TCR_Public/100409.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, April 9, 2010, Vol. 14, No. 97

                            Headlines

3-D WOODCRAFT: Case Summary & 20 Largest Unsecured Creditors
944 MEDIA: Lawsuits Forced Chapter 11 Filing
A & W REAL ESTATE: Case Summary & 3 Largest Unsecured Creditors
ABDO JOSEPH: Case Summary & 3 Largest Unsecured Creditors
ABITIBIBOWATER INC: Lenders OK DIP Loan Extension Until May 5

ADVENTURE I-45: Case Summary & 3 Largest Unsecured Creditors
ALAMO IRON: Case Summary & 21 Largest Unsecured Creditors
ALMADEN ASSOCIATES: Taps Joel K. Belway as Bankruptcy Counsel
ALMADEN ASSOCIATES: Wants to Use Rental Income of Real Property
AMBAC FINANCIAL: Reports $558.124-Mil. Net Income for Q4 2009

AMBRILIA BIOPHARMA: To Get Funding from Disposition of LP Interest
AMERICAN BIO: UHY LLP Raises Going Concern Doubt
AMERICAN INT'L: Elects Henry S. Miller to Board of Directors
ANGELINA GAILEY: Case Summary & 3 Largest Unsecured Creditors
ARCHIE GROUP: Voluntary Chapter 11 Case Summary

ARYX THERAPEUTICS: Ernst & Young Raises Going Concern Doubt
ASARCO LLC: Submits Post-Confirmation Report for Dec. Period
ASARCO LLC: Asbestos Trust Has Nod to End 2 Escrow Pacts
ASARCO LLC: Sterlite Insists on Claim for $6.1-Mil. Reimbursement
ASARCO LLC: Says Fulbright Had "Abusive Billing Practices"

ASSOCIATED OF L.A.: Case Summary & 20 Largest Unsecured Creditors
ATLANTIC FACILITIES: No Unsecured Creditors Committee Appointed
ATLANTIC FACILITIES: Taps Stubbs & Perdue as Bankruptcy Counsel
ATLANTIC UNDERGROUND: Voluntary Chapter 11 Case Summary
B&B INDUSTRIES: Case Summary & 20 Largest Unsecured Creditors

BANCO INTERNACIONAL: Moody's Puts 'Ba3' Rating on $150 Mil. Notes
BASHAS' INC: Last Minute Talks with Bondholders Delay Plan
BEAUTY VENTURES: Voluntary Chapter 11 Case Summary
BELTWAY-GESSNER: Case Summary & 3 Largest Unsecured Creditors
BHAVIJIT HOSPITALITY: Summary & 18 Largest Unsecured Creditors

BHUNASHAVARI LLLC: Case Summary & 3 Largest Unsecured Creditors
BRENTWOOD GROUP NO. 2: Voluntary Chapter 11 Case Summary
BRENTWOOD GROUP NO. 3: Voluntary Chapter 11 Case Summary
BRIAND PROPERTIES: Case Summary & 3 Largest Unsecured Creditors
BRIGHT STAR: Case Summary & 3 Largest Unsecured Creditors

BROWN JORDAN: Near Covenant Breach Won't Move Moody's 'B2' Rating
BRUCE FELDER: Case Summary & 20 Largest Unsecured Creditors
BWC BUILDERS: Case Summary & 16 Largest Unsecured Creditors
CAL INVESTMENTS: U.S. Trustee Withdraws Motion to Convert Case
CAL-ONTARIO, INC: Case Summary & 20 Largest Unsecured Creditors

CALVARY IN SAVANNAH: Files for Bankruptcy to Replace Finances
CG JCF: Moody's Affirms Corporate Family Rating at 'B2'
CHRYSLER LLC: Cryonic Life Seeks Allowance of $872-Mil. Claim
CHRYSLER LLC: Reaches Deal with N. Carolina on Dealership Issues
CHRYSLER LLC: To Reinstate 50 of 789 Scrapped Dealers

CHRYSLER LLC: March Sales Up 51% from February
CIRCUIT CITY: Mitsubishi Fights Bar on $5.5M Circuit Claims
CKE RESTAURANTS: S&P Puts 'BB-' Rating on CreditWatch Negative
CONSECO INC: Sheldon Solow Drops Suit Over Sale of GM Building
CORRIDOR PROJECTS, THE: Case Summary & 20 Largest Unsec. Creditors

CREDITWEST CORP: Voluntary Chapter 11 Case Summary
CUMULUS MEDIA: Has Investment Partnership with Crestview
CYPRESS NILKANTH: Case Summary & Four Largest Unsecured Creditors
DANIEL TARVER: Case Summary & 20 Largest Unsecured Creditors
DEATH ROW: Buyer Sued for Civil Contempt by Partners

DEFAIR FARMS: Voluntary Chapter 11 Case Summary
DIERK HAGEMANN: Case Summary & 17 Largest Unsecured Creditors
DUC CONG: Case Summary & 3 Largest Unsecured Creditors
DYCOM INDUSTRIES: Moody's Says Neg. Outlook on CFR May Stabilize
EARLL URG: Case Summary & 17 Largest Unsecured Creditors

EAST YORK: Case Summary & 2 Largest Unsecured Creditors
EASTER PLANTATION: Voluntary Chapter 11 Case Summary
EIGEN INC: DIP Financing, Cash Collateral Use Gets Interim Nod
ELECTRICAL COMPONENTS: Gets Interim Nod to Obtain DIP Financing
EMPIRE PETROLEUM: Losses Prompt Going Concern Doubt

ENVIRONMENTAL POWER: Caturano & Company Raises Going Concern Doubt
ERNST & YOUNG: Oversight Board Launches Probe on Lehman Role
ESCADA AG: EUSA Seeking Approval of Plan Outline on April 29
ESCADA AG: U.S. Trustee Opposes EUSA's Plan Outline
FARLEY INC: Owner to Pay $7.8 Million to Settle PBGC Claims

FRASER PAPERS: Canada Court Gives Final Nod to Sale to Twin Rivers
FREESCALE SEMICONDUCTOR: Moody's Assigns 'B2' Rating on Notes
FREESCALE SEMICONDUCTOR: S&P Puts 'B-' Rating on $750 Mil. Notes
G.E. HOSPITALITY: Case Summary & 9 Largest Unsecured Creditors
GEMS TV: Case Summary & 20 Largest Unsecured Creditors

GENERIC DRUG: Moody's Assigns 'B2' Corporate Family Rating
GLOBAL GEOPHYSICAL: S&P Assigns 'B' Rating on $200 Mil. Notes
GOODING'S SUPERMARKETS: Files for Chapter 11 Bankruptcy Again
GOODING'S SUPERMARKETS: Case Summary & 20 Largest Unsec. Creditors
GRACE WU: Case Summary & 20 Largest Unsecured Creditors

GRAND CAY: Case Summary & 3 Largest Unsecured Creditors
GRAY TELEVISION: Amalgamated Gadget Holds 4.6% of Common Stock
GRAY TELEVISION: Dimensional Fund Holds 6.09% of Common Stock
GRAY TELEVISION: Highland Capital Holds 0.01% of Common Stock
GRAY TELEVISION: Posts Net Loss for 3rd Consecutive Year

GREATER GERMANTOWN HOUSING: Chapter 11 Case Summary
HAEMACURE CORPORATION: Angiotech Closes Purchase Some Assets
HAWAIIAN TELCOM: Files Registration to Become Publicly Traded
HARMAN INTERNATIONAL: S&P Gives Pos. Outlook; Affirms 'B+' Rating
HARVARD DRUG: S&P Assigns Corporate Credit Rating at 'B'

HERRERA, HERRERA: Case Summary & 20 Largest Unsecured Creditors
HOLIDAY 360: Case Summary & 20 Largest Unsecured Creditors
HOME INTERIORS: Plan Confirmation Hearing Scheduled for May 26
HOTEL 635: Case Summary & 20 Largest Unsecured Creditors
HYDE PARK: Case Summary & 20 Largest Unsecured Creditors

ICAGEN INC: Ernst & Young Raises Going Concern Doubt
ILX RESORTS: Posts $1.9 Million Net Loss in 2009
INTEGRA TELECOM: Moody's Assigns 'B2' Rating on $210 Mil. Notes
INTEGRA TELECOM: S&P Puts 'CCC+' Rating on CreditWatch Positive
ISHA DEVELOPMENT: Case Summary & 20 Largest Unsecured Creditors

JEFFERSON COUNTY: Most Commission Candidates Reject Bankruptcy
JERRY HERLING: Case Summary & 20 Largest Unsecured Creditors
JARAE PROPERTIES: Case Summary & Unsecured Creditor
KMART CORP: Appeals Court Clears Sears et al From Shareholder Suit
KAO PROPERTIES: Case Summary & 3 Largest Unsecured Creditors

LEHMAN BROTHERS: Oversight Board Launches Probe on Ernst & Young
LOS ANGELES, CALIF: Faces $10-Mil. Shortfall by May 5
LYDIA CLADEK: Involuntary Chapter 11 Case Summary
LYDIA CLADEK: Voluntary Chapter 11 Case Summary
MAGUIRE PROPERTIES: Balyasny Funds Hold 6.51% of Common Stock

MAGUIRE PROPERTIES: David Tepper's Appaloosa Holds 8.97% of Shares
MAGUIRE PROPERTIES: Former CEO Sells Off Shares; Has 9.8% Stake
MAGUIRE PROPERTIES: Scoggin Capital et al., Disclose Equity Stake
MAGUIRE PROPERTIES: Vanguard Group Holds 3.47% of Common Stock
MAGUIRE PROPERTIES: Wesley Capital No Longer Holds Shares

MANAGEMENT SERVICES: Voluntary Chapter 11 Case Summary
MARSH HAWK: Case Summary & 20 Largest Unsecured Creditors
MARTIN ALMANZAN: Case Summary & 3 Largest Unsecured Creditors
MARY LIEBL: Case Summary & 20 Largest Unsecured Creditors
MCKINNEY WILLOW: Case Summary & 6 Largest Unsecured Creditors

MDB PROPERTIES: Case Summary & Unsecured Creditor
MEGA PROFESSIONAL: Case Summary & 15 Largest Unsecured Creditors
MICHAEL BRIGGS: Voluntary Chapter 11 Case Summary
MOUNTAIN RESORT: Voluntary Chapter 11 Case Summary
MUNDYS MILL: Case Summary & 2 Largest Unsecured Creditors

N & S HOSPITALITY: Case Summary & 11 Largest Unsecured Creditors
NICHOLAS NIKITAS: Voluntary Chapter 11 Case Summary
OPTELECOM-NKF INC: KPMG LLP Raises Going Concern Doubt
ORGANIC GROWING: Voluntary Chapter 11 Case Summary
OTAY-ADEJO PROPERTIES: Case Summary & 7 Largest Unsec. Creditors

PALMDALE HILLS: SunCal Says Lehman Repurchase Could Block Suits
PLAZA LLC: Court Approves Chapter 11 Plan; Auction on April 21
PNN ENTERPRISE: Case Summary & 3 Largest Unsecured Creditors
PONCE BUSINESS: Files for Chapter 11 Bankruptcy
PPM TECHNOLOGIES: Voluntary Chapter 11 Case Summary

PRESTIGE BRANDS: Closes Tender Offer for 2012 Notes
RANCHO SUPERMARKET: Case Summary & 3 Largest Unsecured Creditors
RICHARD SOLIS: Voluntary Chapter 11 Case Summary
ROBERT PELSHAW: Case Summary & 20 Largest Unsecured Creditors
ROBERT RIGGS: Case Summary & 20 Largest Unsecured Creditors

ROCK & REPUBLIC: Voluntary Chapter 11 Case Summary
RODOLFO ZAMORA: Case Summary & 8 Largest Unsecured Creditors
ROCKY MOUNTAIN: Voluntary Chapter 11 Case Summary
RQB RESORT: Goldman Seeks to Foreclose on Sawgrass Marriott
RSA COMPANY: Voluntary Chapter 11 Case Summary

SAMUEL DANIELS: Voluntary Chapter 11 Case Summary
SLOAN ZSIROS: Case Summary & 3 Largest Unsecured Creditors
SNP BOAT SERVICES: Files Chapter 15 Petition
SOURCE INTERLINK: Names Michael Sullivan as New CEO & Director
SOUTHWEST WHOLESALE: Case Summary & 20 Largest Unsecured Creditors

STALLION OILFIELD: S&P Withdraws 'CCC+' Corp. Credit Rating
STAY 190: Case Summary & 20 Largest Unsecured Creditors
SUPEVALU INC: S&P Affirms 'BB-' Corporate Credit Rating
SUTTER BUTTES: Case Summary & 9 Largest Unsecured Creditors
TALBOTS INC: Completes BPW Acquisition

TERRACE POINTE: Voluntary Chapter 11 Case Summary
THEODORE CARTER: Case Summary & 20 Largest Unsecured Creditors
THOMAS CHRISTOPHERSON: Case Summary & 20 Largest Unsec Creditors
TOMAR TRUCKING: Case Summary & 20 Largest Unsecured Creditors
TONEATA MARTOCCIO: Case Summary & 20 Largest Unsecured Creditors

TOPAZ CAPITAL: Case Summary & 15 Largest Unsecured Creditors
TRAHRAEG HOLDING: Case Summary & 2 Largest Unsecured Creditors
TRIBUNE CO: Lenders Want Rule 2004 Exam on Centerbridge
TRIBUNE CO: Lazard Work Now Include TVFN Business Review
TRIBUNE CO: Retained Professionals Have Billed $138 Million

TWIN WINGS: Files for Chapter 11 Bankruptcy Protection
US FIDELIS: Judge Freezes Owners' Personal Assets
VALEANT PHARMACEUTICALS: Moody's Puts 'Ba3' Rating on Senior Notes
VALEANT PHARMACEUTICALS: S&P Raises Corp. Credit Rating to 'BB-'
VENTURES AT STONEBRIDGE: Case Summary & Creditors List

VICTORY TOWNHOUSE: Case Summary & 17 Largest Unsecured Creditors
VINCENT RANDOLPH SCHMIDT: Voluntary Chapter 11 Case Summary
VIVAKOR INC: McGladrey & Pullen Raises Going Going Concern Doubt
WESTLAND DEVCO: Case Summary & 20 Largest Unsecured Creditors
WILCO 1136: Voluntary Chapter 11 Case Summary

WILLIAM LINDSEY: Voluntary Chapter 11 Case Summary
WILLIAM LYON HOMES: Posts Net Loss for Third Consecutive Year
WILLIAM MESHIER: Voluntary Chapter 11 Case Summary
WOODMARK DEVELOPMENT: Case Summary & 3 Largest Unsecured Creditors
W.R. GRACE: To Supply Polypropylene Catalysts to Borealis AG

XERIUM TECHNOLOGIES: Combined Hearing on Prepack Plan on May 12
XERIUM TECHNOLOGIES: Wants Schedules Filing Until June 28
XERIUM TECHNOLOGIES: Wants to Waive Section 341 Meeting
ZALE CORP: Citi Canada to End Credit Card Program on June 30
ZALE CORP: Has Until April 30 to Pay $6 Mil. to Citi-South Dakota

ZALE CORP: Centerbridge, TPG and Golden Gate in Bidding War
ZAYAT STABLES: Files Suit vs. Fifth Third Over Default Notice

* Keith Northern Named One of People to Watch-2010
* Nicholas Barrett & Associates Promotes Atty. Patricia Davis
* Winston Bankruptcy Partner Jumps to Cooley

* BOOK REVIEW: Rupert Murdoch: Creator of a Worldwide Empire


                            *********


3-D WOODCRAFT: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: 3-D Woodcraft, Inc.
        60909 Highway 49
        Lineville, AL 36266

Bankruptcy Case No.: 10-40976

Chapter 11 Petition Date: April 5, 2010

Court: U.S. Bankruptcy court
       Northern District of Alabama (Anniston)

Debtor's Counsel: Harry P. Long, Esq.
                  PO Box 1468
                  Anniston, AL 36202
                  Tel: 256-237-3266
                  E-mail: hlonglegal@aol.com

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

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

According to the schedules, the Company says that assets total
$570,500 while debts total $1,230,334.

A copy of the Company's list of 20 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/alnb10-40976.pdf

The petition was signed by Andrew Skros, president.


944 MEDIA: Lawsuits Forced Chapter 11 Filing
--------------------------------------------
944 Media, LLC, disclosed that in order to assure its continued
operation in the face of several potentially burdensome lawsuits,
it has voluntarily filed for protection under Chapter 11 of the
U.S. Bankruptcy Code.

The bankruptcy filing was precipitated by certain litigation,
including two state court lawsuits filed against the Debtor.
Founder and CEO Marc Lotenberg emphasized that publication of its
magazines in the ten markets it serves and operation of 944.com
will continue as usual.  "The whole point of this proceeding is to
enable us to keep doing what we do while resolving the litigation
in an orderly process.  We are confident that 944 Media will be
able to resolve our pending issues, but prudence dictates that we
take steps to protect ourselves, our employees and our clients
through the Chapter 11 process."

Mr. Lotenberg stated that employees will be paid as normal as they
always have and that its magazines will be printed and distributed
and 944.com will continue to operate without interruption.  He
added that the company has received new financing to ensure that
there is no disruption in service of 944.com and publishing of its
magazines throughout the restructuring process.  Vendors can
expect to be paid in the ordinary course for goods and services
purchased after the filing date.  The process is expected to be
resolved expeditiously.

944 Media continues to be a leader in the lifestyle sector.  In
the past 90 days, the Company has signed advertising agreements
with four new Fortune 500 companies and revenues for its May book
are at record levels.  On the content and events front, 944
continues to innovate.

On April 17, 944 will co-host with Bolthouse VOX Events and PMK *
BNC Carnival at Coachella, at the hottest music event in Southern
California.  This one-of-a-kind event will bring the stars to the
desert with a slew of both traditional and cutting-edge
attractions, including thrill rides, carnival games, a dunk tank,
a ring toss booth, a jumbo-size gaming station, live DJs, gourmet
picnic grounds and interactive experiences.  Strictly invitation-
only, the event will be designed to wow 1,000 celebrities and
V.I.P.s who will gladly leave the city behind to play in the sands
of Indio, California.

Later this spring, 944 will unveil a new logo and a refreshed,
streamlined and modern look for the magazine and 944.com, taking
the brand's look and feel to a more sophisticated level that
addresses the changing expectations of their audience of insiders
and influencers.

This summer 944 will enhance digital integration and robustness --
making the web its first priority, and showcasing 944 as a
multiplatform content company.  Its editors are focusing on
websites, mobile platforms, social networks, tweeting, and
uploading video to allow for real-time reporting.

Also, in September, 944 will be adding a 16-page city guide to
each book that will serve as a handbook for readers wanting the
latest in things to experience at the local level from music, and
film to dining and culture in each 944 market.

"We would have preferred to avoid having to resort to the Chapter
11 process," Mr. Lotenberg said.  "However, our priority is to our
employees, clients and readers.  We feel an obligation to do
everything we can to continue to serve them and secure a strong
future for 944 going forward."

The case was filed in the U.S. Bankruptcy Court in the Central
District of California in Los Angeles.

                         ABOUT 944 MEDIA

Anchored by 944 Magazine, an award winning fashion, entertainment
and lifestyle publication headquartered in Los Angeles, CA, 944
Media has created a unique lifestyle media portfolio in the
country's largest entertainment hubs: Atlanta, Dallas, Detroit,
Las Vegas, Los Angeles, Miami, Orange County, Phoenix, San Diego
and San Francisco.  944 readers are influential and aspirational
adults 21 to 44 with a zest for What's Now and Next.  944 delivers
design-forward print and online content, special events, and a
custom publishing division with a non-traditional targeted
distribution platform, including more than 5,000 strategic
distribution locations and placement in 35,000 luxury hotel rooms
nationwide. 944 Magazine has a guaranteed circulation of 3.4
million copies per year.  As a complement to the print
publication, 944's online platform, http://www.944.com,thrives on
constantly connecting with tastemakers with daily content
attracting more than 2.5 million unique viewers per month.

Inc. Magazine recently named 944 Media on its signature "Inc. 500
I 5000" list, honoring the fastest growing privately held
companies in the nation.  In 2008, 944 Media CEO and Founder Marc
Lotenberg was listed as number 21 on Inc.'s coveted "America's
Coolest Young Entrepreneurs: 30 Under 30." FOLIO magazine recently
also recognized 944 Media in "FOLIO: 40," acknowledging the
individuals creating a new chapter in the magazine industry.


A & W REAL ESTATE: Case Summary & 3 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: A & W Real Estate II, Ltd.
        1303 Calle del Norte No. 800-8A
        Laredo, TX 78041-06041

Bankruptcy Case No.: 10-50087

Chapter 11 Petition Date: April 5, 2010

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

Judge: Wesley W. Steen

Debtor's Counsel: J Alberto Alarcon, Esq.
                  Hall Quintanilla et al
                  P. O. Box 207
                  Laredo, TX 78040
                  Tel: (956) 723-5527
                  E-mail: aalarcon@sbcglobal.net

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

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

A list of the Company's 3 largest unsecured creditors is available
for free at http://bankrupt.com/misc/txsb10-50087.pdf

The petition was signed by Daniel D. Wyers.


ABDO JOSEPH: Case Summary & 3 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Abdo Joseph Droubi
        11411 Memorial Circle
        Houston, TX 77024

Bankruptcy Case No.: 10-32800

Chapter 11 Petition Date: April 5, 2010

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

Judge: Karen K. Brown

Debtor's Counsel: Barbara Mincey Rogers, Esq.
                  Rogers & Anderson, PLLC
                  1415 North Loop West, Suite 1020
                  Houston, TX 77008
                  Tel: (713) 868-4411
                  Fax: (713) 868-4413
                  E-mail: barbaramrogers@swbell.net

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

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

A list of the Company's 3 largest unsecured creditors is available
for free at http://bankrupt.com/misc/txsb10-32800.pdf


ABITIBIBOWATER INC: Lenders OK DIP Loan Extension Until May 5
-------------------------------------------------------------
BankruptcyData.com reports that AbitibiBowater Inc. is seeking a
seeking a two-week extension of the maturity date on its debtor-
in-possession financing.  The DIP loan is currently scheduled to
mature on April 21, 2010, but the credit agreement provides for an
automatic three-month extension if the Company files a plan of
reorganization by the maturity date.  The Company explains that
its plan negotiations are not yet finalized.  As a result, the DIP
facility lenders have agreed to extend the maturity date to May 5,
2010.

                     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).


ADVENTURE I-45: Case Summary & 3 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Adventure I-45, Ltd.
        200 Hughes Road
        Dickinson, Tx 77539

Bankruptcy Case No.: 10-80203

Chapter 11 Petition Date: April 5, 2010

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

Judge: Letitia Z. Paul

Debtor's Counsel: Erin E Jones, Esq.
                  Jones Morris, LLP
                  2700 Post Oak, Suite 1120
                  Houston, TX 77056
                  Tel: (713) 589-5061
                  Fax: (713) 589-5513
                  E-mail: erin@jonesmorris.com

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

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

A list of the Company's 3 largest unsecured creditors is available
for free at http://bankrupt.com/misc/txsb10-80203.pdf

The petition was signed by Duc Cong Vuong, GP Managing Member,
A.I. 45, LLC.


ALAMO IRON: Case Summary & 21 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Alamo Iron Works, Inc.
        943 AT&T Center Parkway
        San Antonio, TX 78219

Case No.: 10-51269

Chapter 11 Petition Date: April 5, 2010

Court: U.S. Bankruptcy Court
       Western District of Texas (San Antonio)

Judge: Ronald B. King

Debtor's Counsel: David S. Gragg, Esq.
                  Langley & Banack, Inc
                  Trinity Plaza II
                  745 E Mulberry, Suite 900
                  San Antonio, TX 78212
                  Tel: (210) 736-6600
                  Fax: (210) 735-6889
                  E-mail: dgragg@langleybanack.com

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

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

A list of the Debtor's 21 largest unsecured creditors is available
for free at http://bankrupt.com/misc/txwb10-51269.pdf


ALMADEN ASSOCIATES: Taps Joel K. Belway as Bankruptcy Counsel
-------------------------------------------------------------
Almaden Associates, LLC, asks the U.S. Bankruptcy Court for the
Northern District of California for permission to employ Law
Offices of Joel K. Belway as counsel.

Joel K. Belway, Esq., will advise and represent the Debtor in the
administration of the Chapter 11 case.


Mr. Belway tells the Court that he received a pre-bankruptcy
retainer of $25,000 from the Debtor's funds.  Mr. Belway's hourly
rate is $300.

To the best of the Debtor's knowledge, the firm is a
"disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code.

The firm can be reached at:

     Law Offices of Joel K. Belway
     235 Montgomery St. #668
     San Francisco, CA 94104
     Tel: (415) 788-1702
     E-mail: belwaypc@pacbell.net

Dublin, California-based Almaden Associates, LLC, filed for
Chapter 11 bankruptcy protection on Feb. 22, 2010 (Bankr. N.D.
Calif. Case No. 10-41903).  The Company estimated its assets and
debts at $10,000,001 to $50,000,000.


ALMADEN ASSOCIATES: Wants to Use Rental Income of Real Property
---------------------------------------------------------------
Almaden Associates, LLC, asks the U.S. Bankruptcy Court for the
Northern District of California for authorization to use the
rental income of its operating investment real property in which
various secured creditors claim an interest.

The Debtor needs cash to fund the operating expenses of its
properties until September 30, 2010, or the confirmation of a
Chapter 11 Plan, whichever occur first.

As adequate protection for any diminution in value of the lenders'
collateral, the Debtors will grant secured creditors replacement
liens on the Debtor's postpetition property with the same nature
and to the same extent and priority as their respective existing
liens.

Dublin, California-based Almaden Associates, LLC, filed for
Chapter 11 bankruptcy protection on Feb. 22, 2010 (Bankr. N.D.
Calif. Case No. 10-41903).  The Company estimated its assets and
debts at $10,000,001 to $50,000,000.


AMBAC FINANCIAL: Reports $558.124-Mil. Net Income for Q4 2009
-------------------------------------------------------------
Ambac Financial Group, Inc., on Thursday reported net income of
$558.124 million for the fourth quarter ended December 31, 2009,
from a net loss of $2.340 billion for the 2008 fourth quarter.
However, Ambac turned to a $14.616 million net loss for the year
from a net loss of $5.609 billion for 2008.

Ambac said the fourth quarter 2009 results reflect a tax benefit
recorded during the period, reduced loss and loss expenses
recorded relative to fourth quarter 2008, and unrealized mark-to-
market gains in the credit derivatives portfolio.  In 2008,
Ambac's fourth quarter results reflected a significant negative
net change in fair value of credit derivatives, higher loss and
loss adjustment expenses and a large increase in the deferred tax
asset valuation allowance.

A tax benefit of $472.0 million was recorded primarily as a result
of legislation that passed during the quarter that allows Ambac to
carry back 2008 and 2009 operating losses as far back as 2003.
Ambac Assurance Corporation, Ambac's principal operating
subsidiary, received the tax refund amounting to $443.9 million in
February 2010.

Ambac said losses and loss expenses in the fourth quarter of 2009
were primarily related to further credit deterioration in the
first-lien segment of the insured residential mortgage-backed
securities portfolio, and to a lesser degree, credit deterioration
in certain student loan transactions, partially offset by net
reserve reductions in certain insured non-consumer asset-backed
securities.

At December 31, 2009, the Company had total assets of $18.886
billion against total liabilities of $20.520 billion.

Total assets increased by approximately $787 million during the
fourth quarter of 2009, primarily due to recording the tax
recoverable related to the new tax legislation that passed during
the fourth quarter of 2009, and the consolidation of certain
trusts that AAC has insured and consolidated under accounting
pronouncement ASU 2009-17 (formerly known as FIN 46R), partially
offset by commutations of CDO of ABS transactions and RMBS and
other claim payments made during the quarter.

Cash, short-term securities and bonds at the holding company
amounted to $136.5 million as of December 31, 2009.  Ambac's
annual debt service costs amount to approximately $89.0 million.

In March 2010, the Office of the Commissioner of Insurance of the
State of Wisconsin commenced Segregated Account Rehabilitation
Proceedings to permit the OCI to facilitate an orderly run-off or
settlement of the liabilities allocated to the Segregated Account.
As a result of the actions taken by OCI, financial guarantee
payments on securities guaranteed by AAC which have been placed in
the Segregated Account are no longer under the control of Ambac
management.  In addition, Ambac announced that it has reached a
non-binding agreement on the terms of a proposed settlement
agreement with several counterparties to commute substantially all
of its remaining CDOs of ABS.  As a result, it is highly unlikely
that AAC will be able to make dividend payments to Ambac for the
foreseeable future.

The Board of Directors has set the 2010 Annual Meeting of
Stockholders for Monday, June 14, 2010, at 1:00 p.m. in New York
City.  The record date for determining stockholders entitled to
notice of, and to vote at, the annual meeting will be the close of
business, April 20, 2010.

A full-text copy Ambac's earnings release is available at no
charge at http://ResearchArchives.com/t/s?5f58

                      About Ambac Financial

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

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

On March 30, 2010, the Troubled Company Reporter said Moody's
Investors Service has lowered the rating of the senior unsecured
debt of Ambac Financial to C from Ca, and placed the Caa2
insurance financial strength ratings of Ambac Assurance on review
for possible upgrade.  Moody's also placed the Caa2 IFSR for Ambac
Assurance UK Limited (AUK) on review with direction uncertain.

Dow Jones has noted that Ambac once boasted top triple-A credit
ratings.  In November 2009, Ambac warned it could have problems
paying off debt that comes due in 2011.  According to Dow Jones,
Ambac Financial said it was considering strategies that include a
prepackaged bankruptcy-court filing.

Before the financial crisis, Ambac was the second-biggest bond
insurer behind MBIA Inc.


AMBRILIA BIOPHARMA: To Get Funding from Disposition of LP Interest
------------------------------------------------------------------
The boards of directors of Ambrilia Biopharma Inc. and its
subsidiary, Cellpep Pharma Inc., have approved a proposed
transaction whereby Ambrilia and Cellpep would receive additional
non-dilutive financing through the disposition of a limited
partnership interest.  Before expenses to be incurred in
connection with this potential transaction, a gain in the amount
of approximately $4M could be realized by Ambrilia and Cellpep
upon the closing of such transaction.  Ambrilia will apply to the
Superior Court of Quebec (Commercial Division) for an order
authorizing it to proceed with such transaction.

Ambrilia is continuing its restructuring and its efforts to
monetize its assets.  In the context of that process, Raymond
Chabot Inc., the Court appointed Monitor under the Companies'
Creditors Arrangement Act, has launched a process aimed at either
monetizing Ambrilia's assets, including its HIV Portfolio for the
treatment of HIV/AIDS and its HCV Program, or selling or merging
the Company, or obtaining funding for the development of its
Portfolio for the treatment of HIV/AIDS and its HCV Program.  Any
questions or offer with respect to this process should be made to
Patrick-Claude Dionne who can be reached at e-mail:
Dionne.PatrickClaude@rcgt.com/

Any recovery for creditors and other stakeholders, including
shareholders, is uncertain and is highly dependent upon a number
of factors, including the outcome of Ambrilia proceedings under
the CCAA.

                      About Ambrilia Biopharma

Ambrilia Biopharma Inc. (CA:AMB 0.03, 0.00, 0.00%)  is a
biotechnology company focused on the discovery and development of
novel treatments for viral diseases and cancer.  The Company's
strategy aims to capitalize on its broad portfolio and original
expertise in virology.  Ambrilia's product portfolio is comprised
of oncology and antiviral assets, including two new formulations
of existing peptides for cancer treatment, a targeted delivery
technology for cancer, an HIV protease inhibitor program as well
as HIV integrase and entry inhibitors, Hepatitis C virus
inhibitors and anti-Influenza A compounds.  Ambrilia's head
office, research and development and manufacturing facilities are
located in Montreal.  For more information, please visit the
Company's web site: www.ambrilia.com.

The Company is currently subject to court protection under the
Companies' Creditors Arrangement Act (Canada) ("CCAA").


AMERICAN BIO: UHY LLP Raises Going Concern Doubt
------------------------------------------------
American Bio Medica Corporation filed its annual report on Form
10-K, showing a net loss of $900,000 on $9,726,000 of revenue for
2009, compared with a net loss of $850,000 on $12,657,000 of
revenue for 2008.

UHY LLP, in Albany, N.Y., 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 liquidity constraints.

The Company's balance sheet as of December 31, 2009, showed
$7,040,000 in assets, $3,662,000 of debts, and $3,378,000 of
stockholders' equity.

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

                  http://researcharchives.com/t/s?5f35

Kinderhook, N.Y.-BASED American Bio Medica Corporation develops,
manufactures and sells immunoassay diagnostic tests, primarily for
the immediate, point of collection testing for drugs of abuse in
urine and oral fluids.


AMERICAN INT'L: Elects Henry S. Miller to Board of Directors
------------------------------------------------------------
The Board of Directors of American International Group, Inc.,
elected Henry S. Miller a Director.

"We are fortunate to have a Director with the experience and
perspective that Henry Miller will bring to the AIG Board," said
Harvey Golub, Chairman of the AIG Board of Directors.  "Henry will
be a valuable addition as we continue to work to restore AIG as a
strong company with solid businesses and to repay the U.S.
government for its financial assistance."

Mr. Miller, 64, is Chairman, Managing Director and co-founder of
Miller Buckfire & Co., LLC, a market-leading investment bank
specializing in corporate restructuring, M&A, debt and equity
financing and strategic advisory services.  He is also Chairman
and Chief Executive Officer of its affiliated business Marblegate
Asset Management, an investment manager focused on investing in
distressed credit and other special situation deep value
opportunities.  Prior to founding Miller Buckfire, Mr. Miller was
Vice Chairman and a Managing Director at Dresdner Kleinwort
Wasserstein, where he served as the global head of the firm's
financial restructuring group.  Prior to that, Mr. Miller was
Managing Director and Head of both the Restructuring Group and
Transportation Industry Group of Salomon Brothers. Mr. Miller
received his Bachelor of Arts degree from Fordham University
College of Arts and Sciences (now called Fordham College at Rose
Hill) and a Masters of Business Administration degree from
Columbia University's Graduate School of Business.

                             About AIG

Based in New York, American International Group, Inc., is an
international insurance organization with operations in more than
130 countries and jurisdictions.  AIG companies serve commercial,
institutional, and individual customers through one of the most
extensive worldwide property-casualty networks of any insurer.  In
addition, AIG companies provide life insurance and retirement
services around the world.  AIG 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.


ANGELINA GAILEY: Case Summary & 3 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Angelina Gailey Wiseman
        2011 Commonwealth Ave
        Houston, TX 77006
        214 245 4625

Bankruptcy Case No.: 10-32826

Chapter 11 Petition Date: April 5, 2010

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

Judge: Wesley W. Steen

Debtor's Counsel: Donald Scott MacKenzie, Esq.
                  Attorney at Law
                  9603 White Rock Trail
                  Ste 324
                  Dallas, TX 75238
                  Tel: (214) 245-4625
                  Fax: (214) 764-0780
                  E-mail: dallaslaw@gmail.com

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

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

A list of the Company's 3 largest unsecured creditors is available
for free at http://bankrupt.com/misc/txsb10-32826.pdf

The petition was signed by the Debtor


ARCHIE GROUP: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: Archi Group, Inc.
        2060 W. Spring Creek Pkwy
        Suite 102
        Plano, TX 75023

Bankruptcy Case No.: 10-41079

Chapter 11 Petition Date: April 5, 2010

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

Debtor's Counsel: Robert M. Nicoud, Jr., Esq.
                  1201 Main, Suite 2470
                  Dallas, TX 75202
                  Tel: (214) 979-7300
                  E-mail: rmnicoud@dallas-law.com

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

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

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

The petition was signed by Samuel Sung Kim, president.


ARYX THERAPEUTICS: Ernst & Young Raises Going Concern Doubt
-----------------------------------------------------------
ARYx Therapeuics, Inc., filed on March 30, 2010, its annual report
on Form 10-K for the year ended December 31, 2009.

Ernst & Young LLP, in Palo Alto, Calif., expressed substantial
doubt about the Company's ability to continue as a going concern.
The independent auditors noted of the Company's recurring losses
from operations and stockholders' deficit.

The Company reported a net loss of $33.2 million for 2000,
compared with a net loss of $31.2 million for 2008.  For 2009,
ARYx had no revenue compared to $19.7 million for the full year
2008.

The Company's balance sheet as of December 31, 2009, showed
$12.4 million in assets and $15.3 million of debts, for a
stockholders' deficit of $2.9 million.

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

               http://researcharchives.com/t/s?5f06

Fremont, Calif.-based ARYx Therapeutics, Inc. (NASDAQ: ARYX)
-- http://www.aryx.com/-- is a biopharmaceutical company focused
on developing a portfolio of internally discovered product
candidates designed to eliminate known safety issues associated
with well-established, commercially successful drugs.


ASARCO LLC: Submits Post-Confirmation Report for Dec. Period
------------------------------------------------------------
Mark A. Roberts of Alvarez and Marsal North America, LLC, as Plan
Administrator, prepared a post-confirmation report for the period
from December 9 to 31, 2009 for ASARCO LLC and its affiliates.

As previously reported, the Chapter 11 Plan for the ASARCO LLC
Debtors was declared effective on December 9, 2009.  On that
date, the Plan Administrator received funds, totaling
$3,633,127,834, which were intended to pay for allowed claim
amounts and reserved for unresolved claims.

The Plan Administrator prepared tables on a summary of plan
distributions and administrative expenses incurred by the
Debtors.

                        ASARCO LLC, et al.
                    Post-Confirmation Report
                  Summary of Plan Distributions
               For Quarter Ended December 31, 2009

                               Current                   Balance
                               Quarter    Paid to Date     Due
                            ------------  -------------  -------
  Plan Admin. Fees & Expenses
  ---------------------------
Plan Admin. Compensation        $576,961       $576,961       -
Legal Fees                       109,292        109,292       -
Other Prof. Fees                       -              -       -
All Other Expenses                    56             56       -

Distributions
-------------
Admin. Expenses:
  Debtor Prof. Fees            5,950,447      5,950,447       -
  Non-Prof. Fees             302,756,514    302,756,514       -
Secured Creditors                238,416        238,416       -
Priority Creditors               262,537        262,537       -
Unsecured Creditors        3,058,807,671  3,058,807,671       -
Equity Security Holders                -              -       -
Other Payments/Transfers      71,514,618     71,514,618       -
                           ------------- -------------- -------
Total Plan Payments        $3,440,216,512 $3,440,216,512       -
                           ============= ============== =======

                        ASARCO LLC, et al.
                      Post-Confirmation Report
                          Professional Fees
                 For Quarter Ended December 31, 2009

                                    Current     Paid to  Balance
Debtor Professional Fees             Quarter      Date      Due
------------------------           ----------  ---------- -------
Barclays Capital Inc.              $5,182,010  $5,182,010      -
FTI Consulting, Inc.                  230,045     230,045      -
Anderson Kill & Olick PC              188,715     188,715      -
Jordan, Hyden, Womble & Culbreth      182,684     182,684      -
Bates White, LLC                       85,458      85,458      -
Reed Smith LLP                         26,896      26,896      -
Oppenheimer, Blend, Harrison & Tate    20,689      20,689      -
Porzio Bromberg & Newman PC            20,685      20,685      -
Law Office Of Robert C. Pate            9,652       9,652      -
Legal Analysis Systems Inc.             3,614       3,614      -
                                  ----------  ---------- -------
    Total                         $5,950,447  $5,950,447      -
                                  ==========  ========== =======

The Post-Confirmation Report was delivered to the Court on
March 26, 2010.

                       About Asarco LLC

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

ASARCO LLC filed for Chapter 11 protection on August 9, 2005
(Bankr. S.D. Tex. Case No. 05-21207).  Attorneys at Baker Botts
L.L.P., and Jordan, Hyden, Womble & Culbreth, P.C., represented
the Debtor in its restructuring efforts.

On December 9, 2009, Grupo Mexico, S.A.B. consummated the Chapter
11 plan that it sponsored for Asarco LLC.  The Plan, which was
confirmed both by the bankruptcy and district courts, reintegrated
Asarco LLC back to parent Grupo Mexico concluding the four-year
Chapter 11 proceeding.

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


ASARCO LLC: Asbestos Trust Has Nod to End 2 Escrow Pacts
--------------------------------------------------------
The Bankruptcy Court authorized the ASARCO Asbestos Personal
Injury Settlement Trust to terminate the First Wells Fargo Escrow
Agreement and the Second Wells Fargo Escrow Agreement.  The Court
directed Wells Fargo to transfer the remaining balances in the
two Wells Fargo escrow accounts to the Asbestos Trust.

The ASARCO Asbestos Personal Injury Settlement Trust relates that
two escrow accounts were established during the Debtors'
bankruptcy cases to hold the proceeds of various asbestos-related
insurance settlements.  They are:

  (1) The Asbestos Subsidiary Debtors' escrow account at Wells
      Fargo Bank; and

  (2) Certain Settling London Market Insurers' escrow account at
      Wells Fargo.

Sander L. Esserman, Esq., at Stutzman, Bromberg, Esserman &
Plifka, in Dallas, Texas, relates that on the Plan Effective
Date, the Asbestos Trust was created and funded with the "Section
524(g) Trust Assets," which includes directly or indirectly, the
Asbestos Insurance Recoveries.  The Debtors transferred to the
Asbestos Trust all of their rights relating to any "benefits
and/or proceeds of any Asbestos Insurance Policy or Asbestos
Insurance Settlement Agreement."  This includes the remaining
balances in both Wells Fargo Escrow Accounts.

Accordingly, the Asbestos Trust asked the Court to terminate the
two Wells Fargo Escrow Agreements and direct Wells Fargo to
transfer the remaining balances in the Escrow Accounts to the
Asbestos Trust.

The current balance in the First Escrow Account is $21,153 plus
accrued interest.  The Second Escrow Account has a balance of $9
plus accrued interest.

Mr. Esserman discloses that the Asbestos Trust has conferred with
Wells Fargo, Reorganized ASARCO and the Parent regarding the
relief sought, and they have no objection to the requested
relief.

                       About Asarco LLC

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

ASARCO LLC filed for Chapter 11 protection on August 9, 2005
(Bankr. S.D. Tex. Case No. 05-21207).  Attorneys at Baker Botts
L.L.P., and Jordan, Hyden, Womble & Culbreth, P.C., represented
the Debtor in its restructuring efforts.

On December 9, 2009, Grupo Mexico, S.A.B. consummated the Chapter
11 plan that it sponsored for Asarco LLC.  The Plan, which was
confirmed both by the bankruptcy and district courts, reintegrated
Asarco LLC back to parent Grupo Mexico concluding the four-year
Chapter 11 proceeding.

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


ASARCO LLC: Sterlite Insists on Claim for $6.1-Mil. Reimbursement
-----------------------------------------------------------------
Sterlite (USA), Inc., and Sterlite Industries (India) Ltd.
submitted a pre-hearing memorandum to the Court in support of a
reimbursement application for their asserted 'substantial
contribution' to the reorganization proceedings of ASARCO LLC.

The Sterlite Entities are seeking the reimbursement of (i)
$6,103,573 in fees for 9,735 hours of services rendered, and (ii)
out-of-pocket expenses amounting to $315,781.

On behalf of Sterlite, Douglas P. Bartner, Esq., at Shearman &
Sterling LLP, in New York, argues that none of ASARCO LLC's
assertions about the motivation of Sterlite in the proposed
acquisition of ASARCO LLC, whether true or not, is relevant to
the instant dispute.

"This is not a dispute over why, after more than four years of
possessing the financial wherewithal to pay ASARCO's creditors in
full but consistently choosing not to do so, the Parent finally
put forward a full payment plan.  Nor is it a dispute over why
Sterlite participated in a 'bidding war' for ASARCO's operating
assets," Mr. Bartner contends, on behalf of Sterlite.

"This is simply a dispute over why the Parent paid what it
ultimately paid to re-acquire ASARCO and whether it would have
paid the same amount in the absence of Sterlite's participation
in these cases," Mr. Bartner tells Judge Schmidt.

ASARCO speculated that Sterlite was motivated to acquire ASARCO's
operating assets "by its desire to obtain a foothold in the U.S.
market" and "to escape from the enormous shadow of the litigation
that will be pursued against it," presumably by ASARCO.  ASARCO
further noted that the Parent was motivated to re-acquire ASARCO
because of a sharp increase in copper prices, its desire to bring
an end to litigation relating to the environmental asbestos
claimants, and its desire to bring ASARCO's assets and operations
back into the fold of the larger global mining operations --
rather than anything Sterlite did.

Mr. Bartner points out that Sterlite's Substantial Contribution
Application "concerns facts remarkably similar to those that the
United States Court of Appeals for the Fifth Circuit considered
in In re DP Partners, LTD, 106 F.3d 667 (1997), the case
reflecting the governing the law in this Circuit on substantial
contribution applications."

Mr. Bartner argues that the Parent paid what it paid to re-
acquire ASARCO as a result of the bidding war that resulted from
Sterlite's continued participation in the plan negotiation and
confirmation process over nearly a year and a half.  "Sterlite's
attempt to acquire ASARCO's operating assets, and its willingness
to effectively monetize the Southern Copper Company Judgment and
to pay creditors in full, drove the Parent to pay significantly
more than it would have had Sterlite not been engaged in the
cases," he insists.

"Under the Fifth Circuit's clear authority, this constitutes a
'substantial contribution,' and the Bankruptcy Code requires that
such a contribution not go uncompensated," Mr. Bartner says.

                       About Asarco LLC

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

ASARCO LLC filed for Chapter 11 protection on August 9, 2005
(Bankr. S.D. Tex. Case No. 05-21207).  Attorneys at Baker Botts
L.L.P., and Jordan, Hyden, Womble & Culbreth, P.C., represented
the Debtor in its restructuring efforts.

On December 9, 2009, Grupo Mexico, S.A.B. consummated the Chapter
11 plan that it sponsored for Asarco LLC.  The Plan, which was
confirmed both by the bankruptcy and district courts, reintegrated
Asarco LLC back to parent Grupo Mexico concluding the four-year
Chapter 11 proceeding.

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


ASARCO LLC: Says Fulbright Had "Abusive Billing Practices"
----------------------------------------------------------
Reorganized ASARCO LLC contends that Fulbright & Jaworski L.L.P's
billing practices on its fee application as special local counsel
for the Official Committee of Unsecured Creditors is
representative of the abusive billing practices employed by many
professionals paid by the bankruptcy estates.

The Fulbright & Jaworski Fee Application is replete with
egregious billing practices, including billing the estate over
1,500 hours of time recorded between September 2007 through May
2008 by a senior partner for two recurring time entries at a cost
of over $1.1 million, Charles A. Beckham, Jr., Esq., at Haynes
and Boone, LLP, in Houston, Texas --
charles.beckham@haynesboone.com -- contends.  "The aggregate cost
of the identical recurring time entries comprise approximately
20% of Fulbright's sought award," he asserts.

Vague descriptions of nearly a full year of services deprive
ASARCO of any ability to determine what services the Fulbright
senior partner actually provided, Mr. Beckham adds.

"Due to its improper billing practices," Mr. Beckham points out,
"Fulbright cannot demonstrate that the services and expenses for
which it requests compensation were necessary, conferred a
material benefit on the estate, and were not duplicative of
services provided by other professionals."

Mr. Beckham further argues that Fulbright's Application does not
comply with the Court's Application and Expense Guidelines,
rendering it impossible for the Court to determine that
Fulbright's services were necessary and provided a benefit to the
estate.

Against this backdrop, ASARCO asks that Fulbright's fee request
be substantially reduced.

                          *     *     *

Judge Schmidt allowed the final fee applications of Grant
Thornton LLP and Quarles & Brady LLP:

Professional                       Fees         Expenses
------------                   ------------    ----------
Grant Thornton LLP               $1,111,496      $109,286
Quarles & Brady LLP               1,228,355        82,687

                       About Asarco LLC

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

ASARCO LLC filed for Chapter 11 protection on August 9, 2005
(Bankr. S.D. Tex. Case No. 05-21207).  Attorneys at Baker Botts
L.L.P., and Jordan, Hyden, Womble & Culbreth, P.C., represented
the Debtor in its restructuring efforts.

On December 9, 2009, Grupo Mexico, S.A.B. consummated the Chapter
11 plan that it sponsored for Asarco LLC.  The Plan, which was
confirmed both by the bankruptcy and district courts, reintegrated
Asarco LLC back to parent Grupo Mexico concluding the four-year
Chapter 11 proceeding.

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


ASSOCIATED OF L.A.: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Associated of Los Angeles
        2585 East Olympic Blvd.
        Los Angeles, CA 90023

Bankruptcy Case No.: 10-22784

Chapter 11 Petition Date: April 2, 2010

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

Judge: Alan M. Ahart

Debtor's Counsel: David A. Tilem, Esq.
                  Law Offices of David A. Tilem
                  206 N Jackson St. Suite 201
                  Glendale, CA 91206
                  Tel: (818) 507-6000
                  Fax: (818) 507-6800
                  E-mail: davidtilem@tilemlaw.com

Estimated Assets: $0 to $50,000

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

A list of the Company's 20 largest unsecured creditors is
available for free at http://bankrupt.com/misc/cacb10-22784.pdf

The petition was signed by Robert Mirolla, president.


ATLANTIC FACILITIES: No Unsecured Creditors Committee Appointed
---------------------------------------------------------------
Marjorie K. Lynch, the Bankruptcy Administrator for the Eastern
District of North Carolina notified the U.S. Bankruptcy Court that
she was unable to appoint an official committee of unsecured
creditor in the Chapter 11 case of Atlantic Facilities, L.L.C.

Ms. Lynch said that there were insufficient indications of
willingness from the unsecured creditors to serve on the
committee.

Wilmington, North Carolina-based Atlantic Facilities, L.L.C. --
dba Audubon Properties LLC; East Metro Properties, LLC; South
Metro Properties LLC; Myrtle Properties, L.L.C.; and North Metro
Properties LLC -- filed for Chapter 11 bankruptcy protection on
February 22, 2010 (Bankr. E.D. N.C. Case No. 10-01347).  Trawick
H. Stubbs, Jr., Esq., at Stubbs & Perdue, P.A., assists the
Company in its restructuring effort.  The Company has assets of
$14,481,403, and total debts of $15,767,067.


ATLANTIC FACILITIES: Taps Stubbs & Perdue as Bankruptcy Counsel
---------------------------------------------------------------
Atlantic Facilities, L.L.C., asks the U.S. Bankruptcy Court for
the Eastern District of North Carolina for permission to employ
Trawick H. Stubbs, Jr., and Stubbs & Perdue, P.A., as counsel.

Stubbs & Perdue will represent and assist the Debtor in carrying
out its duties in the Chapter 11 case.

Mr. Stubbs tells the Court that prepetition, the firm received an
initial retainer of $25,000 from Russell M. Maynard in behalf of
the Debtor.  The firm received an additional retainer of $50,109
to secure future fees and expenses.  The remaining balance, as of
February 22, 2010, was $35,835.

To the best of the Debtor's knowledge, Stubbs & Perdue is a
"disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code.

Mr. Stubbs can be reached be reached at:

     Stubbs & Perdue, P.A.
     310 Craven Street
     P.O. Box 1654
     New Bern, NC 28563-1654

Wilmington, North Carolina-based Atlantic Facilities, L.L.C. --
dba Audubon Properties LLC; East Metro Properties, LLC; South
Metro Properties LLC; Myrtle Properties, L.L.C.; and North Metro
Properties LLC -- filed for Chapter 11 bankruptcy protection on
February 22, 2010 (Bankr. E.D. N.C. Case No. 10-01347).  Trawick
H. Stubbs, Jr., Esq., at Stubbs & Perdue, P.A., assists the
Company in its restructuring effort.  The Company has assets of
$14,481,403, and total debts of $15,767,067.


ATLANTIC UNDERGROUND: Voluntary Chapter 11 Case Summary
-------------------------------------------------------
Debtor: Atlantic Underground Utilities, Inc.
        1363 Dean Forest Road
        Savannah, GA 31405

Bankruptcy Case No.: 10-40751

Chapter 11 Petition Date: April 5, 2010

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

Debtor's Counsel: J. Michael Hall, Esq.
                  Hall & Kirkland, PC
                  Post Office Box 647
                  Statesboro, GA 30459
                  Tel: (912) 489-2831
                  Fax: (912) 489-2887
                  E-mail: mhall@hallandkirkland.com

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

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

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

The petition was signed by James C. Barfield, president.


B&B INDUSTRIES: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: B&B Industries & Construction, Inc.
        fdba Boyd Brothers Construction Company, Inc.
        fdba Boyd Bros. Properties, Inc.
        611 Fussell Road
        Leesburg, GA 31763
        P.O. Box 71488
        Albany, GA 31708

Bankruptcy Case No.: 10-10585

Chapter 11 Petition Date: April 5, 2010

Court: United States Bankruptcy Court
       Middle District of Georgia (Albany)

Debtor's Counsel: Walter W. Kelley, Esq.
                  Kelley, Lovett, and Blakey
                  P.O. Box 70879
                  2539 Lafayette Plaza
                  Albany, GA 31708
                  Tel: (229) 888-9128
                  E-mail: rcoxwell@kelleylovett.com

Estimated Assets: $166,469

Estimated Debts: $3,304,899

A list of the Company's 20 largest unsecured creditors is
available for free at http://bankrupt.com/misc/gamb10-10585.pdf

The petition was signed by Daniel H. Boyd, president.


BANCO INTERNACIONAL: Moody's Puts 'Ba3' Rating on $150 Mil. Notes
-----------------------------------------------------------------
Moody's Investors Service has assigned a Ba3 foreign currency
subordinated debt rating to Banco Internacional del Peru S.A.'s
planned US$150 million non-cumulative fixed/floating rate step-up
junior subordinated notes due 2070.  This debt will be transferred
to Interbank Panama branch once local regulators approve its
license to operate.

The outlook on the rating is stable.

Moody's said that the Ba3 subordinated debt rating for Interbank's
Tier 1 notes is two notches below the bank's baseline credit
assessment of Ba1 and reflects the structure of the securities.
The bank's stand alone BCA of Ba1 is directly mapped from the D+
bank financial strength rating, in line with Moody's Guidelines
for Rating Bank Hybrid Securities and Subordinated Debt.

Key features of the notes driving the rating outcome are a) its 60
year maturity; b), the non-cumulative coupon skip mechanism, and
c) deep subordination in liquidation.  Coupon skip features
include optional and mandatory cancellation of interest, both
based on regulatory capital triggers.  In the event of Interbank's
bankruptcy, liquidation, or dissolution under Peruvian law, the
notes will rank junior to all senior and subordinated debt, pari
passu with the most junior subordinated debt, and senior to
holders of both preferred and common stock.

While the standard notching for such securities is three notches
below the Adjusted BCA, the two notch differential in Interbank's
case reflects the strong fundamentals of the bank, including a
high and growing level of common equity.  This capital strength
together with the bank's systemic importance in Peru's developing
market suggests a very low probability of a coupon skip at this
juncture.  Moody's noted however that the gap between the bank's
current capitalization of 11.5% is relatively close to the minimum
capital trigger for mandatory deferral, which will increase from
9.5% to 9.75% in July 2010.  This gap, however, is expected to
widen gradually by year end according to management through both
the new hybrid issue and the bank's earnings generation.

The rating agency highlighted at the same time that given the
relative newness of hybrid instruments in Peruvian market, it will
continue to monitor its development together with the evolving
approach of the Peruvian regulators toward this type of security.

As of December 31, 2009, Interbank was the fourth largest bank in
Peru, with $5.6 billion in assets and $490 million in equity.

Moody's last rating action for Interbank was on December 16, 2009,
when the long term foreign currency deposit rating was upgraded to
Baa3 from Ba2 and placed on stable outlook, following the same
action taken on Peru's sovereign ceiling for foreign currency
deposits.  At the same time, the short term foreign currency
deposit rating was upgraded to Prime-3 from Not Prime.

This rating was assigned to Interbank's junior subordinated notes
due 2070:

* Junior subordinated debt: Ba3, with stable outlook


BASHAS' INC: Last Minute Talks with Bondholders Delay Plan
----------------------------------------------------------
The Associated Press reports that an agreement with bondholders
owed more than $215 million is holding up the Chapter 11 exit of
Bashas' Inc.

According to the report, lawyers for Bashas', banks and
bondholders and unsecured creditors told U.S. Bankruptcy Judge
James M. Marlar that negotiations on the terms of repayment to the
lenders is the glitch holding up an agreement.

The Chapter 11 plan filed by Bashas' has the support of most of
the other creditors.  Creditors committee attorney Jim Cross,
Esq., blamed the delay on a last minute deal between Bashas' and
the banks and insurance companies holding bonds.

                        The Chapter 11 Plan

Bashas, with the support of the Official Committee of Unsecured
Creditors, has submitted a proposed reorganization 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.


BEAUTY VENTURES: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: Beauty Ventures, Inc.
        9641 Highway 5
        Douglasville, GA 30135

Bankruptcy Case No.: 10-70004

Chapter 11 Petition Date: April 5, 2010

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

Judge: C. Ray Mullins

Debtor's Counsel: Evan M. Altman, Esq.
                  Bldg. 2 - Northridge 400
                  8325 Dunwoody Place
                  Atlanta, GA 30350
                  Tel: (770) 394-6466
                  Fax: (678) 405-1903
                  E-mail: evan.altman@laslawgroup.com

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

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

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

The petition was signed by Nana Y. Boachie, president.


BELTWAY-GESSNER: Case Summary & 3 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Beltway-Gessner Retail, LP
        6660 Airline Drive
        Houston, TX 77076

Bankruptcy Case No.: 10-32830

Chapter 11 Petition Date: April 5, 2010

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

Judge: Karen K. Brown

Debtor's Counsel: Peter Johnson, Esq.
                  Law Offices of Peter Johnson, Suite 2820
                  Eleven Greenway Plaza
                  Houston, TX 77046
                  Tel: (713) 961-1200
                  Fax: (713) 961-0941
                  E-mail: pjlawecf@pjlaw.com

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

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

A list of the Company's 3 largest unsecured creditors is available
for free at http://bankrupt.com/misc/txsb10-32830.pdf

The petition was signed by Nestor Martinez, VP of Sole GP, Nesval,
Corp.


BHAVIJIT HOSPITALITY: Summary & 18 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Bhavijit Hospitality LLC, a Corporation
        1175 Powers Ferry Place, SE
        Marietta, GA 30067

Bankruptcy Case No.: 10-69961

Chapter 11 Petition Date: April 5, 2010

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

Judge: James Massey

Debtor's Counsel: Stanley W. Schoolcraft, III, Esq.
                  245 Country Club Drive
                  Suite 200-D
                  Stockbridge, GA 30281
                  Tel: (678) 289-9969
                  Fax: (678) 289-8240
                  E-mail: swschoolcraft@bellsouth.net

Estimated Assets: $1,115,843

Estimated Debts: $3,006,213

A list of the Company's 18 largest unsecured creditors is
available for free at http://bankrupt.com/misc/ganb10-69961.pdf

The petition was signed by Shailesh Amin, president.


BHUNASHAVARI LLLC: Case Summary & 3 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Bhunashavari, LLC
          dba Town Inn
        1717 E. Division St.
        Arlington, TX 76011

Bankruptcy Case No.: 10-32405

Chapter 11 Petition Date: April 5, 2010

Court: United States Bankruptcy Court
       Northern District of Texas (Dallas)

Judge: Stacey G. Jernigan

Debtor's Counsel: Arthur I. Ungerman, Esq.
                  One Glen Lakes Tower
                  8140 Walnut Hill Ln., No. 301
                  Dallas, TX 75231
                  Tel: (972) 239-9055
                  Fax: (972) 239-9886
                  E-mail: arthur@arthurungerman.com

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

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

A list of the Company's 3 largest unsecured creditors is available
for free at http://bankrupt.com/misc/txnb10-32405.pdf

The petition was signed by Rimesh Patel, President.


BRENTWOOD GROUP NO. 2: Voluntary Chapter 11 Case Summary
--------------------------------------------------------
Debtor: Brentwood Group No. 2, Ltd.
        10000 Emmett F Lowry Expressway
        Texas City, TX 77591

Case No.: 10-80208

Type of business: The Debtor is a single asset real estate.

Chapter 11 Petition Date: April 5, 2010

Court: U.S. Bankruptcy Court
       Southern District of Texas (Galveston)

Judge: Letitia Z. Paul

Debtor's Counsel: Leonard H Simon, Esq.
                  Pendergraft & Simon L.L.P.
                  2777 Allen Parkway, Suite 800
                  Houston, TX 77019
                  Tel: (713) 737-8207
                  Fax: (832) 202-2810
                  E-mail: lsimon@pendergraftsimon.com

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

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

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

The petition is signed by Mayer C. Makabeh, a general partner at
the Debtor.


BRENTWOOD GROUP NO. 3: Voluntary Chapter 11 Case Summary
--------------------------------------------------------
Debtor: Brentwood Group No. 3, Ltd.
        10000 Emmett F Lowry Expressway
        Texas City, TX 77591

Case No.: 10-80209

Type of business: The Debtor is a single asset real estate.

Chapter 11 Petition Date: April 5, 2010

Court: U.S. Bankruptcy Court
       Southern District of Texas (Galveston)

Judge: Letitia Z. Paul

Debtor's Counsel: Leonard H Simon, Esq.
                  Pendergraft & Simon L.L.P.
                  2777 Allen Parkway
                  Suite 800
                  Houston, TX 77019
                  Tel: (713) 737-8207
                  Fax: (832) 202-2810
                  E-mail: lsimon@pendergraftsimon.com

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

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

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

The petition is signed by Mayer C. Makaeh, sole manager general
partner of the Debtor.


BRIAND PROPERTIES: Case Summary & 3 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Briand Properties, LLC
        P.O. Box 20635
        San Jose, CA 95160-0635

Bankruptcy Case No.: 10-53503

Chapter 11 Petition Date: April 5, 2010

Court: U.S. Bankruptcy Court
       Northern District of California (San Jose)

Judge: Roger L. Efremsky

Debtor's Counsel: Stanley A. Zlotoff, Esq.
                  Law Offices of Stanley A. Zlotoff
                  300 S. 1st Street #215
                  San Jose, CA 95113
                  Tel: (408) 287-1313
                  E-mail: zlotofflaw@gmail.com

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

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

According to the schedules, the Company says that assets total
$820,000 while debts total $1,407,631.

A copy of the Company's list of 3 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/canb10-53503.pdf

The petition was signed by Michael Dorian, managing member.


BRIGHT STAR: Case Summary & 3 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Bright Star Early Learning Center at 42 North, LLC
        6120 Montlake Avenue
        McDonough, GA 30253

Bankruptcy Case No.: 10-69696

Chapter 11 Petition Date: April 2, 2010

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

Debtor's Counsel: Kenneth Mitchell, Esq.
                  Giddens, Davidson & Mitchell P.C.
                  Suite 300-B
                  5000 Snapfinger Woods Drive
                  Decatur, GA 30034
                  Tel: (770) 987-7007
                  Fax: (770) 987-7138
                  E-mail: kmitchell@gdmpclaw.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 3 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ganb10-69696.pdf

The petition was signed by Anthonie T. Hurt, managing member.

Debtor-affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Mundy Mill Academy LLC                 10-69690    4/02/10


BROWN JORDAN: Near Covenant Breach Won't Move Moody's 'B2' Rating
-----------------------------------------------------------------
Moody's Investors Service stated that Brown Jordan International,
Inc.'s B2 Corporate Family Rating and negative outlook are
unchanged despite increasing concern for a near term covenant
violation that could potentially arise from a difference in
interpretation of defined terms in the company's credit
agreements.  Please refer to Moody's Issuer Comment posted on
moodys.com for more information.

Brown Jordan's ratings are:

* Corporate Family Rating: B2;
* Probability of Default Rating: B3;
* Senior Secured Revolving Credit Facility: Ba3 (LGD2, 17%);
* Senior Secured Term Loan: B2 (LGD3, 35%);
* Senior Secured Second Lien Loan: Caa1 (LGD4, 65%)

The ratings outlook is negative

The last rating action on Brown Jordan occurred on September 24,
2009 when Moody's affirmed the company's B2 CFR and changed the
ratings outlook to negative from stable.

Brown Jordan is one of the premier designers, manufacturers and
marketers of outdoor retail and contract furnishings with brand
names that include Brown Jordan, Winston, Wabash, Charter and La-
Z-Boy, among others.  Estimated revenue for the year ending
December 31, 2009, was about $250 million.


BRUCE FELDER: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Bruce B. Felder
        5100 Three Village Dr.
        Lyndhurst, OH 44124

Bankruptcy Case No.: 10-12970

Chapter 11 Petition Date: April 4, 2010

Court: United States Bankruptcy Court
       Northern District of Ohio (Cleveland)

Judge: Randolph Baxter

Debtor's Counsel: Richard A. Baumgart, Esq.
                  Dettelbach, Sicherman & Baumgart
                  1100 AmTrust Bank Center
                  1801 East 9th Street
                  Cleveland, OH 44114-3169
                  Tel: (216) 696-6000
                  Fax: (216) 696-3338
                  E-mail: rbaumgart@dsb-law.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/ohnb10-12970.pdf

The petition was signed by Bruce B. Felder.


BWC BUILDERS: Case Summary & 16 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: BWC Builders, LLC
        2244 Lyle Road
        College Park, GA 30337

Bankruptcy Case No.: 10-70064

Chapter 11 Petition Date: April 5, 2010

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

Judge: Joyce Bihary

Debtor's Counsel: Martha A. Miller, Esq.
                  Martha A. Miller, P.C.
                  International Tower Suite 2415
                  229 Peachtree Street, NE
                  Atlanta, GA 30303
                  Tel: (404) 607-9008
                  Fax: (404) 607-9068
                  E-mail: mmiller@rbspg.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/ganb10-70064.pdf

The petition was signed by Joseph Babb, managing member.


CAL INVESTMENTS: U.S. Trustee Withdraws Motion to Convert Case
--------------------------------------------------------------
Sara L. Kistler, Acting United States Trustee for Region 17, has
withdrawn her motion to convert the Chapter 11 case of Cal
Investments, Inc., to one under Chapter 7.

As reported in the Troubled Company Reporter on March 29, 2010,
the U.S. Trustee had sought for the conversion after the Debtor
failed to provide relevant information it requested.

Soquel, California-based Cal Investments, Inc., filed for Chapter
11 bankruptcy protection on October 30, 2009 (Bankr. N.D. Calif.
Case No. 09-59405).  Scott J. Sagaria, Esq., and Patrick Calhoun,
Esq., at the Law Offices of Scott J. Sagaria assist the Company in
its restructuring efforts.  According to the Debtors' schedules of
assets and debts, the Company has assets of at least $13,957,842,
and total debts of $22,913,609.


CAL-ONTARIO, INC: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Cal-Ontario, Inc.
          DBA Southridge Golf Club
        9413 S. Butte Road
        Sutter, CA 95982

Bankruptcy Case No.: 10-28672

Chapter 11 Petition Date: April 5, 2010

Court: U.S. Bankruptcy Court
       Eastern District of California (Sacramento)

Judge: Ronald H. Sargis

Debtor's Counsel: Julia P. Gibbs, Esq.
                  1329 Howe Avenue #205
                  Sacramento, CA 95825-3363
                  Tel: 916-646-2800

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

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

According to the schedules, the Company says that assets total
$525,000 while debts total $3,493,375

A copy of the Company's list of 20 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/caeb10-28672.pdf

The petition was signed by Lucyna M. Kumar, president.


CALVARY IN SAVANNAH: Files for Bankruptcy to Replace Finances
-------------------------------------------------------------
Jan Kutch at Savannah Morning News reports that Calvary in
Savannah filed for Chapter 11 bankruptcy to replace its financing
of a planned west Chatham expansion.

According to Savannah Morning, at issue is a $7 million financial
package for about 200 acres of Red Gate Farm property along
Veterans Parkway.  Creditors wanted to foreclose the property.

Calvary in Savannah -- http://www.calvaryinsavannah.org/-- is a
religious institution.


CG JCF: Moody's Affirms Corporate Family Rating at 'B2'
-------------------------------------------------------
Moody's Investors Service has affirmed the B2 corporate family
rating of C.G. JCF Corp., the holding company for Crump Group, as
well as the B2 ratings on the company's senior secured credit
facilities.  The rating outlook has been changed to stable from
negative based on the group's improving profitability and lower
financial leverage.

Despite the headwinds of a weak US economy and a soft market for
commercial property & casualty insurance, Crump Group has expanded
its operating margin and continued to pay down debt over the past
year.  The group results reflect reasonably strong earnings in the
Life Insurance Services and Retirement Services Divisions,
tempered by continued weakness in the P&C Insurance Services
Division.  The P&C unit has taken various restructuring steps in
recent quarters to improve its performance.

"A critical factor shaping Crump Group's credit profile has been
the steady support from its private equity sponsor," said Bruce
Ballentine, Moody's lead analyst for Crump Group.  Since the time
of its leveraged financing in 2007, Crump Group has been subject
to a relatively stringent financial leverage covenant.  The credit
agreement includes a provision whereby the private equity sponsor,
J.C. Flowers & Co. LLC, may periodically contribute equity, to be
counted as EBITDA, up to the amount needed to "cure" Crump Group's
performance under the covenant.  JCF has contributed cure amounts
in 2008 and 2009 in accordance with this provision.  "We expect
that JCF will continue to make equity contributions as needed to
satisfy the financial leverage covenant," said Mr. Ballentine.

The equity contributions from JCF, along with cash from operations
and other sources, have helped Crump Group to reduce its term loan
outstanding from an initial amount of $515 million to $375 million
as of year-end 2009.  The combination of debt reduction and EBITDA
growth has led to more favorable financial leverage and coverage
metrics.  According to Moody's calculations (which often differ
from company or covenant calculations), Crump Group's adjusted
debt-to-EBITDA ratio has declined from 7.3x at year-end 2008
(excluding the effects of goodwill and asset impairments) to 5.4x
at year-end 2009 -- a level more consistent with the current
ratings.

Crump Group benefits from its solid presence in target markets and
its healthy diversification across the three divisions, said
Moody's.  It is the largest US wholesale insurance broker in terms
of combined life and P&C insurance premiums placed.  It is also
among the largest providers of outsourced record-keeping and
administration services for employer-sponsored retirement plans,
with expertise in serving small and mid-sized employers.

Crump Group's financing arrangement includes a $40 million senior
secured revolving credit maturing in August 2013 (rated B2) and
the $375 million senior secured term loan maturing in August 2014
(rated B2).  The facilities are secured by substantially all of
Crump Group's assets and guaranteed by all of its material
subsidiaries.

Moody's cited these factors that could lead to an upgrade of Crump
Group's ratings: (i) adjusted (EBITDA - capex) coverage of
interest exceeding 2.5x, (ii) adjusted free-cash-flow-to-debt
ratio exceeding 6%, and (iii) adjusted debt-to-EBITDA ratio below
4.5x.

Moody's cited these factors that could lead to a downgrade of the
company's ratings: (i) adjusted (EBITDA -capex) coverage of
interest below 1.5x, (ii) adjusted debt-to-EBITDA ratio above
6.5x, or (iii) a reduction in support provided by JCF.

Moody's last rating action on Crump Group took place on
December 8, 2008, when the CFR and senior secured credit facility
ratings were affirmed at B2 and the outlook was changed to
negative from stable.

Crump Group, based in Roseland, New Jersey, is a diversified
insurance brokerage and retirement services firm.  For 2009, the
company generated revenues of $395 million.  Stockholder's equity
was $197 million as of December 31, 2009.  The firm is ultimately
owned by JCF and Crump Group managers.


CHRYSLER LLC: Cryonic Life Seeks Allowance of $872-Mil. Claim
-------------------------------------------------------------
Cryonic Life Insurance Company holds $872,301,000 in U.S.
government guaranteed Chrysler Financial Corporation Notes issued
between October 1979 and December 1983 and due before December
1990.

Chrysler Corp. wholly owned Chrysler Financial until 2006.

By this motion, Cryonic Life asks the Court to allow its claim for
$872,301,000.

"We asked in the claim if the Chrysler Corp could make 'CREATED
GOLD COINS' and its own cost and expense as authorized by Congress
to pay its creditors and help mint created gold coins as
authorized by law for Congress," Cryonic Life's  Daniel R. Izzo
tells the Court.

Mr. Izzo contends that the Debtors and the U.S. Government as
guarantor has an obligation that the principal amount due on the
Notes is paid.  He adds that Cryonic Life has been holding on to
the Notes to enforce the U.S. Government Guarantee and to hold
them as deposits on national banking association notes.

                     About Chrysler Group LLC

Chrysler Group LLC, formed in 2009 from a global strategic
alliance with Fiat Group, produces Chrysler, Jeep(R), Dodge, Ram
Truck, Mopar(R) and Global Electric Motorcars (GEM) brand vehicles
and products.  Headquartered in Auburn Hills, Michigan, Chrysler
Group LLC's product lineup features some of the world's most
recognizable vehicles, including the Chrysler 300, Jeep Wrangler
and Ram Truck.  Fiat will contribute world-class technology,
platforms and powertrains for small- and medium-sized cars,
allowing Chrysler Group to offer an expanded product line
including environmentally friendly vehicles.

                        About Chrysler LLC

Chrysler LLC and 24 affiliates on April 30 sought Chapter 11
protection from creditors (Bankr. S.D.N.Y (Mega-case), Lead Case
No. 09-50002).  Chrysler hired Jones Day, as lead counsel; Togut
Segal & Segal LLP, as conflicts counsel; Capstone Advisory Group
LLC, and Greenhill & Co. LLC, for financial advisory services; and
Epiq Bankruptcy Solutions LLC, as its claims agent.  Chrysler has
changed its corporate name to Old CarCo following its sale to a
Fiat-owned company.  As of December 31, 2008, Chrysler had
$39,336,000,000 in assets and $55,233,000,000 in debts.  Chrysler
had $1.9 billion in cash at that time.

In connection with the bankruptcy filing, Chrysler reached an
agreement with Fiat SpA, the U.S. and Canadian governments and
other key constituents regarding a transaction under Section 363
of the Bankruptcy Code that would effect an alliance between
Chrysler and Italian automobile manufacturer Fiat.  Under the
terms approved by the Bankruptcy Court, the company formerly known
as Chrysler LLC on June 10, 2009, formally sold substantially all
of its assets, without certain debts and liabilities, to a new
company that will operate as Chrysler Group LLC.  Fiat has a 20
percent equity interest in Chrysler Group.

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


CHRYSLER LLC: Reaches Deal with N. Carolina on Dealership Issues
----------------------------------------------------------------
Plaintiffs Old Carco LLC, Old Carco Motors LLC and Chrysler Group
LLC, and Defendants Gene Conti, Transportation Secretary for the
North Carolina Department of Transportation, and Mike Robertson,
North Carolina Commissioner of Motor Vehicles jointly ask the
United States Bankruptcy Court for the Southern District of New
York to enter a consent judgment and settlement agreement to
resolve their issues in the adversary proceeding regarding the
enforcement of recent amendments to the State's dealership
franchise laws.

The Settlement Agreement enjoins the North Carolina Defendants
from enforcing any portion of the North Carolina Amendments
against New Chrysler at any time in the future.  If any rejected
dealer files a protest or seeks relief under the North Carolina
Amendments, the North Carolina Department of Transportation will
dismiss the protest with prejudice and provide the protesting
dealer with a copy of the Consent Judgment.

The Parties also agree that if any civil or criminal enforcement
action is brought alleging a violation of the North Carolina
Amendments, the Debtors and New Chrysler have preserved, and have
not relinquished their right, to assert or raise any defense,
issue or argument of any nature.  Moreover, the North Carolina
Department of Transportation will issue licenses to new Chrysler,
Dodge or Jeep dealer applicants, who qualify for those licenses
pursuant to North Carolina Law, without regard to the North
Carolina Amendments.

                         *     *     *

Judge P. Kevin Castel of the United States District Court for the
Southern District of New York withdrew the automatic reference to
the Bankruptcy Court as to the adversary proceeding, except for
the approval of any settlements, including the North Carolina
Settlement, and any future settlements.

To recall, Jesse White, Illinois Secretary of State and Terrence
O'Brien, Chairperson of the Illinois Vehicle Review Board asked
the Bankruptcy Court to enter an order staying litigation in the
adversary proceeding until the District Court rules on Illinois'
motion to withdraw the reference.

In its Withdrawal Motion, Illinois asserted that the Bankruptcy
Court should withdraw the reference of the adversary proceeding
because the mandatory withdrawal provisions of Section 157(d) of
the Judiciary and Judicial Procedures Code apply where a timely
motion is brought by a party and resolution of the proceeding
requires consideration of both Bankruptcy Code and other federal
laws regulating organizations or activities affecting interstate
commerce.

"The remaining parties to this proceeding are invited to consider
settlements along the lines of the North Carolina settlement and,
failing that, to submit a schedule for resolution of the remaining
issues in this proceeding," Judge Castel said in his four-page
memorandum and order.


c
Chrysler Group LLC Chief Executive Sergio Marchionne said they
expect the auto maker to break even this year.

"We intend to break even on an operating basis in 2010, with
operating profit increasing steadily to $5 billion by 2014," Mr.
Marchionne said at a forum in New York sponsored by the National
Automobile Dealers Association and research firm IHS Global
Insight.

Chrysler Group forecast in 2009 that it would finish the year with
a cash balance of $5 billion.  The auto maker ended the year
"slightly north of that mark," according to Mr. Marchionne.

Mr. Marchionne said that they have five years to reach their goals
and that they are moving fast to execute Chrysler Group's business
plan.

In November 2009, the chief executive presented a five-year
recovery plan on how it would align Chrysler Group and Fiat
S.p.A.'s organizations, develop a product portfolio and rebuild
the equity of its brands and its relationship with customers.

Chrysler Group has been operated by Fiat, an Italy-based auto
maker where Mr. Marchionne also serves as chief executive.  Fiat
acquired most of the assets of Chrysler LLC after it filed for
bankruptcy protection last year.

During his speech, Mr. Marchionne emphasized the importance of
Chrysler Group's dealers in its restructuring and announced that
the auto maker plans to invest over $500 million in its dealership
network over the next five years.

"Dealers are the ambassadors of our brands and are crucial to the
effort to re-establish links with our customers," he said.

Earlier, Chrysler Group offered to reinstate 86 of the 789 dealers
that were previously terminated as part of its restructuring.
They were among 418 that sought arbitration to appeal the auto
maker's decisions to revoke their franchise agreements.

Mr. Marchionne also announced that Chrysler Group is planning to
approximately double its global sales to a total of 2.8 million
units over the next five years.  He said 75% of the auto maker's
vehicle line-up will be all-new or renewed by the end of 2010.

"When this rebuilding period is complete, we will have paid back
every penny that Chrysler Group has borrowed from the American and
Canadian governments," Mr. Marchionne said.

A full-text copy of Mr. Marchionne's speech delivered at the March
30 Automotive Forum can be accessed at
http://ResearchArchives.com/t/s?5cf2

                     About Chrysler Group LLC

Chrysler Group LLC, formed in 2009 from a global strategic
alliance with Fiat Group, produces Chrysler, Jeep(R), Dodge, Ram
Truck, Mopar(R) and Global Electric Motorcars (GEM) brand vehicles
and products.  Headquartered in Auburn Hills, Michigan, Chrysler
Group LLC's product lineup features some of the world's most
recognizable vehicles, including the Chrysler 300, Jeep Wrangler
and Ram Truck.  Fiat will contribute world-class technology,
platforms and powertrains for small- and medium-sized cars,
allowing Chrysler Group to offer an expanded product line
including environmentally friendly vehicles.

                        About Chrysler LLC

Chrysler LLC and 24 affiliates on April 30 sought Chapter 11
protection from creditors (Bankr. S.D.N.Y (Mega-case), Lead Case
No. 09-50002).  Chrysler hired Jones Day, as lead counsel; Togut
Segal & Segal LLP, as conflicts counsel; Capstone Advisory Group
LLC, and Greenhill & Co. LLC, for financial advisory services; and
Epiq Bankruptcy Solutions LLC, as its claims agent.  Chrysler has
changed its corporate name to Old CarCo following its sale to a
Fiat-owned company.  As of December 31, 2008, Chrysler had
$39,336,000,000 in assets and $55,233,000,000 in debts.  Chrysler
had $1.9 billion in cash at that time.

In connection with the bankruptcy filing, Chrysler reached an
agreement with Fiat SpA, the U.S. and Canadian governments and
other key constituents regarding a transaction under Section 363
of the Bankruptcy Code that would effect an alliance between
Chrysler and Italian automobile manufacturer Fiat.  Under the
terms approved by the Bankruptcy Court, the company formerly known
as Chrysler LLC on June 10, 2009, formally sold substantially all
of its assets, without certain debts and liabilities, to a new
company that will operate as Chrysler Group LLC.  Fiat has a 20
percent equity interest in Chrysler Group.

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


CHRYSLER LLC: To Reinstate 50 of 789 Scrapped Dealers
-----------------------------------------------------
Chrysler Group LLC said it is offering to reinstate 50 of the 789
dealers that were previously terminated as part of its
restructuring.

The dealers are in areas that offer services to customers and will
not hurt the remaining stores in Chrysler Group's dealership
network, according to the auto maker's March 26 statement.

The auto maker earlier offered to restore 36 other dealers whose
agreements were also revoked.  Discussions to find "mutually
beneficial alternatives" to arbitration with other dealers are
under way, the statement said.

The 50 dealers being offered reinstatement have not yet been
notified.  They were among 418 that sought arbitration to appeal
Chrysler Group's decisions to terminate their franchise
agreements, according to a report by The Associated Press.

Congress passed a law late last year giving dealers of Chrysler
Group and another bankrupt auto maker, General Motors Corp., a
chance to challenge or reconsider decisions to revoke their
franchise agreements.  The law established an arbitration process
to determine whether dealerships ought to be reinstated.

The arbitrations must be completed before the end of June of this
year, according to a March 26 report by Bloomberg News.

Sheldon Sandler, managing director of New Jersey-based Bel Air
Partners, said the auto maker is reinstating the 50 dealers
because it knows that it will lose cases during arbitration
hearings.

"Maybe someone just woke up and realized that they were making a
huge mistake, particularly with those dealers where they didn't
have a competing car dealer," AP quoted Mr. Sandler as saying.

Mr. Sandler predicts more victories for dealers during arbitration
hearings, saying the process was flawed from the beginning.

The negotiations could be complicated for Chrysler Group, AP said.
Dealers that remained with the auto maker and were given the
franchise agreements of those that were shut down could sue if the
arbitrator decides to reverse Chrysler Group's decision.

Ed Tonkin, chairman of the National Automobile Dealers
Association, called the reinstatement of the dealers a move in the
right direction.

"NADA views this as a good faith effort and hopes that this
carries forward in Chrysler's continuing settlement and
arbitration discussions with the other terminated dealers," Mr.
Tonkin said in a statement.

                     About Chrysler Group LLC

Chrysler Group LLC, formed in 2009 from a global strategic
alliance with Fiat Group, produces Chrysler, Jeep(R), Dodge, Ram
Truck, Mopar(R) and Global Electric Motorcars (GEM) brand vehicles
and products.  Headquartered in Auburn Hills, Michigan, Chrysler
Group LLC's product lineup features some of the world's most
recognizable vehicles, including the Chrysler 300, Jeep Wrangler
and Ram Truck.  Fiat will contribute world-class technology,
platforms and powertrains for small- and medium-sized cars,
allowing Chrysler Group to offer an expanded product line
including environmentally friendly vehicles.

                        About Chrysler LLC

Chrysler LLC and 24 affiliates on April 30 sought Chapter 11
protection from creditors (Bankr. S.D.N.Y (Mega-case), Lead Case
No. 09-50002).  Chrysler hired Jones Day, as lead counsel; Togut
Segal & Segal LLP, as conflicts counsel; Capstone Advisory Group
LLC, and Greenhill & Co. LLC, for financial advisory services; and
Epiq Bankruptcy Solutions LLC, as its claims agent.  Chrysler has
changed its corporate name to Old CarCo following its sale to a
Fiat-owned company.  As of December 31, 2008, Chrysler had
$39,336,000,000 in assets and $55,233,000,000 in debts.  Chrysler
had $1.9 billion in cash at that time.

In connection with the bankruptcy filing, Chrysler reached an
agreement with Fiat SpA, the U.S. and Canadian governments and
other key constituents regarding a transaction under Section 363
of the Bankruptcy Code that would effect an alliance between
Chrysler and Italian automobile manufacturer Fiat.  Under the
terms approved by the Bankruptcy Court, the company formerly known
as Chrysler LLC on June 10, 2009, formally sold substantially all
of its assets, without certain debts and liabilities, to a new
company that will operate as Chrysler Group LLC.  Fiat has a 20
percent equity interest in Chrysler Group.

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


CHRYSLER LLC: March Sales Up 51% from February
----------------------------------------------
Fred Diaz, chief executive officer of Chrysler Group LLC's Ram
truck brand, said retail sales to individual buyers increased by
51% this month compared with February, The Associated Press
reported.

Retail sales are those made directly to consumers rather than
sales to rental companies, corporate or government fleets.

At an event to discuss marketing for the Ram truck brand, Mr. Diaz
said March sales have been helped by option packages and that
consumers are starting to believe the auto maker will be around
for the long term, AP reported.

Mr. Diaz did not reveal how much of March sales were to fleet
buyers who generally bring car companies lower profits than
consumers.  He said Chrysler group plans for 20% to 25% of its
sales to be to fleets for the full year, according to the report.

Although sales to individual buyers are up 51% this month compared
with February, overall sales including fleet declined 10% to 12%
from a year ago as the automaker reduces incentives, according to
a report by Bloomberg News.

Mr. Diaz admitted that Chrysler Group was buying the market in
March 2009.

"We had huge incentives, huge rebates, which were degrading the
brands and the corporation and creating bad practices which is
part of what drove us into bankruptcy," Bloomberg News quoted Mr.
Diaz as saying.  He added that sales at the auto maker may decline
in coming months from last year until the shift to advertising
motivates buyers.

Chrysler Group is set to release its report of sales for the full
month of March today.

Stephanie Brinley, an analyst at Michigan-based AutoPacific, said
Chrysler Group has been quiet for so long that it enabled
consumers to forget about the auto maker.

"It's been such a tough year.  It's going to take them longer to
get back because they fell harder and farther than anyone else,"
Bloomberg quoted Ms. Brinley as saying.

                     About Chrysler Group LLC

Chrysler Group LLC, formed in 2009 from a global strategic
alliance with Fiat Group, produces Chrysler, Jeep(R), Dodge, Ram
Truck, Mopar(R) and Global Electric Motorcars (GEM) brand vehicles
and products.  Headquartered in Auburn Hills, Michigan, Chrysler
Group LLC's product lineup features some of the world's most
recognizable vehicles, including the Chrysler 300, Jeep Wrangler
and Ram Truck.  Fiat will contribute world-class technology,
platforms and powertrains for small- and medium-sized cars,
allowing Chrysler Group to offer an expanded product line
including environmentally friendly vehicles.

                        About Chrysler LLC

Chrysler LLC and 24 affiliates on April 30 sought Chapter 11
protection from creditors (Bankr. S.D.N.Y (Mega-case), Lead Case
No. 09-50002).  Chrysler hired Jones Day, as lead counsel; Togut
Segal & Segal LLP, as conflicts counsel; Capstone Advisory Group
LLC, and Greenhill & Co. LLC, for financial advisory services; and
Epiq Bankruptcy Solutions LLC, as its claims agent.  Chrysler has
changed its corporate name to Old CarCo following its sale to a
Fiat-owned company.  As of December 31, 2008, Chrysler had
$39,336,000,000 in assets and $55,233,000,000 in debts.  Chrysler
had $1.9 billion in cash at that time.

In connection with the bankruptcy filing, Chrysler reached an
agreement with Fiat SpA, the U.S. and Canadian governments and
other key constituents regarding a transaction under Section 363
of the Bankruptcy Code that would effect an alliance between
Chrysler and Italian automobile manufacturer Fiat.  Under the
terms approved by the Bankruptcy Court, the company formerly known
as Chrysler LLC on June 10, 2009, formally sold substantially all
of its assets, without certain debts and liabilities, to a new
company that will operate as Chrysler Group LLC.  Fiat has a 20
percent equity interest in Chrysler Group.

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


CIRCUIT CITY: Mitsubishi Fights Bar on $5.5M Circuit Claims
-----------------------------------------------------------
Bankruptcy Law360 reports that Mitsubishi Digital Electronics
America Inc. is appealing a bankruptcy court's decision to allow
Circuit City Stores Inc. to temporarily withhold about $5 million
in administrative expenses during the defunct company's attempt to
recover preference payments.

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

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

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

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

In May 2009, Systemax Inc., a multi-channel retailer of computers,
electronics, and industrial products, acquired certain assets,
including the name Circuit City, from the Debtors through a Court-
approved auction.

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


CKE RESTAURANTS: S&P Puts 'BB-' Rating on CreditWatch Negative
--------------------------------------------------------------
Standard & Poor's Ratings Services said that its ratings,
including the 'BB-' corporate credit rating, on CKE Restaurants
Inc. remain on CreditWatch, where they were placed with negative
implications on Feb. 26, 2010.  This rating action was taken after
CKE announced it had entered into a definitive agreement with
affiliates of Thomas H. Lee Partners, L.P., to take the company
private at an $11.05 per share price.

"S&P's latest rating action comes after Carpinteria, Calif.-based
CKE announced that it received an alternative takeover proposal to
acquire all the outstanding shares of the company," said Standard
& Poor's credit analyst Charles Pinson-Rose.  At this point, CKE's
board of directors reasonably expects that the alternative
proposal will be superior to the original offer by THL.  However,
the alternative proposal will be subject to several conditions
including completion of due diligence and negotiations of a
mutually acceptable definitive agreement.  Therefore, CKE notes
there can be no assurance that the alternative proposal would
ultimately lead to a superior proposal.  At this time, the board
has not changed its recommendation about the pending merger with
affiliates of THL.

If either the original or alternative proposal to takeover CKE is
consummated, S&P believes the transaction could weaken CKE's
credit profile because it is likely the transaction will be funded
with additional debt.

S&P will resolve its CreditWatch listing once it is evident either
the original or alternative proposal will be approved by
shareholders; when S&P knows how the transaction will be funded;
and know what impact it could have on CKE's capital structure.


CONSECO INC: Sheldon Solow Drops Suit Over Sale of GM Building
--------------------------------------------------------------
Reuters reports that billionaire New York real estate developer
Sheldon Solow has dropped his lawsuit accusing insurer Conseco
Inc. of fraud over the $1.4 billion auction in 2003 of the General
Motors Building in midtown Manhattan.

Reuters recalls Mr. Solow had alleged in an August 2006 complaint
that he had submitted the best and highest bid to buy the 50-story
tower, but that Conseco rigged the auction by using his bid to set
a price for rival developer Harry Macklowe, who ultimately bought
the property.

Reuters says the voluntary dismissal was disclosed in a joint
filing by Solow and Conseco in Manhattan federal court. The case
was dismissed with prejudice, meaning it cannot be brought again.

According to Reuters, Solow spokesman Michael Gross declined to
comment immediately.  Reuters relates Reed Oslan, Esq., a partner
at Kirkland & Ellis LLP representing Conseco, said his client "is
pleased that it has now finally resolved all of the litigation
relating to the 2003 sale."

Reuters relates U.S. District Judge Barbara Jones had in December
rejected Mr. Solow's claims, but the developer appealed to the
U.S. Court of Appeals for the Circuit Court.  In her ruling,
according to Reuters, Judge Jones concluded that Mr. Solow could
not sue the reorganized Conseco for alleged wrongdoing of the
"old" Conseco because he had no claims alleging misconduct or
fraud taking place after the company emerged from bankruptcy.
Monday's dismissal ends that appeal, Reuters says.

Reuters recalls that Mr. Solow sued Conseco for at least
$35 million, alleging that his bidding tied up hundreds of
millions of dollars he could have used elsewhere.  Conseco sold
the building on August 28, 2003, just 11 days before it emerged
from bankruptcy protection.

Boston Properties led a joint venture that acquired the GM
building from Macklowe Properties for about $2.8 billion in June
2008.

The case is Solow v. Conseco Inc et al., U.S. District Court,
Southern District of New York, No. 06-05988.

                        About Conseco Inc.

Headquartered in Carmel, Indiana, Conseco, Inc. (NYSE: CNO) --
http://www.conseco.com/-- is the holding company for a group of
insurance companies operating throughout the United States that
develop, market and administer supplemental health insurance,
annuity, individual life insurance and other insurance products.
The Company became the successor to Conseco Inc. (Old Conseco), in
connection with the Company's bankruptcy reorganization which
became effective on September 20, 2003.  CNO focuses on serving
the senior and middle-income markets.  The Company sells
its products through three distribution channels: career agents,
professional independent producers and direct marketing.

The Company's balance sheet as of Dec. 31, 2009, showed
$30.3 billion in assets, $26.8 billion of debts, and $3.5 billion
of stockholders' equity.

                          *     *     *

Conseco, Inc. carries Moody's Investors Service's "Caa1" senior
secured debt with a positive outlook.


CORRIDOR PROJECTS, THE: Case Summary & 20 Largest Unsec. Creditors
------------------------------------------------------------------
Debtor: The Corridor Projects, L.P.
        6100 Center Drive Suite 1200
        Los Angeles, CA 90045

Bankruptcy Case No.: 10-22923

Chapter 11 Petition Date: April 5, 2010

Court: U.S. Bankruptcy Court
       Central District of California (Los Angeles)

Judge: Ernest M. Robles

Debtor's Counsel: Richard H. Gibson, Esq.
                  21800 Oxnard Street #310
                  Woodland Hills, CA 91367
                  Tel: (818) 716-7950
                  Fax: (818) 716-7995

Estimated Assets: $0 to $50,000

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

A copy of the Company's list of 20 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/cacb10-22923.pdf

The petition was signed by Sharon Sumpter, executive director.


CREDITWEST CORP: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: CreditWest Corporation
        5880 Commerce Blvd.
        Suite 105
        Rohnert Park, CA 94928

Bankruptcy Case No.: 10-11212

Chapter 11 Petition Date: April 4, 2010

Court: United States Bankruptcy Court
       Northern District of California (Santa Rosa)

Judge: Alan Jaroslovsky

Debtor's Counsel: Steven M. Olson, Esq.
                  Law Offices of Steven M. Olson
                  100 E St. #214
                  Santa Rosa, CA 95404
                  Tel: (707) 575-1800
                  E-mail: smo@smolsonlaw.com

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

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

The petition was signed by Larry J. Kelley, the company's
president.

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


CUMULUS MEDIA: Has Investment Partnership with Crestview
--------------------------------------------------------
Cumulus Media Inc., and Crestview Partners on Wednesday announced
the formation of a strategic investment partnership that will seek
to invest in premium radio broadcasting companies that present
attractive opportunities for significant long-term capital
appreciation.  The partnership's objective is to deliver
significant value and achieve attractive returns through Cumulus'
proven skills in radio station management and operations, as well
as its proprietary technology platform.

Under the terms of the partnership, Crestview will lead an
investor group that would invest up to $500 million in equity in
the partnership, to be called Cumulus Radio Investors, L.P.
Together with debt financing expected to be available through the
capital markets, CRI could target acquisitions totaling in excess
of $1 billion.  Cumulus would provide all management, financial,
operational and corporate services to the partnership and its
operations pursuant to a management services agreement.  Cumulus
will be compensated through management fees as well as incentive
compensation based on investment returns.  Cumulus successfully
formed a similar private partnership, Cumulus Media Partners LLC,
in 2006 with three other leading private equity funds to acquire
the radio broadcasting business of Susquehanna Pfaltzgraff Company
in a transaction valued at approximately $1.2 billion.

Cumulus Chairman, President and CEO, Lew Dickey, commented: "We
are pleased to announce the formation of Cumulus Radio Investors
in partnership with Crestview and other investors to uniquely
combine the synergies of one of the largest radio broadcast
companies with the backing of a strong financial sponsor whose
senior partners, Thomas Murphy, Jr. and Jeffrey Marcus, have
significant investing and operating experience in the radio
industry.  We will be deliberate and disciplined in our investment
approach, but we are prepared to move quickly to capitalize on the
strategic investment opportunities that we believe are available
today."

Jeffrey Marcus and Thomas Murphy, Jr., both partners of Crestview,
said: "Crestview is excited to partner with Lew Dickey and the
rest of the Cumulus Media management team to pursue investments in
the radio industry. The Cumulus Media team has demonstrated the
ability to grow radio businesses while achieving significant
operational efficiencies. We are confident that our investment and
operating experience in the radio industry combined with Cumulus
Media's management capabilities and strong technology platform
will lead to compelling investment opportunities."

UBS Investment Bank acted as advisor to Cumulus in the formation
of Cumulus Radio Investors, L.P.

                    About Crestview Partners

Founded in 2004, Crestview Partners -- http://www.crestview.com/
-- is a $4 billion private equity firm based in New York which
focuses on the media, healthcare and financial services
industries.  Crestview is led by a group of former partners and
leaders in the private equity and media business and senior
management of Goldman Sachs and Morgan Stanley.

                        About Cumulus Media

Based in Atlanta, Georgia, Cumulus Media Inc. (NASDAQ: CMLS) --
http://www.cumulus.com/-- is the second largest radio broadcaster
in the United States based on station count, controlling 350 radio
stations in 68 U.S. media markets.  In combination with its
affiliate, Cumulus Media Partners, LLC, the Company believes it is
the fourth largest radio broadcast company in the United States
when based on net revenues.

As of December 31, 2009, Cumulus Media had $334,064,000 in total
assets against $706,576,000 in total liabilities, resulting in
$372,512,000 in stockholders' deficit.  The December 31, 2009
balance sheet also showed strained liquidity: Cumulus Media had
$64,714,000 in total current assets against $68,195,000 in total
current liabilities.

                           *     *     *

According to the Troubled Company Reporter on December 8, 2009,
Standard & Poor's Ratings Services lowered its corporate credit
rating on radio broadcaster Cumulus Media Inc. to 'B-' from 'B'.
The rating outlook is stable.


CYPRESS NILKANTH: Case Summary & Four Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Cypress Nilkanth Partners, LP
          aka Galleria at Red Oaks
        12703 North FM 620
        Austin, TX 78750

Case No.: 10-10917

Chapter 11 Petition Date: April 5, 2010

Court: U.S. Bankruptcy Court
       Western District of Texas (Austin)

Judge: Craig A. Gargotta

Debtor's Counsel: B. Weldon Ponder, Jr., Esq.
                  Building 3, Suite 200
                  4601 Spicewood Springs Road
                  Austin, TX 78759-7841
                  Tel: (512) 342-8222
                  Fax: (512) 342-8444
                  E-mail: welpon@austin.rr.com

Total Assets: $1,000,000 to $10,000,000

Total Debts: $1,000,000 to $10,000,000

A list of the Debtor's four largest unsecured creditors is
available for free at:

            http://bankrupt.com/misc/txwb10-10917.pdf

The petition is signed by Bhaskar N. Patel, managing member of GP,
Nilkanth Holdings.


DANIEL TARVER: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Daniel Tarver
        3210 Coldwater Canyon Lane
        Studio City, CA 91604

Bankruptcy Case No.: 10-13919

Chapter 11 Petition Date: April 5, 2010

Court: U.S. Bankruptcy Court
       Central District of California (San Fernando Valley)

Judge: Geraldine Mund

Debtor's Counsel: M. Jonathan Hayes, Esq.
                  Law Office of M. Jonathan Hayes
                  9700 Reseda Boulevard, Suite 201
                  Northridge, CA 91324
                  Tel: (818) 882-5600
                  Fax: (818) 882-5610
                  E-mail: jhayes@polarisnet.net

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

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

A copy of the Debtor's list of 20 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/cacb10-13919.pdf

The petition was signed by the Debtor.


DEATH ROW: Buyer Sued for Civil Contempt by Partners
----------------------------------------------------
Lara Lavi, whose company WIDEawake Entertainment Group Inc.,
acquired Death Row Records' catalogue of hip-hop hits from
bankruptcy in 2009, has sued partners Robert Thompson-So and
Ronald Ovendon, both of lender New Solutions Capital Group, to bar
them from making business decisions on Death Row's behalf, which
she said has put the label's future in jeopardy.  The civil
lawsuit was filed in a New York state supreme court late last
year.

According to Jacqueline Palank of Dow Jones' Daily Bankruptcy
Review, Messrs. Thompson-So and Ovendon allege in a new court
filing that Ms. Lavi "continuously lied" to the New York state
court that she was the label's majority owner to wrest control of
the label away from her partners in the $18 million deal.  Ms.
Palank relates that Messrs. Thompson-So and Ovendon accuse Ms.
Lavi of disregarding the numerous pieces of evidence they've
presented her with demonstrating that she's actually a minority
owner of the label and therefore doesn't control it.  Despite this
"overwhelming" evidence, the defendants say Ms. Lavi has moved
forward with the lawsuit solely to "harass and maliciously injure"
them and to obtain control of the label "at any cost."

Messrs. Thompson-So and Ovendon are urging the judge to declare
Ms. Lavi in civil contempt of court and to impose sanctions,
forcing her to cover at least the defendants' legal fees.

Headquartered in Compton, California, Death Row Records Inc.
-- http://www.deathrowrecords.net/-- is an independent record
producer.  The company and its owner, Marion Knight, Jr., filed
for chapter 11 protection on April 4, 2006 (Bankr. C.D. Calif.
Case No. 06-11205 and 06-11187).  Daniel J. McCarthy, Esq., at
Hill, Farrer & Burrill, LLP, and Robert S. Altagen, Esq.,
represent the Debtors in their restructuring efforts.  R. Todd
Neilson serves as chapter 11 Trustee for the Debtors' estate.  The
U.S. Trustee for Region 17 appointed creditors to serve on an
Official Committee of Unsecured Creditors.  The Committee selected
Pachulski Stang Ziehl & Jones as its counsel.  When the Debtors
filed for protection from their creditors, they listed total
assets of $1,500,000 and total debts of $119,794,000.


DEFAIR FARMS: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: DeFair Farms, LLC
        167 Westside Road
        Statesboro, GA 30458
        P.O. Box 6
        Statesboro, GA 30458

Bankruptcy Case No.: 10-60332

Chapter 11 Petition Date: April 5, 2010

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

Debtor's Counsel: James L. Drake, Jr., Esq.
         P.O. Box 9945
         Savannah, GA 31412
         Tel: (912) 790-1533
         E-mail: jdrake7@bellsouth.net

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

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

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

The petition was signed by D. Lamar DeLoach, member-partner.


DIERK HAGEMANN: Case Summary & 17 Largest Unsecured Creditors
-------------------------------------------------------------
Joint Debtors: Dierk Hagemann
               Marilyn Hagemann
                 aka Marilyn Cope
               4516 Palos Verdes Dr. East
               Rancho Palos Verdes, CA 90275

Bankruptcy Case No.: 10-22646

Chapter 11 Petition Date: April 2, 2010

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

Judge: Richard M. Neiter

Debtor's Counsel: Gerald Wolfe, Esq.
                  Law Office of Gerald Wolfe
                  19600 Fairchild Road, Suite 295
                  Irvine, CA 92656
                  Tel: (949) 257-0961
                  Fax: (949) 608-8930
                  E-mail: gerald@gwesq.com

Scheduled Assets: $1,660,500

Scheduled Debts: $1,725,592

A list of the Company's 17 largest unsecured creditors is
available for free at http://bankrupt.com/misc/cacb10-22646.pdf

The petition was signed by Dierk Hagemann and Marilyn Hagemann.


DUC CONG: Case Summary & 3 Largest Unsecured Creditors
------------------------------------------------------
Debtor: Duc Cong Vuong, Debtor
        953 Bonita
        Bayou Vista, Tx 77563

Bankruptcy Case No.: 10-80206

Chapter 11 Petition Date: April 5, 2010

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

Judge: Letitia Z. Paul

Debtor's Counsel: Erin E Jones, Esq.
                  Jones Morris, LLP
                  2700 Post Oak Suite 1120
                  Houston, TX 77056
                  Tel: 713-589-5061
                  Fax: 713-589-5513
                  E-mail: erin@jonesmorris.com

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

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

A list of the Company's 3 largest unsecured creditors is available
for free at:

             http://bankrupt.com/misc/txsb10-80206.pdf

The petition was signed by Duc Cong Vuong, GP Managing Member,
A.I. 45, LLC.


DYCOM INDUSTRIES: Moody's Says Neg. Outlook on CFR May Stabilize
----------------------------------------------------------------
Moody's Investors Service said the negative outlook on Dycom
Industries Inc.'s Ba2 corporate family rating could stabilize if
year-over-year revenue declines show signs of reversing in FYE 7-
2011.

Moody's last rating action on Dycom took place March 19, 2009,
when the rating outlook was changed to negative from stable.

Dycom Industries, Inc., located in Palm Beach Gardens, Florida, is
a leading provider of specialty contracting services in North
America.  Dycom provides engineering, construction and maintenance
services that assist telecommunication and cable television
providers expand and monitor their network infrastructure in a
cost effective manner.  To a lesser extent, Dycom provides
underground locating services for telephone, cable, power, gas,
water, and sewer utilities.  Dycom generated contract revenues of
$1.0 billion for the twelve months ended January 24, 2010.


EARLL URG: Case Summary & 17 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: Earll Urg Commons-DE, LLC
        3659 E. Thousand Oaks Blvd.
        Thousand Oaks, CA 91362

Bankruptcy Case No.: 10-13866

Chapter 11 Petition Date: April 2, 2010

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

Judge: Geraldine Mund

Debtor's Counsel: M Jonathan Hayes, Esq.
                  Law Office of M Jonathan Hayes
                  9700 Reseda Bl, Suite 201
                  Northridge, CA 91324
                  Tel: (818) 882-5600
                  Fax: (818) 882-5610
                  E-mail: jhayes@polarisnet.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 17 largest unsecured creditors is
available for free at http://bankrupt.com/misc/cacb10-13866.pdf

The petition was signed by Mark Kaufman, managing member.

Debtor-affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Variel Commons-DE, LLC                 10-11108    1/31/10


EAST YORK: Case Summary & 2 Largest Unsecured Creditors
-------------------------------------------------------
Debtor: East York, LLC
         fdba State Road 37, LLC
          dba Glenbrook Mobile Park LLC
        4714 Parnell Avenue
        Fort Wayne, IN 46825

Bankruptcy Case No.: 10-11422

Chapter 11 Petition Date: April 2, 2010

Court: United States Bankruptcy Court
       Northern District of Indiana (Fort Wayne Division)

Judge: Robert E. Grant

Debtor's Counsel: Daniel J. Skekloff, Esq.
                  E-mail: djs@sak-law.com
                  Sarah Mustard Heil, Esq.
                  E-mail: sheil@sak-law.com
                  Scot T. Skekloff, Esq.
                  E-mail: sts@sak-law.com
                  Skekloff, Adelsperger & Kleven, LLP
                  927 South Harrison Street
                  Fort Wayne, IN 46802
                  Tel: (260) 407-7000
                  Fax: (260) 407-7137

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

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

A list of the Company's 2 largest unsecured creditors is available
for free at http://bankrupt.com/misc/innb10-11422.pdf

The petition was signed by Christine Kotsopoulos, managing member.

Debtor-affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Coliseum on Parnell, LLC               10-10405    2/15/10


EASTER PLANTATION: Voluntary Chapter 11 Case Summary
----------------------------------------------------
Debtor: Easter Plantation, LLC
        PO Box 2677
        Brandon, FL 33509

Bankruptcy Case No.: 10-07890

Chapter 11 Petition Date: April 5, 2010

Court: U.S. Bankruptcy Court
       Middle District of Florida (Tampa)

Judge: Caryl E. Delano

Debtor's Counsel: Buddy D. Ford, Esq.
                  115 N. MacDill Avenue
                  Tampa, FL 33609-1521
                  Tel: (813) 877-4669
                  Fax: (813) 877-5543
                  E-mail: Buddy@tampaesq.com

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

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

The Company did not file a list of creditors together with its
petition.

The petition was signed by Reed Fischbach, assistant manager.


EIGEN INC: DIP Financing, Cash Collateral Use Gets Interim Nod
--------------------------------------------------------------
Eigen, Inc., sought and obtained interim authorization from the
Hon. Peter J. Walsh of the U.S. Bankruptcy Court for the District
of Delaware to obtain secured postpetition financing from Kazi
Management VI, LLC, and to use cash collateral.

The DIP lenders have committed to provide up to $3,300,000 in the
form of a revolving credit line in respect of new money funding,
of which $2,000,000 of new money will be available on an interim
basis.

Christopher A. Ward, Esq., at Polsinelli Shughart PC, the attorney
for the Debtor, explains that the Debtor needs the money to fund
its Chapter 11 case, pay suppliers and other parties.  The Debtor
will use the money pursuant to a budget, a copy of which is
available for free at:

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

The DIP facility will mature on (i) April 23, 2010, if the Court
hasn't entered an order stabling procedures relating to the
conducting of an auction in connection with the asset sale;
(ii) June 4, 2010, if the Debtor hasn't entered into a written
agreement for the sale of substantially all of its assets on terms
and conditions which are acceptable to the Lender; (iii) June 11,
2010, if the Court hasn't entered an order approving the asset
sale; or (iv) June 30, 2010, if the asset sale hasn't closed.

The DIP facility will incur interest at a rate of 9%.  There are
no fees associated with the DIP Facility.

The Debtors' obligations under the DIP facility are secured by all
of the Debtor's assets.  The DIP indebtedness will have the
highest administrative priority and will have priority over all
other costs and expenses of administration of any kind, and will
at all times be senior to the rights of the Debtor, any successor
trustee or estate representative in the Debtor's case or any
successor cases.

The DIP lien is subject to a carve-out of up to $280,000, less a
reserve as the Lender may require for the carve-out for the
payment of professional fees, U.S. Trustee fees, and other similar
administrative costs.

The Debtor also seeks authority from the Court to use the cash
collateral.   Mr. Ward says that the Debtor will also use the Cash
Collateral to provide additional liquidity.

The Lender is granted valid, binding, enforceable and perfected
additional and replacement liens in all property of the Debtor's
estate, including the DIP facility collateral.

The Debtor will provide the Lender (i) a borrowing base
certificate, along with a log of each of the daily disbursements
and collections, by 5:00 p.m. (Eastern Time) on the 15th and 30th
day of each month; and (ii) a comparison of the items in the
Budget for the preceding period to the Debtor's actual performance
that includes a narrative summary of any material variances from
the Budet for the preceding two weeks, by 5:00 p.m. (Eastern
Time).

The Court has set a final hearing for May 7, 2010, at 9:30 a.m. on
the Debtor's request to obtain DIP financing and use cash
collateral.

More information on the DIP financing is available for free at:

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

                             About Eigen

Grass Valley, California-based Eigen, Inc., a.k.a. Eigen, LLC,
develops tools for healthcare professionals.  The Company filed
for Chapter 11 bankruptcy protection on March 30, 2010 (Bankr. D.
Del. Case No. 10-11061).  Christopher A. Ward, Esq., at Polsinelli
Shughart PC, assists the Company in its restructuring effort.  In
its petition, the Company estimated its assets and debts at
$10,000,001 to $50 million.


ELECTRICAL COMPONENTS: Gets Interim Nod to Obtain DIP Financing
---------------------------------------------------------------
Electrical Components International, Inc. and its units sought and
obtained interim authorization from the Hon. Kevin J. Carey of the
U.S. Bankruptcy Court for the District of Delaware to obtain
postpetition secured financing from a syndicate of lenders led by
UBS AG, Stamford Branch, as administrative and collateral agent.

The DIP lenders have committed to provide the Debtors delayed draw
term loan facility in aggregate principal amount of up to
$25 million.

Mark D. Collins, Esq., at Richards, Layton & Finger, P.A., and
Stephen A. Youngman, Esq., at Weil, Gotshal & Manges LLP, the
attorneys for the Debtors, explained that the Debtors need the
money to pay transaction costs related to the closing of the DIP
Loans, and thereafter financing their Chapter 11 case, pay
suppliers and other parties.  The Debtors will use the money
pursuant to a budget, a copy of which is available for free at:

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

The DIP facility will mature six months from the Commencement
Date.

At the Debtors' option, loans will bear interest based on the Base
Rate or, so long as no event of default has occurred and is
continuing, the London Interbank Offered Rate (LIBOR):

     (i) Interest calculated using the Base Rate option will be at
         the Base Rate plus the applicable Interest Margin per
         annum, calculated on the basis of the actual number of
         days elapsed in a year of 365 days and payable monthly in
         arrears.  The Base Rate is defined as the higher of the
         Federal Funds Rate, as published by the Federal Reserve
         Bank of New York, plus 1/2 of 1% and the prime commercial
         lending rate of UBS AG, as established from time to time
         at its Stamford Branch.  There is a Base Rate floor of
         3.0% per annum.

    (ii) Interest calculated at the LIBOR Rte option will be
         determined for periods to be selected by the Debtors of
         one, two or three months and will be at an annual rate
         equal to LIBOR for the corresponding deposits of U.S.
         dollars, plus the applicable Interest Margin.  LIBOR will
         be determined by the postpetition agent at the start of
         each interest period and will be fixed through the
         period.  Interest will be paid at the end of each
         Interest Period and will be calculated on the basis of
         the actual number of days elapsed in a year of 360 days.
         LIBOR will be adjusted for maximum statutory reserve
         requirements (if any).  There is a LIBOR floor of 2.0%
         per annum.

In the event of default, interest will accrue (i) on unpaid
principal or interest on a any loan, at a rate of 2.0% per annum
plus the rate otherwise applicable to the loan and (ii) in the
case of any other unpaid amount, at a rate of 2.0% per annum plus
the non-default interest rate then applicable to Base Rate loans
under the financing.  Default interest will be payable on demand.

The DIP lien is subject to a carveout for U.S. Trustee and Clerk
of Court fees; and up to $1,000,000 in fees payable to
professional employed in the Debtors' case and the committee in
pursuing actions challenging the DIP Lenders' lien.

The Debtors are required to pay a host of fees the Postpetition
Agent a commitment fee equal to 1.00% per annum on the average
daily unused amount of each DIP commitment of the postpetition
lender during the period from and including the date of the entry
of the interim order but excluding the date on which the DIP
commitment terminates.

The Debtor will pay the Postpetition Agent an exit fee equal to
1.50% of the original aggregate DIP commitments of all of the
postpetition lenders in respect of the DIP Loans, for the account
of the lenders, due and payable on the Maturity Date.  The Exit
Fee is equal to 1.50% of $25,000,000.

The Debtor will also pay the Postpetition Agent an arrangement
fee, an agency fee and an upfront fee payable in the amounts and
at times separately agreed upon between the Debtors and the
Postpetition Agent.

More information on the DIP financing is available for free at:

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

The Agent and the lenders will receive (i) a super-priority
administrative expense claim with priority over any and all
administrative expenses and any and all other claims of any kind,
and (ii) a first priority priming lien on and security interest in
all of the right, title and interest of the postpetition loan
parties in, to and under the pledged collateral.  Messrs. Collins
and Youngman said that the Debtors will also use the Cash
Collateral to provide additional liquidity.

In exchange for using cash collateral, the Debtors will grant
prepetition first lien secured parties in the prepetition first
lien collateral, replacement liens upon all the DIP collateral
subject and subordinate only to the DIP Liens, the Carve-Out and
the prepetition senior liens on all DIP Collateral.  As additional
adequate protection, the prepetition first lien secured parties
will be entitled to allowed administrative priority claims for any
diminution in value of the prepetition first lien collateral from
and after the Commencement Date.  The Debtors will, upon entry of
the interim order, on a calendar monthly basis promptly pay in
cash all accrued but unpaid reasonable costs and expenses of the
prepetition first lien agent.

The Debtors, in exchange for using cash collateral, will grant
prepetition second lien secured parties replacement liens, subject
and subordinate to the DIP liens, the first priority prepetition
liens, the first lien adequate protection liens, the Carve-Out and
the prepetition senior liens, on all DIP Collateral.  As
additional adequate protection to the prepetition second lien
secured parties, the second lien secured parties will be entitled
to allowed administrative expense priority claims.  The Debtors
will also promptly pay in cash all accrued but unpaid reasonable
costs and expenses of the prepetition second lien agent.

The Court has set a final hearing for April 27, 2010, at 4:00 p.m.
(EDT) on the Debtor's request to obtain DIP financing and use Cash
Collateral.

                   About Electrical Components

St. Louis, Missouri-based Electrical Components International,
Inc. -- aka Whitehouse Acquisition Co.; Electrical Components
International DE Holdings Co.; Wirekraft Employment Co.; Wire
Harness Contractors, Inc.; Wire Harness Automotive, Inc.; Wire
Harness Industries Inc.; and Wirekraft LLC -- designs,
manufactures and markets wire harnesses and provides assembly
services primarily for major white goods appliance manufacturers.

The Company filed for Chapter 11 bankruptcy protection on
March 30, 2010 (Bankr. D. Del. Case No. 10-11054).  Stephen
Youngman, Esq., at Weil, Gotshal & Manges LLP, assists the Company
in its restructuring effort.

Chun I. Jang, Esq., Paul N. Health, Esq., and Travis A. McRoberts,
Esq., at Richards, Layton & Finger, P.A., are the Company's co-
counsel.

Epiq Bankruptcy Solutions is the Company's claims agent.

In its petition, the Company estimated its assets and debts at
$100,000,001 to $500 million.

These affiliates of the Company filed separate Chapter 11
petitions:

     -- ECM Holding Company (Case No. 10-11055), with estimated
        assets and debts at $100 million to $500 million;

     -- FP-ECI Holdings Company (Case No. 10-11056); and

     -- Noma O.P., Inc. (Case No. 10-11057).


EMPIRE PETROLEUM: Losses Prompt Going Concern Doubt
---------------------------------------------------
Empire Petroleum Corporation filed on March 30, 2010, its annual
report on Form 10-K for the year ended December 31, 2009.

HoganTaylor LLP, in Tulsa, Okla., expressed substantial doubt
about the Company's ability to continue as a going concern.  The
independent auditors noted that the Company has been incurring
significant losses since inception.

The Company reported a net loss of $215,909 on $9,794 of revenue
for 2009, compared with a net loss of $436,656 on $21,154 of
revenue for 2008.

The Company's balance sheet as of December 31, 2009, showed
$2,137,695 in assets, $44,783 of debts, and $2,092,912 of
stockholders' equity.

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

                   http://researcharchives.com/t/s?5f34

Tulsa, Okla.-based Empire Petroleum Corporation engages in the
exploration and development of oil and gas interests in the United
States.  It holds working interests in oil and gas leases known as
the Gabbs Valley Prospect in Nye and Mineral Counties, Nevada, and
an option to purchase 2,630 net acres of oil and gas leases known
as the South Okie Prospect in Natrona County, Wyoming.


ENVIRONMENTAL POWER: Caturano & Company Raises Going Concern Doubt
------------------------------------------------------------------
Environmental Power Corporation filed on March 30, 2010, its
annual report on Form 10-K for the year ended December 31, 2009.

Caturano and Company, P.C., in Boston, expressed substantial doubt
about the Company's ability to continue as a going concern.  The
independent auditors noted of the Company's recurring losses from
operations, its need to raise substantial additional capital and
its current cash balance relative to obligations, contractual
commitments, and corporate overhead requirements.

The Company reported a net loss of $36.1 million on $4.7 million
of revenue for 2009, compared with a net loss of $16.0 million on
$2.9 million of revenue for 2008.

The Company's balance sheet as of December 31, 2009, showed
$42.7 million in assets, $52.1 million of debts, and $10.2 million
of preferred stock, for a stockholders' deficit of $19.5 million.

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

               http://researcharchives.com/t/s?5f09

Tarrytown, N.Y.-based Environmental Power Corporation is a
developer, owner and operator of renewable energy production
facilities.


ERNST & YOUNG: Oversight Board Launches Probe on Lehman Role
------------------------------------------------------------
Charles Gasparino at FOX Business says pressure on accounting firm
Ernst & Young continues to grow as an oversight board, created
under the Sarbanes-Oxley accounting reform act of 1992, launches
an investigation into the firm's role in Lehman Brothers'
bankruptcy.

FOX Business relates the Public Company Accounting Oversight
Board, which can investigate and discipline public accounting
firms, has launched an inquiry into Ernst & Young following the
Lehman bankruptcy examiner's report that accused the firm of
"professional malpractice" in its approval of a controversial
accounting technique used by Lehman as it slid into insolvency.
The technique known as Repo 105 helped mask the deteriorating
nature of Lehman's balance sheet.

FOX Business notes that the oversight's board inquiry is yet the
latest investigation to hit Ernst & Young over its role as
Lehman's auditor, which was highlighted in the report issued by
Lehman bankruptcy examiner Anton Valukas last month.  FOX Business
relates the Securities and Exchange Commission and U.K. regulators
are looking at Ernst & Young's activities.

FOX Business says Charles Perkins, a spokesman for Ernst & Young,
has vehemently denied that the firm has done anything wrong.  He
didn't return calls for comment. A spokeswoman for the oversight
board had no comment, FOX Business says.

                         Examiner's Report

As reported by the Troubled Company Reporter, Judge James Peck of
the U.S. Bankruptcy Court for the Southern District of New York
unsealed on March 11, 2010, the 2,200-page report summarizing the
results of the investigation conducted by Anton Valukas, the
Court-appointed Chapter 11 examiner in the bankruptcy cases of
Lehman Brothers.

In summary, the Examiner noted that after Bear Stearns' demise in
2007, Lehman was widely considered to be the next bank that might
fail, and investor and client confidence was eroding.  He said
Lehman pursued a number of strategies to avoid demise but to buy
itself more time, to maintain that critical confidence, Lehman
painted a misleading picture of its financial condition.

At the end of the second quarter of 2008, as Lehman was forced to
announce a quarterly loss of $2.8 billion -- resulting from a
combination of write-downs on assets, sales of assets at losses,
decreasing revenues, and losses on hedges -- it sought to cushion
the bad news by trumpeting that it had significantly reduced its
net leverage ratio to less than 12.5, that it had reduced the net
assets on its balance sheet by $60 billion, and that it had a
strong and robust liquidity pool.  The Examiner, however, found
that Lehman did not disclose that it had been using an accounting
device, known within Lehman as "Repo 105," to manage its balance
sheet -- by temporarily removing approximately $50 billion of
assets from the balance sheet at the end of the first and second
quarters of 2008.  With Repo 105 transactions, Lehman's reported
net leverage was 12.1 at the end of the second quarter of 2008;
but if Lehman had used ordinary repos, net leverage would have to
have been reported at 13.9.

The Examiner also found that Lehman did not disclose its use --
or the significant magnitude of its use -- of Repo 105 to the
U.S. Government, to the rating agencies, to its investors, or to
its own Board of Directors.  Lehman's auditors, Ernst & Young,
were aware of this but did not question the company's use and
nondisclosure of the Repo 105 accounting transactions, the
Examiner revealed.

As late as September 10, 2008, Lehman publicly announced that its
liquidity pool was approximately $40 billion; but a substantial
portion of that total was in fact encumbered or otherwise
illiquid, the Examiner related.  By September 12, two days after
it publicly reported a $41 billion liquidity pool, the pool
actually contained less than $2 billion of readily monetizable
assets, he added.

According to the report, "Lehman failed because it was unable to
retain the confidence of its lenders and counterparties and
because it did not have sufficient liquidity to meet its current
obligations."

The Examiner concluded that while certain of Lehman's risk
decisions can be described in retrospect as poor judgment, they
were within the business judgment rule and do not give rise to
colorable claims against the senior officers who oversaw and
certified misleading financial statements."

The Examiner, however, found colorable claims against Richard
Fuld, Jr., former chief executive officer of Lehman; Christopher
O'Meara, former chief financial officer, controller and executive
vice president; Erin Callan, former chief financial officer and
global controller; and Ian Lowitt, co-chief administrator, in
connection with their failure to disclose the use of the practice
and against Ernst & Young for its failure to meet professional
standards in connection with that lack of disclosure.  The
Examiner also found colorable claims against JPMorgan Chase and
CitiBank in connection with modifications of guaranty agreements
and demands for collateral in the final days of Lehman's
existence.  The demands for collateral by Lehman's Lenders had
direct impact on Lehman's liquidity pool; Lehman's available
liquidity is central to the question of why Lehman failed, he
said.

Mr. Valukas spent more than a year and $38 million to investigate
the events surrounding Lehman's downfall.

A 17-part copy of the Examiner Report is available for free at:

              http://bankrupt.com/misc/Volume1.pdf
              http://bankrupt.com/misc/Volume2.pdf
              http://bankrupt.com/misc/Volume3.pdf
              http://bankrupt.com/misc/Volume4.pdf
              http://bankrupt.com/misc/Volume5.pdf
              http://bankrupt.com/misc/Volume6.pdf
              http://bankrupt.com/misc/Volume7.pdf
              http://bankrupt.com/misc/Volume8.pdf
              http://bankrupt.com/misc/Volume9.pdf
              http://bankrupt.com/misc/Volume10.pdf
              http://bankrupt.com/misc/Volume11.pdf
              http://bankrupt.com/misc/Volume12.pdf
              http://bankrupt.com/misc/Volume13.pdf
              http://bankrupt.com/misc/Volume14.pdf
              http://bankrupt.com/misc/Volume15.pdf
              http://bankrupt.com/misc/Volume16.pdf
              http://bankrupt.com/misc/Volume17.pdf

                      About Lehman Brothers

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

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

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

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

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

               International Operations Collapse

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

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

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


ESCADA AG: EUSA Seeking Approval of Plan Outline on April 29
------------------------------------------------------------
Escada (USA) Inc., now known as EUSA Liquidation Inc., asks Judge
Stuart M. Bernstein of the U.S. Bankruptcy Court for the Southern
District of New York, to approve the Disclosure Statement
accompanying its Plan of Liquidation as containing "adequate
information" within the meaning of Section 1125 of the Bankruptcy
Code.

The Disclosure Statement, delivered by the Debtor and the
Official Committee of Unsecured Creditors as Plan proponents on
March 26, 2010, provides information that is "reasonably
practicable" to permit an "informed judgment" by creditors and
interest holders entitled to vote on the Plan, Gerald C. Bender,
Esq., at O'Melveny & Myers LLP, in New York, asserts.

The Court will hold a hearing on April 29, 2010, at 10:00 a.m.,
prevailing Eastern Time, to consider approval of the Disclosure
Statement.  Deadline for filing objections is April 26.

EUSA also seeks the Court's approval of uniform solicitation and
tabulation procedures in relation to the confirmation process of
its Chapter 11 Plan.

The Debtor seeks to mail the Solicitation Packages no less than
28 days prior to the deadline to file objections to the
confirmation of the Plan on June 1, 2010, to:

   -- all persons or entities that have filed Proofs of Claim on
      or before the Record Date, other than the Holders of the
      Note Guarantee Claims, as defined under the Plan;

   -- all persons or entities identified in the Debtor's
      schedules of assets and liabilities as holding liquidated,
      non-contingent and undisputed claims;

   -- all other known Holders of Claims against the Debtor as of
      the record date for determining the holders of stock,
      bonds, debentures, notes, and other securities entitled to
      receive the Solicitation Package;

   -- all parties-in-interest that have filed notices in
      accordance with Rule 2002 of the Federal Rules of
      Bankruptcy Procedure in the Debtor's case on or before the
      Voting Record Date;

   -- the United States Trustee; and

   -- all parties to executory contracts or unexpired leases
      with the Debtor, as reflected on the Debtor's books and
      records or the Schedules.

The Debtor proposes that June 1, 2010 be set as the deadline for
the Voting Classes to file their ballots on the Plan.

The Debtor urges the Court to establish April 29, 2010, as the
Record Date for purposes of determining which Creditors are
entitled to receive Solicitation Packages and, where applicable,
vote on the Plan.

The Debtor proposes that the hearing to confirm the Plan be
scheduled for June 7, 2010, at 10:00 a.m., prevailing Eastern
Time, or as may be continued by the Court without further notice
other than an announcement of the adjournment at the Confirmation
Hearing or any continued hearing.

Objections, if any, to the confirmation of the Plan must be filed
with the Court and served on these parties no later than 5:00
p.m., Eastern Time, on June 1, 2010:

  * O'Melveny & Myers, LLP, counsel to the Debtor
    Times Square Tower, 7 Times Square,
    New York, New York 10036,
    Attn.: Gerald C. Bender, Esq.
           gbender@omm.com

  * the Office Of The United States Trustee
    Southern District Of New York
    33 Whitehall Street, 21st Floor,
    New York, New York 10004
    Attn.: Elisabetta G. Gasparini, Esq.
           Elisabetta.G.Gasparini@usdoj.gov

  * Otterbourg, Steindler, Houston & Rosen, P.C.
    counsel to the Official Committee of Unsecured Creditors
    230 Park Avenue
    New York, New York 10169
    Attn.: Melanie L. Cyganowski, Esq.
           mcyganowski@oshr.com

                  Chapter 11 Liquidation Plan

EUSA Liquidation, Inc., formerly known as Escada (USA) Inc., and
the Official Committee of Unsecured Creditors, as plan proponents,
submitted to the U.S. Bankruptcy Court for the Southern District
of New York a Joint Chapter 11 Plan of Liquidation and
accompanying Disclosure Statement dated March 26, 2010.

The overall purpose of the Plan is to provide for the wind down
and efficient liquidation of the Debtor in a manner designed to
maximize the recovery to all creditor, Christian D. Marques,
executive vice president, chief financial officer and treasurer
of Escada (USA) Inc., relates.

The Plan contemplates the establishment of a liquidating trust,
to be executed through a Liquidating Trust Agreement by the
Debtor and the Creditors' Committee.  The Liquidating Trust will
be established for the sole purpose of liquidating and
distributing the Trust Assets, in accordance with Section
301.7701-4(d) of the Treasury Regulation under the Internal
Revenue Service, with no objective to continue or engage in the
conduct of a trade or business.

Pursuant to Sections 1122 and 1123 of the Bankruptcy Code, proofs
of claim or interest asserted in the Debtor's case are classified
into these categories for the purpose of receiving distributions
pursuant to the Plan:

  Class       Description            Status      Voting Rights
  ------      -----------            ------      -------------
Unclassified  Administrative        Unimpaired   Deemed to
              Expense Claims and                 accept Plan
              Priority Tax
              Claims

1            Priority Non-Tax      Unimpaired   Deemed to
              Claims                             accept Plan

2            Miscellaneous         Unimpaired   Deemed to
              Secured Claims                     accept Plan

3            Unsecured Claims       Impaired    Entitled
                                                 to vote

4            Interests              Impaired    Deemed to
                                                 reject Plan

Estimated recoveries for Unclassified Claims and Claims under
Classes 1 and 2 are estimated at 100%.  Recovery for Class 3
Claims is unknown, while Class 4 Claims will have 0% recovery.

Each Holder of an Administrative Expense Claim -- other than a
Professional Fee Claim -- including any claim for substantial
contribution, is required to file a proof of Administrative
Expense Claim by (i) March 31, 2010, for Administrative Expense
Claims arising on or after the Petition Date through and
including January 14, 2010, and (ii) 30 days after the Plan
Effective Date for Administrative Expense Claims arising on or
after January 15, 2010.

The Court has fixed April 29, 2010, as the time and date for the
determination of persons who are entitled to receive a copy of
the Disclosure Statement and all of the related materials and to
vote whether to accept the Plan.

A full-text copy of the Liquidation Plan is available at no
charge at http://bankrupt.com/misc/Escada_LiquidationPlan.pdf

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

                        About Escada AG

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

As of August 10, 2009, the Escada Group operated 176 owned stores
and so-called shop in shops, of which 26 owned stores are located
in the United States and operated by Escada (USA) Inc. and 2
stores are planned to be opened in the United States before year
end.  Escada Group products are also sold in 163 stores worldwide
which are operated by franchisees.  Escada Group had total assets
of EUR322.2 million against total liabilities of EUR338.9 million
as of April 30, 2009.

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

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


ESCADA AG: U.S. Trustee Opposes EUSA's Plan Outline
---------------------------------------------------
Diana G. Adams, the United States Trustee for Region 2, contends
that the Debtor's Disclosure Statement should not be approved
"because it does not adequately provide a legal justification for
the release, discharge, and exculpation provisions that the
Proponents seek to have approved upon confirmation of the
[Chapter 11 Plan of Liquidation]."

Representing the U.S. Trustee, Trial Attorney Elisabetta G.
Gasparini, Esq., in New York, argues that the Disclosure
Statement is unclear on what Allowed Unsecured Claims will
recover under the Plan.  She notes that the Plan only provides
that "[e]ach Holder of an Allowed Unsecured Claim shall receive,
in full satisfaction, settlement, release, extinguishment and
discharge of such Claim, a Pro Rata Share of Available Cash by
the Liquidating Trustee pursuant to the Plan and Liquidating
Trust Agreement."  Neither the Plan nor the Disclosure Statement
is accompanied by a copy of the Liquidating Trust Agreement, she
points out.

Ms. Gasparini notes that both the Plan and the Disclosure
Statement classify statutory fees payable as administrative
expenses.  However, the Plan contains some inconsistent language
as to when those fees will be paid, she cites.

The Disclosure Statement and the Plan should be amended, Ms.
Gasparini contends, to clarify that postpetition interest on
taxes entitled to priority under Section 503 of the Bankruptcy
Code will be entitled to administrative expense status and should
thus be deemed payable.

The Disclosure Statement and the Plan, Ms. Gasparini continues,
provide for a discharge of the Debtor against all claims or
liabilities, which is inconsistent with Section 1141(d)(3) of the
Bankruptcy Code.  She notes that Section 1141(d)(3) does not
entitle the Debtor to a discharge if (i) that plan is a
liquidating plan, (ii) the Debtor will not be engaging in
business after the consummation of the plan, and (iii) the Debtor
would not be entitled to a discharge under Section 727(a) of the
Bankruptcy Code.

"There cannot be any disagreement that all three factors are
present here; accordingly, the Debtor cannot be granted the
discharge and parties cannot be enjoined from bringing causes of
action for their Claims or interests against the Debtor.  The
Disclosure Statement should thus be modified to provide an
explanation as to how the Debtor can receive a discharge in a
liquidating case," Ms. Gasparini tells Judge Bernstein.

The injunction and no-recourse provisions in the Disclosure
Statement also provide for an injunction and release of non-
debtor parties, including the Official Committee of Unsecured
Creditors, the Liquidating Trustee, and all of their directors,
officers, professionals and consultants, the U.S. Trustee notes.
However, the Plan Proponents "have not provided a legal basis for
the releases of the non-debtor third parties," Ms. Gasparini
argues, citing Deutsche Bank AG v. Metromedia Fiber Network, Inc.
(In re Metromedia Fiber Network, Inc.), 416 F. 3d 136, 141 (2d
Cir. 2005).

To the extent the Court allows for any release or injunction to
either the Debtor or non-debtor third parties, language carving
out Governmental Claims from the proposed releases should be
included, Ms. Gasparini says.

The Disclosure Statement and the Plan also contain conflicting
provisions as to the treatment of U.S. Trustee quarterly fees
Section 1930 of the Judiciary and Judicial Procedures Code, Ms.
Gasparini maintains.  Statutory fees are classified as
administrative claims under the Proponents' Plan and Disclosure
Statement.  While the Disclosure Statement provides that those
Fees will be paid on the Plan Effective Date, the Plan contains
some contradictory language that indicates that "any unpaid UST
fees will be paid within 30 days after the Effective Date," Ms.
Gasparini points out.

The Liquidating Trust Agreement contains salient terms, including
the distribution to be made to Allowed Unsecured Creditors, the
manner in which distributions will be made, and the compensation
to be paid to Clingman & Hanger Management Associates, LLC, as
the Liquidating Trustee, the U.S. Trustee points out.  Thus, it
should be filed well in advance of the Disclosure Statement
hearing for the Court to take it into consideration and to give
parties-in-interest an opportunity to review it, Ms. Gasparini
says.  "However, neither the Plan nor the Disclosure Statement is
accompanied by a copy of the Liquidating Trust Agreement."

Moreover, she adds, the Debtor did not provide a liquidation
analysis "and it is not clear when it will be filed."

The U.S. Trustee should also receive notice of the Liquidating
Trust activities so as to ensure that she will be apprised of
actions and events taking place in the Debtor's case even after
confirmation of the Plan, Ms. Gasparini maintains.

In addition, the Disclosure Statement and Plan provide that
Clingman would be responsible to make the distributions
contemplated under the Plan and Liquidating Trust Agreement.
Neither the Plan nor the Disclosure Statement, however, provides
that Clingman will be bonded, the U.S. Trustee cites.  The U.S.
Trustee takes the position that any party who will hold any cash
reserve or funds on behalf of the creditors of a Debtor's estate
"should obtain a bond for the full amount of any funds to be held
by such party for the distribution to creditors, and agree to
notify the Court and the U.S. Trustee before terminating any
[that] [B]ond," Ms. Gasparini explains.

Ms. Gasparini further avers that the Disclosure Statement should
specify through a "satisfactory explanation" as to how the Debtor
will dissolve and the basis for the automatic dissolution
provided for in the Plan.

                  Chapter 11 Liquidation Plan

EUSA Liquidation, Inc., formerly known as Escada (USA) Inc., and
the Official Committee of Unsecured Creditors, as plan proponents,
submitted to the U.S. Bankruptcy Court for the Southern District
of New York a Joint Chapter 11 Plan of Liquidation and
accompanying Disclosure Statement dated March 26, 2010.

The overall purpose of the Plan is to provide for the wind down
and efficient liquidation of the Debtor in a manner designed to
maximize the recovery to all creditor, Christian D. Marques,
executive vice president, chief financial officer and treasurer
of Escada (USA) Inc., relates.

The Plan contemplates the establishment of a liquidating trust,
to be executed through a Liquidating Trust Agreement by the
Debtor and the Creditors' Committee.  The Liquidating Trust will
be established for the sole purpose of liquidating and
distributing the Trust Assets, in accordance with Section
301.7701-4(d) of the Treasury Regulation under the Internal
Revenue Service, with no objective to continue or engage in the
conduct of a trade or business.

Pursuant to Sections 1122 and 1123 of the Bankruptcy Code, proofs
of claim or interest asserted in the Debtor's case are classified
into these categories for the purpose of receiving distributions
pursuant to the Plan:

  Class       Description            Status      Voting Rights
  ------      -----------            ------      -------------
Unclassified  Administrative        Unimpaired   Deemed to
              Expense Claims and                 accept Plan
              Priority Tax
              Claims

1            Priority Non-Tax      Unimpaired   Deemed to
              Claims                             accept Plan

2            Miscellaneous         Unimpaired   Deemed to
              Secured Claims                     accept Plan

3            Unsecured Claims       Impaired    Entitled
                                                 to vote

4            Interests              Impaired    Deemed to
                                                 reject Plan

Estimated recoveries for Unclassified Claims and Claims under
Classes 1 and 2 are estimated at 100%.  Recovery for Class 3
Claims is unknown, while Class 4 Claims will have 0% recovery.

Each Holder of an Administrative Expense Claim -- other than a
Professional Fee Claim -- including any claim for substantial
contribution, is required to file a proof of Administrative
Expense Claim by (i) March 31, 2010, for Administrative Expense
Claims arising on or after the Petition Date through and
including January 14, 2010, and (ii) 30 days after the Plan
Effective Date for Administrative Expense Claims arising on or
after January 15, 2010.

The Court has fixed April 29, 2010, as the time and date for the
determination of persons who are entitled to receive a copy of
the Disclosure Statement and all of the related materials and to
vote whether to accept the Plan.

A full-text copy of the Liquidation Plan is available at no
charge at http://bankrupt.com/misc/Escada_LiquidationPlan.pdf

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

                        About Escada AG

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

As of August 10, 2009, the Escada Group operated 176 owned stores
and so-called shop in shops, of which 26 owned stores are located
in the United States and operated by Escada (USA) Inc. and 2
stores are planned to be opened in the United States before year
end.  Escada Group products are also sold in 163 stores worldwide
which are operated by franchisees.  Escada Group had total assets
of EUR322.2 million against total liabilities of EUR338.9 million
as of April 30, 2009.

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

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


FARLEY INC: Owner to Pay $7.8 Million to Settle PBGC Claims
-----------------------------------------------------------
The New York Post reports that William Farley has agreed to pay
the Pension Benefit Guaranty Corp. $7.8 million to settle claims
he reneged on a 1992 commitment to support the pension funds of
collapsed companies he owned.  The Post says the settlement will
end the PBGC's five-year quest to seize $150 million from Mr.
Farley for allegedly enriching himself at the expense of funding
pensions at his bankrupt conglomerate, Farley Inc.

A lawyer for Farley declined to comment on the settlement.

The Post recalls that Mr. Farley, using junk bonds packaged by
Michael Milken, bought several companies that he combined to
create the holding company that bore his name.  Among those
purchases was the 1985 deal for underwear giant Fruit of the Loom,
which operated separately from Farley Inc.  By 1991, Farley Inc.,
struggling under a mountain of debt, filed for bankruptcy, and the
company's pension fund was suffering from a shortfall.

The Post relates that Mr. Farley at the time personally pledged
2 million of 9.9 million Fruit of the Loom shares he owned to the
PBGC, which guarantees corporate pension funds, to cover the
shortfall.  However, when Fruit of the Loom went bankrupt in 1999,
a year after Mr. Farley was ousted, those shares became worthless.

The Post further reports that according to the PBGC's claim, Mr.
Farley took money out of the companies he owned "for the benefit
of himself," while his firms were either "insolvent or at high
risk of insolvency."  The PBGC cited a $65 million loan that Mr.
Farley got in 1999 just months before Fruit of the Loom filed for
bankruptcy.  The agency claimed Mr. Farley paid back the Fruit of
the Loom loan using Farley Inc. funds that should have gone to
those underfunded pensions.  In addition, the PBGC charged that
Mr. Farley and members of Farley Inc.'s administrative committee
met in 2000 and allegedly decided "to escape its obligations under
the PBGC Agreement" and "never make another contribution to the
Pension Plan."


FRASER PAPERS: Canada Court Gives Final Nod to Sale to Twin Rivers
------------------------------------------------------------------
Fraser Papers Inc. obtained final approval on April 6 from the
Ontario Superior Court of Justice to complete the sale of its
specialty papers business to Twin Rivers Paper Company Inc.  At a
hearing this afternoon in the United States Bankruptcy Court for
the District of Delaware, the court approved recognition of the
Canadian Court Order and the sale of the U.S. assets.

Under the terms of the Transaction, the creditors of Fraser Papers
will receive promissory notes and a 49% common equity interest in
the purchaser, Twin Rivers.  Brookfield Asset Management Inc., a
secured creditor, has agreed to convert its secured claim against
the Company into a 51% common equity interest in Twin Rivers and
the Government of New Brunswick has agreed to convert its
$35 million secured loan and accrued interest into preferred
shares of Twin Rivers.

The Company and Twin Rivers expect to close the Transaction within
the next few weeks.

The Company also disclosed that the Court has granted a further
extension of the initial Order under which Fraser Papers was
granted creditor protection under the Companies' Creditors
Arrangement Act.  This extension is through July 9, 2010 and was
supported by PricewaterhouseCoopers Inc., the Court appointed
Monitor of the Company's CCAA process.

                       About Fraser Papers

Fraser Papers -- http://www.fraserpapers.com/-- is an integrated
specialty paper company that produces a broad range of specialty
packaging and printing papers.  The Company has operations in New
Brunswick, Maine, New Hampshire and Quebec.

On June 18, 2009, citing continued operating losses, weak markets
for pulp and lumber, impending debt repayments and significant
pension funding obligations, the Company and its subsidiaries
filed for protection under the Companies Creditors Arrangement Act
(Ont. Super. Ct. J. Ct. File No. CV-09-8241-00CL) in Toronto and
Chapter 15 (Bankr. D. Del. Case No. 09-12123) of the U.S.
Bankruptcy Code.  Fraser is represented by Michael Barrack, Esq.,
Robert I. Thornton, Esq., and D.J. Miller, Esq., at
ThorntonGroutFinnigan LLP, in Toronto, and Derek C. Abbott, Esq.,
at Morris, Nichols, Arsht & Tunnell LLP, in Wilmington, Del.  With
adequate financing to support continuing operations, Fraser says
it is developing a restructuring plan to present to its creditors
-- hopefully by Oct. 16, 2009 -- with the objective of emerging
with a sustainable and profitable specialty papers business.


FREESCALE SEMICONDUCTOR: Moody's Assigns 'B2' Rating on Notes
-------------------------------------------------------------
Moody's Investors Service assigned a B2 rating to Freescale
Semiconductor, Inc.'s proposed $750 million senior secured notes
due 2018.  The rating outlook is stable.  Net proceeds are
expected to be used to retire the remaining $472 million
outstanding under the senior secured term loan B facility due
2013, and repay a portion of the $917 million senior secured
incremental term loan due 2014.  The assigned ratings are subject
to review of final documentation and no material change in the
terms and conditions of the transactions as advised to Moody's.
Moody's expect to withdraw the ratings on the senior secured term
loan B facility upon their full retirement.

Moody's views constructively this latest refinancing and extension
of Freescale's approximate $7.8 billion of LBO debt.  In February,
Freescale amended its credit agreement to extend the maturity date
to 2016 on $2.265 billion of term loan B facility debt.
Concurrently, the company issued $750 million 10.125% senior
secured notes due 2018.  Approximately $112 million was used to
pay down a portion of the revolver to $532 million outstanding and
$634 million was used to pay down the non-extended portion of the
term loan B facility to $472 million.  The current transaction,
which eliminates the remaining 2013 maturity, will somewhat
alleviate the concentration of debt maturing in 2014, given
Freescale's inability to de-lever from internal sources.
Following this refinancing, Freescale will have roughly
$2.8 billion of debt due in 2014.  The maturity extension also
buys the company additional time to transform new product
categories into meaningful contributors of profitable growth.

Freescale's Caa1 CFR continues to be constrained by the company's
substantial leverage and thin interest coverage, as well as
Moody's expectation of very modest free cash flow generation
relative to its large debt load.  The CFR also reflects a
significantly reduced earnings contribution from the company's
cellular segment, offset by modest earnings from Freescale's
recent entr‚e into higher growth sub-segments within consumer and
industrial markets.  Since Freescale is exposed to the inherently
cyclical and volatile semiconductor industry, Moody's are
concerned that Freescale's highly leveraged capital structure may
prove unsustainable if cash flows were to deteriorate for an
extended period.

The rating is supported by Freescale's strong market leadership
positions and rich product portfolio characterized by
technological breadth; its somewhat favorable revenue
diversification across products, geographies and customers; its
refocused R&D program to drive future revenue growth in extended
market segments; and its "asset-light" model that allows it to
reduce expenses and capex in response to weak market conditions.

The stable rating outlook reflects Moody's expectation that after
a severe downturn in profits and cash flow caused by the
recession, the company's operating performance will continue to
improve as a result of the recovery in the global demand
environment and Freescale's progress in eliminating $700 million
of annualized costs (full $800 million cost savings expected
during 2010).  The stable outlook incorporates Moody's belief that
semiconductor end market demand will demonstrate growth in 2010
and Freescale's revenue growth will be in line with its
addressable markets.

Freescale's liquidity is adequate as reflected in its SGL-3
speculative grade liquidity rating.  The liquidity assessment is
principally driven by the company's $1.4 billion of cash balances
given that over the next four quarters, Moody's expect Freescale
to generate very modest FCF relative to its large debt load.
Despite no financial covenants, financial flexibility remains
diminished, in Moody's opinion, since the company has drawn
$532 million under its revolver, which has a committed capacity of
$578 million.

This new rating and assessment was assigned:

  -- $750 Million Senior Secured Notes due 2018 - B2 (LGD-3, 30%)

This rating will be withdrawn upon retirement:

  -- $472 Million (originally $3.5 Billion) Senior Secured Term
     Loan B Facility due 2013 - B2 (LGD-3, 30%)

The last rating action was on February 4, 2010, when Moody's
affirmed Freescale's Caa1 CFR and assigned a B2 rating to the
company's $2.265 billion senior secured extended term loan due
2016 and $750 million 10.125% senior secured notes due 2018.

Headquartered in Austin, TX, Freescale Semiconductor, Inc.,
designs and manufactures embedded semiconductors for the
transportation, networking and wireless markets.  The company was
separated from Motorola via IPO in July 2004 and taken private in
a leveraged buyout in December 2006.  Revenues for the twelve
months ended December 31, 2009, were $3.5 billion.


FREESCALE SEMICONDUCTOR: S&P Puts 'B-' Rating on $750 Mil. Notes
----------------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its 'B-'
rating to Freescale Semiconductor Inc.'s $750 million new senior
secured notes due 2018.  The recovery rating is '4', indicating
the expectation for average (30%-50%) recovery in the event of a
payment default.  The 'B-' corporate credit rating and stable
outlook on the company remain unchanged.

                           Rating List

                   Freescale Semiconductor Inc.

         Corporate credit rating             B-/Stable/--

                            New Rating

              $750 million sr sec notes due 2018  B-
              Recovery rating                     4


G.E. HOSPITALITY: Case Summary & 9 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: G.E. Hospitality, LLC
          dba Hawthorn Suites of Valdosta
        4025 Northlake Drive
        Valdosta, GA 31602

Bankruptcy Case No.: 10-70529

Chapter 11 Petition Date: April 5, 2010

Court: United States Bankruptcy Court
       Middle District of Georgia (Valdosta)

Debtor's Counsel: Thomas D. Lovett, Esq.
                  Kelley, Lovett, & Blakey, P.C.
                  P.O. Box 1164
                  2912-B North Oak Street
                  Valdosta, GA 31603-1164
                  Tel: (229) 242-8838
                  Fax: (229) 242-1151
                  E-mail: rbush@kelleylovett.com

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

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

According to the schedules, the Debtor said that it has $2,502,402
in assets against debts of $8,858,056.

A list of the Company's 9 largest unsecured creditors is available
for free at http://bankrupt.com/misc/gamb10-70529.pdf

The petition was signed by Gerald Evans, Sr., co-owner.


GEMS TV: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------
Debtor: Gems TV (USA) Limited
          aka Gems TV
        1190 Trademark Drive, Suite 107
        Reno, NV 89521

Bankruptcy Case No.: 10-11158

Chapter 11 Petition Date: April 5, 2010

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

Judge: Peter J. Walsh

About the Business: Reno, Nevada-based Gems TV (USA) is a
                    television retailer of gemstone jewelry
                    products.  Its parent is Gems TV Holdings
                    Ltd., which owns and operates jewelry home
                    shopping TV channels in the U.S., U.K. and
                    Japan.

Debtor's Counsel: Robert S. Brady, Esq.
                  Robert F. Poppiti, Jr., Esq.
                  Young, Conaway, Stargatt & Taylor
                  The Brandywine Bldg.
                  1000 West Street, 17th Floor, PO Box 391
                  Wilmington, DE 19899-0391
                  Tel: 302-571-6600
                  Fax: 302-571-1253
                  E-mail: bankfilings@ycst.com

Debtor's
Fin'l Advisor:    Focus Management Group

Debtor's Claims &
Notice Agent:     Epiq Bankruptcy Solutions Inc.

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

Estimated Debts: $100,000,000 to $500,000,000

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/deb10-11158.pdf

The petition was signed by Diane Schneiderjohn, president.

Debtor's List of 20 Largest Unsecured Creditors:

  Entity                        Nature of Claim     Claim Amount
  ------                        ---------------     ------------
Bh.H. Multi Com Corp.           Trade - Inventory   $200,820,224
15 West 46th Street
New York, New York 10036
Tel: (212) 944-0020
Fax: (212) 921-7796

DirecTV                         Broadcast Fees      $2,672,237
2230 East Imperial Hwy
El Segundo, California 90245
Tel: (310) 964-4706
Fax: (310) 954-4991

Creative Gems & Jewelry         Trade - Inventory   $2,029,991
  Public Co. Ltd.
20/11 Sol Anamai-Ngamcharoen 31
Rama UU Rd, Ta-Kham
Bangkhuntien
Bangkok 10150 Thailand
Tel: (66) 2417-9348
Fax: (66) 2867-2958

Emerald House Co. (HK)           Trade - Inventory  $1,414,155
M20 2nd Floor Kaiser Estate Phase 3
11 Hok Yuen Street, Hung Hom
Kowloon
Hong Kong
Tel: (852) 2367-3581
Fax: (852) 2367-3582

M/S Charisma Jewellry PV         Trade - Inventory  $1,388,238
Unit No. 004, Multistoried Building
Seepz, SEZ
Andheri (East)
Mumbai
India 400 096
Tel: (91) 22-2829-0919
Fax: (91) 22-2829-0920

Prism (USA) Inc.                 Trade - Inventory  $1,258,933
570 5th Avenue
Suite #601
New York, NY 10036
Tel: (212) 596-4163
Fax: (212) 596-4219

Tiger Jewellery                  Trade - Inventory  $939,343
   Manufacturing Co., Ltd.
285/2 Ladya ROad
Somdetjaopraya, Khlogsan
Bankgkok
Thailand 10600
Tel: (66) 2890-0112
Fax: (66) 2890-0113

Galassia Company, Ltd.           Trade - Inventory  $652,209
Room 615, 6/FL., Hollywood Plaza
610 Nathan Road, Mongkok
Kowloon
Hong Kong
Tel: (852) 2301-3077
Fax: (852) 2301-2226

Jewelry Creations Ltd.           Trade - Inventory  $456,704
Room 615. 6/FL.,
Hollywood Plaza
610 Nathan Road, Mongkok
Kowloon
Hong Kong
Tel: (852) 2301-3077
Fax: (852) 2301-2226

Thai Jewelry                     Trade - Inventory  $439,250
    Manufactuer Co., Ltd.
620/74-75 Sathupradit 44
Yannawa
Bangkok
Thailand 10120
Tel: (66) 2294-0020
Fax: (66) 2295-3997

Gemini Creation Co. Ltd         Trade - Inventory  $403,053
2210/10 CHan Road
Chongnonsee Yannawa
Bangkok
Thailand 10120
Tel: (66) 2678-2644
Fax: (66) 2678-2646

UPS                             Trade - Shipping   $393,585
UPS Professional Services, Inc.
55 Glenlake Parkway, NE
Atlanta, GA 30328
Tel: (404) 828-6000
Fax: (404) 828-6912

Legend Silver Jewellery         Trade - Inventory  $365,578
    & Watch MFY
Unit 804, 8/F Heng Ngai Jewellery Centre
4 Hok Yuen St. E. Hung Horn
Kowloon
Hong KOng
Tel: (852) 2764-3377
Fax: (852) 2363-8737

Nanjan Co. Ltd.                 Trade - Inventory  $352,225
177/1 Unit 4, 12th Floor
Bangkok Union Insurance Bldg.
Suriyawongse Rd. Bangrak
Bangkok
Thailand 10500
Tel: (66) 2634-7064
Fax: (66) 2634-7068

M/S Royal Classic               Trade - Inventory  $332,881
    Jewels Pvt. Ltd.
4794 K.G.B. KA Rasta
Johari Bazar
Jaipur
India 302 003
Tel: (91) 141-257-5439
Fax: (91) 141-257-4343

ColorJewels                     Trade - Inventory  $267,525
501, 5/F Harbour Center
Tower 2
8 Hok Cheung Street, Hung Hom
Kowloon
Hong KOng
Tel: (852) 2724-1273
Fax: (852) 2367-5543

Miranda Group Co. Ltd.          Trade - Inventory  $262,502
Unit H1, 1/F Kaiser Est., 2nd Phase
47-43 Man Yue Street
20-28  Man Lok Street, Hung Hom
Kowloon
Hong KOng
Tel: (852) 2365-7708
Fax: (852) 2365-0760

Keen Jade Ltd.                  Trade - Inventory  $239,632

Dragon Bay Jewellery            Trade - Inventory  $229,179

Jintai Chituan                  Trade - Inventory  $227,096
(Thailand) Co., Ltd.


GENERIC DRUG: Moody's Assigns 'B2' Corporate Family Rating
----------------------------------------------------------
Moody's Investors Service assigned first-time ratings to Generic
Drug Holdings, Inc., d/b/a The Harvard Drug Group, L.L.C.,
including a B2 Corporate Family Rating and a B2 Probability of
Default Rating.  The entities are collectively referred to as
"Harvard Drug Group." Moody's also assigned a rating of B1 to the
company's first-lien senior secured credit facilities.  The rating
outlook is stable.

The ratings are being assigned in conjunction with the leveraged
buyout of the company by Court Square Capital Partners, a private
equity firm.  Sources of funding for the transaction and other
expenses include new first-lien bank borrows of approximately
$162 million, mezzanine funding of $65 million, and new equity of
$183 million.  Moody's views favorably the sponsor equity
contribution representing nearly one-half of the purchase price.

The B2 Corporate Family Rating is constrained by the company's
small size and market share in the drug distribution industry and
its relatively high financial leverage.  Pro forma Debt/EBITDA
amounts to roughly 4.7 times, based on Moody's calculations.
These risks are offset by a diverse business model that also
includes an institutional segment (Major Pharmaceuticals),
significant customer and vendor diversity, and a good growth
outlook for generic pharmaceutical utilization.  Harvard's
financial performance has been steady to date and Moody's believe
under most scenarios good performance should continue.
Nonetheless, the drug distribution industry remains extremely
competitive and it is difficult to fully rule out scenarios in
which competitive pressures or other industry dynamics pressure
the company's long-term financial performance.

The B1 rating on the secured credit facilities reflects the senior
position in the capital structure relative to the mezzanine
tranche.

Ratings assigned:

Generic Drug Holdings, Inc. --

* B2 Corporate Family Rating

* B2 Probability of Default Rating

* B1 (LGD3, 37%) senior secured first lien revolving credit
  facility due 2015

* B1 (LGD3, 37%) senior secured first lien term loan due 2016

* B1 (LGD3, 37%) senior secured first lien delayed draw term loan
  due 2016

This is Moody's first rating action on Generic Drug Holdings, Inc.

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

Headquartered in Livonia, Michigan, Generic Drug Holdings, Inc.,
through its subsidiary The Harvard Drug Group, L.L.C., is a
distributor of branded and generic pharmaceutical products, over-
the-counter products, respiratory medicines and compounding
supplies.  The company is privately-owned by Court Square Capital
Partners.  In 2009, the company reported net revenues of
approximately $462 million.


GLOBAL GEOPHYSICAL: S&P Assigns 'B' Rating on $200 Mil. Notes
-------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B' issue-level
rating (the same as the corporate credit rating on the company) to
Global Geophysical Services Inc.'s new $200 million senior
unsecured notes due 2017.  In addition, S&P assigned a recovery
rating of '4' to this debt, indicating expectations of average
(30%-50%) recovery in a payment default.  Global Geophysical will
use proceeds from the new notes and IPO to repay its term loans
and for general corporate purposes.  Following the notes offering
with the notes offering the company will also enter into a new
$40 million-$50 million revolving credit facility.

The corporate credit rating on Global Geophysical is 'B' and the
outlook is stable.  The ratings on Global Geophysical Services
Inc. reflect the company's participation in the cyclical land
seismic acquisition business, its small size, and cash flow
volatility as it is exposed to the budgets of exploration and
production (E&P) companies.  The ratings also incorporate the
company's backlog of data-acquisition projects, its performance
through 2009, and its experienced management team.

                           Rating List

                 Global Geophysical Services Inc.

        Corporate Credit Rating                 B/Stable/--

                         Rating Assigned

                 Global Geophysical Services Inc.

            $200 Mil. Sr Unsec. Notes Due 2017        B
               Recovery Rating                        4


GOODING'S SUPERMARKETS: Files for Chapter 11 Bankruptcy Again
-------------------------------------------------------------
Sandra Pedicini at Orlando Sentinel reports that Gooding's
Supermarkets filed for Chapter 11 bankruptcy protection, saying
the Company owes landlord Teachers Insurance and Annuity
Association more than $200,000 in rent, and unsecured creditors
about $700,000 in debt.  The Association had sought to evict the
Company in the state Circuit Court in Orlando.

                         About Gooding's

Headquartered in Orlando, Florida, Gooding's Supermarkets, Inc.,
dba Gooding's, offers catering services and operates a chain of
supermarkets in Central Florida.
The Company first filed for Chapter 11 protection on December 30,
2005 (Bankr. M.D. Fla. Case No. 05-17769).


GOODING'S SUPERMARKETS: Case Summary & 20 Largest Unsec. Creditors
------------------------------------------------------------------
Debtor: Gooding's Supermarkets, Inc
        12521 SR 535
        Lake Buena Vista, FL 32836

Bankruptcy Case No.: 10-05649

Chapter 11 Petition Date: April 5, 2010

Court: U.S. Bankruptcy Court
Middle District of Florida (Orlando)

Debtor's Counsel: R. Scott Shuker, Esq.
                  Latham Shuker Eden & Beaudine LLP
                  Post Office Box 3353
                  Orlando, FL 32802
                  Tel: (407) 481-5800
                  Fax: (407) 481-5801
                  E-mail: bankruptcynotice@lseblaw.com

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

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

A copy of the Company's list of 20 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/flmb10-05649.pdf

The petition was signed by Jonathan Gooding, CEO.


GRACE WU: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------
Debtor: Grace E. Wu, DDS, P.C.
          fka Grace Wu DDS LLC
          dba Radiant Smiles Dental
        587 Virginia Avenue NE, Suite 5
        Atlanta, GA 30306

Bankruptcy Case No.: 10-69617

Chapter 11 Petition Date: April 2, 2010

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

Debtor's Counsel: Leon S. Jones, Esq.
                  Jones & Walden, LLC
                  21 Eighth Street, NE
                  Atlanta, GA 30309
                  Tel: (404) 564-9300
                  Fax: (404) 564-9301
                  E-mail: ljones@joneswalden.com

Estimated Assets: $0 to $50,000

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

A list of the Company's 20 largest unsecured creditors is
available for free at http://bankrupt.com/misc/ganb10-69617.pdf

The petition was signed by Grace E. Wu.


GRAND CAY: Case Summary & 3 Largest Unsecured Creditors
-------------------------------------------------------
Debtor: Grand Cay Harbour, Ltd.
        3118 FM 528, No. 115
        Webster, TX 77598

Bankruptcy Case No.: 10-80204

Chapter 11 Petition Date: April 5, 2010

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

Judge: Letitia Z. Paul

Debtor's Counsel: Leonard H Simon, Esq.
                  Pendergraft & Simon L.L.P.
                  2777 Allen Parkway, Suite 800
                  Houston, TX 77019
                  Tel: (713) 737-8207
                  Fax: (832) 202-2810
                  E-mail: lsimon@pendergraftsimon.com

Estimated Assets: $0 to $50,000

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

A list of the Company's 3 largest unsecured creditors is available
for free at:

             http://bankrupt.com/misc/txsb10-80204.pdf

The petition was signed by Tom W. Moughon, president of GP, Dollar
Cay Dev, Inc.


GRAY TELEVISION: Amalgamated Gadget Holds 4.6% of Common Stock
--------------------------------------------------------------
Amalgamated Gadget, L.P., disclosed that as of December 31, 2009,
it may be deemed to beneficially own 1,960,744 shares or roughly
4.6% of the common stock of Gray Television, Inc.

The shares were purchased by Amalgamated Gadget for and on behalf
of R2 Investments, LDC, pursuant to an Investment Management
Agreement.  Pursuant to the Agreement, Amalgamated Gadget has sole
voting and dispositive power over the shares and R2 has no
beneficial ownership of the shares.

Headquartered in Atlanta, Georgia, Gray Television, Inc., operates
36 primary television stations serving 30 mid-sized markets.  The
company's total revenues were approximately $270 million for the
year ended December 31, 2009.

                           *     *     *

As reported by the Troubled Company Reporter on April 6, 2010,
Moody's Investors Service said Gray Television's amendment to its
credit agreement does not affect the company's Caa1 Corporate
Family Rating, Caa2 Probability of Default Rating, SGL-4
speculative grade liquidity rating or its rating outlook which is
negative.  Moody's last rating on action Gray occurred on April 1,
2009, when it lowered the company's CFR to Caa1 from B3, PDR to
Caa2 from Caa1, and senior secured credit facility rating to Caa1
from B3.


GRAY TELEVISION: Dimensional Fund Holds 6.09% of Common Stock
-------------------------------------------------------------
Dimensional Fund Advisors LP disclosed that as of December 31,
2009, it may be deemed to beneficially own 2,612,833 shares or
roughly 6.09% of the common stock of Gray Television, Inc.

Dimensional Fund Advisors LP is an investment adviser registered
under Section 203 of the Investment Advisors Act of 1940.  It
furnishes investment advice to four investment companies
registered under the Investment Company Act of 1940, and serves as
investment manager to certain other commingled group trusts and
separate accounts.

Headquartered in Atlanta, Georgia, Gray Television, Inc., operates
36 primary television stations serving 30 mid-sized markets.  The
company's total revenues were approximately $270 million for the
year ended December 31, 2009.

                           *     *     *

As reported by the Troubled Company Reporter on April 6, 2010,
Moody's Investors Service said Gray Television's amendment to its
credit agreement does not affect the company's Caa1 Corporate
Family Rating, Caa2 Probability of Default Rating, SGL-4
speculative grade liquidity rating or its rating outlook which is
negative.  Moody's last rating on action Gray occurred on April 1,
2009, when it lowered the company's CFR to Caa1 from B3, PDR to
Caa2 from Caa1, and senior secured credit facility rating to Caa1
from B3.


GRAY TELEVISION: Highland Capital Holds 0.01% of Common Stock
-------------------------------------------------------------
Highland Capital Management, L.P.; Strand Advisors, Inc.; James D.
Dondero; and Highland Credit Strategies Fund disclosed that as of
December 31, 2009, they may be deemed to beneficially own 63,400
shares or roughly 0.01% of the common stock of Gray Television,
Inc.

Highland Capital principally serves as an investment adviser or
manager to other persons, including Credit Strategies.  Strand
serves as the general partner of Highland Capital.  Mr. Dondero is
the President and a director of Strand.

Headquartered in Atlanta, Georgia, Gray Television, Inc., operates
36 primary television stations serving 30 mid-sized markets.  The
company's total revenues were approximately $270 million for the
year ended December 31, 2009.

                           *     *     *

As reported by the Troubled Company Reporter on April 6, 2010,
Moody's Investors Service said Gray Television's amendment to its
credit agreement does not affect the company's Caa1 Corporate
Family Rating, Caa2 Probability of Default Rating, SGL-4
speculative grade liquidity rating or its rating outlook which is
negative.  Moody's last rating on action Gray occurred on April 1,
2009, when it lowered the company's CFR to Caa1 from B3, PDR to
Caa2 from Caa1, and senior secured credit facility rating to Caa1
from B3.


GRAY TELEVISION: Posts Net Loss for 3rd Consecutive Year
--------------------------------------------------------
Gray Television, Inc., filed with the Securities and Exchange
Commission its annual report on Form 10-K for the year ended
December 31, 2009.

Gray Television reported a net loss for the third consecutive
year.  Net loss available to common stockholders was $40,166,000
for 2009, from a net loss of $208,609,000 for 2008 and $24,777,000
for 2007.  Revenues less agency commissions were $270,374,000 for
2009 from $327,176,000 for 2008 and $307,288,000 for 2007.

For the three months ended December 31, 2009, net loss available
to common stockholders was $6,509,000 for 2009 from $209,326,000
for 2008.  Revenues less agency commissions for the 2009 fourth
quarter were $77,517,000, down 18% from $94,803,000 in 2008.

At December 31, 2009, the Company had total assets of
$1,245,739,000 against total liabilities of $1,058,733,000,
resulting in stockholders' equity of $93,620,000.  At December 31,
2008, stockholders' equity was $117,107,000.

A full-text copy of the Company's annual report on Form 10-K is
available at no charge at http://ResearchArchives.com/t/s?5eff

In a news statement, Gray said it currently believes its first
quarter 2010 local revenue, excluding political revenue, will
increase from 2009 by approximately 11%.  Gray currently believes
its first quarter 2010 national revenue, excluding political
revenue, will increase from 2009 by approximately 8%.

Gray anticipates its first quarter 2010 Internet revenue will
increase from 2009 by approximately 15%.  Gray anticipates its
first quarter 2010 political advertising revenue will increase to
$2.8 million.

Gray anticipates its retransmission consent revenues during the
first quarter of 2010 will increase approximately $900,000, to a
total of approximately $4.5 million, reflecting the successful
retransmission negotiations concluded in 2009 and the first
quarter of 2010.

Gray estimates its consulting revenue will increase to $600,000
for the first quarter of 2010.

The anticipated increase in broadcast operating expense for the
first quarter 2010 compared to the first quarter of 2009 is due
primarily to anticipated increases in base compensation expense,
commissions associated with higher anticipated revenue and pension
expense.

The anticipated decrease in corporate expense for the first
quarter of 2010 compared to the first quarter of 2009 is due
primarily to an expected decrease in relocation and legal
expenses.

A full-text copy of the Company's earnings release is available at
no charge at http://ResearchArchives.com/t/s?5f00

Gray filed its 10-K report on April 7, 2010, seven days after
informing the SEC the report would be delayed.  Gray blamed the
delay on its discussions with lenders on possible modifications to
the terms of its credit facility.

Based upon certain internal financial projections, Gray did not
believe that it would be in compliance with its total net leverage
ratio as of March 31, 2010, unless it further amended the terms of
its senior credit facility. As a result, Gray requested and
obtained such an amendment of its senior credit facility on
March 31, 2010.

Effective as of March 31, 2010, Gray amended its senior credit
facility with a consortium of lenders led by Wells Fargo Bank,
N.A., as successor by merger to Wachovia Bank, National
Association, as administrative agent.  The Amendment provides
for, among other things, (i) an increase in the maximum total
net leverage ratio covenant under the Credit Agreement through
March 30, 2011, and (ii) a potential issuance of capital stock or
senior or subordinated debt securities, which could include
securities with a second lien security interest.  The Amendment
also provides for a reduction in the revolving loan commitment
under the senior credit facility from $50.0 million to
$40.0 million.

From March 31, 2010, until the date the Company completes an
offering of Replacement Debt resulting in the repayment of not
less than $200 million of the Company's term loan outstanding
under the Credit Agreement, (i) the Company is required to pay an
annual incentive fee equal to 2.0%, which fee will be eliminated
upon the consummation of such offering and repayment, (ii) the
annual facility fee will remain at 3.0%, which fee will, following
such repayment, be reduced to 1.25% per year, with a potential for
further reductions in future periods, and (iii) the Company will
remain subject to a maximum total net leverage ratio, which will,
following such repayment, be replaced by a first lien leverage
test.  In addition, from and after such repayment, the Company
will be required to comply with a minimum fixed charge coverage
ratio of 0.90x to 1.0x.

Upon the completion of an offering of Replacement Debt that
results in the repayment of not less than $200 million of the
Company's term loan outstanding under the Credit Agreement, the
Company will, from the date of such repayment, be subject to a
maximum first lien leverage ratio covenant, which will replace the
Company's current maximum total leverage ratio covenant.  The
covenant will range from 7.5x to 6.5x, depending upon the amount
of any such repayment.

The use of proceeds from any issuance of Replacement Debt will
generally be limited to the repayment of amounts outstanding under
the term loan under the Credit Agreement and, in certain
circumstances, to the repurchase of outstanding shares of the
Company's Series D Perpetual Preferred Stock.  The Company cannot
provide any assurances that such a sale of Replacement Debt, or
any repurchase of such preferred stock, will be completed by the
Company, or of the terms or timing thereof.

Beginning April 30, 2010 and thereafter, all interest and fees
accrued under the Credit Agreement will be payable in cash upon
their respective due dates, with no portion of such accrued
interest and fees being subject to deferral.

Additional discussions on the Amendment are available at no charge
at http://ResearchArchives.com/t/s?5f01

Headquartered in Atlanta, Georgia, Gray Television, Inc., operates
36 primary television stations serving 30 mid-sized markets.  The
company's total revenues were approximately $270 million for the
year ended December 31, 2009.

                           *     *     *

As reported by the Troubled Company Reporter on April 6, 2010,
Moody's Investors Service said Gray Television's amendment to its
credit agreement does not affect the company's Caa1 Corporate
Family Rating, Caa2 Probability of Default Rating, SGL-4
speculative grade liquidity rating or its rating outlook which is
negative.  Moody's last rating on action Gray occurred on April 1,
2009, when it lowered the company's CFR to Caa1 from B3, PDR to
Caa2 from Caa1, and senior secured credit facility rating to Caa1
from B3.


GREATER GERMANTOWN HOUSING: Chapter 11 Case Summary
---------------------------------------------------
Debtor: Greater Germantown Housing Development Corporation
        5538 Wayne Ave
        Philadelphia, PA 19144

Bankruptcy Case No.: 10-12614

Chapter 11 Petition Date: April 1, 2010

Court: United States Bankruptcy Court
       Eastern District of Pennsylvania (Philadelphia)

Judge: Chief Judge Stephen Raslavich

Debtor's Counsel: Thomas Daniel Bielli, Esq.
                  Ciardi Ciardi & Astin, P.C.
                  One Commerce Square
                  2005 Market Street, Suite 1930
                  Philadelphia, PA 19103
                  Tel: (215) 557-3550
                  Fax: (215) 557-3551
                  E-mail: tbielli@ciardilaw.com

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

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

The petition was signed by Emanuel V. Freeman, president.


HAEMACURE CORPORATION: Angiotech Closes Purchase Some Assets
------------------------------------------------------------
Angiotech Pharmaceuticals, Inc., closed its acquisition of certain
product candidates and technology assets of Haemacure Corporation.
Haemacure has been involved in proceedings under Canada's
Bankruptcy and Insolvency Act and Chapter 11 of the United States
Bankruptcy Code.

Through an asset sale transaction, Angiotech has acquired all of
the relevant research and development activities, manufacturing
operations, key personnel, and intellectual property rights
necessary to pursue the commercialization of Haemacure's human
biomaterial product candidates, namely fibrin sealant and thrombin
hemostat.  The proprietary fibrin sealant is made of two human
plasma proteins, fibrinogen and thrombin, which are extracted from
human blood plasma through a proprietary, high-yield, low-cost
extraction manufacturing process.

The surgical sealant and hemostat market is estimated to be in
excess of $500 million annually in the U.S.  The acquired fibrin
sealant and thrombin hemostat product candidates have applications
in a wide array of surgical specialties, including general and
abdominal surgery, cardiothoracic and vascular surgery, gynecology
and urology surgery and reconstructive and plastic surgery.  In
addition, Angiotech believes that these biomaterials may be
effective drug delivery vehicles.

"We took an important step today by adding new technologies that
will provide multiple new product candidates for our surgical
business.  We now have the capability to develop, manufacture and
commercialize fibrin sealant, fibrinogen and thrombin-based
biomaterials as competitive and compelling stand alone products,
and the ability to develop drug-loaded versions of these
biomaterials without relying on external suppliers," said Dr.
William Hunter, President and CEO of Angiotech.  "With these
biologics assets and our proprietary Quill(TM) SRS product line,
we believe we have formed a surgical franchise that can provide
innovative products for patients and our physician customers, as
well as strong revenue growth, for many years to come."

Prior to its acquisition, the fibrin sealant has been studied in
several clinical trials.  Thus far clinical data have demonstrated
the fibrin sealant is well tolerated in patients.  Efficacy data
has shown the fibrin sealant has potential as a hemostatic agent.
As a result of the change of manufacturing facilities for these
product candidates, additional phase III clinical testing will be
required by the FDA.

In June 2009, Angiotech provided Haemacure a US$2.5 million senior
secured bridge loan as part of a collaboration that provided
Angiotech with certain technology and product distribution rights.
On January 11, 2010, Haemacure announced that it had filed a
notice of intention to make a proposal to its creditors under the
Bankruptcy and Insolvency Act (Canada), and that its wholly-owned
U.S. subsidiary sought court protection under Chapter 11 of the
Bankruptcy Code in the U.S.  On March 22, 2010, Haemacure
announced that it had obtained authorization from the Superior
Court of the Province of Quebec to sell its assets to Angiotech
and that the U.S. Bankruptcy Court had authorized the sale to
Angiotech of the assets of Haemacure's U.S. subsidiary.

At closing, Angiotech estimates that it will have funded
approximately US$1.5 million in additional transaction-related
expenses, which include the funding of Haemacure's insolvency
proceedings and day-to-day operations, legal fees and expenses.
Angiotech expects that modest additional expenditures for research
and development may be required in 2010, depending upon final
decisions as to product development timelines and the operations
and personnel of Haemacure's manufacturing facility.  These
potential expenditures are not expected to materially impact
Angiotech's liquidity position and capital resources in 2010.
Additional information regarding the impact of this transaction,
and Angiotech's future plans regarding its liquidity position and
capital resources, will be provided upon the release of our first
quarter financial results in early May 2010.

                   About Haemacure Corporation

Haemacure Corporation -- http://www.haemacure.com/en/-- is a
Canada-based company.  It is a bio-therapeutics company developing
human therapeutic proteins for commercialization.  The Company's
two human plasma-based products are: Hemaseel HMN, a fibrin
sealant, and Hemaseel Thrombin, an active, absorbable haemostatic
agent, which is in the preclinical stage.  Fibrin sealant has
application in hemostasis adhesion and wound healing, adhesion
prevention, aesthetics, combination with biomaterials, drug
delivery, regenerative medicine and skin graft fixation for burn
injuries.  The Company also sells two fibrin sealant delivery
devices under the trademarks HemaMyst, which is a double-syringe
applicator, and HemaSyst, which is an aerosol application system.
The Company's wholly owned subsidiary is Haemacure U.S.

                       *     *     *

As reported in the Troubled Company Reporter on February 8, 2010,
Haemacure Corporation has obtained a first extension until
March 22, 2010, of the delay within which to make a proposal
pursuant to the notice of intention to make a proposal to its
creditors it filed on January 8, 2010, under the Bankruptcy and
Insolvency Act (Canada).  This extension is intended to allow
Haemacure to complete a call for tenders for the sale of its
assets, close a sale transaction with the successful tenderer,
seek the required approvals for the transaction and proposal to
creditors, and execute the proposal.


HAWAIIAN TELCOM: Files Registration to Become Publicly Traded
-------------------------------------------------------------
Hawaiian Telcom filed a Form 10 with the Securities and Exchange
Commission as the first step in the review and registration
process to become a publicly traded company upon emergence from
Chapter 11.  Undertaking this process is part of the company's
Plan of Reorganization approved last November by the U.S.
Bankruptcy Court for the District of Hawaii.

"Becoming a publicly traded company marks a significant milestone
in our efforts to evolve as a stronger, more competitive company,
expanding and diversifying our communications products, services
and solutions, for the benefit of our customers," said President
and CEO Eric K. Yeaman.

In addition to undertaking the process of becoming publicly
traded, the company's Plan of Reorganization provides for the
appointment of a new board of directors by the Senior Secured
Creditors, who will be the majority equity owners of the company
upon emergence from Chapter 11.

Reflecting a shift in focus from one of restructuring to shaping
Hawaiian Telcom for future growth, incoming directors have in-
depth experience and knowledge of the company and extensive
experience in the telecommunications industry.

The incoming Directors who will become effective upon emergence
from Chapter 11 include:

     a. Warren H. Haruki, who is currently the Executive Chairman
        of the Board and Interim Chief Executive Officer, Maui
        Land & Pineapple Company, Inc.  He is also the President
        and CEO of Grove Farm Company and prior to that was the
        President of GTE Hawaiian Tel and Verizon Hawaii from 1991
        to 2003.

     b. Richard A. Jalkut, who is the President and CEO of U.S.
        TelePacific Corp. (dba TelePacific Communications), a
        communications company operating in California and Nevada
        primarily serving the small-to mid-size business markets.
        Mr. Jalkut has more than 35 years of experience in the
        communications industry.

     c. Steven C. Oldham, who is the President and CEO of SureWest
        Communications, a publicly held integrated communications
        company providing voice, high-speed internet and digital
        video service in Northern California and Kansas.  He
        currently serves as Chairman of the United States Telcom
        Association, the leading trade association representing
        telecommunications service providers, manufacturers and
        suppliers.

     d. Bob Phillips III, who is the President and CEO of the
        National Rural Telecommunications Cooperative.  He serves
        on the Boards of Directors of privately held Avail-TVN, a
        digital media services company, and Digital Bridge
        Communications Corp., a private operator of WiMAX 4G
        broadband networks.

     e. Paul H. Sunu, who is the CFO of Hargray Communications
        Group, a regional provider of voice, video and data
        services headquartered in South Carolina.  Prior to
        joining Hargray, Sunu served as CFO for Hawaiian Telcom
        from May 2007 to March 2008.  He also founded Madison
        River Communications and served on its Board of Directors
        and as CFO until its merger with CenturyLink in April
        2007.

As President and CEO of Hawaiian Telcom, Mr. Yeaman will continue
to serve on the Board of Directors.

"I am excited and look forward to working with our new Board,"
said Mr. Yeaman.  "They bring extensive industry expertise and
experience.  We will work together to lead Hawaiian Telcom on a
path to grow, prosper, and to continue to meet the communication
needs of the people and businesses of Hawaii.

"I would also like to take this opportunity to extend my
appreciation to our current directors for their steadfast
dedication and guidance during a very challenging period," said
Yeaman.  "On behalf of our senior management team and employees, I
would like to thank Vice Chairs James Attwood and Stephen Gray,
and Director Alan Oshima for their commitment and leadership.  I
would especially like to thank Walter Dods, as Chairman and
someone who has been instrumental in getting the company on the
right path."

Walter A. Dods Jr., who has been a Hawaiian Telcom board member
since May 2005, was named Chairman of the Board in May 2008.

"I made the decision to take a more active role in the company as
part of the restructuring process because I believe this
institution is important to Hawaii," said Mr. Dods.  "The
financial restructuring process has been very successful and, with
regulatory approval as the final step, I am hopeful that we can
quickly conclude this process.  Upon emergence from Chapter 11, we
have a local management team in place who will continue to build
the trust of our employees and our customers, taking the company
to the next level.  I continue to believe in this company and will
continue to support it in any way I can."

                   About Hawaiian Telcom

Based in Honolulu, Hawaii, Hawaiian Telcom Communications, Inc.
-- http://www.hawaiiantel.com/-- operates a telecommunications
company, which offers an array of telecommunications products and
services including local and long distance service, high-speed
Internet, wireless services, and print directory and Internet
directory services.

The Company and seven of its affiliates filed for Chapter 11
protection on December 1, 2008 (Bankr. D. Del. Lead Case No.
08-13086).  As reported by the TCR on December 30, 2008, Judge
Peter Walsh of the U.S. Bankruptcy Court for the District of
Delaware approved the transfer of the Chapter 11 cases to the U.S.
Bankruptcy Court for the District of Hawaii before Judge Lloyd
King (Bankr. D. Hawaii Lead Case No. 08-02005).

Richard M. Cieri, Esq., Paul M. Basta, Esq., and Christopher J.
Marcus, Esq., at Kirkland & Ellis LLP, represent the Debtors in
their restructuring efforts.  The Debtors proposed Lazard Freres &
Co. LLC as investment banker; Zolfo Cooper Management LLC as
business advisor; Deloitte & Touche LLP as independent auditors;
and Kurztman Carson Consultants LLC as notice and claims agent.
An official committee of unsecured creditors has been appointed
and is represented by Christopher J. Muzzi, Esq., at Moseley Biehl
Tsugawa Lau & Muzzi LLC, in Honolulu, Hawaii.

When the Debtors filed for protection from their creditors, they
listed total assets of $1,352,000,000 and total debts of
$1,269,000,000 as of September 30, 2008.

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


HARMAN INTERNATIONAL: S&P Gives Pos. Outlook; Affirms 'B+' Rating
-----------------------------------------------------------------
Standard & Poor's Ratings Services said that it revised its
outlook on Stamford, Conn.-based Harman International Industries
Inc. to positive from stable and affirmed the ratings on the
company, including the 'B+' corporate credit rating.

"The outlook revision reflects S&P's view that Harman has stemmed
its cash flow consumption rate and achieved an operational
breakeven point that better fits expected intermediate-term global
auto production levels," said Standard & Poor's credit analyst
Nancy C. Messer.  "S&P believes that Harman's margins should rise
in 2010 and 2011, even if production volumes remain weak by
historical standards for the next year, because the company's
aggressive restructuring activities have improved its operating
efficiencies and lowered its breakeven point." In addition, S&P
see new vehicle demand stabilizing in Europe and North America.
The company reported $78 million of positive free operating cash
flow in the first half of its fiscal 2010 (ended December 31), and
S&P expects Harman to be cash neutral (plus or minus $20 million)
for its fiscal 2010 year ending June 30.  The company's liquidity
has improved because it reached an agreement with the holders of
its $400 million convertible notes that removes a borrowing
constraint on the company's revolving credit facility.

Accordingly, S&P now believes there is a one-in-three chance that
S&P could upgrade Harman in the year ahead.  S&P continues to view
Harman's business risk profile as weak and now view its financial
risk profile as aggressive because of its improved liquidity and
cash generating capability.  Still, Harman has high leverage and
minimal cash flow protection measures, with ease and pension-
adjusted leverage of 5.9x, and funds-from-operations/total debt of
3.7% as of Dec. 31, 2009.

The positive outlook reflects S&P's view that Harman's improved
liquidity will be sufficient to manage the ongoing weakness in the
auto market until production volumes begin to improve globally and
that the company's margin improvement so far in 2010 demonstrates
the company's ability to generate meaningful positive free cash in
2011.  This assumes stability in the auto market and no further
significant drop in production volumes in the U.S. or Europe.  In
addition to its cash balance of about $250 million, the company
now has access to its $300 revolving credit facility following an
agreement reached with holders of its $400 million convertible
debt.  Harman has also achieved through restructuring an
operational breakeven point that better fits lower expected
intermediate-term global auto production levels.

S&P could raise the rating if Harman were able to sustainably
improve its cash flow generation, and begin to address the 2011
and 2012 debt maturities.  In S&P's opinion, free cash flow could
improve to $100 million or better if the company can achieve
reported EBITDA of at least $250 million for any forward 12-month
period.  Still, challenges over the year ahead include, in S&P's
view, the still-weak global economy, and uncertain production
volumes for its European auto customers will pressure earnings in
2010.

S&P could lower the rating if S&P believed weak earnings and cash
flow because of the deteriorated global auto markets would outpace
the benefits of restructuring initiatives and recently launched
new programs.  For example, S&P could lower the rating if the
company's liquidity worsened in fiscal 2010 because of negative
EBITDA and/or cash use exceeding its assumption of up to
$20 million.  S&P could also review the rating if the company were
to pursue a transforming acquisition or large dividend payout in
the year ahead that could erode liquidity.


HARVARD DRUG: S&P Assigns Corporate Credit Rating at 'B'
--------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B' corporate
credit rating to Livonia, Michigan-based Harvard Drug Group LLC.
At the same time, S&P assigned a 'B+' issue-level rating (one
notch higher than the corporate credit rating) to Generic Drug
Holdings Inc.'s (the holding company of Harvard Drug Group LLC)
proposed $160 million senior secured term loan maturing in 2016,
$20 million revolving credit facility maturing in 2015, and
$22 million delayed draw facility maturing in 2016.  The recovery
rating on these credit facilities is '2', indicating S&P's
expectation for substantial (70%-90%) recovery in the event of
payment default.  The rating outlook is stable.

S&P's speculative-grade ratings overwhelmingly reflect Harvard
Drug's highly leveraged financial risk profile (S&P treats the
company's class L common stock as debt because of its 10% pay-in-
kind, or PIK interest).  The ratings also reflect the company's
relatively small size, niche strategy, and the potential for
increased acquisition activity.


HERRERA, HERRERA: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Herrera, Herrera & Associates, Inc.
          dba Mercado Internacional 2000
        1415 3rd Avemue
        Chula Vista, CA 91910

Bankruptcy Case No.: 10-05549

Chapter 11 Petition Date: April 2, 2010

Court: United States Bankruptcy Court
       Southern District of California (San Diego)

Debtor's Counsel: Alan L. Williams, Esq.
                  Law Offices of Alan L. Williams
                  2550 Fifth Avenue, Suite 520
                  San Diego, CA 92103
                  Tel: (619) 296-0196
                  Fax: (619) 296-2982
                  E-mail: awilliams@alwlaw.com

Estimated Assets: $0 to $50,000

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

A list of the Company's 20 largest unsecured creditors is
available for free at http://bankrupt.com/misc/casb10-05549.pdf

The petition was signed by Roberto Herrera, Jr., vice president.


HOLIDAY 360: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Holiday 360 Ltd.
        2311 Texas Drive, Suite 105
        Irving, TX 75062

Bankruptcy Case No.: 10-42412

Chapter 11 Petition Date: April 5, 2010

Court: United States Bankruptcy Court
       Northern District of Texas (Ft. Worth)

Judge: D. Michael Lynn

Type of Business: Single Asset Real Estate

Debtor's Counsel: John C. Leininger, Esq.
                  Bryan Cave LLP
                  2200 Ross Avenue, Suite 3300
                  Dallas, TX 75201
                  Tel: (214) 721-8040
                  E-mail: john.leininger@bryancave.com

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

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

The petition was signed by Suhas Naik, Manager of Sava Ventures
LLC, GP of Gen. Partner

Debtor-affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
  Hotel 635 Beltline, LP               10-42415   4/5/10
   Assets: $10-mil. to $50-mil.
   Debts: $10-mil. to $50-mil.

  Stay 190, Ltd.                       10-42413   4/5/10
   Assets: $10-mil. to $50-mil.
   Debts: $10-mil. to $50-mil.

Holiday 360's List of 20 Largest Unsecured Creditors:

  Entity                     Nature of Claim        Claim Amount
  ------                     ---------------        ------------
Connected Hotel                  --                  $72,000
P.O. Box 93809
Southlake, TX 76092
Tel: (972) 636-5563

Tasco Builders                   --                  $50,000

Intercontinental Hotels Group    --                  $34,136
P.O. Box 101074
Atlanta, GA 30392-1074

Clear Channel Airports           --                  $28,025
P.O. Box 847247
Dallas, TX 75284

ANJ Security Guard and Patrol    --                  $14,731

TravelCLICK, Inc.                --                  $12,000

Charter Communications           --                  $10,973

Serta Mattress Company           --                  $9,512

Reliant Energy                   --                  $8,749

Guest Supply                     --                  $5,243

Meritax Landmark                 --                  $4,196

Hotel 360, Ltd.                  --                  $3,999

H D Supply Facilities            --                  $3,073

CentrePort Venture, Inc.         --                  $3,022

American Hotel Register Company  --                  $2,791

City of Fort Worth - Utilities   --                  $2,747

National Business Travel         --                  $2,515

EcoLab                           --                  $2,334

Starbucks                        --                  $2,000

KC Booth Co                      --                  $1,995


HOME INTERIORS: Plan Confirmation Hearing Scheduled for May 26
--------------------------------------------------------------
Home Interiors & Gifts, Inc., et al., received approval from the
U.S. Bankruptcy Court for the Northern District of Texas of the
their disclosure statement for the proposed amended Plan of
Liquidation.  The Bankruptcy Court approval of the Debtors'
disclosure statement allows the Debtors to commence the
solicitation of votes for confirmation of their Plan.

The Plan was proposed by Dennis Faulkner, Chapter 11 trustee for
the Debtors' estates.

The deadline for returning completed ballots is on May 19, 2010,
at 5:00 p.m. Pacific Time.

A hearing to consider confirmation of the Plan is scheduled for
May 26, 2010 at 1:15 p.m., Central Time before the Hon. Barbara
Houser, U.S. Courthouse, 1100 Commerce Street, 14th Floor, Dallas,
Texas.  Objections, if any, are due on May 19, 2010, at 5:00 p.m.
CT.

According to the amended Disclosure Statement, the Plan
contemplates the formation of a creditor trust to maintain and
hold professional fee reserve and wind-up reserve, consolidate the
Debtors, and distribute funds in accordance to the Plan.  All
assets of the Debtors and their estate will be transferred to and
vest in the creditor trust.

                        Treatment of Claims

Class 1 secured claims of the prepetition lenders will retain
their liens on all remaining pre- and post-petition collateral
securing their claims.  The creditor trust trustee will remit to
the prepetition agent 79.92% of the proceeds from the collection
of any collateral.

Class 2 other secured claims will will receive either i)
conveyance of its collateral; ii) payment in cash in the amount
of the allowed claim; or iii) other treatment as may be agreed to
by the holder and the creditor trust trustee.  The Plan did not
provide for the estimated percentage recovery by holders of other
secured claims.

Class 3 general unsecured claims will share in the same pool of
assets as if in a single class.  General unsecured creditors will
share pro rata in any recoveries from chapter 5 causes of action.
When distributions to general unsecured creditors in Class 3 reach
$3.5 million, the general unsecured creditors will then share pro
rata in the pool of all unsecured claims including the deficiency
claim of the group two lenders.

The rights of Class 4 equity interest holders will be extinguished
on the effective date.

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

The Chapter 11 trustee is represented by:

     Michael A. McConnell
     Nancy Ribaudo
     Kelly Hart & Hallman LLP
     201 Main Street, Suite 2500
     Fort Worth, Texas 76102
     Fax: (817) 878-9280
     Email: nancy.ribaudo@kellyhart.com

                About Home Interiors & Gifts, Inc.

Headquartered in Carrollton, Texas, Home Interiors & Gifts, Inc.
-- http://www.homeinteriors.com/-- manufactures, imports and
distributes indoor and outdoor home decorative accessories.  It
was founded by Mary Crowley in 1957.  Through its affiliates, the
Company has a significant presence in Mexico, Puerto Rico, and
Canada.  Annual revenue in 2007 reached $300 million.  When Mary
Crowley, died in 1986, her son, Don Carter continued the business
operation nearly debt-free.  In a leveraged transaction in 1998,
private equity firm of Hicks, Muse, Tate, and Furst acquired 66%
of the parent company, which resulted in the imposition of more
than $500 million in debt on the Debtors.  In the face of
decreased sales and increased debt load, bondholders canceled
their debts in February 2006 in exchange for receiving most of the
outstanding equity of the Debtors.

About 40% of the goods the Debtors sell are now acquired from
manufacturers in China.  In the last decade, sales volume in the
U.S. has waned, but the Debtors reported that sales in Mexico and
Puerto Rico significantly increased.

The Company and six of its affiliates filed for Chapter 11
protection on April 29, 2008 (Bankr. N.D. Tex. Lead Case No.
08-31961).  Andrew Jillson, Esq., Cameron Kinvig, Esq., Robert
McCormick, Esq., and Mike Massad, Esq., at Hunton & Williams, LLP,
represent the Debtors as counsel.  Richard A. Lindenmuth
at Boulder International LLC, is designated as CRO.  The U.S.
Trustee for Region 6 has appointed seven creditors to serve on an
official committee of unsecured creditors.  Munsch Hardt Kopf &
Harr, PC, represents the Committee in these cases.  Kurtzman
Carson Consultants LLC is the official noticing and balloting
agent.  In its schedules, Home Interiors & Gifts, Inc., listed
$88,653,051 in total assets, and $510,451,698 in total
liabilities.

As reported in the Troubled Company Reporter on December 11, 2008,
the Court approved the appointment by the United States Trustee of
Dennis Faulkner as Chapter 11 trustee in the Debtors' bankruptcy
cases.  Dennis Faulkner, of the accounting firm of Lain, Faulkner
& Co., P.C., is a member of the American Bankruptcy Institute and
the Association of Insolvency and Restructuring Advisors.  Lain,
Faulkner & Co., P.C., is an accounting firm which specializes in
bankruptcy, litigation and business advisory services.


HOTEL 635: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: Hotel 635 Beltline, LP
        2311 Texas Drive, Suite 105
        Irving, TX 75062

Bankruptcy Case No.: 10-42415

Chapter 11 Petition Date: April 5, 2010

Court: United States Bankruptcy Court
       Northern District of Texas (Ft. Worth)

Judge: D. Michael Lynn

Type of Business: Single Asset Real Estate

Debtor's Counsel: John C. Leininger, Esq.
                  Bryan Cave LLP
                  2200 Ross Avenue, Suite 3300
                  Dallas, TX 75201
                  Tel: (214) 721-8040
                  E-mail: john.leininger@bryancave.com

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

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

The petition was signed by Suhas Naik, Manager of Sava Ventures
LLC, GP of Gen. Partner

Debtor-affiliate that filed separate Chapter 11 petitions:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
  Holiday 360, Ltd.                    10-42412   4/5/10
   Assets: $10-mil. to $50-mil.
   Debts: $10-mil. to $50-mil.

  Stay 190, Ltd.                       10-42413   4/5/10
   Assets: $10-mil. to $50-mil.
   Debts: $10-mil. to $50-mil.

Hotel 635's List of 20 Largest Unsecured Creditors:

   Entity                        Nature of Claim     Claim Amount
   ------                        ---------------     ------------
Rainer Income & Growth Fund III, --                  $261,958
13760 Noel Road, Suite 800
Dallas, Texas 75240

Connected Hotel                  --                  $98,401
P.O. Box 93809
Southlake, TX 76092

Floors 2000, Inc.                --                  $24,253

JD Plaster Masonry               --                  $22,683

Reed Plumbing Inc.               --                  $21,891

Clear Channel Airports           --                  $21,388

TASCO Builders                                       $20,145

DMX Inc.                         --                  $19,988

Commercial Sales & Service, Inc. --                  $19,280

Quiltcraft                       --                  $19,105

North Texas Glazing Co.          --                  $17,460

Life Fitness                     --                  $17,012

Wortham Brothers                                     $15,517

IMB Corporation                  --                  $13,999

Roman Marble Design, Inc.        --                  $12,762

Hernandez Heating & Air          --                  $12,671

Purdy-McGuire                    --                  $11,137

L & K Construction               --                  $10,056

PCI Construction                 --                  $10,029

Wessco International                                 $9,885


HYDE PARK: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: Hyde Park Place, L.P.
        6100 Center Drive Suite 1200
        Los Angeles, CA 90045

Bankruptcy Case No.: 10-22903

Chapter 11 Petition Date: April 5, 2010

Court: U.S. Bankruptcy Court
       Central District of California (Los Angeles)

Judge: Ernest M. Robles

Debtor's Counsel: Richard H Gibson, Esq.
                  21800 Oxnard Street #310
                  Woodland Hills, CA 91367
                  Tel: (818) 716-7950
                  Fax: (818) 716-7995

Estimated Assets: $0 to $500,000

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

A copy of the Company's list of 20 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/cacb10-22903.pdf

The petition was signed by Sharon Sumpter, executive director.


ICAGEN INC: Ernst & Young Raises Going Concern Doubt
----------------------------------------------------
Icagen, Inc., filed on March 30, 2010, its annual report on
Form 10-K for the year ended December 31, 2009.

Ernst & Young LLP, in Raleigh, N.C., 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 negative operating cash flows.

The Company reported a net loss of $12.8 million for 2009,as
compared to a net loss of $14.8 million for 2008, a decrease of
14%.  The decrease in net loss was primarily due to a decrease in
operating expenses, partially offset by a decrease in revenue and
interest income.  Cash used in operations for 2009 was
$15.4 million, as compared to $18.0 million during 2008.

Revenues for 2009 totaled $9.6 million, as compared to
$12.3 million for 2008, a decrease of 22%.  The decrease in
revenues was primarily due to a decrease in amortization of the
initial upfront payment from Pfizer which became fully amortized
during the third quarter of 2009.

Revenues for the fourth quarter of 2009 totaled $1.4 million, as
compared to $3.0 million during the same period in 2008, a
decrease of 54%.  Net loss for the fourth quarter of 2009 totaled
$3.3 million, as compared to a net loss of $3.9 million during the
same period in 2008, a decrease of 16%.

The Company's balance sheet as of December 31, 2009, showed
$21.1 million in assets, $4.4 million of debts, and $16.7 million
of stockholders' equity.

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

                http://researcharchives.com/t/s?5f37

A full-text copy of the release disclosing the Company's financial
results for the fourth quarter and full year ended December 31,
2009, is available for free at
http://researcharchives.com/t/s?5f36

Icagen, Inc. (NASDAQ: ICGN) -- http://www.icagen.com/-- is a
biopharmaceutical company based in Research Triangle Park, North
Carolina, focused on the discovery, development and
commercialization of novel orally-administered small molecule
drugs that modulate ion channel targets.


ILX RESORTS: Posts $1.9 Million Net Loss in 2009
------------------------------------------------
ILX Resorts Incorporated filed on March 30, 2010, its annual
report on Form 10-K for the year ended December 31, 2009, showing
a net loss of $1.9 million on $33.6 million of revenue for 2009,
compared with a net loss of $8.7 million on $27.4 million of
revenue for 2008.

The Company's balance sheet as of December 31, 2009, showed
$71.1 million in assets, $43.0 million of debts, and $28.1 million
of stockholders' equity.

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

                  http://researcharchives.com/t/s?5f0a

                        Chapter 11 Update

On October 2, 2009, the Bankruptcy Court entered its order
approving the Disclosure Statement and establishing the
solicitation and voting procedures for the Debtors' Plan.  The
confirmation hearing on the Debtors' Plan was scheduled for
November 10 and 12, 2009.  The Company's primary lender filed a
Motion for Relief From Automatic Stay Regarding Debtors' Real and
Personal Property on August 15, 2009.  The hearing on this motion
was scheduled to be held in conjunction with the Plan confirmation
hearing on November 10 and 12, 2009.  The Debtors and their
primary lender asked for an extension on November 12, 2009, until
January 7, 2010, in order to work together on a mutually
acceptable plan of reorganization.  In January 2010, the Debtors
and their primary lender reached an agreement and are now working
together on a Joint Plan of Reorganization in which most of the
Debtors assets will be sold to a third party.

The Company says there can be no assurance at this time that the
Company will be able to sell most of its assets to a third party
or that it can restructure as a going concern, that the Joint Plan
or Plan will be confirmed by the Bankruptcy Court, or that any
plan will be implemented successfully.

                       About ILX Resorts

Based in Phoenix, Ariz., ILX Resorts Incorporated
-- http://www.ilxresorts.com/-- develops, markets, and operates
timeshare resorts in the western United States.  The Company's
current portfolio of resorts consists of seven resorts in Arizona,
one in Indiana, one in Colorado, one in San Carlos, Mexico, land
in Puerto Penasco ("Rocky Point"), Mexico and Sedona, Arizona.
The Company also has interests in 2,241 weeks at the Carriage
House in Las Vegas, Nevada, 176 weeks at the Scottsdale Camelback
Resort in Scottsdale, Arizona and 194 weeks in the Roundhouse
Resort in Pinetop, Arizona.

ILX Resorts, Inc., and 15 of its subsidiaries and limited
liability companies filed for voluntary petitions for
reorganization under Chapter 11 of the Bankruptcy Code on March 2,
2009 (Bankr. D. Ariz. Lead Case No. 09-03594).  Judge Redfield T.
Baum presides over the cases.  John J. Hebert, Esq., at Shughart
Thomson & Kilroy, P.C., serves as the Debtors' counsel.  As of
March 31, 2009, ILX Resorts had $71.4 million in total assets
and $42.6 million in total liabilities.


INTEGRA TELECOM: Moody's Assigns 'B2' Rating on $210 Mil. Notes
---------------------------------------------------------------
Moody's Investors Service has assigned a B2 rating to the proposed
$210 million 1st lien senior secured term loan and a B2 rating to
the proposed $500 million 1st lien senior secured note issuance by
Integra Telecom Holdings, Inc., a wholly-owned subsidiary of
Integra Telecom, Inc., the net proceeds from both of which will be
used to refinance existing debt.  In addition, Moody's assigned a
Ba2 rating to Holdings' proposed $60 million 1st lien senior
secured revolving credit facility.  Although all 1st lien secured
credit facilities will share the same collateral, the revolver is
rated higher due to its "first out" clause in the credit
agreement, stipulating priority of payment.

As part of the rating action, Moody's changed the rating outlook
to negative from stable, reflecting the increase in Integra's
financial leverage (Moody's adjusted Debt/EBITDA, including
capitalized operating leases) to over 4.0x proforma for the
transaction, which is above the expected 3.5x leverage level
commensurate with the former B2 Stable rating.  In addition to the
increased leverage, Moody's believes that the company's path to
meaningful free cash flow generation will take longer than
initially anticipated, as the company needs to demonstrate the
turnaround in revenue declines and EBITDA growth amid continuing
economic weakness in its service territories.

Moody's affirmed Integra's B2 Corporate Family Rating and B2
Probability of Default Rating.

This is a summary of Moody's rating actions and current ratings.

Assignments:

Issuer: Integra Telecom Holdings, Inc.

  -- $60M 1st lien First-Out Senior Secured Revolving Credit
     Facility, Assigned Ba2, LGD1 - 1%

  -- $210M 1st lien Last-Out Senior Secured Senior Secured Bank
     Credit Facility, Assigned B2, LGD4 - 53%

  -- $500M 1st lien Last-Out Senior Secured Notes, Assigned B2,
     LGD4 - 53%

Outlook Actions:

Issuer: Integra Telecom Holdings, Inc.

  -- Outlook, Changed To Negative From Stable

The B2 corporate family rating incorporates Integra's improved
credit profile achieved by a significant leverage reduction when
the company eliminated roughly $720 million of debt in November
2009 in exchange for equity.  This resulted in Moody's adjusted
Debt/EBITDA leverage dropping to about 3.2x, from 6.5x prior to
the restructuring.  However, the proposed refinancing will
increase the company's leverage by about 0.8x to about 4.0x in
total, and Moody's continues to be concerned about the impact of
the economy in the Company's service territories, which may delay
the envisioned path to deleveraging and free cash flow growth.  In
addition, competitive pressures are expected to remain high as
Comcast ramps up its commercial telephone offerings and Qwest
follows through on its publicly stated commitment to re-energize
its push to small to medium sized businesses.  Moody's recognizes
the Company's significant progress in turning around the weaker
than expected revenue generation since it acquired Eschelon
Telecom in late 2007.  The Company believes that it has reached a
trough in sales declines and churn, such that combined with cost
containment programs put in place over the past year and the
elimination of fees related to the restructuring it should return
to positive free cash flow generation in 2010.  However, the
higher debt service costs and ramping up of growth initiatives in
the near term are expected to delay meaningful free cash flow
generation until 2012.  Moody's notes that the ratings are
supported by the Company's significant fiber-optic network in the
Pacific Northwest and its management team's long track record of
operating in the competitive telecom arena.

Moody's believes that the Company will have adequate liquidity
over the next four quarters, as it ramps up capital expenditures
over the 2009 levels to grow its business.  The Company expects to
fund the modest free cash flow shortfall with cash on hand.  In
addition, the amended credit agreement gives the Company added
headroom in managing its covenant compliance.

Moody's most recent rating action for Integra was on November 20,
2009, when the rating agency upgraded Integra's CFR to B2 from
Caa1 and PDR to B2 from Ca following the completion of the
Company's debt restructuring program.

Integra is headquartered in Portland, OR, and provides
telecommunications services to small and medium-sized enterprises
and other communications companies.


INTEGRA TELECOM: S&P Puts 'CCC+' Rating on CreditWatch Positive
---------------------------------------------------------------
Standard & Poor's Ratings Services said it placed its 'CCC+'
corporate credit rating on Portland Oregon-based competitive local
exchange carrier Integra Telecom Inc. on CreditWatch with positive
implications.  S&P also assigned a 'CCC+' issue rating and '5'
recovery rating to subsidiary Integra Telecom Holdings Inc.'s
proposed $210 million first-lien bank term loan and its proposed
$500 million secured notes, to be issued under Rule 144A without
registration rights.

S&P also assigned its 'B+' issue rating and '1' recovery rating to
the subsidiary's proposed $60 million secured revolving credit,
with a first-out provision.  Proceeds will be used to repay
indebtedness outstanding under its existing credit facilities and
for general corporate purposes.

"Those issue-level ratings are based on the prospective higher
corporate credit rating," said Standard & Poor's credit analyst
Catherine Cosentino, "which S&P will raise to 'B-' and remove from
CreditWatch upon completion of the financing, since proceeds will
be used to repay existing bank debt." That debt contained
restrictive financial maintenance covenants which S&P believed
would have been difficult for the company to continue to meet on
an ongoing basis.

"The prospective raising of the corporate credit rating to 'B-'
from 'CCC+' will reflect the removal of restrictive financial
maintenance covenants with the refinancing of the existing term
debt," added Ms. Cosentino.  S&P feels cushion under the covenants
in the existing bank loan is currently tight and it might be
difficult for the company to meet these thresholds on an ongoing
basis, especially if Integra experiences execution missteps or
accelerated churn.  While the new bank loan also contains
financial maintenance covenants, S&P's prospective upgrade is
predicated on the presumption that these covenants will be
considerably looser than those in the previous bank agreement,
providing a minimum cushion of 15%.  Moreover, if the company's
revenue trends stabilize or improve in the second half of 2010,
S&P could raise the rating, given Integra's overall financial
profile and expectations that it will continue to operate at
break-even to positive levels of net cash flow after capital
expenditures.


ISHA DEVELOPMENT: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Isha Development, Inc.
        dba Sleep Inn & Suites Fairburn
        1005 Oakley Industrial Blvd.
        Fairburn, GA 30213

Bankruptcy Case No.: 10-70174

Chapter 11 Petition Date: April 5, 2010

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

Debtor's Counsel: Edward F. Danowitz, Jr., Esq.
                  Danowitz & Associates, P.C.
                  300 Galleria Parkway, NW
                  Suite 960
                  Atlanta, GA 30339
                  Tel: (770) 933-0960
                  E-mail: edanowitz@danowitzlegal.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/ganb10-70174.pdf

The petition was signed by Farid Khan, president.


JEFFERSON COUNTY: Most Commission Candidates Reject Bankruptcy
--------------------------------------------------------------
Barnett Wright at The Birmingham News reports that most candidates
seeking to replace two Jefferson County commissioners believe
bankruptcy is not a viable option to solve the county's sewer debt
crisis.  Birmingham News says if those candidates win, it could
almost guarantee a negotiated settlement between the county and
creditors over the $3.2 billion sewer debt.

Birmingham News relates a record 34 people are running for the
commission in the June 1 primary election, including for seats now
held by current GOP Commissioners Bobby Humphryes and Jim Carns,
both of whom have said they favor a Chapter 9 filing.  Mr.
Humphryes is seeking a second term in District 3.  Mr. Carns is
not seeking re-election in District 5.

                        About Jefferson County

Jefferson County has its seat in Birmingham, Alabama.  It has a
population of 660,000.  It ended its 2006 fiscal year with a
$42.6 million general fund balance, according to Standard &
Poor's.  The Birmingham firm of Bradley Arant Rose & White,
represents Jefferson County.  Porter, White & Co. in Birmingham is
the county's financial adviser.  A bankruptcy by Jefferson County
stands to be the largest municipal bankruptcy in U.S. history.  It
could beat the record of $1.7 billion, set by Orange County,
California in 1994.

As reported by the TCR on July 24, 2009, Moody's Investors Service
has affirmed the Caa3 rating and negative outlook on Jefferson
County's (Alabama) outstanding $3.2 billion sewer revenue bonds.
Moody's underlying Caa3 rating reflects the likelihood of eventual
repayment by the county of principal, irrespective of outside
enhancement through bond insurance.  It does not reflect the
claims paying ability of Syncora, which is rated Ca and failed to
fulfill its obligation to make a July 1 Bank Bond principal
payment.


JERRY HERLING: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Jerry Herling Construction, Inc.
        300 S. Highland Springs Avenue, Suite 6C PMB 128
        Banning, CA 92220

Bankruptcy Case No.: 10-20032

Chapter 11 Petition Date: April 5, 2010

Court: U.S. Bankruptcy Court
       Central District of California (Riverside)

Judge: Deborah J. Saltzman

Debtor's Counsel: Lazaro E. Fernandez, Esq.
                  3600 Lime Street, Suite 614
                  Riverside, CA 92501
                  Tel: (951) 684-4474
                  Fax: (951) 684-4625
                  E-mail: lef17@pacbell.net

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

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

A copy of the Company's list of 20 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/cacb10-20032.pdf

The petition was signed by Jerry Herling, president.


JARAE PROPERTIES: Case Summary & Unsecured Creditor
---------------------------------------------------
Debtor: Jarae Properties, LLC
        31630 Second Avenue
        Laguna Beach, CA 92651

Bankruptcy Case No.: 10-14366

Chapter 11 Petition Date: April 5, 2010

Court: U.S. Bankruptcy Court
       Central District of California (Santa Ana)

Judge: Theodor Albert

Debtor's Counsel: Arthur F. Stockton, Esq.
                  Stockton Law Offices
                  8655 E. Via De Ventura Suite G200
                  Scottsdale, AZ 85258
                  Tel: (866) 682-8766
                  Fax: (866) 207-4082
                  E-mail: art@stocktonlawoffices.com

Estimated Assets: $0 to $50,000

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

A copy of the Company's list of 1 largest unsecured creditor filed
together with the petition is available for free at
http://bankrupt.com/misc/cacb10-14366.pdf

The petition was signed by Susan P. Harper, for Managing Member E-
CITYMERCHANTS.COM, LLC.


KMART CORP: Appeals Court Clears Sears et al From Shareholder Suit
------------------------------------------------------------------
Reuters reports that the U.S. Second Circuit Court of Appeals in
Manhattan on Tuesday affirmed a lower court' decision and held
that Sears Holdings Corp., its billionaire Chairman Edward
Lampert, and one-time Kmart Chief Executive Julian Day are not
liable to former Kmart Holding Corp. shareholders who accused that
retailer of trying to drive down Kmart's stock price to let
executives buy shares cheaply.

Mr. Lampert acquired a controlling stake in Kmart and became
chairman when it emerged from bankruptcy in 2003.  Kmart then
merged with Sears Roebuck & Co. in 2005 to form Sears Holdings.

Reuters recalls the class action alleges that Kmart deliberately
understated the value of its real estate assets by several billion
dollars, to give Messrs. Lampert and Day a chance to acquire Kmart
shares at less than their true worth.  The plaintiffs allege that
when Kmart then sold some of the real estate to Home Depot Inc.
and Sears Roebuck, its shares soared, giving it more ammunition to
buy Sears.  The plaintiffs contended that because they were not
told what the real estate was really worth, they sold their Kmart
shares at artificially low prices.

According to Reuters, the appellate court held that the plaintiffs
failed to show that Messrs. Lampert and Day intended to deceive or
defraud them.  According to Reuters, the appellate court said any
desire of the executives to acquire stock at artificially low
prices could not have motivated them to understate the value of
Kmart real estate, given that they had negotiated the terms of
their stock options well in advance.  "Lampert and Day's only
economically rational motive would have been to disclose any
information that might increase the company's stock price," the
court said, according to Reuters.

The lead plaintiffs in the case are the Plumbers and Pipefitters
National Pension Fund, the Mississippi Public Employees'
Retirement System, and an individual, Fred Campo.  The case is
Campo et al v. Sears Holdings Corp et al, U.S. Court of Appeals
for the Second Circuit, No. 09-3589.

Reuters says Jay Eisenhofer, Esq., a lawyer for the plaintiffs,
was not immediately available for comment.  Sears had no immediate
comment.

Kmart Corporation is a predecessor operating company of Kmart
Holding.  In January 2002, Kmart Corp. and 37 of its U.S.
subsidiaries filed voluntary petitions for reorganization under
Chapter 11 of the federal bankruptcy laws.  The Debtors emerged
from bankruptcy on May 6, 2003, pursuant to the terms of an
Amended Joint Plan of Reorganization.  Kmart completed its merger
with Sears, Roebuck and Co. on March 24, 2005.


KAO PROPERTIES: Case Summary & 3 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: KAO Properties, Inc.
        P.O. Box 865054
        Plano, TX 75086

Bankruptcy Case No.: 10-41092

Chapter 11 Petition Date: April 5, 2010

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

Judge: Not Available

Debtor's Counsel: Joyce W. Lindauer, Esq.
                  8140 Walnut Hill Lane
                  Suite 301
                  Dallas, TX 75231
                  Tel: (972) 503-4033
                  Fax: (972) 503-4034
                  E-mail: courts@joycelindauer.com

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

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

A list of the Company's 3 largest unsecured creditors is available
for free at http://bankrupt.com/misc/txeb10-41092.pdf

The petition was signed by James Chen, President.


LEHMAN BROTHERS: Oversight Board Launches Probe on Ernst & Young
----------------------------------------------------------------
Charles Gasparino at FOX Business says pressure on accounting firm
Ernst & Young continues to grow as an oversight board, created
under the Sarbanes-Oxley accounting reform act of 1992, launches
an investigation into the firm's role in Lehman Brothers'
bankruptcy.

FOX Business relates the Public Company Accounting Oversight
Board, which can investigate and discipline public accounting
firms, has launched an inquiry into Ernst & Young following the
Lehman bankruptcy examiner's report that accused the firm of
"professional malpractice" in its approval of a controversial
accounting technique used by Lehman as it slid into insolvency.
The technique known as Repo 105 helped mask the deteriorating
nature of Lehman's balance sheet.

FOX Business notes that the oversight's board inquiry is yet the
latest investigation to hit Ernst & Young over its role as
Lehman's auditor, which was highlighted in the report issued by
Lehman bankruptcy examiner Anton Valukas last month.  FOX Business
relates the Securities and Exchange Commission and U.K. regulators
are looking at Ernst & Young's activities.

FOX Business says Charles Perkins, a spokesman for Ernst & Young,
has vehemently denied that the firm has done anything wrong.  He
didn't return calls for comment. A spokeswoman for the oversight
board had no comment, FOX Business says.

                         Examiner's Report

As reported by the Troubled Company Reporter, Judge James Peck of
the U.S. Bankruptcy Court for the Southern District of New York
unsealed on March 11, 2010, the 2,200-page report summarizing the
results of the investigation conducted by Anton Valukas, the
Court-appointed Chapter 11 examiner in the bankruptcy cases of
Lehman Brothers.

In summary, the Examiner noted that after Bear Stearns' demise in
2007, Lehman was widely considered to be the next bank that might
fail, and investor and client confidence was eroding.  He said
Lehman pursued a number of strategies to avoid demise but to buy
itself more time, to maintain that critical confidence, Lehman
painted a misleading picture of its financial condition.

At the end of the second quarter of 2008, as Lehman was forced to
announce a quarterly loss of $2.8 billion -- resulting from a
combination of write-downs on assets, sales of assets at losses,
decreasing revenues, and losses on hedges -- it sought to cushion
the bad news by trumpeting that it had significantly reduced its
net leverage ratio to less than 12.5, that it had reduced the net
assets on its balance sheet by $60 billion, and that it had a
strong and robust liquidity pool.  The Examiner, however, found
that Lehman did not disclose that it had been using an accounting
device, known within Lehman as "Repo 105," to manage its balance
sheet -- by temporarily removing approximately $50 billion of
assets from the balance sheet at the end of the first and second
quarters of 2008.  With Repo 105 transactions, Lehman's reported
net leverage was 12.1 at the end of the second quarter of 2008;
but if Lehman had used ordinary repos, net leverage would have to
have been reported at 13.9.

The Examiner also found that Lehman did not disclose its use --
or the significant magnitude of its use -- of Repo 105 to the
U.S. Government, to the rating agencies, to its investors, or to
its own Board of Directors.  Lehman's auditors, Ernst & Young,
were aware of this but did not question the company's use and
nondisclosure of the Repo 105 accounting transactions, the
Examiner revealed.

As late as September 10, 2008, Lehman publicly announced that its
liquidity pool was approximately $40 billion; but a substantial
portion of that total was in fact encumbered or otherwise
illiquid, the Examiner related.  By September 12, two days after
it publicly reported a $41 billion liquidity pool, the pool
actually contained less than $2 billion of readily monetizable
assets, he added.

According to the report, "Lehman failed because it was unable to
retain the confidence of its lenders and counterparties and
because it did not have sufficient liquidity to meet its current
obligations."

The Examiner concluded that while certain of Lehman's risk
decisions can be described in retrospect as poor judgment, they
were within the business judgment rule and do not give rise to
colorable claims against the senior officers who oversaw and
certified misleading financial statements."

The Examiner, however, found colorable claims against Richard
Fuld, Jr., former chief executive officer of Lehman; Christopher
O'Meara, former chief financial officer, controller and executive
vice president; Erin Callan, former chief financial officer and
global controller; and Ian Lowitt, co-chief administrator, in
connection with their failure to disclose the use of the practice
and against Ernst & Young for its failure to meet professional
standards in connection with that lack of disclosure.  The
Examiner also found colorable claims against JPMorgan Chase and
CitiBank in connection with modifications of guaranty agreements
and demands for collateral in the final days of Lehman's
existence.  The demands for collateral by Lehman's Lenders had
direct impact on Lehman's liquidity pool; Lehman's available
liquidity is central to the question of why Lehman failed, he
said.

Mr. Valukas spent more than a year and $38 million to investigate
the events surrounding Lehman's downfall.

A 17-part copy of the Examiner Report is available for free at:

              http://bankrupt.com/misc/Volume1.pdf
              http://bankrupt.com/misc/Volume2.pdf
              http://bankrupt.com/misc/Volume3.pdf
              http://bankrupt.com/misc/Volume4.pdf
              http://bankrupt.com/misc/Volume5.pdf
              http://bankrupt.com/misc/Volume6.pdf
              http://bankrupt.com/misc/Volume7.pdf
              http://bankrupt.com/misc/Volume8.pdf
              http://bankrupt.com/misc/Volume9.pdf
              http://bankrupt.com/misc/Volume10.pdf
              http://bankrupt.com/misc/Volume11.pdf
              http://bankrupt.com/misc/Volume12.pdf
              http://bankrupt.com/misc/Volume13.pdf
              http://bankrupt.com/misc/Volume14.pdf
              http://bankrupt.com/misc/Volume15.pdf
              http://bankrupt.com/misc/Volume16.pdf
              http://bankrupt.com/misc/Volume17.pdf

                      About Lehman Brothers

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

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

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

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

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

               International Operations Collapse

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

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

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


LOS ANGELES, CALIF: Faces $10-Mil. Shortfall by May 5
-----------------------------------------------------
The Wall Street Journal's Peter Sanders reports that Los Angeles
City Controller Wendy Greuel warned this week that the city's
general fund could run out of money and fall $10 million into the
red by May 5 unless the Los Angeles Department of Water & Power
transfers a planned $73.5 million payment it has so far said it
would withhold.  According to the Journal, without the payment,
the city would need to dip into its reserve fund, leaving that
contingency dangerously low in the event of other emergencies.

The Journal relates that the Los Angeles utility, the nation's
largest municipal utility, said it wasn't making the payment
because the city council earlier this month failed to approve
substantial increases in electricity rates.  The Journal reports
that utility officials say they need those higher rates to help
cover the costs of investing in renewable energy, such as wind and
solar, that are mandated by state and municipal laws.

According to the Journal, the utility is an influential entity in
its own right, with an annual budget of $4.2 billion, 8,600
employees and massive landholdings throughout Southern California.
It makes periodic payments to the city in lieu of taxes and
franchise fees.

The Journal also notes that the utility's move has kicked off a
fight that already has had negative repercussions for the city.
On Wednesday, the Journal relates, rating firm Moody's Corp. cut
its ratings on some $3.2 billion of Los Angeles general obligation
bonds by one notch, reflecting "continued erosion of the city's
historically better-than-average willingness and ability to
quickly rebalance its budget mid-year."  The ratings firm warned
that by the end of Los Angeles' fiscal year on June 30, general
fund reserves "could be materially weaker than we had previously
expected" because of the squabble with the utility.


LYDIA CLADEK: Involuntary Chapter 11 Case Summary
-------------------------------------------------
Alleged Debtor: Lydia Cladek, Inc.
                108 Seagrove Main Street
                St. Augustine, FL 32080

Case Number: 10-02800

Involuntary Chapter 11 Petition Date: April 2, 2010

Court: U.S. Bankruptcy Court
       Middle District of Florida (Jacksonville)

Petitioners' Counsel: Jacob A Brown, Esq.
                      Akerman Senterfitt
                      50 North Laura Street, Suite 2500
                      Jacksonville, FL 32202
                      Tel: (904) 798-3700
                      Fax: (904) 798-3730
                      E-mail: jacob.brown@akerman.com

Debtor's Counsel: Pro Se

Creditors that signed the Chapter 11 petition:

Petitioners               Nature of Claim      Claim Amount
-----------               ---------------      ------------
Robert Mengarelli          Obligation under     $90,165
1397 Fryston St            Matured Promissory
St Johns, FL 32259         Note

Mike Castelaz              Promissory Note      $52,000
2371 Woodglen Dr
Aurora, IL 60502

John Castelaz              Promissory Note      $17,500
1124 Fox Ridge Lane
Aurora, IL 60502

Robin Ponte                Promissory Note      $103,000
1954 Havenshire
Aurora, IL 60502

RAD Management Co.         Promissory Note      $1,600,000
PO Box 590
St. Augustine, FL 32085

The Donald N. Radbill      Promissory Note      $100,000
Living Trust
PO Box 590
St. Augustine, FL 32085

Jean Clancy                Promissory Note      $25,012
16108 Harbour Vista Cir
St. Augustine, FL 32080

Charlotte E. Sears         Promissory Note      $114,102
Living Trust
Dated May 1, 1993
157 Marine St
Unit 206
St. Augustine, FL 32084

Betty Ponce                Promissory Note      $187,000
166 Herons Nest Ln
St. Augustine, FL 32080

Yanet Pantaleon            Promissory Note      $100,000
166 Herons Nest Ln
St. Augustine, FL 32080

John Bristow               Promissory Note      $59,646
15418 W. Fair Lane
Libertyville, IL 60048

Curb Systems of NE FL      Promissory Note      $75,000
6370 US Hwy 1 N
Bldg 8
St. Augustine, FL 32095

Gary Alligood              Promissory Note      $550,000
115 Sunset Harbor Way
#C202
St. Augustine, FL 32080

Malcolm Alligood           Promissory Note      $50,000
115 Sunset Harbor Way
#C202
St. Augustine, FL 32080

Jill Rand                  Promissory Note      $106,032
12710 Del Rio
Jacksonville, FL 32258

Caroline S. Fortner        Promissory Note      $110,000
Trustee of the George
W. Fortner Credit Trust
3123 S. Ponte Vedra Blvd
Ponte Vedra Beach, FL 32082

David A. Hall                                   $50,000
14736 Grassy Hole Ct
Jacksonville, FL 32258

M. Bruce Hall                                   $800,000
3123 S. Ponte Vedra Blvd.
Ponte Vedra Beach, FL 32082

Claudia Hundsdorfer-Abae                        $99,846
7 Sunset Ridge
Jericho, VT 05465
                                                ----------
      TOTAL                                     $4,289,303


LYDIA CLADEK: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: Lydia Cladek, Inc.
        108 Seagrove Main Street
        St. Augustine, FL 32080

Bankruptcy Case No.: 10-02805

Chapter 11 Petition Date: April 5, 2010

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

Judge: Paul M. Glenn

Debtor's Counsel: Lawrence Lilly, Esq.
                  336 Redwing Lane
                  St. Augustine, FL 32080-7979

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

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

The petition was signed by Lydia Cladek, the company's president.

Debtor's List of 8 Largest Unsecured Creditors:

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Noel & Bennett Gell        Contract              $1,000,000
9075 June Lane
St. Augustine, FL 3200

C.L. Anderson              Contract              $1,000,000
1331 First Street North
Jacksonville, FL 32250

Edward Cladek              Contract              $1,000,000
P.O. Box 183
Hinsdale, IL 60522-0183

Richard Rakus              Contract              $1,000,000
876 Palermo Road
St. Augustine, FL 32086

Rudolph Danowski           Contract              $1,000,000
127 Hogsback Road
Oxford, CT

Charles A. Mandeville      Contract              $1,000,000
2942 N. Shell Road
Deland, FL 32720

Donald Rodbill             Contract              $1,000,000
222 N. Forest Dune Drive
St. Augustine, FL 32080

Terry & Hollace Lichty     Contract              $1,000,000


MAGUIRE PROPERTIES: Balyasny Funds Hold 6.51% of Common Stock
-------------------------------------------------------------
Cayman Islands-based Atlas Master Fund, LTD., Chicago-based
Balyasny Asset Management LLC, Dmitry Balyasny, as sole managing
member of the general partner of BAM, and various affiliated funds
disclosed that as of December 31, 2009, they may be deemed to
beneficially own in the aggregate 3,119,452 shares or roughly
6.51% of the common stock of Maguire Properties, Inc.

A full-text copy of Balyasny disclosure is available at no charge
at http://ResearchArchives.com/t/s?5f03

                   About Maguire Properties, Inc.

Maguire Properties, Inc. (NYSE: MPG) --
http://www.maguireproperties.com/-- is the largest owner and
operator of Class A office properties in the Los Angeles central
business district and is primarily focused on owning and operating
high-quality office properties in the Southern California market.
Maguire Properties, Inc. is a full-service real estate company
with substantial in-house expertise and resources in property
management, marketing, leasing, acquisitions, development and
financing.

The Company's balance sheet at Dec. 31, 2009, revealed
$3.6 billion in total assets and $4.5 billion in total liabilities
for a $856.9 million total stockholders' deficit.


MAGUIRE PROPERTIES: David Tepper's Appaloosa Holds 8.97% of Shares
------------------------------------------------------------------
David A. Tepper's Appaloosa Investment Limited Partnership I,
Palomino Fund Ltd., Thoroughbred Fund L.P., Thoroughbred Master
Ltd., Appaloosa Management L.P., and Appaloosa Partners Inc.
disclosed that as of December 31, 2009, they may be deemed to
beneficially own in the aggregate 4,300,000 shares or roughly
8.97% of the common stock of Maguire Properties, Inc.

                   About Maguire Properties, Inc.

Maguire Properties, Inc. (NYSE: MPG) --
http://www.maguireproperties.com/-- is the largest owner and
operator of Class A office properties in the Los Angeles central
business district and is primarily focused on owning and operating
high-quality office properties in the Southern California market.
Maguire Properties, Inc. is a full-service real estate company
with substantial in-house expertise and resources in property
management, marketing, leasing, acquisitions, development and
financing.

The Company's balance sheet at Dec. 31, 2009, revealed
$3.6 billion in total assets and $4.5 billion in total liabilities
for a $856.9 million total stockholders' deficit.


MAGUIRE PROPERTIES: Former CEO Sells Off Shares; Has 9.8% Stake
---------------------------------------------------------------
Robert F. Maguire III, founder and former CEO of Maguire
Properties, Inc., from January 29, 2010, through March 11, 2010,
disposed of 4,048,153 shares of the Company's Common Stock held by
him in open market transactions in the New York Stock Exchange.
From January 29, 2010, through February 12, 2010, Mr. Maguire sold
618,255 shares.

In the January and February transactions, the shares were sold
between $1.47 and $1.69 per share.  In the March transactions, the
shares were sold between $1.60 and $2.53 per share.

As of March 11, 2010, Mr. Maguire held 5,216,946 shares or roughly
9.8% of the Company's common stock.  The stake represents
5,216,946 limited partnership units -- OP Units -- of Maguire
Properties that are redeemable by Mr. Maguire for an equal number
of shares of common stock of Maguire Properties.  Mr. Maguire also
owns an additional 1,331,937 OP Units that are not currently
redeemable for shares of common stock of the Company.  Under the
terms of the Company's charter, Mr. Maguire may not beneficially
own more than 9.8% of the Company's outstanding common stock.  The
Maguire OP agreement of limited partnership in turn prohibits Mr.
Maguire from redeeming OP Units of Maguire OP if such redemption
would cause Mr. Maguire to beneficially own an amount of common
stock in excess of the Ownership Limit.

The OP Units beneficially owned by Mr. Maguire, excluding 220,000
OP Units beneficially owned by Mr. Maguire, are pledged to
Wachovia Bank, N.A., as a portion of the collateral securing a
personal loan made by Wachovia to Mr. Maguire.  The loan matures
on July 15, 2011, unless it is retired earlier.  If an event of
default occurs and is not cured or waived, Wachovia could
foreclose on its collateral, including the OP Units that are
pledged.

Mr. Maguire said the shares of Common Stock and OP Units were
acquired primarily for investment purposes.  Mr. Maguire regularly
reviews and evaluates strategies with respect to his various
investments, including his investment in the Company.  As a
consequence of the review, evaluation and other factors that Mr.
Maguire deems relevant, he may consider various alternatives which
may ultimately lead to one or more possible transactions with
respect to his investment in the Company.

A full-text copy of Mr. Maguire's disclosure is available at no
charge at http://ResearchArchives.com/t/s?5f02

                   About Maguire Properties, Inc.

Maguire Properties, Inc. (NYSE: MPG) --
http://www.maguireproperties.com/-- is the largest owner and
operator of Class A office properties in the Los Angeles central
business district and is primarily focused on owning and operating
high-quality office properties in the Southern California market.
Maguire Properties, Inc. is a full-service real estate company
with substantial in-house expertise and resources in property
management, marketing, leasing, acquisitions, development and
financing.

The Company's balance sheet at Dec. 31, 2009, revealed $3.6
billion in total assets and $4.5 billion in total liabilities for
a $856.9 million total stockholders' deficit.


MAGUIRE PROPERTIES: Scoggin Capital et al., Disclose Equity Stake
-----------------------------------------------------------------
Cayman Islands-based Scoggin Capital Management II LLC, Scoggin
International Fund, Ltd., Scoggin Worldwide Fund, Ltd., Old Bell
Associates LLC, A. Dev Chodry, Scoggin LLC, Craig Effron and
Curtis Schenker disclosed holding shares of Maguire Properties,
Inc. common stock.

As of December 31, 2009, Scoggin Capital Management II may be
deemed to beneficially own 1,000,000 or roughly 2.1% of the
Company shares.  Scoggin International Fund held 1,440,000 or
roughly 3.0% of the Company shares.

Scoggin Worldwide Fund, Old Bell Associates and A. Dev Chodry may
be deemed to beneficially own 120,000 or roughly 0.2% of the
Company shares.

Scoggin LLC may be deemed to beneficially hold 2,520,000 or
roughly 5.2% of the Company shares.  Craig Effron may be deemed to
beneficially own 2,765,000 or roughly 5.8% of the Company shares.
Curtis Schenker may be deemed to hold 2,657,500 or roughly 5.5% of
the Company shares.

Scoggin LLC is the investment manager of Scoggin Capital
Management II and Scoggin International Fund, Ltd.  Craig Effron
and Curtis Schenker are the managing members of Scoggin LLC.

Old Bellows Partners is the investment manager of Scoggin
Worldwide Fund.  The general partner of Old Bellows Partners LP is
Old Bell Associates LLC.  A. Dev Chodry is a principal of Old
Bellows Partners LP.  Scoggin LLC is a principal of Old Bellows
Partners LP and serves as investment sub-manager for equity and
event-driven investing for Scoggin Worldwide Fund.

                   About Maguire Properties, Inc.

Maguire Properties, Inc. (NYSE: MPG) --
http://www.maguireproperties.com/-- is the largest owner and
operator of Class A office properties in the Los Angeles central
business district and is primarily focused on owning and operating
high-quality office properties in the Southern California market.
Maguire Properties, Inc. is a full-service real estate company
with substantial in-house expertise and resources in property
management, marketing, leasing, acquisitions, development and
financing.

The Company's balance sheet at Dec. 31, 2009, revealed
$3.6 billion in total assets and $4.5 billion in total liabilities
for a $856.9 million total stockholders' deficit.


MAGUIRE PROPERTIES: Vanguard Group Holds 3.47% of Common Stock
--------------------------------------------------------------
The Vanguard Group, Inc., disclosed that as of December 31, 2009,
it may be deemed to beneficially own 1,667,976 shares or roughly
3.47% of the common stock of Maguire Properties, Inc.

                   About Maguire Properties, Inc.

Maguire Properties, Inc. (NYSE: MPG) --
http://www.maguireproperties.com/-- is the largest owner and
operator of Class A office properties in the Los Angeles central
business district and is primarily focused on owning and operating
high-quality office properties in the Southern California market.
Maguire Properties, Inc. is a full-service real estate company
with substantial in-house expertise and resources in property
management, marketing, leasing, acquisitions, development and
financing.

The Company's balance sheet at Dec. 31, 2009, revealed
$3.6 billion in total assets and $4.5 billion in total liabilities
for a $856.9 million total stockholders' deficit.


MAGUIRE PROPERTIES: Wesley Capital No Longer Holds Shares
---------------------------------------------------------
Wesley Capital Management, LLC, Arthur Wrubel and John Khoury
disclosed that as of December 31, 2009, they no longer held shares
of Maguire Properties, Inc. common stock.

The Management Company serves as investment manager or advisor of
the Funds.

                   About Maguire Properties, Inc.

Maguire Properties, Inc. (NYSE: MPG) --
http://www.maguireproperties.com/-- is the largest owner and
operator of Class A office properties in the Los Angeles central
business district and is primarily focused on owning and operating
high-quality office properties in the Southern California market.
Maguire Properties, Inc. is a full-service real estate company
with substantial in-house expertise and resources in property
management, marketing, leasing, acquisitions, development and
financing.

The Company's balance sheet at Dec. 31, 2009, revealed
$3.6 billion in total assets and $4.5 billion in total liabilities
for a $856.9 million total stockholders' deficit.


MANAGEMENT SERVICES: Voluntary Chapter 11 Case Summary
------------------------------------------------------
Debtor: Management Services, Inc.
        520 Main Street
        W. Newbury, MA 01985

Bankruptcy Case No.: 10-13556

Chapter 11 Petition Date: April 2, 2010

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

Judge: Frank J. Bailey

Debtor's Counsel: John F. Davis, Esq.
                  900 Cummings Center
                  Suite 207T
                  Beverly, MA 01915
                  Tel: (978) 232-9640
                  Fax: (978) 232-9644
                  E-mail: john@jfdesq.com

Estimated Assets: $50,001 to $100,000

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

The Debtor did not file a list of its largest unsecured creditors
together with its petition.

The petition was signed by Denise M. Dennis, president.


MARSH HAWK: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Marsh Hawk Golf Club, LLC
          aka Ford's Colony Country Club
        240 Ford's Colony Drive
        Williamsburg, VA 23188

Bankruptcy Case No.: 10-50632

Chapter 11 Petition Date: April 1, 2010

Court: United States Bankruptcy Court
       Eastern District of Virginia (Newport News)

Judge: Not Available

Debtor's Counsel: Ross C. Reeves
                  Willcox & Savage, P.C.
                  1800 Bank of America Center
                  Norfolk, VA 23510
                  Tel: (757) 628-5545
                  E-mail: rreeves@wilsav.com

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

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

The petition was signed by Mike Tiernan, VP of Ford's Colony
Country Club.

Debtor-affiliate that filed a separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
  Ford's Colony Country Club, Inc.     10-50633   4/1/10
   Assets: $1-mil. to $10-mil.
   Debts: $1-mil. to $10-mil.

A. Marsh Hawk Golf Club's List of 20 Largest Unsecured Creditors:

   Entity                        Nature of Claim     Claim Amount
   ------                        ---------------     ------------
RC Agronomic Solutions           --                  $42,896
dba The Tom Rash Company
14112 Dorsetshire Court
Midlothian, VA 23113

Textron Financial                --                  $34,505
Dept AT 40219
Atlanta, GA 31192

Virginia Food Service Group      --                  $26,413
7422 Ranco Road
PO Box 28010
Henrico, VA 23228

GE Capital                       --                  $18,775

James River Air Conditioning     --                  $17,551

Lesco/John Deere Landscape       --                  $15,946

James City County Treasurer      --                  $11,459

Footjoy                          --                  $8,444

Callaway Golf Company            --                  $7,795

Smith Turf & Irrigation          --                  $7,550

Titleist                         --                  $7,705

Tournament Solutions LLC         --                  $7,500

Davis-Garvin Agency, Inc.        --                  $6,739

Witt Mares                       --                  $6,230

Waterside Fish & Produce         --                  $6,088


VSC Fire & Security Inc.         --                  $6,078

Virginia Linen Service           --                  $5,630

Grand Metro Builders Inc.        --                  $4,934

Virginia State Golf Associatio   --                  $4,750

Danforth Pewter                  --                  $4,580

B. Ford's Colony's List of 20 Largest Unsecured Creditors:

   Entity                        Nature of Claim     Claim Amount
   ------                        ---------------     ------------
SunTrust Bank                    --                  $250,000
c/o Richard Biemiller
301 Bendix Road, Suite 500
Virginia Beach, VA 23452
SunTrust Bank
c/o Richard Biemiller
301 Bendix Road, Suite 500
Virginia Beach, VA 23452

William Woods                    --                  $60,000
429A Bromley Place
Wyckoff, NJ 07481

Michael Grimes                   --                  $45,000
104 Perdido
Williamsburg, VA 23188

GE Capital                       --                  $21,069

Desloover                        --                  $19,800

BB&T of Virginia Business        --                  $16,896

David Jarman                     --                  $10,000

David Myers                      --                  $10,000

Arthur Gillespie                 --                  $10,000

Barry and Deborah Hammond        --                  $10,000

Douglas Hotard                   --                  $10,000

F. Thomas Hughes                 --                  $10,000

James and Dorothy Jacobsen       --                  $10,000

John and Rosario Robbins         --                  $10,000

Leonard and Elizabeth Ward       --                  $10,000

Mr. and Mrs. Arnold Kamm         --                  $10,000

Raymond and Ruth Ann             --                  $10,000

Richard and Ann Paroubek         --                  $10,000

Richard and Sally Smith          --                  $10,000

The Clair S. Suslick Trust       --                  $10,000


MARTIN ALMANZAN: Case Summary & 3 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Martin Almazan
        2621 S. Gardenia
        Pharr, TX 78577

Bankruptcy Case No.: 10-70253

Chapter 11 Petition Date: April 3, 2010

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

Judge: Richard S. Schmidt

Debtor's Counsel: J Francisco Tinoco, Esq.
                  Law Office of J.F. Tinoco
                  822 Del Oro
                  Pharr, TX 78577
                  Tel: (956) 283-9200
                  Fax: (956) 797-0953
                  E-mail: tinoco@sotxlaw.com

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

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

A list of the Company's 3 largest unsecured creditors is available
for free at:

             http://bankrupt.com/misc/txsb10-70253.pdf

The petition was signed by (Not Available)


MARY LIEBL: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Mary K. Liebl
          Aka Mary Liebl
        729 E. Irvine Road
        Phoenix, AZ 85086

Bankruptcy Case No.: 10-09757

Chapter 11 Petition Date: April 5, 2010

Court: U.S. Bankruptcy Court
       District of Arizona (Phoenix)

Judge: Randolph J. Haines

Debtor's Counsel: Nasser U. Abujbarah, Esq.
                  The Law Offices of Nasser U. Abujbarah
                  7025 E. McDowell Road, Suite 9
                  Scottsdale, AZ 85257
                  Tel: (480) 776-6846
                  Fax: (480) 776-6847
                  E-mail: nasser@nualegal.com

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

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

According to the schedules, the Debtor says that assets total
$570,398 while debts total $1,759,145.

A copy of the Debtor's list of 20 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/azb10-09757.pdf

The petition was signed by the Debtor.


MCKINNEY WILLOW: Case Summary & 6 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: McKinney Willow Wood, L.P.
        6514 Tulip Lane
        Dallas, TX 75230

Bankruptcy Case No.: 10-41088

Chapter 11 Petition Date: April 5, 2010

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

Debtor's Counsel: Eric A. Liepins, Esq.
                  12770 Coit Road
                  Suite 1100
                  Dallas, TX 75251
                  Tel: (972) 991-5591
                  E-mail: eric@ealpc.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/txeb10-41088.pdf

The petition was signed by Steven Topletz, managing member of
General Partner.


MDB PROPERTIES: Case Summary & Unsecured Creditor
-------------------------------------------------
Debtor: MDB Properties, LLC
        2115 Hillview Drive
        Laguna Beach, CA 92651

Bankruptcy Case No.: 10-14368

Chapter 11 Petition Date: April 5, 2010

Court: U.S. Bankruptcy Court
       Central District of California (Santa Ana)

Judge: Robert N. Kwan

Debtor's Counsel: Arthur F. Stockton, Esq.
                  Stockton Law Offices
                  8655 E. Via De Ventura Suite G200
                  Scottsdale, AZ 85258
                  Tel: (866) 682-8766
                  Fax: (866) 207-4082
                  E-mail: art@stocktonlawoffices.com

Estimated Assets: $0 to $50,000

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

A copy of the Company's list of 1 largest unsecured creditor filed
together with the petition is available for free at
http://bankrupt.com/misc/cacb10-14368.pdf

The petition was signed by Michael VanRiette, managing member.


MEGA PROFESSIONAL: Case Summary & 15 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Mega Professional, Inc.
          dba Press Box Sports Bar & Grill
          dba Sushi Agoura
        480 N Glassell St.
        Anaheim, CA 92806-2813

Bankruptcy Case No.: 10-14271

Chapter 11 Petition Date: April 2, 2010

Court: United States Bankruptcy Court
       Central District Of California (Santa Ana)

Judge: Erithe A. Smith

Debtor's Counsel: John Eom, Esq.
                  Law Office of John Eom
                  3700 Wilshire Boulevard, Suite 745
                  Los Angeles, CA 90010
                  Tel: (213) 387-1300
                  Fax: (213) 387-2300
                  E-mail: jjeom2000@yahoo.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 15 largest unsecured creditors is
available for free at http://bankrupt.com/misc/cacb10-14271.pdf

The petition was signed by Bryan Kahng, secretary.


MICHAEL BRIGGS: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Joint Debtor: Michael W. Briggs
              Emma L. Briggs
              4017 Prestonwood Drive
              Carrollton, TX 75101

Bankruptcy Case No.: 10-41046

Chapter 11 Petition Date: 10-41046

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

Debtor's Counsel: Joyce W. Lindauer, Esq.
                  8140 Walnut Hill Lane
                  Suite 301
                  Dallas, TX 75231
                  Tel: (972) 503-4033
                  Fax: (972) 503-4034
                  E-mail: courts@joycelindauer.com

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

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

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

The petition was signed by Michael W. Briggs and Emma L. Briggs.


MOUNTAIN RESORT: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: Mountain Resort Properties, LLC
        747 Business Park Avenue, Suite 218
        San Diego, CA 92131

Bankruptcy Case No.: 10-17709

Chapter 11 Petition Date: April 5, 2010

Court: U.S. Bankruptcy Court
       District of Colorado (Denver)

Judge: Sidney B. Brooks

Debtor's Counsel: F. Kelly Smith, Esq.
                  216 16th Street, Suite 1210
                  Denver, CO 80202
                  Tel: (303) 592-1650
                  Fax: (303) 592-1701
                  E-mail: fkellysmith@tde.com

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

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

The Debtor did not file a list of creditors together with its
petition.

The petition was signed by Barry Minkow, managing member.


MUNDYS MILL: Case Summary & 2 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Mundys Mill Academy LLC
        6120 Montlake Avenue
        McDonough, GA 30252

Bankruptcy Case No.: 10-69690

Chapter 11 Petition Date: April 2, 2010

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

Debtor's Counsel: Kenneth Mitchell, Esq.
                  Giddens, Davidson & Mitchell P.C.
                  Suite 300-B
                  5000 Snapfinger Woods Drive
                  Decatur, GA 30034
                  Tel: (770) 987-7007
                  Fax: (770) 987-7138
                  E-mail: kmitchell@gdmpclaw.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 2 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ganb10-69690.pdf

The petition was signed by Antonio Hurt, managing member.


N & S HOSPITALITY: Case Summary & 11 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: N & S Hospitality Group, Inc.
          dba Super 8 Sea World Medical Center
        5336 Wurzbach Road
        San Antonio, TX 78238

Case No.: 10-51252

Chapter 11 Petition Date: April 5, 2010

Court: U.S. Bankruptcy Court
       Western District of Texas (San Antonio)

Judge: Leif M. Clark

Debtor's Counsel: James Samuel Wilkins, Esq.
                  Willis & Wilkins, LLP
                  100 W Houston Street, Suite 1275
                  San Antonio, TX 78205
                  Tel: (210) 271-9212
                  Fax: (210) 271-9389
                  E-mail: jwilkins@stic.net

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

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

A list of the Debtor's 11 largest unsecured creditors is available
for free at http://bankrupt.com/misc/txwb10-51252.pdf

The petition is signed by Sharif Khan, the Debtor's president.


NICHOLAS NIKITAS: Voluntary Chapter 11 Case Summary
---------------------------------------------------
Debtor: Nicholas M. Nikitas
        63 River Street
        Plymouth, MA 02360

Bankruptcy Case No.: 10-13552

Chapter 11 Petition Date: April 2, 2010

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

Judge: Frank J. Bailey

Debtor's Counsel: William T. Stevens, Esq.
                  130 Bishop Allen Drive,
                  2nd Floor
                  Cambridge, MA 02139
                  Tel: (617) 354-9200
                  Fax: (617) 354-9201
                  E-mail: wtstevens@rcn.com

Estimated Assets: $0 to $50,000

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

The Debtor did not file a list of its largest unsecured creditors
together with its petition.

The petition was signed by Nicholas M. Nikitas.

Debtor-affiliates that filed separate Chapter 11 petitions:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Nikitas Family Inns, Inc.              10-12263    03/04/10
The Nikitas Inn of Kingston, Inc.      10-12192    03/02/10


OPTELECOM-NKF INC: KPMG LLP Raises Going Concern Doubt
------------------------------------------------------
Optelecom-NKF, Inc., filed on March 30, 2010, its annual report on
Form 10-K for the year ended December 31, 2009.

KPMG LLP, in McLean Va., expressed substantial doubt about the
Company's ability to continue as a going concern.  The independent
auditors noted that Company has suffered losses from operations,
has substantial debt maturing, and its viability is dependent on
the success of its future operations and ability to obtain future
financing.

The Company reported a net loss of $2.4 million on $36.2 million
of revenue for 2009, compared with a net loss of $1.8 million on
$45.2 million of revenue for 2008.

The Company's balance sheet as of December 31, 2009, showed
$41.2 million in assets, $21.4 million of debts, and $19.8 million
of stockholders' equity.

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

               http://researcharchives.com/t/s?5f08

Germantown, Md.-based Optelecom-NKF, Inc., develops video network
solutions for traffic monitoring and security of airports,
seaports, casinos, prisons, utilities, public transit, city
centers, hospitals, and corporate campuses.


ORGANIC GROWING: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: Organic Growing Systems, Inc.
        792 Ferguson Mill Road
        Monticello, MS 39654
        P.O. Box 126
        Bremen, GA 30110

Bankruptcy Case No.: 10-50792

Chapter 11 Petition Date: April 3, 2010

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

Debtor's Counsel: William R. Armstrong, Jr., Esq.
                  William R. Armtrong, Jr., P.A.
                  1675 Lakeland Drive
                  Riverhill Tower, Suite 308
                  Jackson, MS 39216
                  Tel: (601) 981-9696
                  Fax: (601) 981-9941
                  E-mail: warmstrong_1@bellsouth.net

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

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

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

The petition was signed by Christopher J. Nichols, chairman of the
board of directors.


OTAY-ADEJO PROPERTIES: Case Summary & 7 Largest Unsec. Creditors
----------------------------------------------------------------
Debtor: Otay-Adejo Properties, LLC
        P.O. Box 530388
        San Diego, CA 92153

Bankruptcy Case No.: 10-05585

Chapter 11 Petition Date: April 4, 2010

Court: U.S. Bankruptcy Court
       Southern District of California (San Diego)

Debtor's Counsel: Kit J. Gardner, Esq.
                  Law Offices of Kit J. Gardner
                  501 W. Broadway, Suite 800
                  San Diego, Ca 92101
                  Tel: (619) 525-9900
                  E-mail: kgardner@gardnerlegal.com

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

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

A copy of the Company's list of 7 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/casb10-05585.pdf

The petition was signed by Juan Escandon, managing member.


PALMDALE HILLS: SunCal Says Lehman Repurchase Could Block Suits
---------------------------------------------------------------
Edvard Pettersson at Bloomberg News reports that SunCal Cos. said
Lehman Brothers Holdings Inc. shouldn't be allowed to buy back
loans that were used to fund now bankrupt projects if the
repurchase is used to block its lawsuit against the failed
investment bank.

According to the report, lawyers representing a group of SunCal
developments forced into Chapter 11 after Lehman's collapse in
September 2008 said in a bankruptcy court filing that they feared
Lehman might use the repurchase of the $1.5 billion in loans from
Fenway Capital LLC to halt a lawsuit they brought to subordinate
Lehman's claims in their estates.

Bloomberg relates that Lehman said last month it will buy back the
loans that Fenway Capital acquired as part of a repurchase
agreement shortly before Lehman's bankruptcy.  The SunCal group
said it is concerned that if the loans become part of the Lehman
Chapter 11 case, Lehman can seek an automatic stay against its
lawsuit.

LBHI and its affiliates committed to fund continuing costs
necessary to preserve the value of 18 SCC Projects.  The loans
totaled $2.3 billion.  The amounts loaned were all secured by,
among other things, first priority trust deeds on the Projects'
real property.  The loans stopped when Lehman filed for
bankruptcy.

                       About Lehman Brothers

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

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

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

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

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

               International Operations Collapse

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

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

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

                        About Palmdale Hills

SunCal Companies is a California developer. Palmdale Hills
Property LLC and other units were formed to develop various
residential real estate projects located throughout the western
United States.

Lehman Brothers Holdings Inc. and an affiliate committed to SunCal
on a $2.3 billion funding for the development of various
residential real estate projects. The amounts were secured by,
among other things, first priority trust deeds on the projects,
which include oceanlots in San Clemente, in California. LBHI
stopped funding after it filed for bankruptcy in September 15,
2008.

Palmdale together with affiliates, which include SunCal Bickford,
and LBL-SunCal Northlake LLC, filed for Chapter 11 protection
before the U.S. Bankruptcy Court for the Central District of
California on Nov. 6, 2008 (Case No. 08-17206).

In its petition, Palmdale estimated assets and debts of between
$100,000,001 to $500,000,000. Paul J. Couchot, Esq., at Winthrop
Couchot PC, represents the Debtors in their restructuring effort.


PLAZA LLC: Court Approves Chapter 11 Plan; Auction on April 21
--------------------------------------------------------------
The Bankruptcy Court approved a plan of reorganization of Plaza
LLC to enable it to proceed to auction its remaining office-condo
units at downtown Orlando's The Plaza mixed-use building on April
21, according to Business Journal of Orlando.

Slated for auction is 10th floor of Class A office space.  All
bidders must register by April 9 to participate in the auction
that will be handled by Worldwide Auction Realty Services.
Minimum bids on the space range from $205,500 for individual units
to $4.8 million for the entire 61,545 square feet of space.

The Plaza LLC was founded by Orlando developer Cameron Kuhn
five years ago to launch his landmark downtown twin-tower Plaza
complex.  The Plaza LLC has filed for bankruptcy protection in
the U.S. Bankruptcy Court for the Middle District of Florida.


PNN ENTERPRISE: Case Summary & 3 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: PNN Enterprises, Inc.
          dba Rishi Village Apartments
        325 S. Story
        Irving, TX 75060

Bankruptcy Case No.: 10-32371

Chapter 11 Petition Date: April 5, 2010

Court: United States Bankruptcy Court
       Northern District of Texas (Dallas)

Judge: Harlin DeWayne Hale

Debtor's Counsel: Eric A. Liepins, Esq.
                  Eric A. Liepins, P.C.
                  12770 Coit Rd., Suite 1100
                  Dallas, TX 75251
                  Tel: (972) 991-5591
                  E-mail: eric@ealpc.com

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

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

A list of the Company's 3 largest unsecured creditors is available
for free at http://bankrupt.com/misc/txnb10-32371.pdf

The petition was signed by Patricia Kitchens, President.


PONCE BUSINESS: Files for Chapter 11 Bankruptcy
-----------------------------------------------
Paul Brinkmann at Business Journal of South Florida reports that
Ponce Business Center filed for Chapter 11 bankruptcy, listing
assets of between $1 million and $10 million, and liabilities of
less than $1 million.

According to records from Miami Dade County Circuit court, the
Company lost a $1.9 million judgment in December to 2000 Ponce De
Leon Square.  2000 Ponce is listed as a creditor in the bankruptcy
case.


PPM TECHNOLOGIES: Voluntary Chapter 11 Case Summary
---------------------------------------------------
Debtor: PPM Technologies, Inc.
        875 North Michigan Avenue
        Suite 2540
        Chicago, IL 60611

Bankruptcy Case No.: 10-14795

Chapter 11 Petition Date: April 3, 2010

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

Judge: Jack B. Schmetterer

Debtor's Counsel: Karen J. Porter, Esq.
                  Porter Law Network
                  230 West Monroe
                  Suite 240
                  Chicago, IL 60606
                  Tel: (312) 372-4400
                  Fax: (312) 372-4160
                  E-mail: kjplawnet@aol.com

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

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

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

The petition was signed by Leroy J. Wright, chairman and CEO.

Debtor-affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
PPM Technologies Holding, Inc.         10-14788    4/03/10
   Estimated Assets: $1,000,001 to $10,000,000
   Estimated Debts: $10,000,001 to $50,000,000


PRESTIGE BRANDS: Closes Tender Offer for 2012 Notes
---------------------------------------------------
Prestige Brands Holdings, Inc.'s wholly-owned subsidiary Prestige
Brands, Inc., commenced a cash tender offer for any and all of its
9 1/4% Senior Subordinated Notes due 2012, of which $126 million
aggregate principal amount were outstanding at that time.  In
conjunction with the Tender Offer, Prestige Brands solicited
consents to adopt proposed amendments to the indenture under which
the Notes were issued, dated as of April 6, 2004, that, among
other things, eliminated substantially all of the restrictive
covenants and certain events of default in the Indenture, and
shortened the minimum notice period for a redemption from 30 days
to three business days.  On March 24, 2010, the Company announced
that as of 5:00 pm, New York City time, on March 23, 2010,
$97,913,000 aggregate principal amount of the Notes had been
validly tendered and not withdrawn, which represented 77.71% of
the outstanding aggregate principal amount of the Notes.  Prestige
Brands accepted for purchase and payment all of such tendered
Notes.  As of the Consent Payment Deadline, consents from holders
of 77.71% also had been received and not withdrawn, representing a
sufficient amount to approve the proposed amendments, and on
March 24, 2010, a supplement to the Indenture was executed
effecting the proposed amendments.

On March 24, 2010, Prestige Brands delivered to the trustee of the
Notes irrevocable instructions to redeem, on or about April 15,
2010, all Notes that were not tendered pursuant to the Tender
Offer on or before the Expiration Date.

Prestige Brands has engaged BofA Merrill Lynch as Dealer Manager
and Solicitation Agent for the Offer.  Persons with questions
regarding the Offer should contact BofA Merrill Lynch at (888)
292-0070 (toll free) or (980) 388-9217 (collect).  Requests for
copies of the Offer to Purchase or other tender offer materials
may be directed to D.F. King & Co., Inc., the Information Agent,
at (800) 769-7666 (toll-free) or (212) 269-5550 (collect), or in
writing at 48 Wall Street, 22nd Floor, New York, NY 10005.

                    About Prestige Brands

Prestige Brands, Inc., markets and distributes brand name over-
the-counter healthcare, personal care and household products
throughout the United States, Canada and certain international
markets.  Key brands include Compound W(R) wart treatments,
Chloraseptic(R) sore throat relief and allergy treatment products,
New Skin(R) liquid bandage, Clear Eyes(R) and Murine(R) eye care
products, Little Remedies(R) pediatric over-the-counter healthcare
products, The Doctor's(R) NightGuard(TM) dental protector,
Cutex(R) nail polish remover, Comet(R) and Spic and Span(R)
household cleaners, and other well-known brands.

                          *     *     *

As reported in the Troubled Company Reporter on March 12, 2010,
Standard & Poor's Ratings Services said that it affirmed its 'B+'
corporate credit rating on Irvington, New York-based Prestige
Brands Inc.  The outlook is stable.


RANCHO SUPERMARKET: Case Summary & 3 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Rancho Supermarket Inc.
        519 Jackson
        Pasadena, TX 77506-2242

Bankruptcy Case No.: 10-32772

Chapter 11 Petition Date: April 5, 2010

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

Judge: Karen K. Brown

Debtor's Counsel: E Rhett Buck, Esq.
                  Attorney at Law
                  3730 Kirby Dr
                  Ste 1200
                  Houston, TX 77098
                  713-868-9447
                  Fax : 713-868-6157
                  E-mail: erhettbuck@aol.com

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

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

A list of the Company's 3 largest unsecured creditors is available
for free at:

             http://bankrupt.com/misc/txsb10-32772.pdf

The petition was signed by Rubina Husain Ansari, Director.


RICHARD SOLIS: Voluntary Chapter 11 Case Summary
------------------------------------------------
Joint Debtors: Richard Solis
               Veronica Solis
               2813 Canyon Falls Drive
               Modesto, CA 95351

Bankruptcy Case No.: 10-91258

Chapter 11 Petition Date: April 5, 2010

Court: U.S. Bankruptcy Court
       Eastern District of California (Modesto)

Judge: Ronald H. Sargis

Debtor's Counsel: Sunita Kapoor, Esq.
                  4115 Blackhawk Plaza Circle #100
                  Danville, CA 94506
                  Tel: 925-736-2324

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

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

The Joint Debtors did not file a list of creditors together with
its petition.

The petition was signed by the Joint Debtors.


ROBERT PELSHAW: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Robert Lee Pelshaw
        PO Box 461059
        Papillion, NE 68046

Bankruptcy Case No.: 10-80982

Chapter 11 Petition Date: April 5, 2010

Court: United States Bankruptcy Court
       District of Nebraska (Omaha Office)

Debtor's Counsel: Howard T. Duncan, Esq.
                  Duncan & Davis, P.C., L.L.O.
                  1910 S. 72nd St., Suite 304
                  Omaha, NE 68124-1734
                  Tel: (402) 391-4904
                  Fax: (402) 391-0088
                  E-mail: cathy@hduncanlaw.com

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

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

A list of the Company's 20 largest unsecured creditors is
available for free at http://bankrupt.com/misc/neb10-80982.pdf

The petition was signed by Robert Lee Pelshaw.


ROBERT RIGGS: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Robert C. Riggs
          dba Car Smart Auto Sales
        112 Jade Avenue
        New Beach, CA 92662

Bankruptcy Case No.: 10-09585

Chapter 11 Petition Date: April 2, 2010

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

Judge: Redfield T. Baum, Sr.

Debtor's Counsel: Allen D. Butler, Esq.
                  Law Office of Allen D. Butler PC
                  406 E. Southern
                  Tempe, AZ 85282
                  Tel: (480) 921-0626
                  Fax: (480) 784-4996
                  E-mail: abutleraz@gmail.com

Estimated Assets: $50,001 to $100,000

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

A list of the Company's 20 largest unsecured creditors is
available for free at http://bankrupt.com/misc/azb10-09585.pdf

The petition was signed by Robert Riggs.


ROCK & REPUBLIC: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: Rock & Republic Enterprises, Inc.
        400 West Broadway
        New York, NY 10012

Bankruptcy Case No.: 10-11728

Chapter 11 Petition Date: April 1, 2010

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

About the Business: Based in Culver City, Rock & Republic is a
                    fashion brand known for its pricey designer
                    denim and other apparel.

Debtor's Counsel: Alex Spizz, Esq.
                  Arthur Goldstein, Esq.
                  Todtman, Nachamie, Spizz & Johns, P.C.
                  425 Park Avenue
                  New York, NY 10022
                  Tel: (212) 754-9400
                  Fax: (212) 754-6262
                  E-mail: aspizz@tnsj-law.com
                  E-mail: agoldstein@tnsj-law.com

Debtor's Special
Corporate
Counsel:          Manderson, Schaefer & McKinlay, LLP

Estimated Assets: $50,000,000 to $100,000,000

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

The petition was signed by Geoffrey Lurie, chief restructuring
officer.

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

Debtor-affiliate that filed a separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
  Triple R, Inc.                       10-11729   4/1/10


RODOLFO ZAMORA: Case Summary & 8 Largest Unsecured Creditors
------------------------------------------------------------
Joint Debtors: Rodolfo Zamora
                 DBA Central Coast Realty
               Maria Zamora
               P.O. Box 1170
               Freedom, CA 95019

Bankruptcy Case No.: 10-53496

Chapter 11 Petition Date: April 5, 2010

Court: U.S. Bankruptcy Court
       Northern District of California (San Jose)

Judge: Arthur S. Weissbrodt

Debtor's Counsel: Judson T. Farley, Esq.
                  Law Offices of Judson T. Farley
                  830 Bay Avenue #B
                  Capitola, CA 95010-2173
                  Tel: (831) 476-1766
                  E-mail: judsonfarley@sbcglobal.net

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

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

A copy of the Joint Debtors' list of 8 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/canb10-53496.pdf

The petition was signed by the Joint Debtors.


ROCKY MOUNTAIN: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Rocky Mountain JMP, Inc.
          dba DQ Grill and Chill
        704 Canyon Creek Drive
        Glenwood Springs, CO 81601-9721

Bankruptcy Case No.: 10-17633

Chapter 11 Petition Date: April 3, 2010

Court: U.S. Bankruptcy Court
       District of Colorado (Denver)

Judge: Howard R Tallman

Debtor's Counsel: Douglas C. Pearce, II, Esq.
                  950 Spruce Street, Suite 1C
                  Louisville, CO 80027
                  Tel: (303) 661-9292
                  Fax: (303) 661-9555
                  E-mail: doug@crlpc.com

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

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

The Company did not file a list of creditors together with its
petition.

The petition was signed by John M. Pettit, president.


RQB RESORT: Goldman Seeks to Foreclose on Sawgrass Marriott
-----------------------------------------------------------
Dow Jones Newswires' Kristina Doss reports that Goldman Sachs
Mortgage Co., has asked a bankruptcy judge to lift the automatic
stay in the bankruptcy case of RQB Resort LP so it may foreclose
on the Sawgrass Marriott Resort & Cabana Club in Florida and
possibly even sell it.

Goldman lent RQB Resort $193 million to help buy Sawgrass.
According to Dow Jones, the mortgage arm of Goldman Sachs Group
Inc. said in court papers that RQB now owes it more than $196
million -- an amount the lender claims is more than the property
is worth.

Dow Jones relates that, although the company's current cash flow
may be enough to meet its current operational needs, the lender
said RQB has failed to show how it will meet its debt obligations
to Goldman Sachs.  "The debtors have thus failed to show that an
effective reorganization is possible within any reasonable period
of time," Goldman Sachs said, according to Dow Jones.

Dow Jones notes that RQB said in court papers it had bought the
resort in 2006 for $220.6 million and subsequently invested $30
million in upgrades.  But the company, which borrowed $193 million
from Goldman Sachs when it bought the resort, said that a downturn
in the U.S. economy and fewer corporations booking the resort
proved to be "extremely challenging." The company hasn't been able
to pay Goldman Sachs since August 2009.

According to Dow Jones, RQB said it hopes the bankruptcy filing
will provide it an opportunity to emerge as a reorganized company
in 2011, when it expects the resort industry to recover.

Ponte Vedra Beach, Florida-based RQB Resort, LP, aka Sawgrass
Marriott Resort & Cabana Club, filed for Chapter 11 bankruptcy
protection on March 1, 2010 (Bankr. M.D. Fla. Case No. 10-01596).
The Company's affiliate -- RQB Development, LP, aka Sawgrass
Marriott Golf Villas & Spa -- filed a separate Chapter 11
petition.

The Company estimated its assets and debts at $100,000,001 to
$500,000,000.


RSA COMPANY: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: RSA Company
        P.O. Box 849
        Buda, TX 78610-0849

Case No.: 10-10910

Type of business: The Debtor is a single asset real estate.

Chapter 11 Petition Date: April 5, 2010

Court: U.S. Bankruptcy Court
       Western District of Texas (Austin)

Judge: Judge Craig A. Gargotta

Debtor's Counsel: Joseph D. Martinec, Esq.
                  Martinec, Winn, Vickers & McElroy, P.C.
                  600 Congress Avenue, Suite 500
                  Austin, TX 78701
                  Tel: (512) 476-0750
                  Fax: (512) 476-0753
                  E-mail: martinec@mwvmlaw.com

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

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

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

The petition is signed by Rodney F. Mueller, a general partner at
the Debtor.


SAMUEL DANIELS: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Samuel L. Daniels
          aka Sammie L. Daniels
              Sammy L. Daniels
        5502 Mudlark Circle
        Powder Springs, GA 30127

Bankruptcy Case No.: 10-70078

Chapter 11 Petition Date: April 5, 2010

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

Judge: James Massey

Debtor's Counsel: Ana Marcela Rountree, Esq.
                  Rountree Law Firm
                  27 Courthouse Square
                  Dallas, GA 30132
                  Tel: (770) 443-6060
                  Fax: (770) 443-5654
                  E-mail: ana@rountreelaw.com

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

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

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

The petition was signed by Samuel L. Daniels.


SLOAN ZSIROS: Case Summary & 3 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Sloan Zsiros
        525 Hidden Ridge Road
        Encinitas, CA 92024

Bankruptcy Case No.: 10-05594

Chapter 11 Petition Date: April 5, 2010

Court: U.S. Bankruptcy Court
       Southern District of California (San Diego)

Judge: Laura S. Taylor

Debtor's Counsel: Thomas C. Nelson, Esq.
                  484 Prospect Street
                  La Jolla, CA 92037
                  Tel: (858) 875-5092

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

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

A copy of the Debtor's list of 3 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/casb10-05594.pdf

The petition was signed by the Debtor.


SNP BOAT SERVICES: Files Chapter 15 Petition
--------------------------------------------
Michael Bathon at Bloomberg News reports that SNP Boat Services SA
filed for Chapter 15 bankruptcy protection (Bankr. S.D. Fla. Case
No. 10-18891) from its U.S. creditors to aid its restructuring
abroad.

SNP Boat is a unit of the Rodriguez Group SA which makes luxury
yachts.  The Rodriguez Group owns 99.7% of SNP Boat.

SNP Boat, based in Cannes, France, listed as much as $500 million
in both assets and debt in documents filed in bankruptcy court in
Fort Lauderdale, Florida.

Chapter 15 is the section of the bankruptcy code designed to block
U.S. lawsuits against a foreign company with assets in the U.S. as
it restructures in its home country.

According to Bloomberg, a commercial court has approved the
Rodriguez Group's recovery plan, bringing an end to one year of
protection from creditors.  Rodriguez shares will resume trading
in Paris on April 8.


SOURCE INTERLINK: Names Michael Sullivan as New CEO & Director
--------------------------------------------------------------
According to News-Press.com, Source Interlink Cos. Inc. said it
selected Michael L. Sullivan as its new chief executive officer
and director.  Mr. Sullivan will lead the Company's turnaround.

Mr. Sullivan serves on the board of the International Periodical
Distributors Association, the GMDC Merchandise Advisory Board and
the Magazine Publishers of America's Magazine Retail Advisory
Council, report notes.

Bonita Springs, Florida-based Source Interlink Companies, Inc., --
http://www.sourceinterlink.com/-- is a U.S. distributor of home
entertainment products and services and one of the largest
publishers of magazines and online content for enthusiast
audiences.  Source Interlink Media, LLC, publishes more than 75
magazines and 90 related Web sites.

Source Interlink and 17 affiliates filed for bankruptcy on
April 27, 2009 (Bankr. D. Del. Case No. 09-11424).  Judge Kevin
Gross presides over the case.  David Eaton, Esq., and David Agay,
Esq., at Kirkland & Ellis LLP; and Laura Davis Jones, Esq., Mark
M. Billion, Esq., and Timothy P. Cairns, Esq., at Pachulski Stang
Ziehl Young Jones in Wilmington, Delaware, serve as bankruptcy
counsel.  Meolis & Company LLC serves as the Debtors' financial
advisors, while Kurtzman Carson Consultants LLC is the Debtors'
claims and notice agent.  As of April 24, 2009, the Debtors had
$2,436,005,000 in total assets and $1,995,504,000 in total debts.


SOUTHWEST WHOLESALE: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Southwest Wholesale Supply Co., Inc.
        943 AT&T Center Parkway
        San Antonio, TX 78219

Case No.: 10-51271

Chapter 11 Petition Date: April 5, 2010

Court: U.S. Bankruptcy Court
       Western District of Texas (San Antonio)

Judge: Leif M. Clark

Debtor's Counsel: David S. Gragg, Esq.
                  Langley & Banack, Inc
                  Trinity Plaza II
                  745 E Mulberry, Suite 900
                  San Antonio, TX 78212
                  Tel: (210) 736-6600
                  Fax: (210) 735-6889
                  E-mail: dgragg@langleybanack.com

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

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

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

             http://bankrupt.com/misc/txwb10-51271.pdf

The petition is signed by Anthony H. Koch, the Debtor's president
and chief executive officer.


STALLION OILFIELD: S&P Withdraws 'CCC+' Corp. Credit Rating
-----------------------------------------------------------
Standard & Poor's Ratings Services withdrew its 'CCC+' corporate
credit rating and other ratings on Stallion Oilfield Services Ltd.

The company recently emerged from bankruptcy and as a result of
the restructuring, a new parent company was formed, Stallion
Oilfield Holdings Inc. (CCC+/Watch Pos/--).  There is no longer
any debt at Stallion Oilfield Services Ltd.


STAY 190: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------
Debtor: Stay 190 Ltd.
        2311 Texas Drive, Suite 105
        Irving, Tx 75062

Bankruptcy Case No.: 10-42413

Chapter 11 Petition Date: April 5, 2010

Court: United States Bankruptcy Court
       Northern District of Texas (Ft. Worth)

Judge: D. Michael Lynn

Type of Business: Single Asset Real Estate

Debtor's Counsel: John C. Leininger, Esq.
                  Bryan Cave LLP
                  2200 Ross Avenue, Suite 3300
                  Dallas, TX 75201
                  Tel: (214) 721-8040
                  E-mail: john.leininger@bryancave.com

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

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

The petition was signed by Suhas Naik, Manager of Sava Ventures
LLC, GP of Gen. Partner

Debtor-affiliates that filed separate Chapter 11 petitions:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
  Holiday 360, Ltd.                    10-42412   4/5/10
   Assets: $10-mil. to $50-mil.
   Debts: $10-mil. to $50-mil.

  Hotel 635 Beltline, LP               10-42415   4/5/10
   Assets: $10-mil. to $50-mil.
   Debts: $10-mil. to $50-mil.

Stay 190's List of 20 Largest Unsecured Creditors:

   Entity                        Nature of Claim     Claim Amount
   ------                        ---------------     ------------
Eagle Circuits                   --                  $31,034
10820 Sanden Drive
Dallas, TX 75238

One Build, LP                    --                  $57,727

US Food Service Inc.             --                  $15,481

Intercontinental Hotels Group    --                  $15,201

Meritax Landmark                 --                  $10,550

TravisWolff                      --                  $8,500

Guest Supply                     --                  $7,333

Reliant Energy                   --                  $6,612

TravelCLICK, Inc.                --                  $6,000

Connected Hotel                  --                  $4,056

Travelers                        --                  $2,671

Phoenix Distribution & Marketing --                  $2,475
LLC

Micros Systems, Inc.             --                  $2,258

REEd Plumbing, Inc.              --                  $2,031

Lands' End Business Outfitters   --                  $1,911

City of Plano - Utilities        --                  $1,877

EcoLab                           --                  $1,110

Standard Coffee Service Co.      --                  $1,528

RSI Refrigerated Specialists     --                  $1,487

Wortham Brothers, Inc.           --                  $1,455


SUPEVALU INC: S&P Affirms 'BB-' Corporate Credit Rating
-------------------------------------------------------
Standard & Poor's Ratings Services said that it affirmed its 'BB-'
corporate credit rating on SUPEVALU Inc.  The outlook remains
negative.

"S&P assigned a 'BB+' issue rating on the company's amended and
extended senior secured bank facility with a recovery rating of
'1', indicating S&P's expectations for a very high recovery (90%-
100%) in the event of a payment default," said Standard & Poor's
credit analyst Ana Lai.  The unsecured bonds remain at 'B+' or one
notch below the corporate credit rating, with a recovery rating of
'5' reflecting S&P's expectations for a modest recovery (10%-30%)
recovery in the event of a payment default.  While S&P recognizes
the company now has improved cushion under its bank facility
covenants following the amendment, the company still has sizeable
bond refinancing needs over the next few years.  Additionally, the
company's balance sheet remains highly leveraged.

Pro forma for the amendment, SUPERVALU's bank facility will be
extending only $1.5 billion of the current $2 billion revolving
credit facility to 2015.  Additionally, the company will be
extending only $500 million of the existing term B loan facility
due in 2012, to 2015.  Pro forma for these changes, SUPERVALU's
bank facility will consist of the following:

* A $600 million revolving credit facility 1 due June 2011;
* A $1.5 billion revolving credit facility 2 due April 2015;
* $366 million term loan A due June 2011;
* $502 million term loan B 1 due June 2012; and
* $500 million term loan 2 due October 2015.

The bank facility covenants have been changed to increase the
cushion.  The maximum total leverage covenant has been changed to
4.25x with two step downs scheduled at the end of December 2011
and December 2012.  The minimum interest coverage ratio has also
been amended to 2.20x with changes scheduled until December 2012.
Following the amendment, based on its operating expectations for
the company, S&P estimate the EBITDA covenant cushion under its
total leverage covenant will increase to around 17% from its
original estimate of less than 10% (based on the prior covenant).

The rating on Eden Prairie, Minn.-based SUPERVALU Inc. reflects
the company's participation in the highly competitive supermarket
industry, its recent weak operating performance, limited free
operating cash flow given its sizable capital expenditure needs,
its leveraged balance sheet, and its older acquired store base
compared with large industry peers.  The company's large scale,
good market positions, broad geographic reach, and format
diversity partly mitigate those weaknesses.


SUTTER BUTTES: Case Summary & 9 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Sutter Buttes Ranch, LLC
        9413 S. Butte Road
        Sutter, CA 95982

Bankruptcy Case No.: 10-28621

Chapter 11 Petition Date: April 5, 2010

Court: U.S. Bankruptcy Court
       Eastern District of California (Sacramento)

Judge: Ronald H. Sargis

Debtor's Counsel: Julia P. Gibbs, Esq.
                  1329 Howe Avenue #205
                  Sacramento, CA 95825-3363
                  Tel: (916) 646-2800

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

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

According to the schedules, the Company says that assets total
$5,931,200 while debts total $2,657,969.21.

A copy of the Company's list of 9 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/caeb10-28621.pdf

The petition was signed by Lucyna M. Kumar, managing member.


TALBOTS INC: Completes BPW Acquisition
---------------------------------------
The Talbots, Inc., and BPW Acquisition Corp. jointly disclosed the
closing of Talbots acquisition of BPW.

In addition to the closing of the BPW acquisition, Talbots also
successfully completed its previously announced related
transactions which include: (i) the repurchase of approximately
29.9 million shares held by Talbots former majority stockholder,
Aeon (U.S.A.), Inc.; (ii) the repayment of all outstanding debt to
Aeon totaling approximately $486.5 million plus accrued interest
and other costs; and (iii) a new up to $200 million senior secured
revolving credit facility arranged by GE Capital Markets and
agented by GE Capital, Corporate Retail Finance.

"We are delighted to welcome BPW shareholders and warrantholders,
and appreciate their support throughout this process," said Trudy
F. Sullivan, Talbots President and Chief Executive Officer.  "The
completion of this merger and related transactions marks an
important milestone for Talbots.  With an improved financial
foundation and capital structure in place, we believe we are well-
positioned for future growth and value-creation for all our
stakeholders."

Gary S. Barancik, Chief Executive Officer of BPW, said, "We are
pleased by the outcome of this transaction, and we thank BPW
shareholders and warrantholders for their endorsement of this
opportunity to participate in a company positioned for long-term
profitable growth."

The exchange ratio for the merger transaction is 0.9853 Talbots
shares per each BPW share.  As a result approximately 38,633,657
Talbots shares will be issued to BPW shareholders in the merger.

As previously announced, Talbots also completed its offer to
exchange BPW warrants for Talbots shares or warrants to acquire
Talbots shares.  Based on the preliminary results of the elections
and subject to confirmation of the validity of elections made in
the exchange offer and final proration calculations, the aggregate
exchange offer consideration currently estimated to be paid to
participating BPW warrantholders consists of 2,845,199 Talbots
shares and 17,242,750 warrants to acquire Talbots shares.  This is
based on preliminary elections to receive warrants to acquire
Talbots shares in respect of 30,562,093 public BPW warrants, and
elections to receive Talbots shares in respect of 1,037,907 public
BPW warrants.  Based on the merger exchange ratio of 0.9853
Talbots shares per each BPW share, the newly issued warrants to
acquire Talbots shares will have an exercise price of $14.85 per
Talbots share.  The final results of the elections and proration
calculations are expected to be announced on or about Friday,
April 9, 2010.

As a result of these transactions, shares of BPW will cease
trading on the American Stock Exchange effective prior to the open
of trading on Thursday, April 8, 2010.

Net proceeds to Talbots from the BPW merger of approximately
$333.1 million, combined with a drawdown of $125 million under the
GE senior secured revolving credit facility, were used to pay in
full all outstanding indebtedness to Aeon.

At the close of the transactions, Talbots total common shares
outstanding are approximately 67.7 million, reflecting the shares
of Talbots common stock issued to BPW shareholders and
warrantholders and the repurchase of all Aeon's approximately
29.9 million Talbots shares.

Dewey & LeBoeuf LLP represented the independent Audit Committee of
the Talbots Board of Directors.  Day Pitney LLP and Paul, Weiss,
Rifkind, Wharton & Garrison LLP represented Talbots.  Wachtell,
Lipton, Rosen & Katz and Akin Gump Strauss Hauer & Feld LLP
represented BPW.

Barclays Capital and Perella Weinberg Partners LP were financial
advisors to the independent Audit Committee of the Talbots Board
of Directors.

                       About Talbots Inc.

Hingham, Massachusetts-based The Talbots, Inc. (NYSE:TLB) is a
specialty retailer and direct marketer of women's apparel, shoes
and accessories.  At the end of third quarter 2009, the Company
operated 589 Talbots brand stores in 46 states, the District of
Columbia, and Canada.  Talbots brand on-line shopping site is
located at http://www.talbots.com/

As of October 31, 2009, the Company had $839,703,000 in total
assets, including $479,741,000 in total current assets, against
total current liabilities of $483,687,000; long-term debt less
current portion of $20,000,000; related party debt less current
portion of $241,494,000; deferred rent under lease commitments of
$124,126,000; deferred income taxes of $28,456,000; other
liabilities of $132,501,000; resulting in stockholders' deficit of
$190,561,000.


TERRACE POINTE: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Terrace Pointe Apartments I, LLC
          aka Terrace Pointe Apartments
        11305 N. 51st Street
        Tampa, FL 33617

Case No.: 10-07946

Chapter 11 Petition Date: April 5, 2010

Court: U.S. Bankruptcy Court
       Middle District of Florida (Tampa)

Debtor's Counsel: Amy Denton Harris, Esq.
                  Stichter, Riedel, Blain & Prosser, P.A.
                  110 E Madison Street, Suite 200
                  Tampa, FL 33602-4700
                  Tel: (813) 229-0144
                  Fax: (813) 229-1811
                  E-mail: aharris.ecf@srbp.com

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

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

The petition was signed by Ronald L. Glas, the company's Manager.

Debtor-affiliates filing separate Chapter 11 petitions:

                                                          Filing
     Entity                                  Case No.     Date
     ------                                  --------     ----
     Terrace Pointe Apartments II, LLC        10-07947   04/05/10
       Assets: $10,000,001 to $50 million
       Debts:  $10,000,001 to $50 million
     Terrace Pointe Apartments III, LLC       10-07949   04/05/10
       Assets: $10,000,001 to $50 million
       Debts:  $10,000,001 to $50 million
     Amberton Apartments, LLC                 10-03402   02/18/10
     Brentwood Apartments Tampa, LLC          10-03334   02/17/10
     Brookside Tampa, LCC                     09-28510   12/15/09
     Central Park II, LLC                     10-_____   02/19/10
     Central Park/Vouge Limited Partnership   10-03566   02/19/10
     Palma Cela Apartments, LLC               10-00166   01/06/10
     River Park Naples Limited Partnership    10-01837   01/28/10
     RSG Family-Rivertree Landing Apartments  10-03604   02/19/10
     The RSG Family Limited Partnership
       Gordon River                           10-01837   01/28/10

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


THEODORE CARTER: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Joint Debtors: Theodore R Carter
               Judy P Carter
               9600 Velvetleaf Circle
               San Ramon, CA 94582

Bankruptcy Case No.: 10-43818

Chapter 11 Petition Date: April 5, 2010

Court: U.S. Bankruptcy Court
       Northern District of California (Oakland)

Judge: Leslie J. Tchaikovsky

Debtor's Counsel: Scott J. Sagaria, Esq.
                  Law Offices of Scott J. Sagaria
                  333 W San Carlos Street #1700
                  San Jose, CA 95110
                  Tel: 408-279-2288
                  E-mail: sjsagaria@sagarialaw.com

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

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

According to the schedules, the Joint Debtors say that assets
total $3,681,617 while debts total $4,657,765.

A copy of the Joint Debtors' list of 20 largest unsecured
creditors filed together with the petition is available for free
at http://bankrupt.com/misc/canb10-43818.pdf

The petition was signed by the Joint Debtors.


THOMAS CHRISTOPHERSON: Case Summary & 20 Largest Unsec Creditors
----------------------------------------------------------------
Debtor: Thomas R. Christopherson
        1863 Caldwell
        Cleveland, OH 44118

Bankruptcy Case No.: 10-12971

Chapter 11 Petition Date: April 4, 2010

Court: United States Bankruptcy Court
       Northern District of Ohio (Cleveland)

Judge: Randolph Baxter

Debtor's Counsel: Richard E Hackerd, Esq.
                  1370 Ontario St., Suite 2000
                  Cleveland, OH 44113-1726
                  Tel: (440) 526-8780
                  Fax: (866) 201-0249
                  E-mail: Richard@Hackerd.com

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

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

According to the schedules, the Debtor has assets of $1,769,368
against debts of $5,576,875 as of the filing of the petition.

A list of the Company's 20 largest unsecured creditors is
available for free at http://bankrupt.com/misc/ohnb10-12971.pdf

The petition was signed by Thomas R. Christopherson.


TOMAR TRUCKING: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Tomar Trucking
        8420 Warren Drive
        Pomfret, MD 20675

Bankruptcy Case No.: 10-16676

Chapter 11 Petition Date: March 29, 2010

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

Judge: Thomas J. Catliota

Debtor's Counsel: John Douglas Burns, Esq.
                  6303 Ivy Lane, Ste. 102
                  Greenbelt, MD 20770
                  Tel: (301) 441-8780
                  E-mail: burnslaw@burnslaw.algxmail.com

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

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

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

            http://bankrupt.com/misc/mdb10-16676.pdf

The petition was signed by Mary Elaine Proctor, president of the
Company.


TONEATA MARTOCCIO: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Toneata Leona Martoccio
          dba Surfwood RV & Campground
          dba Parkview Properties
        30100 Mulholland Hwy
        Agoura Hills, CA 91301

Bankruptcy Case No.: 10-13830

Chapter 11 Petition Date: April 2, 2010

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

Judge: Geraldine Mund

Debtor's Counsel: Pro Se

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/cacb10-13830.pdf

The petition was signed by Toneata Leona Martoccio.


TOPAZ CAPITAL: Case Summary & 15 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Topaz Capital and Investments, Inc.
        30945 Cuvaison Drive
        Bonsall, CA 92003

Bankruptcy Case No.: 10-04983

Chapter 11 Petition Date: March 29, 2010

Court: United States Bankruptcy Court
       Southern District of California (San Diego)

Judge: Laura S. Taylor

Debtor's Counsel: Raymond R. Lee, Esq.
                  Suppa, Trucchi & Henein, LLP
                  3055 India Street
                  San Diego, CA 92103
                  Tel: (619) 297-7330
                  E-mail: leesd@aol.com

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

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

According to the schedules, the Company has assets of $5,000,000,
and total debts of $17,335,197.

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

            http://bankrupt.com/misc/casb10-04983.pdf

The petition was signed by Larry D. Gonzales, president of the
Company.


TRAHRAEG HOLDING: Case Summary & 2 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Trahraeg Holding Corporation
        211 E. Everett St
        Dixon, IL 61021

Bankruptcy Case No.: 10-71515

Chapter 11 Petition Date: March 29, 2010

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

Judge: Manuel Barbosa

Debtor's Counsel: Linda Godfrey, Esq.
                  475 Executive Parkway
                  Rockford, IL 61107
                  Tel: (815) 397-2006
                  Fax: (815) 394-1955
                  E-mail: lgodfrey@crosbylawfirmonline.com

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

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

According to the schedules, the Company has assets of $2,288,948,
and total debts of $1,382,215.

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/ilnb10-71515.pdf

The petition was signed by Orval L. Gearheart Jr., president of
the Company.


TRIBUNE CO: Lenders Want Rule 2004 Exam on Centerbridge
-------------------------------------------------------
Pursuant to Rule 2004 of the Federal Rules of Bankruptcy
Procedure, the Credit Agreement Lenders seek leave from the Court
to conduct discovery on Centerbridge Partners, L.P., Centerbridge
Credit Advisors LLC and their affiliates relating to Tribune
Company's stock purchases and the merger consummated in 2007,
including the consideration and proposal of alternatives to those
transactions.

Jaime N. Luton, Esq., at Young Conaway, Stargatt & Taylor, LLP,
counsel to the Credit Agreement Lenders, relates that:

  (a) Centerbridge asserts that it owns 37% of the senior notes
      issued by Debtor Tribune Company, a stake equating to a
      claim of approximately $475 million; and

  (b) Centerbridge has attacked the propriety of the
      Transactions throughout the Debtors' chapter 11 cases,
      most recently asserting that the Transactions constituted
      a fraudulent conveyance that siphoned off billions of
      dollars of value that should be available to fund the
      recoveries of the Debtors' pre-LBO lenders.

"In particular, the Credit Agreement Lenders are entitled to
discovery regarding how Centerbridge contemporaneously viewed the
Transactions and how it viewed the assets of Tribune Company and
its subsidiaries," Mr. Luton avers.  "The Credit Agreement Lenders
expect that Centerbridge has in its possession its own
contemporaneous analyses and related documents confirming the
propriety of the very transactions it now challenges," he adds.

Mr. Luton contends that Centerbridge's own files likely will
demonstrate that nobody, not even Centerbridge, foresaw the
economic hurricane that swamped the Debtors after consummation of
the independent Transactions in April and December 2007.

In a separate filing, the Credit Agreement Lenders seek the
Court's authority to file under seal unredacted version of the
Motion of Credit Agreement Lenders for Leave to Conduct Discovery
and publicly file a redacted version of the 2004 Motion.  The
Credit Agreement Lenders assert that the 2004 Motion contains
certain confidential information from documents that may not be
used in a court filing unless filed under seal pursuant to the
provisions of the Court's December 15, 2009 order (i) authorizing
the Debtors to establish a document depository and directing the
Official Committee of Unsecured Creditors to deliver certain
documents to the Depository pursuant to Rule 2004 of the Federal
Rule of Bankruptcy Procedure and (ii) establishing settlement
negotiation protections.

The Credit Agreement Lenders are individual creditors in
connection with holdings of indebtedness governed by Credit
Agreement, dated as of May 17, 2007, by and among Tribune,
lenders, and certain financial institutions as administrative
agent, syndication agent, co-documentation agents, and joint lead
arrangers and joint bookrunners.  A list of the Credit Agreement
Lenders is available for free at:

        http://bankrupt.com/misc/Tribune_HBD&YCST3rd.pdf

                        About Tribune Co.

Headquartered in Chicago, Illinois, Tribune Co. --
http://www.tribune.com/-- is a media company, operating
businesses in publishing, interactive and broadcasting, including
ten daily newspapers and commuter tabloids, 23 television
stations, WGN America, WGN-AM and the Chicago Cubs baseball team.

The Company and 110 of its affiliates filed for Chapter 11
protection on Dec. 8, 2008 (Bankr. D. Del. Lead Case No. 08-
13141).  The Debtors proposed Sidley Austion LLP as their counsel;
Cole, Schotz, Meisel, Forman & Leonard, PA, as Delaware counsel;
Lazard Ltd. and Alvarez & Marsal North Americal LLC as financial
advisors; and Epiq Bankruptcy Solutions LLC as claims agent.  As
of Dec. 8, 2008, the Debtors have $7,604,195,000 in total assets
and $12,972,541,148 in total debts.

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


TRIBUNE CO: Lazard Work Now Include TVFN Business Review
--------------------------------------------------------
Tribune Co. and its units seek the Court's authority to supplement
their application to employ Lazard Freres & Co. LLC as financial
advisor for the limited purpose of modifying the existing
retention to encompass investment banking and financial advisory
services relating to certain discrete transactions the Debtors are
currently evaluating with respect to the Television Food Network
partnership, which are described in a supplemental engagement
letter dated as of March 5, 2010.

Recently, Tribune Company has been presented with an opportunity
to participate in the launch of a new cable television network
with its existing business partner, Scripps Networks Interactive,
involving TVFN, in which Tribune and Scripps are each partners.
Scripps has proposed contributing the majority of the assets and
liabilities of the Fine Living Network, LLC to TVFN, and the
business to which those assets and liabilities relate will, after
that contribution, be re-branded and launched as The Cooking
Channel.

The Debtors maintain that although the services are similar to the
services currently performed by Lazard under the Original
Application, the transactions described in the Supplemental
Engagement Letter are not covered by the Existing Engagement
Agreement and were not included within the scope of services to be
provided by Lazard.

Specifically, under the supplemental engagement letter, Lazard
will assist the Debtors' management in:

  (a) analyzing the business, operations and financial
      projections of TVFN;

  (b) analyzing the assets contemplated to be contributed to
      TVFN in connection with the launch of TCC;

  (c) analyzing the business, operations, and financial
      projections of TCC;

  (d) the valuation analysis of TVFN, both prior to and after
      the contribution of FLN assets and liabilities;

  (e) analyzing the potential financial impact on Tribune of
      meeting its proportional requirement of TVFN and thus
      retaining its current 31.3% interest in TVFN or of
      abstaining from investing and suffering economic dilution;

  (f) negotiations with Scripps relating to the launch of TCC;

  (g) discussions with various creditor constituencies regarding
      Tribune's analysis and recommendations; and

  (h) in any other reasonable requests related to evaluation and
      negotiations with respect to the transactions.

In consideration of Lazard's services under the Supplemental
Engagement Letter, the Debtors have agreed to a flat fee of
$75,000 payable upon the earlier of:

  (i) the time when the Tribune Company invests in or
      contributes additional capital or other assets to TVFN;

(ii) the time when the Board of Directors of Tribune Company
      has determined not to invest in or contribute additional
      capital or other assets to TVFN;

(iii) September 30, 2010; and

(iv) termination of the agreement by the Debtors.

The Debtors will also reimburse Lazard for its reasonable and
documented expenses for not more than $50,000.

A full-text copy of Lazard's March 5 Engagement Letter is
available for free at:

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

                        About Tribune Co.

Headquartered in Chicago, Illinois, Tribune Co. --
http://www.tribune.com/-- is a media company, operating
businesses in publishing, interactive and broadcasting, including
ten daily newspapers and commuter tabloids, 23 television
stations, WGN America, WGN-AM and the Chicago Cubs baseball team.

The Company and 110 of its affiliates filed for Chapter 11
protection on Dec. 8, 2008 (Bankr. D. Del. Lead Case No. 08-
13141).  The Debtors proposed Sidley Austion LLP as their counsel;
Cole, Schotz, Meisel, Forman & Leonard, PA, as Delaware counsel;
Lazard Ltd. and Alvarez & Marsal North Americal LLC as financial
advisors; and Epiq Bankruptcy Solutions LLC as claims agent.  As
of Dec. 8, 2008, the Debtors have $7,604,195,000 in total assets
and $12,972,541,148 in total debts.

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


TRIBUNE CO: Retained Professionals Have Billed $138 Million
-----------------------------------------------------------
In the 15 months since Tribune Company and its affiliates filed
for bankruptcy, law firms and other professionals have billed them
$138 million, or about one-quarter of the company's cash flow last
year, an analysis of court documents shows, Michael O'neal of The
Los Angeles Times, reported.

Sidley Austin, Tribune's lead counsel, take alone is pushing $25
million, the newspaper added.

The LA Times, however, noted that the Tribune spending is hardly
unusual.  Major bankruptcy cases in recent years -- like Enron
($793 million), United Airlines ($296 million) and Delphi (just
under $400 million) -- have been colossally expensive, and the
Lehman Bros. case will dwarf all of those, the newspaper pointed
out.

In 2009, Judge Kevin Carey of the U.S. Bankruptcy Court for the
District of Delaware warned lawyers in Tribune case that they had
better think twice about charging more than $1,000 an hour, the
report related.  With the exception of Judge Carey's early flash
of concern, neither he nor the U.S. Bankruptcy Trustee overseeing
fees in the Tribune case have blinked at the millions of dollars
flowing to lawyers each month, the LA Times noted.

The newspaper added that the only serious challenge to the Tribune
fees has come from junior bondholders who have contested an out-
of-court agreement under which Tribune paid $25 million to cover
professional fees incurred in just the first 10 months of the case
by the banks that provided the financing for the company's failed
2007 leveraged buyout.

                        About Tribune Co.

Headquartered in Chicago, Illinois, Tribune Co. --
http://www.tribune.com/-- is a media company, operating
businesses in publishing, interactive and broadcasting, including
ten daily newspapers and commuter tabloids, 23 television
stations, WGN America, WGN-AM and the Chicago Cubs baseball team.

The Company and 110 of its affiliates filed for Chapter 11
protection on Dec. 8, 2008 (Bankr. D. Del. Lead Case No. 08-
13141).  The Debtors proposed Sidley Austion LLP as their counsel;
Cole, Schotz, Meisel, Forman & Leonard, PA, as Delaware counsel;
Lazard Ltd. and Alvarez & Marsal North Americal LLC as financial
advisors; and Epiq Bankruptcy Solutions LLC as claims agent.  As
of Dec. 8, 2008, the Debtors have $7,604,195,000 in total assets
and $12,972,541,148 in total debts.

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


TWIN WINGS: Files for Chapter 11 Bankruptcy Protection
------------------------------------------------------
Jim Hammerand, staff writer at Business Journal of Minneapolis/St.
Paul, reports that Twin Wings of Minneapolis filed for Chapter 11
bankruptcy protection, owing $1.8 million to 17 creditors and
listing no more than $50,000 in assets.

According to the report, the Company said it owes more than $1.2
million to North American Banking Co. in Minneapolis; about
$440,000 to landlord Block E Realty of Eden Prairie; $50,000 to
Minneapolis law firm Leonard, Street & Deinard; and about $23,000
to Sysco Foods in St. Paul.  The Company listed a $35,000
obligation to the Minnesota Department of Revenue for sales and
use taxes.

Twin Wings of Minneapolis owns Block E Hooters that operates a
restaurant.


US FIDELIS: Judge Freezes Owners' Personal Assets
-------------------------------------------------
Matthew Hathaway at St. Louis Post-Dispatch reports that U.S.
Bankruptcy Judge Charles E. Rendlen III on Wednesday issued a
temporary order that freezes the personal assets of US Fidelis
owners Darain and Cory Atkinson and halts most lawsuits against
the brothers.  The order, sought by creditors, expires July 8.

According to the report, David Warfield, Esq., a lawyer
representing a creditors committee, said the order was necessary
to preserve assets the Atkinsons owe to US Fidelis and -- by
extension -- the company owes to creditors, including hundreds of
consumers.

In support of the order, Mr. Warfield filed with the court a
financial report stating the Atkinsons were paid about $217
million in shareholder distributions from 2004 through last year.
In addition, the filing stated the brothers received loans from
the company totaling about $75 million in 2008 and 2009.

The report notes that Norman Pressman, Esq., Darain Atkinson's
lawyer in the bankruptcy case, told Judge Rendlen that he proposed
a settlement last month at a meeting with the Missouri attorney
general's office and lawyers for other interested parties.
According to the Dispatch, Mr. Warfield said after the hearing
that he is cautiously optimistic about Pressman's offer.  "We're
seeing the effort, but we're not seeing the money," he said. "And
it's all about seeing the money."

Wentzville, Missouri-based US Fidelis, Inc., is a marketer of
vehicle service contracts developed by independent and unrelated
companies.  The Company filed for Chapter 11 bankruptcy protection
on March 1, 2010 (Bankr. E.D. Mo. Case No. 10-41902).  Robert E.
Eggmann, Esq., at Lathrop & Gage, assists the Company in its
restructuring effort.  According to the schedules, the Company has
assets of $74,386,836, and total debts of $25,770,655.


VALEANT PHARMACEUTICALS: Moody's Puts 'Ba3' Rating on Senior Notes
------------------------------------------------------------------
Moody's Investors Service assigned a rating of Ba3 to the new
senior unsecured note offering of Valeant Pharmaceuticals
International.  At the same time Moody's affirmed Valeant's
existing B1 Corporate Family Rating, Ba3 Probability of Default
Rating, SGL-2 Speculative Grade Liquidity Rating and Ba3 rating
for Valeant's existing $365 million senior unsecured notes.  The
rating outlook remains stable.

Proceeds from the offering are expected to be used for general
corporate purposes including business development and the
redemption of the remaining outstanding portion of the 3%
convertible notes.

Valeant's B1 Corporate Family Rating reflects the company's
relatively limited size and scale compared with other rated
specialty pharmaceutical companies, as well as the lack of
critical mass in any key therapeutic categories.  The rating
reflects Valeant's solid growth and operating performance since
the implementation of the company's 2008 restructuring initiative,
which has been successfully executed, to date.  The restructuring
has resulted in good cost controls and an enhanced strategic focus
in the dermatology and neurology business segments.  The rating
also reflects the company's good product and geographic diversity,
as well as positive pipeline momentum attributable to the
regulatory filing of retigabine in both the U.S. and Europe.

Although Valeant has exhibited solid operating performance, the
rise in debt associated with the transaction is expected to
moderate certain key financial metrics including debt to EBITDA,
CFO/Debt and FCF/Debt.  Although this transaction will strengthen
Valeant's cash balances, a substantial portion of these proceeds
are likely to be used to fund future acquisitions.  The pace of
future business development remains uncertain, as well as the
company's tolerance for incremental leverage.  Moody's believes
that sustainable long-term growth appears dependent on
acquisitions and retigabine.  Failure to obtain regulatory
approval for retigabine would represent a strategic setback,
potentially causing the company to accelerate its search for
external growth.

Ratings assigned:

  -- Ba3 (LGD4, 57%) rating on $350 million senior unsecured notes
     due 2020

Ratings affirmed:

  -- B1 Corporate Family Rating
  -- Ba3 Probability of Default Rating
  -- SGL-2 Speculative Grade Liquidity Rating

Ratings affirmed with LGD point-estimate revision:

  -- Ba3 (LGD4, 57%) rating on $365 million senior unsecured notes
     due 2016

Moody's does not rate Valeant's 3% convertible subordinated notes
due 2010 or its 4% convertible subordinated notes due 2013.

Moody's last rating action on Valeant took place on May 29, 2009,
when Moody's assigned a rating of Ba3 to Valeant's senior
unsecured notes, as well as a B1 Corporate Family Rating, Ba3
Probability of Default Rating and SGL-2 Speculative Grade
Liquidity Rating.

Headquartered in Aliso Viejo, California, Valeant Pharmaceuticals
International [NYSE: VRX] is a global specialty pharmaceutical
company.  Valeant reported approximately $830 million of total
revenues during 2009.


VALEANT PHARMACEUTICALS: S&P Raises Corp. Credit Rating to 'BB-'
----------------------------------------------------------------
Standard & Poor's Ratings Services said that it raised its
corporate credit rating on Aliso Viejo, California-based Valeant
Pharmaceuticals International to 'BB-' from 'B+'.  The outlook is
stable.

At the same time, S&P assigned its 'BB-' (same as the corporate
credit rating) issue-level rating to the company's proposed
$350 million of senior unsecured notes due 2020, and assigned a
recovery rating of '3', indicating its expectation of meaningful
(50% to 70%) recovery of principal in the event of payment
default.

S&P raised the issue-level rating on the existing senior unsecured
notes to 'BB-' from 'B+'.  The recovery rating remains '3'.  S&P
also raised the issue-level rating on the company's subordinated
3% and 4% convertible notes to 'B' from 'B-'.  The recovery rating
on the notes remains '6'.

"The upgrade reflects successful execution of its restructuring
strategy that has resulted in a narrower, but still geographically
diverse, footprint; acquisitions to strengthen its product
portfolio and to develop further its dermatology and neurology
franchises; and cost reductions," said Standard & Poor's credit
analyst Michael G.  Berrian.  "This has enabled the company to
generate steady positive free cash flow that has been used to
reduce both debt and leverage, and has also resulted in operating
margins improving to 42% as of Dec. 31, 2009, from 26% in the
prior year."

S&P's ratings on specialty pharmaceutical company Valeant
Pharmaceutical International reflect a thin product pipeline, a
continued reliance on acquisitions for growth, and a weak internal
research and development program.  These factors continue to
outweigh Valeant's diverse product portfolio and adequate
liquidity.

Valeant's weak business risk profile reflects a thin pipeline,
with only two products in Phase III (both of which were acquired
with Dow), while two current products, Diastat and Cesamet, have
near-term risks of competitor entry.  While multiple international
acquisitions over the past 15 months have helped to bolster its
pipeline and to grow its dermatology franchise, S&P expects
Valeant to continue making additional tuck-in acquisitions as it
focuses on shoring up its pipeline and product portfolio.  Still,
the company will be challenged in its integration efforts and
ability to quickly bring new products to market.

Through a global footprint, Valeant manufactures and distributes a
wide range of specialty pharmaceutical products (49% of revenues),
branded generics, and over the counter pharmaceutical products.

The stable outlook reflects S&P's expectations that the successful
execution of its restructuring strategy will result in sustained
cash flow generation and stable operating margins over the near-
term.  Moreover, the company is not overly leveraged for its
rating category and recent partnerships and asset purchases have
helped to bolster its pipeline and product portfolio.  S&P expects
the company to continue to make additional tuck-in acquisitions to
help offset deterioration in Efudex and Diastat because of generic
entry, and the loss of certain ribavirin royalties.  An increase
in sustained leverage to more than 4x due to a large debt financed
acquisition, or a decrease in FFO/TD to below 20%, possibly
resulting from additional generic competition, would likely result
in a downgrade.  The potential for an upgrade is limited by the
need to maintain credit metrics indicative of an intermediate
financial risk profile, which S&P believes will take more than one
year, considering the active acquisition program and the company's
ongoing need for new products.


VENTURES AT STONEBRIDGE: Case Summary & Creditors List
------------------------------------------------------
Debtor: Ventures at Stonebridge Ranch, Ltd.
        PO Box 6209
        McKinney, TX 75071

Bankruptcy Case No.: 10-41093

Chapter 11 Petition Date: April 5, 2010

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

Debtor's Counsel: Joyce W. Lindauer, Esq.
                  8140 Walnut Hill Lane
                  Suite 301
                  Dallas, TX 75231
                  Tel: (972) 503-4033
                  Fax: (972) 503-4034
                  E-mail: courts@joycelindauer.com

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

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

A list of the Company's 3 largest unsecured creditors is available
for free at:

             http://bankrupt.com/misc/txeb10-41093.pdf

The petition was signed by James Chen, President.


VICTORY TOWNHOUSE: Case Summary & 17 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Victory Townhouse Commons-DE, LLC
        3659 E. Thousand Oaks Blvd.
        Thousand Oaks, CA 91362

Bankruptcy Case No.: 10-13867

Chapter 11 Petition Date: April 2, 2010

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

Judge: Maureen Tighe

Debtor's Counsel: M Jonathan Hayes, Esq.
                  Law Office of M Jonathan Hayes
                  9700 Reseda Bl Ste201
                  Northridge, CA 91324
                  Tel: (818) 882-5600
                  Fax: (818) 882-5610
                  E-mail: jhayes@polarisnet.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 17 largest unsecured creditors is
available for free at http://bankrupt.com/misc/cacb10-13867.pdf

The petition was signed by Mark Kaufman, managing member.

Debtor-affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Variel Commons-DE, LLC                 10-11108    1/31/10


VINCENT RANDOLPH SCHMIDT: Voluntary Chapter 11 Case Summary
-----------------------------------------------------------
Debtor: Vincent Randolph Schmidt
        1921 Gibb Shoals Road
        Greer, SC 29650

Bankruptcy Case No.: 10-02243

Chapter 11 Petition Date: March 29, 2010

Court: United States Bankruptcy Court
       District of South Carolina (Spartanburg)

Judge: Helen E. Burris

Debtor's Counsel: Robert H. Cooper, Esq.
                  3523 Pelham Road, Suite B
                  Greenville, SC 29615
                  Tel: (864) 271-9911
                  E-mail: bknotice@thecooperlawfirm.com

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

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

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

The petition was signed by Mr. Schmidt.


VIVAKOR INC: McGladrey & Pullen Raises Going Going Concern Doubt
----------------------------------------------------------------
Vivakor, Inc., filed on March 30, 2010, its annual report on Form
10-K for the year ended December 31, 2009.

McGladrey & Pullen, LLP, in Cedar Rapids, Iowa, expressed
substantial doubt about the Company's ability to continue as a
going concern.  The independent auditors noted that the Company's
ability to become a profitable operating company is dependent upon
obtaining financing adequate to fulfill its research and market
introduction activities, and achieving a level of revenues
adequate to support the Company's cost structure.

The Company reported a net loss of $1,945,259 on $149,417 of
revenue for 2009, compared with a net loss of $1,031,788 on
$194,700 of revenue for 2008.

The Company's balance sheet as of December 31, 2009, showed
$3,471,371 in assets, $3,410,942 of debts, and $60,375 of
stockholders' equity.

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

               http://researcharchives.com/t/s?5f07

Coralville, Iowa-based Vivakor, Inc., is a transdisciplinary
research company that develops products in the fields of molecular
medicine, electro-optics, biological handling and natural and
formulary compounds.


WESTLAND DEVCO: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Westland Devco, LP
          aka Westland
              Petroglyphs
              Watershed
              Strom Cloud
              Sundoro South
              Grasslands
        201 Third Street, Suite 500
        Albuquerque, NM 87102

Bankruptcy Case No.: 10-11166

Chapter 11 Petition Date: April 5, 2010

Court: U.S. Bankruptcy Court
       District of Delaware (Delaware)

Judge: Christopher S. Sontchi

Debtor's Counsel: Norman L. Pernick, Esq.
                  E-mail: bankruptcy@coleschotz.com
                  Patrick J. Reilley, Esq.
                  E-mail: preilley@coleschotz.com
                  Cole, Schotz, Meisel, Forman & Leonard,
                  500 Delaware Avenue, Suite 1410
                  Wilmington, DE 19801
                  Tel: (302) 652-3131
                  Fax: (302) 652-3117

Debtor's
Corporate
& Finance
Attorneys:        Katten Muchin Rosenmann LLP

Debtor's
Financial
Advisor:          Navigant Capital Advisors, LLC

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

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

The petition was signed by Bruce V. Cook, Executive Vice
President, Secretary and General Counsel of Westland Holdco, Inc.,
Managing General Partner of Westland Devco, LP.

Debtor's List of 20 Largest Unsecured Creditors:

   Entity                           Nature of Claim   Claim Amount
   ------                           ---------------   ------------
Jones Day                           Legal Fees            $241,466
222 East 41st Street
New York City, NY 10017

DW Turner Inc.                      Trade Debt            $135,000
400 Gold Avenue SW, 12th Floor
Albuquerque, NM 87102

InterLegis, Inc.                    Trade Debt             $96,205
1801 North Lamar Street, Suite 201
Dallas, TX 75202

Happold Consulting Ltd              Trade Debt             $63,370

Bohannan Huston, Inc.               Trade Debt             $50,774

Deloitte & Touche, LLP              Professional Fees      $45,000

Heads Up Landscape                  Trade Debt             $35,334

Hultt Zollars, Inc.                 Trade Debt             $31,985

SWA Group                           Trade Debt             $24,458

Errol L. Montgomery &               Trade Debt             $22,801
Associates Inc.

Modrall Sperling Roehl P.A.         Trade Debt             $19,566

Vaughn Weeden Creative, Inc.        Trade Debt             $16,949

MSHC Partners, Inc.                 Trade Debt             $11,857

Ronald R. Gastelum                  Consulting Fees        $10,000

Kovach Group of Companies           Trade Debt             $10,000

KTGY Group, Inc.                    Trade Debt              $9,030

Robert L. Rivera                    Lobbying                $8,551

On-Time Performance                 Trade Debt              $8,448

Rodey, Dickason, Sloan, Akin        Legal Fees              $5,000
& Robb, P.A.

White & Case                        Legal Fees              $4,114


WILCO 1136: Voluntary Chapter 11 Case Summary
---------------------------------------------
Debtor: Wilco 1136, Inc.
        1720 SW 9 St.
        Boca Raton, FL 33486

Bankruptcy Case No.: 10-18828

Chapter 11 Petition Date: April 5, 2010

Court: United States Bankruptcy Court
       Southern District of Florida (West Palm Beach)

Judge: Paul G. Hyman, Jr.

Debtor's Counsel: Wendell T Locke, Esq.
                  Locke Law, P.A.
                  PO Box 841035
                  Pembroke Pines, FL 33084
                  Tel: (954) 382-8858

Scheduled Assets: $411,361

Scheduled Debts: $15,391,239

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

The petition was signed by Alexander Tapie, director.


WILLIAM LINDSEY: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: William Edwin Lindsey
        dba Lindsey & Associates
        aka Bill Lindsey
        aka William E. Lindsey
        826 Loop Road
        Knoxville, TN 37934

Bankruptcy Case No.: 10-31694

Chapter 11 Petition Date: April 5, 2010

Court: United States Bankruptcy Court
       Eastern District of Tennessee (Knoxville)

Judge: Richard Stair, Jr.

Debtor's Counsel: Michael H. Fitzpatrick, Esq.
                  Jenkins & Jenkins Attorneys, PLLC
                  2121 First Tennessee Plaza
                  800 S. Gay St.
                  Knoxville, TN 37929
                  Tel: (865)524-1873
                  Fax: (865) 524-2440
                  E-mail: mhf@jlaw.com

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

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

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

The petition was signed by William Edwin Lindsey.


WILLIAM LYON HOMES: Posts Net Loss for Third Consecutive Year
-------------------------------------------------------------
William Lyon Homes last week filed its annual report on Form 10-K
for the fiscal year ended December 31, 2009.

William Lyon had total assets of $860,099,000 against total
liabilities of $701,900,000, resulting in stockholders' equity of
$158,199,000.

The Company posted a net loss for the third consecutive year.  Net
loss attributable to William Lyon Homes was $20,525,000 for 2009,
a decline from $111,638,000 for 2008 and $349,408,000 for 2007.
Operating revenue continued to slide -- $309,243,000 for 2009 from
$526,078,000 for 2008 and $1,105,357,000 for 2007.

From 2007 through 2009, the Company temporarily suspended the
development, sales and marketing activities at certain of its
projects.  The Company concluded that this strategy was necessary
under the prevailing market conditions at the time and will allow
the Company to market the properties at some future time when
market conditions may have improved.  As markets continue to
improve, management continues to evaluate and analyze the market
place to potentially activate temporarily suspended projects in
2010 and beyond.

The Company said its ability to meet its obligations on its
indebtedness will depend to a large degree on its future
performance which in turn will be subject, in part, to factors
beyond its control, such as prevailing economic conditions,
mortgage and other interest rates, weather, the occurrence of
events such as landslides, soil subsidence and earthquakes that
are uninsurable, not economically insurable or not subject to
effective indemnification agreements, availability of labor and
homebuilding materials, changes in governmental laws and
regulations, and the availability and cost of land for future
development.

A full-text copy of the Company's annual report on Form 10-K is
available at no charge at http://ResearchArchives.com/t/s?5eac

                     About William Lyon Homes

Based in Newport Beach, California, William Lyon Homes and
subsidiaries -- http://www.lyonhomes.com/-- are primarily engaged
in designing, constructing and selling single family detached and
attached homes in California, Arizona and Nevada.

                          *     *     *

As reported by the Troubled Company Reporter on November 25, 2009,
Standard & Poor's Ratings Services raised its corporate credit
rating on William Lyon Homes to 'CCC' from 'CCC-' and removed it
from CreditWatch, where it was placed with positive implications
on Oct. 30, 2009.  At the same time, S&P raised its rating on the
company's senior unsecured notes to 'CC' from 'D'.  The outlook is
developing.

"S&P raised its rating on William Lyon Homes because S&P believes
that near-term liquidity pressure has eased somewhat following the
partial funding of a secured term loan and reduced maturing credit
facility debt," said credit analyst James Fielding.  "However,
this privately held homebuilder remains very highly leveraged and
may face challenges repaying or refinancing intermediate-term debt
maturities if its business prospects don't improve in the
interim."


WILLIAM MESHIER: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Joint Debtors: William T. Meshier
               Nancy A. Meshier
               5345 E. Mclellan Rd #43
               Mesa, AZ 85205

Bankruptcy Case No.: 10-09639

Chapter 11 Petition Date: April 5, 2010

Court: U.S. Bankruptcy Court
       District of Arizona (Phoenix)

Judge: Sarah Sharer Curley

Debtor's Counsel: Kevin J. Rattay, Esq.
                  Kevin J Rattay Plc
                  3200 N. Central Avenue, Suite 2000
                  Phoenix, AZ 85012
                  Tel: 602-248-1066
                  Fax: 602-248-0522
                  E-mail: kjr@rattaylaw.com

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

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

The Joint Debtors did not file a list of creditors together with
its petition.

The petition was signed by the Joint Debtors.


WOODMARK DEVELOPMENT: Case Summary & 3 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Woodmark Development, LLC
        2201 Timberloch Place, STE 110
        The Woodlands, TX 77380

Bankruptcy Case No.: 10-32913

Chapter 11 Petition Date: April 5, 2010

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

Judge: Marvin Isgur

Debtor's Counsel: Leonard H Simon, Esq.
                  Pendergraft & Simon L.L.P.
                  2777 Allen Parkway, Suite 800
                  Houston, TX 77019
                  Tel: (713) 737-8207
                  Fax: (832) 202-2810
                  E-mail: lsimon@pendergraftsimon.com

Estimated Assets: $0 to $50,000

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

A list of the Company's 3 largest unsecured creditors is available
for free at:

            http://bankrupt.com/misc/txsb10-32913.pdf

The petition was signed by J. Mark Dooley, Manager.


W.R. GRACE: To Supply Polypropylene Catalysts to Borealis AG
------------------------------------------------------------
BankruptcyData.com reports that W. R. Grace & Co. announced a new
multi-year agreement to supply polypropylene catalysts to Borealis
AG, a leading provider of chemical and innovative plastics
solutions.  Financial terms were not disclosed.  The catalysts are
used in the production of polypropylene, a plastic polymer that is
a versatile substitute for wood, metal, glass and other plastics.
The Company's polypropylene catalysts are used to make specialty
plastics for applications in automobile parts, household
appliances and consumer product packaging.

"This agreement is a reflection of our ongoing strategic direction
to expand into the polypropylene catalyst segment through greater
collaboration with a technology leader," remarked Tony Dondero,
vice president and general manager of the Company's Davison
Specialty Catalysts and Process Technologies division.  "We are
working together to meet the growing demands for this versatile
polymer."

                          About W.R. Grace

Headquartered in Columbia, Maryland, W.R. Grace & Co. (NYSE:GRA)
-- http://www.grace.com/-- supplies catalysts and silica
products, especially construction chemicals and building
materials, and container products globally.

The Company and its debtor-affiliates filed for Chapter 11
protection on April 2, 2001 (Bankr. D. Del. Case No. 01-01139).
David M. Bernick, P.C., Esq., at Kirkland & Ellis, LLP, and Laura

Davis Jones, Esq., at Pachulski Stang Ziehl & Jones, LLP,
represent the Debtors in their restructuring efforts.  The Debtors
hired Blackstone Group, L.P., for financial advice.
PricewaterhouseCoopers LLP is the Debtors' accountant.  Stroock &
Stroock & Lavan, LLP, and Duane Morris, LLP, represent the
Official Committee of Unsecured Creditors.  The Creditors
Committee tapped Capstone Corporate Recovery LLC for financial
advice.  David T. Austern, the legal representative of future
asbestos personal injury claimants, is represented by Orrick
Herrington & Sutcliffe LLP and Phillips Goldman & Spence, PA.
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, and Marla
R. Eskin, Esq., at Campbell & Levine, LLC, represent the Official
Committee of Asbestos Personal Injury Claimants.  The Asbestos
Committee of Property Damage Claimants tapped Scott Baena, Esq.,
and Jay M. Sakalo, Esq., at Bilzin Sumberg Baena Price & Axelrod,
LLP, to represent it.  Thomas Moers Mayer, Esq., at Kramer Levin
Naftalis & Frankel, LLP, represents the Official Committee of
Equity Security Holders.

W.R. Grace and its debtor affiliates, with the support of the
Official Committee of Asbestos Personal Injury Claimants, the
Asbestos PI Future Claimants' Representative and the Official
Committee of Equity Security Holders, have submitted a proposed
Chapter 11 plan of reorganization.  The Chapter 11 plan is built
around an April 2008 settlement for all present and future
asbestos personal injury claims, and a subsequent settlement for
asbestos property damage claims.  The Plan confirmation hearing
wrapped up on January 25.

Bankruptcy Creditors' Service, Inc., publishes W.R. Grace
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by W.R. Grace, W.R. Grace Co. - Conn. and their
affiliates.  (http://bankrupt.com/newsstand/or 215/945-7000)


XERIUM TECHNOLOGIES: Combined Hearing on Prepack Plan on May 12
---------------------------------------------------------------
Contemporaneous with the filing of the Chapter 11 cases of Xerium
Technologies, Inc., and its debtor affiliates, the Debtors filed
a Prepackaged Joint Plan of Reorganization and an accompanying
Disclosure Statement.  The Debtors, before the Petition Date,
solicited acceptances and rejections of the Plan from parties
entitled to vote on the Plan.

The Debtors tell Judge Kevin Carey of the U.S. Bankruptcy Court
for the District of Delaware that (i) their solicitation of
acceptances and rejections complied with all applicable non-
bankruptcy laws, rules and regulations governing the adequacy of
disclosure in connection with the solicitation and (ii) the
Disclosure Statement provides "adequate information" as defined
in Section 1125(a) of the Bankruptcy Code.

At the Debtors' behest, Judge Carey will convene a hearing on
May 12, 2010, at 4:00 p.m. (Eastern Daylight Time), to consider
confirmation of the Plan, approval of the Disclosure Statement,
and approval of the solicitation procedures and form of ballots.

The Court, also at the behest of the Debtors, approved these
additional dates related to the plan confirmation process:

  Commencement of Solicitation                  March 2, 2010
  Voting Deadline                              March 26, 2010
  Commencement Date                            March 30, 2010
  Mailing of Combined Notice                    April 6, 2010
  Plan & Disc. Statement Objection Deadline       May 4, 2010
  Plan & Disc. Statement Reply Deadline          May 10, 2010
  Combined Plan & Disc. Statement Hearing        May 12, 2010

The Debtors' counsel, John J. Rapisardi, Esq., at Cadwalader,
Wickersham & Taft LLP, in New York -- john.rapisardi@cwt.com --
told Judge Carey that consideration of the approval of the
Disclosure Statement, the Solicitation Procedures and the
Ballots, together with the confirmation of the Plan will promote
judicial economy and conserve the Debtors' resources.

Any objections to the adequacy of the Disclosure Statement,
approval of the Solicitation Procedures, approval of the Ballots,
confirmation of the Plan and any amendments or modifications will
(i) be in writing, (ii) comply with the Federal Rules of
Bankruptcy Procedures and the Local Rules of Bankruptcy Practice
and Procedure of the U.S. Bankruptcy Court for the District of
Delaware, (iii) set forth the name of the objector, the nature
and amount of any or interest asserted by the objector against
the estate or property of the Debtors, (iv) state with
particularity the legal and factual basis for that objection, and
if possible, provide a proposed modification to the Plan or
Disclosure Statement that would resolve the objection, and (v) be
served so as to be received no later than the May 4 Objection
Deadline.

          Prepetition Indebtedness and Capital Structure

* Credit Facility

Xerium is party to an Amended and Restated Credit and Guaranty
Agreement, dated as of May 30, 2008, by and among Xerium; XTI
LLC, a Delaware limited liability company; Xerium Italia
S.p.A., an Italian societa per azioni; Xerium Canada Inc., a
New Brunswick (Canada) corporation resulting from the
amalgamation of Stowe-Woodward/Mount Hope Inc. and Weavexx
Corporation; Huyck.Wangner Austria GmbH, an Austrian limited
liability company (formerly known as Huyck Austria
GmbH); and Xerium Germany Holding GmbH, a German limited
liability company, as borrowers, certain subsidiaries of the
borrowers as guarantors, various financial institutions and other
persons from time to time, as lenders, and Citicorp North
America, Inc., as administrative agent and collateral agent.

The Credit Facility consists of (i) a $50 million revolving
credit facility and (ii) seven term loans with an aggregate
original principal balance of $650 million.  The Prepetition
Revolver matures on November 19, 2011, and the Prepetition Term
Loans mature on May 19, 2012.  As of January 1, 2010, $28.1
million was outstanding on the Prepetition Revolver, and $583.6
million was outstanding on the Prepetition Term Loans.

To secure the obligations under the Credit Facility, pursuant to
that certain Pledge and Security Agreement, dated as of May 19,
2005, and pursuant to other collateral documents, certain Xerium
affiliates granted the lenders a security interest in, and
continuing liens on, substantially all of those companies'
assets.

* Derivative Financial Instruments

Xerium enters into derivative financial instruments to manage
exposures that arise from business activities that result in the
receipt or payment of future known cash amounts, the value of
which are determined by interest rates or foreign exchange rates.
Those instruments include certain interest rate swaps to hedge
variable interest related to the Credit Facility and foreign
exchange contracts to protect the value of certain assets and
obligations.

With respect to the interest rate swaps:

  (a) Xerium was counterparty to that certain Confirmation,
      dated November 16, 2007, by and among Xerium and Deutsche
      Bank AG, with an original notional amount of $132,808,000;

  (b) Xerium Canada was counterparty to a Confirmation, dated
      November 17, 2007, by and among Xerium Canada (as
      successor-in-interest to Weavexx Corporation) and DB, with
      an original notional amount of C$27,233,000;

  (c) Xerium Canada was counterparty to a Confirmation, dated
      November 17, 2007, by and among Xerium Canada (as
      successor-in-interest to Stowe-Woodward/Mount Hope Inc.)
      and DB, with an original notional amount of C$35,908,000;

  (d) XTI was counterparty to a Confirmation, dated November 17,
      2007, by and among XTI and DB, with an original notional
      amount of EUR77,723,000;

  (e) Xerium was counterparty to a 1992 ISDA Master Agreement
      (Multicurrency - Cross Border) and Schedule, dated
      November 16, 2007, and a Confirmation, dated November 19,
      2007, in each case, by and among Xerium and Merrill Lynch
      Capital Services, Inc., with an original notional amount
      of $132,808,000; and

  (f) XTI was counterparty to a 1992 ISDA Master Agreement
      (Multicurrency - Cross Border) and Schedule, dated
      November 16, 2007, and a Confirmation, dated November 19,
      2007, in each case, by and among XTI and MLCS, with an
      original notional amount of EUR77,723,000.

Xerium's obligations under the DB Swaps were unsecured.  Its
obligations under the MLCS Swaps were secured by certain
prepetition collateral, ratably with Xerium's obligations under
the Credit Facility.  The DB Swaps and the MLCS Swaps have been
terminated.

* Unsecured Lines of Credit

(a) R&D Facility

As of December 31, 2009, Xerium Austria has outstanding
borrowings in an amount equal to EUR1.2 million pursuant to four
unsecured term loans from Osterreichische
Forschungsforderungsgesellschaft mbH (Austrian Research Promotion
Agency, the national funding institution for applied industrial
research in Austria.  Each R&D Facility loan agreement requires
Xerium Austria to use loan proceeds for specified research and
development projects and in instances of default, Xerium Austria
must assign to the R&D Facility Lender all receivables derived
from the specified research and development projects.

Each R&D Facility bears interest at a rate of 2% per annum, which
is subsidized by the Austrian government, and the facilities have
maturity dates of June 30, 2011, September 30, 2011, September
30, 2011, and March 31, 2014.

(b) Umbrella Facility

Pursuant to an Umbrella Facility Agreement, dated July 15, 2008,
by and among Xerium Technologies Limited, as borrower, and DB, as
lender, Xerium Austria, Xerium Italy, and Xerium Germany draw
funds under a Guarantee Facility or a Margin Facility.

The "Umbrella Facility" consists of:

  -- a EUR3,000,000 revolving credit facility that may be used
     for general corporate and working capital purposes;

  -- a EUR1,000,000 guarantee facility that may be used through
     indemnities or bank guarantees; and

  -- a EUR1,000,000 margin facility that may be used in
     connection with foreign exchange transactions.

In connection with the Umbrella Facility Agreement, non-Debtor
Xerium UK provided a guarantee in the amount of EUR5,000,000 that
permits companies, for which Xerium UK is indirectly or directly
the majority shareholder, to execute bank guarantees under the
Guarantee Facility and to execute foreign exchange contracts
under the Margin Facility.  As of January 1, 2010, Xerium
Austria, Xerium Italy, and Xerium Germany have been allocated for
use portions of the Margin Facility and the Guarantee Facility in
the amounts of EUR100,000, EUR0, and EUR0, respectively.

              Prepackaged Chapter 11 Filing

Xerium and 15 of its affiliates filed prepackaged Chapter 11
petitions with the U.S. Bankruptcy Court for the District of
Delaware on March 30, 2010.

The Debtors' Plan provides for the allowance of Credit Facility
Claims, Secured Swap Termination Claims, and Unsecured Swap
Termination Claims.  In satisfaction of those claims, the holders
will receive their ratable shares of:

  (a) $10 million in Cash,

  (b) $410 million in principal amount of new second-lien term
      notes to be issued pursuant to an Amended and Restated
      Credit Facility, and

  (c) 82.6% of the shares of the new common stock to be issued
      by Reorganized Xerium on the Effective Date (prior to
      dilution by (i) equity incentive awards granted post
      Effective Date under the New Management Incentive Plan and
      (ii) the exercise of New Warrants that will be issued
      under the Plan).

All other allowed claims will be unimpaired.

Moreover, pursuant to the Plan, on the Effective Date, the
existing common stock of Xerium will be canceled and holders of
allowed equity interests in Xerium will receive their ratable
shares of (a) a number of shares of new common stock of
Reorganized Xerium that is equal to 17.4% of the shares of new
common stock to be issued and distributed on the Effective Date
(or reserved for future distribution in respect of equity awards
granted prepetition) and (b) New Warrants to purchase up to 10%
of the issued and outstanding shares of new common stock of
Reorganized Xerium as of the Effective Date (on a fully diluted
basis).  The Plan further provides that on the Effective Date the
Debtors' postpetition financing facility will convert into an $80
million first-lien revolving credit and term loan exit facility.

On March 2, 2010, the Debtors commenced the solicitation of votes
on the Plan and delivered copies of the Plan, the Disclosure
Statement and the appropriate ballots to all holders of claims as
of the February 23, 2010, record date established in the
Disclosure Statement in the classes entitled to vote on the Plan.

More than 92% of the creditors entitled to vote in Class 2 and
100% of the creditors entitled to vote in Class 5 submitted
ballots with respect to the Plan.  As certified by the Debtors'
solicitation and tabulation agent, The Garden City Group, Inc.,
the Plan has been overwhelmingly accepted by the two classes
entitled to vote.  Specifically, 96.68% in amount and 97.73% in
number of claims voted in Class 2, and 100% in amount and 100% in
number of claims voted in Class 5, to accept the Plan.

A full-text copy of the Debtors' Chapter 11 Plan, amended as of
March 30, 2010, is available for free at:

      http://bankrupt.com/misc/xeriumplan0320.pdf

A full-text copy of the Disclosure Statement explaining the Plan
is available for free at:

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

Full-text copies of supplements, dated March 30, 2010, to the
Plan is available for free at:

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

Full-text copies of supplements, dated March 30, 2010, to the
Disclosure Statement is available for free at:

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

A full-text copy of Garden City Group's certification with
respect to the solicitation and tabulation of votes for the
Debtors' Plan is available for free at:

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

              Purpose of the Financial Restructuring

The purpose of the financial restructuring is to reduce the
Debtors' leverage and to enhance their long-term growth and
competitive position, Mr. Light tells the Court.  Specifically,
the financial restructuring is designed to reduce the notional
value of the Debtors' total outstanding debt obligations from
approximately $640 million as of December 31, 2009, including
swap termination liabilities, to a notional value currently
estimated to be approximately $480 million on a pro forma basis
as of the consummation of the financial restructuring, he says.
The Debtors will also be able to improve their liquidity by
extending the maturity dates on the Prepetition Revolver and the
Prepetition Term Loans from 2011 and 2012, to 2015, he adds.

The Debtors believe that the financial restructuring will
reassure customers and suppliers that they are financially sound,
reduce any reluctance to conduct business with them and allow
them to improve the terms of transactions with their customers
and suppliers.  Furthermore, resolution of liquidity concerns and
completion of the financial restructuring will allow the Debtors'
management to focus its attention on operations and long-term
planning rather than on short-term financial management, Mr.
Light further tells the Court.  Therefore, the Debtors believe
that the proposed financial restructuring pursuant to the Plan is
in the best interests of the Debtors and their creditors.

                   About Xerium Technologies

Based in Raleigh, North Carolina, Xerium Technologies, Inc. (NYSE:
XRM), manufactures and supplies two types of consumable products
used primarily in the production of paper: clothing and roll
covers.  The Company, which operates around the world under a
variety of brand names, utilizes a broad portfolio of patented and
proprietary technologies to provide customers with tailored
solutions and products integral to production, all designed to
optimize performance and reduce operational costs.  With 32
manufacturing facilities in 13 countries around the world, Xerium
has approximately 3,300 employees.

Xerium Technologies and certain subsidiaries filed for Chapter 11
on March 30, 2010 (Bankr. D. Del. Lead Case No. 10-11031).  Judge
Kevin J. Carey presides over the cases.  John J. Rapisardi, Esq.;
George A. Davis, Esq.; and Sharon J. Richardson, Esq., at
Cadwalader, Wickersham & Taft LLP; and Mark D. Collins, Esq., at
Richards, Layton & Finger, P.A., serve as bankruptcy counsel.
Brian Fox, Michelle Campbell, and Michael Hartley at AlixPartners,
LLC, serve as the Debtors' restructuring advisors.  Stephen Ledoux
and Daniel Gilligan at Rothschild Inc. serve as the Debtors'
investment bankers.  Garden City Group Inc. is the Debtors' claims
agent.  Xerium Technologies disclosed total assets of $693,511,000
and total debts of $813,168,000 in its petition.

Bankruptcy Creditors' Service, Inc., publishes XERIUM TECHNOLOGIES
BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by Xerium Technologies and its various affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


XERIUM TECHNOLOGIES: Wants Schedules Filing Until June 28
---------------------------------------------------------
Xerium Technologies, Inc., and its debtor affiliates ask the Court
to extend until June 28, 2010, their deadline to file schedules of
assets and liabilities, statements of financial affairs and
schedules of contracts and leases.  In the event that the
effective date of their Joint Prepackaged Plan of Reorganization
occurs prior to the expiration of the proposed extended deadline,
the Debtors ask the Court to permanently waive the requirement to
file their Schedules.

The Debtors point out that they have negotiated and solicited
votes on their prepackaged Plan, which has been overwhelmingly
accepted by each voting class.  Moreover, the Debtors aver that
compilation of the Schedules would be unnecessarily burdensome
given that they would have to compile information from books,
records and documents located in multiple locations.  The
information is voluminous and assembling the necessary
information would require a significant expenditure of time and
effort on the part of the Debtors and their employees when those
resources would be best used effectuating the Debtors'
reorganization efforts, John J. Rapisardi, Esq., at Cadwalader,
Wickersham & Taft LLP, in New York, further aver.

Accordingly, the Debtors believe that an extension and ultimate
waiver of the requirement to file the Schedules is appropriate
and will assist the Debtors in the expeditious confirmation of
the widely-supported prepackaged Plan with minimal disruption to
their businesses.

                   About Xerium Technologies

Based in Raleigh, North Carolina, Xerium Technologies, Inc. (NYSE:
XRM), manufactures and supplies two types of consumable products
used primarily in the production of paper: clothing and roll
covers.  The Company, which operates around the world under a
variety of brand names, utilizes a broad portfolio of patented and
proprietary technologies to provide customers with tailored
solutions and products integral to production, all designed to
optimize performance and reduce operational costs.  With 32
manufacturing facilities in 13 countries around the world, Xerium
has approximately 3,300 employees.

Xerium Technologies and certain subsidiaries filed for Chapter 11
on March 30, 2010 (Bankr. D. Del. Lead Case No. 10-11031).  Judge
Kevin J. Carey presides over the cases.  John J. Rapisardi, Esq.;
George A. Davis, Esq.; and Sharon J. Richardson, Esq., at
Cadwalader, Wickersham & Taft LLP; and Mark D. Collins, Esq., at
Richards, Layton & Finger, P.A., serve as bankruptcy counsel.
Brian Fox, Michelle Campbell, and Michael Hartley at AlixPartners,
LLC, serve as the Debtors' restructuring advisors.  Stephen Ledoux
and Daniel Gilligan at Rothschild Inc. serve as the Debtors'
investment bankers.  Garden City Group Inc. is the Debtors' claims
agent.  Xerium Technologies disclosed total assets of $693,511,000
and total debts of $813,168,000 in its petition.

Bankruptcy Creditors' Service, Inc., publishes XERIUM TECHNOLOGIES
BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by Xerium Technologies and its various affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


XERIUM TECHNOLOGIES: Wants to Waive Section 341 Meeting
-------------------------------------------------------
Section 341(a) of the Bankruptcy Code requires that the U.S.
Trustee convene and preside at a meeting of creditors, and
Section 341(b) authorizes the U.S. Trustee to convene a meeting
of equity security holders.  However, Section 341(e) provides
that, "[n]othing subsections (a) and (b), the court, on the
request of a party-in-interest and after notice and hearing, for
cause may order that the United States trustee not convene a
meeting of creditors or equity security holders if the debtor has
filed a plan as to which the debtor solicited acceptances prior
to the commencement of the case."

The purpose of the 341 Meeting is to provide parties-in-interest
with a meaningful opportunity to examine the debtor and obtain
important information about the debtor.

John J. Rapisardi, Esq., at Cadwalader, Wickersham & Taft LLP, in
New York, notes that, in this case, parties-in-interest have
negotiated and agreed upon a restructuring of the Debtors'
pursuant to the Plan, acceptances of which was solicited prior to
the Petition Date.  Accordingly, parties-in-interest are not
likely to receive any significant benefit from the 341 Meeting,
he asserts.

In this regard, the Debtors ask the Court to direct the U.S.
Trustee not to convene a meeting of creditors or equity security
holders provided that the Plan effective date occurs on or before
June 28, 2010.

The Debtors also ask the Court to direct the U.S. Trustee not to
appoint a committee of creditors or equity security holders in
their Chapter 11 cases provided that the Effective Date occurs
before June 28.

                   About Xerium Technologies

Based in Raleigh, North Carolina, Xerium Technologies, Inc. (NYSE:
XRM), manufactures and supplies two types of consumable products
used primarily in the production of paper: clothing and roll
covers.  The Company, which operates around the world under a
variety of brand names, utilizes a broad portfolio of patented and
proprietary technologies to provide customers with tailored
solutions and products integral to production, all designed to
optimize performance and reduce operational costs.  With 32
manufacturing facilities in 13 countries around the world, Xerium
has approximately 3,300 employees.

Xerium Technologies and certain subsidiaries filed for Chapter 11
on March 30, 2010 (Bankr. D. Del. Lead Case No. 10-11031).  Judge
Kevin J. Carey presides over the cases.  John J. Rapisardi, Esq.;
George A. Davis, Esq.; and Sharon J. Richardson, Esq., at
Cadwalader, Wickersham & Taft LLP; and Mark D. Collins, Esq., at
Richards, Layton & Finger, P.A., serve as bankruptcy counsel.
Brian Fox, Michelle Campbell, and Michael Hartley at AlixPartners,
LLC, serve as the Debtors' restructuring advisors.  Stephen Ledoux
and Daniel Gilligan at Rothschild Inc. serve as the Debtors'
investment bankers.  Garden City Group Inc. is the Debtors' claims
agent.  Xerium Technologies disclosed total assets of $693,511,000
and total debts of $813,168,000 in its petition.

Bankruptcy Creditors' Service, Inc., publishes XERIUM TECHNOLOGIES
BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by Xerium Technologies and its various affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


ZALE CORP: Citi Canada to End Credit Card Program on June 30
------------------------------------------------------------
In its Form 10-Q for the quarter ended January 31, 2010, Zale
Corporation disclosed that it was expecting to receive written
notice of termination from Citi Cards Canada Inc. related to the
Private Label Credit Card Program Agreement, dated as of March 1,
2007, between Citibank and Zale Canada Co., one of the Company's
wholly owned subsidiaries.  On April 1, 2010, the subsidiary
received the notice of Citibank's intent to terminate the
Agreement effective June 30, 2010.  The Company has initiated
discussions with other parties with respect to new customer
financing arrangements to replace the Agreement when it expires.

Under the Agreement, Citibank provides financing for the Company's
Canadian customers to purchase merchandise through private label
credit cards.  The Agreement also enables the Company to write
credit insurance for its Canadian customers.

                         About Zale Corp.

Dallas, Texas-based Zale Corporation (NYSE: ZLC) --
http://www.zalecorp.com/-- is a specialty retailer of diamonds
and other jewelry products in North America, operating roughly
1,900 retail locations throughout the United States, Canada and
Puerto Rico, as well as online.  Zale Corporation's brands include
Zales Jewelers, Zales Outlet, Gordon's Jewelers, Peoples
Jewellers, Mappins Jewellers and Piercing Pagoda.  Zale also
operates online at www.zales.com, www.zalesoutlet.com and
www.gordonsjewelers.com

As reported by the Troubled Company Reporter on February 10, 2010,
The Deal.com's Sara Behunek reported that analysts said bankruptcy
looms for Zale if it fails to restructure its debt and put in
place a solid merchandising strategy.


ZALE CORP: Has Until April 30 to Pay $6 Mil. to Citi-South Dakota
-----------------------------------------------------------------
Zale Corp. disclosed that Citibank (South Dakota), N.A., would
terminate a Merchant Services Agreement, dated as of July 10,
2000, between Citibank and two of the Company's wholly owned
subsidiaries, in 180 days, unless the Company paid Citibank
approximately $6 million on or before April 1, 2010 for a
shortfall to the minimum volume of credit sales as set forth in
the Agreement.  On March 29, 2010, Citibank and the Company agreed
to extend the April 1, 2010 payment deadline to April 30, 2010.

The Company continues to evaluate available alternatives to the
Agreement.

                         About Zale Corp.

Dallas, Texas-based Zale Corporation (NYSE: ZLC) --
http://www.zalecorp.com/-- is a specialty retailer of diamonds
and other jewelry products in North America, operating roughly
1,900 retail locations throughout the United States, Canada and
Puerto Rico, as well as online.  Zale Corporation's brands include
Zales Jewelers, Zales Outlet, Gordon's Jewelers, Peoples
Jewellers, Mappins Jewellers and Piercing Pagoda.  Zale also
operates online at www.zales.com, www.zalesoutlet.com and
www.gordonsjewelers.com

As reported by the Troubled Company Reporter on February 10, 2010,
The Deal.com's Sara Behunek reported that analysts said bankruptcy
looms for Zale if it fails to restructure its debt and put in
place a solid merchandising strategy.


ZALE CORP: Centerbridge, TPG and Golden Gate in Bidding War
-----------------------------------------------------------
The New York Post's James Covert reports that Centerbridge
Partners has joined a bidding war for a stake in Zale Corp.  The
Post has learned that Centerbridge -- which is already involved in
a battle to acquire the Extended Stay hotel chain -- has sent
representatives to Zale's headquarters in Dallas to discuss a
potential investment.

Sources also told the Post that Zale is slated to meet with
representatives from TPG and Golden Gate Capital.

"It looks like a three-horse race now," one person close to the
talks told the Post, noting that others, including Sun Capital and
Apollo Management, appear to have dropped out after making "low-
ball" offers.

The Post says Zale is looking to raise as much as $150 million to
fund operations as the banking crisis has limited financing
options.  The Post also says the deal is expected to come within
the next two weeks, and the winning bidder is likely to get seats
on Zale's boat, as well as warrants for new stock that will dilute
current shareholders.

According to the Post, Centerbridge -- headed by buyout kings
Jeffrey Aronson and former Blackstone partner Mark Gallogly --
didn't respond to requests for comment.


ZAYAT STABLES: Files Suit vs. Fifth Third Over Default Notice
-------------------------------------------------------------
Janet Patton at The Lexington (Ky.) Herald-Leader reports Ahmed
Zayat has filed an adversary complaint Monday, asking U.S.
Bankruptcy Judge Donald H. Steckroth of the U.S. Bankruptcy Court
for the District of New Jersey to hold Fifth Third Bank to
promises the bank allegedly made in July 2009 to restructure loans
made to Mr. Zayat.

Herald-Leader says the bank claims Mr. Zayat defaulted on a loan
payment, and he now owes the entire outstanding principal -- more
than $34 million as of February -- lent to him to build his racing
stable.  The report recalls that the bank, to satisfy the debt,
sought to take over his stable of more than 200 horses, including
Eskendereya.  Mr. Zayat declared bankruptcy in New Jersey in
February to block that move.

Ms. Patton reports that Mr. Zayat wants the Court to declare that
the default declaration is void and that "no principal, interest,
default interest or other payments are presently due and owing
from Zayat Stables to the Bank with respect to the loans."

The report also notes Mr. Zayat asked the Court for compensatory,
consequential and punitive damages for "multimillion-dollar lender
liability claims arising out of a long-standing pattern of
misleading, deception and predatory lending practices."

The report also notes that Mr. Zayat said in his suit the bank
continually reassured him they had a deal in place, even after
sending a notice of default in late August.  Based on those
reassurances, Mr. Zayat withdrew horses from sales at Keeneland.
He had planned to sell those horses to make loan payments.

The report also recalls the Court in March approved a plan worked
out by Mr. Zayat and the bank to continue stable operations
through May 1, the day of the Kentucky Derby at Churchill Downs in
Louisville.

The report further relates the Kentucky Horse Racing Commission
has ruled there is no reason to suspend Mr. Zayat's license to
race in Kentucky based on information that he lent money to two
brothers who later were convicted of bookmaking.

                        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.


* Keith Northern Named One of People to Watch-2010
--------------------------------------------------
Keith Northern, Managing Director with NHB Advisors, Inc., has
been recognized as one of the few "People to Watch -2010" in the
country by the nationally respected publication Turnarounds &
Workouts.  Mr. Northern is the chief of the Auto Dealer Group.
Expert in Auto Dealer industry operating and providing cash flow
enhancement and control.  Appointed receiver and/or liquidating
agent for 50+ domestic and internationally franchised dealerships
for Ford, Chrysler, GM, Toyota, and Hyundai, as well as high-end
distributors Bentley and Lamborghini.  NHB Advisors was honored in
2009 for "Outstanding Turnaround Firms" with a record 15th
consecutive appearance on the list, cementing the firm's
reputation as "The Premier Middle Market Turnaround Firm".

                         About NHB Advisors

NHB Advisors, Inc. -- http://www.nhbteam.com/-- is a turnaround
and crisis management firm.  It provides financial advisory,
investment banking and fiduciary services to financially
challenged companies throughout America.


* Nicholas Barrett & Associates Promotes Atty. Patricia Davis
-------------------------------------------------------------
Nicholas Barrett Esq., President and founder of Nicholas Barrett &
Associates, (NBA) disclosed the promotion of Attorney Patricia A.
Davis to Senior Real Estate Manager.  Ms. Davis concentrates in
the areas of bankruptcy, title law, foreclosure, evictions and
real estate transactional law and will be assuming many of the
responsibilities previously handled by Thomas Iddings, who left
the firm to pursue his consulting business.

"We're privileged to have so many dedicated and talented attorneys
in our midst at Nicholas Barrett & Associates," added Barrett.
"Pat has demonstrated distinction in her field and has played an
important role in helping NBA achieve widespread recognition for
its commitment to excellence.  Our clients are sure to benefit
from her new and enhanced role within the firm."

Ms. Davis received her B.S. from Providence College and her J.D.
from Northeastern University School of Law.  She is a member of
the American Bankruptcy Institute and is licensed to practice in
RI, MA, and CT. She joined NBA in 2007 and has held various
positions of responsibility during her tenure.

Nicholas Barrett & Associates was recently honored as a back-to-
back winner of the prestigious LPS Default Solutions Summit Award.
As both a 2007 and 2008 recipient, NBA is the only firm in New
England to receive such a distinction for excellence in
Foreclosure and Bankruptcy.

              About Nicholas Barrett & Associates

Over the last three decades, Nicholas Barrett & Associates has
evolved into a premier creditor's rights firm dedicated to the
representation of the mortgage banking industry.  NBA has been
recognized consistently for its performance by industry
outsourcers as well as their clients throughout New England in the
areas of Foreclosure, Bankruptcy, Evictions, Collections
(commercial and consumer), Origination and REO Closings, and Real
Estate Litigation.


* Winston Bankruptcy Partner Jumps to Cooley
--------------------------------------------
Former Winston & Strawn LLP partner Keith A. McDaniels has joined
the bankruptcy and restructuring practice at Cooley Godward
Kronish LLP, where he will focus on representing creditors
committees and debtors, according to Bankruptcy Law360.


* BOOK REVIEW: Rupert Murdoch: Creator of a Worldwide Empire
------------------------------------------------------------
Author: Jerome Tuccille
Publisher: Beard Books
Softcover: 304 pages
List Price: $34.95

With his recent purchase of the Dow Jones Company, parent company
of the Wall Street Journal, Rupert Murdoch added another piece to
his global communications empire and again showed why he is the
preeminent media mogul in the world.

While many books have been written about Murdoch, Rupert Murdoch:
Creator of a Worldwide Empire, is among the most enlightening
because it was written in 1989 and chronicles Murdoch's activities
during the 1980s, a critical period of time when he built his
empire in the United States.  It was a time when Murdoch "bought
and sold properties with dizzying speed," notes the author.  Two
of the most notable acquisitions were his purchase of Twentieth
Century Fox from Marvin Davis and the purchase of Triangle
Publications from Walter Annenberg, but many other acquisitions
are recounted in this fascinating book.  It was also a time when
Murdoch fiercely battled regulators, legislators, labor unions,
competitors, and even public opinion. These battles are recounted
also.

In writing Rupert Murdoch: Creator of a Worldwide Empire, the
author had access to a multitude of sources inside and outside the
Murdoch organization, including Murdoch himself.  Tucille
demonstrates Murdoch's mastery at taking advantage of tax and
financing techniques to borrow more than his rivals without
diluting the value of his holdings.

Murdoch's business acumen allowed him to continually outbid and
outmaneuver the competition to compile a media conglomerate that,
in the United States, includes The Boston Herald and The New York
Post newspapers; New York, TV Guide, and Seventeen magazines; the
HarperCollins publishing house, 20th Century Fox Film Corporation;
the Fox television network, and numerous Fox television stations
around the country.

Murdoch's international assets include the Times of London
newspaper and dozens of newspapers and magazines in his native
Australia.  Murdoch has often been compared to William Randolph
Hearst, but Tucille counters that Murdoch is his own man and, in
point of fact, has achieved a larger measure of success.  At the
time of this book's writing, Murdoch controlled a media empire of
$12 billion.  Hearst's holdings, adjusted to 1989 dollars, would
be approximately $700 million.

With the acquisition of The Wall Street Journal, Murdoch's
combined news, entertainment and Internet enterprises (he also
recently added the MySpace web site to his holdings) are now
valued at $68 billion.

Tucille dispels many of the myths about the man.  The author finds
Murdoch to be in the mold of the old publishing barons, who are
motivated to construct an empire through savvy acquisitions and
then by building readership and viewership.  Murdoch does not
acquire assets with the intent of breaking them down, disposing of
them, and quickly turning a profit.  He is a "builder"
entrepreneur who makes his assets stronger and more valuable.
Murdoch is also a risk-taker or, as some have characterized him,
as a gambler extraordinaire who, through a combination of luck and
good timing, has been able to build an empire although seemingly
overpaying for assets.  The author notes, however, that ". . . no
one's luck lasts that long.Murdoch -- like most successful people
-- makes his own luck through hard work and effort, by hiring the
right people to do the job and replacing them quickly when they
fail."

Jerome Tuccille has written more than 20 books, including a
biography of Alan Greenspan.



                           *********

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 ***