TCR_Public/100517.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

               Monday, May 17, 2010, Vol. 14, No. 135

                            Headlines

2401 W.: Voluntary Chapter 11 Case Summary
558/560LLC: Case Summary & 7 Largest Unsecured Creditors
ABITIBIBOWATER INC: Plan Exclusivity Extended to July 21
ACCREDITED HOME: Poised to File Plan with Lone Star Deal
AVAYA INC: Bank Debt Trades at 11% Off in Secondary Market

AVSTAR FUEL: Case Summary & 20 Largest Unsecured Creditors
BEDFORD TOWN: Utility's Demand Didn't Tie Bankr. Court's Hands
BIOFEST INTERNATIONAL: Files Plan of Reorganization
BLACK CROW: Wants Paul Stone's Lien in Cash Collateral Clarified
CAMP ARROWHEAD: Asset Buyers Were "Good Faith Purchasers"

CAMTECH PRECISION: Case Summary & 20 Largest Unsecured Creditors
CAPITAL GROWTH: Pivotal Global Acquires Defaulted Loan From ACF
CAPITAL GROWTH: Reports $2,047,000 Net Loss for March 31 Quarter
CAPITAL GROWTH: Wants to Issue 990-Mil. Shares; Mulls Name Change
CARY FREEMAN: Case Summary & 15 Largest Unsecured Creditors

CATALYST PAPER: To Sell US$110 Million in Class B 11% Notes
CATALYST PAPER: May Permanently Close Elk Falls Mill
CHARTER COMMS: Bank Debt Trades at 7% Off in Secondary Market
CHEM RX: Court Approves First-Day Motions
CHENIERE ENERGY: Delays Plan to Sell $1-Bil. in Securities

CHENIERE ENERGY: Reports $35,167,000 Net Loss for March 31 Qtr
CHENIERE ENERGY: Closes Sale of Freeport LNG Development
CHRYSLER LLC: Carco Estate Wants to Preserve Suit vs. Daimler
CLAIRE'S STORES: Bank Debt Trades at 15% Off in Secondary Market
CLEAR CHANNEL: Bank Debt Trades at 19% Off in Secondary Market

CLENDO LAB: Case Summary & 20 Largest Unsecured Creditors
COLUMBIA FEEDERS: Case Summary & 4 Largest Unsecured Creditors
COMMUNITY CENTRAL BANK: Defers Trust Preferred Interest Payments
COMMUNITY HEALTH: Bank Debt Trades at 4% Off in Secondary Market
COOPER-STANDARD: CSA Canada Has Order Sanctioning 2nd Amended Plan

COOPER-STANDARD: CSA Canada Receives June 7 CCAA Stay Extension
COOPER-STANDARD: CSA Canada Wants to Discharge Monitor from Duties
CULLIGAN INT'L: Bank Debt Trades at 17% Off in Secondary Market
DEX MEDIA WEST: Bank Debt Trades at 6% Off in Secondary Market
DIETRICH'S SPECIALTY: Case Summary & Creditors List

DREIER LLP: S.D.N.Y. Blocks Creditors' Derivative Claims
EINSTEIN NOAH: Board OKs Appointment of Manny Hilario as CFO
EINSTEIN NOAH: Reports Results of May 4 Annual Meeting
EINSTEIN NOAH: Reports $600,000 Net Income for 2010 First Quarter
EMERALD POINTE: Case Summary & 20 Largest Unsecured Creditors

EUFRESINA BOADO: Case Summary & 18 Largest Unsecured Creditors
EXTENDED STAY: Bidding For Assets Is Robust, Advisers Say
EXTENDED STAY: Seeks Nod for Investment Pact with Winning Bidder
EXTENDED STAY: Seeks Approval of Disclosure Statement
FAIRPOINT COMMS: Bank Debt Trades at 19% Off in Secondary Market

FORD MOTOR: Leads Industry in Perceived Quality Gains
FREESCALE SEMICON: Bank Debt Trades at 9% Off in Secondary Market
GALVESTON BAY: Voluntary Chapter 11 Case Summary
GENERAL MOTORS: Treasury Interviews Bankers to Advise on IPO
GRAY COMMS: Bank Debt Trades at 3% Off in Secondary Market

HARRAH'S ENTERTAINMENT: HOC Bank Debt Trades at 101.44%
HAWKER BEECHCRAFT: Bank Debt Trades at 16% Off in Secondary Market
HERCULES OFFSHORE: Bank Debt Trades at 5% Off in Secondary Market
HEXION SPECIALTY: Posts $7 Million Net Loss for 1st Quarter 2010
HEXION SPECIALTY: Launches Exchange Offer for Unregistered Notes

HICKS SPORTS: Yankees Lawyer Surprised on Lenders' Inaction
HYDROGEN LLC: Judge Gonzalez Tosses Deepening Insolvency Claim
INN AT MISSOURI: Asks for Court's Nod to Use Cash Collateral
INTELSAT SA: Reports $102.6 Million Net Loss for 1st Quarter 2010
INTELSAT SA: BC Partners, Silver Lake Funds to Sell $1.4BB Notes

J & P ACQUISITION: Case Summary & 12 Largest Unsecured Creditors
JOSEPH ROWAND: Case Summary & 6 Largest Unsecured Creditors
JOSHUA BLUM: Case Summary & 20 Largest Unsecured Creditors
JACKSON & PERKINS: Case Summary & 20 Largest Unsecured Creditors
JOSHUA FARMER: Files List of 20 Largest Unsecured Creditors

JPMCC 2002-CIBC4: Bankruptcy Filing to Stay Dillard's Suit
JT TRUCKING: Debtor's Principal Must Hire Separate Counsel
KIEBLER SLIPPERY: Files Schedules of Assets and Liabilities
KIM BRESKOW-ELLIOTT: Case Summary & 20 Largest Unsecured Creditors
KINETEX RESOURCES: Provides Default Status Report

LA BOTA: Gets Interim Okay to Use Bank Midwest's Cash Collateral
LAS VEGAS MONORAIL: Ambac & Regulator Appeal Chapter 11 Ruling
LAS VEGAS SANDS: Bank Debt Trades at 9% Off in Secondary Market
LEAP WIRELESS: Posts $68,034,000 Net Loss for 2010 First Quarter
LEHMAN BROTHERS: Judge Denies SunCal Bid to Pursue Suit

LEVEL 3 COMMS: Bank Debt Trades at 8% Off in Secondary Market
LOUIS PUGLIESE: Selling Sharpsburgh, Pa., Real Estate
LYONDELL CHEMICAL: AKzo to Stick With $73MM Environmental Claim
MAGNA ENTERTAINMENT: TrackNet Media Venture to be Dissolved
MARK MATOVICH: Case Summary & 20 Largest Unsecured Creditors

MARY TAPLETT: Voluntary Chapter 11 Case Summary
MERCER INTERNATIONAL: Files Copies of Presentation Materials
MESA AIR GROUP: Committee Wins OK for Macquarie as Fin'l Advisor
METRO-GOLDWYN-MAYER: Debt Trades at 56% Off in Secondary Market
MICHAELS STORES: Bank Debt Trades at 7% Off in Secondary Market

MIDDLEBROOK PHARMACEUTICALS: Has Contract to Sell Victory Pharma
MIDWEST BANK AND TRUST: Closed; Firstmerit Bank Assumes Deposits
MOVIE GALLERY: Selects Great American as Stalking Horse Bidder
MIDWAY GAMES: Wants More Exclusivity If Confirmation Fails
NEENAH ENTERPRISES: Governmental Unit Bar Date Set for August 6

NEIMAN MARCUS: Bank Debt Trades at 6% Off in Secondary Market
NEW LIBERTY BANK: Closed; Bank of Ann Arbor Assumes All Deposits
NEWLOOK INDUSTRIES: Can't File Audited Financial Statements
NEXHORIZON COMMUNICATIONS: Voluntary Chapter 11 Case Summary
NEXSTAR BROADCASTING: Swings to $3,673,000 Net Loss for Q1 2010

NEXSTAR BROADCASTING: Annual Stockholders' Meeting Set for May 27
NORT-E-QUIPO INC: Case Summary & 20 Largest Unsecured Creditors
NORTH POINTE PARK: Voluntary Chapter 11 Case Summary
NORTH POINTE: Case Summary & 3 Largest Unsecured Creditors
NOVASTAR FINANCIAL: Stockholders' Meeting Set for June 17

NY ASIAN SYMPHONY: Files for Chapter 7 Bankruptcy Liquidation
PASADENA PLAYHOUSE: Gen. Unsecured Claims Get Nothing Under Plan
PASADENA PLAYHOUSE: Voluntary Chapter 11 Case Summary
PATRICK OSGOOD: Voluntary Chapter 11 Case Summary
PCAA PARENT: Faces U.S. Trustee Objection to Releases

PETCO ANIMAL: Bank Debt Trades at 3% Off in Secondary Market
PHOENIX FOOTWEAR: Reports $440,000 Net Earnings for April 3 Qtr
PHOENIX FOOTWEAR: Won't Meet First Community Covenant for May
PHOENIX FOOTWEAR: Annual Stockholders' Meeting Set for June 3
PLASSEIN INT'L: D. Del. Says LBO Fees Not Avoidable

POINT BLANK: Gets Final Approval for $20 Million Loan
PTS CARDINAL: Bank Debt Trades at 6% Off in Secondary Market
R & J NATIONAL: Case Summary & 10 Largest Unsecured Creditors
RADLAX GATEWAY: Has Until June 9 to Propose Reorganization Plan
RADLAX GATEWAY: Has Until June 9 to Use Airport Room Revenues

RAYMOND FARMER: Files List of 20 Largest Unsecured Creditors
RAYMOND GALLOWAY: Voluntary Chapter 11 Case Summary
REALOGY CORP: Bank Debt Trades at 13% Off in Secondary Market
ROPER BROTHERS: Has Until August 13 to File Reorganization Plan
ROPER BROTHERS: Can Access Unsecured Debt from AMR and Liberty

RUBICON US: Noteholders Amend Plan of Reorganization
SARATOGA RESOURCES: Emerges From Bankruptcy
SATILLA COMMUNITY BANK: Closed; Ameris Bank Assumes All Deposits
SERGEY ZHURAVLEV: Voluntary Chapter 11 Case Summary
SETA MAMMOLA: Voluntary Chapter 11 Case Summary

SHOREBANK CORP: Wall Street Banks Help to Avoid FDIC Takeover
SOUTHWEST COMMUNITY BANK: Closed; Simmons Assumes All Deposits
SPENCER GROUP: Case Summary & 4 Largest Unsecured Creditors
STUDIO FRAMES: Case Summary & 20 Largest Unsecured Creditors
SUPERVALU INC: Bank Debt Trades at 3% Off in Secondary Market

TARRAGON CORP: Has June 18 Plan Confirmation Hearing
TENET HEALTHCARE: Registers 21.3MM Shares Under 2008 Stock Plan
TENET HEALTHCARE: Registers 4MM Shares Under 1995 Stock Plan
TEXAS GRAND PRAIRIE: Files for Chapter 11 in Forth Worth, Texas
TRIBUNE CO: Bank Debt Trades at 36% Off in Secondary Market

UNITED AIR LINES: Bank Debt Trades at 9% Off in Secondary Market
US CONCRETE: Terms of Prepackaged Plan of Reorganization
US FOODSERVICE: Bank Debt Trades at 11% Off in Secondary Market
VALUE CITY: Chapter 11 Liquidation Plan Confirmed
VAN HAM: Case Summary & 20 Largest Unsecured Creditors

VILLAGE AT OAKWELL: Tax Redetermination Request Was Too Late
WESTMORELAND COAL: Tontine et al. Hold 26.7% of Common Stock
WESTMORELAND COAL: Reports $3.195 Million Net Loss for Q1 2010
WESTMORELAND COAL: Registers 1-Mil. Shares Under Savings Plan
WHITE SANDS: Voluntary Chapter 11 Case Summary

WINDER RENEWABLE: Wants to Use Cash Collateral
WORTHMORE RENEWABLE: Asks for Court Okay to Use Cash Collateral
XERIUM TECHNOLOGIES: Prepackaged Reorganization Plan Approved
ZINAIDA NEDOVODINA: Case Summary & 20 Largest Unsecured Creditors

* Global Default Rates Continue to Decline in 2010, Says S&P
* Bank Failures This Year Now 72 As 4 Banks Shut May 14
* Adorno & Yoss Merges with Wong Fleming
* Getzler Henrich Appoints Colleen Palmer as Managing Director

* BOND PRICING -- For Week From May 10 to May 14, 2010


                            *********


2401 W.: Voluntary Chapter 11 Case Summary
------------------------------------------
Debtor: 2401 W. 64th LLC
          aka Lakepark Storage
        3440 Youngfield Street, #412
        Wheatridge, CO 80221

Bankruptcy Case No.: 10-21413

Chapter 11 Petition Date: May 10, 2010

Court: U.S. Bankruptcy Court
       District of Colorado (Denver)

Judge: Elizabeth E. Brown

Debtor's Counsel: David M. Miller, Esq.
                  303 E. 17th Avenue, Suite 500
                  Denver, CO 80203
                  Tel: (303) 832-2400
                  E-mail: dmm@kutnerlaw.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
$4,516,686 while debts total $2,030,464.

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

The petition was signed by Patrick Koentges, manager.


558/560LLC: Case Summary & 7 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: 558/560LLC
        558 West 184th Street
        Suite 1-A
        New York, NY 10033

Bankruptcy Case No.: 10-12506

Chapter 11 Petition Date: May 10, 2010

Court: United States Bankruptcy Court
       Southern District of New York (Manhattan)

Judge: Burton R. Lifland

Debtor's Counsel: Maria M. Malave, Esq.
                  558 West 184th Street
                  Suite 1-B
                  New York, NY 10033
                  Tel: (646) 228-5723

Scheduled Assets: $5,005,000

Scheduled Debts: $2,692,425

A list of the Company's 7 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/nysb10-12506.pdf

The petition was signed by Rosendo A. Fermin, manager.


ABITIBIBOWATER INC: Plan Exclusivity Extended to July 21
--------------------------------------------------------
Bill Rochelle at Bloomberg News reports that AbitibiBowater Inc.
sought and obtained an extension until July 21 of the exclusive
right to propose a Chapter 11 reorganization plan.  Abitibi
already filed a Chapter 11 plan, although without an explanatory
disclosure statement.  The plan proposes paying secured creditors
in full, in cash, with unsecured creditors taking the new stock,
thus wiping out existing shareholders.  The plan would be financed
in part by a rights offering to unsecured creditors.

                      About AbitibiBowater

AbitibiBowater 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 22 pulp and paper facilities and
26 wood products facilities located in the United States, Canada
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).


ACCREDITED HOME: Poised to File Plan with Lone Star Deal
--------------------------------------------------------
Bill Rochelle at Bloomberg News reports that Accredited Home
Lenders Holding Co. is on the brink of filing a Chapter 11 plan
that includes a settlement with owner Lone Star Funds.

According to the report, Accredited Home said in a court filing
that it would sell its assets, and any claims that could be
brought on its behalf would go into a trust for creditors.  For
all of the other companies, the Chapter 11 plan would be a
settlement where Lone Star, in return for the release, would pay
$10.5 million in cash, subordinate a $100 million claim and give
up a secured claim on $1.25 million cash.

Accredited Home said a number of major creditors support the
settlement.

The secured lenders' motion for conversion of the case to a
liquidation in Chapter 7 is scheduled for hearing on May 20.  A
motion by the unsecured creditors' committee to sue owner Lone
Star Funds was put back to the same date.

                    About Accredited Home

Accredited Home Lenders Holding Co. -- http://www.accredhome.com/
-- is a mortgage banker servicing U.S. markets for conforming and
non-prime residential mortgage loans operating throughout the U.S.
and in Canada.  Founded in 1990, the company is headquartered in
San Diego.  The Company was acquired by Lone Star Funds for
$300 million in October 2007.  Lone Star also owns Bruno's
Supermarkets LLC and Bi-Lo LLC, two grocery retailers in Chapter
11.

Accredited Home and its affiliates filed for Chapter 11 on May 1,
2009 (Bankr. D. Del. Lead Case No. 09-11516).  Gregory G. Hesse,
Esq., Lynnette R. Warman, Esq., and Jesse T. Moore, Esq., at
Hunton & William LLP, represent the Debtors as counsel.  Laura
Davis Jones, Esq., James E. O'Neill, Esq., and Timothy P. Cairns,
Esq., at Pachulski Stang Ziehl & Jones LLP, serve as Delaware
counsel.  Kurtzman Carson Consultants is the Debtors' claims
agent.  Andrew I Silfen, Esq., Schuyler G. Carroll, Esq., Robert
M. Hirsch, Esq., at Arent Fox LLP in New York, and Jeffrey N.
Rothleder, Esq., at Arent Fox LLP in Washington, DC, represent the
official committee of unsecured creditors as co-counsel.  Neil R.
Lapinski, Esq., and Shelley A. Kinsella, Esq., at Elliott
Greenleaf, represent the Committee as Delaware and conflicts
counsel.

According to its bankruptcy petition, Accredited Home's assets
range from $10 million to $50 million and its debts from
$100 million to $500 million.


AVAYA INC: Bank Debt Trades at 11% Off in Secondary Market
----------------------------------------------------------
Participations in a syndicated loan under which Avaya, Inc., is a
borrower traded in the secondary market at 89.07 cents-on-the-
dollar during the week ended Friday, May 14, 2010, according to
data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents a drop of 2.43 percentage points
from the previous week, The Journal relates.  The Company pays 275
basis points above LIBOR to borrow under the facility.  The bank
loan matures on Oct. 26, 2014, and is not rated by Moody's and
Standard & Poor's.  The debt is one of the biggest gainers and
losers among 198 widely quoted syndicated loans with five or more
bids in secondary trading for the week ended Friday.

Avaya, Inc., based in Basking Ridge, New Jersey, is a supplier of
communications systems and software for enterprise customers.

The Troubled Company Reporter stated on Dec. 23, 2009, that
Moody's downgraded Avaya's corporate family rating to B3 from B2.
The downgrade was driven by challenges presented by the
acquisition of Nortel's enterprise assets as well as the large
amount of additional debt incurred to finance the acquisition
(approximately $1 billion).


AVSTAR FUEL: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Avstar Fuel Systems, Inc.
        1365 Park Lane South
        Jupiter, FL 33458

Bankruptcy Case No.: 10-22762

Chapter 11 Petition Date: May 10, 2010

Court: U.S. Bankruptcy Court
       Southern District of Florida (West Palm Beach)

Judge: Paul G. Hyman Jr.

Debtor's Counsel: Craig I. Kelley, Esq.
                  1665 Palm Beach Lakes Boulevard #1000
                  West Palm Beach, FL 33401
                  Tel: (561) 491-1200
                  E-mail: cik@kelleylawoffice.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
$1,841,318 while debts total $5,437,475.

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/flsb10-22762.pdf

The petition was signed by Ronald Weaver, president.

Debtor-affiliate filing separate Chapter 11 petition:

        Entity                     Case No.          Petition Date
        ------                     --------          -------------
R & J National Enterprises, Inc.   10-22765             05/10/2010


BEDFORD TOWN: Utility's Demand Didn't Tie Bankr. Court's Hands
--------------------------------------------------------------
WestLaw reports that a bankruptcy court had authority, before a
Chapter 11 debtor had paid the amounts demanded by utilities as
necessary to provide them with the requisite adequate assurance,
to modify the adequate assurance required by the utilities.  A
paragraph of the bankruptcy statute -- 11 U.S.C. Sec. 366 --
governing the debtor's postpetition utility service, which granted
utilities the right, "subject to" the succeeding paragraphs of the
statute, to alter, refuse or discontinue service to the debtor,
if, within 30 days of the petition date, they did not receive
adequate assurance of payment that was satisfactory to them, did
not give utilities an unfettered right to alter, refuse or
discontinue service if their demands for adequate protection were
not met within this 30-day period. Utilities' right to alter
service was expressly "subject to" the succeeding paragraphs of
the statute, one of which authorized the court to modify the
adequate assurance required by the utilities.  In re Bedford Town
Condominium, --- B.R. ----, 2010 WL 1709949 (Bankr. D. Md.)
(Catliota, J.).

In Re Bedford Town Condominium Association aka The Marylander
sought chapter 11 protection (Bankr. D. Md. Case No. 10-15831) on
March 19, 2010.  A copy of the Debtor's chapter 11 petition is
available at http://bankrupt.com/misc/mdb10-15831.pdfat no
charge.


BIOFEST INTERNATIONAL: Files Plan of Reorganization
---------------------------------------------------
Biovest International, Inc. filed its proposed Plan of
Reorganization with the U.S. Bankruptcy Court for the Middle
District of Florida, Tampa Division.  With this filing, Biovest is
positioned to emerge from Chapter 11 protection this summer as a
fully restructured company.  Upon Court-ordered confirmation, the
Plan of Reorganization is expected to support the planned
commercialization of BiovaxID(R), Biovest's personalized cancer
vaccine intended to treat certain B-cell lymphomas with an initial
indication of follicular non-Hodgkin's lymphoma.  The Company is
preparing to seek U.S. and international regulatory approvals for
BiovaxID based on the positive outcomes from two Phase II trials
and its Phase III fNHL trial which demonstrated statistically
significant results in extending disease-free survival in
vaccinated patients, as reported at the 2009 American Society of
Clinical Oncology (ASCO) Annual Meeting Plenary Session.

The Plan was prepared in close consultation with the Official
Committee of the Unsecured Creditors and has support from the
Company's largest senior secured creditor, as demonstrated by a
previously filed motion to compromise which was granted Court
approval today.

"Biovest voluntarily filed for reorganization in November 2008 in
order to avoid potential disruption of its biotech development
plans from what was then a crisis situation in the world-wide
capital markets.  From the outset, we committed to a strategy that
would preserve the interest of all stakeholders - our creditors,
employees and shareholders," stated Biovest's President, Mr.
Samuel S. Duffey.  "With such a strong level of support from our
creditors, the confidence and loyalty of our customers and the
unrelenting focus of our talented employees, we are now poised to
emerge from Chapter 11 with the enormous opportunity to advance
key regulatory, manufacturing and partnering strategies for
BiovaxID.  Our goal is clear: to help cancer patients by securing
marketing approvals for the first personalized lymphoma vaccine
that can significantly prolong a cancer-free condition."

Referring to Biovest's parent company, Accentia
Biopharmaceuticals, Inc., Mr. Duffey added, "We expect Accentia
and Biovest to both emerge from Chapter 11 simultaneously.  In
this regard, we are diligently working to file Accentia's separate
Plan of Reorganization in the very near future."

Key elements of the Biovest Plan, which is subject to confirmation
and approval by the Bankruptcy Court, are:

-- Strengthening the Company's financial position and balance
   sheet by: establishing 2-year deferral of all scheduled
   interest and principal on senior secured debt; converting
   inter-company debt owed to Accentia to equity; and making non-
   disruptive arrangements for payment to trade creditors

-- Enhancing the positioning of BiovaxID for potential partnering
   and planned commercialization by reducing royalties based on
   sales of the cancer vaccine from 35.0% to 6.30%

-- Enhancing the positioning of the AutovaxID(TM) bioreactor
   system to better capitalize on key pending partnering and
   commercial opportunities by eliminating all royalties based on
   the sales of this novel bio-production instrument, including
   the remaining $7.5 million balance of a previously guaranteed
   minimum royalty payment

-- Improving the Company's capital structure by canceling
   approximately 23.4 million warrants held by our largest senior
   secured creditor to purchase Biovest common shares at an
   exercise price of $0.01 per share, while recognizing that
   creditor as a long-term holder of 9.99% common stock subject to
   limitations on resale

-- Protecting our current stockholders by preserving common shares
   and by avoiding a significant increase to fully diluted equity
   as part of the Plan of Reorganization (fully diluted share
   count would be expected to increase if Biovest enters into
   future equity financing agreements)

Biovest also reported that the Company soon expects to be fully
compliant with SEC financial reporting rules by filing all past
annual and quarterly reports.

                    About Biovest International

Headquartered in Tampa, Florida with its bio-manufacturing
facility based in Minneapolis, Minnesota, Biovest International,
Inc. is an emerging leader in the field of personalized
immunotherapies targeting life-threatening cancers of the blood
system. Developed in collaboration with the National Cancer
Institute, BiovaxID(R) is a patient-specific, anti-lymphoma cancer
vaccine, demonstrating statistically significant Phase III
clinical benefit by prolonging disease-free survival in patients
suffering from indolent follicular non-Hodgkin's lymphoma.
BiovaxID has been granted Orphan Drug Designation by both the U.S.
FDA and the European EMEA.  Biovest has also developed and markets
a proprietary line of automated hollow fiber bioreactor systems,
including the innovative AutovaxID(TM) which is a production
platform for the scalable manufacture of difficult-to-produce
biologics including personalized medicines, monoclonal antibodies,
cell culture vaccines and therapeutics targeting highly infectious
agents. Since 1981, Biovest has been offering its clients a wide
range of instrumentation and cell culture contract manufacturing
services.


BLACK CROW: Wants Paul Stone's Lien in Cash Collateral Clarified
----------------------------------------------------------------
Black Crow Media Group, LLC, et al., ask the U.S. Bankruptcy court
for the Middle District of Florida to schedule an emergency
hearing in relation to the final order authorizing the Debtors to
obtain postpetition secured financing and use the cash collateral
of the DIP lender, Paul C. Stone.

The Debtors ask that the DIP order be changed to reflect that:

   -- the DIP lender is granted a first priority lien on the cash
      and accounts receivable; and

   -- GE Capital's postpetition liens on the cash and accounts
      receivable are discharged upon payment of the $1.88 million.

The Debtor related that Mr. Stone will not close the DIP loan
unless certain provisions of the DIP order are clarified regarding
the priority of his DIP liens.

Pursuant to the DIP order, $1.88 million will be paid to GE
Capital at closing to fully satisfy and discharge the Debtors'
obligations, and Mr. Stone will be granted a junior lien, not a
first priority lien, in cash and accounts receivable of the Debtor
even after payment of the $1.88 million in cash collateral owing
to GE Capital.  This would leave Mr. Stone without a first
priority lien and potentially with no collateral, despite
advancing new cash up to $1.5 million under the DIP loan.

                      About Black Crow Media

Daytona Beach, Florida-based Black Crow Media Group, LLC, owns and
operates 17 FM and 5 AM radio stations in Daytona Beach, Live Oak,
Valdosta, Huntsville, Alabama, and Jackson, Tennessee.

The Company filed for Chapter 11 bankruptcy protection on
January 11, 2010 (Bankr. M.D. Fla. Case No. 10-00172).  The
Company's affiliates -- Black Crow Media, LLC, et al. -- also
filed separate Chapter 11 petitions.

Mariane L. Dorris, Esq., and R Scott Shuker, Esq., at Latham
Shuker Eden & Beaudine LLP, assist the Company in its
restructuring effort.  The Company listed $10,000,001 to
$50,000,000 in assets and $50,000,001 to $100,000,000 in
liabilities.


CAMP ARROWHEAD: Asset Buyers Were "Good Faith Purchasers"
---------------------------------------------------------
WestLaw reports that the evidence supported a Texas bankruptcy
court's finding that the purchasers of the Chapter 11 debtor's
real property were good faith purchasers, as would prevent a court
from modifying or reversing the sale of property in the absence of
a stay pending appeal, pursuant to 11 U.S.C. Sec. 363(m).  The
evidence showed that the purchasers sought to purchase the
property out of their own personal interest, that the purchasers
were not solicited by the debtor or one of its agents to purchase
the property, that the purchasers did not obtain the property by
fraud, and that the purchasers' actions were not grossly unfair to
other bidders.  In re Camp Arrowhead, Ltd., --- B.R. ----, 2010 WL
1641286 (W.D. Tex.) (Rodriguez, J.).

Camp Arrowhead, Ltd., owned approximately 650 acres of real
property located in Hunt, Tex., and agreed on Apr. 15, 2009 to
sell the property to Coolwater, LLC, for $6,500,000.  On Apr. 20,
2009, Glenn and Suzanne Youngkin offered to purchase the property
for $6,750,000, and Camp Arrowhead accepted the higher offer and
terminated its deal with Coolwater.  Coolwater sued in Texas state
court for specific performance.

On Nov. 30, 2009, Camp Arrowhead sought bankruptcy protection
(Bankr. W.D. Tex. Case No. 09-54693).  Coolwater unsuccessfully
argued that the filing was in bad faith or for an illegitimate
purpose, and the Bankruptcy Court declined Coolwater's invitation
to dismiss the bankruptcy proceeding.  Camp Arrowhead then sought
and obtained authority from the Bankruptcy Court to sell the
property to the Youngkins.  The Bankruptcy Court approved the
sale, finding that the Youngkins were good faith purchasers, and,
on Mar. 2, 2010, Camp Arrowhead closed the sale of the property
pursuant to the sale order.


CAMTECH PRECISION: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Camtech Precision Manufacturing, Inc.
        1365 Park Lane South
        Jupiter, FL 33458

Bankruptcy Case No.: 10-22760

Chapter 11 Petition Date: May 10, 2010

Court: U.S. Bankruptcy Court
       Southern District of Florida (West Palm Beach)

Judge: Paul G. Hyman Jr.

Debtor's Counsel: Craig I Kelley, Esq.
                  1665 Palm Beach Lakes Boulevard #1000
                  West Palm Beach, FL 33401
                  Tel: (561) 491-1200
                  E-mail: cik@kelleylawoffice.com

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

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

According to the schedules, the Company says that assets total
$10,977,673 while debts total $14,625,066.

The petition was signed by Ron Weaver, president.

Debtor-affiliates filing separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
R&J National Enterprises, Inc.

Camtech's List of 20 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Charleston Aluminum, LLC           trade debt             $491,609
P.O. Box 890851
Charlotte, NC 28289-0851

4-M Precision Stamping, Inc.       trade debt             $305,474
4000 Technology Park Boulevard
Auburn, NY 13021

AMI Metals Inc.                    trade debt             $266,053
P.O Box 952474
St. Louis, MO 63195-2474

CMC Commonwealth Metals            trade debt             $249,125

Betsy Price Tax Assessor           tax debt               $225,843

4-M Precision Stamping, Inc.       trade debt             $129,794

Makino                             trade debt              $64,644

Preferred Industrial Painting      trade debt              $64,436

Prince Manufacturing               trade debt              $64,349

ACME Industrial Company            trade debt              $56,770

Epicor Software Corporation        trade debt              $52,345

J.T. Ryerson & Son, Inc.           trade debt              $51,891

ALcan Rolled Products, LLC         trade debt              $50,606

Reliant Energy Dept 0954           trade debt              $48,751

M & H Supply & Equipment           trade debt              $48,516

Auburn Property Management         trade debt              $47,600

Venture Management Services        trade debt              $30,000

CGTech Vericut                     trade debt              $26,800

A.M. Castle & Co.                  trade debt              $26,515

TW Metals, Inc.                    trade debt              $23,588


CAPITAL GROWTH: Pivotal Global Acquires Defaulted Loan From ACF
---------------------------------------------------------------
Capital Growth Systems, Inc., said in a regulatory filing that on
May 3, 2010, Pivotal Global Capacity, LLC, an affiliate of the
Pivotal Group of companies engaged in the private equity business
and based in Phoenix, Arizona, closed on its purchase of all
rights and obligations of ACF CGS, L.L.C. as agent for itself and
any other named lenders, with respect to a Term Loan and Security
Agreement dated November 19, 2008, as amended between ACF CGS,
L.L.C. on the one hand and the Company and all of its active 100%
owned subsidiaries on the other hand.  As of the date of the
closing, the indebtedness under the Loan Agreement totaled $5.3
million.

As of December 31, 2009, the Company was not in compliance with
the EBITDA covenant under the Loan, and a forbearance agreement
was obtained.  That forbearance expired April 12, 2010.

As part of the Loan Agreement assignment, Pivotal, ACF CGS, L.L.C.
and the Company and its subsidiaries entered into a Resignation,
Appointment and Amendment Agreement whereby Pivotal was
substituted as the "Agent" and sole lender under the Loan
Agreement with no changes in terms and conditions.  The Company
agreed to reimburse Pivotal for its third party expenses incurred
in connection with the transactions leading to the assignment of
the loan from ACF CGS, L.L.C.  Pivotal has been assigned the same
rights and obligations of the previous holder and has stepped into
the role as the new Senior Lender in the same capacity as ACF CGS,
L.L.C.

The Company said it will be working toward refinancing objectives
to address the working capital deficiency and upcoming maturity
date of the Term Loan, due in November 2010.  There can be no
assurances that the Company will be successful in these
initiatives.  The Company is currently in default and is in breach
of certain covenants of the Term Loan, as it had been with the
previous Lender.

The Term Loan Agreement provided for a senior secured term loan of
$8.5 million effective November 19, 2008.  The Company and its
affiliates granted to ACF CGS a security interest in substantially
all of its assets and a collateral pledge of all of the common
stock or limited liability company interests of its wholly owned
subsidiaries.  Interest on the Term Loan is payable monthly at the
higher of prime or 5% plus a margin of 14%, with 5% of that rate
paid-in-kind. Paid-in-kind interest compounds monthly and is added
to the outstanding principal balance of the Term Loan.  The
Company incurred debt issuance costs of $1.8 million in connection
with the Term Loan Agreement, which included a Term Loan
origination fee of 2.5%, financial advisory services, legal fees
and other costs.

The Term Loan Agreement also contains an affirmative covenant
requiring the Company to increase its authorized common shares by
12 million.  In connection with the July Debentures -- $10.5
million, issued in July 2009 and August 2009, Original Issue
Discount and debt discount at issuance of $4.5 million and $5.2
million -- the increase in authorized shares was to have been
finalized by January 26, 2010.  A waiver extending the authorized
share increase to March 19, 2010 was obtained from the Senior
Lender.  Per the Senior Lender's letter of March 25, 2010, this
forbearance was not extended and several items of default exist.

The Company said management is actively pursuing sources of
capital to refinance or refund the Term Loan and provide
additional working capital.  "If our lenders or vendors do not
maintain their forbearance, we may be forced to raise additional
capital through issuance of new equity or increasing our debt
load, or a combination of both.  There can be no assurance that
the Company will be successful in completing any of these
activities on terms that would be favorable to the Company, if at
all," the Company said in the filing.

                   About Capital Growth Systems

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

At March 31, 2010, the Company had total assets of $26,970,000
against total liabilities of $79,519,000, resulting in
stockholders' deficit of $52,549,000.  The March 31, 2010 balance
sheet showed strained liquidity: The Company had total current
assets of $7,734,000 against total current liabilities of
$39,344,000.

Asher & Company, Ltd., in Philadelphia, Pa., expressed substantial
doubt about the Company's ability to continue as a going concern.
The independent auditors noted that of the Company's recurring
operating losses, negative cash flows from operations, net working
capital deficiency, shareholders' deficit and debt covenant
violations and related penalties.


CAPITAL GROWTH: Reports $2,047,000 Net Loss for March 31 Quarter
----------------------------------------------------------------
Capital Growth Systems, Inc., reported a net loss of $2,047,000
for the three-month period ended March 31, 2010, against a net
loss of $21,059,000 for the three-month period ended March 31,
2009.  Revenues were $14,676,000 for the 2010 first quarter from
$16,242,000 for the 2009 first quarter.

At March 31, 2010, the Company had total assets of $26,970,000
against total liabilities of $79,519,000, resulting in
stockholders' deficit of $52,549,000.  The March 31, 2010 balance
sheet showed strained liquidity: The Company had total current
assets of $7,734,000 against total current liabilities of
$39,344,000.

The Company said included in its current liabilities is $17.1
million of current maturities of long-term debt, net of $27.6
million of debt discount associated with the initial fair value of
related warrants and embedded derivatives and $20.6 million
associated with Original Issue Discount and imputed interest.
Cash on hand at March 31, 2010, was $1.7 million (not including
$400,000 restricted for outstanding letters of credit).

The Company said its net working capital deficiency, accumulated
deficit and recurring operating losses raise substantial doubt
about its ability to continue as a going concern.  In addition,
due to covenant violations, the Company's Term Loan is callable by
its Senior Lender.

A full-text copy of the Company's quarterly report on Form 10-Q is
available at no charge at http://ResearchArchives.com/t/s?6233

                   About Capital Growth Systems

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

As of December 31, 2009, the Company was not in compliance with
the EBITDA covenant under a loan agreement with ACF CGS, L.L.C.,
and a forbearance agreement was obtained.  That forbearance
expired April 12, 2010.  On May 3, 2010, Pivotal Global Capacity,
LLC, an affiliate of the Pivotal Group of companies engaged in the
private equity business and based in Phoenix, Arizona, acquired
all rights and obligations of ACF CGS with respect to the Loan.

Asher & Company, Ltd., in Philadelphia, Pa., expressed substantial
doubt about the Company's ability to continue as a going concern.
The independent auditors noted that of the Company's recurring
operating losses, negative cash flows from operations, net working
capital deficiency, shareholders' deficit and debt covenant
violations and related penalties.


CAPITAL GROWTH: Wants to Issue 990-Mil. Shares; Mulls Name Change
-----------------------------------------------------------------
Capital Growth Systems, Inc., is planning to call a special
meeting of stockholders at a yet to be determined date to ask
stockholders to:

     -- approve an amendment to the Company's Articles of
        Incorporation to increase the maximum number of shares of
        Common Stock the Company is authorized to issue from
        350 million to 990 million;

     -- approve an amendment to its Articles of Incorporation to
        change the Company's name to Global Capacity, Inc.; and

     -- transact any other business that may properly be presented
        at the special meeting.

The Company intends to hold the special meeting at 10:00 a.m.
central time, at 111 E. Wacker, Suite 2800, in Chicago, Illinois
60601.  The Company has yet to set the record date to determine
stockholders eligible to vote at the special meeting.

A full-text copy of the preliminary proxy statement is available
at no charge at http://ResearchArchives.com/t/s?6234

On April 30, 2010, the Company said a previously announced asset
purchase agreement expired.  On December 31, 2009, the Company
entered into an asset purchase agreement for the assignment of
certain off network circuit contracts with Global Telecom &
Technology Americas, Inc., which was subsequently amended to call
for an initial closing date to occur no later than April 30, 2010.
The conditions precedent to the initial closing of the APA, which
included certain customer, supplier and lender consents, along
with regulatory approvals, were not met and the APA has therefore
lapsed.  The Company plans to continue to operate the assets that
were subject to the APA on a going forward basis in the ordinary
course of business.

                   About Capital Growth Systems

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

At March 31, 2010, the Company had total assets of $26,970,000
against total liabilities of $79,519,000, resulting in
stockholders' deficit of $52,549,000.  The March 31, 2010 balance
sheet showed strained liquidity: The Company had total current
assets of $7,734,000 against total current liabilities of
$39,344,000.

As of December 31, 2009, the Company was not in compliance with
the EBITDA covenant under a loan agreement with ACF CGS, L.L.C.,
and a forbearance agreement was obtained.  That forbearance
expired April 12, 2010.  On May 3, 2010, Pivotal Global Capacity,
LLC, an affiliate of the Pivotal Group of companies engaged in the
private equity business and based in Phoenix, Arizona, acquired
all rights and obligations of ACF CGS with respect to the Loan.

Asher & Company, Ltd., in Philadelphia, Pa., expressed substantial
doubt about the Company's ability to continue as a going concern.
The independent auditors noted that of the Company's recurring
operating losses, negative cash flows from operations, net working
capital deficiency, shareholders' deficit and debt covenant
violations and related penalties.


CARY FREEMAN: Case Summary & 15 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Cary Maurice Freeman
        dba Sunbelt Realty
        309 51st Avenue N
        Nashville, TN 37209

Bankruptcy Case No.: 10-04960

Chapter 11 Petition Date: May 10, 2010

Court: United States Bankruptcy Court
       Middle District of Tennessee (Nashville)

Judge: Keith M Lundin

Debtor's Counsel: Steven L. Lefkovitz, Esq.
                  Law Offices Lefkovitz & Lefkovitz
                  618 Church St. Suite 410
                  Nashville, TN 37219
                  Tel: (615) 256-8300
                  Fax: (615) 255-4516
                  E-mail: slefkovitz@lefkovitz.com

Scheduled Assets: $1,099,879

Scheduled Debts: $547,807

A list of the Company's 15 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/tnmb10-04960.pdf

The petition was signed by Cary Maurice Freeman.


CATALYST PAPER: To Sell US$110 Million in Class B 11% Notes
-----------------------------------------------------------
Catalyst Paper Corporation has entered into an agreement to sell
to certain initial purchasers on a private placement basis US$110
million in aggregate principal amount of Class B 11% senior
secured notes due December 15, 2016 at an offering price of
86.000% of the principal amount.  The initial purchasers may
retain the Class B senior secured notes for their own accounts
and/or may resell the Class B senior secured notes to qualified
institutional buyers pursuant to Rule 144A under the U.S.
Securities Act of 1933, as amended.

The Class B senior secured notes will rank equally in right of
payment with all of Catalyst's other existing and future senior
debt, including the US$280.4 million in aggregate principal amount
of 11% Senior Secured Notes due December 15, 2016 issued in
connection with the exchange offer that was completed on March 10,
2010, and will rank senior to all of Catalyst's existing and
future subordinated debt.

The Class B senior secured notes will be secured on a first
priority basis by all of Catalyst's assets, subject to certain
exceptions, other than those assets securing Catalyst's existing
CDN $330 million asset-based revolving credit facility.  In
addition, the Class B senior secured notes will be secured on a
second priority basis by the assets which secure on a first
priority basis obligations under the ABL Facility and the
obligations under any derivatives transactions from time to time
entered into by Catalyst.  These assets primarily consist of
working capital and the plant, property and equipment of
Catalyst's Snowflake mill and related operations.  The collateral
that will secure the Class B senior secured notes is the same
collateral that secures the Outstanding 2016 Notes and may secure
other debt in the future.  The terms of the Class B senior secured
notes are substantially identical to the terms of the Outstanding
2016 Notes.

The Class B senior secured notes will be guaranteed on a senior
basis, jointly and severally, by each of Catalyst's restricted
subsidiaries, subject to certain exceptions.  These subsidiaries
are the same subsidiaries that guarantee the Outstanding 2016
Notes.

The sale of the Class B senior secured notes is expected to be
consummated on May 19, 2010, subject to customary closing
conditions.

The net proceeds of the offering of the Class B senior secured
notes will be used for general corporate purposes.

                       About Catalyst Paper

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

                          *     *     *

In mid-March 2010, Standard & Poor's Ratings Services lowered its
long-term corporate credit rating on Catalyst Paper to 'SD'
(selective default) from 'CC'.  Given the weak outlook for the
company's specialty paper and newsprint segments, S&P expects
Catalyst to continue to face challenging market conditions in
2010.

Moody's Investors Service also downgraded Catalyst's Corporate
Family Rating to Caa1 from B3 while revising the Probability of
Default Rating to Caa1/LD from Caa3, with the "/LD" suffix
signaling a "limited default".  Catalyst's CFR downgrade
anticipates a marked deterioration in the company's financial
performance over the coming year, with significant EBITDA erosion
compared to 2009 levels and negative free cash flow generation.


CATALYST PAPER: May Permanently Close Elk Falls Mill
----------------------------------------------------
Catalyst Paper Corporation warned in a regulatory filing that it
may have to permanently close its Elk Falls mill in Campbell
River, British Columbia.

Catalyst Paper said in a regulatory filing with the U.S.
Securities and Exchange Commission that, due to on-going weak
market conditions, the Company has continued to curtail certain
operations at its Elk Falls mill.  As at March 31, 2010, the
curtailments have affected roughly 300 hourly employees at the Elk
Falls mill.  The labor agreement between the Company and the union
provides that if an hourly employee has been on lay-off for 12
months, and, at the end of that 12-month period, the Company has
no plans to re-employ the employee during the three months
following, the affected employee has an option of requesting a
severance payment.  Employees requesting a severance payment would
lose their rights of recall under the agreement.  The labor
agreement between the Company and PPWC Local 2 at Crofton, has
similar provisions under which severance applies, although the 900
hour threshold does not apply.

As at March 31, 2010, roughly 200 employees at Elk Falls have
requested severance payments, resulting in an aggregate severance
charge of roughly C$12.0 million.  If the remaining employees
affected exercise their severance rights, as opposed to retaining
their recall, rights, the Company estimates that the potential
additional severance payment would be roughly C$6.0 million.

"We may not be able to restart the Elk Falls mill if all of the
remaining hourly employees of this mill decide to forfeit their
recall rights and request severances, in which case, we would
consider permanently closing this mill," the Company said.

In addition to the hourly employees on lay-off due to production
curtailments, as at March 31, 2010, there were roughly 50 other
hourly employees who were on lay-off at the Company's Crofton, Elk
Falls, Port Alberni, and Powell River mills due to restructuring
and other initiatives.  These employees are entitled to rights of
recall in the range of 12 to 42 months from the last day worked,
but at any time may forfeit their rights of recall in exchange for
severance payments.  If all affected employees exercise their
severance rights at some point and thereby forfeit their recall
rights, the Company estimates that the total severance payment
would be roughly C$2.0 million.

On May 12, 2010, Catalyst Paper filed with the Securities and
Exchange Commission its annual report on Form 20-F for the fiscal
year ended December 31, 2009.  The Company has posted a net loss
for the past five years:

     Year                   Net Loss
     ----                   --------
     2005               C$49,800,000
     2006               C$25,700,000
     2007               C$36,400,000
     2008              C$219,000,000
     2009                C$5,600,000

As reported by the Troubled Company Reporter on May 6, 2010,
Catalyst Paper recorded a net loss attributable to the company of
C$44.1 million on sales of C$273.3 million for the first quarter
of 2010.  The net loss increased from C$35.8 million in the
preceding quarter, due to declining specialty printing paper
prices and additional production curtailment.  Higher
restructuring, input and maintenance costs further impacted first
quarter results.

The Company's balance sheet at March 31, 2010, showed C$2.02
billion in total assets and C$1.25 billion in total debts, for a
C$760.0 million total stockholders' equity.

A full-text copy of the Company's Annual Report is available at no
charge at http://ResearchArchives.com/t/s?621d

                       About Catalyst Paper

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

                          *     *     *

In mid-March 2010, Standard & Poor's Ratings Services lowered its
long-term corporate credit rating on Catalyst Paper to 'SD'
(selective default) from 'CC'.  Given the weak outlook for the
company's specialty paper and newsprint segments, S&P expects
Catalyst to continue to face challenging market conditions in
2010.

Moody's Investors Service also downgraded Catalyst's Corporate
Family Rating to Caa1 from B3 while revising the Probability of
Default Rating to Caa1/LD from Caa3, with the "/LD" suffix
signaling a "limited default".  Catalyst's CFR downgrade
anticipates a marked deterioration in the company's financial
performance over the coming year, with significant EBITDA erosion
compared to 2009 levels and negative free cash flow generation.


CHARTER COMMS: Bank Debt Trades at 7% Off in Secondary Market
-------------------------------------------------------------
Participations in a syndicated loan under which Charter
Communications, Inc., is a borrower traded in the secondary market
at 92.85 cents-on-the-dollar during the week ended Friday, May 14,
2010, according to data compiled by Loan Pricing Corp. and
reported in The Wall Street Journal.  This represents a drop of
1.58 percentage points from the previous week, The Journal
relates.  The Company pays 262.5 basis points above LIBOR to
borrow under the facility, which matures on March 6, 2014.
Moody's has withdrawn its rating on the bank debt while it carries
Standard & Poor's BB+ rating.  The debt is one of the biggest
gainers and losers among 198 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended Friday.

Based in St. Louis, Missouri, Charter Communications, Inc. (Pink
OTC: CHTRQ) -- http://www.charter.com/-- is a broadband
communications company and the fourth-largest cable operator in
the United States.  Charter provides a full range of advanced
broadband services, including advanced Charter Digital Cable(R)
video entertainment programming, Charter High-Speed(R) Internet
access, and Charter Telephone(R).  Charter Business(TM) similarly
provides scalable, tailored, and cost-effective broadband
communications solutions to business organizations, such as
business-to-business Internet access, data networking, video and
music entertainment services, and business telephone.  Charter's
advertising sales and production services are sold under the
Charter Media(R) brand.

Charter Communications and more than a hundred affiliates filed
voluntary Chapter 11 petitions on March 27, 2009 (Bankr. S.D.N.Y.
Case No. 09-11435).  As of March 31, 2009, the Debtors had total
assets of $13,650,000,000, and total liabilities of
$24,501,000,000.  Pacific Microwave filed for bankruptcy April 20,
2009, disclosing assets of not more than $50,000 and debts of more
than $1 billion.

The Hon. James M. Peck presides over the cases.  Richard M. Cieri,
Esq., Paul M. Basta, Esq., and Stephen E. Hessler, Esq., at
Kirkland & Ellis LLP, in New York, serve as counsel to the
Debtors, excluding Charter Investment Inc.  Albert Togut, Esq., at
Togut, Segal & Segal LLP in New York, serves as Charter
Investment, Inc.'s bankruptcy counsel.  Curtis, Mallet-Prevost,
Colt & Mosel LLP, in New York, is the Debtors' conflicts counsel.
Ernst & Young LLP is the Debtors' tax advisors.  KPMG LLP is the
Debtors' independent auditor.  The Debtors' valuation consultants
are Duff & Phelps LLC; the Debtors' financial advisors are Lazard
Freres & Co. LLC; and the Debtors' restructuring consultants are
AlixPartners LLC.  The Debtors' regulatory counsel is Davis Wright
Tremaine LLP, and Friend Hudak & Harris LLP.  The Debtors' claims
agent is Kurtzman Carson Consultants LLC.

Judge James M. Peck of the U.S. Bankruptcy Court for the Southern
District of New York approved the Debtors' pre-arranged joint plan
of reorganization in a bench ruling on Oct. 15, 2009.

On Nov. 30, 2009, Charter Communications, Inc., announced that it
has successfully completed its financial restructuring, which
significantly improves the Company's capital structure by reducing
debt by approximately 40 percent, or approximately $8 billion.

Charter Communications, Inc., has emerged from Chapter 11 under
its pre-arranged Joint Plan of Reorganization, which was confirmed
by the United States Bankruptcy Court for the Southern District of
New York on Nov. 17, 2009.

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


CHEM RX: Court Approves First-Day Motions
-----------------------------------------
Chem Rx Corporation has received Court approval for all of its
first-day motions, allowing normal business operations, including
the purchase and distribution of all drugs and services to its
clients.

The Court also approved on an interim basis Chem Rx's ability to
access its cash and use it in its ongoing operations.  This
approval allows the company to make payments to vendors for
products and services purchased after the filing date of May 11,
2010.  The Court also approved the company's ability to pay
employee wages, salaries and benefits both before and accruing
after its voluntary petitions under Chapter 11.

"Today's hearing was an important step in the reorganization
process and we are pleased that the Court approved our first day
motions," said Jerry Silva, Chem Rx CEO. " This will allow us to
operate our business as usual, so that we can keep serving our
many clients who rely on the drugs and supplies that we deliver
each day for their patients."

                          About Chem Rx

Chem Rx -- http://www.chemrx.net.-- is a major institutional
pharmacy serving the New York City metropolitan area, as well as
parts of New Jersey, upstate New York, Pennsylvania and Florida.
Chem Rx's client base includes skilled nursing facilities and a
wide range of other long-term care facilities.  Chem Rx annually
provides over six million prescriptions to over 69,000 residents
of more than 400 institutional facilities.


CHENIERE ENERGY: Delays Plan to Sell $1-Bil. in Securities
----------------------------------------------------------
Cheniere Energy, Inc., has delayed a planned sale of
$1,000,000,000 in securities.  The Company has filed with the
Securities and Exchange Commission a shelf registration statement
in connection with its plan to offer, from time to time, in one or
more offerings any combination of these securities:

     -- shares of common stock;

     -- shares of preferred stock, which may be convertible into
        or exchangeable for debt securities or common stock;

     -- senior debt securities, which may be convertible into or
        exchangeable for common stock or preferred stock;

     -- subordinated debt securities, which may be convertible
        into or exchangeable for common stock or preferred stock;

     -- warrants to purchase common stock, preferred stock, debt
        securities, rights or units;

     -- rights to purchase common stock, preferred stock, debt
        securities, warrants or units; or

     -- units consisting of any combination of common stock,
        preferred stock, debt securities, warrants or rights.

The aggregate initial offering price of all securities sold by the
Company under the prospectus will not exceed $1,000,000,000.

A full-text copy of the prospectus is available at no charge at
http://ResearchArchives.com/t/s?622f

Cheniere Energy, Inc. (NYSE Amex: LNG) -- http://www.cheniere.com/
-- is a Houston-based energy company primarily engaged in LNG
related businesses, and owns and operates the Sabine Pass LNG
receiving terminal and Creole Trail pipeline in Louisiana.
Cheniere is pursuing related business opportunities both upstream
and downstream of the Sabine Pass LNG receiving terminal.
Cheniere is also the founder and holds a 30% limited partner
interest in another LNG receiving terminal.

At March 31, 2010, the Company had total assets of $2,736,643,000
against total current liabilities of $92,018,000; long-term debt,
net of discount of $2,694,013,000; long-term debt-related parties,
net of discount of $361,008,000; deferred revenue of $32,500,000;
other non-current liabilities of $25,793,000; and non-controlling
interest of $210,525,000; resulting in total deficit of
$468,689,000.


CHENIERE ENERGY: Reports $35,167,000 Net Loss for March 31 Qtr
--------------------------------------------------------------
Cheniere Energy, Inc., reported a net loss of $35,167,000 for the
three months ended March 31, 2010, from a net loss of $82,742,000
for the same period in 2009.  Total revenues were $79,517,000 for
the 2010 first quarter from $1,235,000 for the 2009 quarter.

At March 31, 2010, the Company had total assets of $2,736,643,000
against total current liabilities of $92,018,000; long-term debt,
net of discount of $2,694,013,000; long-term debt-related parties,
net of discount of $361,008,000; deferred revenue of $32,500,000;
other non-current liabilities of $25,793,000; and non-controlling
interest of $210,525,000; resulting in total deficit of
$468,689,000.

A full-text copy of the Company's quarterly report on Form 10-Q is
available at no charge at http://ResearchArchives.com/t/s?6230

A full-text copy of the Company's earnings release is available at
no charge at http://ResearchArchives.com/t/s?6231

Cheniere Energy, Inc. (NYSE Amex: LNG) -- http://www.cheniere.com/
-- is a Houston-based energy company primarily engaged in LNG
related businesses, and owns and operates the Sabine Pass LNG
receiving terminal and Creole Trail pipeline in Louisiana.
Cheniere is pursuing related business opportunities both upstream
and downstream of the Sabine Pass LNG receiving terminal.
Cheniere is also the founder and holds a 30% limited partner
interest in another LNG receiving terminal.

At March 31, 2010, the Company had total assets of $2,736,643,000
against total current liabilities of $92,018,000; long-term debt,
net of discount of $2,694,013,000; long-term debt-related parties,
net of discount of $361,008,000; deferred revenue of $32,500,000;
other non-current liabilities of $25,793,000; and non-controlling
interest of $210,525,000; resulting in total deficit of
$468,689,000.


CHENIERE ENERGY: Closes Sale of Freeport LNG Development
--------------------------------------------------------
Cheniere Energy, Inc., on Friday closed the sale of its 30%
limited partner interest in Freeport LNG Development, L.P. for net
proceeds of approximately $104 million to ZHA FLNG Purchaser, LLC,
an entity formed by Zachry American Infrastructure, LLC and
Hastings Funds Management (USA), Inc. on behalf of institutional
investors.

As reported by the Troubled Company Reporter, Cheniere Energy and
Cheniere FLNG, L.P., a wholly owned subsidiary of Cheniere, on
April 21, 2010, entered into a Purchase and Sale Agreement with
Zachry American Infrastructure, LLC, and Hastings Funds Management
(USA), Inc., pursuant to which Cheniere FLNG agreed to sell its
30% limited partner interest in Freeport LNG Development, to a
special purpose entity to be formed which will be an affiliate of
ZAI.

Cheniere Energy, Inc. (NYSE Amex: LNG) -- http://www.cheniere.com/
-- is a Houston-based energy company primarily engaged in LNG
related businesses, and owns and operates the Sabine Pass LNG
receiving terminal and Creole Trail pipeline in Louisiana.
Cheniere is pursuing related business opportunities both upstream
and downstream of the Sabine Pass LNG receiving terminal.
Cheniere is also the founder and holds a 30% limited partner
interest in another LNG receiving terminal.


CHRYSLER LLC: Carco Estate Wants to Preserve Suit vs. Daimler
-------------------------------------------------------------
A bankruptcy judge is weighing whether to dismiss a suit
disgruntled stakeholders in Chrysler LLC castoff Old Carco LLC
brought accusing Daimler AG of stripping valuable assets from the
automaker before handing it off to Cerberus Capital Management LP,
according to Bankruptcy Law360.

                       About Chrysler Group

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

                        About Chrysler LLC

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

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

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


CLAIRE'S STORES: Bank Debt Trades at 15% Off in Secondary Market
----------------------------------------------------------------
Participations in a syndicated loan under which Claire's Stores,
Inc., is a borrower traded in the secondary market at 85.00 cents-
on-the-dollar during the week ended Friday, May 14, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents a drop of 2.82
percentage points from the previous week, The Journal relates.
The Company pays 275 basis points above LIBOR to borrow under the
facility.  The bank loan matures on May 29, 2014, and carries
Moody's Caa2 rating and Standard & Poor's B- rating.    The debt
is one of the biggest gainers and losers among 198 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

Claire's Stores, Inc., posted a net loss of $10,402,000 for the
fiscal year ended Jan. 30, 2010, from a net loss of $643,592,000
for the fiscal year ended Jan. 31, 2009.  Net sales were
$1,342,389,000 for the fiscal year from $1,412,960,000 the prior
year.

Claire's Stores posted net income of $19,465,000 for the fiscal
fourth quarter 2009 from a net loss of $569,537,000 for the fiscal
fourth quarter 2008.  Net sales were $410,691,000 for the quarter
from $393,013,000 the prior quarterly period.

At Jan. 30, 2010, the Company had total assets of $2,834,105,000
against total current liabilities of $181,512,000, long-term debt
of $2,313,378,000, revolving credit facility of $194,000,000,
deferred tax liability of $122,145,000, deferred rent expense of
$22,082,000 and unfavorable lease obligations and other long-term
liabilities of $35,630,000; resulting in stockholders' deficit of
$34,642,000.

Claire's Stores, Inc. -- http://www.clairestores.com/-- operates
as a specialty retailer of fashion accessories and jewelry for
preteens and teenagers, as well as for young adults in North
America and internationally.  It offers jewelry products that
comprise costume jewelry, earrings, and ear piercing services; and
accessories, including fashion accessories, hair ornaments,
handbags, and novelty items.

Based in Pembroke Pines, Florida, Claire's Stores operates under
two brands: Claire's(R), which operates worldwide and Icing(R),
which operates only in North America.  As of Jan. 31, 2009,
Claire's Stores, Inc., operated 2,969 stores in North America and
Europe.  Claire's Stores, Inc., also operates through its
subsidiary, Claire's Nippon, Co., Ltd., 213 stores in Japan as a
50:50 joint venture with AEON, Co., Ltd.  The Company also
franchises 198 stores in the Middle East, Turkey, Russia, South
Africa, Poland and Guatemala.


CLEAR CHANNEL: Bank Debt Trades at 19% Off in Secondary Market
--------------------------------------------------------------
Participations in a syndicated loan under which Clear Channel
Communications, Inc., is a borrower traded in the secondary market
at 80.72 cents-on-the-dollar during the week ended Friday, May 14,
2010, according to data compiled by Loan Pricing Corp. and
reported in The Wall Street Journal.  This represents a drop of
2.06 percentage points from the previous week, The Journal
relates.  The Company pays 365 basis points above LIBOR to borrow
under the facility.  The bank loan matures on Jan. 30, 2016, and
carries Moody's Caa1 rating and Standard & Poor's CCC rating.  The
debt is one of the biggest gainers and losers among 198 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

Clear Channel Communications, Inc. -- http://www.clearchannel.com/
-- is a diversified media company with three primary business
segments: radio broadcasting, outdoor advertising and live
entertainment.  Clear Channel Communications is the operating
subsidiary of San Antonio, Texas-based CC Media Holdings, Inc.


CLENDO LAB: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Clendo Lab, Inc.
        dba Clendo Reference Lab
        No. 58 Santa Cruz Ave.
        Urb. Santa Cruz
        Bayamon, PR 00959

Bankruptcy Case No.: 10-03931

Chapter 11 Petition Date: May 10,2010

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

Debtor's Counsel: Carmen D. Conde Torres, Esq.
                  242 San Jose Street
                  5th Floor
                  San Juan, PR 00901-1523
                  Tel: (787) 729-2900
                  Fax: (787) 729-2203
                  E-mail: notices@condelaw.com

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

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

The petition was signed by Juan Luis Rodriguez Becerra, vice-
president.

Debtor's List of 20 Largest Unsecured Creditors:

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Lab Corp. of America                             $507,298
Paternity Dept.
P.O. Box 8029
Burlington, NC 27216-0642

Emmette Ortiz Diaz                               $500,000
c/o Agustin Collazo
Mojica, Esq.
Banco Popular
Center Suite 1110
209 Munoz Rivera Ave.
San Juan, PR 00918

InternalRevenue Services                         $374,030
P.O. Box 21126
Philadelphia, PA 19114-0326

Genzyme Corporation                              $297,089
c/o Oreste Ramos, Esq.
Pietrantoni Mendez Alvarez
Popular Center
19th Floor
209 Munoz Rivera Ave.
San Juan, PR 00918

Abbott Laboratories P.R. Inc.                    $286,309
c/o Atty. Miguel Maza
Maza & Green
P.O. Box 364028
San Juan, PR 00936-4028

Banco De Desarrolo Economico                     $250,000
De Puerto Rico
P.O. Box 2134
San Juan, PR 00922-2134

Triple S Salud                                   $215,727

Isla Lab Products Corp.                          $174,798

Department of Treasury                           $152,890

Universidad Central Del Caribe                   $139,136

Siemens Healthcare Diagnostics, Inc.             $133,109

CRIM                                             $97,598

Bio-Reference Laboratories                       $97,173

David Gonzalez Milian                            $75,000

AEE                                              $74,034

Municipio de Bayamon                             $74,026

Quest Diagnostics                                $70,000

Beckman Coulter PR, Inc.                         $69,308

Bio Rad Laboratories                             $62,494

Manuel Gonzalez Cosme                            $60,000
Jonathan Padilla Gonzalez


COLUMBIA FEEDERS: Case Summary & 4 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Columbia Feeders, Inc.
        1400 NE 88th Ave
        Vancouver, WA 98664

Bankruptcy Case No.: 10-02832

Chapter 11 Petition Date: May 10, 2010

Court: United States Bankruptcy Court
       Eastern District of Washington (Spokane/Yakima)

Judge: Patricia C. Williams

Debtor's Counsel: Paul H Williams, Esq.
                  Law Office of Paul H. Williams
                  601 North First Street
                  Suite B
                  P.O. Box 123
                  Yakima, WA 98907
                  Tel: (509) 453-4799
                  Fax: (509) 575-3622
                  E-mail: phwatlaw@yahoo.com

Scheduled Assets: $2,560,100

Scheduled Debts: $2,462,256

A list of the Company's 4 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/waeb10-02832.pdf

The petition was signed by Debra Jongeward, president.


COMMUNITY CENTRAL BANK: Defers Trust Preferred Interest Payments
----------------------------------------------------------------
Community Central Bank Corporation (Nasdaq: CCBD), the holding
company for Community Central Bank, has elected to defer regularly
scheduled interest payments on its outstanding $18 million of
junior subordinated notes relating to its trust preferred
securities and the suspension of quarterly cash dividends on its
non-cumulative Series A and cumulative Series B preferred stock.
The terms of the junior subordinated notes and the trust documents
allow the Company to defer payments of interest for up to 20
consecutive quarterly periods without default or penalty.  During
the deferral period, the trust will likewise suspend the
declaration and payment of dividends on the trust preferred
securities.  Also during the deferral period, the Company may not,
among other things and with limited exceptions, pay cash dividends
on or repurchase its common stock or preferred stock nor make any
payment on outstanding debt obligations that rank equally with or
junior to the junior subordinated notes.  Accordingly, the Company
has also suspended the payment of cash dividends on its
outstanding preferred stock.

The Company believes that the deferral of interest payments on the
junior subordinated notes and the suspension of cash dividends on
the preferred stock will preserve approximately $1.8 million per
year.

"Improving our capital ratios is essential for ensuring the health
of the Bank and the Company during these difficult economic times
and is in the best long-term interest of all of our shareholders,"
said David A. Widlak, President and Chief Executive Officer of the
Company. "We believe the actions we have announced today are the
most prudent course for our Company. We would expect to resume
paying dividends when such payments would be consistent with our
overall financial performance and capital requirements."

The failure to make six quarterly dividend payments, whether or
not consecutive, with respect to the Series A preferred stock
would trigger the right of the holders of the Series A preferred
stock to appoint two persons to the board of directors of the
Company.

Community Central Bank Corporation is the holding company for
Community Central Bank in Mount Clemens, Michigan.  The Bank
opened for business in October 1996 and serves businesses and
consumers across Macomb, Oakland, Wayne and St. Clair counties
with a full range of lending, deposit, trust, wealth management,
and Internet banking services.  The Bank operates four full
service facilities, in Mount Clemens, Rochester Hills, Grosse
Pointe Farms and Grosse Pointe Woods, Michigan.  Community Central
Mortgage Company, LLC, a subsidiary of the Bank, operates
locations servicing the Detroit metropolitan area, and Central and
Northwest Indiana. River Place Trust and Community Central Wealth
Management are divisions of Community Central Bank.  Community
Central Insurance Agency, LLC is a wholly owned subsidiary of
Community Central Bank.

At December 31, 2009, CCBC's assets totaled $544 million, and
total stockholders' equity was $24 million.  Plante & Moran, PLLC,
serves as CCBC's outside auditing firm.

As of March 31, 2010, Tom Henderson at Crain's Detroit Business
reports, the bank was considered adequately capitalized by the
Federal Deposit Insurance Corp., a step down from the best rating
of well capitalized.


COMMUNITY HEALTH: Bank Debt Trades at 4% Off in Secondary Market
----------------------------------------------------------------
Participations in a syndicated loan under which Community Health
Systems, Inc., is a borrower traded in the secondary market at
95.59 cents-on-the-dollar during the week ended Friday, May 14,
2010, according to data compiled by Loan Pricing Corp. and
reported in The Wall Street Journal.  This represents a drop of
1.11 percentage points from the previous week, The Journal
relates.  The Company pays 225 basis points above LIBOR to borrow
under the facility.  The bank loan matures on May 1, 2014, and
carries Moody's Ba3 rating and Standard & Poor's BB rating.  The
debt is one of the biggest gainers and losers among 198 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

Based in Franklin, Tennessee, Community Health Systems, Inc. --
http://www.chs.net/-- is the largest publicly traded operator of
hospitals in the United States in terms of number of facilities
and net operating revenues.  The company provides healthcare
services through these hospitals that it owns and operates in non-
urban and selected urban markets throughout the United States.
The company also owns and operates home health agencies, including
four home health agencies located in markets where it does not
operate a hospital.  Through its wholly owned subsidiary, Quorum
Health Resources, LLC, the company provides management and
consulting services to non-affiliated general acute care hospitals
located throughout the United States.


COOPER-STANDARD: CSA Canada Has Order Sanctioning 2nd Amended Plan
------------------------------------------------------------------
Cooper-Standard Automotive Canada Ltd. sought and obtained an
order from the Ontario Superior Court of Justice sanctioning and
approving its Second Amended Plan of Compromise and Arrangement.

The issuance of the order is one of the conditions to the
implementation of CSA Canada's plan.  Other conditions include
the execution of documents needed to implement the plan, and the
satisfaction or waiver of the conditions to the effective date
set out in the Second Amended Chapter 11 plan of U.S.-based
Cooper-Standard Holdings Inc. and its affiliated debtors.

In a six-page order, the Canadian Court authorized CSA Canada to
implement the plan and the transactions contemplated.  It ruled
that all conditions precedent to the implementation stated in
Section 7.1 of CSA Canada's plan will be deemed satisfied or
waived upon the filing of a certificate by RSM Richter Inc.,
declaring that those conditions have been satisfied or waived.

The Canadian Court established the first business day immediately
following the date the certificate is filed as the so-called
"Plan Implementation Date."

The Canadian Court also ruled that the releases and discharges
contained in Article 8 and Article 9 of CSA Canada's Plan will be
effective on the Plan Implementation Date.  All of CSA Canada's
assets and property will be free and clear of charges including
the so-called "administration charge," "directors' charge" and
the "DIP lenders' charge" contained in the Canadian Court's
initial order dated August 4, 2009.

CSA Canada made further amendments to the plan to conform to the
Chapter 11 plan of its U.S. affiliates.  The company's plan
incorporates releases to cure any defaults under its contracts
resulting from the commencement of its case under the Companies'
Creditors Arrangement Act, which may be required to maintain
going concern value.  A full-text copy of CSA Canada's Second
Amended Plan is available for free at:

  http://bankrupt.com/misc/CSHI_CSACan2ndAmendedPlan.pdf

                       About Cooper-Standard

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

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

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

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

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


COOPER-STANDARD: CSA Canada Receives June 7 CCAA Stay Extension
---------------------------------------------------------------
Cooper-Standard Automotive Canada Ltd. sought and obtained a
court order extending the stay of proceedings under the
Companies' Creditors Arrangement Act to June 7, 2010.

CSA Canada's lawyer, Robin Schwill, Esq., at Davies Ward Phillips
& Vineberg LLP, in Toronto, Ontario, said the extension gives CSA
Canada sufficient time to implement its plan of compromise or
arrangement as well as its U.S.-based affiliates to implement
their Chapter 11 plan of reorganization.

RSM Richter Inc., the firm appointed to monitor CSA Canada's
assets, agreed with the extension, saying it will provide the
company the opportunity to implement its plan and to conclude its
restructuring proceeding under the CCAA.

CSA Canada filed its plan of compromise or arrangement in March
while its U.S.-based affiliates filed their Chapter 11 plan in
February.  Both plans are expected to be implemented late this
month or early June.

CSA Canada sought creditor protection under the CCAA on August 4,
2009, a day after its U.S.-based affiliates filed Chapter 11
petitions in the U.S. Bankruptcy Court for the District of
Delaware.  Upon its filing, CSA Canada obtained an order from the
Ontario Superior Court of Justice, prohibiting creditors from
taking legal actions against the company and its properties.

                       About Cooper-Standard

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

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

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

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

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


COOPER-STANDARD: CSA Canada Wants to Discharge Monitor from Duties
------------------------------------------------------------------
Cooper-Standard Automotive Canada Ltd. sought and obtained a
court order discharging RSM Richter Inc. from its duties as
monitor of the company effective as of the Plan Implementation
Date.

In a six-page order, the Ontario Superior Court of Justice
discharged RSM Richter from its duties, provided that they do not
apply to matters that must be completed pursuant to CSA Canada's
plan of compromise or arrangement after the Plan Implementation
Date.

All claims against RSM Richter in connection with the performance
of its duties as monitor or otherwise will be stayed,
extinguished and forever barred and the firm will have no
liability with respect to those claims.  Any person is prohibited
from taking actions or other proceedings against RSM Richter
except with prior leave of the Canadian Court, according to the
order.

                       About Cooper-Standard

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

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

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

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

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


CULLIGAN INT'L: Bank Debt Trades at 17% Off in Secondary Market
---------------------------------------------------------------
Participations in a syndicated loan under which Culligan
International Co. is a borrower traded in the secondary market at
83.00 cents-on-the-dollar during the week ended Friday, May 14,
2010, according to data compiled by Loan Pricing Corp. and
reported in The Wall Street Journal.  This represents a drop of
1.50 percentage points from the previous week, The Journal
relates.  The Company pays 225 basis points above LIBOR to borrow
under the facility.  The bank loan matures on Oct. 16, 2012, and
carries Moody's B3 rating and Standard & Poor's B- rating.  The
debt is one of the biggest gainers and losers among 198 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

Culligan International Co. is a water services provider based in
Rosemont, Illinois.  The company distributes its products
primarily through an extensive dealer network.


DEX MEDIA WEST: Bank Debt Trades at 6% Off in Secondary Market
--------------------------------------------------------------
Participations in a syndicated loan under which Dex Media West LLC
is a borrower traded in the secondary market at 93.55 cents-on-
the-dollar during the week ended Friday, May 14, 2010, according
to data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents a drop of 1.21 percentage points
from the previous week, The Journal relates.  The Company pays 450
basis points above LIBOR to borrow under the facility, which
matures on Oct. 24, 2014.  The debt is not rated by Moody's and
Standard & Poor's.  The debt is one of the biggest gainers and
losers among 198 widely quoted syndicated loans with five or more
bids in secondary trading for the week ended Friday.

Dex Media West LLC is a subsidiary of Dex Media West, Inc., and an
indirect wholly owned subsidiary of Dex Media, Inc.  Dex Media is
a direct wholly owned subsidiary of R.H. Donnelley Corporation.
Dex Media West is the exclusive publisher of the official yellow
pages and white pages directories for Qwest Corporation, the local
exchange carrier of Qwest Communications International Inc., in
Arizona, Idaho, Montana, Oregon, Utah, Washington, and Wyoming.

R.H. Donnelley Corp. and 19 of its affiliates, including Dex Media
East LLC, Dex Media West LLC and Dex Media Inc., filed for Chapter
11 protection on May 28, 2009 (Bank. D. Del. Case No. 09-11833
through 09-11852), after missing a $55 million interest payment on
its senior unsecured notes due April 15.  James F. Conlan, Esq.,
Larry J. Nyhan, Esq., Jeffrey C. Steen, Esq., Jeffrey E. Bjork,
Esq., and Peter K. Booth, Esq., at Sidley Austin LLP, in Chicago,
Illinois represent the Debtors in their restructuring efforts.
Edmon L. Morton, Esq., and Robert S. Brady, Esq., at Young,
Conaway, Stargatt & Taylor LLP, in Wilmington, Delaware, serve as
the Debtors' local counsel.  The Debtors' financial advisor is
Deloitte Financial Advisory Services LLP while its investment
banker is Lazard Freres & Co. LLC.  The Garden City Group, Inc.,
is claims and noticing agent.

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


DIETRICH'S SPECIALTY: Case Summary & Creditors List
---------------------------------------------------
Debtor: Dietrich's Specialty Processing LLC
        61 Vanguard Drive
        Reading, PA 19606

Bankruptcy Case No.: 10-21399

Chapter 11 Petition Date: May 10, 2010

Court: U.S. Bankruptcy Court
       Eastern District of Pennsylvania (Reading)

Judge: Richard E. Fehling

Debtor's Counsel: Dexter K. Case, Esq.
                  Case, DiGiamberardino & Lutz, P.C.
                  845 North Park Road, Suite 101
                  Wyomissing, PA 19610
                  Tel: (610) 372-9900
                  Fax: (610) 372-5469
                  E-mail: dkc@cdllawoffice.com

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

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

The petition was signed by Thomas W. Dietrich, president.

Debtor's List of 20 Largest Unsecured Creditors:

        Entity                      Nature of Claim   Claim Amount
        ------                      ---------------   ------------
Principal Financial Service         --                    $161,636
111 W State St
Mason City, IO 50401

Hartford Fire Insurance Co          --                    $144,324
One Hartford Plaza
Hartford, CT 06155

UGI Energy Services Inc.            --                    $130,486
One Meridian Blvd Ste 2C01
Wyomissing, PA 19610

UGI Utilities                       --                    $109,680

Chemserve Inc.                      --                    $100,578

Richard M. Kline & Son Inc.         --                     $83,374

Met-Ed                              --                     $55,061

North Lawrence Dairy, Inc.          --                     $45,122

Highlife Properties LLC             --                     $29,050

Natural Dairy Products Corp         --                     $26,497

Hill Wallack LLP                    --                     $24,296

Highmark Blue Shield                --                     $21,761

CitiBusiness Card                   --                     $20,141

Reinsel Kuntz Lesher                --                     $15,472

Berkshire Dairy and Food Products   --                     $13,543
Inc.

Delval Equipment Corporation        --                     $12,183

Cintas Corporation                  --                     $11,547

St Albans Cooperative Creamery      --                     $11,059
Inc.

Clover Farms Dairy Co.              --                     $10,000

Dairyland Packaging                 --                      $7,196


DREIER LLP: S.D.N.Y. Blocks Creditors' Derivative Claims
--------------------------------------------------------
WestLaw reports that a bankruptcy court had subject matter
jurisdiction to bar the general creditors of related Chapter 7 and
Chapter 11 estates from seeking to recover their claims from the
funds that were transferred prepetition to the transferee of
alleged fraudulent transfers, through the extension of the
automatic stay pursuant to a settlement between the trustees and
the transferee, where the creditors' claims were based on the
debtors' misconduct, and there was no independent basis for an
action against the transferee other than its receipt of the
transfers.  The court, however, lacked subject matter jurisdiction
to issue an order, in connection with the settlement, that barred
any direct claims which the creditors and parties in interest in
the two bankruptcy cases might have against the transferee, based
upon the transferee's own wrongful conduct relating to a debtor or
the underlying promissory notes.  Such claims would not affect the
property of either estate or the administration of those estates
beyond the transferee's insistence on the bar order.  In re Dreier
LLP, --- B.R. ----, 2010 WL 1707737 (Bankr. S.D.N.Y.).

                        About Dreier LLP

Marc Dreier founded New York-based law firm Dreier LLP --
http://www.dreierllp.com/-- in 1996.

On December 8, 2008, the U.S. Securities and Exchange Commission
filed a suit, alleging that Mr. Dreier made fraudulent offers and
sales of securities in several cities, selling fake promissory
notes to hedge and other private investment funds.  The SEC
asserted that Mr. Dreier also distributed phony financial
statements and audit opinions, and recruited accomplices in
connection with that scheme.  Mr. Dreier has been charged by the
U.S. government for conspiracy, securities fraud and wire fraud
before the U.S. District Court for the Southern District of New
York (Manhattan) (Case No. 09-cr-00085-JSR).

Dreier LLP sought chapter 11 protection (Bankr. S.D.N.Y. Case No.
08-15051) on Dec. 16, 2008.  Stephen J. Shimshak, Esq., at Paul,
Weiss, Rifkind, Wharton & Garrison LLP, has been retained as
counsel.  The Debtor listed assets between $100 million and
$500 million, and debts between $10 million and $50 million in
its filing.

Wachovia Bank National Association, Sheila M. Gowan as trustee for
Dreier LLP's Chapter 11 Estate, and Steven J. Reisman as post-
confirmation representative of the bankruptcy estate of
360networks (USA) Inc. signed a petition that put Mr. Dreier into
bankruptcy under Chapter 7 on January 26, 2009 (Bankr. S.D.N.Y.
Case No. 09-10371).


EINSTEIN NOAH: Board OKs Appointment of Manny Hilario as CFO
------------------------------------------------------------
The Board of Directors of Einstein Noah Restaurant Group, Inc.,
approved the appointment of Emanuel "Manny" P.N. Hilario as Chief
Financial Officer of the Company, effective May 5, 2010.

Mr. Hilario, 42, previously served as the Founder and Managing
Director of Koios Path, LLC, a management advisory and consulting
services company from May 2009 until May 2010. Prior to that, he
served as chief financial officer of McCormick & Schmick's Seafood
Restaurants, Inc. from April 2004 until May 2009, and was elected
to their Board of Directors in May 2007 where he served as a
Director until July 2009.

Mr. Hilario and the Company entered into an employment offer
letter dated May 5, 2010.  Pursuant to the offer letter, Mr.
Hilario will receive an annual salary of $285,000, and will be
eligible to earn an annual cash target bonus of 75% of his base
salary.  The actual amount of the bonus will be based on the
Company's EBITDA performance and Mr. Hilario's individual
performance.  Mr. Hilario also will be entitled to receive
vacation, health and other benefits available to the Company's
employees generally.  The Company has agreed to provide Mr.
Hilario with a one-time payment of $50,000 for relocation expenses
and temporary housing in Colorado for a period of up to 12 months.

Mr. Hilario will be entitled to severance payments in an amount
equal to six months' salary if his employment terminates for any
reason, other than cause (as defined in the offer letter) prior to
his permanent relocation to Colorado.  Once Mr. Hilario has
relocated permanently to Colorado, the severance payments will
increase to an amount equal to one year's salary if his employment
terminates for any reason, other than cause.

Pursuant to the terms of the offer letter, Mr. Hilario will be
granted an option to purchase 60,000 shares of the Company's
common stock with a strike price based on the stock price at the
close of the market on the date of grant. The option will vest and
become exercisable in three equal annual installments on the
first, second and third anniversaries of the grant date provided
that Mr. Hilario remains employed by the Company.

There are no family relationships or related party transactions
involving Mr. Hilario and the Company.

               About Einstein Noah Restaurant Group

Einstein Noah Restaurant Group (NASDAQ: BAGL) --
http://www.einsteinnoah.com/-- is a leading company in the quick
casual restaurant industry that operates locations primarily under
the Einstein Bros.(R) Bagels and Noah's New York Bagels(R) brands
and primarily franchises locations under the Manhattan Bagel(R)
brand.  The company's retail system consists of more than 690
restaurants, including more than 175 license locations, in 38
states plus the District of Columbia.  It also operates a dough
production facility.

At March 30, 2010, the Company had total assets of $211.532
million against total liabilities of $137.250 million, resulting
in stockholders' equity of $63.715 million.  The March 30, 2010
balance sheet showed strained liquidity: The Company had total
current assets of $35.995 million against total current
liabilities of $50.579 million.

This concludes the Troubled Company Reporter's coverage of
Einstein Noah until facts and circumstances, if any, emerge that
demonstrate financial or operational strain or difficulty at a
level sufficient to warrant renewed coverage.


EINSTEIN NOAH: Reports Results of May 4 Annual Meeting
------------------------------------------------------
The Annual Meeting of Shareholders of Einstein Noah Restaurant
Group, Inc., was held on May 4, 2010.  Each of the nominees was
re-elected as a director to hold office until the next Annual
Meeting of Shareholders or until his successor is elected and
qualified:

     * Michael W. Arthur;
     * E. Nelson Heumann;
     * Frank C. Meyer;
     * Thomas J. Mueller;
     * Jeffrey J. O'Neill; and
     * S. Garrett Stonehouse, Jr.

The shareholders also ratified the appointment of Grant Thornton
LLP, an independent registered public accounting firm, as
independent auditors for the Company for the fiscal year ending
December 28, 2010.

               About Einstein Noah Restaurant Group

Einstein Noah Restaurant Group (NASDAQ: BAGL) --
http://www.einsteinnoah.com/-- is a leading company in the quick
casual restaurant industry that operates locations primarily under
the Einstein Bros.(R) Bagels and Noah's New York Bagels(R) brands
and primarily franchises locations under the Manhattan Bagel(R)
brand.  The company's retail system consists of more than 690
restaurants, including more than 175 license locations, in 38
states plus the District of Columbia.  It also operates a dough
production facility.

At March 30, 2010, the Company had total assets of $211.532
million against total liabilities of $137.250 million, resulting
in stockholders' equity of $63.715 million.  The March 30, 2010
balance sheet showed strained liquidity: The Company had total
current assets of $35.995 million against total current
liabilities of $50.579 million.

This concludes the Troubled Company Reporter's coverage of
Einstein Noah until facts and circumstances, if any, emerge that
demonstrate financial or operational strain or difficulty at a
level sufficient to warrant renewed coverage.


EINSTEIN NOAH: Reports $600,000 Net Income for 2010 First Quarter
-----------------------------------------------------------------
Einstein Noah Restaurant Group, Inc., reported financial results
for the first quarter ended March 30, 2010:

    * Total revenues rose slightly to $100.8 million from $100.4
      million.

    * Total gross margin improved 230 basis points to 18.7% due to
      strong cost controls as well as a substantial improvement in
      manufacturing and commissary profitability.

    * Adjusted EBITDA improved to $8.7 million from $7.1 million.

    * Adjusted net income and adjusted EPS on a dilutive basis
      improved to $1.5 million and $0.09, respectively, from
      $1.2 million and $0.07, respectively.

    * Net income was $600,000 and diluted EPS was $0.03 for the
      first quarter of 2010.

    * Redeemed $13.2 million in Series Z Preferred Stock.

At March 30, 2010, the Company had total assets of $211.532
million against total liabilities of $137.250 million, resulting
in stockholders' equity of $63.715 million.  The March 30, 2010
balance sheet showed strained liquidity: The Company had total
current assets of $35.995 million against total current
liabilities of $50.579 million.

Jeff O'Neill, Chief Executive Officer and President of Einstein
Noah, stated, "Our first quarter performance underscores our
successful execution of key sales and cost control strategies, and
builds on our strong foundation of long-term growth opportunities.
For the quarter, product innovation and creative promotions drove
improvement in system-wide comparable sales and transactions, and
we were pleased that consumers responded positively to our check
building efforts despite intensifying competition in the breakfast
daypart. We also improved our gross margins through our supply
chain initiatives, and realized efficiencies in our manufacturing
and store-level operations, which together facilitated 25.9%
growth in adjusted net income for the period."

Mr. O'Neill continued, "Our cash flow generation is enabling us to
meet or exceed our financial obligations, and is a major
contributor to a strong and flexible capital structure. We intend
to stay focused on this metric as we move toward a more asset
light business model, characterized by accelerated franchise and
licensing development and limited Company expansion. We believe
this strategy is the surest means to maximize shareholder value
over time."

Restaurant openings during the first quarter of 2010 consisted of
10 outlets, including three Einstein Bros. company-owned
restaurants, one Manhattan Bagel and one Einstein Bros. franchise
restaurants, and five Einstein Bros. licensed restaurants. One
company-owned restaurant and one licensed restaurant were also
closed during the period.

The Company benefited from a net increase of eight additional
franchise restaurants and 25 license restaurants since March 31,
2009. The effect of the new locations helped drive franchise and
license related revenues up 16.7% to $2.2 million in the first
quarter of 2010 from $1.8 million in the first quarter of 2009.

During the first quarter of 2010, the Company extended the
redemption date for its Series Z Preferred stock held by Halpern
Denny III, L.P. and committed to redeem all remaining outstanding
shares, inclusive of the accrued additional redemption price, on
or before June 30, 2011.  The Company redeemed $13.2 million plus
additional redemption in the first quarter of 2010 and expects $12
million to $15 million of the Series Z Preferred stock to be
outstanding on June 30, 2010.  The previous redemption date was
June 30, 2010.  The amended agreement had an impact of $900,000
during the quarter resulting in net income of $600,000 and diluted
EPS of $0.03.

                           2010 Outlook

The Company anticipates the opening of 10 to 12 new company-owned
restaurants, 12 to 16 new franchised restaurants, and 35 to 45
licensed restaurants.

The Company currently has 15 signed development agreements for
Einstein Bros. Bagels franchises.  This coupled with the efforts
to sign additional development agreements in 2010 is expected to
ultimately yield an ending pipeline of 90 to 100 additional
franchise locations.

Through the end of the quarter, the Company has secured contract
pricing on approximately 53% of all major agricultural commodities
for the remainder of 2010, which should result in favorable prices
compared to 2009, along with an opportunity to benefit from
further reductions in the market.

A full-text copy of the Company's earnings release is available at
no charge at http://ResearchArchives.com/t/s?6232

A full-text copy of the Company's quarterly report on Form 10-Q is
available at no charge at http://ResearchArchives.com/t/s?6202

               About Einstein Noah Restaurant Group

Einstein Noah Restaurant Group (NASDAQ: BAGL) --
http://www.einsteinnoah.com/-- is a leading company in the quick
casual restaurant industry that operates locations primarily under
the Einstein Bros.(R) Bagels and Noah's New York Bagels(R) brands
and primarily franchises locations under the Manhattan Bagel(R)
brand.  The company's retail system consists of more than 690
restaurants, including more than 175 license locations, in 38
states plus the District of Columbia.  It also operates a dough
production facility.

This concludes the Troubled Company Reporter's coverage of
Einstein Noah until facts and circumstances, if any, emerge that
demonstrate financial or operational strain or difficulty at a
level sufficient to warrant renewed coverage.


EMERALD POINTE: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Emerald Pointe, Ltd
        dba Christopher House
        dba Manor House
        100 S. Cleveland
        Wenatchee, WA 98801

Bankruptcy Case No.: 10-02848

Chapter 11 Petition Date: May 10, 2010

Court: United States Bankruptcy Court
       Eastern District of Washington (Spokane/Yakima)

Debtor's Counsel: Jonathan G. Basham, Esq.
                  745 NW Mt Washington Drive Suite 308
                  Bend, OR 97701
                  Tel: (541) 385-0914
                  Fax: (541) 385-0988
                  E-mail: jgbasham100@bendbroadband.com

Scheduled Assets: $2,125,691

Scheduled Debts: $2,473,418

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/waeb10-02848.pdf

The petition was signed by Cecil P. Wilson III, president.


EUFRESINA BOADO: Case Summary & 18 Largest Unsecured Creditors
--------------------------------------------------------------
Joint Debtors: Eufresina de Leon Boado
                 aka Ann Boado
               Arthur Basa Boado, Sr.
               4549 Oakdale Street
               Union City, CA 94587

Bankruptcy Case No.: 10-45356

Chapter 11 Petition Date: May 10, 2010

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

Judge: Leslie J. Tchaikovsky

Debtor's Counsel: Kenneth R. Graham, Esq.
                  Law Office of Kenneth R. Graham
                  171 Mayhew Way #208
                  Pleasant Hill, CA 94523
                  Tel: (925) 932-0170
                  E-mail: krg@elaws.com

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

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

A copy of the Joint Debtors' list of 18 largest unsecured
creditors filed together with the petition is available for free
at http://bankrupt.com/misc/canb10-45356.pdf

The petition was signed by the Joint Debtors.


EXTENDED STAY: Bidding For Assets Is Robust, Advisers Say
---------------------------------------------------------
The bidding process in Extended Stay Inc. has garnered strong
interests from certain quarters, according to Reuters.

"The process has been very active and quite robust," Reuters
quoted Saul Burian, a managing director at Houlihan Lokey, as
saying.  Houlihan Lokey is retained by Centerbridge Partners LP
in connection with its bid for Extended Stay.

Ari Lefkovits of Lazard Freres & Co LLC, the company's financial
adviser, said his firm has approached more than 90 parties to
solicit bids for Extended Stay, Reuters related.

Bids for Extended Stay are due on May 17 and an auction has been
scheduled for May 27.

An offer from Centerbridge Partners, Paulson & Co. and Blackstone
Real Estate Associates VI L.P. will serve as the "stalking horse
bid" or the lead bid at the auction.

Centerbridge and Paulson made a $905 million offer for Extended
Stay, which includes $450 million in cash and a $200 million pool
to backstop a rights offering.  The Centerbridge/Paulson group
agreed to assign a portion of their commitment to sponsor the
Extended Stay Chapter 11 Plan to Blackstone.

The Centerbridge offer, which matched the proposal of a group of
investors led by Starwood Capital Group, allows Extended Stay to
seek better offers from other potential investors.  It also
eliminates a $19.5 million fee and certain other provisions under
the Starwood proposal.

Extended Stay's attorney, Jacqueline Marcus, Esq., at Weil
Gotshal & Manges LLP, in New York, told Reuters that Starwood is
expected to enter a new bid before the May 17 deadline.

Ms. Marcus said Extended Stay will make changes to its
restructuring plan based on the outcome of the auction, according
to a May 13 report by Bloomberg News.  The company expects to
seek Court approval of the plan at a July 20 hearing.

                 Starwood to Tap Goldman Sachs;
                  Centerbridge to Tap JPMorgan

The Starwood group is close to a deal that would allow it to
avail $2.2 billion from Goldman Sachs Group Inc. to finance its
bid for Extended Stay, according to a May 10 report by The Wall
Street Journal.

About $1 billion of the money would come from Citigroup Inc.,
Goldman Sachs' partner in the deal, WSJ reported, citing people
familiar with the matter.

A financing from Goldman Sachs would allow the Starwood group to
submit a new offer that would be especially favorable for
Extended Stay's senior creditors.  With Goldman Sach's financing,
the Starwood group plans to submit an all-cash offer that would
pay off senior creditors while wiping out some junior creditors,
the report noted.

People familiar with the matter said the value of the alternative
offer has not yet been determined because the Starwood group is
still deciding how much equity to put into it, WSJ reported.

Meanwhile, a May 10 report by Bloomberg News revealed that the
Centerbridge group is also in talks with JPMorgan Chase & Co. and
Deutsche Bank AG to provide about $2 billion to finance the
group's bid.

Centerbridge's deal with the banks, which would be backed by
Extended Stay's real estate, has not been completed, Bloomberg
News noted, citing people familiar with the matter.

                        About Extended Stay

Extended Stay is the largest owner and operator of mid-price
extended stay hotels in the United States, holding one of the most
geographically diverse portfolios in the lodging sector with
properties located across 44 states (including 11 hotels located
in New York) and two provinces in Canada.  As a result of
acquisitions and mergers, Extended Stay's portfolio has expanded
to encompass over 680 properties, consisting of hotels directly
owned or leased by Extended Stay or one of its affiliates.
Extended Stay currently operates five hotel brands: (i) Crossland
Economy Studios, (ii) Extended Stay America, (iii) Extended Stay
Deluxe, (iv) Homestead Studio Suites, and (v) StudioPLUS Deluxe
Studios.

Extended Stay Inc. and its affiliates filed for Chapter 11 on
June 15, 2009 (Bankr. S.D.N.Y. Case No. 09-13764).  Judge James M.
Peck handles the case.  Marcia L. Goldstein, Esq., at Weil Gotshal
& Manges LLP, in New York, represents the Debtors.  Lazard Freres
& Co. LLC is the Debtors' financial advisors.  Kurtzman Carson
Consultants LLC is the claims agent. Extended Stay had assets of
$7.1 billion and debts of $7.6 billion as of the end of 2008.

Bankruptcy Creditors' Service, Inc., publishes Extended Stay
Bankruptcy News.  The newsletter provides gavel-to-gavel coverage
of the Chapter 11 proceedings undertaken by Extended Stay Inc. and
its various affiliates. (http://bankrupt.com/newsstand/or
215/945-7000).


EXTENDED STAY: Seeks Nod for Investment Pact with Winning Bidder
----------------------------------------------------------------
Bankruptcy Judge Peck for the Southern District of New York
previously issued an order in late April, authorizing Extended
Stay Inc. to hold an auction on May 27, 2010, to select the best
bid for the sponsorship and funding of a plan of reorganization
for ESA Properties LLC and 73 other debtor affiliates.

Pursuant to the Auction Order, interested bidders were required
to submit a proposal, which should include a mark-up of the plan
and the investment and standby purchase agreement form the
Debtors provided to interested bidders.  The Debtors and the
winning bidder at the auction will finalize those Plan documents
to memorialize the terms of the winning bid.

The Existing Plan Documents are premised on the transaction
between the Debtors and CP ESH Investors LLC, a newly formed
entity owned by a consortium of investors consisting of
Centerbridge Partners L.P., Paulson & Co. Inc. and Blackstone
Real Estate Associates VI L.P.

CP ESH's offer provides for an investment of up to $905 million
consisting of a $450 million equity investment and a $200 million
rights offering, which is fully backstopped by the Centerbridge-
led group.  It also provides for a $255.4 million pool to be made
available to holders of certificates secured by the Debtors' pre-
bankruptcy $4.1 billion mortgage loan who would prefer to receive
cash in lieu of equity.

The Debtors and the Centerbridge-led group have decided to
proceed with the auction to facilitate the competitive bidding
process and provide a formal mechanism for the Debtors to
entertain and obtain higher or better offers.

At the close of the auction, the Debtors will select the winning
bid in consultation with the Official Committee of Unsecured
Creditors and U.S. Bank N.A., and will proceed to confirmation of
the Fourth Amended Plan reflecting the winning bid.

Jacqueline Marcus, Esq., at Weil Gotshal & Manges LLP, in New
York, says the Debtors expect the auction to result in the
greatest recoveries for their creditors and to bring finality to
their Chapter 11 cases.

In this light, the Debtors ask the Bankruptcy Court to:

  (1) approve an investment and standby purchase agreement
      reflecting the terms of the winning bid;

  (2) approve the Existing Plan Documents reflecting the
      successful bid, including the Debtors' payment to the
      winning bidder of all consideration, fees and expenses
      contemplated under the investment agreement;

  (3) deem any amounts the Debtors are obligated to pay to the
      winning bidder as expenses that constitute administrative
      expenses of the Debtors' estates; and

  (4) authorize them to indemnify the winning bidder and that
      bidder's representatives from losses, claims and
      liabilities.

In case the terms of the winning bid are different from the terms
of the Existing Plan Documents, the Debtors will file a further
revised plan and disclosure statement prior to the hearing for
the approval of the Disclosure Statement, according to Ms.
Marcus.

Judge Peck is set to consider the Debtors' requests at a June 17,
2010 hearing.  Deadline for the filing of objections to the
requests, if any, is June 10, 2010.

                        About Extended Stay

Extended Stay is the largest owner and operator of mid-price
extended stay hotels in the United States, holding one of the most
geographically diverse portfolios in the lodging sector with
properties located across 44 states (including 11 hotels located
in New York) and two provinces in Canada.  As a result of
acquisitions and mergers, Extended Stay's portfolio has expanded
to encompass over 680 properties, consisting of hotels directly
owned or leased by Extended Stay or one of its affiliates.
Extended Stay currently operates five hotel brands: (i) Crossland
Economy Studios, (ii) Extended Stay America, (iii) Extended Stay
Deluxe, (iv) Homestead Studio Suites, and (v) StudioPLUS Deluxe
Studios.

Extended Stay Inc. and its affiliates filed for Chapter 11 on
June 15, 2009 (Bankr. S.D.N.Y. Case No. 09-13764).  Judge James M.
Peck handles the case.  Marcia L. Goldstein, Esq., at Weil Gotshal
& Manges LLP, in New York, represents the Debtors.  Lazard Freres
& Co. LLC is the Debtors' financial advisors.  Kurtzman Carson
Consultants LLC is the claims agent. Extended Stay had assets of
$7.1 billion and debts of $7.6 billion as of the end of 2008.

Bankruptcy Creditors' Service, Inc., publishes Extended Stay
Bankruptcy News.  The newsletter provides gavel-to-gavel coverage
of the Chapter 11 proceedings undertaken by Extended Stay Inc. and
its various affiliates. (http://bankrupt.com/newsstand/or
215/945-7000).


EXTENDED STAY: Seeks Approval of Disclosure Statement
-----------------------------------------------------
ESA Properties LLC and 73 of its affiliated debtors ask the U.S.
Bankruptcy Court for the Southern District of New York to approve
the Disclosure Statement they filed on April 23, 2010, as
containing adequate information and meeting the requirements of
Section 1125 of the Bankruptcy Code.

The current version of the Disclosure Statement describes the
Debtors' Fourth Amended Joint Plan of Reorganization, which
hinges on the proposal submitted by Centerbridge Partners L.P.,
Paulson & Co. Inc. and Blackstone Real Estate Associates VI L.P.

Jacqueline Marcus, Esq., at Weil Gotshal & Manges LLP, in New
York, asserts the Disclosure Statement contains information
considered necessary for creditors to make an informed judgment
on the Fourth Amended Plan.

The Disclosure Statement, Ms. Marcus maintains, provides:

  (1) an overview of the Fourth Amended Plan;

  (2) an explanation of the available assets and their value;

  (3) a description of the Debtors' business operations;

  (4) the indebtedness of the Debtors and information regarding
      pending claims and administrative expenses;

  (5) a disclaimer, which indicates that no statements or
      information concerning the Debtors or their assets or
      securities are authorized, other than those set forth in
      the Disclosure Statement;

  (6) a disclosure of the key events leading to the commencement
      of the Debtors' Chapter 11 cases;

  (7) information on the significant events that occurred during
      the Debtors' Chapter 11  cases;

  (8) financial valuations and pro forma projections;

  (9) an overview of a liquidation analysis under chapter 7;

(10) risk factors affecting the Debtors;

(11) the relationship of the Debtors with their affiliates;

(12) data on the requirements for confirmation of the Plan; and

(13) data on tax consequences of the Plan.

The Court will consider approval of the Fourth Amended Disclosure
Statement on June 17, 2010.  Deadline for filing objections is
June 10, 2010.

Objections and responses to the Disclosure Statement must be in
writing; must contain the name of the objecting party, the nature
and amount of claims or interests held or asserted; and must
provide the basis for the objection.

The Debtors also seek the Court's authority to implement a process
for the solicitation of votes in connection with their Fourth
Amended Joint Chapter 11 Plan of Reorganization.

The Debtors also ask the Court to set:

  (a) June 17, 2010, as the record date for purposes of
      determining which creditors and interest holders may vote
      on the Fourth Amended Plan or otherwise receive a notice
      of non-voting status;

  (b) July 7, 2010, as the deadline for creditors and interest
      holders entitled to vote to submit their ballots;

  (c) July 20, 2010, as the hearing date to consider
      confirmation of the Fourth Amended Plan; and

  (d)  July 13, 2010, as the deadline for filing objections or
      response to confirmation of the Plan.

                    Solicitation Procedures

The Debtors intend to mail solicitation packages to creditors
listed in their schedules of assets and liabilities and those
that filed proofs of claim, equity interest holders and other
concerned parties within five days after the entry of an order
approving the solicitation procedures.

Creditors entitled to vote will receive a solicitation package
containing a copy of the notice of the confirmation hearing;
court order on the disclosure statement; the disclosure
statement; and a ballot customized for that voting creditor.

Creditors or interest holders who are not entitled to vote will
receive a notice of the confirmation hearing and a notice of non-
voting status.

The Debtors also intend to distribute to voting creditors ballots
conforming to Official Bankruptcy Form No. 14.

The Debtors will follow the same tabulation process, which they
previously presented to the Court for approval.

                  Creditors Entitled to Vote

Only creditors with claims under Classes 2 to 5 are entitled to
vote on the Plan.

Creditors that are not listed in the Debtors' schedules and that
did not file a proof of claim on or before January 15, 2010, are
not entitled to vote.  If the Debtors did not schedule a
government unit's claim and the latter did not file a proof of
claim, such government unit will not be entitled to vote.

The Debtors propose that each claim within the voting classes be
temporarily allowed in an amount equal to the amount of that
claim as stated in the schedules for voting purposes only.

If any creditor seeks to challenge the allowance of its claim for
voting purposes, that creditor is required to file with the Court
on or before July 7, 2010, a motion for an order pursuant to Rule
3018(a) of the Federal Rules of Bankruptcy Procedure temporarily
allowing its claim for voting purposes in a different amount.

               Approval of the Rights Certificate

Pursuant to the Fourth Amended Plan, holders of the Class B-K
Mortgage Certificates as of June 17, 2010, issued under the
Debtors' prepetition mortgage loan agreement have the right to
subscribe for common interests in the new holding company, NewCo,
to be organized as of the effective date of the Fourth Amended
Plan.  In connection with this, the Debtors propose to distribute
rights certificates.

If the offer from Centerbridge Partners L.P., Paulson & Co. Inc.
and Blackstone Real Estate Associates VI L.P. is selected as the
winning bid, or if the winning bid contemplates a substantially
similar rights offering, any holder of the Class B-K Mortgage
Certificates choosing to participate in the rights offering may
indicate its commitment to exercise all or a portion of its the
rights.

The Debtors also propose to distribute along with the rights
certificates a document detailing procedures for and information
about the rights offering and the exercise of rights.

The rights offering will commence within three days after receipt
of the rights certificates by U.S. Bank National Association and
the trust it administers, and will expire five days after the
voting deadline.

In order to facilitate the "Class B-H elections" and the exercise
of the rights, the Debtors ask Judge Peck to direct U.S. Bank and
the trust it administers to convey the form on which the holders
of the Class B-H Mortgage Certificates can make elections as well
as the rights certificates, to the holders of those certificates.

The Court will consider approval of the Debtors' request at a
hearing scheduled for June 17, 2010.  Deadline for filing
objections is June 10, 2010.

                        About Extended Stay

Extended Stay is the largest owner and operator of mid-price
extended stay hotels in the United States, holding one of the most
geographically diverse portfolios in the lodging sector with
properties located across 44 states (including 11 hotels located
in New York) and two provinces in Canada.  As a result of
acquisitions and mergers, Extended Stay's portfolio has expanded
to encompass over 680 properties, consisting of hotels directly
owned or leased by Extended Stay or one of its affiliates.
Extended Stay currently operates five hotel brands: (i) Crossland
Economy Studios, (ii) Extended Stay America, (iii) Extended Stay
Deluxe, (iv) Homestead Studio Suites, and (v) StudioPLUS Deluxe
Studios.

Extended Stay Inc. and its affiliates filed for Chapter 11 on
June 15, 2009 (Bankr. S.D.N.Y. Case No. 09-13764).  Judge James M.
Peck handles the case.  Marcia L. Goldstein, Esq., at Weil Gotshal
& Manges LLP, in New York, represents the Debtors.  Lazard Freres
& Co. LLC is the Debtors' financial advisors.  Kurtzman Carson
Consultants LLC is the claims agent. Extended Stay had assets of
$7.1 billion and debts of $7.6 billion as of the end of 2008.

Bankruptcy Creditors' Service, Inc., publishes Extended Stay
Bankruptcy News.  The newsletter provides gavel-to-gavel coverage
of the Chapter 11 proceedings undertaken by Extended Stay Inc. and
its various affiliates. (http://bankrupt.com/newsstand/or
215/945-7000).


FAIRPOINT COMMS: Bank Debt Trades at 19% Off in Secondary Market
----------------------------------------------------------------
Participations in a syndicated loan under which FairPoint
Communications, Inc., is a borrower traded in the secondary market
at 80.81 cents-on-the-dollar during the week ended Friday, May 14,
2010, according to data compiled by Loan Pricing Corp. and
reported in The Wall Street Journal.  This represents a drop of
2.54 percentage points from the previous week, The Journal
relates.  The Company pays 275 basis points above LIBOR to borrow
under the facility, which matures on March 31, 2015.  Moody's has
withdrawn its rating, while Standard & Poor's has assigned a
default rating on the bank debt.  The debt is one of the biggest
gainers and losers among 198 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended Friday.

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. D. Del. 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)


FORD MOTOR: Leads Industry in Perceived Quality Gains
-----------------------------------------------------
Ford Motor Company achieved the largest gain of any automaker in
Automotive Lease Guide's latest Perceived Quality Score, bringing
customer perceptions more in line with Ford's improved vehicle
quality.

Ford this month was ranked as the most improved brand in the ALG
study, showing a 7.6 percent improvement since fall 2009, building
on gains over the past two years.  Improving perceptions of Ford's
quality has been a key driver behind Ford's recent market share
gains and improving resale value.

"We have made huge strides in vehicle quality in recent years but
customer perceptions don't change overnight - so it is gratifying
to see our real-world improvements begin to fully register with
consumers," said Jim Farley, Ford's group vice president, Global
Marketing. "The benefits of improved perception of quality are
huge - from market share to residual values and purchase
considerations."

ALG noted that Ford residuals have seen a "huge upswing."  Ford's
average residual gained $2,420 (January-June 2010 residual guides)
compared to the year-ago period; the average brand change was
about $615.

"Ford's goals have been supported by an entire portfolio of all-
new or redesigned products that have been well-received both in
the marketplace and among automotive critics," said Matt Traylen,
chief economist for ALG.

ALG said Ford's improvement in perceived quality likely can be
traced to several factors:

Ford has improved its vehicle quality and launched well-received
new products

Ford avoided bankruptcy and a taxpayer bailout unlike its domestic
competitors

Ford limited brand-damaging incentive spending and daily rental
fleet sales

ALG noted in particular that the new Ford Taurus and Fiesta have
been well received by the press and public.

"Customers want to see that you can be reliable in your quality
month after month, year after year," Farley said.  "Demonstrating
steady improvements in initial and long-term durability over time
is helping us close the gap between perception and reality."

                         About Ford Motor

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

At December 31, 2009, the Company had US$194.850 billion in total
assets against US$201.365 billion in total liabilities.  Total
deficit attributable to Ford Motor at December 31, 2009, was
US$7.820 billion.

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

In March 2010, Moody's Investors Service raised Ford's Corporate
Family Rating (CFR) and Probability of Default Rating (PDR) to B2
from B3, secured credit facility to Ba2 from Ba3, senior unsecured
debt to B3 from Caa1, trust preferred to Caa1 from Caa2, and
Speculative Grade Liquidity rating to SGL-2 from SGL-3. Also
raised is Ford Credit's senior debt rating to B1 from B2.

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


FREESCALE SEMICON: Bank Debt Trades at 9% Off in Secondary Market
-----------------------------------------------------------------
Participations in a syndicated loan under which Freescale
Semiconductor, Inc., is a borrower traded in the secondary market
at 90.96 cents-on-the-dollar during the week ended Friday, May 14,
2010, according to data compiled by Loan Pricing Corp. and
reported in The Wall Street Journal.  This represents a drop of
4.23 percentage points from the previous week, The Journal
relates.  The Company pays 425 basis points above LIBOR to borrow
under the facility.  The bank loan matures on Feb. 16, 2016, and
carries Moody's B2 rating and Standard & Poor's B- rating.  The
debt is one of the biggest gainers and losers among 198 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

Freescale Semiconductor, Inc. -- http://www.freescale.com/-- once
Motorola's Semiconductor Products Sector, is one of the oldest and
most diverse makers of microchips in the world.  It produces many
different kinds of chips for use in automobiles, computers,
industrial equipment, wireless communications and networking
equipment, and other applications. The company's global client
roster includes such blue-chip companies as Alcatel-Lucent, Bosch,
Cisco Systems, Fujitsu, Hewlett-Packard, QUALCOMM, and Siemens, as
well as former parent Motorola. Freescale nets about half of its
sales from the Asia/Pacific region. The Blackstone Group, The
Carlyle Group, Permira Advisers, and TPG Capital own the company.


GALVESTON BAY: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: Galveston Bay Biodiesel, LP
        4828 Old Port Industrial Road
        Galveston, TX 77554

Bankruptcy Case No.: 10-80278

Chapter 11 Petition Date: May 10, 2010

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

Judge: Letitia Z. Paul

Debtor's Counsel: Christopher Donald Johnson, Esq.
                  Selman Munson & Lerner PC
                  820 Gessner, Suite 800
                  Houston, TX 77024
                  Tel: (713) 827-1722
                  Fax: (713) 827-1438
                  E-mail: cjohnson@selmanmunson.com

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

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

The Debtor did not file a list of its largest unsecured creditors
together with its petition.

The petition was signed by Rod Hayslett, chief financial officer.


GENERAL MOTORS: Treasury Interviews Bankers to Advise on IPO
------------------------------------------------------------
Randall Smith and Sharon Terlep report that the Treasury
Department is interviewing Wall Street bankers to advise the
government on an IPO of General Motors Corp.  The Journal reports
that among the Wall Street firms vying for the role are Greenhill
& Co., Lazard Ltd. and Perella Weinberg Partners, according to
people familiar with the meetings.

According to the Journal, while an initial public offering is
still several months away at the earliest, the investment-banker
pitches, known as a "bake-off," held this past week represent the
most concrete steps the U.S. has taken to recoup its bailout
stake, one of a string of massive cash injections to prop up major
U.S. companies during the market meltdown.

The government holds a 61% stake in GM after its $50 billion
bailout of the auto maker last year.  Under the deal, GM was to
directly repay a $6.7 billion loan, which it did in April.  The
rest of the U.S. investment is in the form of an equity stake that
the government can start selling off after GM launches an IPO.

The United Auto Workers owns 18% of GM shares through a trust for
retiree health care.  The Canadian government has 12% and GM's
bondholders have 10%.

                       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 December 31, 2009, GM had total assets of US$136.295 billion
against total liabilities of US$107.340 billion.  At December 31,
2009, total equity was US$21.249 million.

                 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)


GRAY COMMS: Bank Debt Trades at 3% Off in Secondary Market
----------------------------------------------------------
Participations in a syndicated loan under which Gray
Communications System, presently known as Gray Television, Inc.,
is a borrower traded in the secondary market at 96.50 cents-on-
the-dollar during the week ended Friday, May 14, 2010, according
to data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents a drop of 1.11 percentage points
from the previous week, The Journal relates.  The Company pays 150
basis points above LIBOR to borrow under the facility.  The bank
loan matures on Dec. 21, 2014, and carries Moody's B2 rating and
Standard & Poor's B rating.  The debt is one of the biggest
gainers and losers among 198 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended Friday.

Formerly known as Gray Communications System, Atlanta, Georgia-
based Gray Television, Inc., is a television broadcast company.
Gray currently operates 36 television stations serving 30 markets.
Each of the stations are affiliated with either CBS (17 stations),
NBC (10 stations), ABC (8 stations) or FOX (1 station).  In
addition, Gray currently operates 38 digital second channels
including 1 ABC, 4 Fox, 7 CW, 16 MyNetworkTV and 1 Universal
Sports Network affiliates plus 8 local news/weather channels and 1
"independent" channel in certain of its existing markets.

Gray Television carries 'CCC' issuer credit ratings from Standard
& Poor's and 'Caa1' corporate family rating from Moody's.


HARRAH'S ENTERTAINMENT: HOC Bank Debt Trades at 101.44%
-------------------------------------------------------
Participations in a syndicated loan under which Harrah's Operating
Company, Inc., is a borrower traded in the secondary market at
101.44 cents-on-the-dollar during the week ended Friday, May 14,
2010, according to data compiled by Loan Pricing Corp. and
reported in The Wall Street Journal.  This represents a drop of
2.10 percentage points from the previous week, The Journal
relates.  The Company pays 750 basis points above LIBOR to borrow
under the facility.  The bank loan matures on Oct. 23, 2016, and
carries Moody's Caa1 rating and Standard & Poor's B rating.  The
debt is one of the biggest gainers and losers among 198 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

Las Vegas, Nevada-based Harrah's Entertainment, Inc. --
http://www.harrahs.com/-- through its wholly owned subsidiary,
Harrah's Operating Company, Inc., operates nearly 40 casinos
across the United States, primarily under the Harrah's(R),
Caesars(R) and Horseshoe(R) brand names; Harrah's also owns the
London Clubs International family of casinos and the World Series
of Poker(R).  Private equity firms Apollo Global Management and
TPG Capital LP acquired Harrah's in January for $31 billion.

Harrah's Entertainment, Inc., reported its financial results for
the first quarter March 31, 2010, showing a $193.6 million net
loss on $2.19 billion of net revenues for quarter ended March 31,
2010, compared with a $127.5 million net loss on $2.25 billion of
net revenues for the same period a year earlier.  March 31, 2010,
the Company had $29.26 billion of total assets, $27.73 billion of
total liabilities, and $1.53 billion of stockholders' equity. The
March 31 balance sheet showed strained liquidity with $1.67
billion in total current assets against $1.82 billion of total
current liabilities.


HAWKER BEECHCRAFT: Bank Debt Trades at 16% Off in Secondary Market
------------------------------------------------------------------
Participations in a syndicated loan under which Hawker Beechcraft
is a borrower traded in the secondary market at 83.85 cents-on-
the-dollar during the week ended Friday, May 14, 2010, according
to data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents a drop of 1.21 percentage points
from the previous week, The Journal relates.  The Company pays 200
basis points above LIBOR to borrow under the facility.  The bank
loan matures on March 26, 2014, and carries Moody's Caa1 rating
and Standard & Poor's CCC+ rating.  The debt is one of the biggest
gainers and losers among 198 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended Friday.

Hawker Beechcraft Acquisition Company, LLC, headquartered in
Wichita, Kansas, is a leading manufacturer of business jets,
turboprops and piston aircraft for corporations, governments and
individuals worldwide.

Hawker Beechcraft Acquisition Company LLC reported a net loss of
$63.4 million on $568.2 million of total sales for the three
months ended March 28, 2010, compared with net income of $53.1
million on $537.6 million of sales for the three months ended
March 29, 2009.  The Company's balance sheet at March 28, 2010,
showed $3.41 billion in total assets and $3.36 billion in total
liabilities for a stockholders' equity $56.5 million.


HERCULES OFFSHORE: Bank Debt Trades at 5% Off in Secondary Market
-----------------------------------------------------------------
Participations in a syndicated loan under which Hercules Offshore,
Inc., is a borrower traded in the secondary market at 94.58 cents-
on-the-dollar during the week ended Friday, May 14, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents a drop of 2.30
percentage points from the previous week, The Journal relates.
The Company pays 650 basis points above LIBOR to borrow under the
facility.  The bank loan matures on July 11, 2013, and carries
Moody's B2 rating and Standard & Poor's B rating.  The debt is one
of the biggest gainers and losers among 198 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

Hercules Offshore, Inc. (NASDAQ: HERO) --
http://www.herculesoffshore.com/-- provides shallow-water
drilling and marine services to the oil and natural gas
exploration and production industry in the United States, Gulf of
Mexico and internationally.  The Company provides these services
to integrated energy companies, independent oil and natural gas
operators and national oil companies.  The Company operates in six
business segments: Domestic Offshore, International Offshore,
Inland, Domestic Liftboats, International Liftboats and Delta
Towing.


HEXION SPECIALTY: Posts $7 Million Net Loss for 1st Quarter 2010
----------------------------------------------------------------
Hexion Specialty Chemicals, Inc., reported its results for the
first quarter ended March 31, 2010:

     -- Revenues of $1.17 billion in the first quarter of 2010
        compared to $914 million during the prior year period as
        sales increased primarily due to volume gains, as well as
        the contractual pass through of higher raw material costs,
        pricing actions and the positive impact of foreign
        currency translation.

     -- Operating income of $67 million for the first quarter of
        2010 compared to operating income of $12 million for the
        prior year period. First quarter 2010 operating income
        improved compared to the prior year primarily due to
        higher revenues, an improved cost structure and lower
        expenses associated with the Company's productivity
        program.

     -- Net loss attributable to Hexion Specialty Chemicals, Inc.
        of $(7) million for the 2010 quarter versus net income of
        $116 million in the prior year period.  First quarter 2010
        results reflected the same factors impacting operating
        income. In the first quarter of 2009, net income included
        a $168 million gain from the early extinguishment of debt
        as Hexion previously purchased portions of its outstanding
        debt for amounts less than the face value of debt
        securities.

"We were encouraged by our first quarter 2010 volume gains of 25
percent versus the prior year period," said Craig O. Morrison,
Chairman, President and CEO.  "The first quarter 2010 demand
trends were generally positive across-the-board compared to the
first quarter of 2009.  Volume also grew solidly compared to the
fourth quarter of 2009 and rose sequentially approximately 6
percent.  Our strong year-over-year EBITDA improvement in the
first quarter of 2010 reflected higher volumes and the benefit of
past productivity actions. In addition, we have announced a number
of recent price actions in an effort to offset the raw material
inflationary trends we've experienced this year."

"Finally, our first quarter 2010 earnings were particularly strong
in our specialty epoxy resins, Versatic(TM) Acids and Derivatives,
and oilfield products, while overall results for our North
American forest products business also posted the sharpest EBITDA
gain in several quarters."

A full-text copy of the Company's earnings release is available at
no charge at http://ResearchArchives.com/t/s?621e

"We remain optimistic that the gradual recovery in volumes will
continue in 2010," Mr. Morrison said.  "However, we believe the
extent of the economic recovery is likely to vary significantly by
industry sector and geographical region.  As a result, we remain
aggressively focused on cost control and cash-related items in the
coming year. We plan to continue to leverage our lower cost
structure going forward and focus on serving our global customers,
while also investing in our business in high growth regions of the
world."

Hexion has recently announced multiple expansion projects,
including: a joint venture with Shanxi Sanwei Group Co., Ltd. to
build and operate a new plant in the Shanxi Province, China, to
produce Veova(TM) monomer, a key ingredient in water-based
decorative coatings, redispersible powders and adhesives; and the
construction of a manufacturing plant in Onsan, Korea, to produce
Cardura(TM) monomer, a Versatic(TM) Acid derivative used as a key
raw material in environmentally advanced paints and coatings.  In
addition, Hexion officially opened a new specialty epoxy resin
production facility in Esslingen, Germany, and completed a forest
product resins site in Montenegro, Brazil.

                  Liquidity and Capital Resources

At March 31, 2010, the Company had total assets of $3.139 billion
in total assets against total liabilities of $5.231 billion and
non-controlling interest of $4 million, resulting in total deficit
of $2.092 billion.

At March 31, 2010, Hexion had $3.650 billion of debt.  In
addition, at March 31, 2010, Hexion had $416 million in liquidity
including $151 million of unrestricted cash and cash equivalents,
$218 million of borrowings available under our senior secured
revolving credit facilities, and $47 million of borrowings
available under additional credit facilities at certain domestic
and international subsidiaries and an equity commitment from
certain affiliates of Apollo Management, L.P.

Hexion entered into an amendment to its Senior Secured Credit
Facilities during the first quarter of 2010.  Under the amendment,
Hexion extended the maturity of approximately $959 million of term
loans from May 5, 2013 to May 5, 2015 and increased the interest
rate with respect to such term loans from LIBOR plus 2.25 percent
to LIBOR plus 3.75 percent.  The Company also issued $1 billion
aggregate principal amount of senior secured notes due 2018.  The
Company used the net proceeds of $993 million from the issue to
repay $800 million of Hexion's U.S. term loans under the Senior
Secured Credit Facility, pay certain related transaction costs and
expenses, and provide incremental liquidity of $162 million.

In addition, in late December 2009 and early January 2010 Hexion
renewed its revolving line of credit facility commitments from
lenders, which will take effect upon the May 31, 2011 maturity of
the existing revolving facility commitments.  The new commitments,
which total $200 million, will extend the availability of the
revolver to 2013.  The new revolving loans, which cannot be drawn
until the existing revolving credit facility matures, will bear
interest at a rate of LIBOR plus 4.50 percent.

At March 31, 2010, the Company was in compliance with all
financial covenants that govern its senior secured credit
facilities, including its senior secured debt to Adjusted EBITDA
ratio.  Hexion expects to have adequate liquidity to fund its
ongoing operations for the foreseeable future from cash on its
balance sheet, cash flows provided by operating activities,
amounts available for borrowings under its credit facilities and
amounts committed from its parent.

A full-text copy of the Company's quarterly report on Form 10-Q is
available at no charge at http://ResearchArchives.com/t/s?621f

                About Hexion Specialty Chemicals

Based in Columbus, Ohio, Hexion Specialty Chemicals --
http://www.hexion.com/-- serves the global wood and industrial
markets through a broad range of thermoset technologies, specialty
products and technical support for customers in a diverse range of
applications and industries.  Hexion Specialty Chemicals is
controlled by an affiliate of Apollo Management, L.P.

                           *    *    *

As reported by the Troubled Company Reporter on February 5, 2010,
Standard & Poor's Ratings Services raised its ratings, including
its corporate credit rating to 'B-' from 'CCC+', on Hexion
Specialty Chemicals Inc.  The TCR on January 26, 2010, said
Moody's Investors Service changed the outlook on Hexion (B3
Corporate Family Rating) to stable from negative due to the
successful refinancing and extension of its term loan debt with $1
billion of 8.875% 1.5 lien notes due 2018.


HEXION SPECIALTY: Launches Exchange Offer for Unregistered Notes
----------------------------------------------------------------
Hexion Specialty Chemicals Inc. has filed with the Securities and
Exchange Commission a final prospectus and accompanying letter of
transmittal in connection with its offer to exchange up to
$1,000,000,000 aggregate principal amount of registered 8.875%
Senior Secured Notes Due 2018 and related guarantees, for a like
principal amount of outstanding 8.875% Senior Secured Notes Due
2018 and related guarantees.

The terms of the exchange notes and the guarantees are identical
to the terms of the old notes and the guarantees in all material
respects, except for the elimination of some transfer
restrictions, registration rights and additional interest
provisions relating to the old notes.  Each of the notes are
irrevocably and unconditionally guaranteed by Hexion and certain
of its domestic subsidiaries which guarantee its obligations under
the senior secured credit facilities.

Hexion will exchange any and all old notes that are validly
tendered and not validly withdrawn prior to 5:00 p.m., New York
City time, on June 7, 2010, unless extended.

A full-text copy of the Company's prospectus is available at no
charge at http://ResearchArchives.com/t/s?6220

                About Hexion Specialty Chemicals

Based in Columbus, Ohio, Hexion Specialty Chemicals --
http://www.hexion.com/-- serves the global wood and industrial
markets through a broad range of thermoset technologies, specialty
products and technical support for customers in a diverse range of
applications and industries.  Hexion Specialty Chemicals is
controlled by an affiliate of Apollo Management, L.P.

                           *    *    *

As reported by the Troubled Company Reporter on February 5, 2010,
Standard & Poor's Ratings Services raised its ratings, including
its corporate credit rating to 'B-' from 'CCC+', on Hexion
Specialty Chemicals Inc.  The TCR on January 26, 2010, said
Moody's Investors Service changed the outlook on Hexion (B3
Corporate Family Rating) to stable from negative due to the
successful refinancing and extension of its term loan debt with $1
billion of 8.875% 1.5 lien notes due 2018.


HICKS SPORTS: Yankees Lawyer Surprised on Lenders' Inaction
-----------------------------------------------------------
William Wilkerson, Special Contributor to The Dallas Morning News,
reports Irwin Kushner, Esq., an attorney for the New York Yankees
who works for Herrick, Feinstein LLP in New York, said he is
surprised that the lenders of Hicks Sports Group haven't moved to
place the Texas Rangers in bankruptcy.  According to the report,
Mr. Kushner said he has talked to some of the creditors and can't
get a straight answer.

"I am almost shocked at that. I certainly don't understand it,"
Mr. Kushner said, according to the report.

Dallas Morning News notes the lenders that hold $525 million in
Hicks Sports debt could force the Rangers into bankruptcy should
Major League Baseball seize control of the team.  The report notes
there are 40 lenders, led by hedge fund Monarch Alternative
Capital.

As reported by the Troubled Company Reporter on May 14, 2010,
Daniel Kaplan at Street & Smith's Sports Business Journal, citing
sources, reported that MLB Commissioner Bud Selig has warned Hicks
Sports creditors he could revoke their liens on the franchise if
they do not approve the long-pending and controversial sale of the
club.  In response, the sources said, creditors representing 95%
of the debt voted last Tuesday to reject the deal.

Billionaire Tom Hicks, who controls the Texas Rangers, is trying
to sell the team Rangers Baseball Express, headed by Chuck
Greenberg and team president Nolan Ryan.  That deal has been
delayed by creditors demanding more money from a sale.

According to Dallas Morning News, Bob Jarvis, a professor in the
Nova Southeastern University Law Center that specializes in sports
law, said if MLB seizes the Rangers, the creditors are left out in
the cold because their agreements are with Tom Hicks and his
sports group.  "[The creditors] always knew that they were not
contracting directly with MLB, but with Hicks," Professor Jarvis
said in an e-mail, according to the report.  "All owners are
subject to the rules of MLB, and therefore the creditors were on
notice [at least constructively] that there was a risk that MLB
would, effectively, take the team away from Hicks.

Mr. Wilkerson also reports that if the case ended up in bankruptcy
court, there's a chance Rangers Baseball Express would assume
ownership only to have that title ripped from its grasp in favor
of another bidder that would offer more money to the creditors.

"Of course, MLB has to consider carefully whether it wants to
leave the creditors out in the cold, because by doing so in this
instance, banks and other lenders will be quite leery when any
owner/potential owner comes calling in the future," Professor
Jarvis said, according to the report.

                       About Hicks Sports

Hicks Sports Group -- http://www.hickssportsgroup.com/-- was
formed in 1999 as a sports and entertainment holding company
controlled by Thomas O. Hicks.  Prior to the formation of HSG, Mr.
Hicks acquired the Dallas Stars in 1996 and then acquired the
Texas Rangers from the George W. Bush/Edward W. Rose partnership
in 1998.  HSG was formed to oversee the Hicks family's sports
teams, as well as the Hicks family's sports-related real estate
developments.

In a joint venture with an affiliate of the Dallas Mavericks, HSG
owns a 50% stake in Center Operating Company, the group that
manages and leases the American Airlines Center, which is home to
the Dallas Stars and the Dallas Mavericks NBA team.  Further, HSG
operates Hicks Sports Marketing Group, an entity formed in 2006 to
represent sports branding opportunities and corporate sponsorships
for HSG, most notably for the Stars, the Rangers, and real estate
projects related to Hicks' sports venues.  HSG has an interest in
eight Dr. Pepper StarCenter facilities, including the StarCenter
in Frisco, Texas, that serves as the practice facility for the
Dallas Stars, and owns roughly 40 acres surrounding the Dr.
Pepper/7 Up Ballpark in Frisco, which is designated for future
mixed-use development.  In Arlington, HSG is involved in the
development of over 100 acres, as an exciting mixed-use
development focused on restaurants and entertainment, planned
between the Rangers Ballpark in Arlington and the new Dallas
Cowboys Stadium.

Hicks Sports missed a $10 million quarterly interest payment on
March 31, 2009, triggering a default notice.


HYDROGEN LLC: Judge Gonzalez Tosses Deepening Insolvency Claim
--------------------------------------------------------------
WestLaw reports that a complaint failed to adequately plead a
claim for constructive fraudulent transfer under the Bankruptcy
Code.  The complaint set forth little more than a formulaic
recitation of the claim elements, and completely lacked facts
supporting an allegation that the Chapter 11 debtor received less
than reasonably equivalent value in exchange for the challenged
payments to its officers and directors.  In re Hydrogen, L.L.C. --
- B.R. ----, 2010 WL 1609536 (Bankr. S.D.N.Y.) (Gonzalez, C.J.).

The Official Committee of Unsecured Creditors appointed in
HydroGen, L.L.C.'s chapter 11 case (Bankr. S.D.N.Y. Case No. 08-
14139) sued (Bankr. S.D.N.Y. Adv. Pro. No. 09-01142) sued, inter
alia, current and former officers and directors of the Debtor and
its parent company, objecting to their proofs of claim and
asserting claims for breach of fiduciary duty, aiding and abetting
breach of fiduciary duty, avoidance of constructive fraudulent
transfers, unjust enrichment, breach of employment agreements,
deepening insolvency, equitable subordination, and avoidance of
preferential transfers.  Certain defendants filed motions to
dismiss, and the Honorable Arthur J. Gonzalez, Chief Judge, held
that: (1) directors of the debtor's parent company did not owe
fiduciary duties to the debtor; (2) the complaint failed to
adequately plead a claim for breach of fiduciary duty against the
debtor's former chief executive officer; (3) the complaint failed
to state a claim for aiding and abetting breach of fiduciary duty;
(4) the complaint failed to adequately plead a claim for
constructive fraudulent transfer; (5) the complaint failed to
state a preferential transfer claim; (6) the complaint failed to
state a claim for breach of employment agreement; and (7)
allegations of undercapitalization were insufficient to state
claim for equitable subordination.  With the exception of the
deepening insolvency claim, Judge Gonzalez granted the Committee
leave to replead all dismissed claims against the relevant moving
Defendants by June 20, 2010.

HydroGen, L.L.C., was a development stage company that
manufactured phosphoric acid fuel cells for use in modules and
power plants fueled by hydrogen and hydrocarbon gases for
application by industrial and chemical industry end-users.  The
Debtor, an Ohio limited liability company, was a wholly owned
subsidiary of HydroGen Corporation, an SEC-reporting company.  On
Oct. 22, 2008, the Debtor filed a voluntary chapter 11 petition
(Bankr. S.D.N.Y. Case No. 08-14139).  The Debtor is represented by
The Law Offices of David C. McGrail in Manhattan.  When the Debtor
sought protection from its creditors, it estimated assets and
debts of $1 million to $10 million.


INN AT MISSOURI: Asks for Court's Nod to Use Cash Collateral
------------------------------------------------------------
Inn at Missouri Research Park, LLLP, seeks authority from the U.S.
Bankruptcy Court for the Eastern District of Missouri to use the
cash collateral.

Premier Bank has a deed of trust against the Debtor's 100 room
hotel located within the Missouri Research Park at Weldon Spring,
Missouri in St. Charles County, Missouri.

David M. Dare, Esq., at Herren, Dare & Streett, the attorney for
the Debtor, explains that the Debtor needs the money to fund its
Chapter 11 case, pay suppliers and other parties.  The Debtors
will use the collateral pursuant to a budget, a copy of which is
available for free at:

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

The Debtor says that the Bank's interest in cash collateral is
adequately protected.  The adequate protection will be provided to
the Bank through the preservation of the Debtor's value as a going
concern.  The Debtor has orally offered to provide post-petition
liens to the Bank in exchange for the use of the Bank's cash
collateral, and if required to make post-petition adequate
protection payments.

St. Louis, Missouri-based Inn at Missouri Research Park, LLP, dba
Wingate by Wyndham Hotel, filed for Chapter 11 bankruptcy
protection on May 3, 2010 (Bankr. E.D. Mo. Case No. 10-44907).
David M. Dare, Esq., at Herren, Dare & Streett, assists the
Company in its restructuring effort.  The Company listed
$10,000,001 to $50,000,000 in assets and $1,000,001 to $10,000,000
in liabilities.


INTELSAT SA: Reports $102.6 Million Net Loss for 1st Quarter 2010
-----------------------------------------------------------------
Intelsat S.A. reported revenue of $621.1 million and a net loss of
$102.6 million for the three months ended March 31, 2010.
Intelsat S.A. reported revenue of $631.8 million and a net loss of
$557.6 million for the three months ended March 31, 2009.

The company also reported Intelsat S.A. EBITDAi, or earnings
before net interest, loss on early extinguishment of debt, taxes
and depreciation and amortization, of $445.8 million, and Intelsat
Luxembourg Adjusted EBITDAi of $483.1 million, or 78% of revenue,
for the three months ended March 31, 2010.

On April 21, 2010, Intelsat S.A. completed a consent solicitation
to amend certain terms of Intelsat S.A.'s 7-5/8% Senior Notes due
2012 and 6-1/2% Senior Notes due 2013.  The most significant
amendments replaced the limitation on secured debt covenant, which
limited secured debt of Intelsat S.A. and its restricted
subsidiaries to 15% of their consolidated net tangible assets
(subject to certain restrictions), with a new limitation on liens
covenant, which generally limits such secured debt to two times
the adjusted EBITDA of Intelsat S.A plus certain general baskets
(subject to certain exceptions), and made certain corresponding
changes to the sale and leaseback covenant as a result of the
addition of the new limitation on liens covenant.

"First quarter 2010 performance was as anticipated in light of the
previously reported events that are restraining our growth in the
first half of 2010," said Intelsat CEO, David McGlade. "Our
confidence in our business is well-founded. Our attractive
contract backlog, which increased to $9.5 billion at the end of
the first quarter, provides stability to our business and
visibility into our future revenue streams."

Mr. McGlade continued, "Our goal is to deliver sustainable growth
over the long term. With new capacity entering service on our
network and solid demand for the services we provide, we will
continue to execute on our business plan. As we progress, we look
forward to an improving growth profile in the second half of
2010."

As of March 31, 2010, the Company had $17.266 billion in total
assets against total current liabilities of $669.358 million;
long-term debt, net of current portion of $15.367 billion;
deferred satellite performance incentives, net of current portion
of $125.350 million; deferred revenue, net of current portion of
$296.110 million; deferred income taxes of $540.775 million;
accrued retirement benefits of $239.026 million; other long-term
liabilities of $337.141 million; redeemable noncontrolling
interest of $16.604 million.  The Company had non-controlling
interest of $1.917 million and total Intelsat S.A. shareholder's
deficit of $327.839 million.

A full-text copy of the Company's earnings release is available at
no charge at http://ResearchArchives.com/t/s?6222

A full-text copy of the Company's quarterly report on Form 10-Q is
available at no charge at http://ResearchArchives.com/t/s?6221

                          About Intelsat

Based in Luxembourg, Intelsat S.A. provides fixed satellite
services worldwide.


INTELSAT SA: BC Partners, Silver Lake Funds to Sell $1.4BB Notes
----------------------------------------------------------------
Intelsat S.A. disclosed that funds advised by BC Partners and
funds advised by Silver Lake intend to sell up to:

      $281,810,000 aggregate principal amount of Intelsat
                   (Luxembourg) S.A.'s 11-1/4% Senior Notes due
                   2017 and

    $1,121,692,472 aggregate principal amount of Intelsat
                   (Luxembourg) S.A.'s 11-1/2%/12-1/2% Senior PIK
                   Election Notes due 2017.

The 11-1/4% Senior Notes due 2017 and the 11-1/2%/12-1/2% Senior
PIK Election Notes due 2017 were originally issued on June 27,
2008 pursuant to Rule 144A and Regulation S and the new notes were
issued in exchange for the original notes on January 20, 2010.
Intelsat said the selling securityholders are affiliates of the
Company.  Intelsat has filed with the U.S. Securities and Exchange
Commission a prospectus to register the new notes held by the
selling securityholders for resale.  Intelsat will not receive any
proceeds from the sale of the new notes in the offer.

A full-text copy of the prospectus is available at no charge at
http://ResearchArchives.com/t/s?6223

                          About Intelsat

Based in Luxembourg, Intelsat S.A. provides fixed satellite
services worldwide.

As of March 31, 2010, the Company had $17.266 billion in total
assets against total current liabilities of $669.358 million;
long-term debt, net of current portion of $15.367 billion;
deferred satellite performance incentives, net of current portion
of $125.350 million; deferred revenue, net of current portion of
$296.110 million; deferred income taxes of $540.775 million;
accrued retirement benefits of $239.026 million; other long-term
liabilities of $337.141 million; redeemable noncontrolling
interest of $16.604 million.  The Company had non-controlling
interest of $1.917 million and total Intelsat S.A. shareholder's
deficit of $327.839 million.


J & P ACQUISITION: Case Summary & 12 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: J & P Acquisition, Inc.
        2 Floral Avenue
        P.O Box 5002
        Hodges, SC 29653

Bankruptcy Case No.: 10-03363

Chapter 11 Petition Date: May 10, 2010

Court: United States Bankruptcy Court
       District of South Carolina (Spartanburg)

Judge: John E. Waites

Debtor's Counsel: R. Geoffrey Levy, Esq.
                  2300 Wayne Street
                  Columbia, SC 29201
                  Tel: (803) 256-4693
                  E-mail: llfecf@levylawfirm.org

Scheduled Assets: $18,562

Scheduled Debts: $35,868,145

A list of the Company's 12 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/scb10-03363.pdf

The petition was signed by Charles Fox, president.


JOSEPH ROWAND: Case Summary & 6 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Joseph D. Rowand
        4600 Old Hwy 86
        Hillsborough, NC 27278

Bankruptcy Case No.: 10-80830

Chapter 11 Petition Date: May 10, 2010

Court: United States Bankruptcy Court
       Middle District of North Carolina (Durham)

Debtor's Counsel: John A. Northen, Esq.
                  P.O. Box 2208
                  Chapel Hill, NC 27514-2208
                  Tel: (919) 968-4441
                  E-mail: jan@nbfirm.com

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

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

A list of the Company's 6 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/ncmb10-80830.pdf

The petition was signed by Joseph D. Rowand.


JOSHUA BLUM: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Joshua E. Blum
        aka Joshua E Macias
        344 Lavender Lane
        Virginia Beach, VA 23462-2609

Bankruptcy Case No.: 10-72226

Chapter 11 Petition Date: May 10, 2010

Court: United States Bankruptcy Court
       Eastern District of Virginia (Norfolk)

Judge: Frank J. Santoro

Debtor's Counsel: Kelly Megan Barnhart, Esq.
                  Roussos, Lassiter, Glanzer & Marcus, PLC
                  580 E. Main St., Suite 300
                  P.O. Box 3127
                  Norfolk, VA 23514-3127
                  Tel: (757) 622-9005
                  Fax: (757) 624-9257
                  E-mail: barnhart@rlglegal.com

Scheduled Assets: $1,701,388

Scheduled Debts: $2,048,618

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/vaeb10-72226.pdf

The petition was signed by Joshua E. Blum.

Debtor-affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Renae Blum                             09-70495    02/10/09


JACKSON & PERKINS: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Jackson & Perkins Wholesale, Inc.
        2 Floral Avenue
        P.O. Box 5002
        Hodges, SC 29653

Bankruptcy Case No.: 10-03365

Chapter 11 Petition Date: May 10, 2010

Court: United States Bankruptcy Court
       District of South Carolina (Spartanburg)

Judge: John E. Waites

Debtor's Counsel: R. Geoffrey Levy, Esq.
                  2300 Wayne Street
                  Columbia, SC 29201
                  Tel: (803) 256-4693
                  E-mail: llfecf@levylawfirm.org

Scheduled Assets: $16,012,577

Scheduled Debts: $31,181,971

The petition was signed by Charles Fox, president.

Debtor's List of 20 Largest Unsecured Creditors:

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Wells Fargo                                      $13,751,243
333 South Grand Avenue
Suite 940
Los Angeles CA 90071

San Joaquin Horticulture LLC                     $3,323,227
7041 North Van Ness Blvd.
Fresno CA 93711

Kapiteyn Postbus 3                               $410,580
Anna Paulowna NH
1760 Aa Netherlands

Western Horicultural Inc.                        $151,970

The Conard-Pyle Co.                              $142,455

International Paper                              $120,278

Nursery Supplies Inc.                            $116,325

All-American Rose Selections                     $109,659

Lightning Freight                                $108,765

Keisei Rose Nurseries Inc.                       $91,155

Weeks Roses                                      $75,000

Gen X Transportation Inc.                        $71,932

PG&E                                             $70,398

Bates Sons and Daughters                         $63,374

Tri-Wall                                         $60,886

Oracle USA Inc.                                  $60,719

Department of Veterans Affairs                   $58,903

UPS Freight                                      $56,933

International Paper                              $47,520

EagleCreek Wholesale                             $43,119


JOSHUA FARMER: Files List of 20 Largest Unsecured Creditors
-----------------------------------------------------------
Joshua and Andrea Farmer filed with U.S. Bankruptcy Court for
the Western District of North Carolina their list of largest
unsecured creditors, disclosing:

  Entity                   Nature of Claim        Claim Amount
  ------                   ---------------        ------------

The Palmetto Bank                                 $9,709,863
Special Assets
815 North Main Street
Andeson, SC 29621

The Palmetto Bank                                 $6,117,777
Special Assets
815 North Main Street
Anderson, SC 29621

Keybank Real Estate Capital                       $5,317,000
911 Main Street, Suite 1500
Kansas City, MO 64105

Keybank Real Estate Capital                       $5,187,060
911 Main Street, Suite 1500
Kansas City, MO 64105

The Palmetto Bank                                 $4,747,931
Special Assets
815 North Main Street
Anderson, SC 29621

Inland Mortgage                                   $3,775,000
Capital Corporation
2901 Butterfield Road
Oak Brook, IL 60523

The Palmetto Bank                                 $2,371,486
Special Assets
815 North Main Street
Anderson, SC 29621

First National Bank of the South                  $1,950,000
P.O. Office box 3508
Spartanburg, SC 29304


Hanbour Finance Limited                           $1,763,312
P.O. Box 1569
Grand Cayman
KY1-1110
Cayman Islands

Harbour Finance Limited                           $1,467,638
P.O. Box 1569
Grand Cayman
KY1-1110
Cayman Islands

The Palmetto Bank                                   $573,281
Special Assets
815 North Main Street
Anderson, SC 29621


EMC Mortgage Corporation                            $551,404
Attn: Customer Service
P.O. 293150
Lewisville, TX 75209-3150

Wachovia Bank, N.A.                                 $349,171
Customer Service Group, NC1075
201 South College Street
Charlotte, NC 28244

Wachovia Bank, N.A.                                 $331,300
Customer Service Group NC1075
201 South College Street
Chalotte, NC 28244

GTV Investors, LLC                                  $300,000
812 East Main Street
Spantanburg, SC 29302

Jim Miller                                          $200,000

Bank of America                                     $193,837

Carolina First                                      $154,543

Rich Rollar                                         $130,000

EMC Mortgage                                        $110,000

Rutherfordton, North Carolina-based Joshua Farmer and Andrea
Farmer -- dba Two Mile Properties, LLC, et al. -- filed for
Chapter 11 bankruptcy protection on April 5, 2010 (Bankr. W.D.
N.C. Case No. 10-40270).  The Company listed $10,000,001 to
$50,000,000 in assets and $50,000,001 to $100,000,000 in
liabilities.

Raymond Farmer and Diane Farmer filed a separate Chapter 11
petition on April 5, 2010 (Case No. 10-40269), listing $10,000,001
to $50,000,000 in assets and $50,000,001 to $100,000,000 in
liabilities.

Travis W. Moon, Esq., at Hamilton Moon Stephens Steele Martin,
assists the Debtors in their restructuring efforts.


JPMCC 2002-CIBC4: Bankruptcy Filing to Stay Dillard's Suit
----------------------------------------------------------
JPMCC 2002-CIBC4 Highland Retail LLC filed for Chapter 11 on May
12 in Austin, Texas (Bankr. W.D. Tex. Case No. 10-11331).

Eric Morath at Dow Jones' Daily Bankruptcy Review relates that
JPMCC 2002-CIBC4 owns The Highland Mall -- an Austin, Texas, mall
that formerly was jointly held by General Growth Properties Inc.
and Simon Property Group Inc. -- filed for Chapter 11 bankruptcy
with the U.S. Bankruptcy Court in Austin on May 12, 2010.

According to Dow Jones, Highland Retail sought creditor protection
as the shopping center faces a lawsuit from Dillard's Inc. -- one
of its major tenants.  The report says Dillard's is seeking to
break its lease because the property is "half empty," "plagued by
gang activity" and has a poor tenant mix, including a store that
primarily sells toilet paper.  "It's like a ghost town, there's
nothing there," Dillard's said in the lawsuit, filed March 31 with
U.S. District Court in Austin, Dow Jones reports

Bloomberg relates that American General Life & Accident Insurance
Co., the owner of the underlying land, also sued last year,
seeking to terminate the ground lease.  The unit of American
International Group Inc. also contends the mall is in disrepair.

The Debtor listed assets between $10 million and $50 million, and
debts between $500,000 and $1 million on its Chapter 11 petition.

Dow Jones says a General Growth spokesman confirmed that General
Growth and Simon, the nation's two largest mall owners, turned the
property over to its mortgage lenders prior to the Chapter 11
filing.  Highland Retail is 100% controlled by holders of the
mall's mortgage.

                            About JPMCC

JPMCC 2002-CIBC4 Highland Retail LLC owns the Highland Mall in
Austin, Texas.  JPMCC is a pass-through trust for which Wells
Fargo Bank NA serves as trustee.  The owner is an affiliate of a
lender that made a $71 million loan for the property in 2001.  The
petition says that the assets are worth more than $10 million
while debt is less than $1 million.


JT TRUCKING: Debtor's Principal Must Hire Separate Counsel
----------------------------------------------------------
WestLaw reports that the same attorney could not be allowed to
represent both the corporate Chapter 11 debtor and the
corporation's individual debtor-principal, especially where the
individual debtor had a claim against the corporation and was also
a co-obligor and guarantor for a large percentage of the
corporation's debt.  Even if the court were to give the debtors
and their proposed counsel the benefit of every doubt and find
that all the identified conflicts rose only to the level of
potential, and not actual, conflicts, the cumulative effect of
these "potential" conflicts were of such significance and scope
that, at the very least, the debtors each had to retain separate
counsel.  The debtor's choice of counsel is entitled to
significant deference.  However, the debtor's choice must be
balanced against the mandate that dual representation, both of a
corporate debtor and its principal, is disfavored.  In re Straughn
--- B.R. ----, 2010 WL 1783245 (Bankr. W.D. Pa.) (Agresti, J.).

JT Trucking, Inc., sought chapter 11 protection (Bankr. W.D. Pa.
Case No. 07-22204) on Apr. 5, 2007.  On May 8, 2009, the Honorable
Thomas P. Agresti dismissed that Chapter 11 case because of the
Debtor's failure to make the payments required under a confirmed
Plan of Reorganization and the Debtor otherwise being unable to
satisfy the requirements for obtaining a Final Decree.  On June
10, 2009, JT Trucking filed a second chapter 11 petition (Bankr.
W.D. Pa. Case No. 09-24369).

On Sept. 8, 2009, Tammy L. Straughn, JT Trucking's principal and
80% owner, sought chapter 11 protection (Bankr. W.D. Pa. Case No.
09-26613).  Ms. Straughn had previously filed a Chapter 7 petition
(Bankr. W.D. Pa. Case No. 08-28090) on Dec. 3, 2008, which she
moved to dismiss prior to the Sec. 341 meeting, and which was
dismissed on May 29, 2009.


KIEBLER SLIPPERY: Files Schedules of Assets and Liabilities
-----------------------------------------------------------
Kiebler Slippery Rock LLC filed with the U.S. Bankruptcy Court for
the Northern District of Ohio amended schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property               $18,180,000
  B. Personal Property              $883,173
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $36,181,345
  E. Creditors Holding
     Unsecured Priority
     Claims                                          $308,383
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                          $375,099
                                 -----------      -----------
        TOTAL                    $19,063,173      $36,864,827

Chardon, Ohio-based Kiebler Slippery Rock LLC filed for Chapter 11
on Sept. 25, 2009 (Bankr. N.D. Ohio Case No. 09-19087).  Andrew L.
Turscak Jr., Esq., Mark A. Weintraub, Esq., and Robert C. Folland,
Esq., at Thompson Hine LLP represent the Debtor in its
restructuring effort.  In its petition, the Debtor listed assets
and debts both ranging from $10,000,001 to $50,000,000.


KIM BRESKOW-ELLIOTT: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Kim Breskow-Elliott
          fka Kim Breskow-Harner
          dba KB Rental Enterprise of Toledo, LLC
        9 Crossleaf Court West
        Palm Coast, FL 32137

Bankruptcy Case No.: 10-04003

Chapter 11 Petition Date: May 10, 2010

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

Debtor's Counsel: Jason A. Burgess, Esq.
                  Crumley, Wolfe & Burgess, P.A.
                  2254 Riverside Avenue
                  Jacksonville, FL 32204
                  Tel: (904) 374-0111
                  Fax: (904) 374-0113
                  E-mail: jason@cwbfl.com

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

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

According to the schedules, the Debtor says that assets total
$1,080,150 while debts total $1,345,459.

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/flmb10-04003.pdf

The petition was signed by the Debtor.


KINETEX RESOURCES: Provides Default Status Report
-------------------------------------------------
Kinetex Resources Corp. is providing its first bi-weekly Default
Status Report in accordance with National Policy 12-203 Cease
Trade Orders for Continuous Disclosure Defaults.  In its news
release on April 30, 2010, the Company disclosed that it was not
able to file its comparative audited annual financial statements
for the year ended December 31, 2009 on or before the prescribed
deadline of April 30, 2010.

As previously announced, the Company made an application to the
applicable securities regulators under NP 12-203 requesting that a
management cease trade order be imposed in respect of this late
filing.  On May 5, 2010, the British Columbia Securities
Commission, being the Principal Regulator, issued a temporary
management cease trade order.  The issuance of the temporary cease
trade order does not affect the ability of persons who have not
been directors, officers or insiders of the Company to trade in
their securities.  However, the securities regulatory authorities,
in their discretion, may determine that it would be appropriate to
issue a general issuer cease trade order affecting all of the
Company's securities.  Until such time that the Annual Filings are
filed or the securities regulatory authorities issue a general
cease trade order, the Company will continue to provide bi-weekly
updates, as contemplated by NP 12-203.

On May 5, 2010, the Company announced that it had arranged,
subject to regulatory approval, a non-brokered private placement
consisting of up to 3,525,000 common shares of the Company at a
subscription price of $0.40 per Share, for gross proceeds of up to
$1,410,000.

Other than as set out herein, the Company reports that since the
Default Notice: (i) there is no material change to the information
set out in the Default Notice that has not been generally
disclosed; (ii) there has been no failure by the Company in
fulfilling its stated intentions with respect to satisfying the
provisions of the alternative information guidelines set out in NP
12-203; (iii) there has not been any other specified default by
the Company under NP 12-203; and (iv) there is no other material
information concerning the affairs of the Company that has not
been generally disclosed.

The Company expects to file its annual financial statements for
the year ended December 31, 2009 to be finalized by no later than
May 28, 2010 and, accordingly, filed by the next business day,
namely by May 31, 2010.  The Company expects that it will file its
interim consolidated financial statements for the quarter ended
March 31, 2010 on or before May 31, 2010.

                           About Kinetex

Kinetex is an oil, gas and mineral exploration services company
with offices in Vancouver, BC, Calgary, Alberta and Bogota,
Colombia.  Through its subsidiaries, Kinetex provides data-rich
high resolution subsurface images - essentially a brand-new
exploration tool - to the energy, metals and minerals exploration
and development industries seeking to go beyond the limitations of
traditional data acquisition methods.


LA BOTA: Gets Interim Okay to Use Bank Midwest's Cash Collateral
----------------------------------------------------------------
La Bota Development Company, Inc., and Laredo Rock Tech Sand and
Gravel, LP, sought and obtained interim authorization from the
U.S. Bankruptcy Court for the Southern District of Texas to use
Bank Midwest, N.A.'s cash collateral.

Wayne Kitchens, Esq., at Hugheswattersaskanase, LLP, the attorney
for the Debtors, explain that the Debtors need the money to fund
their Chapter 11 case, pay suppliers and other parties.  The
Debtors will use the collateral pursuant to a budget, a copy of
which is available for free at:

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

La Bota asserts that BM is adequately protected on its $10,886,000
claim by the collateral which is worth in excess of $27,450,000.
La Bota will provide additional adequate protection to BM by
replacement liens on post-petition rents arising from the
collateral, and by accounting to BM for cash collateral being
used.  La Bota's projections show that the replacement Lien will
substantially maintain BM's existing collateral.

BM, which holds three promissory notes (the Notes) made by the
Debtors, has objected to the Debtors' request to use cash
collateral, saying that the Debtor has absolutely assigned to BM
all rents collected or to be collected from the properties owned
and leased by the Debtor are two commercial properties (the Leased
Properties) leased to Schneider National Carriers, Inc., and
Holt Texas, Ltd. (collectively the Tenants).

BM claims that it holds title to any cash currently being held (or
to be collected) by the Debtor on account of rents generated by
the Leased Properties.  Because of the absolute assignment the
Debtor and its estate do not have an interest in the rents, BM
says.

To the extent the Court determines that the Debtor does have an
interest in the cash generated from the Leased Properties, the
Debtors' use of that cash should be conditioned on BM receiving
adequate protection including: (a) replacement liens on the cash
generated by the Leased Properties post-petition; and (b) monthly
interest payments equal to the interest due on the Notes secured
by the Leased Properties at the applicable contract rate of
interest.

BM believes that the payroll line item in the Debtors' proposed
budget includes substantially inflated salaries to potential
insiders.  BM objects to the use of its cash collateral to pay
salaries to any insiders, including but not limited to Albert F.
Muller, Jr., Virgina C. Muller, Albert F. Muller, III and Greg
Ebe.

The Court has set a final hearing for May 24, 2010, at 9:00 a.m.
on the Debtor's request to use cash collateral.

BM is represented by Bryan Cave LLP.

Sugar Land, Texas-based La Bota Development Company, Inc., filed
for Chapter 11 bankruptcy protection on May 3, 2010 (Bankr. S.D.
Texas Case No. 10-20376).  Steven Douglas Shurn, Esq., at Hughes
Watters and Askanase, assists the Company in its restructuring
effort.  The Company listed $50,000,001 to $100,000,000 in assets
and $10,000,001 to $50,000,000 in liabilities.


LAS VEGAS MONORAIL: Ambac & Regulator Appeal Chapter 11 Ruling
--------------------------------------------------------------
Steve Green at Las Vegas Sun reports that Ambac Assurance Corp. of
Wisconsin is taking an appeal from an April 26 bankruptcy court
ruling that found the Las Vegas Monorail is not a government
agency.

According to the report, Monday's appeal was filed by Ambac and
its regulator, the Office of the Commissioner of Insurance for the
State of Wisconsin, which has assumed control of some Ambac
contracts.

Ambac insured the bulk of the $649 million in tax-exempt bonds
issued by the state to construct the monorail.  As reported by the
Troubled Company Reporter, Ambac and Wells Fargo Bank sought
dismissal of the case, telling the Court that a filing under
Chapter 9 reserved for government agencies was more appropriate.

In his ruling, Bankruptcy Judge Bruce Markell said the bond
documents clearly say the state is not liable for any bond
indebtedness.  Judge Markell agreed there has been substantial
state involvement with the monorail, but said that involvement
doesn't make the monorail a municipality eligible for a Chapter 9
filing.

"No one seriously contends that Las Vegas Monorail Co. is a
political subdivision or agency of the state of Nevada. It has no
power to tax, no power of eminent domain and no sovereign
immunity," Judge Markell wrote in his ruling.

                     About Las Vegas Monorail

Las Vegas, Nevada-based Las Vegas Monorail Company, organized by
the State of Nevada in 2000 as a nonprofit corporation, owns and
manages the Las Vegas Monorail.  The Monorail is a seven-stop,
elevated train system that travels along a 3.9-mile route near the
Las Vegas Strip.  LVMC has contracted with Bombardier Transit
Corporation to operate the Monorail.  Though it benefits from its
tax-exempt status due to being a nonprofit entity, LVMC claims to
be the first privately-owned public transportation system in the
nation to be funded solely by fares and advertising.  LVMC says it
receives no governmental financial support or subsidies.

The Company filed for Chapter 11 bankruptcy protection on
January 13, 2010 (Bankr. D. Nev. Case No. 10-10464).  Gerald M.
Gordon, Esq., at Gordon Silver, assists the Company in its
restructuring effort.  Alvarez & Marsal North America, LLC, is the
Debtor's financial advisor.  Stradling Yocca Carlson & Rauth is
the Debtor's special bond counsel.  Jones Vargas is the Debtor's
special corporate counsel.  The Company listed $10,000,001 to
$50,000,000 in assets and $500,000,001 to $1,000,000,000 in
liabilities.


LAS VEGAS SANDS: Bank Debt Trades at 9% Off in Secondary Market
---------------------------------------------------------------
Participations in a syndicated loan under which Las Vegas Sands
Corp. is a borrower traded in the secondary market at 91.15 cents-
on-the-dollar during the week ended Friday, May 14, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents a drop of 2.83
percentage points from the previous week, The Journal relates.
The Company pays 175 basis points above LIBOR to borrow under the
facility.  The bank loan matures on May 1, 2014, and carries
Moody's B3 rating and Standard & Poor's B- rating.  The debt is
one of the biggest gainers and losers among 198 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

Based in Las Vegas, Nevada, Las Vegas Sands Corp. (NYSE: LVS) --
http://www.lasvegassands.com/-- owns and operates The Venetian
Resort Hotel Casino, The Palazzo Resort Hotel Casino, and an expo
and convention center.  The company also owns and operates the
Sands Macao, the first Las Vegas-style casino in Macao, China.


LEAP WIRELESS: Posts $68,034,000 Net Loss for 2010 First Quarter
----------------------------------------------------------------
Leap Wireless International, Inc., filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q for the
period ended March 31, 2010.

Leap said net loss attributable to common stockholders was
$68,034,000 for the 2010 first quarter from $50,296,000 for the
2009 quarter.  Leap has reported net losses for the past three
years -- $238.0 million, $143.4 million and $76.4 million for the
years ended December 31, 2009, December 31, 2008 and December 31,
2007, respectively.

Leap said total revenues -- consisting of services and equipment
revenues -- were $653,954,000 for the quarter from $586,987,000
for the prior period.

At March 31, 2010, the Company had total assets of $5,259,706,000
from total liabilities of $3,578,532,000 and redeemable non-
controlling interests of $51,768,000, resulting in stockholders'
equity of $1,629,406,000.

A full-text copy of the Company's Form 10-Q report is available at
no charge at http://ResearchArchives.com/t/s?6224

The Troubled Company Reporter on February 2, 2010, citing The Wall
Street Journal's Jeffrey McCracken and Niraj Sheth, said Leap
Wireless has hired Goldman Sachs Group and formed a special board
committee to look into selling the company or merging with rivals.

                        About Leap Wireless

Headquartered in San Diego, California, Leap Wireless
International, Inc. (NASDAQ: LEAP) -- http://www.leapwireless.com/
-- and its joint ventures provide wireless services in 34 states
and the District of Columbia and hold licenses in 35 of the top 50
U.S. markets.  Through its affordable, flat-rate service plans,
Cricket offers customers a choice of unlimited voice, text, high-
speed data and mobile Web services.

Leap spun out from Qualcomm Inc. in 1998 and expanded primarily
into rural markets.  It has customers in 34 states and annual
sales around $2.3 billion, making it the seventh-largest wireless
carrier in the U.S., according to The Wall Street Journal.

At December 31, 2009, the Company had total assets of
$5,380,697,000 against total liabilities of total liabilities of
$3,596,896,000 and redeemable noncontrolling interests of
$71,632,000, resulting in stockholder's equity of $1,712,169,000.

                          *     *     *

According to the Troubled Company Reporter on April 29, 2009,
Standard & Poor's Ratings Services revised its outlook on Leap
Wireless International Inc. to positive from stable.  At the same
time, S&P affirmed its ratings on the San Diego-based wireless
carrier, including the "B-" long-term corporate credit rating and
"B+" secured bank loan rating on subsidiary Cricket Communications
Inc.


LEHMAN BROTHERS: Judge Denies SunCal Bid to Pursue Suit
-------------------------------------------------------
American Bankruptcy Institute reports that Bankruptcy Judge James
Peck rejected a bid by SunCal Cos. to pursue a lawsuit against
Lehman Brothers Holdings Inc. involving more than two dozen
stalled real-estate projects in California.

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)


LEVEL 3 COMMS: Bank Debt Trades at 8% Off in Secondary Market
-------------------------------------------------------------
Participations in a syndicated loan under which Level 3
Communications, Inc., is a borrower traded in the secondary market
at 92.19 cents-on-the-dollar during the week ended Friday, May 14,
2010, according to data compiled by Loan Pricing Corp. and
reported in The Wall Street Journal.  This represents a drop of
1.22 percentage points from the previous week, The Journal
relates.  The Company pays 225 basis points above LIBOR to borrow
under the facility.  The bank loan matures on March 1, 2014, and
carries Moody's B1 rating and Standard & Poor's B+ rating.  The
debt is one of the biggest gainers and losers among 198 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

Headquartered in Broomfield, Colorado, Level 3 Communications,
Inc., is a publicly traded international communications company
with one of the world's largest communications and Internet
backbones.

Level 3 Communications carries a 'Caa1' corporate family rating,
and 'Caa2' probability of default rating, with negative outlook
from Moody's, a 'B-' issuer default rating from Fitch, and 'B-'
long term issuer credit ratings from Standard & Poor's.


LOUIS PUGLIESE: Selling Sharpsburgh, Pa., Real Estate
-----------------------------------------------------
Louis P. Pugliese and Lisa M. Pugliese have asked the Honorable
Jeffery A. Deller to authorize the sale of their real estate
located at 1870 Main Street in Sharpsburg, Pa., to the highest and
best bidder, free and clear of all liens and other encumbrances,
at a sale hearing scheduled for 10:00 a.m. on June 8, 2010, in
Pittsburgh.

Objections, if any, must be filed and served on or before June 1,
2010.

Arrangements for inspection prior to said sale hearing may be made
with:

         J. Michael McCormick, Esq.
         314 Center Avenue
         P.O. Box 64
         Verona, PA 15147-0064
         Telephone: (412) 828-8490

Louis P. Pugliese dba Advanced Specialty Flooring fdba EFS
Flooring System, Inc., and Lisa M. Pugliese sought chapter 11
protection (Bankr. W.D. Pa. Case No. 09-22660) on April 14, 2009,
and a copy of the Debtors' chapter 11 petition is available at
http://bankrupt.com/misc/pawb09-22660.pdfat no charge.


LYONDELL CHEMICAL: AKzo to Stick With $73MM Environmental Claim
---------------------------------------------------------------
Bankruptcy Law360 reports that a lawyer for a Lyondell Chemical
Co. subsidiary told a bankruptcy judge Thursday that Akzo Nobel
Paints LLC is aiming to stick it with a $73 million environmental
claim or major lead liabilities by demanding a decision on
contracts related to a decades-past sale of the Glidden paint
brand.

LyondellBasell Industries is one of the world's largest polymers,
petrochemicals and fuels companies.  It is the global leader in
polyolefins technology, production and marketing; a pioneer in
propylene oxide and derivatives; and a significant producer of
fuels and refined products, including biofuels.  Through research
and development, LyondellBasell develops innovative materials and
technologies that deliver exceptional customer value and products
that improve quality of life for people around the world.
Headquartered in The Netherlands, LyondellBasell --
http://www.lyondellbasell.com/-- is privately owned by Access
Industries.

Basell AF and Lyondell Chemical Company merged operations in 2007
to form LyondellBasell Industries, the world's third largest
independent chemical company.  LyondellBasell became saddled with
debt as part of the US$12.7 billion merger.  On January 6, 2009,
LyondellBasell Industries' U.S. operations and one of its European
holding companies -- Basell Germany Holdings GmbH -- filed
voluntary petitions to reorganize under Chapter 11 of the U.S.
Bankruptcy Code to facilitate a restructuring of the company's
debts.  The case is In re Lyondell Chemical Company, et al.,
Bankr. S.D.N.Y. Lead Case No. 09-10023).  Seventy-nine Lyondell
entities, including Equistar Chemicals, LP, Lyondell Chemical
Company, Millennium Chemicals Inc., and Wyatt Industries, Inc.
filed for Chapter 11.  In May 2009, one of the cases was dismissed
-- Case No. 09-10068 -- because it is duplicative of Case No. 09-
10040 relating to Debtor Glidden Latin America Holdings.

The Hon. Robert E. Gerber presides over the case.  Deryck A.
Palmer, Esq., at Cadwalader, Wickersham & Taft LLP, in New York,
serves as the Debtors' bankruptcy counsel.  Evercore Partners
serves as financial advisors, and Alix Partners and its subsidiary
AP Services LLC, serves as restructuring advisors.  AlixPartners'
Kevin M. McShea acts as the Debtors' Chief Restructuring Officer.
Clifford Chance LLP serves as restructuring advisors to the
European entities.  Lyondell Chemical estimated that consolidated
assets total US$27.12 billion and debts total US$19.34 billion as
of the bankruptcy filing date.

Lyondell has obtained approximately US$8 billion in DIP financing
to fund continuing operations.  The DIP financing includes two
credit agreements: a US$6.5 billion term loan, which comprises a
US$3.25 billion in new loans and a US$3.25 billion roll-up of
existing loans; and a US$1.57 billion asset-backed lending
facility.

LyondellBasell Industries AF S.C.A. and another affiliate were
voluntarily added to Lyondell Chemical's reorganization filing
under Chapter 11 on April 24, 2009, in order to seek protection
against claims by certain financial and U.S. trade creditors.  On
May 8, 2009, LyondellBasell Industries added 13 non-operating
entities to Lyondell Chemical Company's reorganization filing
under Chapter 11 of the U.S. Bankruptcy Code.  All of the entities
are U.S. companies and were added to the original Chapter 11
filing for administrative purposes.

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


MAGNA ENTERTAINMENT: TrackNet Media Venture to be Dissolved
-----------------------------------------------------------
Churchill Downs Incorporated and MI Developments Inc. disclosed
that the joint venture TrackNet Media Group, originally formed
between CDI and Magna Entertainment Corp., will be dissolved.  CDI
and MID's wholly owned subsidiary MI Developments Investments Inc.
will remain partners in HorseRacing TV(TM).  MI Developments
Investments Inc. is the successor in interest to MEC's ownership
interests in TrackNet Media and HRTV pursuant to the final
resolution of MEC's federal bankruptcy proceedings.

When TrackNet Media was formed in March 2007, MEC and CDI
established four primary objectives for the entity:

    1.  Foster an open and competitive business environment where
        Horse racing content is readily available to customers
        through a wide variety of distribution points and wagering
        platforms;

    2.  Create an innovation-based environment of sustainable
        growth for the North American horse racing industry
        domestically and internationally;

    3.  Enhance wagering integrity and security to address horse
        Racing signal piracy and ensure content creators are
        compensated; and

    4.  Benefit the horsemen and racetracks that together create
        Racing content through new industry growth.

                      About Magna Entertainment

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

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

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

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

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


MARK MATOVICH: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Joint Debtors: Mark J. Matovich
               Melissa P. Matovich
               234 Chico Avenue
               Santa Cruz, CA 95060

Bankruptcy Case No.: 10-54838

Chapter 11 Petition Date: May 10, 2010

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

Judge: Roger L. Efremsky

Debtor's Counsel: Judson T. Farley, Esq.
                  Law Offices of Judson T. Farley
                  830 Bay Avenue #B
                  Capitola, CA 95010-2173
                  Tel: (831)476-1766
                  E-mail: judsonfarley@sbcglobal.net

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

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

According to the schedules, the Joint Debtors say that assets
total $2,391,860 while debts total $3,015,915.

A copy of the Joint Debtors' list of 20 largest unsecured
creditors filed together with the petition is available for free
at http://bankrupt.com/misc/canb10-54838.pdf

The petition was signed by the Joint Debtors.


MARY TAPLETT: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: Mary L. Taplett
        3630 N. Empire
        East Wenatchee, WA 98802
        Tel: (509) 421-0931

Bankruptcy Case No.: 10-02835

Chapter 11 Petition Date: May 10, 2010

Court: United States Bankruptcy Court
       Eastern District of Washington (Spokane/Yakima)

Judge: Patricia C Williams

Debtor's Counsel: Christina M. Davitt, Esq.
                  Davitt Law Group PLLC
                  1630 N Wenatchee Ave Ste 18
                  Wenatchee, WA 98801
                  Tel: (509) 888-2925
                  Fax: (509) 888-2926
                  E-mail: christina@davittlaw.com

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

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

The petition was signed by Mary L. Taplett.

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

Debtor-affiliates that filed separate Chapter 11 petitions:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Taplett Family Ltd. Partnership        09-00516    02/05/09
Taplett Orchard, Inc.                  09-06979    12/17/09


MERCER INTERNATIONAL: Files Copies of Presentation Materials
------------------------------------------------------------
Mercer International Inc. filed with the Securities and Exchange
Commission copies of these presentation materials:

     -- "Addressing Bioenergy Barriers in BC Workshop," dated
        May 12, 2010

        See http://ResearchArchives.com/t/s?6226

     -- "Transformation through Innovation," dated May 11, 2010,
        for the 23rd Annual PWC Global Forest & Paper Industry
        Conference

        See http://ResearchArchives.com/t/s?6227

As reported by the Troubled Company Reporter on May 10, 2010, the
Company said it incurred a net loss of EUR11.2 million on EUR180.2
million of total revenues for the three months ended March 31,
2010, compared with a net loss of EUR48.6 million on EUR139.5
million of total revenues for the same period a year earlier.

The Company's balance sheet at March 31, 2010, showed EUR1.11
billion total assets and EUR1.02 billion total liabilities, for a
EUR88.8 million total stockholders' equity.

                   About Mercer International

Vancouver-based Mercer International Inc. (Nasdaq: MERC, TSX:
MRI.U) -- http://www.mercerint.com/-- is a global pulp
manufacturing company.

As reported by the Troubled Company Reporter on May 10, 2010,
Standard & Poor's Ratings Services raised its ratings on Mercer
International, including raising the corporate credit rating to
'B-' from 'CCC+'.  The rating outlook is positive.

At the same time, S&P raised the issue-level rating on the
company's unsecured notes due 2013 to 'B-' (the same as the
corporate credit rating), from 'CCC+'.  The recovery rating
remains '4', indicating S&P's expectation of average (albeit at
the low end of the 30% to 50%) recovery in the event of a payment
default.


MESA AIR GROUP: Committee Wins OK for Macquarie as Fin'l Advisor
----------------------------------------------------------------
The Official Committee of Unsecured Creditors in Mesa Air Group
Inc.'s cases won court approval to retain Macquarie Capital (USA)
Inc., as its financial advisor and investment banker, nunc pro
tunc to January 21, 2010, in accordance with a certain letter
agreement entered on the same date.

According to Brian Bruce of the Air Line Pilots Association,
International, co-chairperson of the Creditors' Committee,
Macquarie will perform services including:

  (a) advise the Creditors' Committee regarding the Debtors'
      business plans, cash flow forecasts, financial projections
      and cash flow reporting;

  (b) advise the Creditors' Committee with respect to available
      capital restructuring, sale and financing alternatives;

  (c) advise the Creditors' Committee regarding financial
      information prepared by the Debtors, and in its
      coordination of communication with interested parties and
      their advisors;

  (d) advise the Creditors' Committee in the development of a
      plan of reorganization for the Debtors and negotiation
      with parties-in-interest, or in the sale of a portion or
      substantially all of the Debtors' assets; and

  (e) advise the Creditors' Committee as to the Debtors'
      proposals from third parties for new sources of capital or
      the sale of the Debtors.

Macquarie will be paid for the Services:

  (a) A monthly fee of $125,000; and

  (b) At the discretion of the Creditors' Committee, a
      completion fee of $1,000,000, upon consummation of a
      restructuring or a transaction.

As Macquarie docs not customarily maintain detailed time records
similar to those customarily maintained by attorneys, and because
the firm's services would not be compensated by reference to the
number of hours, and the Agreement provides that Macquarie
will receive certain fixed fees, the Creditors' Committee asks
that the firm be permitted to maintain time records for services
in one-half hour increments.

The firm will also seek reimbursement of actual, necessary
expenses and other charges incurred.

As set forth in the Agreement, and subject to certain terms and
conditions, the Creditors' Committee asks that the Debtors
indemnify Macquarie and certain related parties from losses
directly or indirectly related to the engagement of the firm.
The payment of indemnity pursuant to the Agreement will be
subject an application of the Court, and will be subject to
review by the Court to ensure that payment of the indemnity
conforms to the terms of the Agreement and is reasonable based
upon the circumstances of the litigation or settlement in respect
of which indemnity is sought, Mr. Bruce says.

R. Edward Albert, managing director of Macquarie, discloses that
the firm has represented, currently represents, and will likely
in the future represent certain interested parties or potential
interested parties in the Debtors' Chapter 11 cases in matters
unrelated to the Debtors, their cases, or the entities' claims
against the Debtors.  As part of its customary practice, the firm
is retained in cases, proceedings and transactions involving many
different parties throughout the United States and worldwide,
some of whom may represent or be employed by the Debtors,
claimants, and interested parties.

As part of their practices, Macquarie and its affiliates may
appear in cases, proceedings and transactions involving many
different attorneys, accountants and financial advisors, some of
which may represent or be claimants or parties-in-interest in
these cases.  Macquarie and its affiliates are not representing
these professionals in the Debtors' Chapter 11 cases, and do not
have any relationship with entities that would cause the firm to
be adverse to the Debtors or materially adverse to any class of
the Debtors' creditors or equity security holders, Mr. Albert
assures the Court.

Macquarie is a member firm of the Macquarie Group, a diversified
international provider of specialist investment, advisory,
trading and financial services in select markets around the
world.  MG is headquartered in Sydney, Australia.

With customer accounts and investment banking and financial
advisory clients around the world, it is possible that one or
more of MG's clients or counter parties to transactions with MG
may hold a claim or otherwise be an interested party in the
Debtors' bankruptcy cases, Mr. Albert informs the Court.  He
assures the Court, however, that none of these business
relationships constitutes interests of Macquarie that are adverse
to the Debtors or materially adverse to any class of the Debtors'
creditors or equity security holders.

He adds that Macquarie will not accept any engagement that would
require it to represent an interest adverse to the Creditors'
Committee or materially adverse to the Debtors' creditors or
equity security holders while retained by the Committee.

Macquarie does not hold or represent any interest adverse to the
Debtors' estates.  The firm is a disinterested person, as the
term is defined in Section 101(14) of the Bankruptcy Code, Mr.
Albert attests.

                     About Mesa Air Group

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

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

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

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


METRO-GOLDWYN-MAYER: Debt Trades at 56% Off in Secondary Market
---------------------------------------------------------------
Participations in a syndicated loan under which Metro-Goldwyn-
Mayer, Inc., is a borrower traded in the secondary market at 43.78
cents-on-the-dollar during the week ended Friday, May 14, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents a drop of 1.99
percentage points from the previous week, The Journal relates.
The Company pays 275 basis points above LIBOR to borrow under the
facility, which matures on April 8, 2012.  The debt is not rated
by Moody's and Standard & Poor's.  The debt is one of the biggest
gainers and losers among 198 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended Friday.

Metro-Goldwyn-Mayer, Inc., is an independent, privately held
motion picture, television, home video, and theatrical production
and Distribution Company.  The Company owns the world's largest
library of modern films, comprising approximately 4,000 titles,
and over 10,400 episodes of television programming.  An investor
consortium, comprised of Providence Equity Partners, TPG Capital,
Sony Corporation of America, Comcast Corporation, DLJ Merchant
Banking Partners and Quadrangle Group, owns MGM.

As reported by the Troubled Company Reporter on Sept. 30, 2009,
The New York Post, citing multiple sources, said discussions
between debt holders and equity owners on a restructuring of
Metro-Goldwyn-Mayer's massive debt load have begun on a
contentious note, with both sides threatening to force MGM into
bankruptcy in order to gain leverage and extract better terms from
the other.

Bloomberg also said that MGM is in talks to skip interest payments
and restructure $3.7 billion in bank loans.  MGM asked creditors
to waive $12 million monthly interest payments until Feb. 15,
2010.


MICHAELS STORES: Bank Debt Trades at 7% Off in Secondary Market
---------------------------------------------------------------
Participations in a syndicated loan under which Michaels Stores,
Inc., is a borrower traded in the secondary market at 93.49 cents-
on-the-dollar during the week ended Friday, May 14, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents a drop of 1.63
percentage points from the previous week, The Journal relates.
The Company pays 225 basis points above LIBOR to borrow under the
facility.  The bank loan matures on Oct. 31, 2013, and carries
Moody's B3 rating and Standard & Poor's B rating.  The debt is one
of the biggest gainers and losers among 198 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

Headquartered in Irving, Texas, Michaels Stores, Inc., is the
largest arts and crafts specialty retailer in North America.  As
of March 9, 2009, the Company operated 1,105 "Michaels" retail
stores in the United States and Canada and 161 Aaron Brothers
Stores.


MIDDLEBROOK PHARMACEUTICALS: Has Contract to Sell Victory Pharma
----------------------------------------------------------------
MiddleBrook Pharmaceuticals, Inc. has entered into an asset
purchase agreement with Victory Pharma, Inc. for the sale of
substantially all of its assets, and assumption of trade sales and
certain other liabilities, of the Company for approximately $17.1
million.  The Acquisition is subject to customary closing
conditions, a competitive auction process supervised by the United
States Bankruptcy Court for the District of Delaware in which
MiddleBrook will seek competing bids to obtain the best offer
possible for its assets, and approval of the Bankruptcy Court.

"During the Bankruptcy Court supervised process, we remain
committed to continuing to promote MOXATAG(R) utilizing our third
party partner's electronic promotion program and maintaining
MOXATAG and KEFLEX(R) product availability to our trade sales
customers," said David Becker, MiddleBrook Executive Vice
President and Chief Financial Officer, and Acting President and
Chief Executive Officer.

                About MiddleBrook Pharmaceuticals

Westlake, Texas-based Middlebrook Pharmaceuticals, Inc., aka
Advancis Pharmaceuticals Corporation, is a pharmaceutical company
focused on commercializing anti-infective products that fulfill
unmet medical needs. MiddleBrook's proprietary delivery
technology, PULSYS, enables the pulsatile delivery, or delivery in
rapid bursts, of certain drugs.  MiddleBrook currently markets
MOXATAG, the first and only FDA-approved once-daily amoxicillin,
and KEFLEX, the immediate-release brand of cephalexin.

The Company filed for Chapter 11 bankruptcy protection on
April 30, 2010 (Bankr. D. Del. Case No. 10-11485).  Joel A. Waite,
Esq., at Young, Conaway, Stargatt & Taylor, assists the Company in
its restructuring effort.  The Company estimated its assets and
debts at $10,000,001 to $50,000,000.


MIDWEST BANK AND TRUST: Closed; Firstmerit Bank Assumes Deposits
----------------------------------------------------------------
Midwest Bank and Trust Company of Elmwood Park, Ill., was closed
on May 14, 2010, by the Illinois Department of Financial
Professional Regulation - Division of Banking, which appointed the
Federal Deposit Insurance Corporation as receiver.  To protect the
depositors, the FDIC entered into a purchase and assumption
agreement with Firstmerit Bank, National Association, of Akron,
Ohio, to assume all of the deposits of Midwest Bank and Trust
Company.

The 23 branches of Midwest Bank and Trust Company will reopen
during normal business hours as branches of Firstmerit Bank,
National Association.  Depositors of Midwest Bank and Trust
Company will automatically become depositors of Firstmerit Bank,
National Association.  Deposits will continue to be insured by the
FDIC, so there is no need for customers to change their banking
relationship to retain their deposit insurance coverage.
Customers should continue to use their existing branch until they
receive notice from Firstmerit Bank, National Association that it
has completed systems changes to allow other Firstmerit Bank,
National Association branches to process their accounts as well.

As of March 31, 2010, Midwest Bank and Trust Company had around
$3.17 billion in total assets and $2.42 billion in total deposits.
Firstmerit Bank, National Association, will pay the FDIC a premium
of 0.4 percent to assume all of the deposits of Midwest Bank and
Trust Company.  In addition to assuming all of the deposits of the
failed bank, Firstmerit Bank, National Association agreed to
purchase essentially all of the assets.

The FDIC and Firstmerit Bank, National Association, entered into a
loss-share transaction on $2.27 billion of Midwest Bank and Trust
Company's assets.  Firstmerit Bank, National Association will
share in the losses on the asset pools covered under the loss-
share agreement.  The loss-share transaction is projected to
maximize returns on the assets covered by keeping them in the
private sector.  The transaction also is expected to minimize
disruptions for loan customers.  For more information on loss
share, please visit:

http://www.fdic.gov/bank/individual/failed/lossshare/index.html

Customers who have questions about the transaction can call the
FDIC toll-free at 1-800-894-3219.  Interested parties also can
visit the FDIC's Web site at

http://www.fdic.gov/bank/individual/failed/midwestil.html

As part of this transaction, the FDIC will acquire a value
appreciation instrument.  This instrument serves as additional
consideration for the transaction.

The FDIC estimates that the cost to the Deposit Insurance Fund
will be $216.4 million.  Firstmerit Bank, National Association's
acquisition of all the deposits was the "least costly" resolution
for the FDIC's DIF compared to all alternatives.  Midwest Bank and
Trust Company is the 72nd FDIC-insured institution to fail in the
nation this year, and the eleventh in Illinois.  The last FDIC-
insured institution closed in the state was New Century Bank,
Chicago, on April 23, 2010.


MOVIE GALLERY: Selects Great American as Stalking Horse Bidder
--------------------------------------------------------------
Movie Gallery, Inc. filed a motion with the U.S. Bankruptcy Court
for the Eastern District of Virginia seeking approval of an
agreement with Great American WF, LLC to conduct going-out-of-
business sales at the chain's remaining U.S. stores and complete
the sale of substantially all of the company's remaining assets.

netDockets Blog reports that, under the agreement, Great American
guarantees that Movie Gallery's estates will receive at least
$62.3 million in proceeds from the liquidation.  The report
relates that in exchange, Great American would receive a 3% "base
fee" of the comprehensive sale proceeds, as well as two potential
additional tranches of recovery.  In addition, Great American
would be entitled to keep any unsold merchandise from the store
locations remaining at the termination of the GOB sales, the
report adds.

netDockets Blog discloses that Movie Gallery's proposed agreement
with Great American is subject to a competitive bidding process.
In exchange, the report relates, it is proposed that Great
American would be entitled to a $1.75 million break-up fee and a
$100,000 expense reimbursement in the event that it is not the
winning bidder at auction.

netDockets Blog relates Movie Gallery said it has had "discussions
and negotiations" with other potential bidders but determined that
all other bids received were inferior.  The report relates that
because of the exigent circumstances surrounding Movie Gallery's
on-going liquidation, the company is proposing that any competing
bids be submitted before the commencement of a sale hearing and,
if any qualified bids are received, the court conduct an auction
in open court at the sale hearing.

netDockets Blog points out that in order to be a qualifying bid, a
competing bid would have to guarantee a minimum of $64.35 million
in cash consideration and include a 10% good faith deposit.

                      About Movie Gallery

Based in Wilsonville, Ore., Movie Gallery, Inc. is the second
largest North American video and game rental company, operating
stores in the U.S. and Canada under the Movie Gallery, Hollywood
Video and Game Crazy brands.

                           *     *     *

As reported in the Troubled Company Reporter on May 5, 2010, Movie
Gallery, Inc. and all of its subsidiaries, with the exception of
its Canadian subsidiary, filed voluntary petitions for Chapter 11
reorganization in the U.S. Bankruptcy Court for the Eastern
District of Virginia, Richmond Division, to address the company's
capital structure and reorganize its business operations.  The
restructuring will include the immediate liquidation and closure
of approximately 760 stores in the U.S. Store locator tools on the
Movie Gallery, Hollywood Video and Game Crazy Web sites can be
used to confirm the status of individual stores.  After these
initial store closings, the company will operate 1,906 stores in
the U.S., including 1,111 Movie Gallery, 545 Hollywood Video and
250 Game Crazy locations.  The company anticipates closing
additional stores during the Chapter 11 process.


MIDWAY GAMES: Wants More Exclusivity If Confirmation Fails
----------------------------------------------------------
Midway Games Inc. asks the Court to extend its exclusive period to
propose a Chapter 11 plan.  Midway is scheduled to seek approval
of its liquidating plan at the May 21 confirmation hearing.
However, out of an abundance of caution, Midway asks the Court for
an eight extension of the exclusive period.  A hearing on the
extension is scheduled for June 23.

                        About Midway Games

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

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 was roughly $49 million, including
the assumption of certain liabilities.  Midway is disposing of its
remaining assets.

At June 30, 2009, the Debtors reported $1.39 billion in assets and
$1.59 billion in liabilities.  The Debtors' project that unsecured
creditors will recover between 16.5% and 25% on account of their
prepetition claims under the Company's Chapter 11 plan of
liquidation.


NEENAH ENTERPRISES: Governmental Unit Bar Date Set for August 6
---------------------------------------------------------------
The Hon. Mary F. Walrath of the U.S. Bankruptcy Court for the
District of Delaware has established August 6, 2010, at 4:00 p.m.
(prevailing Eastern Time) as the deadline for all governmental
units to file proofs of claim against Neenah Enterprises, Inc.

Headquartered in Neenah, Wisconsin, Neenah Enterprises, Inc. --
http://www.nfco.com/-- is the indirect parent holding company of
Neenah Foundry Company. Neenah Foundry Company and its
subsidiaries manufacture and market a wide range of iron castings
and steel forgings for the heavy municipal market and selected
segments of the industrial markets.  Neenah is one of the largest
independent foundry companies in the United States, with
substantial market share in the municipal and various industrial
markets for gray and ductile iron castings and forged steel
products.

The Company filed for Chapter 11 bankruptcy protection on
February 3, 2010 (Bankr. D. Del. Case No. 10-10360).  Edmon L.
Morton, Esq., and Kenneth J. Enos, Esq., assist the Company in its
restructuring effort.  The Company had $286,611,000 in total
assets against total liabilities of $449,435,000, resulting in
stockholder's deficit of $162,824,000.

The Company's affiliates -- NFC Castings, Inc.; Neenah Foundry
Company; Cast Alloys, Inc.; Neenah Transport, Inc.; Advanced Cast
Products, Inc.; Gregg Industries, Inc.; Mercer Forge Corporation;
Deeter Foundry, Inc.; and Dalton Corporation -- filed separate
Chapter 11 petitions.


NEIMAN MARCUS: Bank Debt Trades at 6% Off in Secondary Market
-------------------------------------------------------------
Participations in a syndicated loan under which Neiman Marcus
Group, Inc., is a borrower traded in the secondary market at 93.84
cents-on-the-dollar during the week ended Friday, May 14, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents a drop of 1.07
percentage points from the previous week, The Journal relates.
The Company pays 200 basis points above LIBOR to borrow under the
facility.  The bank loan matures on April 6, 2013, and carries
Moody's B3 rating and Standard & Poor's BB- rating.  The debt is
one of the biggest gainers and losers among 198 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

Neiman Marcus Group, Inc., headquartered in Dallas, Texas,
operates 40 Neiman Marcus stores, 2 Bergdorf Goodman stores, 27
clearance centers, and a direct business.  Total revenues are
about $3.9 billion.

The Company carries a 'Caa1' Corporate Family Rating and 'Caa1'
Probability of Default Rating from Moody's Investors Service.


NEW LIBERTY BANK: Closed; Bank of Ann Arbor Assumes All Deposits
----------------------------------------------------------------
New Liberty Bank of Plymouth, Mich., was closed on May 14, 2010,
by the Michigan Office of Financial and Insurance Regulation,
which appointed the Federal Deposit Insurance Corporation as
receiver.  To protect the depositors, the FDIC entered into a
purchase and assumption agreement with Bank of Ann Arbor in Ann
Arbor, Mich., to assume all of the deposits of New Liberty Bank.

The sole branch of New Liberty Bank will reopen during normal
business hours as a branch of Bank of Ann Arbor.  Depositors of
New Liberty Bank will automatically become depositors of Bank of
Ann Arbor.  Deposits will continue to be insured by the FDIC, so
there is no need for customers to change their banking
relationship to retain their deposit insurance coverage.
Customers should continue to use their existing branch until they
receive notice from Bank of Ann Arbor that it has completed
systems changes to allow other Bank of Ann Arbor branches to
process their accounts as well.

As of March 31, 2010, New Liberty Bank had around $109.1 million
in total assets and $101.8 million in total deposits.  Bank of Ann
Arbor did not pay the FDIC a premium for the deposits of New
Liberty Bank.  In addition to assuming all of the deposits of the
failed bank, Bank of Ann Arbor agreed to purchase essentially all
of the assets.

The FDIC and Bank of Ann Arbor entered into a loss-share
transaction on $95.2 million of New Liberty Bank's assets.  Bank
of Ann Arbor will share in the losses on the asset pools covered
under the loss-share agreement.  The loss-share transaction is
projected to maximize returns on the assets covered by keeping
them in the private sector.  The transaction also is expected to
minimize disruptions for loan customers.  For more information on
loss share, please visit:

http://www.fdic.gov/bank/individual/failed/lossshare/index.html

Customers who have questions about the transaction can call the
FDIC toll-free at 1-800-894-6992.  Interested parties also can
visit the FDIC's Web site at

http://www.fdic.gov/bank/individual/failed/newlibertymi.html

The FDIC estimates that the cost to the Deposit Insurance Fund
will be $25.0 million.  Bank of Ann Arbor's acquisition of all the
deposits was the "least costly" resolution for the FDIC's DIF
compared to all alternatives.  New Liberty Bank is the 70th FDIC-
insured institution to fail in the nation this year, and the third
in Michigan.  The last FDIC-insured institution closed in the
state was CF Bancorp of Port Huron, on April 30, 2010.


NEWLOOK INDUSTRIES: Can't File Audited Financial Statements
-----------------------------------------------------------
Newlook Industries Corp. provides its initial bi-weekly Default
Status Report in accordance with National Policy 12-203 ("NP 12-
203"). In a press release dated April 28, 2010, the Company
announced that it would not be able to file its audited financial
statements and management discussion and analysis for the year
ended December 31, 2009 on or before the prescribed deadline of
April 30, 2010.

As requested by Newlook in an application submitted under NP 12-
203, the Ontario Securities Commission issued a temporary
management cease trade order rather than a general cease trade
order in respect of the late filings, as previously announced on
May 6, 2010.  The MCTO was issued to the Company's Chief Executive
Officer and Chief Financial Officer, thereby temporarily
prohibiting them from trading in the securities of the Company.

Pursuant to NP 12-203, Newlook confirms that except as described
herein and in its initial default announcement: (i) that it has
taken recent action to remedy the default that includes the
appointment of Jason Moretto as Chief Financial Officer.  There
are no additional material changes to the information contained in
the original default announcement; (ii) there has been no failure
by the Company in fulfilling its stated intention with respect to
satisfying the provisions of the alternative information
guidelines; (iii) there is no actual or anticipated specified
default subsequent to the default which is the subject of the
default announcement; and (iv) there is no other material
information concerning the affairs of the Company that has not
been generally disclosed.

As contemplated by NP 12-203, Newlook shall continue to issue bi-
weekly default status reports in order to keep the market
continuously informed of any developments during the period of
default.

                     About Newlook Industries

Newlook Industries Corp., headquartered in King City, Ontario is a
publicly traded company listed on the TSX Venture Exchange.


NEXHORIZON COMMUNICATIONS: Voluntary Chapter 11 Case Summary
------------------------------------------------------------
Debtor: NexHorizon Communications, Inc.
          aka International Telekom, LLC
              Y-Tel International, Inc.
              Y-Tell International, LLC
              Consolidated Picture Corp.
              NexHorizon of Oklahoma, Inc.
              Wholly-owned Subsidiaries:
              Y-Tell International Panama, SA
              Satellite Networks, Inc.
              NexHorizon Broadband of Southern California, Inc.
              (formerly National City Cable, Inc)
        9737 Wadsworth Parkway
        Westminster, CO 80021

Bankruptcy Case No.: 10-21400

Chapter 11 Petition Date: May 10, 2010

Court: U.S. Bankruptcy Court
       District of Colorado (Denver)

Judge: Elizabeth E. Brown

Debtor's Counsel: James E. Pratt, Esq.
                  195 Kildare Road
                  Garden City, NY 11530
                  Tel: (516) 741-2978

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 Calvin D. Smiley Sr., president/CEO.


NEXSTAR BROADCASTING: Swings to $3,673,000 Net Loss for Q1 2010
---------------------------------------------------------------
Nexstar Broadcasting Group, Inc., swung to a net loss of
$3,673,000 for the three months ended March 31, 2010, from net
income of $6,052,000 for the same period in 2009.  The Company
reported net revenue of $68,626,000 for the 2010 first quarter
from $55,468,000 for the 2009 first quarter.

At March 31, 2010, the Company had total assets of $603,022,000
against total liabilities of $782,673,000, resulting in
stockholders' deficit of $179,651,000.

In a press statement on May 12, 2010, Perry A. Sook, the Company's
Chairman, President and Chief Executive Officer, commented,
"Nexstar's record first quarter net revenue reflects solid growth
from all of our revenue sources and again demonstrates the value
and success of our diversification strategies.  Our 23.7% rise in
first quarter net revenue drove record first quarter BCF, EBITDA
and free cash flow, highlighting the significant operating
leverage in our business model.

"Nexstar's commitment to growing new revenue streams and
leveraging our local platform by building out our `quadruple play'
of revenue drivers continues to serve us well in the strengthening
economy and ad environment.  During the first quarter we generated
a 17.6% year-over-year increase in aggregate core local and
national revenue and a 23.1% rise in gross ad revenue inclusive of
political advertising.  First quarter 2010 automotive advertising
rose 40% on a year-over-year basis and the Company generated a 13%
overall increase in billings from its top ten advertising
categories in the 2010 first quarter.

"The gains in our core television operations were complemented by
continued significant double digit growth in first quarter
retransmission fee revenue which rose 39.9% to $7.4 million, a
record level of quarterly revenue from this source, and a 25.9%
increase in e-MEDIA revenues to $3.0 million, our fourteenth
consecutive period of revenue growth for Nexstar's community web
portal strategy.  In addition to the solid year-over year revenue
growth from these sources, Nexstar recorded approximately $0.5
million of management fee revenue in the 2010 first quarter.  In
total, these higher margin revenue streams accounted for 15.8% of
2010 first quarter net revenue compared with 13.9% of revenue in
the comparable year ago period.

"Our continued focus on expense management and achieving further
operating efficiencies resulted in record 2010 first quarter
operating income of $9.8 million and free cash flow of $8.9
million compared to negative free cash flow in the year ago period
attributable to the loss from operations related to expenses
incurred for the exchange offer completed during the 2009 first
quarter.

"During and subsequent to the first quarter, we further re-
engineered the balance sheet to improve liquidity, extend bank
maturities and eliminate pricing increases on certain pieces of
our capital structure.  In this regard, during the first quarter
Nexstar purchased approximately $1.0 million of its outstanding
13% Senior Subordinated Payment In Kind (PIK) notes due 2014 at a
discount and in April 2010 we completed an offering of $325.0
million of 8.875% senior secured second lien notes while securing
senior secured credit facility amendments.  We applied the net
proceeds from the offering, together with borrowings and cash on
hand, to repurchase approximately $34.3 million of the remaining
outstanding 13% PIK notes, to refinance the existing senior
secured credit facilities and for general corporate purposes.

"The 2010 first quarter results confirm our expectation that
initial increases in core advertising activity achieved in late
2009 will extend throughout 2010.  In addition, we believe 2010
presents Nexstar with prospects for continued growth from all of
our revenue sources and these prospects underscore the value of
our initiatives to transition the traditional television
broadcasting operating model into a multi-tiered model of high
margin revenue streams.  The expected revenue increases combined
with operating and cost efficiencies and limited 2010 cap-ex
commitments positions Nexstar to generate record free cash flow in
2010 which will be deployed for debt reduction and new value
creating initiatives."

A full-text copy of the Company's earnings release is available at
no charge at http://ResearchArchives.com/t/s?6228

A full-text copy of the Company's quarterly report on Form 10-Q is
available at no charge at http://ResearchArchives.com/t/s?6229

                  About Nexstar Broadcasting Group

Irving, Texas-based Nexstar Broadcasting Group Inc. currently
owns, operates, programs or provides sales and other services to
62 television stations in 34 markets in the states of Illinois,
Indiana, Maryland, Missouri, Montana, Texas, Pennsylvania,
Louisiana, Arkansas, Alabama, New York, Rhode Island, Utah and
Florida. N exstar's television station group includes affiliates
of NBC, CBS, ABC, FOX, MyNetworkTV and The CW and reaches
approximately 13 million viewers or approximately 11.5% of all
U.S. television households.

                           *     *     *

According to the Troubled Company Reporter on April 8, 2010,
Standard & Poor's Ratings Services affirmed its ratings on Nexstar
Broadcasting Group Inc., including the 'B-' corporate credit
rating.  The rating outlook is positive.


NEXSTAR BROADCASTING: Annual Stockholders' Meeting Set for May 27
-----------------------------------------------------------------
The Annual Meeting of Stockholders of Nexstar Broadcasting Group,
Inc. will be held at the Nexstar Broadcasting Group, Inc.
headquarters, located at 5215 N. O' Connor Blvd., The Towers at
Williams Square, Central Tower, Suite 1400, in Irving, Texas, on
May 27, 2010 at 9:00 a.m., Central Daylight Time, for these
purposes:

     1. To elect a Board of Directors to serve for the ensuing
        year and until their successors are duly elected and
        qualified.

     2. To ratify the selection of PricewaterhouseCoopers LLP as
        independent registered public accounting firm for the
        fiscal year ending December 31, 2010.

     3. To approve the repricing of certain stock options granted
        under the Company's long-term equity incentive plans.

     4. To consider and act upon such other business and matters
        or proposals as may properly come before the Annual
        Meeting or any adjournment or adjournments thereof.


Stockholders of record at April 20, 2010, are entitled to notice
of, and to vote at, the Annual Meeting and any adjournment or
postponement thereof.

A full-text copy of the Company's proxy statement is available at
no charge at http://ResearchArchives.com/t/s?622a

                  About Nexstar Broadcasting Group

Irving, Texas-based Nexstar Broadcasting Group Inc. currently
owns, operates, programs or provides sales and other services to
62 television stations in 34 markets in the states of Illinois,
Indiana, Maryland, Missouri, Montana, Texas, Pennsylvania,
Louisiana, Arkansas, Alabama, New York, Rhode Island, Utah and
Florida. N exstar's television station group includes affiliates
of NBC, CBS, ABC, FOX, MyNetworkTV and The CW and reaches
approximately 13 million viewers or approximately 11.5% of all
U.S. television households.

At March 31, 2010, the Company had total assets of $603,022,000
against total liabilities of $782,673,000, resulting in
stockholders' deficit of $179,651,000.

                           *     *     *

According to the Troubled Company Reporter on April 8, 2010,
Standard & Poor's Ratings Services affirmed its ratings on Nexstar
Broadcasting Group Inc., including the 'B-' corporate credit
rating.  The rating outlook is positive.


NORT-E-QUIPO INC: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Nort-E-Quipo Inc.
        P.O. Box 2020, Suite 275
        Barceloneta, PR 00617
        Tel: (787) 363-3630

Bankruptcy Case No.: 10-03936

Chapter 11 Petition Date: May 10, 2010

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

Debtor's Counsel: Winston Vidal-Gambaro, Esq.
                  P.O. Box 193673
                  San Juan, PR 00919-3673
                  Tel: (787) 751-2864
                  Fax: (787) 763-6114
                  E-mail: wvidal@prtc.net

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

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

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/prb10-03936.pdf

The petition was signed by Angel Bruno, president.


NORTH POINTE PARK: Voluntary Chapter 11 Case Summary
----------------------------------------------------
Debtor: North Pointe Park Partners, LLC
        401 Pennsylvania Parkway
        Indianapolis, IN 46280

Bankruptcy Case No.: 10-06923

Chapter 11 Petition Date: May 10, 2010

Court: U.S. Bankruptcy Court
       Southern District of Indiana (Indianapolis)

Judge: Frank J. Otte

Debtor's Counsel: Jeffrey J. Graham, Esq.
                  Taft Stettinius & Hollister LLP
                  One Indiana Square, Suite 3500
                  Indianapolis, IN 46204
                  Tel: (317) 713-3500
                  Fax: (317) 713-3699
                  E-mail: jgraham@taftlaw.com

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

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

The list of creditors filed together with its petition does not
contain any entries.

The petition was signed by Michael S. Curless, manager.

Debtor-affiliates filing separate Chapter 11 petition:

        Entity                            Case No.   Petition Date
        ------                            --------   -------------
Lauth Investment Properties, LLC          09-06065        05/01/09
Brier Creek Medical Associates Two, LLC   09-12760        08/29/09
Brier Creek Medical Associates, LLC       09-12761        08/29/09
Brier Creek Medical Partners Two, LLC     09-12762        08/29/09
Brier Creek Medical Partners, LLC         09-12763        08/29/09
Brownsburg Station Partners, LLC          09-12764        08/29/09
LIP Development, LLC                      09-06066        05/01/09
LIP Investment, LLC                       09-06067        05/01/09
MCP Partners Three, LLC                   09-12765        08/29/09
Meridian Medical Associates Two, LLC      09-12766        08/29/09
Meridian Medical Partners Two, LLC        09-12767        08/29/09
Middleburg Heights Medical Assocs. LLC    09-12768        08/29/09
Middleburg Heights Medical Partners, LLC  09-12769        08/29/09
Moores Chapel Partners, LLC               09-12656        08/27/09
Virginia Beach Medical Associates, LLC    09-12770        08/29/09
Virginia Beach Medical Partners, LLC      09-12771        08/29/09


NORTH POINTE: Case Summary & 3 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: North Pointe Partners One, LLC
        401 Pennsylvania Parkway
        Indianapolis, IN 46280

Bankruptcy Case No.: 10-06921

Chapter 11 Petition Date: May 10, 2010

Court: U.S. Bankruptcy Court
       Southern District of Indiana (Indianapolis)

Judge: Basil H. Lorch III

Debtor's Counsel: Jeffrey J. Graham, Esq.
                  Taft Stettinius & Hollister LLP
                  One Indiana Square, Suite 3500
                  Indianapolis, IN 46204
                  Tel: (317) 713-3500
                  Fax: (317) 713-3699
                  E-mail: jgraham@taftlaw.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 S. Curless, manager.

Debtor-affiliates filing separate Chapter 11 petition:

        Entity                            Case No.   Petition Date
        ------                            --------   -------------
Lauth Investment Properties, LLC          09-06065        05/01/09
Brier Creek Medical Associates Two, LLC   09-12760        08/29/09
Brier Creek Medical Associates, LLC       09-12761        08/29/09
Brier Creek Medical Partners Two, LLC     09-12762        08/29/09
Brier Creek Medical Partners, LLC         09-12763        08/29/09
Brownsburg Station Partners, LLC          09-12764        08/29/09
LIP Development, LLC                      09-06066        05/01/09
LIP Investment, LLC                       09-06067        05/01/09
MCP Partners Three, LLC                   09-12765        08/29/09
Meridian Medical Associates Two, LLC      09-12766        08/29/09
Meridian Medical Partners Two, LLC        09-12767        08/29/09
Middleburg Heights Medical Associates,    09-12768        08/29/09
LLC
Middleburg Heights Medical Partners, LLC  09-12769        08/29/09
Moores Chapel Partners, LLC               09-12656        08/27/09
Virginia Beach Medical Associates, LLC    09-12770        08/29/09
Virginia Beach Medical Partners, LLC      09-12771        08/29/09

Debtor's List of 3 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
SouthCoast Landscaping             trade debt               $1,625
114 Mill Pond Court
Summerville, SC 29485

Diversified Realty Services        trade debt                 $250
786 Dragoon Drive
Mount Pleasant, SC 29464

Nexsen Pruet, LLC                  trade debt                 $175
P.O. Box 486
Charleston, SC 29402


NOVASTAR FINANCIAL: Stockholders' Meeting Set for June 17
---------------------------------------------------------
The annual meeting of stockholders of NovaStar Financial, Inc.,
will be held on June 17, 2010 at 10:00 a.m., Central Time, at the
Hyatt Regency Crown Center Hotel, 2345 McGee Street, Kansas City,
Missouri, for these purposes:

     1. To elect two Class II directors to serve until the annual
        meeting of stockholders to be held in 2013 and until their
        successors are elected and qualify;

     2. To ratify the selection of Deloitte & Touche LLP as the
        Company's independent registered public accounting firm
        for the fiscal year ending December 31, 2010; and

     3. To transact such other business as may properly come
        before the annual meeting and any postponement or
        adjournment thereof.

The Board of Directors has fixed the close of business on April
23, 2010, as the record date for determination of stockholders
entitled to notice of, and to vote at, the annual meeting and any
postponement or adjournment thereof.

A full-text copy of the proxy statement is available at no charge
at http://ResearchArchives.com/t/s?6225

                     About NovaStar Financial

NovaStar Financial, Inc., used to originate, purchase, securitize,
sell, invest in and service residential nonconforming mortgage
loans and mortgage backed securities.  During 2007 and early 2008,
NovaStar discontinued its mortgage lending operations and sold its
mortgage servicing rights which subsequently resulted in the
closure of its servicing operations.

At December 31, 2009, the Company had total assets of
$1.459 billion against total liabilities of $2.536 billion,
resulting in shareholders' deficit of $1.076 billion.  At
December 31, 2008, shareholders' deficit was $876.773 million.


NY ASIAN SYMPHONY: Files for Chapter 7 Bankruptcy Liquidation
-------------------------------------------------------------
Jacqueline Palank at Dow Jones' Daily Bankruptcy Review reports
that The New York Asian Symphony Orchestra Inc., filed for Chapter
7 bankruptcy liquidation in Manhattan Friday.

Lewis W. Siegel, Esq., in New York, on behalf of the orchestra,
said the orchestra "didn't have any real sources of funding" or a
way to meet its commitments.  Dow Jones relates Crain's New York
Business said the orchestra stopped playing last year.

According to Ms. Palank, Mr. Siegel said the filing was made to
show the orchestra's creditors that "nothing was there."  The
orchestra disclosed in its petition that it has $8 in total assets
-- $4 each in two bank accounts -- and $990,097 in total debts,
including $333,894 owed to Tokyo-based Conversation & Co, Ltd.,
for Japan tour presenter/coordination fee, and $114,210 owed to
Globers Inc. for Japan tour coordination and loan.

Ms. Palank says the assets don't count musical scores, which the
orchestra hopes could be sold for up to $5,000, or such essential
orchestra equipment as a conductor's podium and about 60 music
stands.

The New York Asian Symphony Orchestra Inc. is a nonprofit
organization founded in 2006 to help young Asian and Asian-
American musicians gain experience as they began their musical
careers.  The orchestra has gone on to perform works by Stravinsky
and Copland throughout Manhattan, including performances at
Lincoln Center.  The orchestra performed at a celebration of the
induction of United Nations Secretary General Ban Ki-moon of South
Korea.


PASADENA PLAYHOUSE: Gen. Unsecured Claims Get Nothing Under Plan
----------------------------------------------------------------
Jacqueline Palank at Dow Jones' Daily Bankruptcy Review reports
that Pasadena Playhouse on Thursday filed its Chapter 11 plan of
reorganization.  Pursuant to the plan:

     -- the Debtor proposes to use donations to pay off more than
        $2 million in debt;

     -- Priority, administrative and secured claims will be paid
        in full;

     -- Season ticket holders can keep their subscriptions or
        donate the value of their claim to the reorganized
        theater.  Lifetime subscribers will receive replacement
        season subscriptions; and

     -- General unsecured creditors won't get anything.

Ms. Palank says Pasadena Playhouse is urging the Bankruptcy Court
to approve its plan quickly, arguing that a speedy bankruptcy is
"imperative" to its future success.  The report says some donors
have provided $232,000 to help defray the theater's expenses in
bankruptcy.  The report adds Pasadena Playhouse said it needs to
raise more funds to get back to its mission of producing "high-
level theater".  According to the report, donors have expressed
interest in providing this funding, but only on one condition.
Pasadena Playhouse "cannot use that money until it emerges and,
notwithstanding the considerable support for the Playhouse in the
community, it seems donors are reluctant to give money to an
organization in bankruptcy," the theater said in court papers.

Pasadena Playhouse expects to file a disclosure statement
explaining its plan by May 19, to have its creditors vote on the
plan by June 8, and to win bankruptcy court approval of the plan
during the first week of July.

The Debtor's largest creditors include Pasadena's Community Bank,
owed nearly $600,000 on two loans, and the city of Pasadena, owed
$49,000 for a loan-guarantee reimbursement.

                     About Pasadena Playhouse

Pasadena Playhouse State Theatre of California Inc. runs the
official theater of the state of California.  Pasadena Playhouse
sought Chapter 11 protection on May 10 in Los Angeles (Bankr. C.D.
Calif. Case No. 10-28586).  The petition listed assets of $247,000
and debt of $2.3 million.

The theater opened in 1925.  Its stage has been dark since
February, when the Playhouse announced that financial trouble
would cause it to halt its run of live performances and lay off
its staff.

The theater filed under Chapter 11 in September 1998.  The case
was dismissed in June 2002.


PASADENA PLAYHOUSE: Voluntary Chapter 11 Case Summary
-----------------------------------------------------
Debtor: The Pasadena Playhouse State Theatre of California, Inc.
        600 N. Rosemead Boulevard
        Pasadena, CA 91107-2101

Bankruptcy Case No.: 10-28586

Chapter 11 Petition Date: May 10, 2010

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

Debtor's Counsel: Barney A Eskandari, Esq.
                  355 S Grand Avenue 35th Floor
                  Los Angeles, CA 90071
                  Tel: (213) 683-9577
                  Fax: (213) 687-3702
                  E-mail: bernard.eskandari@mto.com

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

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 Stephen Eich, executive director.


PATRICK OSGOOD: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Joint Debtors: Patrick M. Osgood
                 dba Osgood Painting & Contracting Services
                     Salem Stoneworks
                     Osgood Stone Works
                     Osgood Stone & Spa
                     Osgood Stone
                     Osgood Spa & Hearth
                     Osgood Fire & Stone
                     Osgood Painting & Contracting
                     Salem Stone
                     Osgood Stoneworks Spa
                     Osgood Landscape
               Jodi H. Osgood
               44 Fox Run Road
               Topsfield, MA 01983

Bankruptcy Case No.: 10-15097

Chapter 11 Petition Date: May 10, 2010

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

Judge: Henry J. Boroff

Debtor's Counsel: John F. Davis, Esq.
                  900 Cummings Center, Suite 207T
                  Beverly, MA 01915
                  Tel: (978) 232-9640
                  Fax: (978) 232-9644
                  E-mail: john@jfdesq.com

Estimated Assets: $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.


PCAA PARENT: Faces U.S. Trustee Objection to Releases
-----------------------------------------------------
Bill Rochelle at Bloomberg News reports that the U.S. Trustee has
a limited objection to the confirmation of PCAA Parent LLC's
proposed reorganization plan, saying it gives broader releases to
third parties than bankruptcy law allows.  Secured and unsecured
creditors have voted in favor of approving the Chapter 11 plan.

At the confirmation hearing, the bankruptcy court will also
consider approval of the sale of the assets to Commercial Finance
Services 2907 Inc., which won an auction in April with a $141
million bid.  The price rose 26% at the auction.

Pursuant to the plan, unsecured creditors will receive at least
$2.83 million from the sale.

                         About PCAA Parent

Essington, Pennsylvania-based PCAA Parent, LLC, runs the largest
domestic off-site airport parking business, operating 31 off-site
airport parking facilities comprising over 40,000 parking spaces
near 20 major airports across the U.S.  The Company owns or leases
its off-airport parking facilities in, among other states,
California, Arizona, Colorado, Texas, Georgia, Tennessee,
Pennsylvania, Connecticut, New York, New Jersey, and Illinois.

The Company filed for Chapter 11 bankruptcy protection on
January 28, 2010 (Bankr. D. Del. Case No. 10-10250).  John Henry
Knight, Esq.; Lee E. Kaufman, Esq.; and Mark D. Collins, Esq.; and
Zachary I. Shapiro, Esq., at Richards, Layton & Finger, P.A.,
assist the Company in its restructuring effort.  The Company
listed $50,000,001 to $100,000,000 in assets and $100,000,001 to
$500,000,000 in liabilities.  Bloomberg News says assets were on
the books for $94 million on Sept. 30, when debt totaled
$233 million.

The Company's affiliates -- PCAA Chicago, LLC; Parking Company of
America Airports, LLC; PCA Airports, Ltd.; PCAA GP, LLC; Parking
Company of America Airports Phoenix, LLC; RCL Properties, LLC;
PCAA LP, LLC; PCAA Properties, LLC; Airport Parking Management,
Inc.; PCAA SP-OK, LLC; PCAA SP, LLC; PCAA Oakland, LLC; and PCAA
Missouri, LLC -- filed separate Chapter 11 bankruptcy petitions.


PETCO ANIMAL: Bank Debt Trades at 3% Off in Secondary Market
------------------------------------------------------------
Participations in a syndicated loan under which PETCO Animal
Supplies, Inc., is a borrower traded in the secondary market at
96.75 cents-on-the-dollar during the week ended Friday, May 14,
2010, according to data compiled by Loan Pricing Corp. and
reported in The Wall Street Journal.  This represents a drop of
1.22 percentage points from the previous week, The Journal
relates.  The Company pays 200 basis points above LIBOR to borrow
under the facility.  The bank loan matures on Sept. 26, 2013, and
carries Moody's B1 rating and Standard & Poor's B+ rating.  The
debt is one of the biggest gainers and losers among 198 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

PETCO Animal Supplies, Inc., headquartered in San Diego,
California, is a specialty retailer of premium supplies, food and
services for household pets.  The Company operates about 1,000
stores in all 50 U.S. states.  Revenues were about $2.6 billion
for the last twelve months ending May 2, 2009.


PHOENIX FOOTWEAR: Reports $440,000 Net Earnings for April 3 Qtr
---------------------------------------------------------------
Phoenix Footwear Group, Inc., reported results for the first
quarter ended April 3, 2010:

     -- Net earnings of $440,000, or $0.05 per share, compared to
        a net loss of $3.0 million for the first quarter of 2009;

     -- Loss from continuing operations of $683,000 compared to a
        loss of $2.7 million for the first quarter of 2009.

     -- Net sales of $5.9 million which included increases of 20%
        and 4% for Trotters and SoftWalk, respectively. In
        aggregate, sales decreased by 3% compared to the first
        quarter of 2009.

     -- Funded bank debt balance of $2.9 million at the close of
        the first quarter, which remained flat compared to the
        close of the fourth quarter of 2009.

At April 3, 2010, the Company had total assets of $13.811 million
against total liabilities of $8.839 million, resulting in
stockholders' equity of $4.972 million.

In its quarterly report on Form 10-Q for the period ended April 3,
2010, the Company said the severe global recession has been
challenging during the past 18 months and has dramatically
affected its business as it is dependent on consumer demand for
its products.  "During this time, we have faced significant
working capital constraints as the result of the decline in our
sales, expenditures and obligations associated with our
restructuring and diminished borrowing capacity. These factors
together with our net losses and negative cash flows during the
past three fiscal years raise substantial doubt about our ability
to continue as a going concern," Phoenix Footwear said.

As reported by the Troubled Company Reporter, Mayer Hoffman McCann
P.C., in San Diego, California, in its March 30, 2010 report,
raised substantial doubt on the Company's ability to continue as a
going concern.  The auditor said the Company has suffered
recurring losses and negative cash flows from continuing
operations.

In a press statement, Russell Hall, President and Chief Executive
Officer, commented, "We are pleased to report strong sales growth
in both of our core brands.  Trotters and SoftWalk have
experienced increases and solid sell-through in most all of our
channels of distribution. Our plans for H.S. Trask are very modest
for the year so the sales decrease in this brand was not
unplanned.  During the quarter we also continued to line up new
customers, opening up 57 new or former accounts, including
reestablishing our brands with key influential retailers such as
Orva in Manhattan and Littles of Pittsburgh, Pa., who have had
past success with our core brands."

Mr. Hall concluded, "We have made steady progress towards a return
to profitability. While we still have work to do, we have been
able to deliver growth in our two core brands and based upon our
future bookings, we expect that trend to continue. The steady
addition of new customers, combined with our growth in assortment
with our key accounts underscores our focus. We will continue
aggressively managing our margins and costs as we look to improve
our performance."

A full-text copy of the Company's earnings release is available at
no charge at http://ResearchArchives.com/t/s?6235

A full-text copy of the Company's quarterly report on Form 10-Q is
available at no charge at http://ResearchArchives.com/t/s?6235

                   About Phoenix Footwear Group

Based in Carlsbad, California, Phoenix Footwear Group, Inc. (NYSE
Amex: PXG) specializes in quality comfort women's and men's
footwear with a design focus on fitting features.  Phoenix
Footwear designs, develops, markets and sells footwear in a wide
range of sizes and widths under the brands Trotters(R),
SoftWalk(R), and H.S. Trask(R).  The brands are primarily sold
through department stores, leading specialty and independent
retail stores, mail order catalogues and internet retailers and
are carried by approximately 650 customers in more than 900 retail
locations throughout the U.S.  Phoenix Footwear has been engaged
in the manufacture or importation and sale of quality footwear
since 1882.


PHOENIX FOOTWEAR: Won't Meet First Community Covenant for May
-------------------------------------------------------------
Phoenix Footwear Group, Inc., warned in a regulatory filing with
the Securities and Exchange Commission that it does not expect it
will be in compliance with a covenant under an agreement with
First Community Financial as of the end of May 2010.  First
Community Financial is a division of Pacific Western Bank.

On December 4, 2009, Phoenix Footwear entered into an Accounts
Receivable and Inventory Security Agreement with First Community
Financial which established a two-year revolving credit facility.
Under the facility, Phoenix Footwear can borrow up to $4.5 million
(subject to a borrowing base which includes Eligible Accounts
Receivable and Eligible Inventory).  The credit facility includes
a number of covenants, including financial covenants.

As of the end of the first quarter of fiscal 2010, Phoenix
Footwear was in default of the financial covenant for past due
payables, which requires Phoenix Footwear to have no more than 50%
of the Company's trade payables greater than 60 days from their
invoice date.  As of the end of the first quarter of fiscal 2010,
less than 50% of Phoenix Footwear's trade payables were greater
than 60 days from due their dates; nevertheless, Phoenix Footwear
was in default of the covenant.  On May 6, 2010, Phoenix Footwear
obtained from First Community Financial a waiver of the defaulted
covenant through May 1, 2010.

On April 29, 2010, Phoenix Footwear Group and First Community
Financial entered into an Amendment to Accounts Receivable and
Inventory Security Agreement.  Under the Credit Facility, the
Company can borrow up to $4.5 million -- subject to a borrowing
base which includes Eligible Accounts Receivable and Eligible
Inventory.  The Eligible Inventory sublimit included in the
borrowing base was originally capped at $1.5 million and starting
January 15, 2010, was to be reduced on a monthly basis by $200,000
per month until such amount reached $300,000.  Under the
Amendment, the definition of Eligible Inventory in the Credit
Agreement was modified to hold the Eligible Inventory sublimit
included in the borrowing base constant at its current level of
$700,000 until December 3, 2010, at which time it will be reduced
by $40,000 per week until such amount reaches $500,000.

As of May 1, 2010, the Company had $2.6 million outstanding under
the Credit Facility with remaining availability of $343,000.

On April 29, 2010, the Company also entered into a Promissory Note
with First Community Financial pursuant to which the Company
borrowed $800,000 from First Community Financial under a term loan
facility, the proceeds of which will be used for the Company's
ongoing working capital needs.  In consideration for the term loan
facility, the Company paid First Community Financial a commitment
and funding fee of $16,000.

Borrowings under the term loan facility accrue interest at a rate
of 12.00% per annum.  Late payments are subject to additional
penalties and fees.  Interest on the unpaid balance shall be
payable on the 10th day of each month commencing May 10, 2010, and
continuing until the entire principal and interest under the note
has been paid in full.  Principal shall be payable in successive
weekly installments in accordance with this schedule:

     -- $20,000 commencing on July 9, 2010 and continuing on the
        Friday of each week thereafter until August 27, 2010;

     -- $48,000 commencing on September 3, 2010 and continuing on
        the Friday of each week thereafter until October 29, 2010;
        and

     -- $52,000 commencing on November 5, 2010 and continuing on
        the Friday of each week thereafter until November 26,
        2010.

The Promissory Note includes various customary obligations and
events of default with which the Company has to comply to avoid
penalties, including repayment defaults, defects in the security
interest of First Community Financial and breaches of any
representation, warranty or covenant under the Credit Facility.
The occurrence of an event of default could result in the
acceleration of all obligations of the Company to First Community
Financial with respect to indebtedness.  In addition, the term
loan facility is collateralized by all of the Company's personal
property and guaranteed in accordance with the Credit Facility.

In its quarterly report on Form 10-Q for the period ended April 3,
2010, the Company said the severe global recession has been
challenging during the past 18 months and has dramatically
affected its business as it is dependent on consumer demand for
its products.  "During this time, we have faced significant
working capital constraints as the result of the decline in our
sales, expenditures and obligations associated with our
restructuring and diminished borrowing capacity. These factors
together with our net losses and negative cash flows during the
past three fiscal years raise substantial doubt about our ability
to continue as a going concern," Phoenix Footwear said.

As reported by the Troubled Company Reporter, Mayer Hoffman McCann
P.C., in San Diego, California, in its March 30, 2010 report,
raised substantial doubt on the Company's ability to continue as a
going concern.  The auditor said the Company has suffered
recurring losses and negative cash flows from continuing
operations.

At April 3, 2010, the Company had total assets of $13.811 million
against total liabilities of $8.839 million, resulting in
stockholders' equity of $4.972 million.

                   About Phoenix Footwear Group

Based in Carlsbad, California, Phoenix Footwear Group, Inc. (NYSE
Amex: PXG) specializes in quality comfort women's and men's
footwear with a design focus on fitting features.  Phoenix
Footwear designs, develops, markets and sells footwear in a wide
range of sizes and widths under the brands Trotters(R),
SoftWalk(R), and H.S. Trask(R).  The brands are primarily sold
through department stores, leading specialty and independent
retail stores, mail order catalogues and internet retailers and
are carried by approximately 650 customers in more than 900 retail
locations throughout the U.S.  Phoenix Footwear has been engaged
in the manufacture or importation and sale of quality footwear
since 1882.


PHOENIX FOOTWEAR: Annual Stockholders' Meeting Set for June 3
-------------------------------------------------------------
The Annual Meeting of Stockholders of Phoenix Footwear Group, Inc.
will be held at Company headquarters, 5840 El Camino Real, Suite
106, in Carlsbad, California, on June 3, 2010, at 9:00 a.m., local
time.  The purposes of the meeting are:

     1. To elect six persons to the Board of Directors of Phoenix
        Footwear; and

     2. To transact such other business as may properly come
        before the meeting.

Stockholders of record as of the close of business on April 15,
2010, are entitled to notice of and to vote at the meeting and at
any adjournment thereof.

A full-text copy of the Company's proxy statement is available at
no charge at http://ResearchArchives.com/t/s?6236

In its quarterly report on Form 10-Q for the period ended April 3,
2010, the Company said the severe global recession has been
challenging during the past 18 months and has dramatically
affected its business as it is dependent on consumer demand for
its products.  "During this time, we have faced significant
working capital constraints as the result of the decline in our
sales, expenditures and obligations associated with our
restructuring and diminished borrowing capacity. These factors
together with our net losses and negative cash flows during the
past three fiscal years raise substantial doubt about our ability
to continue as a going concern," Phoenix Footwear said.

As reported by the Troubled Company Reporter, Mayer Hoffman McCann
P.C., in San Diego, California, in its March 30, 2010 report,
raised substantial doubt on the Company's ability to continue as a
going concern.  The auditor said the Company has suffered
recurring losses and negative cash flows from continuing
operations.

At April 3, 2010, the Company had total assets of $13.811 million
against total liabilities of $8.839 million, resulting in
stockholders' equity of $4.972 million.

                   About Phoenix Footwear Group

Based in Carlsbad, California, Phoenix Footwear Group, Inc. (NYSE
Amex: PXG) specializes in quality comfort women's and men's
footwear with a design focus on fitting features.  Phoenix
Footwear designs, develops, markets and sells footwear in a wide
range of sizes and widths under the brands Trotters(R),
SoftWalk(R), and H.S. Trask(R).  The brands are primarily sold
through department stores, leading specialty and independent
retail stores, mail order catalogues and internet retailers and
are carried by approximately 650 customers in more than 900 retail
locations throughout the U.S.  Phoenix Footwear has been engaged
in the manufacture or importation and sale of quality footwear
since 1882.


PLASSEIN INT'L: D. Del. Says LBO Fees Not Avoidable
---------------------------------------------------
WestLaw reports that evidence in the record that the challenged
fees were negotiated in good faith and at arm's length, together
with evidence, in connection with a $1 million acquisition fee
that a corporate Chapter 7 debtor paid prepetition to a company
that raised the $79.8 million in capital that the debtor needed to
complete its leveraged buyout of other companies, that payment
constituted less than 1.3% of capital raised, or that another
payment was within the range of usual and customary fees payable
in purchase and recapitalization transactions, supported the
bankruptcy court's finding that none of these challenged payments
were avoidable by the trustee, in the exercise of his strong-arm
powers, as constructively fraudulent to creditors under Delaware
law.  The bankruptcy court did not clearly err in finding that any
overlap between the services provided by the various professionals
was insignificant, and that the professionals largely performed
different duties with significant value.  In re Plassein Intern.
Corp., --- B.R. ----, 2010 WL 1737104 (D. Del.).

This decision comes after the U.S. Supreme Court declined the
Chapter 7 Trustee's invitation to review the Third Circuit's
decision that insulated the pre-LBO shareholders from liability,
reported about in the May 3, 2010, edition of the Troubled Company
Reporter.  Coverage of the Third Circuit's decision in In re
Plassein Intern. Corp., 590 F.3d 252 (3d Cir. 2009), appeared in
the Troubled
Company Reporter on Dec. 28, 2009.

Headquartered in Willington, Conn., specialty plastic film and
packaging company Plassein International Corp., sought chapter 11
protection (Bankr. D. Del. Case No. 03-11489) on May 14, 2003.
Adam G. Landis, Esq., at Klett Rooney Lieber & Schorling and
Daniel C. Cohn, Esq., at Cohn Khoury Madoff & Whitesell LLP
represent the Debtors.  When the Company filed for protection from
its creditors, it listed more than $50 million in assets and debts
of over $100 million.  On Oct. 24, 2003, the Court converted the
Debtors' cases to Chapter 7 liquidation proceedings.  William A.
Brandt, Jr., serves as the Chapter 7 Trustee.


POINT BLANK: Gets Final Approval for $20 Million Loan
-----------------------------------------------------
Bill Rochelle at Bloomberg News reports that Point Blank Solutions
Inc. obtained final approval this week for a $20 million credit to
finance its Chapter 11 filing.

Point Blank Solutions, Inc. --
http://www.pointblanksolutionsinc.com/-- designs and produces
body armor systems for the U.S. Military, Government and law
enforcement agencies, as well as select international markets.
The Company is recognized as the largest producer of soft body
armor in the U.S.  The Company maintains facilities in Pompano
Beach, FL and Jacksboro, TN.

Point Blank Solutions filed for Chapter 11 on April 14, 2010
(Bankr. D. Del. Case No. 10-11255).


PTS CARDINAL: Bank Debt Trades at 6% Off in Secondary Market
------------------------------------------------------------
Participations in a syndicated loan under which PTS Cardinal
Health is a borrower traded in the secondary market at 93.50
cents-on-the-dollar during the week ended Friday, May 14, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents a drop of 1.25
percentage points from the previous week, The Journal relates.
The Company pays 225 basis points above LIBOR to borrow under the
facility.  The bank loan matures on April 10, 2014, and carries
Moody's Ba3 rating and Standard & Poor's BB- rating.  The debt is
one of the biggest gainers and losers among 198 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

In April 2007, Cardinal Health completed the sale of its
Pharmaceutical Technologies and Services segment to The Blackstone
Group for approximately $3.3 billion.  PTS provides advanced
technologies and outsourced services for the pharmaceutical,
biotechnology and consumer health industry.  PTS develops,
manufactures and packages pharmaceutical and other products.


R & J NATIONAL: Case Summary & 10 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: R & J National Enterprises, Inc.
        1365 Park Lane South
        Jupiter, FL 33458

Bankruptcy Case No.: 10-22765

Chapter 11 Petition Date: May 10, 2010

Court: U.S. Bankruptcy Court
       Southern District of Florida (West Palm Beach)

Judge: Erik P. Kimball

Debtor's Counsel: Craig I. Kelley, Esq.
                  1665 Palm Beach Lakes Boulevard #1000
                  West Palm Beach, FL 33401
                  Tel: (561) 491-1200
                  E-mail: cik@kelleylawoffice.com

Estimated Assets: $0 to $50,000

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

According to the schedules, the Company says that assets total
$36,734 while debts total $8,702,544.

A copy of the Company's list of 10 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/flsb10-22765.pdf

The petition was signed by Ronald Weaver, president.

Debtor-affiliates filing separate Chapter 11 petitions:

        Entity                          Case No.     Petition Date
        ------                          --------     -------------
Avstar Fuel Systems, Inc.               10-22762          05/10/10
Camtech Precision Manufacturing, Inc.   10-22760          05/10/10


RADLAX GATEWAY: Has Until June 9 to Propose Reorganization Plan
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Illinois
extended RadLAX Gateway Hotel, LLC, and its debtor-affiliates'
exclusive periods to file and solicit acceptances of the proposed
Plan of Reorganization until June 9, 2010, and August 9, 2010,
respectively.

Oak Brook, Illinois-based RadLAX Gateway Hotel, LLC, operates a
hotel.  The Company and its affiliates filed for Chapter 11 on
Aug. 17, 2009 (Bankr. N.D. Ill. Case Nos. 09-30047 - 09-30032).
David M. Neff, Esq., at Perkins Coie LLP represents the Debtors in
their restructuring efforts.  In their petition, the Debtors
listed  $50,000,001 to $100,000,000 in assets and $100,000,001 to
$500,000,000 in debts.


RADLAX GATEWAY: Has Until June 9 to Use Airport Room Revenues
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Illinois,
in a sixth interim order, authorized RadLAX Gateway Hotel, LLC,
and its debtor-affiliates to:

   -- use until June 9, 2010, Radisson Hotel at Los Angeles
      Airport's rooms revenues and food and beverage revenues in
      which the lender has an interest; and

   -- grant adequate protection to the secured lender.

A further hearing in the Debtor's access to the cash collateral
will be held on June 9, 2010, at 11:00 a.m.  Objections, if any,
are due on June 4, 2010.

As reported in the Troubled Company Reporter on December 29, 2009,
as of the petition date, the Debtor and RadLAX Gateway Deck, LLC,
owed in excess of $120 million on account of the construction loan
from Amalgamated Bank, as trustee of the Longview Ultra I
Construction Loan Investment Fund, in its capacity as
administrative agent for itself and San Diego National Bank.

The Debtor would use the cash collateral to pay operating expenses
of the hotel.

As adequate protection to Amalgamated Bank, the Debtor said that
the continued operation and maintenance of the hotel will preserve
the value of the lender's collateral.  The Debtor is not providing
the lender with any additional liens.

The Debtors' use of cash collateral will expire on the earliest to
occur of: (a) June 9, 2010; or (b) the occurrence of a
termination event.

                    About RadLAX Gateway Hotel

Oak Brook, Illinois-based RadLAX Gateway Hotel, LLC, operates a
hotel.  The Company and its affiliates filed for Chapter 11 on
Aug. 17, 2009 (Bankr. N.D. Ill. Case Nos. 09-30047 - 09-30032).
David M. Neff, Esq., at Perkins Coie LLP represents the Debtors in
their restructuring efforts.  In their petition, the Debtors
listed  $50,000,001 to $100,000,000 in assets and $100,000,001 to
$500,000,000 in debts.


RAYMOND FARMER: Files List of 20 Largest Unsecured Creditors
------------------------------------------------------------
Raymond Farmer and Diane Farmer filed the U.S. Bankruptcy Court
for the Western District of North Carolina their list of largest
unsecured creditors, disclosing:

  Entity                                     Claim Amount
  ------                                     ------------
The Palmetto Bank                              $9,709,863
Special Assets
815 North Main Street
Anderson, SC 29621

The Palmetto Bank                              $6,117,777
Special Assets
815 North Main Street
Anderson, SC 29621

Keybank Real Estate Capital                    $5,317,000
911 Main Street, Suite 1500
Kansas City, MO 64105

Keybank Real Estate Capital                    $5,187,060
911 Main Street, Suite 1500
Kansas City, MO 64105

The Palmetto Bank                              $4,747,931
Special Assets
815 North Main Street
Anderson, SC 29621

Inland Mortgage Capital Corporation            $3,775,000
2901 Butterfield Road
Oak Brook, IL 60523

The Palmetto Bank                              $2,371,486
Special Assets
815 North Main Street
Anderson, SC 29621

First National Bank of the South               $1,950,000
Post Office Box 3508
Spartanburg, SC 29304

Harbour Finance Limited                        $1,763,312
Post Office Box 1569
Grand Cayman
KY1-1110
Cayman Islands

Harbour Finance Limited                         $1,467,638
Post Office Box 1569
Grand Cayman
KY1-1110
Cayman Islands

EMC Mortgage Corporation                          $678,413
Attn: Customer Service
Post Office 293150
Lewisville, TX 75209-3150

The Palmetto Bank                                 $573,281
Special Assets
815 North Main Street
Anderson, SC 29621

Wachovia Bank, N.A.                               $349,171
Customer Service
Group, NC1075
201 South College Street
Charlotte, NC 28244

Wachovia Bank, N.A.                               $331,300
Customer Service Group, NC1075
201 South College Street
Charlotte, NC 28244

GTV Investors, LLC                                $300,000
812 East Main Street
Spartanburg, SC 29302

Jim Miller                                        $200,000
1010 East North Street, Suite A
Greenville, SC 29601

Carolina First                                    $154,543
104 South Main Street
Poinsett Plaza, 10th Floor
Greenville, SC 29601

Rich Rollar                                       $130,000
1230 Gulf Blvd., Unit 1607
Clearwater Beach, FL 33767

Specialized Loan                                  $100,322
Servicing, LLC
Post Office Box 636005
Littleton, CO 80163-6005

Willis and Mary Lange                             $100,000
215 Yelton Street
Spindale, NC 28160

Raymond Farmer and Diane Farmer filed for Chapter 11 on April 5,
2010 (Bankr. W.D. N.C. Case No. 10-40269).  Travis W. Moon, Esq.,
at Hamilton Moon Stephens Steele Martin, assists the Debtors in
their restructuring effort.  In their petition, the Debtors listed
assets of $10,000,001 to $50,000,000 and debts of $50,000,001 to
$100,000,000.


RAYMOND GALLOWAY: Voluntary Chapter 11 Case Summary
---------------------------------------------------
Joint Debtors: Raymond L. Galloway
               Marsha G. Galloway
               5607 Calvert Drive
               Frederick, MD 21703

Bankruptcy Case No.: 10-20456

Chapter 11 Petition Date: May 10, 2010

Court: U.S. Bankruptcy Court
       District of Maryland (Greenbelt)

Debtor's Counsel: Michael Steven Fried, Esq.
                  Air Rights Building
                  4550 Montgomery Avenue, Suite 710 North
                  Bethesda, MD 20814
                  Tel: (301) 656-8525
                  Fax: (301) 656-8528
                  E-mail: mfried@friedlaw.com

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

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

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

The petition was signed by the Joint Debtors.


REALOGY CORP: Bank Debt Trades at 13% Off in Secondary Market
-------------------------------------------------------------
Participations in a syndicated loan under which Realogy Corp. is a
borrower traded in the secondary market at 87.11 cents-on-the-
dollar during the week ended Friday, May 14, 2010, according to
data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents a drop of 3.31 percentage points
from the previous week, The Journal relates.  The Company pays 300
basis points above LIBOR to borrow under the facility.  The bank
loan matures on Sept. 30, 2013, and carries Moody's Caa1 rating
and Standard & Poor's CCC- rating.  The debt is one of the biggest
gainers and losers among 198 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended Friday.

Realogy Corp. -- http://www.realogy.com/-- a global provider of
real estate and relocation services with a diversified business
model that includes real estate franchising, brokerage, relocation
and title services.  Realogy's world-renowned brands and business
units include Better Homes and Gardens Real Estate, CENTURY 21,
Coldwell Banker, Coldwell Banker Commercial, The Corcoran Group,
ERA, Sotheby's International Realty, NRT LLC, Cartus and Title
Resource Group.  Collectively, Realogy's franchise systems have
approximately 15,000 offices and 270,000 sales associates doing
business in 92 countries around the world.

Headquartered in Parsippany, N.J., Realogy is owned by affiliates
of Apollo Management, L.P., a leading private equity and capital
markets investor.  Realogy fully supports the principles of the
Fair Housing Act.


ROPER BROTHERS: Has Until August 13 to File Reorganization Plan
---------------------------------------------------------------
The Hon. Kevin Huennekens of the U.S. Bankruptcy Court for the
Eastern District of Virginia extended Roper Brothers Lumber
Company, Incorporated, et al.'s exclusive periods to to file and
solicit acceptances for the proposed Plan of Reorganization until
August 13, 2010, and October 12, 2010, respectively.

Petersburg, Virginia-based Roper Brothers Lumber Company,
Incorporated, filed for Chapter 11 bankruptcy protection on
December 16, 2009 (Bankr. E.D. Va. Case No. 09-38215).
Elizabeth L. Gunn, Esq.; John C. Smith, Esq.; and Roy M. Terry,
Jr., Esq., at DurretteBradshaw, PLC, assist the Company in its
restructuring effort.  The Company listed $13,752,899 in total
assets and $16,658,187 in total debts.


ROPER BROTHERS: Can Access Unsecured Debt from AMR and Liberty
--------------------------------------------------------------
The Hon. Kevin Huennekens of the U.S. Bankruptcy Court for the
Eastern District of Virginia authorized Roper Brothers Lumber
Company, Incorporated, et al., to incur unsecured debt with
American Furniture Rentals, Inc. and Liberty Property Limited
Partnership for the lease of furniture and office space,
respectively.

The Debtors are also authorized to enter into:

   -- the Office Lease with Liberty; and

   -- the furniture lease with AMR.

The Debtors will grant:

   i) Liberty administrative claim for all amounts due and
      owing pursuant to the office lease; and

  ii) AMR administrative claim(b for all amounts due and
      owing pursuant to the furniture lease.

Petersburg, Virginia-based Roper Brothers Lumber Company,
Incorporated, filed for Chapter 11 bankruptcy protection on
December 16, 2009 (Bankr. E.D. Va. Case No. 09-38215).
Elizabeth L. Gunn, Esq.; John C. Smith, Esq.; and Roy M. Terry,
Jr., Esq., at DurretteBradshaw, PLC, assist the Company in its
restructuring effort.  The Company listed $13,752,899 in total
assets and $16,658,187 in total debts.


RUBICON US: Noteholders Amend Plan of Reorganization
----------------------------------------------------
The noteholders of Rubicon US REIT Inc. filed with the U.S.
Bankruptcy Court for the District of Delaware amended Disclosure
Statement explaining their proposed Plan of Reorganization for the
Debtor.

As reported in the Troubled Company Reporter on March 31, 2010,
Michael Bathon at Bloomberg News reported that the noteholders,
including units of JPMorgan Chase & Co., Kaufman Jacobs LLC and
Starwood Capital Group Global LLC, persuaded U.S. Bankruptcy Judge
Brendan Linehan Shannon on March 9 to let them offer a
restructuring plan for Rubicon.  The noteholders, owed about
$81.1 million, claimed the company was pursuing a sale that would
hurt creditors, because they could get more value if they keep the
properties and sell them over time.

According to the Disclosure Statement, the Plan provides for the
reorganization of each of the Debtors and the treatment of each
holder of a claim against or equity interests in the Debtors.  The
treatment includes cure and reinstatement of secured claims;
payment in full of all Mechanics' Lien Claims and general
unsecured claims on the effective date; distribution to each of
the Rubicon Noteholders (or their respective designees) of a Pro
rata share of (i) the New Rubicon Common Stock and (ii) the New
Rubicon Notes (or other shares of the New Rubicon Common Stock and
New Rubicon Notes as the Rubicon Noteholders may agree);
preservation and reinstatement of Series A Preferred Equity
Interests; distribution of cash on account of the Series B
Preferred Equity Interests in the event the class accepts the
Plan; cancellation of all existing Rubicon Common EquityInterests;
and preservation and reinstatement of other equity interests.

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

                       About Rubicon US REIT

Rubicon US REIT Inc. is a Chicago-based real estate investment
trust.  Rubicon filed for Chapter 11 bankruptcy protection on
January 20, 2010 (Bankr. D. Del. Case No. 10-10160).  Attorneys at
Phillips, Goldman & Spence, have been tapped as bankruptcy
counsel.  Phillips, Goldman & Spence, P.A. is Delaware bankruptcy
counsel Grant Thornton LLP is the Company's financial advisor.
Garden City Group is the claims and notice agent.  In its
petition, the Company listed $100,000,001 to $500,000,000 in
assets and $100,000,001 to $500,000,000 in liabilities.  The
Company's affiliates -- Rubicon GSA II, LLC, et al. -- also filed
Chapter 11 petitions.


SARATOGA RESOURCES: Emerges From Bankruptcy
-------------------------------------------
Saratoga Resources, Inc. filed with the U.S. Bankruptcy Court a
notice of satisfaction of the conditions of effectiveness of its
Modified Third Amended Plan of Reorganization, whereupon the
Company, and its subsidiaries, emerged from chapter 11 bankruptcy
protection.

In conjunction with the Company's exit from bankruptcy, the
Company entered into amendments extending and modifying certain
terms of its principal credit facilities. Under the terms of the
Company's plan of reorganization, among other provisions, all
creditors of the Company and its debtor subsidiaries holding
allowed claims will be paid in full and all equity holders will
retain their existing shares.  The detailed terms of the Modified
Third Amended Plan of Reorganization have been previously
disclosed and are described more fully in the Company's reports
filed with the Securities and Exchange Commission.

Thomas F. Cooke, CEO and Chairman said, "We are very pleased to
have emerged from bankruptcy with our assets intact, our
shareholders' position substantially unchanged and our debt
obligations restructured to reduce the interest burden on our
company.  During the course of the bankruptcy, in spite of
difficult circumstances, our team has managed to grow our reserves
and production levels while bringing down our operating expenses.
For their efforts, I want to thank each of our team members.  With
our emergence from bankruptcy, increased production, improved
profitability, identification of previously unevaluated drilling
prospects and a significant reduction in our monthly interest
expense, we believe Saratoga is well positioned to resume its
drilling and development program and to realize the full value of
its holdings."

Saratoga's President, Andy C. Clifford, added, "With the
distractions of the past year behind us, Saratoga can now focus on
its operations and reaching its growth targets.  We are exiting
Chapter 11 with a good cash cushion that will be supplemented
monthly from existing production and reduced interest payments.
Our ongoing goal of reducing operating costs has been greatly
assisted with our recent insurance renewal with an 8% decrease in
annual premium thanks to the great work of our insurance brokers,
McGriff, Seibels & Williams.  I also want to extend my gratitude
to each of our team members as well as our attorneys, Adams and
Reese, LLP and Slattery, Marino & Roberts, and financial advisors,
Grant Thornton LLP."

                    About Saratoga Resources

Saratoga Resources Inc. (OTCBB: SROEQ) is an independent
exploration and production company with offices in Houston and
Covington.  Saratoga engages in the acquisition and development of
oil and gas producing properties that allow the Company to grow
through low-risk development and risk-managed exploration.
Saratoga operates 14 fields in Louisiana and Texas with 106 active
producing wells.  Current net production is roughly 3,000
barrels of oil equivalent per day -- BOEPD -- with 70% oil versus
gas.  Principal holdings cover 37,756 gross (34,246 net) acres,
mostly held-by-production, located in the state waters offshore
Louisiana.

Saratoga Resources, Inc., and certain operating subsidiaries filed
on March 31, 2009, voluntary Chapter 11 petitions in the U.S.
Bankruptcy Court for the Western District of Louisiana in
Lafayette, Louisiana.  Saratoga is being advised by its legal
counsel, Adams & Reese LLP; its investment banker, Pritchard
Capital Partners LLC; and its financial advisor, Ambrose
Consulting LLC.

The case is In Re Harvest Oil and Gas, LLC (Bankr. W.D. La. Lead
Case No. 09-50397).  Robin B. Cheatham, Esq., at Adams & Reese
LLP, represents the Debtors in their restructuring effort.  The
Debtors listed between $100 million and $500 million each in
assets and debts.


SATILLA COMMUNITY BANK: Closed; Ameris Bank Assumes All Deposits
----------------------------------------------------------------
Satilla Community Bank of Saint Marys, Ga., was closed on May 14,
2010, by the Georgia Department of Banking and Finance, which
appointed the Federal Deposit Insurance Corporation as receiver.
To protect the depositors, the FDIC entered into a purchase and
assumption agreement with Ameris Bank of Moultrie, Ga., to assume
all of the deposits of Satilla Community Bank.

The sole branch of Satilla Community Bank will reopen during
normal business hours as a branch of Ameris Bank.  Depositors of
Satilla Community Bank will automatically become depositors of
Ameris Bank.  Deposits will continue to be insured by the FDIC, so
there is no need for customers to change their banking
relationship to retain their deposit insurance coverage.
Customers should continue to use their existing branch until they
receive notice from Ameris Bank that it has completed systems
changes to allow other Ameris Bank branches to process their
accounts as well.

As of March 31, 2010, Satilla Community Bank had around $135.7
million in total assets and $134.0 million in total deposits.
Ameris Bank will pay the FDIC a premium of 0.19 percent to assume
all of the deposits of Satilla Community Bank.  In addition to
assuming all of the deposits of the failed bank, Ameris Bank
agreed to purchase essentially all of the assets.

The FDIC and Ameris Bank entered into a loss-share transaction on
$101.0 million of Satilla Community Bank's assets.  Ameris Bank
will share in the losses on the asset pools covered under the
loss-share agreement.  The loss-share transaction is projected to
maximize returns on the assets covered by keeping them in the
private sector.  The transaction also is expected to minimize
disruptions for loan customers.  For more information on loss
share, please visit:

http://www.fdic.gov/bank/individual/failed/lossshare/index.html

Customers who have questions about the transaction can call the
FDIC toll-free at 1- 800-895-0586.  Interested parties also can
visit the FDIC's Web site at

http://www.fdic.gov/bank/individual/failed/satillacmntyga.html

The FDIC estimates that the cost to the Deposit Insurance Fund
will be $31.3 million.  Ameris Bank's acquisition of all the
deposits was the "least costly" resolution for the FDIC's DIF
compared to all alternatives.  Satilla Community Bank is the 69th
FDIC-insured institution to fail in the nation this year, and the
eighth in Georgia.  The last FDIC-insured institution closed in
the state was Unity National Bank, Cartersville, on March 26,
2010.


SERGEY ZHURAVLEV: Voluntary Chapter 11 Case Summary
---------------------------------------------------
Debtor: Sergey Zhuravlev
        1057 El Solyo Avenue
        Santa Clara, CA 95008

Bankruptcy Case No.: 10-54830

Chapter 11 Petition Date: May 10, 2010

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

Judge: Arthur S. Weissbrodt

Debtor's Counsel: Oxana Kozlov, Esq.
                  IBCI Law Group
                  649 Dunholme Way
                  Sunnyvale, CA 94087
                  Tel: (650)814-7708
                  E-mail: okozlov@gmail.com

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

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

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

The petition was signed by the Debtor.


SETA MAMMOLA: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: Seta Rose Mammola
          aka As Trustee
        34 Mammola Way
        Medford, MA 02155

Bankruptcy Case No.: 10-15078

Chapter 11 Petition Date: May 10, 2010

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

Judge: Joan N. Feeney

Debtor's Counsel: Seta Rose Mammola, Esq.
                  34 Mammola Way
                  Medford, MA 02155

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

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

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

The petition was signed by the Debtor.


SHOREBANK CORP: Wall Street Banks Help to Avoid FDIC Takeover
-------------------------------------------------------------
Elizabeth Williamson at The Wall Street Journal reports that
negotiators from several big Wall Street banks worked through the
weekend to rescue Chicago-based ShoreBank Corp. from closure by
the Federal Deposit Insurance Corp.

"A lot of institutions are stepping up and pledging their
support," ShoreBank spokesman Brian Berg said Sunday, the Journal
relates.  According to the Journal, a person with knowledge of the
talks' progress said Sunday that the bank was close to hitting its
private-capital target of $125 million.

The Journal further relates that ShoreBank's supporters hope that
investors, including Goldman Sachs Group Inc., Citigroup Inc.,
J.P. Morgan Chase & Co., Bank of America Corp. and Morgan Stanley,
will agree to put in the $125 million that could allow ShoreBank
to tap an additional $75 million in government capital through
Treasury's Troubled Asset Relief Program.  But the Treasury help
is by no means certain, and if the bank is closed its private
investors will likely lose their money, the Journal adds.

The Journal's John D. McKinnon and Ms. Williamson, citing people
familiar with the situation, reported last week that Goldman Sachs
CEO Lloyd Blankfein was in talks for a possible investment in
ShoreBank with FDIC Chairman Sheila Bair.  The Journal's sources
said Mr. Blankfein has also telephoned other bank executives as
ShoreBank tries to raise the $125 million it needs to forestall a
possible takeover by the FDIC.

The Journal said Thursday regulators have told the bank it must
have investor commitments by Friday.  As of Thursday evening, the
Journal reported, people familiar with the fund-raising effort
said it appeared to be close to its goal.  They warned late
Thursday that the effort could still unravel, the Journal said.

Sources told the Journal Goldman agreed to commit about $20
million to the bank, making it one of the largest investors.


SOUTHWEST COMMUNITY BANK: Closed; Simmons Assumes All Deposits
--------------------------------------------------------------
Southwest Community Bank of Springfield, Mo., was closed on May
14, 2010, by the Missouri Division of Finance, which appointed the
Federal Deposit Insurance Corporation as receiver.  To protect the
depositors, the FDIC entered into a purchase and assumption
agreement with Simmons First National Bank of Pine Bluff, Ark., to
assume all of the deposits of Southwest Community Bank.

The sole branch of Southwest Community Bank will reopen during
normal business hours as a branch of Simmons First National Bank.
Depositors of Southwest Community Bank will automatically become
depositors of Simmons First National Bank.  Deposits will continue
to be insured by the FDIC, so there is no need for customers to
change their banking relationship to retain their deposit
insurance coverage.  Customers should continue to use their
existing branch until they receive notice from Simmons First
National Bank that it has completed systems changes to allow other
Simmons First National Bank branches to process their accounts as
well.

As of March 31, 2010, Southwest Community Bank had around $96.6
million in total assets and $102.5 million in total deposits.
Simmons First National Bank will pay the FDIC a premium of 0.50
percent to assume all of the deposits of Southwest Community Bank.
In addition to assuming all of the deposits of the failed bank,
Simmons First National Bank agreed to purchase essentially all of
the assets.

The FDIC and Simmons First National Bank entered into a loss-share
transaction on       $66.8 million of Southwest Community Bank's
assets.  Simmons First National Bank will share in the losses on
the asset pools covered under the loss-share agreement.  The loss-
share transaction is projected to maximize returns on the assets
covered by keeping them in the private sector.  The transaction
also is expected to minimize disruptions for loan customers.  For
more information on loss share, please visit:

http://www.fdic.gov/bank/individual/failed/lossshare/index.html

Customers who have questions about the transaction can call the
FDIC toll-free at 1-800-895-0643.  Interested parties also can
visit the FDIC's Web site at

http://www.fdic.gov/bank/individual/failed/swcmntymo.html

The FDIC estimates that the cost to the Deposit Insurance Fund
will be $29.0 million.  Simmons First National Bank's acquisition
of all the deposits was the "least costly" resolution for the
FDIC's DIF compared to all alternatives.  Southwest Community Bank
is the 71st FDIC-insured institution to fail in the nation this
year, and the fourth in Missouri.  The last FDIC-insured
institution closed in the state was Champion Bank, Creve Coeur, on
April 30, 2010.


SPENCER GROUP: Case Summary & 4 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Spencer Group Holdings, LLC
        c/o Samuel A. Schwartz, Esq.
        701 E. Bridger Avernue, Ste. 120
        Las Vegas, NV 89101

Bankruptcy Case No.: 10-18551

Chapter 11 Petition Date: May 10, 2010

Court: United States Bankruptcy Court
       District of Nevada (Las Vegas)

Judge: Bruce A. Markell

Debtor's Counsel: Samuel A. Schwartz, Esq.
                  701 E. Bridger Avenue
                  Suite 120
                  Las Vegas, NV 89101
                  Tel: (702) 385-5544
                  Fax: (702) 385-2741
                  E-mail: sam@schwartzlawyers.com

Scheduled Assets: $1,592,374

Scheduled Debts: $3,966,424

A list of the Company's 4 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/nvb10-18551.pdf

The petition was signed by Gerry Olma, Avondale Nevada, Inc.'s
President.


STUDIO FRAMES: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Studio Frames Ltd.
        dba Somerhill Gallery
        303 S. Roxboro St.
        Durham, NC 27701

Bankruptcy Case No.: 10-80827

Chapter 11 Petition Date: May 10, 2010

Court: United States Bankruptcy Court
       Middle District of North Carolina (Durham)

Debtor's Counsel: Richard M. Hutson, II, Esq.
                  302 East Pettigrew St., Suite B-260
                  P.O. Drawer 2252-A
                  Durham, NC 27702
                  Tel: (919) 683-1561
                  E-mail: wade@hhplaw.com

Estimated Assets: $0 to $50,000

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

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/ncmb10-80827.pdf

The petition was signed by Joseph D. Rowand, president.


SUPERVALU INC: Bank Debt Trades at 3% Off in Secondary Market
-------------------------------------------------------------
Participations in a syndicated loan under which SUPERVALU, Inc.,
is a borrower traded in the secondary market at 96.55 cents-on-
the-dollar during the week ended Friday, May 14, 2010, according
to data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents a drop of 1.37 percentage points
from the previous week, The Journal relates.  The Company pays 125
basis points above LIBOR to borrow under the facility, which
matures on June 2, 2012.  The debt is not rated by Moody's and
Standard & Poor's.  The debt is one of the biggest gainers and
losers among 198 widely quoted syndicated loans with five or more
bids in secondary trading for the week ended Friday.

SUPERVALU, Inc. (NYSE:SVU), -- http://www.supervalu.com/-- is a
grocery channel that conducts its retail operations under the
banners, such as Acme Markets, Albertsons, Bristol Farms, bigg's,
Cub Foods, Farm Fresh, Hornbacher's, Jewel-Osco, Lucky, Save-A-
Lot, Shaw's Supermarkets, Shop 'n Save, Shoppers Food & Pharmacy
and Star Markets.  Additionally, the Company provides supply chain
services, primarily wholesale distribution, across the United
States retail grocery channel.  The Company operates in two
segments: Retail food and Supply chain services.  During the
fiscal year ended February 28, 2009 (fiscal 2009), the Company
added 44 new stores through new store development and closed 97
stores.  The Company leverages its distribution operations by
providing wholesale distribution and logistics and service
solutions to its independent retail customers through its Supply
chain services segment.


TARRAGON CORP: Has June 18 Plan Confirmation Hearing
----------------------------------------------------
Bill Rochelle at Bloomberg News reports that the U.S. Bankruptcy
Court in New Jersey is scheduled to hold a June 18 hearing to
confirm a Chapter 11 plan for Tarragon Corp.  Tarragon received
approval of the explanatory disclosure statement last week.  The
sponsor for the plan is UTA Capital LLC, an investor based in West
Orange, New Jersey.

                       About Tarragon Corp.

Based in New York City, Tarragon Corporation (NasdaqGS:TARR) --
http://www.tarragoncorp.com/-- is a leading developer of
multifamily housing for rent and for sale.  Tarragon's operations
are concentrated in the Northeast, Florida, Texas, and Tennessee.
Tarragon and its affiliates filed for Chapter 11 protection on
January 12, 2009 (Bankr. D. N.J. Case No. 09-10555).  The Hon.
Donald H. Steckroth presides over the case.

Michael D. Sirota, Esq., Warren A. Usatine, Esq., and Felice R.
Yudkin, Esq., at Cole Schotz Meisel Forman & Leonard, P.A.
represent the Debtor as bankruptcy counsel.


TENET HEALTHCARE: Registers 21.3MM Shares Under 2008 Stock Plan
---------------------------------------------------------------
Tenet Healthcare Corporation filed a Form S-8 Registration
Statement under the Securities Act of 1933 to register 21,300,000
additional shares of common stock issuable under the 2008 Stock
Incentive Plan, as Amended And Restated.  The Proposed Maximum
Aggregate Offering Price is $116,298,000.

Tenet said Gary Ruff, Senior Vice President and General Counsel of
the Company, has delivered an opinion to the effect that the
shares of common stock covered by the Registration Statement will
be legally issued, fully paid and non-assessable.

As of May 12, 2010, Mr. Ruff owned 40,909 shares of our common
stock.  On such date, Mr. Ruff also had outstanding options to
purchase 518,743 shares of our common stock and 78,694 restricted
units, payable at vesting in shares of our common stock, pursuant
to the Plan and our 2001 Stock Incentive Plan.  Mr. Ruff is
eligible to participate in the Plan.

                     About Tenet Healthcare

Based in Dallas, Texas, Tenet Healthcare Corporation --
http://www.tenethealth.com/-- is an investor-owned health care
services company whose subsidiaries and affiliates principally
operate general hospitals and related health care facilities.  All
of Tenet's operations are conducted through its subsidiaries.

The Company's balance sheet for March 31, 2010, showed
$7.8 billion in total assets and $7.0 billion in total
liabilities, for a $791.0 million total stockholder's equity.

                          *     *     *

Troubled Company Reporter said on March 17, 2010, Fitch Ratings
has affirmed Tenet Healthcare Corp.'s ratings: Issuer Default
Rating at 'B-'; Secured bank facility at 'BB-/RR1'; Senior secured
notes at 'BB-/RR1'.

Fitch has also upgraded Tenet's senior unsecured notes to 'B/RR3'
from 'B-/RR4'.  The upgrade is due to improved recovery prospects
for note holders on the basis of a stronger post-restructuring
EBITDA estimate.

As reported by the Troubled Company Reporter on October 1, 2009,
Standard & Poor's Ratings Services assigned its 'CCC' issue-level
rating to hospital operator Tenet Healthcare's $345 million
mandatory convertible preferreds.  Net proceeds were used to
repurchase $300 million worth of outstanding 9.25% senior notes
due 2015.  The mandatory convertible preferred stock will
automatically convert to Tenet common stock on Oct. 1 2012.
Standard & Poor's views the mandatory convertible preferred
issuance as 100% debt for ratings purposes.

S&P's corporate credit rating on Tenet is 'B', reflecting the
company's struggles over the past several years with weak
operating performance and operating cash outflow and highly
leveraged financial position.  Despite the successes to date of a
multiyear turnaround effort, these factors remain key elements of
the company's highly-leveraged financial risk profile and
vulnerable business risk profile.  Tenet's extensive efforts to
effectuate a turnaround over several years has included large-
scale management and governance changes, cost control initiatives,
revamped physician recruitment and relationship strategies, and
managed care contract renegotiations to improve pricing.  Tenet's
improving financial results and better patient admissions over the
past two years indicate some measure of success of its efforts.
Still, a consistent track record of positive free cash flow
generation is not likely in the near term.

The TCR said September 29, 2009, that Moody's Investors Service
changed the rating outlook of Tenet Healthcare to positive from
stable.  Concurrently, Moody's affirmed Tenet's B3 Corporate
Family and Probability of Default ratings.


TENET HEALTHCARE: Registers 4MM Shares Under 1995 Stock Plan
------------------------------------------------------------
Tenet Healthcare Corporation filed a Registration Statement on
Form S-8 to register 4,000,000 additional shares of common stock,
par value $0.05 per share, which may be issued under the terms of
the Company's Ninth Amended and Restated 1995 Employee Stock
Purchase Plan, which was approved by shareholders on May 5, 2010.

Tenet also disclosed that Gary Ruff, Senior Vice President and
General Counsel of the Company, has delivered an opinion to the
effect that the shares of Common Stock covered by the Registration
Statement will be legally issued, fully paid and non-assessable.

As of May 12, 2010, Mr. Ruff owned 40,909 shares of our common
stock. On such date, Mr. Ruff also had outstanding options to
purchase 518,743 shares of the common stock and 78,694 restricted
units, payable at vesting in shares of the common stock, pursuant
to the 2001 Stock Incentive Plan and the 2008 Stock Incentive
Plan. Mr. Ruff is eligible to participate in the Plan.

                     About Tenet Healthcare

Based in Dallas, Texas, Tenet Healthcare Corporation --
http://www.tenethealth.com/-- is an investor-owned health care
services company whose subsidiaries and affiliates principally
operate general hospitals and related health care facilities.  All
of Tenet's operations are conducted through its subsidiaries.

The Company's balance sheet for March 31, 2010, showed
$7.8 billion in total assets and $7.0 billion in total
liabilities, for a $791.0 million total stockholder's equity.

                          *     *     *

Troubled Company Reporter said on March 17, 2010, Fitch Ratings
has affirmed Tenet Healthcare Corp.'s ratings: Issuer Default
Rating at 'B-'; Secured bank facility at 'BB-/RR1'; Senior secured
notes at 'BB-/RR1'.

Fitch has also upgraded Tenet's senior unsecured notes to 'B/RR3'
from 'B-/RR4'.  The upgrade is due to improved recovery prospects
for note holders on the basis of a stronger post-restructuring
EBITDA estimate.

As reported by the Troubled Company Reporter on October 1, 2009,
Standard & Poor's Ratings Services assigned its 'CCC' issue-level
rating to hospital operator Tenet Healthcare's $345 million
mandatory convertible preferreds.  Net proceeds were used to
repurchase $300 million worth of outstanding 9.25% senior notes
due 2015.  The mandatory convertible preferred stock will
automatically convert to Tenet common stock on Oct. 1 2012.
Standard & Poor's views the mandatory convertible preferred
issuance as 100% debt for ratings purposes.

S&P's corporate credit rating on Tenet is 'B', reflecting the
company's struggles over the past several years with weak
operating performance and operating cash outflow and highly
leveraged financial position.  Despite the successes to date of a
multiyear turnaround effort, these factors remain key elements of
the company's highly-leveraged financial risk profile and
vulnerable business risk profile.  Tenet's extensive efforts to
effectuate a turnaround over several years has included large-
scale management and governance changes, cost control initiatives,
revamped physician recruitment and relationship strategies, and
managed care contract renegotiations to improve pricing.  Tenet's
improving financial results and better patient admissions over the
past two years indicate some measure of success of its efforts.
Still, a consistent track record of positive free cash flow
generation is not likely in the near term.

The TCR said September 29, 2009, that Moody's Investors Service
changed the rating outlook of Tenet Healthcare to positive from
stable.  Concurrently, Moody's affirmed Tenet's B3 Corporate
Family and Probability of Default ratings.


TEXAS GRAND PRAIRIE: Files for Chapter 11 in Forth Worth, Texas
---------------------------------------------------------------
Texas Grand Prairie Hotel Realty LLC and three affiliates filed
for Chapter 11 on May 13 in Fort Worth, Texas (Bankr. N.D. Tex.
Case No. 10-43242).

According to Bloomberg News, the Debtors own four Hyatt Place
hotels in Texas.  Each said the assets are worth less than
$10 million while debt exceeds $10 million.  The hotels have a
combined 513 rooms and were remodeled in 2007.

Bloomberg relates that the mortgages on the hotels matured, and
the lender began foreclosure proceedings and a lawsuit to seize
the properties' income.  The hotels are subject to a mortgage in
the original principal amount of $49 million, dating from April
2007.

The properties are known as Hyatt Place San Antonio Airport/North
Star Mall; Hyatt Place Houston/Greenpoint/IAH Airport; Hyatt Place
Austin/Arboretum; and Hyatt Place Dallas/North Arlington/Grand
Prairie.


TRIBUNE CO: Bank Debt Trades at 36% Off in Secondary Market
-----------------------------------------------------------
Participations in a syndicated loan under which Tribune Co. is a
borrower traded in the secondary market at 64.04 cents-on-the-
dollar during the week ended Friday, May 14, 2010, according to
data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents a drop of 2.46 percentage points
from the previous week, The Journal relates.  The Company pays 300
basis points above LIBOR to borrow under the facility, which
matures on May 17, 2014.  Moody's has withdrawn its rating while
Standard & Poor's does not rate the bank debt.  The debt is one of
the biggest gainers and losers among 198 widely quoted syndicated
loans with five or more bids in secondary trading for the week
ended Friday.

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)


UNITED AIR LINES: Bank Debt Trades at 9% Off in Secondary Market
----------------------------------------------------------------
Participations in a syndicated loan under which United Air Lines,
inc., is a borrower traded in the secondary market at 90.54 cents-
on-the-dollar during the week ended Friday, May 14, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents a drop of 2.21
percentage points from the previous week, The Journal relates.
The Company pays 200 basis points above LIBOR to borrow under the
facility.  The bank loan matures on Feb. 13, 2013, and carries
Moody's B3 rating and Standard & Poor's B+ rating.  The debt is
one of the biggest gainers and losers among 198 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

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 before the Committee was
dissolved when the Debtors emerged from bankruptcy.

Judge Eugene R. Wedoff confirmed the Debtors' Second Amended Plan
on Jan. 20, 2006.  The company emerged from bankruptcy protection
on Feb. 1, 2006.  (United Airlines Bankruptcy News; Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or
215/945-7000)


US CONCRETE: Terms of Prepackaged Plan of Reorganization
--------------------------------------------------------
U.S. Concrete, Inc., et al., have filed a Joint Prepackaged Plan
of Reorganization and disclosure statement with the U.S.
Bankruptcy Court for the District of Delaware.

The Debtors will seek approval of their prepackaged Chapter 11
plan of reorganization from the Court at a confirmation hearing on
July 14, 2010.

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

           http://bankrupt.com/misc/US_CONCRETE_plan.pdf
           http://bankrupt.com/misc/US_CONCRETE_ds.pdf
           http://bankrupt.com/misc/US_CONCRETE_ds2.pdf

                         Treatment of Claims

Under the Plan, the administrative claims will be paid in cash in
full.

DIP Facility Claims will convert into the Exit Facility or be paid
off in full and in Cash.

With respect to classified claims:
   Classification                              Treatment
   --------------                             ---------
Class 1 Other Priority Claims             Unimpaired; full payment
                                          in cash

Class 2 Other Secured Claims              Unimpaired; to be
                                          reinstated

Class 3 General Unsecured Claims          Unimpaired; full payment
                                          in cash

Class 4 Note Claims                       Impaired; receive its
                                          Pro Rata share of 100%
                                          of the New Equity issued
                                          on the Effective Date

Class 5 Intercompany Claims               Unimpaired; may be
                                          reinstated or cancelled;
                                          no distribution to be
                                          made on account of the
                                          claims

Class 6 Intercompany Interests            Unimpaired; may be
                                          reinstated or cancelled;
                                          no distribution to be
                                          made on account of the
                                          claims

Class 7 Interests in U.S. Concrete, Inc.  Impaired; to receive Pro
                                          Rata Share of the New
                                          Warrants

Class 8 Section 5 lO(b) Claims            Impaired; to be
                                          cancelled  without any
                                          distribution

                       About U.S. Concrete

Houston, Tex.-based U.S. Concrete, Inc., aka RMX Industries, Inc.,
is a major producer of ready-mixed concrete, precast concrete
products and concrete-related products in select markets in the
United States.

The Company filed for Chapter 11 bankruptcy protection on
April 29, 2010 (Bankr. D. Del. Case No. 10-11407).  Patrick J.
Nash Jr., Esq., and Ross M. Kwasteniet, Esq., at Kirkland & Ellis
LLP, assist the Company in its restructuring effort as bankruptcy
counsel.

James E. O'Neill, Esq., Laura Davis Jones, Esq., and Mark M.
Billion, Esq., at Pachulski Stang Ziehl & Jones LLP, is the
Company's co-counsel.

Epiq Bankruptcy Solutions is the Company's claims agent.

According to the schedules, the Company says that assets total
$389,160,000 while debts total $399,351,000.

The Debtor's affiliates, Alberta Investments, Inc., et al., filed
separate Chapter 11 petitions on April 29, 2010.


US FOODSERVICE: Bank Debt Trades at 11% Off in Secondary Market
---------------------------------------------------------------
Participations in a syndicated loan under which U.S. Foodservice,
Inc., is a borrower traded in the secondary market at 88.77 cents-
on-the-dollar during the week ended Friday, May 14, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents a drop of 1.51
percentage points from the previous week, The Journal relates.
The Company pays 275 basis points above LIBOR to borrow under the
facility.  The bank loan matures on July 3, 2014, and carries
Moody's B2 rating while it is not rated by Standard & Poor's.  The
debt is one of the biggest gainers and losers among 198 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

U.S. Foodservice, Inc. -- http://www.usfoodservice.com/-- is a
foodservice supplier serving some 250,000 customers from more than
70 distribution facilities.  The Company supplies restaurants,
hotels, school, and other foodservice operators with a wide
variety of food products, including canned and dry foods, meats,
frozen foods, and seafood.  It also distributes kitchen equipment
and cleaning supplies among other non-food supplies.  U.S.
Foodservice distributes both national brand products and its own
private labels.  Tracing its roots to 1853, the company is owned
by private equity firms KKR & Co. and Clayton, Dubilier & Rice.


VALUE CITY: Chapter 11 Liquidation Plan Confirmed
-------------------------------------------------
Bankruptcy Law360 reports that a bankruptcy judge on Thursday
confirmed a revamped joint plan of liquidation for Value City
Holdings Inc. after the only class of creditors qualified to vote
on the plan granted it their overwhelming support.

Headquartered in Columbus, Ohio, Value City Holdings Inc. --
http://www.valuecity.com/-- operates a chain of department stores
in the United States.  The company and eight of its affiliates
filed for Chapter 11 protection on Oct. 26, 2008 (Bankr. S.D.N.Y.
Lead Case No. 08-14197).  John Longmire, Esq., and Lauren C.
Cohen, Esq., at Willkie Farr & Gallagher LLP, represent the
Debtors' in their restructuring efforts.  Epiq Bankruptcy
Solutions LLC is the claims, noticing and balloting agent for the
Debtors.  Glenn R. Rice, Esq., at Otterbourg Steindler Houston &
Rosen, PC, represents the official committee of unsecured
creditors as counsel.  When the Debtors filed for protection from
their creditors, they listed assets and debts between $100 million
and $500 million each.

In November 2008, Judge James M. Peck of the U.S. Bankruptcy Court
for the Southern District of New York granted Value City Holdings
permission to conduct going-out-of-business sales to be managed by
liquidator and financial consultant Tiger Capital Group LLC.


VAN HAM: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------
Debtor: Van Ham Dairy, LLC
        7089 Road 22
        Continental, OH 45831

Bankruptcy Case No.: 10-33231

Chapter 11 Petition Date: May 10, 2010

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

Judge: Richard L. Speer

Debtor's Counsel: John R Burns, III, Esq.
                  111 E. Wayne St., Suite 800
                  Fort Wayne, IN 46802
                  Tel: (260) 424-8000
                  E-mail: john.burns@bakerd.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/ohnb10-33231.pdf

The petition was signed by Jan Van Ham.


VILLAGE AT OAKWELL: Tax Redetermination Request Was Too Late
------------------------------------------------------------
WestLaw reports that pursuant to the provision of a bankruptcy
statute barring a court from making a tax determination with
regard to the "amount or legality of any amount arising in
connection with an ad valorem tax on real or personal property of
the estate, if the applicable period for contesting or
redetermining that amount under any law (other than a bankruptcy
law) has expired," a bankruptcy court lost the right to
redetermine a Chapter 11 debtor's property tax liability under
Texas law for the year in which the debtor's petition was filed, a
Texas bankruptcy court ruled as a matter of first impression.  The
debtor did not seek a redetermination prior to the expiration date
for filing an action in state court.  It did not matter that,
under a more general bankruptcy statute, the debtor would have had
two years to commence an action for a de novo review of the
appraisal review board's determination in state court.  In re
Village at Oakwell Farms, Ltd., --- B.R. ----, 2010 WL 1544295
(Bankr. W.D. Tex.).

Located in in San Antonio, Tex., The Village at Oakwell Farms,
LTD, fdba El Chaparral Apartments, sought chapter 11 protection
(Bankr. W.D. Texas Case No. 09-52932) on Aug. 3, 2009.  Martin
Warren Seidler, Esq., in San Antonio, Texas, represents the
Company.  The Company disclosed $1,205,347 in assets and
$4,359,790 in liabilities at the time of the chapter 11 filing.
In Sept. 2009, the City of San Antonio ordered that the vacant
apartment building be demolished.


WESTMORELAND COAL: Tontine et al. Hold 26.7% of Common Stock
------------------------------------------------------------
Tontine Capital Partners, L.P., and its various affiliated funds,
and Jeffrey L. Gendell, general partner of Tontine Capital,
disclosed holding in the aggregate 3,309,157 shares or roughly
26.7% of the common stock of Westmoreland Coal Company at May 5,
2010.

On March 12, 2010, TCP sold 861 shares of Common Stock at a price
of $13.33 per share, TP sold 3,247 shares of Common Stock at a
price of $13.33 per share and 600 Westmoreland Depositary Shares
at a price of $26.25 per share and Tontine Overseas Fund, Ltd.,
sold 1,292 shares of Common Stock at a price of $13.33 per share.

On May 5, 2010, TOF distributed 17,392 shares of Common Stock to
Tontine Capital Overseas Master Fund II, L.P.  The Transferred
Shares were distributed to TCP 2 in connection with the redemption
by TCP 2 of ownership interests in TOF.  The distribution of the
Transferred Shares to TCP 2 did not change the aggregate Common
Stock ownership of Tontine et al. and has not changed Tontine et
al.'s purposes in holding shares of Common Stock.

Tontine disclosed that on January 12, 2001, affiliate Tontine
Partners, L.P., acquired 3,000 depositary shares of the Company,
each share of which represents one-quarter of one share of the
Company's convertible preferred stock.  Each Depositary Share is
immediately convertible into 1.708 shares of Common Stock.

On March 4, 2008, TP and TCP purchased senior secured convertible
promissory notes of the Company in the original principal amount
of $15,000,000 pursuant to a Senior Secured Convertible Note
Purchase Agreement dated as of March 4, 2008, by and among the
Company, TCP and TP as purchasers, and Tontine Capital Associates,
L.P. as collateral agent.

Tontine et al. acquired the shares of Common Stock, Depositary
Shares and Company notes for investment purposes and in the
ordinary course of business.  Tontine et al. do not have any
current intention, plan or proposal with respect to: (a) the
acquisition by any person of additional securities of the Company,
or the disposition of securities of the Company; (b) an
extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving the Company or any of its
subsidiaries; (c) a sale or transfer of a material amount of
assets of the Company or any of its subsidiaries; (d) any change
in the present Board of Directors or management of the Company,
including any plans or proposals to change the number or term of
directors or to fill any existing vacancies on the Board; (e) any
material change in the present capitalization or dividend policy
of the Company; (f) any other material change in the Company's
business or corporate structure; (g) changes in the Company's
charter, bylaws or instruments corresponding thereto or other
actions which may impede the acquisition of control of the Company
by any person; (h) causing a class of securities of the Company to
be delisted from a national securities exchange, if any, or cease
to be authorized to be quoted in an inter-dealer quotation system
of a registered national securities association; (i) a class of
equity securities of the Company becoming eligible for termination
of registration pursuant to Section 12(g)(4) of the Securities
Act, or (j) any similar action.

Westmoreland Coal on May 7, 2010, filed with the Securities and
Exchange Commission a prospectus relating to the resale, from time
to time, by Tontine et al. as selling securityholders of (i) a
warrant to purchase 173,410 shares of Westmoreland Coal Company
common stock at an exercise price of $19.03 per share until August
20, 2010 and (ii) 4,343,314 shares of Westmoreland Coal Company
common stock.  Shares of common stock offered by selling
securityholders consist of: (a) 173,410 shares issuable upon
exercise of the warrant; (b) up to 1,877,946 shares issuable upon
conversion of 9% senior secured convertible promissory notes in
the original principal amount of $15 million (including shares
issuable upon conversion of additional notes that may be issued in
the future as interest paid in kind in lieu of cash interest on
the convertible notes); (c) 1,538,200 shares purchased by certain
selling securityholders in the open market; (d) 6,318 shares
issuable upon conversion of depositary shares representing
fractional interests in the Company's Series A Preferred Stock
purchased by a selling securityholder in the open market; and (e)
747,440 shares that have been or will be contributed by the
Company to the Westmoreland Coal Company Retirement Plan Trust
from time to time in satisfaction of certain funding obligations
the Company has to the trust.  Other than the securities purchased
in open market transactions, the selling securityholders received
the securities, or the notes which are convertible into
securities, in transactions exempt from the registration
requirements of the Securities Act of 1933, as amended.  All
securities, except for those being contributed to the Westmoreland
Retirement Plan Trust, are being registered pursuant to
registration rights agreements with selling securityholders.

A full-text copy of the Company's prospectus is available at no
charge at http://ResearchArchives.com/t/s?622d

                      About Westmoreland Coal

Based in Colorado Springs, Colorado, Westmoreland Coal Company
(NYSE Amex:WLB) -- http://www.westmoreland.com/-- is the oldest
independent coal company in the United States.  The Company's coal
operations include coal mining in the Powder River Basin in
Montana and lignite mining operations in Montana, North Dakota and
Texas.  Its power operations include ownership of the two-unit
Roanoke Valley coal-fired power plant in North Carolina.

At March 31, 2010, the Company had total assets of $778.518
million against total liabilities of $921.296 million and non-
controlling interest of $2.707 million, resulting in total deficit
of $142.778 million.  The Company's balance sheet at March 31,
2010, showed strained liquidity: The Company had total current
assets of $119.022 million against total current liabilities of
$181.615 million.

Westmoreland Coal said there is substantial doubt about its
ability to continue as a going concern, citing its recurring
losses from operations, violation of a debt covenant by a
subsidiary, its working capital deficit, and its net capital
deficiency.

Westmoreland Resources, Inc., did not comply with its amended net
worth requirement contained in its Business Loan Agreement at
April 30, 2010, and does not expect to meet this requirement for
at least the next 12 months.  Westmoreland Coal has classified
WRI's $11.4 million term debt as a current liability.


WESTMORELAND COAL: Reports $3.195 Million Net Loss for Q1 2010
--------------------------------------------------------------
Westmoreland Coal Company reported a net loss applicable to common
shareholders of $3.195 million for the three months ended March
31, 2010, from a net loss of $5.629 million for the same period in
2009.  Revenues were $126.439 million for the quarter from
$121.798 million for the same period last year.  The increase in
revenues was primarily due to favorable terms in coal supply
agreements.

"We are very pleased with these results," Keith E. Alessi,
Westmoreland's President and CEO, said in a press statement.
"Reflected in these numbers is the impact of the many cost control
and efficiency initiatives that we have pursued.  We expect to
continue to see improvements in our 2010 results compared to 2009;
however, the planned maintenance shutdowns of our [Roanoke Valley]
facilities during May will negatively impact the second quarter."

"Many companies took large charges during the first quarter
associated with changes in tax provisions under the recently
enacted national health care legislation.  Since Westmoreland
established full reserves against its tax loss carryforwards and
other tax assets, we were not subject to such charges.  However,
there are numerous new provisions in the law related to black lung
liabilities as well as health care.  As detailed regulations
become available, we will review these with our actuaries to
ascertain whether they have any accounting impact on the company.
It is impossible at this time to assess what impact, if any, these
changes in the law will have."

At March 31, 2010, the Company had total assets of $778.518
million against total liabilities of $921.296 million and non-
controlling interest of $2.707 million, resulting in total deficit
of $142.778 million.  The Company's balance sheet at March 31,
2010, showed strained liquidity: The Company had total current
assets of $119.022 million against total current liabilities of
$181.615 million.

Westmoreland Coal said there is substantial doubt about its
ability to continue as a going concern, citing its recurring
losses from operations, violation of a debt covenant by a
subsidiary, its working capital deficit, and its net capital
deficiency.

Westmoreland Resources, Inc., did not comply with its amended net
worth requirement contained in its Business Loan Agreement at
April 30, 2010, and does not expect to meet this requirement for
at least the next 12 months.  Westmoreland Coal has classified
WRI's $11.4 million term debt as a current liability.  WRI's non-
compliance with loan covenants triggers a cross default on the
Company's convertible notes and as a result, the Company has
classified $11.7 million of convertible note debt as a current
liability.

The Company also noted that as a result of a decrease in its
heritage health benefit costs, its ability to access funds from
WRI's revolving line of credit and an increase in WRI's term debt;
the Company anticipates that cash from operations and available
borrowing capacity will be sufficient to meet cash requirements
for the foreseeable future, although by a small margin.  The
Company's projections assume:

     -- a significant increase in tons delivered and an increase
        in its power segments profits in 2010 (following coal
        customer shutdowns in the second and third quarters of
        2009 and also an unanticipated shutdown at Roanoke Valley
        in the fourth quarter of 2009);

     -- WRI's lender will not require prepayment or accelerate the
        repayment schedule of its term debt or revolving line of
        credit (as a result of a net worth covenant non-
        compliance); and

     -- WRI's renewal of its associated revolving line of credit
        prior to its November 18, 2010 expiration.

Westmoreland Coal does not currently expect to rely on proceeds
from sales of assets or securities or other capital-raising
transactions to satisfy liquidity needs during the remainder of
2010.  Its primary sources of cash include sales of coal and power
production to customers and borrowings under its credit facilities
or other financing arrangements.  The Company generally satisfies
working capital requirements and fund capital expenditures and
debt-service obligations through cash generated from operations or
borrowings under its credit facilities.

A full-text copy of the Company's earnings release is available at
no charge at http://ResearchArchives.com/t/s?622b

A full-text copy of the Company's quarterly report on Form 10-Q is
available at no charge at http://ResearchArchives.com/t/s?622c

                      About Westmoreland Coal

Based in Colorado Springs, Colorado, Westmoreland Coal Company
(NYSE Amex:WLB) -- http://www.westmoreland.com/-- is the oldest
independent coal company in the United States.  The Company's coal
operations include coal mining in the Powder River Basin in
Montana and lignite mining operations in Montana, North Dakota and
Texas.  Its power operations include ownership of the two-unit
Roanoke Valley coal-fired power plant in North Carolina.


WESTMORELAND COAL: Registers 1-Mil. Shares Under Savings Plan
-------------------------------------------------------------
Westmoreland Coal Company filed with the Securities and Exchange
Commission a Registration Statement pursuant to General
Instruction E of Form S-8 under the Securities Act of 1933, as
amended, to register an additional 1,000,000 shares of the
Company's common stock, par value $2.50 per share, that may be
issued pursuant to the Westmoreland Coal Company and Subsidiaries
Employees' Savings Plan of Westmoreland Coal Company plus an
indeterminate amount of interests in the 401(k) Plan.  The Company
previously registered shares of its common stock for issuance
under the 401(k) Plan on registration statements on Form S-8 filed
with the SEC on August 3, 2001 (File No. 333-66698) and April 16,
2007 (File No. 333-142132).

A full-text copy of the registration statement is available at no
charge at http://ResearchArchives.com/t/s?622e

                      About Westmoreland Coal

Based in Colorado Springs, Colorado, Westmoreland Coal Company
(NYSE Amex:WLB) -- http://www.westmoreland.com/-- is the oldest
independent coal company in the United States.  The Company's coal
operations include coal mining in the Powder River Basin in
Montana and lignite mining operations in Montana, North Dakota and
Texas.  Its power operations include ownership of the two-unit
Roanoke Valley coal-fired power plant in North Carolina.

At March 31, 2010, the Company had total assets of $778.518
million against total liabilities of $921.296 million and non-
controlling interest of $2.707 million, resulting in total deficit
of $142.778 million.  The Company's balance sheet at March 31,
2010, showed strained liquidity: The Company had total current
assets of $119.022 million against total current liabilities of
$181.615 million.

Westmoreland Coal said there is substantial doubt about its
ability to continue as a going concern, citing its recurring
losses from operations, violation of a debt covenant by a
subsidiary, its working capital deficit, and its net capital
deficiency.

Westmoreland Resources, Inc., did not comply with its amended net
worth requirement contained in its Business Loan Agreement at
April 30, 2010, and does not expect to meet this requirement for
at least the next 12 months.  Westmoreland Coal has classified
WRI's $11.4 million term debt as a current liability.


WHITE SANDS: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: White Sands Motel, Marina & Restaurant, Inc.
        aka White Sands Motor Lodge & Marina
        aka White Sands Motor Lodge
        aka White Sands Restaurant
        aka White Sands Motel, Marina & Restaurant, Incorporated
        P.O. Box 1027
        Port Isabel, TX 78578

Bankruptcy Case No.: 10-10339

Chapter 11 Petition Date: May 10, 2010

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

Judge: Richard S. Schmidt

Debtor's Counsel: Eduardo V. Rodriguez, Esq.
                  Malaise Law Firm
                  1265 N Expressway 83
                  Brownsville, TX 78521
                  Tel: (956) 547-9638
                  Fax: (956) 547-9630
                  E-mail: igotnoticesbv@malaiselawfirm.com

Scheduled Assets: $1,460,023

Scheduled Debts: $1,738,439

The Debtor did not file a list of its largest unsecured creditors
together with its petition.

The petition was signed by Patrick H. Marchan, president/
secretary.


WINDER RENEWABLE: Wants to Use Cash Collateral
----------------------------------------------
Winder Renewable Methane, LLC, seeks authority from the U.S.
Bankruptcy Court for the Eastern District of Louisiana to use the
cash collateral.

The Debtors believe that ACF Winder LLC (the Lender) will assert a
security interest in the assets of Winder Renewable Methane, LLC
including, but not limited to, the Debtor's cash collateral.  The
security interest asserted against Winder Renewable Methane, LLC
secures a loan dated July 6, 2008.

As a result of the asserted security interest, Lender asserts that
the cash generated by the Debtors' operations constitutes cash
collateral and, as such, is entitled to protection.

Douglas S. Draper, Esq., at Heller, Draper, Hayden, Patrick
& Horn, LLC, the attorney for the Debtor, explains that the Debtor
needs the money to fund its Chapter 11 case, pay suppliers and
other parties.  The Debtors will use the collateral pursuant to a
budget, a copy of which is available for free at:

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

In exchange for using the cash collateral, the Debtor proposes to
grant a replacement lien on post-Petition Date assets, having the
same respective priority as the prepetition lien, to secure any
postpetition diminution in value thereof but only to the extent
such interest is entitled to adequate protection against such
diminution under the U.S. Bankruptcy Code.

New Orleans, Louisiana-based Winder Renewable Methane, LLC, filed
for Chapter 11 bankruptcy protection on April 30, 2010 (Bankr.
E.D. La. Case No. 10-11489).  Douglas S. Draper, Esq., at Heller
Draper Hayden Patrick & Horn, LLC, assists the Company in its
restructuring effort.  The Company listed $10,000,001 to
$50,000,000 in assets and $1,000,001 to $10,000,000 in
liabilities.

The Debtor's affiliate, Worthmore Renewable Solutions, LLC, filed
a separate Chapter 11 petition on April 30, 2010 (Case No. 10-
11488).


WORTHMORE RENEWABLE: Asks for Court Okay to Use Cash Collateral
---------------------------------------------------------------
Worthmore Renewable Solutions, LLC, seeks authority from the U.S.
Bankruptcy Court for the Eastern District of Louisiana to use the
cash collateral.

The Debtors believe that ACF Winder LLC (the Lender) will assert a
security interest in the assets of Winder Renewable Methane, LLC
including, but not limited to, the Debtor's cash collateral.  The
security interest asserted against Winder Renewable Methane, LLC
secures a loan dated July 6, 2008.

As a result of the asserted security interest, Lender asserts that
the cash generated by the Debtor's operations constitutes cash
collateral and, as such, is entitled to protection.

Douglas S. Draper, Esq., at Heller, Draper, Hayden, Patrick
& Horn, LLC, the attorney for the Debtor, explains that the Debtor
needs the money to fund its Chapter 11 case, pay suppliers and
other parties.  The Debtors will use the collateral pursuant to a
budget, a copy of which is available for free at:

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

In exchange for using the cash collateral, the Debtor proposes to
grant a replacement lien on post-Petition Date assets, having the
same respective priority as the prepetition lien, to secure any
postpetition diminution in value thereof but only to the extent
such interest is entitled to adequate protection against such
diminution under the U.S. Bankruptcy Code.

New Orleans, Louisiana-based Worthmore Renewable Solutions, LLC,
filed for Chapter 11 bankruptcy protection on April 30, 2010
(Bankr. E.D. La. Case No. 10-11488).  Douglas S. Draper, Esq., at
Heller Draper Hayden Patrick & Horn, LLC, assists the Company in
its restructuring effort.  The Company listed $10,000,001 to
$50,000,000 in assets and $1,000,001 to $10,000,000 in debts.

The Company's affiliate, Winder Renewable Methane, LLC, filed a
separate Chapter 11 petition on April 30, 2010 (Case No. 10-
11489).


XERIUM TECHNOLOGIES: Prepackaged Reorganization Plan Approved
-------------------------------------------------------------
A bankruptcy judge has approved the prepackaged reorganization
plan of Xerium Technologies Inc., a restructuring that will
eliminate $150 million in debt, according to Bankruptcy Law.

Judge Kevin J. Carey of the U.S. District Court for the District
of Delaware signed off on the plan Wednesday, seven weeks after
Xerium filed for Chapter 11 protection, Law360 relates.

Based in Raleigh, North Carolina, Xerium Technologies, Inc. (NYSE:
XRM), manufactures and supplies two types of consumable products
used primarily in the production of paper: clothing and roll
covers.  The Company, which operates around the world under a
variety of brand names, utilizes a broad portfolio of patented and
proprietary technologies to provide customers with tailored
solutions and products integral to production, all designed to
optimize performance and reduce operational costs.  With 32
manufacturing facilities in 13 countries around the world, Xerium
has approximately 3,300 employees.

Xerium Technologies and certain subsidiaries filed for Chapter 11
on March 30, 2010 (Bankr. D. Del. Lead Case No. 10-11031).  Judge
Kevin J. Carey presides over the cases.  John J. Rapisardi, Esq.;
George A. Davis, Esq.; and Sharon J. Richardson, Esq., at
Cadwalader, Wickersham & Taft LLP; and Mark D. Collins, Esq., at
Richards, Layton & Finger, P.A., serve as bankruptcy counsel.
Brian Fox, Michelle Campbell, and Michael Hartley at AlixPartners,
LLC, serve as the Debtors' restructuring advisors.  Stephen Ledoux
and Daniel Gilligan at Rothschild Inc. serve as the Debtors'
investment bankers.  Garden City Group Inc. is the Debtors' claims
agent.  Xerium Technologies disclosed total assets of $693,511,000
and total debts of $813,168,000 in its petition.

Bankruptcy Creditors' Service, Inc., publishes XERIUM TECHNOLOGIES
BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by Xerium Technologies and its various affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


ZINAIDA NEDOVODINA: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Zinaida Andreevna Nedovodina
        1808 Green Lane
        Redondo Beach, CA 90278

Bankruptcy Case No.: 10-28519

Chapter 11 Petition Date: May 10, 2010

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

Judge: Alan M. Ahart

Debtor's Counsel: Jerry A. Chad, Esq.
                  Law Offices of Jerry A Chad
                  P.O. Box 358
                  Topanga, CA 90290
                  Tel: (310) 739-4616
                  Fax: (310) 455-3079
                  E-mail: jerrychadjd@aol.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/cacb10-28519.pdf

The petition was signed by the Debtor.


* Global Default Rates Continue to Decline in 2010, Says S&P
------------------------------------------------------------
Globally, 29 companies (22 public and seven confidentially rated)
defaulted in the first quarter of 2010, said an article published
May 14 by Standard & Poor's, titled "Quarterly Default
Update And Rating Transitions (Premium)."

"The volume of rated debt affected by defaulters in the first
quarter was $17.8 billion, with the U.S. accounting for slightly
more than 41%," said Diane Vazza, head of Standard & Poor's Global
Fixed Income Research.

Out of 29 defaults in first-quarter 2010, 20 were domiciled in the
U.S., three were from Canada, two each came from the emerging
markets and New Zealand, and one each was from Australia and
Europe. For a more detailed description of this quarter's
defaults, see "First-Quarter 2010 Default Synopses (Premium),"
also published on RatingsDirect.

Globally, the corporate default rate for speculative-grade-rated
entities was 0.97% at the end of first-quarter 2010, compared with
2.21% during the same period in 2009.

"On a trailing-12-month basis, the global speculative-grade
default rate as of March 2010 was 8.31%, compared with 9.32% in
December 2009," said Ms. Vazza.  "Although the default rate has
declined, this is much higher than the long-term, 1981-2009,
average of 4.4%."

Overall credit quality has started showing signs of stabilization,
in our view.  The number of downgrades has declined significantly
across all regions--the downgrade-to-upgrade ratio fell to 1.14%
in the first quarter of 2010 from 1.22% in the fourth quarter of
2009 and 11.62% during the same period in 2009.  We believe that
the decrease largely stems from fewer downgrades, which fell to
2.73% (as a proportion of total rating actions) in the first
quarter from 3.15% in the fourth quarter of 2009 and 10.95% in
first-quarter 2009.


* Bank Failures This Year Now 72 As 4 Banks Shut May 14
-------------------------------------------------------
Regulators on Friday shut down the Midwest Bank and Trust Company
in Elmwood Park, Ill., as well as three smaller banks in Georgia,
Michigan and Missouri to bring the number of bank failures this
year to 72.

The Federal Deposit Insurance Corporation took over Midwest Bank
and Trust, which had about $2.4 billion in deposits and
$3.2 billion in assets.  FirstMerit Bank, of Akron, Ohio, agreed
to assume all the deposits of Midwest Bank and Trust and
essentially all the assets.

To protect depositors, the FDIC also entered into purchase and
assumption agreements with various banks for the assumption of
deposits and takeover of operations of the three closed banks last
Friday.

In accordance with Federal law, allowed claims against failed
financial institutions will be paid, after administrative
expenses, in this order of priority:

     1. Depositors
     2. General Unsecured Creditors
     3. Subordinated Debt
     4. Stockholders

                    2010 Failed Banks List

The FDIC was appointed as receiver for the closed banks.  To
protect the depositors, the FDIC entered into a purchase and
assumption agreement with various banks that agreed to assume the
deposits of most of the closed banks.  The FDIC also entered into
loss-share transactions on assets bought by the banks.

For this year, the failed banks are:

                               Loss-Share
                               Transaction Party     FDIC Cost
                  Assets of    Bank That Assumed   to Insurance
                  Closed Bank  Deposits & Bought      Fund
Closed Bank       (millions)   Certain Assets       (millions)
-----------       ----------   --------------      -----------
Southwest Community      $96.6    Simmons First Nat'l      $29.0
New Liberty Bank        $109.1    Bank of Ann Arbor        $25.0
Satilla Community Bank  $135.7    Ameris Bank              $31.3
Midwest Bank & Trust  $3,170.0    Firstmerit Bank         $216.4
1st Pacific Bank        $335.8    City National Bank       $87.7
Access Bank              $32.0    PrinsBank, Prinsburg      $5.5
Towne Bank of Ariz      $120.2    Commerce Bank            $41.8
The Bank of Bonifay     $242.9    First Federal Bank       $78.7
Frontier Bank         $3,500.0    Union Bank, NA        $1,370.0
BC National Banks        $67.2    Community First          $11.4
Champion Bank           $187.3    BankLiberty              $52.7
CF Bancorp            $1,650.0    First Michigan Bank     $615.3
Westernbank PR       $11,940.0    Banco Popular de PR   $3,310.0
R-G Premier Bank      $5,920.0    Scotiabank de PR      $1,230.0
Eurobank, SJ, PR      $2,560.0    Oriental Bank & Trust   $743.9
Lincoln Park Savings    $199.9    Northbrook Bank          $48.4
Peotone Bank            $130.2    First Midwest            $31.7
Wheatland Bank          $437.2    Wheaton Bank            $133.0
New Century Bank        $485.6    MB Financial            $125.3
Citizens Bank&Trust      $77.3    Republic Bank            $20.9
Broadway Bank         $1,200.0    MB Financial            $394.3
Amcore Bank           $3,800.0    Harris                  $220.3
Lakeside Community       $53.0    People's United          $11.2
Innovative Bank         $268.9    Center Bank              $37.8
City Bank             $1,130.0    Whidbey Island          $323.4
Butler Bank             $233.2    People's United          $22.9
AmericanFirst Bank       $90.5    TD Bank, N.A.            $10.5
First Federal           $393.3    TD Bank, N.A.             $6.0
Riverside National    $3,420.0    TD Bank, N.A.           $491.8
Tamalpais Bank          $628.9    Union Bank, N.A.         $81.1
Beach First National    $585.1    Bank of NC              $130.3
McIntosh Commercial     $362.9    CharterBank, West Point $123.3
Desert Hills Bank       $496.6    New York Community Bank $106.7
Unity National Bank     $292.2    Bank of the Ozarks       $67.2
Key West Bank            $88.0    Centennial Bank          $23.1
State Bank of Aurora     $28.2    Northern State Bank       $4.2
First Lowndes Bank      $137.2    First Citizens Bank      $38.3
Bank of Hiawassee       $377.8    Citizens South Bank     $137.7
Appalachian Community $1,010.0    Community & Southern    $419.3
Advanta Bank Corp.    $1,600.0    - None -                $635.6
Century Security         $96.5    Bank of Upson            $29.9
American National        $70.3    National Bank and Trust  $17.1
The Park Avenue Bank    $520.1    Valley National Bank     $50.7
Statewide Bank          $243.2    Home Bank, Lafayette     $38.1
Old Southern Bank       $315.6    Centennial Bank          $94.6
LibertyPointe Bank      $209.7    Valley National          $24.8
Sun American Bank       $535.7    First-Citizens Bank     $103.8
Waterfield Bank         $155.6    {FDIC Created}           $51.0
Centennial Bank         $215.2    Zions Bank               $96.3
Bank of Illinois        $211.7    Heartland Bank           $53.7
Rainier Pacific Bank    $446.2    Umpqua Bank, Roseburg    $95.2
Carson River Community   $51.1    Heritage Bank of Nevada   $7.9
George Washington       $412.8    FirstMerit Bank         $141.4
La Jolla Bank         $3,600.0    OneWest Bank, FSB       $882.3
The La Coste Nat'l       $53.9    Community National        $3.7
Marco Community Bank    $119.6    Omaha Bank               $38.1
1st American State       $18.2    Community Development     $3.1
First National Bank     $832.6    Community & Southern    $260.4
Florida Community       $875.5    Premier American Bank   $352.6
American Marine Bank    $373.2    Columbia State Bank      $58.9
Marshall Bank, N.A.      $59.9    United Valley Bank        $4.1
First Regional Bank   $2,180.0    First-Citizens Bank     $825.5
Comm. Bank & Trust    $1,210.0    SCBT, N.A.              $354.5
Charter Bank          $1,200.0    Charter, Albuquerque    $201.9
Evergreen Bank          $488.5    Umpqua Bank, Roseburg    $64.2
Columbia River Bank   $1,100.0    Columbia State Bank     $172.5
Bank of Leeton           $20.1    Sunflower Bank            $8.1
Premier American Bank   $350.9    Bond Street subsidiary   $85.0
Town Community           $69.6    Bank First American      $17.8
St. Stephen State        $24.7    First State Bank          $7.2
Barnes Banking          $827.8    {DINB Created}          $271.3
Horizon Bank          $1,400.0    Washington Federal      $539.1

In 2009, there were 140 failed banks, compared with just 25 for
2008.

A complete list of banks that failed since 2000 is available at:

    http://www.fdic.gov/bank/individual/failed/banklist.html

                   702 Banks on Problem List

In its quarterly banking profile, the Federal Deposit Insurance
Corp. said that the number of institutions on its "Problem List"
rose to 702 at the end of 2009, from 552 at the end of the third
quarter and 252 at the end of 2008.

The FDIC, in its February 23 report, said that total assets of
"problem" institutions were $402.8 billion at yearend 2009,
compared with $345.9 billion at the end of September and $159.0
billion at the end of 2008.  Both the number and assets of
"problem" institutions are at the highest level since June 30,
1993.

The Deposit Insurance Fund (DIF) decreased by $12.6 billion during
the fourth quarter to a negative $20.9 billion (unaudited)
primarily because of $17.8 billion in additional provisions for
bank failures.  Also, unrealized losses on available-for-sale
securities combined with operating expenses reduced the fund by
$692 million.  Accrued assessment income added $3.1 billion to the
fund during the quarter, and interest earned, combined with
termination fees on loss share guarantees and surcharges from the
Temporary Liquidity Guarantee Program added $2.8 billion.  For the
year, the fund balance shrank by $38.1 billion, compared to a
$35.1 billion decrease in 2008.  The DIF's reserve ratio was
negative 0.39% on December 31, 2009, down from negative 0.16% on
September 30, 2009, and 0.36% a year ago.  The December 31, 2009,
reserve ratio is the lowest reserve ratio for a combined bank and
thrift insurance fund on record.

Forty-five insured institutions with combined assets of
$65.0 billion failed during the fourth quarter of 2009, at an
estimated cost of $10.2 billion.  For all of 2009, 140 FDIC-
insured institutions with assets of $169.7 billion failed, at an
estimated cost of $37.4 billion.  This was the largest number of
failures since 1990 when 168 institutions with combined assets of
$16.9 billion failed.

On November 12, 2009, the FDIC adopted a final rule amending the
assessment regulations to require insured depository institutions
to prepay their quarterly risk-based assessments for the fourth
quarter of 2009 and for all of 2010, 2011, and 2012 on December
30, 2009, along with each institution's risk-based assessment for
the third quarter of 2009.   The FDIC is asking banks to prepay
three years of premiums on Dec. 30 to raise $45 billion for the
fund.

"Problem" institutions are those institutions with financial,
operational, or managerial weaknesses that threaten their
continued financial viability.  They are rated by the FDIC or
Office of the Thrift Supervision as either a "4" or "5", based on
a scale of 1 to 5 in ascending order of supervisory concern.
The Problem List is not divulged to the public.  No advance notice
is given to the public when a financial institution is closed.

               Problem Institutions      Failed Institutions
               --------------------      -------------------
Year           Number  Assets (Mil)      Number  Assets (Mil)
----           ------  ------------      ------  ------------
2009              702      $402,800         140       $169,700
2008              252      $159,405          25       $371,945
2007               76       $22,189           3         $2,615
2006               50        $8,265           0             $0
2005               52        $6,607           0             $0
2004               80       $28,250           4           $170

A copy of the FDIC's Quarterly Banking Profile for the quarter
ended Dec. 31, 2009, is available for free at:

      http://bankrupt.com/misc/FDIC_QBP_Q4_09.pdf

                      Transfer of Deposits

According to Reuters Breakingviews, SNL Financial, a financial
information and research firm, said banks have advised on the
transfer of $90 billion of deposits in the five quarters through
March 2010.  Assuming they make 15 basis points on the value of
transferred deposits, that's $130 million in fees, Breakingviews
says.

Breakingviews relates that big banks like Credit Suisse and
JPMorgan Chase worked on the biggest deals.  Breakingviews adds
that firms like Keefe Bruyette & Woods, Hovde Financial, Sandler
O'Neill and Howe Barnes Hoefer & Arnett lead the way in a number
of deals.  DD&F Consulting, an Arkansas consultancy, is also in
the mix.


* Adorno & Yoss Merges with Wong Fleming
----------------------------------------
Bankruptcy Law360 reports that Adorno & Yoss LLC, the United
States' largest certified minority-owned law firm, has merged with
Wong Fleming PC, another minority-owned firm, adding 15
employment, bankruptcy and intellectual property attorneys in
Pennsylvania, New Jersey, Maryland and New York to Adorno & Yoss'
roster.


* Getzler Henrich Appoints Colleen Palmer as Managing Director
--------------------------------------------------------------
Getzler Henrich has appointed Colleen Palmer as a managing
director of its Chicago office.  Ms. Palmer comes to the firm with
over 25 years experience providing restructuring and financing
solutions for large, middle and small companies with operational
challenges and capital restructuring needs.  Ms. Palmer will focus
on Getzler Henrich's business development and financial
restructuring engagements.  She officially joined Getzler Henrich
on May 3rd.

Ms. Palmer has extensive debt restructuring expertise both in and
out of court, as well as strategy development, business building
and P&L management experience.  She spent six years at GE
Commercial Finance where she launched a European-based
restructuring and corporate lending business with offices in the
United Kingdom, Italy, France and Germany.  While increasing GE's
market presence as a key provider of asset-based and cash-flow
financing packages to European companies, she became known for
sound debt solutions for companies in underserved markets.  Ms.
Palmer also spent three years developing GE's restructuring
business for the western half of the United States. Prior to this,
she spent over 20 years at Heller Financial Inc., in roles which
included portfolio manager, chief risk officer, and Senior Vice
President, Originations, Heller Business Credit.  She most
recently served as chief lending officer/vice president of an
investment fund whose loan portfolio component consisted of over
700 secured loans exceeding $400 million.

Ms. Palmer received a master's degree from the Keller Graduate
School of Management in Chicago, and holds a bachelor's degree in
psychology from the University of Illinois in Chicago.

"We are confident that Colleen's extensive experience and track
record in financing will play a key role in assisting our client
base while contributing to our firm's organizational growth," said
Joel Getzler, vice chairman of Getzler Henrich & Associates, LLC.
"We look forward to working with her."

Ms. Palmer has served on the boards of directors at both the
Turnaround Management Association and American Bankruptcy
Institute, and completed both Six Sigma and GE Leadership training
programs.  She has spoken frequently on global restructuring and
turnaround issues.

                       About Getzler Henrich

Getzler Henrich & Associates LLC -- http://www.getzlerhenrich.com/
-- founded in 1968, is one of the nation's oldest and most
respected names in middle market corporate turnaround and
restructuring.  Having successfully restructured thousands of
companies throughout the U.S., Latin America and Asia, the firm
has grown to provide a broad array of services for both distressed
and healthy companies in the areas of restructuring and
turnarounds, lean manufacturing, sales and marketing strategy, M&A
integration, technology systems evaluation and implementation and
customer-focused environment creation.  Long respected for its
results-oriented approach, Getzler Henrich deploys rapid,
pragmatic decision making and metrics-driven implementation
services for its clients. With years of experience in executive-
level positions at major corporations, and a broad range of
advisory expertise, Getzler Henrich professionals have
consistently and successfully guided companies through crises and
growth phases with this methodology.

Working with a wide range of companies, including publicly-held
firms, private corporations, and family-owned businesses, Getzler
Henrich expertise spans more than 50 industry sectors, from `old
economy' manufacturing and distribution businesses, to `new
economy' technology and service firms.


* BOND PRICING -- For Week From May 10 to May 14, 2010
------------------------------------------------------

  Company            Coupon      Maturity  Bid Price
  -------            ------      --------  ---------
ABITIBI-CONS FIN      7.875%     8/1/2009    10.000
BOWATER INC           9.500%   10/15/2012    38.000
BOWATER INC           6.500%    6/15/2013    41.000
AMBAC INC             9.375%     8/1/2011    61.254
AMER GENL FIN         4.875%    5/15/2010   100.000
AMER GENL FIN         5.200%    6/15/2010    94.762
AMKR-CALL06/10        7.750%    5/15/2013    98.696
METALDYNE CORP       11.000%    6/15/2012     1.600
LASALLE FNDG LLC      4.250%    5/15/2010    98.250
MERRILL LYNCH         3.210%     3/9/2011    99.750
BANK NEW ENGLAND      8.750%     4/1/1999    11.875
BANK NEW ENGLAND      9.875%    9/15/1999    11.875
BLOCKBUSTER INC       9.000%     9/1/2012    20.500
BALLY TOTAL FITN     14.000%    10/1/2013     1.000
BANKUNITED FINL       6.370%    5/17/2012     7.250
BANKUNITED FINL       3.125%     3/1/2034     7.875
CAPMARK FINL GRP      5.875%    5/10/2012    32.000
CITADEL BROADCAS      4.000%    2/15/2011    55.000
CELL THERAPEUTIC      4.000%     7/1/2010    94.250
F-CALL05/10           6.150%    5/20/2011    99.000
F-CALL05/10           5.600%   11/21/2011    99.420
FRIEDE GOLDMAN        4.500%    9/15/2004     0.875
FEDDERS NORTH AM      9.875%     3/1/2014     1.577
FLEETWOOD ENTERP     14.000%   12/15/2011    15.375
FINLAY FINE JWLY      8.375%     6/1/2012     4.000
FAIRPOINT COMMUN     13.125%     4/1/2018    16.125
FAIRPOINT COMMUN     13.125%     4/2/2018    17.000
GENERAL MOTORS        9.450%    11/1/2011    32.000
GENERAL MOTORS        7.125%    7/15/2013    32.750
GASCO ENERGY INC      5.500%    10/5/2011    62.500
HERBST GAMING         7.000%   11/15/2014     0.300
155 E TROPICANA       8.750%     4/1/2012     5.250
ELEC DATA SYSTEM      3.875%    7/15/2023    92.500
HAWAIIAN TELCOM       9.750%     5/1/2013     3.500
INN OF THE MOUNT     12.000%   11/15/2010    41.000
LAMR-CALL06/10        7.250%     1/1/2013    99.350
LEHMAN BROS HLDG      7.875%    11/1/2009    20.625
LEHMAN BROS HLDG      4.375%   11/30/2010    19.660
LEHMAN BROS HLDG      5.000%    1/14/2011    21.262
LEHMAN BROS HLDG      6.000%     4/1/2011    21.000
LEHMAN BROS HLDG      5.750%    4/25/2011    20.000
LEHMAN BROS HLDG      5.750%    7/18/2011    19.660
LEHMAN BROS HLDG      4.500%     8/3/2011    20.960
LEHMAN BROS HLDG      6.625%    1/18/2012    22.375
LEHMAN BROS HLDG      5.250%     2/6/2012    20.500
LEHMAN BROS HLDG      1.500%    3/23/2012    18.250
LEHMAN BROS HLDG      1.250%    6/13/2012    19.050
LEHMAN BROS HLDG      6.000%    7/19/2012    20.000
LEHMAN BROS HLDG      5.000%    1/22/2013    21.250
LEHMAN BROS HLDG      5.625%    1/24/2013    22.500
LEHMAN BROS HLDG      5.100%    1/28/2013    19.500
LEHMAN BROS HLDG      5.000%    2/11/2013    19.750
LEHMAN BROS HLDG      4.800%    2/27/2013    18.875
LEHMAN BROS HLDG      4.700%     3/6/2013    20.850
LEHMAN BROS HLDG      5.000%    3/27/2013    20.500
LEHMAN BROS HLDG      5.750%    5/17/2013    20.000
LEHMAN BROS HLDG      5.250%    1/30/2014    20.910
LEHMAN BROS HLDG      4.800%    3/13/2014    20.000
LEHMAN BROS HLDG      6.200%    9/26/2014    22.250
LEHMAN BROS HLDG      5.150%     2/4/2015    19.375
LEHMAN BROS HLDG      5.250%    2/11/2015    19.700
LEHMAN BROS HLDG      8.800%     3/1/2015    20.125
LEHMAN BROS HLDG      6.000%    6/26/2015    18.250
LEHMAN BROS HLDG      8.500%     8/1/2015    18.000
LEHMAN BROS HLDG      5.000%     8/5/2015    17.400
LEHMAN BROS HLDG      6.000%   12/18/2015    20.200
LEHMAN BROS HLDG      5.500%     4/4/2016    22.250
LEHMAN BROS HLDG      8.920%    2/16/2017    17.000
LEHMAN BROS HLDG      5.500%     2/4/2018    18.000
LEHMAN BROS HLDG      5.550%    2/11/2018    18.511
LEHMAN BROS HLDG      6.000%    2/12/2018    19.500
LEHMAN BROS HLDG      8.050%    1/15/2019    19.375
LEHMAN BROS HLDG      7.000%    4/16/2019    19.350
LEHMAN BROS HLDG      6.250%     2/5/2021    17.100
LEHMAN BROS HLDG      8.750%   12/21/2021    20.500
LEHMAN BROS HLDG      8.500%    6/15/2022    22.000
LEHMAN BROS HLDG     11.000%    6/22/2022    19.375
LEHMAN BROS HLDG     11.000%    7/18/2022    17.500
LEHMAN BROS HLDG     11.000%    8/29/2022    19.000
LEHMAN BROS HLDG      9.500%   12/28/2022    17.500
LEHMAN BROS HLDG      9.500%    1/30/2023    19.100
LEHMAN BROS HLDG      8.750%     2/6/2023    17.050
LEHMAN BROS HLDG      8.400%    2/22/2023    17.950
LEHMAN BROS HLDG      9.500%    2/27/2023    17.550
LEHMAN BROS HLDG     10.000%    3/13/2023    22.500
LEHMAN BROS HLDG     10.375%    5/24/2024    19.000
LEHMAN BROS HLDG     11.000%    3/17/2028    19.375
LEHMAN BROS HLDG      6.875%    7/17/2037     2.500
LEHMAN BROS HLDG      7.050%    2/27/2038    16.500
MFCCN-CALL06/10       5.050%    6/15/2030    96.300
MGM MIRAGE            8.375%     2/1/2011    99.126
NORTH ATL TRADNG      9.250%     3/1/2012    56.100
NEFF CORP            10.000%     6/1/2015     9.625
NEWPAGE CORP         12.000%     5/1/2013    37.250
LEINER HEALTH        11.000%     6/1/2012     8.750
PROPEX FABRICS       10.000%    12/1/2012     2.000
QUANTUM CORP          4.375%     8/1/2010    92.554
RAFAELLA APPAREL     11.250%    6/15/2011    65.000
READER'S DIGEST       9.000%    2/15/2017     1.250
RASER TECH INC        8.000%     4/1/2013    38.000
SPHERIS INC          11.000%   12/15/2012    29.000
STATION CASINOS       6.000%     4/1/2012     6.700
STATION CASINOS       6.500%     2/1/2014     0.750
STATION CASINOS       6.875%     3/1/2016     1.000
STATION CASINOS       7.750%    8/15/2016     6.250
STATION CASINOS       6.625%    3/15/2018     2.000
TEKNI-PLEX INC       12.750%    6/15/2010    95.000
THORNBURG MTG         8.000%    5/15/2013     1.500
TRANS-LUX CORP        8.250%     3/1/2012    36.500
TOUSA INC             9.000%     7/1/2010    63.680
TOUSA INC             9.000%     7/1/2010    65.336
TOUSA INC             7.500%    3/15/2011     6.880
TOUSA INC            10.375%     7/1/2012     5.750
TOUSA INC             7.500%    1/15/2015     5.750
TRIBUNE CO            4.875%    8/15/2010    31.880
TIMES MIRROR CO       7.250%     3/1/2013    28.792
TRICO MARINE          3.000%    1/15/2027    19.000
VIRGIN RIVER CAS      9.000%    1/15/2012    45.500
VERENIUM CORP         5.500%     4/1/2027    37.000
VERASUN ENERGY        9.375%     6/1/2017     6.625
WCI COMMUNITIES       9.125%     5/1/2012     3.000
WCI COMMUNITIES       7.875%    10/1/2013     1.000
WERNER HOLDINGS      10.000%   11/15/2007     2.000
WASH MUT BANK NV      5.500%    1/15/2013     1.125
WASH MUT BANK NV      5.950%    5/20/2013     1.125
WASH MUT BANK FA      5.650%    8/15/2014     1.125
WASH MUT BANK FA      5.125%    1/15/2015     1.125
WASH MUT BANK NV      6.750%    5/20/2036     1.125
YELLOW CORP           5.000%     8/8/2023    61.000

                           *********

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.


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