TCR_Public/100413.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

             Tuesday, April 13, 2010, Vol. 14, No. 101

                            Headlines

944 MEDIA: Case Summary & 20 Largest Unsecured Creditors
ABITIBIBOWATER INC: Asks Court for Permission to Sell Mills
ABITIBIBOWATER INC: Gets Court Approval to Reject Contracts
AGA MEDICAL: S&P Removes Rating From Watch Pos., Affirms B+ Rating
AGE REFINING: U.S. Trustee Forms 3-Member Creditors Committee

AGE REFINING: Files Recovery Plan Giving Lenders Stock for Debt
AGL LIFE: S&P Keeps Counterparty Credit Rating at 'BB+'
AIG BAKER DEPTFORD: In Ch. 11 After Parent Lost Funding
AMBAC FINANCIAL: Soars 86% After Profit, Bankruptcy Warning
AMERICAN INT'L: Fairholme Discloses 15-Mil. Share Stake

AMR CORP: CEO Arpey Says UAL-USAir Merger Not a Problem
ANAVERDE LLC: Plan Confirmation Hearing Set for April 19
ANDERSON HOMES: Can Sell Lots to Garman Homes and D.R. Horton
ANTHONY BOVA: Places Restaurant Ventures with Rothstein in Ch. 7
ARTISAN HOTEL: Court Converts Case to Chapter 7 Liquidation

ASCENDIA BRANDS: Proposes Protocol to Settle Avoidance Actions
BANKUNITED FINANCIAL: Gets Extension of Time to File Plan
BLANCA LLC: Cash Collateral Hearing Scheduled for April 20
BLOSSOM VALLEY: Court Continues Cash Collateral Hearing on May 10
BOESER INC: Gets Court's Interim Nod to Use Cash Collateral

BOND RANCH: Seeks Chapter 11 Protection in Phoenix
BOZEL S.A.: Case Summary & 12 Largest Unsecured Creditors
BUELLTON CONNOLLY: Voluntary Chapter 11 Case Summary
CALIFORNIA COASTAL: Nasdaq to Delist Stock April 27
CALVARY BAPTIST: Voluntary Chapter 11 Case Summary

CANWEST GLOBAL: CCAA Stay Period Extended Until June 30
CATALINA INDUSTRIES: U.S. Trustee Forms 3-Member Creditors Panel
CF CAPITAL: Voluntary Chapter 11 Case Summary
CHARTER COMMUNICATIONS: S&P Assigns 'BB+' Issue-Level Rating
CITIGROUP INC: To Issue Euro- and British Pound-Denominated Notes

COACH AMERICA: Non-Improvement Could Affect Moody's 'B3' Rating
COBALIS CORP: Court Confirms Plan of Reorganization
CONTINENTAL AIRLINES: Merger Talks Intended to Pressure Carrier
COUCHE-TARD INC: S&P Puts 'BB+' Rating on CreditWatch Negative
CRUCIBLE MATERIALS: Gets Nod to Disallow Pension Claims

CYPRESSWOOD SELF-STORAGE: Case Summary & Creditors List
DERRICK COLEMAN: Files for Chapter 7; Owes $4.7MM to Creditors
DEWOSKIN PROPERTIES: To Sell Three Commercial Industrial Assets
DOWNTOWN MAITLAND: Mercantile Bank Wants Bankr. Case Dismissed
DUMPLIN VALLEY: Voluntary Chapter 11 Case Summary

DYNAMIC BUILDERS: Section 341(a) Meeting Scheduled for May 4
DYNAMIC BUILDERS: Wants to Hire Ringstad & Sanders as Gen. Counsel
ENABLE TV: Voluntary Chapter 11 Case Summary
FAIRPOINT COMMS: Begins Filing Omnibus Claims Objections
FAIRPOINT COMMS: Objects to Pennsylvania DOR's $5.6-Mil. Claim

FAIRPOINT COMMS: Settles Line Sharing Issues with Great Works
FANITA RANCH: Files for Chapter 11 Protection in California
FELTON'S APPLIANCES: Case Summary & 2 Largest Unsecured Creditors
FERGUSON CONVALESCENT: Voluntary Chapter 11 Case Summary
FIDELITY PROPERTIES: Section 341(a) Meeting Scheduled for May 3

FIDELITY PROPERTIES: Taps Kosto & Potella as Bankr. Counsel
FONTAINEBLEAU LAS VEGAS: Wants Case Converted to Chapter 7
FORUM HEALTH: To Lay Off 125 Worker Over the Next Few Months
FORUM HEALTH: Federal Judge Denies Severance Benefit to Pishkur
FREESCALE SEMICONDUCTOR: Fitch Rates $1.38 Bil. Notes at 'CCC/RR4'

FRENCH BROAD: Gets Interim Nod to Use Cash Collateral
FRONTIER COMMUNICATIONS: Unit Completes Offering of $3.2BB Notes
G. VILLA: Case Summary & 2 Largest Unsecured Creditors
GENERAL GROWTH: Antitrust Concerns Put Talks with Simon at Impasse
GENERAL MOTORS: Generates $1-Bil. in Cash After Bankruptcy Exit

GENERAL MOTORS: To Release Post-Bankruptcy Results Tomorrow
GENERAL MOTORS: Proposes Deloitte as Tax Advisor
GENERAL MOTORS: Wins Nod for Plante & Moran as Accountants
GENERAL MOTORS: Court Approves Brownfield's Modified Fees
GENERAL MOTORS: Asbestos Committee Wants Caplin as Counsel

GENERAL MOTORS: Asbestos Committee Wants Valuation Consultant
GIA TRAN: Case Summary & 2 Largest Unsecured Creditors
GMAC INC: ResCap to Sell European Mortgage Businesses
GODWIN CATALLA: Case Summary & 20 Largest Unsecured Creditors
GREAT ATLANTIC: Moody's Downgrades Default Rating to 'Caa3'

GREYSTONE PHARMA: Univ. of Tennessee Out of Creditors Committee
HARTFORD FIN'L: Brower Piven Commences Suit for Stock Holders
HOTEL EQUITY FUND V: Nevis Asks Court to Abstain Ch. 11 Hearing
HOTELS UNION: DekaBank Wants Dismissal of Chapter 11 Bankr. Case
HOTELS UNION: DekaBank Wants to File Own Plan for Debtor

INDUSTRY WEST: Plan Confirmation Hearing Set for April 23
INFOLOGIX INC: Appoints Melvin Keating to Board of Directors
INFOLOGIX INC: Amends Loan and Security Agreement with Hercules
INFOLOGIX INC: Delays 10-K; Expects Wider Net Loss, Going Concern
INNATECH LLC: Gets Court's Interim Nod to Use Cash Collateral

INTERVEST BANCSHARES: Defers Payments on Trust Preferred Shares
JEAN JALLIFIER: Voluntary Chapter 11 Case Summary
JOHN MCMAHAN: Case Summary & 10 Largest Unsecured Creditors
KENDALL COUNTY: Case Summary & 3 Largest Unsecured Creditors
KENNETH GOOD: Plan Position Estopped Secured Claim Objection

KIRK HUDSON: Case Summary & 20 Largest Unsecured Creditors
KREUNEN DEVELOPMENT: Section 341(a) Meeting Scheduled for May 17
L RAMON: Section 341(a) Meeting Scheduled for May 4
L RAMON: Taps Shulman Hodges as Bankruptcy Counsel
LATHAM INTERNATIONAL: Robert Troisio Appointed as Fee Examiner

LEHMAN BROTHERS: Euro Unit to Settle Small Claims of Up to $10,000
LENNOX INTERNATIONAL: Moody's Reviews 'Ba1' Corp. Family Rating
LEXICON UNITED: Delays Filing of Annual Report on Form 10-K
LIFECARE HOLDINGS: Swings to $2.962 Million Net Income for 2009
LIQUIDATION OUTLET: Gets Interim Okay to Use Cash Collateral

LOWER BUCKS: Has Access to BoNY Cash Collateral Until July 2
MARKET DEVELOPMENT: Section 341(a) Meeting Scheduled for May 10
MECHANICAL TECHNOLOGY: Reports Net Loss for 3rd Consecutive Year
MERIDIAN RESOURCE: Delays 10-K; Expects $73-Mil. 2009 Net Loss
MERIDIAN RESOURCE: Hires Counsel for Possible Bankruptcy Filing

METALS USA: S&P Raises Rating to 'B-'; Retains Positive Watch
MICHAEL MARIX: Voluntary Chapter 11 Case Summary
MIDWEST BANC: Annual Stockholders Meeting Slated for May 26
MIDWAY GAMES: Has Until May 14 to Propose Plan of Liquidation
MTD INVESTMENTS: Case Summary & 20 Largest Unsecured Creditors

NATIONAL COAL: To Sell New River Assets to Pay Off Defaulted Loan
NEFATITI ANDERSON: Voluntary Chapter 11 Case Summary
NEXTMEDIA GROUP: Court Confirms Plan of Reorganization
NFR ENERGY: Moody's Assigns 'Caa1' Rating on $150 Mil. Notes
NFR ENERGY: S&P Affirms 'B' Rating on Senior Unsecured Notes

NORTEL NETWORKS: Disabled Workers Will Ask to Void Settlement
NUVEEN INVESTMENTS: Posts Net Loss for Second Straight Year
OAKWOOD FOOD: Case Summary & 2 Largest Unsecured Creditors
ORANGE GROVE: Section 341(a) Meeting Scheduled for May 10
ORANGE GROVE: Wants to Hire Wilson & Associates as Bankr. Counsel

OSI RESTAURANT: Dec. 31 Balance Sheet Upside-Down by $126.8-Mil.
PACIFIC ETHANOL: Socius Returns 1,183,738 Shares
PALM INC: Taps Goldman and Qatalyst Partners to Find Buyer
PHILADELPHIA NEWSPAPERS: Creditors' Request for Rehearing Denied
PREFERRED PROPERTIES: Sec. 341(a) Meeting Scheduled for April 30

RICHARD FUSCONE: Voluntary Chapter 11 Case Summary
RJ YORK SSG: Federal Judge Dismisses Unit's Bankruptcy Case
ROTHSTEIN ROSENFELDT: Business Partner Anthony Bova Files Ch. 7
SAPPHIRE NATIONAL: Textron Wants Chapter 11 Case Dismissed
SECURITY FINANCE: Voluntary Chapter 11 Case Summary

SENSATA TECHNOLOGIES: To Redeem 11.25% Notes and 8% Notes
SENSATA TECHNOLOGIES: OKs Cash Discretionary Bonuses to 6 Execs
SIX FLAGS: Bondholders Approached Cedar Fair Investor for Merger
SNP BOAT: Chapter 15 Case Summary
SOUTHRIDGE GOLF: Files for Bankruptcy Protection in Sacramento

STEINWAY MUSICAL: Moody's Gives Stable Outlook; Keeps 'B2' Rating
STONE/LIGHT, INC.: Case Summary & 20 Largest Unsecured Creditors
SUNOCO INC: Fitch Downgrades Rating on Subordinated Notes to 'BB+'
SUNESIS PHARMACEUTICALS: Board OKs Changes to 2009 Bonus Program
SUNESIS PHARMACEUTICALS: Credit Suisse Holds 3.51% of Common Stock

SUNESIS PHARMACEUTICALS: Bristol-Myers Holds 3.7% of Shares
SUNESIS PHARMACEUTICALS: Deerfield Holds 1.33% of Common Stock
SYNCORA HOLDINGS: Insurance Unit Closes Transaction
TAGISH LAKE: Obtains Creditor Protection in Canada
TAMARACK RESORT: Case Converted to Chapter 11 Reorganization

TAPATIO SPRINGS: Case Summary & 20 Largest Unsecured Creditors
TELCORDIA TECHNOLOGIES: Moody's Affirms 'B3' Corp. Family Rating
TERRA ENERGY: Delays Filing of Annual Report on Form 10-K
THUY VO: Case Summary & 16 Largest Unsecured Creditors
TLC VISION: Files Fourth Amended Plan of Reorganization

TMS EQUIPMENT: Voluntary Chapter 11 Case Summary
TREY RESOURCES: Reports $1,540,372 Net Loss for 2009
TRIBUNE COMPANY: Files Plan of Reorganization
TROCK, L.P.: Voluntary Chapter 11 Case Summary
TRUMP ENTERTAINMENT: Court Confirms Mgt. & Bondholders' Plan

UAL CORP: Merger Talks With US Air Have Become "Very Serious"
US AIR: Merger Talks With United Have Become "Very Serious"
VIASPACE INC: Reports $2.9 Million Net Loss for 2009
VISTEON CORP: Creditors Want Plan Exclusivity Ended
VISTEON CORP: Equity Holders Want Sec. 1104(c)(2) Examiner

VISTEON CORP: Proposes to Sell Two Plants to JCI for $17-Mil.
WASHINGTON MUTUAL: Probe Faults OTS, FDIC Over Collapse
WII COMPONENTS: Swings to $15,183,000 Net Loss for 2009
WILLBROS UNITED: Moody's Assigns 'B2' Corporate Family Rating
WILLBROS GROUP: S&P Assigns 'BB-' Corporate Credit Rating

WISH I: Section 341(a) Meeting Scheduled for April 29
WOODWORTHY, INC.: Case Summary & 20 Largest Unsecured Creditors

* Company Credit Risk Index Falls as Wholesale Inventories Climb
* Junk Bonds Grab Record Share as Yields Tumble

* Large Companies With Insolvent Balance Sheets


                            *********


944 MEDIA: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: 944 Media, LLC
        dba 944 Magazine
            944 Dot Com
            944
        fka 944 Media, Inc.
        9100 Wilshire Blvd., Suite 700 W
        Beverly Hills, CA 90212

Bankruptcy Case No.: 10-23240

Chapter 11 Petition Date: April 6, 2010

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

Judge: Victoria S. Kaufman

Debtor's Counsel: Michael I Gottfried, Esq.
                  Landau Gottfried & Berger LLP
                  1801 Century Park E, Suite 1460
                  Los Angeles, CA 90067
                  Tel: (310) 557-0050
                  Fax: (310) 557-0056

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

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

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/cacb10-23240.pdf

The petition was signed by Marc Lotenberg, company CEO.


ABITIBIBOWATER INC: Asks Court for Permission to Sell Mills
-----------------------------------------------------------
Carla Main at Bloomberg News reports that AbitibiBowater, Inc. is
asking the U.S. Bankruptcy Court in Wilmington, Delaware, for
permission to sell four decommissioned mills.  According to the
report, AbitibiBowater wants the court to allow its units Bowater
Maritimes Inc., Bowater Canadian Forest Products Inc., and
Abitibi-Consolidated Company of Canada to enter into a sale
agreement with American Iron and Metal LP, a metals scrap company,
for the four mills.  The Debtor, Bloomberg relates, "expects to
realize" $8 million (Canadian) for the sale of the mills, "plus
40% of any subsequent sale of mill equipment."

                     About AbitibiBowater Inc.

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

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

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

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

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


ABITIBIBOWATER INC: Gets Court Approval to Reject Contracts
-----------------------------------------------------------
Carla Main at Bloomberg News reports that AbitibiBowater Inc.
received approval to reject two leases between unit Bowater Inc.
and Avaya Financial Services for telephone system equipment at the
company's Albertville location effective as of March 29.  No
objections were made to the Debtors' request.

                     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).


AGA MEDICAL: S&P Removes Rating From Watch Pos., Affirms B+ Rating
------------------------------------------------------------------
Standard & poor's Ratings Services said that it has removed its
ratings for AGA Medical Corp. from CreditWatch, where they were
placed with positive implications on Oct. 8, 2009.  The 'B+'
corporate credit rating is affirmed, and the outlook is stable.
While the settlement removes near-term liquidity risk (the company
could have been required to post a bond in the event of an adverse
court outcome), the company's scale and limited cash flow
generation, in S&P's opinion, preclude a higher rating within one
year's time.

"S&P's noninvestment-grade ratings on AGA Medical Corp. reflect
the company's narrow product line of medical devices, largely
treating structural heart defects, and relatively modest-sized
revenue base.  AGA Medical faces risks posed by competition,
regulation, and patent litigation," said Standard & Poor's credit
analyst Cheryl Richer.  While adjusted debt leverage was
materially reduced as a result of the October 2009 IPO, it remains
aggressive.  The company benefits from a leading market presence,
geographic diversity (60% of sales are from outside the U.S.), and
improving operations.

AGA Medical designs, develops, and manufactures closure devices
that are percutaneously introduced into the heart using the
company's ancillary products, such as delivery systems, sizing
balloons, and guidewires.  While its portfolio of products is
gradually expanding, AGA Medical has product concentration in
occlusion devices.  Septal occluders and patent foramen ovale
occluders are roughly 55% and 15% of sales, respectively.
Vascular devices, all other devices, and ancillary products
(including delivery devices) are 7%, 12%, and 12% of sales,
respectively.  The company introduced cardiac plugs (in Europe),
and a line of vascular grafts is under development.


AGE REFINING: U.S. Trustee Forms 3-Member Creditors Committee
-------------------------------------------------------------
Charles F. McVay, U.S. Trustee for Region 7, appointed three
members to the official committee of unsecured creditors in the
Chapter 11 case of Age Refining, Inc.

The Creditors Committee members are:

1. Big Star Gathering, LLP
   Attn: James L. Jensen
   11177 Eagle View Drive, Suite 150
   Sandy, UT 84092
   Tel: (801) 576-1154
   Fax: (801) 576-0577 Fax
   E-mail: james@stjamesenergy.com

2. Truth Resources, L.P.
   Attn: John M. Fetzer
   440 Louisiana, Suite 900
   Houston, TX 77002
   Tel: (713) 236-7761
   Fax: (713) 236-7709 Fax
   E-mail: jfetzer@truthresources.net

3. T-C Oil Company
   Attn: Bland Proctor
   427 FM 774
   Refugio, TX 78377
   Tel: (361) 575-0596
   Fax: (361) 576-6890
   E-mail: b.proctor@oconnorbraman.net

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

                     About Age Refining, Inc.

Age Refining, Inc., based in San Antonio, Texas, manufactures,
refines and markets jet fuels, diesel products, solvents and other
highly specialized fuels.  The Company's clients cover a variety
of sectors, including commercial, local municipalities and the
federal government.  Founded in 1991 by Al Gonzalez, AGE is a
family owned and operated business in the heart of the San Antonio
community.  Starting on a shoe-string budget and a bushel of
determination, AGE is proud to have posted over 22% growth per
year since 1991.

The Company filed for Chapter 11 bankruptcy protection on
February 8, 2010 (Bankr. W.D. Texas Case No. 10-50501).  Aaron
Michael Kaufman, Esq.; Carol E. Jendrzey, Esq.; and Mark E.
7Andrews, Esq., at Cox Smith Matthews Incorporated, assist the
Company in its restructuring effort.  The Company listed
$10,000,001 to $50,000,000 in assets and $100,000,001 to
$500,000,000 in liabilities in its bankruptcy petitoin.


AGE REFINING: Files Recovery Plan Giving Lenders Stock for Debt
---------------------------------------------------------------
Carla Main at Bloomberg News reports that AGE Refining Inc. filed
a Chapter 11 plan that would either give lenders control of the
company in exchange for debt or sell its assets.

AGE, according to Bloomberg, was forced to seek bankruptcy
protection after JPMorgan Chase Bank NA refused to renew or extend
additional letters of credit causing its suppliers, who required
the credit's security, to stop delivering new shipments of crude
oil.

According to the report, to secure financing for its
reorganization, AGE agreed to get court approval of auction
procedures to see whether selling the Company could provide more
value to creditors, according to court documents.  The Company won
court approval of the auction guidelines on March 8.

                        About Age Refining

Age Refining, Inc., based in San Antonio, Texas, manufactures,
refines and markets jet fuels, diesel products, solvents and other
highly specialized fuels.  The Company's clients cover a variety
of sectors, including commercial, local municipalities and the
federal government.  Founded in 1991 by Al Gonzalez, AGE is a
family owned and operated business in the heart of the San Antonio
community.  Starting on a shoe-string budget and a bushel of
determination, AGE is proud to have posted over 22% growth per
year since 1991.

The Company filed for Chapter 11 bankruptcy protection on
February 8, 2010 (Bankr. W.D. Texas Case No. 10-50501).  Aaron
Michael Kaufman, Esq.; Carol E. Jendrzey, Esq.; and Mark E.
7Andrews, Esq., at Cox Smith Matthews Incorporated, assist the
Company in its restructuring effort.  The Company listed
$10,000,001 to $50,000,000 in assets and $100,000,001 to
$500,000,000 in liabilities.


AGL LIFE: S&P Keeps Counterparty Credit Rating at 'BB+'
-------------------------------------------------------
Standard & Poor's Ratings Services said it kept its 'BB-'
counterparty credit and financial strength ratings on AGL Life
Assurance Co. on CreditWatch with developing implications.  The
ratings on The Phoenix Cos.  Inc. (CCC+/Negative/--) and its other
subsidiaries are unaffected.

S&P had placed its ratings on AGL on CreditWatch developing on
Jan. 6, 2010.  This followed The Phoenix Cos.  Inc.'s (NYSE:PNX)
announcement that it signed a definitive agreement with Tiptree
Financial Partners LP for Tiptree to acquire PNX's private
placement insurance business, PFG Holdings Inc., including its
subsidiaries, Philadelphia Financial Group Inc. and AGL.

"At the time of PNX's announcement, S&P revised the group status
of AGL to nonstrategic from core based on S&P's group methodology
criteria," said Standard & Poor's credit analyst Adrian Pask.  "In
most instances, nonstrategic entities are rated on a purely stand-
alone basis, with no ratings uplift for group support."

S&P will evaluate AGL's financial strength and counterparty credit
characteristics on a stand-alone basis, as well as the plans of
its new ownership.  This evaluation could lead to either an
upgrade or a downgrade of AGL following a review of its
prospective business and financial profile.


AIG BAKER DEPTFORD: In Ch. 11 After Parent Lost Funding
-------------------------------------------------------
AIG Baker Deptford filed for Chapter 11 on April 1, 2010 (Bankr.
N.D. Ala. Case No. 10-02059).

AIG Baker Deptford, an affiliate of Birmingham-based AIG Baker
Shopping Center Properties, owns the shopping center Deptford
Landing.  Deptford Landing is a two-year-old 500,000 square foot
shopping center southeast of Philadelphia.

Birmingham Business Journal reports that AIG Baker started showing
signs of trouble on its retail ventures last year after its
partner, American International Group Inc., teetered on the edge
of bankruptcy before a major federal bailout, according to the
Wall Street Journal.  After the bailout, AIG stopped funding
portions of AIG Baker's projects.

Andre' M. Toffel, Esq., at Birmingham, Alabama, represents the
Debtor.

The petition said that assets and debts are between $10,000,001
and $50,000,000.


AMBAC FINANCIAL: Soars 86% After Profit, Bankruptcy Warning
-----------------------------------------------------------
Bloomberg News reported April 12 that Ambac Financial Group Inc.
jumped as much as 86% in New York trading after reporting fourth-
quarter net income of $558.1 million amid a tax benefit and
unrealized gains on derivatives.  Ambac released its financial
results April 8.  The Company also said it has "insufficient
capital" to finance itself past the second quarter of next year
and may need to file for bankruptcy.

According to the report, the insurer said its main unit received a
$443.9 million tax refund as a result of U.S. legislation that
passed last quarter, allowing it to use recent losses to offset
past levies.

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.

                        About Ambac Financial

Headquartered in New York, Ambac Financial Group, Inc., through
its subsidiaries, provided financial guarantees and financial
services to clients in both the public and private sectors around
the world.

The Company's balance sheet as of December 31, 2009, showed
$18.886 billion in assets and $20.520 billion in debts, resulting
in a stockholders' deficit of $1.634 billion.

The Company reported a net loss of $14.6 million on $3.911 billion
of revenue for 2009, compared with a net loss of $5.609 billion on
($2.753) billion of revenue for 2008.

KPMG LLP, in New York, expressed substantial doubt about the
Company's ability to continue as a going concern.  The independent
auditors noted that the significant deterioration of the
guaranteed portfolio coupled with the inability to write new
financial guarantees has adversely impacted the business, results
of operations and financial condition of the Company's operating
subsidiary.  KPMG also noted that of the Company's limited
liquidity.


AMERICAN INT'L: Fairholme Discloses 15-Mil. Share Stake
-------------------------------------------------------
Bloomberg News reports that Bruce Berkowitz's Fairholme Capital
Management bought about 15 million shares of American
International Group Inc. as the investor bet on a rebound of the
bailed-out insurer.  The holding is second in size only to the
U.S. government's stake of about 80%, according to data compiled
by Bloomberg.  The investment was disclosed April 12 in a filing
listing holdings as of March 31.  Fairholme began acquiring the
securities in the second half of 2009 "as we started to see cash
flows of AIG turn positive," Mr. Berkowitz said in a March 15
interview with Bloomberg.  "It is still a good company with a good
global brand."  The stake was more than 13 million shares, Mr.
Berkowitz said at that time.

According to Bloomberg, the 15 million shares are valued at about
$620 million based on April 12's price of $41.22 on the New York
Stock Exchange at 4:15 p.m. in composite trading.  The stock has
gained about 37% this year.

                             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.


AMR CORP: CEO Arpey Says UAL-USAir Merger Not a Problem
-------------------------------------------------------
Susan Carey and Dennis Berman at The Wall Street Journal report
that AMR Corp.'s CEO, Gerard Arpey, last week said he doesn't
believe a United Airlines-US Airways merger would be a problem for
his carrier.  AMR's American Airlines is currently No. 2 behind
Delta Air Lines by traffic.

Although fewer airlines probably would be better, the Journal
relates Mr. Arpey said, "I don't think necessarily consolidation
is the answer to all the economic challenges the industry faces.
I don't think it's a silver bullet."

The Journal also reports that a wild card in the United-US Airways
merger talks is what Continental Airlines might do if it is
threatened with becoming a very distant No. 4 in the airline
pecking order.  The Journal says some analysts believe the talks
became public as a way to pressure Continental to return to the
bargaining table with United.  Continental, which now has a
marketing alliance with United and is a member of the global Star
Alliance group that includes US Airways, declined to comment.

The Journal reports that merger talks between United and US
Airways have become "very serious," according to one person close
to the matter.  The source, however, told the Journal the talks
remain sensitive and it is just as likely the discussions will
fall apart as result in a done deal.  The person also said any
transaction would be an all-stock merger, with United being the
surviving entity.  The Journal relates the share premium to be
paid to US Airways shareholders hasn't been settled.  The Journal
also relates that another person familiar with the talks said the
two sides haven't yet agreed who would run the combination.

The Journal also reports that if the deal comes to fruition, it
would be announced within two or three weeks.  A third person
close to the situation, according to the Journal, suggested that
Glenn Tilton, UAL's chief executive officer, recently restarted
the talks, not his counterpart at US Airways, Doug Parker.

The Journal says Chicago-based United, the third-largest U.S.
airline by traffic, declined to comment.  US Airways, No. 6 and
based in Tempe, Ariz., also had no comment.  A merger deal would
create the second largest U.S. airline by traffic after Delta Air
Lines Inc.

                      About UAL Corporation

Based in Chicago, Illinois, UAL Corporation (NASDAQ: UAUA) --
http://www.united.com/-- is the holding company for United
Airlines, Inc.  United Airlines is the world's second largest air
carrier.  The airline flies to Brazil, Korea and Germany.

The company filed for Chapter 11 protection on Dec. 9, 2002
(Bankr. N.D. Ill. Case No. 02-48191).  James H.M. Sprayregen,
Esq., Marc Kieselstein, Esq., David R. Seligman, Esq., and Steven
R. Kotarba, Esq., at Kirkland & Ellis, represented the Debtors in
their restructuring efforts.  Fruman Jacobson, Esq., at
Sonnenschein Nath & Rosenthal LLP represented the Official
Committee of Unsecured Creditors.  Judge Eugene R. Wedoff
confirmed a reorganization plan for United on Jan. 20, 2006.  The
Company emerged from bankruptcy on Feb. 1, 2006.

Reorganized UAL Corp. carries a 'Caa1' probability of default
rating from Moody's, 'B-' long term foreign issuer credit rating
from Standard & Poor's, and 'CCC' long term issuer default rating
from Fitch.

                        About US Airways

US Airways -- http://www.usairways.com/-- along with US Airways
Shuttle and US Airways Express, operates more than 3,000 flights
per day and serves more than 190 communities in the U.S., Canada,
Mexico, Europe, the Middle East, the Caribbean, Central and South
America.

Under a Chapter 11 plan declared effective on March 31, 2003,
USAir emerged from bankruptcy with the Retirement Systems of
Alabama taking a 40% equity stake in the deleveraged carrier in
exchange for $240 million infusion of new capital.

US Airways and its subsidiaries filed another Chapter 11 petition
on September 12, 2004 (Bankr. E.D. Va. Case No. 04-13820).  Brian
P. Leitch, Esq., Daniel M. Lewis, Esq., and Michael J. Canning,
Esq., at Arnold & Porter LLP, and Lawrence E. Rifken, Esq., and
Douglas M. Foley, Esq., at McGuireWoods LLP, represented the
Debtors in their restructuring efforts.  The USAir II bankruptcy
plan became effective on September 27, 2005.  The Debtors
completed their merger with America West on the same date. (US
Airways Bankruptcy News; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).

                         *     *     *

As of December 31, 2009, US Airways had total assets of
$7,454,000,000, including $2,331,000,000 in total current assets,
against total current liabilities of $2,789,000,000 and total
noncurrent liabilities and deferred credits of $5,020,000,000,
resulting in $355,000,000 stockholders' deficit.

US Airways Group carries Moody's "Caa1" Long-Term rating, LT Corp.
family rating and probability of default rating.  Outlook is
negative.

US Airways Group carries Standard & Poor's "B-" LT Foreign Issuer
Credit rating and LT Local Issuer credit rating.  Outlook is also
negative.

US Airways Group carries Fitch's "CCC" LT Issuer default rating
and "C" Senior unsecured debt rating.  Outlook is also negative.

                       About AMR Corporation

Headquartered in Forth Worth, Texas, AMR Corporation (NYSE:
AMR) operates with its principal subsidiary, American Airlines
Inc. -- http://www.aa.com/-- a worldwide scheduled passenger
airline.  At the end of 2006, American provided scheduled jet
service to about 150 destinations throughout North America, the
Caribbean, Latin America, including Brazil, Europe and Asia.
American is also a scheduled airfreight carrier, providing
freight and mail services to shippers throughout its system.

Its wholly owned subsidiary, AMR Eagle Holding Corp., owns two
regional airlines, American Eagle Airlines Inc. and Executive
Airlines Inc., and does business as "American Eagle."  American
Beacon Advisors Inc., a wholly owned subsidiary of AMR, is
responsible for the investment and oversight of assets of AMR's
U.S. employee benefit plans, as well as AMR's short-term
investments.

At Dec. 31, 2009, AMR reported total assets of $25.438 billion,
including total current assets of $6.642 billion; against total
current liabilities of $7.728 billion, long-term debt, less
current maturities of $9.984 billion, obligations under capital
leases, less current obligations of $599 million, other
liabilities and credits of $10.616 billion; resulting in
stockholders' deficit of $3.489 billion.

                           *     *     *

AMR carries a 'CCC' issuer default rating from Fitch Ratings.  It
has 'Caa1' corporate family and probability of default ratings
from Moody's.  It has 'B-' corporate credit rating, on watch
negative, from Standard & Poor's.


ANAVERDE LLC: Plan Confirmation Hearing Set for April 19
--------------------------------------------------------
Anaverde LLC received approval from the U.S. Bankruptcy Court for
the District of Delaware of its disclosure statement explaining
its proposed Plan of Liquidation.

The Debtor has commenced the solicitation of votes for the Plan.
The deadline for returning completed ballots is 4:00 p.m.
prevailing Eastern Time on April 19, 2010.

A hearing to consider confirmation of the Plan is scheduled for
April 22, 2010, at 9:30 a.m. ET.  Objections, if any, to the
confirmation of the Plan is due on April 19, 2010, at 4:00 p.m.
ET.

Through a court-sanctioned auction, the Debtor is selling its
assets related to the second phase of a larger residential
development which includes 3,500 undeveloped lots and an adjacent
development known as Chanar planned for 157 single family home
sites, to New Anaverde LLC -- the stalking horse purchaser -- or
the bidder with the highest or best bid at the auction.

New Anaverde is under contract to buy the assets for a purchase
price of (i) $10,475,000; plus (ii) an amount equal to 12% per
annum, compounded annually, on $10,125,000 from December 24, 2009,
until $10,125,000 is disbursed to CADIM, but in no event more than
$948,699; plus (iii) CADIM's unreimbursed expenses of up to
$383,000; plus (iv) a right, payable in the future if at all, to
25% of the cash profits from sales of land included in the
project.

Under the Plan:

   -- CADIM, the lone holder of secured claim, has agreed to
      accept payment of $10,124,000 from the proceeds from the
      sale, plus other amounts, for a recovery of 15.8% to 16.4%.

   -- Holders of DIP credit facility claims in class 2 will
      recover 100% of their claims.  Holders of priority claims
      will also recover 100 cents on the dollar.

   -- Holders of general unsecured claims in class 5 will recover
      21% to 100%.  Holders of convenience class claims are
      estimated to recover 50%.

   -- Holders of subordinated claims, intercompany claims, and
      equity interests won't receive any distributions.

The Debtor is represented by:

     Christopher Simon, Esq.
     Kevin S. Mann, Esq.
     Cross & Simon, LLC
     913 North Market Street, 11th Floor
     P.O. Box 1380
     Wilmington, DE 19899-1380

San Francisco, California-based Anaverde LLC filed for Chapter 11
bankruptcy protection on January 15, 2010 (Bankr. D. Del. Case No.
10-10113).  The Company listed $10,000,001 to $50,000,000 in
assets and $50,000,001 to $100,000,000 in liabilities.


ANDERSON HOMES: Can Sell Lots to Garman Homes and D.R. Horton
-------------------------------------------------------------
The Hon. Stephani W. Humrickhouse of the U.S. Bankruptcy Court for
the Eastern District of North Carolina authorized Anderson Homes,
Inc., and its debtor-affiliates to sell properties.

The Debtors entered into two interrelated contracts with Garman
Homes, LLC, for the sale of 4 lots owned by Anderson and 19 lots
owned by Bridgewater Land Resource, LLC, a debtor-affiliate.  The
terms of the sale include:

   -- each lot will be sold for $40,000, for a total of $920,000;

   -- the closing costs and taxes for each lot would be $647, for
      a total of $14,881;

   -- the Debtors would pay brokers commission of $2,000 per lot
      to Bill Faucette, William Anderson and Keith Brown, the
      brokers who arranged the sale, for a total of $46,000;

   -- Paragon Commercial Bank, a lien holder in the sale
      properties, would receive $726,571; and

   -- the Debtors would receive $32,000 for payment or
      reimbursement of costs to complete, $87,142 for general
      operations, and $13,406 for deposit in the Plan reserve
      account.

In a separate order, the Court also authorized the sale of 16 lots
owned by Anderson and 28 lots owned by Land Resource Group of
Raleigh, Inc., a debtor-affiliate, to D.R. Horton, Inc.   D.R.
Horton agreed to purchase the properties for $1,236,125.  The
estimated closing cost is $20,240.  A $44,000 brokers commission
will be paid to Matthew Brubaker.  Regions Bank, holder of an
undisputed lien, will receive (i) $288,000 as the outstanding
principal balance advance on the sale properties; (ii) $321,000 of
additional adequate protection payments.  The Debtors would
receive $25,000 for payment or reimbursement of costs to complete,
$86,165 for deposit in the Plan reserve account, and $744,185 for
general operations and Plan distributions.  The transfer of liens
will enable the Debtors to convey clear title and preserve the
value of the sale properties.

                    About Anderson Homes, Inc.

Headquartered in Raleigh, North Carolina, Anderson Homes, Inc., et
al., are engaged in the development, construction and sale of
residential properties in the form of single-family homes,
townhomes and condominiums.  Said properties are held for sale to
the public and constitute the Debtors' inventory, which the
Debtors sell in the ordinary course of business.  The Debtors own,
construct improvements on, and sell (i) single-family houses and
townhomes in subdivisions known and referred to as Edgewater,
Bridgewater, Bridgewater West, Cobblestone, Haw Village,
Ridgefield, Amberlynn Valley, Cane Creek, Muirfield Village, Pine
Valley, Quail Meadows, Thornton Commons Place, Willow Ridge,
Creekside at Landon Farms, Keystone Crossing, Sterling Ridge,
Jeffries Creek, Briar Chapel, and Villas at Forest Hills, and (ii)
condominiums known as Blount Street Commons.

Anderson Homes and its units filed for Chapter 11 on March 16,
2009 (Bankr. E.D. N.C. Lead Case No. 09-02062).  Gerald A.
Jeutter, Jr., Esq., and John A. Northen, Esq., at Northen Blue,
LLP, represent the Debtors in their restructuring effort.  At the
time of the filing, Anderson Homes said it had total assets of
$17,190,001 and total debts of $13,742,840.


ANTHONY BOVA: Places Restaurant Ventures with Rothstein in Ch. 7
----------------------------------------------------------------
Jacqueline Palank at Dow Jones' Daily Bankruptcy Review, citing
the South Florida Business Journal, reports that Anthony Bova
filed Chapter 7 bankruptcy petitions for himself and wife Laurie
as well as for the Bova Cucina and Bova Ristorante in Boca Raton,
Fla.  The report says Mr. Bova co-owned the restaurants with Scott
Rothstein, who's currently awaiting sentencing after pleading
guilty to running a $1 billion-plus Ponzi scheme from his now-
bankrupt law firm.

The report says Messrs. Bova and Rothstein each held 50% ownership
stakes in the restaurants, which were among the Rothstein-owned
businesses that the U.S. Department of Justice had previously won
a protective order over in its bid to preserve the assets.  The
report says the Chapter 7 filing follows a foreclosure lawsuit
that HSBC Bank USA brought against the Bovas in March with regard
to their Boca Raton home.  The report relates Messrs. Bova and
Rothstein teamed up in July 2008 with plans to open new
restaurants, including a cigar bar and lounge that didn't
materialize.

According to the report, in the restaurants' bankruptcy petitions,
they reported together more than $12 million in debt and less than
$240,000 in assets.  The report adds that the Bovas reported
$8.7 million in debt and assets of $2.1 million (including $1,200
in framed art, several luxury watches, a 2004 Land Rover and a
2006 BMW).


ARTISAN HOTEL: Court Converts Case to Chapter 7 Liquidation
-----------------------------------------------------------
Vic Kolenc at El Paso Times reports that the bankruptcy court
converted the Chapter 11 case of The Artisan Hotel & Spa LLC to
Chapter 7 liquidation.

Integrated Financial Associates, owed $6 million, is asking the
bankruptcy court for permission to foreclose on the Company's
hotel.  A hearing is scheduled for April 28, to consider the
request, according to the report.

The Artisan Hotel & Spa LLC -- http://www.theartisanhotel.com/--
operates the Artisan Hotel & Spa in Las Vegas, Nevada.   The
Company filed for Chapter 11 protection on Dec. 9, 2009 (Bankr. D.
Nev. Case No. 08-24684).  David J. Winterton, Esq., at David J.
Winterton & Assoc. Ltd., represented the Debtor in its
restructuring effort.  In its petition, the Debtor posted assets
of between $10 million and $50 million, and debts of between
$1 million and $10 million.


ASCENDIA BRANDS: Proposes Protocol to Settle Avoidance Actions
--------------------------------------------------------------
netDockets reports that Ascendia Brands, Inc., seeks court
approval of procedures for the settlement of avoidance actions
arising under Chapter 5 of the Bankruptcy Code without further
court approval.

The report notes that during the course of the chapter 11 cases,
substantially all of the Debtors' assets have been sold, other
than accounts receivable and avoidance actions.  netDockets
relates that the avoidance actions secure Ascendia's obligations
under its debtor-in-possession financing facility.  The DIP
facility order provides that the first $1.5 million recovered on
account of avoidance actions will be split 50/50 by the DIP
lenders and unsecured creditors.  Recoveries above $1.5 million
are shared 75/25, with the larger portion going to the DIP
lenders.

As reported by the Troubled Company Reporter on March 25, 2010,
Ascendia is seeking authority to employ ASK Financial LLP to
analyze and prosecute the avoidance actions.  That application is
scheduled to be heard on April 28.

netDockets reports that Ascendia says the settlement procedures
were developed with the DIP lenders' agent, Wells Fargo Foothill,
Inc., and the Creditors' Committee.

According to netDockets, the proposed settlement procedures differ
based upon whether the "Net Preference Claim" is above or below
$75,000.  The settlement procedures define the "Net Preference
Claim" amount as "the total gross transfers within the applicable
time period, less the allowed 'new value' defense and the allowed
'ordinary course of business' defense as determined by ASK
[Financial].  The allowed ['ordinary course of business' defense]
is based on the swing days appropriate for that case or the number
of days determined by applying a 30% swing percentage to the
historical average."

According to netDockets, the procedures provide that:

     * For Net Preference Claims under $75,000, ASK Financial
       would have full discretion to settle the claim with the
       consent of the DIP agent, subject to the Committee's notice
       and consent rights.

     * For Net Preference Claims over $75,000, ASK Financial would
       have full discretion to settle the claim with the consent
       of the DIP agent, subject to the Committee's notice and
       consent rights, only if the proposed settlement is for at
       least 65% of the Net Preference Claim.

     * The Creditors' Committee would have a right of prior
       consent for the settlement of any avoidance action until
       the total proceeds recovered from all avoidance actions
       (net of attorneys' fees and expenses recoverable from the
       proceeds) exceeds $1.5 million.  If the Committee does not
       provide its consent, the settlement could only be completed
       with court approval pursuant to a Rule 9019 motion.  Once
       the net proceeds exceed $1.5 million, the Committee would
       be entitled to five business days' prior written notice and
       the Committee would be required to file an objection with
       the bankruptcy court at least two business days prior to
       the planned consummation of the settlement.

netDockets says ASK Financial would also be authorized to reject
settlement proposals that it "considers unreasonably low without
the prior approval of the Debtors, the Agent, or the Committee."
The motion is scheduled to be heard on April 28, 2010 at a hearing
beginning at 1:30 p.m. (Eastern).  Objections to the settlement
procedures must be filed by April 21, 2010 at 4:00 p.m. (Eastern).

                       About Ascendia Brands

Headquartered in Hamilton, New Jersey, Ascendia Brands, Inc. --
http://www.ascendiabrands.com/-- was, prior to the sale of
substantially all of its assets during bankruptcy, a manufacturer
and seller of branded and private labeled health and beauty care
products in North America, including Baby Magic, Binaca, Mr.
Bubble, Calgon, Ogilvie, the healing garden, Lander and Lander
Essentials.  Remaining assets consist almost entirely of accounts
receivable.

The Company and six of its affiliates filed for Chapter
11 protection on August 5, 2008 (Bankr. D. Del. Lead Case No.
08-11787).  Kenneth H. Eckstein, Esq., and Robert T. Schmidt,
Esq., at Kramer Levin Naftalis & Frankel LLP, represent the
Debtors in their restructuring efforts.  M. Blake Cleary, Esq.,
Edward J. Kosmoswki, Esq., and Patrick A. Jackson, Esq., at Young,
Conaway, Stargatt & Taylor, LLP, serve as the Debtors' Delaware
counsel.  Epiq Bankruptcy Solutions LLC is the notice, claims and
balloting agent to the Debtors.

At July 5, 2008, Ascendia Brands, Inc., had $194,800,000 in total
assets and $279,000,000 in total debts.


BANKUNITED FINANCIAL: Gets Extension of Time to File Plan
---------------------------------------------------------
Carla Main at Bloomberg News reports that BankUnited Financial
Corp. was granted an interim, or bridge, extension of the so-
called exclusivity period.  BankUnited made a third request for an
extension of the exclusivity period and due to "scheduling
conflicts," it appears that request may not be heard until after
the current period of exclusivity runs out on April 19, Judge
Laurel M. Isicoff wrote in the April 5 order.  Judge Isicoff
granted the request for a bridge extension until the hearing on
May 6 regarding the debtor's third extension request.

                    About BankUnited Financial

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

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

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

Wilmington Trust Co., U.S. Bank, N.A., and the Bank of New York
were listed among the company's largest unsecured creditors in
their roles as trustees for security issues.  BankUnited estimated
the Bank of New York claim tied to convertible securities at
$184 million.  U.S. Bank and Wilmington Trust are owed
$120,000,000 and $118,171,000 on account of senior notes.


BLANCA LLC: Cash Collateral Hearing Scheduled for April 20
----------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
will consider at a hearing on April 20, 2010 at 2:00 p.m., Blanca,
LLC's motion to use the cash collateral in which East West Bank
and Bank of the West claim an interest in.  The hearing will be
held at 255 E. Temple St. Courtroom 1668 Los Angeles, California.

The cash collateral consists of proceeds, products, rents or
profits of properties located in 5831 Firestone Blvd., Southgate,
California; 8077 Florence Ave., Downey, California; and 4705
Durfee Ave., Pico Rivera, California.

The Debtor will use the cash collateral postpetition to fund its
business operations.  The Debtor will also use the excess rents
from each property to pay debt service to the respective lenders
as funds are available.

The Debtor said that the preservation and enhancement of the
collateral resulting from the Debtor's ongoing operations affords
adequate protection to secured parties.

The Debtor is represented by:

     Carolyn A. Dye
     3435 Wilshire Blvd., Suite 1045
     Los Angeles, CA 90010
     Tel: (213) 368-5000
     Fax: (213) 368-5009

                        About Blanca, LLC

Downey, California-based Blanca, LLC, filed for Chapter 11
bankruptcy protection on February 23, 2010 (Bankr. C.D. Calif.
Case No. 10-16519).  Carolyn A. Dye, Esq., who has an office in
Los Angeles, California, assists the Company in its restructuring
effort.


BLOSSOM VALLEY: Court Continues Cash Collateral Hearing on May 10
-----------------------------------------------------------------
The Hon. Roger L. Efremsky of the U.S. Bankruptcy Court for the
Northern District of California has continued until May 10, 2010,
at 9:00 a.m., the hearing on Blossom Valley Investors, Inc., and
Pear Avenue Investors LLC's motion to obtain postpetition
financing from Bank of the West and access cash collateral.

The Court approved the stipulation on the interim access to the
postpetition financing and cash collateral.  The Court is yet to
consider the Debtors' access to the new second deed of trust on
certain property of the estate known as the Oak Knoll.

The Debtors would use the money to fund day-to-day operations
associated with the Messina Gardens and Oak Knoll projects during
the pendency of the Chapter 11 cases.

     Messina Gardens Cash Collateral/Postpetition Financing

As reported in the Troubled Company Reporter on March 12, 2010,
BOW agreed to extend $3,481,126 postpetition financing to the
Debtors pursuant to the terms of the Debtors' prepetition loan
from BOW for the Messina Gardens project.

BOW also consented to the Debtors' access to the cash collateral
generated from the sale of homes at the Messina Gardens project,
in which BOW holds a security interest prepetition, in order to
finish construction of the partially-completed homes at that
property.

The Messina cash collateral and financing will expire on
September 30, 2010, or the earlier termination date.

The Debtors' balance obligations under the Messina Financing will
bear interest at the rate of 26 LIBOR + 500 basis points.

As adequate protection for the Debtors' use of the Messina cash
collateral and consideration for the Messina Financing, the
Debtors propose to grant BOW: (i) a senior in priority
postpetition lien on BOW's prepetition collateral; (ii) a new
first-position postpetition lien in Lot Nos. 71 and 72 of the
Messina Gardens property (not previously subject to BOW's lien)
and the proceeds thereof acquired postpetition; and (iii) a new
deed of trust on the Oak Knoll Property and the proceeds thereof,
junior only to the existing deed of trust in favor of US Bank and
a senior lien to be granted to BOW pursuant to the Oak Knoll
Financing.  In addition, the Debtors propose to grant BOW a
super-priority administrative expense claim.

A forbearance fee of 0.25% of the balance owed BOW will be added
to the amount owed and paid when the prepetition loan from BOW is
paid.

       Oak Knoll Cash Collateral - Postpetition Financing

BOW will extend postpetition financing to the Debtors, on a non-
revolving and revolving basis, in the aggregate amount of
$4,725,000.

The Oak Knoll Financing will consist of two loans: (i) the
$1,125,000 non-revolving A&D Loan will be used for site work
improvements on 25 partially finished lots at Oak Knoll; and (ii)
the $3,600,000 revolving construction loan will be used for
vertical construction of the 25 homes at Oak Knoll.

The Debtor will grant BOW a priming lien with respect to all of
the property of the Debtor relating to Oak Knoll, and a super-
priority administrative claim over any and all other
administrative expenses.

As adequate protection for the use of the Oak Knoll cash
collateral, the Debtor will provide US Bank, holders of
prepetition security interest relating to Oak Knoll project, with
an additional lien in the Debtors' postpetition assets (but which
postpetition lien will be junior to BOW's liens granted under the
Oak Knoll Financing).

The Oak Knoll cash collateral and financing will be for 24 months
from the effective date of loan documentation, which will permit
the Debtor to complete the build-out and sales of the specified
portions of the Oak Knoll property and maximize the value of the
Debtors' assets relating to that project.

The Debtors' balance on the obligations under the Oak Knoll
Financing will bear interest at the rate of Prime + 1.0%, with a
floor of 6.0%, and a maturity date of 24 months from the date the
financing is extended.

To secure the Oak Knoll Financing, the Debtors will grant BOW a
priming lien with respect to all of the property of the Debtor
relating to Oak Knoll, and a superpriority administrative claim
over any and all other administrative expenses.

The Debtors are represented by:

     Jeffry A. Davis
     Joseph R. Dunn
     Mintz Levin Cohn Ferris Glovsky and Popeo, P.C.
     3580 Carmel Mountain Road, Suite 300
     San Diego, CA 92130

                  About Blossom Valley Investors

San Jose, California-based Blossom Valley Investors, Inc., and
Pear Avenue Investors LLC filed for Chapter 11 on Sept. 10, 2009
(Bankr. N.D. Calif. Case Nos. 09-57669 and 09-57670).  Joseph R.
Dunn, Esq., and Jeffry A. Davis, Esq., at Mintz Levin Cohn Ferris
Glovsky Popeo PC, represent the Debtors in their restructuring
efforts.  In its petition, Blossom Valley listed assets and debts
both ranging from $10,000,001 to $50,000,000.


BOESER INC: Gets Court's Interim Nod to Use Cash Collateral
-----------------------------------------------------------
Boeser, Inc., sought and obtained authority from the Hon. Gregory
Kishel of the U.S. Bankruptcy Court for the District of Minnesota
to use, on an interim basis, $74,000 in cash collateral securing
its obligation to its prepetition lenders.

The Debtor is granted limited use of cash collateral to pay these
expenses:

     a. wages of employees incurred for services rendered from
        April 2, 2010 to April 8, 2010, in the estimated amount of
        $19,367;

     b. federal and state payroll taxes due by reason of the
        payment of the forgoing wages in the estimated amount of
        $8,077; and

     c. raw material and supplies up to $46,000.

In exchange for using the cash collateral, the Debtor will grant
Anchor Bank, N.A. (AB) and First Business Capital Corp. (FBCC)
replacement liens, in addition to their respective prepetition
liens.  The Debtor will provide to AB and FBCC (a) current
financial reports as provided for in the loan documents between
debtor and FBCC and AB, respectively, and (b) a weekly budget
through May 31, 2010.  A copy of the budget is available for free
at http://bankrupt.com/misc/BOESER_budget.pdf

AB and FBCC filed an objection to the Debtor's request to use cash
collateral.  FBCC described the Debtor's motion as vague.  FBCC
said, "The exhibits do not contain 'the Debtor's description of
the collateral and estimate of the collateral's value at the end
of the period of time for which the Debtor current seeks
authorization to use collateral'.  The exhibits also do not
adequately describe the Debtor's cash flow projections.  In
addition, the Debtor's exhibits do not describe, with any
specificity, the expenses for which the Debtor is proposing to use
cash collateral.  Debtor's exhibit entitled 'Projected Major
Expenses Other Than Vendor's Payments' identifies numerous pre-
petition debts, which clearly cannot and should not be paid post-
petition except through a plan of reorganization.  It is not clear
from Debtor's motion what expenses Debtor is asking permission to
pay nor is Debtor's rationale for requesting payment clear."

According to FBCC, the Debtor does not, at any place in its
motion, provide any details, including the description of the
employees the Debtor wants to pay and their functions, the kind of
insurance and the amount and use to which the "certain raw
materials" will be put.

FBCC is represented by Moss & Barnett, A Professional Association.

AB is represented by Stein & Moore, P.A.

The Court has set a final hearing for April 15 on the Debtor's
request to use cash collateral.

                           About Boeser

Minneapolis, Minnesota-based Boeser, Inc., filed for Chapter 11
bankruptcy protection on March 25, 2010 (Bankr. D. Minn. Case No.
10-42136).  Joseph Anthony Wentzell, Esq., at Wentzell Law Office,
PLLC, assists the Company in its restructuring effort.


BOND RANCH: Seeks Chapter 11 Protection in Phoenix
--------------------------------------------------
The Bond Ranch at Del Rio Springs LLC filed for Chapter 11
protection in Phoenix on April 8 (Bankr. D. Ariz. Case No.
10-10174).

According to Bloomberg News, the Debtor, also known as The Bond
Ranch and as Del Rio Springs, listed assets in the range of
$50 million to $100 million and debts ranging from $10 million to
$50 million.  The primary asset of the company is located in Chino
Valley, Arizona.  The property is 3,000 acres, with planned
development for a golf course and homes, according to a statement
on the Web site of Base Capital LLC, which is affiliated with Bond
Ranch and invests in real estate projects.

A list of more than 70 equity security holders provided by the
debtor included individuals and trusts in Arizona, Washington
state, Illinois, British Columbia, California, Wisconsin and
Hawaii.


BOZEL S.A.: Case Summary & 12 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Bozel S.A.
        c/o Bozel LLC
        333 East 69th Street
        New York, NY 10021

Bankruptcy Case No.: 10-11802

Chapter 11 Petition Date: April 6, 2010

Court: U.S. Bankruptcy Court
       Southern District of New York (Manhattan)

Judge: Arthur J. Gonzalez

Debtor's Counsel: Beth Ann Bivona, Esq.
                  Damon Morey LLP
                  The Avant Building
                  200 Delaware Avenue, Suite 1200
                  Buffalo, NY 14202
                  Tel: (716) 858-3849
                  Fax: (716) 856-5537
                  E-mail: bbivona@damonmorey.com

Estimated Assets: $50,000,001 to $100,000,000

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

The petition was signed by Michel Marengere, administrateur
delegue.

Debtor's List of 12 Largest Unsecured Creditors:

         Entity                  Nature of Claim      Claim Amount
         ------                  ---------------      ------------
Crastvell Trading Limited        Guaranty of           $14,500,000
PO Box 958, Pasea Estate         business loans to
Road Town, Tortola               parent
British Virgin Islands

Trafalgar Capital Specialized    Guaranty of            $1,500,000
Investment Fund, 8-10 Rue        business loans to
Mathias Hardt, BP 3023, L-1030   parent
Luxembourg

Pinsent Masons LLP               Attorneys' fees          $150,000
30 Aylesbury Street
London EC1R 0ER
United Kingdom

Guedes, Nunes, et al.            Attorneys' fees           $70,000

Bird & Bird                      Attorneys' fees           $30,000

Conyers, Dill & Pearman          Attorneys' fees           $30,000

Edwin & Coe LLP                  Attorneys' fees           $25,000

Landwell & Associes              Attorneys' fees           $16,000

Lorang & Roberto Avocats         Attorneys' fees           $10,000

Kleyr, Grasso Associes           Attorneys' fees            $5,000

Regus                            Lease for Luxembourg       $5,000
                                 business location

Regus Brazil                     Lease for Brazil           $3,000
                                 business location


BUELLTON CONNOLLY: Voluntary Chapter 11 Case Summary
----------------------------------------------------
Debtor: Buellton Connolly, LLC
        4645 Via Huerto
        Santa Barbara, CA 93110

Bankruptcy Case No.: 10-11620

Chapter 11 Petition Date: April 6, 2010

Court: United States Bankruptcy Court
       Central District Of California (Santa Barbara)

Judge: Robin Riblet

Debtor's Counsel: Joseph M. Sholder, Esq.
                  Griffith & Thornburgh, LLP
                  8 E Figuerora St 3rd Floor
                  Santa Barbara, CA 93101
                  Tel: (805) 965-5131
                  Fax: (805) 965-6751
                  E-mail: sholder@g-tlaw.com

Scheduled Assets: $6,376,000

Scheduled Debts: $5,789,322

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

The petition was signed by Mark Connolly, managing member.


CALIFORNIA COASTAL: Nasdaq to Delist Stock April 27
---------------------------------------------------
California Coastal Communities, Inc. disclosed that on April 9,
2010 it received a delisting determination letter from the Nasdaq
Hearings Panel informing the Company that its common stock is
scheduled to be delisted from the Nasdaq Stock Market effective at
the open of trading on April 27, 2010.  The Company plans to seek
review of the Panel's delisting decision by the Nasdaq Listings
and Hearings Review Council which may overturn the Panel's
decision.

The Company is hopeful that the Nasdaq Review Council will look
favorably upon the fact that the Company is in full compliance
with the continuing listing requirements of Nasdaq and the Panel's
delisting decision was discretionary and based solely on the
Company's inability to emerge from its voluntary Chapter 11
bankruptcy proceedings by April 26, 2010.  The Company commenced
the Chapter 11 proceedings on October 27, 2009 in order to extend
the maturity dates and change the repayment schedules for its
approximately $182 million of Brightwater credit facilities debt
in order to be able to repay the debt in full in 2014 based on
currently expected home sales during the next four years.  There
can be no assurance that the Company's request to the Review
Council will be granted or, if granted, that the Review Council
will decide that the Company's common stock may continue to be
listed on Nasdaq during the pendency of the Chapter 11 process.

As previously reported, the Company received a delisting notice
from the Nasdaq Staff the day after commencing the Chapter 11
proceedings.  In December 2009 the Company successfully appealed
to the Panel and was granted continued Nasdaq listing until
April 26, 2010, upon which date the Company is presently required
by the Panel's decision to have emerged from the Chapter 11
process.  However, events beyond the Company's control such as the
sale of loan positions by certain syndicate members of the
Brightwater credit facilities, including KeyBank who was the agent
for the lending syndicates, to new parties have caused delays in
the Chapter 11 process that make it impossible for the Company to
meet the April 26 Nasdaq deadline.  Therefore, the Company
requested that the Panel extend its deadline so that the common
stock would remain listed while the Company completes the Chapter
11 process.  Since the Panel has refused to grant any further
extension, the Company now intends to submit the matter to the
Nasdaq Review Council.

If the Review Council does not rule in the Company's favor and the
common stock is delisted from Nasdaq, the Company expects that the
common stock will not be immediately eligible to trade over-the-
counter on the OTC Bulletin Board or in the "Pink Sheets."
However, the common stock may become eligible for such trading if
a market maker makes application to quote the common stock in
accordance with Securities and Exchange Commission Rules and such
application is cleared.

The trading of the Company's common stock in the over-the-counter
market rather than on Nasdaq may negatively impact the trading
price and the levels of liquidity available to the Company's
stockholders.  In addition, securities that trade over-the-counter
are not eligible for margin loans and will make our common stock
subject to the provisions of Rule 15g-9 of the Securities Exchange
Act of 1934, as amended, commonly referred to as the "penny stock
rule."

                    About California Coastal

California Coastal Communities, Inc. is a residential land
development and homebuilding company operating in Southern
California.  The Company's principal subsidiaries are Hearthside
Homes which is a homebuilding company, and Signal Landmark which
owns 105 acres on the Bolsa Chica mesa where sales commenced in
August 2007 at the 356-home Brightwater community.  Hearthside
Homes has delivered over 2,200 homes to families throughout
Southern California since its formation in 1994.


CALVARY BAPTIST: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: Calvary Baptist Temple
        5625 Waters Avenue
        Savannah, GA 31404

Bankruptcy Case No.: 10-40754

Chapter 11 Petition Date: April 6, 2010

Court: U.S. Bankruptcy Court
       Southern District of Georgia (Savannah)

Judge: Lamar W. Davis Jr.

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

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

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

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

The petition was signed by James G. Blake, president.


CANWEST GLOBAL: CCAA Stay Period Extended Until June 30
-------------------------------------------------------
Canwest Global Communications Corp. disclosed that the Ontario
Superior Court of Justice has granted the request by its
subsidiary, Canwest Limited Partnership / Canwest Societe en
Commandite and its general partner, Canwest (Canada) Inc., and
their subsidiaries Canwest Publishing Inc. / Publications Canwest
Inc. and Canwest Books Inc. for an extension of the Stay Period
granted under the Companies' Creditors Arrangement Act to June 30,
2010. In its Initial Order on January 8, 2010, the Court provided
a 30-day Stay Period which was subsequently extended to
April 14, 2010.

In addition, the LP Entities and FTI Consulting Canada Inc., the
Court-appointed monitor, have determined that the sale and
investor solicitation process which is currently underway could
possibly result in proceeds in excess of the amount of the LP
Entities' senior lenders' claim.  On that basis, LP Entities with
the support of the Monitor requested and received Court approval
to initiate a claims procedure for certain specified claims
against the LP Entities.

The Claims Order requires trade creditors and other parties
wishing to assert a claim against one or more of the LP Entities
for any indebtedness, liability or obligation arising on or before
January 8, 2010 to submit a proof of claim with the Monitor on or
before May 7, 2010.  Claims arising after January 8, 2010 will be
required to provide a proof of claim to the Monitor 21 business
days after being provided a claim notice form.

A complete description of the Claims Procedure and Claims Order
including the manner of notice to affected creditors and claim
notice forms, can be found on the Monitor's website at
cfcanada.fticonsulting.com/clp

Depending on the outcome of the SISP, the need and rationale for
adjudicating and resolving claims against the LP Entities and
concluding the Claims Procedure may cease to exist.  Details
describing the basis on which the Claims Procedure may continue or
cease following completion of Phase 2 of the SISP are contained in
the Monitor's 6 th Report filed with the Court and posted to the
Monitor's website.

The Claims Procedure will provide an indication of the scope and
nature of potential claims against the LP Entities.  Creditors of
the LP Entities must submit claims in order to participate in any
vote on any restructuring plan and participate in any
distribution.


                      About Canwest Global

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

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

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

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

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

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


CATALINA INDUSTRIES: U.S. Trustee Forms 3-Member Creditors Panel
----------------------------------------------------------------
Donald F. Walton, U.S. Trustee for Region 21, appointed three
members to the official committee of unsecured creditors in the
Chapter 11 case of Catalina Industries, Inc.

The Creditors Committee members are:

1. QVC, Inc.
   Attn: Alan R. Poppe, attorney for QVC, Inc.
   Foley & Lardner LLP
   One Biscayne Tower, Suite 1900
   Miami, FL 33131
   Tel: (305) 482-8412
   Fax: (305) 482-8600
   E-mail: apoppe@foley.com
   (Temporary Chairperson)

2. Xian Tian, Esq., board chairman
   Sienhua Electric Fan C. LTD., Guangdong
   41 Industrial Boulevard, Beijiao Town, Shunde
   Guanddong, Peoples Republic of China, 528311
   Tel: (86) 757-26655118
   Fax: (86) 757-26656811
   E-mail: sdsien@163.com

3. Roger Sherman
   63 May Street
   Jamaica Plain, MA 02130
   Tel: (617) 887-0088
   Fax: (617) 887-0411
   E-mail: rogersherm@gmail.com

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

                  About Catalina Industries, Inc.

Hialeah, Florida-based Catalina Industries, Inc., along with
Catalina Industries, makes residential lighting products.
Catalina distributes its products to retailers including Wal-Mart,
Lowes, OfficeMax, Sears, Staples Kmart and Bed Bath and Beyond.

The Company filed for Chapter 11 bankruptcy protection on
February 25, 2010 (Bankr. S.D. Fla. Case No. 10-14787).  Stephen
P. Drobny, Esq., who has an office in Miami, Florida, assists the
Company in its restructuring effort.  The Company estimated its
assets and liabilities at $10,000,001 to $50,000,000.


CF CAPITAL: Voluntary Chapter 11 Case Summary
---------------------------------------------
Debtor: CF Capital Finance, Inc.
        734 W. Main St.
        Mesa, AZ 85201

Bankruptcy Case No.: 10-09874

Chapter 11 Petition Date: April 6, 2010

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

Judge: George B. Nielsen Jr.

Debtor's Counsel: Dean M. Dinner, Esq.
                  Nussbaum & Gillis, P.C.
                  14500 N. Northsight Blvd., Suite 116
                  Scottsdale, AZ85260
                  Tel: (480) 609-0011
                  Fax: (480) 609-0016
                  E-mail: ddinner@nussbaumgillis.com

Estimated Assets: $0 to $50,000

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 Keith Waldersen.


CHARTER COMMUNICATIONS: S&P Assigns 'BB+' Issue-Level Rating
------------------------------------------------------------
Standard & Poor's Ratings said it assigned ratings to St. Louis-
based Charter Communications Operating LLC's amended senior
secured credit facilities.  The new facilities do not affect all
other ratings on parent Charter Communications Inc. (BB-/Stable/
--) and related entities, including its 'BB-' corporate credit
rating and the stable outlook.  The company, which serves about
4.8 million basic cable TV subscribers, reported just over
$13 billion of debt at Dec. 31, 2009.

S&P assigned a 'BB+' issue-level rating and '1' recovery rating to
the company's amended $3 billion term loan C due 2016 and to its
new $1.2 billion senior secured revolving credit facility due
2015.  These new facilities extend the maturity on a portion of
the existing term loan and also restore a functioning revolving
credit facility.  The company's pre-petition revolving credit
facility was reinstated at emergence from bankruptcy, but without
the capacity to revolve.  The new $1.2 billion revolver will
revolve and mature in 2015.  The remaining approximately
$251 million of funded revolving loans has been "termed-out" (does
not revolve) and comes due in 2013.

Under the amendment, the agent bank and lenders to the senior
secured facilities have agreed to dismiss the pending appeal of
the Company's Order of Confirmation pending before the District
Court for the Southern District of New York and to waive any
objections to the Company's Order of Confirmation issued by the
United States Bankruptcy Court for the Southern District of New
York.

While S&P views these amendments as overall favorable
developments, S&P's view of the company credit profile since its
Nov. 30, 2009 emergence from Chapter 11 bankruptcy remains
unchanged.  The company's fourth-quarter results are in line with
what S&P expected when S&P assigned the current ratings on Dec. 2,
2009.

The rating on Charter continues to reflect high leverage; low
basic video penetration, including recent elevated basic customer
erosion; and limited but growing competition from AT&T Inc.'s U-
verse video service.  Mitigating factors include a fair business
position, benefitting from favorable cable industry operating
characteristics; good revenue visibility; capital spending largely
linked to growth of new revenue-generating units; the significant
bandwidth capacity of Charter's fiber/coaxial plant; and adequate
near-term liquidity.

S&P views Charter's business risk profile as being in the high
speculative-grade category.  Charter's basic subscriber
penetration, which was 40.5% at Dec. 31, 2009, substantially
trails that of the industry and dampens its business risk profile.
While S&P recognize that some of the low basic penetration is a
legacy of the past, including the state of some acquired systems
and a number of operating challenges experienced in earlier years,
more recent basic subscriber losses are a concern.  The company
lost about 5% of its basic subscribers during 2009 although some
of this elevated loss may be due to aggressive targeting by
competitors during the eight months that the company operated in
bankruptcy.  The company's systems are largely upgraded and have
sufficient bandwidth to provide a competitive suite of broadband
services.  Charter's systems, given their low density and only
moderate demographics, are not prime targets for telephone
competition and only around one-third of Charter's customers can
currently get AT&T's U-verse video service.  While basic
penetration still lags, Charter continues to move penetrations
toward industry norms and its average revenue per user (ARPU) of
$114.10 for 2009 is in line with peers.

Charter is highly levered with debt to EBITDA of about 5.4x,
albeit markedly below pre-bankruptcy leverage levels of closer to
10.0x.  S&P anticipates limited improvement in leverage in the
medium term.  Despite the discharge of about $8 billion of debt in
bankruptcy, the $2,700 of debt per basic subscriber may exceed the
market value of those subscribers.  Liquidity is adequate in the
near term from internally generated cash, unrestricted cash of
$709 million at Dec. 31, 2010, and minimal near-term debt
maturities.

                           Ratings List

                    Charter Communications Inc.

         Corporate Credit Rating            BB-/Stable/--

                            New Rating

               Charter Communications Operating LLC

                           Senior Secured

              $3 billion term loan C due 2016   BB+
               Recovery Rating                  1
              $1.2 billion revolving credit
               facility due 2015                BB+
               Recovery Rating                  1


CITIGROUP INC: To Issue Euro- and British Pound-Denominated Notes
-----------------------------------------------------------------
Citigroup Inc. plans to sell EUR1,750,000,000 of 7.375% Fixed Rate
Senior Notes due September 2019 under the "Programme for the
issuance of Euro Medium-Term Notes, Series B".  The terms of the
Notes are available at http://ResearchArchives.com/t/s?5fd3

Citigroup also plans to sell GBP500,000,000 of 7.375% Fixed Rate
Senior Notes due September 2039.  The terms of the Notes are
available at no charge at http://ResearchArchives.com/t/s?5fd4

Both debts are not guaranteed under the Federal Deposit Insurance
Corporation's Temporary Liquidity Guarantee Program.

                         About Citigroup

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

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

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

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


COACH AMERICA: Non-Improvement Could Affect Moody's 'B3' Rating
---------------------------------------------------------------
Moody's Investors Service said that the B3 corporate family rating
and stable outlook of Coach America Holdings, Inc., could be
threatened if expected financial ratio covenant headroom does not
improve by early Q3-2010.

Moody's last rating action on Coach America took place July 13,
2009, when the rating outlook was changed to stable from negative.

Coach America Holdings, Inc., headquartered in Dallas, Texas, is
the largest charter bus operator and second largest motorcoach
services provider in the United States.  The company had last
twelve months ended September 2009 revenues of $430 million.


COBALIS CORP: Court Confirms Plan of Reorganization
---------------------------------------------------
Federal Bankruptcy Court Judge Theodor C. Albert, of the Central
District of California issued his final ruling on April 7, 2010,
handing Cobalis Corp a resounding victory by confirming Cobalis
Corp's plan of reorganization.  Upon confirmation, Cobalis will
officially emerge from bankruptcy, with requirements to pay its
creditors over a 5-year period.

In deciding his ruling, Judge Albert heard and reviewed extensive
testimony, documents and expert opinions from both Cobalis Corp
and from YA Global (formerly known as Cornell Capital), which
filed a competing plan that the Court did not confirm.

Judge Albert decided that Cobalis' plan for reorganization met all
the criteria of The United States Bankruptcy Code, and afforded
Cobalis' creditors, shareholders and investors a significantly
higher level of protection than did YA Global's competing plan
which would have eliminated all current shareholder equity.

Under the now-approved Cobalis plan of reorganization, all classes
of creditors will be paid in full on their allowed claims with
interest as determined by the Court, fully amortized over a five
year term in monthly installments.  Management believes it may
well be able to meet these obligations in a shorter term, based on
revenues generated.  As Cobalis continues to dispute certain
creditor claims, including those of YA Global, payments will be
paid into an escrow account on the same schedule.  Notably, under
Cobalis' plan, existing shares in Cobalis are preserved.

Commenting on the litigation contesting the amount owed to YA
Global, the Court stated: "Even though the Court has discounted
the litigation threat on a temporary basis for voting purposes, if
debtor prevails, it is conceivable that no amount would be owed YA
Global and this could be determined well in advance of the payment
schedule facing all others."

As the Court made clear at the confirmation hearing, "If debtor's
plan is confirmable then it alone should receive the confirmation
order as instructed by 11 U.S.C. Section1129(c) since it alone
provides something for the shareholders and, as well, it is
supported by a much wider margin of the unsecured creditors."

Cobalis CEO Chas Radovich said: "The Court's confirmation of
Cobalis' plan of reorganization and our emergence from bankruptcy
represents a true turning point for Cobalis, and endorses our
unwavering commitment to protect our shareholders.  We view the
Court's confirmation of our plan as vindication of what we have
believed from the beginning -- Cobalis has a viable and feasible
plan to bring an amazing product in PreHistin(R) to market to help
the hundreds of millions of allergy sufferers worldwide find a
better alternative to after-the-fact antihistamines.  As we move
forward now out of bankruptcy, the Company intends to return to a
fully-reporting status and fulfill our obligations to creditors
under our plan of reorganization.  We especially thank our
shareholders, stakeholders and investors as well as our directors,
management, advisors, legal team and creditors who have stood by
us during this contentious period.  We look forward to building a
strong, profitable company well into the future."

                       About Cobalis Corp

Cobalis Corp. (OTC:CLSC) is an over the counter pharmaceutical and
nutraceutical company.  Its flagship product, PreHistin(R) is
designed to prevent the primary causes of airborne allergies.
PreHistin(R), "The World's FIRST Pre-Histamine"(R) is the only
Phase III clinically tested sublingual product fully patented for
long term and daily use without a prescription to help relieve
allergy sufferers from both indoor and outdoor allergens.

PreHistin(R) has shown in previous clinical studies to modulate
the body's level of immunoglobulin E (IgE), thus reducing the
overproduction of histamines, the primary cause of airborne
allergy symptoms.  Studies have shown that the active ingredient
in PreHistin(R), an FDA safety approved 3.3 mg Cyanocobalamin
(Vitamin B12) mega-dose sub-lingual lozenge has essentially no
risks or adverse side effects to the general population including
sedation and drowsiness found in many allergy medications
currently available.

Cobalis Corp. put itself in October 2007 (Bankr. C.D. Calif. Case
No. 07-12347) in response to an involuntary liquidating Chapter 7
petition filed in August by Y.A. Global Investments LP, the holder
of $3 million in secured convertible debentures.

In August 2009, Cobalis Corporation filed a "five year"
reorganization plan.


CONTINENTAL AIRLINES: Merger Talks Intended to Pressure Carrier
---------------------------------------------------------------
Susan Carey and Dennis Berman at The Wall Street Journal report
that a wild card in the United Airlines-US Airways merger talks is
what Continental Airlines might do if it is threatened with
becoming a very distant No. 4 in the airline pecking order.  The
Journal says some analysts believe the talks became public as a
way to pressure Continental to return to the bargaining table with
United.  Continental, which now has a marketing alliance with
United and is a member of the global Star Alliance group that
includes US Airways, declined to comment.

The Journal reports that merger talks between United and US
Airways have become "very serious," according to one person close
to the matter.  The source, however, told the Journal the talks
remain sensitive and it is just as likely the discussions will
fall apart as result in a done deal.  The person also said any
transaction would be an all-stock merger, with United being the
surviving entity.  The Journal relates the share premium to be
paid to US Airways shareholders hasn't been settled.  The Journal
also relates that another person familiar with the talks said the
two sides haven't yet agreed who would run the combination.

The Journal also reports that if the deal comes to fruition, it
would be announced within two or three weeks.  A third person
close to the situation, according to the Journal, suggested that
Glenn Tilton, UAL's chief executive officer, recently restarted
the talks, not his counterpart at US Airways, Doug Parker.

The Journal says Chicago-based United, the third-largest U.S.
airline by traffic, declined to comment. US Airways, No. 6 and
based in Tempe, Ariz., also had no comment.  A merger deal would
create the second largest U.S. airline by traffic after Delta Air
Lines Inc.

The Journal also relates that AMR Corp.'s CEO, Gerard Arpey, last
week said he doesn't believe a United-US Airways merger would be a
problem for his carrier, the No. 2 by traffic.  Although fewer
airlines probably would be better, the Journal relates Mr. Arpey
said, "I don't think necessarily consolidation is the answer to
all the economic challenges the industry faces.  I don't think
it's a silver bullet."

                      About UAL Corporation

Based in Chicago, Illinois, UAL Corporation (NASDAQ: UAUA) --
http://www.united.com/-- is the holding company for United
Airlines, Inc.  United Airlines is the world's second largest air
carrier.  The airline flies to Brazil, Korea and Germany.

The company filed for Chapter 11 protection on Dec. 9, 2002
(Bankr. N.D. Ill. Case No. 02-48191).  James H.M. Sprayregen,
Esq., Marc Kieselstein, Esq., David R. Seligman, Esq., and Steven
R. Kotarba, Esq., at Kirkland & Ellis, represented the Debtors in
their restructuring efforts.  Fruman Jacobson, Esq., at
Sonnenschein Nath & Rosenthal LLP represented the Official
Committee of Unsecured Creditors.  Judge Eugene R. Wedoff
confirmed a reorganization plan for United on Jan. 20, 2006.  The
Company emerged from bankruptcy on Feb. 1, 2006.

Reorganized UAL Corp. carries a 'Caa1' probability of default
rating from Moody's, 'B-' long term foreign issuer credit rating
from Standard & Poor's, and 'CCC' long term issuer default rating
from Fitch.

                        About US Airways

US Airways -- http://www.usairways.com/-- along with US Airways
Shuttle and US Airways Express, operates more than 3,000 flights
per day and serves more than 190 communities in the U.S., Canada,
Mexico, Europe, the Middle East, the Caribbean, Central and South
America.

Under a Chapter 11 plan declared effective on March 31, 2003,
USAir emerged from bankruptcy with the Retirement Systems of
Alabama taking a 40% equity stake in the deleveraged carrier in
exchange for $240 million infusion of new capital.

US Airways and its subsidiaries filed another Chapter 11 petition
on September 12, 2004 (Bankr. E.D. Va. Case No. 04-13820).  Brian
P. Leitch, Esq., Daniel M. Lewis, Esq., and Michael J. Canning,
Esq., at Arnold & Porter LLP, and Lawrence E. Rifken, Esq., and
Douglas M. Foley, Esq., at McGuireWoods LLP, represented the
Debtors in their restructuring efforts.  The USAir II bankruptcy
plan became effective on September 27, 2005.  The Debtors
completed their merger with America West on the same date. (US
Airways Bankruptcy News; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).

                         *     *     *

As of December 31, 2009, US Airways had total assets of
$7,454,000,000, including $2,331,000,000 in total current assets,
against total current liabilities of $2,789,000,000 and total
noncurrent liabilities and deferred credits of $5,020,000,000,
resulting in $355,000,000 stockholders' deficit.

US Airways Group carries Moody's "Caa1" Long-Term rating, LT Corp.
family rating and probability of default rating.  Outlook is
negative.

US Airways Group carries Standard & Poor's "B-" LT Foreign Issuer
Credit rating and LT Local Issuer credit rating.  Outlook is also
negative.

US Airways Group carries Fitch's "CCC" LT Issuer default rating
and "C" Senior unsecured debt rating.  Outlook is also negative.

                   About Continental Airlines

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

At December 31, 2009, Continental had total assets of
$12.781 billion against total current liabilities of
$4.389 billion; long-term debt and capital leases of
$5.291 billion; deferred income taxes of $203 million; accrued
pension liability of $1.248 billion; accrued retiree medical
benefits of $216 million; and other liabilities of $844 million.
At December 31, 2009, the Company had accumulated deficit of
$442 million, accumulated other comprehensive loss of
$1.185 billion and stockholders' equity of $590 million.  The
December 31 balance sheet showed strained liquidity: Continental
had total current assets of $4.373 billion against total current
liabilities of $4.389 billion.

                           *     *     *

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

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

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


COUCHE-TARD INC: S&P Puts 'BB+' Rating on CreditWatch Negative
--------------------------------------------------------------
Standard & Poor's Ratings Services said it placed its ratings,
including its 'BB+' long-term credit rating, on Quebec-based
convenience store operator Alimentation Couche-Tard Inc. on
CreditWatch with negative implications.

"The CreditWatch placement follows ACT's proposed US$1.9 billion
all-cash acquisition of Casey's General Stores Inc.," said
Standard & Poor's credit analyst Donald Marleau.  "Completing the
transaction as proposed remains uncertain, not the least of which
because the proposal is unsolicited, and financing arrangements
are not known," Mr. Marleau added.

ACT's last 12 months' fully adjusted debt leverage of 3.2x is
consistent with S&P's 'BB+' rating on the company, and S&P would
expect pressure on the ratings if leverage increased to 3.5x.  As
such, S&P estimates that ACT could fund about US$700 million of
the transaction with debt before hitting this key rating measure.
That said, the company has demonstrated a good ability to
integrate its acquisitions, improve earnings, and reduce leverage
quickly, which S&P believes provides some latitude to its rating
thresholds for post-acquisition debt reduction.  Moreover, such an
acquisition is consistent with ACT's strategy of increasing
consolidation in the competitive and fragmented North American c-
store industry, and S&P believes it enhances the company's
business risk profile incrementally by improving efficiencies with
existing operations and by extending the company's regional market
share.

Standard & Poor's will likely resolve this CreditWatch when S&P
has more clarity on ACT's prospects for successfully executing
this acquisition, as well as the financing of any such
transaction.  Assuming that ACT will use debt to fund a meaningful
portion of the acquisition, S&P will assess pro forma debt
leverage and the pace of debt reduction within the context of
ACT's ability to achieve earnings-enhancing synergies and free
cash flow.


CRUCIBLE MATERIALS: Gets Nod to Disallow Pension Claims
-------------------------------------------------------
Carla Main at Bloomberg News reports that Crucible Materials Corp.
received approval from the bankruptcy Court to disallow some of
the pension and retiree insurance, severance pay and related
employee claims.

Judge Mary F. Walrath in Wilmington on April 1 also approved the
amended disclosure statement in support of Crucible Materials'
Chapter 11 plan, which states that the debtor has sold
"substantially all" of its assets, the proceeds of which are to be
distributed to creditors. The debtor will also establish a
litigation trust, according to the disclosure statement.  A
hearing to confirm the plan of reorganization and to establish
procedures for voting on the plan is set for May 27.

                     About Crucible Materials

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

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


CYPRESSWOOD SELF-STORAGE: Case Summary & Creditors List
-------------------------------------------------------
Debtor: Cypresswood Self-Storage, Ltd.
        19625 Hickory Twig Way
        Spring, TX 77388

Bankruptcy Case No.: 10-32976

Chapter 11 Petition Date: April 6, 2010

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

Judge: Marvin Isgur

Debtor's Counsel: Patrick D Devine, Esq.
                  Attorney at Law
                  5120 Woodway Drive, Suite 8002
                  Houston, TX 77056
                  Tel: (832) 251-2722
                  Fax: (713) 965-9173
                  E-mail: pdevine@pdevinelaw.com

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 is
available for free at http://bankrupt.com/misc/txsb10-32976.pdf

The petition was signed by David L. Davies, authorized agent.


DERRICK COLEMAN: Files for Chapter 7; Owes $4.7MM to Creditors
--------------------------------------------------------------
Eric Morath at Dow Jones' Daily Bankruptcy Review reports that
Derrick Coleman, a former National Basketball Association No. 1
draft-pick, who filed for Chapter 7 bankruptcy protection last
month, disclosed owing nearly $4.7 million to creditors.

Mr. Coleman was an ex-Syracuse University standout and 1991 NBA
Rookie of the Year.  Mr. Morath relates that, according to papers
filed in court, Mr. Coleman disclosed earning tens of millions
during a 15-year playing career in the NBA but listed assets of
just $1 million in papers filed with the U.S. Bankruptcy Court in
Detroit, his hometown.  Mr. Morath also relates that Mr. Coleman's
bankruptcy attorney Mark B. Berke, Esq., said Friday his client's
desire to invest in the Detroit area after his playing career
ended contributed to his financial problems.

The report relates among Mr. Coleman's ventures is a struggling
Detroit development called Coleman's Corner, an attempt to revive
one of the city's most downtrodden neighborhoods.  Mr. Coleman
defaulted on loans related to the mall last year.  His other
business interests include ownership stakes in the Hilton Garden
Suites hotel in downtown Detroit, a Tim Hortons Inc. doughnut shop
franchise and Hungry Howie's Pizza store, according to court
papers.

Mr. Morath reports that among Mr. Coleman's largest debts is
$1.3 million owed to Comerica Bank in connection with a lawsuit
and a $1 million loan on property in Michigan from Thornburg
Mortgage Home Loans.  He also owes Detroit mayor and fellow
Syracuse legend Dave Bing $50,000 from a loan granted last year.

Mr. Morath says Mr. Coleman's assets include a 1957 Buick
convertible, worth $20,000; a 1970 Chevrolet Nova, worth $5,000; a
1997 Bentley convertible, valued at $50,000; two Seadoo
watercraft; his $90,000 NBA pension; and two chinchilla fur coats.


DEWOSKIN PROPERTIES: To Sell Three Commercial Industrial Assets
---------------------------------------------------------------
Rick Desloge at St. Louis Business Journal reports that DeWoskin
Properties Corp. placed three commercial buildings in St. Louis,
Missouri, up for sale after Southwest Bank did not renew business
loans on the properties worth $1.6 million.

According to Mr. Desloge, the properties up for sale are an
industrial building at 2200 Locust St. in which Southwest has
a secured claim of $1 million and a bank-appraised value of
$840,000, which DeWoskin Properties disputes; an office building
at 4120 Lindell Blvd. valued at $505,000 according to the court
filing with a loan of $400,000; and a home at 919 Skinker Blvd.
valued at $550,000 in the filing and a loan of $360,000.

Southwest Bank is owed $1.76 million in secured claim against the
company, Mr. Desloge notes.

Based in Saint Louis, Missouri, DeWoskin Properties Corporation
filed for Chapter 11 protection on March 3, 2010 (Bankr. E.D.
Miss. Case No. 10-41969).  A. Thomas DeWoskin, Esq., at Danna
McKitrick, PC, represents the Debtor in its restructuring efforts.
The company listed both assets and debts of between $1 million and
$10 million.


DOWNTOWN MAITLAND: Mercantile Bank Wants Bankr. Case Dismissed
--------------------------------------------------------------
Mercantile Bank has asked the U.S. Bankruptcy Court for the
Southern District of New York to dismiss Downtown Maitland
Property Owner, LLC's bankruptcy case.

Mercantile Bank, a secured creditor of Mercantile Bank, claims
that the Debtor's bankruptcy filing was done in bad faith.
Mercantile Bank believes that:

     (a) the Debtor has only one asset;

     (b) the Debtor has few unsecured creditors, whose claims are
         small in relation to those of the secured creditors;

     (c) the Debtor's one asset is the subject of a foreclosure
         action as a result of arrearages or default on the debt;

     (d) the Debtor's financial condition is, in essence a two
         party dispute between the debtor and secured creditors
         which can be resolved in the pending state foreclosure
         action;

     (e) the timing of the Debtor's filing evidences an intent to
         delay or frustrate the legitimate efforts of the Debtor's
         secured creditors to enforce their rights;

     (d) the Debtor has little or no cash flow;

     (e) the Debtor can't meet current expenses including the
         payment of personal property and real estate taxes; and

     (f) the Debtor has no employees.

"The Debtor is a single-asset real estate holding company with no
business operations.  The sole business of the Debtor is to own
and hold the principal asset.  The intended development of the
principal asset has been delayed indefinitely, a significant
portion of the retail space contained within the principal asset
is either unusable or vacant, and the real estate market is not
conducive to a sale of the property.  Although there is a stream
of rental income, it is not even sufficient to meet debt service,"
Mercantile Bank states.

According to Mercantile Bank, the Debtor has no equity in the
principal asset, which is subject to a pending lien foreclosure
action by Mercantile Bank.  The Debtor's unsecured debt is likely
nominal and its bankruptcy filing was precipitated by the
impending foreclosure sale scheduled in Mercantile Bank's
foreclosure case.  The Debtor, says Mercantile Bank, filed its
voluntary petition less than 40 minutes prior to the foreclosure
sale.

Mercantile Bank is represented by Maureen A. Vitucci, Esq.
(mvitucci@gray-robinson.com) at Gray Robinson, P.A.

New York-based Downtown Maitland Property Owner, LLC, filed for
Chapter 11 bankruptcy protection on March 26, 2010 (Bankr. S.D.
N.Y. Case No. 10-11567).  Bruce Weiner, Esq., at Rosenberg, Musso
& Weiner, LLP, assists the Company in its restructuring effort.
According to the schedules, the Company has assets of $12,000,000,
and total debts of $9,388,000.


DUMPLIN VALLEY: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Dumplin Valley Associates, Inc.
          dba Magnusen Hotel Valdosta
              Quality Inn
              Big Bear Kodak Suites
        2200 Northlake Parkway, Suite 277
        Tucker, GA 30084

Bankruptcy Case No.: 10-31698

Chapter 11 Petition Date: April 6, 2010

Court: United States Bankruptcy Court
       Eastern District of Tennessee (Knoxville)

Judge: Richard Stair Jr.

Debtor's Counsel: Thomas Lynn Tarpy, Esq.
                  Hagood, Tarpy & Cox PLLC
                  Suite 2100, Riverview Tower
                  900 South Gay Street
                  Knoxville, TN 37902-1537
                  Tel: 865-525-7313
                  E-mail: ltarpy@htandc.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 says that assets total
$5,014,129 while debts total $7,576,882.

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

The petition was signed by Deborah Harrell, president.


DYNAMIC BUILDERS: Section 341(a) Meeting Scheduled for May 4
------------------------------------------------------------
The U.S. Trustee for Region 16 will convene a meeting of Dynamic
Builders Inc.'s creditors on May 4, 2010, at 1:00 p.m.  The
meeting will be held at Room 1-159, 411 W Fourth Street, Santa
Ana, CA 92701.

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

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

Los Angeles, California-based Dynamic Builders Inc. owns a
commercial real estate.  The Company filed for Chapter 11
bankruptcy protection on March 31, 2010 (Bankr. C.D. Calif. Case
No. 10-14151).  Nanette D Sanders, Esq., at Ringstad & Sanders,
assists the Company in its restructuring effort.  The Company
estimated its assets and debts at $100,000,001 to $500,000,000.


DYNAMIC BUILDERS: Wants to Hire Ringstad & Sanders as Gen. Counsel
------------------------------------------------------------------
Dynamic Builders, Inc., has asked for authorization from the U.S.
Bankruptcy Court for the Central District of California to employ
Ringstad & Sanders LLP as general insolvency counsel.

Ringstad & Sanders will, among other things:

     a. advise the Debtor regarding matters of bankruptcy law,
        including the rights and remedies of the Debtor with
        regard to its assets and with respect to the claims of
        creditors;

     b. represent the Debtor in any proceedings or hearings in the
        Court and, subject to separate agreement, in any action in
        any other court where the Debtor's rights under the U.S.
        Bankruptcy Code may be litigated or affected;

     c. conduct examinations of witnesses, claimants, or adverse
        parties and to prepare and assist in the preparation of
        reports, accounts and pleadings related to this case; and

     d. assist the Debtor in the negotiation, formulation,
        confirmation and implementation of a joint Chapter 11 plan
        of reorganization.

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

        Attorneys                              2010 Rates
        ---------                              ----------
        Todd C. Ringstad                          $575
        Nannette D. Sanders                       $575
        Lisa Farrington                           $360
        Christopher Minier                        $335

        Legal Assistants/Law Clerks
        ---------------------------
        Becky Metzner                             $160
        Brian Nelson                              $160
        Carolyn Harley                            $125

Todd C. Ringstad, a member at Ringstad & Sanders, assures the
Court that the firm is "disinterested" as that term is defined in
Section 101(14) of the Bankruptcy Code.

Los Angeles, California-based Dynamic Builders Inc. owns a
commercial real estate.  The Company filed for Chapter 11
bankruptcy protection on March 31, 2010 (Bankr. C.D. Calif. Case
No. 10-14151).  Nanette D Sanders, Esq., at Ringstad & Sanders,
assists the Company in its restructuring effort.  The Company
estimated its assets and debts at $100,000,001 to $500,000,000.


ENABLE TV: Voluntary Chapter 11 Case Summary
--------------------------------------------
Debtor: Enable TV, Inc.
        2040 14th Street
        Boulder, CO 80302

Bankruptcy Case No.: 10-17854

Chapter 11 Petition Date: April 6, 2010

Court: United States Bankruptcy Court
       District of Colorado (Denver)

Judge: A. Bruce Campbell

Debtor's Counsel: Lee M. Kutner, Esq.
                  303 E. 17th Ave.
                  Suite 500
                  Denver, CO 80203
                  Tel: (303) 832-2400
                  Fax: (303) 832-1510
                  E-mail: lmk@kutnerlaw.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 Timothy Wahlers, president.


FAIRPOINT COMMS: Begins Filing Omnibus Claims Objections
--------------------------------------------------------
FairPoint Communications Inc. filed with the Court 48 separate
omnibus objections to more than 4,300 claims, asserting
$1,030,604,281 in the aggregate.

Specifically, the Debtors seek to disallow, expunge, adjust or
reduce:

  (A) 103 claims, totaling $5,837,162, that are duplicative
      of other claims filed by the same claimant.  Schedules of
      the Duplicate Claims are available for free at:

         http://bankrupt.com/misc/FairPt_1stOmniObj_claims.pdf
         http://bankrupt.com/misc/FairPt_2ndOmniObj_claims.pdf

  (B) 38 claims, totaling $17,330,468, that were filed against
      the wrong Debtor entity and thus, are duplicative of
      claims against other Debtor entities.  A schedule of the
      Cross-Debtor Claims is available for free at:

         http://bankrupt.com/misc/FairPt_5thOmniObj_claims.pdf

  (C) 84 claims, aggregating $5,265,340, that have been amended
      or superseded by subsequently filed claims.  A schedule of
      the Amended Claims is available for free at:

         http://bankrupt.com/misc/FairPt_3rdOmniObj_claims.pdf

  (D) more than 3,000 claims, asserting more than $1 billion,
      which are based exclusively on the claimant's purported
      status as an owner of an equity interest in the Debtors.
      The Debtors object to the Shareholder Claims contending
      that the ownership of an equity interest in the Debtors
      does not constitute a "claim" against the Debtors' estates
      as the term is defined under Section 101(5) of the
      Bankruptcy Code.  Schedules of the Shareholder Claims are
      available for free at:

         http://bankrupt.com/misc/FairPt_4thOmniObj_claims.pdf
         http://bankrupt.com/misc/FairPt_6thOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_7thOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_8thOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_9thOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_10thOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_11thOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_12thOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_13thOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_14thOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_15thOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_16thOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_17thOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_18thOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_19thOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_20thOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_21stOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_22ndOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_23rdOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_24thOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_25thOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_26thOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_27thOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_28thOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_29thOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_30thOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_31stOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_32ndOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_33rdOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_34thOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_35thOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_36thOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_37thOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_38thOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_39thOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_40thOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_41stOmniObj_Claims.pdf

  (E) 607 claims, totaling $293,583, for which the Debtors
      assert that they don't have any liability to, after
      determining that the Claims failed to comply with
      applicable rules.  Moreover, the Debtors relate that they
      lack sufficient information to determine the validity of
      the Non-Compliant Claims.  Schedules of the Non-Compliant
      Claims are available for free at:

         http://bankrupt.com/misc/FairPt_42ndOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_43rdOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_44thOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_45thOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_46thOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_47thOmniObj_Claims.pdf
         http://bankrupt.com/misc/FairPt_48thOmniObj_Claims.pdf

BCSI Inc.'s FAIRPOINT COMMUNICATIONS BANKRUPTCY NEWS provides
definitive coverage of all omnibus claims objections, responses by
claimants, settlements, and orders entered by the Court in
connection with those objections.

                  About FairPoint Communications

FairPoint Communications, Inc. (NYSE: FRP) --
http://www.fairpoint.com/-- is an industry leading provider of
communications services to communities across the country.
FairPoint owns and operates local exchange companies in 18 states
offering advanced communications with a personal touch, including
local and long distance voice, data, Internet, television and
broadband services.  FairPoint is traded on the New York Stock
Exchange under the symbols FRP and FRP.BC.

Fairpoint and its affiliates filed for Chapter 11 on Oct. 26, 2009
(Bankr. S.D.N.Y. Case No. 09-16335).  Rothschild Inc. is acting as
financial advisor for the Company; AlixPartners, LLP as the
restructuring advisor; and Paul, Hastings, Janofsky & Walker LLP
is the Company's counsel.  BMC Group is claims and notice agent.

As of June 30, 2009, Fairpoint reported $3.24 billion in total
assets, $321.41 million in total current liabilities, $2.91
billion in total long-term liabilities, and $1.23 million in total
stockholders' equity.

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


FAIRPOINT COMMS: Objects to Pennsylvania DOR's $5.6-Mil. Claim
--------------------------------------------------------------
FairPoint Communications Inc. and its units ask the Court to
expunge Claim No. 820 asserted by the Pennsylvania Department of
Revenue on account of FairPoint Carrier Services, Inc., for
$5,616,589.

The Debtors object to the Claim, asserting that:

  (i) The Claim has no basis and it does not appear on any of
      their books and records; and

(ii) FCS is a wholesale long distance services provider and is
      exempt from the taxes asserted in the Claim under the
      Pennsylvania Tax Code.

                  About FairPoint Communications

FairPoint Communications, Inc. (NYSE: FRP) --
http://www.fairpoint.com/-- is an industry leading provider of
communications services to communities across the country.
FairPoint owns and operates local exchange companies in 18 states
offering advanced communications with a personal touch, including
local and long distance voice, data, Internet, television and
broadband services.  FairPoint is traded on the New York Stock
Exchange under the symbols FRP and FRP.BC.

Fairpoint and its affiliates filed for Chapter 11 on Oct. 26, 2009
(Bankr. S.D.N.Y. Case No. 09-16335).  Rothschild Inc. is acting as
financial advisor for the Company; AlixPartners, LLP as the
restructuring advisor; and Paul, Hastings, Janofsky & Walker LLP
is the Company's counsel.  BMC Group is claims and notice agent.

As of June 30, 2009, Fairpoint reported $3.24 billion in total
assets, $321.41 million in total current liabilities, $2.91
billion in total long-term liabilities, and $1.23 million in total
stockholders' equity.

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


FAIRPOINT COMMS: Settles Line Sharing Issues with Great Works
-------------------------------------------------------------
FairPoint Communications Inc. and Biddeford Internet Corp., dba
Great Works Internet, have entered into a Bankruptcy Court-
approved stipulation order in order to resolve line sharing
disputes between them.

Debtor Northern New England Telephone Operations LLC, dba
FairPoint Communications-NNE, provides GWI with certain
facilities and services, including dark fiber loops and line
sharing.  The Parties were involved in a dispute with respect to
the contractual obligations with respect to the facilities and
services NNE provided to GWI.

NNE has stated its intent to disconnect GWI's line sharing
arrangements and dark fiber loops due to GWI's alleged failure to
enter into a contract for those services and facilities.

To resolve their dispute, the Parties agree on these terms:

  (1) VISTA Contract -- No later than April 14, 2010, GWI will
      sign an agreement adopting the VISTA contract between GWI
      and Verizon New England Inc. that was effective Feb. 1,
      2005.  The effective date of that Adoption Agreement will
      be retroactive to March 31, 2008, and its termination date
      will be February 28, 2011.

      GWI may order additional line sharing services under the
      Adoption Agreement and VISTA contract.

      If GWI has not signed the Adoption Agreement by April 14,
      the Debtors may terminate all of GWI's line sharing
      arrangements immediately and without recourse.

      Notwithstanding the termination, if any, GWI will be
      liable to the Debtors for payment for all amounts owed for
      line sharing services received prior to the termination,
      as well as for any amount incurred for line sharing
      arrangements provided after January 31, 2010.

  (2) Payment for Past Balance under the VISTA Contract -- GWI
      agrees that all billing by the Debtors for line sharing
      services rendered to GWI, up to and including the Jan. 31,
      2010 invoice is correct; and GWI will not dispute any of
      the Debtors' billing for the line sharing services through
      Jan. 31, 2010.

  (3) Dark Fiber Loop Contract -- By May 1, 2010, GWI will have
      entered into a contract with the Debtors for dark fiber
      loops that is retroactively effective to September 1,
      2009, and that will automatically terminate by its own
      terms on July 31, 2010.

      The rate for dark fiber loops under the Dark Fiber
      Contract will be $850 per airline mile or portion of it,
      for all dark fiber loops that GWI has had in service since
      September 1, 2009.

      If GWI has not executed the Dark Fiber Contract by May 1,
      2010, the Debtors may terminate all of the dark fiber
      loops they provide to GWI immediately and without
      recourse.

      Notwithstanding the termination, if any, GWI will be
      liable to the Debtors for payment for all amounts owed for
      dark fiber loops prior to that termination.

  (4) Payment for Past Balance under the Dark Fiber Loop
      Contract -- No later than April 14, 2010, GWI will pay
      $71,746 to the Debtors for the dark fiber loops provided
      from September 1, 2009 through January 31, 2010.  Upon
      payment of $71,746, the Debtors will release and discharge
      GWI for any claim for additional amounts owed by GWI for
      the use of dark fiber loops between September 1, 2009 and
      January 31, 2010.

  (5) Discontinuing Dark Fiber Loops -- As of February 1, 2010,
      GWI used 14 dark fiber loops provided by the Debtors and
      GWI agrees to discontinue use of seven of those existing
      dark fiber loops no later than April 30, 2010.  GWI will
      discontinue use of the remaining dark fiber loops provided
      by the Debtors no later than July 31, 2010.

      GWI agrees that if it has not discontinued use of the dark
      fiber loops, the Debtors may terminate GWI's use of dark
      fiber loops on April 30, 2010.

A full-text copy of the FairPt-GWI Stipulation is available for
free at http://bankrupt.com/misc/FairPt_GWI_linesharingstip.pdf

                  About FairPoint Communications

FairPoint Communications, Inc. (NYSE: FRP) --
http://www.fairpoint.com/-- is an industry leading provider of
communications services to communities across the country.
FairPoint owns and operates local exchange companies in 18 states
offering advanced communications with a personal touch, including
local and long distance voice, data, Internet, television and
broadband services.  FairPoint is traded on the New York Stock
Exchange under the symbols FRP and FRP.BC.

Fairpoint and its affiliates filed for Chapter 11 on Oct. 26, 2009
(Bankr. S.D.N.Y. Case No. 09-16335).  Rothschild Inc. is acting as
financial advisor for the Company; AlixPartners, LLP as the
restructuring advisor; and Paul, Hastings, Janofsky & Walker LLP
is the Company's counsel.  BMC Group is claims and notice agent.

As of June 30, 2009, Fairpoint reported $3.24 billion in total
assets, $321.41 million in total current liabilities, $2.91
billion in total long-term liabilities, and $1.23 million in total
stockholders' equity.

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


FANITA RANCH: Files for Chapter 11 Protection in California
------------------------------------------------------------
Fanita Ranch LP filed for bankruptcy protection April 8 in San
Diego, California (Bankr. S.D. Calif. Case No. 10-05750).  Fanita
Ranch affiliate Barratt American Inc., based in Carlsbad, Arizona,
also filed for bankruptcy protection.

Fanita Ranch is a single-asset real estate limited partnership.
On a list of Fanita Ranch's 20 largest creditors, the largest
claim belongs to Rick Engineering, which is owed $1.6 million.

According to Carla Main at Bloomberg News, the Company seeks to
remove to the bankruptcy court a civil case against itself and an
affiliate that is now pending in California Superior Court.
Fanita Ranch and another affiliate, Westbrook Fanita Ranch LP,
were sued in California Superior Court by Guaranty Bank and
Wachovia Bank over the priority of liens against property owned by
the partnerships. Those claims should be decided as an adversary
proceeding, or lawsuit handled in the bankruptcy court, because
the claims concern property of the bankruptcy estate, Fanita Ranch
said in the notice of removal.


FELTON'S APPLIANCES: Case Summary & 2 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Felton's Appliances & Electronics, LLC
        24727 Bogey Ridge
        San Antonio, TX 78260

Bankruptcy Case No.: 10-51346

Chapter 11 Petition Date: April 6, 2010

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

Judge: Leif M. Clark

Debtor's Counsel: Dean William Greer, Esq.
                  2929 Mossrock, Suite 117
                  San Antonio, TX 78230
                  Tel: (210) 342-7100
                  Fax: (210) 342-3633
                  E-mail: dwgreer@sbcglobal.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 2 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/txwb10-51346.pdf

The petition was signed by Dwayne D. Felton, director.


FERGUSON CONVALESCENT: Voluntary Chapter 11 Case Summary
--------------------------------------------------------
Debtor: Ferguson Convalescent Home, Inc.
        239 S. Main St.
        Lapeer, MI 48446

Bankruptcy Case No.: 10-31918

Chapter 11 Petition Date: April 6, 2010

Court: United States Bankruptcy Court
       Eastern District of Michigan (Flint)

Judge: Daniel S. Opperman

Debtor's Counsel: Martin W. Hable, Esq.
                  301 W. Genesee St.
                  Suite 101
                  Lapeer, MI 48446
                  Tel: (810) 667-7123
                  Fax: (810) 667-7133
                  E-mail: hablelaw@yahoo.com

Estimated Assets: $0 to $50,000

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 Paul M. Ferguson, vice-president.


FIDELITY PROPERTIES: Section 341(a) Meeting Scheduled for May 3
---------------------------------------------------------------
The U.S. Trustee for Region 21 will convene a meeting of Fidelity
Properties Group LLC's creditors on May 3, 2010, at 9:00 a.m.  The
meeting will be held at 6th Floor Suite 600, 135 West Central
Boulevard, Orlando, FL 32801.

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

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

Orlando, Florida-based Fidelity Properties Group LLC filed for
Chapter 11 bankruptcy protection on April 1, 2010 (Bankr. M.D.
Fla. Case No. 10-05510).  Lawrence M. Kosto, Esq., Kosto & Rotella
PA, assists the Company in its restructuring effort.  The Company
listed $10,333,188 in assets and $3,593,828 in liabilities.


FIDELITY PROPERTIES: Taps Kosto & Potella as Bankr. Counsel
-----------------------------------------------------------
Fidelity Properties Group, LLC, has sought permission from the
U.S. Bankruptcy Court for the Middle District of Florida to employ
Lawrence M. Kosto and the law firm Kosto & Potella, P.A., as
bankruptcy counsel.

Kosto & Potella will, among other things:

     a. prepare pleadings, applications, and conduct examinations
        incidental to administration;

     b. advise and represent the Debtor in its connection with all
        applications, motions or complaints for reclamation,
        adequate protection, sequestration, relief from stays,
        appointment of a trustee or examiner and all other similar
        matters;

     c. examine and object to the claims of creditors in the case;
        and

     d. advise and assist the debtor-in-possession in the
        formulation and presentation of a plan of reorganization.

Kosto & Potella will be paid based on the hourly rates of its
personnel:

        Lawrence M. Kosto             $300
        Paralegal                     $100

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

Orlando, Florida-based Fidelity Properties Group LLC filed for
Chapter 11 bankruptcy protection on April 1, 2010 (Bankr. M.D.
Fla. Case No. 10-05510).  Lawrence M. Kosto, Esq., Kosto & Rotella
PA, assists the Company in its restructuring effort.  The Company
listed $10,333,188 in assets and $3,593,828 in liabilities.


FONTAINEBLEAU LAS VEGAS: Wants Case Converted to Chapter 7
----------------------------------------------------------
Fontainebleau Las Vegas Holdings, LLC and its affiliated debtor
entities are asking the Bankruptcy Court to convert their Chapter
11 cases to Chapter 7 of the Bankruptcy Code.

On January 29, 2010, the Court approved the sale of substantially
all of the Debtors' assets to Icahn Nevada Gaming Acquisition,
LLC.  On February 18, 2010, the Debtors closed upon the sale.

The Debtors point out that Section 1112(a) of the Bankruptcy Code
affords a debtor the absolute right to convert a chapter 11 case
to a case under chapter 7 at any time.  The Debtors attest that
the request is not being made in bad faith or for any improper
purpose.

As reported by the Troubled Company Reporter  on February 19,
2010, Icahn Enterprises L.P. disclosed that its indirect
subsidiaries have acquired from Fontainebleau Las Vegas and
certain affiliated entities, the Fontainebleau property and
improvements thereon located in Las Vegas, Nevada, for an
aggregate purchase price of approximately $150 million.  The
Fontainebleau property includes an unfinished building of
approximately 7 million square feet that is situated on
approximately 25 acres of land.

The Debtors also ask the Court to direct the Debtors' banks to
honor postpetition checks issued prior to entry of an order
converting these cases.

                  About Fontainebleau Las Vegas

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

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

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

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


FORUM HEALTH: To Lay Off 125 Worker Over the Next Few Months
------------------------------------------------------------
Larry Ringler at Tribune Chronicle says Forum Health said it would
lay off 125 workers, or 3.4% of 3,688 employees, in attempt to
maintain competitive position in the market place in the face of
economic pressure.  The cuts will be made over the next few
months.

Forum Health and its affiliates filed for Chapter 11 protection on
March 16, 2009 (Bankr. N.D. Ohio Lead Case No. 09-40795).  Paul W.
Linehan, Esq., and Shawn M Riley, Esq., at McDonald Hopkins LLC,
serve as lead counsel to the Debtors.  The Debtors have also
tapped Michael A. Gallo, Esq. at Nadler Nadler & Burdman Co., LPA
as co- counsel; Kurtzman Carson Consultants LLC as claims,
noticing and balloting agent; and Huron Consulting Services LLC as
financial advisors.  Alston & Bird LLP represents the official
committee of unsecured creditors formed in the Chapter 11 cases.
At the time of its filing, Forum Health estimated that it had
assets and debts both ranging from $100 million to $500 million.


FORUM HEALTH: Federal Judge Denies Severance Benefit to Pishkur
---------------------------------------------------------------
William K. Alcorn at Vindy.com reports that a federal bankruptcy
judge denied Forum Health's request to pay $18,216 severance
benefit to former executive Walter Pishkur, saying although
generally applicable to all full-time non-union employees, is not
generally applicable to all full-time employees as required by the
U.S. Bankruptcy Code.

Forum Health and its affiliates filed for Chapter 11 protection on
March 16, 2009 (Bankr. N.D. Ohio Lead Case No. 09-40795).  Paul W.
Linehan, Esq., and Shawn M Riley, Esq., at McDonald Hopkins LLC,
serve as lead counsel to the Debtors.  The Debtors have also
tapped Michael A. Gallo, Esq. at Nadler Nadler & Burdman Co., LPA
as co- counsel; Kurtzman Carson Consultants LLC as claims,
noticing and balloting agent; and Huron Consulting Services LLC as
financial advisors.  Alston & Bird LLP represents the official
committee of unsecured creditors formed in the Chapter 11 cases.
At the time of its filing, Forum Health estimated that it had
assets and debts both ranging from $100 million to $500 million.


FREESCALE SEMICONDUCTOR: Fitch Rates $1.38 Bil. Notes at 'CCC/RR4'
------------------------------------------------------------------
Fitch rates Freescale Semiconductor Inc.'s $1.38 billion 9.25%
senior secured notes due 2018 'CCC/RR4'.

Fitch currently has these ratings on Freescale:

  -- Issuer Default Rating 'CCC';
  -- Senior secured bank revolving credit facility 'CCC/RR4';
  -- Senior secured term loans 'CCC/RR4';
  -- Senior unsecured notes 'C/RR6';
  -- senior subordinated notes 'C/RR6'.

Net proceeds from the note issuance, which is anticipated to close
on April 13, 2010, must be used to repay the outstanding senior
secured term loans, including approximately $470 million due in
2013 and substantially all of the $914 million of senior secured
incremental term loans due in 2014.

Total debt was approximately $7.9 billion as of Dec. 31, 2009,
and, pro forma for the closing of the notes offering, consisted
of:

  -- $532 million of borrowings under the senior secured revolving
     credit facility due Dec. 1, 2012;

  -- $2.3 billion of senior secured term loans due Dec. 1, 2016;

  -- $2.1 billion of senior secured notes due 2018;

  -- $2.1 billion of senior unsecured notes due 2014; and

  -- $764 million of senior subordinated notes due 2016.


FRENCH BROAD: Gets Interim Nod to Use Cash Collateral
-----------------------------------------------------
French Broad Place, LLC, sought and obtained permission from the
Hon. George R. Hodges of the U.S. Bankruptcy Court for the Western
District of North Carolina to use, on an interim basis, the cash
collateral of Asheville Savings Bank.

Edward C. Hay, Jr., Esq., at Pitts, Hay & Hugensschmidt, P.A., 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 collateral pursuant to a budget, a copy of
which is available for free at:

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

Asheville Savings Bank is the Debtor's primary secured creditor.
The bank is a holder of a claim for $8,475,801 secured by a first
lien deed of trust on the Debtor's real estate, valued at
$20,100,000.  The bank also holds a security interest in the rent
collected by the Debtor from the tenants in its leased premises,
by way of an assignment of rents contained in the security
documents.  Approximately $11,600,000 in equity exists.  The
Debtor says that Asheville Savings is adequately protected.

Asheville Savings has agreed that the Debtor may collect the
April rents from the tenants in its leased premises, and that a
preliminary order be entered authorizing expenditure of the rents
collected within the terms of the proposed budget, on a
preliminary basis.

The Court has set a final hearing for April 21, 2010, on the
Debtor's request to use cash collateral.

Brevard, North Carolina-based French Broad Place LLC filed for
Chapter 11 bankruptcy protection on March 25, 2010 (Bankr. W.D.
N.C. Case No. 10-10335).  Edward C. Hay, Jr., Esq., at Pitts, Hay
& Hugenschmidt, P.A., assists the Company in its restructuring
effort.  According to the schedules, the Company has assets of
$20,171,100, and total debts of $14,395,245.


FRONTIER COMMUNICATIONS: Unit Completes Offering of $3.2BB Notes
---------------------------------------------------------------
Frontier Communications disclosed that New Communications Holdings
Inc., a subsidiary of Verizon Communications Inc. formed for the
purposes of holding defined assets and liabilities of the local
exchange business and related landline activities of Verizon in 14
states, has completed its previously announced offering of $3.2
billion aggregate principal amount of Senior Notes.  The gross
proceeds of the offering were deposited into an escrow account.
Spinco intends to use the net proceeds from the offering to fund
the special cash payment by Spinco to Verizon, in connection with
the spin-off of Spinco to Verizon's shareholders and the
subsequent merger of Spinco with and into Frontier.  The net
proceeds from the offering are sufficient to fund the entire
special cash payment which is one of the conditions to closing the
merger.  The parties expect the merger to close late in the second
quarter of this year.

The Senior Notes consist of $500 million aggregate principal
amount of Senior Notes due 2015 (the "2015 Notes"), $1.1 billion
aggregate principal amount of Senior Notes due 2017 (the "2017
Notes"), $1.1 billion aggregate principal amount of Senior Notes
due 2020 (the "2020 Notes") and $500 million aggregate principal
amount of Senior Notes due 2022 (the "2022 Notes", and together
with the 2015 Notes, the 2017 Notes and the 2020 Notes, the
"Notes").

The 2015 Notes have an interest rate of 7.875% per annum, the 2017
Notes have an interest rate of 8.250% per annum, the 2020 Notes
have an interest rate of 8.500% per annum and the 2022 Notes have
an interest rate of 8.750% per annum.  The Notes were issued at a
price equal to 100% of their face value.  The Notes were sold in a
private placement that is exempt from the registration
requirements of the Securities Act of 1933, as amended (the
"Securities Act").

                  About Frontier Communications

Frontier Communications Corporation, headquartered in Stamford,
Connecticut, is the fifth largest wireline telecommunications
company in the U.S., serving more than 7 million access lines in
primarily rural areas and small- and medium-sized cities.

                           *     *     *

Fitch Ratings has maintained Frontier's Issuer Default Rating at
'BB', on Positive Watch.  Standard & Poor's Ratings Services also
retained Frontier's corporate credit rating at 'BB/Stable/--'
despite the upsizing of the Company's 8.125% senior notes due 2018
from $450 million to $600 million at the end of September 2009.


G. VILLA: Case Summary & 2 Largest Unsecured Creditors
------------------------------------------------------
Debtor: G. Villa Partners, Ltd
        18445 Highway 105 West, Suite 100
        Montgomery, TX 77356

Bankruptcy Case No.: 10-32975

Chapter 11 Petition Date: April 6, 2010

Court: U.S. 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: $1,000,001 to $10,000,000

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

According to the schedules, the Company says that assets total
$2,150,152.00 while debts total $1,954,516.31.

A copy of the Company's list of 2 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/txsb10-32975.pdf

The petition was signed by Nancy Horkey, President of G. Villa
Construction, LLC, GP.


GENERAL GROWTH: Antitrust Concerns Put Talks with Simon at Impasse
------------------------------------------------------------------
Talks between mall owners Simon Property Group Inc. and General
Growth Properties Inc. have reached an impasse regarding how many
malls Simon would be willing to divest to allay antitrust concerns
it if were to acquire its bankrupt rival, people familiar with the
talks told Kris Hudson at The Wall Street Journal.

The Journal notes Simon is racing against General Growth's
deadline of next Monday for proposing a sweetened bid for the
company.

Sources told the Journal that Simon had offered in recent days to
commit to divesting up to 10 million square feet, amounting to
roughly 25 to 30 malls, if the Federal Trade Commission requires
such action in its antitrust review of any Simon-General Growth
combination.  The sources also said Simon wants to be able to walk
away from the deal if the malls it is required to sell average
annual sales of $450 square feet or more. The industry average is
roughly $300.

According to the Journal, General Growth's lawyers responded that
Simon needs to be prepared to divest more than 10 million square
feet, but they didn't specify how much more.

People familiar with the matter told the Journal the impasse has
Simon pondering whether it will, in fact, make a revised bid and
whether it must add more partners to do so.

Simon in February had offered $10 billion to acquire all of
General Growth at $9 per share.  General Growth, however, took a
proposal from a group led by Brookfield Asset Management Inc. to
provide $6.5 billion, at $15 per share, to help it exit bankruptcy
as a standalone company.

Simon is the largest U.S. retail landlord with 321 properties.
General Growth is next with 200 U.S. malls.  The Journal says
Simon owns roughly 245 million square feet of retail properties in
the U.S.  General Growth owns roughly 183 million square feet.

Sources told the Journal that Simon's advisers and partners are
concerned that General Growth is taking a hard line on topics such
as antitrust divestitures because it would rather remain
independent, with the Brookfield group as major investors.

The sources also say General Growth's board is concerned the FTC
might hinder a Simon-General Growth combination on fears that the
resulting company would control too many properties in certain
markets and thus carry too much clout over retailers.  The General
Growth board doesn't want to end up in a situation where it
accepts a Simon bid only to see Simon walk from the offer due to
the extent of property divestitures the FTC might require.

According to the Journal, analysts are predicting that General
Growth's board will want Simon's bid to handily exceed the
Brookfield group's $15-per-share offer to compensate shareholders
for forgoing the upside of remaining a standalone company with its
own stock.

The Journal also notes that Simon is likely to argue that the
Brookfield offer is worth something less than $15 a share.  That's
because the Brookfield group will receive, in exchange for its
backing, 120 million warrants to buy General Growth stock at $15 a
share, the Journal explains.  The Journal also notes that people
familiar with Simon's strategy argue that General Growth's costs
in supplying those warrants translate to shareholders getting
something closer to $13 per share in value from the Brookfield
proposal because of their dilutive effect.

                       About General Growth

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

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

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


GENERAL MOTORS: Generates $1-Bil. in Cash After Bankruptcy Exit
---------------------------------------------------------------
Carla Main at Bloomberg News reports that General Motors Co.
generated $1 billion in cash last year after leaving bankruptcy in
July as Chief Executive Officer Ed Whitacre cut half of the U.S.
brands and shuffled management to push for a profit in 2010.
GM said the net loss was $4.3 billion from its Chapter 11 exit
through Dec. 31.  Cash and marketable securities totaled $36.2
billion at year's end, according to slides prepared for an analyst
call.

According to Bloomberg, GM needs cash to meet a goal of repaying
government loans in 2010 and market the new models pivotal to
Whitacre's demands for increased sales.  The results offer the
first look at the 2009 financial performance of the biggest U.S.
automaker since it emerged from the remnants of General Motors
Corp.

                        About General Motors

General Motors Company -- http://www.gm.com/-- is one of the
world's largest automakers, tracing its roots back to 1908.  With
its global headquarters in Detroit, GM employs 209,000 people in
every major region of the world and does business in some 140
countries.  GM and its strategic partners produce cars and trucks
in 34 countries, and sell and service these vehicles through these
brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, Opel,
Vauxhall and Wuling.  GM's largest national market is the United
States, followed by China, Brazil, the United Kingdom, Canada,
Russia and Germany.  GM's OnStar subsidiary is the industry leader
in vehicle safety, security and information services.

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

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

                    About Motors Liquidation

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

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

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


GENERAL MOTORS: To Release Post-Bankruptcy Results Tomorrow
-----------------------------------------------------------
General Motors Company disclosed in a regulatory filing with the
U.S. Securities and Exchange Commission that it is unable to
timely file its annual report on Form 10-K for the fiscal year
ended December 31, 2009.

"The Company is still finalizing its fresh-start adjustments
required by generally accepted accounting principles relating to
the assets acquired and liabilities assumed from General Motors
Corporation in connection with [General Motors Corporation's or]
Old GM's sale of its assets under Section 363 of the United States
Bankruptcy Code prior to such date," according to GM Vice
President, Controller and Chief Accounting Officer Nick S. Cyprus.

"Due to the size of the Company, the global application of fresh-
start reporting and the associated determination of the fair value
of its assets and liabilities is a significant undertaking, which
requires extra time," Mr. Cyprus added.

"Given the enormity of the undertaking, we wanted to make sure and
take the appropriate time necessary to get this done," GM
spokeswoman Renee Rashid-Merem told The Wall Street Journal.

The Company was formed by the U.S. Department of the Treasury in
2009 and, Mr. Cyprus said, the 2009 Form 10-K will include
financial statements for the Company at and for the period from
July 10, 2009 -- the date of completion of the 363 Sale -- through
December 31, 2009, and for no other periods for the Company.

GM completed on July 10, 2010, the sale of substantially all of
General Motors Corporation's assets to NGMCO, Inc., an entity
funded by the U.S. Treasury, pursuant to Section 363 of the
Bankruptcy Code.

Pursuant to an agreement with the SEC Staff, the 2009 Form 10-K
will include financial statements (i) for Old GM at December 31,
2008, and for the period from January 1 through July 9, 2009, and
(ii) for the years ended December 31, 2008 and 2007.  Because the
Company is a new reporting entity, its financial statements will
not be comparable to the financial statements of Old GM, according
to Mr. Cyprus.

GM will file its first post-bankruptcy results on April 14, 2010,
Agence France Presse reported, citing a company statement.  Chief
Financial Officer Chris Liddell will discuss "fresh start
accounting" and 2009 results during a conference call with
analysts and reporters on April 14, the report said.

GM specified that it will file a third-quarter 2009 Form 10-Q and
a 2009 Form 10-K with the Securities and Exchange Commission
following the conference call, according to AFP.

                       About General Motors

General Motors Company -- http://www.gm.com/-- is one of the
world's largest automakers, tracing its roots back to 1908.  With
its global headquarters in Detroit, GM employs 209,000 people in
every major region of the world and does business in some 140
countries.  GM and its strategic partners produce cars and trucks
in 34 countries, and sell and service these vehicles through these
brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, Opel,
Vauxhall and Wuling.  GM's largest national market is the United
States, followed by China, Brazil, the United Kingdom, Canada,
Russia and Germany.  GM's OnStar subsidiary is the industry leader
in vehicle safety, security and information services.

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

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

                    About Motors Liquidation

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

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

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


GENERAL MOTORS: Proposes Deloitte as Tax Advisor
------------------------------------------------
Motors Liquidation Co., formerly General Motors Corp., and its
units seek the authority of Judge Robert E. Gerber of the U.S.
Bankruptcy Court for the Southern District of New York to employ
Deloitte Tax LLP to provide tax advisory services in their cases,
nunc pro tunc to January 1, 2010.

Deloitte Tax was one of the accounting firms for General Motors
prior to the Petition Date.  Thus, the firm possesses certain
records and institutional knowledge relevant to tax matters
involving the Debtors, Harvey R. Miller, Esq., at Weil, Gotshal &
Manges LLP, in New York -- harvey.miller@weil.com -- tells the
Court.  Accordingly, the retention of Deloitte Tax as tax advisor
"is the most practical, efficient and economic way in which to
proceed," Mr. Miller asserts.

Pursuant to an engagement letter dated January 21, 2010, Deloitte
Tax will provide tax advisory services on federal, foreign, state
and local tax matters on an as-requested basis.  Those services
will relate principally to the preparation and submission of
private letter rulings to the Internal Revenue Service relating to
a Chapter 11 plan, relates Mr. Miller.

The Debtors will pay the professionals at Deloitte Tax based on
these hourly rates and the nature of services they will provide:

  Professional              Local        National
  ------------              -----        --------
  Partner                   $723           $837
  Senior Manager            $595           $642
  Manager                   $531           $557
  Senior Associate          $425           $425
  Staff                     $340           $340

Deloitte Tax will also be reimbursed for necessary out-of-pocket
expenses.

Mr. Miller assures the Court that Deloitte Tax will not provide
services that are duplicative of those to be provided by other
professionals in the Debtors' Chapter 11 cases.

Pursuant to the Engagement Letter, the Debtors will indemnify and
hold harmless Deloitte Tax, its subcontractors and their personnel
from all claims, liabilities or expenses relating to the
Engagement, except to the extent finally judicially determined to
have resulted primarily from the bad faith or intentional
misconduct of Deloitte Tax or its subcontractors.  The Engagement
Letter also provides for a limitation on damages of Deloitte Tax,
except to the extent finally judicially determined to have
resulted primarily from the bad faith or intentional misconduct of
Deloitte Tax or its subcontractors.

Because the Debtors' retention of Deloitte Tax is being sought
pursuant to Section 363 of the Bankruptcy Code, the firm is not
subject to the "disinterested" standard of Section 327 -- to which
the Office of the U.S. Trustee "has no objection," Mr. Miller
says.

                       About General Motors

General Motors Company -- http://www.gm.com/-- is one of the
world's largest automakers, tracing its roots back to 1908.  With
its global headquarters in Detroit, GM employs 209,000 people in
every major region of the world and does business in some 140
countries.  GM and its strategic partners produce cars and trucks
in 34 countries, and sell and service these vehicles through these
brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, Opel,
Vauxhall and Wuling.  GM's largest national market is the United
States, followed by China, Brazil, the United Kingdom, Canada,
Russia and Germany.  GM's OnStar subsidiary is the industry leader
in vehicle safety, security and information services.

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

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

                    About Motors Liquidation

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

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

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


GENERAL MOTORS: Wins Nod for Plante & Moran as Accountants
----------------------------------------------------------
Motors Liquidation Co. and its units obtained authority from Judge
Robert Gerber of the U.S. Bankruptcy Court for the Southern
District of New York to employ Plante & Moran, PLLC, to perform
certain accounting and consulting services in the Debtors' cases
on an "as requested" basis, nunc pro tunc to October 9, 2009.

According to Harvey R. Miller, Esq., at Weil, Gotshal & Manges
LLP, in New York, P&M is a well respected and experienced
professional accounting firm that possesses extensive accounting,
tax, and consulting expertise.  Accordingly, Mr. Miller says, P&M
is well-qualified to act as the Debtors' accountant and
consultant.

Pursuant to an engagement letter between Motors Liquidation
Company and P&M dated March 17, 2010, P&M will:

  (a) provide various tax services for MLC, including
      preparing tax returns and providing tax planning and
      consulting services relating to the transition of tax
      filing responsibilities from New GM to MLC and relating
      to ongoing operations and transitions;

  (b) provide consulting and other services relating to MLC's
      internal controls, including evaluation of the current
      system, and implementing procedures to test the
      effectiveness of those controls; and

  (c) provide other financial, tax, and related assistance,
      which services may range from financial staffing
      assistance to information technology assistance.

P&M will not formally audit any of the Debtors, Mr. Miller notes.

According to Mr. Miller, P&M will be compensated based on these
hourly rates:

  Professional                Hourly Rate
  ------------                -----------
  Partner                      $300-$450
  Associate                    $150-$350
  Staff                         $80-$200
  Paraprofessional and Admin    $75-$125

The Debtors will also reimburse P&M for reasonable out-of-pocket
expenses.

Michael A. Colella, a partner at P&M, contends that his firm is a
"disinterested person," as that term is defined in Section 101(14)
of the Bankruptcy Code.

                       About General Motors

General Motors Company -- http://www.gm.com/-- is one of the
world's largest automakers, tracing its roots back to 1908.  With
its global headquarters in Detroit, GM employs 209,000 people in
every major region of the world and does business in some 140
countries.  GM and its strategic partners produce cars and trucks
in 34 countries, and sell and service these vehicles through these
brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, Opel,
Vauxhall and Wuling.  GM's largest national market is the United
States, followed by China, Brazil, the United Kingdom, Canada,
Russia and Germany.  GM's OnStar subsidiary is the industry leader
in vehicle safety, security and information services.

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

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

                    About Motors Liquidation

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

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

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


GENERAL MOTORS: Court Approves Brownfield's Modified Fees
---------------------------------------------------------
The U.S. Bankruptcy Court authorized Motors Liquidation Co. and
its units to (i) amend the fee cap to provide for Brownfield
Partners LLC's continued environmental consulting services for a
total cost of consultant labor not to exceed $1,100,000, and (ii)
implement revised rates to be charged by Brownfield, pursuant to a
Second Letter Agreement between the Debtors and the firm.

A status conference may be held at a time to be agreed upon with
respect to the Revised Rates, as may be requested by parties-in-
interest, Judge Gerber ruled.  The Debtor had said that the Second
Amended Fee Cap will allow Brownfield to further assist the
Debtors in addressing environmental matters and facilitate the
efficient and economic administration of their estates.

James M. Redwine, vice president at Motors Liquidation Co.,
assured the Court that Brownfield's services will not be
duplicative of the services provided by the Debtors' two other
retained environmental consultants -- LFR Inc. and The Claro
Group, LLC.

LFR develops the appropriate technical engineering inputs for
environmental remediation cost estimates.  Claro Group, on the
other hand, focuses on the continued refinement of remediation
cost estimates by applying sophisticated financial modeling
techniques and macroeconomic inputs to the cost data provided by
LFR, said Mr. Redwine.


GENERAL MOTORS: Asbestos Committee Wants Caplin as Counsel
----------------------------------------------------------
The Official Committee of Unsecured Creditors Holding Asbestos-
Related Claims seeks the U.S. Bankruptcy Court's permission to
retain Caplin & Drysdale, Chartered, as its counsel, nunc pro tunc
to October 6, 2009.

Elihu Inselbuch, Esq., a member at Caplin & Drysdale, Chartered,
in New York, -- ei@capdale.com -- relates that his firm is
familiar with issues relating to the Asbestos Committee.  He adds
that the professionals at Caplin have substantial experience in
bankruptcies mass tort liability, insolvency, corporate
reorganization, debtor/creditor and commercial law.

As counsel to the Asbestos Committee, Caplin will be:

  (a) assisting and advising the Asbestos Committee in its
      consultation with the Debtors and other committees
      relative to the overall administration of the estates;

  (b) representing the Asbestos Committee at Court hearings;

  (c) assisting and advising the Asbestos Committee in its
      examination and analysis of the Debtors' conduct and
      financial affairs;

  (d) reviewing and analyzing all applications, orders,
      operating reports, schedules and statements of affairs
      filed and to be filed with the Court by the Debtors or
      other interested parties in the Debtors' cases;

  (e) assisting the Asbestos Committee in preparing appropriate
      legal pleadings and proposed orders as may be required in
      support of positions taken by the Asbestos Committee and
      preparing witnesses and reviewing documents;

  (f) coordinating the receipt and dissemination of information
      prepared by and received from the Debtors' independent
      accountants or certified Asbestos Committee accountants or
      other professionals;

  (g) assisting the Asbestos Committee in the solicitation and
      filing with the Court of Asbestos Committee acceptances or
      rejections of any proposed plan or plans of
      reorganization;

  (h) assisting and advising the Asbestos Committee with regard
      to communications to the asbestos-related claimants
      regarding the Asbestos Committee's efforts, progress and
      recommendation; and

  (i) assisting the Asbestos Committee generally by providing
      other services in the best interest of the creditors
      represented by the Asbestos Committee.

These specific Caplin's professionals will be paid based on these
hourly rates:

  Professional                Designation        Hourly Rate
  ------------                -----------        -----------
  Elihu Inselbuch, Esq.         Member              $950
  Trevor W. Swett III, Esq.     Member              $675
  Kevin C. Maclay, Esq.         Member              $510
  Rita C. Tobin, Esq.           Of Counsel          $545
  Todd E. Phillips, Esq.        Associate           $300

Generally, Caplin's hourly rates are:

  Professional                   Hourly Rate
  ------------                   -----------
  Members and of Counsel         $410 to $950
  Associates                     $230 to $410
  Paralegals                     $200 to $240

Caplin will also be reimbursed for its out-of-pocket expenses.

Mr. Inselbuch assures the Court that Caplin Drysdale, Chartered,
is a "disinterested person" as that phrase is defined in Sections
101(14) and 328(c) of the Bankruptcy Code.

                     U.S. Trustee Objects

Diana G. Adams, the United States Trustee for Region 2, contends
that the Application fails to "document the need for service"
prior to the appointment of the Asbestos Committee or prove that
extraordinary circumstances were present, or prove that the
Stuart's retention was necessary between October 6, 2009 and March
2, 2010.

On behalf of the U.S. Trustee, Trial Attorney Andrew D. Velez-
Rivera, Esq., in New York, explains that while the Asbestos
Committee seeks to retain Caplin on a nunc pro tunc basis,
effective as of October 6, 2009, the Asbestos Committee was
appointed by the U.S. Trustee only on March 2, 2010.  Caplin
allegedly began providing legal services at that time to an
unofficial subcommittee of the Official Committee of Unsecured
Creditors.

"Though sometimes created voluntarily by official committees in
large reorganization cases for the purposes of exercising internal
managerial efficiency and spreading the workload, subcommittees
are authorized and governed by only the internal by-laws of their
larger committees.  There is, however, no authority in the
Bankruptcy Code, the Rules or decisional law for the official
appointment or standing of subcommittees, much less their
retention of separate counsel," Mr. Velez-Rivera avers citing
Fulbright & Jaworski v. Sunbeam-Oster Co., Inc. (In re Allegheny
Int'l, Inc.), 139 B.R. 336, 346 (W.D. Pa. 1992).

Mr. Velez-Rivera specifies that Section 101 of the Bankruptcy Code
is void of statutory provisions permitting judicial approval of an
official committee's retention of counsel, effective prior to the
date that the counsel was selected.  Moreover, Section 1103(a)
clearly and unambiguously provides that an official committee's
counsel cannot be selected any earlier than the time at which the
committee convenes the meeting at which the selection is made;
hence, the Court cannot enter a retention order as of an earlier
date.

Prior to the formation of the Asbestos Committee, Caplin was not
cloaked with any official authority, and its involvement in these
bankruptcy cases was unknown to the U.S. Trustee.  Moreover, there
simply is no legal authority countenancing the retention of the
Firm as of a date before its client came into existence, Mr.
Velez-Rivera tells the Court.

According to Mr. Velez-Rivera, authorizing the retention of Stuart
as of October 6, 2009 -- as of a date prior to the appointment of
the Asbestos Committee --  would lead to several "absurd results,"
because it would mean that the retention of the Firm would be
authorized:

  (1) as of a date before its client actually existed;

  (2) as of a date before its attorney-client relationship with
      the Asbestos Committee actually began; and

  (3) in a manner permitting the Firm to have simultaneously
      represented the Asbestos Committee and the Subcommittee --
      two entities with potentially conflicting views in the
      Debtors' cases.

                  Asbestos Committee Responds

Mr. Inselbuch points out that Section 1103(a) does not purport to
address the authority of bankruptcy courts to issue retroactive
retention orders, and neither does the UST cite a single case that
has adopted its "rigid and formalistic position."

According to Mr. Inselbuch, there was pressure for Caplin to begin
work before its retention could be approved by the Court.  The
Debtors, the Committee of Unsecured Creditors and the current
asbestos constituency all considered it necessary for Caplin to
commence working in October 2009 "so that issues affecting the
constituency of current asbestos creditors could be framed and
addressed in time for the Debtors to meet what was then their goal
of confirming a plan of liquidation in April 2010."  As requested,
Caplin had the task of representing that constituency through the
Subcommittee.

Although Caplin performed work under the aegis of the
Subcommittee, its work now inures to the benefit of the same
constituency of asbestos victims that the Asbestos Committee is
meant to serve, Mr. Inselbuch points out.

The Debtors and the Creditors' Committee have not objected to the
nunc pro tunc retention of Caplin, because they approved of the
firm's commencement of work in October 2009, which served the
parties' shared goal of expediting the formulation and
confirmation of a plan, and was thus of value to the Debtors'
estates, says Mr. Inselbuch.

Mr. Inselbuch contends that the Court has discretion to grant nunc
pro tunc retentions in the exercise of its equitable powers.
Moreover, no third parties will suffer any prejudice if Caplin's
retention is approved retroactively as of October 6, 2009.

                       About General Motors

General Motors Company -- http://www.gm.com/-- is one of the
world's largest automakers, tracing its roots back to 1908.  With
its global headquarters in Detroit, GM employs 209,000 people in
every major region of the world and does business in some 140
countries.  GM and its strategic partners produce cars and trucks
in 34 countries, and sell and service these vehicles through these
brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, Opel,
Vauxhall and Wuling.  GM's largest national market is the United
States, followed by China, Brazil, the United Kingdom, Canada,
Russia and Germany.  GM's OnStar subsidiary is the industry leader
in vehicle safety, security and information services.

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

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

                    About Motors Liquidation

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

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

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


GENERAL MOTORS: Asbestos Committee Wants Valuation Consultant
-------------------------------------------------------------
The Official Committee of Unsecured Creditors Holding Asbestos-
Related Claims seeks Judge Gerber's permission to retain Legal
Analysis Systems, Inc., as consultant on the valuation of asbestos
liabilities, nunc pro tunc to March 15, 2010.  The Asbestos
Committee specifically seeks to employ Mark A. Peterson, Ph.D., a
principal at Legal Analysis.

Elihu Inselbuch, Esq., a member at Caplin & Drysdale, Chartered,
in New York, relates, on behalf of the Asbestos Committee, that
Legal Analysis is qualified to act as valuation consultant because
of its wealth of experience in providing expert consultation and
advice regarding estimating liabilities for  present and future
asbestos claims in asbestos-related reorganization proceedings.

Legal Analysis' services will be necessary in order to enable the
Asbestos Committee to investigate, analyze and estimate the likely
amount of the Asbestos Claims.  A fair and accurate valuation of
the Asbestos Claims is necessary in order for the Asbestos
Committee to participate in the administration of these cases and
the negotiation of a plan of liquidation, and otherwise to perform
its duties, Mr. Inselbuch tells Judge Gerber.

Specifically, Legal Analysis' scope of services includes:

  (a) development of oversight methods and procedures so as to
      enable the Asbestos Committee to fulfill its
      responsibilities of reviewing and analyzing any proposed
      disclosure statement, plan, and other similar documents
      in the Chapter 11 cases;

  (b) review and analyses of the Debtors' asbestos claims
      database and review and the resolution of various Asbestos
      Claims;

  (c) estimation of the Debtors' liability for Asbestos Claims
      that are pending at the present time as well as those that
      will be filed in the future;

  (d) quantitative analyses of alternative claims resolution
      Procedures including estimation of payments that would be
      made to various types of claims under those alternatives
      and development of cash flow analysis of an asbestos
      compensation trust under alternative procedures;

  (e) evaluation of reports and opinions of experts and
      consultants retained by other parties to the Chapter 11
      cases;

  (f) evaluations and analyses of proposed proofs of claims and
      bar dates and analyses of data from proofs of claim for
      asbestos claims;

  (g) quantitative analyses of other matters related to the
      asbestos claims as may be requested by the Asbestos
      Committee; and

  (h) testimony on other matters as is required by the Asbestos
      Committee.

Legal Analysis' professionals will be paid based on these hourly
rates:

  Professional                   Hourly Rate
  ------------                   -----------
  Mark A. Peterson                  $800
  Daniel Relles (Statistician)      $475

The firm will also be reimbursed for necessary out-of-pocket
expenses.

Mr. Peterson declares that Legal Analysis is a "disinterested
parties" within the meaning of Sections 101(14) and 328(c) of the
Bankruptcy Code.

                         *     *     *

The Asbestos Committee notes that it did not receive objections to
the Employment Application.  The Court approved the application.

                       About General Motors

General Motors Company -- http://www.gm.com/-- is one of the
world's largest automakers, tracing its roots back to 1908.  With
its global headquarters in Detroit, GM employs 209,000 people in
every major region of the world and does business in some 140
countries.  GM and its strategic partners produce cars and trucks
in 34 countries, and sell and service these vehicles through these
brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, Opel,
Vauxhall and Wuling.  GM's largest national market is the United
States, followed by China, Brazil, the United Kingdom, Canada,
Russia and Germany.  GM's OnStar subsidiary is the industry leader
in vehicle safety, security and information services.

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

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

                    About Motors Liquidation

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

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

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


GIA TRAN: Case Summary & 2 Largest Unsecured Creditors
------------------------------------------------------
Joint Debtor: Gia Van Tran
              Chau Tan Nguyen
              2503 Galahad Court
              San Jose, CA 95122

Bankruptcy Case No.: 10-53525

Chapter 11 Petition Date: April 6, 2010

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

Judge: Roger L. Efremsky

Debtor's Counsel: Michael H. Luu, Esq.
                  Law Offices of Michael H. Luu
                  1340 Tully Road #309
                  San Jose, CA 95122
                  Tel: (408) 425-6221
                  E-mail: mikeluu63@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 2 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/canb10-53525.pdf

The petition was signed by Gia Van Tran and Chau Tan Nguyen.


GMAC INC: ResCap to Sell European Mortgage Businesses
-----------------------------------------------------
GMAC Financial Services's mortgage subsidiary, Residential
Capital, LLC (ResCap), has agreed to sell its European mortgage
assets and businesses to affiliates of certain funds managed by
affiliates of Fortress Investment Group LLC.

These transactions represent approximately 10% of ResCap's
Dec. 31, 2009 total assets and approximately 40% of total assets
on a pro forma basis, adjusted for the required FAS 167 accounting
treatment for certain off-balance sheet securitizations that are
recorded on-balance sheet effective Jan. 1, 2010.  The assets in
the transactions are valued at approximately the levels
established in the fourth quarter of 2009 and there is no material
gain or loss expected.

"The agreements to sell the European mortgage assets and
businesses are key steps toward our objective of reducing the
ongoing exposure for GMAC from the legacy mortgage operation.
This is a significant achievement and will contribute in putting
GMAC on a path toward improved performance," said GMAC Chief
Executive Officer Michael A. Carpenter.

"We are pleased to have reached agreements to sell these assets
and operations and believe this is a favorable outcome for all
parties involved," commented ResCap Chief Executive Officer Thomas
Marano.  "These transactions validate the approach we are taking
to pursue alternatives for our legacy mortgage businesses that
strive to reduce exposure and preserve value."

Under the agreements, the sale will include certain loan assets
(including non-performing loans) and servicing rights, and the
shares of the related operating entities in the United Kingdom,
Germany and The Netherlands.  The closing of the transactions are
subject to regulatory approval and customary closing conditions.

Separately, GMAC closed a whole loan transaction in the United
Kingdom for USD $177 million (GBP 116 million) on March 31, 2010.
With the combination of this whole loan transaction, the
transactions with the Fortress affiliates, and certain other whole
loan sales that are in progress, GMAC will effectively exit the
European mortgage market.

                            About GMAC

GMAC Inc. -- http://www.gmacfs.com/-- is a bank holding company
with 15 million customers worldwide.  GMAC's business operations
include automotive finance, mortgage operations, insurance and
commercial finance.  The company also offers retail banking
products through its online bank, Ally Bank.  As of December 31,
2009, GMAC had approximately $172 billion in assets.

GMAC Inc. was founded in 1919 as a wholly owned subsidiary of
General Motors Corporation.  On November 30, 2006, General Motors
Corporation sold a 51% interest in the Company to FIM Holdings
LLC, an investment consortium led by Cerberus FIM Investors, LLC,
the sole managing member.  On December 24, 2008, the Board of
Governors of the Federal Reserve System approved the Company's
application to become a bank holding company under the Bank
Holding Company Act of 1956, as amended.  In connection with this
approval, GM and FIM Holdings  were required to significantly
reduce their voting equity ownership interests in GMAC.  These
reductions in ownership occurred in 2009.

Ally Bank, a unit of GMAC Financial Services, is an online U.S.
bank that provides an array of products, including online savings
accounts, money-market savings accounts and a variety of no
penalty certificates of deposit.  The bank was founded on three
core values: talking straight, doing what's right and being
obviously better than the competition.  Ally Bank's total assets
were $42.5 billion at the end of the second quarter of 2009.

Headquartered in Minneapolis, Minnesota, Residential Capital LLC
-- http://www.rescapholdings.com/-- is the home mortgage unit
of GMAC Financial Services, which is in turn wholly owned by GMAC
LLC.

                         *     *     *

For the 2009 full year, GMAC reported a net loss of $10.3 billion,
compared to net income of $1.9 billion in 2008.  GMAC reported
that as of Dec. 31, 2009, it had $172.306 billion in total assets
and total debt of $98.313 billion.

GMAC says there is substantial doubt about ResCap's ability to
continue as a going concern.  GMAC says that should ResCap file
for bankruptcy, its investment related to ResCap's equity position
would likely be reduced to zero.

Dow Jones notes GMAC has received $16.3 billion of federal aid as
part of an effort to avoid bankruptcy.  It converted into a bank-
holding company at the end of 2008 to help make it through the
financial crisis.

In February 2010, Moody's Investors Service upgraded the senior
unsecured rating of GMAC and GMAC-supported subsidiaries to B3
from Ca, with a stable rating outlook.  At the end of January,
Standard & Poor's Ratings Services raised its long-term
counterparty credit rating on both GMAC and Residential Capital to
'B' from 'CCC'.


GODWIN CATALLA: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Godwin L. Catalla
        66 Bighorn Canyon
        San Antonio, TX 78258

Bankruptcy Case No.: 10-51336

Chapter 11 Petition Date: April 6, 2010

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

Judge: Ronald B. King

Debtor's Counsel: William R. Davis, Jr., Esq.
                  Langley & Banack, Inc
                  745 E Mulberry Avenue, Suite 900
                  San Antonio, TX 78212
                  Tel: 210-736-6600
                  Fax: 210-735-6889
                  E-mail: wrdavis@langleybanack.com

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

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/10-51336.pdf

The petition was signed by the Debtor.


GREAT ATLANTIC: Moody's Downgrades Default Rating to 'Caa3'
-----------------------------------------------------------
Moody's Investors Service downgraded the Probability of Default
Ratings of The Great Atlantic and Pacific Tea Company to Caa3 from
Caa1, and its Corporate Family Rating to Caa2 from Caa1.  The
company's Speculative Grade Liquidity Rating to was also
downgraded to SGL-3 from SGL-2, andthe company's debt and
preferred stock ratings were also downgraded as shown below.  This
completes the review for possible downgrade started on January 12,
2010.

The downgrades reflect Moody's expectation that A&P's sales
performance and profit margins are unlikely to recover quickly
from their recent weak levels, and that cash flow and credit
metrics are therefore likely to remain extremely weak.  "Despite
steps taken to maintain satisfactory liquidity, Moody's believe
that A&P's capital structure is ultimately unsustainable at
current performance levels," said Marie Menendez, Senior Vice
President at Moody's.  As a result, Moody's believes there is a
relatively high probability that the company could pursue a
material change to its capital structure.  This could include
transactions which Moody's would view as a distressed exchange and
hence a default.

The rating outlook is negative, and reflects the likelihood
possibility that ratings could fall further unless the company is
able to improve its cash from operations.  The ratings reflect a
strong likelihood that debtholders are likely to have a
significant loss on their holdings.  A rating upgrade would
require development and execution of a strategic plan to improve
operating results and credit metrics, and an ability to maintain
good liquidity after funding capital investment.

The SGL-3 Speculative Grade Liquidity rating reflects adequate
liquidity.  Cash balances and availability under its asset-based
revolving credit facility are good.  Given the company's weak
operating performance, Moody's anticipates that operating cash
flow will not be sufficient to finance operating needs over the
next year, and that A&P will likely need to draw on its credit
facility to fund its June 2011 debt maturity.

The Corporate Family Rating is Caa2, one notch above the
Probability of Default Rating, and reflects the utilization of a
family recovery rate of 67%.  The higher than average family
recovery rate reflects the moderate amount of funded debt in A&P's
capital structure relative to the company's total enterprise
value, resulting in higher than average expectated recovery in
case of default.

These ratings were downgraded and LGD point estimates adjusted:

  -- Corporate Family Rating to Caa2 from Caa1

  -- Probability of Default Rating to Caa3 from Caa1

  -- Senior convertible notes to Caa3 (LGD 4, 53%) from Caa2 (LGD
     5, 79%)

  -- Senior unsecured notes to Caa3 (LGD4, 53%) from Caa2 (LGD 5,
     79%)

  -- Senior Unsecured Shelf to (P)Caa3 (LGD 4, 53%) from (P)Caa2
     (LGD 5, 79%)

  -- Subordinated Shelf to (P)Ca (LGD 5, 85%) from (P)Caa3 (LGD 6,
     97%)

  -- JR.  Subordinated Shelf to (P)Ca (LGD 5, 85%) from (P)Caa3
     (LGD 6, 97%)

  -- Preferred Shelf to (P)Ca (LGD 5, 89%) from (P)Caa3 (LGD 6,
     98%)

  -- Speculative Grade Liquidity Rating to SGL-3 from SGL-2.

This rating was confirmed and points estimates changed:

  -- Senior secured notes at Caa1 (LGD 2, 21%)

The last rating action for Great A&P was the downgrade of its
Corporate Family Rating to Caa1 and placement of all ratings on
review on January 12, 2010.

The Great Atlantic and Pacific Tea Company, headquartered in
Montvale, N.J., operates 433 grocery stores in the Northeast US
with particular concentration in the New York, New Jersey and
Pennsylvania markets.


GREYSTONE PHARMA: Univ. of Tennessee Out of Creditors Committee
---------------------------------------------------------------
Richard F. Clippard, U.S. Trustee for Region 8, reconstituted the
official committee of unsecured creditors in the Chapter 11 case
of Greystone Pharmaceuticals, Inc., to remove the University of
Tennessee, which is considered to be a governmental unit and may
not be a member of the Committee.

The Creditors Committee now consists of:

1. Richard A. Trippeer
   6358 Blue Heron Cove
   Memphis, TN 38120
   E-mail: ratjunior@aol.com

2. Gayle Williams
   Tissue Technologies Holdings, LLC
   1400 Aqua Vista Lane
   Richmond, VA 23231-8136
   E-mail: tissuetech@gmail.com

3. Michael Miller
   31 Pierce Lane
   Norwich, VT 05055
   E-mail: mmillerinv@aol.com

4. Lawrence Kaplan
   17 Riverview Terrace
   Smithtown, NY 11787
   E-mail: LKaplan467@aol.com

5. Martin Doyle, Managing Director
   Hanover Advisors, LLC.
   Dartmouth Regional Technology Center
   16 Cavendish Court
   Lebanon, NH 03766
   E-mail: mdoyle@hanoveradvisors.com

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

                  About Greystone Pharmaceuticals

Fort Myers, Florida-based Greystone Pharmaceuticals, Inc. -- aka
Greystone Medical, Inc., and Greystone Medical Group, Inc. --
operates a pharmaceutical company.  The Company filed for Chapter
11 bankruptcy protection on November 2, 2009 (Bankr. W.D. Tenn.
Case No. 09-32236).  John L. Ryder, Esq., assists the Company in
its restructuring effort.  According to the schedules, the Company
has assets of $25,467,546, and scheduled debts of $22,601,150.


HARTFORD FIN'L: Brower Piven Commences Suit for Stock Holders
-------------------------------------------------------------
Brower Piven, a Professional Corporation disclosed that a class
action lawsuit has been commenced in the United States District
Court for the Southern District of New York on behalf of
purchasers of the common stock of The Hartford Financial Services
Group, Inc. during the period between December 10, 2007 and
February 5, 2009, inclusive.

No class has yet been certified in the above action.

The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 because, contrary to the Company's
assurances during the Class Period that the Company's capital
position was sound and could fully support its current credit
rating, the Company's regulatory capital position was weak and
deteriorating as a result of the Company building massive exposure
to losses from derivative investments, including credit default
swap contracts, way beyond the "corporate bond" risk references
included in The Hartford's quarterly conference calls with
analysts, the Company's leveraged risk through a securities
lending program in which it invested the cash collateral it
received from third-party lenders in extremely risky investments,
including residential and commercial mortgage-backed securities,
the Company's hedging program becoming increasingly expensive to
maintain due to high volatility in the equity markets, and the
Company's exposure to the U.S. real estate market and credit
default swap contracts.  In addition, the complaint alleges that
during the Class Period, the Company overstated its book value by
not accruing for liabilities for repayment of workers compensation
insurance premiums consistent with what was actually justified.
According to the complaint, after the Company report unexpectedly
poor fourth quarter and 2008 year-end financial results on
February 5, 2009, the value of The Hartford's stock declined
significantly.

To join as lead plaintiff, contact Brower Piven at
http://www.browerpiven.com/by e-mail at hoffman@browerpiven.com
by calling 410/415-6616, or at Brower Piven, A Professional
Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153.
Attorneys at Brower Piven have combined experience litigating
securities and class action cases of over 40 years.

                      About Hartford Financial

The Hartford Financial Services Group, Inc. --
http://www.thehartford.com/-- is an insurance and financial
services company.  It provides investment products, individual
life, group life and group disability insurance products, and
property and casualty insurance products in the United States.
The Hartford is organized into two operations: Life, and Property
and Casualty. The Life and Property & Casualty operations conduct
business in 11 operating segments.  Life is organized into six
segments: Retail Products Group (Retail), Individual Life, Group
Benefits, Retirement Plans, and International and Institutional
Solutions Group (Institutional).

                         *     *     *

As reported in the Troubled Company Reporter on March 28, 2010,
Fitch Ratings assigned a 'BB' rating on the company's $500 million
7.25% mandatory convertible preferred stock series F.


HOTEL EQUITY FUND V: Nevis Asks Court to Abstain Ch. 11 Hearing
---------------------------------------------------------------
netDockets reports that the sovereign government of the island
nation of Nevis, known as the Nevis Island Administration, asked
the U.S. Bankruptcy Court for the District of Delaware to abstain
from hearing an involuntary Chapter 11 bankruptcy case filed
against Hotel Equity Fund V, LLC.  Hotel Equity Fund V owns the
Four Seasons Nevis resort, which is presently closed as a result
of damage sustained from Hurricane Omar in October 2008.

According to netDockets, the Nevis government asserts that the
resort's continuing closure, and the potential impediment to the
resort's reopening resulting from the bankruptcy filing,
constitutes a "national emergency" for the island, as the Four
Seasons resort is the island's largest employer.  Prior to its
closure, the resort directly employed 20% of the island's
workforce and indirectly accounted for 35% to 40% of the total
workforce.  The resort also accounted for 40% of the gross
national product of Nevis.

According to netDockets, the government asserts that the
bankruptcy filing jeopardizes the scheduled November 1, 2010,
reopening of the resort -- in time for the island's winter travel
season.  The situation is critical, the government says, because
construction at the site has ceased and must restart by May 1 in
order to be completed by the deadline.

netDockets says the resort is indirectly owned by Maritz Wolff &
Co. through Hotel Equity Fund V and operated by Four Seasons
Hotels and Resorts, B.V.  netDockets relates that the government
claims that Maritz Wolff was already in default of a $126 million
loan at the time of Hurricane Omar and walked away from the resort
following the hurricane.  The servicer of the loan, Wachovia/Wells
Fargo, has been managing all reconstruction efforts while twice
attempting to foreclose on the property.  The second foreclosure
attempt was scheduled to occur March 25.

netDockets further relates that Wachovia/Wells Fargo has halted
its reconstruction efforts pending a determination regarding its
foreclosure rights.  To that end, it has already sought a
dismissal of the involuntary case to allow the foreclosure to
proceed.  netDockets reports that the Nevis government notes that
it joins in that request, but seeks abstention because it believes
that its motion may be addressed by the court more quickly.

The Four Seasons Resort Homeowners Association Limited is also a
party to Nevis' motion, according to netDockets.  Nevis seeks a
status conference on its request today, April 13, beginning at
12:30 p.m. (Eastern).

Hotel Equity's principal asset is the Four Seasons Resort Nevis,
West Indies.  The resort's Web site says the hotel was damaged by
Hurricane Omar in 2008 and is closed.  Capstead Mortgage Corp.,
Berglund Architects, LLC and Island Water World Inc. N.V. filed
the involuntary Chapter 11 petition on March 19 (Bankr. D. Del.
Case No. 10-10951).  Capstead is one of the lenders under the $126
million loan which the government asserts is out of the money and
therefore wanted to halt the foreclosure.  Capstead asserts a
$275,000 claim for an unsecured loan.  Berglund asserts a $17,369
trade payable and Island Water World asserts roughly $9,900 trade
claim.


HOTELS UNION: DekaBank Wants Dismissal of Chapter 11 Bankr. Case
----------------------------------------------------------------
DekaBank Deutsche Girozentrale has asked the U.S. Bankruptcy Court
for the District of Delaware to dismiss the Chapter 11 bankruptcy
case of Hotels Union Square Mezz 1 LLC and to prevent the Debtor
from filing another case under any chapter of the U.S. Bankruptcy
Code for a period of six months.

According to DekaBank, the Debtor filed for Chapter 11 bankruptcy
case on March 23, 2010, an afternoon before DekaBank was scheduled
to hold a UCC foreclosure sale and auction on the Debtor's equity
in Hotels Union Square LLC (the Project Entity) which was pledged
to DekaBank to secure the bank's $64.4 million mezzanine loan (the
Mezz A Loan) to the Debtor.

The Debtor's Chapter 11 petition lists DekaBank as the sole
creditor, with a $60 million claim, and one equity holder, Hotels
Union Square Mezz 2 LLC.

DekaBank says that:

     a. the Debtor's sole asset is its 100% equity interest in
        the Project Entity;

     b. the Debtor has no employees;

     c. the Debtor has been in payment default on the Mezz A Loan
        since October 2009, and all cash flow is being expended on
        hotel operations or senior mortgage loan debt service, or
        trapped at Project Entity level;

     e. after doing nothing for three months since taking control
        of the borrowing group, LEM Mezzanine recently replaced
        the independent directors of the Debtor with directors who
        agreed to assist LEM to cause the Debtor to file its
        Chapter 11 petition, aiding LEM's effort to protect its
        equity position while harming the stability of the hotel,
        and the interests of vendors, employees and institutional
        creditors.  LEM attempted to buy Mezz A Loan note at 20%
        discount, using threat of filing bankruptcy as leverage to
        force the sale or extract a significant cash payment for
        itself;

     f. without DekaBank's favorable vote, the Debtor can't
        confirm any reorganization, sale, or liquidation Chapter
        11 plan;

     g. LEM's threat to file bankruptcy and its breach of
        fiduciary duty to DekaBank as the sole creditor of this
        estate and also its disregard for the lender to the Hotels
        Union Square Mezz 2 LLC which holds as its collateral the
        equity of this Mezz A entity estate.

DekaBank is represented by Bayard, P.A., and Sonnenschein Nath &
Rosenthal LLP.

                        About Hotels Union

Philadelphia, Pennsylvania-based Hotels Union owns the W New York
Union Square hotel, located on Park Avenue South.  Hotels Union is
controlled by an affiliate of Lubert-Adler Real Estate Funds known
as LEM.

Hotels Union Square Mezz 1 LLC, dba Istithmar Hotels Union Square
Mezz 1 LLC, filed for Chapter 11 bankruptcy protection on
March 23, 2010 (Bankr. D. Del. Case No. 10-10971).  The company
estimated its assets and debts at $50,000,001 to $100,000,000.

Hotels Union Square Mezz 2 LLC, dba Istithmar Hotels Union Square
Mezz 2 LLC, filed for Chapter 11 bankruptcy protection on
March 25, 2010 (Bankr. D. Del. Case No. 10-11001).  The company
estimated its assets and debts at $10,000,001 to $50,000,000.

Steven M. Yoder, Esq., at Potter Anderson & Corroon LLP, assists
the Debtors in their restructuring efforts.


HOTELS UNION: DekaBank Wants to File Own Plan for Debtor
--------------------------------------------------------
DekaBank Deutsche Girozentrale has asked the U.S. Bankruptcy Court
for the District of Delaware to terminate the exclusivity periods
of Hotels Union Square Mezz 1 LLC to file a Chapter 11 plan and
solicit acceptances to allow DekaBank to propose an alternative
plan.  The Debtor's current exclusivity period and acceptance
period will expire on July 21, 2010, and September 20, 2010,
respectively.

The W Hotel Union Square New York, New York is owned by Hotels
Union Square LLC (the Project Entity) and is encumbered by an
approximately $115 million mortgage on the property.  The Debtor
owns 100% of the Project Entity.

The equity in the Project Entity (the Collateral) is pledged to
DekaBank pursuant to the December 11, 2006 Amended and Restated
Mezzanine A Pledge and Security Agreement between DekaBank and the
Debtor, to secure DekaBank's mezzanine loan to the Debtor in the
approximate amount of $64.4 million.  DekaBank hasn't received any
payments on its mezzanine loan since the September 2009 payment
was received.

The Debtor is owned by Hotels Union Square Mezz 2 LLC, the
borrower of a second priority separate mezzanine loan in the
approximate amount of $37 million.  The loan was reportedly
transferred to Union Square Real Holding Corporation (the Mexx B
Lender).  The Mezz B loan is also in default, and a UCC
foreclosure sale on that loan was noticed and scheduled for
April 1, 2010.  On March 25, 2010, the Mezz B Entity filed for
Chapter 11 bankruptcy protection.

The Mezz B Entity was owned by Istithmar Hotels Union Square Mezz
3 LLC (the Mezz C Entity), the borrower of a third priority
separate mezzanine loan in the approximate amount of $20 million
which was held in 2009 by 201 Park Avenue South PEH, LLC, an
affiliate of LEM Mezzanine.  The equity in the Mezz C Entity was
originally owned by an Istithmar Building FZE affiliate.  The
equity in the Mezz B Entity, the collateral for the Mezz C loan,
was reportedly foreclosed upon in a public UCC sale held on
December 8, 2009, and the LEM affiliate, as the secured creditor,
submitted a credit bid in the approximate amount of $2 million.
That final bid was the highest unconditional offer made at that
sale, although the Istithmar affiliate that originally owned the
equity in the Mezz C Entity bid a higher amount, and LEM has
advised DekaBank that its affiliate has closed on that foreclosure
sale and is the owner of the Mezz C Entity.  Since acquiring the
Mezz C entity, LEM hasn't made any payments on either the Mezz A
loan or the Mezz B loan, and in the one month when there was
insufficient cash flow from the project to pay the monthly debt
payment on the project loan, LEM, as the most junior mezzanine
lender, didn't make that payment either.  DekaBank made the
payment instead.

DekaBank began noticing a public UCC foreclosure sale of the
Collateral in January 2010.  DekaBank received approximately 10
non-binding offers to bid at the UCC foreclosure sale from parties
that signed confidentiality agreements.  DekaBank eventually
signed an asset purchase and sale agreement setting a purchase
price of $61 million for the Collateral, or approximately
$3.4 million less than the current obligations to it, with an
affiliate of Host Hotels and Resorts, Inc., which was the highest
and best bid received.  The Debtor filed for bankruptcy the
afternoon before DekaBank was scheduled to hold the UCC
foreclosure sale and auction.  The Debtor's Chapter 11 petition
lists DekaBank as its sole creditor, with a claim in the
approximate amount of $60 million, and one equity holder, the Mezz
B Entity.

DekaBank says that as the sole creditor, it should be permitted to
formulate and propose a Chapter 11 plan now and not be held
hostage by the Debtor's exclusive periods for 120 to 180 days or
longer.  According to DekaBank, the Debtor cannot have its Chapter
11 plan confirmed without DekaBank's favorable vote, since
DekaBank is the sole creditor in the Mezz A estate.  No cramdown
plan is possible because LEM can't satisfy Section 1129(a)(10) of
the U.S. Bankruptcy Code with an impaired accepting class of
creditors not counting the vote of insiders.

Given the voting proxy exercised by Istithmar prepetition, it is
unclear whether LEM even has any corporate authority to file a
plan for the Mezz A Entity or take other actions in this case,
DekaBank states.  The intercreditor agreement among DekaBank, the
Mezz B Lender, and the lender under the Mezz C loan limits the
ability of the Mezz B lender and any remaining lender under the
Mezz C loan to participate in this case.  Under the intercreditor
agreement, DekaBank was appointed as the agent for the junior
lenders and was granted an irrevocable power of attorney to take
any and all actions in connection with this case on behalf of
itself and any junior creditor, including to file and/or prosecute
any claims and to vote to accept or reject a plan.

DekaBank says that it is prepared to file a Chapter 11 plan
generally based on the economics of the Host $61 million offer if
the Court determines to grant that form of relief rather than lift
the automatic stay or dismiss the entire case as a bad faith
filing as DekaBank is requesting in separate pleadings being filed
simultaneously herewith.

DekaBank is represented by Bayard, P.A., and Sonnenschein Nath &
Rosenthal LLP.

                        About Hotels Union

Philadelphia, Pennsylvania-based Hotels Union owns the W New York
Union Square hotel, located on Park Avenue South.  Hotels Union is
controlled by an affiliate of Lubert-Adler Real Estate Funds known
as LEM.

Hotels Union Square Mezz 1 LLC, dba Istithmar Hotels Union Square
Mezz 1 LLC, filed for Chapter 11 bankruptcy protection on
March 23, 2010 (Bankr. D. Del. Case No. 10-10971).  The company
estimated its assets and debts at $50,000,001 to $100,000,000.

Hotels Union Square Mezz 2 LLC, dba Istithmar Hotels Union Square
Mezz 2 LLC, filed for Chapter 11 bankruptcy protection on
March 25, 2010 (Bankr. D. Del. Case No. 10-11001).  The company
estimated its assets and debts at $10,000,001 to $50,000,000.

Steven M. Yoder, Esq., at Potter Anderson & Corroon LLP, assists
the Debtors in their restructuring efforts.


INDUSTRY WEST: Plan Confirmation Hearing Set for April 23
---------------------------------------------------------
The Hon. Alan Jaroslovsky of the U.S. Bankruptcy Court for the
Northern District of California will consider at a hearing on
April 23, 2010, at 10:00 a.m., the confirmation of Industry West
Commerce Center, LLC's Plan of Reorganization.  The hearing will
be held at the U.S. Bankruptcy Court, 99 South E. St., Santa Rosa,
California.  Objections, if any, are due on April 20.

The Debtor received Court approval of its disclosure statement for
the proposed Plan.  The Bankruptcy Court approval of the Debtor's
disclosure statement allows the Debtor to commence solicitation of
votes for confirmation of the Plan.  Completed ballots are due
April 16, 2010.  The Debtor's counsel will file a ballot summary
by April 20.

According to the Disclosure Statement, the Plan seeks to
restructure debts as follows:

   -- The secured debt in favor of the first, second, and third
      mortgage holders will be reamortized into new notes in the
      same priority secured by the existing deeds of trust,
      bearing interest at, respectively, (1) the variable rate
      specified in the first note; (2) 5.5% per annum as to the
      second note, and (3) 5% per annum as to the third note.
      Interest only will be payable monthly and the entire balance
      of these notes will be due in full in seven years.

   -- Unsecured creditors will be paid in full with interest at
      the federal judgment interest rate (0.42% per annum) in four
      quarterly installments commencing one year from the
      effective date of the Plan through a cash flow from the
      Debtor's property.

   -- any delinquent real property taxes will be cured, with
      statutory interest, through a five-year payment plan of
      semi-annual installments, starting April 10, 2010.

Payments on these obligations will be funded through the rental
income from the Debtor's real property.

Under the Plan, if the Debtor fails to meet these requirements,
the secured lenders will be permitted to foreclose and/or the case
may be converted to Chapter 7 liquidation proceedings on the
motion of a party in interest.

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

                    About Industry West Commerce

Santa Rosa, California-based Industry West Commerce Center, LLC, a
California limited liability company, filed for Chapter 11
bankruptcy protection on January 14, 2010 (Bankr. N.D. Calif. Case
No. 10-10088).  John H. MacConaghy, Esq., at MacConaghy and
Barnier, assists the Company in its restructuring effort.  The
Company listed $10,000,001 to $50,000,000 in assets and
$10,000,001 to $50,000,000 in liabilities.


INFOLOGIX INC: Appoints Melvin Keating to Board of Directors
------------------------------------------------------------
The Board of Directors of InfoLogix, Inc., on April 6, 2010,
elected Melvin L. Keating to the Board of Directors.  Mr. Keating,
an independent director, has been appointed to the Audit Committee
and will serve as its chairman.  The Board of Directors has
determined that Mr. Keating is an "audit committee financial
expert" as defined by Item 407(d)(5)(ii) of Regulation S-K as
adopted by the Securities and Exchange Commission.

Mr. Keating was President and Chief Executive Officer of Alliance
Semiconductor Corporation, a worldwide manufacturer and seller of
semiconductors, from 2005 to 2008.  From 2004 to 2005, Mr. Keating
served as Executive Vice President, Chief Financial Officer and
Treasurer of Quovadx Inc., a healthcare software company.  Mr.
Keating was employed as a Strategy Consultant for Warburg Pincus
Equity Partners from 1997 to 2004, providing acquisition and
investment target analysis and transactional advice.  Mr. Keating
also was President and Chief Executive Officer of Sunbelt
Management Company, a private, European-owned real estate
development firm, from 1995 to 1997.  From 1986 to 1995, Mr.
Keating was Senior Vice President, Financial Administration of
Olympia & York Companies/Reichmann International, responsible for
joint ventures, financial reporting and acquisitions.  Mr. Keating
is also a director of White Electronic Designs Corp., serving on
its Audit Committee and Operations Committee, and a director of
Aspect Medical Systems Inc., serving on its Strategic Committee
and Compensation Committee.

As an independent director and the chairman of the Audit
Committee, Mr. Keating will be entitled to receive an annual
retainer of $25,000.  There is no family relationship, arrangement
or understanding between Mr. Keating and any other person pursuant
to which he was selected as a director of the Company.

With the appointment of Mr. Keating to the Audit Committee, the
Company believes that it has regained compliance with Nasdaq's
audit committee requirements as set forth in Listing Rule 5605.

Mr. Keating holds a B.A. degree from Rutgers University, as well
as an M.S. in Accounting and M.B.A in Finance, both from The
Wharton School of the University of Pennsylvania.

"Mel Keating is among the most widely respected financial experts
in the investor relations community, and we are pleased to have
him joining our board and chairing our audit committee," said
David Gulian, president and CEO of InfoLogix.  "With Mel's
operational experience as a CEO, his prior board and audit
committee oversight, and his expertise in both the healthcare and
commercial marketplaces, he will be able to help us transition
into the last phase of our strategic plan to become a full
solutions company.  Mel understands the mobility space and
believes it will be a major segment of our future success.  On
behalf of the entire InfoLogix executive team, we are looking
forward to working with him."

"It is a distinct honor to be joining the InfoLogix Board of
Directors," said Mel Keating.  "InfoLogix has created a strong
market position at the intersection of healthcare mobility and SAP
supply chain solutions.  With continued fiscal discipline,
streamlined operations and a drive toward profitability, I believe
that the company will be poised for a strong future."

                          About InfoLogix

Based Hatboro, Pennsylvania, InfoLogix Inc. (NASDAQ: IFLG) --
http://www.infologix.com/-- provides enterprise mobility
solutions for the healthcare and commercial industries.  InfoLogix
uses the industry's most advanced technologies to increase the
efficiency, accuracy, and transparency of complex business and
clinical processes.  With 19 issued patents, InfoLogix provides
mobile managed solutions, on-demand software applications, mobile
infrastructure products, and strategic consulting services to over
2,000 clients in North America including Kraft Foods, Merck and
Company, General Electric, Kaiser Permanente, MultiCare Health
System and Stanford School of Medicine.

At September 30, 2009, the Company had total assets of $42,332,000
against total liabilities of $45,512,000, resulting in
stockholders' deficiency of $3,180,000.

                           Going Concern

The Company has said, "Our condensed consolidated financial
statements for the three and nine months ended September 30, 2009
have been prepared on a going concern basis, which contemplates
continuing operations, securing additional debt or equity
financing, selling certain assets, and realizing assets and
liabilities in the ordinary course of business.  However, we have
incurred significant net losses from 2006 through 2009, including
net losses of $11,513 for the nine months ended September 30, 2009
and have accumulated a stockholders' deficiency of $3,180.  We
have substantial liquidity requirements including monthly interest
on our outstanding debt and those related to the repayment of our
revolving line of credit that comes due on May 1, 2011, as well as
to earn out payments for past acquisitions.  Though we are taking
measures to improve our liquidity, we do not currently expect to
generate sufficient cash flow from operations to fund those
obligations."


INFOLOGIX INC: Amends Loan and Security Agreement with Hercules
---------------------------------------------------------------
InfoLogix, Inc., and its subsidiaries on April 6, 2010, entered
into Amendment No. 2 to the Amended and Restated Loan and Security
Agreement dated November 20, 2009, as amended, with Hercules
Technology Growth Capital, Inc.  Pursuant to Amendment No. 2,
Hercules funded a term loan in an original principal amount of
$1.35 million.  The proceeds of Term Loan C will be used, in part,
to repay outstanding overadvances under the revolving credit
facility under the Loan Agreement.  Interest on Term Loan C will
accrue at a rate of 8% per annum and, at the discretion of
Hercules, is payable either in cash or in kind by adding the
accrued interest to the principal of Term Loan C.  All principal
outstanding on Term Loan C will be due and payable on April 1,
2013.  Term Loan C may be converted into shares of the Company's
common stock at a price of $3.276 per share at any time at
Hercules' option.  The Company may prepay Term Loan C without
incurring a prepayment penalty charge.

Amendment No. 2 also amends the interest payment options under
term loan B under the Loan Agreement.  Term Loan B bears interest
at (i) 14.5% per annum for the first year, (ii) 20.5% per annum
for the next year, and (iii) 17.5% thereafter, of which 2.5% is
payable in kind compounded monthly, and, prior to Amendment No. 2,
Hercules had the option to turn the PIK interest into cash
interest or additional shares of Common Stock only if certain
predefined metrics were maintained.  The balance of the interest
on Term Loan B was payable in cash monthly commencing December 1,
2009.

Pursuant to Amendment No. 2, Hercules now has the option, in its
sole discretion, to require any and all interest on Term Loan B to
be paid in cash, in kind or in shares of Common Stock.  The number
of shares into which accrued interest will be converted will be
determined based on the Adjusted 60-Day Average Price (as such
term is defined in Amendment No. 2) of the Common Stock on the
date of Hercules' election to convert the interest into shares.

Amendment No. 2 also amends the default interest payment options
under the Loan Agreement.  Whereas prior to Amendment No. 2,
default rate interest was payable in cash or in kind by adding the
accrued interest to the outstanding principal amount, pursuant to
Amendment No. 2, Hercules now has the option to elect to have
default rate interest paid in cash, in kind or in shares of the
Common Stock.  All default rate interest paid in kind will be
added to the outstanding principal amount on Term Loan B,
notwithstanding on which loan the interest has accrued.  If
Hercules elects to have default rate interest paid in shares, the
number of shares into which such accrued default rate interest
will be converted will be determined based on the Adjusted 60-Day
Average Price (as such term is defined in Amendment No. 2) on the
date of Hercules' election to convert the interest into shares.

In connection with Amendment No. 2, the Company and Hercules
entered into a Registration Rights Agreement whereby the Company
agreed to file by May 31, 2010 a shelf registration statement with
the SEC covering the resale of the shares of Common Stock that may
be issued to Hercules upon the conversion of Term Loan C or in
payment of default rate interest with respect to the Revolving
Loan, Term Loan A, Term Loan C and the Equipment Loan.  The
Company has agreed to use its best efforts to have the
registration statement declared effective by the SEC no later than
June 15, 2010, subject to a 60 day extension in the event of SEC
review.  The Company is obligated to maintain the effectiveness of
the registration statement from its effective date through and
until the earlier of (i) the sale of all the Registrable Shares or
(ii) Hercules together with any of its affiliates owning less than
10% of the issued and outstanding shares of Common Stock and the
Registrable Shares may be sold free of any restrictions pursuant
to Rule 144 of the Securities Act of 1933, as amended.

On March 25, 2010, InfoLogix and its subsidiaries borrowed
$1,350,000 from Hercules as an overadvance under its revolving
credit facility pursuant to the Amended and Restated Loan and
Security Agreement dated November 20, 2009 and as amended by
Amendment No. 1 dated February 19, 2010 with Hercules.  The
overadvance borrowed was, with the consent of Hercules, in excess
of the maximum of $500,000 provided for in the Loan Agreement.
The repayment terms and interest rate charged on the overadvance
are as provided for in the Loan Agreement and have not been
modified for this borrowing, but the parties expect to enter into
amendments to the Loan Agreement to convert this overadvance into
a note convertible into shares of the Company's common stock.  It
is expected that the convertible note would bear interest at a
rate of 8% per annum and the principal would be due and payable 36
months after issuance of the note.

On April 2, the Company filed a registration statement and
prospectus relating to the sale from time to time by Hercules, as
selling stockholder, for its own account of up to a total of
3,364,738 shares of the Company's common stock, including up to an
aggregate of 672,948 shares of common stock issuable upon the
exercise of a warrant.  The Company will not receive any of the
proceeds from the sale of the shares.  However, the Company will
receive the proceeds from Hercules' exercise of the warrant, if
any, to the extent the warrant is not exercised on a cashless
basis.

A full-text copy of the registration statement is available at no
charge at http://ResearchArchives.com/t/s?5fc9

                           About InfoLogix

Based Hatboro, Pennsylvania, InfoLogix Inc. (NASDAQ: IFLG) --
http://www.infologix.com/-- provides enterprise mobility
solutions for the healthcare and commercial industries.  InfoLogix
uses the industry's most advanced technologies to increase the
efficiency, accuracy, and transparency of complex business and
clinical processes.  With 19 issued patents, InfoLogix provides
mobile managed solutions, on-demand software applications, mobile
infrastructure products, and strategic consulting services to over
2,000 clients in North America including Kraft Foods, Merck and
Company, General Electric, Kaiser Permanente, MultiCare Health
System and Stanford School of Medicine.

At September 30, 2009, the Company had total assets of $42,332,000
against total liabilities of $45,512,000, resulting in
stockholders' deficiency of $3,180,000.

                           Going Concern

The Company has said, "Our condensed consolidated financial
statements for the three and nine months ended September 30, 2009
have been prepared on a going concern basis, which contemplates
continuing operations, securing additional debt or equity
financing, selling certain assets, and realizing assets and
liabilities in the ordinary course of business.  However, we have
incurred significant net losses from 2006 through 2009, including
net losses of $11,513 for the nine months ended September 30, 2009
and have accumulated a stockholders' deficiency of $3,180.  We
have substantial liquidity requirements including monthly interest
on our outstanding debt and those related to the repayment of our
revolving line of credit that comes due on May 1, 2011, as well as
to earn out payments for past acquisitions.  Though we are taking
measures to improve our liquidity, we do not currently expect to
generate sufficient cash flow from operations to fund those
obligations."


INFOLOGIX INC: Delays 10-K; Expects Wider Net Loss, Going Concern
-----------------------------------------------------------------
InfoLogix, Inc., failed to file its annual report on Form 10-K for
the year ended December 31, 2009, by the March 31 deadline.  In a
regulatory filing, the Company said it was unable to file its
Annual Report within the prescribed time period without
unreasonable effort or expense.  The Company requires the
additional time to complete the preparation of its consolidated
financial statements that will be included in the Form 10-K, for
the Company's independent accountants to complete their review of
the same.

InfoLogix noted that the Company and its subsidiaries completed a
restructuring transaction with Hercules Technology Growth Capital,
Inc. and Hercules Technology I, LLC on November 20, 2009, which
resulted in a change of control of the Company.  The Company and
its independent accountants are diligently working to prepare
financial statements that appropriately reflect the change of
control.  The Company undertakes the responsibility to file its
Form 10-K no later than 15 days after its original due date,
April 15, 2010.

The Company expects to report a net loss for the year ended
December 31, 2009 that reflects an increase over the net loss of
$13.2 million for the year ended December 31, 2008.  The expected
increase in net loss is attributable, in part, to a substantial
increase in interest and related borrowing and default fees to the
Company's senior lender, reduced sales and, during the first six
months of 2009, lower gross margins due to the economic slowdown.

The Company expects its independent registered public accounting
firm to include an explanatory paragraph with respect to the
Company's ability to continue as a going concern in its report on
the Company's consolidated financial statements for the year ended
December 31, 2009.

                           About InfoLogix

Based Hatboro, Pennsylvania, InfoLogix Inc. (NASDAQ: IFLG) --
http://www.infologix.com/-- provides enterprise mobility
solutions for the healthcare and commercial industries.  InfoLogix
uses the industry's most advanced technologies to increase the
efficiency, accuracy, and transparency of complex business and
clinical processes.  With 19 issued patents, InfoLogix provides
mobile managed solutions, on-demand software applications, mobile
infrastructure products, and strategic consulting services to over
2,000 clients in North America including Kraft Foods, Merck and
Company, General Electric, Kaiser Permanente, MultiCare Health
System and Stanford School of Medicine.

At September 30, 2009, the Company had total assets of $42,332,000
against total liabilities of $45,512,000, resulting in
stockholders' deficiency of $3,180,000.

                           Going Concern

The Company has said, "Our condensed consolidated financial
statements for the three and nine months ended September 30, 2009
have been prepared on a going concern basis, which contemplates
continuing operations, securing additional debt or equity
financing, selling certain assets, and realizing assets and
liabilities in the ordinary course of business.  However, we have
incurred significant net losses from 2006 through 2009, including
net losses of $11,513 for the nine months ended September 30,
2009, and have accumulated a stockholders' deficiency of $3,180.
We have substantial liquidity requirements including monthly
interest on our outstanding debt and those related to the
repayment of our revolving line of credit that comes due on May 1,
2011, as well as to earn out payments for past acquisitions.
Though we are taking measures to improve our liquidity, we do not
currently expect to generate sufficient cash flow from operations
to fund those obligations."


INNATECH LLC: Gets Court's Interim Nod to Use Cash Collateral
-------------------------------------------------------------
Innatech, LLC, sought and obtained authority from the Hon. Thomas
J. Tucker of the U.S. Bankruptcy Court for the Eastern District of
Michigan to use, on an interim basis, the cash collateral securing
their obligation to their prepetition lenders.

The Debtor is a party to an April 2008 Loan and Security Agreement
(the Existing Credit Agreement) with Bridge Healthcare Finance,
LLC.  The Existing Credit Agreement provided for revolving loans
to the Debtor in an amount up to $8,000,000 (the Revolving Loan),
and a term loan in an amount up to $5,500,000 (the Term Loan).
The Existing Credit Agreement terminated on February 28, 2010, and
Bridge ceased virtually all non-payroll related funding of the
Debtor.  As of the Petition Date, the outstanding balance of the
Revolving Loan, including principal and interest, is approximately
$3,561,183, and the outstanding balance of the Term Loan,
including principal and interest, is approximately $2,954,209.

Based upon recent appraisals updated at or near the Petition Date,
and the Debtor's books and records, the Debtor believes that the
value of Bridge's collateral is:

     a. eligible accounts receivable        $3,262,487
     b. raw material inventory              $400,000
     c. finished good inventory             $302,801
     d. machinery and equipment             $6,259,780
              Total                         $10,225,068

The Debtor believes that its sales are constant or increasing and,
with the exception of minor variances in the timing of
collections, the level of the Debtor's post-petition accounts
receivable and inventory will similarly remain stable or increase
in value.  A significant portion of the Debtor's machinery and
equipment was purchased approximately four years ago, has been
very well-maintained, and is adequately insured and otherwise
protected against undue deterioration or depreciation.

The Debtor sought to use up to $1,285,000 of Cash Collateral for
15 days from the Petition Date.  Robert D. Gordon, Esq., at Clark
Hill PLC, the attorney for the Debtor, explained that the Debtor
needs the money to fund its Chapter 11 case, pay suppliers and
other parties.  The Debtor will use the collateral pursuant to a
budget, a copy of which is available for free at:

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

In exchange for using the cash collateral, the Debtors propose to
grant Bridge a replacement lien in the Debtor's post-petition
accounts receivable and inventory.

If no objections to the continued effectiveness of the interim
order or to a final order are filed by April 13, 2010, except that
an Official Committee of Unsecured Creditors may file objections
within 14 days after it is served with a copy of the interim
order, the interim order may become a final order.  If objections
are timely filed and served, a final hearing on the Debtor's
request to use cash collateral will be held on April 14, 2010, at
11:00 a.m.(Eastern Time).

                          About Innatech

Headquartered in Rochester, Michigan, Innatech LLC, dba Dynamic,
manufactures and designs "highly-engineered injection molded
components and assemblies."  Innatech's are sold to Tier I and
Tier II automotive suppliers and to customers in the packaging,
office furniture, appliances, household goods, toys, and personal
care markets.  Innatech employs almost 150 people at three
facilities located in Michigan, Indiana and Ohio.

The Company filed for Chapter 11 bankruptcy protection on
March 23, 2010 (Bankr. E.D. Mich. Case No. 10-49380).  Robert D.
Gordon, Esq., who has an office in Birmingham, Michigan, assists
the Company in its restructuring effort.  The Company estimated
its assets and debts at $10,000,001 to $50,000,000.


INTERVEST BANCSHARES: Defers Payments on Trust Preferred Shares
---------------------------------------------------------------
The Federal Reserve Bank of New York informed Intervest Bancshares
Corporation in Feb. 2010 that it may not, without the prior
approval of the FRB, pay dividends on or redeem its capital stock,
pay interest on or redeem its trust preferred securities, or incur
new debt.

Accordingly, Intervest has deferred the payment of its regular
quarterly cash dividends on its Fixed Rate Cumulative Perpetual
Preferred Stock, Series A, issued to the United States Department
of the Treasury in connection with the Company's participation in
TARP.  Under the terms of the Preferred Stock, the Preferred Stock
is entitled to a quarterly dividend at the rate of 5% per year for
the first five years, after which the dividend rate automatically
increases to 9% per year. Dividends need not be declared and paid,
but the dividend is a cumulative dividend and failure to pay
dividends for six dividend periods would trigger board appointment
rights for the holder of the Preferred Stock.  Because the
Preferred Stock dividend is cumulative, the dividend will continue
to be accrued for payment in the future and reported as a
preferred dividend requirement that is deducted from income
available to common stockholders for financial statement purposes.

The Company has also exercised its right to defer regularly
scheduled interest payments on its $55 million of junior
subordinated notes relating to its outstanding trust preferred
securities.  The Company has the right to defer payments of
interest for up to 20 consecutive quarterly periods without
default or penalty. During the deferral period, the respective
statutory trusts, which are wholly owned subsidiaries of the
Company that were formed to issue the trust preferred securities,
will likewise suspend the declaration and payment of dividends on
the trust preferred securities.  The regularly scheduled interest
payments will continue to be accrued for payment in the future and
reported as an expense for financial statement purposes.

The Company's wholly owned subsidiary, Intervest National Bank,
which has paid cash dividends to the Company to fund the interest
and preferred dividend requirements, has also been informed by it
primary regulator, the Office of the Comptroller of the Currency,
that it will not be permitted to pay any cash dividends to the
Company.  Intervest National Bank has accordingly suspended its
cash dividend payments.

The interest and preferred dividend payments referred to above
will resume at such times both the Company and Intervest National
Bank are permitted to do so and upon the determination that such
payments are consistent with the Company's and Intervest National
Bank's overall financial performance and capital requirements. The
deferral of interest payments and suspension of cash dividend
payments will preserve approximately $0.8 million of capital per
quarter for Intervest National Bank.

This week, Intervest Bancshares Corporation disclosed a
$2.8 million loss for the quarter ending Mar. 31, 2010, citing
the weak economy, high unemployment, increased office and retail
vacancy rates and an increasing supply of distressed properties
for sale in the marketplace at discounted prices, all of which
have significantly reduced commercial and multifamily real estate
values both nationally and in the Company's lending areas, as the
problems.  At Mar. 31, 2010, Intervest Bancshares Corporation's
balance sheet shows $2.3 billion in assets.

Intervest Bancshares Corporation is a holding company.  Its
principal operating subsidiary is Intervest National Bank, a
nationally chartered commercial bank that has its headquarters and
full-service banking office at One Rockefeller Plaza, in New York
City, and a total of six full-service banking offices in
Clearwater and Gulfport, Florida.  Intervest National Bank
maintains capital ratios in excess of the regulatory requirements
to be designated as a well-capitalized institution.  Intervest
Bancshares Corporation's Class A Common Stock is listed on the
NASDAQ Global Select Market: Trading Symbol IBCA.


JEAN JALLIFIER: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Jean Paul Jallifier
        1711 Juniper Hill Rd
        Aspen, CO 81611

Bankruptcy Case No.: 10-17865

Chapter 11 Petition Date: April 6, 2010

Court: United States Bankruptcy Court
       District of Colorado (Denver)

Judge: A. Bruce Campbell

Debtor's Counsel: John D. LaSalle, Esq.
                  715 West Main St.
                  Suite 201
                  Aspen, CO 81611
                  Tel: (970) 925-6633
                  E-mail: lasalle@sopris.net

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 Jean Paul Jallifier.


JOHN MCMAHAN: Case Summary & 10 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: John M. McMahan
          dba World Wide CLassics
        c/o Alan S. Gerger
        Dunn, Neal & Gerger, L.L.P.
        3050 Post Oak Boulevard, Suite 400
        Houston, TX 77056
        Tel: 713-403-7400

Bankruptcy Case No.: 10-32978

Chapter 11 Petition Date: April 6, 2010

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

Judge: Karen K. Brown

Debtor's Counsel: Alan Sanford Gerger, Esq.
                  Dunn Neal et al
                  3050 Post Oak Boulevard, Suite 400
                  Houston, TX 77056
                  Tel: (713) 403-7400
                  Fax: (713) 960-0204
                  E-mail: bkpfilings@dnglegal.com

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

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

A copy of the Debtor's list of 10 largest unsecured creditors is
available for free at http://bankrupt.com/misc/txsb10-32978.pdf

The petition was signed by the Debtor.


KENDALL COUNTY: Case Summary & 3 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Kendall County Development Company, LP
        301 A Blue Heron Blvd
        Boerne, TX 78006

Bankruptcy Case No.: 10-51341

Chapter 11 Petition Date: April 6, 2010

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

Judge: Leif M. Clark

Debtor's Counsel: William B. Kingman, Esq.
                  Law Offices of William B. Kingman, PC
                  4040 Broadway, Suite 450
                  San Antonio, TX 78209
                  Tel: (210) 829-1199
                  Fax: (210) 821-1114
                  E-mail: bkingman@kingmanlaw.com

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

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

The petition was signed by Michael Shalit, manager of general
partner.

Debtor's List of 3 Largest Unsecured Creditors:

  Entity                        Nature of Claim     Claim Amount
  ------                        ---------------     ------------
De Lage Landen Financial        --                  $6,026
Svcs (f/k/a Documation)
c/o J. Hunter Parrish, Esq.
777 Main St., Suite 1920
Fort Worth, TX 76102

H.E. "Skip" Preble              --                  $2,500
131 Antler Hill
Comfort, TX 78013

Ashley Furniture                --                  Unknown


KENNETH GOOD: Plan Position Estopped Secured Claim Objection
------------------------------------------------------------
WestLaw reports that a Chapter 11 debtor which, to obtain
confirmation of its proposed reorganization plan over the
objection of a creditor that, if undersecured as the debtor now
contended to the tune of more than $5 million, would have
dominated the unsecured class and prevented the debtor from
obtaining the consent of that class, had successfully asserted
that the creditor was oversecured and not entitled to vote with
the unsecured creditors, and which had also claimed excess equity
in the property securing the creditor's claim to demonstrate that
its proposed plan was feasible, was judicially estopped, once its
plan had been confirmed, from belatedly objecting to the
creditor's secured claim as insufficiently collateralized by the
property securing it.  The debtor would derive an unfair advantage
over the creditor if the court were to sustain its present
objection to the creditor's secured claim.  In re Good, --- B.R. -
---, 2010 WL 1233552 (Bankr. E.D. Tex.) (Rhoades, J.!
).

Kenneth Marston Good is a real estate developer based in Dallas,
Tex., with interests in real estate properties in Collin and
Denton County, Texas and Tulum, Mexico.  Mr. Good's real estate
interests are held both individually and through its interest in
various corporations and partnerships.  The Debtor filed a chapter
11 petition (Bankr. E.D. Texas Case No. 08-40955) on April 15,
2008.  Frank J. Wright, Esq., at Wright Ginsberg Brusilow PC in
Dallas, Tex., represents the Debtor in its restructuring efforts.
The Debtor's schedules show total assets of $209,273,646 and total
liabilities of $144,293,309.  Three of Mr. Good's affiliates --
Legacy Capital Investments, LLC, LMI LBL, LLC, and KG Legacy
Premier, LLC -- sought chapter 11 protection (Bankr. E.D. Tex.
Case Nos. 08-41449, 08-41452 and 08-41453) on June 3, 2008, and a
fourth affiliate -- KG Legacy Ozarks, LLC -- sought chapter 11
protection (Bankr. E.D. Tex. Case No. 08-41177) on May 5, 2008.

The debtors filed a joint plan of reorganization on Aug. 25, 2008,
proposing to fund that plan by developing and selling the mineral
interests underlying 86 acres of land located in Flower Mound,
Tex.  Four amendments later, the Plan provided that the Debtors
would release secured interests in portions of the 86 acres for
certain prices as buyers were found.  The Honorable Brenda T.
Rhoades confirmed the Debtor's plan on May 21, 2009, and the Plan
was declared effective on June 20, 2009.


KIRK HUDSON: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Joint Debtor: Kirk P. Hudson
              Sally T. Hudson
              1508 Elmwood Ave.
              Wilmette, IL 60091
              Tel: (312) 246-2413

Bankruptcy Case No.: 10-15209

Chapter 11 Petition Date: April 6, 2010

Court: United States Bankruptcy Court
       Northern District of Illinois (Chicago)

Judge: Pamela S. Hollis

Debtor's Counsel: Milton A Tornheim, Esq.
                  555 Skokie Blvd
                  Suite 500
                  Nortbrook, IL 60062
                  Tel: (847) 897-5716
                  Fax: (847) 897-5793
                  E-mail: matornh@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 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/ilnb10-15209.pdf

The petition was signed by Kirk Hudson and Sally Hudson.


KREUNEN DEVELOPMENT: Section 341(a) Meeting Scheduled for May 17
----------------------------------------------------------------
The U.S. Trustee for Region 5 will convene a meeting of Kreunen
Development Company, Inc.'s creditors on May 17, 2010, at 10:30
a.m.  The meeting will be held at Oxford City Hall, Second Floor
Courtroom, 107 South Lamar Street, Oxford, MS 38655.

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

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

Southaven, Mississippi-based Kreunen Development Company, Inc.,
filed for Chapter 11 bankruptcy protection on March 31, 2010
(Bankr. N.D. Miss. Case No. 10-11600).  Craig M. Geno, Esq., at
Harris Jernigan & Geno, PLLC, assists the Company in its
restructuring effort.  The Company estimated its assets and debts
at $10,000,001 to $50,000,000.


L RAMON: Section 341(a) Meeting Scheduled for May 4
---------------------------------------------------
The U.S. Trustee for Region 16 will convene a meeting of L. Ramon
Bonin's creditors on May 4, 2010, at 1:30 p.m.  The meeting will
be held at Room 1-159, 411 W Fourth Street, Santa Ana, CA 92701.

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

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

San Juan Capistrano, California-based L. Ramon Bonin and Patty A.
Bonin filed for Chapter 11 bankruptcy protection on March 31, 2010
(Bankr. C.D. Calif. Case No. 10-14067).  James C. Bastian, Jr.,
Esq., at Shulman Hodges & Bastian LLP, assists the Debtors in
their restructuring efforts.  The Debtors estimated their assets
and debts at $100,000,001 to $500,000,000.


L RAMON: Taps Shulman Hodges as Bankruptcy Counsel
--------------------------------------------------
L. Ramon Bonin and Patty A. Bonin have sought permission from the
U.S. Bankruptcy Court for the Central District of California to
employ Shulman Hodges & Bastian LLP as general counsel.

Shulman Hodges will, among other things:

     -- advise the Debtors regarding matters of bankruptcy law,
        including the rights and remedies of the Debtors
        with respect to their assets and with respect to the
        claims of creditors;

     -- represent the Debtors in any proceedings or hearings in
        the Court related to bankruptcy law issues;

     -- conduct examinations of witnesses, claimants, or adverse
        parties and to prepare and assist in the preparation of
        reports, accounts and pleadings related to the Debtors'
        Chapter 11 case; and

     -- assist the Debtors in the negotiation, preparation and
        confirmation of a plan of reorganization.

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

        Partners                 $400-$495
        Of Counsel               $400-$495
        Associates               $250-$350
        Paralegals               $125-$195

James C. Bastian, Jr., a partner of Shulman Hodges, assures the
Court that the firm is "disinterested" as that term is defined in
Section 101(14) of the Bankruptcy Code.

San Juan Capistrano, California-based L. Ramon Bonin and Patty A.
Bonin filed for Chapter 11 bankruptcy protection on March 31, 2010
(Bankr. C.D. Calif. Case No. 10-14067).  James C. Bastian, Jr.,
Esq., at Shulman Hodges & Bastian LLP, assists the Debtors in
their restructuring efforts.  The Debtors estimated their assets
and debts at $100,000,001 to $500,000,000.


LATHAM INTERNATIONAL: Robert Troisio Appointed as Fee Examiner
--------------------------------------------------------------
The Hon. Christopher S. Sontchi of the U.S. Bankruptcy Court for
the District of Delaware approved the appointment of Robert
Troisio of BTB Associates, LLC, as fee examiner in the Chapter 11
cases of Latham International, Inc., et al.

Mr. Troisio will act as a special consultant to the Court for
professional fee and expense analysis and review.

Latham International filed for Chapter 11 bankruptcy protection on
December 22, 2009 (Bankr. D. Delaware Case No. 09-14490).  The
Company's affiliates -- Latham Manufacturing Corp.; Viking Pools,
LLC; Coverstar, LLC; and Kafko (US) Corp. -- also filed Chapter 11
bankruptcy petition.  Laura Davis Jones, Esq.; Michael Seidl,
Esq.; and Timothy P. Cairns, Esq., at Pachulski Stang Young &
Jones LLP, assist the Debtors in their restructuring efforts.
Latham International listed $50,000,001 to $100,000,000 in assets
and $100,000,001 to $500,000,000 in liabilities.


LEHMAN BROTHERS: Euro Unit to Settle Small Claims of Up to $10,000
------------------------------------------------------------------
Carla Main at Bloomberg News reports that Lehman Brothers
International Europe plans to pay about $1 million out of its
general estate to settle client-money claims of as much as $10,000
each to reduce administrative costs.

According to the Bloomberg report, PricewaterhouseCoopers, the
administrators of the European unit, said it will pay creditors to
close the claims over the next four months.  PwC said it wants to
settle 500 of the 1,500 client-money claims to save administrative
costs.  LBIE was holding $2.1 billion in client-money accounts
from before its collapse.

Bloomberg relates that creditors seeking more than $10,000 won't
be paid until an appeal is heard in a London court in June.  The
investment bank, two of its affiliates and CRC Credit Fund Ltd.
are appealing a ruling from December that jeopardizes the ability
of some clients to claim money that should have been ring-fenced.

                       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)


LENNOX INTERNATIONAL: Moody's Reviews 'Ba1' Corp. Family Rating
---------------------------------------------------------------
Moody's Investors Service has placed Lennox International Inc.'s
ratings on review for possible upgrade: Corporate Family and
Probability of Default at Ba1.  The review is prompted by the
company's continued strong credit metrics throughout the economic
downturn and the prospect for improved performance as the economic
recovery provides new revenue growth.  Lennox has historically
generated strong free cash flow and has applied it towards
strengthening its balance sheet.  Credit metrics have also
benefited from limited share repurchases and lack of acquisition
activity.

The review will focus on the company's ability to further improve
its credit metrics while expanding its business.  The review will
also consider the company's ongoing cash flow management including
its dividend and share buyback policies and the role that
acquisitions will play in future growth.

These ratings have been placed on review for possible upgrade:

  -- Corporate family rating, Ba1;

  -- Probability of default rating, Ba1;

  -- Universal shelf (various securities), assigned
     Ba1(P)/Ba2(P)/Ba2(P).

Moody's last rating action on Lennox was January 27, 2009, when a
Ba1(P)/Ba2(P)/Ba2(P) unsecured, subordinated, and preferred shelf
ratings were assigned.  At the same time, Moody's affirmed the
company's Ba1 corporate family rating and the stable rating
outlook.

Headquartered in Richardson, Texas, Lennox International Inc. is a
leading global provider of climate control solutions.  Revenue for
the year ended December 31, 2009, was approximately $2.9 billion.


LEXICON UNITED: Delays Filing of Annual Report on Form 10-K
-----------------------------------------------------------
Lexicon United, Inc., has failed to file its annual report on Form
10-K for the year ended December 31, 2009, by the March 31
deadline.  Lexicon United said it was unable to file its Form 10-K
within the prescribed time period without unreasonable effort or
expense due to the complexity of certain of its foreign
operations.  Lexicon United anticipates that it will file its Form
10-K within the grace period provided by Exchange Act Rule 12b-25.

As reported by the Troubled Company Reporter on December 8, 2009,
Lexicon United reported a net loss of $181,732 for the three
months ended September 30, 2009, from a net loss of $209,423 for
the year ago period.  Lexicon United posted a net loss of $530,841
for the nine months ended September 30, 2009, from a net loss of
$623,469 for the year ago period.

At September 30, 2009, the Company had total assets of $3,081,219
against total liabilities of $4,487,900.  At September 30, 2009,
the Company had accumulated deficit of $3,437,978 and total
deficit of $1,406,681.  The Company also had negative working
capital of $3,582,385 at September 30, 2009.

The Company said management's plans include raising adequate
capital through the equity markets to fund future operations and
generating of revenue through its businesses.  Failure to raise
adequate capital and generate adequate sales revenues could result
in the Company having to curtail or cease operations.

"Additionally, even if the Company does raise sufficient capital
to support its operating expenses and generate adequate revenues,
there can be no assurances that the revenue will be sufficient to
enable it to develop business to a level where it will generate
profits and cash flows from operations.  These matters raise
substantial doubt about the Company's ability to continue as a
going concern," the Company said.

                       About Lexicon United

Based in Austin, Texas, Lexicon United Incorporated (OTC
BB:LXUN.OB) -- http://www.atncapital.com.br/-- is a financial
services holding company specializing in collections and credit
recovery.  ATN, a subsidiary of the Company, is engaged in the
business of managing and servicing accounts receivables for large
financial institutions in Brazil and acquiring portfolios of debt
assets for its own account.  Revenues are primarily derived from
collections related to distressed debt assets.


LIFECARE HOLDINGS: Swings to $2.962 Million Net Income for 2009
---------------------------------------------------------------
LifeCare Holdings, Inc., swung to net income of $2.962 million
for the year ended December 31, 2009, from net losses of
$21.070 million for 2008 and $60.782 million for 2007.  LifeCare
said net patient service revenue was $360.311 million for 2009
from $351.971 million for 2008 and $322.215 million for 2007.

At December 31, 2009, the Company had total assets of
$479.646 million against total liabilities of $496.925 million,
resulting in stockholder's deficit of $17.279 million.  At
December 31, 2008, stockholders' deficit was $20.549 million.

At December 31, 2009, the Company's outstanding indebtedness
consisted of $119.3 million aggregate principal amount of its
9-1/4% senior subordinated notes due 2013, a $244.2 million term
loan facility that matures in 2012, and $35.0 million outstanding
on its revolving credit facility which matures in 2011.  At
December 31, 2009, the interest rate applicable to the
$244.2 million under the term loan facility was 4.54%, and the
weighted average rate on the $35.0 million outstanding balance of
the revolving credit facility was 4.28%.

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?5fca

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

LifeCare Holdings, Inc. -- http://www.lifecare-hospitals.com/--
based in Plano, Texas, operates 19 long-term acute care hospitals
located in nine states. Long-term acute care hospitals specialize
in the treatment of medically complex patients who typically
require extended hospitalization.


LIQUIDATION OUTLET: Gets Interim Okay to Use Cash Collateral
------------------------------------------------------------
Liquidation Outlet, Inc., sought and obtained authorization from
the Hon. Paul B. Snyder of the U.S. Bankruptcy Court for the
Western District of Washington to use, on an interim basis, the
cash collateral of U.S. Bank National Association.

Brian L. Budsberg, Esq., at Brian L. Budsberg, P.L.L.C., the
attorney for the Debtor, explained that the Debtor needs the money
to fund its Chapter 11 case, pay suppliers and other parties.  The
Debtor will use the collateral pursuant to a budget, a copy of
which is available for free at:

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

In exchange for using the cash collateral, the Debtor proposes to
grant U.S. Bank liens and security interests upon all property of
the estate that is of the same or similar types as was subject to
perfected and valid security interests in existence as of the
Petition Date.

Existing Cash Collateral and post-petition receipts constituting
cash collateral will be deposited in a segregated debtor-in-
possession cash collateral account to be established at U.S. Bank.
The Debtor is authorized to draw upon or transfer funds from the
cash collateral accounts to a debtor-in-possession general
operating account maintained at U.S. Bank for use.

ABC-Pacific Corporation, as trustee for a joint venture composed
of ABC-Pacific Corporation, Louis Arrigoni and Evelyn Arrigoni,
Palace Investment Company and Harold Z. Ross, has objected to the
Debtor's request to use cash collateral.

ABC is the landlord and the Debtor is the tenant with respect to a
lease of nonresidential real property in the Northpark Shopping
Center in Seattle, Washington (the Northpark Lease).  The Debtor
has failed to pay rent under the Northpark Lease since November
2009.  The Northpark Lease has expired by its term, but the Debtor
continues to occupy the premises on a month-to-month basis.

On February 23, 2010, ABC provided written notice to the Debtor of
ABC's intent to terminate the Northpark Lease effective March 31,
2010.  It doesn't appear the Debtor intends to vacate the premises
by March 31, 2010, ABC says.

ABC objects to the Debtor's use of cash collateral unless ABC's
post-petition monthly rent is included in the cash collateral
budget and timely paid.

ABC cannot determine whether the Debtor intends to pay its post-
petition rent under the Northpark Lease.  While the budget
attached to the proposed order provides for total April rent
payments of approximately $418,000, it is not clear which specific
landlords this amount covers.  Timely payment of post-petition
rent should be a condition of the Debtor's use of cash collateral,
ABC states.  To the extent the Debtor is proposing something
different, ABC objects.

ABC requests that the Court condition use of cash collateral on
the Debtor's timely payment of post-petition rent to ABC
commencing April 1, 2010.

ABC is represented by Ryan, Swanson & Cleveland, PLLC.

                     About Liquidation Outlet

Lakewood, Washington-based Liquidation Outlet, Inc., filed for
Chapter 11 bankruptcy protection on March 25, 2010 (Bankr. W.D.
Wash. Case No. 10-42279).  Benjamin J. Riley, Esq., at Brian L
Budsberg PLLC, assists the Company in its restructuring effort.
According to the schedules, the Company has assets of $16,053,250,
and total debts of $7,434,413.


LOWER BUCKS: Has Access to BoNY Cash Collateral Until July 2
------------------------------------------------------------
The Hon. Eric L. Frank of the U.S. Bankruptcy Court for the
Eastern District of Pennsylvania, in a third interim order,
authorized Lower Bucks Hospital, et al., to use the cash securing
repayment of loan with The Bank of New York Mellon Trust Company,
N.A., until July 2, 2010, or the occurrence of a termination
event.

The Bank of New York Mellon Trust Company, N.A., is the trustee
for the Borough of Langhorne Manor Higher Education and Health
Authority Hospital Revenue Bonds, Series of 1992.

A final hearing on the Debtors' access to the cash collateral will
be held on June 30, 2010, at 11:00 a.m.  Objections, if any, are
due on June 28, 2010.

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

As of the petition date, the aggregate amount of prepetition
indebtedness is $24,870,000, exclusive of any interest and other
amounts that may be due and owing.

In exchange for using the cash collateral, the Debtors will grant
the prepetition lenders (i) a replacement lien in unrestricted
gross revenues received by the Lower Buck Hospital subsequent to
the Petition Date; (ii) a lien on and security interest in LBH's
real estate, subject to that certain lien of the Township of
Bristol in the principal amount of $133,000; and (iv) a
superpriority claim.  The liens and superpriority expense claims
are subject to carve out covering fees payable to the U.S. Trustee
and the Clerk of the Bankruptcy Court, and unpaid professional
fees, among others.

The Debtors are represented by:

     Jeffrey C. Hampton, Esq.
     Adam H. Isenberg, Esq.
     Saul Ewing LLP
     Centre Square West
     1500 Market Street, 38th Floor
     Philadelphia, PA 19102

                   About Lower Bucks Hospital

Bristol, Pennsylvania-based Lower Bucks Hospital is a nonprofit
hospital based in Bristol, Pennsylvania.  The Hospital is
currently licensed to operate 183 beds.  Together with affiliates
Advanced Primary Care Physicians and Lower Bucks Health
Enterprises, Inc., Lower Bucks owns a 36-acre campus with several
medical facilities.  The Hospital's emergency room serves
approximately 30,000 patients annually.  For the fiscal year
ending June 30, 2009, Lower Bucks had $114 million in consolidated
revenues.

The Hospital filed for Chapter 11 bankruptcy protection on
January 13, 2010 (Bankr. E.D. Pa. Case No. 10-10239).  The
Hospital's affiliates -- Lower Bucks Health Enterprises, Inc, and
Advanced Primary Care Physicians also filed Chapter 11 petitions.
Jeffrey C. Hampton, Esq., and Adam H. Isenberg, at Saul Ewing LLP,
assist the Hospital in its restructuring effort.  Donlin, Recano &
Company, Inc., is the Hospital's claims and notice agent.  The
Hospital listed $50,000,001 to $100,000,000 in assets and
$50,000,001 to $100,000,000 in liabilities.


MARKET DEVELOPMENT: Section 341(a) Meeting Scheduled for May 10
---------------------------------------------------------------
The U.S. Trustee for Region 10 will convene a meeting of Market
Development Specialists, Inc.'s creditors on May 10, 2010, at 2:30
p.m.  The meeting will be held at One Michiana Square, 5th Floor,
100 East Wayne Street, South Bend, IN 46601.

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

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

Elkhart, Indiana-based Market Development Specialists, Inc. -- dba
RetroBytes and Wintergreen Systems -- filed for Chapter 11
bankruptcy protection on April 1, 2010 (Bankr. N.D. Ind. Case No.
10-31487).  John S. Hosinski, Esq., who has an office in South
Bend, Indiana, assists the Company in its restructuring effort.
The Company listed $17,401,356 in assets and $25,137,362 in
liabilities.


MECHANICAL TECHNOLOGY: Reports Net Loss for 3rd Consecutive Year
----------------------------------------------------------------
Mechanical Technology, Incorporated, reported a net loss for the
third consecutive year.  Net loss attributed to MTI was $3,099,000
for the year ended December 31, 2009, from net losses of
$12,504,000 for 2008 and $9,575,000 for 2007.  Total revenue was
$8,306,000 for 2009 compared to $7,378,000 for 2008 and
$10,584,000 for 2007.

At December 31, 2009, the Company had total assets of $5,511,000
against $3,985,000 in total liabilities.  At December 31, 2009,
total equity was $1,526.  At December 31, 2008, total equity was
$2,022,000.

In its March 31, 2010 report, PricewaterhouseCoopers in Albany,
New York, said there is substantial doubt about the Company's
ability to continue as a going concern.  It noted that the Company
has suffered recurring losses from operations and has an
accumulated deficit.

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?5fcc

Mechanical Technology, Incorporated, operates in two segments, the
New Energy segment which is conducted through MTI MicroFuel Cells
Inc., a majority-owned subsidiary, and the Test and Measurement
Instrumentation segment, which is conducted through MTI
Instruments, Inc., a wholly owned subsidiary.

MTI Micro is developing Mobion(R), a handheld energy-generating
device to replace current lithium-ion and similar rechargeable
battery systems in many handheld electronic devices for the
military and consumer markets.  As of December 31, 2009, the
Company owned approximately 61.81% of MTI Micro's outstanding
common stock.

MTI Instruments is a worldwide supplier of precision non-contact
physical measurement solutions, condition based monitoring
systems, portable balance equipment and wafer inspection tools.


MERIDIAN RESOURCE: Delays 10-K; Expects $73-Mil. 2009 Net Loss
--------------------------------------------------------------
The Meridian Resource Corporation filed a Notification of Late
Filing on Form 12b-25 with respect to the Company's Annual Report
on Form 10-K for the year ended December 31, 2009.  Meridian
Resource pointed out that on December 22, 2009, Alta Mesa
Holdings, LP, Alta Mesa Acquisition Sub LLC and the Company
entered into an Agreement and Plan of Merger providing for the
acquisition of the Company by Alta Mesa.  The Merger was expected
to be consummated on March 30, 2010, in advance of the due date of
the Form 10-K, following a meeting of the Company's shareholders
that was called to vote on the Merger.  The shareholder meeting,
however, has been postponed until after the due date of the Form
10-K.  Because the efforts of the Company's management have been
focused on the closing of the Merger and the other transactions
contemplated by the Merger Agreement, the Company is unable,
without unreasonable effort and expense, to file the Form 10-K on
a timely basis.  The Company expects that the Form 10-K will be
filed no later than the 15th calendar day following the due date.

The Company anticipates that its results of operations for 2009
will reflect a net loss of approximately $73 million, as opposed
to a net loss of approximately $210 million in 2008.  The
reduction in net loss was due primarily to a reduction in
impairment expense from approximately $224 million in 2008 to
approximately $63 million in 2009, partly offset by decreased
revenue of approximately $89 million in 2009 compared to
approximately $149 million in 2008.

                   About Meridian Resource

Based in Houston, Texas, The Meridian Resource Corporation
(NYSE:TMR) -- http://www.tmrc.com/-- is an independent oil and
natural gas company engaged in the exploration, exploitation,
acquisition and development of oil and natural gas in Louisiana,
Texas, and the Gulf of Mexico.  Meridian has access to an
extensive inventory of seismic data and, among independent
producers, is a leader in using 3-D seismic and other technologies
to analyze prospects, define risk, target and complete high-
potential wells for exploration and development. Meridian has a
field office in Weeks Island, Louisiana.

At September 30, 2009, the Company had $190,339,000 in total
assets, including $18,090,000 in total current assets, against
$120,634,000 in total current liabilities and $17,736,000 in asset
retirement obligations.

The Company noted that its default under the debt agreements,
which has been mitigated in the short term by certain forbearance
agreements, negatively impacts future cash flow and the Company's
access to credit or other forms of capital.  There is substantial
doubt as to the Company's ability to continue as a going concern
for a period longer than the next 12 months, the Company said.
It added that it might have to seek protection under federal
bankruptcy laws if it is unable to comply with the forbearance
agreements or if those agreements expire.


MERIDIAN RESOURCE: Hires Counsel for Possible Bankruptcy Filing
---------------------------------------------------------------
Meridian Resource Corporation has hired bankruptcy counsel to
prepare for a possible bankruptcy filing in the event its planned
merger with Alta Mesa Holdings, LP is not consummated.  Meridian
said its lenders have agreed in principle to extend the date by
which shareholder approval of the merger must be received under
the forbearance agreement to a date after April 28, 2010.  The
Company anticipates that the extension will be formally documented
in the next few days.

If the forbearance agreement terminates because of the failure to
receive shareholder approval or for any other reason, the lenders
could then take action to enforce their rights, including
foreclosing on substantially all of Meridian's assets.  Therefore,
if the merger is not completed, Meridian may be forced to
liquidate or to otherwise seek protection under federal bankruptcy
laws, and there is no assurance that in a bankruptcy proceeding
the Meridian shareholders would receive any value for their
shares.

Meridian on April 6, 2010, adjourned its special meeting of
shareholders regarding the adoption of the definitive merger
agreement with Alta Mesa.  Following the adjournment, Meridian's
Board of Directors approved an amendment to the merger agreement
whereby Alta Mesa has agreed to increase its offer price for the
outstanding common stock of Meridian to $0.33 per share from $0.29
per share in cash, a 14% increase over its prior offer price and a
23% premium over the closing price of Meridian stock on April 7,
2010.  The merger agreement was not amended in any other respect.

Accordingly, a special meeting of shareholders will be reconvened
on April 28, 2010, at 3:00 p.m. Central Time in the auditorium in
Fulbright Tower, 1301 McKinney, Houston, Texas.  The record date
for shareholders entitled to vote at the meeting remains February
8, 2010.  Only holders of record of our common stock on that date
are entitled to vote at the reconvened special meeting.

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

                   About Meridian Resource

Based in Houston, Texas, The Meridian Resource Corporation
(NYSE:TMR) -- http://www.tmrc.com/-- is an independent oil and
natural gas company engaged in the exploration, exploitation,
acquisition and development of oil and natural gas in Louisiana,
Texas, and the Gulf of Mexico.  Meridian has access to an
extensive inventory of seismic data and, among independent
producers, is a leader in using 3-D seismic and other technologies
to analyze prospects, define risk, target and complete high-
potential wells for exploration and development.  Meridian has a
field office in Weeks Island, Louisiana.

At September 30, 2009, the Company had $190,339,000 in total
assets, including $18,090,000 in total current assets, against
$120,634,000 in total current liabilities and $17,736,000 in asset
retirement obligations.

The Company noted that its default under the debt agreements,
which has been mitigated in the short term by certain forbearance
agreements, negatively impacts future cash flow and the Company's
access to credit or other forms of capital.  There is substantial
doubt as to the Company's ability to continue as a going concern
for a period longer than the next 12 months, the Company said.
It added that it might have to seek protection under federal
bankruptcy laws if it is unable to comply with the forbearance
agreements or if those agreements expire.


METALS USA: S&P Raises Rating to 'B-'; Retains Positive Watch
-------------------------------------------------------------
Standard & Poor's Ratings Services raised its ratings on Houston-
based Metals USA Holdings and its wholly owned subsidiary, Metals
USA Inc., to 'B-' from 'CCC+'.  In addition, the ratings remain on
CreditWatch with positive implications.  S&P originally placed the
ratings on CreditWatch with positive implications on April 7,
2010, based on S&P's assessment that the company's near-term
operating performance is improving.

"The ratings upgrade reflects S&P's assessment that near-term
operating performance is improving due to increased end market
demand, resulting in higher pricing and volumes," said Standard &
Poor's credit analyst Maurice Austin.  As a result, of the
expected improvement in operating performance, S&P expects the
company's credit measures to strengthen to a level more consistent
with a higher rating.  Specifically, adjusted debt to EBITDA below
5x.

In addition to the expected operating improvement, the recent
completion of its IPO, with proceeds expected to be utilized to
repurchase the maximum principle amount of its 2007 outstanding
payment-in-kind toggle notes, will likely result in a further
improvement to the company's capital structure and credit measures
in the near term.

In resolving the CreditWatch listing, Standard & Poor's expects to
meet with management and review its near and intermediate term
financial and operating strategies, its overall liquidity position
and assess the sustainability of the company's operating
performance.


MICHAEL MARIX: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: Michael Stockton Marix
        aka Michael S. Marix
        47304 Abdel Circle
        Palm Desert, CA 92260

Bankruptcy Case No.: 10-20172

Chapter 11 Petition Date: April 6, 2010

Court: United States Bankruptcy Court
       Central District of California (Riverside)

Debtor's Counsel: James E. Till, Esq.
                  840 Newport Center Dr Ste 750
                  Newport Beach, CA 92660
                  Tel: (949) 999-2862
                  Fax: (949) 945-3438
                  E-mail: jtill@thelobelfirm.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 Michael Stockton Marix.


MIDWEST BANC: Annual Stockholders Meeting Slated for May 26
-----------------------------------------------------------
The 2010 annual meeting of stockholders of Midwest Banc Holdings,
Inc., will be held on May 26, 2010, at 9:00 a.m., central time, at
Dominican University Priory Campus, 7200 West Division Street, in
River Forest, Illinois.

At the meeting, shareholders will be asked to:

     1. To elect seven directors to serve on the board of
        directors until the annual meeting in 2011;

     2. To ratify the appointment of PricewaterhouseCoopers LLP to
        serve as its independent registered public accounting firm
        for the year ending December 31, 2010;

     3. To approve, in an advisory (non-binding) vote, the
        compensation of the executive officers; and

     4. To transact other business that may properly come before
        the annual meeting and any adjournments thereof, including
        whether to adjourn the meeting.

Stockholders at the close of business on March 30, 2010, are
entitled to vote at the annual meeting.

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

                   About Midwest Banc Holdings

Based in Melrose Park, Illinois, Midwest Banc Holdings, Inc.
(NASDAQ:MBHI) is a half century old community bank with
$3.5 billion in assets at September 30, 2009.  The Company has two
principal operating subsidiaries: Midwest Bank and Trust Company
and Midwest Financial and Investment Services, Inc.  Midwest Bank
has 26 locations serving the diverse needs of both urban and
suburban Chicagoland businesses and consumers through its
Commercial Banking, Wealth Management, Corporate Trust and Retail
Banking areas.

The Company has $3.43 billion in total assets and $3.37 billion in
total liabilities resulting to a $50.0 million stockholders'
equity, as of December 31, 2009.

                           *     *     *

On March 29, 2010, as a result of the Bank's significantly
undercapitalized status, the Bank consented to the issuance of a
Prompt Corrective Action Directive by the Federal Reserve Bank.
The PCA provides that the Bank, in conjunction with the Company,
must within 45 days of March 29, 2010 -- by May 13, 2010 --
either: (i) increase the Bank's capital so that it becomes
adequately capitalized; (ii) enter into and close on an agreement
to sell the Bank subject to regulatory approval and customary
closing conditions; or (iii) take other necessary measures to make
the Bank adequately capitalized.  Any failure by the Company to
improve the Bank's regulatory capital ratios in a timely manner
will result in material adverse consequences, including the
possibility that the Company may become subject to a voluntary or
involuntary bankruptcy filing, the Bank could be placed into FDIC
receivership by its regulators, or the Bank could be acquired by a
third party in a transaction in which the Company receives no
value for its interest in the Bank, any of which events would be
expected to result in a loss of all or a substantial portion of
the value of the Company's outstanding securities.

As reported by the Troubled Company Reporter on October 30, 2009,
the Company entered into a Forbearance Agreement with its lender.
The forbearance period was to expire March 31, 2010.

In its March 30, 2010 report, PricewaterhouseCoopers LLP in
Chicago, Illinois, said there is substantial doubt about the
Company's ability to continue as a going concern.


MIDWAY GAMES: Has Until May 14 to Propose Plan of Liquidation
-------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware extended
Midway Games Inc., et al.'s exclusive periods to propose a Chapter
11 Plan of Liquidation and to solicit acceptances of that Plan
until May 14, 2010, and July 13, 2010, respectively.

Headquartered in Chicago, Illinois, Midway Games Inc. (OTC Pink
Sheets: MWYGQ) -- http://www.midway.com/-- was a leading
developer and publisher of interactive entertainment software for
major videogame systems and personal computers.

The Company and nine of its affiliates filed for Chapter 11
protection on February 12, 2009 (Bankr. D. Del. Lead Case No.
09-10465).  Michael D. DeBaecke, Esq., Jason W. Staib, Esq, and
Victoria A. Guilfoyle, Esq., at Blank Rome LLP, in Wilmington,
Delaware; and Marc E. Richards, Esq., and Pamela E. Flaherty,
Esq., at Blank Rome LLP, in New York, represent the Debtors in
their restructuring efforts.  Attorneys at Milbank, Tweed, Hadley
& McCloy LLP and Richards, Layton & Finger, P.A. represent the
official committee of unsecured creditors as counsel.  Epiq
Bankruptcy Solutions, LLC, is the Debtors' claims, noticing, and
balloting agent.

On July 10, 2009, Midway and certain of its U.S. subsidiaries
completed the sale of substantially all of their assets to
Warner Bros. Entertainment Inc. in a sale approved by the Court.
The aggregate gross purchase price is roughly $49 million,
including the assumption of certain liabilities.  Midway is
disposing of its remaining assets.

At June 30, 2009, the Debtors had $1.39 billion in total assets
and $1.59 billion in total liabilities.


MTD INVESTMENTS: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: MTD Investments
        302 Becker Drive
        Roanoke Rapids, NC 27870

Bankruptcy Case No.: 10-02711

Chapter 11 Petition Date: April 6, 2010

Court: United States Bankruptcy Court
       Eastern District of North Carolina (Wilson)

Judge: J. Rich Leonard

Debtor's Counsel: Michael P. Peavey, Esq.
                  P.O. Box 1115
                  Wilson, NC 27894-1115
                  Tel: (252) 291-8020
                  Fax: (252) 291-8309
                  E-mail: mpeavey@peaveylaw.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 filed
together with petition is available for free at
http://bankrupt.com/misc/nceb10-02711.pdf

The petition was signed by Michael T. Davies, president.

Debtor-affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Michael T. Davis and Debra W. Davis    09-10198    11/23/09


NATIONAL COAL: To Sell New River Assets to Pay Off Defaulted Loan
-----------------------------------------------------------------
National Coal Corp. has entered into an agreement to sell a
portion of its assets located on the New River Tract in Eastern
Tennessee for $10 million to Ranger Energy Investments, LLC, a
company controlled by Jim Justice.  The purchase price is payable
in cash and the assumption by Ranger Energy of approximately $6.0
million of accounts payable the Company owes to an affiliate of
Ranger Energy.  Ranger Energy also has agreed to lease a portion
of the Company's coal reserves also located on the New River Tract
and to purchase the Company's coal inventory located at the
Baldwin Preparation Plant.

In addition to receipt of the purchase price for the assets, the
Company also will receive from Ranger Energy the return of
approximately $1.9 million in cash that was previously pledged to
secure reclamation bonds and other liabilities associated with the
New River Tract operation, and payment for coal inventories on the
property at closing - which are expected to be minimal.  Also, the
Company will receive from other vendors approximately $0.2 million
in cash that was previously pledged to secure services.  Proceeds
from the sale will be used to repay the $4.5 million balance due
under the Company's $5.0 million short-term revolving credit
facility, which currently is in default.  Any remaining proceeds
will be used to repay financing obligations for certain of the
assets being sold and for other general corporate purposes.

The consummation of the sale is conditioned upon Ranger Energy's
purchase from Centaurus Energy Master Fund, LP of $30.3 million of
the Company's 10.5% senior secured notes due 2010 and the
Company's $5 million short-term revolving credit facility, among
other customary closing conditions.  The transaction is expected
to close before the end of April 2010.

Daniel A. Roling, President and CEO at National Coal Corp.,
explains that the sale begins to address the Company's short-term
liquidity needs.  "With this transaction, we will be able to cure
the default under our short-term revolving credit facility by
paying off and terminating the facility.  The transaction also
will allow us to pay approximately $6.0 million in accounts
payable to our vendors, including an affiliate of Ranger Energy,
most of whom extended us additional credit during the first
quarter of 2010 after we experienced a reduction in cash flow
following the suspension of coal purchases by our largest customer
due to a force majeure event."

"We will to continue to focus on ways to reduce our expenses and
our outstanding debt, as this transaction does not completely
solve all of our short-term liquidity issues.  We also are
continuing to pursue strategic transactions that will allow us to
repay our $42 million in public debt, which matures in December
2010," continued Mr. Roling.

The assets being sold include the Baldwin preparation plant, the
active underground mine number 5A, and the idled surface mine
number 3, along with the associated permits and certain
liabilities.  In addition, a coal contract associated with the
facilities may be assigned to the buyer.  Also included in the
transaction are the coal mineral rights on approximately 22,000
acres which will be leased to Ranger Energy for a royalty of 6% to
8% of applicable revenues.

Following this transaction, the Company's continuing operations in
Tennessee will include the coal mineral and mining rights to
approximately 57,000 acres of land, along with mining complexes
that include one active underground mine and one active surface
mine.  In addition, National Coal will continue to own and operate
one preparation plant and one unit train loading facility served
by the Norfolk Southern Railroad.

At December 31, 2009, the Company reported cash and cash
equivalents of approximately $1.2 million and negative working
capital of approximately $54.8 million.  Included in working
capital at December 31, 2009 is $45.0 million of principal amount
of secured indebtedness that matures on December 15, 2010.

                      About National Coal

Headquartered in Knoxville, Tenn., National Coal Corp., through
its wholly owned subsidiary, National Coal Corporation, is engaged
in coal mining in East Tennessee. Currently, National Coal employs
about 220 people. National Coal sells steam coal to electric
utilities and industrial companies in the Southeastern United
States. For more information and to sign-up for instant news
alerts visit http://www.nationalcoal.com.


NEFATITI ANDERSON: Voluntary Chapter 11 Case Summary
----------------------------------------------------
Joint Debtors: Nefatiti Anderson
               Richard A. Anderson
               18 Barley Sheaf Road
               Flemington, NJ 08822
               Tel: 908-884-6317

Bankruptcy Case No.: 10-20284

Chapter 11 Petition Date: April 6, 2010

Court: U.S. Bankruptcy Court
       District of New Jersey (Trenton)

Judge: Raymond T. Lyons Jr.

Debtor's Counsel: Leressa Crockett, Esq.
                  Leressa Crockett Attorney at Law, LLC
                  76 South Orange Plaza #103
                  South Orange, NJ 07079
                  Tel: (973) 378-8882
                  Fax: (973) 378-8955
                  E-mail: Crockettlegal@gmail.com

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

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.


NEXTMEDIA GROUP: Court Confirms Plan of Reorganization
------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware confirmed
NextMedia Group, Inc., et al.'s amended Plan of Reorganization.

According to the disclosure statement, the plan contemplates a
restructuring and reorganization of the Debtors.  The principal
terms of the Plan are:

   i) holders of the first lien debt and holders of the general
      unsecured claims will be paid in full;

  ii) holders of the second lien debt will receive 95% of the
      common equity in Reorganized NM Group, subject to dilution;

iii) second lien investors will receive 66.67% of the common
      equity in Reorganized NM Group in exchange for a $55 million
      equity investment, subject to dilution;

  iv) holders of equity interest in NM investors will receive 5%
      of the common equity in Reorganized NM Group, subject to
      dilution;

   v) NM investors will be dissolved and cease to exist as a legal
      entity.

The restructuring will be financed through the equity investment,
new debt financing of $127.5 million, cash on hand and any other
additional financing that may be necessary.

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

                          NextMedia Group

Greenwood Village, Colorado-based NextMedia Group, Inc., provides
out-of-home media services through radio broadcasting and outdoor
advertising.  The Debtors operate an aggregate of 36 AM and FM
radio stations in a total of seven rated and unrated small, mid-
size and suburban markets, including the Greenville-New Bern-
Jacksonville, North Carolina area; the Saginaw-Bay City-Midland,
Michigan area; Canton, Ohio; Myrtle Beach, South Carolina; San
Jose, California; suburban Chicago; and suburban Dallas.

NextMedia Group filed for Chapter 11 bankruptcy protection on
December 21, 2009 (Bankr. D. Delaware Case No. 09-14463).  The
Debtor's affiliates, NextMedia Investors LLC, et al., also filed
Chapter 11 bankruptcy petitions.  Paul N. Heath, Esq.; Michael J.
Merchant, Esq.; and Chun I. Jang, Esq., at Richards Layton &
Finger, assist the Debtors in their restructuring efforts.
NextMedia Group listed $50,000,001 to $100,000,000 in assets and
$100,000,001 to $500,000,000 in liabilities.


NFR ENERGY: Moody's Assigns 'Caa1' Rating on $150 Mil. Notes
------------------------------------------------------------
Moody's Investors Service assigned a Caa1 rating to NFR Energy
LLC's offering of $150 million senior notes due 2017.  Moody's
also affirmed NFR's B3 Corporate Family Rating and the Caa1 rating
on its existing $200 million senior notes due 2017.  The proceeds
from the notes issuance will be used to repay revolver borrowings
and fund a $52 million acreage acquisition.  The rating outlook is
stable.

"This additional bond offering improves NFR's liquidity by
increasing the available borrowing capacity on its revolving
credit facility," commented Pete Speer, Moody's Vice President.
"However, the acreage acquisition meaningfully increases the
company's leverage metrics since it adds no production or proved
developed reserves."

NFR just announced an agreement to acquire additional undeveloped
acreage in its core East Texas property base for approximately
$52 million.  This transaction significantly increases the
company's leverage as measured on production and proved developed
reserves, but these metrics still compare favorably to most B3-
rated peers and remain consistent with the B3 CFR.  NFR plans to
continue its rapid production growth, which will require
significant additional borrowings over the coming years.  In order
for the company to maintain leverage metrics at levels consistent
with its ratings, the production response from capital investment
will need to meet the company's forecasts.

The B3 CFR reflects NFR being at an early stage in its
development, with production and proved developed reserves volumes
that are smaller than most B3-rated peers, and limited geographic
diversification.  The company's total proved reserves at year end
are estimated to be approximately 1,002 Bcfe using the new SEC
rules, which indicates the potential of its acreage.  However, the
very high proportion of proved undeveloped reserves will require
an estimated $1.3 billion of additional capital investment to
bring those reserves to production.

NFR has hedged a high proportion of its forecasted 2010 and 2011
production at prices meaningfully above current spot prices, which
supports its cash flows to partially fund its capital
expenditures.  Following the notes offering and the acreage
acquisition the company expects to have approximately $145 million
of availability under its senior secured revolving credit
facility, which should provide sufficient borrowing capacity to
fund its planned 2010 capital expenditures while maintaining
adequate liquidity over the remainder of this year.

The Caa1 senior unsecured notes rating reflects both the overall
probability of default of NFR, to which Moody's assigns a PDR of
B3, and a loss given default of LGD 5 (71% changed from 78%).
Following the notes issuance the company expects to have a
$227.5 million borrowing base under its $400 million senior
secured revolving credit facility.  The senior secured credit
facility will have a priority claim to substantially all of the
company's assets and therefore the senior unsecured notes are
notched one rating beneath the B3 CFR under Moody's Loss Given
Default Methodology.

The last rating action on NFR was on February 1, 2010, when
Moody's assigned the B3 CFR and Caa1 rating to its initial senior
notes offering.

NFR Energy LLC is a privately held independent exploration and
production company based in Houston, Texas.  The company is
jointly owned by subsidiaries of Nabors Industries Ltd. and
private equity funds advised by First Reserve Corporation.


NFR ENERGY: S&P Affirms 'B' Rating on Senior Unsecured Notes
------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its issue-level rating
on NFR Energy LLC (B/Stable/--) and NFR Energy Finance Corp.'s
senior unsecured note.  The affirmation followed the announcement
that the company increased its $200 million 9.75% senior notes due
2017 to $350 million through a $150 million add-on offering.  S&P
affirmed its 'B' issue-level rating (the same as the corporate
credit rating on NFR Energy LLC) on the $350 million senior
unsecured notes.  The recovery rating is unchanged at '4',
indicating expectations of average (30% to 50%) recovery in a
payment default.

The company will issue the notes pursuant to Rule 144A with
registration rights and will use proceeds to repay existing debt;
to fund a portion of its capital budget, including potential
acquisitions of natural gas and oil properties for the year ending
Dec. 31, 2010; and to provide working capital for general
corporate purposes.

The ratings on NFR Energy LLC reflect the inherent volatility of
the oil and natural gas industry; its small size and scope of
operations; operations that are highly concentrated in natural
gas; expected negative free cash flow generation over the near
term; and geographic concentration of its asset base.

                           Ratings List

                          NFR Energy LLC

         Corporate Credit Rating             B/Stable/--

                         Ratings Affirmed

              NFR Energy LLC/NFR Energy Finance Corp.

                         Senior Unsecured

               $350 mil. due 2017                B
                  Recovery Rating                4


NORTEL NETWORKS: Disabled Workers Will Ask to Void Settlement
-------------------------------------------------------------
Carla Main at Bloomberg News reports that a group of about 40
disabled workers will ask an Ontario appeals court to void a
C$57 million ($57 million) settlement with Nortel Networks Corp.
that extends benefits to them and other former employees until the
end of the year.  Employees who earned C$50,000 a year before
becoming disabled might be left to live on C$13,700 a year
starting in 2011.

Joel Rochon, of Rochon Genova LLP, who represents the disabled
workers' group opposed to the settlement, said April 9 in a phone
interview with Bloomberg News that he will file a request for a
hearing before the appeals court.

Bloomberg News recounts that Ontario Superior Court Judge Geoffrey
Morawetz approved the settlement on March 31 after Nortel removed
a provision that allowed pensioners and disabled employees to seek
higher standing among creditors if Canadian bankruptcy rules
changed.  The judge, who rejected a proposal that included that
provision on March 26, said it was unfair to other creditors.

According to Bloomberg, Canada's opposition parties have
introduced proposals to change bankruptcy law so that former
employees of companies that seek court protection don't lose
pensions and disability benefits.

                      About Nortel Networks

Nortel Networks (OTCBB:NRTLQ) -- http://www.nortel.com/--
delivers communications capabilities that make the promise of
Business Made Simple a reality for the Company's customers.  The
Company's next-generation technologies, for both service provider
and enterprise networks, support multimedia and business-critical
applications.  Nortel's technologies are designed to help
eliminate the barriers to efficiency, speed and performance by
simplifying networks and connecting people to the information they
need, when they need it.

Nortel Networks Corp., Nortel Networks Inc., and other affiliated
corporations in Canada sought insolvency protection under the
Companies' Creditors Arrangement Act in the Ontario Superior Court
of Justice (Commercial List).  Ernst & Young was appointed to
serve as monitor and foreign representative of the Canadian Nortel
Group.

The Monitor sought recognition of the CCAA Proceedings in the U.S.
by filing a bankruptcy petition under Chapter 15 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 09-10164).  Mary Caloway,
Esq., and Peter James Duhig, Esq., at Buchanan Ingersoll & Rooney
PC, in Wilmington, Delaware, serves as the Chapter 15 petitioner's
counsel.

Nortel Networks Inc. and 14 affiliates filed separate Chapter 11
petitions on January 14, 2009 (Bankr. D. Del. Case No. 09-10138).
Judge Kevin Gross presides over the case.  James L. Bromley, Esq.,
at Cleary Gottlieb Steen & Hamilton, LLP, in New York, serves as
general bankruptcy counsel; Derek C. Abbott, Esq., at Morris
Nichols Arsht & Tunnell LLP, in Wilmington, serves as Delaware
counsel.  The Chapter 11 Debtors' other professionals are Lazard
Freres & Co. LLC as financial advisors; and Epiq Bankruptcy
Solutions LLC as claims and notice agent.

Certain of Nortel's European subsidiaries also made consequential
filings for creditor protection.  The Nortel Companies related in
a press release that Nortel Networks UK Limited and certain
subsidiaries of the Nortel group incorporated in the EMEA region
have each obtained an administration order from the English High
Court of Justice under the Insolvency Act 1986.  The applications
were made by the EMEA Subsidiaries under the provisions of the
European Union's Council Regulation (EC) No. 1346/2000 on
Insolvency Proceedings and on the basis that each EMEA
Subsidiary's centre of main interests is in England.  Under the
terms of the orders, representatives of Ernst & Young LLP have
been appointed as administrators of each of the EMEA Companies and
will continue to manage the EMEA Companies and operate their
businesses under the jurisdiction of the English Court and in
accordance with the applicable provisions of the Insolvency Act.

Several entities, particularly, Nortel Government Solutions
Incorporated have material operations and are not part of the
bankruptcy proceedings.

As of September 30, 2008, Nortel Networks Corp. reported
consolidated assets of US$11.6 billion and consolidated
liabilities of US$11.8 billion.  The Nortel Companies' U.S.
businesses are primarily conducted through Nortel Networks Inc.,
which is the parent of majority of the U.S. Nortel Companies.  As
of September 30, 2008, NNI had assets of about US$9 billion and
liabilities of US$3.2 billion, which do not include NNI's
guarantee of some or all of the Nortel Companies' about
US$4.2 billion of unsecured public debt.

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


NUVEEN INVESTMENTS: Posts Net Loss for Second Straight Year
-----------------------------------------------------------
Nuveen Investments, Inc., posted a net loss for the second
straight year.  Net loss attributable to Nuveen Investments was
$101,354,000 for the year ended December 31, 2009, from a net loss
of $1,765,474,000.  Total operating revenues were $662,759,000 for
2009 from $740,791,000 for 2008.

At December 31, 2009, the Company had total assets of
$6,654,203,000 against total liabilities of $5,685,143,000,
resulting in total equity of $969,060,000.

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?5fd0

On April 1, 2009, Moody's Investors Service lowered Nuveen's
corporate family rating to Caa1, the rating for its senior secured
credit facilities to B3, and the rating for its senior unsecured
notes to Caa3.  In addition, on April 1, 2009, Standard and Poor's
Ratings Services lowered the Company's local currency long-term
counterparty credit rating to B-.  While the ratings downgrades
have not affected the Company's financial condition, results of
operations or liquidity, the Company said they could make it more
difficult to obtain financing in the future.  In the event that
the Company is unable to repay any of its outstanding indebtedness
as it becomes due, the Company said it might need to explore
alternative strategies for funding, such as selling assets,
refinancing or restructuring its indebtedness or selling equity
capital.  However, securing alternative sources of funding might
not be feasible which could result in further adverse effects on
the Company's financial condition.

Founded in 1898, Nuveen Investments, Inc., based in Chicago,
Illinois, provides investment management services to high-net-
worth and institutional investors and the financial consultants
and advisors who serve them.  The Company derives substantially
all of its revenues from providing investment advisory services
and distributing managed account products, closed-end exchange-
traded funds and open-end mutual funds.


OAKWOOD FOOD: Case Summary & 2 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Oakwood Food Properties, LLC
        P.O. Box 1559
        Gainesville, GA 30503-1559

Bankruptcy Case No.: 10-21607

Chapter 11 Petition Date: April 6, 2010

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

Judge: Robert Brizendine

Debtor's Counsel: Charles N. Kelley, Jr., Esq.
                  Cummings & Kelley PC
                  P.O. Box 2758
                  Gainesville, GA 30501-2758
                  Tel: (770) 531-0007
                  Fax: (678) 866-2360
                  E-mail: ckelley@cummingskelley.com

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

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

A list of the Company's 2 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/ganb10-21607.pdf

The petition was signed by William P. Carter, manager.


ORANGE GROVE: Section 341(a) Meeting Scheduled for May 10
---------------------------------------------------------
The U.S. Trustee for Region 16 will convene a meeting of Orange
Grove Service, Inc.'s creditors on May 10, 2010, at 10:00 a.m.
The meeting will be held at Room 2610, 725 S Figueroa Street, Los
Angeles, CA 90017.

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

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

La Verne, California-based Orange Grove Service, Inc., filed for
Chapter 11 bankruptcy protection on March 25, 2010 (Bankr. C.D.
Calif. Case No. 10-21336).  Ori S. Blumenfeld, Esq., at Wilson &
Associates LLP, assists the Company in its restructuring effort.
The Company estimated its assets and debts at $10,000,001 to
$50,000,000.


ORANGE GROVE: Wants to Hire Wilson & Associates as Bankr. Counsel
-----------------------------------------------------------------
Orange Grove Service, Inc., has asked for authorization from the
U.S. Bankruptcy Court for the Central District of California to
employ Ori S. Blumenfeld and the law firm of Wilson & Associates
LLP as bankruptcy counsel.

Wilson & Associates will:

     (a) give Debtor legal advice with respect to its powers and
         duties as debtor-in-possession in the continued operation
         of its business and management of its property;

     (b) prepare on behalf of Debtor necessary applications,
         answers, orders, reports and other legal papers;

     (c) perform all other legal services for Debtor as which may
         be necessary, and as necessary for Debtor as Debtor in
         possession to employ an attorney for professional
         services.

Wilson & Associates will be paid based on the hourly rates of its
personnel:

         Senior Partners                     $350.00
         Junior Partners, Of Counsel         $300.00
         Associates                          $250.00
         Paralegals                          $125.00

Ori S. Blumenfeld, a junior partner at Wilson & Associates,
assures the Court that the firm is "disinterested" as that term is
defined in Section 101(14) of the Bankruptcy Code.

La Verne, California-based Orange Grove Service, Inc., filed for
Chapter 11 bankruptcy protection on March 25, 2010 (Bankr. C.D.
Calif. Case No. 10-21336).  Ori S. Blumenfeld, Esq., at Wilson &
Associates LLP, assists the Company in its restructuring effort.
The Company estimated its assets and debts at $10,000,001 to
$50,000,000.


OSI RESTAURANT: Dec. 31 Balance Sheet Upside-Down by $126.8-Mil.
----------------------------------------------------------------
OSI Restaurant Partners, LLC, filed its annual report on Form 10-K
for the year ended December 31, 2009.

The Company's balance sheet showed $2.585 billion in assets and
$2.712 billion of debts, for a stockholders' deficit of
$126.8 million.

The Company reported a net loss of $54.4 million on $3.601 billion
of revenue for 2009, compared with a net loss of $742.4 million on
$3.963 billion of revenue for 2008.  Restaurant sales decreased by
9.3% or $365.7 million in 2009 as compared with 2008.  The
decrease in restaurant sales was primarily attributable to
decreases in sales volume at existing restaurants and the closing
of 34 restaurants and was partially offset by additional revenues
of roughly $17.5 million from the opening of 12 new restaurants in
2009.

Other revenues, consisting primarily of initial franchise fees,
royalties and sublease revenue, increased by $4.7 million as
compared with $23.4 million in 2008.  This increase was primarily
attributable to increased development and franchise royalties from
Outback Steakhouse International and the one Carrabba's Italian
Grill franchise and an increase in sublease revenue and was
partially offset by a decline in domestic royalties.

During 2009, the Company incurred goodwill impairment charges of
$11.1 million and intangible asset impairment charges of
$43.7 million, the majority of which were recorded during the
second quarter of 2009, and restaurant and other impairment
charges of $94.5 million.  During 2008, the Company incurred
goodwill impairment charges of $604.1 million, intangible asset
impairment charges of $46.4 million and restaurant impairment
charges of $65.8 million.

Earnings before interest, taxes, depreciation and amortization
was $203.7 million for 2009, compared with an EBITDA loss of
$504.5 million for 2008.  Adjusted EBITDA, a measure the Company
is required to report to its lenders, calculated by adjusting
EBITDA to exclude certain stock-based compensation expenses,
non-cash expenses and significant non-recurring items, was
$305.2 million for 2009, compared with $302.6 million at 2008.

At December 31, 2009 and 2008, the Company's Moody's Applicable
Corporate Rating was Caa1, and its Standard & Poor's corporate
credit rating was B-.

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

                 http://researcharchives.com/t/s?5fd5

A full-text copy of the supplemental information regarding the
Company's results for the year ended December 31, 2009, is
available at no charge at http://researcharchives.com/t/s?5fd6

Tampa, Fla.-based OSI Restaurant Partners, LLC, is one of the
largest casual dining restaurant companies in the world, with five
restaurant concepts, more than 1,475 system-wide restaurants and
2009 revenues exceeding $3.6 billion.  The Company operates in 49
states and in 23 countries internationally, predominantly through
Company-owned restaurants, but its also operates under a variety
of partnerships and franchises.  The Company's concepts concepts
are Outback Steakhouse, Carrabba's Italian Grill, Bonefish Grill,
Fleming's Prime Steakhouse and Wine Bar and Roy's.  The Company's
long-range plan is to exit its Roy's concept, but it has not
established a timeframe to do so.


PACIFIC ETHANOL: Socius Returns 1,183,738 Shares
------------------------------------------------
Pacific Ethanol, Inc., disclosed that on April 5, 2010, Socius CG
II, Ltd., returned 1,183,738 of shares the Company issued to it on
March 24, 2010.

On March 23, 2010, the Superior Court of the State of California
for the County of Los Angeles entered an Order Approving
Stipulation for Settlement of Claim in the matter entitled Socius
CG II, Ltd. v. Pacific Ethanol, Inc.  The Order provides for the
full and final settlement of Socius' $5,000,000 claim against
Pacific Ethanol.  Socius purchased the Claim from Lyles United,
LLC, a creditor of the Company, pursuant to the terms of a
Purchase Agreement dated effective as of March 15, 2010 between
Socius and Lyles United.  The Claim consists of the right to
receive $5,000,000 of principal amount of and under a loan made by
Lyles United to the Company pursuant to the terms of an Amended
and Restated Promissory Note dated November 7, 2008 in the
original principal amount of $30,000,000.

Pursuant to the terms of the Order, on March 24, 2010, the Company
issued and delivered to Socius 5,800,000 shares of its common
stock -- Settlement Shares -- subject to adjustment as set forth
in the Order.

As a result, in full satisfaction of the Claim (excluding any
legal fees and expenses incurred by Socius in connection with the
settlement of the Claim, which fees and expenses will be paid by
the Company in connection with the settlement of future claims)
the Company issued to Socius a total of 4,616,262 shares of its
common stock.

                      About Pacific Ethanol

Pacific Ethanol Holding Co. LLC and four affiliates filed for
Chapter 11 on May 17, 2009 (Bankr. D. Del. Case No. 09-11713).
Judge Kevin Gross handles the case.  Attorneys at Cooley Godward
Kronish LLP represent the Debtors as counsel.  Attorneys at Potter
Anderson & Corroon LLP are co-counsel.  Epiq Bankruptcy Solutions
LLC is the claims agent.  Pacific Ethanol Holding disclosed
$50 million to $100 million in assets and $100 million to
$500 million in debts in its petition.

Pacific Ethanol Inc. and its marketing subsidiaries, Kinergy
Marketing LLC, and Pacific Ag. Products, LLC, have not filed for
Chapter 11 bankruptcy protection.  The Company is expected to
continue to manage the Plant Subsidiaries under an Asset
Management Agreement and Kinergy and PAP are expected to continue
to market and sell the Plant Subsidiaries' ethanol and feed
production under existing Marketing Agreements.


PALM INC: Taps Goldman and Qatalyst Partners to Find Buyer
----------------------------------------------------------
Serena Saitto and Ari Levy at Bloomberg News report that Palm
Inc., is seeking bids for the company as early as this week,
according to three people familiar with the situation.  Sources
told Bloomberg that Palm is working with Goldman Sachs Group Inc.
and Frank Quattrone's Qatalyst Partners to find a buyer, said the
people.  The sources said Taiwan's HTC Corp. and China's Lenovo
Group Ltd. have looked at Palm and may make offers.  According to
Bloomberg, the sources declined to be identified because a sale
hasn't been announced.

Bloomberg says two of the people familiar with the matter have
indicated that Dell Inc. looked at Palm, though it decided against
an offer.  Bloomberg says Jess Blackburn, a spokesman for Dell,
didn't respond to a call for comment.

Elevation Partners LP owns about 30% of Palm.

Bloomberg relates that Lynn Fox, a Palm spokeswoman, declined to
comment, as did Goldman's Andrea Rachman.  Qatalyst's Sally Palmer
didn't immediately respond to requests for comment.  Chen Hui-
Ming, the chief financial officer of HTC, declined to confirm or
deny the company's interest in Palm.

Bloomberg also notes that Wong Wai Ming, Lenovo's chief financial
officer, also declined to comment on the company's acquisition
plans.  Bloomberg recalls that in January, Lenovo paid $200
million to purchase Lenovo Mobile Communication Technology Ltd.,
letting it re-enter the market for handsets.  Lenovo had sold the
mobile-phone unit in 2008 to focus on personal computers.

Bloomberg further relates that Huawei Technologies Co. and ZTE
Corp., China's two biggest makers of phone equipment, may also bid
for Palm, said Lu Chia-lin, a technology analyst at Macquarie
Group Ltd. in Taipei.

According to Bloomberg, Berenberg Bank analysts including Adnaan
Ahmad wrote in a March 25 report that Palm may burn $80 million
every three months for the next five quarters as competition in
the smartphone market intensifies.  Palm held $592 million in cash
and short-term investments at the end of its fiscal third-
quarter, according to the report, Bloomberg says.

The Troubled Company Reporter on March 23, 2010, said Palm's
financial woes may present a takeover opportunity for its rivals.
Paul R. La Monica at CNNMoney.com said Palm's market value has
sunk to under $1 billion and it is possible that a suitor might
finally think the price is right.  According to Mr. La Monica,
analysts said there's still some value in Palm, even if you look
beyond its slumping hardware sales.  The company's patents and
mobile operating system webOS could make it an attractive fit for
a rival.

The TCR also reported that Mr. La Monica said Dell and Hewlett-
Packard have been mentioned as potential acquirers, since neither
of them has a significant presence in the mobile device world.
Nokia, Microsoft, Apple and Google have been cited as possible
buyers, according to CNNMoney.com.

                        About Palm Inc.

Sunnyvale, California-based Palm, Inc. (NASDAQ: PALM) creates
intuitive and powerful mobile experiences that enable consumers
and businesses to connect to their information in more useful and
usable ways.  Palm products are sold through select Internet,
retail, reseller and wireless operator channels, and at the Palm
online store at http://www.palm.com/store

                          *     *     *

As reported by the Troubled Company Reporter on March 5, 2010,
Standard & Poor's Ratings Services affirmed its 'CCC+' corporate
credit rating and other ratings on Palm Inc. and revised the
ratings outlook to negative from positive.  "The action reflects
the company's announcement that revenues in the February 2010
quarter and fiscal year ending May 2010 will be well below earlier
expectations," said Standard & Poor's credit analyst Bruce Hyman.


PHILADELPHIA NEWSPAPERS: Creditors' Request for Rehearing Denied
----------------------------------------------------------------
Carla Main at Bloomberg News reports that Philadelphia Newspapers
LLC's creditors lost their bid for a rehearing over a court order
denying lenders the right to bid their claims instead of cash.
The senior secured lenders had sought a rehearing on an appellate
court ruling upholding a decision that bankruptcy law doesn't
entitle secured creditors to bid what they are owed at a public
auction.

The U.S. Court of Appeals denied a request by lenders to halt the
auction for Philadelphia Newspapers LLC's assets.  An auction is
now scheduled for April 27.  The secured lenders wanted the
auction put off pending further review by the Court of Appeals or
the Supreme Court with respect to the Court of Appeals' ruling
that barred lenders from submitting a credit bid at the auction.

As reported by the TCR on March 23, the United States Court of
Appeals for the Third Circuit, in a 96-page opinion, has allowed
Philadelphia Newspapers LLC to pursue a sale process that would
bar credit bidding by secured lenders.

A copy of the Third Circuit Ruling is available for free at
http://bankrupt.com/misc/PhillyPapers_AppealsCourt_Ruling.pdf

                        The Chapter 11 Plan

Philadelphia Newspapers has already obtained approval of the
disclosure statement explaining the Plan and is now soliciting
votes on the Plan.

The Plan is based upon a sale of all of the Debtors' business to
Bruce E. Toll-led Philly Papers LLC, subject to higher and better
offers.  According to the disclosure statement explaining the
Plan, with the sale of the Debtors' business to Bruce Toll,
holders of secured claims, including $66 million, senior secured
claims, will recover 100 cents on the dollar.  Holders of
$350 million prepetition unsecured debt claims will recover less
than 1% of their claims.  Holders of prepetition unsecured trade
claims will recover up to 6%.  The Plan allocates $750,000
liquidating trust in favor of general unsecured trade creditors
and a 3% distribution of equity interests in Philly Papers to
holders of unsecured prepetition claims other than general trade
creditors.

A copy of the Debtors' Disclosure Statement is available for free
at http://bankrupt.com/misc/PhillyNews_DiscStatement.pdf

A copy of the Debtors' Insider Chapter 11 Plan is available for
free at http://bankrupt.com/misc/PhillyNews_Ch11Plan.pdf

                   About Philadelphia Newspapers

Philadelphia Newspapers -- http://www.philly.com/-- owns and
operates numerous print and online publications in the
Philadelphia market, including the Philadelphia Inquirer, the
Philadelphia Daily News, several community newspapers, the
region's number one local Web site, philly.com, and a number of
related online products. The Company's flagship publications are
the Inquirer, the third oldest newspaper in the country and the
winner of numerous Pulitzer Prizes and other journalistic
recognitions, and the Daily News.

Philadelphia Newspapers and its debtor-affiliates filed for
Chapter 11 bankruptcy protection on February 22, 2008 (Bankr. E.D.
Pa. Case No. 09-11204).  Mark K. Thomas, Esq., and Paul V.
Possinger, Esq., at Proskauer Rose LLP in Chicago, Illinois; and
Lawrence G. McMichael, Esq., Christie Callahan Comerford, Esq.,
and Anne M. Aaronson, Esq., at Dilworth Paxson LLP, in
Philadelphia, Pennsylvania, serve as bankruptcy counsel.  The
Debtors' financial advisor is Jefferies & Company Inc.  The Garden
City Group, Inc., serves as claims and notice agent.

Ben Logan, Esq., at O'Melveny & Myers LLP in Los Angeles,
California; and Gary Schildhorn, Esq., at Eckert Seamans Cherin &
Mellott, LLC in Philadelphia, represent the Official Committee of
Unsecured Creditors.  Fred S. Hodara, Esq., Abid Qureshi, Esq.,
and Alexis Freeman, Esq., at Akin Gump Strauss Hauer & Feld LLP in
New York, represent the Steering Group of Prepetition Secured
Lenders.

Philadelphia Newspapers listed assets and debts of $100 million to
$500 million in its bankruptcy petition.


PREFERRED PROPERTIES: Sec. 341(a) Meeting Scheduled for April 30
----------------------------------------------------------------
The U.S. Trustee for Region 17 will convene a meeting of Preferred
Properties, LLC's creditors on April 30, 2010, at 1:30 p.m.  The
meeting will be held at the U.S. Trustee Office, 501 "I" Street,
Suite 7-500, Sacramento, CA 95814.

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

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

Sutter Creek, California-based Preferred Properties, LLC, filed
for Chapter 11 bankruptcy protection on March 25, 2010 (Bankr.
E.D. Calif. Case No. 10-27515).  David Foyil, Esq., who has an
office in Sutter Creek, California, assists the Company in its
restructuring effort.  According to the schedules, the Company has
assets of $15,466,797, and total debts of $7,344,481.


RICHARD FUSCONE: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: Richard Fuscone
        14 Cowdray Drive
        Armonk, NY 10504

Bankruptcy Case No.: 10-22675

Chapter 11 Petition Date: April 6, 2010

Court: United States Bankruptcy Court
       Southern District of New York (White Plains)

Judge: Robert D. Drain

Debtor's Counsel: Lawrence F. Morrison, Esq.
                  Meister Seelig & Fein, LLP
                  140 East 45th Street
                  19th Floor
                  New York, NY 10017
                  Tel: (212) 655-3582
                  Fax: (646) 539-3682
                  E-mail: morrlaw@aol.com

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

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

The petition was signed by Richard Fuscone.

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


RJ YORK SSG: Federal Judge Dismisses Unit's Bankruptcy Case
-----------------------------------------------------------
Rick Desloge at Business Journal at St. Louis reports that a
federal bankruptcy judge dismissed RJ York Park Place LLC's
bankruptcy case, paving a foreclosure proceeding on the Company's
14-unit Clayton Park Place sought by Frontenac Bank and Heartland
Bank in March.  A foreclosure sale is set for April 21, 2010, at
the St. Louis County Government Center.

Mr. Desloge notes the Company owes $1 million loan to Frontenac
Bank and $7.8 million loan to Heartland Bank.

St. Louis, Missouri-based RJ York SSG, LLC, is a property
developer.  The Company filed for Chapter 11 bankruptcy protection
on February 2, 2010 (Bankr. E.D. Mo. Case No. 10-40876).  David L.
Going, Esq., and Susan K. Ehlers, Esq., at Armstrong, Teasdale et
al., assist the Company in its restructuring effort.  The Company
listed $10,000,001 to $50,000,000 in assets and $10,000,001 to
$50,000,000 in liabilities.


ROTHSTEIN ROSENFELDT: Business Partner Anthony Bova Files Ch. 7
---------------------------------------------------------------
Jacqueline Palank at Dow Jones' Daily Bankruptcy Review, citing
the South Florida Business Journal, reports that Anthony Bova
filed Chapter 7 bankruptcy petitions for himself and wife Laurie
as well as for the Bova Cucina and Bova Ristorante in Boca Raton,
Fla.  The report says Mr. Bova co-owned the restaurants with Scott
Rothstein, who's currently awaiting sentencing after pleading
guilty to running a $1 billion-plus Ponzi scheme from his now-
bankrupt law firm.

The report says Messrs. Bova and Rothstein each held 50% ownership
stakes in the restaurants, which were among the Rothstein-owned
businesses that the U.S. Department of Justice had previously won
a protective order over in its bid to preserve the assets.  The
report says the Chapter 7 filing follows a foreclosure lawsuit
that HSBC Bank USA brought against the Bovas in March with regard
to their Boca Raton home.  The report relates Messrs. Bova and
Rothstein teamed up in July 2008 with plans to open new
restaurants, including a cigar bar and lounge that didn't
materialize.

According to the report, in the restaurants' bankruptcy petitions,
they reported together more than $12 million in debt and less than
$240,000 in assets.  The report adds that the Bovas reported
$8.7 million in debt and assets of $2.1 million (including $1,200
in framed art, several luxury watches, a 2004 Land Rover and a
2006 BMW).

Scott Rothstein, co-founder of law firm Rothstein Rosenfeldt Adler
PA, has been suspected of running a $1.2 billion Ponzi scheme.
U.S. authorities claimed in a civil forfeiture lawsuit filed
November 9, 2009, that Mr. Rothstein, the firm's former chief
executive officer, sold investments in non-existent legal
settlements.  Mr. Rothstein pleaded guilty to five counts of
conspiracy and wire fraud on January 27, 2010.

Creditors of Rothstein Rosenfeldt Adler signed a petition sending
the Florida law firm to bankruptcy (Bankr. S.D. Fla. Case No.
09-34791).  The petitioners include Bonnie Barnett, who says she
lost $500,000 in legal settlement investments; Aran Development,
Inc., which said it lost $345,000 in investments; and trade
creditor Universal Legal, identified as a recruitment firm, which
said it is owed $7,800.  The creditors alleged being owed money
invested in lawsuit settlements.

Herbert M. Stettin, the state-court appointed receiver for
Rothstein Rosenfeldt, was officially carried over as the
Chapter 11 trustee in the involuntary bankruptcy case.


SAPPHIRE NATIONAL: Textron Wants Chapter 11 Case Dismissed
----------------------------------------------------------
Textron Financial Corporation has asked the U.S. Bankruptcy Court
for the Western District of North Carolina to dismiss or suspend
Sapphire National, LLC's involuntary Chapter 11 bankruptcy case.

According to Textron, the involuntary bankruptcy case wasn't filed
in good faith, because: (a) this case was filed on the eve of a
state court hearing on Textron's motion to appoint a receiver; (b)
the "creditors" who filed this case are attorneys and accountants
who represent the Debtor and acted in concert with the Debtor to
manufacture an "involuntary" bankruptcy case in an effort to avoid
the full recourse obligations owing by certain guarantors of the
Debtor's debts that are triggered in the event of a voluntary
bankruptcy case; and (c) the continuance of this involuntary
bankruptcy case is causing irreparable harm to Textron, as the
Debtor continues to collect and misappropriate rent and revenues
without any license to do so.

Textron states, "This involuntary bankruptcy case was not filed to
preserve assets for creditors, but is an orchestrated attempt to
keep the Debtor's equity holders in possession of the Debtor's
assets so that the Debtor and its selected petitioning creditors
can continue their misappropriation of the rents and revenues that
rightfully belong to Textron."

Textron wants the Debtor's Chapter 11 case dismissed or suspended
to permit the receivership action to continue so that a receiver
can be appointed to maintain and preserve the Debtor's property.

Textron is represented by William O. L. Hutchinson, Esq.
(whutchinson@kslaw.com) at King & Spalding LLP, and Mark M.
Maloney and John F. Isbell, who have offices in Atlanta, Georgia.

Sapphire, North Carolina-based Sapphire National, LLC -- aka
Sapphire National Golf Club and Sapphire National Golf Course --
owns and operates the golf course known as Sapphire National Gold
Club.

Todd L. Nelson; Peter A. Paul, PC; and Hansen & Associates
commenced on March 23, 2010, an involuntary petition for relief
under Chapter 11 of the U.S. Bankruptcy Code against the Company
(Bankr. W.D. N.C. Case No. 10-20080).  D. Rodney Kight, Jr., Esq.,
at Kight Law Office is the petitioners' counsel.  The Debtor
hasn't appointed any counsel.

Mr. Nelson claims that he is owed $6,221 in legal fees reimbursal.
Peter A. Paul claims that it is owed $20,221 in attorney's fees.
Hansen & Associates claims that it is owed $5,450 for its
services.


SECURITY FINANCE: Voluntary Chapter 11 Case Summary
---------------------------------------------------
Debtor: Security Finance Corporation
        734 W Main St
        Mesa, AZ 85201

Bankruptcy Case No.: 10-09870

Chapter 11 Petition Date: April 6, 2010

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

Judge: Randolph J. Haines

Debtor's Counsel: Dean M. Dinner, Esq.
                  Nussbaum & Gillis, P.C.
                  14500 N. Northsight Blvd., Suite 116
                  Scottsdale, AZ85260
                  Tel: (480) 609-0011
                  Fax: (480) 609-0016
                  E-mail: ddinner@nussbaumgillis.com

Estimated Assets: $0 to $50,000

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 Terry Waldersen, president.


SENSATA TECHNOLOGIES: To Redeem 11.25% Notes and 8% Notes
---------------------------------------------------------
Sensata Technologies B.V., a wholly owned subsidiary of Sensata
Technologies Holding N.V., on April 1, 2010, announced that it has
elected to issue a notice of redemption with respect to (i) all of
its outstanding 11.25% Senior Subordinated Notes due 2014 at a
redemption price equal to 105.625% of the principal amount
thereof, which amount is equal to EUR1,056.25 per EUR1,000
principal amount and (ii) $138,550,000 in aggregate principal
amount of its outstanding 8% Senior Notes due 2014 at a redemption
price equal to 104.000% of the principal amount thereof, which
amount is equal to $1,040.00 per $1,000 principal amount.  The
redemption dates for both the 11.25% Notes and the Dollar Notes
will be May 1, 2010.  In each case, holders of the Notes subject
to redemption will also receive accrued and unpaid interest up to,
but not including, the redemption date.

Sensata will redeem all outstanding 11.25% Notes and redeem the
Dollar Notes on a pro rata basis.  A Notice of Redemption, which
more fully describes the terms and conditions of redemption or
conversion, will be sent to all holders of Notes to be redeemed.


On March 26, 2010, Sensata announced the expiration and final
results of its cash tender offer to purchase the maximum aggregate
principal amount of its outstanding 8% Senior Notes due 2014 --
Dollar Notes -- its 9% Senior Subordinated Notes due 2016 -- 9%
Notes -- and its 11.25% Senior Subordinated Notes due 2014 --
11.25% Notes -- that it can purchase for $350,000,000 at a
purchase price per $1,000 principal amount with respect to the
Dollar Notes and EUR1,000 principal amount with respect to the
Euro Notes, determined in accordance with a modified Dutch auction
procedure on the terms and conditions set forth in the Offer to
Purchase, dated February 26, 2010, as amended.  The Tender Offer
expired at 11:59 P.M., New York City time, on March 25, 2010.

Sensata has accepted for purchase all of the Notes validly
tendered (and not validly withdrawn) in the Tender Offer.  The
aggregate principal amounts of the Dollar Notes, 9% Notes and
11.25% Notes validly tendered (and not validly withdrawn) pursuant
to the Tender Offer were $275,000, EUR200,000 and EUR71,700,000,
respectively (or approximately $95.8 million in the aggregate
using an exchange rate of $1.3291 = EUR1.00).  The Clearing
Premium (as defined in the Offer to Purchase) is $10.00 per $1,000
principal amount of Dollar Notes tendered and EUR10.00 per
EUR1,000 principal amount of each series of Euro Notes tendered.
The total consideration payable per $1,000 principal amount of
Dollar Notes and EUR1,000 principal amount of each series of Euro
Notes is listed.

     Series of Notes                         Total Consideration
     ---------------                         -------------------
     8% Senior Notes due 2014                      $1,000.00
     9% Senior Subordinated Notes due 2016         EUR975.00
     11.25% Senior Subordinated Notes due 2014   EUR1,056.25

Holders will also receive all accrued and unpaid interest
calculated from the last interest payment date up to, but not
including, the Settlement Date, which was expected to be March 29,
2010.

Sensata intends to use approximately $350 million of the net
proceeds from the recently completed initial public offering of
its ultimate parent company to reduce its indebtedness.  As a
result, Sensata is continuing to evaluate its alternatives with
respect to the Notes in light of the principal amount of the Notes
that were tendered into the Tender Offer.

                           About Sensata

Almelo, Netherlands-based Sensata Technologies B.V. --
http://www.sensata.com/-- supplies sensing, electrical
protection, control and power management solutions.  Majority-
owned by affiliates of Bain Capital Partners, LLC, a leading
global private investment firm, and its co-investors, Sensata
employs approximately 9,500 people in nine countries.  Sensata's
products improve safety, efficiency and comfort for millions of
people every day in automotive, appliance, aircraft, industrial,
military, heavy vehicle, heating, air-conditioning, data,
telecommunications, recreational vehicle and marine applications.

As of December 31, 2009, the Company had total assets of
$3,163,127,000 against total liabilities of $2,776,380,000,
resulting in shareholder's equity of $386,747,000.

As reported by the TCR on December 7, 2009, Moody's Investors
Service has upgraded Sensata Technologies B.V.'s Corporate Family
and Probability of Default ratings to Caa1 from Caa2, as well as
the company's senior secured credit facility to B2, senior
unsecured notes to Caa2, and senior subordinated notes to Caa3.
In a related rating action, Moody's affirmed the Company's
Speculative Grade Liquidity rating at SGL-3.  The outlook is
positive.

The TCR on Nov. 4, 2009, said that Standard & Poor's affirmed the
ratings on Attleboro, Massachusetts-based Sensata Technologies,
Inc., including the 'CCC+' corporate credit rating.  At the same
time, S&P revised the outlook on the company to stable from
negative.


SENSATA TECHNOLOGIES: OKs Cash Discretionary Bonuses to 6 Execs
---------------------------------------------------------------
The Compensation Committee of the Board of Directors of Sensata
Technologies Holding N.V. on March 30, 2010, unanimously approved
grants of cash discretionary bonuses to certain Named Executive
Officers.  The cash bonuses are:

     -- Thomas Wroe in the amount of $750,000,
     -- Jeffrey Cote in the amount of $400,000,
     -- Martha Sullivan in the amount of $375,000,
     -- Steve Major in the amount of $175,000,
     -- Richard Dane in the amount of $125,000, and
     -- Martin Carter in the amount of $50,000.

The bonuses were made in recognition of outstanding performance
during 2009, which included preservation of the Company's capital
position, sustained customer relationships during a severe
economic downturn and preparation for the Initial Public Offering
of the Company's parent, Sensata Technologies Holding N.V. in
early 2010.

                           About Sensata

Almelo, Netherlands-based Sensata Technologies B.V. --
http://www.sensata.com/-- supplies sensing, electrical
protection, control and power management solutions.  Majority-
owned by affiliates of Bain Capital Partners, LLC, a leading
global private investment firm, and its co-investors, Sensata
employs approximately 9,500 people in nine countries.  Sensata's
products improve safety, efficiency and comfort for millions of
people every day in automotive, appliance, aircraft, industrial,
military, heavy vehicle, heating, air-conditioning, data,
telecommunications, recreational vehicle and marine applications.

As of December 31, 2009, the Company had total assets of
$3,163,127,000 against total liabilities of $2,776,380,000,
resulting in shareholder's equity of $386,747,000.

As reported by the TCR on December 7, 2009, Moody's Investors
Service has upgraded Sensata Technologies B.V.'s Corporate Family
and Probability of Default ratings to Caa1 from Caa2, as well as
the company's senior secured credit facility to B2, senior
unsecured notes to Caa2, and senior subordinated notes to Caa3.
In a related rating action, Moody's affirmed the Company's
Speculative Grade Liquidity rating at SGL-3.  The outlook is
positive.

The TCR on Nov. 4, 2009, said that Standard & Poor's affirmed the
ratings on Attleboro, Massachusetts-based Sensata Technologies,
Inc., including the 'CCC+' corporate credit rating.  At the same
time, S&P revised the outlook on the company to stable from
negative.


SIX FLAGS: Bondholders Approached Cedar Fair Investor for Merger
----------------------------------------------------------------
Q Funding III, L.P., and Q4 Funding, L.P., disclosed in a
regulatory filing that they were previously approached by certain
holding company bondholders in Six Flags, Inc. concerning the
hypothetical possibility of merging or combining Cedar Fair, L.P.,
with Six Flags, Inc.  According to Q Funding, it became apparent
on March 19, 2010, that these holding company bondholders were
likely going to control Six Flags and, since then, there have not
been any additional conversations with such bondholders.

Q Funding says it also had conversations with Cedar Fair regarding
the general status of the Six Flags bankruptcy process, but no
discussions have occurred with Cedar Fair concerning the
combination of the two businesses.

Q Funding says it does not currently intend to engage in
conversations about the possibility of a combination or merger
between Six Flags and Cedar Fair, and believe that any such
conversations would be premature.  Q Funding prefers to remain
free to trade in the securities of Cedar Fair.

According to Q Funding, should it, in the future, engage in
substantive conversations about such a combination, it would
suspend further trading in securities of Cedar Fair, if so advised
by their counsel.

According to The New York Post, Six Flags' CEO Mark Shapiro
dismissed those merger talks.  "There is nothing to it," Mr.
Shapiro told the Post in an interview at his Times Square office.

The Post says Six Flags, which is expected to win approval for its
reorganization plan at a hearing on April 28, will emerge from
bankruptcy with about $1 billion in debt, down from $2.7 billion.

                           About Six Flags

Headquartered in New York City, Six Flags, Inc., is the world's
largest regional theme park company with 20 parks across the
United States, Mexico and Canada.

Six Flags filed for Chapter 11 protection on June 13, 2009 (Bankr.
D. Del. Lead Case No. 09-12019).  Paul E. Harner, Esq., Steven T.
Catlett, Esq., and Christian M. Auty, Esq., at Paul, Hastings,
Janofsky & Walker LLP in Chicago, Illinois, act as the Debtors'
lead counsel.  Daniel J. DeFranceschi, Esq., and L. Katherine
Good, Esq., at Richards, Layton & Finger, P.A., in Wilmington,
Delaware, act as local counsel.  Cadwalader Wickersham & Taft LLP,
serves as special counsel.  Houlihan Lokey Howard & Zukin Capital
Inc., serves as financial advisors, while KPMG LLC acts as
accountants.  Kurtzman Carson Consultants LLC serves as claims and
notice agent.  As of March 31, 2009, Six Flags had $2,907,335,000
in total assets and $3,431,647,000 in total liabilities.

Bankruptcy Creditors' Service, Inc., publishes Six Flags
Bankruptcy News.  The newsletter provides gavel-to-gavel coverage
of the Chapter 11 proceedings undertaken by Six Flags Inc. and its
various affiliates.  (http://bankrupt.com/newsstand/or 215/945-
7000).


SNP BOAT: Chapter 15 Case Summary
---------------------------------
Chapter 15 Petitioner: Adorno & Yoss, LLP

Debtor: SNP Boat Service SA
        aka Service Navigation De Plaisance Boat Service SA
        Boulevard de la Croisette
        Port Pierre Canto
        06400
        Cannes, France

Chapter 15 Case No.: 10-18891

Type of Business: The Debtor is a unit of the Rodriguez Group SA
                  which makes luxury yachts.  The Rodriguez Group
                  owns 99.7% of SNP Boat.

Chapter 15 Petition Date:  April 6, 2010

Court: Southern District of Florida (Fort Lauderdale)

Judge: John K. Olson

Debtor's Counsel: Mark S. Roher, Esq.
                  350 East Las Olas Blvd. # 1700
                  Ft Lauderdale, FL 33301
                  Tel: (954) 763-1200
                  Fax : (954) 766-7800
                  Email: mroher@adorno.com

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

Estimated Debts:  $100,000,001 to $500 million

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


SOUTHRIDGE GOLF: Files for Bankruptcy Protection in Sacramento
--------------------------------------------------------------
Ashley Gebb at Appeal-Democrat reports that Southridge Golf Club
filed for Chapter 11 protection in Sacramento, California, listing
assets of $525,000 and $3,490,000 in liabilities.  The company
shut down its golf course before it filed for bankruptcy with no
immediate plans to reopen.

According to the report, the Company blamed economy and the
expense of operating a golf course for the filing.  The Company
said it owes $2.35 million to its primary creditor Sacramento
Valley Farm Credit.

Southridge Golf Club operates a golf course.


STEINWAY MUSICAL: Moody's Gives Stable Outlook; Keeps 'B2' Rating
-----------------------------------------------------------------
Moody's Investors Service changed Steinway Musical Instrument's
rating outlook to stable from negative due to Moody's view that
demand for piano's and band instruments has generally stabilized
in the near-term and may increase in the mid-term.  Moody's also
upgraded the speculative grade liquidity rating to SGL-2 due to
strong cash balances from the recent equity transactions and
Moody's expectation of stable operating cash flow trends going
forward.  At the same time, all ratings, including the B2 CFR and
B3 sr. unsecured notes, were affirmed.

Recent data from Moody's Economy.com suggests that durable
spending has stabilized and will likely lead the recovery in
consumer spending.  "The combination of stabilizing demand trends
and the company's lower cost structure should lead to increased or
at least stable profitability," said Kevin Cassidy, Senior Credit
Officer at Moody's Investors Service.  To illustrate the lower
cost structure, SG&A expenses decreased 17% in 2009 and fourth
quarter 2009 gross margin was down only 90 basis points from 2008
whereas first quarter 2009 gross margins declined 170 basis points
from 2008.

The stable outlook reflects Moody's view that discretionary
consumer spending has likely stabilized and that Steinway's
profitability and operating cash flow should remain at or close to
their current levels.  Moody's expects 2010 revenue to be between
$300 million and 325 million and adjusted EBITDA to be around
$35 million.  The stable outlook also reflects Moody's view that
the company will continue its high product quality standards and
that it will maintain its relatively conservative financial
policies.

The upgrade in the speculative grade liquidity rating to SGL-2
from SGL-3 reflects Steinway's improved liquidity profile with
strong cash balances due to recent equity infusions of over
$54 million and its ability to generate operating cash flow before
working capital changes despite a 20% decrease in revenue.  In
addition to these factors, Steinway's strong liquidity profile is
supported by having full availability under its $110 million
domestic revolving credit facility, lack of any financial
maintenance covenants, no maturities until 2014 and the ability to
monetize select real estate assets.  Liquidity is somewhat
constrained by the maturity of the revolver in September 2011,
although Moody's expects that this will be refinanced within a
year, if not sooner.

This rating was upgraded:

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

These ratings were affirmed:

  -- Corporate family rating at B2;

  -- Probability-of-default rating at B2;

  -- $175 million senior unsecured notes, due 2014, at B3 (LGD 4,
     68% from LGD5, 70%)

The last rating action was on April 9, 2009, where Moody's
downgraded Steinway's ratings to B2 from Ba3 with a negative
outlook.

Steinway Musical Instruments, Inc., headquartered in Waltham,
Massachusetts, is one of the world's leading manufacturers of
musical instruments.  The company's products include Steinway &
Sons, Boston and Essex pianos, Selmer Paris saxophones, Bach
Stradivarius trumpets, C.G. Conn French horns, King trombones, and
Ludwig snare drums.  Revenues for the year ended December 31,
2009, approximated $300 million.


STONE/LIGHT, INC.: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Stone/Light, Inc.
        P.O. Box 24125
        Hilton Head Island, SC 29925

Bankruptcy Case No.: 10-02510

Chapter 11 Petition Date: April 6, 2010

Court: United States Bankruptcy Court
       District of South Carolina (Charleston)

Judge: David R. Duncan

Debtor's Counsel: Robert Frank Anderson, Esq.
                  P.O. Box 76
                  Columbia, SC 29202-0076
                  Tel: (803) 252-8600
                  Fax: (803) 256-0950
                  E-mail: firm@andersonlawfirm.net

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

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

According to the schedules, the Company says that assets total
$1,438,859 while debts total $1,829,818.

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/scb10-02510.pdf

The petition was signed by B. Kenneth Clegg, CEO.


SUNOCO INC: Fitch Downgrades Rating on Subordinated Notes to 'BB+'
------------------------------------------------------------------
Fitch Ratings has downgraded the Issuer Default Rating and Senior
Unsecured rating of Sunoco, Inc., to 'BBB-' from 'BBB' and revised
the Rating Outlook to Stable from Negative.  Fitch has downgraded
Sunoco's debt ratings:

  -- IDR to 'BBB-' from 'BBB';
  -- Senior Unsecured Credit Facility to 'BBB-' from 'BBB';
  -- Senior Unsecured Debt to 'BBB-' from 'BBB';
  -- Subordinated Notes to 'BB+' from 'BBB-'
  -- Commercial Paper to 'F3' from 'F2';
  -- Short-Term IDR to 'F3' from 'F2'.

The downgrade stems from early evidence of a weak 2010 driving
season which is expected to mute profits across the refining
sector, as well as Sunoco's limited ability to absorb additional
refining capacity cuts without additional deleveraging.  According
to the latest Energy Information Administration data, U.S.
gasoline demand appears to have entered its third year of decline,
with year-to-date demand as of early April down 1.4% in 2010,
which follows full-year demand declines of 1.0% in 2009 and 2.2%
in 2008.  As of early April, gasoline demand had fallen
cumulatively approximately 360,000 barrels per day (bpd) relative
to levels seen over the same time period in 2007.

In addition, both gasoline stocks and days of gasoline cover have
built to ample levels early in the season.  While current numbers
are not out of line with historical ranges, the fact that the
market was able to reach these levels given average utilization
rates of less than 81% indicates the size of the capacity overhang
that is available to snuff out any scarcity-driven rallies in the
summer, absent a major disruption such as a hurricane.  Given the
importance of the driving season to the overall profitability of
the year (historically April and May are the strongest margin
months, with 321 crack spreads 137% and 134% of GC 321 yearly
average margins, respectively), the near-term lack of a turnaround
in distillates, and the still-lingering prospect of a jobless
recovery in the U.S., Fitch believes sector profits will be
subdued, resulting in a lackluster year.  One bright spot for
refiners has been the decompression of key crude oil
differentials, which have shown marked improvement, with year-to-
date WTI-Maya spreads averaging just under $9.00/barrel from the
low of $5.24/barrel seen last year, while WTI-WTS spreads have
widened to $1.86/barrel from $0.99/barrel seen last year.
However, as a generally light sweet refiner, Sunoco is not
expected to see a significant uplift from this decompression.  For
more information, see Fitch's release '2010 Outlook for Refiners:
Still Waiting for the Turnaround', published 23 March 2010.

In response to the downturn, Sunoco has taken aggressive steps to
boost liquidity and reduce its cost structure, including the
permanent shutdown of the 150,000 bpd Eagle Point, NJ refinery, a
50% dividend cut ($70 million per year beginning in 2010), the
sale of the polypropylene business to Braskem ($350 million), the
sale of an additional stake in Sunoco Logistics limited partner
units to the public ($145 million), the re-set of Sunoco's
incentive distribution rights associated with SXL ($201 million),
the cash tax refunds from net operating losses allowed by recent
legislation over a five-year look-back period ($400 million), as
well as a pension benefits freeze effective June 30, 2010.  While
Fitch anticipates the company will be modestly free-cash-flow
(FCF) negative in 2010, the above actions are expected to provide
a significant increase in Sunoco's cash balances and enhance near-
term liquidity, which should help the company bridge over near-
term trough conditions without needing to issue additional debt.
This liquidity cushion is a main driver of Fitch's Stable Outlook.

However, Fitch would note that with these actions completed,
additional liquidity-raising moves are likely limited.  With the
closure of Eagle Point and sale of Tulsa, Sunoco's refining
footprint has dropped to 675,000 bpd versus 910,000 bpd, with most
of that capacity located on the import-prone east coast market.
Given this smaller asset base, Fitch believes Sunoco has less
ability to absorb additional capacity cuts than a number of its
peers.  At the same time, given Fitch's expectations for lingering
oversupply of global refining capacity and the slowness of
industry rationalization to date in Europe, margin pressure may
remain on Atlantic basin refiners over an extended period.  In
addition, Sunoco has meaningful pending regulatory capex
requirements of approximately $215 million at its Marcus Hook
refinery under an EPA Consent Decree ruling.  This consent work
must be completed prior to 2014.  Should Sunoco decide to shutter
this refinery, negative rating actions would be considered.

For the latest 12 months ending Dec. 31, 2009, Sunoco generated
EBITDA of $598 million, and FCF of negative $491 million.  Given
gross debt of $2.46 billion, FFO/interest coverage was 4.2x times
(x), and debt/EBITDA at year end was 4.12x (3.3x adjusting for
Sunoco's economic interest in SXL, including GP, as calculated by
Fitch).  Fitch anticipates that Sunoco will be FCF negative in
2010 and 2011.  Sunoco maintains liquidity through cash on hand
($377 million at Dec. 31, 2009), cash flow from operations, and
borrowing availability from its revolvers and accounts receivable
(A/R) securitization facility.  Most ($1.22 billion) of Sunoco's
main $1.3 billion revolver matures in August 2012, with the
remainder expiring in August 2011.  Availability on the main
revolver was approximately $903 million at Dec. 31, 2009.  Key
revolver financial covenants include a minimum tangible net worth
(TNW) requirement and a maximum consolidated net-debt-to-
capitalization ratio of 60%.  At Dec. 31, 2009, approximately
$900 million in headroom remained on the TNW requirement, while
net-debt-to-capitalization was 41% versus covenant limits of 60%.
Sunoco also has a $300 million A/R securitization facility (expiry
August 2010), which was fully available at the end of 2009.

Sunoco Logistics (SXL, not rated by Fitch) maintains its own
$400 million revolver expiring in November 2012.  Covenants
include a maximum debt-to-EBITDA ratio of 4.75x (5.25x during
acquisition periods), limits on additional secured debt, change-
in-control provisions, and restricted payment provisions.  SXL
also signed a $63 million unsecured credit facility due in
September 2011 with covenants including a maximum debt-to-EBITDA
ratio of 4.0x (4.5x during acquisition periods).  At Dec. 31,
2009, debt-to-EBITDA was 2.4x.  Near-term maturities for Sunoco
are manageable, and include nothing due in 2010, $177 million in
6.75% notes due April 2011, and $257 million in maturities in 2012
($250 million of which is at SXL).  Sunoco's pension funding
shortfall at year-end 2009 was $319 million versus $358 million
the year prior; however, in early 2010, Sunoco made a large
pension contribution (approximately $140 million in cash and
$90 million in Sunoco stock) to address this underfunding.

Catalysts for negative rating actions include additional
reductions in refining capacity, a major leveraging transaction or
further sustained deterioration in market fundamentals from
current low levels.  Catalysts for positive ratings actions
include faster than expected improvement in refining fundamentals
accompanied by debt reductions.  However, as stated previously,
Fitch does not anticipate rapid improvements in refining
fundamentals in the U.S.

Sunoco's ratings are supported by the company's refining and
retail base; its strong market position in the Northeast;
diversified portfolio of non-refining businesses; and historically
conservative credit profile.  Ratings concerns center on the
duration of the current downturn and its impact on transport fuel
demand; the coke business' concentrated counterparty exposure to
steel; and over the longer term, Sunoco's limited feedstock
flexibility as a light, sweet crude oil refiner.  Fitch would note
that given the substantial cost to add refining flexibility, any
strategic change in the makeup of Sunoco's refining assets has the
potential to place significant pressure on future cash flows and
the company's ratings.

Sunoco is an independent petroleum refiner and marketer in the
United State with a series of diversified non-refining businesses.
The company's retail presence includes approximately 4,700 outlets
along the East Coast and in the Midwest.  The company is also a
large petrochemical producer, predominantly chemical
intermediates, with annual capacity of approximately 3 billion
pounds at March 31, 2010.  Sunoco also operates coke-making
facilities in Virginia, Ohio, Indiana, and Brazil and owned
approximately 33% of Sunoco Logistics Partners L.P, including the
2% GP stake as of the end of March.


SUNESIS PHARMACEUTICALS: Board OKs Changes to 2009 Bonus Program
----------------------------------------------------------------
Sunesis Pharmaceuticals, Inc., disclosed that on March 31, 2010,
its board of directors approved the amendment and restatement of
its 2009 Bonus Program, which was initially adopted by its board
on May 8, 2009.

The Bonus Program extends the end date of the period covered by
the Bonus Program from March 31, 2010, to April 30, 2010, and
provides that raising net proceeds of a specified amount through a
financing or corporate transaction on or before March 31, 2010, is
no longer a threshold corporate objective.  However, if the
Company's cash balance does not equal or exceed a specified amount
on or before July 31, 2010, as a result of proceeds from one or
more transactions deemed to be aligned with the value-creating
objectives of the Bonus Program, or the Cash Bonus Threshold, no
cash bonuses will be earned under the Bonus Program regardless of
whether the corporate objectives or individual objectives are
deemed to be achieved by the compensation committee of the board
of directors.  The compensation committee of the board of
directors will determine in its sole discretion whether the Cash
Balance Threshold has been achieved.

                   About Sunesis Pharmaceuticals

South San Francisco, Calif.-based Sunesis Pharmaceuticals, Inc.
(NASDAQ: SNSS) -- http://www.sunesis.com/-- is a
biopharmaceutical company focused on the development and
commercialization of new oncology therapeutics for the treatment
of hematologic and solid tumor cancers.

The Company's balance sheet as of December 31, 2009, showed
$5.2 million in assets, $3.1 million of debts, and $2.1 million of
stockholders' equity.

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 that of the Company's recurring
losses from operations.


SUNESIS PHARMACEUTICALS: Credit Suisse Holds 3.51% of Common Stock
------------------------------------------------------------------
Credit Suisse AG disclosed holding 1,206,590 shares or roughly
3.51% of the common stock of Sunesis Pharmaceuticals, Inc.

South San Francisco, Calif.-based Sunesis Pharmaceuticals, Inc.
(NASDAQ: SNSS) -- http://www.sunesis.com/-- is a
biopharmaceutical company focused on the development and
commercialization of new oncology therapeutics for the treatment
of hematologic and solid tumor cancers.

The Company's balance sheet as of December 31, 2009, showed
$5.2 million in assets, $3.1 million of debts, and $2.1 million of
stockholders' equity.

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 that of the Company's recurring
losses from operations.


SUNESIS PHARMACEUTICALS: Bristol-Myers Holds 3.7% of Shares
-----------------------------------------------------------
Bristol-Myers Squibb Company in New York disclosed that it may be
deemed to beneficially own 1,283,134 shares or roughly 3.7% of the
common stock of Sunesis Pharmaceuticals, Inc.

South San Francisco, Calif.-based Sunesis Pharmaceuticals, Inc.
(NASDAQ: SNSS) -- http://www.sunesis.com/-- is a
biopharmaceutical company focused on the development and
commercialization of new oncology therapeutics for the treatment
of hematologic and solid tumor cancers.

The Company's balance sheet as of December 31, 2009, showed
$5.2 million in assets, $3.1 million of debts, and $2.1 million of
stockholders' equity.

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 that of the Company's recurring
losses from operations.


SUNESIS PHARMACEUTICALS: Deerfield Holds 1.33% of Common Stock
--------------------------------------------------------------
James E. Flynn, Deerfield Capital, L.P., Deerfield Partners, L.P.,
Deerfield Special Situations Fund, L.P., Deerfield Management
Company, L.P., Deerfield International Limited, Deerfield Special
Situations Fund International Limited disclosed that they may be
deemed to beneficially own in the aggregate 483,092 shares or
roughly 1.33% of the common stock of Sunesis Pharmaceuticals, Inc.

South San Francisco, Calif.-based Sunesis Pharmaceuticals, Inc.
(NASDAQ: SNSS) -- http://www.sunesis.com/-- is a
biopharmaceutical company focused on the development and
commercialization of new oncology therapeutics for the treatment
of hematologic and solid tumor cancers.

The Company's balance sheet as of December 31, 2009, showed
$5.2 million in assets, $3.1 million of debts, and $2.1 million of
stockholders' equity.

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 that of the Company's recurring
losses from operations.


SYNCORA HOLDINGS: Insurance Unit Closes Transaction
---------------------------------------------------
Syncora Holdings Ltd.'s wholly owned, New York financial guarantee
insurance subsidiary, Syncora Guarantee Inc. has closed the
outstanding transaction that formed part of the Company's
restructuring, previously approved by the New York Insurance
Department and announced by Syncora on July 17, 2009.  The terms
of the settlement are confidential.  The Company notes that the
closing of the transaction included a cash payment previously
reported in connection with the closing of the 2009 MTA and will
not materially impact Syncora Guarantee's previously reported
financial position or results of operations; and that the 1310
Order issued by the NYID on April 10, 2009 that temporarily
prohibits the Company from paying claims will remain in effect.

As noted in the press release of March 2, 2010 and explained in
the notes to Syncora's year-end 2009 financial statements, the
Company is currently faced with significant short-term liquidity
and surplus issues and is undertaking several remediation actions
designed to address these issues.  As a result, the Company is not
in a position to request that the NYID lift the 1310 Order unless
and until actions to resolve its liquidity and surplus issues are
completed.  The Company notes that there can be no guarantee that
its efforts will be successful or that if they are, and a request
is made of the NYID with respect to lifting the 1310 Order, that
the NYID will grant such a request.  The Company also cannot
guarantee that the NYID will not take further regulatory action,
which may include commencement of rehabilitation or liquidation
proceedings.

                   About Syncora Guarantee Inc.

Syncora Guarantee Inc. -- http://www.syncora.com/-- is a wholly
owned subsidiary of Syncora Holdings Ltd.  Syncora Holdings Ltd.
is a Bermuda-domiciled holding company.

In April 2009, Standard & Poor's Ratings Services revised its
financial strength and financial enhancement ratings on Syncora
Guarantee Inc. to 'R' from 'CC'.  Standard & Poor's also revised
its counterparty credit rating on Syncora to 'D' from 'CC'.  An
insurer rated 'R' is under regulatory supervision because of its
financial condition.  The 'CC' counterparty credit, financial
strength, and financial enhancement ratings on Syncora Guarantee
U.K. Ltd. are unchanged because at this time, that company is not
subject to any regulatory orders that mandate the suspension of
claims payments.


TAGISH LAKE: Obtains Creditor Protection in Canada
--------------------------------------------------
Tagish Lake Gold Corp., Richmond, BC has obtained creditor
protection under the Companies' Creditors Arrangement Act.  The
Company's day to day operations are expected to continue without
interruption.

The Company has made this decision with the unanimous
authorization of its recently-appointed Board of Directors, after
thorough consultation with its advisors and extensive
consideration of all other alternatives.  The process will allow
the Company to deal comprehensively with its debt burden and to
restructure its operations.

The Company had over $7,000,000 in total current liabilities as of
January 31, 2010, including secured and unsecured amounts due to
its trade and general creditors, and it is currently unable to
meet those liabilities as they become due.

YS Mining Company Inc. is the Company's largest general secured
creditor. Pursuant to the general security agreement between the
Company and Macquarie Bank Limited, assigned to YS Mining, YS
Mining holds a security interest in all of the Company's present
and after acquired personal property, all of the Company's present
and future Mineral Rights (as defined in the Macquarie GSA) and
the mineral projects comprised in the Project (as defined in the
Macquarie GSA).

The Company is in default of the credit facilities secured by the
Macquarie GSA. YS Mining has not taken steps to enforce payment of
the said credit facilities pursuant to the Macquarie GSA, but is
contractually able to do so. The CCAA Order imposes a stay on any
enforcement proceedings.

The Company and YS Mining are currently engaged in negotiations
with a view to settling the amount due.  The Company is hopeful
that the negotiations will be successful but, at the present time,
there is no certainty that the negotiations will result in a
binding agreement between the parties.

To date, the Company has made investments in and expenditures on
its mineral properties of over $30,000,000 and if YS Mining or
other secured creditors take steps to enforce their security, the
Company will be at risk of losing the investment it has made in
the development of the mineral properties.

YS Mining has indicated a preliminary willingness to provide
debtor in possession financing to the Company to facilitate its
restructuring, and in making post-restructuring loans to and/or
investments in the Company.  Given the progress it has made in
negotiations with YS Mining to date, if the Company is afforded
sufficient time to make financing arrangements, the Company is
encouraged that such financing can be successfully concluded with
YS Mining in the context of the Company's restructuring under the
CCAA and ultimately on terms acceptable to the Company's creditors
and the Court.

The Company has had preliminary settlement discussions with other
secured creditors and is optimistic that settlement can be reached
and the restructuring approved on a timely basis.

The application under the CCAA was made on Friday, April 9, 2010,
to the British Columbia Supreme Court and an Order was made
granting the Company an Initial Order under the CCAA.

The Company remains in good standing with its Registrar and
Transfer Agent, and its six directors, who were appointed in late
November, 2009, are committed to restructuring the Company's
affairs and to quickly resuming development of the Mt. Skukum
properties.

                          About Tagish Lake

Tagish Lake Gold Corp. explores for and develops high grade gold-
silver mineral deposits in the Yukon Territory of Canada.  The
Company is currently focused on its wholly owned, 178 km2 Skukum
Mineral District located 80 km by road south of Whitehorse.  The
Skukum Mineral District hosts the Skukum Creek gold-silver
deposit, the Goddell Gully and the Mt. Skukum gold deposits.


TAMARACK RESORT: Case Converted to Chapter 11 Reorganization
------------------------------------------------------------
Deanna Darr at Boise Weekly says a federal bankruptcy judge
converted the Chapter 7 liquidation proceeding of Tamarack Resort
LLC to Chapter 11 reorganization allowing the Company to
restructure its debt, work with creditors, and avoid selling of
its assets to pay bills.

                       About Tamarack Resort

Tamarack Resort LLC, a golf and ski resort in Valley County,
Idaho, was sent to Chapter 7 after creditors submitted an
involuntary petition (Bankr. D. Idaho Case No. 09-03911).  The
petitioning creditors include an affiliate of Bank of America
Corp. owed $4.7 million.

The project's 27.5% owner, VPG Investments Inc., filed for Chapter
11 reorganization in 2008, only to have the petition dismissed in
October 2008 at the request of the secured creditor, Credit
Suisse, Caymans Islands Branch.  VPG was controlled by Mexican
businessman Alfredo Miguel Afif.  Credit Suisse, the agent for the
secured lenders, characterized VPG's Chapter 11 case as "a classic
example of a bad faith filing" made "solely as a litigation
tactic" to stop foreclosure.


TAPATIO SPRINGS: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Tapatio Springs Golf Resort, Inc.
          dba Tapatio Springs Resort and Conference Center
        301 A. Blue Heron Boulevard
        Boerne, TX 78006

Bankruptcy Case No.: 10-51340

Chapter 11 Petition Date: April 6, 2010

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

Judge: Ronald B. King

Debtor's Counsel: William B. Kingman
                  4040 Broadway, Suite 450
                  San Antonio, TX 78209
                  Tel: (210) 829-1199
                  E-mail: bkingman@kingmanlaw.com

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

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

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/txwb10-51340.pdf

The petition was signed by John J. Parker, president.


TELCORDIA TECHNOLOGIES: Moody's Affirms 'B3' Corp. Family Rating
----------------------------------------------------------------
Moody's Investors Service affirmed Telcordia Technologies, Inc.'s
B3 corporate family rating and rated its proposed new first and
second lien credit facilities B1 and Caa2 respectively.  The
proposed facilities will be used to refinance existing credit
facilities that start to mature in 2012.  The proposed facilities
push maturities out to 2015, beyond the wave of industry wide
leveraged debt that matures between 2012 and 2014.  While the new
facilities push maturity out, they add maintenance financial
covenants, which the existing facilities do not have, and increase
interest rates.  Moody's also notes that as a result of relatively
high transaction costs, cash balances at close will be lower than
in similar periods of prior years.  Overall, however the new
facilities do not impact the corporate family rating.  The ratings
outlook remains stable.

The B3 corporate family rating continues to reflect that the
leverage is high given the long term challenges the company faces
in replacing its declining legacy RBOC business.  The company has
developed fairly exclusive relationships with the RBOCs supporting
their legacy circuit switched networks, but faces larger, better
capitalized competitors in providing software for next generation
networks.  There is some indication that the legacy software may
prove somewhat resilient as it is deeply entrenched in the
operations of the carriers and may be modified to handle new
services.  The company also faces strong competition in its other
business lines including prepaid billing tracking and number
portability services but is showing some success in winning
business despite a fairly competitive environment.  Leverage
levels are suggestive of higher rated software companies, however,
free cash flow and long term growth uncertainties are more
reflective of a B3 rating.

These ratings were affirmed:

  -- Corporate family rating: B3
  -- Probability of default: B3

These ratings will be assigned at closing of the facilities

  -- $80 million Senior Secured Revolver due 2015, B1 (LGD3 - 30%)

  -- $500 million Senior Secured Term Loan due 2016, B1 (LGD3 -
     30%)

  -- $300 million 2nd Lien Notes due 2018, Caa2 (LGD5 - 83%)

These ratings were affirmed but will be withdrawn at closing of
the new facilities

  -- $100 million "First Out" Senior Secured Revolver due 2012,
     Ba3 (LGD1 - 2%)

  -- $555 million Senior Secured Floating Rate Notes due 2012, B2
     (LGD3 - 38%)

  -- $255 million Senior Subordinated Notes due 2013 rated Caa2
     (LGD5 - 87%)

The outlook is stable.

Moody's most recent rating action was March 2, 2010, when Moody's
revised Telcordia's ratings outlook to stable from negative.

Telcordia Technologies Inc. is a major provider of operations
support systems software and network systems products for
telecommunications providers.  The company is headquartered in
Piscataway, New Jersey.


TERRA ENERGY: Delays Filing of Annual Report on Form 10-K
---------------------------------------------------------
Terra Energy & Resource Technologies, Inc., failed to file its
annual report on Form 10-K for the year ended December 31, 2009,
by the March 31 deadline.  In a regulatory filing, the Company
said it is in the process of preparing and reviewing the financial
and other information for its Form 10-K report, and does not
expect the report will be finalized for filing by the prescribed
due date without unreasonable effort or expense.  The Company
needs additional time to complete its financial statements, as
well as to have the report reviewed by its accountants and
attorneys.  The Company undertakes the responsibility to file such
report no later than 15 days following the prescribed due date.

                           Going Concern

At September 30, 2009, the Company had total assets of $1,416,657
against total liabilities of $2,057,592, all current.  At
September 30, 2009, the Company had accumulated deficit of
$23,599,275 and shareholders' deficit of $640,935.

In its Form 10-Q report for the September 30, 2009 quarter, the
Company noted it has incurred substantial losses from operations,
sustained substantial cash outflows from operating activities, and
has both a significant working capital deficiency and accumulated
deficit at September 30, 2009, and at December 31, 2008.  Those
factors raise substantial doubt about the Company's ability to
continue as a going concern.  The Company's continued existence
depends on its ability to obtain additional equity or debt
financing to fund its operations and ultimately to achieve
profitable operations.  The Company is attempting to raise
additional financing and has initiated a cost reduction strategy.
Given the Company's tight cash position, its ability to continue
as a going concern is dependent on the Company (1) raising
additional equity or debt financing or (2) the Company obtaining
sufficient fee revenue from service business to support the
operations of the Company.  There can be no assurance that the
Company will be successful in either effort.

            About Terra Energy & Resource Technologies

Terra Energy & Resource Technologies, Inc., formerly CompuPrint,
Inc., through its wholly owned subsidiary, Terra Insight Services,
Inc., provides mapping, surveying, and analytical services to
exploration, drilling, and mining companies.


THUY VO: Case Summary & 16 Largest Unsecured Creditors
------------------------------------------------------
Debtor: Thuy Vo
        4525 Laird Cir.
        Santa Clara, CA 95054

Bankruptcy Case No.: 10-53529

Chapter 11 Petition Date: April 6, 2010

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

Judge: Arthur S. Weissbrodt

Debtor's Counsel: Drew Henwood, Esq.
                  Law Offices of Drew Henwood
                  41 Sutter St. #621
                  San Francisco, CA 94104
                  Tel: (415) 362-7412
                  Fax: 408-279-2735
                  E-mail: dfhenwood@aol.com

Scheduled Assets: $863,019

Scheduled Debts: $1,498,343

A list of the Company's 16 largest unsecured creditors is
available for free at http://bankrupt.com/misc/canb10-53529.pdf

The petition was signed by Thuy Vo.


TLC VISION: Files Fourth Amended Plan of Reorganization
-------------------------------------------------------
TLC Vision (USA) Corporation, et al., filed with the U.S.
Bankruptcy Court for the District of Delaware a Plan of
Reorganization, amended for the fourth time.

According to the amended Plan, the Debtors reserve the right to
seek substantive consolidation, when necessary.

The Reorganized Debtors will deliver to the disbursing agent
sufficient cash to make distributions to be made on the effective
date to the holders of allowed claims entitles to receive cash.
Payments and other distributions will be available from the funds
held by the Reorganized Debtors as of the effective date.

A full-text copy of the fourth amended Plan is available for free
at http://bankrupt.com/misc/TLCVision_4thAmendedPlan.pdf

The Debtors are represented by:

     Richards Layton & Finger, P.A.
     Mark D. Collins
     Michael J. Merchant
     Chun I. Jang
     Andrew C. Irgens
     One Rodney Square
     920 North King Street
     Wilmington, DE 19801
     Tel: (302) 651-7700
     Fax: (302) 651-7701

     Proskauer Rose LLP
     Mark K. Thomas
     Paul V. Possinger
     Jeremy T. Stillings
     Three First National plaza
     70 West Madison, Suite 3800
     Chicago, IL 60602
     Tel: (312) 962-3550
     Fax: (312) 962-3551

                         About TLC Vision

TLCVision -- http://www.tlcvision.com/-- is North America's
premier eye care services company, providing eye doctors with the
tools and technologies needed to deliver high-quality patient
care. Through its centers' management, technology access service
models, extensive optometric relationships, direct to consumer
advertising and managed care contracting strength, TLCVision
maintains leading positions in Refractive, Cataract and Eye Care
markets.

TLC Vision (USA) Corporation, and two of its corporate affiliates
filed petitions for Chapter 11 on Dec. 21, 2009 (Bankr. D. Del.
Case No. 09-14473).  The petition says assets and debts are
$100 million to $500 million.

The Company's lead U.S. restructuring counsel is the law firm of
Proskauer Rose LLP and Canadian restructuring counsel is the law
firm of Torys LLP.  The Company's financial advisor is Conway Del
Genio Gries & Co., LLC.  Epiq Bankruptcy Solutions is claims and
notice agent.


TMS EQUIPMENT: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: TMS Equipment, LLC
          DBA Volvo Rents
        15225 Industrial Road
        Omaha, NE 68144

Bankruptcy Case No.: 10-81001

Chapter 11 Petition Date: April 6, 2010

Court: U.S. Bankruptcy Court
       District of Nebraska (Omaha Office)

Debtor's Counsel: Robert F. Craig, Esq.
                  Robert F. Craig, P.C.
                  1321 Jones Street
                  Omaha, NE 68102
                  Tel: (402) 408-6004
                  Fax: (402) 408-6001
                  E-mail: robert@craiglaw.org

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 Walt Price, managing member.


TREY RESOURCES: Reports $1,540,372 Net Loss for 2009
----------------------------------------------------
Trey Resources, Inc., filed with the Securities and Exchange
Commission its annual report on Form 10-K for the year ended
December 31, 2009.  Net loss attributable to Trey Resources was
$1,540,372 for 2009 from a net loss of $1,486,398 for 2008.  Net
sales were $7,414,648 for 2009 from $7,724,295 for 2008.

At December 31, 2009, the Company had total assets of $1,120,713
against total liabilities, all current, of $6,042,974, resulting
in stockholders' deficit of $4,922,261.

In its March 27, 2010 report, Friedman LLP in Marlton, New Jersey,
said the Company has incurred substantial accumulated deficits and
operating losses.  These issues lead to substantial doubt about
the Company's ability to continue as a going concern.

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?5fd1

Livingston, N.J.-based Trey Resources, Inc. operates as a business
consultant, and value-added reseller and developer of financial
accounting software in the United States.


TRIBUNE COMPANY: Files Plan of Reorganization
---------------------------------------------
Tribune Company filed with the United States Bankruptcy Court for
the District of Delaware, a Plan of Reorganization that would keep
the company intact, sharply reduce its debt, and provide it with
sufficient liquidity to expand its business in the future.

Tribune filed a voluntary petition under Chapter 11 of the U.S.
Bankruptcy Code in December 2008, and has continued operating its
newspapers, broadcasting assets and interactive properties without
interruption since that time.  The Plan, which must still be
approved by Tribune creditors and the Court, is expected to enable
the company to emerge from bankruptcy later this year.

"Tribune's leadership team and employees have done an outstanding
job of stabilizing and refocusing the company's business," said
Sam Zell, chairman.  "Today's filing represents a significant and
positive step forward for the business."

Tribune's chief executive officer, Randy Michaels, said, "We
continue to transform Tribune into an industry-leading media
company, improving our competitive position.  This Plan better
positions us to continue serving our users, readers, viewers,
listeners and advertisers across our media platforms and gives us
an opportunity to expand our business upon emergence from a solid
financial base."

Tribune expects to continue its recently implemented employee
retirement plan, featuring a 401(k) with a company match and a
discretionary profit-sharing allocation.  Under the Plan, the
company's employee stock ownership plan would terminate and the
shares held by the ESOP and in employee accounts would be
extinguished.

"We're looking forward to emerging from Chapter 11 and building on
the momentum we've generated," said Michaels.

TRIBUNE is an industry-leading multimedia company, operating
businesses in publishing, interactive and broadcasting.  In
publishing, Tribune's leading daily newspapers include the Los
Angeles Times, Chicago Tribune, The Baltimore Sun, Sun Sentinel
(South Florida), Orlando Sentinel, Hartford Courant, Morning Call
and Daily Press.  The company's broadcasting group operates 23
television stations, WGN America on national cable and Chicago's
WGN-AM. Popular news and information websites complement Tribune's
print and broadcast properties and extend the company's nationwide
audience.  At Tribune we take what we do seriously and with a
great deal of pride.  We also value the creative spirit and
nurture a corporate culture that doesn't take itself too
seriously.

                      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)


TROCK, L.P.: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: TRock, L.P.
        1411 South Goliad
        Rockwall, TX 75087

Bankruptcy Case No.: 10-32490

Chapter 11 Petition Date: April 6, 2010

Court: U.S. Bankruptcy Court
       Northern District of Texas (Dallas)

Judge: Harlin DeWayne Hale

Debtor's Counsel: Richard G. Grant, Esq.
                  Roberts & Grant, PC
                  1304 John McCain Road
                  Colleyville, TX 76034
                  Tel: (214) 210-2929
                  Fax: (214) 224-0198
                  E-mail: rgrant@robertsandgrant.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 Tony Arterburn, president of the GP.


TRUMP ENTERTAINMENT: Court Confirms Mgt. & Bondholders' Plan
------------------------------------------------------------
The Hon. Judith Wizmur of the U.S. Bankruptcy Court for the
District of New Jersey has entered an order confirming the plan of
reorganization of Trump Entertainment Resorts, Inc., supported by
the Company and the Ad Hoc Committee of the Company's bondholders.

In considering the ruling, Judge Wizmur heard and reviewed
extensive testimony and documents from the Company and the Ad Hoc
Committee, as well as from Icahn Partners, which filed a competing
plan that was not confirmed by the Court.  The Company expects
final emergence from reorganization later this year, upon
regulatory approval.

Avenue Capital Group served as the lead bondholder throughout the
reorganization process, and will become the largest shareholder in
the Company upon emergence.  The Plan confirmed by the Court was
also supported by Donald J. Trump and his daughter, Ivanka Trump.

Under the confirmed plan $225 million of new equity will be
injected into the Company and the Company will benefit from
improved liquidity and capital resources.  Additionally, the
Company will be able to retain the Trump brand for Atlantic City
operations.

Marc Lasry, the chairman and chief executive officer of Avenue
Capital Group, noted: "We are making this investment into this
company because we firmly believe in the future of the gaming
business in Atlantic City and the strength of the Trump brand.
Despite the tough effects of the economic downturn, the fact
remains that the attributes that make Atlantic City special have
not changed. The incredible proximity to an extensive customer
base coupled with a productive regulatory structure creates a
promising business opportunity for this company that will be
financially stronger than ever upon emergence."

Donald J. Trump, the founder of the predecessor companies to Trump
Entertainment Resorts, commented: "This is a great victory for
Atlantic City and the company.  I have always believed in Atlantic
City and am happy that this decision will mark my return to the
business that bears my name and is one that I care deeply about.
Since I opened Trump Plaza over twenty-five years ago, I have
always thought that through smart investments we could create a
truly special and vibrant resort on the Atlantic Ocean.  We have a
company with a solid balance sheet, enthusiastic ownership and
dedicated management, and I am enthusiastic about the future."

Mark Juliano, the chief executive officer of Trump Entertainment
Resorts, said, "We are excited about the future of our company,
and thank our team for their continued dedication through this
difficult process.  Now, we are on the verge of emerging as a
stronger company with new capital resources and a shared vision
for the future with our new ownership and Mr. Trump.  We have a
great team in place that is set to benefit from the changes we
have made through this reorganization that create a platform for
growth and prosperity."

                    About Trump Entertainment

Based in Atlantic City, New Jersey, Trump Entertainment Resorts
Inc. (NASDAQ: TRMP) -- http://www.trumpcasinos.com/-- owns and
operates three casino hotel properties in Atlantic City, New
Jersey, which include Trump Taj Mahal Casino Resort, Trump Plaza
Hotel and Casino, and Trump Marina Hotel Casino.  The Company
conducts gaming activities and provides customers with casino
resort and entertainment.

Donald Trump is a shareholder of the Company and, as its non-
executive Chairman, is not involved in the daily operations of the
Company.  The Company is separate and distinct from Mr. Trump's
privately held real estate and other holdings.

Trump Entertainment Resorts, TCI 2 Holdings, LLC, and other
affiliates filed for Chapter 11 on February 17, 2009 (Bankr. D.
N.J., Lead Case No. 09-13654).  The Company has tapped Charles A.
Stanziale, Jr., Esq., at McCarter & English, LLP, as lead counsel,
and Weil Gotshal & Manges as co-counsel.  Ernst & Young LLP is the
Company's auditor and accountant and Lazard Freres & Co. LLC is
the financial advisor.  Garden City Group is the claims agent.
The Company disclosed assets of $2,055,555,000 and debts of
$1,737,726,000 as of December 31, 2008.

Trump Hotels & Casino Resorts, Inc., filed for Chapter 11
protection on Nov. 21, 2004 (Bankr. D. N.J. Case No. 04-46898
through 04-46925).  Trump Hotels' obtained the Court's
confirmation of its Chapter 11 plan on April 5, 2005, and in May
2005, it exited from bankruptcy under the name Trump Entertainment
Resorts Inc.


UAL CORP: Merger Talks With US Air Have Become "Very Serious"
-------------------------------------------------------------
Susan Carey and Dennis Berman at The Wall Street Journal report
that merger talks between UAL Corp.'s United Airlines and US
Airways Group Inc. have become "very serious," according to one
person close to the matter.  The source, however, told the Journal
the talks remain sensitive and it is just as likely the
discussions will fall apart as result in a done deal.  The person
also said any transaction would be an all-stock merger, with
United being the surviving entity.  The Journal relates the share
premium to be paid to US Airways shareholders hasn't been settled.
The Journal also relates that another person familiar with the
talks said the two sides haven't yet agreed who would run the
combination.

The Journal also reports that if the deal comes to fruition, it
would be announced within two or three weeks.  A third person
close to the situation, according to the Journal, suggested that
Glenn Tilton, UAL's chief executive officer, recently restarted
the talks, not his counterpart at US Airways, Doug Parker.

The Journal says Chicago-based United, the third-largest U.S.
airline by traffic, declined to comment. US Airways, No. 6 and
based in Tempe, Ariz., also had no comment.  A merger deal would
create the second largest U.S. airline by traffic after Delta Air
Lines Inc.

The Journal also relates that a wild card is what Continental
might do if it is threatened with becoming a very distant No. 4 in
the airline pecking order.  The Journal says some analysts believe
the United Airlines-US Airways talks became public as a way to
pressure Continental to return to the bargaining table with
United.  Continental, which now has a marketing alliance with
United and is a member of the global Star Alliance group that
includes US Airways, declined to comment.

The Journal also relates that AMR Corp.'s CEO, Gerard Arpey, last
week said he doesn't believe a United-US Airways merger would be a
problem for his carrier, the No. 2 by traffic.  Although fewer
airlines probably would be better, the Journal relates Mr. Arpey
said, "I don't think necessarily consolidation is the answer to
all the economic challenges the industry faces.  I don't think
it's a silver bullet."

                      About UAL Corporation

Based in Chicago, Illinois, UAL Corporation (NASDAQ: UAUA) --
http://www.united.com/-- is the holding company for United
Airlines, Inc.  United Airlines is the world's second largest air
carrier.  The airline flies to Brazil, Korea and Germany.

The company filed for Chapter 11 protection on Dec. 9, 2002
(Bankr. N.D. Ill. Case No. 02-48191).  James H.M. Sprayregen,
Esq., Marc Kieselstein, Esq., David R. Seligman, Esq., and Steven
R. Kotarba, Esq., at Kirkland & Ellis, represented the Debtors in
their restructuring efforts.  Fruman Jacobson, Esq., at
Sonnenschein Nath & Rosenthal LLP represented the Official
Committee of Unsecured Creditors.  Judge Eugene R. Wedoff
confirmed a reorganization plan for United on Jan. 20, 2006.  The
Company emerged from bankruptcy on Feb. 1, 2006.

Reorganized UAL Corp. carries a 'Caa1' probability of default
rating from Moody's, 'B-' long term foreign issuer credit rating
from Standard & Poor's, and 'CCC' long term issuer default rating
from Fitch.

                        About US Airways

US Airways -- http://www.usairways.com/-- along with US Airways
Shuttle and US Airways Express, operates more than 3,000 flights
per day and serves more than 190 communities in the U.S., Canada,
Mexico, Europe, the Middle East, the Caribbean, Central and South
America.

Under a Chapter 11 plan declared effective on March 31, 2003,
USAir emerged from bankruptcy with the Retirement Systems of
Alabama taking a 40% equity stake in the deleveraged carrier in
exchange for $240 million infusion of new capital.

US Airways and its subsidiaries filed another Chapter 11 petition
on September 12, 2004 (Bankr. E.D. Va. Case No. 04-13820).  Brian
P. Leitch, Esq., Daniel M. Lewis, Esq., and Michael J. Canning,
Esq., at Arnold & Porter LLP, and Lawrence E. Rifken, Esq., and
Douglas M. Foley, Esq., at McGuireWoods LLP, represented the
Debtors in their restructuring efforts.  The USAir II bankruptcy
plan became effective on September 27, 2005.  The Debtors
completed their merger with America West on the same date. (US
Airways Bankruptcy News; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).

                         *     *     *

As of December 31, 2009, US Airways had total assets of
$7,454,000,000, including $2,331,000,000 in total current assets,
against total current liabilities of $2,789,000,000 and total
noncurrent liabilities and deferred credits of $5,020,000,000,
resulting in $355,000,000 stockholders' deficit.

US Airways Group carries Moody's "Caa1" Long-Term rating, LT Corp.
family rating and probability of default rating.  Outlook is
negative.

US Airways Group carries Standard & Poor's "B-" LT Foreign Issuer
Credit rating and LT Local Issuer credit rating.  Outlook is also
negative.

US Airways Group carries Fitch's "CCC" LT Issuer default rating
and "C" Senior unsecured debt rating.  Outlook is also negative.


US AIR: Merger Talks With United Have Become "Very Serious"
-----------------------------------------------------------
Susan Carey and Dennis Berman at The Wall Street Journal report
that merger talks between UAL Corp.'s United Airlines and US
Airways Group Inc. have become "very serious," according to one
person close to the matter.  The source, however, told the Journal
the talks remain sensitive and it is just as likely the
discussions will fall apart as result in a done deal.  The person
also said any transaction would be an all-stock merger, with
United being the surviving entity.  The Journal relates the share
premium to be paid to US Airways shareholders hasn't been settled.
The Journal also relates that another person familiar with the
talks said the two sides haven't yet agreed who would run the
combination.

The Journal also reports that if the deal comes to fruition, it
would be announced within two or three weeks.  A third person
close to the situation, according to the Journal, suggested that
Glenn Tilton, UAL's chief executive officer, recently restarted
the talks, not his counterpart at US Airways, Doug Parker.

The Journal says Chicago-based United, the third-largest U.S.
airline by traffic, declined to comment. US Airways, No. 6 and
based in Tempe, Ariz., also had no comment.  A merger deal would
create the second largest U.S. airline by traffic after Delta Air
Lines Inc.

The Journal also relates that a wild card is what Continental
might do if it is threatened with becoming a very distant No. 4 in
the airline pecking order.  The Journal says some analysts believe
the United Airlines-US Airways talks became public as a way to
pressure Continental to return to the bargaining table with
United.  Continental, which now has a marketing alliance with
United and is a member of the global Star Alliance group that
includes US Airways, declined to comment.

The Journal also relates that AMR Corp.'s CEO, Gerard Arpey, last
week said he doesn't believe a United-US Airways merger would be a
problem for his carrier, the No. 2 by traffic.  Although fewer
airlines probably would be better, the Journal relates Mr. Arpey
said, "I don't think necessarily consolidation is the answer to
all the economic challenges the industry faces.  I don't think
it's a silver bullet."

                      About UAL Corporation

Based in Chicago, Illinois, UAL Corporation (NASDAQ: UAUA) --
http://www.united.com/-- is the holding company for United
Airlines, Inc.  United Airlines is the world's second largest air
carrier.  The airline flies to Brazil, Korea and Germany.

The company filed for Chapter 11 protection on Dec. 9, 2002
(Bankr. N.D. Ill. Case No. 02-48191).  James H.M. Sprayregen,
Esq., Marc Kieselstein, Esq., David R. Seligman, Esq., and Steven
R. Kotarba, Esq., at Kirkland & Ellis, represented the Debtors in
their restructuring efforts.  Fruman Jacobson, Esq., at
Sonnenschein Nath & Rosenthal LLP represented the Official
Committee of Unsecured Creditors.  Judge Eugene R. Wedoff
confirmed a reorganization plan for United on Jan. 20, 2006.  The
Company emerged from bankruptcy on Feb. 1, 2006.

Reorganized UAL Corp. carries a 'Caa1' probability of default
rating from Moody's, 'B-' long term foreign issuer credit rating
from Standard & Poor's, and 'CCC' long term issuer default rating
from Fitch.

                        About US Airways

US Airways -- http://www.usairways.com/-- along with US Airways
Shuttle and US Airways Express, operates more than 3,000 flights
per day and serves more than 190 communities in the U.S., Canada,
Mexico, Europe, the Middle East, the Caribbean, Central and South
America.

Under a Chapter 11 plan declared effective on March 31, 2003,
USAir emerged from bankruptcy with the Retirement Systems of
Alabama taking a 40% equity stake in the deleveraged carrier in
exchange for $240 million infusion of new capital.

US Airways and its subsidiaries filed another Chapter 11 petition
on September 12, 2004 (Bankr. E.D. Va. Case No. 04-13820).  Brian
P. Leitch, Esq., Daniel M. Lewis, Esq., and Michael J. Canning,
Esq., at Arnold & Porter LLP, and Lawrence E. Rifken, Esq., and
Douglas M. Foley, Esq., at McGuireWoods LLP, represented the
Debtors in their restructuring efforts.  The USAir II bankruptcy
plan became effective on September 27, 2005.  The Debtors
completed their merger with America West on the same date. (US
Airways Bankruptcy News; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).

                         *     *     *

As of December 31, 2009, US Airways had total assets of
$7,454,000,000, including $2,331,000,000 in total current assets,
against total current liabilities of $2,789,000,000 and total
noncurrent liabilities and deferred credits of $5,020,000,000,
resulting in $355,000,000 stockholders' deficit.

US Airways Group carries Moody's "Caa1" Long-Term rating, LT Corp.
family rating and probability of default rating.  Outlook is
negative.

US Airways Group carries Standard & Poor's "B-" LT Foreign Issuer
Credit rating and LT Local Issuer credit rating.  Outlook is also
negative.

US Airways Group carries Fitch's "CCC" LT Issuer default rating
and "C" Senior unsecured debt rating.  Outlook is also negative.


VIASPACE INC: Reports $2.9 Million Net Loss for 2009
----------------------------------------------------
VIASPACE Inc. reported financial results for the fourth quarter
and year ended December 31, 2009.

Total revenue for 2009 was $4.4 million, including $3.6 million
from Inter-Pacific Arts and $701,000 from government contracts for
security products, compared to total revenue of $1.2 million in
2008, including $866,000 from the late-2008 acquisition of IPA and
$225,000 from government contracts for security products.  Gross
profit for 2009 was $1.7 million, including $1.6 million from IPA,
compared to gross profit of $665,000 in 2008, which included
$617,000 from IPA.  2008 financial contributions from IPA, which
was acquired on October 21, 2008, reflect partial-period
accounting.

Total operating expenses for the year were $4.4 million, including
$1,721,000 of stock-based compensation expense. Total operating
expenses for 2008 were $9.3 million and included $3,045,000 in
stock-based compensation expense.  Operating loss in 2009 was
$2.7 million, compared to an operating loss of $8.6 million in
2008.

For 2009, other expense was $194,000 compared to other income of
$224,000 in 2008.

Net loss for 2009 was $2.9 million, including a $12,000 gain from
discontinued operations, compared to a net loss in 2008 of
$9.8 million, which included a $1.4 million loss from discontinued
operations and a $42,000 loss from noncontrolling interests.

Consolidated cash and cash equivalents were $1.1 million on
December 31, 2009.

VIASPACE Chief Executive Dr. Carl Kukkonen commented: "2009
results reflect the impact of the acquisition of IPA on revenues,
compared to a year ago.  We have also substantially reduced our
operating expenses.  This has led to a substantially narrower loss
compared to 2008.  Negotiations toward closing the acquisition of
IPA are nearing completion with draft documents being exchanged."

Total revenues for the fourth quarter were $851,000, including
$683,000 from IPA, compared to total revenues of $1,042,000, which
included $866,000 from IPA, in fourth-quarter 2008.  Gross profit
for the quarter was $310,000, including $306,000 from IPA,
compared to gross profit of $630,000, including $617,000 from IPA,
for fourth-quarter 2008.

Total operating expenses for the fourth quarter were $1.1 million,
including $283,000 of stock-based compensation expense.  Total
operating expenses for fourth-quarter 2008 were $2.8 million and
included $497,000 of stock-based compensation expense.  Operating
loss for the quarter was $758,000, compared to an operating loss
of $2.2 million in fourth-quarter 2008.

For the quarter, other expense was $79,000 compared to other
income of $10,000 in fourth-quarter 2008.

Net loss for the quarter was $839,000, or less than $(0.01) per
share, compared to a net loss of $2.1 million, or less than
$(0.01) per share for fourth-quarter 2008.

At December 31, 2009, the Company had total assets of
$18.925 million, including $4.433 million in total current assets,
against total liabilities, all current, of $6,713,000.  At
December 31, 2009, stockholders' equity was $12.212 million.

In its March 30, 2010 report, Goldman Parks Kurland Mohidin LLP in
Encino, California, raised substantial doubt about the Company's
ability to continue as a going concern.  The auditor said the
Company has suffered recurring losses from operations.  In
addition, at December 31, 2009, the Company has a negative working
capital of $2.280 million and an accumulated deficit of
$32.730 million.

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?5fc0

A full-text copy of the Company's earnings release is available at
no charge at http://ResearchArchives.com/t/s?5fc1

                        About VIASPACE Inc.

Irvine, Calif.-based VIASPACE Inc. (OTC Bulletin Board: VSPC -
News) -- http://www.VIASPACE.com/-- is a clean energy company
providing products and technology for renewable and alternative
energy that reduce or eliminate dependence on fossil and high-
pollutant energy sources.  Through its majority-owned subsidiary
VIASPACE Green Energy Inc., the Company grows Giant King Grass as
a low carbon fuel for electricity generating power plants and as a
feedstock for cellulosic biofuels.


VISTEON CORP: Creditors Want Plan Exclusivity Ended
---------------------------------------------------
The Official Committee of Unsecured Creditors in Visteon Corp.'s
cases asks Judge Christopher S. Sontchi of the U.S. Bankruptcy
Court for the District of Delaware to terminate Visteon
Corporation and its debtor affiliates' exclusive periods to file
and solicit votes for their Chapter 11 plan of reorganization.

Gregory A. Taylor, Esq., at Ashby & Geddes, P.A., in Wilmington,
Delaware -- gtaylor@ashby-geddes.com -- relates that not so long
ago, the Debtors were lauding the "stand still agreement" they
reached with the Creditors Committee, Ford Motor Company, and the
holders of Visteon's prepetition secured term loan debt to allow
each of the parties the opportunity to explore alternative plan
structures from the Initial Plan, which provided no recovery for
unsecured creditors and distributed virtually all of the equity
in the reorganized debtors to the Term Lenders.

The "stand still agreement" included a stipulation among the
parties assenting to an extension of the Debtors' Exclusive Plan
Filing Period through March 16, 2010.

As detailed in the Debtors' March 2010 Reorganization Status
Report, significant efforts have been expended by certain holders
of the Debtors' unsecured notes toward an alternative plan of
reorganization predicated on a large, backstopped rights offering
that has the widespread support of the Debtors' unsecured
creditors, Mr. Taylor notes.

"Conspicuously absent in the March Status Report is any
explanation or justification of how the Debtors, despite the
'stand still agreement' and without any advance notice to the
Creditors Committee or the Noteholders, made an abrupt about-
face, aligned themselves again solely with the Term Lenders and
filed the First Amended Joint Plan of Reorganization of Visteon
Corporation and its Debtor Affiliates pursuant to Chapter 11 of
the United States Bankruptcy Code, dated March 15, 2010 . . . on
the eve of the expiration of their plan-filing Exclusive Period
and two business days after the objection deadline for the Second
Exclusivity Motion," Mr. Taylor asserts, on behalf of the
Creditors Committee.

Mr. Taylor contends that under the circumstances and given the
unsecured creditor community's deep dissatisfaction and
opposition to the Initial Plan, the timing of filing of the
Amended Plan and related Plan Support Agreement smacks of ambush,
and seems designed to give an unfair head start to the Amended
Plan.  The Amended Plan filed by the Debtors, he points out, will
likely lead to a protracted confirmation battle that could be
avoided by allowing for parallel path plans.

The Amended Plan provides for all secured and unsecured debt to
be converted to equity so that the Debtors would have virtually
no debt at exit.  This structure, according to Mr. Taylor, gives
substantially all of the equity at 85% to the Term Lenders, and
ignores the substantial cash on the balance sheet and clear
capability of the Debtors to service a reasonable amount of debt
going forward.

"Under the Amended Plan, the Debtors are purposely ignoring their
ample ability to pay down, refinance or reinstate their
prepetition term loan, and thus preserve much greater value for
the Debtors' general unsecured claimants," he points out.

Competing plans are poised to be filed and should be parallel-
tracked, Mr. Taylor relates.  The Creditors Committee, he notes,
could be a proponent of the Rights Offering Plan or submit a Plan
predicated on reinstatement of the Term Loan.

The Creditors Committee relates that it does not seek to stall
the Amended Plan.  Rather, it believes that terminating the
Debtors' Exclusivity to track competing plans side by side
promotes an efficient reorganization rather than allowing the
Debtors and Term Lenders' Amended Plan to have a head start that
will necessitate a costly confirmation battle.

"Avoiding a confirmation battle by permitting an alternative plan
to proceed on a parallel track will facilitate moving the
Debtors' cases forward and, among other issues presented, is
sufficient cause to terminate Exclusivity," Mr. Taylor avers.

                       Alternative Plans

The Noteholders are finalizing the Rights Offering Plan, Mr.
Taylor notes.  Similarly, he says, the Creditors Committee is
finalizing the terms of an alternative plan that partially pays
down the Term Loan using the Debtors' excess cash and reinstates
the remainder.

Under either Alternative Plan, the Term Lenders will be
unimpaired and will not be a voting class.  Therefore, in
addition to providing better and fairer treatment to unsecured
creditors, the Alternative Plans provide a path to a quicker,
consensual confirmation by making the Term Lenders "irrelevant,"
Mr. Taylor emphasizes.

The Creditors Committee asserts that moving forward with the
Amended Plan alone will lead to a lengthy, heavily litigated
confirmation battle which will unnecessarily draw out these
cases.  On the other hand, terminating Exclusivity, the Committee
avers:

  (i) will facilitate moving the Debtors' cases forward;

(ii) will allow the voices of all creditors to be heard;

(iii) will level the playing field;

(iv) will save the Debtors' estates the unnecessary delay and
      administrative costs that would be expended prosecuting
      the contested confirmation of the Amended Plan;

  (v) will foster incentives to consensually negotiate between
      all of the parties-in-interest;

(vi) will give creditors an alternative and superior option to
      consider; and

(vii) will not prejudice the Debtors in their continued
      prosecution of the Amended Plan.

At the Creditors Committee's behest, the Court will hear the
Motion on April 13, 2010.

The Creditors Committee tells the Court that subject to further
deliberation and voting, it will seek to file an Alternative Plan
under seal prior to the hearing of its Exclusivity Termination
Motion.

                    About Visteon Corporation

Visteon Corporation is a leading global automotive supplier that
designs, engineers and manufactures innovative climate, interior,
electronic and lighting products for vehicle manufacturers. With
corporate offices in Van Buren Township, Mich. (U.S.); Shanghai,
China; and Chelmsford, UK; the company has facilities in 25
countries and employs approximately 29,500 people.

Headquartered in Van Buren Township, Michigan, Visteon Corporation
(NYSE: VC) -- http://www.visteon.com/-- is a global automotive
supplier that designs, engineers and manufactures innovative
climate, interior, electronic and lighting products for vehicle
manufacturers, and also provides a range of products and services
to aftermarket customers.  The company has corporate offices in
Van Buren Township, Michigan (U.S.); Shanghai, China; and Kerpen,
Germany.  It has facilities in 27 countries and employs roughly
35,500 people.  The Company has assets of US$4,561,000,000 and
debts of US$5,311,000,000 as of March 31, 2009.

Visteon Corporation and 30 of its affiliates filed for Chapter 11
protection on May 28, 2009, (Bank. D. Del. Case No. 09-11786
through 09-11818).  Judge Christopher S. Sontchi oversees the
Chapter 11 cases.  James H.M. Sprayregen, Esq., Marc Kieselstein,
Esq., and James J. Mazza, Jr., Esq., at Kirkland & Ellis LLP, in
Chicago, Illinois, represent the Debtors in their restructuring
efforts.  Laura Davis Jones, Esq., James E. O'Neill, Esq., Timothy
P. Cairns, Esq., and Mark M. Billion, Esq., at Pachulski Stang
Ziehl & Jones LLP, in Wilmington, Delaware, serve as the Debtors'
local counsel.  The Debtors' investment banker and financial
advisor is Rothschild Inc.  The Debtors' notice, claims, and
solicitation agent is Kurtzman Carson Consultants LLC.  The
Debtors' restructuring advisor is Alvarez & Marsal North America,
LLC.

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


VISTEON CORP: Equity Holders Want Sec. 1104(c)(2) Examiner
----------------------------------------------------------
The Ad Hoc Committee of Equityholders in the cases of Visteon
Corporation and its debtors affiliates asks Judge Sontchi to
direct the appointment of an examiner pursuant to Section
1104(c)(2) of the Bankruptcy Code.

The Ad Hoc Equity Committee elaborates that it seeks the
appointment of an examiner:

  (a) because the Debtors' estates appear to have significant
      value being squandered by the Debtors;

  (b) to shed sunlight and transparency to the Debtors'
      bankruptcy cases where the Debtors seem intent on
      squandering values while extinguishing equity; and

  (c) to provide equityholders and all parties-in-interest
      material information on whether the Debtors' management
      and directors carried out their fiduciary duties before
      and after the Petition Date for which the Debtors'
      management and directors want releases and exculpation.

Mary F. Caloway, Esq., at Buchanan Ingersoll & Rooney, in
Wilmington, Delaware -- mary.caloway@bipc.com -- attorney for the
Ad Hoc Equity Committee, asserts that the need for a bankruptcy
examiner is heightened particularly in light of the Acting U.S.
Trustee for the District of Delaware's recent denial of the
appointment of an official equity committee notwithstanding that:

    * the Debtors signed a Plan Support Agreement that
      effectively bars them from attempting to formulate a
      chapter 11 plan benefitting equity and includes a
      'fiduciary out' clause that actually prevents them from
      carrying out their fiduciary duties;

    * the Debtors' operating results are vastly exceeding their
      projections;

    * the unsecured bonds are trading at 95% and above par,
      depending on the particular bond issue, indicating an
      expected payment in full;

    * equity shares are trading at prices implying the market's
      view of the estates' combined value, with current equity
      market capitalization exceeding $200 million compared to
      only $9 million just prior to Visteon's release of
      quarterly earnings on February 26, 2010.

"Notably, upon information and belief, Visteon, its management,
and its directors did not support appointment of an official
equity committee," says Ms. Caloway.  "It is therefore plain that
no one in the case is carrying out fiduciary duties to
shareholders, especially the debtor-related officers of the
court," she avers.

Ms. Caloway relates that the Debtors filed a proposed Chapter 11
plan and accompanying Disclosure Statement on December 17, 2009.
Under the Initial Plan, virtually all equity in reorganized
Visteon or 96% of it was earmarked for the Debtors' secured
claimholders.  The Initial Plan further provided that the
remaining 4% in equity in reorganized Visteon would go to the
Pension Benefit Guaranty Corporation.  The Initial Plan provided
no recovery to other general unsecured claimholders or
equityholders.

The Debtors justified the cancellation of existing equity and the
lack of recovery for unsecured claimholders by painting a
conservative picture of future performance for the Company under
their Disclosure Statement, according to Ms. Caloway.  The
Debtors' projections, she maintains, bear no resemblance to their
actual performance and are not readily supportable by current
macroeconomic trends for the automotive industry.

Ms. Caloway adds that the Debtors filed their quarterly earnings
and Annual Report for the year ended December 31, 2009, which
revealed that the Debtors produced sales, gross margin, EBITDA,
and net income for 2009 materially higher than the forecast in
their Disclosure Statement filed only weeks before.  "The
contrast between the Disclosure Statement and the Annual Report
is striking," she notes.  The Company's Annual Report indicated
that cash on hand, which had been projected in the December 17,
2009 Disclosure Statement to be $777 million, actually totaled
$1.1 billion at December 31, 2009.

"Considering that the financial projections in the Disclosure
Statement, filed just two weeks prior to year-end, were prepared
with the benefit of having actual results for 50 of the 52 weeks
of 2009, the magnitude of the difference between actual fourth
quarter results and those implicit in and projected by the
Disclosure Statement's forecast is all the more troubling," Ms.
Caloway contends.

Moreover, the Debtors' January and February Monthly Operating
Reports demonstrate that the Debtors' financial performance
continues to improve, according to Ms. Caloway.

In a tacit acknowledgment that the recoveries in the Initial Plan
were unfair to its creditors and based on an artificially low
valuation of the Company, on March 15, 2010, the Debtors filed
their first Amended Plan and accompanying Disclosure Statement.
Pursuant to the Amended Plan, virtually all equity in reorganized
Visteon or 85% was earmarked for the Debtors' secured
claimholders, and the remaining 15% in equity for the unsecured
claimholders.

"Once again, the equityholders would receive nothing, and the
value of the below market interest rate on the secured debt would
be eliminated," Ms. Caloway avers.

In light of the disparities between Debtors' artificially low
projections and reality, the Ad Hoc Equity Committee relates that
it has attempted, on numerous occasions, to meet with the Visteon
Board of Directors to discuss revisions to the Debtors' Chapter
11 plan that would reflect the Company's actual performance and
true value.  Despite those requests, however, the Board has
refused to meet with the Ad Hoc Equity Committee, Ms. Caloway
reports.

Moreover, Ms. Caloway tells Judge Sontchi, communications with
certain members of management have been unproductive, leaving the
Ad Hoc Equity Committee to question whether and why the Debtors
are ignoring their owners while depressing their stated value to
justify unfair and inequitable recoveries for their secured
claimholders and wiping out current equity in the process.

Put simply, the sum of the Debtors' $1.1 billion cash on the
balance sheet as of December 31, 2009, their $915 million stake
in Halla Climate Control Corporation, and their overly
conservative valuation of the non-consolidated joint ventures is
in excess of their estimated valuation in the Amended Plan,
before including any value for Visteon's core business, Ms.
Caloway asserts.

Using a reasonable valuation of both the Debtors' non-
consolidated joint ventures and the Debtors' core business,
together with the Debtors' cash and the public market value of
Halla, would result in a total valuation well in excess of the
estimated $3.1 billion of total claims against the Company,
leaving significant value for shareholders, Ms. Caloway
emphasizes.

         Ad Hoc Equity Committee Seeks Shortened Notice

In a separate filing, the Ad Hoc Equity Committee asked the Court
to shorten notice of the Motion so that it will be heard on
April 13, 2010.

The Debtors opposed the Ad Hoc Equity Committee's request and
contended that while parties-in-interest are entitled to their
day in Court, no party should be able to rush into Court to
prosecute motions on a whim.  The Debtors assert that given the
importance of moving their cases toward confirmation, they should
not be forced to shift their attention from those intense
activities to defending against an Examiner Motion in a shortened
time frame.

Wilmington Trust FSB, as administrative agent under the Debtors'
senior secured term loan facility, also opposed the Motion to
Shorten.  The Prepetition Term Agent is concerned that the mere
granting of the request could be misconstrued in the markets as
implying that there is merit to the underlying Examiner Motion,
to the detriment of the Debtors' enterprise value.

Upon review, Judge Sontchi denied the Ad Hoc Equity Committee's
Motion to Shorten.

                     Shareholder Letters

Certain shareholders of the Debtors, from March 29, 2010 to
April 6, 2010, delivered to the Court separate letters regarding
the Debtors' bankruptcy proceedings.

David D. Boon recommends that an equity committee be established
to ensure that justice is observed in the treatment of all
stakeholders.

For his part, Josh Schwartz maintains that there appears to exist
a significant agency problem between the management and the
shareholders.  According to Mr. Schwartz, management appears to
no longer be representing the interest of shareholders.

Pedro Ramos says the common shareholders are the only parties in
the Debtors' bankruptcy case which have never received interest,
dividends or any other form of benefit and are the only parties
which are still under the risk of being left with nothing.

Bill Partin and Sergio Pereira relate that they look forward to
the display of fair and just treatment of all shareholder and
creditors as the Debtors emerge from bankruptcy.

                    About Visteon Corporation

Visteon Corporation is a leading global automotive supplier that
designs, engineers and manufactures innovative climate, interior,
electronic and lighting products for vehicle manufacturers. With
corporate offices in Van Buren Township, Mich. (U.S.); Shanghai,
China; and Chelmsford, UK; the company has facilities in 25
countries and employs approximately 29,500 people.

Headquartered in Van Buren Township, Michigan, Visteon Corporation
(NYSE: VC) -- http://www.visteon.com/-- is a global automotive
supplier that designs, engineers and manufactures innovative
climate, interior, electronic and lighting products for vehicle
manufacturers, and also provides a range of products and services
to aftermarket customers.  The company has corporate offices in
Van Buren Township, Michigan (U.S.); Shanghai, China; and Kerpen,
Germany.  It has facilities in 27 countries and employs roughly
35,500 people.  The Company has assets of US$4,561,000,000 and
debts of US$5,311,000,000 as of March 31, 2009.

Visteon Corporation and 30 of its affiliates filed for Chapter 11
protection on May 28, 2009, (Bank. D. Del. Case No. 09-11786
through 09-11818).  Judge Christopher S. Sontchi oversees the
Chapter 11 cases.  James H.M. Sprayregen, Esq., Marc Kieselstein,
Esq., and James J. Mazza, Jr., Esq., at Kirkland & Ellis LLP, in
Chicago, Illinois, represent the Debtors in their restructuring
efforts.  Laura Davis Jones, Esq., James E. O'Neill, Esq., Timothy
P. Cairns, Esq., and Mark M. Billion, Esq., at Pachulski Stang
Ziehl & Jones LLP, in Wilmington, Delaware, serve as the Debtors'
local counsel.  The Debtors' investment banker and financial
advisor is Rothschild Inc.  The Debtors' notice, claims, and
solicitation agent is Kurtzman Carson Consultants LLC.  The
Debtors' restructuring advisor is Alvarez & Marsal North America,
LLC.

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


VISTEON CORP: Proposes to Sell Two Plants to JCI for $17-Mil.
-------------------------------------------------------------
Visteon Corporation and its debtor affiliates seek authority from
the U.S. Bankruptcy Court for the District of Delaware to sell
two of their facilities that manufacture parts for Chrysler LLC,
to affiliates of Johnson Controls Inc., for $17,086,475.

Specifically, Debtor VC Regional Assembly & Manufacturing, LLC,
specifically seeks the sell certain assets located at Highland
Park, Michigan, to Johnson Controls Interiors LLC; and non-debtor
Visteon subsidiary Carplastic S.A. de C.V. seeks to sell certain
assets located at Saltillo, Mexico, to Johnson Controls
Automotriz Mexico, S. de R.L. de C.V.

The Debtors aver that the proposed sale continues their
realignment of their business relationship with Chrysler in
furtherance of their long-term business plan.

Pursuant to a previous Court-approved accommodation agreement
between the Debtors and Chrysler, Chrysler agreed to resource
certain interior component parts production lines that are no
longer beneficial to the Debtors, including all Chrysler
component production at the Sale Plants.

                          Private Sale

Mark M. Billion, Esq., at Pachulski Stang Ziehl & Jones LLP, in
Wilmington, Delaware -- mbillion@pszjlaw.com -- tells the Court
that the Debtors have solicited bids with respect to a
substantial portion of the Assets for sale in late 2009.  He
notes that despite receiving bids from six potential purchasers,
none of the bids met the minimum bid threshold established under
the Chrysler Accommodation Agreement to permit the sale of those
assets.

Because the Assets for sale have previously been marketed, the
Debtors believe they will not obtain a higher and better bid by
an auction.  The Debtors thus propose to sell the Assets to
Johnson Controls without conducting a public auction at this time
to avoid the associated costs and delay.

                    Assumption and Assignment

As part of the proposed asset sale, the parties contemplate the
assumption and assignment of certain contracts by the Debtors to
Johnson Controls.

The Debtors believe that it is necessary to establish an orderly
and fair process by which they and the contract counterparties
can establish cure amounts necessary to be paid under Section 365
of the Bankruptcy Code, and by which contract counterparties can
seek additional information regarding adequate assurance of
future performance on the contracts:

  (a) Scheduled Contracts: No later than March 25, 2010, VC
      Regional Assembly will serve a notice on each non-debtor
      counterparty to a contract identified to be assumed.

  (b) Delayed Contracts: On or before April 29, 2010, Johnson
      Controls may designate new contracts to be assumed by VC
      Regional Assembly and assigned to it.  Within five days
      after the receipt of a Contract Designation Notice, VC
      Regional Assembly will serve a Cure Notice on each
      Contract Counterparty to a Delayed Contract notifying that
      Contract Counterparty of its intent to assume and assign
      the applicable Scheduled Contract.

  (c) Cure Objections: Any Contract Counterparty seeking to (i)
      assert Cure Amount based on defaults, conditions, or
      pecuniary losses under an Assigned Contract different from
      that set forth on the applicable Cure Notice, or (ii)
      object to the planned assumption and assignment on any
      other grounds will be required to file and serve a written
      objection setting forth with specificity (a) any and all
      Cure Amounts that the Contract Counterparty asserts must
      be cured or satisfied with respect to any Assigned
      Contract set forth on the Cure Notice, (b) if the
      objection to the potential assignment of that Assigned
      Contract is based on issues regarding adequate assurance
      of future performance, what information with respect to
      Buyer that Contract Counterparty requires to satisfy its
      adequate assurance concerns, or (c) the basis for an
      objection on any other grounds.

  (d) Assigned Contract Cure Objection Deadline: A Cure
      Objection must be filed with the Court no later than 10
      calendar days from the date of service of a Cure Notice.

  (e) Resolution of Cure Objections Based Upon the Proposed Cure
      Amount:  If a Contract Counterparty timely files a Cure
      Objection that solely alleges that a Cure Amount other
      than the amount set forth in the Cure Notice must be paid
      pursuant to Section 365 of the Bankruptcy Code in order to
      assume and assign the relevant Assigned Contracts, those
      Assigned Contracts will nevertheless be assumed and
      assigned to Johnson Controls on the later of (i) the
      Closing Date, and (ii) the Cure Objection Deadline.
      Johnson Controls will pay the undisputed portion of the
      Cure Amount.  To resolve the disputed Cure Amount, the
      parties will negotiate in good faith to resolve that
      objection and upon resolution of that Cure Objection will
      enter into a written stipulation, which stipulation need
      not be filed with or approved by the Court.  In the event
      the parties determine that the Cure Objection cannot be
      resolved without judicial intervention, the parties will
      deliver a notice to the objecting Contractparty and the
      Cure Amount will be determined by the Court at the next
      omnibus hearing.

  (f) Failure to File a Cure Objection: Unless a Cure Objection
      objecting to the assumption and assignment of an Assigned
      Contract on a basis other than the proposed Cure Amount is
      timely filed by the Cure Objection Deadline, and subject
      to the Court's entry of the Order, that Assigned Contract
      will be deemed to be assumed by VC Regional Assembly and
      assigned to Johnson Controls as of the later of (i) the
      Closing Date and (ii) the Cure Objection Deadline.

  (g) Waiver of a Cure Objection: Contract Counterparties that
      fail to file a Cure Objection will be deemed to have
      waived and released any and all cure obligations and will
      be forever barred and estopped from asserting or claiming
      against the Debtors, Buyer, or any other assignee of the
      relevant Assigned Contract that any additional amounts are
      due or defaults exist, or prohibitions or conditions to
      assignment exist or must be satisfied, under that Assigned
      Contract for the period prior to the assumption and
      assignment of that Assigned Contract.

A full-text copy of the Visteon-JCI Purchase Agreement is
available for free at:

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

The Court will hold a hearing on the Sale Motion on April 13,
2010.

Subsequently, the Debtors notified parties-in-interest on
March 25, 2010, that they have served an Executory Contract
Assumption and Cure Notice on Oakland Park L.L.C. IX and City of
Highland Park Michigan, a copy of which is available for free at:

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

               Debtors to File Schedules Under Seal

In a related development, the Debtors seek the Court's authority
to file under seal disclosure schedules related to the Purchase
Agreement.  The Debtors assert that that disclosure schedules
contain certain pricing information that, if revealed to their
competitors, may give those competitors an advantage in the
marketplace to their detriment.  Additionally, the Debtors note,
the disclosure schedules contain certain personal information
related to employees of the Seller, including information
regarding grievances and ongoing proceedings, that would, if
disclosed, harm employee relations and potentially violate
employee confidence.

                    About Visteon Corporation

Visteon Corporation is a leading global automotive supplier that
designs, engineers and manufactures innovative climate, interior,
electronic and lighting products for vehicle manufacturers. With
corporate offices in Van Buren Township, Mich. (U.S.); Shanghai,
China; and Chelmsford, UK; the company has facilities in 25
countries and employs approximately 29,500 people.

Headquartered in Van Buren Township, Michigan, Visteon Corporation
(NYSE: VC) -- http://www.visteon.com/-- is a global automotive
supplier that designs, engineers and manufactures innovative
climate, interior, electronic and lighting products for vehicle
manufacturers, and also provides a range of products and services
to aftermarket customers.  The company has corporate offices in
Van Buren Township, Michigan (U.S.); Shanghai, China; and Kerpen,
Germany.  It has facilities in 27 countries and employs roughly
35,500 people.  The Company has assets of US$4,561,000,000 and
debts of US$5,311,000,000 as of March 31, 2009.

Visteon Corporation and 30 of its affiliates filed for Chapter 11
protection on May 28, 2009, (Bank. D. Del. Case No. 09-11786
through 09-11818).  Judge Christopher S. Sontchi oversees the
Chapter 11 cases.  James H.M. Sprayregen, Esq., Marc Kieselstein,
Esq., and James J. Mazza, Jr., Esq., at Kirkland & Ellis LLP, in
Chicago, Illinois, represent the Debtors in their restructuring
efforts.  Laura Davis Jones, Esq., James E. O'Neill, Esq., Timothy
P. Cairns, Esq., and Mark M. Billion, Esq., at Pachulski Stang
Ziehl & Jones LLP, in Wilmington, Delaware, serve as the Debtors'
local counsel.  The Debtors' investment banker and financial
advisor is Rothschild Inc.  The Debtors' notice, claims, and
solicitation agent is Kurtzman Carson Consultants LLC.  The
Debtors' restructuring advisor is Alvarez & Marsal North America,
LLC.

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


WASHINGTON MUTUAL: Probe Faults OTS, FDIC Over Collapse
-------------------------------------------------------
The New York Times' Sewell Chan reports that a federal
investigation has concluded regulators failed for years to
properly supervise Washington Mutual, even as the company wobbled
under the weight of risky subprime mortgages.  According to NY
Times, the investigation found that the two agencies that oversaw
WaMu feuded so much that they could not even agree to deem the
company "unsafe and unsound" until September 18, 2008.

NY Times says the report was prepared by the inspectors general
for the Treasury Department and the Federal Deposit Insurance
Corporation.  It is expected to be released Friday.  A draft was
obtained by NY Times.  The report says the release of the
investigation coincides with hearings this week by the Senate
subcommittee on investigations, which is treating Washington
Mutual as a case history of the financial crisis.

NY Times relates that based on research conducted from March to
November 2009, the report examines the conduct of the bank's
primary regulator, the Office of Thrift Supervision, an
independent arm of the Treasury that regulates savings
associations, and the FDIC, which insured the institution's
deposits.

According to NY Times, the report found that WaMu had failed
primarily "because of management's pursuit of a high-risk lending
strategy that included liberal underwriting standards and
inadequate risk controls."  The strategy accelerated in 2005 and
came to a crashing end in 2007 with the drop in the housing
market.

NY Times says that probe indicated that the FDIC, which had
questioned the OTS' assessments of the bank's soundness, could
have stepped in earlier and acted as the primary regulator, but
decided "it was easier to use moral suasion to attempt to convince
the O.T.S. to change its rating."

NY Times also relates that the WaMu report could also influence
the work of the Financial Crisis Inquiry Commission, created by
Congress to investigate the financial disaster.

                      About Washington Mutual

Based in Seattle, Washington, Washington Mutual Inc. --
http://www.wamu.com/-- is a holding company for Washington Mutual
Bank as well as numerous non-bank subsidiaries.  The Company
operates in four segments: the Retail Banking Group, which
operates a retail bank network of 2,257 stores in California,
Florida, Texas, New York, Washington, Illinois, Oregon, New
Jersey, Georgia, Arizona, Colorado, Nevada, Utah, Idaho and
Connecticut; the Card Services Group, which operates a nationwide
credit card lending business; the Commercial Group, which conducts
a multi-family and commercial real estate lending business in
selected markets, and the Home Loans Group, which engages in
nationwide single-family residential real estate lending,
servicing and capital markets activities.

Washington Mutual Bank was taken over September 25 by U.S.
government regulators.  The next day, WaMu and its affiliate, WMI
Investment Corp., filed separate petitions for Chapter 11 relief
(Bankr. D. Del. 08-12229 and 08-12228, respectively).  Wamu owns
100% of the equity in WMI Investment.  Weil Gotshal & Manges
represents the Debtors as counsel.  When WaMu filed for protection
from its creditors, it listed assets of $32,896,605,516 and debts
of $8,167,022,695.  WMI Investment listed assets of $500,000,000
to $1,000,000,000 with zero debts.

Peter Calamari, Esq., and David Elsberg, Esq., at Quinn Emanuel
Urquhart Oliver & Hedges, LLP served as legal counsel to WMI with
responsibility for the litigation.  Brian Rosen, Esq., at Weil,
Gotshal & Manges LLP served as legal counsel to WMI with
responsibility for the chapter 11 case.

Bankruptcy Creditors' Service Inc. publishes Washington Mutual
Bankruptcy News.  The newsletter tracks the Chapter 11 proceedings
of Washington Mutual Inc. (http://bankrupt.com/newsstand/or
215/945-7000).


WII COMPONENTS: Swings to $15,183,000 Net Loss for 2009
-------------------------------------------------------
WII Components, Inc., filed with the Securities and Exchange
Commission its annual report on Form 10-K for the year ended
December 31, 2009.  The Company swung to a net loss of $15,183,000
for 2009 from net earnings of $1,316,000 for 2008 and $3,041,000
for 2007.  Net sales were $130,455,000 for 2009 from $193,373,000
for 2008 and $249,303,000 for 2007.

At December 31, 2009, the Company had $203,077,000 in total assets
against total current liabilities of $19,929,000, long-term debt -
net of current maturities of $108,350,000, deferred income taxes
of $3,174,000, and other long-term liabilities of $2,324,000,
resulting in stockholders' equity of $69,300,000.

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?5fd2

In April 2009, Standard & Poor's Ratings Services withdrew its
ratings on St. Cloud, Minnesota-based WII Components Inc.,
including its 'CCC+' corporate credit and senior unsecured debt
ratings, at the company's request.

In May 2009, Moody's Investors Service withdrew all of the ratings
on WII Components Inc. for business reasons.  These ratings were
withdrawn: Caa1 - Corporate family rating; Caa1 - Probability of
default rating; and B3 (LGD3-34%) rating on the Senior Unsecured
Notes, due 2012.  The last rating action on WII Components was the
downgrade of the corporate family rating to Caa1 from B2 on
February 2, 2009.

WII Components Inc. manufactures hardwood cabinet doors and
related components in the United States, selling primarily to
kitchen and bath cabinet original equipment manufacturers.


WILLBROS UNITED: Moody's Assigns 'B2' Corporate Family Rating
-------------------------------------------------------------
Moody's Investors Service assigned first-time ratings to Willbros
United States Holdings, Inc., including a B2 corporate family
rating, B2 probability of default rating, B2 senior secured rating
and a SGL-3 speculative-grade liquidity rating.  Willbros plans to
use the proceeds from its proposed bank facilities to partially
finance the acquisition of InfrastruX Group, Inc and refinance a
portion of its existing indebtedness.  The ratings outlook is
stable.

Assignments:

Issuer: Willbros United States Holdings Inc.

  -- Corporate Family Rating, Assigned B2
  -- Probability of Default Rating, Assigned B2
  -- $175 million Senior Secured Revolver, Assigned B2, LGD3, 44%
  -- $300 million Senior Secured Term Loan, Assigned B2, LGD3, 44%
  -- Speculative Grade Liquidity Rating, Assigned SGL-3

Willbros' B2 corporate family rating is strongly influenced by its
concentration of activity providing engineering and construction
services to cyclical oil and gas markets within North America.
The acquisition of InfrastruX is the latest of several measures
that the company has undertaken to improve its diversification
characteristics, however the combined company is likely to
continue experiencing top line pressures through the first half of
2010 in Moody's opinion.  Improvement in Willbros' results seems
likely beyond that timeframe given an increasingly active bidding
environment and strengthening demand for InfrastruX's services
under its master service agreements.  Willbros' established market
position and significant experience with blue chip customers
should enable it to capitalize on the return of positive volumes,
particularly within its pipeline construction business.  Booking
trends however have been weak in recent quarters, indicating
uncertainty over pace at which this improvement may occur.  The
competitive environment has also intensified through the downturn
as industry capacity has increased.  Moody's remains cautious with
respect to future profitability levels given the industry's return
to fixed price contracts where contractors are exposed to greater
amounts of risk.

Moody's expects that Willbros' adjusted leverage (Debt/ EBITDA) is
likely to remain in excess of 4x through much of 2010.  Willbros'
initial cash balances and revolver capacity provide adequate
liquidity to fund a modest amount expected cash consumption and
contingent debt repayments, which supports its SGL-3 liquidity
rating.  Financial covenants however could become tight towards
the end of 2010 in the event that earnings improvement is delayed
from Moody's current expectations.

The stable ratings outlooks reflect Moody's expectations that
pressure on the company's earnings are likely to persist through
the first half of 2010, beyond which time Willbros' key credit
metrics should begin to steadily improve at a pace that solidifies
its positioning within its rating category.

Sustained metrics associated with an upgrade would include
Debt/EBITDA below 3.5x and EBITA/ Interest in excess of 2x.
Sustained metrics associated with a ratings downgrade would
include Debt/EBITDA above 4.5x and EBITA/ Interest below 1.5x.
Downward rating pressure would also arise should it become evident
that the company would have difficulty maintaining an adequate
liquidity position.

Headquartered in Houston, Texas, Willbros United States Holdings
Inc is a wholly-owned subsidiary of publicly traded Willbros
Group, Inc.  The companies provide engineering and construction
services to the oil, gas and power industries.  Pro-forma for the
acquisition of InfrastruX, revenues totaled approximately
$1.9 billion in 2009.


WILLBROS GROUP: S&P Assigns 'BB-' Corporate Credit Rating
---------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BB-' corporate
credit rating to Willbros Group Inc.  The outlook is stable.

Based on preliminary terms and conditions, S&P assigned a 'BB-'
issue-level rating (the same as the corporate credit rating) and a
'3' recovery rating to Willbros' proposed $175 million revolving
credit facility and $300 million term loan.  This indicates S&P's
expectation for meaningful (50%-70%) recovery in the event of a
payment default.

Willbros will fund its proposed acquisition of InfrastruX Group
Inc. with a $300 million term loan due April 2014, approximately
$87 million in cash and $120 million of new Willbros equity.  The
company will use proceeds to acquire InfrastruX for $480 million,
about a 7.5x multiple of InfrastruX 2010 estimated EBITDA, and to
pay fees and expenses.  The purchase price may include up to an
additional $125 million of contingent consideration, if the
company achieves specific EBITDA targets for 2010 and 2011.  The
company will also enter into a $175 million revolving credit
facility, which it expects will be unfunded at closing.  The
company expects the transaction to close during the second quarter
of 2010.

"The ratings on Willbros reflect the company's weak business risk
profile and significant financial risk profile," said Standard &
Poor's credit analyst Robyn Shapiro.  With 2009 revenues of about
$1.3 billion, Houston-based Willbros provides engineering,
construction, maintenance and life-cycle extension services in
three markets: hydrocarbon infrastructure, including natural gas
pipelines; refining and processing plants; and the North American
electric power transmission and distribution market, with the
proposed acquisition of InfrastruX.  This acquisition is
consistent with the company's strategy to diversify its end
markets to compliment its upstream oil and gas business.  The
electric power T&D businesses would have accounted for 25% of
Willbros' pro forma 2009 revenues, while revenues from Willbros'
legacy upstream businesses would have accounted for 60% of pro
forma 2009 revenues (compared with 78% of actual 2009 revenues).
The company's downstream business would have accounted for 15% of
revenues.

S&P could raise the ratings if Willbros demonstrates a disciplined
financial policy and develops a track record of good cash flow
generation over several years.  S&P could lower the ratings if the
company's operating performance weakens meaningfully, or if it
pursues aggressive financial policies, causing credit protection
measures or liquidity to weaken.  For example, S&P could lower the
ratings if it appears likely that FFO to total debt will fall
below 20%.


WISH I: Section 341(a) Meeting Scheduled for April 29
-----------------------------------------------------
The U.S. Trustee for Region 11 will convene a meeting of WISH I
LLC's creditors on April 29, 2010, at 1:30 p.m.  The meeting will
be held at 219 South Dearborn, Office of the U.S. Trustee, 8th
Floor, Room 804, Chicago, Illinois 60604.

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

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

Chicago, Illinois-based WISH I LLC filed for Chapter 11 bankruptcy
protection on March 25, 2010 (Bankr. N.D. Ill. Case No. 10-13076).
Bryan Minier, Esq., at Smith Amundsen LLC, assists the Company in
its restructuring effort.  The Company estimated its assets and
debts at $10,000,001 to $50,000,000.


WOODWORTHY, INC.: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Woodworthy, Inc.
        P.O. Box 1263
        Muskogee, OK 74402-1263
        918-687-1600

Bankruptcy Case No.: 10-80550

Chapter 11 Petition Date: April 6, 2010

Court: U.S. Bankruptcy Court
       Eastern District of Oklahoma (Okmulgee)

Judge: Tom R. Cornish

Debtor's Counsel: Ron Wright, Esq.
                  Wright, Stout & Wilburn
                  P.O. BOX 707
                  Muskogee, OK 74402
                  Tel: 918-682-0091
                  Fax: 918-683-6340
                  E-mail: ron@wsfw-ok.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 says that assets total
$1,052,245.86 while debts total $1,280,908.46.

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/okeb10-80550.pdf

The petition was signed by Ronnie Oliver, president.


* Company Credit Risk Index Falls as Wholesale Inventories Climb
----------------------------------------------------------------
Bloomberg News reported April 12 that Markit CDX North America
Investment Grade Index, a benchmark indicator of U.S. corporate
credit risk, fell April 9 for a second day as wholesale
inventories climbed to the highest level in more than a year in a
sign companies are increasing orders.  The index typically falls
as investor confidence improves and rises as it deteriorates.


* Junk Bonds Grab Record Share as Yields Tumble
-----------------------------------------------
Bloomberg News reports that junk bonds are making up the biggest
share of corporate debt sales on record as investors wagering on
an economic rebound snap up securities from even first-time
issuers.  Global high-yield bond sales reached $91.7 billion this
year, or 12% of total issuance, almost double last year's share,
according to data compiled by Bloomberg.  Bloomberg relates that
yields on the debt fell to within 5.83 percentage points of
Treasuries last week, about the lowest since December 2007 and
down from 6.66 percentage points at the end of 2009.  Economists
are boosting growth forecasts this year, and borrowing costs have
fallen to pre-credit crisis levels, reducing default risks.


* Large Companies With Insolvent Balance Sheets
-----------------------------------------------

                                                        Total
                                             Total     Share-
                                  Total    Working   Holders'
                                 Assets    Capital     Equity
   Company        Ticker          ($MM)      ($MM)      ($MM)
   -------        ------         ------    -------   --------
AUTOZONE INC      AZO US        5,425.0     (100.6)    (421.7)
SOUTHGOBI ENERGY  1878 HK         560.7      388.8       (2.8)
DUN & BRADSTREET  DNB US        1,749.4      (99.5)    (734.0)
MEAD JOHNSON      MJN US        2,070.3      235.9     (664.3)
NAVISTAR INTL     NAV US        9,126.0    1,277.0   (1,622.0)
INTERMUNE INC     ITMN US         114.7       59.5     (105.8)
TAUBMAN CENTERS   TCO US        2,606.9        -       (474.7)
BOARDWALK REAL E  BEI-U CN      2,378.3        -        (45.0)
BOARDWALK REAL E  BOWFF US      2,378.3        -        (45.0)
UNISYS CORP       UIS US        2,956.9      308.6   (1,271.7)
CHOICE HOTELS     CHH US          340.0       (3.9)    (114.2)
LINEAR TECH CORP  LLTC US       1,512.8      673.5     (114.3)
MOODY'S CORP      MCO US        2,003.3     (223.1)    (596.1)
DEX ONE CORP      DEXO US       4,498.8     (402.9)  (6,919.0)
WR GRACE & CO     GRA US        3,968.2    1,134.0     (290.5)
WEIGHT WATCHERS   WTW US        1,087.5     (336.1)    (733.3)
SUN COMMUNITIES   SUI US        1,181.4        -       (111.3)
CABLEVISION SYS   CVC US        9,325.7      (14.9)  (5,143.3)
PETROALGAE INC    PALG US           7.1       (9.8)     (43.8)
IPCS INC          IPCS US         559.2       72.1      (33.0)
DISH NETWORK-A    DISH US       8,295.3      188.7   (2,091.7)
UAL CORP          UAUA US      18,684.0   (1,368.0)  (2,811.0)
METALS USA HOLDI  MUSA US         627.8      279.1      (43.7)
HEALTHSOUTH CORP  HLS US        1,681.5       34.8     (510.2)
CHENIERE ENERGY   CQP US        1,859.5       37.3     (480.3)
NATIONAL CINEMED  NCMI US         628.2       92.8     (493.1)
REGAL ENTERTAI-A  RGC US        2,637.7       32.4     (246.9)
TEAM HEALTH HOLD  TMH US          940.9       17.4      (92.3)
SOUTHGOBI ENERGY  SGQ CN          560.7      388.8       (2.8)
VECTOR GROUP LTD  VGR US          735.5      240.2       (4.7)
VENOCO INC        VQ US           739.5      (20.6)    (174.5)
REVLON INC-A      REV US          794.2       94.3   (1,033.6)
EPICEPT CORP      EPCT SS           7.5       (6.5)      (9.1)
INCYTE CORP       INCY US         712.4      523.2     (102.4)
DOMINO'S PIZZA    DPZ US          453.8       59.2   (1,321.0)
TALBOTS INC       TLB US          839.7       (3.9)    (190.6)
ARVINMERITOR INC  ARM US        2,499.0       98.0   (1,112.0)
JUST ENERGY INCO  JE-U CN       1,387.1     (387.0)    (356.5)
THERAVANCE        THRX US         181.4      123.1     (189.0)
KNOLOGY INC       KNOL US         646.9       26.2      (33.9)
LIBBEY INC        LBY US          794.8      139.9      (66.9)
GRAHAM PACKAGING  GRM US        2,126.3      167.2     (763.1)
CARDTRONICS INC   CATM US         460.4      (47.3)      (1.3)
FORD MOTOR CO     F US        197,890.0   (8,112.0)  (6,515.0)
WORLD COLOR PRES  WC CN         2,641.5      479.2   (1,735.9)
WORLD COLOR PRES  WC/U CN       2,641.5      479.2   (1,735.9)
WORLD COLOR PRES  WCPSF US      2,641.5      479.2   (1,735.9)
PROTECTION ONE    PONE US         571.9      (18.4)     (59.1)
JAZZ PHARMACEUTI  JAZZ US         107.4      (22.3)     (72.8)
AFC ENTERPRISES   AFCE US         116.6       (2.7)     (18.2)
BLOUNT INTL       BLT US          483.6      149.5       (6.7)
UNITED RENTALS    URI US        3,859.0      244.0      (19.0)
EXTENDICARE REAL  EXE-U CN      1,668.1      122.8      (50.9)
AMER AXLE & MFG   AXL US        1,986.8       71.1     (559.9)
DEXCOM            DXCM US          46.9       18.1      (18.4)
CENVEO INC        CVO US        1,525.8      162.5     (176.5)
FORD MOTOR CO     F BB        197,890.0   (8,112.0)  (6,515.0)
SALLY BEAUTY HOL  SBH US        1,529.7      360.6     (580.2)
AMR CORP          AMR US       25,438.0   (1,086.0)  (3,489.0)
BLUEKNIGHT ENERG  BKEP US         310.7      (10.8)    (142.2)
CENTENNIAL COMM   CYCL US       1,480.9      (52.1)    (925.9)
GREAT ATLA & PAC  GAP US        3,025.4      248.7     (358.5)
QUALITY DISTRIBU  QLTY US         279.6       19.0     (138.9)
WARNER MUSIC GRO  WMG US        3,934.0     (599.0)     (97.0)
COMMERCIAL VEHIC  CVGI US         250.5       75.8      (37.8)
ACCO BRANDS CORP  ABD US        1,106.8      238.2     (117.2)
SANDRIDGE ENERGY  SD US         2,780.3       30.4     (195.9)
CALLON PETROLEUM  CPE US          228.0      (39.9)     (80.9)
EASTMAN KODAK     EK US         7,691.0    1,407.0      (33.0)
US AIRWAYS GROUP  LCC US        7,454.0     (458.0)    (355.0)
LIN TV CORP-CL A  TVL US          790.5       20.4     (169.2)
LODGENET INTERAC  LNET US         508.4       (4.9)     (71.0)
MANNKIND CORP     MNKD US         247.4        8.8      (59.2)
RURAL/METRO CORP  RURL US         275.4       35.2     (105.3)
ZYMOGENETICS INC  ZGEN US         319.3      110.1       (4.0)
PDL BIOPHARMA IN  PDLI US         338.4       22.3     (416.0)
EXELIXIS INC      EXEL US         343.4       22.9     (163.7)
NEXSTAR BROADC-A  NXST US         619.8       36.9     (176.3)
SINCLAIR BROAD-A  SBGI US       1,597.7       23.1     (202.2)
GENCORP INC       GY US         1,018.7      114.6     (268.0)
QWEST COMMUNICAT  Q US         20,380.0     (483.0)  (1,178.0)
NPS PHARM INC     NPSP US         159.6       71.3     (222.8)
PALM INC          PALM US       1,007.2      141.7       (6.2)
VIRGIN MOBILE-A   VM US           307.4     (138.3)    (244.2)
VIRNETX HOLDING   VHC US            2.2       (2.5)      (2.4)
CHENIERE ENERGY   LNG US        2,732.6      220.1     (432.1)
HOVNANIAN ENT-A   HOV US        2,100.2    1,222.4     (110.7)
CYTORI THERAPEUT  CYTX US          24.7        9.9       (3.7)
CC MEDIA-A        CCMO US      18,047.1    2,114.7   (6,844.7)
MAGUIRE PROPERTI  MPG US        3,667.7        -       (857.0)
CUMULUS MEDIA-A   CMLS US         334.1       (3.5)    (372.5)
NEWCASTLE INVT C  NCT US        3,514.6        -     (1,640.7)
DENNY'S CORP      DENN US         312.6      (33.8)    (127.5)
CONEXANT SYS      CNXT US         273.7       65.8      (66.7)
MONEYGRAM INTERN  MGI US        5,929.7     (174.2)     (18.7)
SEALY CORP        ZZ US         1,011.9      173.1      (92.3)
WAVE SYSTEMS-A    WAVX US           6.3       (2.0)      (1.9)
DYAX CORP         DYAX US          64.8       34.1      (38.6)
PRIMEDIA INC      PRM US          239.7       (3.3)    (102.2)
ARIAD PHARM       ARIA US          65.0        8.2      (89.0)
CINCINNATI BELL   CBB US        2,064.3       (2.8)    (654.6)
IDENIX PHARM      IDIX US          76.7       33.2       (5.5)
GLG PARTNERS-UTS  GLG/U US        500.8      167.4     (283.6)
GLG PARTNERS INC  GLG US          500.8      167.4     (283.6)
MAGMA DESIGN AUT  LAVA US         123.3       (3.4)      (7.2)



                           *********

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 ***