&O Claims
LANDAMERICA FIN'L: Stipulation Releasing Kendall, et al., Property
LEAR CORP: Bank Debt Trades at 4% Off in Secondary Market
LEGEND MEDIA: Goldman Parks Raises Going Concern Doubt
LNR PROPERTY: Bank Debt Trades at 24.17% Off in Secondary Market

LONG RAP INC: Voluntary Chapter 11 Case Summary
LYONDELL CHEMICAL: Creditors Join Bid to Nix $1B on Enviro Claims
LYONDELL CHEMICAL: Proposes New Supply Pact With Evolution
LYONDELL CHEMICAL: Says Committee Has No Standing on D&O Expenses
MAMMOTH EQUITIES: Can't Repay Loans, Seeks Bankr. Protection

LYONDELL CHEMICAL: Motion to Determine Property Tax Liability
MAGUIRE PROPERTIES: Appaloosa Discloses 8.39% Equity Stake
MAGUIRE PROPERTIES: Registers 500,000 Shares Under Director Plan
MALBEC PROPERTIES: Voluntary Chapter 11 Case Summary
MARANI BRANDS: Gruber & Company Raises Going Concern Doubt

MARK WODLINGER: Voluntary Chapter 11 Case Summary
MEDICURE INC: August 31 Balance Sheet Upside-Down by C$21 Million
MERRILL LYNCH: Pay Czar Blocks Kenneth Lewis' Pay
METALDYNE CORP: Completes Sale of All Assets to Carlyle Group

METRO-GOLDWYN-MAYER: Bank Debt Trades at 42.55% Off
MOHEGAN TRIBAL: S&P Assigns 'B-' Rating on $200 Mil. Senior Notes
MOMENTIVE PERFORMANCE: Bank Debt Trades at 15.2% Off
MORGANS HOTEL: Lender Forebears Default Until October 2013
MORRIS PUBLISHING: Refinances Sr. Loan; Wins Forbearance Extension

MSGI SECURITY: Amper Politziner Raises Going Concern Doubt
NAVISTAR INT'L: EVP & Chief Risk Officer William Caton Retires
NORTEL NETWORKS: Wins Approval for Ciena-Led Auction
OLD BAY STEAMER: Expects to Emerge from Bankruptcy
OSI RESTAURANT: Bank Debt Trades at 16.2% Off in Secondary Market

PACIFIC ENERGY: Finds Buyer for Alaska Assets
PACIFIC PAWNBROKERS: Case Summary & 20 Largest Unsecured Creditors
PACIFIC SANDS: Frank Sassetti Raises Going Concern Doubt
PAUL KANTER: Case Summary & 7 Largest Unsecured Creditors
PENN TREATY: Inks Separation Deal & Release with Ex-CEO Hunt

PHI GROUP: Kabani & Company Raises Going Concern Doubt
PHOENIX FOOTWEAR: Receives NYSE Amex Delisting Notice
PIONEER INSURANCE: ASB Wants to Bankrupt Former Owners
PLANT INSULATION: Committee Gets 2nd Okay to Hire Sheppard Millin
PNG VENTURES: Gets Interim OK to Access Greenfield Cash Collateral

PREMIER DEVELOPMENT: Case Summary & 20 Largest Unsecured Creditors
PRICHARD ALA: May File for Bankruptcy for 2nd Time
PROVIDENT ROYALTIES: Sells Mineral Assets to Consul for $12.5MM
QIMONDA NA: Gets Court Nod to Sell Assets for $172.5 Million
QUALITY DISTRIBUTION: S&P Cuts Corporate Credit Rating to 'SD'

QUECHAN TRIBE: Fitch Assigns 'CCC' Issuer Default Ratings
R.H. DONNELLEY: Committee Members Seek to Trade In Claims
R.H. DONNELLEY: Ex-Employees Want to Examine Dex Media
R.H. DONNELLEY: Gets Court Nod for Business.Com Incentive Plan
RAINBOWS UNITED: Investment Group Offers $1MM for Building

READER'S DIGEST: Court Sets November 16 Bar Date
READER'S DIGEST: Proposes to Assume 29 Executory Contracts
READER'S DIGEST: U.S. Trustee Adds Four to Creditors' Panel
REALOGY CORP: Bank Debt Trades at 16% Off in Secondary Market
REPUBLIC WINDOWS: New Jackson Health CRO Linked to Fraud

REVLON INC: MacAndrews & Forbes Discloses Equity Stake
RITE AID: Fidelity Discloses 8.66% Equity Stake
RONALD LAYHER: Voluntary Chapter 11 Case Summary
ROYAL HAWAIIAN: "Heartbeat Hawaii" Hurt by Poor Advertising
SAGECREST FINANCIAL: Judge Shiff Deciphers LLC Agreements

SALTON INC: Moody's Assigns Corporate Family Rating at 'B2'
SAN JOAQUIN BANK: Closed; Citizens Business Assumes Deposits
SANTA FE GOLD: Stark Winter Raises Going Concern Doubt
SEMGROUP LP: Presents Executive Consulting Agreements
SEMGROUP LP: Proposes Race Trac Settlement Agreement

SEMGROUP LP: Sale of SemFuel Assets to Noble Closes
SEMGROUP LP: Wins Nod to Sell SemMaterials Assets to Vance
SERVICE CORP: $256 Mil. Deal Won't Affect S&P's 'BB' Rating
SINCLAIR BROADCAST: S&P Retains Corporate Credit Rating at 'B-'
SINOBIOPHARMA INC: Earns $237,167 in First Quarter Ended August 31

SIRVA INC: Court Disallows Competitors' RICO & Antitrust Claims
SIRIUS XM: Inks New Employment Deal with Head of Operations, Sales
SIX WIVES LLC: Case Summary & 20 Largest Unsecured Creditors
SMART-TEK SOLUTIONS: Recurring Losses Prompt Going Concern Doubt
SPANSION INC: Committee Proposes Landis Rath as Conflicts Counsel

SPANSION INC: Liquidity Solutions, R3 Buy Claims
SPANSION INC: Proposes to Assume SAS License Agreement
SPEEDUS CORP: Posts $1.25-Mil. Net Loss in 2009 Second Quarter
SPRINT NEXTEL: Hall Resigns as SVP, Controller & Accounting Head
STANFORD INT'L: SFG Receiver Sues Firm's Ex-Employees for US$11MM

STANFORD INT'L: SEC's Watchdog to Revisit Handling Firm's Probes
STAR TRIBUNE: May Return to Chapter 11, Says Turnaround Expert
STERLING FINANCIAL: Inks Deal to Strengthen Unit's Finances
STUMP HILL FARM: Case Summary & 8 Largest Unsecured Creditors
SUNGARD DATA: Bank Debt Trades at 4% Off in Secondary Market

SWIFT TRANSPORTATION: Bank Debt Trades at 11.4% Off
TARRAGON CORP: BofA to Take In 60% Of 6 Tarragon Property Sales
TOUSA INC: Reports Home Sale Closings for September
TOYS "R" US: Retires GBP54 Mil. Loan; Has New GBP112 Mil. Facility
TOYS "R" US: FTC Probes on Possible Breach of Anticompetitive Rule

UBS AG: Former Employee Wants to Get Paid for Tax Evasion Infos
UNIVAR NV: Bank Debt Trades at 8.1% Off in Secondary Market
UNITED AIRLINES: Bank Debt Trades at 26% Off in Secondary Market
VEMICS INC: Demetrius & Company Raises Going Concern Doubt
VIRGIN MOBILE: To Hold Special Shareholders Meeting on Sprint Deal

WASHINGTON MUTUAL: Bank Workers Fight WaMu Over Retirement Assets
WCI COMMUNITIES: Drywall Claimants Forgo Special Committee
WEST CORP: Bank Debt Trades at 6.23% Off in Secondary Market
WORKSTREAM INC: August 31 Balance Sheet Upside-Down by $7 Million
YRC WORLDWIDE: Lenders Suspend Liquidity Covenant Until Oct. 30

* 2009's Bank Closings Rise to 99 on San Joaguin Bank Collapse
* Auto Suppliers Want Senate to Boost Credit to Industry
* Treasury Calling on Big Banks to Repay Bailout Now
* Bankruptcy Filings Rise in Tennessee in Third Quarter 2009

* AlixPartners Posts European Companies Restructurings Survery
* Fulbright & Jaworski Posts 2009 Litigation Trends Survey
* Greenberg Traurig Expands Tampa Office & Bankruptcy Practice
* K&L Gates Nabs Sonnenschein Bankruptcy Pro

* Legal Helpers/Macey & Aleman Launches National Offices
* Olshan Grundman Client Obtains $44 Million Jury Verdict
* Sean Coffey to Retire From Bernstein Litowitz Berger & Grossmann

* BOND PRICING -- For the Week From October 12 to 16, 2009

                            *********

ABITIBIBOWATER INC: Camire Wants to Represent Canadian Employees
----------------------------------------------------------------
Viateur Camire, former Vice-President for Human Resources at the
Donohue Group and Abitibi-Consolidated, Inc., relates that
evidently, certain issues hound non-unionized Canadian former
employees of the Applicants in the CCAA Proceedings, including
(i) employees who were terminated as a result of the amalgamation
of ACI and Bowater, and (ii) retired non-unionized former
employees whose payments in unfunded pension plans were
suspended.

Mr. Camire points out that while unionized employees and former
employees of the CCAA Applicants are well-represented by various
labor groups in the course of the CCAA Proceedings, the Canadian
Non-unionized Former employees, as well as the Canadian non-
unionized current employees, are not adequately represented.  He
emphasizes that the Non-Unionized Groups "represent a large
number of the [Applicants'] creditors and should therefore be an
integral part of the CCAA proceedings."

In this regard, Mr. Camire asks the Canadian Court to name him,
as of September 25, 2009, as the representative of the Canadian
Non-Unionized Former Employees in the course of the CCAA
Proceedings.  Concurrently, BCF LLP seeks the Canadian Court's
appointment as solicitors for the Non-Unionized Employees'
Representative.

In addition, the Representative and the Solicitors seek the
formation of a consulting committee for recommendations and
support of their actions, consisting of these proposed members,
who are former employees of the Applicants:

   (1) Viateur Camire (Representative)
   (2) Jocelyn Pepin
   (3) Sylvie Nadeau
   (4) Jean Van Neste
   (5) Francine Dorion
   (6) Bruno Tremblay
   (7) William S. Brown
   (8) Nickolas Saltarelli
   (9) Paul Morasse
  (10) Dave Strathern
  (11) Andre Lamarche

Mr. Camire also asks Mr. Justice Gascon to rule that the
reasonable professional fees and costs of the Representative and
the Solicitors be paid by the Applicants on a monthly basis.

Funding should be provided by the Applicants "as [the Applicants]
created this situation in which the Canadian Non-Unionized Former
Employees now have to state their rights and claims towards their
former employers," Mr. Camire maintains.  He notes that unlike
the unions, absent funding, the Representative and its Solicitors
would not be expected to serve as representative.

According to Mr. Camire, the proposed representation of the
Canadian Non-Unionized Former Employees essentially aims to:

  -- duly inform all of the Canadian Non-Unionized Former
     Employees of their rights and of the progression of the
     CCAA Proceedings;

  -- provide the advice the Canadian Non-Unionized Former
     Employees need to protect their interest and duly
     participate in the restructuring process;

  -- aid and assist the Canadian Non-Unionized Former Employees
     in (i) preparing and establishing their proof of claim
     based on termination, severance pay, unpaid wages, unpaid
     vacation pay, medical benefits, life insurance benefits,
     pension plan benefits, other employee benefits, unpaid
     expense reimbursements, amounts and benefits payable under
     an employment contract, (ii) collect information concerning
     their legal status, and (iii) provide adequate counsel;

  -- represent the interests of the Canadian Non-Unionized
     Former Employees for the purpose of all decisions which
     might affect their rights in the course of the CCAA
     proceedings;

  -- ensure the protection and representation of the rights and
     interests of the Canadian Non-Unionized Former Employees in
     the course of the drafting and approval of the plan of
     arrangement that will be submitted by Applicants;

  -- ensure the protection and representation of the rights and
     interests of the Canadian Non-Unionized Former Employees in
     the course of the execution of an approved plan;

  -- advise the Canadian Non-Unionized Former Employees on how
     to negotiate and vote on upcoming restructuring plans; and

  -- speak and negotiate on behalf of the Canadian Non-Unionized
     Former Employees to the Applicants, the Monitor and to the
     other creditor and shareholders.

Appointment of a Representative will allow the Applicants to deal
efficiently with all issues relating to all the Canadian Non-
Unionized Former Employees, and translate to a reduction of the
costs for all parties, since only one Representative and his
Solicitors would be implicated in the CCAA Proceedings, Mr.
Camire reasons out.

Moreover, he adds, since the representations on behalf of the
Canadian Non-Unionized Former Employees will often be distinct
from those of the unionized employees, the representations on
their behalf will inform the Canadian Court about this specific
group of Former Employees.

                     About AbitibiBowater Inc.

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: CCAA Case is Main Proceeding for ACI & ACC
--------------------------------------------------------------
U.S. Bankruptcy Judge Kevin Carey recognized the Chapter 15
bankruptcy cases of Abitibi-Consolidated Inc. and Abitibi-
Consolidated Company of Canada as a foreign main proceeding
pursuant to Section 1517 of the Bankruptcy Code.

All provisions of Section 1520 of the Bankruptcy Code apply in the
Chapter 15 Cases, including Sections 361 and 362 of the
Bankruptcy Code with respect to the Debtors and the property of
the Debtors that is within the territorial jurisdiction of the
United States, the Court ruled.

Abitibi-Consolidated Inc., as foreign representative for ACI and
Abitibi-Consolidated Company of Canada, in proceedings under
the Companies' Creditors Arrangement Act pending in the Judicial
District of Montreal in Canada, appeared before the U.S.
Bankruptcy Court for the District of Delaware pursuant to
Section 1515 of the Bankruptcy Code, seeking an order:

(a) recognizing the Canadian Proceedings as "foreign main
     proceedings;" and

(b) enforcing the Initial Order of the CCAA Court dated
     April 17, 2009, in the United States.

Claudia R. Tobler, Esq., at Paul, Weiss, Rifkind, Wharton &
Garrison, in Washington, D.C., affirmed that the April 17 Initial
CCAA Court Order enjoins all proceedings against the CCAA Debtors
and their assets, including assets located in the United States.
Moreover, the Initial CCAA Order authorizes ACI to enter into an
amendment that keeps in place its existing securitization program
and permits ACI's continued sale and servicing of receivables.

In a declaration filed with the Bankruptcy Court, William G.
Harvey, senior vice president and chief financial officer of
AbitibiBowater, Inc., affirms that the Canadian Proceeding is
entitled to recognition as a foreign main proceeding because:

  -- each of the Debtors is headquartered in Quebec as the
     "center of main interest" under Chapter 1502(4) of the
     Bankruptcy Code; and

  -- the Canadian Proceeding is a collective judicial proceeding
     in Canada under Canadian law relating to insolvency or
     adjustment of debt, in which the assets and affairs of the
     Debtors are subject to the control and supervision of the
     Canadian Court for the purpose of reorganization or
     liquidation within the meaning of Section 101(23) of the
     Bankruptcy Code; and

  -- ACI is a foreign representative within the meaning of
     Section 101(24) of the Bankruptcy Code.

Without the Bankruptcy Court's recognition of the foreign main
proceedings, the CCAA Debtors' reorganization process will be
disrupted and the legal cost of defending the Actions will be
threatened, which ultimately may severely and adversely impact
the Debtors' reorganization efforts, Ms. Tobler said.

                     About AbitibiBowater Inc.

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: Riverside Buys $257,000 in Claims
-----------------------------------------------------
In separate notices, 12 parties informed the Bankruptcy Court and
parties-in-interest that for the period from August 13 to October
1, 2009, they absolutely and unconditionally conveyed, sold and
transferred all their right, title, benefit and interest in their
claims, totaling $ 257,549, to Riverside Claims LLC:

  Transferor                     Claim No.          Claim Amount
  ----------                     ---------          ------------
  Camionnage N Sans-Cartier      undisclosed              37,355
  JD Barnes L.T.D.               undisclosed              36,659
  EKT 90 Inc.                    undisclosed              30,119
  Ross & Anglin, Ltee/Ltd.       undisclosed              28,152
  Hilyer Services, Inc.          undisclosed              24,500
  Winnipeg Fluid System Tech     undisclosed              21,328
  Complete Packaging Systems     undisclosed              18,914
  (IDI) Service D'Outillage      undisclosed              18,094
  Air Streams Systems, Inc.      undisclosed              15,451
  Teckno Valve RS, Inc.          undisclosed              12,369
  Complete Packaging Systems     undisclosed              10,329
  Complete Packaging Systems     undisclosed               4,279

In addition, Syn-Fab, Inc., notified the Court and parties-in-
interest that on August 3, 2009, it absolutely and unconditionally
sold, conveyed and transferred all its right, title, benefit and
interest in its $675 claim to Sierra Liquidity Fund LLC.

Syn-Fab's total claim amount is $1,578, of which $675 was
partially transferred to Sierra Liquidity.

                     About AbitibiBowater Inc.

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).


ACCURIDE CORP: Bank Debt Trades at 2% Off in Secondary Market
-------------------------------------------------------------
Participations in a syndicated loan under which Accuride
Corporation is a borrower traded in the secondary market at 98.03
cents-on-the-dollar during the week ended Oct. 16, 2009, according
to data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents an increase of 0.83 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.  Moody's has withdrawn its
rating on the bank debt 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 Oct. 16, among the 158 loans
with five or more bids.

Accuride Corporation (OTCBB: AURD) -- http://www.accuridecorp.com/
-- is one of the largest and most diversified manufacturers and
suppliers of commercial vehicle components in North America.
Accuride's products include commercial vehicle wheels, wheel-end
components and assemblies, truck body and chassis parts, seating
assemblies and other commercial vehicle components.  Accuride's
products are marketed under its brand names, which include
Accuride, Gunite, Imperial, Bostrom, Fabco, Brillion, and Highway
Original.

Accuride said it has agreed to a balance sheet restructuring with
the ad hoc committee of holders of its 8-1/2 percent senior
subordinated notes and the steering committee of senior lenders
under its credit agreement.  To complete the proposed
restructuring, Accuride's U.S. entities on October 8 filed a
voluntary petition for protection under Chapter 11 of the U.S.
Bankruptcy Code to seek approval of the prepackaged plan of
reorganization (Bankr. D. Del. Case No. 09-13449).

Accuride's petition listed assets of $682 million against debt
totaling $847 million. Liabilities include a $304 million term
loan and a $100 million revolving credit, plus the $275 million in
subordinated notes.


ADVANCED MICRO: Posts $128MM Q3 Stockholders' Net Loss
------------------------------------------------------
Advanced Micro Devices reported revenue for the third quarter of
2009 of $1.396 billion.  Third quarter 2009 revenue increased 18%
compared to the second quarter of 2009 and decreased 22% compared
to the third quarter of 2008.

In the third quarter of 2009, AMD reported a net loss of
$135 million for the quarter ended September 26, 2009, from a net
loss of $335 million for the quarter ended June 27, 2009, and a
net loss of $127 million for the quarter ended September 27, 2008.

AMD posted a net loss of $884 million for the nine months ended
September 26, 2009, from a net loss of $1.666 billion for the nine
months ended September 27, 2008.

In the third quarter of 2009, AMD reported a net loss attributable
to AMD common stockholders of $128 million, or $0.18 per share,
which includes a net favorable impact of $54 million, or $0.08 per
share, primarily from a $66 million gain from the repurchase of
debt.  AMD's operating loss was $77 million.

In the second quarter of 2009, AMD had revenue of $1.184 billion,
a net loss attributable to AMD common stockholders of $330 million
and an operating loss of $249 million.  In the third quarter of
2008, AMD had revenue from continuing operations of
$1.797 billion, a net loss attributable to AMD common stockholders
of $134 million and an operating income of $122 million.

In the third quarter of 2009, AMD Product Company reported non-
GAAP net income of $2 million and non-GAAP operating income of
$47 million.  In the second quarter of 2009, AMD Product Company
reported a non-GAAP net loss of $244 million and a non-GAAP
operating loss of $205 million.

"Strong demand for our product and platform offerings combined
with disciplined execution resulted in AMD Product Company
achieving profitability in the third quarter," said Dirk Meyer,
AMD president and CEO.  "Growth in microprocessor and graphics
unit shipments drove an 18% sequential revenue increase, while
improved factory utilization rates, higher microprocessor average
selling price and an increase in 45nm product shipments resulted
in a gross margin improvement from the prior quarter."

Third quarter 2009 AMD gross margin was 42% compared to 37% in the
prior quarter.  Third quarter 2009 AMD Product Company non-GAAP
gross margin was 38% compared to 27% in the prior quarter.

As of September 26, 2009, AMD had $8.747 billion in total assets,
including $2.511 billion in cash and cash equivalents; against
total current liabilities of $2.076 billion, deferred income taxes
of $243 million, long-term debt and capital lease obligations,
less current portion of $5.275 billion, other long-term
liabilities of $645 million, and noncontrolling interest of
$1.077 billion; resulting in $569 million in stockholders'
deficit.

                          Current Outlook

AMD expects its Product Company revenue to be up modestly for the
fourth quarter of 2009.

                       Additional Highlights

AMD introduced the ATI Radeon HD 5000 family of graphics
processors, the industry's only graphics chips that support the
Direct X11 technology featured in Microsoft's upcoming Windows 7
operating system.  The flagship ATI Radeon(TM) HD 5870 captured
the graphics performance title and has won more than 50 industry
awards to date.  The new ATI Radeon HD 5000 family of graphics
cards also includes ATI Eyefinity multi-display technology,
allowing a single graphics card to drive up to six monitors.

AMD delivered several new computing platforms in the quarter:

     -- For the notebook market, global computer manufacturers
        including HP, Acer, Toshiba, Asus and MSI announced plans
        to introduce more than 70 notebooks based on AMD's latest
        mainstream and ultrathin platforms.

     -- For the server market, AMD began shipping server platforms
        with the introduction of three new AMD server chipsets.

     -- For the commercial client market, HP began selling the
        Compaq 6005 Pro Business PC based on the new AMD Business
        Class Desktop Platform.

     -- For the embedded market, AMD announced dual- and quad-core
        platforms for client and high-end commercial embedded
        solutions.

AMD launched VISION Technology from AMD, a differentiated approach
to retail merchandising designed to reinforce the value
proposition of AMD platforms and simplify the consumer buying
experience by highlighting what can be done with a PC rather than
what is inside the PC.

AMD launched the AMD Fusion Partner Program, a business
acceleration program designed to help AMD channel partners gain
sales traction and speed the delivery of AMD platforms.

AMD joined with GLOBALFOUNDRIES to break ground on Fab 2 in New
York, GLOBALFOUNDRIES' state-of-the-art semiconductor
manufacturing facility that AMD expects will provide additional
leading-edge manufacturing capacity when the facility enters
production, scheduled for 2012.

                   About Advanced Micro Devices

Headquartered in Sunnyvale, California, Advanced Micro Devices
Inc. (NYSE: AMD) -- http://www.amd.com/-- provides innovative
processing solutions in the computing, graphics and consumer
electronics markets.

As reported by the Troubled Company Reporter on October 7, 2009,
Standard & Poor's Ratings Services revised its outlook on Advanced
Micro Devices to positive from negative.  S&P also affirmed the
company's 'CCC+' corporate credit rating and all issue-level
ratings.  The rating reflects AMD's inconsistent and weak
operating profitability, its challenged market position in
microprocessers and uncertainties with respect to ongoing disputes
with Intel Corp. (A+/Stable/A-1+).  Sufficient liquidity and its
recent joint venture with Advanced Technology Investment Corp.-
that alleviates heavy capital spending requirements-partly offset
those concerns.

The TCR said May 26, 2009, Fitch revised the senior unsecured debt
rating on Advanced Micro Devices to 'CC/RR6' from 'CCC/RR6'.
Fitch affirmed AMD's Issuer Default Rating at 'B-'.  The Rating
Outlook is Negative.


AIRTRAN HOLDINGS: Sells $115 Mil. of 5.25% Convertible Sr. Notes
----------------------------------------------------------------
AirTran Holdings, Inc., on October 7, 2009, entered into an
Underwriting Agreement with Morgan Stanley & Co. Incorporated as
representative of the underwriters relating to the sale by the
Company of $115 million aggregate principal amount of its 5.25%
Convertible Senior Notes due 2016.  The offering included the
initial offer of $100 million aggregate principal amount of the
Notes and the exercise, by the Convertible Notes Underwriters,
pursuant to the Convertible Notes Underwriting Agreement of an
option to purchase an additional $15 million aggregate principal
amount of the Notes to cover over-allotments.

The sale of the $115 million aggregate principal amount of the
Notes was completed on October 14, 2009.  The sale of the Notes
was registered under the Securities Act of 1933, as amended,
pursuant to a Registration Statement on Form S-3 (File No.
333-160432), as supplemented by a prospectus supplement dated
October 8, 2009.

The Notes were issued under a Senior Indenture for the issuance of
Senior Debt Securities and a First Supplemental Indenture,
specifically with respect to the Notes which incorporates the
terms of the Base Indenture unless otherwise excluded or
superseded.  The Indenture was entered into and dated as of
October 14, 2009, between the Company and U.S. Bank National
Association, as trustee.

The Notes are senior unsecured debt obligations of the Company.
There is no sinking fund for the Notes.  The Notes mature on
November 1, 2016, and bear interest at a rate of 5.25% per annum.
Interest on the Notes is payable semi-annually in arrears on May 1
and November 1 of each year, commencing May 1, 2010.

Subject to certain exceptions set forth in the Supplemental
Indenture, the Notes are subject to repurchase for cash at the
option of the holders of all or any portion of the Notes upon a
fundamental change, at a purchase price equal to 100% of the
principal amount of the Notes, plus accrued and unpaid interest,
if any.  A fundamental change generally will occur upon certain
changes in the ownership of the Company, as further described in
the Supplemental Indenture.

Holders may convert their Notes, at their option, any time prior
to the close of business on the business day immediately preceding
November 1, 2016.  The Notes are convertible into shares of common
stock, par value $0.001 per share, of the Company, subject to the
Company's right and obligation to deliver cash in lieu of
fractional shares.  The Notes are convertible at an initial
conversion rate of 164.0420 shares of Common Stock per $1,000
principal amount of Notes, subject to adjustment in the manner set
forth in the Supplemental Indenture.

The Indenture contains customary reporting requirements and also
contains obligations arising in the event of mergers and asset
sales.  The Supplemental Indenture also provides that upon certain
events of default, including without limitation, failure to pay
principal or interest, failure to deliver a notice of fundamental
change and failure to issue Common Stock following presentation
for conversion, either the trustee or the holders of 25% in
aggregate principal amount of the Notes may declare the principal
of the Notes and any accrued and unpaid interest through the date
of such declaration immediately due and payable.  In the case of
certain events of bankruptcy or insolvency relating to the Company
or its significant subsidiaries, the principal amount of the Notes
and accrued interest automatically becomes due and payable.

                       Common Stock Offering

Concurrently with the offering of the Notes, on October 7, 2009,
the Company entered into an underwriting agreement with Morgan
Stanley as representative of the underwriters, relating to the
sale by the Company of 11,318,898 shares of its common stock to
the public in a fixed price offering at $5.08 per share.  The
Common Stock Offering included the initial offer of 9,842,520
shares and the exercise by the Equity Underwriters, pursuant to
the Equity Underwriting Agreement of an option to purchase an
additional 1,476,378 shares to cover over-allotments.

The sale of the 11,318,898 shares was completed on October 14,
2009.  The sale of the shares of Common Stock was registered under
the Securities Act pursuant to a Registration Statement on Form
S-3 (File 333-160432) as supplemented by a prospectus supplement
dated October 8, 2009.

                          Use of Proceeds

The Company intends to use the net proceeds from the Notes
offering and the Common Stock offering for general corporate
purposes, which may include additions to working capital, capital
expenditures, or the retirement of debt.

                           Relationships

The Convertible Notes Underwriters, the Equity Underwriters, and
their respective affiliates have provided, and may in the future
provide, various investment banking, commercial banking and other
financial services for the Company and its affiliates for which
services they have received, and may in the future receive,
customary fees.

                      About AirTran Holdings

Headquartered in Orlando Florida, AirTran Holdings Inc. (NYSE:
AAI) -- http://www.airtran.com/-- a Fortune 1000 company, is the
parent company of AirTran Airways, which has been ranked the
number one low-cost carrier in the Airline Quality Rating study
for the past two years.  AirTran is the only major airline with
Wi-Fi on every flight and offers coast-to-coast service on North
America's newest all-Boeing fleet.  Its low-cost, high-quality
product also includes assigned seating, Business Class and
complimentary XM Satellite Radio on every flight.

                           *     *     *

As reported by the Troubled Company Reporter on October 7, 2009,
Moody's Investors Service affirmed the Caa2 corporate family and
probability of default ratings of AirTran Holdings Corp., Inc.,
the Ca rating on AirTran's $96 million senior unsecured
convertible notes due in 2023 and also the SGL-4 Speculative Grade
Liquidity Rating.  Moody's also changed the ratings outlook to
stable from negative.

The TCR said on July 10, 2009, Standard & Poor's Ratings Services
affirmed the airline's corporate credit rating at CCC+/Stable/--.


AMERICAN AXLE: Eyes Issuance of $500 Mil. in Securities
-------------------------------------------------------
American Axle & Manufacturing, Inc., and American Axle &
Manufacturing Holdings, Inc., filed a shelf registration statement
on Form S-3 in connection with the Company's possible offering of
any of these securities:

     -- debt securities, which may be either senior or
        subordinated, unsecured or secured guaranteed by
        Holdings;

     -- warrants to purchase debt securities;

     -- warrants to purchase shares of the common stock of
        Holdings, issued to General Motors Company pursuant to the
        warrant agreement by and between Holdings and GM dated as
        of September 16, 2009, and the underlying shares of the
        common stock of Holdings;

     -- shares of the common stock of Holdings; or

     -- shares of AAM preferred stock.

The Company may issue $500,000,000 of debt securities, warrants to
purchase debt securities, guarantees, common stock, $0.01 par
value per share, and preferred stock in a Primary Offering.

The Company also registered 4,093,729 common stock warrants and
the 4,093,729 underlying warrant shares on behalf of selling
stockholders in a Secondary Offering.  The common stock warrants
may only be transferred by the selling stockholders to an
affiliate of the selling stockholders or to an institutional
"accredited investor" as defined under the Securities Act of 1933,
as amended or pursuant to the prospectus.  The Proposed Maximum
Aggregate Offering Price in the Secondary Offering is $11,298,692.

The terms of the securities will be determined at the time of
offering.

A full-text copy of the shelf registration statement is available
at no charge at http://ResearchArchives.com/t/s?470c

                        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.

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

                           *     *     *

As reported by the Troubled Company Reporter on September 24,
2009, Moody's Investors Service raised Axle's Corporate Family
Rating to Caa3 from Ca, and raised the rating on Axle's secured
guaranteed term loan to B3 from Caa2.  Moody's affirmed the
company's Probability of Default Rating at Caa3, and affirmed the
ratings on the unsecured guaranteed notes and the unsecured
convertible notes at Ca.  The Speculative Grade Liquidity Rating
is SGL-4.  The outlook is changed to stable from negative.

The TCR also said Standard & Poor's Ratings Services revised its
outlook on Axle to developing from negative and affirmed its
'CCC+' corporate credit rating and other ratings.


AMERICAN HOME: Settles WARN Class Action for $6.5 Million
---------------------------------------------------------
Law360 reports that the Bankruptcy Court has granted preliminary
approval of American Home Mortgage Holdings Inc.'s $6.5 million
settlement with former employees suing over the Debtor's mass
layoffs in 2007.

Based in Melville, New York, American Home Mortgage Investment
Corp. (NYSE: AHM) -- http://www.americanhm.com/-- is a mortgage
real estate investment trust engaged in the business of investing
in mortgage-backed securities and mortgage loans resulting from
the securitization of residential mortgage loans originated and
serviced by its subsidiaries.

American Home Mortgage and seven affiliates filed for Chapter 11
protection on August 6, 2007 (Bankr. D. Del. Case Nos. 07-11047
through 07-11054).  James L. Patton, Jr., Esq., Joel A. Waite,
Esq., and Pauline K. Morgan, Esq. at Young, Conaway, Stargatt &
Taylor LLP represent the Debtors.  Epiq Bankruptcy Solutions LLC
acts as the Debtors' claims and noticing agent.  The Official
Committee of Unsecured Creditors selected Hahn & Hessen LLP as
its counsel.  As of March 31, 2007, American Home Mortgage's
balance sheet showed total assets of $20,553,935,000, total
liabilities of $19,330,191,000.

American Home filed a de-consolidated plan of liquidation on
August 15, 2008.  The former home mortgage lender's liquidating
Chapter 11 plan was confirmed in February 2009


AMERICAN INT'L: May Pay Future Settlement of Case Against Ex-CEO
----------------------------------------------------------------
American International Group Inc. has advanced negotiations with
former CEO Maurice R. Greenberg to resolve various legal fights,
Liam Pleven and Joann S. Lublin at The Wall Street Journal report,
citing people familiar with the matter.

The Journal relates that AIG might pay for any future settlement
of charges brought against Mr. Greenberg in 2005 by the New York
Attorney General's Office, whose accounting probe cased the former
CEO's departure.  The Journal, citing sources, states that AIG's
insurance policy for its own directors and officers might cover
the "preponderance" of any deal.  The Journal notes that a deal
could also involve resolving a $1 billion claim AIG has pending in
a civil suit against Mr. Greenberg and another former AIG
executive.

AIG could end up essentially reimbursing Mr. Greenberg for some of
the millions of dollars he has agreed to pay in recent years to
settle various other cases related to his AIG tenure, including
with the Securities and Exchange Commission.

According to the Journal, sources said that is possible that no
agreement will be struck.  AIG and Mr. Greenberg were talking on
Friday but hadn't reached a deal, The Journal states.  AIG
directors got an update about the negotiations during a board call
but weren't asked to approve a deal, the report says, citing a
person familiar with the matter.

Based in New York, American International Group, Inc., is the
leading international insurance organization with operation in
more than 130 countries and jurisdictions.  AIG companies serve
commercial, institutional and individual customers through the
most extensive worldwide property-casualty and life insurance
networks of any insurer.  In addition, AIG companies are leading
providers of retirement services, financial services and asset
management around the world.  AIG's common stock is listed on the
New York Stock Exchange, as well as the stock exchanges in Ireland
and Tokyo.

In September 2008, AIG experienced a liquidity crunch when its
credit ratings were downgraded below "AA" levels by Standard &
Poor's, Moody's Investors Service and Fitch Ratings.  On
September 16, 2008, the Federal Reserve Bank created an
$85 billion credit facility to enable AIG to meet increased
collateral obligations consequent to the ratings downgrade, in
exchange for the issuance of a stock warrant to the Fed for 79.9%
of the equity of AIG.  The credit facility was eventually
increased to as much as $182.5 billion.  AIG has sold a number of
its subsidiaries and other assets to pay down loans received, and
continues to seek buyers of its assets.

The Troubled Company Reporter reported on March 4, 2009, that
Moody's Investors Service confirmed the A3 senior unsecured debt
and Prime-1 short-term debt ratings of American International
Group.  AIG's subordinated debt rating has been downgraded to Ba2
from Baa1.  The rating outlook for AIG is negative.  This rating
action follows AIG's announcement of net losses of $62 billion for
the fourth quarter and $99 billion for the full year of 2008,
along with a revised restructuring plan supported by the U.S.
Treasury and the Federal Reserve.  This concludes a review for
possible downgrade that was initiated on September 15, 2008.


ASSET RESOLUTION: Voluntary Chapter 11 Case Summary
---------------------------------------------------
Debtor: Asset Resolution LLC
        333 Seventh Avenue, 3rd Floor
        New York, NY 10001

Case No.: 09-16142

Chapter 11 Petition Date: October 14, 2009

Court: United States Bankruptcy Court
       Southern District of New York

Judge:  Arthur J. Gonzalez

Debtor's Counsel: Joseph Corneau, Esq.
                  Klestadt & Winters, LLP
                  292 Madison Avenu, 17th Floor
                  New York, NY 10017
                  Tel: (212) 972-3000
                  Fax: (212) 972-2245
                  Email: jcorneau@klestadt.com

                  Tracy L. Klestadt, Esq.
                  Klestadt & Winters, LLP
                  292 Madison Avenu, 17th Floor
                  New York, NY 10017-6314
                  Tel: (212) 972-3000
                  Fax: (212) 972-2245
                  Email: tklestadt@klestadt.com

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

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

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


AVAYA INC: Bank Debt Trades at 18% Off in Secondary Market
----------------------------------------------------------
Participations in a syndicated loan under which Avaya, Inc., is a
borrower traded in the secondary market at 82.10 cents-on-the-
dollar during the week ended Oct. 16, 2009, according to data
compiled by Loan Pricing Corp. and reported in The Wall Street
Journal.  This represents an increase of 1.20 percentage points
from the previous week, The Journal relates.  The loan matures on
Oct. 26, 2014.  The Company pays 275 basis points above LIBOR to
borrow under the facility.  The bank debt is not rated by Moody's
and Standard & Poor's and is one of the biggest gainers and losers
among widely quoted syndicated loans in secondary trading in the
week ended Oct. 16, among the 158 loans with five or more bids.

Avaya, Inc., based in Basking Ridge, New Jersey, is a supplier of
communications systems and software for enterprise customers.

The Troubled Company Reporter stated on Sept. 16, 2009, that
Standard & Poor's Ratings Services said it placed its ratings,
including the 'B' corporate credit rating, on Avaya, Inc., on
CreditWatch with negative implications, following the Company's
announcement that it has been accepted as the buyer of Nortel
Networks Corp.'s (not rated) Enterprise Solutions businesses, for
$900 million.


AVIS BUDGET: Bank Debt Trades at 6% 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 94.27
cents-on-the-dollar during the week ended Friday, Oct. 16, 2009,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 0.52
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 B- rating.  The
debt is one of the biggest gainers and losers among widely quoted
syndicated loans in secondary trading in the week ended Oct. 16,
among the 158 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/--).


AVIZA TECHNOLOGY: Gets Continued Access to Lenders Cash Collateral
------------------------------------------------------------------
The Hon. Roger L. Efremsky of the U.S. Bankruptcy Court for the
Northern District of California, authorized on a second interim
basis, Aviza Technology Inc. and its debtor-affiliates to:

   -- use cash collateral of their prepetition secured lenders
      United Commercial Bank, East West Bank and ChinaTrust Bank
      (USA); and

   -- grant adequate protection to secured lenders.

As reported in the Troubled Company Reporter on June 30, 2009, ATI
and Aviza, Inc., entered into a loan and security agreement with
the Banks for a credit facility pursuant to which the Banks
provided credit of $55,000,000 under a revolving line of credit,
an equipment term loan and a real estate term loan.

As of ATI's petition date, ATI and Aviza owed the Banks
$28,300,000.  The Debtors also owed $7,500,000 in unsecured debt.

The Banks assert a perfected security interest in substantially
all of the Debtors' assets, including accounts receivable,
inventory, equipment and real estate.

The Debtors related that their assets are worth substantially more
than the amount of secured debt and relates that the equity
cushion provides the Banks with adequate protection for the use of
cash collateral.

The proposed sale to Sumitomo Precision Products, according to the
Debtors, will, if consummated, result in proceeds sufficient to
pay the Bank's secured claim in full and may possibly result in
proceeds available to distribute to unsecured creditors.  Sumitomo
executed a non-binding letter of intent for the sale of certain
assets of Aviza and certain of its direct and indirect
subsidiaries.

The Debtors will also grant to the Banks a replacement lien on all
property of Aviza acquired after the commencement of the Chapter
11 case of the same types and description as the collateral
securing the Banks' prepetition lien, if any, but excluding claims
for and excluding property acquired by the Debtor post-petition.

                     About Aviza Technology Inc.

Headquartered in Scotts Valley, California, Aviza Technology Inc.
(NASDAQ GM:AVZA) -- http://www.aviza.com/-- designs,
manufactures, sells and supports semiconductor capital equipment
and process technologies for the global semiconductor industry and
related markets.  The Company's systems are used in a variety of
segments of the semiconductor market for advanced silicon for
memory devices, 3-D packaging and power integrated circuits for
communications.  The Company's manufacturing, R&D, sales and
customer support facilities are located in the United Kingdom,
Germany, France, Taiwan, China, Japan, Korea, Singapore and
Malaysia.

The Company and two of its subsidiaries, Aviza Inc. and Trikon
Technologies Inc., filed for Chapter 11 bankruptcy protection on
June 9, 2009 (Bankr. N.D. Calif. Case No. 09-54511).  Judge Roger
L. Efremsky presides over the Chapter 11 case.  Attorneys at the
Law Offices of Murray and Murray represent the Debtors.  At the
time of the filing, Aviza Technology estimated assets and debts of
$10 million to $50 million.


BAKERY CAFE: Expects to Emerge from Bankruptcy
----------------------------------------------
The Bakery Cafe, Captain's Table, French Market Cafe, and Old Bay
Steamer have each filed for Chapter 11 bankruptcy protection.
Jeff Amy at Press-Register reports that the filers' owners said
that they expect to emerge from bankruptcy, while a new owner is
lined up to take over The Bakery Cafe, but not its debt.

Old Bay Steamer filed for bankruptcy protection on August 7, 2009,
listing $816,842 in assets against $904,670 in liabilities.  Its
largest creditor, BancorpSouth Bank, is owed $720,022 on a
mortgage on the restaurant's building.

The Bakery Cafe Wilwal, Inc., filed for bankruptcy on June 26,
2009, listing $114,794 in assets against $202,096 in liabilities.
It owes its biggest creditor, Internal Revenue Service, about
$143,731 in back taxes and penalties.

Best of New Orleans, Inc., dba The French Market Cafe, Inc., filed
for bankruptcy on September 9, 2009, listing $19,324.79 in assets
against $475,317 in liabilities.  Its biggest creditor, Regions
Bank, is owed about $235,000 on a secured loan.

Captain's Table filed for Chapter 11 bankruptcy protection on
September 28, 2009, listing $1 million to $10 million in assets
and $1 million to $10 million in debts.


BANKUNITED FIN'L: All Proofs of Claim Due November 17
-----------------------------------------------------
Greenberg Traurig, P.A., counsel to BankUnited Financial
Corporation announced that the Bankruptcy court has set:

   -- a November 17, 2009 deadline for all creditors (including
      governmental units) of BankUnited Financial Corporation,
      BankUnited Financial Services, Inc., and CRE America
      Corporation to File a Proof of Claim; and

   -- a November 10 deadline for all creditors (including
      governmental units) of BankUnited Financial Corporation,
      BankUnited Financial Services, Inc., and CRE America
      Corporation to File a Complaint to Determine
      Dischargeability of Certain Debts.

Address for filing proofs of claim:

      U.S. Bankruptcy Court
      51 SW 1st Avenue, Room 1517
      Miami, FL 33130

                    About BankUnited Financial

BankUnited Financial Corp. (Other OTC Ticker Symbol: BKUNQ) --
http://www.bankunited.com/-- was the holding company for
BankUnited FSB, the largest banking institution headquartered in
Coral Gables, Florida.  On May 21, 2009, BankUnited FSB was closed
by regulators and the Federal Deposit Insurance Corporation
facilitated a sale of the bank to a management team headed by John
Kanas, a veteran of the banking industry and former head of North
Fork Bank, and a group of investors led by W.L. Ross & Co.
BankUnited, FSB, had assets of $12.8 billion and deposits of $8.6
billion as of May 2, 2009.

The Company and its affiliates filed for Chapter 11 on May 22,
2009 (Bankr. S.D. Fla. Lead Case No. 09-19940).  Stephen P.
Drobny, Esq., and Peter Levitt, Esq., at Shutts & Bowen LLP; Mark
D. Bloom, Esq., and Scott M. Grossman, Esq., at Greenberg Traurig,
LLP; and Michael C. Sontag, at Camner, Lipsitz, P.A., represent
the Debtors as counsel.  Corali Lopez-Castro, Esq., David Samole,
Esq., at Kozyak Tropin & Throckmorton, P.A.; and Todd C. Meyers,
Esq., at Kilpatrick Stockton LLP, serve as counsel to the official
committee of unsecured creditors.

In its bankruptcy petition, BankUnited Financial Corp. said it has
assets of $37,729,520 against debts of $559,740,185.


BERNARD MADOFF: Prosecutors Want DiPascali's Bail Reconsidered
--------------------------------------------------------------
Jennifer S. Forsyth at The Wall Street Journal reports that
prosecutors have asked U.S. District Judge Richard Sullivan to
reconsider his decision to deny bail to Bernard Madoff's chief
financial officer, Frank DiPascali Jr., while he awaits
sentencing.

Court document say that prosecutors proposed this "significantly
strengthened bail package" for Mr. DiPascali be release from jail:

     -- a personal recognizance bond of $10 million to be co-
        signed by nine people, including family members;

     -- pledged security valued at about $2 million, including
        three family-owned properties and $500,000 of retirement
        savings belonging to his sister;

     -- electronic home monitoring with permission to leave only
        with the escort of a Federal Bureau of Investigation agent
        under limited circumstances; and

     -- the surrender of his wife's travel documents.

Mr. DiPascali pleaded guilty on August 11 to 10 criminal charges
for his involvement in Mr. Madoff's Ponzi scheme, including lying
to investors, creating fake documents, and repeatedly lying under
oath to Securities and Exchange Commission investigators.  He
faces as many as 125 years in prison, says The Journal.

Mr. DiPascali would be a witness in future Madoff-related
prosecutions, but U.S. District Judge Richard Sullivan denied bail
in August to Mr. DiPascali, saying that the first proposed bail
package wasn't sufficient to overcome his risk of flight.

The Journal relates that the prosecutors and that Mr. DiPascali's
lawyers said that the defendant would be better prepared to assist
the government in its investigation if he were free on bail.

The Journal relates that Mr. DiPascali's defense attorneys
assured, in a motion in support of the request to release their
client from jail, that he has no incentive to flee, which the
prosecutors supported, saying that Mr. DiPascali's "extensive
cooperation to date, and his strong incentive to continue to
cooperate" means he isn't likely to flee.

Bernard L. Madoff Investment Securities LLC and Bernard L.
Madoff orchestrated the largest Ponzi scheme in history, with
losses topping US$50 billion.

On December 15, 2008, the Honorable Louis A. Stanton of the
U.S. District Court for the Southern District of New York granted
the application of the Securities Investor Protection Corporation
for a decree adjudicating that the customers of BLMIS are in need
of the protection afforded by the Securities Investor Protection
Act of 1970.  The District Court's Protective Order (i) appointed
Irving H. Picard, Esq., as trustee for the liquidation of BLMIS,
(ii) appointed Baker & Hostetler LLP as his counsel, and (iii)
removed the SIPA Liquidation proceeding to the Bankruptcy Court
(Bankr. S.D.N.Y. Case No. 08-01789) (Lifland, J.).

Judge Denny Chin of the U.S. District Court for the Southern
District of New York on June 29, 2009, sentenced Mr. Madoff to
150 years of life imprisonment for defrauding investors in
United States v. Madoff, No. 09-CR-213 (S.D.N.Y.).


BEST OF NEW ORLEANS: Expects to Emerge from Bankruptcy
------------------------------------------------------
The Bakery Cafe, Captain's Table, French Market Cafe, and Old Bay
Steamer have each filed for Chapter 11 bankruptcy protection.
Jeff Amy at Press-Register reports that the filers' owners said
that they expect to emerge from bankruptcy, while a new owner is
lined up to take over The Bakery Cafe, but not its debt.

Old Bay Steamer filed for bankruptcy protection on August 7, 2009,
listing $816,841.87 in assets against $904,659.96 in liabilities.
Its largest creditor, BancorpSouth Bank, is owed $720,021.93 on a
mortgage on the restaurant's building.

The Bakery Cafe Wilwal, Inc., filed for bankruptcy on June 26,
2009, listing $114,794 in assets against $202,095.55 in
liabilities.  It owes its biggest creditor, Internal Revenue
Service, about $143,730.55 in back taxes and penalties.

Best of New Orleans, Inc., dba The French Market Cafe, Inc., filed
for bankruptcy on September 9, 2009, listing $19,324.79 in assets
against $475,316.83 in liabilities.  Its biggest creditor, Regions
Bank, is owed about $235,000 on a secured loan.

Captain's Table filed for Chapter 11 bankruptcy protection on
September 28, 2009, listing $1 million to $10 million in assets
and $1 million to $10 million in debts.


BLOCKBUSTER INC: Trivium Reports 0% Equity Stake
------------------------------------------------
Trivium Capital Management, LLC, and Trivium Offshore Fund, Ltd.,
disclosed that they no longer hold shares of Blockbuster Inc.
Class A Common Stock.

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

As reported by the Troubled Company Reporter, Sept. 18, 2009,
Standard & Poor's Ratings Services raised its corporate credit
rating on Blockbuster to 'B-' from 'CCC'.  The outlook is stable.

The TCR on Oct. 6, 2009, said Moody's Investors Service upgraded
Blockbuster's long term ratings, including its probability of
default rating to 'Caa1' from 'Caa3' and its corporate family
rating to 'Caa1' from 'Caa2'.  The rating outlook is stable.


BUNDY 2.5 MILLION SPE: Voluntary Chapter 11 Case Summary
--------------------------------------------------------
Debtor: Bundy 2.5 Million SPE, LLC
        333 Seventh Avenue, 3rd Floor
        New York, NY 10001

Bankruptcy Case No.: 09-16143

Chapter 11 Petition Date: October 14, 2009

Court: United States Bankruptcy Court
       Southern District of New York

Judge: Arthur J. Gonzalez

Debtor's Counsel: Joseph Corneau, Esq.
                  Klestadt & Winters, LLP
                  292 Madison Avenu, 17th Floor
                  New York, NY 10017
                  Tel: (212) 972-3000
                  Fax: (212) 972-2245
                  Email: jcorneau@klestadt.com

                  Tracy L. Klestadt, Esq.
                  Klestadt & Winters, LLP
                  292 Madison Avenu, 17th Floor
                  New York, NY 10017-6314
                  Tel: (212) 972-3000
                  Fax: (212) 972-2245
                  Email: tklestadt@klestadt.com

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

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 Sara Pfrommer, C.R.O. & general counsel
of the Company.


BURLINGTON COAT: Records $23.4 Mil. Net Loss for August 29 Qtr
--------------------------------------------------------------
Burlington Coat Factory Investments Holdings, Inc., and its
operating subsidiaries announced its results for the first quarter
ended August 29, 2009.

The Company posted a net loss of $23.4 million for the three
months ended August 29, 2009, from a net loss of $32.4 million for
the same period ended August 30, 2008.

Net sales were $704.7 million for the three months ended
August 29, 2009, compared with $707.0 million for the three months
ended August 30, 2008, a 0.3% decrease.  Comparative store sales
decreased 6.9%.

Adjusted EBITDA was $22.0 million for the three months ended
August 29, 2009, compared with $16.5 million for the three months
ended August 30, 2008.  The increase in the Company's Adjusted
EBITDA of $5.5 million is primarily the result of continued cost
reductions from initiatives implemented during the third and
fourth quarters of Fiscal 2009.

At August 29, 2009, the Company had $2.59 billion in total assets
against total current liabilities of $710.6 million, long-term
debt of $1.30 billion, other liabilities of $149.0 million,
deferred tax liability of $319.8 million; resulting in
stockholders' equity of $111.6 million.

Tom Kingsbury, President and Chief Executive Officer stated, "We
are pleased to be able to report a 33% increase in Adjusted
EBITDA.  The ongoing success of our expense reduction and
inventory management initiatives continue to provide us with the
liquidity to take advantage of the many opportunistic buys
available in the marketplace as well as the ability to invest in
our very important store experience initiative."

The Company will hold a conference call for investors on Friday,
October 23, 2009 at 10:00 a.m. Eastern Time to discuss the
Company's first quarter Fiscal 2010 operating results.  To
participate in the call, please dial 800-920-2983.  This
conference call will be recorded and available for replay
beginning one hour after the end of the call and will be available
through October 24, 2009 at 12:00 p.m. Eastern Time.  To access
the replay, please dial 1-800-633-8284, then the access number,
21440037.  Additionally, a replay of the call will be available
for 30 days on the Company's Web site:

               http://www.burlingtoncoatfactory.com/

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?470d

                    About Burlington Coat Factory

Burlington Coat Factory -- http://www.burlingtoncoatfactory.com/
-- is a nationally recognized retailer of branded apparel, shoes
and accessories for men, women and children.  The Company
currently serves its customers through its 442 stores in 44 states
and Puerto Rico.  As of October 16, 2009, the Company operates 442
stores under the names "Burlington Coat Factory Warehouse" (424
stores), "MJM Designer Shoes" (15 stores), "Cohoes Fashions" (two
stores), and "Super Baby Depot" (one store) in 44 states and
Puerto Rico.

As reported by the Troubled Company Reporter on June 29, 2009,
Fitch Ratings affirmed its Issuer Default Rating at 'B-';
US$800 million asset-based revolver rating at 'B+/RR1';
US$900 million term loan rating at 'B/RR3', on Burlington Coat
Factory Warehouse Corp.  Fitch revised these ratings to reflect
the new issue rating definitions as of March 2009 --
US$305 million senior unsecured notes revised to 'CC/RR6' from
'CCC/RR6'; US$99 million senior discount notes revised to 'C/RR6'
from 'CCC-/RR6'.


CANWEST GLOBAL: CMI Has Until Oct. 22 to Transfer National Post
---------------------------------------------------------------
Canwest Global Communications Corp. said Friday its subsidiary,
Canwest Media Inc., has agreed with the members of the ad hoc
committee of 8% senior subordinated noteholders of CMI pursuant to
the terms of their Support Agreement to extend to October 22,
2009, the date by which CMI must enter into a definitive agreement
with Canwest Limited Partnership in respect of the transfer of the
business operated by the National Post.

Canwest on Thursday received notice of delisting from The Toronto
Stock Exchange indicating that the Listings Committee of the TSX
has determined to delist Canwest's subordinate voting shares (TSX:
CGS) and non-voting shares (TSX: CGS.A) effective at the close of
market on November 13, 2009.  The delisting was imposed for
failure by Canwest to meet the continued listing requirements of
the TSX, as detailed in Part VII of The TSX Company Manual.
Trading in Canwest's subordinate voting shares and non-voting
shares will remain suspended.  Any appeal of this delisting
decision must be initiated by October 21, 2009.

                       About Canwest Global

Canwest Global Communications Corp. (TSX: CGS and CGS.A) --
http://www.canwest.com/-- an international media company, is
Canada's largest media company.  In addition to owning the Global
Television Network, Canwest is Canada's largest publisher of
English language daily newspapers and owns, operates and holds
substantial interests in conventional television, out-of-home
advertising, specialty cable channels, web sites and radio
stations and networks in Canada, New Zealand, Australia, Turkey,
Indonesia, Singapore, the United Kingdom and the United States.

On October 6, 2009, Canwest Global, Canwest Media Inc., Canwest
Television Limited Partnership (including Global Television,
MovieTime, DejaView and Fox Sports World), The National Post
Company and certain subsidiaries voluntarily entered into, and
successfully obtained an Order from the Ontario Superior Court of
Justice (Commercial Division) commencing proceedings under the
Companies' Creditors Arrangement Act.  The CMI Entities'
commencement of these proceedings was undertaken in furtherance of
a proposed recapitalization transaction that is supported by over
70% of holders of the 8% senior subordinated notes issued by CMI.

On the same day, FTI Consulting Canada Inc., the Court-appointed
Monitor in the CCAA proceedings, sought protection in the United
States Bankruptcy Court under Chapter 15 of the United States
Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 09-15994) for
certain of the entities involved in Canwest's television business
that filed for protection under the CCAA, including Canwest,
Canwest Media Inc. and Canwest Global Broadcasting
Inc./Radiodiffusion Canwest Global Inc.

Judge Stuart M. Bernstein presides over the Chapter 15 cases.
Evan D. Flaschen, Esq., at Bracewell & Giuliani LLP, in Hartford,
Connecticut, serves as Chapter 15 Petitioner's counsel.  The
Chapter 15 Debtors disclosed estimated assets of $500 million to
$1 billion and estimated debts of $50 million to $100 million.

In a regulatory filing with the U.S. Securities and Exchange
Commission, Canwest Media disclosed C$4,847,020,000 in total
assets and C$5,826,522,000 in total liabilities at May 31, 2009.

Bankruptcy Creditors' Service, Inc., publishes Canwest Bankruptcy
News.  The newsletter tracks the CCAA proceedings and Chapter 15
proceedings undertaken by Canwest Global Communications Corp. and
its affiliates (http://bankrupt.com/newsstand/or 215/945-7000).


CANWEST GLOBAL: TSX to Delist Subordinate Voting Shares on Nov. 13
------------------------------------------------------------------
Canwest Global Communications Corp. on October 15 said that it has
received a letter from The Toronto Stock Exchange indicating that
the Listings Committee of the TSX has determined to delist
Canwest's subordinate voting shares /quotes/comstock/11t!cgs
(CA:CGS 0.24, 0.00, 0.00%) and non-voting shares
/quotes/comstock/11t!cgs.a (CA:CGS.A 0.19, 0.00, 0.00%) effective
at the close of market on November 13, 2009.

The delisting was imposed for failure by Canwest to meet the
continued listing requirements of the TSX, as detailed in Part VII
of The TSX Company Manual.  Trading in Canwest's subordinate
voting shares and non-voting shares will remain suspended.  Any
appeal of this delisting decision must be initiated by October 21,
2009.

                       About Canwest Global

Canwest Global Communications Corp. (TSX: CGS and CGS.A) --
http://www.canwest.com/-- an international media company, is
Canada's largest media company.  In addition to owning the Global
Television Network, Canwest is Canada's largest publisher of
English language daily newspapers and owns, operates and holds
substantial interests in conventional television, out-of-home
advertising, specialty cable channels, web sites and radio
stations and networks in Canada, New Zealand, Australia, Turkey,
Indonesia, Singapore, the United Kingdom and the United States.

On October 6, 2009, Canwest Global, Canwest Media Inc., Canwest
Television Limited Partnership (including Global Television,
MovieTime, DejaView and Fox Sports World), The National Post
Company and certain subsidiaries voluntarily entered into, and
successfully obtained an Order from the Ontario Superior Court of
Justice (Commercial Division) commencing proceedings under the
Companies' Creditors Arrangement Act.  The CMI Entities'
commencement of these proceedings was undertaken in furtherance of
a proposed recapitalization transaction that is supported by over
70% of holders of the 8% senior subordinated notes issued by CMI.

On the same day, FTI Consulting Canada Inc., the Court-appointed
Monitor in the CCAA proceedings, sought protection in the United
States Bankruptcy Court under Chapter 15 of the United States
Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 09-15994) for
certain of the entities involved in Canwest's television business
that filed for protection under the CCAA, including Canwest,
Canwest Media Inc. and Canwest Global Broadcasting
Inc./Radiodiffusion Canwest Global Inc.

Judge Stuart M. Bernstein presides over the Chapter 15 cases.
Evan D. Flaschen, Esq., at Bracewell & Giuliani LLP, in Hartford,
Connecticut, serves as Chapter 15 Petitioner's counsel.  The
Chapter 15 Debtors disclosed estimated assets of $500 million to
$1 billion and estimated debts of $50 million to $100 million.

In a regulatory filing with the U.S. Securities and Exchange
Commission, Canwest Media disclosed C$4,847,020,000 in total
assets and C$5,826,522,000 in total liabilities at May 31, 2009.

Bankruptcy Creditors' Service, Inc., publishes Canwest Bankruptcy
News.  The newsletter tracks the CCAA proceedings and Chapter 15
proceedings undertaken by Canwest Global Communications Corp. and
its affiliates (http://bankrupt.com/newsstand/or 215/945-7000).


CANWEST GLOBAL: OpenMedia.ca, Council Worry on Foreign Ownership
----------------------------------------------------------------
OpenMedia.ca and the Council of Canadians are raising concerns
about what the Canwest Global Communications Corp. filing for
bankruptcy protection means for increased concentration and
foreign ownership of Canadian media.  The organizations are
calling on the federal government to use the filing as an
opportunity to expand media democracy in Canada rather than use it
as a pretext for potentially reducing foreign ownership
restrictions on Canadian Media.

"Following the failed business model already employed by the
Aspers and Goldman Sachs in television has been a profound mistake
for CanWest," says Garry Neil, a Council of Canadians board member
and cultural policy expert.  "It is worrisome that the Aspers
might be kept around in order to satisfy ownership rules, possibly
just as window dressing to mask a major foreign takeover of
Canadian media."

"We believe that US creditors are already running CanWest, and
Canadians should be very concerned that asset sales will undermine
Canadian ownership regulations as they did with the Goldman Sachs
deal to buy Alliance Atlantis," says Peter Murdoch, Vice President
Media of the Communications, Energy and Paperworkers Union, which
represents more than 1,000 media workers at CanWest television
stations.

"In looking at the CanWest job losses, the blame can be placed
squarely in corporate mismanagement," says Steve Anderson,
coordinator of OpenMedia.ca (formerly the Campaign for Democratic
Media).  "What is the debt from? Not unprofitable journalism, but
rather acquisitions and mergers that were entirely unnecessary,
and profoundly unpopular with the public."

In a presentation to the CRTC two years ago, the Council of
Canadians cautioned against allowing the purchase of Alliance
Atlantis by broadcaster CanWest Global, which granted U.S.
investment bank Goldman Sachs nearly two-thirds ownership of two
of Canada's largest media companies.

"Foreign ownership restrictions are critical to maintaining
appropriate regulations in our broadcasting system," says Mr.
Neil.  "In turn, such regulations are essential to ensuring that
the private sector players have appropriate responsibility for
achieving the objectives of the Broadcasting Act, including
editorial diversity and bringing Canadian stories and artists to
our television screens.  All of this is essential for our
democracy, our culture."

"This further indicates a need to support independent, community
and public media so they can step into the void left by big
media," says Mr. Anderson.

"The CanWest crisis highlights how our newspapers are owned by an
anonymous group of international investment funds," says Maude
Barlow, national chairperson of the Council of Canadians.  "These
developments are a very troubling sign for media democracy in
Canada."

                      About Canwest Global

Canwest Global Communications Corp. (TSX: CGS and CGS.A) --
http://www.canwest.com/-- an international media company, is
Canada's largest media company.  In addition to owning the Global
Television Network, Canwest is Canada's largest publisher of
English language daily newspapers and owns, operates and holds
substantial interests in conventional television, out-of-home
advertising, specialty cable channels, web sites and radio
stations and networks in Canada, New Zealand, Australia, Turkey,
Indonesia, Singapore, the United Kingdom and the United States.

On October 6, 2009, Canwest Global, Canwest Media Inc., Canwest
Television Limited Partnership (including Global Television,
MovieTime, DejaView and Fox Sports World), The National Post
Company and certain subsidiaries voluntarily entered into, and
successfully obtained an Order from the Ontario Superior Court of
Justice (Commercial Division) commencing proceedings under the
Companies' Creditors Arrangement Act.  The CMI Entities'
commencement of these proceedings was undertaken in furtherance of
a proposed recapitalization transaction that is supported by over
70% of holders of the 8% senior subordinated notes issued by CMI.

On the same day, FTI Consulting Canada Inc., the Court-appointed
Monitor in the CCAA proceedings, sought protection in the United
States Bankruptcy Court under Chapter 15 of the United States
Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 09-15994) for
certain of the entities involved in Canwest's television business
that filed for protection under the CCAA, including Canwest,
Canwest Media Inc. and Canwest Global Broadcasting
Inc./Radiodiffusion Canwest Global Inc.

Judge Stuart M. Bernstein presides over the Chapter 15 cases.
Evan D. Flaschen, Esq., at Bracewell & Giuliani LLP, in Hartford,
Connecticut, serves as Chapter 15 Petitioner's counsel.  The
Chapter 15 Debtors disclosed estimated assets of $500 million to
$1 billion and estimated debts of $50 million to $100 million.

In a regulatory filing with the U.S. Securities and Exchange
Commission, Canwest Media disclosed C$4,847,020,000 in total
assets and C$5,826,522,000 in total liabilities at May 31, 2009.

Bankruptcy Creditors' Service, Inc., publishes Canwest Bankruptcy
News.  The newsletter tracks the CCAA proceedings and Chapter 15
proceedings undertaken by Canwest Global Communications Corp. and
its affiliates (http://bankrupt.com/newsstand/or 215/945-7000).


CAPTAIN'S TABLE: Expects to Emerge from Bankruptcy
--------------------------------------------------
The Bakery Cafe, Captain's Table, French Market Cafe, and Old Bay
Steamer have each filed for Chapter 11 bankruptcy protection.
Jeff Amy at Press-Register reports that the filers' owners said
that they expect to emerge from bankruptcy, while a new owner is
lined up to take over The Bakery Cafe, but not its debt.

Old Bay Steamer filed for bankruptcy protection on August 7, 2009,
listing $816,841.87 in assets against $904,659.96 in liabilities.
Its largest creditor, BancorpSouth Bank, is owed $720,021.93 on a
mortgage on the restaurant's building.

The Bakery Cafe Wilwal, Inc., filed for bankruptcy on June 26,
2009, listing $114,794 in assets against $202,095.55 in
liabilities.  It owes its biggest creditor, Internal Revenue
Service, about $143,730.55 in back taxes and penalties.

Best of New Orleans, Inc., dba The French Market Cafe, Inc., filed
for bankruptcy on September 9, 2009, listing $19,324.79 in assets
against $475,316.83 in liabilities.  Its biggest creditor, Regions
Bank, is owed about $235,000 on a secured loan.

Captain's Table filed for Chapter 11 bankruptcy protection on
September 28, 2009, listing $1 million to $10 million in assets
and $1 million to $10 million in debts.


CENTENNIAL COMMUNICATIONS: Has $19.5MM Net Income for Aug. 31 Qtr
-----------------------------------------------------------------
Centennial Communications Corp. reported net income of
$19.5 million, or $0.17 per diluted share, for the fiscal first
quarter of 2010 -- which ended August 31, 2009 -- as compared to
net income of $7.5 million, or $0.07 per diluted share, in the
fiscal first quarter of 2009.  Consolidated adjusted operating
income was $107.2 million for the fiscal first quarter, as
compared to $101.3 million for the prior-year quarter.

Centennial reported fiscal first-quarter consolidated revenue of
$258.9 million, which included $145.9 million from U.S. wireless
and $113.0 million from Puerto Rico operations.  Consolidated
revenue declined 2% versus the fiscal first quarter of 2009.  The
Company ended the quarter with 1,057,500 total wireless
subscribers, which compares to 1,090,400 for the year-ago quarter
and 1,078,200 for the previous quarter ended May 31, 2009.  The
Company reported 789,100 total access lines and equivalents at the
end of the fiscal first quarter, which compares to 596,700 for the
year-ago quarter.

At August 31, 2009, the Company had $1.48 billion in total
assets against total current liabilities of $460.54 million,
long-term debt of $1.75 billion, deferred income taxes of
$165.06 million, and other liabilities of $30.65 million,
resulting in stockholders' deficit of $925.89 million.  At
August 31, 2009, the Company had total liquidity of
$395.1 million, consisting of cash and cash equivalents
totaling $247.6 million and roughly $147.5 million available
under its revolving credit facility.

On September 3, 2009, the Company made a $52.5 million mandatory
excess cash flow payment under its senior secured credit facility,
which reduced the principal balance of its term loan thereunder to
$497.5 million.

The Senior Secured Credit Facility consists of a seven-year term
loan, maturing in February 2011, with an original aggregate
principal amount of $600.0 million, of which $550.0 million
remained outstanding at August 31, 2009.  The Senior Secured
Credit Facility requires amortization payments in an aggregate
principal amount of $550.0 million in two equal installments of
$275.0 million in August 2010 and February 2011.

The Senior Secured Credit Facility also includes a six-year
revolving credit facility, maturing in February 2010, with an
aggregate principal amount of up to $150.0 million; however,
$2.5 million of this commitment was from a subsidiary of Lehman
Brothers Holdings Inc.  Due to the Chapter 11 bankruptcy filing
by Lehman Brothers in September 2008, the Company believes it is
unlikely that the $2.5 million commitment will be honored by
Lehman Brothers.  The Company believes its useable commitments
under the revolving credit facility may be $147.5 million.  At
August 31, 2009, the Company had not borrowed any amounts under
the revolving credit facility.

On November 7, 2008, Centennial entered into a merger agreement
with AT&T providing for the acquisition of Centennial by AT&T.  On
October 13, 2009, AT&T and Centennial said they had entered into a
consent decree with the Department of Justice, which allows the
Merger to proceed, while requiring that AT&T divest Centennial's
operations in eight service areas in Louisiana and Mississippi.
The eight service areas are Alexandria, La., Lafayette, La., LA-3
(DeSoto), LA-5 (Beauregard), LA-6 (Iberville), LA-7 (West
Feliciana), MS-8 (Claiborne) and MS-9 (Copiah).

Under the terms of the merger agreement, Centennial stockholders
would receive $8.50 per share in cash.  The Merger was approved by
Centennial's stockholders in February 2009, but remains subject to
approval by the Federal Communications Commission and to other
customary closing conditions.  AT&T and Centennial expect that,
assuming timely satisfaction or waiver of all remaining closing
conditions, the Merger will be completed early in the fourth
quarter of calendar year 2009.

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?46fb

                  About Centennial Communications

Based in Wall, New Jersey, Centennial Communications
(NASDAQ: CYCL) -- http://www.centennialwireless.com/and
http://www.centennialpr.com/-- is a regional wireless and
broadband telecommunications service provider serving roughly
1.1 million wireless customers and roughly 789,100 access line
equivalents in markets covering more than 13 million Net Pops in
the United States and Puerto Rico.  In the United States, the
Company is a regional wireless service provider in small cities
and rural areas in two geographic clusters covering parts of six
states in the Midwest and Southeast.  The Company owns and
operates wireless networks in Puerto Rico and the U.S. Virgin
Islands, and in Puerto Rico, it is also a facilities-based, fully
integrated communications service provider offering broadband
communications services to business and residential customers.
Welsh, Carson, Anderson & Stowe is a significant shareholder of
Centennial.

Standard & Poor's Ratings Services said affected ratings,
including the 'B' corporate credit rating on Centennial
Communications remain on CreditWatch with positive implications,
where they were placed on Nov. 10, 2008, pending the company's
acquisition by AT&T Inc. (A/Negative/A-1).


CEQUEL COMMUNICATIONS: Moody's Raises Corp. Family Rating to 'B1'
-----------------------------------------------------------------
Moody's Investors Service upgraded its ratings for Cequel
Communications, LLC, including the company's Corporate Family
Rating and Probability of Default Rating (both to B1 from B2), and
assigned a B3 rating to the proposed $400 million issuance of
Senior Unsecured Notes due 2017.  Associated ratings for the
company's specific debt instruments were also upgraded, as
detailed below, and LGD assessments were updated to reflect the
proforma capitalization and change in debt mix.  Net proceeds from
the offering are expected to be used to repay $250 million of
Cequel's first lien term loan due November 2013 and $150 million
of its second lien term loan due May 2014.  As part of the
proposed transaction, the company also announced its desire to
amend the first lien term loan to (i) allow for the refinancing of
secured debt, (ii) seek future maturity extensions of the senior
secured credit facility, and (iii) create a carve-out under its
fixed charge coverage test to allow for certain bandwidth
investments over the next three years.  The proposed amendment
notably does not contemplate any modification of existing
financial maintenance covenants (other than the proposed capital
expenditure carve-out) or pricing of the bank credit facility.
The rating outlook has been revised to stable from positive.

The upgrades principally reflect the company's strong historical
operating performance and Moody's expectation of further
improvements which will continue to mitigate still high albeit
moderating financial risk over the forward rating horizon.
Consistent with Moody's previously outlined upgrade rating trigger
when the outlook was revised to positive in February 2009, Moody's
expect Cequel to reduce and sustain Moody's-adjusted debt-to-
EBITDA leverage of less than 5.5x in 2010 as increased penetration
of high-speed data and telephony services and at least mid-single-
digit revenue growth rates are realized along with further margin
improvement.  While the bandwidth expansion plan is expected to
add approximately $250 million or more of incremental capital
expenditures (more than $350 million including related success-
based capital spending) and subsequently adversely impacts free
cash flow through fiscal 2012, Moody's notably expect the
company's large excess cash balance to augment operating cash flow
as the primary (if not sole) funding source, with the undrawn
revolving credit facility serving as a back-stop if needed.
Moody's anticipates that the proposed system upgrades will benefit
Cequel via enhanced infrastructure reliability, faster data
throughput speeds and more high-definition and video-on-demand
service offerings, which combined should yield further gains in
customer satisfaction, increased service take-rates and a more
defensible competitive position.

Moody's has taken these rating actions:

Cequel Communications, LLC

* Corporate Family Rating -- Upgraded to B1 from B2

* Probability of Default Rating -- Upgraded to B1 from B2

* Senior Secured First Lien Credit Facilities -- Upgraded to Ba3
  (LGD 3, 32%) from B1 (LGD 3, 37%)

* Senior Secured Second Lien Credit Facilities -- Upgraded to B3
  (LGD 5, 82%) from Caa1 (LGD 5, 89%)

* Proposed New Senior Unsecured Notes -- Assigned B3 (LGD 6, 93%)

The rating outlook has been revised to stable from positive.

The B1 Corporate Family Rating broadly reflects the company's
still high albeit moderating financial risk and growing business
risk.  In particular, Moody's note Moody's-adjusted debt-to-EBITDA
leverage of 6.2x at June 30, 2009, modest and now declining free
cash flow generation and ongoing tightness of prospective covenant
compliance as expected over the interim period.  If the company
does not continue to perform at above-average levels and financial
flexibility is not improved further over the next couple of years,
it may be challenging to refinance the significant amount of bank
debt (notwithstanding some modest smoothing of maturities via the
introduction of a new junior-ranking debt class assuming
successful completion of the pending transaction) beginning in the
fourth quarter of 2013.  Moody's also expects the competitive
environment in Cequel's markets to intensify further over the
extended period, as DBS operators turn increasingly aggressive
with promotional offerings to combat slowing growth overall and
RBOC build-outs and marketing campaigns continue to ramp-up.  The
relative stability of the cable TV business model and the still
comparatively modest competitive threat of alternative service
providers somewhat mitigate the aforementioned financial risk.
The company also continues to benefit from ongoing revenue growth
and margin improvement opportunities given its relatively under-
penetrated ancillary service offerings, and has demonstrated good
progress to date in terms of acquiring, integrating, updating and
improving the operating performance of its cable systems over the
past few years.  These factors lend support to the revised B1
Corporate Family Rating.

The last rating action for Cequel was on February 26, 2009 when
Moody's revised the Company's rating outlook to positive from
stable.

Cequel Communications, LLC, headquartered in St. Louis, Missouri
and doing business as Suddenlink Communications, is a cable
operating company serving approximately 1.3 million video
customers.  The Company provides digital TV, high-speed Internet
and telephone service for the home and office and generated
revenues of approximately $1.5 billion for the twelve months ended
June 30, 2009.


CHEMTURA CORP: Assumes Mineral Rights, Land-Access Leases
---------------------------------------------------------
Chemtura Corp. and its units obtained the Court's authority to
assume several mineral rights leases, and land access and land use
leases.

  (a) Mineral Rights Leases -- Debtor Great Lakes Chemical
      Corporation is party to several thousand mineral
      leases, surface agreements or easement agreements with
      various land owners or mineral rights owners in South
      Arkansas.  In general, the Lease provide GLCC with the
      right to extract brine from the subsurface Smackover
      aquifer that underlies each owner's land.  The Brine
      Leases generally require annual payments of less than
      $1,000 each and may be cancelled by GLCC at any time.

  (b) Land-Access Lease -- Debtor Bio-Lab, Inc., is party to a
      land lease with Norfolk Southern Railway Company, which
      provides for access between the Norfolk Southern Railway
      Company to one of Bio-Lab's manufacturing sites in Adrian,
      Michigan.  The Adrian Lease generally requires monthly
      payments of $115 and extends through December 31, 2009.

  (c) Land Use Leases and Licenses -- Chemtura Corporation is
      party to 16 leases with the State of Connecticut, the
      Department of Transportation and the Metro-North Commuter
      Railroad Company, which authorize Chemtura to use certain
      land to install, use and maintain certain constructions
      related to Chemtura's operation in the Naugatuck,
      Connecticut area.  The Naugatuck Leases generally require
      annual payments that range from $18 to $3,500.

Richard M. Cieri, Esq., at Kirkland & Ellis LLP, in New York,
relates that the Leases are critical to the operation of the
Debtors' core business functions because many of the Debtors'
business operations are located at leased facilities subject to
the Leases.

A copy of the list of Leases is available for free at:

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

                       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)


CHINA AOXING: Paritz & Company Raises Going Concern Doubt
---------------------------------------------------------
Paritz & Company, P.A., in Hackensack, New Jersey, expressed
substantial doubt about China Aoxing Pharmaceutical Co., Inc.'s
ability to continue as a going concern after auditing the
Company's consolidated financial statements for the years ended
June 30, 2009, and 2008.

The auditing firm reported that at June 30, 2009, the Company's
current liabilities substantially exceeded its tangible current
assets, and that the Company sustained a loss from operations of
$4,003,065 for the year ended June 30, 2009.  In addition, the
auditing firm said that the Company is in default of the repayment
of note payable-bank of $6,094,428.

China Aoxing reported a net loss of $2,695,050 for the year ended
June 30, 2009, compared with net income of $3,646,859 for the
fiscal year ended June 30, 2008.

Sales during the year ended June 30, 2009, were $8,941,907, as
compared to sales of $7,065,015 during the fiscal year ended
June 30, 2008.

Loss from operations was $4,003,065 in fiscal year 2009 as
compared to the loss of $3,578,966 in fiscal year 2008, an
increase in $424,098 or 12%, primarily due to the increase in bad
debt reserve in the amount of $1,461,789 in fiscal year 2009.

Loss before minority interest and income taxes was $5,976,109 for
fiscal year 2009, compared to income before minority interest and
income taxes of $3,130,933 in fiscal 2008.  The 2008 income,
however, included a gain of $8,547,374 attributable to the change
in the value of the Company's outstanding warrants and derivative
liabilities that occurred when the market price of the Company's
common stock fell sharply.  If the adjustments for "change in fair
value of warrants and derivative liabilities" are removed from the
Company's financial results, the losses before minority interest
and income taxes are approximately equal in fiscal year 2008 and
fiscal year 2009.

The net loss in fiscal year 2009 was partially offset by a
$3,281,059 income tax credit that the Company recorded during the
year.  This represented management's calculation of the tax
benefit that the Company will realize in the future from its net
operating loss.  Realization of that benefit will depend, however,
on the Company's ability to achieve taxable profits.

At June 30, 2009, the Company's consolidated balance sheet showed
$56,744,484 in total assets, $32,105,281 in total liabilities, and
$24,639,203 total stockholders' equity.

The Company's consolidated balance sheet at June 30, 2009, also
showed strained liquidity with $6,944,098 in total current assets
available to pay $20,117,333 in total current liabilities.

Full-text copies of the Company's consolidated financial
statements for the year ended June 30, 2009, are available for
free at http://researcharchives.com/t/s?4707

                Liquidity and Capital Resources

The Company's working capital deficit at June 30, 2009, was
$13,173,235.  The Company's cash balance at June 30, 2009, was
$1,271,922, compared to $1,565,513 at June 30, 2008.

The Company's operations during the year ended June 30, 2009,
consumed $642,598 in cash.  This represented an improvement from
the $980,947 in cash that operations used in the 2008 fiscal year.

                       About China Aoxing

Based in Jersey City, N.J., China Aoxing Pharmaceutical Co., Inc.
(OTC BB: CAXG) is a specialty pharmaceutical company specializing
in research, development, manufacturing and distribution of a
variety of narcotics and pain-management products.  As of June 30,
2009, the Company had one operating subsidiary: Hebei Aoxing
Pharmaceutical Co., Inc. ("Hebei"), which is organized under the
laws of the People's Republic of China ("PRC").  During the year
ended June 30, 2009, Hebei integrated into itself the business
operations of Shijazhuang Lerentang Pharmaceutical Company, Ltd.
("LRT"), which had been an operating subsidiary acquired by Hebei
in May 2008.

Since 2002, Hebei has been engaged in developing narcotics and
pain management products, building its facilities and obtaining
the requisite licenses from the Chinese Government.  Hebei is
headquartered in Shijiazhuang City, the pharmaceutical capital of
China, outside of Beijing.


CHINA SXAN: Patrizio & Zhao Raises Going Concern Doubt
------------------------------------------------------
Patrizio & Zhao, LLC, in Parsippany, New Jersey, expressed
substantial doubt about China Sxan Biotech, Inc.'s ability to
continue as a going concern after auditing the Company's
consolidated financial statements for the years ended June 30,
2009, and 2008.  The auditing firm reported that the Company has
incurred extensive losses from operations and that management
believes the Company will continue to incur losses.

China Sxan Biotech, Inc. reported a net loss of $6,652,453 on
sales of $60,575 for the year ended June 30, 2009, compared with
net income of $2,809,436 on sales of $12,587,579 in fiscal 2008.

Early in the 2009 fiscal year, the Company's management determined
that the Company's business, as then structured, was not
sustainable.  As a result, management resolved to temporarily halt
operations and formed an exploratory committee to evaluate the
possibility of utilizing the current production lines and
inventories toward the manufacture and distribution of other frog
related products.

The suspension of operations forced the Company to write-off the
value of its inventory of forest frogs.  The resulting "loss on
damaged inventory" of $6,461,367 was the primary factor in the
Company's realization of a net loss of $6,652,453 for the year
ended June 30, 2009, as compared to net income of $2,809,436 for
the previous year.

At June 30, 2009, the Company's consolidated balance sheet showed
$7,634,771 in total assets, $1,640,855 in total liabilities, and
$5,993,916 in total stockholders' equity.

Full-text copies of the Company's consolidated financial
statements for the year ended June 30, 2009, are available for
free at http://researcharchives.com/t/s?46fd

Based in Tieli City, Heilongjiang Province, P.R. China, China Sxan
Biotech, Inc., formerly American SXAN Biotech Biotech, Inc.,
acquired 100% of the registered capital stock of Tieli
XiaoXingAnling Forest Frog Breeding Co., Ltd. in October 2006.

Tieli XiaoXingAnling was organized in 2003 in the City of Tieli,
which is in the Heilongjiang Province in northeast China.  Tieli
XiaoXingAnling is engaged in the business of breeding forest
frogs, which are also known as snow frogs or winter frogs, since
they are traditionally harvested just prior to their winter
hibernation in order to maximize the frog's fat content.  Tieli
XiaoXingAnling has obtained patents from the government of China
to produce therapeutic wines and tonics from its forest frogs.
Tieli XiaoXingAnling has been marketing its forest frog products
since 2004 under the brand "Xiao Xing'an Mountain."

The desirable portion of the Chinese forest frog, known as
"hasma," is a combination of the frog's ovaries and surrounding
fatty tissues.  Throughout Chinese history, hasma has been used to
treat respiratory problems such as coughing, hemoptysis
(expectoration of blood), and night sweats attributable to
tuberculosis.  Many Chinese residents also believe that forest
frog hasma improves immune function, aids in the treatment of
neurasthenia, and slows aging.

In its first two years of operations, Tieli XiaoXingAnling
concentrated on the breeding of forest frogs and sale of hasma.
In 2006 Tieli XiaoXingAnling began to market products enriched
with forest frog hasma.


CHAMPION ENTERPRISES: S&P Downgrades Corp. Credit Rating to 'D'
---------------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
ratings on Champion Enterprises Inc. and its wholly owned
subsidiary, Champion Home Builders Co., to 'D' from 'CC'.  S&P
also lowered the rating on the subsidiary's secured credit
facility to 'D' from 'C'.  The rating on Champion Enterprises'
convertible debt is unchanged at 'C'.  S&P's recovery ratings on
both companies' debt are unchanged.

"The rating actions reflect Champion's failure to make recent
interest and principal payments on its rated bank debt," said
credit analyst George Skoufis.  "Champion has entered into a
waiver and forbearance agreement that waives certain financial
covenants and forbears the lender group from accelerating the
maturity of the outstanding borrowings under the credit agreement
until Oct. 31, 2009, subject to certain triggering events."

The company was not in compliance with the credit facility's
covenant minimum EBITDA of $6.4 million (actual EBITDA was
negative $0.7 million) and minimum liquidity of $35 million
(actual liquidity was $27 million).  The covenants tighten further
in the remaining two quarters of fiscal 2009, and they revert back
to the original and more onerous financial covenants on Jan.  2,
2010, when the amendment period expires.  It is S&P's view that,
given the current operating environment, the company is unlikely
to regain compliance with its existing financial covenants.


CHRYSLER LLC: Treasury Balks at $33M Fees in Old Carco Ch. 11
-------------------------------------------------------------
Law360 reports that The U.S. Treasury is haggling over $33 million
in professional fees in the Old Carco LLC liquidation, claiming
the firms are not entitled to payment for services outside the
wind-down - especially as the cast-off Chrysler entity has not
repaid the U.S. government's $3.8 billion loan.

Various professionals retained in connection with Old CarCo LLC's
bankruptcy cases have filed applications for payment of fees and
reimbursement of expenses.  The professionals include:

Professional        Applicable Period           Fees   Expenses
------------        -----------------           ----   --------
Jones Day           April 30 to Aug. 31,  $20,474,318   $990,916
                           2009

Greenhill & Co.     April 30 to Aug. 31,    1,000,000    150,317
LLC                        2009

Cahill Gordon &      May 1 to Aug. 31,        398,753     11,113
Reindell LLP               2009

Kramer Levin             Aug. 2009            447,026     15,961
Naftalis &
Frankel LLP

Capstone Advisory   April 30 to Aug. 31,    4,586,604    392,801
Group LLC                  2009

The Court will hear certain of the fee applications on October 22,
2009.

                        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)


CIB MARINE: Seeks to Retain Baker Tilly as Financial Advisor
------------------------------------------------------------
CIB Marine Bancshares, Inc., is seeking permission from the
Bankruptcy Court to hire Baker Tilly Virchow Krause as financial
advisor.

According to BankruptcyData, the Debtor proposes to pay Baker
Tilly at hourly rates ranging from $130 to 315.  Baker Tilly also
estimates a charge for the following services: analysis of
alternative valuations at $15,000 to 25,000, explanation or
defense of valuations at $10,000 to $20,000 and providing
testimony to the Court as required in support of Debtor's motions
as they may be filed at $7,500 to 15,000.

CIB Marine Bancshares, Inc. (PINKSHEETS: CIBH) --
http://www.cibmarine.com/-- is a one-bank holding company with 17
banking offices in central Illinois, Wisconsin, Indiana, and
Arizona.

CIB Marine Bancshares is asking holders of its trust preferred
securities to give advance approval of a pre-packaged plan of
reorganization under Chapter 11 of the Bankruptcy Code that would
involve conversion of their debt securities to preferred stock.

Under the Plan of Reorganization, roughly $105.3 million of high-
interest cumulative indebtedness would be exchanged for 55,624
shares of Series A 7% fixed rate perpetual noncumulative preferred
stock with a stated value of $1,000 per share and 4,376 shares of
Series B 7% fixed rate convertible perpetual preferred stock with
a stated value of $1,000 per share.  Each share of CIB Marine's
Series B Preferred would be convertible into 4,000 shares of the
Company's common stock only upon the consummation of a merger
transaction involving the company.  The Company Preferred would
have no stated redemption date and holders could never force the
Company to redeem it.


CIRCUIT CITY: Insurers Reach Deal on Hurricane Claims
-----------------------------------------------------
ABI reports that Bankrupt electronics retailer Circuit City Stores
Inc. has reached a settlement with insurers N including Lexington
Insurance Co., Liberty Mutual Fire Insurance Co. and underwriters
at LloydOs Insurance Co. N over claims for damage to stores and
business interruption resulting from Hurricane Ike in 2008.

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

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

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

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

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


CIT GROUP: Amends Restructuring Plan to Win Bondholder Support
--------------------------------------------------------------
CIT Group Inc. on Friday said it has amended its restructuring
plan to further build bondholder support.  The amendments have
been approved by CIT's Board of Directors and the Steering
Committee of CIT's bondholders.

On October 1, 2009, CIT commenced a series of offers to exchange
certain outstanding series of notes and concurrently began a
solicitation for votes for a voluntary prepackaged plan of
reorganization.  Successful completion of either the exchange
offers or plan of reorganization will generate significant capital
and provide multi-year liquidity through the material reduction of
CIT's outstanding debt.

"Over the last two weeks, we have continued to work constructively
with the Steering Committee and believe that these amendments will
further build bondholder support for our restructuring plan," said
Jeffrey M. Peek, Chairman and CEO. "Through the completion of the
exchange offers or an expedited in-court restructuring process, we
will reduce the uncertainty around our business and further
maximize the value of our franchise. Either approach is intended
to ensure that CIT becomes a well-capitalized bank holding company
that will serve as a source of strength for CIT Bank as we
implement our new bank-centric funding model."

As reported by the Troubled Company Reporter on October 14, Dan
Wilchins and Paritosh Bansal at Reuters, citing people familiar
with the matter, have said CIT is seeing little interest from
bondholders in its debt exchange offer, making bankruptcy
increasingly likely.  According to the report, the sources said
that CIT is more likely to try a prepackaged bankruptcy.
Investors in CIT securities said that the Company may not find
enough debtholder approval for a prepackaged bankruptcy.

              Amended Terms of the Restructuring Plan

The amended terms of the restructuring plan include, among others:

    * A comprehensive cash sweep mechanism to accelerate the
      repayment of the new notes;

    * The shortening of maturities by six months for all new notes
      and junior credit facilities;

    * An increased amount of equity offered to subordinated debt
      holders reflecting agreements with holders of the majority
      of its senior and subordinated debt;

    * The inclusion of the notes maturing after 2018 that had
      previously not been solicited as part of the exchange offer
      or plan of reorganization;

    * An increase in the coupon on Series B Notes, to 9% from 7%,
      being issued by CIT Delaware Funding; and

    * Provided preferred stock holders contingent value rights in
      the plan of reorganization, and modified the allocation of
      common stock in the recapitalization after the exchange
      offers, as part of an agreement with the United States
      Department of Treasury.

The exchange offers expire at 11:59 p.m., New York City time, on
Thursday, October 29, 2009, with the exception of the additional
notes maturing after 2018 for which there is an early acceptance
date of October 29, 2009, and expiration date of November 13,
2009.  Tendered securities may be validly withdrawn at any time
prior to the expiration or early acceptance date.

                           NYSE Approval

On October 14, 2009, the New York Stock Exchange accepted CIT's
application of the financial viability exception to the NYSE's
shareholder approval policy in connection with the issuance of the
New Preferred Stock should the Offers be consummated.  The Audit
Committee of the Company's Board of Directors has approved the use
of this exception.

The Information Agent for the Offer is D.F. King & Co. Financial
Balloting Group, LLC is serving as Exchange Agent for the Exchange
Offers and Voting Agent for the Plan of Reorganization.  Retail
holders of notes with questions regarding the voting and exchange
process should contact the information agent at (800) 758-5880 or
+1 (212) 269-5550.  Banks and brokers with questions regarding the
voting and exchange process should contact the exchange and voting
agent at +1 (646) 282-1888.  BofA Merrill Lynch and Citigroup
Global Markets are acting as financial advisors to the Company for
purposes of this transaction.

Evercore Partners, Morgan Stanley and FTI Consulting are the
Company's financial advisors and Skadden, Arps, Slate, Meagher &
Flom LLP and Sullivan & Cromwell LLP are legal counsel in
connection with the restructuring plan.

                        Restructuring Plan

CIT Group, on July 29, 2009, entered into a credit agreement,
with Barclays Bank PLC, as administrative agent and collateral
agent, and the lenders party thereto, for loans of up to
$3 billion.  In connection with the credit agreement, CIT Group
was required to adopt a restructuring plan acceptable by lenders
starting October 1, 2009.

CIT Group on October 1 announced that it has commenced a
restructuring of its capital structure that has been approved by
the Company's Board of Directors and by the Steering Committee of
CIT's bondholders.  The announcement is an important step in a
comprehensive restructuring plan to enhance CIT's capital levels,
improve its liquidity and return the Company to profitability.

Under the plan, CIT Group Inc. and CIT Group Funding Company of
Delaware LLC (Delaware Funding) are launching exchange offers for
certain unsecured notes.  Under CIT's restructuring plan, holders
of $1,000 of old notes maturing in 2009 will receive $900 in New
Notes and 0.40749 shares of new preferred stock; in 2010 will
receive $850 in new notes and 1.22248 shares of new preferred
stock; in 2011 and 2012 will receive $800 in new notes and 2.03746
shares of new preferred stock; in 2013 through 2017 and in 2036
will receive $700 in new notes and 3.25993 shares of new preferred
stock; in 2018 will receive 4.07492 in shares of new preferred
stock; and in 2067 will receive 2.03746 shares of new preferred
stock.  The Offers will expire at 11:59 p.m., (prevailing Eastern
Time), on October 29, 2009.

The Company said that if it does not achieve the objectives of the
exchange offers, it may decide to initiate a voluntary filing
under Chapter 11 of the U.S. Bankruptcy Code.  Therefore, the
Company is concurrently soliciting bondholders and other holders
of CIT debt to approve a prepackaged plan of reorganization.  The
Company has been informed by advisors to the Steering Committee
that, subject to review of the offering memorandum, approximately
$10 billion of outstanding unsecured indebtedness have already
indicated their intention to participate in the exchange offer or
vote for the prepackaged plan of reorganization.

                       About CIT Group Inc.

CIT Group Inc. (NYSE: CIT) -- http://www.cit.com/-- is a bank
holding company with more than $60 billion in finance and leasing
assets that provides financial products and advisory services to
small and middle market businesses.  Operating in more than 50
countries across 30 industries, CIT provides an unparalleled
combination of relationship, intellectual and financial capital to
its customers worldwide.  CIT maintains leadership positions in
small business and middle market lending, retail finance,
aerospace, equipment and rail leasing, and vendor finance.
Founded in 1908 and headquartered in New York City, CIT is a
member of the Fortune 500.

As of June 30, 2009, CIT Group had total assets of $71,019,200,000
against total debts of $64,901,200,000.


CITIZENS FIRST: Receives NASDAQ Non-Compliance Notice
-----------------------------------------------------
Citizens First Bancorp, Inc., the holding company for CF Bancorp,
a Michigan savings bank on October 15 said that on October 9, 2009
it received a letter from the Listing Qualifications Staff of The
Nasdaq Stock Market notifying the Company that it failed to comply
with Nasdaq's minimum bid price requirements for continued listing
set forth in Nasdaq Marketplace Rule 5450(a)(1), which requires
companies to maintain a minimum bid price of $1.00 per share.

In accordance with Marketplace Rule 5810(c)(3)(A), the Company has
180 calendar days to regain compliance with the Minimum Bid Price
Rule.  The Staff will provide written notification to the Company
that it has achieved compliance with the Minimum Bid Price Rule
if, at any time before April 7, 2010, the minimum bid price of the
Company's common stock closes at $1.00 per share or more for at
least 10 consecutive trading days.  If the Company does not regain
compliance with the Minimum Bid Price Rule by the required
deadline, the Company's common stock will be subject to delisting
from the Nasdaq Global Select Market.  The Company may, however,
be eligible for an additional grace period if it satisfies the
initial listing standards (with the exception of the Bid Price
Rule) for listing on The Nasdaq Capital Market, and it submits a
timely application to Nasdaq to transfer the listing of its common
stock to the Nasdaq Capital Market.  The Company will continue to
evaluate its options with respect to maintaining the listing of
its common stock on the Nasdaq stock market.

                About Citizens First Bancorp, Inc.

CF Bancorp is a wholly owned subsidiary of Citizens First Bancorp,
Inc., a thrift holding company headquartered in Port Huron,
Michigan.


CITY OF VALLEJO: Spending to Raise Deficit to $12MM in 5 Years
--------------------------------------------------------------
A Vallejo city report says that if city spending continues at its
current rate, its deficit could rise as high as $12 million in the
next five years.

Jessica A. York at Vallejo Times Herald reports that for the city
to emerge from Chapter 9 bankruptcy, it must show a federal
bankruptcy judge a five-year spending plan without a deficit.
According to Vallejo Times, city executives wrote in a quarterly
report to the Vallejo City Council, saying that the city's
revenues have dropped almost 20% in the past two years, and future
revenue looks even worse.

Vallejo Times relates that the council and on November 3, voters
will decide the fate of the proposed continuation of a
communication-based utility tax, while the state will decide
whether to exempt Vallejo from a plan to borrow property tax
revenue.  Vallejo Times states that the city's budget plan
proposes using $100,000 of late tax revenue from developer Lennar
Mare Island to reintroduce police cadet security on Mare Island.
According to the report, city Finance Director Rob Stout said that
another $737,000, which must be used on Mare Island, won't be
considered until January.

Vallejo -- http://www.ci.vallejo.ca.us/GovSite-- is a city in
Solano County, in California. As of the 2000 census, the city had
a total population of 116,760. It is located in the San Francisco
Bay Area on the northern shore of San Pablo Bay.  The City is a
charter city organized and exercising governmental functions under
its charter and the laws and constitution of the state.  Its
governing body is its City Council.

The City filed for protection under Chapter 9 of the U.S.
Bankruptcy Code on May 23, 2008 (Bankr. E.D. Calif. Case No.
08-26813).  Marc A. Levinson, Esq., and Norman C. Hile, Esq., at
Orrick, Herrington & Sutcliffe LLP in Sacramento, California,
represent the City.


CHEMTURA CORP: PBGC to File Consolidated Claim
----------------------------------------------
Chemtura Corp. and Pension Benefit Guaranty Corporation agreed
that PBGC will be allowed to file consolidated proofs of claim in
the Debtors' Chapter 11 cases.

The Parties further agreed that any amendments that PBGC may make
with respect to any timely-filed proof of claim or proofs of
claim filed by PBGC, on its own behalf or on behalf of each of
the pension plans it represents, in the Debtors' jointly-
administered Chapter 11 Case will be deemed to constitute the
filing of an amended proof of claim or proofs of claim in all of
the debtor affiliate cases.

The Parties' stipulation is intended solely for administrative
convenience and will not affect the substantive rights of the
Debtors, PBGC, the statutory committee of unsecured creditors
appointed in the Chapter 11 cases or any other party-in-interest
with respect to the number, allowance, amount or priority of the
PBGC's claims or with respect to any objection, defense, offset,
counterclaim, acceptance or rejection related to PBGC's claims.

                       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 to Reject Bio-Lab Lease With Ashley
-----------------------------------------------------------
Chemtura Corp. and its units ask the Court for authority to reject
two warehouse leases of Debtor Bio-Lab Inc. with Ashley Conyers
LLC:

  * The first lease is for warehouse space located in a building
    at 1601 Rockdale Industrial Boulevard, in Conyers, Georgia,
    or otherwise known as the Conyers 25 Lease; and

  * The second lease is for warehouse space located in a
    building at 1350 Lester Road, in Conyers, Georgia, or
    otherwise known as the Conyers 14 Lease.

Richard M. Cieri, Esq., at Kirkland & Ellis LLP, in New York,
relates that Bio-Lab's monthly cost under the Conyers 25 Lease is
approximately $128,713.  The Conyers 25 Lease is scheduled to
expire on December 31, 2010.  Bio-Lab's monthly cost under the
Conyers 14 Lease is approximately $68,797.  The Conyers 14 Lease
is scheduled to expire on October 31, 2009.

Mr. Cieri tells the Court that Bio-Lab would like to continue to
use the Conyers Facility as warehouse space and as a distribution
center for its products, but has realized that the terms of the
Leases are burdensome.  Specifically, Bio-Lab asserts that the
rent under the Leases is substantially above market as compared
to leases for other similar types of space.

Bio-Lab informs the Court that it has approached Kiser-Harriss
Chemical Distribution Centers, Inc., a third party logistic
provider with whom the Debtors have contracted for similar
services previously, on the possibility of exiting the Leases
under their current terms and conditions and analyze other less
financial burdensome ways to continue using the premises.
Subsequently, Bio-Lab negotiated a third-party provider and
warehouse agreement with Kiser-Harriss, who in turn, negotiated
its own lease for the Conyers Facility.

Mr. Cieri asserts that the third-party arrangement will allow
Bio-Lab to maintain the benefits of using the Conyers Facility at
significant savings compared to the costs of leasing the facility
from the Landlord under the current Leases.

Although the Debtors' deadline to assume or reject the Leases was
set to expire on October 14, 2009, pursuant to Section 365(d)(4)
of the Bankruptcy Code, the Debtors and Ashley Conyers entered
into a stipulation extending the Debtors' time to make that
decision with respect to the Leases through January 10, 2010, in
order to provide the Debtors, Ashley Conyers and Kiser-Harriss
with ample time to negotiate and document a mutually beneficial
third-party provider arrangement, according to Mr. Cieri.

After negotiations between the parties, Kiser-Harriss and Ashley
reached an agreement with respect to a new lease of the Conyers
Facility whereby Kiser-Harriss will become the new lessee of the
Conyers Facility effective as of October 31, 2009, once Bio-Lab's
rejection of the Leases is approved by the Court.

Additionally, Kiser-Harriss and Bio-Lab, in the ordinary course
of business, have entered into a warehouse agreement pursuant to
which Kiser-Harriss will agree to store and handle Bio-Lab's
chemicals and products within the Conyers Facility and to perform
other custody, control and storage services as may be necessary.
Under the arrangement with Kiser-Harriss, Bio-Lab has arranged to
exit the Leases while still using the Conyers Facility as
warehouse space under Kiser-Harriss' management.

As a result of the arrangements, Ashley Conyers has entered into
a stipulation with Bio-Lab pursuant to which Ashley Conyers
agrees to waive its right to assert any claim against Bio-Lab for
damages with respect to future rent otherwise due under and
arising from the rejection of the Leases.  Specifically, the
Stipulation provides that (1) Ashley will have no damage claim
whatsoever for future rent arising from the rejection of the
Leases, and (2) Ashley waives any right to raise any claim it may
have had, may have or now has, through the date of the
Stipulation, against Bio-Lab under the Leases.  However, Ashley
is permitted to file a proof of claim for unpaid rent and other
amounts due under the Leases as of March 18, 2009.

                       About Chemtura Corp.

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

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

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

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


CHEMTURA CORP: U.S. Bank to File Consolidated Claim
---------------------------------------------------
Chemtura Corp. and U.S. Bank National Association, in its capacity
as successor indenture trustee to Wells Fargo Bank N.A., for the
holders of $500,000,000 of 6.875% Notes Due 2016 issued by
Chemtura Corp., in a stipulation, agreed that:

  -- U.S. Bank may file a single consolidated proof of claim in
     the Chemtura bankruptcy case asserting all claims arising
     on or before the Petition Date against each of the Debtors
     who guaranteed the Notes, provided, however, that the Proof
     of Claim will separately identify each claim U.S. Bank
     holds against each Debtor.  Unless the Parties agree
     otherwise, their stipulation will also apply to amendments
     to any timely filed Proof of Claim;

  -- The consolidated Proof of Claim will be deemed to
     constitute the filing of the proof of claim or proofs of
     claim in all cases jointly administered under Case No.
     09-11233 (REG) assigned to Chemtura Corp., et al.
     Consequently, each claim filed by U.S. Bank in the Lead
     Case will represent a separate claim asserted against
     Chemtura and each of the Debtor Guarantors, and U.S. Bank
     will not be required to file a proof of claim in any
     separate reorganization case other than the Lead Case;

  -- U.S. Bank will not be required to file with its Proof of
     Claim instruments, agreements and other documents
     evidencing the claims of U.S. Bank and the Holders,
     provided that upon request, U.S. Bank will make copies of
     the Documents available to requesting parties-in-interest;
     and

  -- The Stipulation is intended solely for the purpose of
     administrative convenience and will not affect the
     substantive rights of the Debtors, U.S. Bank, the statutory
     committee of unsecured creditors appointed in the Chapter
     11 cases or any other party-in-interest with respect to the
     allowance, amount or priority of U.S. Bank's claims or any
     objection, defense, offset or counterclaim related to U.S.
     Bank's claims.  Nothing in the Stipulation will constitute
     an admission of any fact or of liability with respect to
     any claim.

                       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)


CLAIRE'S STORES: Bank Debt Trades at 22% Off in Secondary Market
----------------------------------------------------------------
Participations in a syndicated loan under which Claire's Stores,
Inc., is a borrower traded in the secondary market at 78.08 cents-
on-the-dollar during the week ended Friday, Oct. 16, 2009,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 3.96
percentage points from the previous week, The Journal relates.
The loan matures on May 29, 2014.  The Company pays 275 basis
points above LIBOR to borrow under the facility.  The bank debt
carries Moody's Caa2 rating while it carries 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 Oct. 16, among the 158 loans with five or more bids.

Claire's Stores, Inc. -- http://www.clairestores.com/-- operates
as a specialty retailer of fashion accessories and jewelry for
preteens and teenagers, as well as for young adults in North
America and internationally.  It offers jewelry products that
comprise costume jewelry, earrings, and ear piercing services; and
accessories, including fashion accessories, hair ornaments,
handbags, and novelty items.

Based in Pembroke Pines, Florida, Claire's Stores operates under
two brands: Claire's(R), which operates worldwide and Icing(R),
which operates only in North America.  As of Jan. 31, 2009,
Claire's Stores, Inc., operated 2,969 stores in North America and
Europe.  Claire's Stores, Inc., also operates through its
subsidiary, Claire's Nippon, Co., Ltd., 213 stores in Japan as a
50:50 joint venture with AEON, Co., Ltd.  The Company also
franchises 198 stores in the Middle East, Turkey, Russia, South
Africa, Poland and Guatemala.

As stated by the Troubled Company Reporter on Sept. 14, 2009,
Claire's Stores, Inc., reported a net loss of $3.733 million for
the three months ended Aug. 1, 2009, from a net loss of
$16.93 million for the three months ended Aug. 2, 2008.  The
Company reported a net loss of $32.75 million for the six months
ended Aug. 1, 2009, from a net loss of $52.50 million for the six
months ended Aug. 2, 2008.

At Aug. 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.


CLEARWIRE CORP: Bank Debt Trades at 2.45% Off in Secondary Market
-----------------------------------------------------------------
Participations in a syndicated loan under which Clearwire
Corporation is a borrower traded in the secondary market at 97.55
cents-on-the-dollar during the week ended Oct. 16, 2009, according
to data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents an increase of 0.49 percentage
points from the previous week, The Journal relates.  The loan
matures on July 2, 2014.  The Company pays 500 basis points above
LIBOR to borrow under the facility.  The bank debt carries Moody's
B3 rating but 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 Oct. 16, among the
158 loans with five or more bids.

Headquartered in Kirkland, Washington, Clearwire Corporation
(NASDAQ:CLWR) -- http://www.clearwire.com/-- offers a suite of
advanced high-speed Internet services to consumers and businesses.
The company is building the first, nationwide 4G mobile Internet
wireless network, bringing together an unprecedented combination
of speed and mobility.  Clearwire's open all-IP network, combined
with significant spectrum holdings, provides unmatched network
capacity to deliver next-generation broadband access.  Strategic
investors include Intel Capital, Comcast, Sprint, Google, Time
Warner Cable, and Bright House Networks.  Clearwire currently
provides mobile WiMAX-based service, to be branded Clear(TM), in
two markets and provides pre-WiMAX communications services in 50
markets across the U.S. and Europe.

As reported by the Troubled Company Reporter on Jan. 26, 2009,
Standard & Poor's Rating Services said it assigned its 'B-'
corporate credit rating to Kirkland, Washington-based wireless
carrier Clearwire Corp.  The outlook is stable.

Its units have junk ratings in Moody's Investors Service.  As
reported by the Troubled Company Reporter on Jan. 26, 2009,
Moody's assigned first-time ratings to Clearwire Communications
LLC (corporate family rating of Caa1 and speculative grade
liquidity rating of SGL-2) with a negative outlook.  The ratings
for Clearwire reflect the company's high financial and business
risk given the start-up nature of its operations.  In addition,
while Clearwire will operate as an independent company, Moody's
believe that there will be significant challenges to developing
the business, in part due to the diverse objectives of its
strategic investors.


CONSECO INC: Commences Cash Tender Offer for 3.5% Debentures
------------------------------------------------------------
Conseco, Inc., on October 15 said that it is commencing a cash
tender offer to repurchase any and all of its outstanding 3.50%
Convertible Debentures due September 30, 2035 (CUSIP Nos.
208464BH9 and 208464BG1).  As of the date hereof, there are
$293.0 million aggregate principal amount of Debentures
outstanding.

The tender offer will expire at 12:00 midnight, New York City
time, on November 12, 2009, unless extended or earlier terminated
by Conseco.  Tendered Debentures may be withdrawn at any time
prior to the expiration date.

Holders who validly tender and do not validly withdraw their
Debentures on or prior to the expiration date will be eligible to
receive an amount in cash equal to $1,000 for each $1,000
principal amount of Debentures tendered and accepted for payment.
This consideration is equal to the repurchase price holders would
be entitled to receive for their Debentures on September 30, 2010,
if they exercise their put right on such date.  In addition,
holders whose Debentures are purchased in the tender offer will
receive accrued and unpaid interest to, but not including, the
settlement date of the tender offer.  Conseco expects to pay the
consideration for Debentures that have been tendered and accepted
for purchase promptly following the expiration date.

The tender offer is made upon the terms and conditions set forth
in the Offer to Purchase dated October 15, 2009 and the related
Letter of Transmittal.  The tender offer is conditioned on the
satisfaction or waiver of certain conditions, including, but not
limited to, Conseco's receipt, on the settlement date of the
tender offer, of net proceeds from Conseco's previously announced
private sales of 7.0% Convertible Senior Debentures due 2016 and
common stock and warrants to purchase common stock in an aggregate
amount at least equal to the aggregate consideration payable for
Debentures accepted for purchase pursuant to the tender offer.

Conseco has retained Morgan Stanley & Co. Incorporated to act as
the dealer manager for the tender offer.  Persons with questions
regarding the tender offer should contact Morgan Stanley at (800)
624-1808 (toll-free).  Requests for documentation may be directed
to D.F. King & Co., Inc., the information agent, which can be
contacted at (212) 269-5550 (for banks and brokers only) or (888)
869-7406 (for all others toll free).

                       About Conseco Inc.

Headquartered in Carmel, Indiana, Conseco Inc. (NYSE: CNO) --
http://www.conseco.com/-- is the holding company for a group of
insurance companies operating throughout the United States that
develop, market and administer supplemental health insurance,
annuity, individual life insurance and other insurance products.
The company became the successor to Conseco Inc. (Old Conseco), in
connection with its bankruptcy reorganization.  CNO focuses on
serving the senior and middle-income markets.  The company sells
its products through three distribution channels: career agents,
professional independent producers and direct marketing.  CNO
operates through its segments, which includes Bankers Life,
Conseco Insurance Group, Colonial Penn, other business in run-off
and corporate operations.

As of June 30, 2009, the Company had $29.4 billion in total assets
and $27.0 billion in total liabilities

                          *     *     *

Moody's Investors Service has affirmed the ratings of Conseco,
Inc. (senior bank facility at Caa1) and its insurance subsidiaries
(insurance financial strength at Ba2) and changed the outlook to
positive from negative.

Standard & Poor's Ratings Services said that it affirmed its 'CCC'
counterparty credit rating on Conseco Inc. and the 'BB-' financial
strength ratings on Conseco's insurance subsidiaries.  S&P revised
the outlook to stable from negative.


COLONIAL BANCGROUP: Gets Final Approval to Access Cash Collateral
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Alabama
authorized, on a final basis, The Colonial Bancgroup, Inc., to:

   -- use cash collateral in the Operating Account attributable to
     the Hedge Deposit in the aggregate amount of $1,425,000; and

   -- grant replacement liens to the claimants.

The Debtor is authorized to use a portion of funds which, as of
Aug. 25, 2009, were on deposit in its depository accounts at
Branch Banking & Trust Company.  The funds were transferred to the
Operating Account on Aug. 21, 2009, by wire transfer from SunTrust
Bank in Atlanta, Georgia, in connection with the liquidation of an
interest rate hedge agreement purchased by the Debtor from
SunTrust Bank.

The Debtor added that the three entities asserting any lien upon
or right to the cash collateral includes: (i) the State of Alabama
Department of Revenue, which asserts a tax lien; (ii) BB&T, which
does or may assert a security interest in or right to the
Operating Account; and (iii) the Federal Deposit Insurance
Corporation, in its capacity as receiver for Colonial Bank,
Montgomery, Alabama.

FDIC-Receiver also waives the necessity for a preliminary hearing
and the termination of the automatic stay under Section 362(e)(1)
of the Bankruptcy Code pending a final hearing; and the final
hearing on the Stay Motion scheduled for Nov. 17, 2009, will be
rescheduled for Dec. 9, 2009 at 10:00 a.m.

                   About The Colonial BancGroup

Headquartered in Montgomery, Alabama, The Colonial BancGroup, Inc.
(NYSE: CNB) provides diversified financial services, including
retail and commercial banking, wealth management services,
mortgage banking and insurance products.  The BancGroup derives
substantially all of its income from Colonial Bank, N.A (Colonial
Bank) its banking subsidiary.  Colonial bank --
http://www.colonialbank.com/-- operates 354 branches in Florida,
Alabama, Georgia, Nevada and Texas with over $26 billion in
assets.

On August 14, 2009, Colonial BancGroup's banking unit Colonial
Bank, Montgomery, AL, was closed by the Alabama State Banking
Department and the Federal Deposit Insurance Corporation was named
receiver.  The FDIC sold most of the assets to Branch Banking and
Trust, Winston-Salem, North Carolina.  BB&T acquired $22 billion
in assets and assumed $20 billion in deposits of the Bank.

Colonial BancGroup filed for Chapter 11 bankruptcy protection on
August 25, 2009 (Bankr. M.D. Ala. Case No. 09-32303).  W. Clark
Watson, Esq., at Balch & Bingham LLP and Rufus T. Dorsey IV,
Esq., at Parker Hudson Rainer & Dobbs LLP assist the Company in
its restructuring efforts.  The Company listed $45,000,000 in
assets and $380,000,000 in debts in its bankruptcy filing.


COMPAK COMPANIES: District Court Says Patent Sale Was Defective
---------------------------------------------------------------
WestLaw reports that a bankruptcy court's order approving the sale
of all of a patent owner's business assets was void insofar as it
purported to extinguish its sublicensees' patent license.  The
court never identified the license in the sale order.  The
sublicensees were not provided notice of the sale, thereby
depriving them of an opportunity to seek adequate protection.
Compak Companies, LLC v. Johnson, --- B.R. ----, 2009 WL 1543683
(N.D. Ill.) (Grady, J.).

Jimmie L. Johnson received U.S. Patent No. 5,246,106 -- see
http://is.gd/4nAex-- for a container designed to hold wine and
communion wafers for religious services.  Mr. Johnson assigned all
of his right, title and interest in that Patent to Compak
Companies, LLC.  Later, Mr. Johnson received U.S. Patent Nos.
5,456,351, 5,584,388 and 5,746,312 related to the ideas and
inventions which are the subject of the first patent.
Notwithstanding his agreement with Compak, Mr. Johnson purported
to assign the Subsequent Patents to PatPak Corporation.  PatPak
and Compak then executed an agreement in May 1997 granting Compak
a license to use the Subsequent Patents.  In 2001, Compak entered
into a series of agreements with DuoTech Holdings, LLC, granting
DuoTech a license to use all four patents.

Compak filed for chapter 11 protection (Bankr. N.D. Ill. Case No.
02 B _____) on June 10, 2002, its Communion Packaging Company
affiliate filed (Bankr. N.D. Ill. Case No. 02 B _____)
approximately four months later, and the bankruptcy court
consolidated the two cases.   On February 28, 2003, Compak moved
to sell substantially all of its assets to BMJ Partners.  DuoTech
didn't get notice of the sale.  BMJ was the successful bidder at a
public auction for Compak's assets and the bankruptcy court
entered an order approving the "free and clear" sale on March 24,
2003.  BMJ then assigned the purchased assets to non-debtor The
Compak Companies, LLC, in April 2003.

Compak's Chapter 11 reorganization was converted to a Chapter 7
liquidation on April 3, 2003.  Approximately six months later
DuoTech Packaging, LLC, filed an interpleader complaint in the
bankruptcy court against the debtors' Chapter 7 trustee, BMJ,
PatPak and Mr. Johnson alleging that it did not know which party
was owed royalties under the August 2001 license.   The bankruptcy
court approved a settlement in the interpleader action between
DuoTech and the trustees for the Compak and Johnson estates.


COYOTES HOCKEY: Possible Buyer Sees Potential in Franchise
----------------------------------------------------------
Eric Duhatschek at The Globe and Mail reports that prospective
Phoenix Coyotes buyer and Ice Edge Holdings chief Daryl Jones
hopes that by taking a methodical and low-key approach to
negotiations with the National Hockey League and Glendale, he may
ultimately get the deal to come his way.

The Globe and Mail quoted Mr. Jones as saying, "It's preliminary
in terms of we've been talking to them for a long time and have a
great relationship, but the next step is, the NHL gets the team
and then we probably start the process more formally."

The Globe and Mail relates that as part of the NHL's ongoing
stewardship of Phoenix Coyotes, it purchased a private box to
host, among others:

     -- Mr. Jones, a prospective buyer of the team;
     -- Heather Schroeder, president of the fan club; and
     -- a handful of bankruptcy lawyers who handled the court
        proceedings on the league's behalf.

According to The Globe and Mail, Mr. Jones met with Phoenix
Coyotes team president Doug Moss on Friday and renewed
acquaintances with Glendale mayor Elaine Scruggs, all part of his
strategy to buy the team once it emerges from bankruptcy and run
it in Arizona.

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.


CURTIS MACHINE COMPANY: Voluntary Chapter 11 Case Summary
---------------------------------------------------------
Debtor: Curtis Machine Company, Inc.
        2500 East Trail Street
        PO Box 700
        Dodge City, KS 67801

Bankruptcy Case No.: 09-23246

Chapter 11 Petition Date: October 14, 2009

Court: United States Bankruptcy Court
       Middle District of Florida, Ft. Myers Division

Judge:  Alexander L. Paskay

Debtor's Counsel: Stephen R. Leslie, Esq.
                  Stichter, Riedel, Blain & Prosser
                  110 East Madison Street, Suite 200
                  Tampa, FL 33602-4700
                  Tel: (813) 229-0144
                  Email: sleslie.ecf@srbp.com

Estimated Assets: $500,001 to $1,000,000

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 Betty Jane Curtis, chief executive
officer of the Company.


DANA HOLDING: Bank Debt Trades at 10.4% Off in Secondary Market
---------------------------------------------------------------
Participations in a syndicated loan under which Dana Holding
Corporation is a borrower traded in the secondary market at 89.58
cents-on-the-dollar during the week ended Oct. 16, 2009, according
to data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents an increase of 0.55 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 Oct. 16, among the
158 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 THIEL JOHNSON: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: David Thiel Johnson
        PO Box 660
        Liberty Lake, WA 99019

Case No.: 09-14666

Chapter 11 Petition Date: October 14, 2009

Court: United States Bankruptcy Court
       District of New Mexico

Judge: Robert H. Jacobvitz

Debtor's Counsel: Bonnie Bassan Gandarilla, Esq.
            Moore, Berkson & Gandarilla, P.C.
            PO Box 7459
            Albuquerque, NM 87194
            Tel: (505) 242-1218
            Fax: (505) 242-2836
            Email: mbglaw@swcp.com

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

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

The petition was signed by Mr. Johnson.

Debtor's List of 20 Largest Unsecured Creditors:

  Entity                       Nature of Claim        Claim Amount
  ------                       ---------------        ------------
Helaman Group, Inc.                                   $2,262,881
PO Box 660
Liberty Lake, WA 99019

Sterling Savings Bank                                 $1,992,843
PO Box 2128
Spokane, WA 99210

Bank of the Southwest                                 $1,500,000
509 Broadway
T or C, NM 87901

Shepards Group, Inc.                                  $1,276,264
PO Box 751241
Petaluna, CA 94975

High Desert State Bank                                $1,069,456
8110 Venture NE
Alburquerque, NE 87122

Pepper Highlands, LLC                                 $983,500
PO Box 751241
Peataluma, CA 94975

Lone Star Bank                                        $979,290
100 S Main
Moulton, TX 77975

Weinritter Realty LP                                  $976,790
PO Box 782129
San Antonio, TX 78278

Sallie Mae                                            $163,774
PO Box 9500
Wilkes Barre, PA 18773

Trust                                                 $134,344
fbo Anthony Mitchel
c/p PO Box 4458
Santa Fe, NM87502

Chase                                                 $45,265

Chase                                                 $43,218

Chase                                                 $30,954

Chase                                                 $28,658

Bank of America Alaska                                $21,977

Chase                                                 $20,139

American Express                                      $7,219
Attn: Bankruptcy Dept

American Express                                      $6,468

Stephen A. Mitchell                                   $5,920

Citibusiness                                          $5,881


DECKER COLLEGE: Vendetta, Agency's Lies Allegedly Caused Collapse
-----------------------------------------------------------------
R.G. Dunlop at Courier-Journal.com reports that lawyers of Robert
Keats, the trustee representing creditors in Decker College's
pending bankruptcy case, are seeking to convince the department
that one of its employees, federal student-aid official Ralph
LoBosco, improperly intervened in the Company's affairs by raising
questions about the validity of the accreditation for three
courses, resulting in the courses' accreditation being revoked,
costing Decker millions of dollars in federal student aid and
thrusting it into insolvency.  Mr. LoBosco's motive was his
animosity toward William Weld, the former Massachusetts governor
who was Decker's CEO during the months preceding its collapse in
October 2005, Courier-Journal.com says, citing the lawyers.  The
lawyers said in court filings that the Atlanta-based Council on
Occupational Education also made false statements about its
approval of the three Decker programs, for which the government
had provided substantial federal student aid.  According to
Courier-Journal.com, the dispute is being heard before a U.S.
Department of Education administrative law judge, with tens of
millions of dollars hanging in the balance that Decker and the
department claim each owes the other.

Louisville, Kentucky-based Decker College was formerly a for-
profit school that shut down in 2005 amid bankruptcy, federal
and state investigations.  The school was partially owned and ran
by former Massachusetts Gov. William Weld.

The TCR said on Oct. 2, 2007, that around $1.8 million of funds
belonging to Decker College is missing.  The amount was listed in
the school's assets in schedules filed with the Bankruptcy Court.
Della Justice, Esq., at the Kentucky Attorney General's consumer
protection division, said that the money, as well as the account
can't be found.  Ms. Justice believes that the amount was there at
the start of Decker's bankruptcy proceedings.


DEX MEDIA WEST: Bank Debt Trades at 14% Off in Secondary Market
---------------------------------------------------------------
Participations in a syndicated loan under which Dex Media West is
a borrower traded in the secondary market at 86.00 cents-on-the-
dollar during the week ended Oct. 16, 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
Oct. 22, 2014.  The Company pays 400 basis points above LIBOR to
borrow under the facility.  Moody's has withdrawn its rating on
the bank debt 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 Oct. 16, among the 158 loans with five
or more bids.

Dex Media West LLC is a subsidiary of Dex Media West, Inc., and an
indirect wholly owned subsidiary of Dex Media, Inc.  Dex Media is
a direct wholly owned subsidiary of R.H. Donnelley Corporation.
Dex Media West is the exclusive publisher of the official yellow
pages and white pages directories for Qwest Corporation, the local
exchange carrier of Qwest Communications International Inc., in
Arizona, Idaho, Montana, Oregon, Utah, Washington, and Wyoming.

R.H. Donnelley Corp. and 19 of its affiliates, including Dex Media
East LLC and Dex Media West LLC, filed for Chapter 11 protection
on May 28, 2009 (Bank. D. Del. Case No. 09-11833 through 09-
11852), after missing a $55 million interest payment on its senior
unsecured notes due April 15.  James F. Conlan, Esq., Larry J.
Nyhan, Esq., Jeffrey C. Steen, Esq., Jeffrey E. Bjork, Esq., and
Peter K. Booth, Esq., at Sidley Austin LLP, in Chicago, Illinois
represent the Debtors in their restructuring efforts.  Edmon L.
Morton, Esq., and Robert S. Brady, Esq., at Young, Conaway,
Stargatt & Taylor LLP, in Wilmington, Delaware, serve as the
Debtors' local counsel.  The Debtors' financial advisor is
Deloitte Financial Advisory Services LLP while its investment
banker is Lazard Freres & Co. LLC.  The Garden City Group, Inc.,
is claims and noticing agent.

As of March 31, 2009, the Company had $929,829,000 in total assets
and $1,023,526,000 in total liabilities, resulting in $93,697,000
in total shareholders' deficit.

Bankruptcy Creditors' Service, Inc., publishes R.H. Donnelley
Bankruptcy News.  The newsletter tracks the Chapter 11 proceedings
of R.H. Donnelley Corp. and its debtor-affiliates.
(http://bankrupt.com/newsstand/or 215/945-700)


DIOCESE OF WILMINGTON: Files for Chapter 11 Reorganization
----------------------------------------------------------
The Catholic Diocese of Wilmington Inc. has filed for Chapter 11
reorganization under the U.S. Bankruptcy Code.

Most Rev. W. Francis Malooly, Bishop of Wilmington, said in a
statement, "This is a painful decision, one that I had hoped and
prayed I would never have to make.  However, after careful
consideration and after consultation with my close advisors and
counselors, I believe we have no other choice, and that filing for
Chapter 11 offers the best opportunity, given finite resources, to
provide the fairest possible treatment of all victims of sexual
abuse by priests of our Diocese.  Our hope is that Chapter 11
proceedings will enable us to fairly compensate all victims
through a single process established by the Bankruptcy Court."

The bankruptcy filing automatically delays the case in Kent County
Superior Court, the first of eight consecutive abuse trials
scheduled in Delaware.  There are 131 cases filed against the
Diocese, with 30 scheduled for trial.

Bishop Malooly said it has been the Diocese's desire to settle all
claims against the Diocese of Wilmington through a mediation
process.  However, the Diocese failed to reach a settlement with
the eight cases scheduled to begin trial October 19.  "Our concern
throughout the negotiations was that too large a settlement with
these eight victims would leave us with inadequate resources to
fairly compensate the other 133 claimants, and continue our
ministry," Bishop Malooly said.

According to The Associated Press, Monday's case would have been
the first to come to trial under a Delaware law that created a
two-year "lookback" window that allowed claims of abuse to be
brought regardless of whether the statute of limitations had
expired.  More than 100 lawsuits were filed before the period
ended this summer, with four being settled.

The AP relates that Thomas Neuberger, an attorney representing 88
alleged victims, described the bankruptcy filing as a "desperate
effort to hide the truth from the public and conceal the thousands
of pages of scandalous documents" from being made public in court.

"This filing is the latest, sad chapter in the diocese's decades
long 'cover-up' of these despicable crimes, to maintain the
secrecy surrounding its responsibility and complicity in the
sexual abuse of hundreds of Catholic children," Mr. Neuberger said
in a statement.

The Diocese of Wilmington covers Delaware and the Eastern Shore of
Maryland and serves about 230,000 Catholics. It is the seventh
U.S. diocese to file for bankruptcy since allegations erupting
seven years ago against Catholic clergy in Boston.


DOLLAR THRIFTY: Expects Rental Revenues to Drop 12% in 3Q 2009
--------------------------------------------------------------
Dollar Thrifty Automotive Group, Inc., said October 15 that based
on preliminary results, it expects vehicle rental revenues for the
third quarter of 2009 to decrease approximately 12% compared to
the third quarter of 2008, as an approximate 12% improvement in
pricing on a year-over-year basis did not fully mitigate an
approximate 21% decline in transaction days.  Location closures
represented approximately 4% of the decline in transaction days,
while the remaining decline resulted from lower demand for our
services at our current price point and a planned reduction in our
fleet capacity as part of our focus on return on assets.

"Optimizing the mix between pricing and volume is a primary focus
area for the Company in 2009.  I am pleased to report for the
second consecutive quarter that the Company achieved a double-
digit increase in rate per day compared to the prior year period,
and also achieved its revenue targets for the quarter.  One other
highlight was that for the month of September, rental revenues
were down only 3% compared to September 2008, indicating we may
have seen the worst of the rental revenue declines for this
business cycle," said Scott L. Thompson, Chief Executive Officer
and President.

The above data relating to the third quarter results are
preliminary estimates based on information available at this time,
and will be updated in conjunction with the Company's third
quarter earnings release.

               About Dollar Thrifty Automotive Group

Dollar Thrifty Automotive Group, Inc. -- http://www.dtag.com/,
http://www.dollar.com/and http://www.thrifty.com/-- is a Fortune
1000 company headquartered in Tulsa, Oklahoma.  The Company's
brands, Dollar Rent A Car and Thrifty Car Rental, serve value-
conscious travelers in more than 70 countries.  Dollar and Thrifty
have more than 700 corporate and franchised locations in the
United States and Canada, operating in virtually all of the top
U.S. and Canadian airport markets.  The Company's roughly 6,800
employees are located mainly in North America, but global service
capabilities exist through an expanding international franchise
network.

As of June 30, 2009, the Company had $2.58 billion in total assets
and $2.35 billion in total liabilities.

                          *     *     *

The TCR said April 6, 2009, that Standard & Poor's Ratings
Services lowered its ratings on DTAG, including the long-term
corporate credit rating to 'CCC' from 'CCC+'.  The outlook is
negative.


ELODA CORP: Completes Sale of Assets to Partnership
---------------------------------------------------
Eloda Corporation (TSX-V: ELA) announced October 16 the sale of
100% of its assets to a limited partnership to be named "Societe
en commandite Eloda" as provided in the Partnership's offer to
purchase the Corporation's assets dated September 24, 2009 and
accepted by the Corporation on October 1, 2009, and ratified by
the Superior Court of Quebec on October 7, 2009.

The asset purchase agreement entered into between the Corporation
and the Partnership provides that all of the Corporation's assets
are purchased for a total cash consideration of $1,000,000. The
Corporation will use this amount to repay the promissory notes
held by the Partnership (for a total of $730,000).

The Superior Court of Quebec granted, when it approved the Offer,
an exemption from the formal valuation and shareholder approval
requirements of Regulation 61-101 respecting Protection of
Minority Securityholders in Special Transactions, as permitted
under section 65.13 of the Bankruptcy and Insolvency Act.

The Corporation intends, with the $270,000 net proceeds of the
sale of its assets, to make a proposal to its other creditors
under the BIA in approximately three weeks.

Concurrently with the sale of the Corporation's assets:

     -- The Corporation itself will cease all operations and
        therefore expects to be delisted from the TSX Venture
        Exchange shortly.

     -- The Corporation will change its name to become a numbered
        corporation as soon as possible.

     -- All employees of the Corporation are transferred to the
        purchaser.  The business of the Corporation, being to
        provide innovative, effective and user-friendly
        measurement and validation tools for the advertising
        industry, will now be pursued by the Purchaser under the
        name "Societe en commandite Eloda".

     -- Mr. Fran‡ois Rainville resigned as president of the
        Corporation.

The Corporation also announced that it has issued a new promissory
note of $30,000, for a total of $730,000, in respect of the loan
agreement of up to $800,000 announced on June 26, 2009.  The
promissory notes bear interest at the annual rate of 12% and shall
become due and payable upon demand by the holder.  The promissory
notes are not convertible into securities of the Corporation.  The
holder of the notes is the Partnership.

The loan agreement constitutes a related party transaction for the
purposes of Regulation 61-101 respecting Protection of Minority
Securityholders in Special Transactions, as disclosed in the
Corporation's press release dated June 26, 2009.


EXTENDICARE REAL ESTATE: Moody's Affirms 'B1' Corp. Family Rating
-----------------------------------------------------------------
Moody's Investors Service has affirmed the B1 Corporate Family
Rating of Extendicare Real Estate Investment Trust.  The rating
outlook remains stable.  This rating affirmation reflects the
skilled nursing facility operator's improved operating
performance, geographic diversification in the United States and
Canada, reasonable leverage, and solid fixed charge coverage,
which provides cushion against changes to US government
reimbursement policy -- a real and material risk to the SNF
sector.

Moody's notes that Extendicare's EBITDA and operating margins
showed good improvement in 1H09 due to higher average revenue
rates, cost savings, a stronger US dollar, and the absence of
unusual items that affected 2008 operating performance.  As a
result, fixed charge coverage is solid at 2.6x for TTM2Q09.
Extendicare is well-diversified geographically, with about one-
third of its facilities located in Canada and two-thirds in the
United States.  The REIT realizes lower returns from its Canadian
operations; however, this business provides a more stable cash
flow stream, reflecting Canadian healthcare policy.

The stability of Extendicare's Canadian operations is an important
counterbalance to its US SNF business, which is heavily reliant on
government reimbursement and thus subject to a much higher degree
of earnings volatility.  Moody's believes that the US Government
reimbursement outlook for SNFs is mildly negative over the near
term given the 1.1% net reduction in Medicare rates, which went
into effect 10/01/2009.  Longer term, the outlook is uncertain and
could be quite negative given high federal and state budget
deficits and potential changes to the overall US healthcare
system.

Another key credit challenge for Extendicare will be refinancing
its 2011 debt maturities which total about C$663 million,
including a US$500 million CMBS financing due in 4Q11.  The REIT
is in the process of exploring refinancing options, which include
a possible long-term HUD financing that could be executed at a
relatively attractive rate.  Debt maturities prior to 2011 are
very modest and the REIT is carrying a sizable cash position
(C$95 million of cash as of 2Q09).  Moody's notes that
Extendicare's capital structure limits its financial flexibility
as the majority of its assets are encumbered with secured
financing.

Moody's stable rating outlook for Extendicare is based upon
Moody's expectation that the REIT will sustain recent operational
improvements, which will help to offset potential negative changes
to US government reimbursement.

Moody's stated that upwards rating movement would result from
greater property type diversification resulting in a decreased
reliance on US government reimbursement, secured debt less than
30% of gross assets, and gross assets above C$2.5 billion, without
a material increase in leverage.  Downward rating pressure would
result from fixed charge coverage below 2.2x or Net Debt/EBITDA
above 6.0x on a sustained basis.

This rating was affirmed with a stable outlook:

* Extendicare Real Estate Investment Trust - B1 Corporate Family
  Rating

Moody's last rating action with respect to Extendicare was on
April 23, 2007, when Moody's assigned a first-time Corporate
Family Rating of B1 with a stable outlook.

Extendicare REIT is a provider of long-term and short-term senior
care services in the United States and Canada.  Through its
subsidiaries, Extendicare operates 264 senior care centers that
have capacity for about 29,500 residents.


EXTERRA ENERGY: Malone & Bailey Raises Going Concern Doubt
----------------------------------------------------------
Malone & Bailey PC, in Houston, Texas, expressed substantial doubt
about Exterra Energy, Inc.'s ability to continue as a going
concern after auditing the Company's financial statements for the
years ended May 31, 2009, and 2008.  The Company has not yet
established an ongoing source of revenues sufficient to cover its
operating costs and has defaulted on certain outstanding notes
payable.

As of May 31, 2009, Exterra Energy had cash of $7,505 and negative
working capital of $2,051,932.  This compares to cash of $9,190
and negative working capital of $1,606,488 for the year ending
May 31, 2008.

Total debt was $1,059,625 at May 31, 2009, compared to $1,037,234
at May 31, 2008.

The Company reported a net loss of $5,170,982 on oil and gas sales
of $437,968 for the year ended May 31, 2009, compared with a net
loss of $14,414,662 on oil and gas sales of $460,966 for the year
ended May 31, 2008.

The Company attributed the decrease in net loss primarily to a
decrease of oil and gas property impairment of $1,705,181 and a
decrease in stock issued for services and warrants issued for
services of $5,961,666.

At May 31, 2009, the Company's balance sheet showed $2,464,624
in total assets, $2,222,645 in total liabilities, and $241,979 in
total stockholders' equity.

The Company's balance sheet at May 31, 2009, also showed strained
liquidity with $50,442 in total current assets available to pay
$2,102,374 in total current liabilities.

Full-text of the Company's financial statements for the year ended
May 31, 2009, are available for free at:

               http://researcharchives.com/t/s?4708

Based in Amarillo, Texas, Exterra Energy Inc. was incorporated on
February 3, 2006 in the State of Nevada as Green Gold Inc.  The
Company was engaged in the exploration for jade.  Initial efforts
focused on the Green Gold Jade Property in British Columbia,
Canada.

The Company's business direction was changed in 2006 in order to
capitalize on the increasing availability of opportunistic
acquisitions in the energy sector.  In December 2006, the Company
acquired interests in four oil and gas assets, the Burnett,
Wuckowitsch and the University Lands leases, as well as a 9%
Working Interest in the Henry Dome prospect, all located in Texas,
USA.  In December 2007, the Company sold the Burnett and
Wuckowitsch leases.

In July 2007, the Company changed its name to Exterra Energy, Inc.


FAIRPOINT COMMS: Bank Debt Trades at 19.5% Off in Secondary Market
------------------------------------------------------------------
Participations in a syndicated loan under which FairPoint
Communications, Inc., is a borrower traded in the secondary market
at 80.47 cents-on-the-dollar during the week ended Oct. 16, 2009,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 2.83
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 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 Oct. 16, among the 158 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.

On Sept. 29, Moody's Investors Service repositioned FairPoint
Communications, Inc.'s Probability of Default Rating to Ca/LD from
Ca to reflect the limited default that has occurred following non-
payment of the principal due on its credit facility on Sept. 30,
2009.  The "/LD" suffix will be removed after three business days.


FILENE'S BASEMENT: Fendi Cries Foul Over $70M Filene's, DSW Deal
----------------------------------------------------------------
Law360 reports that luxury fashion company Fendi SRL has objected
to a deal among bankrupt Filene's Basement Inc., its former parent
Retail Ventures Inc. and shoe retailer DSW Inc. to wipe out
$70 million in claims related to loans, bills and other
obligations, citing concerns about the deal's effect on a pending
trademark case.

As previously reported by the TCR, Retail Ventures, Inc. and DSW
Inc. on September 25, 2009, entered into a settlement agreement
with FB Liquidating Estate, Inc., formerly known as Filene's
Basement, Inc., FB Services LLC and FB Leasing Services LLC and
the Official Committee of Unsecured Creditors appointed in the
Chapter 11 case for the Debtors.

According to a regulatory filing by Retail Ventures, the salient
terms of the Settlement Agreement are:

   * Retaile Ventures' claims against the Debtors in respect of
     $52.6 million in notes receivable will be released (during
     the quarter ended May 2, 2009, the Company recorded an
     allowance to fully reserve for these notes receivable as a
     result of the disposition of the Debtors to FB II Acquisition
     Corp., a subsidiary of Buxbaum Holdings, Inc.);

   * Retail Ventures will assume the rights and obligations
     related to (and agree to indemnify Liquidating Filene's
     Basement with regard to certain matters arising out of) the
     Liquidating Filene's Basement defined benefit pension plan;
     and

   * the Debtors and the Committee will allow certain general
     unsecured claims for amounts owed to the Company and DSW. The
     parties have also agreed to certain provisions affecting the
     proper allocation of proceeds paid to the Company or
     Liquidating Filene's Basement in connection with specified
     third party litigation and to certain provisions related to
     the Debtors' recovery from third parties that are the
     beneficiaries of letters of credit or hold collateral related
     to workers' compensation claims. The Settlement Agreement
     also provides for certain mutual releases among the Debtors,
     the Committee, the Company, DSW and other parties.

The Settlement Agreement is scheduled for hearing before the
Bankruptcy Court on October 15, 2009.

                      About Filene's Basement

Massachusetts-based Filene's Basement, also called The Basement,
is the oldest off-price retailer in the United States.  The
Basement focuses on high-end goods and is known for its
distinctive, low-technology automatic markdown system.

Filene's Basement first filed for Chapter 11 bankruptcy protection
in August 1999.  Filene's Basement was bought by a predecessor of
Retail Ventures, Inc., the following year.  Retail Ventures in
April 2009 transferred the unit to Buxbaum.

Filene's Basement, Inc. and its affiliates filed for Chapter 22 on
May 4, 2009, (Bankr. D. Del. Case No. 09-11525).  James E.
O'Neill, Esq., Laura Davis Jones, Esq., Mark M. Billion, Esq.,
Michael Seidl, Esq., and Timothy P. Cairns, Esq. at Pachulski
Stang Ziehl & Jones LLP, represent the Debtors in their
restructuring effort.  The Debtors listed $50,000,001 to
$100,000,000 in assets and $100,000,001 to $500,000,000 in debts.

The Debtor is now formally named FB Liquidating Estate, following
the sale of all of its assets to Syms Corp. in June 2009.


FINLAY ENTERPRISES: Joyce Magrini Resigns as Exec. Vice President
-----------------------------------------------------------------
Finlay Enterprises, Inc., disclosed in a filing with the
Securities and Exchange Commission that Joyce Manning Magrini
resigned from her position as executive vice president -
administration.

In addition, on Oct. 12, 2009, Ms. Magrini resigned from her
position as executive vice president - administration of the
Company's subsidiary, Finlay Fine Jewelry Corporation.  Ms.
Magrini's resignations are effective as of October 23, 2009.

Finlay Enterprises, Inc. (OTC Bulletin Board: FNLY) through its
wholly owned subsidiary, Finlay Fine Jewelry Corporation, is a
retailer of fine jewelry operating luxury stand-alone specialty
jewelry stores and licensed fine jewelry departments in department
stores throughout the United States and achieved sales of
$754.3 million in fiscal 2008.  The number of locations at the end
of the second quarter ended August 1, 2009, totaled 182, including
67 Bailey Banks & Biddle, 34 Carlyle and four Congress specialty
jewelry stores and 77 licensed departments with The Bon Ton.

The Company and seven affiliates filed for Chapter 11 on August 5,
2009 (Bankr. S.D.N.Y. Case No. 09-14873).  Weil, Gotshal & Manges
LLP, serves as bankruptcy counsel.  Alvarez & Marsal North
America, LLC, is engaged as restructuring advisor in the Chapter
11 case, and the firm's David Coles is appointed as chief
restructuring officer.  Epiq Bankruptcy Solutions, LLC, serves as
claims and notice agent.  Judge James Peck presides over the case.

In its bankruptcy petition, Finlay Enterprises disclosed assets of
$331,824,000 against debts of $385,476,000 as of July 4, 2009.  As
of the petition date, Finlay owes $38 million outstanding under a
first lien credit agreement, $24.7 million under second lien
notes, $176.6 million outstanding under third lien notes (in
addition to $17.5 million to secured vendors), and $40.6 million
under remaining unsecured obligations under the senior notes.

On September 25, 2009, the Bankruptcy Court appointed Gordon
Brothers Retail Partners, LLC, as agent for Finlay Enterprises and
its affiliates and subsidiaries to conduct "store closing" or
similar sales of merchandise located at all of the Company's
retail store locations and the Company's two distribution centers.
The transaction is expected to be completed by February 28, 2010.
Gordon Brothers bid 85.75 cents on the dollar for inventory valued
at an estimated $116 million for closings sales of 49 Finlay
stores.  Gordon had a prepetition contract to conduct store
closings sales for 55 other stores.


FINLAY ENTERPRISES: Wants to Sale of De Minimis Assets Approved
---------------------------------------------------------------
Finlay Enterprises, Inc., and its debtor-affiliates ask the U.S.
Bankruptcy Court for the Southern District of New York for
authority to sell de minimis assets free and clear of liens,
claims and encumbrances pursuant to Section 363 of the Bankruptcy
Code.

The Debtors determined that certain de minimis assets owned by the
Debtors that were used in their operations are no longer necessary
for their business as a result of its ongoing efforts to reduce
expenses during the wind-down of their business operations.

A hearing to consider the motion was set for Oct. 27, 2009, at
10:00 a.m. (Eastern Time) before the Hon. James M. Peck in One
Bowling Green, Room 610, New York City.  Objections, if any are
due Oct. 20, 2009 at 4:00 p.m. (prevailing Eastern Time).

Finlay Enterprises, Inc. (OTC Bulletin Board: FNLY) through its
wholly owned subsidiary, Finlay Fine Jewelry Corporation, is a
retailer of fine jewelry operating luxury stand-alone specialty
jewelry stores and licensed fine jewelry departments in department
stores throughout the United States and achieved sales of
$754.3 million in fiscal 2008.  The number of locations at the end
of the second quarter ended August 1, 2009, totaled 182, including
67 Bailey Banks & Biddle, 34 Carlyle and four Congress specialty
jewelry stores and 77 licensed departments with The Bon Ton.

The Company and seven affiliates filed for Chapter 11 on August 5,
2009 (Bankr. S. D. N.Y. Case No. 09-14873).  Weil, Gotshal &
Manges LLP, serves as bankruptcy counsel.  Alvarez & Marsal North
America, LLC, is engaged as restructuring advisor in the Chapter
11 case, and the firm's David Coles is appointed as chief
restructuring officer.  Epiq Bankruptcy Solutions, LLC, serves as
claims and notice agent.  Judge James Peck presides over the case.

In its bankruptcy petition, Finlay Enterprises disclosed assets of
$331,824,000 against debts of $385,476,000 as of July 4, 2009.  As
of the petition date, Finlay owes $38 million outstanding under a
first lien credit agreement, $24.7 million under second lien
notes, $176.6 million outstanding under third lien notes (in
addition to $17.5 million to secured vendors), and $40.6 million
under remaining unsecured obligations under the senior notes.

On September 25, 2009, the Bankruptcy Court appointed Gordon
Brothers Retail Partners, LLC, as agent for Finlay Enterprises and
its affiliates and subsidiaries to conduct "store closing" or
similar sales of merchandise located at all of the Company's
retail store locations and the Company's two distribution centers.
The transaction is expected to be completed by February 28, 2010.
Gordon Brothers bid 85.75 cents on the dollar for inventory valued
at an estimated $116 million for closings sales of 49 Finlay
stores.  Gordon had a prepetition contract to conduct store
closings sales for 55 other stores.


FIRST PRIORITY BANK: FDIC Orders Auction of FF&E
------------------------------------------------
Penny Worley Auctioneers announces the online auction of
furniture, fixtures and equipment from FDIC Receivership for First
Priority Bank and Freedom Bank in Bradenton, Fla., according to
Jerry Jenkins.

Items in this online bank auction include: computers, executive
office furniture, framed art, copier/printers, office equipment,
storage and shelving, and much more.

"This is a great opportunity to purchase computer and IT equipment
along with office furniture," said Jenkins. "All of these items
will sell to the highest bidders."

Jenkins said the items were ordered sold by the Federal Deposit
Insurance Corporation (FDIC) as receivership for First Priority
Bank and Freedom Bank. In 2008, Penny Worley Auctioneers was named
an official auctioneer for the FDIC.

The online auction is open to the public.  Bidding ends October
24. Bidders must register prior to bidding. For more information,
visit http://www.WorleyAuctioneers.com/or call Jerry Jenkins at
(513) 313-9178.

Penny Worley Auctioneers conducts auctions throughout the United
States, including over 100 auctions in 2008.  The company is a
member of the National Auctioneers Association, the Ohio
Auctioneers Association and the Certified Appraisers Guild of
America, National Association of Realtors & Ohio Association of
Realtors and Members of the Cincinnati and Dayton Home Builders
Association.

                     About First Priority Bank

First Priority Bank was closed July 31 by the Commissioner of the
Florida Office of Financial Regulation, and the Federal Deposit
Insurance Corporation was named receiver.  To protect the
depositors, the FDIC entered into a purchase and assumption
agreement with SunTrust Bank Inc. to assume the insured deposits
of First Priority.

As of June 30 2008, First Priority had total assets of $259
million and total deposits of $227 million.  At the time of
closing, there were approximately $13 million in uninsured
deposits held in approximately 840 accounts that potentially
exceeded the insurance limits.


FLINT TELECOM: L.L. Bradford Raises Going Concern Doubt
-------------------------------------------------------
L.L. Bradford & Company, LLC, in Las Vegas, Nevada, expressed
substantial doubt about Flint Telecom, Inc.'s ability to continue
as a going concern after auditing the Company's consolidated
financial statements for the years ended June 30, 2009, and 2008.
The auditing firm reported that the Company has suffered losses
from operations, negative cash flows from operations and current
liabilities exceed current assets.

Flint Telecom, Inc. reported a net loss of $14,562,263 for the
year ended June 30, 2009, compared with a net loss of $3,860,654
for the year ended June 30, 2008.

Revenues for the year ended June 30, 2009, increased 991% to
$34,337,063 as compared $3,146,286 for the year ended June 30,
2008.  The Company attributed this increase to the acquisition of
the six subsidiaries of China Voice Holding, Corp. (CHVC) that
closed in January 2009, and growth of the Company's wholesale call
traffic business.

The overall gross margin improved in the year ended June 30, 2009,
versus 2008, from a gross loss of $876,096 to a gross loss of
$658,629 on a higher revenue base.

Operating expenses increased 263% to $10,126,607 in the year ended
June 30, 2009 versus $2,661,818 for the last fiscal year.

The increase in net loss was a result of costs associated with the
reverse merger transaction with Semotus Solutions, Inc., the costs
of being a public company, the discontinuation of the Company's
operations at the New York location and the increase in costs
associated with managing the Company's growing business.

At June 30, 2009, the Company's consolidated balance sheet showed
$23,286,441 in total assets, $21,929,105 in total liabilities, and
$1,357,336 in total stockholders' equity.

The Company's consolidated balance sheet at June 30, 2009, also
showed strained liquidity with $8,026,018 in total current assets
available to pay $18,247,529 in total current liabilities.

Full-text copies of the Company's consolidated financial
statements for the year ended June 30, 2009, are available for fre
at http://researcharchives.com/t/s?4704

                            Liquidity

As of June 30, 2009, the Company had cash and cash equivalents of
$1,337,002, a decrease of $150,019 from the balance at June 30,
2008, which was $1,487,021.  The Company's working capital deficit
increased as of June 30, 2009, to $10,221,511 as compared to a
working capital deficit of $2,814,281 at June 30, 2008.  The
Company has not yet generated sufficient revenues to cover the
costs of continued product and service development and support,
sales and marketing efforts and general and administrative
expenses.

Flint had negative cash flow from operating activities of
$4,689,451 for the year ended June 30, 2009, compared with
negative cash flow from operating activities of $2,696,681 for the
year ended June 30, 2008.

Based in Boca Raton, Florida, Flint Telecom Group, Inc.
(OTC: FLTT) -- http://www.flinttel.com/-- is a telecommunications
technology and services company providing an extensive portfolio
of next generation fixed and wireless communication solutions to
customers and other telecom providers throughout the United
States.  The Company operates its business through eight wholly-
owned subsidiaries, CVC Int'l Inc., Cable and Voice Corporation,
StarCom Alliance Inc, Dial-Tone Communication Inc, Phone House of
Florida, Inc., Phone House, Inc., Wize Communications, Inc., and
Digital Phone Solutions, Inc.


FORD MOTOR: Bank Debt Trades at 11.35% Off in Secondary Market
--------------------------------------------------------------
Participations in a syndicated loan under which Ford Motor Co. is
a borrower traded in the secondary market at 88.65 cents-on-the-
dollar during the week ended Oct. 16, 2009, according to data
compiled by Loan Pricing Corp. and reported in The Wall Street
Journal.  This represents an increase of 0.49 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 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 Oct. 16, among the 158 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.


FOOTHILLS OF FERNLEY: Case Summary & 7 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Foothills of Fernley, LLC
        2698 Wind Feather Trail
        Reno, NV 89511

Case No.: 09-53614

Chapter 11 Petition Date: October 14, 2009

Court: United States Bankruptcy Court
       District of Nevada

Judge: Gregg W. Zive

Debtor's Counsel: Stephen R. Harris, Esq.
            Belding, Harris & Petroni, Ltd
            417 W Plumb Ln
            Reno, Nv 89509
            Tel: (775) 786-7600
            Fax: (775) 786-7764
            Email: steve@renolaw.biz

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

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

The petition was signed by Hugh Hempel, the company's manager.

Debtor's List of 7 Largest Unsecured Creditors:

  Entity                       Nature of Claim        Claim Amount
  ------                       ---------------        ------------
Tierra Development Group, LLC  Money Loaned           $650,000
2698 Wind Feather Trail
Reno, NV 89511

Hempel, Hugh                   Money Loaned           $151,000

Granite Crest, Inc.            Goods/Services         $151,000

Tierra Vista LLC               Money Loaned           $75,000

Jones-Vargas                   Goods/Services         $40,000

Consulting Services Assoc.     Goods/Services         $21,000

Walsh, Baker & Rosevear, PC    Goods/Servies          $2,000


FOUNTAIN POWERBOAT: Liberty Investments to be Majority Shareholder
------------------------------------------------------------------
Greg Katski at Washington Daily News reports that the U.S.
Bankruptcy Court for the Eastern District of North Carolina has
allowed Fountain Powerboat Industries Inc. to reorganize, with
Liberty Investments as majority shareholder.  According to the
Daily News, Liberty will help finance Fountain Powerboat's
reorganization and help the Company pay off its creditors.  Reggie
Fountain will be retained as Fountain Powerboat's president and
CEO.

Fountain Powerboats, Inc., a subsidiary of Fountain Powerboat
Industries, Inc., of Washington, North Carolina, has its executive
offices and manufacturing facilities along the Pamlico River in
Beaufort County, North Carolina.  The Company designs,
manufactures and sells offshore sport boats, sport fishing boats
and express cruisers that target the segment of the recreational
power boat market where speed, performance, safety and quality are
the main criteria for purchase.  These recreational boats are
based upon an innovative, award-winning design enabling world
class performance while using standard reliable power.  There are
currently 12 buildings located on 65 acres totaling over 237,000
square feet accommodating 40 to 45 boats in various stages of
construction at any one time.  The present plant site can also
accommodate up to 300,000 square feet of additional manufacturing
space.  The land and buildings are wholly owned by Fountain
Powerboat Industries, Inc., and its subsidiary, Fountain
Powerboats.

Fountain Powerboat Industries filed for Chapter 11 bankruptcy
protection on August 24, 2009 (Bankr. E.D. N.C. Case No. 09-
07132).  The Company's affiliates -- Fountain Powerboats, Inc.,
Fountain Dealers' Factory Superstore, Inc., and Baja by Fountain,
Inc., also filed for bankruptcy.  John A. Northen, Esq., and
Stephanie Osborne-Rodgers, Esq., at Northen Blue, LLP, assist
Fountain Powerboat in its restructuring efforts.  Fountain
Powerboat listed $3 in assets and $19,619,331 in liabilities.


FOX HILLS SPE: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: Fox Hills SPE, LLC
        333 Seventh Avenu, 3rd Floor
        New York, NY 10001

Bankruptcy Case No.: 09-16151

Chapter 11 Petition Date: October 14, 2009

Court: United States Bankruptcy Court
       Southern District of New York

Judge: Arthur J. Gonzalez

Debtor's Counsel: Joseph Corneau, Esq.
                  Klestadt & Winters, LLP
                  292 Madison Avenu, 17th Floor
                  New York, NY 10017
                  Tel: (212) 972-3000
                  Fax: (212) 972-2245
                  Email: jcorneau@klestadt.com

                  Tracy L. Klestadt, Esq.
                  Klestadt & Winters, LLP
                  292 Madison Avenu, 17th Floor
                  New York, NY 10017-6314
                  Tel: (212) 972-3000
                  Fax: (212) 972-2245
                  Email: tklestadt@klestadt.com

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

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

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

The petition was signed by Sara Pfrommer, C.R.O. & general counsel
of the Company.


FREEDOM BANK, BRADENTON: FDIC Orders Auction of FF&E
----------------------------------------------------
Penny Worley Auctioneers announces the online auction of
furniture, fixtures and equipment from FDIC Receivership for First
Priority Bank and Freedom Bank in Bradenton, Fla., according to
Jerry Jenkins.

Items in this online bank auction include: computers, executive
office furniture, framed art, copier/printers, office equipment,
storage and shelving, and much more.

"This is a great opportunity to purchase computer and IT equipment
along with office furniture," said Jenkins. "All of these items
will sell to the highest bidders."

Jenkins said the items were ordered sold by the Federal Deposit
Insurance Corporation (FDIC) as receivership for First Priority
Bank and Freedom Bank. In 2008, Penny Worley Auctioneers was named
an official auctioneer for the FDIC.

The online auction is open to the public.  Bidding ends October
24. Bidders must register prior to bidding. For more information,
visit http://www.WorleyAuctioneers.com/or call Jerry Jenkins at
(513) 313-9178.

Penny Worley Auctioneers conducts auctions throughout the United
States, including over 100 auctions in 2008. The company is a
member of the National Auctioneers Association, the Ohio
Auctioneers Association and the Certified Appraisers Guild of
America, National Association of Realtors & Ohio Association of
Realtors and Members of the Cincinnati and Dayton Home Builders
Association.

                        About Freedom Bank

As reported by the TCR, the State of Florida, Office of Financial
Regulation, on Oct. 31, 2008, closed Freedom Bank and named the
FDIC as receiver.  On November 10, 2008, the Federal Deposit
Insurance Corporation notified the OIG that FB's total assets at
closing were $276 million, and the estimated loss to the Deposit
Insurance Fund was $92 million.

As of Oct. 17, 2008, Freedom Bank had total assets of
$287 million and total deposits of $254 million.  Fifth Third
agreed to assume all the deposits for a premium of 1.16%.  In
addition to assuming the failed bank's deposits, Fifth Third will
purchase approximately $36 million of assets.  The FDIC will
retain the remaining assets for later disposition.


GARRETT-BECK CORPORATION: Voluntary Chapter 11 Case Summary
-----------------------------------------------------------
Debtor: Garrett-Beck Corporation
           dba Goose Creek Rehabilitation & Healthcare Center
           aka Garrett-Beck Corp.
           fdba Baytown Nursing Home
        1106 Park Street
        Baytown, TX 77520

Bankruptcy Case No.: 09-37774

Chapter 11 Petition Date: October 14, 2009

Court: United States Bankruptcy Court
       Southern District of Texas, Houston Division

Judge: Marvin Isgur

Debtor's Counsel: James B. Jameson, Esq.
                  Attorney at Law
                  3355 West Alabam, Suite 1160
                  Houston, TX 77098
                  Tel: (713) 807-1705
                  Fax: (713) 807-1710
                  Email: jbjameson@jamesonlaw.net

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 Barbara Garrett, president of the
Company.


GATEHOUSE MEDIA: Bank Debt Trades at 65% Off in Secondary Market
----------------------------------------------------------------
Participations in a syndicated loan under which GateHouse Media,
Inc., is a borrower traded in the secondary market at 35.00 cents-
on-the-dollar during the week ended Oct. 16, 2009, according to
data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents an increase of 2.06 percentage
points from the previous week, The Journal relates.  The loan
matures on Feb. 27, 2014.  The Company pays 200 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 Oct. 16, among the
158 loans with five or more bids.

GateHouse Media, Inc. -- http://www.gatehousemedia.com/--
headquartered in Fairport, New York, is one of the largest
publishers of locally based print and online media in the United
States as measured by its 97 daily publications.  GateHouse Media
currently serves local audiences of more than 10 million per week
across 21 states through hundreds of community publications and
local Web sites.


GATEWAY ETHANOL: Equipment Lease Not a Disguised Sale Transaction
-----------------------------------------------------------------
WestLaw reports that under Illinois law, the purchaser of a
Chapter 11 debtor's assets failed to establish that a prepetition
transaction whereby the debtor, the owner and operator of an
ethanol plant, acquired a thermal oxidizer boiler system from a
supplier was a disguised sale, and not a true lease, based upon
the Uniform Commercial Code's bright-line test.  Although the
debtor did not have an explicit right to terminate the lease
agreement during its five-year term, the asset purchaser failed to
show that the debtor had an option to become the owner of the
boiler for no or only nominal additional consideration upon
completion of the agreement.  At the end of the contract's term,
the debtor had an option to either return the boiler to the
supplier, with the debtor paying the cost of removal and shipment,
or to retain the boiler upon payment of a fixed option price of
$600,000.  The uncontradicted evidence showed that, at the time of
the agreement, the anticipated value of the boiler after five
years was $600,000.  The court also found that the transaction was
a true lease under the "all the facts and circumstances" test.
Finally, the court noted that the asset purchaser was not a party
to the lease and that it was the only party that would benefit
from a recharacterization of the transaction as a secured sale.
In re Gateway Ethanol, L.L.C., --- B.R. ----, 2009 WL 1616662
(Bankr. D. Kan.) (Somers, J.).

Pratt, Kansas-based Gateway Ethanol, LLC, unsuccessfully operated
an ethanol plant constructed to produce 55 million gallons a year.
The Company filed for bankruptcy protection on October 5, 2008
(Bankr. D. Kan. Case No. 08-22579).  Laurence M. Frazen, Esq.,
Megan J. Redmond, Esq., and Tammee E. McVey, Esq., at Bryan Cave,
LLP, represent the Debtor.  In its schedules, the Debtor listed
total assets of $94,545,022, and total debts of $93,353,654.
Gateway sold substantially all of its assets to Dougherty Funding
L.L.C. for $60 million in January 2009.


GENERAL GROWTH: Judge Grants Bankrupt Mall Group $57.5M in Bonuses
------------------------------------------------------------------
According to Law360, executives and employees of General Growth
Properties Inc. will divvy up potentially $57.5 million in bonuses
as part of two incentive plans crafted to align employees' goals
with the company's plan to emerge from Chapter 11 bankruptcy next
year.

Based in Chicago, Illinois, General Growth Properties, Inc. --
http://www.ggp.com/-- is the second-largest U.S. mall owner,
having ownership interest in, or management responsibility for,
more than 200 regional shopping malls in 44 states, as well as
ownership in master planned community developments and commercial
office buildings.  The Company's portfolio totals roughly ]
200 million square feet of retail space and includes more than
24,000 retail stores nationwide.  General Growth is a self-
administered and self-managed real estate investment trust.  The
Company's common stock is trading in the pink sheets under the
symbol GGWPQ.

General Growth Properties Inc. and its affiliates filed for
Chapter 11 on April 16, 2009 (Bankr. S.D.N.Y., Case No.
09-11977).  Marcia L. Goldstein, Esq., Gary T. Holtzer, Esq.,
Adam P. Strochak, Esq., and Stephen A. Youngman, Esq., at Weil,
Gotshal & Manges LLP, have been tapped as bankruptcy counsel.
Kirkland & Ellis LLP is co-counsel.  Kurtzman Carson Consultants
LLC has been engaged as claims agent.  The Company also hired
AlixPartners LLP as financial advisor and Miller Buckfire Co. LLC,
as investment bankers.  The Debtors disclosed
$29,557,330,000 in assets and $27,293,734,000 in debts as of
December 31, 2008.

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


GENERAL MOTORS: Asbestos Claimants Objection to Remy Plea Stays
---------------------------------------------------------------
Remy International, Inc., formerly known as DRA Inc., has asked
the U.S. Bankruptcy Court for the Southern District of New York to
extend the automatic stay to prevent the prosecution of claims in
various courts around the United States that seek monetary damage
from Remy for personal injuries or wrongful death based on
exposure to General Motors Corporation's manufactured products or
GM-owned plants or facilities.

The Ad Hoc Committee of Asbestos Personal Injury Claimants ask the
U.S. Bankruptcy Court for the Southern District of New York to
deny Remy International's Motion to Extend the GM Stay.  Further,
the Ad Hoc Committee asked the Court for leave for the Asbestos
Plaintiffs to prosecute their claims

The Ad Hoc Committee's objection is joined in by the various
individuals with mesothelioma or other cancer caused by exposure
to asbestos.  These individuals are represented by the law firm
Simmons Browder Gianaris Angelides & Barnerd LLC.

Remy International asked the Bankruptcy Court to strike the Ad Hoc
Committee's Objection to the Motion to Extend for the reason that
the Ad Hoc Committee's Objection was filed only after the
October 1, 2009 Objection Deadline.

After due consideration of Remy International's motion to extend
the stay and its motion to strike the Objection of the Ad Hoc
Committee of Asbestos Personal Injury Claimants to Remy's Motion,
Judge Gerber determined that Remy's Stay Motion and its Motion to
Strike are both inappropriate.  Accordingly, Judge Gerber denied
the Motions.

                   Remy International's Request

Remy International asks the Bankruptcy Court to extend the
automatic stay to prevent the prosecution of claims in various
courts around the United States that seek monetary damage from
Remy for personal injuries or wrongful death based on exposure to
General Motors Corporation's manufactured products or GM-owned
plants or facilities.

If the Bankruptcy Court is not inclined to extend GM's automatic
stay to Remy, Remy seeks a preliminary injunction preventing
further prosecution of the PI cases as against Remy in order to
avoid prejudice to GM's estate, and seek that the injunction
become permanent at the time of approval of a plan of
reorganization in GM's bankruptcy cases.

Remy has been named in several lawsuits for the sole reason that
it purchased the assets, including the name, of the Delco Remy
division of GM, N. Kathleen Strickland, Esq., at Ropers, Majeski,
Kohn & Bentley, in San Francisco, California, tells the Bankruptcy
Court.

The plaintiffs in those lawsuits have sued both GM and Remy.  Ms.
Strickland says in each of those lawsuits, GM has agreed to defend
and indemnify Remy since the lawsuits are based on GM manufactured
products or GM owned premises.  In other words, any liability of
Remy could only be derivative of GM and GM products or premises,
she explains.  Hence, since those lawsuits are now stayed as to GM
pursuant to the automatic stay of the bankruptcy court, Remy only
seeks to have that same stay extend to Remy since GM has been
defending Remy in these cases due to GM's contractual obligations
to Remy under an Asset Purchase Agreement by and among DR
International, Inc., DRA, Inc., and General Motors Corporation
dated July 13, 1994, Ms. Strickland states.

According to Ms. Strickland, pursuant to the Agreement, GM
retained certain liabilities relating to the assets being sold
under that agreement.  Among the "Retained Liabilities" are:

  (i) any liability or obligation of GM existing as a result of
      any act, failure to act or other state of facts or
      occurrence which constitutes a breach or violation of any
      of GM's representations, warranties, covenants or
      agreements contained in this Agreement;

(ii) any product liability claim of any nature in respect
      of products of the Businesses [GM] manufactured on or
      prior to the Closing Date;

(iii) any obligation or liability arising under any Contract,
      instrument or agreement that (a) is not transferred to
      Purchaser as part of the Purchased Assets; and

(iv) liabilities in connection with any matter as to which GM
      has responsibility or liability under Article VIII
      [entitled 'Environmental Matters'].

In conjunction with GM's retention of the "Retained Liabilities,"
in the Agreement, GM agreed to indemnify and hold Remy harmless
from any damages relating to the Retained Liabilities, Ms.
Strickland points out.

Ms. Strickland says on July 16, 2009, GM, by way of the e-mail
from Maynard Timm, a staff of GM, informed Remy that it did not
intend to continue to honor the Agreement.

With respect to GM's intention to not continue to honor the
Agreement, MS. Strickland asserts that when certain "unusual
circumstances" exist, the automatic stay may apply to actions
against non-debtors "whose interest are so intimately intertwined
with those of the debtor that the latter may be said to be the
real party in interest," for all practical purposes, GM is Remy in
these cases because these were GM products or GM facilities.

Ms. Strickland further asserts that it is only just that the stay
be extended as to Remy because by accepting the tender GM has
admitted that it is responsible for those cases, not Remy.
Certainly, where it can be said that debtor and the non-bankrupt
party can be considered one entity or as having a unitary
interest, a Section 362(a)(1) of the Bankruptcy Code stay may
suspend the action against a non-bankrupt party, Ms. Strickland
argues.

Furthermore, Ms. Strickland contends that Remy is entitled to a
preliminary injunction enjoining the GM Cases as against Remy.  A
finding against Remy in the cases may serve as a finding against
GM, even though GM is no longer a party to those cases, and the
finding could trigger additional claims by third parties against
GM's Estate, she points out.  Moreover, a finding against Remy
would trigger an indemnification claim by Remy against GM's Estate
pursuant to the APA, and would also trigger a claim by Remy
against any of GM's applicable insurance policies, thus both
causing Remy to file an amended, or increased, claim against GM's
Estate, also in order to enforce the Agreement.

                       About General Motors

Headquartered in Detroit, Michigan, General Motors Corp.
(NYSE: GM) -- http://www.gm.com/-- as founded in 1908.  GM
employs about 266,000 people around the world and manufactures
cars and trucks in 35 countries.  In 2007, nearly 9.37 million GM
cars and trucks were sold globally under the following brands:
Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, HUMMER, Opel,
Pontiac, Saab, Saturn, Vauxhall and Wuling.  GM's OnStar
subsidiary is the industry leader in vehicle safety, security and
information services.

GM Europe is based in Zurich, Switzerland, while General Motors
Latin America, Africa and Middle East is headquartered in Miramar,
Florida.

As reported by the Troubled Company Reporter, GM reported net loss
of US$6.0 billion, including special items, in the first quarter
of 2009.  This compares with a reported net loss of US$3.3 billion
in the year-ago quarter.  As of March 31, 2009, GM had
US$82.2 billion in total assets and US$172.8 billion in total
liabilities, resulting in US$90.5 billion in stockholders'
deficit.

General Motors Corporation and three of its affiliates filed for
Chapter 11 protection on June 1, 2009 (Bankr. S.D.N.Y. Lead Case
No. 09-50026).  General Motors changed its name to Motors
Liquidation Co. following the sale of its key assets to a company
60.8% owned by the U.S. Government.

The Honorable Robert E. Gerber presides over the Chapter 11 cases.
Harvey R. Miller, Esq., Stephen Karotkin, Esq., and Joseph H.
Smolinsky, Esq., at Weil, Gotshal & Manges LLP, assist the Debtors
in their restructuring efforts.  Al Koch at AP Services, LLC, an
affiliate of AlixPartners, LLP, serves as the Chief Executive
Officer for Motors Liquidation Company.  GM is also represented by
Jenner & Block LLP and Honigman Miller Schwartz and Cohn LLP as
counsel.  Cravath, Swaine, & Moore LLP is providing legal advice
to the GM Board of Directors.  GM's financial advisors are Morgan
Stanley, Evercore Partners and the Blackstone Group LLP.

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


GENERAL MOTORS: Detroit Diesel Fails to Win Stay From Suits
-----------------------------------------------------------
Detroit Diesel Corporation failed to obtain approval from the
U.S. Bankruptcy Court for the Southern District of New York of its
motion to extend and enforce the automatic stay to prevent the
prosecution of claims in various courts around the United States,
or elsewhere, wherein the plaintiffs seek monetary damages from DD
for personal injuries and wrongful death for asbestos-related
diseases based on exposure to asbestos-containing components
incorporated into products manufactured, sold, and distributed by
DD's predecessors.

In the alternative, to the extent the Bankruptcy Court does not
find an extension of the automatic stay appropriate in the
present, DD seeks a commensurate preliminary injunction preventing
further prosecution of the asbestos cases as against DD to avoid
prejudice to the Debtors' estate.

Bankruptcy Judge Roberg Gerber denied Detroit Diesel's Motion
after holding that the motion is inappropriate.

In the Motion to Enforce the Stay, Michael T. Conway, Esq., at
LeClair Ryan, a Professional Corporation, in New York, relates
that there are approximately 65 civil lawsuits pending in the
state courts of 12 different states. At least eight of those
lawsuits are scheduled for start of trial in the next six months.
He says in each of the Asbestos Cases, DD is sued for the sole
reason that it was once a division of the Debtors' and as a
conduit for liability, which, if it exists at all, would exist
with the Debtors, and not with DD, which has not manufactured,
sold, or distributed products with asbestos-
containing components.

Detroit Diesel was founded in 1938 as the Detroit Diesel Division
of General Motors Corporation.  In 1988, GM sold certain assets of
the Detroit Diesel Division to DD, a joint venture between GM and
Penske Corporation.  As part of a "sales agreement" between GM and
DD, Mr. Conway says, GM agreed to assume all liabilities and to
indemnify and hold harmless Detroit Diesel and its successors for
any products manufactured, distributed or sold prior to January 1,
1988, by GM's Detroit Diesel Division.

Parties, however, objected to Detroit Diesel's request.

The surviving spouse of Leon Roland Pichon, Jeanette Garnett
Pichon, and children Roland L. Pichon, Mark P. Pichon, Patrice
Pichon Robinson, Tracy Pichon Baham, Veronica Pichon Joseph, and
Cade Pichon Hagger asked the Bankruptcy Court to dismiss Detroit
Diesel's proposal.

Gerolyn P. Roussel, Esq., at Roussel & Clement, in LaPlace,
Louisiana, relates that Leon Roland Pichon was an employee at
Halter Marine, Inc., from 1995 through 1994 where he was exposed
to asbestos from DDC's asbestos on a daily basis.  His injury and
death resulted from exposure to asbestos in the State of
Louisiana.  The Pichons have sued for redress of this injury in
the Civil District Court for the Parish of Orleans, Louisiana.

In addition, the Ad Hoc Committee of Asbestos Personal Injury
objected, contending that Detroit Diesel fails to establish any
basis for its request, in order to enjoin 65 state court asbestos
personal injury suits pending against Detroit Diesel which is a
non-debtor.

The Asbestos Claimants Committee noted that in the rare instances
where courts have used their equitable powers to extend the
protections of the automatic stay to enjoin actions against non-
debtors, they have done so only in "unusual circumstances" or
where the actions to be stayed would have an immediate adverse
effect on the debtor's reorganization efforts, the Ad Hoc
Committee argues.

Detroit Diesel provides no credible evidence showing unusual
circumstances or how the continuation of the Asbestos Actions
could have the requisite immediate adverse effect on the
liquidating Debtors or the Debtors' estate that would warrant an
extension of the stay, the Ad Hoc Committee complains.

                       About General Motors

Headquartered in Detroit, Michigan, General Motors Corp.
(NYSE: GM) -- http://www.gm.com/-- as founded in 1908.  GM
employs about 266,000 people around the world and manufactures
cars and trucks in 35 countries.  In 2007, nearly 9.37 million GM
cars and trucks were sold globally under the following brands:
Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, HUMMER, Opel,
Pontiac, Saab, Saturn, Vauxhall and Wuling.  GM's OnStar
subsidiary is the industry leader in vehicle safety, security and
information services.

GM Europe is based in Zurich, Switzerland, while General Motors
Latin America, Africa and Middle East is headquartered in Miramar,
Florida.

As reported by the Troubled Company Reporter, GM reported net loss
of US$6.0 billion, including special items, in the first quarter
of 2009.  This compares with a reported net loss of US$3.3 billion
in the year-ago quarter.  As of March 31, 2009, GM had
US$82.2 billion in total assets and US$172.8 billion in total
liabilities, resulting in US$90.5 billion in stockholders'
deficit.

General Motors Corporation and three of its affiliates filed for
Chapter 11 protection on June 1, 2009 (Bankr. S.D.N.Y. Lead Case
No. 09-50026).  General Motors changed its name to Motors
Liquidation Co. following the sale of its key assets to a company
60.8% owned by the U.S. Government.

The Honorable Robert E. Gerber presides over the Chapter 11 cases.
Harvey R. Miller, Esq., Stephen Karotkin, Esq., and Joseph H.
Smolinsky, Esq., at Weil, Gotshal & Manges LLP, assist the Debtors
in their restructuring efforts.  Al Koch at AP Services, LLC, an
affiliate of AlixPartners, LLP, serves as the Chief Executive
Officer for Motors Liquidation Company.  GM is also represented by
Jenner & Block LLP and Honigman Miller Schwartz and Cohn LLP as
counsel.  Cravath, Swaine, & Moore LLP is providing legal advice
to the GM Board of Directors.  GM's financial advisors are Morgan
Stanley, Evercore Partners and the Blackstone Group LLP.

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


GENERAL MOTORS: Reynolds Want Lift Stay to Enforce Judgment
-----------------------------------------------------------
Bonnie J. Reynolds and Garland Reynolds Jr., individually and as
Administrator of the estate of Matthew John Reynolds, ask the U.S.
Bankruptcy Court for the Southern District of New York to lift the
stay to allow the Eleventh Circuit Court to:

* enforce judgment on Motors Liquidation Co.'s appeal to the
   U.S. Court of Appeals for the Eleventh Circuit, on the
   $3.5 million verdict entered by the United States District
   Court for the Northern District of Georgia in a product
   Liability case involving the wrongful death and catastrophic
   injury of Matthew Reynolds; and

* permit the Reynolds to enforce that Judgment against
   Travelers Casualty and Surety Company as surety on the
   $4.5 million supersedeas bond the Debtors filed in the District
   Court, if the Eleventh Circuit affirms the Judgment appealed
   from.

On June 3, 2002, 14-year old Matthew Reynolds suffered fatal head
injuries when he was ejected from a 1995 Chevrolet Blazer driven
by his mother, as the vehicle rolled over after being struck by
another vehicle.  On June 2, 2004, Matthew's parents, Garland
Reynolds, Jr. and Bonnie J. Reynolds, filed suit in the District
Court against GM, the manufacturer of the Blazer.

After trial, the District Court entered judgment on a jury
verdict, in the amount of approximately $3.5 million.  The Debtors
appealed that Judgment and posted a $4.5 million supersedeas bond
in the trial court.  The parties fully briefed the appeal
prepetition but the United States Court of Appeals for the
Eleventh Circuit stayed issuing its decision on the appeal based
on the automatic stay under Section 362 of the Bankruptcy Code.

The Bankruptcy Court will convene a hearing to consider the lift
stay motion on November 6, 2009, at 9:45 a.m.  Objections will be
due by November 3.

                       About General Motors

Headquartered in Detroit, Michigan, General Motors Corp.
(NYSE: GM) -- http://www.gm.com/-- as founded in 1908.  GM
employs about 266,000 people around the world and manufactures
cars and trucks in 35 countries.  In 2007, nearly 9.37 million GM
cars and trucks were sold globally under the following brands:
Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, HUMMER, Opel,
Pontiac, Saab, Saturn, Vauxhall and Wuling.  GM's OnStar
subsidiary is the industry leader in vehicle safety, security and
information services.

GM Europe is based in Zurich, Switzerland, while General Motors
Latin America, Africa and Middle East is headquartered in Miramar,
Florida.

As reported by the Troubled Company Reporter, GM reported net loss
of US$6.0 billion, including special items, in the first quarter
of 2009.  This compares with a reported net loss of US$3.3 billion
in the year-ago quarter.  As of March 31, 2009, GM had
US$82.2 billion in total assets and US$172.8 billion in total
liabilities, resulting in US$90.5 billion in stockholders'
deficit.

General Motors Corporation and three of its affiliates filed for
Chapter 11 protection on June 1, 2009 (Bankr. S.D.N.Y. Lead Case
No. 09-50026).  General Motors changed its name to Motors
Liquidation Co. following the sale of its key assets to a company
60.8% owned by the U.S. Government.

The Honorable Robert E. Gerber presides over the Chapter 11 cases.
Harvey R. Miller, Esq., Stephen Karotkin, Esq., and Joseph H.
Smolinsky, Esq., at Weil, Gotshal & Manges LLP, assist the Debtors
in their restructuring efforts.  Al Koch at AP Services, LLC, an
affiliate of AlixPartners, LLP, serves as the Chief Executive
Officer for Motors Liquidation Company.  GM is also represented by
Jenner & Block LLP and Honigman Miller Schwartz and Cohn LLP as
counsel.  Cravath, Swaine, & Moore LLP is providing legal advice
to the GM Board of Directors.  GM's financial advisors are Morgan
Stanley, Evercore Partners and the Blackstone Group LLP.

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


GENERAL MOTORS: Should Reconsider Opel Bids, EU Says
----------------------------------------------------
General Motors Co. should be allowed to reconsider all bids for
its Adam Opel GmbH unit after German aid policies pushed the U.S.
carmaker to choose Magna International Inc. as the buyer, the
European Union said, according to Bloomberg News.  Guttenberg said
today that Germany will work to assuage EU concerns and that the
sale is likely to proceed.  Germany Chancellor Angela Merkel's
government chose Magna, Canada's biggest auto- parts maker, and
Russian partner OAO Sberbank as Opel's preferred bidder in May,
saying they wanted to preserve jobs.

Germany's offer of EUR4.5 billion (US$6.9 billion) in state loans
and guarantees for Opel's sale must be available to all suitors to
meet antitrust rules, the EU said in a statement outlining a
letter that European Competition Commissioner Neelie Kroes sent to
Economy Minister Karl Theodor zu Guttenberg, according to
Bloomberg.  Authorities should inform GM and the trust that owns
Opel that the aid is available to any buyer, the EU said,
according to the report.

Under the deal, which was reached on September 10, 2009, Magna and
Savings Bank of the Russian Federation will purchase a 55% stake
in New Opel; GM will hold a 35% stake; and employees will be
provided a 10% stake.

Spain's industry minister had criticized the Opel Sale, urging
European Union commissioners to examine "whether the deal unfairly
spares Opel's German operations from job cuts and possible plant
closures that are planned."

Opel's reorganization -- in light of the sale of GM's majority
stake in the Company to Magna and OAO Sberbank -- is said to
result to as many as 10,900 job cuts in Europe.  Magna had
revealed in its proposal in July 2009, that it would eliminate
1,672 jobs, or 23% of the workforce at Opel's Spanish plant,
Bloomberg reported.

GM has also said that Opel's plant in Antwerp, Belgium, could be
wound down and that some production in Spain could be moved to
Germany.

Unite, a trade union at Opel's Vauxhall division in the U.K., also
said it opposes Magna's plans for failing to outline investments
for its two factories in the English towns of Luton and Ellesmere
Port.  In addition, Unite argues the Magna's proposal to shut
Opel's pension plan, Bloomberg added.

                        About General Motors

Headquartered in Detroit, Michigan, General Motors Corp.
(NYSE: GM) -- http://www.gm.com/-- as founded in 1908.  GM
employs about 266,000 people around the world and manufactures
cars and trucks in 35 countries.  In 2007, nearly 9.37 million GM
cars and trucks were sold globally under the following brands:
Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, HUMMER, Opel,
Pontiac, Saab, Saturn, Vauxhall and Wuling.  GM's OnStar
subsidiary is the industry leader in vehicle safety, security and
information services.

GM Europe is based in Zurich, Switzerland, while General Motors
Latin America, Africa and Middle East is headquartered in Miramar,
Florida.

As reported by the Troubled Company Reporter, GM reported net loss
of US$6.0 billion, including special items, in the first quarter
of 2009.  This compares with a reported net loss of US$3.3 billion
in the year-ago quarter.  As of March 31, 2009, GM had
US$82.2 billion in total assets and US$172.8 billion in total
liabilities, resulting in US$90.5 billion in stockholders'
deficit.

General Motors Corporation and three of its affiliates filed for
Chapter 11 protection on June 1, 2009 (Bankr. S.D.N.Y. Lead Case
No. 09-50026).  General Motors changed its name to Motors
Liquidation Co. following the sale of its key assets to a company
60.8% owned by the U.S. Government.

The Honorable Robert E. Gerber presides over the Chapter 11 cases.
Harvey R. Miller, Esq., Stephen Karotkin, Esq., and Joseph H.
Smolinsky, Esq., at Weil, Gotshal & Manges LLP, assist the Debtors
in their restructuring efforts.  Al Koch at AP Services, LLC, an
affiliate of AlixPartners, LLP, serves as the Chief Executive
Officer for Motors Liquidation Company.  GM is also represented by
Jenner & Block LLP and Honigman Miller Schwartz and Cohn LLP as
counsel.  Cravath, Swaine, & Moore LLP is providing legal advice
to the GM Board of Directors.  GM's financial advisors are Morgan
Stanley, Evercore Partners and the Blackstone Group LLP.

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


GEORGIA GULF: Bank Debt Trades at 0.57% Off in Secondary Market
---------------------------------------------------------------
Participations in a syndicated loan under which Georgia Gulf
Corporation is a borrower traded in the secondary market at 99.43
cents-on-the-dollar during the week ended Oct. 16, 2009, according
to data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents an increase of 0.45 percentage
points from the previous week, The Journal relates.  The loan
matures on Oct. 3, 2013.  The Company pays 650 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 Oct. 16, among the 158 loans
with five or more bids.

Georgia Gulf Corporation is a manufacturer and international
marketer of two integrated chemical product lines, chlorovinyls
and aromatics.  The Company's primary chlorovinyls products are
chlorine, caustic soda, vinyl chloride monomer (VCM), vinyl resins
and vinyl compounds.  Its aromatics products are cumene, phenol
and acetone.  The Company has four business segments:
chlorovinyls; window and door profiles, and moldings products;
outdoor building products, and aromatics.

At March 31, 2009, the Company had $1.56 billion in total assets
and $1.66 billion in total liabilities, resulting in $97.3 million
stockholders' deficit.

As reported in the Troubled Company Reporter on June 19, 2009,
Standard & Poor's Ratings Services lowered its issue rating on
Georgia Gulf Corp.'s $100 million 7.125% senior notes due 2013 to
'D' from 'C' and retained the '6' recovery rating, indicating
S&P's expectation of negligible recovery (0%-10%) on the notes.
At the same time, S&P kept its corporate credit rating on Georgia
Gulf at 'D'.  S&P had lowered its corporate credit rating and
these issue ratings on Georgia Gulf to 'D' on May 21, 2009,
following a missed interest payment of $34.5 million on these
notes.

As reported by the TCR on Aug. 3, Moody's Investors Service
upgraded the Corporate Family Rating of Georgia Gulf Corporation
to B2 from Caa2 as a result of the completion of the private debt-
for-equity exchange offer and an amendment to its credit facility
that substantially improves the company's liquidity.


GREENSHIFT CORP: Restates Second Quarter 2009 Financial Statements
------------------------------------------------------------------
GreenShift Corporation has filed Amendment No. 1 on Form 10-Q/A,
which amends and restates the Company's financial statements which
were filed by the Company with the Securities and Exchange
Commission on August 20, 2009.

The Company restated its financial statements for the six months
ended June 30, 2009, and 2008, to reflect the disposition of one
of its subsidiaries ("Culbertson"), to a company under common
control (Carbonics Capital Corporation).  The financial results of
Culbertson have been omitted from the Company's results of
operations for the six months ended June 30, 2009, and the
December 31, 2008 balance sheet and statement of stockholder's
equity have been restated as well.  The change due to the
disposition of Culbertson resulted in an increase of  additional
paid in capital of $2,783,484 as well as a decrease of retained
earnings of $3,539,639.

GreenShift Corporation reported net income of $8,352,579 on
revenue of $1,177,026 for the three months ended June 30, 2009,
compared with a net loss of $2,297,984 on revenue of $5,961,775 in
the corresponding period last year.  Results for the three months
ended June 30, 2009, include a gain on sale of discontinued
operations of $14,452,069.  The Company divested its 10 million
gallon per year biodiesel facility in Adrian, Michigan and oilseed
crush facility in Culbertson, Montana during the second quarter of
2009.

Revenues in 2009 decreased due to the fact that the Company's
biodiesel refinery and equipment manufacturing operations were
shut down due to the unavailability of the working capital
resources these operations require.

For the six months ended June 30, 2009, the Company reported a
net loss of $4,031,399 on revenue of $2,032,684, compared with a
net loss of $5,808,198 on revenue of $8,857,574 in the same period
of 2008.

At June 30, 2009, the Company's amended and restated balance sheet
showed $20,799,615 in total assets and $73,813,042 in total
liabilities, resulting in a $53,013,427 stockholders' deficit.

The Company's amended and restated balance sheet at June 30, 2009,
also showed strained liquidity with $1,465,682 in total current
assets available to pay $64,763,477 in total current liabilities.

Full-text copies of the Company's amended and restated financial
statements for the three months ended June 30, 2009, are available
for free at http://researcharchives.com/t/s?46fe

For the three months ended March 31, 2009, the Company reported a
net loss of $12,383,978 on revenue of $855,658, compared with a
net loss of $3,510,214 on revenue of $2,895,799 in the same period
of 2008.

Full-text copies of the Company's amended and restated financial
statements for the three months ended March 31, 2009, are
available for free at http://researcharchives.com/t/s?46ff

For the fiscal year ended December 31, 2008, the Company
reported a net loss of $47,975,579 on revenue of $23,616,662,
compared with a net loss of 24,671,845 on revenue of $14,680,387
for the fiscal year ended December 31, 2007.

Full-text copies of the Company's amended and restated financial
statements for the fiscal year ended December 31, 2008, are
available for free at http://researcharchives.com/t/s?4700

                        Going Concern Doubt

Rosenberg Rich Baker Berman & Company, in Bridgewater, New Jersey,
expressed substantial doubt about GreenShift Corporation's ability
to continue as a going concern after auditing the Company and its
subsidiaries' financial statements for the years ended
December 31, 2008. and 2007.  The auditing firm pointed to the
Company's recurring losses from operations and working capital
deficit.

The Company had a working capital deficit of $63,297,795 at
June 30, 2009.

                   About GreenShift Corporation

Based in New York, GreenShift Corporation develops and
commercializes clean technologies designed to integrate into and
leverage established production and distribution infrastructure to
address the financial and environmental needs of its clients by
decreasing raw material needs, facilitating co-product reuse, and
reducing waste and emissions.

The Company currently owns four corn oil extraction facilities
that are located in Oshkosh, Wisconsin, Medina, New York, Marion,
Indiana, and Riga, Michigan.

During the six months ended June 30, 2009, the Company also owned
a 10 million gallon per year biodiesel facility in Adrian,
Michigan and an oilseed crush facility in Culbertson, Montana.
These two facilities were idled during the first quarter 2009 due
to a lack of working  capital.  The Company divested both of these
facilities during the second quarter of 2009.  The Company's
specialty equipment manufacturing operations were also idled
during the six months ended June 30, 2009.


GSC INVESTMENT: Adverse Credit Events in Portfolio to Continue
--------------------------------------------------------------
GSC Investment Corp. reported financial results for the fiscal
second quarter ended August 31, 2009.

                         Operating Results

For the quarter ended August 31, 2009, GSC Investment Corp.
reported net investment income of $1.1 million, or $0.13 per
share, and net loss on investments of $17.2 million, or $2.07 per
share, resulting in a net decrease in net assets from operations
of $16.2 million, or $1.94 per share.  $16.1 million of the net
loss was due to unrealized depreciation.  Net asset value was
$6.91 per share as of August 31, 2009 as compared to $8.85 per
share as of May 31, 2009.

"The unrealized depreciation in our portfolio during the second
quarter primarily reflects the combination of adverse credit
events with several of our corporate debt investments and changes
in our modeling assumptions regarding default, recovery and
prepayment rates for our CLO investment," said Chief Executive
Officer Seth M. Katzenstein.  "While recent signs of stabilization
in the credit markets are encouraging, corporate deficits
accumulated during the recent recession continue to stress our
investments.  As a result, we expect that adverse credit events in
our portfolio will continue."

                 Portfolio and Investment Activity

As of August 31, 2009, the value of the Company's investment
portfolio was $100.0 million, principally invested in 33 portfolio
companies and one collateralized loan obligation fund.  The
overall portfolio composition consisted of 17.4% first lien term
loans, 34.3% second lien term loans, 27.1% senior secured notes,
7.7% unsecured notes, 13.3% subordinated notes of GSCIC CLO and
0.2% equity/limited partnership interests.

During the second quarter, GSC Investment Corp. made no
investments in new or existing portfolio companies.  For the
quarter, the Company had $4.6 million in aggregate amount of exits
and repayments, resulting in net repayments of $4.6 million.

As of August 31, 2009, the weighted average current yield on the
Company's first lien term loans, second lien term loans, senior
secured notes, unsecured notes and the GSCIC CLO subordinated
notes were 7.4%, 9.5%, 11.6%, 12.3% and 0.1%, respectively, which
resulted in an aggregate weighted average current yield of 8.2%.

As of August 31, 2009, 42.7%, or $37.0 million, of the Company's
interest-bearing portfolio was fixed rate debt with a weighted
average current coupon of 11.7% and 57.3%, or $49.7 million, of
its interest-bearing portfolio was floating rate debt with a
weighted average current spread of LIBOR plus 6.8%.

                  Liquidity and Capital Resources

At August 31, 2009, the Company had $49.6 million in borrowings
under its credit facility and an asset coverage ratio of 216%.

On July 30, 2009, an ongoing borrowing base deficiency in the
Company's credit facility became an event of default.  Adverse
credit conditions affecting the Company's portfolio investments
have continued throughout the second quarter and have resulted in
a $14.5 million deficiency in the Company's August 31, 2009
borrowing base, which exceeds the Company's unrestricted cash and
cash equivalents of $6.6 million at August 31, 2009.  During the
continuance of an event of default, the lender has the ability to
terminate the facility and sell the underlying collateral
necessary to satisfy outstanding borrowings.  The Company and its
lender continue to discuss possible solutions to the event of
default and the lender has elected not to accelerate the
obligation to date, but has reserved the right to do so.

"The adverse economic environment that persists in the marketplace
continues to have a negative effect on several of our portfolio
companies.  Some portfolio companies have experienced worse than
expected declines in operating performance, while others have been
unable to refinance maturing debt," said Mr. Katzenstein.  "We
believe that the best way to maximize the value of underperforming
and stressed investments is to actively manage them through the
workout process leveraging the experience of our investment
adviser GSC Group and the common ownership of other GSC Group-
managed funds."

The Company continues to work with the investment banking firm of
Stifel Nicolaus & Company as it actively evaluates strategic
alternatives to maximize long-term shareholder value.

                             Dividend

The Company's Board of Directors has decided not to declare a
dividend for the second quarter of fiscal year 2010.

                    About GSC Investment Corp.

GSC Investment Corp. is a specialty finance company that invests
primarily in leveraged loans and mezzanine debt issued by U.S.
middle-market companies, high yield bonds and collateralized loan
obligations.  It has elected to be treated as a business
development company under the Investment Company Act of 1940.  The
Company may also opportunistically invest in distressed debt, debt
issued by non-middle market companies, and equity securities
issued by middle and non-middle market companies.  The Company
draws upon the support and investment advice of its external
manager, GSC Group, an alternative asset investment manager that
focuses on complex, credit-driven strategies.  GSC Investment
Corp. is traded on the New York Stock Exchange under the symbol
"GNV."


HARVEST OIL: Can Access Lenders Cash Collateral until November 13
-----------------------------------------------------------------
The Hon. Robert Summerhays of the U.S. Bankruptcy Court for the
Western District of Louisiana authorized, on an interim basis,
Harvest Oil & Gas, LLC, and its debtor-affiliates' to access cash
collateral of Wayzata Investments Partners, LLC, as agent for
certain lenders, and Macquarie Bank Limited and its affiliates to
meet payroll, ongoing operational expenses and other business
costs and expenses in accordance with a budget.

The Debtors are authorized to use the cash collateral from
Oct. 3, 2009, through Nov. 13, 2009.  This is the Court's eighth
interim cash collateral order.

As reported in the Troubled Company Reporter on July 29, 2009, the
Debtors will not pay wages or salary to any party who is not
working for the Debtors.

The prepetition lenders will retain their security interests and
liens on the cash collateral to the fullest extent and relative
priority as set forth in their respective prepetition security
agreements.

As partial adequate protection for any use or diminution in the
value of their collateral, the prepetition lenders are granted
security interests and liens in all of the property and assets of
the Debtors' estates, as may be acquired postpetition, including
all cash collateral in the DIP Account.

                   About Harvest Oil and Gas, LLC

Headquartered in Covington, Louisiana, Harvest Oil and Gas, LLC --
http://www.harvest-oil.com/-- is engaged on acquisition,
development and exploration of energy resources.  The Debtor and
its debtor-affiliates filed for Chapter 11 protection on March 31,
2009 (Bankr. W.D. La. Lead Case No. 09-50397).  Robin B.
Cheatham, Esq., at Adams & Reese LLP, represents the Debtors in
their restructuring efforts.  The Debtors listed between
$100 million and $500 million each in assets and debts.


HARRAH'S ENTERTAINMENT: HOC Funds $1 Bil. Incremental Term Loans
----------------------------------------------------------------
Harrah's Operating Company, Inc., a wholly owned subsidiary of
Harrah's Entertainment, Inc., on October 15, 2009, funded
incremental term loans under its senior secured credit facilities
in the aggregate amount of $1 billion in the form of new Term B-4
Loans pursuant to the incremental facility amendment to the credit
agreement dated as of September 26, 2009.

Harrah's Operating entered into an amendment to its senior secured
credit facilities to allow for $1 billion of incremental term
loans.

Harrah's Operating intends to use the proceeds of the incremental
term loans to refinance or retire existing debt and to provide
additional liquidity.

A full-text copy of the Incremental Facility Amendment to Credit
Agreement with Bank of America, N.A., as administrative agent
and collateral agent, is available at no charge at:

                http://ResearchArchives.com/t/s?45df

Banc of America Securities LLC and Citigroup Global Markets Inc.
act as the joint lead arrangers; BAS, CGMI, Credit Suisse
Securities (USA) LLC, Deutsche Bank Securities Inc. and J.P.
Morgan Securities Inc. act as the joint bookrunners, and Goldman
Sachs Credit Partners L.P. and Morgan Stanley Senior Funding,
Inc., act as co-managers.

                   About Harrah's Entertainment

Las Vegas, Nevada-based Harrah's Entertainment, Inc. --
http://www.harrahs.com/-- operates nearly 40 casinos across the
United States, primarily under the Harrah's(R), Caesars(R) and
Horseshoe(R) brand names; Harrah's also owns the London Clubs
International family of casinos and the World Series of Poker(R).
Private equity firms Apollo Global Management and TPG Capital LP
acquired Harrah's in January for $31 billion.

As of June 30, 2009, the Company had $30.7 billion in total assets
and total current liabilities of $1.71 billion, long-term debt of
$19.3 billion, deferred credits and other of $718.2 million,
deferred income taxes of $5.74 billion, and preferred stock of
$2.46 billion.

                           *     *     *

As reported by the Troubled Company Reporter on September 25,
2009, Moody's Investors Service assigned a Caa1 rating to the
$1.0 billion senior secured term loan to be issued by Harrah's
Operating Company.  Moody's also affirmed Harrah's Entertainment's
Caa3 Corporate Family rating, Caa3 Probability of default rating
and all of the long-term debt ratings of HET and HOC, Inc.

The TCR said June 15, 2009, that Standard & Poor's Ratings
Services raised its corporate credit ratings on Harrah's
Entertainment and Harrah's Operating to 'CCC+' from 'CCC'.


HAWKER BEECHCRAFT: Bank Debt Trades at 23.66% Off
-------------------------------------------------
Participations in a syndicated loan under which Hawker Beechcraft,
Inc., is a borrower traded in the secondary market at 76.34 cents-
on-the-dollar during the week ended Oct. 16, 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 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 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 Oct. 16,
among the 158 loans with five or more bids.

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.

Hawker Beechcraft carries a long-term corporate credit rating of
'CCC+' from Standard & Poor's Ratings Services, and a Caa2
corporate family rating from Moody's Investors Service.


HFAH MONACO SPE: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: HFAH MONACO SPE LLC
        333 Seventh Avenu, 3rd Floor
        New York, NY 10001

Bankruptcy Case No.: 09-16152

Chapter 11 Petition Date: October 14, 2009

Court: United States Bankruptcy Court
       Southern District of New York

Judge: Arthur J. Gonzalez

Debtor's Counsel: Joseph Corneau, Esq.
                  Klestadt & Winters, LLP
                  292 Madison Avenu, 17th Floor
                  New York, NY 10017
                  Tel: (212) 972-3000
                  Fax: (212) 972-2245
                  Email: jcorneau@klestadt.com

                  Tracy L. Klestadt, Esq.
                  Klestadt & Winters, LLP
                  292 Madison Avenu, 17th Floor
                  New York, NY 10017-6314
                  Tel: (212) 972-3000
                  Fax: (212) 972-2245
                  Email: tklestadt@klestadt.com

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

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

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

The petition was signed by Sara Pfrommer, C.R.O. & general counsel
of the Company.


HIDEAWAY MARINA: Case Summary & 10 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: The Hideaway Marina Limited Partnership
        599 S Federal Hwy
        Pompano Beach, FL 33062

Bankruptcy Case No.: 09-32179

Chapter 11 Petition Date: October 14, 2009

Court: United States Bankruptcy Court
       Southern District of Florida

Judge: Raymond B. Ray

Debtor's Counsel: Charles I Cohen, Esq.
                  2255 Glades Rd #337W
                  Boca Raton, FL 33431
                  Tel: (561) 395-0500
                  Email: pmouton@furrcohen.com

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

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

According to the schedules, the Company has assets of at least
$6,888,500, and total debts of $11,450,740.

A full-text copy of the Debtor's petition, including a list of its
10 largest unsecured creditors, is available for free at:

             http://bankrupt.com/misc/flsb09-32179.pdf

The petition was signed by Pierre Gaudreau, general partner of the
Company.


HUNTSVILLE SPE: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Huntsville SPE LLC
        333 Seventh Avenu, 3rd floor
        New York, NY 10001

Bankruptcy Case No.: 09-16153

Chapter 11 Petition Date: October 14, 2009

Court: United States Bankruptcy Court
       Southern District of New York

Judge: Arthur J. Gonzalez

Debtor's Counsel: Joseph Corneau, Esq.
                  Klestadt & Winters, LLP
                  292 Madison Avenu, 17th Floor
                  New York, NY 10017
                  Tel: (212) 972-3000
                  Fax: (212) 972-2245
                  Email: jcorneau@klestadt.com

                  Tracy L. Klestadt, Esq.
                  Klestadt & Winters, LLP
                  292 Madison Avenu, 17th Floor
                  New York, NY 10017-6314
                  Tel: (212) 972-3000
                  Fax: (212) 972-2245
                  Email: tklestadt@klestadt.com

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

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

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

The petition was signed by Sara Pfrommer, C.R.O. & general counsel
of the Company.


INTERGRAPH CORP: S&P Gives Stable Outlook, Affirms 'B+' Rating
--------------------------------------------------------------
Standard & Poor's Ratings Services said it revised its outlook on
Huntsville, Alabama-based Intergraph Corp. to stable from
positive.  While the company has demonstrated good profitability
and free cash flow, in the third quarter of 2009, it opted to
return some its excess cash flow to shareholders in the form of a
dividend, in lieu of reducing debt from the high-3x area.

At the same time, S&P affirmed the 'B+' corporate credit rating on
the company.

"The rating on Intergraph reflects the highly competitive and
consolidating government IT services industry, a short track
record at current profitability levels, and a leveraged financial
profile," said Standard & Poor's credit analyst Jennifer Pepper.
A recurring and predictable revenue stream stemming from long-term
contracts and entrenched customer relationships partially offsets
these factors.


INTEGRATED BIOPHARMA: Amper Politziner Raises Going Concern Doubt
-----------------------------------------------------------------
Amper, Politziner & Mattia, LLP, in Edison, New Jersey, expressed
substantial doubt about Integrated BioPharma, Inc.'s ability to
continue as a going concern after auditing the Company and
subsidiaries' financial statements for the years ended June 30,
2009, and 2008.  The auditing firm said that the Company has a
working capital deficiency and recurring net losses, is in the
process of seeking additional capital, and that the Company has
not yet secured sufficient capital to fund its operations.

Intergrated BioPharma reported a net loss of $18.2 million on net
sales of $39.4 million for the fiscal year ended June 30, 2009,
compared with a net loss of $18.2 million on net sales of
$43.9 million in fiscal 2008.

The decrease in sales is, in part, the result of a decrease in
sales in the Company's contract manufacturing products sales which
decreased by approximately $4.0 million, primarily due to lower
volume and selling prices to one of the Company's major customers
of approximately $4.5 million, offset in part by an increase in
sales to other customers of approximately $500,000.

At June 30, 2009, the Company's consolidated balance sheet showed
$16.5 million in total assets and $18.9 million in total
liabilities, resulting in a $2.4 million stockholders' deficit.

The Company's consolidated balance sheet at June 30, 2009, also
showed strained liquidity with $12.0 million in total current
assets available to pay $14.9 million in total current
liabilities.

Full-text copies of the Company's consolidated financial
statements for the fiscal year ended June 30, 2009, are available
for free at http://researcharchives.com/t/s?46f9

Headquartered in  Hillside, New Jersey, Integrated BioPharma,
Inc., a Delaware corporation is engaged primarily in
manufacturing, distributing, marketing and sales of vitamins,
nutritional supplements and herbal products.  The Company's
customers are located primarily in the United States.  The Company
was previously known as Integrated Health Technologies, Inc., and,
prior to that, as Chem International, Inc.  The Company was
reincorporated in its current form in Delaware in 1995.  As of
September 22, 2009, the Company's common stock trades on the OTC
Bulletin Board under the symbol INBP.OB.  The Company continues to
do business as Chem International, Inc., with certain its
customers and certain vendors.


ISP CHEMCO: Bank Debt Trades at 5.25% Off in Secondary Market
-------------------------------------------------------------
Participations in a syndicated loan under which ISP Chemco, LLC,
is a borrower traded in the secondary market at 94.75 cents-on-
the-dollar during the week ended Friday, Oct. 16, 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 May 23, 2014.  The Company pays 175 basis points above
LIBOR to borrow under the facility.  The bank debt carries Moody's
Ba3 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 Oct. 16, among the
158 loans with five or more bids.

ISP Chemco, LLC, headquartered in Wayne, New Jersey, manufactures
specialty chemicals and industrial chemicals and is part of a
group of companies which is a beneficially owned by Samuel Heyman.
Revenues for the twelve months ending April 5, 2009, were
$1.3 billion.

As reported by the Troubled Company Reporter on Aug. 6, 2009,
Moody's Investors Service revised the ratings outlook to stable
from negative and affirmed the Ba3 ratings on the guaranteed
senior secured credit facilities of ISP Chemco LLC (Ba3 Corporate
Family Rating), a wholly owned subsidiary of International
Specialty Holdings LLC.  The change in outlook to stable signals
that even after significant dividends and the effects of the
global downturn Chemco's credit metrics have remained relatively
stable.

The Ba3 ratings reflect the relatively heavy debt burden at Chemco
that has resulted in weak credit metrics along with the historic
dividends going up to the parent.  Moody's concern over such event
risk from Chemco's controlling member has served to keep Chemco's
ratings at the lower end of the Ba category.  A further concern is
the lack of SEC financials, which has limited the level of
disclosure provided.  Chemco's financial statements, while
audited, (with an unqualified opinion from Ernst & Young), provide
less detail than Moody's receive from other issuers with public
filings.


IVIVI TECHNOLOGIES: Posts $1.8MM Net Loss in Quarter Ended June 30
------------------------------------------------------------------
Ivivi Technologies, Inc.'s condensed financial statements have
been reclassified as of June 30, 2009, and March 31, 2009, and for
the three months ended June 30, 2009, and 2008, to reflect the
Company's entering into an Asset Purchase Agreement as of
September 24, 2009, pursuant to which, upon completion of the
transactions subject to the Asset Purchase Agreement, the
Company will effectively dispose of all its assets of a continuing
business nature, with such assets being reflected as "Assets of
Discontinued Operations, Held for Sale".

As reported in the Troubled Company Reporter on September 25,
2009, Ivivi Technologies, Inc. disclosed on September 24, 2009,
that it has entered into an asset purchase agreement to sell
substantially all of its assets to an entity controlled by Steven
Gluckstern, the Company's chairman, president, chief executive
officer and chief financial officer.

               Results of Discontinued Operations

Net loss decreased $355,731 to $1,846,584 for the quarter ended
June 30, 2009, compared to $2,202,315 for the quarter ended
June 30, 2008.  The decrease in net loss primarily resulted
from (i) decreases in loss from discontinued operations of
$955,026, or 43%, partially offset by (ii) decreases in interest
income of $41,449, or 92%, and (iii) increase in interest expense
of $557,846, or 100%.

Total revenue decreased by $248,838, or 65%, to $134,358 for the
quarter ended June 30, 2009, as compared to $358,196 for the
quarter ended June 30, 2008.

At June 30, 2009, the Company's balance sheet showed total assets
of $2,869,130, total liabilities of $1,813,310, and stockholders'
equity of $1,055,820.

Based in Montvale, New Jersey, Ivivi Technologies, Inc., formerly
AA Northvale Medical Associates, Inc., sells and rents non-
invasive electro-therapeutic medical devices.  These products are
sold or rented primarily through distributors and customers
located in the United States with additional markets in Mexico.

                     Going Concern Doubt

The Company had a net loss of $1,846,584 and $2,202,315 for the
quarters ended June 30, 2009, and 2008, and a working capital
deficiency from discontinued operations of $267,591 at June 30,
2009, prior to the Company's decision to cease operations.  The
Company had a net loss of $7,333,604 and $7,503,091, respectively,
for the fiscal years ended March 31, 2009, and 2008, and a
corresponding working capital deficit of $256,136 at March 31,
2009, also prior to the Company's decision to cease operations.
At June 30, 2009, the Company had cash balances of approximately
$772,000 which is not sufficient to meet current cash requirements
for the next twelve months.

Ivivi Technologies, Inc. believes these factors, among others,
raise substantial doubt about the Company's ability to continue as
a going concern.


KELVIN CREWS: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Joint Debtors: Kelvin R. Crews
               Louann D. Crews
               7600 Nutty Buddy Circle
               Glen Saint Mary, FL 32040

Bankruptcy Case No.: 09-08641

Chapter 11 Petition Date: October 14, 2009

Court: United States Bankruptcy Court
       Middle District of Florida

Judge: Jerry A. Funk

Debtors' Counsel: Albert H. Mickler, Esq.
                  5452 Arlington Expressway
                  Jacksonville, FL 32211
                  Tel: (904) 725-0822
                  Email: court@planlaw.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
$1,314,300, and total debts of $2,060,459.

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/flmb09-08641.pdf

The petition was signed by the Joint Debtors.


KOOSHAREM CORPORATION: High Leverage Cues Moody's Junk Ratings
--------------------------------------------------------------
Moody's Investors Service downgraded Koosharem Corporation's (dba
Select Staffing corporate family rating to Caa1 from B3 and the
probability-of-default rating to Caa2 from B3.  Moody's also
downgraded the rating on its first lien senior secured credit
facilities to B3 from B2 and the rating on the second lien term
loan to Caa3 from Caa2.  The ratings outlook remains negative.

The downgrade of the corporate family rating reflects Koosharem's
high financial leverage, the continued challenging operating
environment, and weak cash flow generation that constrains
liquidity and financial flexibility.  However, the corporate
family rating derives some support from Moody's view that leverage
and interest based metrics are good for the ratings category as
well as the potential for the owners to contribute additional
capital into the business.  Additionally, recent improvements in
the company's staffing activity levels could indicate the
potential for improvements in operating performance over the near-
term.

The downgrade of the probability-of-default rating reflects
Moody's opinion that a default under the credit agreement is
likely unless the company is able to secure an amendment to
current financial covenant levels, execute a material deleveraging
of the balance sheet through an equity infusion, or pursue some
form of a financial restructuring.  However, Moody's believes any
potential amendment would likely increase the interest rate under
the first lien credit facilities and further pressure already weak
cash flows.

These ratings were downgraded:

  -- Corporate Family Rating to Caa1 from B3;

  -- Probability-of-Default Rating to Caa2 from B3;

  -- $50 million senior secured first lien revolving credit
     facility due 2014 to B3 (LGD2, 24%) from B2 (LGD3, 37%);

  -- $390 million senior secured first lien term loan B due 2014
     to B3 (LGD2, 24%) from B2 (LGD3, 37%);

  -- $100 million senior secured second lien term loan due 2014 to
     Caa3 (LGD5, 74%) from Caa2 (LGD5, 88%).

The negative ratings outlook reflects Moody's concern that a weak
economy will continue to pressure the company's sales,
particularly as many of its corporate customers reduce the level
of temporary staffing as well as concerns over continued covenant
compliance.

The last rating action was on September 1, 2009, when Moody's
downgraded Koosharem's corporate family rating to B3 from B2, the
rating on its first lien senior secured credit facilities to B2
from B1, and the rating on its second lien term loan to Caa2 from
Caa1.  The ratings outlook was negative.

Koosharem Corporation, headquartered in Santa Barbara, California,
is a privately-held staffing services business with a network of
more than 420 offices in over 40 states including a network of
approximately 160 franchises.  The company offers temporary, temp-
to-hire, and direct placement positions and derives most of its
revenues from the placement of light industrial and clerical
staff.


LA BUENA VIDA: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: La Buena Vida, Inc.
          dba Juan Pablo's Margarita Bar
        404 West Hand Avenu, Unit 200
        Wildwood, NJ 08260

Bankruptcy Case No.: 09-37348

Chapter 11 Petition Date: October 14, 2009

Court: United States Bankruptcy Court
       District of New Jersey

Debtor's Counsel: Andrew L. Unterlack, Esq.
                  Scott H. Marcus & Assoc.
                  121 Johnson Road
                  Turnersville, NJ 08012
                  Tel: (856) 227-0800
                  Fax: (856) 227-7939
                  Email: aunterlack@marcuslaw.net

Estimated Assets: $0 to $50,000

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

According to the schedules, the Company has assets of at least $0,
and total debts of $2,806,715.

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

             http://bankrupt.com/misc/njb09-37348.pdf

The petition was signed by John Paul Paxton, president of the
Company.


LANDAMERICA FIN'L: Proposes Bar Date for D&O Claims
---------------------------------------------------
Debtors LandAmerica Financial Group, Inc., and LandAmerica 1031
Exchange Services, Inc., ask Judge Heunnekens to issue an order
establishing a deadline -- that is 10 business days from the date
an order approving the Motion is entered by the Court -- by which
any Officer or Director may file one or more proofs of claim or
amended proofs of claim against an Initial Debtor on account of
any claims that arose or arise from that person's service as an
officer or director of an Initial Debtor.

The Amended Joint Chapter 11 Plan proposed by the Debtors
contemplates that claims will be asserted, and causes of action
will be commenced, against current and former officers and
directors of the Initial Debtors.

Certain former Officers and Directors were current Officers or
Directors as of the date of the General Bar Date Order, and were
therefore exempt from the requirement of filing a proof of claim
for certain types of claims against the Initial Debtors.

John H. Maddock III, Esq., at McGuirewoods LLP, in Richmond,
Virginia, relates that as Officers and Directors were only
Excluded Parties under the General Bar Date Order with respect to
claims relating to base salary, vacation, benefits,
indemnification or reimbursement, substantially all Officers and
Directors have already filed a claim against the Initial Debtors.
Rule 3003(c)(3) of the Federal Rules of Bankruptcy Procedure
provides that the Court, for cause shown, may extend the time
within which proofs of claim or interest may be filed.  Thus,
even if an Officer or Director supplements a non-exempt claim in
connection with the Motion, the Court has the discretion to
extend the General Bar Date.

According to Mr. Maddock, if the Court grants the D&O Bar Date
Motion, any Officer or Director holding or wishing to assert a
claim, including a claim for indemnity or reimbursement, against
an Initial Debtor, will be required to file one or more proofs of
claim on or before the D&O Bar Date.  In addition, the Officers
and Directors will be required to comply with all other
requirements with respect to the filing of proofs of claim as set
forth in the General Bar Date Order.

The Debtors also seek that any Officer or Director who previously
filed a proof of claim be allowed, but not required, to file one
or more additional or amended proofs of claim.  The Debtors seek
that all previously filed proofs of claim be deemed timely filed
pursuant to the terms of the General Bar Date Order.

Mr. Maddock explains that the Debtors' request is in no way meant
to alter or supplement the Plan Voting Procedures.  In accordance
with the Voting Procedures, only Officers or Directors who, prior
to the Record Date, filed proofs of claim, or were scheduled as
holding a liquidated non-contingent, undisputed claim on the
Debtors' schedules of assets and liabilities in a class entitled
to vote on the Plan will be entitled to vote to accept or reject
the Plan.

The Debtors note that their Motion is supported by the official
creditors committees.

                    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).  Attorneys at
Willkie Farr & Gallagher LLP and McGuireWoods LLP serve as co-
counsel.  Zolfo Cooper is the restructuring advisor.  Epiq
Bankruptcy Solutions serves as claims and notice agent.

Attorneys at Akin Gump Strauss Hauer & Feld LLP and Tavenner &
Beran, PLC serve as counsel to the Creditors Committee of 1031
Exchange.  Bingham McCutchen LLP and LeClair Ryan serve as counsel
to the Creditors Committee of LFG.

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: Stipulation Releasing Kendall, et al., Property
------------------------------------------------------------------
Kendall Square, LLC, CLA Real Estate Investments, LLC, and PC
Real Estate Investors, LLC, each entered into an Exchange
Agreement dated September 30, 2008, with LandAmerica 1031
Exchange Services, Inc., to effectuate a Section 1031 tax deferred
exchange relating to the sale of property located at 3750 North
Cascade Avenue, in Colorado Springs, Colorado 80907.  Kendall
Square, CLA, and PC Real Estate, each owned a percentage interest
in the Relinquished Property.

In association with the tax deferred exchange involving the
Relinquished Property, these amounts were deposited with LES:

           Depositor             Amount
           ---------            --------
           Kendall Square       $672,052
           CLA                  $491,010
           PC Real Estate       $208,473

In association with the tax deferred exchange and the sale of the
Relinquished Property, Town and Country Mobile Lodge, L.P., a
California limited partnership, made an Installment Note --
Interest Only dated October 10, 2008 in the original principal
amount of $100,000.  The Note was made payable to LES.  Payment
of the Note was secured by a mortgage on the Relinquished
Property.

Town and Country desires to pay off the Note and in conjunction,
have LES release of record the mortgage on the Relinquished
Property.

Kendall Square, CLA, and PC Real Estate consent to the payment of
the Note and the release of the mortgage on the Relinquished
Property.

Accordingly, Kendall Square, CLA, and PC Real Estate, LES, the
Official Committees of Unsecured Creditors of LandAmerica 1031
Exchange Services Inc. and LandAmerica Financial Group Inc.
entered into a Court-approved stipulation agreeing that:

  (a) Town and Country will be permitted to pay the Note in
      full.  Upon payment of the Note, LES will promptly mark
      the Note paid and return the Note to Town and Country.

  (b) Promptly upon payment of the Note, LES will execute the
      documents as provided by Town and Country to release the
      mortgage on the Relinquished Property securing payment of
      the Note.

  (c) LES will hold the proceeds from the payment of the Note in
      a separately designated account.

  (d) The payment of the Note, the release of the mortgage
      securing payment of the Note, and LES holding the proceeds
      of the Note in a separately designated will have no effect
      on and will not constitute a waiver of the rights or
      positions of the parties as to the ownership of the Note
      or its proceeds and for all purposes, the proceeds of the
      Note will be deemed to be a substitute for the Note.

                    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).  Attorneys at
Willkie Farr & Gallagher LLP and McGuireWoods LLP serve as co-
counsel.  Zolfo Cooper is the restructuring advisor.  Epiq
Bankruptcy Solutions serves as claims and notice agent.

Attorneys at Akin Gump Strauss Hauer & Feld LLP and Tavenner &
Beran, PLC serve as counsel to the Creditors Committee of 1031
Exchange.  Bingham McCutchen LLP and LeClair Ryan serve as counsel
to the Creditors Committee of LFG.

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)


LEAR CORP: Bank Debt Trades at 4% Off in Secondary Market
----------------------------------------------------------
Participations in a syndicated loan under which Lear Corporation
is a borrower traded in the secondary market at 96.35 cents-on-
the-dollar during the week ended Oct. 16, 2009, according to data
compiled by Loan Pricing Corp. and reported in The Wall Street
Journal.  This represents an increase of 3.93 percentage points
from the previous week, The Journal relates.  The loan matures on
March 29, 2012.  The Company pays 250 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 Oct. 16, among the 158 loans with five or more
bids.

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)


LEGEND MEDIA: Goldman Parks Raises Going Concern Doubt
------------------------------------------------------
Goldman Parks Kurland Mohidin LLP, in Encino, Calif., expressed
substantial doubt about Legend Media, Inc.'s ability to continue
as a going concern after auditing the Company's consolidated
financial statements as of and for the year ended June 30, 2009,
and 2008.  The auditing firm pointed to the Company's net loss of
$6,432,061 for the fiscal year ended June 30, 2009, and working
capital deficit of $2,989,916 at June 30, 2009.

Legend Media reported a net loss of $6,432,061 for fiscal 2009, as
compared with a net loss of $1,549,921 in fiscal 2008.

During the fiscal year ended June 30, 2009, the Company had
revenues of were $9,990,373 compared to revenues of $4,726,040 for
the fiscal year ended June 30, 2008, an increase of $5,264,333.
The increase is attributable to the increase in sales of both
airline magazine advertising and radio advertising, with airline
magazine advertising sales driving a majority of the growth.

Gross profit was $4,874,375 for the fiscal year ended June 30,
2009, as compared to $1,936,550 for the fiscal year ended June 30,
2008, an increase of $$2,937,825 or 151.7%.

Operating expenses increased to $10,315,141 for the year ended
June 30, 2009, as compared to $2,727,413 for the year ended
June 30, 2008.  The increase is related to (a) increased selling,
general and administrative expenses, (b) increased amortization
expenses, (c) goodwill impairment and (d) losses related to the
termination of contracts.

Goodwill impairment of $1,061,562 and loss on termination of
contracts of $692,811 were recorded for the year ended June 30,
2009.  The majority of these expenses are related to the July 2009
decision to terminate the exclusive sales contract for the Beijing
FM 90.5 channel which was acquired July 21, 2008.

As a result of the above, loss from operations increased to
$5,440,766 for the year ended June 30, 2009, as compared to loss
from operations of $948,174 for the year ended June 30, 2008.

Net cash used in operating activities was $2,873,355 in the year
ended June 30, 2009, compared with net cash used in operating
activities of $267,964 in the year ending June 30, 2008.  The
Company funded its losses through available cash in part from the
issuance of Series A convertible preferred stock.

Cash used in investing activities in the year ended June 30, 2009,
was $1,769,082 compared with $465,831 for the comparable period
for the previous year and consisted primarily of a $740,010
payment against amounts due for the acquisition of Legend Media
Tianjin Investment Company and a $749,704 payment against amounts
due for the acquisition of News Radio Limited.

Cash provided by financing activities was $1,434,066 for the year
ended June 30, 2009, as compared to $3,923,709 for the year ended
June 30, 2008.

The Company says that although the business is expected to develop
and generate an increasing amount of cash, the Company may have to
raise additional funds to finance any continued losses and the
existing commitments.  The Company has outstanding notes payables
of $431,733 which are due; $375,733 of which amount is a loan from
a related party, RMK Emerging Growth Fund LP, from which the
Company expects to receive continued support and extension.  As of
June 30, 2009, no demand letters for payment have been received by
the Company.  Further, the Company will have to raise additional
funds to finance further expansion in China.

                        Balance Sheet

At June 30, 2009, the Company's consolidated financial statements
showed $11,083,168 in total assets, $6,665,171 in total
liabilities, and $4,417,997 in total stockholders' equity.

The Company's consolidated balance sheet at June 30, 2009, also
showed strained liquidity with $3,675,255 in total current assets
available to pay $6,665,171 in total current liabilities.

Full-text copies of the Company's consolidated financial
statements for the fiscal year ended June 30, 2009, are available
for free at http://researcharchives.com/t/s?470e

Based in Beijing, People's Republic of China, Legend Media, Inc.
(OTC BB: LEGE) -- http://legendmedia.com/-- formerly known as
Noble Quests, Inc., was organized as a Nevada corporation on
March 16, 1998.  Legend Media, Inc., is an advertising company
focused on selling advertising in China through major radio
channels and airline magazines.  The Company owns an exclusive
sales contract for Xinhua Airline Magazine, the air magazine for
Hainan Airline Group, which reaches a potential audience
approaching 20 million passengers per year.  The Company also owns
sales contracts for the radio channels FM 92.5 in Tianjin and FM
95.5 in Xi'an.


LNR PROPERTY: Bank Debt Trades at 24.17% Off in Secondary Market
----------------------------------------------------------------
Participations in a syndicated loan under which LNR Property Corp.
is a borrower traded in the secondary market at 75.83 cents-on-
the-dollar during the week ended Oct. 16, 2009, according to data
compiled by Loan Pricing Corp. and reported in The Wall Street
Journal.  This represents an increase of 0.42 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 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 Oct. 16, among the 158 loans
with five or more bids.

LNR Property Corp. -- 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.

As reported by the Troubled Company Reporter on Sept. 18, 2009,
Moody's Investors Service downgraded the ratings of LNR Property
Corporation's senior bank credit facility and corporate family
rating to B3 from B2, and placed the ratings under review for
possible downgrade.  The downgrade reflects the accelerated
deterioration in asset quality of the company's CMBS and real
estate investments as a result of the pressures on commercial real
estate fundamentals and the credit markets.


LONG RAP INC: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: Long Rap, Inc.
           dba Up Against the Wall & Commander Salamander
        1420 Wisconsin Ave NW
        Washington, DC 20007

Bankruptcy Case No.: 09-00913

Chapter 11 Petition Date: October 14, 2009

Court: United States Bankruptcy Court
       District of Columbia

Judge: Bankruptcy Judge S. Martin Teel, Jr.

Debtor's Counsel: Brent C. Strickland, Esq.
                  Whiteford, Taylor, & Preston L.L.P.
                  Seven Saint Paul Street
                  Baltimore, MD 21202-3324
                  Tel: (410) 347-8700
                  Email: bstrickland@wtplaw.com

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

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

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

The petition was signed by Charles Rendelman, president of the
Company.


LYONDELL CHEMICAL: Creditors Join Bid to Nix $1B on Enviro Claims
-----------------------------------------------------------------
Law360 reports that Lyondell Chemical Co.'s unsecured creditors
have backed the petrochemical manufacturer's bid to jettison
$1.1 billion in environmental claims, claiming the remediation
costs are already being sought by federal and state environmental
agencies.

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)


LYONDELL CHEMICAL: Proposes New Supply Pact With Evolution
----------------------------------------------------------
Lyondell Chemical Co. and its units ask the Court to permit Debtor
Basell USA Inc.'s entry into a contract for sale of polymers with
Evolution Sorbent Products, LLP, nunc pro tunc to September 1,
2009.

During June and July 2008, Evolution Sorbent accumulated a debt
of $542,749 owed to Basell on unpaid invoices for the purchase of
polypropylene.  Pursuant to the Agreement, Basell has agreed to
forgive $271,374 owed by Evolution Sorbent in exchange for (i)
immediate payment of the remaining $271,374 and (ii) Evolution
Sorbent's agreement to purchase all of its polypropylene
requirements from Basell for the next two years.  Basell can
terminate the Agreement on 30 days' notice if it determines that
the Agreement is not to its benefit.  If the Agreement is
terminated or ceases to be in effect prior to August 31, 2011,
for any reason other than Basell's termination or material breach
of the Agreement, Basell's forgiveness of $271,374 of Evolution
Sorbent's prepetition debt will be nullified and that amount will
immediately become due under the Agreement on September 2, 2009.

While the Debtors believe that Basell's entry into the Agreement
is in the ordinary course of Basell's business.  The Debtors seek
approval of the Agreement out of abundance of caution.  Moreover,
Basell's management projects that the exclusive supply provision
of the Agreement will provide substantial value to Basell, in
addition to the $271,374 that Basell will receive on account of
the amounts currently owed by Evolution Sorbent.

                      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)


LYONDELL CHEMICAL: Says Committee Has No Standing on D&O Expenses
-----------------------------------------------------------------
In the ordinary course of business, Lyondell Chemical Co. an its
units maintain several insurance policies from third-party
insurance carriers providing coverage for claims relating to
property, casualty, workers' compensation, and directors and
officers' liability.  Although many of the claims for which the
coverage is available under the Insurance Policies are stayed
during the pendency of the Debtors' Chapter 11 cases, certain
claims are not.

Pursuant to a court order dated July 27, 2009, the Official
Committee of Unsecured Creditors was granted standing to assert
claims belonging to the Debtors' estates against various parties,
including claims for breach of fiduciary duty against certain
current and former officers and directors of the Debtors and
their predecessors-in-interest.  Moreover, under the Debtors'
charters and by-laws, the Debtors are obligated to indemnify the
officer and director defendants for any costs incurred in
connection with the defense of those claims.

Accordingly, pursuant to Sections 362 and 363 of the Bankruptcy
Code, the Debtors ask the Court:

  (i) to modify the automatic stay to permit the Debtors'
      insurers to pay or reimburse any covered prepetition or
      postpetition defense costs incurred in connection with the
      defense of actions that are not subject to the automatic
      stay, including any adversary proceedings -- known as
      Exempt Insured Cases; and

(ii) to allow the Debtors to satisfy certain prepetition and
      postpetition claims of their counsel for fees and expenses
      incurred in the defense of Exempt Insured Cases to the
      extent that those fees and expenses are covered by
      insurance and the relevant insurer agrees to pay or
      reimburse the Debtors for those claims.

On behalf of the Official Committee of Unsecured Creditors,
Steven D. Pohl, Esq., at Brown Rudnick LLP, in Boston,
Massachusetts, points out that the existence of indemnification
or entity coverage may mean that the policies and their proceeds
constitute property of the Debtors' estates and the Court may, in
the balancing of the interests in property, need to monitor and
control the extent to which the policies are drawn.  He notes
that the claims asserted by the Committee in its complaint
against the Debtors' secured lenders and officers are substantial
and may implicate the applicable Insurance Policy for defense
costs, indemnification and liability.

Against this backdrop, the Creditors' Committee asks the Court to
condition approval of the Defense Costs Motion by (i) requiring
the Debtors to periodically report to the Creditors' Committee
the amount of payments made by the Debtors' insurers; and (ii)
placing a reasonable cap on the initial amount that may be drawn
on the applicable insurance policies without prejudice to the
affected parties to make additional requests to the Court.

In response to the Committee's objuection, the Debtors contend
that the Creditors Committee does not have standing to limit the
Debtors' directors and officers' recovery of defense expenses
under the D&O policies in connection with their defense of the
action commenced by the Committee against certain of the Debtors'
lenders and officers.

Andrew M. Troop, Esq., at Cadwalader, Wickersham & Taft LLP, in
New York, relates that the Lyondell runoff D&O program insures
certain former and current directors of Lyondell Chemical
Company, including Carol Anderson, James Bayer, Kevin Cadenhead,
Susan Carter, Stephen Chazen, C. Bart de Jong, Edward Dineen,
Kevin DeNicola, Travis Engan, Rick Fontenot, Kerry Galvin, Morris
Gelb, Gary Koehler, Paul Halata, Charles Hall, John Hollinshead,
Daniel Huff, David Lesar, Francis McGrail, David Meachin, Daniel
Murphy, Norman Phillips, Dan Smith and William Spivey, who are
defendants in the Committee Action.

The Lyondell runoff D&O program provides a total of $150 million
in limits of liability, plus $50 million of Side A only
insurance, which protects only the corporation's directors and
officers and only applies when the corporation is unable or
unwilling to indemnify them against a claim.  The second D&O
insurance program is the B.I. S.a.r.l. D&O program, which insures
the members of the LyondellBasell Industries Supervisory Board,
including Simon Baker, Lincoln Benet, Alan Bigman, Leonard
Blavatnik, Phillip Kassin, Lynn Coleman, Bertrand Duc, Richard
Floor, John Fisher Gray, Michael Mulrooney, R. Kent Potter, Dawn
Shand, and Kevin Walsh, who are defendants in the Committee
Action.  The B.I. S.a.r.l. D&O program provides a total of $200
million in limits of liability, plus EUR50 million of Side A only
insurance.

Mr. Troop argues that the proceeds of the D&O Policies are not
the property of the Debtors' estates because:

  (a) the D&O policies contain "priority of payments provisions
      requiring payment of claims by covered directors and
      officers prior to payment of any claims made by the
      Debtors;

  (b) the D&O policies pay money "on behalf of" the Debtors and
      do not reimburse the Debtors for sums that the Debtors
      pay, so that the Debtors would not be entitled to receive
      money from any of the D&O Insurers;

  (c) most of the D&O policies do not even insure claims against
      the Debtors;

  (d) the D&O Policies that do insure claims against the Debtors
      have no claims to pay, as they only insure "securities"
      claims and there are no claims of that kind against the
      Debtors; and

  (e) the coverage for corporate indemnification payments does
      not apply because the Debtors have no need to access the
      coverage to indemnify the individual defendants in the
      Committee Action.

To the extent the Court should rule that proceeds of the D&O
Policies are property of the Debtors' estates, the Debtors
believe that the Officers and Directors are entitled to
unfettered access to their insurance proceeds to pay for the
defense of the Directors and Officers against the Committee
Action under the Policies' Side A coverage.  Accordingly, the
Debtors ask the Court to grant the Defense Costs Motion and
overrule the Committee's objection.

In separate filings, Len Blavatnik, Lincoln Benet and Philip
Kassin and the D&O Defendants join in the Debtors' response to
the Committee's objection.

                           *    *    *

Judge Gerber grants the Debtors' Defense Costs Motion.  Judge
Gerber rules that to preserve the confidentiality of the Debtors'
insurance coverage information, any objections to the payment of
defense costs and expenses in connection with Exempt Insured
Cases will be filed under seal.

On a bimonthly basis, beginning November 9, 2009, and subject to
Highly Confidential provisions of a Committee Professionals
Confidentiality Agreement, the Debtor will provide to the
Creditors' Committee the amount by which the available policy
limits of the Debtors' AIG Europe and Zurich D&O insurance
policies, and to the extent that the limits of liability of the
D&O Policies have been exhausted, have been depleted since the
last report and on an aggregate basis by payment of defense costs
incurred in connection with the Committee Action, Judge Gerber
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)


MAMMOTH EQUITIES: Can't Repay Loans, Seeks Bankr. Protection
------------------------------------------------------------
Mammoth Equities LLC is seeking bankruptcy protection because it
can't repay $68 million in construction loans coming due this
year, The Orange County Register reports.

About $200 million of commercial mortgage-backed bonds are also
coming due by the end of 2009, followed by $275 million going into
2010, The OC Register relates, citing Stan Ross of the USC Lusk
Center for Real Estate.  The report quoted Mr. Ross as saying,
"Since there's no liquidity in the market, there is no known
direct source of replacing those commercial mortgage-backed
bonds."

According to The OC Register, Mammoth Equities senior officer Joe
Ryerson said, "We were unable to find an alternative source of
lenders . . . .  We were facing two things: foreclosure and
bankruptcy.  Bankruptcy is the answer we chose to take."

Court documents say that five of Mammoth Equities' properties in
San Juan Capistrano, Carlsbad, Temecula, and in Rocklin are
currently in Chapter 11, with hearings scheduled into 2010.

Mammoth Equities LLC is based in San Juan Capistrano, California.


LYONDELL CHEMICAL: Motion to Determine Property Tax Liability
-------------------------------------------------------------
Debtor Houston Refining, LP, owns and operates Houston Refinery
located at Houston Ship Channel in Harris County, Texas.  The tax
assessment of the Refinery reflects an assessed value of almost
$400 million above the value the Debtors believe is appropriate.
Thus, on June 22, 2009, Houston Refining filed nine notices of
protest contesting the property tax values assigned to the
Refinery for the year 2009.  In response to the Notices of
Protest, an administrative hearing was held on July 27, 2009,
before the Appraisal Review Board of the Harris County Appraisal
District.  In a letter dated August 18, 2009, the ARB determined
the property value for the Refinery should be $1.343 billion.
The Debtors dispute the ARB Valuation because it establishes an
appraised value that is $395,431,500 higher than what the Debtors
believe is the proper value.  The Debtors estimate that this
difference will result in an adverse property tax impact to
Houston Refining's estate of $10.6 million in 2009, which could
negatively affect their financial performance in 2009 and beyond.
Three property tax claims filed by Harris County; the Pasadena
Independent School District; and San Jacinto Community College
were based on the disputed value for the Refinery.

Thus, the Debtors ask the Court to (i) set a hearing for the
determination of the property tax payable by the Debtors with
respect to the Refinery; (ii) establish a briefing schedule with
respect to the Determination; and (iii) stay the current tax
proceeding while the Court undertakes the Determination.

The Debtors propose this briefing schedule:

* the Debtors' initial brief in support of their asserted
   Valuation of the Refinery for the year 2009 will be filed
   with the Court and served on applicable parties no later than
   30 days after entry of an order granting its Motion to
   Determine;

* all briefs in response to the Debtors' Initial Brief must be
   filed and served no later than 30 days after the deadline for
   filing of the Initial Brief; and

* the Debtors may file a reply to the Response Briefs and serve
   it on all necessary parties no later than 15 days after the
   deadline to file the Response Briefs.

A hearing would be held after completion of the Briefing Schedule
and prior to January 31, 2010, the last day on which the
Refinery's 2009 property taxes can be timely paid.

Christopher R. Mirick, Esq., at Cadwalader, Wickersham & Taft
LLP, in New York, asserts that absent the Determination, the
Debtors would be subject to a property assessment and appeal
process that could take several years to conclude, hindering the
administration of the Debtors' estates and causing undue and
prolonged uncertainty as to the value of the Refinery for
property tax purposes.

                 Harris County Entities React

On behalf of the Harris County Appraisal District, Jay B.
Spievack, Esq., at Cohen Tauber Spievack & Wagner, P.C., in New
York, asserts that the Motion for Determination is the Debtors'
second attempt to avoid the adjudicated valuation of the
Refinery.

Mr. Spievack notes that the Debtors have not exercised their
statutory right to appeal the Appraisal Review Board's valuation
to the District Court for Harris County, Texas.  More
importantly, he argues that the Debtors' proposed valuation
methodology improperly asks the Bankruptcy Court to make a
fundamental change for valuing refineries in Texas.
Texas state courts are particularly suited to considering these
types of tax disputes, he says, adding that the tax issues can be
heard promptly thus avoiding any adverse effect on the Debtors'
estate.

Accordingly, the Appraisal District asks the Bankruptcy Court to
deny the Motion for Determination.  To the extent the Bankruptcy
Court is to retain jurisdiction over the tax dispute, the
Appraisal District asks the Court to decide the tax dispute in
the context of an adversary proceeding.

For its part, Harris County Tax Assessor, holder of an amended
claim for $19 million against Houston Refining, asks the Court to
abstain and allow the State law process to work to conclusion.

Elizabeth Weller, Esq., at Linebarger Goggan Blair & Sampson,
LLP, in Dallas, Texas, explains that under Section 1334(c)(2) of
Title 28 of the U.S. Code, the Bankruptcy Court has no federal
jurisdiction regarding the tax dispute between the parties.
Texas law not only predominates but overwhelms all other issues
presented in the Motion for Determination and is the law which
would apply in deciding the issues presented, she asserts.  While
the $10 million in taxes may appear to be significant, and the $2
million owed to the Tax Assessor and other entities, it is a
fairly insignificant amount, she points out.  At best, the
determination of these tax issues is not necessary for the
Debtors' Chapter 11 cases to proceed to confirmation and
implementation of a plan of reorganization, she maintains.

                     Debtors Talk Back

Christopher R. Mirick, Esq., at Cadwalader, Wickersham & Taft
LLP, in New York, Debtors' counsel, argues that mandatory
abstention is not applicable because the Motion for Determination
is considered "core" under Section 157 of Title 28 of the U.S.
Code.  Since Section 505(a) of the Bankruptcy Code specifically
provides bankruptcy courts with jurisdiction to hear tax
liability matters, most courts have held that a Section 505(a)
proceeding arises under the Bankruptcy Code and is a core
proceeding, says Mr. Mirick citing In re Chance Rides, Inc. v.
Dir., Div. of Taxation.

The issues in the Motion for Determination would not be resolved
by the Texas state court for at least 18 to 24 months, which is
well beyond the deadline for the Debtors to confirm a plan of
reorganization in their Chapter 11 cases, he asserts.  To the
extent the Harris County Entities feel that it is improper to
have a Bankruptcy Court with jurisdiction over a debtor and its
assets review and determine the debtor's tax liability, that
issue has been foreclosed by Congress, which has explicitly
empowered bankruptcy courts to do just that, he maintains.

Mr. Mirick assures the Court that the valuation issues raised in
the Motion for Determination are not particularly complex and are
consistent with valuation determinations often made by the Court
in other contexts in these and other Chapter 11 cases.  He argues
that the Determination by the Court is necessary because it
brings certainty to the amount of property taxes payable with
respect to the Refinery.  In contrast, the Harris County
Appraisal District is not required by Texas state law to use a
particular methodology, and the Harris County Entities have not
demonstrate how the Determination would set precedent for
property valuation in the future, he contends.

Thus, the Debtors ask the Court to overrule the Harris County
Entities' objections.

                      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)


MAGUIRE PROPERTIES: Appaloosa Discloses 8.39% Equity Stake
----------------------------------------------------------
Appaloosa Investment Limited Partnership I; Palomino Fund Ltd.;
Thoroughbred Fund L.P.; Thoroughbred Master Ltd.; Appaloosa
Management L.P.; Appaloosa Partners Inc.; and David A. Tepper
disclosed holding shares of Maguire Properties, Inc. common stock:

                                 Amount               Percent
                                 Beneficially Owned   of Class
                                 ------------------   --------
   Appaloosa Investment
   Limited Partnership I              1,308,456         2.73%

   Palomino Fund Ltd.                 1,912,360         3.99%

   Thoroughbred Fund L.P.               393,905         0.82%

   Thoroughbred Master Ltd.             411,300         0.86%

   Appaloosa Management L.P.          4,026,021         8.39%

   Appaloosa Partners Inc.            4,026,021         8.39%

   David A. Tepper                    4,026,021         8.39%

Mr. Tepper is the sole stockholder and the President of API.  API
is the general partner of, and Mr. Tepper owns a majority of the
limited partnership interest in, AMLP.  AMLP is the general
partner of AILP and TFLP, and acts as investment advisor to
Palomino and TML.

As reported by the Troubled Company Reporter on August 12, 2009,
Maguire Properties may relinquish control of seven Southern
California buildings with $1.06 billion of debt and said it's not
planning on filing for bankruptcy.

In its second quarter 2009 report on Form 10-Q, the Company
warned, "We may not have the cash necessary to repay our debt as
it matures.  Therefore, failure to refinance or extend our debt as
it comes due, or a failure to satisfy the conditions and
requirements of such debt, could result in an event of default
that could potentially allow lenders to accelerate such debt.  If
our debt is accelerated, our assets may not be sufficient to repay
such debt in full, and our available cash flow may not be adequate
to maintain our current operations.  If we are unable to refinance
or repay our debt as it comes due (particularly in the case of
loans with recourse to our Operating Partnership) and maintain
sufficient cash flow, our business, financial condition, results
of operations and common stock price will be materially and
adversely affected, and we may be required to file for bankruptcy
protection."

As of June 30, 2009, the Company's assets total $4,392,301,000
against debts of $4,866,253,000, for a stockholders' deficit of
$473,952,000.

Maguire Properties said in an August 10 statement that its Board
of Directors has approved management's plan to seek to dispose of
four former EOP/Blackstone assets and two other assets in
cooperation with lenders as well as Park Place I and certain
parking areas and development rights.  During the quarter ended
June 30, 2009, the Company recorded a non-cash impairment charge
of approximately $345 million associated with these assets.

                     About Maguire Properties

Maguire Properties, Inc. -- http://www.maguireproperties.com/--
is the largest owner and operator of Class A office properties in
the Los Angeles central business district and is primarily focused
on owning and operating high-quality office properties in the
Southern California market.  Maguire Properties, Inc. is a full-
service real estate company with substantial in-house expertise
and resources in property management, marketing, leasing,
acquisitions, development and financing.


MAGUIRE PROPERTIES: Registers 500,000 Shares Under Director Plan
----------------------------------------------------------------
Maguire Properties, L.P., filed with the Securities and Exchange
Commission a registration statement on Form S-8 to register
500,000 shares of the Company's common stock that may be issued
pursuant to the Maguire Properties, Inc. Director Stock Plan.

The Company said the proposed maximum aggregate offering price is
$1,450,000.

A full-text copy of the registration statement is available at no
charge at http://ResearchArchives.com/t/s?4712

As reported by the Troubled Company Reporter on August 12, 2009,
Maguire Properties may relinquish control of seven Southern
California buildings with $1.06 billion of debt and said it's not
planning on filing for bankruptcy.

In its second quarter 2009 report on Form 10-Q, the Company
warned, "We may not have the cash necessary to repay our debt as
it matures.  Therefore, failure to refinance or extend our debt as
it comes due, or a failure to satisfy the conditions and
requirements of such debt, could result in an event of default
that could potentially allow lenders to accelerate such debt.  If
our debt is accelerated, our assets may not be sufficient to repay
such debt in full, and our available cash flow may not be adequate
to maintain our current operations.  If we are unable to refinance
or repay our debt as it comes due (particularly in the case of
loans with recourse to our Operating Partnership) and maintain
sufficient cash flow, our business, financial condition, results
of operations and common stock price will be materially and
adversely affected, and we may be required to file for bankruptcy
protection."

As of June 30, 2009, the Company's assets total $4,392,301,000
against debts of $4,866,253,000, for a stockholders' deficit of
$473,952,000.

Maguire Properties said in an August 10 statement that its Board
of Directors has approved management's plan to seek to dispose of
four former EOP/Blackstone assets and two other assets in
cooperation with lenders as well as Park Place I and certain
parking areas and development rights.  During the quarter ended
June 30, 2009, the Company recorded a non-cash impairment charge
of approximately $345 million associated with these assets.

                     About Maguire Properties

Maguire Properties, Inc. -- http://www.maguireproperties.com/--
is the largest owner and operator of Class A office properties in
the Los Angeles central business district and is primarily focused
on owning and operating high-quality office properties in the
Southern California market.  Maguire Properties, Inc. is a full-
service real estate company with substantial in-house expertise
and resources in property management, marketing, leasing,
acquisitions, development and financing.


MALBEC PROPERTIES: Voluntary Chapter 11 Case Summary
----------------------------------------------------
Debtor: Malbec Properties LLC
        661A Pleasant Street
        Norwood, MA 02062

Bankruptcy Case No.: 09-19787

Chapter 11 Petition Date: October 14, 2009

Court: United States Bankruptcy Court
       District of Massachusetts

Judge:  Henry J. Boroff

Debtor's Counsel: Victor Bass, Esq.
                  Burns & Levinson LLP
                  125 Summer Street
                  Boston, MA 02110-1624
                  Tel: (617) 345-3290
                  Email: vbass@burnslev.com

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

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

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

The petition was signed by Donald Gabor, manager & member of the
Company.


MARANI BRANDS: Gruber & Company Raises Going Concern Doubt
----------------------------------------------------------
Gruber & Company, LLC, in Saint Louis, Missouri, expressed
substantial doubt about Marani Brands, Inc.'s ability to continue
as a going concern after auditing the Company's consolidated
financial statements for the years ended June 30, 2009, and 2008.
The auditing firm said that the Company's viability is dependent
upon its ability to obtain future financing and the success of its
future operations.

As of June 30, 2009, the Company has an accumulated deficit of
$24,389,258.  The Company said its current business plan requires
additional funding beyond its anticipated cash flows from
operations.

Marani Brands, Inc. reported a net loss of $6,714,843 on sales of
$402,373 for the year ended June 30, 2009, compared with a net
loss of $15,366,813 on sales of $168,058 for the comparable period
ended June 30, 2008.

The Company said its reduced net loss in 2009 was primarily due to
the $11,779,577 that the Company booked as direct offering
expenses in 2008.  This was offset by a significant increase in
operating expenses.

At June 30, 2009, the Company's consolidated balance sheet showed
$1,465,904 in total assets and $2,787,867 in total liabilities,
resulting in a $1,321,963 stockholders' deficit.

The company's consolidated balance sheet at June 30, 2009, also
showed strained liquidity with $1,455,649 in total current assets
available to pay $2,663,187 in total current liabilities.

Full-text copies of the Company's consolidated financial
statements for the year ended June 30, 2009, are available for
free at http://researcharchives.com/t/s?4701

Based in North Hollywood, Calif., Marani Brands, Inc.'s current
business is the distribution of wine and spirit products
manufactured in Armenia.  The Company's signature product is
Marani Vodka, a premium vodka which is manufactured exclusively
for the Company in Armenia.


MARK WODLINGER: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Mark L. Wodlinger, II
        175 Golfview Dr
        Tequesta, FL 33469

Bankruptcy Case No.: 09-32191

Chapter 11 Petition Date: October 14, 2009

Court: United States Bankruptcy Court
       Southern District of Florida

Judge:  Erik P. Kimball

Debtor's Counsel: David Marshall Brown, Esq.
                  33 NE 2 St # 208
                  Ft. Lauderdale, FL 33301
                  Tel: (954) 765-3166
                  Email: dmbrownpa@bellsouth.net

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

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

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

The petition was signed by Mark L. Wodlinger, II.


MEDICURE INC: August 31 Balance Sheet Upside-Down by C$21 Million
-----------------------------------------------------------------
Medicure Inc.'s interim consolidated balance sheet at August 31,
2009, showed C$8,533,809 in total assets and C$29,948,209 in total
liabilities, resulting in a C$21,414,400 stockholders' deficit.

At August 31, 2009, the Company's interim consolidated balance
sheet also showed strained liquidity with C$2,736,381 in total
current assets available to pay C$4,777,082 in total current
liabilities.

The Company reported a net loss of C$1,909,559 for the first
quarter of fiscal 2010 ended August 31, 2009, compared with a net
loss of C$3,008,601 in the same period of fiscal 2009.

The main factors contributing to the decrease in the loss as
compared to 2009 fiscal year was the significant reduction in
foreign exchange loss offset by higher research and development
costs.

Net Product Sales declined C$230,000 or 19.6% to $941,000 in the
first quarter of 2010 compared with C$1,171,000 in the first
quarter of 2009.  The decline is attributable to a decline in
wholesale sales offset by the price increase introduced during the
3rd quarter of 2009 and a higher US exchange rate during the
quarter compared to the three months ended August 31, 2008.

Full-text copies of the Company's interim consolidated financial
statements are available for free at:

             http://researcharchives.com/t/s?470b

                     Going Concern Doubt

The Company reports that significant doubt exists about the
appropriateness of the use of the going concern assumption because
the Company has experienced operating losses and cash outflows
from operations since incorporation and has significant debt
servicing obligations.

The Company recorded a loss of C$1,909,559 and negative cash flows
from operations of C$1,042,718 for the three months ended
August 31, 2009, and the Company reported an accumulated deficit
of C$150,458,859 as at August 31, 2009.  The Company is also in
ongoing discussions with its senior lender to restructure its
debt.  The Company believes these conditions raise doubt about the
validity of the going concern.

At August 31, 2009, the Company had cash and cash equivalents
totaling C$938,000 compared to C$1,979,000 of cash and cash
equivalents as of May 31, 2009.  As at August 31, 2009, the
Company had a working capital deficiency of C$2,041,000 compared
to working capital deficiency of C$535,000 at May 31, 2009.  The
reduction of working capital was mainly due to the use of funds to
support operations.

                        About Medicure Inc.

Based in Manitoba, Canada, Medicure Inc. (TSX:MPH) --
http://www.medicure.com/-- is a biopharmaceutical company focused
on the research, development and commercialization of novel small
molecules to treat cardiovascular and neurological disorders.  The
Company's primary business activity is the marketing and
distribution of AGGRASTAT(R) (tirofiban hydrochloride) in the
United States for acute coronary syndromes.


MERRILL LYNCH: Pay Czar Blocks Kenneth Lewis' Pay
-------------------------------------------------
Kenneth Feinberg, the Treasury's "special master" for
compensation, pushed Bank of America Corp. CEO Kenneth D. Lewis
into giving back $1 million he received so far this year and
forgoing the rest of his $1.5 million salary for 2009, Deborah
Solomon and Dan Fitzpatrick at The Wall Street Journal report,
citing people familiar with the matter.

According to The Journal, Mr. Feinberg thought the at least
$69.3 million package of retirement benefits and unvested stock
Mr. Lewis takes with him when he steps down at year-end was large
enough, and possibly too big.

The Journal quoted a BofA spokesperson as saying, "Mr. Feinberg
suggested that Ken Lewis should take no compensation for 2009.
Mr. Lewis agreed. Mr. Lewis added that he felt it was not in the
best interest of Bank of America for him to get involved in a
dispute with the paymaster."

According to The Journal, NAB Research banking analyst Nancy Bush
found Mr. Feinberg's demand as an example of "absolute
overreaching" and sets a "bad precedent".  The Journal notes that
government officials have acknowledged privately and publicly that
the pay czar is likely to upset those who think his actions are
too intrusive and those who think he hasn't done enough.

Based in Charlotte, North Carolina, Bank of America --
http://www.bankofamerica.com/-- is one of the world's largest
financial institutions, serving individual consumers, small and
middle market businesses and large corporations with a full range
of banking, investing, asset management and other financial and
risk-management products and services.  The Company serves more
than 59 million consumer and small business relationships with
more than 6,100 retail banking offices, nearly 18,700 ATMs and
online banking with nearly 29 million active users.  Following the
acquisition of Merrill Lynch on January 1, 2009, Bank of America
is among the world's leading wealth management companies and is a
global leader in corporate and investment banking and trading
across a broad range of asset classes serving corporations,
governments, institutions and individuals around the world.  Bank
of America offers support to more than 4 million small business
owners.  The Company serves clients in more than 150 countries.
Bank of America Corporation stock is a component of the Dow Jones
Industrial Average and is listed on the New York Stock Exchange.

The bank needed the government's financial help in completing its
acquisition of Merrill Lynch.

Merrill Lynch & Co. Inc. -- http://www.ml.com/-- is a wealth
management, capital markets and advisory companies with offices in
40 countries and territories.  As an investment bank, it is a
leading global trader and underwriter of securities and
derivatives across a broad range of asset classes and serves as a
strategic advisor to corporations, governments, institutions and
individuals worldwide.  Merrill Lynch owns approximately half of
BlackRock, one of the world's largest publicly traded investment
management companies with more than $1 trillion in assets under
management.  Merrill Lynch's operations are organized into two
business segments: Global Markets and Investment Banking (GMI) and
Global Wealth Management (GWM).

As reported by the Troubled Company Reporter on March 27, 2009,
Moody's Investors Service lowered the senior debt rating of Bank
of America Corporation to A2 from A1, the senior subordinated debt
rating to A3 from A2, and the junior subordinated debt rating to
Baa3 from A2.  The preferred stock rating was downgraded to B3
from Baa1.  The holding company's short-term rating was affirmed
at Prime-1.


METALDYNE CORP: Completes Sale of All Assets to Carlyle Group
-------------------------------------------------------------
Metaldyne Corporation announced October 16 it has completed the
sale of substantially all of its assets to MD Investors
Corporation, an entity formed by private-equity firms Carlyle
Group and Solus Investment Funds.

MD Investors purchased certain assets related to Metaldyne's
Sintered Products, Vibration Controls Products, European Forging
Products and Powertrain Products Groups, including its balance
shaft module, driveline machining and assembly, and tubular
products operations.  In addition, certain chassis-related assets
were acquired.

The purchase was made under a court supervised 363 auction
process.  MD Investors paid approximately $40 million in cash
subject to adjustments under the asset purchase agreement, plus
the assumption of certain debt and liabilities, and credit bid
more than $425 million of secured term debt.  The new company will
operate under the name Metaldyne, LLC.

"These Metaldyne operations have solid product portfolios,
advanced technologies, and an experienced workforce," said Shary
Moalemzadeh of MD Investors.  "We have created a powertrain-
focused company that will be a stable supplier to the global
automotive industry, which we believe will benefit Metaldyne's
customers and other stakeholders."

MD Investors was formed by a group of Metaldyne's existing term
lenders led by The Carlyle Group, one of the largest global
private equity firms with just over $85 billion of assets under
management, and Solus Alternative Asset Management LP, a SEC-
registered investment advisor.

The sale process began in connection with Metaldyne and its U.S.
subsidiaries filing for protection under Chapter 11 of the U.S.
Bankruptcy Code on May 27, 2009.  Under U.S. bankruptcy law, a 363
sale allows a sale of assets on a going concern basis prior to
confirmation of a plan of reorganization where a good business
reason exists.

"The sale of our best performing businesses was the foundation of
our restructuring goals for Metaldyne's operations through the
Chapter 11 process, and I am very pleased with the leadership MD
Investors exhibited to bring this transaction to closure," said
Thomas A. Amato, chairman, president and CEO of Metaldyne, LLC.
"The strong support of our customers globally is a testament to
the technology of our products and processes, and the dedication
of our employees.  On behalf of all of the employees of the new
Metaldyne we look forward to a fresh start and new beginning."

The following operations are included in the sale:

    * Metaldyne's Sintered Products operations, including North
      Vernon Indiana; Ramos Arizpe, Mexico; Ridgway, Pennsylvania;
      St. Marys, Pennsylvania; Valencia, Spain; Indaiatuba,
      Brazil, and Warren, Michigan.

    * Metaldyne's European Forging operations, including Zell,
      Germany; Oslavany, Czech Republic, and Nurnberg, Germany

    * The Vibration Controls Products plants in Lyon, France,
      Litchfield, Michigan, Barcelona, Spain; Halifax, UK; Suzhou,
      China, and a joint venture in Jamshedpur, India;

    * The driveline machining and assembly operation in Bluffton,
      Indiana;

    * The balance shaft module operations, located in Pyeongtaek,
      Korea and Fremont, Indiana.

    * The tubular products operations housed in Hamburg, Michigan

    * The chassis operations in Edon, Ohio; Barcelona, Spain, and
      Iztapalapa, Mexico

    * Commercial and R&D locations in Plymouth, Michigan; Dieburg,
      Germany, and Tokyo, Japan

The aluminum die casting and valve body plant in Twinsburg, Ohio,
is still under consideration for the sale. Subject to a purchase
agreement amendment, MD Investors has an option period to make a
final decision on the inclusion of this plant while various site-
specific details are addressed.

Metaldyne's operations in New Castle, Indiana, Greensboro, N.C.,
Middleville, Michigan, Niles, Illinois, and Thamesville, Ontario,
Canada, were not included in the sale. The Greensboro, Niles,
Middleville and Thamesville plants will be closed by the end of
this year, and New Castle closed on August 31.

Metaldyne and its U.S. subsidiaries filed for bankruptcy primarily
as a result of excess leverage and the resulting interest
expenses, plus excessive pension and lease costs, all of which
resulted in strained liquidity by the unusually low production
volumes in the North American automotive industry. The filing did
not include the company's non-U.S. entities or operations. To
operate in Chapter 11, Metaldyne received a debtor-in-possession
(DIP) facility, which was funded by certain of Metaldyne's OEM
customers.


                        About Metaldyne Corp

Metaldyne was previously a wholly-owned subsidiary of Asahi Tec, a
Shizuoka, Japan-based chassis and powertrain component supplier in
the passenger car/light truck and medium/heavy truck segments.
Asahi Tec is listed on the Tokyo Stock Exchange.

Metaldyne Corporation and its affiliates filed for Chapter 11
protection on May 27, 2009 (Bankr. S.D.N.Y. Case No. 09-13412).
The filing did not include the company's non-U.S. entities or
operations.  Richard H. Engman, Esq., at Jones Day represents the
Debtors in their restructuring efforts.  Judy A. O'Neill, Esq., at
Foley & Lardner LLP serves as conflicts counsel; Lazard Freres &
Co. LLC and AlixPartners LLP as financial advisors; and BMC Group
Inc. as claims agent.  A committee of Metaldyne creditors is
represented by Mark D. Silverschotz, Esq., and Kurt F. Gwynne,
Esq., at Reed Smith LLP, and the committee tapped Huron Consulting
Services, LLC, as its financial advisor.  For the fiscal year
ended March 29, 2009, the company recorded annual revenues of
approximately US$1.32 billion.  As of March 29, 2009, utilizing
book values, the company had assets of US$977 million and
liabilities of US$927 million.  Judge Glenn approved the sale of
substantially all assets to Carlyle Group earlier this month for
approximately $496.5 million.

Metaldyne is a leading global designer and supplier of metal based
components, assemblies and modules for transportation related
powertrain applications including engine, transmission/transfer
case, driveline, and noise and vibration control products to the
motor vehicle industry.  The new Metaldyne company has
approximately $650 million in revenue with 26 facilities in 12
countries. For more information go to http://www.metaldyne.com/


METRO-GOLDWYN-MAYER: Bank Debt Trades at 42.55% Off
---------------------------------------------------
Participations in a syndicated loan under which Metro-Goldwyn-
Mayer, Inc., is a borrower traded in the secondary market at 57.45
cents-on-the-dollar during the week ended Oct. 16, 2009, according
to data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents an increase of 0.65 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
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 Oct. 16, among the 158 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.


MOHEGAN TRIBAL: S&P Assigns 'B-' Rating on $200 Mil. Senior Notes
-----------------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its 'B-'
issue-level rating to Mohegan Tribal Gaming Authority's proposed
$200 million second lien senior secured notes due 2017.  At the
same time, S&P placed its issue-level rating on MTGA's
$250 million 6.125% senior notes on CreditWatch with negative
implications.

Following close of this transaction, S&P will lower the issue-
level rating on these notes to 'CCC+' from 'B-'.

In addition, S&P affirmed all of its other outstanding ratings on
MTGA, including the 'B' issuer credit rating.  The rating outlook
is negative.

S&P does not assign recovery ratings to Native American debt
issues as there are sufficient uncertainties surrounding the
exercise of creditor rights against a sovereign nation.  These
include (1) whether the Bankruptcy Code would apply, (2) whether a
U.S. court would ultimately be the appropriate venue to settle
such a matter, and (3) to what extent a creditor would be able to
enforce any judgment against the sovereign nation.  Notching
reflects the relative position of each security in the capital
structure, incorporating the amount of higher ranking debt ahead
of each issue.

"The 'B' rating reflects MTGA's high debt leverage, limited cash
flow diversity, and distributions to the Tribe that preclude
meaningful cash flow retention," said Standard & Poor's credit
analyst Melissa Long.

The high quality of the resort in Connecticut and limited new
expected competition within the next two to three years partially
temper these concerns.

MTGA recently reported preliminary results for the fiscal year
ended Sept. 30, 2009.  In fiscal 2009, MTGA's net revenues fell in
the high-single-digit area.  S&P believes the decline in net
revenues of between 6% and 9% constitutes a low-double-digit
decline in net revenues at Mohegan Sun and a double-digit
percentage increase in net revenues at Pocono Downs (as a result
of the opening of the permanent facility in July 2008).  MTGA
reported that its fiscal 2009 EBITDA would fall within a range
representing a 2% decrease to a 2% increase for the fiscal year
ended Sept. 30, 2009.  The 'B' rating incorporates the expectation
that EBITDA, which S&P measure after relinquishment payments to
former developers, was flat to slightly up in fiscal 2009, within
MTGA's reported range.

In fiscal 2010, S&P expects that MTGA's net revenues and EBITDA
will be relatively flat compared with fiscal 2009.  Under S&P's
performance assumptions, S&P estimate that leverage, as measured
by total adjusted debt (including about $110 million in Tribal
debt, which is serviced through a priority distribution from
casino earnings) to EBITDA (after relinquishment payments to its
former developers) will remain above 7x through fiscal 2010.
S&P's measure of leverage differs from the bank's calculation for
covenant purposes.


MOMENTIVE PERFORMANCE: Bank Debt Trades at 15.2% Off
----------------------------------------------------
Participations in a syndicated loan under which Momentive
Performance Materials, Inc., is a borrower traded in the secondary
market at 84.79 cents-on-the-dollar during the week ended Oct. 16,
2009, according to data compiled by Loan Pricing Corp. and
reported in The Wall Street Journal.  This represents a drop of
1.07 percentage points from the previous week, The Journal
relates.  The loan matures on Dec. 5, 2013.  The Company pays 250
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
Oct. 16, among the 158 loans with five or more bids.

                    About Momentive Performance

Momentive Performance Materials, Inc., is a producer of silicones
and silicone derivatives, and is engaged in the development and
manufacture of products derived from quartz and specialty
ceramics.  As of Dec. 31, 2008, the Company had 25 production
sites located worldwide, which allows it to produce the majority
of its products locally in the Americas, Europe and Asia.
Momentive's customers include companies in industries, such as
Procter & Gamble, 3M, Goodyear, Unilever, Saint Gobain, Motorola,
L'Oreal, BASF, The Home Depot and Lowe's.

As of June 28, 2009, Momentive had $3.41 billion in total assets
on $3.96 billion in total liabilities, resulting in $551.8 billion
in stockholders' deficit.

The Troubled Company Reporter said September 28, 2009, that
Standard & Poor's Ratings Services placed all its ratings on
Momentive Performance Materials and its subsidiaries on
CreditWatch with positive implications, including the 'CCC-'
corporate credit rating on Momentive Performance Materials.  S&P
believes it is likely that the waiver, together with improving
operating performance, significantly reduces the likelihood of a
near-term covenant breach.  Quarterly EBITDA has been climbing
steadily since reaching a low of about $15 million (as calculated
for bank covenant purposes) in the first quarter of 2009.  It was
$64 million in the second quarter, and management expects it to be
between $84 million and $94 million in the third quarter.


MORGANS HOTEL: Lender Forebears Default Until October 2013
----------------------------------------------------------
Morgans Hotel Group Co. has entered into an agreement with one of
its lenders which holds, among other loans, the mezzanine loan on
the Company's Hudson Hotel property in New York City.

The Hudson mezzanine loan was to mature on July 12, 2010 and
provided for a 15-month extension at the Company's option, subject
to satisfaction of certain conditions.  Under the agreement
announced October 15, the mezzanine lender has agreed to forbear
until October 12, 2013 from exercising any remedies resulting from
a maturity default, subject only to maintaining certain interest
rate caps and making cash payments within the control of MHG.  As
part of the agreement, the outstanding balance of the Hudson
mezzanine loan has been decreased from $32.5 million to
$26.5 million.

The mezzanine lender also has agreed to cooperate with MHG in its
efforts to seek an extension of the $217 million Hudson mortgage
loan, which is also set to mature on July 12, 2010, and to consent
to certain refinancings and other modifications of the Hudson
mortgage loan.

Marc Gordon, President of Morgans Hotel Group, said, "This
agreement demonstrates our continued progress in strengthening
Morgans' balance sheet and our lender's confidence in the value of
the Hudson property and the future potential of the Morgans
portfolio.  We also believe that this agreement and the reduction
in the outstanding loan balance together with the cooperation of
the mezzanine lender will enhance our ability to obtain an
extension of the Hudson mortgage loan."

                     About Morgans Hotel Group

Morgans Hotel Group Co. -- http://www.morganshotelgroup.com/--
operates and owns, or has an ownership interest in, Morgans,
Royalton and Hudson in New York, Delano and Shore Club in Miami,
Mondrian in Los Angeles, Mondrian in Scottsdale and Mondrian in
South Beach, Clift in San Francisco, and Sanderson and St Martins
Lane in London.  MHG and an equity partner also own the Hard Rock
Hotel & Casino in Las Vegas and related assets.  MHG has other
property transactions in various stages of completion, including
projects in SoHo, New York; Las Vegas, Nevada; Palm Springs,
California; Boston, Massachusetts; and Dubai, UAE.


MORRIS PUBLISHING: Refinances Sr. Loan; Wins Forbearance Extension
------------------------------------------------------------------
Morris Publishing Group, LLC, on Thursday said it has consummated
a refinancing transaction involving the acquisition and amendment
of its existing $136.5 million senior secured indebtedness, after
which an affiliate of ACON Investments LLC owns $19.7 million of
Tranche A senior debt, a Morris affiliate owns $6.8 million of
Tranche B senior debt and Morris affiliates own $110 million of
Tranche C senior debt.

The Tranche A senior debt bears cash interest at the rate of 15%
per annum. The 5% interest rate on the Tranche B senior debt and
the 15% interest rate on the Tranche C senior debt will be paid-
in-kind (PIK) as an addition to the principal amount rather than
cash.  All principal payments on the senior debt will be applied
first to the Tranche A senior debt until paid in full.  All three
tranches of senior debt remain senior to the $278.5 million
outstanding principal amount of Morris Publishing's existing 7%
Senior Subordinated Notes Due 2013; however, Morris affiliates
have deposited the $110 million of Tranche C senior debt into an
escrow account for eventual cancellation upon successful
consummation of a proposed restructuring transaction supported by
holders of over 75% of the Existing Notes.

On September 25, 2009, Morris Publishing announced that it had
agreed to the terms of a restructuring agreement with an ad hoc
committee of holders of over 75% percent of the Existing Notes,
subject to the final negotiation and execution of definitive legal
documentation and other closing conditions.  If the restructuring
is approved, the holders of the Existing Notes would exchange
their notes, including accrued interest, for $100 million of new
second lien secured notes immediately upon the effective date of
either an out-of-court exchange offer or a confirmed plan of
reorganization.  The new notes will ultimately bear interest at
10% per annum, with a maturity four and one half years from the
effective date of the exchange.

Upon the exchange of the Existing Notes, approximately $25 million
of Tranche C senior debt will be canceled in repayment of
intercompany indebtedness to Morris Publishing and approximately
$85 million of Tranche C senior debt will be contributed to
capital of Morris Publishing.

In addition, Morris Publishing has obtained further extensions on
its forbearance agreement with holders of over 75% of the Existing
Notes with respect to its failure to make two semi-annual interest
payments of $9.7 million originally due February 1, 2009, and
August 3, 2009.  The forbearance period extends until December 11,
2009, but would terminate earlier on October 23, 2009, if Morris
Publishing has not entered into a definitive restructuring support
agreement with the ad hoc committee of holders of the Existing
Notes, or on October 30, 2009, if Morris Publishing does not
launch the exchange offer solicitation process.

                      About Morris Publishing

Morris Publishing Group, LLC -- http://www.morrisrestructures.com/
-- is a privately held media company based in Augusta, Georgia.
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.


MSGI SECURITY: Amper Politziner Raises Going Concern Doubt
----------------------------------------------------------
Amper, Politziner & Mattia, LLP, in Edison, New Jersey, expressed
substantial doubt about MSGI Security Solutions, Inc.'s ability to
continue as a going concern after auditing the Company's
consolidated financial statements for the years ended June 30,
2009, and 2008.

The auditing firm reported that the Company has suffered recurring
losses from operations, and negative cash flows from operations,
and has a substantial amount of notes payable due on demand or
within the next twelve months and has very limited capital
resources.

MSGI Security Solutions, Inc. reported a net loss of $7,975,006 on
total revenue of $282,000 for the year ended June 30, 2009,
compared to a net loss of $20,178,354 on total revenue of
$4,044,560 for the year ended June 30, 2008.

At June 30, 2009, the Company's consolidated balance sheet showed
$2,046,211 in total assets and $15,099,057 in total liabilities,
resulting in a $13,052,846 stockholders' defiict.

The Company's consolidated balance sheet at June 30, 2009, also
showed strained liquidity with $689 in total current assets
available to pay $15,099,057 in total current liabilities.

Full-text copies of the Company's consolidated financial
statements for the year ended June 30, 2009, are available for
free at http://researcharchives.com/t/s?4703

MSGI Security Solutions, Inc. (Other OTC: MSGI) --
http://www.msgisecurity.com/-- is a provider of proprietary
solutions to commercial and governmental organizations.  The
Company is developing a global combination of innovative emerging
businesses that leverage information and technology. The Company
is headquartered in New York City where it serves the needs of
counter-terrorism, public safety, and law enforcement and is
developing new technologies in nanotechnology and alternative
energy as a result of its recently formed relationship with The
National Aeronautics and Space Administration (NASA).


NAVISTAR INT'L: EVP & Chief Risk Officer William Caton Retires
--------------------------------------------------------------
William A. Caton, the Executive Vice President and Chief Risk
Officer of Navistar International Corporation, on October 12,
2009, notified the Company that he intends to retire effective
October 31.  His decision to retire was not as a result of any
disagreement with the Company or its management.

In connection with Mr. Caton's retirement, the Company is
considering extending additional healthcare coverage to Mr. Caton
and his spouse (beyond the 36 months of coverage currently
provided to him under his Executive Severance Agreement) at 100%
of the cost of coverage rate in effect at the time, until such
time as he and his spouse are eligible for Medicare benefits.

                          About Navistar

Navistar International Corporation (NYSE: NAV) --
http://www.Navistar.com/-- is a holding company whose
subsidiaries and affiliates subsidiaries produce International(R)
brand commercial and military trucks, MaxxForce(R) brand diesel
engines, IC Bus(TM) brand school and commercial buses, Monaco RV
brands of recreational vehicles, and Workhorse(R) brand chassis
for motor homes and step vans.  It also is a private-label
designer and manufacturer of diesel engines for the pickup truck,
van and SUV markets.  The company also provides truck and diesel
engine parts and service.  Another affiliate offers financing
services.

At July 31, 2009, the Company had $9.38 billion in total assets
and $10.66 billion in total liabilities, resulting in
$1.35 billion in stockholders' deficit.  Navistar reported
$9.65 billion in total assets and $11.09 billion in total
liabilities as of April 30, 2009, resulting in $1.44 billion in
stockholders' deficit.

                           *     *     *

Navistar carries Standard & Poor's Ratings Services' 'BB-'
corporate credit ratings and Fitch Ratings' 'BB-' Issuer Default
Ratings.


NORTEL NETWORKS: Wins Approval for Ciena-Led Auction
----------------------------------------------------
Joe Schneider at Bloomberg News reports that Nortel Networks Corp.
won court approval for a plan to sell its optical-networking
business at an auction with Ciena Corp. as lead bidder after
making changes to the proposal.

According to the report, Ciena agreed to put up a 5% deposit as
other bidders are required to do.  The Company also will let
courts decide whether it can block the return of rival bidders'
deposits and accepted restrictions on payment of a breakup fee,
said the Company's lawyer, Doug Bacon.

"This meets the requirements of the debtors' best interests," U.S.
Bankruptcy Court Judge Kevin Gross said at the Oct. 15 hearing.
"I am pleased to grant the motion."

Earlier in the day, Nortel Networks failed to win court approval
of the Ciena-led auction.  U.S. Bankruptcy Judge Kevin Gross said
the breakup fee to be paid to Ciena if its purchase of the Nortel
unit were to fall through was "not consistent" with Delaware law.

"Without a successful closing, there is no benefit to the estate,"
Judge Gross said, saying that result wasn't acceptable.  The buyer
shouldn't have a veto on bidders getting their deposits back, he
said.

Ciena(R) has entered into agreements with Nortel to purchase
substantially all of the optical networking and carrier Ethernet
assets of Nortel's Metro Ethernet Networks (MEN) business for
$390 million in cash and 10 million shares of Ciena common stock.
The $520-million deal is subject to higher and better offers at an
auction.

                      About Nortel Networks

Nortel Networks (OTCBB:NRTLQ) -- http://www.nortel.com/--
delivers communications capabilities that make the promise of
Business Made Simple a reality for our customers.  The Company's
next-generation technologies, for both service provider and
enterprise networks, support multimedia and business-critical
applications.  Nortel's technologies are designed to help
eliminate the barriers to efficiency, speed and performance by
simplifying networks and connecting people to the information they
need, when they need it.

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)


OLD BAY STEAMER: Expects to Emerge from Bankruptcy
--------------------------------------------------
The Bakery Cafe, Captain's Table, French Market Cafe, and Old Bay
Steamer have each filed for Chapter 11 bankruptcy protection.
Jeff Amy at Press-Register reports that the filers' owners said
that they expect to emerge from bankruptcy, while a new owner is
lined up to take over The Bakery Cafe, but not its debt.

Old Bay Steamer filed for bankruptcy protection on August 7, 2009,
listing $816,842 in assets against $904,660 in liabilities.  Its
largest creditor, BancorpSouth Bank, is owed $720,022 on a
mortgage on the restaurant's building.

The Bakery Cafe filed for bankruptcy on June 26, 2009, listing
$114,794 in assets against $202,096 in liabilities.  It owes its
biggest creditor, Internal Revenue Service, about $143,731 in back
taxes and penalties.

The French Market Cafe filed for bankruptcy on September 9, 2009,
listing $19,324.79 in assets against $475,316.83 in liabilities.
Its biggest creditor, Regions Bank, is owed about $235,000 on a
secured loan.

Captain's Table filed for Chapter 11 bankruptcy protection on
September 28, 2009, listing $1 million to $10 million in assets
and $1 million to $10 million in debts.


OSI RESTAURANT: Bank Debt Trades at 16.2% Off in Secondary Market
-----------------------------------------------------------------
Participations in a syndicated loan under which OSI Restaurant
Partners, Inc., is a borrower traded in the secondary market at
83.79 cents-on-the-dollar during the week ended Oct. 16, 2009,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents a drop of 0.81
percentage points from the previous week, The Journal relates.
The loan matures May 9, 2014.  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 Oct. 16,
among the 158 loans with five or more bids.

OSI Restaurant Partners, Inc., is the #3 operator of casual-dining
spots (behind Darden Restaurants and Brinker International), with
more than 1,400 locations in the U.S. and 20 other countries.  Its
flagship Outback Steakhouse chain boasts more than 950 locations
that serve steak, chicken, and seafood in Australian-themed
surroundings.  OSI also operates the Carrabba's Italian Grill
chain, with about 240 locations.  Other concepts include Bonefish
Grill, Fleming's Prime Steakhouse, and Cheeseburger In Paradise.
Most of the restaurants are company owned.  A group led by
chairman Chris Sullivan took the company private in 2007.

As reported by the Troubled Company Reporter on Feb. 24, 2009,
Moody's Investors Service downgraded OSI Restaurant's Probability
of Default rating to Ca from Caa1 and lowered the rating on its
$550 million 10% senior unsecured notes to C from Caa3.  Moody's
also placed OSI's Corporate Family and senior secured ratings on
review for possible downgrade.

The review was prompted by the recent announcement that OSI
continues to experience a substantial decline in earnings and
store traffic to levels worse than Moody's previously expected.
The company also announced that it will likely need to take an
impairment charge of between $480 and $540 million for goodwill
due to a reduction in its projected results for future periods as
a result of poor overall economic conditions.


PACIFIC ENERGY: Finds Buyer for Alaska Assets
---------------------------------------------
Law360 reports that Pacific Energy Resources Ltd. has found a
buyer for oil and gas production assets near Alaska's Cook Inlet,
roughly a month after a bankruptcy court's order allowing the
energy company to abandon the apparently unprofitable facilities.

Headquartered in Long Beach, California, Pacific Energy Resources
Ltd. -- http://www.pacenergy.com/-- engages in the acquisition
and development of oil and gas properties, primarily in the United
States.  The Company and seven of its affiliates filed for
Chapter 11 protection on March 8, 2009 (Bankr. D. Del. Lead Case
No. 09-10785).  Attorneys at Pachulski Stang Ziehl & Jones LLP,
represent the Debtors as counsel.  The Debtors proposed Rutan &
Tucker LLP as special corporation and litigation counsel;
Schully, Roberts, Slattery & Marino, PLC, as special oil and gas
and transactional counsel; Devlin Jensen as special Canadian
counsel; Scott W. Winn, at Zolfo Cooper Management, LLC, as chief
restructuring officer; Lazard Freres & Co. LLC as investment
banker; and Albrecht & Associates, Inc., as agent for the Debtors
in the sale of their oil and gas properties.  Omni Management
Group, LLC, is the claims, balloting, notice and administrative
agent for the Debtors.  When the Debtors filed for protection from
their creditors, they listed between $100 million and
$500 million each in assets and debts.


PACIFIC PAWNBROKERS: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Pacific Pawnbrokers, Inc.
        701 RYLAND AVE
        RENO, NV 89502

Bankruptcy Case No.: 09-53610

Chapter 11 Petition Date: October 14, 2009

Court: United States Bankruptcy Court
       District of Nevada

Judge: Gregg W. Zive

Debtor's Counsel: Kevin A. Darby, Esq.
                  Darby Law Practice, Ltd.
                  4777 Caughlin Pkwy
                  Reno, NV 89519
                  Tel: (775) 322-1237
                  Fax: (775) 996-7290
                  Email: kevin@darbylawpractice.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
$263,167, and total debts of $3,462,655.

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/nvb09-53610.pdf

The petition was signed by Ben Derian, president of the Company.


PACIFIC SANDS: Frank Sassetti Raises Going Concern Doubt
--------------------------------------------------------
Frank L. Sassetti & Co., in Oak Park, Illinois, expressed
substantial doubt about Pacific Sands, Inc.'s ability to continue
as a going concern after auditing the Company' financial
statements for the years ended June 30, 2009, and 2008.  The
auditing firm pointed to the Company's significant accumulated
deficit.  Through June 30, 2009, the Company has incurred
cumulative losses of $4,349,891.

Pacific Sands, Inc., reported a net loss of $317,033 on net sales
of $1,197,485 for the year ended June 30, 2009, compared to a net
loss of $312,098 on net sales of $976,357 in fiscal 2008.

Gross profit for the fiscal year ending June 30, 2009, was
$640,189 or 53.4%, while gross profit for the year ending June 30,
2008, was $571,725 or 58.5%.

For the fiscal years ending June 30, 2009, and 2008, selling and
general administrative expenses were $931,108 and $852,277,
respectively.  Interest expense was $85,578 and $44,055 for the
years ended June 30, 2009, and 2008, respectively.

At June 30, 2009, the Company's balance sheet showed $1,192,133 in
total assets and $1,490,297 in total liabilities, resulting in a
$298,164 stockholders' deficit.

Full-text copies of the Company's consolidated financial
statements for the year ended June 30, 2009, are available for
free at http://researcharchives.com/t/s?46fc

Based in Racine, Wisconsin, Pacific Sands, Inc. with the right to
do business as Natural Water Technologies was incorporated in
Nevada on July 7, 1994.

Pacific Sands develops, manufactures, markets and sells a range of
nontoxic, environmentally friendly cleaning and water-treatment
products based on proprietary blended botanical, nontoxic and
natural chemical technologies. The Company's products have
applications ranging from water maintenance (spas, swimming pools,
fountains, decorative ponds) to cleaning (nontoxic household and
industrial) and pet care.


PAUL KANTER: Case Summary & 7 Largest Unsecured Creditors
---------------------------------------------------------
Joint Debtors: Paul A. Kanter
                  aka Dr. Paul A. Kanter, OD
                  aka Paul Kanter
               Susan M Meyer
                  aka Sue Meyer
                  aka RoamSweetHomes LLC
               21202 253rd Place SE
               Maple Valley, WA 98038

Bankruptcy Case No.: 09-26007

Chapter 11 Petition Date: October 14, 2009

Court: United States Bankruptcy Court
       Western District of Washington

Debtors' Counsel: Nasser U. Abujbarah, Esq.
                  The Law Offices Of Nasser U. Abujbarah
                  10654 N. 32nd St
                  Phoenix, AZ 85028
                  Tel: (602) 493-2586
                  Fax: (602) 923-3458
                  Email: NUALegal@yahoo.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
$2,951,381, and total debts of $4,434,985.

A full-text copy of the Debtors' petition, including a list of
their 7 largest unsecured creditors, is available for free at:

            http://bankrupt.com/misc/wawb09-26007.pdf

The petition was signed by the Joint Debtors.


PENN TREATY: Inks Separation Deal & Release with Ex-CEO Hunt
------------------------------------------------------------
Penn Treaty American Corporation, Penn Treaty Network America
Insurance Company and William Hunt, Jr., the former President and
Chief Executive Officer of PTNA and the Company, on October 9,
2009, entered into a Separation Agreement and General Release.
Mr. Hunt, a director of the Company, was party to an Employment
Agreement with PTNA, pursuant to which he also served for the
benefit of the Company.  The Employment Agreement provided for the
payment of 12 months of severance to Mr. Hunt upon the termination
of his employment without cause.  Mr. Hunt was also party to a
Change of Control Agreement with the Company.  The Agreement and
Release was entered into in satisfaction of any obligations due to
Mr. Hunt from PTNA and the Company related to the Employment
Agreement and the Change of Control Agreement.

Mr. Hunt's employment with PTNA was terminated on March 27, 2009,
and he resigned from his positions with the Company as of the same
date.  The Agreement and Release provides that Mr. Hunt will
receive severance pay in an amount equal to 12 months of salary at
the rate in effect prior to the date his employment terminated.
Pursuant to the terms of the Agreement, the Company will pay to
Mr. Hunt an amount equal to one month of salary and PTNA shall pay
to Mr. Hunt an amount equal to the remaining 11 months.

On October 2, 2009, the Insurance Commissioner of the Commonwealth
of Pennsylvania filed in the Commonwealth Court of Pennsylvania
Petitions for Liquidation for PTNA and American Network Insurance
Company.  PTNA is a direct insurance company subsidiary of Penn
Treaty American Corporation, and ANIC is a subsidiary of PTNA.

              About Penn Treaty American Corporation

Penn Treaty American Corporation -- https://www.penntreaty.com/ --
through its wholly owned direct and indirect subsidiaries, Penn
Treaty Network America Insurance Company, American Network
Insurance Company, American Independent Network Insurance Company
of New York, Network Insurance Senior Health Division and Senior
Financial Consultants Company, is engaged in the underwriting,
marketing and sale of individual and group accident and health
insurance products, principally covering long term nursing home
and home health care.


PHI GROUP: Kabani & Company Raises Going Concern Doubt
------------------------------------------------------
Kabani & Company, Inc., in Los Angeles, expressed substantial
doubt about PHI Group, Inc.'s ability to continue as a going
concern after auditing the Company's consolidated financial
statements for the years ended June 30, 2009, and 2008.  The
auditing firm pointed to the Company's accumulated deficit of
$23,312,661 and negative cash flow from operations of $550,329 for
the year ended June 30, 2009.

The Company reported a net loss of $8,322,040 for the year ended
June 30, 2009, compared with net income of $2,359,282 for the
fiscal year ended June 30, 2009.

Net revenue from consulting and advisory services for the fiscal
year ended June 30, 2009, was $2,006,220, as compared to
$3,609,318 for the prior year.

Total operating expenses for the year ended June 30, 2009, were
$1,595,009, compared to $1,658,534 for the prior year.

Income from operations for the year was $411,211, as compared to
$1,950,784 for the prior year.  The increase in income from
operations was mainly due to a 44% decrease in consulting and
advisory revenue and a 3.8% decrease in operating expenses during
the current fiscal year.

The company recorded a loss on sale marketable securities of
$4,018,965 compared with a gain of $701,832 for the prior year.
The company also recorded a gain on debt settlement of $187,794
compared to $67,719 for the prior year.  Interest expenses
increased to $586,468 versus $362,536 for the prior year due to
new notes payable added in the current period.  The company
recorded an impairment of marketable securities in the amount of
$4,061,715 and that of loan receivables in the amount of $282,148
for the year compared to no impairment recorded for the year ended
June 30, 2008.

At June 30, 2009, the Company's consolidated balance sheet showed
$2,998,793 in total assets, $6,727,662 in total liabilities, and
$1,071,261 in minority interest, resulting in a $4,800,129
stockholders' deficit.

The Company's consolidated balance sheet at June 30, 2009, also
showed strained liquidity with $2,109,836 in total assets
available to pay $6,727,662 in total current liabilities.

Full-text copies of the Company's consolidated financial
statements for the year ended June 30, 2009, are available for
free at http://researcharchives.com/t/s?4709

Based in Huntington Beach, Calif., PHI Group, Inc. (OTC BB: PHIE)
-- http://www.phiglobal.com/-- through its wholly-owned and
majority-owned subsidiaries engages in a number of diverse
business activities including consulting, merger and acquisition
advisory services, real estate development, mining, and
independent energy and maintains minority interests in various
companies operating in the areas of infrastructure, construction,
natural resources, finance, manufacturing, services and retail.
The Company provides financial consultancy and M&A advisory
services to U.S. and foreign companies and invests in selective
businesses that may create long-term shareholder value.


PHOENIX FOOTWEAR: Receives NYSE Amex Delisting Notice
-----------------------------------------------------
Phoenix Footwear Group, Inc., reported its preliminary results of
operations for the third quarter of fiscal 2009.

    --  Net profit of $310,000, or $0.04 per share, compared to a
        net loss of $2.1 million for the third quarter of fiscal
        2008.

    --  A loss from continuing operations during the third quarter
        of $1.0 million, or $0.12 per share.  Included in this
        loss is $303,000 in amortized financing exit fees,
        $180,000 of payroll  related expenses for terminated
        employees, and $115,000 of financial consulting and other
        fees.  This loss compares to a loss from continuing
        operations of $1.3 million for the third quarter of fiscal
        2008.

    --  Net sales from continuing operations during the third
        quarter of $5.5 million, down 32% compared to net sales
        from continuing operations of $8.0 million during the
        third quarter of fiscal 2008.

    --  Funded bank debt balance of $2.6 million at the close of
        the third quarter, which is a reduction of $5.4 million
        from the close of the second fiscal quarter of 2009.

Commenting on the quarter, Rusty Hall, CEO, said, "We are pleased
to report a net profit for the quarter and to have begun
rebuilding our capital base and balance sheet.  During the quarter
we closed the divestiture of our belt accessories business that
was operated by our wholly-owned subsidiary, Chambers Belt
Company, reduced bank debt by 68%, improved our gross margin by 22
percentage points from the second quarter of fiscal 2009, and
further reduced SG&A to $2.3 million for the quarter after
eliminating certain nonrecurring items.  While our net sales for
the quarter continued to be impacted by the difficult retail
environment, we believe we have made considerable progress on the
sales front.  Our order backlog for future shipments is 65% above
orders at the same time last year and our products are performing
well at retail.  Given the foundation our team has rebuilt, and
based on this backlog, we expect to begin generating profitable
organic growth beginning with the upcoming quarter."

As previously reported on July 9, 2009, we closed the Chambers'
asset sale transaction with Tandy Brands Accessories, Inc.  The
transaction was completed pursuant to an Amended and Restated
Asset Purchase Agreement dated July 7, 2009.  As part of the
purchase price, at closing, Tandy paid $2.6 million for inventory
and $500,000 for equipment.  In addition to the closing payments,
during the 12 months following closing, Tandy is obligated to pay
Chambers an earn-out based on a percentage of Tandy's revenues
generated from the sale of products formerly sold by the Chambers
business.  This earn-out is not capped and provides for $2,000,000
in minimum aggregate payments.  These payments are to be paid on a
monthly basis, except for an initial $430,000 advance payment that
was made to Chambers at closing.

                          Banking Update

On October 15, 2009 the Company and Wells Fargo Bank, National
Association entered into a Third Amendment to Forbearance
Agreement and Fourth Amendment to Credit and Security Agreement.
Under the terms of this Amendment, the existing credit agreement
and forbearance agreements were changed by, among other things,
decreasing the inventory sublimit in the borrowing base to
$2.3 million and providing for daily 1% decreases in the 46%
advance rate on eligible inventory after October 26, 2009 and
extending the maturity date for the revolving line of credit and
the expiration of the forbearance period to November 30, 2009.
The time period extensions are subject to the Company's continuing
adherence to various conditions. The Amendment requires the
Company pay Wells Fargo a $25,000 accommodation fee on December 1,
2009 unless Phoenix Footwear repays the indebtedness in full on or
before November 30, 2009.

As of October 14, 2009, the Company had $2.8 million outstanding
under the Credit Agreement with remaining availability of
$221,000.  The Company is engaged in discussions with several
different financing sources concerning the refinancing of the
revolving line of credit debt on or before November 30, 2009.

The description of the agreements above is qualified in its
entirety by reference to the full text of the applicable
agreements, copies of which will be attached as an exhibit to the
Company's Quarterly Report on Form 10-Q for the period ended
October 3, 2009.

                    NYSE Amex Delisting Notice

On October 9, 2009, the Company received a notice from the NYSE
Amex LLC (NYSE Amex), indicating that as of its quarter ended
July 4, 2009, the Company failed to meet the continued listing
standards of the NYSE Amex.  Specifically, the letter stated that
the Company is not in compliance with Section 1003(a)(ii) of the
NYSE Amex Company Guide, with stockholders' equity of less than
$4,000,000 and losses from continuing operations and/or net losses
in three of its four most recent fiscal years.  The letter also
stated that the Company must submit a plan to the NYSE Amex by
November 9, 2009 addressing how it intends to regain compliance
with this continued listing standards by April 11, 2011.  The plan
must be approved by the NYSE Amex in order for the Company to
maintain its listing.  The Company intends to submit a plan
shortly to the NYSE Amex that responds to this notification.  The
policy of the NYSE Amex is to make a determination within 45 days
of a company's submission of a plan for compliance as to whether
the company has made reasonable demonstration in the plan of an
ability to regain compliance with the continued listing standards
within the requisite time frame.  The NYSE Amex may either accept
the plan, at which time the Company will be subject to ongoing
monitoring for compliance with the plan, or not accept the plan
and initiate delisting proceedings.  There can be no assurance
that the NYSE Amex will accept any plan that the Company submits
or that, if it does accept any such plan, the NYSE Amex will not
subsequently initiate delisting proceedings as a result of the
NYSE Amex's compliance monitoring with respect to that plan or
otherwise.

                     About Phoenix Footwear Group

Phoenix Footwear Group, Inc. (NYSE Amex: PXG) headquartered in
Carlsbad, California, designs, develops and markets men's and
women's footwear and accessories.  Phoenix Footwear's brands
include Trotters(R), SoftWalk(R) and H.S. Trask(R).  The brands
are primarily sold through department stores, specialty retailers,
mass merchants and catalogs.

As of July 4, 2009, the Company had $20.4 million in total assets
and $17.1 million in total liabilities.


PIONEER INSURANCE: ASB Wants to Bankrupt Former Owners
------------------------------------------------------
Phil Kitchin at The Dominion Post reports that ASB has taken
bankruptcy action against John Gifford and Rob Elvidge -- who lost
their business, Pioneer Insurance, when former manager and jailed
Blair Fitzsimons stole $3 million from a supposedly secure company
bank account -- as well as their wives.  Messrs. Gifford and
Elvidge have had their homes sold out from under them, says The
Dominion Post.  According to The Dominion Post, Messrs. Gifford
and Elvidge blame ASB for a mixup which they claim wrongly gave
Mr. Fitzsimons access to secure bank accounts and the pair took
legal action seeking damages from ASB but ran out of money and had
to stop the fight.  ASB, The Dominion Post relates, then obtained
judgment for $746,000 from Mr. Gifford and his wife, Suellen, and
wants $416,856 from Mr. Elvidge and $216,856 from his wife, Liz.
The report says that ASB has already recovered most of the lost
millions by mortgagee sales of the two men's homes, but is
currently chasing interest charges of 22.5% and its legal fees of
$90,000.


PLANT INSULATION: Committee Gets 2nd Okay to Hire Sheppard Millin
-----------------------------------------------------------------
WestLaw reports that there was no substantial relationship between
a law firm's representation of an insurer in an action to resolve
the insurer's liability for asbestos claims against an insured
asbestos manufacturer and the firm's current representation of the
committee of unsecured creditors in an asbestos installer's
Chapter 11 case.  Thus, the firm was not disqualified from
representing the committee, even though both cases involved
insurance coverage issues in context of asbestos-related bodily
injury claims.  In re Plant Insulation Co., --- B.R. ----, 2009 WL
2823723, 51 Bankr. Ct. Dec. 273 (Bankr. N.D. Cal.) (Carlson, J.).

As reported in the Troubled Company Reporter on June 22, 2009, the
Bankruptcy Court took a second look at The Official Committee of
Unsecured Creditors' application to employ Sheppard, Mullin,
Richter & Hampton LLP as its counsel when this potential conflict
came to light after providing counsel to United States Fire
Insurance Company in Kelly-Moore Paint Company, Inc.'s case.  U.S.
Fire pushed for the law firm's disqualification.

San Francisco, California-based Plant Insulation Company provides
insulation products and services.  The Company filed for Chapter
11 on May 20, 2009 (Bankr. N.D. Calif. Case No. 09-31347).
Michaeline H. Correa, Esq., Peter J. Benvenutti, Esq., and Tobias
S. Keller, Esq., at Jones Day represents the Debtor in its
restructuring effort.  The Debtor has assets and debts ranging
from $500 million to $1 billion.


PNG VENTURES: Gets Interim OK to Access Greenfield Cash Collateral
------------------------------------------------------------------
The Hon. Christopher S. Sontchi of the U.S. Bankruptcy Court for
the District of Delaware authorized, on an interim basis, PNG
Ventures, Inc., and its debtor-affiliates to:

   -- obtain $2,000,000 postpetition financing from Greenfield
      Commercial Credit, LLC;

   -- use cash collateral; and

   -- grant adequate protection to secured lenders.

A final hearing on the DIP financing and cash collateral motion is
adjourned and rescheduled to Oct. 23, 2009, at 12:00 p.m. E.T.
before the Court.  Objections, if any, are due on Oct. 21, 2009,
at 10:00 a.m. E.T.

As reported in the Troubled Company Reporter on Sept. 30, 2009,
the Debtors, as of Sept. 2, 2009, owed Greenfield $816,573
pursuant to the existing financing agreements.  The loan is
secured by valid, perfected, enforceable and non-avoidable first
priority security interests and liens granted by ALT/Arizona
Debtors.

The Debtors are also indebted to Fourth Third, LLC in the amount
$37,454,789, as of Aug. 21, 2009, pursuant to a senior secured
credit facility.  The loan is secured by a first priority lien on
all of the Debtors' assets, except for the prepetition Greenfield
collateral on which it holds a second priority lien.

The Debtors owe $63,000 to BFI, an affiliate who was in direct and
indirect control of PNG.  The loan is secured by all of the
Debtors' assets, subject to a subordination and intercreditor
agreement with Medley as to the senior secured credit facility.
The Debtors believed that BFI is an unsecured creditor.

The Debtors do not have sufficient available sources of working
capital to operate their businesses in the ordinary course of
business without the financing.  The Debtors were unable to
procure financing in the form of unsecured credit.

Greenfield agreed to extend loans, certain loans, advances and
other financial accommodations.

                    Salient Terms of DIP Financing

Borrowers:       Applied LNG Technologies USA, LLC and Arizona
                 LNG, LLC

DIP Lender:      Greenfield Commercial Credit, LLC

Commitment:      The DIP Facility will consist of advances of
under DIP        funds on Debtors' accounts receivable
Facility         constituting postpetition financing up to an
                 aggregate principal amount of $2 million,
                 inclusive of outstanding prepetition Greenfield
                 Obligations, as limited by the Budget, and
                 subject to the terms and conditions of the
                 Existing Financing Agreements as amended and
                 restated in the Ratification Agreement and the
                 Maximum Loan Amount of no greater than
                 $1 million, inclusive of prepetition Greenfield
                 Obligations, during the Interim Order period and
                 $2 million after entry of a Permanent Financing
                 Order.

Terms and        March 1, 2010, on the occurrence of an event of
Final Maturity   default or the automatic stay has been lifted or
Date:            modified.

Interest Rate:   Prime plus interest at an annual rate of LIBOR
                 plus 7%, with LIBOR subject to a floor of 2%.

Commitment       The Lender shall be paid a DIP Facility Fee (as
Fee:             of $20,000.

Carve-Out:       The liens and superpriority claims granted to
                 Greenfield pursuant to the Ratification Agreement
                 and Interim Order will not be subject and
                 subordinate to a carve out.

Events of        (i) Debtors' failure to perform, in any respect,
Default:         any of the terms, conditions or covenants or
                 their obligations under the Interim Order; or
                 (ii) An Event of Default under the Ratification
                 Agreement which occurs after the date of the
                 Interim Order.

The Debtors are also authorized to use cash collateral of
Medley and Greenfield, each of whom consented to the Debtors' use
of cash collateral.

                         About PNG Ventures

Through its Applied LNG Technologies and other subsidiaries, the
Company engages in the production, distribution, and sale of
liquefied natural gas to customers consisting of public utilities,
industrial end-users and other fleet customers within the
transportation, manufacturing, distribution, and municipal
markets, primarily in California, Arizona, and Nevada. The Company
also offers turnkey fuel solutions, including delivery, equipment
storage, fuel dispensing equipment, and fuel loading facilities.

PNG Ventures and its affiliates filed for Chapter 11 on
September 10, 2009 (Bankr. D. Del. Case No. 09-13162).  Attorneys
at Fox Rothschild LLP represent the Debtors in their restructuring
effort.  Logan & Co. serves as claims and notice agent.

As of June 30, 2009, PNG had total assets of $41,416,000 against
total debts of $47,519,000.


PREMIER DEVELOPMENT: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Premier Development L.L.C.
        1001 West Broad Street
        Falls Church, VA 22046

Bankruptcy Case No.: 09-18448

Chapter 11 Petition Date: October 14, 2009

Court: United States Bankruptcy Court
       Eastern District of Virginia

Judge: Stephen S. Mitchell

Debtor's Counsel: Bennett A. Brown, Esq.
                  The Law Office of Bennett A. Brown
                  3905 Railroad Avenue, Suite 200N
                  Fairfax, VA 22030
                  Tel: (703) 591-3500
                  Fax: (703) 591-2185
                  Email: bennett@pcgalaxy.com

Estimated Assets: $0 to $50,000

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

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

            http://bankrupt.com/misc/vaeb09-18448.pdf

The petition was signed by Michael Dolgas, managing member of the
Company.


PRICHARD ALA: May File for Bankruptcy for 2nd Time
--------------------------------------------------
Chad Petri at WKRG.com reports that the city of Prichard is
considering filing for bankruptcy protection, as the city faces
pension lawsuits by retirees.  WKRG.com notes that if city
officials go through with it, this would be the second time
Prichard has filed for bankruptcy.  Robert Hedge, the lawyer for
the more than 50 retirees suing the city, said that bankruptcy
filing would put their lawsuit on hold.

In October 1999, Prichard, Ala., filed for Chapter 9 protection
after searching for several weeks for an alternative solution,
according to a newswire report.  The City Council had tried to
borrow to buy its way out of debt, but the Chapter 9 filing was
considered the only viable option.  (ABI 07-Oct-99)


PROVIDENT ROYALTIES: Sells Mineral Assets to Consul for $12.5MM
----------------------------------------------------------------
Dennis L. Roossien, Jr., the duly-appointed Chapter 11 trustee for
Provident Royalties, LLC and its affiliated debtors, asks the U.S.
Bankruptcy Court for the Northern District of Texas for authority
to sell certain assets, subject to higher and better offers,
pursuant to section 363(f) of the Bankruptcy Code.

Prior to Provident's petition date, Raymond James & Associates,
Inc. was engaged to, among other things, conduct a strategic
marketing of the Debtors' assets and restructuring efforts for the
Debtors' business.  As a part of the marketing efforts, the
Debtors' assets were generally divided into: (i) the assets upon
which Sinclair Oil and Gas Company asserts a lien; (ii) the
Debtors' leasehold interests; and (iii) the Debtors' mineral
interests.

Also through the marketing efforts, the bid of Consul Properties,
L.L.C. emerged as the highest and best bid for the Debtors'
mineral assets that are not a part of the Sinclair Assets.
The Trustee proposes to sell the assets to Consul free and clear
of all liens, claims, encumbrances, and interests.  The assets
will be sold in their "As Is, Where Is" condition without
representations or warranties of any kind whatsoever.

The purchase price for the assets is $12,535,308, payable by
wire transfer of immediately available funds and subject to
certain adjustments.  Consul has deposited 10% of the Purchase
Price with U.S. Bank National Association.

A hearing will be conducted on this matter on Oct. 26, 2009, at
10:00 am (CST), Earle Cabell Building, U.S. Court House, 1100
Commerce Street, Dallas Texas.

                     About Provident Royalties

Based in Dallas, Texas, Provident Royalties LLC owns working
interests in oil and gas properties primarily in Oklahoma.
Provident and its affiliates filed for Chapter 11 on June 22, 2009
(Bankr. N.D. Tex. Case No. 09-33886).  Judge Harlin DeWayne Hale
presides over the case.  Epiq Bankruptcy Solutions, LLC is
the claims and noticing agent.  The United States Trustee for
the Northern District of Texas appointed nine members to the
Official Committee of Unsecured Creditors.

On July 2, 2009, the Securities and Exchange Commission filed,
under seal, a complaint in District Court for the Northern
District of Texas against the Debtors and certain of their
principals and managing partners on allegations that they sold
stock and limited partnership interest to over 7,700 investors as
part of a $485 million Ponzi scheme.

On July 2, 2009, the District Court for the Northern District of
Texas appointed Dennis L. Roossien, Jr., at Munsch Hardt Kopf &
Harr P.C. in Dallas, Texas, as receiver for the Debtors.  On
July 20, 2009, the Bankruptcy Court appointed the receiver as the
Debtors' Chapter 11 trustee.  Mr. Roossien, Jr., has taken
possession and control of the Debtors' property and business.

Mr. Roossien, Jr., has selected Patton Boggs, LLP, as his special
counsel.  Patton Boggs, LLP, was Debtors' counsel before the
appointment of Mr. Roossien, Jr., as Chapter 11 trustee.  Mr.
Roossien, Jr., has selected Munsch Hardt Koph & Harr, P.C., as
counsel.  Gardere, Wynne, Sewell, LLP, is the proposed counsel to
the official committee of unsecured creditors.

The Company, in its petition, listed between $100 million and
$500 million each in assets and debts.


QIMONDA NA: Gets Court Nod to Sell Assets for $172.5 Million
------------------------------------------------------------
The Hon. Mary F. Walrath of the U.S. Bankruptcy Court for the
District of Delaware authorized Qimonda Richmond, LLC and Qimonda
North America Corp. to sell key assets to Texas Instruments
Incorporated for $172.5 million, free and clear of liens and
encumbrances.

The Debtors will convey to TI, the stalking horse bidder, its
assets, which include (a) the 300mm tools; (b)various office
equipment, furniture, information technology equipment, process
tools, facility-related systems, support equipment and tool
replacement parts; and (c) the 300mm tools that the Debtor is
purchasing from the related purchase agreements.

Genral Electric Capital Corp., the DIP lenders, Overland, RBS and
Henrico County consented to the sale.

Qimonda AG (NYSE: QI) -- http://www.qimonda.com/-- is a leading
global memory supplier with a diversified DRAM product portfolio.
The Company generated net sales of EUR1.79 billion in financial
year 2008 and had -- prior to its announcement of a repositioning
of its business -- approximately 12,200 employees worldwide, of
which 1,400 were in Munich, 3,200 in Dresden and 2,800 in Richmond
(Virginia, USA).  The Company provides DRAM products with a focus
on infrastructure and graphics applications, using its power
saving technologies and designs.  Qimonda is an active innovator
and brings high performance, low power consumption and small chip
sizes to the market based on its breakthrough Buried Wordline
technology.

Qimonda AG commenced insolvency proceedings with a local court in
Munich, Germany, on January 23, 2009.  On June 15, 2009, QAG filed
a petition for relief under Chapter 15 of the Bankruptcy Code
(Bankr. E.D. Virginia Case No. 09-14766).

Qimonda North America Corp., an indirect and wholly owned
subsidiary of QAG, is the North American sales and marketing
subsidiary of QAG.  QNA is also the parent company of Qimonda
Richmond LLC.  QNA and QR filed for Chapter 11 on February 20
(Bankr. D. Del. Lead Case No. 09-10589).  Mark D. Collins, Esq.,
Michael J. Merchant, Esq., and Maris J. Finnegan, Esq., at
Richards Layton & Finger PA, represents the Debtors as counsel.
Roberta A. DeAngelis, the United States Trustee for Region 3,
appointed seven creditors to serve on an official committee of
unsecured creditors.  Jones Day and Ashby & Geddes represent the
Committee.  In its bankruptcy petition, Qimonda Richmond, LLC,
listed more than US$1 billion each in assets and debts.  The
information was based on Qimonda Richmond's financial records
which are maintained on a consolidated basis with Qimonda North
America Corp.


QUALITY DISTRIBUTION: S&P Cuts Corporate Credit Rating to 'SD'
--------------------------------------------------------------
Standard & Poor's Ratings Services lowered its long-term corporate
credit rating on Quality Distribution Inc. to 'SD' (selective
default) from 'CC'.  At the same time, S&P lowered the ratings on
subsidiary Quality Distribution LLC's senior unsecured and
subordinated debt issues to 'D' from 'C'.

"The rating actions follow the Tampa, Florida-based bulk tank
trucking company's announcement that its exchange and tender
offers have expired," said Standard & Poor's credit analyst Anita
Ogbara.  As of the expiration, 99.4% of the senior floating-rate
notes due 2012 (Series A), 100% of the senior floating-rate notes
due 2012 (Series B), and 83.6% of the subordinated notes were
validly tendered.  Quality Distribution has also successfully
obtained the consent solicitation it was seeking from its
noteholders relating to the subordinated notes.  The amendments
will eliminate or waive restrictive covenants and certain default
events, and modify covenants regarding mergers and consolidations
and other provisions in the indentures.  The company also
announced the sale of Quala Systems Inc. a tank wash subsidiary,
raising total proceeds of $13 million.

"On review of the new capital structure and liquidity position,
S&P will assign a new corporate credit rating, representing the
default risk, post-financial-restructuring," she continued.


QUECHAN TRIBE: Fitch Assigns 'CCC' Issuer Default Ratings
---------------------------------------------------------
The ratings assigned to the Quechan Tribe of the Fort Yuma Indian
Reservation have been placed on Rating Watch Negative following
Fitch's assessment of the credit implications of recent
developments.  Fitch rates Quechan:

  -- Issuer rating 'CCC';

  -- $30 million governmental project bonds series 2007 (tax-
     exempt) 'CCC';

  -- $110 million gaming enterprise revenue bonds series 2008
     'B-'.

The 'CCC' issuer rating incorporates Fitch's view that significant
challenges remain in successfully ramping up operation of the
recently opened Quechan Casino Resort against the back drop of
strained regional economic conditions in the Yuma gaming market.

The ratings were placed on Watch Negative as a result of these
developments:

  -- Weak third quarter (3Q'09) operating results at QCR raise
     concern about the outlook for the property's performance
     during the upcoming winter 2010 season;

  -- Fitch believes that the credit could be in violation of the
     debt service coverage financial maintenance covenant in the
     gaming revenue bond indenture as of the Sept. 30, 2009 test
     date, depending upon the interpretation of the language in
     the indenture.

Potential For Violation Of Bond Financial Maintenance Covenants:

Fitch believes there is ambiguity in the gaming enterprise revenue
bond indenture with respect to the definition of annual debt
service that is used in the calculation of the debt service
coverage ratio for the purposes of compliance with a financial
maintenance covenant.  Bondholder approval of a technical
amendment would be required to cure the ambiguity in the indenture
language.  Specifically, it is unclear whether the calculation
must include principal amortization of balloon debt.  Based on the
current level of cash flow, the inclusion of balloon debt
principal could cause the credit to be in violation of the highest
DSCR trigger, which occurs at 1.75 times (x), depending upon the
interpretation of the language in the indenture.  The tribe is
required to certify to bondholders the DSCR for the Sept. 30, 2009
test date by Nov. 15, 2009.

Whenever coverage falls below 1.75x based upon the calculation on
a quarterly test date, the tribe must:

  -- Retain an independent management consultant;

  -- Adhere to a third party trustee controlled flow of funds with
     respect to the casino cash flow;

  -- Begin funding a debt service reserve from the casino cash
     flows, through the flow of funds, for the benefit of the
     gaming enterprise revenue bondholders.  The requirement for
     the reserve is equal to 10% of the amount of recourse debt
     outstanding (currently the requirement is $12.85 million), to
     be funded in 12 monthly installments through the trustee
     controlled flow of funds waterfall.

The last requirement is of the most significant concern.  Based on
current cash flow, if the tribe is required to fund the reserve,
Fitch believes it will have difficulty meeting all of its fixed
payment obligations, including debt service, while maintaining
current levels of funding for government services and per capita
distributions to members.

Tribal Government Liquidity Position Eroded By QCR Project Funding
Contribution:

The tribal government was required to contribute a significant
amount of equity in order to complete funding of construction of
the QCR project, resulting in an erosion of the tribal government
balance sheet.  While a portion of this equity contribution has
been reimbursed by external debt financing arranged after
completion of the project, liquidity at the tribal government
remains strained relative to the level of resources on hand at the
beginning of construction.  The terms of the debt agreements limit
the tribe's ability to secure additional external financing to
reimburse the tribal government balance sheet.  Specifically,
Fitch believes that the tribe has exhausted its capacity to issue
debt under the completion financing bucket of the gaming
enterprise revenue bond indenture, which permitted the incurrence
of up to $25 million in debt without demonstrating compliance with
the additional bond test.

The tribe was permitted to incur completion financing debt for the
purposes of funding the construction budget, and to reimburse the
tribal government for $8.3 million in cash contributed to the QCR
project fund to cure a deficiency during construction.  The tribe
was able to borrow $18.5 million in the form of loans from other
tribal governments for these purposes.  The loans rank on parity
with the gaming enterprise bonds with respect to the lenders'
security interest in the casino cash flow.  Issuance of the
remaining $6.5 million in completion financing capacity would
require approval of the gaming enterprise bondholders and the
lenders of the loans, which Fitch believes they are unlikely to
grant.  Therefore, issuance of additional recourse debt (defined
as debt secured by the casino assets, including cash flow), will
require compliance with the ABT (pro forma debt service coverage
of at least 2.25x and pro forma leverage of no greater than
3.75x), which the tribe cannot demonstrate on the basis of current
cash flows.

Since Quechan's ability to issue additional debt to reimburse
tribal government equity is limited by its debt agreements, casino
free cash flow after meeting fixed expense at the gaming
operation, including debt service charges, is the primary means of
supporting governmental services and restoring liquidity to the
tribal government balance sheet.  Although reliance on casino cash
flow for economic support of the government is not atypical for a
tribe with a gaming operation, there is concern when the liquidity
cushion at the tribal government is eroded.  With limited
alternative means to support governmental expenses, generation of
sufficient positive free cash flow of the casino operation is
critical to avoid potential cuts to government service levels and
per capita distributions to members.

Casino Cash Flow Outlook; Significant Operational Ramp Up Risk Of
QCR Project Remains:

The primary risk in Quechan's casino cash flow outlook is the
ability to successfully ramp up operation of the QCR project in a
very challenging economic environment.  The project is located in
the Yuma regional gaming market, and operating trends at Quechan's
casinos began to show the impact of the economic recession in mid-
2007, during the construction of QCR.  In 2008, Quechan's two
casino properties posted full year revenue and EBITDA declines of
7.4% and 17.5%.  QCR opened on Feb.  14, 2009; upon opening,
Quechan's former California casino property was closed, while the
Arizona casino property remains in operation.  In a regional
gaming market that exhibits a great degree of operational
seasonality, initial results at QCR benefited from opening during
the winter season, but based on LTM Sept. 30, 2009 results, the
property is performing significantly below Fitch's base case
EBITDA expectations and in-line with its stress case expectations.
For the first nine months of 2009, representing seven and a half
months of operation of QCR, EBITDA was flat versus the prior year
period on the basis of a 17% increase in revenue offset by
compression in the EBITDA operating margin to 41% from 48%.

The Yuma regional economy has performed worse than the broader
U.S. economy during this economic recession on the basis of
employment and income trends.  A great degree of seasonality in
Quechan's casino operating trends is the result of a large influx
of retirees during the winter months, when the local population
swells.  In past years EBITDA during the March quarter typically
contributed over 40% of full year EBITDA.  Soft operating results
during the high season in 2008 and 2009 were reportedly the result
of the snowbird population arriving in the region later than in
past years.  On the basis of its operating outlook for
California's regional gaming markets, Fitch expects poor economic
conditions to again impact results at Quechan's casinos during the
upcoming winter 2010 season.

Despite the initial performance of QCR tracking below
expectations, Fitch believes that over the longer term and
assuming recovery of regional economic conditions, the Yuma gaming
market holds good depth and potential.  However, there is
significant execution risk, as Fitch believes that success of the
QCR property depends upon management's ability to grow the market
by attracting a new player population to the QCR property while
maintaining the attractiveness of the Arizona facility to the
local player population.  This will require successful execution
of a well designed marketing and branding plan, as well as
strategic use of the hotel property at QCR.  Since the opening of
the property in February, there have been senior level management
changes, including replacement of the general manager at the
property.  Several senior level management positions are currently
unfilled, and the tribe is interviewing candidates.

On the positive side, the credit's liquidity profile benefits from
lack of near term debt refinancing risk and, since the completion
of QCR, no project development financing risk.  Coverage of all
interest expense (including the government project bonds and
tribal loan), from casino EBITDA equaled about 1.5x based on LTM
Sept. 30, 2009 results.  Quechan is required to make monthly
sinking fund payments of principal and interest on the gaming
enterprise bonds, governmental project bonds and the loans.
Principal payment on the loans begins in 2010, but is nominal
through final maturity in 2015, when both have a sizeable bullet
maturity.  Principal payments on both series of bonds begins in
2012 and is level through final maturity.  The first significant
debt maturity occurs in 2013, when the casino is required to re-
pay the Quechan government $25 million of contributed equity that
was structured as a loan to the casino operation.  This piece of
debt is subordinate in right of payment to the bonds and the
loans.  Fitch expects that the Quechan government will extend the
maturity if the casino cannot refinance or cash fund the principal
payment.

Recent Changes To Capital Structure, Governmental Project Bond
Indenture Covenant Amendment Are Credit Neutral Events:

Prior to recent changes, Quechan's capital structure included
these pieces of debt:

  -- Gaming enterprise revenue bonds ($110 million);

  -- A loan from another tribal government ($13.5 million);

  -- Governmental project bonds ($45 million);

  -- An interfund loan from the Quechan tribal government
     ($30 million).

Recent Changes Include:

  -- An additional loan from another tribal government
     ($5 million), the proceeds will reduce the outstanding
     balance on the interfund loan to $25 million from
     $30 million;

  -- Repurchase of $15 million of the governmental project bonds
     at a discount of 15%, for $12.8 million in cash.  Of the
     $45 million initially issued, $30 million in governmental
     project bonds remain outstanding.

On a cash flow basis, the impact of these changes is mildly
positive; Fitch estimates that annual interest expense is reduced
by about $675,000, representing approximately a 2.8% reduction.
Fitch has determined that the repurchase of a portion of the
governmental project bonds at a discount to par does not
constitute a coercive debt exchange, as the transaction was not
coercive or de facto involuntary on the part of bondholders, since
it was not precipitated by an impending liquidity crisis.  Fitch
does not believe there was explicit threat of bond payment default
or covenant violation in the absence of the transaction.

The tribe used unspent governmental project bond proceeds to
repurchase the debt; the proceeds had been intended to be used to
construct a traffic mitigation project at the QCR property as a
condition of the tribe's gaming compact with the state of
California.  According to Quechan management, the state has
determined that the tribe does not need to complete the project at
this time in order to comply with the terms of the compact.
However, the state will continue to conduct traffic studies and
there is no guarantee that the tribe will not be required to
construct the project at some point in the future should it be
determined that traffic mitigation is necessary at the site.

In conjunction with the repurchase of the governmental project
bonds, the tribe and bondholders agreed to an amendment of the
governmental project bond indenture's liquidity maintenance
covenant.  The covenant previously allowed the tribal government
to include receivables from the casino as part of the unrestricted
net asset balance, which was required to equal 125% of the
outstanding par amount of the governmental project bonds, tested
on a quarterly basis.  Since the beginning of construction of the
QCR project, the quality of the unrestricted assets used to
demonstrate compliance with the test deteriorated as the amount of
casino receivables increased due to the contribution of equity to
the project.  At its highest point 58% of the unrestricted asset
balance was comprised of receivables from the casino, up from only
6.6% at the time of the bond issuance.

The revised covenant requires the tribe to maintain a certain
ratio of adjusted liquid net assets to tribal long-term debt.
Liquid assets can include only unrestricted cash, cash equivalents
and marketable securities of the tribal government and therefore
cannot include any portion of the receivables balance.  Tribal
long-term debt excludes debt secured by the casino cash flow and
includes only the governmental project bonds at this time.  The
ratio is tested quarterly; beginning with the quarter ended
Sept. 30, 2009, the ratio cannot be less than 0.6 to 1.0.  The
required ratio to demonstrate compliance with the test steps up
quarterly by 0.05 thereafter, through the quarter ended June 30,
2010, when it cannot be less than 0.75 to 1.0.  Based on the
June 30, 2009 tribal government balance sheet, the ratio was 0.73
to 1.0.

Potential Rating And Outlook Drivers:

Operating performance during the upcoming winter 2010 season will
be critical in determining the direction of the rating due to the
high degree of seasonality in the Yuma gaming market.  Fitch
expects top line revenue trends will continue to be negatively
impacted by the poor condition of the regional economy, posing a
significant challenge for the new senior management team.
However, Fitch believes there is significant operational upside
potential related to the improvements that are planned by new
senior management.  Resolution of the Negative Watch will depend
upon the casino operation generating sufficiently positive free
cash flow to continue funding all of its fixed obligations, while
also avoiding significant cuts to government service levels and
per capita distributions.

Conversely, a downgrade to 'CC' could be precipitated by a
liquidity crisis if cash flows deteriorate to a level where it is
probable that tribe will not be able to continue to meet its fixed
payment obligations.  This may occur in the near term if the tribe
is required to begin funding the gaming enterprise revenue bond
debt service reserve if it is determined that based upon the
interpretation of the indenture language the coverage ratio is
below 1.75x as of the Sept. 30, 2009 or Dec. 31, 2009 test date,
and the tribe is unable to obtain approval for a technical
amendment of the indenture from bondholders.  If that event does
not occur, the next significant inflection point for the credit
will be operating performance during 1Q'10.

The gaming enterprise bonds are rated one notch above the issuer
rating due to security provisions included in the bond indenture,
in accordance with Fitch's published criteria for Native American
gaming issuers.  The governmental project bonds are rated on par
with the issuer rating, because they are unsecured relative to the
gaming bonds.  The gaming enterprise bondholders have a security
interest in the casino cash flows, while the governmental project
bonds are non-recourse to the casino assets, including the cash
flows.


R.H. DONNELLEY: Committee Members Seek to Trade In Claims
---------------------------------------------------------
The Official Committee of Unsecured Creditors of R.H. Donnelley
Corp. and its units asks the Court for authority to trade in the
Debtors' securities and bank debt upon the establishment and
implementation of "ethical walls".

Specifically, the Committee wants the Court to determine that
Committee members will neither violate their duties nor otherwise
subject their claims to possible disallowance by trading:

   (i) stock, notes, bonds, debentures, participations in, or
       derivatives based on or relating to, any of the Debtors
       or their non-debtor affiliates, debt obligations or
       equity interests;

  (ii) any other claims against or interests in anyone or more
       members of the Debtors or their non-debtor affiliates
       that constitute "securities" within the meaning of
       applicable state or federal securities laws or both; or

(iii) loan obligations of the Debtors under any of their
       secured credit facilities as long as they establish and
       effectively implement an "ethical wall" to prevent the
       misuse of any material nonpublic information that may be
       obtained as a result of performance of Committee-related
       activities.

The Committee proposes that these procedures be employed if any
member of the Committee wishes to trade in Securities or Bank
Debt:

  (1) Each Committee member wishing to trade will cause a
      personnel designated to receive nonpublic Committee
      information to execute a letter acknowledging that they
      may receive nonpublic information and that they are aware
      of, and agree to comply with, the Ethical Wall procedures
      which are in effect with respect to the Securities or Bank
      Debt.  The Member will provide a copy of the letter to the
      Committee's legal counsel and the United States Trustee;

  (2) The Committee Personnel will not share material nonpublic
      Committee information with other employees, however,
      the Information may be shared with:

         a. senior management who, due to their duties and
            responsibilities, have a legitimate need to know the
            Information, provided that the individuals use the
            Information only in connection with their senior
            managerial responsibilities; and

         b. regulators, auditors, consultants, advisors and
            legal and compliance personnel, and to the extent
            that the Information may be accessible by internal
            computer systems, administrative personnel who
            service and maintain the systems, each of whom will
            agree not to share Information with other employees
            and will keep the Information in files inaccessible
            to other employees, representatives and agents who
            are involved with trading or investment advisory
            activities with respect to the Trading Committee
            Member;

  (3) Trading Committee Member will take the steps necessary to
      restrict access to hard copy files containing Information
      of non-Committee Personnel.  Further, they will maintain
      separate phone numbers and facsimile lines for Committee
      Personnel;

  (4) Each Trading Committee Member will take the steps
      necessary to restrict the exchange of Information through
      electronic means between Committee Personnel and all non-
      Committee Personnel;

  (5) Committee Personnel will not receive any specific or
      detailed information regarding the Trading Committee
      Member's trades in the Securities or Bank Debt in advance
      of the trade execution.  Committee Personnel, however, may
      receive: (i) reports and communications showing purchases,
      sales and ownership of Securities or Bank Debt, but no
      more frequently than is customary or otherwise appropriate
      and (ii) the usual internal reports showing purchases and
      sales to the extent that the personnel would otherwise
      receive reports and communications in the ordinary course
      and the reports are not specifically prepared with respect
      to the Debtors;

  (6) Each Trading Committee Member's compliance personnel will
      review trades to determine if there is any reason to
      believe that the trades were not made in compliance with
      the information blocking procedures; and

  (7) A Trading Committee Member, unless it resigns from the
      Committee, will provide written or electronic notice on a
      quarterly basis to the Committee's counsel and to the
      United States Trustee verifying review of, and continued
      compliance with, the terms of an order approving the
      "Equity Wall" and will disclose, as soon as is
      practicable, to the Committee's counsel and the United
      States Trustee any material breaches.

Mark E. Felger, Esq., at Cozen O'Connor, in Wilmington, Delaware,
notes that certain of the Committee Members are directly
themselves or are affiliated with investment advisors or managers
that provide investment-advisory services to institutional,
pension, and mutual funds, high net-worth clients and affiliated
funds and accounts and may also buy and sell Securities or Bank
Debt for their own portfolios.

Mr. Felger submits that although Committee Members owe fiduciary
duties to the creditors of the Debtors' estates, they also have
fiduciary duties to maximize returns to their clients through
trading in the Securities or Bank Debt.

"Thus, if a Committee Member is barred from trading in the
Securities or Bank Debt during the pendency of these cases
because of its duties to other creditors, it may risk the loss of
a beneficial investment opportunity for itself or its clients
and, moreover, may breach the aforesaid fiduciary duty to such
clients," Mr. Felger says.

Alternatively, if a Committee Member resigns from the Committee,
the interests it represented may be compromised by virtue of
taking a less active role in the reorganization process, Mr.
Felger says.  He adds that many institutions have faced the same
dilemma with respect to committee memberships in other Chapter 11
cases and to resolve the issue, bankruptcy courts have allowed
members of official committees to trade in the securities of a
debtor and its non-debtor affiliates while still serving as
committee members conditioned on the establishment of an "Ethical
Wall."

                       About R.H. Donnelley

Based in Cary, North Carolina, R.H. Donnelley Corp., fka The Dun
& Bradstreet Corp. (NYSE: RHD) -- http://www.rhdonnelley.com/--
publishes and distributes print and online directories in the
U.S.  It offers print directory advertising products, such as
yellow pages and white pages directories.  R.H. Donnelley Inc.,
Dex Media, Inc. and Local Launch, Inc. are the company's only
direct wholly owned subsidiaries.

Dex Media East, LLC, is a publisher of the official yellow pages
and white pages directories for Qwest Communications International
Inc. (Qwest) in the states, where Qwest is the primary incumbent
local exchange carrier, such as Colorado, Iowa, Minnesota,
Nebraska, New Mexico, North Dakota and South Dakota.

R.H. Donnelley Corp. and 19 of its affiliates, including Dex
Media East LLC, Dex Media West LLC and Dex Media Inc., filed for
Chapter 11 protection on May 28, 2009 (Bank. D. Del. Case No. 09-
11833 through 09-11852), after missing a $55 million interest
payment on its senior unsecured notes due April 15.  James F.
Conlan, Esq., Larry J. Nyhan, Esq., Jeffrey C. Steen, Esq.,
Jeffrey E. Bjork, Esq., and Peter K. Booth, Esq., at Sidley Austin
LLP, in Chicago, Illinois represent the Debtors in their
restructuring efforts.  Edmon L. Morton, Esq., and Robert S.
Brady, Esq., at Young, Conaway, Stargatt & Taylor LLP, in
Wilmington, Delaware, serve as the Debtors' local counsel.  The
Debtors' financial advisor is Deloitte Financial Advisory Services
LLP while its investment banker is Lazard Freres & Co. LLC.  The
Garden City Group, Inc., is claims and noticing agent.

As of March 31, 2009, the Company had $929,829,000 in total
assets and $1,023,526,000 in total liabilities, resulting in
$93,697,000 in total shareholders' deficit.

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


R.H. DONNELLEY: Ex-Employees Want to Examine Dex Media
------------------------------------------------------
Betty Blackford, Valerie Calhoun, Richard Mitchell and Vern
Veggeberg on April 11, 2007, commenced a proceeding against
Debtor Dex Media, Inc., by filing a complaint in the United
States District Court for the District of Colorado alleging
violations of the Age Discrimination in Employment Act and Title
VII of the Civil Rights Act of 1964 in multiple counts.

The District Court Action remained active right up until a notice
of automatic stay was entered on June 17, 2009, notifying the
Litigants of the Debtors' pending bankruptcy case.

Prior to the Notice of Automatic Stay, trial in the District
Court Action was scheduled to occur on November 9, 2009.

Margaret M. Manning, Esq., at Whiteford Taylor & Preston LLC, in
Wilmington, Delaware, tells the Court that the Debtor holds an
Employment Practices liability insurance policy with National
Union Fire Insurance Company of Pittsburgh, Pennsylvania.

The Policy is a "claims first made and reported" policy with a
policy period from November 1, 2005 through November 1, 2006 and
an aggregate liability level of $10,000,000, subject to a
retention of $250,000.

As previously reported, the Litigants filed a request to lift the
automatic stay so that they can liquidate their claims against
the Debtor in the District Court Action and to permit them to
seek enforcement of any judgment against the Policy.

Ms. Manning says the Litigants and the Debtor's counsels
corresponded on several occasions in attempts to reach a
consensual resolution of the Motion for Relief and during their
conversations and e-mail exchanges, the Litigants' counsel asked
from Debtors' counsel the identification of the person or persons
who could best speak to certain facts about the Policy, including
any other claims that were filed against the Policy and the
Debtor's valuation of those claims.  However, to date, the
identifications are not made.

The Litigants' counsel made another identification request but no
individual was identified.

Ms. Manning contends that the Litigants are entitled to the
information and feel that they have exhausted all options.

For these reasons, the Litigants ask the Court to compel the
Debtors to provide the information pursuant to Rule 2004 of the
Federal Rules of Bankruptcy Procedure.

In a separate filing, the Litigants ask the Court to hear their
request at the Court's earliest convenience.

                       About R.H. Donnelley

Based in Cary, North Carolina, R.H. Donnelley Corp., fka The Dun
& Bradstreet Corp. (NYSE: RHD) -- http://www.rhdonnelley.com/--
publishes and distributes print and online directories in the
U.S.  It offers print directory advertising products, such as
yellow pages and white pages directories.  R.H. Donnelley Inc.,
Dex Media, Inc. and Local Launch, Inc. are the company's only
direct wholly owned subsidiaries.

Dex Media East, LLC, is a publisher of the official yellow pages
and white pages directories for Qwest Communications International
Inc. (Qwest) in the states, where Qwest is the primary incumbent
local exchange carrier, such as Colorado, Iowa, Minnesota,
Nebraska, New Mexico, North Dakota and South Dakota.

R.H. Donnelley Corp. and 19 of its affiliates, including Dex
Media East LLC, Dex Media West LLC and Dex Media Inc., filed for
Chapter 11 protection on May 28, 2009 (Bank. D. Del. Case No. 09-
11833 through 09-11852), after missing a $55 million interest
payment on its senior unsecured notes due April 15.  James F.
Conlan, Esq., Larry J. Nyhan, Esq., Jeffrey C. Steen, Esq.,
Jeffrey E. Bjork, Esq., and Peter K. Booth, Esq., at Sidley Austin
LLP, in Chicago, Illinois represent the Debtors in their
restructuring efforts.  Edmon L. Morton, Esq., and Robert S.
Brady, Esq., at Young, Conaway, Stargatt & Taylor LLP, in
Wilmington, Delaware, serve as the Debtors' local counsel.  The
Debtors' financial advisor is Deloitte Financial Advisory Services
LLP while its investment banker is Lazard Freres & Co. LLC.  The
Garden City Group, Inc., is claims and noticing agent.

As of March 31, 2009, the Company had $929,829,000 in total
assets and $1,023,526,000 in total liabilities, resulting in
$93,697,000 in total shareholders' deficit.

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


R.H. DONNELLEY: Gets Court Nod for Business.Com Incentive Plan
--------------------------------------------------------------
Judge Kevin Gross of the United States Bankruptcy Court for the
District of Delaware has authorized the Debtors to institute a
short-term incentive plan for debtor affiliate Business.Com,
Inc., for 2009.

In a separate order, the Judge authorized the Debtors to file the
exhibits of the Incentive Plan under seal.

In the Debtors' request for approval of the incentive plan, James
F. Conlan, Esq., at Sidley Austin LLP, in Chicago, Illinois, noted
that Business.Com depends its success on approximately 140
employees, whose specialized knowledge, creativity, and
understanding of the business made the Debtor's successes
possible.

To motivate the Employees to reach the highest levels of
performance, Business.Com historically has utilized two types of
incentive plans, one individual based and one corporate based.

The individual plan, with quarterly payouts and individual
performance metrics, remains in effect, Mr. Conlan tells the
Court.  He adds that a certain corporate-based "Company
Performance Plan," however, has lost all capacity to motivate the
employees.  The CPP utilizes for 2009 BDC and RHD Interactive
corporate revenue and EBITDA targets that were set in the middle
of 2007.  However, he says that the severe economic downturn and
changes in the strategic role and operations of Business.Com,
have rendered the targets completely unattainable.

Recognizing that without the possibility of earning any
incentives associated with the CPP goals and targets established
in 2007, compensation for the Debtor's employees in 2009 would
fall far below the median for comparable-sized software and
technology companies and the Debtors' stated compensation
philosophy, Mr. Conlan says.

In early 2009 RHD retained compensation consultant Semler Brossy
Consulting Group, LLC, to provide an independent assessment of
market norms and to assist RHD in designing and evaluating the
reasonableness and competitiveness of a new incentive
compensation program to update and improve Business.Com's current
compensation system, Mr. Conlan tells the Court.  Together, the
Debtors and Semler Brossy developed and announced a series of
2009 business goals for the Debtor that involved a mix of revenue
and operational targets and the achievement of specific
development projects.

Mr. Conlan says attainment of the goals was to have been tied
into a new 2009 short-term incentive plan.  However, before the
new STIP could be finalized and implemented in early 2009, the
pertinent Debtor executives were forced to turn their attention
to the events that culminated in the Debtors seeking bankruptcy
protection and their ensuing operation in bankruptcy.
Consequently, BDC employees were left without a viable corporate
performance incentive plan.

                       About R.H. Donnelley

Based in Cary, North Carolina, R.H. Donnelley Corp., fka The Dun
& Bradstreet Corp. (NYSE: RHD) -- http://www.rhdonnelley.com/--
publishes and distributes print and online directories in the
U.S.  It offers print directory advertising products, such as
yellow pages and white pages directories.  R.H. Donnelley Inc.,
Dex Media, Inc. and Local Launch, Inc. are the company's only
direct wholly owned subsidiaries.

Dex Media East, LLC, is a publisher of the official yellow pages
and white pages directories for Qwest Communications International
Inc. (Qwest) in the states, where Qwest is the primary incumbent
local exchange carrier, such as Colorado, Iowa, Minnesota,
Nebraska, New Mexico, North Dakota and South Dakota.

R.H. Donnelley Corp. and 19 of its affiliates, including Dex
Media East LLC, Dex Media West LLC and Dex Media Inc., filed for
Chapter 11 protection on May 28, 2009 (Bank. D. Del. Case No. 09-
11833 through 09-11852), after missing a $55 million interest
payment on its senior unsecured notes due April 15.  James F.
Conlan, Esq., Larry J. Nyhan, Esq., Jeffrey C. Steen, Esq.,
Jeffrey E. Bjork, Esq., and Peter K. Booth, Esq., at Sidley Austin
LLP, in Chicago, Illinois represent the Debtors in their
restructuring efforts.  Edmon L. Morton, Esq., and Robert S.
Brady, Esq., at Young, Conaway, Stargatt & Taylor LLP, in
Wilmington, Delaware, serve as the Debtors' local counsel.  The
Debtors' financial advisor is Deloitte Financial Advisory Services
LLP while its investment banker is Lazard Freres & Co. LLC.  The
Garden City Group, Inc., is claims and noticing agent.

As of March 31, 2009, the Company had $929,829,000 in total
assets and $1,023,526,000 in total liabilities, resulting in
$93,697,000 in total shareholders' deficit.

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


RAINBOWS UNITED: Investment Group Offers $1MM for Building
----------------------------------------------------------
Josh Heck at Wichita Business Journal reports that an investment
group has offered to buy the Rainbows United Inc. building at 340
S. Broadway for $1 million.

According to Business Journal, Rainbows United isn't disclosing
who the group of investors are, saying only the group is
"supportive of the contribution that the organization makes to the
community."  Business Journal relates that the investment group
will lease the building to Rainbows United for $1 a month for five
years, while the Company will be responsible for utilities and
property taxes.  Rainbows United will be able to rent out unused
space in the building, as its administrative staff will stay on
second floor of the building, says the report.

The report states that Rainbows United will also be selling its
Ritchie Family Center at 251 S. Whittier.

Headquartered in Wichita, Kansas, Rainbows United, Inc. --
http://www.rainbowsunited.org/-- is a Wichita nonprofit agency
that serves children with special needs and their families.
Rainbows United serves more than 2,600 children aged birth through
5, including more than 2,300 with special needs.  The
organization, which has 435 full- and part- time employees, serves
primarily Sedgwick and Butler counties.

Rainbows United filed for Chapter 11 bankruptcy protection on
July 30, 2009 (Bankr. D. Kan. Case No. 09-12457).  Edward J.
Nazar, Esq., at Redmond & Nazar, L.L.P., assists the Company in
its restructuring efforts.  In its petition, the Debtor listed
$10,000,001 to $50,000,000 in assets and $1,000,001 to $10,000,000
in debts.


READER'S DIGEST: Court Sets November 16 Bar Date
------------------------------------------------
Bankruptcy Judge Robert Drain has granted The Reader's Digest
Inc.'s request and set:

  (a) November 16, 2009, as the deadline by which all persons
      and entities must file and serve proofs of claim asserting
      claims that arose on or prior to the Petition Date,
      including claims asserted under Section 503(b)(9) of the
      Bankruptcy Code against the Debtors in the Chapter 11
      cases; and

  (b) set February 20, 2010, as the deadline by which all
      governmental units must file and serve proofs of claim
      asserting claims against the Debtors.

The Court also approved the Debtors' procedures for filing proofs
of claim and the form of notice of the Bar Dates and manner of
service.

Pursuant to Rule 3003(c)(2) of the Federal Rules of Bankruptcy
Procedure, any holder of a claim that is not excepted from the
requirements of the Bar Date Order that fails to comply with the
Bar Date Order by timely filing a proof of claim in the
appropriate form will be barred from (i) asserting the claim
against the Debtors and their bankruptcy estates, (ii) voting on
any Chapter 11 plan of reorganization filed in the bankruptcy
cases on account of that claim, and (c) participating in any
distribution in the cases on account of that claim.

Nothing in the Bar Date Order will prejudice the right of the
Debtors or any other party-in-interest to dispute or assert
offsets or defenses to any claim reflected in the Debtors'
schedules of assets and liabilities, and schedules of executory
contracts and unexpired leases.

Entry of the Bar Date Order is without prejudice to the right of
the Debtors to seek further Court order fixing a date by which
holders of claims or interests not subject to the Claims Bar Date
must file proofs of claim or interest or be barred from doing so.

               About The Reader's Digest Association

RDA is a global multi-brand media and marketing company that
educates, entertains and connects audiences around the world.  The
company builds multi-platform communities based on branded
content.  With offices in 44 countries, it markets books,
magazines, and music, video and educational products reaching a
customer base of 130 million in 78 countries.  It publishes 94
magazines, including 50 editions of Reader's Digest, the world's
largest-circulation magazine, operates 65 branded Web sites
generating 22 million unique visitors per month, and sells
40 million books, music and video products across the world each
year.  Its global headquarters are in Pleasantville, N.Y.

Reader's Digest said that as of June 30, 2009, it had total assets
of $2.2 billion against total debts of $3.4 billion.

Reader's Digest, together with its 47 affiliates, filed for
Chapter 11 on August 24 (Bankr. S.D.N.Y. Case No. 09-23529).
Kirkland & Ellis LLP has been engaged as general restructuring
counsel.  Mallet-Prevost, Colt & Mosle LLP has been tapped as
conflicts counsel.  Ernst & Young LLP is auditor.  Miller Buckfire
& Co, LLC, is financial advisor.  AlixPartners, LLC, is
restructuring consultant.  Kurtzman Carson Consultants is notice
and claims agent.

The Official Committee of Unsecured Creditors is tapping BDO
Seidman, LLP, as financial advisor, Trenwith Securities, LLP, as
investment banker and Otterbourg, Steindler, Houston & Rosen,
P.C., as counsel.

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


READER'S DIGEST: Proposes to Assume 29 Executory Contracts
----------------------------------------------------------
The Reader's Digest Association, Inc., and certain of its debtor
affiliates seek the Court's authority to assume certain executory
contracts and cure any prepetition defaults arising under those
contracts.

A schedule of the Assumed Contracts is available for free
at http://bankrupt.com/misc/RDA_Assume_Contracts_100609.pdf

According to James H.M. Sprayregen P.C., Esq., at Kirkland & Ellis
LLP, in New York, the goods and services the Debtors obtain
pursuant to the Assumed Contracts relate generally to order
fulfillment and processing, marketing and advertising, inbound and
outbound customer care, warehousing and distribution, licensing
and Web site design, hosting and maintenance.

Mr. Sprayregen adds that the Debtors have productive business
relationships pursuant to which the Debtors receive critical goods
and services essential to the Debtors' business processes and
ongoing operations.  For many of the Contract Parties, the
business relationships are long-standing and, therefore, would be
exceptionally difficult to replace in the event of termination,
rejection or non-renewal upon the natural expiration of the
Contract by the Contract Party, he says.

He adds that the Debtors have also obtained substantial
concessions with the Contract Parties in exchange for the early
assumption of the Contracts.  Those concessions come in the form
of reduced cure, and in some instances, improved contract terms.

The Debtors anticipate paying $11,492,342 as cure to the Contract
Parties.  Mr. Sprayregen says the original aggregate cure amount
that would be owed to the Contract Counterparties to assume the
Contracts under a Chapter 11 plan is $12,765,170 but because of
the Debtors' early assumption of the Contracts, the Contract
Parties agreed to reduce the cure amounts to a total of
$1,272,828.

These Contract Parties will be paid:

  Counterparty                        Cure Amount
  ------------                        -----------
  Advantage Computing Systems             $14,203
  American Customer Care                  276,942
  Artgig                                   24,800
  Bookworks, LLC                           35,431
  Bowzer, Inc.                             22,874
  Bowzer, Inc.                                 --
  CDS Global, Inc.                      7,398,374
  CDS Global, Inc.                      7,398,374
  CDS Global, Inc.                      7,398,374
  CDS Global, Inc.                      7,398,374
  Demand Software                          18,974
  Dial America                            476,754
  Digital Target Marketing                     --
  Digital Target Marketing                318,568
  Direct Link Marketing                    60,105
  I-Fox (Infocrossing, Inc.)              780,002
  Ignite Media Solutions                  255,961
  Ignite Media Solutions                  397,362
  Ignite Media Solutions                   62,042
  Ignite Media Solutions                    5,535
  Ignite Media Solutions                       --
  Joe Sasfy                               134,321
  Michael Cassavitis (Tony Orlando)        19,623
  Michael Cassavitis (Tony Orlando)            --
  Moulton Logistics Management            567,851
  Symphony Services                        91,720
  West Direct, Inc.                       530,902
  West Direct, Inc.                       530,902
  West Telemarketing, LP                  530,902

               About The Reader's Digest Association

RDA is a global multi-brand media and marketing company that
educates, entertains and connects audiences around the world.  The
company builds multi-platform communities based on branded
content.  With offices in 44 countries, it markets books,
magazines, and music, video and educational products reaching a
customer base of 130 million in 78 countries.  It publishes 94
magazines, including 50 editions of Reader's Digest, the world's
largest-circulation magazine, operates 65 branded Web sites
generating 22 million unique visitors per month, and sells
40 million books, music and video products across the world each
year.  Its global headquarters are in Pleasantville, N.Y.

Reader's Digest said that as of June 30, 2009, it had total assets
of $2.2 billion against total debts of $3.4 billion.

Reader's Digest, together with its 47 affiliates, filed for
Chapter 11 on August 24 (Bankr. S.D.N.Y. Case No. 09-23529).
Kirkland & Ellis LLP has been engaged as general restructuring
counsel.  Mallet-Prevost, Colt & Mosle LLP has been tapped as
conflicts counsel.  Ernst & Young LLP is auditor.  Miller Buckfire
& Co, LLC, is financial advisor.  AlixPartners, LLC, is
restructuring consultant.  Kurtzman Carson Consultants is notice
and claims agent.

The Official Committee of Unsecured Creditors is tapping BDO
Seidman, LLP, as financial advisor, Trenwith Securities, LLP, as
investment banker and Otterbourg, Steindler, Houston & Rosen,
P.C., as counsel.

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


READER'S DIGEST: U.S. Trustee Adds Four to Creditors' Panel
-----------------------------------------------------------
Diana G. Adams, United States Trustee for Region 2, notifies the
Court and parties-in-interest that she amends her appointment of
the members to the Official Committee of Unsecured Creditors in
the Debtors' Chapter 11 cases to include four new members:

   (1) Michael John Bohane
       1143 Casey Key Road
       Nokomis, Florida 34275
       Tel: (941) 484-3510

   (2) Peter Davenport
       10 Tall Timber Road
       Mt. Kisco, New York 10549
       Tel: (914) 666-8268
       Fax: (914) 666-9450

   (3) Ross Jones
       5 Driftwood Landing
       Gulf Stream, Florida 33483
       Tel: (561) 243-8634
       Fax: (561) 272-5082

   (4) HCL Technologies Ltd.
       A-11, Sector-16
       Noida - 201301, UP, India
       Attn: Vineet Vij, Head-Corporate Legal
       Tel: +91-120-4383006

The other original seven members of the Creditors Committee are:

   (5) The Bank of New York Mellon
       101 Barclay Street - 8 West
       New York, New York 10286
       Attention: Stuart Rothenberg, Vice President
       Telephone: (212) 298-1977
       Fax: (212) 815-5704

   (6) Wilfrid Aubrey LLC
       100 William Street, Suite 1850
       New York, New York 10038
       Attention: Nicholas W. Walsh, Principal
       Telephone: (212) 675-4906
       Fax: (212) 675-3626

   (7) Thomas M. Kenney
       10 The Byway
       Bronxville, New York 10708
       Telephone: (914) 395-0060
       Fax: (914) 395-0060

   (8) RR Donnelley & Sons Company
       3075 Highland Parkway
       Downers Grove, Illinois 60515
       Attention: Dan Pevonka, Director, Credit Services
       Telephone: (630) 322-6931
       Fax: (630) 322-6052

   (9) Madison Paper Company (ALSIP Location)
       Myllykoski North America
       101 Merritt 7 - 5th Floor
       Norwalk, Connecticut 06851
       Attention: Brendan Lesch, Vice President
       Telephone: (203) 229-7414
       Fax: (203) 229-7458

  (10) Williams Lea, Inc.
       233 South Wacker, Suite 4850
       Chicago, Illinois 60606
       Attention: Ken Amann, Chief Financial Officer
       Telephone: (312) 681-6459
       Fax: (312) 681-6350

  (11) New Page Corporation
       Courthouse Plaza NE
       Dayton, Ohio 45463
       Attention: Greg Hadley, Esq.
       Telephone: (937) 242-9569
       Fax: (937) 608-7012

               About The Reader's Digest Association

RDA is a global multi-brand media and marketing company that
educates, entertains and connects audiences around the world.  The
company builds multi-platform communities based on branded
content.  With offices in 44 countries, it markets books,
magazines, and music, video and educational products reaching a
customer base of 130 million in 78 countries.  It publishes 94
magazines, including 50 editions of Reader's Digest, the world's
largest-circulation magazine, operates 65 branded Web sites
generating 22 million unique visitors per month, and sells
40 million books, music and video products across the world each
year.  Its global headquarters are in Pleasantville, N.Y.

Reader's Digest said that as of June 30, 2009, it had total assets
of $2.2 billion against total debts of $3.4 billion.

Reader's Digest, together with its 47 affiliates, filed for
Chapter 11 on August 24 (Bankr. S.D.N.Y. Case No. 09-23529).
Kirkland & Ellis LLP has been engaged as general restructuring
counsel.  Mallet-Prevost, Colt & Mosle LLP has been tapped as
conflicts counsel.  Ernst & Young LLP is auditor.  Miller Buckfire
& Co, LLC, is financial advisor.  AlixPartners, LLC, is
restructuring consultant.  Kurtzman Carson Consultants is notice
and claims agent.

The Official Committee of Unsecured Creditors is tapping BDO
Seidman, LLP, as financial advisor, Trenwith Securities, LLP, as
investment banker and Otterbourg, Steindler, Houston & Rosen,
P.C., as counsel.

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


REALOGY CORP: Bank Debt Trades at 16% Off in Secondary Market
-------------------------------------------------------------
Participations in a syndicated loan under which Realogy
Corporation is a borrower traded in the secondary market at 84.17
cents-on-the-dollar during the week ended Oct. 16, 2009, according
to data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents an increase of 1.25 percentage
points from the previous week, The Journal relates.  The loan
matures on Sept. 30, 2013.  The Company pays 300 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 Oct. 16,
among the 158 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.


REPUBLIC WINDOWS: New Jackson Health CRO Linked to Fraud
--------------------------------------------------------
John Dorschner at Miami Herald reports that Barry Dubin, who was
selected as a chief restructuring officer for Jackson Health
System, has been allegedly involved in the Republic Windows and
Doors fraud.

Mr. Dubin was Republic Windows' chief operating officer for four
years, until the Company closed in December 2008.

Republic Windows CEO Richard Gillman was charged last month with
fraud for his alleged involvement in the scheme to bankrupt the
Republic Windows left 200 workers without jobs or severance,
although he was released from prison with ankle monitoring after
his bond was reduced by $5 million from $10 million.

According to Miami Herald, the Cook County State Attorney's office
alleged that Mr. Gillman with "Individual A, the chief operating
officer" and another unnamed manager "formulated and executed a
scheme to defraud Republic's debtors and its employees, enriching
themselves in the process."

Miami Herald relates that Jackson CEO Eneida Roldan has denied any
knowledge about the allegations against Mr. Gillman and later said
that she had "formally requested that Mr. Barry Dubin be removed
from the consulting team.  This is no reflection on his expertise,
but this has caused a distraction and we need to turn things
around quickly.  The hospital cannot afford this distraction."

Chicago, Illinois-based Republic Window and Doors --
http://www.republicwindows.com/-- manufactures custom-crafted
vinyl windows for new construction homebuilders, home improvement
dealers, and direct commercial accounts throughout the United
States.

As reported by the Troubled Company Reporter on Dec. 17, 2008,
Republic Windows and Doors said it filed for Chapter 7 liquidation
on Dec. 15, 2008, as a requirement of Bank of America in the
negotiated settlement with the United Electrical.


REVLON INC: MacAndrews & Forbes Discloses Equity Stake
------------------------------------------------------
MacAndrews & Forbes Holdings Inc. disclosed in a regulatory filing
with the Securities and Exchange Commission that it holds these
Revlon Inc. securities:

     (i) 29,503,048 shares of Revlon Class A Common Stock are
         beneficially owned by MacAndrews & Forbes or its wholly
         owned subsidiaries;

    (ii) 4,561,610 shares of Class A Common Stock are beneficially
         owned by Raymond G. Perelman (MacAndrews & Forbes may be
         deemed to beneficially own 4,561,610 shares of Class A
         Common Stock beneficially owned by Mr. Perelman because
         it holds an irrevocable voting proxy with respect to
         those shares;

   (iii) 323,500 shares of Revlon Class A Common Stock are held
         directly by Mr. Perelman;

    (iv) 7,718,092 shares of Revlon Class A Common Stock are owned
         by RCH Holdings One Inc., a holding company in which each
         of Mr. Perelman and The Ronald O. Perelman 2008 Trust own
         50% of the shares (Mr. Perelman may be deemed to
         beneficially own the 7,718,092 shares of Class A Common
         Stock beneficially owned by RCH Holdings One Inc. because
         Mr. Perelman has shared voting and dispositive power with
         respect to such shares; and

     (v) 62,500 shares of Revlon Class A Common Stock may be
         acquired by Mr. Perelman under vested stock options.

Mr. Perelman is the Chairman and Chief Executive Officer of
MacAndrews & Forbes Holdings.

MacAndrews & Forbes also beneficially owns all of the outstanding
3,125,000 shares of Class B Common Stock, each of which is
convertible into one share of Class A Common Stock.  The rights of
holders of shares of Class A Common Stock and Class B Common Stock
are substantially identical, except that the holders of Class B
Common Stock are entitled to 10 votes per share, while holders of
Class A Common Stock are entitled to one vote per share, on all
matters to be voted on by stockholders.

The total Common Stock ownership of the MacAndrews & Forbes
entities represents roughly 77.5% of the Class A Common Stock,
100% of the Class B Common Stock and roughly 77.3% of the combined
voting power of all of Revlon's outstanding equity securities as
of October 8, 2009 (assuming exercise of the 62,500 options held
by Mr. Perelman).

Revlon consummated an Exchange Offer on October 8, 2009, pursuant
to which it exchanged 9,336,905 shares of Class A Common Stock for
an equal number of shares of Series A Preferred Stock.  In
connection with the closing of the Exchange Offer, (i) MacAndrews
& Forbes contributed to Revlon $48,645,275.05 -- or $5.21 per
share of Class A Common Stock exchanged in the Exchange Offer --
of the aggregate outstanding principal amount of the Senior
Subordinated Term Loan between MacAndrews & Forbes and RCPC, for
each share of Class A Common Stock tendered for exchange in the
Exchange Offer, and not withdrawn, (ii) the maturity date of the
Contributed Loan was extended from August 1, 2010 to October 8,
2013 (the fourth anniversary of the consummation of the Exchange
Offer), and the interest rate on the Contributed Loan was changed
from 11% to 12.75% per annum and the maturity date of the Non-
Contributed Loan was extended from August 1, 2010 to October 8,
2014 (the fifth anniversary of the consummation of the Exchange
Offer) and the interest rate on the Non-Contributed Loan was
changed from 11% to 12% per annum, and, in consideration, (iii)
Revlon issued to MacAndrews & Forbes 9,336,905 shares of Class A
Common Stock in the aggregate, or one share of Class A Common
Stock for each share of Class A Common Stock tendered for
exchange, and not withdrawn, in the Exchange Offer and (iv) Revlon
and MacAndrews & Forbes entered into the Contribution and
Stockholder Agreement, RCPC and MacAndrews & Forbes entered into
the Senior Subordinated Term Loan Amendment and MacAndrews &
Forbes assigned to Revlon, and Revlon assumed, the rights and
obligations as lender under the Senior Subordinated Term Loan with
respect to the Contributed Loan.

                           About Revlon

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.


RITE AID: Fidelity Discloses 8.66% Equity Stake
-----------------------------------------------
Fidelity Management & Research Company in Boston, Massachusetts, a
wholly owned subsidiary of FMR LLC and an investment adviser
registered under Section 203 of the Investment Advisers Act of
1940, is the beneficial owner of 78,068,135 shares or 8.660% of
the Common Stock outstanding of Rite Aid Corporation as a result
of acting as investment adviser to various investment companies
registered under Section 8 of the Investment Company Act of 1940.

The number of Rite Aid shares owned by the investment companies at
September 30, 2009, included 13,104,606 shares of Common Stock
resulting from the assumed conversion of $33,918,000 principal
amount of RITE AID CORP CONV 8.5 5/15/15 (386.3614 shares of
Common Stock for each $1,000 principal amount of debenture).

Edward C. Johnson 3d and FMR LLC, through its control of Fidelity,
and the funds each has sole power to dispose of the 78,068,135
shares owned by the Funds.

Members of the family of Edward C. Johnson 3d, Chairman of FMR
LLC, are the predominant owners, directly or through trusts, of
Series B voting common shares of FMR LLC, representing 49% of the
voting power of FMR LLC.

                     About Rite Aid Corporation

Rite Aid Corporation (NYSE: RAD) -- http://www.riteaid.com/-- is
one of the nation's leading drugstore chains.  On September 26,
2009, the company operated 4,809 stores compared to 4,922 stores
in the like period a year ago.

At August 29, 2009, the Company had $8,052,678,000 in total assets
against $9,453,207,000 in total liabilities, resulting in
$1,400,529,000 in stockholders' deficit.

                           *     *     *

Rite Aid carries a 'Caa2' probability of default and corporate
family ratings from from Mody's, 'B-' issuer default rating from
Fitch, and 'B-' issuer credit ratings from Standard & Poor's.


RONALD LAYHER: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: Ronald E. Layher
        424 Country Path
        Sevierville, TN 37864

Bankruptcy Case No.: 09-52822

Chapter 11 Petition Date: October 14, 2009

Court: United States Bankruptcy Court
       Eastern District of Tennessee

Debtor's Counsel: Edward J. Shultz, Esq.
                  Ayres & Parkey
                  P.O. Box 23380
                  Knoxville, TN 37933
                  Tel: (865) 637-1181
                  Email: eshultz@ayreslaw.com

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

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

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

The petition was signed by Mr. Layher.


ROYAL HAWAIIAN: "Heartbeat Hawaii" Hurt by Poor Advertising
-----------------------------------------------------------
Ashley Nagaoka at KGMB9 News Hawaii reports that
Royal Hawaiian Showroom LLC director Dennis Law said that the
Company's "Heartbeat Hawaii" is struggling due to poor
advertising.

According to KGMB9, Mr. Law envisioned "Heartbeat Hawaii" becoming
an international hit, but he said that the showroom is only 10%
full during performances.  There isn't enough signs around the
Royal Hawaiian Shopping center marketing the show to visitors, the
report says, citing Mr. Law.  The report states that Mr. Law
requested to put more signage up, but the center told him it would
look too tacky.  "How do you run an entertainment complex, when
the landlord doesn't want any advertising? Nothing is visible and
seeable. It's just all money, flushed down the toilet," the report
quoted Mr. Law as saying.

Ticket sales have been terrible, and Royal Hawaiian's recent
filing for Chapter 11 bankruptcy isn't helping the situation,
KGMB9 relates, citing Mr. Law.

Honolulu, Hawaii-based Royal Hawaiian Showroom LLC is owned by
producer Roy Tokujo.  It is located in the Royal Hawaiian Center,
a Waikiki shopping complex owned by Kamehameha Schools, aka Bishop
Estate.  The Company filed for Chapter 11 bankruptcy protection on
October 6, 2009 (Bankr. D. Hawaii Case No. 09-02334).  Jerrold K.
Guben, Esq., at Reinwald O'Connor & Playdon assists the Company in
its restructuring efforts.  The Company listed $10,000,001 to
$50,000,000 in assets and $10,000,001 to $50,000,000 in
liabilities.


SAGECREST FINANCIAL: Judge Shiff Deciphers LLC Agreements
---------------------------------------------------------
WestLaw reports that the optional redemption provision of the
operating agreement of a Chapter 11 debtor-limited liability
company was ambiguous as to whether LLC members were redeemed as
of the effective date of redemption or as of the date on which
they were paid their redemption prices.  Therefore, parol evidence
could be considered by the bankruptcy court, under Delaware law,
to arrive at a proper interpretation of the terms "redeem" and
"redemption" as used in the agreement in an adversary proceeding
addressing the redeemed investor status of certain LLC members.
In re SageCrest II, LLC, --- B.R. ----, 2009 WL 2602619 (Bankr. D.
Conn.) (Shiff, J.).

SageCrest II, LLC, and its official committee of equity security
holders brought an adversary proceeding (Bankr. D. Conn. Adv. Pro.
No. 08-5097) addressing whether Topwater Exclusive Fund III, LLC,
Freestone Low Volatility Partners, L.P., Freestone Low Volatility
Qualified Partners, L.P., and Wood Creek Multi-Asset Fund, L.P.,
were redeemed investors of the debtor and thus creditors in the
debtor's case.  Plaintiffs objected to defendants' introduction of
proposed evidence on parol evidence, hearsay, and relevance
grounds.


SageCrest II, LLC, is part of a group of funds that was formed to
address the financial needs of companies which, due to the
consolidation of the banking and specialty finance sectors, had
been shut off from traditional sources of capital.  SC II and its
debtor-affiliates conduct business chiefly through two lines of
business: structured finance and real estate investment and
development.  In their structured finance business, the debtors
have made loans to borrowers primarily in five areas: specialty
finance; life insurance-related products; corporate; mortgage and
real estate products; and specialty auto finance.  For real estate
investment and development, the debtors have made loans or
investments in the areas of hospitality, mixed use, multi-family,
and commercial.  The debtors have typically provided senior
secured, asset-based loans and related products to small-sized and
medium-sized businesses that have a significant asset base and are
overlooked by many lenders in the mainstream capital markets.  The
debtors have also provided junior or subordinated secured
financing.

On August 17, 2008, SC II filed for bankruptcy protection under
Chapter 11 of the Bankruptcy Code. By orders dated August 27,
2008, and October 30, 2008, the court approved the joint
administration of SC II's case with that of debtors SageCrest
Finance, LLC ("Finance"), SageCrest Holdings Limited ("Holdings"),
and SageCrest Dixon, Inc. ("Dixon") for administrative purposes.
On October 7, 2008, the United States Trustee ("UST") appointed a
committee of equity security holders (the "Equity Committee"),
including in its membership defendants Topwater Exclusive Fund
III, LLC ("Topwater"), and Wood Creek Multi-Asset Fund, LP ("Wood
Creek"). ( See "Appointment of Committee of Equity Security
Holders" (doc. # 149).) The UST contends that the Equity Committee
is comprised of former investors in SC II with all committee
members claiming they redeemed their investments in that debtor. (
See UST's Objection at 2 (doc. # 155).) Asserting they are
creditors-and not equity holders-of SC II, both Topwater and Wood
Creek resigned from the Equity Committee. ( See "Amended Notice of
Appointment of Committee of Equity Security Holders" (doc. # 273)
(deleting Topwater and Wood Creek from Equity Committee).)

Greenwich, Connecticut-based SageCrest Financial, LLC is managed
by Windmill Management LLC.   SageCrest Financial and SageCrest
II, LLC filed chapter 11 petitions on Aug. 17, 2008 (Bankr. Conn.
Case Nos. 08-50755 and 08-50754), and filings by SageCrest
Holdings Limited (Bankr. D. Conn. Case No. 08-50763) and SageCrest
Dixon, Inc. (Bankr. D. Conn. Case No. 08-50844), followed.  James
Berman, Esq., at Zeisler and Zeisler P.C., represents the Debtors
in their restructuring efforts.   The Debtors estimate their
assets at $100 million to $500 million.


SALTON INC: Moody's Assigns Corporate Family Rating at 'B2'
-----------------------------------------------------------
Moody's Investors Service assigned an initial B2 corporate family
rating and a B2 probability of default rating to Salton Inc.
Moody's also assigned a B3 rating to Salton's new senior secured
term loan.  Proceeds from the $180 million term loan will
refinance the existing unrated $160 million term loan.  The rating
outlook is stable.

Headquartered in Miramar, Florida, Salton markets and distributes
a wide range of small kitchen and home appliances through mass
merchandisers, specialty retailers and appliance distributors.

The B2 corporate family rating reflects Salton's relatively small
scale with revenue of around $800 million, history of operating
struggles and modest credit metrics highlighted by historically
high leverage (with 75% of $200 million preferred equity treated
as debt), low margins and modest cash flow.  The rating is also
constrained by the competition from bigger and better capitalized
companies as well as by the potential for its owner, Harbinger
Capital, to be shareholder friendly with its financial policies.
Harbinger owns the company's common stock, preferred stock and the
existing $160 million term loan.  The rating benefits from the
ongoing brand rationalization, cost cutting efforts and lower raw
material costs, all of which are expected to significantly improve
profitability and credit metrics in the near term.  The rating
also reflects the company's portfolio of highly recognizable
brands, its good geographic and product diversification and
leading market positions in core categories.  Most of Salton's
products are moderately priced and are replacement in nature which
helps in the current weak economic environment.

The stable outlook reflects Moody's view that the company's
operations will continue to improve in the near term and that it
will maintain an adequate liquidity profile.  "The stable outlook
also reflects Moody's belief that Salton will continue with its
strategy of focusing on a select group of brands and that its
product innovation will remain targeted and focused" said Kevin
Cassidy, Senior Credit Officer at Moody's Investors Service.  The
stable outlook further reflects Moody's expectation that adjusted
leverage will be around 6x (under 4x excluding analytical
treatment of preferred equity as debt) and that operating margins
should start approaching high single digits in the near term.  The
stable outlook also reflects Moody's expectation that Salton will
not materially increase debt in the near term either for
acquisitions or to fund shareholder returns.

The B3 rating of the senior secured term loan reflects both the
overall probability of default of the company, to which Moody's
assigns a PDR of B2, and a loss given default of LGD 4.  Moody's
used a 50% family LGD rate as the company's capital structure
consists of first and second lien bank facilities.  The term loan
rating also reflects its senior position in Salton's capital
structure and full guarantees of existing and future subsidiaries.
The unrated ABL's have a first lien on inventory and accounts
receivable.  The term loan has a second lien on the ABL assets and
a first lien on fixed assets, stock and intellectual property.
The combination of the ABL's and term loan collateral pledge
effectively constitutes an all asset pledge, except for certain
foreign assets.

These ratings were assigned:

  -- Corporate Family Rating at B2;

  -- Probability of Default Rating at B2;

  -- $180 million senior secured term loan rating at B3 (LGD4,
     66%)

Salton Inc. located in Miramar, Florida, markets and distributes a
wide range of small kitchen and home appliances through mass
merchandisers, specialty retailers and appliance distributors.
Salton's brand portfolio includes Black & Decker(R), George
Foreman(R), Russell Hobbs(R), Toastmaster(R), LitterMaid(R),
Juiceman(R), Breadman(R) and Farberware(R).  The company
distributes internationally with approximately fifty percent of
its sales outside the U.S. Net sales for the year ended June 30,
2009 were approximately $800 million.


SAN JOAQUIN BANK: Closed; Citizens Business Assumes Deposits
------------------------------------------------------------
San Joaquin Bank, Bakersfield, California, was closed October 16
by the California Department of Financial Institutions, which
appointed the Federal Deposit Insurance Corporation as receiver.
To protect the depositors, the FDIC entered into a purchase and
assumption agreement with Citizens Business Bank, Ontario,
California, to assume all of the deposits of San Joaquin Bank.

The five branches of San Joaquin Bank will reopen on Monday as
branches of Citizens Business Bank.  Depositors of San Joaquin
Bank will automatically become depositors of Citizens Business
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 they receive notice
from Citizens Business Bank that it has completed systems changes
to allow other Citizens Business Bank branches to process their
accounts as well.

As of September 29, 2009, San Joaquin Bank had total assets of
$775 million and total deposits of approximately $631 million.
Citizens Business Bank did not pay the FDIC a premium for the
deposits of San Joaquin Bank.  In addition to assuming all of the
deposits of the failed bank, Citizens Business Bank agreed to
purchase essentially all of the assets.

The FDIC and Citizens Business Bank entered into a loss-share
transaction on approximately $683 million of San Joaquin Bank's
assets.  Citizens Business Bank will share in the losses on the
asset pools covered under the loss-share agreement.  The loss-
share 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.  For more
information on loss share, please visit:
http://www.fdic.gov/bank/individual/failed/lossshare/index.html

Customers who have questions about the transaction can call the
FDIC toll-free at 1-800-423-6395.  Interested parties also can
visit the FDIC's Web site at
http://www.fdic.gov/bank/individual/failed/sanjoaquin.html

The FDIC estimates that the cost to the Deposit Insurance Fund
(DIF) will be $103 million.  Citizens Business Bank's acquisition
of all the deposits was the "least costly" resolution for the
FDIC's DIF compared to alternatives.  San Joaquin Bank is the 99th
FDIC-insured institution to fail in the nation this year, and the
tenth in California. The last FDIC-insured institution closed in
the state was Affinity Bank, Ventura, on August 28, 2009.


SANTA FE GOLD: Stark Winter Raises Going Concern Doubt
------------------------------------------------------
Stark Winter Schenkein & Co., LLP, in Denver, Colorado, expressed
substantial doubt about Santa Fe Gold Corporation's ability to
continue as a going concern after auditing the Company's
consolidated financial statements for the year ended June 30,
2009, and 2008.  The auditing firm reported that the
Company has suffered recurring losses from operations, has no
current source of operating revenues, has a working capital
deficit and needs to secure financing to remain a going concern.

The Company posted a net loss of $5,535,596 on sales of $72,624
for the year ended June 30, 2009, as compared with a net loss of
$4,423,592 on zero sales for the year ended June 30, 2008.

The Company has received no substantial revenue from the
production of gold or other metals since its inception, and
historically has relied on equity and debt financings to finance
its ongoing operations.

General and administrative expenses increased to $2,856,204 for
the fiscal year 2009, from $1,720,793 for the fiscal year 2008, an
increase of $1,135,411.

At June 30, 2009, the company's consolidated balance sheet showed
$16,771,303 in total assets and $19,657,200 in total liabilities,
resulting in a $2,885,897 stockholders' deficit.

The Company's consolidated balance sheet at June 30, 2009, also
showed strained liquidity with $660,097 in total current assets
available to pay $4,512,400 in total current liabilities.

A full-text copy of the Company's consolidated financial
statements for the year ended June 30, 2009, is available for free
at http://researcharchives.com/t/s?4705

                       About Santa Fe Gold

Based in Albuquerque, New Mexico, Santa Fe Gold Corporation
(OTCBB: SFEG) -- http://www.santafegoldcorp.com/-- is a U.S.
mining company incorporated in Delaware in August 1991.  Its
general business strategy is to acquire, explore and develop
mineral properties.  The Company's principal assets are the 100%
owned Summit silver-gold property located in New Mexico, the
leased Ortiz gold project in New Mexico and the 100% owned Black
Canyon mica project in Arizona.


SEMGROUP LP: Presents Executive Consulting Agreements
-----------------------------------------------------
In connection with SemGroup LP and its units' preparation of their
plan of reorganization, a SemGroup Executive Search Committee,
consisting of three members of the steering committee for the
Debtors' prepetition secured lenders and two members of the
Official Committee of Unsecured Creditors, was formed to engage an
executive search firm to assist in the process of identifying
individuals to serve as Chief Executive Officer, Chief Financial
Officer and six members of the board of directors of the ultimate
parent of the SemGroup Companies, SemGroup, L.P., after the
Debtors' emergence from Chapter 11.

After several months of researching and interviewing potential
candidates for the positions of CEO and CFO, Russell Reynolds
Associates, Inc., recommended that the Reorganized Debtors enter
into employment agreements with Norman J. Szydlowski as CEO and
Phillip J. Reedy as CFO of the newly emerged reorganized Debtors
as of the effective date of the Fourth Amended Joint Plan of
Reorganization.

To prepare for the transition of senior management on the
Effective Date, the Debtors entered into separate consulting
agreements with Messrs. Reedy and Szydlowski to allow them to
become more familiar with the Debtors' business operations.

The material terms of the Szydlowski Consulting Agreement are:

  * Mr. Szydlowski will act as an independent contractor of
    Debtor SemManagement, L.L.C.;

  * Subject to certain termination provisions, the Szydlowski
    Consulting Agreement will become effective as of the Court
    approval of the Szydlowski Consulting Agreement and will
    continue until the Effective Date;

  * Mr. Szydlowski will advise the Debtors with respect to
    executive management matters, assist the Debtors with their
    emergence from Chapter 11, and other services; and

  * SemManagement will pay Mr. Szydlowski $390 per hour and will
    reimburse him for expenses incurred in connection with the
    Szydlowski Consulting Agreement.

The material terms of the Reedy Consulting Agreement are:

  * Mr. Reedy will act as an independent contractor of
    SemManagement;

  * Subject to certain termination provisions, the Reedy
    Consulting Agreement will become effective as of Court
    approval of this agreement and will continue until the
    Effective Date;

  * Mr. Reedy will advise the Debtors with respect to executive
    financial and accounting matters, assist the Debtors with
    their emergence from Chapter 11 and other services set forth
    in the Reedy Consulting Agreement.

  * SemManagement will pay Mr. Reedy $260 per hour and will
    reimburse him for expenses incurred in connection with the
    Reedy Consulting Agreement.

The Debtors sought and obtained the Court's authority to enter
into the Szydlowski Consulting Agreement, nunc pro tunc to
September 10, 2009.

As to the Reedy Consulting Agreement, SemGroup L.P. disclosed in
a public statement dated October 5, 2009, that Mr. Reedy is no
longer a candidate for the position of CFO.  The Reedy Consulting
Agreement has not been approved by the Court.  Mr. Reedy and
SemManagement, L.L.C., executed an agreement terminating the
Reedy Consulting Agreement on October 5, 2009, whereby Mr.
Reedy's consulting relationship with the Debtors will cease
effective as of October 5, 2009.  Judge Shannon approved the
Reedy Termination Agreement.

According to the public statement, SemGroup continues to work
with Russell Reynolds to resume its search for CFO.  Mr.
Szydlowski will serve as SemGroup's CEO upon emergence from
Chapter 11 and Terry Ronan will continue as president and chief
executive for the remainder of the Chapter 11 reorganization.

Mark D. Collins, Esq., at Richards, Layton & Finger, P.A. in
Wilmington, Delaware, asserted that the Szydlowski Consulting
Agreement will effectuate a seamless transition between senior
management on the Effective Date.  Failure to provide a
transition period would leave the Debtors vulnerable post-
emergence while senior management is learning the businesses of
the Debtors, trying to lead the Debtors out of a complicated
Chapter 11 process, and at the same, working to position the
Debtors for success in a challenging economy, he insists.

                        About SemGroup L.P.

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

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

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

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

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

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


SEMGROUP LP: Proposes Race Trac Settlement Agreement
----------------------------------------------------
Debtor SemFuel, L.P., and Race Trac Petroleum, Inc., were parties
to a prepetition purchase agreement whereby Race Trac was
required to purchase 55,000 barrels per month of unleaded
gasoline blended with ethanol and 5,000 barrels per month of
premium unleaded gasoline blended with ethanol.  As a condition
of entry into the Purchase Agreement, SemFuel also entered into a
Thruput/Sales Contract with Metroplex Energy, Inc., a subsidiary
of Race Trac.  Under the Thruput Contract, SemFuel agreed to
purchase denatured Ethanol from Metroplex that would in turn be
used to manufacture the gasoline sold to Race Trac under Purchase
Agreement.  By mid-August 2008 and September 2008, Race Trac was
more than 10 days past due on its payment for deliveries made by
SemFuel for July and August totaling $9,896,961.

As of the Petition Date, SemFuel owed Race Trac/Metroplex for
purchases made by SemFuel under the Thruput Contract.  Race Trac
filed Claim No. 5917 for the Ethanol Obligation for $2,467,517.
SemFuel sent letters demanding payment of the $9,896,961 to which
Race Trac responded that the Outstanding Race Trac Obligation
should be set off against the Ethanol Obligation.

To resolve the dispute, SemFuel and Race Trac entered into a
stipulation wherein (i) Race Trac agrees to pay SemFuel
$9,896,961 in full; and (ii) SemFuel agrees that Claim No. 5917
for $2,467,517 will be deemed an allowed general unsecured claim.

Accordingly, the Debtors ask the Court to approve the Stipulation
between SemFuel and Race Trac.

The Debtors insist that the $9,896,961 Race Trac has agreed to
return to SemFuel is the maximum amount that SemFuel will likely
recover from Race Trac if it sought to recover these funds
through litigation.

                        About SemGroup L.P.

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

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

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

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

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

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


SEMGROUP LP: Sale of SemFuel Assets to Noble Closes
---------------------------------------------------
SemGroup LP and its affiliates inform the Court that the closing
of the transactions contemplated by the asset purchase agreement
with Noble Americas Corp. occurred on September 30, 2009.  The
Debtors add that they entered into an agreement with respect to
tank lease on September 30, 2009, a full-text copy of which is
available for free at:

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

The Debtors earlier informed the Court that they entered into an
amendment to the asset purchase agreement with Noble Americas
Corp.  The Debtors note that the Amendment does not contain
material changes and may be executed without
further order of the Court.

A full-text copy of the amendment to the Noble APA is available
for free at:

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

U.S. Bankruptcy Judge Brendan Linehan Shannon authorized the
Debtors to sell SemFuel L.P.'s assets to Noble Americas Corp. for
$65,350,000 free and clear of all liens, on August 13, 2009.

An auction was held by the Debtors on August 3, 2009, whereby
Noble Americas was selected as the successful bidder for
SemFuel's Asset Groups 1 to 5 for a total bid of $65,350,000.
QuikTrip Corporation, U.S. Oil Co., Inc., and Magellan Pipeline
Company, L.P., were the approved stalking horse bidders of the
Asset Groups 1 to 3.

The assets sold to Noble Americas are:

Group 1 -- assets located in Fort Worth, Texas

Group 2 -- assets located in Green Bay, Wisconsin; Bettendorf,
            Iowa; and Rogers City, Michigan

Group 3 -- assets located in El Dorado, Kansas; Des Moines,
            Iowa; and Glenpool and West Tulsa, Oklahoma

Group 4 -- assets located in Bryan, Texas

Group 5 -- assets located in Houston, Texas

                        About SemGroup L.P.

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

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

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

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

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

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


SEMGROUP LP: Wins Nod to Sell SemMaterials Assets to Vance
----------------------------------------------------------
SemMaterials, L.P., its parent SemGroup, L.P., and certain direct
and indirect subsidiaries of SemGroup, obtained the Court's
approval of sale of SemMaterials' assets, pursuant to a non-
binding offer submitted by Vance Brothers, Inc., subject to higher
bids.

Specifically, SemMaterials will sell certain equipment and
miscellaneous assets found in its facilities in Fort Lauderdale
Florida; Garden City, Georgia; and Halstead Kansas to Vance
Brothers for $520,000.

In light of the nature and size of the Assets, the Debtors
believe that conducting a public auction is costly and would
unduly diminish the proceeds from the proposed sale transaction.

Parties wishing to submit a higher offer for the Assets must do
so before September 17, 2009.  The Court will consider the
Debtors' Motion to Sell on September 24, with an objection
deadline on September 17.

                        About SemGroup L.P.

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

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

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

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

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

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


SERVICE CORP: $256 Mil. Deal Won't Affect S&P's 'BB' Rating
-----------------------------------------------------------
Standard & Poor's Ratings Services said that its rating on Service
Corp. International (BB/Stable/--) is currently unaffected by the
company's agreement to acquire Tampa, Florida-based Keystone North
America Inc. (unrated) for about $256 million.

Keystone is the fifth largest operator of funeral homes and
cemeteries in the country, and should bolster SCI's position as by
far the largest provider of such services, in a still-fragmented
field of small, local competitors.  S&P believes that funding for
this transaction will be provided by additional borrowing and some
of the company's cash, which totaled $170 million at June 30,
2009.  At the same time, however, pro forma leverage (including
expected synergies and divestitures) should remain consistent with
the company's financial risk profile.


SINCLAIR BROADCAST: S&P Retains Corporate Credit Rating at 'B-'
---------------------------------------------------------------
Standard & Poor's Ratings Services said that the CreditWatch
status on Hunt Valley, Maryland-based TV broadcaster Sinclair
Broadcast Group Inc. (corporate credit rating at 'B-') and its
operating subsidiary, Sinclair Television Group Inc., remains
unchanged, at developing implications.

At the same time, S&P raised the issue-level rating on STG's
proposed private placement of senior secured second-lien notes to
'B-', from 'CCC+'.  The recovery rating remains at '5', indicating
S&P's expectation that note holders would receive modest (10% to
30%) recovery in the event of a payment default.  The rating on
the second-lien notes is not on CreditWatch.  However, this rating
assumes the notes' successful placement, is subject to Standard &
Poor's receipt and satisfactory review of the final documentation,
and will be withdrawn if the issuance is not completed.

"The upgrade of the rating on the proposed second-lien notes
reflects greater clarity on the deal structure and S&P's view that
completion of the transactions as proposed, and assuming no other
significant developments, will result in an upgrade of Sinclair's
corporate credit rating to 'B'," said Standard & Poor's credit
analyst Deborah Kinzer.

The 'B-' rating on STG's senior subordinated notes remains on
CreditWatch with negative implications because these notes will
rank junior to the second-lien notes if the refinancing is
successful.

Sinclair is taking several steps to refinance its debt in advance
of potential put exercises on two convertible note issues and bank
debt maturities.  First, the company announced that it has entered
into a nonbinding memorandum of understanding with Cunningham, its
LMA partner in six markets.  In the MOU, Sinclair agrees to, among
other things, pay Cunningham a total of $29.1 million over a
period of 11 quarters, which Cunningham will use to repay its bank
term loan.

Second, Sinclair announced that it has commenced tender offers for
its $294 million 3.0% and $144 million 4.875% convertibles notes,
which are putable to the company in May 2010 and January 2011,
respectively.  Tendering note holders will receive $980 per $1,000
in principal amount plus accrued and unpaid interest from the last
interest payment date to the settlement date.

Finally, concurrent with the second-lien notes offering, Sinclair
has entered into negotiations with its banks to amend and restate
STG's senior secured credit facility.

In S&P's opinion, this series of transactions would, if completed,
eliminate S&P's concern about large potential put exercises on the
convertible notes, extend the maturities on Sinclair's bank debt,
resolve the most crucial issues between Sinclair and Cunningham,
and significantly reduce the threat that Cunningham's performance
pressures are posing to Sinclair's financial health.  However,
these transactions will not reduce Sinclair's leverage, which S&P
believes is likely to increase in the near term.  Sinclair's
lease-adjusted debt to EBITDA was 6.8x as of June 30, 2009.


SINOBIOPHARMA INC: Earns $237,167 in First Quarter Ended August 31
------------------------------------------------------------------
Sinobiopharma, Inc., reported net income of $237,167 on sales of
$1,293,764 for the first quarter of ended August 31, 2009,
compared to net income of $147,863 on sales of $931,203 in the
same period last year.

At August 31, 2009, the Company's consolidated balance sheet
showed total assets of $6,734,756, total liabilities of
$5,336,234, and total stockholders' equity of $1,398,522.

The Company's consolidated balance sheeet at August 31, 2009, also
showed strained liquidity with $2,714,852 in total current assets
available to pay $5,336,234 in total current liabilities.

On Sept. 14, 2009, Schumacher & Associates, Inc., in Denver,
Colorado, expressed substantial doubt about Sinobiopharma, Inc.'s
ability to continue as a going concern after auditing the
Company's consolidated financial statements as of and for the
fiscal years ended May 31, 2009, and 2008.  The auditing firm
pointed to the Company's losses since its inception and negative
working capital.

For the first quarter ended August 31, 2009, the Company had net
income of $237,167, but cumulative losses since commencement of
operations have amounted to $7,474,111.  The Company also has
negative working capital as of August 31, 2009.  These conditions
raise substantial doubt about the Company's ability to continue as
a going concern.

Full-text copies of the Company's consolidated financial
statements for the three months ended August 31, 2009, are
available for free at http://researcharchives.com/t/s?470f

Based in Nantong City, Jiangsu Province, China, Sinobiopharma,
Inc., through its operating subsidiary Dong Ying China, is engaged
in the research, development, manufacture and marketing of
biopharmaceutical products in China.  The company has developed
new methods for synthesis of active pharmaceutical ingredient
("API") and innovative drug delivery (new formulation) that
dramatically reduces the time and cost of drug development.  The
Company's current therapeutic focus is on anesthesia-assisted
agents and cardiovascular drugs.  The Company's R&D focus is new,
innovative methods of synthesizing compounds more rapidly at lower
cost, and/or improved drug formulation with enhanced usability.


SIRVA INC: Court Disallows Competitors' RICO & Antitrust Claims
---------------------------------------------------------------
WestLaw reports that a proof of claim filed by providers of
marketing and consulting services to carriers that transported
exhibition booths in moving companies' Chapter 11 cases failed to
state with sufficient particularity causes of action against the
companies for violations of RICO and federal antitrust laws as the
result of their volume incentive program with exhibit builders.
The claim alleged bribery, but it failed to explain why the volume
incentive program was illegal and how it caused compensable
damages.  In re DJK Residential LLC, --- B.R. ----, 2009 WL
2902938, 52 Bankr. Ct. Dec. 15  (Bankr. S.D.N.Y.) (Peck, J.).

As reported in the Troubled Company Reporter on Sept. 8, 2009, the
claimants sought $38 million from SIRVA.

SIRVA Inc. and 61 of its affiliates filed separate petitions for
Chapter 11 protection on February 5, 2008 (Bankr. S.D.N.Y. Case
No. 08-10433).  Marc Kieselstein, Esq., at Kirkland & Ellis,
L.L.P., represents the Debtor.  When the Debtors filed for
bankruptcy, it reported total assets of US$924,457,299 and total
debts of US$1,232,566,813 for the quarter ended Sept. 30, 2007.
The Court confirmed the Debtor's First Amended Prepackaged Plan on
May 7, 2008.  The Debtors' First Amended Prepackaged Joint Plan of
Reorganization became effective on May 12, 2008.


SIRIUS XM: Inks New Employment Deal with Head of Operations, Sales
------------------------------------------------------------------
Sirius XM Radio Inc. on October 14, 2009, entered into a new
employment agreement with James E. Meyer to continue to serve as
the Company's President, Operations and Sales, through May 1,
2013.

The Employment Agreement supersedes Mr. Meyer's existing
employment agreement and provides for an initial base salary of
$950,000, with specified increases.  The Employment Agreement also
provides for a lump sum severance payment in an amount equal to
(1) Mr. Meyer's annual base salary plus, (2) the greater of (x) a
bonus equal to 60% of his then annual base salary or (y) the prior
year's bonus actually paid to him in the case of certain
qualifying terminations.

In the event Mr. Meyer elects to retire in April 2011, he will
receive two times the Designated Amount generally in lieu of any
other payments under the Employment Agreement.

The Company's obligation to pay the amounts is subject to Mr.
Meyer's execution of a valid release of claims against the Company
and his compliance with certain restrictive covenants.  The
Company has also agreed to indemnify for any excise taxes that may
be imposed on him under Section 280G of the Internal Revenue Code.

Upon the expiration of the Employment Agreement in May 2013 or
following his retirement in April 2011, the Company has agreed to
offer Mr. Meyer a one-year consulting agreement for no additional
consideration, other than reimbursement of reasonable out-of-
pocket expenses associated with the performance of his obligations
under the consulting agreement.

In connection with the execution of the Employment Agreement, the
Company granted Mr. Meyer an option to purchase 25,184,984 shares
of our common stock at an exercise price of $0.5752 per share (the
closing sale price of the common stock on the Nasdaq Global Select
Market on the date of the Employment Agreement).  The Option will
generally vest in four equal installments on each of October 14,
2010, October 14, 2011, October 14, 2012, and October 14, 2013,
subject to earlier acceleration or termination under certain
circumstances.

As reported by the Troubled Company Reporter on September 30,
2009, Radio Business Report said independent research firm Audit
Integrity has included Sirius XM Radio Inc. in its list of 20
public companies with a high risk of filing for bankruptcy in the
coming 12 months.  According to RBR, Audit Integrity said that
Sirius XM has a 9.04% possibility of going bankrupt.

RBR said the list was based on a mathematical model which analyzed
thousands of publicly traded companies for risk factors, including
liquidity, leverage, profitability, how the market values the
company and whether there appears to be any risk of fraud in the
financial data disclosed by the company.

Based in New York, SIRIUS XM Radio Inc. broadcasts in the United
States music, sports, news, talk, entertainment, traffic and
weather channels for a subscription fee through proprietary
satellite radio systems.  Subscribers can also receive certain
music and other channels over the Internet.  The Company's
satellite radios are primarily distributed through automakers,
retailers and the Company's Web sites.   The Company has
agreements with every major automaker to offer SIRIUS or XM
satellite radios as factory or dealer-installed equipment in their
vehicles.  SIRIUS and XM radios are also offered to customers of
rental car companies.

Sirius XM continues to carry Moody's Ca Corporate Family Rating
and Caa3 Probability of Default Rating.  In August 2009, Standard
& Poor's raised its corporate credit rating on Sirius XM and XM
Satellite Radio Holdings to 'B-' from 'CCC+'.


SIX WIVES LLC: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Six Wives, LLC
        10421 Fern Hill Drive
        Riverview, FL 33578

Case No.: 09-23344

Chapter 11 Petition Date: October 14, 2009

Court: United States Bankruptcy Court
       Middle District of California

Debtor's Counsel: Richard J. McIntyre, Esq.
            McIntyre, Panzarella, Thanasides & Eleff
            6943 East Fowler Avenue
            Temple Terrace, FL 33617
            Tel: (813) 899-6059
            Fax: (813) 899-6069
            Email: rich@mcintyrefirm.com

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

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

According to the schedules, the Company has assets of at least
$12,032,062, and total debts of $7,206,220.

Debtor's List of 20 Largest Unsecured Creditors:

  Entity                       Nature of Claim        Claim Amount
  ------                       ---------------        ------------
20th Century Fox Film Corp.    Contract               Unknown
Attn: Legal Dept
PO Box 900
Beverly Hills, CA 90213

Andie MacDowell                Contract               Unknown
Greenburg, Glusker, et al
1900 Ave of the Stars
Ste 2100
Los Angeles, CA 90067

Barbara Barrie                 Contract               Unknown
Brian Davidson
Innovative Artists
235 Park Ave South
New York, NY 10003

Brillstein Entertainment       Contract               Unknown
9150 Wilshire Blvd, Suite 350
Beverly Hills, CA 90212

Chris Klein                    Contract               Unknown
A.J. Brandenstein, Esq.
Sloane, Offer, Weber & Dern
9601 Wilshire Blvd., Suite 500
Beverly Hills, CA 90210

Clifford Chance Firm                                  $45,000
c/o Steve Cottueau
2001 K Street NW
Washington, DC 20006

Elisha Cuthbert                Contract               Unknown
Lawrence Kelly Productions
The Gersh Agency
232 N Canon Dr
Beverly Hills, CA 90212

Eric Christian Olsen           Contract               Unknown
Michael Schenkman, Esq.
Bloom Hergott, et al
150 S Rodeo Dr, 3rd Floor
Beverly Hills, CA 90212

Film Finances, Inc.                                   Unknown
9000 Sunset Blvd, Suite 1400                          (Unknown
West Hollywood, CA 90069                              secured)

Fintage Collection Acct Mgmt                          Unknown
Sandra Valentijn, Acct Mgr
Stationsweg 32
2312 AV Leiden
The Netherlands

Harrison Kordestani            Contract               Unknown
c/o Outsource Media Group
100 Wilshire Blvd, Suite 950
Santa Monica, CA 90401

Holly Wlersma                  Contract               Unknown
8228 W Sunset Blvd
Los Angeles, CA 90046-2414

Howard Michael Gould           Contract               Unknown
c/o Outsource Media Group
100 S Wilshire Blvd, Suite 950
Santa Monica, CA 90401

Jenna Dewan                    Contract               Unknown
David Feldman, Esq.
Bloom Hergott, et al
150 S Rodeo Dr, 3rd Floor
Beverly Hills, CA 90121

Jenna Elfman                   Contract               Unknown
Jonathan West, Esq.
O'Melveny & Myers
1999 Avenue of the Stars
Los Angeles, CA 90067

John Flynn                                            Unknown
2727 Cardwell Place
Los Angeles, CA 90046

Lance Ringhaver                Loan                   $2,300,000
10421 Fern Hill Dr
Riverview, FL 33578

Larry Miller                   Contract               Unknown
Attn: Karen Olan
c/o Bernstein, Fox and Co.
2029 Century Park East #500
Los Angeles, CA 90067

Lindsay Sloane                                        Unknown
Daisy Wu
Endeavor Agency
9601 Wilshire Blvd, 3rd Flr
Beverly Hills, CA 90210

Tim Allen                      Contract               $400,000
Boxing Cat Entertainment, Inc.
c/o The William Orris Agency
1 William Morris Pl
Beverly Hills, CA 90212


SMART-TEK SOLUTIONS: Recurring Losses Prompt Going Concern Doubt
----------------------------------------------------------------
John Kinross-Kennedy, Certified Public Accountant, in Irvine,
California, expressed substantial doubt about Smart-tek Solutions,
Inc.'s ability to continue as a going concern after auditing the
Company's consolidated financial statements for the year ended
June 30, 2009, and 2008.

The auditor reported that the Company has suffered recurring
losses until the latest fiscal year.  The Company generated net
income of $20,891 and a negative cash flow from operations of
$3,092 during the year ended June 30, 2009, and had a working
capital deficiency of $1,151,444 and a stockholders' deficiency of
$685,011 at June 30, 2009.

Smart-tek Solutions, Inc. reported net income of $20,891 on total
revenue of $3,274,139 for the year ended June 30, 2009, compared
with a net loss of $3,059,628 on total revenue of $3,765,247 for
the year ended June 30, 2008.

The Company reported an operating loss of $91,817 for the year
ended June 30, 2009, compared to an operating loss of $2,997,356
for the year ended June 30, 2008.

General and administrative expenses for the years ended June 30,
2009, and June 30, 2008, were $807,250 and $3,833,493,
respectively.

At June 30, 2009, the Company's consolidated balance sheet showed
$1,452,658 in total assets and $2,137,669 in total liabilities,
resulting in a $685,011 stockholders' deficit.

The Company's consolidated balance sheet at June 30, 2009, also
showed strained liquidity with $986,225 in total current assets
available to pay $2,137,669 in total current liabilities.

Full-text copies of the Company's consolidated financial
statements for the year ended June 30, 2009, are available for
free at http://researcharchives.com/t/s?4706

                     About Smart-tek Solutions

Based in Reno, Nevada, Smart-tek Solutions, Inc. (OTC BB: STTN)
specializes in the design and development of radio frequency
identification (RFID) integration, monitoring and tracking
solutions.  Through its wholly owned subsidiary, Smart-Tek
Communications Inc., the Company operates in the business of
design, sale, installation and service of security technology with
electronic hardware and software products.  Currently, 100% of the
Company's operations are in Canada.


SPANSION INC: Committee Proposes Landis Rath as Conflicts Counsel
-----------------------------------------------------------------
The Official Committee of Unsecured Creditors of Spansion Inc.
seeks the Court's authority to retain Landis Rath & Cobb LLP as
its conflicts counsel, nunc pro tunc to September 30, 2009.

As previously reported, Committee selected Paul, Hastings,
Janofsky & Walker LLP as its bankruptcy counsel and Young Conaway
Stargatt & Taylor, LLP, as its co-counsel.

The Committee tells the Court that Paul Hastings and Young
Conaway have identified certain potential conflicts of interest
that prevent them from, among other things, being adverse to
Samsung Co., Ltd.

Prior to the Petition Date, the Debtors initiated two lawsuits
against Samsung for patent infringement.  One lawsuit demands
damages and injunctive relief, and is pending before the U.S.
District Court for the District of Delaware.  The other lawsuit
requests invocation of tariff protections, preventing Samsung's
importation of patent infringing product into the United States,
and is pending before the International Trade Commission.

Thus, the Committee seeks to retain Landis Rath as counsel for
conflict matters.

The Committee says it has selected Landis Rath because of its
expertise in the field of debtor and creditor law and business
reorganizations under Chapter 11 of the Bankruptcy Code and
experience handling matters in the District of Delaware.

Landis Rath will render legal services to the Committee only in
connection with the Conflict Matters.

The Debtors will pay Landis Rath based on the firm's current
hourly rates:

  Attorney                      Rate/Hour
  --------                      --------
  Daniel B. Rath                 $525
  William E. Chipman, Jr.        $500
  Kerri M. Mumford               $370
  Mark D. Olivere                $340

The Debtors will also reimburse Landis Rath for its out-of-pocket
and reasonable expenses.

William E. Chipman, Jr., Esq., at Landis Rath & Cobb LLP, in
Wilmington, Delaware, assures the Court that his firm is a
"disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code.

                        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.

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


SPANSION INC: Liquidity Solutions, R3 Buy Claims
------------------------------------------------
In separate Court filings for the period September 18 to
October 9, 2009, eight of the Debtors' creditors disclosed that
they intend to transfer each of their claims against the Debtors:

Transferor                Transferee                     Amount
----------                ----------                     ------
Porter Novelli Inc        Liquidity Solutions, Inc.     $63,844

Sonnenschein Nath &
Rosenthal LLP             Argo Partners               1,584,395

Spinnaker Management
Group LLC                 Liquidity Solutions, Inc.     130,616

Locke Lord Bissell &
Li Ddell                  Liquidity Solutions, Inc.      95,995

Guckenheimer Enterprises
Inc.                      Liquidity Solutions, Inc.      54,973

Longacre Opportunity      R3 Capital Partners Master,   199,271
Fund, L.P.                L.P.                    JPY43,178,760

Longacre Opportunity      R3 Capital Partners Master,
Fund, L.P.                L.P.                          575,337

Hitachi Chemical Co
America Ltd.              Argo Partners                 269,682

                        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.

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


SPANSION INC: Proposes to Assume SAS License Agreement
------------------------------------------------------
SAS Institute Inc. and Spansion entered into a Master Lease
Agreement on July 6, 2006, for the use of SAS's software
applications routinely employed in the operation of Spansion's
business.  The Licensing Agreement is comprised of:

  (a) an initial Master License Agreement No. 53243 signed by
      Spansion on July 6, 2006, and signed by SAS on July 20,
      2006;

  (b) Supplement Number 1 signed by Spansion on July 30, 2006,
      and signed by SAS on July 20, 2006;

  (c) Amendment No. 1 to Supplement Number 1 signed by Spansion
      on September 12, 2006, and signed by SAS on September 28,
      2006;

  (d) Supplement Number 2 signed by Spansion on July 17, 2006,
      and signed by SAS on August 16, 2006; and

  (e) Supplement Number 3 signed by Spansion on January 22,
      2007, and signed by SAS on January 24, 2007.

The SAS Software is used in the Debtors' manufacturing facility
in Austin, Texas or the "FAB."  The SAS Software is a programming
language that allows the Debtors to create software tools to
assist in the manufacturing process.  The Software Tools enable
the Debtors to gather data from all across FAB as the product is
created.  With a new software provider, the Debtors would have to
incorporate the new software language throughout the FAB, and
perhaps more importantly, rewrite over 15 years of Software Tools
specific to the Debtors' manufacturing process.  The Debtors
estimate that this would take at least two man years of labor as
well as large financial investment significantly more than the
cure amount of $10,426 and the annual licensing fee associated
with this software.

According to the Debtors, while all postpetition obligations due
to SAS are current, by assuming the Licensing Agreements, they
will be required to pay a cure amount of $10,426.

Pursuant to Section 365 of the Bankruptcy Code, the Debtors seek
the Court's authority to assume the Licensing Agreements.

                        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.

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


SPEEDUS CORP: Posts $1.25-Mil. Net Loss in 2009 Second Quarter
--------------------------------------------------------------
Speedus Corp. reported a net loss of $1,250,148 on revenues of
$24,900 for the second quarter ended June 30, 2009, compared with
a net loss of $1,923,206 on revenues of $124,345 in the same
period of 2008.

Decreases in revenue were primarily the result of lower contracted
service revenue earned by Zargis Medical Corp..

Selling, general and administrative expenses decreased 42% from
approximately $1,413,000 for the three months ended June 30, 2008,
to approximately $814,000 for the three months ended June 30,
2009.  This decrease was the result of approximately $400,000 in
patent litigation expenses, approximately $70,000 in internet
initiative expenses, and approximately $130,000 in Density
Dynamics staff related expenses that were incurred during the
three months ended June 30, 2008, that were not incurred in the
three months ended June 30, 2009.  These reductions in spending
were offset by approximately $30,000 in additional spending at
Zargis on general and administrative expenses.

At June 30, 2009, the Company's consolidated balance sheet showed
$3,822,078 in total assets, $3,344,920 in total liabilities, and
$477,158 in stockholders' equity.

Full-text copies of the Company's consolidated financial
statements for the three months ended June 30, 2009, are available
for free at http://researcharchives.com/t/s?46f8

                      Going Concern Doubt

The Company has recorded operating losses and negative operating
cash flows since its inception and has limited revenues.  At
June 30, 2009, the Company had an accumulated deficit of
approximately $85,705,000.

The Company says that it may not have funds sufficient to finance
operations and enable it to meet its financial obligations for the
next twelve months.  There can be no assurances that the Company
will be able to consummate any capital raising transactions,
particularly in view of current economic conditions.  The
inability to generate future cash flow or raise funds to finance
strategic investments could have a material adverse effect on the
Company's ability to achieve its business objectives.

The report of the Company's registered public accounting firm for
the fiscal year ended December 31, 2008, contains an explanatory
paragraph which states that there is substantial doubt about the
Company's ability to continue as a going concern.

The Company reported a net loss of $1,338,474 on revenues of
$49,800 in the three months ended March 31, 2009.

For the year ended December 31, 2008, the Company reported a net
loss of $9,201,876 on revenues of $155,870.


Full-text copies of the Company's consolidated financial
statements for the three months ended March 31, 2009, are
available for free at http://researcharchives.com/t/s?46f7

Full-text copies of the Company's consolidated financial
statements for the year ended December 31, 2008, are available for
free at http://researcharchives.com/t/s?46f6

                       About Speedus Corp.

Freehold, New Jersey-based Speedus Corp. (Nasdaq: SPDE) --
http://www.speedus.com/-- operates through its two majority
subsidiaries Zargis Medical Corp. and Density Dynamics, Inc.
Zargis is a medical device company focused on improving health
outcomes and cost effectiveness through the development of
computer-aided medical devices and telemedicine based delivery
systems.  Density Dynamics is a newly formed company that was
created to acquire the technology, assets and some of the
operations of a developer and marketer of ultra-high speed storage
systems for server networks and other applications.


SPRINT NEXTEL: Hall Resigns as SVP, Controller & Accounting Head
----------------------------------------------------------------
Charles L. Hall on October 13, 2009, tendered his resignation to
Sprint Nextel Corporation from his position as Senior Vice
President, Controller and Principal Accounting Officer effective
November 4, 2009.  Mr. Hall is resigning for personal reasons.

Sprint Nextel Corporation is a communications company offering a
comprehensive range of wireless and wireline communications
products and services that are designed to meet the needs of
individual consumers, businesses and government subscribers.
Sprint Nextel is the third largest wireless communications company
in the United States based on the number of wireless subscribers.
Sprint Nextel is also one of the largest providers of wireline
long distance services and one of the largest carriers of Internet
traffic in the nation.

                           *     *     *

All three rating agencies rate Sprint's senior unsecured debt
below investment grade.  On May 1, 2008, Standard & Poor's lowered
Sprint's rating to BB.  On April 3, 2009, they changed Sprint's
outlook to negative from stable.  On December 10, 2008, Moody's
Investors Service lowered Sprint's rating to Ba2.  At the same
time, they raised Sprint's amended bank credit facility rating to
Baa2.  They rate Sprint's outlook as negative.  On February 19,
2009, Fitch Ratings lowered Sprint's rating to BB.  They rate
Sprint's outlook as negative.


STANFORD INT'L: SFG Receiver Sues Firm's Ex-Employees for US$11MM
-----------------------------------------------------------------
Stanford Financial Group court-appointed receiver, Ralph Janvey,
has sued two ex-employees of Robert Allen Stanford's international
bank for US$11 million, United Press International reports.

According to the report, citing a complaint filed in U.S. District
Court in Dallas, Mr. Janvey said that the money, allegedly
funneled to Christopher Aitken and Stephen Thacker to hide it from
creditors, should be returned to investors who bought certificates
of deposit from the Stanford International Bank Limited.  The
report relates that the complaint alleges Mr. Aitken received
nearly US$8.7 million, and Mr. Thacker received nearly US$2.6
million -- both when they joined the firm last November.

The lawsuit, the report notes, said that Mr. Aitken and Mr.
Thacker, employed there for only three months, left "no indication
that they provided any meaningful services."

                About Stanford International Bank

Domiciled in Antigua, Stanford International Bank Limited --
http://www.stanfordinternationalbank.com/-- is a member of
Stanford Private Wealth Management, a global financial services
network with US$51 billion in deposits and assets under management
or advisement.  Stanford Private Wealth Management serves more
than 70,000 clients in 140 countries.

On February 16, 2009, the United States District Court for the
Northern District of Texas, Dallas Division, signed an order
appointing Ralph Janvey as receiver for all the assets and records
of Stanford International Bank, Ltd., Stanford Group Company,
Stanford Capital Management, LLC, Robert Allen Stanford, James M.
Davis and Laura Pendergest-Holt and of all entities they own or
control.  The February 16 order, as amended March 12, 2009,
directs the Receiver to, among other things, take control and
possession of and to operate the Receivership Estate, and to
perform all acts necessary to conserve, hold, manage and preserve
the value of the Receivership Estate.

The U.S. Securities and Exchange Commission, on Feb. 17, charged
before the U.S. District Court in Dallas, Texas, Mr. Stanford and
three of his companies for orchestrating a fraudulent, multi-
billion dollar investment scheme centering on an US$8 billion
Certificate of Deposit program.

A criminal case was pursued against him in June before the U.S.
District Court in Houston, Texas.  Mr. Stanford pleaded not guilty
to 21 charges of multi-billion dollar fraud, money-laundering and
obstruction of justice.  Assistant Attorney General Lanny Breuer,
as cited by Agence France-Presse News, said in a 57-page
indictment that Mr. Stanford could face up to 250 years in prison
if convicted on all charges.  Mr. Stanford surrendered to U.S.
authorities after a warrant was issued for his arrest on the
criminal charges.

The criminal case is U.S. v. Stanford, H-09-342, U.S. District
Court, Southern District of Texas (Houston). The civil case is SEC
v. Stanford International Bank, 3:09-cv-00298-N, U.S. District
Court, Northern District of Texas (Dallas).


STANFORD INT'L: SEC's Watchdog to Revisit Handling Firm's Probes
----------------------------------------------------------------
Jesse Westbrook at Bloomberg News reports that the U.S. Securities
and Exchange Commission's internal watchdog is taking a fresh look
at agency investigations of the multi-billion Ponzi scheme
allegedly carried out by Robert Allen Stanford.

According to the report, SEC Inspector General H David Kotz said
he is conducting the review in response to a request from US
Senators Richard Shelby and David Vitter that he do a more
"comprehensive and complete investigation."

"A failure to thoroughly investigate this matter would be
detrimental to the interests of the thousands of Stanford
victims," Alabama's Senator Shelby and Louisiana's Senator Vitter
wrote in a letter, the report recalls.

In an interview with the news agency, Mr. Kotz said his office has
already begun the review.  The report relates that Mr. Kotz said
his examination triggers new scrutiny of the SEC's investigative
prowess as it tries to restore confidence among investors and
lawmakers.

According to the report Senators Shelby and Vitter asked that Mr.
Kotz interview current and former SEC employees who investigated
Mr. Stanford, review e-mails that mentioned his business and
examine agency communications with brokerage regulators and other
government agencies.  The report relates that the lawmakers also
asked Mr. Kotz to assess whether anyone exerted pressure on the
SEC and whether the agency "made decisions regarding Mr. Stanford
that were not based on legitimate policy considerations."

Bloomberg, citing Senator Shelby and Vitter's letter, notes that
Mr. Kotz's findings will assist Congress as it considers
legislative reforms that will ensure regulators "more quickly
detect and shut down" Ponzi schemes.  "We fully cooperate with the
Inspector General in any of his investigations," the report quoted
SEC spokesman Kevin Callahan as saying.  "He has independence with
respect to his choice of what to investigate," Mr. Callahan added.

                About Stanford International Bank

Domiciled in Antigua, Stanford International Bank Limited --
http://www.stanfordinternationalbank.com/-- is a member of
Stanford Private Wealth Management, a global financial services
network with US$51 billion in deposits and assets under management
or advisement.  Stanford Private Wealth Management serves more
than 70,000 clients in 140 countries.

On February 16, 2009, the United States District Court for the
Northern District of Texas, Dallas Division, signed an order
appointing Ralph Janvey as receiver for all the assets and records
of Stanford International Bank, Ltd., Stanford Group Company,
Stanford Capital Management, LLC, Robert Allen Stanford, James M.
Davis and Laura Pendergest-Holt and of all entities they own or
control.  The February 16 order, as amended March 12, 2009,
directs the Receiver to, among other things, take control and
possession of and to operate the Receivership Estate, and to
perform all acts necessary to conserve, hold, manage and preserve
the value of the Receivership Estate.

The U.S. Securities and Exchange Commission, on Feb. 17, charged
before the U.S. District Court in Dallas, Texas, Mr. Stanford and
three of his companies for orchestrating a fraudulent, multi-
billion dollar investment scheme centering on an US$8 billion
Certificate of Deposit program.

A criminal case was pursued against him in June before the U.S.
District Court in Houston, Texas.  Mr. Stanford pleaded not guilty
to 21 charges of multi-billion dollar fraud, money-laundering and
obstruction of justice.  Assistant Attorney General Lanny Breuer,
as cited by Agence France-Presse News, said in a 57-page
indictment that Mr. Stanford could face up to 250 years in prison
if convicted on all charges.  Mr. Stanford surrendered to U.S.
authorities after a warrant was issued for his arrest on the
criminal charges.

The criminal case is U.S. v. Stanford, H-09-342, U.S. District
Court, Southern District of Texas (Houston). The civil case is SEC
v. Stanford International Bank, 3:09-cv-00298-N, U.S. District
Court, Northern District of Texas (Dallas).


STAR TRIBUNE: May Return to Chapter 11, Says Turnaround Expert
--------------------------------------------------------------
The Wall Street Journal reports that turnaround expert Joseph A.
Bondi is speculating that the Star Tribune might file for another
Chapter 11 bankruptcy protection.  As reported by the TCR on
September 30, 2009, The Star Tribune said it has emerged from
bankruptcy September 28 with new ownership and reduced debt.  The
Star Tribune is now primarily owned by its senior secured lenders,
who hold approximately 95% of the stock.  The Company's debt is
$100 million, down from $480 million on January 15, 2009, the date
it commenced its Chapter 11 restructuring.

Headquartered in Minneapolis, Minnesota, The Star Tribune Company
-- http://www.startribune.com/-- operates the largest newspaper
in the state of Minnesota and published seven days each week in an
edition for the Minneapolis-Saint Paul metropolitan area.

The Company and its affiliate, Star Tribune Holdings Corporation,
filed for Chapter 11 protection on January 15, 2009 (Bankr.
S.D.N.Y. Lead Case No. 09-10244).  Attorneys at at Davis Polk &
Wardwell, represented the Debtors in their restructuring effort.
Blackstone Advisory Services L.P. served as financial advisor.
The Garden City Group, Inc., served as noticing and claims agent.
Attorneys at Lowenstein Sandler PC, represented the official
committee of unsecured creditors.  In its bankruptcy petition,
Star Tribune listed assets and debts between $100 million and
$500 million each.


STERLING FINANCIAL: Inks Deal to Strengthen Unit's Finances
-----------------------------------------------------------
Sterling Financial Corporation on October 15 said that its
subsidiary, Sterling Savings Bank, has entered into an agreement
with its regulators to continue taking actions to strengthen its
financial condition and operations.

William L. Eisenhart, chairman of Sterling's board of directors,
stated, "Sterling has been working closely with its regulators
since the start of this economic cycle to ensure that we are
maintaining safe and sound banking practices.  Our agreement
formalizes steps that already are underway and that we and our
regulators feel are necessary to maintain Sterling's financial
health, and its ability to provide high levels of service to our
customers and the communities we serve throughout the Pacific
Northwest."

The agreement commits Sterling's principal banking subsidiary,
Sterling Savings Bank, to continue taking actions relating to its
capital position, asset quality, liquidity and management
oversight.  It is known as a Stipulation and Consent to the
Issuance of an Order to Cease and Desist, and was entered into
with the Federal Deposit Insurance Corporation and Washington
Department of Financial Institutions.

Under the agreement, Sterling Savings Bank is required, among
other things, to achieve and maintain a Tier I leverage capital
ratio of not less than 10% by December 15, 2009.  Sterling
continues to work with its financial advisor, Sandler O'Neill +
Partners, L.P., to evaluate options for raising additional
capital. In July, Sterling filed a shelf registration statement
with the Securities and Exchange Commission to provide the ability
to raise up to $500 million over the next three years and, in
September, it received shareholder approval to increase the number
of authorized shares of Sterling common stock to facilitate the
raising of capital.

The agreement also commits Sterling to reducing its level of
classified and non-performing loans and other assets.  Sterling's
board and management have launched initiatives to reduce the
proportion of its loans and other assets that are classified non-
performing, and to improve its credit practices going forward.

To lead the efforts to improve credit quality and strengthen
oversight of the bank, the board named a new generation of
executive leadership. J . Gregory "Greg" Seibly was named acting
president and acting chief executive officer of Sterling Financial
Corporation and acting chief executive officer of Sterling Savings
Bank.  Ezra A. Eckhardt was named acting chief operating officer
of Sterling Financial Corporation and acting president of Sterling
Savings Bank, and continues as its chief operating officer.

Customer deposit accounts and non-classified loans are unaffected
by the agreement with regulators.  Deposits remain fully covered
by FDIC insurance to at least $250,000 per depositor.  In
addition, non-interest bearing transaction accounts and qualified
NOW Checking accounts are fully guaranteed by the FDIC for an
unlimited amount of coverage under the FDIC's Transaction Account
Guarantee (TAG) program, in which Sterling is a participant.  The
coverage under the TAG program is in addition to, and separate
from, the coverage available under the FDIC's general deposit
insurance protection.

"Our core deposits have been growing in response to our
relationship-driven deposit strategy. This is helping us to
maintain a strong liquidity position," said Mr. Seibly.  "As the
Pacific Northwest's largest community bank, Sterling is committed
to ensuring that it has the financial strength and resources to
serve our customers over the long term."

Sterling Financial Corporation of Spokane, Washington --
http://www.sterlingfinancialcorporation-spokane.com/-- is the
bank holding company for Sterling Savings Bank, a commercial bank,
and Golf Savings Bank, a savings bank focused on single-family
mortgage originations. Both banks are state chartered and
federally insured. Sterling offers banking products and services,
mortgage lending, construction financing and investment products
to individuals, small businesses, commercial organizations and
corporations.  As of June 30, 2009, Sterling Financial Corporation
had assets of $12.40 billion and operated more than 175 depository
branches throughout Washington, Oregon, Idaho, Montana and
California.


STUMP HILL FARM: Case Summary & 8 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Stump Hill Farm Inc.
        6633 Klick St.
        Massillon, OH 44646

Bankruptcy Case No.: 09-64272

Chapter 11 Petition Date: October 14, 2009

Court: United States Bankruptcy Court
       Northern District of Ohio

Judge: Russ Kendig

Debtor's Counsel: John L Juergensen, Esq.
                  John L. Juergensen Co., LPA
                  Washington Square Office Park
                  6545 Market Ave. North
                  North Canton, OH 44721
                  Tel: (330) 494-4200
                  Fax: (330) 494-4201
                  Email: jlj@juergensenlaw.com

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

Estimated Debts: $500,001 to $1,000,000

A full-text copy of the Debtor's petition, including a list of its
8 largest unsecured creditors, is available for free at:

            http://bankrupt.com/misc/ohnb09-64272.pdf

The petition was signed by Cynthia Huntsman, president of the
Company.


SUNGARD DATA: Bank Debt Trades at 4% Off in Secondary Market
------------------------------------------------------------
Participations in a syndicated loan under which SunGard Data
Systems, Inc., is a borrower traded in the secondary market at
96.29 cents-on-the-dollar during the week ended Oct. 16, 2009,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents a drop of 0.46
percentage points from the previous week, The Journal relates.
The loan matures on Feb. 28, 2016.  The Company pays 362.5 basis
points above LIBOR to borrow under the facility.  The bank debt
carries Moody's Ba3 rating while it carries 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 Oct. 16, among the 158 loans with five or more bids.

SunGard Data Systems, Inc., headquartered in Wayne, Pennsylvania,
is a provider of software and IT services to the financial
services industry well as higher education institutions and the
public sector.  SunGard also provides disaster recovery/business
continuity services through its Availability Services division.

As stated by the Troubled Company Reporter on Sept. 1, 2009,
Moody's Investors Service assigned a Ba3 rating to SunGard Data
System's $2.7 billion senior secured term loan B.  Concurrently,
Moody's affirmed SunGard's B2 corporate family and probability of
default ratings, along with its SGL-2 speculative grade liquidity
rating.  These actions follow the company's amendment of its
credit agreement with its lenders.  The rating outlook remains
stable.

The amendment dated June 9, 2009, extended the maturity date of
the company's $2.7 billion term loan B to February 28, 2016.  The
$2.7 billion term loan B was carved out of the company's original
$4.2 billion term loan facility maturing February 28, 2014.  The
credit agreement amendment also reduced the existing revolving
credit facility to $829 million from $1 billion and extended the
maturity date to May 11, 2013.  Finally, the amendment also
amended certain other provisions of the Credit Agreement,
including provisions relating to negative covenants and financial
covenants.

Standard & Poor's Ratings Services rates (i) SunGard's corporate
rating at 'B+', and its (ii) $2.7 billion tranche B secured term
loan maturing Feb. 28, 2016, and the $580 million secured
revolving credit facility maturing May 11, 2013, at 'BB'.


SWIFT TRANSPORTATION: Bank Debt Trades at 11.4% Off
---------------------------------------------------
Participations in a syndicated loan under which Swift
Transportation Co., Inc., is a borrower traded in the secondary
market at 88.60 cents-on-the-dollar during the week ended Oct. 16,
2009, according to data compiled by Loan Pricing Corp. and
reported in The Wall Street Journal.  This represents a drop of
0.73 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 Oct. 16, among the 158 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 ans, 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.


TARRAGON CORP: BofA to Take In 60% Of 6 Tarragon Property Sales
---------------------------------------------------------------
Law360 reports that Bank of America Corp. will receive 60% of the
sale price for six properties owned by bankrupt real estate
developer Tarragon Corp., a federal judge ruled Wednesday.

Based in New York City, Tarragon Corporation (NasdaqGS:TARR) --
http://www.tarragoncorp.com/-- is a leading developer of
multifamily housing for rent and for sale.  Tarragon's operations
are concentrated in the Northeast, Florida, Texas, and Tennessee.
Tarragon and its affiliates filed for Chapter 11 protection on
January 12, 2009 (Bankr. D. N.J. Case No. 09-10555).  The Hon.
Donald H. Steckroth presides over the case.

Michael D. Sirota, Esq., Warren A. Usatine, Esq., and Felice R.
Yudkin, Esq., at Cole Schotz Meisel Forman & Leonard, P.A.,
represent the Debtor as bankruptcy counsel.  Kurztman Carson
Consultants LLC serves as notice and claims agent.  Daniel A.
Lowenthal, Esq., at Patterson Belknap Webb & Tyler, LLP, in New
York, represents the official committee of unsecured creditors
appointed in the case.  Tarragon has said equity holders are out
of the money with regard to its bankruptcy case.  As of
September 30, 2008, the Debtors had $840,688,000 in total assets
and $1,035,582,000 in total debts.


TOUSA INC: Reports Home Sale Closings for September
---------------------------------------------------
Tousa Inc. and its units delivered to the Court a list of their
home sale closings and related payments to Operational Lien
Claimants for the period from September 1 through 30, 2009.

A two-page list covering more than 70 sales is available for free
at http://bankrupt.com/misc/TousaHomesSaleListSept2009.pdf

The sale closings were for homes located at Arizona, Texas,
Florida, Colorado, and Nevada.

                         About Tousa Inc.

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

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

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

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

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

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


TOYS "R" US: Retires GBP54 Mil. Loan; Has New GBP112 Mil. Facility
------------------------------------------------------------------
Toys "R" Us, Inc. has replaced its European Revolving Credit
Facility, which was scheduled to expire in July 2010, with a new
International Asset Backed Loan Facility that will continue until
October 15, 2012.

Specifically, on October 15, 2009, Toys "R" Us' subsidiaries Toys
"R" Us Europe, LLC, and TRU Australia Holdings, LLC, and certain
of their subsidiaries -- including Toys "R" Us (UK) Limited and
other European and Australian affiliates -- entered into a
Syndicated Facility Agreement with Deutsche Bank AG New York
Branch, as Administrative Agent and Security Agent, Deutsche Bank
AG, London Branch, as Facility Agent, Deutsche Bank AG New York
Branch and Bank of America, N.A., as Co-Collateral Agents, and the
other lenders party thereto, including Goldman Sachs Bank (Europe)
PLC and Citibank, N.A.

In connection with entering into the Credit Facility, Toys Europe
repaid the entire outstanding balance of approximately
GBP54 million under its existing GBP95 million/EUR145 million
multi-currency revolving credit facilities, which were terminated.

The new Credit Facility provides for a three-year GBP112 million
senior secured asset-based revolving credit facility.  Borrowings
under the Credit Facility are subject, among other things, to the
terms of a borrowing base derived from the value of eligible
inventory and eligible accounts receivable of certain of Toys
Europe's and Toys Australia's subsidiaries.

The terms of the Credit Facility include a customary cash dominion
trigger requiring the cash of certain of Toys Europe's and Toys
Australia's subsidiaries to be applied to pay down outstanding
loans if availability falls below certain thresholds.  The Credit
Facility also contains a springing fixed charge coverage ratio of
1.10 to 1.00 based on the EBITDA and fixed charges of Toys Europe,
Toys Australia and their subsidiaries.

Loans under the Credit Facility shall bear interest at a rate
based on LIBOR/EURIBOR plus a margin of 4.00% for the first year
and thereafter 3.75%, 4.00% or 4.25% depending on availability.  A
commitment fee accrues on any unused portion of the commitments at
a rate per annum also based on usage.

Borrowings under the Credit Facility are guaranteed to the extent
legally possible and practicable by Toys Europe, Toys Australia
and certain of their material subsidiaries.  Borrowings are
secured by substantially all assets of Toys Europe, Toys Australia
and the UK and Australian Obligors, as well as by share pledges
over the shares of (and certain assets of) other material
subsidiaries.  The Credit Facility contains covenants that, among
other things, restrict the ability of Toys Europe and Toys
Australia and their subsidiaries to incur certain additional
indebtedness, create or permit liens on assets, repurchase or pay
dividends or make certain other restricted payments on capital
stock, make acquisitions and investments or engage in mergers or
consolidations.  If an event of default shall occur and be
continuing, the commitments under the Credit Facility may be
terminated and the principal amount outstanding thereunder,
together with all accrued unpaid interest and other amounts owed,
may be declared immediately due and payable.

"We are very pleased to have refinanced this borrowing facility,
providing the company with additional liquidity to fund its
international seasonal working capital needs," said Clay Creasey,
Chief Financial Officer, Toys "R" Us, Inc.  "This is our third
major refinancing this year, and it is yet another vote of
confidence from our bank group.  These funds, combined with the
existing strong liquidity position of the parent company, will
help ensure the continued growth of our international operations."

Deutsche Bank and Banc of America Securities LLC were joint lead
arrangers and joint bookrunning managers for the transaction.
Other major lending institutions participating in the agreement
were Citibank and Goldman Sachs.

Toys "R" Us (UK), LTD., Toys "R" Us Europe, LLC., and Toys "R" Us
(Australia) PTY LTD., are wholly-owned subsidiaries of Toys "R"
Us, Inc.  They operate the Toys "R" Us and Babies "R" Us stores in
the United Kingdom, Europe and Australia.

A full-text copy of the Credit Facility is available at no charge
at http://ResearchArchives.com/t/s?4714

                         About Toys "R" Us

Toys "R" Us, headquartered in Wayne, New Jersey, is the largest
specialty retailer of toys, with annual revenues of around
$14 billion.  It operates stores both in the U.S. and
internationally, as well as the Babies "R" Us format.

As of August 1, 2009, the company had $8.172 billion in total
assets; total current liabilities of $2.085 billion, long-term
debt of $5.496 billion, deferred tax liabilities of $55 million,
deferred rent liabilities of $269 million, and other non-current
liabilities of $372 million.  As of August 1, 2009, the company
had Toys "R" Us, Inc. stockholders' deficit of $214 million and
noncontrolling interest of $109 million, and total stockholders'
deficit of $105 million.

The Company carries a 'B2' probability of default rating from
Moody's, "B" issuer credit ratings from Standard & Poor's, and
"B-" long term issuer default rating from Fitch.


TOYS "R" US: FTC Probes on Possible Breach of Anticompetitive Rule
------------------------------------------------------------------
The Federal Trade Commission has launched a probe on whether Toys
"R" Us, Inc., has breach an FTC order to abstain from
anticompetitive tactics by using its market influence to stifle
discounting by retail competitors and force consumers to pay
higher prices for baby products, Joseph Pereira at The Wall Street
Journal reports, citing people familiar with the matter.

Toys "R" Us consented to the decree in 1998, after an
administrative law judge ruled that the Company illegally using
its market power to influence strong-arm toy makers into
boycotting Costco Wholesale Corp. and other discount warehouse
clubs by threatening to stop selling any toys.

The Journal, citing a source, relates that Toys "R" Us could face
a new FTC complaint for allegedly trying to fix the prices of baby
products, which include strollers, high chairs, car seats, and
breast pumps sold at Toys "R" Us unit Babies "R" Us.  A person
familiar with the matter said that the FTC has requested documents
from law firms Faruqi & Faruqi LLP and Hagens Berman Sobol Shapiro
LLP, which are litigating cases alleging price-fixing against
Babies "R" Us in U.S. District Court in Philadelphia, The Journal
reports.

According to The Journal, FTC investigators are expected to review
numerous e-mails exchanged among Babies "R" Us and various
manufacturers.  E-mail exchanges filed in a class-action case
appears to show that Babies "R" Us was urging the Britax Childcare
unit of Carlyle Group LLC to get Target Corp. to raise prices, and
another court document suggests that Babies "R" Us canceled orders
for some products from Medela Inc. of Switzerland because the
company wasn't being tough enough on Internet retailers that
didn't abide by minimum-pricing agreements.  According to The
Journal, an internal Medela memo filed in the case showed that the
company then cut off supplies to 17 Internet retailers.

The Journal quoted a Toys "R" Us spokesperson as saying, "The FTC
began looking into the issue a year ago and we have cooperated
fully since that time."

Toys "R" Us, headquartered in Wayne, New Jersey, is the largest
specialty retailer of toys, with annual revenues of around
$14 billion.  It operates stores both in the U.S. and
internationally, as well as the Babies "R" Us format.

As of August 1, 2009, the company had $8.172 billion in total
assets; total current liabilities of $2.085 billion, long-term
debt of $5.496 billion, deferred tax liabilities of $55 million,
deferred rent liabilities of $269 million, and other non-current
liabilities of $372 million.  As of August 1, 2009, the company
had Toys "R" Us, Inc. stockholders' deficit of $214 million and
noncontrolling interest of $109 million, and total stockholders'
deficit of $105 million.

The Company carries a 'B2' probability of default rating from
Moody's, "B" issuer credit ratings from Standard & Poor's, and
"B-" long term issuer default rating from Fitch.


UBS AG: Former Employee Wants to Get Paid for Tax Evasion Infos
---------------------------------------------------------------
Brent Kendall at The Wall Street Journal reports that Bradley
Birkenfeld, a former UBS employee who was the key informant that
helped U.S. tax authorities build their case against UBS AG, is
looking to the Internal Revenue Service for a potential
multimillion-dollar award when he gets out.

The Journal relates that Mr. Birkenfeld, who went to prison for
helping UBS's clients evade taxes, said that the IRS had no case
against the Company, or against thousands of American tax cheats
without his help.  According to The Journal, Mr. Birkenfeld's
lawyer Dean Zerbe at Zerbe, Fingeret, Frank & Jadav said that his
client is entitled to a piece of the U.S. government's
$780 million settlement with UBS, and that he also has a claim to
a portion of the money that the IRS recovers from wealthy
Americans who hid assets in offshore accounts at UBS and at other
banks.

Under the 2006 tax-informant law, people who report big-dollar
cases of tax evasion will get an award of between 15% and 30% of
the tax proceeds that the IRS recovers.  The Journal notes that
this could mean a payout of millions of dollars for Mr. Birkenfeld
if the IRS determines that he qualifies.

The Journal states that Mr. Birkenfeld first filed for an IRS
award in 2007, but his lawyers in recent weeks have been working
to refine and boost his claim, until they presented in the IRS
Whistleblower Office a detailed factual record of how Mr.
Birkenfeld helped the government and how much lost tax revenue the
IRS has been able to recapture through to his assistance.

The Journal quoted Mr. Zerbe as saying, "A criminal action in one
area does not preclude you from seeking a reward in another area."
The report says that Mr. Birkenfeld's claim could take years to
resolve, as the IRS Whistleblower Office hasn't yet issued any
payouts based on the 2006 law.

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.


UNIVAR NV: Bank Debt Trades at 8.1% Off in Secondary Market
-----------------------------------------------------------
Participations in a syndicated loan under which Univar N.V. is a
borrower traded in the secondary market at 91.90 cents-on-the-
dollar during the week ended Oct. 16, 2009, according to data
compiled by Loan Pricing Corp. and reported in The Wall Street
Journal.  This represents a drop of 1.00 percentage points from
the previous week, The Journal relates.  The loan matures on
Oct. 11, 2014.  The Company pays 300 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 Oct. 16, among the 158 loans with five or more
bids.

Univar N.V. -- http://www.univarcorp.com/-- is one of the largest
distributors of industrial chemicals and providers of related
services to a diverse set of end markets in the US, Canada and
Europe.  In April 2007, the company purchased ChemCentral
Corporation, the fourth largest chemicals distributor in the US,
for a purchase price of about $650 million, which resulted in the
combined entities becoming the largest chemicals distributor in
North America.  The company had pro forma revenues (including
ChemCentral Corporation) of $8.3 billion for the LTM ended
June 30, 2007.


UNITED AIRLINES: Bank Debt Trades at 26% Off in Secondary Market
----------------------------------------------------------------
Participations in a syndicated loan under which United Airlines,
Inc., is a borrower traded in the secondary market at 74.36 cents-
on-the-dollar during the week ended Oct. 16, 2009, according to
data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents an increase of 0.51 percentage
points from the previous week, The Journal relates.  The loan
matures on Feb. 13, 2013.  United Air pays 200 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 Oct. 16, among the 158 loans
with five or more bids.

Based in Chicago, Illinois, UAL Corporation (NASDAQ: UAUA) --
http://www.united.com/-- is the holding company for United
Airlines, Inc.  United Airlines is the world's second largest air
carrier.  The airline flies to Brazil, Korea and Germany.

The company filed for Chapter 11 protection on Dec. 9, 2002
(Bankr. N.D. Ill. Case No. 02-48191).  James H.M. Sprayregen,
Esq., Marc Kieselstein, Esq., David R. Seligman, Esq., and Steven
R. Kotarba, Esq., at Kirkland & Ellis, represented the Debtors in
their restructuring efforts.  Fruman Jacobson, Esq., at
Sonnenschein Nath & Rosenthal LLP represented the Official
Committee of Unsecured Creditors.  Judge Eugene R. Wedoff
confirmed a reorganization plan for United on Jan. 20, 2006.  The
Company emerged from bankruptcy on Feb. 1, 2006.  (United Airlines
Bankruptcy News; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)

UAL Corp. carries a 'Caa1' probability of default rating from
Moody's, 'B-' long term foreign issuer credit rating from Standard
& Poor's, and 'CCC' long term issuer default rating from Fitch.


VEMICS INC: Demetrius & Company Raises Going Concern Doubt
----------------------------------------------------------
Demetrius & Company, L.L.C., in Wayne, New Jersey, expressed
substantial doubt about Vemics, Inc.'s ability to continue as a
going concern after auditing the Company's consolidated financial
statements for the years ended June 30, 2009, and 2008.  The
auditing firm said that the Company has incurred operating losses
since its inception and has a net working capital deficit.

The Company has an accumulated deficit of $29,627,071 at June 30,
2009.

Vemics, Inc. reported a net loss of $8,106,414 on revenues of
$347,096 for the year ended June 30, 2009, compared with a net
loss of $6,412,091 on revenues of $588,691 for the year ended
June 30, 2008.

Revenues for the year ended June 30, 2009 decreased by 41% to
$347,096 from $588,691 in 2008, due largely to a complete
suspension in sales of the NuScribe Voice Recognition Appliance
and Application.  The Company said the suspension in NuScribe
sales was planned.  The Company is redesigning this component for
bundling as an online application within the iMedicor portal.

Loss from operations, before extraordinary items, for the year
ended June 30, 2009, totaled $7,899,582 compared to $7,062,091 for
2008.  The increase in loss from operations for the year ended
June 30, 2009, was primarily due to the Company's focus on the
continued development of iMedicor and on the increase of the
iMedicor portal's user base.  The increase in losses from
operations is additionally attributed to two other factors: the
amortization of the iMedicor technology asset, which increased
depreciation, and amortization by approximately 56% from the
previous year, and; the increase in stock issued for fees and
services by 60% from the previous year.

At June 30, 2009, the Company's consolidated balance sheet showed
$7,629,408 in total assets, $6,688,070 in total liabilities, and
$941,339 in total stockholders' equity.

The Company's consolidated balance sheet at June 30, 2009, also
showed strained liquidity with $55,828 in total current assets
available to pay $5,419,074 in total current liabilities.

Full-text copies of the Company's consolidated financial
statements for the year ended June 30, 2009, are available for
free at http://researcharchives.com/t/s?4702

Based in Nanuet, New York, Vemics, Inc. builds portal-based,
virtual work and learning environments in healthcare and related
industries.  The Company's focus is twofold: iMedicor, the
Company's web-based portal which allows physicians and other
healthcare providers to exchange patient specific healthcare
information via the internet while maintaining compliance with all
Health Insurance Portability and Accountability Act of 1996
("HIPAA") regulations, and; recently acquired CleatLobby
technology, the Company's web-based portal adjunct which provides
for direct communications between pharmaceutical companies and
physicians for the dissemination of information on new drugs
without the costs related to direct sales forces.


VIRGIN MOBILE: To Hold Special Shareholders Meeting on Sprint Deal
------------------------------------------------------------------
A Special Meeting of Stockholders of Virgin Mobile USA, Inc., will
be held in the coming weeks for these purposes:

     -- To consider and vote on a proposal to adopt the Agreement
        and Plan of Merger, dated as of July 27, 2009, among
        Sprint Nextel Corporation, Sprint Mozart, Inc., a wholly
        owned subsidiary of Sprint Nextel, and Virgin Mobile USA;
        and

     -- To approve the adjournment of the meeting, if necessary or
        appropriate, to solicit additional proxies if there is an
        insufficient number of votes at the meeting to approve the
        proposal.

The Virgin Mobile USA board of directors has determined that the
merger agreement and the transactions contemplated by the merger
agreement, including the merger, are advisable and are fair to,
and in the best interests of, Virgin Mobile USA and its
stockholders and recommends that Virgin Mobile USA stockholders
vote "FOR" the proposal to adopt the merger agreement.

The Virgin Mobile USA board of directors has chosen the close of
business on [_______], 2009 as the "record date" that will
determine the stockholders who are entitled to receive notice of,
and to vote at, the meeting or at any adjournment or postponement
of the meeting.

Virgin Mobile USA's principal executive offices are located at 10
Independence Boulevard, in Warren, New Jersey.

All holders of record of outstanding shares of capital stock of
Virgin Mobile USA at the close of business on the record date are
entitled to receive notice of, and to vote at, the special meeting
and any adjournment or postponement thereof.  Adoption of the
merger agreement by Virgin Mobile USA's stockholders is a
condition to the merger and requires the affirmative vote of
holders of a majority of the combined voting power of all
outstanding shares entitled to vote on the proposal, voting
together as a single class.

A full-text copy of the preliminary proxy statement is available
at no charge at http://ResearchArchives.com/t/s?4713

                      About Virgin Mobile USA

Virgin Mobile USA, Inc. (NYSE:VM) is a mobile virtual network
operator, commonly referred to as an MVNO, offering prepaid, or
pay-as-you-go, and, following the acquisition of Helio LLC in
August 2008, postpaid wireless communications services, including
voice, data, and entertainment content, without owning a wireless
network.  The Company uses the "Virgin Mobile" name and logo under
license from Virgin Enterprises Ltd.  The Company offers its
services over the nationwide Sprint PCS network under the terms of
the PCS Services Agreement between the Company and Sprint Nextel
Corporation.

On July 28, 2009, Sprint Nextel and the Company announced that
their boards of directors have approved a definitive agreement for
Sprint Nextel to acquire the Company in an all equity deal.  Each
of the Company's stockholders, except for the Virgin Group and SK
Telecom, will receive the equivalent of $5.50 in Sprint Nextel
common shares for each share of the Company's Class A common
stock, but in no event will the exchange ratio be less than 1.0630
or greater than 1.3668.  The Virgin Group and SK Telecom will
receive 93.09% and 89.84%, respectively, of that received by the
Company's other stockholders.  The transaction is subject to the
approval of the Company's stockholders as well as customary
conditions and regulatory approvals.  Sprint Nextel and the
Company expect the transaction to close in the fourth quarter of
2009 or early 2010.

At June 30, 2009, the Company had $320.68 million in total assets
and $577.35 million in total liabilities.  At June 30, 2009, the
Company had $267.16 million in stockholders' deficit attributable
to Virgin Mobile USA Inc., $10.49 million in non-controlling
interest, and $256.66 million in total deficit.


WASHINGTON MUTUAL: Bank Workers Fight WaMu Over Retirement Assets
-----------------------------------------------------------------
ABI reports that Former banking employees have asked a judge to
not include money from their deferred compensation plans in the
estate of Washington Mutual Inc.'s bankruptcy, claiming that doing
so would be a violation of the Employee Retirement Income Security
Act.

Based in Seattle, Washington, Washington Mutual Inc. --
http://www.wamu.com/-- is a holding company for Washington Mutual
Bank as well as numerous non-bank subsidiaries.  The Company
operates in four segments: the Retail Banking Group, which
operates a retail bank network of 2,257 stores in California,
Florida, Texas, New York, Washington, Illinois, Oregon, New
Jersey, Georgia, Arizona, Colorado, Nevada, Utah, Idaho and
Connecticut; the Card Services Group, which operates a nationwide
credit card lending business; the Commercial Group, which conducts
a multi-family and commercial real estate lending business in
selected markets, and the Home Loans Group, which engages in
nationwide single-family residential real estate lending,
servicing and capital markets activities.

Washington Mutual Bank was taken over September 25 by U.S.
government regulators.  The next day, WaMu and its affiliate, WMI
Investment Corp., filed separate petitions for Chapter 11 relief
(Bankr. D. Del. 08-12229 and 08-12228, respectively).  Wamu owns
100% of the equity in WMI Investment.  Weil Gotshal & Manges
represents the Debtors as counsel.  When WaMu filed for protection
from its creditors, it listed assets of $32,896,605,516 and debts
of $8,167,022,695.  WMI Investment listed assets of $500,000,000
to $1,000,000,000 with zero debts.

Bankruptcy Creditors' Service Inc. publishes Washington Mutual
Bankruptcy News.  The newsletter tracks the Chapter 11 proceedings
of Washington Mutual Inc. (http://bankrupt.com/newsstand/or
215/945-7000).


WCI COMMUNITIES: Drywall Claimants Forgo Special Committee
----------------------------------------------------------
The Florida Chinese Drywall Claimants, through Monzack Mersky
McLaughlin ans Browder, P.A., have withdrawn their request to form
a special committee of Florida Defective Drywall Claimants in the
Chapter 11 cases of WCI Communities, Inc. and its debtor-
affiliates.

The Drywall Claimants previously requested that a special
committee will allow the Drywall Claimants to be adequately
represent as a distinct group of creditors and it will protect
rights and interests which will not be adequately safeguarded by
the UCC.

Headquartered in Bonita Springs, Florida, WCI Communities, Inc.
(Pink Sheets: WCIMQ) -- http://www.wcicommunities.com/-- is a
fully integrated homebuilding and real estate services company
with more than 50 years' experience in the design, construction
and operation of leisure-oriented, amenity rich master-planned
communities.  It has operations in Florida, New York, New Jersey,
Connecticut, Virginia and Maryland.  The Company directly employs
approximately 1,170 people, as well as approximately 1,800 sales
representatives as independent contractors.

The Company and 126 of its affiliates filed for Chapter 11
protection on August 4, 2008 (Bankr. D. Del. Lead Case No.
08-11643 through 08-11770).  On July 1, 2009, debtor-affiliates
WCI 2009 Corporation, WCI 2009 Management, LLC and WCI 2009 Asset
Holding, LLC filed separate Chapter 11 petitions (Case Nos. from
09-12269 to 09-12271).

Thomas E. Lauria, Esq., Frank L. Eaton, Esq., and Linda M. Leali,
Esq., at White & Case LLP, in Miami, Florida, represent the
Debtors as counsel.  Eric Michael Sutty, Esq., and Jeffrey M.
Schlerf, Esq., at Fox Rothschild LLP, represent the Debtors as
Delaware counsel.  Lazard Freres & Co. LLC is the Debtors'
financial advisor.  Epiq Bankruptcy Solutions LLC is the claims
and notice agent for the Debtors.  The U.S. Trustee for Region 3
appointed five creditors to serve on an official committee of
unsecured creditors.  Daniel H. Golden, Esq., Lisa Beckerman,
Esq., and Philip C. Dublin, Esq., at Akin Gump Strauss Hauer &
Feld LLP; and Laura Davis Jones, Esq., Michael R. Seidl, Esq., and
Timothy P. Cairns, Esq., at Pachulski Stang Ziehl & Jones LLP,
represent the committee in these cases.  When the Debtors filed
for protection from their creditors, they listed total assets of
$2,178,179,000 and total debts of $1,915,034,000.

With WCI's emergence from bankruptcy, the Troubled Company
Reporter concludes coverage of WCI Communities until facts and
circumstances, if any, emerge that demonstrate financial or
operational strain or difficulty at a level sufficient to warrant
renewed coverage.


WEST CORP: Bank Debt Trades at 6.23% Off in Secondary Market
------------------------------------------------------------
Participations in a syndicated loan under which West Corporation
is a borrower traded in the secondary market at 93.77 cents-on-
the-dollar during the week ended Oct. 16, 2009, according to data
compiled by Loan Pricing Corp. and reported in The Wall Street
Journal.  This represents a drop of 0.55 percentage points from
the previous week, The Journal relates.  The loan matures on
May 11, 2013.  The Company pays 237.5 basis points above LIBOR to
borrow under the facility.  The bank debt carries Moody's B1
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 Oct. 16, among the 158 loans
with five or more bids.

The Troubled Company Reporter on Oct. 9, 2009, said that Moody's
does not expect to take any immediate rating action following West
Corporation's announcement that it has filed for an initial public
offering of its common stock.  West indicated in its Form S-1
filing that it intends to use part of the net proceeds from the
offering to repay or repurchase indebtedness.

The last rating action on West Corporation was on May 8, 2007, at
which time Moody's lowered the senior secured credit facility
rating to B1 from Ba3 while affirming all other credit and
liquidity ratings.

Based in Omaha, Nebraska, West is a leading provider of business
process outsourcing services.  West has a B2 Corporate Family
Rating and a stable rating outlook.


WORKSTREAM INC: August 31 Balance Sheet Upside-Down by $7 Million
-----------------------------------------------------------------
Workstream Inc.'s consolidated balance sheet at August 31, 2009,
showed $22,152,261 in total assets and $29,175,526 in total
liabilities, resulting in a $7,023,265 stockholders' deficit.

The Company's consolidated balance sheet at August 31, 2009, also
showed strained liquidity with $3,638,818 in total current assets
available to pay $28,506,488 in total current liabilities.

The Company reported a net loss of $359,882 on net revenues of
$4,211,745 for the first quarter of fiscal 2010, compared with a
net loss of $2,051,582 on net revenues of $5,552,887 in the
corresponding period of fiscal 2009.

Earnings before interest, taxes, depreciation and amortization
(EBITDA) was $49,549 for the three months ended August 31, 2009, ,
compared to an EBITDA loss of $1,470,074 during the same period
last year.  Workstream defines EBITDA as earnings or loss from
continuing operations before interest, taxes, depreciation and
amortization, other income and expense, including effects of
foreign currency gains or losses, non-cash stock related
compensation, gain or loss on asset disposals or impairment,
merger and acquisition costs, and non-recurring goodwill
impairment, if applicable.

The Company believes that EBITDA provides useful information to
investors as it excludes transactions not related to the core cash
operating business activities including non-cash transactions.

Full-text copies of the Company's consolidated financial
statements for the first quarter of fiscal 2010 ended August 31,
2009, are available for free at:

            http://researcharchives.com/t/s?470a

                     Going Concern Doubt

As reported in the Troubled Company Reporter on September 17,
2009, Cross, Fernandez & Riley, LLP, in Orlando, Florida,
expressed substantial doubt about the Company's ability to
continue as a going concern in its opinion on the audited
financial statements of the Company as of and for the year ended
May 31, 2009.

The Company has incurred substantial losses in recent years and
months and, as a result, has a stockholders deficit of $7,023,265
as of August 31, 2009.  Losses for the three months ended
August 31, 2009, were $359,882 and losses for the years ended
May 31, 2009, and 2008, were $4,856,356 and $52,616,875,
respectively.  The Company's ability to continue as a going
concern depends, primarily, upon its ability to successfully
refinance approximately $20.7 million of its senior secured notes
payable (the "Notes"), including accrued interest thereon that
went into default on May 22, 2009, due to the Company's suspension
of trading on the NASDAQ Stock Market as a result of its
stockholders deficit.

                Liquidity and Capital Resources

As of August 31, 2009, the Company has approximately $1,068,000 in
cash and cash equivalents.  Working capital deficit was
$24,867,670.

In August 2009, the Company signed a term sheet with the holders
of the Notes, whereby the holders agreed to restructure the Notes.
The term sheet provides that the holders would exchange the Notes
and the accrued interest thereon (approximately $20.7 million as
of August 31, 2009) into $9.5 million of new senior secured notes
with the balance as convertible notes.  The proposed new notes
would accrue interest at a rate of 9.5% per annum and have a
maturity date of July 31, 2012.  The Company and the holders of
the Notes are negotiating the final terms of the refinancing
documents and expect to close the transaction during the Company's
second fiscal quarter ending November 30, 2009.

Due to significant reductions in operating expenses in the fourth
quarter of fiscal 2008 and throughout fiscal 2009, management
believes the current liquidity will be sufficient to meet its
anticipated working capital and capital expenditure requirements
upon the refinancing of the Notes.  Based on an analysis of the
Company's current contracts, forecasted new business, the
Company's current backlog and current expense level, management
believes the Company will meet its cash flow needs for fiscal 2010
assuming the successful refinancing of the Notes.

Headquartered in Maitland, Florida, Workstream Inc. (WSTM.OB) --
http://www.workstreaminc.com/-- provides on-demand compensation,
performance and talent management solutions and services that help
companies manage the entire employee lifecycle-from recruitment to
retirement.  Workstream's TalentCenter provides a unified view of
all Workstream products and services including Recruitment,
Performance, Compensation, Development and Transition. Access to
TalentCenter is offered on a monthly subscription basis under an
on-demand software delivery model to help companies build high-
performing workforces, while controlling costs.


YRC WORLDWIDE: Lenders Suspend Liquidity Covenant Until Oct. 30
---------------------------------------------------------------
YRC Worldwide Inc. has finalized amendments of its credit
facilities that extend to October 30, 2009, certain provisions
under the previous amendments.  Specifically, the amendments
extend the expiration of the revolver reserve amount, the
suspension of the minimum liquidity covenant, and the due date for
the asset-backed securitization commitment fee of $10 million.

                    Credit Agreement Amendment

On October 9, 2009, the Company and certain of its subsidiaries
entered into Amendment No. 11 to the Credit Agreement, which
amends the Credit Agreement, dated as of August 17, 2007 (as
amended prior to the date hereof, the "Credit Agreement"), among
the Company, certain of its subsidiaries, JPMorgan Chase Bank,
National Association, as agent, and the other lenders that are
parties thereto. The Credit Agreement continues to provide the
Company with a $950 million senior revolving credit facility,
including sublimits available for borrowings under certain foreign
currencies and for letters of credit, and a senior term loan in an
aggregate outstanding principal amount of approximately
$111.5 million.

                        Financial Covenants

The Credit Agreement Amendment suspends the requirement that the
Company maintain liquidity equal to or greater than $100 million
at all times until October 30, 2009.

                         Revolver Reserve

The Credit Agreement Amendment extends the date upon which the
revolving commitments would be permanently reduced by an amount
equal to the then current revolver reserve amount to 12:00 a.m.,
October 30, 2009.  The Credit Agreement Amendment also extends to
October 29, 2009 the date through which the net cash proceeds
received by the Company from certain real estate asset sales will
be applied to prepay the outstanding revolving loans, and 50% of
such prepayment amount will increase the revolver reserve amount.

The Credit Agreement Amendment provides the Company access to up
to $50 million of the revolver reserve amount through October 29,
2009 for specified operating needs without the approval of
lenders.

                    Prepayments and Borrowings

If the Company and its domestic subsidiaries (other than Yellow
Roadway Receivables Funding Corporation), collectively, have more
than $125 million ($100 million if the Company has outstanding
Permitted Interim Loans) in unrestricted Permitted Investments (as
defined in the Credit Agreement) as of any business day and the
two previous business days -- Allowable Unrestricted Cash -- then
the Company must prepay the outstanding revolving loans under the
Credit Agreement in an amount equal to such excess (without a
corresponding permanent reduction of the revolving commitments)
the next business day.  In addition, the Company may only borrow
funds or request the issuance of letters of credit under the
Credit Agreement to the extent that the Allowable Unrestricted
Cash is less than $100 million.

                         Events of Default

The Credit Agreement Amendment modifies the events of default in
the Credit Agreement related to certain operating leases to reduce
the event of default threshold from $20 million to $5 million. An
event of default under the Credit Agreement will occur if (i) fees
or other amounts in excess of $5 million are paid to satisfy
obligations, or to pay creditors who have exercised (or threatened
to exercise) remedies, in each case, under the operating leases
due to a default, event of default or acceleration thereunder or
(ii) if an acceleration of obligations in excess of $5 million
(including any Fees) under the operating leases occurs and remains
uncured.

                      ABS Facility Amendment

On October 9, 2009, the Company, as Performance Guarantor, and the
parties to the Third Amended and Restated Receivables Purchase
Agreement, dated as of April 18, 2008, among Yellow Roadway
Receivables Funding Corporation, as Seller; Falcon Asset
Securitization Company LLC, Three Pillars Funding LLC and
Amsterdam Funding Corporation, as Conduits; the financial
institutions party thereto, as Committed Purchasers; Wachovia
Bank, National Association, as Wachovia Agent and LC Issuer,
SunTrust Robinson Humphrey, Inc., as Three Pillars Agent; The
Royal Bank of Scotland plc (successor to ABN AMRO Bank N.V.), as
Amsterdam Agent; and JPMorgan Chase Bank, N.A., as Falcon Agent
and Administrative Agent entered into an amendment to the ABS
Facility.  The ABS Amendment suspends the requirement that the
Company maintain liquidity equal to or greater than $100 million
at all times until October 30, 2009.

The Co-Agents also suspended the due date until October 30, 2009
of the $10.0 million fee that was due on October 13, 2009. This
fee will be payable to the Co-Agents under the ABS Facility if the
ABS Facility has not been terminated by October 30, 2009 and the
Company does not have a corporate credit rating of B/B2 or better
from Standard & Poor's and Moody's Investors Service, Inc.,
respectively, by such date.

"We believe we will have a long-term solution with our lenders in
the very near term," stated Bill Zollars, Chairman, President and
CEO of YRC Worldwide.  "By extending the revolver reserve, we
retain the flexibility needed to reach an agreement with the
lenders that will fully support our comprehensive plan. We are
also continuing active dialogue with our bondholders who remain an
important part of our plan," continued Mr. Zollars.

                        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.


* 2009's Bank Closings Rise to 99 on San Joaguin Bank Collapse
--------------------------------------------------------------
San Joaquin Bank, Bakersfield, California, was closed October 16
by the California Department of Financial Institutions and the
Federal Deposit Insurance Corporation as receiver.  The closing
raised this year's total closings to 99.

To protect the depositors, the FDIC entered into a purchase and
assumption agreement with Citizens Business Bank, Ontario,
California, to assume all of the deposits of San Joaquin Bank.

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)
  -----------       ----------   --------------      -----------
San Joaquin Bank        $775.0    Citizens Business       $103.0
Warren Bank, Warren     $538.0    Huntington Nat'l        $275.0
Southern Colorado        $31.9    Legacy Bank, Wiley        $6.6
Jennings State Bank      $56.3    Central Bank, Stillwater $11.7
Georgian Bank         $2,000.0    First Citizens B&T      $892.0
Irwin Union FSB         $493.0    First Financial Bank }  $850.0
Irwin Union B&T       $2,700.0    First Financial Bank }
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


* Auto Suppliers Want Senate to Boost Credit to Industry
--------------------------------------------------------
David Shepardson at Detroit News Washington Bureau reports that
U.S. auto suppliers have urged the Senate to boost credit to the
industry.  The administration created a $5 billion supplier
support program for General Motors Co. and Chrysler Group LLC
Tier 1 suppliers in March 2009, which since whittled down to
$3.5 billion that many find insufficient and doesn't cover enough
suppliers, Detroit News notes.  Citing Original Equipment
Suppliers Association industry analysis & economics vice president
Dave Andrea, Detroit News states that the Senate should assure
sufficient capital for restructuring, consolidating, and
diversifying the industry; address specific needs of small
suppliers for sufficient capital for ongoing operations; and
create technology funding programs that support long-term
innovation.


* Treasury Calling on Big Banks to Repay Bailout Now
----------------------------------------------------
ABI reports that Concluding that some of the nation's biggest
banks are in good enough shape to raise capital from private
investors, senior Treasury officials would like more of them to
repay billions of dollars in taxpayer money that bailed them out
over the last year.


* Bankruptcy Filings Rise in Tennessee in Third Quarter 2009
------------------------------------------------------------
Andy Meek at The Memphis Daily News reports that more debtors
filed for bankruptcy in the U.S. Bankruptcy Court for the Western
District of Tennessee in the third quarter 2009, compared to the
same period last year.

Memphis Daily relates that bankruptcy filings in the third quarter
2009, compared to third quarter 2008, is a little less than 1%,
compared to increases of 15% and 6% in the first quarter and
second quarter of this year, respectively, when comparing to the
same periods in 2008.  Memphis Daily states that about 3,353
bankruptcy petitions were filed in the third quarter 2009,
compared to 3,327 in the same quarter in 2008 and 3,097 in the
third quarter 2007.

Memphis Daily quoted Corky Neale, director of research and
innovation for the RISE (Responsibility, Initiative, Solutions,
Empowerment) Foundation, as saying, "It's no surprise, since we've
got much higher levels of unemployment.  If we look at what's
driving bankruptcies -- the whole thing that's always been driving
them is job loss, loss of hours, divorces and health issues.  And,
fundamentally, I've been hearing more and more and more people who
have gotten into deep, hot water financially because of medical
care costs."


* AlixPartners Posts European Companies Restructurings Survery
--------------------------------------------------------------
A fresh wave of restructurings of private equity-owned European
companies is expected over the coming year, according to a new
survey by AlixPartners, the global business-advisory firm.  Two-
thirds of more than 100 global restructuring experts surveyed
expect up to twice the volume of such restructurings over this
coming year compared to the last, while a further 16% believe the
volume will be even higher than that.

Sectors expected to undergo the most restructuring activity over
the course of the next year are the European commercial real
estate and automotive industries, with one in four experts naming
these sectors as the most likely for company and financial work-
outs.  The expectations for the European automotive industry are
twice as severe as expectations recorded in a similar AlixPartners
survey last year.

The AlixPartners survey a year ago found that 54% t of respondents
believed the retail industry was in the most danger of being
hardest hit by restructurings, closely followed by 37% of
respondents who named the financial sector as most at risk.
AlixPartners' current survey shows that the focus of concern has
shifted, with only 10% of experts now concerned about the retail
and consumer sectors and 7% worried about the financial services
industries.

Meantime, 8% of experts expect that the European building and
construction industries will be hardest hit by restructurings over
the coming year. And E uropean manufacturing generally is seen by
18% as a sector that may undergo severe financial and operational
changes.

The grim outlook for manufacturing is reflected in a prediction by
31% of respondents who said that the shape of European recovery
will be U-shaped -- long and slow -- while a further 41% predict a
bathtub-shaped recovery -- a very long and very slow recovery.

Peter Fitzsimmons, co-president of AlixPartners, said: "As we
enter what the vast majority of restructuring experts believe will
be at best a long slow recovery in Europe, time may be running out
for certain private equity-owned businesses -- including for those
outside Europe with portfolio companies in Europe.  Short- and
mid-term flexibility by bank lenders may have kept many businesses
afloat over the past year while others, including many private
equity-owned firms, may have been hanging on to the hope that
credit conditions would suddenly improve."

"The hour is approaching for many companies all over the world
where it will simply be a case of either operational restructuring
or face the risk of failing," said Lisa Donahue, a managing
director of AlixPartners and co-lead of the firm's turnaround and
restructuring practice.  Mr. Donahue added, "Addressing the cost
and operating fundamentals as early as possible gives companies
more options and flexibility, whereas waiting only compounds the
damage and causes tough decisions to be forced upon management.
In the short- to medium-term, credit conditions don't look set to
suddenly change for the better and tough decisions will need to be
made for many of those highly geared businesses if their operating
models are not designed for the long haul."

The AlixPartners survey found that 60% of restructuring experts
polled believe access to credit and loans is the key incentive to
improve the European economy, followed by cuts in direct taxation,
an approach mentioned by 48% of experts.

The findings are based on a survey of more than 100 turnaround and
restructuring professionals including specialist bankers, lawyers
and corporate financiers from Europe and North America.

                       About AlixPartners

AlixPartners -- http://www.alixpartners.com/-- is a leading
global business-advisory firm offering services across four main
disciplines -- operational performance improvement and strategic
consulting, financial restructuring and bankruptcy reorganization,
litigation consulting and financial advisory services. The firm's
expertise is in helping clients anticipate, evaluate and
successfully resolve urgent, high-impact business challenges in an
increasingly complex legal, regulatory and economic landscape.
Drawing on the experience of more than 900 employees from 14
offices across North America, Europe and Asia, the firm commits
small teams of seasoned professionals to deliver results when it
really matters.


* Fulbright & Jaworski Posts 2009 Litigation Trends Survey
----------------------------------------------------------
Companies are seeing a litigation wave that corporate counsel
expect to swell in the coming year, according to respondents of
the 2009 Fulbright & Jaworski L.L.P. Litigation Trends Survey.

Corporate counsel say they are steeling themselves for a big year
of litigation with 42% of U.S. respondents anticipating an
increase in legal disputes their companies will face in the next
12 months.  That is up from 34% of last year's respondents.  The
expectation comes during a year when 83% of U.S. respondents
reported that new litigation has been commenced against their
companies in the past year, up from 79% last year.

In the year to come, respondents from large-cap companies reported
the highest expectation of litigation, with 52% forecasting an
increase in legal disputes, while 47% of public company
respondents foresee a jump in disputes.  The economy was cited as
the primary reason for these expectations by 38% of U.S.
respondents and 34% of U.K. respondents.

More than one-third of companies say the economic downturn has
resulted not only in an increase in their litigation caseloads,
but also their use of alternative fees.  Tighter cost control,
more than anything else, is the most important way in which the
economic crisis has affected litigation management, respondents
say.

"Generally, litigation rises in an economic downturn as regulators
tend to step up enforcement, laid-off workers head to court and
companies need to file more suits in order to collect on money
owed," said Stephen C. Dillard, head of Fulbright's global
litigation practice.  "Perhaps most telling about this year's
results is that companies across the spectrum expect no
substantial decreases in any area of litigation."

This is the sixth year that Fulbright has polled corporate law
departments in the U.S. and U.K. on the state of global
litigation.  The survey, initially launched by Fulbright in 2004,
is the largest canvas of corporate counsel on litigation issues
and trends.

         Litigation: Where Has it Gone? Where is it Going?

Companies agree on what is bothering them most.  From small-cap to
large-cap, from private to public, from the U.S. to the U.K., the
main problems are the same: In light of the downturn, companies
face big increases in bankruptcy, contracts and labor/employment
litigation.  More modest increases have been cited in intellectual
property, insurance and regulatory actions.

Yet, while contracts and labor/employment actions affect companies
across industries, the bankruptcy ground swell has left one
industry -- healthcare -- relatively untouched, with only 6% of
healthcare respondents reporting a rise in bankruptcy and
reorganization litigation.

What may lie ahead? Regulatory investigations and whistleblower
allegations are expected to eat up litigation resources in the
year ahead.  Looking to 2010, 16% of all respondents (and 23% of
large-caps) say they expect the number of internal investigations
involving their company to increase.  Industry-wise, approximately
20% each of financial services, insurance and technology companies
expect internal investigations to rise in the coming year.  This
tracks expected increases in whistleblower cases: 24% of all
respondents and 31% of large-cap companies expect the number of
claims brought by whistleblowers in their industries to go up.

                       A Brief Look Back

In both Fulbright's 2006 and 2007 surveys respondents reported
declines in actual litigation filings.  Then, in last year's
survey, corporate counsel anticipated an uptick in new actions and
government probes.

Last year's predictions were right.  Large-cap companies took the
brunt of big cases during the past 12 months, with 39% reporting
having faced one or more $20 million-plus suit last year, and a
striking 54% of large-caps reporting having a case go to trial in
the past 12 months. (In fact, large portions of companies across
industries faced trial last year, with the exception being real
estate companies, of which 13% went to trial.)

With bigger size sometimes comes bigger payouts: Of the 97 large-
cap companies that had a case go to trial last year, 15% report
higher damage awards than prior periods versus 2% of large-caps
reporting lower awards.

On the regulatory front, one-third of respondents report increases
in external regulatory inquiries in the past three years.
However, nearly half of U.S. companies (47%), report having
retained outside counsel for assistance in government and
regulatory investigations.  When broken down by size and industry,
50% of large-cap companies and a notable 62% of healthcare
companies report retaining outside counsel for assistance in
government and regulatory investigations.  The rate of regulatory
actions and investigations was far lower on the other side of the
Atlantic.

"Given the overall climate, and the down market's uncovering of
fraud cases, it is no wonder in-house counsel report seeing more
active regulators and an expectation that the number of
investigations will increase," Mr. Dillard said.

The Department of Justice, the Environmental Protection Agency and
states attorneys general have been particularly active.  Over the
past year, 19% of respondents retained counsel for investigations
by the Securities and Exchange Commission.

                   Gearing Up for Litigation

What have in-house counsel done to gird their companies for legal
battle? Hire and budget.

This year, 48% of large-cap respondents indicate they now employ
six or more in-house lawyers to manage or conduct litigation, up
from 26% last year.  It appears, however, that in-house hiring
will cool. Only 11% of respondents forecast an increase in the
number of in-house litigators over the next 12 months.

With litigation on the rise and resources on the wane, Fulbright
asked in-house counsel about their planned budgets for the coming
year.  Budget increases largely track anticipated areas of
concern: 18% of respondents say they plan to increase their budget
for labor/employment litigation; 15% will spend more on
bankruptcy; and 14% will up the amount spent on contract disputes.
Meanwhile, 11% say they will spend more on regulatory and
investigations work, while 16% are planning to spend more on e-
discovery.

Where will all this money come from? Not necessarily from other
areas of litigation.  Only 6% of large-cap companies plan to
decrease their budgets in other areas, such as antitrust and
trade, personal injury and environmental litigation.  Slightly
more public companies than private companies expect to decrease
their litigation budgets.  However, when taken by industry,
planned decreases are most prominent in healthcare, with 12% of
respondents planning to lower their spend on personal injury cases
and 15% planning decreases in the area of professional
malpractice.

"While companies aren't necessarily spending less on litigation,
in-house counsel are finding other ways to cut costs," Mr. Dillard
said.

Cost-cutting measures include in-sourcing e-discovery, using law
firms with specialized e-discovery practices and outsourcing
certain e-discovery functions through preferred provider
relationships. Stricter document retention policies, such as
systematic destruction, also help keep discovery costs down.

The 2009 survey asked companies to consider, among other things,
what types of cases they fear most, where they are spending their
budgets and how they are adjusting their approaches to litigation
management in light of the downturn.

                  Fulbright & Jaworski L.L.P.

Founded in 1919, Fulbright & Jaworski L.L.P. is a leading full-
service international law firm, with nearly 1,000 lawyers in 16
locations in Austin, Beijing, Dallas, Denver, Dubai, Hong Kong,
Houston, London, Los Angeles, Minneapolis, Munich, New York,
Riyadh, San Antonio, St. Louis and Washington, D.C. Fulbright
provides a full range of legal services to clients worldwide.

The 2009 BTI survey of FORTUNE 1000 general counsel chose
Fulbright as "The BTI Client Service 30" and Corporate Board
Member magazine named Fulbright among the top 20 corporate law
firms in the U.S. in their survey of board members of public
companies. For more information, please visit
http://www.fulbright.com/


* Greenberg Traurig Expands Tampa Office & Bankruptcy Practice
--------------------------------------------------------------
Greenberg Traurig, LLP, has continued expansion of its Tampa
office and its Business Reorganization and Bankruptcy Practice.

Danielle Kemp, who joins Greenberg Traurig as an associate, brings
extensive bankruptcy experience, representing both debtors and
creditors in Chapter 11 bankruptcy matters, as well as litigating
numerous bankruptcy claims and preference actions.

At Greenberg Traurig, she will focus on working with clients in
Florida on business reorganizations, creditors' rights, and
commercial litigation.

Ms. Kemp previously practiced at Latham & Watkins LLP in Chicago,
where she gained experience in a wide variety of bankruptcy
issues, including bankruptcy litigation matters.  She received her
J.D., with honors, from the University of Chicago Law School; her
M.Ed. from the University of Florida; and her B.A.E., with honors,
from the University of Florida.  She is a member of the Florida
and Illinois Bars and the Tampa Bay Bankruptcy Bar Association.

"Danielle's experience will provide additional breadth and depth
to our Bankruptcy and Litigation Practices in Florida," said David
Weinstein, Managing Shareholder of Greenberg Traurig's Tampa
office.  "We are very pleased to have added her to our
capabilities in Central Florida."  The office has grown from four
to more than 20 lawyers since opening in August 2006.

                     About Greenberg Traurig

Greenberg Traurig, LLP -- http://www.gtlaw.com-- is an
international, full-service law firm with approximately 1750
attorneys serving clients from more than 30 offices in the United
States, Europe and Asia.  In the U.S., the firm has more offices
than any other among the Top 20 on The National Law Journal's 2008
NLJ 250.  In the U.K., the firm operates as Greenberg Traurig
Maher LLP.  Additionally, Greenberg Traurig has strategic
alliances with the following independent law firms: Studio Santa
Maria in Milan and Rome, TA Lawyers GKJ in Tokyo, and Weber Law
Office in Zurich.  The firm was Chambers and Partners' USA Law
Firm of the Year in 2007 and among the Top 3 in the International
Law Firm of the Year at the 2009 The Lawyer Awards.


* K&L Gates Nabs Sonnenschein Bankruptcy Pro
--------------------------------------------
Law360 reports that K&L Gates LLP has scooped up bankruptcy,
insolvency and creditors' rights expert Michael B. Lubic, who
joins the firm as a partner in its bankruptcy and insolvency
practice.


* Legal Helpers/Macey & Aleman Launches National Offices
--------------------------------------------------------
Legal Helpers/Macey & Aleman has opened two new law offices to
better serve their clients across the United States.  The two
newest locations of the Legal Helpers network of bankruptcy and
debt restructure attorneys are located in Overland Park, Kansas
(Kansas City, Missouri) and Brooklyn Park, Minnesota.  This brings
the firm's total offices to 79, in 20 states across the country.

In addition to the new offices in Kansas and Minnesota, the
current Legal Helpers offices in Las Vegas, Nevada, and St.
Petersburg, Florida, have relocated their offices.

New Legal Helpers offices:

     * 7300 West 110th Street
       Overland Park, Kansas 66210
      (Hours: Thursdays 9:00 a.m. - 5:00 p.m.)

    * 7040 Lakeland Avenue; Suite 205B
      Brooklyn Park, Minnesota 55428
      (Hours: Tuesdays 9:00 a.m. - 6:00 p.m. &
       Saturdays 9:00 a.m. - 2:00 p.m.)

Relocated Legal Helpers offices:

    * 538 First Avenue North
      St. Petersburg, Florida 33701

    * 1701 W. Charleston Boulevard; Suite 320
      Las Vegas, Nevada 89102

Macey & Aleman/Legal Helpers -- http://www.legalhelpers.com-- is
a bankruptcy law firm.


* Olshan Grundman Client Obtains $44 Million Jury Verdict
---------------------------------------------------------
Olshan Grundman Frome Rosenzweig & Wolosky LLP announced that Kyle
C. Bisceglie, as trial counsel, Renee M. Zaytsev and other Olshan
attorneys including Herbert C. Ross and Joshua S. Androphy won a
$44 million jury award in the U.S. District Court for the District
of New Mexico in Albuquerque for client Guidance Endodontics, LLC.
The verdict against Dentsply International, Inc. and Dentsply's
endodontics subsidiary, Tulsa Dental Products, LLC, is reputed to
be the largest current standing verdict in New Mexico state or
federal court history.  Olshan's co-counsel in New Mexico was
Modrall, Sperling, Roehl, Harris and Sisk, PA led by its
distinguished shareholder John J. Kelly, Esq.

The three-week trial from September 18, 2009 to October 9, 2009
before U.S. District Court Judge James O. Browning to a nine
member jury was the culmination of multi-year, multi-jurisdiction
litigations between Guidance, Dentsply and Tulsa Dental.  In this
case, Guidance sued Dentsply and Tulsa Dental on November 21, 2008
seeking damages and injunctive relief arising from multiple
breaches of an exclusive manufacturing and supply agreement, anti-
competitive and unfair business practices under the New Mexico
Unfair Practices Act and violation of the Lanham Act.  The Court
granted Guidance both a temporary restraining order and
preliminary injunction in eight days of hearings in December 2008
and January 2009.  Dentsply and Tulsa Dental filed multiple claims
of their own against Guidance and its founder, Dr. Charles J.
Goodis.

At trial, Guidance alleged that the defendants intentionally
thwarted Guidance's business by refusing to supply endodontic
instruments as stipulated in the agreement between the companies.
Additionally, Guidance claimed that Dentsply and Tulsa Dental
disparaged Guidance, used their position as Guidance's supplier to
their own competitive advantage and targeted Guidance and its
customers.  Guidance argued that defendants' motive was to retain
defendants' dominant market share and high prices in the face of
Guidance's low cost provider model of business.

The case was tried approximately ten months after Guidance sued.
Guidance sought $6.7 million in compensatory and $52 million in
punitive damages, and ultimately won $4 million in compensatory
damages and $40 million in punitive damages.  As part of its
verdict, the jury found for Guidance on two claims for breach of
contract, breach of the covenant of good faith and fair dealing
and willful breach of the New Mexico Unfair Trade Practices Act.

"We are pleased with the jury's decision," said Mr. Bisceglie.
"Clearly the jury sent a message to Dentsply about its business
practices, and our hope is that Dentsply will heed and respect the
jury's decision."  The jury verdict could have far-reaching
consequences for the endodontic and dental industry.

                       About Olshan Grundman

Olshan Grundman Frome Rosenzweig & Wolosky LLP is a dynamic, mid-
size law firm with offices in Park Avenue Tower in Manhattan.  The
firm has been consistently recognized by its peers and clients as
a leading U.S. law firm for complex litigation, corporate and
securities law, real estate, bankruptcy and creditors' rights,
intellectual property and licensing, employment and taxation.


* Sean Coffey to Retire From Bernstein Litowitz Berger & Grossmann
------------------------------------------------------------------
Bernstein Litowitz Berger & Grossmann LLP disclosed that Senior
Partner John P. Coffey will retire from the Firm, effective
tomorrow, to explore on a full-time basis a potential bid to
become the next Attorney General of the State of New York.

Born in the Bronx and raised on Long Island, Mr. Coffey is a
former federal prosecutor and retired Navy Captain.  Mr. Coffey
joined BLB&G in 1998 and has played a leading role in a number of
the Firm's most significant litigations during his tenure.  In
2002, just days after his opening statement in the trial arising
out of the collapse of the Baptist Foundation of Arizona, the
largest non-profit bankruptcy in U.S. history, Mr. Coffey and his
BLB&G team obtained a $217 million settlement from former BFA
auditor Arthur Andersen LLP, one of the largest amounts ever paid
by an accounting firm.  Mr. Coffey was also lead trial counsel in
the landmark WorldCom Securities Litigation, in which the Firm
recovered over $6 billion for investors in the now defunct telecom
concern.  The WorldCom litigation, which culminated in five weeks
of trial in Manhattan federal court in 2005, was groundbreaking on
numerous levels, not least in that, for the first time in history,
investors successfully recovered over $50 million personally from
the pockets of former WorldCom officers and outside directors.

"I have deep affection for my colleagues and clients at Bernstein
Litowitz and am exceptionally proud of the results we have
achieved on behalf of defrauded investors and victims of
discrimination," Mr. Coffey said, "but the pull to return to full-
time public service is too strong to resist, particularly when so
many critical State-wide issues must be addressed."  Mr. Coffey
added, "It has become increasingly clear that New Yorkers are
looking to Andrew Cuomo as the person best able to tackle the
enormous challenges facing our State, and if Andrew answers the
call to run for Governor, our State will need another strong and
capable advocate to serve as our next Attorney General.  I believe
I can be that advocate.  I intend to spend the coming weeks and
months traveling across our State listening to the concerns of New
Yorkers and earning their trust and consideration as the best
person to succeed Andrew Cuomo as Attorney General."

The Democratic primary for State-wide offices will be held in
September 2010.

Max Berger, the Senior Founding Partner of BLB&G, said that Mr.
Coffey's departure was bittersweet: "Sean is as fine a litigator
as you'll ever find and a dear friend to me and all his partners.
He embodies the core values of integrity and professionalism our
Firm represents.  Sean's presence at the Firm will be sorely
missed but we are very supportive of his continued commitment to
public service and I am very proud of all that we have
accomplished in over a decade of working together.  We know he
would make a tremendous AG."

For his work with the Firm, Mr. Coffey has been profiled by The
Wall Street Journal, The American Lawyer, BusinessWeek, and
Bloomberg Markets, among numerous other media outlets, and he and
Mr. Berger were named two of the 2005 "Winning Attorneys of the
Year" by the National Law Journal for their work on the WorldCom
litigation.

                          About BLB&G

Founded in 1983, BLB&G is widely recognized as one of the nation's
top litigation boutiques.  The Firm has obtained over $20 billion
in recoveries for investors and achieved precedent setting
corporate governance reforms on behalf of its institutional
investor clients.  In addition to obtaining unprecedented monetary
recoveries, the Firm has litigated numerous seminal cases
establishing precedents that have increased market transparency,
held wrongdoers accountable, and changed corporate business
practices in groundbreaking ways.  BLB&G has also represented
victims of discrimination in some of the most notable anti-
discrimination litigation in U.S. history, including the landmark
Texaco race discrimination settlement in the late 1990s.


* BOND PRICING -- For the Week From October 12 to 16, 2009
----------------------------------------------------------
  Company             Coupon        Maturity     Bid Price
  -------             ------        --------     ---------
155 E TROPICANA        8.75        4/1/2012          1.25
ABITIBI-CONS FIN       7.88        8/1/2009         13.00
ADVANTA CAP TR         8.99      12/17/2026          5.00
ALERIS INTL INC       10.00      12/15/2016          0.85
AMBAC INC              9.38        8/1/2011         56.00
AMBASSADORS INTL       3.75       4/15/2027         46.25
AMBASSADORS INTL       3.75       4/15/2027         43.75
AMER GENL FIN          3.88      11/15/2009         97.60
AMER GENL FIN          4.25      11/15/2009         96.10
AMER GENL FIN          5.25       7/15/2010         80.00
AMER GENL FIN          5.65       7/15/2010         79.00
AMER GENL FIN          8.75       9/15/2012         38.00
AMR CORP              10.40       3/10/2011         46.00
AMR CORP              10.45      11/15/2011         49.00
ANTHRACITE CAP        11.75        9/1/2027         40.75
ANTIGENICS             5.25        2/1/2025         39.04
APRIA HEALTHCARE       3.38        9/1/2033         58.00
ARCO CHEMICAL CO      10.25       11/1/2010         66.00
BANK NEW ENGLAND       8.75        4/1/1999         10.00
BANK NEW ENGLAND       9.88       9/15/1999         10.03
BANKUNITED FINL        3.13        3/1/2034          7.30
BELL MICROPRODUC       3.75        3/5/2024         40.00
BOISE CASCADE CO       9.45       11/1/2009         97.00
BOWATER INC            6.50       6/15/2013         25.50
BOWATER INC            9.38      12/15/2021         23.00
BOWATER INC            9.50      10/15/2012         23.75
BROOKSTONE CO         12.00      10/15/2012         47.25
CALLON PETROLEUM       9.75       12/8/2010         41.00
CAPMARK FINL GRP       7.88       5/10/2012         20.50
CAPMARK FINL GRP       8.30       5/10/2017         20.50
CCH I LLC              9.92        4/1/2014          1.19
CCH I LLC             10.00       5/15/2014          1.19
CCH I LLC             11.75       5/15/2014          1.19
CCH I LLC             12.13       1/15/2015          1.19
CCH I/CCH I CP        11.00       10/1/2015         18.00
CCH I/CCH I CP        11.00       10/1/2015         15.00
CHAMPION ENTERPR       2.75       11/1/2037         17.00
CHARTER COMM HLD       9.92        4/1/2011          1.00
CHARTER COMM HLD      10.75       10/1/2009          2.00
CHARTER COMM INC       6.50       10/1/2027         31.75
CIT GROUP INC          3.85      11/15/2009         65.00
CIT GROUP INC          3.95      12/15/2009         58.00
CIT GROUP INC          4.05       2/15/2010         59.00
CIT GROUP INC          4.25        2/1/2010         62.97
CIT GROUP INC          4.25       9/15/2010         58.20
CIT GROUP INC          4.30       3/15/2010         59.50
CIT GROUP INC          4.30       6/15/2010         54.75
CIT GROUP INC          4.35       6/15/2010         58.00
CIT GROUP INC          4.45       5/15/2010         57.38
CIT GROUP INC          4.60       8/15/2010         58.00
CIT GROUP INC          4.75      12/15/2010         62.50
CIT GROUP INC          4.80      12/15/2009         59.99
CIT GROUP INC          4.85      12/15/2009         64.25
CIT GROUP INC          4.85       3/15/2010         61.00
CIT GROUP INC          4.90      12/15/2010         57.38
CIT GROUP INC          5.00      11/15/2009         59.50
CIT GROUP INC          5.00      11/15/2009         62.00
CIT GROUP INC          5.00      12/15/2010         57.38
CIT GROUP INC          5.00       3/15/2011         56.00
CIT GROUP INC          5.00       3/15/2011         55.00
CIT GROUP INC          5.05      11/15/2009         70.10
CIT GROUP INC          5.05       2/15/2010         55.20
CIT GROUP INC          5.05       3/15/2010         59.50
CIT GROUP INC          5.05      11/15/2010         57.00
CIT GROUP INC          5.05      12/15/2010         56.65
CIT GROUP INC          5.05       3/15/2011         55.50
CIT GROUP INC          5.15       2/15/2010         69.00
CIT GROUP INC          5.15       3/15/2010         59.50
CIT GROUP INC          5.15       2/15/2011         55.50
CIT GROUP INC          5.15       2/15/2011         58.50
CIT GROUP INC          5.15       4/15/2011         55.75
CIT GROUP INC          5.20       11/3/2010         62.88
CIT GROUP INC          5.20       9/15/2011         55.00
CIT GROUP INC          5.25       5/15/2010         57.10
CIT GROUP INC          5.25       9/15/2010         57.25
CIT GROUP INC          5.25      11/15/2010         57.88
CIT GROUP INC          5.25      11/15/2010         59.00
CIT GROUP INC          5.25      11/15/2010         57.63
CIT GROUP INC          5.25      12/15/2010         54.00
CIT GROUP INC          5.30       6/15/2010         57.63
CIT GROUP INC          5.35       6/15/2011         58.25
CIT GROUP INC          5.35       8/15/2011         55.50
CIT GROUP INC          5.40       5/15/2011         58.00
CIT GROUP INC          5.45       8/15/2010         59.00
CIT GROUP INC          5.50       8/15/2010         57.25
CIT GROUP INC          5.60       4/27/2011         62.00
CIT GROUP INC          6.25      12/15/2009         58.00
CIT GROUP INC          6.25       2/15/2010         57.13
CIT GROUP INC          6.50      12/15/2009         58.00
CIT GROUP INC          6.50       2/15/2010         59.50
CIT GROUP INC          6.50       3/15/2010         58.25
CIT GROUP INC          6.50      12/15/2010         58.50
CIT GROUP INC          6.50       1/15/2011         59.00
CIT GROUP INC          6.50       3/15/2011         59.50
CIT GROUP INC          6.60       2/15/2011         59.00
CIT GROUP INC          6.75       3/15/2011         58.75
CIT GROUP INC         12.00      12/18/2018         18.50
CITADEL BROADCAS       4.00       2/15/2011         17.50
COOPER-STANDARD        8.38      12/15/2014         11.00
CREDENCE SYSTEM        3.50       5/15/2010         51.50
DAYTON SUPERIOR       13.00       6/15/2009         20.00
DECODE GENETICS        3.50       4/15/2011         14.00
DELPHI CORP            6.50       8/15/2013          2.00
DEX MEDIA INC          8.00      11/15/2013         19.00
DEX MEDIA INC          9.00      11/15/2013         19.00
DEX MEDIA INC          9.00      11/15/2013         17.25
DEX MEDIA WEST         9.88       8/15/2013         18.00
DOLEFC-CALL10/09       7.25       6/15/2010        100.04
DOWNEY FINANCIAL       6.50        7/1/2014         16.00
EDDIE BAUER HLDG       5.25        4/1/2014          0.35
FAIRPOINT COMMUN      13.13        4/1/2018         20.00
FINLAY FINE JWLY       8.38        6/1/2012          5.00
FLEETWOOD ENTERP      14.00      12/15/2011         40.75
FORD MOTOR CRED        5.00      10/20/2009         99.50
FRANKLIN BANK          4.00        5/1/2027          1.25
GASCO ENERGY INC       5.50       10/5/2011         45.50
GENERAL MOTORS         7.13       7/15/2013         14.51
GENERAL MOTORS         7.40        9/1/2025         14.13
GENERAL MOTORS         7.70       4/15/2016         14.75
GENERAL MOTORS         8.10       6/15/2024         14.11
GENERAL MOTORS         8.25       7/15/2023         13.00
GENERAL MOTORS         8.38       7/15/2033         15.25
GENERAL MOTORS         8.80        3/1/2021         13.50
GENERAL MOTORS         9.40       7/15/2021         13.75
GENERAL MOTORS         9.45       11/1/2011          8.50
GMAC LLC               6.75      11/15/2009         96.50
HAIGHTS CROSS OP      11.75       8/15/2011         43.00
HAWAIIAN TELCOM        9.75        5/1/2013          2.25
HERBST GAMING          7.00      11/15/2014          5.44
HERBST GAMING          8.13        6/1/2012          4.00
IDEARC INC             8.00      11/15/2016          3.25
INDALEX HOLD          11.50        2/1/2014          1.00
INN OF THE MOUNT      12.00      11/15/2010         40.50
INTCOMEX INC          11.75       1/15/2011         72.17
INTL LEASE FIN         4.50      11/15/2009         97.14
KAISER ALUM&CHEM      12.75        2/1/2003          8.75
KEYSTONE AUTO OP       9.75       11/1/2013         27.25
LANDAMERICA            3.13      11/15/2033         29.25
LAZYDAYS RV           11.75       5/15/2012          3.00
LEHMAN BROS HLDG       4.38      11/30/2010         14.50
LEHMAN BROS HLDG       4.50       7/26/2010         12.63
LEHMAN BROS HLDG       4.50        8/3/2011         11.58
LEHMAN BROS HLDG       4.70        3/6/2013         13.60
LEHMAN BROS HLDG       4.80       3/13/2014         13.00
LEHMAN BROS HLDG       4.80       6/24/2023         11.65
LEHMAN BROS HLDG       5.00       1/14/2011         12.60
LEHMAN BROS HLDG       5.00       1/22/2013         12.50
LEHMAN BROS HLDG       5.00       2/11/2013         13.00
LEHMAN BROS HLDG       5.00       3/27/2013         13.50
LEHMAN BROS HLDG       5.00        8/3/2014         13.50
LEHMAN BROS HLDG       5.00        8/5/2015         11.50
LEHMAN BROS HLDG       5.00       5/28/2023         11.65
LEHMAN BROS HLDG       5.00       5/30/2023         13.25
LEHMAN BROS HLDG       5.00       6/10/2023         12.51
LEHMAN BROS HLDG       5.00       6/17/2023         12.00
LEHMAN BROS HLDG       5.10       1/28/2013         12.00
LEHMAN BROS HLDG       5.10       2/15/2020         13.50
LEHMAN BROS HLDG       5.15        2/4/2015         11.75
LEHMAN BROS HLDG       5.20       5/13/2020         12.85
LEHMAN BROS HLDG       5.25        2/6/2012         13.89
LEHMAN BROS HLDG       5.25       2/11/2015         13.50
LEHMAN BROS HLDG       5.25        3/5/2018         10.90
LEHMAN BROS HLDG       5.25        3/8/2020         13.00
LEHMAN BROS HLDG       5.25       5/20/2023         12.85
LEHMAN BROS HLDG       5.35       2/25/2018         10.50
LEHMAN BROS HLDG       5.35       3/13/2020         12.99
LEHMAN BROS HLDG       5.35       6/14/2030         11.55
LEHMAN BROS HLDG       5.38        5/6/2023         12.15
LEHMAN BROS HLDG       5.40        3/6/2020         12.65
LEHMAN BROS HLDG       5.40       3/20/2020         13.50
LEHMAN BROS HLDG       5.40       3/30/2029         11.65
LEHMAN BROS HLDG       5.40       6/21/2030         11.65
LEHMAN BROS HLDG       5.45       3/15/2025         12.85
LEHMAN BROS HLDG       5.45        4/6/2029         11.50
LEHMAN BROS HLDG       5.45       2/22/2030         11.65
LEHMAN BROS HLDG       5.45       7/19/2030         12.85
LEHMAN BROS HLDG       5.45       9/20/2030         12.85
LEHMAN BROS HLDG       5.50        4/4/2016         15.75
LEHMAN BROS HLDG       5.50        2/4/2018         11.00
LEHMAN BROS HLDG       5.50       2/19/2018         13.50
LEHMAN BROS HLDG       5.50       11/4/2018         11.00
LEHMAN BROS HLDG       5.50       2/27/2020         12.85
LEHMAN BROS HLDG       5.50       8/19/2020         12.20
LEHMAN BROS HLDG       5.50       3/14/2023         12.85
LEHMAN BROS HLDG       5.50        4/8/2023         13.50
LEHMAN BROS HLDG       5.50       4/15/2023         12.85
LEHMAN BROS HLDG       5.50       4/23/2023         10.50
LEHMAN BROS HLDG       5.50        8/5/2023         11.88
LEHMAN BROS HLDG       5.50       10/7/2023         12.15
LEHMAN BROS HLDG       5.50       1/27/2029         10.99
LEHMAN BROS HLDG       5.50        2/3/2029         11.65
LEHMAN BROS HLDG       5.50        8/2/2030         11.65
LEHMAN BROS HLDG       5.55       2/11/2018         11.00
LEHMAN BROS HLDG       5.55        3/9/2029         11.65
LEHMAN BROS HLDG       5.55       1/25/2030         11.65
LEHMAN BROS HLDG       5.55       9/27/2030         11.65
LEHMAN BROS HLDG       5.55      12/31/2034         11.65
LEHMAN BROS HLDG       5.60       1/22/2018         13.00
LEHMAN BROS HLDG       5.60       9/23/2023         11.00
LEHMAN BROS HLDG       5.60       2/17/2029         11.00
LEHMAN BROS HLDG       5.60       2/24/2029         13.50
LEHMAN BROS HLDG       5.60        3/2/2029         11.65
LEHMAN BROS HLDG       5.60       2/25/2030         12.85
LEHMAN BROS HLDG       5.60        5/3/2030         12.73
LEHMAN BROS HLDG       5.63       1/24/2013         16.25
LEHMAN BROS HLDG       5.63       3/15/2030         11.55
LEHMAN BROS HLDG       5.65       9/14/2020         14.00
LEHMAN BROS HLDG       5.65      11/23/2029         12.85
LEHMAN BROS HLDG       5.65       8/16/2030         12.51
LEHMAN BROS HLDG       5.65      12/31/2034         11.55
LEHMAN BROS HLDG       5.70       1/28/2018         13.50
LEHMAN BROS HLDG       5.70       2/10/2029         11.65
LEHMAN BROS HLDG       5.70       4/13/2029         14.00
LEHMAN BROS HLDG       5.70        9/7/2029         11.65
LEHMAN BROS HLDG       5.70      12/14/2029         14.20
LEHMAN BROS HLDG       5.75       4/25/2011         14.67
LEHMAN BROS HLDG       5.75       7/18/2011         15.10
LEHMAN BROS HLDG       5.75       5/17/2013         15.00
LEHMAN BROS HLDG       5.75        1/3/2017          0.06
LEHMAN BROS HLDG       5.75       3/27/2023         13.50
LEHMAN BROS HLDG       5.75      10/15/2023         11.90
LEHMAN BROS HLDG       5.75      10/21/2023         11.00
LEHMAN BROS HLDG       5.75      11/12/2023         13.50
LEHMAN BROS HLDG       5.75      11/25/2023         13.25
LEHMAN BROS HLDG       5.75      12/16/2028         12.51
LEHMAN BROS HLDG       5.75      12/23/2028         12.85
LEHMAN BROS HLDG       5.75       8/24/2029         11.25
LEHMAN BROS HLDG       5.75       9/14/2029         13.50
LEHMAN BROS HLDG       5.75      10/12/2029         12.85
LEHMAN BROS HLDG       5.75       3/29/2030         13.50
LEHMAN BROS HLDG       5.80        9/3/2020         13.50
LEHMAN BROS HLDG       5.80      10/25/2030         11.65
LEHMAN BROS HLDG       5.85       11/8/2030         13.00
LEHMAN BROS HLDG       5.88      11/15/2017         15.50
LEHMAN BROS HLDG       5.90        5/4/2029         12.00
LEHMAN BROS HLDG       5.90        2/7/2031         11.65
LEHMAN BROS HLDG       5.95      12/20/2030         12.51
LEHMAN BROS HLDG       6.00        4/1/2011         13.05
LEHMAN BROS HLDG       6.00       7/19/2012         15.20
LEHMAN BROS HLDG       6.00      12/18/2015         13.25
LEHMAN BROS HLDG       6.00       2/12/2018         13.50
LEHMAN BROS HLDG       6.00       1/22/2020         11.60
LEHMAN BROS HLDG       6.00       2/12/2020          9.95
LEHMAN BROS HLDG       6.00       1/29/2021         12.25
LEHMAN BROS HLDG       6.00      10/23/2028         11.65
LEHMAN BROS HLDG       6.00      11/18/2028         10.40
LEHMAN BROS HLDG       6.00       5/11/2029         11.65
LEHMAN BROS HLDG       6.00       7/20/2029         12.85
LEHMAN BROS HLDG       6.00       4/30/2034         11.65
LEHMAN BROS HLDG       6.00       7/30/2034         12.85
LEHMAN BROS HLDG       6.00       2/21/2036         13.50
LEHMAN BROS HLDG       6.00       2/24/2036         11.65
LEHMAN BROS HLDG       6.00       2/12/2037         12.85
LEHMAN BROS HLDG       6.05       6/29/2029         13.50
LEHMAN BROS HLDG       6.10       8/12/2023         12.51
LEHMAN BROS HLDG       6.15       4/11/2031         11.65
LEHMAN BROS HLDG       6.20       9/26/2014         16.00
LEHMAN BROS HLDG       6.20       6/15/2027         13.25
LEHMAN BROS HLDG       6.20       5/25/2029         11.55
LEHMAN BROS HLDG       6.25        2/5/2021         11.65
LEHMAN BROS HLDG       6.25       2/22/2023         14.00
LEHMAN BROS HLDG       6.40      10/11/2022         14.00
LEHMAN BROS HLDG       6.50       7/19/2017          0.51
LEHMAN BROS HLDG       6.50       2/28/2023         12.50
LEHMAN BROS HLDG       6.50        3/6/2023          7.75
LEHMAN BROS HLDG       6.50       9/20/2027         12.13
LEHMAN BROS HLDG       6.50      10/18/2027         12.40
LEHMAN BROS HLDG       6.50      10/25/2027         11.90
LEHMAN BROS HLDG       6.50      11/15/2032         13.25
LEHMAN BROS HLDG       6.50       1/17/2033         13.50
LEHMAN BROS HLDG       6.50       2/13/2037         11.65
LEHMAN BROS HLDG       6.50       6/21/2037         12.85
LEHMAN BROS HLDG       6.50       7/13/2037         12.60
LEHMAN BROS HLDG       6.60       10/3/2022         12.94
LEHMAN BROS HLDG       6.63       1/18/2012         15.20
LEHMAN BROS HLDG       6.63       7/27/2027         11.55
LEHMAN BROS HLDG       6.75      12/28/2017          0.01
LEHMAN BROS HLDG       6.75        7/1/2022         13.50
LEHMAN BROS HLDG       6.75      11/22/2027         11.50
LEHMAN BROS HLDG       6.75       3/11/2033         14.00
LEHMAN BROS HLDG       6.75      10/26/2037         11.89
LEHMAN BROS HLDG       6.80        9/7/2032         13.50
LEHMAN BROS HLDG       6.85       8/16/2032         13.50
LEHMAN BROS HLDG       6.85       8/23/2032         13.43
LEHMAN BROS HLDG       6.88        5/2/2018         16.38
LEHMAN BROS HLDG       6.90        9/1/2032         14.00
LEHMAN BROS HLDG       7.00       4/16/2019         13.25
LEHMAN BROS HLDG       7.00       5/12/2023          9.50
LEHMAN BROS HLDG       7.00       9/27/2027         15.35
LEHMAN BROS HLDG       7.00       10/4/2032         12.60
LEHMAN BROS HLDG       7.00       7/27/2037         14.00
LEHMAN BROS HLDG       7.00       9/28/2037         11.65
LEHMAN BROS HLDG       7.00      11/16/2037         12.25
LEHMAN BROS HLDG       7.00      12/28/2037         10.50
LEHMAN BROS HLDG       7.00       1/31/2038         11.65
LEHMAN BROS HLDG       7.00        2/1/2038         14.00
LEHMAN BROS HLDG       7.00        2/7/2038         11.05
LEHMAN BROS HLDG       7.00        2/8/2038         14.00
LEHMAN BROS HLDG       7.00       4/22/2038         12.50
LEHMAN BROS HLDG       7.05       2/27/2038         12.50
LEHMAN BROS HLDG       7.10       3/25/2038         13.75
LEHMAN BROS HLDG       7.20       8/15/2009         13.00
LEHMAN BROS HLDG       7.25       2/27/2038         13.75
LEHMAN BROS HLDG       7.25       4/29/2038         12.13
LEHMAN BROS HLDG       7.35        5/6/2038         13.50
LEHMAN BROS HLDG       7.73      10/15/2023         12.88
LEHMAN BROS HLDG       7.88       8/15/2010         14.20
LEHMAN BROS HLDG       8.00        3/5/2022          8.25
LEHMAN BROS HLDG       8.00       3/17/2023         13.88
LEHMAN BROS HLDG       8.05       1/15/2019         11.50
LEHMAN BROS HLDG       8.40       2/22/2023         14.00
LEHMAN BROS HLDG       8.50        8/1/2015         14.50
LEHMAN BROS HLDG       8.75      12/21/2021         12.50
LEHMAN BROS HLDG       8.75        2/6/2023         12.00
LEHMAN BROS HLDG       8.80        3/1/2015         16.25
LEHMAN BROS HLDG       8.92       2/16/2017         14.00
LEHMAN BROS HLDG       9.50      12/28/2022         12.98
LEHMAN BROS HLDG       9.50       1/30/2023         13.50
LEHMAN BROS HLDG       9.50       2/27/2023         12.75
LEHMAN BROS HLDG      10.00       3/13/2023         13.50
LEHMAN BROS HLDG      10.38       5/24/2024         11.00
LEHMAN BROS HLDG      11.00      10/25/2017         10.00
LEHMAN BROS HLDG      11.00       6/22/2022         11.02
LEHMAN BROS HLDG      11.50       9/26/2022         13.38
LEHMAN BROS HLDG      18.00       7/14/2023         10.56
LTX-CREDENCE           3.50       5/15/2011         52.00
MAJESTIC STAR          9.50      10/15/2010         53.00
MAJESTIC STAR          9.75       1/15/2011          6.84
MERISANT CO            9.50       7/15/2013         22.04
MERRILL LYNCH          0.00        3/9/2011         95.10
MFCCN-CALL11/09        5.20      11/15/2029         89.63
MFCCN-CALL11/09        5.30      11/15/2029         96.37
MILLENNIUM AMER        7.63      11/15/2026         14.00
MORRIS PUBLISH         7.00        8/1/2013         27.75
NEWARK GROUP INC       9.75       3/15/2014         20.06
NEWPAGE CORP          12.00        5/1/2013         45.00
NORTH ATL TRADNG       9.25        3/1/2012         38.55
NTK HOLDINGS INC      10.75        3/1/2014          2.68
OSCIENT PHARM         12.50       1/15/2011          3.00
PALM HARBOR            3.25       5/15/2024         48.00
PANOLAM INDUSTRI      10.75       10/1/2013         31.50
PLY GEM INDS           9.00       2/15/2012         66.00
QUALITY DISTRIBU       9.00      11/15/2010         65.50
RADIO ONE INC          6.38       2/15/2013         35.00
RADIO ONE INC          8.88        7/1/2011         46.75
RAFAELLA APPAREL      11.25       6/15/2011         26.75
RAIT FINANCIAL         6.88       4/15/2027         39.34
READER'S DIGEST        9.00       2/15/2017          1.00
RESIDENTIAL CAP        8.00       2/22/2011         72.00
RESIDENTIAL CAP        8.38       6/30/2010         81.80
RH DONNELLEY           6.88       1/15/2013          4.25
RH DONNELLEY           6.88       1/15/2013          5.95
RH DONNELLEY           6.88       1/15/2013          6.00
RH DONNELLEY           8.88       1/15/2016          5.00
RH DONNELLEY           8.88      10/15/2017          5.50
ROTECH HEALTHCA        9.50        4/1/2012         30.50
SIX FLAGS INC          9.63        6/1/2014         24.00
SIX FLAGS INC          9.75       4/15/2013         25.00
SPACEHAB INC           5.50      10/15/2010         45.25
SPHERIS INC           11.00      12/15/2012         52.00
STATION CASINOS        6.00        4/1/2012         24.50
STATION CASINOS        6.50        2/1/2014          3.60
STATION CASINOS        6.63       3/15/2018          2.94
STATION CASINOS        6.88        3/1/2016          2.00
STATION CASINOS        7.75       8/15/2016         24.50
TEKNI-PLEX INC        12.75       6/15/2010         80.00
THORNBURG MTG          8.00       5/15/2013          5.38
TIMES MIRROR CO        6.61       9/15/2027          2.00
TIMES MIRROR CO        7.25        3/1/2013          6.00
TIMES MIRROR CO        7.25      11/15/2096          8.25
TIMES MIRROR CO        7.50        7/1/2023          4.00
TOUSA INC              7.50       3/15/2011          8.00
TOUSA INC              7.50       1/15/2015          7.00
TOUSA INC              9.00        7/1/2010         53.00
TOUSA INC              9.00        7/1/2010         54.00
TOUSA INC             10.38        7/1/2012          6.00
TRANSMERIDIAN EX      12.00      12/15/2010         20.50
TRIBUNE CO             4.88       8/15/2010         10.50
TRIBUNE CO             5.25       8/15/2015          9.00
TRIBUNE CO             5.67       12/8/2008          7.25
TRUMP ENTERTNMNT       8.50        6/1/2015          7.00
TXU CORP               4.80      11/15/2009         90.00
USFREIGHTWAYS          8.50       4/15/2010         60.50
VERASUN ENERGY         9.38        6/1/2017         14.38
VERENIUM CORP          5.50        4/1/2027         40.75
VESTA INSUR GRP        8.75       7/15/2025          0.73
VION PHARM INC         7.75       2/15/2012         25.51
VISTEON CORP           7.00       3/10/2014         32.75
WASH MUT BANK FA       5.13       1/15/2015          0.26
WASH MUT BANK FA       5.65       8/15/2014          0.25
WASH MUT BANK NV       5.55       6/16/2010         32.50
WASH MUTUAL INC        8.25        4/1/2010         71.00
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          1.00
WII COMPONENTS        10.00       2/15/2012         45.25
YELLOW CORP            5.00        8/8/2023         29.00
YELLOW CORP            5.00        8/8/2023         53.00



                           *********

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

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

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

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

                  *** End of Transmission ***