TCR_Public/100112.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

             Tuesday, January 12, 2010, Vol. 14, No. 11

                            Headlines

111/CAMINO REAL: Voluntary Chapter 11 Case Summary
ABITIBIBOWATER INC: Proposes Cross-Border Claims Protocol
ABITIBIBOWATER INC: Wachovia Wants In on Chapter 11 Plan
ABITIBIBOWATER INC: $250MM ABH LLC Note Repayments Completed
ACTIVECARE INC: Operating Losses Prompt Going Concern Doubt

ADVANTA CORP: Decides to Liquidate Assets
ALDA PHARMACEUTICALS: Incurs C$1.2 Million Net Loss in Fiscal 2009
ALERIS INTERNATIONAL: Proposes Premium Financing Pact with AFCO
ALERIS INTERNATIONAL: Plan Exclusivity Extended to June 7
ALERIS INTERNATIONAL: Proposes to Hire Financial Balloting Group

ALLIS-CHALMERS ENERGY: Amends Investment Deal With Lime Rock
AMERICAN INT'L: Geithner Cleared Over SEC Disclosure Issue
ANTHRACITE CAPITAL: Did Not Pay Interest Due on Four Notes
ARCH ALUMINUM: Has Sale and Loan Hearing this Week
BEAZER HOMES: Fitch Assigns 'C/RR6' Rating on $50 Mil. Notes

BEAZER HOMES: S&P Assigns 'CC' Rating on $50 Mil. Notes
BERNARD KOSAR: Court Converts Case to Chapter 7 Liquidation
BILL BARRETT: S&P Raises Rating on Unsecured Debt to 'BB-'
BIONALYTICAL SYSTEMS: Delays Filing of Form 10-K for Fiscal 2009
BLUE HERON PAPER: Files List of 20 Largest Unsecured Creditors

BLUE HERON PAPER: Sec. 341 Creditors Meeting Set for Feb. 2
BLUE HERON PAPER: Wants to Hire Vanden Bos as Special Counsel
BLUE HERON PAPER: Wants to Hire Stoel Rives as Bankruptcy Counsel
BROADWAY MASS ASSOCIATES: Files for Bankruptcy in Wilmington, Del.
BRIAN GARBUTT: Sec. 341 Creditors Meeting Set for Feb. 8

BROADWAY MASS ASSOCIATES: Files for Bankruptcy in Wilmington, Del.
CANWEST LIMITED: Moody's Downgrades Default Rating to 'D'
CENTRAL METAL: Case Summary & 9 Largest Unsecured Creditors
CHAMPION ENTERPRISES: Credit Suisse DIP Loan Gets Final Approval
CHUGH SHOPPING: U.S. Trustee Unable to Appoint Creditors Committee

CITIGROUP INC: John Deucth Won't Stand for Re-Election
CITIGROUP INC: Peterson Leaves Japan Unit, Returns to NY Office
CNS RESPONSE: Auditor Raises Going Concern Doubt
COHARIE HOG: Court to Consider Continued Cash Collateral Use Today
COMMERCIAL CAPITAL: Ch. 11 Trustee Taps Markus Williams as Counsel

CORBIN PARK: Status Hearing Set for January 22
CORD BLOOD: Compensatory Arrangement of Certain Officers
CROWN CASTLE: S&P Downgrades Rating on Unsecured Debt to 'B'
DECODE GENETICS: Finds Factors Impacting Heart Acts Measurements
DELPHI CORP: Magna to Buy Fuel Tank Unit

DELPHI CORP: Michigan SISF Appeals Claim Denial
DHILLON PROPERTIES: Sec. 341 Creditors Meeting Set for Feb. 1
EDISON FUNDING: Moody's Withdraws 'Ba3' Rating on Senior Debt
EMERSON OVERLOOK: Sec. 341 Creditors Meeting Set for Feb. 11
ENERGY FUTURE: $500 Mil. Notes Issue Won't Affect Moody's Ratings

ERICKSON RETIREMENT: NSC NFPs Object to Committee Discovery
ESCADA AG: Court OKs Sale of U.S. Unit's Assets to HSBC Trustee
ESTATE FINANCIAL: Court Establishes March 31 as Claims Bar Date
FAYETTEVILLE MARKETFAIR: Has Until Jan. 19 to Use Cash Collateral
FIRST MIDWEST: Fitch Puts Issuer Default Ratings on Negative Watch

FORBES MEDI-TECH: Receives NASDAQ Suspension Notice
FORWARD FOODS: Wins Plan Confirmation; Emigrant Keeps Control
FREEDOM COMMUNICATIONS: Wants Plan Filing Extended Until March 30
GENMAR HOLDINGS: Platinum Equity Buys Key Assets for $70 Million
GOOD TIMES: Hein Associates Raises Going Concern Doubt

GRANT FOREST: Georgia-Pacific to Buy Plants for $400 Million
GOODY'S LLC: To Have March 3 Plan Confirmation Hearing
GREEKTOWN HOLDINGS: Panel Wants to Extend Edelman Work
GREEKTOWN HOLDINGS: Papases Get Lift Stay to Notify on "Put"
GREEKTOWN HOLDINGS: Proposes Isle of Capri as Gaming Advisor

HAEMACURE CORP: Seeks Creditor Protection in U.S. and Canada
HAIGHTS CROSS: Files for Chapter 11 with Prepackaged Plan
HAIGHTS CROSS: Case Summary & 30 Largest Unsecured Creditors
HARRAH'S ENT: Pennsylvania Table Game OK Has Neg. Credit Effects
HARTMARX CORP: PBGC Protects Underfunded Pension Plan

HAYES LEMMERZ: Appeals Ace Win in Insurance Spat
HEALTHTRONICS INC: Moody's Withdraws 'B2' Corporate Family Rating
HUMAN BEAN: Reopens Coffee Shops After Col. Department Seizure
INLET SQUARE: Shuts Down 12 Cinemas as Regal Terminates Lease
ICAHN ENTERPRISES: Moody's Affirms 'Ba3' Corporate Family Rating

INTERNATIONAL ALUMINUM: Sec. 341 Creditors Meeting Set for Feb. 16
JOURNAL REGISTER: Names John Paton as Chief Executive Officer
KPT ENTERPRISES: Asks for Court Approval to Use Cash Collateral
KPT ENTERPRISES: Files Schedules of Assets & Liabilities
KPT ENTERPRISES: Sec. 341 Creditors Meeting Set for Feb. 1

KPT ENTERPRISES: Taps Hodges Doughty as Bankruptcy Counsel
LAS VEGAS SANDS: Penn. Table Game OK Has Pos. Credit Effects
LEHMAN BROTHERS: Pickens' BP Capital Sells $42MM of Claims to RBS
LENOX GROUP: Liquidating Plan Declared Effective
LYONDELL CHEMICAL: Chemtura Wants to Join Objections to Claims

LYONDELL CHEMICAL: Petrologistics Wants Lift Stay for Set-Off
LYONDELL CHEMICAL: Solutia & Ascend File Administrative Claims
LYTHGOE PROPERTIES: Wants to Employ Burr Pease as Bankr. Counsel
MAGNA ENTERTAINMENT: MID Settles Creditors' Committee Lawsuit
MERISANT WORLDWIDE: Emerges from Chapter 11 Bankruptcy

MERUELO MADDUX: Plan Provides for 80% Payment for Unsecured Claims
MESA AIR: Bankruptcy Triggers Default in $35MM Indentures
MESA AIR: Has Interim Nod to Hire Epiq as Claims Agent
MESA AIR: To Pay Prepetition Claims of Critical Vendors
MIDWAY GAMES: Dewey Prevails in Fee Spat With Creditors

MITEK SYSTEMS: Mayer Hoffman Raises Going Concern Doubt
MOHEGAN TRIBAL: Pennsylvania Table Game OK Has Pos. Credit Effects
MONTECITO AT MIRABEL: Files List of 5 Largest Unsecured Creditors
MONTECITO AT MIRABEL: Sec. 341 Creditors Meeting Set for Feb. 2
MONTECITO AT MIRABEL: Taps Nussbaum & Gillis as Bankr. Counsel

MOVIE GALLERY: Wants to Pay Incentives to Employees
MPI AZALEA: Case Summary & 20 Largest Unsecured Creditors
NATIONAL RETAIL: Fitch Downgrades Preferred Stock Rating to 'BB+'
NEXMED INC: Plans to Submit NADAQ Listing Compliance Plan
NORTEL NETWORKS: Gets Nod to Send 64 Client Contracts to Avaya

NORTEL NETWORKS: Gets Nod for Side Agreement With Nortel China
NORTEL NETWORKS: Has OK to Hire John Ray as Principal Officer
NOVA HOLDING: Has Until March 1 to File Plan of Reorganization
OPUS EAST: BoA Allowed to Foreclose on Office-Retail Building
OPUS SOUTH: Gets March 18 Extension of Exclusive Periods

OPUS WEST: Has Nod for SW 119 Settlement Agreement
OTTER TAIL: To Raise About $12 Million Under Reorganization Plan
OTTER TAIL: Posts $21.5 Million Net Loss in Fiscal 2009
PAETEC HOLDING: Launches 8-7/8% Senior Sec. Notes Offering
PATRICK HACKETT: WiseBuys Owners Face Lawsuit Filed by University

PENNSYLVANIA: Table Game OK May Hurt Atlantic City Gaming Revenues
PENN TRAFFIC: Has $85-Mil. Deal to Sell All Assets to Tops Markets
PENN TRAFFIC: Tops Markets Offering $85 Million
PENN TRAFFIC: Creditors Panel Taps Abacus to Advise on Asset Sale
PMP II LLC: Voluntary Chapter 11 Case Summary

PNG VENTURES: Court Extends Chapter 11 Plan Filing Until March 8
PRIME GROUP REALTY: To Delist Series B Preferred Shares
QHB HOLDINGS: Taps White & Case to Handle Reorganization Case
READER'S DIGEST: Begins Filing Omnibus Claims Objections
READER'S DIGEST: Has Deal to Resolve HCL Prepetition Cure Claim

ROYAL BANK: Buys BP Capital's $42MM Claim in Lehman Brothers
SINOENERGY CORP: Crowe Horwath Raises Going Concern Doubt
SIX FLAGS: Banks Launch $830 Million Exit Financing
SKI MARKET: Connecticut Atty. General Wants Gift Cards Honored
SKI MARKET: AG Richard Blumenthal Wants to Honor Gift Cards

STINSON PETROLEUM: Case Converted to Chapter 7 Liquidation
SYNERGX SYSTEMS: Nussbaum Yates Raises Going Concern Doubt
TAYLOR-WHARTON: Plan Confirmation Hearing Set for February 16
THORNBURG MORTGAGE: Trustee Fed Up With Lawyers' Fee Structure
TLC VISION: Files Chapter 11 Plan of Reorganization

TRIBUNE CO: Appoints Geoffrey Melick as SVP for Health
TRIBUNE CO: ASM Capital Bought Claims in December
TRIBUNE CO: Opts to Assume Syndicated Agreements With NBC
TRIDENT RESOURCES: Wants Plan Filing Deadline Moved to May 6
TRUMP ENT: Pennsylvania Table Game OK Has Neg. Credit Effects

VALUE CITY: PBGC to Cover $4.3 Million Shortfall in Benefit Plan
VIKING SYSTEM: Inks Investment Deal With Dutchess Opportunity
VINEYARD NATIONAL: Files Plan of Liquidation
WASHINGTON MUTUAL: District Judge Delays Ruling on Assets Dispute
WASHINGTON MUTUAL: U.S. Trustee Seeks List of Equityholders

WASHINGTON MUTUAL: U.S. Trustee Sets Meeting to Form Equity Panel
WHITE ENERGY: Chapter 11 Plan Facing Objections from Creditors
YRC WORLDWIDE: Moody's Changes Default Rating to 'Caa2'

* Mark Kindy Joins Alvarez & Marsal as Managing Director

* Large Companies with Insolvent Balance Sheets

                            *********

111/CAMINO REAL: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: 111/Camino Real, LLC
        5305 E. Second St., Suite 204
        Long Beach, CA 90803

Bankruptcy Case No.: 10-10685

Chapter 11 Petition Date: January 8, 2010

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

Judge: Richard M. Neiter

Debtor's Counsel: Stephen F. Biegenzahn, Esq.
                  4300 Via Marisol Ste 764
                  Los Angeles, CA 90042-5079
                  Tel: (213) 617-0017
                  Fax: (480) 247-5977
                  Email: efile@sfblaw.com

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

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

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


ABITIBIBOWATER INC: Proposes Cross-Border Claims Protocol
---------------------------------------------------------
AbitibiBowater Inc. and its debtor-affiliates ask Judge Kevin J.
Carey of the United States Bankruptcy Court for the District of
Delaware to approve a cross-border claims protocol, establishing
procedures with respect to the review and reconciliation of
claims filed against Debtors who also filed for protection under
Canada's Companies' Creditors Arrangement Act.

According to Sean T. Greecher, Esq., at Young Conaway Stargatt &
Taylor, LLP, in Wilmington, Delaware, the Cross-Border Claims
Protocol supplements the procedures that the Bankruptcy Court and
the Superior Court Commercial Division for the District of
Montreal in Quebec, Montreal, Canada, implement for the review
and reconciliation of claims filed in either or both the Chapter
11 Cases and CCAA Proceedings of the Cross-Border AbitibiBowater
Debtors.

The Cross-Border Debtors are Bowater Canada Finance Corporation,
Bowater Canadian Holdings Incorporated, AbitibiBowater Canada
Inc., Bowater Canadian Forest Products Inc., Bowater Maritimes
Inc., Bowater LaHave Corporation and Bowater Canadian Limited.

Mr. Greecher contends that the Cross-Border Claims Protocol is
appropriate in the Debtors' cases where multiple affiliated
debtors commenced plenary insolvency proceedings, because it will
promote the efficient and effective administration of the Chapter
11 cases with the CCAA Proceeding, Mr. Greecher tells Judge
Carey.

               Terms of the Cross-Border Protocol

Mr. Greecher emphasizes that the Cross-Border Claims Protocol is
a product of the extensive negotiations Ernst & Young, Inc., the
Court-appointed monitor in the Canadian proceedings of the CCAA
Applicants, the Debtors' and Applicants' counsel, the Official
Committee of Unsecured Creditors, and the U.S. and Canadian
financial advisors and counsel participated in.

The Cross-Border Claims Protocol is based on these guiding
principles:

  (1) Absent objections and subject to the Creditors'
      Committee's review, the CCAA Applicants and the Monitor
      will review all claims against the Cross-Border Debtors,
      which will be deemed allowed in both Insolvency
      Proceedings.

  (2) If a creditor of a Cross-Border Debtor objects to the
      determination of its claim under the CCAA Proceeding,
      the Canadian Court will decide which Court will determine
      the objection.  However, prior to the determination, the
      creditor, the Monitor or Cross-Border Debtors may request
      a joint hearing to determine the Objection.

  (3) The Creditors' Committee has certain additional review and
      objection rights.  Notably, the Monitor must consult with
      the Committee prior to the implementation of any treatment
      of any claim against a Cross-Border Debtor in excess of
      C$100,000 by communicating its intended treatment of the
      claim, along with supporting documentation, to the
      Committee.  If the Committee objects to the proposed
      treatment of the Claim, the Monitor or the Cross-Border
      Debtors will seek a joint hearing on the matter.  The
      Monitor will provide the Committee with a copy of any
      Duplicate Claim in excess of C$1,000,000, along with its
      recommendation of the intended treatment of the Claim
      under the CCAA Proceeding.  The Monitor will not accept,
      amend, or disallow the relevant Duplicate Claim in the
      Canadian Proceeding while the Committee is reviewing it,
      or while an objection remains pending.

The key terms of the Cross-Border Claims Protocol implement these
mechanics, subject to certain exception:

  * Claims filed against the Canadian Debtors only will be
    subject to the procedures for allowance or disallowance of
    claims established by the Canadian Court and will be
    determined in the Canadian Proceeding.

  * Claims filed against the U.S. Debtors only will be subject
    to allowance or disallowance of claims in the U.S.
    Proceedings and will be determined by the U.S. Bankruptcy
    Court.

  * For Claims filed against the Cross-Border Debtors in the
    CCAA Proceedings and the Chapter 11 Cases:

    -- the Monitor, together with the Canadian Debtors, will
       review each proof of claim, and the Canadian Court's
       order will govern the allowance or disallowance of that
       Claim; and

    -- any Claim will be determined in accordance with the
       Canadian Claims Order in both the Chapter 11 Cases and
       the Canadian Proceeding if the Monitor accepts, amends or
       disallows that Claim and no objection is filed.

Pursuant to the Claims Protocol, the Monitor will not accept,
amend or disallow any Claim (i) filed against the Cross-Border
Debtors for an amount in excess of C$100,000, or a Threshold
Claim, and (ii) which has been filed by or on behalf of any of
the Canadian Debtor or the U.S. Debtors against any of the Cross-
Border Debtors, unless the Monitor has consulted with the
Creditors' Committee concerning the Claim.

The Monitor will provide the Committee with a Threshold Claim
Notice, embodying the intended acceptance, amendment or
disallowance of the subject Threshold Claim, along with the
Monitor's analysis and recommendation.  In the case of a
Threshold Claim in excess of C$1,000,000 filed against any CCAA
Applicant, the Monitor will include in the Threshold Claim Notice
a copy of any Duplicate Claim form.

The Monitor may accept, amend or disallow any Threshold Claim if
within 15 days after delivery of the Threshold Claim Notice, the
Creditors' Committee has not provided the Monitor with its
written objection to the proposed treatment of the claim.

The Monitor may accept, amend or disallow any claim filed against
the Cross-Border Debtors for less than C$100,000 without advance
notice to the Creditors Committee.  The Monitor, however, will
provide the Committee with reports identifying those Claims at
the earlier of either (i) a monthly basis, or (ii) at a time when
the aggregate amount of the claims filed against the Cross-Border
Debtors in any 30-day period exceeds C$5,000,000.

The Cross-Border Claims Protocol will only become effective upon
approval by both the U.S. Bankruptcy and the Canadian Courts.

                     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 28 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: Wachovia Wants In on Chapter 11 Plan
--------------------------------------------------------
Wachovia Bank, National Association, as administrative agent
under that certain Credit Agreement, dated as of May 31, 2006,
and on behalf of itself and certain lenders, contends that as a
key constituency, it must be given full participation in the
development of a Chapter 11 plan in the Debtors' cases.

Wachovia recognizes the Debtors' need for additional time to
formulate and negotiate "a plan of reorganization that is
acceptable to its key constituents."  Thus, Wachovia supports the
Debtors' request to further extend the period within which the
Debtors may (a) file a Chapter 11 plan through April 15, 2010,
and (b) solicit acceptances of that plan through June 11, 2010.

The Debtors' Exclusive Plan Filing Period expired on December 15,
2009, while their current Exclusive Solicitation Period ends on
February 10, 2010.

Wachovia's support for the Debtors' Exclusivity extension
request, however, "is predicated upon discussions with the
Debtors whereby the Debtors have agreed to fully engage with
Wachovia, among other key constituencies, in the plan process,"
Kelly M. Conlan, Esq., at Connolly Bove Lodge & Hutz LLP, in
Wilmington, Delaware, informs the Court, on behalf of Wachovia.

Ms. Conlan points out that the Debtors have previously stated
that they and their "advisors developed a complex Recovery Model
in order to compute potential recoveries to creditors of each
[Debtor] entity" and that their "intention is to complete the
Recovery Model and have sign off from creditors' [sic] advisors
in January [2010]."  The Debtors further stated that their
financial advisor, Blackstone Advisory Partners L.P., is
preparing a valuation of AbitibiBowater Inc. and its multiple
legal entities and expects to have meaningful plan discussions
with advisors from the Official Committee of Unsecured Creditors
and the Ad Hoc Bondholders Committee in January 2010.  The
Recovery Model and Blackstone's valuation analysis are to serve
as the foundation for a value allocation model leading to a
restructuring plan.

While the Creditors and Bondholders Committees represent
important constituencies in the Debtors' cases, other parties,
including the Prepetition Lenders that are owed more than $272
million, also occupy positions of importance, Ms. Conlan
emphasizes.

"For there to be an expeditious, consensual plan of
reorganization in these cases, Wachovia's full participation in
the plan process is necessary," Ms. Conland contends, adding that
documentation being shared with the Committees, including the
Recovery Model and valuation documents must also be shared with
Wachovia.

                     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 28 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: $250MM ABH LLC Note Repayments Completed
------------------------------------------------------------
AbitibiBowater Inc. and its units informed the U.S. Bankruptcy
Court and parties-in-interest that as of December 23, 2009, they
have implemented and completed the transactions contemplating
payment of AbitibiBowater US Holding LLC's loan of $250,000,000,
as of the Petition Date, in principal amount and accrued interest
to Abitibi-Consolidated Company of Canada, or the ABH LLC Note.

Accordingly, AbitibiBowater, Inc., and AbitibiBowater U.S.
Holding LLC, together with three newly formed limited liability
companies -- (i) LLC1, as a wholly owned subsidiary of
AbitibiBowater Inc., (ii) LLC Holdco, as the immediate parent of
LLC1, and (iii) LLC2, as a wholly owned subsidiary of Abitibi-
Consolidated Company of Canada -- engaged in a series of
transactions necessary to effectuate the repayment of certain
intercompany debt to address the potential $55.25 million
Canadian withholding tax liability without affecting creditors'
interests in their Chapter 11 Cases.

As required to effectuate the Repayment Steps and the ABH LLC
Note Repayment, the Bankruptcy Court allowed the Debtors and the
Liability Companies, as applicable, to enter into the Support
Agreement and the amended financing agreements that require the
return and acceptance of replacement collateral, guarantees, and
pledges.

Pursuant to the Repayment Steps, each of ABH LLC1 and ABH Holding
Company LLC filed for voluntary petition for relief under Chapter
11 of the Bankruptcy Code on December 21, 2009.

                     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 28 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).


ACTIVECARE INC: Operating Losses Prompt Going Concern Doubt
-----------------------------------------------------------
Hansen, Barnett & Maxwell, P.C., in Salt Lake City, expressed
substantial doubt about ActiveCare, Inc.'s ability to continue as
a going conern after auditing the Company's financial statements
as of and for the years ended September 30, 2009, and 2008.  The
independent public accounting firm said that the Company has
incurred operating losses and has an accumulated deficit.

The Company reported a net loss of $2,416,363 on sales of $451,570
for the year ended September 30, 2009, compared with a net loss of
$2,278,731 on sales of $608,024 for the year ended September 30,
2008.

During fiscal year 2009, the Company had negative cash flows from
operating activities of $1,121,554, compared to negative cash
flows from operating activities of $1,247,092 in the year ended
September 30, 2008.  As of September 30, 2009, the Company's
working capital deficit was $131,471 and it had an accumulated
deficit of $5,057,151 and total stockholders' equity of $986,437.

At September 30, 2009, the Company's balance sheet showed total
assets of $2,073,704, total liabilities of $1,087,267, and total
stockholders' equity of $986,437.

A full-text copy of the Company's annual report is available for
free at http://researcharchives.com/t/s?4d2e

                      About ActiveCare Inc.

ActiveCare, Inc., manufactures and sells medical diagnostic stains
and equipment to laboratories throughout the United States.  The
company was formerly known as Volu-Sol Reagents Corp. and changed
its name in July 2009.  ActiveCare, Inc., was founded in 1998 and
is based in Salt Lake City, Utah. ActiveCare, Inc., is a former
subsidiary of Remote Mdx Inc.


ADVANTA CORP: Decides to Liquidate Assets
-----------------------------------------
Advanta Corp. (OTC: ADVBQ; ADVNQ) announced January 11 that
consistent with the objectives of filing voluntary petitions for
relief under chapter 11 of the U.S. Bankruptcy Code on November 8,
2009, its Board of Directors has authorized the related
bankruptcy-filing debtor entities to liquidate their assets in
order to maximize value for their stakeholders.  Advanta Bank
Corp. and Advanta Bank were not included in the bankruptcy filing
and are therefore not Debtors.

The Debtors intend to prepare a chapter 11 plan that will describe
the liquidation of assets. As part of the plan to liquidate, the
Company expects to create a liquidating trust or other entity or
vehicle to hold certain assets that it may not be feasible or
desirable to liquidate either now or in the future. The Company
expects that there will be no distributions to the Company's
preferred or common stockholders, nor continuing interest in the
Company (or liquidating trust) on the part of the preferred or
common stockholders, as a result of any plan that is approved by
the Bankruptcy Court.

                       About Advanta Corp.

Advanta Corp. -- http://www.advanta.com/-- has had a 59-year
history of being a leading innovator in the financial services
industry and of providing great value to its stakeholders,
including its senior retail note holders and shareholders, prior
to the recent reversals.  It has also been a major civic and
charitable force in the communities in which it is based,
particularly in the Greater Philadelphia area.

The Federal Deposit Insurance Corporation placed significant
restrictions on the activities of Advanta Corp.'s Advanta Bank
Corp. following financial woes by the banking unit.

As of Sept. 30, 2009, the Company had $2,497,897,000 in assets
against total liabilities of $2,465,936,000 but the figures
included those of the banking units.

On November 8, 2009, Advanta Corp. filed for Chapter 11 (Bankr. D.
Del. Case No. 09-13931).  Attorneys at Weil, Gotshal & Manges LLP,
and Richards, Layton & Finger, P.A., serve as bankruptcy counsel.
Alvarez & Marsal serves as financial advisor.  The Garden City
Group, Inc., serves as claims agent.  The filing did not include
Advanta Bank.  The petition says that Advanta Corp.'s assets
totalled $363,000,000 while debts totalled $331,000,000 as of
Sept. 30, 2009.


ALDA PHARMACEUTICALS: Incurs C$1.2 Million Net Loss in Fiscal 2009
------------------------------------------------------------------
ALDA Pharmaceuticals Corp. reported a net loss of C$1,183,009 on
sales of C$282,261 for the year ended June 30, 2009, compared to a
net loss of C$1,937,735 on sales of C$249,042 for the year ended
June 30, 2008.

The lower net loss for fiscal 2009 was largely due to lower non-
cash stock based compensation expenses of C$336,838 during the
2009 fiscal year compared to C$903,565 during fiscal year 2008.

At June 30, 2009, the Company's consolidated balance sheet showed
C$1,782,098 in total assets, total liabilities of C$56,215, and
total share capital of C$1,725,883.

A full-text copy of the Company's Form 20-F is available at no
charge at http://researcharchives.com/t/s?4d36

                   Going Concern Considerations

The Company has no history of pre-tax profit and in the previous
three years has had only limited annual revenues for each of the
years it has been operating.  At June 30, 2009, the Company had an
accumulated deficit of C$5,724,535.  The continued operation of
the Company will be dependent upon its ability to generate
operating revenues and to procure additional financing.  The
Company may not be successful in generating revenues or raising
capital in the future.  Failure to generate revenues or raise
capital could cause the Company to cease operations.

                    About ALDA Pharmaceuticals

Based in New Westminster, B.C., Canada, ALDA Pharmaceuticals Corp.
(TSX-V: APH, OTC BB: APCSF) -- http://www.aldacorp.com/-- was
established in order to develop and commercialize disinfectant
products.  During its first five years, Company's primary focus
was on product development.  In April, 2009, the Company completed
a line of products that included T36(R) Disinfectant, T36(R)
Antiseptic Hand Sanitizer and T36(R) Disinfectant Cleaner
CONCENTRATE.


ALERIS INTERNATIONAL: Proposes Premium Financing Pact with AFCO
---------------------------------------------------------------
Aleris International, Inc., and its debtor affiliates seek the
Court's authority to enter into an insurance premium financing
agreement with AFCO Credit Corporation.

The Debtors maintain a number of insurance programs for, among
other things, automobile, aviation products, aircraft and related
premises, commercial, crime, employed lawyers, fiduciary,
pollution and remediation, property, punitive damages, umbrella,
employers' directors' and officers' liabilities, and ocean cargo
and war risks with various insurance carriers, to comply with
applicable laws and regulations and to protect against various
risks inherent in the operation of their business.

Paul N. Heath, Esq., at Richards, Layton & Finger, P.A., in
Wilmington, Delaware, tells the Court that on December 16, 2009,
the Debtors renewed 18 policies on directors' and officers'
liabilities, criminal liability, and other risks.  In connection
with that renewal, the Debtors are obligated to pay $4,434,100 in
premiums.

The Debtors have previously financed large portions of premiums
associated with their Insurance Programs in an effort to preserve
liquidity and better manage its cash flow.  The Debtors aver that
continuing that particular business practice will enable them to
preserve liquidity and best manage their cash flow during the
pendency of their Chapter 11 cases.

Under the term of the Financed Policies, the required premiums
must be paid or near the beginning of the policy periods.  In
light of the magnitude of the required premiums, the Debtors
determined that it would be prudent to conserve their liquidity
by financing the premiums.  Accordingly, the Debtors want to
enter into the Premium Financing Agreement with AFCO.

The salient terms of the AFCO Premium Financing Agreement are:

Financed Amount  : AFCO will finance $2,621,668 of the premiums
                   under the Renewed Policies of the Debtors.

Repayment:         The Debtors will be obligated to repay the
                   financed amount, plus a finance charge of
                   $27,118, in seven monthly payments, which are
                   scheduled to begin on January 9, 2010.

Security:          The Debtors' obligations to AFCO will be
                   secured by:

                   (1) all amounts payable under the PFA,
                       including any and all unearned premiums
                       and dividends that may become payable
                       the Financed Policies;

                   (2) loss payments that reduce the unearned
                       premiums, subject to certain conditions;
                       and

                   (3) any interest in favor of the Debtors,
                       which may arise under any state insurance
                       guarantee fund related to the Financed
                       Policies.

Annual
Percentage Rate:    3.095%

Maturity:           August 9, 2010

Default Charges:    If the Debtors are late in the making an
                    installment payment by more than the number
                    of days specified by law, they will pay a
                    delinquency charge not to exceed the maximum
                    charge permitted by law.

Cancellation:       AFCO may cancel the insurance policies after
                    giving any required statutory notice.

Liens:              AFCO is granted a security interest in all
                    unearned premiums and dividends that may
                    become payable under the insurance policies
                    for whatever reason and loss payments that
                    reduce the unearned premiums subject to any
                    mortgagee or loss payee interests.  The
                    Debtors also grant to AFCO interest which
                    may arise under any state insurance
                    guarantee fund relating to any policy shown
                    in the Schedule of Policies.

Fee Charge:         $27,118

Waiver/Limitation
of Liability:       AFCO's liability for breach of any of the
                    PFA's terms or the wrongful exercise of any
                    of its powers will be limited to the amount
                    of the principal balance outstanding under
                    the PFA except in the event of gross
                    negligence or willful misconduct.

Modification of
the Automatic Stay: In the event the Debtors default on any of
                    the terms of the PFA, AFCO may, without
                    further modification of or relief from the
                    automatic stay, cancel all insurance
                    policies listed on the PFA or any
                    amendments, and receive and apply all
                    unearned insurance premiums to the Debtors'
                    account.

The Debtors informed the Court that they received an informal
response from AFCO on January 4, 2010.  According to the Debtors,
they have reached agreement with AFCO to amend the Proposed Order
approving the Motion and clarifying that the relief requested in
the Motion applies to all of the Debtors.  The Revised Proposed
Order also includes a revised PFA.  The only difference between
the Original PFA from the Revised PFA is the inclusion of an
Addendum A, a full-text copy of which is available for free at:

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

Judge Brendan L. Shannon of the U.S. Bankruptcy Court for the
District of Delaware grants the Debtors' request, as modified.

                    About Aleris International

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

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

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


ALERIS INTERNATIONAL: Plan Exclusivity Extended to June 7
---------------------------------------------------------
Judge Brendan Linnehan Shannon has extended Aleris International
Inc. and its units' exclusive deadline to file a plan of
reorganization through June 7, 2010, and their exclusive deadline
to solicit acceptances of that plan through August 6, 2010.

No objections were filed to the requested extension.

Aleris said it needs additional time to nail down "a substantial
investment of new capital" to underlay a plan that would allow
"right-sizing" the capital structure.

                    About Aleris International

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

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

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


ALERIS INTERNATIONAL: Proposes to Hire Financial Balloting Group
----------------------------------------------------------------
Debtor Aleris International, Inc., seeks the Court's authority to
hire Financial Balloting Group LLC as its special balloting
agent, tabulator, and consultant in connection with its publicly
held securities.

The Debtor has selected FBG because of the firm's state-of-the-
art mailing facility and tabulation system.  The Debtor also
notes that FBG is highly experienced in dealing with the various
holders of public securities entitled to vote on any plan of
reorganization proposed.

Jane Sullivan, executive director of FBG, who will have the
primary responsibility over Aleris matters, has over 25 years of
experience in public securities solicitation and  other
transactions and has specialized in bankruptcy solicitations
since 1991.  Ms. Sullivan has worked on over 150 bankruptcy
solicitations including Enron, Global Crossing, Lexington
Precision Corporation, Pacific Gas and Electric, Silicon
Graphics, Inc., and WorldCom.

As special balloting agent, tabulator, and consultant, FBG will:

  (a) provide advice to Aleris and its counsel regarding all
      aspects of the plan vote, including timing issues, voting
      and tabulation procedures, and document needed for the
      vote;

  (b) review the voting portions of the disclosure statement and
      ballots, particularly as they may relate to beneficial o
      owners of securities held in street name;

  (c) work with Aleris to request appropriate information from
      The Depository Trust Company and the indenture trustees
      for the publicly held securities;

  (d) mail voting documents to any registered holders of bonds;

  (e) coordinate the distribution of voting documents to street
      name holders of voting securities by forwarding the
      appropriate documents to the banks and brokerage firms
      holding the securities, who in turn will forward those
      materials to beneficial owners for voting;

  (f) distribute copies of master ballots to the appropriate
      nominees so that firms may cast votes on behalf of
      beneficial owners;

  (g) prepare a certificate of service for filing with the
      Court;

  (h) handle requests for documents from parties-in-interest,
      including brokerage firm and bank back-offices and
      institutional holders;

  (i) respond to telephone inquiries from security holders
      regarding the disclosure statement and the voting
      procedures;

  (j) if requested to do so, make telephone calls to any known
      beneficial owners or registered holders of bonds to
      confirm receipt of plan documents and respond to questions
      about the voting procedures;

  (k) if requested to do so, establish a web site for posting of
      soliciting documents;

  (l) receive and examine all ballots and master ballots cast by
      holders of bonds, and date- and time- stamp the originals
      of all those ballots and master ballots upon receipt;

  (m) tabulate all ballots and master ballots received prior to
      the voting deadline in accordance with established
      procedures and prepare a vote certification for filing
      with the Court; and

  (n) undertake other duties as may be agreed upon by Aleris and
      FGB.

Aleris proposes to pay FBG in accordance with these terms:

     * A $10,000 project fee plus an additional fee of $3,000
       for each issue of public debt securities entitled to vote
       on  any plan.

     * Estimated labor charges at $1.75 -$2.25 per voting
       package, depending on the complexity of the mailing, with
       a $700 minimum for each file.

     * A minimum charge of $125 per hour for the tabulation of
       ballots and master ballots, plus set up charges of $1,000
       for each tabulation element to be tabulated.

     * If FBG is requested to establish a Web site, a hosting
       fee of $150 per month to post relevant documents to the
       FBG documents Web site, with an appropriate extension for
       this solicitation.

     * Consulting hours will be billed at FBG's standard hourly
       rates:

               Professional                  Rate/Hour
               ------------                  --------
               Executive Director             $410
               Vice President                 $360
               Senior Case Manager            $300
               Case Manager                   $240
               Case Analyst                   $190
               Programmer II                  $195
               Programmer I                   $165
               Clerical                        $65

     * Notice mailings to any registered record holders of
       securities and other individual parties would be charged
       as $0.50 -$0.65 per holder, for up to two paper notices
       included in the same envelope, with a $500 minimum.

     * Notice mailings to holders of public securities in street
       name for mailings other than solicitation documents would
       be $3,500.

     * Out-of-pocket expenses relating to any work undertaken
       will be charged separately and will include items as
       travel costs, postage, messengers and couriers etc.

Ms. Sullivan assures the Court that her firm is a "disinterested
person," as that term is defined under Section 101(14) of the
Bankruptcy Code.

The Debtors certified to the Court, on January 6, 2010, that no
objections were filed against the FBG Employment Application.

                    About Aleris International

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

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

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


ALLIS-CHALMERS ENERGY: Amends Investment Deal With Lime Rock
------------------------------------------------------------
Allis-Chalmers Energy Inc. and Lime Rock Partners V, L.P. entered
into a Third Amendment to their Investment Agreement, dated
May 20, 2009.  Pursuant to the Third Amendment, Lime Rock has
agreed to designate their two remaining nominees to the Company's
board of directors by July 16, 2010.

A full-text copy of the amended investment agreement is available
for free at http://ResearchArchives.com/t/s?4d32

                  About Allis-Chalmers Energy

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

At September 30, 2009, the Company's consolidated balance sheets
showed $1.076 billion in total assets, $582 million in total
liabilities, and $494 million in total shareholders' equity.

                         *     *     *

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

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


AMERICAN INT'L: Geithner Cleared Over SEC Disclosure Issue
----------------------------------------------------------
Dow Jones Newswires' Michael R. Crittenden reports that Thomas
Baxter Jr., general counsel at the Federal Reserve Bank of New
York, said in a Friday letter to Rep. Darrell Issa (R, Calif.),
ranking Republican on the House Committee on Oversight and
Government Reform, that Treasury Secretary Timothy Geithner --
then New York Fed President -- was not involved in deliberations
between the New York Fed and American International Group Inc.
over what AIG should disclose in regulatory filings.

According to Hugh Son at Bloomberg News, AIG said in a draft of a
regulatory filing that it paid banks, which included Goldman Sachs
Group Inc. and Societe Generale SA, 100 cents on the dollar for
credit-default swaps they bought from the firm.  Bloomberg relates
the New York Fed crossed out the reference, according to e-mails
obtained by Mr. Issa's office, and AIG excluded the language when
the filing was made public on December 24, 2008.

According to Dow Jones, AIG later had to amend its regulatory
filings several times and provide the information after the
Securities and Exchange Commission requested more disclosure.

According to Dow Jones, Mr. Baxter said in his letter that the
matters "were not brought to the attention of Mr. Geithner"
because the general counsel felt it "did not warrant the
attention" of the then head of the New York Fed.

Dow Jones reports Mr. Issa said Mr. Baxter's letter provides an
incomplete picture of the high-stakes negotiations between AIG and
the New York Fed.  In a statement released by his office, he said
Mr. Baxter has been asked to meet with committee investigators.
According to Dow Jones, the House Oversight panel, chaired by Rep.
Edolphus Towns (D, N.Y.), is scheduled to hold a hearing on AIG
later this month, to which Messrs. Geithner and Baxter have been
invited to appear.

                          About AIG Inc.

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 from the U.S. government, and continues to
seek buyers of its assets.


ANTHRACITE CAPITAL: Did Not Pay Interest Due on Four Notes
----------------------------------------------------------
Anthracite Capital, Inc. said it did not make interest payments
due on date on its outstanding:

  * $18.75 million aggregate principal amount of 7.20% Senior
    Notes due 2016;

  * $7.5 million aggregate principal amount of 1.25% to 7.20%
    Senior Notes due 2016;

  * $43.75 million aggregate principal amount of 0.75% to 7.77%
    Junior Subordinated Notes due 2036; and

  * approximately $19 million aggregate principal amount of 0.75%
    to 7.77%-to-Floating Rate Junior Subordinated Notes due 2036

    issued to Anthracite Capital Trust III in connection with
$18.75 million aggregate liquidation amount of preferred
securities issued by Trust III, which in turn did not make the
scheduled dividend payment on the TruPS.

Under the indenture governing the 7.20% notes, the failure to make
an interest payment is subject to a 30-day cure period before
constituting an event of default.  The Company does not anticipate
being able to cure the interest payment default within the 30-day
period, and it is expected that an event of default will occur
under the indenture governing the 7.20% notes.  Under each of the
indentures governing the restructured notes, the failure to make
an interest payment is subject to a 3-day cure period before
constituting an event of default.  The Company failed to make the
interest payments on the restructured notes within the 3-day
period.  As a result, an event of default occurred and is
continuing under each of the indentures governing the restructured
notes.

While the events of default are continuing under the indentures
governing the restructured notes, the trustee or the holders of at
least 25% in aggregate principal amount of any of the outstanding
restructured notes may, by a written notice to the Company,
declare the principal amount of such notes to be immediately due
and payable.  To date, the Company has not received any such
written notice of acceleration.

                    About Anthracite Capital

Anthracite Capital, Inc., is a specialty finance company focused
on investments in high yield commercial real estate loans and
related securities.  Anthracite is externally managed by BlackRock
Financial Management, Inc., which is a subsidiary of BlackRock,
Inc., one of the largest publicly traded investment management
firms in the United States with approximately $1.435 trillion in
global assets under management at September 30, 2009.  BlackRock
Realty Advisors, Inc., another subsidiary of BlackRock, provides
real estate equity and other real estate-related products and
services in a variety of strategies to meet the needs of
institutional investors.

At September 30, 2009, the Company had $2,601,125,000 in total
assets against $2,064,290,000 in total liabilities, $23,237,000 in
12% Series E-1 Cumulative Convertible Redeemable Preferred Stock,
and $23,237,000 in 12% Series E-2 Cumulative Convertible
Redeemable Preferred Stock, resulting in stockholders' equity of
$490,361,000.


ARCH ALUMINUM: Has Sale and Loan Hearing this Week
--------------------------------------------------
Bill Rochelle at Bloomberg News reports that the U.S. Bankruptcy
Court for the Southern District of Florida will convene a hearing
January 14 to consider approval of the sale of the assets of Arch
Aluminum & Glass Co.

Arch Aluminum is under contract to sell its assets to Arch Glass
Acquisition Company, an affiliate of Grey Mountain Partners of
Boulder, Colorado, for $62 million, absent higher and better bids
at an auction on January 13.  Competing bids were due January 8.

Arch Aluminum has received interim approval on Jan. 8 to borrow
$620,000.  The bankruptcy judge will consider approval of the
entire $4 million DIP financing on January 14.

                          About Arch Aluminum

Tamarac, Florida-based Arch Aluminum & Glass Co., Inc. -- fka
Trident Consolidated Industries, Arch, Inc., and Arch Tulsa
Acquisition Co.; and dba Arch Mirror North, Arch Mirror South,
Architectural Safety Glass, Arch Mirror West, Arch Tempered Glass
Products, and Arch Deco Glass -- was founded in 1978 by Robert
Silverstein, as a small South Florida glass and metal distributor
with a single truck.  During the 1980's the Company opened
fabrication facilities and additional distribution facilities in
Florida and the Northeast.  The Company provides a comprehensive
line of products and services to more than 5,000 customers from 28
office, manufacturing and distribution facilities located in 19
states nationwide.

The Company filed for Chapter 11 bankruptcy protection on
November 25, 2009 (Bankr. S.D. Fla. Case No. 09-36232).  The
Company listed $100,000,001 to $500,000,000 in assets and
$100,000,001 to $500,000,000 in liabilities.

The Company's affiliates -- Arch Aluminum L.C.; AWP, LLC, dba
Yale-Ogron; Arch Aluminum and Glass International Inc.; and AAG
Holdings, Inc. -- also filed separate Chapter 11 petition.

Paul J. Battista, Esq., at Genovese Jblove & Battista, P.A.,
assists the Debtors in their restructuring efforts.  Schnader
Harrison Segal & Lewis LLP is the Debtors' special counsel.
Vincen J. Colistra at Phoenix Management Services is the Debtors'
restructuring services provider.  Michael Dillahunt and Piper
Jaffrey & Co. is the Debtors' investment banker.


BEAZER HOMES: Fitch Assigns 'C/RR6' Rating on $50 Mil. Notes
------------------------------------------------------------
Fitch Ratings expects to assign a 'C/RR6' rating to Beazer Homes
USA, Inc.'s proposed offering of $50 million 7.5% mandatory
convertible subordinated notes due 2013.  The notes issuance will
rank junior to all of the company's existing and future senior
notes and will rank ahead of the company's $103 million junior
subordinated notes.  Concurrent with the notes offering, Beazer is
also offering 19.5 million shares of its common stock at $4.60 per
share.  Proceeds from these offerings will be used to replenish
funds used in connection with the redemption of its 2011 senior
notes.  Prior to the closing of the notes offering, the company
intends to issue an irrevocable notice to redeem in full all of
its outstanding 8 5/8% senior notes due May 15, 2011, which has an
outstanding balance of $127.3 million.  The redemption price for
the notes will equal 100% of the outstanding principal plus
accrued interest.

Fitch has also affirmed these ratings:

  -- Issuer Default Rating at 'CCC';
  -- Secured revolving credit facility at 'B+/RR1';
  -- Second lien secured notes at 'B+/RR1';
  -- Senior unsecured notes at 'CC/RR5';
  -- Convertible senior notes at 'CC/RR5';
  -- Junior subordinated debt at 'C/RR6'.

The Rating Outlook has been revised to Stable from Negative.

The Recovery Rating of 'RR6' on the proposed mandatory convertible
subordinated notes and the existing junior subordinated notes
indicates poor recovery prospects for holders of these debt issues
in a default scenario.  The 'RR1' on Beazer's secured credit
revolving credit facility and second-lien secured notes indicates
outstanding recovery prospects for holders of these debt issues.
The 'RR5' on Beazer's senior unsecured notes indicates below-
average recovery prospects for holders of these debt issues.
Beazer's exposure to claims made pursuant to performance bonds and
joint venture debt and the possibility that part of these
contingent liabilities would have a claim against the company's
assets were considered in determining the recovery for the
unsecured debt holders.  Fitch applied a liquidation value
analysis for these RRs.

The ratings for Beazer and the Outlook revision to Stable from
Negative reflect the company's healthier liquidity position as
well as improved prospects for the housing sector this year.  The
company ended its fiscal year (ended Sept. 30, 2009) with
unrestricted cash of $507.3 million.  The company also recently
filed an application for a federal income tax refund of
approximately $100 million as a result of the tax legislation
enacted in November 2009.  With the proposed redemption of the
2011 notes, Beazer will not have any major debt maturities until
April 2012, when $304 million of senior notes become due.

Various macro housing and related statistics appear to have
bottomed at about mid-year 2009 and subsequently have moved
forward in fits and starts.  During the first 12-15 months from
the bottom, the housing recovery may appear jaw-toothed as
substantial foreclosures now in the pipeline present as distressed
sales, and as meaningful new foreclosures arise from Alt-A and
option adjustable-rate mortgage resets.  After falling by 13.1% in
2008, existing home sales are projected to increase 4.6% 2009 and
grow 6.5% in 2010.  Fitch projects total housing starts to fall
40% and for single family housing starts to decline 30.6% in 2009.
In 2010, total and single-family housing starts are projected to
increase 14.8% and 18.6%, respectively.  New single-family home
sales are projected to drop 23.5% in 2009 and to grow 19.9% in
2010.  Most recently, the company reported that net orders for its
FY10 first quarter (ended Dec. 31) improved 37% and closings
increased by 8% compared to last year.

Beazer generated $93.8 million of cash flow from operations during
fiscal year 2009, which included $172.5 million of tax refunds
during the year.  For all of fiscal 2010, Fitch expects Beazer to
be cash flow negative, excluding the expected second-quarter tax
refund of $101 million, as the company starts to rebuild its land
position (through land purchases and development spending).

Beazer amended its secured revolving credit facility in 2009 and
reduced the size from $150 million to $22 million and the facility
is now provided one lender.  The amended facility will continue to
provide for working capital and letter of credit needs
collateralized by either cash or assets of the company.  Beazer
also entered into three stand-alone, cash-secured, letters of
credit agreements with banks to maintain pre-existing letters of
credit that had been outstanding under the $150 million revolver.
Consistent with Fitch's comment on certain homebuilders'
termination of revolving credit facilities, in the absence of a
revolving credit line, a consistently higher level of cash and
equivalents than was typical should be maintained on the balance
sheet, especially in these still uncertain times.

Future ratings and Outlooks will be influenced by broad housing
market trends as well as company specific activity, such as trends
in land and development spending, general inventory levels,
speculative inventory activity (including the impact of high
cancellation rates on such activity), gross and net new order
activity, debt levels and especially free cash flow trends and
uses, and the company's cash position.


BEAZER HOMES: S&P Assigns 'CC' Rating on $50 Mil. Notes
-------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'CC' issue rating
and its '6' recovery rating to Beazer Homes USA Inc.'s proposed
$50 million 7.5% mandatory convertible subordinated notes due
2013.  Beazer will use proceeds from the new notes, as well as a
proposed $90 million equity offering, to redeem $127 million of
senior notes due 2011, which the company can call at par.

S&P also affirmed its 'CCC' corporate credit rating on Beazer and
raised its issue rating on the company's senior unsecured notes to
'CC' from 'D' because, in S&P's view, the potential for selective
defaults has diminished.  S&P revised its outlook on the company
to positive from negative to reflect an improving liquidity
profile as well as its expectations for narrower operating losses
in 2010.

"S&P's ratings on Beazer continue to reflect weak demand for the
company's homes, as well as the company's very highly leveraged
capital structure," said Standard & Poor's credit analyst James
Fielding.  "That being said, the proposed transactions lessen
near-term maturity risk, while the equity offering will modestly
improve a small estimated cushion over a minimum tangible net
worth covenant governing many of the company's senior unsecured
notes."

Liquidity and tangible net worth will further benefit from a
$101 million tax refund that the company expects to receive during
its second fiscal quarter ending March 31, 2010.

The positive outlook acknowledges Beazer's improving liquidity
profile, as well as S&P's expectations for narrower operating
losses in the near term.  S&P would raise its corporate credit
rating on Beazer by one or more notches if its profitability
continues to improve and if the company maintains or builds upon
its current cash balance.  Conversely, S&P would lower its rating
if liquidity contracts materially, perhaps due to a second severe
dip in the nation's housing markets or as a consequence of adverse
legal decisions.

                           Rating List

                          Rating Assigned

                       Beazer Homes USA Inc.

   $50 million 7.5% mandatory convertible sub note due 2013   CC
   Recovery rating                                            6

                          Ratings Raised

                      Beazer Homes USA Inc.

                                  To                  From
                                  --                  ----
         Senior unsecured notes   CC                  D
         Recovery rating          6                   6

           Rating Affirmed; Outlook Revised To Positive

                       Beazer Homes USA Inc.

                             To                  From
                             --                  ----
    Corporate credit         CCC/Positive/--     CCC/Negative/--

                         Ratings Affirmed

                       Beazer Homes USA Inc.

        Senior secured (2nd lien) due 2017           CCC+
          Recovery rating                            2


BERNARD KOSAR: Court Converts Case to Chapter 7 Liquidation
-----------------------------------------------------------
The Hon. Raymond B. Ray of the U.S. Bankruptcy Court in Florida
(i) converted the Chapter 11 case of Bernard Kosar to a Chapter 7
liquidation proceeding and (ii) appointed Robert C. Furr, as
trustee to sell and distribute the proceeds to creditors,
Bloomberg News reported.

Bernard J. Kosar, Jr., is a former Cleveland Browns and University
of Miami quarterback.  He lives in the Fort Lauderdale suburb of
Weston.  Mr. Kosar filed for Chapter 11 on June 19, 2009 (Bankr.
S.D. Fla. Case No. 09-22371).  Julianne R. Frank, Esq., represents
Mr. Kosar.  Mr. Kosar listed assets listed $9.2 million in assets
and $18.9 million in debt.


BILL BARRETT: S&P Raises Rating on Unsecured Debt to 'BB-'
----------------------------------------------------------
Standard & Poor's Ratings Services said that it raised its issue-
level rating on Bill Barrett Corp.'s unsecured debt to 'BB-' (the
same as the corporate credit rating) from 'B+'.  At the same time,
Standard & Poor's revised the recovery rating on this debt to '4',
indicating expectations of average (30%-50%) recovery in the event
of a payment default, from a '5'.

"These rating actions reflect a recent increase in the commitment
under the company's unrated revolving credit facility to
$592.8 million from $537.5 million as well as updated reserve
values," said Standard & Poor's credit analyst Amy Eddy.

The corporate credit rating on the company is 'BB-' and the
outlook is stable.  The ratings on Bill Barrett reflect the oil
and gas exploration and production industry's highly capital
intensive and cyclical nature; limited scale with significant
concentration in the Rocky Mountain region, which generally
results in lower price realizations; and S&P's view that U.S.
natural gas prices are likely to remain weak in the near term.

                           Ratings List

                        Bill Barrett Corp.

           Corporate Credit Rating       BB-/Stable/--

         Revised Ratings               To            From
         ---------------               --            ----
         Senior unsecured debt         BB-           B+
          Recovery rating              4             5


BIONALYTICAL SYSTEMS: Delays Filing of Form 10-K for Fiscal 2009
----------------------------------------------------------------
In a regulatory filing, Bioanalytical Systems, Inc., discloses
that it is unable to file its Form 10-K for the fiscal year ended
September 30, 2009, within the prescribed time period without
unreasonable effort and expense.  Nevertheless, the Company
anticipates completing such filing on or before the 15th calendar
day following the prescribed due date.

Results of operations for the fiscal year ended September 30,
2009, to be included in the Company's Annual Report on Form 10-K
are expected to include a 23.8% decline in revenues to
$31.8 million for the year ended September 30, 2009, from
$41.7 million for the prior fiscal year.  The Company also expects
to report a decline in gross profit, from $15.3 million in fiscal
2008 to $7.6 million in fiscal 2009, an operating income of $2.8
million in fiscal 2008 to a loss of $4.6 million in fiscal 2009,
and an increase in net loss from $1.5 million in fiscal 2008 to
$5.5 million in fiscal 2009.

                Fiscal 2009 Third Quarter Results

The Company reported a net loss of $632,000, or $0.13 per basic
and diluted share for the third quarter ended June 30, 2009,
compared to a net loss of $254,000, or $0.05 per basic and diluted
share, for the third quarter of fiscal 2008.  Included in the net
loss for the fiscal 2009 third quarter was an impairment charge of
$472,000 eliminating the goodwill of the Company's UK subsidiary.
Results for the fiscal 2008 third quarter includes a loss from
discontinued operations of the Company's Baltimore Clinical
Pharmacology Research Unit in the amount of $661,000.

A full-text copy of the Company's fiscal 2009 third quarter report
is available at no charge at http://researcharchives.com/t/s?4d34

                   About Bioanalytical Systems

Based in West Lafayette, Indiana, Bioanalytical Systems, Inc. --
http://www.BASInc.com/-- is a pharmaceutical development company
providing contract research services and monitoring instruments to
the world's leading drug development companies and medical
research organizations.

                          *     *     *

The Company's existing revolving credit agreement with National
City Bank expired on December 31, 2009.  The Company has been
informed by its independent registered public accounting firm that
without replacement financing to satisfy the auditors' concerns
regarding the Company's liquidity and debt covenant margins, their
audit opinion will include an explanatory paragraph indicating
substantial doubt about the Company's ability to continue as a
going concern.


BLUE HERON PAPER: Files List of 20 Largest Unsecured Creditors
--------------------------------------------------------------
Blue Heron Paper Company has filed with the U.S. Bankruptcy Court
for the District of Oregon a list of its 20 largest unsecured
creditors.

A full-text copy of the Debtor's list of creditors is available
for free at http://bankrupt.com/misc/orb09-40921.pdf

Oregon City, Oregon-based Blue Heron Paper Company filed for
Chapter 11 bankruptcy protection on December 31, 2009 (Bankr. D.
Ore. Case No. 09-40921).  Brandy A. Sargent, Esq., and Robert J.
Vanden Bos, Esq., who have offices in Portland, Oregon, assist the
Company in its restructuring effort.  The Company listed
$10,000,001 to $50,000,000 in assets and $10,000,001 to
$50,000,000 in liabilities.


BLUE HERON PAPER: Sec. 341 Creditors Meeting Set for Feb. 2
-----------------------------------------------------------
The U.S. Trustee for Region 18 will convene a meeting of Blue
Heron Paper Company's creditors on February 2, 2010, at 1:30 p.m.
at US Trustee's Office, 620 SW Main Street, Room 223, Portland, OR
97205.

This is the first meeting of creditors required under Section
341(a) of the U.S. Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
Meeting of Creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

Oregon City, Oregon-based Blue Heron Paper Company filed for
Chapter 11 bankruptcy protection on December 31, 2009 (Bankr. D.
Ore. Case No. 09-40921).  Brandy A. Sargent, Esq., and Robert J.
Vanden Bos, Esq., who have offices in Portland, Oregon, assist the
Company in its restructuring effort.  The Company listed
$10,000,001 to $50,000,000 in assets and $10,000,001 to
$50,000,000 in liabilities.


BLUE HERON PAPER: Wants to Hire Vanden Bos as Special Counsel
-------------------------------------------------------------
Blue Heron Paper Company has sought permission from the U.S.
Bankruptcy Court for the District of Oregon to employ Vanden Bos &
Chapman, LLP, as special counsel.

Vanden Bos will:

     (a) file the Debtor's motion to determine adequate assurance
         to Utility Companies, and handling any objections which
         may be filed to such motion; and

     (b) represent the Debtor's interest in matters directly
         affecting current clients of Stoel Rives LLP.

Vanden Bos will be paid based on the hourly rates of its
personnel:

          Robert J. Vanden Bos, Partner              $440
          Ann K. Chapman, Partner                    $395
          Douglas R. Ricks, Associate                $285
          Michael A. Elson, Associate                $240
          Christopher N. Coyle, Associate            $240
          Legal Assistants                           $180

The Debtor assures the Court that Vanden Bos is "disinterested" as
that term is defined in Section 101(14) of the Bankruptcy Code.

Oregon City, Oregon-based Blue Heron Paper Company filed for
Chapter 11 bankruptcy protection on December 31, 2009 (Bankr. D.
Ore. Case No. 09-40921).  Brandy A. Sargent, Esq., and Robert J.
Vanden Bos, Esq., who have offices in Portland, Oregon, assist the
Company in its restructuring effort.  The Company listed
$10,000,001 to $50,000,000 in assets and $10,000,001 to
$50,000,000 in liabilities.


BLUE HERON PAPER: Wants to Hire Stoel Rives as Bankruptcy Counsel
-----------------------------------------------------------------
Blue Heron Paper Company has sought permission from the U.S.
Bankruptcy Court for the District of Oregon to employ Stoel Rives
LLP as bankruptcy counsel.

Stoel Rives will, among other things:

     a. take necessary action to protect and preserve Debtor's
        estate, including the prosecution of actions on Debtor's
        behalf; the defense of actions commenced against Debtor;
        negotiations concerning litigation in which Debtor is
        involved, and objections to claims filed against the
        estate;

     b. prepare on Debtor's behalf motions, applications, answers,
        orders, reports, and papers necessary to the
        administration of the estate;

     c. negotiate and prepare on Debtor's behalf a plan of
        reorganization, disclosure statement, and all related
        agreements and/or documents, and take necessary action on
        Debtor's behalf to obtain confirmation of such plan; and

     d. represent Debtor in connection with obtaining financing,
        if any.

The Debtor says that it will pay Stoel Rives based on the hourly
rates of its personnel:

           David B. Levant, Partner           $500
           Brandy Sargent, Associate          $375
           Erin Eliasen, Associate            $375

The Debtor believes that Stoel Rives is "disinterested" as that
term is defined in Section 101(14) of the Bankruptcy Code.

Debtor has filed an application to employ Vanden Bos as co-counsel
to Stoel Rives in these cases.  As co-counsel, Stoel Rives and
Vanden Bos are committed to minimizing any duplication of efforts
between the firms.

Oregon City, Oregon-based Blue Heron Paper Company filed for
Chapter 11 bankruptcy protection on December 31, 2009 (Bankr. D.
Ore. Case No. 09-40921).  Brandy A. Sargent, Esq., and Robert J.
Vanden Bos, Esq., who have offices in Portland, Oregon, assist the
Company in its restructuring effort.  The Company listed
$10,000,001 to $50,000,000 in assets and $10,000,001 to
$50,000,000 in liabilities.


BROADWAY MASS ASSOCIATES: Files for Bankruptcy in Wilmington, Del.
------------------------------------------------------------------
Broadway 401 LLC, Broadway Mass Associates LLC and Broadway Mass
TIC I LLC -- related entities that developed two adjoining
buildings in Washington, D.C. -- have commenced prepackaged
bankruptcy cases before the U.S. Bankruptcy Court for the District
of Delaware.

NetDockets relates Broadway 401 LLC, Broadway Mass Associates LLC
and Broadway Mass TIC I LLC, are owned by Lazar Muller, Samuel
Weiss, Charles Herzka, David Weldler and the 1997 Neumann Family
Trust.  The Debtors acquired the property located at 401
Massachusetts Ave. and 425 Massachusetts Ave. between December
2004 and January 2006 for more than $47 million.  Since that time,
they've improved the properties with two 14-story residential
towers containing 559 residential condominiums. The towers are
known as "The Dumont" and are reportedly "vacant but essentially
. . . complete and ready for occupancy."

According to NetDockets, in January 2009, the Debtors' senior
lenders filed a public notice of foreclosure sale of both
properties and began attempting to find a purchaser. In the spring
of 2009, the lenders received preliminary bids for both buildings
ranging between $90-133 million. The lenders then sought bids for
the buildings separately and decided to accept an offer for 425
Mass. Ave. in the amount of $100 million.

NetDockets says that purchaser sought to have the transaction
consummated through a confirmed chapter 11 plan of reorganization.
However, those discussions subsequently broke down and discussions
with new acquirers have not been finalized. Nevertheless, the
companies are proposing a prepackaged plan which provides for the
conveyance of both properties to an affiliate of their senior
lenders or a third-party purchaser in satisfaction of their senior
debt pursuant to a global settlement between the debtors, their
senior and mezzanine lenders and the guarantors of their
obligations.


BRIAN GARBUTT: Sec. 341 Creditors Meeting Set for Feb. 8
--------------------------------------------------------
The U.S. Trustee for Region 16 will convene a meeting of Brian D.
Garbutt's creditors on February 8, 2010, at 11:00 a.m. at Room 1-
159, 411 W Fourth Street, Santa Ana, CA 92701.

This is the first meeting of creditors required under Section
341(a) of the U.S. Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
Meeting of Creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

Newport Beach, California-based Brian D. Garbutt filed for Chapter
11 bankruptcy protection on December 31, 2009 (Bankr. C.D. Calif.
Case No. 09-24606).  Steven K. Kop, Esq., at the Law Offices of
Steven K. Kop, assists the Company in its restructuring effort.
The Company has assets of $10,012,900 and total debts of
$4,700,500.


BROADWAY MASS ASSOCIATES: Files for Bankruptcy in Wilmington, Del.
------------------------------------------------------------------
Broadway 401 LLC, Broadway Mass Associates LLC and Broadway Mass
TIC I LLC -- related entities that developed two adjoining
buildings in Washington, D.C. -- have commenced prepackaged
bankruptcy cases before the U.S. Bankruptcy Court for the District
of Delaware.

NetDockets relates Broadway 401 LLC, Broadway Mass Associates LLC
and Broadway Mass TIC I LLC, are owned by Lazar Muller, Samuel
Weiss, Charles Herzka, David Weldler and the 1997 Neumann Family
Trust.  The Debtors acquired the property located at 401
Massachusetts Ave. and 425 Massachusetts Ave. between December
2004 and January 2006 for more than $47 million.  Since that time,
they've improved the properties with two 14-story residential
towers containing 559 residential condominiums. The towers are
known as "The Dumont" and are reportedly "vacant but essentially
. . . complete and ready for occupancy."

According to NetDockets, in January 2009, the Debtors' senior
lenders filed a public notice of foreclosure sale of both
properties and began attempting to find a purchaser. In the spring
of 2009, the lenders received preliminary bids for both buildings
ranging between $90-133 million. The lenders then sought bids for
the buildings separately and decided to accept an offer for 425
Mass. Ave. in the amount of $100 million.

NetDockets says that purchaser sought to have the transaction
consummated through a confirmed chapter 11 plan of reorganization.
However, those discussions subsequently broke down and discussions
with new acquirers have not been finalized. Nevertheless, the
companies are proposing a prepackaged plan which provides for the
conveyance of both properties to an affiliate of their senior
lenders or a third-party purchaser in satisfaction of their senior
debt pursuant to a global settlement between the debtors, their
senior and mezzanine lenders and the guarantors of their
obligations.


CANWEST LIMITED: Moody's Downgrades Default Rating to 'D'
---------------------------------------------------------
Moody's Investors Service downgraded the probability of default
rating for Canwest Limited Patnership to D in response to the
company's announcement that it and certain key subsidiary
companies had filed voluntary petitions for reorganization under
the Companies' Creditors Arrangements Act.  Expectations of an
above-average recovery cause the corporate family rating to be
upgraded to Caa3.  Shortly following this rating action, Moody's
will withdraw all of the relevant ratings.

Rating Actions:

Issuer: Canwest Limited Partnership

  -- Probability of Default Rating, Downgraded to D from Ca

  -- Corporate Family Rating, Upgraded to Caa3 from Ca

  -- Senior Secured Bank Credit Facility, Upgraded to Caa2 (LGD2,
     16%) from Caa3 (LGD3, 30%)

  -- Senior Subordinated Regular Bond/Debenture, Upgraded to Ca
     (LGD4, 66%) from C (LGD5, 84%)

Moody's most recent rating action concerning Canwest Limited
Partnership was taken on June 5, 2009, at which time the company's
probability of default rating was downgraded to Ca/LD as a
consequence an interest/principal payment pursuant to its senior
secured credit facility not having been paid prior to the
expiration of the applicable cure period.

Canwest Limited Partnership is a Winnipeg, Manitoba based
newspaper publishing company that is wholly owned through Canwest
Media Inc. by Canwest Global Communications Corp. (a publicly
traded international media company with interests in broadcast
television, publications, radio, specialty television channels,
out-of-home advertising and interactive operations in Canada,
Australia, Malaysia, Singapore, Indonesia, the United Kingdom and
the United States).


CENTRAL METAL: Case Summary & 9 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Central Metal, Inc.
        8201 Santa Fe Avenue
        Huntington Park, CA 90255

Bankruptcy Case No.: 10-10642

Chapter 11 Petition Date: January 8, 2010

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

Judge: Vincent P. Zurzolo

Debtor's Counsel: Juliet Y. Oh, Esq.
                  10250 Constellation Blvd Ste 1700
                  Los Angeles, CA 90067
                  Tel: (310) 229-1234
                  Email: jyo@lnbrb.com

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

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

The petition was signed by Jong Uk Byun, the company's president
and chief executive officer.

Debtor's List of 9 Largest Unsecured Creditors:

  Entity                   Nature of Claim        Claim Amount
  ------                   ---------------        ------------
Sun Construction                                  $2,200,000
26071 Hinckley Street
Loma Linda, CA 92354

Bay City Trading                                  $1,200,000
4051 Via Oro
Long Beach, CA 90810

Zimex Logitech, Inc.                              $240,000


US Bank                    Credit card            $21,639

American Express           Credit card            $3,001

Bank of America            Credit card            $2,002

American Express           Credit card            $513

American Express           Credit card            $408

US Bank                    Credit card            $39


CHAMPION ENTERPRISES: Credit Suisse DIP Loan Gets Final Approval
----------------------------------------------------------------
The Hon. Kevin Gross of the U.S. Bankruptcy Court for the
District of Delaware, in a final order, authorized Champion
Enterprises, Inc., et al., to obtain secured financing from a
syndicate of lenders led by Credit Suisse AG, Cayman Islands
Branch, as administrative agent.

The DIP lenders have committed to provide a senior secured first
priority DIP facility comprising:

     a. up to $2 million synthetic letter of credit facility for
        new letters of credit;

     b. up to $38 million in principal amount of new money loans,
        of which up to $30,335,052 in principal amount will be
        advanced on the closing date and the remaining balance
        will be made available upon entry of the final order; and

     c. a dollar-for-dollar roll-up of up to $40 million in
        principal amount of outstanding prepetition loans and
        other credit extensions of the lenders under the
        prepetition credit agreement who fund the New Money Loans
        and DIP LCs, plus an additional principal amount equal to
        any amount of interest on the Roll-Up Loans that is paid
        in kind.

The Debtors would use the money to fund their Chapter 11 case, pay
suppliers and other parties.

The DIP facility will mature four and a half months from the
petition date.  The New Money Loan will be payable on the last
business day at the end of each fiscal month at 10% plus adjusted
LIBO Rate, or 9.00% plus the greatest of adjusted base rate from
the time in effect or adjusted LIBO Rate.  Participation Fees on
the DIP LCs will accrue at a rate per annum equal to the sum of
the Adjusted LIBO Rate for the relevant investments periods plus
an applicable margin of 10.00%.  Interest on the Roll-Up Loan will
be payable on the last business day at the end of each fiscal
month at 8.5% plus the adjusted LIBO Rate, or 7.50% plus the
greatest of the adjusted base rate and adjusted LIBO Rate.  In the
event of default, the Debtors will pay an additional 2% default
interest per annum in excess of the (i) the ABR Rate with respect
to the New Money Loans and the synthetic deposits (DIP LCs) and
(ii) the Roll-Up ABR Rate with respect to the Roll-Up Loans,
except that the interest applicable to any Sterling Term Loan will
be the Roll-Up Adjusted LIBO Rate.

Upon the occurrence of the maturity date or the refinancing of the
DIP Loan, each Lender will be entitled to receive an exit fee
equal to the product of 0.25% and the then outstanding principal
amount of the Lender's DIP Loan.  The Debtors will pay upfront
fees to (a) the administrative agent and the lead arranger, (b)
the backstop lenders.  Upon the closing of the DIP Credit
Agreement, the Debtors will pay each lender under the prepetition
credit agreement that consents to the transactions referred to
herein a consent fee of 0.50% on the amount of the lender's
outstanding loans and commitments under the prepetition credit
agreement, a fee to be payable in kind by adding the amount to the
principal amount of the lender's loans under the prepetition
agreement.

To secure all obligations of each Debtor and guarantor under the
DIP Credit Agreement, the collateral agent, for the benefit of the
lender, will receive a fully perfected first priority pledge of
all equity interests in the Debtors, each guarantor and CBS Monaco
Limited, all inter-company notes or inter-company receivables due
to the Debtors and guarantors, and a fully perfected first
priority security interest in all prepetition and postpetition
assets of each Debtor.

The DIP lien is subject to a carve-out for U.S. Trustee and Clerk
of Court fees.

The Debtors are also authorized to use their prepetition lenders'
cash collateral to provide additional liquidity.

In exchange for using the cash collateral, the prepetition lenders
will maintain security interests in and liens upon all of the
collateral and are also granted a replacement security interest in
and lien upon all the collateral, subject and subordinate to the
DIP Liens and the carve-out.  The Lenders will receive an
administrative claim with priority over all administrative expense
claims and unsecured claims against the Debtors, subject to the
carve-out and to the superpriority claims granted to the
administrative agent, collateral agent and the lenders under the
DIP credit agreement.

The prepetition agents will receive from the Debtors current cash
payments of all fees and expenses payable to the prepetition
agents under the prepetition agreements, inlcuding reasonable fees
and disbursements of counsel, financial and other consultants for
the prepetition agents.

                    About Champion Enterprises

Troy, Michigan-based Champion Enterprises, Inc., and its
subsidiaries are international manufacturers of factory-built
homes and steel-framed modular buildings, with operations in the
United States, Canada and the United Kingdom. Buildings
constructed by Champion and its subsidiaries consist of both
single and multi-module units designed for either commercial or
residential purposes.  Champion products range from single-module
HUD-Code homes to sophisticated commercial structures such as
hotels.

The Company filed for Chapter 11 on November 15, 2009 (Bankr. D.
Del. Case No. 09-14019).  The Company's affiliates also filed
separate bankruptcy petitions.  James E. O'Neill, Esq., Laura
Davis Jones, Esq., Mark M. Billion, Esq., Timothy P. Cairns, Esq.,
at Pachulski Stang Ziehl & Jones LLP, assist Champion in its
restructuring effort.  The Company listed $576,527,000 in assets
and $521,337,000 in liabilities as of October 3, 2009.


CHUGH SHOPPING: U.S. Trustee Unable to Appoint Creditors Committee
------------------------------------------------------------------
The Office of the U.S. Trustee for Region 21 notified the U.S.
Bankruptcy Court for the Northern District of Georgia that it was
unable to appoint a committee of creditors holding unsecured
claims in the Chapter 11 case of Chugh Shopping Center, Inc.

Covington, Georgia-based Chugh Shopping Center, Inc., filed for
Chapter 11 bankruptcy protection on November 3, 2009 (Bankr. N.D.
Ga. Case No. 09-89439).  Parmesh N. Dixit, Esq., who has an office
in Atlanta, Georgia, assists the Company in its restructuring
effort.  The Company listed $10,000,001 to $50,000,000 in assets
and debts.


CITIGROUP INC: John Deucth Won't Stand for Re-Election
------------------------------------------------------
John Deutch, a member of the Board of Directors of Citigroup Inc.,
said that he will not stand for re-election to the Board at
Citigroup's next Annual Meeting of Stockholders, scheduled for
April 20, 2010.

Based in New York, Citigroup Inc. (NYSE: C) -- is a global
diversified financial services holding company whose businesses
provide a broad range of financial services to consumer and
corporate customers.  Citigroup has roughly 200 million customer
accounts and does business in more than 140 countries.
Citigroup's businesses are aligned in three reporting segments:
(i) Citicorp, which consists of Regional Consumer Banking (in
North America, EMEA, Asia, and Latin America) and the
Institutional Clients Group (Securities and Banking, including the
Private Bank, and Transaction Services); (ii) Citi Holdings, which
consists of Brokerage and Asset Management, Local Consumer
Lending, and a Special Asset Pool; and (iii) Corporate/Other.

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

Citigroup, the third-biggest U.S. bank, received $45 billion in
bailout aid.  Other bailed-out banks, including Bank of America
Corp., Wells Fargo & Co., have pledged to repay TARP money.
JPMorgan Chase & Co., Goldman Sachs Group Inc. and Morgan Stanley,
repaid TARP funds in June.  Citigroup is selling assets to repay
the bailout funds.

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


CITIGROUP INC: Peterson Leaves Japan Unit, Returns to NY Office
---------------------------------------------------------------
According to The Wall Street Journal's Alison Tudor, a person
familiar with the matter said Sunday, Douglas Peterson, who heads
Citigroup Inc.'s operations in Japan, is returning to New York
after overseeing the swift sale of assets in Japan to help Citi
repay the U.S. government for its bailout loan.

The report says Mr. Peterson will be succeeded by Darren Buckley,
head of Citibank Japan Ltd.

Based in New York, Citigroup Inc. (NYSE: C) -- is a global
diversified financial services holding company whose businesses
provide a broad range of financial services to consumer and
corporate customers.  Citigroup has roughly 200 million customer
accounts and does business in more than 140 countries.
Citigroup's businesses are aligned in three reporting segments:
(i) Citicorp, which consists of Regional Consumer Banking (in
North America, EMEA, Asia, and Latin America) and the
Institutional Clients Group (Securities and Banking, including the
Private Bank, and Transaction Services); (ii) Citi Holdings, which
consists of Brokerage and Asset Management, Local Consumer
Lending, and a Special Asset Pool; and (iii) Corporate/Other.

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

Citigroup, the third-biggest U.S. bank, received $45 billion in
bailout aid.  Other bailed-out banks, including Bank of America
Corp., Wells Fargo & Co., have pledged to repay TARP money.
JPMorgan Chase & Co., Goldman Sachs Group Inc. and Morgan Stanley,
repaid TARP funds in June.  Citigroup is selling assets to repay
the bailout funds.

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


CNS RESPONSE: Auditor Raises Going Concern Doubt
------------------------------------------------
Santa Ana, Calif.-based Cacciamatta Accountancy Corporation's
audit report of CNS Response, Inc. and its subsidiaries' annual
report of the Company's consolidated financial statements as of
and for the years ended September 30, 2009, and 2008, contains an
explanatory paragraph stating that the Company's continued
operating losses and limited capital raise substantial doubt about
its ability to continue as a going concern.

The Company reported a net loss of $8,522,200 on revenues of
$700,100 for the year ended September 30, 2009, as compared to a
net loss of $5,371,500 on revenues of 773,500 for the prior fiscla
year.

During the fiscal year 2009, the Company conducted a goodwill
impairment test and determined that all of the goodwill related to
the Neuro-Therapy Clinic, Inc. acquisition was impaired.
Accordingly, the Company recorded a goodwill impairment charge of
$320,200 for the year ended September 30, 2009.

With respect to the Company's Response's Laboratory Information
Services business, CNS incurred a $90,000 financing fee in
connection with the bridge note issued to Mr. John Pappajohn on
June 12, 2009, and $20,900 in interest expenses on the bridge
notes issued to Mr. Leonard J. Brandt and Sail Venture Partners.
Additionally, $1,058,000 of expenses associated with the valuation
of bridge warrants and $642,000 associated with the value of the
beneficial conversion feature of the bridge notes were written off
to interest expense upon conversion of the bridge notes.
Furthermore, $13,300 of interest expense was incurred on long-term
debt issued in connection with the Company's acquisition of NTC.
These expenses were offset by interest income of $9,500 for the
fiscal year ended September 30, 2009, from interest bearing
accounts.  For the fiscal year ended September 30, 2008, interest
income of $127,000 was earned on cash in interest bearing
accounts.  This was offset by $22,000 of interest expense on long
term debt.

                          Balance Sheet

At September 30, 2009, the Company's consolidated balance sheets
showed $1,160,900 in total assets and $2,271,000 in total
liabilities, resulting in a $1,110,100 shareholders' deficit.

The Company's consolidated balance sheets at September 30, 2009,
also showed strained liquidity with $1,139,300 in total current
assets available to pay $2,240,600 in total current liabilities.

A full-text copy of the Company's Form 10-K is available at no
charge at http://researcharchives.com/t/s?4d35

                        About CNS Response

Based in Costa Mesa, Calif., CNS Response, Inc. (OTCBB: CNSO) --
http:www.cnsresponse.com/ -- is a life sciences company with two
distinct business segments.  The Laboratory Information Services
business operated by CNS California, which the Company considers
its primary business, is focused on the research, development, and
commercialization of a patented system that guides psychiatrists
and other physicians/prescribers to determine a proper treatment
for patients with behavioral (psychiatric and/or addictive)
disorders.  The Clinical Services business operated by
Neuro-Therapy Clinic, Inc., is a full service psychiatric clinic.


COHARIE HOG: Court to Consider Continued Cash Collateral Use Today
------------------------------------------------------------------
The Hon. J. Rich Leonard of the U.S. Bankruptcy Court for the
Eastern District of North Carolina will consider on January 12,
2010, at 1:00 p.m., Coharie Hog Farms, Inc.'s access to Cape Fear
Farm Credit, ACA cash collateral.

The Court earlier approved, on a third interim basis, the Debtor's
use of cash collateral until January 15, 2010.

As of the petition date, the Debtor owed CFFC:

   -- $24,672,788 pursuant to the Revolving Line of Credit Note;

   -- $10,675,540 and accrued interest of $78,009 pursuant to the
      Term Loan Note; and

   -- $1,342,862 pursuant to the Term Loan Two.

The Debtor would use the cash collateral to fund its daily
operations.

As adequate protection, CFFC is granted a replacement lien on all
present and after-acquired personal and real property the Debtor.
CFFC will also have an administrative expense claim with priority
over all other administrative claims.

CFFC's consent to the Debtor's use of cash collateral will
terminate upon the earliest to occur of (i) the Termination Date
or (ii) upon the occurrence of an Event of Default.

                    About Coharie Hog Farm

Clinton, North Carolina based Coharie Hog Farm, Inc., says it has
been one of the largest swine producers in the U.S., supplying
more than 500,000 hogs a year to a plant operated by Smithfield
Foods Inc.  It produced more than 140 million pounds of pork
annually.  The closely held operation has six storage facilities
with 3.9 million bushels of capacity.  The business used more than
100 contract farmers to raise hogs for market.  Anne Faircloth
owns 75% of the Company and Nelson Waters owns the remaining
quarter.

Coharie Hog Farm filed for Chapter 11 on Nov. 6, 2009 (Bankr. E.D.
N.C. Case No. 09-09737).  Terri L. Gardner, Esq., at Nelson
Mullins Riley & Scarborough, LLP, represents the Debtor in its
Chapter 11 effort.  The petition says assets and debts range from
$10,000,001 to $50,000,000.


COMMERCIAL CAPITAL: Ch. 11 Trustee Taps Markus Williams as Counsel
------------------------------------------------------------------
James T. Markus, the duly appointed Chapter 11 trustee in the
Chapter 11 cases of Commercial Capital, Inc., and CCI Funding I,
LLC, asks the U.S. Bankruptcy Court for the District of Colorado
for permission to employ Markus Williams Young & Zimmermann, LLC
as counsel.

The firm will, among other things:

   -- prepare on behalf of the trustee any necessary motions,
      applications, answers, orders, reports and papers as
      required by applicable bankruptcy and non-bankruptcy law,
      and represent the trustee in proceedings or hearing related
      thereto;

   -- assist the trustee in analyzing and pursuing any proposals
      by third parties to acquire the assets of the Debtor's
      estate; and

   -- review, analyze and advise the trustee regarding claims or
      causes of actions to pursued on behalf of the estate.

John F. Young, a member of the firm, tells the Court that the firm
has not received a retainer in this case.

The hourly rates of the firm's personnel are:

     Mr. Young                       $365
     Gregory L. Williams             $365
     Steven R. Rider                 $325
     Donald D. Allen                 $295
     Thomas H. Keyse                 $295
     Jeffrey O. McAnallen            $280
     Jennifer Salisbury              $265
     Annie-Caitlin Howe              $150
     Attorneys                    $150 - $365
     Brad Hammond                     $85
     Connie Windholz                  $85
     Paralegals                      $100

Mr. Young assures the Court that the firm is a "disinterested
person" as that term is defined in Section 101(14) of the
Bankruptcy Code.

Mr. Young can be reached at:

     Markus Williams Young & Zimmermann, LLC
     Colorado Office
     1700 Lincoln, Suite 4000
     Denver, CO 80203
     Tel: (303) 830-0800
     Fax: (303) 830-0809

Greenwood Village, Colorado-based Commercial Capital, Inc. --
http://www.commercialcapitalinc.com/-- and its affiliate, CCI
Funding I, LLC, are commercial real estate lenders and investment
partners engaging in short-term commercial mortgage.  Commercial
Capital and CCI Funding filed separate petitions for Chapter 11 on
April 22, 2009, and April 24, 2009, respectively (Bankr. D. Colo.
Lead Case No. 09-17238).  Robert Padjen, Esq., at Laufer and
Padjen LLC, assists Commercial Capital in its restructuring
efforts.  In its  bankruptcy petition, Commercial Capital listed
between $100 million and $500 million in assets, and between
$50 million and $100 million in debts.  CCI Funding listed between
$100 million and $500 million each in assets and debts.


CORBIN PARK: Status Hearing Set for January 22
----------------------------------------------
A status hearing on Corbin Park LLP's Chapter 11 case is scheduled
for January 22, 2010.

Based in Kansas City, Corbin Park LLP is a real estate developer.

According to Rob Roberts at Kansas City Journal, the Company said
it tried to raise $25 million to prevent a loss of about
$60 million in equity invested in Corbin Park regional mall
project in Overland Park.  The Company refused to discuss the
financial problems that stopped the project but detail begun to
emerge as contractors holding $20 million of liens against the
project began to press foreclosure cases.

Corbin Park, L.P., filed for Chapter 11 on Jan. 5, 2010 (Bankr. D.
Kan. Case No. 10-20014).  Carl R. Clark, Esq., at Lentz Clark
Deines PA, represents the Debtor in its restructuring effort.  The
petition says that assets range from $50,000,001 to $100,000,000
while debts range from $10,000,001 to $50,000,000.


CORD BLOOD: Compensatory Arrangement of Certain Officers
--------------------------------------------------------
Cord Blood America Inc. said in a regulatory filing with the
Securities and Exchange Commission that its board of directors
acted to:

   * compensate key executive officers of the Company for past
     services completed by the issuance of stock options to
     acquire its common stock; and

   * provide incentive compensation to the Company's key officers
     for 2010 by the issuance of unvested stock options to acquire
     the Company's common stock which vest on Dec. 31, 2010.

These options granted are vested immediately, have a 10-year term,
or until Dec. 31, 2019, and are exercisable at an exercise price
of $0.0114 per share, which was the closing stock bid price for
the Company's common stock on Dec. 31, 2009.

These Options were granted for past services to the following key
officers as bonus compensation for the periods indicated on
Dec. 31, 2009:

Recipient            Period of Service    Options Granted
---------            -----------------    ---------------
Matthew Schissler          2009             121,464,500
Joseph Vicente             2009             60,732,250

In addition, these incentive options were issued to these key
officers:

Recipient               Vesting Date      Options Granted
---------            -----------------    ---------------
Matthew Schissler       Dec. 31, 2010       121,464,500
Joseph Vicente          Dec. 31, 2010       60,732,250

The value of the options so issued cannot be calculated as of this
date, since they have been issued at the closing bid price of the
registrant's common stock on the date of grant, December 31, 2009,
and will not vest until Dec. 31, 2010.

                           Going Concern

CBAI, in its financial report on Form 10-Q for the quarter ended
September 30, 2009, filed with the Securities and Exchange
Commission, said it has experienced recurring net losses from
operations, which losses have caused an accumulated deficit of
roughly $30.9 million as of September 30, 2009.  In addition, CBAI
has a working capital deficit of roughly $5.3 million as of
September 30, 2009.  These factors, among others, raise
substantial doubt about CBAI's ability to continue as a going
concern.

At September 30, 2009, CBAI had $4.2 million in total assets
against $5.5 million in total liabilities, resulting in
$1.2 million in stockholders' deficit.  At September 30, 2009,
CBAI had $158,164 in cash.

                    About Cord Blood America

Based in Las Vegas, Nevada, Cord Blood America, Inc., is primarily
a holding company whose subsidiaries include Cord Partners, Inc.,
CorCell Co. Inc., CorCell Ltd.; CBA Professional Services, Inc.
D/B/A BodyCells, Inc.; CBA Properties, Inc.; and Career Channel
Inc, D/B/A Rainmakers International.  Cord specializes in
providing private cord blood stem cell preservation services to
families.  BodyCells is a developmental stage company and intends
to be in the business of collecting, processing and preserving
peripheral blood and adipose tissue stem cells allowing
individuals to privately preserve their stem cells for potential
future use in stem cell therapy.  Properties was formed to hold
the corporate trademarks and other intellectual property of CBAI.
Rain specializes in creating direct response television and radio
advertising campaigns, including media placement and commercial
production.


CROWN CASTLE: S&P Downgrades Rating on Unsecured Debt to 'B'
------------------------------------------------------------
Standard & Poor's Ratings Services said it lowered the rating on
the unsecured debt at Houston-based wireless tower operator Crown
Castle International Corp. to 'B' from 'B+'.  The rating remains
on CreditWatch, where it had been placed with negative
implications on Dec. 23, 2009, following the company's
announcement that it had secured commitments for a revolving
credit for up to $400 million to replace the $188 million revolver
expiring in January 2010.  In addition, S&P revised the recovery
rating on this debt to '5' from '4', indicating modest (10%-30%)
rather than average (30%-50%) recovery prospects in the event of a
payment default.

These actions follow the company's completion of this transaction,
and announced $1.9 billion proposed new tower revenue notes to
refinance the $1.7 billion of outstanding tower revenue debt with
a 2010 anticipated repayment date.  The downgrade reflects the
higher concentration of priority debt with the upsized revolving
credit, which reduces recovery prospects for the unsecured debt at
Crown.  Moreover, given the additional priority claims resulting
from the $1.9 billion proposed new issuance, when this transaction
closes, which is currently expected to be on Jan. 15, 2010, S&P
will further lower the rating on the unsecured debt at Crown to
'B-' from 'B', and revise the recovery rating to '6', reflecting
negligible (0%-10%) recovery prospects in the event of a payment
default.  S&P will remove the issue rating from CreditWatch at
that time.

Crown's 'B+' corporate credit rating and all other issue ratings
for Crown and its related entities remain unchanged, and are not
on CreditWatch.  Crown benefits from the fact that the proposed
debt issue addresses S&P's near-term concerns about its
$1.7 billion of tower revenue notes, which have an anticipated
repayment date of June 2010.  While the net incremental debt from
this transaction, coupled with $500 million of notes issued in the
fourth quarter of 2009, increases consolidated leverage to
approximately 9.0x from the current 8.4x, it also provides the
company additional cash cushion to meet debt maturities, including
the anticipated repayment date in November 2011 for $1.55 billion
of tower revenue notes.  The outlook is stable.

                  Crown Castle International Corp.

            Corporate Credit Rating       B+/Stable/--

   Downgraded; Remaining On CreditWatch; Recovery Rating Revised

                                 To                 From
                                 --                 ----
   Senior Unsecured              B/Watch Neg        B+/Watch Neg
    Recovery Rating              5                  4


DECODE GENETICS: Finds Factors Impacting Heart Acts Measurements
----------------------------------------------------------------
Novel SNPs Modulate ECG Measurements Including Heart Rate, Two are
Also Risk Factors for Atrial Fibrillation and Will be Integrated
Into deCODE AF(TM) Test

Scientists at deCODE genetics today report the discovery of seven
novel and common single-letter variations in the sequence of the
human genome (SNPs) that are involved in modulating the electrical
impulses that govern the working of the heart.  Two of these SNPs,
which correlate with electrocardiogram measurements that are used
in the clinical evaluation of heart health and activity, were then
shown to confer increased risk of atrial fibrillation, one of the
most common causes of irregular heartbeat and a leading cause of
stroke.  The paper, "Several common variants modulate heart rate,
PR interval and QRS duration," is published online in Nature
Genetics at http://www.nature.com/ng,and will appear in an
upcoming print addition of the journal.

The deCODE team began by correlating ECG measurements with genome-
wide SNP data from more than 40,000 Icelandic participants in its
gene discovery program.  This search identified one novel SNP
influencing heart rate and four each linked to PR interval and QRS
duration, measurements of how quickly the electrical impulses that
cause the heart muscles to pump achieve their purpose.

Intriguingly, SNPs on chromosome 3 linked to both longer PR
interval and QRS duration are in the gene encoding SCN10A, a
sodium channel that has never before been linked to heart
activity.  Individuals with the same variants were also more
likely to have been fitted with a pacemaker.  A follow-on analysis
of all of the novel SNPs in Icelandic and Norwegian heart patients
and controls demonstrated the association of two of the SNPs
linked to PR interval to risk of AF, and another SNP to increased
risk of advanced atrioventricular block.  Two other papers
published today in the same journal provide further validation of
some of the deCODE findings.

"Over the past two years, we have discovered major genetic risk
factors for heart disease and stroke and introduced tests for
these risk factors into clinical practice.  We are building the
power of these tests through our ongoing discovery work, and
today's findings demonstrate again the fruitfulness of using
intermediate risk factors and clinical measurements as entry
points for finding risk factors for disease.  Our population
resources enable us to do so efficiently and with exciting
results.  These latest findings will be incorporated into our
deCODE AF test and deCODEme scans, and certain of these
discoveries may also provide opportunities for outlicensing for
therapeutic development," said Kari Stefansson, CEO of deCODE.

                      About decode Genetics

deCODE Genetics Inc. is a global leader in analyzing and
understanding the human genome.  deCODE has identified key
variations in the sequence of the genome conferring increased risk
of major public health challenges from cardiovascular disease to
cancer, and employs its gene discovery engine to develop DNA-based
tests to assess individual risk of common diseases; to license its
tests and intellectual property to partners; and to provide
comprehensive, leading- edge contract services to companies and
research institutions around the globe.  The Company was founded
in 1996 and is headquartered in Reykjavik, Iceland.

deCODE's balance sheet at June 30, 2009, showed total assets of
$69.85 million and total liabilities of $313.92 million,
resulting in a stockholders' deficit of $244.07 million.

The Company filed for Chapter 11 on November 16, 2009 (Bankr. D.
Del. Case No. 09-14063).  The petition listed assets of
$69.9 million against debt of $314 million.  Liabilities
include $230 million on 3.5% senior convertible notes.


DELPHI CORP: Magna to Buy Fuel Tank Unit
----------------------------------------
In a public statement dated January 7, 2010, General Motors
Company said that it will sell Nexteer Automotive business
immediately.  GM explained that it seeks to realign Nexteer as a
wholly independent entity, thus positioning Nexteer's business
for growth among a wide range of global OEM customers.

To recall, GM Global Steering Holdings LLC acquired Delphi
Corp.'s Global Steering business, now known as Nexteer, in
October 2009.  Nexteer employs 6,200 workers and owns 15
manufacturing plants in North and South America, Europe and Asia,
Reuters noted.

In other news, Magna International Inc. is seeking antitrust
clearance to acquire Delphi Automotive LLP's fuel-tank system
division, Bloomberg News reported, citing a posting from German
Federal Cartel office's web site.

                         About Delphi Corp

Based in Troy, Michigan, Delphi Corporation (PINKSHEETS: DPHIQ)
-- http://www.delphi.com/-- was a global supplier of mobile
electronics and transportation systems, including powertrain,
safety, steering, thermal, and controls & security systems,
electrical/electronic architecture, and in-car entertainment
technologies.  Delphi had approximately 146,600 employees and
operates 150 wholly owned manufacturing sites in 34 countries with
sales of $18.1 billion in 2008.

The Company filed for Chapter 11 protection on October 8, 2005
(Bankr. S.D.N.Y. Lead Case No. 05-44481).  John Wm. Butler Jr.,
Esq., John K. Lyons, Esq., and Ron E. Meisler, Esq., at Skadden,
Arps, Slate, Meagher & Flom LLP, represent the Debtors in their
restructuring efforts.  Robert J. Rosenberg, Esq., Mitchell A.
Seider, Esq., and Mark A. Broude, Esq., at Latham & Watkins LLP,
represent the Official Committee of Unsecured Creditors.  As of
June 30, 2008, the Debtors' balance sheet showed US$9,162,000,000
in total assets and US$23,742,000,000 in total debts.

The Court confirmed Delphi's plan on January 25, 2008.  The Plan
was not consummated after a group led by Appaloosa Management,
L.P., backed out from their proposal to provide US$2,550,000,000
in equity financing to Delphi.  At the end of July 2009, Delphi
obtained confirmation of a revised plan, build upon a sale of the
assets to a entity formed by some of the lenders who provided
$4 billion of debtor-in-possession financing, and General Motors
Company.

On October 6, 2009, Delphi Corp.'s Chapter 11 plan of
reorganization became effective.  A Master Disposition Agreement
executed among Delphi Corporation, Motors Liquidation Company,
General Motors Company, GM Components Holdings LLC, and DIP Holdco
3, LLC, divides Delphi's business among three separate parties --
DPH Holdings LLC, GM Components, and DIP Holdco 3.

Delphi emerged from Chapter 11 as DPH Holdings.  DPH Holdings will
remain responsible for the post-Effective Date administration and
eventual closing of the Chapter 11 cases as well as the
disposition of certain retained assets and payment of certain
retained liabilities as provided under the Modified Plan.

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


DELPHI CORP: Michigan SISF Appeals Claim Denial
-----------------------------------------------
By this motion, the Michigan's Self-Insurers' Security Fund sought
the Bankruptcy Court's permission to file Claim Nos. 19501 and
19502 under Rule 9006(b) of the Federal Rules of Bankruptcy
Procedure.

The SISF noted that Delphi Corp.'s Modified First Amended Joint
Plan of Reorganization completely changed the definition of Flow-
Through Claims to the detriment of the Debtors' employees and the
SISF.  Dennis J. Raterink, Esq., Attorney General, in Lansing,
Michigan, pointed out that the positive treatment of workers'
compensation claims was removed under the Modified Plan.
Moreover, the Modified Plan created new opportunities for holders
of some "employee-related obligations" the ability to file claims
after the effective date of the Modified Plan, but did not allow
the same recourses to its injured workers, he says.

Judge Drain, however, denied the Michigan SISF's request.

Judge Drain held that the Michigan SISF was properly and timely
served with the Bar Date Notice.  Moreover, for reasons stated by
the Court at the hearing, Judge Drain held that Michigan SISF has
failed to establish excusable neglect to justify its failure to
timely file proofs of Claim Nos. 19501, 19502, 19541, and 19542.

The Claims are thus disallowed and expunged, and no distribution
will be made on account of the Claims from the Debtors' estates
or by the Reorganized Debtors.

             Michigan SISF Appeals Court Decision

Subsequently, Michigan SISF took an appeal to the United States
District Court for the Southern District of New York from Judge
Drain's order denying the Michigan SISF's Motion to File Late
Claims entered on December 23, 2009.

Specifically, the Michigan SISF wants the District Court to
review whether the Bankruptcy Court commit reversible error in:

  -- concluding that the doctrine of "excusable neglect" under
     Rule 9006(b) of the Federal Rules of Bankruptcy Procedure
     did not apply to the Michigan SISF's failure to file a
     timely proof of claim;

  -- concluding that the fact that the Michigan SISF made an
     erroneous determination that it did not possess a claim did
     not warrant a finding of "excusable neglect," simply
     because the reason for the delay was "within the reasonable
     control" of the Michigan SISF; and

  -- determining that allowing the Michigan SISF's late claim
     would create prejudice to the Debtors, when the only
     prejudice demonstrated by the Debtors was prejudice to
     other creditors.

                         About Delphi Corp

Based in Troy, Michigan, Delphi Corporation (PINKSHEETS: DPHIQ)
-- http://www.delphi.com/-- was a global supplier of mobile
electronics and transportation systems, including powertrain,
safety, steering, thermal, and controls & security systems,
electrical/electronic architecture, and in-car entertainment
technologies.  Delphi had approximately 146,600 employees and
operates 150 wholly owned manufacturing sites in 34 countries with
sales of $18.1 billion in 2008.

The Company filed for Chapter 11 protection on October 8, 2005
(Bankr. S.D.N.Y. Lead Case No. 05-44481).  John Wm. Butler Jr.,
Esq., John K. Lyons, Esq., and Ron E. Meisler, Esq., at Skadden,
Arps, Slate, Meagher & Flom LLP, represent the Debtors in their
restructuring efforts.  Robert J. Rosenberg, Esq., Mitchell A.
Seider, Esq., and Mark A. Broude, Esq., at Latham & Watkins LLP,
represent the Official Committee of Unsecured Creditors.  As of
June 30, 2008, the Debtors' balance sheet showed US$9,162,000,000
in total assets and US$23,742,000,000 in total debts.

The Court confirmed Delphi's plan on January 25, 2008.  The Plan
was not consummated after a group led by Appaloosa Management,
L.P., backed out from their proposal to provide US$2,550,000,000
in equity financing to Delphi.  At the end of July 2009, Delphi
obtained confirmation of a revised plan, build upon a sale of the
assets to a entity formed by some of the lenders who provided
$4 billion of debtor-in-possession financing, and General Motors
Company.

On October 6, 2009, Delphi Corp.'s Chapter 11 plan of
reorganization became effective.  A Master Disposition Agreement
executed among Delphi Corporation, Motors Liquidation Company,
General Motors Company, GM Components Holdings LLC, and DIP Holdco
3, LLC, divides Delphi's business among three separate parties --
DPH Holdings LLC, GM Components, and DIP Holdco 3.

Delphi emerged from Chapter 11 as DPH Holdings.  DPH Holdings will
remain responsible for the post-Effective Date administration and
eventual closing of the Chapter 11 cases as well as the
disposition of certain retained assets and payment of certain
retained liabilities as provided under the Modified Plan.

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


DHILLON PROPERTIES: Sec. 341 Creditors Meeting Set for Feb. 1
-------------------------------------------------------------
The U.S. Trustee for Region 17 will convene a meeting of Dhillon
Properties LLC's creditors on February 1, 2010, at 2:00 p.m. at
300 Booth Street, Room 2110, Reno, NV 89509.

This is the first meeting of creditors required under Section
341(a) of the U.S. Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
Meeting of Creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

Elko, Nevada-based Dhillon Properties LLC, dba Holiday Inn
Express, filed for Chapter 11 bankruptcy on Dec. 31, 2009 (Bankr.
D. Nev. Case No. 09-54640).  A.J. Kung, Esq., who has an office in
Las Vegas, Nevada, assists the Company in its restructuring
effort.  In its petition, the Company said it has assets of
$13,217,541, and total debts of $9,260,886.


EDISON FUNDING: Moody's Withdraws 'Ba3' Rating on Senior Debt
-------------------------------------------------------------
Moody's Investors Service has withdrawn the Ba3 rating on Edison
Funding Company's senior unsecured debt following the repayment in
full of principal and interest owed to bondholders.

We understand that bondholders accelerated amounts due from EFC
under the sterling note indenture based upon an unremedied
financial covenant violation that resulted from EFC recording a
substanial write-off in the second quarter 2009 relating to a tax
settlement reached by the IRS and parent Edison International for
certain cross border leases.  Following yesterday's prinicpal and
interest repayment, Moody's understands that EFC has no remaining
third party debt outstanding.

The last rating action at EFC occurred on June 30, 2009 when the
senior unsecured notes of EFC were downgraded to Ba3 from Ba1.

EFC's ratings were assigned by evaluating factors believed to be
relevant to its credit profile, such as i) the business risk and
competitive position of EFC versus others within its industry or
sector, ii) the capital structure and financial risk of EFC, iii)
the projected performance of EFC over the near to intermediate
term, and iv) EFC history of achieving consistent operating
performance and meeting financial plan goals.  These attributes
were compared against other issuers both within and outside of
EFC's core peer group and EFC's ratings are believed to be
comparable to ratings assigned to other issuers of similar credit
risk.

Outlook Actions:

Issuer: Edison Funding Company

  -- Outlook, Changed To Rating Withdrawn From Stable

Withdrawals:

Issuer: Edison Funding Company

  -- Senior Unsecured Regular Bond/Debenture, Withdrawn,
      previously rated Ba3

Headquartered in Irvine, California, EFC is a wholly-owned
subsidiary of Edison Capital.  Both EFC and Edison Capital are
wholly-owned subsidiaries of Edison Mission Group, which in turn,
is a wholly-owned subsidiary of EIX.


EMERSON OVERLOOK: Sec. 341 Creditors Meeting Set for Feb. 11
------------------------------------------------------------
The U.S. Trustee for Region 21 will convene a meeting of Emerson
Overlook, LLC's creditors on February 11, 2010, at 10:00 a.m. at
Third Floor - Room 363, Richard B. Russell Bldg., 75 Spring
Street, SW, Atlanta, GA 30303.

This is the first meeting of creditors required under Section
341(a) of the U.S. Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
Meeting of Creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

Marietta, Georgia-based Emerson Overlook, LLC, filed for Chapter
11 bankruptcy protection on January 4, 2010 (Bankr. N.D. Ga. Case
No. 10-60282).  Todd E. Hennings, Esq., and William A. Rountree,
Esq., at Macey, Wilensky, Kessler & Hennings LLC, assist the
Company in its restructuring effort.  The Company listed
$10,000,001 to $50,000,000 in assets and $10,000,001 to
$50,000,000 in liabilities.


ENERGY FUTURE: $500 Mil. Notes Issue Won't Affect Moody's Ratings
-----------------------------------------------------------------
Moody's Investors Service said that Energy Future Holdings Corp's
(Caa1 Corporate Family Rating / negative rating outlook)
$500 million issuance of 10% senior secured notes, due January
2020, has no credit implications at this time.

Proceeds, which initially bolster liquidity, are expected to be
used for general corporate purposes, but could also eventually be
used to repurchase debt, presumably at a steep discount to par
value.  Moody's incorporate a view that EFH will target its
existing EFH senior unsecured (guaranteed) LBO notes (Caa3 senior
unsecured - guaranteed) and its existing legacy TXU senior
unsecured notes (Caa3 senior unsecured).  These securities were
the primary securities targeted in EFH's recent exchange
transaction which launched in October and closed in November 2009.

"The additional debt does not have a meaningful impact on EFH's
overall credit quality" said Jim Hempstead, Senior Vice President
"but it does incrementally bolster cash reserves, at least
temporarily.  The fundamental credit issue with EFH continues to
relate to its untenable capital structure, which calls into
question the sustainability of the business model."

EFH's Caa1 Corporate Family Rating and negative rating outlook
primarily reflect Moody's concerns with the company's total debt
outstanding (approximately $43 billion) in relation to its ability
to generate cash flow over a sustainable period of time.  For the
twelve months ended September 2009, the ratio of EFH's
consolidated cash flow from operations, CFO before changes in
working capital (CFO pre-w/c) and funds from operations to total
debt outstanding was approximately 5%, 2.5% and 2%, respectively.
In Moody's opinion, these credit metrics indicate that EFH has
very little financial flexibility.  Excluding the contributions of
EFH's rate regulated electric transmission and distribution
business, Oncor Electric Delivery Company LLC (Baa1 senior secured
/ stable outlook), the adjusted ratio of EFH's CFO, CFO pre-w/c
and FFO to debt would fall to 3%, 0% and 0%, respectively.

Approximately $20 billion of EFH's total consolidated debt is
scheduled to mature in 2014.  The magnitude of this refinancing
risk represents a significant credit and liquidity issue at this
time, primarily due to Moody's views of the current state of the
bank credit markets.  While Moody's incorporate a view that bank
credit capacity is readily available (albeit at a higher cost) for
most regulated utility operations (a positive for Oncor, whose
$2.0 billion senior secured credit facility expires in October
2013), it is unclear if capacity will be available for an entity
as highly levered as EFH.  Nevertheless, as of September 2009, EFH
held roughly $0.9 billion in cash, while its principal subsidiary,
Texas Competitive Electric Holdings (B1 senior secured / negative
outlook), held roughly $0.8 billion.  TCEH also had roughly
$1.7 billion available under its $2.7 billion senior secured
credit facility, scheduled to expire in October 2013.

From an operational perspective EFH, through TCEH, owns and
operates approximately 18,000 MW's of generation capacity the vast
majority of which is located in the north ERCOT market in Northern
Texas.  Approximately 10,000 MW's represent base-load coal and
nuclear generation, a significant benefit to the credit from a
collateral perspective, given the market position and critical
nature of these assets to the region's infrastructure and economy.
The vast majority of EFH's cash flows are associated with the
generation and sale of electricity through TCEH's generation
assets.  Consequently, as market conditions improve, evidenced by
rising market heat rates, TCEH's credit profile should also
stabilize and possibly improve.  However, Moody's remain concerned
that the sheer size of EFH's debt load will continue to weigh on
the company over the next few years, which keeps the liquidity
issue as a high priority.

The new senior secured notes are primarily viewed as senior
unsecured obligations of TCEH, due to Oncor's ring-fence type
provisions.  The notes are secured by the stock of EFH's
intermediate subsidiary holding companies, Energy Future
Intermediate Holdings (Caa3 senior secured notes / negative
outlook) and Energy Future Competitive Holdings (Caa3 senior
unsecured / negative outlook).  The EFIH guarantee is secured by
the stock of Oncor Electric Delivery Holdings Co. LLC.  Oncor
Holdings owns approximately 80% of Oncor, the regulated T&D
utility operations.  The EFCH guarantee is unsecured.  EFH's
indenture associated with the new senior secured notes provides
flexibility to transfer such notes to EFIH, should Oncor be
divested in some fashion and if certain conditions are met.  This
flexibility, given EFH's overall credit profile, represents an
increase in potential event risk for Oncor, but is not sufficient
to warrant a change in Oncor's ratings at this time.

"Management has confirmed that it has no current plans to divest
Oncor before the original 5-year holding period expires" added
Hempstead.

EFH is expected to file its 2009 SEC Form 10-K on February 19,
2010.

EFH's CFR is Caa1.  EFH is a merchant generator head-quartered in
Dallas, Texas.

Moody's last rating action for EFH occurred on November 16, 2009,
when EFH's Probability of Default Rating (PDR) was upgraded to
Caa2 from Ca.


ERICKSON RETIREMENT: NSC NFPs Object to Committee Discovery
-----------------------------------------------------------
Pursuant to Rule 2004 of the Federal Rules of Bankruptcy
Procedure, the Official Committee of Unsecured Creditors asks the
Court to direct National Senior Campuses, Inc., and the not-for-
profit entities Riderwood Village, Inc., Brooksby Village, Inc.,
Seabrook Village, Inc., Cedar Crest Village, Inc., Ann's Choice,
Inc., Fox Run Village, Inc., Highland Springs Inc., Wind Crest,
Inc., Oak Crest Village, Inc., Greenspring Village, Inc., Maris
Grove, Inc., Ashby Ponds, Inc., Eagle's Trace, Inc., Hickory
Chase, Inc., and Tallgrass Creek, Inc.'s directors to:

  (a) appear for examinations no later than January 31, 2010;
      and

  (b) produce documents in connection with the examinations on a
      rolling basis, no later than January 9, 2010.

The directors include Ronald E. Walker, James M. Anders, Harold
Ashby, Willow Pasley, Lawrence D. Shubnell, Rod Coe, Jim Hayes
Meryle Twersky, and Scott K. Phillips, as consultant to the
directors.

                        NSC NFPs Object

On behalf of National Senior Campuses, Inc. and Not-for-Profit
entities Riderwood Village, Inc., Brooksby Village, Inc., Seabrook
Village, Inc., Cedar Crest Village, Inc., Ann's Choice, Inc., Fox
Run Village, Inc., Highland Springs Inc., Wind Crest, Inc., Oak
Crest Village, Inc., Greenspring Village, Inc., Maris Grove, Inc.,
Ashby Ponds, Inc., Eagle's Trace, Inc., Hickory Chase, Inc., and
Tallgrass Creek, Inc., Martin Fletcher, Esq., at Whiteford Taylor
Preston LLP, in Baltimore, Maryland, informed the Court that the
NSC NFPs held a board meeting on December 18, 2009, to determine
if the two entities that submitted timely bids were appropriate
potential new managers with whom the NSC NFPs could enter into new
long-term management agreements after the expiration of existing
agreements with the Debtors.  Mr. Fletcher notes that for most of
the NSC NFPs' directors, the December 18 meeting was the first
time they met the principals of the bidders and their management
teams.  The NSC NFP boards agreed to invite the bidders to attend
their board meeting, so that the bidders could explain why they
were appropriately experienced to undertake the daily management
of care for over 20,000 seniors.

Similarly, Mr. Fletcher clarified that at a December 18, 2009,
hearing, counsel for the NSC NFPs confirmed on the record that
they were not revoking their conditional consent to the stalking
horse bid.  The NSC NFPs' counsel further confirmed on the record
that the NSC NFPs applied evenly to any bidder or prospective new
manager.

Against this backdrop, Mr. Fletcher insists that the Official
Committee of Unsecured Creditors' Rule 2004 Exam Motion is based
on erroneous factual predicates.  He further argues that the
Committee's request to examine eight directors of the NSC NFPs is
duplicative and wasteful.  He adds that the Committee has also
sought production of mountains of documents on an expedited
basis, without providing a rationale for that massive scope of
requests.  The NSC NFPs thus ask the Court to deny the
Committee's Rule 2004 Motion or limit its scope.

At the Committee's request, the Court scheduled a hearing to
consider the Committee's Rule 2004 Motion on an expedited basis
on January 6, 2010.

                     About Erickson Retirement

The Baltimore, Maryland-based Erickson Retirement Communities LLC
owns 20 continuing care retirement communities in 11 states.
Among Erickson's 20 communities, eight are completed, 11 are open
although in construction, and one is in development.  They have
23,000 residents in total.

Erickson, along with affiliates, filed for Chapter 11 on
October 19, 2009 (Bankr. N.D. Tex. Case No. 09-37010).  DLA Piper
LLP (US) serves as counsel to the Debtors.  BMC Group Inc. serves
as claims and notice agent.  Houlihan, Lokey, Howard & Zoukin,
Inc., is also serving as investment and financial consultant.
Alvarez & Marsal is serving as restructuring adviser.

As of September 30, 2009, on a book value basis, ERC had
approximately $2.7 billion in assets, including $2.2 billion of
property and equipment, and $3.0 billion in liabilities.
Liabilities include $195.8 million on the revolving credit,
$347.5 million on construction credit, $64 million in accounts
payable, $47.8 million in subordinate debt, and $475 million in
purchase option deposits.

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


ESCADA AG: Court OKs Sale of U.S. Unit's Assets to HSBC Trustee
---------------------------------------------------------------
Judge Arthur J. Gonzales of the United States Bankruptcy Court
for the Southern District of New York approved on January 7,
2010, the sale of substantially all of the assets of Escada
(USA), Inc., to Escada US Subco LLC, as purchaser, pursuant to an
Asset Purchase and Sale Agreement between the parties dated as of
December 21, 2009.

A full-text copy of the Escada Asset Sale Agreement is available
for free at http://bankrupt.com/misc/EscadaSaleAgreement.pdf

Escada US Subco is a Delaware limited liability company formed by
HSBC Trustee Limited to acquire Escada USA's assets.  Under the
Asset Sale Agreement, Escada USA is contemplated to (i) receive
US$6 million, (ii) have certain of its liabilities assumed by the
Purchaser; and iii) receive reimbursement for new inventory it
purchased from and after the execution of the Agreement.

"The Agreement was negotiated, proposed and entered into by the
Debtor and the Purchaser without collusion, in good faith, from
arm's-length bargaining positions with the parties represented by
independent counsel and with significant involvement from the
Official Committee of Unsecured Creditors.  Neither the Debtor
nor the Purchaser . . . has engaged in any conduct that would
cause or permit the Agreement or the Sale to be avoided under
Section 363(n) of the Bankruptcy Code," Judge Gonzales opined.

Pursuant to the Agreement, the closing of the sale transaction
and the assumption of the liabilities under the Asset Sale
Agreement is contemplated to take place on the second day after
customary conditions to Closing have been satisfied.  In general,
the Agreement may be terminated by either Escada USA or the
Purchaser if, among other things, the Closing has not occurred on
or before January 15, 2010.

The Purchaser will acquire substantially all of Escada USA's
assets that are owned, held or used by the Debtor in connection
with its business.  The Purchaser has also agreed to make written
offers of employment, effective as of the closing of the Sale, to
at least 80% of Escada USA's current employees.  All employment
offers will be at initial wages and benefits that are
substantially comparable in the aggregate to the benefits in
effect for each employee immediately prior to closing of the
Sale.

Within two days following the execution of the Agreement, the
Purchaser will deposit with The Bank of New York Mellon by
certified check or wire transfer of immediately available funds,
an amount equal to $1,000,000.  BNY Mellon is the designated
escrow agent under an Escrow Agreement among the parties dated as
of December 21, 2009.

The Court held that as of the Closing, (i) the transactions
contemplated by the Asset Sale Agreement effect a valid transfer
of the Debtor's right, title and interest in and to the
Transferred Assets to Escada Subco, free and clear of any
interests, and (ii) the Agreement and the transactions
contemplated will specifically be performable and enforceable
against and binding upon, the Debtor, the Purchaser or any
successor trustee appointed in the Debtor's Chapter 11 case.

In addition, the Purchaser will reimburse Escada USA for any rent
and related charges due prior to Closing and paid by the Debtor
prior to the Closing pursuant to Assumed Contracts related to
Leased Real Properties to the extent that the payments are
attributable to the period following the Sale Closing.

Judge Gonzales directs each and every federal, state, and local
governmental agency or department to accept any and all documents
and instruments necessary and appropriate to consummate the
transactions contemplated by the Escada Asset Sale Agreement.

All persons and entities holding interests or claims, as defined
under Section 101(5) of the Bankruptcy Code, against or in Escada
USA or Escada USA's interests in the Transferred Assets arising
under or out of the operation of Escada USA's businesses before
the Closing will permanently be enjoined from asserting,
prosecuting or otherwise pursuing their interests or claims
against the Purchaser, its property, or its successors and
assigns.

Any and all valid and perfected Interests in the Transferred
Assets of Escada USA will attach to any proceeds of those
Transferred Assets immediately upon receipt by the Debtor in the
order of priority, and with the same validity, force and effect
which they now have against the Transferred Assets.  No proceeds
subject to an asserted Interest will be used or disbursed by the
Debtor without the consent of the party or parties asserting an
Interest.

Pursuant to the Agreement, Escada USA is directed to (i) change
its name, so that the term "Escada" is not used, and (ii) revise
the caption of the Chapter 11 proceeding to reflect the new name
of the Debtor, Judge Gonzales held.

Judge Gonzales denied and overruled on their merits, with
prejudice, all objections to the Sale Motion that have not been
withdrawn, waived, or settled, or resolved.

A full-text copy of Judge Gonzales' Sale Order is available for
free at http://bankrupt.com/misc/EscadaAssetSaleORD.pdf

              Assumption and Rejection of Pacts

The Court also approved (i) the assumption and assignment of
certain executory contracts and unexpired leases related to the
Escada USA Assets to the Purchaser, free of all liens, claims,
encumbrances and other interests, and (ii) the rejection of
certain Contracts and Leases.

A 15-page schedule of prepetition Contracts and Leases for
assumption or rejection, as applicable, under the parties' Asset
Sale Agreement is available at no charge at:

    http://bankrupt.com/misc/EscadaAssumed&RejectedPacts.pdf

Counterparties to the Rejected Contracts will have 30 days from
the Rejection Date to file proofs of claim on account of damages
arising from the rejection of those Rejected Contracts.  Within
the later of 10 days after Closing or as otherwise agreed to by
the parties, Escada USA or the Purchaser, as the case may be,
will pay any undisputed portion of the Cure Amounts with respect
to the Objecting Landlords.

The Court further ruled that the rights of Objecting Landlords to
assert Adjustment Amounts, which pertain to additional Cure
Amounts solely related to attorneys' fees, and rent and related
charges that have not yet been billed or have not yet become due
under the Assumed Contracts for year-end adjustments related to
common charges arising prior to the Closing are preserved.

The Objecting Landlords are required to submit detailed invoices
to Escada USA for any disputed Adjustment Amounts on or before
January 11, 2010.  To the extent any portion of the Adjustment
Amount is unknown as of January 11, the Court orders the
Objecting Landlords to submit a detailed, reasonable estimate of
the Adjustment Amounts calculated by taking 125% of the average
of the amounts paid by Escada USA for the years 2006, 2007 and
2008, or with respect to the shorter period, to the extent Escada
USA was not a tenant of the Objecting Landlord for those three
years.

Escada USA will place in a segregated account an amount from the
Sale proceeds equal to the aggregate amount of all Disputed Cure
Amounts and all Adjustment Amount Estimates with respect to the
Objecting Landlords, or other amounts as agreed to in writing by
the Debtor and the Objecting Landlords.

The pendency of a dispute relating to Cure Amounts or Adjustment
Amounts will not prevent or delay the assumption and assignment
by the Purchaser of any contracts or leases related to the Asset
Sale, the Court clarified.

                        Landlords React

Seven landlords subsequently noted that Escada USA's proposed
Cure Amounts must be adjusted to reflect these correct Cure
Amounts:

                                                 Asserted
  Objecting Landlord                            Cure Amount
  ------------------                            -----------
  Fashion Logistics, Inc.                           $50,058
  The Heritage Commercial Realty Trust               13,885
  The Beverly Wilshire Hotel Company                  7,060
  General Growth Properties, Inc.                     5,185
  Williamsburg Outlets, L.L.C. (License)              5,171
  LVP St. Augustine Outlets, LLC (License)            2,613
  San Marcos Factory Stores, LTD.                     1,300

According to Williamsburg Outlets, LVP Outlets, San Marcos
Stores, Gulf Coast Factory Shops Limited Partnership (License),
Orlando Outlet Owner, LLC and Second Horizon Group Limited
Partnership (License), the Asset Sale Motion does not contain
information with respect to the Purchaser's financial condition
or ability to perform under the Leases.  Simon Property Group,
Inc. filed a joinder to the Objection of Williambsburg, et al.

ACE American Insurance Company, for its part, contends that the
Sale Motion "fails to disclose whether the Debtor intends to
assume and assign, or reject" certain prepetition and
postpetition insurance policies issued by ACE.

The Court's Sale Order takes into account certain revisions
submitted by the Debtors on January 6, 2010.  The Revisions have
been agreed to by the Objecting Landlords, Shannon Lowry Nagle,
Esq., at O'Melveny & Myers LLP, in New York, disclosed on behalf
of the Debtors.

                        About Escada AG

The ESCADA Group -- http://www.escada.com/-- is an international
fashion group for women's apparel and accessories, which is active
on the international luxury goods market.  It has pursued a course
of steady expansion since its founding in 1976 by Margaretha and
Wolfgang Ley and today has 182 own shops and 225 franchise
shops/corners in more than 60 countries.

As of August 10, 2009, the Escada Group operated 176 owned stores
and so-called shop in shops, of which 26 owned stores are located
in the United States and operated by Escada (USA) Inc. and 2
stores are planned to be opened in the United States before year
end.  Escada Group products are also sold in 163 stores worldwide
which are operated by franchisees.  Escada Group had total assets
of EUR322.2 million against total liabilities of 338.9 million as
of April 30, 2009.

Wholly owned subsidiary Escada (USA) Inc. filed for Chapter 11 on
August 14, 2009 (Bankr. S.D.N.Y. Case No. 09-15008).  Judge Stuart
M. Bernstein handles the case.  O'Melveny & Myers LLP has been
tapped as bankruptcy counsel.  Kurtzman Carson Consultants serves
as claims and notice agent.  Escada US listed US$50 million to
US$100 million in assets and US$100 million to US$500 million in
debts in its petition.

Bankruptcy Creditors' Service, Inc., publishes Escada USA
Bankruptcy News.  The newsletter tracks the Chapter 11 proceedings
of Escada USA, and the insolvency proceedings of ESCADA AG and its
units.  (http://bankrupt.com/newsstand/or 215/945-7000)


ESTATE FINANCIAL: Court Establishes March 31 as Claims Bar Date
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
has set March 31, 2010, as the last day for individuals and
entities to file proofs of claim against Estate Financial, Inc.,
and Estate Financial Mortgage Fund, LLC.

Proofs of claims must be filed with:

     U.S. Bankruptcy Court
     Clerk of the Court
     1415 State Street
     Santa Barbara, CA 93101

Estate Financial, Inc. -- http://www.estatefinancial.com/-- is a
California corporation that had been a license real estate
brokerage firm since the later 1980's.  EFI solicited funding for,
and arranged and made, loans secured by various real property.
EFI also was the sole manager of Estate Financial Mortgage Fund
LLC (EFMF), a California limited liability company that was
organized for the purpose of investing in and funding loans
originated by EFI which were secured by first deeds of trust
encumbering commercial and real estate located primarily in
California and has been funding such mortgage loans since 2002.

Five creditors of EFI filed an involuntary Chapter 11 petition
against the real estate broker on June 25, 2008 (Bankr. C.D.
Calif. Case Number 08-11457).  Estate Financial Inc. consented to
the bankruptcy filing on July 16, 2008.

Robert B. Orgel, Esq., at Pachulski Stang Ziehl & Jones LLP, and
William C. Beall, Esq., at Beall and Burkhardt, represent the
Debtor as counsel.  A Chapter 11 trustee, Thomas P. Jeremiassen,
was appointed by the Court on July 23, 2008.  Robyn B. Sokol,
Esq., and Steven T. Gubner, Esq., at Ezra Brutzkus & Gubner,
represent the official committee of unsecured creditors as
counsel.  In its schedules, Estate Financial listed total assets
of $27,428,550, and total debts of $7,316,755.


FAYETTEVILLE MARKETFAIR: Has Until Jan. 19 to Use Cash Collateral
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of North
Carolina, in a second interim order, authorized Fayetteville
Marketfair Investors, LLC, to use cash securing its obligations to
prepetition lenders.

A final hearing on the Debtor's use of cash collateral will be
held on January 19, 2010, at 9:30 p.m. in Wilson, North Carolina.

The Debtor would use the cash collateral to fund its Chapter 11
case, pay suppliers and other parties.

Capmark Finance, Inc., asserts a $19,850,000 secured claim against
the Debtor.  Faison & Associates, LLC, was appointed as Receiver,
at the behest of Capmark, on an ex parte basis for certain
specified purposes, including the collection of rent, on
November 30, 2009.  The Debtor continued to receive rent through
the filing of the petition.

The Debtor granted a security interest to Capmark in, among other
things, leases and rents.  A UCC-1 perfecting the security
interest of Capmark was filed with the North Carolina Secretary of
State on August 23, 2006.

The Debtor's access to the cash collateral will terminate on the
earlier of (a) January 19, 2010, or (b) the occurrence of a
termination event.

Miami, Florida-based Fayetteville Marketfair Investors, LLC, filed
for Chapter 11 on Dec. 14, 2009 (Bankr. E.D. N.C. Case No. 09-
10859).  William P. Janvier, Esq., at Everett Gaskins Hancock &
Stevens, LLP, assists the Company in its restructuring effort.
The Company listed $10,000,001 to $50,000,000 in assets and
$10,000,001 to $50,000,000 in liabilities.


FIRST MIDWEST: Fitch Puts Issuer Default Ratings on Negative Watch
------------------------------------------------------------------
Fitch Ratings has placed the long-term Issuer Default Ratings of
First Midwest Bancorp, Inc., and its subsidiary, First Midwest
Bank, on Rating Watch Negative.

The rating action reflects Fitch's view that FMBI's commercial
real estate loan portfolio presents potential pressures on
earnings and capital that may warrant a rating downgrade.  FMBI's
exposure to CRE loans, including construction loans, comprises
nearly 56% of total loans and over 500% of tangible common equity
at Sept. 30, 2009, which represents a much larger exposure than
similarly rated peers.

In August 2009, Fitch initiated an expanded review of CRE
exposures for banking and thrift institutions, beginning with a
survey aimed at obtaining detailed data on the CRE portfolios of
companies rated by Fitch.  The information gained from the CRE
survey provided a framework for Fitch to examine specific areas of
concern across the banking industry, conduct more uniform stress
tests and assess if rating actions are needed to reflect what will
likely be continued deterioration in asset quality.  Fitch's
assessment of FMBI's CRE data is ongoing.  Fitch is placing its
ratings on Rating Watch Negative pending a more in-depth review of
the company's CRE portfolio.  Fitch plans to undertake a more
focused review of FMBI's CRE portfolio to assess potential ranges
of estimated losses, and their relative impact on profitability
and capital over the near-term.  At the conclusion of that review,
FMBI will resolve the Rating Watch Negative.

This review concentrated in particular on credit risk and
capitalization.

Fitch places these ratings on Rating Watch Negative:

First Midwest Bancorp, Inc.

  -- Long-term IDR 'BBB';
  -- Individual 'C';
  -- Subordinated debt 'BBB-';
  -- Preferred stock 'BB+';
  -- Short-term IDR 'F2';
  -- Support '5';
  -- Support floor 'NF'.

First Midwest Bank

  -- Long-term IDR 'BBB';
  -- Individual 'C';
  -- Long-term deposits 'BBB+';
  -- Short-term IDR 'F2';
  -- Short-term deposits 'F2';
  -- Support '5';
  -- Support floor 'NF'.

First Midwest Capital Trust I

  -- Preferred stock 'BB+'.


FORBES MEDI-TECH: Receives NASDAQ Suspension Notice
---------------------------------------------------
Forbes Medi-Tech Inc. has received a Nasdaq Staff Deficiency
Letter indicating that it does not meet The Nasdaq Capital Market
initial listing standard set forth in Listing Rule 5505 and unless
the Company requests an appeal of the Staff's determination, the
Company's common shares will be suspended at the opening of
business on January 15, 2010, and a Form 25-NSE will be filed with
the Securities and Exchange Commission which will remove the
Company's common shares from listing and registration on The
Nasdaq Stock Market.

The Company may appeal Staff's determination to a Hearings Panel,
pursuant to the procedures set forth in the Nasdaq Listing Rule
5800 Series, by providing notice of the appeal to NASDAQ no later
than 4:00 p.m. Eastern Time on January 13, 2010.  The Company will
be required to provide a plan to regain compliance to the Panel.
A hearing request would stay the suspension of the Company's
securities and the filing of the Form 25-NSE pending the Panel's
decision.

The Company is considering its options for appeal and will
announce if such an appeal is filed.

If the Company does not appeal Staff's determination to the Panel,
the Company intends to make application to have the Company's
securities eligible to trade on the OTC Bulletin Board.

Forbes Medi-Tech Inc. (NASDAQ:FMTI) -- http://www.forbesmedi.com/
-- is a life sciences company focused on evidence-based
nutritional solutions.  Forbes provides value-added products and
cholesterol-lowering ingredients for use in functional foods and
dietary supplements.  Forbes successfully developed and
commercialized its Reducol(TM) plant sterol blend, which has
undergone clinical trials in various matrices and has been shown
to lower "LDL" cholesterol levels safely and naturally.

                      Going Concern Doubt

As reported by the Troubled Company Reporter on Nov. 30, 2009, the
Company's future operations are completely dependent upon its
ability to complete a strategic transaction such as a merger,
acquisition, sale of business or other suitable transaction,
and/or secure additional funds.  The market for any of these
activities for companies such as Forbes has always been
challenging, and the Company believes that current economic
conditions and uncertainties have provided, and will continue to
provide, additional challenges.  While management is continuing to
seek available alternatives, there is no assurance that any of
these activities will be successfully completed in a timely
manner, or at all.

If the Company cannot complete one or more of these activities in
advance of the end of the first quarter of 2010, it will have to
consider winding up, dissolution or liquidation.


FORWARD FOODS: Wins Plan Confirmation; Emigrant Keeps Control
-------------------------------------------------------------
Bill Rochelle at Bloomberg News reports that Forward Foods LLC
confirmed a plan calling for installment payments to creditors
over seven years.  The secured creditor and owner, Emigrant
Capital Corp., will receive all the new equity in return for $8.3
million of its $25.5 million in debt.  In addition, Emigrant
receives a $4 million secured term note plus a $5.45 million
junior secured note in which principal is payable from available
income.

According to the report, under the Plan, unsecured creditors, owed
$4.5 million, have the option of being paid in full if available
income is sufficient.  Otherwise, they can elect to receive 5
percent in cash up front with 75% paid from available income.

Minden, Nevada-based Forward Foods LLC is a manufacturer of
protein bars.  Forward is primarily owned by private-equity
investor Emigrant Capital Corp. which purchased the protein bar
business in 2006 from Bluegrass Bars LLC.  Forward's petition
listed assets of $21.3 million against debt totaling
$25.4 million, including $18.6 million in secured claims.

Forward Foods LLC filed a Chapter 11 petition February 17 in
Delaware (Bankr. Case No. 09-10545) after recalling 75% of its
products on account of using peanuts from Peanut Corp. of
America.  PCA had earlier filed for Chapter 7 liquidation, after
closing its plants due to salmonella poisoning on its products.


FREEDOM COMMUNICATIONS: Wants Plan Filing Extended Until March 30
-----------------------------------------------------------------
Freedom Communications Holdings, Inc., et al., ask the U.S.
Bankruptcy Court for the District of Delaware to extend their
exclusive period to file a Chapter 11 plan and to solicit
acceptances of that plan until March 30, 2010, and May 30, 2010,
respectively.

The Debtors relate that they need additional time to maintain
their progress towards a consensual plan of reorganization.

The Debtors propose a hearing on the extension of their exclusive
periods on February 18, 2010, at 10:00 a.m. (ET)

Freedom Communications, headquartered in Irvine, California, is a
national privately owned information and entertainment company of
print publications, broadcast television stations and interactive
businesses.  The company's print portfolio includes approximately
90 daily and weekly publications, including approximately 30 daily
newspapers, plus ancillary magazines and other specialty
publications.  The broadcast company's stations -- five CBS, two
ABC network affiliates and one CW affiliate -- reach more than 3
million households across the country.  The Company's news,
information and entertainment Web sites complement its print and
broadcast properties.

Freedom Communications filed for Chapter 11 on Sept. 1, 2009
(Bankr. D. Del. Case No. 09-13046).  Attorneys at Young Conaway
Stargatt & Taylor, and Latham & Watkins LLP serve as Chapter 11
counsel.  Houlihan, Lokey, Howard & Zukin, Inc., serves as
financial advisor while AlixPartners LLC is restructuring
consultant.  Logan & Co. serves as claims and notice agent.

Freedom Communications had $757,000,000 in assets against debts of
$1,077,000,000 as of July 31, 2009.


GENMAR HOLDINGS: Platinum Equity Buys Key Assets for $70 Million
----------------------------------------------------------------
Platinum Equity won the auction for most of Genmar Holdings Inc.'s
assets for $70 million.  Colin Moore at ESPNOutdoors.com reports
that Platinum Equity raised its bid from $55 million to $70
million for the assets of Genmar Holdings during the liquidation
auction.  Platinum Equity will assume ownership on Jan. 20, 2010.

The assets includes Ranger Boats, Glasstron, Lund, Wellcraft,
Champion, Stratos and Four Winns, Mr. Moore notes.  Former Genmar
CEO Erwin Jacobs took yacht group for $6.05 million, and MCBC
Hyrdaboats LLC acquired Hyrda-Sports for $1 million, he adds.

                   About Genmar Holdings, Inc.

Pulaski, Wisconsin-based Carver Italia, LLC, and its affiliates,
including Genmar Holdings, Inc. -- http://www.genmar.com/--
is the world's second-largest manufacturer of fiberglass
powerboats.  It generated $460 million in annual revenue making
boats using brand names including Carver, Four Winns, Glastron,
Larson, and Wellcraft.

Genmar and an affiliate filed for Chapter 11 bankruptcy protection
on June 1, 2009 (Bankr. D. Minn. Case No. 09-33773, and 09-43537).
James L. Baillie, Esq., and Ryan Murphy, Esq., at Fredrikson &
Byron, PA, assist the Debtors in their restructuring efforts.
Carver Italia listed $10 million to $50 million in assets and
$100 million to $500 million in debts.

Manchester Companies, Inc., was named Chief Restructuring Officer
of Genmar and approved by the Bankruptcy Court in June and has
been managing the company's restructuring process since then.


GOOD TIMES: Hein Associates Raises Going Concern Doubt
------------------------------------------------------
Hein & Associates LLP, in Denver, expressed substantial doubt
about Good Times Restaurants, Inc.'s ability to continue as a
going concern after auditing the Company's consolidated financial
statements as of and for the years ended September 30, 2009, and
2008.  The independent public accounting firm reported that the
Company remains out of compliance with certain debt covenants, and
has suffered recurring losses from operations.

The Company reported a net loss of $1,646,000 for the year ended
September 30, 2009, compared to a net loss of $1,076,000 for the
year ended September 30, 2008.

Net revenues for fiscal 2009 decreased $2,133,000 (8.2%) to
$23,749,000 from $25,882,000 for fiscal 2008.

Same store restaurant sales decreased $2,587,000 or (12.4%),
during fiscal 2009.  Restaurant sales decreased $292,000 due to
one non-traditional company-owned restaurant not included in same
store sales and increased $848,000 due to seven new, acquired or
dual branded company-owned restaurants that were opened or
acquired in fiscal 2008 and 2009.  Net revenues decreased $102,000
in fiscal 2009 due to an increase in franchise fees of $13,000
offset by a decrease in franchise royalties of $115,000.

The loss from operations was $1,352,000 in fiscal 2009 compared to
a loss from operations of $946,000 in fiscal 2008.

                          Balance Sheet

At September 30, 2009, the Company's consolidated balance sheet
showed total assets of $10.3 million, total liabilities of
$5.9 million, minority interests in partnerships of $428,000, and
total stockholders' equity of $4.0 million.

The Company's consolidated balance sheet at September 30, 2009,
also showed strained liquidity with $1.2 million in total current
assets available to pay $2.4 million in total current liabilities.

A full-text copy of the Company's Form 10-K is available at no
charge at http://researcharchives.com/t/s?4d31

                     Cash and Working Capital

As of September 30, 2009, the Company had $815,000 in cash and
cash equivalents on hand.  The Company anticipates that it will
require additional working capital of $300,000 to $500,000 during
January through April, 2010 and is pursuing additional sources of
funding to increase working capital.

As of September 30, 2009, the Company had a working capital
deficit of $1,200,000 due primarily to the entire note payable to
Wells Fargo Bank, N.A. of $846,000 shown as a current liability
due to certain loan covenant defaults that existed as of
September 30, 2009.  The Company is not in payment default under
the note and anticipates remaining current on all principal and
interest payments in fiscal 2010, subject to the Company
successfully raising additional operating capital.  The Company
says it has received a Forbearance and Reservation of Rights
letter from Wells Fargo Bank stating that they are accepting
current principal and interest payments and are not currently
accelerating the note, subject to agreeing to an acceptable
Required Corrective Action for the covenant defaults.

"It is unlikely that we will have an acceptable Required
Corrective Action until our Earnings Before Interest Taxes and
Depreciation improves.  If Wells Fargo were to accelerate the note
payable, we would need additional financing and we do not
currently have a source for such financing."

                         About Good Times

Based in Golden, Colo., Good Times Restaurants Inc. is essentially
a holding company for its wholly owned subsidiary, Good Times
Drive Thru Inc., which is engaged in the business of developing,
owning, operating and franchising hamburger-oriented drive-through
restaurants under the name Good Times Burgers & Frozen Custard.
The Company currently operates and franchises 52 restaurants.


GRANT FOREST: Georgia-Pacific to Buy Plants for $400 Million
------------------------------------------------------------
Georgia-Pacific announced January 11 that it has signed an
agreement to acquire Grant Forest Products' oriented strand board
(OSB) facility at Englehart, Ontario and the associated facility
at Earlton, Ontario, as well as its OSB facilities at Allendale
and Clarendon, S.C., for approximately $400 million.

Grant Forest Products intends to seek approval of the agreement in
the near future from the Canadian Court overseeing Grant's
Companies' Creditors Arrangement Act case and a United States
Bankruptcy Court.

"These are world-class facilities that fit strategically with our
current wood products operations and we are pleased with this
opportunity to grow our OSB business in Canada and the U.S.," said
Mark Luetters, president of Georgia-Pacific Wood Products. "We
look forward to closing this deal and having these facilities, and
the employees who operate them, join the Georgia-Pacific family."

Georgia-Pacific intends to operate the OSB manufacturing
facilities that employ more than 300 people in Ontario and at
Allendale, S.C. At the Clarendon plant, Georgia-Pacific plans to
complete the unfinished construction and begin operations as soon
as market conditions allow, which will entail employing more than
100 people in Clarendon County. In addition, Georgia-Pacific plans
to make capital investments worth several million dollars to
improve facilities and deliver enhanced reliability and
efficiencies.

The transaction is expected to close in the first half of 2010,
following appropriate Canadian and U.S. regulatory review and
court approval.

Headquartered at Atlanta, Georgia-Pacific is one of the world's
leading manufacturers and marketers of building products, tissue,
packaging, paper, cellulose and related chemicals.


GOODY'S LLC: To Have March 3 Plan Confirmation Hearing
------------------------------------------------------
Bill Rochelle at Bloomberg News reports that Goody's LLC, which
has liquidated its 282 stores, scheduled a March 3 confirmation
hearing for approval of the liquidating Chapter 11 plan.

According to the report, Goody's has already obtained approval of
the disclosure statement explaining the Plan.  The Plan, if
approved by creditors and the judge, will govern the distribution
of $7 million remaining from the asset sale that generated $119
million, leaving unpaid only $540,000 of the secured claims.  The
Disclosure Statement projects that unsecured creditors owed more
than $114 million will recover 0.5%.  Workers who were fired
without the notice required by federal law will receive almost
$900,000 on priority claims.

                         About Goody's LLC

Headquartered in Wilmington, Delaware, Goody's LLC, successor to
Goody's Family Clothing Inc., operates a chain of clothing stores.

Goody's Family Clothing Inc., and 19 of its affiliates filed for
Chapter 11 protection on June 9, 2008 (Bankr. D. Del. Lead Case
No. 08-11133).  Gregg M. Galardi, Esq., and Marion M. Quirk, Esq.,
at Skadden Arps Slate Meagher & Flom LLP, and Paul G. Jennings,
Esq., at Bass, Berry & Sims PLC, represented the Debtors.  The
Company emerged from bankruptcy October 20, 2008, after closing
more than 70 stores.  The reorganized entity was named Goody's
LLC, and headquartered in Wilmington, Delaware.

Goody's subsequently announced plans to liquidate in January
2009 when it was unable to restructure terms with creditors.
Goody's LLC and 13 of its affiliates filed for Chapter 11
protection on January 13, 2009 (Bankr. D. Del. Lead Case No.
09-10124).  M. Blake Cleary, Esq., at Young, Conaway, Stargatt &
Taylor, LLP; Paul G. Jennings, Esq., Gene L. Humphreys, Esq.,
Edward C. Meade, Esq., and Kristen C. Wright, Esq., at Bass Berry
& Sims PLC represent the Debtors as counsel.  Skadden, Arps, Slate
Meagher & Flom, LLP, is the Debtors' special counsel; FTI
Consulting Inc. is the Debtors' financial advisor.  Goody's has
closed its 282 stores and liquidated its inventory and other
assets.  In its schedules, Goody's LLC listed assets of
$542,231,601 and liabilities of $510,471,005.


GREEKTOWN HOLDINGS: Panel Wants to Extend Edelman Work
------------------------------------------------------
The Official Committee of Unsecured Creditors of Greektown
Holdings LLC asks the Court for authority to extend its retention
of Charles S. Edelman LLC as valuation consultant from December 1,
2009, through and including January 31, 2010.

Joel D. Applebaum, Esq., at Clark Hill PLC, in Birmingham,
Michigan, relates that Edelman LLC's services are required by the
Committee in preparation for and during the Confirmation Hearing
on the Noteholder Plan and post-confirmation activity.

The Committee maintains that Edelman LLC remains a "disinterested
person" as the term is defined in Section 101(14) of the
Bankruptcy Code.

In a separate filing, the Committee asks the Court to shorten the
notice period and set an expedited hearing on the Supplemental
Application.

                      About Greektown Casino

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

The Company and seven of its affiliates filed for Chapter 11
protection on May 29, 2008 (Bankr. E.D. Mich. Lead Case No.
08-53104).  Daniel J. Weiner, Esq., Michael E. Baum, Esq., and
Ryan D. Heilman, Esq., at Schafer and Weiner PLLC, represent the
Debtors in their restructuring efforts.  Judy B. Calton, Esq., at
Honigman Miller Schwartz and Cohn LLP, represents the Debtors as
their special counsel.  The Debtors chose Conway MacKenzie &
Dunleavy as their financial advisor, and Kurtzman Carson
Consultants LLC as claims, noticing, and balloting agent.  Clark
Hill PLC serves as counsel to the Official Committee of Unsecured
Creditors.

Greektown Holdings listed assets and debts of $100 million to
$500 million in its bankruptcy petition.

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


GREEKTOWN HOLDINGS: Papases Get Lift Stay to Notify on "Put"
------------------------------------------------------------
Dimitrios Papas and Viola Papas sought and obtained a Court
ruling modifying the automatic stay to allow them to give the
Debtors notice of a certain "put" described in a certain
amendment to a redemption agreement, subscription agreement,
guaranty agreement, security agreement and standstill agreement
entered into by Monroe Partners LLC, Kewadin Greektown Casino
LLC, the Sault Ste. Marie Tribe of Chippewa Indians, and the
Kewadin Casinos Gaming Authority.

The Amendment to the Redemption Agreement grants the Papases an
option to acquire a sufficient membership interest in Monroe
Partners, which would constitute an indirect ownership interest
in Greektown Casino of not less than and not more than a 1%
membership interest as of the date of the acquisition.  At any
time after the first anniversary of the date of execution of the
Amendment and prior to the expiration of the Option Term,
provided that the New Option has not been exercised, then the
Papases will have the right to put the New Option to Monroe
Partners by giving notice to Monroe Partners, whereupon Monroe
Partners will pay to the Papases $2,500,000 in consideration of
the New Option and the New Option will be terminated and become
null and void.

Pursuant to an agreement by the parties, the Option Term was
extended through December 31, 2009.

The Papases timely filed proofs of claims in, inter alia, the
bankruptcy cases of Monroe Partners and Kewadin Greektown Casino.
The amount stated on the proofs of claim against was $5,427,052,
plus the value of an option and "put" that is described in the
proof of claim.

Lisa S. Gretchko, Esq., at Howard & Howard Attorneys PLLC, in
Royal Oak, Michigan, said the exhibits attached to the Papases'
proofs of claim filed in the Monroe Partners and Kewadin
bankruptcy cases refer to the Amendment to Redemption Agreement
and highlight that the Papases can "put" the option to Monroe
Partners by giving notice, whereupon the Option Price is owing to
the Papases.

The Papases maintained that the proofs of claim they timely filed
in the Monroe Partners and Kewadin bankruptcy cases constitute
notice to Monroe Partners, Kewadin, and the other Debtors of the
"put" described under the Amendment to Redemption Agreement.

                      About Greektown Casino

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

The Company and seven of its affiliates filed for Chapter 11
protection on May 29, 2008 (Bankr. E.D. Mich. Lead Case No.
08-53104).  Daniel J. Weiner, Esq., Michael E. Baum, Esq., and
Ryan D. Heilman, Esq., at Schafer and Weiner PLLC, represent the
Debtors in their restructuring efforts.  Judy B. Calton, Esq., at
Honigman Miller Schwartz and Cohn LLP, represents the Debtors as
their special counsel.  The Debtors chose Conway MacKenzie &
Dunleavy as their financial advisor, and Kurtzman Carson
Consultants LLC as claims, noticing, and balloting agent.  Clark
Hill PLC serves as counsel to the Official Committee of Unsecured
Creditors.

Greektown Holdings listed assets and debts of $100 million to
$500 million in its bankruptcy petition.

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


GREEKTOWN HOLDINGS: Proposes Isle of Capri as Gaming Advisor
------------------------------------------------------------
Greektown Holdings LLC and its units seek the Court's permission
to employ Isle of Capri of Michigan LLC as gaming consultant.

As previously reported, the Debtors employed The Fine Point Group
as their gaming consultants.  The Fine Point Engagement, however,
expired on December 31, 2009.

To ensure the continued and effective operation of their
business and property, the Debtors' management board resolved to
engage Isle of Capri to provide temporary consulting services
with respect to operational matters pertaining to the Debtors'
casino and hotel facilities.

The Debtors assert that Isle of Capri is well qualified to serve
as their gaming consultants because of the firm's extensive
knowledge and experience in the gaming industry.

Specifically, the Debtors contemplate the provision of these
services by Isle of Capri:

  -- Robert Wyre, vice president of Isle of Capri, will devote
     at least 40 hours per week and will be physically present
     at the Debtors' facility at least five days a week.

  -- Employees, other than Mr. Wyre, will devote at least 120
     hours a month, with respect to human resources, compliance,
     IT, marketing, risk, and construction maintenance.  The
     employees will be physically present on an as-needed
     basis.

  -- No later than 30 days after the effective date of a plan of
     Reorganization in the Debtors' cases, Isle of Capri will
     provide the Debtors' board a written assessment of the
     Debtors' facility and operations, including strengths,
     weaknesses, and opportunities.

Daniel J. Weiner, Esq., at Schafer and Weiner PLLC, in Bloomfield
Hills, Michigan, assures the Court that Isle of Capri's services
will not duplicate the services that other professionals provide
to the Debtors.

The Debtors will pay Isle of Capri a fixed fee of $200,000 per
month for the first six months of the firm's retention and
$250,000 thereafter, to be paid monthly in advance during the
term of the engagement.  The Fee will be prorated for any partial
months.

In addition, the Debtors will reimburse Isle of Capri for the
firm's necessary expenses incurred in connection with the
performance of the contemplated services.

Mr. Wyre assures the Court that his firm has no interests adverse
to the Debtors.  He asserts that Isle of Capri is a
"disinterested person" as the term is defined under Section
101(14) of the Bankruptcy Code.

In a separate filing, the Debtors ask the Court to schedule an
expedited hearing prior to January 12, 2010, for their request.

Mr. Weiner contends that the employment of Isle of Capri is a
critical and time sensitive matter, given the expiration of the
Debtors' contact with Fine Point on December 31, 2009.  He adds
that any delay in the approval of the engagement and the
commencement of work by Isle of Capri could have serious negative
consequences for the Debtors.

                       Debtors' Statement

Isle of Capri Casinos, Inc. (Nasdaq: ISLE) and the management
board of Greektown Casino, LLC announced Jan. 5 that Isle of Capri
has been engaged to provide marketing and operational consulting
services to Greektown Casino-Hotel in Detroit, Michigan through
the completion of its current Chapter 11 reorganization process.

The management board of Greektown Casino-Hotel also announced Jan.
5 that Cliff Vallier has been named as the property's chief
executive officer, effective immediately.  Both announcements are
subject to approval from the U.S. Bankruptcy Court and the
Michigan Gaming Control Board.

"This new leadership has the extensive experience and demonstrated
ability necessary to boost the performance of the property over
the long term," said Greektown Casino-Hotel Management Board
member Jake Miklojcik.  "As we look to the future and continue to
seek opportunities to improve performance, maximize profits and
minimize costs, Mr. Vallier and Isle of Capri know the Midwest
market, they know casino management and they are positioned to
take the property to the next level."

Vallier has 18 years of gaming management experience, including
the past seven years with Greektown Casino, where he has served as
chief financial officer/assistant general manager, interim CEO,
vice president of finance, and senior director of finance. He
earned a bachelor's degree in business administration from
Northern Michigan University in 1988.

Virginia McDowell, the president and chief operating officer of
Isle of Capri, commented, "Our company recognizes that, even in
this challenging economic environment, we have the opportunity
to provide services to gaming assets in new and existing markets
in order to leverage our operational expertise while having a
positive impact on our balance sheet. We firmly believe in the
upside potential at Greektown, and the team now in place has the
skills and experiences to help guide the management through the
remainder of their reorganization."

Greektown Casino-Hotel, located at 555 E. Lafayette Boulevard in
Detroit's Greektown Entertainment District, opened on Nov. 10,
2000. Readers of The Detroit News and Detroit Free Press have
voted Greektown Casino-Hotel Michigan and Detroit's "Best Casino"
numerous times.  Greektown Casino-Hotel offers such amenities as
the International Buffet, the Eclipz Lounge and a VIP lounge for
players.  In addition to being named "Best Casino" by readers of
The News and Free Press, Greektown Casino-Hotel also placed first
in other categories in The News' reader survey, including "Best
Slots," "Best Wait Staff Outfits," "Best Craps Tables," "Best
Blackjack Tables," "Best High Rollers Area," "Best Casino
Restaurant," and "Best Casino Entertainment."  Greektown Casino-
Hotel opened its new 400-room hotel tower February 2009.  For
reservations and group events, call 877-GCH-5554 or visit
www.greektowncasinohotel.com

Isle of Capri Casinos, Inc., creates value for customers, clients,
shareholders and employees by providing regional gaming and
leisure experiences matched to customer preferences, focused
on operational effectiveness and organic growth for the company's
properties.  With solid regional diversification across the U.S.,
Isle of Capri has a seasoned management team who believes in
strategic business plan to increase value through strong fiscal
discipline and targeted operating strategies.

The Company owns and operates 14 casino properties in six states.
Collectively, these properties boast over 15,000 slot
machines and nearly 400 table games, over 3,100 hotel rooms and
more than three dozen restaurants.  The Company's properties are
in Biloxi, Lula and Natchez, Mississippi; Lake Charles,
Louisiana; Bettendorf, Davenport, Marquette and Waterloo, Iowa;
Boonville, Caruthersville and Kansas City, Missouri; two casinos
in Black Hawk, Colorado; and a casino and harness track in
Pompano Beach, Florida.

One of the largest publicly-traded gaming companies in the United
States, Isle of Capri is traded on the NASDAQ stock exchange under
ticker symbol ISLE.  More information is available at the
Company's Web site, www.islecorp.com

                Parties Oppose Expedited Hearing

Several parties to a certain "Purchase and Put Agreement"
composed of:

  -- John Hancock Strategic Income Fund;
  -- John Hancock Trust Strategic Income Trust;
  -- John Hancock Funds II Strategic Income Fund;
  -- John Hancock High Yield Fund;
  -- John Hancock Trust High Income Trust;
  -- John Hancock Funds II High Income Fund;
  -- John Hancock Bond Fund;
  -- John Hancock Income Securities;
  -- John Hancock Investors Trust;
  -- John Hancock Funds III Leveraged Companies Fund;
  -- John Hancock Funds II Active Bond Fund;
  -- John Hancock Funds Trust Active Bond Trust;
  -- Manulife Global Fund U.S. Bond Fund;
  -- Manulife Global Fund U.S. High Yield Fund;
  -- Manulife Global Fund Strategic Income;
  -- MIL Strategic Income Fund;
  -- Oppenheimer Champion Income Fund;
  -- Oppenheimer Strategic Income Fund;
  -- Oppenheimer Strategic Bond Fund/VA;
  -- Oppenheimer High Income Fund/VA;
  -- ING Oppenheimer Strategic Income Portfolio;
  -- Brigade Capital Management;
  -- Sola, Ltd.; and
  -- Solus Core Opportunities Master Fund, Ltd.

along with the Official Committee of Unsecured Creditors and
Deutsche Bank Trust Company Americas, as Indenture Trustee,
object to the Debtors' request for an expedited hearing on the
Isle of Capri Employment Application.

On behalf of the Put Parties, Allan S. Brilliant, Esq., at
Goodwin Procter LLP, in New York, contends that the Put Parties
did not have enough time to review the business terms of the Isle
of Capri Agreement because the Debtors made it available on
December 31, 2009, the eve of a holiday weekend.

Representing the Committee, Joel D. Applebaum, Esq., at Clark
Hill PLC, in Birmingham, Michigan, notes that the Debtors'
request to conduct the hearing on January 11, 2010, is a mere one
day prior to the Confirmation Hearing.  He tells the Court that
although the Noteholder Plan Proponents do not object to the
Application being heard on shortened notice, the Proponents
believe the Application will be more properly heard after the
conclusion of the Confirmation Hearing.

The Objecting Parties argue that there is no extant emergency
because the Debtors have replaced Randall Fine as their chief
executive officer by appointing Clifford Vallier, their current
chief financial officer, effective January 1, 2010.

For these reasons, the Objecting Parties ask the Court not to
conduct the hearing before January 12.

The City of Detroit subsequently submitted its concurrence to the
Objecting Parties' objection.

The Court thereafter ruled that a hearing on the Application will
be held on January 12, 2010.

                      About Greektown Casino

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

The Company and seven of its affiliates filed for Chapter 11
protection on May 29, 2008 (Bankr. E.D. Mich. Lead Case No.
08-53104).  Daniel J. Weiner, Esq., Michael E. Baum, Esq., and
Ryan D. Heilman, Esq., at Schafer and Weiner PLLC, represent the
Debtors in their restructuring efforts.  Judy B. Calton, Esq., at
Honigman Miller Schwartz and Cohn LLP, represents the Debtors as
their special counsel.  The Debtors chose Conway MacKenzie &
Dunleavy as their financial advisor, and Kurtzman Carson
Consultants LLC as claims, noticing, and balloting agent.  Clark
Hill PLC serves as counsel to the Official Committee of Unsecured
Creditors.

Greektown Holdings listed assets and debts of $100 million to
$500 million in its bankruptcy petition.

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


HAEMACURE CORP: Seeks Creditor Protection in U.S. and Canada
------------------------------------------------------------
Haemacure Corporation has filed a notice of intention to make a
proposal to its creditors under the Bankruptcy and Insolvency Act
(Canada) and that its wholly owned U.S. subsidiary sought court
protection under Chapter 11 in the United States.  The filings
were made after the close of markets on Friday, January 8, 2010.

Haemacure's Board of Directors authorized these measures in light
of Haemacure's financial condition and its inability to raise
financing. The Board of Directors considers these measures to be
in the best interests of Haemacure, its shareholders and
creditors. The Board made this decision after thorough
consultation with its professional advisors, both in Canada and
the United States, and extensive consideration of all possible
alternatives. The terms and conditions of the proposal to the
creditors have not yet been determined by Haemacure.

Angiotech Pharmaceuticals, Inc., Haemacure's secured creditor, has
agreed to provide financing to Haemacure in order to fund the
insolvency proceedings and Haemacure's day-to-day operations, up
to a maximum amount of US$1 million. The funds will be disbursed
in accordance with a schedule agreed to by Haemacure and
Angiotech.

Haemacure also announced that Marc Paquin has resigned as a
director of Haemacure and no longer holds any position with
Haemacure or its wholly-owned U.S. subsidiary. Mr. Paquin was
previously President of Haemacure and a director and officer of
the subsidiary company.

                         Shares Suspended

Haemacure Corporation said it has received notice from the Toronto
Stock Exchange that its shares have been suspended from trading on
the TSX, effective immediately.  Haemacure previously announced
that its shares will be delisted from the TSX at the close of the
market on February 5, 2010, for failure by Haemacure to meet the
continued listing requirements of the TSX.

Haemacure Corporation (TSX:HAE) -- http://www.haemacure.com/-- is
a specialty bio-therapeutics company developing high-value human
biological adhesives, hemostats and therapeutic proteins for
commercialization.  Haemacure's research and development effort is
driven by its proprietary, high-yield plasma protein extraction
technology to develop next-generation products, including surgical
hemostats.


HAIGHTS CROSS: Files for Chapter 11 with Prepackaged Plan
---------------------------------------------------------
Haights Cross Communications, Inc. announced January 11 that in
response to the broad support received for its previously
announced prepackaged plan of reorganization from holders of the
obligations under that certain Credit Agreement, dated as of
August 15, 2008, as amended, by and among Haights Cross Operating
Company, as borrower, the guarantors party thereto, including HCC,
and the administrative agent thereto on behalf of the lenders
party thereto from time to time, holders of HCOC's 11.75% Senior
Notes due 2011 and holders of HCC's 12.5% Senior Discount Notes
due 2011, the Company has elected to commence voluntary
proceedings under Chapter 11 of the U.S. Bankruptcy Code to seek
confirmation of the Plan.

Of those voting, 100% in dollar amount and 100% in number of
holders of the obligations under the Credit Agreement, 100% in
dollar amount and 100% in number of holders of the Senior Notes
and approximately 90% in dollar amount and 90% in number of
holders of the Senior Discount Notes voted to approve the Plan.

"Over the last several months, we have worked closely with our
stakeholders to develop and now implement our plan to position
Haights to meet the challenges of our industry.  We plan to
continue operations as normal through the Chapter 11 process,
which we expect to conclude within 60 days."

"T[he] action is the next step in the process to significantly
reduce our debt and create a new capital structure that will
better enable us to invest in our business and build on our
industry leadership," said Paul J. Crecca, HCC's President and
Chief Executive Officer, in the Jan. 11 statement.  "Over the last
several months, we have worked closely with our stakeholders to
develop and now implement our plan to position Haights to meet the
challenges of our industry.  We plan to continue operations as
normal through the Chapter 11 process, which we expect to conclude
within 60 days."

On September 3, 2009 the Company entered into a plan support
agreement with all of the lenders under the Credit Agreement and
holders of approximately 80% in principal amount of the Senior
Notes on the terms of a consensual financial restructuring that
would reduce the Company's debt obligations by approximately $200
million (to approximately $180 million in the aggregate) and
extend the maturity of the Company's debt until no earlier than
three years from the effective date of the Plan. The Plan
otherwise leaves unimpaired the Company's general unsecured
claims, including those of trade creditors, which would be paid in
full.

A copy of the Plan is available for free at:

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

A copy of the Disclosure Statement is available for free at:

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

                   About Haights Cross Communications

Founded in 1997 and based in White Plains, NY, Haights Cross
Communications is a premier educational and library publisher
dedicated to creating the finest books, audio products,
periodicals, software and online services, serving the following
markets: K-12 supplemental education, public and school libraries,
and consumers. Haights Cross companies include: Triumph Learning,
Buckle Down Publishing and Options Publishing, and Recorded Books.

Haights had total assets of $232,388,000 against total debts of
$432,741,000 as of June 30, 2009.

On January 11, 2010, Haights Cross Communications, Inc., and four
subsidiary companies filed petitions seeking relief under chapter
11 of the United States Bankruptcy Code (Bankr. D. Del. Case No.
10-10062).  The Debtors' cases have been assigned to Judge Brendan
Linehan Shannon.  Attorneys at Brown Rudnick serve as counsel.
Attorneys at Richards, Layton & Finger, P.A., has been engaged as
co-counsel.  Houlihan Lokey is the financial advisor.  Epiq
Bankruptcy Solutions serves as claims and notice agent.


HAIGHTS CROSS: Case Summary & 30 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Haights Cross Communications, Inc.
        10 New King Street, Suite 102
        White Plains, NY

Bankruptcy Case No.: 10-10062

Debtor-affiliates filing separate Chapter 11 petition:

        Entity                                     Case No.
        ------                                     --------
Haights Cross Operating Company                    10-10063
Triumph Learning, LLC                              10-10064
Recorded Books, LLC                                10-10065
SNEP, LLC                                          10-10066
(formerly named Sundance/NewBridge
Educational Publishing, LLC)

Chapter 11 Petition Date: January 11, 2010

Court: United States Bankruptcy Court
       District of Delaware

Judge: Brendan Linehan Shannon

Debtors' Counsel: Brown Rudnick, Esq.
                  One Financial Center
                  Boston, MA 02111
                  Tel: (617) 856-8200
                  Fax: (617) 856-8201
                  Email: http://www.brownrudnick.com/
                  Attn: Steven D. Pohl, Esq.
                        Tally Wiener, Esq.

Debtors'
Co-Counsel:       Richards, Layton & Finger, P.A.
                  One Rodney Square
                  920 North King Street
                  Wilmington, DE 19801
                  http://www.rlf.com/index.cfm
                  Phone: (302) 651-7700
                  Fax: (302) 651-7701
                  Attn: Daniel J. DeFranceschi, Esq
                        Paul N. Heath, Esq
                        Christopher M. Samis, Esq
Debtors'
Fin'l Advisors:   Houlihan Lokey
                  245 Park Avenue
                  New York, NY 10167
                  Wilmington, DE 19801
                  http://www.hlhz.com/
                  Phone: (212) 497-4100
                  Fax: (212) 661-3070
                  Attn: William H. Hardie, III
                        John-Paul Hanson
                        Dimitar Voukadinov

Total Assets: $232,388,000 as of June 30, 2009

Total Debts: $432,741,000 as of June 30, 2009

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

         http://bankrupt.com/misc/deb10-10062.pdf

The petition was signed by Paul J. Crecca, vice president of the
Company.


HARRAH'S ENT: Pennsylvania Table Game OK Has Neg. Credit Effects
----------------------------------------------------------------
Pennsylvania legalized table games like poker and blackjack, a
negative development for the credit profiles of already-suffering
casino operators in nearby Atlantic City.

For Atlantic City casino operators Harrah's Entertainment, Inc.
(Caa3, negative) and Trump Entertainment Resorts Holdings, LP
(unrated and in bankruptcy), the approval of table games in
Pennsylvania carries negative credit implications.  This is
because these companies -- already suffering from weak gaming
demand and increased competition from slots in Pennsylvania -- are
bound to see further declines in gaming revenues owing to the new
table game legislation.

Atlantic City generates over $1 billion a year from table games,
which accounts for 30% of its total annual gaming revenue.  This
represents a large potential market for Pennsylvania, particularly
for casinos located in the eastern part of the state and in
relatively easy driving distance to Atlantic City.

For casino operators like Las Vegas Sands (B3, negative), Mohegan
Tribal Gaming Authority (B3, stable), and Penn National Gaming,
Inc (Ba2, negative) -- each of which owns a casino in eastern
Pennsylvania -- this is a credit-positive event because of the
additional gaming revenue that will likely come to the state from
Atlantic City.

However, Moody's don't believe that this new legislation, though
positive for Pennsylvania gaming revenues, will be enough to
positively affect the ratings of the companies that own eastern
Pennsylvania gaming facilities.  This is because many of them are
rated B3 or lower and/or generate a majority of their earnings
from casinos outside of Pennsylvania.  Likewise, Moody's don't
think this development will affect the already low ratings of
Harrah's Entertainment, Inc., although it could limit the
company's ability to improve its rating over the longer-term given
it large concentration in Atlantic City.

But beyond the near-term impact of the approval of table games in
Pennsylvania, the move is a symptom of the bigger problem plaguing
the gaming business, namely that there are more states and more
facilities scrapping over an ultimately finite -- and possibly
permanently smaller -- pie.

So while the new legislation will give Pennsylvania casinos a
boost in the short run and will likely hurt gaming revenues in
Atlantic City, it opens up a new front in the battle among states
to make gaming attractions more appealing.  Neighboring
jurisdictions might boost promotional activity and further expand
their own gaming offerings, which could end up costing
Pennsylvania casinos more to stay competitive.  But Moody's doubt
any new costs of doing business will undermine the economics of
allowing table games in the state.


HARTMARX CORP: PBGC Protects Underfunded Pension Plan
-----------------------------------------------------
The Pension Benefit Guaranty Corp. assumed responsibility for the
underfunded pension plan covering nearly 13,000 former workers and
retirees of Hartmarx Corp., a clothing manufacturer based in
Chicago, Illinois.

The PBGC stepped in because the plan faced abandonment after the
company, in bankruptcy since Jan. 23, 2009, sold all of its assets
to purchasers who did not assume responsibility for financing or
administering the plan.

Hartmarx retirees will continue to receive their monthly benefit
checks without interruption, and other workers will receive their
pensions when they are eligible to retire.

The Hartmarx Retirement Income Plan is 47% funded, with assets of
$142.8 million to cover $306.6 million in benefit liabilities,
according to PBGC estimates.  The agency expects to be responsible
for $158.5 million of the $163.8 million shortfall.

The plan ended on Aug. 7, 2009.  The PBGC will take over the
assets and use insurance funds to pay guaranteed benefits earned
under the plan.

Within the next several weeks, the PBGC will send notification
letters to all participants in the plan. Under provisions of the
Pension Protection Act of 2006, the maximum guaranteed pension the
PBGC can pay is determined by the legal limits in force on the
date of the plan sponsor's bankruptcy. Therefore, participants in
the plan are subject to the limits in effect on Jan. 23, 2009,
which set the maximum guaranteed amount of $54,000 a year for a
65-year-old. The agency became trustee of the plan on Dec. 28,
2009.

The maximum guaranteed amount is lower for those who retire
earlier or elect survivor benefits. In addition, certain early
retirement subsidies and benefit increases made within the past
five years may not be fully guaranteed.

Workers and retirees with questions may consult the PBGC Web site,
http://www.pbgc.gov/or call toll-free at 1-800-400-7242.  For
TTY/TDD users, call the federal relay service toll-free at 1-800-
877-8339 and ask for 800-400-7242.

Hartmarx retirees who draw a benefit from the PBGC may be eligible
for the federal Health Coverage Tax Credit.  Further information
may be found on the PBGC Web site at http://www.pbgc.gov/workers-
retirees/benefits-information/content/page13692.html.

Assumption of the plan's unfunded liabilities will have no
significant effect on the PBGC's financial statements because an
estimate of the claim was previously included in the agency's
fiscal year 2009 financial statements, in accordance with
generally accepted accounting principles.

The PBGC is a federal corporation created under the Employee
Retirement Income Security Act of 1974. It currently guarantees
payment of basic pension benefits earned by 44 million American
workers and retirees participating in over 29,000 private-sector
defined benefit pension plans. The agency receives no funds from
general tax revenues. Operations are financed largely by insurance
premiums paid by companies that sponsor pension plans and by
investment returns.

                      About Hartmarx Corp.

Based in Chicago, Illinois, Hartmarx Corporation --
http://www.hartmarx.com/-- produced and marketed business,
casual, and golf apparel under its own brands, which included Hart
Schaffner Marx, Hickey-Freeman, Palm Beach and Coppley among
others.  A drop off in demand for tailored clothing led to poor
sales.  The company and 51 affiliates sought Chapter 11 bankruptcy
protection on January 23, 2009 (Bankr. N.D. Ill. Lead Case No.
09-02046).  George N. Panagakis, Esq., Felicia Gerber Perlman,
Esq., and Eric J. Howe, Esq., at Skadden, Arps, Slate, Meagher &
Flom LLP, represent the Debtors in their restructuring efforts.
When the Debtors filed for bankruptcy, they listed $483,108,000 in
total assets and $261,220,000 in total debts as of August 31,
2008.


HAYES LEMMERZ: Appeals Ace Win in Insurance Spat
------------------------------------------------
Law360 reports that Hayes Lemmerz International Inc., which was
recently approved to exit bankruptcy protection, has appealed a
ruling that Ace American Insurance Co. is not obligated to cover
legal costs associated with the death of a factory worker from an
explosion.

Originally founded in 1908, Hayes Lemmerz International, Inc.
(NasdaqGM: HAYZ) is a worldwide producer of aluminum and steel
wheels for passenger cars and light trucks and of steel wheels for
commercial trucks and trailers.  The Company is also a supplier of
automotive powertrain components.  The Company has global
operations with 23 facilities, including business, sales offices
and manufacturing facilities, located in 12 countries around the
world.  The Company sells products to every major North American,
Asian and European manufacturer of passenger cars and light trucks
and to commercial highway vehicle customers throughout the world.

The Company and certain affiliates filed for bankruptcy on
May 11, 2009 (Bankr. D. Del. Case No. 09-11655) after reaching
agreements with lenders holding a majority of the Company's
secured debt.  The Company's principal bankruptcy attorneys are
Skadden, Arps, Slate, Meagher & Flom, LLP.  Lazard Freres & Co.,
LLC, serves as the Company's financial advisors.  AlixPartners,
LLP, serves as the Company's restructuring advisors.  The Garden
City Group, Inc., serves as the Debtors' claims and notice agent.
As of January 31, 2009, the Debtors had total assets of
$1,336,600,000 and total debts of $1,405,200,000.

This is the Company's second trip to the bankruptcy court, dubbed
a Chapter 22, which was precipitated by an unprecedented slowdown
in industry demand and a tightening of credit markets.


HEALTHTRONICS INC: Moody's Withdraws 'B2' Corporate Family Rating
-----------------------------------------------------------------
Moody's Investors Service has withdrawn all of its ratings on
HealthTronics, Inc.  The ratings withdrawal follows the repayment
and termination of the company's $60 million revolver due March
2010, under its prior credit agreement.  On January 5, 2010,
HealthTronics announced it had entered into a new credit agreement
with a maturity date of December 2012.  Moody's does not rate this
new facility.

Ratings withdrawn:

* Corporate Family Rating, B2

* Probability of Default Rating, B3

* $60 million senior secured revolving credit facility due March
  2010, B1, LGD2, 27%

The rating outlook had been stable.

The last rating action was October 21, 2008, when Moody's
downgraded HealthTronics Corporate Family Rating to B2 from B1 and
changed to the outlook to stable from negative.

HealthTronics' ratings were assigned by evaluating factors Moody's
believe are relevant to the credit profile of the issuer, such as
i) the business risk and competitive position of the company
versus others within its industry, ii) the capital structure and
financial risk of the company, iii) the projected performance of
the company over the near to intermediate term, and iv)
management's track record of tolerance for risk.  These attributes
were compared against other issuers both within and outside of
HealthTronics' core industry and the company's ratings are
believed to be comparable to those other issuers of similar credit
risk.

Headquartered in Austin, Texas, HealthTronics is a leading
provider of urology services and products in the US.  The company
provides urologists with cost-effective access to lithotripters
(used in the treatment of kidney stones) and other capital
equipment as well as partnership management services.  The company
operates primarily through partnerships with urology practices in
which HealthTronics owns a minority stake.  For the twelve months
ended September 30, 2009, the company generated revenues of
approximately $180 million.


HUMAN BEAN: Reopens Coffee Shops After Col. Department Seizure
--------------------------------------------------------------
The Tribune says Human Bean coffee shops reopened last week after
the Colorado Department of Revenue seized the stores for unpaid
sales and wages taxes.  Based in Colorado, Human Bean Coffee
operates coffee shops.  It entered into Chapter 11 bankruptcy in
December 2008.


INLET SQUARE: Shuts Down 12 Cinemas as Regal Terminates Lease
-------------------------------------------------------------
According to wmbfnews.com, Inlet Squares 12 cinemas shut down on
Sunday because the mall's plans for renovations have not come to
fruition and Regal terminated the lease.

Headquartered in Irvine, California, Inlet Retail Associates, LLC,
filed for Chapter 11 protection March 20, 2009, (Bankr. Case No.:
09-02083).  Ivan N. Nossokoff, LLC, represents the Debtor in its
restructuring efforts.  The petition says that the Debtor has
assets and debts of $10 million to $50 million.


ICAHN ENTERPRISES: Moody's Affirms 'Ba3' Corporate Family Rating
----------------------------------------------------------------
Moody's Investors Service has affirmed the Ba3 Corporate Family
Rating of Icahn Enterprises L.P. and assigned Ba3 ratings to
$2 billion of new senior unsecured notes being issued by the
company.  The new debt is being offered in two tranches due in
2016 and 2018.  The outlook on the ratings remains negative.

Moody's stated that the proceeds from the new issue will refinance
approximately $1.3 billion of existing debt due in 2012 and 2013.
The remaining balance of the proceeds will be added to the
company's existing liquidity, which will result in a holding
company pro forma cash of about $1.7 billion.  Moody's Vice
President/Senior Credit Officer Matthew Noll commented that
continuing the negative outlook "reflects the volatility of
earnings in the company's investment management segment and the
company's challenges for realizing gains on sales of corporate
assets in a weakened economic environment."

Icahn Enterprises' is a publically traded master limited
partnership majority owned by activist investor Carl C. Icahn, age
73.  The business consists of an investment management segment
through which Mr. Icahn conducts a significant portion of his
activist investing and six other independent and unrelated
operating segments, including segments that will be added through
the company's recently announced acquisitions of Viskase
Companies, Inc. and American Railcar Industries.  The primary
business strategy of Icahn Enterprises is generating returns for
investors in its activist hedge funds and direct equity investing
in companies to unlock value.  The core source of the company's
debt service capacity comes from the sales of stakes in the
subsidiaries and earning fees and investment profits from the
funds within the investment management segment.  Moody's Ba3
rating weighs the risks and volatility of activist investing and
the potential need to support the company's subsidiaries.  In
Moody's view, Icahn Enterprises presently faces a) an elevated
dependency on debt to maintain the standby liquidity typically
needed to execute activist investing strategies b) greater
uncertainty as to the timing of corporate asset sales and c)
diminished earnings capacity at its subsidiaries.  Over the near
term, Moody's sees little chance for Icahn Enterprises executing a
strong sale on any of the businesses presently within the
operating segments.

With regard to the credit impact of the $2 billion of new notes
and the acquisition of majority stakes of Viskase and American
Railcar (together valued at $240 million), Noll added that while
the market value of equity stakes in subsidiaries to total debt
issued by Icahn Enterprises will be a respectable 2.5x, "key asset
coverage ratios are relatively unchanged through the company's
transactions." The analyst added that while the company avoids a
near term need to liquidate any of its stakes at depressed values
to pay down maturing debt, the earnings capacity of the firm is
effectively unchanged.

Moody's added that Icahn Enterprises' succession planning remains
an important rating consideration due to the company's dependency
on Mr. Icahn to execute strategies and trigger change as an
activist investment firm.  The company's staffing level could also
become more of a consideration given the demands of overseeing
soon to be six other unrelated business segments.

Moody's noted that this criteria could lead to a rating downgrade:
deteriorating valuations or credit strength of the operating
segments, liquidity at the holding company dropping to below $1.25
billion, or continued declines in fee paying assets under
management to under 25% of total AUM.

This criteria could return the rating to a stable outlook or
potentially lift the rating: earnings improvements lead to a
better potential for up streaming dividends from subsidiaries, the
company successfully executes a monetization of one of its
subsidiary investments, the company moves to improve its franchise
value by increasing the mix of fee paying AUM and/or public
ownership, and governance issues regarding succession are more
clearly addressed.

This rating was affirmed with a negative outlook:

* Icahn Enterprises L.P.: corporate family rating at Ba3

These ratings were assigned with a negative outlook:

* Icahn Enterprises L.P.: senior unsecured rating at Ba3

The last rating action on Icahn Enterprises was on July 9, 2008,
when Moody's downgraded the company's CFR to Ba3 from Ba2.

Icahn Enterprises L.P. is a publicly traded partnership that is
92% owned by Carl C. Icahn.  The company operates multiple
business segment including investment management, metals,
automotive, real estate, and home fashion.  The company's
investment management business had $5.7 billion in assets under
management as of September 30, 2009.


INTERNATIONAL ALUMINUM: Sec. 341 Creditors Meeting Set for Feb. 16
------------------------------------------------------------------
The U.S. Trustee will convene a meeting of International Aluminum
Corporation, et al.'s creditors on February 16, 2010, at 3:00 p.m.
at J. Caleb Boggs Federal Building, Room 5209, 844 King Street
Wilmington, DE, 19801.

This is the first meeting of creditors required under Section
341(a) of the U.S. Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
Meeting of Creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

Monterey Park, California-based International Aluminum Corporation
is an integrated building products manufacturer of diversified
lines of quality aluminum and vinyl products.

International Aluminum filed for Chapter 11 bankruptcy protection
on January 4, 2010 (Bankr. D. Delaware Case No. 10-10003).  The
Company's affiliates, including IAC Holding Co. and United States
Aluminum Corporation, also filed Chapter 11 bankruptcy petitions.
John Henry Knight, Esq., and L. Katherine Good, Esq., at Richards,
Layton & Finger, P.A., assist the Debtors in their restructuring
efforts.  Weil, Gotshal & Manges LLP is the Debtor's co-counsel.
Moelis & Company is the Debtor's financial advisor.  Kurtzman
Carson Consultants LLC is the Debtor's claims agent.
International Aluminum listed $198 million in assets and
$217 million in liabilities as of November 30, 2009.


JOURNAL REGISTER: Names John Paton as Chief Executive Officer
-------------------------------------------------------------
Journal Register Co. selected John Paton from impreMedia LLC of
Philadelphia as its chief executive officer, replacing Robert
Conway, principal of Conway Del Genio Gries & Co. LLC, that served
as interim CEO and chief restructuring officer since March 2009,
according to the Business Review.

                      About Journal Register

Yardley, Pennsylvania-based Journal Register Company (PINKSHEETS:
JRCO) -- http://www.JournalRegister.com/-- owns 20 daily
newspapers, more than 180 non-daily publications and operates over
200 individual Web sites that are affiliated with the Company's
daily newspapers, non-daily publications and its network of
employment Web sites.  All of the Company's operations are
strategically clustered in six geographic areas: Greater
Philadelphia; Michigan; Connecticut; Greater Cleveland; and the
Capital-Saratoga and Mid-Hudson regions of New York.  The Company
also owns JobsInTheUS, a network of 20 employment Web sites.

Journal Register, along with its affiliates, filed for Chapter 11
bankruptcy protection on February 21, 2009 (Bankr. S.D.N.Y. Case
No. 09-10769).  Marc Abrams, Esq., Rachel C. Strickland, Esq.,
Shaunna D. Jones, Esq., and Jennifer J. Hardy, Esq., at Willkie
Farr & Gallagher LLP, represent the Debtors as counsel.  William
M. Silverman, Esq., Scott L. Hazan, Esq., and Jeanette A. Barrow-
Bosshart, Esq., at Otterbourg, Steindler, Houston & Rosen, P.C.,
represent the official committee of unsecured creditors as
counsel.  Conway, Del Genio, Gries & Co., LLC, provides
restructuring management services to the Debtors.  Robert P.
Conway is the Company's chief restructuring officer.  At the time
of the filing, the Company listed $100 million to $500 million in
total assets and $500 million to $1 billion in total debts.


KPT ENTERPRISES: Asks for Court Approval to Use Cash Collateral
---------------------------------------------------------------
KPT Enterprises, LLC, sought and obtained authorization from the
U.S. Bankruptcy Court for the Eastern District of Tennessee to use
their lenders' collateral on an interim basis.

Dean B. Farmer, Esq., at Hodges, Doughty & Carson PLLC, the
proposed attorney for the Debtor, explains that the Debtor need to
use cash collateral to fund its Chapter 11 case, pay suppliers and
other parties.

The Debtor leases the equipment to Morristown Driver's Service,
Inc.  In exchange for leasing the vehicles, MDS conducts all the
maintenance on the equipment, pays the insurance and remits
monthly payments to the Debtor.

The Debtor proposes to continue to use the tractors and trailers
leased to MDS and the cash proceeds thereof and offers to provide
adequate protection to the secured parties or purchase lessors.
Insurance will be maintained on the equipment for the valuation
currently at the level of $6,065,000.  Insurance is generally
reduced by an estimated valuation of approximately $10,000 per
month based on in-house evaluation.   Adequate protection payments
will be made in the amount of $20,000, which is in excess of two
times the amount that the tractors and trailers are diminished in
value, providing a continuing adequate protection payment to
creditors.  The Debtor proposes to increase payments in the same
proportion to the extent that MDS increases rental payments to the
Debtor.  A replacement lien on the collateral and the equity
cushion to the same extent, priority, and validity on the pre-
petition lien.

The Debtor proposes to make a minimum adequate protection payment
to Secured Creditors based upon the outstanding balances owed each
of the Creditors for January 2010:

       Andrew Johnson Bank                 $3,716
       Volvo Financial Services            $1,629
       GE Commercial Finance                 $669
       Central Leasing                     $7,233
       Commercial Credit Group, Inc.       $3,003

The final hearing will be held on February 16, 2010, at 9:00 a.m.

The Debtor will use the collateral pursuant to a weekly budget, a
copy of which is available for free at:

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

Commercial Credit Group Inc., which is owed $675,000 by the
Debtor, objected the Debtor's request to use cash collateral due
to the lack of adequate notice of the hearing on the Debtor's
motion.  According to CCG, it received its first notice of the
Debtor's filing and the Debtor's motion on the afternoon of
December 31, 2009, as well as the notice of hearing on the motion
set for January 4, 2010.  CCG said that the timing of notice and
hearing couldn't be better calculated to avoid participation of
affected creditors.

CCG also objected to the offer of adequacy of the adequate
protection, disputing the Debtor's valuations and alleged
depreciation of its collateral.  The Debtor, CCG said, submitted
no evidence supporting its contentions.  "The depreciation rate
asserted by Debtor appears to be entirely unsupported fiction,"
CCG stated.

CCG asked that the Debtor account for all proceeds of its
collateral, and discontinue any post-petition use of same, pending
meaningful notice and opportunity to be heard by CCG.  CCG
requested that the Court permit that its motion be heard
telephonically.

The Court denied CCG's motion.

CCG is represented by Robert G. Qulia.

Morristown, Tennessee-based KPT Enterprises, LLC, owns certain
over-the-road tractors and trailer rigs which it utilizes in
hauling freight on a commercial basis.  The Company filed for
Chapter 11 bankruptcy protection on December 30, 2009 (Bankr. E.D.
Tenn. Case No. 09-53521).  Dean B. Farmer, Esq., at Hodges,
Doughty & Carson PLLC, assists the Company in its restructuring
effort.  The Company listed $10,000,001 to $50,000,000 in assets
and $1,000,001 to $10,000,000 in liabilities.


KPT ENTERPRISES: Files Schedules of Assets & Liabilities
--------------------------------------------------------
KPT Enterprises, LLC, filed with the U.S. Bankruptcy Court for the
Eastern District of Tennessee its schedules of assets and
liabilities, disclosing:

  Name of Schedule              Assets            Liabilities
  ----------------              ------            -----------
A. Real Property               $3,500,000
B. Personal Property           $7,867,313
C. Property Claimed as
   Exempt
D. Creditors Holding
   Secured Claims                                  $5,247,319
E. Creditors Holding
   Unsecured Priority
   Claims                                                  $0
F. Creditors Holding
   Unsecured Non-priority
   Claims                                                  $0
                             -------------        -----------
TOTAL                          $11,367,313         $5,247,319

Morristown, Tennessee-based KPT Enterprises, LLC, owns certain
over-the-road tractors and trailer rigs which it utilizes in
hauling freight on a commercial basis.  The Company filed for
Chapter 11 bankruptcy protection on December 30, 2009 (Bankr. E.D.
Tenn. Case No. 09-53521).  Dean B. Farmer, Esq., at Hodges,
Doughty & Carson PLLC, assists the Company in its restructuring
effort.  The Company listed $10,000,001 to $50,000,000 in assets
and $1,000,001 to $10,000,000 in liabilities.


KPT ENTERPRISES: Sec. 341 Creditors Meeting Set for Feb. 1
----------------------------------------------------------
The U.S. Trustee for Region 8 will convene a meeting of KPT
Enterprises, LLC's creditors on February 1, 2010, at 11:00 a.m. at
James H. Quillen U. S. Courthouse, Room 111, 220 West Depot
Street, Greeneville, TN 37743.

This is the first meeting of creditors required under Section
341(a) of the U.S. Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
Meeting of Creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

Morristown, Tennessee-based KPT Enterprises, LLC, owns certain
over-the-road tractors and trailer rigs which it utilizes in
hauling freight on a commercial basis.  The Company filed for
Chapter 11 bankruptcy protection on December 30, 2009 (Bankr. E.D.
Tenn. Case No. 09-53521).  Dean B. Farmer, Esq., at Hodges,
Doughty & Carson PLLC, assists the Company in its restructuring
effort.  The Company listed $10,000,001 to $50,000,000 in assets
and $1,000,001 to $10,000,000 in liabilities.


KPT ENTERPRISES: Taps Hodges Doughty as Bankruptcy Counsel
----------------------------------------------------------
KPT Enterprises, LLC, has asked for permission from the U.S.
Bankruptcy Court for the Eastern District of Tennessee to employ
Dean B. Farmer and the firm of Hodges, Doughty & Carson, PLLC, as

Hodges Doughty will:

     (a) prepare on its behalf the statements and schedules, Plan
         of Reorganization and Disclosure Statement and all other
         related pleadings required in the above proceeding,
         including but not limited to, employment of professionals
         and operation of the Debtor-In-Possession's business;

     (b) represent the Debtor in filing all pleadings and court
         appearances in the U.S. Bankruptcy Court for the Eastern
         District of Tennessee as well as in other courts that may
         be required in this case, including a Plan and Disclosure
         Statement; and

     (c) assist in resolution of issues with secured creditors and
         unsecured creditors.

Hodges Doughty will be paid based on the hourly rates of its
personnel:

          Dean B. Farmer            $270
          Other Partners            $225
          Associates                $180
          Paralegal Assistants       $90

Mr. Farmer assures the Court that Hodges Doughty is
"disinterested" as that term is defined in Section 101(14) of the
Bankruptcy Code.

Morristown, Tennessee-based KPT Enterprises, LLC, owns certain
over-the-road tractors and trailer rigs which it utilizes in
hauling freight on a commercial basis.  The Company filed for
Chapter 11 bankruptcy protection on December 30, 2009 (Bankr. E.D.
Tenn. Case No. 09-53521).  Dean B. Farmer, Esq., at Hodges,
Doughty & Carson PLLC, assists the Company in its restructuring
effort.  The Company listed $10,000,001 to $50,000,000 in assets
and $1,000,001 to $10,000,000 in liabilities.


LAS VEGAS SANDS: Penn. Table Game OK Has Pos. Credit Effects
------------------------------------------------------------
Pennsylvania legalized table games like poker and blackjack, a
negative development for the credit profiles of already-suffering
casino operators in nearby Atlantic City.

For Atlantic City casino operators Harrah's Entertainment, Inc.
(Caa3, negative) and Trump Entertainment Resorts Holdings, LP
(unrated and in bankruptcy), the approval of table games in
Pennsylvania carries negative credit implications.  This is
because these companies -- already suffering from weak gaming
demand and increased competition from slots in Pennsylvania -- are
bound to see further declines in gaming revenues owing to the new
table game legislation.

Atlantic City generates over $1 billion a year from table games,
which accounts for 30% of its total annual gaming revenue.  This
represents a large potential market for Pennsylvania, particularly
for casinos located in the eastern part of the state and in
relatively easy driving distance to Atlantic City.

For casino operators like Las Vegas Sands (B3, negative), Mohegan
Tribal Gaming Authority (B3, stable), and Penn National Gaming,
Inc (Ba2, negative) -- each of which owns a casino in eastern
Pennsylvania -- this is a credit-positive event because of the
additional gaming revenue that will likely come to the state from
Atlantic City.

However, Moody's don't believe that this new legislation, though
positive for Pennsylvania gaming revenues, will be enough to
positively affect the ratings of the companies that own eastern
Pennsylvania gaming facilities.  This is because many of them are
rated B3 or lower and/or generate a majority of their earnings
from casinos outside of Pennsylvania.  Likewise, Moody's don't
think this development will affect the already low ratings of
Harrah's Entertainment, Inc., although it could limit the
company's ability to improve its rating over the longer-term given
it large concentration in Atlantic City.

But beyond the near-term impact of the approval of table games in
Pennsylvania, the move is a symptom of the bigger problem plaguing
the gaming business, namely that there are more states and more
facilities scrapping over an ultimately finite -- and possibly
permanently smaller -- pie.

So while the new legislation will give Pennsylvania casinos a
boost in the short run and will likely hurt gaming revenues in
Atlantic City, it opens up a new front in the battle among states
to make gaming attractions more appealing.  Neighboring
jurisdictions might boost promotional activity and further expand
their own gaming offerings, which could end up costing
Pennsylvania casinos more to stay competitive.  But Moody's doubt
any new costs of doing business will undermine the economics of
allowing table games in the state.


LEHMAN BROTHERS: Pickens' BP Capital Sells $42MM of Claims to RBS
-----------------------------------------------------------------
Two people familiar with the matter told Bloomberg News last week
that billionaire energy investor T. Boone Pickens sold $42 million
of claims he held against Lehman Brothers Holdings Inc. to Royal
Bank of Scotland Plc.

The sources told Bloomberg the claims were held by Mr. Pickens,
81, and his BP Capital LLC.  According to Bloomberg, the sources
asked not to be identified because the transaction is private.
Bloomberg says Jay Rosser, a spokesman for BP Capital based in
Dallas, confirmed the claims had been sold.

Bloomberg notes that creditors have made about $830 billion in
claims against Lehman.

                             About RBS

The Royal Bank of Scotland Group plc (NYSE:RBS) --
http://www.rbs.com/-- is a holding company of The Royal Bank of
Scotland plc (Royal Bank) and National Westminster Bank Plc
(NatWest), which are United Kingdom-based clearing banks.  The
company's activities are organized in six business divisions:
Corporate Markets (comprising Global Banking and Markets and
United Kingdom Corporate Banking), Retail Markets (comprising
Retail and Wealth Management), Ulster Bank, Citizens, RBS
Insurance and Manufacturing.  On October 17, 2007, RFS Holdings
B.V. (RFS Holdings), a company jointly owned by RBS, Fortis N.V.,
Fortis SA/NV and Banco Santander S.A. (the Consortium Banks) and
controlled by RBS, completed the acquisition of ABN AMRO Holding
N.V. (ABN AMRO).  In July 2008, the company disposed its entire
interest in Global Voice Group Ltd.

                           *     *     *

As reported by the Troubled Company Reporter-Europe on Dec. 22,
2009, Fitch Ratings upgraded The Royal Bank of Scotland Group's
(RBS Group) and The Royal Bank of Scotland's Individual Ratings to
'D/E' from 'E' and removed the Rating Watch Positive.  The upgrade
of the Individual Ratings reflects improvements in the group's
capital combined with some progress in restructuring the balance
sheet.

                       About Lehman Brothers

Lehman Brothers Holdings Inc. -- http://www.lehman.com/-- was the
fourth largest investment bank in the United States.  For more
than 150 years, Lehman Brothers has been a leader in the global
financial markets by serving the financial needs of corporations,
governmental units, institutional clients and individuals
worldwide.

Lehman Brothers filed for Chapter 11 bankruptcy September 15, 2008
(Bankr. S.D.N.Y. Case No. 08-13555).  Lehman's bankruptcy petition
listed US$639 billion in assets and US$613 billion in debts,
effectively making the firm's bankruptcy filing the largest in
U.S. history.  Several other affiliates followed thereafter.

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

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

The Bankruptcy Court has approved Barclays Bank Plc's purchase of
Lehman Brothers' North American investment banking and capital
markets operations and supporting infrastructure for
US$1.75 billion.  Nomura Holdings Inc., the largest brokerage
house in Japan, purchased LBHI's operations in Europe for US$2
plus the retention of most of employees.  Nomura also
bought Lehman's operations in the Asia Pacific for US$225 million.

               International Operations Collapse

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

Lehman Brothers Japan Inc. and Lehman Brothers Holdings Japan Inc.
filed for bankruptcy in the Tokyo District Court on September 16.
Lehman Brothers Japan Inc. reported about JPY3.4 trillion
(US$33 billion) in liabilities in its petition.

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


LENOX GROUP: Liquidating Plan Declared Effective
------------------------------------------------
BankruptcyData reports that Lenox Group's Plan of Liquidation is
now effective, and the Company emerged from Chapter 11 protection.

The Court confirmed the Plan on Dec. 16, 2009.  The Plan provides
for the appointment of a Plan administrator to distribute the
Debtors' cash and all other remaining property of the Debtors,
including a tax refund receivable.  The Plan also provides for an
approximate recovery to holders of allowed general unsecured
claims ranging from approximately 0.43 to 0.57%, and no recovery
for holders of equity interests.

Headquartered in Bristol, Pennsylvania, Lenox Group Inc. --
http://www.department56.com/,http://www.lenox.com/,and
http://www.dansk.com/-- including its two main operating
subsidiaries, D 56, Inc., and Lenox, Incorporated, was a leading
designer, marketer, distributor, wholesaler, manufacturer and
retailer of quality tableware, collectibles, and other giftware
products under the Lenox, Dansk, Gorham, and Department 56 brand
names.  These products are sold through department stores, large
specialty retailers, general merchandise chains, national chains
and clubs, small independent specialty retailers, and other
wholesale accounts.

The company and six of its affiliates filed for Chapter 11
protetcion on November 23, 2008 (Bankr. S.D. N.Y. Lead Case No.
08-14679).  Harvey R. Miller, Esq., and Alfredo R. Perez, Esq., at
Weil, Gotshal & Manges LLP, represent the Debtors their
restructuring efforts.  The Debtors proposed Berenson & Company as
financial advisor, Carl Marks Advisory Group LLC as consultants,
and The Garden City Group as claims and noticing agent.  The
Debtors have $264,000,000 in total assets and $238,000,000 in
total debts as of October 25, 2008.

Lenox initially agreed to sell itself to KPS Capital Partners
after a court-supervised transaction in February 2009. Clarion
Capital Partners challenged the results and became successful in
nullifying the KPS Capital/Lenox deal and a second auction was
scheduled.


LYONDELL CHEMICAL: Chemtura Wants to Join Objections to Claims
--------------------------------------------------------------
Chemtura Corporation seeks leave to file an amicus curiae brief in
the Chapter 11 cases of, and in support of the objection by,
Lyondell Chemical Company and its affiliated debtors and debtors-
in-possession to the proofs of claim filed by the United States
and the State of California in Lyondell's bankruptcy cases,
regarding the issue of whether environmental injunctive relief
obligations are dischargeable "claims" under the Bankruptcy Code.

The governmental parties assert that injunctive obligations
against Lyondell with respect to sites neither owned nor operated
by Lyondell as a Chapter 11 Debtor are not "claims" as defined in
the Bankruptcy Code, but rather will survive and can continue to
be enforced against Lyondell post-emergence.

Lyondell's Objection argues that the environmental obligations at
non-owned sites are dischargeable claims under the Bankruptcy
Code, M. Natasha Labovitz, Esq., at Kirkland & Ellis LLP, in New
York, relates.

According to Ms. Labovitz, Chemtura seek leave to file an amicus
curiae brief in the Lyondell cases because:

  (a) Chemtura and its creditors have a significant stake in the
      outcome of the matter.  Like Lyondell, Chemtura faces
      potentially significant environmental liabilities at
      numerous sites that are not currently part of Chemtura's
      bankruptcy estate, which arose largely as a result of the
      lengthy industrial history of Chemtura's predecessors.

      The government's position, if upheld, will cause a
      substantial erosion of value for Chemtura and its
      creditors, and will jeopardize Chemtura's ability to
      secure approval of a plan of reorganization and emerge
      from bankruptcy expeditiously.

  (b) The legal issues raised by the Lyondell case are of
      special concern not only to Chemtura, but will have broad
      ramifications for other similarly situated debtors facing
      environmental liabilities at "legacy" sites.  Chemtura's
      interests in filing the amicus curiae brief are both
      private and public in nature.

  (c) Chemtura's brief as amicus curiae will also provide
      additional law and clarifications related to the legal
      issues presented in the Objection and will assist the
      Court in making a determination in the Lyondell case with
      respect to the Objection.

  (d) Allowing Chemtura to file an amicus curiae brief will
      neither delay the case nor result in prejudice to any
      party.

                      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: Petrologistics Wants Lift Stay for Set-Off
-------------------------------------------------------------
PetroLogistics Olefins, LLC, seeks relief from the automatic stay
so it may set off prepetition amounts owed by Debtor Equistar
Chemical, LP to PetroLogistics against the value of the
prepetition inventory owed by PetroLogistics to Equistar.

Before the Petition Date, Equistar and PetroLogistics entered into
a transportation agreement whereby PetroLogistics agreed to
transport ethylene for Equistar, and the Debtor agreed to pay for
the transportation.

PetroLogistics transferred ethylene for Equistar, aggregating
$799,185, during these periods:

    Period                      Total Fee
    ------                      ---------
    November 2008                $391,312
    December 2008                 353,116
    January 1 to 5, 2009           54,755

These fees currently remain unpaid, according to Andrew Schoulder,
Esq., at Bracewell & Giuliani LLP, in New York.

On June 29, 2009, PetroLogistics timely filed its proof of claim
for $799,185 for services performed, with the amount secured by
1,936,437 pounds of ethylene inventory.

PetroLogistics seeks to assert its set-off rights for $799,185 of
unpaid prepetition fees against the value of the 1,936,437 pounds
of ethylene that PetroLogistics owes Equistar.

                      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: Solutia & Ascend File Administrative Claims
--------------------------------------------------------------
Pursuant to Sections 365 and 503 of the Bankruptcy Code, Solutia
Inc. and Ascend Performance Materials LLC seeks the payment of
their administrative expense claims for rent and costs of
utilities and services provided to Debtor Equistar Chemicals, L.P.
since August 2009.

Equistar is a guest manufacturer at the Chocolate Bayou plant
located in Alvin, Texas, where the Debtor historically operated an
olefins facility and hydrocarbon plant.  The guest relationship
between Equistar and Solutia is governed by the Amended and
Restated Utilities and Services Agreement dated September 30,
1999, pursuant to which Equistar pays Solutia's direct and
indirect costs associated with performing a number of services on
the Debtor's behalf.

The Equistar Facility sits on a parcel of land at the Chocolate
Bayou Plan previously owned by Solutia and presently owned by
Ascend.  Solutia leases the land pursuant to a Real Estate Lease
Agreement dated October 16, 1981.

On August 3, 2009, Ascend, on behalf of itself and Solutia,
requested the Court to extend the rejection date for the
Agreements and requiring that the status quo be maintained at the
Equistar Facility under the Agreements until the time the Court
could render its decision on Solutia and Ascend's Motion to
Enforce and Clarify.

On July 6, 2009, Solutia and Ascend filed a motion to enforce and
clarify that the Court's March 13, 2009 order authorizing, among
other things, long-term idling of the Chocolate Bayou Olefins
Facility, the reduction of workforce at the facility, and the
rejection of certain executory contracts and unexpired leases
related to the facility.  Among other things, Solutia and Ascend
sought to clarify that the March 13, 2009 Order does not authorize
Equistar to abandon the Equistar Facility.

On September 9, 2009, the Court issued a bench decision on the
Motion to Enforce and Clarify.  The Court held, in relevant part
that the March 13, 2009 Order did not authorize the abandonment of
the Equistar Facility, particularly because the proposed
abandonment raised potential environmental issues.  Equistar would
have to comply with the Bankruptcy Code and Rules for notice and
opportunity to object in order for the property to be abandoned.

In response, Equistar filed a motion to abandon the property at
the Chocolate Bayou Plant.

After entry of the Status Quo Order and the Court's decision on
Solutia and Ascend's Motion to Enforce and Clarify, Equistar was
ordered to continue current operations and maintenance at its
facility at the Chocolate Bayou Plant, M. Natasha Labovitz, Esq.,
at Kirkland & Ellis LLP, in New York, relates.

Despite the Court's ruling, however, and even though Equistar has
continued to employ staff and conduct certain operations at its
facility, it has refused to pay Solutia and Ascend for either rent
or utilities and services costs for the period after the Status
Quo Order, Ms. Labovitz informs the Court.

Equistar argues that it does not need to pay for its postpetition
access to land or services provided by Solutia and Ascend because
the rejection of the relevant Agreements was effective August 4,
2009, notwithstanding the Status Quo Order, and the Status Quo
Order did not expressly require payment of rent or costs arising
under the Agreements, according to Ms. Labovitz.

These arguments are without merit because Solutia and Ascend have
been providing substantial benefits in the form of utilities,
services and the use of land, all of which are necessary for
Equistar to comply with the Status Quo Order, and comply with
environmental laws and protect its own employees, all pending a
ruling on Equistar's Abandonment Motion.

By this Motion, Solutia and Ascend seek the Court's authority to
(i) allow the rent and utilities and service fees in the aggregate
amount of $4,303,557 as administrative expenses, and (ii) compel
Equistar's immediate payment of the administrative expenses.

                         Debtors Object

As of August 4, 2009, the Debtors rejected the Agreements that are
the foundation for Solutia and Ascend's Motion.  Any claims that
arise out of the Debtors' post-rejection obligations under the
Agreements are general unsecured claims pursuant to Sections
365(g) and 502(g) of the Bankruptcy Code, according to the
Debtors' counsel, Christopher R. Mirick, Esq., at Cadwalader,
Wickersham & Taft LLP, in New York.

On August 4, the deadline for the Debtors to assume or reject
unexpired non-residential real property leases lapsed and,
accordingly, as of that date, the Debtors rejected any un-assumed
or un-rejected leases pursuant to Section 365(d)(4) of the
Bankruptcy Code, Mr. Mirick notes.

Also, pursuant to the March 13, 2009 Order, the Court approved the
rejection of, among other agreements, the Agreements effective
August 4, he adds.

Both the Status Quo Order and the September 9 Decision are focused
on the abandonment of the Debtors' personal property at the
Equistar Facility pursuant to a Transition Plan.  In contrast to
Solutia and Ascend's assertions, neither order stays the rejection
of the Agreements nor provides any other similar effect.  Indeed,
pursuant to Section 365(d)(4), the Status Quo Order could not have
stayed rejection of the Lease Agreement as Solutia did not provide
prior written consent of an extension of the 210-day deadline to
assume or reject unexpired leases of non-residential real
property, Mr. Mirick points out.

In order for the claims to be elevated to administrative expense
priority, the claims must meet the "actual and necessary" standard
for administrative expense priority set forth in Section
503(b)(1)(A) of the Bankruptcy Code, Mr. Mirick asserts.

Solutia and Ascend have failed to demonstrate that the post-
rejection obligations provided an actual benefit to the Debtors
where the Debtors' continued presence at the Equistar Facility is
solely limited to maintaining the status quo of the facility
pending the Debtors' abandonment of all of their personal property
at the facility, Mr. Mirick tells the Court.

Thus, he asserts, Solutia and Ascend's Motion should be denied.

                    Solutia and Ascend Reply

Despite the Debtors' assertion to the contrary, the Status Quo
Order and the September 9, 2009 Decision are better read to have
stayed the effective date of the rejection of the Agreements, Ms.
Labovitz argues.

The Debtors also assert that, under Section 365(d)(4) of the
Bankruptcy Code, the Lease Agreement was deemed rejected on
August 4, 2009, because Solutia did not provide written consent
for an extension of that deadline.

Ms. Labovitz informs the Court that on no less than three
occasions did Solutia provided written consent to any necessary
extension under Section 365(d)(4).

Ms. Labovitz notes that according to the Merriam-Webster
dictionary, status quo is "the existing state of affairs."  On
August 4, 2009, when the Court entered the Status Quo Order, the
existing state of affairs at the Equistar Facility was that the
Agreements had not yet been rejected; Equistar was still
operating the Facility; and Solutia and Ascend were providing
services and access to land Equistar required to operate the
Facility and for which the Debtor was paying under the Agreements.
The Status Quo Order required that "the status quo be maintained"
by Equistar, and Solutia and Ascend, she points out.

Solutia and Ascend submit that Section 365(d)(3) is applicable
and, without further inquiry, requires payment of postpetition,
pre-rejection obligations under the Lease Agreement.  They also
submit that, if the U&S Agreement was not rejected on August 4,
2009, the contract rate is clearly applicable for the services
provided to Equistar since August 4, and even after rejection
still applies.

The Debtors argue that, because Equistar is not operating the
Equistar Facility at a profit, the operation of the Facility does
not momentarily benefit the estate, and that postpetition services
provided by Solutia and Ascend, therefore, are not entitled to
administrative expense priority under Section 503(b).  These
arguments misstate the legal standard.  Profit is not the test for
benefit under Section 503(b)(1)(A), Ms. Labovitz says.

Among other things, the postpetition access to land and services
provided by Solutia and Ascend to Equistar is a cost attendant to
the overall operation of the Debtors' business, which must include
compliance with the Court's orders and applicable environmental
laws and regulations even if the cost is not
lined to a tangible profit, Ms. Labovitz asserts.

                      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)


LYTHGOE PROPERTIES: Wants to Employ Burr Pease as Bankr. Counsel
----------------------------------------------------------------
Lythgoe Properties, LLC, has sought authorization from the U.S.
Bankruptcy Court for the District of Alaska to employ Burr, Pease
& Kurtz as bankruptcy counsel.

BPK will, among other things:

     a. prepare necessary schedules of assets and liabilities and
        related to pleadings;

     b. resolving issues concerning the rights of secured,
        priority and unsecured creditors;

     c. prepare and obtain court approval of a disclosure
        statement and plan of reorganization; and

     d. pursue causes of action where appropriate.

John C. Siemers, a shareholder in BPK, says that the firm will be
paid based on the hourly rates of its personnel:

           John C. Siemers               $220
           Attorneys                   $175-$250
           Paralegals                    $100

BPK represents Lynn H. Lythgoe, Jr., and Eagle River Bowl, LLC, in
pending Chapter 11 proceedings in the Court.  Ms. Lythgoe is a
member and part owner of the Debtor and member of Eagle River
Bowl.  Eagle River Bowl may have a creditor claim of $5,700
against the Debtor which the Debtor intends to list on the
schedules.  The Debtor's assets are managed by Alaska Properties &
Investments (API) which is an affiliate of Debtor.  Separate
counsel will be retained by the Debtor, if necessary, to evaluate
the claims by Eagle River Bowl and by API against the Debtor.

Mr. Siemers assures the Court that BPK is "disinterested" as that
term is defined in Section 101(14) of the Bankruptcy Code.

Eagle River, Alaska-based Lythgoe Properties, LLC, filed for
Chapter 11 bankruptcy protection on December 28, 2009 (Bankr.
Alaska Case No. 09-00966).  John C. Siemers, Esq., at Burr, Pease
& Kurtz assists the Company in its restructuring effort.  The
Company listed $10,000,001 to $50,000,000 in assets and
$10,000,001 to $50,000,000 in liabilities.


MAGNA ENTERTAINMENT: MID Settles Creditors' Committee Lawsuit
-------------------------------------------------------------
MI Developments Inc. said it, its subsidiary MID Islandi sf. --
MID Lender -- and Magna Entertainment Corp. have agreed in
principle to the terms of a settlement and release with the
Official Committee of Unsecured Creditors in connection with an
action commenced by the Committee with respect to the bankruptcy
proceedings of MEC under Chapter 11 of the U.S. Bankruptcy Code in
the U.S. Bankruptcy Court for the District of Delaware.  MID
announced the commencement of the Action on July 22, 2009.

As reported by the Troubled Company Reporter on July 24, 2009, MID
said its subsidiary MID Islandi sf. has been named as a defendant
in an action commenced by the Official Committee of Unsecured
Creditors in connection with Magna Entertainment's bankruptcy
proceedings.  The Committee's action seeks, among other things,
recharacterization as equity of the MID Lender's claims in
relation to the indebtedness previously advanced to MEC and its
subsidiaries, equitable subordination of the MID Lender's claims
against the debtors in the Chapter 11 proceedings and the
avoidance of allegedly fraudulent transfers to the MID Lender.  In
addition, the Committee has sought leave of the Court to pursue a
separate action against MID that alleges, among other things,
breach of fiduciary duty owed to MEC and its creditors.

Under the terms of the settlement agreement, in exchange for the
dismissal of the Action with prejudice and a full release of MID,
the MID Lender, their affiliates, and all current and former
officers and directors of MID and MEC and their respective
affiliates, the unsecured creditors of MEC will receive US$75
million in cash plus US$1.5 million as a reimbursement for certain
expenses in connection with the Action.

In addition, the parties have agreed to the following with respect
to certain previously announced pending asset sales of MEC: (i)
upon the sale of Thistledown, MID will receive the first US$20
million of the proceeds from such sale and the unsecured creditors
of MEC will receive any proceeds in excess of such amount; (ii)
upon the sale of Maryland Jockey Club, MID will receive the first
US$20 million of the proceeds from such sale (subject to
satisfying the secured claim of PNC Bank and all allowed trade
claims directly against MJC and its subsidiaries) and MID and the
unsecured creditors of MEC will share any proceeds in excess of
such amount on a 50/50 basis; and (iii) upon the sale of Lone Star
Park pursuant to an agreement previously filed in the Bankruptcy
Court, the unsecured creditors of MEC will receive the first US$20
million of the proceeds from such sale and MID will receive any
proceeds in excess of such amount. MID will also have the right to
receive the assets or proceeds from the sale of Portland Meadows.

MID, MEC and the Committee have agreed to support a Plan of
Reorganization in connection with the MEC Chapter 11 Proceeding
which will provide for the remaining assets of MEC to be
transferred to MID, including, among other assets, Santa Anita
Park, Golden Gate Fields, Gulfstream Park (including MEC's
interest in The Village at Gulfstream Park, a joint venture
between MEC and Forest City Enterprises, Inc.), AmTote
International, Inc. and XpressBet, Inc.

All rights of MID and MEC against MEC's directors & officers
insurers will be preserved with regard to the settlement in order
to seek appropriate compensation for the releases of all current
and former officers and directors of MID and MEC and their
respective affiliates. MID will be entitled to receive any such
compensation from MEC's directors & officers insurers.

The settlement agreement is conditional upon the negotiation of
definitive documents and the confirmation of the Plan of
Reorganization in the MEC Chapter 11 Proceeding.

With respect to the non-real estate related MEC assets that will
be transferred to MID as contemplated by the settlement agreement,
MID intends to later announce certain forbearance terms or funding
limitations or other restrictions to be approved by its Special
Committee of the Board with respect to any future investments by
MID in, or loans to be made by MID in respect of, such assets.

The terms of the settlement were agreed to by the Board of
Directors of MID based upon a favorable recommendation from its
Special Committee of the Board.

                             About MID

MI Developments Inc. is a real estate operating company engaged
primarily in the acquisition, development, construction, leasing,
management, and ownership of a predominantly industrial rental
portfolio leased primarily to Magna International Inc. and its
subsidiaries in North America and Europe. MID also acquires land
that it intends to develop for mixed-use and residential projects.
MID holds a majority equity interest in MEC, an owner and operator
of horse racetracks, and a supplier, via simulcasting, of live
horseracing content to the inter-track, off-track and account
wagering markets.

                    About Magna Entertainment

Based in Aurora, Ontario, Magna Entertainment Corp. is North
America's largest owner and operator of horse racetracks based on
revenue.  The Company develops, owns and operates horse racetracks
and related pari-mutuel wagering operations, including off-track
betting facilities.  MEC also develops, owns and operates casinos
in conjunction with its racetracks where permitted by law.

MEC owns and operates AmTote International, Inc., a provider of
totalisator services to the pari-mutuel industry, XpressBet(R), a
national Internet and telephone account wagering system, as well
as MagnaBet(TM) internationally.  Pursuant to joint ventures, MEC
has a 50% interest in HorseRacing TV(R), a 24-hour horse racing
television network, and TrackNet Media Group LLC, a content
management company formed for distribution of the full breadth of
MEC's horse racing content.

Following its failure to meet obligations to lenders led by PNC
Bank, National Association, and Wells Fargo Bank, National
Association, and controlling shareholder MI Developments Inc.'s
decision not to provide further financial backing, Magna
Entertainment Corp. and 24 affiliates filed for Chapter 11 on
March 5, 2009 (Bankr. D. Del. Lead Case No. 09-10720).

Marcia L. Goldstein, Esq., and Brian S. Rosen, Esq., at Weil,
Gotshal & Manges LLP, have been engaged as bankruptcy counsel.
Mark D. Collins, Esq., L. Katherine Good, Esq., and Maris J.
Finnegan, Esq., at Richards, Layton & Finger, P.A., are the
Debtors' local counsel.  Miller Buckfire & Co. LLC is the Debtors'
investment banker and financial advisor.  Kurtzman Carson
Consultants LLC is the claims and noticing agent for the Debtors.

Magna Entertainment Corp. had total assets of $1.054 billion and
total liabilities of $947.3 million based on unaudited
consolidated financial statements as of December 31, 2008.


MERISANT WORLDWIDE: Emerges from Chapter 11 Bankruptcy
------------------------------------------------------
Merisant Company announced January 11 that it has successfully
completed its financial restructuring and emerged from Chapter 11
Bankruptcy.

The United States Bankruptcy Court for the District of Delaware
approved Merisant's plan of reorganization on December 16.  The
Plan reduces the aggregate principal amount of Merisant's
indebtedness from $567 million to approximately $147 million,
lowering the Company's annual cash interest expense from
approximately $36 million to $11 million.

Private investment funds managed by Wayzata Investment Partners
LLC are now the majority stockholder of Merisant Company, which is
now the parent company of the Merisant group of companies.
Wayzata has designated five of the seven members of the new board
of directors and named Eugene "Gene" Davis chairman of the board.
Paul Block served as chairman from 2005-2010 and will remain
president and chief executive officer, roles he has held since
2004.  Mr. Block will continue to serve as a director of the
Company.

"This financial restructuring provides the right capital structure
and resources for Merisant to aggressively pursue its goal of
becoming a leading consumer packaged goods company," said Paul
Block, president and chief executive officer of Merisant.
"Merisant has an enviable portfolio of sweeteners and considerable
opportunity in the natural sweetener category. We are now better
equipped to capitalize on these assets."

Wayzata appointed Davis as chairman of the board of directors to
reflect best practices in board governance by separating the
chairman and CEO positions. Davis is the chairman and chief
executive officer of PIRINATE Consulting Group LLC, a firm that
specializes in strategic planning for public and private
companies. Davis has served in senior positions in a variety of
businesses, including consumer products companies.

"Merisant has made significant achievements in the last several
years despite its restrictive capital structure," said Davis.
"Paul and his team successfully stabilized the company's core
sweetener business, improved operating efficiencies, and led
innovations in natural sweeteners. I share Paul's vision for the
company and I'm excited to work with him to achieve it."

In addition to Davis and Block, the board will include Joseph M.
Deignan, Wayzata partner; William P. Murnane, Wayzata operating
partner; Tom Paulson, vice president and chief financial officer
of Tennant Company; Robert F. Waldron, chief marketing officer of
The Sun Products Corporation; and Ryan Langdon, co-founder and
senior managing director of Newport Global Advisors.

"I look forward to working closely with Gene in establishing board
best practices in governance, a strong strategic plan that will
ensure the right ROI and the right investment to deliver the
anticipated results," said Block. "I would like to thank our
previous board and the good working relationship we had with
Pegasus," he added.

                          Merisant's Plan

Under the Plan, holders of bank claims aggregating $205 million
will recover 100% of their claims in the form of new notes, cash
and majority of the preferred stock.  All bank lenders may elect
to convert their $205 million in claims into new stock.  While the
prior version of the Plan allowed Wayzata Investment Partners LLC,
the holder of two-thirds of the secured debt to exchange for 75%
of the new equity, the option is now available to all lenders.

Holders of unsecured claims aggregating $235.3 million against
Merisant Company will recover 5.5% in the form of 12.5% of the new
common stock of Reorganized Merisant and may participate in the
rights offering.  Holders of unsecured trade claims will receive
payment of 60% of the claim in cash provided they vote in favor of
the Plan.  Holders of unsecured claims aggregating $137.1 million
against Merisant Worldwide will receive distributions in the form
of "contingent value rights" if they vote in favor of the Plan.

                     About Merisant Worldwide

Headquartered in Chicago, Illinois, Merisant Worldwide Inc. --
http://www.merisant.com/-- sells low-calorie tabletop sweetener.
The Debtor's brands are Equal(R) and Canderel(R).  The Debtor has
principal regional offices in Mexico City, Mexico; Neuchatel,
Switzerland; Paris, France; and Singapore.  In addition, the
Debtor owns and operates manufacturing facilities in Manteno,
Illinois, and Zarate, Argentina, and own processing lines that are
operated exclusively for the Debtor at plants located in Bergisch
and Stendal, Germany and Bangkrason, Thailand.

As of March 28, 2008, the Debtor has 20 active direct and indirect
subsidiaries, including five subsidiaries in the United States,
six subsidiaries in Europe, five subsidiaries in Mexico, Central
America and South America, and three subsidiaries in the Asia
Pacific region, including Australia and India.  Furthermore, the
Debtor's Swiss subsidiary holds a 50% interest in a joint
venture in the Philippines.  Merisant Worldwide holds 100%
interest in Merisant Company.

Merisant Worldwide and five of its units filed for Chapter 11
protection on January 9, 2009 (Bankr. D. Del. Lead Case No.
09-10059).  Sidley Austin LLP represents the Debtors in their
restructuring efforts.  Young, Conaway, Stargatt & Taylor LLP
represents the Debtors' as co-counsel.  Blackstone Advisory
Services LLP is the Debtors' financial advisor.  Epiq Bankruptcy
Solutions, LLC, is the Debtors' Claims and Noticing Agent.
Winston & Strawn LLP represents the official committee of
unsecured creditors as counsel.  Ashby & Geddes, P.A., is the
Committee's Delaware counsel.  The Debtors had US$331,077,041 in
total assets and US$560,742,486 in total debts as of November 30,
2008.



MERUELO MADDUX: Plan Provides for 80% Payment for Unsecured Claims
------------------------------------------------------------------
Meruelo Maddux Properties, Inc., and its debtor-affiliates filed
with the U.S. Bankruptcy Court for the Central District of
California a disclosure statement explaining the adequacy of
information in their plan of reorganization.

The Debtors will begin soliciting votes on the Plan following
approval of the adequacy of the information in the Disclosure
Statement.

The Debtors propose a hearing on the disclosure statement on
January 20, 2010, at 9:30 a.m. at Courtroom 301, 21041 Burbank
Blvd., Woodland Hills, California.

According to the Disclosure Statement, the Plan provides for the
consolidation of the Debtors and cancellation of existing equity
in MMPI.  The Plan also contemplates that assets will be marketed
and sold as necessary to fund the Reorganized Debtor's obligations
under the Plan and their operations.

Under the Plan, the Debtors reserve the right to abandon any of
their real properties prior to the confirmation date.  The Debtors
also reserve the right, at any time during the term of the Plan,
to refinance the obligations secured by any of their real
properties and satisfy the full amount of the allowed secured
claims against the real property from the proceeds of the
refinancing.

The holders of general unsecured claims the Debtors will receive
deferred cash payments equal to 80% of the allowed amount of the
claim, payable in 20 equal quarterly installments.

All cash necessary for the Reorganized Debtor to make payments
pursuant to the Plan will be obtained from the Reorganized
Debtor's cash balances existing on the effective date and
thereafter, from the operations of the Reorganized Debtor's
businesses, the sale or refinancing of assets of the Reorganized
Debtor, from the Investor New value Contribution; and from any
other lawful source.

The New Value Investor will contribute a total of $10,000,000 to
the Reorganized Debtor.  On the effective date, new value
interests will be issued to the New value investor on account of
the New Value Investor Contribution, which issuance will then
represent all of the issued and outstanding interests in MMPI or
in the limited liability entity that is the Reorganized Debtor
entity.

Copies of the Disclosure Statement is available for free at:

        http://bankrupt.com/misc/MerueloMaddux_DS.pdf
        http://bankrupt.com/misc/MerueloMaddux_DSp5.pdf

A copy of the Chapter 11 Plan is available for free at:

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

Based in Los Angeles, California, Meruelo Maddux Properties, Inc.
-- http://www.meruelomaddux.com/-- and its subsidiaries engage in
commercial and residential property development predominantly in
downtown Los Angeles and other densely populated urban areas in
California.

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


MESA AIR: Bankruptcy Triggers Default in $35MM Indentures
---------------------------------------------------------
In a regulatory filing with the Securities and Exchange Commission
dated January 5, 2010, Mesa Air, Inc.'s executive vice president
and general counsel Brian Gillman disclosed that the Company's
Chapter 11 bankruptcy filing constituted an event of default under
certain indentures.

Pursuant to the Indentures, the Company has issued outstanding
notes with an aggregate principal amount outstanding of
approximately $35.9 million.  The occurrence of an event of
default gives rise to acceleration rights under these indentures.
Mr. Gillman says.

According to Mr. Gillman, the Company's bankruptcy filing also
triggers an event of default that gives rise to acceleration
rights under certain other financing arrangements to which the
Company or a subsidiary of the Company is a party.

The ability of creditors of the Company to seek remedies to
enforce their rights against the Company under the debt
instruments and other agreements, including in the Indentures, is
automatically stayed as a result of the filing of the
reorganization cases, and the creditors' rights of enforcement are
subject to the applicable provisions of the Bankruptcy Code, Mr.
Gillman discloses.

                       About Mesa Air Group

Mesa currently operates 130 aircraft with approximately 700 daily
system departures to 127 cities, 41 states, Canada, and Mexico.
Mesa operates as Delta Connection, US Airways Express and United
Express under contractual agreements with Delta Air Lines, US
Airways and United Airlines, respectively, and independently as
Mesa Airlines and go! Mokulele.  This operation links Honolulu to
the neighbor island airports of Hilo, Kahului, Kona and Lihue. The
Company, founded by Larry and Janie Risley in New Mexico in 1982,
has approximately 3,500 employees.

Mesa Air Group Inc. and its units filed their Chapter 11 petitions
Jan. 5 in New York (Bankr. S.D.N.Y. Case No. 10-10018), listing
assets of $976 million against debt totaling $869 million as of
Sept. 30, 2009.

Richard M. Pachulski, Esq., and Laura Davis Jones, Esq., at
Pachulski Stang Ziehl & Jones LLP, serve as local counsel.
Imperial Capital LLC is the investment banker.  Epiq Bankruptcy
Solutions is claims and notice agent.

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


MESA AIR: Has Interim Nod to Hire Epiq as Claims Agent
------------------------------------------------------
Mesa Air Group Inc. and its units sought and obtained Judge
Glenn's authority to appoint Epiq Bankruptcy Solutions, LLC, to
perform certain claims and noticing functions in the Debtors'
Chapter 11 cases.

As a consulting and data processing firm that specializes in
Chapter 11 administration, including noticing, claims processing,
and other administrative tasks, Epiq is well-qualified to expedite
service of notices, streamline the claims administration process
and permit the Debtors to focus efficiently on their
reorganization efforts, Maria A. Bove, Esq., at Pachulski Stang
Ziehl & Jones LLP, in New York, says.

Pursuant to a Services Agreement between the Debtors and Epiq,
Epiq will:

  (a) Prepare and serve required notices in the Chapter 11
      cases, including:

      (i) a notice of the commencement of the Chapter 11 cases
          and the initial meeting of creditors under Section
          341(a) of the Bankruptcy Code;

     (ii) a notice of the claims bar date;

    (iii) notices of objections to claims;

     (iv) notices of hearings on a disclosure statement and
          confirmation of a plan of reorganization; and

      (v) other miscellaneous notices.

  (b) Assist with the publication of required notices, as
      necessary.

  (c) Maintain copies of all proofs of claim and proofs of
      interest.

  (d) Maintain official claims registers in the Debtors' cases
      by docketing all Claims in a claims database that includes
      (i) the name and address of the claimant or interest
      holder and any agent, (ii) if the proof of claim or proof
      of interest was filed by an agent, (ii) the date the proof
      of claim or proof of interest was received by Epiq and the
      Court, (iii) the claim number assigned to the Claims, and
      (iv) the asserted amount and classification of the Claim.

  (e) Implement necessary security measures to ensure the
      completeness and integrity of the claims registers.

  (f) Transmit to the Clerk's Office a copy of the claims
      registers on a weekly basis, unless requested by the
      Clerk's Office.

  (g) Maintain an up-to-date mailing list for all entities that
      have filed Claims and make that List available to the
      Clerk's Office or any party in interest upon request.

  (h) Provide access to the public for examination of copies of
      the Claims without charge during regular business hours.

  (i) Create and maintain a public access Web site setting forth
      pertinent case information and allowing access to certain
      documents filed in the Debtors' cases.

  (j) Record all transfers of claims pursuant to Rule 3001(e) of
      the Federal Rules of Bankruptcy Procedure and provide
      notice of those Transfers.

  (k) Comply with federal, state, municipal and local statutes,
      ordinances, rules, regulations, orders and other
      requirements.

  (l) Provide temporary employees, who are not past or present
      employees of the Debtors, to process claims, as necessary.

  (m) Promptly comply with further conditions and requirements
      as the Clerk's Office or the Court may prescribe.

  (n) Provide balloting and solicitation services, including
      producing personalized ballots but excluding the
      tabulation of creditor ballots, which will be handled
      solely by the Debtors.

  (o) Provide other claims processing, noticing, balloting and
      related administrative services as may be requested from
      time to time by the Debtors.

  (p) File with the Court the final version of the claims
      register immediately before the close of the Chapter 11
      cases.

  (q) At the close of these Chapter 11 cases, box and transport
      all original documents in proper format, as provided by
      the Clerk's Office, to the Federal Archives.

  (r) Perform other services as are requested by the Debtors to
      the extent covered by the Services Agreement.

The Debtors will pay Epiq in accordance with these hourly rates:

    Title                                    Rate Range
    -----                                    ----------
    Clerk                                    $36 to $54
    Case Manager (Level 1)                  $112 to $157
    IT Programming Consultant               $126 to $171
    Case Manager (Level 2)                  $166 to $198
    Senior Case Manager                     $202 to $247
    Senior Consultant                      to be determined
    Rate Range Average Rate                to be determined

The Debtors have provided Epiq with a $50,000 retainer, Ms. Bove
notes.

The Court also approved these terms of the Services Agreement
between the Debtors and Epiq:

  (a) Epiq will not be entitled to indemnification, contribution
      or reimbursement pursuant to the Services Agreement for
      services other than those described in the Services
      Agreement, unless the services and indemnification are
      approved by the Court;

  (b) The Debtors will have no obligation to indemnify Epiq, or
      provide contribution or reimbursement to Epiq, for any
      claim or expense that is either (i) judicially determined
      to have arisen from Epiq's gross negligence or willful
      misconduct, (ii) for a contractual dispute in which the
      Debtors allege the breach of Epiq's contractual
      obligations unless the Court determines that
      indemnification, contribution or reimbursement would be
      permissible, or (iii) settled prior to a judicial
      determination.

  (c) If, before the earlier of (i) the confirmation of Mesa
      Air's Chapter 11 plan, and the (ii) closing of the Chapter
      11 cases, Epiq believes that it is entitled to the payment
      of any amounts by the Debtors on account of the Debtors'
      indemnification, contribution or reimbursement obligations
      under the Services Agreement, Epiq must file with the
      Court an application for payment, which is not payable
      absent the Court's approval.

Daniel C. McElhinney, executive director at Epiq, assures the
Court that his firm is a "disinterested person" within the meaning
of Section 101(14) of the Bankruptcy Code.

                       About Mesa Air Group

Mesa currently operates 130 aircraft with approximately 700 daily
system departures to 127 cities, 41 states, Canada, and Mexico.
Mesa operates as Delta Connection, US Airways Express and United
Express under contractual agreements with Delta Air Lines, US
Airways and United Airlines, respectively, and independently as
Mesa Airlines and go! Mokulele.  This operation links Honolulu to
the neighbor island airports of Hilo, Kahului, Kona and Lihue. The
Company, founded by Larry and Janie Risley in New Mexico in 1982,
has approximately 3,500 employees.

Mesa Air Group Inc. and its units filed their Chapter 11 petitions
Jan. 5 in New York (Bankr. S.D.N.Y. Case No. 10-10018), listing
assets of $976 million against debt totaling $869 million as of
Sept. 30, 2009.

Richard M. Pachulski, Esq., and Laura Davis Jones, Esq., at
Pachulski Stang Ziehl & Jones LLP, serve as local counsel.
Imperial Capital LLC is the investment banker.  Epiq Bankruptcy
Solutions is claims and notice agent.

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


MESA AIR: To Pay Prepetition Claims of Critical Vendors
-------------------------------------------------------
Mesa Air Group, Inc., and its debtor affiliates operate in a
highly specialized, highly regulated and highly competitive
industry.  The uniqueness of the airline industry leaves airlines
with few options when selecting vendors.  Certain suppliers and
service providers at various venues are simply the only option
available to the Debtors.  Even in those circumstances where more
than one critical vendor can be located to provide a service,
Federal Aviation Administration regulations inhibit an airline's
ability to switch expeditiously from one supplier of goods or
services to another.

The Debtors purchase goods and services from certain vendors and
independent contractors who are unaffiliated with the Debtors and
are, by and large, sole source or limited source suppliers
without whom the Debtors could not operate, or who might be able
to obtain (or have obtained) mechanics' liens, possessory liens,
shippers' liens or similar state law trade liens on property
necessary to the Debtors' ongoing operations.

The Critical Vendors could not be replaced within a reasonable
time and on terms as beneficial to the Debtors as those already
in place, or have obtained trade liens on property necessary to
the Debtors' ongoing operations, Maria A. Bove, Esq., at
Pachulski Stang Ziehl & Jones, in New York, tells the Court.
Further, any time lag generated as a result of finding
replacement vendors would disrupt the Debtors' operations to the
detriment of their estates.  In addition, many of these limited
source suppliers are in the unique position of holding a virtual
monopoly over the services they provide.

As of the Petition Date, the Debtors estimate that the total
accrued, unpaid, prepetition, trade claims aggregate
approximately $60,000,000.

As of the Petition Date, the Debtors estimate that the accrued,
unpaid, prepetition critical vendor claims aggregate
approximately $4,778,000, or approximately 8.0% of the total
aggregate trade debt:

  Critical Vendor                                  Claim Amount
  ---------------                                  ------------
  Lienor Critical Vendors, includes:
   - Outside Maintenance & Service Providers         $3,530,000
   - Shippers                                           350,000

  Non-Lienor Critical Vendors, includes:                898,000
   - Outside Maintenance & Service Providers
   - Aircraft Parts Suppliers
   - Flight Training Providers
   - Essential Amenity Providers
   - Ground Support Services Providers
   - Crew and Employee Related Providers
   - Information Technology Suppliers & Service Providers
   - Flight Navigation Systems Providers

The Lienor Critical Vendors are vendors who have obtained or may
be able to assert statutory lien rights under applicable law.
The Non-Lienor Critical Vendors are vendors who have neither
obtained nor have the right to assert statutory liens under
applicable law.

By this motion, the Debtors, acknowledging the importance of the
Critical Vendors, seek authority from Judge Martin Glenn of the
U.S. Bankruptcy Court for the Southern District of New York to
pay all of their outstanding obligations to the Critical Vendors.

The Debtors propose to pay, in their sole discretion, the claims
of each Non-Lienor Critical Vendor on the condition that they
agree to continue to supply goods or services to the Debtors on
customary trade terms for a period of time and enter into a
vendor agreement.  If a Non-Lienor Critical Vendor later refuses
to continue to supply goods or services to the Debtors on the
Customary Trade Terms, then the Debtors may (i) declare that the
payment to that creditor is a voidable postpetition transfer and
(ii) demand that the creditor immediately return the payments to
the extent the aggregate amount of the payment exceeds the
Debtors' postpetition obligations.

                   Section 503(b)(9) Claims

Ms. Bove asserts that the Debtors are not required, prior to the
conclusion of their bankruptcy cases, to reconcile or pay claims
of Critical Vendors for the value of goods received by the
Debtors in the ordinary course of their business during the 20-
day period prior to the Petition Date, which are likely entitled
to administrative expense priority under section 503(b)(9) of the
Bankruptcy Code.

Notwithstanding that, the Debtors ask the Court to clarify that
they are authorized in their sole discretion in the ordinary
course of their businesses, but not required, to pay the
503(b)(9) Claims, or any portion thereof, of any claimant that is
a Critical Vendor, provided that any payment of 503(b)(9) Claims
will be conditioned upon the claimant's agreement to Customary
Trade Terms and execution of a Vendor Agreement.

The Debtors also ask that payments of 503(b)(9) Claims made to
Non-Lienor Critical Vendors not count against the Non-Lienor
Vendor Claims Cap.  For the avoidance of doubt, the Debtors will
not pay any 503(b)(9) Claims asserted by claimants that are not
Critical Vendors, Ms. Bove tells the Court.

                        *     *     *

Judge Glenn, on an interim basis, approves the Motion and
authorizes the Debtors to pay all of their outstanding
obligations to Critical Vendors to the extent that until
January 28, 2010, the relief requested by the Debtors is granted
only to the extent that it is necessary to avoid immediate and
irreparable harm.

The Debtors are directed to determine, in the ordinary course of
business, who is a Critical Vendor by considering, among other
things, (a) which suppliers were sole source or limited source
suppliers, without whom the Debtors could not continue to operate
without disruption, (b) which suppliers would be prohibitively
expensive to replace, (c) which suppliers present an unacceptable
risk should they cease the provision of truly essential services
or supplies and (d) the extent to which suppliers may be able to
obtain or have obtained trade liens on equipment, supplies or
goods of the Debtors.

The Debtors will maintain a matrix summarizing (a) the name of
each Critical Vendor paid on account of vendor claims, (b) the
amount paid to each Critical Vendor on account of its vendor
claim and (c) the goods or services provided by the Critical
Vendor.  The Debtors will provide the Matrix to the U.S. Trustee
and the professionals engaged by an official committee of
unsecured creditors, on a weekly basis.

With respect to Lienor Critical Vendors, and with respect to Non-
Lienor Critical Vendors, the Debtors will provide the Matrix to
those parties when the payments to those parties aggregate
$250,000 and the Debtors will provide those parties with a
revised Matrix each time the payments to the Non-Lienor Critical
Vendors subsequently aggregate $250,000.

The Committee's professionals will keep the Matrix confidential
and will not disclose any of the information in the matrix to
anyone, including, but not limited to, any member of the
Committee, without prior written consent from the Debtors.

All Vendor Agreements will be deemed to have terminated, together
with the other benefits to Critical Vendors, upon entry of an
order converting the Debtors' Chapter 11 cases to cases under
Chapter 7 of the Bankruptcy Code.

The Court directs each of the banks and financial institutions to
receive, process, honor and pay all checks presented for payment
and to honor all fund transfer requests made by the Debtors.

Judge Glenn rules that nothing in the Order will be deemed as an
impairment of the Debtors' rights to contest the validity or
amount of any claims asserted by any Critical Vendor or paid
pursuant to authority granted under the Interim Order.

                       About Mesa Air Group

Mesa currently operates 130 aircraft with approximately 700 daily
system departures to 127 cities, 41 states, Canada, and Mexico.
Mesa operates as Delta Connection, US Airways Express and United
Express under contractual agreements with Delta Air Lines, US
Airways and United Airlines, respectively, and independently as
Mesa Airlines and go! Mokulele.  This operation links Honolulu to
the neighbor island airports of Hilo, Kahului, Kona and Lihue. The
Company, founded by Larry and Janie Risley in New Mexico in 1982,
has approximately 3,500 employees.

Mesa Air Group Inc. and its units filed their Chapter 11 petitions
Jan. 5 in New York (Bankr. S.D.N.Y. Case No. 10-10018), listing
assets of $976 million against debt totaling $869 million as of
Sept. 30, 2009.

Richard M. Pachulski, Esq., and Laura Davis Jones, Esq., at
Pachulski Stang Ziehl & Jones LLP, serve as local counsel.
Imperial Capital LLC is the investment banker.  Epiq Bankruptcy
Solutions is claims and notice agent.

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


MIDWAY GAMES: Dewey Prevails in Fee Spat With Creditors
-------------------------------------------------------
Jettisoning creditors' objections, a judge has given the green
light to Dewey & LeBoeuf LLP to bill the estate of Midway Games
Inc. for legal services the firm provided to embattled board
members of the bankrupt video game company, Law360 reports.

Headquartered in Chicago, Illinois, Midway Games Inc. (OTC Pink
Sheets: MWYGQ) -- http://www.midway.com/-- was a leading
developer and publisher of interactive entertainment software for
major videogame systems and personal computers.

The Company and nine of its affiliates filed for Chapter 11
protection on February 12, 2009 (Bankr. D. Del. Lead Case No.
09-10465).  Michael D. DeBaecke, Esq., Jason W. Staib, Esq, and
Victoria A. Guilfoyle, Esq., at Blank Rome LLP, in Wilmington,
Delaware; and Marc E. Richards, Esq., and Pamela E. Flaherty,
Esq., at Blank Rome LLP, in New York, represent the Debtors in
their restructuring efforts.  Attorneys at Milbank, Tweed, Hadley
& McCloy LLP and Richards, Layton & Finger, P.A. represent the
official committee of unsecured creditors as counsel.  Epiq
Bankruptcy Solutions, LLC, is the Debtors' claims, noticing, and
balloting agent.

On July 10, 2009, Midway and certain of its U.S. subsidiaries
completed the sale of substantially all of their assets to
Warner Bros. Entertainment Inc. in a sale approved by the Court.
The aggregate gross purchase price is roughly $49 million,
including the assumption of certain liabilities.  Midway is
disposing of its remaining assets.

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


MITEK SYSTEMS: Mayer Hoffman Raises Going Concern Doubt
-------------------------------------------------------
Mayer Hoffman McCann P.C., in San Diego, Calif., expressed
substantial doubt about Mitek Systems, Inc. ability to continue as
a going concern after auditing the Company's financial statements
as of and for the years ended September 30, 2009, and 2008.  The
independent public accounting firm reported that the Company has
negative working capital and has incurred recurring operating
losses and negative cash flows from operations.

The Company reported a net loss of $1,321,964 on sales of
$3,618,615 for the year ended September 30, 2009, compared to a
net loss of 748,764 on sales of $5,229,448 for the year ended
September 30, 2008.

At September 30, 2009, the Company's balance sheet showed total
assets of $1,601,110, total liabilities of $1,475,345, and total
stockholders' equity of $125,765.

The Company's balance sheet at September 30, 2009, also showed
strained liquidity with $1,145,525 in total current assets
available to pay $1,425,971 in total current liabilities.

A full-text copy of the Company's Form 10-K is available at no
charge at http://researcharchives.com/t/s?4d2f

                       About Mitek Systems

Based in San Diego, Calif., Mitek Systems, Inc. (OTC: MITK.OB) --
http://www.miteksystems.com/-- is primarily engaged in the
development and sale of software solutions.  The Company develops
and markets intelligent character recognition and document capture
products and services deployed primarily in the financial services
markets.


MOHEGAN TRIBAL: Pennsylvania Table Game OK Has Pos. Credit Effects
------------------------------------------------------------------
Pennsylvania legalized table games like poker and blackjack, a
negative development for the credit profiles of already-suffering
casino operators in nearby Atlantic City.

For Atlantic City casino operators Harrah's Entertainment, Inc.
(Caa3, negative) and Trump Entertainment Resorts Holdings, LP
(unrated and in bankruptcy), the approval of table games in
Pennsylvania carries negative credit implications.  This is
because these companies -- already suffering from weak gaming
demand and increased competition from slots in Pennsylvania -- are
bound to see further declines in gaming revenues owing to the new
table game legislation.

Atlantic City generates over $1 billion a year from table games,
which accounts for 30% of its total annual gaming revenue.  This
represents a large potential market for Pennsylvania, particularly
for casinos located in the eastern part of the state and in
relatively easy driving distance to Atlantic City.

For casino operators like Las Vegas Sands (B3, negative), Mohegan
Tribal Gaming Authority (B3, stable), and Penn National Gaming,
Inc (Ba2, negative) -- each of which owns a casino in eastern
Pennsylvania -- this is a credit-positive event because of the
additional gaming revenue that will likely come to the state from
Atlantic City.

However, Moody's don't believe that this new legislation, though
positive for Pennsylvania gaming revenues, will be enough to
positively affect the ratings of the companies that own eastern
Pennsylvania gaming facilities.  This is because many of them are
rated B3 or lower and/or generate a majority of their earnings
from casinos outside of Pennsylvania.  Likewise, Moody's don't
think this development will affect the already low ratings of
Harrah's Entertainment, Inc., although it could limit the
company's ability to improve its rating over the longer-term given
it large concentration in Atlantic City.

But beyond the near-term impact of the approval of table games in
Pennsylvania, the move is a symptom of the bigger problem plaguing
the gaming business, namely that there are more states and more
facilities scrapping over an ultimately finite -- and possibly
permanently smaller -- pie.

So while the new legislation will give Pennsylvania casinos a
boost in the short run and will likely hurt gaming revenues in
Atlantic City, it opens up a new front in the battle among states
to make gaming attractions more appealing.  Neighboring
jurisdictions might boost promotional activity and further expand
their own gaming offerings, which could end up costing
Pennsylvania casinos more to stay competitive.  But Moody's doubt
any new costs of doing business will undermine the economics of
allowing table games in the state.


MONTECITO AT MIRABEL: Files List of 5 Largest Unsecured Creditors
-----------------------------------------------------------------
Montecito at Mirabel Development, L.L.C., has filed with the U.S.
Bankruptcy Court for the District of Arizona a list of its five
largest unsecured creditors.

A full-text copy of the Debtor's list of creditors is available
for free at http://bankrupt.com/misc/azb09-33899.pdf

Mesa, Arizona-based Montecito At Mirabel Development, L.L.C. --
dba Montecito @ Mirabel Development, LLC -- filed for Chapter 11
bankruptcy protection on December 31, 2009 (Bankr. D. Ariz. Case
No. 09-33899).  Randy Nussbaum, Esq., at Nussbaum & Gillis, P.C.,
assists the Company in its restructuring effort.  The Company
listed $10,000,001 to $50,000,000 in assets and $10,000,001 to
$50,000,000 in liabilities.


MONTECITO AT MIRABEL: Sec. 341 Creditors Meeting Set for Feb. 2
---------------------------------------------------------------
The U.S. Trustee for Region 14 will convene a meeting of Montecito
At Mirabel Development, L.L.C.'s creditors on February 2, 2010, at
1:30 p.m. at US Trustee Meeting Room, 230 N. First Avenue, Suite
102, Phoenix, AZ.

This is the first meeting of creditors required under Section
341(a) of the U.S. Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
Meeting of Creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

Mesa, Arizona-based Montecito At Mirabel Development, L.L.C. --
dba Montecito @ Mirabel Development, LLC -- filed for Chapter 11
bankruptcy protection on December 31, 2009 (Bankr. D. Ariz. Case
No. 09-33899).  Randy Nussbaum, Esq., at Nussbaum & Gillis, P.C.,
assists the Company in its restructuring effort.  The Company
listed $10,000,001 to $50,000,000 in assets and $10,000,001 to
$50,000,000 in liabilities.


MONTECITO AT MIRABEL: Taps Nussbaum & Gillis as Bankr. Counsel
--------------------------------------------------------------
Montecito At Mirabel Development, L.L.C., has sought authorization
from the U.S. Bankruptcy Court for the District of Arizona to
employ Randy Nussbaum and the law firm of Nussbaum & Gillis, P.C.,
as bankruptcy counsel.

Nussbaum & Gillis will assist the Debtor in matters necessary for
the Chapter 11 bankruptcy proceedings, represent the Debtor in
hearings before the Court, and negotiate and resolve issues
related to its Chapter 11 bankruptcy proceedings.

The Debtor will pay Nussbaum & Gillis based on the hourly rates of
its personnel:

              Partners                    $325-$450
              Associates                  $175-$324
              Paralegal Assistants        $115-$175

The Debtor believes that Nussbaum & Gillis is "disinterested" as
that term is defined in Section 101(14) of the Bankruptcy Code.

Mesa, Arizona-based Montecito At Mirabel Development, L.L.C. --
dba Montecito @ Mirabel Development, LLC -- filed for Chapter 11
bankruptcy protection on December 31, 2009 (Bankr. D. Ariz. Case
No. 09-33899).  Randy Nussbaum, Esq., at Nussbaum & Gillis, P.C.,
assists the Company in its restructuring effort.  The Company
listed $10,000,001 to $50,000,000 in assets and $10,000,001 to
$50,000,000 in liabilities.


MOVIE GALLERY: Wants to Pay Incentives to Employees
---------------------------------------------------
Cindy Spielvogel at Video Business says Movie Gallery asked the
U.S. Bankruptcy Court to pay incentives to employees assisting in
the store closings.  More than 220 Hollywood video and 170 Movie
Gallery stores will be closed, and inventory will be sold by end
of March.

This is the second phase closure of underperforming and
unprofitable stores for the company, report says.  The first phase
took place in September that shut down 520 stores.

Movie Gallery, Inc. is a home entertainment specialty retailer
serving urban, rural and suburban markets in North America.  The
Company owns and operates approximately 3,290 retail stores,
located throughout North America, that rent and sell digital
versatile discs (DVDs), blu-ray discs and video games.  The
Company operates through three brands: Movie Gallery, Hollywood
Video and Game Crazy. In March 2007, the Company acquired
substantially all of the assets, technology, network operations
and customers of MovieBeam, Inc, an on-demand movie service.
During the fiscal year ended January 6, 2008 (fiscal 2007), the
Company ceased operations of its MovieBeam business.  On May 20,
2008, the Company announced that it has emerged from Chapter 11
bankruptcy protection

The Company and its debtor-affiliates filed for Chapter 11
protection on Oct. 16, 2007 (Bankr. E.D. Va. Case Nos. 07-33849 to
07-33853). Kirkland & Ellis LLP and Kutak Rock LLP represented the
Debtors.  The Bankruptcy Court confirmed a reorganization plan for
Movie Gallery in April 2008, which paved way for the Company's
emergence a month later.  William Kaye was appointed plan
administrator and litigation trustee.


MPI AZALEA: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: MPI Azalea, LLC
        aka Highland Brooke Apartments
        3280 Peachtree Road, Suite 600
        Atlanta, GA 30305

Case No.: 09-60803

Chapter 11 Petition Date: January 8, 2010

Debtor-affiliates filing separate Chapter 11 petitions January 8,
2010:

        Entity                                     Case No.
        ------                                     --------
Miles Properties, Inc.                             10-60797
MPI Development Group, Inc.                        10-60798
MPI Portfolio I LLC                                10-60802
Miles-Cherry Hill, LLC                             10-60804
Miles-Oak Park, LLC                                10-60805
Miles-Fox Hollow, LLC                              10-60806
Miles-April Ridge, LLC                             10-60807
MPI Cimarron, LLC                                  10-60808
MPI Sunset Place, LLC                              10-60809
MPI Palms West, LLC                                10-60810
MPI British Woods, LLC                             10-60811
MPI Chaucer, LLC                                   10-60812

Debtor-affiliates filing separate Chapter 11 petition December 9,
2009:

        Entity                                     Case No.
        ------                                     --------
Daniel J. Miles                                    09-92601

Court: United States Bankruptcy Court
       Northern District of Georgia (Atlanta)

Debtor's Counsel: Jimmy C. Luke, Esq.
                  Foltz Martin, LLC
                  Suite 750, 5 Piedmont Center
                  Atlanta, GA 30305
                  Tel: (404) 231-9397
                  Fax: (404) 237-1659
                  Email: jluke@foltzmartin.com

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

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

The petition was signed by Ronald L. Glass the company's chief
restructuring officer.

MPI Azalea, LLC's List of 20 Largest Unsecured Creditors:

  Entity                     Nature of Claim        Claim Amount
  ------                     ---------------        ------------
City of Atlanta              Water Supplier         $111,082
Department of Water

Master Contracting           Construction           $109,693

Right Turn                   Painting               $33,180

Creative Companies           Flooring Maintenance   $22,305
James Knight, III

Home Depot Supply            Building Supplies      $19,628
fka Maintenance Whse

Landscape Management         Landscaping            $16,500
Services

Georgia Power                Power Provider         $14,266

Private Security Enforcement Security               $13,500

Southeastern Appliance       Lighting supplier      $7,738
& Lighting Co.
Howard A. Hoffer

Gas South                    Gas Provider           $7,559

B Jay Contracting Inc.       Contractor             $6,515

Advanced Disposal            Disposal services      $5,181
Attn: Liz Thorne
Atlanta Apartment Magazine   Magazine               $4,990

Crowe Roofing Systems,       Roofing                $4,805
Inc.

Todd Security &              Security               $4,719
Association, Inc.

Seagull Enterprises, LLC     Interior Flooring      $3,656

Fowler, Hein, Cheatwood,     Legal Services         $3,034
& Williams, PA

Tygris Vendor Finance        Vendor financing       $1,780

Wilmar Industries, Inc.      Maintenance Supplies   $1,735

Orkin Exterminating Co.,     Exterminator           $1,628
Inc.


NATIONAL RETAIL: Fitch Downgrades Preferred Stock Rating to 'BB+'
-----------------------------------------------------------------
Fitch Ratings has affirmed the Issuer Default Rating and
outstanding debt ratings for National Retail Properties, Inc.:

  -- IDR at 'BBB';
  -- Unsecured line of credit at 'BBB';
  -- Senior unsecured notes at 'BBB';
  -- Senior unsecured convertible notes at 'BBB'.

In addition, Fitch has downgraded the preferred stock rating of
National Retail Properties, Inc.:

  -- Preferred stock to 'BB+' from 'BBB-'.

The Rating Outlook is Stable.

Fitch's affirmations reflect the consistent performance of NNN's
portfolio given the current economic environment, as evidenced by
a 96.3% occupancy and slightly positive net operating income
growth as of Sept. 30, 2009 compared to Sept. 30, 2008.  The
ratings affirmations also reflect NNN's solid fixed-charge
coverage ratio (defined as recurring operating EBITDA less capital
expenditures and straight-line rents, divided by interest expense,
capitalized interest, and distributions on preferred stock) of 3.1
times for the 12 months ended Sept. 30, 2009, up from 2.9x for
full year 2008.

The ratings are further supported by NNN's diversified free-
standing retail and convenience store assets consisting of 1,004
investment properties spread throughout 44 states, primarily in
the states of Texas, Florida, Illinois, North Carolina and
Georgia.  NNN's portfolio is comprised of over 200 tenants
encompassing 35 industry classifications.

Additionally, NNN's solid risk-adjusted capitalization ratio of
1.4x, and unencumbered asset coverage of unsecured debt (based on
undepreciated book assets) of 2.7x as of Sept. 30, 2009, provides
ample protection to unsecured bondholders.  NNN also exhibits
strong leverage metrics that are commensurate with its 'BBB'
rating.  NNN's net debt to recurring operating EBITDA ratio as of
Sept. 30, 2009, was 5.0x, down from 5.4x as of Dec. 31, 2008.

The ratings also point to the strength of NNN's management team,
and NNN's consistent and successful execution of its business
strategy, which entails acquiring, owning, and investing in
single-tenant retail properties, generally under long-term triple
net leases.

Fitch views positively NNN's manageable debt maturity schedule,
which contributes to a liquidity coverage ratio (total expected
sources of liquidity divided by total expected uses of liquidity)
of 3.2x for the period of Sept. 30, 2009 through Dec. 31, 2011.
NNN's full availability under its $400 million unsecured line of
credit, which recently replaced an existing facility in November
2009 is the main driver of NNN's liquidity surplus.  NNN's debt
maturity schedule, which results in only 16% of total debt
maturing through 2011 (including $138.7 million of senior
unsecured convertible notes Fitch expects to be put to NNN in
2011), and strong unencumbered asset to unsecured debt coverage
provide additional financial flexibility and limit refinance risk
over the next two years.

In addition, the financial covenants in the company's unsecured
debt agreements do not limit NNN's financial flexibility.

Fitch's credit concerns revolve around the potential for tenant
credit issues to negatively impact NNN's cash flows, due to a
difficult retail environment that remains susceptible to
restrained consumer spending and challenging economic conditions.

Additionally, Fitch remains concerned with NNN's relatively high
exposure to the convenience store industry, an industry which is
atypical of NNN's traditional retail lines of trade.  However,
Fitch notes that NNN's convenience store portfolio has provided
positive returns to date and does not expect any adverse effects
from NNN's exposure to this segment in the near term.

The two-notch difference between NNN's IDR and its preferred stock
rating is consistent with Fitch's new hybrid securities rating
criteria, and results in a downgrade of NNN's preferred stock by
one notch.  Based on Fitch's criteria reports, 'Rating Hybrid
Securities' and 'Equity Credit for Hybrids and Other Capital
Securities - Amended' both dated Dec. 29, 2009, the company's
cumulative preferred stock has loss absorption elements that would
likely result in poor recoveries in the event of a corporate
default, resulting in a two-notch difference between NNN's IDR and
its preferred stock rating.

The Stable Outlook centers on Fitch's expectation that NNN will
continue to exhibit solid credit metrics throughout 2010 and 2011.
In addition, NNN's long-term triple net leases and manageable
lease expiration schedule provide a stabilizing component to the
portfolio.  The Outlook also takes into account NNN's financial
flexibility, strong liquidity position, and the diversity of NNN's
portfolio and tenant base.

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

  -- Fitch-defined fixed charge coverage were to sustain above
     3.5x (fixed charge coverage was 3.1x for the 12 months ended
     Sept. 30, 2009);

  -- Total debt to annualized recurring EBITDA were to sustain
     below 4.5x (leverage was 5.0x as of Sept.  30, 2009);

  -- NNN's unencumbered asset to unsecured debt coverage ratio on
     an undepreciated book basis were to sustain above 3.0x
      (coverage was 2.7x as of Sept. 30, 2009).

These factors may have a negative impact on NNN's ratings:

  -- Fitch-defined fixed charge coverage were to fall below 2.5x
     for several consecutive quarters;

  -- Total debt to annualized recurring EBITDA were to sustain
     above 6.0x;

  -- NNN's unencumbered asset to unsecured debt coverage ratio
     were to sustain below 2.3x;

  -- A liquidity deficit.


NEXMED INC: Plans to Submit NADAQ Listing Compliance Plan
----------------------------------------------------------
NexMed, Inc., provided an update on ongoing corporate activities
and the status of the Company's NASDAQ listing.

                         Product Pipeline

Topical Alprostadil Treatments

NexMed expects to hear from Health Canada concerning the
approvability of its New Drug Submission (NDS) for Vitaros(R), its
topical treatment for erectile dysfunction, sometime in February
2010.  As such, management has postponed negotiations with its
potential partner until an approval decision from Health Canada is
received, as partnering negotiations with a marketing approval
would be expected to yield more favorable terms for the Company.

In the U.S., NexMed is awaiting a response from the Food and Drug
Administration (FDA) regarding the carcinogenicity (CAC)
assessment package, which it expects to occur within the next two
months.  Partnering efforts for Femprox(R), NexMed's topical
treatment for female sexual dysfunction, are on hold pending the
final decision by the FDA.

Outside of North America, NexMed is awaiting Health Canada or the
FDA's response to accelerate partnering efforts and/or filing for
marketing approvals.  To date, NexMed has received multiple
indications of interest from international pharmaceutical
companies that might be interested in partnering with NexMed.

In addition, through its Bio-Quant research and development team,
NexMed is running new efficacy studies on the Vitaros formulation
to assess the potential of the compound for other indications such
as wound healing and Raynaud's Syndrome.  NexMed's strategy is to
take advantage of the development work already completed for
Vitaros and bolster the existing database with new data and apply
it to potentially shorten the path of approval.  The goal includes
commencing partnering discussions in mid-2010 for the new
indications, if the pre-clinical data are positive.

NM100060 Onychomycosis Treatment

NexMed is actively engaged in efforts to re-license this product
for the treatment of nail fungus.  In the meantime, Novartis
continues to transfer the clinical and regulatory dossiers to the
Company and the data are being shared with potential partners.

Topical Psoriasis Treatment

NexMed's Bio-Quant R&D team is also proceeding with extensive pre-
clinical efficacy studies to strengthen its psoriasis candidate
while actively engaging in partnering discussions.

Topical NSAID Program

NexMed is also exploring the opportunity to license an early stage
NSAID program, which includes an issued U.S. patent.  This program
was not pursued when NexMed chose to focus its resources on its
sexual dysfunction programs.  Preclinical data of the NexACT-based
ketoprofen cream has shown more rapid and efficient delivery of
the drug as compared to the currently marketed products.

NexACT technology, Partnering as a Service

NexMed has initiated discussions with potential partners regarding
the application of its NexACT technology to drugs that will soon
be going off-patent to help create a second-generation drug that
has patent protection through the mechanism of delivery.  The
NexACT platform technology has demonstrated the potential to
improve the topical absorption of active therapeutic ingredients
and/or to develop new patient-friendlier routes of administration.
Incorporating older drugs with the NexACT proprietary delivery
system can create new products that not only provide patients with
added therapeutic benefits, but can also extend the product life
for up to an additional 20 years.  As such, the Company intends to
aggressively pursue these types of potential partnering
arrangements going forward.

NexACT technology, New Applications

In addition to developing innovative topical treatments, NexMed's
new scientific team is evaluating the ability of the NexACT
technology to deliver biologics, such as humanized or fully human
antibodies, via transdermal application.  The delivery of such
biologics through the skin represents a novel approach to
delivering antibodies to specific areas of the body with limited
systemic exposure -- potentially reducing side effects and
toxicity.  The Company is also evaluating the ability of the
NexACT technology to deliver drugs orally, including various
first-line oral chemotherapeutics, which currently have poor
bioavailability and thus require high doses and result in certain
toxic side effects.

                          NASDAQ Listing

On January 4, 2010, NexMed received an expected notice of non-
compliance from The NASDAQ Stock Market LLC based upon its failure
to solicit proxies and hold an annual meeting for fiscal 2008 by
December 31, 2009, as required by NASDAQ Listing Rules 5620(a) and
5620(b), which could serve as an additional basis for the
delisting of the Company's securities from The NASDAQ Capital
Market.  NexMed had discussed this matter with the NASDAQ Listing
Qualifications Panel at the hearing on November 12, 2009, and
explained that it planned to postpone the 2008 annual meeting due
to the ongoing acquisition of Bio-Quant and would not be able to
incorporate all of the relevant acquisition related materials in
the meeting proxy in a timely manner.

As NexMed previously announced on December 18, 2009, the Panel
granted its request to remain listed on The NASDAQ Capital Market,
subject to the condition that it evidence stockholders' equity of
at least $2.5 million or a market value of listed securities of at
least $35 million on or before March 31, 2010.  The determination
followed the hearing before the Panel on November 12, 2009, at
which time NexMed presented its plan to evidence compliance with
all requirements for continued listing on The NASDAQ Capital
Market, including the proxy solicitation/annual meeting and bid
price requirements (notwithstanding the fact that NexMed was not
yet deficient with respect to those standards).

As provided by NASDAQ's most recent notice, NexMed plans to timely
make a formal written submission to the Panel presenting its plan
to evidence compliance with the proxy solicitation and annual
meeting requirements.  While it intends to file a proxy statement
for a special meeting of shareholders to be held within the next
sixty days to consider amending its Articles of Incorporation to
authorize more common stock for issuance, that meeting may not be
conducted as an annual meeting since the proxy statement will not
incorporate audited financial statements for the fiscal year ended
December 31, 2009.  As a result, in order to satisfy NASDAQ's
annual meeting requirement, NexMed plans to file a proxy statement
for a joint 2008/2009 annual meeting promptly following the filing
of its Annual Report on Form 10-K for fiscal 2009 in March 2010.
Accordingly, the Company is asking the Panel to modify its
previously issued decision in accordance with the Company's
revised plan of compliance.  However, there can be no assurance
that the Panel will grant the Company's request.

Also as previously announced, NexMed remains subject to a grace
period through January 25, 2010 to evidence compliance with the
$1.00 bid price requirement for continued listing on NASDAQ.  In
the event NexMed does not evidence compliance with the bid price
requirement by that date, NexMed expects to receive an additional
formal notice of non-compliance and to be afforded an opportunity
to request an exception from the Panel to evidence compliance with
the minimum bid price requirement.  In that regard, NexMed will
implement a reverse stock split, if necessary, to evidence
compliance with NASDAQ's minimum bid price requirement, which
action may be taken at any time at the discretion of the NexMed
Board of Directors.

                       Corporate Integration

Subsequent to the December 17, 2009 announcement of the lease of
its manufacturing building in New Jersey, NexMed has completed the
relocation of its headquarters to 6330 Nancy Ridge Drive, San
Diego, CA 92121.  NexMed now has 34 full time employees, of whom
eight employees hold either Ph.D or MD degrees.  NexMed will
include the pro forma financial statements for the combined entity
in an amendment to its December 17, 2009 Current Report on Form 8-
K, to be filed on or before February 26, 2010.

                          About NexMed

NexMed Inc.'s pipeline includes a late stage terbinafine treatment
for onychomycosis, a late stage alprostadil treatment for erectile
dysfunction, a Phase 2 alprostadil treatment for female sexual
arousal disorder, and an early stage treatment for psoriasis.  On
the Net: http://www.nexmed.com/


NORTEL NETWORKS: Gets Nod to Send 64 Client Contracts to Avaya
--------------------------------------------------------------
Nortel Networks Inc. and its affiliates obtained Court approval
to assume and assign 64 more customer contracts to Avaya Inc. in
connection with the sale of their Enterprise Solutions Business.

Meanwhile, Intoto LLC and Freescale Semiconductor Inc. dropped
their objections to the proposed sale of the Debtors' business.
The Objecting Parties withdrew their objections after they were
advised by NNI that none of their agreements will be assumed and
assigned to Avaya.

Microsoft Corp. filed an objection to the proposed assumption and
assignment of its contracts, which include a vendor service
agreement dated November 30, 2003, and a license agreement dated
May 30, 2003, on grounds that the contracts had already expired
and thus, cannot be assumed and assigned.

                       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 the Company's 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)


NORTEL NETWORKS: Gets Nod for Side Agreement With Nortel China
--------------------------------------------------------------
Nortel Networks Inc. and its affiliated debtors obtained approval
from the U.S. Bankruptcy Court for the District of Delaware of a
"side agreement" with Nortel Networks (China) Ltd. and Nortel
Networks Ltd.

The parties hammered out the Side Agreement in connection with
the sale of their Code Division Multiple Access (CDMA) business
and Long Term Evolution (LTE) assets to Telefonaktiebolaget LM
Ericsson.  The deal is intended to ensure that Nortel China
receives at least the minimum necessary consideration for the
sale of its assets.

The key terms of the Side Agreement are:

  (1) In the event the "required purchase price" or the amount
      of sale proceeds to be allocated to Nortel China as
      consideration for its assets exceeds the amount of sale
      proceeds allocated to the company pursuant to the protocol
      for resolving disputes over the allocation of sale
      proceeds, NNL and NNI will each pay to Nortel China an
      "adjustment amount" equal to 50% of the difference between
      the required purchase price and the allocated purchase
      price.

  (2) The required purchase price will be determined by an
      independent third-party valuation expert retained by
      Nortel China at its own expense, in consultation with NNL
      and NNI.  If either NNL or NNI objects to the valuation
      provided by the valuation expert within 30 days of receipt
      of notice, two additional valuation experts will be
      retained and the required purchase price will be the
      average of the three.

  (3) Any payment by NNL or NNI of its portion of the adjustment
      amount will be considered to be a corresponding deduction
      in the amount of sale proceeds allocated to NNL and NNI
      for the sale of their respective CDMA and LTE assets.

  (4) If NNL or NNI objects to the valuations provided by the
      additional valuation experts within 30 days of receipt of
      written notification of the additional valuation amounts,
      the parties will submit the determination of the
      adjustment amount to arbitration in Beijing under the
      auspices of the China International Economic and Trade
      Arbitration Commission.

  (5) In the event that subsequent to the payment of the
      adjustment amount Nortel China makes one or more dividend
      payments, distributions or other payments to NNL in its
      capacity as a shareholder of Nortel China, NNL will pay
      50% of the after-tax amounts of those distributed amounts
      to NNI upon actual receipt of the distributed amounts,
      provided that those payments to NNI will not in the
      aggregate exceed the portion of the adjustment amount paid
      by NNI to Nortel China.

A full-text copy of the Nortel China Side Agreement is available
without charge at:

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

                       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 the Company's 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)


NORTEL NETWORKS: Has OK to Hire John Ray as Principal Officer
-------------------------------------------------------------
Nortel Networks Inc. and its affiliated debtors obtained authority
from the U.S. Bankruptcy Court for the District of Delaware to
employ John Ray as their principal officer effective December 7,
2009.

Andrew Remming, Esq., at Cleary Gottlieb Steen & Hamilton LLP, in
Wilmington, Delaware, asserts that the employment of a principal
officer in the Debtors' cases would "help ensure that critical
management functions related to the Debtors' bankruptcy cases and
sale processes are effectively discharged."

The role of Mr. Ray as principal officer is critical to the
Debtors' efforts to support and defend the Debtors' interests
among the various constituencies, to maximize recoveries for
creditors of the Debtors as well as to market and sell their
remaining businesses and assets, Mr. Remming says in court
papers.

Mr. Ray is the senior managing director of Illinois-based Avidity
Partners LLC.  He served as chief administrative officer and
general counsel of Fruit of the Loom from 1998 to 2002, and as
president of Enron Corp. from 2005 to 2009.

As principal officer to the Debtors, Mr. Ray will be tasked to:

  (1) direct and oversee the winding up of the businesses of the
      Debtors and review and guide their interaction with other
      Nortel entities and businesses;

  (2) support and defend the interests of the Debtors' estates
      and their creditors on issues, including purchase price
      and cost allocation, repatriation of cash, cost
      reductions, transition services and related pricing,
      claims resolution, inter-estate disputes between the
      Debtors or among the Debtors and the various Nortel
      entities, compensation, auditing and other administrative
      functions, and any other issues that may affect recoveries
      to creditors of the Debtors' estates;

  (3) receive periodic reports from operational management on
      the provision of transition services and the winding down
      of the Nortel businesses;

  (4) work with all constituents to develop and implement plans
      to monetize remaining assets, strategies to wind down
      Nortel businesses, plans of liquidation or reorganization;

  (5) interact and consult as appropriate with Nortel employees,
      Ernst & Young Inc., the joint administrators, the
      Official Committee of Unsecured Creditors, an ad hoc group
      of bondholders which holds claims against the Debtors,
      and their advisors; and

  (6) meet with and provide periodic reports to the Board of
      Directors of NNI, the Creditors Committee, the steering
      committee of the bondholders' group and the Court.

Mr. Ray will be paid $450 per hour for his services and will be
reimbursed of expenses he incurred in connection with his
employment.

In a statement filed with the Court, Mr. Ray declared that he and
his firm do not hold interests adverse to the Debtors and that
they do not have any connection with the Debtors, their creditors
or any other party with an actual or potential interest in these
Chapter 11 cases.

                          *     *     *

Mr. Ray is neither authorized to act in any other capacity
without further Court order nor authorized to serve as director
of any of the Debtors prior to the effective date of any Chapter
11 plan confirmed in their cases.

Mr. Ray is required to file in Court and provide notice to the
U.S. Trustee and all official committees, reports of compensation
earned and expenses incurred on a monthly basis.  All
compensation will be reviewed by the Court in case an objection
is filed.

In the event the Debtors want Mr. Ray to assume executive officer
positions that are different than what was proposed or to
materially change the terms of the engagement, they are required
to file a motion to modify his employment.  The Debtors are also
authorized to indemnify Mr. Ray on the same terms as provided to
their other officers.

Mr. Ray is not allowed to make any investments in the Debtors or
the reorganized companies for a period of three years after the
conclusion of his employment.

                       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 the Company's 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)


NOVA HOLDING: Has Until March 1 to File Plan of Reorganization
--------------------------------------------------------------
The Hon. Kevin Gross of the U.S. Bankruptcy Court for the District
of Delaware extended Nova Holding Clinton County LLC, et al.'s
exclusive periods to propose a Chapter 11 plan of reorganization
or liquidation and to solicit acceptances of that plan until
March 1, 2010, and April 30, 2010, respectively.

As reported in the Troubled Company Reporter on December 18, 2009,
the Debtors related that they are in engaged in the process of
closing the sale of Nova Biofuels Seneca, LLC, and Nova Biosource
Technologies, LLC, to Clinton County Bio Energy, LLC.  The Debtors
add that after the sale completion, they will complete the
analysis and negotiations with their major creditor constituencies
with respect to the proposed chapter 11 plan.

Based in Seneca, Illinois, Nova Holding Clinton County, LLC, makes
industrial organic chemicals and biological products.  Nova
Holding and certain affiliates filed for Chapter 11 protection on
March 30, 2009 (Bankr. D. Del. Lead Case No. 09-11081).  Michael
B. Schaedle, Esq., Melissa S. Vongtama, Esq., and Josef W. Mintz,
Esq., at Blank Rome LLP, in Philadelphia, represent the Debtors as
counsel.  David W. Carickhoff, Esq., at Blank Rome LLP, is
Delaware counsel to the Debtors.  The Debtors listed between
$10 million and $50 million each in assets and debts.


OPUS EAST: BoA Allowed to Foreclose on Office-Retail Building
-------------------------------------------------------------
Bank of America, N.A., in its capacity as administrative agent
for itself and certain other lenders, won an order from the
Bankruptcy Court lifting the automatic stay so that it can
foreclose on its interest in a newly constructed 12-story, urban
office-retail building in 100 M Street SE, in Washington, D.C.,
owned by Debtor 100 M St. SE LLC.

BofA reasoned that it seeks the foreclosure proceedings because
the Debtors cannot provide adequate protection to its interest
and have no equity in the Property nor any ability to reorganize.

Stuart M. Brown, Esq., at Brown Angell Palmer & Dodge LLP, in
Wilmington, Delaware, relates that 100 M St. SE LLC, one of the
Opus East Debtors, derives its interest in the Property from a
60-year ground lease with Square 743, Inc., the ground lessor,
which holds the fee simple interest in the title to the land
underlying the Property.

Mr. Brown notes that the Debtor own the improvements to and
situated on the Property.  She adds that the Property does not
include the fee to the underlying land, as it is owned by the
Ground Lessor, but does include the Debtor's interest in the
Ground Lease.

                Parties Seek Relief From Order

Ceilings and Partitions, Inc., Custom Glass Services, Inc.,
Mechanical Design Systems, Inc. and Ryan Floors, Inc. sought
relief from the Court's Lift Stay Order.  The Objecting Parties
are contractors and providers of commercial construction and
installation services within the District of Columbia.

Prior to the Petition Date, pursuant to certain construction
contracts with certain of the Opus East Debtors, each of the
Objecting Parties provided improvements to the newly constructed
12-story, urban office-retail building in 100 M Street Office
Building Property.  The Objecting Parties relate that they have
not been paid of their services and as a result, have filed and
perfected mechanics liens on the Property and related
improvements.

Michael J. Joyce, Esq., at Cross & Simon LLC, in Wilmington,
Delaware, points out that BofA asserted in its Lift Stay Motion
that the market value of the Property is less than the amount it
is owed.  BofA has failed to offer any factual support for the
contention, he argues, on behalf of the Objecting Parties.

Mr. Joyce tells the Court that record indicates that the Debtor
may have significant equity in the Property because the Debtor's
Schedules of Assets and Liabilities depicts that the Property is
valued at $64,624,627 and that the BofA's secured claim is
$55,238,015.  He further points out that the Debtors' monthly
operating report filed on October 28, 2009, values the Property
at $64,624,627 and lists BofA's secured claim at $55,238,015.

Mr. Joyce also notes that in September 2009, the Washington
Business Journal reported that Mayfield Gentry, a Detroit pension
fund, was negotiating to buy the Property for $80,000,000.  He
adds that upon information and belief, Mayfield Gentry is still
negotiating to buy the Property.

Against this backdrop, Mr. Joyce asserts that the Objecting
Parties are entitled to a ruling altering or amending the Lift
Stay Order to prevent a "manifest injustice" as a result of
BofA's failure to properly notice its Lift Stay Motion in order
to afford parties-in-interest due process and an opportunity to
be heard; and BofA's failure to provide any facts to support its
contention that no equity remains in the Property.

Mr. Joyce notes that BofA filed its Lift Stay Motion on
December 14, 2009, and the Order was entered on December 21,
2009, which is 10 days prior to the expiration of the required
notice period as set forth under Rules 4001-1 and 9006-1(c) of
the Local Rules of Bankruptcy Procedure for the District of
Delaware.  For this reason, Mr. Joyce maintains that the
Objecting Parties and potentially other parties-in-interest were
deprived of their opportunity to be heard.

In separate filings, the Objecting Parties sought and obtained
the Court's consent to hear their request on January 6, 2010, on
an expedited basis.

                         BofA Responds

Representing BofA, Stuart M. Brown, Esq., at Edwards Angell
Palmer & Dodge LLP, in Wilmington, Delaware, argues that there is
no evidence that the amount listed in the Debtor's schedules, and
copied into the Liquidating Trustee's Monthly Operating Report,
reflects the market value of the Property at the time BofA's Lift
Stay Motion was filed.

Mr. Brown adds that the use of the same figure in the Liquidating
Trustee's monthly report is suggestive of nothing more than that
the Trustee's office copied a figure from the bankruptcy
schedules into a monthly report.

With regard to the Washington Business Journal article cited by
the Objecting Parties, Mr. Brown asserts that the assertions in
the article were wildly inaccurate in all respects.  He notes
that efforts were made by the Liquidating Trustee to discover and
contact the source of the story and have the article retracted as
untrue in September 2009.

"To reiterate, there is presently no viable offer to purchase the
Property -- for $80 million or any other amount -- from anyone,"
Mr. Brown tells the Court.

In September 2009, the Liquidating Trustee commissioned two
broker analyses with a view to engaging a broker to market the
Property, according to Mr. Brown.  The Liquidating Trustee and
BofA subsequently received valuation reports from CB Richard
Ellis and Grubb & Ellis.  As a result of the Brokers' Reports,
all parties, including the Trustee, determined that a stipulation
granting relief from that automatic stay with respect to BofA was
the best course of action for the Debtor's estate, minimizing the
accrual of administrative expenses.

BofA admits that for business reasons, it did not disclose in the
Lift Stay Motion the detail of the Brokers' Reports it received.
In order to resolve the Objecting Parties' request to vacate the
Order, Mr. Brown discloses that BofA is willing to file the
Brokers' Reports with the Court under seal and make them
available to the Objecting Parties' counsel subject to a
protective order and on the understanding that the Objecting
Parties' counsel may discuss their content with his clients, but
will not be disseminated to any third party.

                          About Opus East

Rockville-based Opus East LLC has developed more than 13.3 million
square feet of space since starting operations in 1994.  It filed
for Chapter 7 liquidation in the U.S. Bankruptcy Court for the
District of Delaware.  Opus East LLC listed $100 million to
$500 million in debts, against $50 million to $100 million in
assets in its Chapter 7 petition.

Bankruptcy Creditors' Service, Inc., publishes Opus West
Bankruptcy News.  The newsletter tracks the separate Chapter 11
proceedings of Opus West Corp. and Opus South Corp. and Chapter 7
proceedings of Opus East their related debtor-affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


OPUS SOUTH: Gets March 18 Extension of Exclusive Periods
--------------------------------------------------------
Opus South Corporation sought and obtained an extension of (i) the
period during which it has the exclusive right to file a Chapter
11 plan by 90 days through and including March 18, 2010, and (ii)
the period during which it has the exclusive right to solicit
acceptances of that plan, through and including May 17, 2010.

Victoria Counihan, Esq., at Greenberg Traurig LLP, in Wilmington,
Delaware, informed the Court that no objections were asserted as
of December 30, 2009, as to the Opus South Debtors' request for
an extension of their Exclusive Periods.

Victoria W. Counihan, Esq., at Greenberg Traurig LLP, in
Wilmington, Delaware, asserted that ample cause exists to extend
the Exclusive Periods of the Opus South Debtors.  She contends
that the Opus South Debtors have worked diligently to administer
their estates and since the Petition Date, have focused on
stabilizing properties, obtaining necessary funding, negotiating
and consummating sales of assets, and negotiating various
alternative exit strategies for each particular property with
each property's particular lender.

Opus South Corp. is the management company for all of the Opus
South Debtors whose Chapter 11 cases are still pending and all
the affiliated Opus South Debtors whose cases have previously
been converted to Chapter 7.  It provides employees and
accounting services and conducts general business operations for
all the Debtors.

Ms. Counihan pointed out that Waters Edge One LLC, one of the Opus
South Debtors, has filed a plan of reorganization and has
scheduled a confirmation hearing for the middle of February 2010.
She asserts that Opus South Corp. will need to continue to
provide its management services to Waters Edge through the
effective date of confirmation of its Chapter 11 plan.

Opus South Corp. desires to keep its options available for an
exit strategy for its case, including the right to file a Chapter
11 plan, until all of the other affiliated Debtors for which it
provides management services have finalized their Chapter 11
cases, Ms. Counihan tells the Court.

Ms. Counihan maintained that the extension of the Exclusive
Periods will not harm creditors or other parties-in-interest, as
they will retain the right to seek to terminate the Exclusive
Periods or to oppose any future requests for extensions.

                         About Opus South

Headquartered in Atlanta, Georgia, Opus South Corporation --
http://www.opuscorp.com/-- provides an array of real estate
related services across the United States including real estate
development, architecture & engineering, construction and project
management, property management and financial services.

The Company and its affiliates filed for Chapter 11 on April 22,
2009 (Bankr. D. Del. Lead Case No. 09-11390).  Victoria Watson
Counihan, Esq., at Greenberg Traurig, LLP, represents the Debtors
in their restructuring efforts.  The Debtors propose to employ
Landis, Rath & Cobb, LLP, as conflicts counsel, Chatham Financial
Corporation as real estate broker, Delaware Claims Agency LLC as
claims agent.  The Debtors have assets and debts both ranging from
$50 million to $100 million.

Bankruptcy Creditors' Service, Inc., publishes Opus West
Bankruptcy News.  The newsletter tracks the separate Chapter 11
proceedings of Opus West Corp. and Opus South Corp. and their
related debtor-affiliates. (http://bankrupt.com/newsstand/
or 215/945-7000)


OPUS WEST: Has Nod for SW 119 Settlement Agreement
--------------------------------------------------
Opus West Corp. and its units obtained approval from the
Bankruptcy Court of a compromise and settlement of controversy and
mutual releases with SW 119 Plaza Del Rio Limited Partnership
regarding various claims between the Parties.

According to Clifton R. Jessup, Jr., Esq., at Greenberg Traurig
LLP, in Dallas, Texas, the Parties desire to avoid the expense,
inconvenience, delay, and uncertainty of litigation by
compromising and settling the claims and disputes arising
pursuant to a certain letter agreement among them.

Accordingly, the Parties stipulate that:

  (a) the Letter Agreement will be terminated;

  (b) any amounts owed by the Debtors to SW 119 under the Letter
      Agreement will be forgiven;

  (c) SW 119 will have no obligation to repay any amounts
      previously advanced by the Debtors related to a property
      subject of the Letter Agreement; and

  (d) the Debtors and SW 119 will exchange mutual releases.

Mr. Jessup notes that under the Stipulation, the Debtors will
avoid liability of more than $300,000, and will avoid the fees,
expenses, and risks associated with defending or pursuing the
various claims asserted against it and by it.

                     About Opus West Corporation

Based in Phoenix, Arizona, Opus West Corporation is a full-service
real estate development firm that focuses on acquiring,
constructing, operating, managing, leasing and/or disposing of
real estate development projects primarily located in the western
United States.

Opus West and its affiliates filed for Chapter 11 on July 6, 2009
(Bankr. N.D. Tex. Case No. 09-34356).  Clifton R. Jessup, Jr., at
Greenberg Traurig, LLP, represents the Debtors in their
restructuring efforts.  Franklin Skierski Lovall Hayward, LLP, is
co-counsel to the Debtors. Pronske & Patel, P.C., is conflicts
counsel.  Chatham Financial Corp. is financial advisor.  BMC Group
is the Company's claims and notice agent.  As of May 31, Opus West
-- together with its non-debtor affiliates -- had $1,275,334,000
in assets against $1,462,328,000 in debts.  In its bankruptcy
petition, Opus West said it had assets and debts both ranging from
$100 million to $500 million.

Opus West joins affiliates that previously filed for bankruptcy.
Opus East LLC, a real estate operator from Rockville, Maryland,
commenced a Chapter 7 liquidation on July 1 in Delaware.  Opus
South Corp., a Florida condominium developer based in Atlanta,
filed a Chapter 11 petition April 22 in Delaware.

Bankruptcy Creditors' Service, Inc., publishes Opus West
Bankruptcy News.  The newsletter tracks the separate Chapter 11
proceedings of Opus West Corp. and Opus South Corp. and their
related debtor-affiliates. (http://bankrupt.com/newsstand/
or 215/945-7000)


OTTER TAIL: To Raise About $12 Million Under Reorganization Plan
----------------------------------------------------------------
Jeff Hage at the Daily Journal reports that Otter Tail AG laid out
a reorganization plan, wherein the Company will raise between
$10 million and $12 million in additional capital by selling new
Class B membership unites to existing and new members.

The new shares will be offered at 50 cents per unit, 25% of what
the original Class A shares sold for when the Company was
organized, according to the report.

                  About Otter Tail AG Enterprises

Otter Tail AG Enterprises, LLC, a Minnesota limited liability
company, was organized with the intention of developing, owning
and operating a 55 million gallon per year capacity dry-mill
ethanol plant near Fergus Falls, Minnesota.  The company was in
the development stage until March 2008, when the company commenced
operations.

The Company filed for Chapter 11 relief on Oct. 30 (Bankr. D.
Minn. Case No. 09-61250).  The petition listed assets of
$66.4 million against $86 million in debt, nearly all secured. The
largest secured creditor is AgStar Financial Services, owed
$40.9 million.


OTTER TAIL: Posts $21.5 Million Net Loss in Fiscal 2009
-------------------------------------------------------
Otter Tail AG Enterprises, LLC reported a net loss of
$21.5 million on revenues of $96.0 million for the year ended
September 30, 2009, compared to a net loss of $8.7 million on
revenues of $70.1 million for the year ended September 30, 2008.

The increase in our revenues of approximately $25.9 million, or
37%, was due to the Company's plant only becoming operational in
the second quarter of fiscal 2008.

The increase in the Company's net loss was primarily the result of
the continued poor margin situation in the ethanol industry during
fiscal year 2009, as well as an impairment of plant and process
equipment charge of $12.5 million during the year.

                          Balance Sheet

At September 30, 2009, the Company's balance sheets showed total
assets of $105.2 million, total liabilities of $90.2 million, and
total members' equity of $15.0 million.

The Company's balance sheets at September 30, 2009, also showed
strained liquidity with $13.9 million in total current assets
available to pay $90.2 million in total current liabilities.

A full-text copy of the Company's Form 10-K is available at no
charge at http://researcharchives.com/t/s?4d39

                      Chapter 11 Bankruptcy

The Company suffered significant losses in fiscal 2009 and fiscal
2008 from a dramatic increase in corn costs, reflecting in part
costs attributable to the Company's corn procurement and hedging
arrangements, and historically unfavorable margins.  Beginning in
the third quarter of 2009, these losses, combined with worsening
capital market conditions and a tightening of trade credit
resulted in severe constraints on the Company's liquidity
position.  Faced with these constraints, on October 30, 2009, the
Company filed a voluntary petition for relief under Chapter 11 of
the Bankruptcy Code with the United States Bankruptcy Court for
the District of Minnesota.

The Company's continued operations will be dependent on
successfully emerging from bankruptcy with a court-approved plan
of reorganization, which the Company has yet to submit to the
Bankruptcy Court.

                 About Otter Tail AG Enterprises

Based in Fergus Falls, Minnesota, Otter Tail AG Enterprises, LLC -
- http://www.ottertailethanol.com/-- owns and operates a
nameplate capacity 55 million gallons per year corn dry mill
ethanol plant in Fergus Falls, Minnesota, which became fully
operational in
June 2008.  The plant annually processes approximately 20 million
bushels of corn into 55 million gallons of denatured fuel grade
ethanol, 135,500 tons of dried distillers grains with solubles,
and 65,500 tons of distillers grains with solubles.

The Company filed for Chapter 11 relief on Oct. 30 (Bankr. D.
Minn. Case No. 09-61250).  The petition listed assets of
$66.4 million against $86 million in debt, nearly all secured. The
largest secured creditor is AgStar Financial Services, owed
$40.9 million.


PAETEC HOLDING: Launches 8-7/8% Senior Sec. Notes Offering
----------------------------------------------------------
PAETEC Holding Corp. plans to offer $300 million aggregate
principal amount of its 8-7/8% senior secured notes due 2017 in a
private offering to "qualified institutional buyers".  The net
proceeds from the offering will be used, together with cash on
hand, to repay loans outstanding under the company's existing
credit facilities and to pay related fees and expenses.

The net proceeds from the offering will be used to repay loans
outstanding under the company's existing credit facilities, to pay
related fees and expenses and for general corporate purposes.

The closing of the offering is expected to occur on or about Jan.
12, 2010, subject to satisfaction of customary closing conditions.

                      About PAETEC Holding

PAETEC Holding Corp., through its subsidiaries, provides
integrated communications services, including local and long
distance voice, data, and broadband Internet access services,
primarily to business and institutional customers.  On February 8,
2008, PAETEC Holding completed its combination by merger with
McLeodUSA Incorporated, which became a wholly owned subsidiary of
PAETEC Holding upon completion of the merger.

As of June 30, 2009, PAETEC had in service 223,311 digital T1
transmission lines, which represented the equivalent of 5,359,464
access lines, for over 47,000 business customers in a service area
encompassing 82 of the country's top 100 metropolitan statistical
areas.

At September 30, 2009, the Company had $1.44 billion in total
assets against $1.25 billion in total liabilities.

Effective on June 1, 2009, the Company entered into a Second
Amendment and Waiver to its Credit Agreement with its lenders
which amends the Credit Agreement, dated as of February 28, 2007,
and amended as of June 27, 2007.  The Amendment grants the Company
the right, at its option and subject to specified conditions,
voluntarily to prepay term loans outstanding under its term loan
facilities at any time and from time to time during a period
beginning on the effective date of the Amendment and ending 18
months after such effective date.  The total cash payments to be
made by the Company in connection with such voluntary prepayments
may not exceed $100,000,000, excluding amounts applied to the
payment of accrued and unpaid interest and fees.

The Amendment also modifies some of the restrictive covenants in
the Credit Agreement primarily to permit the Company to issue
senior secured notes and to allow the Company and its subsidiaries
to incur indebtedness and related obligations under such notes if
specified conditions are satisfied.

                          *     *     *

As reported by the Troubled Company Reporter on June 18, 2009,
Standard & Poor's Ratings Services assigned PAETEC Holding's
proposed senior secured notes due 2017 an issue-level rating of
'B' (the same as the corporate credit rating) with a recovery
rating of '3', indicating expectations for meaningful (50%-70%)
recovery in the event of payment default.  At the same time, S&P
affirmed all other ratings on PAETEC, including the 'B' corporate
credit rating.  The outlook is stable.

Moody's Investors Service assigned a B1 rating to the senior
secured note issuance.  Moody's affirmed all other ratings,
including the SGL-1 liquidity rating.  The rating outlook remains
stable.


PATRICK HACKETT: WiseBuys Owners Face Lawsuit Filed by University
-----------------------------------------------------------------
David Winters at Watertown Daily Times reports that St. Lawrence
University sued WiseBuys owner Thomas W. Scozzafava, Assemblywoman
Dierdre K. Scozzafava, and Joseph G. LaChausse to recover $75,620
reportedly owed from a $200,000 loan plus fees and attorney costs.

All WiseBuys stores were converted to stores of Patrick Hacketts
Hardware Co., Mr. Winters says.

Based in New York, Patrick Hacketts Hardware Co. --
http://www.hackettsonline.com/-- operates department stores.  The
company filed for Chapter 11 bankruptcy in November 2009.


PENNSYLVANIA: Table Game OK May Hurt Atlantic City Gaming Revenues
------------------------------------------------------------------
Pennsylvania legalized table games like poker and blackjack, a
negative development for the credit profiles of already-suffering
casino operators in nearby Atlantic City.

For Atlantic City casino operators Harrah's Entertainment, Inc.
(Caa3, negative) and Trump Entertainment Resorts Holdings, LP
(unrated and in bankruptcy), the approval of table games in
Pennsylvania carries negative credit implications.  This is
because these companies -- already suffering from weak gaming
demand and increased competition from slots in Pennsylvania -- are
bound to see further declines in gaming revenues owing to the new
table game legislation.

Atlantic City generates over $1 billion a year from table games,
which accounts for 30% of its total annual gaming revenue.  This
represents a large potential market for Pennsylvania, particularly
for casinos located in the eastern part of the state and in
relatively easy driving distance to Atlantic City.

For casino operators like Las Vegas Sands (B3, negative), Mohegan
Tribal Gaming Authority (B3, stable), and Penn National Gaming,
Inc (Ba2, negative) -- each of which owns a casino in eastern
Pennsylvania -- this is a credit-positive event because of the
additional gaming revenue that will likely come to the state from
Atlantic City.

However, Moody's don't believe that this new legislation, though
positive for Pennsylvania gaming revenues, will be enough to
positively affect the ratings of the companies that own eastern
Pennsylvania gaming facilities.  This is because many of them are
rated B3 or lower and/or generate a majority of their earnings
from casinos outside of Pennsylvania.  Likewise, Moody's don't
think this development will affect the already low ratings of
Harrah's Entertainment, Inc., although it could limit the
company's ability to improve its rating over the longer-term given
it large concentration in Atlantic City.

But beyond the near-term impact of the approval of table games in
Pennsylvania, the move is a symptom of the bigger problem plaguing
the gaming business, namely that there are more states and more
facilities scrapping over an ultimately finite -- and possibly
permanently smaller -- pie.

So while the new legislation will give Pennsylvania casinos a
boost in the short run and will likely hurt gaming revenues in
Atlantic City, it opens up a new front in the battle among states
to make gaming attractions more appealing.  Neighboring
jurisdictions might boost promotional activity and further expand
their own gaming offerings, which could end up costing
Pennsylvania casinos more to stay competitive.  But Moody's doubt
any new costs of doing business will undermine the economics of
allowing table games in the state.


PENN TRAFFIC: Has $85-Mil. Deal to Sell All Assets to Tops Markets
------------------------------------------------------------------
The Penn Traffic Company and its debtor-affiliates are asking the
Bankruptcy Court to approve a global sale transaction with Tops
Markets, LLC, subject to higher or otherwise better offers to be
solicited through a competitive bidding process.

Penn Traffic, with the assistance of Conway, Del Genio Gries &
Co., marketed its assets before filing for bankruptcy.  Price
Chopper has tendered a bid to acquire 22 stores for $54 million,
and Hilco Merchant Resources LLC was guaranteeing Penn Traffic
$19.75 million in exchange for operating going-out-of business
sales at the remaining locations.

According to NetDockets, Penn Traffic is now seeking to withdraw
from those transactions in favor of the Tops Markets deal.
NetDockets relates Penn Traffic's agreement with Tops Markets
provides for a purchase price of $85 million in cash plus the
assumption of certain liabilities and the consensual reduction of
certain claims against Penn Traffic.  Penn Traffic is also seeking
approval of a 3% breakup fee payable to Tops Markets in the event
that it is not the winning bidder for the assets.

                  Price Chopper to Challenge Deal

An article at The Wall Street Journal's Bankruptcy Beat section
says Penn Traffic's unsecured creditors are on board with the
move.  However, the change of course came as a shock to Price
Chopper and Hilco Merchant Resources LLC.

"I thought I read a motion that said exactly the same words just a
few days ago with my client as the buyer," John Longmire, Esq., at
Willkie, Farr & Gallagher LLP attorney representing Hilco, said at
the Wilmington, Del., bankruptcy-court hearing, according to the
Journal.  Mr. Longmire warned that the move called the "entire
premise" of the bankruptcy sale process into question. "What is to
stop them from doing this to Tops?" he asked.

The Journal also relates Raymond L. Fink, Esq., at Harter, Secrest
& Emery LLP, representing Price Chopper, promised to file a
lawsuit related to the development.  "It's appalling, it's a
travesty," Mr. Fink said. "We feel we've been played with, toyed
with, manipulated."

The Journal notes attorneys for Penn Traffic acknowledged that
they'd been cast as the bad guy during the hearing. "We've been
called a lot of bad names today," Michael Foreman, Esq., at Haynes
& Boone LLP, said, according to the Journal.  But that didn't stop
them from cheering the judge's decision to sign off on the new
lead bidder, the Journal says.

                        About Penn Traffic

Syracuse, New York-based The Penn Traffic Company -- dba P&C
Foods, Bi-Lo Foods, and Quality Markets -- operates supermarkets
in Pennsylvania, upstate New York, Vermont, and New Hampshire
under the Bilo, P&C and Quality trade names.  The Company filed
for Chapter 11 bankruptcy protection on November 18, 2009 (Bankr.
D. Delaware Case No. 09-14078).  Ann C. Cordo, Esq., and Gregory
W. Werkheiser, Esq., at Morris, Nichols, Arsht & Tunnell assist
the Company in its restructuring effort.  Donlin Recano is the
Company's claims agent.  The Company listed $150,347,730 in assets
and $136,874,394 in liabilities as of May 4, 2009.

These affiliates also filed separate Chapter 11 petition: Sunrise
Properties, Inc.; Pennway Express, Inc.; Penny Curtiss Baking
Company, Inc.; Big M Supermarkets, Inc.; Commander Foods Inc.; P
and C Food Markets, Inc. of Vermont; and P.T. Development, LLC.


PENN TRAFFIC: Tops Markets Offering $85 Million
-----------------------------------------------
Tops Markets LLC has a contract to buy substantially all of the
remaining assets of Penn Traffic Co. for $85 million, absent
higher and better offers at an auction on January 21.

Bids are due January 19.  The Court will consider approval of the
sale to Tops or to the winning bidder on January 25.

Aside from the $85 million payment, the transaction with Tops
Markets includes a waiver of over $70 million in claims, and the
retention by Penn Traffic of, among other things, cash on hand,
postpetition deposits and accounts receivable for the benefit of
the estate.

The Official Committee of Unsecured Creditors says a sale to Tops
contains numerous advantages over any alternatives presented so
far.  The Committee supports the sale process not only due to the
direct benefit of the purchase price of $85 million which will,
among other things, be more than sufficient to pay the
approximately $52 million owed to the prepetition secured lenders
and enhance the opportunity for possible distributions to general
unsecured creditors, but also due to the indirect benefits of the
proposal, including:

   (1) Tops' intention to operate significant parts of the Company
       as a going concern, which will inure to the benefit of the
       Debtors' employees and likely reduce employee claims;

   (2) C&S Wholesale Grocers, Inc. has agreed to waive certain of
       its claims against the estate, and Tops has agreed to make
       certain funding contributions to the United Food and
       Commercial Workers, Local One and the UFCW Local One
       Pension Fund for certain specified employees such that
       there should be no withdrawal from the plan, thereby
       obviating potentially $72 Million in claims;

   (3) Tops' assumption of certain liabilities;

   (4) the elimination of significant potential lease rejection
       claims as the result of Tops' continued operation of a
       majority of the stores;

   (5) the extended closing date which will eliminate or lessen
       any potential liability relating to the Worker Adjustment
       and Retraining Notification Act ("WARN");

   (6) the retention of assets for the Estates of, among other
       things, the Debtors' cash on hand, postpetition deposits
       and accounts receivable; and

   (7) an auction process to ensure maximization of value.

                         About Penn Traffic

Syracuse, New York-based The Penn Traffic Company -- dba P&C
Foods, Bi-Lo Foods, and Quality Markets -- operates supermarkets
in Pennsylvania, upstate New York, Vermont, and New Hampshire
under the Bilo, P&C and Quality trade names.  The Company filed
for Chapter 11 bankruptcy protection on November 18, 2009 (Bankr.
D. Delaware Case No. 09-14078).  Ann C. Cordo, Esq., and Gregory
W. Werkheiser, Esq., at Morris, Nichols, Arsht & Tunnell assist
the Company in its restructuring effort.  Donlin Recano is the
Company's claims agent. The Company listed $150,347,730 in assets
and $136,874,394 in liabilities as of May 4, 2009.  These
affiliates also filed separate Chapter 11 petition: Sunrise
Properties, Inc.; Pennway Express, Inc.; Penny Curtiss Baking
Company, Inc.; Big M Supermarkets, Inc.; Commander Foods Inc.; P
and C Food Markets, Inc. of Vermont; and P.T. Development, LLC.


PENN TRAFFIC: Creditors Panel Taps Abacus to Advise on Asset Sale
-----------------------------------------------------------------
Abacus Advisors said Monday it has been selected by the Official
Committee of Unsecured Creditors in the Penn Traffic Co. (Pink
Sheets: PTFC) bankruptcy case to advise the Committee on the sale
of the grocery retailer's stores and other assets. The Committee
retained Abacus in "an effort to maximize offers from potentially
interested third parties," according to a Court filing.

Penn Traffic, which is headquartered in Syracuse, N.Y., filed for
protection under Chapter 11 of the Federal Bankruptcy Code on
November 18, 2009 in the U.S. Bankruptcy Court for the District of
Delaware. On January 8, the Committee endorsed for Court approval
an approximate $85 million 'stalking horse' bid by Williamsville,
N.Y.-based Tops Markets LLC to acquire substantially all assets of
Penn Traffic (the "Debtor"), including 79 stores in New York,
Pennsylvania, Vermont and New Hampshire operating under the Bi-Lo,
P&C and Quality trade names.

Under its engagement, services to be provided by Abacus to the
Committee include the following: identify additional proposed
purchasers of select business operations and/or assets; review
(and supplement, if appropriate) the information package that has
already been distributed to potential purchasers; review all
proposals that have been or will be received by the Debtors for
the purchase of the Debtors' businesses and/or assets; assist in
connection with any negotiations with various interested parties
to ensure maximum recoveries; review the bid procedures and
auction process for all and/or parts of the Debtors' businesses
and/or assets; monitor the conduct and results of any sales
efforts in connection with the sale of businesses and/or assets;
assist the Debtors with the reduction, waiver, or mitigation of
secured, administrative, priority, and/or unsecured claims, where
appropriate; assist in negotiations with landlords, mortgages and
other relevant parties in the sale, assignment or termination of
leases and/or owned properties; and provide such other services as
the Committee deem necessary and as are mutually agreed between
Abacus and the Committee.

According to the Court filing, the Committee selected Abacus as
its business consultants/sale advisors "because of its nationally
known experience (particularly through the reputation of Chairman
Alan Cohen) in the disposition of assets, businesses and other
areas to maximize value, as well as its knowledge of business
reorganizations under Chapter 11 of the Bankruptcy Code, its
familiarity with the retail industry and its ability to perform
the needed services effectively, expeditiously and efficiently for
the benefit of the Committee and all unsecured creditors of the
Debtors' estates."

                       About Abacus Advisors

Abacus Advisors -- http://www.abacusadvisors.com/-- is one of the
most experienced turnaround and restructuring firms in the United
States.  The Closter, N.J.-based firm assists companies of all
sizes with comprehensive operational turnarounds, Chapter 11
reorganizations, business wind-downs, real estate dispositions,
and out-of-court restructurings. Founded in 1999, the firm also
has offices in metro Chicago and Boca Raton.


PMP II LLC: Voluntary Chapter 11 Case Summary
---------------------------------------------
Debtor: PMP II, LLC
          dba Paradise Memorial Park
        c/o PRM Realty Group, LLC
        150 North Wacker Dr., Suite 1120
        Chicago, IL 60606-1611

Bankruptcy Case No.: 10-30252

Chapter 11 Petition Date: January 7, 2010

Court: United States Bankruptcy Court
       Northern District of Texas (Dallas)

Judge: Stacey G. Jernigan

Debtor's Counsel: Gerrit M. Pronske, Esq.
                  Pronske & Patel, P.C.
                  2200 Ross Avenue, Suite 5350
                  Dallas, TX 75201
                  Tel: (214) 658-6500
                  Fax: (214) 658-6509
                  Email: gpronske@pronskepatel.com

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

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

The petition was signed by Peter R. Morris.


PNG VENTURES: Court Extends Chapter 11 Plan Filing Until March 8
----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware extended
PNG Ventures, Inc., and its affiliates' exclusive periods to file
a Chapter 11 plan and to solicit acceptances of that plan until
March 8, 2010, and May 7, 2010, respectively.

As reported in the Troubled Company Reporter on December 28, 2009,
the Debtors requested for a plan filing extension until April 7,
2010, and to solicit acceptances until June 6, 2010.

The Debtors related that they have already filed a Plan of
Reorganization and intend to file an amended Plan and Disclosure
Statement shortly.  The Debtors add that the extension of the
exclusive periods is necessary in order to avoid any possibility
of unnecessary litigation and delay created by the filing of a
competing plan.

PNG Ventures, Inc., produces, distributes, and sells liquefied
natural gas to customers within the transportation, industrial,
and municipal markets in the western United States and parts of
Mexico.  The Company sells substantially all of its LNG to fleet
customers, who typically own and operate their fueling stations.
The Company also sells a small volume of LNG to customers for non-
vehicle use.  The Company owns one public LNG fueling station from
which it sells LNG to numerous parties.  The Company produces LNG
at its liquefaction plant in Arizona, but also purchases, from
time to time, LNG supplies from third parties, typically on spot
contracts.  The Company sells LNG principally through supply
contracts that are normally on an index-plus basis, although it
also occasionally enters into fixed-price contracts.

The Company is headquartered in Dallas, Texas.  The LNG business
conducts its operations principally in Arizona and California.
Through the Company's LNG business, the Company offers turnkey
fuel solutions to its customers, including clean LNG fuel (99%
methane gas) and 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.


PRIME GROUP REALTY: To Delist Series B Preferred Shares
-------------------------------------------------------
Prime Group Realty Trust intends to delist its 9% Series B
Cumulative Redeemable Preferred Shares from the New York Stock
Exchange and remove the Series B Preferred Shares from
registration under the Securities and Exchange Act of 1934, as
amended.  In the next few weeks, the Company expects to
voluntarily cease trading on the NYSE.

After voluntarily delisting the Series B Preferred Shares from the
NYSE, the Company expects that the trading of the Series B
Preferred Shares will be reported in the Pink Sheets with Pink OTC
Markets Inc.  The Company also expects to subsequently file a Form
15 with the Securities and Exchange Commission to deregister the
Series B Preferred Shares under Sections 12(b) and 12(g) of the
Exchange Act, and to suspend the reporting obligations of the
Company under Section 15(d) of the Exchange Act.

The actions are consistent with the Company's previous disclosures
and its obligations under the Agreement and Plan of Merger
relating to the July 2005 acquisition of its common shares.  Upon
filing for deregistration with the SEC, the Company will become a
voluntary filer of its reports under the Exchange Act through June
30, 2010 in accordance with its obligations under the Merger
Agreement.  The Company's Board of Trustees has approved the
delisting from the NYSE and deregistration of the Series B
Preferred Shares under the Exchange Act in order to save
significant costs associated with compliance with these regulatory
provisions.

As reported by the Troubled Company Reporter on December 15, 2009,
Prime Group Realty Trust said the Company's Board of Trustees has
determined not to declare a quarterly distribution on its Series B
Preferred Shares for the fourth quarter of 2009, and that the
Board is unable to determine when the Company might recommence
distributions on the Series B Preferred Shares.

                  About Prime Group Realty Trust

Headquartered in Chicago, Illinois, Prime Group Realty Trust
(NYSE: PGEPRB) -- Http://www.pgrt.com/ -- is a fully-integrated,
self-administered, and self-managed real estate investment trust
(REIT) which owns, manages, leases, develops, and redevelops
office and industrial real estate, primarily in metropolitan
Chicago. The Company currently owns 8 office properties containing
an aggregate of 3.3 million net rentable square feet and a joint
venture interest in one office property comprised of approximately
101,000 net rentable square feet. The Company leases and manages
approximately 3.3 million square feet comprising all of its
wholly-owned properties. In addition, the Company is the asset and
development manager for an approximately 1.1 million square foot
office building located at 1407 Broadway Avenue in New York, New
York.


QHB HOLDINGS: Taps White & Case to Handle Reorganization Case
-------------------------------------------------------------
QHB Holdings LLC and its debtor-affiliates ask the U.S. Bankruptcy
Court for the District of Delaware for permission to employ White
& Case LLP, as counsel.

W&C will, among other things:

   -- take all necessary actions to protect and preserve the
      estates of the Debtors, including the prosecution of actions
      on the Debtors' behalf, the defense of any actions commenced
      against the Debtors, the negotiation of disputes in which
      the Debtors are involved, and the preparation of objections
      to claims filed against the Debtors' estates;

   -- provide legal advise with respect the Debtors' powers and
      duties as debtors-in-possession in the continued operation
      of their businesses and the management of their properties;
      and

   -- prepare on behalf of the Debtors all necessary motions,
      applications, answers, orders, and papers in connection with
      the administration and prosecution of the Debtors'
      Chapter 11 cases.

W&C will represent the Debtors in coordination with Fox Rothschild
LLP, the Debtors' proposed counsel.  W&C and Fox Rothschild have
discussed a division of representation responsibilities and will
avoid or minimize duplication of services.

Michael C. Shepard, an attorney at W&C, tells the Court that the
firm received a retainer amounting $250,000 on August 31, 2009,
and $200,000 on September 8, 2009.  W&C also waived any claim
against the Debtors for the payment of outstanding fees and
expenses prior to the petition date.

Mr. Shepard assures the Court that W&C is a "disinterested person"
as that term is defined in Section 101(14) of the Bankruptcy Code.

Mr. Shepard can be reached at:

     White & Case LLP
     Wachovia Financial Center
     200 South Biscayne Boulevard, Suite 4900
     Miami, FL 33131-2352
     Tel: + 1 305 925 4790
     Fax: + 1 305 358 5744/5766

Green Cary, North Carolina-based QHB Holdings LLC and its debtor-
affiliates filed for Chapter 11 on December 4, 2009, (Bankr. D.
Del. Lead Case No. 09-14312).  Eric Michael Sutty, Esq., and
Jeffrey M. Schlerf, Esq., at Fox Rothschild LLP represent the
Debtors in their restructuring efforts.  The Debtors listed assets
and debts both ranging from $500,000,001 to $1,000,000,000.


READER'S DIGEST: Begins Filing Omnibus Claims Objections
--------------------------------------------------------
In their first omnibus claims objection, The Reader's Digest
Association, Inc., and its units pursuant to Section 502 of the
Bankruptcy Code and Rule 3007 of the Federal Rules of Bankruptcy
Procedure, ask the Bankruptcy Court to disallow and expunge 104
duplicate and subsequently amended claims, which totals:

                                     Amount
    Type of Claim                  Asserted
    -------------                  --------
    Gen. Unsecured Claims        $9,632,819
    Priority Claims                 547,613
    Secured Claims                   94,769
    Section 503(b)(9) Claims         39,995

A list of the Duplicate Claims to be disallowed can be obtained
for free at http://bankrupt.com/misc/RDA_1stOmnObj_Duplicate.pdf

The Debtors contend that some of the Duplicate Claims are
identical or substantially identical to another proof of claim
filed in the Chapter 11 cases by the same claimant, or an assignee
of the same claimant.  They also assert that the rest of the
Duplicate Claims have been amended, replaced or superseded by a
subsequently filed proof of claim.  They point out that a claimant
should not obtain multiple recoveries on a single claim.

A hearing to consider the Debtors' objections will be held
February 9, 2010.  Responses are due February 4.

In their second omnibus claims objection, the Debtors ask
the Court to disallow and expunge 42 proofs of claims that have
been satisfied by the Debtors during the case in accordance with a
"first day" order of the Court.  A list of Satisfied Claims to be
disallowed is available for free at:

        http://bankrupt.com/misc/RDA_2ndOmnObj_Satisfied.pdf

The Debtors object to each of the Satisfied Claims because the
claimants no longer assert any claim against the Debtors.

In their omnibus claims objection, the Debtors ask the Court to
disallow and expunge more than 200 claims because they were filed
against multiple Debtors arising from the same transaction.
A list of the Multiple Debtor Claims can be obtained for free
at http://bankrupt.com/misc/RDA_3rdOmnObj_WrongCase.pdf

READER'S DIGEST BANKRUPTCY NEWS provides definitive coverage to
all omnibus claims objections, responses to those objections, and
orders entered by the court in connection with those objections.

               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: Has Deal to Resolve HCL Prepetition Cure Claim
---------------------------------------------------------------
The Reader's Digest Association Inc. and its units ask the Court
to approve a stipulation they entered into with HCL America, Inc.,
and HCL Technologies Limited.

Reader's Digest and HCL entered into a certain Master Services
Agreement dated March 4, 2009, pursuant to which HCL agreed to
provide certain information technology services to Reader's
Digest.  Under the Agreement, HCL Technologies agreed to be
jointly and severally liable for the obligations of HCL America,
subject to the terms of the Agreement.  The Debtors have agreed to
assume the Agreement under their Plan of Reorganization.

The Parties have negotiated the cure amounts that the Debtors must
pay to cure all defaults under the Agreement under Section 365(b)
of the Bankruptcy Code.  They agree that Reader's Digest owes HCL
$13,756,156 for unpaid goods delivered and services performed
prepetition pursuant to the Agreement, and that HCL owes Reader's
Digest $3,000,000 for amounts due under the Agreement.  Reader's
Digest may owe HCL amounts for unpaid goods delivered and services
performed pursuant to the Agreement subsequent to the Petition
Date through the Plan's effective date.

Therefore, the Parties agree that upon the assumption of the
Agreement in accordance with the Plan, and following the approval
of the stipulation and the assumption of the Agreement, Reader's
Digest will pay HCL $10,756,156, which will accomplish the full
and final satisfaction of both the Prepetition Claim and the
Reader's Digest Claim.

The Agreement will be deemed assumed by the Debtors pursuant to
Section 365 on the Effective Date.  Reader's Digest will pay HCL
the Cure Amount in full in cash on or as soon as reasonably
practicable after the Effective Date, and Reader's Digest will pay
HCL the Postpetition Claim in the ordinary course in accordance
with the terms of the Agreement.

The Parties note that nothing in the stipulation will alter the
terms of the Agreement.

               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)


ROYAL BANK: Buys BP Capital's $42MM Claim in Lehman Brothers
------------------------------------------------------------
Two people familiar with the matter told Bloomberg News last week
that billionaire energy investor T. Boone Pickens sold $42 million
of claims he held against Lehman Brothers Holdings Inc. to Royal
Bank of Scotland Plc.

The sources told Bloomberg the claims were held by Mr. Pickens,
81, and his BP Capital LLC.  According to Bloomberg, the sources
asked not to be identified because the transaction is private.
Bloomberg says Jay Rosser, a spokesman for BP Capital based in
Dallas, confirmed the claims had been sold.

Bloomberg notes that creditors have made about $830 billion in
claims against Lehman.

                             About RBS

The Royal Bank of Scotland Group plc (NYSE:RBS) --
http://www.rbs.com/-- is a holding company of The Royal Bank of
Scotland plc (Royal Bank) and National Westminster Bank Plc
(NatWest), which are United Kingdom-based clearing banks.  The
company's activities are organized in six business divisions:
Corporate Markets (comprising Global Banking and Markets and
United Kingdom Corporate Banking), Retail Markets (comprising
Retail and Wealth Management), Ulster Bank, Citizens, RBS
Insurance and Manufacturing.  On October 17, 2007, RFS Holdings
B.V. (RFS Holdings), a company jointly owned by RBS, Fortis N.V.,
Fortis SA/NV and Banco Santander S.A. (the Consortium Banks) and
controlled by RBS, completed the acquisition of ABN AMRO Holding
N.V. (ABN AMRO).  In July 2008, the company disposed its entire
interest in Global Voice Group Ltd.

                           *     *     *

As reported by the Troubled Company Reporter-Europe on Dec. 22,
2009, Fitch Ratings upgraded The Royal Bank of Scotland Group's
(RBS Group) and The Royal Bank of Scotland's Individual Ratings to
'D/E' from 'E' and removed the Rating Watch Positive.  The upgrade
of the Individual Ratings reflects improvements in the group's
capital combined with some progress in restructuring the balance
sheet.

                       About Lehman Brothers

Lehman Brothers Holdings Inc. -- http://www.lehman.com/-- was the
fourth largest investment bank in the United States.  For more
than 150 years, Lehman Brothers has been a leader in the global
financial markets by serving the financial needs of corporations,
governmental units, institutional clients and individuals
worldwide.

Lehman Brothers filed for Chapter 11 bankruptcy September 15, 2008
(Bankr. S.D.N.Y. Case No. 08-13555).  Lehman's bankruptcy petition
listed US$639 billion in assets and US$613 billion in debts,
effectively making the firm's bankruptcy filing the largest in
U.S. history.  Several other affiliates followed thereafter.

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

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

The Bankruptcy Court has approved Barclays Bank Plc's purchase of
Lehman Brothers' North American investment banking and capital
markets operations and supporting infrastructure for
US$1.75 billion.  Nomura Holdings Inc., the largest brokerage
house in Japan, purchased LBHI's operations in Europe for US$2
plus the retention of most of employees.  Nomura also
bought Lehman's operations in the Asia Pacific for US$225 million.

               International Operations Collapse

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

Lehman Brothers Japan Inc. and Lehman Brothers Holdings Japan Inc.
filed for bankruptcy in the Tokyo District Court on September 16.
Lehman Brothers Japan Inc. reported about JPY3.4 trillion
(US$33 billion) in liabilities in its petition.

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


SINOENERGY CORP: Crowe Horwath Raises Going Concern Doubt
---------------------------------------------------------
Crowe Horwath LLP, in Sherman Oaks, Calif., expressed substantial
doubt about Sinoenergy Corporation and subsidiaries' ability to
continue as a going concern after auditing the Company's
consolidated financial statements as of and for the year ended
September 30, 2009.

The independent public accounting firm reported that the Company
has incurred a significant loss and negative operating cash flows
for the year ended September 30, 2009, and as of September 30,
2009, there is negative working capital of $9.1 million.

Sinoenergy Corporation reported a net loss of $13.1 million on net
sales of $41.8 million for the year ended September 30, 2009,
compared to net income of $16.1 million on net sales of
$40.9 million for the year ended September 30, 2008.

Cost of sales for the 2009 was approximately $32.4 million, an
increase of approximately 26% from approximately $25.6 million for
the 2008.  General and administrative expenses hiked $7.8 million,
or 160%.  Interest expense for 2009 was approximately $7.3
million, as compared with $3.5 million for 2008.

                          Balance Sheet

At September 30, 2009, the Company's consolidated balance sheets
showed total assets of $180.6 million, total liabilities of
$117.3 million, minority interests of $17.1 million, and total
shareholders' equity of $46.2 million.

The Company's consolidated balance sheets at September 30, 2009,
also showed strained liquidity with $80.8 million in total current
assets available to pay $89.9 million in total current
liabilities.

A full-text copy of the Company's Form 10-K is available at no
charge at http://researcharchives.com/t/s?4d33

                 Liquidity and Capital Resources

At September 30, 2009, the Company had cash of approximately
$19.7 million (including restricted cash of $1.4 million),
compared to approximately $9.4 million (including restricted cash
of $523,000) at September 30, 2008.  At September 30, 2009, the
Company had a working capital deficiency of approximately
$9.1 million and shareholders' equity of approximately
$46.2 million, compared with positive working capital of
approximately $35.0 million and shareholders' equity of roughly
$55.2 million at September 30, 2008.

At September 30, 2009, the Company was not in compliance with the
financial covenants in the indentures relating to its 12% senior
notes due 2012 in the principal amount of $16,000,000 and 3.0%
senior convertible notes due 2012 in the principal amount of
$14,000,000.  The noteholders waived compliance with the covenants
at September 30, 2009, and through March 31, 2010.

Since September 30, 2009, the Company has paid $14 million in
principal to the holders of its 12% senior notes, with an
additional approximately $2 million being due by December 31,
2009, and the Company has agreed to pay the $14,000,000 plus
interest on the 3% convertible notes following the completion of
the merger with Skywide Capital Management Limited.  In the event
the merger with Skywide is not completed, the Company cannot
assure that its lenders will not require the Company to accelerate
payments of the 3% senior convertible notes in the principal
amount of $14 million.

                      About Sinoenergy Corp.

Based in Beijing, China, Sinoenergy Corporation Sinoenergy
Corporation (Nasdaq: SNEN) --
http://www.sinoenergycorporation.com/-- is a developer and
operator of retail compressed natural gas (CNG) stations as well
as a manufacturer of CNG transport truck trailers, CNG station
equipment, and natural gas fuel conversion kits for automobiles,
in China.  In addition to its CNG related products and services,
the Company designs and manufactures a wide variety of customized
pressure containers for use in the petroleum and chemical
industries.

On October 12, 2009, the Company entered into an agreement with
Skywide Capital Management Limited, pursuant to which the Company
will be merged with and into Skywide.  Upon the effectiveness of
the merger, each issued and outstanding share of the Company's
common stock, other than shares owned by Skywide, will
automatically be converted into the right to receive $1.90 per
share.  Skywide, which is owned by the Company's chairman, Mr.
Tianzhou Deng, and its chief executive officer, Mr. Bo Huang, is
the Company's largest shareholder, owning approximately 39.06% of
the Company's outstanding common stock.


SIX FLAGS: Banks Launch $830 Million Exit Financing
---------------------------------------------------
A source told Kate Haywood at Dow Jones Newswires last week that
JPMorgan Chase & Co., Bank of America Merrill Lynch, Barclays
Capital and Deutsche Bank have launched $830 million of new loans
supporting Six Flags Theme Parks' exit from bankruptcy.

Six Flags filed a fully-funded Plan of Reorganization with the
Bankruptcy Court on December 18, 2009, that includes a $450
million rights offering backstopped by certain bondholders of Six
Flags Operations Inc., an intermediate holding company.  As part
of the Plan, the Company said in a regulatory filing on Thursday
it has mandated JPMorgan, Bank of America, Barclays and Deutsche
Bank as Joint Bookrunners and Joint Lead Arrangers to arrange $830
million in Senior Secured Credit Facilities to finance the
Company's exit from bankruptcy.

The Exit Facilities consist of a five-year $150 million Revolving
Credit Facility and a six-year $680 million Term Loan.  The Plan
also features a financing commitment of $150 million from Time
Warner (related to funding certain obligations) and has the
support of the Steering Committee of the Company's prepetition
secured creditors.  Confirmation of the Plan is expected to occur
in March 2010, with Six Flags expected to emerge from bankruptcy
shortly thereafter.

Six Flags said proceeds of the $680 million Exit Term Loan --
along with the proceeds from the Rights Offering -- will be used
to repay $1.147 billion in prepetition bank debt in cash in full
upon consummation of the Plan and the Company's emergence from
Chapter 11.  Proceeds of the $150 million Exit Revolving Credit
Facility will be used for general corporate purposes throughout
its tenor.  The Company has historically used its revolving credit
facility to fund seasonal working capital needs during its off-
season in the winter and spring months, before it enters the
positive cash flow generating portion of its season following
Memorial Day of each fiscal year.

     Sources and Uses of Funds
     based on 4/2010 emergence

     SOURCES

        Cash Balance Prior to Emergence             $53,000,000
        New Term Loan                               680,000,000
        Rights Offering Proceeds                    450,000,000
        Revolver Draw at Emergence                   88,000,000
                                                 --------------
             Total sources of cash               $1,271,000,000

     USES

        Pay Bank Claims in full                   1,147,000,000
        Minimum Cash Balance                         40,000,000
        Pay Trade Claims in Full                     20,000,000
        Fees and Expenses                            64,000,000
                                                 --------------
             Total uses of cash                  $1,271,000,000

                      Six Flags' Amended Plan

Six Flags' amended Plan, filed on December 18, 2009, is based on a
midpoint enterprise value of $1.4 billion.  The Plan includes the
issuance of $450 million of new equity pursuant to a Rights
Offering supported by a fully-committed backstop and an additional
$150 million delayed draw financing commitment from Time Warner to
mitigate the risks posed by the annual Partnership Parks put
obligations.  From an ongoing operational perspective, the
business plan continues the successful operational strategies
adopted and implemented by current management.  In addition, the
Plan has the support of an informal committee of SFO bondholders,
the Steering Committee of holders of Prepetition Credit Agreement
Claims, and Time Warner, a key stakeholder and the provider of
long term intellectual property rights to the Company.

Under the Plan, the holders of Prepetition Credit Agreement Claims
against SFTP and certain of its wholly-owned domestic subsidiaries
will be paid in full in cash through the proceeds of the Exit Term
Loan in the principal amount of $680 million and the Rights
Offering in the principal amount of $450 million.

SFO bondholders will convert their claims against SFO into
approximately 22.9% of the new common stock to be issued by
reorganized SFI (subject to dilution by the Long-Term Incentive
Plan).  Additionally, all accepting SFO unsecured claimholders who
are accredited investors shall have the right to participate in
the Rights Offering to purchase its limited pro rata share of up
to $450 million of new common stock, representing 69.8% of the new
common stock to be issued by SFI.

SFI bondholders will convert their claims against SFI into
approximately 7.3% of the new common stock (also shared by SFO
bondholders based upon SFI guaranty of SFO unsecured bonds) to be
issued by reorganized SFI (subject to dilution by the Long-Term
Incentive Plan) as well as the SFO guaranty claim.

All existing equity interests in SFI will be cancelled under the
Plan.

A full-text copy of Six Flags' confidential information memorandum
is available at no charge at http://ResearchArchives.com/t/s?4d37

A full-text copy of Six Flags' presentation material related to
the Time Warner facility is available at no charge at
http://ResearchArchives.com/t/s?4d38

                       About Six Flags

Headquartered in New York City, Six Flags, Inc., is the world's
largest regional theme park company with 20 parks across the
United States, Mexico and Canada.

Six Flags filed for Chapter 11 protection on June 13, 2009 (Bankr.
D. Del. Lead Case No. 09-12019).  Paul E. Harner, Esq., Steven T.
Catlett, Esq., and Christian M. Auty, Esq., at Paul, Hastings,
Janofsky & Walker LLP in Chicago, Illinois, act as the Debtors'
lead counsel.  Daniel J. DeFranceschi, Esq., and L. Katherine
Good, Esq., at Richards, Layton & Finger, P.A., in Wilmington,
Delaware, act as local counsel.  Cadwalader Wickersham & Taft LLP,
serves as special counsel.  Houlihan Lokey Howard & Zukin Capital
Inc., serves as financial advisors, while KPMG LLC acts as
accountants.  Kurtzman Carson Consultants LLC serves as claims and
notice agent.  As of March 31, 2009, Six Flags had $2,907,335,000
in total assets and $3,431,647,000 in total liabilities.

Bankruptcy Creditors' Service, Inc., publishes Six Flags
Bankruptcy News.  The newsletter provides gavel-to-gavel coverage
of the Chapter 11 proceedings undertaken by Six Flags Inc. and its
various affiliates.  (http://bankrupt.com/newsstand/or 215/945-
7000).


SKI MARKET: Connecticut Atty. General Wants Gift Cards Honored
--------------------------------------------------------------
Connecticut Attorney General Richard Blumenthal asks the U.S.
Bankruptcy Court to compel Ski Market Ltd., Inc., to honor roughly
$200,000 worth of unused gift cards and other outstanding promises
made to consumers.

Even as Ski Market seeks bankruptcy approval to sell its assets,
it continues to operate stores, but acknowledges on its own
website that it is rejecting gift cards, returns and exchanges.
Mr. Blumenthal said the Company also has refused to return any
deposits made for leased equipment.  Consumers are reportedly
holding at least $200,000 worth of unredeemed gift cards.

"Ski Market is in freefall -- down a very steep slope -- in
betraying consumer trust," Mr. Blumenthal said. "This refusal to
honor gift cards and deposits is particularly unconscionable
because the company sold gift cards as recently as two weeks
before it filed for bankruptcy on Dec. 29, 2009.  Our battle is
uphill, but we will fight for every dollar and cent owed
consumers."

Mr. Blumenthal's office filed the objection at a hearing on
Wednesday at the bankruptcy court in Springfield, Mass., to urge
that the consumer gift cards and other outstanding promises be
honored.

"Ski Market is dooming itself even as it seeks to reorganize --
destroying consumer confidence by denying gift cards and deposits
and reneging on commitments," Mr. Blumenthal said.  "We are
urgently asking the bankruptcy court to compel Ski Market to honor
its promises and respect all gift cards and outstanding deposits
owed to consumers as it works to sell its stores.

"Honoring gift cards and deposits is critical to preserving
consumer confidence as Ski Market seeks to sell its stores."

Ski Market has at least three locations in Connecticut.

                         About Ski Market

Based in Wellesley, Massachusetts, The Ski Market Ltd., Inc., dba
St. Moritz, Underground Snowboard, P-51; National Ski & Bike;
National Ski Wholesalers; and Sports Replay -- filed for Chapter
11 bankruptcy on December 29, 2009 (Bankr. D. Mass. Case No.
09-22502).  Judge Henry J. Boroff presides over the case.  Joseph
H. Baldiga, Esq., at Mirick, O'Connell, DeMallie, Lougee, serves
as counsel.  The Debtor listed $1,000,001 to $10,000,000 in
estimated assets; and $10,000,001 to $50,000,000 in estimated
debts when it filed for bankruptcy.

The Debtor is seeking to sell substantially all of its assets as
part of its bankruptcy.


SKI MARKET: AG Richard Blumenthal Wants to Honor Gift Cards
-----------------------------------------------------------
According to RepublicanAmerican, attorney general Richard
Blumenthal asked a federal judge to compel Ski Market Ltd. Inc. to
honor unused gift cards and other outstanding promises.  The
attorney general stated stores continue to operate but are
rejected gift cards and refuse to return deposits for leased
equipment.  Consumers hold unredeemed gift cards worth at least
$200,000.

Based in Wellesley, Massachusetts, The Ski Market Ltd. Inc. filed
for Chapter 11 bankruptcy protection on December 29, 2009 (Bankr.
D. Mass. Case No. 09-22502).  Joseph H. Baldiga, Esq., Mirick,
O'Connell, Demallie, Lougee, represents the Debtor.  In its
petition, the Debtor listed assets between $1 million and
$10 million, and $10 million and $50 million.


STINSON PETROLEUM: Case Converted to Chapter 7 Liquidation
----------------------------------------------------------
The Hon. Neil P. Olack of the U.S. Bankruptcy Court for the
Southern District of Mississippi converted the Chapter 11 case of
Stinson Petroleum Company Inc. to one under Chapter 7.

The Court related that it is in the best interest of the creditors
that the case is converted to a Chapter 7 case, thereby stemming
the operating losses, avoiding further improper or imprudent
transactions with related entities, and allowing for a prompt and
orderly liquidation.  Additionally, the Court said that Stinson
has failed to timely file monthly operating reports.

Laurel, Mississippi-based Stinson Petroleum Company, Inc., filed
for Chapter 11 on Aug. 4, 2009 (Bankr. S.D. Miss. Case No. 09-
51663).  The Debtor did not file a list of its 20 largest
unsecured creditors when it filed its petition.  Harris Jernigan &
Geno, PPLC, represents the Debtor in its restructuring efforts.
In its petition, the Debtor listed assets and debts both ranging
from $10,000,001 to $50,000,000.

Laurel, Mississippi-based Stinson Petroleum Company, Inc., filed
for Chapter 11 on Aug. 4, 2009 (Bankr. S.D. Miss. Case No. 09-
51663).  The Debtor did not file a list of its 20 largest
unsecured creditors when it filed its petition.  Harris Jernigan &
Geno, PPLC, represents the Debtor in its restructuring efforts.
In its petition, the Debtor listed assets and debts both ranging
from $10,000,001 to $50,000,000.


SYNERGX SYSTEMS: Nussbaum Yates Raises Going Concern Doubt
----------------------------------------------------------
Nussbaum Yates Berg Klein & Wolpow, LLP, in Melville, N.Y.,
expressed substantial doubt about Synergx Systems, Inc. and
subsidiaries' ability to continue as a going concern after
auditing the Company's consolidated financial statements as of and
for the years ended September 30, 2009, and 2008.

"The Company has continued to incur losses from operations.  In
addition, the Company's $2.5 million revolving credit facility
with its bank expired on October 1, 2009, and the Company was in
default of certain covenants in its loan agreement."

The Company reported a net loss of $397,000 on total revenues of
$18,828,000 for the year ended September 30, 2009, compared to a
net loss of $1,278,000 on total revenues of $20,104,000 for the
year ended September 30, 2008.

Product sales decreased $1,078,000 or 8% to $11,997,000 compared
to $13,075,000 in 2008.  The decrease in product sales resulted
from significantly lower shipments of security and communication
products in 2009, which primarily resulted from delays in the
release of subway station security and communication projects by
New York City Transit Authority.

At September 30, 2009, the Company's consolidated balance sheets
showed total assets of $8,422,000, total liabilities of $4,480,000
and total stockholders' equity of $3,942,000.

A full-text copy of the Company's annual report is available at no
charge at http://researcharchives.com/t/s?4d30

                      About Synergx Systems

Based in Syosset, New York, Synergx Systems Inc. --
http://www.synergxsystems.com/-- is engaged in the design,
manufacture, distribution, sale and servicing of fire, life
safety, security, energy management, intercom, audio-video
communication and other systems.

Synergx's business is conducted through subsidiaries in the New
York City metropolitan area.  Synergx conducts its business in New
York principally through Casey Systems Inc., its wholly owned
subsidiary located in New York City and Long Island, New York.


TAYLOR-WHARTON: Plan Confirmation Hearing Set for February 16
-------------------------------------------------------------
Taylor-Wharton International LLC and its affiliated debtors
received approval from the U.S. Bankruptcy Court for the District
of Delaware of the adequacy of their disclosure statement for
their proposed Joint Plan of Reorganization.  The Bankruptcy Court
approval of the Debtors' disclosure statement allows the Debtors
to commence the solicitation of votes for confirmation of their
Plan.

Plan materials and ballots will be mailed on January 11, 2010.
The deadline for returning completed ballots is 5:00 p.m. EST on
February 8, 2010. Objections, if any, to confirmation of the Plan
must be received by the Court and notice parties no later than
February 8, 2010 at 4:00 p.m.  A hearing to consider confirmation
of the Plan is scheduled for February 16, 2010.

"We look forward to putting the plan before our creditors and are
pleased to report we remain on schedule to complete a successful
restructuring by the end of February," said Bill Corbin, chairman
and chief executive officer of TWI.

In addition to the Bankruptcy Court approval of their disclosure
statement, on January 8, 2010, the Debtors received final
authority to continue accessing up to $20 million in debtor-in-
possession financing, provided by a group of lenders led by GE
Capital.  The Debtors will continue to use the financing, along
with cash generated from operations, to implement their Plan, pay
normal operating expenses, and operate their businesses in the
ordinary course.

The Debtors filed voluntary petitions for chapter 11 bankruptcy on
November 18, 2009 in order to implement an agreement in principle
with the holders of their mezzanine senior subordinated secured
notes and holders of their first lien notes to significantly
improve the Company's capital structure and create financial
flexibility. Under the terms of the agreement, the Debtors' debt
obligations will be reduced by more than 50%.

Additionally, upon emergence from chapter 11, the Debtors will
receive improved terms from their lenders and access to new
financing, including a $25 million credit facility. The agreement
also calls for the investment of new equity capital by the
mezzanine holders and the Debtors' financial sponsors, in support
of their overall refinancing strategy. The Debtors expect trade
creditors to be fully compensated.

The disclosure statement includes an overview of the Debtors'
restructuring progress and other information about the Debtors, a
description of distributions to creditors and an analysis of the
feasibility of the Plan, as well as many of the technical matters
required for confirmation of the Plan, such as description of who
is eligible to vote on the Plan and the voting process.

                About Taylor-Wharton International

Taylor-Wharton International, LLC, is the world's leading
technology, service and manufacturing network for gas applications
involving pressure vessels and precision valves.  Taylor-Wharton
International operates three complementary businesses from 16
manufacturing, sales, warehouse and service facilities in six
countries on four continents, and markets its products in over 80
countries worldwide.

The Company filed for Chapter 11 bankruptcy protection on
November 18, 2009 (Bankr. Delaware Case No. 09-14089).  The
Company listed $10,000,001 to $50,000,000 in assets and
$100,000,001 to $500,000,000 in liabilities.

These affiliates of the Company also filed separate Chapter 11
petitions: Alpha One, Inc.; American Welding & Tank, LLC; Beta
Two, Inc.; Delta Four, Inc.; Epsilon Five, Inc.; Gamma Three,
Inc.; Sherwood Valve, LLC; Taylor-Wharton Intermediate Holdings
LLC; Taylor-Wharton International LLC; TW Cryogenics LLC; TW
Cylinders LLC; TW Express LLC; and TWI-Holding LLC.


THORNBURG MORTGAGE: Trustee Fed Up With Lawyers' Fee Structure
--------------------------------------------------------------
Law360 reports that the U.S. trustee overseeing the bankruptcy of
TMST Inc., formerly known as Thornburg Mortgage Inc., has asked
the court to partly terminate a pay structure that lets attorneys
and financial advisers submit fee requests every month.

Based in Santa Fe, New Mexico, Thornburg Mortgage Inc. (NYSE: TMA)
-- http://www.thornburgmortgage.com/-- was a single-family
residential mortgage lender focused principally on prime and
super-prime borrowers seeking jumbo and super-jumbo adjustable
rate mortgages.  It originated, acquired, and retained investments
in adjustable and variable rate mortgage assets.  Its ARM assets
comprised of purchased ARM assets and ARM loans, including
traditional ARM assets and hybrid ARM assets.

Thornburg Mortgage, Inc., and its four affiliates filed for
Chapter 11 on May 1 (Bankr. D. Md. Lead Case No. 09-17787).
Thornburg has changed its name to TMST, Inc.

Judge Duncan W. Keir is handling the case.  David E. Rice, Esq.,
at Venable LLP, in Baltimore, Maryland, has been tapped as
counsel.  Orrick, Herrington & Sutcliffe LLP is employed as
special counsel.  Jim Murray, and David Hilty, at Houlihan Lokey
Howard & Zukin Capital, Inc., have been tapped as investment
banker and financial advisor.  Protiviti Inc. has also been
engaged for financial advisory services.  KPMG LLP is the tax
consultant.  Epiq Systems, Inc., is claims and noticing agent.  In
its bankruptcy petition, Thornburg listed total assets of
$24,400,000,000 and total debts of $24,700,000,000, as of
January 31, 2009.

On October 28, 2009, the Court approved the appointment of Joel I.
Sher as the Chapter 11 Trustee for the Company, TMST Acquisition
Subsidiary, Inc., TMST Home Loans, Inc. and TMST Hedging
Strategies, Inc.


TLC VISION: Files Chapter 11 Plan of Reorganization
---------------------------------------------------
TLC Vision (USA) Corp. and its units filed with the U.S.
Bankruptcy Court a Chapter 11 plan and related disclosure
statement.

The Debtors owe $105 million to secured lenders and an additional
$25 million to other creditors.  According to the Disclosure
Statement, holders of allowed prepetition secured lender claims
aggregating $105 million classified under A4, B3 and C5 claims
will receive their pro rata share of $80 million in the TLC
restructured notes and equity.

Following the effective date, the reorganized Debtors will have
the same corporate structure as existed prior to the effective
date, as may be modified in a manner acceptable by the requisite
prepetition lenders; provided, however, that reorganized TLC
Canada will cease all operations and shall thereafter be placed in
liquidation proceedings in the Canadian Court.

Holders of allowed D.I.P. facility claims, allowed administrative
claims, allowed priority tax claims, allowed other secured,
allowed essential trade claims, allowed other priority claims,
allowed secured claims, allowed general unsecured claims (against
TLC MSI) and allowed TLC MSI common stock and interests will be
unimpaired by the Plan or will be paid in full as required by the
Bankruptcy Code, unless otherwise agreed by the holders of such
claims.  Old TLC USA common stock and interests will be cancelled.

Holders of general unsecured claims against TLC USA will recover
10%.

A copy of the Disclosure Statement is available for free at:

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

A copy of the Plan is available for free at:

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

TLCVision -- http://www.tlcvision.com/-- is North America's
premier eye care services company, providing eye doctors with the
tools and technologies needed to deliver high-quality patient
care. Through its centers' management, technology access service
models, extensive optometric relationships, direct to consumer
advertising and managed care contracting strength, TLCVision
maintains leading positions in Refractive, Cataract and Eye Care
markets.

TLC Vision (USA) Corporation, and two of its corporate affiliates
filed petitions for Chapter 11 on Dec. 21, 2009 (Bankr. D. Del.
Case No. 09-14473).  The petition says assets and debts are
$100 million to $500 million.

The Company's lead U.S. restructuring counsel is the law firm of
Proskauer Rose LLP and Canadian restructuring counsel is the law
firm of Torys LLP.  The Company's financial advisor is Conway Del
Genio Gries & Co., LLC.  Epiq Bankruptcy Solutions is claims and
notice agent.


TRIBUNE CO: Appoints Geoffrey Melick as SVP for Health
------------------------------------------------------
Tribune Company announced the appointment of Geoffrey Melick as
SVP/Health, responsible for developing advertiser solutions and
new advertising and marketing products related to the healthcare
industry.  He will also oversee Healthkey.com, the company's Web
site devoted to healthcare issues.  Mr. Melick's appointment is
effective immediately.

"Spending related to healthcare issues, products and services is
exploding, and our newspapers, television stations and websites
need to be getting an increasingly larger share of it," said Randy
Michaels, Tribune's chief executive officer. "Geoff has tremendous
talent and experience and will lead our efforts to develop better
targeted advertising and marketing solutions related to the
healthcare industry."

Melick joins Tribune from Corbett Accel Healthcare Group (CAHG),
an Omnicom Company, where he served as EVP/Interactive Marketing
and eInnovation.  He also served as managing director at Kinect
Interactive Digital Communications, where he was responsible for
the development of multi-channel strategies and the creation of
online and digital communications.

Melick has extensive experience in developing online advertising
and marketing products and was one of the founding members of
McCann Erickson's Interactive Group in 1989.  While at McCann
Interactive, Melick was a member of the MIT Media Lab, one of the
leading interactive think tanks in the world.  In 1995, he left
McCann to found Two Way Communications, focused on pharmaceutical,
financial and eCommerce marketing.  His clients at Two Way
Communications included Eli Lilly, Pfizer, GlaxoSmithKline and
Johnson & Johnson.

"Tribune has great brands offering a unique opportunity to create
world-class advertising and marketing solutions for healthcare
clients trying to reach a variety of audiences across different
media platforms," said Mr. Melick.  "During the last couple of
years Tribune has developed some very innovative advertising
approaches for healthcare professionals, pharmaceutical companies
and consumers/patients -- but there is a lot of opportunity to do
even more."

                          About Tribune

TRIBUNE is America's largest employee-owned media company,
operating businesses in publishing, interactive and broadcasting.
In publishing, Tribune's leading daily newspapers include the Los
Angeles Times, Chicago Tribune, The Baltimore Sun, Sun Sentinel
(South Florida), Orlando Sentinel, Hartford Courant, Morning Call
and Daily Press.  The company's broadcasting group operates 23
television stations, WGN America on national cable, and Chicago's
WGN-AM.  Popular news and information websites complement
Tribune's print and broadcast properties and extend the company's
nationwide audience.  At Tribune we take what we do seriously and
with a great deal of pride.  We also value the creative spirit and
nurture a corporate culture that doesn't take itself too
seriously.


TRIBUNE CO: ASM Capital Bought Claims in December
-------------------------------------------------
Creditors, from December 16, 2009 to January 4, 2010, notified the
Court that they intend to transfer each of their claims against
the Debtors:

                                                          Claim
Transferor                    Transferee                 Amount
----------                     ----------                ------
Rose Paving Company            ASM Capital, L.P.         23,485

Bitwise Inc                    ASM Capital, L.P.         31,700

Bitwise Inc                    ASM Capital, L.P.         15,800

Toms Forklift Service Inc      Claims Recovery Group LLC  2,452

Sierra Pacific Fleet Service   ASM Capital, L.P.          1,996

G&V Campbell Inc.              ASM Capital, L.P.          1,653

Peninsula United Way           Longacre Opportunity
                               Offshore Fund, Ltd.       30,000

Jeff Sciortino Photography     ASM Capital, L.P.          2,000

PJ Green Inc.                  ASM Capital, L.P.          1,760
Connecticut Daily Newspaper

Association                    ASM Capital, L.P.          7,161

Kroma Printing Industries Corp ASM Capital, L.P.         12,452

Peterson, Peter H              ASM Capital, L.P.          3,362

Standard Mechanical Systems LP ASM Capital, L.P.          1,791

New Direction Services         ASM Capital, L.P.          1,784

Bentley Motors, Inc.           ASM Capital, L.P.          2,719

Mason-Dixon Polling & Research ASM Capital, L.P.          2,740

Columbus Blue Jackets          ASM Capital, L.P.          1,828

Rhino Shield                   ASM Capital, L.P.          2,055

Broadcast Supply Worldwide     ASM Capital, L.P.          4,103

Merchants Credit Guide         ASM Capital, L.P.          6,227

ACCU-GLO Electric of New York  Liquidity Solutions Inc.   3,500

Keller Heartt Co Inc           Liquidity Solutions Inc.   4,565

Prim Hall Enterprises Inc      Liquidity Solutions Inc.   5,393

Mediashop PR Inc               Liquidity Solutions Inc.   1,532

Moeller Printing Company       Sierra Liquidity Fund, LLC   939

Moeller Printing Company       Sierra Liquidity Fund, LLC   281

The Dundalk Eagle              Hain Capital Holdings, Ltd   624

The Dundalk Eagle              Hain Capital Holdings, Ltd 6,594

CPODM Professionals LP         ASM Capital, L.P.         12,084

Habitat Contracting            ASM Capital, L.P.          7,435

Body By Jake Global LLC        United States Debt
                               Recovery III LP           37,500

Hungerfold Aldrin Nichols      United States Debt
and Carter                     Recovery III LP              585

Graphtec Inc                   United States Debt
                               Recovery III LP            1,403

My CRM Director LLC            United States Debt
                               Recovery III LP            4,526

Sunshine Logistics Inc         United States Debt
                               Recovery III LP            1,053

Terminal Corporation           United States Debt
                               Recovery III LP              735

RSHCO Visual Communications    United States Debt
                               Recovery III LP            1,016

PJ Green Inc                   United States Debt
                               Recovery III LP            1,760

L&R Productions                United States Debt
                               Recovery III LP              532

Automated Check Processing     United States Debt
                               Recovery III LP              227

Next Courier                   United States Debt
                               Recovery III LP              214

P&M National Sales             United States Debt
                               Recovery III LP            1,119

SSI Technologies               United States Debt
                               Recovery III LP            1,236

Service Printer Inc            United States Debt
                               Recovery III LP            1,115

Rockwallz.com                  United States Debt
                               Recovery III LP              800

Trail Blazers Inc              United States Debt
                               Recovery III LP           24,727

Arena Media Networks LLC       ASM Capital, L.P.         25,000

Lapin Services                 United States Debt
                               Recovery III LP              430

Kwik Kopy Printing             United States Debt
                               Recovery III LP              292

Lakeshore Helicopters          United States Debt
                               Recovery III LP              521

Sweet Audio Inc                United States Debt
                               Recovery III LP              705

Recycled Pallets Inc           United States Debt
                               Recovery III LP              550

Recycled Pallets Inc           United States Debt
                               Recovery III LP              275

Treat America Limited Of       United States Debt
Indiana                        Recovery III LP              259

RMR Photography                United States Debt
                               Recovery III LP            1,200

Labriola Louis F               United States Debt
                               Recovery III LP              687

Culinart Inc                   ASM Capital, L.P.         90,021

Cleveland Cavaliers            Hain Capital Holdings     25,536

Star Media Enterprises Inc     United States Debt
                               Recovery III LP           11,669

New Coffee In Town             United States Debt
                               Recovery III LP              745

Anything's Possible Events     United States Debt
                               Recovery III LP            7,500

OSA International Inc.         Fair Harbor Capital, LLC   7,110

OSA International Inc.         Fair Harbor Capital, LLC   7,110

Above Par Courier Service      United States Debt
                               Recovery III LP              253

Connecticut Light & Power      Fair Harbor Capital, LLC  13,310

Brickman Group Limited         Fair Harbor Capital, LLC   4,444

                       About Tribune Co.

Headquartered in Chicago, Illinois, Tribune Co. --
http://www.tribune.com/-- is a media company, operating
businesses in publishing, interactive and broadcasting, including
ten daily newspapers and commuter tabloids, 23 television
stations, WGN America, WGN-AM and the Chicago Cubs baseball team.

The Company and 110 of its affiliates filed for Chapter 11
protection on Dec. 8, 2008 (Bankr. D. Del. Lead Case No. 08-
13141).  The Debtors proposed Sidley Austion LLP as their counsel;
Cole, Schotz, Meisel, Forman & Leonard, PA, as Delaware counsel;
Lazard Ltd. and Alvarez & Marsal North Americal LLC as financial
advisors; and Epiq Bankruptcy Solutions LLC as claims agent.  As
of Dec. 8, 2008, the Debtors have $7,604,195,000 in total assets
and $12,972,541,148 in total debts.

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


TRIBUNE CO: Opts to Assume Syndicated Agreements With NBC
---------------------------------------------------------
Debtors Tribune Broadcasting Company, Tribune Broadcast Holdings,
Inc., WGN Continental Broadcasting Company, Tribune Television
Company, Tribune Television Holdings, Inc., Tribune Television
Northwest, Inc., Tribune Television New Orleans, Inc., Channel 39,
Inc., Channel 40, Inc., KSWB, Inc., KTLA Inc., WPIX, Inc., KIAH
Inc., WTXX Inc., and WDCW Broadcasting, Inc., seek the Court's
authority to assume certain amended syndicated program agreements
with Universal City Studios Productions LLP, a subsidiary of NBC
Universal, Inc.

The Tribune Parties, and other Debtors, have prepetition
syndicated program agreements with NBCU --> WHAT IS NBCU?NBC
Universal for general entertainment programming, including the
popular daytime talk show Maury, The Jerry Springer Show, and The
Steve Wilkos Show.  All three programs that are the subject of the
NBC Agreements are original, first-run productions in the Tribune
Parties' daytime programming.  The NBC Agreements allow the
Tribune Parties to broadcast Maury, Jerry Springer, and Steve in
time periods that allow the corresponding Tribune television
station to schedule programming to maximize audience retention
from program to program and to otherwise manage their broadcast
schedules to greatest advantage.

According to Kate J. Stickles, Esq., at Cole, Schotz, Meisel,
Forman & Leonard, P.A., in Wilmington, Delaware, the Tribune
Parties and NBCU have engaged, over the past year, in discussions
regarding the terms for the Tribune Parties' continued broadcast
of Maury, Jerry Springer, and Steve.  As a result of the
discussions, the Tribune Parties have agreed to assume certain of
the NBC Agreements subject to amendments that will extend the
agreements' terms beyond their scheduled termination in September
2010 through September 2012 and reduce the license fees paid to
NBCU over the extended terms.  The Tribune Parties have agreed to
assume 40 of the NBC Agreements, a list of which is available for
free at http://bankrupt.com/misc/Tribune_NBCagreements.pdf

The license fee for Maury will be reduced by 6% and the license
fee for Jerry Springer will be reduced by 12% effective with the
September 2010 season and the license fee for Steve will be
reduced by approximately 36% effective with the September 2009
season.  According to Ms. Stickles, the aggregate savings to the
Tribune Parties from these reductions will exceed $7 million over
the life of the contract terms.

In consideration for the Tribune Parties' assumption of the
amended NBC Agreements to be assumed, NBCU has agreed to waive and
release a portion of the amounts that the Tribune Parties would
otherwise be required to "cure" as a condition of the assumption
of those NBC Agreements.  The Tribune Parties and NBCU agree that
the total prepetition amount owing under the NBC Agreements to be
assumed is $4,933,086.  The parties agree that Tribune will pay
90% of the prepetition amounts owing to NBCU for Maury and Jerry
Springer and 85% of the prepetition amounts owing to NBCU for
Steve, for a total of $4,377,402.  The Tribune Parties will pay
the Cure Amount within 10 business days after the later to occur
of the entry of the order approving the Motion and the parties'
execution of the amendments to the NBC Agreements to be assumed.

                       About Tribune Co.

Headquartered in Chicago, Illinois, Tribune Co. --
http://www.tribune.com/-- is a media company, operating
businesses in publishing, interactive and broadcasting, including
ten daily newspapers and commuter tabloids, 23 television
stations, WGN America, WGN-AM and the Chicago Cubs baseball team.

The Company and 110 of its affiliates filed for Chapter 11
protection on Dec. 8, 2008 (Bankr. D. Del. Lead Case No. 08-
13141).  The Debtors proposed Sidley Austion LLP as their counsel;
Cole, Schotz, Meisel, Forman & Leonard, PA, as Delaware counsel;
Lazard Ltd. and Alvarez & Marsal North Americal LLC as financial
advisors; and Epiq Bankruptcy Solutions LLC as claims agent.  As
of Dec. 8, 2008, the Debtors have $7,604,195,000 in total assets
and $12,972,541,148 in total debts.

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


TRIDENT RESOURCES: Wants Plan Filing Deadline Moved to May 6
------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware will
convene a hearing January 28, 2010, to consider the request of
Trident Resources Corp. and its affiliates for an extension of
their exclusive right to file a chapter 11 plan or plans by 120
days, through and including May 6, 2010; and their exclusive right
to solicit acceptances of that plan, through and including July 6,
2010.

Trident said it received equity investment/plan proposals from key
stakeholder groups in late December, and believes more time is
necessary to allow the Debtors to negotiate an acceptable proposal
and process that will form the basis for moving forward in their
cases.

Trident and its advisors are also working with several providers
of postpetition financing on terms and conditions for a potential
DIP facility, and are engaged in advanced discussions with respect
to the financing.

Trident is also seeking an extension pursuant to Section 365(d)(4)
of the Bankruptcy Code of its deadline to dispose of executory
contracts and non-residential real property leases, by 90 days,
through and including April 6, 2010.

In the U.S., the Debtors hold valuable mineral access rights to
extensive acreage in the Columbia River and Snake River basins
that straddle the stages of Washington, Oregon and Idaho.  The
rights enable the Debtors to explore for and develop hydrocarbon
discoveries on the sites permitted.  The Debtors said the Mineral
Access Rights are valuable assets, and they need time to evaluate
the Rights in the context of confirmation of a bankruptcy exit
plan.

                      About Trident Resources

Calgary, Alberta-based Trident Resources Corp. operates a natural
gas exploration and development company.  The Company and its
affiliates filed for Chapter 11 on Sept. 8, 2009 (Bankr. D. Del.
Case Nos. 09-13150 to 09-13154).  Trident Exploration Corp. and
certain of TEC's Canadian subsidiaries filed an application with
the Court of Queen's Bench of Alberta, Judicial District of
Calgary, under the Companies' Creditors Arrangement Act (Canada).

Trident on December 3, 2009, obtained an extension from the
Canadian Court of the "stay period" in its Canadian proceedings
until January 15, 2010, to allow the Debtors to focus on their
restructuring efforts.

In their petition, the Debtors listed $10,000,001 to $50,000,000
in assets and $500,000,001 to $1,000,000,000 in debts.  As of
October 31, 2009, the Debtors had $374,484,559 in total assets
against $612,233,705 in total liabilities.


TRUMP ENT: Pennsylvania Table Game OK Has Neg. Credit Effects
-------------------------------------------------------------
Pennsylvania legalized table games like poker and blackjack, a
negative development for the credit profiles of already-suffering
casino operators in nearby Atlantic City.

For Atlantic City casino operators Harrah's Entertainment, Inc.
(Caa3, negative) and Trump Entertainment Resorts Holdings, LP
(unrated and in bankruptcy), the approval of table games in
Pennsylvania carries negative credit implications.  This is
because these companies -- already suffering from weak gaming
demand and increased competition from slots in Pennsylvania -- are
bound to see further declines in gaming revenues owing to the new
table game legislation.

Atlantic City generates over $1 billion a year from table games,
which accounts for 30% of its total annual gaming revenue.  This
represents a large potential market for Pennsylvania, particularly
for casinos located in the eastern part of the state and in
relatively easy driving distance to Atlantic City.

For casino operators like Las Vegas Sands (B3, negative), Mohegan
Tribal Gaming Authority (B3, stable), and Penn National Gaming,
Inc (Ba2, negative) -- each of which owns a casino in eastern
Pennsylvania -- this is a credit-positive event because of the
additional gaming revenue that will likely come to the state from
Atlantic City.

However, Moody's don't believe that this new legislation, though
positive for Pennsylvania gaming revenues, will be enough to
positively affect the ratings of the companies that own eastern
Pennsylvania gaming facilities.  This is because many of them are
rated B3 or lower and/or generate a majority of their earnings
from casinos outside of Pennsylvania.  Likewise, Moody's don't
think this development will affect the already low ratings of
Harrah's Entertainment, Inc., although it could limit the
company's ability to improve its rating over the longer-term given
it large concentration in Atlantic City.

But beyond the near-term impact of the approval of table games in
Pennsylvania, the move is a symptom of the bigger problem plaguing
the gaming business, namely that there are more states and more
facilities scrapping over an ultimately finite -- and possibly
permanently smaller -- pie.

So while the new legislation will give Pennsylvania casinos a
boost in the short run and will likely hurt gaming revenues in
Atlantic City, it opens up a new front in the battle among states
to make gaming attractions more appealing.  Neighboring
jurisdictions might boost promotional activity and further expand
their own gaming offerings, which could end up costing
Pennsylvania casinos more to stay competitive.  But Moody's doubt
any new costs of doing business will undermine the economics of
allowing table games in the state.


VALUE CITY: PBGC to Cover $4.3 Million Shortfall in Benefit Plan
----------------------------------------------------------------
Doug Halonen at Business Insurance reports that the Pension
Benefit Guaranty Corp. took over the defined benefit pension plan
of GB Retailers and Gramex Retail Stores Inc., subsidiaries of
Value City Department Stores LLC.

The plans are combined 63% funded with assets of $7.4 million to
cover $11.7 million in liabilities.  The agency expects to cover
the entire $4.3 million shortfall, report notes.

                          About Value City

Headquartered in Columbus, Ohio, Value City Holdings Inc. --
http://www.valuecity.com/-- operates a chain of department stores
in the United States.  The company and eight of its affiliates
filed for Chapter 11 protection on Oct. 26, 2008 (Bankr. S.D.N.Y.
Lead Case No. 08-14197).  John Longmire, Esq., and Lauren C.
Cohen, Esq., at Willkie Farr & Gallagher LLP, represent the
Debtors' in their restructuring efforts.  Epiq Bankruptcy
Solutions LLC is the claims, noticing and balloting agent for the
Debtors.  Glenn R. Rice, Esq., at Otterbourg Steindler Houston &
Rosen, PC, represents the official committee of unsecured
creditors as counsel.  When the Debtors filed for protection from
their creditors, they listed assets and debts between $100 million
and $500 million each.

In November 2008, Judge James M. Peck of the U.S. Bankruptcy Court
for the Southern District of New York granted Value City Holdings
permission to conduct going-out-of-business sales to be managed by
liquidator and financial consultant Tiger Capital Group LLC.


VIKING SYSTEM: Inks Investment Deal With Dutchess Opportunity
-------------------------------------------------------------
Viking Systems Inc. entered into an Investment Agreement with
Dutchess Opportunity Fund II LP to purchase up to $5,000,000 of
the Company's common stock over thirty-six months.

The Company may draw on the facility from time to time, as and
when it determines appropriate in accordance with the terms and
conditions of the Investment Agreement.  The purchase price shall
be set at 96% of the volume weighted average  price of the
Company's common stock during the 5 consecutive trading day period
beginning on the trading day immediately following the date of
delivery of the applicable put notice.  The amount that the
Company is entitled to put in any one notice shall be equal to
either:


  * 200% of the average daily volume of the common stock for the 3
    trading days prior to the applicable Put Notice Date,
    multiplied by the average of the 3 daily closing prices
    immediately preceding the Put Date, or

  * $100,000.

The Investor will not be obligated to purchase shares if the
Investor's total number of shares beneficially held at that time
would exceed 4.99% of the number of shares of the Company's common
stock as determined in accordance with Rule 13d-1 of the
Securities Exchange Act of 1934, as amended.  In addition, the
Company is not permitted to draw on the facility unless there is
an effective registration statement to cover the resale of the
shares.

Pursuant to the terms of a Registration Rights Agreement dated
Jan. 7, 2010, between the Company and the Investor, the Company is
obligated to file a registration statement with the SEC to
register the resale by the Investor of 15,000,000 shares of the
common stock underlying the Investment Agreement on or before 21
calendar days of the date of the Registration Rights Agreement.
The Company is obligated to use all commercially reasonable
efforts to have the registration statement declared effective by
the SEC within 90 days after the registration statement is filed.

                        Going Concern Doubt

The report dated April 15, 2009, from the Company's independent
registered public accounting firm, Squar, Milner, Peterson,
Miranda & Williamson, LLP, on the Company's financial statements
for the year ended December 31, 2008, included a going concern
explanatory paragraph in which they stated that there was
substantial doubt regarding the Company's ability to continue as a
going concern.  The Company's independent auditors pointed to the
Company's significant operating losses and negative operating cash
flows.

                       About Viking Systems

Based in Westborough, Massachusetts, Viking Systems, Inc. (OTCBB:
VKNG.OB) -- http://www.vikingsystems.com/-- is a developer,
manufacturer and marketer of visualization solutions for complex
minimally invasive surgery.  The Company partners with medical
device companies and healthcare facilities to provide surgeons
with proprietary visualization systems enabling minimally invasive
surgical procedures, which reduce patient trauma and recovery
time.


VINEYARD NATIONAL: Files Plan of Liquidation
--------------------------------------------
Vineyard National Bancorp filed with the U.S. Bankruptcy Court on
January 6, 2010, a Joint Plan of Liquidation co-proposed by
management and the official committee of unsecured creditors.

According to the explanatory Disclosure Statement, the Plan
provides for the disposition of all assets of the Debtor's estate
through the establishment of a liquidating trust for the benefit
of the holders of allowed claims.  Holders of secured claims will
retain all legal and contractual rights and will recover 100 cents
on the dollar.  Holders of unsecured claims will have their pro
rata share from remaining cash in the estate.  Holders of equity
interests are expected to recover nothing.

A copy of the Plan is available for free at:

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

A copy of the Disclosure Statement is available for free at:

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

A hearing to consider approval of the adequacy in the information
in the Disclosure Statement is set for January 21.

                      About Vineyard National

Vineyard National Bancorp (NASDAQ: VNBC) (AMEX: VXC.PR.D) --
http://www.vineyardbank.com/-- was the financial holding company,
which provides a variety of lending and depository services to
businesses and individuals through its wholly owned subsidiary,
Vineyard Bank, National Association.

Vineyard Bank was closed July 17 by regulators, which appointed
the Federal Deposit Insurance Corporation as receiver.  To protect
the depositors, the FDIC entered into a purchase and assumption
agreement with California Bank & Trust, San Diego, California, to
assume all of the deposits of Vineyard Bank, N.A., excluding those
from brokers.

As of March 31, 2009, Vineyard Bank, N.A., had total assets of
$1.9 billion and total deposits of approximately $1.6 billion.  In
addition to assuming all of the deposits of the failed bank,
California Bank & Trust agreed to purchase approximately
$1.8 billion of assets.  The FDIC will retain the remaining assets
for later disposition.  California Bank & Trust purchased all
deposits, except about $134 million in brokered deposits, held by
Vineyard Bank, N.A.

Vineyard National Bancorp filed for Chapter 11 on June 21, 2009
(Bankr. C.D. Calif. Case No. 09-26401).


WASHINGTON MUTUAL: District Judge Delays Ruling on Assets Dispute
-----------------------------------------------------------------
U.S. District Court Judge Rosemary Collyer refused to proceed
with a lawsuit filed by Washington Mutual, Inc., which alleges
that the Federal Deposit Insurance Corporation "wrongly seized
and sold certain [of WaMu's] banking assets to JPMorgan Chase &
Co., which paid $1.9 billion to the government in September
2008," Dow Jones Newswires reports.

In a seven-page written order, Judge Collyer noted that she is
not proceeding with the Lawsuit "while similar litigation unfolds
in a federal bankruptcy court in Delaware that is further along
in its deliberations," according to the report.

The Assets Dispute is currently the core of an adversary
proceeding in WaMu's Chapter 11 cases, where WaMu asserts that
JPMorgan purchased substantially all of the Washington Mutual
Bank assets from the FDIC and subsequently, assumed all of WMB
fsb's deposit liabilities by merging WMB fsb with JPMorgan's own
banking operations.

WaMu had asked Judge Collyer to stay the litigation in her court.
WaMu and its creditors would prefer to have many issues in the
case resolved in the Delaware bankruptcy proceedings.  The FDIC,
on the other hand, had asked Judge Collyer to proceed with her
consideration of the case and to dismiss most portions of WaMu's
lawsuit, the report notes.

Judge Collyer instead directed the Parties "to report to her on
the status of the bankruptcy proceedings every 120 days."

                     About Washington Mutual

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).


WASHINGTON MUTUAL: U.S. Trustee Seeks List of Equityholders
-----------------------------------------------------------
Section 1102(a)(1) of the Bankruptcy Code obliges the U.S.
Trustee to appoint an official committee of unsecured creditors
in a Chapter 11 case and has the discretion to appoint additional
committees of creditors or of equity security holders "as the
[U.S. Trustee] deems appropriate."

Under Sections 1107(a), 1106(a), and 704(a) of the Bankruptcy
Court, Washington Mutual, Inc., and WMI Investment Corp., are
obligated to "furnish such information concerning the estate[s]
and the estate[s'] administration as is requested by a party-in-
interest" unless otherwise ordered by the Court.

By this motion, Roberta A. DeAngelis, Acting United States
Trustee for Region 3, asked Bankruptcy Judge Mary F. Walrath for
the District of Delaware to direct WaMu to produce a "sortable
list of equity security holders."

The U.S. Trustee has decided to solicit interest from equity
security holders of WaMu interested in serving on an official
committee.  To aid in the solicitation, the U.S. Trustee
requested the Debtors to produce a sortable electronic version of
the comprehensive Equity Security Holders List served by the
Debtors to the U.S. Trustee, Joseph J. McMahon, Jr., Esq., at the
U.S. Department of Justice, in Wilmington, Delaware, related.
He, however, noted that the Debtors have not complied with the
U.S. Trustee's request.

The Debtors' failure timely to provide information or attend
meetings reasonably requested by the U.S. Trustee are grounds for
conversion or dismissal of the Debtors' Chapter 11 cases under
Section 1112(b) of the Bankruptcy Code, Mr. McMahon emphasized.

At the U.S. Trustee's request, the Court limited notice of the
Equity Holders List Motion to the Debtors' co-counsel given the
nature of the relief requested in the Motion.  The Court also
convened a hearing last December 18, 2009, to consider the U.S.
Trustee's request.

Absent the December 18 hearing, the U.S. Trustee may have been
unable to solicit interest in forming an official committee of
equity security holders and result in the prejudice to the
interests of that constituency, given that there are a number of
affirmative claims the Debtors are asserting that may be the
subject of settlement negotiations, Mr. McMahon told the Court.
"The interests of equity need to be protected with respect to
those proceedings."

No objections were asserted against the U.S. Trustee's request.
Following the December 18 hearing, the Debtors noted that a Court
order on the Motion "is due under certification of counsel."

                     About Washington Mutual

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).


WASHINGTON MUTUAL: U.S. Trustee Sets Meeting to Form Equity Panel
-----------------------------------------------------------------
Roberta A. DeAngelis, Acting United States Trustee for Region 3,
was scheduled to convene an organizational meeting to form a
Committee of Equity Security Holders on January 11, 2010, at
1:00 p.m., at DoubleTree Hotel located at 700 King Street, in
Wilmington, Delaware.

To increase participation in the Chapter 11 proceeding, Section
1102 of the Bankruptcy Code authorizes the U.S. Trustee to
appoint a committee of equity security holders in a debtor's case
when appropriate, according to an announcement posted on the
Region 3 Web site.

The Debtors have filed a list of their largest equity security
holders, who may be eligible to serve on the Equity Committee.
Equity committees ordinarily consist of persons or entities that
hold the seven largest amounts of equity securities of a debtor.
There must be at least three equity security holders willing to
serve in order to form an Equity Committee.

When formed, an Equity Committee should elect a chairperson and
may adopt by-laws.  As a party-in-interest, the Equity Committee
may be heard on any issue in a debtor's bankruptcy proceeding.
Rule 2002(i) of the Federal Rules of Bankruptcy Procedure
requires that an Equity Committee or its authorized agent receive
all notices concerning motions and hearings in the bankruptcy
proceeding.

Members of an Equity Committee are fiduciaries who represent all
equity security holders.  Section 1103 of the Bankruptcy Code
provides that an Equity Committee may consult with a debtor,
investigate the debtor and its business operations, and
participate in the formulation of a plan of reorganization.  The
Equity Committee may also perform other services as are in the
interests of the equity security holders.

Members of the Equity Committee may be required by the U.S.
Trustee to submit periodic certifications of their equity
interest while a debtor's bankruptcy case is pending.  Equity
security holders wishing to serve as fiduciaries on any official
committee are advised that they may not purchase, sell or
otherwise trade in a debtor's securities while they are committee
members absent a Court order.

Subject to the approval of the Bankruptcy Court, an Equity
Committee may employ one or more attorneys, accountants or other
professionals, who may be compensated from assets of a debtor's
estate pursuant to Section 330 of the Bankruptcy Code.

"Formation of [an Equity] Committee [in the Chapter 11 case of
Washington Mutual Inc.] would be a victory in a hard-fought
battle for WaMu's millions of worldwide common shareholders and
would have widespread implications for the future of the
bankruptcy case," according to Puget Sound Business Journal.

"The common shareholders don't stand a chance without the equity
committee," the report says, citing a statement from a
shareholder.

                     About Washington Mutual

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).


WHITE ENERGY: Chapter 11 Plan Facing Objections from Creditors
--------------------------------------------------------------
Law360 reports that White Energy Inc.'s proposed Chapter 11 plan,
which seeks to restructure $150 million in debt and give lenders
the new stock in the company, has provoked resistance from Texas
tax authorities as well as creditors concerned about rushing a
vote on the disclosure statement.

Headquartered in Dallas, Texas, White Energy, Inc. --
http://www.white-energy.com/-- owns three ethanol plants.  White
Energy's plants have a combined capacity of producing 240 million
gallons of ethanol a year, making it one of the 10 largest ethanol
producers in the U.S. and the second-largest gluten maker.  Two
plants are in Texas with the third in Kansas.  White spent $323
million building the plants in Texas.

The Company and its debtor-affiliates filed for Chapter 11 on
May 7, 2009 (Bankr. D. Del. Lead Case No. 09-11601).  Michael R.
Lastowski, Esq., at Duane Morris LLP, represents the Debtors in
their restructuring efforts.  The Debtors tapped The Garden City
Group Inc. as claims agent.  On the petition date, White Energy
disclosed assets and debts ranging from $100 million to
$500 million.


YRC WORLDWIDE: Moody's Changes Default Rating to 'Caa2'
-------------------------------------------------------
Moody's Investors Service revised YRC Worldwide Inc.'s Probability
of Default Rating to Caa2 from Ca\LD, and the ratings on the
company's convertible senior notes due 2023 and YRC Regional
Transportation, Inc.'s 8-1/2% notes due 2010 to Caa3 from Ca.  In
a related action Moody's affirmed YRC's Caa3 corporate family
rating.  The ratings outlook is stable.

YRC's PDR was raised by two notches to Caa2 in recognition of a
reduction in default risk over the next 12 months that can be
ascribed to the recent completion of an exchange of debt for
equity.  This exchange provided important relief to YRC in two
ways.  First, the retirement of senior notes significantly reduced
the amount of debt repayment that that the company would face in
2010, either through maturity or cash conversion provisions.
Secondly, through the amendment of its bank credit facility that
was contingent on completion of the exchange, YRC obtained a
deferral of cash interest payment through 2010, while re-setting
financial covenants to levels in-line with operating plans.
However, the Caa2 PDR reflects Moody's belief that the company
continues to face substantial risk and will be challenged to
significantly improve its financial performance despite what is
expected to be a period modest recovery in trucking demand over
the near term.  Moreover, Moody's notes that YRC must still
achieve a refinancing of about $45 million of senior notes that
mature in April 2010; under agreements with bank lenders YRC is
precluded from using existing financial resources to repay the
notes making it imperative that a refinancing plan be implemented
in the near term.

The Caa3 corporate family rating is one notch below YRC's PDR,
reflecting Moody's assessment that debt holders will experience
substantial loss in the event of default.  Although funded debt
has been materially reduced through the exchange, YRC still has
substantial debt and pension liabilities that are considered in
recovery analysis per Moody's Loss Given Default ('LGD')
methodology.  Multi-employer pension plan liabilities alone, which
Moody's estimate to be over $3 billion, represents approximately
two-thirds of the liabilities considered in YRC's LGD waterfall.
As such, Moody's uses a 35% family recovery assumption in the
application of LGD methodology towards YRC's ratings.

YRC's unsecured notes, comprising $45 million of Senior Notes and
$22 million of Convertible Notes, are rated Caa3, which is one
notch below the PDR and the same as the corporate family rating.
This reflects the substantial portion of senior unsecured
liabilities in the company's liability structure that rank equally
with these notes.  Because of the lower family recovery
assumption, along with a substantial amount of senior secured bank
debt ranking ahead of unsecured liabilities, Moody's believes that
note holders would face substantial loss in the event of default,
as indicated by the Loss Given Default Assessment of LGD-5.

On December 31, 2009, YRC announced the completion of an offer to
exchange a sizable majority of the Senior Notes and the
Convertible Notes for common and preferred equity.  As a result of
this exchange, the company was able to substantially lower its
funded debt while obtaining important near term liquidity relief.
However, despite the near term benefits consequential to the
exchange, Moody's remains concerned about the company's ability to
improve its financial condition to sustain adequate liquidity and
cash flow beyond this year.  While 2010 results are expected to
improve sufficiently to generate positive free cash flow by the
end of the year, much of this achievement will be facilitated by
deferrals of interest and fees as well as cessation of pension
plan payments through the year.  The relief to liquidity that
ensues from these provisions will expire at the end of 2010.  In
addition, since the company has substantially reduced its capital
expenditures over the past few years, and will likely continue to
do so through 2010, Moody's believes that fleet investment
requirements will become more onerous starting in 2011.  This
suggests that the company will need to show consistent and
substantial improvement in revenue growth and profitability by
2011 in order to meet a higher cost structure going forward.

The stable outlook takes into account Moody's expectations for
modest improvement in volume and yield over the next 12-18 months,
albeit from very weak levels experienced in 2009, which should
help the company to meet its operating plans and generate positive
free cash flow through 2010 while achieving prescribed financial
covenant levels.  The ratings could face downward pressure if the
company were unable to improve operating results sufficient to
generate free cash flow over the near term, or if the company were
to face difficulty in refinancing the repayment of the Senior
Notes due April 2010.  Ratings or their outlook could be revised
upward if the company were to demonstrate that they could generate
sustainable positive free cash flow, not only in 2010 but also in
2011, when certain cash interest payments and pension payments
potentially resume.

Upgrades:

Issuer: USF Corporation

  -- Senior Unsecured Regular Bond/Debenture, Upgraded to Caa3
     from Ca

Issuer: YRC Worldwide Inc.

  -- Probability of Default Rating, Upgraded to Caa2 from Ca/LD

  -- Senior Unsecured Conv./Exch.  Bond/Debenture, Upgraded to
     Caa3 (LGD5/80%) from Ca

YRC's ratings were assigned by evaluating factors Moody's believe
are relevant to the credit profile of the issuer, such as i) the
business risk and competitive position of the company versus
others within its industry, ii) the capital structure and
financial risk of the company, iii) Moody's projections of the
company's performance over the near to intermediate term, and
iv) management's track record and tolerance for risk.  These
attributes were compared against other issuers both within and
outside of YRC's core industry and YRC's ratings are believed to
be comparable to those of other issuers of similar credit risk.

The last rating action was on December 31, 2009, when Moody's
revised YRC's probability of rating to Ca/LD.

YRC Worldwide Inc. is a less-than-truckload trucking company
headquartered in Overland Park, Kansas.


* Mark Kindy Joins Alvarez & Marsal as Managing Director
--------------------------------------------------------
Forensic technology and security services specialist Mark Kindy
has joined Alvarez & Marsal's Dispute Analysis & Forensic Services
as a managing director based in New York.

Mr. Kindy brings more than 20 years of litigation, discovery and
technology experience concentrating on electronic discovery
management for corporations and law firms.  He focuses on
assisting clients to manage and reduce costs across all aspects of
litigation readiness, technology, data preservation and discovery.
Mr. Kindy is currently assisting the Lehman Bankruptcy estate and
his previous clients have included NEC, HCA, CitiCorp, Johnson &
Johnson, R.J. Reynolds and numerous Am Law 250 law firms.

Al Lakhani, head of the firm's Forensic Technology practice, said,
"Mark has an extensive background working with companies and their
legal advisers to address complex financial, technology and data
preservation issues, as well as dealing with disputes or
regulatory probes."  Mr. Lakhani continued, "With the economic and
regulatory environment leading to increased levels of litigation
and investigation, his expertise will be a great addition to our
team, which is being frequently called upon to bring our
experience to bear in a variety of contentious situations."

Prior to joining A&M, Mr. Kindy spent time with global consulting
firms and leading eDiscovery Service Providers in executive
management, partner and managing director roles, including tenures
with Merrill Corporation, FTI Consulting and Andersen.

Mr. Kindy earned a bachelor's degree in accounting, with high
distinction, from Indiana University.  He is a CPA in Ohio and
Arizona, and is also on the board of the Darien Technology &
Community Foundation (DT&CF).

Since 1983, Alvarez & Marsal (A&M) --
http://www.alvarezandmarsal.com-- a global professional services
firm, has set the standard for working with organizations to solve
complex problems, improve performance, drive critical change and
maximize value for stakeholders.  The firm has 1,600 professionals
in offices across North America, Europe, the Middle East, Asia and
Latin America.

A&M has amassed a diverse group of seasoned professionals with
deep financial, accounting, economic, regulatory, industry and
technical expertise around the globe who provide investigation and
litigation services in cases such as Lehman Brothers and
Washington Mutual.  This group includes forensic accountants;
certified public accountants and chartered accountants; certified
fraud examiners; former chief executives; former SEC, Financial
Services Authority and Office of the Comptroller of the Currency
professionals; PhD economists; interim management professionals;
banking and securities professionals; chartered financial
analysts; and forensic technology specialists.  A&M provides
critical assistance in litigation and arbitration, financial
investigations and restatements, and forensic technology.

Alvarez & Marsal has been honored numerous times by the Turnaround
Management Association and has been recognized as one of the Best
Firms to Work For by Consulting magazine.


* Large Companies with Insolvent Balance Sheets
-----------------------------------------------

                                                        Total
                                               Total   Share-
                                  Total      Working holders'
                                 Assets      Capital   Equity
  Company            Ticker       ($MM)        ($MM)    ($MM)
  -------            ------      ------      ------- --------
AUTOZONE INC         AZO US       5,386         (186)    (484)
DUN & BRADSTREET     DNB US       1,600         (182)    (720)
BOEING CO-CED        BA AR       58,667       (1,822)    (877)
CLOROX CO            CLX US       4,598         (665)     (47)
BOEING CO            BA US       58,667       (1,822)    (877)
MEAD JOHNSON         MJN US       1,964          502     (698)
BOEING CO            BAB BB      58,667       (1,822)    (877)
NAVISTAR INTL        NAV US      10,027        1,563   (1,739)
BOARDWALK REAL E     BEI-U CN     2,406          -        (37)
UNISYS CORP          UIS US       2,741          187   (1,146)
BOARDWALK REAL E     BOWFF US     2,406          -        (37)
TAUBMAN CENTERS      TCO US       2,607          -       (467)
CHOICE HOTELS        CHH US         353          (13)    (133)
LINEAR TECH CORP     LLTC US      1,466          993     (164)
WEIGHT WATCHERS      WTW US       1,077         (329)    (748)
WR GRACE & CO        GRA US       3,937        1,095     (312)
MOODY'S CORP         MCO US       1,874         (306)    (648)
ARTIO GLOBAL INV     ART US         280          -        (33)
CABLEVISION SYS      CVC US      10,128         (112)  (5,193)
IPCS INC             IPCS US        559           72      (33)
AFFYMAX INC          AFFY US        145            7       (3)
PETROALGAE INC       PALG US          3           (7)     (40)
VERMILLION INC       VRMLQ US         7           (3)     (25)
IMS HEALTH INC       RX US        2,111          231      (43)
DISH NETWORK-A       DISH US      8,659          711   (1,381)
TENNECO INC          TEN US       2,939          233     (213)
SUN COMMUNITIES      SUI US       1,189          -        (95)
KL ENERGY CORP       KLEG US          5           (7)      (3)
HEALTHSOUTH CORP     HLS US       1,754           36     (535)
SUCCESSFACTORS I     SFSF US        181            3       (3)
ARTIO GLOBAL INV     A1I GR         280          -        (33)
REVLON INC-A         REV US         802          105   (1,043)
NATIONAL CINEMED     NCMI US        608           85     (505)
CHENIERE ENERGY      CQP US       1,919           28     (472)
OCH-ZIFF CAPIT-A     OZM US       1,976          -        (88)
INTERMUNE INC        ITMN US        157           93      (83)
REGAL ENTERTAI-A     RGC US       2,512          (14)    (259)
AGA MEDICAL HOLD     AGAM US        333           29      (48)
JUST ENERGY INCO     JE-U CN      1,378         (392)    (350)
VENOCO INC           VQ US          715          (13)    (169)
THERAVANCE           THRX US        183          124     (175)
OVERSTOCK.COM        OSTK US        144           34       (3)
UAL CORP             UAUA US     18,347       (2,111)  (2,645)
PALM INC             PALM US      1,327           61     (151)
FORD MOTOR CO        F US       205,896       (9,751)  (7,270)
ARVINMERITOR INC     ARM US       2,508           27   (1,248)
KNOLOGY INC          KNOL US        644           21      (42)
BLOUNT INTL          BLT US         488           29      (22)
INCYTE CORP          INCY US        473          358     (199)
BLUEKNIGHT ENERG     BKEP US        317           (4)    (134)
CARDTRONICS INC      CATM US        457          (42)      (8)
TALBOTS INC          TLB US         840           (4)    (191)
SANDRIDGE ENERGY     SD US        2,311            1     (191)
AMER AXLE & MFG      AXL US       1,953           33     (740)
WORLD COLOR PRES     WC CN        2,641          479   (1,736)
WORLD COLOR PRES     WC/U CN      2,641          479   (1,736)
DOMINO'S PIZZA       DPZ US         444          107   (1,350)
EXTENDICARE REAL     EXE-U CN     1,655          126      (48)
UNITED RENTALS       URI US       3,895          312      (18)
DEXCOM               DXCM US         54           26       (9)
CENVEO INC           CVO US       1,601          203     (179)
SALLY BEAUTY HOL     SBH US       1,491          342     (614)
CENTENNIAL COMM      CYCL US      1,481          (52)    (926)
JAZZ PHARMACEUTI     JAZZ US        102           (9)     (82)
ACCO BRANDS CORP     ABD US       1,078          217     (103)
MANNKIND CORP        MNKD US        289           35       (2)
AMR CORP             AMR US      25,754       (1,448)  (2,859)
AFC ENTERPRISES      AFCE US        116           (0)     (23)
FORD MOTOR CO        F BB       205,896       (9,751)  (7,270)
CYTORI THERAPEUT     CYTX US         25           11       (1)
OSIRIS THERAPEUT     OSIR US        111           49       (3)
EXELIXIS INC         EXEL US        421           92     (143)
PDL BIOPHARMA IN     PDLI US        264          (16)    (242)
SELECT COMFORT C     SCSS US         82          (69)     (39)
PROTECTION ONE       PONE US        628           29      (83)
SIGA TECH INC        SIGA US          8           (4)     (11)
ZYMOGENETICS INC     ZGEN US        243           59      (22)
RURAL/METRO CORP     RURL US        295           62     (102)
EPICEPT CORP         EPCT SS         12            6       (5)
WARNER MUSIC GRO     WMG US       4,070         (650)    (143)
DELCATH SYSTEMS      DCTH US          7           (5)      (5)
VIRGIN MOBILE-A      VM US          307         (138)    (244)
US AIRWAYS GROUP     LCC US       7,744         (552)    (260)
SINCLAIR BROAD-A     SBGI US      1,629          (18)    (132)
MEDIACOM COMM-A      MCCC US      3,722         (254)    (435)
CELLDEX THERAPEU     CLDX US         48           14       (2)
QWEST COMMUNICAT     Q US        20,225          766   (1,031)
LIN TV CORP-CL A     TVL US         773            7     (188)
EASTMAN KODAK        EK US        7,483          935     (651)
HOVNANIAN ENT-A      HOV US       2,025        1,261     (316)
STEREOTAXIS INC      STXS US         40            1      (15)
CC MEDIA-A           CCMO US     17,696        1,508   (7,021)
DYAX CORP            DYAX US         52           24      (49)
SEALY CORP           ZZ US        1,032          146     (115)
ENERGY COMPOSITE     ENCC US        -             (0)      (0)
GLG PARTNERS-UTS     GLG/U US       467          168     (277)
PRIMEDIA INC         PRM US         241          (14)    (111)
CHENIERE ENERGY      LNG US       2,789          204     (408)
CINCINNATI BELL      CBB US       2,011           22     (614)
NPS PHARM INC        NPSP US        155           72     (222)
GLG PARTNERS INC     GLG US         467          168     (277)
CINRAM INTERNATI     CRW-U CN       937          109       (2)
ADVANCED BIOMEDI     ABMT US          0           (1)      (1)
QUANTUM CORP         QTM US         502           80      (99)



                            *********

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.  Marites Claro, Joy Agravante, Rousel Elaine Tumanda, 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 2010.  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 ***