TCR_Public/100203.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

            Wednesday, February 3, 2010, Vol. 14, No. 33

                            Headlines


ABITIBIBOWATER INC: Bridgewater Unit Files for Administration
ADVANCED MICRO: Frank Clegg Won't Stand for Re-election
AFFILIATED MEDIA: Taps Sitrick as Communications Consultants
AFFILIATED MEDIA: Taps Wilkinson Barker as Special Counsel
AFFILIATED MEDIA: Wants Morris Nichols as Bankruptcy Co-Counsel

ALLEN CAPITAL: Section 341(a) Meeting Scheduled for March 4
ALTEGRITY INC: S&P Puts 'B' Corp. Rating on CreditWatch Negative
AMBAC FINANCIAL: Board Increases Executives' Base Salary for 2010
ASTRIN PROPERTIES: Case Summary & 2 Largest Unsecured Creditors
ATRIUM CORP: Gets Interim Okay to Sell Accounts Receivable

AVIS BUDGET: Amends, Restates Contract with CEO Ronald Nelson
BARBARA ANNE LISS: Case Summary & 4 Largest Unsecured Creditors
BERNIE'S AUDIO: Court Denies Committee's Ch. 7 Conversion Motion
BERNIE'S AUDIO: U.S. Trustee Appoints 3-Member Creditors Panel
BIRCH COMMUNICATIONS: Moody's Withdraws 'B3' Corp. Family Rating

BORDERS GROUP: May Consider Bankruptcy or Liquidation
BOSTON SCIENTIFIC: Fitch Affirms Issuer Default Rating at 'BB+'
BOSTON SCIENTIFIC: Moody's Affirms 'Ba1' Corporate Family Rating
BRUNDAGE BONE: KeyBank Supports Wells Fargo's Call for Examiner
BRUNO GRELA-MPOKO: Case Summary & 20 Largest Unsecured Creditors

C&C ELLEGANZA: Case Summary & 16 Largest Unsecured Creditors
CANWEST GLOBAL: LP CCAA Stay Period Extended to April 14
CAPITAL GROWTH: Appoints Bradford Higgins to Board and Audit Panel
CAPMARK FINANCIAL: Asks for Permission for Securities Trading
CAPMARK FINANCIAL: Proposes to Reject Leases & License Agreement

CATHOLIC CHURCH: Court Confirms Fairbanks' Reorganization Plan
CATHOLIC CHURCH: Fairbanks Proposes Rule 9019 Settlements
CATHOLIC CHURCH: Fairbanks Want Sanction on The Greens
CATHOLIC CHURCH: Jesuits Want Lift Stay to Tender Insurance Claims
CATHOLIC CHURCH: April 15 Bar Date Set in Wilmington Diocese Case

CENTRAL METAL: Files for Chapter 11 Bankruptcy in California
CFT-III LLC: Updated Case Summary & 13 Largest Unsecured Creditors
CHARLES ISON: Case Summary & 13 Largest Unsecured Creditors
CINRAM INTERNATIONAL: S&P Cuts Corporate Credit Rating to 'B-'
COLONIAL BANCGROUP: Gets Final Approval to Access Non-Deposits

CONTINENTAL AIRLINES: Pilot Union Threatens to Undo Joint Venture
COOPER-STANDARD: Has Pledge for $245MM Investment; Files Plan
COOPER-STANDARD: Monitor Reports Revised Cash Projections
COOPER-STANDARD: Ontario Court Hears Appeal on Tax Refunds
COUNCIL ENTERPRISES: Case Summary & 6 Largest Unsecured Creditors

COUNTRYWIDE FINANCIAL: Faces Class Action Suit From CMBS Investors
CRESCENT RESOURCES: Files Plan of Reorganization
CROSS CANYON: Files for Chapter 11 with Prepackaged Plan
CRUCIBLE MATERIALS: Ch. 11 Plan to Dole Out Asset Sale Proceeds
DEMING INDUSTRIES: Case Summary & 18 Largest Unsecured Creditors

DEWITT LEE WEARY: Case Summary & 20 Largest Unsecured Creditors
DRINKS UNIQUE: Voluntary Chapter 11 Case Summary
EDRA BLIXSETH: LeMond Mulls Challenging $8.5MM Bid for Property
EDWARD MANDEL: Voluntary Chapter 11 Case Summary
ERICKSON RETIREMENT: BofA Wants Dallas Units to Have Own Committee

ERICKSON RETIREMENT: Court Tackles Possible Global Mediation
ERICKSON RETIREMENT: Wells Fargo Wants No Committee for Warminster
FITNESS HOLDINGS: Can Access Pacific Western Cash Collateral
FONTAINEBLEAU LV: Icahn Buys Unfinished Resort for $156.1 Mil.
FONTAINEBLEAU LV: Lease Assumption Notice fore Icahn Sale

FONTAINEBLEAU LV: Stipulation Resolving Sec. 2.2(B) Election
FORD MOTOR: Resumes Vehicle Production in China
FRANK JAMES TSIKITAS: Updated Case Summary & Unsec. Creditors
FREESCALE SEMICONDUCTOR: S&P Affirms 'B-' Corporate Credit Rating
GENERAL GROWTH: Announces IPO of Brazilian Joint Venture

GENMAR HOLDINGS: Closes Sale of Remaining Boating-Related Assets
GHOST TOWN: Plan Confirmation Hearing Scheduled for March 2
GLEN URE HUNSAKER: Voluntary Chapter 11 Case Summary
GREEKTOWN CASINO: Terminates Isle of Capri Consulting Agreement
GROTON REALTY: Case Summary & 12 Largest Unsecured Creditors

HAMILTON BROTHERS: Case Summary & 21 Largest Unsecured Creditors
HAND IN HAND: Case Summary & 4 Largest Unsecured Creditors
HARBORWALK LP: Updated Case Summary & Creditors List
HARBORWALK LP: Taps Bracewell & Giuliani as Bankruptcy Counsel
HARBORWALK LP: Wants Schedules Filing Deadline Moved to March 2

HCA INC: Expects to Report $216MM Net Income for Fourth Quarter
HCA INC: Fitch Affirms Issuer Default Rating at 'B'
HEIDTMAN MINING: Wants to Sell Assets to Coal America for $15MM
IMAGE ENTERTAINMENT: To be Delisted From Nasdaq Stock Market
IMPERIAL INDUSTRIES: Has Fifth Amendment to Forbearance Agreement

INNOVATIVE COMPANIES: To Auction Certain Assets on February 10
INTERSTATE EQUIPMENT: Case Summary & 20 Largest Unsec. Creditors
ITC DELTACOM: S&P Assigns 'B-' Rating on $325 Mil. Senior Notes
JACUZZI BRANDS: Moody's Changes Default Rating to 'Caa2/LD'
JAPAN AIRLINES: Names M. Onishi President & H. Taguchi VP

JAPAN AIRLINES: To Decide on U.S. Alliance This Month
JAPAN AIRLINES: U.S. Court Issues Injunction on Creditor Actions
JEFFREY RICE: Voluntary Chapter 11 Case Summary
JESUS MEDINA: Updated Case Summary & 20 Largest Unsec. Creditors
KLCG PROPERTY: Files Schedules of Assets and Liabilities

LEHMAN BROTHERS: Barclays Urges Dismissal of "Windfall" Suit
LIBBEY INC: Prices $400 Million Senior Secured Notes
LUIS TABARES: Case Summary & 17 Largest Unsecured Creditors
LYNNE CURTIN: Mulls Bankruptcy Amid $1.26 Million Court Judgment
LYONDELL CHEMICAL: Judge Won't Expand Examiner Work

LYONDELL CHEMICAL: Parties File Plan Confirmation Objections
LYONDELL CHEMICAL: Plan Confirmation Hearing Set for April 15
MAJESTIC STAR: Files Schedules of Assets & Liabilities
MALUHIA DEVELOPMENT: Voluntary Chapter 11 Case Summary
MCCLATCHY COMPANY: Compensation Panel Approves 2010 Bonus Plan

MEXICAN AMERICAN: Updated Case Summary & Unsecured Creditors
MICHAEL ALAN MYERS: Case Summary & 20 Largest Unsecured Creditors
MICHAEL GEIGER: Updated Case Summary & Unsecured Creditors
MICHAEL MACK: Case Summary & 20 Largest Unsecured Creditors
MICHAEL SHEPHERD: Case Summary & 20 Largest Unsecured Creditors

MIDWAY GAMES: Redstone, Midway Board Dodge Fiduciary Breach Claims
MMFX INTERNATIONAL: Affiliate Files Schedules of Assets and Debts
MOOSEHEAD FURNITURE: Can Access Unsecured Credit from Principals
NATURAL PRODUCTS: Wilmington Acting as Agent, Not A Creditor
NEUMANN HOMES: Discloses Estimated Fees of Professionals

NEUMANN HOMES: Proposes Settlement With Kenosha, et al.
NEUMANN HOMES: Seeks Confirmation of Liquidation Plan
NFR ENERGY: Moody's Assigns Corporate Family Rating at 'B3'
OAKWOOD COUNTRY: Case Summary & 20 Largest Unsecured Creditors
ORLEANS HOMEBUILDERS: Amends Revolving Credit Loan Agreement

PALM SPRINGS: Case Summary & Unsecured Creditor
PARALLEL CONSTRUCTION: Voluntary Chapter 11 Case Summary
PARKLANE PLAZA: Updated Case Summary & Unsecured Creditor
PATIENT SAFETY: Names Bauer and Hitchcock to Board of Directors
PETER CASSON: Case Summary & 19 Largest Unsecured Creditors

PETER POCKLINGTON: Has Tentative Deal Over Seized Assets
PLIANT CORP: 2008 Balance Sheet Upside-down by $513 Million
PMB PROPERTY: Case Summary & 2 Largest Unsecured Creditors
PROWLER GROUP: Case Summary & 20 Largest Unsecured Creditors
RAPID LINK: Delays Filing of Form 10-K for Fiscal 2009

READER'S DIGEST: UK Pension Issue Stalls Firm's Ch. 11 Exit
REGENCY ENERGY: Moody's Affirms 'Ba3' Corporate Family Rating
RENT-A-LIFT: Case Summary & 20 Largest Unsecured Creditors
R.H. DONNELLEY: Emerges From Chapter 11
RICKIE WALKER: Case Summary & 7 Largest Unsecured Creditors

RIM DEVELOPMENT: Taps Adams Jones as Special Counsel
ROPER BROTHERS: Files Schedules of Assets & Liabilities
RSG FAMILY: Case Summary & 14 Largest Unsecured Creditors
RUBICON US: Taps Garden City Group as Claims Agent
RUSSELL PROPERTIES: Updated Case Summary & Creditors List

S&B SURGERY CENTER: Committee Required to Maintain Web Site
SAINT VINCENT: Board Taps Grant Thornton's Mark Toney as CRO
SARGENT RANCH: Taps Smaha Law to Handle Reorganization Case
SEA LAUNCH: Posts Over $17 Mil. Net Loss in December 2009
SENSATA TECHNOLOGIES: S&P Raises Corporate Credit Rating to 'B-'

SID'S HARDWARE: Voluntary Chapter 11 Case Summary
SIMMONS CO: S&P Withdraws 'D' Corporate Credit Rating
SIRIUS XM: Moody's Upgrades Corporate Family Rating to 'Caa1'
SIX FLAGS: Court Approves Informal Settlement With OSHA
SIX FLAGS: Equity Residential Appoints Shapiro as Trustee

SIX FLAGS: To Hire 3,900 Workers in Kentucky/Missouri
SMURFIT-STONE: Proposes to Pay USW Professional Fees & Expenses
SOLID ROCK: Case Summary & 20 Largest Unsecured Creditors
SOUTHEAST TELEPHONE: Can Use CTB Cash Collateral Until Feb. 28
SPANSION INC: Korea Export Assumes Samsung's Claims

SPANSION INC: Latham & Watkins Bills $3.9MM for Sept-Nov Work
SPEEDUS CORP: Receives and Appeals Nasdaq Notice
SPO MEDICAL: Completes Restructuring Plan
STALLION OILFIELD: Emerges from Chapter 11 Bankruptcy
STEPHEN HILL: Case Summary & 20 Largest Unsecured Creditors

SUMBRY MORTUARY: Voluntary Chapter 11 Case Summary
SYLVAN FRIEDMAN: Case Summary & 20 Largest Unsecured Creditors
TARDY-CONNORS: Updated Case Summary & Creditors List
TELOGY LLC: Gets Interim Okay to Use Cash Collateral
TELOGY LLC: Asks for Court Okay to Auction Assets

TEUFEL NURSERY: Completes Chapter 11 Reorganization
TITLEMAX HOLDINGS: Merrill Lynch Calls Disclosure Misleading
TOUSA INC: Falcone Group Says Creditors' Suit "Unfounded"
TRIPLE J OILFIELD: Case Summary & 20 Largest Unsecured Creditors
TRU PAK INC: Voluntary Chapter 11 Case Summary

TTM TECHNOLOGIES: S&P Affirms Corporate Credit Rating at 'BB-'
TWENTY ONE HIGH: Voluntary Chapter 11 Case Summary
UNITED GAS: Case Summary & 1 Largest Unsecured Creditor
US AIRWAYS: Moody's Affirms Corporate Family Rating at 'Caa1'
VALASSIS COMMUNICATIONS: Moody's Reviews 'B1' Corp. Family Rating

VALASSIS COMMUNICATIONS: S&P Puts 'B+' Rating on Positive Watch
WEST POINT: Case Summary & 11 Largest Unsecured Creditors
WILLIAM HOLSINGER: Case Summary & 10 Largest Unsecured Creditors
WILMINGTON TRUST: S&P Cuts Counterparty Credit Ratings to 'BB+/B'
W.R. GRACE: Reports $46.4 Million Net Income for Q4 2009

XERIUM TECHNOLOGIES: Extends Waivers until March 1
ZAJAC FARMS: Voluntary Chapter 11 Case Summary

* Fitch Says Municipal Bankr. Consideration a Grave Credit Concern
* Sec. 363 Sales May Not Always Yield Best Return, Expert Says

* Brown Rudnick Elects London & New York Associates to Partnership
* Greenberg Traurig Expands Business Reorganization

* Upcoming Meetings, Conferences and Seminars

                            *********


ABITIBIBOWATER INC: Bridgewater Unit Files for Administration
-------------------------------------------------------------
AbitibiBowater said Tuesday its Bridgewater Paper Company Limited
subsidiary has filed for administration in the United Kingdom.
The BPCL Board of Directors made this decision only after all
other options to keep these U.K. operations solvent were
exhausted.

The AbitibiBowater creditor protection proceedings and the BPCL
filing for administration are separate and distinct legal
processes.  The possible outcomes of AbitibiBowater's creditor
protection filings will not necessarily reflect on the future of
BPCL in its administration filing, and vice versa.
AbitibiBowater's ongoing efforts to restructure and emerge from
its creditor protection filings continue to progress in the normal
course.

"We recognize the impact the filing has on our U.K. employees and
business partners; however, these actions were necessary and
represent the best course of action going forward," stated David
J. Paterson, AbitibiBowater President and Chief Executive Officer.

Throughout the BPCL administration filing, AbitibiBowater will
help ensure European customers continue to receive quality
products and service, free of business interruptions. "We remain
committed to building on our many decades of sales into the
international marketplace, and Europe is strategic to the
Company's current and future sales efforts," added Paterson.

Joint Administrators from Ernst & Young LLP have been appointed as
part of this filing and will manage the affairs, business and
assets of BPCL.  The Joint Administrators are exploring various
options which will determine how the BPCL filing will unfold.  All
media questions related to the administration process should be
directed to Vicky Conybeer at Ernst & Young at +44(0)20 7951 0868.
For day-to-day business inquiries, parties should continue to
communicate with their regular BPCL contacts.

AbitibiBowater is the parent company of Bridgewater Paper Company
Limited through its corporate subsidiaries.

                    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).


ADVANCED MICRO: Frank Clegg Won't Stand for Re-election
-------------------------------------------------------
Frank Clegg, a member of the board of directors of Advanced Micro
Devices, Inc., will not stand for re-election to the Board at the
Company's 2010 Annual Meeting of Stockholders.

                   About Advanced Micro Devices

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

As of September 26, 2009, AMD had $8.74 billion in total assets
against total current liabilities of $2.07 billion, deferred
income taxes of $243 million, long-term debt and capital lease
obligations, less current portion of $5.27 billion, other long-
term liabilities of $645 million, noncontrolling interest of
$1.07 billion; resulting in stockholders' deficit of $569 million.

                           *     *     *

As reported by the Troubled Company Reporter on October 7, 2009,
Standard & Poor's Ratings Services affirmed Advanced Micro's
'CCC+' corporate credit rating and revised its outlook to positive
from negative.  The rating reflects AMD's inconsistent and weak
operating profitability, its challenged market position in
microprocessers and uncertainties with respect to ongoing disputes
with Intel Corp. (A+/Stable/A-1+).


AFFILIATED MEDIA: Taps Sitrick as Communications Consultants
------------------------------------------------------------
Affiliated Media, Inc., has sought permission from the U.S.
Bankruptcy Court for the District of Delaware to employ Sitrick
and Company Inc. as communications consultants, nunc pro tunc to
the Petition Date.

Sitrick will, among other things:

     a. develop and implement communications programs and related
        strategies and initiatives for communications with the
        Debtor's key constituencies regarding the Debtor's
        operations and progress through the Chapter 11 process;

     b. develop public relations initiatives for the Debtor to
        maintain public confidence and internal morale during the
        Chapter 11 process;

     c. prepare press releases and other public statements for the
        Debtor, including statements relating to major Chapter 11
        events; and

     d. prepare other forms of communication to the Debtor's key
        constituencies and the media.

Sitrick will be paid $185 to $895 per hour for its services.

Seth Faison, a member of Sitrick, assures the Court that the firm
is "disinterested" as that term is defined in Section 101(14) of
the Bankruptcy Code.

Denver, Colorado-based Affiliated Media, Inc., aka MediaNews
Group, Inc., is the holding company of MediaNews Group Inc., which
owns 54 daily newspapers including the Denver Post and the San
Jose Mercury News, along with television and radio broadcasters.

The Company filed for Chapter 11 bankruptcy protection on
January 22, 2010 (Bankr. D. Del. Case No. 10-10202).

Hughes Hubbard & Reed LLP is the Debtor's general bankruptcy
counsel, while Daniel B. Butz, Esq., at Morris, Nichols, Arsht &
Tunnell LLP, is the Debtor's co-bankruptcy counsel.  Wilkinson
Barker Knauer, LLP, is the Debtor's special FCC counsel.  Carl
Marks Advisory Group LLC is the Debtor's restructuring advisor.
Rothschild Inc. is the Debtor's financial advisor.  Epiq
Bankruptcy Solutions, LLC, is the Debtor's claims agent.  Sitrick
and Company Inc. is the Debtor's communications consultant.

The Company listed $100,000,001 to $500,000,000 in assets and
$500,000,001 to $1,000,000,000 in liabilities.


AFFILIATED MEDIA: Taps Wilkinson Barker as Special Counsel
----------------------------------------------------------
Affiliated Media, Inc., has sought authorization from the U.S.
Bankruptcy Court for the District of Delaware to employ Wilkinson
Barker Knauer, LLP, as special counsel, nunc pro tunc to its
Chapter 11 petition date.

Wilkinson Barker will, among other things:

     a. prepare and file assignment applications with the FCC
        seeking consent to assign the FCC Broadcast Licenses to
        the FCC Trust;

     b. seek other approvals and rule waivers that may be
        necessary pursuant to FCC rules, regulation and policies,
        including FCC consent for transfer to Reorganized AMI of
        any FCC licenses that aren't used in connection with
        broadcast operations;

     c. defend against any challenges to the FCC assignment and
        transfer applications, including proceedings before the
        FCC and, if necessary, the U.S. Courts of Appeals; and

     d. work with general and special bankruptcy counsel for the
        Debtor so that FCC requirements and procedures may be
        coordinated with and complementary to the proceeding
        before the Court.

Kenneth E. Satten, a member of Wilkinson Barker, will be paid
based on the hourly rates of its personnel:

        Partners                  $320-$575
        Associates                $240-$250
        Legal Assistants          $165-$195

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

By separate applications, the Debtor is seeking to retain and
employ Hughes Hubbard & Reed LLP as bankruptcy co-counsel for the
Debtor; Carl Marks Advisory Group LLC as restructuring advisor for
the Debtor; Rothschild Inc. as financial advisor for the Debtor;
Morris Nichols Arsht & Tunnell LLP as general bankruptcy counsel;
and Sitrick and Company Inc. as communications consultant for the
Debtor.  Wilkinson Barker will work with these professionals to
avoid and minimize duplication of services in the case.

                      About Affiliated Media

Denver, Colorado-based Affiliated Media, Inc., aka MediaNews
Group, Inc., is the holding company of MediaNews Group Inc., which
owns 54 daily newspapers including the Denver Post and the San
Jose Mercury News, along with television and radio broadcasters.

The Company filed for Chapter 11 bankruptcy protection on
January 22, 2010 (Bankr. D. Delaware Case No. 10-10202).

Hughes Hubbard & Reed LLP is the Debtor's general bankruptcy
counsel, while Daniel B. Butz, Esq., at Morris, Nichols, Arsht &
Tunnell LLP, is the Debtor's co-bankruptcy counsel.  Wilkinson
Barker Knauer, LLP, is the Debtor's special FCC counsel.  Carl
Marks Advisory Group LLC is the Debtor's restructuring advisor.
Rothschild Inc. is the Debtor's financial advisor.  Epiq
Bankruptcy Solutions, LLC, is the Debtor's claims agent.  Sitrick
and Company Inc. is the Debtor's communications consultant.

The Company listed $100,000,001 to $500,000,000 in assets and
$500,000,001 to $1,000,000,000 in liabilities.


AFFILIATED MEDIA: Wants Morris Nichols as Bankruptcy Co-Counsel
---------------------------------------------------------------
Affiliated Media, Inc., has asked for authorization from the U.S.
Bankruptcy Court for the District of Delaware to employ Morris,
Nichols, Arsht & Tunnell LLP as bankruptcy co-counsel, nunc pro
tunc to the Petition Date.

Nichols Arsht will, among other things:

     a. perform necessary services as the Debtor's bankruptcy co-
        counsel, including providing the Debtor with advice and
        preparing necessary documents on behalf of the Debtor in
        the areas of restructuring and bankruptcy;

     b. take necessary actions to protect and preserve the
        Debtor's estate during its Chapter 11 case, including the
        prosecution of actions by the Debtor, the defense of any
        actions commenced against the Debtor, negotiations
        concerning litigation in which the Debtor are involved;

     c. prepare or coordinate preparation of necessary motions,
        applications, answers, orders, reports and papers in
        connection with the administration of the Chapter 11 case;
        and

     d. counsel the Debtor with regard to its rights and
        obligations as a debtor-in-possession.

Derek C. Abbott, a partner in Morris Nichols, says that the firm
will be paid based on the hourly rates of its personnel:

        Partners                 $475-$750
        Associates               $270-$460
        Paraprofessionals        $195-$250
        Case Clerks                 $130

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

By separate applications, the Debtor is seeking to retain and
employ Hughes Hubbard & Reed LLP as bankruptcy co-counsel for the
Debtor; Carl Marks Advisory Group LLC as restructuring advisor for
the Debtor; Rothschild Inc. as financial advisor for the Debtor;
Wilkinson Barker Knauer, LLP, as special FCC counsel for the
Debtor; and Sitrick and Company Inc. as communications consultant
for the Debtor.  Morris Nichols will work with these professionals
to avoid and minimize duplication of services in the case.

                      About Affiliated Media

Denver, Colorado-based Affiliated Media, Inc., aka MediaNews
Group, Inc., is the holding company of MediaNews Group Inc., which
owns 54 daily newspapers including the Denver Post and the San
Jose Mercury News, along with television and radio broadcasters.

The Company filed for Chapter 11 bankruptcy protection on
January 22, 2010 (Bankr. D. Delaware Case No. 10-10202).

Hughes Hubbard & Reed LLP is the Debtor's general bankruptcy
counsel, while Daniel B. Butz, Esq., at Morris, Nichols, Arsht &
Tunnell LLP, is the Debtor's co-bankruptcy counsel.  Wilkinson
Barker Knauer, LLP, is the Debtor's special FCC counsel.  Carl
Marks Advisory Group LLC is the Debtor's restructuring advisor.
Rothschild Inc. is the Debtor's financial advisor.  Epiq
Bankruptcy Solutions, LLC, is the Debtor's claims agent.  Sitrick
and Company Inc. is the Debtor's communications consultant.

The Company listed $100,000,001 to $500,000,000 in assets and
$500,000,001 to $1,000,000,000 in liabilities.


ALLEN CAPITAL: Section 341(a) Meeting Scheduled for March 4
-----------------------------------------------------------
The U.S. Trustee for Region 6 will convene a meeting of creditors
in Allen Capital Partners, LLC's Chapter 11 case on March 4, 2010,
at 2:00 p.m.  The meeting will be held at Office of the U.S.
Trustee, 1100 Commerce Street, Room 976, Dallas, TX 75242.

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

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

San Diego, California-based Allen Capital Partners, LLC, dba The
Allen Group, filed for Chapter 11 bankruptcy protection on
January 25, 2010 (Bankr. N.D. Tex. Case No. 10-30562).  Mark
MacDonald, Esq., at MacDonald + MacDonald, P.C., assists the
Company in its restructuring effort.  Lain, Faulkner & Co. is the
Debtor's financial advisor.  The Company listed $100,000,001 to
$500,000,000 in assets and $100,000,001 to $500,000,000 in
liabilities in its petition.

The Debtor's affiliate -- DLH Master Land Holding, LLC, dba The
Allen Group -- filed a separate Chapter 11 bankruptcy petition.


ALTEGRITY INC: S&P Puts 'B' Corp. Rating on CreditWatch Negative
----------------------------------------------------------------
Standard & Poor's Ratings Services said that it placed its ratings
on Falls Church, Virginia-based Altegrity Inc., including its 'B'
corporate credit rating, on CreditWatch with negative
implications.  This means S&P could lower the ratings if S&P
believes that the company cannot comply with its financial
covenants during 2010 or if liquidity declines below S&P's
expectations.

As of Sept. 30, 2009, Altegrity had about $1.34 billion in debt
outstanding.

The CreditWatch reflects S&P's concern that the company may not be
able to comply with its financial covenants during 2010 due to
potentially weaker than expected operating performance and a
secured leverage covenant step down to 5x as of Sept. 30, 2010,
from 5.75x currently.  S&P believes weaker performance could
result from a greater-than-expected increase in the amount of
Federal Government background screening business that may be
retained in-house by the U.S. Office of Personnel Management
(OPM), increased competition from the company's primary private
competitor for OPM business, and generally low employee turnover
due to poor employment opportunities.

Standard & Poor's could lower the ratings if S&P believes the
company may not be able to comply with its maximum secured
leverage covenant in 2010 or if S&P believes liquidity, which is
currently limited to its cash balances, could become strained.
However, if S&P believes the company will be able to maintain
adequate liquidity and covenant cushion well above 10%, S&P could
affirm the ratings.


AMBAC FINANCIAL: Board Increases Executives' Base Salary for 2010
-----------------------------------------------------------------
The Compensation Committee of the Board of Directors of Ambac
Financial Group, Inc., increased the base salary for 2010 of all
of its executive officers except Messrs. Eisman, Smith and Trick.
Listed below are the 2010 base salaries of the Company's Chief
Executive Officer and named executive officers for whom such
increases were approved.

Base Salaries for 2010

  Name                 Title            Base Salary Amount
  ----                 -----            ------------------
Michael A. Callen      Chairman         $812,500

David W. Wallis        Chief Executive  $1,250,000
                       Office

Kevin J. Doyle         Senior Vice      $625,000
                       President and
                       General Counsel

The Committee also awarded the following cash bonuses to the
Company's Chief Executive Officer, Chief Financial Officer and its
named executive officers for their 2009 performance.

Bonuses for 2009

  Name                 Title             2009 Cash Bonus Amount
  ----                 -----             ----------------------
Michael A. Callen      Chairman          $536,250

David W. Wallis        Chief Executive   $687,500
                       Officer

Kevin J. Doyle         Senior Vice       $330,000
                       President and
                       General Counsel

David Trick            Senior Managing   $225,000
                       Director and
                       Chief Financial
                       Officer

Retention Agreements for 2010

In addition, the Committee entered into retention agreements with
certain of its executive officers, including its Chairman, Chief
Executive Officer and General Counsel.  These agreements provide
for four quarterly cash retention payments.  In order for the
executive to keep a quarterly retention payment, he must still be
employed by the Company (unless terminated by the Company without
cause) on the applicable Retention Date.

The retention payment schedule:

Payment Date                    Retention Date
January 29, 2010                April 28, 2010
April 29, 2010                  July 28, 2010
July 29, 2010                   October 28, 2010
October 29, 2010                January 29, 2011

If the Company terminates the executive for Cause or the executive
terminates his employment with the Company for any reason
following a Payment Date but prior to the corresponding Retention
Date, the executive is required to return to the Company the
retention payment that was paid on the last occurring Payment Date
prior to the date the executive's employment terminates within
thirty days following the date that the executive's employment
terminates.  Listed below are the 2010 quarterly retention
payments for the Chief Executive Officer and named executive
officers.

2010 Retention Payments

  Name                 Title            Quarterly Retention Amount
  ----                 -----            --------------------------
Michael A. Callen      Chairman         $227,500

David W. Wallis        Chief Executive  $281,250
                       Officer

Kevin J. Doyle         Senior Vice      $133,750

                       President and
                       General Counsel

                      About Ambac Financial

Ambac Financial Group, Inc., headquartered in New York City, is a
holding company whose affiliates provide financial guarantees and
financial services to clients in both the public and private
sectors around the world.  Ambac Financial Group, Inc. common
stock is listed on the New York Stock Exchange (ticker symbol
ABK).  Ambac's principal operating subsidiary is Ambac Assurance
Corporation, a guarantor of public finance and structured finance
obligations.

Ambac Assurance has earned a Caa2 rating from Moody's Investors
Service, Inc. with a developing outlook and a CC rating from
Standard & Poor's Ratings Services with a developing outlook.
Moody's Investors Service at the end of July 2009 downgraded to
Caa2 from Ba3 the insurance financial strength ratings of Ambac
Assurance Corporation and Ambac Assurance UK Limited.  The rating
action was prompted by Ambac's announced large loss reserve
increase and credit impairment charge estimated for 2Q 2009.


ASTRIN PROPERTIES: Case Summary & 2 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Astrin Properties, LLC
        1439 Old Salem Rd. SE
        Conyers, GA 30013

Bankruptcy Case No.: 10-62520

Chapter 11 Petition Date: January 29, 2010

Court: United States Bankruptcy Court
       Northern District of Georgia (Atlanta)

Judge: Margaret Murphy

Debtor's Counsel: Joel M. Haber, Esq.
                  Law Office of Joel M. Haber
                  2365 Wall Street, Suite 120
                  Conyers, GA 30013
                  Tel: (770) 922-9080
                  Email: jmhaber@bellsouth.net

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

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

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

             http://bankrupt.com/misc/ganb10-62520.pdf

The petition was signed by Steve Astrin, manager/member of the
Company.


ATRIUM CORP: Gets Interim Okay to Sell Accounts Receivable
----------------------------------------------------------
Atrium Corporation, et al., sought and obtained interim approval
from the U.S. Bankruptcy Court for the District of Delaware to
sell accounts receivable and perform related transactions.

Certain of the Debtors, as originators, have historically obtained
liquidity from the sale of receivables.  The receivables arise
from the sale of inventory or the rendition of services by the
originators in the ordinary course of business.

Access to the A/R facility allows the Debtors to convert their
receivables to cash without waiting for such accounts to mature or
to engage in any collection efforts, providing them with a crucial
and accessible source of liquidity.  Participating in the A/R
facility decreases the Debtors' exposure to risks associated with
non-payment on account of customers on the other side of the
receivables, providing another significant benefit to the Debtors
to mandate the continuation of the A/R facility.

The Court accordingly authorized the Atrium Companies, Inc., as
servicer, and certain other Debtors, as originators, to enter into
and perform under the seventh amendment and waiver to the
securitization agreements.  The Court also permitted the Debtors
to assume the amended agreements.  The Debtors will, to the extent
approval is necessary, transfer receivables to the Atrium Funding
Corporation II, a non-Debtor, bankruptcy remote entity that is
wholly-owned by ACI, on an interim basis.

A copy of the seventh amendment and waiver to securitization
agreements is available for free at:

               http://ResearchArchives.com/t/s?4fbb

The final hearing to consider entry of the final order and final
approval of the postpetition securitization facility is set for
February 22, 2010, at 9:00 a.m.

                           About Atrium

Headquartered in Dallas, Texas, Atrium Corporation --
http://www.atrium.com/-- is a manufacturer and supplier of
residential windows and doors in North America.  The company has
5,100 employees and 63 manufacturing facilities and distribution
centers in 21 U.S. states, Canada and Mexico.

Atrium Corporation and various affiliates filed for Chapter 11
bankruptcy protection on January 20, 2010 (Bankr. D. Del. Case No.
10-10150).  Richard M. Cieri, Esq.; Joshua A. Sussberg, Esq.; and
Brian E. Schartz, Esq., at Kirkland & Ellis LLP, and Dominic E.
Pacitti, Esq.; and Michael W. Yurkewicz, Esq., at Klehr Harrison
Harvey Branzburg LLP, assist the Debtors in their restructuring
efforts.  Deloitte Financial Advisory Services LLP is the Debtors'
financial advisor.  Moelis & Company is the Debtors' investment
banker.  Goodmans LLP is the Debtors' Canadian counsel.  Garden
City Group Inc. is the Debtors' claims agent.

As of December 31, 2009, the Debtors listed $655.9 million in
consolidated debts, but didn't state their consolidated assets.

Atrium Corp.'s petition says assets are up to $500,000 while debts
range from $100 million to $500 million.


AVIS BUDGET: Amends, Restates Contract with CEO Ronald Nelson
-------------------------------------------------------------
Avis Budget Group Inc. amended and restated its agreement with
Ronald L. Nelson, Chairman and Chief Executive Officer.

The amended agreement provides a minimum base salary of $1 million
and participation in employee benefit plans generally available to
our executive officers, and provides for an annual incentive award
with a target amount equal to 150% of the Executive's base salary,
subject to attainment by the Company of performance goals to be
determined by the Company's Compensation Committee.  The amended
agreement also generally provides the Executive and his dependents
with continuation of certain health and welfare benefits until the
Executive reaches age 75, reflecting no change from the Prior
Agreement.

Also, consistent with the Prior Agreement, if the Executive's
employment with us is terminated by us without "cause" or due to a
"constructive discharge", the Executive generally will be entitled
to a lump sum payment equal to 299% of the sum of his then-current
base salary plus his then-current target annual bonus, and
accelerated vesting of certain equity awards.

The definition of "constructive discharge" has also been amended
in certain respects, including to eliminate the trigger that
provided for grounds for a "constructive discharge" merely upon
the occurrence of a "corporate transaction".

The amended agreement has a five-year term ending on January 27,
2015, with no automatic renewal or severance provisions applicable
at the end of such term.  The 280G excise tax gross-up provision
contained in the Prior Agreement has been eliminated.

Effective June 30, 2010, the Executive will also serve as our
President and Chief Operating Officer.  Beginning after June 30,
2012, either the Board of Directors of the Company or the
Executive may elect to transition the Executive to serve solely as
Chairman of the Board and appoint a new CEO.  If the Executive so
elects, a fifty percent salary and bonus reduction will be
imposed.  If the Board so elects, such salary reduction will be
made in specified increments over the remaining term, based on the
year in which such election is made.

                      About Avis Budget Group

Avis Budget Group (NYSE: CAR) -- http://www.avisbudgetgroup.com/
-- provides vehicle rental services, with operations in more than
70 countries.  Through its Avis and Budget brands, the Company is
a general-use vehicle rental company in each of North America,
Australia, New Zealand and certain other regions based on
published airport statistics.  Avis Budget Group is headquartered
in Parsippany, N.J. and has roughly 24,000 employees.

At September 30, 2009, the Company had $9.96 billion in total
assets against total current liabilities of $858 million, total
liabilities exclusive of liabilities under vehicle programs of
$3.85 billion, and liabilities under vehicle programs of
$5.88 billion, resulting in stockholders' equity of $229 million.

                           *     *     *

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


BARBARA ANNE LISS: Case Summary & 4 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Barbara Anne Liss
        PO Box 684
        Meredith, NH 03253

Bankruptcy Case No.: 10-10344

Chapter 11 Petition Date: January 30, 2010

Court: United States Bankruptcy Court
       District of New Hampshire Live Database (Manchester)

Debtor's Counsel: Jennifer Rood, Esq.
                  Bernstein Shur
                  670 N. Commercial St., Ste 108
                  PO Box 1120
                  Manchester, NH 03105-1120
                  Tel: (603) 623-8700
                  Fax: (603) 623-7775
                  Email: jrood@bernsteinshur.com

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

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

A full-text copy of Ms. Liss' petition, including a list of her 4
largest unsecured creditors, is available for free at:

             http://bankrupt.com/misc/nhb10-10344.pdf

The petition was signed by Ms. Liss.


BERNIE'S AUDIO: Court Denies Committee's Ch. 7 Conversion Motion
----------------------------------------------------------------
NetDockets reports that Judge Albert Dabrowski of the U.S.
Bankruptcy Court for the District of Connecticut denied a request
by the Official Committee of Unsecured Creditors appointed in the
Chapter 11 case of Bernie's Audio Video TV Appliance Co., Inc., to
convert the Debtor's chapter 11 case to a Chapter 7 proceeding.

According to NetDockets, the Creditors' Committee argues that the
case, which is being used to complete going-out-of-business sales
at all of Bernie's stores that began before the bankruptcy filing,
should be converted to Chapter 7 because "the Debtor has failed to
demonstrate any benefit to the Debtor's general unsecured
creditors from its proposed use of cash collateral or the proposed
going-out-of-business sales."

Bernie's has an Agency Agreement with Hilco Merchant Resources,
LLC, which is conducting the going-out-of-business sales.  The
Agreement provides for Hilco to pay Bernie's 80.3% of the
aggregate cost of its merchandise, expected to be roughly
$11.4 million.  According to NetDockets, that amount is less than
Bernie's secured debt of $12.7 million.

The Committee first sought Chapter 7 conversion via an objection
to Bernie's motion to use lenders' cash collateral and motion to
conduct going-out-of-business sales.  The Court required the
Committee to file a separate motion.

NetDockets notes the Creditors' Committee was appointed on
January 27, 2010.  The panel is represented by Cooley Godward
Kronish LLP and Murtha Cullina LLP.

According to NetDockets, while Bernie's and its secured creditor,
RBS Citizens National Association, negotiated carve-outs for
certain priority claims, including claims of employees, customers
and taxing authorities, they did not agree to provide any recovery
for general unsecured creditors.  In addition, the proposed cash
collateral agreement -- which has now been approved on a final
basis by the court -- encumbers Bernie's few unencumbered assets -
- which the Committee identifies as leasehold interests and
chapter 5 avoidance actions -- and includes a waiver of Bernie's
rights under section 506(c) of the Bankruptcy Code.  According to
NetDockets, the Committee argues these agreements cause general
unsecured creditors to be "left out in the cold" and should have
been rejected "unless and until the Debtor and Citizens agree to
provide general unsecured creditors with a chance to recover in
this case."  According to NetDockets, the Committee further argues
that the cases should have been converted to Chapter 7 to benefit
general unsecured creditors by leaving some of Bernie's assets
unencumbered and negating the 506(c) waiver in the cash collateral
agreement.

According to NetDockets, Judge Dabrowski denied the conversion
request, overruled the Committee's objections to the financing
proposal, and granted final approval to the cash collateral
arrangement.

NetDockets says the Court's "order" is actually just a notation
written in the margin of a copy of the first page of the
Committee's motion, which was refiled on the docket.

                        About Bernie's Audio

Enfield, Connecticut-based Bernie's Audio Video TV Appliance Co.,
Inc., operates 15 electronic appliance stores.  The Company filed
for Chapter 11 bankruptcy protection on January 14, 2010 (Bankr.
D. Conn. Case No. 10-20087).  Barry S. Feigenbaum, Esq., at Rogin
Nassau LLC, serves as attorney for the Debtor.  The Company listed
$10,000,001 to $50,000,000 in assets and $10,000,001 to
$50,000,000 in liabilities.


BERNIE'S AUDIO: U.S. Trustee Appoints 3-Member Creditors Panel
--------------------------------------------------------------
Diana G. Adams, the U.S. Trustee for Region 2, appointed three
members to the official committee of unsecured creditors in the
Chapter 11 case of Bernie's Audio Video TV Appliance Co., Inc.

The Creditors Committee members are:

1. Ajay Vadera, chairperson
   Monster Cable Products, Inc.
   455 Valley Drive
   Brisbane, CA 94005
   Tel: (415) 850-0026
   Fax: (415) 468-1604

2. Michael Lafreniere
   Serta Mattress Company
   15 Houghtaling Road           .
   West Coxsackie, NY 12192
   Tel: (518) 731-3600 extension 3904
   Fax: (847) 747-0599

3. Alicia Rawson

   Omnimount Systems, Inc.
   8201 South 48th Street
   Phoenix, AZ 85040
   Tel: (480) 829-8000 extension 121
   Fax: (602) 296-0797

Official creditors' committees have the right to employ legal and
accounting professionals and financial advisors, at the Debtor's
expense.  They may investigate the Debtor's business and financial
affairs.  Importantly, official committees serve as fiduciaries to
the general population of creditors they represent.  Those
committees will also Attnempt to negotiate the terms of a
consensual Chapter 11 plan -- almost always subject to the terms
of strict confidentiality agreements with the Debtors and other
core parties-in-interest.  If negotiations break down, the
Committee may ask the Bankruptcy Court to replace management with
an independent trustee.  If the Committee concludes reorganization
of the Debtor is impossible, the Committee will urge the
Bankruptcy Court to convert the Chapter 11 cases to a liquidation
proceeding.

Enfield, Connecticut-based Bernie's Audio Video TV Appliance Co.,
Inc., operates 15 electronic appliance stores.  The Company filed
for Chapter 11 bankruptcy protection on January 14, 2010 (Bankr.
D. Conn. Case No. 10-20087).  The Company listed $10,000,001 to
$50,000,000 in assets and $10,000,001 to $50,000,000 in
liabilities.


BIRCH COMMUNICATIONS: Moody's Withdraws 'B3' Corp. Family Rating
----------------------------------------------------------------
Moody's Investors Service has withdrawn the ratings previously
assigned to Birch Communications, Inc., including the B3 corporate
family rating, the B2 probability of default rating, and the B3
rating to its proposed $100 million issuance of senior secured
notes.  This rating withdrawal is due to recent indications that
the Company will complete its note issuance under terms that are
different than those that supported the rating assignment.
Moody's believes that the company may seek to raise alternate
capital as market conditions dictate.

Withdrawals:

* Issuer: Birch Communications, Inc.

Moody's most recent rating action for Birch was on November 30,
2009, when Moody's assigned first time ratings to the Company.

Birch, headquartered in Macon, GA, is a CLEC serving about 335,000
business and residential access lines.


BORDERS GROUP: May Consider Bankruptcy or Liquidation
-----------------------------------------------------
With dismal holiday sales, sagging shares, loan deadlines, layoffs
and the resignation of its most recent CEO, Ron Marshall, Borders
Group Inc. may face pressure from investors to consider a pre-
packaged bankruptcy or liquidation, ABI reports.

Headquartered in Ann Arbor, Mich., Borders Group, Inc. (NYSE: BGP)
is a leading specialty retailer of books as well as other
educational and entertainment items. The company employs
approximately 25,000 throughout the U.S., primarily in its
Borders(R) and Waldenbooks(R) stores.  Online shopping is offered
through borders.com.


BOSTON SCIENTIFIC: Fitch Affirms Issuer Default Rating at 'BB+'
---------------------------------------------------------------
Fitch Ratings has affirmed the Issuer Default Rating and
outstanding debt ratings on Boston Scientific Corp.:

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

Fitch has also revised the Rating Outlook to Stable from Positive.

The rating action follows BSX's announcement that it will settle a
number of longstanding patent lawsuits with Johnson & Johnson
(JNJ) for approximately $1.725 billion.  BSX will pay $1 billion
of the settlement and the remaining $725 million on or before the
first week of January 2011.  While the company has decreased debt
and leverage during the past three years, Fitch expects the
payments will delay BSX's efforts to further de-leverage a year
later than Fitch's forecasts.

The Stable Outlook is supported by the stability of BSX's
operations, which Fitch expects will continue to generate
profitable growth and positive cash flow.  Relatively stable
product markets, an ongoing focus on costs and continued new
product introductions should help support BSX's margins.  As a
result, Fitch expects that BSX will continue to de-leverage to
below 2.0 times over time, albeit a year later than Fitch's prior
expectations.

Although BSX continues to resolve a significant number litigation
issues, financial risk related to unresolved litigation remains.
Regulatory issues regarding its drug-eluting stent and cardiac
rhythm management businesses have been largely rectified.

The ultimate outcome of health care reform initiatives remains
uncertain.  As such, it is unclear how these developments will
affect BSX and the medical device industry.  Therefore, BSX's
ratings do not reflect any potential impact from health care
reform.

Free Cash Flow (Net Cash Flow From Operations Less Capital
Expenditures) for LTM ending Sept. 30, 2009, was $840 million.
Interest coverage (EBITDA/Interest) was 6.26x and leverage (Total
Debt/EBITDA) was 2.46x for LTM ending Sept. 30, 2009.  BSX had
approximately $1.38 billion in cash/short-term investments and
$6.03 billion in debt.  After the quarter ended on Sept. 30, 2009,
BSX issued approximately $2 billion in senior unsecured notes and
paid down its bank term loan.  As a result BSX has approximately
$1.75 billion of debt maturing in 2011, $650 million maturing in
2014 and $1.25 billion maturing in 2015.  At Sept. 30, 2009, BSX
had full availability on its $1.75 billion revolver, maturing on
April 21, 2011.


BOSTON SCIENTIFIC: Moody's Affirms 'Ba1' Corporate Family Rating
----------------------------------------------------------------
Moody's affirmed Boston Scientific Corporation's Ba1 Corporate
Family and Ba1 senior note ratings following the company's
announcement that it had settled several key long-standing patent
lawsuits with Johnson & Johnson for $1.725 billion.  As a result
of this substantial payout and the potential negative implications
for revolver covenant compliance, the company's Speculative Grade
Liquidity rating was revised to SGL-3 from SGL-2.  The rating
outlook is stable.

"Although this settlement removes uncertainty associated with key
litigation with J&J, Boston Scientific's liquidity will be tighter
over the near term," said Diana Lee, a Senior Credit Officer at
Moody's.

While Boston Scientific does have cash and access to a revolver,
this relatively large settlement will reduce the company's
liquidity cushion and financial flexibility.  In addition to the
initial $1 billion payout, Moody's understand the company will use
$745 million in letters of credit as collateral for the remaining
payment plus interest.  While the company's covenants are not
expected to be materially affected by the initial payment to J&J
(due to the presence of a $1.137 billion cash litigation payment
exclusion), a subsequent $745 million payout by the first week of
January 2011 could result in a covenant breach under its current
revolver.

Furthermore, the company has about $1.75 billion in debt maturing
in the first half of 2011.  To be noted, the company's assets are
unencumbered; therefore, even absent the ability to refinance the
revolver, Moody's believe this helps to provide an adequate
liquidity cushion.

The stable outlook assumes that refinancing risk will be addressed
well in advance of year end especially in light of a potential
covenant breach and approaching debt maturities.  Failure to
address refinancing needs could result in negative pressure on
both the long-term Ba1 rating and the SGL-3 rating.  Although
remaining litigation is not expected to be resolved over the near
term, material negative developments could affect the outlook or
ratings.

Meanwhile, the J&J settlement provides resolution of some of the
company's major long-standing legal uncertainties.  However, prior
to considering positive rating movement, Moody's would need to
see: (1) elimination of refinancing risk; (2) sufficient cash flow
generation to substantially fund litigation payouts and any
acquisitions without additional leverage; and (3) that the
company's core CRM and DES segments do not experience significant
downturns in market share due to safety concerns or competitive
issues.

Ratings affirmed:

Boston Scientific Corporation:

* Corporate Family Rating at Ba1
* Senior unsecured notes at Ba1, LGD3, 45%
* Senior shelf securities at (P)Ba1
* PDR at Ba1

Rating changed:

* Speculative grade liquidity rating to SGL-3 from SGL-2

The last rating action on Boston Scientific was taken on
December 10, 2009, when Moody's affirmed Boston Scientific's
ratings and stable outlook in conjunction with a new bond
offering.

Boston Scientific Corporation, headquartered in Natick,
Massachusetts, is a worldwide developer, manufacturer and marketer
of medical devices, specializing in a broad range of
interventional and cardiac rhythm management devices.


BRUNDAGE BONE: KeyBank Supports Wells Fargo's Call for Examiner
---------------------------------------------------------------
KeyBank National Association and Key Equipment Finance Inc. have
joined Wells Fargo Bank, N.A., Wells Fargo Equipment Finance,
Inc., and Wachovia Financial Services, Inc., in asking the U.S.
Bankruptcy Court for the District of Colorado to appoint an
examiner in Brundage-Bone Concrete Pumping, Inc.'s bankruptcy
cases.

KeyBank is the second largest secured creditor of the seventeen
secured lenders to debtors Brundage Bone and JLS Concrete Pumping,
Inc.

KeyBank supports Wells Fargo's position that the Debtor's
management isn't acting in the best interest of the creditors.
KeyBank believes that for an extended period of time, the Debtor
has only been acting in its own self-interest and has disregarded
the fiduciary duties it owes to creditors when the Debtor entered
the zone of insolvency.  "Nowhere is this more apparent than
agreement the Debtor entered into with Aurora Resurgence
Management Partners, LLC, for the acquisition of the Debtor.  The
agreement was executed on December 1, 2009, without any disclosure
to the lenders and at a time the Debtor was being 'propped' up by
the lenders," KeyBank says.

As reported by the TCR on January 29, 2010, Wells Fargo claimed,
among other things, that the conflicted and self interested the
Debtor's board caused the Debtors to pursue a restructuring plan
with Aurora Resurgence that places the insiders' interests ahead
of the substantial interests of the Debtors creditors by locking
in directors on the board unless and until the personal guaranties
of Jack Brundage and Dale Bone Sr. are released.

KeyBank states that under the terms of the agreement, the Debtor
tied its own hands by precluding any competing bidders for the
Debtors, a restriction that was further incorporated into the
proposed Debtor-in-Possession facility between Debtor and
Commercial Finance Services 110 LLC and precludes an opportunity
by third parties to bid on the Debtor.

According to KeyBank, the DIP facility further prejudices
creditors by limiting a carve out for attorneys fees for any
committee appointed in the case to $100,000.  In addition, the DIP
Lender is being given a post petition lien on all avoidance
actions in violation of LBR 4001-3APP and to the detriment of
unsecured creditors' rights.

KeyBank and Key Eqiupment are represented by Foster Pepper PLLC
and O'Brien & Zender, P.C.

Brundage-Bone Concrete Pumping Inc. and JLS Concrete Pumping Inc.,
claim to be the largest providers of concrete pumping services in
the U.S.  JLS Concrete Pumping services California and Nevada from
its corporate headquarters in Ventura and from satellite yards in
Bakersfield, Fresno, Gardena, Lancaster, Las Vegas, Moorpark, Palm
Springs, Riverside, San Diego, San Luis Obispo, Santa Clarita,
Temecula, Thousand Oaks, and Ventura.

Brundage-Bone and JLS filed for Chapter 11 on Jan. 18, 2010
(Bankr. D. Col. Case No. 10-10758).  According to the schedules,
the Company has assets of $325,708,061, and total debts of
$230,277,103.


BRUNO GRELA-MPOKO: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Bruno Grela-Mpoko
        P.O. Box 2949
        Montgomery Village, MD 20886

Bankruptcy Case No.: 10-11581

Chapter 11 Petition Date: January 25, 2010

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

Judge: Thomas J. Catliota

Debtor's Counsel: Richard B. Rosenblatt, Esq.
                  The Law Offices of Richard B. Rosenblatt
                  30 Courthouse Square, Ste. 302
                  Rockville, MD 20850
                  Tel: (301) 838-0098
                  Email: rrosenblatt@rosenblattlaw.com

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

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

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

             http://bankrupt.com/misc/mdb10-11581.pdf

The petition was signed by Bruno Grela-Mpoko.


C&C ELLEGANZA: Case Summary & 16 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: C&C Elleganza, Inc.
          fdba Elleganza, Inc
        1353 Carr 19, Suite 260
        Guaynabo, PR 00966

Bankruptcy Case No.: 10-00377

Chapter 11 Petition Date: January 25, 2010

Court: United States Bankruptcy Court
       District of Puerto Rico (Old San Juan)

Debtor's Counsel: Victor Gratacos Diaz, Esq.
                  Po Box 7571
                  Caguas, PR 00726
                  Tel: (787) 746-4772
                  Email: vgratacd@coqui.net

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

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

According to the schedules, the Company has assets of $1,892,001,
and total debts of $2,345,965.

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

             http://bankrupt.com/misc/prb10-00377.pdf

The petition was signed by Carlos Cumbas Ortiz, president of the
Company.


CANWEST GLOBAL: LP CCAA Stay Period Extended to April 14
--------------------------------------------------------
Canwest Global Communications Corp. announced February 2 that the
Ontario Superior Court of Justice (Commercial Division) has
granted the request of its subsidiary, Canwest Limited Partnership
/ Canwest Societe en Commandite and its general partner, Canwest
(Canada) Inc., and their subsidiaries Canwest Publishing Inc. /
Publications Canwest Inc. and Canwest Books Inc. for an extension
of the stay period granted under the Companies' Creditors
Arrangement Act to April 14, 2010.  In its Initial Order obtained
on January 8, 2010, the Court provided a 30 day Stay Period.

                       About Canwest Global

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

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

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

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

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

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


CAPITAL GROWTH: Appoints Bradford Higgins to Board and Audit Panel
------------------------------------------------------------------
Capital Growth Systems Inc. appointed Bradford R. Higgins to the
Company's board of directors and board's audit committee following
the resignation of Richard E. Worthy as member of the board.

Mr. Higgins is currently the Managing Partner, US Investments, for
SOSventures, LLC.  SOSventures, LLC, is a privately funded venture
capital firm with a primary investment focus on environmental and
energy efficiencies.

Mr. Higgins will receive $10,000 annually, payable on a quarterly
basis for each quarter that he serves as a director of the
Company.  Service on the Board includes attending up to ten
Board/committee meetings per year, at least four of which are to
be in-person.  For each in-person Board/committee meeting in
excess of the Meeting Minimum, Mr. Higgins will receive $500 for
each half-day and $1,000 for each full-day of Board/committee
meetings attended.  For each telephonic Board/committee meeting in
excess of the Meeting Minimum, Mr. Higgins will receive $250 for
each half-day and $500 for each full-day of Board/committee
meetings attended, provided that no additional compensation will
be paid for telephonic meetings that do not last more than one
hour.

Effective January 29, 2010, the Company granted to Mr. Higgins
options to purchase 400,000 shares of the Company's common stock
at an exercise price equal to $0.24 per share, with such options
expiring January 29, 2020.

                           Going Concern

At September 30, 2009, the Company had total assets of $50,008,000
against total liabilities of $81,513,000, resulting in
shareholders' deficit of $31,505,000.  At December 31, 2009, the
Company had shareholders' deficit of $1,797,000.

The Company said its net working capital deficiency, recurring
operating losses, and negative cash flows from operations raise
substantial doubt about its ability to continue as a going
concern.  However, the successful delivery on major customer
contracts entered into since mid-2008 and continued success in
closing these types of contracts are expected to move the Company
into profitability.  In addition to those new contracts,
Management believes that the inclusion of VDUL's business and cash
flows will have a positive impact on future results.  At the same
time, expenses are managed closely and lower-cost outsource
opportunities are given case-by-case consideration.

Notwithstanding, the Company continues to find support among its
shareholders and other investors, as evidenced by the $5.6 million
and $35.8 million financing completed in 2009 and 2008.  This
capital was used to fund the VDUL acquisition, to strengthen its
core logistics business model, and to support existing operations.

                        About Capital Growth

Capital Growth Systems, Inc., and its subsidiaries operate in one
reportable segment as a single source telecom logistics provider
in North America and the European Union.  The Company helps
customers improve efficiency, reduce cost, and simplify operations
of their complex global networks -- with a particular focus on
access networks.


CAPMARK FINANCIAL: Asks for Permission for Securities Trading
-------------------------------------------------------------
The Official Committee of Unsecured Creditors in Capmark Financial
Group Inc.'s cases asks the Court to permit its members to trade
in the securities of the Debtors upon establishment and
implementation of "ethical walls."

The Committee asks the Court to determine that those Committee
Members, acting in any capacity, will neither violate their
duties as Committee Members or otherwise, nor subject their
claims to possible disallowance, subordination or other adverse
treatment by trading in:

  (i) stock, notes, bonds, debentures, participations in, or
      derivatives based upon or relating to, or any other claims
      against, any of the Debtors' or their non-debtor
      affiliates' debt obligations or equity interest; or

(ii) any other claims against or interests in any one or more
      members of the Debtors or their non-debtor affiliates that
      constitute "securities" within the meaning of applicable
      state or federal securities law or both, whether or not
      covered by Rule 3001(e) of the Federal Rules of Bankruptcy
      Procedure, as long as an Ethical Wall Entity that engages
      in any transaction has established and implemented an
      Ethical Wall reasonably designed, taking into
      consideration the nature of the Ethical Wall Entity's
      business activities, to prevent the misuse of any material
      nonpublic information that may be obtained as a result of
      a Committee Member's performance of Committee-related
      activities.

The Committee proposes these Ethical Wall procedures to be
employed by an Ethical Wall Entity, if it wishes to trade in
Securities:

(a) 1. Each Ethical Wall Entity will cause personnel designated
      to receive nonpublic Committee information to execute a
      letter acknowledging that they may receive nonpublic
      information and that they are aware of, and agree to
      comply with the order and the Ethical Wall procedures
      which are in effect with respect to the Securities;

   2. Committee Personnel will not share material nonpublic
      Committee information with any other employees of that
      Ethical Wall Entity other than in compliance with the
      Ethical Wall procedures;

   3. Ethical Wall Entity will take those steps necessary to
      restrict access to hard copy files containing information
      to non Committee Personnel.  Ethical Wall Entity will
      maintain separate phone numbers and facsimile lines for
      Committee Personnel;

   4. Each Ethical Wall Entity will take those steps necessary
      to restrict the exchange of information through electronic
      means between Committee Personnel and all non Committee
      Personnel, which will be monitored by that Ethical Wall
      Entity's compliance personnel;

   5. Committee Personnel will not receive any specific or
      detailed information regarding Ethical Wall Entity's
      trades in the Securities in advance of the execution of
      those trades;

   6. Each Ethical Wall Entity's compliance personnel will
      receive that Ethical Wall Entity's trades to determine if
      there is any reason to believe that those trades were not
      made in compliance with the information blocking
      procedures;

(b) 1. An Ethical Wall Entity that has already established and
      implemented policies and procedures reasonably designed,
      taking into consideration the nature of the Ethical Wall
      Entity's business activities, to restrict the flow of
      material nonpublic information from areas of that Ethical
      Wall Entity that routinely have access to those
      information to areas that trade in or sell securities or
      other assets or provide investment advice regarding
      securities and other non-public information may trade in
      Securities so long as it maintains and enforces the
      Existing Policies;

   2. Nothing will require an Electing Ethical Wall Entity to
      modify or supplement its Existing Policies, and compliance
      by that Electing Ethical Wall Entity with its Existing
      Policies.

                     About Capmark Financial

Based in Horsham, Pennsylvania, Capmark Financial Group Inc. --
http://www.capmark.com/-- is a diversified company that provides
a broad range of financial services to investors in commercial
real estate-related assets.  Capmark has three core businesses:
lending and mortgage banking, investments and funds management,
and servicing.  Capmark operates in North America, Europe and
Asia.  Capmark has 1,000 employees located in 37 offices
worldwide.

On October 25, 2009, Capmark Financial Group Inc. and certain of
its subsidiaries filed voluntary petitions for relief under
Chapter 11 (Bankr. D. Del. Case No. 09-13684)

Capmark's financial advisors are Lazard Freres & Co. LLC and
Loughlin Meghji + Company. Capmark's bankruptcy counsel is Dewey &
LeBoeuf LLP.  Richards, Layton & Finger, P.A. serves as local
counsel.  Beekman Advisors, Inc., is serving as strategic advisor.
KPMG LLP is tax and accounting advisor.  Epiq Bankruptcy
Solutions, LLC, is the claims and notice agent.

Capmark has total assets of US$20 billion against total debts of
US$21 billion as of June 30, 2009.

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


CAPMARK FINANCIAL: Proposes to Reject Leases & License Agreement
----------------------------------------------------------------
Capmark Financial Group Inc. and its units seek the Court's
authority to reject three unexpired nonresidential real property
office leases and one stadium suite license.  The premises leased
by certain of the Debtors pursuant to the Unexpired Leases are
currently subleased to subtenants pursuant to subleases between
certain of the Debtors and the subtenants.  The Debtors maintain
that the rejection of the Unexpired Leases will result in the
deemed rejection of the Subleases; however, the Debtors reserve
their right to explicitly reject the Subleases, if necessary, at a
future date.

The Unexpired Leases that the Debtor seek to reject are:

  (a) Lease agreement, dated December 22, 2004, between
      Brandywine Operating Partnership, L.P. and Mortgage
      Investments, LLC;

  (b) Lease agreement, dated October 24, 2006, between Liberty
      Property Limited Partnership and Capmark Finance Inc.;

  (c) Lease agreement, dated July 1, 2003, between OTR and CFGI;
      and

  (d) License Agreement, dated September 25, 2003, between
      Eagles Stadium Operator, LLC, and Capmark Finance Inc.

                     About Capmark Financial

Based in Horsham, Pennsylvania, Capmark Financial Group Inc. --
http://www.capmark.com/-- is a diversified company that provides
a broad range of financial services to investors in commercial
real estate-related assets.  Capmark has three core businesses:
lending and mortgage banking, investments and funds management,
and servicing.  Capmark operates in North America, Europe and
Asia.  Capmark has 1,000 employees located in 37 offices
worldwide.

On October 25, 2009, Capmark Financial Group Inc. and certain of
its subsidiaries filed voluntary petitions for relief under
Chapter 11 (Bankr. D. Del. Case No. 09-13684)

Capmark's financial advisors are Lazard Freres & Co. LLC and
Loughlin Meghji + Company. Capmark's bankruptcy counsel is Dewey &
LeBoeuf LLP.  Richards, Layton & Finger, P.A. serves as local
counsel.  Beekman Advisors, Inc., is serving as strategic advisor.
KPMG LLP is tax and accounting advisor.  Epiq Bankruptcy
Solutions, LLC, is the claims and notice agent.

Capmark has total assets of US$20 billion against total debts of
US$21 billion as of June 30, 2009.

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


CATHOLIC CHURCH: Court Confirms Fairbanks' Reorganization Plan
--------------------------------------------------------------
Judge Donald MacDonald IV of the U.S. Bankruptcy Court for the
District of Alaska confirmed the Catholic Bishop of Northern
Alaska and the Official Committee of Unsecured Creditors' Third
Amended and Restated Joint Plan of Reorganization, as amended on
the record, at the confirmation hearing held January 25, 2010.
Judge MacDonald also approved the Third Amended and Restated
Disclosure Statement explaining the Plan.

"With this ruling we can now begin the process of restoring trust
and healing," Fairbanks' Bishop, Donald Kettler, said in a
statement.

According to the Confirmation Hearing's proceeding memorandum,
parties will lodge with the Court an agreed confirmation order.
The Associated Press says the Third Amended Plan is expected to be
signed within a couple of weeks.

Judge MacDonald directed Howard M. Levine, Esq., at Sussman Shank
LLP, to ask for expedited approval of the resolution of the issues
between the Diocese and the Jesuits in the Chapter 11 case of the
Society of Jesus, Oregon Province, so that the Plan's effective
date, and the distribution to the tort claimants is not delayed.

James I. Stang, Esq., at Pachulski Stang Ziehl & Jones LLP, in
Wilmington, Delaware, advised the Court that a stipulation would
be forthcoming, which would allow retired California State Court
Judge William L. Bettinelli -- the mediator in the Diocese's
reorganization case  -- to begin his work.  The Court said it will
approve that stipulation once it's filed.

Under the Third Amended Plan, the Diocese, with additional help
from its KNOM division, the Parish Churches, the Monroe
Foundation, increased insurance settlements and agreements by
professionals to forego certain fees, has been able to commit to a
guaranteed payment of $9.8 million to the Fund for paying Tort
Claims.  The $9.8 million amount is net of administrative expenses
and will be transferred to the Fund by the Diocese on or before
the Third Amended Plan's effective date.

Kenneth S. Roosa, Esq., at Cooke Roosa LLC, in Anchorage, Alaska,
said he expects lengthy court action in the Diocese's litigation
against two insurance companies, Catholic Mutual Relief Society of
America and Travelers Casualty and Surety Co.  Mr. Roosa has
represented claimants against the Diocese.

"This is no huge milestone -- just another step along the path,"
AP quoted Mr. Roosa as saying.

                     Non-Monetary Actions

As previously reported, the Diocese's commitment to reconciliation
and healing is further reinforced in the Third Amended Plan by
continuing the Diocese's commitment to assist the healing process
and by Diocese's commitment to take additional non-monetary
actions, including the filing of the names of individuals
identifying them as priests, religious, lay employees and
volunteers accused of sexual abuse in the filed Proofs of Claim,
and the posting on the home page of its and the Diocese of
Fairbanks' Web page a prominent link on the home page to the names
of accused individuals and other known perpetrators.

Bishop Kettler will personally go to every Parish in which any
individuals were abused and where those accused persons served.
The Bishop will read from the pulpit a statement of apology and
encourage parishioners to support victims.  A general letter of
apology will be displayed on Fairbanks' Web site for a period of
10 years from the Effective Date.

"It was something we had hoped for and it said to me you've got a
lot of work to do for healing, and a lot more work yet to do,"
Fairbanks Daily News-Miner quoted Bishop Kettler as saying.  "I
have no objection.  Most of what they asked us to do I had already
started to do . . . It will be my primary task," he added.

                      Summary of Ballots

Reports note that the Plan was overwhelmingly accepted by the
creditors of the bankruptcy case:

Class                        Description             Vote
-----                        -----------             -----
Class 1                  No Vote/Unimpaired     Deemed Accepted
Priority Employee
Unsecured Claims

Class 2                 No Ballots Received          N/A
Prepetition Dated
Secured Tax Claims

Class 3                 No Ballots Received          N/A
Other Secured Claims

Class 4                 No Ballots Received          N/A
Great Falls Secured
Claim

Class 5                  No Vote/Unimpaired    Deemed Accepted
Annuity Secured
Claims

Class 6                 No Ballots Received          N/A
General Unsecured
Convenience Claims

Class 7                        Voting Class        Rejected
Jesuit Unsecured                   1 ballot            100%
Claims

Class 8                        Voting Class        Accepted
General Unsecured                 2 ballots            100%
Claims

Class 9                 No Ballots Received          N/A
Other Tort and
Employee Claims

Class 10                       Voting Class        Accepted
Tort Claims and                 256 ballots             99%
Future Tort Claims
                                                   Rejected
                                  2 ballots              1%

Class 11                 No Vote/Unimpaired     Deemed Accepted
Insurance and
Benefit Claims

Class 12                No Ballots Received          N/A
Continental Claims

Class 13                         Receive $0     Deemed Rejected
Pilgrim Springs
Claims

Class 14                         Receive $0     Deemed Rejected
Penalty Claims

Counsel for CBNA, Kasey C. Nye, Esq., at Quarles & Brady LLP, in
Tucson, Arizona, relates that with respect the Class 10 voting
results, one party submitted a ballot but had not filed a claim,
therefore that party's ballot was not counted.

Mr. Nye notes that the Diocese objected to 5 Tort Claims: Nos.
1014, 1204, 1251, 1252 and 1259.  Pursuant to the Disclosure
Statement Order, Tort Claimants whose Tort Claims had been
objected to, were barred from voting on the Plan.  Three out of
the five Tort Claimants whose Tort Claims had been objected to
voted affirmatively on the Plan, however, their votes have not
been counted.

There were 258 remaining Tort Claimants who voted, 256 of whom
voted to accept the Plan and 2 of whom voted to reject the Plan,
resulting in 99% of the Tort Claimants voting to accept the Plan
and 1% voting to reject the Plan, Mr. Nye explains.  Of the 256
Tort Claimants who voted to accept the Plan, one voted to
participate in the Convenience Tort Claim Class, he said.

             Nonmaterial Modification to the Plan

Prior to the approval of the Plan, the Diocese notified the Court
and parties-in-interest of certain nonmaterial modifications to
the Plan relating to the claims asserted by the Jesuits.  The
modification provides that:

  -- if and when allowed, the Diocese or the Reorganized Debtor
     will set off against the Jesuit Unsecured Claims against
     any recoveries in favor of the Diocese or the Reorganized
     Debtor for Claims against the Jesuits, on account of the
     Jesuit Fault Allocation Claims.  The Jesuits will not
     receive or retain anything on account of the Plan except
     and only to the extent that the amount of the Jesuit Fault
     Allocation Claims do not exceed any Allowed Jesuit
     Unsecured Claims;

  -- the set off of any Allowed Jesuit Unsecured Claims will
     occur prior to the distribution of any recoveries to the
     Fund on account of the Jesuit Fault Allocation Claims, in
     accordance with the terms of the Plan;

  -- the Allowed Jesuit Unsecured Claims will bear interest at
     the rate of 7% per annum from the date the Jesuit Unsecured
     Claims are Allowed until paid in full; and

  -- the Class 7 Jesuit Unsecured Claims are impaired under the
     Plan.

The Diocese also filed with the Court a copy of the list of
exhibits for the Confirmation Hearing, which list includes the
Plan and Disclosure Statement and their accompanying exhibits.

                    Confirmation Objections

The Society of Jesus, Oregon Province, asserted that the Plan
cannot be confirmed because it directly violates an order entered
in its own bankruptcy case, which bars CBNA from affecting the
Jesuits' rights, if any, under CBNA's insurance policies and
setting off its claims against those of the Jesuits without first
obtaining relief from the automatic stay in the Jesuit Case, among
other reasons.

Fathers Henry Hargreaves and Brad Reynolds, and James E. Poole
argued that the Plan can not be confirmed based upon the failure
to provide notice to all interested parties of the Plan and
Confirmation Hearing with an opportunity to object.  They pointed
out that due process requires notice to interested parties.

In its brief supporting the confirmation of the Plan and responses
to the confirmation objections, the Diocese argued that both
Objections "primarily attack straw men" rather than the content of
the Plan.

Counsel for the Diocese, Susan G. Boswell, Esq., at Quarles &
Brady LLP, in Tucson, Arizona, asserted that the Jesuits' theory
that it is an additional insured under certain Diocesan policies
is absurd on many levels because, among other reasons, the Jesuits
is not an additional insured under those policies.  She also
insisted that Fathers and Mr. Poole wrongly argued that the Plan
may affect their rights under the policies.

The Creditors Committee joined in and supported the Diocese's
response to the Objections.

Paul J. Sievers and David A. Paige, Esq., filed separate
declarations in support to the responses to the Objections.  Mr.
Sievers is the Creditors Committee's special insurance counsel,
while Mr. Paige is one of the Diocese's counsel.

                 About the Diocese of Fairbanks

The Roman Catholic Diocese of Fairbanks in Alaska, aka Catholic
Bishop of Northern Alaska, aka Catholic Diocese of Fairbanks, aka
The Diocese of Fairbanks, aka CBNA -- http://www.cbna.info/--
filed for chapter 11 bankruptcy on March 1, 2008 (Bankr. D. Alaska
Case No. 08-00110).  Susan G. Boswell, Esq., at Quarles & Brady
LLP represents the Debtor in its restructuring efforts.  Michael
R. Mills, Esq., of Dorsey & Whitney LLP serves as the Debtor's
local counsel and Cook, Schuhmann & Groseclose Inc. as its special
counsel.  Judge Donald MacDonald, IV, of the United States
Bankruptcy Court for the District of Alaska presides over
Fairbanks' Chapter 11 case.  The Debtor's schedules show total
assets of $13,316,864 and total liabilities of $1,838,719.

The church's plans to file its bankruptcy plan and disclosure
statement on July 15, 2008.  Its exclusive plan filing period
expires on January 15, 2009.  (Catholic Church Bankruptcy News;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


CATHOLIC CHURCH: Fairbanks Proposes Rule 9019 Settlements
---------------------------------------------------------
The Catholic Bishop of Northern Alaska asks the U.S. Bankruptcy
Court for the District of Alaska to approve settlement agreements
it entered separately with certain settling parties under Rule
9019 of the Federal Rules of Bankruptcy Procedure.  The Settling
Parties are:

  -- Alaska National Insurance Company;

  -- certain of the Diocese's parish churches;

  -- The Continental Insurance Company; and

  -- the Monroe Foundation, Inc.

The Agreements resolve issues between the Diocese and the Settling
Parties.

Under the ANIC Agreement, ANIC will pay the Diocese $1,400,000 and
will buy back CBNA's rights under certain insurance policies
covering CBNA, and will not purchase any rights under the Policies
belonging to the Anchorage Archdiocese, the Juneau Diocese, the
Society of Jesus, Oregon Province or any other person that is not
an Other Released Party under the Agreement.

Pursuant to the CIC Agreement, the Diocese and CIC will fully and
finally settle all claims against each other.  To do so, CIC will
have an allowed $1,200,000 general unsecured claim against the
bankruptcy estate, which CIC will assign to the fund established
in the Diocese's Plan of Reorganization to fund the Settlement
Trust created under the Plan.

Under its Agreement with the Diocese, the Parish Churches will
contribute $650,000 to be paid to the Estate with the proceeds
used to fund the Litigation and Settlement Trusts established by
the Plan.  Some of the Parish Churches are additional or co-
insureds with CBNA under various insurance policies, which provide
or may provide coverage for sexual misconduct.  Subject to the
terms of the Agreement, the Parish Churches agree to execute
necessary documents so that (i) all policies under which the
Parish Churches are insureds or co-insureds may be settled with
the proceeds used to fund the Fund established by the Plan, or,
(ii) so that all of those policies may be assigned to the Fund in
accordance with the terms of the Plan.  The source of the funds
for the $650,000 payment is the unrestricted parish funds in the
Catholic Trust of Northern Alaska.

The Foundation, under its Agreement with the Diocese, will
contribute $150,000 to be paid to the Estate no later than the
Plan's Effective Date.  In consideration for the mutual releases
and payment of the settlement amount, the Foundation will be
deemed a Participating Third Party and will be a beneficiary of
the channeling of the Tort Claims and Future Tort Claims to the
Settlement Trust and the Litigation Trust, and the issuance of the
Channeling Injunction through the confirmation of the Plan.  As a
result of the Channeling Injunction and releases provided in the
Agreement, it is contemplated the Foundation will not be subject
to certain claims against the Estate, including Tort Claims and
Future Tort Claims.

Susan G. Boswell, Esq., at Quarles & Brady LLP, in Tucson,
Arizona, relates that claims being settled in the Agreements
involve highly complex litigation that would take a long time to
resolve.  She asserts that the proposed settlements and settlement
amounts are reasonable, well within the range of likely outcomes
of the litigants' dispute, and CBNA has concluded that the
settlement reflects an appropriate balance of costs, risks and
potential rewards of litigation.

                        Jesuits Object

In separate objections, the Jesuits tell Judge MacDonald that the
proposed Agreements are corollary to the Diocese and Creditors
Committee's Plan.

Frederick J. Odsen, Esq., at Hughes Pfiffner Gorski Seedorf &
Odsen, LLC, in Anchorage, Alaska, tells the Alaska Bankruptcy
Court that in an order dated January 8, 2010, Judge Elizabeth
Perris of the U.S. Bankruptcy Court for the District of Oregon
ruled that the Diocese "shall not, through its plan or order
confirming its plan, affect SJOP's rights, if any, as an alleged
insured under any insurance policy or any other rights SJOP
alleges to have under any insurance policy."

Mr. Odsen contends that the Agreements violate Section 362(a) of
the Bankruptcy Code and the SJOP Stay Order because they (i)
affect the Jesuits' rights, if any, as an alleged insured under
any insurance policy or any other rights the Jesuits allege to
have under any insurance policy, and (ii) affect the Jesuits'
rights against any entity other than CBNA.

The Diocese is not authorized to release any of the Jesuits'
rights against any of the Settling Parties, Mr. Odsen argues.  He
points out that those rights, if any, are assets of the Jesuits'
bankruptcy estate and cannot be impaired by any other person or
entity.

                         *     *     *

According to the proceeding memorandum of the confirmation hearing
held January 25, 2010, the Diocese has put terms of the Agreement
on the record, and will lodge a stipulated order.  The Court noted
that the settlements are contingent upon written final approval of
the Plan.

                 About the Diocese of Fairbanks

The Roman Catholic Diocese of Fairbanks in Alaska, aka Catholic
Bishop of Northern Alaska, aka Catholic Diocese of Fairbanks, aka
The Diocese of Fairbanks, aka CBNA -- http://www.cbna.info/--
filed for chapter 11 bankruptcy on March 1, 2008 (Bankr. D. Alaska
Case No. 08-00110).  Susan G. Boswell, Esq., at Quarles & Brady
LLP represents the Debtor in its restructuring efforts.  Michael
R. Mills, Esq., of Dorsey & Whitney LLP serves as the Debtor's
local counsel and Cook, Schuhmann & Groseclose Inc. as its special
counsel.  Judge Donald MacDonald, IV, of the United States
Bankruptcy Court for the District of Alaska presides over
Fairbanks' Chapter 11 case.  The Debtor's schedules show total
assets of $13,316,864 and total liabilities of $1,838,719.

The church's plans to file its bankruptcy plan and disclosure
statement on July 15, 2008.  Its exclusive plan filing period
expires on January 15, 2009.  (Catholic Church Bankruptcy News;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


CATHOLIC CHURCH: Fairbanks Want Sanction on The Greens
------------------------------------------------------
The Catholic Bishop of Northern Alaska asks the U.S. Bankruptcy
Court for the District of Alaska to require Louis Green Sr. and
Nancy Green, and their attorney, Byron E. Collins, Esq., to appear
and show cause why they should not be sanctioned for their
egregious and willful violation of the automatic stay.

Susan G. Boswell, Esq., at Quarles & Brady LLP, in Tucson,
Arizona, relates that the Greens and Mr. Collins willfully
violated the automatic stay on multiple occasions from
November 25, 2009, to the present, which began with their filing
of a civil complaint against the Diocese in the Superior Court of
the state of Alaska.  The complaint sought to obtain title to
property of the bankruptcy estate through adverse possession.  Mr.
Collins's violations of the stay began on December 10, 2009, when
he refused to dismiss the complaint.

Not only did the Greens and Mr. Collins refuse to dismiss the
complaint, on December 30, 2009, they asked for a default judgment
against the Diocese in the Alaska Superior Court, Ms. Boswell
asserts.  "This egregious conduct warrants imposition of a
substantial punitive sanction as well as a civil contempt sanction
in order to compel compliance with the automatic stay," she points
out.

The Diocese, therefore, asks the Court to:

  -- require the Greens and Mr. Collins to appear and show cause
     why they should not be sanctioned for violating the
     automatic stay;

  -- rule that the Diocese does not need to respond to the
     complaint;

  -- direct the Greens and Mr. Collins to pay the Diocese all
     attorney's fees and cost incurred in connection with the
     stay violation; and

  -- direct the Greens and Mr. Collins to pay the Diocese $1,000
     per day for every day after December 15, 2009, that they
     failed to dismiss the complaint.

                         *     *     *

The Court granted the request following a shortened notice period.
Judge MacDonald said that both the filing of the complaint and the
filing of the default judgment request violated the automatic stay
provisions of Sections 362(a)(1), (3) and (6) of the Bankruptcy
Code.

In his 18-page memorandum, Judge MacDonald noted that the
automatic stay is one of the most important protections provided a
debtor in bankruptcy because it halts all collection efforts and
"affords the debtor time to propose a reorganization plan, or
simply 'to be relieved of the financial pressures that drove him
into bankruptcy,'" citing 48 Gruntz v. County of Los Angeles (In
re Gruntz), 202 F.3d 1074, 1081 (9th Cir. 2000).

Judge MacDonald also held that there is nothing in the Greens'
quiet title complaint or in the record before the Court to
indicate that they hold an adverse possession claim "under color
of title," because they do not have a written instrument, which
purports to give them title to Pilgrim Springs.  He noted that the
Greens were on the property with the permission of CBNA's lessee,
Pilgrim Springs, Ltd.  Hence, Judge MacDonald ruled that the quiet
title action is void, as it was filed in violation of the
automatic stay.

The Court directed the Greens and Mr. Collins to file a notice of
dismissal in the quiet title action by no later than February 4,
2010.  Should the Greens and Mr. Collins, fail to file a notice of
dismissal by February 4, Judge MacDonald held that a fine of
$1,000 per day thereafter will be imposed by the Court.

As a sanction for violation of the automatic stay, the Court ruled
that the Diocese will recover from the Greens and Mr. Collins its
reasonable attorneys' fees and costs incurred to date in pursuing
its sanction motion and in defending against the quiet title
action.  The Court directed the Diocese to submit by March 1,
2010, a motion in support of an award of attorneys' fees and
costs, detailing the fees and costs expended in these pursuits.

Prior to the entry of the order, the Greens asserted that the
Diocese has no legal or equitable interest remaining in "Pilgrim
Hot Springs" and that the property is not estate property.  They
insisted that they acquired title in fee simple absolute to
"Pilgrim Hot Springs" by adverse possession, prior to the Petition
Date.

                 About the Diocese of Fairbanks

The Roman Catholic Diocese of Fairbanks in Alaska, aka Catholic
Bishop of Northern Alaska, aka Catholic Diocese of Fairbanks, aka
The Diocese of Fairbanks, aka CBNA -- http://www.cbna.info/--
filed for chapter 11 bankruptcy on March 1, 2008 (Bankr. D. Alaska
Case No. 08-00110).  Susan G. Boswell, Esq., at Quarles & Brady
LLP represents the Debtor in its restructuring efforts.  Michael
R. Mills, Esq., of Dorsey & Whitney LLP serves as the Debtor's
local counsel and Cook, Schuhmann & Groseclose Inc. as its special
counsel.  Judge Donald MacDonald, IV, of the United States
Bankruptcy Court for the District of Alaska presides over
Fairbanks' Chapter 11 case.  The Debtor's schedules show total
assets of $13,316,864 and total liabilities of $1,838,719.

The church's plans to file its bankruptcy plan and disclosure
statement on July 15, 2008.  Its exclusive plan filing period
expires on January 15, 2009.  (Catholic Church Bankruptcy News;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


CATHOLIC CHURCH: Jesuits Want Lift Stay to Tender Insurance Claims
------------------------------------------------------------------
The Society of Jesus, Oregon Province, asks the U.S. Bankruptcy
Court for the District of Alaska to lift the automatic stay to
give notice of, and to take all appropriate or necessary actions
with respect to any claims in regard to the pertinent insurance
carriers as the Jesuits may, in its sole discretion, choose under
any or all of the insurance policies of the Catholic Bishop of
Northern Alaska.

Frederick J. Odsen, Esq., at Hughes Pfiffner Gorski Seedorf &
Odsen, LLC, in Anchorage, Alaska, tells the Alaska Bankruptcy
Court that the present balance owing to the Jesuits is partially
liquidated and partially unliquidated and is based upon three
different components:

  (1) a liquidated unsecured claim based on certain Promissory
      Notes for $217,081, Claim 17-1;

  (2) a contingent and unliquidated claim for allocation of
      fault and indemnity, including any right to allocate fault
      to the Diocese under Alaska Statutes 09.17.080, Claim
      16-1; and

  (3) a claim for contingent insurance coverage under any
      policies issued to the Diocese under which the Jesuits may
      be covered, Claim 20-1.

The Contingent Insurance Coverage Claims are based upon the extent
to which the Jesuits is determined to be a named insured,
additional insured, or otherwise entitled to coverage under the
insurance policies previously issued to the Diocese, including
those policies now subject to litigation in the Diocese's
adversary proceeding against certain insurers, Mr. Odsen relates.

Mr. Odsen notes that in an order dated January 8, 2010, Judge
Elizabeth Perris of the U.S. Bankruptcy Court for the District of
Oregon ruled that the Diocese "shall not, through its plan or
order confirming its plan, affect SJOP's rights, if any, as an
alleged insured under any insurance policy or any other rights
SJOP alleges to have under any insurance policy."

Mr. Odsen contends that granting the request is consistent with
the Oregon Bankruptcy Court Order and will not adversely affect
the Diocese's rights in and to the CBNA Insurance Policies since
the Jesuits, like the Diocese itself, has independent legal rights
or potential rights under the CBNA Insurance Policies, including
the right to defense and indemnification under the CBNA Insurance
Policies.  He adds that granting relief from stay will facilitate
the ends of justice in that the rights of third parties, like the
Jesuits, will be protected and preserved under applicable
nonbankruptcy law.

Objections to the request are due February 8, 2010.  If objections
are filed by February 8, a hearing to consider the request will be
held February 24, 2010.  If not, relief from stay will occur
automatically under Section 362(e) of the Bankruptcy Code.

                 About the Society of Jesus Oregon

Based in Portland, Oregon, Society of Jesus Oregon Province filed
for Chapter 11 protection on February 17, 2009 (Bankr. D. Oreg.
Case No. 09-30938).  Alex I Poust, Esq., Howard M. Levine, Esq.,
and Thomas W. Stilley, Esq., at Sussman Shank LLP, represent the
Debtor.  In its petition, the Debtor has $4,820,386 in total
assets, and $61,775,829 in total debts.

                 About the Diocese of Fairbanks

The Roman Catholic Diocese of Fairbanks in Alaska, aka Catholic
Bishop of Northern Alaska, aka Catholic Diocese of Fairbanks, aka
The Diocese of Fairbanks, aka CBNA -- http://www.cbna.info/--
filed for chapter 11 bankruptcy on March 1, 2008 (Bankr. D. Alaska
Case No. 08-00110).  Susan G. Boswell, Esq., at Quarles & Brady
LLP represents the Debtor in its restructuring efforts.  Michael
R. Mills, Esq., of Dorsey & Whitney LLP serves as the Debtor's
local counsel and Cook, Schuhmann & Groseclose Inc. as its special
counsel.  Judge Donald MacDonald, IV, of the United States
Bankruptcy Court for the District of Alaska presides over
Fairbanks' Chapter 11 case.  The Debtor's schedules show total
assets of $13,316,864 and total liabilities of $1,838,719.

The church's plans to file its bankruptcy plan and disclosure
statement on July 15, 2008.  Its exclusive plan filing period
expires on January 15, 2009.  (Catholic Church Bankruptcy News;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


CATHOLIC CHURCH: April 15 Bar Date Set in Wilmington Diocese Case
-----------------------------------------------------------------
Judge Christopher Sontchi at the U.S. Bankruptcy Court for the
District of Delaware has established April 15, 2010, at 4:00 p.m.
(Eastern), as the deadline for claimants to file a proof of claim
against Catholic Diocese of Wilmington, Inc., on account of
prepetition claims.

NetDockets notes the Claims Bar Date applies to tort claimants who
assert a claim "arising from abuse for which the individual
believes the Debtor may be liable," but those claimants must use a
separate proof of claim form and their proofs of claim will be
automatically deemed confidential unless the claimant specifically
designates otherwise on the proof of claim form.  Proofs of claim
filed by tort claimants will be accessible only by the debtor, its
counsel, its insurers, counsel to the Official Committee of
Unsecured Creditors and its members, and other parties allowed
access by a Court order.

                  About the Diocese of Wilmington

The Diocese of Wilmington covers Delaware and the Eastern Shore of
Maryland and serves about 230,000 Catholics.  The Delaware diocese
is the seventh Roman Catholic diocese to file for Chapter 11
protection to deal with lawsuits for sexual abuse.  Previous
filings were by the dioceses in Spokane, Washington; Portland,
Oregon; Tucson, Arizona; Davenport, Iowa, Fairbanks, Alaska; and
San Diego, California.

The bankruptcy filing automatically stayed eight consecutive abuse
trials scheduled in Delaware scheduled to begin October 19.  There
are 131 cases filed against the Diocese, with 30 scheduled for
trial.

The Diocese filed for Chapter 11 on Oct. 18, 2009 (Bankr. D. Del.
Case No. 09-13560).  Attorneys at Young Conaway Stargatt & Taylor,
LLP, serve as counsel to the Diocese.  The Ramaekers Group, LLC is
the financial advisor.  The Diocese reported $130,606,774 in total
assets against $166,551,784 in total liabilities as of
November 30, 2009.  The petition says assets range from
$50,000,001 to $100,000,000 while debts are between $100,000,001
and $500,000,000. (Catholic Church Bankruptcy News; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000).


CENTRAL METAL: Files for Chapter 11 Bankruptcy in California
------------------------------------------------------------
Central Metal Inc. filed for Chapter 11 in the U.S. Bankruptcy
Court in California, listing both assets and debts between
$10 million and $50 million, according to Lisa Gordon at AMM.com

The Company said it owes creditors $3.6 million including
$1.2 million to Bay City Trading LLC, and $240,000 to Zimex
Logitech Inc.

Based in California, Central Metal Inc. operates a recycling
facility, which is capable of processing 475,000 tons of ferrous
and non-ferrous metals annually.


CFT-III LLC: Updated Case Summary & 13 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: CFT-III, LLC
        353 South Main Street, Suite 503
        Decatur, IL 62523

Bankruptcy Case No.: 10-70160

Chapter 11 Petition Date: January 25, 2010

Court: United States Bankruptcy Court
       Central District of Illinois (Springfield)

Judge: Mary P. Gorman

Debtor's Counsel: Jonathan A. Backman, Esq.
                  117 N Center St
                  Bloomington, IL 61701
                  Tel: (309) 820-7420
                  Fax: (309) 820-7430
                  Email: jabackman@backlawoffice.com

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

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

A list of the Company's 13 largest unsecured creditors is
available for free at:

             http://bankrupt.com/misc/ilcb10-70160.pdf

The petition was signed by John Cardwell, manager of the company.


CHARLES ISON: Case Summary & 13 Largest Unsecured Creditors
-----------------------------------------------------------
Joint Debtors: Charles E. Ison
                 aka corp officer of The Creative
                     Network Studios Inc.

               Janice M. Ison
                 aka corp officer of The Creative
                     Network Studios Inc
                 fka Janice A. Ison
               124 Herndon Farm Rd.
               Kings Mt., NC 28086

Bankruptcy Case No.: 10-40036

Chapter 11 Petition Date: January 22, 2010

Court: United States Bankruptcy Court
       Western District of North Carolina (Shelby)

Judge: George R. Hodges

Debtors' Counsel: Richard M. Mitchell, Esq.
                  Mitchell & Culp, PLLC
                  1001 Morehead Square Drive
                  Suite 330, Charlotte, NC 28203
                  Tel: (704) 333-0630
                  Fax: (704) 333-4975
                  Email: rmmatty@mitchellculp.com

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

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

A full-text copy of the Debtors' petition, including a list of
their 13 largest unsecured creditors, is available for free at:

            http://bankrupt.com/misc/ncwb10-40036.pdf

The petition was signed by the Joint Debtors.


CINRAM INTERNATIONAL: S&P Cuts Corporate Credit Rating to 'B-'
--------------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its ratings on
Scarborough, Ontario-based Cinram International Inc., including
the long-term corporate credit rating to 'B-' from 'B'.  At the
same time, S&P placed all the ratings on CreditWatch with negative
implications.

"The rating actions follow the announcement that Cinram received
notice that Warner Home Video Inc. has exercised its option to
terminate its service agreements with Cinram on July 31, 2010,"
said Standard & Poor's credit analyst Lori Harris.  Warner Home
Video (WHV; not rated) is a subsidiary of Time Warner Inc.
(BBB/Stable/A-2).

Standard & Poor's believes the loss of the contract is substantial
given that WHV represented about 28% of Cinram's total revenue in
2009.  S&P is uncertain at this time of the contribution the WHV
contract made to Cinram's EBITDA last year; however, S&P expects
it to be significant.  "The contract loss will likely result in
Cinram's financial risk profile weakening, including higher
leverage and reduced liquidity, because of the expected decline in
EBITDA and free cash flow," Ms. Harris added.

S&P will likely keep the ratings on Cinram on CreditWatch negative
until Standard & Poor's meets with management and reviews the
company's business risk and financial risk profiles in light of
the WHV announcement.


COLONIAL BANCGROUP: Gets Final Approval to Access Non-Deposits
--------------------------------------------------------------
The Hon. Dwight H. Williams, Jr., of the U.S. Bankruptcy Court for
the Middle District of Alabama, in a final order, authorized The
Colonial BancGroup, Inc., to:

   -- use cash from sources other than the deposits to supplement
      the use of cash collateral; and

   -- grant replacement liens as adequate protection to the
      affected creditors.

The Debtor would use the additional cash collateral to pay monthly
operating and bankruptcy expenses; and professional fees and
expenses.

The Debtor won use cash representing collateral for secured
lenders' claims.  Alabama taxing authorities, Branch Banking &
Trust Co., and the FDIC all claim security interests in Colonial's
deposit accounts:

   a) The State of Alabama Department of Revenue -- $9,000,000
      which was revised to a sum less than $7 million.

   b) BB&T -- $24,027,299, which amount remains on deposit with
      BB&T under prior orders of the Court and the Debtor does not
      seek to make any change in the status quo as to the funds;
      and

   c) The FDIC-Receiver -- asserts a security interest in and a
      right of offset with respect to the deposits that is
      duplicative of the lien asserted by BB&T in the deposits and
      is based upon the same Security Agreement asserted by BB&T
      as the basis of its claim.

Headquartered in Montgomery, Alabama, The Colonial BancGroup, Inc.
(NYSE: CNB) was holding company to Colonial Bank, N.A, its
banking subsidiary.  Colonial bank -- http://www.colonialbank.com/
-- operated 354 branches in Florida, Alabama, Georgia, Nevada and
Texas with over $26 billion in assets.  On August 14, 2009,
Colonial Bank was seized by regulators and the Federal Deposit
Insurance Corporation was named receiver.  The FDIC sold most of
the assets to Branch Banking and Trust, Winston-Salem, North
Carolina.  BB&T acquired $22 billion in assets and assumed
$20 billion in deposits of the Bank.

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


CONTINENTAL AIRLINES: Pilot Union Threatens to Undo Joint Venture
-----------------------------------------------------------------
Christopher Hinton at MarketWatch reports Continental Airlines'
pilots union is threatening to undo a transatlantic joint venture
agreement Continental forged in 2009 with United Airlines, Air
Canada and Germany's Lufthansa, unless current labor talks result
in better job security.

Mr. Hinton recalls Continental, United, Air Canada and Lufthansa
won antitrust immunity from the U.S. Department of Transportation
in July 2009 to form the venture, which allows the partners to
pool revenue and coordinate airfare and routes more closely.  Mr.
Hinton says the venture is to be fully implemented by December.
The carriers already sell seats on each others' flights through
their Star Alliance, but the venture will help them compete more
effectively against rival agreements between members of the
SkyTeam Alliance.

Mr. Hinton says the Air Line Pilots Association said it has
contractual power to veto any venture that involves revenue
sharing with another domestic carrier.  According to Mr. Hinton,
the little-known provision -- called a scopes clause -- was
established to protect pilots from joint ventures that can
sometimes lead to a decrease in route growth or job cuts.
According to Mr. Hinton, in turn for backing the joint venture,
ALPA Continental MEC Chairman Capt. Jay Pierce said he wants the
airline to stop stalling over a new contract and to grant
additional job security.

Mr. Hinton relates Continental pilots have been in negotiations
with management since July 2007, but continue to work under a 2005
concessionary contract in the meantime.  That agreement called for
a $200 million a year reduction in pilot labor costs through wage
reductions, an increase in flying time and a retirement-plan
freeze, Capt. Pierce said, according to the report.

Mr. Hinton says for the pilots, the biggest fear is Continental
farming out new routes and jobs to its partner airlines, such a
United parent company's UAL Corp.'s arrangement with Ireland's Aer
Lingus.

"UAL provides not airplanes, no pilots; nothing," said Capt.
Pierce, according to Mr. Hinton.  "The flying is done by an alter-
ego airline, so UAL may get an enhancement through revenue, but
the pilots don't get anything out of the deal.  That's why this
job protection language is needed."

On January 21, the Continental pilots responded to the carrier's
release of its 2009 full-year and fourth-quarter results.  Capt.
Pierce said, "We are glad to see that Continental, while posting a
full-year loss, did show an operating profit for the last two
quarters, including the fourth quarter, which is usually a money
loser for airlines.  Additionally, we are pleased to see
Continental management invest in the future of the airline, with a
move to the Star Alliance and spending on new airplanes, new
seats, DIRECTV and Internet access on some aircraft.  However,
what is sorely missing in their release is mention of investment
in the very asset that is most critical to the success of the
airline: its employees.

"Labor groups at Continental Airlines have endured years of
working under concessionary contracts, with cuts in pay, work
rules and benefits. The pilots' contract is more than one year
past its amendable date, and we have been negotiating since July
2007.  With the potential gains in revenue from Continental's move
to the Star Alliance, continued positive economic indicators and
signs of recovery in the airline industry, management must now
turn its attention to making things right with its front-line
labor groups."

The pilots last met with management in early December 2009,
presenting the union's comprehensive proposal covering all
sections of the contract, including economic issues such as pay,
work rules, retirement and benefits.

Added Capt. Pierce, "The pilots of Continental Airlines have made
a personal investment of approximately $1 billion in wage, work
rule and benefit concessions over the last five years; we need to
get a return on that investment.  The 'thank you' in the company's
release is a nice gesture, but at some point you need to take care
of your employees."

ALPA represents more than 53,000 pilots at 37 airlines in the
United States and Canada, including approximately 5,000 pilots at
Continental Airlines.  There are 147 Continental pilots currently
on furlough.

                   About Continental Airlines

Continental Airlines Inc. (NYSE: CAL) --
http://www.continental.com/-- is the world's fifth largest
airline.  Continental, together with Continental Express and
Continental Connection, has more than 2,400 daily departures
throughout the Americas, Europe and Asia, serving 130 domestic and
132 international destinations.  Continental is a member of Star
Alliance, which provides access to more than 900 additional points
in 169 countries via 24 other member airlines.  With more than
41,000 employees, Continental has hubs serving New York, Houston,
Cleveland and Guam, and together with its regional partners,
carries roughly 63 million passengers per year.

Continental ended the third quarter of 2009 with $2.54 billion in
unrestricted cash, cash equivalents and short-term investments.
At September 30, 2009, Continental had $12.5 billion in total
assets against total current liabilities of $4.26 billion, long-
term debt and capital leases of $5.29 billion, deferred income
taxes of $180 million, accrued pension liability of $1.36 billion,
accrued retiree medical benefits of $241 million, and other
liabilities of $806 million; against stockholders' equity of
$446 million.

                       *     *     *

As reported by the Troubled Company Reporter on September 4, 2009,
Standard & Poor's Ratings Services lowered its issue-level ratings
on all senior unsecured debt of Continental to 'CCC+' from 'B-'
and revised the recovery ratings on certain unsecured debt issues,
excluding industrial revenue bonds, to '6' from '5'.  At the same
time, S&P affirmed its 'B' corporate credit rating and secured
debt ratings on Continental.

The ratings on Continental's unsecured debt are based principally
on declining aircraft values caused by the global aviation
downturn.  This could result in reduced asset protection for
unsecured creditors if Continental were to file for bankruptcy.

Continental continues to carry Moody's Investors Service's B2
corporate family and Fitch Ratings' 'B-' Issuer Default Rating and
'CC/RR6' from 'CCC/RR6' senior unsecured rating.


COOPER-STANDARD: Has Pledge for $245MM Investment; Files Plan
-------------------------------------------------------------
Cooper-Standard Holdings Inc., the parent company of Cooper-
Standard Automotive Inc., on Tuesday said it has entered into an
Equity Commitment Agreement with certain holders of the Company's
7% Senior Notes due 2012 and 8-3/8% Senior Subordinated Notes due
2014, providing for a commitment to backstop a $245 million equity
Rights Offering that will be made to eligible holders of the
Senior Notes and Senior Subordinated Notes.  The Rights Offering
will be effectuated through a proposed joint chapter 11 Plan of
Reorganization, which was filed Monday with the United States
Bankruptcy Court for the District of Delaware.  The Plan, the
Rights Offering, and all related transactions have the full
support of the Official Committee of Unsecured Creditors.

Under the Plan, and subject to confirmation of the Plan, the
Company's Debtor-in-Possession financing and prepetition credit
facility will be paid in full in cash.  Likewise, general
unsecured claims against Cooper-Standard Automotive and all of its
debtor subsidiaries will receive payment in full in cash.  Holders
of the Senior Notes will be issued 18.75% of the New Common Stock
of the Company, and eligible holders of the Senior Notes will
receive Rights to purchase, in the aggregate, 45% of the New
Common Stock of the Company.  Holders of the Senior Subordinated
Notes will be issued 6.25% of the New Common Stock of the Company
and Warrants to purchase, in the aggregate, 5% of the New Common
Stock on the terms set forth in the Plan, or, at the election of
such holders, a cash payment in lieu of the Warrants.  Eligible
holders of the Senior Subordinated Notes will also receive Rights
to purchase, in the aggregate, 15% of the New Common Stock of the
Company.

Pursuant to the Equity Commitment Agreement, certain holders of
the Company's Senior Notes and Senior Subordinated Notes have
agreed to purchase 15% of the New Common Stock and provide a
backstop for any unsubscribed portion of the Rights Offering in a
total amount of $245 million.  The commitment of these Backstop
Parties is subject to a number of conditions, including Bankruptcy
Court approval of the Equity Commitment Agreement and confirmation
of the Plan.

Under the Plan, the Company's balance sheet will be significantly
deleveraged with an estimated funded debt balance at emergence of
approximately $430 million.  This represents a reduction of over
$700 million from pre-petition levels.

"Obtaining a $245 million equity investment and filing our Plan
are significant achievements that pave the way for our expeditious
and efficient emergence from bankruptcy," stated James S. McElya,
Chairman and Chief Executive Officer of the Company.  "The Equity
Commitment Agreement is a strong statement of support by a
significant group of the company's current creditors, and the fact
that the Official Committee of Unsecured Creditors fully supports
the Plan and the Rights Offering strongly indicates that the
transaction is in the best interests of all of our unsecured
creditors.  The Plan and Equity Commitment Agreement will allow
the company to emerge from bankruptcy with a stronger balance
sheet and maintain its leadership position in the industry."

The hearing to approve the adequacy of the Disclosure Statement
filed in connection with the Plan is scheduled for March 9, 2010.
It is expected that the hearing to approve the Equity Commitment
Agreement will be scheduled for on or before March 9, 2010.
Cooper-Standard Automotive Canada Limited, the Company's Canadian
subsidiary that has sought relief under the Companies' Creditors
Arrangement Act in Canada, intends to file a Plan of Arrangement
or Compromise in the Canadian Court in the near term.  Court
approval of the Disclosure Statement is necessary to allow the
Company to solicit votes for confirmation of the Plan.
Consummation of the Plan is subject to a favorable vote by
creditors, review and approval of the Bankruptcy Court and
satisfaction of the confirmation requirements of the Bankruptcy
Code.

                      About Cooper-Standard

Cooper-Standard Automotive Inc. -- http://www.cooperstandard.com/
-- headquartered in Novi, Michigan, is a leading global automotive
supplier specializing in the manufacture and marketing of systems
and components for the automotive industry.  Products include body
sealing systems, fluid handling systems and NVH control systems.
The Company is one of the leading suppliers of chassis products in
North America, with about 14% of market share.  The Company's main
custoemrs include Ford Motor Company, General Motors, Chrysler,
Audi, Volkswagen, BMW, Fiat and Honda, among other automakers.
Cooper-Standard Automotive employs approximately 16,000 people
globally with more than 70 facilities throughout the world.

Cooper-Standard is a privately held portfolio company of The
Cypress Group and Goldman Sachs Capital Partners Funds.

Cooper-Standard Holdings Inc., together with affiliates, filed for
Chapter 11 on August 4, 2009 (Bankr. D. Del. Case No. 09-12743).
Attorneys at Fried, Frank, Harris, Shriver & Jacobson LLP and
Richards, Layton & Finger, P.A., will serve as bankruptcy counsel
to the Debtors.  Lazard Freres & Co. is serving as investment
banker while Alvarez & Marsal is financial advisor.  Kurtzman
Carson Consultants LLC is notice, claims and solicitation agent.
In its bankruptcy petition, the Company said that assets on a
consolidated basis total $1,733,017,000 while debts total
$1,785,039,000 as of March 31, 2009.

The Company's Canadian subsidiary, Cooper-Standard Automotive
Canada Limited, also sought relief under the Companies' Creditors
Arrangement Act in the Ontario Superior Court of Justice in
Toronto, Ontario, Canada.

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


COOPER-STANDARD: Monitor Reports Revised Cash Projections
---------------------------------------------------------
RSM Richter Inc., the firm appointed by the Ontario Superior
Court of Justice to monitor the assets of Cooper-Standard
Automotive Canada Ltd., filed a report on January 14, 2010, to
disclose a change to the company's projected cash flow for the
period ending April 4, 2010.

The change relates to a proposed payment to Canada Revenue Agency
of $19.9 million in the week of February 28, 2010.  Copies of the
initial and the revised projected cash flow statements are
available without charge at:

               http://researcharchives.com/t/s?4ddc
               http://researcharchives.com/t/s?4ddd

RSM Richter reported that a large portion of payment relates
directly to some transfer tax refunds, to date totaling
approximately $80 million, received by CSA Canada on July 27,
2009.

"The company had anticipated having to make this payment to CRA
but was uncertain as to timing," RSM Richter said in the report,
adding that it has reviewed the schedule supporting the payment
and believes that the "underlying assumptions and calculations
are reasonable."

RSM Richter further said that even after the payment to CRA, CSA
Canada is projected to have $74.7 million in cash at that time.

A full-text copy of RSM Richter's January 14 report is available
without charge at:

      http://bankrupt.com/misc/CSHI_Jan1410MonitorReport.pdf

                       About Cooper-Standard

Cooper-Standard Automotive Inc. -- http://www.cooperstandard.com/
-- headquartered in Novi, Michigan, is a leading global automotive
supplier specializing in the manufacture and marketing of systems
and components for the automotive industry.  Products include body
sealing systems, fluid handling systems and NVH control systems.
The Company is one of the leading suppliers of chassis products in
North America, with about 14% of market share.  The Company's main
customers include Ford Motor Company, General Motors, Chrysler,
Audi, Volkswagen, BMW, Fiat and Honda, among other automakers.
Cooper-Standard Automotive employs approximately 16,000 people
globally with more than 70 facilities throughout the world.

Cooper-Standard is a privately held portfolio company of The
Cypress Group and Goldman Sachs Capital Partners Funds.

Cooper-Standard Holdings Inc., together with affiliates, filed for
Chapter 11 on August 4, 2009 (Bankr. D. Del. Case No. 09-12743).
Attorneys at Fried, Frank, Harris, Shriver & Jacobson LLP and
Richards, Layton & Finger, P.A., will serve as bankruptcy counsel
to the Debtors.  Lazard Freres & Co. is serving as investment
banker while Alvarez & Marsal is financial advisor.  Kurtzman
Carson Consultants LLC is notice, claims and solicitation agent.
In its bankruptcy petition, the Company said that assets on a
consolidated basis total $1,733,017,000 while debts total
$1,785,039,000 as of March 31, 2009.

The Company's Canadian subsidiary, Cooper-Standard Automotive
Canada Limited, also sought relief under the Companies' Creditors
Arrangement Act in the Ontario Superior Court of Justice in
Toronto, Ontario, Canada.

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


COOPER-STANDARD: Ontario Court Hears Appeal on Tax Refunds
----------------------------------------------------------
The Ontario Court of Appeals has decided to hear an appeal by
Cooper-Standard Automotive Canada Ltd. that earlier challenged a
decision of the Ontario Superior Court of Justice.

CSA Canada, the Canadian unit of Cooper-Standard Holdings Inc.,
earlier asked the CA to hear its appeal on the Canadian Court's
prior order to segregate all tax refunds it received from Canada
Revenue Agency after September 29, 2009.

The company complained that the Canadian Court ordered a so-
called "mareva injunction" on the tax refunds although it was not
sought by Cooper Tire & Rubber Company and no one took an action
against CSA Canada to seek that ruling.

Cooper Tire asked the CA to dismiss the appeal.

Cooper Tire asserts ownership of about $60 million in tax refunds
and seeks to recover $42.5 million in additional tax refunds yet
to be received.  It filed a suit late last year against CSA
Canada, CSHI and Cooper-Standard Automotive Inc., demanding CSHI
to remit the tax refunds.

                       About Cooper-Standard

Cooper-Standard Automotive Inc. -- http://www.cooperstandard.com/
-- headquartered in Novi, Michigan, is a leading global automotive
supplier specializing in the manufacture and marketing of systems
and components for the automotive industry.  Products include body
sealing systems, fluid handling systems and NVH control systems.
The Company is one of the leading suppliers of chassis products in
North America, with about 14% of market share.  The Company's main
custoemrs include Ford Motor Company, General Motors, Chrysler,
Audi, Volkswagen, BMW, Fiat and Honda, among other automakers.
Cooper-Standard Automotive employs approximately 16,000 people
globally with more than 70 facilities throughout the world.

Cooper-Standard is a privately held portfolio company of The
Cypress Group and Goldman Sachs Capital Partners Funds.

Cooper-Standard Holdings Inc., together with affiliates, filed for
Chapter 11 on August 4, 2009 (Bankr. D. Del. Case No. 09-12743).
Attorneys at Fried, Frank, Harris, Shriver & Jacobson LLP and
Richards, Layton & Finger, P.A., will serve as bankruptcy counsel
to the Debtors.  Lazard Freres & Co. is serving as investment
banker while Alvarez & Marsal is financial advisor.  Kurtzman
Carson Consultants LLC is notice, claims and solicitation agent.
In its bankruptcy petition, the Company said that assets on a
consolidated basis total $1,733,017,000 while debts total
$1,785,039,000 as of March 31, 2009.

The Company's Canadian subsidiary, Cooper-Standard Automotive
Canada Limited, also sought relief under the Companies' Creditors
Arrangement Act in the Ontario Superior Court of Justice in
Toronto, Ontario, Canada.

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


COUNCIL ENTERPRISES: Case Summary & 6 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Council Enterprises,LLC
        PO Box 5086
        Concord, NC 28027

Bankruptcy Case No.: 10-30181

Chapter 11 Petition Date: January 28, 2010

Court: United States Bankruptcy Court
       Western District of North Carolina (Charlotte)

Judge: J. Craig Whitley

Debtor's Counsel: Sandra U. Cummings, Esq.
                  The Cummings Law Firm, P.A.
                  1230 W. Morehead Street, Suite 404
                  Charlotte, NC 28208
                  Tel: (704) 376-2853
                  Fax: (704) 376-3334
                  Email: c_firm@bellsouth.net

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

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

According to the schedules, the Company has assets of $1,047,000,
and total debts of $947,233.

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

             http://bankrupt.com/misc/ncwb10-30181.pdf

The petition was signed by Beverly J. Lessane, managing member of
the Company.


COUNTRYWIDE FINANCIAL: Faces Class Action Suit From CMBS Investors
------------------------------------------------------------------
Coughlin Stoia Geller Rudman & Robbins LLP and Barroway Topaz
Kessler Meltzer & Check, LLP, announced that a class action has
been commenced on behalf of purchasers of certain mortgage-backed
securities sponsored by affiliates of Countrywide Financial
Corporation and its wholly-owned subsidiary Countrywide Home
Loans, Inc. and related trusts, issued between 2005 and 2007.  The
case has been assigned a civil action number of 10-cv-00302-SJO-
PJW and is pending in the United States District Court for the
Central District of California.

The Complaint alleges claims under the Securities Act of 1933 as a
class action on behalf of investors who purchased or otherwise
acquired the following certificates: Alternative Loan Trust
Certificates issued by CWALT, Inc.; CWABS Asset-Backed Trust
Certificates issued by CWABS, Inc.; CHL Mortgage Pass-Through
Trust Certificates issued between 2005 and 2006 by CWMBS, Inc.;
and CWHEQ Revolving Home Equity Loan Trusts and Home Equity Loan
Trusts issued by, CWHEQ, Inc.  The Complaint alleges that
defendants issued the Certificates pursuant or traceable to the
following registration statements filed with the U.S. Securities
and Exchange Commission: 333-110343, 333-100418, 333-118926, 333-
117949, 333-121249, 333-125164, 333-123167, 333-125963, 333-
131591, 333-125902, 333-131662, 333-135846, 333-131630, 333-
140958, 333-140960, 333-140962, 333-121378, 333-126790, 333-
132375, 333-139891.  The Certificates were then sold to Class
members pursuant to certain prospectuses, which also were filed
with the SEC and incorporated by reference into the Registration
Statements.  More information about the Registration Statements
and Certificates, including details of the individual Prospectus
Supplements involved in this action, is contained in pages 13
through 52 of the Complaint, available at the web sites listed
above.  The Complaint charges that the Registration Statements and
Prospectus Supplements issued in connection with the Certificates
contained materially false and misleading statements and omitted
material information in violation of Sections 11, 12(a)(2) and 15
of the Securities Act.

Specifically, the Complaint charges that Countrywide, certain
officers and directors of CWALT, CWABS, CWMBS and CWHEQ, and
certain investment banks, which served as underwriters of the
Certificates, violated the Securities Act by issuing the
Certificates pursuant to Registration Statements and Prospectus
Supplements that misrepresented the quality of the underlying
mortgages that had been pooled and placed in the issuing trusts.
The Complaint alleges various misrepresentations and omissions as
to the underwriting practices employed in originating the
mortgages, the sufficiency of the collateral and the appraisal
practices used to support the mortgages.  As a result of the
material misrepresentations and omissions in the Registration
Statements and Prospectus Supplements, investors purchased
securities that were far riskier than represented.

According to the Complaint, by mid-2007 the mortgages held by the
Issuing Trusts and underlying the Certificates began suffering
accelerating delinquencies and defaults.  The defaults led to real
estate foreclosures, which revealed that the properties underlying
the mortgages were worth materially less than the loans issued to
the borrowers, and the borrowers did not have sufficient financial
wherewithal to cover the outstanding mortgage balances.  The
representations made in the Company's Prospectus Supplements were
materially false and misleading because at the time of the
Certificates offerings, Countrywide's underwriting standards were
not designed to evaluate a borrower's ability to repay or the true
value of the mortgaged property underlying the Certificates.
These adverse factors were not revealed and/or adequately
addressed in the offering documents.

The Complaint alleges that defendants could have -- and should
have -- discovered the material misstatements and omissions in the
Company's Prospectus Supplements prior to their filing with the
SEC and distribution to the investing public.  Instead, they
failed to do so as a result of a negligent and inadequate due
diligence investigation.  Had Plaintiffs and the other members of
the Class known the truth, they would not have purchased the
Certificates, or they would not have purchased them at the
inflated prices that were paid.  Plaintiffs seek to recover
damages on behalf of all purchasers of the Certificates issued
between 2005 and 2007.

The Plaintiffs are represented by Coughlin Stoia and Barroway
Topaz. Both law firms have expertise in prosecuting investor class
actions and extensive experience litigating actions involving
violations of the Securities Act.

Coughlin Stoia, a 180-lawyer firm with offices in San Diego, San
Francisco, New York, Boca Raton, Washington, D.C., Philadelphia
and Atlanta, -- http://www.csgrr.com/-- is active in major
litigations pending in federal and state courts throughout the
United States and has taken a leading role in many important
actions on behalf of defrauded investors, consumers, and
companies, as well as victims of human rights violations.

Barroway Topaz -- http://www.btkmc.com/-- prosecutes class
actions in both state and federal courts throughout the country
and is a driving force behind corporate governance reform, and has
recovered billions of dollars on behalf of institutional and
individual investors from the United States and around the world.

                   About Countrywide Financial

Based in Calabasas, California, Countrywide Financial Corporation
(NYSE: CFC) -- http://www.countrywide.com/-- is a diversified
financial services provider and a member of the S&P 500, Forbes
2000 and Fortune 500.  Through its family of companies,
Countrywide originates, purchases, securitizes, sells, and
services residential and commercial loans; provides loan closing
services such as credit reports, appraisals and flood
determinations; offers banking services which include depository
and home loan products; conducts fixed income securities
underwriting and trading activities; provides property, life and
casualty insurance; and manages a captive mortgage reinsurance
company.

As reported in the Troubled Company Reporter on July 2, 2008, BofA
completed its purchase of Countrywide for $2.5 billion.  The
mortgage lender was originally priced at $4 billion, but the
purchase price eventually was whittled down to $2.5 billion based
on BofA's stock prices that fell over 40% since the time it agreed
to buy the ailing lender.


CRESCENT RESOURCES: Files Plan of Reorganization
------------------------------------------------
Crescent Resources disclosed that the company and certain of its
subsidiaries have filed a Plan of Reorganization and Disclosure
Statement with the U.S. Bankruptcy Court in the Western District
of Texas, Austin Division.  The Plan is supported by a significant
group of the company's pre-petition lenders.

Crescent expects to emerge from its financial restructuring with
a significantly improved balance sheet and with substantially
less debt.  Under the terms of the Plan, the Company's
outstanding secured debt would be reduced by approximately
$1 billion to $465 million.  In addition, Crescent is currently
soliciting proposals for an exit financing facility of
approximately $125-150 million, the proceeds of which will
refinance outstanding Debtor-in-Possession borrowings, fund exit
costs and provide significant working capital.

Andrew Hede, Chief Executive Officer and Chief Restructuring
Officer of Crescent Resources said, "The filing of our Plan of
Reorganization marks the final stage in the restructuring process,
and we expect to emerge from bankruptcy early in the second
quarter of 2010.  The plan will provide for a significantly
deleveraged capital structure with greater financial flexibility
to execute our business plan and operate the company long-term.
We appreciate the support of our lenders, vendors, customers,
employees and partners during this process."

Mr. Hede continued, "With a restructured balance sheet, solid
financial foundation and strategic focus on core and high-value
assets, Crescent will emerge as a stronger company that is better
positioned to compete and serve our customers.  While we are
beginning to see positive signs of recovery in each of our
business units and each of our markets, we continue to anticipate
a gradual recovery over the next 12 -18 months.  The capital
structure contemplated in our Plan is correctly sized for current
market opportunities.  I am confident we have both the financial
flexibility and strategy to succeed."

Significant terms of the Plan include:

   -- Holders of prepetition secured debt will receive a
      combination of reinstated debt and 100% of the equity of the
      reorganized company.

   -- General unsecured creditors of the company shall receive an
      interest in a litigation trust to be formed as part of the
      Plan.

   -- Various project level lenders shall have their existing debt
      reinstated.

Crescent Resources, LLC, and certain of its subsidiaries filed for
protection under Chapter 11 of the U.S. Bankruptcy Court in the
Western District of Texas, Austin Division on June 10, 2009.

                     About Crescent Resources

Crescent Resources, LLC -- http://www.crescent-resources.com/--
is a land management and real estate development company with
interests in 10 states in the southeastern and southwestern United
States.  Based in Charlotte, North Carolina, Crescent Resources is
a joint venture between Duke Energy and the Morgan Stanley Real
Estate Funds.  Established in 1969, Crescent creates mixed-use
developments, award-winning country club communities, single-
family neighborhoods, apartment and condominium communities, Class
A office space, business and industrial parks and shopping
centers.

Crescent Resources and 120 affiliates filed separate chapter 11
petitions on June 10, 2009 (Bankr. W.D. Tex. Lead Case No. 09-
11507).  The Hon. Craig A. Gargotta presides over the case.
Attorneys at Weil Gotshal Manges LLP represent the Debtors in
their Chapter 11 cases.  Eric J. Taube, Esq., at Hohmann, Taube &
Summers, L.L.P., serves as the Debtors' co-counsel.  Garden City
Group serves as claims and notice agent.  The Debtors disclosed
more than $1 billion each in assets and debts when they filed for
bankruptcy.


CROSS CANYON: Files for Chapter 11 with Prepackaged Plan
--------------------------------------------------------
Cross Canyon Energy Corp. (OTC BB:CCYE) on January 29 filed a
voluntary petition for reorganization under Chapter 11 of the
United States Bankruptcy Code in the United States Bankruptcy
Court for the Southern District of Texas, Houston Division.  The
Company said in a statement that it will continue to manage its
properties and operate its businesses in the ordinary course
throughout the Chapter 11 process while the Company seeks
confirmation of its reorganization plan under the jurisdiction of
the Bankruptcy court.

The Chapter 11 Case was filed pursuant to a Plan Support and Lock-
Up Agreement, dated as of January 28, 2010, among the Company and
the holders of all of the Company's outstanding senior secured
debt, in the aggregate amount of approximately $35.2 million.
Pursuant to the Plan Support Agreement, the Company commenced a
solicitation of the Prepetition Secured Lenders and the holder of
all of the Company's outstanding Series C Convertible Preferred
Stock, as the only impaired classes entitled to vote on the
Company's proposed prepackaged plan of reorganization.  As part of
the prepetition solicitation, the Prepetition Secured Lenders and
the Prepetition Preferred Stockholder each received copies of the
Plan, the related disclosure statement and a ballot requesting
each of them to accept or reject the Plan.  On January 29, 2010,
the Company received ballots from the Prepetition Secured Lenders
and the Prepetition Preferred Stockholder accepting the Plan.

The Company was compelled to file for Chapter 11 relief as a
result of its inability to service its outstanding debt
obligations.  A number of factors, most notably the general
economic turmoil that occurred in the U.S. and global credit
markets in late 2008 and early 2009, as well as steeply declining
commodity prices and the Company's operating results, precluded
the Company from making a required interest payment of $446,361 to
its Prepetition Secured Lenders that was due on September 4, 2009.
At December 31, 2009, the Company's current liabilities grossly
exceeded its current assets by approximately $34.5 million.

As the Company proceeds with its financial restructuring, the
Company expects, based on current commodity prices, that its cash
on hand and cash from operating activities will be adequate to
fund its projected cash needs, including the payment of operating
costs and expenses.  In connection with the filing of the Chapter
11 Case, the Company asked the Bankruptcy court to consider
several "first day" motions on an expedited basis benefiting its
employees and vendors.  Importantly, the Company intends, under
the Plan, to pay all of its creditors, other than the Prepetition
Secured Lenders, in full, whether their claims arose prior to or
after the filing of the Chapter 11 Case, and to continue paying
its employees' salaries and benefits and to maintain its cash
management systems.

Upon consummation of the Plan, the Company will cease filing
periodic and other reports with the Securities and Exchange
Commission, and current holders of the Company's common stock will
share 5% of the new common stock issued by the reorganized
Company, on a pro rata basis.  Such "new" common stock will not be
listed for trading on any exchange.  The Plan also provides for
the Prepetition Secured Lenders to enter into a new $10 million
senior secured credit facility, and to receive securities in the
reorganized Company, consisting of new shares of senior preferred
stock and new common stock.  The Prepetition Preferred Stockholder
will receive new shares of junior preferred stock.

Cross Canyon Energy Corp., formerly doing business as ABC Funding,
Inc., filed for Chapter 11 on Jan. 29, 2010 (Bankr. S.D. Tex. Case
No. 10-20088 / 10-30747).  The petition says that assets and debts
range from $10,000,001 to $50,000,000. The Company has retained
Thompson & Knight LLP as legal counsel, and Grant Thornton LLP as
financial advisor.


CRUCIBLE MATERIALS: Ch. 11 Plan to Dole Out Asset Sale Proceeds
---------------------------------------------------------------
Crucible Materials Corp. has filed a proposed Chapter 11
liquidating plan.

Under the Plan, secured creditors would be unimpaired, unsecured
creditors would receive distributions from remaining funds and
equity holders won't be receiving anything.

The Plan was filed before the exclusive period to file a plan was
scheduled to expire on February 1.  The Debtors have not yet filed
a disclosure statement to explain in detail the terms of the Plan.

The Debtors have sought permission from the Bankruptcy Court to
delay the filing of the Disclosure Statement.  They noted that the
sale of their remaining assets closed on January 28 and they still
need to analyze the impact of the closing on anticipated creditor
recoveries.  They expect to file the plan outline by February 26.

A copy of the Liquidating Plan is available for free at:

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

Crucible sold most of the assets to three buyers in September for
$52 million.  Crucible sold (i) its compaction metals and research
divisions to Allegheny Technologies Incorporated for $40.95
million at an auction, (ii) its specialty metals division located
in Syracuse, New York, to Crucible Industries LLC, for $8 million,
and (iii) its service center in Romeoville, Illinois, to Erasteel
Inc., a unit of Eramet SA, for $2 million.  In January Crucible
Materials sold remaining assets for $13.2 million to SBI Trading
Co.

                     About Crucible Materials

Based in Syracuse, New York, Crucible Materials Corporation -- aka
Crucible Specialty Metals, Crucible Service Centers, Crucible
Compaction Metals, Crucible Research and Trent Tube --
http://www.crucible.com/-- makes stainless and alloy steel for
use in the aircraft, automotive, petrochemical, and other
industries.  The Company was employee-owned prior to its
bankruptcy filing.

The Company and its affiliate, Crucible Development Corporation,
filed for Chapter 11 protection on May 6, 2009 (Bankr. D. Del.
Lead Case No. 09-11582).  Mark Minuti, Esq., at Saul Ewing LLP
represents the Debtors in their restructuring efforts.  The
Debtors engaged Duff & Phelps Securities LLP as investment banker;
RAS Management Advisors LLC as business advisor; and Epiq
Bankruptcy Solutions LLC as claims agent.  Roberta A. DeAngelis,
United States Trustee for Region 3, appointed five creditors to
serve on the Official Committee of Unsecured Creditors.  The
Debtors listed assets and debts both ranging from $100 million to
$500 million.


DEMING INDUSTRIES: Case Summary & 18 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Deming Industries, Inc.
        2945 Government Way
        Coeur D Alene, ID 83815

Bankruptcy Case No.: 10-20055

Chapter 11 Petition Date: January 28, 2010

Court: United States Bankruptcy Court
       District of Idaho [LIVE] (Coeur dAlene)

Judge: Chief Judge Terry L. Myers

Debtor's Counsel: Bruce A. Anderson, Esq.
                  1400 Northwood Ctr Ct #C
                  Coeur d'Alene, ID 83814
                  Tel: (208) 667-2900
                  Fax: (208) 667-2150
                  Email: baafiling@ejame.com

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

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

According to the schedules, the Company has assets of $1,124,225,
and total debts of $659,524.

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

             http://bankrupt.com/misc/idb10-20055.pdf

The petition was signed by Michael Deming, president of the
Company.


DEWITT LEE WEARY: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Joint Debtors: Dewitt Lee Weary, III
                 dba Care Management
               Tamarra Tranaise Weary
                 dba Care Management
                 dba Care Management
               8 Country Lane
               Columbia, IL 62236

Bankruptcy Case No.: 10-30165

Chapter 11 Petition Date: January 25, 2010

Court: United States Bankruptcy Court
       Southern District of Illinois (East St Louis)

Judge: Kenneth J. Meyers

Debtors' Counsel: Donald M. Samson, Esq.
                  Attorney
                  226 W Main St, Suite 102
                  Belleville, IL 62220
                  Tel: (618) 235-2226
                  Email: dnldsamson@yahoo.com

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

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

According to the schedules, the Company has assets of $1,283,754
and total debts of $1,457,405.

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

             http://bankrupt.com/misc/ilsb10-30165.pdf

The petition was signed by the Joint Debtors.


DRINKS UNIQUE: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: Drinks Unique, Inc.
        1808 10th Street, Suite 100
        Plano, TX 75074

Bankruptcy Case No.: 10-40196

Chapter 11 Petition Date: January 21, 2010

Court: United States Bankruptcy Court
       Eastern District of Texas (Sherman)

Debtor's Counsel: Christopher J. Moser, Esq.
                  Quilling, Selander, Cummiskey & Lownds
                  2001 Bryan Street, Suite 1800
                  Dallas, TX 75201-3005
                  Tel: (214) 871-2100
                  Email: cmoser@qsclpc.co

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

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

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

The petition was signed by Kurt H. Ruppman Sr., chief executive
officer of the Company.


EDRA BLIXSETH: LeMond Mulls Challenging $8.5MM Bid for Property
---------------------------------------------------------------
Matthew Brown at Bloomberg's BusinessWeek reports that John
Shaffer, Esq., the lawyer of Greg LeMond, told the U.S. Bankruptcy
Court in Missoula, Montana, at the end of a Friday hearing that
the three-time Tour de France winner and his in-laws plan to bid
on a 160-acre parcel of land in the Yellowstone Mountain Club.

BusinessWeek says the move could spark a bidding war with
CrossHarbor Capital Partners, Yellowstone Club's new owners.

As reported by the Troubled Company Reporter on January 19, 2010,
Richard J. Samson, Esq., at Christian, Samson & Jones, Pllc, in
Missoula, Montana, the chapter 7 trustee appointed to oversee the
liquidation of the bankruptcy estate of Edra D. Blixseth, seeks
permission from the Bankruptcy Court to sell Ms. Blixseth's 160-
acre "family compound" at Yellowstone Club to CrossHarbor's CIP
Yellowstone Lending LLC for $8.5 million, subject to higher or
better offers.  The Chapter 7 Trustee seeks to sell the Property
free and clear of all Claims and Interests.

The purchase price consists of $500,000 cash and a credit bid for
$8 million.

According to the TCR, the Property does not include any membership
privileges in, or rights to use the facilities of, the Yellowstone
Mountain Club and CIP or any Successful Bidder will be required to
make separate application to the Yellowstone Mountain Club for
such membership privileges and, if accepted for membership, pay
any and all associated costs thereof to the Yellowstone Mountain
Club.

Dow Jones Newswires' Jacqueline Palank Blixseth creditor Greg
LeMond has argued CIP's offer is "paltry" compared to the
$56 million offer the would-be purchaser made just a few years
ago.  Ms. Palank said among Mr. LeMond's objections to the deal is
a lack of justification for the $8.5 million price tag, especially
given CIP's prior effort to nab the property.

"CIP was scheduled to pay $56 million for the family compound
approximately one and one-half years ago and secured the property
with $35 million in mortgages," Mr. LeMond said in court papers,
according to Ms. Palank.  "Clearly, CIP believes, and the property
is, worth much more than the paltry $8.5 million offer."

Ms. Palank in a separate report says CrossHarbor holds $35 million
in liens on the property in connection with loans it made Ms.
Blixseth, and its claim is senior to Mr. LeMond's.

BusinessWeek says the property includes two houses but is
considered more valuable for its development potential.

BusinessWeek says Mr. LeMond and in-laws David and Sacia Morris
own homes at the 13,600-acre resort and were among its original
members.  In 2006, they sued the Blixseths for cutting them out of
profits related to the Credit Suisse loan, eventually settling for
$39.5 million.

Ms. Palank reports Mr. LeMond's lawyer asked the Bankruptcy Court
to extend the sale process by 120 days so he has time to formulate
a bid.  But the judge didn't rule on the request at Friday's
hearing, Ms. Palank relates, so it's too soon to tell whether Mr.
LeMond will emerge victorious or just end up spinning his wheels.

                      About Edra D. Blixseth

Edra D. Blixseth owns the Porcupine Creek Golf Club in Rancho
Mirage and the Yellowstone Club in Montana.  Ms. Blixseth filed
for Chapter 11 bankruptcy protection on March 26, 2009 (Bankr. D.
Mont. Case No. 09-60452).  Gary S. Deschenes, Esq., at Deschenes &
Sullivan Law Offices assists Ms. Blixseth in her restructuring
efforts.  The Debtor listed $100 million to $500 million in assets
and $500 million to $1 billion in debts.

The Hon. Ralph B. Kirscher of the U.S. Bankruptcy Court for the
District of Montana converted Ms. Blixseth's Chapter 11
reorganization case to a Chapter 7 liquidation proceeding.


EDWARD MANDEL: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: Edward Mandel
        5653 Monterey Drive
        Frisco, TX 75034

Bankruptcy Case No.: 10-40219

Chapter 11 Petition Date: January 25, 2010

Court: United States Bankruptcy Court
       Eastern District of Texas (Sherman)

Debtor's Counsel: Mark H. Ralston, Esq.
                  Ralston Law Firm
                  2603 Oak Lawn Ave., Suite 230
                  Dallas, TX 75219
                  Tel: (214) 295-6416
                  Fax: (214) 281-8720
                  Email: ralstonlaw@gmail.com

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

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

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

The petition was signed by Mr. Mandel.


ERICKSON RETIREMENT: BofA Wants Dallas Units to Have Own Committee
------------------------------------------------------------------
Bank of America, N.A., asks the Court to:

  (a) disband the Official Committee of Unsecured Creditors in
      the Chapter 11 cases of Erickson Retirement Communities LLC
      affiliates Dallas Campus, LP and Dallas Campus GP, LLC; or

  (b) reconstitute the Committee in Dallas LP's Chapter 11 case
      so that it is comprised of Dallas LP' unsecured creditors.

BofA is the administrative agent of the senior secured
prepetition revolving lenders of Dallas Campus LP.

Meagan Martin, Esq., at Spencer Crain Cubbage Healy & McNamara,
pllc, in Dallas, Texas, contends that there is no meaningful role
for a committee of unsecured creditors in Dallas LP's Chapter 11
case.  She notes that Dallas LP reported about $17 million in
assets and more than $144 million in secured debt in its
Schedules of Assets and Liabilities, $53.6 million of which is
owed to BofA and secured by a first-priority, all asset liens.
In contrast, the Committee represents creditors holding only
$20,042 in claims in Dallas LP' Chapter 11 case.  The $20,042
claims are unsecured and are junior to the $53.6 million senior
secured claim held by BofA, she further points out.  Since it is
clear that Dallas LP's assets are insufficient to pay BofA's
claim in full, Ms. Martin argues that it is highly unlikely that
unsecured creditors will receive any distribution in Dallas'
Chapter 11 case.

Ms. Martin further asserts that although the United States
Trustee for Region 6 adjusted the membership of the Committee,
that adjustment does not solve the problem.  She points out that
Morgan Stanley, the recently appointed member of the Committee is
not a creditor of Dallas LP; but is an affiliate of MSRESS III
Dallas Campus, L.P.  The MSRESS Subdebt Holder holds claims which
are expressly subordinate to the claims of BofA and thus, is not
eligible to serve on a committee in Dallas LP's Chapter 11 case,
she argues.

More importantly, Ms. Martin stresses that the Committee has
taken a litigious approach against BofA that cannot be justified
based on the relatively small aggregate claims of the unsecured
creditors and the unsecured creditors subordinated position in
Dallas LP's Chapter 11 case.  The only effect that the actions of
the Committee are likely to have, she points out, is that they
will derail the possibility of negotiations among the true
constituencies in Dallas LP's Chapter 11 case -- Dallas, BofA, a
single taxing authority, and the subordinated creditors.

Thus, BofA urges the Court to disband the Committee with regard
to Dallas LP.  However, if the Court finds that an unsecured
creditors' committee should remain in Dallas LP's Chapter 11
case, BofA insists that the creditors committee should be
comprised of creditors of Dallas LP whose claims are not
subordinate to claims of BofA.  If the U.S. Trustee cannot find a
sufficient number of true creditors of Dallas LP, the Committee
should be disbanded with respect to Dallas, BofA maintains.

Ms. Martin further notes that Dallas GP's liabilities are only
guaranty claims held by secured lenders and Dallas GP has no
unsecured creditors.  Thus, there can be no unsecured creditors'
committee with regarding to Dallas GP, she asserts.

                      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 Oct. 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)


ERICKSON RETIREMENT: Court Tackles Possible Global Mediation
------------------------------------------------------------
Judge Jernigan of the United States Bankruptcy Court for the
Northern District of Texas convened a status conference on
January 22, 2010, to discuss the possibility of a global
mediation in the Chapter 11 cases of Erickson Retirement
Communities, LLC, and its debtor affiliates.

Before the January 22 status conference was held, the Official
Committee of Unsecured Creditors asserted that the framework
presented by the Debtors in light of a possible global mediation
was nothing like what actually transpired.

The Committee's counsel, Samuel M. Stricklin, Esq., at Bracewell
& Giuliani LLP, in Dallas, Texas, disclosed that the Committee's
professionals were gathered in a conference room for about eight
hours without having a single discussion with the project lenders
and corporate lender.  While the Debtors' advisors approached the
Committee for their settlement offer, the Committee has not
received an offer from the lenders or even had a single
discussion with any of the lenders with respect to the terms of a
settlement, he said.  Contrary to the Debtors' previous
assertions, Mr. Stricklin pointed out, the Debtors did not hold a
follow-up meeting during the week of January 18, 2010 if a
compromise could not be achieved.

The Committee thus complained that the Debtors' conduct belies
their objective of expediting these Chapter 11 cases for the
benefit of the retiree residents.  The Committee is also
perplexed how the Debtors can expect to achieve any good faith
compromise without a single meeting among all of the participants
to their "mediation," Mr. Stricklin related.  If a global
compromise is to be obtained in the Debtors' Chapter 11 cases, a
mediator should be appointed by the Court, the Committee
insisted.

The Committee thus urged the Court to require the Debtors to
produce all documents requested by the mediator to facilitate a
comprehensive analysis of the issues.  The Committee added that
its Motion for Proper Allocation of Value under the Debtors'
First Amended Joint Plan of Reorganization should remain on a
parallel track.

In response to the Committee, the Debtors informed the Court that
since the entry of the January 14, 2010 order continuing the
status conference to January 22, 2010, they have made significant
progress toward achieving a global settlement of all the issues
between them and their creditor constituencies.  The Debtors
averred that they were able to:

  (a) facilitate an agreement reached by the "Corporate Revolver
      Lenders" and "Project Construction Lenders" regarding the
      allocation of the purchase price for the Debtors' assets
      and costs which will form the basis for a plan of
      reorganization;

      The Corporate Revolver Lenders consist of PNC
      Manufacturers and Traders Trust Company, Sovereign Bank,
      Virginia Commerce Bank, Wilmington Trust FSB, First
      Commonwealth Bank, Commerce Bank, N.A., Sandy Spring Bank,
      Abington Bank, Hillcrest Bank, Provident Bank and Bank of
      America, N.A.  PNC Bank, National Association acts agent
      to the Corporate Revolver Lenders.

      The Project Construction Lenders consist of PNC Bank
      (Mercantile), Bank of America, N.A., Capmark Bank,
      Guaranty Bank, Commerce Bank (MO), Wilmington Trust FSB,
      Solutions Bank, Hillcrest Bank, Citizens Bank of
      Pennsylvania, Wachovia Bank, National Association, Sandy
      Spring Bank, Chevy Chase Bank FSB, The Bank of Glen
      Burnie, Provident Bank, Abington Bank, Univest National
      Bank & Trust Co., National Penn Bank, Legacy Bank, Key
      Healthcare Finance, Columbia Bank, Chesapeake Bank, Health
      Care Property Investors, Inc., Colonial Bank, Fifth Third
      Bank, and KeyBank National Association.  The agents acting
      on behalf of the Project Construction Lenders are
      Mercantile-Safe Deposit and Trust Company, PNC Bank,
      National Association, Bank of America, N.A., Capmark
      Finance, Inc., and KeyBank National Association.

  (b) reach an agreement with HCP, Inc., HCP ER2, LP, HCP ER3,
      LP, and HCP ER6, LP, one of the Debtors' largest creditor
      constituencies, resolving three adversary proceedings
      commenced by the Debtors against the HCP Entities; and

  (c) establish a framework for resolution of the outstanding
      issues related to the secured parties on the Debtors'
      Dallas project with counsel for Texas A&M University and
      Bank of America, which counsels are awaiting responses
      from their clients.

The agreements with the Corporate Revolver Lenders and the HCP
Entities are subject to final approval by the involved parties
and confirmation of a plan of reorganization.  The Debtors expect
to file a motion seeking approval of the Agreement with the HCP
Entities pursuant to Rule 9019 of the Federal Rules of Bankruptcy
Procedure.

Counsel to the Debtors, Vincent P. Slusher, Esq., at DLA Piper
LLP, in Dallas, Texas, related that the Debtors have negotiated
settlements with about 77% of their unsecured creditor
constituents since entry the January 14 Order, and have resolved
these issues related to each of these constituencies:

  (i) Campus Level Senior Debt;
(ii) Corporate Level Senior Debt;
(iii) Campus Sub Debt - HCP; and
(iv) Campus Sub Debt - Windsor.

Mr. Slusher disclosed that the only remaining objecting parties
preventing the Debtors from moving forward with the plan
solicitation and approval process are:

  (i) the Creditors' Committee;
(ii) Strategic Ashby Ponds Lender LLC and Strategic Concord
      Landholder, LP; and
(iii) MSRESS III Dallas Campus, MSRESS III Denver Campus, LLC,
      MSRESS III Kansas Campus, L.P.

The MSRESS III Lenders and the Strategic Entities are
subordinated, Mr. Slusher elaborated.  Thus, the Debtors estimate
that the Remaining Objectors represent less than 25% of all
unsecured claims and less than 4% of all unsecured non-
subordinated, non-insider, non-deficiency claims against the
Debtors.

Mr. Slusher stated that the Debtors have committed significant
time, energy and resources to reaching a global settlement since
the entry of the January 14 Order.  He related that the Committee
was present throughout the course of the eight-hour negotiations
and had several meetings with the Debtors' counsel.  During those
meetings, however, the Committee never provided an "ask" and
indicated they had no authority to negotiate a settlement, he
said.  As a result, the Debtors refocused their negotiation
efforts on reaching an agreement with key constituencies who were
both willing and able to assist the parties' in reaching a global
settlement, he noted.

"The appointment of a mediator at this stage -- after the Debtors
have already negotiated settlements with about 97% of their key
unsecured creditor constituents -- at the behest of these 'out of
the money' creditors would be a significant setback in these
Chapter 11 cases that would destroy any level of consensus the
parties have achieved," Mr. Slusher stressed.

Moreover, the Debtors believe that the appointment of a mediator
and the accompanying estimated four-month delay could cost their
estates up to $11 million in professional fees, debt service
payments and damages, he pointed out.  The Debtors thus believe
that appointing a mediator is neither necessary nor in the best
interests of their creditors or estates.

Judge Jernigan deferred the continuation of the Status Conference
to January 29, 2010, to further discuss the possibility of global
mediation depending on the progress/results of the global
settlement discussions that will occur among the Debtors and the
creditor constituencies.

                      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 Oct. 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)


ERICKSON RETIREMENT: Wells Fargo Wants No Committee for Warminster
------------------------------------------------------------------
Wells Fargo Bank National Association asks the Court to enter an
order disbanding the Official Committee of Unsecured Creditors in
the Chapter 11 cases of Erickson Retirement Communities LLC
affiliates Warminster Campus, LP, and Warminster Campus, GP, LLC.

Wells Fargo is successor indenture trustee for the $81,945,000
Bucks County Industrial Development Authority Retirement
Community Revenue Bonds Series 2005A, Series 2005B-1, and Series
2005B-2.

William W. Kannel, Esq., at Mintz Levin Cohn Ferris Glovsky and
Popeo, P.C., in Boston, Massachusetts, notes that Warminster's
schedules of assets and liabilities reflect that $77,212 of more
than $375 million of unsecured claims could benefit from a
creditors committee.  These de minimis interests, he argues, are
not sufficient to justify a committee when any distribution of
funds a committee could extract for unsecured creditors through
litigation or otherwise would result in just 0.021% of that
distribution.  As to Warminster GP, the only scheduled
liabilities are guaranty claims held by lenders that are also
active in Warminster GP's Chapter 11 cases.  Thus, no unsecured
claims might benefit from a committee in Warminster GP's Chapter
11 case, he asserts.

Against this backdrop, the only effect the actions of the
Committee in the Warminster Debtors will have is the likely
increase of the cost of administration and a delay of the Chapter
11 process, Mr. Kannel points out.

More importantly, no member of the existing Committee is a
creditor of Warminster LP or Warminster GP and the Committee
cannot possibly be considered to be representing the interests of
the creditors of either Warminster Debtor, Ms. Kannel asserts.
He explains that Section 1102 of the Bankruptcy Code provides
that only a creditor of a debtor may be a member of an unsecured
creditors' committee.  In this light, the Creditors Committee
lacks standing to participate as an official committee in the
Warminster Debtors' Chapter 11 Cases and should be disbanded as
it relates to these debtors, Mr. Kannel maintains.

                      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 Oct. 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)


FITNESS HOLDINGS: Can Access Pacific Western Cash Collateral
------------------------------------------------------------
The Hon. Barry Russell of the U.S. Bankruptcy Court for the
Central District of California approved the stipulation entered by
Fitness Holdings International, Inc. with Pacific Western Bank,
and the Official Committee of Unsecured Creditors, further
extending its use of cash collateral to pay its employees'
compensation.

As reported in the Troubled Company Reporter on January 4, 2010,
the Debtor hired two of its former employees Brandon Sugimoto and
Matthew Losciale as independent contractors to assist with
collecting upon the estate's tax refunds and receivables against
Wells Fargo Financing and to perform certain administrative
functions.

The secured lender and the committee consented to the retention of
the team, and further agreed to the Debtor's use of cash
collateral to pay limited amounts to the Debtor's professionals
for their services.

For general matters, the Debtor agreed to pay the Team, and a
third, part-time person $50,000 for a 6 week period, and to
reimburse their actual expenses up to $2,500 or any higher amount.
For collection matters, the Debtor agreed to pay the team 25% of
the gross proceeds recovered.

The Debtor related that the of cash collateral does not contain
any provision that:

   1) grants cross-collateralization protection to the prepetition
      secured lender;

   2. binds the estate or all parties-in-interest with respect to
      the validity, perfection, or amount of the secured lender's
      prepetition lien or debt or the waiver of claims against the
      secured lender;

   3. waives or limits the estate's rights under Section 506(c)
      of the Bankruptcy Code;

   4. grants to the prepetition secured lender liens on the
      Debtor's claims and causes of action;

   5. deems prepetition secured debt to be postpetition debt or
      that use postpetition loans from a prepetition secured
      creditor to pay or all of that secured creditors prepetition
      debt; and

   6. primes any secured lien.

The stipulation contains provisions for limited professional fee
carve outs for the Debtor's professionals, but not for the
professional retained by the Committee.

                    About Fitness Holdings

Long Beach, California-based Fitness Holdings International, Inc.
dba Busy Body Home Fitness, OMNI Fitness Equipment, and LA Gym
Equipment is a retailer of fitness equipment for home use.  It
operated 111
retail stores.

The company filed for Chapter 11 protection on Oct. 20, 2008
(Bankr. C. D. Calif. Case No. 08-27527).  David S. Kupetz, Esq.,
Marcus Tompkins, Esq., and Tamar Kouyoumjian, Esq., at
SulmeyerKupetz, A Professional Corporation, represent the company
in its restructuring efforts.  Henkie F. Barron, Esq., at Winston
& Strawn LLP, represents the Official Committee of Unsecured
Creditors as counsel.  The Company listed assets of $10 million to
$50 million, and the same range of debts.


FONTAINEBLEAU LV: Icahn Buys Unfinished Resort for $156.1 Mil.
--------------------------------------------------------------
Carl Icahn won court approval to buy the bankrupt and unfinished
Fontainebleau Las Vegas casino resort for $156.1 million at a
hearing held January 27, 2010, Bloomberg News reports.

Icahn Nevada Gaming Acquisition LLC made the only qualified bid
for the 63-story Fontainebleau.  The November offer of
$156.5 million, now reduced by $400,000, set the minimum for an
auction that was canceled when no other qualified bids were
received.

"Anybody out there with a billion dollars in his pockets?" Judge
Cristol asked prior to approving the sale, notes the report.
"Going once, going twice, going three times."  Judge Cristol
banged his gavel and announced, "Sold to Icahn," relates
Bloomberg.

Lien holders in the bankruptcy case had objected to the sale being
free and clear of liens and claims.  However, by the Jan 27
hearing, all of the objections had been removed, according to a
report by The South Florida Business Journal.

Counsel for Fontainebleau, Scott Baena, Esq., at Bilzin Sumberg
Baena Price & Axelrod, LLP, in Miami, Florida, said he wished the
auction would have generated more money.  "Times and circumstances
have changed the value of the project," Mr. Baena said, noting
that he felt this was the best deal they could get under the
circumstances, reports the Florida Journal.

The deal is expected to close sometime next month.

The Las Vegas Sun says that Icahn offered $156 million in
cash and financing for the property, including $105 million in
cash and $51 million in financing, but Fontainebleau bankruptcy
lawyer Scott Baena said during the hearing that the cost of
financing is expected to be less as they move toward closing.

To recall, San Francisco real estate developer Luke Brugnara told
the Las Vegas Review-Journal in an e-mail he has submitted a
$170 million "all cash" offer with the U.S. Bankruptcy Court in
Miami for the Fontainebleau project.  Review-Journal relates Mr.
Brugnara said he would pay up to $200 million for the
Fontainebleau project, and that he is backed financially by a New
York City hedge fund.

Penn National Gaming Inc. in November initially offered
$101.5 million for the project -- $50 million in cash and
$51.5 million in DIP financing.  Penn National raised its offer to
$145 million, but was topped by Carl Icahn.  Penn National
eventually pulled out of the bidding process.  "Penn came to the
conclusion there is not a lot of value to moving forward in the
process," The Wall Street Journal quoted Penn Spokesman Joe
Jaffoni as saying.

Craig Road Development Corporation, in a letter dated December 2,
2009, likewise informed the Court of its interest to acquire 100%
of the "Tier A" casino hotel and resort from Fontainebleau.  An
entity formed by CRDC and certain investors -- Heroes Property
Group, LLC -- will pay $350,000,000 for 100% of the Project's
equity, payable in cash at closing.  The letter, however,
indicated the Sellers would be responsible for retiring any funded
and interest bearing debt, including capital leases, of the
Project.  The Project's stock purchased by Heroes Property Group
will be free and clear of all liens and encumbrances.

Eventually, Carl Icahn emerged as the only qualified bidder for
Fontainebleau Las Vegas after two competing bids were deemed
unqualified, as reported by Jeffrey R. Truitt, the appointed
Chapter 11 Examiner in the Debtors' Chapter 11 cases.

                   About Fontainebleau Las Vegas

Fontainebleau Las Vegas -- http://www.fontainebleau.com/-- is
constructing a luxury resort, Fontainebleu Las Vegas, on the
northern end of the Las Vegas Strip.

Fontainebleau Las Vegas Holdings, LLC, Fontainebleau Las Vegas,
LLC, Fontainebleau Las Vegas Capital Corp. filed for Chapter 11
protection on June 9, 2009 (Bankr. S.D. Fla. Lead Case No.
09-21481).  Judge A. Jay Cristol presides over the Debtors' cases.
Scott L Baena, Esq., at Bilzin Sumberg Baena Price & Axelrod LLP,
represents the Debtors in their restructuring efforts.  The
Debtors' Financial Advisor are Moelis & Company LLC and Citadel
Derivatives Group LLC.  The Debtors' Special Litigation Counsel is
David M. Friedman, Esq., at Kasowitz, Benson, Torres & Friedman
LLP and the Debtors' Special Counsel is Jack J. Kessler, Esq., and
Alan Rubin, Esq., at Buchanan Ingersoll & Rooney PC.  The Debtors'
Claims Agent is Kurtzman Carson Consulting LLC.  Attorneys at
Genovese Joblove & Battista, P.A., and Fox Rothschild, LLP,
represent the Official Committee of Unsecured Creditors.

As of June 9, 2009, Fontainebleau Las Vegas LLC listed more than
$1 billion in debt and a similar amount in assets, while each of
Fontainebleau Las Vegas Capital Corp. and Fontainebleau Las Vegas
Holdings, LLC, listed less than $50,000 in assets and more than
$1 billion in debts.

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


FONTAINEBLEAU LV: Lease Assumption Notice fore Icahn Sale
---------------------------------------------------------
Fontainebleau Las Vegas Holdings LLC and its units filed with the
Court a Notice of Icahn Nevada Gaming Acquisition LLC's (i) intent
to have assumed and assigned certain of the Debtors' executory
contracts and unexpired leases and (ii) acceptable cure costs
related to the assumption and assignment -- the "Confirmation
Notice".

The Confirmation Notice contains the final schedule of Confirmed
Agreements, and includes cure cost information relating to the
Confirmed Agreements.

A full-text copy of the Confirmation Notice is available for free
at http://bankrupt.com/misc/FB_IcahnConfirmationNO.pdf

Prior to the filing of the Confirmation Notice, the Debtors
informed the Court that they amended the list of executory
contracts and unexpired leases that they may assume and assign to
Nevada Gaming Acquisition LLC, pursuant to Section 365 of the
Bankruptcy Code -- the Assignment Notice.  The list was amended to
correct the contracting party entity name listed in the third
contract on page three of Exhibit A of the Assignment Notice.

                        Objections

These entities filed oppositions against the Debtors' notice of
intent to assume and assign certain executory contracts and
unexpired leases and cure costs, and to Icahn's notice of intent
to pay cure costs of $0:

(a) Southwest Gas Corporation,
(b) JBA Consulting Engineers, Inc.,
(c) Lochsa Engineering,
(d) Bergman, Walls & Associates, Ltd.,
(e) TMCx Nevada, LLC,
(f) YWS Architects, Ltd.,
(g) RLI Insurance Company, and
(h) Aztech Inspections & Testing, LLC

Southwest Gas is a party with the Debtors to an Incremental
Natural Gas Facilities Agreement.  Southwest Gas asserts that if
the Agreement is rejected, it will draw on the letter of credit to
pay certain costs which are reimbursable under the Agreement.
According to Southwest Gas, if the Agreement is assumed, Icahn
must pay the costs to provide a replacement letter of credit in
accordance with the Agreement as a "cure" and as adequate
assurance of future performance. The replacement letter of credit
must be in the full amount required under the Agreement which is
$754,672.

YWS Architects, Ltd., TMCx Nevada, LLC, Bergman, Walls &
Associates, Ltd., Lochsa Engineering, and JBA Consulting
Engineers, Inc. say the cure costs acceptable to Icahn fails to
cure the default under their individual agreements with the
Debtors, and fails to provide adequate assurance that the default
will be promptly cured.  JBA Consulting adds that the Debtors have
failed to provide a vehicle to ensure adequate assurance of prompt
cure.

Aztech Inspections & Testing, LLC objects to the proposed cure
amount of $0, and demands payment of $666,977 to cure the
arrearages as a condition to the assumption of the Aztech
Agreement by Icahn.

RLI Insurance Company asserts that the notice and opportunity to
object as provided in the Notices is woefully inadequate and
prejudices RLI's rights to adequately and appropriately respond.
RLI was not listed as a creditor or party-in-interest in the
Debtors' Chapter 11 cases and was not listed as having an
executory contract with the Debtors in their Schedules of Assets
and Liabilities.  RLI says it received the Notices on January 22,
2010, and January 25, 2010, and promptly undertook to employ
counsel, however, the Notices did not afford adequate time to
respond prior to the deadline deadline.  Accordingly, RLI asks the
Court to extend the Objection Deadline and authorize the filing of
its Objection as falling within the Objection Deadline to allow
the issues RLI has identified to be determined on the merits
rather than through an implicit default.

                   About Fontainebleau Las Vegas

Fontainebleau Las Vegas -- http://www.fontainebleau.com/-- is
constructing a luxury resort, Fontainebleu Las Vegas, on the
northern end of the Las Vegas Strip.

Fontainebleau Las Vegas Holdings, LLC, Fontainebleau Las Vegas,
LLC, Fontainebleau Las Vegas Capital Corp. filed for Chapter 11
protection on June 9, 2009 (Bankr. S.D. Fla. Lead Case No.
09-21481).  Judge A. Jay Cristol presides over the Debtors' cases.
Scott L Baena, Esq., at Bilzin Sumberg Baena Price & Axelrod LLP,
represents the Debtors in their restructuring efforts.  The
Debtors' Financial Advisor are Moelis & Company LLC and Citadel
Derivatives Group LLC.  The Debtors' Special Litigation Counsel is
David M. Friedman, Esq., at Kasowitz, Benson, Torres & Friedman
LLP and the Debtors' Special Counsel is Jack J. Kessler, Esq., and
Alan Rubin, Esq., at Buchanan Ingersoll & Rooney PC.  The Debtors'
Claims Agent is Kurtzman Carson Consulting LLC.  Attorneys at
Genovese Joblove & Battista, P.A., and Fox Rothschild, LLP,
represent the Official Committee of Unsecured Creditors.

As of June 9, 2009, Fontainebleau Las Vegas LLC listed more than
$1 billion in debt and a similar amount in assets, while each of
Fontainebleau Las Vegas Capital Corp. and Fontainebleau Las Vegas
Holdings, LLC, listed less than $50,000 in assets and more than
$1 billion in debts.

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


FONTAINEBLEAU LV: Stipulation Resolving Sec. 2.2(B) Election
------------------------------------------------------------
Pursuant to an asset purchase agreement, Las Vegas Retail Parent,
LLC, Fontainebleau Las Vegas Retail Mezzanine, LLC, and
Fontainebleau Las Vegas Retail, LLC, -- the Retail Sellers or
Debtors -- have agreed to sell, among other things, a Retail Real
Property and all rights under certain Assumed Contracts and
Assumed Leases, including the Retail Master Lease, the Retail
Leaseback and the COREA.

For the avoidance of confusion, the Retail Real Property is
defined in Section 1.2 of the Asset Purchase Agreement as "all of
the property rights of each Retail Seller in any portion of the
Owned Real Property, including (a) any rights of the Retail Seller
as lessee under the Retail Master Lease in an air rights parcel of
approximately 286,500 square feet located within a portion of the
Owned Real Property, and any right of the Retail Seller to convert
the leasehold interest into fee simple title, and (b) all
easements granted to the Retail Seller under the COREA."

Pursuant to Section 2.2(b) of the Asset Purchase Agreement, the
Debtors and the Retail Debtors -- the Sellers -- may, in their
sole discretion, at any time on or prior to the date that is five
Business Days before the Closing Date, elect not to sell the
Retail Real Property and treat the Specified Retail Agreements as
Eliminated Agreements that would not be purchased by the Icahn
Nevada Gaming Acquisition LLC.

The Sellers; Lehman Brothers Holdings Inc., in its capacity as
lender and as the agent for the Retail Lenders; and The Union
Labor Life Insurance Company, National City Bank, and Sumitomo
Mitsui Banking Corporation -- the Retail Lenders -- consent to the
asset sale contemplated pursuant to the Asset Purchase Agreement,
subject to the terms of a Stipulation which was approved by the
Court.

As agreed, the Sellers agree that they will not, under any
circumstance, at any point on, prior to, or after the Closing,
make the Section 2.2(b) Election, and pursuant to the Asset
Purchase Agreement and the Bankruptcy Code, at the Closing, the
Retail Sellers will sell to Icahn, free and clear of any
Encumbrances of any kind, other than Permitted Encumbrances,
substantially all of the assets owned by the Retail Sellers,
including these assets owned by the Retail Sellers:

  (a) the Retail Real Property,
  (b) the Retail Master Lease,
  (c) the Retail Leaseback, and
  (d) any interests of the Retail Sellers in the COREA.

The Sellers agree that any Specified Retail Agreement will not,
under any circumstance, at any point on, prior to, or after the
Closing, be treated as an Eliminated Agreement under the Asset
Purchase Agreement and that no Seller will seek to reject, or
support the rejection of any agreement that is currently
designated as a Specified Retail Agreement.

The Sellers agree that they will not amend the Asset Purchase
Agreement in any manner or enter into any agreement, agreed order,
or stipulation with any other party that would contradict or void
the agreements contained in the Stipulation.

On the Closing, the lien or liens of the Agent and the Retail
Lenders will attach to the proceeds of the sale received by the
Sellers pursuant to the Asset Purchase Agreement; provided,
however, nothing in the Stipulation is intended to, or will
prejudice or affect, or constitute a finding or determination with
respect to the position of any party, including the Retail
Lenders, regarding (a) the extent of the interests of any party-
in-interest in the Sale Proceeds, (b) the proper allocation of the
Sale Proceeds between the Retail Debtors and the Resort Debtors,
(c) the value of any assets or any interest in any assets sold by
the Retail Sellers or the Resort Sellers pursuant to the Asset
Purchase Agreement or (d) the lien priority of any party-in-
interest, including the Retail Lenders, in or with respect to the
Sale Proceeds, all of which are expressly reserved for future
determination by the Bankruptcy Court.

                   About Fontainebleau Las Vegas

Fontainebleau Las Vegas -- http://www.fontainebleau.com/-- is
constructing a luxury resort, Fontainebleu Las Vegas, on the
northern end of the Las Vegas Strip.

Fontainebleau Las Vegas Holdings, LLC, Fontainebleau Las Vegas,
LLC, Fontainebleau Las Vegas Capital Corp. filed for Chapter 11
protection on June 9, 2009 (Bankr. S.D. Fla. Lead Case No.
09-21481).  Judge A. Jay Cristol presides over the Debtors' cases.
Scott L Baena, Esq., at Bilzin Sumberg Baena Price & Axelrod LLP,
represents the Debtors in their restructuring efforts.  The
Debtors' Financial Advisor are Moelis & Company LLC and Citadel
Derivatives Group LLC.  The Debtors' Special Litigation Counsel is
David M. Friedman, Esq., at Kasowitz, Benson, Torres & Friedman
LLP and the Debtors' Special Counsel is Jack J. Kessler, Esq., and
Alan Rubin, Esq., at Buchanan Ingersoll & Rooney PC.  The Debtors'
Claims Agent is Kurtzman Carson Consulting LLC.  Attorneys at
Genovese Joblove & Battista, P.A., and Fox Rothschild, LLP,
represent the Official Committee of Unsecured Creditors.

As of June 9, 2009, Fontainebleau Las Vegas LLC listed more than
$1 billion in debt and a similar amount in assets, while each of
Fontainebleau Las Vegas Capital Corp. and Fontainebleau Las Vegas
Holdings, LLC, listed less than $50,000 in assets and more than
$1 billion in debts.

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


FORD MOTOR: Resumes Vehicle Production in China
-----------------------------------------------
China Daily reports that a joint venture partner of Ford Motor Co.
resumed making buses in China after determining that the gas pedal
assembly doesn't have the same problem that forced a recall of
millions of Toyota vehicles.

The Wall Street Journal's Matthew Dolan has reported that Ford
Motor has stopped production of a full-size commercial vehicle in
China after discovering that the gas pedal used came from the
supplier involved in the recall at Toyota Motor Co.  The Journal
reported that Ford spokesman Said Deep indicated the production
halt affects the diesel version of Ford's full-size Transit
Classic commercial vehicle that Ford makes in China with one of
its joint-venture partners, Jiangling Motors Corp.

The Journal noted Ford said that so far there have been no reports
in China of Ford drivers experiencing the same type of
uncontrolled acceleration problems that prompted Toyota to issue a
massive recall and halt sales of most of its popular models in the
U.S.

As widely reported, Toyota said it is suspending the U.S. sale and
production of eight models involved in an earlier recall.  Those
models account for more than half its U.S. deliveries and include
top-selling Camry and Corolla cars.

                             About Ford Motor

Headquartered in Dearborn, Michigan, Ford Motor Co. (NYSE: F) --
http://www.ford.com/-- manufactures or distributes automobiles
across six continents.  With about 200,000 employees and about 90
plants worldwide, the company's automotive brands include Ford,
Lincoln, Mercury and Volvo.  The company provides financial
services through Ford Motor Credit Company.

At Sept. 30, 2009, the Company had US$203.106 billion in total
assets against US$210.376 billion in total liabilities.

On March 4, 2009, Ford deferred future interest payments on its
6.50% Junior Subordinated Convertible Debentures due January 15,
2032, beginning with the April 15, 2009 quarterly interest
payment.

As reported by the Troubled Company Reporter on Nov. 4, 2009,
Moody's Investors Service upgraded the senior unsecured rating of
Ford Motor Credit Company LLC to B3 from Caa1.  This follows
Moody's upgrade of Ford Motor Company's corporate family rating to
B3 from Caa1, with a stable outlook.  Ford Credit's long-term
ratings remain on review for further possible upgrade.

On Nov. 3, 2009, S&P raised the corporate credit ratings on Ford
Motor Co. and Ford Motor Credit Co. LLC to 'B-' from 'CCC+'.  Ford
Motor Co. carries a long-term issuer default rating of 'CCC', with
a positive outlook, from Fitch Ratings.


FRANK JAMES TSIKITAS: Updated Case Summary & Unsec. Creditors
-------------------------------------------------------------
Joint Debtors: Frank James Tsikitas
               Georgia Tsikitas
               10645 E. Acoma Drive
               Scottsdale, AZ 85255

Bankruptcy Case No.: 10-02180

Chapter 11 Petition Date: January 28, 2010

Court: United States Bankruptcy Court
       District of Arizona (Phoenix)

Judge: Redfield T. Baum Sr.

Debtors' Counsel: Randy Nussbaum, Esq.
                  Nussbaum & Gillis, P.C.
                  14500 N. Northsight Blvd. - #116
                  Scottsdale, AZ 85260
                  Tel: (480) 609-0011
                  Fax: (480) 609-0016
                  Email: rnussbaum@nussbaumgillis.com

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

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

A list of the Company's 20 largest unsecured creditors is
available for free at:

             http://bankrupt.com/misc/azb10-02180.pdf

The petition was signed by the Joint Debtors.


FREESCALE SEMICONDUCTOR: S&P Affirms 'B-' Corporate Credit Rating
-----------------------------------------------------------------
Standard & Poor's Ratings Services said it revised its outlook on
Austin, Texas-based Freescale Semiconductor Inc. to stable from
negative.  S&P also affirmed the 'B-' corporate credit rating and
all issue ratings on the company.

"While leverage remains very high, the company has achieved
positive free cash flow generation in the quarter just ended,"
said Standard & Poor's credit analyst Lucy Patricola, "and S&P
believes Freescale will continue to generate modest free cash flow
in 2010, allowing it to preserve liquidity."  Further, the absence
of maintenance covenants and debt maturities in the near term
provide an offset to high leverage.


GENERAL GROWTH: Announces IPO of Brazilian Joint Venture
--------------------------------------------------------
General Growth Properties, Inc. on February 2 announced Aliansce
Shopping Centers S.A. has completed an initial public offering of
Aliansce's common shares on the Brazilian Stock Exchange, or
BM&FBovespa.  GGP did not sell any of its Aliansce shares in the
offering and now has approximately a 31.4% ownership interest in
Aliansce, which develops, owns and manages shopping centers in
Brazil.

The initial public offering involved 65,000,000 of Aliansce's
common shares, with each share priced at R$9.00 (equivalent to
approximately US$4.86).  Aliansce sold 50,000,000 shares in the
offering and selling shareholders other than GGP sold 15,000,000
shares.

The securities were not registered under the U.S. Securities Act
of 1933, as amended, or any state securities laws, and unless so
registered, may not be offered or sold in the United States except
pursuant to an exemption from, or in a transaction not subject to,
the registration requirements of the Securities Act and applicable
state securities laws.

                  About General Growth Properties

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

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

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


GENMAR HOLDINGS: Closes Sale of Remaining Boating-Related Assets
----------------------------------------------------------------
Genmar Holdings, Inc., on Tuesday said it closed on the sale of
its remaining boating-related assets including Ranger, Stratos,
Champion, Wellcraft, Four Winns, Larson, and Glastron, as well as
a number of manufacturing facilities and certain other non-core
assets.  Platinum Equity of Beverly Hills, California acquired the
assets following an auction process conducted by Houlihan, Lokey,
Howard and Zukin Capital, Inc., pursuant to Section 363 of the
U.S. Bankruptcy Code.

The Troubled Company Reporter on January 19, 2010, said Genmar
received formal authorization from the Bankruptcy Court to sell
the assets.  Genmar Holdings disclosed that all of its assets
have been sold in accordance with an auction process.  The
highest bidders for the assets were: (1) Platinum Equity's
acquisition of essentially all of the assets for $70 million;
(2) J&D Acquisitions, LLC's acquisition of Carver/Marquis for
$6.05 million; and (3) MCBC Hydra Boats, LLC's acquisition of
Hydra-Sport for $1 million.

Genmar previously completed the sales of Genmar Yacht Group to
J&D Acquisitions, LLC, and its Hydra-Sports brand to MCBC Hydra
Boats, LLC.  "Completing the asset sales quickly was critical to
the buyers in preserving the value of the brands they acquired.
They can now refocus the brands on their future rather than being
mired down in the bankruptcy process," said Mark Sheffert,
Chairman and CEO of Manchester Companies, Inc., and Chief
Restructuring Officer of Genmar.

                   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.
Houlihan Lokey represented Genmar as its financial advisor.
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.


GHOST TOWN: Plan Confirmation Hearing Scheduled for March 2
-----------------------------------------------------------
Ghost Town Partners, LLC, received approval from the U.S.
Bankruptcy Court for the Western District of North Carolina of the
adequacy of its disclosure statement for its proposed Plan of
Reorganization.  The Bankruptcy Court approval of the Debtor's
disclosure statement allows the Debtors to commence the
solicitation of votes for confirmation of its Plan.

Plan materials and ballots was scheduled for mailing on
February 1, 2010.  The deadline for returning completed ballots
is February 23, 2010.  Objections, if any, to confirmation of
the Plan are due on February 23, 2010.  A hearing to consider
confirmation of the Plan is scheduled for March 2, 2010, at
10:00 a.m. at the U.S. Courthouse, Main Courtroom, First Floor,
100 Otis Street, Asheville, North Carolina.

As reported on the Troubled Company Reporter on October 28, 2009,
according to the Disclosure Statement, the Plan provides for the
distribution to creditors of the Debtors' assets and revenue from
ongoing operations as a going concern, including all proceeds from
normal park operations, any additional third party revenue through
joint ventures or strategic alliances well as advertising revenue.
Additionally, although unable to predict outcome of any recovery
of company assets both monetary and nonmonetary arising from
potential claims or causes of action pending, any and all realized
recovery will be to the further benefit of the plan participants
and park operations as a whole.

The Debtor proposes to pay administrative claims, priority tax
claims and other priority claims and secured claims in full or
otherwise satisfied appropriately.

A full-text copy of the Company's Disclosure Statement is
available for free at:

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

A full-text copy of the Company's Chapter 11 Plan is available for
free at:

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

Based in Waynesville, North Carolina, Ghost Town Partners, LLC,
operates an amusement park.  The Debtor filed for Chapter 11
protection on March 11, 2009 (Bankr. W. D. N.C. Case No. 09-
10271).  David G. Gray, Esq., at Westall, Gray, Connolly & Davis,
P.A., and William E. Cannon, Jr., at Brown, Ward & Haynes P.A.,
represent the Debtor in its restructuring efforts.  In its
bankruptcy petition, the Debtor listed total assets of $13,035,300
and total debts of $12,305,672.


GLEN URE HUNSAKER: Voluntary Chapter 11 Case Summary
----------------------------------------------------
Joint Debtors: Glen Ure Hunsaker
               Kay M. Hunsaker
               103 Clay Park Drive
               Salt Lake City, UT 84107

Bankruptcy Case No.: 10-20902

Chapter 11 Petition Date: January 28, 2010

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

Debtors' Counsel: Andres Diaz, Esq.
                  1 On 1 Legal Services
                  307 West 200 South, Suite 2004
                  Salt Lake City, UT 84101
                  Tel: (801) 596-1661
                  Fax: (801) 359-6803
                  Email: courtmail@adexpresslaw.com

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

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

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

The petition was signed by the Joint Debtors.


GREEKTOWN CASINO: Terminates Isle of Capri Consulting Agreement
---------------------------------------------------------------
Isle of Capri Casinos, Inc., on Tuesday said it has, together with
the management board of Greektown Casino, LLC, mutually agreed to
terminate the proposed agreement under which Isle of Capri would
provide transitional marketing and operational consulting services
to Greektown Hotel-Casino in Detroit, Michigan, through the
property's emergence from its current Chapter 11 reorganization
process.

Isle of Capri made the announcement following the confirmation on
January 22, 2010, of a plan of reorganization to exit Greektown
Casino-Hotel from bankruptcy.  Upon exiting from Chapter 11
reorganization, the property will be under new ownership and
management.

Isle of Capri said, "In light of the recent confirmation of the
plan of reorganization and Greektown's expected exit from
bankruptcy in the coming months, it became clear to our company
and Greektown that the short-term transitional consulting services
that we were to provide may not represent the most expeditious
course of action for Isle of Capri or Greektown Casino.  Moving
forward, Isle of Capri remains committed to its belief that it can
have a positive impact on existing properties and its own balance
sheet by utilizing the extensive experience of its management team
through management and consulting contracts in gaming markets
across the United States."

                        About Isle of Capri

Isle of Capri Casinos, Inc. -- http://www.islecorp.com/-- 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.

                     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)


GROTON REALTY: Case Summary & 12 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Groton Realty Holdings, Inc.
        134 Main Street
        Groton, MA 01450

Bankruptcy Case No.: 10-40333

Chapter 11 Petition Date: January 28, 2010

Court: United States Bankruptcy Court
       District of Massachusetts (Worcester)

Judge: Joel B. Rosenthal

Debtor's Counsel: Timothy M. Mauser, Esq.
                  Law Office of Timothy Mauser, Esq.
                  Suite 240, One Center Plaza
                  Boston, MA 02114
                  Tel: (617) 338-9080
                  Fax: (617) 275-8990
                  Email: tmauser@mauserlaw.com

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

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

According to the schedules, the Company has assets of $1,884,988,
and total debts of $1,324,434.

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

             http://bankrupt.com/misc/mab10-40333.pdf

The petition was signed by James W. Ryan, president of the
Company.


HAMILTON BROTHERS: Case Summary & 21 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Hamilton Brothers Builders, LLC
        11314 Halcyon Loop
        Daphne, AL 36526

Bankruptcy Case No.: 10-00266

Chapter 11 Petition Date: January 25, 2010

Court: United States Bankruptcy Court
       Southern District of Alabama (Mobile)

Debtor's Counsel: Michael B. Smith, Esq.
                  PO Box 40127
                  Mobile, AL 36640
                  Tel: (251) 441-8077
                  Email: smi067@aol.com

Estimated Assets: $1,000,001 to $100,000,000

Estimated Debts: $1,000,001 to $100,000,000

According to the schedules, the Company has assets of $1,274,315,
and total debts of $1,217,699.

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

             http://bankrupt.com/misc/alsb10-00266.pdf

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


HAND IN HAND: Case Summary & 4 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Hand In Hand Academy, Inc.
        19215 Livingston Ave
        Lutz, FL 33549

Bankruptcy Case No.: 10-01849

Chapter 11 Petition Date: January 28, 2010

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

Debtor's Counsel: Marshall G. Reissman, Esq.
                  Law Offices of Marshall G. Reissman
                  5150 Central Ave
                  St. Petersburg, FL 33707
                  Tel: (727) 322-1999
                  Fax: (727) 327-7999
                  Email: marshall@reissmanlaw.com

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

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

According to the schedules, the Company has assets of $1,786,050,
and total debts of $2,476,332.

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

            http://bankrupt.com/misc/flmb10-01849.pdf

The petition was signed by Wendy Alexander, president of the
Company.


HARBORWALK LP: Updated Case Summary & Creditors List
----------------------------------------------------
Debtor: Harborwalk, LP
        1445 Harborwalk Blvd
        Hitchcock, TX 77563

Bankruptcy Case No.: 10-80043

Debtor-affiliates filing separate Chapter 11 petition:

        Entity                                     Case No.
        ------                                     --------
Harborwalk Sales Corporation                       10-_____
Harborwalk Marina Operating Company, Ltd.          10-80044

About the Business: Harbor Walk LP is the developer of a 380-lot
master planned community on West Galveston Bay in Texas.  The
project was begun in 2002, and 275 lots were sold.  The property
was damaged by Hurricane Ike in September 2008.  The project
includes a yacht club and a 150-slip marina.

Chapter 11 Petition Date: January 30, 2010

Court: United States Bankruptcy Court
       Southern District of Texas (Galveston)

Judge: Letitia Z. Paul

Debtor's Counsel: Marcy E. Kurtz, Esq.
                  Bracewell & Giuliani LLP
                  711 Louisiana, Ste 2300
                  Houston, TX 77002
                  Tel: (713) 221-1206
                  Fax: (713) 221-2125
                  Email: marcy.kurtz@bgllp.com

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

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

The petition was signed by Lynn B. Watkins.

Debtor's List of 20 Largest Unsecured Creditors:

  Entity                   Nature of Claim        Claim Amount
  ------                   ---------------        ------------
Bill Ring                                         $501,835
706 West Viejo
Friendswood, TX 77546

Harborwalk Yacht Club                             $455,000
Member Deposits


Lucas Construction                                $238,390

Harborwalk Property Owners                        $128,841
Association

WT Byler                                          $76,974

Watkins Real Estate                               $70,455
Development LLC

Interdirect                                       $21,371

Fowler Rodriguez                                  $14,930

CBS Outdoor                                       $12,850

Shirley & Sons                                    $10,000

Brite Lights of Houston                           $7,347

Lynn's Landscaping                                $5,386

KEM Texas                                         $5,100

RTM Media                                         $4,800

Geosurv                                           $4,070

PB&J Pavement Marking                             $3,761

Robert Jones                                      $3,524

Ben E. Keith                                      $3,494

Office Depot                                      $2,995

Edward Don                                        $2,110

HDR Shiner Mosely                                 $2,016

City of Hitchcock                                 $2,001

LPH Enterprises                                   $1,808

Martin Preferred Foods                            $1,513

New Leaf Publishing                               $1,500

Centerpoint                                       $1,462

Fulton Seafood                                    $1,428

Shelmark Engineering                              $1,315

Mike James                                        $1,270

Third Coast Produce                               $1,171
                                              ----------
                                        TOTAL:    $1,587,253


HARBORWALK LP: Taps Bracewell & Giuliani as Bankruptcy Counsel
--------------------------------------------------------------
Harborwalk, LP, have sought authorization from the U.S. Bankruptcy
Court for the Southern District of Texas to employ Bracewell &
Giuliani LLP as bankruptcy counsel.

Bracewell will, among other things:

     (a) advise the Debtors with respect to their rights, duties
         and powers in the Chapter 11 cases;

     (b) assist the Debtors in analyzing the claims of creditors
         and in negotiating with the creditors;

     (c) represent the Debtors in all matters involving disputes
         with creditors or other parties in interest;

     (d) advise and represent the Debtors in all matters related
         to their efforts to reorganize their business affairs;

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

         Dan Witschey, Partner           $720
         William A. Wood, Partner        $675
         Marcy E. Kurtz, Partner         $650
         Heather Brown, Partner          $615
         Bill King, Counsel              $500
         Jason G. Cohen, Associate       $390
         Chris S. Tillmanns, Associate   $325
         Danielle Kruger, Associate      $325
         Laura L. Venta, Associate       $275
         Gale W. Gattis, Paralegal       $210

Marcy E. Kurtz, a partner with Bracewell, assures the Court that
the firm is "disinterested" as that term is defined in Section
101(14) of the Bankruptcy Code.

Hitchcock, Texas-based Harborwalk, LP, Harborwalk Marina Operating
Company, Ltd., and Harborwalk Sales Corporation filed for Chapter
11 bankruptcy protection on January 25, 2010 (Bankr. S.D. Tex.
Case No. 10-80043).  Marcy E. Kurtz, Esq., at Bracewell & Giuliani
LLP, assists Harborwalk 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 in its petition.


HARBORWALK LP: Wants Schedules Filing Deadline Moved to March 2
---------------------------------------------------------------
Harborwalk, LP, et al., have asked the U.S. Bankruptcy Court for
the Southern District of Texas to extend by an additional 21 days,
to March 2, 2010, the deadline to file schedules of assets and
liabilities, statements of financial affairs, and schedules of
executory contracts and unexpired leases.

The Debtors are currently required to file their schedules and
statements by February 9.  The Debtors say that the size of the
Chapter 11 cases, the number of Debtors and the volume of material
that must be compiled and reviewed by the Debtors' very limited
staff to complete the schedules and statements for each of the
Debtors during the hectic early days of these Chapter 11 cases
provide ample cause justifying, if not compelling, the requested
extension.  According to the Debtors, they have a total of 10
employees and of these 10 employees, only the bookkeeper is able
to assist the Debtors' management in preparing the schedules and
statements.  The Debtors' management has been devoting significant
time to (i) acquiring post-petition financing for the Debtors; and
(ii) increasing operations to normal levels with the assistance of
post-petition financing, thus further minimizing the time
available to complete the schedules and statements.

Hitchcock, Texas-based Harborwalk, LP, Harborwalk Marina Operating
Company, Ltd., and Harborwalk Sales Corporation filed for Chapter
11 bankruptcy protection on January 25, 2010 (Bankr. S.D. Tex.
Case No. 10-80043).  Marcy E. Kurtz, Esq., at Bracewell & Giuliani
LLP, assists Harborwalk 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 in its petition.


HCA INC: Expects to Report $216MM Net Income for Fourth Quarter
---------------------------------------------------------------
HCA Inc. said it expects revenues for the fourth quarter of 2009
will be approximately $7.605 billion, a 4.7% increase from $7.265
billion in the fourth quarter of 2008.  Net income attributable to
HCA Inc. for the fourth quarter of 2009 is anticipated to be
approximately $216 million, compared to $276 million in the fourth
quarter of 2008.  Adjusted EBITDA for the fourth quarter of 2009
is expected to total approximately $1.343 billion compared to
$1.237 billion in the fourth quarter of 2008.

For the fourth quarter of 2009, salaries and benefits, supply
expense and other operating expenses, are expected to approximate
$5.633 billion, compared to $5.192 billion in the fourth quarter
of 2008.  Provision for doubtful accounts in the fourth quarter of
2009 is expected to approximate $693 million, or 9.1 percent of
revenues, compared to $889 million, or 12.2 percent of revenues,
in the fourth quarter of 2008.  The reduction in the provision for
doubtful accounts was primarily the result of an increase in
charity care and uninsured discounts which are expected to total
$1.499 billion in the fourth quarter of 2009 compared to
$1.007 billion in the fourth quarter of 2008.  Same facility
uninsured admissions increased 0.2 percent in the fourth quarter
and comprised 6.4 percent of total admissions compared to 6.5
percent in the fourth quarter of 2008.

Same facility admissions are expected to reflect an increase of
1.2 percent while same facility equivalent admissions are expected
to increase by 2.6 percent for the fourth quarter of 2009 compared
to the fourth quarter of 2008.

For the fiscal year 2009, revenues are expected to approximate
$30.052 billion, compared to $28.374 billion in 2008.  Net income
attributable to HCA Inc. is expected to approximate $1.054 billion
for the year ended December 31, 2009, compared to $673 million for
2008.  Adjusted EBITDA is expected to approximate $5.472 billion
compared to $4.574 billion for 2008.

Also, on January 27, 2010, the Board of HCA Inc. declared a
distribution to the Company's stockholders and vested option
holders of record on February 1, 2010, to be paid on February 5,
2010.  The aggregate amount of the distribution is approximately
$1.75 billion.  The distribution will be funded through funds
available under the Company's existing asset-based and general
revolving credit facilities and cash on hand.

The Company expects long-term debt at December 31, 2009 to
approximate $25.670 billion, a decrease of $2.738 billion from
December 31, 2006, following the completion of the Company's
recapitalization in November 2006.  The Company's estimated
leverage ratio at December 31, 2009, as measured by the ratio of
long-term debt to adjusted EBITDA, is 4.7x.  On a pro forma basis,
to reflect the $1.75 billion distribution, the Company's estimated
leverage ratio would be 5.0x.  In comparison, the Company's
leverage ratio was 6.4x as of December 31, 2006.

HCA plans to announce its complete fourth quarter and fiscal year
2009 results on February 18, 2010.

                             About HCA

Headquartered in Nashville, Tennessee, HCA is the nation's largest
acute care hospital company with 155 hospitals and 97 freestanding
surgery centers owned and operated by its subsidiaries and another
eight hospitals and eight freestanding surgery centers that are
accounted for using the equity method as of September 30, 2009.
For the twelve months ended September 30, 2009, the company
recognized revenue in excess of $29 billion.

                            *    *    *

According to the Troubled Company Reporter on Feb. 2, 2010,
Moody's Investors Service commented that HCA Inc.'s planned use of
its ABL and cash flow revolvers to fund the payment of a dividend
to shareholders has no immediate impact on the ratings of the
Company, including the B2 Corporate Family and Probability of
Default Ratings.


HCA INC: Fitch Affirms Issuer Default Rating at 'B'
---------------------------------------------------
Fitch Ratings has affirmed HCA Inc.'s credit ratings:

  -- Issuer Default Rating at 'B';
  -- Secured Bank Credit Facility at 'BB/RR1';
  -- First Lien Notes at 'BB/RR1';
  -- Second Lien Notes at 'B+/RR3';
  -- Senior Unsecured Notes at 'CCC/RR6'.

The Rating Outlook is Stable.  Total rated debt at Sept. 30, 2009,
was approximately $26.9 billion.

The rating action follows HCA's announced special dividend of
$1.75 billion payable to shareholders.  Fitch expects the special
dividend to be funded by cash on hand and borrowings from the
company's $2 billion senior secured asset-based revolving credit
facility and $2 billion senior secured revolving credit facility,
both maturing in November 2012.  Despite the expected rise in
total debt and compression of liquidity from credit facilities
borrowings, Fitch believes HCA's credit profile will remain
consistent with the current rating category.  However, the
dividend leads Fitch to expect that HCA will likely continue to
use much of its excess liquidity to return cash to shareholders,
which will limit its flexibility within the 'B' ratings category.

HCA's financial profile has benefited from debt reduction in
excess of $1 billion throughout the first nine months of 2009 as
well as strengthening EBITDA leading to a moderation of gross debt
leverage to 4.8 times for the latest 12-month period ending
Sept. 30, 2009, from 5.9x at the end of 2008.  HCA recently noted
an expectation of $25.67 billion of total debt at the end of 2009.

HCA's ratings reflect the company's significant leverage and
challenging industry environment, partially offset by improvements
in the company's operations.  In addition, HCA's operations have
continued to improve as a result of cost management efforts,
strong same-facility admissions growth (including its eighth
consecutive quarter of positive same-facility adjusted admissions
growth reported for the third quarter of 2009), and new emergency
room coding efforts.  Fitch, however, expects the recent cost
benefit to the hospital industry stemming from improved labor
costs will likely moderate, once unemployment improves.

Key rating concerns include the large amount of debt maturing in
the next several years, continued shareholder-friendly
transactions and an uncertain industry environment.  Industry
uncertainty is being driven by stubbornly high unemployment
leading to prolonged pressure on bad debt expense as well as the
potential for health care reform, which could have an (positive or
negative) impact on the sector.  Finally, Fitch notes that an exit
by HCA's private equity sponsors through, for example, an initial
public offering could have an impact on its credit profile.


HEIDTMAN MINING: Wants to Sell Assets to Coal America for $15MM
---------------------------------------------------------------
Heidtman Mining, LLC, asks the U.S. Bankruptcy Court for the
Western District of Arkansas to approve the sale of assets free
and clear of all liens, claims and encumbrances pursuant to
Section 363 of the Bankruptcy Code.

With the help of Resultant Management Group, L.L.C., and its
affiliate, the John T. Boyd Company, as marketing consultants, the
Debtor reached an agreement with Coal America Corporation, a
Nevada corporation, for the purchase of substantially all of the
Debtor's mining assets.

Pursuant to the agreement:

   -- at closing, Coal America will pay to the estate these:

      a. $15,000,000; and

      b. certain costs and expenses incurred by the Debtor prior
         to closing.

   -- in addition, at closing Coal America will issue to the
      Debtor's estate 5 million shares of preferred stock at $5
      par value per share (face value $25,000,000).  These shares
      will pay a 6% annual dividend to the Debtor's estate
      ($1,500,000 annually).

   -- Coal America will purchase all of the Debtor's assets and
      will lease on a 50 year term (subject to another 50 year
      extension) the Debtor's coal interests.  It will pay
      certain royalties to be defined in the asset purchase
      agreement.

   -- Coal America will assume the Debtor's executory contracts
      and leases, and will pay on a going forward basis the
      royalties and other contract obligations to, for example,
      Wilkem and Asarco.

The Debtor relates that Coal America is scheduling a final site
inspection of the mine in the next few weeks, but has advised the
Debtor that it has completed its due diligence.  Upon completion
of the site inspection, it will make a $1 million deposit to
secure its performance of the sale.  The sale is expected to close
at the end of March 2010.

Upon closing, the Debtor adds that it will propose a plan to
distribute the sale proceeds per the priorities in the Bankruptcy
Code, and will begin the process of reviewing and resolving claims
against the estate.

The sale to Coal America is subject to higher and better offers at
an auction.  Deadline for submission of bids is at 5:00 p.m. (CST)
on February 12, 2010.

For more information on the sale transaction, contact:

  Geroge H. Tarpley
  Cox Smith Matthews Incorporated
  Tel: (214) 698-7818

The Debtors proposes a hearing on the sale motion on February 19,
2010, at 9:00 a.m.(CST) at the U.S. Bankruptcy Court for the
Western District of Arkansas, Federal Building, 35 E. Mountain
Street, Fayetteville, Arkansas.

                       About Heidtman Mining

Toledo, Ohio-based Heidtman Mining, LLC, filed for Chapter 11 on
June 12, 2009 (Bankr. W.D. Ark. Case No. 09-72912).  George H.
Tarpley, Esq., Marcus Jermaine Watson, Esq., at Cox Smith Matthews
Incorporated; and Mark W. Hodge, Esq., at Chisenhall, Nesturd &
Julian, represent the Debtor in its restructuring efforts.  The
Debtor estimated $10 million to $50 million in assets and
$50 million to $100 million in debts in its bankruptcy petition.


IMAGE ENTERTAINMENT: To be Delisted From Nasdaq Stock Market
------------------------------------------------------------
Image Entertainment, Inc., had received a letter from The Nasdaq
Stock Market notifying the Company of the Nasdaq Hearing Panel's
determination to deny the Company's request for continued listing
on Nasdaq and to delist the Company's common stock.  The Company
previously requested and participated in a hearing before the
Nasdaq Hearing Panel on January 20, 2010, to appeal the delisting
determination of the staff of The Nasdaq Stock Market Listing
Qualifications Department.  The letter indicated that the
Company's common stock will be suspended from trading on Nasdaq
effective at the open of business on Wednesday, February 3, 2010.

Following the delisting, the Company currently expects that its
common stock will be quoted on the Pink Sheets, a centralized
electronic quotation service for over-the-counter securities, so
long as market makers demonstrate an interest in trading in the
Company's common stock.  No assurance can be given that the market
makers will continue to make a market in the Company's common
stock or that the Company's common stock will be quoted on the
Pink Sheets.

The Company currently does not intend to deregister its common
stock with the SEC.  Accordingly, it will continue to file
periodic, quarterly and annual reports with the SEC.

In addition, on January 27, 2010, the Company received a Nasdaq
Staff Deficiency Letter citing violations of Nasdaq Listing Rules
related to the Company's issuance of 3.5 million shares of common
stock on January 8, 2010, to the holder of its senior secured
convertible note due 2011 in exchange for $10,000 in principal
amount of the note.  Those violations include Listing Rules
5635(d) and 5250(e)(2) relating to the issuance of 20% or more of
the pre-transaction shares at a discount to market value without
obtaining shareholder approval, and the failure to timely file a
Notification Form Listing of Additional Shares with respect to the
shares issued in the exchange.  The Staff determined to aggregate
the exchange and the Company's previously announced sale of Series
B Preferred Stock and Series C Preferred Stock that also closed on
January 8, 2010, and that did not comply with Listing Rules
5635(d), 5635(b) and 5640.  The Staff's determination to aggregate
the exchange with the preferred stock financing was based on the
timing, use of proceeds and the fact that the transactions were
all part of the same financing plan.

As previously announced, on January 8, 2010, the Company closed
the sale of preferred stock to certain affiliates of JH Partners,
LLC, a San Francisco-based private equity firm focused on building
sustainable, long-term equity value in consumer and marketing-
driven growth companies, (the "Investors") for an aggregate
purchase price of $22.0 million.  The Company used a portion of
the net proceeds from the sale, along with the issuance of shares
of common stock, to repay in full and retire its senior secured
convertible note due 2011.  The remainder of the net proceeds will
be used to repay other outstanding indebtedness and outstanding
liabilities and for general working capital.  As a result of the
transaction, the Investors acquired control of the Company and a
new board of directors and management team were appointed.

                    About Image Entertainment

Image Entertainment, Inc., -- http://www.image-entertainment.com/
-- is an independent licensee and distributor of entertainment
programming in North America, with approximately 3,200 exclusive
DVD titles and approximately 340 exclusive CD titles in domestic
release and approximately 400 programs internationally via
sublicense agreements.  For many of its titles, the Company has
exclusive audio and broadcast rights and, through its subsidiary,
Egami Media, Inc., has digital download rights to approximately
2,000 video programs and over 300 audio titles containing more
than 5,100 individual tracks.  The Company is headquartered in
Chatsworth, California.

Image Entertainment has assets of $81,121,000 against debts of
$80,188,000 as of September 30, 2009.


IMPERIAL INDUSTRIES: Has Fifth Amendment to Forbearance Agreement
-----------------------------------------------------------------
Imperial Industries, Inc., and the assignee for the benefit of
creditors of its subsidiary, Just-Rite Supply, Inc., entered into
a Fifth Amendment to its Forbearance Agreement with its commercial
lender to extend the terms of the credit facility from January 29,
2010 to April 30, 2010.  The Fifth Amendment provides for the
lender's continued funding under the credit facility,
notwithstanding the Company's and assignee's past non-compliance
of certain terms set forth in the Forbearance Agreement as
previously amended, subject to an existing maximum credit of
$100,000.  The Fifth Amendment also provided for the maintenance
of payment terms of $10,000 per week for certain Just-Rite lease
obligations in default in the remaining principal amount of
approximately $77,000.  The Company is a guarantor of such lease
obligations.

There can be no assurance that the Company will receive additional
extensions of its amended credit facility upon termination of the
Forbearance Agreement, or obtain continued forbearance and funding
from the Lender on terms acceptable to the Company, or that such
financing will be available at all at the end of the Forbearance
period.

For further information and a more complete description of the
terms of the Assignment for the Benefit of Creditors and
Forbearance Agreement, as amended please refer to the Company's
Current Report on Form 8-K filed with the Securities and Exchange
Commission on February 1, 2010.

Pompano Beach, Florida-based Imperial Industries, Inc. (Nasdaq CM:
"IPII") -- http://www.imperialindustries.com/-- a building
products company, sells products primarily in the state of Florida
and to a certain extent the rest of the Southeastern United States
with facilities in the State of Florida.  The Company is engaged
in the manufacturing and distribution of stucco, plaster and
roofing products to building materials dealers, contractors and
others through its subsidiary, Premix-Marbletite Manufacturing Co.


INNOVATIVE COMPANIES: To Auction Certain Assets on February 10
--------------------------------------------------------------
The Hon. Dorothy Eisenberg of the U.S. Bankruptcy Court for the
Eastern District of New York authorized Innovative Companies LLC
and its debtor-affiliates, to sell their acquired assets, free and
clear all liens, claims and encumbrances, pursuant to Section 363
of the Bankruptcy Code.

The Debtors entered into a stalking horse asset purchase agreement
with Woodside related party, subject to bigger and better offers.

The stalking horse bidder will receive a break-up fee of $150,000
fee,
      solely in the event that a bidder other than the stalking
      horse purchaser is selected as the successful bidder for the
      acquired assets; and

   -- in addition to the breakup fee, and in the event that the
      Debtors consummate the sale transaction with a purchaser
      other than the stalking horse purchaser, the stalking horse
      purchaser is entitled to reimbursement by the Debtors of its
      reasonable and documented expenses up to a maximum amount of
      $120,000.

The Debtors related that their use of cash collateral will
terminate unless a sale order will become final and non-appealable
by March 9, 2010.

Any person wishing to submit a higher or better offer for the
acquired assets, or any portion thereof, must submit a qualified
bid by February 8, 2010 at 9:30 a.m.

The auction will be conducted and held on February 10, 2010, at
9:30 a.m. at the offices of Moritt Hock Hamroff & Horowitz LLP,
400 Garden City Plaza, Garden City, New York (or other time and
place as the Debtors may designate.)

The Court will conduct the sale hearing on February 18, 2010, at
11:00 a.m. (Eastern Time) at which time the Court will consider
approval of the sale transaction to the successful bidder.
Objections, if any, are due on February 12, 2010, at noon.

Headquartered in Hauppauge, New York, The Innovative Companies LLC
and its affiliates filed for Chapter 11 protection on April 17,
2009 (Bankr. E.D.N.Y. Lead Case No. 09-72669).  Leslie A. Berkoff,
Esq., at Moritt Hock Hamroff Horowitz LLP, represents the Debtors
in their restructuring efforts.  David M. Banker, Esq., at
Lowenstein Sandler PC, represents the official committee of
unsecured creditors as counsel.  In its petition, the Company
listed between $10 million and $50 million each in assets and
debts.


INTERSTATE EQUIPMENT: Case Summary & 20 Largest Unsec. Creditors
----------------------------------------------------------------
Debtor: Interstate Equipment Sales & Rental, Inc
        901 Four Mile Road
        Richmond, KY 40475

Bankruptcy Case No.: 10-50280

Chapter 11 Petition Date: January 29, 2010

Court: United States Bankruptcy Court
       Eastern District of Kentucky (Lexington)

Debtor's Counsel: W. Thomas Bunch, Sr., Esq.
                  271 W Short Street #805
                  PO Box 2086
                  Lexington, KY 40588-2086
                  Tel: (859) 254-5522
                  Email: WTB@BunchLaw.com

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

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

According to the schedules, the Company has assets of $9,630,557,
and total debts of $16,868,010.

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

            http://bankrupt.com/misc/kyeb10-50280.pdf

The petition was signed by Joseph L. Campbell, president of the
Company.


ITC DELTACOM: S&P Assigns 'B-' Rating on $325 Mil. Senior Notes
---------------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its 'B-'
issue rating and '5' recovery rating to Huntsville, Alabama-based
competitive local exchange carrier ITC DeltaCom Inc.'s proposed
$325 million senior secured notes due 2016.  S&P also assigned
a 'BB-' issue rating and '1' recovery rating to ITC's new
$30 million revolving credit expiring in 2015.  While the revolver
and the notes are expected to be guaranteed and secured by
essentially all the assets of the borrower and its subsidiaries,
the revolver is expected to be contractually senior to the notes
in the event of enforcement of the security.

At the same time, S&P raised ITC's corporate credit rating to 'B'
from 'B-'.  While S&P raised the rating on the existing term loan
and revolving credit of subsidiary InterState FiberNet Inc. to 'B-
' from 'CCC+', this debt, along with unrated second-lien bank
debt, will be refinanced with the proceeds of the new issue and
S&P will withdraw these ratings when the refinancing closes.  The
outlook is stable.  Pro forma for the refinancing, the company
will have about $325 million of total funded debt outstanding.

"The corporate credit rating upgrade is due to several factors,"
explained Standard & Poor's credit analyst Catherine Cosentino,
"including S&P's expectation that the company will operate at net
free cash flow break-even to positive levels on a sustained
basis."  In addition, ITC has demonstrated that even in a weak
economic climate, its base of business has remained relatively
stable, and its profit margins have improved, due largely to the
positive effects of the incremental capital associated with its
recent network upgrade and associated movement of more traffic to
these lower cost, on-net facilities.  Further, the risk of special
access re-pricing with the expiration of the BellSouth merger
condition is mitigated by the fact the company has already
migrated to negotiated agreements with BellSouth for most of its
loop connections.  S&P also does not expect leverage to exceed 4x
over the next few years, given expectations for flat-to-modest
low-single-digit EBITDA growth over the next few years.

"While the existing credit profile supports the upgrade, the
refinancing does provide some benefits," added Ms. Cosentino,
"including the removal of restrictive maintenance covenants and an
improved maturity schedule."  S&P expected the company to continue
to meet financial covenants under the current term loan, which
tighten in 2010.  However, the new notes contain no maintenance
covenants and the revolving credit maintenance covenants will only
be in effect upon a draw of this facility, providing the company
more flexibility to weather execution errors or an unforeseen drop
in the base of business.  The new notes also improve the company's
overall liquidity by extending maturities of a significant portion
of the company's debt from 2013 to 2016.


JACUZZI BRANDS: Moody's Changes Default Rating to 'Caa2/LD'
-----------------------------------------------------------
Moody's Investors Service has revised the probability of default
rating of Jacuzzi Brands Corporation to Caa2/LD from Caa2 and
raised the corporate family rating to Caa1 from Caa2.  These
actions follow the completion of a recapitalization on January 22,
2010 which raised $56 of new capital for Jacuzzi and exchanged
$175 million of second lien debt for equity of the company.
Moody's deems the exchange of the second lien debt to be a
distressed exchange.  The "LD" designation has been temporarily
added to the probability of default rating to denote the limited
default that occurred on Jacuzzi's second lien debt.  The "LD"
designation will be removed approximately three days after the
rating action.  The ratings outlook has been changed to stable
from negative.

The Caa1 corporate family rating reflects Jacuzzi's post-
recapitalization financial leverage, which remains high, solid
cash interest coverage metrics and weak ongoing end-market
fundamentals.  Specifically, Jacuzzi's bath and spa products are
discretionary and therefore continue to be pressured by weak,
albeit stabilizing, demand due to reduced housing starts and
repair and remodeling expenditures in the U.S. and Europe.
Moody's added that while it may take some time to restore margins
to historical levels, Jacuzzi earnings are beginning to reap the
benefits from headcount reductions and other restructuring actions
taken in 2009.

The stable outlook reflects the improvement in Jacuzzi's capital
structure following the recapitalization and an adequate liquidity
profile which benefits from the equity infusion, good ABL
availability and favorable financial covenant terms in its loan
agreements.  Further, the stable outlook reflects a meaningful
reduction in interest expense, although cash interest will remain
at similar levels as 2009 since second lien interest was being
paid-in-kind.

These ratings were changed:

* Corporate family rating upgraded to Caa1 from Caa2; and
* Probability of default rating revised to Caa2/LD from Caa2.

These ratings were affirmed:

* $167 million senior secured first lien term loan B, due 2014, at
  B3 (LGD2, 28%) (from 29%) and

* $15 million synthetic letter of credit facility, due 2014, at B3
  (LGD2, 28%) (from 29%).

This rating was withdrawn:

* Caa3 (LGD5, 79%) rating on the $175 million second lien term
  loan, due 2014

The last rating action was on March 19, 2009, when the corporate
family rating was downgraded to Caa2 from B3.

Jacuzzi Brands Corporation, headquartered in Chino Hills,
California, is a leading global producer of premium branded water
therapy and water comfort products for the residential remodeling
and construction markets.  Affiliates of Apollo Global Management,
LLC remain major investors in Jacuzzi following the
recapitalization.


JAPAN AIRLINES: Names M. Onishi President & H. Taguchi VP
---------------------------------------------------------
Japan Airlines Group announced the appointments of the Group
President and Executive Vice President, who will take office with
effect from February 1, 2010.

Masaru Onishi, 54, has been elected to lead the JAL Group as the
president of the Group's holding company -- Japan Airlines
Corporation (JALS), and main air transport operator Japan Airlines
International (JALI).  He will also be assigned the role of Chief
Operating Officer (COO) for the holding company.  Mr. Onishi
joined Japan Airlines in 1978 and for the 6 months prior to his
new assignment as president, was serving as the president of Japan
Air Commuter and an executive officer of Japan Airlines
International.

Hisao Taguchi, also 54, will be assuming the role of executive
vice president of the Group and of Japan Airlines International,
after serving as an executive officer in charge of the overall
operations of the JAL Group in the Kyushu region since April 2009.

Under the strong leadership of the Group chairman Kazuo Inamori,
and president Masaru Onishi, Japan Airlines will continue to
steadfastly provide flight operations of the highest safety and
service levels to its customers, and strive towards the rebuilding
of the Group.

                            About JAL

Japan Airlines Corporation -- http://www.jal.co.jp/-- is a
Japan-based company mainly engaged in the provision of air
transport services.  The Company is active in five business
segments through its 203 subsidiaries and 83 associated companies.
JAL International Co. Ltd. is a wholly owned operating subsidiary
of Japan Airlines Corporation.

                           *     *     *

Japan Airlines Corporation, Japan Airlines International Co., Ltd.
and JAL Capital Co., Ltd., on January 19, 2010, filed the
petitions to commenced corporate reorganization proceedings with
the Tokyo District Court.  The Court appointed the Enterprise
Turnaround Initiative Corporation of Japan and Eiji Katayama,
Esq., as reorganization trustees.

Japan Airlines Corp. filed for reorganization January 19 in the
Tokyo District Court and filed a Chapter 15 petition in New York
(Bankr. S.D.N.Y. Case No. 10-10198).  The Company said debt is
$28 billion.

Bankruptcy Creditors' Service, Inc., publishes Japan Airlines
Bankruptcy News.  The newsletter tracks the Chapter 15 proceedings
and the bankruptcy proceedings in Tokyo undertaken by Japan
Airlines Corp. and its various affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


JAPAN AIRLINES: To Decide on U.S. Alliance This Month
-----------------------------------------------------
Japan Airlines will announce its decision by February whether it
wants to forge alliance with Delta Air Lines Inc. and AMR Corp.'s
American Airlines, according to a report from The Nikkei Business
Daily.

The Center for Asia Pacific Aviation, citing the Japanese Mainichi
newspaper, said JAL has dumped its alliance with American Airlines
and oneworld in favor of Delta and SkyTeam.  The Japanese flagship
carrier, however, denied the news.

Enterprise Turnaround Initiative Corp. of Japan, which is
overseeing JAL's restructuring program, estimates the Delta/JAL
alliance as driving JPY9.2 billion or US$102 million in benefits,
rising to JPY17.2 billion or US$191 million if the carriers
receive antitrust immunity -- some three times the reported
benefits flowing from JAL's alliance with American Airlines,
according to the Mainichi Newspaper.

The report added that oneworld members, led by American Airlines,
have been vigorously lobbying to retain JAL in the grouping and
had offered to invest US$1.4 billion in JAL and strengthen
cooperation with core members.  Delta offered a total
US$1.02 billion in financial support to JAL, including
US$500 million in new investment, but offers of foreign financing
for JAL have been declined by ETIC, the report said.

Delta chief executive Richard Anderson, during a conference call
on January 26, 2010, said they continue to seek a tie-up with JAL.
In an official statement, Delta confirmed that it "has been in
discussion with JAL in hopes of forming a strategic SkyTeam
partnership that would provide significant benefits for JAL and
all of its stakeholders."

MarketWatch, citing The Yomiuri Shinbun, had reported that as of
January 15 Delta has reached an agreement with JAL "on a
comprehensive tie-up that mainly features code-sharing flight
services," noting that both airlines "are likely to officially
sign the deal after it's endorsed by new JAL top management to be
inaugurated after the JAL group applies for the application of
the Corporate Rehabilitation Law."

      American Airlines Warns Fight if JAL Switches Alliance

American Airlines warned JAL that it will face a messy fight if it
switches allegiance and forms a close partnership with Delta, The
Chicago Tribune said.

American Airlines, according to the report, would lose a longtime
partner in JAL, which links the U.S. carrier's passengers to a
host of cities within Japan and northern Asia, and would find
itself a bit player in the northern Pacific market.  The report
added that although American expects to prevail in its cause, its
chief executive officer, Gerard Arpey, ridiculed the notion that
Delta and JAL quickly could gain antitrust approval for a venture
that would control about 60% of the market.

           U.S. Yet To Decide on JAL Antitrust Immunity

If Japan Airlines decides on an alliance with either Delta or
American, it will need to file antitrust immunity with U.S.
authorities.

The U.S. Department of Transportation has informed the Japanese
Government that it has yet to decide on whether to grant antitrust
immunity to a potential alliance between JAL and an American
carrier, the MarketWatch cited the Nikkei.  The U.S. Department
also said it could not offer any guarantees of immunity, according
to the report.

Responding to Japanese media reports suggesting that the U.S. and
Japan had pre-arranged to approve antitrust applications, the U.S.
Government said it could block antitrust immunity applications
from Japan's carriers, The Wall Street Journal said citing a U.S.
Department of Transportation memo.

                            About JAL

Japan Airlines Corporation -- http://www.jal.co.jp/-- is a
Japan-based company mainly engaged in the provision of air
transport services.  The Company is active in five business
segments through its 203 subsidiaries and 83 associated companies.
JAL International Co. Ltd. is a wholly owned operating subsidiary
of Japan Airlines Corporation.

                           *     *     *

Japan Airlines Corporation, Japan Airlines International Co., Ltd.
and JAL Capital Co., Ltd., on January 19, 2010, filed the
petitions to commenced corporate reorganization proceedings with
the Tokyo District Court.  The Court appointed the Enterprise
Turnaround Initiative Corporation of Japan and Eiji Katayama,
Esq., as reorganization trustees.

Japan Airlines Corp. filed for reorganization January 19 in the
Tokyo District Court and filed a Chapter 15 petition in New York
(Bankr. S.D.N.Y. Case No. 10-10198).  The Company said debt is
$28 billion.

Bankruptcy Creditors' Service, Inc., publishes Japan Airlines
Bankruptcy News.  The newsletter tracks the Chapter 15 proceedings
and the bankruptcy proceedings in Tokyo undertaken by Japan
Airlines Corp. and its various affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


JAPAN AIRLINES: U.S. Court Issues Injunction on Creditor Actions
----------------------------------------------------------------
Judge James M. Peck of the U.S. Bankruptcy Court for the Southern
District of New York granted Japan Airlines Corporation, Japan
Airlines International Co., Ltd., and JAL Capital Co., Ltd.,
preliminary injunction to protect them from creditor actions or
lawsuits in the U.S. as they reorganize in their main bankruptcy
proceedings in Tokyo, Japan.

Prior to the U.S. Court's entry of the preliminary injunction
order, the Debtors amended their proposed preliminary injunction
order to incorporate the provisions agreed to by the Debtors to
resolve informal responses to the Application that the Debtors
received.

Beginning January 27, 2010, and continuing until the date of the
entry of the U.S. Court of a recognition motion:

  (a) the protections of Sections 361 and 362 of the Bankruptcy
      Code apply with respect to the Debtors and their property
      in the territorial jurisdiction of the United States;

  (b) the Foreign Representative is established as the Debtors'
      representative with full authority to administer their
      assets and affairs in the United States, including,
      without limitation, making payments on account of their
      prepetition and postpetition obligations;

  (c) the Foreign Representative is entrusted with the
      administration or realization of all or part of the
      Debtors' assets in the United States, including, without
      limitation, all of the Debtors' assets that may have been
      transferred to parties in the United States;

  (d) all persons and entities are enjoined from seizing,
      attaching or enforcing or executing liens or judgments
      against the Debtors' property in the United States or from
      transferring, encumbering or otherwise disposing of or
      interfering with the Debtors' assets or agreements in the
      United States without the express consent of the Foreign
      Representative;

  (e) all persons and entities are enjoined from commencing or
      continuing, including the issuance or employment of
      process of, any judicial, administrative or any other
      action or proceeding involving or against the Debtors or
      their assets or proceeds thereof that are located in the
      United States, or to recover a claim or enforce any
      judicial, quasi-judicial, regulatory, administrative or
      other judgment, assessment, order, lien or arbitration
      award against the Debtors or their assets or proceeds
      thereof that are located in the United States; and

  (f) the Foreign Representative has the right and power to
      examine witnesses, take evidence or deliver information
      concerning the Debtors' assets, affairs, rights,
      obligations or liabilities.

The Foreign Representative, in connection with his appointment as
the Debtors' trustee in the Japan Proceeding or as the "foreign
representative" in the Chapter 15 Cases; and the Debtors, are
granted the full protections and rights available pursuant to
Section 1519(a)(1)-(3) of the Bankruptcy Code.

Pursuant to Rule 65(b) of the Federal Rules of Civil Procedure,
made applicable to the Chapter 15 Cases pursuant to Rule 7065 of
the Federal Rules of Bankruptcy Procedure, no notice to any person
is required prior to entry and issuance of the Order.

The Court authorized the banks and financial institutions with
which the Debtors maintain bank accounts or on which checks are
drawn or electronic payment requests made in payment of
prepetition or postpetition obligations to continue to service and
administer the Debtors' bank accounts without interruption and in
the ordinary course and to receive, process, honor and pay any and
all checks, drafts, wires and automatic clearing house transfers
issued, whether before or after the Petition Date and drawn on the
Debtors' bank accounts by respective holders and makers thereof
and at the direction of the Foreign Representative or the Debtors,
as the case may be.

The Foreign Representative having confirmed that it has elected in
accordance with applicable Japanese insolvency law to assume,
accept, validate and perform the Debtors' obligations under the
Debtors' interline agreements and clearinghouse agreements and
billing and settlement agreements administered by the
International Air Transport Association (IATA), the IATA Clearing
House, Airlines Clearing House, Inc. and Universal Air Travel
Plan, Inc., the Debtors and the Foreign Representative, as the
case may be, are authorized to perform in accordance with the
Industry Agreements, including without limitation (a) to honor and
pay outstanding prepetition and postpetition claims arising in the
ordinary course of business under the Industry Agreements, and (b)
to process customary payments and transfers and to honor customary
transfer requests made by Debtors and other participants pursuant
to the Industry Agreements.

Notwithstanding anything to the contrary contained in the
Preliminary Injunction Order or in the Court's January 19, 2010
Order to Show Cause with Temporary Restraining Order, the
provisions of Sections 362 and 1520 of the Bankruptcy Code are
modified, nunc pro tunc to January 19, 2010, solely to the extent
necessary to permit performance of, and under, the Industry
Agreements by the Debtors and other parties to the agreements and
by financial institutions involved in implementing the agreements.

The Debtors are asking the U.S. Court to recognize their Japan
Proceeding as a "foreign main proceeding" as defined in Section
1502(4) of the Bankruptcy Code and Eiji Katayama, Esq., at Abe,
Ikubo & Katayama, as "foreign representative" as defined in
Section 101(24) of the Bankruptcy Code, unless otherwise extended
pursuant to Section 1519(b).

A full-text copy of the Preliminary Injunction Order is available
for free at http://bankrupt.com/misc/JAL_PreInjunctionOrd.pdf

                            About JAL

Japan Airlines Corporation -- http://www.jal.co.jp/-- is a
Japan-based company mainly engaged in the provision of air
transport services.  The Company is active in five business
segments through its 203 subsidiaries and 83 associated companies.
JAL International Co. Ltd. is a wholly owned operating subsidiary
of Japan Airlines Corporation.

                           *     *     *

Japan Airlines Corporation, Japan Airlines International Co., Ltd.
and JAL Capital Co., Ltd., on January 19, 2010, filed the
petitions to commenced corporate reorganization proceedings with
the Tokyo District Court.  The Court appointed the Enterprise
Turnaround Initiative Corporation of Japan and Eiji Katayama,
Esq., as reorganization trustees.

Japan Airlines Corp. filed for reorganization January 19 in the
Tokyo District Court and filed a Chapter 15 petition in New York
(Bankr. S.D.N.Y. Case No. 10-10198).  The Company said debt is
$28 billion.

Bankruptcy Creditors' Service, Inc., publishes Japan Airlines
Bankruptcy News.  The newsletter tracks the Chapter 15 proceedings
and the bankruptcy proceedings in Tokyo undertaken by Japan
Airlines Corp. and its various affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


JEFFREY RICE: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Joint Debtors: Jeffrey Patrick Rice
               Stephanie Ann Rice
               6133 E. Sage Drive
               Paradise Valley, AZ 85253

Bankruptcy Case No.: 10-01838

Chapter 11 Petition Date: January 25, 2010

Court: United States Bankruptcy Court
       District of Arizona (Phoenix)

Judge: Charles G. Case II

Debtors' Counsel: Kevin Mccoy, Esq.
                  Allen, Sala & Bayne, P.L.C.
                  Viad Corporate Center
                  1850 N. Central Ave., #1150
                  Phoenix, AZ 85004
                  Tel: (602) 256-6000
                  Email: kmccoy@asbazlaw.com

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

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

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

The petition was signed by the Joint Debtors.


JESUS MEDINA: Updated Case Summary & 20 Largest Unsec. Creditors
----------------------------------------------------------------
Joint Debtors: Jesus Rosello Medina
                 aka Jess Medina
                 aka Crestline Financial and Markeing
                     Services, Inc.
               Angelica Maria Medina
                 aka Angelica Madrigal
                 aka Angelica Magana
               320 Arkansas St
               Vallejo, CA 94590

Bankruptcy Case No.: 10-21418

Chapter 11 Petition Date: January 22, 2010

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

Judge: Thomas Holman

Debtors' Counsel: Lewis Phon, Esq.
                  4040 Heaton Ct
                  Antioch, CA 94509
                  Tel: (415) 574-5029

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

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

A list of the Company's 20 largest unsecured creditors is
available for free at:

             http://bankrupt.com/misc/caeb10-21418.pdf

The petition was signed by the Joint Debtors.


KLCG PROPERTY: Files Schedules of Assets and Liabilities
--------------------------------------------------------
KLCG Property, LLC, filed with the U.S. Bankruptcy Court for the
District of Delaware its schedules of assets and liabilities,
disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property               $52,259,455
  B. Personal Property            $4,059,000
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                             $126,023,029
  E. Creditors Holding
     Unsecured Priority
     Claims                                               $0
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                               $0
                                 -----------      -----------
        TOTAL                    $56,318,455     $126,623,029

Headquartered in Gurnee, Illinois, KLCG Property, LLC, was
organized in Delaware on October 13, 2005, for the purpose of
constructing, owning, and operating a 414-room destination resort
hotel, indoor water park and conference center located within the
greater northern Chicagoland region.

KLCG Property filed for Chapter 11 bankruptcy protection on
December 16, 2009 (Bankr. D. Delaware Case No. 09-14418).  The
Company's affiliate, Gurnee Property, LLC, also filed for Chapter
11 bankruptcy protection.  Donald J. Bowman, Jr., Esq., and
Michael R. Nestor, Esq., at Young Conaway Stargatt & Taylor assist
the Debtors in their restructuring efforts.  KLCG Property listed
$50,000,001 to $100,000,000 in assets and $100,000,001 to
$500,000,000 in liabilities.


LEHMAN BROTHERS: Barclays Urges Dismissal of "Windfall" Suit
------------------------------------------------------------
Barclays Plc. urged a judge to throw out a lawsuit by Lehman
Brothers Holdings Inc.'s bankruptcy estate alleging that it reaped
a secret $5 billion profit from its rushed September 2008 purchase
of the company's U.S. brokerage.

Separately, Barclays PLC objected Friday to attempts by Lehman
Brothers to modify a sale agreement between the companies,
rejecting as "frivolous" allegations that it acquired Lehman's
assets in a fire sale and accusing the debtor of trying to avoid a
contractual obligation to pay another $3 billion, according to
Law360.

                       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)


LIBBEY INC: Prices $400 Million Senior Secured Notes
----------------------------------------------------
Libbey Inc. said that its wholly owned subsidiary Libbey Glass
Inc. has priced $400 million aggregate principal amount of 10%
senior secured notes due 2015 in a private placement.  The Notes
will be sold at a price equal to 98.082% of their face value.  The
sale of the Notes is expected to close on February 8, 2010,
subject to customary closing conditions.

Libbey Glass intends to use the net proceeds from the sale of the
Notes, together with cash on hand, to:

   * repurchase its existing $306 million Floating Rate Senior
     Secured Notes due 2011 in a previously announced tender
     offer;

   * repay its $80.4 million Senior Subordinated Secured Payment-
     in-Kind Notes due 2021; and

   * pay related fees and expenses.

The sale of the Notes is contingent upon the entry into a new
$110 million senior secured asset-based revolving credit facility
by Libbey Glass and its direct wholly owned subsidiary Libbey
Europe B.V., as borrowers, and Libbey and certain of Libbey Glass'
existing and future subsidiaries as guarantors.

The Notes will be senior secured obligations of Libbey Glass and
will be guaranteed by Libbey and all of Libbey Glass' existing and
future domestic subsidiaries that guarantee any of Libbey Glass'
indebtedness or any indebtedness of any subsidiary guarantor. The
Notes and the guarantees of the Notes will be secured by first-
priority liens on substantially all the owned property, equipment
and fixtures in the United States of Libbey Glass, Libbey and the
subsidiary guarantors and by second-priority liens on the tangible
and intangible assets in the United States of Libbey Glass, Libbey
and the domestic subsidiary guarantors that secure their
obligations under the new credit facility described above, subject
to certain exceptions.

Based in Toledo, Ohio, since 1888, Libbey operates glass tableware
manufacturing plants in the United States in Louisiana and Ohio,
as well as in Mexico, China, Portugal and the Netherlands.  Libbey
supplies tabletop products to foodservice, retail, industrial and
business-to-business customers in over 100 countries.  In 2008,
Libbey Inc.'s net sales totaled $810.2 million.

                            *    *    *

According to the Troubled Company Reporter on Feb. 1, 2010,
Standard & Poor's Ratings Services said that it affirmed its 'B'
corporate credit rating on Toledo, Ohio-based Libbey Inc.  The
outlook is stable.


LUIS TABARES: Case Summary & 17 Largest Unsecured Creditors
-----------------------------------------------------------
Joint Debtors: Luis O. Tabares
               Ines C. Tabares
               5200 Manor Wood Dr
               Sarasota, FL 34235

Bankruptcy Case No.: 10-02019

Chapter 11 Petition Date: January 29, 2010

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

Judge: Caryl E. Delano

Debtors' Counsel: Marshall G. Reissman, Esq.
                  Law Offices of Marshall G. Reissman
                  5150 Central Ave
                  St. Petersburg, FL 33707
                  Tel: (727) 322-1999
                  Fax: (727) 327-7999
                  Email: marshall@reissmanlaw.com

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

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

According to the schedules, the Company has assets of $1,818,354
and total debts of $2,794,742.

A full-text copy of the Debtors' petition, including a list of
their 17 largest unsecured creditors, is available for free at:

             http://bankrupt.com/misc/flmb10-02019.pdf

The petition was signed by the Joint Debtors.


LYNNE CURTIN: Mulls Bankruptcy Amid $1.26 Million Court Judgment
----------------------------------------------------------------
Richard K. De Atley at The Press-Enterprise reports actress
Lynne Curtin of "The Real Housewives of Orange County" TV show
and her husband Frank might declare bankruptcy as they face a
$1.26 million court judgment.

Press-Enterprise says Ms. Curtin said their "The Real Housewives
of Orange County" salary "Just gets us by.  Most people think we
get $100,000 an episode -- that's not us.  I wish it was."

Press-Enterprise says the judgment against the Curtins is over
real estate development deals gone sour.  Bankruptcy is "an option
to consider . . . they need to talk it over," said the couple's
attorney, Franklin Casco Jr., Esq., according to Press-Enterprise.

The suit was filed by real estate investor Mercury Manzano, Press-
Enterprise reports.


LYONDELL CHEMICAL: Judge Won't Expand Examiner Work
---------------------------------------------------
Bankruptcy Judge Robert Gerber entered a formal order on
January 27, 2010, denying the Official Committee of Unsecured
Creditors' request to expand the scope of duties or investigation
of Jack F. Williams, the appointed Examiner in the Debtors'
Chapter 11 cases.

Judge Gerber opined that the Examiner has completed the
investigation previously approved by the Court and has given no
cause for concern as to the Debtors' conduct.  Judge Gerber
further held that there has been no showing of a further need in
the Debtors' Chapter 11 cases for the Examiner to fill.

Thus, for reasons set forth on the record at a January 19, 2010
hearing, Judge Gerber ruled that no cause exists to expand the
scope of the Examiner's investigation or duties.

                     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: Parties File Plan Confirmation Objections
------------------------------------------------------------
A number of parties complain that the Disclosure Statement
explaining Lyondell Chemical Co.'s Second Amended Joint Plan of
Reorganization contains inadequate information concerning crucial
aspects of the Amended Plan pursuant to Section 1125 of the
Bankruptcy Code:

-- the Official Committee of Unsecured Creditors,

-- Ad Hoc Committee of Bridge Loan Claimants,

-- ConocoPhillips Company,

-- Wilmington Trust Company,

-- Law Debenture Trust Company of New York,

-- insurance companies,

-- United Steel, Paper and Forestry, Rubber, Manufacturing,
    Energy, Allied Industrial and Service Workers International
    Union,

-- H&S Constructors, Inc.,

-- GIM Channelview Cogeneration, LLC and GIM Retail Energy, LLC,
    and

-- Personal Injury Claimants.

Absent the changes, the Objecting Parties ask the Court to deny
approval of the Disclosure Statement.

(a) Creditors' Committee

The Creditors' Committee asserts that the Debtors' request for
approval of the Disclosure Statement is premature because the
Amended Plan and the Disclosure Statement are predicated on the
Court's approval of a Lender Litigation Settlement entered between
the Debtors and the Ad Hoc Group of Senior Secured Lenders.

The Committee's counsel, Steven D. Pohl, Esq., at Brown Rudnick
LLP, in Boston, Massachusetts, argues that the Disclosure
Statement fails to explain how unsecured creditors will be
involved in oversight of the litigation trust or the method of
selecting the litigation trustee under the Amended Plan.  These
provisions, he says, deprive the Committee and general unsecured
creditors of their right to influence the action the Committee
commenced against the Debtors' prepetition secured lenders and
officers from and after the confirmation date of the Amended Plan.
More importantly, Mr. Pohl asserts that the Debtors should
disclose the status of interest that Reliance Industries, Ltd.,
and the terms of Reliance's latest offer so that creditors can
understand the basis for the Debtors' current position not to
proceed with a Reliance plan.  Reliance is willing to support a
plan that has a reserve for the Committee Action, which would
address the Debtors' major stumbling block in confirming a plan
that is not supported by their lenders, he points out.

Among others, the Committee seeks explanation of the treatment of
holders of Allowed General Unsecured Claims against the Debtors
that are obligors under the a Bridge Loan Agreement and an
August 10, 2005 indenture for 8.375% senior notes due 2015 in the
principal amounts of $615 million and EUR500 million, which
treatment seems to suggest substantive consolidation.  The
Committee also wants the Debtors to state in the Disclosure
Statement the amount of payments made to creditors within the
applicable preference period under Section 547 of the Bankruptcy
Code.  Based on the Debtors' Statement of Financial Affairs, about
$7.5 billion of payments were made by the Debtors during the 90-
day period ending on the Petition Date, Mr. Pohl notes.

Should the Court approve the Disclosure Statement, the Committee
seeks the Court's permission to provide a letter enclosure to the
Disclosure Statement reflecting the Committee's views, including
the right to make a recommendation to vote against acceptance of
the Plan.

(b) Ad Hoc Committee

An ad hoc committee of claimants under a December 20, 2007 Bridge
Loan Agreement composed of FCCD Ltd., FCCO Ltd., and Cerberus
Series Four Holdings LLC complains that it is unable to derive
from the Disclosure Statement information adequate to determine
the value of the Debtors, and the precipitous collapse in the
Debtors' value over the course of 2009.  Had the Debtors
maintained the valued found by the Court in February 2009, the
Senior Secured Lenders would be compensated in full, and the
lenders under the Bridge Loan Agreement would receive significant
distributions, Ross S. Barr, Esq., at Jones Day, in San Francisco,
California, counsel to the Ad Hoc Committee, contends.  As
fiduciaries to their various clients, the Bridge Loan Claimants
seek to understand the valuation described in the Disclosure
Statement and its implications for their recovery, he insists.

The Bridge Loan Claimants hold claims against certain non-Debtors
and Debtors, amounting to $8.3 billion.

(c) ConocoPhillips

ConocoPhillips cites these critical failures to the Disclosure
Statement that leave creditors without sufficient information to
evaluate the Amended Plan:

  (a) lack of sufficient information regarding the Committee
      Action and the Litigation Trust, including details as a
      complete list and description of the claims asserted in
      the litigation, the likelihood of recovery, and the
      management of the Litigation Trust;

  (b) lack of information or explanation regarding potential
      dilution of unsecured creditor claims against the Obligor
      Debtors by inclusion -- within the unsecured creditor
      class -- of claims based on the 2015 Notes and claims
      against certain Debtors that are not Obligor Debtors;

  (c) no disclosure of details of the offer received from
      Reliance Industries for a controlling interest in the
      Debtors, including price, terms, or potential impact on
      creditor recoveries;

  (d) no information regarding the disposition of the Debtors'
      estates' Chapter 5 causes of action, and the preferential
      or fraudulent transfer actions in connection with Debtor
      LyondellBasell Industries AF S.C.A. and Access Industries-
      related entities;

  (e) no disclosure of whether the Debtors' estates will have
      the cash on hand to pay what is likely to be large number
      of Section 503(b)(9) of the Bankruptcy Code claims; and

  (f) no disclosure or discussion of the basis for the Amended
      Plan's de facto substantive consolidation.

(d) Wilmington Trust

Wilmington Trust, as indenture trustee for holders of the 2015
Noteholders, insists that the Disclosure Statement failed to fully
and accurately describe these matters:

  (a) the dispute between Wilmington Trust and the 2015
      Noteholders, and the Debtors and the holders of debt
      imposed on the Debtors in connection with a December 20,
      2007 leveraged acquisition of Lyondell Chemical Company,
      concerning:

      -- the validity and enforceability against Wilmington
         Trust and the 2015 Noteholders under a Intercreditor
         Agreement dated December 20, 2007, that purports to
         subordinate the 2015 Notes to the LBO Debt; and

      -- that the LBO Debt was imposed in violation of the 2015
         Indenture and the related intercreditor agreement dated
         August 1, 2005;

  (b) the December 2007 Intercreditor Agreement and its effect
      on the treatment of the claims of the 2015 Noteholders;

  (c) the issues regarding the validity under applicable
      domestic and foreign law of the methodology to be employed
      to obtain the proposed release of European Non-Debtor
      guarantees of the 2015 Notes and the permanent injunction
      that seeks to enjoin all 2015 Noteholders, wherever they
      are located, from enforcing their claims against the non-
      Debtors; and

  (d) the effect of applicable European laws on the
      enforceability of the LBO Debt incurred by the European
      non-Debtor affiliates of the Debtors, including the
      avoidability of the LBO Debt under these laws, and the
      resulting recoveries that would accrue to the 2015
      Noteholders under the guarantees provided by Non-
      Debtors in favor of the 2015 Noteholders.

Wilmington Trust's counsel, John Ashmead, Esq., at Seward & Kissel
LLP, in New York, argues that $615 million in principal amount and
EUR500 million are outstanding under the 2015 Notes.  As the 2015
Notes represent about 50% of the Debtors' unsecured debt, the
Debtors must provide full and accurate disclosure to the 2015
Noteholders, he asserts.

(e) Law Debenture

Law Debenture disagrees with the allowance of the 2015 Note Claims
and sharing in any distributions made from the Litigation Trust.
Even if allowed in full, the 2015 Notes Claims should not be
entitled to any recovery from the Litigation Trust, Law
Debenture's counsel, Lewis S. Rosenbloom, Esq., at Dewey & Leboeuf
LLP, in Chicago, Illinois, argues.

Mr. Rosenbloom contends that treatment of the 2015 Notes Claims
under the Amended Plan may violate the good faith and best
interests of creditors' tests under Section 1129 of the Bankruptcy
Code.  Pursuant to subordination/turnover and enforcement
provisions in the Intercreditor Agreement, the 2015 Notes Claims
should be precluded from any recovery under the Amended Plan.  Per
the Debtors' "mapping analysis," holders of the 2015 Notes Claims
should be precluded from recovery until payment of claims at the
subsidiary Debtors, he argues.  The Disclosure Statement omits
debt limitation provisions incorporated in a November 27, 1996
Millennium Indenture, the Bridge Loan Agreement and the Senior
Secured Credit Agreement, which may impact recoveries to holders
of Claims against Debtors Millennium Specialty Chemicals, Inc.;
Millennium Petrochemicals, Inc.; Millennium America, Inc., and
Millennium Chemicals, Inc., he stresses.

Law Debenture is indenture trustee to holders of certain notes
aggregating more than $241 million, issued by Millennium America
and guaranteed by Millennium Chemicals.

(f) Insurance Companies

In separate filings, Fireman's Fund Insurance Company and about 24
insurance companies, Westchester Fire Insurance Company and Mt.
McKinley Insurance Company formerly known as Gibraltar Casualty
Company and Everest Reinsurance Company formerly known as
Prudential Reinsurance Company complain that the Disclosure
Statement fails to provide basic and meaningful information about
the mechanics -- and the associated risks to the extent that
payment of claims under the Amended Plan depends on the
availability of insurance proceeds.

The Disclosure Statement purports that the Debtors and Reorganized
Debtors will have the exclusive authority to object to, and
ultimately resolve, Claims under the Amended Plan in violation of
the Insurers' contractual rights under the relevant insurance
policies issued to the Debtors, Michael Smith, Esq., at Frantz
Ward, LLP, in Cleveland, Ohio, counsel to Fireman's Fund, points
out.  He further contends that the Disclosure Statement fails to
state how the Debtors and the Reorganized Debtors intend to
provide the Insurers with adequate assurance of future performance
with respect to any Insurance Agreements that are being assumed
under Section 365 of the Bankruptcy Code.

A list of the 24 Insurers who object to the Disclosure Statement
is available for free at:

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

Westchester Fire insists that the $250 million bonds issued and
the Debtors' related obligations under the Resource Conservation
and Recovery Act, Comprehensive Environmental Response
Compensation and Liability Act and other applicable state law must
be addressed in the Disclosure Statement.

In another filing, Mt. McKinley Insurance and Everest Reinsurance
Company formerly known as Prudential Reinsurance Company clarify
that all insurance policies that might have provided coverage for
lead poisoning liabilities incurred in the Debtors' numerous sites
in the United States have been rescinded by a settlement agreement
entered among the Debtors, Mt. McKinley and Everest Reinsurance in
November 1998.

Mutual Marine Office, Inc., joins in the objection of Mt. McKinley
and Everest Reinsurance to the Disclosure Statement.

(g) USW

USW alleges that the Debtors inaccurately describe the status of
the collective bargaining agreement it entered with Houston
Refining and mischaracterize a decision by the National Labor
Relations Board with respect to that relationship.  The USW thus
asks that a language stating that its disagreement with Houston
Refining's representations with respect to the status of the
collective bargaining agreement and the meaning of the NLRB's
determinations be inserted in the Disclosure Statement.  The USW
further asks that the Debtors list the adversary proceeding it
commenced against Houston Refining in the Disclosure Statement.

(h) H&S Constructors

H&S Constructors argues that it falls under Class 6 of the Amended
Plan.  In this light, the Disclosure Statement should make it
explicit who the Debtors believe is in Class 6 by listing these
creditors in an exhibit to the Disclosure Statement by name, and
summarizing what property they have a lien on, H&S Constructors
asserts.  H&S Constructors further complains that the Disclosure
Statement does not tell creditors in Class 6 how and when they
will paid and what interest rate, if any, is proposed to be paid
on their claims.

(i) GIM Entities

The GIM Entities insist that the Disclosure Statement should
provide information on the (i) the terms of any financing the
Debtors will need to confirm the Amended Plan and exit bankruptcy,
and (ii) the executory contracts and leases that the Debtors will
assume under the Amended Plan.  The information requested is
important to the GIM Entities because certain of Debtor Equistar
Chemicals, L.P.'s integrated contracts and leases with the GIM
Entities restrict Equistar's ability to grant liens on a parcel of
land leased by Equistar from the GIM Entities' predecessor, Robert
J. Dehney, Esq., at Morris, Nichols, Arsht & Tunnell LLP, in
Wilmington, Delaware, argues.  He explains that these covenants
are designed to protect the GIM Entities' half a billion dollar
investment in a cogeneration facility in Channelview, Texas, he
points out.

(j) PI Claimants

In separate filings, individual tort victims from a crane collapse
in July 2008, in Debtor's Houston Refining, LP's property, and
Aaron and Tisha Palms contend that the Disclosure Statement fails
to provide adequate information regarding the Debtors' insurance
policies that provide coverage for their injuries.  The Crane
Accident Victims initiated an action against Houston Refining and
other parties in the 60th Judicial District Court of Jefferson
County, Texas.  The Palms commenced an action against Houston
Refining in the 164th Judicial District Court of Harris County,
Texas.

The PI Claimants assert that no information is given regarding the
Amended Plan's effect on their Actions.  The PI Claimants disclose
that they each attempted to obtain clarification from the Debtors
as to the proposed status and disposition of the relevant
insurance policies, but have not received any response.

A list of the Crane Accident Victims is available for free
at http://bankrupt.com/misc/Lyondell_CraneAccidentVictims.pdf

                     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: Plan Confirmation Hearing Set for April 15
-------------------------------------------------------------
Judge Robert Gerber of the United States Bankruptcy Court for the
Southern District of New York will consider confirmation of
Lyondell Chemical Company and its debtor affiliates' Second
Amended Joint Plan of Reorganization on April 15, 2010.
Objections to the Amended Plan are due April 6, 2010.

A hearing to determine adequacy of the Disclosure Statement
accompanying the Amended Plan is currently set on February 8,
2010.  Objections to the Disclosure Statement were due
January 27, 2010.

The Court sets February 22 as the record date to determine
creditors that are entitled to vote on the Amended Plan.

To support their cause for the approval of their Disclosure
Statement, the Debtors, on January 26, amended exhibits to their
Motion to Approve Disclosure Statement.  The amended exhibits
include:

* a proposed order approving the Disclosure Statement,

* a form of ballot for accepting or reject the Amended Plan,

* a notice of confirmation hearing and objection deadline to
  confirmation of the Amended Plan,

* a notice of commencement of rights offering in connection
  with the Amended Plan, and

* a subscription form for the rights offering in the Amended
  Plan.

A full-text copy of the Amended Exhibits dated January 26, 2010 is
available for free at:

    http://bankrupt.com/misc/Lyondell_Jan26AmExhibits.pdf

A blacklined version of the Amended Exhibits comparing the
previously filed Plan Exhibits is available for free at:

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

According to Christopher R. Mirick, Esq., at Cadwalader,
Wickersham & Taft LLP, in New York, the Amended Plan contains an
injunction that prevents, among others, any holder of any claim or
equity interest in the Debtors' Chapter 11 cases accepting
distributions under the Plan, including all claims arising from
the DIP Term Loan Agreement; a December 20, 2007 Senior Secured
Credit Agreement; a Bridge Loan Agreement; and an August 10, 2005
indenture for 8.375% senior notes due 2015 in the principal
amounts of $615 million and EUR500 million, from directly or
indirectly commencing or continuing any action against the
Debtors, enforcing judgments related to these claims or interests,
asserting rights of setoff, recoupment or subrogation on and after
the effective date of the Amended Plan.  The Debtors will not have
any liability for any administrative expense, claim against or
equity interest in the Debtors that arose prior to the effective
date under the Plan, he said.

Mr. Mirick added that the Amended Plan contains releases and
injunctions in favor of:

  -- the Debtors;

  -- the Reorganized Debtors;

  -- the Ad Hoc Group of Senior Secured Lenders;

  -- current and former agents under the Senior Secured Credit
     Agreement and the Bridge Loan Agreement;

  -- the Senior Secured Lenders;

  -- UBS AG, Stamford Branch and Citibank N.A. as DIP Agents;

  -- the DIP Lenders;

  -- LeverageSource (Delaware) LLC, an affiliate of Apollo
     Management VII, L.P., AI LBI Investment LLC, and affiliate
     of Access Industries, and Ares Corporate Opportunities Fund
     III, L.P. as the Rights Offering Sponsors;

  -- the lenders under the Bridge Loan Agreement;

  -- the arrangers with respect to the Senior Secured Credit
     Agreement and the Bridge Loan Agreement;

  -- the Official Committee of Unsecured Creditors;

  -- the security agent under a December 20, 2007 Intercreditor
     Agreement;

  -- the Disbursing Agent under the Amended Plan; and

  -- these parties' officers.

The releases and injunctions exclude any claim asserted in the
action commenced by the Creditors' Committee against the Debtors'
prepetition lenders and officers and not settled by the Lender
Litigation Settlement entered between the Debtors and Financing
Party Defendants, Mr. Mirick related.

                     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)


MAJESTIC STAR: Files Schedules of Assets & Liabilities
------------------------------------------------------
The Majestic Star Casino, LLC, filed with the U.S. Bankruptcy
Court for the District of Delaware its schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property              $115,374,916
  B. Personal Property          $177,368,152
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                              $427,508,171
  E. Creditors Holding
     Unsecured Priority
     Claims                                               $0
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                      $242,152,781
                                 -----------      -----------
        TOTAL                   $292,743,068     $669,660,952

The Majestic Star Casino, LLC -- aka Majestic Star Casino, aka
Majestic Star -- is based in Las Vegas, Nevada.  It is a wholly
owned subsidiary of Majestic Holdco, LLC, which is a wholly owned
subsidiary of Barden Development, Inc.  The Company was formed on
December 8, 1993, as an Indiana limited liability company to
provide gaming and related entertainment to the public.  The
Company commenced gaming operations in the City of Gary at
Buffington Harbor, located in Lake County, Indiana on June 7,
1996.  The Company is a multi-jurisdictional gaming company with
operations in three states -- Indiana, Mississippi and Colorado.

The Company filed for Chapter 11 bankruptcy protection on
November 23, 2009 (Bankr. D. Delaware Case No. 09-14136).

The Company's affiliates -- The Majestic Star Casino II, Inc., The
Majestic Star Casino Capital Corp., Majestic Star Casino Capital
Corp. II, Barden Mississippi Gaming, LLC, Barden Colorado Gaming,
LLC, Majestic Holdco, LLC, and Majestic Star Holdco, Inc. -- also
filed separate Chapter 11 petitions.

Kirkland & Ellis LLP is the Debtors' bankruptcy counsel.  James E.
O'Neill, Esq., Laura Davis Jones, Esq., and Timothy P. Cairns,
Esq., at Pachulski Stang Ziehl & Jones LLP are the Debtors'
Delaware counsel.  Xroads Solutions Group, LLC, is the Debtors'
financial advisor, while EPIQ Bankruptcy Solutions LLC are the
Debtors' claims and notice agent.

The Majestic Star Casino, LLC's balance sheet at June 30, 2009,
showed total assets of $406.42 million and total liabilities of
$749.55 million.  When it filed for bankruptcy, the Company listed
up to $500 million in assets and up to $1 billion in debts.


MALUHIA DEVELOPMENT: Voluntary Chapter 11 Case Summary
------------------------------------------------------
Debtor: Maluhia Development Group, LLC
          dba MDG
        c/o PRM Realty Group, LLC
        150 N. Wacker Dr., Suite 1120
        Chicago, IL 60606

Bankruptcy Case No.: 10-30475

Chapter 11 Petition Date: January 21, 2010

Court: United States Bankruptcy Court
       Northern District of Texas (Dallas)

Judge: Barbara J. Houser

Debtor's Counsel: Rakhee V. Patel, Esq.
                  Pronske & Patel, P.C.
                  2200 Ross Avenue, Suite 5350
                  Dallas, TX 75201
                  Tel: (214) 658-6500
                  Fax: (214) 658-6509
                  Email: rpatel@pronskepatel.com

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

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

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

The petition was signed by Robert W. Harte, manager of the
Company.


MCCLATCHY COMPANY: Compensation Panel Approves 2010 Bonus Plan
--------------------------------------------------------------
The Compensation Committee of the Board of Directors of The
McClatchy Company approved the 2010 Senior Executive Retention
Bonus Plan to reward certain senior executive officers including
some of the named executive officers for their efforts towards
stabilizing the Company's financial outlook following a period of
significant economic turmoil.

Under the Retention Plan, Eligible Officers will receive
additional cash compensation for 2010 should the Company's
performance in operating cash flow for 2010 be sufficient to fund
a supplemental contribution by the Company under the Company's
401(K) Plan, as determined by the Board of Directors.

The Compensation Committee of the Board of Directors will
administer the Retention Plan and determine whether the criteria
for retention bonus payments have been satisfied.

The Retention Plan does not apply to the Chief Executive Officer
of the Company. The following named executive officers are
eligible to receive Bonus Payments in the following amounts:

  Named Executive Officer Title              Bonus Payment
  ----------------------- -----              -------------
Frank Whittaker           Vice President,    $175,000
                          Operations

Bob Weil                  Vice President,    $175,000
                          Operations

Pat Talamantes            Vice President,    $160,000
                          Finance and Chief
                          Financial Officer

If the conditions set forth in the Retention Plan are met, the
Bonus Payments will be payable by March 15, 2011.  In order to
receive a Bonus Payment, Eligible Officers must remain employed by
the Company or an affiliate of the Company on the Payment Date
unless the Eligible Officer's employment terminated due to (i)
death, (ii) disability as defined by the Company's 401(K) Plan,
(iii) early retirement under the Company's Retirement Plan, or
(iv) involuntary termination without cause or resignation for good
reason each as defined by the Retention Plan.

                     About McClatchy Company

The McClatchy Company is the third largest newspaper company in
the United States, with 30 daily newspapers, 43 non-dailies, and
direct marketing and direct mail operations.  McClatchy also
operates leading local websites in each of its markets which
extend its audience reach.  The websites offer users comprehensive
news and information, advertising, e-commerce and other services.
Together with its newspapers and direct marketing products, these
interactive operations make McClatchy the leading local media
company in each of its premium high growth markets.  McClatchy-
owned newspapers include The Miami Herald, The Sacramento Bee, the
Fort Worth Star-Telegram, The Kansas City Star, The Charlotte
Observer, and The News & Observer (Raleigh).

McClatchy also owns a portfolio of premium digital assets,
including 14.4% of CareerBuilder, the nation's largest online job
site, 25.6% of Classified Ventures, a newspaper industry
partnership that offers two of the nation's premier classified
websites: the auto website, cars.com, and the rental site,
Apartments.com and 33.3% of HomeFinder, LLC which operates the
real estate website HomeFinder.com.  McClatchy is listed on the
New York Stock Exchange under the symbol MNI.

At September 27, 2009, the Company had $3,325,395,000 in total
assets against $275,532,000 in total current assets and
$2,947,256,000 in total non-current liabilities.

                            *     *     *

According to the Troubled Company Reporter on Jan. 29, 2010,
Moody's Investors Service placed The McClatchy Company's Caa2
Corporate Family Rating, Caa2 Probability of Default Rating and
Caa3 senior unsecured note ratings on review for possible upgrade.
In addition, Moody's assigned a (P)B1 rating to McClatchy's
proposed $875 million senior secured notes due 2017 and a (P)B1
rating to the extended portion of its amended credit facility.

The review follows McClatchy's announcement that it has obtained
an amendment to extend the maturity on approximately 90% of its
credit facility by two years to July 2013, launched the offering
for the proposed senior secured notes, and launched a tender offer
for all of its 7.125% notes due 2011 and 15.75% senior unsecured
guaranteed notes due 2014 at premiums to par (including early
participation/consent payments).  McClatchy plans to utilize the
net proceeds from the note offering to fund an approximate 60%
paydown of extending credit facility instruments, and the note
tender offers.  Moody's believes the transactions would
meaningfully improve the company's liquidity position and reduce
near term default risk and this drives the review for upgrade.


MEXICAN AMERICAN: Updated Case Summary & Unsecured Creditors
------------------------------------------------------------
Debtor: Mexican American Alcoholism Program, Inc.
          aka MAAP, Inc.
          aka Sacramento Community Health Center
        4241 Florin Rd #65
        Sacramento, CA 95823

Bankruptcy Case No.: 10-22072

Chapter 11 Petition Date: January 29, 2010

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

Judge: Robert S. Bardwil

Debtor's Counsel: Anthony Asebedo, Esq.
                  11341 Gold Express Dr #110
                  Gold River, CA 95670
                  Tel: (916) 925-1800

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

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

A list of the Company's 20 largest unsecured creditors is
available for free at:

             http://bankrupt.com/misc/caeb10-22072.pdf

The petition was signed by F. Keith Longenbach, chief financial
officer of the company.


MICHAEL ALAN MYERS: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Michael Alan Myers
          dba Provident, Inc.
          fdba Champion Towing
          fdba City Towing & Transport, Inc.
          fdba Coast, Inc.
        1419 Parker Pl
        Brentwood, TN 37027

Bankruptcy Case No.: 10-00583

Chapter 11 Petition Date: January 22, 2010

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

Judge: Keith M. Lundin

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

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

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

According to the schedules, the Debtor has assets of $2,805,550,
and total debts of $3,405,709 as of the filing.

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

             http://bankrupt.com/misc/tnmb10-00583.pdf

The petition was signed by Mr. Myers.


MICHAEL GEIGER: Updated Case Summary & Unsecured Creditors
----------------------------------------------------------
Debtor: Michael Geiger
        96 Woodhill Road
        Newtown, PA 18940

Bankruptcy Case No.: 10-10513

Chapter 11 Petition Date: January 25, 2010

Court: United States Bankruptcy Court
       Eastern District of Pennsylvania (Philadelphia)

Judge: Jean K. FitzSimon

Debtor's Counsel: Kenneth E. Aaron, Esq.
                  Weir & Partners LLP
                  1339 Chestnut Street, Suite 500
                  Philadelphia, PA 19107
                  Tel: (215) 665-8181
                  Email: Kaaron@Weirpartners.Com

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

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

A list of the Company's 11 largest unsecured creditors is
available for free at:

            http://bankrupt.com/misc/paeb10-10513.pdf

The petition was signed by Mr. Geiger.


MICHAEL MACK: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Joint Debtors: Michael H. Mack
               Marilyn Kay Mack
               PO Box 217
               Nolensville, TN 37135

Bankruptcy Case No.: 10-00682

Chapter 11 Petition Date: January 25, 2010

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

Debtors' Counsel: E. Covington Johnston, Esq.
                  Johnston & Street
                  238 Public Sq
                  Franklin, TN 37064
                  Tel: (615) 791-1819
                  Fax: (615) 791-1418
                  Email: ecjohnston@covad.net

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

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

According to the schedules, the Company has assets of $2,455,910
and total debts of $1,640,900.

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

             http://bankrupt.com/misc/tnmb10-00682.pdf

The petition was signed by the Joint Debtors.


MICHAEL SHEPHERD: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Joint Debtors:  Michael David Shepherd
        Jeanetta R Shepherd
        1600 Briergate Dr.
        Duluth, GA 30097

Bankruptcy Case No.: 10-62555

Chapter 11 Petition Date: January 29, 2010

Court: United States Bankruptcy Court
       Northern District of Georgia (Atlanta)

Judge: Joyce Bihary

Debtor's Counsel: Ian M. Falcone, Esq.
                  The Falcone Law Firm PC
                  363 Lawrence Street
                  Marietta, GA 30060
                  Tel: (770) 426-9359
                  Email: attorneys@falconefirm.com

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

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

According to the schedules, the Company has assets of $2,891,884,
and total debts of $4,047,439.

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

            http://bankrupt.com/misc/ganb10-62555.pdf

The petition was signed by the Joint Debtors.


MIDWAY GAMES: Redstone, Midway Board Dodge Fiduciary Breach Claims
------------------------------------------------------------------
Law360 reports that a federal judge has killed breach of fiduciary
duty claims brought by Midway Games Inc.'s creditors committee
against members of its board of directors, saying the directors
aren't liable for the video game maker's "deepening insolvency"
before it filed for Chapter 11.

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.


MMFX INTERNATIONAL: Affiliate Files Schedules of Assets and Debts
-----------------------------------------------------------------
MMFX Canadian Holdings, Inc., an affiliate of MMFX International
Holdings, Inc., filed with the U.S. Bankruptcy Court for the
Central District of California its schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                        $0
  B. Personal Property                    $0
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                              $55,000,000
  E. Creditors Holding
     Unsecured Priority
     Claims                                               $0
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                               $0
                                 -----------      -----------
        TOTAL                             $0     $55,000,000

Irvine, California-based MMFX International Holdings, Inc., and
MMFX Canadian Holdings, Inc., filed for Chapter 11 on January 5,
2010 (Bankr. C.D. Calif. Case Nos. 10-10085 and 10-10083).
Margaret M. Mann, Esq., at Sheppard Mullin Richter & Hampton LLP
assists the Debtors in their restructuring efforts.  In their
petition, the Debtors listed assets and debts both ranging from
$50,000,001 to $100,000,000.


MOOSEHEAD FURNITURE: Can Access Unsecured Credit from Principals
----------------------------------------------------------------
Furniture Today reports that Moosehead Furniture can access, on an
interim basis, up to $10,000 in unsecured credit from its
principals Joshua Tardy, Dana Connors and Edward Skovron, to pay
for premiums on casualty and liability insurance required by its
bank.  A final hearing is set later this month.

Mooshead Furniture Co. makes furniture.  It filed for Chapter 11
bankruptcy to avert an auction that would liquidate its assets.


NATURAL PRODUCTS: Wilmington Acting as Agent, Not A Creditor
------------------------------------------------------------
Wilmington Trust disclosed that it is not a creditor to Natural
Products Group, LLC (Natural Products), which filed for Chapter 11
protection on January 27, 2010 in the United States Bankruptcy
Court for the District of Delaware.

Recent news reports may have led readers to believe that
Wilmington Trust is providing credit to Natural Products.  In
fact, Wilmington Trust is not a lender to Natural Products,
despite the bankruptcy filing's listing of Wilmington Trust among
Natural Products' largest unsecured creditors.  Wilmington Trust
is serving as agent for holders of approximately $215 million of
debt issued by Natural Products. Wilmington Trust has no credit
exposure, unsecured or otherwise, to Natural Products or any of
its subsidiaries.  Through its CCS business, Wilmington Trust is
paid a fee for providing these services.  The bankruptcy filing of
Natural Products has no effect on Wilmington Trust's balance
sheet, credit quality, or financial condition.

Wilmington Trust's CCS business offers institutional trustee,
agency, asset management, retirement plan, and administrative
services for clients worldwide who use capital market financing
structures, as well as those who seek to establish or maintain
nexus, or legal residency, for special purpose entities.  Because
Wilmington Trust does not underwrite securities offerings or
provide investment banking services, it is able to deliver
corporate trust services that are conflict-free.

                       About Wilmington Trust

Wilmington Trust Corporation is a financial services holding
company that provides Regional Banking services throughout the
mid-Atlantic region, Wealth Advisory services to high-net-worth
clients in 36 countries, and Corporate Client services to
institutional clients in 89 countries.  Its wholly owned bank
subsidiary, Wilmington Trust Company, which was founded in 1903,
is one of the largest personal trust providers in the United
States and the leading retail and commercial bank in Delaware.
Wilmington Trust Corporation and its affiliates have offices in
Arizona, California, Connecticut, Delaware, Florida, Georgia,
Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey,
New York, Pennsylvania, South Carolina, Vermont, the Cayman
Islands, the Channel Islands, London, Dublin, Frankfurt,
Luxembourg, and Amsterdam.


NEUMANN HOMES: Discloses Estimated Fees of Professionals
--------------------------------------------------------
Neumann Homes Inc. and its affiliated debtors notified the Court
of the estimated fees and expenses that are likely to be sought
by professionals retained in their Chapter 11 cases.

Under a January 25, 2010 notice, the Debtors estimated the total
fees and expenses likely to be sought by these professionals for
postpetition amounts previously stated in their monthly
statements or interim applications but currently unpaid are:

                                           Estimated Fees
Professionals                              and Expenses
-------------                             --------------
Skadden Arps Slate Meagher & Flom LLP        $938,792
UHY Advisors FLVS Inc.                       $570,769
Drinker Biddle & Reath LLP                   $147,622
Bracewell & Giuliani LLP                      $19,231
Paul Hastings Janofsky & Walker LLP          $290,000
Keating & Shure Ltd.                               $0

The Debtors also disclosed that the estimated total fees and
expenses that are likely to be sought by these professionals for
periods that have not been billed, through and including the
potential effective date of their Joint Plan of Liquidation are:

Professionals                              and Expenses
-------------                             --------------
Skadden Arps Slate Meagher & Flom LLP        $550,000
UHY Advisors FLVS Inc.                        $85,000
Drinker Biddle & Reath LLP                     $5,000
Bracewell & Giuliani LLP                     $112,098
Paul Hastings Janofsky & Walker LLP           $40,000
Keating & Shure Ltd.                             $400

The Debtors said they expect to propose modifications to the Plan
which, if approved by the Court at the confirmation hearing,
would require that any objections to the estimated fees and
expenses be filed within 21 days after January 25.

                       About Neumann Homes

Headquartered in Warrenville, Illinois, Neumann Homes Inc. --
http://www.neumannhomes.com/-- develops and builds residential
real estate throughout the Midwest and West US.  The company is
active in the Chicago area, southeastern Wisconsin, Colorado, and
Michigan.  The Company has built more than 11,000 homes in some
150 residential communities.  The Company offers formal business
training to employees through classes, seminars, and computer-
based training.

The Company filed for Chapter 11 protection on November 1, 2007
(Bankr. N.D. Ill. Case No. 07-20412).  George Panagakis, Esq., at
Skadded, Arps, Slate, Meagher & Flom L.L.P., was selected by the
Debtors to represent them in these cases.  The Official Committee
of Unsecured Creditors has selected Paul, Hastings, Janofsky &
Walker LLP, as its counsel in these bankruptcy proceeding.  When
the Debtors filed for protection from its creditors, they listed
assets and debts of more than $100 million.

(Neumann Bankruptcy News; Bankruptcy Creditors' Services Inc.
http://bankrupt.com/newsstand/or 215/945-7000)


NEUMANN HOMES: Proposes Settlement With Kenosha, et al.
-------------------------------------------------------
Neumann Homes Inc. and its affiliated debtors ask the U.S.
Bankruptcy Court for the Northern District of Illinois to approve
agreements that would settle their claims against American
Express Company, Cardmember Services and several municipalities.

Under the deal, the Debtors agreed to accept lump sum payments
for the settlement of their claims in the lawsuits they filed
against American Express, Cardmember Services, Hanover Park
District and the municipalities of Kenosha, Lockport, Wauconda,
Town of Firestone, Aurora, and Sturtevant.

The Debtors previously sued the municipalities to demand refunds
of permit fees and cash bonds, which the Debtors paid in
connection with their various residential developmental projects
in those municipalities.  The Debtors asserted that the funds
should be returned since the projects have not been completed.

The Debtors also filed lawsuits against Hanover Park to demand
payment of impact fees totaling $9,529, and against American
Express and Cardmember Services to recover avoidable transfers
totaling $36,910.

The Debtors agreed to accept these payments under the Settlement
Agreements:

    Defendants                     Amount
    ----------                   ---------
    The City of Kenosha           $35,428
    The City of Lockport           $7,840
    The Village of Wauconda        $4,875
    The Town of Firestone          $3,250
    The City of Aurora            $11,088
    Village of Sturtevant          $1,911
    Hanover Park Park District     $4,764
    American Express Company      $13,358
    Cardmember Services            $7,644

In return for the payments, the Debtors are required to file
stipulations in Court to dismiss the lawsuits.

Full-text copies of the Settlement Agreements are available
without charge at:

  http://bankrupt.com/misc/Neumann_SettlementAmex.pdf
  http://bankrupt.com/misc/Neumann_SettlementAurora.pdf
  http://bankrupt.com/misc/Neumann_SettlementCardmember.pdf
  http://bankrupt.com/misc/Neumann_SettlementFirestone.pdf
  http://bankrupt.com/misc/Neumann_SettlementHanover.pdf
  http://bankrupt.com/misc/Neumann_SettlementKenosha.pdf
  http://bankrupt.com/misc/Neumann_SettlementLockport.pdf
  http://bankrupt.com/misc/Neumann_SettlementSturtevant.pdf
  http://bankrupt.com/misc/Neumann_SettlementWauconda.pdf

In connection with the Settlements, the Debtors also ask the
Court to approve payment of attorney fees to Keating & Shure Ltd.
aggregating $36,063, which represents 40% of the total settlement
amount.

Keating & Shure was hired by the Debtors to pursue their claims
against the Defendants in return for a contingent fee of proceeds
collected in relation to the claims.

Kenosha City Attorney Ed Antaramian said the fees Neumann Homes
wants refunded include building permit applications for
structures that were not built, park and water utility impact
fees for houses that were not built, re-inspection fees for
houses that were in the process of being built and bonds for
street, driveway and sidewalk work, according to a report by
Kenosha News.

Neumann Homes' initial estimate of what was owed to it was about
$55,000.  Kenosha City, however, conducted its own review of what
was owed to Neumann Homes and estimated the costs at about
$35,000, the news report noted.

"We went through with a fine tooth comb and we kept some of the
money because we did expend effort for some plan reviews,"
Kenosha News quoted Mr. Antaramian as saying.  He further said
that The Kenosha Water Utility will also pay back some fees to
Neumann Homes.

The Court will hold a hearing on February 17, 2010, to consider
approval of the Settlement Agreements.  Deadline for filing
objections is February 12, 2010.

                       About Neumann Homes

Headquartered in Warrenville, Illinois, Neumann Homes Inc. --
http://www.neumannhomes.com/-- develops and builds residential
real estate throughout the Midwest and West US.  The company is
active in the Chicago area, southeastern Wisconsin, Colorado, and
Michigan.  The Company has built more than 11,000 homes in some
150 residential communities.  The Company offers formal business
training to employees through classes, seminars, and computer-
based training.

The Company filed for Chapter 11 protection on November 1, 2007
(Bankr. N.D. Ill. Case No. 07-20412).  George Panagakis, Esq., at
Skadded, Arps, Slate, Meagher & Flom L.L.P., was selected by the
Debtors to represent them in these cases.  The Official Committee
of Unsecured Creditors has selected Paul, Hastings, Janofsky &
Walker LLP, as its counsel in these bankruptcy proceeding.  When
the Debtors filed for protection from its creditors, they listed
assets and debts of more than $100 million.

(Neumann Bankruptcy News; Bankruptcy Creditors' Services Inc.
http://bankrupt.com/newsstand/or 215/945-7000)


NEUMANN HOMES: Seeks Confirmation of Liquidation Plan
-----------------------------------------------------
Neumann Homes Inc. and its affiliated debtors ask the U.S.
Bankruptcy Court for the Northern District of Illinois to confirm
their joint plan of liquidation.

The Debtors aver that the Liquidation Plan represents the
culmination of their extensive efforts and those of the concerned
parties to reach a fair and equitable resolution of various
issues concerning their Chapter 11 cases.

"Those efforts have resulted in a Plan that maximizes value and
potential recoveries for the Debtors' creditors," George
Panagakis, Esq., at Skadden Arps Slate Meagher & Flom LLP, in
Chicago, Illinois, counsel to the Debtors, says in court papers.

The Plan has been "well received," according to Mr. Panagakis.
Majority of the class of creditors holding general unsecured
claims, the only class entitled to vote on the Plan, voted to
accept the Plan, he notes.

A report on the Plan voting results prepared by Epiq Bankruptcy
Solutions LLC, the Debtors' solicitation agent, shows that 86.32%
of the Debtors' general unsecured creditors accepted the Plan
while only 13.68% voted to reject the Plan.

Copies of a report on the Tabulation Results and a report of all
votes included in the tabulation are available without charge at:

   http://bankrupt.com/misc/Neumann_FinalVoteTabulation.pdf
   http://bankrupt.com/misc/Neumann_ReportVotes.pdf

Mr. Panagakis also informs the Court that the Debtors have
resolved some of the plan objections and are currently engaged in
talks to settle the remaining plan objections.

The plan objections were filed by a group of lenders, government
agencies, municipalities and the U.S. Trustee for Region 11 to
ensure that the Plan will not prejudice their rights on real
properties that have been or will be disposed of by the Debtors,
and to preserve their right to be heard at the confirmation
hearing, among other things.

The Debtors have already resolved the objections lodged by
IndyMac Ventures LLC and Bank of America N.A.; they are still
seeking to negotiate proposed modified Plan language to settle
the objections of Comerica Bank and Compass Bank, according to
Mr. Panagakis.

In response to the objections raised by The Illinois Department
of Revenue, the Douglas County Treasurer and the U.S. Trustee,
the Debtors have proposed modifications to the Plan that resolve
most, if not all, of the issues raised by the parties, Mr.
Panagakis adds.  The government agencies each filed objections
identifying certain Plan drafting omissions regarding the
treatment of tax claims and seeking clarification on some
statutory requirements.  The U.S. Trustee, meanwhile, complained
about the inconsistency of the provisions in the Plan with
respect to the discharge of claims against the Debtors.

Moreover, the Debtors relate that they are currently in talks
with Wells Fargo Bank N.A. and the local officials of the
municipalities of Antioch, Wonder Lake and Gilberts to settle
certain plan objections.

"As plainly evidenced by the highly favorable results of the Plan
voting and the paucity of objections filed in large and complex
chapter 11 cases such as these, the Plan is in the best interests
of the Debtors' estates, creditors and other stakeholders," Mr.
Panagakis tells the Court.

Paul Andrews, chief restructuring officer of Neumann Homes, says
that proposed liquidation of Neumann Homes under Chapter 11 of
the Bankruptcy Code is more beneficial to the creditors than a
liquidation under Chapter 7.

"The Plan allows the Debtors' remaining assets to be efficiently
administered and grants the liquidation trust administrator the
right to object to claims and to pursue claims and causes of
action of the Debtors and their estates," Mr. Andrews avers in a
declaration filed in Court.

The Debtors' estates, Mr. Andrews point out, would incur the
costs of payment of a statutorily allowed commission to the
Chapter 7 trustee and the costs of counsel and other
professionals retained by the trustee if their bankruptcy cases
would be converted to proceedings under Chapter 7 of the
Bankruptcy Code.  "The Debtors believe such amount would exceed
the amount of expenses that would be incurred in implementing the
Plan and winding up the[ir] affairs," he points out.

Conversion would also likely delay the liquidation process and
the distribution to unsecured creditors considering the time and
expense it would take to provide for an orderly transition to a
Chapter 7 trustee, according to Mr. Andrews.

No other viable alternative that would allow the Debtors to
emerge from Chapter 11 with the recoveries equal to or greater
than those projected for creditors under their proposed Chapter
11 Plan, Mr. Andrew relates.

The Debtors also filed in Court a copy of their proposed order
confirming their Joint Plan of Liquidation, a copy of which can
be obtained for free at:

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

The Confirmation Hearing in the Debtors' cases was suppose to
have commenced last January 27, 2010.  No further developments on
the matter have been made available in the Court dockets as of
press time.

                       About Neumann Homes

Headquartered in Warrenville, Illinois, Neumann Homes Inc. --
http://www.neumannhomes.com/-- develops and builds residential
real estate throughout the Midwest and West US.  The company is
active in the Chicago area, southeastern Wisconsin, Colorado, and
Michigan.  The Company has built more than 11,000 homes in some
150 residential communities.  The Company offers formal business
training to employees through classes, seminars, and computer-
based training.

The Company filed for Chapter 11 protection on November 1, 2007
(Bankr. N.D. Ill. Case No. 07-20412).  George Panagakis, Esq., at
Skadded, Arps, Slate, Meagher & Flom L.L.P., was selected by the
Debtors to represent them in these cases.  The Official Committee
of Unsecured Creditors has selected Paul, Hastings, Janofsky &
Walker LLP, as its counsel in these bankruptcy proceeding.  When
the Debtors filed for protection from its creditors, they listed
assets and debts of more than $100 million.

(Neumann Bankruptcy News; Bankruptcy Creditors' Services Inc.
http://bankrupt.com/newsstand/or 215/945-7000)


NFR ENERGY: Moody's Assigns Corporate Family Rating at 'B3'
-----------------------------------------------------------
Moody's Investors Service assigned NFR Energy LLC a B3 Corporate
Family Rating and a Caa1 rating to its offering of $250 million
senior notes due 2017.  The proceeds from the notes issuance will
be used to repay a $50 million second lien term loan facility and
outstanding borrowings on its senior secured revolving credit
facility.  The rating outlook is stable.

"NFR's ratings reflect its high concentration in East Texas and
its current production and developed reserves size which is small
relative to similarly rated E&P companies," commented Pete Speer,
Moody's Vice President.  "However, the company's credit profile is
supported by its comparatively low leverage and competitive cost
structure."

NFR is an exploration and production company jointly owned by
subsidiaries of Nabors Industries Ltd. and private equity funds
advised by First Reserve Corporation.  The company's property base
is concentrated in natural gas in the Cotton Valley Sand and
Haynesville Shale formations in East Texas, accounting for
approximately 81% of production and 95% of total proved reserves.
The remaining production and reserves are located in the Bear Paws
Uplift in Montana and Uinta Basin in Utah, and the company holds
acreage in the Bakken Shale in North Dakota.

The B3 CFR reflects NFR being at an early stage in its
development, with production and proved developed reserves volumes
that are smaller than most B3-rated peers, and limited geographic
diversification.  The company's total proved reserves at year end
are estimated to be approximately 1,002 Bcfe using the new SEC
rules, which demonstrates the potential of its acreage.  However,
the very high proportion of proved undeveloped reserves will
require an estimated $1.3 billion of additional capital investment
to bring those reserves to production.

The company's low leverage compared to similarly rated peers,
experienced management team and competitive costs to date support
the B3 CFR.  NFR has a limited track record developing its core
Cotton Valley and Haynesville acreage.  The company plans to
continue its rapid production growth, which will require
significant additional borrowings over the coming years.  In order
for the company to maintain leverage metrics at current levels,
the production response from capital investment will need to meet
the company's forecasts.

NFR has hedged a high proportion of its forecasted 2010 and 2011
production at prices meaningfully above current spot prices, which
supports its cash flows to partially fund its capital
expenditures.  Following the notes offering the company expects to
have approximately $175 million of availability under its senior
secured revolving credit facility, which should provide sufficient
borrowing capacity to fund its planned 2010 capital expenditures
while maintaining adequate liquidity over the remainder of this
year.

The Caa1 senior unsecured notes rating reflects both the overall
probability of default of NFR, to which Moody's assigns a PDR of
B3, and a loss given default of LGD 5 (74%).  Following the notes
issuance the company expects to have at least a $200 million
borrowing base under its $400 million senior secured revolving
credit facility.  The senior secured credit facility will have a
priority claim to substantially all of the company's assets and
therefore the senior unsecured notes are notched one rating
beneath the B3 CFR under Moody's Loss Given Default Methodology.

This is the initial rating action on NFR.

NFR Energy LLC is a privately held independent exploration and
production company based in Houston, Texas.


OAKWOOD COUNTRY: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Oakwood Country Club, Incorporated
        3409 Rivermont Ave.
        Lynchburg, VA 24503

Bankruptcy Case No.: 10-60246

Chapter 11 Petition Date: January 29, 2010

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

Judge: William E. Anderson

Debtor's Counsel: Benjamin Webb King, Esq.
                  Woods Rogers Hazlegrove
                  P.O. Box 14125
                  Roanoke, VA 24038
                  Tel: (540) 983-7586
                  Email: wking@woodsrogers.com

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

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

A list of the Company's 20 largest unsecured creditors is
available for free at:

             http://bankrupt.com/misc/vawb10-60246.pdf

The petition was signed by William W. Martin, president of the
company.


ORLEANS HOMEBUILDERS: Amends Revolving Credit Loan Agreement
------------------------------------------------------------
Orleans Homebuilders, Inc., announced that on January 25,
2010, the Company executed a third limited waiver letter to its
$375 million Second Amended and Restated Revolving Credit Loan
Agreement dated September 30, 2008.  This Waiver Letter
effectively amends the definition of "Borrowing Base Availability"
to reflect the borrowing base certificate filed on December 15,
2009 (as of November 30, 2009) throughout the Third Limited Waiver
Extension period.  In addition, under the terms of the Waiver
Letter, the Credit Facility size was reduced from $375 million to
$350 million, the maximum cash covenant was reduced from
$12 million to $10 million, and the lenders were granted a
security interest in certain additional collateral.  Lenders
holding approximately 68% of the commitments under the Credit
Facility approved the Waiver Letter.  In addition, on January 29,
2010, the waiver period provided for in the "Second Amendment
Extension Letter" dated December 18, 2009, was extended to
February 12, 2010, but such period remains subject to potential
earlier termination as a result of certain events.

The Company continues to work actively with members of its bank
lending group to obtain a maturity extension to its Credit
Facility.  As previously announced, on December 8, 2009, the
Company and certain of its lenders agreed to a non-binding term
sheet relating to a maturity extension and structural
modifications of the Credit Facility.

The Amendment generally contemplates significant structural and
covenant changes to the Credit Facility, including a maturity
extension to December 2011; the granting of additional collateral;
certain material step-down requirements in the size of the Credit
Facility which principal step-downs are generally coincidental
with the required material land asset sales over the next six to
18 months, with the application of the net proceeds from the
build-out and sale of work-in-process housing units over the next
approximately nine months in certain of the communities that may
be sold without the construction of new spec units in these
specific locations, and future federal tax refunds.  The
anticipated asset sales may include substantially all of the
Company's undeveloped land positions as well as certain other
positions, which are to be sold, over up to the next 18 months,
but primarily over the next 12 months.  The Amendment is also
expected to prohibit future site improvement expenditures related
to these designated land positions; limit significantly the
acquisition of new lots and land; and enable completion of
existing work-in-process housing inventory units in many of such
communities without new spec unit starts in certain specific
locations.  It is anticipated that the Amendment will also
prohibit the construction of new work-in-process housing units in
all communities approximately six to eight months prior to the new
December 2011 maturity date.  The Company currently expects that
such asset sales will result in material financial losses, both
relative to book value reflected on the March 31, 2009 Quarterly
Report on Form 10-Q (the latest financial statements that the
Company has filed with the SEC) and to existing bank borrowing
base value, respectively, of such assets.  The Amendment provides
for a potential significant principal reduction or debt
forgiveness by the lenders if the Company can either retire or
refinance the entire restructured Credit Facility, or if the
Company can recapitalize or sell the Company primarily within the
next six to 12 months following the ultimate closing date of the
Amendment, although realization of any principal reduction or debt
forgiveness is subject to significant conditions, including
recapture by lenders, as to which the Company can offer no
assurance of satisfaction.  The Company believes that the
Amendment should provide the Company with adequate liquidity to
continue its operations in the near term, but generally not beyond
approximately six to 12 months beyond the closing date of the
facility under this Term Sheet, if any.

The Company continues to pursue other strategic alternatives
including a potential sale or recapitalization of the Company, and
has presented potential transaction alternatives to its lending
group.  There can be no assurance that the Company will be able to
consummate any transaction on terms acceptable to it, and any such
transaction may provide little or no value for either the
Company's unsecured creditors or equity holders, or may result in
substantial dilution to the Company's equity holders.

The Amendment, or any other modification of or accommodation under
the Credit Facility beyond February 12, 2010, will be subject to
an affirmative vote by each of the approximately 17 lenders party
to the Credit Facility and the Company can offer no assurances
that each of the lenders will approve the Amendment or any other
modification of or accommodation, or as to the specific terms of
the documentation that may be approved.  If the Company does not
enter into the Amendment or any other modification of or
accommodation under the Credit Facility on or before approximately
February 12, 2010, or thereabouts, the Credit Facility will mature
on such date and the Company will not have sufficient funds to
repay amounts outstanding or continue normal operations.

For additional discussion of the Company's liquidity, please refer
to the "Liquidity and Net Debt" section below, the Liquidity and
Capital Resources section of the Company's Quarterly Report on
Form 10-Q for the quarter ended March 31, 2009, filed with the
Securities and Exchange Commission on May 15, 2009, as well as the
Current Reports on Form 8-K and press releases filed with the
Securities and Exchange Commission on August 14, 2009, October 6,
2009, November 5, 2009, December 9, 2009, and December 23, 2009.

The Company has not made the September 30, 2009 or December 30,
2009 interest payments of $639,000 each on its $30 million of
8.52% Trust Preferred Securities.  Similarly, the Company did not
make the $235,000 payment due on January 30, 2010, under the
Junior Subordinated Notes issued under the exchange agreement
completed on August 3, 2009.

                 About Orleans Homebuilders, Inc.

Orleans Homebuilders, Inc. -- http://www.orleanshomes.com/--
develops, builds and markets high-quality single-family homes,
townhouses and condominiums.  The Company serves a broad customer
base including first-time, move-up, luxury, empty nester and
active adult homebuyers.  The Company currently operates in the
following eleven distinct markets: Southeastern Pennsylvania;
Central and Southern New Jersey; Orange County, New York;
Charlotte, Raleigh and Greensboro, North Carolina; Richmond and
Tidewater, Virginia; Chicago, Illinois; and Orlando, Florida.  The
Company's Charlotte, North Carolina operations also include
adjacent counties in South Carolina.


PALM SPRINGS: Case Summary & Unsecured Creditor
-----------------------------------------------
Debtor: Palm Springs Enterprises, LLC
        369 N Palm Canyon Dr
        Palm Springs, CA 92262

Bankruptcy Case No.: 10-11838

Chapter 11 Petition Date: January 25, 2010

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

Debtor's Counsel: Gene E O'Brien, Esq.
                  Law Office of Gene E O'Brien
                  74040 Hwy 111 #210
                  Palm Desert, CA 92260
                  Tel: (760) 340-5200
                  Fax: (760) 340-5233
                  Email: geneeob@aol.com

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

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

According to the schedules, the Company has assets of $4,000,000
and total debts of $1,622,000.

The Debtor identified Bank of America with a line of credit debt
claim for $250,000 as its largest unsecured creditor. A full-text
copy of the Debtor's petition, including a list of its largest
unsecured creditor, is available for free at:

             http://bankrupt.com/misc/cacb10-11838.pdf

The petition was signed by George Kessinger, managing member of
the Company.


PARALLEL CONSTRUCTION: Voluntary Chapter 11 Case Summary
--------------------------------------------------------
Debtor: Parallel Construction, Ltd.
        96 Duncan Ave
        Jersey City, NJ 07306

Bankruptcy Case No.: 10-12401

Chapter 11 Petition Date: January 28, 2010

Court: United States Bankruptcy Court
       District of New Jersey (Newark)

Debtor's Counsel: John M. August, Esq.
                  Herrick, Feinstein LLP
                  One Gateway Center, 22nd Floor
                  Newark, NJ 07102
                  Tel: (973) 274-2529
                  Email: jaugust@herrick.com

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

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

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

The petition was signed by Adlai Souirgi.


PARKLANE PLAZA: Updated Case Summary & Unsecured Creditor
---------------------------------------------------------
Debtor: Parklane Plaza, LLC
        PO Box 2646
        Kearney, NE 68848

Bankruptcy Case No.: 10-40230

Chapter 11 Petition Date: January 29, 2010

Court: United States Bankruptcy Court
       District of Nebraska (Lincoln Office)

Debtor's Counsel: Galen E. Stehlik, Esq.
                  Lauritsen, Brownell, Brostrom, Stehlik
                  724 W. Koenig
                  P.O. Box 400
                  Grand Island, NE 68802
                  Tel: (308) 382-8010
                  Fax: (308) 382-8018
                  Email: galens@lauritsenlaw.com

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

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

The Debtor identified Buffalo County Treasurer with a claim for
$40,000 as its largest unsecured creditor. A list of the Company's
largest unsecured creditor is available for free at:

              http://bankrupt.com/misc/neb10-40230.pdf

The petition was signed by Erica Sikes.


PATIENT SAFETY: Names Bauer and Hitchcock to Board of Directors
---------------------------------------------------------------
Patient Safety Technologies Inc. appointed Eugene A. Bauer, MD and
William M. Hitchcock to its Board of Directors.

Dr. Bauer is President & Chief Medical Officer and immediate past
member of the Board of Directors of Peplin, Inc., a dermatology
company that was, until recently, traded on the ASX in Australia.
In 2009, Peplin was acquired by LEO Pharma of Denmark and is now
privately held.  From 2004 to 2008, Dr. Bauer was Chief Executive
Officer and board member of Neosil Inc., a privately held
biotechnology company that was acquired by Peplin in 2008.  Dr.
Bauer currently serves on the Board of Medgenics, Inc., (LSE/AIM:
MEDG) and from 2004-2008, served as a Director of Modigene, Inc.

Mr. Hitchcock is president of Pembroke Capital LLC, a private
investment partnership.  He was a co-founder of Plains Resources
Inc. and Chairman from 1981 through 1992.  Mr. Hitchcock remained
on the Plains Resources board until 2004.  Mr. Hitchcock has
served on a number of public company boards, including Thoratec
Corporation, Maxx Petroleum, International Colin Energy, and
Oshman's Inc.

"We are extremely fortunate to have persons of this caliber join
our team at Patient Safety Technologies" said Steven H. Kane,
President and Chief Executive Officer.  "Dr. Bauer brings a wealth
of knowledge and expertise in the health care arena to the
Company.  His background as physician, educator, administrator and
entrepreneur, enables him to be a valuable contributor to the
strategic direction of the Company."   Mr. Kane added, "Mr.
Hitchcock's vast experience as a director of public companies,
including his experience as a Director with Thoratec Corporation,
a medical device manufacturer, makes him a valuable addition to
our board".

Howard E. Chase, Chairman of the Company's Board, added: "Dr.
Bauer's prominence in the world of hospital system management and
administration and his board and management experience with public
medical technology companies make him an ideal board member.  Mr.
Hitchcock's broad experience in the securities industry and as a
senior executive and board member of public corporations adds
great value and perspective to our board.  We are fortunate to
have them both."

                 About Patient Safety Technologies

Patient Safety Technologies, Inc. (OTC: PSTX) --
http://www.surgicountmedical.com/-- through its wholly owned
operating subsidiary SurgiCount Medical, Inc., provides the
Safety-Sponge(TM) System, a system designed to improve the
standard of patient care and reduce health care costs by
preventing the occurrence of surgical sponges and other retained
foreign objects from being left inside patients after surgery.
RFOs are among one of the most common surgical errors.

At September 30, 2009, the Company had $8,297,000 in total assets
against $10,190,000 in total liabilities, resulting in
stockholders' deficit of $1,893,000.  The September 30 balance
sheet showed strained liquidity: The Company had $1,893,000 in
total current assets against $7,590,000 in total current
liabilities.

At September 30, 2009, the Company had an accumulated deficit of
roughly $53.3 million and a working capital deficit of roughly
$5.7 million, of which $2.4 million represents the estimated fair
value of warrant derivative liabilities.  For the three and nine
months ended September 30, 2009, the Company incurred net losses
of roughly $3.4 and $10.8 million, respectively.  For the nine
months ended September 30, 2009 the Company used roughly
$3.6 million in cash to fund its operating activities.

The Company believes that existing cash resources, combined with
projected cash flow from operations, will not be sufficient to
fund its working capital requirement for the next 12 months.  To
continue to operate as a going concern it will be necessary to
raise additional capital.


PETER CASSON: Case Summary & 19 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Peter J. Casson
        811 Hawthorne Place
        Lake Forest, IL 60045

Bankruptcy Case No.: 10-03417

Chapter 11 Petition Date: January 29, 2010

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

Judge: John H. Squires

Debtor's Counsel: Joseph A. Baldi, Esq.
                  Joseph Baldi & Associates
                  19 S Lasalle Street, Suite 1500
                  Chicago, IL 60603
                  Tel: (312) 726-8150
                  Fax: (312) 332-4629
                  Email: jabaldi@ameritech.net

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

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

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

             http://bankrupt.com/misc/ilnb10-03417.pdf

The petition was signed by Mr. Casson.


PETER POCKLINGTON: Has Tentative Deal Over Seized Assets
--------------------------------------------------------
Darcy Henton at Canwest News Service reports that U.S. bankruptcy
trustee Robert Whitmore said Peter Pocklington, his wife Eva and
their creditors have agreed on a procedure for divvying up
property seized from the couple's home in 2008.  According to Mr.
Henton, a tentative deal reached between the Pocklingtons and a
bankruptcy trustee over items seized from the couple's California
home will see them relinquish Andy Warhol prints, Stanley Cup
rings and a host of other items, lawyers and creditors said on
Thursday.

Peter Pocklington is the former owner of the Edmonton Oilers of
the National Hockey League.  He declared bankruptcy in 2008,
citing assets of $2,900 and liabilities of $19.7 million.

Mr. Henton says Mr. Pocklington was subsequently charged with two
counts of bankruptcy fraud for allegedly hiding assets from the
U.S. Bankruptcy Court and faces trial in California on March 9.

Mr. Henton relates the U.S. attorney alleges Mr. Pocklington
failed to report two offshore accounts and property he kept in two
storage facilities near his residence in Palm Desert, California.

According to Mr. Henton, David Casselman, Esq., a lawyer who
represents several creditors including the Alberta government,
said Eva Pocklington will be allowed to keep such personal items
as coats, purses and jewelry, but the bulk of the seized goods,
the Warhol prints and the property later located by the FBI in the
storage facilities, will be turned over to the trustee.

The deal doesn't include Pocklington's $800,000 home in Indian
Wells, Calif., Mr. Casselman added, according to Mr. Henton.

According to Mr. Henton, Mr. Casselman said it is difficult to
determine how much of the $12 million the Alberta government
claims Mr. Pocklington owes will be recovered.  The debt stems
from a $2 million loan made to Mr. Pocklington's meat-packing
company Gainers in 1988.


PLIANT CORP: 2008 Balance Sheet Upside-down by $513 Million
-----------------------------------------------------------
Pliant Corporation said it has $532,480,000 in total assets and
1,046,194,000 in total liabilities resulting to a stockholders'
deficit of $513,714,000 as of Dec. 31, 2008.

The Company recorded a net loss of $217,194,000 on net sales of
$1,127,649,000 for the year ended Dec. 31, 2008, compared with a
$11,484,000 net loss on net sales of $1,096,924,000 for the same
period a year earlier.

A full-text copy of consolidated financial statements is available
for free at http://ResearchArchives.com/t/s?4fb9

                        About Pliant Corp

Headquartered in Schaumburg, Illinois, Pliant Corporation produces
value-added film and flexible packaging products for personal
care, medical, food, industrial and agricultural markets.  Pliant
operates 16 manufacturing facilities around the world, and employs
approximately 2,800 people with annual net sales of $900 million
for the 12 months ended September 30, 2009.  Barclays Capital
acted as the exclusive financial advisor to Apollo Management,
Graham Partners and Berry Plastics in conjunction with the Pliant
restructuring process.

Pliant and 10 of its affiliates filed for Chapter 11 protection on
January 3, 2006 (Bankr. D. Del. Lead Case No. 06-10001).  James F.
Conlan, Esq., at Sidley Austin LLP, and Edmon L. Morton, Esq., and
Robert S. Brady, Esq., at Young, Conaway, Stargatt & Taylor,
represented the Debtors in their restructuring efforts.  The
Debtors tapped McMillan Binch Mendelsohn LLP, as Canadian counsel.
As of September 30, 2005, the Company had $604.3 million in total
assets and  $1.19 billion in total debts.  The Debtors emerged
from Chapter 11 on July 19, 2006.

Pliant Corp. and its affiliates again filed for Chapter 11 after
reaching terms of a pre-packaged restructuring plan.  The
voluntary petitions were filed February 11, 2009 (Bank. D. Del.
Case Nos. 09-10443 through 09-10451).  The Hon. Mary F. Walrath
presides over the cases.  Jessica C.K. Boelter, Esq., at Sidley
Austin LLP, in Chicago, Illinois, and Edmon L. Morton, Esq., at
Robert S. Brady, Esq., at Young Conaway Stargatt & Taylor, LLP, in
Wilmington, Delaware, provide bankruptcy counsel to the Debtors.
Epiq Bankruptcy Solutions LLC acts as claims and noticing agent.
The U.S. Trustee for Region 3 appointed five creditors to serve on
an official committee of unsecured creditors.  The Creditors
Committee selected Lowenstein Sandler PC as its counsel.  As of
September 30, 2008, the Debtors had $688.6 million in total assets
and $1.03 billion in total debts.


PMB PROPERTY: Case Summary & 2 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: PMB Property Management, Inc.
        1160 Joe Battle
        El Paso, TX 79936

Bankruptcy Case No.: 10-30180

Chapter 11 Petition Date: January 29, 2010

Court: United States Bankruptcy Court
       Western District of Texas (El Paso)

Judge: Bankruptcy Judge Leif M. Clark

Debtor's Counsel: T. Barrett Wood, Esq.
                  Law Offices of T. Barrett Wood, P.C.
                  303 Texas Avenue, Ninth Floor
                  El Paso, TX 79901
                  Tel: (915) 533-1133
                  Fax: (915) 532-0904
                  Email: barrett@bwoodlaw.com

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

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

According to the schedules, the Company has assets of $1,867,316,
and total debts of $3,223,695.

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

             http://bankrupt.com/misc/txwb10-30180.pdf

The petition was signed by Keith Boyd, president of the Company.


PROWLER GROUP: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: The Prowler Group, Inc.
          dba AW Fleet Service
        PO Box 161565
        Fort Worth, TX 76161

Bankruptcy Case No.: 10-40609

Chapter 11 Petition Date: January 29, 2010

Court: United States Bankruptcy Court
       Northern District of Texas (Ft. Worth)

Judge: D. Michael Lynn

Debtor's Counsel: Marguerite Miller Kirk, Esq.
                  2000 E. Lamar, Suite 600
                  Arlington, TX 76006
                  Tel: (817) 354-4900
                  Email: kirkm@sbcglobal.net

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

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

According to the schedules, the Company has assets of $1,065,290,
and total debts of $1,323,667.

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

            http://bankrupt.com/misc/txnb10-40609.pdf

The petition was signed by Gary Wages, president/director of the
Company.


RAPID LINK: Delays Filing of Form 10-K for Fiscal 2009
------------------------------------------------------
Rapid Link Incorporated said it cannot file its Form 10-K for
the period ending October 31, 2009, in a timely manner without
unreasonable effort and expense due to an unforeseen change in the
company's auditing firm, as well as a personnel change of the
company's primary accounting officer.

Rapid Link, Incorporated, and its subsidiaries have served as
facilities-based, communication companies providing various forms
of voice and data services to customers around the world.  Rapid
Link provides a multitude of communication services targeted to
small and medium sized businesses, as well as individual
consumers.  These services include the transmission of voice and
data traffic over public and private networks.  The Company also
sells foreign and domestic termination of voice traffic into the
wholesale market.

                        Going Concern Doubt

On Jan. 27, 2009, KBA GROUP LLP in Dallas, Texas, expressed
substantial doubt about Rapid Link, Incorporated's ability to
continue as a going concern after auditing the Company's financial
statements for the fiscal years ended Oct. 31, 2008, and 2007.
The auditor noted that the Company suffered recurring losses from
continuing operations during each of the last two fiscal years.
Additionally, at Oct. 31, 2008, the Company's current liabilities
exceeded its current assets by $2,100,000 and the Company has a
shareholders' deficit totaling $2,900,000.


READER'S DIGEST: UK Pension Issue Stalls Firm's Ch. 11 Exit
-----------------------------------------------------------
The Reader's Digest Association Inc. said Monday it had decided to
temporarily delay its emergence from Chapter 11 to address its
U.K. unit's pension fund deficit, according to Law360.

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)


REGENCY ENERGY: Moody's Affirms 'Ba3' Corporate Family Rating
-------------------------------------------------------------
Moody's Investors Service affirmed Regency Energy Partners LP's
ratings and changed the rating outlook to stable from negative.
Ratings affirmed include Regency's Ba3 Corporate Family Rating,
Ba3 Probability of Default Rating, SGL-3 Speculative Grade
Liquidity Rating, and B1 (LGD 5, 80%, changed from 81%) ratings on
its senior unsecured notes.

"The ratings affirmation and stable outlook reflect Regency's
success in completing its Haynesville expansion project under
budget and reasonably close to its scheduled completion date,"
commented Gretchen French, Moody's Assistant Vice President.  "In
addition, the stable outlook reflects the company's track record
to date in issuing equity, and management's commitment to issuing
additional equity."

Moody's had maintained a negative outlook on Regency's ratings
primarily due to execution risk associated with the expansion of
its North Louisiana intrastate gas pipeline, Regency Intrastate
Gas, to bring natural gas from the Haynesville Shale to market.
On January 27, the pipeline expansion was put into service, about
a month behind its scheduled completion date but modestly under
its $650 million budget.  The RIGS expansion represented Regency's
largest project to date by several-fold.  Regency was successful
in both conservatively financing the project as well as mitigating
the risk of increased construction costs.  In March 2009, Regency
formed a joint venture with Alinda Capital Partners LLC and
General Electric Capital Corporation in which Regency exchanged
62% of the stable fee based earnings and cash flows from the
existing RIGS system in exchange for the joint venture partners
funding the system expansion and Regency receiving a 38% stake in
the venture.  To date, debt at the joint venture is limited to a
$25 million working capital facility.

The completion of the RIGS expansion positively impacts Regency's
overall business risk profile.  The long-term transportation
contracts underpinning the project will increase Regency's
proportion of fee-based volumes and reduce its exposure to more
volatile natural gas processing.  RIGS has benefited from its
early mover advantage in the region, with the expanded capacity
fully contracted under 10-year firm transportation contracts.
However, Moody's note that the shippers are primarily concentrated
among non-investment grade rated exploration and production
companies.  In addition, over the longer term the pipeline faces
the risk of a number of competing pipeline projects and the
sustainability of capital spending growth and production growth in
the emerging Haynesville Shale.

Moody's anticipates that the joint venture will pursue additional
growth projects in the Haynesville Shale and that this growth will
be debt funded.  However, the stable rating outlook assumes that
financial leverage levels at the joint venture will be
conservative.  In addition, Moody's expect that Regency will look
to buyout GE's remaining interest in the joint venture over the
near to medium term.  In September, 2009, Regency bought out 5% of
GE's interest in the joint venture for $63 million, which it
funded with the issuance of convertible preferred units (50%
equity treatment).

The ratings affirmation and stable outlook also consider Regency's
ownership by GE and its track record to date in issuing equity
under GE's sponsorship, including the company's recent
$250 million equity issuance in December 2009, proceeds of which
were used to reduce revolver drawings.  Regency's pro forma
debt/EBITDA, as adjusted for Moody's adjustments, for the last
twelve months ending September 30, 2009 improved to approximately
4.6x from 5.6x as a result of the debt reduction.

However, Moody's notes that financial leverage levels could become
somewhat elevated over the near-term, as the company pursues
growth projects in its gathering and processing business in the
Haynesville Shale and to a lesser extent in the Eagle Ford Shale,
as well as expansion projects by its RIGS joint venture.  While
the credit benefits of the completed RIGS expansion help to
somewhat mitigate the potential for increased leverage, equity
will continue to need to be issued upfront and on a regular basis
in order to maintain the Ba3 rating and stable outlook.

Furthermore, Moody's note that while Regency's recent operating
performance has been in line with expectations despite volume
declines in certain regions, its distribution coverage has been
weak and is expected to remain fairly weak in 2010.  Regency has
held distributions flat over the past year, and the stable outlook
assumes that management will maintain conservative distribution
policies.

Regency's ratings could face negative pressure due to weaker than
expected operating performance, sustained elevated financial
leverage (debt/EBITDA over 5.0x) or weakened liquidity.
Conversely, the ratings could be positively impacted by increased
growth of fee-based income and the maintenance of debt/EBITDA in
the 4.0x range.

The last rating action on Regency was on May 14, 2009, when
Moody's affirmed the company's ratings at Ba3 with a negative
outlook.

Headquartered in Dallas, Texas, Regency Energy Partners LP is a
publicly traded master limited partnership engaged in natural gas
gathering, processing, contract compression and transportation.


RENT-A-LIFT: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Rent-A-Lift, Inc.
        23588 Hwy 64 E
        Troup, TX 75789

Bankruptcy Case No.: 10-60102

Chapter 11 Petition Date: January 29, 2010

Court: United States Bankruptcy Court
       Eastern District of Texas (Tyler)

Debtor's Counsel: J. Bennett White, Esq.
                  P.O. Box 6250
                  Tyler, TX 75711
                  Tel: (903) 597-4300
                  Fax: (903) 597-4330
                  Email: jbw@jbwlawfirm.com

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

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

A list of the Company's 20 largest unsecured creditors is
available for free at:

            http://bankrupt.com/misc/txeb10-60102.pdf

The petition was signed by Carlton E. Thompson, president of the
company.


R.H. DONNELLEY: Emerges From Chapter 11
---------------------------------------
R.H. Donnelley has successfully emerged from its Chapter 11
restructuring as Dex One Corporation and will begin trading on
the New York Stock Exchange today under the ticker "DEXO," with
50 million shares outstanding.

"Today marks a new chapter in our company's history," said David
C. Swanson, chairman and CEO of Dex One Corporation.  "We
completed a very complex restructuring in less than a year,
eliminating more than $6 billion in debt and approximately
$500 million in annual interest expense.  We strengthened our
capital structure while continuing to help our clients -- local
businesses -- sustain and grow their operations.  And we re-
launched our company to capitalize on our highly-recognizable
'Dex' go-to-market brand and product portfolio."

The new Dex One Corporation will build upon its legacy of
delivering media products and marketing services that help local
businesses get found and selected by active shoppers.  The company
will continue to offer its "Dex" branded suite of products
including online and mobile search solutions, print yellow pages
directories, voice-search platforms and pay-per-click networks.

"We selected the Dex One name because it clearly communicates who
we are and what we do -- Dex, your trusted marketing partner for
over a hundred years, and now, your One stop shop for getting your
business exposed to active buying consumers whether they're
searching our robust suite of Dex products or on other major
search sites or search engines.  We believe Dex One Corporation
clearly highlights our category leadership and our premium
position," Mr. Swanson added.

The company's plan of reorganization was confirmed Jan. 12 by the
Hon. Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware after more than 96 percent of creditors by amount who
cast ballots voted in favor of confirmation.  The plan became
effective on Jan. 29. Distributions to creditors have already
begun.

"Throughout this process, we knew it was critical for the business
to continue as usual so that our valued clients would continue to
receive the service and commitment from the company they had come
to expect," Swanson said.  "Achieving that goal is one of our
proudest accomplishments."

As previously announced, the company filed a voluntary petition
for relief under Chapter 11 on May 28, 2009, after reaching pre-
arranged agreements with certain creditor groups, including bank
lenders and noteholders.

Also, the Company announced its new Board of Directors:

David C. Swanson, Chairman of the Board - Swanson has been CEO of
Dex One (formerly R.H. Donnelley) since May 2002 and originally
joined the company in 1985.

W. Kirk Liddell, Lead Director, has served as President, CEO and
Director of Irex Corporation, a parent service corporation,
insurance company and affiliated group of 18 specialty contracting
companies, since 1984.

Jonathan B. Bulkeley has served as CEO of Scanbuy, Inc., a global
leader in visual navigation for the wireless industry, since 2006.
He also owns and operates the Blue Square Small Cap Value Fund, a
hedge fund investing in global small and micro cap equities.

Eugene I. Davis has served as Chairman and CEO of Pirinate
Consulting Group, L.L.C., a privately held consulting firm
specializing in, among other things, crisis and turn-around
management and strategic advisory services for public and private
business entities, since 1999.

Richard L. Kuersteiner has served in various capacities at
Franklin Resources, Inc., since 1990, including Director of
Restructuring, Managing Corporate Counsel and Associate General
Counsel.  He has served as an officer of virtually all of the
Franklin Templeton funds.

Mark A. McEachen has served as Chief Financial Officer of Freedom
Communications, Inc., a media company with broadcast television
and print publishing business segments, since May 2009.

Alan F. Schultz has been a Director of Dex One (formerly R.H.
Donnelley) since 2005.  He has served as Chairman, President and
CEO of Valassis Communications, Inc., a leader within the
marketing services and promotional media industries, since 1998.

                   About Dex One Corporation

Dex One Corporation /quotes/comstock/13*!dexo (DEXO 33.56, +2.17,
+6.91%) is a leading marketing services company that helps local
businesses reach, win and keep ready-to-buy customers. Our highly-
skilled, locally based marketing consultants offer a wide range of
marketing products and services that help businesses get found
more than 1.5 billion times each year by actively shopping
consumers.  We offer local businesses personalized marketing
consulting services and exposure across a broad network of local
marketing products -- including our "official" print, online and
mobile yellow pages and search solutions, as well as major search
engines.  For more information visit www.DexOne.com.

Certain statements contained in this press release regarding Dex
One Corporation's future operating results or performance or
business plans or prospects and any other statements not
constituting historical fact are "forward-looking statements"
subject to the safe harbor created by the Private Securities
Litigation Reform Act of 1995.  All forward-looking statements
reflect only Dex One's current beliefs and assumptions with
respect to future business plans, prospects, decisions and
results, and are based on information currently available to Dex
One.  Accordingly, the statements are subject to significant
risks, uncertainties and contingencies, which could cause Dex
One's actual operating results, performance or business plans or
prospects to differ materially from those expressed in, or implied
by, these statements.

                     About R.H. Donnelley

Based in Cary, North Carolina, R.H. Donnelley Corp., fka The Dun
& Bradstreet Corp. (OTC: RHDCQ) -- http://www.rhdonnelley.com/--
publishes and distributes print and online directories in the
U.S.  It offers print directory advertising products, such as
yellow pages and white pages directories.  R.H. Donnelley Inc.,
Dex Media, Inc. and Local Launch, Inc., are the company's only
direct wholly owned subsidiaries.

Dex Media East, LLC, is a publisher of the official yellow pages
and white pages directories for Qwest Communications International
Inc. (Qwest) in the states, where Qwest is the primary incumbent
local exchange carrier, such as Colorado, Iowa, Minnesota,
Nebraska, New Mexico, North Dakota and South Dakota.

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

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

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


RICKIE WALKER: Case Summary & 7 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Rickie Walker
        3830 Whitney Oaks Dr
        Rocklin, CA 95765

Bankruptcy Case No.: 10-21656

Chapter 11 Petition Date: January 25, 2010

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

Judge: Ronald H. Sargis

Debtor's Counsel: Mitchell L. Abdallah, Esq.
                  980 9th St 16th Fl
                  Sacramento, CA 95814
                  Tel: (916) 446-1974

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

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

According to the schedules, the Company has assets of $1,208,877,
and total debts of $2,302,785.

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

             http://bankrupt.com/misc/caeb10-21656.pdf

The petition was signed by Mr. Walker.


RIM DEVELOPMENT: Taps Adams Jones as Special Counsel
----------------------------------------------------
RIM Development, LLC, has asked for authorization from the U.S.
Bankruptcy Court for the District of Kansas to employ Adams Jones
Law Firm, P.A., as special counsel.

Adams Jones will, among other things, represent the Debtor in
eminent domain proceedings initiated by the Kansas Department of
Transportation regarding a portion of the Debtor's property in
Riley County and current subject to eminent domain.

Adams Jones proposes being compensated on a continent fee basis of
15% of the gross amount of any award in the eminent domain
proceeding at the administrative proceeding.  Adam Jones further
requests that should an appeal or further action be warranted, it
will separately negotiate a contract for the additional
representation and will seek court approval should Adams Jones and
the Debtor agree to the representation.  Expenses will be advanced
separately.

Bradley A. Stout and Kenneth G. Gale of Adams Jones assure the
Court that the firm is "disinterested" as that term is defined in
Section 101(14) of the Bankruptcy Code.

Textron Financial Corporation (TFC), a secured creditor of the
Debtor, has objected to the engagement of Adams Jones as special
counsel on a contingent fee basis of 15% of the gross amount of
any award in the eminent domain proceeding at the administrative
proceeding.  TFC says that since the award at the administrative
proceeding will be no less than $1,142,000, Debtor proposes a fee
of no less than $171,000, which can be "earned" by performing no
work whatsoever.

"The administrative hearing process in a Kansas eminent domain
proceeding is not a complex or time consuming process.  The
hearing is ordinarily concluded within 45 days of filing of the
petition.  There is no discovery process.  There are no unique
questions of law.  The primary work is performed by appraisers,
not attorneys.  The hearing to be held on January 25, 2010, was
scheduled to commence at 1:00 p.m. and conclude at 2:30 p.m.  The
proposed fee exceeds the reasonable value of the services.  The
condemnation award is the cash collateral of TFC and CoreFirst.
The application proposes to use this cash collateral without the
consent of TFC and without providing adequate protection to the
interests of TFC," TFC states.

TFC is represented by Armstrong Teasdale LLP.

Roca, Nebraska-based RIM Development, LLC, filed for Chapter 11
bankruptcy protection on January 22, 2010 (Bankr. D. Kan. Case No.
10-10132).  Susan G. Saidian, Esq., who has an office in Wichita,
Kansas, 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.


ROPER BROTHERS: Files Schedules of Assets & Liabilities
-------------------------------------------------------
Roper Brothers Lumber Company, Incorporated, filed with the U.S.
Bankruptcy Court for the Eastern District of Virginia its
schedules of assets and liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                $2,070,964
  B. Personal Property           $11,681,935
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $5,928,021
  E. Creditors Holding
     Unsecured Priority
     Claims                                         $375,872
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                       $10,354,294
                                 -----------      -----------
        TOTAL                     $13,752,899      $16,658,187

Petersburg, Virginia-based Roper Brothers Lumber Company,
Incorporated, filed for Chapter 11 bankruptcy protection on
December 16, 2009 (Bankr. E.D. Va. Case No. 09-38215).
Elizabeth L. Gunn, Esq.; John C. Smith, Esq.; and Roy M. Terry,
Jr., Esq., at DurretteBradshaw, PLC, 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.


RSG FAMILY: Case Summary & 14 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: The RSG Family Limited Partnership - Gordon River
          dba Gordon River Apartments
          aka The RSG Family Limited Liability Limited Parthership
          fdba River Park East
        402 11th Street North
        Naples, FL 34102

Bankruptcy Case No.: 10-01843

Chapter 11 Petition Date: January 28, 2010

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

Debtor's Counsel: Scott A. Stichter, Esq.
                  Stichter, Riedel, Blain & Prosser
                  110 E. Madison Street, Suite 200
                  Tampa, FL 33602-4700
                  Tel: (813) 229-0144
                  Fax: (813) 229-1811
                  Email: sstichter.ecf@srbp.com

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

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

A list of the Company's 14 largest unsecured creditors is
available for free at:

             http://bankrupt.com/misc/flmb10-01843.pdf

The petition was signed by Ronald L. Glas.


RUBICON US: Taps Garden City Group as Claims Agent
--------------------------------------------------
Rubicon US REIT, Inc., et al., has asked for authorization from
the U.S. Bankruptcy Court for the District of Delaware to hire The
Garden City Group, Inc., as claims, noticing, and balloting agent,
nunc pro tunc to the Petition Date.

GCG will, among other things:

     a. notify potential creditors of the filing of the bankruptcy
        petitions; of the setting of the first meeting of
        creditors, pursuant to section 341(a) of the Bankruptcy
        Code and of the existence and amount of their respective
        claims; and furnishing other notices as may from time to
        time be required;

     b. file with the Clerk the necessary affidavits or
        certificates of service with all relevant documentation;

     c. docket claims filed in the Debtors' Chapter 11 cases and
        maintain the official claims register, unless otherwise
        directed; and perform other like services as needed; and

     d. thirty days prior to the close of the bankruptcy cases,
        submit an order dismissing GCG as the claims and noticing
        agent and terminating the services of GCG as the claims
        and noticing agent upon completion of its duties and
        responsibilities and upon the closing of the Debtors'
        cases.

GCG will be paid for its services based on its agreement with the
Debtors.  A copy of the agreement is available for free at:

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

Karen B. Shaer, general counsel and executive vice president of
GCG, assures the Court that the firm is "disinterested" as that
term is defined in Section 101(14) of the Bankruptcy Code.

Based in Chicago, Illinois, Rubicon US REIT Inc. and its
affiliates filed for Chapter 11 protection on January 20, 2010
(Bankr. D. Del. Lead Case No. 10-10160).  Stephen W. Spence, Esq.,
at Phillips, Goldman & Spence, represents the Debtors.  In its
petition, the Debtors listed both assets and debts of between
$100 million and $500 million.


RUSSELL PROPERTIES: Updated Case Summary & Creditors List
---------------------------------------------------------
Debtor: Russell Properties Utah, LLC
        19850 Rocking Horse Road
        Bend, OR 97701

Bankruptcy Case No.: 10-20618

Chapter 11 Petition Date: January 21, 2010

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

Judge: Judith A. Boulden

Debtor's Counsel: George B. Hofmann, Esq.
                  Parsons Kinghorn & Harris
                  111 East Broadway, 11th Floor
                  Salt Lake City, UT 84111
                  Tel: (801) 363-4300
                  Fax: (801) 363-4378
                  Email: gbh@pkhlawyers.com

                  James C. Jenkins, Esq.
                  Olson & Hoggan, P.C.

                  Matthew M. Boley, Esq.
                  Parsons Kinghorn Harris
                  111 E. Broadway, 11th Floor
                  Salt Lake City, UT 84111
                  Tel: (801) 363-4300
                  Fax: (801) 363-4378
                  Email: mmb@pkhlawyers.com

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

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

A list of the Company's 19 largest unsecured creditors is
available for free at:

             http://bankrupt.com/misc/utb10-20618.pdf

The petition was signed by Stephen Russell, manager of the
company.


S&B SURGERY CENTER: Committee Required to Maintain Web Site
-----------------------------------------------------------
WestLaw reports that an unsecured creditors' committee in a
Chapter 11 case that involved more than 220 unsecured creditors
with over $36 million in unsecured claims would be required to
establish and maintain an Internet Web site to provide non-
confidential information for unsecured creditors regarding the
debtor's Chapter 11 case, in fulfillment of its statutory
obligation under 11 U.S.C. Sec. 1102(b)(3)(A) to provide access to
information to unsecured creditors that it served.  A bankruptcy
judge in California overruled the committee's objection that the
cost of maintaining such a Web site, in the amount of from $500 to
$3,000 per month, was excessive and unwarranted given the size of
the debtor's case.  The cost was minimal when compared with the
more than $25 million in assets listed on the debtor's schedules.
In re S & B Surgery Center, Inc., --- B.R. ----, 2009 WL 2567017,
51 Bankr. Ct. Dec. 284, Bankr. L. Rep. P 81,602 (Bankr. C.D.
Calif.) (Bufford, J.).

This is the second published opinion interpreting 11 U.S.C. Sec.
1102(b)(3)(A) after its enactment on April 20, 2005, and taking
effect on Oct. 17, 2005.  The first published opinion is In re
Refco Inc., 336 B.R. 187 (Bankr. S.D.N.Y. 2006) (Drain, J.).

S&B Surgery Center, Inc., dba S&B Surgery Center II, operates an
out-patient surgery center in Century City (a district in the
western part of Los Angeles).  S&B filed a chapter 11 petition
(Bankr. C.D. Calif. Case No. 09-19825) on April 27, 2009, and is
represented by Samuel R. Maizel, Esq., at Pachulski Stang Ziehl &
Jones LLP in Los Angeles.  The Debtor's Schedules of Assets and
Liabilities disclose $25 million in assets as of the Petition
Date.


SAINT VINCENT: Board Taps Grant Thornton's Mark Toney as CRO
------------------------------------------------------------
Barbara Benson at Crain's New York Business reports that Saint
Vincent Catholic Medical Centers has hired consulting firm Grant
Thornton to advise it on a major restructuring effort to try to
return the institution to fiscal solvency.

Crain's reports that SVCMC's board has named Mark Toney, National
Managing Partner of Grant Thornton's Corporate Advisory and
Restructuring Services practice, as its chief restructuring
officer.  Mr. Toney will report directly to the board, and will
have responsibility for the hospital's operations during the
restructuring process.  Crain's says SVCMC's president and chief
executive Henry Amoroso will assist the CRO in the restructuring
process.

According to Crain's, SVCMC's hiring of a CRO may be a prelude to
a second bankruptcy filing as a means of dealing with $700 million
in debt.

"There's no question that Saint Vincent's is facing the most
serious test of its 160-year history, and that we must
substantially adapt to meet the financial and health care
challenges of the 21st century," said SVCMC Chairman Alfred Smith
IV in a statement issued Sunday, according to Crain's.  "The Saint
Vincent's board is behind Grant Thornton in helping steer our
venerable institution through what is sure to be a difficult
process so we can emerge as a provider of quality health care for
the West Side of Manhattan."

Crain's relates SVCMC's board has spent tens of millions of
dollars on consulting firms, including Huron Consulting and
Alvarez & Marsal, since it first filed for bankruptcy in 2005.

According to the Troubled Company Reporter on January 27, 2010,
Crain's said SVCMC is in default of its reorganization plan.  It
missed a $10 million payment to a trust fund created to deal with
medical malpractice cases.  According to the TCR, Crain's reported
that SVCMC failed to transfer $10 million to the MedMal Trusts on
August 30, the anniversary of the plan's effective date.  Crain's
said lawyers tried to work with SVCMC to cure the default,
including an asset sale.

According to the TCR, Crain's said SVCMC on January 19 informed
the fund that it would not cure the default with a $10 million
payment.  Instead, SVMC is distributing $18.6 million to other
creditors, according to court documents.  Crain's said lawyers
sought to keep the issue out of court dockets "in an effort to
protect the sensitivity of these matters and to provide SVCMC with
an opportunity to avoid a second bankruptcy filing."

         About Saint Vincent Catholic Medical Centers

Saint Vincent Catholic Medical Centers -- http://www.svcmc.org/--
is anchored by St. Vincent's Hospital Manhattan, an academic
medical center located in Greenwich Village and the only emergency
room on the Westside of Manhattan from Midtown to Tribeca, St.
Vincent's Westchester, a behavioral health hospital in Westchester
County, and continuing care services that include two skilled
nursing facilities in Brooklyn, another on Staten Island, a
hospice, and a home health agency serving the Metropolitan New
York area.  Its behavioral health services also provide supportive
housing programs for people with mental illness throughout the
Metropolitan area.  Saint Vincent's is the designated provider for
the New York and New Jersey region of the US Family Health Plan
sponsored by the US Department of Defense.

Saint Vincent's serves as the academic medical center of New York
Medical College in New York City. The healthcare organization is
sponsored by the Roman Catholic Bishop of Brooklyn and the
president of the Sisters of Charity of New York.

Saint Vincent Catholic Medical Centers of New York and six of its
affiliates filed for Chapter 11 protection on July 5, 2005 (Bankr.
S.D.N.Y. Case No. 05-14945 through 05-14951).  Gary Ravert, Esq.,
and Stephen B. Selbst, Esq., at McDermott Will & Emery, LLP, filed
the Debtors' Chapter 11 cases.  On September 12, 2005, John J.
Rapisardi, Esq., at Weil, Gotshal & Manges LLP took over
representing the Debtors in their restructuring efforts.  Martin
G. Bunin, Esq., at Thelen Reid & Priest LLP, represented the
Official Committee of Unsecured Creditors.  As of April 30, 2005,
the Debtors listed $972 million in total assets and $1 billion in
total debts.  The Court confirmed the Debtors' Chapter 11 plan on
July 27, 2007.


SARGENT RANCH: Taps Smaha Law to Handle Reorganization Case
-----------------------------------------------------------
Sargent Ranch, LLC, asks the U.S. Bankruptcy Court for the
Southern District of California for permission to employ Smaha Law
Group, APC as counsel.

The firm will provide legal services in relation to the Chapter 11
case of the Debtor.

John L. Smaha, Esq., a principal at the firm, tells the Court that
the firm received a $20,000 retainer for fees and costs.  The firm
reserves the right to charge a late fee of 10% per annum on unpaid
balances more than 60 days past due.

The hourly rates of the firm's personnel are:

     Mr. Smaha                        $345
     Attorneys                    $150 - $250

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

Mr. Smaha can be reached at:

     Smaha Law Group, APC
     7860 Mission Center Court, Suite 100
     San Diego, CA 92108
     Tel: (619) 688-1557
     Fax: (619) 688-1558

La Jolla, California-based Sargent Ranch, LLC, a California
Limited Liability Company, filed for Chapter 11 bankruptcy
protection on January 4, 2010 (Bankr. S.D. Calif. Case No. 10-
00046).  John L. Smaha, Esq., at Smaha Law Group, APC, assists the
Company in its restructuring effort.  The Company listed
$500,000,001 to $1,000,000,000 in assets and $50,000,001 to
$100,000,000 in liabilities.


SEA LAUNCH: Posts Over $17 Mil. Net Loss in December 2009
---------------------------------------------------------
NetDockets reports Sea Launch Company, L.L.C. and its affiliates
have filed their consolidated monthly operating report for the
month of December 2009.  According to the monthly operating
report, the companies ended December with assets of almost
$498 million, an increase of almost $47 million since their
June 22 bankruptcy filing.  Liabilities have increased from
$2.113 billion to $2.197 billion over the same period, with
$21.5 million being categorized as liabilities not subject to
compromise.  The companies ended December with less than
$3.8 million in available cash.

NetDockets reports that in December, the companies generated no
revenue, resulting in a net loss for the month of over
$17 million.  The largest expenses during the period were for
launch costs ($9.5 million), depreciation ($2.3 million), other
administrative costs ($2.3 million), and professional fees
($2.2 million).  Since the bankruptcy filing, the companies have
generated a net loss of $47.8 million on revenue of $29.9 million.
The net loss includes $10.8 million in reorganization expenses.

Sea Launch Co. is a satellite-launch services provider that offers
commercial space launch capabilities from the Baikonur Space
Center in Kazakhstan.  Its owners include Boeing Co., RSC Energia,
and Aker ASA.

Sea Launch Company, L.L.C., filed for Chapter 11 on June 22, 2009
(Bankr. D. Del. Case No. 09-12153).  Joel A. Waite, Esq., and
Kenneth J. Enos, Esq., at Young, Conaway, Stargatt & Taylor LLP,
in Wilmington, Delaware, serve as the Debtor's counsel.  At the
time of the filing, the Company said its assets range from
$100 million to $500 million and debts are at least $1 billion


SENSATA TECHNOLOGIES: S&P Raises Corporate Credit Rating to 'B-'
----------------------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit
rating on Attleboro, Massachusetts-based Sensata Technologies B.V.
to 'B-' from 'CCC+'.  S&P also raised the rating on the senior
secured debt to 'B+' (two notches above the corporate credit
rating) from 'B'.

The recovery rating on this debt is '1', indicating S&P's
expectation of very high (90%-100%) recovery in a payment default
scenario.  S&P also raised the issue-level ratings on the
company's senior notes and senior subordinated debt to 'CCC' (two
notches below the corporate credit rating) from 'CCC-'.  The
recovery ratings on this debt are '6', indicating S&P's
expectation of negligible (0%-10%) recovery in a payment default
scenario for the senior notes and senior subordinated notes.  The
outlook is positive.

The ratings upgrade reflects good fourth-quarter results and S&P's
belief that business trends remain favorable, which should allow
for sustained improvement in credit measures.  The risk of a
covenant violation in the near term has declined due to the
improved operating performance.  Furthermore, Sensata's liquidity
position benefits from $148 million of cash balances at year end,
with no borrowings drawn under its $150 million revolver.

The senior secured debt, which is all pari passu, consists of a
$150 million revolving credit facility, a EUR392 million term loan
facility, and a $950 million term loan.  The senior subordinated
notes are general unsecured obligations that are subordinated in
right of payment to the senior secured debt facilities and the 8%
senior notes due 2014.

Sensata remains highly leveraged but has begun to generate better
EBITDA due to improved market conditions and significant cost-
cutting actions.  "For example, S&P could raise the ratings if
adjusted debt to EBITDA trends toward 6x and S&P anticipate
further improvement," said Standard & Poor's credit analyst Dan
Picciotto.  The company could also delever if parent Sensata
Technologies Holding's IPO is successful.  "However, an upgrade is
not contingent on completion of the IPO if the company can
otherwise improve credit measures through an improved operating
performance," he continued.  S&P could revise the outlook to
stable if market conditions become unfavorable and limit
improvement in credit measures.  For instance, if S&P thought
adjusted debt to EBITDA would remain more than 7x, S&P could
revise the outlook to stable.


SID'S HARDWARE: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Sid's Hardware & Homecenter Corp.
          dba Sid's True Value Hardware
        345 Jay Street
        Brookyn, NY 11201

Bankruptcy Case No.: 10-40518

Chapter 11 Petition Date: January 22, 2010

Court: United States Bankruptcy Court
       Eastern District of New York (Brooklyn)

Judge: Carla E. Craig

Debtor's Counsel: Arthur Goldstein, Esq.
                  Todtman Nachamie Spizz & Johns PC
                  425 Park Ave, 5th Floor
                  New York, NY 10022
                  Tel: (212) 754-9400
                  Email: agoldstein@tnsj-law.com

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

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

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

The petition was signed by Galit Gold, president of the Company.


SIMMONS CO: S&P Withdraws 'D' Corporate Credit Rating
-----------------------------------------------------
Standard & Poor's Ratings Services withdrew its ratings, including
the 'D' corporate credit rating, on Atlanta-based Simmons Co. and
its wholly owned subsidiary Simmons Bedding Co.

This follows the company's recent emergence from bankruptcy and
acquisition by certain affiliates of Ares Management LLC and
Teachers' Private Capital, the private investment department of
the Ontario Teacher's Pension Plan.

The company had previously filed for Chapter 11 bankruptcy
protection with the U.S. Bankruptcy Court in the District of
Delaware on Nov., 16, 2009, and filed a pre-packaged plan of
reorganization with the Bankruptcy Court.

In conjunction with the company's recently completed financial
restructuring and bankruptcy emergence, Simmons has eliminated
approximately $550 million of previously rated debt, through
either repayment, partial repayment, or conversion of debt into
equity.

Simmons is a leading manufacturer and distributor of bedding
products and mattresses in the U.S. and Canada.


SIRIUS XM: Moody's Upgrades Corporate Family Rating to 'Caa1'
-------------------------------------------------------------
Moody's Investors Service upgraded Sirius XM Radio Inc.'s
Corporate Family Rating to Caa1 from Ca, Probability of Default
Rating to B3 from Caa3, and speculative-grade liquidity rating to
SGL-2 from SGL-3.  Associated debt ratings were upgraded as
detailed below.  The upgrades reflect Moody's view that continued
expected improvement in the company's operating results and recent
refinancing actions to term out debt have improved its liquidity
position and significantly lowered near-term default risk.
Realized synergies from the merger of Sirius and XM and
stabilization of the subscriber base is driving a significant
shift in Sirius XM's earnings performance, with EBITDA turning
positive in 2009 for the first time in the company's history.
Sirius XM's leverage remains very high (approximately 9.7x FY 2009
incorporating Moody's standard adjustments) given the long-term
capital reinevstment needs of satellite-based service providers,
but the improved liquidity position provides management additional
flexibility to execute its growth plan and potentially reduce
leverage to a more sustainable level.  Loss given default point
estimates were also updated and the rating outlook is stable.

Upgrades:

Issuer: Sirius XM Radio Inc.

  -- Corporate Family Rating, Upgraded to Caa1 from Ca

  -- Probability of Default Rating, Upgraded to B3 from Caa3

  -- Speculative Grade Liquidity Rating, Upgraded to SGL-2 from
     SGL-3

  -- Senior Secured Term Loan due December 2012, Upgraded to B1
     from B3 (no change to LGD2 - 10% assessment)

  -- Senior Secured Notes due September 2015, Upgraded to B2, LGD3
     - 33% from Caa2, LGD3 - 34%

  -- Senior Unsecured Notes due August 2013, Upgraded to Caa2,
     LGD5 - 76% from Ca, LGD5 - 77%

Issuer: XM Satellite Radio Inc.

  -- Senior Secured Notes due June 2013, Upgraded to B2, LGD3 -
     33% from Caa2, LGD3 - 34%

  -- Senior Unsecured Notes due August 2013, Upgraded to Caa2,
     LGD5 - 76% from Ca, LGD5 - 77%

Outlook Actions:

Issuer: Sirius XM Radio Inc.

  -- Outlook, Changed To Stable From Positive

Sirius XM's Caa1 CFR continues to reflect its sizeable debt burden
and uncertainty surrounding the viability of subscription-based
satellite radio and cash sustainability of the capital structure.
The Caa1 rating also reflects Moody's view that EBITDA less
capital spending to interest expense will remain below 1x in 2010
and 2011 despite expected improvement in subscriber levels and
EBITDA.  Moody's believes moving this interest coverage ratio to
1x or above will be critical in any consideration of the ratings
for a further upgrade.  Sirius XM indicated that free cash flow
would be over $100 million in 2009, but Moody's estimates the
company would have been a user of cash absent a significant
working capital inflow during the year.  A reversal of some of the
favorable working capital movements in 2010 along with the sizable
interest burden and continued elevated capital spending to
complete the construction and launch of two new satellites in 2010
and 2011 will be a drag on cash flow.

The upgrade to SGL-2 from SGL-3 reflects the company's improved
cash position as a result of the positive free cash flow during
2009, and the level of cushion this provides relative to
anticipated cash needs including the sizable 2010 capital spending
budget.  Liquidity is bolstered by the minimal amount of
maturities in 2010 (required annual term loan amortization is
$2.5 million) and the absence of financial maintenance covenants
in Sirius XM's existing debt agreements.

The stable rating outlook reflects Moody's expectation that EBITDA
less capital spending to interest expense will remain below 1x
over the next 12-18 months despite projected growth in the number
of subscribers and EBITDA, and continued anticipated improvement
in credit metrics.  The stable rating outlook also reflects that
Sirius XM's ability to generate positive free cash flow will be
highly dependent on realizing an inflow from more volatile working
capital movements in the next 12-18 months.

The last rating action was on August 13, 2009, when Moody's
assigned a Caa2 rating to Sirius XM's 2015 notes.

Sirius XM's ratings were assigned by evaluating factors that
Moody's considers relevant to the credit profile of the issuer,
such as the company's (i) business risk and competitive position
compared with others within the industry; (iii) capital structure
and financial risk; (iii) projected performance over the near to
intermediate term; and (iv) management's track record and
tolerance for risk.  Moody's compared these attributes against
other issuers both within and outside Sirius XM's core industry
and believes Sirius XM's ratings are comparable to those of other
issuers with similar credit risk.

Sirius XM, headquartered in New York, is a provider of
subscription-based satellite radio services.  Annual revenue is
approximately $2.5 billion.


SIX FLAGS: Court Approves Informal Settlement With OSHA
-------------------------------------------------------
Bankruptcy Judge Christopher Sontchi approves an informal
settlement agreement between Six Flags Inc. and the Office of
Occupational Safety and Health Administration in Austin, Texas.

The Debtors had been cited for violations to certain regulations
of the OSHA regulations on June 23, 2009.  The nature of the
violations and specific penalties, however, were not disclosed in
the Court's filings.

In order to settle citations and penalties imposed by the OSHA,
the parties agree that:

(1) The Debtors agree to correct the violations as cited and to
     provide OSHA with a written response as to specific
     corrective action taken for each position;

(2) The Debtors agree to pay the proposed penalties, as
     issued with the citation(s).  The penalties are to be
     remitted with the signed copy of the Informal Settlement
     Agreement or within five days of the signing of the
     Agreement.  If the original signed Agreement and Payment is
     not received in accordance with its time period, the
     Agreement will be null and void and all original penalties
     will become payable along with appropriate fees and
     interest;

(3) The Debtors and OSHA agree to these citations and
     penalties:

       "The penalty of $16,100 will be paid on or before
       January 31, 2020.  If the Debtors have not received their
       bankruptcy filing at that time, further documentation
       will be provided to the Austin Area OSHA Office as to
       when the penalty will be paid no later than the close of
       business."

(4) OSHA agrees that these citations are being amended:

      Citation 1, Item 1: The penalty is reduced to $2,500.
      The violation is reclassified to "Other than serious."

      Citation 1, Item 2: The penalty is reduced to $3,500.  The
      violation is reclassified to "Other than serious."

      Citation 1, Item 3: The penalty is reduced to $2,500.  The
      violation is reclassified to "Other than serious."

      Citation 1, Item 4: The penalty is reduced to $2,500.  The
      violation is reclassified to "Other than serious."

      Citation 1, Item 5: The penalty is reduced to $2,500.  The
      violation is reclassified to "Other than serious."

      Citation 1, Item 6: The penalty is reduced to $2,600.  The
      violation is reclassified to "Other than serious."

(5) The Debtors agree that OSHA will be permitted access to
     their workplace during the Debtors normal business hours
     subsequent to the abatement dates set forth for the
     specific and limited purpose of permitting OSHA to confirm
     the Debtors' compliance with the provisions of the Informal
     Settlement Agreement;

(6) The Debtors, by signing the Informal Settlement Agreement,
      waive their rights to contest the citations and penalties
      of the amended Informal Settlement Agreement;

(7) Neither the Informal Settlement Agreement nor the Debtors'
     waiver of their right to contest pursuant to the Informal
     Settlement Agreement constitute any admission by the
     Debtors of a violation of the Occupational Safety and
     Hazards Act of regulations or standards promulgated in the
     Informal Settlement Agreement.  The Informal Settlement
     Agreement should not be offered, used or added in evidence
     to any proceeding or litigation, whether or criminal other
     than proceedings brought by the United states Government.

(8) The Debtors agree to provide warning for supervisors and
     other critical and health requirements and hazards as
     detailed in the citations;

(9) Each Party agrees to bear its own fees and other expenses
     incurred by each party in connection with any stage of this
     proceeding.

                           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).


SIX FLAGS: Equity Residential Appoints Shapiro as Trustee
---------------------------------------------------------
In a regulatory filing with the United States Securities and
Exchange Commission, the Board of Trustees of Equity Residential
disclosed that it appointed Mark Shapiro, Chief Executive Officer
of Six Flags, Inc., as a Trustee of Equity Residential's Board of
Trustees effective as of January 26, 2010, increasing the size of
its board from 10 to 11.  The Board also appointed Mr. Shapiro to
serve on the Audit Committee.  The Board has determined that Mr.
Shapiro is independent of the Company and its management within
the meaning of the New York Stock Exchange listing standards.

                           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).


SIX FLAGS: To Hire 3,900 Workers in Kentucky/Missouri
-----------------------------------------------------
Six Flags, Inc.'s theme parks located in Louisville, Kentucky, and
St. Louise, Missouri, will be holding a job fair that would
employ some 3,900 workers, according to various sources.

Six Flags Kentucky Kingdom, on February 17 and February 20, 2010,
will hold a job fair for teens and adults who would like to work
in about 900 seasonal positions that will commence when the park
opens on April 24, the courrier-journal.com reported on
January 27.  In St. Louise, Missouri, Six Flags is filling up more
than 3,000 slots for the 2010 season, which starts on April 2, the
St. Louise business journal said.

                           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).


SMURFIT-STONE: Proposes to Pay USW Professional Fees & Expenses
---------------------------------------------------------------
Smurfit-Stone Container Corp. and its units ask the Court for
authority to pay certain professional fees and expenses incurred
by professionals engaged by the United Steelworkers in connection
with issues arising out of the Debtors' efforts to reorganize.

The Debtors are currently in the process of developing a business
plan and other financial modeling that will provide the basis for
their reorganization, which may involve matters related to the
Debtors' pension plans in which majority of their unionized
employees participate.

To facilitate their ability to engage in meaningful negotiations
and discussions regarding issues related to hourly employees
represented by USW, USW determined that it is advisable for it to
retain outside professional advisors, including Potok Co., Inc.,
an investment banking firm, to focus on matters emanating from
the Debtors Chapter 11 cases.

Against this backdrop, the Debtors have agreed to pay the Outside
Consultant Fees and Expenses, subject to a $750,000 overall cap
for USW's investment banker, and $375,000 for other Outside
Consultants, provided that USW will not be precluded from seeking
a success fee for its investment banker in appropriate
circumstances.

James F. Conlan, Esq., at Sidley Austin LLP, in Chicago,
Illinois, relates that the Debtors and the USW presented a
certain memorandum of understanding to the Official Committee of
Unsecured Creditors, and the Committee supports the Debtors'
intention.

The MOU provides these procedures for payment of Outside
Consultant Fees:

  -- the Debtors will pay Potok and Co. $65,000 per month for
     each month beginning the later of February 2009 or the date
     Potok was first retained, and until Potok's work is
     concluded or the effective date of a plan of
     reorganization, provided that the aggregate amount will not
     exceed $750,000;

  -- the Debtors will pay USW's other Outside Consultants in
     connection with the Debtors' restructuring for all work
     performed between the Petition Date and the date the
     Outside Professional's work is concluded or the effective
     date of any Chapter 11 Plan of reorganization, provided
     that the amount will not exceed $375,000; and

  -- payment will be based on each Outside Consultant's usual
     rates and reimbursement will be only for reasonable and
     necessary expenses.

                        About Smurfit-Stone

Smurfit-Stone Container Corp. -- http://www.smurfit-stone.com/--
is one of the leading integrated manufacturers of paperboard and
paper-based packaging in North America and one of the world's
largest paper recyclers.  The Company operates 162 manufacturing
facilities that are primarily located in the United States and
Canada.  The Company also owns roughly one million acres of
timberland in Canada and operates wood harvesting facilities in
Canada and the United States.  The Company employs roughly 21,250
employees, 17,400 of which are based in the United States.  For
the quarterly period ended September 30, 2008, the Company
reported roughly US$7.450 billion in total assets and
US$5.582 billion in total liabilities on a consolidated basis.

Smurfit-Stone and its U.S. and Canadian subsidiaries filed for
Chapter 11 protection on January 26, 2009 (Bankr. D. Del. Lead
Case No. 09-10235).  Certain of the company's affiliates,
including Smurfit-Stone Container Canada Inc., a wholly owned
subsidiary of SSCE, and certain of its affiliates, filed to
reorganize under the Companies' Creditors Arrangement Act in the
Ontario Superior Court of Justice in Canada.

Smurfit-Stone joined pulp- and paper-related bankruptcies as
rising Internet use hurts magazines and newspapers.  Corporacion
Durango SAB, Mexico's largest papermaker, sought U.S. bankruptcy
in October.  Quebecor World Inc., a magazine printer and Pope &
Talbot Inc., a pulp-mill operator, also sought cross-border
bankruptcies for their operations in the U.S. and Canada.

James F. Conlan, Esq., Matthew A. Clemente, Esq., Dennis M.
Twomey, Esq., and Bojan Guzina, Esq., at Sidley Austin LLP, in
Chicago, Illinois; and Robert S. Brady, Esq., and Edmon L. Morton,
Esq., at Young Conaway Stargatt & Taylor in Wilmington, Delaware,
serve as the Debtors' bankruptcy counsel.  PricewaterhouseCooper
LLC, serves as the Debtors' financial and investment consultants.
Lazard Freres & Co. LLC acts as the Debtors' investment bankers.
Epiq Bankruptcy Solutions LLC acts as the Debtors' notice and
claims agent.

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


SOLID ROCK: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Solid Rock Christian Center, Inc.
        6720 East Raines Road
        Memphis, TN 38115

Bankruptcy Case No.: 10-20948

Chapter 11 Petition Date: January 28, 2010

Court: United States Bankruptcy Court
       Western District of Tennessee (Memphis)

Judge: George W. Emerson Jr.

Debtor's Counsel: John E. Dunlap, Esq.
                  1684Poplar Ave
                  Memphis, TN 38104
                  Tel: (901) 726-6770
                  Fax: (901) 726-6771
                  Email: jdunlap00@gmail.com

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

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

According to the schedules, the Company has assets of $7,187,700,
and total debts of $3,226,100.

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

             http://bankrupt.com/misc/tnwb10-20948.pdf

The petition was signed by William E. Anderson Jr., pastor of the
Company.


SOUTHEAST TELEPHONE: Can Use CTB Cash Collateral Until Feb. 28
--------------------------------------------------------------
The Hon. William S. Howard of the U.S. Bankruptcy Court for the
Eastern District of Kentucky authorized SouthEast Telephone, Inc.,
to use cash securing repayment of loan with Community Trust Bank
Inc. until February 28, 2010.

The Debtor would use the cash collateral to ensure continued going
concern operations and to protect and preserve the value of the
Debtor's assets and on-going operations.

As reported in the Troubled Company Reporter on November 12, 2009,
the Debtor owes $3.4 million to CTB, which is secured by blanket
liens on all assets.

CTB agreed to extend the term of the cash collateral.

As adequate protection for any diminution in value of CTB's
collateral, the Debtors will grant CTB a replacement lien and
superpriority administrative claim which are subordinate to the
fees of the U.S. Trustee and the carve-out for fees.

The Debtor's right to use the cash collateral will expire (i) at
the end of the term; (ii) in the event of a termination or
suspension of the order; or (iii) in the event the Debtor is in
default.

Pikeville, Kentucky-based SouthEast Telephone, Inc., operates a
telecommunication business.  The Company filed for Chapter 11 on
Sept. 28, 2009 (Bankr. E.D. Ky. Case No. 09-70731).  Jamie L.
Harris, Esq., and Laura Day DelCotto, Esq., at Wise DelCotto PLLC,
represent the Debtor in its restructuring effort.  In the Debtor's
schedules, it said it has assets of at least $15,573,655, and
total debts of $31,423,707.


SPANSION INC: Korea Export Assumes Samsung's Claims
---------------------------------------------------
In separate Court filings, creditors of Spansion Inc. disclosed
that they intend to transfer each of their claims against the
Debtors to these parties:

Transferor               Transferee                    Amount
----------               ----------                   --------
Samsung Malaysia         Korea Export Insurance
Electronics              Corporation                  $104,231

Samsung-Electro-         Korea Export Insurance
Mechanics Co., Ltd.      Corporation                   314,949

Law Offices of
Mikio Ishamaru           Contrarian Funds, LLC          16,727

Crossing Automation      Contrarian Funds, LLC          27,875

Successfactor Inc        Liquidity Solutions, Inc.     188,388

Intelligent Enterprises
Solutions                Liquidity Solutions, Inc.      48,328

American Instrument      Liquidity Solutions, Inc.      49,466

Veeco Instrument Inc.    Liquidity Solutions, Inc.      50,466

                        About Spansion Inc.

Spansion Inc. (Pink Sheets: SPSNQ) -- http://www.spansion.com/--
is a Flash memory solutions provider.  Spansion is a former joint
venture of AMD and Fujitsu.

Spansion Inc., Spansion LLC, Spansion Technology LLC, Spansion
International, Inc., and Cerium Laboratories LLC filed voluntary
petitions for Chapter 11 on March 1, 2009 (Bankr. D. Del. Lead
Case No. 09-10690).  On February 9, 2009, Spansion's Japanese
subsidiary, Spansion Japan Ltd., voluntarily entered into a
proceeding under the Corporate Reorganization Law (Kaisha Kosei
Ho) of Japan to obtain protection from its creditors as part of
the company's restructuring efforts. None of Spansion's
subsidiaries in countries other than the United States and Japan
are included in the U.S. or Japan filings.

Michael S. Lurey, Esq., Gregory O. Lunt, Esq., and Kimberly A.
Posin, Esq., at Latham & Watkins LLP, have been tapped as
bankruptcy counsel.  Michael R. Lastowski, Esq., at Duane Morris
LLP, is the Delaware counsel.  Epiq Bankruptcy Solutions LLC, is
the claims agent.  The United States Trustee has appointed an
official committee of unsecured creditors in the case.  As of
September 30, 2008, Spansion disclosed total assets of
US$3,840,000,000, and total debts of US$2,398,000,000.

Spansion Japan Ltd. filed a Chapter 15 petition on April 30, 2009
(Bankr. D. Del. Case No. 09-11480).  The Chapter 15 Petitioner's
counsel is Gregory Alan Taylor, Esq., at Ashby & Geddes.  It said
that Spansion Japan had US$10 million to US$50 million in assets
and US$50 million to US$100 million in debts.

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


SPANSION INC: Latham & Watkins Bills $3.9MM for Sept-Nov Work
-------------------------------------------------------------
Pursuant to Sections 330 and 331 of the Bankruptcy Code,
professionals of Spansion Inc. and its Official Committee of
Unsecured Creditors seek payment of their fees and reimbursement
of their expenses:

A. Debtors' Professionals

Professional                  Period         Fees      Expenses
------------                  ------         ----      --------
Ernst & Young LLP          09/01/09-
                            11/30/09       $96,161        $92

K&L Gates LLP              09/01/09-
                            11/30/09       271,388    288,573

Sitrick and Company Inc.   09/01/09-
                            11/30/09         6,121          0

Baker & McKenzie LLP       09/01/09-
                            11/30/09       296,487      2,914

Latham & Watkins LLP       09/01/09-
                            11/30/09     3,920,438     55,399

Wilson Sonsini Goodrich    09/01/09-
& Rosati, P.C.             11/30/09        34,613          2

Gordian Group, LLC         09/01/09-
                            11/30/09       225,000     14,903

Duane Morris LLP           09/01/09-
                            11/30/09       405,249      8,212

KPMG LLP                   09/01/09-
                            11/30/09        39,049          0

King & Spalding LLLP       09/01/09-
                            11/30/09     5,725,520    125,356

Morrison & Foerster LLP    09/01/09-
                            11/30/09       605,136     41,363

Brincko Associates, Inc.   12/01/09-
                            12/31/09       112,642      4,244

Baker & McKenzie and Latham & Watkins withdrew their interim
applications on January 15, 2010.

Brincko Associates is the Debtors' restructuring advisors.
Latham & Watkins is the Debtors' counsel.  Ernst & Young is the
Debtors' auditors.  K&L Gates serves as special litigation
counsel to the Debtors.  Sitrick acts as the Debtors' corporate
communications consultants.  Baker & McKenzie serves as the
Debtors' attorneys.  Wilson Sonsini is the Debtors' special
counsel.  Gordian Group is the Debtors' financial advisor.  Duane
Morris is the Debtors' co-counsel.  KPMG acts as the Debtors'
financial advisor.  King & Spalding is the special litigation
counsels to the Debtors.  Morrison & Foerster is the litigation
counsel to the Debtors.

The Debtors certified to the Court that no objections were filed
as to these professionals' monthly fee applications:

Professional                 Period    80% Fees  100% Expenses
------------                 ------    --------  -------------
Morrison & Foerster LLP    11/01/09-
                            11/30/09    $57,893      $72,367

Latham & Watkins LLP       11/01/09-
                            11/30/09  1,294,557       19,244

Duane Morris LLP           11/01/09-
                            11/30/09    138,436        4,455

Brincko Associates, Inc.   11/01/09-
                            11/30/09     89,806        6,622

Baker & McKenzie LLP       11/01/09-
                            11/30/09     98,758        1,108

Wilson Sonsini Goodrich    11/01/09-
& Rosati, P.C.             11/30/09      1,033            0

Sitrick and Company Inc.   11/01/09-
                            11/30/09        220            0

Gordian Group, LLC         11/01/09-
                            11/30/09     60,000       10,046

King & Spalding LLP        11/01/09-
                            11/30/09  1,782,853       54,386

Morgan Stanley & Co.       03/01/09-
Incorporated               08/31/09    700,000      164,589

K&L Gates LLPP             11/01/09-
                            11/30/09     36,587       59,902

B. Professionals of the Official Committee on Unsecured Creditors

Landis Rath & Cobb LLP seeks payment of fees totaling $45,370
and reimbursement of expenses for $768 for the period from
September 3, 2009, through November 30, 2009.  Landis Rath is
the Committee's conflicts counsel.

The Committee certified to the Court that no objections were
filed as to FTI Consulting, Inc.'s monthly fee application for
the period from November 1, 2009 through November 30, 2009.
Accordingly, the Debtors are now authorized to pay 80% of fees
totaling $120,000 and $1,298 representing 100% of reimbursement
requested.

                        About Spansion Inc.

Spansion Inc. (Pink Sheets: SPSNQ) -- http://www.spansion.com/--
is a Flash memory solutions provider.  Spansion is a former joint
venture of AMD and Fujitsu.

Spansion Inc., Spansion LLC, Spansion Technology LLC, Spansion
International, Inc., and Cerium Laboratories LLC filed voluntary
petitions for Chapter 11 on March 1, 2009 (Bankr. D. Del. Lead
Case No. 09-10690).  On February 9, 2009, Spansion's Japanese
subsidiary, Spansion Japan Ltd., voluntarily entered into a
proceeding under the Corporate Reorganization Law (Kaisha Kosei
Ho) of Japan to obtain protection from its creditors as part of
the company's restructuring efforts. None of Spansion's
subsidiaries in countries other than the United States and Japan
are included in the U.S. or Japan filings.

Michael S. Lurey, Esq., Gregory O. Lunt, Esq., and Kimberly A.
Posin, Esq., at Latham & Watkins LLP, have been tapped as
bankruptcy counsel.  Michael R. Lastowski, Esq., at Duane Morris
LLP, is the Delaware counsel.  Epiq Bankruptcy Solutions LLC, is
the claims agent.  The United States Trustee has appointed an
official committee of unsecured creditors in the case.  As of
September 30, 2008, Spansion disclosed total assets of
US$3,840,000,000, and total debts of US$2,398,000,000.

Spansion Japan Ltd. filed a Chapter 15 petition on April 30, 2009
(Bankr. D. Del. Case No. 09-11480).  The Chapter 15 Petitioner's
counsel is Gregory Alan Taylor, Esq., at Ashby & Geddes.  It said
that Spansion Japan had US$10 million to US$50 million in assets
and US$50 million to US$100 million in debts.

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


SPEEDUS CORP: Receives and Appeals Nasdaq Notice
------------------------------------------------
Speedus Corp. on January 28, 2010,received notice from Nasdaq,
in the form of a staff determination letter, informing the Company
that it did not meet the terms of the extension granted to the
Company on December 11, 2009, to comply with the stockholders'
equity requirement of Marketplace Listing Rule 5550(b), which
requires the Company to maintain either (1) a minimum of
$2.5 million in stockholders' equity; (2) market value of listed
securities of $35 million; or (3) net income from continuing
operations of $500,000 in the most recently completed fiscal year
or two of the last three most recently completed fiscal years.

On February 2, 2010, Speedus submitted an appeal regarding the
Nasdaq staff determination by requesting a hearing with the Nasdaq
Hearings Panel.  As a result, a hearing has been scheduled for
March 11, 2010, at which time the Panel will consider the plan
Speedus has developed for regaining and sustaining compliance with
the Rule.  The Panel generally issues a decision within 30 to 45
days following a hearing.

While the Panel has the authority to grant the Company up to 180
days from January 28, 2010, to regain compliance with the Rule,
there can be no assurance that the Panel will grant the Company's
request for continued listing.  The Company's securities will
continue to be listed on Nasdaq during this appeal process.

                        About Speedus Corp.

Freehold, New Jersey-based Speedus Corp. (Nasdaq: SPDE) --
http://www.speedus.com/-- operates through its two majority
subsidiaries, Zargis Medical Corp. and Density Dynamics, Inc.


SPO MEDICAL: Completes Restructuring Plan
-----------------------------------------
SPO Medical Inc. said Tuesday it has restructured the Company
operations to focus primarily on licensing its core technology for
non-medical market applications.  A restructuring plan has now
been completed which involved the reduction of the Company's
corporate and manufacturing workforce and a licensing agreement
for the existing medical PulseOx product line.  Going forward, SPO
Medical Inc. will operate as a development and licensing company.
These corporate changes were designed to streamline the
organization and right-size the G&A and overhead structure.

Under this new structure, the PulseOx medical product line will be
marketed by SPO Medical Systems Ltd., a private Israeli company
owned and managed by the original founder of SPO Medical, Mr.
Israel Sarussi.  As per the license agreement, all worldwide
sales, marketing and manufacturing of the PulseOx line has been
transferred to SPO Medical Systems Ltd.  The licensee has retained
much of the workforce previously employed by the Company in
connection with manufacture and marketing of the PulseOx medical
product line.

Michael Braunold, President and Chief Executive Officer of SPO
Medical Inc. commented: "The licensing of our medical technology
and associated PulseOx product line to SPO Medical Systems Ltd.
should enable further growth of our medical product offering in
the market.  As a result, we will be focusing all our corporate
efforts on new non-medical product offerings which relate to
consumer mass-market opportunities.  The licensing agreement and
associated restructuring plan should have no impact on the current
200,000 SPO Medical end-users or worldwide reseller network that
operates in over 40 countries that will now be serviced by SPO
Medical Systems Ltd. -- I have every confidence that the existing
PulseOx product line will be further enhanced by Mr. Sarussi and
his team."

Israel Sarussi, Managing Director of SPO Medical Systems Ltd.
commented: "The opportunity now exists for further enhancement of
the existing PulseOx product line in addition to expanding the
offering by incorporating new medical products and related
technologies going forward.  We look forward to maintaining the
high level of support and commitment to the existing customer base
and to the SPO authorized resellers worldwide."

During 2010, SPO Medical Inc. plans to embark on business
development activities that will focus on various commercial
applications relating to the implementation of reflectance pulse
oximetry for non-medical markets.  Applications include the
consumer sports watch and associated wellness devices, a baby
movement monitor and various other mass-market product
opportunities that could use pulse oximetry in a non-invasive,
convenient manner enabling accurate and effective measurements of
vital sign information.  Mr. Braunold continued; "Commercially, we
believe that our unique technology can attract interest from
various non-medical corporations who are seeking commercial
solutions for mass-market consumer markets; in addition, this
strategy should further contribute to potentially increasing value
for the SPO shareholders."

                         About SPO Medical

SPO Medical Inc. -- http://www.spomedical.com/and
http://www.spobaby.com/-- develops biosensor and microprocessor
technologies for use in portable monitoring devices to capture
life-saving and life-enhancing information within four key
markets: medical care; home and remote-care; sports and wellness;
and safety and security.  Its patented technology uses information
gathered from the reflectance of light on the human blood stream,
in a non-invasive manner, to monitor key vital signs.  The Company
licenses its technologies to appropriate client corporations for
commercialization and distribution.


STALLION OILFIELD: Emerges from Chapter 11 Bankruptcy
-----------------------------------------------------
Stallion Oilfield Services Ltd., on February 2 announced that it
officially emerged from Chapter 11 protection with a stronger
capital structure.

"We have worked hard to make this as painless as possible for all
parties involved.  Not only are we emerging with a much stronger
capital structure, we have an improved balance sheet, paid all of
our vendors in full, and we retained our unparalleled customer
base".

"Stallion has emerged as a leaner, stronger company prepared to
capitalize on the recovering oil and natural gas industry," said
Craig M. Johnson, Stallion's President and Chief Executive
Officer. "We have worked hard to make this as painless as possible
for all parties involved. Not only are we emerging with a much
stronger capital structure, we have an improved balance sheet,
paid all of our vendors in full, and we retained our unparalleled
customer base," Johnson said. "We cannot thank our dedicated
employees enough for making this restructuring a success. It was
truly a team effort."

Stallion's plan of reorganization received unanimous support of
its creditors and equity holders voting for the plan.  The Company
said 100% of the voting claimants voted in favor of the plan.
"This is a significant achievement for the Company; we were able
to complete such a unique transaction over the course of 100 days.
We wouldn't have been able to do this without the support of so
many people who believe in Stallion, including our employees,
customers, and vendors. We are looking forward to a prosperous
future," continued Johnson.

Stallion also named a new board of directors that will include:
Blake Carlson, Gene Davis, Craig Johnson, J. Russell Porter, and
Hobie Smith.

Mr. Davis, chairman of the board, commented, "Leading a company
through a restructuring process is arduous. Craig Johnson and his
management team should be congratulated for their efforts to
ensure a timely and successful exit for Stallion. On behalf of the
entire board, we are enthusiastic for the opportunity to be
involved with a company that is known for its operational
excellence and service quality in the energy sector. We also look
forward to working with the management team to build from this
foundation."

Stallion entered Chapter 11 on October 19, 2009 with a pre-
negotiated restructuring agreement with holders of more than 90%
in principal amount of its secured obligations, more than 74% in
principal amount of its unsecured bridge lenders, and more than
88% in principal amount of its unsecured noteholders, as well as
more than 68% of equity holders.

The Hon. Brendan Shannon of the U.S. Bankruptcy Court for the
District of Delaware confirmed the Company's plan of
reorganization on January 12, 2010. The plan became effective
February 2, 2010.

                        The Chapter 11 Plan

The Plan is based on a consensual deal with the Debtors' key
stakeholders and contemplates a significant de-leveraging of the
Debtors' balance sheets and a full recovery for holders of allowed
general unsecured claims, confirmation of the plan is expected to
occur over a relatively short timeframe.

The Debtors said that they agreed with the lenders and the holders
of the Stallion equity interests with respect to a consensual
restructuring on the terms set forth in the restructuring term
sheet, and formalized by the restructuring and lock-up agreement
dated Oct. 17, 2009.  The Debtors related that they received an
executed restructuring and lock-up agreement from holders of more
than:

   -- 90% of the senior secured claims;

   -- 74% of the bridge loan claims;

   -- 88% of the notes claims; and

   -- 68% of the Stallion equity interests, which ensures that the
      plan has sufficient support to satisfy the confirmation
      requirements under section 1129 of the Bankruptcy Code.

Under the plan, among other things, all holders of senior secured
claims, totaling $245.9 million, will receive either:

   -- its pro rata share of the (i) senior secured paydown of $25
      million cash and  (ii) $220.9 million in first priority
      senior secured debt pursuant to the amended and restated
      senior secured credit agreement; or

   -- payment in full, in cash in the event that the Reorganized
      Debtors enter into new financing.

Holders of unsecured debt comprising bridge loans aggregating
$259.3 million and unsecured notes aggregating $283.9 million will
receive 98% of the stock of reorganized Stallion Oilfield.

Holders of general unsecured claims that are not due and payable
by the plan's effective date, will receive payment in full in cash
of the unpaid portion of their allowed claim.

Holders of interests in Stallion Oilfied Holdings GP, LLC, will
receive 0.0002% of the new common stock, and warrants to purchase
additional stock.  Holders of existing stock in Stallion Oilfield
Holdings, Ltd., will receive 1.9998% of the new common stock, plus
warrants to purchase additional stock.

A full-text copy of the disclosure statement filed November 18,
2009, is available for free at

http://bankrupt.com/misc/StallionOilfield_DiscStatement_Nov18.pdf

A full-text copy of the Plan filed November 18, 2009, is available
for free at

     http://bankrupt.com/misc/StallionOilfield_Plan_Nov18.pdf

                      About Stallion Oilfield

Based in Houston, Texas, Stallion Oilfield Services Ltd. --
http://www.stallionoilfield.com/-- provides wellsite support
services and production & logistics services to the oilfield
with over 1,700 employees in 65 locations.  The Debtors deliver
products and services in the South Texas, Gulf Coast, Ark-La-
Tex, Ft. Worth Basin, Permian Basin, Mid-Continent, Alaska's
Prudhoe Bay, Rocky Mountain and Applachinian Basin regions as
well as to the global offshore industry.

The Company and its affiliates filed for Chapter 11 protection on
Oct. 19, 2009 (Bankr. D. Del. Lead Case No. 09-13562).  The
Debtors selected Jonathan S. Henes, Esq., and Chad J. Husnick,
Esq., at Kirkland & Ellis LLP, as counsel; Daniel J. DeFranceschi,
Esq., and Lee E. Kaufman, Esq., at Richards, Layton & Finger,
P.A., as co-counsel; John R. Castellano, Managing Director of AP
Services, LLC, as restructuring advisor; and Epiq Bankruptcy
Solutions, LLC as claims agent.

Stallion Oilfield listed both assets and debts between
$500 million and $1 billion in its petition.


STEPHEN HILL: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Stephen Hill
        127 E. Greenwood Avenue
        Lansdowne, PA 19050

Bankruptcy Case No.: 10-10732

Chapter 11 Petition Date: January 30, 2010

Court: United States Bankruptcy Court
       Eastern District of Pennsylvania (Philadelphia)

Judge: Eric L. Frank

Debtor's Counsel: Rozalyn Landisburg, Esq.
                  Attorney at Law
                  3400 Red Lion Road, #45 B
                  Philadelphia, PA 19114
                  Tel: (610) 505-7575
                  Fax: (215) 677-2855
                  Email: lrozalyn7345@yahoo.com

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

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

According to the schedules, the Company has assets of $1,779,498,
and total debts of $1,801,220.

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

            http://bankrupt.com/misc/paeb10-10732.pdf

The petition was signed by Mr. Hill.


SUMBRY MORTUARY: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: Sumbry Mortuary, Inc.
          dba Sumbry Mortuary and Florist
        P.O. Box 1769
        Phenix City, AL 36869

Bankruptcy Case No.: 10-80118

Chapter 11 Petition Date: January 25, 2010

Court: United States Bankruptcy Court
       Middle District of Alabama (Opelika)

Judge: William R. Sawyer

Debtor's Counsel: Michael A. Fritz, Sr., Esq.
                  Fritz & Hughes, LLC
                  7020 Fain Park Drive, Suite 1
                  Montgomery, AL 36117
                  Tel: (334) 215-4422
                  Fax: (334) 215-4424
                  Email: bankruptcy@fritzandhughes.com

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

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

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

The petition was signed by Arthur L. Sumbry, funeral director of
the Company.


SYLVAN FRIEDMAN: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Joint Debtors: Sylvan Friedman
               Alynn R. Friedman
               103 Pelican Circle
               Oriental, NC 28571

Bankruptcy Case No.: 10-00600

Chapter 11 Petition Date: January 28, 2010

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

Judge: Randy D. Doub

Debtors' Counsel: David J. Haidt, Esq.
                  Ayers, Haidt & Trabucco, P.A.
                  PO Box 1544
                  New Bern, NC 28563
                  Tel: (252) 638-2955
                  Fax: (252) 638-3293
                  Email: davidhaidt@embarqmail.com

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

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

A list of the Company's 20 largest unsecured creditors is
available for free at:

             http://bankrupt.com/misc/nceb10-00600.pdf

The petition was signed by the Joint Debtors.


TARDY-CONNORS: Updated Case Summary & Creditors List
----------------------------------------------------
Debtor: Tardy-Connors Group, LLC
          dba Moosehead Furniture Company
          dba Moosehead Furniture
        P.O. Box 476
        Newport, ME 04953-0476

Bankruptcy Case No.: 10-10060

Chapter 11 Petition Date: January 21, 2010

Court: United States Bankruptcy Court
       Maine (Bangor)

Debtor's Counsel: Joshua R. Dow, Esq.
                  Pearce & Dow, LLC
                  Two Monument Square, Suite 901
                  P.O. Box 108
                  Portland, ME 04112-0108
                  Tel: (207) 822-9900
                  Fax: (207) 822-9901
                  Email: jdow@pearcedow.com

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

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

A list of the Company's 20 largest unsecured creditors is
available for free at:

             http://bankrupt.com/misc/meb10-10060.pdf

The petition was signed by Joshua Tardy, member of the company.


TELOGY LLC: Gets Interim Okay to Use Cash Collateral
----------------------------------------------------
Telogy, LLC, et al., sought and obtained interim authority from
the U.S. Bankruptcy Court for the District of Delaware to use the
cash collateral securing their obligation to their prepetition
lenders.

Telogy and e-Cycle, LLC, entered into (i) certain Term Loan and
Guaranty Agreement, dated as of July 28, 2006, among Telogy, e-
Cycle, the lenders party thereto (the Term Lenders), and The Bank
of New York Mellon (the Agent), as Administrative Agent for the
Lenders (the Term Loan Agreement); and (ii) certain Revolving
Credit and Guaranty Agreement, dated as of July 28, 2006, among
Telogy, e-Cycle, the lenders party thereto (the Revolving Lenders,
and, together with the Term Lenders, the Lenders), and the Agent,
as Administrative Agent for the Lenders (the Revolving Credit
Agreement, and, together with the Term Loan Agreement, the Secured
Credit Agreements).

The attorneys for the Debtors -- Matthew B. Lunn, Esq., at Young
Conaway Stargatt & Taylor, LLP, and John C. Longmire, Esq., at
Willkie Farr & Gallagher LLP -- explain that the Debtors need the
money to fund their Chapter 11 case, pay suppliers and other
parties.

In exchange for using the cash collateral, the Debtors propose to
grant the Agent and the Lenders additional, replacement and
continuing, valid, binding, enforceable, non-avoidable and
automatically and properly perfected first-priority security
interests in and liens on all of the Debtors' assets.  As
additional adequate protection, the Debtors will grant the Agent
and the Lenders an allowed superpriority expense claim.

The adequate protection liens take the form of (a) payments of
cash in an amount equal to interest under the Secured Credit
Agreements on a current basis, calculated at the applicable non-
default interest rates under the Secured Credit Agreements as in
effect on the Petition Date; (b) payments in cash on a current
basis, promptly, but in no event later than 10 days after the
receipt by the Debtors of an invoice of all fees, costs and
reasonable expenses of the Agent and the Lenders payable under the
Secured Credit Agreements, including the reasonable fees and out-
of-pocket disbursements of the Agent's outside counsel; and (c)
payment of the excess carve-out on the final date.

The liens are subject to a carve-out for U.S. Trustee and Clerk of
Court fees; up to $1,500,000 in fees payable to professional
employed in the Debtors' case; and up to $200,000 in fees of the
committee in pursuing actions challenging the DIP Lenders' lien.

The Debtors promise to provide the Agent and the Lenders weekly
reports.

The final hearing on the Debtors' request to use cash collateral
is set for February 23, 2010, at 12:30 p.m.

Edwards Angell Palmer & Dodge LLP is the counsel to the Agent and
the Lenders.

Union City, California-based Telogy, LLC, filed for Chapter 11
bankruptcy protection on January 24, 2010 (Bankr. D. Delaware Case
No. 10-10206).  Donald J. Bowman, Jr., Esq.; Matthew Barry Lunn,
Esq.; and Robert F. Poppiti, Jr., Esq., at Young, Conaway,
Stargatt & Taylor, LLP, assist the Company in its restructuring
effort.  The Company listed $10,000,001 to $50,000,000 in assets
and $50,000,001 to $100,000,000 in liabilities.

The Company's affiliate, e-Cycle, LLC, filed a separate Chapter 11
bankruptcy petition.


TELOGY LLC: Asks for Court Okay to Auction Assets
-------------------------------------------------
Telogy, LLC, et al., have sought approval from the U.S. Bankruptcy
Court for the District of Delaware for the sale of substantially
all of Telogy's assets, free and clear of all liens, claims,
encumbrances and other interests other than those expressly
assumed by McGrath Rent Corp.

Telogy's need to reduce its debt load and interest expense and the
increasing concerns about the potential deterioration of its
business and concomitant degradation in value has led to its
decision to sell its remaining operations.  After a lengthy
marketing process, Telogy determined that the bid from the
Potential Purchaser was viable opportunity and commenced the
Chapter 11 cases to implement the proposed transaction with
McGrath, subject to a competitive sale process and the
solicitation of higher and/or otherwise better offers (a Sale).
Teology believes that its business isn't of a type that can endure
a prolonged stay in Chapter 11 without significant risk to
Teology's survival.

Any non-assumed interests against or in the purchased assets will
attach to the net proceeds of a Sale, in the order of priority and
with the same validity, force and effect that the interests may
now have against the assets.

Telogy proposes that an auction be held.  The Potential Purchaser
insisted on certain bidding protections, including a $500,430
break-up fee and up to $166,810 expense reimbursement.

Telogy seeks the Court's approval of: (a) assumption of the
Stalking Horse Purchase Agreement, and the Sale of the Purchased
Assets pursuant thereto, free and clear of interests, or the right
to consummate a higher or otherwise better offer or transaction (a
Superior Transaction) with an alternative buyer (an Alternative
Buyer); (b) the institution of certain bidding, auction and notice
procedures for the solicitation and consideration of competing
offers for the purchased assets, including the Break-Up Fee and
Expense Reimbursement payable to the Potential Purchaser; and (c)
the assumption, assignment and/or transfer of certain executor
contracts and unexpired leases to the Potential Purchaser or,
alternatively, to other successful bidder.  Under the terms of the
Stalking Horse Purchase Agreement, the sale to the Potential
Purchaser must close no later than 90 days after the Petition
Date.

The aggregate consideration, pursuant to the Stalking Horse
Purchase Agreement, is (i) $16,681,000, which is subject to
adjustment and which will be applied to the reduction of Telogy's
outstanding liabilities under the existing credit facilities; and
(ii) the assumption by the Potential Purchaser of the assumed
liabilities.

Other interested bidder must present offers that exceed that of
the Potential Purchaser's offer by at least $767,240, which is the
sum of (a) $500,430 (the Break-Up Fee), (b) $166,810 (the maximum
amount of the expense reimbursement), and (c) $100,000 (the
minimum initial bidding increment).  Bids must have minimum
increments of $25,000.

The Debtor has proposed that the deadline for the submission of
bids be at 12:00 noon of this month, and that the auction be
scheduled at 10:00 a.m. of ____ 2010.

Copies of the proposed bidding procedures and the Stalking Horse
Purchase Agreement are available for free at:

   http://bankrupt.com/misc/TELOGY_assetpurchasepact.pdf
   http://bankrupt.com/misc/TELOGY_proposedbiddigprocedures.pdf

                            About Telogy

Union City, California-based Telogy, LLC, filed for Chapter 11
bankruptcy protection on January 24, 2010 (Bankr. D. Delaware Case
No. 10-10206).  Donald J. Bowman, Jr., Esq.; Matthew Barry Lunn,
Esq.; and Robert F. Poppiti, Jr., Esq., at Young, Conaway,
Stargatt & Taylor, LLP, assist the Company in its restructuring
effort.  The Company listed $10,000,001 to $50,000,000 in assets
and $50,000,001 to $100,000,000 in liabilities.

The Company's affiliate, e-Cycle, LLC, filed a separate Chapter 11
bankruptcy petition.


TEUFEL NURSERY: Completes Chapter 11 Reorganization
---------------------------------------------------
Portland Business Journal relates that Teufel Nursery Inc.
completed a Chapter 11 reorganization after obtaining approval for
its reorganization and repayment plan in U.S. Bankruptcy Court in
Oregon.

Under Plan, the Company will make a series of monthly, semi-annual
and annual payments to Textron Financial Corp. until it repays a
$5.9 million debt, including costs and fees.  Furthermore, the
plan repays both secured and unsecured creditors in full from
proceeds from Teufel's ongoing operations, notably Teufel Holly
Farms, report says.

Headquartered in Portland, Oregon, Teufel Nursery, Inc. --
http://www.teufel.com/-- aka Teufel Landscape offers lawn and
gardening services.  The Company filed for Chapter 11 on June 24,
2009, (Bankr. D. Ore. Case No. 09-34880) Robert J. Vanden Bos,
Esq., at Vanden Bos & Chapman represents the Debtor in its
restructuring efforts.  The Debtor has assets and debts both
ranging from $10 million to $50 million.


TITLEMAX HOLDINGS: Merrill Lynch Calls Disclosure Misleading
------------------------------------------------------------
Law360 reports that Merrill Lynch Mortgage Capital Inc. has opened
up a new offensive in its fight against TitleMax Holdings Inc.,
saying the company's disclosure statement is rife with
inaccuracies and misleading statements and calling its first
amended Chapter 11 reorganization plan "patently unconfirmable."

Savannah, Georgia-based Titlemax Holdings LLC dba TitleMax,
TitleBucks, US TitlePawn, American Title, and CheckMax is a
Closely held title-lending company with about 550 locations in
seven states -- Georgia, South Carolina, Tennessee, Mississippi,
Missouri, Virginia and Illinois.  It holds customers' vehicle
titles in exchange for cash.  The Company was founded in 1998 and
has 1,800 employees.  The Company and its affiliates filed for
Chapter 11 protection on April 20, 2009 (Bankr. S. D. Ga. Lead
Case No. 09-40805).  DLA Piper LLP represents the Debtors in its
restructuring efforts.  The U.S. Trustee for Region 21 appointed
seven creditors to serve on the official committee of unsecured
creditors.  Titlemax has assets and debts both ranging from
$100 million to $500 million.


TOUSA INC: Falcone Group Says Creditors' Suit "Unfounded"
---------------------------------------------------------
Arthur Falcone, Chief Executive Officer of The Falcone Group,
issued a statement regarding the TOUSA creditor's committee
lawsuit against Arthur and Ed Falcone and their companies.  Mr.
Falcone said the bankruptcy judge's ruling back in October in
favor of TOUSA against some of Wall Street's biggest financial
institutions was a totally different situation than Falcone's
business dealings and the landbankers dealings with TOUSA.

According to Mr. Falcone, during 2005, TOUSA and entities
controlled by Arthur and Edward Falcone created a joint venture to
buy the homebuilding assets of Transeastern Properties. TOUSA was
the controlling member of that entity and owned the overwhelming
majority of its beneficial interest.

However, at the request of TOUSA, the companies owned by Arthur
and Edward Falcone ended their relationship with the joint venture
in the summer of 2007, having agreed to exchange mutual releases
for any claims they may have against each other.  Additionally,
entities owned and controlled by third parties agreed to close on
the sale of two communities to the joint venture, which had been
previously under contract, at the previously-agreed upon price of
approximately $50 million.

According to the statement, what the TOUSA creditor's committee
lawsuit seeks against Arthur and Ed Falcone and their companies is
merely to set aside the mutual releases which the parties
exchanged in 2007.  Arthur and Ed Falcone have no ownership
interest and were not members or shareholders of any of the
entities -- Independence Land Development 23, LLC, Live Oak
Development II, LLC, or Kendall Land Development, LLC -- from
which the TOUSA creditor's committee is now seeking money damages.
Moreover, the basis of their case is the novel proposition that
TOUSA simply paid too much for the property they agreed to
purchase back in 2004-2005.  They propose that the seller should
bear the risk of the alleged decline in market values, not the
buyer, who agreed to proceed to closing in the summer of 2007
despite the supposed decline in the value of the property.  The
owners of the three entities being sued have indicated that they
intend to contest this proposition vigorously.

The lawsuit also makes reference to a court ruling regarding TOUSA
in October.  "I think that Judge Olson's ruling back in October in
favor of TOUSA against some of Wall Street's biggest financial
institutions was a totally different situation than our business
dealings and the landbankers dealings with TOUSA," Art Falcone
remarked. These transactions were arm's length agreements and not
in any fashion the type of transactions that fraudulent conveyance
law was meant to prohibit. Falcone believes that there is no merit
whatsoever to the TOUSA creditor's committee suit.

"Just because in hindsight TOUSA's creditors think they overpaid,
it doesn't mean they can now go to the courts and demand their
money back. Imagine if you bought your home a few years ago for
$300,000 and now it's worth $150,000. You can't just go back to
the seller and demand your money back. That's the market."

                      About The Falcone Group

Arthur Falcone is CEO of The Falcone Group --
http://www.falconegroup/-- with over 30 years of executive
experience.  His proven track-record has led to the company's
success today as a vertically integrated real estate and land
development organization, and has successfully established the
group as an internationally-recognized real estate corporation
with over 30,000 residential lots developed and over one billion
dollars in sales.

                        About Tousa Inc.

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

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

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


TRIPLE J OILFIELD: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Triple J Oilfield Services, Inc.
        P.O. Box 1665
        Mission, TX 78572

Bankruptcy Case No.: 10-70048

Chapter 11 Petition Date: January 25, 2010

Court: United States Bankruptcy Court
       Southern District of Texas (McAllen)

Judge: Richard S. Schmidt

Debtor's Counsel: Eduardo V. Rodriguez, Esq.
                  Malaise Law Firm
                  1265 N Expressway 83
                  Brownsville, TX 78521
                  Tel: (956) 547-9638
                  Fax: (956) 547-9630
                  Email: evrcourt@malaiselawfirm.com

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

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

According to the schedules, the Company has assets of $3,978,561,
and total debts of $4,336,554.

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

             http://bankrupt.com/misc/txsb10-70048.pdf

The petition was signed by Jimmy J. Jones, president of the
Company.


TRU PAK INC: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: Tru Pak, Inc.
        1808 10th Street, Suite 100
        Plano, TX 75074

Bankruptcy Case No.: 10-40197

Chapter 11 Petition Date: January 21, 2010

Court: United States Bankruptcy Court
       Eastern District of Texas (Sherman)

Debtor's Counsel: Christopher J. Moser, Esq.
                  Quilling, Selander, Cummiskey & Lownds
                  2001 Bryan Street, Suite 1800
                  Dallas, TX 75201-3005
                  Tel: (214) 871-2100
                  Email: cmoser@qsclpc.com

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

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

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

The petition was signed by Kurt H. Ruppman Sr., chief executive
officer of the Company.


TTM TECHNOLOGIES: S&P Affirms Corporate Credit Rating at 'BB-'
--------------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'BB-'
corporate credit rating on Santa Ana, California-based TTM
Technologies Inc. and removed the rating from CreditWatch with
negative implications, where it was placed on Nov. 16, 2009,
following the company's announcement that it had agreed to acquire
the printed circuit board operations of Hong Kong-based Meadville
Holdings Ltd.  S&P also affirmed the 'BB-' issue-level rating on
the company's $175 million senior unsecured note issue and keeping
the '4' recovery rating unchanged.  The ratings outlook is stable.

"The rating action reflects S&P's expectation that TTM will
successfully integrate the acquired business, and that its
financial profile will remain well within the rating range over
the intermediate term," said Standard & Poor's credit analyst
Bruce Hyman.  A consortium of Asian banks has committed to funding
the Meadville acquisition, which is likely to close by the end of
the March 2010 quarter.


TWENTY ONE HIGH: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: Twenty One High, L.P.
        1913 Justin Road, Suite 113
        Flower Mound, TX 75028

Bankruptcy Case No.: 10-30667

Chapter 11 Petition Date: January 29, 2010

Court: United States Bankruptcy Court
       Northern District of Texas (Dallas)

Judge: Barbara J. Houser

Debtor's Counsel: Howard Marc Spector, Esq.
                  Spector & Johnson, PLLC
                  12770 Coit Road
                  Banner Place, Suite 1100
                  Dallas, TX 75240
                  Tel: (214) 365-5377
                  Fax: (214) 237-3380
                  Email: hspector@spectorjohnson.com

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

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

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

The petition was signed by Mitch Vexler.


UNITED GAS: Case Summary & 1 Largest Unsecured Creditor
-------------------------------------------------------
Debtor: United Gas and Food, Inc.
        1481 Meadowview Rd
        Sacramento, CA 95832

Bankruptcy Case No.: 10-21453

Chapter 11 Petition Date: January 22, 2010

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

Judge: Christopher M. Klein

Debtor's Counsel: John David Maxey, Esq.
                  13 SierraGate Plaza #B
                  Roseville, CA 95678
                  Tel: (916) 786-7272

Estimated Assets: Not Stated

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

The Debtor identified Insight Environmental Engineering (c/o
Michael Germain, Esq.) with a civil judgement debt claim for
$175,225 as its largest unsecured creditor. A full-text copy of
the Debtor's petition, including a list of its largest unsecured
creditor, is available for free at:

             http://bankrupt.com/misc/caeb10-21453.pdf

The petition was signed by Muhammad Latif, operator/manager of the
Company.


US AIRWAYS: Moody's Affirms Corporate Family Rating at 'Caa1'
-------------------------------------------------------------
Moody's Investors Service affirmed the Caa1 Corporate Family and
Probability of Default ratings of US Airways Group, Inc., and the
SGL-4 Speculative Grade Liquidity rating.  Moody's also affirmed
its B3 rating on the $1.17 Billion Senior Secured First Lien Term
Loan due 2014, the ratings on the company's Industrial Revenue
Bonds and the ratings on all but two tranches of the Enhanced
Equipment Trust Certificates issued by US Airway's subsidiary, US
Airways, Inc., or its subsidiary, America West Airlines, LLC.  The
ratings on two junior tranches of EETC's were downgraded in
recognition of weaker than expected loan to value ratios; the C
tranche of the US Airways, Inc. Series 2000-3 EETC was lowered to
Caa1 from B3 and the B tranche of the America West Airlines, LLC
Series 1998-1 was lowered to B1 from Ba3.  The outlook remains
negative.

The Caa1 Corporate Family rating reflects Moody's belief that
despite recent improvement, US Airways earnings and cash flow
remain highly exposed to weak economic trends and variability in
the cost of fuel.  Financial metrics have strengthened, but with
Debt/EBITDA above 10x and EBIT/Interest below 1x, are still not
supportive of a higher rating.  US Airways operating performance
has improved in a number of areas including on-time performance
and customer complaints.  Credit metrics could trend positively in
2010 if US Airways achieves positive free cash flow as it guided
on the January 28, 2009 earnings call.  However, Moody's believes
that a modest recovery of economic growth and persistent high
unemployment, could constrain the pace, scope and durability of
the recovery of airline yields as 2010 progresses.  Moreover, with
a lesser portion of its business derived from business and
international travel, US Airways might not benefit as much as some
of its peers from an economic recovery.

The negative outlook considers the company's greater exposure to
fuel price hikes than other carriers, as US Airways does not have
any fuel hedges in place at the current time.  Moreover, while US
Airways has improved its liquidity profile over the last several
months through certain financing initiatives and aircraft
deferrals, its unrestricted cash is only about 15% of total
revenue, which provides less cushion than other carriers to absorb
unplanned calls on cash that could arise if fuel prices increase
or if traffic and/or yields trail the company's forecasts.

The downgrades of the two EETC tranches consider the value of the
A320 aircraft that collateralize these instruments in relation to
the current outstanding debt balances.  The revised ratings of
these tranches align their ratings to similarly-classed tranches
of other of US Airways EETC's that have the same aircraft model
and type and similar vintage and loan-to-values.

The outlook could be stabilized if unrestricted cash to revenue
approaches 20% in conjunction with continued improvement in
operating metrics.  Sustained positive free cash flow generation
that approaches 4% of debt, Debt to EBITDA decreasing to the range
of 6.0 times and/or FFO + Interest to Interest in excess of 1.8
times could also result in a stabilization of the outlook.

The ratings could be downgraded if US Airways is unable to sustain
unrestricted cash above $1.3 billion.  The inability to maintain
competitive yields or control operating costs, including cost
increases related to fuel price increases could also exert
downwards rating pressure.  Debt to EBITDA that is sustained above
8.0 times, FFO + Interest to Interest below 1.5 times or EBITDA
margin sustained below 15% could also result in a downgrade.

The principal methodology used in rating US Airways was Moody's
Global Passenger Airlines, published in March 2009 and available
on www.moodys.com in the Rating Methodologies sub-directory under
the Research & Ratings tab.  Other methodologies and factors that
may have been considered in the process of rating US Airways can
also be found in the Rating Methodologies sub-directory on Moody's
website.

The last rating action was on July 23, 2008, when Moody's
downgraded the corporate family and probability of default ratings
to Caa1 from B3.

Downgrades:

Issuer: America West Airlines, Inc.

  -- Senior Secured Enhanced Equipment Trust, Downgraded to B1
     from Ba3

Issuer: US Airways, Inc.

  -- Senior Secured Enhanced Equipment Trust, Downgraded to Caa1
     from B3

US Airways Group, Inc., based in Tempe, Arizona, through its
subsidiaries operates one of the largest airlines in the U.S. with
service throughout the U.S. as well as Canada, the Caribbean,
Latin America and Europe.


VALASSIS COMMUNICATIONS: Moody's Reviews 'B1' Corp. Family Rating
-----------------------------------------------------------------
Moody's Investors Service placed Valassis Communications, Inc.'s
B1 Corporate Family Rating, B1 Probability of Default Rating and
associated debt ratings on review for possible upgrade.  The
review follows the company's announcement that it had reached a
settlement of its outstanding lawsuits with News America
Marketing, a division of News Corporation (Baa1 senior unsecured),
whereby NAM will pay Valassis $500 million in cash and enter into
a 10-year agreement to distribute free standing inserts through
Valassis' share mail platform.  The review reflects the potential
that the settlement proceeds and incremental earnings from the
distribution agreement with NAM will reduce Valassis' leverage.

On Review for Possible Upgrade:

Issuer: Valassis Communications, Inc.

  -- Corporate Family Rating, Placed on Review for Possible
     Upgrade, currently B1

  -- Probability of Default Rating, Placed on Review for Possible
     Upgrade, currently B1

  -- Senior Secured Bank Credit Facility, Placed on Review for
     Possible Upgrade, currently Ba2

  -- Senior Secured Conv./Exch.  Bond/Debenture, Placed on Review
     for Possible Upgrade, currently Ba2

  -- Senior Unsecured Regular Bond/Debenture, Placed on Review for
     Possible Upgrade, currently B3

Outlook Actions:

Issuer: Valassis Communications, Inc.

  -- Outlook, Changed To Rating Under Review From Stable

Moody's will evaluate in the review Valassis' intended use of the
after-tax settlement proceeds, the benefits of the shared mail
distribution agreement, and the outlook for Valassis' operations
in a stabilizing economic environment.  A meaningful improvement
in credit metrics would likely lead to an upgrade.  Moody's will
consider Valassis' strategies to minimize the tax consequences of
the settlement, the restrictions on the use of the cash in the
company's debt agreements, and how the balance between shareholder
and bondholder interests will affect the company's decisions on
utilizing the cash.  Moody's will also evaluate the effect that
the settlement and permanent injunction related to certain
business practices at issue in the lawsuits will have on Valassis'
ability to compete in the free standing insert business.

Moody's last rating action on Valassis occurred on November 20,
2008, when it changed the company's rating outlook to stable from
positive.

Valassis' 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 and tolerance for risk.  These
attributes were compared against other issuers both within and
outside of Valassis' core industry and Valassis' ratings are
believed to be comparable to those of other issuers of similar
credit risk.

Valassis Communications, Inc., headquartered in Livonia, MI,
offers a wide range of promotional and advertising products
including shared (direct) mail (about 57% of LTM 9/30/09 revenue),
free-standing inserts (FSI; 16%), neighborhood targeting (20%),
sampling, coupon clearing and consulting and analytic services.
Annual revenue approximates $2.3 billion.


VALASSIS COMMUNICATIONS: S&P Puts 'B+' Rating on Positive Watch
---------------------------------------------------------------
Standard & Poor's Ratings Services placed its 'B+' corporate
credit rating for Livonia, Michigan-based Valassis Communications
Inc., along with all associated issue-level ratings, on
CreditWatch with positive implications.

The CreditWatch listing reflects Valassis' announcement on
Saturday, Jan. 30, that it would receive $500 million, before
taxes, in a settlement reached with News America Marketing, a
subsidiary of News Corp.  While Valassis has not yet announced how
it will use the proceeds, net of taxes, the settlement represents
a significant amount of liquidity for the company.

In addition to the settlement, News America also entered into a
10-year shared mail distribution agreement with Valassis, the
specifics of which are not immediately clear.  In November, S&P
cited S&P's expectation that given the company's continued focus
on cost management, EBITDA would likely remain flat in 2010,
although the 'B+' corporate credit rating incorporates a degree of
profit volatility.  S&P's review will also focus on Valassis'
operating performance in the 2009 fourth quarter and its
expectations for 2010.

"In resolving the CreditWatch listing, S&P will review the
company's plans for the settlement proceeds and the current
operating environment," said Standard & Poor's credit analyst Liz
Fairbanks.  "Our review will also focus on S&P's expectations for
the company's performance in 2010."


WEST POINT: Case Summary & 11 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: West Point Log Corporation
        POB 170
        West Point, VA 23181-0170

Bankruptcy Case No.: 10-30453

Chapter 11 Petition Date: January 25, 2010

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

Judge: Chief Judge Douglas O. Tice Jr.

Debtor's Counsel: Robert A. Canfield, Esq.
                  Canfield, Baer, Heller & Johnston, LLP
                  2201 Libbie Ave., Suite 200
                  Richmond, VA 23230
                  Tel: (804) 673-6600
                  Fax: (804) 673-6604
                  Email: bcanfield@canfieldbaer.com

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

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

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

             http://bankrupt.com/misc/vaeb10-30453.pdf

The petition was signed by Dean L. Greer, president of the
Company.


WILLIAM HOLSINGER: Case Summary & 10 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: William G. Holsinger
        4540 Bee Ridge Road
        Villa No. 6
        Sarasota, FL 34233

Bankruptcy Case No.: 10-01878

Chapter 11 Petition Date: January 29, 2010

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

Judge: Catherine Peek McEwen

Debtor's Counsel: Melody D. Genson, Esq.
                  Melody D Genson, PA
                  2750 Ringling Boulevard, Suite 3
                  Sarasota, FL 34237
                  Tel: (941) 365-5870
                  Fax: (941) 365-5872
                  Email: melodydgenson@verizon.net

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

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

A full-text copy of Mr. Holsinger's petition, including a list of
his 10 largest unsecured creditors, is available for free at:

             http://bankrupt.com/misc/flmb10-01878.pdf

The petition was signed by Mr. Holsinger.


WILMINGTON TRUST: S&P Cuts Counterparty Credit Ratings to 'BB+/B'
-----------------------------------------------------------------
Standard & Poor's Ratings Services said that it lowered its
counterparty credit ratings on Wilmington Trust Corp. to 'BB+/B'
from 'BBB-/A-3', and on its main banking subsidiary, Wilmington
Trust Co. DE, to 'BBB-/A-3' from 'BBB/A-2.'  The outlooks are
negative.

The downgrades follow Wilmington's report of a large rise in
nonperforming assets in the 2009 fourth quarter, stemming mainly
from problematic residential construction loans in its Delaware
market.

"Although S&P has been very focused on Wilmington's high exposure
to construction lending and potentially volatile trends, the size
of this quarterly rise was larger than S&P anticipated when S&P
lowered Wilmington's counterparty rating by one notch in
December," said Standard & Poor's credit analyst Barbara
Duberstein.  "We continue to believe that Wilmington is vulnerable
to possible spikes in NPAs and NCOs into 2010 because of both its
high exposure to commercial real estate and to large borrower
relationships with developers."

Positively, however, Wilmington reported solid pre-provision
earnings in the fourth quarter, supported by its corporate trust
and wealth management fee-based businesses.


W.R. GRACE: Reports $46.4 Million Net Income for Q4 2009
--------------------------------------------------------
W. R. Grace & Co. (NYSE: GRA) announced its financial results for
the fourth quarter and year ended December 31, 2009.

Highlights for the fourth quarter include

    * Sales were $678.3 million compared with $768.4 million in
      the prior year quarter, a decrease of 11.7% including the
      effects of the deconsolidation of the ART joint venture.

    * Gross profit percentage increased to 36.6% from 27.2% in the
      prior year quarter and 34.8% in the third quarter of 2009.

    * Core EBIT grew to $76.4 million, an increase of 61.5%
      compared with the prior year quarter.

    * Grace net income was $46.4 million, an increase of 6.9%
      compared with the prior year quarter.

For the full year:

    * Adjusted operating cash flow was $446.5 million, an increase
      of 14.6% from the prior year.

    * Core EBIT return on invested capital increased to 22.3% from
      22.1% in the prior year.

"I am proud of our performance in 2009," said Fred Festa, Grace's
Chairman, President and Chief Executive Officer.  "We acted
quickly in one of the worst operating environments in a generation
to build a leaner, more profitable company.  We aggressively
reduced costs, decreased working capital intensity, and realigned
our product portfolio to increase gross profit margin and return
on invested capital in sustainable ways.  Our performance reflects
the quality of our products, the strength of our customer
relationships and the engagement of all of our employees. Grace is
well positioned for the opportunities and challenges of 2010."

                      CHAPTER 11 PROCEEDINGS

On September 19, 2008, Grace filed a Joint Plan of Reorganization
as well as several associated documents, including a disclosure
statement, with the Bankruptcy Court.  The Joint Plan is
consistent with the terms of the previously announced settlements
of Grace's asbestos personal injury liability and claims related
to its former attic insulation product, and requires the
establishment of two asbestos trusts under Section 524(g) of the
United States Bankruptcy Code to which all present and future
asbestos-related claims would be channeled.

Confirmation hearings on the Joint Plan concluded in January 2010.
Confirmation and consummation of the Joint Plan are now subject to
the findings of the Bankruptcy Court and the District Court for
the District of Delaware and the satisfaction of other conditions,
many of which are outside Grace's control. Until such findings are
made and the conditions to consummation of the Joint Plan are
satisfied or waived, the timing of Grace's emergence from Chapter
11 will be uncertain. Subject to this uncertainty, Grace is
preparing to consummate the Joint Plan in June 2010.

Chapter 11 expenses, net of filing entity interest income, were
$11.6 million in the fourth quarter compared with $17.4 million in
the prior year quarter.  Chapter 11 expenses, net of filing entity
interest income, were $48.0 million for the year ended December
31, 2009 compared with $65.8 million in the prior year.

A full-text copy of Grace's Earnings Release is available for free
at http://researcharchives.com/t/s?5006

                         About W.R. Grace

Headquartered in Columbia, Maryland, W.R. Grace & Co. (NYSE:GRA)
-- http://www.grace.com/-- supplies catalysts and silica
products, especially construction chemicals and building
materials, and container products globally.

The Company and its debtor-affiliates filed for Chapter 11
protection on April 2, 2001 (Bankr. D. Del. Case No. 01-01139).
David M. Bernick, P.C., Esq., at Kirkland & Ellis, LLP, and Laura

Davis Jones, Esq., at Pachulski Stang Ziehl & Jones, LLP,
represent the Debtors in their restructuring efforts.  The Debtors
hired Blackstone Group, L.P., for financial advice.
PricewaterhouseCoopers LLP is the Debtors' accountant.  Stroock &
Stroock & Lavan, LLP, and Duane Morris, LLP, represent the
Official Committee of Unsecured Creditors.  The Creditors
Committee tapped Capstone Corporate Recovery LLC for financial
advice.  David T. Austern, the legal representative of future
asbestos personal injury claimants, is represented by Orrick
Herrington & Sutcliffe LLP and Phillips Goldman & Spence, PA.
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, and Marla
R. Eskin, Esq., at Campbell & Levine, LLC, represent the Official
Committee of Asbestos Personal Injury Claimants.  The Asbestos
Committee of Property Damage Claimants tapped Scott Baena, Esq.,
and Jay M. Sakalo, Esq., at Bilzin Sumberg Baena Price & Axelrod,
LLP, to represent it.  Thomas Moers Mayer, Esq., at Kramer Levin
Naftalis & Frankel, LLP, represents the Official Committee of
Equity Security Holders.

W.R. Grace and its debtor affiliates, with the support of the
Official Committee of Asbestos Personal Injury Claimants, the
Asbestos PI Future Claimants' Representative and the Official
Committee of Equity Security Holders, have submitted a proposed
Chapter 11 plan of reorganization.  The Chapter 11 plan is built
around an April 2008 settlement for all present and future
asbestos personal injury claims, and a subsequent settlement for
asbestos property damage claims.  The Plan confirmation hearing
wrapped up on January 25.

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


XERIUM TECHNOLOGIES: Extends Waivers until March 1
--------------------------------------------------
Xerium Technologies, Inc., has secured from certain of its lenders
an extension of its existing temporary loan covenant waivers until
March 1, 2010.  The lenders have extended the existing loan
covenant waivers in order to facilitate continued negotiations for
a comprehensive recapitalization of the Company.

Pursuant to the extension, certain lenders have agreed to extend
the previous waivers of any defaults resulting from the Company's
failure to comply with certain financial covenants under its
credit agreement for the quarters ended September 30, 2009 and
December 31, 2009, and to waive any defaults under agreements
creating the Company's existing hedging obligations and to extend
the forbearance thereof.

"We appreciate the support and commitment of our lenders as we
work within the prescribed framework to finalize an agreement,"
commented Stephen R. Light, Xerium's Chairman, CEO and President.
"We are eager to put this debt restructuring behind us as we
continue to move forward as a more competitive and operationally
efficient organization."

"We continue to caution you that there can be no assurance that we
will complete these negotiations in the time frame specified and
no assurance that the required one hundred percent of lenders will
vote in favor of any transaction substantially consistent with the
framework in order to implement the recapitalization without court
assistance."

                     About Xerium Technologies

Xerium Technologies, Inc., is a leading global manufacturer and
supplier of two types of consumable products used primarily in the
production of paper: clothing and roll covers.  The Company, which
operates around the world under a variety of brand names, utilizes
a broad portfolio of patented and proprietary technologies to
provide customers with tailored solutions and products integral to
production, all designed to optimize performance and reduce
operational costs.  With 32 manufacturing facilities in 13
countries around the world, Xerium has approximately 3,300
employees.


ZAJAC FARMS: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: Zajac Farms, a Partnership
        81 Corby Road
        Factoryville, PA 18419

Bankruptcy Case No.: 10-00443

Chapter 11 Petition Date: January 21, 2010

Court: United States Bankruptcy Court
       Middle District of Pennsylvania (Wilkes-Barre)

Judge: John J. Thomas

Debtor's Counsel: John J. Martin, Esq.
                  Law Offices John J. Martin
                  1022 Court Street
                  Honesdale, PA 18431
                  Tel: (570) 253-6899
                  Fax: (570) 253-6988
                  Email: jmartin@martin-law.net

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

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

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

The petition was signed by William Zajac, partner of the Company.


* Fitch Says Municipal Bankr. Consideration a Grave Credit Concern
------------------------------------------------------------------
Fitch Ratings says distressed municipal governments that consider
bankruptcy protection will trigger a formal inquiry by Fitch.

"A municipality's consideration of filing for bankruptcy
protection is a grave credit concern"

"A municipality's consideration of filing for bankruptcy
protection is a grave credit concern," said Richard Raphael, Group
Managing Director and head of U.S. Public Finance at Fitch. "It
indicates not only severe financial stress but also a willingness
to compromise the credit standing of bondholders."

Fitch believes that the more bankruptcy is publicly discussed as
an option for financial relief, the more its tarnish wears off,
increasing the likelihood of its actual use. The short report also
suggests the potential broader implications of the City of Vallejo
bankruptcy.

The comment, 'The Perils of Considering Municipal Bankruptcy' is
available at http://www.fitchratings.com/


* Sec. 363 Sales May Not Always Yield Best Return, Expert Says
--------------------------------------------------------------
U.S. bankruptcy practices have entered a new paradigm with the
widespread embrace of so-called "Section 363" sales -- greatly
sped up transactions in which assets sell free of liens and other
claims, and with a hearing rather than a full vote by creditors.
But when banks and lenders place too much emphasis on these sales
out of an irrational "need for speed," they risk losing sight of
the ultimate goal of any bankruptcy proceeding: maximizing
returns, writes Terrence Corrigan, managing director of Abacus
Advisers, in the January/February issue of ABF Journal, a leading
publication for commercial finance professionals.

In a piece titled "Not so fast: Do quick-and-easy 'Section 363'
sales always yield the best return on collateral?", Mr. Corrigan
acknowledges the role these sales have played in the recent
bankruptcies of a litany of cash-strapped businesses, including
Lehman Brothers, the Chicago Cubs, Filene's Basement, Velocity
Express, GM, Chrysler and Midway Games.  But Mr. Corrigan, who has
been involved in bankruptcy and creditors' rights matters for more
than 25 years as an attorney, consultant and lecturer, also points
to some of the rarely discussed downsides of this fast-track
approach to bankruptcy sales.

"Once invoked in only a discrete minority of cases, these
expedited sales are fast becoming the preferred way of monetizing
assets," he notes.  "Because legal fees and other costs can stack
up during a lengthy Chapter 11 reorganization, some asset-based
lenders might welcome this trend, reasoning that quicker sales
ultimately will translate into maximum return on collateral.  In
reality, however, Section 363 is anything but a one-size-fits-all
solution."

In a traditional Chapter 11 reorganization, for example, debtors
enjoy protections that prevent competitors from stepping in and
filing alternative plans.  The process does tend to be slow, but
with a few exceptions it is quite difficult to upset the plan once
it is underway.  "Section 363, by contrast, is far less tidy," Mr.
Corrigan writes.  "As debtors race to secure a bid, they might
well offer their favorite suitor a few too many bid concessions
like generous expense reimbursements or breakup fees or structural
requirements.  This can expose the process to charges of being
rigged in the bidder's favor.  If the court buys these arguments,
it is back to square one for all parties involved."  As an
example, Mr. Corrigan cites the fits-and-starts sale of Polaroid:
the process took five months after the court set aside the auction
results twice.

Parties' lingering concerns also are easier to address in a
traditional Chapter 11 plan, he maintains.  "If you are a pre-
petition lender in a Section 363 sale, it is true that the
proceeds are available to you once the assets are sold, but
certain issues might come back to haunt the deal, such as whether
the lender was partly to blame for the demise of the company," Mr.
Corrigan writes.  "Lawsuits could be filed with a view toward
subordinating or disallowing all or a portion of the secured
lender's claim."

Nor are all Section 363 sales created equal. Buyers, for example,
vary in their level of eagerness to participate in auctions and
their preparedness to close a deal, Mr. Corrigan observes.  "For
some buyers, Section 363 sales move too fast and they are unable
to submit their highest bid on the court-ordered timetable.  For
others, they are simply unwilling to participate in an unseemly
and widely publicized auction for the debtor's assets," he writes.
"In both situations, the likely result is less value being
realized for the debtor's assets.  Further, a Section 363 bid that
is conditioned upon either financing or due diligence makes little
sense for creditors, debtors and courts.  And yet, some would-be
buyers do indeed submit bids despite having plans to spend, say,
30 more days working on the bank loan, or 60 more days finishing
up their due diligence."

In the piece, Mr. Corrigan also points to one of the primary
drivers of the Section 363 trend -- the extreme caution that has
come to dominate lending amid the global credit crisis.  He notes
that banks have grown reluctant to make debtor-in-possession (DIP)
loans, even though these have historically ranked among the safest
possible investments.  DIP loans enable distressed retailers to,
say, continue operating through the holidays and thereby liquidate
more merchandise, or allow manufacturers to pay the rent, make
payroll and keep the lights on as they reorganize.

"It is a bad time to be a borrower, of course, but it is an even
worse time to be a borrower in bankruptcy," Mr. Corrigan writes.
"If you are a Filene's Basement or a Chrysler and you cannot
obtain DIP financing, handing the keys to the bankruptcy judge is
not an option. You do have to liquidate those assets somehow, and
so you are all but forced to hold a fire sale."

Thus, in many instances, banks are essentially forcing the quick-
and-easy route.  While it is perhaps understandable that many
banks are skittish about financing drawn-out Chapter 11
reorganizations, they ought to think twice about their
conservative approach to lower-risk DIP loans, Mr. Corrigan
argues.

"In the long run, a larger menu of bankruptcy options is in the
best interest of banks, trade creditors and debtors alike," he
writes.  "In situations where there is a degree of time-urgency,
moreover, a Section 363 sale might not be the only option.
Prepackaged bankruptcies, whereby debtors win the binding consent
of creditors prior to filing under Chapter 11, or pre-negotiated
bankruptcies, whereby most of the major constituencies are in
place prior to the filing, offer many of the same advantages as
traditional Chapter 11 reorganizations.  And yet, they can be just
as fast as 363 sales."

The point, he concludes, is not to push for Section 363 sales in
all cases.  Rather, Mr. Corrigan writes, "maximizing collateral
value at the time of sale is the ultimate imperative for secured
lenders.  They should never allow that strategic goal to be
eclipsed by an irrational 'need for speed.'"

                       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.


* Brown Rudnick Elects London & New York Associates to Partnership
------------------------------------------------------------------
Brown Rudnick has elected four attorneys to the partnership:
Patrick Elliot, Diane M. Nardi, Gordon Z. Novod and Daniel J.
Saval.  Among the new partners is one British lawyer practicing in
Brown Rudnick's London office, as well as attorneys in the Firm's
New York office.

Brown Rudnick's CEO Joseph F. Ryan said, "Our Firm's reputation is
rooted in the excellence of our lawyers.  Each of our new partners
brings to the Firm the hallmarks of success -- legal acumen,
superior client service, business savvy and good corporate
citizenship.  We appreciate their overall contributions and
welcome them to the partnership."

Patrick Elliot represents clients in matters relating to
insolvency, restructuring and commercial litigation.  He acts for
hedge funds, insolvency practitioners, private equity houses,
corporate, technology and media clients.  His work includes
contractual, intellectual property, trust, employment and property
disputes, antecedent transactions and directors' breaches of duty.
He has advised clients on making recoveries from the Lehman group
and in the Enron and TXU CVAs, in relation to the Cross-Border
Insolvency Regulations 2006, attempted guarantee stripping in a
CVA, breach of trust, schemes of arrangement, MVLs, unfair
prejudice petitions, administration applications, arbitrations,
dishonest assistance, charge holder claims, transfers of IPRs,
ROT, and misfeasance.

Diane M. Nardi's practice encompasses complex commercial
litigation matters, including breach of contract actions,
intellectual property matters, partnership disputes and federal
civil RICO defense.  Through her work with the New York chapter of
Volunteer Lawyers for the Arts and in conjunction with the Firm's
Center for the Public Interest, she provides legal assistance, on
a pro bono basis, to artists who are unable to afford private
counsel.  Similarly, Ms. Nardi manages the Manhattan Legal
Services/Brown Rudnick Summer Unemployment Insurance Pro Bono
Program, which assists indigent individuals in New York who are
appealing the denial of their unemployment benefits.

Gordon Z. Novod represents creditors' committees, bondholders,
distressed investors, lenders, indenture trustees, trade
creditors, debtors, licensors, and other parties-in-interest in
bankruptcy-related proceedings, out-of-court restructurings, and
distressed asset and debt transactions.  His industry experience
spans the automotive, construction, energy, entertainment, gaming,
manufacturing, and retail sectors.  He has drafted and negotiated
all aspects of plans of reorganization and has negotiated debtor-
in-possession financing and cash collateral use, as well as asset
sale-related matters.  He also advises clients on complex
corporate and credit documents, including indentures, credit
agreements, intercreditor agreements, security and sale-leaseback
agreements, and other documents related to lending transactions.

Daniel J. Saval focuses his practice in the area of corporate
restructuring and creditors' rights.  He frequently represents
official and ad hoc committees, major creditors, indenture
trustees and other significant parties in all aspects of complex
Chapter 11 cases and out-of-court restructuring transactions.  He
has experience in negotiating and documenting Chapter 11 plans and
financing arrangements, contested DIP financing, valuation and
plan confirmation proceedings, cross-border insolvency
proceedings, and a broad range of bankruptcy litigation matters.
He also has experience in complex bond indenture litigation.

                     About Brown Rudnick LLP

Brown Rudnick -- http://www.brownrudnick.com-- is an
international law firm with offices in the United States and
Europe.  The firm represents clients from around the world,
providing business-focused solutions that address today's ever-
changing, ever-demanding competitive marketplace.  With an
entrepreneurial and collaborative mindset, Brown Rudnick offers a
broad slate of capabilities and talents in areas that include:
Bankruptcy & Corporate Restructuring, Complex Litigation, Finance,
Corporate, Intellectual Property, Real Estate, Government
Contracts, Government Law & Strategies, Energy, and Health Law.

The Brown Rudnick Center for the Public Interest --
http://www.brownrudnickcenter.com-- is a measure of the Firm's
strong commitment to the community and serves as an umbrella
entity encompassing the Firm's pro bono legal work, charitable
giving, community involvement and public interest efforts.


* Greenberg Traurig Expands Business Reorganization
---------------------------------------------------
The international law firm Greenberg Traurig, LLP disclosed that
Lawrence E. Rifken has joined its Tysons Corner office as a
shareholder to lead its Virginia and Washington, D.C. region
Business Reorganization and Bankruptcy Practice.  Previously he
was a partner with McGuire Woods LLP.

Rifken has more than 20 years of experience in the area of
bankruptcy and corporate restructuring.  His emphasis is on
commercial bankruptcy, commercial and real estate workouts.
Rifken represents debtors, creditors, creditors' committees,
financial institutions, venture capital funds, investors, and
acquirers in all areas of bankruptcy and workout-related work.  He
also has significant experience in fraud and Ponzi cases and
leading fraud and forensic investigations.  Rifken regularly
serves as clients' designated representative on creditors'
committees and has served as chairman of four national committees.

"This move was a great opportunity. It allows me to lead
regionally and to continue to grow my national bankruptcy practice
and serve my clients' diverse needs," said Rifken.  John T.
Farnum, who also represents clients in bankruptcy proceedings and
workout-related matters, has joined as an associate.

"Over the past 10 years, our office has grown by strategically
bringing in highly experienced and entrepreneurial professionals
who offer deep and diverse experience across a variety of
practices, like Larry and John," said Jeffrey R. Houle, Co-
Managing Shareholder of Greenberg Traurig's Tysons Corner office,
which has more than 40 attorneys.

Greenberg Traurig offers clients the resources and reach of one of
the country's largest bankruptcy practices, with more than 90
bankruptcy attorneys located across the country and supported by
the firm's international platform of approximately 1775 attorneys.

"Larry's very impressive background and resume of national
bankruptcy case representations, as well as his experience as a
former member of the Virginia State Bar Bankruptcy Law Section
Board of Governors and two-time President of the Northern Virginia
Bankruptcy Bar Association, complements one of the leading
bankruptcy practices in the United States," Keith J. Shapiro, the
Co-Chair of Greenberg Traurig's national Business Reorganization
and Bankruptcy Practice.

"Larry and John bring sound advice, innovative and strategic
thinking, and a whole new practice to our Tysons Corner office,"
said Mark J. Wishner, Co-Managing Shareholder of Greenberg
Traurig's Tysons Corner office.


* Upcoming Meetings, Conferences and Seminars
---------------------------------------------

January 27-29, 2010
  TURNAROUND MANAGEMENT ASSOCIATION
     Distressed Investing Conference, Bellagio, Las Vegas
        Contact: http://www.turnaround.org/

Feb. 21-23, 2010
  INSOL
     International Annual Regional Conference
        Madinat Jumeirah, Dubai, UAE
           Contact: 44-0-20-7929-6679 or http://www.insol.org/

April 20-22, 2010
  TURNAROUND MANAGEMENT ASSOCIATION
     Sheraton New York Hotel and Towers, New York City
        Contact: http://www.turnaround.org/

Apr. 29-May 2, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     Annual Spring Meeting
        Gaylord National Resort & Convention Center, Maryland
           Contact: 1-703-739-0800; http://www.abiworld.org/

Apr. 29-May 2, 2010
  THE COMMERICAL LAW LEAGUE OF AMERICA
     Midwestern Meeting & National Convention
        Westin Michigan Avenue, Chicago, Ill.
           Contact: 1-312-781-2000 or http://www.clla.org/

June 17-20, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     Central States Bankruptcy Workshop
        Grand Traverse Resort and Spa, Traverse City, Michigan
           Contact: 1-703-739-0800; http://www.abiworld.org/

July 7-10, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     Northeast Bankruptcy Conference
        Ocean Edge Resort, Brewster, Massachusetts
           Contact: 1-703-739-0800; http://www.abiworld.org/

July 14-17, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     Southeast Bankruptcy Conference
        The Ritz-Carlton Amelia Island, Amelia, Fla.
           Contact: http://www.abiworld.org/

Aug. 5-7, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     Mid-Atlantic Bankruptcy Workshop
        Hyatt Regency Chesapeake Bay, Cambridge, Maryland
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 6-8, 2010
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Annual Convention
        JW Marriott Grande Lakes, Orlando, Florida
           Contact: http://www.turnaround.org/

Dec. 2-4, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     22nd Annual Winter Leadership Conference
        Camelback Inn, Scottsdale, Arizona
           Contact: 1-703-739-0800; http://www.abiworld.org/

Mar. 31-Apr. 3, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Annual Spring Meeting
        Gaylord National Resort & Convention Center, Maryland
           Contact: 1-703-739-0800; http://www.abiworld.org/

June 9-12, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Central States Bankruptcy Workshop
        Grand Traverse Resort and Spa
           Traverse City, Michigan
              Contact: http://www.abiworld.org/

October 25-27, 2011
  TURNAROUND MANAGEMENT ASSOCIATION
     Hilton San Diego Bayfront, San Diego, CA
        Contact: http://www.turnaround.org/

Dec. 1-3, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     23rd Annual Winter Leadership Conference
        La Quinta Resort & Spa, La Quinta, California
           Contact: 1-703-739-0800; http://www.abiworld.org/



The Meetings, Conferences and Seminars column appears in the
Troubled Company Reporter each Wednesday.  Submissions via
e-mail to conferences@bankrupt.com are encouraged.

Last Updated: January 25, 2010



                           *********

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
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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-
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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 ***