TCR_Public/100305.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Friday, March 5, 2010, Vol. 14, No. 63

                            Headlines

ABITIBIBOWATER INC: To Sell Three Inactive Sawmills in Quebec
ABITIBIBOWATER INC: Ernst & Young Submits 4th & 5th Reports
ACCURIDE CORPORATION: SCSF Reduced Equity Stake to 3.2%
ACCURIDE CORPORATION: Tinicum Capital Stake at 0%
ADVANCED CELL: Inks Employment Deal with CEO William Caldwell

ADVANCED CELL: Sells Discount Notes for $1,752,500
AFFILIATED MEDIA: Obtains Confirmation for Plan of Reorganization
ALLEN CAPITAL: Files Schedules of Assets and Liabilities
AMERICAN ACCESSORIES: Voluntary Chapter 11 Case Summary
AMERICAN INT'L: Alico Sale Clears Tax Hurdles; Deal Seen By Sunday

ANIXTER INT'L: Unit Offers to Buy 10% Notes due 2014
ANNY'S GILBERT GATEWAY: Voluntary Chapter 11 Case Summary
AUTO SPA PROPERTIES: Voluntary Chapter 11 Case Summary
AUTOBACS STRAUSS: Former Parent Says Plan Unconfirmable
AVENTINE RENEWABLE: Court Approves Ports Lease and Eight Amendment

AVIS BUDGET: FMR, Fidelity Hold 14.726% of Common Stock
AVIS BUDGET: Moody's Affirms Corporate Family Rating at 'B2'
AVIS BUDGET: Proposes Amendment to Senior Secured Credit Facility
AVIS BUDGET: S&P Assigns 'B' Rating on $400 Mil. Senior Notes
AVIS BUDGET: Unit to Sell $400 Million of Senior Notes

AVIS BUDGET: Vanguard Group Holds 5.28% of Common Stock
BACHRACH ACQUISITION: Court Approves Sale to B&B
BASHAS' INC: Sending Stand-Alone Plan to Creditors for Voting
BEAR ISLAND: Five Members Named to Creditors Panel
BEAR ISLAND: Taps Garden City Group as Claims Agent

BEAR ISLAND: Taps Troutman Sanders as Co-Counsel
BEAR ISLAND: Wants Deadline for Filing of Schedules Extended
BERNARD MADOFF: UBS, Ernst & Young Win Bid to Block Lawsuits
BIG CEDAR CREEK: Case Summary & 3 Largest Unsecured Creditors
BOYD GAMING: Moody's Reviews 'B1' Corporate Family Rating

BREWERY LOFT PARTNERS: Case Summary & 20 Largest Unsec. Creditors
BROADSTRIPE LLC: Plan Exclusivity Extended to April 27
BTA BANK: Restructuring Receives Recognition in U.S.
CANWEST GLOBAL: President & Chief Executive Officer Resigns
CARBURTON PROPERTIES: Voluntary Chapter 11 Case Summary

CATALYST PAPER: Proceeds with Distressed Exchange
CENTRAL VALLEY: Sells 66 Franchises for $39 Million
CHARLES PHILIP COWIN: Files List of Unsecured Creditors
CITADEL BROADCASTING: Reports $50.5-Mil. Operating Income for Q4
CITADEL BROADCASTING: Wants Until June 18 to Remove Actions

CITADEL BROADCASTING: Proposes April 21 Claims Bar Date
CITADEL BROADCASTING: Committee Wants EPIQ to Provide Info
CITY OF HOPE: Case Summary & 20 Largest Unsecured Creditors
COACHMEN INDUSTRIES: Bradley Louis Radoff Holds 7.9% Stake
COACHMEN INDUSTRIES: Indian Creek Holds 9.3% of Common Stock

COACHMEN INDUSTRIES: Unit Inks Contract with Private Developer
COLONIAL BANCGROUP: Asks for Plan Exclusivity Until June 18
COLONIAL BANCGROUP: Tax Refunds to Be Placed in Segregated Account
CONTOS DEVELOPMENT: Voluntary Chapter 11 Case Summary
CORUS BANKSHARES: Receives Event of Default Notices

COSINE COMMUNICATIONS: Incurs $597,000 Net Loss for 2009
COUDERT BROTHERS: Administrator Blasts Statek $85-Mil. Appeal
CRESCENT RESOURCES: Wants Plan Exclusivity Until June 1
CRESCENT RESOURCES: Authorized to Hire RBS Securities
DANNY'S SAN TAN: Voluntary Chapter 11 Case Summary

DBSI COLONY WEST: Voluntary Chapter 11 Case Summary
DELTA PETROLEUM: Aletheia Research Holds Less Than 5% Stake
DELTA PETROLEUM: First Trust Holds 6.6% of Common Stock
DELTA PETROLEUM: Steinberg Holds 1.58% of Common Stock
DENNY'S CORP: BlackRock Holds 6.12% of Common Stock

DENNY'S CORP: FMR, Fidelity Hold 12.653% of Common Stock
DENNY'S CORP: Keeley Asset Management Holds 5.9% of Common Stock
DEWOSKIN PROPERTIES: Case Summary & 10 Largest Unsecured Creditors
DIAMOND BAY: Promises 100% Recovery for Unsecureds after Sale
DIRECTV HOLDINGS: Moody's Upgrades Senior Ratings From 'Ba2'

DOYLESTOWN PARTNERS: Case Summary & 2 Largest Unsecured Creditors
EDITHA DIWA MASACAYAN: Voluntary Chapter 11 Case Summary
ERICKSON RETIREMENT: Court Abates Motions Pending Confirmation
ERICKSON RETIREMENT: Court to Hear DIP Reimbursements Today
ERICKSON RETIREMENT: Strategic Entities Question HCP Deal

EUROGAS INC: Posts $394,754 Net Loss in Q3 2009
EXPRESS LLC: Upsized Offering Cues Moody's to Retain 'B2' Ratings
F & F LLC: HWI Cash Collateral Hearing Slated for March 25
FLYING J: Gets Nod for March 19 Auction for Bakersfield Refinery
FLYING J: Leasing Restaurants to Denny's

FOURTH QUARTER 118: Wants Until May 3 to Propose Chapter 11 Plan
FOURTH QUARTER XLVII: Wants Until May 3 to File Chapter 11 Plan
FREDERICK SIKORA: Case Summary & 20 Largest Unsecured Creditors
GOOD SUCCESS CHRISTIAN: Case Summary & 12 Largest Unsec. Creditors
GENERAL MOTORS: Executive Changes Announced

GENERAL GROWTH: Posts $1.3 Billion Net Loss for 2009
GENERAL GROWTH: Has Restructures $10.6-Bil. in Debts of 205 Units
GLOMETRO INC: Files Schedules of Assets & Liabilities
GLOMETRO INC: Section 341(a) Meeting Scheduled for March 16
GLOMETRO INC: Taps Robert T. Kawamoto as Bankruptcy Counsel

GRACEWAY PHARMACEUTICALS: Moody's Reviews Caa1 Corp. Family Rating
GREAT LAKES TRUCKLAND: Case Summary & 3 Largest Unsec. Creditors
GUITARS AND CADILLACS: Case Summary & 20 Largest Unsec. Creditors
HCA INC: To Offer $1 Billion Senior Secured First Lien Notes
HOLLY RAJ INC: Case Summary & 4 Largest Unsecured Creditors

HUDSON'S FURNITURE: Case Summary & 20 Largest Unsecured Creditors
INTELLIPHARMACEUTICALS: Posts $1.8 Mln Loss in Period Ended Nov 30
JAPAN AIRLINES: Starts Tokyo-Dubai Codeshare Flights with Emirates
JAPAN AIRLINES: Seeks Approval From MLIT for Fuel Surcharge
JAPAN AIRLINES: Stock Delisted, Ends Final Trading at JPY1

JAZZ PHARMACEUTICALS: Posts $6.8 Million Net Loss for 2009
JOBSITE INC: Case Summary & 20 Largest Unsecured Creditors
LAS VEGAS MONORAIL: Files Schedules of Assets and Liabilities
LEAP WIRELESS: Pocket Joint Venture Won't Move Moody's 'B2' Rating
LEVEL 3 COMMS: Had $3.695-Mil. Communications Revnue for FY2009

LIMITED BRANDS: S&P Changes Outlook to Stable; Affirms 'BB' Rating
LINDA WOOLF: Case Summary & 16 Largest Unsecured Creditors
LODGENET INTERACTIVE: Anchorage Advisors No Longer Holds Shares
LODGENET INTERACTIVE: FMR, Fidelity Hold 5.590% of Common Stock
LODGENET INTERACTIVE: Inks Employment Deal with Elsenbast as CFO

LOG LLC: Case Summary & 16 Largest Unsecured Creditors
MAGNA ENTERTAINMENT: Gets Nod to Borrow Additional $7MM
MALUHIA DEV'T: Files List of Unsecured Creditors
MARQUISE 7 ENTERPRISES: Case Summary & 2 Largest Unsec. Creditors
MASCO CORPORATION: Fitch Affirms Issuer Default Rating at 'BB+'

MESA AIR: Gets Final Nod to Employ Imperial as Fin'l Advisor
MESA AIR: Committee Proposes Macquarie as Financial Advisor
MESA AIR: Committee Gets Nod for Morrison as Counsel
MILLIPORE CORP: S&P Affirms Corporate Credit Rating at 'BB+'
MIRA ENTERPRISES: Files for Chapter 11 Bankruptcy

MONTEVALLO APARTMENTS: Case Summary & 1 Largest Unsecured Creditor
MUEBLERIA PROVINCIAL: Case Summary & 13 Largest Unsec. Creditors
NEXTMEDIA GROUP: Court Fixes March 29 as Claims Bar Date
NEXTMEDIA GROUP: Plan Confirmation Hearing Set for March 22
NIGHTLIFE ENTERPRISES: Recession, Debt Woes Forced Bankruptcy

NORTEL NETWORKS: Has Settlement With ATC, et al.
NORTEL NETWORKS: Proposes Settlement With Jabil Circuit, et al.
NORTEL NETWORKS: Gets Nod for Deal with Velenio Holdings
NOVADEL PHARMA: Inks Common Stock Purchase Deal with Seaside 88
NPS PHARMACEUTICALS: BlackRock Holds 7.57% of Common Stock

NPS PHARMACEUTICALS: Columbia Wanger Holds 8.6% of Common Stock
NPS PHARMACEUTICALS: GLG Partners Holds 5.55% of Common Stock
NPS PHARMACEUTICALS: Sells REGPARA Royalty Rights to DRI
NYC OFF-TRACK: No Decision Yet on Eligibility for Chapter 9
OCCUPATIONAL & MEDICAL: Seeks Recognition of Aussie Proceedings

OSHKOSH CORP: S&P Raises Issue-Level Rating on Securities to 'BB'
OVB LLC: Case Summary & 4 Largest Unsecured Creditors
OXFORD SQUARE: Case Summary & 14 Largest Unsecured Creditors
PALM INC: S&P Affirms Corporate Credit Rating at 'CCC+'
PARK LANE ASSOCIATES: Case Summary & 20 Largest Unsec. Creditors

PARMALAT SPA: Prosecutors Want Stiffer Sentence for Tanzi
PARMALAT SPA: Settles EUR1 Bil. PCF Claims
PARMALAT SPA: Creditors Convert Warrants for 107,277 Shares
PHILADELPHIA NEWSPAPERS: Lenders Want Auction Suspended
QUANTUM CORP: S&P Changes Outlook to Positive; Affirms 'B-' Rating

REGENT COMMUNICATIONS: Committee Organizational Meeting March 10
RENEW PAPER: Files for Bankruptcy Protection to Sell Assets
ROBERT DAY: Case Summary & 20 Largest Unsecured Creditors
ROBERT GONZALEZ: Case Summary & 20 Largest Unsecured Creditors
RQB RESORT: Wins Court Approval to Use Cash

SELKIRK COGEN: Moody's Downgrades Senior Rating to 'Ba2'
SENSATA TECH: Launches Cash Tender Offer to Buy Senior Notes
SENSATA TECHNOLOGIES: S&P Puts 'B-' Rating on CreditWatch Positive
SEQUENOM INC: SAM, Brookside et al. No Longer Hold Shares
SEVEN SEAS: Moody's Withdraws 'B3' Corporate Family Rating

S.H. LEGGITT: Files List of Unsecured Creditors
S.H. LEGGITT: Taps Martinec Winn as Bankruptcy Counsel
SHEARER'S FOODS: Moody's Assigns Corporate Family Rating at 'B1'
SHOPPES AT SILVER: M&T Bank Offers $1 to Acquire Assets
SIX FLAGS: Texas Comptroller Says Plan Not Confirmable

SIX FLAGS: Gets Go Signal for Pact With Commonwealth Insurance
SIX FLAGS: Sued by Kentucky State Fair Board for Fraud
SOLUTIA INC: Moody's Affirms Corporate Family Rating at 'B1'
SOLUTIA INC: S&P Raises Corporate Credit Rating to 'BB-'
SPANSION INC: Exclusive Solicitation Period Extended to March 8

SPANSION INC: Settles With Warn Act Plaintiffs for $8.56MM
SPANSION INC: Committee Asks Silver Lake to Respond to Subpoenas
SPIRIT FINANCE: S&P Downgrades Corporate Credit Rating to 'CC'
STERLING CHEMICALS: S&P Withdraws 'B-' Corporate Credit Rating
SUN WEST ESTATES: Case Summary & 20 Largest Unsecured Creditors

SWOOZIE'S INC: Case Summary & 39 Largest Unsecured Creditors
TAVERN ON THE GREEN: To Be Converted to Ch. 7 Liquidation
TAVERN ON THE GREEN: Has Potential Bidder for Trademark
TELCORDIA TECHNOLOGIES: Moody's Affirms B3 Ratings
TERRA INDUSTRIES: Fitch Puts Issuer Ratings on Evolving Watch

THORNBURG MORTGAGE: Executives Sued by Chapter 11 Trustee
TLC VISION: Shareholders Seek Official Committee
TRILOGY INTERNATIONAL: S&P Junks Rating on Senior Secured Loan
TROPICANA ENTERTAINMENT: NJCC Approves Sale of Casino to Icahn
TROPICANA ENTERTAINMENT: Aztar Evansville Could Get Name Change

TROPICANA ENTERTAINMENT: Union Fund Asks Lift Stay to Pursue Claim
TROPICANA ENTERTAINMENT: Fee Auditor Issue Report on Fee Apps.
TW TELECOM: Moody's Assigns 'B2' Rating on $430 Mil. Notes
UAL CORP: Blackrock Reports 5.24% Equity Stake
UAL CORP: LMM LLC Reports 4.54% Equity Stake

UAL CORP: Citadel Reports 4% Equity Stake
UAL CORP: Appaloosa Owns 3.04 Million Shares of Common Stock
USEC INC: Earns $58.9 Million for Fourth Quarter 2009
USEC INC: Inks 2nd Amended Credit Agreement with JPMorgan Chase
UTEX COMMUNICATIONS: Case Summary & 18 Largest Unsecured Creditors

UTSTARCOM INC: Viraj Patel Steps Down as Vice President
VERENIUM CORP: Capital Ventures, Heights Capital Hold 5.8% Stake
VERENIUM CORP: Extends Joint Devt. Program with BP Until 1
VERENIUM CORP: Highbridge Owns 8.29% of Common Stock
VERENIUM CORP: Invesco Ltd. No Longer Holds Shares

VERENIUM CORP: Marxe and Greenhouse Hold 12.8% of Common Stock
VERENIUM CORP: Unit Extends BP Biofuels Joint Development Deal
VISANT HOLDING: Moody's Affirms Corporate Family Rating at 'B1'
WASHINGTON MUTUAL: Close to Settlement of JPMorgan Dispute
WE THE PEOPLE: Organizational Meeting to Form Panel on March 9

WGMJR INC: Case Summary & 6 Largest Unsecured Creditors
WHG DEVELOPMENT LLC: Case Summary & 5 Largest Unsecured Creditors
WHIRLPOOL CORPORATION: Moody's Changes Outlook to Stable
WILLIAM BUCKLES: Files Schedules of Assets & Liabilities
WILLIAM BUCKLES: Taps Reissman & Blanchard as Bankr. Counsel

WILLIAM BUCKLES: Section 341(a) Meeting Scheduled for March 8
WORKSTREAM INC: Janus Capital Holds 1.5% of Common Stock
YIGAL RAPPAPORT: Case Summary & 20 Largest Unsecured Creditors
ZAYAT STABLES: Bank Agreement to Keep Stables Open Ahead of Derby
ZHONE TECHNOLOGIES: Receives NASDAQ Deficiency Notice

* Oneida Pension Ruling Could Spur Backlash
* Bill to Prohibit Executive Bonuses in Bankruptcy

* Chadbourne & Parke Appoints Three Counsel and Two In'l Partners

* Willkie Farr's Shelley Chapman to be New York Bankruptcy Judge

* BOOK REVIEW: Taking America - How We Got from the First Hostile
               Takeover to Megamergers, Corporate Raiding and
               Scandal

                            *********

ABITIBIBOWATER INC: To Sell Three Inactive Sawmills in Quebec
-------------------------------------------------------------
AbitibiBowater is selling its three inactive sawmills at Roberval,
Saint-Fulgence and Lebel-sur-Quevillon in Quebec, Canada as part
of its restructuring efforts, CBC News Canada reported late
February.

The Company confirmed that it is on a six-week hunt for buyers of
the Mills, which have been temporarily closed since 2009.  Abitibi
spokesperson Pierre Choquette said that "the bidding process
itself is a requirement, because we're under restructuring right
now, so we need to make sure we get the best value possible at the
end of the process."

Mr. Choquette told CBC News that there are no immediate plans to
close the mills for good if they don't sell within six weeks.

Denis Labeaume, head of the union for the Roberval mill, doesn't
expect the mill to close under a new buyer, said the report.

Meanwhile, Bridgewater Paper Company Limited is laying-off 163
more employees in Liverpool, in addition to the previously
announced 108 job cuts.  The Company is ceasing production at the
Liverpool mill while it searches for a buyer, CBC News Canada
reported February.

                     About AbitibiBowater Inc.

Headquartered in Montreal, Canada, AbitibiBowater Inc. --
http://www.abitibibowater.com/-- produces a wide range of
newsprint, commercial printing papers, market pulp and wood
products.  It is the eighth largest publicly traded pulp and paper
manufacturer in the world.  AbitibiBowater owns or operates 23
pulp and paper facilities and 28 wood products facilities located
in the United States, Canada, the United Kingdom and South Korea.
Marketing its products in more than 90 countries, the Company is
also among the world's largest recyclers of old newspapers and
magazines, and has third-party certified 100% of its managed
woodlands to sustainable forest management standards.
AbitibiBowater's shares trade over-the-counter on the Pink Sheets
and on the OTC Bulletin Board under the stock symbol ABWTQ.

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

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

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

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


ABITIBIBOWATER INC: Ernst & Young Submits 4th & 5th Reports
-----------------------------------------------------------
Ernst & Young, Inc., in its capacity as information officer,
apprised Mr. Justice Gascon on February 8, 2010, of updates with
respect to the Chapter 11 proceedings of the CCAA Applicants.

Under its Fourth Information Officer Report, E&Y disclosed that,
among other things, the Debtors have sought and obtained
permission from the U.S. Bankruptcy Court for the District of
Delaware:

  (i) to enter into a settlement compromise under Rule 2019 of
      the Bankruptcy Code with Augusta Newsprint Company to set
      off mutual debts and for a modification of the automatic
      stay;

(ii) to reject a certain call agreement related to Augusta
      Newsprint made as of July, 2004, as amended, between
      Woodbridge International Holdings Limited, Woodbridge
      International Holdings S.A., the Woodbridge Company
      Limited, Abitibi Consolidated Sales Corporation and ACI;

(iii) to enter into a series of transactions necessary to
      effect payment of certain intercompany debt related to a
      potential $55.25 million Canadian withholding tax
      liability as also approved by the Canadian Court on
      December 1, 2009;

(iv) to enter into a Purchase and Sale Agreement with CIT
      Partners, LLC, as purchaser, for the sale of certain
      property located in Lufkin, Texas; a lease relating to a
      paper machine; and certain executory contracts;

  (v) for Bowater Alabama LLC, a subsidiary of Bowater Newsprint
      South LLC, to enter into and perform its obligations under
      a real and personal property sale contract for the sale of
      certain assets located in Shelby County, Alabama;

(vi) to assume certain unexpired leases of non-residential
      real property and setting cure amounts with respect to
      those properties; and

(vii) to implement bid procedures for the sale of certain
      recycling assets of Abitibi-Consolidated Corp., a
      subsidiary of Donohue Corp.

The Information Officer has also been advised that the Debtors
continue to file notices of settlement of ordinary course claims
and notices of the assumption, assignment and rejection of leases
and executory contracts in the usual manner.  Similarly, other
administrative expense claims, fee applications and lift stay
motions continue to be resolved in the usual manner.

A full-text copy of the Fourth Information Officer's Report
is available for free at:

     http://bankrupt.com/misc/CCAA_4thInfoOfcrReport.pdf

                           Fifth Report

In its fifth report dated February 17, 2010, Ernst & Young, Inc.,
in its capacity as information officer, apprised Mr. Justice
Gascon of these orders entered by the United States Bankruptcy
Court for the District of Delaware relating to Chapter 11
proceedings of the CCAA Applicants:

  (i) Approval of the stipulation between the Debtors and Wells
      Fargo Bank, N.A., in its capacity as administrative agent
      for the lenders party to a certain term loan agreement
      regarding the use of proceeds from the sale of certain
      assets in Lufkin, Texas;

(ii) Approval of the supplemental joint administration of the
      Chapter 11 cases of ABH LLC I and ABH Holding Company with
      the other Debtors, as part of the CCAA Applicants' and the
      Debtors' tax restructuring steps the Canadian Court
      approved on December 1, 2009;

(iii) Authorization of Abitibi Consolidated Sales Corp. to (a)
      enter into a purchase and sale agreement with respect to
      the sale of certain real property that constituted ACSC's
      former paper mill operations in Steilacoom, Washington to
      Ralston Investments, Inc. free and clear of all liens; (b)
      assign executory contracts and unexpired leases; and (c)
      pay the seller's broker's commission equal to 6% of the
      purchase price;

(iv) Approval of a settlement agreement among certain
      individual Claimants and the Debtors and relating to
      personal injury caused by a traffic accident;

  (v) Extension of the Debtors' exclusive periods to file a
      Chapter 11 plan through and including April 15, 2010 and
      to solicit the acceptance of that plan through and
      including June 11,2010;

(vi) Approval of a cross-border claims protocol establishing
      procedures with respect to the review and reconciliation
      of claims filed against the Cross-Border Petitioners,
      which was also approved in the CCAA Proceedings by the
      Canadian Court on January 18, 2010;

(vii) Approval of Bowater Inc.'s assumption of the Sludge
      Dewatering Project Agreement No. BOW2013JP with Turner
      Specialty Services LLC; and

(viii) Approval of a stipulation between the U.S. Debtors,
      Aurelius Capital Management, LP, the Official Committee
      of Unsecured Creditors, Avenue Investments, L.P.,
      Wachovia Bank N.A., Fairfax Financial Holdings Ltd., Bank
      of Nova Scotia and Law Debenture Trust Company of New
      York, as DIP Indenture Trustee, regarding the amendment of
      the final order approving the DIP Financing.

The Information Officer further told Mr. Justice Gascon that the
Debtors also obtained Court orders for:

  (i) the allowance and payment of an administrative expense
      claim for US$396,953 against Bowater and a claim for
      US$334,741 against Bowater Canada Forest Products, Inc.;

(ii) the dismissal of the Chapter 11 case of ABH LLC 2, a
      special purpose vehicle which was formed in connection
      with a series of transactions designed to address a
      potential US$55.25 million withholding tax liability
      through the payment of certain intercompany debt;

(iii) authority for the Official Committee of Unsecured
      Creditors to commence and prosecute certain claims of the
      Debtors' estates pursuant to Section 548 of the Bankruptcy
      Code against Wells Fargo Bank, National Association, as
      successor administrative agent for the ACCC Term Lenders,
      and requesting an extension of related investigation
      deadlines; and

  (v) the establishment of April 7, 2010 as the final date for
      any person who was an employee of the Debtors as of
      April 16, 2009, to file proofs of claim in the Chapter 11
      proceedings.

George L. Miller, Chapter 7 Trustee for the Bankruptcy Estates of
Pope & Talbot, Inc., also sought the Bankruptcy Court's authority
to file a prepetition claim for US$530,619, which motion is
scheduled to be heard on March 23, 2010.

A full-text copy of the February 17 Information Officer's Report
is available for free at:

      http://bankrupt.com/misc/CCAA_5thInfoOfcrReport.pdf

                     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).


ACCURIDE CORPORATION: SCSF Reduced Equity Stake to 3.2%
-------------------------------------------------------
SCSF Equities, LLC, Sun Capital Partners V, L.P. and their related
entities disclosed that on February 26, 2010, they ceased to be
the beneficial owners of more than 5% of the old common stock of
Accuride Corp.

As of Feb. 26, they are deemed to own 4,106,107 shares, equivalent
to 3.2% of the total stock outstanding.

A full-text copy of SCSF Equities, LLC's amended Schedule 13-D is
available for free at http://researcharchives.com/t/s?567c

                       About Accuride Corp.

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

Accuride filed for Chapter 11 in Delaware and emerged from
bankruptcy five months later on February 26, 2010.  Attorneys at
Irell & Manella LLP and Reed Smith LLP served as counsel.  Morris
Anderson & Associates was financial advisor.


ACCURIDE CORPORATION: Tinicum Capital Stake at 0%
-------------------------------------------------
Tinicum Capital Partners II, L.P., Tinicum Capital Partners II
Parallel Fund, L.P., Tinicum Lantern II L.L.C., Terence M.
O'Toole, and Eric M. Ruttenberg disclose that as of February 26,
2009, they have ceased to be the beneficial owners of any equity
securities of Accuride Corporation.

On February 26, 2010, Accuride Corporation and its domestic
subsidiaries emerged from Chapter 11 protection, and all
outstanding shares of the Company's common stock and other equity
interest were cancelled.

A full-text copy of Tinicum Capital Partners II, L.P.'s amended
Schedule 13-D is available for free at:

                  http://researcharchives.com/t/s?567b

                       About Accuride Corp.

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

Accuride filed for Chapter 11 in Delaware and emerged from
bankruptcy five months later on Feb. 26, 2010.  Attorneys at Irell
& Manella LLP and Reed Smith LLP served as counsel.  Morris
Anderson & Associates was financial advisor.


ADVANCED CELL: Inks Employment Deal with CEO William Caldwell
-------------------------------------------------------------
Advanced Cell Technology, Inc., on February 22, 2010, entered into
an employment agreement with William M. Caldwell, IV, who has been
the Company's chief executive office and chairman since January
2005.

Pursuant to the Employment Agreement, the parties agreed as
follows:

     -- Mr. Caldwell will continue to serve as the Company's chief
        executive officer, for a term of two and 1/3 years
        commencing on October 1, 2009, subject to earlier
        termination as provided therein. The term under the
        Employment Agreement will renew automatically for
        additional one year terms unless either party provides
        written notice of intent not to renew the Employment
        Agreement at least 90 days prior to such automatic
        renewal.

     -- The Company will pay Mr. Caldwell an initial base salary
        of $480,000 per annum, which base salary will increase
        annually by not less than the annual increase in the
        consumer price index, and may be increased during the term
        by a greater amount at the sole discretion of the
        Company's board of directors.

     -- Within 10 days of execution of the Employment Agreement,
        the Company will pay Mr. Caldwell a retention bonus of
        $100,000.

     -- Commencing in the 2010 calendar year, the Company will pay
        Mr. Caldwell an annual bonus based on the performance of
        the Company's common stock.  The Company may also pay Mr.
        Caldwell additional bonuses in the Company's sole
        discretion.

     -- The Company will recommend to the Company's board of
        directors that the Company issue to Mr. Caldwell
        restricted common stock in an amount equal to the greater
        of (a) 70,000,000 shares or (b) 7% of the Company's fully
        diluted shares of issued and outstanding common stock.

     -- If Mr. Caldwell's employment under the Employment
        Agreement is terminated by the Company without cause, or
        by Mr. Caldwell for good reason the Company will pay
        Mr. Caldwell severance of two years' base salary.

                        About Advanced Cell

Based in Worcester, Massachusetts, Advanced Cell Technology, Inc.,
is a biotechnology company focused on developing and
commercializing human embryonic and adult stem cell technology in
the emerging fields of regenerative medicine.  Principal
activities to date have included obtaining financing, securing
operating facilities, and conducting research and development.
The Company has no therapeutic products currently available for
sale and does not expect to have any therapeutic products
commercially available for sale for a period of years, if at all.
The Company's ability to continue its research and development
activities is dependent upon the ability of management to obtain
additional financing as required.

At September 30, 2009, the Company had $6,380,040 in total assets
against $75,147,467 in total liabilities, resulting in $70,817,898
in stockholders' deficit.  At September 30, 2009, the Company had
$1,297,592 in total current assets against $66,275,699 in total
current liabilities.

The Company has noted it has losses from operations, negative cash
flows from operations, a substantial stockholders' deficit and
current liabilities exceed current assets.  The Company may thus
not be able to continue as a going concern and fund cash
requirements for operations through the next 12 months with
current cash reserves.  The Company was able to raise additional
cash during the third quarter of 2009.   Notwithstanding success
in raising capital, there continues to be substantial doubt about
the Company's ability to continue as a going concern.


ADVANCED CELL: Sells Discount Notes for $1,752,500
--------------------------------------------------
Advanced Cell Technology, Inc., disclosed that on February 18,
2010, pursuant to the second closing under a Subscription
Agreement, it sold to subscribers, original issue discount
promissory notes in the aggregate principal amount of $2,103,000,
for an aggregate purchase price of $1,752,500 -- including $67,500
paid for by forgiveness of legal fees -- and issued 14,020,000
Class A Warrants.

In connection with the second closing under the Subscription
Agreement, on February 18, the Company issued 250,000 shares of
common stock, valued at $25,000, to Momona Capital LLC, as a due
diligence fee.

Immediately following the second closing under the Subscription
Agreement, the Company had 824,886,586 shares of common stock
issued and outstanding.

On November 12, 2009, the Company entered into a subscription
agreement with certain subscribers.  The Company agreed to sell
original issue discount promissory notes in the principal amount
of a minimum of $2,400,000, for a purchase price of a minimum of
$2,000,000.  The Notes will be convertible into shares of the
Company's common stock at a conversion price of $0.10.

Pursuant to the Subscription Agreement, the Company also agreed to
issue (i) one-and-one third Class A warrants for each two shares
of common stock underlying the Notes, to purchase shares of the
Company's common stock with a term of five years and an exercise
price of $0.108, (ii) additional investment rights, exercisable
until 9 months after the initial closing date of the Subscription
Agreement, to purchase (a) original issue discount promissory
notes -- AIR Notes -- with the same terms as the Notes, in the
principal amount of up to the principal amount of the Notes to be
purchased by the Subscribers, for a purchase price of up to the
purchase price paid by the Subscribers for the Notes, with a
conversion price of $0.10, and (b) one-and-one third Class B
warrants for each two shares of common stock underlying the AIR
Notes, to purchase shares of the Company's common stock with a
term of five years and an exercise price of $0.108.

The Company will be required to redeem the Notes monthly
commencing in May 2010, in the amount of 14.28% of the initial
principal amount of the Notes, in cash or common stock at the
Company's option (subject to the conditions set forth in the
Notes), until the Notes are paid in full.

Pursuant to the initial closing under the Subscription Agreement,
on November 12 and November 13, 2009, the Company sold Notes in
the aggregate principal amount of $2,103,000 for an aggregate
purchase price of $1,752,500.  Pursuant to the initial closing
under the Subscription Agreement, the Company also issued an
aggregate of (i) 14,020,000 Class A Warrants, and (ii) Additional
Investment Rights for the purchase of up to (a) $4,206,000
principal amount of AIR Notes for a purchase price of up to
$3,505,000 and (b) 28,040,000 Class B Warrants.

The Subscribers also agreed to purchase, subject to customary
conditions, additional Notes in the principal amount of
$2,103,000, for a purchase price of $1,752,500, in a second
closing to occur within 90 days of the initial closing.

                        About Advanced Cell

Based in Worcester, Massachusetts, Advanced Cell Technology, Inc.,
is a biotechnology company focused on developing and
commercializing human embryonic and adult stem cell technology in
the emerging fields of regenerative medicine.  Principal
activities to date have included obtaining financing, securing
operating facilities, and conducting research and development.
The Company has no therapeutic products currently available for
sale and does not expect to have any therapeutic products
commercially available for sale for a period of years, if at all.
The Company's ability to continue its research and development
activities is dependent upon the ability of management to obtain
additional financing as required.

At September 30, 2009, the Company had $6,380,040 in total assets
against $75,147,467 in total liabilities, resulting in $70,817,898
in stockholders' deficit.  At September 30, 2009, the Company had
$1,297,592 in total current assets against $66,275,699 in total
current liabilities.

The Company has noted it has losses from operations, negative cash
flows from operations, a substantial stockholders' deficit and
current liabilities exceed current assets.  The Company may thus
not be able to continue as a going concern and fund cash
requirements for operations through the next 12 months with
current cash reserves.  The Company was able to raise additional
cash during the third quarter of 2009.   Notwithstanding success
in raising capital, there continues to be substantial doubt about
the Company's ability to continue as a going concern.


AFFILIATED MEDIA: Obtains Confirmation for Plan of Reorganization
-----------------------------------------------------------------
Affiliated Media, Inc., obtained confirmation for its plan of
reorganization, paving the way for it to emerge from chapter 11
protection just six weeks after filing for it.

The Hon. Kevin J. Carey of U.S. Bankruptcy Court for the District
of Delaware confirmed the plan at a hearing today.  The plan
reduces the company's debt from approximately $930 million to
approximately $165 million.

"We knew we had a good plan going in, and it had been approved by
the lenders before it was filed," said William Dean Singleton,
Chairman and Chief Executive Officer of MediaNews Group.  "We are
pleased that it won confirmation, and that our company is now
well-positioned for the changing days ahead."

The reorganization involves no management change or change of
control of the company.  The company reached agreement on terms of
the plan with its lenders prior to filing for protection on
Jan. 22, 2010.

Affiliated Media asked the Bankruptcy Court to sign off on the
prepackaged reorganization plan, despite mounting objections in
recent days over the terms of the plan.   Among other parties,
Bank of New York Mellon Trust Co. and Warner Gateway Partners
objected to the prepackaged Chapter 11 plan.

                        Terms of the Plan

Holders of senior notes aggregating $583.1 million will receive
88% of the common stock, a $150 million secured term loan and
certain cash payments.  Majority of the senior lenders approved
the terms of the plan prior to the bankruptcy filing.  Holders of
other secured claims would retain their claims and have their
rights unaltered.

Under the Plan, holders of general unsecured claims would retain
their claims or would be paid in full.

Holders of $326 million in subordinated notes, if they support the
plan, would receive warrants to purchase stock of the reorganized
company.  If they reject the Plan, they won't recover anything.

Holders of equity interests are wiped out.

Copies of the Plan and disclosure statement are available for free
at:

       http://bankrupt.com/misc/AFFILIATED_MEDIA_ch11plan.pdf
       http://bankrupt.com/misc/AFFILIATED_MEDIA_ds.pdf

                    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: Files Schedules of Assets and Liabilities
--------------------------------------------------------
Allen Capital Partners, LLC, filed with the U.S. Bankruptcy Court
for the Northern District of Texas its schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                        $0
  B. Personal Property          $220,325,201
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $23,485,377
  E. Creditors Holding
     Unsecured Priority
     Claims                                                $0
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                      $137,136,859
                                 -----------      -----------
        TOTAL                   $220,325,201     $160,622,236

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.


AMERICAN ACCESSORIES: Voluntary Chapter 11 Case Summary
-------------------------------------------------------
Debtor: American Accessories, Inc.
        2605 State Hwy 91 North
        Denison, TX 75020

Bankruptcy Case No.: 10-40723

Chapter 11 Petition Date: March 2, 2010

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

Judge: Brenda T. Rhoades

Debtor's Counsel: Anthony Reed, Esq.
                  The Reed Law Firm
                  2591 Dallas Parkway, Suite 300
                  Frisco, TX 75034
                  Tel: (972) 731-4380
                  Fax: (469) 287-5719
                  Email: areed@thereedlawfirm.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 Martha Powdrill, president of the
Company.


AMERICAN INT'L: Alico Sale Clears Tax Hurdles; Deal Seen By Sunday
------------------------------------------------------------------
The Wall Street Journal's Serena Ng, Leslie Scism, and Jeffrey
McCracken report that people familiar with the matter said The
Internal Revenue Service has told lawyers for American
International Group Inc. and MetLife Inc. that it ruled in their
favor on a tax question, paving the way for a $15 billion sale of
AIG's American Life Insurance Co. to Metlife.  One source told the
Journal the tax authorities delivered the ruling in writing
Thursday.

One source told the Journal boards of the two companies are
prepared to meet and finalize the deal this weekend.  It could be
announced as early as Sunday night, the Journal says.

The Journal notes the tax issue concerns whether Alico would have
to withhold U.S. taxes on income it distributes to foreign holders
of its annuities and life-insurance products.  Alico, which is
domiciled in Delaware but derives over 80% of its revenue
overseas, has been operating under the assumption that it won't
have to withhold such taxes.

The Journal says the issue came up because MetLife was concerned
about future financial liabilities if the IRS one day decided that
Alico would have to withhold such taxes.  AIG and Alico asked the
IRS several weeks ago for a "private letter ruling" that would
confirm their interpretation of the tax-withholding issue.

As reported by the Troubled Company Reporter on February 12, 2010,
Emre Peker, Zachary R. Mider and Hugh Son at Bloomberg News said
three people with knowledge of the matter indicated that MetLife
may pay AIG $8 billion in stock and the rest in cash for ALICO.
One of the sources told Bloomberg, the stock payment to AIG may
include common shares and preferred stock, and that the deal would
leave AIG with one of the biggest stakes in MetLife.

Sources told Bloomberg some of the cash may come from a $5 billion
bridge loan from banks including JPMorgan Chase & Co., Bank of
America Corp., Deutsche Bank AG, and Credit Suisse Group AG.

AIG CEO Robert Benmosche, who was previously connected with
MetLife, was prohibited from participating in negotiations with
MetLife.

                             About AIG

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

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

AIG has sold a number of its subsidiaries and other assets to pay
down loans received from the U.S. government, and continues to
seek buyers of its assets.


ANIXTER INT'L: Unit Offers to Buy 10% Notes due 2014
----------------------------------------------------
Anixter International Inc. and its Anixter Inc. subsidiary
announced today an offer by Anixter Inc. to purchase for cash any
and all of its 10% Senior Notes due 2014.  Anixter International
has unconditionally guaranteed the obligations of Anixter Inc.
under the notes.

The consideration for each $1,000.00 principal amount of notes
validly tendered (and not validly withdrawn) and accepted for
payment pursuant to the offer is $1,140.00 per $1,000.00 principal
amount of notes, plus an early participation payment of $30.00 per
$1,000.00 principal amount of notes (the "Early Participation
Payment") for those holders who validly tender (and do not validly
withdraw) their notes prior to 5:00 p.m. EDT on March 17, 2010
(the "Early Participation Payment Deadline").  Accrued interest
to, but not including, the applicable payment date will also be
paid in cash on all validly tendered and accepted notes.  Holders
who validly tender their notes after the Early Participation
Payment Deadline will not receive the Early Participation Payment.

The offer is scheduled to expire at 5:00 p.m. EDT on April 1,
2010, unless extended or earlier terminated.  The offer is subject
to the satisfaction or waiver of certain conditions.  The offer is
not subject to the receipt of any minimum amount of tenders.

Holders who validly tender (and do not validly withdraw) their
notes at or prior to the Early Participation Payment Deadline and
whose notes are accepted for purchase will receive payment on the
initial payment date, which is expected to be March 18, 2010.
Holders who validly tender (and do not validly withdraw) their
notes after the Early Participation Payment Deadline and whose
notes are accepted for purchase will receive payment on the final
payment date, which is expected to be April 5, 2010.

The complete terms and conditions of the offer are set forth in an
Offer to Purchase and related Letter of Transmittal that are being
sent to holders of notes.

BofA Merrill Lynch is the Dealer Manager for the tender offer.
Questions regarding the offer may be directed to BofA Merrill
Lynch at (888) 292-0070 (toll-free) and (646) 855-3401 (collect).

Headquartered in Glenview, Illinois, Anixter International Inc. is
a leading global distributor of communications products and
electrical and electronic wire & cable, and a leading distributor
of fasteners and other small parts to Original Equipment
Manufacturers.

                       *     *     *

As reported on March 5, 2009, Moody's Investors Service assigned a
Ba2 rating to Anixter Inc.'s proposed $200 million guaranteed
senior unsecured notes, due 2014.  Moody's also affirmed the Ba2
corporate family rating of Anixter International Inc. and the B1
rating on Anixter's 3.25% LYON's notes.


ANNY'S GILBERT GATEWAY: Voluntary Chapter 11 Case Summary
---------------------------------------------------------
Debtor: Anny's Gilbert Gateway, LLC
        15509 N. Scottsdale Road
        Scottsdale, AZ 85254

Bankruptcy Case No.: 10-05583

Chapter 11 Petition Date: March 3, 2010

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

Judge: Eileen W. Hollowell

Debtor's Counsel: Bert L. Roos, Esq.
                   5045 N. 12th St, Suite B
                   Phoenix, AZ 85014
                   Tel: (602) 242-7869
                   Fax: (602) 242-5975
                   Email: blrpc85015@msn.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 Dennis M. Naughton, general counsel of
the Company.


AUTO SPA PROPERTIES: Voluntary Chapter 11 Case Summary
------------------------------------------------------
Debtor: Auto Spa Properties of Sixes Road, LLC
        P.O. Box 4428
        Canton, GA 30114

Bankruptcy Case No.: 10-66363

Chapter 11 Petition Date: March 2, 2010

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

Judge: Mary Grace Diehl

Debtor's Counsel: William L. Rothschild, Esq.
                  Ellenberg, Ogier, Rothschild & Rosenfeld
                  170 Mitchell Street, S.W.
                  Atlanta, GA 30303-3424
                  Tel: (404) 525-4000
                  Email: br@eorlaw.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 Steve Anderson.


AUTOBACS STRAUSS: Former Parent Says Plan Unconfirmable
-------------------------------------------------------
Bill Rochelle at Bloomberg News reports that Japan's Autobacs
Seven Co., the former parent of Autobacs Strauss Inc., says that
the plan of Autobacs Strauss should not be sent to creditors for
voting.  Autobacs Seven contends the plan can't be confirmed
because it violates the so-called absolute priority rule, which
says that stockholders can't retain ownership when creditors
aren't paid in full.  The former parent notes that the current
owner, GRL Capital Advisors LLC, is making no contribution to the
plan and therefore can't retain its equity interest.

According to the report, Autobacs Strauss, Inc., doing business as
Strauss Discount Auto, has filed a reorganization plan that would
give ownership to GRL Capital Advisors LLC once general unsecured
creditors have been paid 45% of claims estimated to be $15.2
million.

The Plan provides that unsecured creditors will receive notes
allowing them to be paid 53.25% within two years of plan
confirmation from a portion of cash flow.  If distributions are
less within two years, then the notes increase so creditors would
receive as much as 65% from cash flow.  In addition, unsecured
creditors will receive most of the proceeds from a pending lawsuit
against the parent company, Japan's Autobacs Seven Co.  A portion
of lawsuit recoveries would be applied against the notes.  The
Company itself can receive a portion of lawsuit recoveries from
the parent.  The Plan provides that avoidance actions against
creditors will be waived.

The treatment of the parent under the Plan depends on the outcome
of the lawsuit.  If the creditors have their way, the parent,
which has a claim for $44 million, will see its claim
subordinated.

                      About Autobacs Strauss

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

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


AVENTINE RENEWABLE: Court Approves Ports Lease and Eight Amendment
------------------------------------------------------------------
On February 24, 2010, the U.S. Bankruptcy Court for the District
of Delaware entered an order approving the assumption of the Lease
by Aventine Renewable Energy - Mt. Vernon Vernon, LLC and Aventine
Renewable Energy Holdings, Inc., including the eighth amendment
thereto.

On December 10, 2009, Mt. Vernon, LLC, a wholly-owned indirect
subsidiary of the Company, and the Ports of Indiana entered into
an Eighth Amendment to the Lease Agreement and Reaffirmation of
Guaranty dated October 31, 2006, under which Aventine is a
guarantor.  The effectiveness of the amendment to the Lease was
subject to approval by the Bankruptcy Court in connection with
Aventine's bankruptcy proceedings.  Under the lease, the Ports
lease to Mt. Vernon, LLC the real estate located at the Port of
Indiana-Mount Vernon, on which Mt. Vernon, LLC is obligated to
construct two operating plants.  The amendment, among other
things, reschedules the completion and commencement of production
of ethanol for the initial "Phase I" plant, establishes criteria
for the completion and commencement of production for the Phase II
plant, extends the deadline for the employment of 50 full time
positions at the facility, inserts a waiver by the Ports of
certain occurrences as events of default and amends certain
minimum wharfage payments and payment dates.

A full-text copy of the Form 8-K filing is available at no charge
at http://researcharchives.com/t/s?56f1

As reported in the Troubled Company Reporter on February 26, 2010,
Judge Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware confirmed on February 24, 2010, the First Amended Joint
Plan of Reorganization of the Debtors.

The Plan includes a backstop lending agreement in connection with
the issuance of senior secured notes in the face amount of
$105 million.

A copy of the confirmation order is available for free at:

        http://bankrupt.com/misc/aventine.confirmationorder.pdf

                     About Aventine Renewable

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

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

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


AVIS BUDGET: FMR, Fidelity Hold 14.726% of Common Stock
-------------------------------------------------------
FMR LLC and Edward C. Johnson 3d disclosed that they may be deemed
to beneficially own 15,019,094 shares or roughly 14.726% of the
common stock of Avis Budget Group Inc.

Fidelity Management & Research Company, a wholly owned subsidiary
of FMR LLC, is the beneficial owner of 13,704,356 shares or
13.437% of the Common Stock outstanding of Avis Budget Group as a
result of acting as investment adviser to various investment
companies.

Edward C. Johnson 3d and FMR LLC, through its control of Fidelity,
and the funds each has sole power to dispose of the 13,704,356
shares owned by the Funds.

                      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 December 31, 2009, the Company had $10.093 billion in total
assets against total current liabilities of 1.284 billion, total
liabilities exclusive of liabilities under vehicle programs of
$4.033 billion, and liabilities under vehicle programs of
$5.828 billion, resulting in stockholders' equity of $222 million.

                           *     *     *

As reported by the Troubled Company Reporter on February 19, 2010,
Moody's Investors Service changed the rating outlook for Avis
Budget Car Rental LLC to Positive from Negative.  The company's
ratings remain unchanged -- Corporate Family Rating at B2;
Probability of Default Rating at B2; senior secured credit
facilities at Ba3; senior unsecured at Caa1; and Speculative Grade
Liquidity rating at SGL-3.  The change in outlook reflects the
considerable improvement that continues to take place in Avis'
operating, competitive, and funding environment.

As reported by the TCR on February 4, 2010, Standard & Poor's
Ratings Services raised its corporate credit rating on Avis Budget
Group Inc. to 'B+' from 'B-'.  S&P also raised the other ratings
on the company by two notches, and the recovery ratings on the
company's secured and unsecured debt remain unchanged.


AVIS BUDGET: Moody's Affirms Corporate Family Rating at 'B2'
------------------------------------------------------------
Moody's Investors Service affirmed the B2 Corporate Family Rating
and B2 Probability of Default Rating of Avis Budget Car Rental
LLC., and raised the rating of the company's senior secured credit
facility to Ba2 from Ba3 and the rating of its senior unsecured
debt to B3 from Caa1.  Moody's also assigned a B3 rating to the
company's $400 million issuance of senior unsecured notes, the
proceeds of which will be used to reduce outstandings under the
company's secured credit facility.  The rating outlook remains
positive.

The upgrade of the instrument ratings anticipates a successful
closing of both the $400 million note issuance, and the amend and
extend undertaking negotiated with secured lenders.  The rating
action reflects the shift in Avis' capital structure that will
result from the issuance of the new unsecured debt, the related
reduction in secured debt, and the application of Moody's Loss
Given Default Methodology.  Pro forma for the completion of the
contemplated transactions the total amount of senior secured debt
capacity will fall from $1,925 million to $1,500 million, with
actual outstandings falling from $775 million to $325 million.
The company's senior unsecured debt will increase from
$1,345 million to $1,745 million.

Under the amend and extend undertaking Avis' $775 million term
loan due 2012 will be reduced to $265 million maturing in 2014 and
$60 million due 2012; the company's $1,150 million revolving
credit facility due 2011 will be amended to a $965 million
facility due 2013 and approximately $210 million due 2011.  In
addition, financial covenants in the amended and extended
facilities will afford Avis greater headroom.  The extended
maturity profile and less restrictive covenant provisions will
help to improve Avis' liquidity profile within the SGL-3
Speculative Grade Liquidity rating category.  Notwithstanding this
improvement, Avis' funding strategy will remain highly dependent
upon the company's ability to access the ABS market on an annual
basis to fund its seasonal fleet requirements.  Consequently, the
company's liquidity profile remains adequate, as indicated by the
SGL-3 liquidity rating.

The positive rating outlook reflects considerable improvement that
continues to take place in Avis' operating, competitive, and
funding environment.  These improvements should enable the company
to steadily improve key credit metrics through 2010.

The last rating action on Avis was a change in the outlook to
positive on February 17, 2010.

Avis Budget Car Rental LLC, headquartered in Parsippany, NJ, is a
leading competitor in the US on-airport car rental sector.


AVIS BUDGET: Proposes Amendment to Senior Secured Credit Facility
-----------------------------------------------------------------
Avis Budget Group, Inc., has proposed an amendment to its senior
secured credit facility.  The Company would reduce the maximum
aggregate amount of debt outstanding under its senior secured
credit facility to $1.5 billion -- from more than $1.9 billion --
extend the maturities of a substantial portion of the credit
facility by two years, increase the interest rate spreads by 50
basis points on the extended portions of the credit facility,
significantly reduce the principal amount of the term loan
outstanding under the facility, revise the financial and non-
financial covenants under the facility to provide more flexibility
to the Company, and pay normal and customary fees and expenses.

If the senior secured credit facility amendment is successfully
completed, the Company expects that, immediately following the
completion of the amendment, the credit facility would be
comprised of:

     $965 million of revolving credit commitments
                  expiring in 2013,
     $210 million of revolving credit commitments
                  expiring in 2011,
     $265 million of term loan debt maturing in 2014, and
      $60 million of term loan debt maturing in 2012.

As of March 3, 2010, there are no borrowings outstanding under the
revolving credit portion of the credit facility.

Although the Company has already received commitments from lenders
for the proposed amendment, such amendment is subject to a
reduction in the amount of term loan outstanding (which condition
the Company intends to help satisfy with the proceeds of the
senior notes offering) and satisfaction of customary closing
conditions.  There can be no assurance that the proposed amendment
to the senior secured credit facility or the senior notes offering
will be completed as contemplated or at all.

A copy of the current draft of the senior secured credit
agreement, as amended by the proposed amendment, is available at
no charge at http://ResearchArchives.com/t/s?56ee

The members of the lending consortium are:

     * JPMORGAN CHASE BANK, N.A., as Administrative Agent
       and as a Lender;

     * DEUTSCHE BANK SECURITIES INC., as Syndication Agent;

     * DEUTSCHE BANK AG NEW YORK BRANCH, as a Lender;

     * BANK OF AMERICA, N.A., as a Documentation Agent
       and as a Lender;

     * CREDIT AGRICOLE CORPORATE & INVESTMENT BANK NEW YORK BRANCH
       (formerly known as Calyon), as a Documentation Agent and as
       a Lender;

     * CITICORP USA, INC., as a Documentation Agent and as a
       Lender; and

     * WACHOVIA BANK, NATIONAL ASSOCIATION, as Documentation Agent
       and as a Lender

                      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 December 31, 2009, the Company had $10.093 billion in total
assets against total current liabilities of 1.284 billion, total
liabilities exclusive of liabilities under vehicle programs of
$4.033 billion, and liabilities under vehicle programs of
$5.828 billion, resulting in stockholders' equity of $222 million.

                           *     *     *

As reported by the Troubled Company Reporter on February 19, 2010,
Moody's Investors Service changed the rating outlook for Avis
Budget Car Rental LLC to Positive from Negative.  The company's
ratings remain unchanged -- Corporate Family Rating at B2;
Probability of Default Rating at B2; senior secured credit
facilities at Ba3; senior unsecured at Caa1; and Speculative Grade
Liquidity rating at SGL-3.  The change in outlook reflects the
considerable improvement that continues to take place in Avis'
operating, competitive, and funding environment.

As reported by the TCR on February 4, 2010, Standard & Poor's
Ratings Services raised its corporate credit rating on Avis Budget
Group Inc. to 'B+' from 'B-'.  S&P also raised the other ratings
on the company by two notches, and the recovery ratings on the
company's secured and unsecured debt remain unchanged.


AVIS BUDGET: S&P Assigns 'B' Rating on $400 Mil. Senior Notes
-------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B' rating to Avis
Budget Car Rental LLC's $400 million senior unsecured notes.  Avis
Budget Car Rental LLC is the primary operating subsidiary of Avis
Budget Group Inc.  S&P also assigned a recovery rating of '5' to
the notes, indicating its expectation for modest (10%-30%)
recovery in a payment default scenario.  At the same time, S&P
assigned a 'BB' rating to Avis Budget Car Rental's proposed
amended and extended $1.5 billion secured credit facility that
matures in 2014, with a recovery rating of '1', indicating very
high (90%-100%) recovery of principal in a payment default
scenario.

The company intends to use the proceeds from the senior unsecured
notes to reduce debt under its current credit facility.  The
reduction in the current credit facility will satisfy conditions
of the amendment and extension.  When the company amends and
extends the credit facility, S&P expects to raise the ratings on
its other outstanding senior unsecured notes to 'B' from 'B-', and
raise the recovery rating on the notes to '5' from '6', indicating
modest (10%-30%) recovery of principal in a payment default
scenario.  S&P expects lenders will have improved recovery
prospects in a payment default, following completion of the new
financings, which will result in a reduced secured borrowing in
the capital structure.

The ratings on Avis Budget Group and Avis Budget Car Rental
reflect the company's highly leveraged financial profile; the
price-competitive and cyclical nature of on-airport car rentals,
its major business; and improving (albeit still weak) operating
performance.  The ratings also incorporate the company's position
as a major U.S. on-airport car renter and the strong cash flow
this business generates.

The outlook is stable.  "S&P could raise ratings if the industry
maintains discipline and demand continues to recover, resulting in
operating margins (after depreciation) improving to the midteens
percent level," said Standard & Poor's credit analyst Lisa
Jenkins.  However, S&P consider this scenario unlikely over the
next year.  "S&P also don't expect to lower the ratings, unless
demand weakens materially, resulting in pricing pressure and lower
margins," she continued.

                           Ratings List

                      Avis Budget Group Inc.
                    Avis Budget Car Rental LLC

           Corp. credit rating           B+/Stable/--

                         Ratings Assigned

              $400 mil. senior unsecured notes      B
               Recovery rating                      5

   Proposed amended extended $1.5 bil. secd credit facility   BB
    Recovery rating                                           1


AVIS BUDGET: Unit to Sell $400 Million of Senior Notes
------------------------------------------------------
Avis Budget Group, Inc., said its wholly owned subsidiary, Avis
Budget Car Rental, LLC, is planning to offer $400 million
aggregate principal amount of senior notes.  The notes will be
senior obligations of Avis Budget Car Rental, LLC, and will be
guaranteed on a senior basis by the Company and certain of its
domestic subsidiaries.  The offering is subject to market and
customary conditions.  The Company intends to use the net proceeds
of the offering, together with cash on hand, to repay outstanding
indebtedness under its floating rate term loan (which, including
the effect of interest rate hedges, has an effective interest rate
of 9.2%) and for general corporate purposes.

The notes and the related guarantees have not been registered
under the Securities Act of 1933, as amended, and may not be
offered or sold in the United States absent registration or an
applicable exemption from registration requirements.

                      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 December 31, 2009, the Company had $10.093 billion in total
assets against total current liabilities of 1.284 billion, total
liabilities exclusive of liabilities under vehicle programs of
$4.033 billion, and liabilities under vehicle programs of
$5.828 billion, resulting in stockholders' equity of $222 million.

                           *     *     *

As reported by the Troubled Company Reporter on February 19, 2010,
Moody's Investors Service changed the rating outlook for Avis
Budget Car Rental LLC to Positive from Negative.  The company's
ratings remain unchanged -- Corporate Family Rating at B2;
Probability of Default Rating at B2; senior secured credit
facilities at Ba3; senior unsecured at Caa1; and Speculative Grade
Liquidity rating at SGL-3.  The change in outlook reflects the
considerable improvement that continues to take place in Avis'
operating, competitive, and funding environment.

As reported by the TCR on February 4, 2010, Standard & Poor's
Ratings Services raised its corporate credit rating on Avis Budget
Group Inc. to 'B+' from 'B-'.  S&P also raised the other ratings
on the company by two notches, and the recovery ratings on the
company's secured and unsecured debt remain unchanged.


AVIS BUDGET: Vanguard Group Holds 5.28% of Common Stock
-------------------------------------------------------
The Vanguard Group, Inc., disclosed that it may be deemed to
beneficially own 5,394,485 shares or roughly 5.28% of the common
stock of Avis Budget Group Inc.

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 December 31, 2009, the Company had $10.093 billion in total
assets against total current liabilities of 1.284 billion, total
liabilities exclusive of liabilities under vehicle programs of
$4.033 billion, and liabilities under vehicle programs of
$5.828 billion, resulting in stockholders' equity of $222 million.

                           *     *     *

As reported by the Troubled Company Reporter on February 19, 2010,
Moody's Investors Service changed the rating outlook for Avis
Budget Car Rental LLC to Positive from Negative.  The company's
ratings remain unchanged -- Corporate Family Rating at B2;
Probability of Default Rating at B2; senior secured credit
facilities at Ba3; senior unsecured at Caa1; and Speculative Grade
Liquidity rating at SGL-3.  The change in outlook reflects the
considerable improvement that continues to take place in Avis'
operating, competitive, and funding environment.

As reported by the TCR on February 4, 2010, Standard & Poor's
Ratings Services raised its corporate credit rating on Avis Budget
Group Inc. to 'B+' from 'B-'.  S&P also raised the other ratings
on the company by two notches, and the recovery ratings on the
company's secured and unsecured debt remain unchanged.


BACHRACH ACQUISITION: Court Approves Sale to B&B
------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
has entered an order approving the sale of Bachrach Acquisition
LLC's assets to newly formed company B&B Bachrach, LLC.

The sale procedures scheduled an auction for February 22 to
consider other bids for the assets.  The auction, however, was
cancelled as no parties submitted competing bids.

B&B Bachrach is buying the assets for $5.25 million.

According to Bill Rochelle at Bloomberg News, the Official
Committee of Unsecured Creditors opposed the sale, noting that B&B
is 25% controlled by insiders.  The Committee argued that the sale
will leave Bachrach administratively insolvent and the sale solely
benefits secured lenders, who will take home most of the sale
proceeds.

The asset purchase agreement provides that B&B will (i) make a
cash payment of $3,000,000, to be conveyed to Wells Fargo, (i)
issue a note of $500,000 for the benefit of retained
professionals, (iii) issue a note of $450,000 for the benefit of
creditors, and (iv) issue a note of $200,000 for the benefit of
Weatherproof Garment Company.

An escrow fund, partly funded by Wells Fargo, will be established
to cover the professional fees and expenses for winding down the
Debtor's case occurring after the closing of the APA.

The sale order also provides that the Debtor's exclusive right to
file a plan and disclosure statement and solicit approval thereof
is terminated as it applies to the Creditors Committee.

                    About Bachrach Acquisition

Headquartered in New York City, Bachrach Acquisition, LLC --
http://www.bachrach.com/-- sells men's apparel and has stores in
13 states.

The Company filed for Chapter 11 on May 6, 2009 (Bankr. S.D.N.Y.
Case No. 09-12918).  Clifford A. Katz, Esq., Evan J. Salan, Esq.,
Henry G. Swergold, Esq., and Teresa Sadutto-Carley, Esq., at
Platzer, Swergold, Karlan, Levine, Goldberg & Jaslow, LLP,
represent the Debtor in its restructuring effort.  The formal
lists of assets and liabilities show assets on the books for
$20.2 million and debt totaling $24.2 million, including
$8.1 million secured as of the petition date.


BASHAS' INC: Sending Stand-Alone Plan to Creditors for Voting
-------------------------------------------------------------
Bashas' Inc. will present its reorganization plan for confirmation
by the Bankruptcy Court at a hearing on April 6.  Confirmation
objections are due March 26.

Bashas' is sending its reorganization plan to creditors for voting
after it received approval of the explanatory disclosure
statement.  Deadline to return ballots is on March 30.

The Official Committee of Unsecured Creditors co-proposed the
Plan.

Bashas' received from Albertson's LLC an offer to buy the business
at a value to be between $260 million and $290 million.  Bashas',
however, is pursuing its own stand-alone plan, under which it will
continue to operate its Arizona business post-emergence.  Bashas'
said Albertsons' offer "would not pay creditors in full" and thus
is not a desirable alternative to the existing plan.

Bashas' plan, on the other hand, promises to pay unsecured
creditors in full with interest over time.

Unsecured creditors, which have claims aggregating $47 million,
would receive 10% when the plan becomes effective with 10% paid
annually for five years.  The remainder of their claims would be
paid on the fifth anniversary of plan confirmation.  Secured bank
lenders owed $110 million and secured noteholders owed $87 million
would receive full payment.  They would receive full payment with
interest in five years if they accept the plan, and full payment
with interest in 10 years if they reject the plan.

The secured bank lenders are Bank of America, Compass Bank and
Wells Fargo.  The secured noteholders are comprised of
T Prudential Insurance Co. of America, Northern Life Insurance
Co., Hartford Life Insurance Co., Reliastar Life Insurance Co.,
Pruco Life Insurance Co., Prudential Retirement Insurance and
Annuity Co., and United of Omaha Life Insurance Co.

A copy of the Plan is available for free at:

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

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

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

                         About Bashas' Inc.

Bashas' Inc. is a 77-year-old grocery chain that owns 158 retail
stores located throughout Arizona.  It is doing business as
National Grocery, Bashas Food, Bashas' United Drug, Food City,
Eddie's Country Store, A,.J. Fine Foods, Western Produce, Bashas'
Distribution Center, Sportsman's, and Bashas' Dine.

The Company and its affiliates filed for Chapter 11 bankruptcy
protection on July 12, 2009 (Bankr. D. Ariz. Case No. 09-16050).
Frederick J. Petersen, Esq., at Mesch, Clark & Rothschild, P.C.,
assists the Debtors in their restructuring efforts.  Michael W.
Carmel, Ltd., is the Debtors' co-counsel.  Deloitte Financial
Advisory LLP serves as financial advisors.  Epiq Bankruptcy
Solutions, LLC, serves as claims and notice agent.  In its
bankruptcy petition, Bashas' listed $100 million to $500 million
each in assets and debts.


BEAR ISLAND: Five Members Named to Creditors Panel
--------------------------------------------------
Robert B. Van Arsdale, the Assistant U.S. Trustee for Region 4,
appoints five members to the Official Committee of Unsecured
Creditors in Bear Island Paper Company, LLC's Chapter 11 cases.

The Committee members include:

1) Rappahannock Electric Cooperative
   Attn: Cynthia M. Spitler
   247 Industrial Court (22408)
   P.O. Box 7388
   Fredericksburg, VA 22404-7388
   Phone: (540) 891-5980
   Fax: (540) 891-5991
   E-mail: cspitler@myrec.coop

2) Voith Paper Fabrics & Rolls Systems, Inc.
   Attn: Stephanie Vincent
   Legal Department
   2200 N. Roemer Road
   Appleton, WI 54911
   Phone: (920) 358-2204
   Fax: (920) 731-1391
   E-mail: stephanie.vincent@voith.com

3) CrossGlobe Transport
   Attn: David C. Robertson
   11023 Washington Hwy #150
   Glen Allen, VA 23059
   Phone: (804) 412-4502
   Fax: (804) 550-2304
   E-mail: drobertson@crossglobegroup.com

4) Hanover County
   Attn: Rebecca Randolph
   P.O. Box 470
   7516 County Complex Road
   Hanover, VA 23069-0470
   Phone: (804) 365-6035
   Fax: (804) 365-6302
   E-mail: rbrandolph@co.hanover.va.us

5) Falling Creek Log Yard Inc.
   Attn: Micelle Gilman
   P.O. Box 644
   Ashland, VA 23005
   Phone: (804) 798-6121
   Fax: (804) 798-6151
   E-mail: fallingcrk@aol.com

                         About Bear Island

White Birch is the second-largest newsprint producer in North
America.  As of December 31, 2009, the WB Group held a 12% share
of the North American newsprint market and employed roughly 1,300
individuals (the majority of which reside in Canada).
Additionally, for the 12 months ended December 31, 2009, the WB
Group maintained an annual production capacity of roughly 1.3
million metric tons of newsprint and directory paper, up to 50% of
which consists of recycled content, and achieved net sales of
roughly $667 million.

Bear Island's assets are almost exclusively located in the U.S.

Bear Island Paper Company, L.L.C., filed a voluntary petition for
relief under Chapter 11 of the United States Bankruptcy Code in
the United States Bankruptcy Court for the Eastern District of
Virginia on February 24, 2010.

The company's parent, White Birch Paper Company, filed for
bankruptcy protection under Canada's Companies' Creditors
Arrangement Act, before the Superior Court for the Province of
Quebec, Commercial Division, Judicial District of Montreal,
Canada.  White Birch and five other affiliates -- F.F. Soucy
Limited Partnership; F.F. Soucy, Inc. & Partners, Limited
Partnership; Papier Masson Ltee; Stadacona Limited Partnership;
and Stadacona General Partner, Inc. -- also sought bankruptcy
protection under Chapter 15 of the U.S. Bankruptcy Code.

Jonathan L. Hauser, Esq., at Troutman Sanders LLP, in Virginia
Beach, Virginia; and Richard M. Cieri, Esq., Christopher J.
Marcus, Esq., and Michael A. Cohen, Esq., at Kirkland & Ellis LLP,
in New York, serve as counsel to White Birch, as Foreign
Representative.  Kirkland & Ellis and Troutman Sanders also serve
as Chapter 11 counsel to Bear Island.  AlixPartnes LLP serves as
financial/restructuring advisor to Bear Island, and Lazard Freres
& Co., serves as investment banker.  Chief Judge Douglas O. Tice,
Jr., handles the Chapter 11 and Chapter 15 cases.


BEAR ISLAND: Taps Garden City Group as Claims Agent
---------------------------------------------------
Bear Island Paper Company, L.L.C., has sought authorization from
the U.S. Bankruptcy Court for the Eastern District of Virginia to
employ The Garden City Group, Inc., as notice, claims and
solicitation agent.

Garden City will, among other things:

     a. prepare and serve a variety of documents on behalf of the
        Debtor in its Chapter 11 case;

     b. act as a balloting agent;

     c. maintain an official claims register in the Debtor's
        Chapter 11 case by docketing proofs of claim and proofs of
        interest in a database; and

     d. update the official claims register in accordance with
        court orders.

Garden City will be compensated for its services based on its
administration agreement with the Debtor.  A copy of the agreement
is available for free at:


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

Emily S. Gottlieb, a senior director of Garden City, assures the
Court that the firm is "disinterested" as that term is defined in
Section 101(14) of the Bankruptcy Code.

                         About Bear Island

White Birch is the second-largest newsprint producer in North
America.  As of December 31, 2009, the WB Group held a 12% share
of the North American newsprint market and employed roughly 1,300
individuals (the majority of which reside in Canada).
Additionally, for the 12 months ended December 31, 2009, the WB
Group maintained an annual production capacity of roughly 1.3
million metric tons of newsprint and directory paper, up to 50% of
which consists of recycled content, and achieved net sales of
roughly $667 million.

Bear Island's assets are almost exclusively located in the U.S.

Bear Island Paper Company, L.L.C., filed a voluntary petition for
relief under Chapter 11 of the United States Bankruptcy Code in
the United States Bankruptcy Court for the Eastern District of
Virginia on February 24, 2010.

The company's parent, White Birch Paper Company, filed for
bankruptcy protection under Canada's Companies' Creditors
Arrangement Act, before the Superior Court for the Province of
Quebec, Commercial Division, Judicial District of Montreal,
Canada.  White Birch and five other affiliates -- F.F. Soucy
Limited Partnership; F.F. Soucy, Inc. & Partners, Limited
Partnership; Papier Masson Ltee; Stadacona Limited Partnership;
and Stadacona General Partner, Inc. -- also sought bankruptcy
protection under Chapter 15 of the U.S. Bankruptcy Code.

Jonathan L. Hauser, Esq., at Troutman Sanders LLP, in Virginia
Beach, Virginia; and Richard M. Cieri, Esq., Christopher J.
Marcus, Esq., and Michael A. Cohen, Esq., at Kirkland & Ellis LLP,
in New York, serve as counsel to White Birch, as Foreign
Representative.  Kirkland & Ellis and Troutman Sanders also serve
as Chapter 11 counsel to Bear Island.  AlixPartnes LLP serves as
financial/restructuring advisor to Bear Island, and Lazard Freres
& Co., serves as investment banker.  Chief Judge Douglas O. Tice,
Jr., handles the Chapter 11 and Chapter 15 cases.


BEAR ISLAND: Taps Troutman Sanders as Co-Counsel
------------------------------------------------
Bear Island Paper Company, L.L.C., has sought permission from the
U.S. Bankruptcy Court for the Eastern District of Virginia to
employ Troutman Sanders LLP as bankruptcy and restructuring co-
counsel.

Troutman Sanders will, among other things:

     (a) advise and consult on the conduct of the Debtor's
         bankruptcy cases, including all of the legal and
         administrative requirements of operating in Chapter 11;

     (b) attend meetings and negotiate with representatives of
         creditors, Debtor's employees and other parties in
         interest;

     (c) advise the Debtor in connection with any sales of assets
         or business combinations, including the negotiation of
         asset, stock purchase, merger or joint venture
         agreements, evaluating competing offers, drafting
         appropriate corporate documents with respect to the
         proposed sales, and counseling the Debtor in connection
         with the closing of the sales; and

     (d) advise the Debtor in connection with any postpetition
         financing and cash collateral arrangements and
         negotiate and draft documents relating thereto, and
         provide advice and counsel with respect to any
         prepetition financing arrangements.

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

         Partners                   $335-$900
         Counsel                    $290-$675
         Associates                 $220-$525
         Legal Assistants           $135-$290
         Support Staff              $135-$290

Jonathan L. Hauser, a partner at Troutman Sanders, assures the
Court that the firm is "disinterested" as that term is defined in
Section 101(14) of the Bankruptcy Code.

The Debtor is also retaining the firm of Kirkland & Ellis, LLP, as
bankruptcy and restructuring co-counsel in these chapter 11
proceedings.  Troutman Sanders and KE have assured the Debtor that
they will use their best efforts to avoid the duplication of
services in these chapter 11 proceedings.

                         About Bear Island

White Birch is the second-largest newsprint producer in North
America.  As of December 31, 2009, the WB Group held a 12% share
of the North American newsprint market and employed roughly 1,300
individuals (the majority of which reside in Canada).
Additionally, for the 12 months ended December 31, 2009, the WB
Group maintained an annual production capacity of roughly 1.3
million metric tons of newsprint and directory paper, up to 50% of
which consists of recycled content, and achieved net sales of
roughly $667 million.

Bear Island's assets are almost exclusively located in the U.S.

Bear Island Paper Company, L.L.C., filed a voluntary petition for
relief under Chapter 11 of the United States Bankruptcy Code in
the United States Bankruptcy Court for the Eastern District of
Virginia on February 24, 2010.

The company's parent, White Birch Paper Company, filed for
bankruptcy protection under Canada's Companies' Creditors
Arrangement Act, before the Superior Court for the Province of
Quebec, Commercial Division, Judicial District of Montreal,
Canada.  White Birch and five other affiliates -- F.F. Soucy
Limited Partnership; F.F. Soucy, Inc. & Partners, Limited
Partnership; Papier Masson Ltee; Stadacona Limited Partnership;
and Stadacona General Partner, Inc. -- also sought bankruptcy
protection under Chapter 15 of the U.S. Bankruptcy Code.

Jonathan L. Hauser, Esq., at Troutman Sanders LLP, in Virginia
Beach, Virginia; and Richard M. Cieri, Esq., Christopher J.
Marcus, Esq., and Michael A. Cohen, Esq., at Kirkland & Ellis LLP,
in New York, serve as counsel to White Birch, as Foreign
Representative.  Kirkland & Ellis and Troutman Sanders also serve
as Chapter 11 counsel to Bear Island.  AlixPartnes LLP serves as
financial/restructuring advisor to Bear Island, and Lazard Freres
& Co., serves as investment banker.  Chief Judge Douglas O. Tice,
Jr., handles the Chapter 11 and Chapter 15 cases.


BEAR ISLAND: Wants Deadline for Filing of Schedules Extended
------------------------------------------------------------
Bear Island Paper Company, L.L.C., has asked the U.S. Bankruptcy
Court for the Eastern District of Virginia for additional time to
file schedules of assets and liabilities, schedules of executor
contracts and unexpired leases and statement of financial affairs
until seven days before the meeting of creditors pursuant to
Section 341 of the U.S. Bankruptcy Code.

The Debtor says that it hasn't yet completed the compilation of
information required to complete the schedules and statements due
to the complexity and diversity of its operations, hundreds of
potential creditors, and the numerous critical operational matters
that the Debtor's accounting and legal personnel must address in
the early days of the Debtor's Chapter 11 case, the limited staff
available to perform the required internal review of the Debtor's
business and affairs, the related Chapter 15 cases and the
Canadian subsidiaries of the Debtor's parent company (White Birch
Paper Holding Company).

                         About Bear Island

White Birch is the second-largest newsprint producer in North
America.  As of December 31, 2009, the WB Group held a 12% share
of the North American newsprint market and employed roughly 1,300
individuals (the majority of which reside in Canada).
Additionally, for the 12 months ended December 31, 2009, the WB
Group maintained an annual production capacity of roughly 1.3
million metric tons of newsprint and directory paper, up to 50% of
which consists of recycled content, and achieved net sales of
roughly $667 million.

Bear Island's assets are almost exclusively located in the U.S.

Bear Island Paper Company, L.L.C., filed a voluntary petition for
relief under Chapter 11 of the United States Bankruptcy Code in
the United States Bankruptcy Court for the Eastern District of
Virginia on February 24, 2010.

The company's parent, White Birch Paper Company, filed for
bankruptcy protection under Canada's Companies' Creditors
Arrangement Act, before the Superior Court for the Province of
Quebec, Commercial Division, Judicial District of Montreal,
Canada.  White Birch and five other affiliates -- F.F. Soucy
Limited Partnership; F.F. Soucy, Inc. & Partners, Limited
Partnership; Papier Masson Ltee; Stadacona Limited Partnership;
and Stadacona General Partner, Inc. -- also sought bankruptcy
protection under Chapter 15 of the U.S. Bankruptcy Code.

Jonathan L. Hauser, Esq., at Troutman Sanders LLP, in Virginia
Beach, Virginia; and Richard M. Cieri, Esq., Christopher J.
Marcus, Esq., and Michael A. Cohen, Esq., at Kirkland & Ellis LLP,
in New York, serve as counsel to White Birch, as Foreign
Representative.  Kirkland & Ellis and Troutman Sanders also serve
as Chapter 11 counsel to Bear Island.  AlixPartnes LLP serves as
financial/restructuring advisor to Bear Island, and Lazard Freres
& Co., serves as investment banker.  Chief Judge Douglas O. Tice,
Jr., handles the Chapter 11 and Chapter 15 cases.


BERNARD MADOFF: UBS, Ernst & Young Win Bid to Block Lawsuits
------------------------------------------------------------
Stephanie Bodoni at Bloomberg News reports that UBS AG and Ernst &
Young LLP won a Luxembourg court ruling potentially blocking
hundreds of claims by investors who lost money in funds tied to
Bernard Madoff's fraud.  Luxembourg's commercial court said in a
ruling March 4 concerning 10 test cases that investors can't bring
individual lawsuits for damages.  The court said it's up to the
liquidators of the funds that invested with Madoff to seek the
"recovery of the capital assets."

According to the report, the Luxembourg case comes as UBS aims to
post its first annual profit since 2006 this year and halt
withdrawals by wealthy clients after spinning off toxic assets.

Bloomberg recounts that investors who lost millions of dollars
through Access International Advisors LLC's LuxAlpha Sicav-
American Selection fund filed more than 100 lawsuits against UBS
and Ernst & Young for "seriously neglecting" their fund
supervisory duties.  UBS served as the custodian for LuxAlpha.

                   About Bernard L. Madoff

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

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

On April 13, 2009, former BLMIS clients filed an involuntary
Chapter 7 bankruptcy petition against Bernard Madoff (Bankr.
S.D.N.Y. 09-11893).  The case is before Hon. Burton Lifland.  The
petitioning creditors -- Blumenthal & Associates Florida General
Partnership, Martin Rappaport Charitable Remainder Unitrust,
Martin Rappaport, Marc Cherno, and Steven Morganstern -- assert
$64 million in claims against Mr. Madoff based on the balances
contained in the last statements they got from BLMIS.

On April 14, 2009, Grant Thornton UK LLP as receiver placed Madoff
Securities International Limited in London under bankruptcy
protection pursuant to Chapter 15 of the U.S. Bankruptcy Code
(Bankr. S.D. Fla. 09-16751).

The Chapter 15 case was later transferred to Manhattan.  In June
2009, Judge Lifland approved the consolidation of the Madoff SIPA
proceedings and the bankruptcy case.

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


BIG CEDAR CREEK: Case Summary & 3 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Big Cedar Creek Development, LLC
        103 North Main Street
        Jasper, GA 30143

Bankruptcy Case No.: 10-20948

Chapter 11 Petition Date: March 2, 2010

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

Debtor's Counsel: John J. McManus, Esq.
                  John J. McManus & Associates, P.C.
                  Building H, 3554 Habersham at Northlake
                  Tucker, GA 30084
                  Tel: (770) 492-1000
                  Email: jmcmanus@mcmanus-law.com

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

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

According to the schedules, the Company has assets of $1,800,000,
and total debts of $3,349,658.

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

                  http://bankrupt.com/misc/ganb10-20948.pdf

The petition was signed by Julio J. Gonzalez, sole member of the
Company.


BOYD GAMING: Moody's Reviews 'B1' Corporate Family Rating
---------------------------------------------------------
Moody's Investors Service placed the ratings of Boyd Gaming
Corporation's on review for possible downgrade.  The decision to
place Boyd on review reflects Moody's heightened concern regarding
the company's ability to achieve and sustain debt/EBITDA below 6.0
times by the end of fiscal 2010 -- the target leverage needed to
maintain its B1 Corporate Family Rating.

These ratings were affected:

  -- Corporate Family Rating at B1
  -- Probability of Default Rating at B1
  -- Senior subordinated notes at B3

Boyd has an SGL-3 Speculative Grade Liquidity rating which
indicates adequate liquidity.  The company's $3 billion revolver
is not rated.

Despite significant cost cutting, Boyd's consolidated revenue and
profitability continues to be hurt by the company's significant
exposure to the Las Vegas Locals market.  The Las Vegas Locals
market accounts for about 40% of Boyd's consolidated wholly-owned
property-level EBITDA.

"Earnings visibility in the Las Vegas Locals market remains weak
and Moody's are concerned that Boyd may experience a further and
significant EBITDA decline from that business segment in 2010,"
stated Keith Foley, Senior Vice President.  "Boyd's debt/EBITDA --
currently at about 7 times and already considered high for a B1
rating -- may increase to a level more consistent with a lower
rating."

Moody's review will focus on Boyd's ability and willingness to
reduce leverage to a level considered more appropriate for its
current rating.  Also considered will be the company's ability to
maintain compliance with its bank agreement financial covenants.
Although the financial covenants in Boyd's bank agreement were
recently relaxed, continued and significant declines in
consolidated EBITDA could challenge the company's ability to
maintain compliance.

The last rating action for Boyd was on December 17, 2009, when
Moody's commented that the company's ratings were not immediately
affected by its announcement that it made a non-binding proposal
to acquire Station Casinos, Inc.

Boyd owns and operates gaming and entertainment facilities located
in Nevada, Mississippi, Illinois, Louisiana, and Indiana.  The
company is also 50% partner in a joint venture that owns and
operates the Borgata Hotel Casino in Atlantic City, New Jersey.
Boyd generates about $1.64 billion of annual net revenue.


BREWERY LOFT PARTNERS: Case Summary & 20 Largest Unsec. Creditors
-----------------------------------------------------------------
Debtor: Brewery Loft Partners, L.P.
           aka Lone Star Brewery
        600 Lone Star Blvd.
        San Antonio, TX 78204

Bankruptcy Case No.: 10-50784

Chapter 11 Petition Date: March 1, 2010

Court: United States Bankruptcy Court
       Western District of Texas (San Antonio)

Judge: Chief Bkptcy Judge Ronald B. King

Debtor's Counsel: Pedro V. Hernandez, Jr., Esq.
                  5820 IH 10 West, Suite 100
                  San Antonio, TX 78201
                  Tel: (210) 224-1111
                  Fax: (210) 732-0158
                  Email: pvhlawcpa@yahoo.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/txwb10-50784.pdf

The petition was signed by Mark F. Tolley.


BROADSTRIPE LLC: Plan Exclusivity Extended to April 27
------------------------------------------------------
Bill Rochelle at Bloomberg News reports that Broadstripe LLC
received an extension until April 27 of the exclusive right to
propose a reorganization plan.

Broadstripe already filed a reorganization plan to carry out an
agreement reached before the Chapter 11 filing with holders of the
first- and second-lien debt.  But like in the previous extension
requests, Broadstripe noted that the official committee of
unsecured creditors has filed a lawsuit seeking to invalidate the
lenders' liens.  Until the suit is resolved, the Committee won't
support a plan that recognizes the validity of the lenders'
claims.

The Company said progress is being held up by $158 million in
claims filed by two rival cable operators for alleged failure to
complete asset purchase agreements.

                      About Broadstripe LLC

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


BTA BANK: Restructuring Receives Recognition in U.S.
----------------------------------------------------
Anvar Saidenov, the chairman of JSC BTA Bank, said that on March 2
the U.S. Bankruptcy Court for the Southern District of New York
entered an order granting BTA's application for recognition under
Chapter 15 of its current restructuring proceeding in Kazakhstan
as a "foreign main proceeding".

This order imposes a stay on, among other things, any proceedings
against BTA or against its property in the U.S.

BTA Bank earlier said a court in Kiev, Ukraine, on February 17
issued a ruling "recognizing" the legitimacy of its debt
restructuring process.  BTA Bank also said Dec. 22 the High Court
of Justice of England and Wales recognized the bank's
restructuring, giving the bank a suspension of proceedings against
its assets.

                          About BTA Bank

BTA Bank AO (BTA Bank JSC), formerly Bank TuranAlem AO --
http://bta.kz/-- is a Kazakhstan-based financial institution,
which is involved in the provision of banking and financial
products for private and corporate clients.

The BTA Group is one of the leading banking groups in the
Commonwealth of Independent States and has affiliated banks in
Russia, Ukraine, Belarus, Georgia, Armenia, Kyrgyzstan and Turkey.
In addition, the Bank maintains representative offices in Russia,
Ukraine, China, the United Arab Emirates and the United Kingdom.
The Bank has no branch or agency in the United States, and its
primary assets in the United States consist of balances in
accounts with correspondent banks in New York City.

As of 30 November 2009 the Bank employed 5,043 people inside and 4
people outside Kazakhstan. It has no employees in the United
States.  Most of the Bank's assets, and nearly all its tangible
assets, are located in Kazakhstan.

JSC BTA Bank, also known as BTA Bank of Kazakhstan, filed for
Chapter 15 bankruptcy protection in New York on Feb. 4, 2010
(Bankr. S.D.N.Y. Case No. 10-10638), listing more than $1 billion
in both assets and debt.

BTA Bank wants the Bankruptcy Court in Manhattan to enter an order
recognizing the voluntary judicial restructuring proceeding that
was initiated by the bank in the Specialized Financial Court of
Almaty City in Kazakhstan and opened pursuant to an Oct. 16, 2009
decision of the Financial Court, as a foreign main proceeding
pursuant to 11 U.S.C. Secs. 1515 and 1517.

BTA Bank is represented in the Chapter 15 proceedings by White &
Case LLP.


CANWEST GLOBAL: President & Chief Executive Officer Resigns
-----------------------------------------------------------
Canwest Global Communications Corp. disclosed that Mr. Leonard
Asper has tendered his resignation as President and Chief
Executive Officer and all other director and officer positions
with Canwest and its subsidiaries in order to pursue other
business opportunities and to avoid any concerns regarding
potential conflicts of interest.  Mr. Asper will continue to
provide the Company with advice through a consulting agreement
until such time that Canwest emerges from CCAA protection.

Mr. Asper's positions will not be filled given the Company's
court-supervised restructuring which commenced in October 2009,
and the Company's newspaper and online publishing group pursuing a
separate court-supervised financial restructuring plan, which
commenced in January.

Canwest's television broadcasting businesses will continue under
the leadership of President and CEO Mr. Peter Viner and his senior
management team.  Canwest Limited Partnership, Canwest (Canada)
Inc. and their subsidiaries, which operate Canwest's newspaper
publishing and online operations, will also continue under its
existing senior management team.

"I would like to thank Leonard for his years of dedicated
leadership and unwavering commitment to Canwest," said Derek
Burney, Canwest's Chairman of the Board.  "His vision and
determination over the last decade has been instrumental in
shaping the Canadian media landscape."

The remaining Board members Derek Burney, David Drybrough, David
Kerr and Margot Micallef are Independent directors actively
involved in the Company's financial restructuring activities.

                   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).


CARBURTON PROPERTIES: Voluntary Chapter 11 Case Summary
-------------------------------------------------------
Debtor:  Carburton Properties 8, LLC
         1001 S.W. 5th Avenue, Suite 1300
         Portland, OR 97204

Bankruptcy Case No.: 10-10762

Chapter 11 Petition Date: March 3, 2010

Court: United States Bankruptcy Court
       District of Delaware (Delaware)

Debtor's Counsel: Robert K. Beste, Jr., Esq.
                  Cohen Seglias Pallas Greenhall & Furman
                  Suite 205, Nemours Bldg. 1007 Orange St.
                  Wilmington, DE 19801
                  Tel: (302) 425-5089
                  Fax: (302) 425-5097
                  Email: rbeste@cohenseglias.com

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

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

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


CATALYST PAPER: Proceeds with Distressed Exchange
-------------------------------------------------
Catalyst Paper is pursuing an offer to exchange its senior
unsecured notes with an 8.625% coupon due 2011 for new senior
secured notes due December 2016.

Under the exchange offer, holders who validly tender and do not
validly withdraw their Old Notes will receive, for each $1,000
principal amount of Old Notes accepted for exchange, $830 in
principal amount of New Notes.  Holders will also receive an
additional $50 in principal amount of New Notes as an early tender
amount for each $1,000 principal amount of Old Notes accepted for
exchange that are validly tendered before Feb. 25, 2010, and not
withdrawn.

Catalyst Paper disclosed that US$318,676,000 in principal amount
of the Old Notes, or 89.96% of the outstanding Old Notes, had been
validly tendered as of the expiration of the early tender and
withdrawal date on February 25, 2010.  The current exchange offer
has been extended and is set to expire on March 5, 2010.

In light of the tenders received to date, Catalyst has determined
to reduce the minimum tender condition to US$318,676,000 in
principal amount of the Old Notes, which represents the principal
amount of Old Notes that have been validly tendered as of the
Early Payment Date and which remains the principal amount of Old
Notes tendered.  Accordingly, this reduction in the minimum tender
condition is in effect a waiver of that condition.  Because the
withdrawal date of the Exchange Offer has expired, holders that
have already tendered their Old Notes in the Exchange Offer may
not withdraw their tenders or revoke their consents, unless
Catalyst re-opens the withdrawal period in its discretion, or as
otherwise provided in the Offer Documents.

                      About Catalyst Paper

Headquartered in Richmond, British Columbia, Catalyst Paper
Corporation (TSX:CTL) manufactures diverse specialty printing
papers, newsprint and pulp.  Its customers include retailers,
publishers and commercial printers in North America, Latin
America, the Pacific Rim and Europe.  With six mills strategically
located in British Columbia and Arizona, Catalyst has a combined
annual production capacity of 2.5 million tones.

At September 30, 2009, the Company had C$2.20 billion in total
assets against C$1.29 billion in total liabilities.  At
September 30, 2009, the Company had liquidity of C$192.9 million,
comprised of C$90.6 million cash, and availability of
C$102.3 million on the Company's asset-based loan facility.

                          *     *     *

In March 2010, Standard & Poor's Rating Services said it kept its
ratings, including its 'CC' long-term corporate credit rating, on
Vancouver-based Catalyst Paper Corp. on CreditWatch with negative
implications, where they were placed Nov. 25, 2009.

Catalyst Paper continues to pursue an offer to exchange its senior
unsecured notes with an 8.625% coupon due 2011 for new senior
secured notes due December 2016.  Standard & Poor's will likely
lower the ratings on Catalyst Paper to 'SD' (selective default)
upon completion of the exchange offer.  "Standard & Poor's views
the offer as distressed because it represents a discount on the
face value of the existing senior unsecured debt," said Standard &
Poor's credit analyst Jatinder Mall.


CENTRAL VALLEY: Sells 66 Franchises for $39 Million
---------------------------------------------------
According to Chain Leader, the sale of 66 Jack in the Box
Franchises reaps $39,018,877, which exceeded the stalking horse
bid of $27 million.  The winning bid were awarded to a group led
by Ben Nematzadeh for 31 units in the Fresno and Chico/Redding
areas; Anil Yadav for 31 units in the Sacramento area; Romesh
Japra for Eureka and Crescent City; and Jyoti Madhura for the
remaining two units in the Fresno area.

The auction, report says, was conducted by National Franchise sale
in February 2010 under the direction of Beverly N. McFarland,
Chapter 11 Trustee for Central Valley Food Services Inc.

The sale is expected to close in April 2010.

Based in Reoseville, California, Central Valley Food Services Inc.
operates a chain of restaurant.  The company filed for Chapter 11
protection on Sept. 18, 2009 (Bankr. E.D. Calif. Case No. 09-
18993).  Matthew R. Eason, Esq., represents the Debtor in its
restructure efforts.  The Debtor listed assets of less than
$50,000, and liabilities of between $10 million and $50 million.


CHARLES PHILIP COWIN: Files List of Unsecured Creditors
-------------------------------------------------------
Charles Philip Cowin has filed with the U.S. Bankruptcy Court for
the Northern District of Illinois a list of 20 largest unsecured
creditors.

A full-text copy of the Debtor's list of creditors is available
for free at http://bankrupt.com/misc/txsb10-31478.pdf

Houston, Texas-based Charles P. Cowin filed for Chapter 11
bankruptcy protection on February 24, 2010 (Bankr. S.D. Texas Case
No. 10-31478).  Richard L. Fuqua, II, Esq., at Fuqua & Keim,
assists the Company in its restructuring effort.  The Company
estimated assets and debts at $10,000,001 to $50,000,000.


CITADEL BROADCASTING: Reports $50.5-Mil. Operating Income for Q4
----------------------------------------------------------------
Citadel Broadcasting Corporation reported certain results for the
quarter and year ended December 31, 2009.

                         Three Months Ended         Years Ended
                           December 31,          December 31,
                        ------------------   ---------------------
                          2009      2008      2009        2008
                        --------  --------   --------   ----------
                            (Unaudited, amounts in thousands)

Net revenue             $192,858  $214,231  $723,620    $863,121
Operating income (loss)   50,473  (787,331) (841,399) (1,024,017)
Operating income          50,473    49,166   144,254     205,631
Segment operating income  65,443    67,254   218,501     289,944

Net revenue for the fourth quarter of 2009 was $192.9 million as
compared to $214.2 million for the fourth quarter of 2008, a
decrease of $21.3 million, or 9.9%.  This decline was due in part
to the discontinuance of certain network programs as well as the
absence of political revenues in the fourth quarter of 2009.
Excluding the discontinued programs, net revenues would have
declined by approximately 7.4%.  Our Radio Markets segment (radio
stations) net revenue was $161.2 million in the fourth quarter of
2009 compared to $169.8 million in the same period in 2008, a
decrease of approximately $8.6 million or 5.1% principally due to
a decline in political revenue.  Generally, Citadel's stations in
larger metropolitan markets performed better than those stations
in medium to small metropolitan markets.

Operating income for the fourth quarter of 2009 was
$50.5 million as compared to an operating loss of $787.3 million
in the corresponding 2008 period.  The fourth quarter of 2008
included an impairment charge of approximately $836.5 million.
Excluding such charge, the operating income for the fourth quarter
of 2009 was approximately $50.5 million compared to the
$49.2 million in the fourth quarter of 2008, an increase of
approximately $1.3 million, or 2.6%.

Segment operating income (a non-GAAP financial measure generally
defined as operating income (loss) adjusted to exclude
depreciation and amortization, stock-based compensation,
corporate general and administrative expenses, non-cash amounts
related to contract obligations, asset impairment and disposal
charges, local marketing agreement fees, and other, net) was
$65.4 million for the fourth quarter of 2009, compared to
$67.3 million for the fourth quarter of 2008.  This decrease of
$1.9 million, or 2.8%, was entirely due to the decline at the
Radio Network segment.  The Company?s Radio Markets segment
operating income was essentially flat for the quarter.

Farid Suleman, Chairman and Chief Executive Officer of Citadel
Broadcasting Corporation, commented: "The current economic
environment for our industry combined with the Company's
bankruptcy filing made for a difficult fourth quarter.  However,
our focus on expense reductions enabled the Company to generate
segment operating income of over $65 million or a decline of less
than 3% when compared to the fourth quarter of 2008.  In spite of
the bankruptcy filing, the Company has continued to make all of
the interest payments required under its senior debt and had
approximately $57.4 million in cash as of December 31, 2009.  The
Company did not need to secure debtor in possession financing."

                        Segment Results

The table below presents net revenue and segment operating income
for the Company for the three and twelve months ended December 31,
2009 and 2008.

                          Three Months Ended        Years Ended
                              December 31,          December 31,
                          -----------------   --------------------
                            2009       2008      2009       2008
                          --------  --------  --------  ----------
                               (Unaudited, amounts in thousands)
Net revenue:
    Radio markets         $161,243  $169,779  $604,120    $688,815
    Radio network           32,537    46,418   123,418     181,798
    Eliminations              (922)   (1,966)   (4,339)    (7,492)
                          --------  --------  --------  ----------
Net revenue              $192,858  $214,231  $723,620    $863,121
                          ========  ========  ========  ==========

Segment operating income:
    Radio markets          $59,518   $59,656  $214,942    $261,405
    Radio network            5,925     7,598     3,559      28,539
                          --------  --------  --------  ----------
Segment operating income $465,443   $67,254  $218,501    $289,944
                          ========  ========  ========  ==========

                     Bankruptcy Proceedings

On December 20, 2009, Citadel Broadcasting Corporation, and
certain of its subsidiaries filed voluntary petitions in the
United States Bankruptcy Court for the Southern District of New
York seeking relief under the provisions of Chapter 11 of Title
11 of the United States Code.  In connection with the Chapter 11
cases, on February 3, 2010, the Debtors filed with the Court a
proposed joint plan of reorganization and a related disclosure
statement pursuant to Chapter 11. Copies of the Plan and
Disclosure Statement are publicly available and may be accessed
free of charge at the Debtors' private website at
http://www.kccllc.net/citadel

                     Our Station Portfolio

Citadel Broadcasting Corporation is the third largest radio group
in the United States, with a national footprint reaching more than
50 markets.  Citadel is comprised of 166 FM stations and 58 AM
stations in the nation?s leading markets, in addition to the ABC
Radio Network business, which is one of the three largest radio
networks in the United States.  For more information, visit
www.citadelbroadcasting.com

Supplemental Disclosures Regarding Non-GAAP Financial Information
               (Unaudited; Amounts in thousands)

The following table sets forth the Company's segment operating
income (loss) for the quarters and years ended December 31, 2009
and 2008.  The Company defines "segment operating income" as
operating income (loss) adjusted to exclude the following line
items included in its statement of operations: depreciation and
amortization, stock-based compensation, corporate general and
administrative expenses, non-cash amounts related to contract
obligations, asset impairment and disposal charges, local
marketing agreement fees, and other, net.

Segment operating income, among other things, is used by the
Company?s management to evaluate the Company's operating
performance, to value prospective acquisitions, and as the basis
of incentive compensation targets for certain management
personnel.

In addition, this measure is among the primary measures used by
management for the planning and forecasting of future periods.
The Company believes the presentation of this measure is relevant
and useful for investors because it allows investors to view the
performance in a manner similar to the method used by the
Company's management, helps improve their ability to understand
the Company's operating performance and makes it easier to
compare the Company?s results with other companies that have
different financing and capital structures or tax rates.  In
addition, this measure is also among the primary measures used
externally by the Company's investors, analysts and peers in its
industry for purposes of valuation and comparing the operating
performance of the Company to other companies in its industry.

Since segment operating income is not a measure of performance
calculated in accordance with accounting principles generally
accepted in the United States of America ("GAAP"), it should not
be considered in isolation of, or as a substitute for, operating
income or loss, net income or loss, cash flows provided by
operating, investing and financing activities, or other income or
cash flow statement data prepared in accordance with GAAP.

Segment operating income, as the Company calculates it, may not
be comparable to similarly titled measures employed by other
companies.  In addition, segment operating income does not
necessarily represent the residual cash flow that is available
for discretionary expenditures and excludes other non-
discretionary expenditures, including among others, mandatory
debt service requirements.  As a result, segment operating income
is not necessarily a measure of the Company's liquidity or its
ability to fund its cash needs.  Segment operating income does
not reflect the periodic costs of certain capitalized tangible
and intangible assets used in generating revenues in the
Company's business.  As segment operating income excludes certain
financial information compared with operating income or loss, the
most directly comparable GAAP financial measure, users of this
financial information should consider the types of events and
transactions that are excluded.  As required by the Securities and
Exchange Commission ("SEC"), the Company provides below a
reconciliation of segment operating income to operating income or
loss, the most directly comparable amount reported under GAAP.

                                3-months ended     Year Ended
                                 Dec. 31, 2009    Dec. 31, 2009
                                 -------------    -------------
Segment operating income:
    Radio markets                  $59,518,000     $214,942,000
    Radio network                    5,925,000        3,559,000

Asset impairment and                        -                -
    disposal charges

Corporate general and              (5,216,000)     (25,380,000)
    administrative, incl.
    stock-based compensation

Local marketing agreement            (257,000)      (1,027,000)
    fees

Stock-based compensation           (1,393,000)      (5,400,000)
    expense

Depreciation & amortization        (7,574,000)     (35,599,000)
Other, net                           (530,000)      (6,841,000)
                               ---------------    -------------
Total operating income            $50,473,000    ($841,399,000)
   (loss)                      ===============    =============

                    About Citadel Broadcasting

Citadel Broadcasting Corporation (OTC BB: CTDB) --
http://www.citadelbroadcasting.com/-- is the third largest radio
group in the United States, with a national footprint reaching
more than 50 markets.  Citadel is comprised of 166 FM stations and
58 AM stations in the nation's leading markets, in addition to
Citadel Media, which is one of the three largest radio networks in
the United States.

Citadel Broadcasting filed for Chapter 11 with 50 affiliates on
Dec. 20, 2009, in Manhattan (Bankr. S.D.N.Y. Case No. 09-17422).
The Company listed assets of $1.4 billion and debt of $2.5 billion
in its Chapter 11 filing.  Kirkland & Ellis LLP is serving as
legal counsel and Lazard Freres & Co. LLC as financial advisor for
the restructuring.  Kurtzman Carson Consultants is serving as
claims and notice agent.

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


CITADEL BROADCASTING: Wants Until June 18 to Remove Actions
-----------------------------------------------------------
Rule 9027 of the Federal Rules of Bankruptcy Procedure sets forth
the time periods for filing notices to remove claims or causes of
action.  Specifically, Rule 9027(a)(2) provides that if the claim
or cause of action in a civil action is pending when a case under
the Bankruptcy Code is commenced, a notice of removal may be
filed only within the longest of:

  -- 90 days after the order for relief in the case under the
     Code;

  -- 30 days after entry of an order terminating a stay, if the
     claim or cause of action in a civil action has been stayed
     under Section 362 of the Code; or

  -- 30 days after a trustee qualifies in a Chapter 11
     reorganization case but not later than 180 days after the
     order for relief.

By this motion, Citadel Broadcasting Corporation and its debtor-
affiliates seek a 90-day extension of the Removal Period, through
and including June 18, 2010, without prejudice to their right to
seek further extensions.

Jonathan S. Henes, Esq., at Kirkland & Ellis LLP, in New York,
relates that since the Petition Date, the Debtors have worked
diligently on a number of critical matters, like stabilizing
their business operations, negotiating and drafting key
restructuring documents, and preparing their schedules of assets
and liabilities and statements of financial affairs, and are not
yet prepared to decide which, if any, of the civil actions they
will seek to remove to the Court.

The time within which the Debtors may file notices of removal for
Civil Actions that have not been stayed expires on March 20,
2010.

Mr. Henes argues that if an extension is not granted, the Debtors
will not have sufficient time to adequately consider whether
removal of the Civil Actions is necessary.

                    About Citadel Broadcasting

Citadel Broadcasting Corporation (OTC BB: CTDB) --
http://www.citadelbroadcasting.com/-- is the third largest radio
group in the United States, with a national footprint reaching
more than 50 markets.  Citadel is comprised of 166 FM stations and
58 AM stations in the nation's leading markets, in addition to
Citadel Media, which is one of the three largest radio networks in
the United States.

Citadel Broadcasting filed for Chapter 11 with 50 affiliates on
Dec. 20, 2009, in Manhattan (Bankr. S.D.N.Y. Case No. 09-17422).
The Company listed assets of $1.4 billion and debt of $2.5 billion
in its Chapter 11 filing.  Kirkland & Ellis LLP is serving as
legal counsel and Lazard Freres & Co. LLC as financial advisor for
the restructuring.  Kurtzman Carson Consultants is serving as
claims and notice agent.

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


CITADEL BROADCASTING: Proposes April 21 Claims Bar Date
-------------------------------------------------------
Citadel Broadcasting Corp. and its units ask the United States
Bankruptcy Court for the Southern District of New York to
establish these dates as the deadline for entities to file proofs
of claim in their Chapter 11 cases:

  (a) April 21, 2010, at 5:00 p.m. (Prevailing Pacific Time) for
      all claims, including administrative claims, except
      government claims;

  (b) June 18, 2010, at 5:00 p.m. (Prevailing Pacific Time) for
      all governmental units.

Jonathan S. Henes, Esq., at Kirkland & Ellis LLP, in New York,
relates that the Debtors anticipate that there may be over a
thousand potential claimants in the Chapter 11 cases, which
raises the possibility of a time consuming claims reconciliation
process.

"Because the Debtors hope to exit Chapter 11 expeditiously as
part of a streamlined financial restructuring, the Debtors desire
to begin the claims process as soon as possible," Mr. Henes says.

To effectuate the desired result, the Debtors need complete and
accurate overview-level information regarding the nature, amount
and status of asserted claims, Mr. Henes further asserts.  He
notes that some of the analysis is well underway, but the precise
nature and scope of asserted claims will be clearly established
only after a claims bar date has been set.

Certain claimants, however, are exempted from the Bar Date.
These are those:

  -- that have already filed a proof of claim;

  -- whose claims are listed in the Debtors' schedules of assets
     and liabilities and are not "disputed," "contingent," or
     "unliquidated";

  -- whose claims have been allowed by the Court;

  -- whose claims have been paid in full;

  -- whose claims have specific deadlines established by the
     Court;

  -- whose claims are intercompany claims;

  -- whose claims are allowable as an expense of administration,
     except claims under Section 503(b)(9) of the Bankruptcy
     Code;

  -- who are current employees of the Debtors and whose claims
     are in the ordinary course of business like wages and
     commissions;

  -- who are holders of claims that are limited exclusively to
     the repayment of principal, interest or other applicable
     fees and charges owed under any bond or note issued by the
     Debtors pursuant to an indenture or a credit agreement; and

  -- who are holders of equity interests, which are based
     exclusively upon an interest in the equity ownership of any
     of the Debtors.

On or before March 16, 2010, the Debtors propose to mail written
a notice of the Bar Date to parties-in-interest.  For creditors
whose addresses are unknown, the Debtors propose to publish
notice of the Bar Date in the national editions of "The Wall
Street Journal" and "USA Today" on or before March 23, 2010.

Mr. Henes tells the Court that the Debtors may need to establish
supplemental bar dates to ensure that all known and unknown
creditors receive a "Bar Date Package".  To minimize any time and
expense associated with having to seek subsequent orders from the
Court, the Debtors ask that they be permitted to establish
Supplemental Bar Dates upon the written consent of the U.S.
Trustee and the Official Committee of Unsecured Creditors.

For any Claimant who fails to file a Proof of Claim on or before
the Bar Date or a Supplemental Bar Date, the Debtors propose that
the Claimant will be forever barred, estopped and enjoined from
asserting a claim against the Debtors, and the Debtors' property
will be forever discharged from any and all indebtedness or
liability with respect to the Claim, and the holder will not: (a)
be treated as a creditor with respect to the Claim; (b)
participate in any distribution on account of the claim; or (c)
be permitted to receive further notices regarding the Claim.

                    About Citadel Broadcasting

Citadel Broadcasting Corporation (OTC BB: CTDB) --
http://www.citadelbroadcasting.com/-- is the third largest radio
group in the United States, with a national footprint reaching
more than 50 markets.  Citadel is comprised of 166 FM stations and
58 AM stations in the nation's leading markets, in addition to
Citadel Media, which is one of the three largest radio networks in
the United States.

Citadel Broadcasting filed for Chapter 11 with 50 affiliates on
Dec. 20, 2009, in Manhattan (Bankr. S.D.N.Y. Case No. 09-17422).
The Company listed assets of $1.4 billion and debt of $2.5 billion
in its Chapter 11 filing.  Kirkland & Ellis LLP is serving as
legal counsel and Lazard Freres & Co. LLC as financial advisor for
the restructuring.  Kurtzman Carson Consultants is serving as
claims and notice agent.

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


CITADEL BROADCASTING: Committee Wants EPIQ to Provide Info
----------------------------------------------------------
The Official Committee of Unsecured Creditors in Citadel
Broadcasting Corp. asks the Court for authority to implement
certain procedures to enable the Committee's compliance with
Section 1102(b)(3) of the Bankruptcy Code, including, without
limitation, establishing a "Committee Website".

According to Kristopher M. Hansen, Esq., at Stroock & Stroock &
Lavin LLP, in New York, the Procedures will allow the Committee
to satisfy its statutory obligations to provide access to
information to the Debtors' general unsecured creditors and to
solicit and receive comments from the unsecured creditors in
accordance with Section 1102(b)(3).  In connection with the
implementation of the Procedures, and to further fulfill its
statutory obligations in an efficient and effective manner, the
Committee seeks to retain Epiq Bankruptcy Solutions LLC as its
Web site administration agent.

The information available on the Committee Web site will include:

  a. general information regarding the Chapter 11 Cases;

  b. the contact information for the Debtors, the Debtors'
     counsel and the Committee's counsel;

  c. the date by which unsecured creditors must file proofs of
     claim;

  d. the voting deadline with respect to any Chapter 11 plan of
     reorganization filed in the Chapter 11 Cases;

  e. the claims docket, as and when established by the Debtors
     or their claims agent;

  f. a general overview of the Chapter 11 process;

  g. press releases (if any) issued by the Debtors or the
     Committee;

  h. filings, if any, made by the Debtors with the Securities
     and Exchange Commission;

  i. the Debtors' monthly operating reports;

  j. a list of upcoming omnibus hearing dates and the calendar
     of matters on the hearing dates;

  k. available transcripts from all hearings in the Chapter 11
     Cases;

  l. material pleadings and orders filed in the Chapter 11
     Cases;

  m. answers to frequently asked questions;

  n. links to other relevant Web sites; and

  o. any other information that the Committee, in its sole and
     absolute discretion, deems appropriate, which may include
     contact information for entities that have appeared as
     transferees of claims under Rule 3001(e)(2) of the Federal
     Rules of Bankruptcy Procedure.

In addition to establishing the Committee Web site, the Committee
will establish an e-mail address to allow unsecured creditors to
send questions and comments concerning the Chapter 11 Cases.  A
link to the Committee E-mail Address will be made available on
the Committee Web site.

                        Epiq's Retention

In order to establish and maintain the Committee Web site in an
efficient manner, the Committee seeks to retain Epiq as its Web
site Administration Agent.

Mr. Hansen says that the reasonable fees and expenses of the
Committee and its agents, including Epiq, relating to the
establishment and maintenance of the Committee Web site, other
than the fees and expenses of the Committee's retained
professionals, will be payable by the Debtors in the ordinary
course and treated as administrative expenses pursuant to Section
503(b) of the Bankruptcy Code.

The Debtors will pay Epiq based on its hourly rates:

  Clerk                          $40 to $60
  Case Manager (Level 1)        $125 to $175
  IT Programming Consultant     $140 to $190
  Case Manager (Level 2)        $185 to $220
  Senior Case Manager           $225 to $275
  Senior Consultant             $295

                    About Citadel Broadcasting

Citadel Broadcasting Corporation (OTC BB: CTDB) --
http://www.citadelbroadcasting.com/-- is the third largest radio
group in the United States, with a national footprint reaching
more than 50 markets.  Citadel is comprised of 166 FM stations and
58 AM stations in the nation's leading markets, in addition to
Citadel Media, which is one of the three largest radio networks in
the United States.

Citadel Broadcasting filed for Chapter 11 with 50 affiliates on
Dec. 20, 2009, in Manhattan (Bankr. S.D.N.Y. Case No. 09-17422).
The Company listed assets of $1.4 billion and debt of $2.5 billion
in its Chapter 11 filing.  Kirkland & Ellis LLP is serving as
legal counsel and Lazard Freres & Co. LLC as financial advisor for
the restructuring.  Kurtzman Carson Consultants is serving as
claims and notice agent.

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


CITY OF HOPE: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: The City of Hope Community Church, Inc.
          dba Taste of Victory
          dba Victory Billing and Collection Management
          fka Victory Drive Deliverance Temple
        203 West Victory Drive
        Savannah, GA 31405-1717

Bankruptcy Case No.: 10-40473

Chapter 11 Petition Date: March 2, 2010

Court: United States Bankruptcy Court
       Southern District of Georgia (Savannah)

Debtor's Counsel: C. James McCallar, Jr., Esq.
                  McCallar Law Firm
                  P.O. Box 9026
                  Savannah, GA 31412
                  Tel: (912) 234-1215
                  Fax: (912) 236-7549
                  Email: mccallarlawfirm@aol.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/gasb10-40473.pdf

The petition was signed by Theodore Jackson, CEO & CFO of the
company.


COACHMEN INDUSTRIES: Bradley Louis Radoff Holds 7.9% Stake
----------------------------------------------------------
Bradley Louis Radoff disclosed that as of December 31, 2009, he
may be deemed to own 1,285,000 shares, which represents 7.9%, of
the shares of common stock of Coachmen Industries, Inc.

Coachmen Industries, Inc., doing business as All American Group,
is one of America's premier systems-built construction companies
operating under the ALL AMERICAN BUILDING SYSTEMS(R), ALL AMERICAN
HOMES(R) and MOD-U-KRAF(R) brands, as well as a manufacturer of
specialty vehicles through a joint venture with ARBOC Mobility,
LLC.  All American Group is a publicly held company with stock
quoted and traded on the over-the-counter markets under the ticker
COHM.PK.

All American Group includes All American Homes, LLC and Mod-U-
Kraf, LLC, which combined are one of the nation's largest builders
of systems-built residential homes.  Models range from single-
story ranches to spacious two-story colonials to beautifully
rustic log homes, under the Ameri-Log(R) brand.  A line of solar
homes that can generate low to zero energy bills is available
under the Solar Village(R) brand.  All American Building Systems,
LLC, builds large scale projects such as apartments, condominiums,
dormitories, hotels, military and student housing.  The Company's
construction facilities are located in Colorado, Indiana, Iowa,
North Carolina and Virginia.

                        *     *     *

In March 2009, Coachmen's independent public accounting firm,
Ernst & Young LLP, said that despite the Company's sale of the
assets related to its RV Segment, its recurring net losses and
lack of current liquidity raise substantial doubt about its
ability to continue as a going concern.

Coachmen said its ability to continue as a going concern is highly
dependent on its ability to obtain financing or other sources of
capital.


COACHMEN INDUSTRIES: Indian Creek Holds 9.3% of Common Stock
------------------------------------------------------------
Indian Creek Investors LP; Indian Creek Asset Management LLC; and
Gary Siegler disclosed that as of December 31, 2009, they may be
deemed to hold 1,506,000 shares or roughly 9.3% of the common
stock of Coachmen Industries, Inc.

Indian Creek Asset Management is the general partner of the Fund.
Mr. Siegler is the controlling person of Indian Creek Asset
Management.

                     About Coachmen Industries

Coachmen Industries, Inc., doing business as All American Group,
is one of America's premier systems-built construction companies
operating under the ALL AMERICAN BUILDING SYSTEMS(R), ALL AMERICAN
HOMES(R) and MOD-U-KRAF(R) brands, as well as a manufacturer of
specialty vehicles through a joint venture with ARBOC Mobility,
LLC.  All American Group is a publicly held company with stock
quoted and traded on the over-the-counter markets under the ticker
COHM.PK.

All American Group includes All American Homes, LLC and Mod-U-
Kraf, LLC, which combined are one of the nation's largest builders
of systems-built residential homes.  Models range from single-
story ranches to spacious two-story colonials to beautifully
rustic log homes, under the Ameri-Log(R) brand.  A line of solar
homes that can generate low to zero energy bills is available
under the Solar Village(R) brand.  All American Building Systems,
LLC, builds large scale projects such as apartments, condominiums,
dormitories, hotels, military and student housing.  The Company's
construction facilities are located in Colorado, Indiana, Iowa,
North Carolina and Virginia.

                        *     *     *

In March 2009, Coachmen's independent public accounting firm,
Ernst & Young LLP, said that despite the Company's sale of the
assets related to its RV Segment, its recurring net losses and
lack of current liquidity raise substantial doubt about its
ability to continue as a going concern.

Coachmen said its ability to continue as a going concern is highly
dependent on its ability to obtain financing or other sources of
capital.


COACHMEN INDUSTRIES: Unit Inks Contract with Private Developer
--------------------------------------------------------------
All American Building Systems, LLC, a subsidiary of Coachmen
Industries, Inc., on March 1, 2010, entered into a contract with a
private developer for the construction of two modular apartment
buildings in Dubuque, Iowa.  This contract is for the first phase
of a housing project that the Company anticipates will involve the
construction of 12 apartment buildings containing a total of 216
dwelling units, with a total project price of $13 million.  The
contract price for the design, construction, delivery, and finish
of the two apartment buildings currently under contract with the
Company is $2.4 million, and work on these buildings is to begin
immediately.  The Company anticipates that the bulk of the revenue
for the two apartment buildings will be recognized in the second
quarter of 2010.

The Company has revised its financial results for the fourth
quarter of 2009, ending December 31, 2009.  The revision was
related to the accounting treatment of a two-year $20.0 million
loan agreement as borrowers with H.I.G. All American, LLC, and
resulted in balance sheet classification changes, and a non-cash
charge to earnings.

In a shareholder update on February 16, 2010, Richard M. Lavers,
the Company's President and Chief Executive Officer, acknowledged
the Company is "not out of the woods yet."

"There are signs of the beginning of a housing market recovery,
and several predictions of a fairly robust recovery in 2010, but
we have not yet witnessed a recovery," Mr. Lavers said.

According to Mr. Lavers, the Company anticipates increased housing
revenues in 2010.  "However, we expect that the first quarter will
still be very difficult, and unusually heavy snows and extreme
cold weather throughout much of our market area will not help," he
said.

"On the specialty vehicle side, our ARBOC Mobility bus business
was increasingly profitable in the 2nd half of 2009, and we expect
it to remain so.  Our plans call for more than doubling our
shipments of the ARBOC Mobility bus in 2010.  At present, we have
backlog, orders under contract and bid awards to carry us through
mid-May.  In addition, throughout 2009 we developed other
specialty vehicle product categories which we expect to introduce
in 2010," he added.

                     About Coachmen Industries

Coachmen Industries, Inc., doing business as All American Group,
is one of America's premier systems-built construction companies
operating under the ALL AMERICAN BUILDING SYSTEMS(R), ALL AMERICAN
HOMES(R) and MOD-U-KRAF(R) brands, as well as a manufacturer of
specialty vehicles through a joint venture with ARBOC Mobility,
LLC.  All American Group is a publicly held company with stock
quoted and traded on the over-the-counter markets under the ticker
COHM.PK.

All American Group includes All American Homes, LLC and Mod-U-
Kraf, LLC, which combined are one of the nation's largest builders
of systems-built residential homes.  Models range from single-
story ranches to spacious two-story colonials to beautifully
rustic log homes, under the Ameri-Log(R) brand.  A line of solar
homes that can generate low to zero energy bills is available
under the Solar Village(R) brand.  All American Building Systems,
LLC, builds large scale projects such as apartments, condominiums,
dormitories, hotels, military and student housing.  The Company's
construction facilities are located in Colorado, Indiana, Iowa,
North Carolina and Virginia.

                        *     *     *

In March 2009, Coachmen's independent public accounting firm,
Ernst & Young LLP, said that despite the Company's sale of the
assets related to its RV Segment, its recurring net losses and
lack of current liquidity raise substantial doubt about its
ability to continue as a going concern.

Coachmen said its ability to continue as a going concern is highly
dependent on its ability to obtain financing or other sources of
capital.


COLONIAL BANCGROUP: Asks for Plan Exclusivity Until June 18
-----------------------------------------------------------
Bill Rochelle at Bloomberg News reports that Colonial BancGroup
Inc. is asking the Bankruptcy Court to extend until June 18 its
exclusive period to propose a Chapter 11 plan. The case is still
being held up by disputes over the validity of three secured
claims.

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.


COLONIAL BANCGROUP: Tax Refunds to Be Placed in Segregated Account
------------------------------------------------------------------
Bill Rochelle at Bloomberg News reports that Colonial BancGroup
Inc. reached an agreement with the Federal Deposit Insurance Corp.
to hold disputed tax refunds in a segregated account until the
court decides on who's entitled to the money.

According to the report, Colonial BancGroup expects that tax
refunds will be among the major assets for eventual distribution
to creditors.  The FDIC, however, contends that it should receive
the refunds as receiver for the failed bank.

The FDIC and Colonial BancGroup have been fighting over cash.
Colonial previously sought the Court's authority to use cash in
certain alleged deposit accounts totaling $38 million at Branch
Banking & Trust Co.  The FDIC, as receiver to Colonial Bank, the
banking unit of Colonial BancGroup, objected, citing that the
amount should be set off with an uncured capital maintenance
commitment owed by the Debtor of at least $1 billion that the
Debtor was required to assume and cure as a condition to obtaining
protection under chapter 11 of the Bankruptcy Code.

                   About The Colonial BancGroup

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.


CONTOS DEVELOPMENT: Voluntary Chapter 11 Case Summary
-----------------------------------------------------
Debtor: Contos Development, LLC
        200 North Westlake Blvd Ste 204
        Westlake Village, CA 91362

Bankruptcy Case No.: 10-12324

Chapter 11 Petition Date: March 2, 2010

Court: United States Bankruptcy Court
       Central District of California (San Fernando Valley)

Judge: Maureen Tighe

Debtor's Counsel: John R. Contos, Esq.
                  200 N Westlake Blvd, Ste 204
                  Westlake Village, CA 91362
                  Tel: (818) 707-8887
                  Fax: (818) 707-8884

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 John R. Contos, president/principal of
the Company.


CORUS BANKSHARES: Receives Event of Default Notices
---------------------------------------------------
Corus Bankshares, Inc., disclosed that in January 2010 it received
five letters sent by The Bank of New York Mellon, N.A. as trustee
for certain holders of trust-originated preferred securities,
declaring the principal amount of the Notes to be due and payable
immediately as a consequence of an alleged event of default which
occurred on September 11, 2009.

The Notes are:

     -- Floating Rate Junior Subordinated Notes due June 30, 2033,
        in the aggregate original amount of $20,619,000;

     -- Floating Rate Junior Subordinated Notes due December 15,
        2033, in the aggregate original amount of $30,928,000; and

     -- Floating Rate Junior Subordinated Deferrable Interest
        Debentures due September 20, 2034, in the aggregate
        original principal amount of $51,547,000.

The Company believes that the basis of the allegation is that an
event of default somehow occurred on September 11, 2009 as a
result of the appointment by the Office of the Comptroller of the
Currency of the Federal Deposit Insurance Corporation as the
receiver for the Company's subsidiary, Corus Bank, N.A.

In January 2010, Corus also received copies of letters sent by
Bank of America, N.A., in its capacity as Trustee under an
Indenture dated December 19, 2005, with respect to the Corus
Statutory Trust XI in the original amount of $25.0 million.

One letter was addressed to Alesco Preferred Funding IX and the
other letter was addressed to Alesco Preferred Funding X.  The
Letters contained a notice to the Securityholders that an Event of
Default has occurred relating to the Junior Subordinated Debt
Securities due March 15, 2036, issued by the Company.

The Company believes that the contentions contained in the Letters
were without merit.  The Company has asked BofA to immediately
rescind and withdraw the purported notice of a Specified Event of
Default under the Indenture with respect to the TOPrS.

                         About Corus Bank

Corus Bank, N.A., was the banking subsidiary of Chicago, Illinois-
based Corus Bankshares, Inc. (NASDAQ: CORS).  Corus Bank was
closed September 11, 2009, by regulators and the Federal Deposit
Insurance Corporation was named receiver.  To protect the
depositors, the FDIC entered into a purchase and assumption
agreement with MB Financial Bank, National Association, Chicago,
Illinois, to assume all of the deposits of Corus Bank.

As of June 30, 2009, Corus Bank had total assets of $7 billion and
total deposits of approximately $7 billion.  MB Financial Bank
paid the FDIC a premium of 0.2% to assume all of the deposits of
Corus Bank.  MB Financial Bank agreed to purchase $3 billion of
the assets, comprised mainly of cash and marketable securities.
The FDIC retained the remaining assets for later disposition.


COSINE COMMUNICATIONS: Incurs $597,000 Net Loss for 2009
--------------------------------------------------------
CoSine Communications Inc. said it incurred $597,000 net loss for
the year ended Dec. 31, 2009, compared with $15,000 net loss in
2008.  There were no revenues during those two years as CoSine
Communications has discontinued operations.

The Company's balance sheet showed $22,597,000 in total assets and
$232,000 in liabilities, all current, at Dec. 31, 2009.

Burr Pilger Mayer Inc. of San Jose, California, reported that
the CoSine Communications Inc.'s actions in September 2004 in
connection with its ongoing evaluation of strategic alternatives
to terminate most of its employees and discontinue production
activities in an effort to conserve cash, raise substantial doubt
about its ability to continue as a going concern.

A full-text copy of the company's annual report on Form 10-K is
available for free at http://ResearchArchives.com/t/s?5675

                  About Cosine Communications

CoSine Communications (Pink Sheets: COSN) was founded in 1998 as a
global telecommunications equipment supplier to empower service
providers to deliver a compelling portfolio of managed, network-
based IP and broadband services to consumers and business
customers.  CoSine ceased its customer service operations
effective December 31, 2006.  CoSine's strategic plan is to
redeploy its existing resources to identify and acquire new
business operations.  CoSine's redeployment strategy will involve
the acquisition of one or more operating businesses with existing
or prospective taxable earnings.  This strategy may allow CoSine
to realize future cash flow benefits from its net operating loss
carry-forwards.


COUDERT BROTHERS: Administrator Blasts Statek $85-Mil. Appeal
-------------------------------------------------------------
The plan administrator overseeing Coudert Brothers LLP's
dissolution has blasted Statek Corp.'s appeal of a bankruptcy
judge's rejection of an $85 million claim over allegations that
Coudert breached its fiduciary duty in representing two
individuals who looted the Company in the 1990s, according to
Law360.

Coudert Brothers LLP was an international law firm specializing in
complex cross-border transactions and dispute resolution.  The
firm had operations in Australia and China.  The Debtor filed for
Chapter 11 protection on Sept. 22, 2006 (Bankr. S.D.N.Y. Case
No. 06-12226).  John E. Jureller, Jr., Esq., and Tracy L.
Klestadt, Esq., at Klestadt & Winters, LLP, represent the Debtor
in its restructuring efforts.  The U.S. Trustee for Region 2
appointed five creditors to serve on an Official Committee of
Unsecured Creditors.  Brian F. Moore, Esq., and David J.
Adler, Esq., at McCarter & English, LLP, represent the Official
Committee of Unsecured Creditors.  In its schedules of assets and
debts, Coudert listed total assets of $29,968,033 and total debts
of $18,261,380.

The Bankruptcy Court in August 2008 signed an order confirming
Coudert Brothers LLP's chapter 11 plan.  The Plan contemplated on
paying 39% to unsecured creditors with $26 million claims.


CRESCENT RESOURCES: Wants Plan Exclusivity Until June 1
-------------------------------------------------------
Crescent Resources LCC is seeking a June 1 extension of its
exclusive period to solicit acceptances of its Chapter 11 plan.

According to Bill Rochelle at Bloomberg News, Crescent Resources
said the Official Committee of Unsecured Creditors is not
supporting the proposed reorganization plan.  Nonetheless,
Crescent said it is "optimistic" differences can be resolved
before the March 12 hearing for approval of the disclosure
statement explaining the Chapter 11 plan.

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.

                     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.


CRESCENT RESOURCES: Authorized to Hire RBS Securities
-----------------------------------------------------
Crescent Resources LLC obtained permission from the Bankruptcy
Court to hire RBS Securities Inc. as arranger for $150 million of
senior secured first-lien debt to finance an emergence from
Chapter 11 reorganization.

The Debtor filed the document containing RBS Securities' fees
under seal.

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. Crescent Resources is a joint venture between Duke Energy
and Morgan Stanley Real Estate Fund.  Established in 1969,
Crescent creates mixed-use developments, country club communities,
single-family neighborhoods, apartment and condominium
communities, Class A office space, business and industrial parks
and shopping centers.

Crescent Resources, LLC, and its debtor-affiliates filed for
Chapter 11 protection on June 10, 2009, with the U.S. Bankruptcy
Court for the Western District of Texas (Austin), lead case number
09-11507, before Judge Craig A. Gargotta.  Eric J. Taube, Esq., at
Hohmann, Taube & Summers, L.L.P., is serves as the Debtors'
bankruptcy counsel.


DANNY'S SAN TAN: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor:  Danny's San Tan, LLC
         15509 N. Scottsdale Rd.
         Scottsdale, AZ 85254

Bankruptcy Case No.: 10-05585

Chapter 11 Petition Date: March 3, 2010

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

Judge: George B. Nielsen Jr.

Debtor's Counsel: Bert L. Roos, Esq.
                  5045 N. 12th St, Suite B
                  Phoenix, AZ 85014
                  Tel: (602) 242-7869
                  Fax: (602) 242-5975
                  Email: blrpc85015@msn.com

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

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

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

Debtor-affiliates that filed Chapter 11 petitions on March 3,
2010:

  (1) Debtor: Danny's Tempe, LLC
      Bankruptcy Case No.: 10-05588
      Estimated Assets: $1,000,001 to $10,000,000
      Estimated Debts: $1,000,001 to $10,000,000

  (2) Danny's Crossroads, LLC
      Bankruptcy Case No.: 10-05580
      Estimated Assets: $1,000,001 to $10,000,000
      Estimated Debts: $1,000,001 to $10,000,000


DBSI COLONY WEST: Voluntary Chapter 11 Case Summary
---------------------------------------------------
Debtor: DBSI Colony West Development LLC
        Hwy. 121 & Blair Oaks
        The Colony, TX 75056

Bankruptcy Case No.: 10-10768

Chapter 11 Petition Date: March 3, 2010

Court: United States Bankruptcy Court
       District of Delaware (Delaware)

Debtor's Counsel: William R. Firth, III, Esq.
                   Gibbons P.C.
                   1000 N. West Street, Suite 1200
                   Wilmington, DE 19801
                   Tel: (302) 295-4875
                   Fax: (302) 295-4876
                   Email: wfirth@gibbonslaw.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 James R. Zazzali, trustee of the
Company.

Debtor-affiliate that filed separate Chapter 11 petition
November 6, 2008:

(1) One-Executive Tower LLC
     Case No: 08-12666

Debtor-affiliates that filed separate Chapter 11 petitions
November 10, 2008:

(1) DBSI 2001 A Funding Corporation
     Case No: 08-12694

(2) DBSI 2001 B Funding Corporation
     Case No: 08-12695

(3) DBSI 2001 C Funding Corporation
     Case No: 08-12696

(4) DBSI 2005 Secured Notes Corporation
     Case No: 08-12697

(5) DBSI 2006 Land Opportunity Fund LLC
     Case No: 08-12822

(6) DBSI 2006 Secured Notes Corporation
     Case No: 08-12698

(7) DBSI 2007 Land Improvement & Development Fund LLC
     Case No: 08-12824

(8) DBSI 2008 Land Option Fund LLC
     Case No: 08-12825

(9) DBSI 2008 Notes Corporation
     Case No: 08-12699

(10) DBSI Alma/121 Office Commons LLC
     Case No: 08-12826

(11) DBSI Asset Management LLC
     Case No: 08-12821

(12) DBSI Copperfield Timbercreek LeaseCo LLC
     Case No: 08-12816

(13) DBSI Cottonwood Plaza Development LLC
     Case No: 08-12827

(14) DBSI Draper Technology 21 LLC
     Case No: 08-12828

(15) DBSI Escala LLC
     Case No: 08-12829

(16) DBSI Guaranteed Capital Corporation
     Case No: 08-12737

(17) DBSI Inc.
     Case No: 08-12687

(18) DBSI Properties Inc.
     Case No: 08-12776

(19) DBSI Real Estate Funding Corporation
     Case No: 08-12777

(20) DBSI Realty Inc.
     Case No: 08-12778

(21) DBSI Securities Corporation
     Case No: 08-12782

(22) DBSI Shoppes at Trammel LLC
     Case No: 08-12823

(23) DBSI Short-Term Development Fund LLC
     Case No: 08-12830

(24) DBSI Telecom Office LLC
     Case No: 08-12831

(25) DCJ Inc.
     Case No: 08-12811

(26) FOR 1031 LLC
     Case No: 08-12813

(27) Spectrus Real Estate Inc.
     Case No: 08-12814

Debtor-affiliate that filed separate Chapter 11 petition December
12, 2008:

(1) DBSI/Western Technologies LLC
     Case No: 08-13307

Debtor-affiliates that filed separate Chapter 11 petitions January
6, 2009:

(1) Belton Town Center Acquisition LLC
     Case No: 09-10034

(2) DBSE Lexington LLC
     Case No: 09-10040

(3) DBSI 121/Alma Land L.P.
     Case No: 09-10045

(4) DBSI 121/Alma LLC
     Case No: 09-10046

(5) DBSI Broadway Plaza LeaseCo LLC
     Case No: 09-10035

(6) DBSI Development Services LLC
     Case No: 09-10037

(7) DBSI Flowood Plaza LLC
     Case No: 09-10038

(8) DBSI Land Development LLC
     Case No: 09-10039

(9) DBSI Meridian 184 LLC
     Case No: 09-10041

(10) DBSI One Hernando Center North LLC
     Case No: 09-10042

(11) South Cavanaugh LLC
     Case No: 09-10044

Debtor-affiliates that filed separate Chapter 11 petitions January
9, 2009:

(1) Florissant Market Place Acquisition LLC
     Case No: 09-10081

(2) FOR 1031 Broadway Plaza LLC
     Case No: 09-10080

Debtor-affiliates that filed separate Chapter 11 petitions January
26, 2009:

(1) DBSI Brookhollow One LLC
     Case No: 09-10263

(2) DBSI Lone Peak Parkway LLC
     Case No: 09-10264

(3) FOR 1031 Brookhollow One LLC
     Case No: 09-10262

Debtor-affiliate that filed separate Chapter 11 petition January
28, 2009:

(1) DBSI Lansdowne I LP
     Case No: 09-10276

Debtor-affiliate that filed separate Chapter 11 petition March 9,
2009:

(1) DBSI Surprise Farms LLC
     Case No: 09-10409

Debtor-affiliate that filed separate Chapter 11 petition March 20,
2009:

(1) Kastera Snake River 94 LLC
     Case No: 09-10987

Debtor-affiliate that filed separate Chapter 11 petition May 8,
2009:

(1) DBSI 2008 Development Fund LLC
     Case No: 09-11624

Debtor-affiliate that filed separate Chapter 11 petition June 18,
2009:

(1) DBSI E-470 East LLC
     Case No: 09-12117

Debtor-affiliate that filed separate Chapter 11 petition November
10, 2009:

(1) DBSI Discovery Real Estate Services LLC
     Case No: 09-12834


DELTA PETROLEUM: Aletheia Research Holds Less Than 5% Stake
-----------------------------------------------------------
Aletheia Research and Management, Inc., disclosed that as of
December 31, 2009, it held less than 5% of the number of
outstanding shares of any class of capital stock of Delta
Petroleum Corporation.

                       About Delta Petroleum

Delta Petroleum Corporation (NASDAQ Global Market: DPTR) is an oil
and gas exploration and development company based in Denver,
Colorado.  The Company's core areas of operations are the Rocky
Mountain and Gulf Coast Regions, which comprise the majority of
its proved reserves, production and long-term growth prospects.

As of September 30, 2009, Delta had total assets of $1,595,028,000
against total current liabilities of $273,364,000 and total long-
term liabilities of $588,216,000.  As of September 30, 2009, Delta
had accumulated deficit of $904,925,000 and total equity of
$733,448,000.

                           *     *     *

Delta Petroleum Corp. carries Standard & Poor's Ratings Services'
"CCC/Developing/--" Corporate Credit Rating.


DELTA PETROLEUM: First Trust Holds 6.6% of Common Stock
-------------------------------------------------------
First Trust Portfolios L.P.; First Trust Advisors L.P.; and The
Charger Corporation disclosed that as of December 31, 2009, they
may be deemed to hold 18,125,702 shares or roughly 6.6% of the
common stock of Delta Petroleum Corporation.

First Trust Portfolios L.P. is sponsor of several unit investment
trusts which hold shares of common stock of Delta.  No unit
investment trust sponsored by First Trust Portfolios L.P. holds 5%
or more of Delta's common stock.  First Trust Advisors L.P. is an
affiliate of First Trust Portfolios L.P. and acts as portfolio
supervisor of the unit investment trusts which hold shares of
Delta common stock.  The Charger Corporation is the general
partner of both First Trust Portfolios L.P. and First Trust
Advisors L.P.

Delta Petroleum Corporation (NASDAQ Global Market: DPTR) is an oil
and gas exploration and development company based in Denver,
Colorado.  The Company's core areas of operations are the Rocky
Mountain and Gulf Coast Regions, which comprise the majority of
its proved reserves, production and long-term growth prospects.

As of September 30, 2009, Delta had total assets of $1,595,028,000
against total current liabilities of $273,364,000 and total long-
term liabilities of $588,216,000.  As of September 30, 2009, Delta
had accumulated deficit of $904,925,000 and total equity of
$733,448,000.

                           *     *     *

Delta Petroleum Corp. carries Standard & Poor's Ratings Services'
"CCC/Developing/--" Corporate Credit Rating.


DELTA PETROLEUM: Steinberg Holds 1.58% of Common Stock
------------------------------------------------------
Steinberg Asset Management, LLC, and Michael A. Steinberg
disclosed that as of December 31, 2009, they may be deemed to hold
4,361,467 shares or roughly 1.58% of the common stock of Delta
Petroleum Corporation.

Mr. Steinberg may be deemed to have beneficial ownership of the
securities beneficially owned by Steinberg Asset Management and
Michael A. Steinberg & Company, Inc.  In addition, the securities
reported as beneficially owned by Mr. Steinberg include securities
held by Mr. Steinberg's wife and children as well as securities
held in trust for Mr. Steinberg's children of which Mr. Steinberg
is trustee.

Delta Petroleum Corporation (NASDAQ Global Market: DPTR) is an oil
and gas exploration and development company based in Denver,
Colorado.  The Company's core areas of operations are the Rocky
Mountain and Gulf Coast Regions, which comprise the majority of
its proved reserves, production and long-term growth prospects.

As of September 30, 2009, Delta had total assets of $1,595,028,000
against total current liabilities of $273,364,000 and total long-
term liabilities of $588,216,000.  As of September 30, 2009, Delta
had accumulated deficit of $904,925,000 and total equity of
$733,448,000.

                           *     *     *

Delta Petroleum Corp. carries Standard & Poor's Ratings Services'
"CCC/Developing/--" Corporate Credit Rating.


DENNY'S CORP: BlackRock Holds 6.12% of Common Stock
---------------------------------------------------
BlackRock Inc. disclosed that as of December 31, 2009, it may be
deemed to beneficially own 5,908,239 shares or roughly 6.12% of
the common stock of Denny's Corporation.

Based in Spartanburg, South Carolina, Denny's Corporation (NASDAQ:
DENN) -- http://www.dennys.com/-- is one of America's largest
full-service family restaurant chains, consisting of 1,289
franchised and licensed units and 256 company-owned units, with
operations in the United States, Canada, Costa Rica, Guam, Mexico,
New Zealand and Puerto Rico.

At December 30, 2009, the Company had total assets of
$312.627 million against $440.125 million in total liabilities,
resulting in $127.498 million shareholders' deficit.  The
December 30 balance sheet showed strained liquidity: The Company
had total current assets of $58.345 million against
$92.108 million in total current liabilities.


DENNY'S CORP: FMR, Fidelity Hold 12.653% of Common Stock
--------------------------------------------------------
FMR LLC and Edward C. Johnson 3d disclosed that they may be deemed
to beneficially own 12,223,180 shares or roughly 12.653% of the
common stock of Denny's Corporation.

Fidelity Management & Research Company, a wholly owned subsidiary
of FMR LLC, is the beneficial owner of 6,656,854 shares or 6.891%
of the Common Stock outstanding of Denny's as a result of acting
as investment adviser to various investment companies.

Edward C. Johnson 3d and FMR LLC, through its control of Fidelity,
and the funds each has sole power to dispose of the 6,656,854
shares owned by the Funds.

                        About Denny's Corp.

Based in Spartanburg, South Carolina, Denny's Corporation (NASDAQ:
DENN) -- http://www.dennys.com/-- is one of America's largest
full-service family restaurant chains, consisting of 1,289
franchised and licensed units and 256 company-owned units, with
operations in the United States, Canada, Costa Rica, Guam, Mexico,
New Zealand and Puerto Rico.

At December 30, 2009, the Company had total assets of
$312.627 million against $440.125 million in total liabilities,
resulting in $127.498 million shareholders' deficit.  The
December 30 balance sheet showed strained liquidity: The Company
had total current assets of $58.345 million against
$92.108 million in total current liabilities.


DENNY'S CORP: Keeley Asset Management Holds 5.9% of Common Stock
----------------------------------------------------------------
Keeley Asset Management Corp. and Keeley Small Cap Value Fund, a
series of Keeley Funds, Inc., disclosed that as of December 31,
2009, they may be deemed to beneficially own 5,710,000 shares or
roughly 5.9% of the common stock of Denny's Corporation.

Based in Spartanburg, South Carolina, Denny's Corporation (NASDAQ:
DENN) -- http://www.dennys.com/-- is one of America's largest
full-service family restaurant chains, consisting of 1,289
franchised and licensed units and 256 company-owned units, with
operations in the United States, Canada, Costa Rica, Guam, Mexico,
New Zealand and Puerto Rico.

At December 30, 2009, the Company had total assets of
$312.627 million against $440.125 million in total liabilities,
resulting in $127.498 million shareholders' deficit.  The
December 30 balance sheet showed strained liquidity: The Company
had total current assets of $58.345 million against
$92.108 million in total current liabilities.


DEWOSKIN PROPERTIES: Case Summary & 10 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: DeWoskin Properties Corporation
        4152 West Pine Blvd.
        Saint Louis, MO 63108

Bankruptcy Case No.: 10-41969

Chapter 11 Petition Date: March 3, 2010

Court: United States Bankruptcy Court
       Eastern District of Missouri (St. Louis)

Judge: Barry S. Schermer

Debtor's Counsel: A. Thomas DeWoskin, Esq.
                  Danna McKitrick, PC
                  7701 Forsyth, Suite 800
                  St. Louis, MO 63105
                  Tel: (314) 726-1000
                  Email: edmoecf@dmfirm.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
10 largest unsecured creditors, is available for free at:

            http://bankrupt.com/misc/moeb10-41969.pdf

The petition was signed by Thomas H. DeWoskin, president of the
Company.


DIAMOND BAY: Promises 100% Recovery for Unsecureds after Sale
-------------------------------------------------------------
Diamond Bay, LLC, filed with the U.S. Bankruptcy Court for the
Western District of North Carolina a Disclosure Statement
explaining its proposed Plan of Reorganization dated as of
February 22, 2010.

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

According to the Disclosure Statement, the Plan provides for the
transfer of a portion of the 17.35 acres of undeveloped real
property located in Biloxi, Harrison County, Mississippi
(property) to settle the secured claim asserted by Wachovia Bank,
N.A., with the remaining portion to be sold or auctioned within
60 days after the fifth anniversary of the effective date to
satisfy unsecured claims.  Alternatively, the Plan provides that
the Reorganized Debtor may make payments with respect to the
secured claim asserted by Wachovia, provided that the property
would be sold or auctioned within 60 days after the fifth
anniversary of the effective date.

                       Treatment of Claims

Class 1 - Priority Claims -- will be paid in full.  The estimated
recovery is 100%.

Class 2 - Allowed Secured Ad Valorem Tax Claim ($37,894) -- will
be paid plus 1% monthly interest, in monthly installments.  The
estimated recovery for Class 2 Claims is 100%.

Class 3 - Wachovia Secured Claim ($15,594,564) -- the estimated
recovery for the Class 3 Allowed Secured Lender Claim is 100%
pursuant to 2 alternative treatments:

   (i) the Allowed Secured Lender Claim will be satisfied in full
       by conveyance to Wachovia of the Southern Parcel of the
       Property, provided that the Southern Parcel is valued by
       the Bankruptcy Court for not less than $16,100,000; and

  (ii) treat the Allowed Secured Lender Claim as a fully secured
       obligation of the Debtor that the lien on the property will
       be retained until the Allowed Secured Lender Claim has been
       paid in full.

Class 4 - Allowed General Unsecured Claims ($29,177,303) --
holders of any Allowed General Unsecured Claims will receive pro
rata distributions of any net proceeds, up to the full amount of
their allowed general unsecured claims upon the sale or auction of
any portion of the property.  The estimated recovery is 100% if
the property is held for five years and then sold.

Class 5 - Allowed General Unsecured Contingent Claims ($3,555,000)
-- will share in a pro rata distribution of up to 5% of their
Allowed Claims from any net proceeds remaining after all allowed
general unsecured claims have been paid in full.  The estimated
recovery is unknown.

Class 6 - Member-MF Biloxi, LLC Equity Interest -- no distribution
of any kind will be made with respect to the Equity
Interest until and unless all Claims in Classes 1 through 5 have
been satisfied in accordance with the Plan. The estimated recovery
is unknown.

A full-text copy of the Disclosure Statement is available for free
at http://bankrupt.com/misc/DiamondBay_DS.pdf

                      About Diamond Bay, LLC

Charlotte, North Carolina-based Diamond Bay, LLC, filed for
Chapter 11 bankruptcy protection on November 19, 2009 (Bankr. W.D.
N.C. Case No. 09-33198).  Anna Cotten Wright, Esq., who has an
office in Charlotte, North Carolina, assists the Company in its
restructuring efforts.  According to the schedules, the Company
has assets of $37,109,239, and total debts of $47,406,203.


DIRECTV HOLDINGS: Moody's Upgrades Senior Ratings From 'Ba2'
------------------------------------------------------------
wholly-owned U.S. subsidiary of publicly owned DIRECTV, senior
unsecured ratings to Baa3 from Ba2.  The upgrade is driven by
DTV's new CEO's (Michael White) and its board of directors'
unqualified commitment to sustaining DTV Holdings' investment-
grade credit profile.  Given this posture and the current very low
leverage profile, Moody's believe the risk of a self imposed
reversal from this commitment, which has been a primary Moody's
concern, particularly given the influence of the company's largest
shareholder, Dr. John Malone (about 2.5% economic and 24% voting),
is low.  Moody's view is supported by its belief that Mr. White's
history of working in a financial capacity for PepsiCo, Inc. (Aa3
senior unsecured) for almost 20 years, including CFO of PepsiCo,
Inc., has shaped an investment-grade mindset that will help guide
the company's future financial policies.  The company's Baa2
senior secured debt ratings are unaffected by this rating action.
The rating outlook is stable.

Upgrades:

Issuer: DIRECTV Holdings LLC

  -- Senior Unsecured Regular Bond/Debenture, Upgraded to Baa3
     from Ba2

Withdrawals:

Issuer: DIRECTV Holdings LLC

  -- Corporate Family Rating, Withdrawn, previously rated Ba1

  -- Probability of Default Rating, Withdrawn, previously rated
     Ba1

  -- Speculative Grade Liquidity Rating, Withdrawn, previously
     rated SGL-1

DTV Holdings' current debt-to-EBITDA leverage (GAAP basis) is
about 1.5x (as of 12/31/09) which is low relative to the company's
2.5x leverage target (about 2.6x with Moody's standard
adjustments).  In Moody's view, the company's low leverage and
strong free cash flow provide significant financial flexibility
for DTV's management to continue investing in its business, make
moderate-sized acquisitions, provide meaningful return of capital
to shareholders, and still maintain an investment-grade profile.

Moody's projects that DTV Holdings' revenue and cash flow will
continue to steadily grow in the low-to-mid single digits over the
intermediate-term.  As a result, Moody's estimates that DTV
Holdings' combined incremental debt capacity and free cash flow
generation over the next three years will be at least $12 billion.
Given the company's belief that its shares are undervalued, Dr.
Malone's historical distaste for taxable dividend programs as
compared to share repurchases and the elimination of the equity
collars related to the Liberty Entertainment merger, Moody's
believes that DTV Holdings will utilize much of its financial
capacity to repurchase DTV stock.  To that end, in February DTV
announced a $3.5 billion share repurchase program that it intends
to complete by the end of 2010.  Given the significant headroom in
financial capacity, which should be ample to please even the
higher financial risk tolerant Dr.  Malone, the probability that
the company would embark on either a leveraged recapitalization of
the company or a debt-financed acquisition over the intermediate-
term which would exceed its sizable financial capacity is low in
Moody's view.

DTV Holdings' Baa3 senior unsecured rating reflects the consistent
and sizeable cash flows it generates from its position as one of
the leading video providers in the U.S., its strong credit metrics
and strong liquidity profile.  However, the rating continues to be
somewhat constrained when compared to its wireline competitors by
Moody's expectation that competition from stand alone triple-play
(video, high speed data and voice) providers will gradually
pressure subscriber churn, retention costs and margins over the
longer-term.

The one notch higher Baa2 rating on DTV Holding's secured bank
debt reflects the benefit of a security interest in substantially
all of DTV Holdings' domestic assets and guarantees by all of its
domestic operating subsidiaries, effectively making this debt
senior in priority as compared to the Baa3 rated senior unsecured
notes.  Moody's anticipates that over time, the secured debt will
decline as a percentage of total debt and that the senior
unsecured debt class will represent the preponderance of the
company's debt and the benchmark rating for the company.

The stable rating outlook is driven by Moody's expectation that
DTV Holdings' debt-to-EBITDA leverage (incorporating Moody's
standard adjustments) will be sustained below 2.75x.  The rating
would come under pressure if leverage were sustained above that
level, or if Moody's expects that retention costs will spiral
upward, or subscriber numbers to trend downward, resulting in
material margin and EBITDA contraction.

Moody's last rating action was on September 14, 2009 when it
assigned a Ba2 rating to DTV Holdings' new debt issuance.

DTV Holdings' 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 DTV Holdings' core industry and DTV Holdings' ratings
are believed to be comparable to those of other issuers of similar
credit risk.

DIRECTV Holdings LLC is a wholly-owned, U.S. operating company of
DIRECTV and is the largest direct-to-home digital television
service provider in the United States with 18.6 million
subscribers as of 12/31/09.  Annual revenues of DTV and DTV
Holdings approximate $21.6 billion and $18.7 billion,
respectively.  DTV's additional revenues are largely generated by
its Latin American operations.


DOYLESTOWN PARTNERS: Case Summary & 2 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Doylestown Partners, Inc.
        14404 North Road
        Loxahatchee, FL 33470

Bankruptcy Case No.: 10-10833

Chapter 11 Petition Date: March 2, 2010

Court: United States Bankruptcy Court
       District of Rhode Island (Providence)

Judge: Arthur N. Votolato

Debtor's Counsel: Arthur C. Neiwirth, Esq.
                  One E. Broward Blvd., #1400
                  Ft. Lauderdale, FL 33301
                  Tel: (954) 523-7008

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/rib10-10833.pdf

The petition was signed by William J. Reilly, secretary of the
Company.


EDITHA DIWA MASACAYAN: Voluntary Chapter 11 Case Summary
--------------------------------------------------------
Debtor: Editha Diwa Masacayan
          aka Edith Masacayan
          dba Fil-D Craft International, Inc.
        2015 Cherrystone Dr.
        San Jose, CA 95128

Bankruptcy Case No.: 10-52112

Chapter 11 Petition Date: March 3, 2010

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

Debtor's Counsel: Lewis Phon, Esq.
                   Law Offices of Lewis Phon
                   4040 Heaton Court
                   Antioch, CA 94509
                   Tel: (415) 574-5029
                   Email: phonlaw@sbcglobal.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 Ms. Masacayan.


ERICKSON RETIREMENT: Court Abates Motions Pending Confirmation
--------------------------------------------------------------
Judge Jernigan reveals that certain parties sought an abatement
sine die of certain motions and related objections in Erickson
Retirement Communities' Chapter 11 cases at a status hearing held
last February 5, 2010.

Thus, for reasons stated on the record at the February 5 status
conference, Judge Jernigan grants an abatement sine die of these
motions and related objections pending confirmation of the
Debtors' Second Amended Plan Joint of Reorganization:

  (1) The Official Committee of Unsecured Creditors' objection
      to the Debtors' Motion for Additional Protections to
      Initial Entrance Deposits;

  (2) The Creditors Committee's Motion to Determine Appropriate
      Allocation of Value under the Debtors' First Amended Joint
      Plan of Reorganization;

  (3) PNC Bank, National Association's Motion to Disband
      Creditors Committee in the Chapter 11 cases of Novi
      Campus, LLC, Houston Campus, L.P., Kansas Campus, LLC,
      Concord Campus, LP and Ashburn Campus, LLC;

  (4) Capmark Finance, Inc.'s Motion to Disband Creditors
      Committee in Littleton Campus, LLC's Chapter 11 case;

  (5) Bank of America, N.A.'s Motion to Disband Creditors
      Committee in the Chapter 11 cases of Dallas Campus, LP and
      Dallas Campus GP, LLC; and

  (6) Wells Fargo Bank National Association's Motion to Disband
      Creditors Committee in the Chapter 11 cases of Warminster
      Campus, LP and Warminster Campus GP, LLC.

Judge Jernigan orders the Creditors Committee to abate the
discovery sought in its Motion to Authorize Examination of
National Senior Campuses, Inc. and the Not-For-Profit entities
pursuant to Rule 2004 of the Federal Rules of Bankruptcy
Procedure.

                        The Chapter 11 Plan

Erickson Retirement Communities and its debtor affiliates
presented to the United States Bankruptcy Court for the Northern
District of Texas their Second Amended Joint Plan of
Reorganization and accompanying Disclosure Statement on
February 16, 2010.

The Amended Plan incorporates, among others, settlements between
the Debtors and parties-in-interests in the Debtors' Chapter 11
cases.

The Plan estimate $135,799,000 in total value that will be
available for distribution.  Based on the Liquidation Analysis,
the Debtors estimate a 12.9% recovery for ERC and Erickson
Construction LLC under an orderly liquidation and only an 8.2%
recovery for the same Debtor entities under a forced liquidation.
A Liquidation Analysis on the other Debtor Landowners also show
that the Landowners are expected to recover more from an orderly
liquidation than from a forced liquidation.

Full-text copies of the Second Amended Plan and Disclosure
Statement dated February 16, 2010, are available for free at:

     http://bankrupt.com/misc/ERC_Feb16AmPlan.pdf
     http://bankrupt.com/misc/ERC_Feb16AmDS.pdf

Blacklined versions of the Second Amended Plan and Disclosure
Statement are available for free at:

      http://bankrupt.com/misc/ERC_Feb16AmPlan_blacklined.pdf
      http://bankrupt.com/misc/ERC_Feb16DS_blacklined.pdf

                      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 to Hear DIP Reimbursements Today
-----------------------------------------------------------
The Bankruptcy Court previously entered on December 17, 2009, a
final order authorizing Erickson Retirement Communities LLC  to
borrow up to $20 million in postpetition financing from ERC
Funding Co. LLC.

Judge Jernigan has set another hearing on the DIP Financing
Motion for March 5, 2010, solely with respect to three issues:

  (1) The issue on whether the provision concerning
      reimbursement of expenses for National Senior Campuses,
      Inc. Not-For-Profit entities should be included in the
      Final DIP Order.  The provision essentially calls for (i)
      the Debtors to pay $30,000 to the NSC-NFPs; (ii) the
      submission by the NSC-NFPs of a reconciliation of the
      actual fees and expenses they incurred; and (iii) a
      reservation of the NSC-NFPs' rights to seek payment to the
      extent Redwood-ERC Senior Living Holdings LLC ceases or
      fails to reimburse or pay the NCS-NFPs' fees and expenses.

  (2) The issue on whether the $300,000 monthly reimbursement of
      expenses sought by the NSC-NFPs should be increased to
      $625,000; and

  (3) The issue on setoff of the community loan and master lease
      obligations raised by PNC Bank, National Association.

                      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: Strategic Entities Question HCP Deal
---------------------------------------------------------
Erickson Retirement Communities LLC and its units are seeking the
Court's authority to enter into a settlement agreement with HCP,
Inc.; HCP ER2, LP; HCP ER3, LP; and HCP ER6, LP.

The HCP Entities previously sought and obtained permission from
the Court to conduct an examination of the Debtors under Rule
2004 of the Federal Rules of Bankruptcy Procedure.  The HCP
Entities also filed millions in claims that arise from the
sale/leaseback transactions with certain of the Debtors.  On the
hand, certain of the Debtors initiated adversary proceedings
against HCP ER2, HCP ER3 and HCP ER6, seeking declaratory
judgments that certain transactions were financing arrangements
and not lease agreements.

The Debtors and the HCP Entities have since engaged in
negotiations and ultimately, agreed to a settlement that provides,
among other things, that the HCP Entities will receive an
allocation of $8.2 million in cash from the Debtors.

Strategic Ashby Ponds Lender LLC and Strategic Concord
Landholder, LP, however, point out that the settlement among the
Debtors, HCP, Inc.; HCP ER2, LP; HCP ER3, LP; and HCP ER6, LP,
obligates the Debtors to pay HCP $8.2 million, as solely related
to Debtor Warminster Campus, LP's obligations owed to the HCP
Entities.  The Strategic Entities complain that the HCP Settlement
does not mention the source of the $8.2 million payment.

Moreover, the Strategic Entities are concerned that under the HCP
Settlement, the Debtors may surreptitiously be seeking to
determine an allocation of a portion of the proceeds of the sale
of all of their assets to Redwood-ERC Senior Living Holdings,
LLC, on a piecemeal basis.

G. Martin Green, Esq., at Baker Botts L.L.P., in Dallas, Texas,
points out that the HCP Settlement provides that the HCP Entities
"will receive an allocation of $8.2 million in cash from the
Debtors which will be allocated to repayment of the Warminster
Campus obligations."  The proper allocation of the sales proceeds
is a central issue in the Debtors' Chapter 11 cases and will need
to be addressed comprehensively as part of the plan confirmation
process, Mr. Green asserts.  The Strategic Entities thus object
to the HCP Settlement to the extent the Debtors seek approval of
any allocation to the HCP Entities based on their business
judgment.

Against this backdrop, the Strategic Entities ask Judge Jernigan
to either (i) deny approval of the HCP Settlement, or (ii)
postpone consideration of the HCP Settlement until the Court has
ruled on the allocation issue in connection with the confirmation
of the Debtors' Second Amended Joint Plan of Reorganization.

                      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)


EUROGAS INC: Posts $394,754 Net Loss in Q3 2009
-----------------------------------------------

Eurogas, Inc., filed its quarterly report on Form 10-Q, showing a
net loss of $394,754 for the three months ended September 30,
2009, compared with a net loss of $1,568,524 for the same period
of 2008.

The Company's balance sheet as of September 30, 2009, showed
$18.8 million in assets, $12.3 million of debts, and $6.4 million
of stockholders' capital.

EuroGas has accumulated a deficit of $152.3 million through
September 30, 2009, and a working capital deficit of $12.3 million
as of September 30, 2009.  "These conditions raise substantial
doubt regarding the Company's ability to continue as a going
concern."

A full-text copy of the quarterly report for the three months
ended September 30, 2009, is available at no charge at

               http://researcharchives.com/t/s?56f4

The Company reported a net loss of $28,577 for the second quarter
ended June 30, 2009, compared to net income of $192,390 in the
same period ended June 30, 2008.

A full-text copy of the quarterly report for the three months
ended June 30, 2009, is available for free at;

               http://researcharchives.com/t/s?56f3

                        About the Company

Headquartered in New York, Eurogas, Inc. (EUGS: OTC)
-- http://www.eurogasinc.com/-- engages in the acquisition of
rights to explore for and exploit natural gas, coal bed methane
gas, crude oil, and minerals.  The Company holds interests in
Gemerska talc deposit located near Roznava in eastern Slovakia.
EuroGas, through a joint venture, engages in the natural gas
exploration and development under a license covering 128,000 acres
located in the east Slovakian Basin.  In addition, it owns a 7.5%
interest in the Beaver River natural gas project in British
Columbia, Canada.


EXPRESS LLC: Upsized Offering Cues Moody's to Retain 'B2' Ratings
-----------------------------------------------------------------
Moody's Investors Service said that Express LLC's ratings and
positive outlook remain unchanged by the company's announcement
that it has increased its proposed note offering to $250 million
from $200 million.

Express' ratings are:

  -- Corporate family rating: B2

  -- Probability-of-default rating: B2

  -- $125 million senior secured term loan: B1 (LGD 3, 32%)

  -- $250 million senior unsecured notes, due 2018: B3 (LGD 4,
     63%)

The ratings outlook is positive

The last rating action on Express was on February 22, 2010, when
Moody's affirmed the company's B2 corporate family rating, changed
the outlook to positive from stable, and assigned a B3 rating to
the proposed note offering.

Express LLC, headquartered in Columbus, Ohio, is a specialty
apparel retailer.  The company operates 571 stores in the United
States.  Revenues for the fiscal year ended January 31, 2010, were
approximately $1.7 billion.


F & F LLC: HWI Cash Collateral Hearing Slated for March 25
----------------------------------------------------------
The Hon. Thomas B. Donovan of the U.S. Bankruptcy Court for the
Central District of California will consider at a hearing on
March 25, 2010, at 10:00 a.m., F & F, LLC's request for permission
to access cash collateral of U.S. Hung Wui Investments, Inc.  The
hearing will be held at Courtroom 303, 3420 Twelfth Street,
Riverside, California.  Objections, if any, are due 14 days prior
to the hearing date.

HWI holds a lien on the Debtor's property, including all rents,
issues, profits, and other proceeds derived from the Debtor's
operation of the property.

The Debtor and HWI executed a stipulation, authorizing the
Debtor's limited use of HWI's cash to provide for the preservation
of the property and its continued operation as a going concern.

The terms of the stipulation include:

   -- the Debtor is entitled, until further order of the Court, to
      operate the property and to collect all income derived from
      the property;

   -- the Debtor is entitled to pay from the income derived from
      the property, all expenses directly related to the
      operation, preservation, and maintenance of the property;

   -- the Debtor may exceed the total budgeted amount of expenses
      by no more than 5%;

   -- the Debtor must maintain a maximum monthly reserve of cash
      of $5,000 in its debtor-in-possession bank account; and

   -- the Debtor will pay HWI, on a monthly basis, all of its
      income derived from the property and its operation.

The stipulation also provides that HWI will retain a perfected
continuing lien in all income generated by the property.

Rancho Cucamonga-based F & F LLC has filed for Chapter 11
bankruptcy protection on November 20, 2009 (Bankr. C.D. Calif.
Case No. 09-38204).  Todd C. Ringstad, Esq., who has an office in
Irvine, California, 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 in its petition.


FLYING J: Gets Nod for March 19 Auction for Bakersfield Refinery
----------------------------------------------------------------
Flying J Inc. received permission for a sale process where Alon
USA Energy Inc. will start a March 19 auction for its Bakersfield
refinery.  An auction will be held if competing offers are sent by
March 19.  A hearing to approve the sale will take place March 23.

The parties have signed a contract where Alon USA will buy the
refinery for $40 million cash plus a formula for the value of
inventory, absent higher and better offers for the assets.

The Bakersfield refinery is located in California's Central Valley
and has the capacity to refine up to 70,000 barrels per day of
crude oil.  The refinery is supplied by crude oil produced in the
San Joaquin Valley with its products marketed in California, and
is a major provider of motor fuels in central California.

                          About Alon USA

Alon USA Energy, Inc., headquartered in Dallas, Texas, is an
independent refiner and marketer of petroleum products, operating
primarily in the South Central, Southwestern and Western regions
of the United States.  The Company owns four crude oil refineries
in Texas, California, Louisiana and Oregon, with an aggregate
crude oil throughput capacity of approximately 250,000 barrels per
day.  Alon is a leading producer of asphalt, which it markets
through its asphalt terminals predominately in the Western United
States.  Alon is the largest 7-Eleven licensee in the United
States and operates more than 300 convenience stores in Texas and
New Mexico.  Alon markets motor fuel products under the FINA brand
at these locations and at approximately 640 distributor-serviced
locations.

                          About Flying J

Based in Ogden, Utah, Flying J Inc. -- http://www.flyingj.com/--
is among the 20 largest private companies in America, with 2007
sales exceeding $16 billion.  The fully integrated oil company
employs approximately 14,700 people in the U.S. and Canada through
its interstate operations, transportation, refining and supply,
exploration and production, as well as its financial services and
communications, divisions.

Flying J and six of its affiliates filed for bankruptcy on
December 22, 2008 (Bankr. D. Del. Lead Case No. 08-13384).  Flying
J sought Chapter 11 protections after a precipitous drop in oil
prices and disruption in the credit markets brought to bear
significant short-term pressure on the company's liquidity
position.

Attorneys at Kirkland & Ellis LLP represent the Debtors as
counsel.  Young, Conaway, Stargatt & Taylor LLP is the Debtors'
Delaware Counsel.  Blackstone Advisory Services L.P. is the
Debtors' investment banker and financial advisor.  Epiq Bankruptcy
Solutions LLC is the Debtors' notice, claims and balloting agent.
In its formal schedules submitted to the Bankruptcy Court, Flying
J listed assets of $1,433,724,226 and debts of $640,958,656.

An official committee of unsecured creditors has been appointed in
the case.  Pachulski Stang Ziehl & Jones LLP has been tapped as
counsel for the creditors' panel.

Magellan Midstream Partners LP was authorized by the Bankruptcy
Court in July to buy Flying J's Longhorn pipeline that runs 700
miles from Houston to El Paso, Texas.


FLYING J: Leasing Restaurants to Denny's
----------------------------------------
Bill Rochelle at Bloomberg News reports that Flying J Inc. is
leasing its restaurants to Denny's Inc. under an agreement
estimated to improve cash flow by $15 million a year.

According to the report, Flying J has 250 locations, including 164
with restaurants.  The lease initially would cover only locations
owned by Flying J.  The agreement, the Bloomberg report relates,
provides for Denny's to pay $250,000 for the equipment at each
location while spending an average of $200,000 to $300,000 in
upgrades on each store.  In addition, Denny's would pay rent of 7%
to 8% of total sales.

The Court will consider approval of the agreement at a hearing on
March 23.

                        About Flying J Inc.

Based in Ogden, Utah, Flying J Inc. -- http://www.flyingj.com/--
is among the 20 largest private companies in America, with 2007
sales exceeding $16 billion.  The fully integrated oil company
employs approximately 14,700 people in the U.S. and Canada through
its interstate operations, transportation, refining and supply,
exploration and production, as well as its financial services and
communications, divisions.

Flying J and six of its affiliates filed for bankruptcy on
December 22, 2008 (Bankr. D. Del. Lead Case No. 08-13384).  Flying
J sought Chapter 11 protections after a precipitous drop in oil
prices and disruption in the credit markets brought to bear
significant short-term pressure on the company's liquidity
position.

Attorneys at Kirkland & Ellis LLP represent the Debtors as
counsel.  Young, Conaway, Stargatt & Taylor LLP is the Debtors'
Delaware Counsel.  Blackstone Advisory Services L.P. is the
Debtors' investment banker and financial advisor.  Epiq Bankruptcy
Solutions LLC is the Debtors' notice, claims and balloting agent.
In its formal schedules submitted to the Bankruptcy Court, Flying
J listed assets of $1,433,724,226 and debts of $640,958,656.

An official committee of unsecured creditors has been appointed in
the case.  Pachulski Stang Ziehl & Jones LLP has been tapped as
counsel for the creditors' panel.


FOURTH QUARTER 118: Wants Until May 3 to Propose Chapter 11 Plan
----------------------------------------------------------------
Fourth Quarter Properties 118, LLC, and its debtor-affiliates ask
the U.S. Bankruptcy Court for the Northern District of Georgia to
extend their exclusive periods to propose and solicit acceptances
of a Chapter 11 Plan until May 3, 2010, and July 2, 2010,
respectively.

The Debtors relate that they need additional time to negotiate
with Wachovia Bank, N.A. and the Official Committee of Unsecured
Creditors regarding the treatment of creditor claims.

Newnan, Georgia-based Fourth Quarter Properties 118, LLC, dba The
Rim, operates a real estate business.  The Company filed for
Chapter 11 bankruptcy protection on November 2, 2009 (Bankr. N.D.
Ga. Case No. 09-13960).  James P. Smith, Esq., at Stone & Baxter,
LLP, assists the Company in its restructuring efforts.  The
Company listed $50,000,001 to $100,000,000 in assets and
$100,000,001 to $500,000,000 in liabilities.  According to the
schedules, the Company has total assets of $34,245 and total
liabilities of $118,761,086.


FOURTH QUARTER XLVII: Wants Until May 3 to File Chapter 11 Plan
---------------------------------------------------------------
Fourth Quarter Properties XLVII, LLC, asks the U.S. Bankruptcy
Court for the Northern District of Georgia to extend its exclusive
periods to propose and solicit acceptances for its Chapter 11 Plan
until May 3, 2010, and July 2, 2010, respectively.

The Debtor relate that it needs additional time to complete the
negotiation with Wachovia Bank, N.A. regarding the treatment of
creditor claims, and finalize its funding source and mechanism.

Fourth Quarter Properties XLVII, LLC, which operates a real estate
business, filed for Chapter 11 bankruptcy protection on
November 2, 2009 (Bankr. N.D. Ga. Case No 09-13959).  The Company
listed $10,000,001 to $50,000,000 in assets and $50,000,001 to
$100,000,000 in liabilities.


FREDERICK SIKORA: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Joint Debtors: Frederick J. Sikora
                 dba Frederick J.Sikora, Esq.
                 fdba Frederick J. Sikora, P.A.
               Vera Sikora
               7 Hedge Row Crossing
               Lebanon, NJ 08833

Bankruptcy Case No.: 10-16083

Chapter 11 Petition Date: March 3, 2010

Court: United States Bankruptcy Court
       District of New Jersey (Trenton)

Debtors' Counsel: Richard S. Yusem, Esq.
                  Law Firm of Richard Yusem, P.A.
                  31 E. High Street
                  PO Box 696
                  Somerville, NJ 08876
                  Tel: (908) 526-4900
                  Fax: (908) 526-0247
                  Email: rsyusem@optonline.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 $1,240,268
and total debts of $2,574,551.

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/njb10-16083.pdf

The petition was signed by the Joint Debtors.


GOOD SUCCESS CHRISTIAN: Case Summary & 12 Largest Unsec. Creditors
------------------------------------------------------------------
Debtor: Good Success Christian Church & Ministries, Inc.
        4401 Sheriff Road, NE
        Washington, DC 20019

Bankruptcy Case No.: 10-00193

Chapter 11 Petition Date: March 2, 2010

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

Judge: Bankruptcy Judge S. Martin Teel, Jr.

Debtor's Counsel: William C. Johnson, Jr., Esq.
                  Law Offices of William C. Johnson, Jr.
                  1229 15th St. NW
                  Washington, DC 20005
                  Tel: (202) 525-2958
                  Fax: (202) 525-2961
                  Email: wjohnson@dcmdconsumerlaw.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 $1,158,500,
and total debts of $749,649.

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/dcb10-00193.pdf

The petition was signed by Dr. William H. Bennett II, founding
pastor & president of the Company.


GENERAL MOTORS: Executive Changes Announced
-------------------------------------------
General Motors announced a restructured North American
organization with a number of key leadership changes.

"It's become extremely clear to me since taking this role that
there is a better way to structure this organization," said Mark
Reuss, GM North America president.  "The premise of the structure
is simple - a clearer marketing focus to sell more vehicles, and
freeing our sales and service experts to focus on customers and
dealers. In order to be successful in North America, we need the
right mix of product, people and structure. We've worked with a
small group of executives to align this model and appoint the best
candidates for each job."

As the single point for the marketing organization, Susan Docherty
is appointed vice president, U.S. marketing, reporting to Reuss.
Senior executives reporting to Docherty, responsible for the
marketing of their respective brands include:

   * Jim Campbell, U.S. marketing vice president, Chevrolet,
   * Don Butler, U.S. marketing vice president, Cadillac, and
   * John Schwegman, U.S. marketing vice president, Buick-GMC.

Changes were also made in GM's sales organization: "Reinforcing
the company's intense focus on the customer, sales leaders for the
brands also reporting directly to Reuss include:

   * Alan Batey, vice president, sales and service, Chevrolet,
   * Brian Sweeney remains with the Buick-GMC as U.S. sales and
     service vice president; and
   * Kurt McNeil, U.S. sales and service vice president, Cadillac.

In addition, Bryan Nesbitt is leaving Cadillac and returning to
his home organization as executive director, advanced concept
group, reporting to Ed Welburn, vice president, global design.

Steve Carlisle is appointed vice president, U.S. sales operations,
responsible for dealer network, retail sales support and fleet &
commercial.  Senior executives reporting to Carlisle, responsible
for their respective functions include Jim Bunnell, general
director, network support, Brian Small, general manager, fleet &
commercial and a general manager, retail sales support to be named
at a later date.

"This structure has been developed with as few layers as possible
between me, the dealer and the customer," said Reuss.  "By
removing layers and giving leaders increased accountability, we
allow them to move faster and focus on what needs to be done."

These executives continue in their current positions:

   * Grace Lieblein, president and managing director, GM de
     Mexico; and

   * Diana Tremblay, vice president, manufacturing and labor
     relations and Chuck Stevens, chief financial officer for
     North America.

In addition, Mary Sipes returns to portfolio planning as executive
director, North American product planning, a key interface to the
global engineering and product development organizations.
Ms. Sipes was previously executive director, corporate planning.

                        About General Motors

General Motors Company -- http://www.gm.com/-- is one of the
world's largest automakers, tracing its roots back to 1908.  With
its global headquarters in Detroit, GM employs 204,000 people in
every major region of the world and does business in some 140
countries.  GM and its strategic partners produce cars and trucks
in 34 countries, and sell and service these vehicles through these
brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, Opel,
Vauxhall and Wuling.  GM's largest national market is the United
States, followed by China, Brazil, the United Kingdom, Canada,
Russia and Germany.  GM's OnStar subsidiary is the industry leader
in vehicle safety, security and information services.

GM acquired its operations from General Motors Company, n/k/a
Motors Liquidation Company, on July 10, 2009, pursuant to a sale
under Section 363 of the Bankruptcy Code.  Motors Liquidation or
Old GM is the subject of a pending Chapter 11 reorganization case
before the U.S. Bankruptcy Court for the Southern District of New
York.

At September 30, 2009, GM had US$107.45 billion in total assets
against US$135.60 billion in total liabilities.

                    About Motors Liquidation

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

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

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


GENERAL GROWTH: Posts $1.3 Billion Net Loss for 2009
----------------------------------------------------
General Growth Properties, Inc., filed its annual report on Form
10-K, showing a net loss of $1.30 billion on $3.13 billion of
revenue for 2009, compared with net income of $18.7 million on
$3.36 billion of revenue for 2008.

The Company's balance sheet as of Dec. 31, 2009, showed
$28.14 billion in assets, $27.09 billion in total liabilities,
$206.8 million of redeemable noncontrolling interests, and
$847.3 million in total equity.

Deloitte & Touche LLP, in Chicago, Illinois, expressed substantial
doubt about the Company's ability to continue as a going concern.
"The Company's potential inability to negotiate and obtain
confirmation of a mutually agreeable plan of reorganization and to
address their remaining future debt maturities raise substantial
doubt about the Company's ability to continue as a going concern."

A full-text copy of the annual report is available for free at:

               http://researcharchives.com/t/s?5679

                 About General Growth Properties

Based in Chicago, Illinois, General Growth Properties, Inc. --
http://www.ggp.com/-- currently has ownership interest in, or
management responsibility for, over 200 regional shopping malls in
43 states, as well as ownership in master planned community
developments and commercial office buildings.  The Company's
portfolio totals approximately 200 million square feet of retail
space and includes over 24,000 retail stores nationwide.  The
Company's common stock is currently traded in the over-the-counter
securities market operated by Pink OTC Markets Inc. using the
symbol GGWPQ.

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

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


GENERAL GROWTH: Has Restructures $10.6-Bil. in Debts of 205 Units
-----------------------------------------------------------------
In its annual report on Form 10-K, General Growth Properties Inc.
said that it is pursuing a deliberate two-stage strategy to
accomplish its reorganization, the first step of which is to
restructure its property-level secured mortgage debt.

As a result, during December 2009, January and February 2010, 231
Debtors (the "Track 1 Debtors") owning 119 properties with
$12.33 billion of secured mortgage debt filed consensual plans of
reorganization (the "Track 1 Plans") with the Bankruptcy Court.
As of December 31, 2009, 113 Debtors owning 50 properties with
approximately $4.65 billion of secured mortgage debt restructured
that debt and emerged from bankruptcy (the "Track 1A Debtors").
Through March 1, 2010, an additional 92 Debtors owning 57
properties with approximately $5.98 billion of secured mortgage
debt restructured that debt and emerged from bankruptcy.
Effectiveness of the plans of reorganization and/or restructuring
of the $1.70 billion of secured mortgage debt of the remaining
Track 1 Debtors (together with the Track 1 Debtors that have
already emerged from bankruptcy in 2010, the "Track 1B Debtors")
is expected to occur in the first quarter of 2010.

GGP is continuing to pursue consensual restructurings for 31
Debtors (the "Remaining Secured Debtors") with secured loans
aggregating $2.50 billion.  The Chapter 11 Cases for the Remaining
Secured Debtors and the other remaining Debtors (generally GGP,
GGPLP and other holding company subsidiaries, the "TopCo Debtors"
and together with the Remaining Secured Debtors, the "2010 Track
Debtors") will continue until their respective plans of
reorganization are filed, approved by the respective creditors,
confirmed by the Bankruptcy Court and are effective.

"Although we have successfully restructured $10.65 billion of
secured mortgage debt, no agreements have been reached with
respect to $2.50 billion of secured debt and $6.51 billion of
unsecured debt and we do not yet have a filed or confirmed plan of
reorganization for the 2010 Track Debtors.  In addition, our share
of the secured mortgage debt of our Unconsolidated Real Estate
Affiliates maturing in 2010 (excluding the Woodlands MPC and
Brazil loans) is $513.8 million (of which $78.3 million has been
extended to 2014) and we have not yet restructured or refinanced
this secured debt."

A full-text copy of the annual report is available for free at:

               http://researcharchives.com/t/s?5679

                 About General Growth Properties

Based in Chicago, Illinois, General Growth Properties, Inc. --
http://www.ggp.com/-- currently has ownership interest in, or
management responsibility for, over 200 regional shopping malls in
43 states, as well as ownership in master planned community
developments and commercial office buildings.  The Company's
portfolio totals approximately 200 million square feet of retail
space and includes over 24,000 retail stores nationwide.  The
Company's common stock is currently traded in the over-the-counter
securities market operated by Pink OTC Markets Inc. using 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)


GLOMETRO INC: Files Schedules of Assets & Liabilities
-----------------------------------------------------
Glometro, Inc., has filed with the U.S. Bankruptcy Court for the
Northern District of California its schedules of assets and
liabilities, disclosing:

  Name of Schedule                   Assets       Liabilities
  ----------------                   ------       -----------
A. Real Property                 $8,940,000
B. Personal Property                $22,000
C. Property Claimed as
   Exempt
D. Creditors Holding
   Secured Claims                                  $10,725,123
E. Creditors Holding
   Unsecured Priority
   Claims                                                   $0
F. Creditors Holding
   Unsecured Non-priority
   Claims                                           $1,465,261
                                  -----------     ------------
  TOTAL                            $8,962,000      $12,190,384

San Francisco, California-based Glometro, Inc., filed for Chapter
11 bankruptcy protection on February 5, 2010 (Bankr. N.D. Calif.
Case No. 10-30380).  Robert T. Kawamoto, Esq., at Law Offices of
Robert T. Kawamoto, assists the Company in its restructuring
effort.  The Company listed $1,000,001 to $10,000,000 in assets
and $10,000,001 to $50,000,000 in liabilities.


GLOMETRO INC: Section 341(a) Meeting Scheduled for March 16
-----------------------------------------------------------
The U.S. Trustee for Region 17 will convene a meeting of creditors
in Glometro, Inc.'s Chapter 11 case on March 16, 2010, at 10:30
a.m.  The meeting will be held at San Francisco U.S. Trustee Off,
Office of the U.S. Trustee, 235 Pine Street, Suite 850, San
Francisco, CA 94104.

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 Francisco, California-based Glometro, Inc., filed for Chapter
11 bankruptcy protection on February 5, 2010 (Bankr. N.D. Calif.
Case No. 10-30380).  Robert T. Kawamoto, Esq., at Law Offices of
Robert T. Kawamoto, assists the Company in its restructuring
effort.  The Company listed $1,000,001 to $10,000,000 in assets
and $10,000,001 to $50,000,000 in liabilities.


GLOMETRO INC: Taps Robert T. Kawamoto as Bankruptcy Counsel
-----------------------------------------------------------
Glometro, Inc., has sought authorization from the U.S. Bankruptcy
Court for the Northern District of California to employ the Law
Offices of Robert T. Kawamoto as bankruptcy counsel.

Robert T. Kawamoto will:

     a) advise the Debtor with respect to its powers and duties as
        debtor-in-possession in the continued operation of its
        affairs and management of its property;

     b) prepare necessary applications, answers, orders
        and other legal papers required in the prosecution of the
        Debtor's bankruptcy case; and

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

Robert T. Kawamoto will be paid $250 per hour for its services.

Robert T. Kawamoto, Esq., assures the Court that his law firm is
"disinterested" as that term is defined in Section 101(14) of the
Bankruptcy Code.

San Francisco, California-based Glometro, Inc., filed for Chapter
11 bankruptcy protection on February 5, 2010 (Bankr. N.D. Calif.
Case No. 10-30380).  Robert T. Kawamoto, Esq., at Law Offices of
Robert T. Kawamoto, assists the Company in its restructuring
effort.  The Company listed $1,000,001 to $10,000,000 in assets
and $10,000,001 to $50,000,000 in liabilities.


GRACEWAY PHARMACEUTICALS: Moody's Reviews Caa1 Corp. Family Rating
------------------------------------------------------------------
Moody's Investors Service placed the ratings of Graceway
Pharmaceuticals, LLC, including the Caa1 Corporate Family Rating
and Caa1 Probability of Default Rating under review for possible
downgrade.

This rating action follows the recent launch of a generic version
of Aldara (imiquimod), expected to significantly erode Graceway's
Aldara revenues at least over the very near term.  Graceway is
seeking a temporary restraining order, which could succeed in
halting the launch of the generic product.  In addition, Graceway
is currently seeking FDA approval for Zyclara, a new lower-dose
version of Aldara.

The rating review will consider: (1) the impact on Graceway's
profitability and cash flows from the generic launch, which will
vary based on the outcome of the restraining order hearing; (2)
the potential opportunities if Zyclara is approved in the near
term; (3) the sufficiency of Graceway's liquidity position and the
potential for covenant breaches or insufficient cash flow to fund
fixed charges; and (4) valuation and recovery rates under various
scenarios for the different classes of debt in Graceway's capital
structure.

Ratings placed under review for possible downgrade:

  -- Caa1 Corporate Family Rating

  -- Caa1 Probability of Default Rating

  -- B2 (LGD2, 25%) first lien senior secured term loan of
     $600 million due 2012

  -- B2 (LGD2, 25%) first lien senior secured revolving credit
     facility of $30 million due 2012

  -- Caa2 (LGD5, 76%) second lien senior secured credit facility
     of $330 million due 2013

Moody's last rating action on Graceway took place on November 23,
2009, when Moody's lowered Graceway's ratings (Corporate Family
Rating to Caa1 from B3) with a negative rating outlook.

Headquartered in Bristol, Tennessee, Graceway Holdings, LLC and
Graceway Pharmaceuticals, LLC, is a specialty pharmaceutical
company focused on the dermatology, respiratory, and women's
health markets.


GREAT LAKES TRUCKLAND: Case Summary & 3 Largest Unsec. Creditors
----------------------------------------------------------------
Debtor: Great Lakes Truckland, Inc.
        20985 West Road
        Woodhaven, MI 48183

Bankruptcy Case No.: 10-20208

Chapter 11 Petition Date: March 2, 2010

Court: United States Bankruptcy Court
       Southern District of West Virginia (Charleston)

Judge: Ronald G. Pearson

Debtor's Counsel: Joseph W. Caldwell, Esq.
                  Caldwell & Riffee
                  P.O. Box 4427
                  Charleston, WV 25364-4427
                  Tel: (304) 925-2100
                  Fax: (304) 925-2193
                  Email: joecaldwell@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 the Debtor's petition, including a list of its
3 largest unsecured creditors, is available for free at:

                http://bankrupt.com/misc/wvsb10-20208.pdf

The petition was signed by Eric Jain, president of the Company.


GUITARS AND CADILLACS: Case Summary & 20 Largest Unsec. Creditors
-----------------------------------------------------------------
Debtor: Guitars and Cadillacs of D'Iberville, LLC
        4031 Popps Ferry Rd.
        D'Iberville, MS 39540

Bankruptcy Case No.: 10-50466

Chapter 11 Petition Date: March 2, 2010

Court: United States Bankruptcy Court
       Southern District of Mississippi
       (Gulfport Divisional Office)

Judge: Neil P. Olack

Debtor's Counsel: David L. Lord, Esq.
                  David L. Lord and Associates, P.A.
                  2300 24th Avenue
                  Gulfport, MS 39501
                  Tel: (228) 868-5667
                  Fax: (228) 868-2554
                  Email: lordlawfirm@bellsouth.net

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/mssb10-50466.pdf

The petition was signed by David Buchanan, member of the company.


HCA INC: To Offer $1 Billion Senior Secured First Lien Notes
------------------------------------------------------------
HCA Inc. said it intends to offer $1.0 billion aggregate principal
amount of senior secured first lien notes due 2020.  In accordance
with the terms of its senior secured credit facilities, HCA will
use the net proceeds from the offering to repay term loans under
its cash flow credit facility.

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.


HOLLY RAJ INC: Case Summary & 4 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Holly Raj, Inc.
        8 Beach Road
        Lake George, NY 12845

Bankruptcy Case No.: 10-10741

Chapter 11 Petition Date: March 2, 2010

Court: United States Bankruptcy Court
       Northern District of New York (Albany)

Judge: Chief Judge Robert E. Littlefield Jr.

Debtor's Counsel: Richard L. Weisz, Esq.
                  Hodgson Russ LLP
                  677 Broadway
                  Albany, NY 12207
                  Tel: (518) 465-2333
                  Email: Rweisz@hodgsonruss.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 $4,747,070,
and total debts of $4,733,711.

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/nynb10-10741.pdf

The petition was signed by Rajiv Sharma, president of the Company.


HUDSON'S FURNITURE: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor:  Hudson's Furniture Showroom, Inc.
         3290 West State Road 46
         Sanford, FL 32771-8445

Bankruptcy Case No.: 10-03322

Chapter 11 Petition Date: March 3, 2010

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

Debtor's Counsel: Justin M. Luna, Esq.
                  Latham, Shuker, Eden & Beaudine, LLP
                  390 N. Orange Ave., Suite 600
                  Orlando, FL 32801
                  Tel: (407) 481-5800
                  Fax: (407) 481-5801
                  Email: bankruptcynotice@lseblaw.com

                  Mariane L. Dorris, Esq.
                  Latham Shuker Eden & Beaudine LLP
                  390 North Orange Avenue, Suite 600
                  Orlando, FL 32801
                  Tel: (407) 481-5800
                  Fax : (407) 481-5801
                  Email: bankruptcynotice@lseblaw.com

                  Victoria I. Minks, Esq.
                  Latham Shuker Eden & Beaudine LLP
                  390 N Orange Ave, Suite 600
                  Orlando, FL 32801
                  Email: bankruptcynotice@lseblaw.com

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

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

The petition was signed by Cecil F. Hudson III, the company's
president.

Debtor-affiliates that filed separate Chapter 11 petitions
October 13, 2009:

(1)   A&J Rentals, LLC
      Case No: 09-15485

(2)   Hud Twenty-Five Ocoee, LLC
      Case No: 09-15482

(3)   Hud Twenty-Three Tampa, LLC
      Case No: 09-15481

(4)   Hud-Five, LLC
      Case No: 09-15479

Debtor's List of 20 Largest Unsecured Creditors:

  Entity                   Nature of Claim        Claim Amount
  ------                   ---------------        ------------
Action Industries          Trade Debt             $144,890

American Drew                                     $30,511
                                                  ($0 secured)

Best Chair, Inc.           Trade Debt             $83,498

Bradington Young           Trade Debt             $23,335

Broyhill Furniture                                $4,364,307
PO Box 536753
Atlanta, GA 30353

Broyhill Furniture Ind.    Trade Debt             $361,217
PO Box 536753
Atlanta, GA 30353

Centro Watt Operating                             $95,932
Partnership Two

CP Venture Two, LLC        Trade Debt             $125,933

Developers Diversified                            $341,293
Dept 108119-40416-
00020896
PO Box 534414
Atlanta, GA 30353

FFVA Mutual Insurance Co.  Trade Debt             $44,124

Glenn Byrne                Furniture Deposit      $28,040

Hooker Corp                Trade Debt             $36,288

Idearc Media Corp.         Trade Debt             $31,603

Jennifer Madill            Furniture Deposit      $21,229

Leaf Funding, Inc.                                $36,748

Lexington Brands           Trade Debt             $32,853

Michel Wachter             Furniture Deposit      $28,113

Ryder                      Trade Debt             $159,621

Summit Funding Group                              $25,108

Tropitone                  Trade Debt             $25,006


INTELLIPHARMACEUTICALS: Posts $1.8 Mln Loss in Period Ended Nov 30
------------------------------------------------------------------
Intellipharmaceutics International Inc. reported a net loss of
$1.8 million, or $0.19 per common share, for the eleven month
period ended November 30, 2009, compared with a loss of
$3.8 million, or $0.40 per common share for the twelve month
period ended December 31, 2008.

At November 30, 2009, Intellipharmaceutics' cash totaled
$8.0 million, compared with $902,213 at December 31, 2008.  Net
cash used in operating activities for the eleven month period
ended November 30, 2009, of $4.9 million was offset by proceeds
received on acquisition of Vasogen Inc. of $11.3 million and from
advances from Dr. Isa Odidi and Dr. Amina Odidi, principal
stockholders, directors and executive officers.

Intellipharmaceutics anticipates its cash burn, excluding any
potential proceeds from partnering initiatives, will be
approximately $6.4 million during fiscal 2010.

The Company's balance sheet as of Dec. 31, 2009, showed
$11.1 million, $6.4 million of debts, and stockholders' equity of
$4.6 million.

Deloitte & Touche LLP, in Toronto, Ontario, expressed substantial
doubt about the Company's ability to continue as a going concern.
The independent auditors noted that of the Company's recurring
losses from operations and inability to generate sufficient cash
flows to meet its obligations and sustain its operations.

A full-text copy of the Company's financial statements for the
eleven month period ended November 30, 2009, is available at no
charge at http://researcharchives.com/t/s?56f2

                         About the Company

Toronto, Ontario-based Intellipharmaceuticals International Inc.
(Nasdaq: IPCI) (TSX: I) http://www.intellipharmaceutics.com/--
specializes in the research, development and manufacture of
controlled and targeted once-a-day novel oral solid drugs.  The
Company's patented Hypermatrix(TM) technology is a unique and
validated multidimensional controlled-release drug delivery
platform that can be applied to the efficient development of a
wide range of existing and new pharmaceuticals.  Based on this
technology, Intellipharmaceutics has a pipeline of products in
various stages of development in therapeutic areas that include
neurology, cardiovascular, GIT, pain and infection.  Several of
these products are partnered.


JAPAN AIRLINES: Starts Tokyo-Dubai Codeshare Flights with Emirates
------------------------------------------------------------------
Japan Airlines (JAL) and Dubai-based Emirates Airline (EK) reached
an agreement to expand their code share partnership between Japan
and Dubai. JAL will start placing its "JL" flight indicator on EK-
operated flights between Tokyo (Narita) and Dubai from March 28,
2010, when EK will launch the new direct service to Narita, flying
five times a week.

Both airlines have been offering code share services on the
Osaka (Kansai) = Dubai route since 2002.  By further strengthening
their partnership through the new connection between Tokyo and
Dubai, both airlines can build a more extensive network to
increase customer convenience and better facilitate business and
tourist travel to the Middle East from Japan.

In addition to the code share flights, JAL and EK also linked
their frequent flyer programs (FFP) in October 2002, enabling
members of the JAL Mileage Bank (JMB) and Emirates' Skywards FFP
to earn miles on each other's flights.

Reservations and ticket purchase for the new code share service
start promptly.

                        About Japan Airlines

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: Seeks Approval From MLIT for Fuel Surcharge
-----------------------------------------------------------
The JAL Group has requested for approval from the Japanese
Ministry of Land, Infrastructure, Transport and Tourism (MLIT) to
increase the current level of fuel surcharge on all international
passenger tickets issued from April 1, 2010.

The price of Singapore kerosene-type jet fuel during the 3 month
period from November 2009 to January 2010 averaged US$84.66 per
barrel.  With reference to the fuel surcharge benchmark list
for the fiscal year of, this corresponds to Zone C where fuel
surcharges range from 500 yen on a Japan - Korea ticket to 13,500
yen on a Japan- Brazil ticket per person per sector flown, on
tickets purchased in Japan.  This level of surcharge will be
applied to all international passenger tickets issued between
April 1, and June 30, 2010.

The company continues to conduct countermeasures as introducing
more fuel-efficient, small and medium-sized aircraft to its fleet,
to minimize the full impact of high fuel prices.

Despite these measures, the company is reluctantly obliged to ask
its international passengers to bear part of the burden caused by
the increase in the price of fuel.

    Fuel Surcharge for the period: April 1 - June 30, 2010*

                   Current Level: Zone B   Revised Level: Zone C
                    (As of Jan 01, 2010)    (As of Apr 01, 2010)

Based on average
price of fuel:          US$78.04/barrel         US$84.66/barrel

                               For sales               For sales
Route (Per person   For sales   outside     For sales   outside
per sector flown)   in Japan    Japan       in Japan    Japan
----------------   ---------------------   ---------------------
Japan-Korea           JPY300     US$3.00        JPY500   US$5.00

Japan-China,
Hong Kong, Taiwan     JPY1,500  US$15.00      JPY2,500  US$26.00

Japan-Guam,
Philippines,
Vietnam               JPY2,000  US$20.00      JPY3,000  US$32.00

Japan-Malaysia,
Singapore,
Thailand              JPY3,000  US$30.00      JPY4,500  US$48.00

Japan-Hawaii,
India, Indonesia      JPY4,000  US$39.00      JPY6,000  US$64.00

Japan-Canada,
Europe, Middle
East, Oceania, USA
(excl. Hawaii)        JPY7,000  US$69.00     JPY10,500 US$111.00

Japan - Brazil       JPY10,000  US$98.00     JPY13,500 US$143.00

New York - Sao Paulo  JPY3,000  US$30.00      JPY3,500  US$37.00

Amsterdam - Madrid      JPY500   US$5.00      JPY1,000  US$11.00

Singapore - Australia   JPY100   US$1.00      JPY3,000  US$32.00

Within Europe, Oceania
(excl. those specified
above/incl. some
domestic sectors)       JPY300   US$3.00        JPY500   US$5.00

Within Asia, Hawaii,
North America, (excl.
those specified above/
incl. some domestic
sectors)                JPY100   US$1.00        JPY200   US$2.00


*For full details about JAL's fuel surcharge policy, please refer
to http://www.jal.co.jp/en/other/info2006_0714.html

-- Applicable to all international passenger tickets issued on or
    after April 1, to June 30, 2010.

-- The surcharge applies to flights operated by Japan Airlines
    and its subsidiaries, including JAL code-share flights
    operated by other airlines.

-- The planned level of fuel surcharge is subject to government
    approval.

       Fuel Surcharge Benchmark List for Fiscal Year 2010
               (for the year ending Mar 31, 2011)

    For the convenience of customers and travel agents, the
following chart provides details of the fuel price benchmarks
(US$/bbl) JAL uses, to determine the amount of fuel surcharge
(JPY) placed on tickets per person per sector flown.

Benchmark List                A         B         C        D
                            From      From      From     From
Fuel Price (US$/bbl) Below  US$60-    US$70-    US$80-   US$90-
Singapore Kerosene   US$60  under     under     under    under
Hedge                       US$70     US$80     US$90    US$100
-------------------- -----  ------    ------    ------   ------
Japan - Korea               JPY200    JPY300    JPY500  JPY1,000

Japan   - China,
Hong Kong, Taiwan           JPY500  JPY1,500  JPY2,500  JPY3,500

Japan - Guam,
Philippines,
Vietnam                   JPY1,000  JPY2,000  JPY3,000  JPY4,000

Japan - Malaysia,    No
Singapore,           fuel
Thailand             sur- JPY1,500  JPY3,000  JPY4,500  JPY6,500
                    charge
Japan - Hawaii,
India, Indonesia          JPY2,000  JPY4,000  JPY6,500  JPY8,500

Japan - Canada,
Europe, Middle East,
Oceania, USA
(excl. Hawaii)            JPY3,500  JPY7,000 JPY10,500  JPY14,000

Japan - Brazil            JPY6,500 JPY10,000 JPY13,500  JPY17,000

Benchmark List                  E          F       G
                             From       From     From
Fuel Price (US$/bbl) Below    US$100-    US$110-  US$120-
Singapore Kerosene   US$60    under      under    under
Hedge                         US$110     US$120   US$130
-------------------- ------   -------    ------   -------
Japan - Korea                JPY1,500  JPY2,000  JPY2,500

Japan   - China,
Hong Kong, Taiwan            JPY4,500  JPY5,500  JPY7,000

Japan - Guam,
Philippines,
Vietnam                      JPY5,000  JPY6,500  JPY8,000

Japan - Malaysia,    No
Singapore,           fuel
Thailand             sur-    JPY8,500 JPY10,500 JPY13,000
                    charge
Japan - Hawaii,
India, Indonesia            JPY11,000 JPY13,500 JPY16,000

Japan - Canada,
Europe, Middle East,
Oceania, USA
(excl. Hawaii)              JPY17,500 JPY21,000 JPY25,000

Japan - Brazil              JPY21,000 JPY25,000 JPY29,000

                        About Japan Airlines

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: Stock Delisted, Ends Final Trading at JPY1
----------------------------------------------------------
Shares of Japan Airlines Corporation was officially delisted from
the Tokyo Stock Exchange (TSE) on February 19, 2010.

Shares of the cash-strapped carrier finished the company's last
trading day on the TSE on February at 1 yen, unchanged since
February 2, ending the carrier's almost half a century of presence
on the bourse, Xinhuanet reported.

According to Reuters, the shares were untraded on February 19
before 27.6 million changed hands for 1 yen apiece at the 3 p.m.
close.  In November 2007, the stock reached 277 yen and the
airline's market value was as high as $8.2 billion, Reuters adds.

"This will undoubtedly be a symbolic case in which shareholders
are made to take responsibility," Xinhuanet quoted Tsuyoshi
Segawa, an equity strategist at Mizuho Securities Co, as saying.
"However, I do think that such an end could have been avoided had
JAL taken a different path at an earlier point."

According to Xinhuanet, JAL was first listed on the TSE's Second
Section in 1961 and then moved to the First Section in 1970.
After integrating operations with Japan Air System under a new
holding company in October 2002, the carrier's shares hit a high
of 366 yen in October 2003.

The stock fell to the record low of 1 yen for the first time on
January 22, three days after JAL filed for bankruptcy protection,
Xinhuanet adds.

                        About Japan Airlines

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)


JAZZ PHARMACEUTICALS: Posts $6.8 Million Net Loss for 2009
----------------------------------------------------------
Jazz Pharmaceuticals, Inc., disclosed Wednesday financial results
for the fourth quarter and full year ended December 31, 2009.  For
the year ended December 31, 2009, the net loss was $6.8 million,
or $0.23 per share, compared to a net loss of $184.3 million, or
$7.19 per share, for the year ended December 31, 2008.
Contributing to the net loss in 2008 was a fourth quarter non-cash
impairment charge of $29.8 million relating to the company's LUVOX
CR intangible asset.

Adjusted net loss for the year ended December 31, 2009, was
$1.5 million, or $0.05 per share.

Total revenues for the year ended December 31, 2009, were
$128.4 million, compared to $67.5 million for the year ended
December 31, 2008.  Contract revenues for 2009 of $11.1 million
included the recognition of a $10.0 million milestone payment from
UCB Pharma Limited received in 2008.

XYREM(R) (sodium oxybate) oral solution net sales increased 100%
to $31.6 million for the quarter ended December 31, 2009, compared
to net sales of $15.8 million for the quarter ended December 31,
2008.  XYREM net sales for the year ended December 31, 2009,
increased 80% to $96.8 million, compared with $53.8 million for
the year ended December 31, 2008.  Net sales of once-daily LUVOX
CR(R) (fluvoxamine maleate) Extended-Release Capsules, launched in
April 2008, increased 86% to $5.7 million for the quarter ended
December 31, 2009, compared to $3.1 million for the quarter ended
December 31, 2008.  LUVOX CR net sales for the year ended
December 31, 2009 increased 220% to $18.3 million, compared with
$5.7 million for the year ended December 31, 2008.

"2009 was a tremendous year for Jazz Pharmaceuticals in continuing
our mission to help improve patients' lives.  Our sales team
delivered outstanding performance in 2009, educating physicians on
the appropriate use of our products, which resulted in records for
prescriptions of both XYREM and LUVOX CR," said Bob Myers,
President of Jazz Pharmaceuticals.

Jazz Pharmaceuticals' net income for the quarter ended
December 31, 2009, was $5.7 million, or $0.17 per diluted share,
compared to a net loss of $56.9 million, or $2.04 per share, for
the quarter ended December 31, 2008.

Jazz Pharmaceuticals' adjusted net income for the quarter ended
December 31, 2009, was $10.8 million, or $0.33 per diluted share.

Total revenues for the quarter ended December 31, 2009, were
$38.3 million, compared to $19.6 million for the quarter ended
December 31, 2008.

Jazz Pharmaceuticals' cash, cash equivalents and marketable
securities as of December 31, 2009, totaled $15.6 million,
excluding restricted cash of $3.0 million.

The Company has incurred significant net losses since its
inception in 2003.

At the beginning of 2009, the Company was in default under its
Senior Note Agreement, as a result of its failure to timely make a
$4.5 million interest payment to the holders of the Senior Notes
due in December 2008.  The Company also did not make timely
payments for two subsequent $5.1 million quarterly interest
payments due on March 31, 2009, and June 30, 2009, and, as a
result of the default, the Company was unable to borrow under its
revolving bank line of credit.

Beyond the next twelve months, the Company does not expect its
cash resources to be sufficient to cover all of its operating
requirements as well as launch expenses for the Company's JZP-6
product candidate if approved by the FDA, the cost of its Luvox CR
Phase IV clinical trial commitments, any significant additional
costs related to the development of its product candidates and
repayment of its Senior Notes at maturity.

The Company's balance sheet as of Dec. 31, 2009, showed
$107.4 million in assets and $180.2 million of debts, for a
stockholders' deficit of $72.8 million.

The Company's balance sheet also showed strained liquidity with
$37.0 million in total current assets available to pay
$59.2 million in total current liabilities.

A full-text copy of the press release is available for free at:

               http://researcharchives.com/t/s?56f6

A full-text copy of the annual report is available for free at:

               http://researcharchives.com/t/s?56f5

                    About Jazz Pharmaceuticals

Palo Alto, Calif.-based Jazz Pharmaceuticals, Inc. (Nasdaq: JAZZ)
-- http://www.JazzPharmaceuticals.com/-- is a specialty
pharmaceutical company focused on identifying, developing and
commercializing innovative products to meet unmet medical needs in
neurology and psychiatry.


JOBSITE INC: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Jobsite, Inc.
        841 21 1/2 Rd.
        Grand Junction, CO 81505

Bankruptcy Case No.: 10-14213

Chapter 11 Petition Date: March 2, 2010

Court: United States Bankruptcy Court
       District of Colorado (Denver)

Judge:  A. Bruce Campbell

Debtor's Counsel: Joli A. Lofstedt, Esq.
                  950 Spruce St., Ste. 1C
                  Louisville, CO 80027
                  Tel: (303) 661-9292
                  Fax: (303) 661-9555
                  Email: joli@crlpc.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 $1,071,560,
and total debts of $1,217,033.

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

            http://bankrupt.com/misc/cob10-14213.pdf

The petition was signed by Bond Jacobs, president/owner of the
company.


LAS VEGAS MONORAIL: Files Schedules of Assets and Liabilities
-------------------------------------------------------------
Las Vegas Monorail Company filed with the U.S. Bankruptcy Court
for the District of Nevada its schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                $8,286,807
  B. Personal Property          $387,672,957
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                              $450,001,771
  E. Creditors Holding
     Unsecured Priority
     Claims                                          $109,306
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                      $198,545,827
                                 -----------      -----------
        TOTAL                   $395,959,764     $648,656,904

Las Vegas, Nevada-based Las Vegas Monorail Company, organized by
the State of Nevada in 2000 as a nonprofit corporation, owns and
manages the Las Vegas Monorail.  The Monorail is a seven-stop,
elevated train system that travels along a 3.9-mile route near the
Las Vegas Strip.  LVMC has contracted with Bombardier Transit
Corporation to operate the Monorail.  Though it benefits from its
tax-exempt status due to being a nonprofit entity, LVMC claims to
be the first privately-owned public transportation system in the
nation to be funded solely by fares and advertising.  LVMC says it
receives no governmental financial support or subsidies.

The Company filed for Chapter 11 bankruptcy protection on
January 13, 2010 (Bankr. D. Nev. Case No. 10-10464).  Gerald M.
Gordon, Esq., at Gordon Silver, assists the Company in its
restructuring effort.  Alvarez & Marsal North America, LLC, is the
Debtor's financial advisor.  Stradling Yocca Carlson & Rauth is
the Debtor's special bond counsel.  Jones Vargas is the Debtor's
special corporate counsel.  The Company listed $10,000,001 to
$50,000,000 in assets and $500,000,001 to $1,000,000,000 in
liabilities.


LEAP WIRELESS: Pocket Joint Venture Won't Move Moody's 'B2' Rating
------------------------------------------------------------------
Moody's Investors Service said that Leap Wireless International's
announced agreement with Pocket Communications to combine the two
companies' operations in South Texas into a joint-venture to be
controlled by Leap does not change Leap's B2 corporate family
rating or stable outlook.

Moody's most recent rating action on Leap was on May 28, 2009,
when the rating agency affirmed Leap's ratings and assigned a Ba2
rating to senior secured notes issued by Leap's wholly-owned
usbsidiary, Cricket Communications Inc.

Leap is a regional U.S. wireless operator offering an all-you-can-
use service for a flat monthly fee to about 5 million subscribers,
through Cricket Communications, Inc., and its operating
subsidiaries.  The company is headquartered in San Diego, CA.


LEVEL 3 COMMS: Had $3.695-Mil. Communications Revnue for FY2009
---------------------------------------------------------------
Level 3 Communications Inc. released additional historical
financial information for the first and second quarters 2009
detailing "Total Communications Revenue" using the revenue
reporting categories that will be used beginning in the first
quarter of 2010.

According to Level 3, Total Communications was $3,695,000,000 for
Full Year 2009.  For the first and second quarters, revenues were
$962,000,000 and $926,000,000 respectively.

The financial information filed with the Securities and Exchange
Commission may be accessed at http://ResearchArchives.com/t/s?56e8

                           About Level 3

Headquartered in Broomfield, Colorado, Level 3 Communications,
Inc., is a publicly traded international communications company
with one of the world's largest communications and Internet
backbones.

Level 3 Communications carries a 'Caa1' corporate family rating,
and 'Caa2' probability of default rating, with negative outlook
from Moody's, a 'B-' issuer default rating from Fitch, and 'B-'
long term issuer credit ratings from Standard & Poor's.


LIMITED BRANDS: S&P Changes Outlook to Stable; Affirms 'BB' Rating
------------------------------------------------------------------
Standard & Poor's Ratings Services said that it revised its rating
outlook on Limited Brands to stable from negative, and affirmed
its 'BB' corporate credit rating on the company.

"The ratings on Limited Brands reflect its participation in the
intensely competitive specialty retail industry and weak credit
measures," said Standard & Poor's credit analyst Jackie Oberoi.
The company's satisfactory market positions in intimate apparel
and personal care products and its geographic diversity partially
mitigate these weaknesses.  Victoria's Secret and Bath & Body
Works (BBW) are relatively mature businesses, and their growth
rates are slowing.  Limited Brands sells highly discretionary
items, and both Victoria's Secret and BBW suffered declines in
same-store sales and profitability in 2008 and 2009 because of the
significant drop in consumer spending.  Historically, both have
provided consistent and solid cash flows.  The overall financial
profile is commensurate with the 'BB' rating category.  Total debt
to EBITDA was approximately 3.6x at year end, down from 4.2x in
fiscal 2008.  S&P expects leverage to improve slightly in 2010
because of an expected modest increase in top-line sales and
continued good inventory management and expense controls.  EBITDA
coverage of interest was in the mid-3x range for the year, flat
from one year ago.  S&P expects coverage to improve modestly in
2010.


LINDA WOOLF: Case Summary & 16 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Linda Woolf
        943 Beartooth Circle
        Draper, UT 84020

Bankruptcy Case No.: 10-22326

Chapter 11 Petition Date: March 2, 2010

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

Debtor's Counsel: Michael L. Labertew, Esq.
                  50 W Broadway, Suite 1000
                  Salt Lake City, UT 84101
                  Tel: (801) 424-3555
                  Fax: (801) 365-7314
                  Email: michael@labertewlaw.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 16 largest unsecured creditors is
available for free at:

            http://bankrupt.com/misc/utb10-22326.pdf

The petition was signed by Ms. Woolf.


LODGENET INTERACTIVE: Anchorage Advisors No Longer Holds Shares
---------------------------------------------------------------
Anchorage Capital Master Offshore, Ltd.; Anchorage Advisors,
L.L.C.; Anchorage Advisors Management, L.L.C.; Anthony L. Davis;
and Kevin M. Ulrich disclosed that as of December 31, 2009, they
no longer held shares of LodgeNet Interactive Corporation common
stock.

Sioux Falls, South Dakota-based LodgeNet Interactive Corporation
(Nasdaq:LNET) -- http://www.lodgenet.com/-- provides media and
connectivity solutions designed to meet the unique needs of
hospitality, healthcare and other guest-based businesses.
LodgeNet Interactive serves more than 1.9 million hotel rooms
worldwide in addition to healthcare facilities throughout the
United States.  The Company's services include: Interactive
Television Solutions, Broadband Internet Solutions, Content
Solutions, Professional Solutions and Advertising Media Solutions.
LodgeNet Interactive Corporation owns and operates businesses
under the industry leading brands: LodgeNet, LodgeNetRX, and The
Hotel Networks.

The Company reported $508.3 million in assets and $579.3 million
in total liabilities, resulting to a $71.0 million stockholders'
deficit as of Dec. 31, 2009.

                          *     *     *

According to the Troubled Company Reporter on Sept. 30, 2009,
Moody's Investors Service upgraded LodgeNet Interactive
Corporation's speculative grade liquidity rating to SGL-3
(indicating adequate liquidity) from SGL-4 (indicating poor
liquidity) while revising the outlook for all ratings to stable
from negative.  Concurrently, Moody's also affirmed LodgeNet's B3
corporate family rating and Caa1 probability of default rating.


LODGENET INTERACTIVE: FMR, Fidelity Hold 5.590% of Common Stock
---------------------------------------------------------------
FMR LLC and Edward C. Johnson 3d disclosed that as of December 31,
2009, they may be deemed to beneficially own 1,333,758 shares or
roughly 5.590% of the common stock of LodgeNet Interactive
Corporation.

Sioux Falls, South Dakota-based LodgeNet Interactive Corporation
(Nasdaq:LNET) -- http://www.lodgenet.com/-- provides media and
connectivity solutions designed to meet the unique needs of
hospitality, healthcare and other guest-based businesses.
LodgeNet Interactive serves more than 1.9 million hotel rooms
worldwide in addition to healthcare facilities throughout the
United States.  The Company's services include: Interactive
Television Solutions, Broadband Internet Solutions, Content
Solutions, Professional Solutions and Advertising Media Solutions.
LodgeNet Interactive Corporation owns and operates businesses
under the industry leading brands: LodgeNet, LodgeNetRX, and The
Hotel Networks.

The Company reported $508.3 million in assets and $579.3 million
in total liabilities, resulting to a $71.0 million stockholders'
deficit as of Dec. 31, 2009.

                          *     *     *

According to the Troubled Company Reporter on Sept. 30, 2009,
Moody's Investors Service upgraded LodgeNet Interactive
Corporation's speculative grade liquidity rating to SGL-3
(indicating adequate liquidity) from SGL-4 (indicating poor
liquidity) while revising the outlook for all ratings to stable
from negative.  Concurrently, Moody's also affirmed LodgeNet's B3
corporate family rating and Caa1 probability of default rating.


LODGENET INTERACTIVE: Inks Employment Deal with Elsenbast as CFO
----------------------------------------------------------------
LodgeNet Interactive Corporation on February 25, 2010, entered
into an employment agreement with Frank P. Elsenbast, 44, pursuant
to which Mr. Elsenbast has been engaged as the Company's next
Senior Vice President and Chief Financial Officer.  Mr. Elsenbast
will begin his employment with the Company on or about April 19,
2010.  Mr. Elsenbast will assume the responsibilities currently
held by Gary H. Ritondaro, who previously announced his intention
to retire in mid-2010.

Mr. Elsenbast brings more than 20 years of corporate finance,
media industry background and public accounting experience to his
new responsibilities with the Company. Since 2000, Mr. Elsenbast
has been employed with ValueVision Media, Inc. (NASD:VVTV) d/b/a
ShopNBC, a multi-channel electronic retailer serving 75 million
homes in the US. Mr. Elsenbast most recently served as Senior Vice
President and CFO of ShopNBC since 2004. Prior to joining ShopNBC,
Mr. Elsenbast served in a variety of financial and analytical
roles with The Pillsbury Company. Mr. Elsenbast began his career
as a Certified Public Accountant with Arthur Andersen, LLP.

Mr. Elsenbast will receive a salary of $340,000 per year, an
annual bonus calculated in the same manner as other senior vice
presidents of the Company except that Mr. Elsenbast is guaranteed
a minimum bonus of $75,000 in 2010, and other benefits consistent
with those received by Company officers in comparable positions.
The Employment Agreement provides for severance compensation equal
to 18 months of salary in the event of termination without Cause
or with Good Reason following a Change in Control, as such terms
are defined in the Employment Agreement.  In addition, on the date
he begins his employment, Mr. Elsenbast will receive a restricted
stock grant of 20,000 shares of the Company's common stock, which
will vest half on the third anniversary of his employment and half
on the fourth anniversary of his employment.  Mr. Elsenbast will
also receive stock options to purchase 30,000 shares of the
Company's common stock at a purchase price equal to the closing
stock price on the day before his first day of employment. One-
quarter (7,500 shares) of these options will vest on each of the
first, second, third and fourth anniversaries of his employment.

                    About LodgeNet Interactive

Sioux Falls, South Dakota-based LodgeNet Interactive Corporation
(Nasdaq:LNET) -- http://www.lodgenet.com/-- provides media and
connectivity solutions designed to meet the unique needs of
hospitality, healthcare and other guest-based businesses.
LodgeNet Interactive serves more than 1.9 million hotel rooms
worldwide in addition to healthcare facilities throughout the
United States.  The Company's services include: Interactive
Television Solutions, Broadband Internet Solutions, Content
Solutions, Professional Solutions and Advertising Media Solutions.
LodgeNet Interactive Corporation owns and operates businesses
under the industry leading brands: LodgeNet, LodgeNetRX, and The
Hotel Networks.

The Company reported $508.3 million in assets and $579.3 million
in total liabilities, resulting to a $71.0 million stockholders'
deficit as of Dec. 31, 2009.

                          *     *     *

According to the Troubled Company Reporter on Sept. 30, 2009,
Moody's Investors Service upgraded LodgeNet Interactive
Corporation's speculative grade liquidity rating to SGL-3
(indicating adequate liquidity) from SGL-4 (indicating poor
liquidity) while revising the outlook for all ratings to stable
from negative.  Concurrently, Moody's also affirmed LodgeNet's B3
corporate family rating and Caa1 probability of default rating.


LOG LLC: Case Summary & 16 Largest Unsecured Creditors
------------------------------------------------------
Debtor: LOG, L.L.C.
          dba Olmsted Village East
        285 Olmsted Boulevard, Suite 7
        Pinehurst, NC 28374

Bankruptcy Case No.: 10-80378

Chapter 11 Petition Date: March 3, 2010

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

Debtor's Counsel: Gregory Byrd Crampton, Esq.
                  3700 Glenwood Ave., Ste. 500
                  Raleigh, NC 27612
                  Tel: (919) 781-1311
                  Fax: (919)782-0465
                  Email: gcrampton@nichollscrampton.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
16 largest unsecured creditors, is available for free at:

             http://bankrupt.com/misc/ncmb10-80378.pdf

The petition was signed by Marty R. McKenzie, manager/member of
the Company.


MAGNA ENTERTAINMENT: Gets Nod to Borrow Additional $7MM
-------------------------------------------------------
Bill Rochelle at Bloomberg News reports that Magna Entertainment
Corp. received interim authority from the Bankruptcy Court to
borrow a fresh $7 million, raising the total financing for the
reorganization to $71.4 million.  Magna said it would run out of
cash otherwise, given an "unexpected decline in revenue."  A final
hearing on the new financing will be held March 23.

Magna Entertainment and its units will seek approval on March 23
of the disclosure statement explaining their proposed plan of
reorganization.  MI Developments Inc. and the Official Committee
of Unsecured Creditors of MEC serve as co-proponents of the Plan.

                    About Magna Entertainment

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

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

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

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

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


MALUHIA DEV'T: Files List of Unsecured Creditors
------------------------------------------------
Maluhia Development Group, LLC, has filed with the U.S. Bankruptcy
Court for the Northern District of Texas a list of its largest
unsecured creditors.

On February 26, 2010, the Debtor filed an amended list of 20 of
its largest unsecured creditors.  A copy of the list is available
for free at http://bankrupt.com/misc/txnb10-30475.pdf

Chicago, Illinois-based Maluhia Development Group, LLC, dba MDG,
filed for Chapter 11 bankruptcy protection on January 21, 2010
(Bankr. N.D. Texas Case No. 10-30475).  Rakhee V. Patel, Esq., at
Pronske & Patel, P.C., assists the Company in its restructuring
effort.  The Company listed $1,000,001 to $10,000,000 in assets
and $10,000,001 to $50,000,000 in liabilities.


MARQUISE 7 ENTERPRISES: Case Summary & 2 Largest Unsec. Creditors
-----------------------------------------------------------------
Debtor: Marquise 7 Enterprises, LLC
        4943 Snapfingerwoods Drive
        Decatur, GA 30035

Bankruptcy Case No.: 10-66314

Chapter 11 Petition Date: March 2, 2010

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

Judge: James Massey

Debtor's Counsel: Stephen F. Suarino, Esq.
                  Suarino Law, PC
                  Suite 140, 1770 Indian Trail-Lilburn Rd.
                  Norcross, GA 30093
                  Tel: (678) 597-1388
                  Fax: (678) 697-1190
                  Email: attorney@suarinolaw.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
2 largest unsecured creditors, is available for free at:

             http://bankrupt.com/misc/ganb10-66314.pdf

The petition was signed by Nizar Jooma, managing member of the
Company.


MASCO CORPORATION: Fitch Affirms Issuer Default Rating at 'BB+'
---------------------------------------------------------------
Fitch Ratings has affirmed Masco Corporation's ratings:

  -- Issuer Default Rating at 'BB+';
  -- Senior unsecured notes at 'BB+';
  -- Unsecured bank credit facility at 'BB+'.

The Rating Outlook has been revised to Stable from Negative.

The ratings reflect Masco's leading market position with strong
brand recognition in its various business segments, the breadth of
its product offerings, and solid free cash flow generation.  Risk
factors include sensitivity to general economic trends, as well as
the cyclicality of the residential construction market.

The revision to a Stable Outlook reflects the company's stronger
liquidity position at the end of 2009 and demonstrated ability to
generate meaningful free cash flow.  While the company's financial
results remain negatively affected by the persistent weakness in
the housing and home improvement markets, Masco continues to
generate solid free cash flow and ended the year with $1.4 billion
of cash on the balance sheet.  The Stable Outlook also reflects
Fitch's view of improved housing and home improvement markets in
2010 compared with 2009.

Net sales of $1.9 billion for the fourth quarter of 2009 (4Q'09,
ended Dec. 31, 2009) dropped 3% year-over-year (YOY) following
double-digit sales decreases for seven consecutive quarters.  The
company also reported positive 4Q'09 YOY sales comparisons for
three of its five business segments, with continued strength in
Decorative Architectural Products and sales improvements in
Plumbing and Other Specialty Products.  Sales for the company's
Cabinet and Related Products remained weak, reflecting consumers'
continued reluctance to undertake large-scale renovations.  While
there have been some recent indications that homeowners are more
willing to take on larger, more discretionary type home
improvement projects, Fitch assumes continued pressure on big
ticket items during 2010 as high unemployment levels persist and
housing prices remain relatively unstable.  Masco's Installation
Services business also reported continued weakness during the
fourth quarter.  Sales from this business segment typically lag
residential housing starts by approximately three months.  Given
the 19.2% decline in housing starts during 4Q'09, Fitch expects
lower sales for this segment to continue during 1Q'10.  Sales from
the Installation Services business could see a temporary boost
during 2Q'10 as homebuilders ramp up construction of new homes
during the first quarter to take advantage of potential homebuyers
utilizing the home tax credit, which expires on June 30, 2010.  In
January, total housing starts were at a seasonally adjusted annual
rate of 591,000 homes, a 2.8% increase from the December 2009
level and a 21.1% increase over the January 2009 period.

Masco's margins and credit metrics have deteriorated over the past
few years.  EBITDA to interest coverage declined from 5.9 times
(x) in 2007 to 3.7x in 2008 and 2.8x in 2009.  Funds from
operations interest coverage also dropped to 3.1x in 2009 from
3.8x in 2008 and 4.8x in 2007.  The company's leverage as measured
by debt to EBITDA has steadily increased from 2.7x in 2007 to 4.7x
in 2008 and 6.2x in 2009.  However, Fitch expects the company's
credit metrics to improve this year, with EBITDA to interest
coverage rising above 3x and the leverage ratio to be at or below
5x for fiscal 2010.

Masco has solid liquidity with $1.4 billion of cash and
$1.2 billion of borrowing capacity under its $1.25 billion
unsecured revolving credit facility that matures in February 2011.
The company should have continued access to its revolver as Fitch
expects Masco to maintain sufficient cushion under its financial
covenants.

Masco continued to generate significant free cash flow (cash flow
from operations less capital expenditures and dividends) during
2009, generating $414 million compared to $261 million during
2008.  Fitch is also encouraged that management has taken steps to
preserve its liquidity during these uncertain times.  Masco had
been an aggressive purchaser of its stock since 2003, spending
about $1.2 billion annually, on average, in share repurchases and
dividends during 2003-2007.  In 2008, Masco spent $496 million on
the combination of share repurchases ($160 million) and dividends
($336 million).  The company has not repurchased stock since July
2008 and has put its share repurchase program on hold, except for
stock buybacks to offset the dilutive effect of stock grants.  In
March 2009, Masco also reduced its quarterly dividend from $.235
per common share ($.94 annually) to $.075 per share ($.30
annually), saving approximately $225 million per year.  Fitch
expects the company to preserve its strong liquidity position and
refrain from meaningful share repurchases through at least this
year.

Fitch's rating also takes into account the cyclicality of Masco's
end-markets.  In the past, Masco's relative earnings stability
during cyclical downturns were driven by end-market
diversification -- historically, weakness in residential demand
has been largely offset by growth in the repair and remodel
segment.  This has not been the case over the past three years,
wherein both of Masco's end-markets were in decline
simultaneously.  Recent statistical and anecdotal information
point to a possible bottom for U.S. housing, although early-stage
recovery will be more muted than average.  After falling by 13.1%
in 2008, existing home sales rose 4.9% in 2009 and are projected
to grow 6.5% in 2010.  In 2009, total housing starts fell 38.8%
while single-family housing starts decreased 28.4%.  Fitch
projects 2010 total and single-family housing starts to increase
14.8% and 18.6%, respectively.  New single-family home sales fell
22.9% in 2009 and are forecasted to grow 19.9% in 2010.

Similar to the overall housing market, the U.S. home improvement
industry is mired in an extended downturn.  According to the Home
Improvement Research Institute, sales of home improvement products
declined 3.7% to $291.5 billion in 2008 following a 1.4% decline
in 2007.  The HIRI currently estimates home improvement product
sales to have fallen a further 8.3% in 2009 to $267.3 billion.
While currently low interest rates make borrowing for home
renovations attractive, credit availability remains challenging.
The tightening of lending standards has made it more difficult and
expensive for homeowners to finance remodeling projects.
Additionally, unstable home prices, near record levels of
foreclosures and other distressed sales are discouraging
households from undertaking discretionary home projects.  A mild
pick-up in home sales, particularly in existing home sales,
combined with a strengthening economy could lead to higher
spending on home renovations this year.  Fitch currently projects
home improvement spending to grow 3.5% in 2010.

Future ratings and Outlooks will be influenced by broad housing
and home improvement market trends, as well as company-specific
activity, particularly free cash flow trends and uses.  Masco's
rating is constrained in the intermediate term due to weak credit
metrics, but a Positive Rating Outlook may be considered if the
recovery in housing metrics and home improvement spending is
significantly better than Fitch's outlook and the company improves
its credit metrics above Fitch's current expectations.  Negative
rating actions could occur if the anticipated recovery in Masco's
end-markets do not materialize and/or management resumes a
meaningful share repurchase program before there is clear
stability in the housing and home improvement markets.

Founded in 1929, Masco Corporation manufactures, sells and
installs home improvement and building products, with emphasis on
brand-name products and services holding leadership positions in
their markets.  The company is among the largest manufacturers in
North America of brand-name consumer products designed for home
improvement and new construction markets.


MESA AIR: Gets Final Nod to Employ Imperial as Fin'l Advisor
------------------------------------------------------------
Mesa Air Group Inc. and its units obtaiend final approval to
employ Imperial Capital, LLC, as their financial advisor and
investment banker, nunc pro tunc to the Petition Date.

The Debtors also ask the Court to approve the proposed terms of
employment under the engagement agreement dated July 2, 2009, and
the addendum dated December 29, 2009, between the Debtors and
Imperial.

In 2009, Imperial served as financial advisor to the Debtors in
the restructuring of approximately $150,000,000 of convertible
notes, Michael J. Lotz, the Debtors' president, relates.
Imperial commenced its current engagement with the Debtors in
late June 2009 and revised the Engagement Letter dated July 2,
2009.

Pursuant to the Engagement Letter, the Debtors retained Imperial
to provide financial advisory services in connection with the
evaluation of strategic alternatives and:

  (i) the formulation of a plan of reorganization, which may be
      consummated with or without the supervision of the United
      States Bankruptcy Court, and which will entail material
      modifications to, or termination of, the Company's
      existing securities, credit agreements, aircraft lease
      obligations (covering not less than 30 aircraft) or other
      material contractual obligations -- a Restructuring; and

(ii) a potential transaction, which transaction may include a
      capital raise involving at least $15,000,000, merger,
      consolidation, or any other business combination, in one
      or a series of transactions, or a purchase or sale
      involving all or substantially all of the business,
      securities or assets of the Company, or one or more
      subsidiaries or divisions of the Company, or any
      transaction structured to substantially achieve the same
      result -- each a Transaction.

Pursuant to the Engagement Letter, Imperial has provided, is
providing and will continue to provide, consulting and advisory
services as the parties deem appropriate and feasible to advise
the Debtors in the course of their Chapter 11 cases.

Specifically, Imperial will render various services to the
Debtors, including:

  (a) analysis of the Debtors' business, operations, properties,
      financial condition, competition, prospects and
      management;

  (b) assistance to the Debtors in the preparation of its
      financial forecasts and related scenarios;

  (c) financial valuation of the ongoing operations of the
      Debtors;

  (d) assistance to the Debtors in the preparation of reports
      and other materials related to a potential Restructuring,
      and updates on the Debtors and their financial
      performance, and assistance to the Debtors in the
      communication of those materials with their existing key
      constituents;

  (e) assistance to the Debtors in developing, evaluating,
      structuring and negotiating the terms and conditions of a
      potential Restructuring or Transaction;

  (f) identification and contact selected qualified buyers for a
      Transaction and furnishing them with copies of offering
      materials related to a Transaction; and

  (g) other financial advisory services with respect to
      the Debtors' financial issues as may be agreed upon by the
      parties.

According to Mr. Lotz, as compensation for the services rendered
pursuant to the Engagement Letter, as amended, the Debtors have
agreed to pay Imperial:

  (a) a cash advisory fee of $150,000 per month; and

  (b) a base fee of $2,500,000, payable in cash upon the closing
      of a Restructuring or upon consummation of a Transaction.
      However, the Completion Fee will be increased to
      $3,800,000 if the Restructuring or Transaction involves
      the raising of significant new financing of not less than
      $15,000,000, or if the present value of expected future
      cash benefits resulting from the Restructuring or
      Transaction exceeds $20,000,000.

In addition, expenses incurred by Imperial in connection with the
services to be rendered will be reimbursed by the Debtors.

Mr. Lotz informs the Court that before the Petition Date, and
according to the terms of the Engagement Letter, as amended,
Imperial received a total of $700,988 from the Debtors, including
$625,000 from the Debtors on account of advisory fees, $50,000 on
account of deposit for prepayment of certain estimated expenses,
and $25,988 for reimbursable expenses.

Imperial will hold any amounts received prepetition in excess of
fees and expenses that accrued prepetition, including the
Deposit, and apply the excess amounts towards fees and expenses
that accrue postpetition, subject to the entry of an order of the
Court authorizing the payment of those fees and expenses.

Marc A. Bilbao, a managing director of Imperial Capital, LLC,
relates that the firm provides financial advisory services to an
array of clients in the areas of restructuring and distressed
debt.  As a result, Imperial has represented, and may in the
future represent, certain parties-in-interest in matters
unrelated to the Debtors' Chapter 11 cases.

Imperial and its affiliates may have, and may continue, to have
investment banking and other relationships with parties other
than the Debtors pursuant to which Imperial may acquire
information of interest to the Debtors.

Mr. Bilbao discloses that Imperial has previously and may again
represent Hawaiian Airlines with respect to various investment
banking activities.  Imperial has also previously and may again
represent the Air Line Pilots Association to provide ALPA and
ALPA's United Master Executive Council with investment banking
and other financial advisory services and advice with respect to
UAL Corporation.  Imperial will have no obligation to disclose
those information to the Debtors, or to use those information in
connection with the matters set forth in the Engagement Letter.

If the Court approves Imperial's retention, Imperial will not
accept any engagement or perform any service for any entity or
person other than the Debtors in these Chapter 11 cases.
Imperial will, however, continue to provide professional services
to entities or persons that may be creditors or equity security
holders of the Debtors or parties in interest in these Chapter 11
cases, provided that these services do not relate to, or have any
direct connection with, these Chapter 11 cases or the Debtors,
Mr. Bilbao assures the Court.

Imperial does not hold or represent any interest adverse to the
Debtors or their estates.  Imperial is a disinterested person, as
the term is defined in Section 101(14) of the Bankruptcy Code,
Mr. Bilbao attests.

                     About Mesa Air Group

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

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

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

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


MESA AIR: Committee Proposes Macquarie as Financial Advisor
-----------------------------------------------------------
The Official Committee of Unsecured Creditors in Mesa Air Group
Inc.'s cases seeks to retain Macquarie Capital (USA) Inc., as its
financial advisor and investment banker, nunc pro tunc to
January 21, 2010, in accordance with a certain letter agreement
entered on the same date.

According to Brian Bruce of the Air Line Pilots Association,
International, co-chairperson of the Creditors' Committee,
Macquarie will perform services including:

  (a) advise the Creditors' Committee regarding the Debtors'
      business plans, cash flow forecasts, financial projections
      and cash flow reporting;

  (b) advise the Creditors' Committee with respect to available
      capital restructuring, sale and financing alternatives;

  (c) advise the Creditors' Committee regarding financial
      information prepared by the Debtors, and in its
      coordination of communication with interested parties and
      their advisors;

  (d) advise the Creditors' Committee in the development of a
      plan of reorganization for the Debtors and negotiation
      with parties-in-interest, or in the sale of a portion or
      substantially all of the Debtors' assets; and

  (e) advise the Creditors' Committee as to the Debtors'
      proposals from third parties for new sources of capital or
      the sale of the Debtors.

Macquarie will be paid for the Services:

  (a) A monthly fee of $125,000; and

  (b) At the discretion of the Creditors' Committee, a
      completion fee of $1,000,000, upon consummation of a
      restructuring or a transaction.

As Macquarie docs not customarily maintain detailed time records
similar to those customarily maintained by attorneys, and because
the firm's services would not be compensated by reference to the
number of hours, and the Agreement provides that Macquarie
will receive certain fixed fees, the Creditors' Committee asks
that the firm be permitted to maintain time records for services
in one-half hour increments.

The firm will also seek reimbursement of actual, necessary
expenses and other charges incurred.

As set forth in the Agreement, and subject to certain terms and
conditions, the Creditors' Committee asks that the Debtors
indemnify Macquarie and certain related parties from losses
directly or indirectly related to the engagement of the firm.
The payment of indemnity pursuant to the Agreement will be
subject an application of the Court, and will be subject to
review by the Court to ensure that payment of the indemnity
conforms to the terms of the Agreement and is reasonable based
upon the circumstances of the litigation or settlement in respect
of which indemnity is sought, Mr. Bruce says.

R. Edward Albert, managing director of Macquarie, discloses that
the firm has represented, currently represents, and will likely
in the future represent certain interested parties or potential
interested parties in the Debtors' Chapter 11 cases in matters
unrelated to the Debtors, their cases, or the entities' claims
against the Debtors.  As part of its customary practice, the firm
is retained in cases, proceedings and transactions involving many
different parties throughout the United States and worldwide,
some of whom may represent or be employed by the Debtors,
claimants, and interested parties.

As part of their practices, Macquarie and its affiliates may
appear in cases, proceedings and transactions involving many
different attorneys, accountants and financial advisors, some of
which may represent or be claimants or parties-in-interest in
these cases.  Macquarie and its affiliates are not representing
these professionals in the Debtors' Chapter 11 cases, and do not
have any relationship with entities that would cause the firm to
be adverse to the Debtors or materially adverse to any class of
the Debtors' creditors or equity security holders, Mr. Albert
assures the Court.

Macquarie is a member firm of the Macquarie Group, a diversified
international provider of specialist investment, advisory,
trading and financial services in select markets around the
world.  MG is headquartered in Sydney, Australia.

With customer accounts and investment banking and financial
advisory clients around the world, it is possible that one or
more of MG's clients or counter parties to transactions with MG
may hold a claim or otherwise be an interested party in the
Debtors' bankruptcy cases, Mr. Albert informs the Court.  He
assures the Court, however, that none of these business
relationships constitutes interests of Macquarie that are adverse
to the Debtors or materially adverse to any class of the Debtors'
creditors or equity security holders.

He adds that Macquarie will not accept any engagement that would
require it to represent an interest adverse to the Creditors'
Committee or materially adverse to the Debtors' creditors or
equity security holders while retained by the Committee.

Macquarie does not hold or represent any interest adverse to the
Debtors' estates.  The firm is a disinterested person, as the
term is defined in Section 101(14) of the Bankruptcy Code, Mr.
Albert attests.

                     About Mesa Air Group

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

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

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

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


MESA AIR: Committee Gets Nod for Morrison as Counsel
----------------------------------------------------
The Official Committee of Unsecured Creditors in Mesa Air Group
Inc.'s cases obtained the Court's authority to retain Morrison &
Foerster, LLP, as its counsel, nunc pro tunc to January 13, 2010.

Morrison will provide a range of services to the Creditors'
Committee, including:

  (a) to assist and advise the Committee in its consultation
      with the Debtors relative to the administration of these
      bankruptcy cases;

  (b) to assist and advise the Committee in its examination and
      analysis of the conduct of the Debtors' affairs;

  (c) to assist the Committee in the review, analysis and
      negotiation of any plan of reorganization and disclosure
      statement accompanying the plan;

  (d) to take all necessary action to protect and preserve the
      interests of the Committee and general unsecured
      creditors; and

  (e) to perform all other necessary legal services in these
      cases.

Morrison will be paid its customary hourly rates, which are
subject to periodic adjustments, and will be reimbursed for
actual, necessary expenses and other charges incurred.  The
firm's current standard rates, and the professionals expected to
have primary responsibility in providing the Services, are:

        Partners                       $600 - $950
        Counsel                        $395 - $875
        Associates                     $295 - $640
        Paraprofessionals              $165 - $270
        Brett H. Miller, partner              $800
        Lorenzo Marinuzzi, partner            $700
        Todd M. Goren, associate              $625
        Erica J. Richards, associate          $490
        Stephen Koshgerian, associate         $370
        Laura Guido, paraprofessional         $230
        Douglas Keeton, paraprofessional      $195

According to Brett H. Miller, Esq., a partner at Morrison, the
firm has represented, currently represents, and will likely in
the future represent, certain parties-in-interest or potential
parties-in-interest in these Chapter 11 cases in matters
unrelated to the Debtors, the bankruptcy cases, or the entities'
claims against the Debtors.  As part of its customary practice,
Morrison is retained in cases, proceedings, and transactions
involving many different parties throughout the United States and
worldwide, some of whom may represent or be employed by the
Debtors, claimants, and parties-in-interest in these Chapter 11
cases.

Mr. Miller discloses that Morrison has, in the past, represented
US Airways Inc., United Airlines Inc. and certain of its
affiliates, and affiliates of Delta Air Lines Inc. in matters
that are closed and none of which involved the Debtors.

Morrison will not represent the Creditors' Committee in an
adversary proceeding or other litigation against any of the
firm's client without obtaining appropriate waivers where
necessary or appropriate.  The firm also will not represent any
client in any matter involving the Debtors or their Chapter 11
cases while retained as the Creditors' Committee's counsel, Mr.
Miller assures the Court.

Morrison does not hold or represent any interest adverse to the
Debtors' estates and, except as disclosed, does not have any
connections to the Debtors' creditors, affiliates, other parties-
in-interest and potential parties-in-interest, the Assistant
United States Trustee for the Southern District of New York and
the attorneys employed by the U.S. Trustee, or any judge in the
United States Bankruptcy Court for the Southern District of New
York.  The firm is a disinterested person, as the term is defined
in Section 101(14) of the Bankruptcy Code, as modified by Section
1107(b) of the Bankruptcy Code, Mr. Miller attests.

To the extent that Morrison is determined to have a conflict with
respect to a particular client or matter, the Creditors Committee
will utilize separate conflicts counsel.  The firm will make all
reasonable efforts not to duplicate the services rendered by
these professionals.

                     About Mesa Air Group

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

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

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

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


MILLIPORE CORP: S&P Affirms Corporate Credit Rating at 'BB+'
------------------------------------------------------------
Standard & Poor's Ratings Services said that it affirmed its 'BB+'
corporate credit rating on Millipore Corp. and maintained its
positive outlook on the rating.  At the same time, S&P placed its
senior secured and senior unsecured debt ratings on CreditWatch
with positive implications, following the announcement that Merck
KGaA (BBB+/Stable/A-2) has agreed to buy Millipore for roughly
$7.2 billion, including assumed debt.

Billerica, Massachusetts-based Millipore continues to generate
solid earnings and free cash flows.  The company sells a wide
range of products for life science research laboratories and
biopharmaceutical production.  Approximately 90% of the company's
sales are consumables, lending some stability to Millipore's top
line.  The corporate credit rating on Millipore will be withdrawn
upon the completion of its acquisition by Merck KGaA, expected in
the second half of 2010.  The ratings on Millipore's individual
debt issues will be raised to Merck KGaA's level, or withdrawn as
well if refinanced by Merck KGaA.


MIRA ENTERPRISES: Files for Chapter 11 Bankruptcy
-------------------------------------------------
Ben Sutherly, staff writer at Dayton Daily News, reports that
Mira Enterprises LLC filed for Chapter 11 bankruptcy listing both
assets and liabilities of between $100,000 and $500,000.

According to report, the Company's unsecured debt includes a
$100,000 loan to buyout the interest of a former member, Ashok
Kishinchand; and disputed claims for breach of contract with three
people: Anuj Desai of Dayton; Elizabeth Layer of Franklin; and
Richard Booker of Franklin.

Mira Enterprises LLC operates Shell gas station in Springboro,
Ohio.


MONTEVALLO APARTMENTS: Case Summary & 1 Largest Unsecured Creditor
------------------------------------------------------------------
Debtor: Montevallo Apartments, LLC
        2811 Eagles Nest Drive
        Palm Harbor, FL 34683

Bankruptcy Case No.: 10-04857

Chapter 11 Petition Date: March 3, 2010

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

Debtor's Counsel: Joel S. Treuhaft, Esq.
                  2997 Alternate 19, Suite B
                  Palm Harbor, FL 34683
                  Tel: (727) 797-7799
                  Fax: (727) 213-6933
                  Email: jstreuhaft@yahoo.com

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

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

The Debtor identified Birmingham Waters & Sewer with a debt claim
for an unknown amount 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/flmb10-04857.pdf

The petition was signed by Marc Johnson, managing member of the
Company.


MUEBLERIA PROVINCIAL: Case Summary & 13 Largest Unsec. Creditors
----------------------------------------------------------------
Debtor: Muebleria Provincial Inc.
        PO Box 353
        San German, PR 00683

Bankruptcy Case No.: 10-01625

Chapter 11 Petition Date: March 2, 2010

Court: United States Bankruptcy Court
       District of Puerto Rico (Ponce)

Debtor's Counsel: Jesus Santiago Malavet, Esq.
                  Santiago Malavet And Santiago Law Office
                  470 Sagrado Corazon Street
                  San Juan, PR 00915
                  Tel: (787) 727-3058
                  Fax: (787) 726-5906
                  Email: smslopsc@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 $6,433,068,
and total debts of $1,987,058.

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

                 http://bankrupt.com/misc/prb10-01625.pdf

The petition was signed by Amilcar L. Cintron Lugo, president of
the Company.


NEXTMEDIA GROUP: Court Fixes March 29 as Claims Bar Date
--------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware established
March 29, 2010, at 5:00 p.m. (prevailing Eastern Time) as the
deadline for an individual or entity to file proofs of claim
against NextMedia Group, Inc., et al.

The Court also set the governmental bar date for June 21, 2010, at
5:00 p.m. (ET.)

Proofs of claim may be submitted to:

if by regular mail:

   BMC Group, Inc
   Attn:Nextmedia Claims Processing
   P.O. Box 3020
   Chanhassen, MN 55317-3020

if by messenger or overnight delivery:

   BMC Group Inc.
   Attn: NextMedia Claims Processing
   18750 Lake Drive East
   Chanhassen, MN 55317

Greenwood Village, Colorado-based NextMedia Group, Inc., provides
out-of-home media services through radio broadcasting and outdoor
advertising.  The Debtors operate an aggregate of 36 AM and FM
radio stations in a total of seven rated and unrated small, mid-
size and suburban markets, including the Greenville-New Bern-
Jacksonville, North Carolina area; the Saginaw-Bay City-Midland,
Michigan area; Canton, Ohio; Myrtle Beach, South Carolina; San
Jose, California; suburban Chicago; and suburban Dallas.

NextMedia Group filed for Chapter 11 bankruptcy protection on
December 21, 2009 (Bankr. D. Delaware Case No. 09-14463).  The
Debtor's affiliates, NextMedia Investors LLC, et al., also filed
Chapter 11 bankruptcy petitions.  Paul N. Heath, Esq.; Michael J.
Merchant, Esq.; and Chun I. Jang, Esq., at Richards Layton &
Finger, assist the Debtors in their restructuring efforts.
NextMedia Group listed $50,000,001 to $100,000,000 in assets and
$100,000,001 to $500,000,000 in liabilities.


NEXTMEDIA GROUP: Plan Confirmation Hearing Set for March 22
-----------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware approved
NextMedia Group, Inc., et al.'s Disclosure Statement explaining
their amended Chapter 11 Plan of Reorganization.  The Bankruptcy
Court approval of the Debtors' Disclosure Statement allows the
Debtors to commence the solicitation of votes for confirmation of
their Plan.

All solicitation materials, including the Disclosure Statement and
forms of the ballots are available by paper copy upon written
request to the Debtor's tabulation agent, BMC Group Inc.

The deadline for returning completed ballots is 5:00 p.m. EST on
March 19, 2010.  Objections, if any, to confirmation of the Plan
must be received by the Court and notice parties no later than
March 19, 2010.  A hearing to consider confirmation of the Plan is
scheduled for March 22, 2010, at 4:00 p.m. (ET.)

According to the disclosure statement, the plan contemplates a
restructuring and reorganization of the Debtors.  The principal
terms of the Plan are:

   i) holders of the first lien debt and holders of the general
      unsecured claims will be paid in full;

  ii) holders of the second lien debt will receive 95% of the
      common equity in Reorganized NM Group, subject to dilution;

iii) second lien investors will receive 66.67% of the common
      equity in Reorganized NM Group in exchange for a $55 million
      equity investment, subject to dilution;

  iv) holders of equity interest in NM investors will receive 5%
      of the common equity in Reorganized NM Group, subject to
      dilution;

   v) NM investors will be dissolved and cease to exist as a legal
      entity.

The restructuring will be financed through the equity investment,
new debt financing of $127.5 million, cash on hand and any other
additional financing that may be necessary.

A full-text copy of the amended Disclosure Statement is available
for free at http://bankrupt.com/misc/NextMedia_AmendedDS.pdf

                          NextMedia Group

Greenwood Village, Colorado-based NextMedia Group, Inc., provides
out-of-home media services through radio broadcasting and outdoor
advertising.  The Debtors operate an aggregate of 36 AM and FM
radio stations in a total of seven rated and unrated small, mid-
size and suburban markets, including the Greenville-New Bern-
Jacksonville, North Carolina area; the Saginaw-Bay City-Midland,
Michigan area; Canton, Ohio; Myrtle Beach, South Carolina; San
Jose, California; suburban Chicago; and suburban Dallas.

NextMedia Group filed for Chapter 11 bankruptcy protection on
December 21, 2009 (Bankr. D. Delaware Case No. 09-14463).  The
Debtor's affiliates, NextMedia Investors LLC, et al., also filed
Chapter 11 bankruptcy petitions.  Paul N. Heath, Esq.; Michael J.
Merchant, Esq.; and Chun I. Jang, Esq., at Richards Layton &
Finger, assist the Debtors in their restructuring efforts.
NextMedia Group listed $50,000,001 to $100,000,000 in assets and
$100,000,001 to $500,000,000 in liabilities.


NIGHTLIFE ENTERPRISES: Recession, Debt Woes Forced Bankruptcy
-------------------------------------------------------------
Nightlife Enterprises, L.P., doing business as China Club, filed
for Chapter 11 in late February (Bankr. S.D.N.Y. Case No. 10-
10956).  It said assets are $2 million while debt is almost
$6.9 million.

China Club is a nightclub on 47th Street in Manhattan between
Broadway and 8th Avenue.  According to Bill Rochelle at Bloomberg
News reports that the club said it was forced into bankruptcy by
the recession and the need to borrow to pay for renovations.


NORTEL NETWORKS: Has Settlement With ATC, et al.
------------------------------------------------
Nortel Networks Inc. and its affiliated debtors sought and
obtained Bankruptcy Court approval of an agreement that would
settle their claims against Atlanta Telephone Company and its
president, John Peacock.

The parties' deal was hammered out to settle the remaining
payments of $5 million under the 2008 consent judgment and the
lawsuit NNI and Nortel Networks Ltd. filed against ATC in 2008
for trademark infringement and certain other charges.

Nortel commenced the 2008 Lawsuit after a customer complained
about counterfeit Nortel telephone sets he received from ATC.
Nortel previously filed a complaint against ATC and Mr. Peacock
in 2006, alleging misrepresentations and multiple breaches in
connection with a 2004 reseller agreement, under which ATC served
as reseller of certain Nortel products.  The 2006 Complaint was
resolved by an agreement among NNI, NNL and the defendants, which
required ATC to execute a consent judgment in the sum of
$5 million, which has not yet been paid in full to date.

The parties' current Settlement provides that:

  (a) ATC will make a lump-sum payment to NNI and NNC in return
      for the dismissal of the 2008 Lawsuit.  The payment amount
      has been filed under seal.

  (b) NNI and NNC will retain ATC's inventory that was seized
      about a week after the 2008 Lawsuit was filed.

A redacted copy of the parties' 2010 Settlement is available at:

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

NNI also sought and obtained approval to file under seal an
unredacted copy of the ATC Settlement Agreement with the Court.

                       About Nortel Networks

Nortel Networks (OTCBB:NRTLQ) -- http://www.nortel.com/--
delivers communications capabilities that make the promise of
Business Made Simple a reality for the Company's customers.  The
Company's next-generation technologies, for both service provider
and enterprise networks, support multimedia and business-critical
applications.  Nortel's technologies are designed to help
eliminate the barriers to efficiency, speed and performance by
simplifying networks and connecting people to the information they
need, when they need it.

Nortel Networks Corp., Nortel Networks Inc., and other affiliated
corporations in Canada sought insolvency protection under the
Companies' Creditors Arrangement Act in the Ontario Superior Court
of Justice (Commercial List).  Ernst & Young was appointed to
serve as monitor and foreign representative of the Canadian Nortel
Group.

The Monitor sought recognition of the CCAA Proceedings in the U.S.
by filing a bankruptcy petition under Chapter 15 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 09-10164).  Mary Caloway,
Esq., and Peter James Duhig, Esq., at Buchanan Ingersoll & Rooney
PC, in Wilmington, Delaware, serves as the Chapter 15 petitioner's
counsel.

Nortel Networks Inc. and 14 affiliates filed separate Chapter 11
petitions on January 14, 2009 (Bankr. D. Del. Case No. 09-10138).
Judge Kevin Gross presides over the case.  James L. Bromley, Esq.,
at Cleary Gottlieb Steen & Hamilton, LLP, in New York, serves as
general bankruptcy counsel; Derek C. Abbott, Esq., at Morris
Nichols Arsht & Tunnell LLP, in Wilmington, serves as Delaware
counsel.  The Chapter 11 Debtors' other professionals are Lazard
Freres & Co. LLC as financial advisors; and Epiq Bankruptcy
Solutions LLC as claims and notice agent.

Certain of Nortel's European subsidiaries also made consequential
filings for creditor protection.  The Nortel Companies related in
a press release that Nortel Networks UK Limited and certain
subsidiaries of the Nortel group incorporated in the EMEA region
have each obtained an administration order from the English High
Court of Justice under the Insolvency Act 1986.  The applications
were made by the EMEA Subsidiaries under the provisions of the
European Union's Council Regulation (EC) No. 1346/2000 on
Insolvency Proceedings and on the basis that each EMEA
Subsidiary's centre of main interests is in England.  Under the
terms of the orders, representatives of Ernst & Young LLP have
been appointed as administrators of each of the EMEA Companies and
will continue to manage the EMEA Companies and operate their
businesses under the jurisdiction of the English Court and in
accordance with the applicable provisions of the Insolvency Act.

Several entities, particularly, Nortel Government Solutions
Incorporated have material operations and are not part of the
bankruptcy proceedings.

As of September 30, 2008, Nortel Networks Corp. reported
consolidated assets of US$11.6 billion and consolidated
liabilities of US$11.8 billion.  The Nortel Companies' U.S.
businesses are primarily conducted through Nortel Networks Inc.,
which is the parent of majority of the U.S. Nortel Companies.  As
of September 30, 2008, NNI had assets of about US$9 billion and
liabilities of US$3.2 billion, which do not include NNI's
guarantee of some or all of the Nortel Companies' about
US$4.2 billion of unsecured public debt.

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


NORTEL NETWORKS: Proposes Settlement With Jabil Circuit, et al.
---------------------------------------------------------------
Nortel Networks Inc. and its affiliated debtors ask the U.S.
Bankruptcy Court for the District of Delaware to approve a series
of agreements that would settle their dispute with a primary
supplier, Jabil Circuit Inc.

The Agreements include:

  (1) An inventory security deposit agreement or ISDA that NNI
      reached with two of its foreign affiliates and Jabil.
      Pursuant to the ISDA, Jabil agreed to not to pursue its
      claims against the Debtors under the parties' 2008 Supply
      Agreements.  Jabil also agreed on commercial arrangements
      in connection with their continued performance under the
      Supply Agreements;

  (2) An escrow agreement; and

  (3) A side agreement among the Debtors, which provides for the
      allocation of costs related to the ISDA.

Jabil's claims stemmed from an alleged breach by the Debtors of
the 2008 Supply Agreements.  Jabil asserted that the Debtors'
alleged breach of the Supply Agreements entitles it to stop
shipping goods to the Debtors.

"The Debtors accrue clear benefits from the ISDA and the
accompanying escrow agreement as the agreements resolve the
pending disputes and further the Debtors' supply relationship
with Jabil," says Ann Cordo, Esq., at Morris Nichols Arsht &
Tunnell LLP, in Wilmington, Delaware.

"The Debtors estimate that it could take several months to
replace Jabil as a supplier of these components absent a
resolution of the disputes in a manner satisfactory to the
Debtors," Ms. Cordo says in court papers.

The Debtors further seek the Court's permission to file the ISDA,
the Escrow and Side agreements, and the declaration of a certain
Robert Bariahtaris under seal on grounds that those documents
contain confidential information about their relations with
Jabil.

The Court will hold a hearing on March 3, 2010, to consider
approval of the Debtors' request.

                       About Nortel Networks

Nortel Networks (OTCBB:NRTLQ) -- http://www.nortel.com/--
delivers communications capabilities that make the promise of
Business Made Simple a reality for the Company's customers.  The
Company's next-generation technologies, for both service provider
and enterprise networks, support multimedia and business-critical
applications.  Nortel's technologies are designed to help
eliminate the barriers to efficiency, speed and performance by
simplifying networks and connecting people to the information they
need, when they need it.

Nortel Networks Corp., Nortel Networks Inc., and other affiliated
corporations in Canada sought insolvency protection under the
Companies' Creditors Arrangement Act in the Ontario Superior Court
of Justice (Commercial List).  Ernst & Young was appointed to
serve as monitor and foreign representative of the Canadian Nortel
Group.

The Monitor sought recognition of the CCAA Proceedings in the U.S.
by filing a bankruptcy petition under Chapter 15 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 09-10164).  Mary Caloway,
Esq., and Peter James Duhig, Esq., at Buchanan Ingersoll & Rooney
PC, in Wilmington, Delaware, serves as the Chapter 15 petitioner's
counsel.

Nortel Networks Inc. and 14 affiliates filed separate Chapter 11
petitions on January 14, 2009 (Bankr. D. Del. Case No. 09-10138).
Judge Kevin Gross presides over the case.  James L. Bromley, Esq.,
at Cleary Gottlieb Steen & Hamilton, LLP, in New York, serves as
general bankruptcy counsel; Derek C. Abbott, Esq., at Morris
Nichols Arsht & Tunnell LLP, in Wilmington, serves as Delaware
counsel.  The Chapter 11 Debtors' other professionals are Lazard
Freres & Co. LLC as financial advisors; and Epiq Bankruptcy
Solutions LLC as claims and notice agent.

Certain of Nortel's European subsidiaries also made consequential
filings for creditor protection.  The Nortel Companies related in
a press release that Nortel Networks UK Limited and certain
subsidiaries of the Nortel group incorporated in the EMEA region
have each obtained an administration order from the English High
Court of Justice under the Insolvency Act 1986.  The applications
were made by the EMEA Subsidiaries under the provisions of the
European Union's Council Regulation (EC) No. 1346/2000 on
Insolvency Proceedings and on the basis that each EMEA
Subsidiary's centre of main interests is in England.  Under the
terms of the orders, representatives of Ernst & Young LLP have
been appointed as administrators of each of the EMEA Companies and
will continue to manage the EMEA Companies and operate their
businesses under the jurisdiction of the English Court and in
accordance with the applicable provisions of the Insolvency Act.

Several entities, particularly, Nortel Government Solutions
Incorporated have material operations and are not part of the
bankruptcy proceedings.

As of September 30, 2008, Nortel Networks Corp. reported
consolidated assets of US$11.6 billion and consolidated
liabilities of US$11.8 billion.  The Nortel Companies' U.S.
businesses are primarily conducted through Nortel Networks Inc.,
which is the parent of majority of the U.S. Nortel Companies.  As
of September 30, 2008, NNI had assets of about US$9 billion and
liabilities of US$3.2 billion, which do not include NNI's
guarantee of some or all of the Nortel Companies' about
US$4.2 billion of unsecured public debt.

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


NORTEL NETWORKS: Gets Nod for Deal with Velenio Holdings
--------------------------------------------------------
Nortel Networks Inc. and its affiliated debtors obtained
permission from the U.S. Bankruptcy Court for the District of
Delaware to enter into an agreement with Velenio Holdings Ltd.

The parties' Agreement was hammered out to authorize the
assignment of Russian Telecommunications Development Corp.'s debt
under a 2004 loan agreement with NNI to Velenio.  The move came
after Velenio acquired RTDC's stake in certain operators
controlled by RTDC and Sky Link, an affiliate of Velenio.

RTDC entered into the 2004 Loan Agreement with NNI to avail of
$3.7 million to finance the supply of Code Division Multiple
Access (CDMA) equipment and to ensure additional working capital
for it and its operators.

The 2004 financing was intended to give the Debtors a foothold in
the CDMA market in Russia and be a long-term supplier to RTDC and
Sky Link.  The Debtors' effort to enter the Russian market,
however, failed and resulted in the non-payment of a large
portion of the 2004 loan.

Counsel to the Debtors, Ann Cordo, Esq., at Morris Nichols Arsht
& Tunnell LLP, in Wilmington, Delaware, says that the Debtors
have thought of pursuing a litigation on the RTDC matter, but
have determined that the likelihood of substantial recovery is
extremely low.

Under the NNI-Velenio deal, NNI expects to recover only $192,210
of the $2,901,227 outstanding balance due from RTDC as of
December 31, 2009, Ms. Cordo tells the Court.

Although the proposed recovery is a fraction of the overall
outstanding amount of the debt, the Debtors nevertheless believe
the NNI-Velenio Agreement presents the best opportunity to
maximize the value of RTDC's debt for distribution to creditors.

"Participation in the [Agreement] obviates the need for
litigation, saves the Debtors significant time and expense in the
potential litigation over the debt and avoids distracting the
Debtors' officers and employees during the[ir] chapter 11
proceedings," Ms. Cordo says in court papers.

A full-text copy of the NNI-Velenio Agreement is available for
free at http://researcharchives.com/t/s?4ed0

                       About Nortel Networks

Nortel Networks (OTCBB:NRTLQ) -- http://www.nortel.com/--
delivers communications capabilities that make the promise of
Business Made Simple a reality for the Company's customers.  The
Company's next-generation technologies, for both service provider
and enterprise networks, support multimedia and business-critical
applications.  Nortel's technologies are designed to help
eliminate the barriers to efficiency, speed and performance by
simplifying networks and connecting people to the information they
need, when they need it.

Nortel Networks Corp., Nortel Networks Inc., and other affiliated
corporations in Canada sought insolvency protection under the
Companies' Creditors Arrangement Act in the Ontario Superior Court
of Justice (Commercial List).  Ernst & Young was appointed to
serve as monitor and foreign representative of the Canadian Nortel
Group.

The Monitor sought recognition of the CCAA Proceedings in the U.S.
by filing a bankruptcy petition under Chapter 15 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 09-10164).  Mary Caloway,
Esq., and Peter James Duhig, Esq., at Buchanan Ingersoll & Rooney
PC, in Wilmington, Delaware, serves as the Chapter 15 petitioner's
counsel.

Nortel Networks Inc. and 14 affiliates filed separate Chapter 11
petitions on January 14, 2009 (Bankr. D. Del. Case No. 09-10138).
Judge Kevin Gross presides over the case.  James L. Bromley, Esq.,
at Cleary Gottlieb Steen & Hamilton, LLP, in New York, serves as
general bankruptcy counsel; Derek C. Abbott, Esq., at Morris
Nichols Arsht & Tunnell LLP, in Wilmington, serves as Delaware
counsel.  The Chapter 11 Debtors' other professionals are Lazard
Freres & Co. LLC as financial advisors; and Epiq Bankruptcy
Solutions LLC as claims and notice agent.

Certain of Nortel's European subsidiaries also made consequential
filings for creditor protection.  The Nortel Companies related in
a press release that Nortel Networks UK Limited and certain
subsidiaries of the Nortel group incorporated in the EMEA region
have each obtained an administration order from the English High
Court of Justice under the Insolvency Act 1986.  The applications
were made by the EMEA Subsidiaries under the provisions of the
European Union's Council Regulation (EC) No. 1346/2000 on
Insolvency Proceedings and on the basis that each EMEA
Subsidiary's centre of main interests is in England.  Under the
terms of the orders, representatives of Ernst & Young LLP have
been appointed as administrators of each of the EMEA Companies and
will continue to manage the EMEA Companies and operate their
businesses under the jurisdiction of the English Court and in
accordance with the applicable provisions of the Insolvency Act.

Several entities, particularly, Nortel Government Solutions
Incorporated have material operations and are not part of the
bankruptcy proceedings.

As of September 30, 2008, Nortel Networks Corp. reported
consolidated assets of US$11.6 billion and consolidated
liabilities of US$11.8 billion.  The Nortel Companies' U.S.
businesses are primarily conducted through Nortel Networks Inc.,
which is the parent of majority of the U.S. Nortel Companies.  As
of September 30, 2008, NNI had assets of about US$9 billion and
liabilities of US$3.2 billion, which do not include NNI's
guarantee of some or all of the Nortel Companies' about
US$4.2 billion of unsecured public debt.

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


NOVADEL PHARMA: Inks Common Stock Purchase Deal with Seaside 88
---------------------------------------------------------------
NovaDel Pharma Inc. entered into a Common Stock Purchase Agreement
with Seaside 88 LP whereby the Company agreed to issue and sell to
Seaside, and Seaside agreed to purchase from the Company, 500,000
shares of the Company's common stock, $0.001 par value per share,
once every two weeks for 26 closings over a 52-week period.

Under the terms of the Agreement, at the initial closing, the
offering price of the Common Stock equaled 87% of the volume
weighted average trading price of the Common Stock during the
trading day immediately prior to the initial closing date.  At
each subsequent closing, on each 14th day thereafter, the offering
price of the Company's Common Stock will equal 87% of the volume
weighted average trading price of the Common Stock for the ten-day
trading period immediately preceding each subsequent closing date.

If, with respect to any subsequent closing, the volume weighted
average trading price of the Company's Common Stock for the three
trading days immediately prior to such closing is below $0.25 per
share, then the particular subsequent closing will not occur and
the aggregate number of Shares to be purchased shall be reduced by
500,000 shares of Common Stock.

Accordingly, on February 26, 2010, the Company had its eleventh
closing of the Offering pursuant to which Seaside purchased
500,000 shares of the Company's Common Stock at a price per share
of $0.22, having an aggregate value of approximately $109,140, and
the Company received net proceeds of approximately $107,640, after
deducting commissions and $1,500 in non-accountable expenses,
pursuant to the terms of the Agreement.

                      About NovaDel Pharma

Flemington, New Jersey-based NovaDel Pharma Inc. (NYSE AMEX: NVD)
-- http://www.novadel.com/-- is a specialty pharmaceutical
company developing oral spray formulations for a broad range of
marketed drugs.  The Company's proprietary technology offers, in
comparison to conventional oral dosage forms, the potential for
faster absorption of drugs into the bloodstream leading to quicker
onset of therapeutic effects and possibly reduced first pass liver
metabolism, which may result in lower doses.  Oral sprays
eliminate the requirement for water or the need to swallow,
potentially improving patient convenience and adherence.

As of September 30, 2009, the Company had $2.27 million in total
assets against $9.67 million in total liabilities, resulting in
stockholders' deficit of $7.40 million.

The Company filed with the Securities and Exchange Commission its
Annual Report for the year ended December 31, 2008, which included
an audit opinion with a "going concern" explanatory paragraph.
The going-concern explanatory paragraph from NovaDel's independent
registered public accounting firm -- J.H. Cohn LLP in Roseland,
New Jersey -- expressed substantial doubt, based upon current
financial resources, as to whether NovaDel can continue to meet
its obligations beyond 2009 without access to additional working
capital.


NPS PHARMACEUTICALS: BlackRock Holds 7.57% of Common Stock
----------------------------------------------------------
BlackRock Inc. disclosed that as of December 31, 2009, it may be
deemed to beneficially own 3,665,494 shares or roughly 7.57% of
the common stock of NPS Pharmaceuticals Inc.

Based in Bedminster, New Jersey, NPS Pharmaceuticals Inc. (Nasdaq:
NPSP) -- http://www.npsp.com/-- is developing specialty
therapeutics company for gastrointestinal and endocrine disorders
with high unmet medical need.  The Company is currently advancing
two late-stage programs.  Teduglutide, a proprietary analog of
GLP-2, is in Phase 3 clinical development for intestinal failure
associated with short bowel syndrome as GATTEX(TM) and in
preclinical development for gastrointestinal mucositis and
necrotizing enterocolitis.

At September 30, 2009, the Company had $154,654,000 in total
assets, including $22,226,000 in cash and cash equivalents,
against $377,021,000 in total liabilities, resulting in
$222,367,000 in stockholders' deficit.


NPS PHARMACEUTICALS: Columbia Wanger Holds 8.6% of Common Stock
---------------------------------------------------------------
Columbia Wanger Asset Management, L.P., in Chicago, Illinois,
disclosed that as of December 31, 2009, it may be deemed to
beneficially own 4,163,000 shares or roughly 8.6% of the common
stock of NPS Pharmaceuticals Inc.

Based in Bedminster, New Jersey, NPS Pharmaceuticals Inc. (Nasdaq:
NPSP) -- http://www.npsp.com/-- is developing specialty
therapeutics company for gastrointestinal and endocrine disorders
with high unmet medical need.  The Company is currently advancing
two late-stage programs.  Teduglutide, a proprietary analog of
GLP-2, is in Phase 3 clinical development for intestinal failure
associated with short bowel syndrome as GATTEX(TM) and in
preclinical development for gastrointestinal mucositis and
necrotizing enterocolitis.

At September 30, 2009, the Company had $154,654,000 in total
assets, including $22,226,000 in cash and cash equivalents,
against $377,021,000 in total liabilities, resulting in
$222,367,000 in stockholders' deficit.


NPS PHARMACEUTICALS: GLG Partners Holds 5.55% of Common Stock
-------------------------------------------------------------
GLG Partners, LP, GLG Partners Limited, and GLG Partners, Inc.,
disclosed that as of December 31, 2009, they may be deemed to
beneficially own 2,689,253 shares or roughly 5.55% of the common
stock of NPS Pharmaceuticals Inc.

Based in Bedminster, New Jersey, NPS Pharmaceuticals Inc. (Nasdaq:
NPSP) -- http://www.npsp.com/-- is developing specialty
therapeutics company for gastrointestinal and endocrine disorders
with high unmet medical need.  The Company is currently advancing
two late-stage programs.  Teduglutide, a proprietary analog of
GLP-2, is in Phase 3 clinical development for intestinal failure
associated with short bowel syndrome as GATTEX(TM) and in
preclinical development for gastrointestinal mucositis and
necrotizing enterocolitis.

At September 30, 2009, the Company had $154,654,000 in total
assets, including $22,226,000 in cash and cash equivalents,
against $377,021,000 in total liabilities, resulting in
$222,367,000 in stockholders' deficit.


NPS PHARMACEUTICALS: Sells REGPARA Royalty Rights to DRI
--------------------------------------------------------
NPS Pharmaceuticals, Inc., on February 26, 2010, entered into an
Agreement for Sale and Assignment of Rights with a fund managed by
DRI Capital, Inc.  The Company sold its right to receive certain
future royalty payments arising from sales of REGPARA(R)
(cinacalcet HCl) subsequent to July 1, 2009, under its license
agreement with Kyowa Kirin Pharma, a wholly owned subsidiary of
Kyowa Kirin Holdings.

Under the Agreement, the Company received an upfront purchase
price of $38.4 million.  The Agreement also grants the Fund (i)
the right to receive certain reports relating to the Royalty
Entitlement, and (ii) certain audit rights relating to the Royalty
Entitlement.  If and when the Fund receives cumulative royalties
of $96 million or 2.5 times the upfront purchase price, the
agreement with the Fund will terminate and future royalty payments
return to the Company.

In connection with the Agreement, the Company granted the Fund a
security interest in the Kyowa Kirin License and certain of its
patents and other intellectual property underlying the Kyowa Kirin
License.  In the event of a default by the Company under the
Agreement, the Fund would be entitled to enforce its security
interest in the property.  The Agreement also contains other
representations, warranties, covenants and indemnification
obligations that are customary for a transaction of this nature.

The Company licensed cinacalcet HCl to Kyowa Kirin for the drug's
development and commercial sale in China, Japan, North and South
Korea, and Taiwan.  Following review by the Pharmaceuticals and
Medical Devices Agency, Japan's Ministry of Health, Labor and
Welfare approved the drug for the treatment of patients with
secondary hyperparathyroidism during dialysis therapy.  Kyowa
Kirin began commercializing cinacalcet HCl in Japan as REGPARA(R)
during the first quarter of 2008.

Under the agreement, DRI Capital is entitled to receive royalty
payments related to net sales of REGPARA occurring on or after
July 1, 2009.  NPS has received $3.5 million in cumulative royalty
revenue on net sales of REGPARA arising prior to July 1, 2009.
NPS expects to report cash, cash equivalents and short- and long-
term investments of $70 million to $75 million at December 31,
2009, versus $106 million at December 31, 2008.

In July 2007, NPS entered into an agreement with DRI Capital under
which the Company sold certain of its rights to receive future
royalty payments arising from sales of Preotact(R) (full-length
parathyroid hormone [PTH 1-84]) under a license agreement with
Nycomed.  The Company received an upfront purchase price of
$50 million with an additional $25 million payable in 2010 if
Preotact sales in 2009 exceeded defined thresholds.  On
January 19, 2010, the Company received the actual 2009 sales of
Preotact by Nycomed and concluded that the sales did not exceed
the thresholds defined in the agreement; therefore, the Company
was not entitled to receive the additional milestone payment.
Once DRI receives royalties representing two and a half times the
$50 million purchase price, the agreement with DRI will terminate
and future royalty payments return to the Company.

The Company developed Preotact and licensed Nycomed marketing
rights for non-U.S. territories, excluding Japan and Israel.
Preotact is approved by the European Medicines Agency for the
treatment of osteoporosis in post-menopausal women at high risk of
fractures.

In a regulatory filing in January, the Company said that based on
management's preliminary review of its unaudited financial
results, the Company expects to report cash, cash equivalents and
short- and long-term investments of $70 million to $75 million at
December 31, 2009 versus $106 million at December 31, 2008.  In
addition, the Company expects to report net cash burn for 2009 of
$40 million to $43 million versus guidance of $43 million to
$50 million.

The Company is expected to report its full 2009 financial results
and 2010 net cash burn guidance this month.

                         About DRI Capital

DRI Capital Inc. -- http://www.dricapital.com/-- is a privately
held investment management company focused on the healthcare
industry.  DRI currently has more than $1.2 billion of funds under
management and through its managed funds, is a leader in acquiring
royalties from pharmaceutical and biotechnology companies as well
as from research institutions, universities, and inventors.

                     About NPS Pharmaceuticals

Based in Bedminster, New Jersey, NPS Pharmaceuticals Inc. (Nasdaq:
NPSP) -- http://www.npsp.com/-- is developing specialty
therapeutics company for gastrointestinal and endocrine disorders
with high unmet medical need.  The Company is currently advancing
two late-stage programs.  Teduglutide, a proprietary analog of
GLP-2, is in Phase 3 clinical development for intestinal failure
associated with short bowel syndrome as GATTEX(TM) and in
preclinical development for gastrointestinal mucositis and
necrotizing enterocolitis.

At September 30, 2009, the Company had $154,654,000 in total
assets, including $22,226,000 in cash and cash equivalents,
against $377,021,000 in total liabilities, resulting in
$222,367,000 in stockholders' deficit.


NYC OFF-TRACK: No Decision Yet on Eligibility for Chapter 9
-----------------------------------------------------------
The U.S. Bankruptcy Court for the Southern of New York has not yet
entered a ruling on whether New York City Off-Track Betting Corp.
is eligible for municipal reorganization under Chapter 9.  The
bankruptcy judge held a hearing on February 22 but said he'll rule
later.

Bill Rochelle at Bloomberg News reported that although NYC OTB is
a public benefit corporation, the New York Racing Association Inc.
argued that it's ineligible for Chapter 9 because the filing
lacked specific authorization from the state legislature required
by bankruptcy law.

                       Chapter 9 Bankruptcy

NYC OTB filed for bankruptcy under Chapter 9 of the Bankruptcy
Code on December 3, 2009 (Bankr. S.D.N.Y. Case No. 09-17121).
Richard Levin, Esq., at Cravath, Swaine & Moore LLP, in New York,
serves as the Debtor's counsel.

At September 30, 2009, NYC OTB had $18,468,147 in total assets
against $74,912,742 in total current liabilities, $6,982,887 in
long-term liabilities, and $201,020,000 in long-term post
employment benefits.

Raymond Casey, President and Chief Executive Officer of NYC OTB,
said in court papers that over time, higher mandatory
distributions required by the State Legislature, combined with
increases in the cost of operating in New York City, left NYC OTB
with no residual income to turn over to the City.  NYC OTB laid
off 17% of its management, closed underperforming branches,
reduced employees' overtime hours, surrendered a quarter of its
headquarters space, reduced supply purchases, decreased security
expenses and reduced energy costs -- resulting in nearly
$45 million of savings during the five-year period through the end
of the 2008 fiscal year.  While making the difficult decisions
needed to reduce operational costs, NYC OTB also launched a
campaign seeking to have the State Legislature rationalize the
flawed and burdensome legislative distribution scheme.


OCCUPATIONAL & MEDICAL: Seeks Recognition of Aussie Proceedings
---------------------------------------------------------------
Occupational & Medical Innovations Ltd. filed a Chapter 15
petition in Tyler, Texas (Bankr. E.D. Tex. Case No. 10-60181).
It said assets are less than $10 million while debt exceeds $100
million.

Occupational & Medical is an Australia-based developer of safety
products for the health-care industry.

OMI is undergoing insolvency proceedings in Australia.  It is
seeking from the U.S. Bankruptcy Court recognition of the
Australian proceedings as a foreign main proceeding under Chapter
15 of the Bankruptcy Code.  A hearing on the request is scheduled
for March 18.

Chapter 15 allows a non-U.S. debtor to seek a stay of creditor
actions against it in the U.S. while it reorganizes abroad.

OMI had been embroiled in litigation before the U.S. District
Court, Eastern District of Texas, Tyler Division, involving
alleged patent infringement by OMI of Retractable Technologies,
Inc. patent involving retractable syringes.  A trial was had on
December 14 through 17th, 2009, with a jury verdict in favor of
RTI being rendered on December 18, 2009.  Currently pending before
the district court is a motion for permanent injunction by RTI and
a motion for judgment as a matter of law by OMI.

As to the Australian proceedings, on February 19, 2010, OMI's
administrators received a "Proposal for a Deed of Company
Arrangement from AssistMed (Australia) Pty. Ltd."  In it,
AssistMed Pty., Ltd., proposes to take a 51% equity stake in OMI
in exchange for payment of all secured creditors, employee
entitlements, and costs of administration.  Unsecured creditors
will receive either payment or stock in the recapitalized company.
The administrators will schedule a second meeting of creditors to
obtain approvals for the arrangement in the next couple of weeks,
and anticipate that some time in early April the arrangement will
be approved.  The administrators believe that this arrangement
will likely be approved by the creditors.


OSHKOSH CORP: S&P Raises Issue-Level Rating on Securities to 'BB'
-----------------------------------------------------------------
Standard & Poor's Ratings Services revised its recovery rating on
Oshkosh Corp.'s senior secured debt issues to '1', indicating its
expectation of very high (90%-100%) recovery for lenders in a
payment default scenario, from '2'.  In addition, S&P raised its
issue-level rating on these securities to 'BB' (two notches higher
than the 'B+' corporate credit rating) from 'BB-', in accordance
with S&P's notching criteria for a '1' recovery rating.  S&P also
removed the issue-level ratings on Oshkosh's senior secured debt
issues from CreditWatch, where S&P placed them with positive
implications on Feb. 23, 2010.

"The rating actions, which S&P previously discussed in its
Feb. 23, 2010, reflect the company's completed $500 million senior
unsecured notes offering," said Standard & Poor credit analyst Dan
Picciotto.  "Oshkosh has used the proceeds to repay a portion of
outstanding term loan borrowings," he continued.

                           Ratings List

                           Oshkosh Corp.

          Corp. credit rating            B+/Positive/--

                     Ratings Raised, Off Watch

                          Senior secured

                                                To  From
                                                --  ----
$550 mil. revolving crdt fac bank ln due 2011  BB  BB-/Watch Pos
  Recovery rating                               1   2
$2.6 bil. term loan B bank ln due 2013         BB  BB-/Watch Pos
  Recovery rating                               1   2


OVB LLC: Case Summary & 4 Largest Unsecured Creditors
-----------------------------------------------------
Debtor: OVB, LLC
        285 Olmsted Boulevard, Suite 7
        Pinehurst, NC 28374

Bankruptcy Case No.: 10-80379

Chapter 11 Petition Date: March 3, 2010

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

Debtor's Counsel: Gregory Byrd Crampton, Esq.
                  3700 Glenwood Ave., Ste. 500
                  Raleigh, NC 27612
                  Tel: (919) 781-1311
                  Fax: (919)782-0465
                  Email: gcrampton@nichollscrampton.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
4 largest unsecured creditors, is available for free at:

             http://bankrupt.com/misc/ncmb10-80379.pdf

The petition was signed by Marty R. McKenzie, manager/member of
the Company.


OXFORD SQUARE: Case Summary & 14 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Oxford Square, Ltd.
        P.O. Box 273760
        Boca Raton, FL 33427

Bankruptcy Case No.: 10-15391

Chapter 11 Petition Date: March 3, 2010

Court: United States Bankruptcy Court
       Southern District of Florida (West Palm Beach)

Judge: Erik P. Kimball

Debtor's Counsel: Bradley S. Shraiberg, Esq.
                  2385 NW Executive Center Dr. #300
                  Boca Raton, FL 33431
                  Tel: (561) 443-0801
                  Fax: (561) 998-0047
                  Email: bshraiberg@sfl-pa.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
14 largest unsecured creditors, is available for free at:

             http://bankrupt.com/misc/flsb10-15391.pdf

The petition was signed by HHH Oxford GP, Inc., general partner of
the Company.


PALM INC: S&P Affirms Corporate Credit Rating at 'CCC+'
-------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'CCC+'
corporate credit rating and other ratings on Sunnyvale,
California-based cellphone supplier Palm Inc. and revised the
ratings outlook to negative from positive.

"The action reflects the company's announcement that revenues in
the February 2010 quarter and fiscal year ending May 2010 will be
well below earlier expectations," said Standard & Poor's credit
analyst Bruce Hyman.


PARK LANE ASSOCIATES: Case Summary & 20 Largest Unsec. Creditors
----------------------------------------------------------------
Debtor: Park Lane Associates, LTD
          aka Huron Place Apartments
        118 King Street, Suite 200
        Alexandria, VA 22314

Bankruptcy Case No.: 10-11508

Chapter 11 Petition Date: March 2, 2010

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

Judge: Stephen S. Mitchell

Debtor's Counsel: Stanley M. Salus, Esq.
                  Akerman Senterfitt LLP
                  8100 Boone Blvd., #700
                  Vienna, VA 22182
                  Tel: (703) 790-8750
                  Fax: (703) 448-1767
                  Email: stan.salus@akerman.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/vaeb10-11508.pdf

The petition was signed by Joseph E. Resende.


PARMALAT SPA: Prosecutors Want Stiffer Sentence for Tanzi
---------------------------------------------------------
Prosecutors for the Italian government have asked on February 10,
2010, for a stiffer sentence for Parmalat's founder and former
chief executive officer, Calisto Tanzi, the Agence France Presse
reports.

Mr. Tanzi was sentenced to 10 years in prison for securities-laws
violations, leading to Parmalat's collapse in 2003.  He is
currently appealing that conviction.  AFP reports that the
prosecutors told the appeal court that the term should be
increased to 11 years and one month.

Prosecutor Elena Maria Visconti has argued that Mr. Tanzi was the
"main actor (and) beneficiary" in the Parmalat fraud scandal, AFP
says, citing Italian news agencies as source.  The report also
says that the prosecutors also sought jail terms of between three
and five years for six other defendants that include three
officials of the Bank of America, who were acquitted by the lower
court.

                   About Parmalat S.p.A.

Headquartered in Milan, Italy, Parmalat S.p.A. --
http://www.parmalat.net/-- sells nameplate milk products
that can be stored at room temperature for months.  It also has
about 40 brand product lines, which include yogurt, cheese,
butter, cakes and cookies, breads, pizza, snack foods and
vegetable sauces, soups and juices.

The Company's U.S. operations filed for Chapter 11 protection on
February 24, 2004 (Bankr. S.D.N.Y. Case No. 04-11139).  Gary
Holtzer, Esq., and Marcia L. Goldstein, Esq., at Weil Gotshal &
Manges LLP, represent the Debtors.  When the U.S. Debtors filed
for bankruptcy protection, they reported more than US$200 million
in assets and debts.  The U.S. Debtors emerged from bankruptcy on
April 13, 2005.

Parmalat S.p.A. and its Italian affiliates filed separate
petitions for Extraordinary Administration before the Italian
Ministry of Productive Activities and the Civil and Criminal
District Court of the City of Parma, Italy on December 24, 2003.
Dr. Enrico Bondi was appointed Extraordinary Commissioner in
each of the cases.  The Parma Court has declared the units
insolvent.

On June 22, 2004, Dr. Bondi filed a Sec. 304 Petition, Case No.
04-14268, in the United States Bankruptcy Court for the Southern
District of New York.

Parmalat has three financing arms: Dairy Holdings Ltd., Parmalat
Capital Finance Ltd., and Food Holdings Ltd.  Dairy Holdings and
Food Holdings are Cayman Island special-purpose vehicles
established by Parmalat S.p.A.  The Finance Companies are under
separate winding up petitions before the Grand Court of the Cayman
Islands.  Gordon I. MacRae and James Cleaver of Kroll (Cayman)
Ltd. serve as Joint Provisional Liquidators in the cases.  On
January 20, 2004, the Liquidators filed Sec. 304 petition, Case
No. 04-10362, in the United States Bankruptcy Court for the
Southern District of New York.  In May 2006, the Cayman Island
Court appointed Messrs. MacRae and Cleaver as Joint Official
Liquidators.  Gregory M. Petrick, Esq., at Cadwalader, Wickersham
& Taft LLP, and Richard I. Janvey, Esq., at Janvey, Gordon,
Herlands Randolph, represent the Finance Companies in the Sec. 304
case.

The Honorable Robert D. Drain presided over the Parmalat Debtors'
U.S. cases.  On June 21, 2007, the U.S. Court granted Parmalat
permanent injunction.


PARMALAT SPA: Settles EUR1 Bil. PCF Claims
------------------------------------------
Parmalat has settled over one billion euros in claims made
against it by Parmalat Capital Finance (presently in liquidation
in the Cayman Islands).  Pursuant to the terms of the settlement,
Parmalat will allocate 5.6 million shares of stock already issued
to PCF and currently frozen by order of the Parma court.  Parmalat
will also issue 12.4 million new shares of stock to PCF and
release claims it had asserted against PCF in the Cayman Islands.

PCF will, in turn, release all of its claims against Parmalat and
assign to Parmalat its rights in a $45 million debt from Parmalat
de Venezuela, together with certain other claims.

The assignment of the Parmalat de Venezuela debt means that
Parmalat now owns all debt and equity interests in Parmalat de
Venezuela.

The settlement is subject to approval by the Cayman Court
supervising the liquidation of PCF.

                   About Parmalat S.p.A.

Headquartered in Milan, Italy, Parmalat S.p.A. --
http://www.parmalat.net/-- sells nameplate milk products
that can be stored at room temperature for months.  It also has
about 40 brand product lines, which include yogurt, cheese,
butter, cakes and cookies, breads, pizza, snack foods and
vegetable sauces, soups and juices.

The Company's U.S. operations filed for Chapter 11 protection on
February 24, 2004 (Bankr. S.D.N.Y. Case No. 04-11139).  Gary
Holtzer, Esq., and Marcia L. Goldstein, Esq., at Weil Gotshal &
Manges LLP, represent the Debtors.  When the U.S. Debtors filed
for bankruptcy protection, they reported more than US$200 million
in assets and debts.  The U.S. Debtors emerged from bankruptcy on
April 13, 2005.

Parmalat S.p.A. and its Italian affiliates filed separate
petitions for Extraordinary Administration before the Italian
Ministry of Productive Activities and the Civil and Criminal
District Court of the City of Parma, Italy on December 24, 2003.
Dr. Enrico Bondi was appointed Extraordinary Commissioner in
each of the cases.  The Parma Court has declared the units
insolvent.

On June 22, 2004, Dr. Bondi filed a Sec. 304 Petition, Case No.
04-14268, in the United States Bankruptcy Court for the Southern
District of New York.

Parmalat has three financing arms: Dairy Holdings Ltd., Parmalat
Capital Finance Ltd., and Food Holdings Ltd.  Dairy Holdings and
Food Holdings are Cayman Island special-purpose vehicles
established by Parmalat S.p.A.  The Finance Companies are under
separate winding up petitions before the Grand Court of the Cayman
Islands.  Gordon I. MacRae and James Cleaver of Kroll (Cayman)
Ltd. serve as Joint Provisional Liquidators in the cases.  On
January 20, 2004, the Liquidators filed Sec. 304 petition, Case
No. 04-10362, in the United States Bankruptcy Court for the
Southern District of New York.  In May 2006, the Cayman Island
Court appointed Messrs. MacRae and Cleaver as Joint Official
Liquidators.  Gregory M. Petrick, Esq., at Cadwalader, Wickersham
& Taft LLP, and Richard I. Janvey, Esq., at Janvey, Gordon,
Herlands Randolph, represent the Finance Companies in the Sec. 304
case.

The Honorable Robert D. Drain presided over the Parmalat Debtors'
U.S. cases.  On June 21, 2007, the U.S. Court granted Parmalat
permanent injunction.


PARMALAT SPA: Creditors Convert Warrants for 107,277 Shares
-----------------------------------------------------------
Parmalat S.p.A. said February 24 that, following the allocation of
shares to creditors of the Parmalat Group, the subscribed and
fully paid up share capital has now been increased by 12,985,810
euros to 1,727,300,338 euros from 1,714,314,528 euros.  The share
capital increase is due to the exercise of 107,277 warrant and to
the allocation of 12,878,533 shares.

    [The latest status of the share allotment is]:

    -- 35,726,611 shares representing approximately 2.1% of the
       share capital are still in a deposit account c/o Parmalat
       S.p.A., of which:

       * 25,295,947 or 1.5% of the share capital, registered in
         the name of individually identified commercial
         creditors, are still deposited in the intermediary
         account of Parmalat S.p.A. centrally managed by Monte
         Titoli (compared with 12,897,953 shares as at
         January 29, 2010);

       * 10,430,664 or 0.6% of the share capital registered in
         the name of the Foundation -- Fondazione Creditori
         Parmalat -- of which:

          (i) 120,000 shares representing the initial share
              capital of Parmalat S.p.A. (unchanged);

         (ii) 10,310,664 or 0.6% of the share capital that
              pertain to currently undisclosed creditors
              (compared with 10,499,597 shares as at January 29,
              2010).

At January 29, Parmalat S.p.A. said that following the allocation
of shares to creditors of the Parmalat Group, the subscribed and
fully paid up share capital has now been increased by 1,674,665
euros to 1,714,314,528 euros from 1,712,558,142 euros.

                   About Parmalat S.p.A.

Headquartered in Milan, Italy, Parmalat S.p.A. --
http://www.parmalat.net/-- sells nameplate milk products
that can be stored at room temperature for months.  It also has
about 40 brand product lines, which include yogurt, cheese,
butter, cakes and cookies, breads, pizza, snack foods and
vegetable sauces, soups and juices.

The Company's U.S. operations filed for Chapter 11 protection on
February 24, 2004 (Bankr. S.D.N.Y. Case No. 04-11139).  Gary
Holtzer, Esq., and Marcia L. Goldstein, Esq., at Weil Gotshal &
Manges LLP, represent the Debtors.  When the U.S. Debtors filed
for bankruptcy protection, they reported more than US$200 million
in assets and debts.  The U.S. Debtors emerged from bankruptcy on
April 13, 2005.

Parmalat S.p.A. and its Italian affiliates filed separate
petitions for Extraordinary Administration before the Italian
Ministry of Productive Activities and the Civil and Criminal
District Court of the City of Parma, Italy on December 24, 2003.
Dr. Enrico Bondi was appointed Extraordinary Commissioner in
each of the cases.  The Parma Court has declared the units
insolvent.

On June 22, 2004, Dr. Bondi filed a Sec. 304 Petition, Case No.
04-14268, in the United States Bankruptcy Court for the Southern
District of New York.

Parmalat has three financing arms: Dairy Holdings Ltd., Parmalat
Capital Finance Ltd., and Food Holdings Ltd.  Dairy Holdings and
Food Holdings are Cayman Island special-purpose vehicles
established by Parmalat S.p.A.  The Finance Companies are under
separate winding up petitions before the Grand Court of the Cayman
Islands.  Gordon I. MacRae and James Cleaver of Kroll (Cayman)
Ltd. serve as Joint Provisional Liquidators in the cases.  On
January 20, 2004, the Liquidators filed Sec. 304 petition, Case
No. 04-10362, in the United States Bankruptcy Court for the
Southern District of New York.  In May 2006, the Cayman Island
Court appointed Messrs. MacRae and Cleaver as Joint Official
Liquidators.  Gregory M. Petrick, Esq., at Cadwalader, Wickersham
& Taft LLP, and Richard I. Janvey, Esq., at Janvey, Gordon,
Herlands Randolph, represent the Finance Companies in the Sec. 304
case.

The Honorable Robert D. Drain presided over the Parmalat Debtors'
U.S. cases.  On June 21, 2007, the U.S. Court granted Parmalat
permanent injunction.


PHILADELPHIA NEWSPAPERS: Lenders Want Auction Suspended
-------------------------------------------------------
Bill Rochelle at Bloomberg News reports that secured lenders to
Philadelphia Newspapers LLC are asking the U.S. Court of Appeals
for the Third Circuit in Philadelphia to stop the bankruptcy court
from scheduling an auction until the appeals court issues a ruling
on the credit-bidding appeal.

According to the report, the lenders said in a letter to the
Appeals Court that they have learned that Philadelphia Newspapers
wants the bankruptcy judge to schedule an auction in April.
Although the stay of the auction ended at oral argument in
December, the lenders contend the bankruptcy court is
automatically precluded from scheduling an auction because the
issue is on appeal.

The Company is contemplating on selling its business to a group of
local investors, including Bruce E. Toll, absent higher and better
bids for the assets.  The investor group Philly Papers LLC is
offering $30 million cash plus a combination of payment of certain
expenses and assumption of liabilities that will yield gross
proceeds to the estates of $41 million.

The Debtor opposed a credit bid by lenders owed more than
$400 million, saying that it would have a "chilling effect" on
competing bidders.  A credit bid would easily top the offer by Mr.
Toll.

Philadelphia Newspapers took an appeal to the District Court from
the Bankruptcy Court's ruling that gives secured lenders the right
to use the $300 million in debt they are owed as part of their bid
to acquire the Company.

Lawyers for Philadelphia Newspapers wrote a letter to the
bankruptcy judge on Feb. 26 saying that delay by the Court of
Appeals in ruling on an appeal is a "threat to the debtors'
ability to reorganize."  Philadelphia Newspapers asked the
bankruptcy judge to hold a status conference "at the court's
earliest convenience" to set up a schedule allowing an emergence
from bankruptcy by the end of May.

The Court of Appeals heard December 15 arguments by Philadelphia
Newspapers that the district court was correct in reversing the
bankruptcy court and precluding secured lenders from bidding their
claims rather than cash at an auction for the business.
Philadelphia Newspapers obtained from the Court of Appeals a stay
of the auction pending their appeal.  Absent action by the appeals
court, the auction would have been held Nov. 25.

In an opinion entered November 10, 2009, District Judge Eduardo C.
Robreno reversed the October 8 ruling by the Bankruptcy Court.  As
a result, Philadelphia Newspapers can hold an auction where the
secured lenders must bid cash and cannot submit a credit bid if
intends to participate in the auction.

                        The Chapter 11 Plan

Philadelphia Newspapers LLC is scheduled to present its Chapter 11
reorganization plan for confirmation at hearings scheduled to
begin December 4, 2009.

Philadelphia Newspapers has already obtained approval of the
disclosure statement explaining the Plan and are now soliciting
votes on the Plan.

The Plan is based upon a sale of all of the Debtors' business to
Bruce E. Toll-led Philly Papers LLC, subject to higher and better
offers.  According to the disclosure statement explaining the
Plan, with the sale of the Debtors' business to Bruce Toll,
holders of secured claims, including $66 million, senior secured
claims, will recover 100 cents on the dollar.  Holders of
$350 million prepetition unsecured debt claims will recover less
than 1% of their claims.  Holders of prepetition unsecured trade
claims will recover up to 6%.  The Plan allocates $750,000
liquidating trust in favor of general unsecured trade creditors
and a 3% distribution of equity interests in Philly Papers to
holders of unsecured prepetition claims other than general trade
creditors.

A copy of the Debtors' Disclosure Statement is available for free
at http://bankrupt.com/misc/PhillyNews_DiscStatement.pdf

A copy of the Debtors' Insider Chapter 11 Plan is available for
free at http://bankrupt.com/misc/PhillyNews_Ch11Plan.pdf

                   About Philadelphia Newspapers

Philadelphia Newspapers -- http://www.philly.com/-- owns and
operates numerous print and online publications in the
Philadelphia market, including the Philadelphia Inquirer, the
Philadelphia Daily News, several community newspapers, the
region's number one local Web site, philly.com, and a number of
related online products. The Company's flagship publications are
the Inquirer, the third oldest newspaper in the country and the
winner of numerous Pulitzer Prizes and other journalistic
recognitions, and the Daily News.

Philadelphia Newspapers and its debtor-affiliates filed for
Chapter 11 bankruptcy protection on February 22, 2008 (Bankr. E.D.
Pa. Case No. 09-11204).  Mark K. Thomas, Esq., and Paul V.
Possinger, Esq., at PROSKAUER ROSE LLP in Chicago, Illinois; and
Lawrence G. McMichael, Esq., Christie Callahan Comerford, Esq.,
and Anne M. Aaronson, Esq., at DILWORTH PAXSON LLP, in
Philadelphia, Pennsylvania, serve as bankruptcy counsel.  The
Debtors' financial advisor is Jefferies & Company Inc.  The Garden
City Group, Inc., serves as claims and notice agent.

Ben Logan, Esq., at O'MELVENY & MYERS LLP in Los Angeles,
California; and Gary Schildhorn, Esq., at ECKERT SEAMANS CHERIN &
MELLOTT, LLC in Philadelphia, represent the Official Committee of
Unsecured Creditors.  Fred S. Hodara, Esq., Abid Qureshi, Esq.,
and Alexis Freeman, Esq., at AKIN GUMP STRAUSS HAUER & FELD LLP in
New York, represent the Steering Group of Prepetition Secured
Lenders.

Philadelphia Newspapers listed assets and debts of $100 million to
$500 million in its bankruptcy petition.


QUANTUM CORP: S&P Changes Outlook to Positive; Affirms 'B-' Rating
------------------------------------------------------------------
Standard & Poor's Ratings Services said it revised its outlook on
San Jose, California-based storage solutions company Quantum Corp.
to positive from negative.  S&P also affirmed all its ratings on
Quantum, including its 'B-' corporate credit rating.

"The outlook revision is based on the strength of recent operating
trends, the prospect for stability despite the loss of EMC license
revenue, and solid headroom under performance covenants in the
company's bank loan agreements," said Standard & Poor's credit
analyst Lucy Patricola.


REGENT COMMUNICATIONS: Committee Organizational Meeting March 10
----------------------------------------------------------------
Roberta A. DeAngelis, Acting United States Trustee for Region 3,
will hold an organizational meeting on March 10, 2009, at
10:00 a.m. in the bankruptcy case of Regent Communications, Inc.,
et al.  The meeting will be held at J. Caleb Boggs Federal
Building, 844 King Street, Room 5209, Wilmington, DE 19801.

The sole purpose of the meeting will be to form a committee or
committees of unsecured creditors in the Debtors' cases.

The organizational meeting is not the meeting of creditors
pursuant to Section 341 of the Bankruptcy Code.  A representative
of the Debtor, however, may attend the Organizational Meeting, and
provide background information regarding the bankruptcy cases.

To increase participation in the Chapter 11 proceeding, Section
1102 of the Bankruptcy Code requires that the United States
Trustee appoint a committee of unsecured creditors as soon as
practicable.  The Committee ordinarily consists of the persons,
willing to serve, that hold the seven largest unsecured claims
against the debtor of the kinds represented on the committee.
Section 1103 of the Bankruptcy Code provides that the Committee
may consult with the debtor, investigate the debtor and its
business operations and participate in the formulation of a plan
of reorganization.  The Committee may also perform other services
as are in the interests of the unsecured creditors whom it
represents.

                   About Regent Communications

Cincinnati, Ohio-based Regent Communications, Inc., is a radio
broadcasting company focused on acquiring, developing and
operating radio stations in mid-sized markets.  Regent owns and
operates 62 stations located in 13 markets.  The Company's shares
are traded over the counter under the symbol "RGCI.PK".

The Company filed for Chapter 11 bankruptcy protection on March 1,
2010 (Bankr. D. Delaware Case No. 10-10632).  Michael R. Nestor,
Esq., at Young Conaway Stargatt & Taylor, assists the Company in
its restructuring effort.  As of January 31, 2010, the Company had
total assets of $166,506,000, and total debts of $211,282,000.


RENEW PAPER: Files for Bankruptcy Protection to Sell Assets
-----------------------------------------------------------
The Associated Press reports that Renew Paper owned by West
Feliciana Acquisition LLC filed for bankruptcy protection to be
sold by April 2010.  A hearing is set for April 9, 2010, to review
the bids.  Renew Paper operates a paper mill.


ROBERT DAY: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------
Joint Debtors: Robert P. Day
               Ann Marie Day
                 aka Andie Day
               301 Newbury Street, #222
               Danvers, MA 01923

Bankruptcy Case No.: 10-12209

Chapter 11 Petition Date: March 3, 2010

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

Judge: Henry J. Boroff

Debtors' Counsel: Stefan E. Cencarik, Esq.
                  Grantham Cencarik, P.C.
                  271 Cambridge Street, Suite 203
                  Cambridge, MA 02141
                  Tel: (617) 497-7141
                  Fax: (617) 497-7140
                  Email: sec@boston-legal.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 $1,420,100
and total debts of $1,789,810.

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/mab10-12209.pdf

The petition was signed by the Joint Debtors.


ROBERT GONZALEZ: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Joint Debtors: Robert Gonzalez
               Kattie Phoong
               40693 Symphony Park Lane
               Murrieta, CA 92562

Bankruptcy Case No.: 10-15767

Chapter 11 Petition Date: March 2, 2010

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

Judge: Thomas B. Donovan

Debtors' Counsel: Mark D. Potter, Esq.
                  Potter Handy LLP
                  100 E San Marcos Blvd, Ste 400
                  San Marcos, CA 92069
                  Tel: (760) 480-4162
                  Fax: (760) 480-4170
                  Email: mark@potterhandy.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 20 largest unsecured creditors, is available for free at:

                http://bankrupt.com/misc/cacb10-15767.pdf

The petition was signed by the Joint Debtors.


RQB RESORT: Wins Court Approval to Use Cash
-------------------------------------------
Bloomberg News reports that RQB Resort LP won court approval to
use cash that was earmarked as collateral under a loan agreement
with Goldman Sachs Mortgage Co.  U.S. Bankruptcy Judge Paul Glenn
approved the use of cash after granting Goldman Sachs a
replacement lien on all post-bankruptcy accounts receivable.

Goldman Sachs Commercial Mortgage Capital LP helped finance the
$220.5 million purchase by RQB of Sawgrass Marriott Resort.  New
York-based Goldman Sachs, owed about $192.5 million as of Jan. 10,
hasn't been paid since August.

                         About RQB Resort

RQB Resort LP, together with affiliate RQB Development, filed for
Chapter 11 protection in Jacksonville Florida (Bankr. M.D. Fla.
Case No. 10-01596).

The RQB entities own Florida's Sawgrass Marriott Resort, the site
of the U.S. PGA Tour's Tournament Players Championship.  The 508-
room hotel resort has rights to 85% of starting times each day to
the Players Stadium Course through 2089.  The course was ranked
ninth on Golf Digest's list of America's 100 Greatest Public
Courses for 2009-2010.  RQB Resort is the owner of the hotel and
cabana club. RQB Development is the owner of the golf villas, the
spa and related development rights.  According to Bloomberg News,
the resort is the home of the TPC Sawgrass golf club where Tiger
Woods apologized on Feb. 19 for his marital infidelity.

RQB Resort listed assets and debt of $100 million to $500 million.
RQB sought creditor protection after failing to agree to a
restructuring deal with Goldman Sachs on a $193 million loan.

Cynthia C. Jackson, Esq., at Smith Hulsey & Busey, represents the
Debtor in its Chapter 11 effort.


SELKIRK COGEN: Moody's Downgrades Senior Rating to 'Ba2'
--------------------------------------------------------
Moody's Investors Service downgraded Selkirk Cogen Funding
Corporation's Ba1 senior secured rating to Ba2 and revised the
outlook to stable from negative.

The rating action reflects Selkirk's forecasted debt service
coverage ratio between 1.1 to 1.2 times, which is significantly
lower than Selkirk's earlier forecast of near 1.4 times.  For the
last twelve months ended September 2009, Selkirk had DSCR of 1.22
times.  While these DSCR remain low for the rating and are
commensurate with a "B' category under Moody's Power Generation
rating methodology, Moody's has also taken into consideration the
1.35 times DSCR for dividend distributions and the additional two
years of contract cash flow after bond maturity which provides
additional financial flexibility especially compared to the
remaining bond term.

The Ba2 rating also incorporates Selkirk's $45 million working
capital facility and Selkirk's ability to manage potential
incremental collateral requirements tied to rating triggers under
Selkirk's fuel supply and transportation agreements.  As of
September 2009, letters of credit utilized from the working
capital facility remain unchanged since 2008 at $17.8 million.

Additionally, Moody's recognizes that the steam host has continued
operations and Moody's has also considered the June 2012 bond
maturity against SABIC's requirement to provide a two-year notice
to terminate the steam contract if SABIC's manufacturing plant no
longer requires steam.  While the termination of the steam offtake
agreement could affect Selkirk's status as a 'qualified facility'
under PURPA and affect payments under the ConEd PPA, the two-year
notice requirement minimizes Selkirk's bondholders exposure to a
steam host termination event.

The stable outlook reflects the expectation that Selkirk will
maintain DSCR between 1.1 to 1.2 times and maintain strong
operational performance.

Selkirk owns a 345 natural gas-fired cogeneration facility in
Bethlehem, New York.  The project has long-term contracts for the
sale of electric capacity and energy produced by the facility with
ConEd and steam produced by the facility with SABIC Innovative
Plastics (SABIC Plastics).  Selkirk is owned by a group of
investors and is managed by Cogentrix.

The last rating action on Selkirk occurred on February 6, 2009,
when the Project's senior secured rating were downgraded to Ba1
with a negative outlook.


SENSATA TECH: Launches Cash Tender Offer to Buy Senior Notes
------------------------------------------------------------
Sensata Technologies B.V. commenced a cash tender offer to
purchase the maximum aggregate principal amount of its 8% Senior
Notes due 2014, its 9% Senior Subordinated Notes due 2016 and its
11.25% Senior Subordinated Notes due 2014 that it can purchase for
$350,000,000 at a purchase price per $1,000 principal amount with
respect to the Dollar Notes and per EUR1,000 with respect to the
Euro Notes determined in accordance with a modified Dutch auction
procedure on the terms and conditions set forth in the Offer to
Purchase dated February 26, 2010.

The Tender Offer will be subject to satisfaction or waiver of
certain conditions, including Sensata's ultimate parent company,
which is currently undertaking a financing transaction, having
received sufficient net proceeds to make the payments contemplated
by the Tender Offer.

The total consideration payable pursuant to the Tender Offer per
$1,000 principal amount of Dollar Notes or EUR1,000 principal
amount of Euro Notes validly tendered and accepted for purchase by
Sensata will be determined based on a formula consisting of a base
price plus a clearing premium.  The base price will be equal to:

   * $900.00 for the Dollar Notes;

   * EUR875.00 for the 9% Notes; and

   * EUR956.25 for the 11.25% Notes.

The clearing premium will be determined by consideration of the
"bid price" specified by each holder that tenders Notes into the
Tender Offer, which represents the minimum consideration such
holder is willing to receive for those Notes.

The clearing premium applicable to Notes of all series will be the
lowest single premium at which Sensata will be able to spend the
Maximum Payment Amount by accepting all validly tendered Notes
with bid premiums equal to or lower than the clearing premium.  If
the aggregate amount of Notes validly tendered at or below the
clearing premium would cause Sensata to spend more than the
Maximum Payment Amount, then holders of the Notes tendered at the
clearing premium will be subject to proration as described in the
Offer to Purchase.

              Provisions Subject to the Tender Offer

Sensata will pay accrued and unpaid interest on all Notes tendered
and accepted for payment in the Tender Offer from the last
interest payment date to, but not including, the date on which the
Notes are purchased.

Each holder of Notes who validly tenders his or her Notes on or
prior to 5:00 P.M., New York City time, on March 11, 2010, unless
such time and date is extended by Sensata, will receive an early
participation payment of $30.00 per $1,000 principal amount of
Dollar Notes or EUR30.00 for each EUR1,000 principal amount of
Euro Notes in the Tender Offer.  Holders tendering their Notes in
the Tender Offer after the Early Participation Date will not be
eligible to receive the Early Participation Payment.

The Tender Offer is scheduled to expire at 11:59 P.M., New York
City time, on March 25, 2010, unless such time and date is
extended or earlier terminated by Sensata.

Tendered Notes may be withdrawn at any time on or prior to 5:00
P.M., New York City time, on March 11, 2010, unless such time and
date is extended by Sensata.  Holders of Notes who tender their
Notes after the Withdrawal Date, but on or prior to the Expiration
Date, may not withdraw the Notes tendered.

                    About Sensata Technologies

Almelo, Netherlands-based Sensata Technologies B.V. --
http://www.sensata.com/-- supplies sensing, electrical
protection, control and power management solutions.  Owned by
affiliates of Bain Capital Partners, LLC, a global private
investment firm, and its co-investors, Sensata employs
approximately 9,500 people in nine countries.  Sensata's products
improve safety, efficiency and comfort for millions of people
every day in automotive, appliance, aircraft, industrial,
military, heavy vehicle, heating, air-conditioning, data,
telecommunications, recreational vehicle and marine applications.

                           *     *     *

As reported by the Troubled Company Reporter on December 7, 2009,
Moody's Investors Service has upgraded Sensata Technologies B.V.'s
Corporate Family and Probability of Default ratings to Caa1 from
Caa2, as well as the company's senior secured credit facility to
B2, senior unsecured notes to Caa2, and senior subordinated notes
to Caa3.  In a related rating action, Moody's affirmed the
company's Speculative Grade Liquidity rating at SGL-3.  The
outlook is positive.


SENSATA TECHNOLOGIES: S&P Puts 'B-' Rating on CreditWatch Positive
------------------------------------------------------------------
Standard & Poor's Ratings Services placed the ratings on sensors
and controls manufacturer Sensata Technologies B.V. on CreditWatch
with positive implications, including the 'B-' corporate credit
rating.

"The CreditWatch placement follows the company's announcement that
it plans to use a portion of the proceeds from a planned IPO of
its ultimate parent, Sensata Technologies Holding N.V. (unrated),
to purchase unsecured and subordinated debt," said Standard &
Poor's credit analyst Dan Picciotto.  On completion, S&P expects
total adjusted debt to EBITDA to be to less than 6.5x.  "In
addition, S&P believes business trends remain favorable, which
should allow for further improvement in credit measures," he
continued.  S&P expects to raise the ratings by one notch
following the completed debt repurchase.

The ratings on Sensata reflect its highly leveraged financial
profile and fair business risk profile.  The company's high debt
level more than offsets its good geographic diversification and
solid operating margins.

If parent Sensata Technologies Holding N.V.'s IPO is successful
and the company uses the proceeds to repay debt, S&P would expect
to raise the ratings by one notch.  Sensata remains highly
leveraged, but has begun to generate better EBITDA due to improved
market conditions and significant cost-cutting actions.  Thus,
barring completion of the IPO and debt repayment, S&P would likely
revise the outlook to positive.  Thereafter, S&P could raise the
ratings if adjusted debt to EBITDA trends toward 6x and S&P
anticipates further improvement.  S&P could revise the outlook to
stable if the company does not complete its IPO and 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.


SEQUENOM INC: SAM, Brookside et al. No Longer Hold Shares
---------------------------------------------------------
Four groups of entities disclosed that as of December 31, 2009,
they no longer held shares of Sequenom, Inc. common stock:

     (A) Sectoral Asset Management, Inc., Jerome G. Pfund and
         Michael L. Sjostrom;

     (B) Brookside Capital Trading Fund, L.P.

     (C) Ridgeback Capital Investments L.P.; Ridgeback Capital
         Investments Ltd.; and Ridgeback Capital Management LP;
         And

     (D) Peter Kolchinsky, RA Capital Management, LLC, RA Capital
         Healthcare Fund, L.P., and RA Capital Healthcare Fund II,
         L.P.

Sequenom, Inc. (NASDAQ:SQNM) is a diagnostic testing and genetics
analysis company.  The Company is focused on providing products,
services, diagnostic testing, applications and genetic analysis
products that translate the results of genomic science into
solutions for biomedical research, translational research,
molecular medicine applications, and agricultural, livestock and
other areas of research.

As of September 30, 2009, the Company had total assets of
$101,942,000 against total current liabilities of $18,489,000,
deferred revenue, less current portion of $384,000, other long-
term liabilities of $3,693, and long-term portion debt and
obligations of $2,141,000.

The Company added that there is substantial doubt about its
ability to continue as a going concern.  Although the Company
related that its cash, cash equivalents and current marketable
securities will be sufficient to fund its operating expenses and
capital requirements through 2010, it will require significant
additional financing in the future to fund its operations.


SEVEN SEAS: Moody's Withdraws 'B3' Corporate Family Rating
----------------------------------------------------------
Moody's Investors Service withdrew all ratings for Seven Seas
Cruises S. DE R.L.'s.  The ratings withdrawal was prompted by
Seven Seas' decision not to move forward with its re-financing
transaction to which Moody's had originally assigned its ratings.

Ratings withdrawn are:

  -- Corporate Family Rating at B3

  -- Probability of Default Rating at B3

  -- $200 million guaranteed senior secured 2nd lien notes due
     2017 at Caa1 (LGD 4, 65%)

The last rating action on Seven Seas occurred on January 27, 2010,
when Moody's assigned first time Corporate Family and Probability
of Default Ratings of B3.  The outlook was stable.

Seven Seas is a cruise ship operator that targets the luxury
segment of the cruise industry.  Seven Seas was acquired by
Prestige Cruise Holdings, Inc., in January 2008.  PCH also owns
and operates Oceania Cruises, Inc.


S.H. LEGGITT: Files List of Unsecured Creditors
-----------------------------------------------
S.H. Leggitt Company has filed with the U.S. Bankruptcy Court for
the Western District of Texas a list of 20 largest unsecured
creditors.

A full-text copy of the Debtor's list of creditors is available
for free at http://bankrupt.com/misc/txsb10-31478.pdf

San Marcos, Texas-based S.H. Leggitt Company, aka Marshall
Products -- dba The Leggitt Group; Marshall Brass Company; and
Marshall Gas Controls, Inc. -- filed for Chapter 11 bankruptcy
protection on February 2, 2010 (Bankr. W.D. Texas Case No. 10-
10279).  Joseph D. Martinec, Esq., at Martinec, Winn, Vickers &
McElroy, P.C., assists the Company in its restructuring effort.
The Company listed $1,000,001 to $10,000,000 in assets and
$10,000,001 to $50,000,000 in liabilities.


S.H. LEGGITT: Taps Martinec Winn as Bankruptcy Counsel
------------------------------------------------------
S.H. Leggitt Company has asked for authorization from the U.S.
Bankruptcy Court for the Western District of Texas to employ the
law offices of Martinec, Winn, Vickers & McElroy, P.C., as
counsel.

Martinec Winn will, among other things:

     a. advise the Debtor concerning the conduct of a bankruptcy
        case, prepare of the schedules, statement of affairs,
        Chapter 11 disclosure statement and plan, and other
        documents needed in the case;

     b. attend the Section 341 meeting and the confirmation
        hearing in the Debtor's bankruptcy case;

     c. attend conferences and negotiations, especially with
        secured creditors concerning the issues of value of
        collateral, adequate protection, curing defaults, and
        other matters; and

     d. draft and file any needed amendments to the disclosure
        statement and plan, objections to the disclosure statement
        and Plan, objections to claims, motions to sell or buy
        property, motions to approve post petition financing,
        motions for orders approving the use of cash collateral,
        and other matters necessary to complete the Plan
        successfully.

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

        Joseph D. Martinec           $400
        Rebecca S. McElroy           $400
        Ed Winn                      $350
        Lee Vickers                  $300
        Legal Assistants             $100
        Law Clerks                    $35
        Administration                $20

Joseph D. Martinec, Esq., an attorney at Martinec Winn, assures
the Court that the firm is "disinterested" as that term is defined
in Section 101(14) of the Bankruptcy Code.

San Marcos, Texas-based S.H. Leggitt Company, aka Marshall
Products -- dba The Leggitt Group; Marshall Brass Company; and
Marshall Gas Controls, Inc. -- filed for Chapter 11 bankruptcy
protection on February 2, 2010 (Bankr. W.D. Texas Case No. 10-
10279).  Joseph D. Martinec, Esq., at Martinec, Winn, Vickers &
McElroy, P.C., assists the Company in its restructuring effort.
The Company listed $1,000,001 to $10,000,000 in assets and
$10,000,001 to $50,000,000 in liabilities.


SHEARER'S FOODS: Moody's Assigns Corporate Family Rating at 'B1'
----------------------------------------------------------------
Moody's assigned a first time corporate family rating of B1 to
Shearer's Foods, Inc., and rated its proposed $20 million senior
secured revolver and $119 million term loan B facilities at Ba3.
The proceeds will be used to fund Shearer's proposed acquisition
of Snack Alliance and to repay existing debt at both companies.
The rating outlook is stable.

Moody's said that the newly assigned CFR of B1 reflects the
company's solid position in private label, co-pack and branded
snack foods following the proposed acquisition of Snack Alliance,
a transaction which will provide greater geographic, product and
customer diversity to Shearer's as well as enabling costs
synergies.  The rating also reflects the company's relatively
small scale and focus on the salty snack sector.  While the
company enjoys growing diversity in its product offerings, and has
demonstrated good innovation capabilities, with more than 30 new
products or flavor extensions since 2008, it is less diversified
both geographically and in terms of product categories than larger
packaged food companies with which it competes.  While the company
is small relative to the overall snack foods market, it enjoys
growth rates that are ahead of the industry.  It is largest
producer of kettle chips in the country and one of the largest
producers of private label potato chips.  While Shearer's is
increasing total leverage to fund the acquisition, Moody's expect
the combined company to remain modestly levered, with closing
leverage not exceeding 4 times and falling to a level closer to
3.7 times (per Moody' FM) by the end of Shearer's fiscal year,
said Linda Montag, SVP at Moody's .

The two companies have complementary customer bases that consist
of strong co-pack partners and leading retailers.  In addition,
the companies manage a family of growing branded products,
including the riceworksr and Shearer'sr brands.  The combinations
of the two companies will further serve to reduce customer
concentration.  In total, Co-packing will account for nearly 50%
of the company's business at closing.  The rating is influenced by
the fact that a large proportion of the company's total sales are
derived from a single co-packing arrangement with one large, high
quality customer.  This concentration will be reduced as a result
of the Snack Alliance acquisition, but will remain high at
approximately 30% of total sales.

Retailer concentration will be balanced with no single retailer
representing more than 10% of combined sales.  The combination
also diversifies the manufacturing footprint of the company by
adding manufacturing facilities in Oregon and Virginia enabling
lower transportation costs and better servicing of customers on
the east and west coasts and diversifies sales regions away from a
concentration in the central states at Shearer's.  Cost synergies
are expected to amount to approximately $2 million.  Moody's notes
that this is a relatively large acquisition for Shearer's, which
has grown organically aside from very small acquisitions, and that
certain integration risks exist.  This risk is also reflected in
the rating outcome.

The proposed bank facilities will be secured by substantially all
of the tangible and intangible assets of the borrower.  Moody's
expect the company to have at least a 15 to 20% cushion under its
most restrictive financial covenants at all times.

Ratings Assigned:

  -- Corporate Family Rating at B1
  -- Senior secured Revolver at Ba3, LGD 3; 40%
  -- Senior secured Term loan B at Ba3.  LGD 3; 40%
  -- Probability of Default rating at B1

This is a first time rating assignment.

Shearer's, headquartered in Brewster, Ohio, is a leading producer
of high quality, co-pack, private label and branded food products,
with 2009 sales of approximately $200 million.  It is the largest
producer of kettle chips in the U.S. Snack Alliance, based in
Vancouver, British Columbia had 2008 sales of CA$ 97.5 million and
is one of the fastest growing private label and co-pack snack
producers in the U.S.


SHOPPES AT SILVER: M&T Bank Offers $1 to Acquire Assets
-------------------------------------------------------
Matt Miller at The Patriot News say M&T Bank made a $1 bid during
a sale to acquire the assets of Shoppes at Silver Spring in 6400
block of Carlisle Pike in Silver Spring Township.  The sale was
forced by a $4.36 million judgment the bank secured from a county
court on unpaid debts.

Based in Carlisle, Pennsylvania, Shoppes at Silver Spring LP filed
for Chapter 11 on June 10, 2009 (Bankr. M.D. Penn. Case No.
09-04454).  Robert E. Chernicoff, Esq, at Cunningham and
Chernicoff PC, represents the Debtor in its restructuring efforts.
The Debtor both listed assets and debts of between $1 million and
$10 million.


SIX FLAGS: Texas Comptroller Says Plan Not Confirmable
------------------------------------------------------
The Texas Comptroller of Public Accounts objects to Six Flags
Inc.'s Fourth Amended Plan of Reorganization complaining that it
cannot be confirmed because the Plan fails to provide that:

(a) year 2010 franchise tax returns of the Debtors will be
     timely filed and paid in the ordinary course of business;
     and

(b) it will not be construed to impair the setoff rights of the
     Texas Comptroller pursuant to Section 553 of the Bankruptcy
     Code, which provides that the Bankruptcy Code "does not
     affect any right of a creditor to offset a mutual debt
     owing by a creditor to the debtor that arose before the
     Petition Date against a claim of a creditor against the
     debtor that arose prior to the Petition Date.

                          Six Flags Plan

Six Flags Inc. and its units have filed a proposed plan and
disclosure statement.

In broad terms, the Plan, as thrice amended, envisions new debt
financing and a rights offering that will repay the existing
secured debt in full, while allowing enhanced recoveries for
senior unsecured noteholders at both the Six Flags Inc. and Six
Flags Operations Inc. levels.  In this general sense, the Plan
incorporates the central features of an alternative plan put
forward by a committee of noteholders and the group has indicated
it will support the Plan.

The Plan provides for a recovery of 100.0% to holders of SFTP
Prepetition Credit Agreement Claims, a 100% recovery for the
holders of all Other Secured Claims, a 100% recovery for the
holders of Unsecured Claims against all Debtors other than SFO and
SFI, 31.2% to 47.1% to holders of SFO Unsecured Claims, 3.2% to
4.8% to holders of SFI Unsecured Claims, and no recovery for
holders of Funtime, Inc. Claims, Subordinated Securities Claims
and Preconfirmation Equity Interests in SFI.

A full-text copy of the disclosure statement to the third amended
reorganization plan is available for free at:

   http://bankrupt.com/misc/SixFlags_3rdAmndd_DiscStatement.pdf

                           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: Gets Go Signal for Pact With Commonwealth Insurance
--------------------------------------------------------------
Six Flags Inc. and its units seek approval from the U.S.
Bankruptcy Court for the District of Delaware of a settlement
agreement and release between and among the Debtors and
Commonwealth Insurance Company.

Daniel J. DeFranceschi, Esq., at Richards, Layton & Finger, P.A.
in Wilmington, Delaware, relates that on August 29, 2005, Six
Flags New Orleans, one of the Debtors' parks located in New
Orleans, Louisiana, was severely damaged as a result of Hurricane
Katrina, and thereafter was unable to open for business.

By an agreement with the landlord for Six Flags New Orleans, the
Debtors were able to terminate their interest in the leased
property comprising of Six Flags New Orleans, Mr. DeFranceschi
says.  The Debtors then filed a lawsuit against Commonwealth and
other property insurers, which is pending before the U.S.
District Court for the Eastern District of Louisiana, concerning
the Debtors' rights to payments under the Commonwealth insurance
policy in connection with its losses from Hurricane Katrina.

In February 2008, the District Court ruled in summary judgment
that the flood insurance sub-limit was applicable to the
Commonwealth Policy.  According to Mr. DeFranceschi, the Debtors
appealed this ruling in April 2009 to the United States Court of
Appeals of the Fifth Circuit, which reversed the District Court's
entry of judgment for Commonwealth, remanding coverage issues as
to the Commonwealth Policy back to the District Court for further
consideration.

In this regard, the Debtors and Commonwealth recently engaged in
arms-length discussions concerning a settlement resolving their
liabilities in connection with the Lawsuit and any loss sustained
by the Debtors at Six Flags New Orleans.  In November 2009,
Commonwealth and the Debtors entered into the settlement.  In
accordance with the Settlement, Commonwealth agreed to pay the
Debtors a one-time payment in full satisfaction of the Debtors'
Claims against Commonwealth with respect to any losses incurred
at Six Flags New Orleans.  In exchange of the payment, the
Debtors and Commonwealth agreed to release the other party from
all manner of actions in connection with the Lawsuit and the
Appraisals.

The Settlement allows the Debtors to avoid costly, burdensome and
uncertain litigation by fully resolving potential insurance
claims, Mr. DeFranceschi tells the Court.  He believes it is
critical to the Debtors and their estates and creditors that the
Settlement be effective immediately.  On behalf of the Debtors,
Mr. DeFranceschi asks the Court for a waiver of the 14-day stay
imposed by Rule 6004(h) of the Federal Rules of Bankruptcy
Procedure.

                          Six Flags Plan

Six Flags Inc. and its units have filed a proposed plan and
disclosure statement.

In broad terms, the Plan, as thrice amended, envisions new debt
financing and a rights offering that will repay the existing
secured debt in full, while allowing enhanced recoveries for
senior unsecured noteholders at both the Six Flags Inc. and Six
Flags Operations Inc. levels.  In this general sense, the Plan
incorporates the central features of an alternative plan put
forward by a committee of noteholders and the group has indicated
it will support the Plan.

The Plan provides for a recovery of 100.0% to holders of SFTP
Prepetition Credit Agreement Claims, a 100% recovery for the
holders of all Other Secured Claims, a 100% recovery for the
holders of Unsecured Claims against all Debtors other than SFO and
SFI, 31.2% to 47.1% to holders of SFO Unsecured Claims, 3.2% to
4.8% to holders of SFI Unsecured Claims, and no recovery for
holders of Funtime, Inc. Claims, Subordinated Securities Claims
and Preconfirmation Equity Interests in SFI.

A full-text copy of the disclosure statement to the third amended
reorganization plan is available for free at:

   http://bankrupt.com/misc/SixFlags_3rdAmndd_DiscStatement.pdf

                           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: Sued by Kentucky State Fair Board for Fraud
------------------------------------------------------
The Kentucky State Fair Board, the Commonwealth of Kentucky, the
State Property and Buildings Commission of the Commonwealth of
Kentucky, and the Finance and Administration Cabinet of the
Commonwealth of Kentucky filed an adversary complaint against the
Debtors seeking allowance of administrative expense claim and
damages resulting from breach of contract, conversion, fraud and
misrepresentation.

The ownership of the land upon which Kentucky Kingdom Amusement
Park is situated is divided among four parties.  The majority of
the Park is owned by the KSFB.  In February 1996, the KSFB
entered into an Amended and Restated Lease Agreement with
Kentucky Kingdom, Inc. wherein Kentucky Kingdom, Inc. leased from
the KSFB approximately 36 acres of property owned by the KSFB and
located at the Kentucky Kingdom for an Initial Term ending
December 31, 2019, with three options exercisable by the Tenant
to extend the Term through December 31, 2049.  In October 1997,
Kentucky Kingdom, Inc. assigned its interest as tenant in the
Park Lease to KKI.

After the Petition Date, the Debtors continued to operate
Kentucky Kingdom throughout the 2009 season.  As the season began
to wind down, the Debtors began to prepare for the upcoming
seasons and advised the KSFB of plans for major renovations and
additions to the water park portion of the Park.  The plan
included the removal of a rollercoaster known as Chang in order
to create necessary space for these improvements.  Beginning in
October 2009, KKI removed the Chang coaster.  No water park
improvements were made.

On February 4, 2010, Premier International Holdings, Inc. issued
a press release stating that the Park would not reopen for the
2010 season and that several of the Park rides would be relocated
to other Six Flags parks.  On February 5, the Debtors, believing
that the revenue generated by the Debtors' operations at the
leased premises is insufficient to justify the expenses incurred
under the Lease and in the operation of SFKK and the continued
payments under the Lease would be economically burdensome to the
estate, filed the motion seeking rejection of the Amended and
Restated Lease Agreement between the Debtors and KFSB, et al.

In the days immediately following the issuance of the press
release and the filing of the rejection motion, the KSFB received
calls from several parties interested in operating the Kentucky
Kingdom.

On February 12, 2010, on the eve of a three-day holiday weekend,
it came to the attention of the KSFB that the Debtors had moved
trucks into position to begin the process of removing certain
fixtures off of the Kentucky Kingdom property, including property
owned by KSFB.

As a result of those events, KSFB filed their complaint, alleging
that:

(1) The rides and other attractions located on the land owned
     by KSFB are the fixtures and not property of the estate.
     Because the Debtors do not have any rights, title and
     interest in or to the rides and attractions of Kentucky
     Kingdom located on the property of the KSFB, those rides
     and attractions cannot and do not constitute property of
     the Debtors' estates under Section 541(a) of the Bankruptcy
     Code.

(2) The Debtors have committed breach of contract, for their
     removal of certain rides and other Tenant Improvements from
     the Leased Premises without obtaining the consent of the
     KSFB, or under false or misleading pretenses, including,
     without limitation, the ride known as Chang.  Pursuant to
     the Park Lease, none of the alterations, decorations,
     additions or Tenant Improvements made by the Debtors on the
     Leased Premises will be removed by the Debtors without the
     prior consent of the KSFB.

(3) The Debtors have committed conversion for their alleged
     removal of any rides or Tenant Improvements which were
     affixed to or were appurtenant to the KSFB's real estate
     constitutes conversion of the KSFB's property for which the
     Debtors are liable to the KSFB for damages.

(4) The Debtors have committed Fraud and Willful
     Misrepresentation for their alleged written and verbal
     representations to the KSFB that the Debtors intended to
     replace the Chang ride with a "major expansion to the
     existing water park."  Despite those representations, no
     expansion to the water park was undertaken by the Debtors
     and, in fact, the Chang ride was removed and nothing was
     installed by the Debtors in its place.  The Debtors'
     material misrepresentations to the KSFB were willful and
     made with the fraudulent intent to induce the KFSB to allow
     the Tenant to remove the Chang ride, thus depriving the
     KSFB of the value of the ride and further diminishing the
     value of the KSFB's property.

                           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).


SOLUTIA INC: Moody's Affirms Corporate Family Rating at 'B1'
------------------------------------------------------------
Moody's Investors Service affirmed the debt ratings of Solutia
Inc. (B1 Corporate Family Rating) and revised the ratings outlook
to positive from stable.  Moody's also assigned Ba2 ratings to
Solutia's proposed new senior secured credit facilities including
a revolver and term loan and assigned a B2 on a proposed senior
unsecured note.  Among other changes the new credit facilities are
no longer subject to a borrowing base and they extend maturities
by two years.  Solutia's Speculative Grade Liquidity rating is
SGL-2.

The move to a positive outlook reflects both the recent relatively
stable operating performance, including margin improvement, in a
difficult global economic environment indicating the prospect for
further healthy cash flow generation, notwithstanding incremental
increases in debt to fund growth.  The positive outlook also
incorporates Moody's anticipation that major further material debt
financed acquisitions are unlikely, and that Solutia's remaining
business lines will generate, over time, cash flow that is
positive and improving relative to existing debt levels.  The
rating on the proposed amended facilities assumes that they are
closed under the proposed terms as presented to us and Moody's
will monitor the transaction and review the closing documents.

While, the positive outlook reflects the high leverage at the end
of 2009, Moody's expect at the end of 2010 and 2011 leverage will
likely move close to 4.5 times.  In addition, Moody's concerns
over Solutia's prior business profile were addressed with the sale
in 2009 of the low margin integrated nylon business, a sector that
is undergoing a fair amount of turmoil.  With the sale of this
business Solutia's remaining businesses are both higher margin and
less exposed to volatile raw material prices.  Moody's also note
that a significant percentage of EBITDA is derived from a single
reasonably stable product line, Crystexr, that also has a high
degree of customer concentration with the bulk of EBITDA being
derived from tire manufacturers.  Solutia's positive outlook also
considers the strength of its franchise in terms of its market
positions and long-lived customer relationships.  If operating
performance is weaker than anticipated or material increases in
environmental liabilities were to occur, the outlook or rating
could turn negative.  Over the next four quarters, if Solutia's
credit metrics improve faster than expected, such that debt/EBITDA
metrics improve to less than 4.0 times on a permanent basis or if
environmental liabilities were deemed to be much improved a
positive change in the rating could occur.

"The positive outlook reflects Moody's assumption that credit
metrics are expected to improve aided by operating cash flow
improvement.  Excess free cash flow is likely to be used for debt
reduction and the new senior credit facilities will, if executed,
be a credit positive and improve liquidity." said Moody's analyst
Bill Reed.

Ratings Affirmed --

  -- Corporate Family Rating, B1
  -- Probability of Default Rating, B1
  -- Speculative Grade Liquidity Rating, SGL-2
  -- Senior Secured Bank Credit Facility, Ba1*
  -- Senior Secured Bank Term Loan, Ba3*
  -- Senior Unsecured Ratings, B2

* Ratings to be withdrawn upon successful completion of new credit
  facilities

Assignments:

Issuer: Solutia Inc.

  -- Proposed Senior Unsecured Regular Bond/Debenture, due 2020
     Assigned a B2, LGD5, 76%

  -- Proposed Senior Secured Credit Facility, due 2015 Assigned a
     Ba2, LGD2, 21%

  -- Proposed Senior Secured Term Loan, due 2017 Assigned a Ba2,
     LGD2, 21%

Outlook Actions:

Issuer: Solutia Inc.

  -- Outlook, Changed To Positive From Stable

The B1 Corporate Family Rating reflects the company's high
leverage and weak, but improving, credit metrics along with the
cash flow requirements surrounding its environmental remediation
activities.  An additional concern centers on the high proportion
of Solutia's revenue base that is concentrated in the auto related
and construction industries, 59% and 19% respectively in 2009.
Solutia's sale of its low margin commodity nylon businesses is
viewed as a credit positive.  After emerging from bankruptcy in
early 2008, Solutia remains highly leveraged even after reducing
balance sheet debt by $700 million.  Leverage remains high,
particularly after adjusting debt for rent and pensions, which
adds roughly $114 million and $366 million, respectively.
Coverage for fiscal year 2009 (based on Moody's adjusted debt), as
measured by EBITDA/Interest, is about 1.9 times while projected
leverage as measured by Debt/EBITDA is just over 4.7 times.  In
Moody's projections, adjusted debt for 2010 is estimated at about
$1.9 billion and pro forma adjusted debt to book capital would be
just above 70% at December 31, 2009.  Moody's note that even with
fresh start accounting, tangible net worth is a negative
$714 million at the end of 2009.

While Moody's recognize that good progress has been made in the
elimination, classification and/or sharing of environmental, legal
and pension liabilities, there remains a level of uncertainty as
to the ultimate scope of these liabilities, particularly the
environmental liabilities.  Moody's believe that these
environmental liabilities are subject to changing governmental
policy and regulations, discovery of unknown conditions, judicial
proceedings, method and extent of remediation, existence of other
potentially responsible parties and future changes in both
measurement and remediation technologies.

Additional positive factors supporting the ratings include:

     * strong geographic, product and operational diversity;

     * sizeable market leadership in the markets Solutia serves;

     * sizeable revenue base -- projected to exceed $1.7 billion
       in 2010;

     * the ability to share on a 50/50 basis with Monsanto
       environmental liabilities at certain sites if the costs
       exceed $325 million.

Moody's also believe that the proposed acquisition of Etimex Solar
for  EUR240 million in cash, notwithstanding the high multiple
paid, will be a logical and strong strategic fit for the company.

The Ba2 senior secured rating recognizes that the credit
facilities will be secured by a first-priority lien on all
material property and assets (tangible and intangible) of the
borrower and the guarantors.  The B2 rating on the proposed
unsecured notes reflects their junior position in the capital
structure and the prospect of limited protection after the first
lien lenders have been provided for in a distressed scenario.

The Speculative Grade Liquidity SGL-2 rating reflecting the
company's strong liquidity and Moody's expectation of reasonable
retained cash flow, in excess of $150 million, for the fiscal year
ending 2010.  The rating is supported by Solutia's favorable debt
maturity profile and improved flexibility under the financial
covenants for the company's credit facility.

Moody's most recent announcement concerning the ratings for
Solutia was on October 5, 2009, when Moody's assigned a B2 rating
to a $400 million senior unsecured note.

Solutia, headquartered in St. Louis, Missouri, produces and sells
a diverse portfolio of performance materials and specialty
chemicals.  End markets for Solutia's products include automotive,
architectural (residential and commercial), aerospace, process
manufacturing, construction, electronic/electrical, and
industrial.  Net sales for the LTM period ending December 31, 2009
were $1.7 billion.  Solutia filed a voluntary petition for
reorganization under Chapter 11 of the U.S. Bankruptcy Code in
December 2003 and emerged from bankruptcy February 2008.


SOLUTIA INC: S&P Raises Corporate Credit Rating to 'BB-'
--------------------------------------------------------
Standard & Poor's Ratings Services said that it raised its ratings
on St. Louis-based Solutia Inc., including the corporate credit
rating to 'BB-' from 'B+'.  The outlook is stable.

"The upgrade reflects S&P's expectation that Solutia will sustain
the improving trend in EBITDA and credit metrics of the last three
quarters," said Standard & Poor's credit analyst Paul Kurias.
"The improvements were driven by sequentially higher sales volumes
but also by a cost-restructuring program and a favorable raw
material and energy cost environment."

S&P's rating action factors an ongoing growth in volumes,
consistent with S&P's expectation for a gradual economic recovery
over the next several quarters.  S&P expects that EBITDA in 2010
will improve modestly from 2009 levels as a result of demand-
driven revenue growth, and ongoing cost structure improvements,
even before including benefits from the proposed acquisition.

In addition, S&P assigned 'BB' issue-level ratings and '2'
recovery ratings to the company's proposed new senior secured
credit facilities consisting of a $300 million revolving credit
facility due 2015 and a $750 million term loan due 2017.  The '2'
recovery ratings indicate an expectation of substantial (70%-90%)
recovery in the event of a payment default.  S&P also assigned a
'B+' issue-level rating and a '5' recovery rating to the company's
proposed $300 million senior unsecured notes.  The '5' recovery
rating indicates an expectation of modest recovery (10%-30%) in
the event of a payment default.  These ratings are based on
preliminary terms and conditions.

The company expects to use proceeds from the proposed new credit
facilities and the notes to refinance the existing $350 million
asset-based revolving credit facility (undrawn as of Dec. 31,
2009, except for $44 million in letters of credit) and the
$1.2 billion term loan ($876 million outstanding as of Dec. 31,
2009).  Solutia will also use proceeds for general corporate
purposes, including the partial funding of the company's proposed
acquisition of Etimex Solar GmbH.

Pro forma for the transactions (including the debt paydown), as of
Dec. 31, 2009, the company had about $2 billion in adjusted debt.
S&P adjusts debt to include the present value of capitalized
leases, tax-adjusted underfunded postretirement obligations, and
tax-adjusted environmental liabilities.


SPANSION INC: Exclusive Solicitation Period Extended to March 8
---------------------------------------------------------------
Bankruptcy Judge Kevin Carey has extended Spansion Inc.'s deadline
to solicit votes to accept or reject a proposed plan of
reorganization through March 8, 2010.

Prior to the entry of the Court's order, the Debtors certified to
the Court that no objections were filed as to the request.

                    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: Settles With Warn Act Plaintiffs for $8.56MM
----------------------------------------------------------
Wesley Cabreros, David Refuerzo and Marlin Shopbell,
individually, and on behalf of all other persons similarly
situated individuals, ask the Court to:

(i) approve a compromise and settlement agreement dated
     February 16, 2010, by and among Spansion Inc., Spansion
     LLC, Marlin Shopbell, on behalf of himself and the Texas
     Settlement Class, Wesley Cabreros and David Refuerzo, on
     behalf of themselves and the California Class, and Eric
     Rubaker under Rule 9019 of the Federal Rules of Bankruptcy
     Procedure;

(ii) preliminarily approve the Settlement under Rule 23(e) of
     the Federal Rules of Civil Procedures, including the plan
     of allocation for distributing settlement proceeds to Class
     Members;

(iii) conditionally certify the Texas Class for purposes of
     settlement, appoint the Texas Plaintiff as class
     representative for the Texas Class, and appoint Plaintiff's
     counsel as Class Counsel for the Texas Class;

(iv) approve the forms and manner of directing notice of the
     Settlement to Class Members;

(v) approve the appointment and payment of Notice Administrator
     selected by Plaintiffs;

(vi) order that payments for Allowed Priority Claims may be made
     prior to confirmation of the Plan of Reorganization; and

(vi) scheduling the Fairness Hearing required by Rule 23(e) of
     the Federal Rules of Civil Procedure.

On March 6, 2009, the California Plaintiffs filed a class action
complaint commencing an adversary proceeding against the Debtors
on behalf of the California Plaintiffs and the California Class
titled Cabreros and Refuerzo, et al. v. Spansion, LLC and
Spansion, Inc.  The Class Action alleges that the Debtors
violated the federal Worker Adjustment and Retaining Notification
Act and California Labor Code by ordering a plant closing or mass
layoff or termination within the meaning of the WARN Act on
February 23, 2009, without providing 60 days advance notice to
affected employees.

The Court entered an order granting the California Plaintiffs'
motion for certification of the litigation as a class action and
certifying a class defined as:

  "All Spansion employees who suffered an employment loss as a
   consequence of a mass layoff, plant closing, and/or
   termination that occurred at Spansion's Sunnyvale, California
   site of employment commencing on or about February 23, 2009,
   and who received less than sixty (60) days advance notice of
   the mass layoff, plant closing, and/or termination."

The parties participated in a full-day mediation, on October 6,
2009, with the well-known and well regarded mediator David Rotman
in San Francisco, California.  The mediation led to an agreement
to settle the case, including claims on behalf of the Texas
Settlement Class, and execution of a memorandum of understanding.

The most salient terms of the Settlement are:

  A. The "Total Settlement Amount" consists of $8,568,000 in
     allowed claims in the Debtors' bankruptcy cases, comprised
     of "Allowed Priority Claims" of approximately $6.8 million
     and "Allowed Unsecured Claims" of approximately
     $1.768 million.  The Debtors will also pay the employer's
     share of all applicable payroll taxes on payments to Class
     Members.

  B. The Allowed Priority Claims will be allocated to Class
     Members in the amount of each Class Member's alleged WARN
     Act damages, as calculated by Class Counsel, up to a
     maximum of $10,950, the maximum priority amount allowed
     under Section 507(a)(4) and (5) of the Bankruptcy Code,
     with an offset for the amount of any priority payments the
     Class Member has already received from the Debtors for non-
     WARN Act claims.

  C. The amount of the Total Settlement Payment that is not
     allocated to Allowed Priority Claims -- approximately
     $1.4 million for the California Class and approximately
     $368,000 for the Texas Settlement Class -- will be allocated
     to Class Members pro rata in the form of "Allowed Unsecured
     Claims" based on the difference between each Class Member's
     WARN Damages and the amount of the Class Member's allowed
     priority claim.

  D. For purposes of the Settlement, the Debtors are stipulating
     to the propriety of certifying the Texas Settlement Class
     including the appointment of the Texas Plaintiff as class
     representative and the Texas Plaintiff's counsel as Class
     Counsel for the Class.

  E. Each Class Member will release the Debtors from all claims
     that have been brought in the Litigation and all claims
     that arise out of the same nucleus of operative facts as
     the claims alleged in the Litigation.  The Plaintiffs
    (David Refuerzo) and Class Member (Eric Rubaker) who filed
     prepetition class action WARN Act actions against the
     Debtors in the Northern District of California will dismiss
     those actions with prejudice, and Plaintiffs will withdraw
     or amend the class-wide proofs of claim they filed in the
     Debtors' bankruptcy cases.

  F. The Settlement provides that the Debtors may pay the
     Allowed Priority Claims before the final confirmation or
     effective date of the Plan, thereby allowing Class Members
     to receive compensation as soon as possible.

The Settlement Agreement further provides that, after preliminary
approval, Settlement Services, Inc., the company selected by
Plaintiffs and approved by the Court as the "Notice
Administrator," will send notices of settlement by first-class
mail to each Class Members.  The notices provide, among other
things:

  * a summary of the Litigation and the disputed issues;

  * a summary of the proposed Settlement, including the plan of
    allocation, the release of claims, the available election
    relating to treatment of allowed unsecured claims, Class
    Counsel's application for attorney's fees and costs, and the
    application for Service Payments;

  * that putative Texas Class Members have the right to opt out
    by timely submitting a request for exclusion;

  * that the Settlement will become effective only if an when it
    is finally approved by the Court;

  * that Class Members have the right to object to the
    Settlement and appear at the Fairness Hearing, including
    Class Counsel's application for attorney's fees and costs,
    and to retain counsel to represent them in their objections;
    and

  * the date, time, and location of the Fairness Hearing.

                    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: Committee Asks Silver Lake to Respond to Subpoenas
----------------------------------------------------------------
The Ad Hoc Committee of Convertible Noteholders formed in Spansion
Inc.'s cases asks the Bankruptcy Court to compel Silver Lake
Financial, Silver Lake Partners and Silver Lake Sumeru to respond
to subpoenas properly served on them.

On February 9, 2010, Micron Technology, Inc. and Numonyx Holdings
B.V. announced that Micron would be acquiring Numonyx -- a direct
competitor of the Debtors -- for $1.27 billion.  The Convertible
Committee served subpoenas on various entities seeking certain
documents relating to Numonyx's financial information.

The Ad Hoc Committee served three subpoenas to each of the Silver
Lake Entities requesting four relevant categories of financial
information that maybe in Silver Lake Entities' possession,
custody, or control.

The Silver Lake Entities filed objections and responses to the
subpoenas, asserting various boilerplate objections and
complaining that the Ad Hoc Committee's request did not provide
them sufficient time to respond.

According to the Ad Hoc Committee, the Silver Lake Entities have
provided no proper legal basis for their refusal to produce any
documents in response to its subpoena other than their general,
conclusory, and unsupported allegations of undue burden and
inadequate time.

                       Silver Lake Objects

Silver Lake Sumeru Fund, L.P., Silver Lake Financial Associates,
L.P. and Silver Lake Partners, L.P. oppose the Ad Hoc Committee's
Motion to Compel.

The Silver Lake Entities relate that they undertook a reasonable
search to determine whether it was likely that they had documents
responsive to the Subpoenas.  According to the Silver Lake
Entities, they did not limit that investigation to themselves,
but instead broadly examined whether it was likely that any other
Silver Lake entities might have responsive documents.  Numonyx
was founded as Numonyx on March 31, 2008, and the Subpoenaed
Entities do not believe they examined documents relating to
Numonyx after that entity became Numonyx.  They may have had
discussions about the predecessor to Numonyx prior to the time
Numonyx was founded, but that would not be relevant to the
Convertible Committee's requests, the Silver Lake Entities
assert.

Within two business days of receiving the Subpoenas, the
Subpoenaed Entities provided detailed responses and objections to
the Subpoenas, including a catalog of the many substantive and
procedural flaws in the Subpoenas.

Not satisfied with those responses and objections, the Ad Hoc
Committee's counsel engaged with counsel for the Subpoenaed
Parties and was told twice that the Subpoenaed Entities did not
believe they had documents responsive to the Subpoenas.

The Silver Lake Entities tell the Court that they did not refuse
to comply with the Subpoenas.  What they refused to do was be
compelled for no good reason to undertake a pointless search of
their files that would have done nothing but waste time and
money.  According to the Silver Lake Entities, they did what they
believed to be a reasonable search for responsive documents,
concluded that there likely are none, and so informed the Ad Hoc
Committee.

                 Numonyx Wants Motion Quashed

Numonyx, Inc., asks the Court to quash the subpoena issued to it
by certain creditors in the Debtors' bankruptcy proceedings.

In connection with the confirmation hearing, one issue that is
likely to be addressed is a determination of Spansion's
enterprise value, and one area that may be relevant to that
determination is the recently announced acquisition of Numonyx by
Micron Technology, Inc., says Charles B. Hampton, Esq., at
Andrews Kurth LLP, in New York, representing a group of Spansion
creditors.  He adds that the subpoena is issued to obtain limited
information regarding that transaction.

According to Numonyx, the subpoena imposes undue burden and
hardship because it requires its officers to travel more than 100
miles from Geneva, Switzerland.  The subpoena also requires
disclosure of privileged, restricted, and confidential matter,
and no exception or waiver applies, Numonyx asserts.

In an amended motion, Numonyx asked that the names and addresses
of each members of the group of creditors on whose behalf the
subpoena was issued be provided to it.  Numonyx asserts that it
should not be required to respond to parties that do not disclose
their identities.  Numonyx further avers that it is not a party
to the Debtors' bankruptcy case.

Request for information is made by a group of creditors for the
reason that Numonyx Holding B.V.'s financial information is
relevant to determination of Spansion Inc.  Numonyx asserts it
should not be required to respond to requests for information
where no evidence has been provided that the information is,
among other things, (i) relevant, (ii) needed for a legitimate
purpose, and (iii) available from no other source.

              Micron's Also Wants Motion Quashed,
                  Seeks Protective Order

Micron Technology, Inc., asks the Court to enter an order quashing
a subpoena issued by the Ad Hoc Committee of Convertible
Noteholders or for a protective order precluding the deposition
and production of documents.

Micron asserts that it is not involved in the Debtors' cases and
any involvement imposes an undue burden on it.  Specifically,
Micron notes, some of the information sought in the Subpoena can
be obtained directly from Numonyx, Inc., or other publicly
available sources.  According to Micron, other information sought
-- the assets to be received by the current owners of Numonyx or
liabilities to be assumed or paid by the current owners of
Numonyx -- should be sought from the current owners of Numonyx
rather than it.

Moreover, Micron maintains, most, if not all of the information
which it may have which is sought in the Subpoena is highly
confidential, privileged or subject to nondisclosure agreements.
In addition, Micron avers that the proposed deposition of its
records custodian is untimely and burdensome and would require a
representative of Micron to travel from Idaho to Delaware should
the deposition go forward.

                    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)


SPIRIT FINANCE: S&P Downgrades Corporate Credit Rating to 'CC'
--------------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Spirit Finance Corp. to 'CC' from 'CCC'.  At the same
time, S&P lowered its rating on the company's $850 million secured
term loan to 'CC' from 'CCC-'.  S&P's recovery rating on the term
loan remains unchanged at '5'.  The outlook remains negative.

"The downgrades reflect the company's bid to repurchase a portion
of its term loan at a discount," said credit analyst Elizabeth
Campbell.  "If the company is successful, S&P will view this
action as tantamount to default."

S&P will lower the corporate credit rating to 'SD' and the issue-
level rating on the term loan debt to 'D' if the company completes
the repurchase as contemplated.  S&P would then expect to raise
the corporate credit rating to 'CCC-'.  Alternatively, if the
current repurchase offer is rejected, S&P would maintain the
rating at 'CC' because S&P believes it's highly likely that Spirit
will pursue additional repurchase offers in the next 12 months.


STERLING CHEMICALS: S&P Withdraws 'B-' Corporate Credit Rating
--------------------------------------------------------------
Standard & Poor's Ratings Services said that it withdrew its
ratings, including its 'B-' corporate credit rating, on Houston,
Texas-based Sterling Chemicals Inc. at the company's request.


SUN WEST ESTATES: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Sun West Estates New Mexico LP
        4528 Willow West Dr.
        El Paso, TX 79922

Bankruptcy Case No.: 10-11002

Chapter 11 Petition Date: March 2, 2010

Court: United States Bankruptcy Court
       New Mexico (Albuquerque)

Debtor's Counsel: Sidney J. Diamond, Esq.
                  3800 N Mesa St.,Ste C4
                  El Paso, TX 79902-1535
                  Tel: (915) 532-3327
                  Fax: (915) 532-3355
                  Email: usbc@sidneydiamond.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/nmb10-11002.pdf

The petition was signed by Miguel Aldrete Sr., managing partner of
the Company.

Debtor-affiliate that filed separate Chapter 11 petition:

(1) Sun West Development New Mexico, LLC
     Case No: 10-11006
     Estimated Assets: $1,000 to $10,000,000
     Estimated Debts: $1,000,000 to $10,000,000


SWOOZIE'S INC: Case Summary & 39 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Swoozie's, Inc.
        80 W. Wieuca Road, Suite 302
        Atlanta, GA 30342

Bankruptcy Case No.: 10-66316

Chapter 11 Petition Date: March 2, 2010

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

Judge: C. Ray Mullins

Debtor's Counsel: Wendy R. Reiss, Esq.
                  Alston & Bird, LLP
                  1201 W. Peachtree Street
                  Atlanta, GA 30309-3424
                  Tel: (404) 881-4984
                  Fax: (404) 881-7777
                  Email: wendy.reiss@alston.com

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

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

A list of the Company's 39 largest unsecured creditors is
available for free at:

                http://bankrupt.com/misc/ganb10-66316.pdf

The petition was signed by Kerry Plank-Dworki, authorized officer,
president and chief financial officer of the company.


TAVERN ON THE GREEN: To Be Converted to Ch. 7 Liquidation
---------------------------------------------------------
Don Jeffrey at Bloomberg News reports that U.S. Bankruptcy Judge
Allan Gropper in New York said he will convert Tavern on the Green
LP's bankruptcy case to a Chapter 7 liquidation because the case
is now administratively insolvent.  "There has been substantial
and continued loss to the estate," Judge Gropper said.  "The
appointment of an independent trustee would be beneficial to all
parties."

The U.S.-appointed trustee would oversee the sale of the remaining
assets and distribute them to creditors.

The Official Committee of Unsecured Creditors sought the
conversion.  By the Committee's calculations, assets are
$5.8 million short of covering costs that must be paid in full
before a liquidating Chapter 11 plan could be approved.

The Committee, the Bloomberg report relates, blames the need for
conversion on the "pervasively pernicious conduct of the City of
New York."  The Committee said the city "caused the estates
needlessly to incur millions of dollars in administrative
expenses."

According to Bill Rochelle at Bloomberg News, the city, in court
papers, returned the blame to creditors.  It pointed out that the
"Chapter 11 cases have suddenly morphed from projected full
recovery for unsecured creditors to significant administrative
insolvency."  The city blamed the downfall on "the procedurally
defective, inefficient, heavy handed, redundant, disorganized, and
ineffective handling of the estates' administration."

Creditors are still awaiting a decision by the District Court on
the last of the restaurant's major assets: the Tavern on the Green
name, which has been valued at $19 million.  A federal judge is
weighing whether New York City -- Tavern's landlord -- or the
family of the flamboyant restaurateur Warner LeRoy, which ran the
restaurant since 1976, owns the trademark.

Lawyers for the company sought to delay a decision on conversion
to a liquidation from a Chapter 11 reorganization until after that
ruling.

                    About Tavern on the Green

Tavern on the Green LP is the operator of the 75-year-old
restaurant in New York's Central Park.  Tavern on the Green, the
second-highest grossing restaurant in the U.S. last year, was
founded in 1934 by New York Parks Commissioner Robert Moses and
the license was bought by restaurateur Warner LeRoy in 1974.

The Company filed for Chapter 11 on September 9, 2009 (Bankr.
S.D.N.Y. Case No. 09-15450).  It listed assets and debts of as
much as $50 million each.


TAVERN ON THE GREEN: Has Potential Bidder for Trademark
-------------------------------------------------------
Don Jeffrey at Bloomberg News reports that Tavern on the Green LP
told the Bankruptcy Court it has a "potential bidder" for rights
to the name of the restaurant in New York's Central Park, Keith
Costa.  The potential bidder was not revealed.

U.S. District Judge Miriam Goldman Cedarbaum has not yet issued a
decision on a lawsuit involving the rights to the name, which has
been valued at $19 million.  A federal judge is weighing whether
New York City -- Tavern's landlord -- or the family of the
flamboyant restaurateur Warner LeRoy, which ran the restaurant
since 1976, owns the trademark.

                    About Tavern on the Green

Tavern on the Green LP is the operator of the 75-year-old
restaurant in New York's Central Park.  Tavern on the Green, the
second-highest grossing restaurant in the U.S. last year, was
founded in 1934 by New York Parks Commissioner Robert Moses and
the license was bought by restaurateur Warner LeRoy in 1974.

The Company filed for Chapter 11 on September 9, 2009 (Bankr.
S.D.N.Y. Case No. 09-15450).  It listed assets and debts of as
much as $50 million each.


TELCORDIA TECHNOLOGIES: Moody's Affirms B3 Ratings
--------------------------------------------------
Moody's Investors Service revised Telcordia Technologies Inc.'s
rating outlook to stable from negative and affirmed its B3
ratings.  The outlook revision was driven by anticipated improving
performance as well as completion of a new five year contact with
Verizon.

The B3 corporate family rating continues to reflect the high
leverage given the long term challenges the company faces in
replacing its declining legacy RBOC business.  The company has
developed fairly exclusive relationships with the RBOCs supporting
their legacy circuit switched networks, but faces larger better
capitalized competitors in providing software for next generation
networks.  There is some indication that the legacy software may
prove somewhat resilient as it is deeply entrenched in the
operations of the carriers and may be modified to handle new
services.  The company also faces strong competition in its other
business lines including prepaid billing tracking and number
portability services but is showing some success in winning
business despite a fairly competitive environment.  Leverage
levels are suggestive of higher rated software companies, however,
free cash flow and long term growth uncertainties are more
reflective of a B3 rating.

Leverage as of October 31, 2009, was 5.5x (and estimated in the
low 5's as of January 31, 2010 FYE) on a Moody's adjusted basis
and free cash flow to debt was 0.6% both of which are expected to
improve over the next year as international carrier build outs
continue and domestic carrier spending is expected to be flat to
moderately higher.  Moody's leverage calculation differs from
covenant defined levels due to adjustments for pensions and leases
(notably excluding pension gains included in the covenant
definition of EBITDA).  Ratings could face upward pressure if
Telcordia's operations support systems business shows stability,
leverage continues to improve and free cash flow to debt is
sustainably above 5%.

These ratings were affirmed:

  -- Corporate family rating: B3
  -- Probability of default: B3
  -- "First Out" Senior Secured Revolver due 2012, Ba3 (LGD1 - 2%)
  -- Senior Secured Floating Rate Notes due 2012, B2 (LGD3 - 38%)
  -- Senior Subordinated Notes due 2013 rated Caa2 (LGD5 - 87%)

Moody's most recent rating action was June 18, 2007 when Moody's
assigned ratings to the current debt facilities.

Telcordia Technologies Inc. is a major provider of operations
support systems software and network systems products for
telecommunications providers.  The company is headquartered in
Piscataway, New Jersey.


TERRA INDUSTRIES: Fitch Puts Issuer Ratings on Evolving Watch
-------------------------------------------------------------
Fitch Ratings has placed the Issuer Default Ratings and
outstanding debt ratings of Terra Industries, Inc., and its
subsidiaries back on Rating Watch Evolving following a renewed bid
by CF Industries Holdings, Inc., to acquire the company.  CFI's
offer is $47.40 per common share ($37.15 per share in cash plus
0.0953 common shares of CFI).  CFI's proposal responds to an
agreement reached in February between TRA and Yara International
ASA to merge in an all-cash offer of $41.10 per common share of
TRA.  CFI had previously dropped its year-long effort to acquire
TRA last January.  Subsequently Fitch had restored TRA's Rating
Outlook to Stable.

If CFI's latest offer were successful, the combined pro forma
leverage of CFI and TRA would increase modestly, but would remain
below 2.0 times (x) net debt/EBITDA using 2009 data (a bleak year)
without merger synergies.  CFI intends to finance the cash portion
of its offer, approximately $3.7 billion, with $1 billion in
equity and the balance with debt and cash on hand.  The value of
CFI's bid is $4.7 billion for TRA's equity versus Yara's bid of
$4.1 billion.  At year-end 2009 TRA had net debt of around
$100 million ($602 million in debt less $502 million in cash) and
earned $396 million in EBITDA for the year.  CFI earned
$791 million in EBITDA in 2009 with almost no debt and nearly
$900 million in cash.  Yara earned approximately $930 million in
EBITDA in 2009 using current exchange rates.

The Rating Watch Evolving recognizes a wide range of possible
outcomes which could influence TRA's capital structure, some of
which could be neutral or positive and others which could be
negative.  Resolution of TRA's Rating Watch status will follow a
definitive conclusion of merger terms and parties concerned.

Fitch places these ratings on Rating Watch Evolving:

Terra Industries

  -- IDR 'BB'.

Terra Capital

  -- IDR 'BB';
  -- Senior unsecured notes 'BB';
  -- Senior secured bank credit 'BB+'.

Terra Nitrogen, L.P.

  -- IDR 'BB';
  -- Senior secured bank credit 'BB+'.


THORNBURG MORTGAGE: Executives Sued by Chapter 11 Trustee
---------------------------------------------------------
Joel I Sher, the trustee overseeing the liquidation of TMST Inc.,
formerly Thornburg Mortgage Inc., sued company executives
contending they conspired to start a new business using cash and
information taken from Thornburg.  The trustee seeks "redress for
the millions of dollars in damages" the senior officers have
allegedly caused the Debtors.

"Faced with an impending bankruptcy, two of the Debtors' senior
officers, together with one of the Debtors' most trusted
attorneys, embarked upon a multi-faceted conspiracy in which they
converted substantial amounts of the Debtors' cash, proprietary
and confidential information and used the Debtors' personnel and
fixed assets to start up a secret new business venture, the
concept for which was first developed by the Debtors as a way to
avoid financial ruin," the trustee said in the complaint.

According to Mr. Sher, the Senior Officers provided TMST's Board
of Directors and restructuring professionals with
misrepresentations and half-truths, and failed to candidly
disclose material facts, all in order to try and obtain the
blessings of the Board of Directors and those professionals for
certain actions that the Defendants took in implementing their
secret venture.

The complaint alleges that the Senior Officers (i) amended a
management agreement between TMST and TMAC in order to transfer
millions of dollars to TMAC and then lied to the board about the
reason for the amendment, (ii) needlessly paid hundreds of
thousands of dollars to vendors so that the vendors? products
would be available for their new venture, (iii) illegally paid
themselves hundreds of thousands of dollars in unauthorized
bonuses on the eve of bankruptcy, (iv) secretly transferred the
Debtors' confidential and proprietary information to their new
venture, (v) used millions of dollars of the Debtors' work product
for their new venture without compensating the Debtors, (vi) used
the Debtors' employees and resources post petition to start up
their new venture, (vii) paid themselves excessive post petition
salaries while they were primarily engaged in promoting their new
venture, and (viii) engaged in a grand scheme to hide and cover up
their actions.

                     About Thornburg Mortgage

Based in Santa Fe, New Mexico, Thornburg Mortgage Inc. (NYSE: TMA)
-- http://www.thornburgmortgage.com/-- was a single-family
residential mortgage lender focused principally on prime and
super-prime borrowers seeking jumbo and super-jumbo adjustable
rate mortgages.  It originated, acquired, and retained investments
in adjustable and variable rate mortgage assets.  Its ARM assets
comprised of purchased ARM assets and ARM loans, including
traditional ARM assets and hybrid ARM assets.

Thornburg Mortgage, Inc., and its four affiliates filed for
Chapter 11 on May 1 (Bankr. D. Md. Lead Case No. 09-17787).
Thornburg has changed its name to TMST, Inc.

Judge Duncan W. Keir is handling the case.  David E. Rice, Esq.,
at Venable LLP, in Baltimore, Maryland, has been tapped as
counsel.  Orrick, Herrington & Sutcliffe LLP is employed as
special counsel.  Jim Murray, and David Hilty, at Houlihan Lokey
Howard & Zukin Capital, Inc., have been tapped as investment
banker and financial advisor.  Protiviti Inc. has also been
engaged for financial advisory services.  KPMG LLP is the tax
consultant.  Epiq Systems, Inc., is claims and noticing agent.  In
its bankruptcy petition, Thornburg listed total assets of
$24,400,000,000 and total debts of $24,700,000,000, as of
January 31, 2009.

On October 28, 2009, the Court approved the appointment of Joel I.
Sher as the Chapter 11 Trustee for the Company, TMST Acquisition
Subsidiary, Inc., TMST Home Loans, Inc. and TMST Hedging
Strategies, Inc.


TLC VISION: Shareholders Seek Official Committee
------------------------------------------------
netDocket reports that a group of TLC Vision (USA) Corporation's
shareholders holding 12% -- or 6 million shares -- of the
company's equity asks Judge Kevin Gross of the U.S. Bankruptcy
Court for the District of Delaware to appoint an Official
Committee of Equity Security Holders in the case.

The group is represented by Cooley Godward Kronish LLP and
Benesch, Friedlander, Coplan & Aronoff LLP.  The members of the
group are:

     * Strategic Turnaround Opportunity Fund, L.P.
     * Strategic Turnaround Equity Partners, L.P. (Cayman)
     * Rexon Galloway Capital Growth, LLC
     * Trinad Capital Master Fund Ltd.
     * Red Oak Fund, L.P.
     * Pinnacle Fund, LLLP
     * Bruce Galloway Rollover IRA
     * Sara Galloway Rollover IRA
     * Gary Herman IRA
     * Inventron, Ltd. (Energy)
     * Lorraine Herman
     * Larry Hopfensinger

According to netDockets, the group asserts that "it is clear that
the Debtors' 700 equity holders are in the money."  netDockets
says the group points to the increasing return for unsecured
creditors in recent plan support agreements (100%) versus earlier
plan support agreements (10%) and the fact that the most recent
plan support agreement, which is between TLC Vision, Charlesbank
Equity Fund IV, Limited Partnership and HIG Middle Market LLC --
which is an affiliate of the Debtors' majority prepetition lender
-- provides for a small recovery for equity holders if unsecured
creditors vote in favor of the proposed plan.

The shareholder group, according to netDockets, argues that the
appointment of an equity committee is necessary to protect the
interests of equity holders because TLC Vision is primarily
focused on confirming a plan of reorganization.  Despite TLC
Vision owing a fiduciary duty to its shareholders, the group
contends that the debtors "cannot adequately represent the
interests of equity while maintaining the support of their
creditor constituents, including HIG, for the existing plan
process" because HIG "has a vested interest in freezing equity
holders out of the process altogether."

netDocket recalls that the Debtor filed a pre-negotiated plan of
reorganization together with its Chapter 11 petition.  The plan
was supported by the holders of 56% of the claims arising under
TLC's prepetition senior credit facility.  The plan provided that
the senior debt would be refinanced into $80 million in secured
notes and 100% of the reorganized equity.  Unsecured creditors
were to receive their pro rata share of a cash pool or 10% of the
allowed amount of their claim (whichever was less) and equity
holders would receive nothing.  TLC Vision retained a "fiduciary
out" to enter into a competing plan support agreement if certain
conditions were met and utilized that out to enter into a plan
sponsor agreement in early February with Charlesbank Equity Fund
IV.  That alternative plan agreement provided for a 15% increase
in the cash pool made available to unsecured creditors and removal
of the 10% recovery cap, as well as $287,500 for equity holders
(if unsecured creditors supported the plan).

In response, netDocket continues, HIG Middle Market made a
superior competing offer and, subsequently, Charlesbank and HIG
agreed to co-sponsor a further modified plan which would provide
even greater recoveries to general unsecured creditors: 90% of
their allowed claim in cash (up to a maximum of $9 million total)
and 10% of their allowed claim paid in a note due one year from
the effective date of the plan ($3 million maximum).  The plan
estimates that unsecured claims will total less than $7.5 million,
suggesting that the caps on the payments will not come into play
(TLC's schedules of liabilities reflect over $14 million in
unsecured claims).  Equity holders would still receive their pro
rata share of $287,500 and, again, only if unsecured creditors
voted in favor of confirmation of the plan.

A full-text copy of the amended Disclosure Statement is available
for free at http://bankrupt.com/misc/TLCVision_AmendedDS.pdf

A full-text copy of the amended Plan of Reorganization is
available for free at:

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

TLCVision -- http://www.tlcvision.com/-- is North America's
premier eye care services company, providing eye doctors with the
tools and technologies needed to deliver high-quality patient
care. Through its centers' management, technology access service
models, extensive optometric relationships, direct to consumer
advertising and managed care contracting strength, TLCVision
maintains leading positions in Refractive, Cataract and Eye Care
markets.

TLC Vision (USA) Corporation, and two of its corporate affiliates
filed petitions for Chapter 11 on Dec. 21, 2009 (Bankr. D. Del.
Case No. 09-14473).  The petition says assets and debts are
$100 million to $500 million.

The Company's lead U.S. restructuring counsel is the law firm of
Proskauer Rose LLP and Canadian restructuring counsel is the law
firm of Torys LLP.  The Company's financial advisor is Conway Del
Genio Gries & Co., LLC.  Epiq Bankruptcy Solutions is claims and
notice agent.


TRILOGY INTERNATIONAL: S&P Junks Rating on Senior Secured Loan
--------------------------------------------------------------
Moody's Investors Service lowered the rating on the senior secured
term loan of Trilogy International Partners LLC to Caa1 from B3
based on the increase in liabilities ranked senior to the term
loan.

Trilogy executed a $40 million (unrated) secured loan at its
Bolivian subsidiary (NuevaTel PCS de Bolivia S.A.).  Moody's
considers this loan senior to the rated $250 million secured term
loan at Trilogy International Partners (TIP term loan); TIP term
loan lenders have security in domestic subsidiaries only, and the
assets of these domestic subsidiaries consist of shares only.  In
Moody's opinion, stock pledges have value only to the extent that
no material liabilities exist at the subsidiary whose stock is
being pledged, and foreign jurisdiction of the subsidiaries could
complicate access to the assets.  In Trilogy's case, the
$40 million term loan creates another liability ahead of the TIP
term loan, in addition to the trade payables residing at the
operating level.  Moody's prioritize the trade payables and the
new NuevaTel term loan ahead of the TIP term loan.  As such,
Moody's now rates the TIP term loan Caa1, one notch below the B3
corporate family rating.

All ratings (including the B3 corporate family and B3 probability
of default ratings) remain under review for downgrade.
Notwithstanding the modest improvement in liquidity provided by
the NuevaTel loan, Moody's remains concerned about continued
uncertainty regarding the timeframe for and ability of management
to turn around operations in the Dominican Republic, the impact of
the New Zealand launch on Trilogy's liquidity profile, and the
operational impact of the earthquake in Haiti.

The review will focus on the damage that the earthquake caused to
Trilogy's wireless telecommunications network; impact on the
subscriber base; permanent impact on the economic vitality of the
City of Port-au-Prince and Republic of Haiti; cost of
reconstructing damaged equipment; timing and magnitude of any
external financing to help with the reconstruction as well as
funding the overall business; and financial flexibility to cover
any costs incurred.  Liquidity remains a primary concern, and
Moody's will assess the company's strategic plans given the need
to support remediation efforts in Haiti, the ongoing capital
intensive turnaround in the Dominican Republic, and the launch of
operations in New Zealand.

Trilogy International Partners LLC

  -- Senior Secured Bank Credit Facility, Downgraded to Caa1,
     LGD4, 64% from B3, LGD4, 60%

Outlook: Under Review for Downgrade

The most recent rating action for Trilogy International Partners
LLC was on January 20, 2010, when Moody's placed all Trilogy
ratings under review for downgrade.

Based in Bellevue, WA, Trilogy International Partners LLC provides
wireless communication services to over 3 million subscribers in
Bolivia, Haiti, the Dominican Republic, and New Zealand.


TROPICANA ENTERTAINMENT: NJCC Approves Sale of Casino to Icahn
--------------------------------------------------------------
The New Jersey Casino Control Commission approved the acquisition
of the New Jersey Tropicana Casino & Resort by an entity owned 46%
by affiliates of Carl C. Icahn.  That approval clears the way for
the entire Tropicana organization to emerge from bankruptcy, in a
transaction that is expected to be completed early next week.  Mr.
Icahn said that he was extremely pleased that the Casino Control
Commission's approval had been granted and that he wished to thank
the New Jersey Casino Control Commission, as well as the Division
of Gaming Enforcement, for working so assiduously.

Regarding the Tropicana's New Jersey operation, Mr. Icahn noted
that "there will undoubtedly be tough sledding ahead for Atlantic
City, especially in light of the increasing competition from
neighboring states.  However, I believe that Atlantic City, with
its beautiful beaches, can again become a premier destination
resort.  For this to come to fruition, casino hotels must invest
capital not only in their own resorts but also in 'major events'
that will draw gamblers away from competing states."  Mr. Icahn
added that because it will emerge with only minimal debt, the
Tropicana will not only be able to survive but will be in a
position to make the investments necessary to succeed.

Mr. Icahn also expressed his appreciation to the casino
commissions and regulators in Indiana, Louisiana, Mississippi and
Nevada, in which the Tropicana operates, for all of their hard
work in completing the approval process.  "I look forward with
great optimism to the future of the Tropicana," Mr. Icahn stated.

                   About Tropicana Entertainment

Tropicana Entertainment LLC and its units owned eleven casino
properties in eight distinct gaming markets with premier
properties in Las Vegas, Nevada, and Atlantic City, New Jersey.

Tropicana Entertainment LLC and certain affiliates filed for
Chapter 11 protection on May 5, 2008 (Bankr. D. Del. Case No. 08-
10856).  Kirkland & Ellis LLP and Mark D. Collins, Esq., at
Richards Layton & Finger, represent the Debtors in their
restructuring efforts.  Their financial advisor is Lazard Ltd.
Their notice, claims, and balloting agent is Kurtzman Carson
Consultants LLC.  Epiq Bankruptcy Solutions LLC is the Debtors'
Web site administration agent.  AlixPartners LLP is the Debtors'
restructuring advisor.  Stroock & Stroock & Lavan LLP and Morris
Nichols Arsht & Tunnell LLP represent the Official Committee of
Unsecured Creditors in this case.  Capstone Advisory Group LLC is
financial advisor to the Creditors' Committee.

The OpCo Debtors, a group of Tropicana entities owning casinos and
resorts in Atlantic City, New Jersey and Evansville, Indiana have
obtained confirmation from the Bankruptcy Court of a
reorganization plan.  A group of Tropicana entities, known as the
LandCo Debtors, which own Tropicana casino property in Las Vegas,
have obtained approval of a separate Chapter 11 plan.

On April 29, 2009, non-debtor units of the OpCo Debtors,
designated as the New Jersey Debtors -- Adamar of New Jersey,
Inc., and its affiliate, Manchester Mall, Inc. -- filed for
Chapter 11 (Bankr. D. N.J. Lead Case No. 09- 20711) to effectuate
a sale of the Atlantic City Resort and Casino to a group of
Investors-led by Carl Icahn.   Judge Judith H. Wizmur presides
over the cases.  Manchester Mall is a wholly owned subsidiary of
Adamar that owns and operates certain real property utilized in
the New Jersey Debtors' business operations.

Ilana Volkov, Esq., and Michael D. Sirota, Esq., at Cole, Schotz,
Meisel, Forman & Leonard, in Hackensack, New Jersey, represent the
New Jersey Debtors.  Kurtzman Carson Consultants LLC acts as their
claims and notice agent.  Adamar disclosed $500 million to
$1 billion both in total assets and debts in its petition.
Manchester Mall disclosed $1 million to $10 million in total
assets, and less than $50,000 in total debts in its petition.

Bankruptcy Creditors' Service, Inc., publishes Tropicana
Bankruptcy News.  The newsletter tracks the chapter 11
restructuring proceedings commenced by Tropicana Entertainment LLC
and its affiliates.  (http://bankrupt.com/newsstand/or
215/945-7000)


TROPICANA ENTERTAINMENT: Aztar Evansville Could Get Name Change
---------------------------------------------------------------
Casino Aztar Evansville, a riverboat casino located in
Evansville, Indiana, could get a name change, among other things,
according to Tristatehomepage.com.

"The long term strategy I expect would be a Tropicana brand so it
would have an identity throughout the Country,"
Tristatehomepage.com quoted Casino Aztar General Manager Grady
Aitken as saying.

Aztar Marketing Director Stacey McNeill told wfie.com that "they
are looking at names like 'Tropicana' or Trop-Evansville.'"

Along with a name change, Casino Aztar will sport an improved
look.  Sarah Fortune of Tristatehomepage.com noted that as
Tropicana emerges from bankruptcy, new funds will be available
"to improve the look" of Casino Aztar.  Tropicana Entertainment
is expected to take full ownership of the casino within two
months.

A plan is underway that has allowed Casino Aztar to introduce new
games and other property upgrades, wfie.com related in a separate
report.

                   About Tropicana Entertainment

Tropicana Entertainment LLC and its units owned eleven casino
properties in eight distinct gaming markets with premier
properties in Las Vegas, Nevada, and Atlantic City, New Jersey.

Tropicana Entertainment LLC and certain affiliates filed for
Chapter 11 protection on May 5, 2008 (Bankr. D. Del. Case No. 08-
10856).  Kirkland & Ellis LLP and Mark D. Collins, Esq., at
Richards Layton & Finger, represent the Debtors in their
restructuring efforts.  Their financial advisor is Lazard Ltd.
Their notice, claims, and balloting agent is Kurtzman Carson
Consultants LLC.  Epiq Bankruptcy Solutions LLC is the Debtors'
Web site administration agent.  AlixPartners LLP is the Debtors'
restructuring advisor.  Stroock & Stroock & Lavan LLP and Morris
Nichols Arsht & Tunnell LLP represent the Official Committee of
Unsecured Creditors in this case.  Capstone Advisory Group LLC is
financial advisor to the Creditors' Committee.

The OpCo Debtors, a group of Tropicana entities owning casinos and
resorts in Atlantic City, New Jersey and Evansville, Indiana have
obtained confirmation from the Bankruptcy Court of a
reorganization plan.  A group of Tropicana entities, known as the
LandCo Debtors, which own Tropicana casino property in Las Vegas,
have obtained approval of a separate Chapter 11 plan.

On April 29, 2009, non-debtor units of the OpCo Debtors,
designated as the New Jersey Debtors -- Adamar of New Jersey,
Inc., and its affiliate, Manchester Mall, Inc. -- filed for
Chapter 11 (Bankr. D. N.J. Lead Case No. 09- 20711) to effectuate
a sale of the Atlantic City Resort and Casino to a group of
Investors-led by Carl Icahn.   Judge Judith H. Wizmur presides
over the cases.  Manchester Mall is a wholly owned subsidiary of
Adamar that owns and operates certain real property utilized in
the New Jersey Debtors' business operations.

Ilana Volkov, Esq., and Michael D. Sirota, Esq., at Cole, Schotz,
Meisel, Forman & Leonard, in Hackensack, New Jersey, represent the
New Jersey Debtors.  Kurtzman Carson Consultants LLC acts as their
claims and notice agent.  Adamar disclosed $500 million to
$1 billion both in total assets and debts in its petition.
Manchester Mall disclosed $1 million to $10 million in total
assets, and less than $50,000 in total debts in its petition.

Bankruptcy Creditors' Service, Inc., publishes Tropicana
Bankruptcy News.  The newsletter tracks the chapter 11
restructuring proceedings commenced by Tropicana Entertainment LLC
and its affiliates.  (http://bankrupt.com/newsstand/or
215/945-7000)


TROPICANA ENTERTAINMENT: Union Fund Asks Lift Stay to Pursue Claim
------------------------------------------------------------------
The fiduciaries of the Hotel Employees and Restaurant Employees
International Union Welfare Fund and the Southern Nevada Culinary
and Bartenders Pension Trust Fund ask the Bankruptcy Court to
lift the automatic stay so that they may pursue their claims
against Tropicana Las Vegas, Inc., in an action pending United
States District Court for the District of Nevada.

The LandCo Debtors are successor entities to Hotel Ramada of
Nevada, Inc., which is a party to certain labor agreements with
the Culinary Workers Union, Local 226, of which the Culinary
Trust Funds are intended beneficiaries, Sara D. Cope, Esq., at
Christensen James & Martin, in Las Vegas, Nevada, relates.

The Chapter 11 Plans of the LandCo Debtors have been confirmed
and declared effective as of July 1, 2009.

The LandCo Debtors formed a new entity, the Tropicana LV, and
affirmatively assumed and assigned the Labor Agreements to the
new entity.  The assumption and assignment of the Labor
Agreements was confirmed in a letter to the Union dated August 1,
2009.  As a successor entity to the Labor Agreement, Tropicana LV
is bound by its terms and conditions, according to Ms. Cope.

The Culinary Trust Funds thus seek the enforcement of the
provisions of the Labor Agreement.  Among other things, the Labor
Agreement requires payment of certain fringe benefit
contributions for work covered under the Agreement, and for the
cooperation with any audit deemed necessary and proper by the
Trust Funds.

On October 21, 2009, the Culinary Trust Funds filed a complaint
in the Nevada District Court against Tropicana LV and certain
other parties for payment of delinquent fringe benefit
contributions due and owing under the Labor Agreement, and to
compel cooperation with an audit.  Ms. Cope discloses that the
Complaint has not yet been served on Tropicana LV.

While the Culinary Trust Funds maintain that Tropicana LV is not
afforded protection by Section 362 of the Bankruptcy Code, out of
an abundance of caution, they seek the Bankruptcy Court's
permission to serve Tropicana LV with the Complaint and to
proceed with their claims in the District Court case.  Ms. Cope
emphasizes that even if Tropicana LV is entitled to Section 362
protection, the Culinary Trust Funds have effectively preserved
their claims in the bankruptcy action.

The Culinary Trust Funds filed a proof of claim preserving their
right to complete a compliance audit and pursue any claims
discovered by the audit on September 25, 2008, according to Ms.
Cope.

She adds that the Culinary Trust Funds responded to the Debtors'
Fifteenth Omnibus Objection on June 4, 2009, withdrawing their
claim for "known delinquencies" and specifically preserving their
right to receive monthly contribution reports, to receive monthly
payments, and to conduct a compliance audit and pursue any claims
discovered.

                   About Tropicana Entertainment

Tropicana Entertainment LLC and its units owned eleven casino
properties in eight distinct gaming markets with premier
properties in Las Vegas, Nevada, and Atlantic City, New Jersey.

Tropicana Entertainment LLC and certain affiliates filed for
Chapter 11 protection on May 5, 2008 (Bankr. D. Del. Case No. 08-
10856).  Kirkland & Ellis LLP and Mark D. Collins, Esq., at
Richards Layton & Finger, represent the Debtors in their
restructuring efforts.  Their financial advisor is Lazard Ltd.
Their notice, claims, and balloting agent is Kurtzman Carson
Consultants LLC.  Epiq Bankruptcy Solutions LLC is the Debtors'
Web site administration agent.  AlixPartners LLP is the Debtors'
restructuring advisor.  Stroock & Stroock & Lavan LLP and Morris
Nichols Arsht & Tunnell LLP represent the Official Committee of
Unsecured Creditors in this case.  Capstone Advisory Group LLC is
financial advisor to the Creditors' Committee.

The OpCo Debtors, a group of Tropicana entities owning casinos and
resorts in Atlantic City, New Jersey and Evansville, Indiana have
obtained confirmation from the Bankruptcy Court of a
reorganization plan.  A group of Tropicana entities, known as the
LandCo Debtors, which own Tropicana casino property in Las Vegas,
have obtained approval of a separate Chapter 11 plan.

On April 29, 2009, non-debtor units of the OpCo Debtors,
designated as the New Jersey Debtors -- Adamar of New Jersey,
Inc., and its affiliate, Manchester Mall, Inc. -- filed for
Chapter 11 (Bankr. D. N.J. Lead Case No. 09- 20711) to effectuate
a sale of the Atlantic City Resort and Casino to a group of
Investors-led by Carl Icahn.   Judge Judith H. Wizmur presides
over the cases.  Manchester Mall is a wholly owned subsidiary of
Adamar that owns and operates certain real property utilized in
the New Jersey Debtors' business operations.

Ilana Volkov, Esq., and Michael D. Sirota, Esq., at Cole, Schotz,
Meisel, Forman & Leonard, in Hackensack, New Jersey, represent the
New Jersey Debtors.  Kurtzman Carson Consultants LLC acts as their
claims and notice agent.  Adamar disclosed $500 million to
$1 billion both in total assets and debts in its petition.
Manchester Mall disclosed $1 million to $10 million in total
assets, and less than $50,000 in total debts in its petition.

Bankruptcy Creditors' Service, Inc., publishes Tropicana
Bankruptcy News.  The newsletter tracks the chapter 11
restructuring proceedings commenced by Tropicana Entertainment LLC
and its affiliates.  (http://bankrupt.com/newsstand/or
215/945-7000)


TROPICANA ENTERTAINMENT: Fee Auditor Issue Report on Fee Apps.
--------------------------------------------------------------
Warren H. Smith & Associates, P.C., the Court-appointed fee
auditor in the Debtors' cases, delivered to the Court his final
report on the fee applications of two more bankruptcy
professionals retained in the Debtors' cases for the fourth
and fifth interim fee periods, as well as final fee applications.
Pursuant to the findings in its report, the Fee Auditor
recommends the approval of these fees and expenses:

                          Requested           Recommended
                   --------------------- ---------------------
Professional           Fees     Expenses     Fees    Expenses
------------       -----------  -------- ----------- ---------
Capstone Advisory     $236,912    $3,606    $236,912    $3,606
Group LLP
Creditors Committee's
Financial Advisors
Period: 02/01/09-04/30/09

Capstone Advisory       30,709        78      30,709        78
Group LLP
Creditors Committee's
Financial Advisors
Period: 05/01/09-06/30/09

Capstone Advisory    3,952,387    97,523   3,952,387    97,278
Group LLP
Creditors Committee's
Financial Advisors
Period: 05/22/08-06/30/09

Paul, Hastings,         15,321     1,431      15,321     1,413
Janofsky & Walker LLP
Board of Directors
Litigation
Committee's Counsel
Period: 02/01/09-04/30/09

Paul, Hastings,          4,796        30       4,796        30
Janofsky & Walker LLP
Board of Directors
Litigation
Committee's Counsel
Period: 05/01/09-06/30/09

Paul, Hastings,        844,413    35,985     837,155    33,952
Janofsky & Walker LLP
Board of Directors
Litigation
Committee's Counsel
Period: 07/28/08-07/31/09

The Fee Auditor also amended its final report with respect to
the Regulatory and Gaming Counsel of the Official Committee of
Unsecured Creditors, to include all five professionals.

                         Requested           Recommended
                   --------------------- ---------------------
Professional           Fees     Expenses     Fees    Expenses
------------       -----------  -------- ----------- ---------
Bose McKinney &        $20,366       $14     $17,791       $14
Evans LLP
Committee's counsel
Period:
09/19/08-02/28/09

Lionel Sawyer &         10,580     1,108      10,580       792
Collins
Committee's counsel
Period:
09/30/08-02/28/09

McGlinchey Stafford     11,937        37      11,937        37
PLLC
Committee's counsel
Period:
08/11/08-02/28/09

Sills Cummis & Gross    11,150         6      10,994         6
P.C.
Committee's counsel
Period:
02/06/09-02/28/09

Watkins Ludlam Winter    2,576        59       2,576        59
& Stennis, P.A.
Committee's counsel
Period:
09/30/08-02/28/09

                   About Tropicana Entertainment

Tropicana Entertainment LLC and its units owned eleven casino
properties in eight distinct gaming markets with premier
properties in Las Vegas, Nevada, and Atlantic City, New Jersey.

Tropicana Entertainment LLC and certain affiliates filed for
Chapter 11 protection on May 5, 2008 (Bankr. D. Del. Case No. 08-
10856).  Kirkland & Ellis LLP and Mark D. Collins, Esq., at
Richards Layton & Finger, represent the Debtors in their
restructuring efforts.  Their financial advisor is Lazard Ltd.
Their notice, claims, and balloting agent is Kurtzman Carson
Consultants LLC.  Epiq Bankruptcy Solutions LLC is the Debtors'
Web site administration agent.  AlixPartners LLP is the Debtors'
restructuring advisor.  Stroock & Stroock & Lavan LLP and Morris
Nichols Arsht & Tunnell LLP represent the Official Committee of
Unsecured Creditors in this case.  Capstone Advisory Group LLC is
financial advisor to the Creditors' Committee.

The OpCo Debtors, a group of Tropicana entities owning casinos and
resorts in Atlantic City, New Jersey and Evansville, Indiana have
obtained confirmation from the Bankruptcy Court of a
reorganization plan.  A group of Tropicana entities, known as the
LandCo Debtors, which own Tropicana casino property in Las Vegas,
have obtained approval of a separate Chapter 11 plan.

On April 29, 2009, non-debtor units of the OpCo Debtors,
designated as the New Jersey Debtors -- Adamar of New Jersey,
Inc., and its affiliate, Manchester Mall, Inc. -- filed for
Chapter 11 (Bankr. D. N.J. Lead Case No. 09- 20711) to effectuate
a sale of the Atlantic City Resort and Casino to a group of
Investors-led by Carl Icahn.   Judge Judith H. Wizmur presides
over the cases.  Manchester Mall is a wholly owned subsidiary of
Adamar that owns and operates certain real property utilized in
the New Jersey Debtors' business operations.

Ilana Volkov, Esq., and Michael D. Sirota, Esq., at Cole, Schotz,
Meisel, Forman & Leonard, in Hackensack, New Jersey, represent the
New Jersey Debtors.  Kurtzman Carson Consultants LLC acts as their
claims and notice agent.  Adamar disclosed $500 million to
$1 billion both in total assets and debts in its petition.
Manchester Mall disclosed $1 million to $10 million in total
assets, and less than $50,000 in total debts in its petition.

Bankruptcy Creditors' Service, Inc., publishes Tropicana
Bankruptcy News.  The newsletter tracks the chapter 11
restructuring proceedings commenced by Tropicana Entertainment LLC
and its affiliates.  (http://bankrupt.com/newsstand/or
215/945-7000)


TW TELECOM: Moody's Assigns 'B2' Rating on $430 Mil. Notes
----------------------------------------------------------
Moody's Investors Service has assigned a B2 rating to the proposed
$430 million senior unsecured notes offering at tw telecom
holdings inc., a wholly owned subsidiary of tw telecom Inc. The
Company plans to use the majority of the net proceeds from the
proposed debt issuance to refinance $400 million of senior
unsecured notes at TWTH.  The new notes will have a 8-year
maturity.  While the transaction is not expected to impact TWTC's
credit metrics, the extended maturity of a significant portion of
its debt will enhance the Company's already very good liquidity.
Moody's believes that a successful execution of the notes offering
will better align the Company's debt maturity profile with its
assets, which are mainly long-term.

As part of the rating action, Moody's also affirmed the B1
corporate family and probability-of-default ratings of TWTC, and
its SGL-1 liquidity rating.  The ratings for existing senior debt
did not change.  The outlook for ratings remains stable.

Moody's has taken these rating actions:

At tw telecom holdings Inc.:

* Senior Unsecured Notes due 2018 -- Assigned B2, LGD4 -- 63%

These ratings were affirmed:

At tw telecom Inc.:

* Corporate family rating -- B1
* Probability of Default Rating -- B1
* Speculative grade liquidity rating -- SGL-1
* Convertible senior notes due 2026 -- B3, LGD 5 -- 89%

At tw telecom holdings inc.:

* Sr. Secured Revolver due 2011 -- Ba1, LGD 2 -- 19%

* Sr. Secured Term Loan B due 2013 -- Ba1, LGD 2 -- 19%

* Senior Notes due 2014 -- B2, LGD4 -- 63%, to be withdrawn at
  close

* Outlook -- Stable

TWTC's corporate family rating is solidly positioned in the B1
rating category, which reflects the Company's track record of
strong operating performance driven by the revenue growth in the
enterprise segment and the Company's enhanced operating scale
following the acquisition of Xspedius in 2006 (which expanded its
footprint to 75 of the top 100 markets in the U.S.).  Despite the
severe recession during most of 2009, TWTC's overall revenue and
revenue from the enterprise segment grew 4.5% and 8%,
respectively, reflecting strong execution and the growing demand
for Ethernet and IP-based products from enterprise customers.  The
Company's results reinforce its differentiated business model that
relies on a fiber-rich network with direct connections to major
customers, eliminating the need to rely on incumbent carriers for
a critical portion of its last mile connections.  TWTC carries the
majority of traffic on its own network, which allows the Company
to generate industry-leading EBITDA margins and the ability to
bundle other telecommunications products and services, which in
turn reduces churn.  The rating is tempered by elevated levels of
capital spending that are inherent to TWTC's business model, its
high leverage and the Company's challenging competitive position.

Moody's most recent rating action for TWTC was on May 4, 2009,
when Moody's raised the Company's corporate family rating to B1
and changed the rating outlook to stable from stable.

tw telecom Inc., headquartered in Littleton, CO, provides data,
dedicated Internet access, and local and long distance voice
services to business customers and organizations in 75
metropolitan markets in the United States.  The Company generated
$1.2 billion in revenue in 2009.


UAL CORP: Blackrock Reports 5.24% Equity Stake
----------------------------------------------
In a Schedule 13G/A filed with the Securities and Exchange
Commission dated January 20, 2010, BlackRock, Inc., disclosed that
it beneficially owns 8,753,024 shares of UAL Corporation Common
Stock, representing 5.24% of UAL's total outstanding shares.

UAL had 167,040,862 shares of common stock outstanding as of
October 21, 2009.

BlackRock has sole power to vote and dispose of the 8,753,024
shares of UAL common stock.

BlackRock explained that it completed its acquisition of Barclays
Global Investors, NA from Barclays Global Investors from Barclays
Bank Plc. on December 1, 2009.   As a result, BGI and certain of
its affiliates are now included as subsidiaries of BlackRock for
purposes of Schedule 13G filings.

                   About UAL Corporation

Based in Chicago, Illinois, UAL Corporation (NASDAQ: UAUA) --
http://www.united.com/-- is the holding company for United
Airlines, Inc.  United Airlines is the world's second largest air
carrier.  The airline flies to Brazil, Korea and Germany.

The company filed for Chapter 11 protection on Dec. 9, 2002
(Bankr. N.D. Ill. Case No. 02-48191).  James H.M. Sprayregen,
Esq., Marc Kieselstein, Esq., David R. Seligman, Esq., and Steven
R. Kotarba, Esq., at Kirkland & Ellis, represented the Debtors in
their restructuring efforts.  Fruman Jacobson, Esq., at
Sonnenschein Nath & Rosenthal LLP represented the Official
Committee of Unsecured Creditors.  Judge Eugene R. Wedoff
confirmed a reorganization plan for United on Jan. 20, 2006.  The
Company emerged from bankruptcy on Feb. 1, 2006.  (United Airlines
Bankruptcy News; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)

UAL Corp. carries a 'Caa1' probability of default rating from
Moody's, 'B-' long term foreign issuer credit rating from Standard
& Poor's, and 'CCC' long term issuer default rating from Fitch.


UAL CORP: LMM LLC Reports 4.54% Equity Stake
--------------------------------------------
In a regulatory filing with the U.S. Securities and Exchange
Commission dated February 15, 2010, LMM LLC disclosed that it
beneficially owns 7,590,632 shares of UAL Corp. common stock,
representing 4.54% of UAL's total outstanding shares.

UAL had 167,040,862 shares of common stock outstanding as of
October 21, 2009.

LMM said that it has shared voting power and shared dispositive
power of all its shares.

In the same filing, Legg Mason Capital Management, Inc. disclosed
that it beneficially owns 1,948,889 shares of UAL common stock,
representing 1.17% of UAL's outstanding shares.  Legg Mason
Capital Management has shared voting power and shared dispositive
power of all its shares.

                   About UAL Corporation

Based in Chicago, Illinois, UAL Corporation (NASDAQ: UAUA) --
http://www.united.com/-- is the holding company for United
Airlines, Inc.  United Airlines is the world's second largest air
carrier.  The airline flies to Brazil, Korea and Germany.

The company filed for Chapter 11 protection on Dec. 9, 2002
(Bankr. N.D. Ill. Case No. 02-48191).  James H.M. Sprayregen,
Esq., Marc Kieselstein, Esq., David R. Seligman, Esq., and Steven
R. Kotarba, Esq., at Kirkland & Ellis, represented the Debtors in
their restructuring efforts.  Fruman Jacobson, Esq., at
Sonnenschein Nath & Rosenthal LLP represented the Official
Committee of Unsecured Creditors.  Judge Eugene R. Wedoff
confirmed a reorganization plan for United on Jan. 20, 2006.  The
Company emerged from bankruptcy on Feb. 1, 2006.  (United Airlines
Bankruptcy News; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)

UAL Corp. carries a 'Caa1' probability of default rating from
Moody's, 'B-' long term foreign issuer credit rating from Standard
& Poor's, and 'CCC' long term issuer default rating from Fitch.


UAL CORP: Citadel Reports 4% Equity Stake
-----------------------------------------
In a Schedule 13G/A filed with the U.S. Securities and Exchange
Commission dated February 16, 2010, Citadel Advisors LLC disclosed
that it beneficially owns 6,726,927 shares of UAL
Corporation common stock, representing 4% of UAL's total
outstanding shares.

The 4% equity stake is based on 167,040,862 shares of
UAL common stock outstanding as of October 21, 2009, plus 633,057
shares of UAL common stock issuable upon the conversion
of the 6% Convertible Senior Notes due 2029 held by Citadel
Advisors.

Citadel Advisors has shared voting power and dispositive power
Of, and does not have the sole power to dispose of or to direct
the disposition of the 6,726,927 shares.

Moreover, these entities have shared power to dispose of or to
direct the disposition of 6,726,927 shares:

* Citadel Holdings II LP
* Citadel Derivatives Trading Ltd.
* Citadel Equity Fund Ltd.
* Citadel Convertible Opportunities Ltd.
* Citadel Global Equities Master Fund Ltd.
* Citadel Securities LLC
* Citadel Investment Group II, L.L.C.
* Kenneth Griffin

Citadel Advisors is the investment manager for CEF, CCO, CG and
certain segregated accounts, and the portfolio manager for CDT.
CH-II is the managing member of Citadel Advisors.  Citadel
Holdings I LP, is the non-member manager of Citadel Securities.
CIG-II is the general partner of CH-I and CH-II.  Mr. Griffin is
the President and Chief Executive Officer of, and owns a
controlling interest in, CIG-II.

                   About UAL Corporation

Based in Chicago, Illinois, UAL Corporation (NASDAQ: UAUA) --
http://www.united.com/-- is the holding company for United
Airlines, Inc.  United Airlines is the world's second largest air
carrier.  The airline flies to Brazil, Korea and Germany.

The company filed for Chapter 11 protection on Dec. 9, 2002
(Bankr. N.D. Ill. Case No. 02-48191).  James H.M. Sprayregen,
Esq., Marc Kieselstein, Esq., David R. Seligman, Esq., and Steven
R. Kotarba, Esq., at Kirkland & Ellis, represented the Debtors in
their restructuring efforts.  Fruman Jacobson, Esq., at
Sonnenschein Nath & Rosenthal LLP represented the Official
Committee of Unsecured Creditors.  Judge Eugene R. Wedoff
confirmed a reorganization plan for United on Jan. 20, 2006.  The
Company emerged from bankruptcy on Feb. 1, 2006.  (United Airlines
Bankruptcy News; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)

UAL Corp. carries a 'Caa1' probability of default rating from
Moody's, 'B-' long term foreign issuer credit rating from Standard
& Poor's, and 'CCC' long term issuer default rating from Fitch.


UAL CORP: Appaloosa Owns 3.04 Million Shares of Common Stock
------------------------------------------------------------
In a Schedule 13F filed with the Securities and Exchange
Commission dated February 12, 2010, Appaloosa Management L.P.
disclosed that it beneficially owns 3,042,527 shares of UAL
Corporation Common Stock.  The fair market value of these shares
amounts to $39,279.

AMLP also has the sole power to vote on 3,042,527 shares of UAL
common stock.

Appaloosa owns shares 3,396,094,000 of securities of about 48
companies, including UAL.

                   About UAL Corporation

Based in Chicago, Illinois, UAL Corporation (NASDAQ: UAUA) --
http://www.united.com/-- is the holding company for United
Airlines, Inc.  United Airlines is the world's second largest air
carrier.  The airline flies to Brazil, Korea and Germany.

The company filed for Chapter 11 protection on Dec. 9, 2002
(Bankr. N.D. Ill. Case No. 02-48191).  James H.M. Sprayregen,
Esq., Marc Kieselstein, Esq., David R. Seligman, Esq., and Steven
R. Kotarba, Esq., at Kirkland & Ellis, represented the Debtors in
their restructuring efforts.  Fruman Jacobson, Esq., at
Sonnenschein Nath & Rosenthal LLP represented the Official
Committee of Unsecured Creditors.  Judge Eugene R. Wedoff
confirmed a reorganization plan for United on Jan. 20, 2006.  The
Company emerged from bankruptcy on Feb. 1, 2006.  (United Airlines
Bankruptcy News; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)

UAL Corp. carries a 'Caa1' probability of default rating from
Moody's, 'B-' long term foreign issuer credit rating from Standard
& Poor's, and 'CCC' long term issuer default rating from Fitch.


USEC INC: Earns $58.9 Million for Fourth Quarter 2009
-----------------------------------------------------
USEC Inc. reported net income $58.5 million for fourth quarter
2009 compared with a net income of $48.7 million for the same
period a year ago.  For the fourth quarter ended December 31,
2009, USEC earned $49.5 million compared to $25.1 million for the
same quarter of 2008.

The financial results in the full year and fourth quarter reflect
the receipt of approximately $70 million related to a trade case
settlement with Eurodif S.A. and its affiliates.  The volume of
separative work unit sold increased by 30 percent in 2009 due to
the timing of nuclear utility customer refuelings.  A 7 percent
increase in the average price of SWU billed to customers was
offset by higher production costs and purchase costs from Russia,
squeezing gross profit margins to 10.1 percent, which was in line
with USEC guidance.

"We had a solid year of delivering low enriched uranium for our
nuclear utility customers. Our operations were strong and total
revenue exceeded $2 billion for the first time," said John K.
Welch, USEC president and chief executive officer.  "We maintained
our superior record of delivering the nuclear fuel that is
essential to our customers, on time and on specification."

"But it was also a year with disappointments regarding the
American Centrifuge program. While we made progress in several
important areas, we believed our application for a loan guarantee
from the Department of Energy was on track for a conditional
commitment in 2009.  That didn't happen. We demobilized
construction of the American Centrifuge Plant in August and we are
now focused on addressing the technical and financial concerns of
the DOE in the first half of 2010," Mr. Welch said.

                              Revenue

Revenue for the fourth quarter was $467.6 million, an increase of
8 percent compared to the same quarter of 2008.  Revenue from the
sale of SWU for the quarter was $380.8 million compared to $314.3
million in the same period last year.  The volume of SWU sales
increased 11 percent in the quarter while average prices billed to
customers increased 9 percent.  Revenue from the sale of uranium
was $30.5 million, a decrease of $32.1 million from the same
quarter last year.  The quarterly results reflect a decrease of 24
percent in uranium volume sold at average prices that were more
than 36 percent lower than in the 2008 period due to the mix,
timing and terms of uranium contracts.  Revenue from our U.S.
government contracts segment was $56.3 million compared to $55
million in the fourth quarter last year.

For the full year, revenue was $2.04 billion, an increase of 26
percent over 2008. The timing impact of reactor refueling in 2009
on SWU sales compared to 2008 was clear as SWU volume increased 30
percent.  Average SWU prices billed to customers increased 7
percent compared to last year.  The volume of uranium sold
decreased by 35 percent and the average price billed to customers
increased 28 percent.  Revenue from U.S. government contracts and
other was $209.1 million, a 6 percent decline year over year due
primarily to declines in contract work at the gaseous diffusion
plants and expiration in 2008 of a database management contract by
our subsidiary, NAC.  The 2008 government contracts segment
included incremental revenue for DOE contract work done in prior
years.

In a number of sales transactions, USEC transfers title and
collects cash from customers but does not recognize the revenue
until low enriched uranium is physically delivered.  At December
31, 2009, deferred revenue totaled $301.9 million, an increase
of $105.6 million from December 31, 2008.  The gross profit
associated with deferred revenue as of December 31, 2009, was
$57.5 million.

A majority of reactors served by USEC are refueled on an 12-to-24-
month cycle, and this can lead to significant quarterly and annual
swings in SWU sales volume that reflects the mix of refueling
cycles.  Therefore, short-term comparisons of USEC's financial
results are not necessarily indicative of longer-term results.

A full-text copy of the company's financial result is available
for free at http://researcharchives.com/t/s?56f0

                          About USEC Inc.

Headquartered in Bethesda, Maryland, USEC Inc. (NYSE: USU) --
http://www.usec.com/-- a global energy company, is a supplier of
enriched uranium fuel for commercial nuclear power plants.

                            *    *    *

According to the Troubled Company Reporter on Dec. 30, 2009,
USEC Inc. has a revolving credit that matures in August and a
corporate rating from Standard & Poor's that recently declined one
click to CCC+, matching the action taken on Dec. 18 by Moody's
Investors Service.


USEC INC: Inks 2nd Amended Credit Agreement with JPMorgan Chase
---------------------------------------------------------------
USEC Inc. and its wholly owned subsidiary United States Enrichment
Corporation entered into a Second Amended and Restated Revolving
Credit Agreement with JPMorgan Chase Bank, N.A., as administrative
and collateral agent, JPMorgan Securities, Inc., Wachovia Capital
Finance Corporation, and UBS Securities LLC, as joint book
managers and joint lead arrangers, Wachovia Capital Finance
Corporation (New England), as syndication agent, and UBS
Securities LLC, as documentation agent.  The Amended and Restated
Credit Agreement provides for a revolving credit facility of up to
$225 million, which replaces USEC's existing $400 million
revolving credit facility that had been scheduled to expire on
August 18, 2010.

The New Credit Facility contains an accordion feature that allows
USEC to expand the size of the facility up to an aggregate of
$350 million in revolving credit commitments, subject to USEC
obtaining additional commitments.  In the event of such an
increase in commitments, the letter of credit sublimit under the
New Credit Facility will also increase dollar for dollar up to a
maximum of $150 million.  The Company's obligations under the
Amended and Restated Credit Agreement are secured by certain
assets of the Company and its subsidiaries, excluding equity in,
and assets of, subsidiaries created to carry out future commercial
American Centrifuge activities.  The New Credit Facility is
available to finance working capital needs and general corporate
purposes.

Under the terms of the New Credit Facility, the Company is subject
to restrictions on its ability to spend on the American Centrifuge
project.  Subject to certain limitations when Availability falls
below certain thresholds, the New Credit Facility permits the
Company to spend up to $90 million for the American Centrifuge
project over the term of the New Credit Facility.  However, for
every additional dollar of aggregate lender commitments that USEC
obtains under the accordion feature described above, the ACP
Spending Basket is increased by one dollar up to a maximum of
$165 million.

The New Credit Facility does not restrict the investment of
proceeds of grants and certain other financial accommodations that
may be received from the U.S. Department of Energy or other third
parties that are specifically designated for investment in the
American Centrifuge project.  In addition to the ACP Spending
Basket, the New Credit Facility also permits the investment in the
American Centrifuge project of net proceeds from additional equity
capital raised by USEC, subject to certain provisions and certain
limitations when Availability falls below certain thresholds.

The New Credit Facility includes provisions permitting the
transfer of assets related to the American Centrifuge project to
enable USEC to separately finance the American Centrifuge project.
The ACP Subsidiaries are not guarantors under the New Credit
Facility, and their assets are not pledged as collateral.

The New Credit Facility will expire on May 31, 2012.  Outstanding
borrowings under the New Credit Facility will bear interest at a
variable rate equal to, based on the Company's election, either:

    * the sum of (1) the greater of (a) the JPMorgan Chase Bank,
      N.A. prime rate, (b) the federal funds rate plus of 1%, or
      (c) 1-month LIBOR plus 1% plus (2) a margin ranging from
      2.25% to 2.75% based upon Availability; or

    * the sum of LIBOR plus a margin ranging from 4.0% to 4.5%
      based upon Availability.

As with the Prior Credit Facility, borrowings under the New Credit
Facility are subject to limitations based on established
percentages of qualifying assets pledged as collateral to the
lenders, such as eligible accounts receivable and USEC-owned
inventory.  The New Credit Facility contains various reserve
provisions that reduce available borrowings under the facility
periodically or restrict the use of borrowings if certain
requirements are not met.

                          About USEC Inc.

Headquartered in Bethesda, Maryland, USEC Inc. (NYSE: USU) --
http://www.usec.com/-- a global energy company, is a supplier of
enriched uranium fuel for commercial nuclear power plants.

                            *    *    *

According to the Troubled Company Reporter on Dec. 30, 2009,
USEC Inc. has a revolving credit that matures in August and a
corporate rating from Standard & Poor's that recently declined one
click to CCC+, matching the action taken on Dec. 18 by Moody's
Investors Service.


UTEX COMMUNICATIONS: Case Summary & 18 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: UTEX Communications Corp.
          dba FeatureGroup IP
        1250 S. Capital of Texas Hwy.
        Bldg. 2-235
        Austin, TX 78746

Bankruptcy Case No.: 10-10599

Chapter 11 Petition Date: March 3, 2010

Court: United States Bankruptcy Court
       Western District of Texas (Austin)

Debtors' Counsel: Patricia Baron Tomasco, Esq.
                  Munch Hardt Kopf & Harr, P.C.
                  600 Congress Avenue, Suite 2900
                  Austin, TX 78701-3057
                  Tel: (512) 391-6109
                  Fax: (512) 226-7103
                  Email: ptomasco@munsch.com

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

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

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/txwb10-10599.pdf

Debtor's List of 18 Largest Unsecured Creditors:

  Entity                   Nature of Claim        Claim Amount
  ------                   ---------------        ------------
Alpheus Communications LP  Trade Debt             $44,773

AT&T                       Trade Debt             $9,391,886
722 N. Broadway, 11th Floor
Milwaukee, WI 53202

AT&T                       Trade Debt             474,216
722 N. Broadway, 11th Floor
Milwaukee, WI 53202

AT&T                       Trade Debt             $8,812

CenturyTel of Lake         Trade Debt             $322
Dallas Inc.

CenturyTel of San Marcos   Trade Debt             $1,369
Inc.

City of Midland            Trade Debt             $117
ROW Fees

CMS                        Trade Debt             $3,000

NECA (Interstate TRS Fund) Trade Debt             $113

Neustar, Inc.              Trade Debt             $846
Loudoun Tech Center

NTS Communications         Trade Debt             $6,000

T3 VoiceNet                Trade Debt             $150

Texas Windstream Inc.      Trade Debt             $5,730
Attn: CABS

Transaction Network        Trade Debt             $21,125
Services

Valor Telecommunications   Trade Debt             $58,320
of Texas LP-TX
Attn: CABS

Wes-Tex Telephone          Trade Debt             $1,539
Attn: CABS Billing Dept.

Windstream Communications  Trade Debt             $31,185
Kerville LP
Attn: CABS

Windstream Sugar Land Inc. Trade Debt             $41,701
Attn: CABS

The petition was signed by Lowell Feldman, the company's CEO.


UTSTARCOM INC: Viraj Patel Steps Down as Vice President
-------------------------------------------------------
UTStarcom Inc. said that Viraj Patel left his position as vice
president, corporate controller and chief accounting officer.
Mr. Patel's departure was in connection with the Company's plans
to relocate certain functions in China and is governed by the
terms and conditions under an executive involuntary termination
severance pay plan.

                      Going Concern Doubt

At September 30, 2009, the Company's consolidated balance sheets
showed $1.004 billion in total assets, $707.0 million in total
liabilities, and $297 million in total stockholders' equity.

The Company incurred net losses of $150.3 million, $195.6 million
and $117.3 million during the years ended December 31, 2008, 2007,
and 2006, respectively.  During the nine months ended
September 30, 2009, the Company incurred a net loss of
$186.3 million.  The Company recorded operating losses in 18 of
the 19 consecutive quarters in the period ended September 30,
2009.  At September 30, 2009, the Company had an accumulated
deficit of $1.03 billion.  The Company incurred net cash outflows
from operations of $55.2 million and $225.1 million in 2008 and
2007 respectively.  Cash used in operations was $89.2 million
during the nine months ended September 30, 2009.  The Company
said it expects to continue to incur losses and negative cash
flows from operations over at least the remainder of 2009.

The Company's only committed source for borrowings is a credit
facility in China.  During the third quarter of 2009, a
$263.5 million credit facility expired and was not renewed.  The
remaining approximately $58.6 million credit facility expires in
the fourth quarter of 2009.

While improvements in operating results, cash flows and liquidity
are anticipated as management's initiatives to control and reduce
costs while maintaining and growing its revenue base are fully
implemented, the Company believes its recurring losses and
expected negative cash flows from operations raise substantial
doubt about its ability to continue as a going concern.  The
Company's  independent registered public accounting firm included
an explanatory paragraph highlighting this uncertainty in the
Company's annual Report on Form 10-K for the year ended
December 31, 2008.

                          About UTStarcom

UTStarcom, Inc. (Nasdaq: UTSI) -- http://www.utstar.com/-- is a
global leader in IP-based, end-to-end networking solutions and
international service and support.  The Company sells its
solutions to operators in both emerging and established
telecommunications markets around the world.  UTStarcom enables
its customers to rapidly deploy revenue-generating access services
using their existing infrastructure, while providing a migration
path to cost-efficient, end-to-end IP networks.  The Company was
founded in 1991 and is headquartered in Alameda, California.


VERENIUM CORP: Capital Ventures, Heights Capital Hold 5.8% Stake
----------------------------------------------------------------
Capital Ventures International in Grand Cayman, Cayman Islands;
and Heights Capital Management, Inc., in San Francisco,
California, disclosed that as of December 31, 2009, they may be
deemed to beneficially own 725,291 shares or roughly 5.8% of the
common stock of Verenium Corporation.

Heights Capital Management is the investment manager to Capital
Ventures International and as such may exercise voting and
dispositive power over the shares.

The shares are issuable upon conversion of $2,200,000 principal
amount of Senior Convertible Notes due April 1, 2012.  Capital
Ventures and Heights Capital disclosed that Verenium's Quarterly
Report on Form 10-Q for the quarterly period ended September 30,
2009 indicates there were 11,715,228 Shares outstanding as of
November 6, 2009.  In calculating percentage of Shares held,
Capital Ventures and Heights Capital said they assumed the
conversion of the Original Note at a conversion price of $4.2755
per share.  In calculating the number of Shares and percentage of
Shares held, Capital Ventures and Heights Capital also included
warrants to purchase 210,731 Shares.

According to Capital Ventures and Heights Capital, pursuant to the
terms of a Convertible Note Amendment Agreement, dated July 1,
2009, Verenium purported to amend certain provisions of the
Original Note, which, among other matters, would provide for a
conversion price of $17.89, resulting in Capital Ventures and
Heights Capital beneficially owning, together with the Warrants,
333,704 Shares, representing 2.8% of the outstanding Shares.
Capital Ventures and Heights Capital dispute the effectiveness of
the Amendment Agreement and maintain that they continue to own the
Original Note.  The Company and Capital Ventures and Heights
Capital are currently litigating the validity of the Amendment
Agreement.

Based in Cambridge, Mass., Verenium Corporation (NASDAQ: VRNM)
-- http://www.verenium.com/-- is a leader in the development and
commercialization of cellulosic ethanol, an environmentally-
friendly and renewable transportation fuel, as well as high-
performance specialty enzymes for applications within the
biofuels, industrial, and animal health markets.

                 Going Concern/Bankruptcy Warning

The Company has incurred a net loss of $18.9 million for the nine
months ended September 30, 2009, and has an accumulated deficit of
$632.5 million as of September 30, 2009.

Based on the Company's current operating plan, which includes
payments to be received by the Company or its consolidated
entities from BP relating to the first and second phases of the
strategic partnership, as well as proceeds from the Company's
recent equity financing, the Company says its existing working
capital may not be sufficient to meet the cash requirements to
fund the Company's planned operating expenses, capital
expenditures, required and potential payments under the 2007
Notes, the 2008 Notes, and the 2009 Notes, and working capital
requirements through 2010 without additional sources of cash
and/or the deferral, reduction or elimination of significant
planned expenditures.  These factors raise substantial doubt about
the Company's ability to continue as a going concern.

The Company adds that while it believes that it will be successful
in raising or generating additional cash through a combination of
corporate partnerships and collaborations, federal, state and
local grant funding, selling or financing assets, incremental
product sales and the additional sale of equity or debt
securities, if it is unsuccessful in raising additional capital
from any of these sources, it may need to defer, reduce or
eliminate certain planned expenditures, restructure or
significantly curtail its operations, file for bankruptcy or cease
operations.


VERENIUM CORP: Extends Joint Devt. Program with BP Until 1
----------------------------------------------------------
Verenium Corporation has extended the joint development program
established in August 2008 with partner BP for an additional month
until April 1, 2010.

BP and Verenium will continue their ongoing joint development work
to accelerate the development and commercialization of cellulosic
ethanol, while the two parties continue negotiations for a longer-
term collaboration.  Verenium will receive an additional
$2.5 million from BP to co-fund the cellulosic ethanol program for
the month of March.

"Both Verenium and BP remain committed to advancing our cellulosic
ethanol technology and agreeing on an appropriate structure for
doing so," said Carlos A. Riva, President and Chief Executive
Officer at Verenium.

A full-text copy ofthe extension agreement is available for free
at http://ResearchArchives.com/t/s?56c4

                         About Verenium

Based in Cambridge, Mass., Verenium Corporation (NASDAQ: VRNM)
-- http://www.verenium.com/-- is a leader in the development and
commercialization of cellulosic ethanol, an environmentally-
friendly and renewable transportation fuel, as well as high-
performance specialty enzymes for applications within the
biofuels, industrial, and animal health markets.

                 Going Concern/Bankruptcy Warning

The Company has incurred a net loss of $18.9 million for the nine
months ended September 30, 2009, and has an accumulated deficit of
$632.5 million as of September 30, 2009.

Based on the Company's current operating plan, which includes
payments to be received by the Company or its consolidated
entities from BP relating to the first and second phases of the
strategic partnership, as well as proceeds from the Company's
recent equity financing, the Company says its existing working
capital may not be sufficient to meet the cash requirements to
fund the Company's planned operating expenses, capital
expenditures, required and potential payments under the 2007
Notes, the 2008 Notes, and the 2009 Notes, and working capital
requirements through 2010 without additional sources of cash
and/or the deferral, reduction or elimination of significant
planned expenditures.  These factors raise substantial doubt about
the Company's ability to continue as a going concern.

The Company adds that while it believes that it will be successful
in raising or generating additional cash through a combination of
corporate partnerships and collaborations, federal, state and
local grant funding, selling or financing assets, incremental
product sales and the additional sale of equity or debt
securities, if it is unsuccessful in raising additional capital
from any of these sources, it may need to defer, reduce or
eliminate certain planned expenditures, restructure or
significantly curtail its operations, file for bankruptcy or cease
operations.


VERENIUM CORP: Highbridge Owns 8.29% of Common Stock
----------------------------------------------------
Highbridge International LLC, Highbridge Convertible Arbitrage
Master Fund, L.P., Highbridge Capital Management, LLC, and Glenn
Dubin disclosed that as of December 31, 2009, they may be deemed
to beneficially own:

        275,435 shares of Common Stock of Verenium Corporation;

     $8,000,690 aggregate principal amount of 8.0% Senior
                Convertible Notes due April 1, 2012, convertible
                into 447,215 shares of Common Stock; and

       Warrants to purchase 444,313 shares of Verenium Common
                Stock.

Highbridge may be deemed to beneficially own 8.29% of Verenium's
common stock.

Highbridge Capital Management LLC is the trading manager of
Highbridge International LLC and Highbridge Convertible Arbitrage
Master Fund, L.P.  Glenn Dubin is the Chief Executive Officer of
Highbridge Capital Management, LLC.

Based in Cambridge, Mass., Verenium Corporation (NASDAQ: VRNM)
-- http://www.verenium.com/-- is a leader in the development and
commercialization of cellulosic ethanol, an environmentally-
friendly and renewable transportation fuel, as well as high-
performance specialty enzymes for applications within the
biofuels, industrial, and animal health markets.

                 Going Concern/Bankruptcy Warning

The Company has incurred a net loss of $18.9 million for the nine
months ended September 30, 2009, and has an accumulated deficit of
$632.5 million as of September 30, 2009.

Based on the Company's current operating plan, which includes
payments to be received by the Company or its consolidated
entities from BP relating to the first and second phases of the
strategic partnership, as well as proceeds from the Company's
recent equity financing, the Company says its existing working
capital may not be sufficient to meet the cash requirements to
fund the Company's planned operating expenses, capital
expenditures, required and potential payments under the 2007
Notes, the 2008 Notes, and the 2009 Notes, and working capital
requirements through 2010 without additional sources of cash
and/or the deferral, reduction or elimination of significant
planned expenditures.  These factors raise substantial doubt about
the Company's ability to continue as a going concern.

The Company adds that while it believes that it will be successful
in raising or generating additional cash through a combination of
corporate partnerships and collaborations, federal, state and
local grant funding, selling or financing assets, incremental
product sales and the additional sale of equity or debt
securities, if it is unsuccessful in raising additional capital
from any of these sources, it may need to defer, reduce or
eliminate certain planned expenditures, restructure or
significantly curtail its operations, file for bankruptcy or cease
operations.


VERENIUM CORP: Invesco Ltd. No Longer Holds Shares
--------------------------------------------------
Atlanta, Georgia-based Invesco Ltd. disclosed that as of
December 31, 2009, it no longer held shares Verenium Corporation.

Based in Cambridge, Mass., Verenium Corporation (NASDAQ: VRNM)
-- http://www.verenium.com/-- is a leader in the development and
commercialization of cellulosic ethanol, an environmentally-
friendly and renewable transportation fuel, as well as high-
performance specialty enzymes for applications within the
biofuels, industrial, and animal health markets.

                 Going Concern/Bankruptcy Warning

The Company has incurred a net loss of $18.9 million for the nine
months ended September 30, 2009, and has an accumulated deficit of
$632.5 million as of September 30, 2009.

Based on the Company's current operating plan, which includes
payments to be received by the Company or its consolidated
entities from BP relating to the first and second phases of the
strategic partnership, as well as proceeds from the Company's
recent equity financing, the Company says its existing working
capital may not be sufficient to meet the cash requirements to
fund the Company's planned operating expenses, capital
expenditures, required and potential payments under the 2007
Notes, the 2008 Notes, and the 2009 Notes, and working capital
requirements through 2010 without additional sources of cash
and/or the deferral, reduction or elimination of significant
planned expenditures.  These factors raise substantial doubt about
the Company's ability to continue as a going concern.

The Company adds that while it believes that it will be successful
in raising or generating additional cash through a combination of
corporate partnerships and collaborations, federal, state and
local grant funding, selling or financing assets, incremental
product sales and the additional sale of equity or debt
securities, if it is unsuccessful in raising additional capital
from any of these sources, it may need to defer, reduce or
eliminate certain planned expenditures, restructure or
significantly curtail its operations, file for bankruptcy or cease
operations.


VERENIUM CORP: Marxe and Greenhouse Hold 12.8% of Common Stock
--------------------------------------------------------------
Austin W. Marxe and David M. Greenhouse disclosed that as of
December 31, 2009, they may be deemed to beneficially own
1,506,073 shares or roughly 12.8% of the common stock of Verenium
Corporation.

Messrs. Marxe and Greenhouse share sole voting and investment
power over 511,196 common shares and 281,253 Warrants to purchase
26,146 Common Shares owned by Special Situations Cayman Fund,
L.P., and 942,587 common shares, and 281,225 Warrants to purchase
26,144 Common Shares owned by Special Situations Fund III QP, L.P.
Messrs. Marxe and Greenhouse are the controlling principals of AWM
Investment Company, Inc., the general partner of and investment
adviser to Special Situations Cayman Fund, L.P.  AWM also serves
as the general partner of MGP Advisers Limited Partnership, the
general partner of Special Situations Fund III QP, L.P.  AWM
serves as the investment adviser to SSFQP.  The principal business
of the Funds is to invest in equity and equity-related securities
and other securities of any kind or nature.

Based in Cambridge, Mass., Verenium Corporation (NASDAQ: VRNM)
-- http://www.verenium.com/-- is a leader in the development and
commercialization of cellulosic ethanol, an environmentally-
friendly and renewable transportation fuel, as well as high-
performance specialty enzymes for applications within the
biofuels, industrial, and animal health markets.

                 Going Concern/Bankruptcy Warning

The Company has incurred a net loss of $18.9 million for the nine
months ended September 30, 2009, and has an accumulated deficit of
$632.5 million as of September 30, 2009.

Based on the Company's current operating plan, which includes
payments to be received by the Company or its consolidated
entities from BP relating to the first and second phases of the
strategic partnership, as well as proceeds from the Company's
recent equity financing, the Company says its existing working
capital may not be sufficient to meet the cash requirements to
fund the Company's planned operating expenses, capital
expenditures, required and potential payments under the 2007
Notes, the 2008 Notes, and the 2009 Notes, and working capital
requirements through 2010 without additional sources of cash
and/or the deferral, reduction or elimination of significant
planned expenditures.  These factors raise substantial doubt about
the Company's ability to continue as a going concern.

The Company adds that while it believes that it will be successful
in raising or generating additional cash through a combination of
corporate partnerships and collaborations, federal, state and
local grant funding, selling or financing assets, incremental
product sales and the additional sale of equity or debt
securities, if it is unsuccessful in raising additional capital
from any of these sources, it may need to defer, reduce or
eliminate certain planned expenditures, restructure or
significantly curtail its operations, file for bankruptcy or cease
operations.


VERENIUM CORP: Unit Extends BP Biofuels Joint Development Deal
--------------------------------------------------------------
Verenium Corporation on March 1, 2010, said Verenium Biofuels
Corporation, its wholly owned subsidiary, had entered into an
Extension Agreement relating to the existing amended Joint
Development and License Agreement between Verenium Biofuels and BP
Biofuels North America LLC dated August 6, 2008, focused on the
development and commercialization of cellulosic ethanol
technologies and previously scheduled to expire on March 1, 2010.
The principal purpose of the Extension is to extend for an
additional month the joint development program conducted pursuant
to the JDLA.

The financial terms of the Extension include a cash payment of
$2.5 million to Verenium Biofuels by BP for the continued
performance of Verenium Biofuels' obligations under the joint
development program during the period of the further extension.

On February 20, 2009, Verenium Biofuels and BP also became parties
to an Amended and Restated Limited Liability Company Operating
Agreement whereby they each own a 50% interest in a limited
liability company, Highlands Ethanol LLC, which serves as a
commercial entity for the deployment of cellulosic ethanol
technology being developed and proven pursuant to the JDLA.  The
Extension Agreement has no effect on Highlands Ethanol LLC.

                         About Verenium

Based in Cambridge, Mass., Verenium Corporation (NASDAQ: VRNM)
-- http://www.verenium.com/-- is a leader in the development and
commercialization of cellulosic ethanol, an environmentally-
friendly and renewable transportation fuel, as well as high-
performance specialty enzymes for applications within the
biofuels, industrial, and animal health markets.

                 Going Concern/Bankruptcy Warning

The Company has incurred a net loss of $18.9 million for the nine
months ended September 30, 2009, and has an accumulated deficit of
$632.5 million as of September 30, 2009.

Based on the Company's current operating plan, which includes
payments to be received by the Company or its consolidated
entities from BP relating to the first and second phases of the
strategic partnership, as well as proceeds from the Company's
recent equity financing, the Company says its existing working
capital may not be sufficient to meet the cash requirements to
fund the Company's planned operating expenses, capital
expenditures, required and potential payments under the 2007
Notes, the 2008 Notes, and the 2009 Notes, and working capital
requirements through 2010 without additional sources of cash
and/or the deferral, reduction or elimination of significant
planned expenditures.  These factors raise substantial doubt about
the Company's ability to continue as a going concern.

The Company adds that while it believes that it will be successful
in raising or generating additional cash through a combination of
corporate partnerships and collaborations, federal, state and
local grant funding, selling or financing assets, incremental
product sales and the additional sale of equity or debt
securities, if it is unsuccessful in raising additional capital
from any of these sources, it may need to defer, reduce or
eliminate certain planned expenditures, restructure or
significantly curtail its operations, file for bankruptcy or cease
operations.


VISANT HOLDING: Moody's Affirms Corporate Family Rating at 'B1'
---------------------------------------------------------------
Moody's Investors Service affirmed Visant Holding Corp.'s B1
corporate family and probability of default ratings but changed
the company's rating outlook to stable from positive following the
company's announcement that it will distribute about $138 million
in cash to shareholders.  While the company continues to generate
free cash on a annual basis, Moody's believe the financial
strategy of the shareholders is to continue to use leverage to
enhance returns.  Moreover, the weak economic outlook is likely to
continue to pressure the top line although the company has
successfully held operating margins.  Moody's also notes the
relatively short maturity for Visant's debt with bank and bonds
maturing in 2011 and 2012, respectively.

Moody's affirmed all ratings for Visant and its operating
subsidiary Visant Corporation, as shown below:

Visant Holding Corp:

  -- Corporate Family Rating, B1
  -- Probability of Default Rating, B1
  -- Senior Discount Notes, B3, LGD 5, 84%
  -- Senior Unsecured Bonds, B3, LGD 5, 84%

Visant Corporation:

  -- Senior Subordinated Regular Bond/Debenture, B1, LGD3, 45%
  -- Senior Secured Bank Credit Facility, Ba1, LGD2, 10%

Visant's B1 corporate family and probability of default ratings
also reflect Moody's view that the company is unlikely to
materially de-lever, concerns over increasing competition in the
direct marketing space and the history of a shareholder-oriented
financial policy (dividends and debt-financed acquisitions).
Visant's good EBITDA margins, free cash flow generation, market
leading position and high customer retention rate in the
relatively more stable school rings scholastic segment support the
rating.  Given its free cash flow generating ability and private
equity sponsor ownership, the company's balance between debt
reduction, acquisitions, and equity distributions will continue to
influence the ratings.

Moody's last rating action was on June 17, 2009, when Moody's
affirmed Visant's B1 CFR and changed the outlook to positive from
stable.

Visant Holding Corp. a leading marketing and publishing services
enterprise, services school affinity, direct marketing, fragrance
and cosmetics sampling and educational publishing markets.  The
company has 3 segments: Scholastic (mostly class rings and other
graduation products), Memory Book (mostly school yearbooks) and
Marketing and Publishing Services (mostly magazine inserts and
other innovative direct marketing products).  The company
maintains headquarters in Armonk, New York.  The company reported
net sales of approximately $1.3 billion for the last twelve months
ended January 3, 2010.


WASHINGTON MUTUAL: Close to Settlement of JPMorgan Dispute
----------------------------------------------------------
Dow Jones Newswires' Peg Brickley reports that Brian Rosen, Esq.,
a partner at law firm Weil, Gotshal & Manges LLP in New York, who
represents Washington Mutual, told the U.S. Bankruptcy Court for
the District of Delaware on Thursday that WaMu is close to a
settlement of its dispute with J.P. Morgan Chase & Co. over who
owns about $4 billion claimed by both JPMorgan Chase & Co. and the
parent company of the failed thrift.  Mr. Rosen told Judge Mary
Walrath the talks have "accelerated over the past few days."

Dow Jones says Judge Walrath postponed a scheduled hearing on the
dispute while the settlement talks continue.

WaMu filed for bankruptcy in September 2008 when federal
regulators seized its banking operations and sold them to
JPMorgan. WaMu's lawyers argue the $4 billion represented deposits
made by the parent and should be used to repay creditors.
JPMorgan argues that it owns the disputed $4 billion, which it
views as a capital contribution to WaMu's banking operations from
its holding company.  Federal Deposit Insurance Corp. officials
have said the sale process worked properly.

Dow Jones says lawyers for the FDIC and JPMorgan didn't speak in
court Thursday.  Spokesmen for the agency and bank declined to
comment.

WaMu and JPMorgan are also embroiled over a dispute over ownership
of trust-preferred securities valued at $4 billion, federal tax
refunds valued at $5.6 billion, a pension fund for thousands of
employees and rights to the Washington Mutual name.

Dow Jones says Judge Walrath is considering a separate request
from WaMu for a court order requiring JPMorgan to surrender the
contents of WaMu's bank accounts to the former parent company.

                     About Washington Mutual

Based in Seattle, Washington, Washington Mutual Inc. --
http://www.wamu.com/-- is a holding company for Washington Mutual
Bank as well as numerous non-bank subsidiaries.  The Company
operates in four segments: the Retail Banking Group, which
operates a retail bank network of 2,257 stores in California,
Florida, Texas, New York, Washington, Illinois, Oregon, New
Jersey, Georgia, Arizona, Colorado, Nevada, Utah, Idaho and
Connecticut; the Card Services Group, which operates a nationwide
credit card lending business; the Commercial Group, which conducts
a multi-family and commercial real estate lending business in
selected markets, and the Home Loans Group, which engages in
nationwide single-family residential real estate lending,
servicing and capital markets activities.

Washington Mutual Bank was taken over September 25 by U.S.
government regulators.  The next day, WaMu and its affiliate, WMI
Investment Corp., filed separate petitions for Chapter 11 relief
(Bankr. D. Del. 08-12229 and 08-12228, respectively).  Wamu owns
100% of the equity in WMI Investment.  Weil Gotshal & Manges
represents the Debtors as counsel.  When WaMu filed for protection
from its creditors, it listed assets of $32,896,605,516 and debts
of $8,167,022,695.  WMI Investment listed assets of $500,000,000
to $1,000,000,000 with zero debts.

Bankruptcy Creditors' Service Inc. publishes Washington Mutual
Bankruptcy News.  The newsletter tracks the Chapter 11 proceedings
of Washington Mutual Inc. (http://bankrupt.com/newsstand/or
215/945-7000).


WE THE PEOPLE: Organizational Meeting to Form Panel on March 9
--------------------------------------------------------------
Roberta A. DeAngelis, Acting United States Trustee for Region 3,
will hold an organizational meeting on March 9, 2009, at
10:30 a.m. in the bankruptcy case of We the People USA. Inc., et
al.  The meeting will be held at J. Caleb Boggs Federal Building
844 N. King Street, Suite 2112, 2nd Floor, Wilmington, DE 19801.

The sole purpose of the meeting will be to form a committee or
committees of unsecured creditors in the Debtors' cases.

The organizational meeting is not the meeting of creditors
pursuant to Section 341 of the Bankruptcy Code.  A representative
of the Debtor, however, may attend the Organizational Meeting, and
provide background information regarding the bankruptcy cases.

To increase participation in the Chapter 11 proceeding, Section
1102 of the Bankruptcy Code requires that the United States
Trustee appoint a committee of unsecured creditors as soon as
practicable.  The Committee ordinarily consists of the persons,
willing to serve, that hold the seven largest unsecured claims
against the debtor of the kinds represented on the committee.
Section 1103 of the Bankruptcy Code provides that the Committee
may consult with the debtor, investigate the debtor and its
business operations and participate in the formulation of a plan
of reorganization.  The Committee may also perform other services
as are in the interests of the unsecured creditors whom it
represents.

We The People -- http://www.wethepeopleusa.com/-- is a national
system of Legal Document Preparation stores and has been in
existence for over 20 years.  We The People helps consumers
represent themselves (pro se litigation) in uncontested legal
matters by preparing/typing the necessary legal documents to court
standards.  By doing it themselves, consumers usually save 50%-70%
of the typical fees and costs.

The Company filed for Chapter 11 bankruptcy protection on
February 19, 2010 (Bankr. Delaware Case No. 10-10503).  Adam
Hiller, Esq., at Pinckney, Harris & Weidinger, LLC, assists the
Company in its restructuring effort.  The Company listed $100,000
to $1,000,000 million in assets and $1,000,000 to $100,000,000 in
liabilities.


WGMJR INC: Case Summary & 6 Largest Unsecured Creditors
-------------------------------------------------------
Debtor: WGMJR, Inc.
        1119 Commerce
        Houston, TX 77002-1910

Bankruptcy Case No.: 10-31835

Chapter 11 Petition Date: March 2, 2010

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

Judge: Letitia Z. Paul

Debtor's Counsel: Patrick D. Devine, Esq.
                  Attorney at Law
                  4615 SW Fwy, Ste 405
                  Houston, TX 77027
                  Tel: (832) 251-2722
                  Fax: (832) 251-2724
                  Email: pdevine@pdevinelaw.com

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

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

A list of the Company's 6 largest unsecured creditors is available
for free at:

                http://bankrupt.com/misc/txsb10-31835.pdf

The petition was signed by William G. Marlin Jr., president of the
company.


WHG DEVELOPMENT LLC: Case Summary & 5 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: WHG Development, LLC
        PO Box 5206
        Palm Springs, CA 92263

Bankruptcy Case No.: 10-10277

Chapter 11 Petition Date: March 3, 2010

Court: United States Bankruptcy Court
       Maine (Bangor)

Debtor's Counsel: Jeffrey P. White, Esq.
                  Jeffrey P. White and Associates, P.C.
                  243 Mount Auburn Ave., Suite B-1
                  Auburn, ME 04210
                  Tel: (207) 689-2111
                  Fax: (207) 689-2112
                  Email: jwhite@whitelawoffices.com

                  Jennifer H. Pincus, Esq.
                  Office of the United States Trustee
                  537 Congress Street, Suite 303
                  Portland, ME 04101
                  Tel: (207) 780-3564
                  Fax: (207) 780-3568
                  Email: Jennifer.H.Pincus@usdoj.gov

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

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

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

             http://bankrupt.com/misc/meb10-10277.pdf

The petition was signed by James Dennehy, member/manager of the
Company.


WHIRLPOOL CORPORATION: Moody's Changes Outlook to Stable
--------------------------------------------------------
Moody's Investors Service revised the outlook for Whirlpool
Corporation to stable from negative following an improvement in
demand and free cash flow in late 2009 and due to Moody's
expectation that demand trends will continue to improve and that
liquidity will remain strong.  At the same time, the company's
Baa3 senior unsecured rating was affirmed.

The combination of significant cost cutting initiatives and an
improvement in demand across all regions, but most notably in
North America, led to a strong fourth quarter with quarterly
increases in revenue, earnings and operating cash flow.  "While
these amounts are still below pre-recession levels, and will
likely continue to be in the near term, Moody's expects modest
increases in operating performance in 2010 as replacement
purchases, which account for around 50%-70% of sales in the U.S.,
return to normal levels and the economy continues to recover,"
said Kevin Cassidy, Senior Credit Officer at Moody's Investors
Service.

The stable outlook reflects Moody's belief that demand has
stabilized in North America, which is where about 55% of revenue
is generated, and that demand in Latin America and Asia will
continue to improve, albeit at a slower pace than in 2009.
Moody's expects demand in Europe to continue to lag the rest of
the world, but Moody's do not expect significant further declines.
Moody's expects 2010 revenue to range between $17.5 billion and
$18 billion and EBITDA to be between $1.5 billion and
$1.7 billion.  The stable outlook incorporates Moody's expectation
that Whirlpool will continue to maintain a strong liquidity
profile with over $1 billion of cash , expectation of at least
$400 of free cash flow and that Whirlpool will continue to have
access to a $1.8 billion revolving credit facility ($522 million
expires in December 2010 and the remainder expires in August
2012).  Moody's expects Whirlpool to pay the $325 million due in
May 2010 with existing cash.

The affirmation of Whirlpool's ratings reflects its significant
scale with revenue over $17 billion, significant geographic
diversification and very strong brand names.  The rating
affirmation also reflects improved credit metrics with EBITA
margins of 5.7% and free cash flow to debt over 18%.  While free
cash flow as a percentage of debt is not expected to continue at
this level, other metrics are likely to improve in 2010 with debt
to EBITDA approaching 3x and retained cash flow to debt
approaching 20%.  The ratings are constrained by the continued
weak discretionary consumer spending environment, fragility of the
U.S. housing market and high unemployment levels.

These ratings were affirmed:

* Senior Unsecured -- Baa3;
* Senior Unsecured (Shelf) -- Baa3 (P);
* Senior Subordinated (Shelf) --Ba1 (P)
* Commercial Paper -- P-3

The last rating action was on August 20, 2009, where Moody's
affirmed Whirlpool's rating and negative outlook.

Based in Benton Harbor, MI, Whirlpool Corporation manufactures and
markets a full line of major appliances and related products
including laundry appliances, refrigerators and freezers, cooking
appliances and other appliance products.  The company markets
products under several brands including Whirlpool, Maytag,
KitchenAid and several others.  The company reported net sales of
approximately $17 billion for the twelve months ended December 31,
2009.


WILLIAM BUCKLES: Files Schedules of Assets & Liabilities
--------------------------------------------------------
William G. Buckles, Jr., has filed with the U.S. Bankruptcy Court
for the Middle District of Florida its schedules of assets and
liabilities, disclosing:

  Name of Schedule                   Assets         Liabilities
  ----------------                   ------         -----------
A. Real Property                  $3,434,021
B. Personal Property              $3,746,009
C. Property Claimed as
   Exempt
D. Creditors Holding
   Secured Claims                                 $11,208,754
E. Creditors Holding
   Unsecured Priority
   Claims                                                  $0
F. Creditors Holding
   Unsecured Non-priority
   Claims                                           $1,027,388
                                -----------       ------------
           TOTAL                 $7,180,030        $12,236,142

Largo, Florida-based William G. Buckles, Jr., filed for Chapter 11
bankruptcy protection on February 4, 2010 (Bankr. M.D. Fla. Case
No. 10-02469).  Marshall G. Reissman, Esq., at the Law Offices of
Marshall G. Reissman, assists the Debtor in his restructuring
effort.  According to the schedules, the Debtor has assets of
$7,180,030, and total debts of $12,236,142.


WILLIAM BUCKLES: Taps Reissman & Blanchard as Bankr. Counsel
------------------------------------------------------------
William G. Buckles, Jr., has sought authorization from the U.S.
Bankruptcy Court for the Middle District of Florida to employ
Reissman & Blanchard, P.A., as bankruptcy counsel.

Reissman & Blanchard will:

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

     b. prepare necessary applications, answers, orders, reports,
        complaints and other legal papers and appear at hearings
        thereon; and

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

Reissman & Blanchard will be paid $225 per hour for its services.

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

Largo, Florida-based William G. Buckles, Jr., filed for Chapter 11
bankruptcy protection on February 4, 2010 (Bankr. M.D. Fla. Case
No. 10-02469).  According to the schedules, the Company has assets
of $7,180,030, and total debts of $12,236,142.


WILLIAM BUCKLES: Section 341(a) Meeting Scheduled for March 8
-------------------------------------------------------------
The U.S. Trustee for Region 21 will convene a meeting of creditors
in William G. Buckles Jr.'s Chapter 11 case on March 8, 2010, at
11:30 a.m.  The meeting will be held at Room 100-B, 501 East Polk
Street, (Timberlake Annex), Tampa, FL 33602.

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.

Largo, Florida-based William G. Buckles, Jr., filed for Chapter 11
bankruptcy protection on February 4, 2010 (Bankr. M.D. Fla. Case
No. 10-02469).  Marshall G. Reissman, Esq., at Law Offices of
Marshall G. Reissman, assists the Company in its restructuring
effort.  According to the schedules, the Company has assets of
$7,180,030, and total debts of $12,236,142.


WORKSTREAM INC: Janus Capital Holds 1.5% of Common Stock
--------------------------------------------------------
Janus Capital Management LLC and Janus Venture Fund disclosed that
as of December 31, 2009, they may be deemed to hold 868,709 shares
or roughly 1.5% of the common stock of Workstream Inc.

                          Balance Sheet

At November 30, 2009, the Company's consolidated balance sheets
showed $23,304,765 in total assets and $30,626,859 in total
liabilities, resulting in a $7,322,094 shareholders' deficit.

The Company's consolidated balance sheets at November 30, 2009,
also showed strained liquidity with $4,915,174 in total current
assets available to pay $8,402,764 in total current liabilities.

As of November 30, 2009, the Company has approximately $1,194,000
in cash and cash equivalents, which primarily consists of deposits
held with banks, compared to approximately $1,644,000 at May 31,
2009.  The decrease was primarily due to funding for the rewards
programs and seasonal lack of annual billings in the first quarter
of each fiscal year.

A full-text copy of the Company's quarterly report on Form 10-Q is
available at no charge at http://researcharchives.com/t/s?4d89

                       Going Concern Doubt

The opinion of the Company's independent registered public
accounting firm on the audited financial statements as of and for
the year ended May 31, 2009, contained an explanatory paragraph
regarding substantial doubt about the Company's ability to
continue as a going concern.

The Company has incurred substantial losses in recent periods and,
as a result, has a shareholders' deficit of $7,322,094 as of
November 30, 2009.  Losses for the six months ended November 30,
2009 were $701,014 and losses for the years ended May 31, 2009,
and 2008, were $4,856,356 and $52,616,875, respectively.

"The Company's ability to continue as a going concern depends upon
its ability to successfully refinance approximately $21.6 million
of its senior secured notes payable, including accrued interest
thereon, generate positive cash flows from operations and obtain
sufficient additional financing, if necessary.  The senior secured
notes went into default on May 22, 2009, due to the Company's
suspension of trading on the NASDAQ Stock Market as a result of
its shareholders' deficit.  Such Notes were restructured on
December 11, 2009."

                      About Workstream Inc.

Workstream Inc. -- http://www.workstreaminc.com/-- is a provider
of services and web-based software applications that address the
needs of companies to more effectively manage their Human Capital
Management functions.  HCM is the process by which companies
recruit, train, compensate, evaluate performance, motivate,
develop and retain their employees.


YIGAL RAPPAPORT: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Yigal Rappaport
        5235 Bartonsville Road
        Frederick, MD 21704

Bankruptcy Case No.: 10-14383

Chapter 11 Petition Date: March 3, 2010

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

Judge: Paul Mannes

Debtor's Counsel: Richard H. Gins, Esq.
                  The Law Office of Richard H. Gins, LLC
                  3 Bethesda Metro Center, Suite 530
                  Bethesda, MD 20814
                  Tel: (301) 718-1078
                  Fax: (301) 718-8359
                  Email: richard@ginslaw.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/mdb10-14383.pdf

The petition was signed by Yigal Rappaport.


ZAYAT STABLES: Bank Agreement to Keep Stables Open Ahead of Derby
-----------------------------------------------------------------
Nancy Kercheval at Bloomberg News reports that Zayat Stables LLC
got the money it needs to continue training Kentucky Derby
favorite Eskendereya for the May 1 race after getting agreement
from Fifth Third Bancorp to access its cash and a credit line.

The agreement gives Zayat permission to use its "cash on hand" and
to use a credit line to run its Hackensack, New Jersey-based
business, said Michael Sirota, an attorney for Zayat.  The
Bankruptcy Court will consider approval of the stipulation at a
hearing on March 8.

According to Bloomberg, Zayat Stables was third behind Darley
Stables and Godolphin Stables in earnings last year with almost
$3.1 million.  Zayat's Pioneer of the Nile was second behind Mine
That Bird in the 2009 Kentucky Derby, the first leg of
thoroughbred horse racing's Triple Crown.

Zayat Stables and Fifth Third have been mired in a dispute after
Fifth Third in December filed a suit in federal court saying Zayat
Stables had defaulted on a loan under which it owes $34.2 million.
In an attempt to halt the action, the stables filed for bankruptcy
protection, citing Fifth Third's "predatory lending practices."

                        About Zayat Stables

Hackensack, New Jersey-based Zayat Stables owns of 203
thoroughbred horses.  The horses, which are collateral for the
bank loan, are worth $37 million, according an appraisal mentioned
in a court paper.  Ahmed Zayat said in a court filing that he
personally invested $40 million in the business.

The Company filed for Chapter 11 bankruptcy protection on
February 3, 2010 (Bankr. D. N.J. Case No. 10-13130).  The Company
listed $10,000,001 to $50,000,000 in assets and $10,000,001 to
$50,000,000 in liabilities.


ZHONE TECHNOLOGIES: Receives NASDAQ Deficiency Notice
-----------------------------------------------------
Zhone Technologies, Inc., on March 2, 2010, received a notice of
deficiency from The NASDAQ Stock Market indicating that it no
longer complies with the independent audit committee requirements
for continued listing on NASDAQ.  Specifically, NASDAQ Listing
Rule 5605 requires that the audit committee be comprised of at
least three independent directors.  As previously reported, Mr.
Steven Levy resigned from Zhone's Board of Directors and audit
committee on February 12, 2010.  Mr. Levy's resignation reduced
the audit committee from three independent directors to two.  As a
result, Zhone no longer complies with the audit committee
requirement for continued listing on NASDAQ.  However, NASDAQ has
given Zhone a cure period to regain compliance until the earlier
of Zhone's next annual shareholders' meeting or February 12, 2011,
or if the next annual shareholders' meeting is held before August
11, 2010, then Zhone must evidence compliance no later than
August 11, 2010.

Zhone plans to conduct a thorough recruitment and evaluation
process to find a suitable replacement prior to the end of the
cure period. In the event Zhone does not regain compliance prior
to the end of the cure period, NASDAQ will provide written notice
to Zhone that its securities will be delisted.  At that time,
Zhone may appeal the delisting determination to a NASDAQ Hearings
Panel.

                   About Zhone Technologies

Zhone Technologies, Inc. is a global leader in multi-service
access solutions, serving more than 700 of the world's most
innovative network operators.  The company offers the industry's
only fully-integrated portfolio of MSAP, FTTx, EFM and Wi-Fi
access technologies resulting in improved network agility and
reduced costs in delivering the full spectrum of access services,
including residential and business broadband, VoIP, and High-
Definition IPTV -- over copper, fiber, and wireless.  Zhone is
headquartered in California and its MSAP products are manufactured
in the USA in a facility that is emission, waste-water and CFC
free.


* Oneida Pension Ruling Could Spur Backlash
-------------------------------------------
Law360 reports that Pension Benefit Guaranty Corp. officials have
high hopes that a recent U.S. Court of Appeals for the Second
Circuit decision will help dissuade bankrupt companies from
terminating pension plans, but some attorneys warn that the ruling
may have unintended consequences.


* Bill to Prohibit Executive Bonuses in Bankruptcy
--------------------------------------------------
Assistant Senate Majority Leader Dick Durbin (D-IL) and House
Judiciary Committee Chairman John Conyers (D-MI) introduced
legislation, which will curb abuses that deprive employees and
retirees of their earnings and retirement savings when businesses
collapse.  The Protecting Employees and Retirees in Business
Bankruptcies Act would make several changes to Chapter 11
bankruptcy law, putting workers interests near the top when
companies file for bankruptcy.

The new legislation amends bankruptcy law by prohibiting bonuses
and other forms of incentive compensation to senior officers of
companies in bankruptcy reorganization.  Under the proposed
amendments, senior executives would be prohibited from receiving
retirement benefits if workers lose retirement or health benefits.

"American workers and retirees who give their lives to a company
are too often treated like strangers when their employer files
bankruptcy," Sen. Durbin said.  "This bill says that if a company
goes bankrupt, employees and retirees won't take a back seat to
creditors and executive bonuses in getting fair treatment."

The bill is also cosponsored by Senators Tom Harkin (D-IA),
Sherrod Brown (D-OH) and Al Franken (D-MN).

The legislation proposes to protect workers from losing out by:

  * Doubling the maximum value of wage claims entitled to priority
    payment for each worker to $20,000;

  * allowing a second claim of up to $20,000 for contributions to
    employee benefit plans;

  * eliminating the restriction that wage and benefit claims must
    be earned within 180 days of the bankruptcy filing in order to
    be entitled to priority payment;

  * allowing workers to assert claims for losses in certain
    defined contribution plans when such losses result from
    employer fraud or breach of fiduciary duty

  * establishing a new priority administrative expense for
    workers' severance pay

  * clarifying that back pay awarded via WARN Act damages are
    entitled to the same priority as back pay for other legal
    violations

The new law would also reduce employees' and retirees' losses by,
among other things, restricting the situations in which collective
bargaining agreements can be rejected, tightening the criteria by
which collective bargaining agreements can be amended, and
encouraging negotiated settlements.

As to executive compensation programs, payment of bonuses and
other forms of incentive compensation to senior officers and
others would be prohibited, and insiders cannot receive retiree
benefits if workers have lost their retirement or health benefits


* Chadbourne & Parke Appoints Three Counsel and Two In'l Partners
-----------------------------------------------------------------
The international law firm of Chadbourne & Parke LLP announced
March 4 the appointments of Jonathan C. Cross, Thomas N. Pieper
and Francisco Vazquez as counsel in New York and the appointments
of Clara Krivoy and Salvador Fonseca as international partners in
Chadbourne & Parke, S.C., the firm's Mexico City partnership.

"I would like to congratulate the three counsel and two
international partners on their appointments," said Chadbourne
Managing Partner Charles K. O'Neill.  "All five lawyers have
demonstrated skill and creativity in serving our clients. Their
appointments reflect the breadth of our international presence and
practice area diversity."

Jonathan Cross, New York office, concentrates his practice on
complex commercial litigation and arbitration, with a focus on
transnational business disputes, energy and financial services
litigation, and government investigations.  Mr. Cross has advised
clients on such matters as securities litigation, antitrust
litigation, government and internal investigations, class actions,
breach of contract and breach of fiduciary duty litigation,
shareholder derivative litigation, and international and domestic
arbitration.  He received his B.A. in 1997 from the University of
Rhode Island and his J.D. summa cum laude from the University of
Pennsylvania Law School in 2000.

Thomas Pieper, New York office, has focused his practice on
complex international dispute resolution, with a particular
emphasis on Latin American and European parties.  He represents
foreign and domestic clients in large international arbitration
(both commercial and investor-state) and litigation cases.  He
also assists clients in FCPA related and other governmental
investigations.  Mr. Pieper was ranked by Chambers and Partners,
Latin American edition, Latin America-wide, for International
Arbitration in 2010.  He received a J.D. in 1994 from Ludwig
Maximilian University of Munich, School of Law, an M.A. in 1999
from Ludwig Maximilian University of Munich, and an LL.M. in 2000
from New York University School of Law.

Frank Vazquez, New York office, concentrates his practice on
bankruptcy and financial restructuring with a focus on cross-
border insolvency and debt restructuring.  He has represented
debtors and lenders in prepackaged and conventional Chapter 11
cases, advised borrowers and lenders in out-of-court
restructurings, and represented creditors committees and secured
and unsecured creditors in Chapter 11 cases, as well as foreign
representatives in cross-border ancillary proceedings.  Mr.
Vazquez received a B.A. from Hofstra University in 1991 and a J.D.
from St. John's University School of Law in 1994.

Clara Krivoy, New York office, focuses on corporate and securities
law.  Ms. Krivoy has represented domestic and foreign clients in
debt and equity offerings, mergers and acquisitions, debt and
capital restructuring, bank lending, joint ventures, venture
capital investments, structuring and organizing start-up
companies, financings by early stage companies, private placements
and American Depositary Receipt programs.  Ms. Krivoy received a
law degree in 1992 from Universidad Catolica Andres Bello in
Venezuela and an M.C.J. in 1993, and an LL.M. in 1994, from New
York University School of Law.

Salvador Fonseca, Mexico City office, represents clients in
complex domestic and international arbitration and litigation.
Mr. Fonseca has ample experience in construction, oil and gas and
infrastructure-related disputes.  He regularly counsels on
bankruptcy and financial restructuring matters and also advises
clients in local and international corporate compliance issues.
He participates in arbitrations and is an expert at solving
disputes.  Mr. Fonseca received his law degree (with honors) in
1995 from Universidad de Guadalajarais in Mexico.  He completed
his postgraduate studies at PanAmerican University in Mexico in
1998, and earned an LL.M. in 2000 from New York University School
of Law.

                  About Chadbourne & Parke LLP

Chadbourne & Parke LLP, an international law firm headquartered in
New York City, provides a full range of legal services, including
mergers and acquisitions, securities, project finance, private
funds, corporate finance, energy, communications and technology,
commercial and products liability litigation, securities
litigation and regulatory enforcement, special investigations and
litigation, intellectual property, antitrust, domestic and
international tax, insurance and reinsurance, environmental, real
estate, bankruptcy and financial restructuring, employment law and
ERISA, trusts and estates and government contract matters.  Major
geographical areas of concentration include Central and Eastern
Europe, Russia, the Middle East and Latin America.  The Firm has
offices in New York, Washington, DC, Los Angeles, Mexico City,
London (an affiliated partnership), Moscow, St. Petersburg,
Warsaw, Kyiv, Almaty, Dubai and Beijing.


* Willkie Farr's Shelley Chapman to be New York Bankruptcy Judge
----------------------------------------------------------------
Bill Rochelle at Bloomberg News reports that Shelley C. Chapman
was named by the U.S. Court of Appeals in New York to take over
one of the two openings in the U.S. Bankruptcy Court in Manhattan.
Ms. Chapman, who graduated with honors from Harvard Law School,
will assume her duties on March 5. She was a partner at the New
York firm Willkie Farr & Gallagher LLP practicing bankruptcy law.

According to the Bloomberg report, there is one other opening on
the bankruptcy bench in New York caused by the retirement of
Prudence Carter Beatty at the end of 2009.  The process of
selecting Judge Beatty's replacement began last year.

Unlike U.S. district judges, bankruptcy judges aren't appointed
for life. They serve 14-year terms and may be reappointed.


* BOOK REVIEW: Taking America - How We Got from the First Hostile
               Takeover to Megamergers, Corporate Raiding and
               Scandal
-----------------------------------------------------------------
Author: Jeff Madrick
Publisher: BeardBooks
Softcover: 310 pages
Review by Henry Berry

As the subtitle reveals, Taking America connotes the
indiscriminate buying up of the nation's assets of large
corporations by investment bankers, insider stock traders,
arbitrageurs, and the like.  This occurred in the mid-1970s, when
low stock prices made many large corporations attractive as
takeover targets.  At the time, they were not ready for what was
going to hit them.  This was the business era when the term
"hostile takeover" came into use.  Ivan Boesky, Carl Icahn, and T.
Boone Pickens became household names for their inconceivable, bold
attempts to buy out corporations.  In doing so, they would stand
to make hundreds of millions of dollars as the stock of the
acquired company rose.  But in most cases, such a stock rise would
come at the cost of breaking up the newly-acquired company by
selling off its most prized and valuable operations and assets or
by drastically reducing its work force to save on wage and
benefits costs.

In many ways, this wave of buyouts and mergers fundamentally
changed the way corporations did business; and it changed the way
corporations were seen by businesspersons and the public.
Corporations came to be seen not mainly as businesses relating to
a particular business sector or making a particular product or
product line.

Such considerations as operations and growth within a particular
or closely-related sector, employee security, and long-term
strategic planning were swept aside by the single-minded aim of
using a corporation's cash and other assets as leverage to
takeover vulnerable, and often unsuspecting, corporations for
quick, huge profit.  Running a corporation became like playing the
stock market.  Madrick's Taking America was originally published
in 1987, just after this wave of takeovers and mergers waned.  But
it waned not from any restoration of rationality or temperance,
but mainly from having succeeded so well.  There were scarcely any
big companies worth taking over left after the takeover frenzy, as
it was described by many.

Madrick follows this unprecedented, transformational takeover
spree occurring over the decade of the mid 1970s to the mid 1980s
mainly by following the activities of the key individuals driving
it, and as much as possible getting into their thinking, the
scheming, and the strategies.  Most of the participants in the
takeover movement who are referred to in this book were
interviewed by the author.  Most of the book's content is based on
these interviews.  Other recognizable names in the author's long
listing of individuals he interviewed are Peter Drucker, Richard
Cheney, Robert Rubin, and Felix Rohatyn.

Looking back over this period, Madrick sees a takeover movement
that lost touch with business's first principles.  These
principles take into consideration broad economic well-being for
employees and the public, not quickly-gained riches for a few.
Although Boesky and others were heavily fined or imprisoned for
illegal conduct, their view of business and business activity was
taken in by the business field.  The "dot-com bubble" of the
1990's, when many young entrepreneurs in the field of computer
technology tried to create businesses with the hope of soon being
taken over by larger companies, is one instance of the legacy of
this takeover era.  The Enron approach to business is another; as
are the business activities, particularly the financial
legerdemain, of WestCom, Tyco, and Adelphia, to name a few.  In
Taking America, Madrick sheds much light on the origins of
widespread problems in today's business world.



                           *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers'
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR. Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com/

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

For copies of court documents filed in the District of Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911.  For
bankruptcy documents filed in cases pending outside the District
of Delaware, contact Ken Troubh at Nationwide Research &
Consulting at 207/791-2852.

                           *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland,
USA.  Marites Claro, Joy Agravante, Rousel Elaine Tumanda, Howard
C. Tolentino, Joseph Medel C. Martirez, Denise Marie Varquez,
Philline Reluya, Ronald C. Sy, Joel Anthony G. Lopez, Cecil R.
Villacampa, Sheryl Joy P. Olano, Carlo Fernandez, Christopher G.
Patalinghug, and Peter A. Chapman, Editors.

Copyright 2010.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $775 for 6 months delivered via e-
mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Christopher
Beard at 240/629-3300.

                  *** End of Transmission ***